Mangrove Partners’s NLI Holdings NL Stock Holding History

Mangrove Partners’s Portfolio NL Stock Details NL Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2016 Q3	–	Sell	-227,552	Closed	-$585K	–	26
2016 Q2	$585K	Sell	227,552 -15,383	-6%	-$43.9K	0.15%	27
2016 Q1	$549K	Sell	242,935 -51,110	-17%	-$121K	0.11%	35
2015 Q4	$894K	Sell	294,045 -15,888	-5%	-$53.4K	0.22%	37
2015 Q3	$927K	Buy	309,933 +19,925	+7%	+$101K	0.21%	40
2015 Q2	$2.15M	Buy	290,008 +14,800	+5%	+$112K	0.53%	34
2015 Q1	$2.13M	Hold	275,208	–	–	0.51%	37
2014 Q4	$2.37M	Hold	275,208	–	–	0.65%	33
2014 Q3	$2.03M	Buy	275,208 +78,752	+40%	+$704K	0.59%	34
2014 Q2	$1.82M	Buy	196,456 +89,630	+84%	+$847K	0.6%	30
2014 Q1	$1.16M	Buy	+106,826	New	+$1.19M	0.39%	35

Other funds holding NL

Dimensional Fund Advisors Austin, Texas $481B AUM 30.42% 1-Year Est. Return

Vanguard Group Malvern, Pennsylvania $6.9T AUM 27.45% 1-Year Est. Return

ZIM

Zacks Investment Management Chicago, Illinois $12.5B AUM 29.36% 1-Year Est. Return

BFA

BlackRock Fund Advisors San Francisco, California $542B AUM 18.13% 1-Year Est. Return

BIT

BlackRock Institutional Trust San Francisco, California $675B AUM 16.07% 1-Year Est. Return

Renaissance Technologies New York $63.9B AUM 45.56% 1-Year Est. Return

State Street Boston, Massachusetts $2.9T AUM 29.55% 1-Year Est. Return

Northern Trust Chicago, Illinois $757B AUM 28.64% 1-Year Est. Return

PPA

Parametric Portfolio Associates Seattle, Washington $190B AUM 18.52% 1-Year Est. Return

Bank of New York Mellon New York $544B AUM 28.31% 1-Year Est. Return

Mangrove Partners's NL Position: Q3 2016 in Review

Mangrove Partners sold out of NLI Holdings (NL) in Q3 2016, closing a stake of 227,552 shares — an estimated $585K sold.

Mangrove Partners first reported a position in NL in Q1 2014 and held it in 10 quarters. The position peaked at $2.37M in Q4 2014. 50 funds tracked by Wall St. Rank hold NL as of Q3 2016.

Mangrove Partners reported no remaining NLI Holdings position as of Q3 2016 after selling out during the quarter.
Mangrove Partners sold 227,552 NLI Holdings shares in Q3 2016, an estimated $585K.
Mangrove Partners first reported a position in NLI Holdings in Q1 2014 and held it in 10 quarters.
Mangrove Partners's NLI Holdings position peaked at $2.37M in Q4 2014.
50 funds tracked by Wall St. Rank held NLI Holdings as of Q3 2016.

Based on Mangrove Partners's 13F filing for Q3 2016, filed 14 Nov 2016.