Merit Investment Management’s Plains All American Pipeline PAA Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2013 Q4	–	Sell	-5,000	Closed	-$263K	–	48
2013 Q3	$263K	Sell	5,000 -15,372	-75%	-$809K	0.32%	37
2013 Q2	$1.14M	Buy	+20,372	New	+$1.14M	1.03%	28