Merit Investment Management’s PennyMac Financial PFSI Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2013 Q4	$1.63M	Sell	93,087 -38,000	-29%	-$667K	1.87%	19
2013 Q3	$2.45M	Hold	131,087	–	–	2.95%	18
2013 Q2	$2.79M	Buy	+131,087	New	+$2.79M	2.52%	19