Miller Value Partners’s IBM IBM Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2014 Q4	–	Sell	-56,390	Closed	-$10.2M	–	105
2014 Q3	$10.2M	Buy	56,390 +1,491	+3%	+$271K	0.41%	50
2014 Q2	$9.51M	Buy	54,899 +30,109	+121%	+$5.22M	0.36%	56
2014 Q1	$4.56M	Buy	+24,790	New	+$4.56M	0.18%	61