Monarch Partners Asset Management’s Mercer International MERC Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2015 Q4	–	Sell	-11,850	Closed	-$119K	–	174
2015 Q3	$119K	Sell	11,850 -88,475	-88%	-$888K	0.01%	170
2015 Q2	$1.37M	Hold	100,325	–	–	0.19%	130
2015 Q1	$1.54M	Buy	100,325 +1,075	+1%	+$16.5K	0.31%	125
2014 Q4	$1.22M	Buy	+99,250	New	+$1.22M	0.27%	111