Nine Chapters Capital Management’s Arcos Dorados Holdings ARCO Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2017 Q1	–	Sell	-13,464	Closed	-$71K	–	244
2016 Q4	$71K	Sell	13,464 -4,626	-26%	-$24.4K	0.12%	152
2016 Q3	$93K	Buy	+18,090	New	+$93K	0.66%	56