Nine Chapters Capital Management’s Ardmore Shipping ASC Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2015 Q1	–	Sell	-15,100	Closed	-$181K	–	959
2014 Q4	$181K	Buy	15,100 +4,100	+37%	+$49.1K	0.02%	806
2014 Q3	$120K	Sell	11,000 -24,500	-69%	-$267K	0.01%	916
2014 Q2	$491K	Buy	+35,500	New	+$491K	0.04%	555