Nine Chapters Capital Management’s American States Water AWR Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2014 Q2	–	Sell	-14,800	Closed	-$478K	–	939
2014 Q1	$478K	Buy	+14,800	New	+$478K	0.06%	472
2013 Q4	–	Sell	-14,200	Closed	-$391K	–	785
2013 Q3	$391K	Sell	14,200 -16,600	-54%	-$457K	0.05%	481
2013 Q2	$827K	Buy	+30,800	New	+$827K	0.14%	221