Nine Chapters Capital Management’s First Merchants FRME Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2015 Q2	–	Sell	-16,000	Closed	-$377K	–	1021
2015 Q1	$377K	Sell	16,000 -4,000	-20%	-$94.3K	0.03%	662
2014 Q4	$455K	Buy	20,000 +5,300	+36%	+$121K	0.04%	562
2014 Q3	$297K	Sell	14,700 -6,200	-30%	-$125K	0.03%	722
2014 Q2	$442K	Buy	+20,900	New	+$442K	0.04%	596