Nine Chapters Capital Management’s Lazard LAZ Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2015 Q1	–	Sell	-22,300	Closed	-$1.12M	–	1058
2014 Q4	$1.12M	Sell	22,300 -33,000	-60%	-$1.65M	0.1%	303
2014 Q3	$2.8M	Sell	55,300 -5,200	-9%	-$264K	0.25%	103
2014 Q2	$3.12M	Buy	60,500 +37,700	+165%	+$1.94M	0.26%	99
2014 Q1	$1.07M	Buy	+22,800	New	+$1.07M	0.13%	239