Nine Chapters Capital Management’s Mercer International MERC Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2017 Q3	$229K	Buy	+19,300	New	+$229K	0.5%	88
2015 Q4	–	Sell	-39,800	Closed	-$399K	–	325
2015 Q3	$399K	Buy	+39,800	New	+$399K	0.04%	632