Nine Chapters Capital Management’s Phibro Animal Health PAHC Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2017 Q3	$530K	Buy	+14,300	New	+$530K	1.17%	23
2017 Q2	–	Sell	-32,600	Closed	-$916K	–	139
2017 Q1	$916K	Buy	32,600 +14,300	+78%	+$402K	1.23%	6
2016 Q4	$536K	Buy	+18,300	New	+$536K	0.91%	33