Nine Chapters Capital Management’s Rayonier RYN Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2015 Q4	–	Sell	-25,012	Closed	-$525K	–	456
2015 Q3	$525K	Buy	+25,012	New	+$525K	0.05%	555