Nine Chapters Capital Management’s Boston Beer SAM Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2015 Q1	–	Sell	-3,300	Closed	-$955K	–	1113
2014 Q4	$955K	Sell	3,300 -1,700	-34%	-$492K	0.08%	342
2014 Q3	$1.11M	Buy	5,000 +2,900	+138%	+$643K	0.1%	277
2014 Q2	$469K	Buy	+2,100	New	+$469K	0.04%	577