Nine Chapters Capital Management’s United Fire Group UFCS Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2014 Q2	–	Sell	-18,000	Closed	-$546K	–	1130
2014 Q1	$546K	Buy	18,000 +6,100	+51%	+$185K	0.06%	431
2013 Q4	$341K	Sell	11,900 -1,400	-11%	-$40.1K	0.03%	583
2013 Q3	$405K	Buy	13,300 +3,300	+33%	+$100K	0.05%	468
2013 Q2	$248K	Buy	+10,000	New	+$248K	0.04%	490