Nine Chapters Capital Management’s Unitil UTL Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2015 Q4	–	Sell	-18,200	Closed	-$671K	–	523
2015 Q3	$671K	Buy	18,200 +2,900	+19%	+$107K	0.06%	477
2015 Q2	$505K	Sell	15,300 -1,700	-10%	-$56.1K	0.04%	574
2015 Q1	$591K	Buy	17,000 +2,100	+14%	+$73K	0.05%	547
2014 Q4	$546K	Buy	+14,900	New	+$546K	0.05%	516