Nine Chapters Capital Management’s Vale VALE Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2017 Q2	–	Sell	-11,300	Closed	-$107K	–	171
2017 Q1	$107K	Buy	+11,300	New	+$107K	0.14%	194
2014 Q4	–	Sell	-20,600	Closed	-$227K	–	1198
2014 Q3	$227K	Buy	+20,600	New	+$227K	0.02%	811