Pacific Heights Asset Management’s RYLAND GROUP INC RYL Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2015 Q4	–	Sell	-270,000	Closed	-$11M	–	75
2015 Q3	$11M	Sell	270,000 -50,000	-16%	-$2.04M	0.87%	45
2015 Q2	$14.8M	Sell	320,000 -75,000	-19%	-$3.48M	0.99%	40
2015 Q1	$19.3M	Sell	395,000 -25,000	-6%	-$1.22M	1.09%	39
2014 Q4	$16.2M	Sell	420,000 -105,000	-20%	-$4.05M	0.85%	44
2014 Q3	$17.5M	Hold	525,000	–	–	0.7%	62
2014 Q2	$20.7M	Sell	525,000 -5,000	-0.9%	-$197K	0.75%	62
2014 Q1	$21.2M	Sell	530,000 -400,000	-43%	-$16M	0.73%	67
2013 Q4	$40.4M	Sell	930,000 -95,000	-9%	-$4.12M	1.2%	41
2013 Q3	$41.6M	Sell	1,025,000 -393,000	-28%	-$15.9M	1.13%	52
2013 Q2	$56.9M	Buy	+1,418,000	New	+$56.9M	1.38%	30