Penn Capital Management’s Antero Resources AR Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2016 Q4	–	Sell	-12,824	Closed	-$346K	–	282
2016 Q3	$346K	Buy	12,824 +267	+2%	+$7.2K	0.02%	264
2016 Q2	$326K	Buy	+12,557	New	+$326K	0.02%	258
2015 Q1	–	Sell	-11,250	Closed	-$457K	–	294
2014 Q4	$457K	Buy	+11,250	New	+$457K	0.02%	274