Quotient Investors’s Ares Management ARES Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2015 Q3	–	Sell	-20,001	Closed	-$370K	–	215
2015 Q2	$370K	Buy	+20,001	New	+$370K	0.05%	188
2015 Q1	–	Sell	-35,894	Closed	-$615K	–	245
2014 Q4	$615K	Buy	+35,894	New	+$615K	0.13%	147