Salient Capital Advisors’s Automatic Data Processing ADP Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2017 Q3	–	Sell	-61,836	Closed	-$6.34M	–	67
2017 Q2	$6.34M	Sell	61,836 -2,988	-5%	-$302K	0.12%	58
2017 Q1	$6.64M	Buy	64,824 +7,658	+13%	+$781K	0.12%	58
2016 Q4	$5.88M	Buy	57,166 +8,909	+18%	+$831K	0.11%	54
2016 Q3	$4.26M	Buy	48,257 +968	+2%	+$87.7K	0.09%	68
2016 Q2	$4.34M	Buy	47,289 +6,730	+17%	+$594K	0.1%	68
2016 Q1	$3.64M	Sell	40,559 -3,756	-8%	-$315K	0.1%	76
2015 Q4	$3.75M	Sell	44,315 -12,089	-21%	-$1.04M	0.1%	77
2015 Q3	$4.53M	Buy	56,404 +1,809	+3%	+$145K	0.11%	74
2015 Q2	$4.38M	Buy	54,595 +1,580	+3%	+$135K	0.08%	86
2015 Q1	$4.54M	Buy	53,015 +3,681	+7%	+$317K	0.09%	80
2014 Q4	$4.11M	Buy	49,334 +3,018	+7%	+$245K	0.08%	84
2014 Q3	$3.38M	Buy	46,316 +9,057	+24%	+$654K	0.06%	94
2014 Q2	$2.59M	Buy	37,259 +4,219	+13%	+$288K	0.05%	92
2014 Q1	$2.24M	Buy	33,040 +20,617	+166%	+$1.4M	0.06%	93
2013 Q4	$881K	Buy	+12,423	New	+$836K	0.03%	128