Sandler Capital Management’s Archer Daniels Midland ADM Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2014 Q4	–	Sell	-143,121	Closed	-$7.31M	–	159
2014 Q3	$7.31M	Sell	143,121 -208,379	-59%	-$10.6M	0.35%	73
2014 Q2	$15.5M	Buy	+351,500	New	+$15.5M	0.65%	35