Telluride Asset Management’s AvalonBay Communities AVB Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2014 Q2	–	Sell	-17,961	Closed	-$2.36M	–	255
2014 Q1	$2.36M	Buy	17,961 +8,800	+96%	+$1.16M	1.98%	4
2013 Q4	$1.08M	Buy	+9,161	New	+$1.08M	1.28%	16