Telluride Asset Management’s Mercer International MERC Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2014 Q2	–	Sell	-25,171	Closed	-$189K	–	299
2014 Q1	$189K	Buy	+25,171	New	+$189K	0.16%	193