Ashford Investment Management’s Topgolf Callaway Brands MODG Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2016 Q1	–	Sell	-455,000	Closed	-$4.29M	–	18
2015 Q4	$4.29M	Buy	+455,000	New	+$4.29M	2.6%	7