Cat Rock Capital Management’s Sapiens International SPNS Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2016 Q3	–	Sell	-25,309	Closed	-$296K	–	9
2016 Q2	$296K	Buy	+25,309	New	+$296K	0.15%	10