Confluence Investment Management’s American Capital Ltd ACAS Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2016 Q4	–	Sell	-347,780	Closed	-$5.88M	–	246
2016 Q3	$5.88M	Buy	347,780 +5,719	+2%	+$94.7K	0.15%	114
2016 Q2	$5.42M	Buy	342,061 +8,800	+3%	+$139K	0.15%	124
2016 Q1	$5.08M	Sell	333,261 -47,123	-12%	-$657K	0.15%	122
2015 Q4	$5.25M	Buy	380,384 +103,901	+38%	+$1.42M	0.17%	120
2015 Q3	$3.36M	Buy	276,483 +7,487	+3%	+$100K	0.12%	135
2015 Q2	$3.65M	Sell	268,996 -253,935	-49%	-$3.69M	0.13%	136
2015 Q1	$7.73M	Buy	522,931 +91,355	+21%	+$1.34M	0.29%	84
2014 Q4	$6.3M	Buy	431,576 +39,598	+10%	+$578K	0.26%	96
2014 Q3	$5.55M	Buy	391,978 +137,222	+54%	+$2.09M	0.25%	104
2014 Q2	$3.9M	Buy	254,756 +126,850	+99%	+$1.89M	0.18%	121
2014 Q1	$2.02M	Sell	127,906 -42,802	-25%	-$660K	0.1%	159
2013 Q4	$2.67M	Hold	170,708	–	–	0.15%	134
2013 Q3	$2.35M	Sell	170,708 -20,375	-11%	-$268K	0.15%	139
2013 Q2	$2.42M	Buy	+191,083	New	+$2.63M	0.17%	139