CQS Cayman’s Hovnanian Enterprises HOV Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2016 Q1	–	Sell	-29,926	Closed	-$1.35M	–	116
2015 Q4	$1.35M	Sell	29,926 -19,222	-39%	-$870K	0.09%	92
2015 Q3	$2.18M	Buy	49,148 +13,148	+37%	+$582K	0.18%	72
2015 Q2	$2.39M	Buy	+36,000	New	+$2.39M	0.14%	85