F&C Asset Management’s Grand Canyon Education LOPE Stock Holding History

Quarter	Market Value	Status	Shares	Shares Change %	Trade Value	Portfolio Weight	Portfolio Position
2014 Q1	$8.09M	Sell	173,273 -175,552	-50%	-$8.2M	0.1%	262
2013 Q4	$15.2M	Sell	348,825 -71,344	-17%	-$3.11M	0.19%	177
2013 Q3	$16.9M	Sell	420,169 -85,856	-17%	-$3.46M	0.22%	138
2013 Q2	$16.3M	Buy	+506,025	New	+$16.3M	0.22%	126