Findlay Park Partners’s Franklin Resources BEN Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2014 Q4	–	Sell	-1,170,000	Closed	-$63.9M	–	111
2014 Q3	$63.9M	Sell	1,170,000 -351,000	-23%	-$19.2M	0.68%	60
2014 Q2	$88M	Hold	1,521,000	–	–	0.91%	45
2014 Q1	$82.4M	Buy	+1,521,000	New	+$82.4M	0.93%	42