Forward Management’s Hexcel HXL Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2014 Q1	–	Sell	-20,000	Closed	-$894K	–	368
2013 Q4	$894K	Hold	20,000	–	–	0.05%	158
2013 Q3	$776K	Sell	20,000 -6,000	-23%	-$233K	0.05%	172
2013 Q2	$887K	Buy	+26,000	New	+$887K	0.07%	155