Highfields Capital Management’s Intercontinental Exchange ICE Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2017 Q3	–	Sell	-2,626,115	Closed	-$173M	–	66
2017 Q2	$173M	Sell	2,626,115 -386,000	-13%	-$23.7M	1.28%	23
2017 Q1	$180M	Hold	3,012,115	–	–	1.67%	19
2016 Q4	$170M	Sell	3,012,115 -452,235	-13%	-$25M	1.41%	21
2016 Q3	$187M	Sell	3,464,350 -350,000	-9%	-$19.1M	1.75%	19
2016 Q2	$195M	Sell	3,814,350 -3,036,500	-44%	-$153M	1.7%	21
2016 Q1	$322M	Sell	6,850,850 -3,895,260	-36%	-$189M	3.01%	14
2015 Q4	$551M	Sell	10,746,110 -534,655	-5%	-$26.9M	4.74%	5
2015 Q3	$530M	Sell	11,280,765 -2,845,165	-20%	-$132M	4.68%	6
2015 Q2	$632M	Sell	14,125,930 -2,509,835	-15%	-$116M	5.67%	5
2015 Q1	$776M	Sell	16,635,765 -2,378,120	-13%	-$107M	6.92%	5
2014 Q4	$834M	Hold	19,013,885	–	–	7.09%	3
2014 Q3	$742M	Hold	19,013,885	–	–	5.78%	3
2014 Q2	$718M	Buy	19,013,885 +1,523,000	+9%	+$59.4M	5.27%	5
2014 Q1	$692M	Buy	17,490,885 +6,012,000	+52%	+$254M	5.8%	3
2013 Q4	$516M	Buy	11,478,885 +859,530	+8%	+$35.4M	4.2%	6
2013 Q3	$385M	Hold	10,619,355	–	–	3.04%	7
2013 Q2	$378M	Buy	+10,619,355	New	+$356M	3.13%	9