Independence Capital Asset Partners’s Arcos Dorados Holdings ARCO Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2014 Q2	–	Sell	-20,556	Closed	-$202K	–	78
2014 Q1	$202K	Buy	+20,556	New	+$202K	0.03%	97
2013 Q4	–	Sell	-229,507	Closed	-$2.65M	–	87
2013 Q3	$2.65M	Buy	+229,507	New	+$2.65M	0.45%	48