Kestrel Investment Management’s Zix Corporation ZIXI Stock Holding History

Quarter	Market Value	Status	Shares	Shares Change %	Trade Value	Portfolio Weight	Portfolio Position
2018 Q2	–	Sell	-425,650	Closed	-$1.82M	–	47
2018 Q1	$1.82M	Sell	425,650 -19,900	-4%	-$85K	0.69%	39
2017 Q4	$1.95M	Sell	445,550 -13,100	-3%	-$57.4K	0.68%	41
2017 Q3	$2.24M	Sell	458,650 -5,100	-1%	-$24.9K	0.79%	42
2017 Q2	$2.64M	Sell	463,750 -22,000	-5%	-$125K	0.98%	41
2017 Q1	$2.34M	Sell	485,750 -23,700	-5%	-$114K	0.87%	41
2016 Q4	$2.52M	Sell	509,450 -2,600	-0.5%	-$12.8K	0.94%	40
2016 Q3	$2.1M	Sell	512,050 -55,800	-10%	-$229K	0.89%	39
2016 Q2	$2.13M	Sell	567,850 -73,700	-11%	-$276K	0.88%	38
2016 Q1	$2.52M	Sell	641,550 -6,900	-1%	-$27.1K	0.97%	40
2015 Q4	$3.29M	Sell	648,450 -97,450	-13%	-$495K	1.32%	33
2015 Q3	$3.14M	Sell	745,900 -10,100	-1%	-$42.5K	1.09%	33
2015 Q2	$3.91M	Sell	756,000 -208,700	-22%	-$1.08M	1.21%	35
2015 Q1	$3.79M	Sell	964,700 -54,300	-5%	-$213K	0.52%	53
2014 Q4	$3.67M	Sell	1,019,000 -34,100	-3%	-$123K	0.49%	51
2014 Q3	$3.6M	Sell	1,053,100 -54,600	-5%	-$187K	0.51%	51
2014 Q2	$3.79M	Sell	1,107,700 -21,100	-2%	-$72.2K	0.47%	52
2014 Q1	$4.67M	Buy	+1,128,800	New	+$4.67M	0.58%	48