McKinley Capital Management’s Sapiens International SPNS Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2016 Q3	–	Sell	-97,242	Closed	-$1.14M	–	578
2016 Q2	$1.14M	Sell	97,242 -79,969	-45%	-$937K	0.06%	221
2016 Q1	$2.12M	Sell	177,211 -134	-0.1%	-$1.61K	0.1%	175
2015 Q4	$1.81M	Buy	177,345 +122	+0.1%	+$1.24K	0.08%	186
2015 Q3	$2.04M	Buy	+177,223	New	+$2.04M	0.1%	180