Monarch Partners Asset Management’s Sapiens International SPNS Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2019 Q4	–	Sell	-31,851	Closed	-$626K	–	197
2019 Q3	$626K	Sell	31,851 -10,725	-25%	-$211K	0.09%	143
2019 Q2	$708K	Buy	42,576 +6,720	+19%	+$112K	0.1%	113
2019 Q1	$548K	Buy	35,856 +11,825	+49%	+$181K	0.08%	147
2018 Q4	$265K	Buy	+24,031	New	+$265K	0.04%	172