Nine Chapters Capital Management’s OneSpan OSPN Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2014 Q4	–	Sell	-29,100	Closed	-$546K	–	1099
2014 Q3	$546K	Buy	29,100 +9,600	+49%	+$180K	0.05%	494
2014 Q2	$226K	Sell	19,500 -2,000	-9%	-$23.2K	0.02%	792
2014 Q1	$162K	Buy	21,500 +11,500	+115%	+$86.7K	0.02%	741
2013 Q4	$77K	Buy	+10,000	New	+$77K	0.01%	759