Orbis Allan Gray’s SAP SAP Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2016 Q4	–	Sell	-183,373	Closed	-$16.8M	–	71
2016 Q3	$16.8M	Sell	183,373 -1,202	-0.7%	-$110K	0.12%	57
2016 Q2	$13.8M	Hold	184,575	–	–	0.11%	56
2016 Q1	$14.8M	Buy	+184,575	New	+$14.8M	0.12%	58