PAR Capital Management’s Q2 Holdings QTWO Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2017 Q4	–	Sell	-165,000	Closed	-$6.87M	–	84
2017 Q3	$6.87M	Hold	165,000	–	–	0.08%	68
2017 Q2	$6.1M	Hold	165,000	–	–	0.07%	67
2017 Q1	$5.75M	Hold	165,000	–	–	0.07%	66
2016 Q4	$4.76M	Hold	165,000	–	–	0.06%	67
2016 Q3	$4.73M	Hold	165,000	–	–	0.07%	72
2016 Q2	$4.62M	Hold	165,000	–	–	0.08%	67
2016 Q1	$3.97M	Buy	165,000 +10,000	+6%	+$215K	0.06%	69
2015 Q4	$4.09M	Hold	155,000	–	–	0.08%	69
2015 Q3	$3.83M	Buy	155,000 +30,000	+24%	+$830K	0.08%	71
2015 Q2	$3.53M	Buy	125,000 +17,900	+17%	+$418K	0.08%	65
2015 Q1	$2.26M	Buy	+107,100	New	+$2.11M	0.05%	66