Pembroke Management’s AAC Holdings AAC Stock Holding History

Pembroke Management’s Portfolio AAC Stock Details AAC Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2016 Q4	–	Sell	-1,100,763	Closed	-$19.1M	–	62
2016 Q3	$19.1M	Sell	1,100,763 -45,000	-4%	-$887K	1.9%	21
2016 Q2	$26.1M	Sell	1,145,763 -34,400	-3%	-$701K	2.39%	15
2016 Q1	$23.4M	Buy	1,180,163 +214,600	+22%	+$4.06M	2.05%	23
2015 Q4	$18.4M	Sell	965,563 -86,000	-8%	-$2.03M	1.48%	30
2015 Q3	$23.4M	Buy	1,051,563 +579,363	+123%	+$16.9M	1.74%	30
2015 Q2	$20.6M	Buy	+472,200	New	+$17.4M	1.31%	36

Other funds holding AAC

Deerfield Management New York $8.48B AUM 99.04% 1-Year Est. Return

SIMG

Stephens Investment Management Group Houston, Texas $7.3B AUM 41.96% 1-Year Est. Return

DDC

DF Dent & Co Baltimore, Maryland $5.22B AUM 2.07% 1-Year Est. Return

CAM

Cortina Asset Management Milwaukee, Wisconsin $1.62B AUM 15.44% 1-Year Est. Return

Morgan Stanley New York $1.66T AUM 25.57% 1-Year Est. Return

AGA

Altrinsic Global Advisors Stamford, Connecticut $2.79B AUM 7.25% 1-Year Est. Return

Vanguard Group Malvern, Pennsylvania $6.9T AUM 27.45% 1-Year Est. Return

MIP

Mondrian Investment Partners London, United Kingdom $6.69B AUM

Bank of America Charlotte, North Carolina $1.37T AUM 24.88% 1-Year Est. Return

BFA

BlackRock Fund Advisors San Francisco, California $542B AUM 18.13% 1-Year Est. Return

Pembroke Management's AAC Position: Q4 2016 in Review

Pembroke Management sold out of AAC Holdings (AAC) in Q4 2016, closing a stake of 1,100,763 shares — an estimated $19.1M sold.

Pembroke Management first reported a position in AAC in Q2 2015 and held it in 6 quarters. The position peaked at $26.1M in Q2 2016. 73 funds tracked by Wall St. Rank hold AAC as of Q4 2016.

Pembroke Management reported no remaining AAC Holdings position as of Q4 2016 after selling out during the quarter.
Pembroke Management sold 1,100,763 AAC Holdings shares in Q4 2016, an estimated $19.1M.
Pembroke Management first reported a position in AAC Holdings in Q2 2015 and held it in 6 quarters.
Pembroke Management's AAC Holdings position peaked at $26.1M in Q2 2016.
73 funds tracked by Wall St. Rank held AAC Holdings as of Q4 2016.

Based on Pembroke Management's 13F filing for Q4 2016, filed 17 Jan 2017.