Pembroke Management’s Liberty Tax, Inc. Class A TAX Stock Holding History

Pembroke Management’s Portfolio TAX Stock Details TAX Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2016 Q2	–	Sell	-606,408	Closed	-$11.9M	–	57
2016 Q1	$11.9M	Sell	606,408 -16,600	-3%	-$314K	1.04%	42
2015 Q4	$14.8M	Sell	623,008 -55,900	-8%	-$1.27M	1.2%	35
2015 Q3	$15.8M	Sell	678,908 -12,155	-2%	-$296K	1.17%	39
2015 Q2	$17.1M	Buy	691,063 +110,900	+19%	+$2.8M	1.09%	40
2015 Q1	$16.1M	Buy	580,163 +378,300	+187%	+$12.3M	1.02%	38
2014 Q4	$7.21M	Buy	+201,863	New	+$7.33M	0.44%	43

Other funds holding TAX

NTCM

Nine Ten Capital Management Chicago, Illinois $315M AUM 62.95% 1-Year Est. Return

Royce & Associates New York $10.1B AUM 42.88% 1-Year Est. Return

Wells Fargo San Francisco, California $530B AUM 22.01% 1-Year Est. Return

SBCM

Schwerin Boyle Capital Management Springfield, Massachusetts $788M AUM 13.82% 1-Year Est. Return

Formula Growth Montreal, Quebec, Canada $222M AUM 27.84% 1-Year Est. Return

Continental Advisors Park City, Utah $237M AUM 21.65% 1-Year Est. Return

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

BFA

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

KCM

Kennedy Capital Management St Louis, Missouri $4.72B AUM 36.69% 1-Year Est. Return

RCM

Rutabaga Capital Management Boston, Massachusetts $115M AUM 11.85% 1-Year Est. Return

Pembroke Management's TAX Position: Q2 2016 in Review

Pembroke Management sold out of Liberty Tax, Inc. Class A (TAX) in Q2 2016, closing a stake of 606,408 shares — an estimated $11.9M sold.

Pembroke Management first reported a position in TAX in Q4 2014 and held it in 6 quarters. The position peaked at $17.1M in Q2 2015. 56 funds tracked by Wall St. Rank hold TAX as of Q2 2016.

Pembroke Management reported no remaining Liberty Tax, Inc. Class A position as of Q2 2016 after selling out during the quarter.
Pembroke Management sold 606,408 Liberty Tax, Inc. Class A shares in Q2 2016, an estimated $11.9M.
Pembroke Management first reported a position in Liberty Tax, Inc. Class A in Q4 2014 and held it in 6 quarters.
Pembroke Management's Liberty Tax, Inc. Class A position peaked at $17.1M in Q2 2015.
56 funds tracked by Wall St. Rank held Liberty Tax, Inc. Class A as of Q2 2016.

Based on Pembroke Management's 13F filing for Q2 2016, filed 22 Jul 2016.