Penn Capital Management’s Cogent Communications CCOI Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2014 Q1	–	Sell	-335,084	Closed	-$13.5M	–	304
2013 Q4	$13.5M	Sell	335,084 -4,798	-1%	-$194K	0.49%	78
2013 Q3	$11M	Buy	339,882 +62,242	+22%	+$2.01M	0.45%	79
2013 Q2	$7.82M	Buy	+277,640	New	+$7.82M	0.32%	118