Rotella Capital Management’s Sapiens International SPNS Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2016 Q1	–	Sell	-45,324	Closed	-$462K	–	207
2015 Q4	$462K	Sell	45,324 -62,984	-58%	-$642K	0.41%	43
2015 Q3	$1.25M	Buy	+108,308	New	+$1.25M	0.4%	110
2015 Q2	–	Sell	-15,998	Closed	-$131K	–	560
2015 Q1	$131K	Buy	+15,998	New	+$131K	0.11%	318