Southpoint Capital Advisors’s Bank of N.T. Butterfield & Son NTB Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2020 Q2	–	Sell	-1,110,500	Closed	-$18.9M	–	66
2020 Q1	$18.9M	Sell	1,110,500 -889,500	-44%	-$26.1M	0.55%	34
2019 Q4	$74M	Hold	2,000,000	–	–	2.67%	15
2019 Q3	$59.3M	Hold	2,000,000	–	–	2.24%	21
2019 Q2	$67.9M	Sell	2,000,000 -7,400	-0.4%	-$273K	2.57%	18
2019 Q1	$72M	Buy	2,007,400 +7,400	+0.4%	+$266K	3.06%	16
2018 Q4	$62.7M	Buy	2,000,000 +300,000	+18%	+$12.3M	3.03%	17
2018 Q3	$88.2M	Buy	1,700,000 +100,000	+6%	+$5.04M	3.41%	16
2018 Q2	$73.2M	Buy	1,600,000 +200,000	+14%	+$9.46M	3.11%	14
2018 Q1	$62.8M	Hold	1,400,000	–	–	2.79%	16
2017 Q4	$50.8M	Buy	1,400,000 +200,000	+17%	+$7.44M	2.42%	19
2017 Q3	$44M	Hold	1,200,000	–	–	1.81%	20
2017 Q2	$40.9M	Buy	1,200,000 +268,861	+29%	+$8.96M	1.63%	24
2017 Q1	$29.7M	Buy	931,139 +331,139	+55%	+$10.8M	1.29%	24
2016 Q4	$18.9M	Sell	600,000 -58,163	-9%	-$1.63M	0.87%	28
2016 Q3	$16.3M	Buy	+658,163	New	+$16M	0.73%	22