Spark Investment Management’s Capella Education Company CPLA Stock Holding History

Quarter	Market Value	Status	Shares	Shares Change %	Trade Value	Portfolio Weight	Portfolio Position
2018 Q1	–	Sell	-25,945	Closed	-$2.01M	–	816
2017 Q4	$2.01M	Hold	25,945	–	–	0.11%	261
2017 Q3	$1.82M	Sell	25,945 -27,055	-51%	-$1.9M	0.1%	287
2017 Q2	$4.54M	Sell	53,000 -5,800	-10%	-$496K	0.28%	110
2017 Q1	$5M	Hold	58,800	–	–	0.32%	80
2016 Q4	$5.16M	Hold	58,800	–	–	0.42%	49
2016 Q3	$3.41M	Buy	58,800 +10,700	+22%	+$621K	0.28%	106
2016 Q2	$2.53M	Buy	48,100 +22,900	+91%	+$1.2M	0.24%	142
2016 Q1	$1.33M	Hold	25,200	–	–	0.13%	243
2015 Q4	$1.16M	Buy	+25,200	New	+$1.16M	0.15%	205
2015 Q3	–	Sell	-8,900	Closed	-$477K	–	807
2015 Q2	$477K	Hold	8,900	–	–	0.07%	369
2015 Q1	$576K	Hold	8,900	–	–	0.08%	338
2014 Q4	$683K	Buy	+8,900	New	+$683K	0.11%	260
2014 Q3	–	Sell	-12,800	Closed	-$696K	–	768
2014 Q2	$696K	Sell	12,800 -26,000	-67%	-$1.41M	0.1%	284
2014 Q1	$2.44M	Hold	38,800	–	–	0.38%	66
2013 Q4	$2.57M	Buy	38,800 +21,700	+127%	+$1.44M	0.45%	46
2013 Q3	$965K	Buy	17,100 +7,300	+74%	+$412K	0.22%	144
2013 Q2	$407K	Buy	+9,800	New	+$407K	0.11%	231