Sphera Funds Management’s Alder Biopharmaceuticals, Inc. ALDR Stock Holding History

Quarter	Market Value	Status	Shares	Shares Change %	Trade Value	Portfolio Weight	Portfolio Position
2016 Q4	–	Sell	-112,500	Closed	-$3.69M	–	126
2016 Q3	$3.69M	Hold	112,500	–	–	0.6%	40
2016 Q2	$2.81M	Buy	112,500 +50,000	+80%	+$1.25M	0.73%	36
2016 Q1	$1.53M	Sell	62,500 -50,000	-44%	-$1.22M	0.33%	64
2015 Q4	$3.72M	Sell	112,500 -12,500	-10%	-$413K	0.54%	31
2015 Q3	$4.1M	Hold	125,000	–	–	0.52%	29
2015 Q2	$6.62M	Sell	125,000 -25,000	-17%	-$1.32M	0.65%	22
2015 Q1	$4.33M	Buy	150,000 +50,000	+50%	+$1.44M	0.45%	50
2014 Q4	$2.91M	Sell	100,000 -50,000	-33%	-$1.45M	0.5%	65
2014 Q3	$1.9M	Buy	+150,000	New	+$1.9M	0.24%	84