Spruce House Investment Management’s Installed Building Products IBP Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2020 Q1	–	Sell	-402,500	Closed	-$27.7M	–	7
2019 Q4	$27.7M	Sell	402,500 -1,578,500	-80%	-$106M	0.91%	7
2019 Q3	$114M	Sell	1,981,000 -819,000	-29%	-$46M	4.11%	7
2019 Q2	$166M	Hold	2,800,000	–	–	6.23%	7
2019 Q1	$136M	Hold	2,800,000	–	–	4.99%	7
2018 Q4	$94.3M	Hold	2,800,000	–	–	4.34%	7
2018 Q3	$109M	Hold	2,800,000	–	–	3.59%	7
2018 Q2	$158M	Hold	2,800,000	–	–	5.79%	7
2018 Q1	$168M	Hold	2,800,000	–	–	7.38%	6
2017 Q4	$213M	Hold	2,800,000	–	–	10.37%	4
2017 Q3	$181M	Hold	2,800,000	–	–	11.72%	4
2017 Q2	$148M	Buy	2,800,000 +717,614	+34%	+$36.9M	10.03%	5
2017 Q1	$110M	Hold	2,082,386	–	–	9.44%	4
2016 Q4	$86M	Buy	2,082,386 +371,786	+22%	+$14.2M	8.64%	5
2016 Q3	$61.4M	Hold	1,710,600	–	–	6.98%	5
2016 Q2	$62.1M	Hold	1,710,600	–	–	8.65%	5
2016 Q1	$45.5M	Hold	1,710,600	–	–	6.18%	5
2015 Q4	$42.5M	Hold	1,710,600	–	–	6.67%	5
2015 Q3	$43.2M	Hold	1,710,600	–	–	8.01%	5
2015 Q2	$41.9M	Hold	1,710,600	–	–	8.26%	5
2015 Q1	$37.2M	Hold	1,710,600	–	–	7.81%	4
2014 Q4	$30.5M	Buy	+1,710,600	New	+$27.5M	7.61%	5