TFS Capital’s Sapiens International SPNS Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2014 Q3	–	Sell	-34,343	Closed	-$275K	–	1196
2014 Q2	$275K	Sell	34,343 -125,721	-79%	-$1.01M	0.02%	855
2014 Q1	$1.3M	Sell	160,064 -36,259	-18%	-$294K	0.09%	353
2013 Q4	$1.51M	Buy	+196,323	New	+$1.51M	0.07%	401