Third Avenue Management’s EXL Service EXLS Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2015 Q1	–	Sell	-75,035	Closed	-$431K	–	136
2014 Q4	$431K	Sell	75,035 -2,676,380	-97%	-$15.4M	0.01%	131
2014 Q3	$13.4M	Hold	2,751,415	–	–	0.28%	90
2014 Q2	$16.2M	Buy	2,751,415 +469,020	+21%	+$2.76M	0.31%	87
2014 Q1	$14.1M	Buy	+2,282,395	New	+$14.1M	0.27%	98