Three Bays Capital’s Franklin Resources BEN Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2016 Q3	–	Hold	0	–	–	–	14
2016 Q2	–	Sell	-1,663,200	Closed	-$64.9M	–	17
2016 Q1	$64.9M	Sell	1,663,200 -461,800	-22%	-$18M	4.2%	9
2015 Q4	$78.2M	Buy	2,125,000 +1,125,000	+113%	+$41.4M	3.52%	6
2015 Q3	$37.3M	Buy	+1,000,000	New	+$37.3M	1.87%	10