Three Bays Capital’s Franklin Resources BEN Stock Holding History

Three Bays Capital’s Portfolio BEN Stock Details BEN Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2016 Q3	–	Sell	-2,000,000	Closed	-$66.7M	–	18
2016 Q2	$66.7M	Sell	2,000,000 -1,000,000	-33%	-$36.3M	3.47%	12
2016 Q1	$117M	Buy	3,000,000 +2,000,000	+200%	+$70.8M	7.58%	5
2015 Q4	$36.8M	Buy	+1,000,000	New	+$39.1M	1.65%	16

Other funds holding BEN

Massachusetts Financial Services Boston, Massachusetts $298B AUM 21.96% 1-Year Est. Return

Vanguard Group Malvern, Pennsylvania $6.9T AUM 27.45% 1-Year Est. Return

State Street Boston, Massachusetts $2.9T AUM 29.55% 1-Year Est. Return

HCM

Highfields Capital Management Boston, Massachusetts $68.3M AUM 21.64% 1-Year Est. Return

VVP

Vulcan Value Partners Birmingham, Alabama $3.77B AUM 9.63% 1-Year Est. Return

Pzena Investment Management New York $30.8B AUM 11.29% 1-Year Est. Return

BIT

BlackRock Institutional Trust San Francisco, California $675B AUM 16.07% 1-Year Est. Return

Morgan Stanley New York $1.66T AUM 25.57% 1-Year Est. Return

ACM

Abrams Capital Management Boston, Massachusetts $4.64B AUM 1.52% 1-Year Est. Return

Fidelity Investments Boston, Massachusetts $1.9T AUM 41.92% 1-Year Est. Return

Three Bays Capital's BEN Position: Q2 2016 in Review

Three Bays Capital sold out of Franklin Resources (BEN) in Q2 2016, closing a stake of 1,663,200 shares — an estimated $60.4M sold.

Three Bays Capital first reported a position in BEN in Q3 2015 and held it in 3 quarters. The position peaked at $78.2M in Q4 2015. 520 funds tracked by Wall St. Rank hold BEN as of Q2 2016.

Three Bays Capital reported no remaining Franklin Resources position as of Q2 2016 after selling out during the quarter.
Three Bays Capital sold 1,663,200 Franklin Resources shares in Q2 2016, an estimated $60.4M.
Three Bays Capital first reported a position in Franklin Resources in Q3 2015 and held it in 3 quarters.
Three Bays Capital's Franklin Resources position peaked at $78.2M in Q4 2015.
520 funds tracked by Wall St. Rank held Franklin Resources as of Q2 2016.

Based on Three Bays Capital's 13F filing for Q2 2016, filed 15 Aug 2016.