Waterstone Capital Management’s State Bank Financial Corporation. Common Stock STBZ Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2018 Q4	–	Sell	-129,315	Closed	-$3.9M	–	11
2018 Q3	$3.9M	Sell	129,315 -68,820	-35%	-$2.23M	6.03%	5
2018 Q2	$6.62M	Hold	198,135	–	–	6.79%	5
2018 Q1	$5.95M	Hold	198,135	–	–	5.38%	6
2017 Q4	$5.91M	Hold	198,135	–	–	4.3%	9
2017 Q3	$5.68M	Hold	198,135	–	–	3.66%	10
2017 Q2	$5.37M	Hold	198,135	–	–	3.12%	12
2017 Q1	$5.17M	Hold	198,135	–	–	2.08%	13
2016 Q4	$5.32M	Hold	198,135	–	–	2.61%	11
2016 Q3	$4.21M	Sell	198,135 -151,735	-43%	-$3.37M	2.15%	11
2016 Q2	$7.12M	Buy	349,870 +3,808	+1%	+$78.3K	3.38%	10
2016 Q1	$6.84M	Buy	+346,062	New	+$6.71M	3.51%	10
2015 Q3	–	Sell	-85,653	Closed	-$1.86M	–	20
2015 Q2	$1.86M	Sell	85,653 -55,897	-39%	-$1.15M	0.9%	16
2015 Q1	$2.97M	Sell	141,550 -283,349	-67%	-$5.61M	1.44%	14
2014 Q4	$8.49M	Sell	424,899 -219,994	-34%	-$4.04M	4.1%	12
2014 Q3	$10.5M	Sell	644,893 -61,028	-9%	-$1.02M	4.57%	10
2014 Q2	$11.9M	Sell	705,921 -414,649	-37%	-$6.91M	6.73%	7
2014 Q1	$19.8M	Sell	1,120,570 -481,466	-30%	-$8.38M	5.04%	7
2013 Q4	$29.1M	Sell	1,602,036 -189,965	-11%	-$3.22M	5.36%	5
2013 Q3	$28.4M	Sell	1,792,001 -288,902	-14%	-$4.55M	3.48%	9
2013 Q2	$31.3M	Buy	+2,080,903	New	+$31.7M	2.85%	12