GANNETT WELSH & KOTLER Information

222 BERKELEY ST SUITE 1500, BOSTON, Massachusetts, 02116, (617) 236-8900

Report Date: 12/31/2014

Position Statistics

Total Positions 231
New Positions 7
Increased Positions 150
Decreased Positions 77
Positions with Activity 227
Sold Out Positions 13
Total Mkt Value (in $ millions) 4,086

Institutional Holdings information is filed by major institutions on form 13-F with the Securities and Exchange Commission.

Sector Weighting

Basic Materials 7.06%
Capital Goods 6.98%
Conglomerates
Consumer Cyclical 4.68%
Consumer/Non-Cyclical 3.56%
Energy 4.49%
Financial 15.33%
Healthcare 9.52%
Services 22.36%
Technology 18.93%
Transportation 3.45%
Utilities 3.59%

231 Positions as of 12/31/2014

Company Class Value of Shares ($1,000s) ▼ Change in Value ($1,000s) Change (%) Shares Held
TYLER TECHNOLOGIES INC COM 73,743 1,783 2.48 667,354
MARKETAXESS HLDGS INC COM 73,528 2,848 4.03 968,111
AMERICAN CAMPUS CMNTYS INC COM 70,681 2,738 4.03 1,585,836
NATIONAL HEALTH INVS INC COM 62,643 2,209 3.65 819,296
GRAND CANYON ED INC COM 59,880 -8,579 (12.53) 1,328,886
WEST PHARMACEUTICAL SVSC INC COM 58,831 1,657 2.90 1,172,174
HEARTLAND EXPRESS INC COM 56,953 1,542 2.78 2,177,923
MIDDLEBY CORP COM 56,292 -9,130 (13.96) 586,195
FEI CO COM 53,841 -245 (0.45) 648,299
TEXAS ROADHOUSE INC COM 53,249 -501 (0.93) 1,548,383
CORPORATE EXECUTIVE BRD CO COM 53,063 1,761 3.43 745,792
COGNEX CORP COM 51,807 5,745 12.47 1,367,303
NORTHWESTERN CORP COM NEW 51,491 -1,750 (3.29) 874,649
BLACKBAUD INC COM 50,978 -6,022 (10.57) 1,132,839
GROUP 1 AUTOMOTIVE INC COM 50,177 1,861 3.85 608,275
ICU MED INC COM 49,946 1,031 2.11 579,420
PEBBLEBROOK HOTEL TR COM 49,910 -521 (1.03) 1,030,126
CLECO CORP NEW COM 49,180 -17,881 (26.66) 898,427
TORO CO COM 48,223 2,234 4.86 734,663
RYLAND GROUP INC COM 47,649 1,921 4.20 1,202,661