AMERICAN RAILCAR INDS INC

CUSIP: 02916P103 Class: COMMON STOCK

DELPHI MANAGEMENT INC /MA/'s Holding History (CIK: 0000767684)

Note: Option positions (PUT/CALL) are excluded.

Q3 2013
Shares 69,250 Value ($000) $2,717 Avg Close — Range —
Q2 2013
Shares 20,820 Value ($000) $698 Avg Close — Range —