BOSTON BEER INC

Ticker: SAM CUSIP: 100557107 Class: CL A

CONFLUENCE INVESTMENT MANAGEMENT LLC's Holding History (CIK: 0001442056)

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

Q2 2018

Shares 22,510 Value ($000) $6,747 Avg Close $243.65 Range $185.95 - $307.00

Q1 2018

Shares 28,005 Value ($000) $5,295 Avg Close $183.93 Range $160.40 - $202.35

Q4 2017

Shares 27,257 Value ($000) $5,208 Avg Close $178.64 Range $155.75 - $197.05

Q3 2017

Shares 26,682 Value ($000) $4,167 Avg Close $146.09 Range $128.75 - $165.80

Q2 2017

Shares 26,083 Value ($000) $3,447 Avg Close $139.90 Range $128.70 - $149.70

Q1 2017

Shares 22,107 Value ($000) $3,198 Avg Close $156.51 Range $141.55 - $175.60

Q4 2016

Shares 8,747 Value ($000) $1,486 Avg Close $165.63 Range $145.30 - $180.45

Period	Shares	Value ($000)	Average Close	Price Range
Q2 2018	22,510	$6,747	$243.65	$185.95 - $307.00
Q1 2018	28,005	$5,295	$183.93	$160.40 - $202.35
Q4 2017	27,257	$5,208	$178.64	$155.75 - $197.05
Q3 2017	26,682	$4,167	$146.09	$128.75 - $165.80
Q2 2017	26,083	$3,447	$139.90	$128.70 - $149.70
Q1 2017	22,107	$3,198	$156.51	$141.55 - $175.60
Q4 2016	8,747	$1,486	$165.63	$145.30 - $180.45