CAPELLA EDUCATION COMPANY

CUSIP: 139594105 Class: COM

DENALI ADVISORS LLC's Holding History (CIK: 0001142941)

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

Q4 2013
Shares 21 Value ($000) $1 Avg Close — Range —
Q3 2013
Shares 21 Value ($000) $1 Avg Close — Range —
Q2 2013
Shares 21 Value ($000) $1 Avg Close — Range —