CAPELLA EDUCATION COMPANY

CUSIP: 139594105 Class: COM

LEUTHOLD GROUP, LLC's Holding History (CIK: 0001170152)

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

Q1 2014
Shares 70,219 Value ($000) $4,434 Avg Close — Range —
Q4 2013
Shares 71,035 Value ($000) $4,720 Avg Close — Range —
Q3 2013
Shares 58,717 Value ($000) $3,321 Avg Close — Range —
Q2 2013
Shares 61,703 Value ($000) $2,570 Avg Close — Range —