HORIZON TECHNOLOGY FIN CORP

Ticker: HRZN CUSIP: 44045A102 Class: COMMON STOCK

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

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

Q2 2016

Shares 179,012 Value ($000) $2,184 Avg Close $3.89 Range $3.65 - $4.13

Q1 2016

Shares 179,012 Value ($000) $2,078 Avg Close $3.44 Range $2.87 - $3.92

Q4 2015

Shares 179,012 Value ($000) $2,100 Avg Close $3.41 Range $2.78 - $3.92

Q3 2015

Shares 259,069 Value ($000) $2,345 Avg Close $3.24 Range $2.76 - $3.79

Q2 2015

Shares 259,529 Value ($000) $3,291 Avg Close $4.04 Range $3.72 - $4.23

Q1 2015

Shares 275,045 Value ($000) $3,801 Avg Close $3.99 Range $3.75 - $4.22

Q4 2014

Shares 284,969 Value ($000) $3,987 Avg Close $3.88 Range $3.65 - $4.02

Q3 2014

Shares 316,105 Value ($000) $4,255 Avg Close $3.85 Range $3.49 - $3.97

Q2 2014

Shares 332,190 Value ($000) $4,857 Avg Close $3.60 Range $3.26 - $4.05

Q1 2014

Shares 320,594 Value ($000) $4,011 Avg Close $3.61 Range $3.16 - $3.80

Q4 2013

Shares 332,194 Value ($000) $4,720 Avg Close $3.48 Range $3.22 - $3.69

Q3 2013

Shares 332,194 Value ($000) $4,425 Avg Close $3.40 Range $3.25 - $3.57

Q2 2013

Shares 332,194 Value ($000) $4,564 Avg Close $3.38 Range $3.10 - $3.55

Period	Shares	Value ($000)	Average Close	Price Range
Q2 2016	179,012	$2,184	$3.89	$3.65 - $4.13
Q1 2016	179,012	$2,078	$3.44	$2.87 - $3.92
Q4 2015	179,012	$2,100	$3.41	$2.78 - $3.92
Q3 2015	259,069	$2,345	$3.24	$2.76 - $3.79
Q2 2015	259,529	$3,291	$4.04	$3.72 - $4.23
Q1 2015	275,045	$3,801	$3.99	$3.75 - $4.22
Q4 2014	284,969	$3,987	$3.88	$3.65 - $4.02
Q3 2014	316,105	$4,255	$3.85	$3.49 - $3.97
Q2 2014	332,190	$4,857	$3.60	$3.26 - $4.05
Q1 2014	320,594	$4,011	$3.61	$3.16 - $3.80
Q4 2013	332,194	$4,720	$3.48	$3.22 - $3.69
Q3 2013	332,194	$4,425	$3.40	$3.25 - $3.57
Q2 2013	332,194	$4,564	$3.38	$3.10 - $3.55