HOULIHAN LOKEY INC

Ticker: HLI CUSIP: 441593100 Class: Common Stock

Spark Investment Management LLC's Holding History (CIK: 0001554871)

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

Q1 2018

Shares 35,600 Value ($000) $1,587 Avg Close $40.27 Range $36.88 - $44.87

Q4 2017

Shares 54,400 Value ($000) $2,471 Avg Close $36.25 Range $32.89 - $39.92

Q3 2017

Shares 74,500 Value ($000) $2,915 Avg Close $30.79 Range $28.94 - $33.37

Q2 2017

Shares 122,500 Value ($000) $4,275 Avg Close $28.45 Range $26.82 - $30.64

Q1 2017

Shares 32,600 Value ($000) $1,123 Avg Close $26.57 Range $24.52 - $29.22

Q4 2016

Shares 13,700 Value ($000) $426 Avg Close $22.45 Range $19.15 - $26.37

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2018	35,600	$1,587	$40.27	$36.88 - $44.87
Q4 2017	54,400	$2,471	$36.25	$32.89 - $39.92
Q3 2017	74,500	$2,915	$30.79	$28.94 - $33.37
Q2 2017	122,500	$4,275	$28.45	$26.82 - $30.64
Q1 2017	32,600	$1,123	$26.57	$24.52 - $29.22
Q4 2016	13,700	$426	$22.45	$19.15 - $26.37