IPG PHOTONICS CORP

Ticker: IPGP CUSIP: 44980X109 Class: Common Stock

Connective Capital Management, LLC's Holding History (CIK: 0001543568)

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

Q2 2014

Shares 14,532 Value ($000) $1,001 Avg Close $67.40 Range $60.31 - $75.73

Q1 2014

Shares 45,204 Value ($000) $3,213 Avg Close $70.26 Range $63.53 - $77.57

Q4 2013

Shares 47,776 Value ($000) $3,708 Avg Close $67.99 Range $56.44 - $79.00

Q3 2013

Shares 53,012 Value ($000) $2,986 Avg Close $58.50 Range $53.28 - $67.81

Q2 2013

Shares 22,471 Value ($000) $1,365 Avg Close $61.08 Range $54.32 - $67.24

Period	Shares	Value ($000)	Average Close	Price Range
Q2 2014	14,532	$1,001	$67.40	$60.31 - $75.73
Q1 2014	45,204	$3,213	$70.26	$63.53 - $77.57
Q4 2013	47,776	$3,708	$67.99	$56.44 - $79.00
Q3 2013	53,012	$2,986	$58.50	$53.28 - $67.81
Q2 2013	22,471	$1,365	$61.08	$54.32 - $67.24