MARCUS & MILLICHAP INC

Ticker: MMI CUSIP: 566324109 Class: Common Stock

Penn Capital Management Company, LLC's Holding History (CIK: 0001158202)

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

Q1 2014

Shares 163,993 Value ($000) $2,926 Avg Close $14.92 Range $12.55 - $17.14

Q4 2013

Shares 175,035 Value ($000) $2,608 Avg Close $13.09 Range $12.12 - $14.53

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2014	163,993	$2,926	$14.92	$12.55 - $17.14
Q4 2013	175,035	$2,608	$13.09	$12.12 - $14.53