TOPBUILD CORP

Ticker: BLD CUSIP: 89055F103 Class: EQTY

Covalent Partners LLC's Holding History (CIK: 0001531611)

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

Q1 2016

Shares 453,141 Value ($000) $13,476 Avg Close $27.04 Range $23.02 - $30.65

Q4 2015

Shares 505,841 Value ($000) $15,565 Avg Close $30.00 Range $27.58 - $33.33

Q3 2015

Shares 504,941 Value ($000) $15,638 Avg Close $30.95 Range $26.67 - $36.36

Q2 2015

Shares 680,033 Value ($000) $19,721 Avg Close $24.64 Range $22.75 - $30.40

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2016	453,141	$13,476	$27.04	$23.02 - $30.65
Q4 2015	505,841	$15,565	$30.00	$27.58 - $33.33
Q3 2015	504,941	$15,638	$30.95	$26.67 - $36.36
Q2 2015	680,033	$19,721	$24.64	$22.75 - $30.40