TRAVELZOO

Ticker: TZOO CUSIP: 89421Q205 Class: Common Stock

Capital Impact Advisors, LLC's Holding History (CIK: 0001602198)

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

Q4 2014

Shares 6,490 Value ($000) $82 Avg Close $13.18 Range $12.07 - $16.26

Q3 2014

Shares 8,399 Value ($000) $130 Avg Close $17.30 Range $15.50 - $19.72

Q2 2014

Shares 8,399 Value ($000) $163 Avg Close $19.11 Range $17.03 - $23.55

Q1 2014

Shares 38,023 Value ($000) $871 Avg Close $22.73 Range $19.16 - $26.98

Q4 2013

Shares 38,023 Value ($000) $811 Avg Close $22.00 Range $20.04 - $27.50

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2014	6,490	$82	$13.18	$12.07 - $16.26
Q3 2014	8,399	$130	$17.30	$15.50 - $19.72
Q2 2014	8,399	$163	$19.11	$17.03 - $23.55
Q1 2014	38,023	$871	$22.73	$19.16 - $26.98
Q4 2013	38,023	$811	$22.00	$20.04 - $27.50