FERRARI N V

Ticker: RACE CUSIP: N3167Y103 Class: COM

Nantahala Capital Management, LLC's Holding History (CIK: 0001472322)

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

Q4 2016

Shares 129,064 Value ($000) $7,504 Avg Close $54.54 Range $50.39 - $58.86

Q3 2016

Shares 189,582 Value ($000) $9,834 Avg Close $46.58 Range $38.80 - $52.18

Q2 2016

Shares 189,582 Value ($000) $7,760 Avg Close $42.47 Range $38.71 - $46.55

Q1 2016

Shares 215,082 Value ($000) $8,969 Avg Close $40.37 Range $31.66 - $48.73

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2016	129,064	$7,504	$54.54	$50.39 - $58.86
Q3 2016	189,582	$9,834	$46.58	$38.80 - $52.18
Q2 2016	189,582	$7,760	$42.47	$38.71 - $46.55
Q1 2016	215,082	$8,969	$40.37	$31.66 - $48.73