Digimarc Corp (DMRC)

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Institutional Investors' Holdings

Filing Period:

No.	Name	Shares	Value	% Port
1.	Vanguard Group Inc	1,308,979	$49,021,263	0%
2.	Blackrock, Inc.	1,259,458	$47,166,702	0%
3.	Lagoda Investment Management, L.p.	628,275	$23,528,899	12.72%
4.	Kimelman & Baird, Llc	582,777	$21,824,999	1.73%
5.	Baillie Gifford & Co	492,530	$18,445,249	0.01%