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Q2 Holdings Inc. (QTWO)

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Institutional Investors' Holdings

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No.	Name	Shares	Value	% Port
1.	Vanguard Group Inc	6,963,712	$700,897,613	0.01%
2.	Blackrock, Inc.	5,829,325	$586,721,559	0.01%
3.	Invesco Ltd.	2,614,266	$263,125,875	0.04%
4.	Wasatch Advisors Inc	2,116,062	$212,981,640	1.05%
5.	William Blair Investment Management, Llc	2,013,368	$202,645,489	0.49%