Q2 Holdings, Inc.

Services-prepackaged Software

NYSE.QTWO

10355 Pecan Park Boulevard, Austin, TX, 78729

Amount	Security	Market Value
297	COM	$23,692
1,781	COM	$142,070
33,014	COM	$2,633,527
510	COM	$40,683
3,611,850	COM	$288,117,275
162,807	COM	$12,987,114
45,811	COM	$3,654,343
227,000	None	$246,813
29,368	COM	$2,342,685
50,260,000	NOTE 0.750% 6/0	$55,120,359
4,846,000	NOTE 0.125%11/1	$4,625,225
43,224	COM	$3,447,978
1,445,376	COMMON STOCKS	$115,297,644
193,273	COM	$15,417,387
5,375,000	NOTE 0.125%11/1	$7,016,825
31,464	COM	$2,509,883
352,864	COM	$28,147,961
51,732	Common	$4,126,662
701,000	BOND	$760,893
76,361	COM	$6,091,317
5,466	COM	$436,023
626,738	Common Stock	$49,995
258,000	NOTE 0.750% 6/0	$280,519
6,779	Common Stock	$540,832
43,488	COM	$3,469,038
7,031	COM	$560,740
42,608	COM	$3,398,840
172,954	COM	$13,796,541
478,218	COM	$38,147,450
75,000	NOTE 0.750% 6/0	$81,546
5,198,000	BOND	$4,951,095
1,209,357	COM	$96,470,498
2,011,756	COM	$160,477,776
307,707	COM	$24,545,787
8,602	COM	$683,085
1,811	COM	$144
140,355	COM	$11,196,118
3,493	COM	$278,637
13,169	Common Stock	$1,050,491
469,880	COM	$37,482,361
167,420	COM	$13,355,093
59,252	COM	$4,726,532
54,000	COM	$4,307,580
32,192	COM	$2,567,956
9,830	COM	$784
5,800,000	CONV	$5,595,686
3,655	Stock	$291,560
647,277	COM	$51,633,286
5,000,000	BOND	$5,427,200
266,079	COM	$21,225,122

Amount	Security	Market Value
297	COM	$23,692
1,781	COM	$142,070
33,014	COM	$2,633,527
510	COM	$40,683
3,611,850	COM	$288,117,275
162,807	COM	$12,987,114
45,811	COM	$3,654,343
227,000	None	$246,813
29,368	COM	$2,342,685
50,260,000	NOTE 0.750% 6/0	$55,120,359
4,846,000	NOTE 0.125%11/1	$4,625,225
43,224	COM	$3,447,978
1,445,376	COMMON STOCKS	$115,297,644
193,273	COM	$15,417,387
5,375,000	NOTE 0.125%11/1	$7,016,825
31,464	COM	$2,509,883
352,864	COM	$28,147,961
51,732	Common	$4,126,662
701,000	BOND	$760,893
76,361	COM	$6,091,317
5,466	COM	$436,023
626,738	Common Stock	$49,995
258,000	NOTE 0.750% 6/0	$280,519
6,779	Common Stock	$540,832
43,488	COM	$3,469,038
7,031	COM	$560,740
42,608	COM	$3,398,840
172,954	COM	$13,796,541
478,218	COM	$38,147,450
75,000	NOTE 0.750% 6/0	$81,546
5,198,000	BOND	$4,951,095
1,209,357	COM	$96,470,498
2,011,756	COM	$160,477,776
307,707	COM	$24,545,787
8,602	COM	$683,085
1,811	COM	$144
140,355	COM	$11,196,118
3,493	COM	$278,637
13,169	Common Stock	$1,050,491
469,880	COM	$37,482,361
167,420	COM	$13,355,093
59,252	COM	$4,726,532
54,000	COM	$4,307,580
32,192	COM	$2,567,956
9,830	COM	$784
5,800,000	CONV	$5,595,686
3,655	Stock	$291,560
647,277	COM	$51,633,286
5,000,000	BOND	$5,427,200
266,079	COM	$21,225,122

Institutional Owners