Avalon Capital Management’s VanEck Junior Gold Miners ETF GDXJ Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2018 Q2	–	Sell	-12,702	Closed	-$408K	–	58
2018 Q1	$408K	Sell	12,702 -10,726	-46%	-$352K	0.4%	43
2017 Q4	$800K	Sell	23,428 -17,370	-43%	-$567K	0.71%	48
2017 Q3	$1.37M	Buy	+40,798	New	+$1.38M	0.95%	48
2017 Q2	–	Sell	-29,525	Closed	-$1.06M	–	83
2017 Q1	$1.06M	Sell	29,525 -28,159	-49%	-$1.06M	0.74%	46
2016 Q4	$1.82M	Buy	57,684 +19,634	+52%	+$713K	1.39%	26
2016 Q3	$1.69M	Buy	+38,050	New	+$1.8M	1.3%	30
2016 Q2	–	Sell	-19,603	Closed	-$546K	–	83
2016 Q1	$546K	Sell	19,603 -110,036	-85%	-$2.57M	0.44%	47
2015 Q4	$2.49M	Buy	129,639 +92,539	+249%	+$1.86M	2.25%	13
2015 Q3	$727K	Sell	37,100 -94,573	-72%	-$1.92M	0.67%	46
2015 Q2	$3.18M	Buy	131,673 +60,272	+84%	+$1.52M	2.9%	8
2015 Q1	$1.62M	Buy	+71,401	New	+$1.85M	1.31%	35
2014 Q4	–	Sell	-22,260	Closed	-$748K	–	68
2014 Q3	$748K	Sell	22,260 -54,241	-71%	-$2.2M	0.62%	51
2014 Q2	$3.23M	Buy	+76,501	New	+$2.81M	2.69%	7
2014 Q1	–	Sell	-19,670	Closed	-$611K	–	104
2013 Q4	$611K	Buy	+19,670	New	+$677K	0.52%	61