Avalon Capital Management’s State Street SPDR S&P Oil & Gas Exploration & Production ETF XOP Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2018 Q1	–	Sell	-8,832	Closed	-$1.31M	–	89
2017 Q4	$1.31M	Buy	+8,832	New	+$1.23M	1.17%	29
2017 Q2	–	Sell	-13,178	Closed	-$1.97M	–	105
2017 Q1	$1.97M	Buy	+13,178	New	+$2.05M	1.37%	26
2016 Q4	–	Sell	-4,859	Closed	-$748K	–	98
2016 Q3	$748K	Buy	+4,859	New	+$697K	0.58%	49
2016 Q2	–	Sell	-16,239	Closed	-$1.97M	–	102
2016 Q1	$1.97M	Buy	+16,239	New	+$1.76M	1.58%	22
2015 Q2	–	Sell	-9,156	Closed	-$1.89M	–	79
2015 Q1	$1.89M	Buy	+9,156	New	+$1.78M	1.53%	28
2014 Q2	–	Sell	-8,412	Closed	-$2.42M	–	119
2014 Q1	$2.42M	Buy	8,412 +6,589	+361%	+$1.79M	1.95%	14
2013 Q4	$500K	Buy	1,823 +208	+13%	+$56.9K	0.42%	71
2013 Q3	$425K	Buy	+1,615	New	+$406K	0.42%	65