Bailard’s State Street SPDR S&P Bank ETF KBE Stock Holding History

Bailard’s Portfolio KBE Stock Details KBE Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2015 Q4	–	Sell	-7,900	Closed	-$263K	–	279
2015 Q3	$263K	Hold	7,900	–	–	0.04%	208
2015 Q2	$286K	Hold	7,900	–	–	0.04%	202
2015 Q1	$265K	Hold	7,900	–	–	0.04%	202
2014 Q4	$265K	Sell	7,900 -150	-2%	-$4.89K	0.04%	203
2014 Q3	$257K	Sell	8,050 -750	-9%	-$24.4K	0.04%	198
2014 Q2	$294K	Hold	8,800	–	–	0.05%	184
2014 Q1	$300K	Hold	8,800	–	–	0.05%	175
2013 Q4	$292K	Hold	8,800	–	–	0.05%	176
2013 Q3	$264K	Hold	8,800	–	–	0.05%	181
2013 Q2	$253K	Buy	+8,800	New	+$241K	0.05%	157

Other funds holding KBE

Goldman Sachs New York $871B AUM 31.28% 1-Year Est. Return

MIFH

Migdal Insurance & Financial Holdings Petach Tikva, Israel $11.5B AUM 52.5% 1-Year Est. Return

JP Morgan Chase New York $1.56T AUM 27.86% 1-Year Est. Return

Bank of America Charlotte, North Carolina $1.37T AUM 24.88% 1-Year Est. Return

Morgan Stanley New York $1.66T AUM 25.57% 1-Year Est. Return

UBS Group Zurich, Switzerland $666B AUM 30.12% 1-Year Est. Return

Franklin Resources San Mateo, California $408B AUM 30.18% 1-Year Est. Return

PVH

Psagot Value Holdings Tel Aviv, Israel $11M AUM 32.09% 1-Year Est. Return

WBG

Wharton Business Group Malvern, Pennsylvania $2.65B AUM 20.73% 1-Year Est. Return

Schroder Investment Management Group London, United Kingdom $122B AUM 29.27% 1-Year Est. Return

Bailard's KBE Position: Q4 2015 in Review

Bailard sold out of State Street SPDR S&P Bank ETF (KBE) in Q4 2015, closing a stake of 7,900 shares — an estimated $263K sold.

Bailard first reported a position in KBE in Q2 2013 and held it in 10 quarters. The position peaked at $300K in Q1 2014. 151 funds tracked by Wall St. Rank hold KBE as of Q4 2015.

Bailard reported no remaining State Street SPDR S&P Bank ETF position as of Q4 2015 after selling out during the quarter.
Bailard sold 7,900 State Street SPDR S&P Bank ETF shares in Q4 2015, an estimated $263K.
Bailard first reported a position in State Street SPDR S&P Bank ETF in Q2 2013 and held it in 10 quarters.
Bailard's State Street SPDR S&P Bank ETF position peaked at $300K in Q1 2014.
151 funds tracked by Wall St. Rank held State Street SPDR S&P Bank ETF as of Q4 2015.

Based on Bailard's 13F filing for Q4 2015, filed 10 Feb 2016.