Bares Capital Management’s SPDR S&P Emerging Middle East & Africa ETF GAF Stock Holding History

Bares Capital Management’s Portfolio GAF Stock Details GAF Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2015 Q1	–	Sell	-9,634	Closed	-$645K	–	53
2014 Q4	$645K	Sell	9,634 -70	-0.7%	-$4.87K	0.08%	38
2014 Q3	$675K	Sell	9,704 -69	-0.7%	-$5.13K	0.08%	39
2014 Q2	$716K	Hold	9,773	–	–	0.06%	50
2014 Q1	$684K	Buy	9,773 +51	+0.5%	+$3.33K	0.05%	53
2013 Q4	$666K	Sell	9,722 -212	-2%	-$14.5K	0.06%	49
2013 Q3	$668K	Hold	9,934	–	–	0.06%	52
2013 Q2	$617K	Buy	+9,934	New	+$643K	0.06%	53

Other funds holding GAF

Jane Street New York $777B AUM 61.18% 1-Year Est. Return

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

Susquehanna International Group Bala Cynwyd, Pennsylvania $893B AUM 36.07% 1-Year Est. Return

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

VKH

Virtu KCG Holdings New York $3.6B AUM 17.11% 1-Year Est. Return

OMC

Old Mission Capital Chicago, Illinois $6.3B AUM 14.68% 1-Year Est. Return

Royal Bank of Canada Toronto, Ontario, Canada $570B AUM 27.57% 1-Year Est. Return

SAS

Stelac Advisory Services New York $494M AUM 23.25% 1-Year Est. Return

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

PNC Financial Services Group Pittsburgh, Pennsylvania $173B AUM 20.72% 1-Year Est. Return

Bares Capital Management's GAF Position: Q1 2015 in Review

Bares Capital Management sold out of SPDR S&P Emerging Middle East & Africa ETF (GAF) in Q1 2015, closing a stake of 9,634 shares — an estimated $645K sold.

Bares Capital Management first reported a position in GAF in Q2 2013 and held it in 7 quarters. The position peaked at $716K in Q2 2014. 19 funds tracked by Wall St. Rank hold GAF as of Q1 2015.

Bares Capital Management reported no remaining SPDR S&P Emerging Middle East & Africa ETF position as of Q1 2015 after selling out during the quarter.
Bares Capital Management sold 9,634 SPDR S&P Emerging Middle East & Africa ETF shares in Q1 2015, an estimated $645K.
Bares Capital Management first reported a position in SPDR S&P Emerging Middle East & Africa ETF in Q2 2013 and held it in 7 quarters.
Bares Capital Management's SPDR S&P Emerging Middle East & Africa ETF position peaked at $716K in Q2 2014.
19 funds tracked by Wall St. Rank held SPDR S&P Emerging Middle East & Africa ETF as of Q1 2015.

Based on Bares Capital Management's 13F filing for Q1 2015, filed 15 May 2015.