Boyd Watterson Asset Management’s U.S. BANCORP Depositary Shares Each Representing a 1/1,000th Interest in a Share of Series H Non-Cum USB.PRO Stock Holding History

Quarter	Market Value	Status	Shares	Shares Change %	Trade Value	Portfolio Weight	Portfolio Position
2014 Q1	–	Sell	-26,470	Closed	-$529K	–	176
2013 Q4	$529K	Sell	26,470 -3,245	-11%	-$64.9K	0.25%	110
2013 Q3	$624K	Buy	29,715 +1,545	+5%	+$32.4K	0.3%	82
2013 Q2	$661K	Buy	+28,170	New	+$661K	0.34%	79