Confluence Investment Management’s ISHARES IBONDS MAR 2016 CORPORATE EX-FINANCIALS ETF IBCB Stock Holding History

Confluence Investment Management’s Portfolio IBCB Stock Details IBCB Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2015 Q1	–	Sell	-24,258	Closed	-$2.42M	–	264
2014 Q4	$2.42M	Buy	24,258 +1,059	+5%	+$106K	0.1%	149
2014 Q3	$2.32M	Buy	23,199 +1,559	+7%	+$156K	0.1%	157
2014 Q2	$2.17M	Buy	21,640 +442	+2%	+$44.3K	0.1%	158
2014 Q1	$2.12M	Buy	21,198 +2,235	+12%	+$223K	0.11%	155
2013 Q4	$1.88M	Buy	18,963 +1,118	+6%	+$112K	0.1%	150
2013 Q3	$1.79M	Buy	17,845 +1,069	+6%	+$107K	0.11%	149
2013 Q2	$1.66M	Buy	+16,776	New	+$1.67M	0.11%	151

Other funds holding IBCB

BFA

BlackRock Fund Advisors San Francisco, California $542B AUM 18.13% 1-Year Est. Return

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

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

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

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

LPL Financial San Diego, California $377B AUM 19.32% 1-Year Est. Return

HighTower Advisors Chicago, Illinois $94.2B AUM 21.24% 1-Year Est. Return

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

TCM

Tradewinds Capital Management Bellingham, Washington $563M AUM 41.52% 1-Year Est. Return

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

Confluence Investment Management's IBCB Position: Q1 2015 in Review

Confluence Investment Management sold out of ISHARES IBONDS MAR 2016 CORPORATE EX-FINANCIALS ETF (IBCB) in Q1 2015, closing a stake of 24,258 shares — an estimated $2.42M sold.

Confluence Investment Management first reported a position in IBCB in Q2 2013 and held it in 7 quarters. The position peaked at $2.42M in Q4 2014. 12 funds tracked by Wall St. Rank hold IBCB as of Q1 2015.

Confluence Investment Management reported no remaining ISHARES IBONDS MAR 2016 CORPORATE EX-FINANCIALS ETF position as of Q1 2015 after selling out during the quarter.
Confluence Investment Management sold 24,258 ISHARES IBONDS MAR 2016 CORPORATE EX-FINANCIALS ETF shares in Q1 2015, an estimated $2.42M.
Confluence Investment Management first reported a position in ISHARES IBONDS MAR 2016 CORPORATE EX-FINANCIALS ETF in Q2 2013 and held it in 7 quarters.
Confluence Investment Management's ISHARES IBONDS MAR 2016 CORPORATE EX-FINANCIALS ETF position peaked at $2.42M in Q4 2014.
12 funds tracked by Wall St. Rank held ISHARES IBONDS MAR 2016 CORPORATE EX-FINANCIALS ETF as of Q1 2015.

Based on Confluence Investment Management's 13F filing for Q1 2015, filed 28 Apr 2015.