Confluence Investment Management’s ISHARES IBONDS SEP 2016 TERM MUNI BOND ETF IBME Stock Holding History

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

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2015 Q1	–	Sell	-42,734	Closed	-$1.14M	–	260
2014 Q4	$1.14M	Buy	42,734 +3,844	+10%	+$103K	0.05%	188
2014 Q3	$1.04M	Buy	38,890 +3,018	+8%	+$80.8K	0.05%	196
2014 Q2	$960K	Buy	35,872 +5,642	+19%	+$151K	0.04%	199
2014 Q1	$810K	Buy	30,230 +4,622	+18%	+$124K	0.04%	197
2013 Q4	$686K	Buy	25,608 +5,598	+28%	+$150K	0.04%	194
2013 Q3	$535K	Buy	20,010 +3,222	+19%	+$85.9K	0.03%	200
2013 Q2	$459K	Buy	+16,788	New	+$450K	0.03%	202

Other funds holding IBME

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

Wells Fargo San Francisco, California $530B AUM 22.01% 1-Year Est. Return

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

SEIA

Signature Estate & Investment Advisors Los Angeles, California $5.56B AUM 26.66% 1-Year Est. Return

VCM

Vigilant Capital Management Portland, Maine $1.34B AUM 15.33% 1-Year Est. Return

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

LPT

Legacy Private Trust Neenah, Wisconsin $1.81B AUM 19.87% 1-Year Est. Return

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

UCFA

United Capital Financial Advisors Irving, Texas $16.3B AUM 16.34% 1-Year Est. Return

Davenport & Co Richmond, Virginia $20.4B AUM 18.11% 1-Year Est. Return

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

Confluence Investment Management sold out of ISHARES IBONDS SEP 2016 TERM MUNI BOND ETF (IBME) in Q1 2015, closing a stake of 42,734 shares — an estimated $1.14M sold.

Confluence Investment Management first reported a position in IBME in Q2 2013 and held it in 7 quarters. The position peaked at $1.14M in Q4 2014. 49 funds tracked by Wall St. Rank hold IBME as of Q1 2015.

Confluence Investment Management reported no remaining ISHARES IBONDS SEP 2016 TERM MUNI BOND ETF position as of Q1 2015 after selling out during the quarter.
Confluence Investment Management sold 42,734 ISHARES IBONDS SEP 2016 TERM MUNI BOND ETF shares in Q1 2015, an estimated $1.14M.
Confluence Investment Management first reported a position in ISHARES IBONDS SEP 2016 TERM MUNI BOND ETF in Q2 2013 and held it in 7 quarters.
Confluence Investment Management's ISHARES IBONDS SEP 2016 TERM MUNI BOND ETF position peaked at $1.14M in Q4 2014.
49 funds tracked by Wall St. Rank held ISHARES IBONDS SEP 2016 TERM MUNI BOND ETF as of Q1 2015.

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