Confluence Investment Management’s iShares iBonds Sep 2017 Term Muni Bond ETF IBMF Stock Holding History

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

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2016 Q1	–	Sell	-99,413	Closed	-$2.72M	–	248
2015 Q4	$2.72M	Buy	99,413 +11,278	+13%	+$309K	0.09%	149
2015 Q3	$2.42M	Sell	88,135 -243	-0.3%	-$6.67K	0.09%	156
2015 Q2	$2.43M	Buy	88,378 +12,086	+16%	+$332K	0.09%	158
2015 Q1	$2.1M	Buy	76,292 +11,354	+17%	+$313K	0.08%	161
2014 Q4	$1.78M	Buy	64,938 +8,162	+14%	+$225K	0.07%	162
2014 Q3	$1.57M	Buy	56,776 +4,412	+8%	+$122K	0.07%	178
2014 Q2	$1.45M	Buy	52,364 +8,194	+19%	+$226K	0.07%	180
2014 Q1	$1.22M	Buy	44,170 +6,736	+18%	+$186K	0.06%	189
2013 Q4	$1.03M	Buy	37,434 +7,912	+27%	+$218K	0.06%	188
2013 Q3	$811K	Buy	29,522 +4,722	+19%	+$129K	0.05%	190
2013 Q2	$666K	Buy	+24,800	New	+$686K	0.05%	189

Other funds holding IBMF

Bank of America Charlotte, North Carolina $1.55T AUM 33.47% 1-Year Est. Return

Wells Fargo San Francisco, California $617B AUM 30.33% 1-Year Est. Return

VCM

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

Morgan Stanley New York $1.89T AUM 35.08% 1-Year Est. Return

SEIA

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

UBS Group Zurich, Switzerland $786B AUM 40.34% 1-Year Est. Return

UCFA

United Capital Financial Advisors Irving, Texas $18.2B AUM 22.02% 1-Year Est. Return

Envestnet Asset Management Chicago, Illinois $424B AUM 22.96% 1-Year Est. Return

LPL Financial San Diego, California $445B AUM 25.58% 1-Year Est. Return

Royal Bank of Canada Toronto, Ontario, Canada $672B AUM 33.48% 1-Year Est. Return

Confluence Investment Management's IBMF Position: Q1 2016 in Review

Confluence Investment Management sold out of iShares iBonds Sep 2017 Term Muni Bond ETF (IBMF) in Q1 2016, closing a stake of 99,413 shares — an estimated $2.72M sold.

Confluence Investment Management first reported a position in IBMF in Q2 2013 and held it in 11 quarters. The position peaked at $2.72M in Q4 2015. 54 funds tracked by Wall St. Rank hold IBMF as of Q1 2016.

Confluence Investment Management reported no remaining iShares iBonds Sep 2017 Term Muni Bond ETF position as of Q1 2016 after selling out during the quarter.
Confluence Investment Management sold 99,413 iShares iBonds Sep 2017 Term Muni Bond ETF shares in Q1 2016, an estimated $2.72M.
Confluence Investment Management first reported a position in iShares iBonds Sep 2017 Term Muni Bond ETF in Q2 2013 and held it in 11 quarters.
Confluence Investment Management's iShares iBonds Sep 2017 Term Muni Bond ETF position peaked at $2.72M in Q4 2015.
54 funds tracked by Wall St. Rank held iShares iBonds Sep 2017 Term Muni Bond ETF as of Q1 2016.

Based on Confluence Investment Management's 13F filing for Q1 2016, filed 4 May 2016.