Confluence Investment Management’s iShares iBonds Sep 2018 Term Muni Bond ETF IBMG Stock Holding History

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

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2016 Q1	–	Sell	-107,201	Closed	-$2.74M	–	253
2015 Q4	$2.74M	Buy	107,201 +12,078	+13%	+$308K	0.09%	148
2015 Q3	$2.44M	Sell	95,123 -270	-0.3%	-$6.9K	0.09%	155
2015 Q2	$2.44M	Buy	95,393 +13,155	+16%	+$335K	0.09%	156
2015 Q1	$2.1M	Buy	82,238 +11,822	+17%	+$303K	0.08%	162
2014 Q4	$1.8M	Buy	70,416 +8,756	+14%	+$224K	0.07%	158
2014 Q3	$1.58M	Buy	61,660 +4,492	+8%	+$115K	0.07%	175
2014 Q2	$1.46M	Buy	57,168 +8,723	+18%	+$222K	0.07%	179
2014 Q1	$1.23M	Buy	48,445 +7,196	+17%	+$183K	0.06%	187
2013 Q4	$1.04M	Buy	41,249 +19,766	+92%	+$500K	0.06%	187
2013 Q3	$540K	Buy	21,483 +3,473	+19%	+$86.6K	0.03%	198
2013 Q2	$448K	Buy	+18,010	New	+$457K	0.03%	206

Other funds holding IBMG

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

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

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

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

VCM

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

UCFA

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

Envestnet Asset Management Chicago, Illinois $374B AUM 17.66% 1-Year Est. Return

LNC

Lincoln National Corp Radnor, Pennsylvania $3.45B AUM 12.55% 1-Year Est. Return

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

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

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

Confluence Investment Management sold out of iShares iBonds Sep 2018 Term Muni Bond ETF (IBMG) in Q1 2016, closing a stake of 107,201 shares — an estimated $2.74M sold.

Confluence Investment Management first reported a position in IBMG in Q2 2013 and held it in 11 quarters. The position peaked at $2.74M in Q4 2015. 46 funds tracked by Wall St. Rank hold IBMG as of Q1 2016.

Confluence Investment Management reported no remaining iShares iBonds Sep 2018 Term Muni Bond ETF position as of Q1 2016 after selling out during the quarter.
Confluence Investment Management sold 107,201 iShares iBonds Sep 2018 Term Muni Bond ETF shares in Q1 2016, an estimated $2.74M.
Confluence Investment Management first reported a position in iShares iBonds Sep 2018 Term Muni Bond ETF in Q2 2013 and held it in 11 quarters.
Confluence Investment Management's iShares iBonds Sep 2018 Term Muni Bond ETF position peaked at $2.74M in Q4 2015.
46 funds tracked by Wall St. Rank held iShares iBonds Sep 2018 Term Muni Bond ETF as of Q1 2016.

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