Cumberland Advisors’s State Street SPDR S&P Oil & Gas Exploration & Production ETF XOP Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2019 Q4	–	Sell	-217,946	Closed	-$19.5M	–	80
2019 Q3	$19.5M	Buy	217,946 +46,467	+27%	+$4.38M	5.51%	5
2019 Q2	$18.7M	Buy	171,479 +650	+0.4%	+$75K	6.31%	4
2019 Q1	$21M	Buy	170,829 +77,940	+84%	+$9.38M	7.28%	3
2018 Q4	$9.86M	Buy	92,889 +47,469	+105%	+$6.63M	3.53%	10
2018 Q3	$7.87M	Buy	+45,420	New	+$7.64M	5.26%	4
2018 Q2	–	Sell	-40,914	Closed	-$5.76M	–	47
2018 Q1	$5.76M	Buy	40,914 +551	+1%	+$78.9K	3.53%	9
2017 Q4	$6M	Buy	40,363 +1,760	+5%	+$245K	3.32%	10
2017 Q3	$5.26M	Sell	38,603 -2,147	-5%	-$269K	3.22%	11
2017 Q2	$5.2M	Buy	40,750 +2,710	+7%	+$371K	3.06%	12
2017 Q1	$5.7M	Buy	38,040 +7,705	+25%	+$1.2M	3.57%	10
2016 Q4	$5.03M	Buy	30,335 +315	+1%	+$49.4K	3.58%	8
2016 Q3	$4.62M	Buy	+30,020	New	+$4.31M	2.57%	15