Gruber & McBaine Capital Management’s United States Brent Oil Fund BNO Stock Holding History

Gruber & McBaine Capital Management’s Portfolio BNO Stock Details BNO Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2014 Q4	–	Sell	-10,000	Closed	-$378K	–	191
2014 Q3	$378K	Sell	10,000 -16,500	-62%	-$686K	0.11%	163
2014 Q2	$1.2M	Hold	26,500	–	–	0.32%	112
2014 Q1	$1.14M	Hold	26,500	–	–	0.3%	113
2013 Q4	$1.18M	Sell	26,500 -53,500	-67%	-$2.3M	0.31%	95
2013 Q3	$3.4M	Buy	+80,000	New	+$3.37M	1.02%	25

Other funds holding BNO

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

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

NPC

National Planning Corporation El Segundo, California $726K AUM 14.28% 1-Year Est. Return

Group One Trading Chicago, Illinois $52.2B AUM 104.56% 1-Year Est. Return

AIG

American International Group New York $609M AUM 23.67% 1-Year Est. Return

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

MAS

Madden Advisory Services Jacksonville, Florida $254M AUM 15.17% 1-Year Est. Return

PNC Financial Services Group Pittsburgh, Pennsylvania $173B AUM 20.72% 1-Year Est. Return

FNBT

FineMark National Bank & Trust Fort Myers, Florida $3.2B AUM 18.28% 1-Year Est. Return

Gruber & McBaine Capital Management's BNO Position: Q4 2014 in Review

Gruber & McBaine Capital Management sold out of United States Brent Oil Fund (BNO) in Q4 2014, closing a stake of 10,000 shares — an estimated $378K sold.

Gruber & McBaine Capital Management first reported a position in BNO in Q3 2013 and held it in 5 quarters. The position peaked at $3.4M in Q3 2013. 10 funds tracked by Wall St. Rank hold BNO as of Q4 2014.

Gruber & McBaine Capital Management reported no remaining United States Brent Oil Fund position as of Q4 2014 after selling out during the quarter.
Gruber & McBaine Capital Management sold 10,000 United States Brent Oil Fund shares in Q4 2014, an estimated $378K.
Gruber & McBaine Capital Management first reported a position in United States Brent Oil Fund in Q3 2013 and held it in 5 quarters.
Gruber & McBaine Capital Management's United States Brent Oil Fund position peaked at $3.4M in Q3 2013.
10 funds tracked by Wall St. Rank held United States Brent Oil Fund as of Q4 2014.

Based on Gruber & McBaine Capital Management's 13F filing for Q4 2014, filed 17 Feb 2015.