Howland Capital Management’s ProShares Trust UltraShort Lehman 20+ Year Treasury TBT Stock Holding History

Howland Capital Management’s Portfolio TBT Stock Details TBT Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2015 Q1	–	Sell	-21,670	Closed	-$1M	–	201
2014 Q4	$1M	Sell	21,670 -1,600	-7%	-$81.6K	0.1%	112
2014 Q3	$1.31M	Buy	23,270 +10,680	+85%	+$622K	0.13%	98
2014 Q2	$764K	Sell	12,590 -1,350	-10%	-$86K	0.08%	114
2014 Q1	$942K	Buy	13,940 +2,280	+20%	+$163K	0.11%	106
2013 Q4	$923K	Buy	11,660 +3,950	+51%	+$302K	0.11%	105
2013 Q3	$580K	Buy	7,710 +4,010	+108%	+$309K	0.08%	120
2013 Q2	$268K	Buy	+3,700	New	+$241K	0.04%	119

Other funds holding TBT

NSLI

Nan Shan Life Insurance Taipei City, Taiwan $2.76B AUM 6.75% 1-Year Est. Return

Credit Suisse Zurich, Switzerland $104B AUM 34.76% 1-Year Est. Return

IWC

Integrated Wealth Counsel Carmel, California $46.5M AUM 7.34% 1-Year Est. Return

JP Morgan Chase New York $1.56T AUM 27.86% 1-Year Est. Return

Goldman Sachs New York $871B AUM 31.28% 1-Year Est. Return

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

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

PAM

PVG Asset Management Golden, Colorado $173M AUM 64.51% 1-Year Est. Return

TAM

Trust Asset Management Houston, Texas $1.61B AUM 29.06% 1-Year Est. Return

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

Howland Capital Management's TBT Position: Q1 2015 in Review

Howland Capital Management sold out of ProShares Trust UltraShort Lehman 20+ Year Treasury (TBT) in Q1 2015, closing a stake of 21,670 shares — an estimated $1M sold.

Howland Capital Management first reported a position in TBT in Q2 2013 and held it in 7 quarters. The position peaked at $1.31M in Q3 2014. 150 funds tracked by Wall St. Rank hold TBT as of Q1 2015.

Howland Capital Management reported no remaining ProShares Trust UltraShort Lehman 20+ Year Treasury position as of Q1 2015 after selling out during the quarter.
Howland Capital Management sold 21,670 ProShares Trust UltraShort Lehman 20+ Year Treasury shares in Q1 2015, an estimated $1M.
Howland Capital Management first reported a position in ProShares Trust UltraShort Lehman 20+ Year Treasury in Q2 2013 and held it in 7 quarters.
Howland Capital Management's ProShares Trust UltraShort Lehman 20+ Year Treasury position peaked at $1.31M in Q3 2014.
150 funds tracked by Wall St. Rank held ProShares Trust UltraShort Lehman 20+ Year Treasury as of Q1 2015.

Based on Howland Capital Management's 13F filing for Q1 2015, filed 11 May 2015.