Independent Portfolio Consultants’s iShares MSCI EAFE Min Vol Factor ETF EFAV Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2016 Q4	–	Sell	-7,985	Closed	-$540K	–	826
2016 Q3	$540K	Sell	7,985 -5,590	-41%	-$378K	0.17%	216
2016 Q2	$901K	Sell	13,575 -725	-5%	-$48.1K	0.28%	105
2016 Q1	$950K	Buy	+14,300	New	+$950K	0.27%	115