Nantahala Capital Management’s iShares Biotechnology ETF IBB Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2018 Q4	–	Sell	-400,000	Closed	-$48.8M	–	101
2018 Q3	$48.8M	Buy	+400,000	New	+$47.1M	1.31%	19
2018 Q2	–	Sell	-100,000	Closed	-$10.7M	–	92
2018 Q1	$10.7M	Buy	+100,000	New	+$11.1M	0.48%	43
2015 Q1	–	Sell	-123,900	Closed	-$12.5M	–	77
2014 Q4	$12.5M	Sell	123,900 -315,000	-72%	-$30.6M	1.76%	14
2014 Q3	$40M	Sell	438,900 -29,400	-6%	-$2.58M	4.91%	3
2014 Q2	$40.1M	Sell	468,300 -44,700	-9%	-$3.52M	5.9%	2
2014 Q1	$40.4M	Buy	513,000 +153,000	+43%	+$12.7M	6.49%	2
2013 Q4	$27.2M	Buy	360,000 +240,000	+200%	+$17M	4.42%	4
2013 Q3	$8.38M	Buy	+120,000	New	+$7.86M	1.88%	20