Narwhal Capital Management’s iShares MSCI Russia ETF ERUS Stock Holding History

Narwhal Capital Management’s Portfolio ERUS Stock Details ERUS Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2015 Q4	–	Sell	-13,225	Closed	-$321K	–	138
2015 Q3	$321K	Sell	13,225 -11,500	-47%	-$292K	0.12%	119
2015 Q2	$698K	Sell	24,725 -11,000	-31%	-$326K	0.25%	100
2015 Q1	$930K	Buy	+35,725	New	+$896K	0.34%	88
2014 Q4	–	Sell	-20,825	Closed	-$719K	–	144
2014 Q3	$719K	Buy	20,825 +15,600	+299%	+$592K	0.29%	99
2014 Q2	$211K	Buy	+5,225	New	+$198K	0.08%	139

Other funds holding ERUS

NCA

New Century Advisors Chevy Chase, Maryland $82.1M AUM 3.88% 1-Year Est. Return

Citigroup New York $235B AUM 32.99% 1-Year Est. Return

Glovista Investments Jersey City, New Jersey $215M AUM 10.51% 1-Year Est. Return

Prudential Financial Newark, New Jersey $81.2B AUM 27.81% 1-Year Est. Return

Credit Agricole Montrouge Cedex, France $38.1B AUM

BFA

BlackRock Fund Advisors San Francisco, California $542B AUM 18.13% 1-Year Est. Return

State of New Jersey Common Pension Fund D Trenton, New Jersey $25.9B AUM 26.38% 1-Year Est. Return

BCI

Brinker Capital Investments Berwyn, Pennsylvania $11.7B AUM 21.33% 1-Year Est. Return

BIT

BlackRock Institutional Trust San Francisco, California $675B AUM 16.07% 1-Year Est. Return

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

Narwhal Capital Management's ERUS Position: Q4 2015 in Review

Narwhal Capital Management sold out of iShares MSCI Russia ETF (ERUS) in Q4 2015, closing a stake of 13,225 shares — an estimated $321K sold.

Narwhal Capital Management first reported a position in ERUS in Q2 2014 and held it in 5 quarters. The position peaked at $930K in Q1 2015. 53 funds tracked by Wall St. Rank hold ERUS as of Q4 2015.

Narwhal Capital Management reported no remaining iShares MSCI Russia ETF position as of Q4 2015 after selling out during the quarter.
Narwhal Capital Management sold 13,225 iShares MSCI Russia ETF shares in Q4 2015, an estimated $321K.
Narwhal Capital Management first reported a position in iShares MSCI Russia ETF in Q2 2014 and held it in 5 quarters.
Narwhal Capital Management's iShares MSCI Russia ETF position peaked at $930K in Q1 2015.
53 funds tracked by Wall St. Rank held iShares MSCI Russia ETF as of Q4 2015.

Based on Narwhal Capital Management's 13F filing for Q4 2015, filed 15 Jan 2016.