Niemann Capital Management’s Invesco S&P 500 High Dividend Low Volatility ETF SPHD Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2016 Q4	–	Sell	-201,658	Closed	-$7.85M	–	33
2016 Q3	$7.85M	Sell	201,658 -169,637	-46%	-$6.6M	5.15%	8
2016 Q2	$14.2M	Sell	371,295 -144,833	-28%	-$5.54M	10.7%	4
2016 Q1	$19.2M	Buy	+516,128	New	+$19.2M	17.74%	3