Relational Investors’s State Street SPDR S&P 500 ETF Trust SPY Stock Holding History

Relational Investors’s Portfolio SPY Stock Details SPY Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2015 Q4	–	Sell	-69,400	Closed	-$13.3M	–	6
2015 Q3	$13.3M	Buy	69,400 +39,800	+134%	+$8.07M	1.58%	6
2015 Q2	$6.09M	Sell	29,600 -3,200	-10%	-$673K	0.38%	8
2015 Q1	$6.77M	Sell	32,800 -64,400	-66%	-$13.3M	0.29%	11
2014 Q4	$20M	Buy	97,200 +62,700	+182%	+$12.6M	0.72%	11
2014 Q3	$6.8M	Sell	34,500 -270,702	-89%	-$53.5M	0.17%	12
2014 Q2	$59.7M	Sell	305,202 -750,800	-71%	-$143M	0.91%	17
2014 Q1	$198M	Sell	1,056,002 -990,000	-48%	-$182M	3.16%	13
2013 Q4	$378M	Buy	2,046,002 +802,000	+64%	+$142M	6.46%	8
2013 Q3	$209M	Sell	1,244,002 -576,600	-32%	-$96.6M	3.5%	11
2013 Q2	$291M	Buy	+1,820,602	New	+$293M	5.19%	9

Other funds holding SPY

JP Morgan Chase New York $1.81T AUM 41.13% 1-Year Est. Return

Goldman Sachs New York $1.15T AUM 47.82% 1-Year Est. Return

Morgan Stanley New York $1.89T AUM 35.08% 1-Year Est. Return

UBS Group Zurich, Switzerland $786B AUM 40.34% 1-Year Est. Return

Susquehanna International Group Bala Cynwyd, Pennsylvania $1.28T AUM 58.89% 1-Year Est. Return

Citigroup New York $303B AUM 53.02% 1-Year Est. Return

Bank of America Charlotte, North Carolina $1.55T AUM 33.47% 1-Year Est. Return

Wells Fargo San Francisco, California $617B AUM 30.33% 1-Year Est. Return

Nomura Holdings Tokyo, Japan $85.4B AUM 91.09% 1-Year Est. Return

Bridgewater Associates Westport, Connecticut $24.4B AUM 40.93% 1-Year Est. Return

Relational Investors's SPY Position: Q4 2015 in Review

Relational Investors sold out of State Street SPDR S&P 500 ETF Trust (SPY) in Q4 2015, closing a stake of 69,400 shares — an estimated $13.3M sold.

Relational Investors first reported a position in SPY in Q2 2013 and held it in 10 quarters. The position peaked at $378M in Q4 2013. 1,547 funds tracked by Wall St. Rank hold SPY as of Q4 2015.

Relational Investors reported no remaining State Street SPDR S&P 500 ETF Trust position as of Q4 2015 after selling out during the quarter.
Relational Investors sold 69,400 State Street SPDR S&P 500 ETF Trust shares in Q4 2015, an estimated $13.3M.
Relational Investors first reported a position in State Street SPDR S&P 500 ETF Trust in Q2 2013 and held it in 10 quarters.
Relational Investors's State Street SPDR S&P 500 ETF Trust position peaked at $378M in Q4 2013.
1,547 funds tracked by Wall St. Rank held State Street SPDR S&P 500 ETF Trust as of Q4 2015.

Based on Relational Investors's 13F filing for Q4 2015.