Sage Advisory Services’s iShares CMBS ETF CMBS Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2016 Q4	–	Sell	-443,196	Closed	-$23.5M	–	26
2016 Q3	$23.5M	Sell	443,196 -4,530	-1%	-$240K	2.96%	9
2016 Q2	$23.8M	Buy	447,726 +229,601	+105%	+$12.2M	3.14%	10
2016 Q1	$11.3M	Buy	+218,125	New	+$11.3M	1.48%	14