Salem Investment Counselors’s VanEck Brazil Small-Cap ETF BRF Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2017 Q1	–	Sell	-315	Closed	-$5K	–	554
2016 Q4	$5K	Buy	+315	New	+$5K	﹤0.01%	535
2013 Q4	–	Sell	-5,995	Closed	-$200K	–	272
2013 Q3	$200K	Sell	5,995 -10,910	-65%	-$364K	0.03%	264
2013 Q2	$538K	Buy	+16,905	New	+$538K	0.08%	173