Sandler Capital Management’s SPDR S&P Metals & Mining ETF XME Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2014 Q1	–	Sell	-650,000	Closed	-$27.4M	–	202
2013 Q4	$27.4M	Buy	+650,000	New	+$27.4M	0.89%	24