Silver Capital Management’s iShares MSCI USA Min Vol Factor ETF USMV Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2017 Q2	–	Sell	-11,610	Closed	-$555K	–	49
2017 Q1	$555K	Buy	11,610 +1,820	+19%	+$87K	2.22%	22
2016 Q4	$443K	Sell	9,790 -150	-2%	-$6.79K	2.03%	25
2016 Q3	$451K	Buy	+9,940	New	+$451K	1.89%	25