Spruce Investment Advisors’s iShares MSCI USA Momentum Factor ETF MTUM Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2017 Q4	$2.37M	Sell	23,018 -3,043	-12%	-$314K	4.89%	7
2017 Q3	$2.49M	Sell	26,061 -1,240	-5%	-$119K	4.81%	6
2017 Q2	$2.43M	Sell	27,301 -3,145	-10%	-$280K	4.29%	5
2017 Q1	$2.52M	Buy	+30,446	New	+$2.52M	2.9%	13