Tourbillon Capital Partners’s State Street SPDR S&P 500 ETF Trust SPY Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2018 Q4	–	Sell	-500,000	Closed	-$145M	–	23
2018 Q3	$145M	Sell	500,000 -700,000	-58%	-$199M	15.64%	1
2018 Q2	$326M	Sell	1,200,000 -300,000	-20%	-$81M	12.59%	1
2018 Q1	$395M	Hold	1,500,000	–	–	15.66%	1
2017 Q4	$400M	Sell	1,500,000 -1,500,000	-50%	-$390M	14.81%	1
2017 Q3	$754M	Buy	3,000,000 +500,000	+20%	+$123M	18.26%	1
2017 Q2	$605M	Buy	2,500,000 +1,500,000	+150%	+$359M	11.63%	1
2017 Q1	$236M	Sell	1,000,000 -2,250,000	-69%	-$523M	6.07%	3
2016 Q4	$726M	Buy	3,250,000 +1,500,000	+86%	+$328M	13.97%	1
2016 Q3	$379M	Sell	1,750,000 -2,250,000	-56%	-$486M	7.72%	1
2016 Q2	$838M	Buy	4,000,000 +2,500,000	+167%	+$519M	16.75%	1
2016 Q1	$308M	Buy	1,500,000 +500,000	+50%	+$97.6M	6.63%	1
2015 Q4	$204M	Buy	1,000,000 +400,000	+67%	+$82.1M	4.56%	5
2015 Q3	$115M	Buy	+600,000	New	+$122M	3.01%	7
2015 Q2	–	Sell	-1,250,000	Closed	-$258M	–	122
2015 Q1	$258M	Sell	1,250,000 -100,000	-7%	-$20.6M	6.65%	2
2014 Q4	$277M	Sell	1,350,000 -50,000	-4%	-$10.1M	7.49%	1
2014 Q3	$276M	Buy	1,400,000 +650,000	+87%	+$128M	10.06%	1
2014 Q2	$147M	Sell	750,000 -1,900,000	-72%	-$361M	8.48%	1
2014 Q1	$496M	Buy	2,650,000 +2,150,000	+430%	+$395M	23.21%	1
2013 Q4	$92.3M	Buy	+500,000	New	+$88.5M	7.9%	2