DIREXION SHS ETF TR

Ticker: TNA CUSIP: 25459W847 Class: Inverse Market Hedge Fund

Guild Investment Management, Inc.'s Holding History (CIK: 0001317802)

Note: Option positions (PUT/CALL) are excluded.

Q4 2014
Shares 33,850 Value ($000) $2,739 Avg Close — Range —
Q4 2013
Shares 26,300 Value ($000) $2,036 Avg Close — Range —
Q2 2013
Shares 12,000 Value ($000) $565 Avg Close — Range —