HIGHLAND FDS I

CUSIP: 430101774 Class: HI LD IBOXX SRLN

Estate Counselors, LLC's Holding History (CIK: 0001559832)

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

Q4 2015
Shares 24,000 Value ($000) $433 Avg Close — Range —
Q4 2014
Shares 23,000 Value ($000) $442 Avg Close — Range —