ISHARES INC

Ticker: EWZ CUSIP: 464286400 Class: MSCI BRAZIL ETF

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

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

Q4 2018

Shares 81,060 Value ($000) $3,096 Avg Close — Range —

Q2 2016

Shares 156,030 Value ($000) $4,708 Avg Close — Range —

Q1 2016

Shares 201,340 Value ($000) $5,295 Avg Close — Range —

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2018	81,060	$3,096	—	—
Q2 2016	156,030	$4,708	—	—
Q1 2016	201,340	$5,295	—	—