ISHARES TR

Ticker: MUB CUSIP: 464288414 Class: NATIONAL MUN ETF

Bellecapital International Ltd.'s Holding History (CIK: 0001600152)

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

Q2 2014

Shares 2,240 Value ($000) $243 Avg Close — Range —

Q1 2014

Shares 2,440 Value ($000) $261 Avg Close — Range —

Q4 2013

Shares 2,240 Value ($000) $232 Avg Close — Range —

Period	Shares	Value ($000)	Average Close	Price Range
Q2 2014	2,240	$243	—	—
Q1 2014	2,440	$261	—	—
Q4 2013	2,240	$232	—	—