ISHARES TR

Ticker: HYG CUSIP: 464288513 Class: IBOXX HI YD ETF

SANDLER CAPITAL MANAGEMENT's Holding History (CIK: 0001000742)

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

Q3 2016

Shares 9,060 Value ($000) $791 Avg Close — Range —

Q2 2016

Shares 5,760 Value ($000) $488 Avg Close — Range —

Q1 2016

Shares 4,075 Value ($000) $333 Avg Close — Range —

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2016	9,060	$791	—	—
Q2 2016	5,760	$488	—	—
Q1 2016	4,075	$333	—	—