ISHARES TR

Ticker: IHF CUSIP: 464288828 Class: US HLTHCR PR ETF

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

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

Q1 2015

Shares 21,000 Value ($000) $2,794 Avg Close — Range —

Q4 2014

Shares 21,000 Value ($000) $2,486 Avg Close — Range —

Q3 2014

Shares 21,000 Value ($000) $2,244 Avg Close — Range —

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2015	21,000	$2,794	—	—
Q4 2014	21,000	$2,486	—	—
Q3 2014	21,000	$2,244	—	—