ISHARES TR

Ticker: IEZ CUSIP: 464288844 Class: US OIL EQ&SV ETF

CONFLUENCE INVESTMENT MANAGEMENT LLC's Holding History (CIK: 0001442056)

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

Q4 2014

Shares 17,344 Value ($000) $867 Avg Close — Range —

Q3 2014

Shares 45,291 Value ($000) $3,005 Avg Close — Range —

Q2 2014

Shares 45,106 Value ($000) $3,497 Avg Close — Range —

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2014	17,344	$867	—	—
Q3 2014	45,291	$3,005	—	—
Q2 2014	45,106	$3,497	—	—