ISHARES TR

Ticker: VLUE CUSIP: 46432F388 Class: ETF-EQUITY

Permanens Capital L.P.'s Holding History (CIK: 0001599637)

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

Q4 2017
Shares 410,662 Value ($000) $34,340 Avg Close — Range —
Q3 2017
Shares 487,483 Value ($000) $37,692 Avg Close — Range —
Q2 2017
Shares 519,870 Value ($000) $38,247 Avg Close — Range —
Q1 2017
Shares 513,760 Value ($000) $37,566 Avg Close — Range —
Q4 2016
Shares 393,265 Value ($000) $27,603 Avg Close — Range —