POWERSHARES QQQ TRUST

CUSIP: 73935A104 Class: COM

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

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

Q3 2016
Shares 95,000 Value ($000) $11,278 Avg Close — Range —
Q4 2015
Shares 180,000 Value ($000) $20,135 Avg Close — Range —
Q3 2015
Shares 355,000 Value ($000) $36,125 Avg Close — Range —
Q1 2014
Shares 285,000 Value ($000) $24,986 Avg Close — Range —