POWERSHARES ETF TRUST II

CUSIP: 73936Q769 Class: EXCHANGE TRADED

LEUTHOLD GROUP, LLC's Holding History (CIK: 0001170152)

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

Q1 2017
Shares 576,265 Value ($000) $13,404 Avg Close — Range —
Q4 2016
Shares 575,363 Value ($000) $13,440 Avg Close — Range —
Q3 2016
Shares 610,255 Value ($000) $14,164 Avg Close — Range —
Q1 2014
Shares 273,520 Value ($000) $6,786 Avg Close — Range —
Q4 2013
Shares 272,925 Value ($000) $6,790 Avg Close — Range —
Q3 2013
Shares 274,450 Value ($000) $6,773 Avg Close — Range —
Q2 2013
Shares 284,026 Value ($000) $7,030 Avg Close — Range —