POWERSHARES ETF TR II

CUSIP: 73936T573 Class: EXCHANGE TRADED

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

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

Q4 2014
Shares 163,394 Value ($000) $4,601 Avg Close — Range —
Q2 2013
Shares 9,784 Value ($000) $267 Avg Close — Range —