SELECT SECTOR SPDR TR

Ticker: XLY CUSIP: 81369Y407 Class: SBI CONS DISCR

Cambria Investment Management, L.P.'s Holding History (CIK: 0001529389)

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

Q1 2016

Shares 5,844 Value ($000) $462 Avg Close — Range —

Q4 2015

Shares 6,313 Value ($000) $493 Avg Close — Range —

Q3 2015

Shares 4,208 Value ($000) $312 Avg Close — Range —

Q2 2015

Shares 6,313 Value ($000) $483 Avg Close — Range —

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2016	5,844	$462	—	—
Q4 2015	6,313	$493	—	—
Q3 2015	4,208	$312	—	—
Q2 2015	6,313	$483	—	—