VANGUARD SPECIALIZED FUNDS

Ticker: VIG CUSIP: 921908844 Class: DIV APP ETF

Guild Investment Management, Inc.'s Holding History (CIK: 0001317802)

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

Q4 2014
Shares 160,558 Value ($000) $13,031 Avg Close — Range —
Q1 2012
Shares 74,790 Value ($000) $4,914 Avg Close — Range —