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Macro ETF Portfolio – Amendments

TBF USU-U CN

We are selling our 10% holding in our long interest rate bet played via the TBF.

TBF US
MM are selling TBF US in the Macro ETF Portfolio taking a small profit around $US16.56
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ProShares Short 20+ year US Treasury ETF (TBF US)

We are adding to out current holding in the Sprott Physical Uranium Trust listed in Canada. We are bullish Uranium.

U-U CN
MM are adding to U-U CN in the Marco ETF Portfolio, allocating another 5% around $CAD14.87
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Sprott Physical Uranium Trust (U-U CN)
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