Instuitional Investor - Bernicke Wealth Management, Ltd.

Filing Period:
No. Security Ticker Shares Value % Port
1.
Vanguard Scottsdale Funds
533,551 $50,762,000 37.47%
2.
Ishares Tr
245,713 $18,114,000 13.37%
3.
Ishares Tr
103,828 $11,982,000 8.84%
4.
Ishares Tr
85,681 $9,358,000 6.9%
5.
Ishares Tr
136,415 $5,851,000 4.31%