Instuitional Investor - Cornerstone Advisors, Inc.

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	Ishares Trust	IEF	978,633	$328,879,000	35.15%
2.	Vanguard Index Fds		1,034,032	$161,764,000	17.28%
3.	Vanguard Tax-Managed Intl Fd		3,156,021	$129,081,000	13.79%
4.	Ishares Trust	IEF	277,651	$51,452,000	5.49%
5.	Ishares Trust	IEF	699,521	$49,127,000	5.25%