Instuitional Investor - Milliman Financial Risk Management Llc

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	Ishares Tr		18,183,727	$2,000,209,000	31.23%
2.	Ishares Trust	IEF	12,060,440	$1,161,902,000	18.14%
3.	Vanguard Bond Index Funds	BND	14,164,976	$1,010,387,000	15.77%
4.	Vanguard Index Fds		5,481,942	$983,844,000	15.36%
5.	Vanguard Tax Managed Intl Fd		14,587,039	$530,384,000	8.28%