Instuitional Investor - Newfound Research Llc

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	Ishares Trust	IEF	75,249	$6,111,000	14.96%
2.	Vanguard Wellington Fd		25,961	$2,746,000	6.72%
3.	Ishares Tr		20,468	$2,685,000	6.57%
4.	J P Morgan Exchange-Traded F		76,222	$2,681,000	6.56%
5.	Fidelity Covington Trust		64,783	$2,664,000	6.52%