Instuitional Investor - Portland Global Advisors Llc

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	Spdr S & P 500 Etf Trust	SPY	140,038	$66,561,424	9.97%
2.	Spdr S & P Midcap 400 Etf Trust	MDY	78,923	$40,043,837	6%
3.	Ishares Trust	IEF	134,882	$37,382,546	5.6%
4.	Ishares Trust	IEF	57,426	$27,428,499	4.1%
5.	Vanguard Scottsdale Funds		439,186	$26,052,514	3.9%