Instuitional Investor - Sand Hill Global Advisors, Llc

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	Vanguard Index Fds		486,952	$262,374,365	11.1%
2.	Spdr S & P 500 Etf Trust	SPY	372,011	$218,027,946	9.22%
3.	Ishares Trust	IEF	2,729,642	$206,388,268	8.73%
4.	Vanguard Intl Equity Index Funds	VWO	3,199,964	$140,926,423	5.96%
5.	Ishares Trust	IEF	633,928	$140,072,755	5.92%