Instuitional Investor - Watermark Asset Management, Inc.

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	Ishares Trust	IEF	162,501	$47,569,000	19.67%
2.	Ishares Trust	IEF	336,284	$35,485,000	14.67%
3.	Vanguard Ftse Developed Markets Etf		475,244	$20,564,000	8.5%
4.	Ishares Trust	IEF	75,760	$15,250,000	6.3%
5.	Schwab Strategic Trust	FNDF	193,785	$13,641,000	5.64%