Emery Howard Portfolio Management, Inc. Activity Q4 2007-Q4 2021

Q4 2021

			Value		Shares		↓ Weighting
SPY	Sell	SPDR S&P 500 ETFetf	$199,096,000	+10.1%	419,185	-0.6%	25.74%	-2.8%
VEA	Buy	VANGUARD FTSE DEVELOPED MARKETS ETFetf	$106,600,000	+12.2%	2,087,742	+10.9%	13.78%	-1.0%
VOO	Buy	VANGUARD S&P 500 ETFetf	$86,947,000	+44.0%	199,160	+30.0%	11.24%	+27.1%
VO	Buy	VANGUARD MID CAPetf	$62,528,000	+12.8%	245,430	+4.8%	8.08%	-0.4%
IVV	Sell	ISHARES S&P 500 INDEXetf	$51,568,000	+10.2%	108,112	-0.4%	6.67%	-2.7%
VWO	Buy	VANGUARD FTSE EMERGING MARKETS ETFetf	$36,333,000	+19.0%	734,601	+20.3%	4.70%	+5.1%
VB	Buy	VANGUARD SMALL CAP ETFetf	$33,640,000	+29.2%	148,845	+25.0%	4.35%	+14.1%
SCHF	Buy	SCHWAB INTERNATIONAL EQUITY ETFetf	$25,849,000	+1.5%	665,003	+1.0%	3.34%	-10.4%
SCHE	Buy	SCHWAB EMERGING MARKET EQ ETFetf	$25,081,000	-1.3%	846,767	+1.6%	3.24%	-12.8%
QQQ	Sell	POWERSHARES QQQ TRetf	$22,743,000	+9.6%	57,166	-1.4%	2.94%	-3.2%
IWM	Sell	ISHARES RUSSELL 2000 ETFetf	$20,942,000	+0.5%	94,141	-1.2%	2.71%	-11.3%
SCHM	Sell	SCHWAB US MID-CAP ETFetf	$20,115,000	+3.1%	250,096	-1.7%	2.60%	-8.9%
IWB	Buy	ISHARES TR RUSSELL 1000 INDEX ETFetf	$16,450,000	+9.9%	62,208	+0.5%	2.13%	-2.9%
SCHA	Sell	SCHWAB ETFS- US SMALL-CAP ETFetf	$13,025,000	+1.1%	127,193	-1.1%	1.68%	-10.7%
VNQ	Buy	VANGUARD REAL ESTATE INDEX ETFetf	$12,070,000	+18.7%	104,043	+4.1%	1.56%	+4.8%
EFA	Buy	ISHARES MSCI EAFE ETFetf	$9,374,000	+1.3%	119,144	+0.4%	1.21%	-10.6%
EEM	Buy	ISHARES MSCI EMERGING MARKETS ETFetf	$7,075,000	-3.0%	144,828	+0.1%	0.92%	-14.3%
VIG	Sell	VANGUARD DIVIDEND APPRECIATION ETFetf	$3,795,000	-1.4%	22,099	-11.8%	0.49%	-12.9%
VTI	Buy	VANGUARD TOTAL STK MKTetf	$2,619,000	+32.7%	10,846	+22.0%	0.34%	+17.3%
DBC	Buy	DB COMMODITY INDEX TRACKINGetf	$1,430,000	+41.7%	68,840	+37.7%	0.18%	+25.0%
PEJ	Buy	INVESCO DYNAMIC LEISURE AND ENTERTAINMENT ETFetf	$1,251,000	-2.6%	25,539	+0.1%	0.16%	-13.8%
XLK	Buy	TECHNOLOGY SELECT SECTOR SPDRetf	$1,250,000	+16.6%	7,189	+0.2%	0.16%	+3.2%
IYK	New	ISHARES U.S. CONSUMER STAPLES ETFetf	$1,141,000	–	5,700	–	0.15%	–
ESGV	Sell	VANGUARD ESG U.S. STOCK ETFetf	$934,000	+7.7%	10,629	-1.8%	0.12%	-4.7%
DIA	Sell	SPDR DOW JONES INDUSTRIAL ETFetf	$804,000	+2.4%	2,213	-4.7%	0.10%	-9.6%
RWR	Buy	SPDR DJ WILSHIRE REIT (ETF)etf	$776,000	+17.0%	6,351	+1.0%	0.10%	+3.1%
BOND	Sell	PIMCO ACTIVE BOND EXCHANGE-TRADED FUNDetf	$745,000	-5.9%	6,806	-5.0%	0.10%	-17.2%
CLOU	Buy	GLOBAL X CLOUD COMPUTING ETFetf	$705,000	-6.0%	26,594	+3.8%	0.09%	-17.3%
SPLV	Sell	POWERSHARES SP500 LOW VOLATILITY ETFetf	$684,000	+10.3%	9,970	-2.1%	0.09%	-3.3%
CMF	Buy	ISHARES CALIFORNIA MUNI BOND ETFetf	$554,000	+0.9%	8,883	+0.5%	0.07%	-10.0%
VHT	Buy	VANGUARD HEALTH CARE ETFetf	$498,000	+9.7%	1,868	+1.7%	0.06%	-3.0%
VYM	Buy	VANGUARD HIGH DIVIDEND YIELDetf	$478,000	+9.1%	4,265	+0.6%	0.06%	-3.1%
VGT	Buy	VANGUARD INFORMATION TECHNOLOGYetf	$412,000	+16.4%	899	+1.8%	0.05%	+1.9%
IBB	Buy	ISHARES NASDAQ BIOTECHNOLOGYetf	$410,000	-5.5%	2,684	+0.1%	0.05%	-17.2%
SCHX	Sell	SCHWAB STRATEGIC TR US LRG CAP ETFetf	$373,000	-45.7%	3,276	-50.4%	0.05%	-52.5%
IJH	Buy	ISHARES CORE S&P MID CAP ETFetf	$330,000	+7.8%	1,166	+0.1%	0.04%	-4.4%
INDA	New	ISHARES TR MSCI INDIA INDEX FDetf	$320,000	–	6,991	–	0.04%	–
VBR	Buy	VANGUARD SMALL-CAP VALUE INDEX FUNDetf	$281,000	+6.0%	1,573	+0.6%	0.04%	-7.7%
VGK	Buy	VANGUARD EUROPEANetf	$259,000	+5.3%	3,789	+1.0%	0.03%	-8.3%
HDV	Buy	ISHARES TR HIGH DIVID EQUITY FDetf	$257,000	+15.2%	2,543	+7.4%	0.03%	0.0%
VUG	Buy	VANGUARD GROWTH ETFetf	$244,000	+10.4%	761	+0.1%	0.03%	0.0%
GLD	Buy	SPDR GOLD ETFetf	$229,000	+4.6%	1,342	+0.8%	0.03%	-6.2%
VCSH	Buy	VANGUARD SHORT TERM CORP BOND FD ETFetf	$218,000	+4.3%	2,684	+5.6%	0.03%	-9.7%
MDY	Exit	SPDR S&P MIDCAP 400 ETFetf	$0	–	-466	–	-0.03%	–

Q3 2021

			Value		Shares		↓ Weighting
SPY	Buy	SPDR S&P 500 ETFetf	$180,910,000	+0.3%	421,564	+0.0%	26.49%	-0.2%
VEA	Buy	VANGUARD FTSE DEVELOPED MARKETS ETFetf	$95,042,000	+0.1%	1,882,386	+2.1%	13.92%	-0.5%
VOO	Buy	VANGUARD S&P 500 ETFetf	$60,399,000	+10.5%	153,142	+10.3%	8.84%	+9.9%
VO	Buy	VANGUARD MID CAPetf	$55,440,000	+2.9%	234,162	+3.2%	8.12%	+2.4%
IVV	Sell	ISHARES S&P 500 INDEXetf	$46,776,000	-0.2%	108,573	-0.4%	6.85%	-0.7%
VWO	Buy	VANGUARD FTSE EMERGING MARKETS ETFetf	$30,531,000	-4.5%	610,501	+3.7%	4.47%	-5.0%
VB	Buy	VANGUARD SMALL CAP ETFetf	$26,037,000	+11.0%	119,069	+14.3%	3.81%	+10.4%
SCHF	Sell	SCHWAB INTERNATIONAL EQUITY ETFetf	$25,479,000	-4.5%	658,363	-2.7%	3.73%	-5.0%
SCHE	Sell	SCHWAB EMERGING MARKET EQ ETFetf	$25,405,000	-8.1%	833,483	-0.9%	3.72%	-8.6%
IWM	Buy	ISHARES RUSSELL 2000 ETFetf	$20,839,000	-3.4%	95,263	+1.3%	3.05%	-3.9%
QQQ	Buy	POWERSHARES QQQ TRetf	$20,746,000	+1.8%	57,955	+0.8%	3.04%	+1.3%
SCHM	Sell	SCHWAB US MID-CAP ETFetf	$19,502,000	-3.7%	254,395	-1.7%	2.86%	-4.2%
IWB	Buy	ISHARES TR RUSSELL 1000 INDEX ETFetf	$14,964,000	+4.7%	61,910	+4.8%	2.19%	+4.1%
SCHA	Sell	SCHWAB ETFS- US SMALL-CAP ETFetf	$12,879,000	-6.9%	128,657	-3.1%	1.89%	-7.4%
VNQ	Sell	VANGUARD REAL ESTATE INDEX ETFetf	$10,169,000	-1.3%	99,913	-1.3%	1.49%	-1.8%
VIG	Sell	VANGUARD DIVIDEND APPRECIATION ETFetf	$3,849,000	-2.9%	25,056	-2.2%	0.56%	-3.4%
VTI	Buy	VANGUARD TOTAL STK MKTetf	$1,974,000	-0.3%	8,890	+0.1%	0.29%	-0.7%
PEJ	Buy	INVESCO DYNAMIC LEISURE AND ENTERTAINMENT ETFetf	$1,284,000	-3.7%	25,508	+0.0%	0.19%	-4.1%
XLK	Buy	TECHNOLOGY SELECT SECTOR SPDRetf	$1,072,000	+7.2%	7,177	+6.0%	0.16%	+6.8%
ESGV	Buy	VANGUARD ESG U.S. STOCK ETFetf	$867,000	+0.5%	10,825	+0.3%	0.13%	0.0%
BOND	Buy	PIMCO ACTIVE BOND EXCHANGE-TRADED FUNDetf	$792,000	+0.3%	7,163	+0.6%	0.12%	0.0%
DIA	Buy	SPDR DOW JONES INDUSTRIAL ETFetf	$785,000	-1.8%	2,321	+0.3%	0.12%	-2.5%
CLOU	Buy	GLOBAL X CLOUD COMPUTING ETFetf	$750,000	+28.0%	25,625	+24.8%	0.11%	+27.9%
SCHX	Buy	SCHWAB STRATEGIC TR US LRG CAP ETFetf	$687,000	+0.4%	6,604	+0.3%	0.10%	0.0%
RWR	Buy	SPDR DJ WILSHIRE REIT (ETF)etf	$663,000	+1.2%	6,290	+0.7%	0.10%	+1.0%
CMF	Buy	ISHARES CALIFORNIA MUNI BOND ETFetf	$549,000	-0.4%	8,837	+0.4%	0.08%	-1.2%
ARKK	Buy	ARK INNOVATION ETFetf	$480,000	-6.2%	4,347	+10.9%	0.07%	-6.7%
VHT	Buy	VANGUARD HEALTH CARE ETFetf	$454,000	+27.9%	1,837	+27.9%	0.07%	+26.9%
VYM	Sell	VANGUARD HIGH DIVIDEND YIELDetf	$438,000	-1.6%	4,240	-0.2%	0.06%	-1.5%
IBB	Buy	ISHARES NASDAQ BIOTECHNOLOGYetf	$434,000	+11.0%	2,682	+12.2%	0.06%	+10.3%
VBR	Buy	VANGUARD SMALL-CAP VALUE INDEX FUNDetf	$265,000	-1.9%	1,563	+0.4%	0.04%	-2.5%
VGK	Buy	VANGUARD EUROPEANetf	$246,000	-2.0%	3,752	+0.6%	0.04%	-2.7%
GLD	Sell	SPDR GOLD ETFetf	$219,000	-8.0%	1,332	-7.4%	0.03%	-8.6%
VCSH	New	VANGUARD SHORT TERM CORP BOND FD ETFetf	$209,000	–	2,542	–	0.03%	–

Q2 2021

			Value		Shares		↓ Weighting
SPY	New	SPDR S&P 500 ETFetf	$180,369,000	–	421,363	–	26.55%	–
VEA	New	VANGUARD FTSE DEVELOPED MARKETS ETFetf	$94,985,000	–	1,843,653	–	13.98%	–
VOO	New	VANGUARD S&P 500 ETFetf	$54,652,000	–	138,879	–	8.04%	–
VO	New	VANGUARD MID CAPetf	$53,870,000	–	226,964	–	7.93%	–
IVV	New	ISHARES S&P 500 INDEXetf	$46,873,000	–	109,027	–	6.90%	–
VWO	New	VANGUARD FTSE EMERGING MARKETS ETFetf	$31,966,000	–	588,583	–	4.70%	–
SCHE	New	SCHWAB EMERGING MARKET EQ ETFetf	$27,643,000	–	840,726	–	4.07%	–
SCHF	New	SCHWAB INTERNATIONAL EQUITY ETFetf	$26,688,000	–	676,499	–	3.93%	–
VB	New	VANGUARD SMALL CAP ETFetf	$23,465,000	–	104,159	–	3.45%	–
IWM	New	ISHARES RUSSELL 2000 ETFetf	$21,572,000	–	94,050	–	3.18%	–
QQQ	New	POWERSHARES QQQ TRetf	$20,377,000	–	57,493	–	3.00%	–
SCHM	New	SCHWAB US MID-CAP ETFetf	$20,253,000	–	258,762	–	2.98%	–
IWB	New	ISHARES TR RUSSELL 1000 INDEX ETFetf	$14,297,000	–	59,061	–	2.10%	–
SCHA	New	SCHWAB ETFS- US SMALL-CAP ETFetf	$13,832,000	–	132,774	–	2.04%	–
VNQ	New	VANGUARD REAL ESTATE INDEX ETFetf	$10,308,000	–	101,263	–	1.52%	–
EFA	New	ISHARES MSCI EAFE ETFetf	$9,359,000	–	118,653	–	1.38%	–
EEM	New	ISHARES MSCI EMERGING MARKETS ETFetf	$7,982,000	–	144,735	–	1.18%	–
VIG	New	VANGUARD DIVIDEND APPRECIATION ETFetf	$3,965,000	–	25,619	–	0.58%	–
VTI	New	VANGUARD TOTAL STK MKTetf	$1,980,000	–	8,885	–	0.29%	–
PEJ	New	INVESCO DYNAMIC LEISURE AND ENTERTAINMENT ETFetf	$1,333,000	–	25,503	–	0.20%	–
SOXX	New	ISHARES SEMICONDUCTOR FUNDetf	$1,158,000	–	2,550	–	0.17%	–
XLK	New	TECHNOLOGY SELECT SECTOR SPDRetf	$1,000,000	–	6,771	–	0.15%	–
DBC	New	DB COMMODITY INDEX TRACKINGetf	$963,000	–	50,000	–	0.14%	–
ESGV	New	VANGUARD ESG U.S. STOCK ETFetf	$863,000	–	10,794	–	0.13%	–
DIA	New	SPDR DOW JONES INDUSTRIAL ETFetf	$799,000	–	2,315	–	0.12%	–
BOND	New	PIMCO ACTIVE BOND EXCHANGE-TRADED FUNDetf	$790,000	–	7,119	–	0.12%	–
SCHX	New	SCHWAB STRATEGIC TR US LRG CAP ETFetf	$684,000	–	6,583	–	0.10%	–
RWR	New	SPDR DJ WILSHIRE REIT (ETF)etf	$655,000	–	6,246	–	0.10%	–
SPLV	New	POWERSHARES SP500 LOW VOLATILITY ETFetf	$621,000	–	10,188	–	0.09%	–
CLOU	New	GLOBAL X CLOUD COMPUTING ETFetf	$586,000	–	20,531	–	0.09%	–
CMF	New	ISHARES CALIFORNIA MUNI BOND ETFetf	$551,000	–	8,804	–	0.08%	–
ARKK	New	ARK INNOVATION ETFetf	$512,000	–	3,918	–	0.08%	–
RSP	New	INVESCO S&P 500 EQUAL WEIGHT ETFetf	$452,000	–	3,000	–	0.07%	–
DVY	New	ISHARES DJ SELECT DIVIDENDetf	$456,000	–	3,912	–	0.07%	–
VYM	New	VANGUARD HIGH DIVIDEND YIELDetf	$445,000	–	4,250	–	0.06%	–
IBB	New	ISHARES NASDAQ BIOTECHNOLOGYetf	$391,000	–	2,391	–	0.06%	–
VHT	New	VANGUARD HEALTH CARE ETFetf	$355,000	–	1,436	–	0.05%	–
VGT	New	VANGUARD INFORMATION TECHNOLOGYetf	$352,000	–	883	–	0.05%	–
IJH	New	ISHARES CORE S&P MID CAP ETFetf	$313,000	–	1,165	–	0.05%	–
KSTR	New	KRANESHARES SSE STAR MARKET 50 INDEX ETFetf	$275,000	–	10,000	–	0.04%	–
VBR	New	VANGUARD SMALL-CAP VALUE INDEX FUNDetf	$270,000	–	1,557	–	0.04%	–
VGK	New	VANGUARD EUROPEANetf	$251,000	–	3,730	–	0.04%	–
GLD	New	SPDR GOLD ETFetf	$238,000	–	1,439	–	0.04%	–
MDY	New	SPDR S&P MIDCAP 400 ETFetf	$229,000	–	466	–	0.03%	–
HDV	New	ISHARES TR HIGH DIVID EQUITY FDetf	$229,000	–	2,368	–	0.03%	–
VUG	New	VANGUARD GROWTH ETFetf	$218,000	–	760	–	0.03%	–

Q4 2020

			Value		Shares		↓ Weighting
IBB	Exit	ISHARES NASDAQ BIOTECHNOLOGYetf	$0	–	-1,501	–	-0.04%	–
CLOU	Exit	GLOBAL X CLOUD COMPUTING ETFetf	$0	–	-8,547	–	-0.04%	–
GLD	Exit	SPDR GOLD ETFetf	$0	–	-1,439	–	-0.05%	–
VGT	Exit	VANGUARD INFORMATION TECHNOLOGYetf	$0	–	-879	–	-0.06%	–
DVY	Exit	ISHARES DJ SELECT DIVIDENDetf	$0	–	-4,037	–	-0.07%	–
XLK	Exit	TECHNOLOGY SELECT SECTOR SPDRetf	$0	–	-3,012	–	-0.07%	–
VYM	Exit	VANGUARD HIGH DIVIDEND YIELDetf	$0	–	-4,466	–	-0.07%	–
RWR	Exit	SPDR DJ WILSHIRE REIT (ETF)etf	$0	–	-6,113	–	-0.10%	–
SCHX	Exit	SCHWAB STRATEGIC TR US LRG CAP ETFetf	$0	–	-6,624	–	-0.11%	–
CMF	Exit	ISHARES CALIFORNIA MUNI BOND ETFetf	$0	–	-8,695	–	-0.11%	–
SPLV	Exit	POWERSHARES SP500 LOW VOLATILITY ETFetf	$0	–	-10,188	–	-0.11%	–
SCHH	Exit	SCH US REIT ETFetf	$0	–	-16,297	–	-0.12%	–
BOND	Exit	PIMCO ACTIVE BOND EXCHANGE-TRADED FUNDetf	$0	–	-5,501	–	-0.12%	–
DIA	Exit	SPDR DOW JONES INDUSTRIAL ETFetf	$0	–	-2,591	–	-0.14%	–
VTI	Exit	VANGUARD TOTAL STK MKTetf	$0	–	-7,988	–	-0.27%	–
VIG	Exit	VANGUARD DIVIDEND APPRECIATION ETFetf	$0	–	-22,135	–	-0.57%	–
VB	Exit	VANGUARD SMALL CAP ETFetf	$0	–	-27,936	–	-0.86%	–
EEM	Exit	ISHARES MSCI EMERGING MARKETS ETFetf	$0	–	-144,024	–	-1.27%	–
EFA	Exit	ISHARES MSCI EAFE ETFetf	$0	–	-119,852	–	-1.52%	–
SCHA	Exit	SCHWAB ETFS- US SMALL-CAP ETFetf	$0	–	-159,731	–	-2.18%	–
IWB	Exit	ISHARES TR RUSSELL 1000 INDEX ETFetf	$0	–	-63,126	–	-2.36%	–
QQQ	Exit	POWERSHARES QQQ TRetf	$0	–	-47,152	–	-2.61%	–
IWM	Exit	ISHARES RUSSELL 2000 ETFetf	$0	–	-94,339	–	-2.82%	–
SCHM	Exit	SCHWAB US MID-CAP ETFetf	$0	–	-270,781	–	-2.99%	–
VWO	Exit	VANGUARD FTSE EMERGING MARKETS ETFetf	$0	–	-512,800	–	-4.42%	–
VNQ	Exit	VANGUARD REAL ESTATE INDEX ETFetf	$0	–	-286,786	–	-4.51%	–
SCHE	Exit	SCHWAB EMERGING MARKET EQ ETFetf	$0	–	-859,317	–	-4.58%	–
SCHF	Exit	SCHWAB INTERNATIONAL EQUITY ETFetf	$0	–	-747,383	–	-4.68%	–
VOO	Exit	VANGUARD S&P 500 ETFetf	$0	–	-91,595	–	-5.62%	–
VO	Exit	VANGUARD MID CAPetf	$0	–	-214,287	–	-7.53%	–
IVV	Exit	ISHARES S&P 500 INDEXetf	$0	–	-112,977	–	-7.57%	–
VEA	Exit	VANGUARD FTSE DEVELOPED MARKETS ETFetf	$0	–	-1,681,124	–	-13.70%	–
SPY	Exit	SPDR S&P 500 ETFetf	$0	–	-431,012	–	-28.77%	–

Q3 2020

			Value		Shares		↓ Weighting
SPY	Buy	SPDR S&P 500 ETFetf	$144,342,000	+8.8%	431,012	+0.2%	28.77%	+1.2%
VEA	Buy	VANGUARD FTSE DEVELOPED MARKETS ETFetf	$68,758,000	+7.1%	1,681,124	+1.6%	13.70%	-0.4%
IVV	Sell	ISHARES S&P 500 INDEXetf	$37,967,000	+6.1%	112,977	-2.3%	7.57%	-1.4%
VO	Buy	VANGUARD MID CAPetf	$37,770,000	+9.3%	214,287	+1.6%	7.53%	+1.6%
VOO	Buy	VANGUARD S&P 500 ETFetf	$28,179,000	+23.6%	91,595	+13.9%	5.62%	+15.0%
SCHF	Sell	SCHWAB INTERNATIONAL EQUITY ETFetf	$23,468,000	+0.8%	747,383	-4.5%	4.68%	-6.2%
SCHE	Sell	SCHWAB EMERGING MARKET EQ ETFetf	$22,995,000	+6.7%	859,317	-2.9%	4.58%	-0.8%
VNQ	Sell	VANGUARD REAL ESTATE INDEX ETFetf	$22,645,000	-9.5%	286,786	-10.0%	4.51%	-15.8%
VWO	Buy	VANGUARD FTSE EMERGING MARKETS ETFetf	$22,173,000	+12.6%	512,800	+3.2%	4.42%	+4.8%
SCHM	Sell	SCHWAB US MID-CAP ETFetf	$15,023,000	+4.7%	270,781	-0.7%	2.99%	-2.7%
IWM	Sell	ISHARES RUSSELL 2000 ETFetf	$14,131,000	+3.7%	94,339	-0.9%	2.82%	-3.6%
QQQ	Buy	POWERSHARES QQQ TRetf	$13,101,000	+14.1%	47,152	+1.6%	2.61%	+6.1%
IWB	Sell	ISHARES TR RUSSELL 1000 INDEX ETFetf	$11,814,000	+8.9%	63,126	-0.1%	2.36%	+1.3%
SCHA	Sell	SCHWAB ETFS- US SMALL-CAP ETFetf	$10,913,000	+3.5%	159,731	-1.0%	2.18%	-3.8%
EFA	Sell	ISHARES MSCI EAFE ETFetf	$7,629,000	+4.5%	119,852	-0.1%	1.52%	-2.9%
EEM	Buy	ISHARES MSCI EMERGING MARKETS ETFetf	$6,350,000	+10.5%	144,024	+0.2%	1.27%	+2.8%
VB	Buy	VANGUARD SMALL CAP ETFetf	$4,297,000	+9.1%	27,936	+3.4%	0.86%	+1.4%
VIG	Buy	VANGUARD DIVIDEND APPRECIATION ETFetf	$2,848,000	+10.1%	22,135	+0.3%	0.57%	+2.5%
VTI	Buy	VANGUARD TOTAL STK MKTetf	$1,360,000	+8.8%	7,988	+0.0%	0.27%	+1.1%
DIA	Buy	SPDR DOW JONES INDUSTRIAL ETFetf	$719,000	+8.0%	2,591	+0.4%	0.14%	0.0%
BOND	Sell	PIMCO ACTIVE BOND EXCHANGE-TRADED FUNDetf	$618,000	-0.8%	5,501	-1.5%	0.12%	-8.2%
SCHH	Sell	SCH US REIT ETFetf	$576,000	-13.3%	16,297	-13.6%	0.12%	-19.0%
CMF	Buy	ISHARES CALIFORNIA MUNI BOND ETFetf	$542,000	+0.7%	8,695	+0.4%	0.11%	-6.1%
SCHX	Sell	SCHWAB STRATEGIC TR US LRG CAP ETFetf	$534,000	+4.9%	6,624	-3.7%	0.11%	-2.8%
RWR	Buy	SPDR DJ WILSHIRE REIT (ETF)etf	$477,000	+0.8%	6,113	+0.9%	0.10%	-5.9%
VYM	Buy	VANGUARD HIGH DIVIDEND YIELDetf	$361,000	+3.4%	4,466	+0.9%	0.07%	-4.0%
XLK	Buy	TECHNOLOGY SELECT SECTOR SPDRetf	$352,000	+12.1%	3,012	+0.2%	0.07%	+4.5%
DVY	Sell	ISHARES DJ SELECT DIVIDENDetf	$329,000	-3.5%	4,037	-4.4%	0.07%	-9.6%
VGT	Buy	VANGUARD INFORMATION TECHNOLOGYetf	$274,000	+12.3%	879	+0.2%	0.06%	+5.8%
GLD	New	SPDR GOLD ETFetf	$255,000	–	1,439	–	0.05%	–
CLOU	New	GLOBAL X CLOUD COMPUTING ETFetf	$204,000	–	8,547	–	0.04%	–

Q2 2020

			Value		Shares		↓ Weighting
SPY	New	SPDR S&P 500 ETFetf	$132,633,000	–	430,122	–	28.42%	–
VEA	New	VANGUARD FTSE DEVELOPED MARKETS ETFetf	$64,195,000	–	1,654,945	–	13.76%	–
IVV	New	ISHARES S&P 500 INDEXetf	$35,798,000	–	115,593	–	7.67%	–
VO	New	VANGUARD MID CAPetf	$34,564,000	–	210,870	–	7.41%	–
VNQ	New	VANGUARD REAL ESTATE INDEX ETFetf	$25,016,000	–	318,551	–	5.36%	–
SCHF	New	SCHWAB INTERNATIONAL EQUITY ETFetf	$23,273,000	–	782,288	–	4.99%	–
VOO	New	VANGUARD S&P 500 ETFetf	$22,791,000	–	80,410	–	4.88%	–
SCHE	New	SCHWAB EMERGING MARKET EQ ETFetf	$21,552,000	–	885,090	–	4.62%	–
VWO	New	VANGUARD FTSE EMERGING MARKETS ETFetf	$19,684,000	–	496,957	–	4.22%	–
SCHM	New	SCHWAB US MID-CAP ETFetf	$14,355,000	–	272,814	–	3.08%	–
IWM	New	ISHARES RUSSELL 2000 ETFetf	$13,632,000	–	95,212	–	2.92%	–
QQQ	New	POWERSHARES QQQ TRetf	$11,486,000	–	46,388	–	2.46%	–
IWB	New	ISHARES TR RUSSELL 1000 INDEX ETFetf	$10,847,000	–	63,183	–	2.32%	–
SCHA	New	SCHWAB ETFS- US SMALL-CAP ETFetf	$10,547,000	–	161,421	–	2.26%	–
EFA	New	ISHARES MSCI EAFE ETFetf	$7,301,000	–	119,947	–	1.56%	–
EEM	New	ISHARES MSCI EMERGING MARKETS ETFetf	$5,746,000	–	143,674	–	1.23%	–
VB	New	VANGUARD SMALL CAP ETFetf	$3,937,000	–	27,019	–	0.84%	–
VIG	New	VANGUARD DIVIDEND APPRECIATION ETFetf	$2,587,000	–	22,078	–	0.55%	–
VTI	New	VANGUARD TOTAL STK MKTetf	$1,250,000	–	7,986	–	0.27%	–
DIA	New	SPDR DOW JONES INDUSTRIAL ETFetf	$666,000	–	2,581	–	0.14%	–
SCHH	New	SCH US REIT ETFetf	$664,000	–	18,853	–	0.14%	–
BOND	New	PIMCO ACTIVE BOND EXCHANGE-TRADED FUNDetf	$623,000	–	5,582	–	0.13%	–
CMF	New	ISHARES CALIFORNIA MUNI BOND ETFetf	$538,000	–	8,658	–	0.12%	–
SCHX	New	SCHWAB STRATEGIC TR US LRG CAP ETFetf	$509,000	–	6,875	–	0.11%	–
SPLV	New	POWERSHARES SP500 LOW VOLATILITY ETFetf	$506,000	–	10,188	–	0.11%	–
RWR	New	SPDR DJ WILSHIRE REIT (ETF)etf	$473,000	–	6,060	–	0.10%	–
VYM	New	VANGUARD HIGH DIVIDEND YIELDetf	$349,000	–	4,428	–	0.08%	–
DVY	New	ISHARES DJ SELECT DIVIDENDetf	$341,000	–	4,223	–	0.07%	–
XLK	New	TECHNOLOGY SELECT SECTOR SPDRetf	$314,000	–	3,006	–	0.07%	–
VGT	New	VANGUARD INFORMATION TECHNOLOGYetf	$244,000	–	877	–	0.05%	–
IBB	New	ISHARES NASDAQ BIOTECHNOLOGYetf	$205,000	–	1,501	–	0.04%	–

Q4 2019

			Value		Shares		↓ Weighting
XLK	Exit	TECHNOLOGY SELECT SECTOR SPDRetf	$0	–	-2,602	–	-0.04%	–
HDV	Exit	ISHARES TR HIGH DIVID EQUITY FDetf	$0	–	-2,306	–	-0.04%	–
VBR	Exit	VANGUARD SMALL-CAP VALUE INDEX FUNDetf	$0	–	-2,336	–	-0.06%	–
VYM	Exit	VANGUARD HIGH DIVIDEND YIELDetf	$0	–	-4,313	–	-0.08%	–
SCHX	Exit	SCHWAB STRATEGIC TR US LRG CAP ETFetf	$0	–	-6,503	–	-0.09%	–
DVY	Exit	ISHARES DJ SELECT DIVIDENDetf	$0	–	-4,799	–	-0.10%	–
CMF	Exit	ISHARES CALIFORNIA MUNI BOND ETFetf	$0	–	-8,530	–	-0.11%	–
BOND	Exit	PIMCO ACTIVE BOND EXCHANGE-TRADED FUNDetf	$0	–	-4,950	–	-0.11%	–
SPLV	Exit	POWERSHARES SP500 LOW VOLATILITY ETFetf	$0	–	-10,188	–	-0.12%	–
RWR	Exit	SPDR DJ WILSHIRE REIT (ETF)etf	$0	–	-5,889	–	-0.12%	–
DIA	Exit	SPDR DOW JONES INDUSTRIAL ETFetf	$0	–	-2,643	–	-0.14%	–
RWX	Exit	SPDR DJ WILSHIRE INTL REAL ESTetf	$0	–	-22,404	–	-0.18%	–
VTI	Exit	VANGUARD TOTAL STK MKTetf	$0	–	-6,891	–	-0.21%	–
SCHH	Exit	SCH US REIT ETFetf	$0	–	-27,167	–	-0.26%	–
VB	Exit	VANGUARD SMALL CAP ETFetf	$0	–	-14,466	–	-0.45%	–
VIG	Exit	VANGUARD DIVIDEND APPRECIATION ETFetf	$0	–	-22,041	–	-0.54%	–
EEM	Exit	ISHARES MSCI EMERGING MARKETS ETFetf	$0	–	-126,621	–	-1.05%	–
IFGL	Exit	ISHARES TR FTSE EPRA/NAREIT GLOBAL REAL ESTATE EX-USetf	$0	–	-198,983	–	-1.20%	–
QQQ	Exit	POWERSHARES QQQ TRetf	$0	–	-41,985	–	-1.61%	–
EFA	Exit	ISHARES MSCI EAFE ETFetf	$0	–	-121,753	–	-1.61%	–
IWB	Exit	ISHARES TR RUSSELL 1000 INDEX ETFetf	$0	–	-59,585	–	-1.99%	–
SCHA	Exit	SCHWAB ETFS- US SMALL-CAP ETFetf	$0	–	-178,253	–	-2.52%	–
VWO	Exit	VANGUARD FTSE EMERGING MARKETS ETFetf	$0	–	-361,631	–	-2.95%	–
SCHM	Exit	SCHWAB US MID-CAP ETFetf	$0	–	-291,343	–	-3.34%	–
IWM	Exit	ISHARES RUSSELL 2000 ETFetf	$0	–	-118,495	–	-3.64%	–
VNQI	Exit	VANGUARD GLOBAL EX-U.S. REAL ESTATE ETFetf	$0	–	-314,367	–	-3.74%	–
SCHE	Exit	SCHWAB EMERGING MARKET EQ ETFetf	$0	–	-1,160,007	–	-5.92%	–
VNQ	Exit	VANGUARD REAL ESTATE INDEX ETFetf	$0	–	-336,332	–	-6.36%	–
IVV	Exit	ISHARES S&P 500 INDEXetf	$0	–	-118,964	–	-7.21%	–
VO	Exit	VANGUARD MID CAPetf	$0	–	-213,819	–	-7.27%	–
SCHF	Exit	SCHWAB INTERNATIONAL EQUITY ETFetf	$0	–	-1,282,579	–	-8.29%	–
VEA	Exit	VANGUARD FTSE DEVELOPED MARKETS ETFetf	$0	–	-1,344,826	–	-11.21%	–
SPY	Exit	SPDR S&P 500 ETFetf	$0	–	-455,475	–	-27.43%	–

Q3 2019

			Value		Shares		↓ Weighting
SPY	Buy	SPDR S&P 500 ETFetf	$135,171,000	+1.4%	455,475	+0.1%	27.43%	+1.6%
VEA	Sell	VANGUARD FTSE DEVELOPED MARKETS ETFetf	$55,245,000	-1.9%	1,344,826	-0.4%	11.21%	-1.6%
SCHF	Buy	SCHWAB INTERNATIONAL EQUITY ETFetf	$40,863,000	+1.2%	1,282,579	+1.9%	8.29%	+1.4%
VO	Sell	VANGUARD MID CAPetf	$35,836,000	-3.5%	213,819	-3.7%	7.27%	-3.2%
IVV	Buy	ISHARES S&P 500 INDEXetf	$35,513,000	+1.6%	118,964	+0.4%	7.21%	+1.9%
VNQ	Sell	VANGUARD REAL ESTATE INDEX ETFetf	$31,363,000	+6.3%	336,332	-0.3%	6.36%	+6.6%
SCHE	Buy	SCHWAB EMERGING MARKET EQ ETFetf	$29,151,000	-2.6%	1,160,007	+1.7%	5.92%	-2.4%
VNQI	Buy	VANGUARD GLOBAL EX-U.S. REAL ESTATE ETFetf	$18,419,000	+0.7%	314,367	+1.4%	3.74%	+0.9%
IWM	Sell	ISHARES RUSSELL 2000 ETFetf	$17,933,000	-2.7%	118,495	-0.0%	3.64%	-2.4%
SCHM	Sell	SCHWAB US MID-CAP ETFetf	$16,473,000	-1.1%	291,343	-0.1%	3.34%	-0.8%
VWO	Buy	VANGUARD FTSE EMERGING MARKETS ETFetf	$14,559,000	-4.2%	361,631	+1.2%	2.95%	-4.0%
SCHA	Sell	SCHWAB ETFS- US SMALL-CAP ETFetf	$12,430,000	-2.6%	178,253	-0.2%	2.52%	-2.4%
IWB	Sell	ISHARES TR RUSSELL 1000 INDEX ETFetf	$9,804,000	-9.5%	59,585	-10.4%	1.99%	-9.3%
EFA	Buy	ISHARES MSCI EAFE ETFetf	$7,940,000	-0.2%	121,753	+0.6%	1.61%	0.0%
QQQ	Sell	POWERSHARES QQQ TRetf	$7,927,000	+0.3%	41,985	-0.8%	1.61%	+0.6%
IFGL	Sell	ISHARES TR FTSE EPRA/NAREIT GLOBAL REAL ESTATE EX-USetf	$5,904,000	-0.9%	198,983	-0.4%	1.20%	-0.6%
VIG	Buy	VANGUARD DIVIDEND APPRECIATION ETFetf	$2,636,000	+4.1%	22,041	+0.2%	0.54%	+4.3%
VB	Buy	VANGUARD SMALL CAP ETFetf	$2,226,000	-1.7%	14,466	+0.0%	0.45%	-1.3%
SCHH	Buy	SCH US REIT ETFetf	$1,281,000	+8.1%	27,167	+1.8%	0.26%	+8.3%
VTI	Buy	VANGUARD TOTAL STK MKTetf	$1,041,000	+0.7%	6,891	+0.0%	0.21%	+1.0%
DIA	Buy	SPDR DOW JONES INDUSTRIAL ETFetf	$712,000	+1.7%	2,643	+0.4%	0.14%	+1.4%
RWR	Buy	SPDR DJ WILSHIRE REIT (ETF)etf	$616,000	+6.8%	5,889	+0.8%	0.12%	+6.8%
BOND	Buy	PIMCO ACTIVE BOND EXCHANGE-TRADED FUNDetf	$539,000	+2.1%	4,950	+0.8%	0.11%	+1.9%
CMF	Buy	ISHARES CALIFORNIA MUNI BOND ETFetf	$523,000	+1.6%	8,530	+0.5%	0.11%	+1.9%
SCHX	Buy	SCHWAB STRATEGIC TR US LRG CAP ETFetf	$461,000	+1.5%	6,503	+0.4%	0.09%	+2.2%
VYM	Sell	VANGUARD HIGH DIVIDEND YIELDetf	$383,000	-1.8%	4,313	-3.3%	0.08%	-1.3%
VBR	Sell	VANGUARD SMALL-CAP VALUE INDEX FUNDetf	$301,000	-41.2%	2,336	-40.4%	0.06%	-41.3%
XLK	Sell	TECHNOLOGY SELECT SECTOR SPDRetf	$210,000	-12.9%	2,602	-15.7%	0.04%	-12.2%

Q2 2019

			Value		Shares		↓ Weighting
SPY	New	SPDR S&P 500 ETFetf	$133,348,000	–	455,114	–	26.99%	–
VEA	New	VANGUARD FTSE DEVELOPED MARKETS ETFetf	$56,303,000	–	1,349,867	–	11.40%	–
SCHF	New	SCHWAB INTERNATIONAL EQUITY ETFetf	$40,393,000	–	1,258,744	–	8.18%	–
VO	New	VANGUARD MID CAPetf	$37,129,000	–	222,119	–	7.52%	–
IVV	New	ISHARES S&P 500 INDEXetf	$34,940,000	–	118,541	–	7.07%	–
SCHE	New	SCHWAB EMERGING MARKET EQ ETFetf	$29,933,000	–	1,140,750	–	6.06%	–
VNQ	New	VANGUARD REAL ESTATE INDEX ETFetf	$29,493,000	–	337,449	–	5.97%	–
IWM	New	ISHARES RUSSELL 2000 ETFetf	$18,429,000	–	118,515	–	3.73%	–
VNQI	New	VANGUARD GLOBAL EX-U.S. REAL ESTATE ETFetf	$18,297,000	–	310,125	–	3.70%	–
SCHM	New	SCHWAB US MID-CAP ETFetf	$16,650,000	–	291,644	–	3.37%	–
VWO	New	VANGUARD FTSE EMERGING MARKETS ETFetf	$15,195,000	–	357,277	–	3.08%	–
SCHA	New	SCHWAB ETFS- US SMALL-CAP ETFetf	$12,767,000	–	178,608	–	2.58%	–
IWB	New	ISHARES TR RUSSELL 1000 INDEX ETFetf	$10,828,000	–	66,517	–	2.19%	–
EFA	New	ISHARES MSCI EAFE ETFetf	$7,958,000	–	121,078	–	1.61%	–
QQQ	New	POWERSHARES QQQ TRetf	$7,902,000	–	42,317	–	1.60%	–
IFGL	New	ISHARES TR FTSE EPRA/NAREIT GLOBAL REAL ESTATE EX-USetf	$5,955,000	–	199,768	–	1.20%	–
EEM	New	ISHARES MSCI EMERGING MARKETS ETFetf	$5,433,000	–	126,621	–	1.10%	–
VIG	New	VANGUARD DIVIDEND APPRECIATION ETFetf	$2,533,000	–	21,994	–	0.51%	–
VB	New	VANGUARD SMALL CAP ETFetf	$2,265,000	–	14,461	–	0.46%	–
SCHH	New	SCH US REIT ETFetf	$1,185,000	–	26,676	–	0.24%	–
VTI	New	VANGUARD TOTAL STK MKTetf	$1,034,000	–	6,890	–	0.21%	–
RWX	New	SPDR DJ WILSHIRE INTL REAL ESTetf	$868,000	–	22,404	–	0.18%	–
DIA	New	SPDR DOW JONES INDUSTRIAL ETFetf	$700,000	–	2,633	–	0.14%	–
RWR	New	SPDR DJ WILSHIRE REIT (ETF)etf	$577,000	–	5,840	–	0.12%	–
SPLV	New	POWERSHARES SP500 LOW VOLATILITY ETFetf	$561,000	–	10,188	–	0.11%	–
BOND	New	PIMCO ACTIVE BOND EXCHANGE-TRADED FUNDetf	$528,000	–	4,912	–	0.11%	–
VBR	New	VANGUARD SMALL-CAP VALUE INDEX FUNDetf	$512,000	–	3,922	–	0.10%	–
CMF	New	ISHARES CALIFORNIA MUNI BOND ETFetf	$515,000	–	8,488	–	0.10%	–
DVY	New	ISHARES DJ SELECT DIVIDENDetf	$478,000	–	4,799	–	0.10%	–
SCHX	New	SCHWAB STRATEGIC TR US LRG CAP ETFetf	$454,000	–	6,474	–	0.09%	–
VYM	New	VANGUARD HIGH DIVIDEND YIELDetf	$390,000	–	4,461	–	0.08%	–
XLK	New	TECHNOLOGY SELECT SECTOR SPDRetf	$241,000	–	3,085	–	0.05%	–
HDV	New	ISHARES TR HIGH DIVID EQUITY FDetf	$218,000	–	2,306	–	0.04%	–

Q4 2018

			Value		Shares		↓ Weighting
HDV	Exit	ISHARES TR HIGH DIVID EQUITY FDetf	$0	–	-2,429	–	-0.04%	–
XLK	Exit	TECHNOLOGY SELECT SECTOR SPDRetf	$0	–	-3,123	–	-0.05%	–
RWO	Exit	SPDR DJ GLOBAL REAL ESTATE ETFetf	$0	–	-7,250	–	-0.07%	–
VYM	Exit	VANGUARD HIGH DIVIDEND YIELDetf	$0	–	-4,326	–	-0.08%	–
SCHX	Exit	SCHWAB STRATEGIC TR US LRG CAP ETFetf	$0	–	-5,607	–	-0.08%	–
BOND	Exit	PIMCO ACTIVE BOND EXCHANGE-TRADED FUNDetf	$0	–	-3,906	–	-0.08%	–
SCHH	Exit	SCH US REIT ETFetf	$0	–	-9,505	–	-0.08%	–
VBR	Exit	VANGUARD SMALL-CAP VALUE INDEX FUNDetf	$0	–	-2,954	–	-0.08%	–
DVY	Exit	ISHARES DJ SELECT DIVIDENDetf	$0	–	-4,741	–	-0.10%	–
CMF	Exit	ISHARES CALIFORNIA MUNI BOND ETFetf	$0	–	-8,348	–	-0.10%	–
SPLV	Exit	POWERSHARES SP500 LOW VOLATILITY ETFetf	$0	–	-10,188	–	-0.10%	–
RWR	Exit	SPDR DJ WILSHIRE REIT (ETF)etf	$0	–	-5,686	–	-0.11%	–
RWX	Exit	SPDR DJ WILSHIRE INTL REAL ESTetf	$0	–	-22,217	–	-0.18%	–
DIA	Exit	SPDR DOW JONES INDUSTRIAL ETFetf	$0	–	-3,712	–	-0.20%	–
VTI	Exit	VANGUARD TOTAL STK MKTetf	$0	–	-6,888	–	-0.21%	–
VB	Exit	VANGUARD SMALL CAP ETFetf	$0	–	-13,795	–	-0.46%	–
VIG	Exit	VANGUARD DIVIDEND APPRECIATION ETFetf	$0	–	-21,667	–	-0.49%	–
EEM	Exit	ISHARES MSCI EMERGING MARKETS ETFetf	$0	–	-125,488	–	-1.11%	–
IFGL	Exit	ISHARES TR FTSE EPRA/NAREIT GLOBAL REAL ESTATE EX-USetf	$0	–	-225,751	–	-1.33%	–
QQQ	Exit	POWERSHARES QQQ TRetf	$0	–	-42,109	–	-1.61%	–
EFA	Exit	ISHARES MSCI EAFE ETFetf	$0	–	-120,282	–	-1.68%	–
SCHA	Exit	SCHWAB ETFS- US SMALL-CAP ETFetf	$0	–	-131,211	–	-2.05%	–
IWB	Exit	ISHARES TR RUSSELL 1000 INDEX ETFetf	$0	–	-66,554	–	-2.21%	–
VWO	Exit	VANGUARD FTSE EMERGING MARKETS ETFetf	$0	–	-330,338	–	-2.78%	–
VNQI	Exit	VANGUARD GLOBAL EX-U.S. REAL ESTATE ETFetf	$0	–	-290,632	–	-3.35%	–
SCHM	Exit	SCHWAB US MID-CAP ETFetf	$0	–	-305,218	–	-3.63%	–
IWM	Exit	ISHARES RUSSELL 2000 ETFetf	$0	–	-138,424	–	-4.79%	–
VNQ	Exit	VANGUARD REAL ESTATE INDEX ETFetf	$0	–	-341,968	–	-5.67%	–
SCHE	Exit	SCHWAB EMERGING MARKET EQ ETFetf	$0	–	-1,138,955	–	-6.02%	–
IVV	Exit	ISHARES S&P 500 INDEXetf	$0	–	-105,399	–	-6.34%	–
VO	Exit	VANGUARD MID CAPetf	$0	–	-216,714	–	-7.31%	–
SCHF	Exit	SCHWAB INTERNATIONAL EQUITY ETFetf	$0	–	-1,310,785	–	-9.03%	–
VEA	Exit	VANGUARD FTSE DEVELOPED MARKETS ETFetf	$0	–	-1,286,543	–	-11.44%	–
SPY	Exit	SPDR S&P 500 ETFetf	$0	–	-454,605	–	-27.15%	–

Q3 2018

			Value		Shares		↓ Weighting
SPY	Buy	SPDR S&P 500 ETFetf	$132,163,000	+7.2%	454,605	+0.0%	27.15%	+2.7%
VEA	Sell	VANGUARD FTSE DEVELOPED MARKETS ETFetf	$55,669,000	+0.5%	1,286,543	-0.3%	11.44%	-3.7%
SCHF	Buy	SCHWAB INTERNATIONAL EQUITY ETFetf	$43,951,000	+3.8%	1,310,785	+2.3%	9.03%	-0.6%
VO	Sell	VANGUARD MID CAPetf	$35,582,000	+3.9%	216,714	-0.3%	7.31%	-0.5%
IVV	Buy	ISHARES S&P 500 INDEXetf	$30,853,000	+11.6%	105,399	+4.1%	6.34%	+7.0%
SCHE	Buy	SCHWAB EMERGING MARKET EQ ETFetf	$29,283,000	+3.5%	1,138,955	+4.2%	6.02%	-0.8%
VNQ	Buy	VANGUARD REAL ESTATE INDEX ETFetf	$27,590,000	+1.2%	341,968	+2.2%	5.67%	-3.0%
IWM	Sell	ISHARES RUSSELL 2000 ETFetf	$23,331,000	+2.8%	138,424	-0.1%	4.79%	-1.5%
SCHM	Buy	SCHWAB US MID-CAP ETFetf	$17,654,000	+10.6%	305,218	+5.0%	3.63%	+6.0%
VNQI	Sell	VANGUARD GLOBAL EX-U.S. REAL ESTATE ETFetf	$16,325,000	-4.1%	290,632	-0.9%	3.35%	-8.1%
VWO	Buy	VANGUARD FTSE EMERGING MARKETS ETFetf	$13,544,000	-1.7%	330,338	+1.1%	2.78%	-5.8%
IWB	Sell	ISHARES TR RUSSELL 1000 INDEX ETFetf	$10,763,000	+5.7%	66,554	-0.6%	2.21%	+1.3%
SCHA	Buy	SCHWAB ETFS- US SMALL-CAP ETFetf	$9,994,000	+9.6%	131,211	+5.9%	2.05%	+5.0%
QQQ	Sell	POWERSHARES QQQ TRetf	$7,823,000	+8.0%	42,109	-0.2%	1.61%	+3.5%
IFGL	Sell	ISHARES TR FTSE EPRA/NAREIT GLOBAL REAL ESTATE EX-USetf	$6,468,000	-3.4%	225,751	-1.7%	1.33%	-7.5%
VIG	Sell	VANGUARD DIVIDEND APPRECIATION ETFetf	$2,399,000	+6.3%	21,667	-2.4%	0.49%	+1.9%
VB	Sell	VANGUARD SMALL CAP ETFetf	$2,243,000	+4.3%	13,795	-0.1%	0.46%	0.0%
VTI	Sell	VANGUARD TOTAL STK MKTetf	$1,031,000	+6.2%	6,888	-0.4%	0.21%	+1.9%
DIA	Sell	SPDR DOW JONES INDUSTRIAL ETFetf	$981,000	+7.6%	3,712	-1.2%	0.20%	+3.6%
RWX	Buy	SPDR DJ WILSHIRE INTL REAL ESTetf	$850,000	-2.1%	22,217	+0.2%	0.18%	-5.9%
RWR	Buy	SPDR DJ WILSHIRE REIT (ETF)etf	$530,000	+0.4%	5,686	+1.3%	0.11%	-3.5%
CMF	Buy	ISHARES CALIFORNIA MUNI BOND ETFetf	$484,000	-0.4%	8,348	+0.5%	0.10%	-4.8%
DVY	Sell	ISHARES DJ SELECT DIVIDENDetf	$473,000	-0.2%	4,741	-2.2%	0.10%	-4.9%
BOND	Sell	PIMCO ACTIVE BOND EXCHANGE-TRADED FUNDetf	$400,000	-4.5%	3,906	-4.0%	0.08%	-8.9%
SCHH	Buy	SCH US REIT ETFetf	$397,000	+22.2%	9,505	+22.3%	0.08%	+17.1%
SCHX	Sell	SCHWAB STRATEGIC TR US LRG CAP ETFetf	$390,000	+4.3%	5,607	-2.5%	0.08%	0.0%
VYM	Sell	VANGUARD HIGH DIVIDEND YIELDetf	$377,000	+4.4%	4,326	-0.6%	0.08%	0.0%
RWO	Sell	SPDR DJ GLOBAL REAL ESTATE ETFetf	$345,000	-7.0%	7,250	-6.0%	0.07%	-11.2%
XLK	Sell	TECHNOLOGY SELECT SECTOR SPDRetf	$235,000	-8.9%	3,123	-15.9%	0.05%	-12.7%
HDV	Buy	ISHARES TR HIGH DIVID EQUITY FDetf	$220,000	+6.8%	2,429	+0.3%	0.04%	+2.3%

Q2 2018

			Value		Shares		↓ Weighting
SPY	New	SPDR S&P 500 ETFetf	$123,286,000	–	454,460	–	26.43%	–
VEA	New	VANGUARD FTSE DEVELOPED MARKETS ETFetf	$55,385,000	–	1,291,020	–	11.87%	–
SCHF	New	SCHWAB INTERNATIONAL EQUITY ETFetf	$42,357,000	–	1,281,612	–	9.08%	–
VO	New	VANGUARD MID CAPetf	$34,261,000	–	217,336	–	7.34%	–
SCHE	New	SCHWAB EMERGING MARKET EQ ETFetf	$28,289,000	–	1,092,663	–	6.06%	–
IVV	New	ISHARES S&P 500 INDEXetf	$27,638,000	–	101,219	–	5.92%	–
VNQ	New	VANGUARD REAL ESTATE INDEX ETFetf	$27,261,000	–	334,695	–	5.84%	–
IWM	New	ISHARES RUSSELL 2000 ETFetf	$22,693,000	–	138,567	–	4.86%	–
VNQI	New	VANGUARD GLOBAL EX-U.S. REAL ESTATE ETFetf	$17,030,000	–	293,209	–	3.65%	–
SCHM	New	SCHWAB US MID-CAP ETFetf	$15,958,000	–	290,731	–	3.42%	–
VWO	New	VANGUARD FTSE EMERGING MARKETS ETFetf	$13,782,000	–	326,597	–	2.95%	–
IWB	New	ISHARES TR RUSSELL 1000 INDEX ETFetf	$10,179,000	–	66,974	–	2.18%	–
SCHA	New	SCHWAB ETFS- US SMALL-CAP ETFetf	$9,119,000	–	123,945	–	1.96%	–
EFA	New	ISHARES MSCI EAFE ETFetf	$8,055,000	–	120,282	–	1.73%	–
QQQ	New	POWERSHARES QQQ TRetf	$7,242,000	–	42,191	–	1.55%	–
IFGL	New	ISHARES TR FTSE EPRA/NAREIT GLOBAL REAL ESTATE EX-USetf	$6,699,000	–	229,575	–	1.44%	–
EEM	New	ISHARES MSCI EMERGING MARKETS ETFetf	$5,437,000	–	125,488	–	1.16%	–
VIG	New	VANGUARD DIVIDEND APPRECIATION ETFetf	$2,256,000	–	22,204	–	0.48%	–
VB	New	VANGUARD SMALL CAP ETFetf	$2,150,000	–	13,810	–	0.46%	–
VTI	New	VANGUARD TOTAL STK MKTetf	$971,000	–	6,913	–	0.21%	–
DIA	New	SPDR DOW JONES INDUSTRIAL ETFetf	$912,000	–	3,758	–	0.20%	–
RWX	New	SPDR DJ WILSHIRE INTL REAL ESTetf	$868,000	–	22,173	–	0.19%	–
RWR	New	SPDR DJ WILSHIRE REIT (ETF)etf	$528,000	–	5,615	–	0.11%	–
SPLV	New	POWERSHARES SP500 LOW VOLATILITY ETFetf	$483,000	–	10,188	–	0.10%	–
CMF	New	ISHARES CALIFORNIA MUNI BOND ETFetf	$486,000	–	8,304	–	0.10%	–
DVY	New	ISHARES DJ SELECT DIVIDENDetf	$474,000	–	4,849	–	0.10%	–
BOND	New	PIMCO ACTIVE BOND EXCHANGE-TRADED FUNDetf	$419,000	–	4,070	–	0.09%	–
VBR	New	VANGUARD SMALL-CAP VALUE INDEX FUNDetf	$401,000	–	2,954	–	0.09%	–
RWO	New	SPDR DJ GLOBAL REAL ESTATE ETFetf	$371,000	–	7,711	–	0.08%	–
SCHX	New	SCHWAB STRATEGIC TR US LRG CAP ETFetf	$374,000	–	5,752	–	0.08%	–
VYM	New	VANGUARD HIGH DIVIDEND YIELDetf	$361,000	–	4,350	–	0.08%	–
SCHH	New	SCH US REIT ETFetf	$325,000	–	7,772	–	0.07%	–
XLK	New	TECHNOLOGY SELECT SECTOR SPDRetf	$258,000	–	3,714	–	0.06%	–
HDV	New	ISHARES TR HIGH DIVID EQUITY FDetf	$206,000	–	2,422	–	0.04%	–

Q4 2017

			Value		Shares		↓ Weighting
HDV	Exit	ISHARES CORE HIGH DIVIDEND ETFetf	$0	–	-2,359	–	-0.04%	–
SCHH	Exit	SCHWAB U.S. REIT ETFetf	$0	–	-5,534	–	-0.05%	–
GWX	Exit	SPDR S&P INTERNATIONAL SMALL CAP ETFetf	$0	–	-6,756	–	-0.05%	–
BOND	Exit	PIMCO ACTIVE BOND EXCHANGE-TRADED FUNDetf	$0	–	-2,698	–	-0.06%	–
SCHX	Exit	SCHWAB U.S. LARGE-CAP ETFetf	$0	–	-6,000	–	-0.08%	–
VBR	Exit	VANGUARD SMALL-CAP VALUE INDEX FUNDetf	$0	–	-2,831	–	-0.08%	–
VYM	Exit	VANGUARD HIGH DIVIDEND YIELD INDEX FUNDetf	$0	–	-4,763	–	-0.09%	–
RWO	Exit	SPDR DOW JONES GLOBAL REAL ESTATE ETFetf	$0	–	-8,422	–	-0.09%	–
DVY	Exit	ISHARES SELECT DIVIDEND ETFetf	$0	–	-4,592	–	-0.10%	–
CMF	Exit	ISHARES CALIFORNIA MUNI BOND ETFetf	$0	–	-4,087	–	-0.11%	–
RWR	Exit	SPDR DOW JONES REIT ETFetf	$0	–	-5,489	–	-0.11%	–
RWX	Exit	SPDR DOW JONES INTERNATIONAL REAL ESTATE ETFetf	$0	–	-21,746	–	-0.18%	–
DIA	Exit	SPDR DOW JONES INDUSTRIAL AVERAGE ETFetf	$0	–	-4,161	–	-0.21%	–
SPLV	Exit	POWERSHARES S&P 500 LOW VOLATILITY PORTFOLIOetf	$0	–	-20,974	–	-0.21%	–
VTI	Exit	VANGUARD TOTAL STOCK MARKET INDEX FUNDetf	$0	–	-12,417	–	-0.36%	–
VB	Exit	VANGUARD SMALL-CAP INDEX FUNDetf	$0	–	-13,599	–	-0.43%	–
VIG	Exit	VANGUARD DIVIDEND APPRECIATION INDEX FUNDetf	$0	–	-35,043	–	-0.74%	–
EEM	Exit	ISHARES MSCI EMERGING MARKETS ETFetf	$0	–	-123,171	–	-1.22%	–
QQQ	Exit	POWERSHARES QQQ TRUST, SERIES 1etf	$0	–	-42,512	–	-1.37%	–
IFGL	Exit	ISHARES FTSE EPRA/NAREIT DEVELOPED REAL ESTATE EX-US INDEX FUNDetf	$0	–	-236,342	–	-1.53%	–
EFA	Exit	ISHARES MSCI EAFE ETFetf	$0	–	-118,123	–	-1.79%	–
SCHA	Exit	SCHWAB U.S. SMALL-CAP ETFetf	$0	–	-121,210	–	-1.81%	–
IWB	Exit	ISHARES RUSSELL 1000 ETFetf	$0	–	-69,916	–	-2.17%	–
SCHM	Exit	SCHWAB U.S. MID-CAP ETFetf	$0	–	-282,666	–	-3.14%	–
VWO	Exit	VANGUARD FTSE EMERGING MARKETS ETFetf	$0	–	-333,691	–	-3.22%	–
VNQI	Exit	VANGUARD GLOBAL EX-U.S. REAL ESTATE INDEXetf	$0	–	-287,477	–	-3.79%	–
IWM	Exit	ISHARES RUSSELL 2000 ETFetf	$0	–	-142,960	–	-4.70%	–
IVV	Exit	ISHARES CORE S&P 500 ETFetf	$0	–	-103,362	–	-5.80%	–
VNQ	Exit	VANGUARD REIT ETFetf	$0	–	-316,102	–	-5.82%	–
SCHE	Exit	SCHWAB EMERGING MARKETS EQUITY ETFetf	$0	–	-1,064,203	–	-6.35%	–
VO	Exit	VANGUARD MID-CAP INDEX FUNDetf	$0	–	-221,471	–	-7.22%	–
SCHF	Exit	SCHWAB INTERNATIONAL EQUITY ETFetf	$0	–	-1,200,506	–	-8.91%	–
VEA	Exit	VANGUARD FTSE DEVELOPED MARKETS ETFetf	$0	–	-1,288,352	–	-12.40%	–
SPY	Exit	SPDR S&P 500 ETFetf	$0	–	-462,994	–	-25.79%	–

Q3 2017

			Value		Shares		↓ Weighting
SPY	Sell	SPDR S&P 500 ETFetf	$116,318,000	-17.3%	462,994	-20.4%	25.79%	-15.6%
VEA	Sell	VANGUARD FTSE DEVELOPED MARKETS ETFetf	$55,927,000	+4.8%	1,288,352	-0.3%	12.40%	+6.9%
SCHF	Buy	SCHWAB INTERNATIONAL EQUITY ETFetf	$40,181,000	+6.3%	1,200,506	+1.0%	8.91%	+8.5%
VO	Sell	VANGUARD MID-CAP INDEX FUNDetf	$32,556,000	+2.1%	221,471	-1.0%	7.22%	+4.2%
SCHE	Buy	SCHWAB EMERGING MARKETS EQUITY ETFetf	$28,638,000	+8.3%	1,064,203	+0.0%	6.35%	+10.6%
VNQ	Buy	VANGUARD REIT ETFetf	$26,265,000	+1.5%	316,102	+1.7%	5.82%	+3.6%
IVV	Buy	ISHARES CORE S&P 500 ETFetf	$26,143,000	+4.1%	103,362	+0.2%	5.80%	+6.3%
IWM	Sell	ISHARES RUSSELL 2000 ETFetf	$21,184,000	+0.7%	142,960	-4.2%	4.70%	+2.8%
VNQI	Buy	VANGUARD GLOBAL EX-U.S. REAL ESTATE INDEXetf	$17,079,000	+8.0%	287,477	+2.2%	3.79%	+10.2%
VWO	Buy	VANGUARD FTSE EMERGING MARKETS ETFetf	$14,539,000	+6.8%	333,691	+0.1%	3.22%	+9.0%
SCHM	Buy	SCHWAB U.S. MID-CAP ETFetf	$14,164,000	+7.2%	282,666	+3.0%	3.14%	+9.4%
IWB	Sell	ISHARES RUSSELL 1000 ETFetf	$9,780,000	+2.4%	69,916	-1.0%	2.17%	+4.4%
SCHA	Buy	SCHWAB U.S. SMALL-CAP ETFetf	$8,166,000	+7.1%	121,210	+1.6%	1.81%	+9.3%
EFA	Sell	ISHARES MSCI EAFE ETFetf	$8,089,000	+4.7%	118,123	-0.3%	1.79%	+6.8%
IFGL	Sell	ISHARES FTSE EPRA/NAREIT DEVELOPED REAL ESTATE EX-US INDEX FUNDetf	$6,894,000	-0.2%	236,342	-2.5%	1.53%	+1.9%
QQQ	Sell	POWERSHARES QQQ TRUST, SERIES 1etf	$6,183,000	+5.2%	42,512	-0.4%	1.37%	+7.4%
EEM	Sell	ISHARES MSCI EMERGING MARKETS ETFetf	$5,519,000	+8.2%	123,171	-0.1%	1.22%	+10.3%
VIG	Buy	VANGUARD DIVIDEND APPRECIATION INDEX FUNDetf	$3,322,000	+2.7%	35,043	+0.4%	0.74%	+4.7%
VB	Buy	VANGUARD SMALL-CAP INDEX FUNDetf	$1,922,000	+5.3%	13,599	+0.9%	0.43%	+7.3%
VTI	Buy	VANGUARD TOTAL STOCK MARKET INDEX FUNDetf	$1,608,000	+4.1%	12,417	+0.0%	0.36%	+6.0%
DIA	Buy	SPDR DOW JONES INDUSTRIAL AVERAGE ETFetf	$931,000	+5.2%	4,161	+0.3%	0.21%	+7.3%
RWX	Buy	SPDR DOW JONES INTERNATIONAL REAL ESTATE ETFetf	$835,000	+1.7%	21,746	+0.9%	0.18%	+3.9%
RWR	Buy	SPDR DOW JONES REIT ETFetf	$508,000	+0.4%	5,489	+0.8%	0.11%	+2.7%
CMF	Buy	ISHARES CALIFORNIA MUNI BOND ETFetf	$484,000	+1.0%	4,087	+0.5%	0.11%	+2.9%
DVY	Sell	ISHARES SELECT DIVIDEND ETFetf	$430,000	+0.9%	4,592	-0.6%	0.10%	+2.2%
RWO	Sell	SPDR DOW JONES GLOBAL REAL ESTATE ETFetf	$402,000	-2.7%	8,422	-2.7%	0.09%	-1.1%
VYM	Buy	VANGUARD HIGH DIVIDEND YIELD INDEX FUNDetf	$386,000	+4.3%	4,763	+0.7%	0.09%	+7.5%
VBR	New	VANGUARD SMALL-CAP VALUE INDEX FUNDetf	$362,000	–	2,831	–	0.08%	–
SCHX	Buy	SCHWAB U.S. LARGE-CAP ETFetf	$360,000	+7.5%	6,000	+3.4%	0.08%	+9.6%
BOND	Sell	PIMCO ACTIVE BOND EXCHANGE-TRADED FUNDetf	$288,000	-5.6%	2,698	-6.3%	0.06%	-3.0%
SCHH	Buy	SCHWAB U.S. REIT ETFetf	$228,000	+0.4%	5,534	+0.6%	0.05%	+4.1%
HDV	Sell	ISHARES CORE HIGH DIVIDEND ETFetf	$203,000	-2.9%	2,359	-6.3%	0.04%	0.0%

Q2 2017

			Value		Shares		↓ Weighting
SPY	New	SPDR S&P 500 ETFetf	$140,636,000	–	581,621	–	30.55%	–
VEA	New	VANGUARD FTSE DEVELOPED MARKETS ETFetf	$53,374,000	–	1,291,714	–	11.60%	–
SCHF	New	SCHWAB INTERNATIONAL EQUITY ETFetf	$37,789,000	–	1,189,067	–	8.21%	–
VO	New	VANGUARD MID-CAP INDEX FUNDetf	$31,888,000	–	223,747	–	6.93%	–
SCHE	New	SCHWAB EMERGING MARKETS EQUITY ETFetf	$26,438,000	–	1,063,884	–	5.74%	–
VNQ	New	VANGUARD REIT ETFetf	$25,869,000	–	310,814	–	5.62%	–
IVV	New	ISHARES CORE S&P 500 ETFetf	$25,107,000	–	103,148	–	5.45%	–
IWM	New	ISHARES RUSSELL 2000 ETFetf	$21,032,000	–	149,246	–	4.57%	–
VNQI	New	VANGUARD GLOBAL EX-U.S. REAL ESTATE INDEXetf	$15,821,000	–	281,270	–	3.44%	–
VWO	New	VANGUARD FTSE EMERGING MARKETS ETFetf	$13,615,000	–	333,456	–	2.96%	–
SCHM	New	SCHWAB U.S. MID-CAP ETFetf	$13,217,000	–	274,446	–	2.87%	–
IWB	New	ISHARES RUSSELL 1000 ETFetf	$9,555,000	–	70,637	–	2.08%	–
EFA	New	ISHARES MSCI EAFE ETFetf	$7,727,000	–	118,517	–	1.68%	–
SCHA	New	SCHWAB U.S. SMALL-CAP ETFetf	$7,622,000	–	119,255	–	1.66%	–
IFGL	New	ISHARES FTSE EPRA/NAREIT DEVELOPED REAL ESTATE EX-US INDEX FUNDetf	$6,906,000	–	242,474	–	1.50%	–
QQQ	New	POWERSHARES QQQ TRUST, SERIES 1etf	$5,875,000	–	42,680	–	1.28%	–
EEM	New	ISHARES MSCI EMERGING MARKETS ETFetf	$5,103,000	–	123,299	–	1.11%	–
VIG	New	VANGUARD DIVIDEND APPRECIATION INDEX FUNDetf	$3,234,000	–	34,894	–	0.70%	–
VB	New	VANGUARD SMALL-CAP INDEX FUNDetf	$1,826,000	–	13,473	–	0.40%	–
VTI	New	VANGUARD TOTAL STOCK MARKET INDEX FUNDetf	$1,545,000	–	12,416	–	0.34%	–
SPLV	New	POWERSHARES S&P 500 LOW VOLATILITY PORTFOLIOetf	$938,000	–	20,974	–	0.20%	–
DIA	New	SPDR DOW JONES INDUSTRIAL AVERAGE ETFetf	$885,000	–	4,149	–	0.19%	–
RWX	New	SPDR DOW JONES INTERNATIONAL REAL ESTATE ETFetf	$821,000	–	21,556	–	0.18%	–
RWR	New	SPDR DOW JONES REIT ETFetf	$506,000	–	5,445	–	0.11%	–
CMF	New	ISHARES CALIFORNIA MUNI BOND ETFetf	$479,000	–	4,066	–	0.10%	–
DVY	New	ISHARES SELECT DIVIDEND ETFetf	$426,000	–	4,621	–	0.09%	–
RWO	New	SPDR DOW JONES GLOBAL REAL ESTATE ETFetf	$413,000	–	8,656	–	0.09%	–
VYM	New	VANGUARD HIGH DIVIDEND YIELD INDEX FUNDetf	$370,000	–	4,729	–	0.08%	–
SCHX	New	SCHWAB U.S. LARGE-CAP ETFetf	$335,000	–	5,801	–	0.07%	–
BOND	New	PIMCO ACTIVE BOND EXCHANGE-TRADED FUNDetf	$305,000	–	2,879	–	0.07%	–
GWX	New	SPDR S&P INTERNATIONAL SMALL CAP ETFetf	$225,000	–	6,756	–	0.05%	–
SCHH	New	SCHWAB U.S. REIT ETFetf	$227,000	–	5,502	–	0.05%	–
HDV	New	ISHARES CORE HIGH DIVIDEND ETFetf	$209,000	–	2,517	–	0.04%	–

Q4 2016

			Value		Shares		↓ Weighting
GWX	Exit	SPDR S&P INTERNATIONAL SMALL CAP ETFetf	$0	–	-6,496	–	-0.05%	–
SCHH	Exit	SCHWAB U.S. REIT ETFetf	$0	–	-5,400	–	-0.06%	–
SCHX	Exit	SCHWAB U.S. LARGE-CAP ETFetf	$0	–	-5,757	–	-0.07%	–
VYM	Exit	VANGUARD HIGH DIVIDEND YIELD INDEX FUNDetf	$0	–	-4,856	–	-0.08%	–
DVY	Exit	ISHARES SELECT DIVIDEND ETFetf	$0	–	-4,898	–	-0.10%	–
BOND	Exit	PIMCO TOTAL RETURN ACTIVE EXCHANGE-TRADED FUNDetf	$0	–	-3,860	–	-0.10%	–
RWR	Exit	SPDR DOW JONES REIT ETFetf	$0	–	-5,274	–	-0.12%	–
GLD	Exit	SPDR GOLD SHARESetf	$0	–	-4,972	–	-0.15%	–
DIA	Exit	SPDR DOW JONES INDUSTRIAL AVERAGE ETFetf	$0	–	-4,387	–	-0.19%	–
RWX	Exit	SPDR DOW JONES INTERNATIONAL REAL ESTATE ETFetf	$0	–	-19,968	–	-0.20%	–
SPLV	Exit	POWERSHARES S&P 500 LOW VOLATILITY PORTFOLIOetf	$0	–	-20,974	–	-0.21%	–
VTI	Exit	VANGUARD TOTAL STOCK MARKET INDEX FUNDetf	$0	–	-12,572	–	-0.33%	–
VB	Exit	VANGUARD SMALL-CAP INDEX FUNDetf	$0	–	-13,268	–	-0.39%	–
VIG	Exit	VANGUARD DIVIDEND APPRECIATION INDEX FUNDetf	$0	–	-43,434	–	-0.87%	–
EEM	Exit	ISHARES MSCI EMERGING MARKETS ETFetf	$0	–	-121,377	–	-1.09%	–
QQQ	Exit	POWERSHARES QQQ TRUST, SERIES 1etf	$0	–	-42,545	–	-1.21%	–
IFGL	Exit	ISHARES FTSE EPRA/NAREIT DEVELOPED REAL ESTATE EX-US INDEX FUNDetf	$0	–	-188,398	–	-1.36%	–
SCHA	Exit	SCHWAB U.S. SMALL-CAP ETFetf	$0	–	-105,042	–	-1.44%	–
EFA	Exit	ISHARES MSCI EAFE ETFetf	$0	–	-119,105	–	-1.68%	–
IWB	Exit	ISHARES RUSSELL 1000 ETFetf	$0	–	-76,764	–	-2.21%	–
VNQI	Exit	VANGUARD GLOBAL EX-U.S. REAL ESTATE INDEXetf	$0	–	-181,592	–	-2.44%	–
SCHM	Exit	SCHWAB U.S. MID-CAP ETFetf	$0	–	-254,593	–	-2.65%	–
RWO	Exit	SPDR DOW JONES GLOBAL REAL ESTATE ETFetf	$0	–	-261,106	–	-3.11%	–
VWO	Exit	VANGUARD FTSE EMERGING MARKETS ETFetf	$0	–	-351,298	–	-3.16%	–
IWM	Exit	ISHARES RUSSELL 2000 ETFetf	$0	–	-160,514	–	-4.76%	–
VNQ	Exit	VANGUARD REIT ETFetf	$0	–	-232,767	–	-4.82%	–
SCHE	Exit	SCHWAB EMERGING MARKETS EQUITY ETFetf	$0	–	-877,174	–	-4.83%	–
IVV	Exit	ISHARES CORE S&P 500 ETFetf	$0	–	-93,544	–	-4.86%	–
SCHF	Exit	SCHWAB INTERNATIONAL EQUITY ETFetf	$0	–	-1,021,707	–	-7.03%	–
VO	Exit	VANGUARD MID-CAP INDEX FUNDetf	$0	–	-239,752	–	-7.41%	–
VEA	Exit	VANGUARD FTSE DEVELOPED MARKETS ETFetf	$0	–	-1,273,415	–	-11.38%	–
SPY	Exit	SPDR S&P 500 ETFetf	$0	–	-612,408	–	-31.64%	–

Q3 2016

			Value		Shares		↓ Weighting
SPY	Sell	SPDR S&P 500 ETFetf	$132,464,000	+2.3%	612,408	-1.0%	31.64%	-2.0%
VEA	Buy	VANGUARD FTSE DEVELOPED MARKETS ETFetf	$47,638,000	+7.6%	1,273,415	+1.7%	11.38%	+3.2%
VO	Sell	VANGUARD MID-CAP INDEX FUNDetf	$31,033,000	+3.9%	239,752	-0.8%	7.41%	-0.4%
SCHF	Sell	SCHWAB INTERNATIONAL EQUITY ETFetf	$29,415,000	+5.4%	1,021,707	-0.8%	7.03%	+1.0%
IVV	Buy	ISHARES CORE S&P 500 ETFetf	$20,351,000	+6.4%	93,544	+3.0%	4.86%	+2.0%
SCHE	Buy	SCHWAB EMERGING MARKETS EQUITY ETFetf	$20,228,000	+12.2%	877,174	+3.6%	4.83%	+7.5%
VNQ	Buy	VANGUARD REIT ETFetf	$20,190,000	-0.3%	232,767	+1.9%	4.82%	-4.4%
IWM	Sell	ISHARES RUSSELL 2000 ETFetf	$19,937,000	+7.6%	160,514	-0.4%	4.76%	+3.2%
VWO	Buy	VANGUARD FTSE EMERGING MARKETS ETFetf	$13,219,000	+9.0%	351,298	+2.0%	3.16%	+4.5%
RWO	Sell	SPDR DOW JONES GLOBAL REAL ESTATE ETFetf	$13,008,000	-4.5%	261,106	-3.5%	3.11%	-8.5%
SCHM	Buy	SCHWAB U.S. MID-CAP ETFetf	$11,080,000	+6.4%	254,593	+2.7%	2.65%	+2.0%
VNQI	Buy	VANGUARD GLOBAL EX-U.S. REAL ESTATE INDEXetf	$10,200,000	+7.6%	181,592	+3.5%	2.44%	+3.2%
IWB	Sell	ISHARES RUSSELL 1000 ETFetf	$9,247,000	-2.2%	76,764	-5.1%	2.21%	-6.2%
EFA	Sell	ISHARES MSCI EAFE ETFetf	$7,043,000	+5.0%	119,105	-0.9%	1.68%	+0.6%
SCHA	Buy	SCHWAB U.S. SMALL-CAP ETFetf	$6,045,000	+8.7%	105,042	+2.1%	1.44%	+4.3%
IFGL	Buy	ISHARES FTSE EPRA/NAREIT DEVELOPED REAL ESTATE EX-US INDEX FUNDetf	$5,684,000	+4.9%	188,398	+1.3%	1.36%	+0.5%
QQQ	Sell	POWERSHARES QQQ TRUST, SERIES 1etf	$5,051,000	+6.6%	42,545	-3.4%	1.21%	+2.3%
EEM	Sell	ISHARES MSCI EMERGING MARKETS ETFetf	$4,546,000	+1.1%	121,377	-7.3%	1.09%	-3.1%
VIG	Sell	VANGUARD DIVIDEND APPRECIATION INDEX FUNDetf	$3,645,000	-0.7%	43,434	-1.5%	0.87%	-4.7%
VB	Buy	VANGUARD SMALL-CAP INDEX FUNDetf	$1,621,000	+6.1%	13,268	+0.5%	0.39%	+1.6%
VTI	Sell	VANGUARD TOTAL STOCK MARKET INDEX FUNDetf	$1,400,000	+3.1%	12,572	-0.8%	0.33%	-1.2%
RWX	Buy	SPDR DOW JONES INTERNATIONAL REAL ESTATE ETFetf	$833,000	+1.5%	19,968	+0.9%	0.20%	-2.9%
DIA	Buy	SPDR DOW JONES INDUSTRIAL AVERAGE ETFetf	$802,000	+3.5%	4,387	+1.3%	0.19%	-0.5%
RWR	Buy	SPDR DOW JONES REIT ETFetf	$514,000	-1.2%	5,274	+0.8%	0.12%	-5.4%
DVY	Sell	ISHARES SELECT DIVIDEND ETFetf	$420,000	-4.1%	4,898	-4.6%	0.10%	-8.3%
BOND	Buy	PIMCO TOTAL RETURN ACTIVE EXCHANGE-TRADED FUNDetf	$417,000	+42.8%	3,860	+41.8%	0.10%	+37.0%
VYM	Sell	VANGUARD HIGH DIVIDEND YIELD INDEX FUNDetf	$350,000	-0.8%	4,856	-1.8%	0.08%	-4.5%
SCHX	Buy	SCHWAB U.S. LARGE-CAP ETFetf	$297,000	+9.6%	5,757	+5.7%	0.07%	+4.4%
SCHH	Buy	SCHWAB U.S. REIT ETFetf	$230,000	-1.3%	5,400	+0.5%	0.06%	-5.2%
GWX	New	SPDR S&P INTERNATIONAL SMALL CAP ETFetf	$204,000	–	6,496	–	0.05%	–

Q2 2016

			Value		Shares		↓ Weighting
SPY	New	SPDR S&P 500 TRUSTetf	$129,548,000	–	618,441	–	32.28%	–
VEA	New	VANGUARD FTSE DEVELOPED MARKETS ETFetf	$44,273,000	–	1,252,056	–	11.03%	–
VO	New	VANGUARD MID-CAP INDEX FUNDetf	$29,882,000	–	241,705	–	7.44%	–
SCHF	New	SCHWAB INTERNATIONAL EQUITY ETFetf	$27,920,000	–	1,029,875	–	6.96%	–
VNQ	New	VANGUARD REIT ETFetf	$20,248,000	–	228,347	–	5.04%	–
IVV	New	ISHARES CORE S&P 500 ETFetf	$19,127,000	–	90,863	–	4.76%	–
IWM	New	ISHARES RUSSELL 2000 ETFetf	$18,524,000	–	161,107	–	4.62%	–
SCHE	New	SCHWAB EMERGING MARKETS EQUITY ETFetf	$18,033,000	–	846,997	–	4.49%	–
RWO	New	SPDR DOW JONES GLOBAL REAL ESTATE ETFetf	$13,623,000	–	270,518	–	3.39%	–
VWO	New	VANGUARD FTSE EMERGING MARKETS ETFetf	$12,133,000	–	344,383	–	3.02%	–
SCHM	New	SCHWAB U.S. MID-CAP ETFetf	$10,415,000	–	247,907	–	2.60%	–
VNQI	New	VANGUARD GLOBAL EX-U.S. REAL ESTATE INDEXetf	$9,482,000	–	175,407	–	2.36%	–
IWB	New	ISHARES RUSSELL 1000 ETFetf	$9,455,000	–	80,890	–	2.36%	–
EFA	New	ISHARES MSCI EAFE ETFetf	$6,710,000	–	120,208	–	1.67%	–
SCHA	New	SCHWAB U.S. SMALL-CAP ETFetf	$5,561,000	–	102,930	–	1.38%	–
IFGL	New	ISHARES FTSE EPRA/NAREIT DEVELOPED REAL ESTATE EX-US INDEX FUNDetf	$5,421,000	–	185,897	–	1.35%	–
QQQ	New	POWERSHARES QQQ TRUST, SERIES 1etf	$4,737,000	–	44,048	–	1.18%	–
EEM	New	ISHARES MSCI EMERGING MARKETS ETFetf	$4,498,000	–	130,917	–	1.12%	–
VIG	New	VANGUARD DIVIDEND APPRECIATION INDEX FUNDetf	$3,669,000	–	44,074	–	0.91%	–
VB	New	VANGUARD SMALL-CAP INDEX FUNDetf	$1,528,000	–	13,206	–	0.38%	–
VTI	New	VANGUARD TOTAL STOCK MARKET INDEX FUNDetf	$1,358,000	–	12,671	–	0.34%	–
SPLV	New	POWERSHARES S&P 500 LOW VOLATILITY PORTFOLIOetf	$897,000	–	20,974	–	0.22%	–
RWX	New	SPDR DOW JONES INTERNATIONAL REAL ESTATE ETFetf	$821,000	–	19,797	–	0.20%	–
DIA	New	SPDR DOW JONES INDUSTRIAL AVERAGE ETFetf	$775,000	–	4,331	–	0.19%	–
GLD	New	SPDR GOLD SHARESetf	$629,000	–	4,972	–	0.16%	–
RWR	New	SPDR DOW JONES REIT ETFetf	$520,000	–	5,234	–	0.13%	–
DVY	New	ISHARES SELECT DIVIDEND ETFetf	$438,000	–	5,135	–	0.11%	–
VYM	New	VANGUARD HIGH DIVIDEND YIELD INDEX FUNDetf	$353,000	–	4,947	–	0.09%	–
BOND	New	PIMCO TOTAL RETURN ACTIVE EXCHANGE-TRADED FUNDetf	$292,000	–	2,723	–	0.07%	–
SCHX	New	SCHWAB U.S. LARGE-CAP ETFetf	$271,000	–	5,448	–	0.07%	–
SCHH	New	SCHWAB U.S. REIT ETFetf	$233,000	–	5,371	–	0.06%	–

Q4 2015

			Value		Shares		↓ Weighting
BOND	Exit	PIMCO TOTAL RETURN ACTIVE EXCHANGE-TRADED FUNDetf	$0	–	-2,024	–	-0.06%	–
VYM	Exit	VANGUARD HIGH DIVIDEND YIELD INDEX FUNDetf	$0	–	-4,832	–	-0.08%	–
DVY	Exit	ISHARES DJ SELECT DIVIDENDetf	$0	–	-4,963	–	-0.10%	–
GLD	Exit	SPDR GOLD ETFetf	$0	–	-4,972	–	-0.14%	–
SPLV	Exit	POWERSHARES S&P 500 LOW VOLATILITY PORTFOLIOetf	$0	–	-21,052	–	-0.21%	–
RWX	Exit	SPDR DOW JONES INTERNATIONAL REAL ESTATE ETFetf	$0	–	-19,302	–	-0.21%	–
RWR	Exit	SPDR DOW JONES REIT ETFetf	$0	–	-9,347	–	-0.22%	–
DIA	Exit	SPDR DOW JONES INDUSTRIAL AVERAGE ETFetf	$0	–	-5,525	–	-0.25%	–
DJP	Exit	IPATH DJ-UBS COMMODITY TOTAL RETURN ETNetf	$0	–	-43,926	–	-0.29%	–
VTI	Exit	VANGUARD TOTAL STOCK MARKET INDEX FUNDetf	$0	–	-13,063	–	-0.35%	–
VB	Exit	VANGUARD SMALL-CAP INDEX FUNDetf	$0	–	-12,945	–	-0.38%	–
VIG	Exit	VANGUARD DIVIDEND APPRECIATION INDEX FUNDetf	$0	–	-46,480	–	-0.94%	–
SCHA	Exit	SCHWAB U.S. SMALL-CAP ETFetf	$0	–	-72,679	–	-1.01%	–
QQQ	Exit	POWERSHARES QQQ TRUST, SERIES 1etf	$0	–	-44,869	–	-1.25%	–
VNQI	Exit	VANGUARD GLOBAL EX-U.S. REAL ESTATE INDEXetf	$0	–	-119,600	–	-1.67%	–
EFA	Exit	ISHARES MSCI EAFE ETFetf	$0	–	-112,944	–	-1.77%	–
IFGL	Exit	ISHARES FTSE EPRA/NAREIT DEVELOPED REAL ESTATE EX-US INDEX FUNDetf	$0	–	-260,715	–	-2.00%	–
EEM	Exit	ISHARES MSCI EMERGING MARKETS ETFetf	$0	–	-222,972	–	-2.00%	–
SCHM	Exit	SCHWAB U.S. MID-CAP ETFetf	$0	–	-198,328	–	-2.11%	–
IWB	Exit	ISHARES RUSSELL 1000 ETFetf	$0	–	-81,396	–	-2.38%	–
VWO	Exit	VANGUARD FTSE EMERGING MARKETS ETFetf	$0	–	-332,514	–	-3.01%	–
SCHE	Exit	SCHWAB EMERGING MARKETS EQUITY ETFetf	$0	–	-554,277	–	-3.06%	–
RWO	Exit	SPDR DOW JONES GLOBAL REAL ESTATE ETFetf	$0	–	-276,376	–	-3.41%	–
VNQ	Exit	VANGUARD REIT INDEX ETFetf	$0	–	-214,841	–	-4.44%	–
SCHF	Exit	SCHWAB INTERNATIONAL EQUITY ETFetf	$0	–	-604,062	–	-4.52%	–
IVV	Exit	ISHARES CORE S&P 500 ETFetf	$0	–	-87,247	–	-4.60%	–
IWM	Exit	ISHARES RUSSELL 2000 ETFetf	$0	–	-165,944	–	-4.96%	–
VO	Exit	VANGUARD MID-CAP INDEX FUNDetf	$0	–	-247,365	–	-7.89%	–
VEA	Exit	VANGUARD FTSE DEVELOPED MARKETS ETFetf	$0	–	-1,466,323	–	-14.29%	–
SPY	Exit	SPDR S&P 500 TRUSTetf	$0	–	-618,324	–	-32.40%	–

Q3 2015

			Value		Shares		↓ Weighting
SPY	Buy	SPDR S&P 500 TRUSTetf	$118,489,000	-6.4%	618,324	+0.6%	32.40%	-0.4%
VEA	Buy	VANGUARD FTSE DEVELOPED MARKETS ETFetf	$52,260,000	-8.9%	1,466,323	+1.3%	14.29%	-3.1%
VO	Buy	VANGUARD MID-CAP INDEX FUNDetf	$28,860,000	-6.4%	247,365	+2.2%	7.89%	-0.4%
IWM	Buy	ISHARES RUSSELL 2000 ETFetf	$18,121,000	-11.2%	165,944	+1.5%	4.96%	-5.5%
IVV	Buy	ISHARES CORE S&P 500 ETFetf	$16,813,000	+0.2%	87,247	+7.7%	4.60%	+6.6%
SCHF	Buy	SCHWAB INTERNATIONAL EQUITY ETFetf	$16,533,000	+1.4%	604,062	+12.9%	4.52%	+7.9%
VNQ	Buy	VANGUARD REIT INDEX ETFetf	$16,229,000	+4.8%	214,841	+3.6%	4.44%	+11.5%
RWO	Sell	SPDR DOW JONES GLOBAL REAL ESTATE ETFetf	$12,481,000	-2.8%	276,376	-1.4%	3.41%	+3.4%
SCHE	Buy	SCHWAB EMERGING MARKETS EQUITY ETFetf	$11,207,000	+34.7%	554,277	+63.7%	3.06%	+43.3%
VWO	Sell	VANGUARD FTSE EMERGING MARKETS ETFetf	$11,003,000	-50.2%	332,514	-38.5%	3.01%	-47.1%
IWB	Sell	ISHARES RUSSELL 1000 ETFetf	$8,713,000	-8.7%	81,396	-1.0%	2.38%	-2.9%
SCHM	Buy	SCHWAB U.S. MID-CAP ETFetf	$7,719,000	-2.4%	198,328	+6.9%	2.11%	+3.8%
EEM	Buy	ISHARES MSCI EMERGING MARKETS ETFetf	$7,309,000	+525.8%	222,972	+656.4%	2.00%	+566.3%
IFGL	Buy	ISHARES FTSE EPRA/NAREIT DEVELOPED REAL ESTATE EX-US INDEX FUNDetf	$7,303,000	+109.4%	260,715	+122.3%	2.00%	+122.6%
EFA	Buy	ISHARES MSCI EAFE ETFetf	$6,474,000	-4.9%	112,944	+5.3%	1.77%	+1.1%
VNQI	Sell	VANGUARD GLOBAL EX-U.S. REAL ESTATE INDEXetf	$6,096,000	-42.2%	119,600	-37.1%	1.67%	-38.5%
QQQ	Sell	POWERSHARES QQQ TRUST, SERIES 1etf	$4,566,000	-8.9%	44,869	-4.2%	1.25%	-3.1%
SCHA	Buy	SCHWAB U.S. SMALL-CAP ETFetf	$3,691,000	+2.2%	72,679	+15.6%	1.01%	+8.6%
VIG	Buy	VANGUARD DIVIDEND APPRECIATION INDEX FUNDetf	$3,427,000	-5.0%	46,480	+1.2%	0.94%	+1.0%
VTI	Buy	VANGUARD TOTAL STOCK MARKET INDEX FUNDetf	$1,290,000	-7.7%	13,063	+0.0%	0.35%	-1.7%
DJP	Sell	IPATH DJ-UBS COMMODITY TOTAL RETURN ETNetf	$1,074,000	-50.9%	43,926	-41.7%	0.29%	-47.8%
DIA	Sell	SPDR DOW JONES INDUSTRIAL AVERAGE ETFetf	$898,000	-8.7%	5,525	-1.3%	0.25%	-2.8%
RWR	Buy	SPDR DOW JONES REIT ETFetf	$805,000	+2.9%	9,347	+0.9%	0.22%	+9.5%
RWX	Buy	SPDR DOW JONES INTERNATIONAL REAL ESTATE ETFetf	$759,000	-5.0%	19,302	+1.1%	0.21%	+1.5%
DVY	Sell	ISHARES DJ SELECT DIVIDENDetf	$361,000	-25.6%	4,963	-23.1%	0.10%	-20.8%
VYM	Buy	VANGUARD HIGH DIVIDEND YIELD INDEX FUNDetf	$303,000	-5.3%	4,832	+1.6%	0.08%	+1.2%
BOND	New	PIMCO TOTAL RETURN ACTIVE EXCHANGE-TRADED FUNDetf	$213,000	–	2,024	–	0.06%	–
VCSH	Exit	VANGUARD SHORT-TERM CORPORATE BOND INDEX FUNDetf	$0	–	-2,698	–	-0.06%	–
IBB	Exit	ISHARES NASDAQ BIOTECHNOLOGY ETFetf	$0	–	-593	–	-0.06%	–

Q2 2015

			Value		Shares		↓ Weighting
SPY	New	SPDR S&P 500 ETFetf	$126,527,000	–	614,655	–	32.53%	–
VEA	New	VANGUARD FTSE DEVELOPED MARKETS ETFetf	$57,391,000	–	1,447,432	–	14.75%	–
VO	New	VANGUARD MID CAPetf	$30,830,000	–	241,936	–	7.93%	–
VWO	New	VANGUARD FTSE EMERGING MARKETS ETFetf	$22,108,000	–	540,795	–	5.68%	–
IWM	New	ISHARES RUSSELL 2000 ETFetf	$20,407,000	–	163,440	–	5.25%	–
IVV	New	ISHARES S&P 500 INDEXetf	$16,786,000	–	81,006	–	4.32%	–
SCHF	New	SCHWAB INTERNATIONAL EQUITY ETFetf	$16,301,000	–	534,987	–	4.19%	–
VNQ	New	VANGUARD REIT INDEX ETFetf	$15,482,000	–	207,285	–	3.98%	–
RWO	New	SPDR DJ GLOBAL REAL ESTATE ETFetf	$12,840,000	–	280,228	–	3.30%	–
VNQI	New	VANGUARD GLOBAL EX-U.S. REAL ESTATE ETFetf	$10,545,000	–	190,142	–	2.71%	–
IWB	New	ISHARES TR RUSSELL 1000 INDEX ETFetf	$9,545,000	–	82,254	–	2.45%	–
SCHE	New	SCHWAB EMERGING MARKETS EQUITY ETFetf	$8,321,000	–	338,542	–	2.14%	–
SCHM	New	SCHWAB US MID-CAP ETFetf	$7,910,000	–	185,501	–	2.03%	–
EFA	New	ISHARES MSCI EAFE ETFetf	$6,807,000	–	107,210	–	1.75%	–
QQQ	New	POWERSHARES QQQ TRetf	$5,014,000	–	46,830	–	1.29%	–
SCHA	New	SCHWAB U.S. SMALL-CAP ETFetf	$3,613,000	–	62,850	–	0.93%	–
VIG	New	VANGUARD DIVIDEND APPRECIATION ETFetf	$3,609,000	–	45,926	–	0.93%	–
IFGL	New	ISHARES TR FTSE EPRA/NAREIT GLOBAL REAL ESTATE EX-USetf	$3,488,000	–	117,277	–	0.90%	–
DJP	New	IPATH DJ-UBS COMMODITY TOTAL RETURN ETNetf	$2,189,000	–	75,316	–	0.56%	–
VB	New	VANGUARD SMALL CAP ETFetf	$1,572,000	–	12,945	–	0.40%	–
VTI	New	VANGUARD TOTAL STK MKTetf	$1,398,000	–	13,062	–	0.36%	–
EEM	New	ISHARES MSCI EMERGING MARKETS ETFetf	$1,168,000	–	29,477	–	0.30%	–
DIA	New	SPDR DOW JONES INDUSTRIAL ETFetf	$984,000	–	5,595	–	0.25%	–
RWX	New	SPDR DJ WILSHIRE INTL REAL ESTetf	$799,000	–	19,085	–	0.20%	–
RWR	New	SPDR DJ WILSHIRE REIT (ETF)etf	$782,000	–	9,264	–	0.20%	–
SPLV	New	POWERSHARES SP500 LOW VOLATILITY ETFetf	$771,000	–	21,052	–	0.20%	–
GLD	New	SPDR GOLD ETFetf	$559,000	–	4,972	–	0.14%	–
DVY	New	ISHARES DJ SELECT DIVIDENDetf	$485,000	–	6,457	–	0.12%	–
VYM	New	VANGUARD HIGH DIVIDEND YIELDetf	$320,000	–	4,754	–	0.08%	–
IBB	New	ISHARES NASDAQ BIOTECHNOLOGY ETFetf	$219,000	–	593	–	0.06%	–
VCSH	New	VANGUARD SHORT-TERM CORPORATE BOND INDEX FUNDetf	$215,000	–	2,698	–	0.06%	–

Q4 2014

			Value		Shares		↓ Weighting
VYM	Exit	VANGUARD HIGH DIVIDEND YIELDetf	$0	–	-4,843	–	-0.10%	–
VTI	Exit	VANGUARD TOTAL STK MKTetf	$0	–	-3,372	–	-0.11%	–
DVY	Exit	ISHARES DJ SELECT DIVIDENDetf	$0	–	-6,336	–	-0.15%	–
GLD	Exit	SPDR GOLD ETFetf	$0	–	-4,777	–	-0.18%	–
RWR	Exit	SPDR DJ WILSHIRE REIT (ETF)etf	$0	–	-8,933	–	-0.22%	–
RWX	Exit	SPDR DJ WILSHIRE INTL REAL ESTetf	$0	–	-18,728	–	-0.24%	–
DIA	Exit	SPDR DOW JONES INDUSTRIAL ETFetf	$0	–	-5,846	–	-0.31%	–
GWX	Exit	SPDR S&P INTERNATIONAL SMALL CAP ETFetf	$0	–	-33,751	–	-0.35%	–
SCHE	Exit	SCHWAB EMERGING MARKETS EQUITY ETFetf	$0	–	-46,715	–	-0.38%	–
EEM	Exit	ISHARES MSCI EMERGING MARKETS ETFetf	$0	–	-29,102	–	-0.38%	–
VB	Exit	VANGUARD SMALL CAP ETFetf	$0	–	-12,842	–	-0.45%	–
SCHA	Exit	SCHWAB U.S. SMALL-CAP ETFetf	$0	–	-27,673	–	-0.45%	–
QQQ	Exit	POWERSHARES QQQ TRetf	$0	–	-18,868	–	-0.59%	–
VIG	Exit	VANGUARD DIVIDEND APPRECIATION ETFetf	$0	–	-30,929	–	-0.75%	–
SCHM	Exit	SCHWAB U.S. MID-CAP ETFetf	$0	–	-84,179	–	-1.03%	–
IFGL	Exit	ISHARES FTSE EPRA/NAREIT DEVELOPED REAL ESTATE EX-US INDEX FUNDetf	$0	–	-114,767	–	-1.09%	–
SCHF	Exit	SCHWAB INTERNATIONAL EQUITY ETFetf	$0	–	-124,229	–	-1.22%	–
EFA	Exit	ISHARES MSCI EAFE ETFetf	$0	–	-106,241	–	-2.15%	–
DJP	Exit	IPATH DJ-UBS COMMODITY TOTAL RETURN ETNetf	$0	–	-254,571	–	-2.77%	–
IWB	Exit	ISHARES TR RUSSELL 1000 INDEX ETFetf	$0	–	-81,955	–	-2.85%	–
RWO	Exit	SPDR DOW JONES GLOBAL REAL ESTATE ETFetf	$0	–	-207,952	–	-2.92%	–
VNQ	Exit	VANGUARD REIT INDEX ETFetf	$0	–	-180,192	–	-4.09%	–
IVV	Exit	ISHARES S&P 500 INDEXetf	$0	–	-69,867	–	-4.38%	–
IWM	Exit	ISHARES RUSSELL 2000 ETFetf	$0	–	-150,735	–	-5.21%	–
VWO	Exit	VANGUARD FTSE EMERGING MARKETS ETFetf	$0	–	-448,511	–	-5.92%	–
VO	Exit	VANGUARD MID CAPetf	$0	–	-238,845	–	-8.86%	–
VEA	Exit	VANGUARD FTSE DEVELOPED MARKETS ETFetf	$0	–	-1,313,778	–	-16.51%	–
SPY	Exit	SPDR S&P 500 ETFetf	$0	–	-583,204	–	-36.34%	–

Q3 2014

			Value		Shares		↓ Weighting
SPY	Sell	SPDR S&P 500 ETFetf	$114,903,000	-2.4%	583,204	-3.0%	36.34%	+0.3%
VEA	Buy	VANGUARD FTSE DEVELOPED MARKETS ETFetf	$52,223,000	-5.9%	1,313,778	+0.8%	16.51%	-3.2%
VO	Sell	VANGUARD MID CAPetf	$28,019,000	-1.9%	238,845	-0.8%	8.86%	+0.9%
VWO	Buy	VANGUARD FTSE EMERGING MARKETS ETFetf	$18,707,000	-2.6%	448,511	+0.7%	5.92%	+0.1%
IWM	Sell	ISHARES RUSSELL 2000 ETFetf	$16,483,000	-9.9%	150,735	-2.1%	5.21%	-7.4%
IVV	Sell	ISHARES S&P 500 INDEXetf	$13,852,000	+0.3%	69,867	-0.4%	4.38%	+3.1%
VNQ	Sell	VANGUARD REIT INDEX ETFetf	$12,947,000	-22.6%	180,192	-19.3%	4.09%	-20.4%
RWO	Buy	SPDR DOW JONES GLOBAL REAL ESTATE ETFetf	$9,219,000	+542.4%	207,952	+575.8%	2.92%	+561.0%
IWB	Sell	ISHARES TR RUSSELL 1000 INDEX ETFetf	$9,004,000	-1.4%	81,955	-1.1%	2.85%	+1.4%
DJP	Sell	IPATH DJ-UBS COMMODITY TOTAL RETURN ETNetf	$8,750,000	-30.7%	254,571	-20.5%	2.77%	-28.8%
EFA	Buy	ISHARES MSCI EAFE ETFetf	$6,812,000	-4.0%	106,241	+2.4%	2.15%	-1.3%
SCHF	Buy	SCHWAB INTERNATIONAL EQUITY ETFetf	$3,854,000	+4.5%	124,229	+11.1%	1.22%	+7.5%
IFGL	Sell	ISHARES FTSE EPRA/NAREIT DEVELOPED REAL ESTATE EX-US INDEX FUNDetf	$3,448,000	-10.3%	114,767	-4.1%	1.09%	-7.8%
SCHM	Buy	SCHWAB U.S. MID-CAP ETFetf	$3,258,000	+18.1%	84,179	+22.8%	1.03%	+21.3%
VIG	Sell	VANGUARD DIVIDEND APPRECIATION ETFetf	$2,380,000	-4.8%	30,929	-3.5%	0.75%	-2.1%
QQQ	Sell	POWERSHARES QQQ TRetf	$1,864,000	+4.5%	18,868	-0.6%	0.59%	+7.5%
SCHA	Buy	SCHWAB U.S. SMALL-CAP ETFetf	$1,422,000	+23.8%	27,673	+32.0%	0.45%	+27.5%
EEM	Buy	ISHARES MSCI EMERGING MARKETS ETFetf	$1,209,000	-3.1%	29,102	+0.8%	0.38%	-0.5%
SCHE	Buy	SCHWAB EMERGING MARKETS EQUITY ETFetf	$1,187,000	+19.1%	46,715	+21.9%	0.38%	+22.1%
GWX	Sell	SPDR S&P INTERNATIONAL SMALL CAP ETFetf	$1,103,000	-8.8%	33,751	-1.5%	0.35%	-6.2%
DIA	Sell	SPDR DOW JONES INDUSTRIAL ETFetf	$994,000	+1.2%	5,846	-0.1%	0.31%	+4.0%
RWX	Buy	SPDR DJ WILSHIRE INTL REAL ESTetf	$776,000	-5.3%	18,728	+1.2%	0.24%	-2.8%
RWR	Buy	SPDR DJ WILSHIRE REIT (ETF)etf	$713,000	-2.2%	8,933	+1.6%	0.22%	+0.4%
GLD	Sell	SPDR GOLD ETFetf	$555,000	-15.7%	4,777	-7.0%	0.18%	-12.9%
DVY	Buy	ISHARES DJ SELECT DIVIDENDetf	$468,000	-3.3%	6,336	+0.8%	0.15%	-0.7%
VTI	Sell	VANGUARD TOTAL STK MKTetf	$341,000	-2.0%	3,372	-1.4%	0.11%	+0.9%
VYM	Buy	VANGUARD HIGH DIVIDEND YIELDetf	$322,000	+0.9%	4,843	+0.7%	0.10%	+4.1%

Q2 2014

			Value		Shares		↓ Weighting
SPY	New	SPDR S&P 500 ETFetf	$117,720,000	–	601,474	–	36.21%	–
VEA	New	VANGUARD FTSE DEVELOPED MARKETS ETFetf	$55,491,000	–	1,302,914	–	17.07%	–
VO	New	VANGUARD MID CAPetf	$28,559,000	–	240,662	–	8.78%	–
VWO	New	VANGUARD FTSE EMERGING MARKETS ETFetf	$19,211,000	–	445,430	–	5.91%	–
IWM	New	ISHARES RUSSELL 2000 ETFetf	$18,293,000	–	153,967	–	5.63%	–
VNQ	New	VANGUARD REIT INDEX ETFetf	$16,720,000	–	223,410	–	5.14%	–
IVV	New	ISHARES S&P 500 INDEXetf	$13,813,000	–	70,119	–	4.25%	–
DJP	New	IPATH DJ-UBS COMMODITY TOTAL RETURN ETNetf	$12,635,000	–	320,367	–	3.89%	–
IWB	New	ISHARES TR RUSSELL 1000 INDEX ETFetf	$9,128,000	–	82,902	–	2.81%	–
EFA	New	ISHARES MSCI EAFE ETFetf	$7,094,000	–	103,752	–	2.18%	–
IFGL	New	ISHARES TR FTSE EPRA/NAREIT GLOBAL REAL ESTATE EX-USetf	$3,843,000	–	119,618	–	1.18%	–
SCHF	New	SCHWAB INTERNATIONAL EQUITY ETFetf	$3,687,000	–	111,807	–	1.13%	–
SCHM	New	SCHWAB US MID-CAP ETFetf	$2,759,000	–	68,567	–	0.85%	–
VIG	New	VANGUARD DIVIDEND APPRECIATION ETFetf	$2,499,000	–	32,064	–	0.77%	–
QQQ	New	POWERSHARES QQQ TRetf	$1,783,000	–	18,988	–	0.55%	–
VB	New	VANGUARD SMALL CAP ETFetf	$1,504,000	–	12,842	–	0.46%	–
RWO	New	SPDR DJ GLOBAL REAL ESTATE ETFetf	$1,435,000	–	30,771	–	0.44%	–
EEM	New	ISHARES MSCI EMERGING MARKETS ETFetf	$1,248,000	–	28,878	–	0.38%	–
GWX	New	SPDR INDEX SHS FDS S&P INTL SMALL CAP ETFetf	$1,209,000	–	34,272	–	0.37%	–
SCHA	New	SCHWAB ETFS- US SMALL-CAP ETFetf	$1,149,000	–	20,957	–	0.35%	–
SCHE	New	SCHWAB EMERGING MARKET EQ ETFetf	$997,000	–	38,309	–	0.31%	–
DIA	New	SPDR DOW JONES INDUSTRIAL ETFetf	$982,000	–	5,852	–	0.30%	–
RWX	New	SPDR DJ WILSHIRE INTL REAL ESTetf	$819,000	–	18,504	–	0.25%	–
RWR	New	SPDR DJ WILSHIRE REIT (ETF)etf	$729,000	–	8,789	–	0.22%	–
GLD	New	SPDR GOLD ETFetf	$658,000	–	5,138	–	0.20%	–
DVY	New	ISHARES DJ SELECT DIVIDENDetf	$484,000	–	6,288	–	0.15%	–
VTI	New	VANGUARD TOTAL STK MKTetf	$348,000	–	3,421	–	0.11%	–
VYM	New	VANGUARD HIGH DIVIDEND YIELDetf	$319,000	–	4,810	–	0.10%	–

Q4 2013

			Value		Shares		↓ Weighting
SCHE	Exit	SCHWAB EMERGING MARKET EQ ETFetf	$0	–	-9,864	–	-0.09%	–
VYM	Exit	VANGUARD HIGH DIVIDEND YIELDetf	$0	–	-4,708	–	-0.10%	–
VTI	Exit	VANGUARD TOTAL STK MKTetf	$0	–	-3,308	–	-0.11%	–
DVY	Exit	ISHARES DJ SELECT DIVIDEND ETFetf	$0	–	-6,141	–	-0.15%	–
SCHA	Exit	SCHWAB ETFS- US SMALL-CAP ETFetf	$0	–	-12,157	–	-0.22%	–
RWR	Exit	SPDR DJ WILSHIRE REIT (ETF)etf	$0	–	-8,571	–	-0.23%	–
RWX	Exit	SPDR DJ WILSHIRE INTL REAL ESTetf	$0	–	-17,889	–	-0.28%	–
EEM	Exit	ISHARES MSCI EMERGING MARKETS ETFetf	$0	–	-20,441	–	-0.31%	–
GWX	Exit	SPDR INDEX SHS FDS S&P INTL SMALL CAP ETFetf	$0	–	-33,605	–	-0.40%	–
DIA	Exit	SPDR DOW JONES INDUSTRIAL ETFetf	$0	–	-7,644	–	-0.42%	–
SCHM	Exit	SCHWAB US MID-CAP ETFetf	$0	–	-35,884	–	-0.46%	–
VB	Exit	VANGUARD SMALL CAP ETFetf	$0	–	-12,677	–	-0.48%	–
JJATF	Exit	IPATH DJ-UBS AGRICULTURE TR SUB-IDX ETNetf	$0	–	-28,746	–	-0.52%	–
GLD	Exit	SPDR GOLD ETFetf	$0	–	-11,993	–	-0.56%	–
QQQ	Exit	POWERSHARES QQQ TRetf	$0	–	-20,058	–	-0.58%	–
DJP	Exit	IPATH DJ-UBS COMMODITY TOTAL RETURN ETNetf	$0	–	-53,379	–	-0.73%	–
SCHF	Exit	SCHWAB STRATEGIC TR INTL EQTY ETFetf	$0	–	-67,957	–	-0.76%	–
VIG	Exit	VANGUARD DIVIDEND APPRECIATION ETFetf	$0	–	-31,166	–	-0.80%	–
IFGL	Exit	ISHARES TR FTSE EPRA/NAREIT GLOBAL REAL ESTATE EX-USetf	$0	–	-108,381	–	-1.33%	–
EFA	Exit	ISHARES MSCI EAFE ETFetf	$0	–	-101,092	–	-2.37%	–
IWB	Exit	ISHARES TR RUSSELL 1000 INDEX ETFetf	$0	–	-85,170	–	-2.94%	–
IVV	Exit	ISHARES S&P 500 INDEX ETFetf	$0	–	-62,684	–	-3.89%	–
VNQ	Exit	VANGUARD REIT INDEXetf	$0	–	-210,449	–	-5.11%	–
VWO	Exit	VANGUARD FTSE EMERGING MARKETS ETFetf	$0	–	-412,930	–	-6.08%	–
IWM	Exit	ISHARES RUSSELL 2000 ETFetf	$0	–	-156,595	–	-6.13%	–
VO	Exit	VANGUARD MID CAPetf	$0	–	-245,121	–	-9.22%	–
VEA	Exit	VANGUARD FTSE DEVELOPED MARKETS ETFetf	$0	–	-1,291,030	–	-18.75%	–
SPY	Exit	SPDR S&P 500 ETFetf	$0	–	-600,061	–	-37.00%	–

Q3 2013

			Value		Shares		↓ Weighting
SPY	Sell	SPDR S&P 500 ETFetf	$100,816,000	+1.9%	600,061	-2.7%	37.00%	-3.3%
VEA	Buy	VANGUARD FTSE DEVELOPED MARKETS ETFetf	$51,099,000	+11.5%	1,291,030	+0.3%	18.75%	+5.8%
VO	Sell	VANGUARD MID CAPetf	$25,120,000	+4.4%	245,121	-3.1%	9.22%	-1.0%
IWM	Sell	ISHARES RUSSELL 2000 ETFetf	$16,695,000	+7.6%	156,595	-2.1%	6.13%	+2.0%
VWO	Buy	VANGUARD FTSE EMERGING MARKETS ETFetf	$16,573,000	+8.0%	412,930	+4.4%	6.08%	+2.4%
VNQ	Buy	VANGUARD REIT INDEXetf	$13,919,000	-3.7%	210,449	+0.0%	5.11%	-8.7%
IVV	Buy	ISHARES S&P 500 INDEX ETFetf	$10,587,000	+8.8%	62,684	+3.7%	3.89%	+3.2%
IWB	Sell	ISHARES TR RUSSELL 1000 INDEX ETFetf	$8,020,000	+4.2%	85,170	-0.4%	2.94%	-1.1%
EFA	Buy	ISHARES MSCI EAFE ETFetf	$6,450,000	+14.0%	101,092	+2.4%	2.37%	+8.1%
IFGL	Sell	ISHARES TR FTSE EPRA/NAREIT GLOBAL REAL ESTATE EX-USetf	$3,633,000	-5.4%	108,381	-11.5%	1.33%	-10.3%
VIG	Buy	VANGUARD DIVIDEND APPRECIATION ETFetf	$2,170,000	+7.1%	31,166	+1.8%	0.80%	+1.5%
SCHF	Buy	SCHWAB STRATEGIC TR INTL EQTY ETFetf	$2,065,000	+23.0%	67,957	+10.2%	0.76%	+16.6%
DJP	Buy	IPATH DJ-UBS COMMODITY TOTAL RETURN ETNetf	$1,989,000	+278.9%	53,379	+271.2%	0.73%	+259.6%
QQQ	Sell	POWERSHARES QQQ TRetf	$1,582,000	-19.7%	20,058	-27.4%	0.58%	-23.8%
GLD	Buy	SPDR GOLD ETFetf	$1,537,000	+11.3%	11,993	+3.4%	0.56%	+5.6%
SCHM	Buy	SCHWAB US MID-CAP ETFetf	$1,242,000	+41.9%	35,884	+31.1%	0.46%	+34.5%
DIA	Sell	SPDR DOW JONES INDUSTRIAL ETFetf	$1,154,000	-1.3%	7,644	-2.9%	0.42%	-6.2%
GWX	Buy	SPDR INDEX SHS FDS S&P INTL SMALL CAP ETFetf	$1,099,000	+14.1%	33,605	+0.7%	0.40%	+8.0%
EEM	Buy	ISHARES MSCI EMERGING MARKETS ETFetf	$833,000	+7.2%	20,441	+1.3%	0.31%	+1.7%
RWX	Buy	SPDR DJ WILSHIRE INTL REAL ESTetf	$754,000	+7.1%	17,889	+1.4%	0.28%	+1.8%
RWR	Buy	SPDR DJ WILSHIRE REIT (ETF)etf	$625,000	-1.1%	8,571	+3.0%	0.23%	-6.5%
SCHA	Buy	SCHWAB ETFS- US SMALL-CAP ETFetf	$586,000	+59.2%	12,157	+45.5%	0.22%	+51.4%
DVY	Buy	ISHARES DJ SELECT DIVIDEND ETFetf	$407,000	+4.4%	6,141	+0.8%	0.15%	-1.3%
VTI	Buy	VANGUARD TOTAL STK MKTetf	$290,000	+7.4%	3,308	+1.3%	0.11%	+1.9%
VYM	Buy	VANGUARD HIGH DIVIDEND YIELDetf	$271,000	+3.4%	4,708	+1.5%	0.10%	-2.0%
SCHE	New	SCHWAB EMERGING MARKET EQ ETFetf	$243,000	–	9,864	–	0.09%	–
GXC	Exit	SPDR INDEX SHS FDS S&P CHINA ETFetf	$0	–	-3,355	–	-0.08%	–
EWH	Exit	ISHARES INC MSCI HONG KONG INDEX FDetf	$0	–	-13,440	–	-0.10%	–
EWJ	Exit	ISHARES MSCI JAPAN ETFetf	$0	–	-25,540	–	-0.11%	–

Q2 2013

			Value		Shares		↓ Weighting
SPY	New	SPDR S&P 500 ETFetf	$98,898,000	–	616,495	–	38.27%	–
VEA	New	VANGUARD FTSE DEVELOPED MARKETS ETFetf	$45,816,000	–	1,286,974	–	17.73%	–
VO	New	VANGUARD MID CAPetf	$24,067,000	–	252,960	–	9.31%	–
IWM	New	ISHARES RUSSELL 2000 ETFetf	$15,514,000	–	159,943	–	6.00%	–
VWO	New	VANGUARD FTSE EMERGING MARKETS ETFetf	$15,352,000	–	395,715	–	5.94%	–
VNQ	New	VANGUARD REIT INDEXetf	$14,457,000	–	210,369	–	5.60%	–
IVV	New	ISHARES S&P 500 INDEX ETFetf	$9,728,000	–	60,466	–	3.76%	–
IWB	New	ISHARES TR RUSSELL 1000 INDEX ETFetf	$7,694,000	–	85,552	–	2.98%	–
EFA	New	ISHARES MSCI EAFE ETFetf	$5,657,000	–	98,729	–	2.19%	–
IFGL	New	ISHARES TR FTSE EPRA/NAREIT GLOBAL REAL ESTATE EX-USetf	$3,840,000	–	122,533	–	1.49%	–
VIG	New	VANGUARD DIVIDEND APPRECIATION ETFetf	$2,026,000	–	30,602	–	0.78%	–
QQQ	New	POWERSHARES QQQ TRetf	$1,970,000	–	27,635	–	0.76%	–
SCHF	New	SCHWAB STRATEGIC TR INTL EQTY ETFetf	$1,679,000	–	61,642	–	0.65%	–
JJATF	New	IPATH DJ-UBS AGRICULTURE TR SUB-IDX ETNetf	$1,457,000	–	28,746	–	0.56%	–
GLD	New	SPDR GOLD ETFetf	$1,381,000	–	11,595	–	0.53%	–
VB	New	VANGUARD SMALL CAP ETFetf	$1,188,000	–	12,677	–	0.46%	–
DIA	New	SPDR DOW JONES INDUSTRIAL ETFetf	$1,169,000	–	7,869	–	0.45%	–
GWX	New	SPDR INDEX SHS FDS S&P INTL SMALL CAP ETFetf	$963,000	–	33,381	–	0.37%	–
SCHM	New	SCHWAB US MID-CAP ETFetf	$875,000	–	27,367	–	0.34%	–
EEM	New	ISHARES MSCI EMERGING MARKETS ETFetf	$777,000	–	20,177	–	0.30%	–
RWX	New	SPDR DJ WILSHIRE INTL REAL ESTetf	$704,000	–	17,644	–	0.27%	–
RWR	New	SPDR DJ WILSHIRE REIT (ETF)etf	$632,000	–	8,318	–	0.24%	–
DJP	New	IPATH DJ-UBS COMMODITY TOTAL RETURN ETNetf	$525,000	–	14,379	–	0.20%	–
DVY	New	ISHARES DJ SELECT DIVIDEND ETFetf	$390,000	–	6,090	–	0.15%	–
SCHA	New	SCHWAB ETFS- US SMALL-CAP ETFetf	$368,000	–	8,354	–	0.14%	–
EWJ	New	ISHARES MSCI JAPAN ETFetf	$287,000	–	25,540	–	0.11%	–
VTI	New	VANGUARD TOTAL STK MKTetf	$270,000	–	3,267	–	0.10%	–
VYM	New	VANGUARD HIGH DIVIDEND YIELDetf	$262,000	–	4,640	–	0.10%	–
EWH	New	ISHARES INC MSCI HONG KONG INDEX FDetf	$246,000	–	13,440	–	0.10%	–
GXC	New	SPDR INDEX SHS FDS S&P CHINA ETFetf	$215,000	–	3,355	–	0.08%	–

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