Pictet North America Advisors SA Activity Q4 2013-Q3 2023

Q3 2023

			Value		Shares		↓ Weighting
EWJ	Sell	ISHARES INCmsci jpn etf new	$48,398,159	-12.4%	802,756	-10.1%	6.88%	-10.2%
MSFT	Sell	MICROSOFT CORP	$28,711,463	-29.0%	90,931	-23.4%	4.08%	-27.2%
GLD	Sell	SPDR GOLD TR	$28,053,849	-3.9%	163,627	-0.0%	3.98%	-1.4%
GOOGL	Sell	ALPHABET INCcap stk cl a	$20,926,608	-18.2%	159,916	-25.1%	2.97%	-16.1%
AMZN	Sell	AMAZON COM INC	$19,871,653	-14.4%	156,322	-12.2%	2.82%	-12.2%
UNH	Sell	UNITEDHEALTH GROUP INC	$19,711,308	-23.6%	39,095	-27.2%	2.80%	-21.7%
AAPL	Sell	APPLE INC	$19,146,414	-30.8%	111,830	-21.7%	2.72%	-29.1%
UBS	Sell	UBS GROUP AG	$17,658,684	+19.1%	711,945	-2.9%	2.51%	+22.1%
ALC	Sell	ALCON AG	$17,651,704	-8.4%	227,624	-2.1%	2.51%	-6.0%
IEF	Sell	ISHARES TR7-10 yr trsy bd	$16,824,076	-26.5%	183,689	-22.5%	2.39%	-24.7%
TSM	Sell	TAIWAN SEMICONDUCTOR MFG LTDsponsored ads	$16,622,927	-13.9%	191,288	-0.1%	2.36%	-11.8%
V	Sell	VISA INC	$16,052,858	-28.8%	69,792	-26.5%	2.28%	-27.0%
EEM	Buy	ISHARES TRmsci emg mkt etf	$14,520,277	+37.0%	382,616	+42.8%	2.06%	+40.5%
VT	New	VANGUARD INTL EQUITY INDEX Ftt wrld st etf	$14,348,602	–	153,988	–	2.04%	–
EWL	Buy	ISHARES INCmsci switzerland	$12,732,330	-5.2%	292,227	+0.6%	1.81%	-2.7%
JPM	Sell	JPMORGAN CHASE & CO	$11,517,343	-15.4%	79,419	-15.2%	1.64%	-13.3%
CVX	Buy	CHEVRON CORP NEW	$9,502,411	+52.4%	56,354	+42.2%	1.35%	+56.2%
TMO	Buy	THERMO FISHER SCIENTIFIC INC	$8,397,360	+31.6%	16,590	+35.7%	1.19%	+35.0%
SPGI	Buy	S&P GLOBAL INC	$8,386,525	+61.0%	22,951	+76.6%	1.19%	+65.0%
XLV	Sell	SELECT SECTOR SPDR TRsbi healthcare	$8,377,241	-34.8%	65,071	-32.8%	1.19%	-33.1%
SPY	Sell	SPDR S&P 500 ETF TRtr unit	$8,177,265	-13.3%	19,129	-10.1%	1.16%	-11.1%
PM	Buy	PHILIP MORRIS INTL INC	$7,804,957	+67.7%	84,305	+76.8%	1.11%	+71.9%
SLB	Buy	SCHLUMBERGER LTD	$7,485,254	+262.1%	128,392	+205.1%	1.06%	+271.7%
CME	Buy	CME GROUP INC	$7,354,681	+73.9%	36,733	+60.9%	1.04%	+78.3%
LOGI	Sell	LOGITECH INTL S A	$7,328,794	+16.2%	105,947	-0.0%	1.04%	+19.1%
VCSH	Buy	VANGUARD SCOTTSDALE FDSshrt trm corp bd	$7,186,444	+188.6%	95,628	+190.5%	1.02%	+195.9%
XLP	Buy	SELECT SECTOR SPDR TRsbi cons stpls	$7,154,313	+69.6%	103,972	+82.8%	1.02%	+74.0%
	Buy	HARBOR ETF TRUSTscientific high	$6,871,889	+201.6%	160,022	+205.4%	0.98%	+208.9%
MCD	Buy	MCDONALDS CORP	$6,742,220	-0.9%	25,593	+12.3%	0.96%	+1.7%
GOLD	Buy	BARRICK GOLD CORP	$6,527,465	-14.0%	448,623	+0.1%	0.93%	-11.8%
FB	Buy	META PLATFORMS INCcl a	$6,427,196	+24.0%	21,409	+18.5%	0.91%	+27.2%
VCIT	Buy	VANGUARD SCOTTSDALE FDSint-term corp	$6,191,154	+65.7%	81,484	+72.4%	0.88%	+70.0%
MA	Buy	MASTERCARD INCORPORATEDcl a	$5,590,249	+3.2%	14,120	+2.6%	0.79%	+5.9%
MU	Sell	MICRON TECHNOLOGY INC	$5,475,258	+1.2%	80,483	-6.1%	0.78%	+3.7%
AZN	Sell	ASTRAZENECA PLCsponsored adr	$5,371,483	-47.9%	79,319	-44.9%	0.76%	-46.6%
TTE	Buy	TOTALENERGIES SEsponsored ads	$5,094,230	+610.0%	77,467	+522.3%	0.72%	+631.3%
INDA	Sell	ISHARES TRmsci india etf	$4,902,539	-35.7%	110,867	-36.4%	0.70%	-34.1%
CSCO	Sell	CISCO SYS INC	$4,485,573	+3.4%	83,437	-0.4%	0.64%	+6.0%
BSX	Sell	BOSTON SCIENTIFIC CORP	$4,239,682	-11.3%	80,297	-9.1%	0.60%	-9.1%
CNYA	Sell	ISHARES TRmsci china a	$4,130,837	-21.2%	146,302	-18.6%	0.59%	-19.1%
VWOB	Buy	VANGUARD WHITEHALL FDSem mk gov bd etf	$4,111,620	+95.4%	69,500	+105.6%	0.58%	+100.0%
FAST	Sell	FASTENAL CO	$4,101,879	-9.0%	75,071	-1.8%	0.58%	-6.7%
PEP	Sell	PEPSICO INC	$4,094,687	-8.7%	24,166	-0.2%	0.58%	-6.3%
EOG	Sell	EOG RES INC	$4,006,630	-17.9%	31,608	-25.8%	0.57%	-15.8%
VGK	Sell	VANGUARD INTL EQUITY INDEX Fftse europe etf	$3,866,074	-68.9%	66,737	-66.8%	0.55%	-68.1%
HD	Sell	HOME DEPOT INC	$3,729,259	-9.3%	12,342	-6.7%	0.53%	-6.9%
BLK	Buy	BLACKROCK INC	$3,593,191	+71.3%	5,558	+83.1%	0.51%	+75.3%
TJX	Sell	TJX COS INC NEW	$3,386,239	+4.4%	38,099	-0.4%	0.48%	+7.1%
GOOG	Sell	ALPHABET INCcap stk cl c	$3,083,312	+7.8%	23,385	-1.1%	0.44%	+10.6%
ORCL	Sell	ORACLE CORP	$3,056,428	-12.5%	28,856	-1.6%	0.43%	-10.3%
LEMB	New	ISHARES INCjp morgan em etf	$3,005,933	–	86,303	–	0.43%	–
AWK	Sell	AMERICAN WTR WKS CO INC NEW	$2,951,736	-13.5%	23,837	-0.3%	0.42%	-11.4%
VSS	Buy	VANGUARD INTL EQUITY INDEX Fftse smcap etf	$2,518,108	+168.1%	23,711	+178.9%	0.36%	+175.4%
EWQ	Buy	ISHARES INCmsci france etf	$2,304,239	+12.2%	64,744	+21.5%	0.33%	+14.7%
ALGN	Sell	ALIGN TECHNOLOGY INC	$2,233,110	-15.4%	7,314	-2.0%	0.32%	-13.4%
DHR	Sell	DANAHER CORPORATION	$2,204,120	-39.0%	8,884	-41.0%	0.31%	-37.5%
AMD	Sell	ADVANCED MICRO DEVICES INC	$2,176,802	-13.0%	21,171	-3.6%	0.31%	-11.0%
CB	Sell	CHUBB LIMITED	$1,974,587	+7.8%	9,485	-0.3%	0.28%	+10.2%
IGF	Buy	ISHARES TRglb infrastr etf	$1,906,925	+12.5%	44,050	+22.0%	0.27%	+15.3%
EWT	Buy	ISHARES INCmsci taiwan etf	$1,871,501	-4.7%	42,009	+0.5%	0.27%	-2.2%
JCI	Sell	JOHNSON CTLS INTL PLC	$1,781,896	-40.5%	33,488	-23.8%	0.25%	-39.0%
ICE	Buy	INTERCONTINENTAL EXCHANGE IN	$1,767,801	+16.1%	16,068	+19.4%	0.25%	+19.0%
PG	Buy	PROCTER AND GAMBLE CO	$1,743,610	-3.0%	11,954	+1.0%	0.25%	-0.4%
EQIX	Sell	EQUINIX INC	$1,748,834	-8.4%	2,408	-1.1%	0.25%	-6.1%
RSP	Sell	INVESCO EXCHANGE TRADED FD Ts&p500 eql wgt	$1,585,936	-58.8%	11,193	-56.4%	0.22%	-57.8%
IXN	New	ISHARES TRglobal tech etf	$1,583,486	–	27,377	–	0.22%	–
ACWI	Buy	ISHARES TRmsci acwi etf	$1,532,880	+14.2%	16,595	+18.6%	0.22%	+17.2%
LYB	Buy	LYONDELLBASELL INDUSTRIES N	$1,516,999	+4.2%	16,019	+1.1%	0.22%	+6.4%
EWG	Sell	ISHARES INCmsci germany etf	$1,323,152	-12.2%	50,502	-4.3%	0.19%	-10.0%
VOO	Sell	VANGUARD INDEX FDS	$1,256,247	-53.2%	3,199	-51.5%	0.18%	-52.2%
ZTS	Sell	ZOETIS INCcl a	$1,003,343	-2.0%	5,767	-3.0%	0.14%	+0.7%
QQQ	Sell	INVESCO QQQ TRunit ser 1	$888,868	-47.8%	2,481	-46.2%	0.13%	-46.6%
EIDO	Buy	ISHARES TRmsci indonia etf	$871,314	+0.5%	39,125	+4.0%	0.12%	+3.3%
HDB	Sell	HDFC BANK LTDsponsored ads	$785,659	-61.1%	13,314	-54.0%	0.11%	-59.9%
MRK	Sell	MERCK & CO INC	$759,256	-14.3%	7,375	-3.9%	0.11%	-12.2%
NVDA	New	NVIDIA CORPORATION	$640,305	–	1,472	–	0.09%	–
DEO	Sell	DIAGEO PLCspon adr new	$627,899	-17.4%	4,209	-3.9%	0.09%	-15.2%
XLE	Sell	SELECT SECTOR SPDR TRenergy	$565,209	-64.7%	6,253	-68.3%	0.08%	-64.0%
JNJ	Sell	JOHNSON & JOHNSON	$552,913	-10.0%	3,550	-4.3%	0.08%	-7.1%
XLK	Sell	SELECT SECTOR SPDR TRtechnology	$522,445	-24.6%	3,187	-20.1%	0.07%	-22.9%
INCO	Buy	COLUMBIA ETF TR IIindia consmr etf	$511,834	+1.9%	9,670	+0.8%	0.07%	+4.3%
VNM	Buy	VANECK ETF TRUSTvaneck vietnam	$498,407	+2.4%	36,810	+0.5%	0.07%	+6.0%
THD	Buy	ISHARES INCmsci thailnd etf	$441,054	-4.1%	7,058	+1.0%	0.06%	-1.6%
CBRE	Sell	CBRE GROUP INCcl a	$342,046	-52.1%	4,631	-47.7%	0.05%	-50.5%
COST	Buy	COSTCO WHSL CORP NEW	$298,864	+46.5%	529	+39.6%	0.04%	+50.0%
CQQQ	Buy	INVESCO EXCH TRADED FD TR IIchina technlgy	$266,504	-7.7%	7,362	+1.1%	0.04%	-5.0%
PFE	Sell	PFIZER INC	$254,580	-35.0%	7,675	-28.1%	0.04%	-33.3%
ISRG	Sell	INTUITIVE SURGICAL INC	$247,277	-23.6%	846	-10.6%	0.04%	-22.2%
EPHE	Buy	ISHARES TRmsci philips etf	$210,240	-3.6%	8,440	+0.7%	0.03%	0.0%
IYJ	Exit	ISHARES TRus industrials	$0	–	-1,891	–	-0.03%	–
VGT	Exit	VANGUARD WORLD FDSinf tech etf	$0	–	-478	–	-0.03%	–
ZBH	Exit	ZIMMER BIOMET HOLDINGS INC	$0	–	-1,477	–	-0.03%	–
AN	Exit	AUTONATION INC	$0	–	-1,320	–	-0.03%	–
CI	Exit	THE CIGNA GROUP	$0	–	-1,061	–	-0.04%	–
ABT	Exit	ABBOTT LABS	$0	–	-3,189	–	-0.05%	–
DIA	Exit	SPDR DOW JONES INDL AVERAGEut ser 1	$0	–	-1,160	–	-0.06%	–
MRNA	Exit	MODERNA INC	$0	–	-5,430	–	-0.09%	–

Q2 2023

			Value		Shares		↓ Weighting
BUR	New	BURFORD CAP LTD	$93,194,358	–	7,647,727	–	12.91%	–
EWJ	New	ISHARES INCmsci jpn etf new	$55,265,929	–	892,826	–	7.66%	–
MSFT	New	MICROSOFT CORP	$40,425,163	–	118,709	–	5.60%	–
GLD	New	SPDR GOLD TR	$29,181,373	–	163,692	–	4.04%	–
AAPL	New	APPLE INC	$27,687,278	–	142,740	–	3.84%	–
UNH	New	UNITEDHEALTH GROUP INC	$25,812,291	–	53,704	–	3.58%	–
GOOGL	New	ALPHABET INCcap stk cl a	$25,569,476	–	213,613	–	3.54%	–
AMZN	New	AMAZON COM INC	$23,203,819	–	177,998	–	3.21%	–
IEF	New	ISHARES TR7-10 yr trsy bd	$22,903,377	–	237,095	–	3.17%	–
V	New	VISA INC	$22,545,876	–	94,938	–	3.12%	–
TSM	New	TAIWAN SEMICONDUCTOR MFG LTDsponsored ads	$19,317,299	–	191,412	–	2.68%	–
ALC	New	ALCON AG	$19,260,261	–	232,537	–	2.67%	–
UBS	New	UBS GROUP AG	$14,825,290	–	732,981	–	2.05%	–
JPM	New	JPMORGAN CHASE & CO	$13,619,729	–	93,645	–	1.89%	–
EWL	New	ISHARES INCmsci switzerland	$13,426,269	–	290,549	–	1.86%	–
XLV	New	SELECT SECTOR SPDR TRsbi healthcare	$12,852,379	–	96,831	–	1.78%	–
VGK	New	VANGUARD INTL EQUITY INDEX Fftse europe etf	$12,418,112	–	201,266	–	1.72%	–
EEM	New	ISHARES TRmsci emg mkt etf	$10,598,915	–	267,920	–	1.47%	–
AZN	New	ASTRAZENECA PLCsponsored adr	$10,307,368	–	144,018	–	1.43%	–
SPY	New	SPDR S&P 500 ETF TRtr unit	$9,436,988	–	21,289	–	1.31%	–
INDA	New	ISHARES TRmsci india etf	$7,622,373	–	174,425	–	1.06%	–
GOLD	New	BARRICK GOLD CORP	$7,587,569	–	448,173	–	1.05%	–
MCD	New	MCDONALDS CORP	$6,800,465	–	22,789	–	0.94%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$6,379,959	–	12,228	–	0.88%	–
LOGI	New	LOGITECH INTL S A	$6,307,643	–	105,993	–	0.87%	–
CVX	New	CHEVRON CORP NEW	$6,235,151	–	39,626	–	0.86%	–
MU	New	MICRON TECHNOLOGY INC	$5,411,493	–	85,747	–	0.75%	–
MA	New	MASTERCARD INCORPORATEDcl a	$5,414,954	–	13,768	–	0.75%	–
CNYA	New	ISHARES TRmsci china a	$5,242,771	–	179,670	–	0.73%	–
SPGI	New	S&P GLOBAL INC	$5,208,764	–	12,993	–	0.72%	–
FB	New	META PLATFORMS INCcl a	$5,185,155	–	18,068	–	0.72%	–
EOG	New	EOG RES INC	$4,877,891	–	42,624	–	0.68%	–
BSX	New	BOSTON SCIENTIFIC CORP	$4,777,283	–	88,321	–	0.66%	–
PM	New	PHILIP MORRIS INTL INC	$4,655,107	–	47,686	–	0.64%	–
FAST	New	FASTENAL CO	$4,508,842	–	76,434	–	0.62%	–
PEP	New	PEPSICO INC	$4,486,214	–	24,221	–	0.62%	–
CSCO	New	CISCO SYS INC	$4,336,536	–	83,814	–	0.60%	–
CME	New	CME GROUP INC	$4,230,356	–	22,831	–	0.59%	–
XLP	New	SELECT SECTOR SPDR TRsbi cons stpls	$4,217,455	–	56,862	–	0.58%	–
HD	New	HOME DEPOT INC	$4,110,388	–	13,232	–	0.57%	–
RSP	New	INVESCO EXCHANGE TRADED FD Ts&p500 eql wgt	$3,845,598	–	25,699	–	0.53%	–
VCIT	New	VANGUARD SCOTTSDALE FDSint-term corp	$3,735,274	–	47,264	–	0.52%	–
DHR	New	DANAHER CORPORATION	$3,613,920	–	15,058	–	0.50%	–
ORCL	New	ORACLE CORP	$3,493,624	–	29,336	–	0.48%	–
AWK	New	AMERICAN WTR WKS CO INC NEW	$3,412,296	–	23,904	–	0.47%	–
IYR	New	ISHARES TRu.s. real es etf	$3,239,538	–	37,434	–	0.45%	–
TJX	New	TJX COS INC NEW	$3,244,574	–	38,266	–	0.45%	–
JCI	New	JOHNSON CTLS INTL PLC	$2,993,322	–	43,929	–	0.42%	–
BHP	New	BHP GROUP LTDsponsored ads	$2,983,500	–	50,000	–	0.41%	–
GOOG	New	ALPHABET INCcap stk cl c	$2,860,336	–	23,645	–	0.40%	–
VOO	New	VANGUARD INDEX FDS	$2,684,790	–	6,592	–	0.37%	–
ALGN	New	ALIGN TECHNOLOGY INC	$2,639,569	–	7,464	–	0.37%	–
EZU	New	ISHARES INCmsci eurzone etf	$2,621,958	–	57,223	–	0.36%	–
AMD	New	ADVANCED MICRO DEVICES INC	$2,502,944	–	21,973	–	0.35%	–
VCSH	New	VANGUARD SCOTTSDALE FDSshrt trm corp bd	$2,490,198	–	32,913	–	0.34%	–
	New	HARBOR ETF TRUSTscientific high	$2,278,528	–	52,392	–	0.32%	–
WPM	New	WHEATON PRECIOUS METALS CORP	$2,186,411	–	50,500	–	0.30%	–
VWOB	New	VANGUARD WHITEHALL FDSem mk gov bd etf	$2,104,726	–	33,800	–	0.29%	–
BLK	New	BLACKROCK INC	$2,097,610	–	3,035	–	0.29%	–
SLB	New	SCHLUMBERGER LTD	$2,066,970	–	42,080	–	0.29%	–
EWQ	New	ISHARES INCmsci france etf	$2,053,803	–	53,304	–	0.28%	–
HDB	New	HDFC BANK LTDsponsored ads	$2,017,397	–	28,944	–	0.28%	–
EWT	New	ISHARES INCmsci taiwan etf	$1,964,684	–	41,784	–	0.27%	–
EQIX	New	EQUINIX INC	$1,908,894	–	2,435	–	0.26%	–
LLY	New	LILLY ELI & CO	$1,875,920	–	4,000	–	0.26%	–
CB	New	CHUBB LIMITED	$1,831,053	–	9,509	–	0.25%	–
PG	New	PROCTER AND GAMBLE CO	$1,796,753	–	11,841	–	0.25%	–
QQQ	New	INVESCO QQQ TRunit ser 1	$1,703,396	–	4,611	–	0.24%	–
IGF	New	ISHARES TRglb infrastr etf	$1,694,895	–	36,100	–	0.24%	–
XLE	New	SELECT SECTOR SPDR TRenergy	$1,601,403	–	19,729	–	0.22%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$1,585,650	–	4,650	–	0.22%	–
VNQI	New	VANGUARD INTL EQUITY INDEX Fglb ex us etf	$1,542,171	–	38,372	–	0.21%	–
ICE	New	INTERCONTINENTAL EXCHANGE IN	$1,522,170	–	13,461	–	0.21%	–
EWG	New	ISHARES INCmsci germany etf	$1,507,039	–	52,749	–	0.21%	–
LYB	New	LYONDELLBASELL INDUSTRIES N	$1,455,230	–	15,847	–	0.20%	–
ACWI	New	ISHARES TRmsci acwi etf	$1,342,680	–	13,995	–	0.19%	–
EWU	New	ISHARES TRmsci uk etf new	$1,066,871	–	32,979	–	0.15%	–
RTX	New	RAYTHEON TECHNOLOGIES CORP	$1,061,005	–	10,831	–	0.15%	–
ZTS	New	ZOETIS INCcl a	$1,023,444	–	5,943	–	0.14%	–
TXN	New	TEXAS INSTRS INC	$1,008,112	–	5,600	–	0.14%	–
HON	New	HONEYWELL INTL INC	$949,313	–	4,575	–	0.13%	–
VSS	New	VANGUARD INTL EQUITY INDEX Fftse smcap etf	$939,301	–	8,502	–	0.13%	–
	New	LINDE PLC	$905,065	–	2,375	–	0.12%	–
	New	DIMENSIONAL ETF TRUSTus mktwide value	$890,963	–	25,825	–	0.12%	–
MRK	New	MERCK & CO INC	$885,618	–	7,675	–	0.12%	–
EIDO	New	ISHARES TRmsci indonia etf	$867,095	–	37,618	–	0.12%	–
BX	New	BLACKSTONE INC	$834,313	–	8,974	–	0.12%	–
EWA	New	ISHARES INCmsci aust etf	$763,115	–	33,841	–	0.11%	–
DEO	New	DIAGEO PLCspon adr new	$759,842	–	4,380	–	0.10%	–
NEE	New	NEXTERA ENERGY INC	$749,420	–	10,100	–	0.10%	–
ADP	New	AUTOMATIC DATA PROCESSING IN	$752,781	–	3,425	–	0.10%	–
CBRE	New	CBRE GROUP INCcl a	$714,122	–	8,848	–	0.10%	–
TTE	New	TOTALENERGIES SEsponsored ads	$717,503	–	12,448	–	0.10%	–
XLK	New	SELECT SECTOR SPDR TRtechnology	$693,180	–	3,987	–	0.10%	–
REGN	New	REGENERON PHARMACEUTICALS	$666,805	–	928	–	0.09%	–
QCOM	New	QUALCOMM INC	$654,720	–	5,500	–	0.09%	–
MRNA	New	MODERNA INC	$659,745	–	5,430	–	0.09%	–
BIDU	New	BAIDU INCspon adr rep a	$654,977	–	4,784	–	0.09%	–
JNJ	New	JOHNSON & JOHNSON	$614,079	–	3,710	–	0.08%	–
INCO	New	COLUMBIA ETF TR IIindia consmr etf	$502,464	–	9,589	–	0.07%	–
VNM	New	VANECK ETF TRUSTvaneck vietnam	$486,926	–	36,611	–	0.07%	–
THD	New	ISHARES INCmsci thailnd etf	$459,868	–	6,991	–	0.06%	–
AVGO	New	BROADCOM INC	$433,715	–	500	–	0.06%	–
KMB	New	KIMBERLY-CLARK CORP	$403,826	–	2,925	–	0.06%	–
DIA	New	SPDR DOW JONES INDL AVERAGEut ser 1	$398,866	–	1,160	–	0.06%	–
PFE	New	PFIZER INC	$391,559	–	10,675	–	0.05%	–
EWC	New	ISHARES INCmsci cda etf	$369,249	–	10,553	–	0.05%	–
FEZ	New	SPDR INDEX SHS FDSeuro stoxx 50	$356,345	–	7,750	–	0.05%	–
ABT	New	ABBOTT LABS	$347,665	–	3,189	–	0.05%	–
IVW	New	ISHARES TRs&p 500 grwt etf	$343,379	–	4,872	–	0.05%	–
TCOM	New	TRIP COM GROUP LTDads	$339,955	–	9,713	–	0.05%	–
SDY	New	SPDR SER TRs&p divid etf	$328,760	–	2,682	–	0.05%	–
ISRG	New	INTUITIVE SURGICAL INC	$323,475	–	946	–	0.04%	–
NKE	New	NIKE INCcl b	$302,414	–	2,740	–	0.04%	–
VTV	New	VANGUARD INDEX FDSvalue etf	$303,099	–	2,133	–	0.04%	–
CI	New	THE CIGNA GROUP	$297,717	–	1,061	–	0.04%	–
UBER	New	UBER TECHNOLOGIES INC	$299,470	–	6,937	–	0.04%	–
CQQQ	New	INVESCO EXCH TRADED FD TR IIchina technlgy	$288,883	–	7,284	–	0.04%	–
ADBE	New	ADOBE SYSTEMS INCORPORATED	$273,834	–	560	–	0.04%	–
INTC	New	INTEL CORP	$275,044	–	8,225	–	0.04%	–
IWM	New	ISHARES TRrussell 2000 etf	$240,829	–	1,286	–	0.03%	–
AN	New	AUTONATION INC	$217,285	–	1,320	–	0.03%	–
EPHE	New	ISHARES TRmsci philips etf	$218,189	–	8,379	–	0.03%	–
ZBH	New	ZIMMER BIOMET HOLDINGS INC	$215,051	–	1,477	–	0.03%	–
VGT	New	VANGUARD WORLD FDSinf tech etf	$211,352	–	478	–	0.03%	–
COST	New	COSTCO WHSL CORP NEW	$204,046	–	379	–	0.03%	–
IYJ	New	ISHARES TRus industrials	$200,522	–	1,891	–	0.03%	–
	New	GRAB HOLDINGS LIMITEDclass a ord	$78,605	–	22,917	–	0.01%	–

Q4 2022

			Value		Shares		↓ Weighting
	Exit	GRAB HOLDINGS LIMITEDclass a ord	$0	–	-22,917	–	-0.01%	–
DHR	Exit	DANAHER CORPORATION	$0	–	-776	–	-0.03%	–
	Exit	ANNALY CAPITAL MANAGEMENT IN	$0	–	-11,750	–	-0.03%	–
ACN	Exit	ACCENTURE PLC IRELAND	$0	–	-780	–	-0.03%	–
CNYA	Exit	ISHARES TRmsci china a	$0	–	-6,530	–	-0.03%	–
ISRG	Exit	INTUITIVE SURGICAL INC	$0	–	-1,096	–	-0.03%	–
BEPC	Exit	BROOKFIELD RENEWABLE CORPcl a sub vtg	$0	–	-6,375	–	-0.03%	–
INTC	Exit	INTEL CORP	$0	–	-8,225	–	-0.03%	–
FSK	Exit	FS KKR CAP CORP	$0	–	-13,000	–	-0.04%	–
AVGO	Exit	BROADCOM INC	$0	–	-500	–	-0.04%	–
NKE	Exit	NIKE INCcl b	$0	–	-2,740	–	-0.04%	–
FEZ	Exit	SPDR INDEX SHS FDSeuro stoxx 50	$0	–	-7,750	–	-0.04%	–
XLK	Exit	SELECT SECTOR SPDR TRtechnology	$0	–	-2,023	–	-0.04%	–
PFLT	Exit	PENNANTPARK FLOATING RATE CA	$0	–	-26,300	–	-0.04%	–
CQQQ	Exit	INVESCO EXCH TRADED FD TR IIchina technlgy	$0	–	-7,284	–	-0.04%	–
TCOM	Exit	TRIP COM GROUP LTDads	$0	–	-9,713	–	-0.04%	–
IRM	Exit	IRON MTN INC DEL	$0	–	-6,500	–	-0.05%	–
PRU	Exit	PRUDENTIAL FINL INC	$0	–	-3,500	–	-0.05%	–
ABT	Exit	ABBOTT LABS	$0	–	-3,189	–	-0.05%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-8,760	–	-0.05%	–
KMB	Exit	KIMBERLY-CLARK CORP	$0	–	-2,925	–	-0.05%	–
DIA	Exit	SPDR DOW JONES INDL AVERAGEut ser 1	$0	–	-1,160	–	-0.05%	–
CSWC	Exit	CAPITAL SOUTHWEST CORP	$0	–	-20,000	–	-0.05%	–
WOPEY	Exit	WOODSIDE ENERGY GROUP LTDsponsored adr	$0	–	-18,070	–	-0.06%	–
THD	Exit	ISHARES INCmsci thailnd etf	$0	–	-5,760	–	-0.06%	–
ABR	Exit	ARBOR REALTY TRUST INC	$0	–	-33,128	–	-0.06%	–
CI	Exit	CIGNA CORP NEW	$0	–	-1,408	–	-0.06%	–
VNM	Exit	VANECK ETF TRUSTvaneck vietnam	$0	–	-29,164	–	-0.06%	–
AGG	Exit	ISHARES TRcore us aggbd et	$0	–	-4,100	–	-0.06%	–
EWA	Exit	ISHARES INCmsci aust etf	$0	–	-22,100	–	-0.07%	–
TPVG	Exit	TRIPLEPOINT VENTURE GROWTH B	$0	–	-40,674	–	-0.07%	–
BXMT	Exit	BLACKSTONE MTG TR INC	$0	–	-20,900	–	-0.08%	–
INCO	Exit	COLUMBIA ETF TR IIindia consmr etf	$0	–	-9,589	–	-0.08%	–
PYPL	Exit	PAYPAL HLDGS INC	$0	–	-5,735	–	-0.08%	–
PFE	Exit	PFIZER INC	$0	–	-11,875	–	-0.08%	–
CME	Exit	CME GROUP INC	$0	–	-2,975	–	-0.08%	–
GBDC	Exit	GOLUB CAP BDC INC	$0	–	-43,224	–	-0.08%	–
STWD	Exit	STARWOOD PPTY TR INC	$0	–	-29,500	–	-0.09%	–
ZBH	Exit	ZIMMER BIOMET HOLDINGS INC	$0	–	-5,205	–	-0.09%	–
FDUS	Exit	FIDUS INVT CORP	$0	–	-31,912	–	-0.09%	–
TSLX	Exit	SIXTH STREET SPECIALTY LENDI	$0	–	-33,838	–	-0.09%	–
MAIN	Exit	MAIN STR CAP CORP	$0	–	-16,483	–	-0.09%	–
BIDU	Exit	BAIDU INCspon adr rep a	$0	–	-4,784	–	-0.09%	–
NRZ	Exit	RITHM CAPITAL CORP	$0	–	-81,000	–	-0.10%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-3,710	–	-0.10%	–
QCOM	Exit	QUALCOMM INC	$0	–	-5,500	–	-0.10%	–
NEWT	Exit	NEWTEK BUSINESS SVCS CORP	$0	–	-37,900	–	-0.10%	–
OEF	Exit	ISHARES TRs&p 100 etf	$0	–	-3,929	–	-0.10%	–
REGN	Exit	REGENERON PHARMACEUTICALS	$0	–	-928	–	-0.10%	–
LIN	Exit	LINDE PLC	$0	–	-2,375	–	-0.10%	–
MRK	Exit	MERCK & CO INC	$0	–	-7,675	–	-0.10%	–
	Exit	DIMENSIONAL ETF TRUSTus mktwide value	$0	–	-25,825	–	-0.12%	–
HON	Exit	HONEYWELL INTL INC	$0	–	-4,575	–	-0.12%	–
ADP	Exit	AUTOMATIC DATA PROCESSING IN	$0	–	-3,425	–	-0.12%	–
HTGC	Exit	HERCULES CAPITAL INC	$0	–	-67,151	–	-0.12%	–
EIDO	Exit	ISHARES TRmsci indonia etf	$0	–	-33,750	–	-0.13%	–
NEE	Exit	NEXTERA ENERGY INC	$0	–	-10,100	–	-0.13%	–
VOO	Exit	VANGUARD INDEX FDS	$0	–	-2,420	–	-0.13%	–
CBRE	Exit	CBRE GROUP INCcl a	$0	–	-11,830	–	-0.13%	–
ZTS	Exit	ZOETIS INCcl a	$0	–	-5,943	–	-0.14%	–
RTX	Exit	RAYTHEON TECHNOLOGIES CORP	$0	–	-10,831	–	-0.14%	–
SAR	Exit	SARATOGA INVT CORP	$0	–	-43,403	–	-0.14%	–
ICE	Exit	INTERCONTINENTAL EXCHANGE IN	$0	–	-10,180	–	-0.15%	–
GDX	Exit	VANECK ETF TRUSTgold miners etf	$0	–	-39,382	–	-0.15%	–
DEO	Exit	DIAGEO PLCspon adr new	$0	–	-5,652	–	-0.15%	–
IEI	Exit	ISHARES TR3 7 yr treas bd	$0	–	-8,750	–	-0.16%	–
WM	Exit	WASTE MGMT INC DEL	$0	–	-6,600	–	-0.17%	–
ACWI	Exit	ISHARES TRmsci acwi etf	$0	–	-13,995	–	-0.17%	–
TXN	Exit	TEXAS INSTRS INC	$0	–	-7,100	–	-0.18%	–
EWG	Exit	ISHARES INCmsci germany etf	$0	–	-56,161	–	-0.18%	–
SPY	Exit	SPDR S&P 500 ETF TRtr unit	$0	–	-3,426	–	-0.20%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-4,650	–	-0.20%	–
LLY	Exit	LILLY ELI & CO	$0	–	-4,000	–	-0.21%	–
LYB	Exit	LYONDELLBASELL INDUSTRIES N	$0	–	-17,231	–	-0.21%	–
EWU	Exit	ISHARES TRmsci uk etf new	$0	–	-50,121	–	-0.21%	–
ARCC	Exit	ARES CAPITAL CORP	$0	–	-81,422	–	-0.22%	–
QQQ	Exit	INVESCO QQQ TRunit ser 1	$0	–	-5,286	–	-0.22%	–
EQIX	Exit	EQUINIX INC	$0	–	-2,632	–	-0.24%	–
AMED	Exit	AMEDISYS INC	$0	–	-15,679	–	-0.24%	–
EZU	Exit	ISHARES INCmsci eurzone etf	$0	–	-48,791	–	-0.25%	–
BRKA	Exit	BERKSHIRE HATHAWAY INC DELcl a	$0	–	-4	–	-0.26%	–
AMD	Exit	ADVANCED MICRO DEVICES INC	$0	–	-25,587	–	-0.26%	–
WPM	Exit	WHEATON PRECIOUS METALS CORP	$0	–	-50,000	–	-0.26%	–
EWT	Exit	ISHARES INCmsci taiwan etf	$0	–	-37,741	–	-0.26%	–
PM	Exit	PHILIP MORRIS INTL INC	$0	–	-19,692	–	-0.26%	–
CB	Exit	CHUBB LIMITED	$0	–	-9,203	–	-0.27%	–
ALGN	Exit	ALIGN TECHNOLOGY INC	$0	–	-8,177	–	-0.27%	–
VWO	Exit	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$0	–	-52,897	–	-0.31%	–
ORCL	Exit	ORACLE CORP	$0	–	-31,644	–	-0.31%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-20,100	–	-0.31%	–
HE	Exit	HAWAIIAN ELEC INDUSTRIES	$0	–	-60,000	–	-0.33%	–
FXI	Exit	ISHARES TRchina lg-cap etf	$0	–	-86,318	–	-0.36%	–
DB	Exit	DEUTSCHE BANK A Gnamen akt	$0	–	-300,000	–	-0.36%	–
JCI	Exit	JOHNSON CTLS INTL PLC	$0	–	-48,677	–	-0.38%	–
BOH	Exit	BANK HAWAII CORP	$0	–	-32,500	–	-0.40%	–
BHP	Exit	BHP GROUP LTDsponsored ads	$0	–	-50,000	–	-0.40%	–
TJX	Exit	TJX COS INC NEW	$0	–	-41,094	–	-0.41%	–
EWQ	Exit	ISHARES INCmsci france etf	$0	–	-100,858	–	-0.43%	–
BABA	Exit	ALIBABA GROUP HLDG LTDsponsored ads	$0	–	-35,636	–	-0.46%	–
HDB	Exit	HDFC BANK LTDsponsored ads	$0	–	-53,610	–	-0.50%	–
EXAS	Exit	EXACT SCIENCES CORP	$0	–	-102,700	–	-0.53%	–
AWK	Exit	AMERICAN WTR WKS CO INC NEW	$0	–	-25,721	–	-0.53%	–
EOG	Exit	EOG RES INC	$0	–	-31,962	–	-0.57%	–
CSCO	Exit	CISCO SYS INC	$0	–	-89,932	–	-0.57%	–
BSX	Exit	BOSTON SCIENTIFIC CORP	$0	–	-93,539	–	-0.58%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC	$0	–	-8,011	–	-0.65%	–
PEP	Exit	PEPSICO INC	$0	–	-25,638	–	-0.67%	–
MA	Exit	MASTERCARD INCORPORATEDcl a	$0	–	-14,910	–	-0.68%	–
FAST	Exit	FASTENAL CO	$0	–	-98,566	–	-0.72%	–
MCD	Exit	MCDONALDS CORP	$0	–	-20,271	–	-0.75%	–
MU	Exit	MICRON TECHNOLOGY INC	$0	–	-94,219	–	-0.75%	–
LOGI	Exit	LOGITECH INTL S A	$0	–	-105,579	–	-0.79%	–
EEM	Exit	ISHARES TRmsci emg mkt etf	$0	–	-172,470	–	-0.96%	–
TEVA	Exit	TEVA PHARMACEUTICAL INDS LTDsponsored ads	$0	–	-925,407	–	-1.19%	–
INDA	Exit	ISHARES TRmsci india etf	$0	–	-194,817	–	-1.27%	–
FIS	Exit	FIDELITY NATL INFORMATION SV	$0	–	-107,233	–	-1.29%	–
BX	Exit	BLACKSTONE INC	$0	–	-108,281	–	-1.45%	–
GOLD	Exit	BARRICK GOLD CORP	$0	–	-615,753	–	-1.52%	–
AZN	Exit	ASTRAZENECA PLCsponsored adr	$0	–	-187,249	–	-1.64%	–
VGK	Exit	VANGUARD INTL EQUITY INDEX Fftse europe etf	$0	–	-230,086	–	-1.69%	–
UBS	Exit	UBS GROUP AG	$0	–	-729,955	–	-1.71%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-105,116	–	-1.75%	–
ALC	Exit	ALCON AG	$0	–	-202,957	–	-1.91%	–
HD	Exit	HOME DEPOT INC	$0	–	-45,347	–	-2.00%	–
TSM	Exit	TAIWAN SEMICONDUCTOR MFG LTDsponsored ads	$0	–	-200,066	–	-2.19%	–
EWL	Exit	ISHARES INCmsci switzerland	$0	–	-391,752	–	-2.34%	–
FB	Exit	META PLATFORMS INCcl a	$0	–	-113,180	–	-2.45%	–
XLV	Exit	SELECT SECTOR SPDR TRsbi healthcare	$0	–	-137,193	–	-2.65%	–
IEF	Exit	ISHARES TR7-10 yr trsy bd	$0	–	-188,022	–	-2.88%	–
V	Exit	VISA INC	$0	–	-116,004	–	-3.29%	–
AMZN	Exit	AMAZON COM INC	$0	–	-189,174	–	-3.41%	–
EWJ	Exit	ISHARES INCmsci jpn etf new	$0	–	-437,770	–	-3.41%	–
AAPL	Exit	APPLE INC	$0	–	-176,725	–	-3.90%	–
GLD	Exit	SPDR GOLD TR	$0	–	-163,365	–	-4.03%	–
XLE	Exit	SELECT SECTOR SPDR TRenergy	$0	–	-355,068	–	-4.08%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-277,780	–	-4.24%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-143,546	–	-5.33%	–
UNH	Exit	UNITEDHEALTH GROUP INC	$0	–	-69,843	–	-5.63%	–
BUR	Exit	BURFORD CAP LTD	$0	–	-7,647,727	–	-9.07%	–

Q3 2022

			Value		Shares		↓ Weighting
UNH	Sell	UNITEDHEALTH GROUP INC	$35,273,509,000	+95326.7%	69,843	-3.0%	5.63%	+15.0%
MSFT	Sell	MICROSOFT CORP	$33,431,863,000	+87700.7%	143,546	-3.2%	5.33%	+5.8%
GOOGL	Buy	ALPHABET INCcap stk cl a	$26,569,657,000	+84069.1%	277,780	+1817.7%	4.24%	+1.4%
XLE	New	SELECT SECTOR SPDR TRenergy	$25,571,997,000	–	355,068	–	4.08%	–
GLD	Sell	SPDR GOLD TR	$25,267,665,000	+90804.0%	163,365	-1.0%	4.03%	+9.5%
AAPL	Sell	APPLE INC	$24,423,395,000	+94991.9%	176,725	-5.9%	3.90%	+14.6%
EWJ	Sell	ISHARES INCmsci jpn etf new	$21,385,065,000	+91512.3%	437,770	-0.9%	3.41%	+10.4%
AMZN	Sell	AMAZON COM INC	$21,376,662,000	+99804.9%	189,174	-6.1%	3.41%	+20.4%
V	Sell	VISA INC	$20,608,111,000	+87620.2%	116,004	-2.8%	3.29%	+5.7%
IEF	Buy	ISHARES TR7-10 yr trsy bd	$18,048,232,000	+99884.7%	188,022	+6.6%	2.88%	+20.5%
XLV	Sell	SELECT SECTOR SPDR TRsbi healthcare	$16,615,444,000	+90462.2%	137,193	-4.1%	2.65%	+9.1%
FB	Sell	META PLATFORMS INCcl a	$15,356,262,000	+80837.4%	113,180	-3.8%	2.45%	-2.5%
EWL	Sell	ISHARES INCmsci switzerland	$14,671,112,000	+78212.8%	391,752	-13.2%	2.34%	-5.6%
TSM	Sell	TAIWAN SEMICONDUCTOR MFG LTDsponsored ads	$13,716,525,000	+81178.3%	200,066	-3.1%	2.19%	-2.1%
HD	Sell	HOME DEPOT INC	$12,513,051,000	+97612.4%	45,347	-2.9%	2.00%	+17.7%
ALC	Sell	ALCON AG	$11,988,397,000	+80749.7%	202,957	-4.7%	1.91%	-2.6%
JPM	Sell	JPMORGAN CHASE & CO	$10,984,622,000	+89820.0%	105,116	-3.1%	1.75%	+8.3%
VGK	Sell	VANGUARD INTL EQUITY INDEX Fftse europe etf	$10,618,469,000	+87144.0%	230,086	-0.1%	1.69%	+5.1%
AZN	Sell	ASTRAZENECA PLCsponsored adr	$10,268,735,000	+82095.9%	187,249	-1.0%	1.64%	-1.0%
GOLD	Sell	BARRICK GOLD CORP	$9,544,172,000	+84504.0%	615,753	-3.4%	1.52%	+1.9%
BX	Sell	BLACKSTONE INC	$9,063,120,000	+90098.2%	108,281	-1.7%	1.45%	+8.6%
FIS	Sell	FIDELITY NATL INFORMATION SV	$8,103,598,000	+80205.2%	107,233	-2.6%	1.29%	-3.2%
INDA	Sell	ISHARES TRmsci india etf	$7,946,585,000	+102808.4%	194,817	-0.7%	1.27%	+23.9%
TEVA	Sell	TEVA PHARMACEUTICAL INDS LTDsponsored ads	$7,468,034,000	+106540.5%	925,407	-0.6%	1.19%	+28.6%
EEM	Sell	ISHARES TRmsci emg mkt etf	$6,015,754,000	+81769.3%	172,470	-5.9%	0.96%	-1.3%
LOGI	Buy	LOGITECH INTL S A	$4,928,844,000	+91976.3%	105,579	+2.7%	0.79%	+10.9%
MU	Sell	MICRON TECHNOLOGY INC	$4,720,372,000	+85013.1%	94,219	-6.1%	0.75%	+2.6%
MCD	Sell	MCDONALDS CORP	$4,677,331,000	+87261.4%	20,271	-6.5%	0.75%	+5.2%
FAST	Sell	FASTENAL CO	$4,537,979,000	+86502.7%	98,566	-6.1%	0.72%	+4.3%
MA	Sell	MASTERCARD INCORPORATEDcl a	$4,239,509,000	+83486.5%	14,910	-7.3%	0.68%	+0.6%
PEP	Sell	PEPSICO INC	$4,185,660,000	+90952.0%	25,638	-7.0%	0.67%	+9.7%
TMO	Sell	THERMO FISHER SCIENTIFIC INC	$4,063,099,000	+87372.5%	8,011	-6.3%	0.65%	+5.4%
BSX	Sell	BOSTON SCIENTIFIC CORP	$3,622,765,000	+101009.8%	93,539	-2.7%	0.58%	+21.7%
CSCO	Sell	CISCO SYS INC	$3,597,280,000	+86665.1%	89,932	-7.5%	0.57%	+4.6%
EOG	Sell	EOG RES INC	$3,571,114,000	+94373.9%	31,962	-6.6%	0.57%	+13.8%
AWK	Sell	AMERICAN WTR WKS CO INC NEW	$3,347,845,000	+80512.7%	25,721	-7.9%	0.53%	-2.9%
EXAS	Sell	EXACT SCIENCES CORP	$3,336,723,000	+79936.5%	102,700	-3.0%	0.53%	-3.6%
HDB	Sell	HDFC BANK LTDsponsored ads	$3,131,896,000	+104575.7%	53,610	-1.5%	0.50%	+26.3%
BABA	Sell	ALIBABA GROUP HLDG LTDsponsored ads	$2,850,524,000	+20551.5%	35,636	-70.7%	0.46%	-75.1%
EWQ	Sell	ISHARES INCmsci france etf	$2,702,994,000	+76212.6%	100,858	-14.6%	0.43%	-8.1%
TJX	Sell	TJX COS INC NEW	$2,552,759,000	+102297.1%	41,094	-7.9%	0.41%	+23.3%
JCI	Sell	JOHNSON CTLS INTL PLC	$2,395,882,000	+94412.1%	48,677	-8.0%	0.38%	+13.7%
FXI	Sell	ISHARES TRchina lg-cap etf	$2,232,183,000	+73862.3%	86,318	-3.0%	0.36%	-11.0%
GOOG	Buy	ALPHABET INCcap stk cl c	$1,932,615,000	+87826.1%	20,100	+1900.0%	0.31%	+5.8%
ORCL	Sell	ORACLE CORP	$1,932,499,000	+80220.0%	31,644	-8.1%	0.31%	-3.4%
ALGN	Sell	ALIGN TECHNOLOGY INC	$1,693,538,000	+80930.5%	8,177	-7.4%	0.27%	-2.5%
CB	Sell	CHUBB LIMITED	$1,673,842,000	+86448.2%	9,203	-6.4%	0.27%	+4.3%
PM	Sell	PHILIP MORRIS INTL INC	$1,634,633,000	+76499.5%	19,692	-8.9%	0.26%	-7.8%
AMD	Sell	ADVANCED MICRO DEVICES INC	$1,621,192,000	+79292.4%	25,587	-4.2%	0.26%	-4.1%
AMED	Sell	AMEDISYS INC	$1,517,570,000	+86420.5%	15,679	-6.0%	0.24%	+4.3%
EQIX	Sell	EQUINIX INC	$1,497,187,000	+79792.6%	2,632	-7.7%	0.24%	-3.6%
QQQ	Sell	INVESCO QQQ TRunit ser 1	$1,412,736,000	+87538.7%	5,286	-8.1%	0.22%	+5.6%
ARCC	Buy	ARES CAPITAL CORP	$1,374,403,000	+96349.3%	81,422	+2.4%	0.22%	+15.9%
EWU	Sell	ISHARES TRmsci uk etf new	$1,313,671,000	+79807.0%	50,121	-8.7%	0.21%	-3.7%
LYB	Sell	LYONDELLBASELL INDUSTRIES N	$1,297,150,000	+78467.5%	17,231	-8.7%	0.21%	-5.5%
EWG	Sell	ISHARES INCmsci germany etf	$1,108,618,000	+80409.7%	56,161	-6.2%	0.18%	-2.7%
TXN	Sell	TEXAS INSTRS INC	$1,098,938,000	+99261.5%	7,100	-1.4%	0.18%	+19.9%
IEI	New	ISHARES TR3 7 yr treas bd	$999,950,000	–	8,750	–	0.16%	–
DEO	Sell	DIAGEO PLCspon adr new	$959,766,000	+96553.2%	5,652	-0.9%	0.15%	+15.9%
GDX	Sell	VANECK ETF TRUSTgold miners etf	$949,894,000	+80879.9%	39,382	-8.1%	0.15%	-1.9%
ICE	Sell	INTERCONTINENTAL EXCHANGE IN	$919,763,000	+95410.2%	10,180	-0.6%	0.15%	+14.8%
SAR	Buy	SARATOGA INVT CORP	$901,480,000	+88628.3%	43,403	+2.4%	0.14%	+6.7%
ZTS	Buy	ZOETIS INCcl a	$881,287,000	+95071.4%	5,943	+10.3%	0.14%	+14.6%
RTX	Sell	RAYTHEON TECHNOLOGIES CORP	$886,626,000	+84180.0%	10,831	-1.0%	0.14%	+1.4%
VOO	Buy	VANGUARD INDEX FDS	$794,486,000	+152980.2%	2,420	+61.9%	0.13%	+84.1%
NEE	Sell	NEXTERA ENERGY INC	$791,941,000	+100272.8%	10,100	-0.8%	0.13%	+21.2%
HTGC	Sell	HERCULES CAPITAL INC	$777,609,000	+44233.5%	67,151	-48.4%	0.12%	-46.6%
ADP	Sell	AUTOMATIC DATA PROCESSING IN	$774,701,000	+106608.1%	3,425	-1.0%	0.12%	+29.2%
HON	Sell	HONEYWELL INTL INC	$763,888,000	+95386.0%	4,575	-0.7%	0.12%	+15.1%
MRK	Buy	MERCK & CO INC	$660,971,000	+98258.8%	7,675	+4.1%	0.10%	+18.0%
LIN	Sell	LINDE PLC	$649,599,000	+85373.6%	2,375	-10.5%	0.10%	+3.0%
NEWT	Sell	NEWTEK BUSINESS SVCS CORP	$618,528,000	+44785.9%	37,900	-47.9%	0.10%	-45.6%
JNJ	Sell	JOHNSON & JOHNSON	$606,066,000	+89954.4%	3,710	-2.1%	0.10%	+9.0%
BIDU	Sell	BAIDU INCspon adr rep a	$562,072,000	+35541.9%	4,784	-54.9%	0.09%	-56.9%
MAIN	Buy	MAIN STR CAP CORP	$554,488,000	+88760.3%	16,483	+1.8%	0.09%	+6.0%
TSLX	Buy	SIXTH STREET SPECIALTY LENDI	$552,913,000	+90393.1%	33,838	+2.5%	0.09%	+8.6%
FDUS	Buy	FIDUS INVT CORP	$548,248,000	+100866.5%	31,912	+2.5%	0.09%	+20.8%
GBDC	Buy	GOLUB CAP BDC INC	$535,545,000	+97627.2%	43,224	+2.3%	0.08%	+16.4%
PFE	Buy	PFIZER INC	$519,650,000	+116938.3%	11,875	+40.1%	0.08%	+40.7%
TPVG	Buy	TRIPLEPOINT VENTURE GROWTH B	$441,720,000	+87717.1%	40,674	+3.0%	0.07%	+4.5%
CI	Sell	CIGNA CORP NEW	$390,678,000	+96602.5%	1,408	-8.1%	0.06%	+14.8%
DIA	Sell	SPDR DOW JONES INDL AVERAGEut ser 1	$333,268,000	+85793.8%	1,160	-7.9%	0.05%	+3.9%
ABT	New	ABBOTT LABS	$308,568,000	–	3,189	–	0.05%	–
XLK	Sell	SELECT SECTOR SPDR TRtechnology	$240,292,000	+37504.4%	2,023	-59.7%	0.04%	-55.3%
FEZ	New	SPDR INDEX SHS FDSeuro stoxx 50	$238,390,000	–	7,750	–	0.04%	–
NKE	Sell	NIKE INCcl b	$227,749,000	+65723.4%	2,740	-19.2%	0.04%	-21.7%
AVGO	Sell	BROADCOM INC	$222,005,000	+88702.0%	500	-2.7%	0.04%	+6.1%
ISRG	New	INTUITIVE SURGICAL INC	$205,434,000	–	1,096	–	0.03%	–
DHR	Sell	DANAHER CORPORATION	$200,433,000	+99124.3%	776	-2.8%	0.03%	+18.5%
ACN	Sell	ACCENTURE PLC IRELAND	$200,694,000	+90711.8%	780	-1.9%	0.03%	+10.3%
	New	ANNALY CAPITAL MANAGEMENT IN	$201,630,000	–	11,750	–	0.03%	–
IQV	Exit	IQVIA HLDGS INC	$0	–	-943	–	-0.03%	–
AMT	Exit	AMERICAN TOWER CORP NEW	$0	–	-788	–	-0.03%	–
VHT	Exit	VANGUARD WORLD FDShealth car etf	$0	–	-892	–	-0.03%	–
EPHE	Exit	ISHARES TRmsci philips etf	$0	–	-8,379	–	-0.03%	–
ADBE	Exit	ADOBE SYSTEMS INCORPORATED	$0	–	-582	–	-0.03%	–
NLY	Exit	ANNALY CAPITAL MANAGEMENT IN	$0	–	-47,000	–	-0.04%	–
EBND	Exit	SPDR SER TRbloomberg emergi	$0	–	-1,148,716	–	-3.11%	–
CWB	Exit	SPDR SER TRbbg conv sec etf	$0	–	-548,729	–	-4.69%	–

Q2 2022

			Value		Shares		↓ Weighting
BUR	New	BURFORD CAP LTD	$74,767,000	–	7,647,727	–	9.90%	–
MSFT	New	MICROSOFT CORP	$38,077,000	–	148,257	–	5.04%	–
UNH	New	UNITEDHEALTH GROUP INC	$36,964,000	–	71,967	–	4.90%	–
CWB	New	SPDR SER TRbbg conv sec etf	$35,426,000	–	548,729	–	4.69%	–
GOOGL	New	ALPHABET INCcap stk cl a	$31,567,000	–	14,485	–	4.18%	–
GLD	New	SPDR GOLD TR	$27,796,000	–	164,998	–	3.68%	–
AAPL	New	APPLE INC	$25,684,000	–	187,856	–	3.40%	–
EBND	New	SPDR SER TRbloomberg emergi	$23,491,000	–	1,148,716	–	3.11%	–
V	New	VISA INC	$23,493,000	–	119,319	–	3.11%	–
EWJ	New	ISHARES INCmsci jpn etf new	$23,343,000	–	441,853	–	3.09%	–
AMZN	New	AMAZON COM INC	$21,397,000	–	201,457	–	2.83%	–
FB	New	META PLATFORMS INCcl a	$18,973,000	–	117,662	–	2.51%	–
EWL	New	ISHARES INCmsci switzerland	$18,734,000	–	451,087	–	2.48%	–
XLV	New	SELECT SECTOR SPDR TRsbi healthcare	$18,347,000	–	143,067	–	2.43%	–
IEF	New	ISHARES TR7-10 yr trsy bd	$18,051,000	–	176,450	–	2.39%	–
TSM	New	TAIWAN SEMICONDUCTOR MFG LTDsponsored ads	$16,876,000	–	206,429	–	2.24%	–
ALC	New	ALCON AG	$14,828,000	–	212,886	–	1.96%	–
BABA	New	ALIBABA GROUP HLDG LTDsponsored ads	$13,803,000	–	121,422	–	1.83%	–
HD	New	HOME DEPOT INC	$12,806,000	–	46,690	–	1.70%	–
AZN	New	ASTRAZENECA PLCsponsored adr	$12,493,000	–	189,090	–	1.66%	–
JPM	New	JPMORGAN CHASE & CO	$12,216,000	–	108,477	–	1.62%	–
VGK	New	VANGUARD INTL EQUITY INDEX Fftse europe etf	$12,171,000	–	230,426	–	1.61%	–
UBS	New	UBS GROUP AG	$11,735,000	–	729,955	–	1.55%	–
GOLD	New	BARRICK GOLD CORP	$11,281,000	–	637,689	–	1.49%	–
FIS	New	FIDELITY NATL INFORMATION SV	$10,091,000	–	110,075	–	1.34%	–
BX	New	BLACKSTONE INC	$10,048,000	–	110,143	–	1.33%	–
INDA	New	ISHARES TRmsci india etf	$7,722,000	–	196,096	–	1.02%	–
EEM	New	ISHARES TRmsci emg mkt etf	$7,348,000	–	183,252	–	0.97%	–
TEVA	New	TEVA PHARMACEUTICAL INDS LTDsponsored ads	$7,003,000	–	931,232	–	0.93%	–
MU	New	MICRON TECHNOLOGY INC	$5,546,000	–	100,331	–	0.73%	–
MCD	New	MCDONALDS CORP	$5,354,000	–	21,686	–	0.71%	–
LOGI	New	LOGITECH INTL S A	$5,353,000	–	102,768	–	0.71%	–
FAST	New	FASTENAL CO	$5,240,000	–	104,973	–	0.69%	–
MA	New	MASTERCARD INCORPORATEDcl a	$5,072,000	–	16,078	–	0.67%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$4,645,000	–	8,549	–	0.62%	–
PEP	New	PEPSICO INC	$4,597,000	–	27,581	–	0.61%	–
EXAS	New	EXACT SCIENCES CORP	$4,169,000	–	105,840	–	0.55%	–
AWK	New	AMERICAN WTR WKS CO INC NEW	$4,153,000	–	27,915	–	0.55%	–
CSCO	New	CISCO SYS INC	$4,146,000	–	97,221	–	0.55%	–
EOG	New	EOG RES INC	$3,780,000	–	34,223	–	0.50%	–
BSX	New	BOSTON SCIENTIFIC CORP	$3,583,000	–	96,140	–	0.48%	–
EWQ	New	ISHARES INCmsci france etf	$3,542,000	–	118,041	–	0.47%	–
FXI	New	ISHARES TRchina lg-cap etf	$3,018,000	–	88,993	–	0.40%	–
HDB	New	HDFC BANK LTDsponsored ads	$2,992,000	–	54,433	–	0.40%	–
BHP	New	BHP GROUP LTDsponsored ads	$2,809,000	–	50,000	–	0.37%	–
DB	New	DEUTSCHE BANK A Gnamen akt	$2,609,000	–	300,000	–	0.35%	–
JCI	New	JOHNSON CTLS INTL PLC	$2,535,000	–	52,936	–	0.34%	–
TJX	New	TJX COS INC NEW	$2,493,000	–	44,636	–	0.33%	–
HE	New	HAWAIIAN ELEC INDUSTRIES	$2,454,000	–	60,000	–	0.32%	–
BOH	New	BANK HAWAII CORP	$2,418,000	–	32,500	–	0.32%	–
ORCL	New	ORACLE CORP	$2,406,000	–	34,440	–	0.32%	–
VWO	New	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$2,203,000	–	52,897	–	0.29%	–
GOOG	New	ALPHABET INCcap stk cl c	$2,198,000	–	1,005	–	0.29%	–
PM	New	PHILIP MORRIS INTL INC	$2,134,000	–	21,617	–	0.28%	–
ALGN	New	ALIGN TECHNOLOGY INC	$2,090,000	–	8,830	–	0.28%	–
AMD	New	ADVANCED MICRO DEVICES INC	$2,042,000	–	26,708	–	0.27%	–
CB	New	CHUBB LIMITED	$1,934,000	–	9,837	–	0.26%	–
EWT	New	ISHARES INCmsci taiwan etf	$1,903,000	–	37,741	–	0.25%	–
EQIX	New	EQUINIX INC	$1,874,000	–	2,852	–	0.25%	–
WPM	New	WHEATON PRECIOUS METALS CORP	$1,798,000	–	50,000	–	0.24%	–
EZU	New	ISHARES INCmsci eurzone etf	$1,774,000	–	48,791	–	0.24%	–
HTGC	New	HERCULES CAPITAL INC	$1,754,000	–	130,016	–	0.23%	–
AMED	New	AMEDISYS INC	$1,754,000	–	16,685	–	0.23%	–
LYB	New	LYONDELLBASELL INDUSTRIES N	$1,651,000	–	18,881	–	0.22%	–
EWU	New	ISHARES TRmsci uk etf new	$1,644,000	–	54,879	–	0.22%	–
BRKA	New	BERKSHIRE HATHAWAY INC DELcl a	$1,636,000	–	4	–	0.22%	–
QQQ	New	INVESCO QQQ TRunit ser 1	$1,612,000	–	5,750	–	0.21%	–
BIDU	New	BAIDU INCspon adr rep a	$1,577,000	–	10,604	–	0.21%	–
ARCC	New	ARES CAPITAL CORP	$1,425,000	–	79,500	–	0.19%	–
NEWT	New	NEWTEK BUSINESS SVCS CORP	$1,378,000	–	72,800	–	0.18%	–
EWG	New	ISHARES INCmsci germany etf	$1,377,000	–	59,859	–	0.18%	–
LLY	New	LILLY ELI & CO	$1,297,000	–	4,000	–	0.17%	–
SPY	New	SPDR S&P 500 ETF TRtr unit	$1,292,000	–	3,426	–	0.17%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$1,270,000	–	4,650	–	0.17%	–
GDX	New	VANECK ETF TRUSTgold miners etf	$1,173,000	–	42,830	–	0.16%	–
ACWI	New	ISHARES TRmsci acwi etf	$1,174,000	–	13,995	–	0.16%	–
TXN	New	TEXAS INSTRS INC	$1,106,000	–	7,198	–	0.15%	–
RTX	New	RAYTHEON TECHNOLOGIES CORP	$1,052,000	–	10,945	–	0.14%	–
SAR	New	SARATOGA INVT CORP	$1,016,000	–	42,400	–	0.14%	–
WM	New	WASTE MGMT INC DEL	$1,010,000	–	6,600	–	0.13%	–
DEO	New	DIAGEO PLCspon adr new	$993,000	–	5,703	–	0.13%	–
ICE	New	INTERCONTINENTAL EXCHANGE IN	$963,000	–	10,239	–	0.13%	–
ZTS	New	ZOETIS INCcl a	$926,000	–	5,386	–	0.12%	–
CBRE	New	CBRE GROUP INCcl a	$871,000	–	11,830	–	0.12%	–
	New	DIMENSIONAL ETF TRUSTus mktwide value	$816,000	–	25,825	–	0.11%	–
HON	New	HONEYWELL INTL INC	$800,000	–	4,605	–	0.11%	–
NEE	New	NEXTERA ENERGY INC	$789,000	–	10,181	–	0.10%	–
LIN	New	LINDE PLC	$760,000	–	2,654	–	0.10%	–
NRZ	New	NEW RESIDENTIAL INVT CORP	$755,000	–	81,000	–	0.10%	–
EIDO	New	ISHARES TRmsci indonia etf	$755,000	–	33,750	–	0.10%	–
ADP	New	AUTOMATIC DATA PROCESSING IN	$726,000	–	3,458	–	0.10%	–
QCOM	New	QUALCOMM INC	$703,000	–	5,500	–	0.09%	–
OEF	New	ISHARES TRs&p 100 etf	$678,000	–	3,929	–	0.09%	–
JNJ	New	JOHNSON & JOHNSON	$673,000	–	3,789	–	0.09%	–
MRK	New	MERCK & CO INC	$672,000	–	7,375	–	0.09%	–
XLK	New	SELECT SECTOR SPDR TRtechnology	$639,000	–	5,023	–	0.08%	–
MAIN	New	MAIN STR CAP CORP	$624,000	–	16,198	–	0.08%	–
STWD	New	STARWOOD PPTY TR INC	$616,000	–	29,500	–	0.08%	–
TSLX	New	SIXTH STREET SPECIALTY LENDI	$611,000	–	33,000	–	0.08%	–
CME	New	CME GROUP INC	$609,000	–	2,975	–	0.08%	–
BXMT	New	BLACKSTONE MTG TR INC	$578,000	–	20,900	–	0.08%	–
GBDC	New	GOLUB CAP BDC INC	$548,000	–	42,250	–	0.07%	–
REGN	New	REGENERON PHARMACEUTICALS	$549,000	–	928	–	0.07%	–
ZBH	New	ZIMMER BIOMET HOLDINGS INC	$547,000	–	5,205	–	0.07%	–
FDUS	New	FIDUS INVT CORP	$543,000	–	31,129	–	0.07%	–
VOO	New	VANGUARD INDEX FDS	$519,000	–	1,495	–	0.07%	–
TPVG	New	TRIPLEPOINT VENTURE GROWTH B	$503,000	–	39,500	–	0.07%	–
EWA	New	ISHARES INCmsci aust etf	$469,000	–	22,100	–	0.06%	–
INCO	New	COLUMBIA ETF TR IIindia consmr etf	$463,000	–	9,589	–	0.06%	–
PFE	New	PFIZER INC	$444,000	–	8,475	–	0.06%	–
ABR	New	ARBOR REALTY TRUST INC	$434,000	–	33,128	–	0.06%	–
VNM	New	VANECK ETF TRUSTvaneck vietnam	$420,000	–	29,164	–	0.06%	–
AGG	New	ISHARES TRcore us aggbd et	$417,000	–	4,100	–	0.06%	–
CI	New	CIGNA CORP NEW	$404,000	–	1,532	–	0.05%	–
PYPL	New	PAYPAL HLDGS INC	$401,000	–	5,735	–	0.05%	–
THD	New	ISHARES INCmsci thailnd etf	$397,000	–	5,760	–	0.05%	–
KMB	New	KIMBERLY-CLARK CORP	$395,000	–	2,925	–	0.05%	–
WOPEY	New	WOODSIDE ENERGY GROUP LTDsponsored adr	$390,000	–	18,070	–	0.05%	–
DIA	New	SPDR DOW JONES INDL AVERAGEut ser 1	$388,000	–	1,260	–	0.05%	–
CQQQ	New	INVESCO EXCH TRADED FD TR IIchina technlgy	$368,000	–	7,284	–	0.05%	–
CSWC	New	CAPITAL SOUTHWEST CORP	$368,000	–	20,000	–	0.05%	–
NKE	New	NIKE INCcl b	$346,000	–	3,389	–	0.05%	–
PRU	New	PRUDENTIAL FINL INC	$335,000	–	3,500	–	0.04%	–
IRM	New	IRON MTN INC NEW	$316,000	–	6,500	–	0.04%	–
INTC	New	INTEL CORP	$308,000	–	8,225	–	0.04%	–
SLB	New	SCHLUMBERGER LTD	$313,000	–	8,760	–	0.04%	–
PFLT	New	PENNANTPARK FLOATING RATE CA	$302,000	–	26,300	–	0.04%	–
NLY	New	ANNALY CAPITAL MANAGEMENT IN	$278,000	–	47,000	–	0.04%	–
TCOM	New	TRIP COM GROUP LTDads	$267,000	–	9,713	–	0.04%	–
CNYA	New	ISHARES TRmsci china a	$248,000	–	6,530	–	0.03%	–
FSK	New	FS KKR CAP CORP	$252,000	–	13,000	–	0.03%	–
AVGO	New	BROADCOM INC	$250,000	–	514	–	0.03%	–
BEPC	New	BROOKFIELD RENEWABLE CORPcl a sub vtg	$227,000	–	6,375	–	0.03%	–
ACN	New	ACCENTURE PLC IRELAND	$221,000	–	795	–	0.03%	–
VHT	New	VANGUARD WORLD FDShealth car etf	$210,000	–	892	–	0.03%	–
ADBE	New	ADOBE SYSTEMS INCORPORATED	$213,000	–	582	–	0.03%	–
EPHE	New	ISHARES TRmsci philips etf	$213,000	–	8,379	–	0.03%	–
AMT	New	AMERICAN TOWER CORP NEW	$201,000	–	788	–	0.03%	–
IQV	New	IQVIA HLDGS INC	$205,000	–	943	–	0.03%	–
DHR	New	DANAHER CORPORATION	$202,000	–	798	–	0.03%	–
	New	GRAB HOLDINGS LIMITEDclass a ord	$58,000	–	22,917	–	0.01%	–

Q4 2021

			Value		Shares		↓ Weighting
ANSS	Exit	ANSYS INC	$0	–	-600	–	-0.02%	–
PLTR	Exit	PALANTIR TECHNOLOGIES INCcl a	$0	–	-8,591	–	-0.02%	–
MCHI	Exit	ISHARES TRmsci china etf	$0	–	-3,200	–	-0.02%	–
AMT	Exit	AMERICAN TOWER CORP NEW	$0	–	-822	–	-0.02%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-7,890	–	-0.02%	–
AGC	Exit	ALTIMETER GROWTH CORPcl a	$0	–	-22,917	–	-0.02%	–
CB	Exit	CHUBB LIMITED	$0	–	-1,400	–	-0.02%	–
EPHE	Exit	ISHARES TRmsci philips etf	$0	–	-8,379	–	-0.02%	–
ACN	Exit	ACCENTURE PLC IRELAND	$0	–	-780	–	-0.02%	–
CRM	Exit	SALESFORCE COM INC	$0	–	-931	–	-0.02%	–
IUSG	Exit	ISHARES TRcore s&p us gwt	$0	–	-2,600	–	-0.03%	–
TCOM	Exit	TRIP COM GROUP LTDads	$0	–	-8,600	–	-0.03%	–
DHR	Exit	DANAHER CORPORATION	$0	–	-876	–	-0.03%	–
IQV	Exit	IQVIA HLDGS INC	$0	–	-1,083	–	-0.03%	–
VIG	Exit	VANGUARD SPECIALIZED FUNDSdiv app etf	$0	–	-1,800	–	-0.03%	–
CNYA	Exit	ISHARES TRmsci china a	$0	–	-6,530	–	-0.03%	–
MMM	Exit	3M CO	$0	–	-1,750	–	-0.03%	–
UBER	Exit	UBER TECHNOLOGIES INC	$0	–	-6,937	–	-0.03%	–
PFE	Exit	PFIZER INC	$0	–	-7,275	–	-0.03%	–
ADBE	Exit	ADOBE SYSTEMS INCORPORATED	$0	–	-560	–	-0.03%	–
CI	Exit	CIGNA CORP NEW	$0	–	-1,677	–	-0.03%	–
SQ	Exit	SQUARE INCcl a	$0	–	-1,611	–	-0.04%	–
KMB	Exit	KIMBERLY-CLARK CORP	$0	–	-2,925	–	-0.04%	–
DIA	Exit	SPDR DOW JONES INDL AVERAGEut ser 1	$0	–	-1,260	–	-0.04%	–
THD	Exit	ISHARES INCmsci thailnd etf	$0	–	-5,760	–	-0.04%	–
CQQQ	Exit	INVESCO EXCH TRADED FD TR IIchina technlgy	$0	–	-7,284	–	-0.05%	–
AGG	Exit	ISHARES TRcore us aggbd et	$0	–	-4,100	–	-0.05%	–
INCO	Exit	COLUMBIA ETF TR IIindia consmr etf	$0	–	-9,589	–	-0.05%	–
REGN	Exit	REGENERON PHARMACEUTICALS	$0	–	-928	–	-0.06%	–
VNM	Exit	VANECK ETF TRUSTvaneck vietnam	$0	–	-29,164	–	-0.06%	–
CME	Exit	CME GROUP INC	$0	–	-2,975	–	-0.06%	–
MRK	Exit	MERCK & CO INC	$0	–	-8,027	–	-0.06%	–
FIS	Exit	FIDELITY NATL INFORMATION SV	$0	–	-4,968	–	-0.06%	–
MDT	Exit	MEDTRONIC PLC	$0	–	-5,161	–	-0.06%	–
ISRG	Exit	INTUITIVE SURGICAL INC	$0	–	-651	–	-0.06%	–
VOO	Exit	VANGUARD INDEX FDS	$0	–	-1,633	–	-0.06%	–
SE	Exit	SEA LTDsponsord ads	$0	–	-2,080	–	-0.07%	–
ADP	Exit	AUTOMATIC DATA PROCESSING IN	$0	–	-3,425	–	-0.07%	–
QCOM	Exit	QUALCOMM INC	$0	–	-5,500	–	-0.07%	–
LIN	Exit	LINDE PLC	$0	–	-2,375	–	-0.07%	–
EIDO	Exit	ISHARES TRmsci indonia etf	$0	–	-33,750	–	-0.07%	–
XLK	Exit	SELECT SECTOR SPDR TRtechnology	$0	–	-5,100	–	-0.08%	–
XRAY	Exit	DENTSPLY SIRONA INC	$0	–	-13,061	–	-0.08%	–
ATVI	Exit	ACTIVISION BLIZZARD INC	$0	–	-10,006	–	-0.08%	–
OEF	Exit	ISHARES TRs&p 100 etf	$0	–	-3,929	–	-0.08%	–
NEE	Exit	NEXTERA ENERGY INC	$0	–	-10,100	–	-0.08%	–
INTC	Exit	INTEL CORP	$0	–	-16,450	–	-0.09%	–
LLY	Exit	LILLY ELI & CO	$0	–	-4,000	–	-0.09%	–
RTX	Exit	RAYTHEON TECHNOLOGIES CORP	$0	–	-10,831	–	-0.09%	–
WM	Exit	WASTE MGMT INC DEL	$0	–	-6,600	–	-0.10%	–
BMY	Exit	BRISTOL-MYERS SQUIBB CO	$0	–	-17,282	–	-0.10%	–
TXN	Exit	TEXAS INSTRS INC	$0	–	-5,600	–	-0.11%	–
EWA	Exit	ISHARES INCmsci aust etf	$0	–	-44,200	–	-0.11%	–
LYB	Exit	LYONDELLBASELL INDUSTRIES N	$0	–	-11,826	–	-0.11%	–
XLF	Exit	SELECT SECTOR SPDR TRfinancial	$0	–	-30,000	–	-0.11%	–
CBRE	Exit	CBRE GROUP INCcl a	$0	–	-11,868	–	-0.11%	–
HON	Exit	HONEYWELL INTL INC	$0	–	-5,577	–	-0.12%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-4,850	–	-0.13%	–
DEO	Exit	DIAGEO PLCspon adr new	$0	–	-6,850	–	-0.13%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-8,303	–	-0.13%	–
ICE	Exit	INTERCONTINENTAL EXCHANGE IN	$0	–	-11,875	–	-0.14%	–
ZTS	Exit	ZOETIS INCcl a	$0	–	-7,315	–	-0.14%	–
SPY	Exit	SPDR S&P 500 ETF TRtr unit	$0	–	-3,426	–	-0.14%	–
EWG	Exit	ISHARES INCmsci germany etf	$0	–	-60,809	–	-0.20%	–
BRKA	Exit	BERKSHIRE HATHAWAY INC DELcl a	$0	–	-5	–	-0.20%	–
PM	Exit	PHILIP MORRIS INTL INC	$0	–	-22,189	–	-0.21%	–
AMED	Exit	AMEDISYS INC	$0	–	-14,469	–	-0.21%	–
EWT	Exit	ISHARES INCmsci taiwan etf	$0	–	-37,741	–	-0.23%	–
EZU	Exit	ISHARES INCmsci eurzone etf	$0	–	-48,791	–	-0.23%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-892	–	-0.24%	–
HE	Exit	HAWAIIAN ELEC INDUSTRIES	$0	–	-60,000	–	-0.24%	–
EQIX	Exit	EQUINIX INC	$0	–	-3,132	–	-0.24%	–
BOH	Exit	BANK HAWAII CORP	$0	–	-32,500	–	-0.26%	–
EOG	Exit	EOG RES INC	$0	–	-34,347	–	-0.27%	–
C	Exit	CITIGROUP INC	$0	–	-43,291	–	-0.30%	–
ORCL	Exit	ORACLE CORP	$0	–	-34,904	–	-0.30%	–
VWO	Exit	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$0	–	-61,030	–	-0.30%	–
PEP	Exit	PEPSICO INC	$0	–	-22,427	–	-0.33%	–
FXI	Exit	ISHARES TRchina lg-cap etf	$0	–	-93,568	–	-0.36%	–
WPM	Exit	WHEATON PRECIOUS METALS CORP	$0	–	-100,000	–	-0.37%	–
GDX	Exit	VANECK ETF TRUSTgold miners etf	$0	–	-130,096	–	-0.38%	–
AWK	Exit	AMERICAN WTR WKS CO INC NEW	$0	–	-22,773	–	-0.38%	–
BSX	Exit	BOSTON SCIENTIFIC CORP	$0	–	-103,644	–	-0.44%	–
MCD	Exit	MCDONALDS CORP	$0	–	-19,983	–	-0.48%	–
VTI	Exit	VANGUARD INDEX FDStotal stk mkt	$0	–	-22,737	–	-0.50%	–
CSCO	Exit	CISCO SYS INC	$0	–	-96,569	–	-0.52%	–
HDB	Exit	HDFC BANK LTDsponsored ads	$0	–	-72,645	–	-0.52%	–
BHP	Exit	BHP GROUP LTDsponsored ads	$0	–	-103,633	–	-0.55%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC	$0	–	-10,358	–	-0.58%	–
MA	Exit	MASTERCARD INCORPORATEDcl a	$0	–	-17,605	–	-0.60%	–
FAST	Exit	FASTENAL CO	$0	–	-130,854	–	-0.67%	–
ALGN	Exit	ALIGN TECHNOLOGY INC	$0	–	-10,560	–	-0.70%	–
DB	Exit	DEUTSCHE BANK A Gnamen akt	$0	–	-600,000	–	-0.76%	–
MU	Exit	MICRON TECHNOLOGY INC	$0	–	-116,201	–	-0.82%	–
LOGI	Exit	LOGITECH INTL S A	$0	–	-96,106	–	-0.85%	–
TEVA	Exit	TEVA PHARMACEUTICAL INDS LTDsponsored ads	$0	–	-980,205	–	-0.94%	–
INDA	Exit	ISHARES TRmsci india etf	$0	–	-197,800	–	-0.95%	–
AZN	Exit	ASTRAZENECA PLCsponsored adr	$0	–	-198,441	–	-1.18%	–
EXAS	Exit	EXACT SCIENCES CORP	$0	–	-125,312	–	-1.18%	–
EEM	Exit	ISHARES TRmsci emg mkt etf	$0	–	-243,696	–	-1.21%	–
PYPL	Exit	PAYPAL HLDGS INC	$0	–	-50,065	–	-1.29%	–
UBS	Exit	UBS GROUP AG	$0	–	-866,398	–	-1.38%	–
EWL	Exit	ISHARES INCmsci switzerland	$0	–	-303,017	–	-1.40%	–
VGK	Exit	VANGUARD INTL EQUITY INDEX Fftse europe etf	$0	–	-229,373	–	-1.49%	–
GOLD	Exit	BARRICK GOLD CORP	$0	–	-913,300	–	-1.63%	–
BIDU	Exit	BAIDU INCspon adr rep a	$0	–	-107,196	–	-1.63%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-110,073	–	-1.78%	–
XLV	Exit	SELECT SECTOR SPDR TRsbi healthcare	$0	–	-148,862	–	-1.87%	–
ALC	Exit	ALCON AG	$0	–	-238,265	–	-1.92%	–
BABA	Exit	ALIBABA GROUP HLDG LTDsponsored ads	$0	–	-152,061	–	-2.22%	–
HD	Exit	HOME DEPOT INC	$0	–	-81,956	–	-2.66%	–
TSM	Exit	TAIWAN SEMICONDUCTOR MFG LTDsponsored ads	$0	–	-251,683	–	-2.78%	–
UNH	Exit	UNITEDHEALTH GROUP INC	$0	–	-75,395	–	-2.91%	–
EBND	Exit	SPDR SER TRblombrg brc emrg	$0	–	-1,257,859	–	-3.14%	–
GLD	Exit	SPDR GOLD TR	$0	–	-195,351	–	-3.17%	–
AAPL	Exit	APPLE INC	$0	–	-233,056	–	-3.26%	–
AMZN	Exit	AMAZON COM INC	$0	–	-10,076	–	-3.27%	–
V	Exit	VISA INC	$0	–	-148,640	–	-3.27%	–
EWJ	Exit	ISHARES INCmsci jpn etf new	$0	–	-559,951	–	-3.89%	–
QQQ	Exit	INVESCO QQQ TRunit ser 1	$0	–	-115,350	–	-4.08%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-134,852	–	-4.52%	–
CWB	Exit	SPDR SER TRblmbrg brc cnvrt	$0	–	-557,878	–	-4.71%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-19,892	–	-5.26%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-196,788	–	-5.48%	–
BUR	Exit	BURFORD CAP LTD	$0	–	-7,647,727	–	-8.26%	–

Q3 2021

			Value		Shares		↓ Weighting
MSFT	Sell	MICROSOFT CORP	$55,478,000	+2.7%	196,788	-1.3%	5.48%	-1.8%
GOOGL	Sell	ALPHABET INCcap stk cl a	$53,182,000	+9.5%	19,892	-0.0%	5.26%	+4.7%
CWB	Sell	SPDR SER TRblmbrg brc cnvrt	$47,615,000	-1.8%	557,878	-0.2%	4.71%	-6.1%
FB	Buy	FACEBOOK INCcl a	$45,767,000	-1.6%	134,852	+0.8%	4.52%	-5.8%
QQQ	Buy	INVESCO QQQ TRunit ser 1	$41,290,000	+1926.0%	115,350	+1906.1%	4.08%	+1834.1%
EWJ	Sell	ISHARES INCmsci jpn etf new	$39,337,000	+3.9%	559,951	-0.1%	3.89%	-0.6%
V	Sell	VISA INC	$33,110,000	-5.9%	148,640	-1.3%	3.27%	-10.0%
AMZN	Buy	AMAZON COM INC	$33,100,000	-3.2%	10,076	+1.3%	3.27%	-7.4%
AAPL	Sell	APPLE INC	$32,977,000	-4.5%	233,056	-7.5%	3.26%	-8.6%
GLD	Buy	SPDR GOLD TR	$32,081,000	-0.7%	195,351	+0.1%	3.17%	-5.0%
EBND	Sell	SPDR SER TRblombrg brc emrg	$31,824,000	-4.5%	1,257,859	-0.2%	3.14%	-8.6%
UNH	Buy	UNITEDHEALTH GROUP INC	$29,460,000	-2.1%	75,395	+0.3%	2.91%	-6.4%
TSM	Buy	TAIWAN SEMICONDUCTOR MFG LTDsponsored ads	$28,100,000	+426.1%	251,683	+0.6%	2.78%	+403.1%
HD	Sell	HOME DEPOT INC	$26,903,000	+2.5%	81,956	-0.4%	2.66%	-2.0%
BABA	Sell	ALIBABA GROUP HLDG LTDsponsored ads	$22,513,000	+422.5%	152,061	-0.0%	2.22%	+400.0%
ALC	Buy	ALCON AG	$19,422,000	+18.6%	238,265	+2.0%	1.92%	+13.5%
XLV	Sell	SELECT SECTOR SPDR TRsbi healthcare	$18,950,000	+0.3%	148,862	-0.8%	1.87%	-4.1%
JPM	Sell	JPMORGAN CHASE & CO	$18,018,000	+5.0%	110,073	-0.3%	1.78%	+0.5%
BIDU	Buy	BAIDU INCspon adr rep a	$16,481,000	+505.7%	107,196	+1.1%	1.63%	+479.7%
GOLD	Buy	BARRICK GOLD CORP	$16,485,000	-12.5%	913,300	+0.3%	1.63%	-16.3%
VGK	Sell	VANGUARD INTL EQUITY INDEX Fftse europe etf	$15,049,000	-3.3%	229,373	-0.9%	1.49%	-7.5%
EWL	Buy	ISHARES INCmsci switzerland	$14,115,000	-2.0%	303,017	+2.3%	1.40%	-6.2%
UBS	Sell	UBS GROUP AG	$13,932,000	-35.7%	866,398	-38.8%	1.38%	-38.5%
PYPL	Sell	PAYPAL HLDGS INC	$13,027,000	-14.2%	50,065	-3.8%	1.29%	-17.9%
EEM	Sell	ISHARES TRmsci emg mkt etf	$12,277,000	-11.0%	243,696	-2.6%	1.21%	-14.9%
EXAS	Buy	EXACT SCIENCES CORP	$11,961,000	-16.7%	125,312	+8.4%	1.18%	-20.4%
AZN	Sell	ASTRAZENECA PLCsponsored adr	$11,918,000	-57.8%	198,441	-15.6%	1.18%	-59.6%
INDA	Sell	ISHARES TRmsci india etf	$9,635,000	+9.6%	197,800	-0.5%	0.95%	+4.8%
TEVA	Sell	TEVA PHARMACEUTICAL INDS LTDsponsored ads	$9,547,000	-2.9%	980,205	-0.7%	0.94%	-7.1%
LOGI	Buy	LOGITECH INTL S A	$8,578,000	-23.2%	96,106	+4.3%	0.85%	-26.6%
MU	Buy	MICRON TECHNOLOGY INC	$8,248,000	+2.9%	116,201	+23.2%	0.82%	-1.6%
ALGN	Buy	ALIGN TECHNOLOGY INC	$7,027,000	+13.3%	10,560	+4.0%	0.70%	+8.4%
FAST	Buy	FASTENAL CO	$6,753,000	+0.7%	130,854	+1.5%	0.67%	-3.6%
MA	Buy	MASTERCARD INCORPORATEDcl a	$6,121,000	+3.8%	17,605	+9.0%	0.60%	-0.7%
TMO	Sell	THERMO FISHER SCIENTIFIC INC	$5,918,000	+13.2%	10,358	-0.1%	0.58%	+8.3%
BHP	Buy	BHP GROUP LTDsponsored ads	$5,546,000	+52.1%	103,633	+3.6%	0.55%	+45.4%
HDB	Buy	HDFC BANK LTDsponsored ads	$5,310,000	+277.9%	72,645	+4.2%	0.52%	+262.1%
CSCO	Buy	CISCO SYS INC	$5,256,000	+3.2%	96,569	+0.5%	0.52%	-1.3%
MCD	Buy	MCDONALDS CORP	$4,818,000	+5.4%	19,983	+1.0%	0.48%	+0.8%
BSX	Buy	BOSTON SCIENTIFIC CORP	$4,497,000	+2.0%	103,644	+0.5%	0.44%	-2.4%
AWK	Buy	AMERICAN WTR WKS CO INC NEW	$3,850,000	+9.8%	22,773	+0.1%	0.38%	+5.2%
GDX	Buy	VANECK ETF TRUSTgold miners etf	$3,834,000	-13.0%	130,096	+0.4%	0.38%	-16.7%
FXI	Sell	ISHARES TRchina lg-cap etf	$3,643,000	-16.7%	93,568	-0.8%	0.36%	-20.4%
PEP	Buy	PEPSICO INC	$3,373,000	+2.2%	22,427	+0.7%	0.33%	-2.3%
VWO	Sell	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$3,052,000	-8.5%	61,030	-0.7%	0.30%	-12.5%
ORCL	Buy	ORACLE CORP	$3,041,000	+12.5%	34,904	+0.6%	0.30%	+7.9%
C	Buy	CITIGROUP INC	$3,038,000	-0.3%	43,291	+0.5%	0.30%	-4.8%
EOG	Buy	EOG RES INC	$2,757,000	-3.0%	34,347	+0.8%	0.27%	-7.5%
EQIX	Buy	EQUINIX INC	$2,475,000	-0.9%	3,132	+0.6%	0.24%	-5.0%
AMED	New	AMEDISYS INC	$2,157,000	–	14,469	–	0.21%	–
PM	Buy	PHILIP MORRIS INTL INC	$2,103,000	-3.8%	22,189	+0.6%	0.21%	-8.0%
EWG	Sell	ISHARES INCmsci germany etf	$2,002,000	-6.2%	60,809	-1.4%	0.20%	-10.0%
ZTS	Buy	ZOETIS INCcl a	$1,420,000	+6.4%	7,315	+2.1%	0.14%	+1.4%
ICE	Buy	INTERCONTINENTAL EXCHANGE IN	$1,363,000	+4.4%	11,875	+7.9%	0.14%	0.0%
JNJ	Buy	JOHNSON & JOHNSON	$1,341,000	-1.8%	8,303	+0.1%	0.13%	-5.7%
DEO	Buy	DIAGEO PLCspon adr new	$1,322,000	+314.4%	6,850	+2.6%	0.13%	+297.0%
BRKB	Buy	BERKSHIRE HATHAWAY INC DELcl b new	$1,324,000	+2.5%	4,850	+4.3%	0.13%	-1.5%
HON	Buy	HONEYWELL INTL INC	$1,184,000	-2.7%	5,577	+0.5%	0.12%	-7.1%
CBRE	Buy	CBRE GROUP INCcl a	$1,155,000	+21.1%	11,868	+6.7%	0.11%	+15.2%
LYB	Sell	LYONDELLBASELL INDUSTRIES N	$1,110,000	-13.8%	11,826	-5.5%	0.11%	-17.3%
ATVI	Sell	ACTIVISION BLIZZARD INC	$774,000	-43.9%	10,006	-30.8%	0.08%	-46.9%
XRAY	Sell	DENTSPLY SIRONA INC	$758,000	-32.3%	13,061	-26.2%	0.08%	-35.3%
ISRG	Buy	INTUITIVE SURGICAL INC	$647,000	+63.0%	651	+50.7%	0.06%	+56.1%
VOO	New	VANGUARD INDEX FDS	$644,000	–	1,633	–	0.06%	–
FIS	Buy	FIDELITY NATL INFORMATION SV	$605,000	-13.4%	4,968	+0.7%	0.06%	-16.7%
CI	Sell	CIGNA CORP NEW	$336,000	-20.2%	1,677	-5.6%	0.03%	-23.3%
VIG	New	VANGUARD SPECIALIZED FUNDSdiv app etf	$277,000	–	1,800	–	0.03%	–
DHR	Sell	DANAHER CORPORATION	$267,000	-1.1%	876	-12.9%	0.03%	-7.1%
IQV	Buy	IQVIA HLDGS INC	$259,000	+7.5%	1,083	+9.1%	0.03%	+4.0%
IUSG	New	ISHARES TRcore s&p us gwt	$266,000	–	2,600	–	0.03%	–
SLB	New	SCHLUMBERGER LTD	$234,000	–	7,890	–	0.02%	–
AMT	Buy	AMERICAN TOWER CORP NEW	$218,000	+6.3%	822	+8.2%	0.02%	+4.8%
DD	Exit	DUPONT DE NEMOURS INC	$0	–	-2,819	–	-0.02%	–
WB	Exit	WEIBO CORPsponsored adr	$0	–	-4,175	–	-0.02%	–
LMND	Exit	LEMONADE INC	$0	–	-2,223	–	-0.02%	–
VB	Exit	VANGUARD INDEX FDSsmall cp etf	$0	–	-2,390	–	-0.06%	–
IDXX	Exit	IDEXX LABS INC	$0	–	-1,297	–	-0.08%	–
CMCSA	Exit	COMCAST CORP NEWcl a	$0	–	-24,010	–	-0.14%	–
AMGN	Exit	AMGEN INC	$0	–	-10,141	–	-0.26%	–
TLT	Exit	ISHARES TR20 yr tr bd etf	$0	–	-187,002	–	-2.79%	–

Q2 2021

			Value		Shares		↓ Weighting
BUR	New	BURFORD CAP LTD	$78,603,000	–	7,647,727	–	8.12%	–
MSFT	New	MICROSOFT CORP	$54,035,000	–	199,464	–	5.58%	–
GOOGL	New	ALPHABET INCcap stk cl a	$48,587,000	–	19,898	–	5.02%	–
CWB	New	SPDR SER TRblmbrg brc cnvrt	$48,493,000	–	559,121	–	5.01%	–
FB	New	FACEBOOK INCcl a	$46,499,000	–	133,729	–	4.80%	–
EWJ	New	ISHARES INCmsci jpn etf new	$37,849,000	–	560,395	–	3.91%	–
V	New	VISA INC	$35,203,000	–	150,554	–	3.64%	–
AAPL	New	APPLE INC	$34,520,000	–	252,042	–	3.57%	–
AMZN	New	AMAZON COM INC	$34,209,000	–	9,944	–	3.53%	–
EBND	New	SPDR SER TRblombrg brc emrg	$33,314,000	–	1,260,445	–	3.44%	–
GLD	New	SPDR GOLD TR	$32,322,000	–	195,144	–	3.34%	–
UNH	New	UNITEDHEALTH GROUP INC	$30,105,000	–	75,180	–	3.11%	–
AZN	New	ASTRAZENECA PLCsponsored adr	$28,211,000	–	235,189	–	2.91%	–
TLT	New	ISHARES TR20 yr tr bd etf	$26,994,000	–	187,002	–	2.79%	–
HD	New	HOME DEPOT INC	$26,249,000	–	82,314	–	2.71%	–
UBS	New	UBS GROUP AG	$21,679,000	–	1,415,198	–	2.24%	–
XLV	New	SELECT SECTOR SPDR TRsbi healthcare	$18,902,000	–	150,072	–	1.95%	–
GOLD	New	BARRICK GOLD CORP	$18,834,000	–	910,723	–	1.95%	–
JPM	New	JPMORGAN CHASE & CO	$17,165,000	–	110,358	–	1.77%	–
ALC	New	ALCON AG	$16,377,000	–	233,691	–	1.69%	–
VGK	New	VANGUARD INTL EQUITY INDEX Fftse europe etf	$15,565,000	–	231,417	–	1.61%	–
PYPL	New	PAYPAL HLDGS INC	$15,175,000	–	52,063	–	1.57%	–
EWL	New	ISHARES INCmsci switzerland	$14,406,000	–	296,227	–	1.49%	–
EXAS	New	EXACT SCIENCES CORP	$14,366,000	–	115,566	–	1.48%	–
EEM	New	ISHARES TRmsci emg mkt etf	$13,792,000	–	250,074	–	1.42%	–
LOGI	New	LOGITECH INTL S A	$11,176,000	–	92,155	–	1.16%	–
TEVA	New	TEVA PHARMACEUTICAL INDS LTDsponsored ads	$9,831,000	–	987,162	–	1.02%	–
INDA	New	ISHARES TRmsci india etf	$8,789,000	–	198,696	–	0.91%	–
MU	New	MICRON TECHNOLOGY INC	$8,013,000	–	94,298	–	0.83%	–
DB	New	DEUTSCHE BANK A Gnamen akt	$7,817,000	–	600,000	–	0.81%	–
FAST	New	FASTENAL CO	$6,703,000	–	128,895	–	0.69%	–
ALGN	New	ALIGN TECHNOLOGY INC	$6,204,000	–	10,154	–	0.64%	–
MA	New	MASTERCARD INCORPORATEDcl a	$5,898,000	–	16,155	–	0.61%	–
TSM	New	TAIWAN SEMICONDUCTOR MFG LTDsponsored ads	$5,341,000	–	250,107	–	0.55%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$5,230,000	–	10,367	–	0.54%	–
CSCO	New	CISCO SYS INC	$5,094,000	–	96,113	–	0.53%	–
VTI	New	VANGUARD INDEX FDStotal stk mkt	$5,066,000	–	22,737	–	0.52%	–
MCD	New	MCDONALDS CORP	$4,571,000	–	19,789	–	0.47%	–
WPM	New	WHEATON PRECIOUS METALS CORP	$4,412,000	–	100,000	–	0.46%	–
GDX	New	VANECK VECTORS ETF TRgold miners etf	$4,405,000	–	129,642	–	0.46%	–
BSX	New	BOSTON SCIENTIFIC CORP	$4,408,000	–	103,079	–	0.46%	–
FXI	New	ISHARES TRchina lg-cap etf	$4,371,000	–	94,335	–	0.45%	–
BABA	New	ALIBABA GROUP HLDG LTDsponsored ads	$4,309,000	–	152,095	–	0.44%	–
BHP	New	BHP GROUP LTDsponsored ads	$3,646,000	–	100,000	–	0.38%	–
AWK	New	AMERICAN WTR WKS CO INC NEW	$3,506,000	–	22,746	–	0.36%	–
VWO	New	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$3,336,000	–	61,430	–	0.34%	–
PEP	New	PEPSICO INC	$3,299,000	–	22,263	–	0.34%	–
C	New	CITIGROUP INC	$3,047,000	–	43,062	–	0.32%	–
EOG	New	EOG RES INC	$2,842,000	–	34,064	–	0.29%	–
BOH	New	BANK HAWAII CORP	$2,737,000	–	32,500	–	0.28%	–
BIDU	New	BAIDU INCspon adr rep a	$2,721,000	–	105,978	–	0.28%	–
ORCL	New	ORACLE CORP	$2,702,000	–	34,713	–	0.28%	–
HE	New	HAWAIIAN ELEC INDUSTRIES	$2,537,000	–	60,000	–	0.26%	–
EQIX	New	EQUINIX INC	$2,498,000	–	3,113	–	0.26%	–
AMGN	New	AMGEN INC	$2,472,000	–	10,141	–	0.26%	–
EWT	New	ISHARES INCmsci taiwan etf	$2,414,000	–	37,741	–	0.25%	–
EZU	New	ISHARES INCmsci eurzone etf	$2,408,000	–	48,791	–	0.25%	–
GOOG	New	ALPHABET INCcap stk cl c	$2,236,000	–	892	–	0.23%	–
PM	New	PHILIP MORRIS INTL INC	$2,185,000	–	22,047	–	0.23%	–
EWG	New	ISHARES INCmsci germany etf	$2,134,000	–	61,683	–	0.22%	–
BRKA	New	BERKSHIRE HATHAWAY INC DELcl a	$2,093,000	–	5	–	0.22%	–
QQQ	New	INVESCO QQQ TRunit ser 1	$2,038,000	–	5,750	–	0.21%	–
SPY	New	SPDR S&P 500 ETF TRtr unit	$1,467,000	–	3,426	–	0.15%	–
HDB	New	HDFC BANK LTDsponsored ads	$1,405,000	–	69,740	–	0.14%	–
ATVI	New	ACTIVISION BLIZZARD INC	$1,380,000	–	14,464	–	0.14%	–
JNJ	New	JOHNSON & JOHNSON	$1,366,000	–	8,293	–	0.14%	–
CMCSA	New	COMCAST CORP NEWcl a	$1,369,000	–	24,010	–	0.14%	–
ZTS	New	ZOETIS INCcl a	$1,335,000	–	7,166	–	0.14%	–
ICE	New	INTERCONTINENTAL EXCHANGE IN	$1,306,000	–	11,005	–	0.14%	–
LYB	New	LYONDELLBASELL INDUSTRIES N	$1,287,000	–	12,509	–	0.13%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$1,292,000	–	4,650	–	0.13%	–
HON	New	HONEYWELL INTL INC	$1,217,000	–	5,548	–	0.13%	–
BMY	New	BRISTOL-MYERS SQUIBB CO	$1,155,000	–	17,282	–	0.12%	–
EWA	New	ISHARES INCmsci aust etf	$1,148,000	–	44,200	–	0.12%	–
XRAY	New	DENTSPLY SIRONA INC	$1,120,000	–	17,700	–	0.12%	–
XLF	New	SELECT SECTOR SPDR TRfinancial	$1,101,000	–	30,000	–	0.11%	–
TXN	New	TEXAS INSTRS INC	$1,077,000	–	5,600	–	0.11%	–
CBRE	New	CBRE GROUP INCcl a	$954,000	–	11,125	–	0.10%	–
WM	New	WASTE MGMT INC DEL	$925,000	–	6,600	–	0.10%	–
INTC	New	INTEL CORP	$924,000	–	16,450	–	0.10%	–
LLY	New	LILLY ELI & CO	$918,000	–	4,000	–	0.10%	–
RTX	New	RAYTHEON TECHNOLOGIES CORP	$924,000	–	10,831	–	0.10%	–
IDXX	New	IDEXX LABS INC	$819,000	–	1,297	–	0.08%	–
QCOM	New	QUALCOMM INC	$786,000	–	5,500	–	0.08%	–
OEF	New	ISHARES TRs&p 100 etf	$771,000	–	3,929	–	0.08%	–
XLK	New	SELECT SECTOR SPDR TRtechnology	$753,000	–	5,100	–	0.08%	–
NEE	New	NEXTERA ENERGY INC	$740,000	–	10,100	–	0.08%	–
FIS	New	FIDELITY NATL INFORMATION SV	$699,000	–	4,934	–	0.07%	–
LIN	New	LINDE PLC	$685,000	–	2,375	–	0.07%	–
EIDO	New	ISHARES TRmsci indonia etf	$684,000	–	33,750	–	0.07%	–
ADP	New	AUTOMATIC DATA PROCESSING IN	$680,000	–	3,425	–	0.07%	–
MDT	New	MEDTRONIC PLC	$641,000	–	5,161	–	0.07%	–
CME	New	CME GROUP INC	$633,000	–	2,975	–	0.06%	–
MRK	New	MERCK & CO INC	$624,000	–	8,027	–	0.06%	–
VNM	New	VANECK VECTORS ETF TRvietnam etf	$606,000	–	29,164	–	0.06%	–
CQQQ	New	INVESCO EXCH TRADED FD TR IIchina technlgy	$613,000	–	7,284	–	0.06%	–
SE	New	SEA LTDsponsord ads	$571,000	–	2,080	–	0.06%	–
VB	New	VANGUARD INDEX FDSsmall cp etf	$538,000	–	2,390	–	0.06%	–
INCO	New	COLUMBIA ETF TR IIindia consmr etf	$518,000	–	9,589	–	0.05%	–
REGN	New	REGENERON PHARMACEUTICALS	$518,000	–	928	–	0.05%	–
AGG	New	ISHARES TRcore us aggbd et	$473,000	–	4,100	–	0.05%	–
THD	New	ISHARES INCmsci thailnd etf	$449,000	–	5,760	–	0.05%	–
DIA	New	SPDR DOW JONES INDL AVERAGEut ser 1	$435,000	–	1,260	–	0.04%	–
CI	New	CIGNA CORP NEW	$421,000	–	1,777	–	0.04%	–
SQ	New	SQUARE INCcl a	$393,000	–	1,611	–	0.04%	–
ISRG	New	INTUITIVE SURGICAL INC	$397,000	–	432	–	0.04%	–
KMB	New	KIMBERLY-CLARK CORP	$391,000	–	2,925	–	0.04%	–
MMM	New	3M CO	$348,000	–	1,750	–	0.04%	–
UBER	New	UBER TECHNOLOGIES INC	$348,000	–	6,937	–	0.04%	–
ADBE	New	ADOBE SYSTEMS INCORPORATED	$328,000	–	560	–	0.03%	–
DEO	New	DIAGEO PLCspon adr new	$319,000	–	6,677	–	0.03%	–
TCOM	New	TRIP COM GROUP LTDads	$305,000	–	8,600	–	0.03%	–
CNYA	New	ISHARES TRmsci china a	$289,000	–	6,530	–	0.03%	–
PFE	New	PFIZER INC	$285,000	–	7,275	–	0.03%	–
AGC	New	ALTIMETER GROWTH CORPcl a	$268,000	–	22,917	–	0.03%	–
DHR	New	DANAHER CORPORATION	$270,000	–	1,006	–	0.03%	–
MCHI	New	ISHARES TRmsci china etf	$264,000	–	3,200	–	0.03%	–
EPHE	New	ISHARES TRmsci philips etf	$259,000	–	8,379	–	0.03%	–
IQV	New	IQVIA HLDGS INC	$241,000	–	993	–	0.02%	–
LMND	New	LEMONADE INC	$243,000	–	2,223	–	0.02%	–
ACN	New	ACCENTURE PLC IRELAND	$230,000	–	780	–	0.02%	–
PLTR	New	PALANTIR TECHNOLOGIES INCcl a	$226,000	–	8,591	–	0.02%	–
WB	New	WEIBO CORPsponsored adr	$220,000	–	4,175	–	0.02%	–
DD	New	DUPONT DE NEMOURS INC	$218,000	–	2,819	–	0.02%	–
CRM	New	SALESFORCE COM INC	$227,000	–	931	–	0.02%	–
CB	New	CHUBB LIMITED	$223,000	–	1,400	–	0.02%	–
ANSS	New	ANSYS INC	$208,000	–	600	–	0.02%	–
AMT	New	AMERICAN TOWER CORP NEW	$205,000	–	760	–	0.02%	–

Q4 2020

			Value		Shares		↓ Weighting
BMYRT	Exit	BRISTOL-MYERS SQUIBB COright 99/99/9999	$0	–	-17,385	–	-0.01%	–
EPHE	Exit	ISHARES TRmsci philips etf	$0	–	-8,379	–	-0.03%	–
IVV	Exit	ISHARES TRcore s&p500 etf	$0	–	-700	–	-0.03%	–
CNYA	Exit	ISHARES TRmsci china a	$0	–	-6,530	–	-0.03%	–
UBER	Exit	UBER TECHNOLOGIES INC	$0	–	-6,937	–	-0.04%	–
SQ	Exit	SQUARE INCcl a	$0	–	-1,611	–	-0.04%	–
TCOM	Exit	TRIP COM GROUP LTDads	$0	–	-8,600	–	-0.04%	–
ISRG	Exit	INTUITIVE SURGICAL INC	$0	–	-385	–	-0.04%	–
MMM	Exit	3M CO	$0	–	-1,750	–	-0.04%	–
ADBE	Exit	ADOBE SYSTEMS INCORPORATED	$0	–	-560	–	-0.04%	–
THD	Exit	ISHARES INCmsci thailnd etf	$0	–	-5,760	–	-0.05%	–
DHR	Exit	DANAHER CORPORATION	$0	–	-1,760	–	-0.05%	–
INCO	Exit	COLUMBIA ETF TR IIindia consmr etf	$0	–	-9,589	–	-0.06%	–
VNM	Exit	VANECK VECTORS ETF TRvietnam etf	$0	–	-29,164	–	-0.06%	–
KMB	Exit	KIMBERLY CLARK CORP	$0	–	-2,925	–	-0.06%	–
CBRE	Exit	CBRE GROUP INCcl a	$0	–	-10,045	–	-0.07%	–
ADP	Exit	AUTOMATIC DATA PROCESSING IN	$0	–	-3,425	–	-0.07%	–
AGG	Exit	ISHARES TRcore us aggbd et	$0	–	-4,100	–	-0.07%	–
DIA	Exit	SPDR DOW JONES INDL AVERAGEut ser 1	$0	–	-1,730	–	-0.07%	–
KO	Exit	COCA COLA CO	$0	–	-10,000	–	-0.07%	–
CME	Exit	CME GROUP INC	$0	–	-2,975	–	-0.07%	–
CQQQ	Exit	INVESCO EXCH TRADED FD TR IIchina technlgy	$0	–	-7,284	–	-0.07%	–
REGN	Exit	REGENERON PHARMACEUTICALS	$0	–	-928	–	-0.07%	–
LYB	Exit	LYONDELLBASELL INDUSTRIES N	$0	–	-7,444	–	-0.07%	–
TEVA	Exit	TEVA PHARMACEUTICAL INDS LTDsponsored ads	$0	–	-59,695	–	-0.08%	–
IDXX	Exit	IDEXX LABS INC	$0	–	-1,457	–	-0.08%	–
EIDO	Exit	ISHARES TRmsci indonia etf	$0	–	-33,750	–	-0.08%	–
F	Exit	FORD MTR CO DEL	$0	–	-87,647	–	-0.08%	–
BIDU	Exit	BAIDU INCspon adr rep a	$0	–	-4,717	–	-0.08%	–
RTX	Exit	RAYTHEON TECHNOLOGIES CORP	$0	–	-10,331	–	-0.08%	–
LIN	Exit	LINDE PLC	$0	–	-2,545	–	-0.08%	–
MRK	Exit	MERCK & CO. INC	$0	–	-7,374	–	-0.09%	–
XLK	Exit	SELECT SECTOR SPDR TRtechnology	$0	–	-5,400	–	-0.09%	–
QCOM	Exit	QUALCOMM INC	$0	–	-5,500	–	-0.09%	–
FLT	Exit	FLEETCOR TECHNOLOGIES INC	$0	–	-2,787	–	-0.09%	–
MDT	Exit	MEDTRONIC PLC	$0	–	-6,466	–	-0.10%	–
NEE	Exit	NEXTERA ENERGY INC	$0	–	-2,525	–	-0.10%	–
FIS	Exit	FIDELITY NATL INFORMATION SV	$0	–	-4,823	–	-0.10%	–
XLF	Exit	SELECT SECTOR SPDR TRsbi int-finl	$0	–	-30,000	–	-0.10%	–
LLY	Exit	LILLY ELI & CO	$0	–	-4,900	–	-0.10%	–
XRAY	Exit	DENTSPLY SIRONA INC	$0	–	-17,750	–	-0.11%	–
TXN	Exit	TEXAS INSTRS INC	$0	–	-5,600	–	-0.11%	–
EWA	Exit	ISHARES INCmsci aust etf	$0	–	-44,200	–	-0.12%	–
DIS	Exit	DISNEY WALT CO	$0	–	-7,850	–	-0.14%	–
ICE	Exit	INTERCONTINENTAL EXCHANGE IN	$0	–	-9,846	–	-0.14%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-4,650	–	-0.14%	–
WM	Exit	WASTE MGMT INC DEL	$0	–	-9,400	–	-0.15%	–
BMY	Exit	BRISTOL-MYERS SQUIBB CO	$0	–	-17,784	–	-0.15%	–
FLIR	Exit	FLIR SYS INC	$0	–	-30,180	–	-0.15%	–
NEM	Exit	NEWMONT CORP	$0	–	-17,149	–	-0.15%	–
EOG	Exit	EOG RES INC	$0	–	-30,580	–	-0.16%	–
CMCSA	Exit	COMCAST CORP NEWcl a	$0	–	-24,010	–	-0.16%	–
PFE	Exit	PFIZER INC	$0	–	-30,652	–	-0.16%	–
FHB	Exit	FIRST HAWAIIAN INC	$0	–	-80,000	–	-0.16%	–
HON	Exit	HONEYWELL INTL INC	$0	–	-7,195	–	-0.17%	–
MU	Exit	MICRON TECHNOLOGY INC	$0	–	-27,962	–	-0.18%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-906	–	-0.19%	–
ZTS	Exit	ZOETIS INCcl a	$0	–	-8,144	–	-0.19%	–
PM	Exit	PHILIP MORRIS INTL INC	$0	–	-18,412	–	-0.19%	–
VOO	Exit	VANGUARD INDEX FDS	$0	–	-4,576	–	-0.20%	–
C	Exit	CITIGROUP INC	$0	–	-34,132	–	-0.21%	–
FEZ	Exit	SPDR INDEX SHS FDSeuro stoxx 50	$0	–	-42,000	–	-0.22%	–
BRKA	Exit	BERKSHIRE HATHAWAY INC DELcl a	$0	–	-5	–	-0.22%	–
EWG	Exit	ISHARES INCmsci germany etf	$0	–	-56,099	–	-0.23%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC	$0	–	-3,725	–	-0.23%	–
BOH	Exit	BANK HAWAII CORP	$0	–	-33,615	–	-0.24%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-11,918	–	-0.25%	–
EWT	Exit	ISHARES INCmsci taiwan etf	$0	–	-40,700	–	-0.26%	–
AMGN	Exit	AMGEN INC	$0	–	-7,215	–	-0.26%	–
ATVI	Exit	ACTIVISION BLIZZARD INC	$0	–	-22,896	–	-0.26%	–
HE	Exit	HAWAIIAN ELEC INDUSTRIES	$0	–	-60,000	–	-0.28%	–
EZU	Exit	ISHARES INCmsci eurzone etf	$0	–	-53,963	–	-0.29%	–
SPY	Exit	SPDR S&P 500 ETF TRtr unit	$0	–	-6,322	–	-0.30%	–
QQQ	Exit	INVESCO QQQ TRunit ser 1	$0	–	-7,950	–	-0.31%	–
PEP	Exit	PEPSICO INC	$0	–	-16,030	–	-0.31%	–
AWK	Exit	AMERICAN WTR WKS CO INC NEW	$0	–	-15,792	–	-0.32%	–
LOGI	Exit	LOGITECH INTL S A	$0	–	-30,000	–	-0.33%	–
BHP	Exit	BHP GROUP LTDsponsored ads	$0	–	-100,000	–	-0.36%	–
VWO	Exit	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$0	–	-59,900	–	-0.36%	–
ABBV	Exit	ABBVIE INC	$0	–	-30,047	–	-0.37%	–
LDOS	Exit	LEIDOS HOLDINGS INC	$0	–	-30,046	–	-0.38%	–
CSCO	Exit	CISCO SYS INC	$0	–	-73,467	–	-0.41%	–
ORCL	Exit	ORACLE CORP	$0	–	-53,668	–	-0.45%	–
TSM	Exit	TAIWAN SEMICONDUCTOR MFG LTDsponsored ads	$0	–	-235,405	–	-0.50%	–
MCD	Exit	MCDONALDS CORP	$0	–	-16,062	–	-0.50%	–
ALGN	Exit	ALIGN TECHNOLOGY INC	$0	–	-11,142	–	-0.51%	–
T	Exit	AT&T INC	$0	–	-139,841	–	-0.56%	–
GDX	Exit	VANECK VECTORS ETF TRgold miners etf	$0	–	-102,533	–	-0.56%	–
MA	Exit	MASTERCARD INCORPORATEDcl a	$0	–	-12,840	–	-0.61%	–
FXI	Exit	ISHARES TRchina lg-cap etf	$0	–	-115,548	–	-0.68%	–
WPM	Exit	WHEATON PRECIOUS METALS CORP	$0	–	-100,000	–	-0.69%	–
DB	Exit	DEUTSCHE BANK A Gnamen akt	$0	–	-600,000	–	-0.71%	–
BABA	Exit	ALIBABA GROUP HLDG LTDsponsored ads	$0	–	-147,334	–	-0.74%	–
GOLD	Exit	BARRICK GOLD CORP	$0	–	-201,498	–	-0.80%	–
INDA	Exit	ISHARES TRmsci india etf	$0	–	-170,153	–	-0.81%	–
INTC	Exit	INTEL CORP	$0	–	-119,094	–	-0.87%	–
FAST	Exit	FASTENAL CO	$0	–	-142,831	–	-0.91%	–
PYPL	Exit	PAYPAL HLDGS INC	$0	–	-41,488	–	-1.15%	–
EXAS	Exit	EXACT SCIENCES CORP	$0	–	-82,273	–	-1.18%	–
MCHI	Exit	ISHARES TRmsci china etf	$0	–	-116,536	–	-1.22%	–
ACGL	Exit	ARCH CAP GROUP LTDord	$0	–	-338,367	–	-1.39%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-106,259	–	-1.44%	–
ALC	Exit	ALCON AG	$0	–	-180,177	–	-1.44%	–
UBS	Exit	UBS GROUP AG	$0	–	-926,398	–	-1.46%	–
EEM	Exit	ISHARES TRmsci emg mkt etf	$0	–	-260,175	–	-1.61%	–
EWL	Exit	ISHARES INCmsci switzerland	$0	–	-280,228	–	-1.62%	–
VGK	Exit	VANGUARD INTL EQUITY INDEX Fftse europe etf	$0	–	-238,363	–	-1.76%	–
XLV	Exit	SELECT SECTOR SPDR TRsbi healthcare	$0	–	-147,797	–	-2.19%	–
HD	Exit	HOME DEPOT INC	$0	–	-82,462	–	-3.22%	–
UNH	Exit	UNITEDHEALTH GROUP INC	$0	–	-75,346	–	-3.30%	–
EBND	Exit	SPDR SER TRblombrg brc emrg	$0	–	-907,917	–	-3.36%	–
AZN	Exit	ASTRAZENECA PLCsponsored adr	$0	–	-224,910	–	-3.46%	–
OEF	Exit	ISHARES TRs&p 100 etf	$0	–	-164,298	–	-3.60%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-19,786	–	-4.08%	–
AMZN	Exit	AMAZON COM INC	$0	–	-9,219	–	-4.08%	–
V	Exit	VISA INC	$0	–	-146,873	–	-4.13%	–
EWJ	Exit	ISHARES INCmsci jpn etf new	$0	–	-520,492	–	-4.32%	–
CWB	Exit	SPDR SER TRblmbrg brc cnvrt	$0	–	-487,472	–	-4.72%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-137,057	–	-5.05%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-191,192	–	-5.66%	–
GLD	Exit	SPDR GOLD TR	$0	–	-245,999	–	-6.13%	–
AAPL	Exit	APPLE INC	$0	–	-389,054	–	-6.34%	–

Q3 2020

			Value		Shares		↓ Weighting
AAPL	Buy	APPLE INC	$45,056,000	+10.3%	389,054	+247.6%	6.34%	+8.3%
GLD	Buy	SPDR GOLD TR	$43,571,000	+8.0%	245,999	+2.1%	6.13%	+6.0%
MSFT	Sell	MICROSOFT CORP	$40,213,000	-11.0%	191,192	-13.9%	5.66%	-12.6%
FB	Sell	FACEBOOK INCcl a	$35,895,000	+8.0%	137,057	-6.3%	5.05%	+6.0%
CWB	Sell	SPDR SER TRblmbrg brc cnvrt	$33,582,000	+10.2%	487,472	-3.2%	4.72%	+8.2%
EWJ	Sell	ISHARES INCmsci jpn etf new	$30,745,000	+3.4%	520,492	-3.8%	4.32%	+1.5%
V	Sell	VISA INC	$29,370,000	+1.8%	146,873	-1.7%	4.13%	-0.1%
AMZN	Sell	AMAZON COM INC	$29,028,000	+13.1%	9,219	-0.9%	4.08%	+11.0%
GOOGL	Sell	ALPHABET INCcap stk cl a	$28,998,000	-3.1%	19,786	-6.3%	4.08%	-4.9%
OEF	Sell	ISHARES TRs&p 100 etf	$25,586,000	-4.6%	164,298	-12.8%	3.60%	-6.4%
AZN	Sell	ASTRAZENECA PLCsponsored adr	$24,590,000	+3.2%	224,910	-1.8%	3.46%	+1.3%
EBND	Buy	SPDR SER TRblombrg brc emrg	$23,860,000	+155.8%	907,917	+155.1%	3.36%	+151.1%
UNH	Buy	UNITEDHEALTH GROUP INC	$23,491,000	+55.4%	75,346	+47.0%	3.30%	+52.4%
HD	Sell	HOME DEPOT INC	$22,901,000	+9.8%	82,462	-1.0%	3.22%	+7.7%
XLV	Sell	SELECT SECTOR SPDR TRsbi healthcare	$15,590,000	+2.3%	147,797	-3.0%	2.19%	+0.3%
VGK	Sell	VANGUARD INTL EQUITY INDEX Fftse europe etf	$12,497,000	+2.1%	238,363	-2.0%	1.76%	+0.2%
EWL	Buy	ISHARES INCmsci switzerland	$11,509,000	+150.1%	280,228	+137.3%	1.62%	+145.3%
EEM	Sell	ISHARES TRmsci emg mkt etf	$11,471,000	+8.3%	260,175	-1.8%	1.61%	+6.3%
UBS	Sell	UBS GROUP AG	$10,386,000	-4.8%	926,398	-2.2%	1.46%	-6.5%
ALC	Sell	ALCON AG	$10,257,000	-5.2%	180,177	-4.4%	1.44%	-6.9%
JPM	Sell	JPMORGAN CHASE & CO	$10,230,000	+1.4%	106,259	-0.9%	1.44%	-0.5%
ACGL	Buy	ARCH CAP GROUP LTDord	$9,897,000	+17.0%	338,367	+14.6%	1.39%	+14.8%
MCHI	Sell	ISHARES TRmsci china etf	$8,643,000	-31.1%	116,536	-39.2%	1.22%	-32.4%
EXAS	Sell	EXACT SCIENCES CORP	$8,388,000	+16.3%	82,273	-0.9%	1.18%	+14.1%
PYPL	Buy	PAYPAL HLDGS INC	$8,174,000	+18.2%	41,488	+4.5%	1.15%	+16.0%
FAST	Buy	FASTENAL CO	$6,440,000	+5.7%	142,831	+0.5%	0.91%	+3.8%
INTC	Buy	INTEL CORP	$6,167,000	-3.4%	119,094	+11.6%	0.87%	-5.1%
INDA	Sell	ISHARES TRmsci india etf	$5,758,000	-26.1%	170,153	-36.6%	0.81%	-27.5%
GOLD	Sell	BARRICK GOLD CORP	$5,664,000	+3.6%	201,498	-0.7%	0.80%	+1.7%
BABA	Buy	ALIBABA GROUP HLDG LTDsponsored ads	$5,239,000	+79.8%	147,334	+36.7%	0.74%	+76.3%
FXI	Buy	ISHARES TRchina lg-cap etf	$4,853,000	+5.9%	115,548	+0.1%	0.68%	+4.0%
MA	Buy	MASTERCARD INCORPORATEDcl a	$4,342,000	+23.2%	12,840	+7.7%	0.61%	+21.0%
GDX	Buy	VANECK VECTORS ETF TRgold miners etf	$4,015,000	+9.1%	102,533	+2.2%	0.56%	+7.0%
T	Buy	AT&T INC	$3,987,000	+2.0%	139,841	+8.2%	0.56%	+0.2%
ALGN	Buy	ALIGN TECHNOLOGY INC	$3,647,000	+24.2%	11,142	+4.1%	0.51%	+21.9%
MCD	Buy	MCDONALDS CORP	$3,525,000	+23.9%	16,062	+4.1%	0.50%	+21.6%
TSM	Buy	TAIWAN SEMICONDUCTOR MFG LTDsponsored ads	$3,519,000	+44.2%	235,405	+2.3%	0.50%	+41.4%
ORCL	Buy	ORACLE CORP	$3,204,000	+14.1%	53,668	+5.6%	0.45%	+11.9%
CSCO	Buy	CISCO SYS INC	$2,894,000	-10.0%	73,467	+6.5%	0.41%	-11.7%
LDOS	Buy	LEIDOS HOLDINGS INC	$2,679,000	-1.1%	30,046	+3.9%	0.38%	-2.8%
ABBV	Buy	ABBVIE INC	$2,632,000	-9.5%	30,047	+1.4%	0.37%	-11.3%
VWO	Buy	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$2,590,000	+9.5%	59,900	+0.3%	0.36%	+7.4%
LOGI	Sell	LOGITECH INTL S A	$2,341,000	+10.8%	30,000	-7.3%	0.33%	+8.6%
AWK	Buy	AMERICAN WTR WKS CO INC NEW	$2,288,000	+20.5%	15,792	+7.0%	0.32%	+18.4%
PEP	Buy	PEPSICO INC	$2,222,000	+9.8%	16,030	+4.8%	0.31%	+7.9%
QQQ	Sell	INVESCO QQQ TRunit ser 1	$2,209,000	-85.8%	7,950	-87.4%	0.31%	-86.1%
EZU	Buy	ISHARES INCmsci eurzone etf	$2,046,000	+94.1%	53,963	+86.9%	0.29%	+90.7%
AMGN	Buy	AMGEN INC	$1,834,000	+12.5%	7,215	+4.4%	0.26%	+10.3%
TMO	Buy	THERMO FISHER SCIENTIFIC INC	$1,645,000	+29.7%	3,725	+6.4%	0.23%	+26.9%
EWG	Sell	ISHARES INCmsci germany etf	$1,634,000	-23.8%	56,099	-29.0%	0.23%	-25.1%
FEZ	Sell	SPDR INDEX SHS FDSeuro stoxx 50	$1,527,000	-0.7%	42,000	-3.0%	0.22%	-2.7%
C	Buy	CITIGROUP INC	$1,471,000	-11.4%	34,132	+5.0%	0.21%	-13.0%
VOO	Sell	VANGUARD INDEX FDS	$1,408,000	-80.5%	4,576	-82.0%	0.20%	-80.9%
PM	Buy	PHILIP MORRIS INTL INC	$1,381,000	+16.0%	18,412	+8.3%	0.19%	+13.5%
MU	Buy	MICRON TECHNOLOGY INC	$1,313,000	-3.4%	27,962	+6.0%	0.18%	-5.1%
EOG	Buy	EOG RES INC	$1,099,000	-25.6%	30,580	+4.9%	0.16%	-26.9%
NEM	Sell	NEWMONT CORP	$1,088,000	-11.3%	17,149	-13.7%	0.15%	-13.1%
FLIR	Buy	FLIR SYS INC	$1,082,000	-4.6%	30,180	+7.9%	0.15%	-6.7%
BMY	Sell	BRISTOL-MYERS SQUIBB CO	$1,072,000	+2.5%	17,784	-0.0%	0.15%	+0.7%
ICE	Sell	INTERCONTINENTAL EXCHANGE IN	$985,000	+0.3%	9,846	-8.2%	0.14%	-1.4%
EWA	Sell	ISHARES INCmsci aust etf	$872,000	-62.8%	44,200	-63.7%	0.12%	-63.4%
FLT	Sell	FLEETCOR TECHNOLOGIES INC	$664,000	-5.4%	2,787	-0.1%	0.09%	-7.9%
MRK	Buy	MERCK & CO. INC	$612,000	+11.9%	7,374	+4.2%	0.09%	+10.3%
F	Sell	FORD MTR CO DEL	$584,000	+7.6%	87,647	-1.9%	0.08%	+5.1%
IDXX	Buy	IDEXX LABS INC	$573,000	+43.6%	1,457	+20.7%	0.08%	+42.1%
TEVA	Sell	TEVA PHARMACEUTICAL INDS LTDsponsored ads	$541,000	-32.4%	59,695	-10.2%	0.08%	-33.9%
LYB	Buy	LYONDELLBASELL INDUSTRIES N	$525,000	+21.8%	7,444	+13.4%	0.07%	+19.4%
CBRE	Sell	CBRE GROUP INCcl a	$472,000	-5.0%	10,045	-8.6%	0.07%	-7.0%
DHR	New	DANAHER CORPORATION	$379,000	–	1,760	–	0.05%	–
ISRG	New	INTUITIVE SURGICAL INC	$273,000	–	385	–	0.04%	–
SQ	New	SQUARE INCcl a	$262,000	–	1,611	–	0.04%	–
GMF	Exit	SPDR INDEX SHS FDSasia pacif etf	$0	–	-2,218	–	-0.03%	–
DISCK	Exit	DISCOVERY INC	$0	–	-16,200	–	-0.04%	–
EFA	Exit	ISHARES TRmsci eafe etf	$0	–	-13,331	–	-0.12%	–
EMD	Exit	WESTERN ASSET EMERGING MKTS	$0	–	-667,582	–	-1.18%	–
ELD	Exit	WISDOMTREE TRem lcl debt fd	$0	–	-290,542	–	-1.33%	–

Q2 2020

			Value		Shares		↓ Weighting
MSFT	New	MICROSOFT CORP	$45,165,000	–	221,932	–	6.48%	–
AAPL	New	APPLE INC	$40,833,000	–	111,932	–	5.85%	–
GLD	New	SPDR GOLD TR	$40,343,000	–	241,038	–	5.78%	–
FB	New	FACEBOOK INCcl a	$33,221,000	–	146,305	–	4.76%	–
CWB	New	SPDR SER TRblmbrg brc cnvrt	$30,469,000	–	503,627	–	4.37%	–
GOOGL	New	ALPHABET INCcap stk cl a	$29,939,000	–	21,113	–	4.29%	–
EWJ	New	ISHARES INCmsci jpn etf new	$29,725,000	–	541,238	–	4.26%	–
V	New	VISA INC	$28,853,000	–	149,366	–	4.14%	–
OEF	New	ISHARES TRs&p 100 etf	$26,826,000	–	188,361	–	3.85%	–
AMZN	New	AMAZON COM INC	$25,665,000	–	9,303	–	3.68%	–
AZN	New	ASTRAZENECA PLCsponsored adr	$23,824,000	–	228,968	–	3.42%	–
HD	New	HOME DEPOT INC	$20,862,000	–	83,280	–	2.99%	–
QQQ	New	INVESCO QQQ TRunit ser 1	$15,573,000	–	62,895	–	2.23%	–
XLV	New	SELECT SECTOR SPDR TRsbi healthcare	$15,244,000	–	152,338	–	2.19%	–
UNH	New	UNITEDHEALTH GROUP INC	$15,121,000	–	51,267	–	2.17%	–
MCHI	New	ISHARES TRmsci china etf	$12,550,000	–	191,747	–	1.80%	–
VGK	New	VANGUARD INTL EQUITY INDEX Fftse europe etf	$12,239,000	–	243,175	–	1.76%	–
UBS	New	UBS GROUP AG	$10,905,000	–	947,568	–	1.56%	–
ALC	New	ALCON AG	$10,814,000	–	188,497	–	1.55%	–
EEM	New	ISHARES TRmsci emg mkt etf	$10,596,000	–	264,968	–	1.52%	–
JPM	New	JPMORGAN CHASE & CO	$10,086,000	–	107,228	–	1.45%	–
EBND	New	SPDR SER TRblombrg brc emrg	$9,329,000	–	355,916	–	1.34%	–
ELD	New	WISDOMTREE TRem lcl debt fd	$9,277,000	–	290,542	–	1.33%	–
ACGL	New	ARCH CAP GROUP LTDord	$8,458,000	–	295,220	–	1.21%	–
EMD	New	WESTERN ASSET EMERGING MKTS	$8,225,000	–	667,582	–	1.18%	–
INDA	New	ISHARES TRmsci india etf	$7,789,000	–	268,497	–	1.12%	–
EXAS	New	EXACT SCIENCES CORP	$7,215,000	–	82,988	–	1.03%	–
VOO	New	VANGUARD INDEX FDS	$7,213,000	–	25,449	–	1.03%	–
PYPL	New	PAYPAL HLDGS INC	$6,915,000	–	39,688	–	0.99%	–
INTC	New	INTEL CORP	$6,385,000	–	106,715	–	0.92%	–
FAST	New	FASTENAL CO	$6,090,000	–	142,165	–	0.87%	–
DB	New	DEUTSCHE BANK A Gnamen akt	$5,704,000	–	600,000	–	0.82%	–
GOLD	New	BARRICK GOLD CORPORATION	$5,469,000	–	203,000	–	0.78%	–
EWL	New	ISHARES INCmsci switzerland	$4,602,000	–	118,113	–	0.66%	–
FXI	New	ISHARES TRchina lg-cap etf	$4,583,000	–	115,448	–	0.66%	–
WPM	New	WHEATON PRECIOUS METALS CORP	$4,384,000	–	100,000	–	0.63%	–
T	New	AT&T INC	$3,908,000	–	129,262	–	0.56%	–
GDX	New	VANECK VECTORS ETF TRgold miners etf	$3,680,000	–	100,333	–	0.53%	–
MA	New	MASTERCARD INCORPORATEDcl a	$3,525,000	–	11,921	–	0.50%	–
CSCO	New	CISCO SYS INC	$3,217,000	–	68,979	–	0.46%	–
ALGN	New	ALIGN TECHNOLOGY INC	$2,937,000	–	10,702	–	0.42%	–
BABA	New	ALIBABA GROUP HLDG LTDsponsored ads	$2,914,000	–	107,751	–	0.42%	–
ABBV	New	ABBVIE INC	$2,908,000	–	29,622	–	0.42%	–
MCD	New	MCDONALDS CORP	$2,846,000	–	15,426	–	0.41%	–
ORCL	New	ORACLE CORP	$2,808,000	–	50,799	–	0.40%	–
LDOS	New	LEIDOS HOLDINGS INC	$2,709,000	–	28,920	–	0.39%	–
BHP	New	BHP GROUP LTDsponsored ads	$2,466,000	–	100,000	–	0.35%	–
TSM	New	TAIWAN SEMICONDUCTOR MFG LTDsponsored ads	$2,441,000	–	230,130	–	0.35%	–
VWO	New	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$2,365,000	–	59,700	–	0.34%	–
EWA	New	ISHARES INCmsci aust etf	$2,347,000	–	121,788	–	0.34%	–
HE	New	HAWAIIAN ELEC INDUSTRIES	$2,164,000	–	60,000	–	0.31%	–
EWG	New	ISHARES INCmsci germany etf	$2,143,000	–	79,056	–	0.31%	–
LOGI	New	LOGITECH INTL S A	$2,112,000	–	32,350	–	0.30%	–
BOH	New	BANK HAWAII CORP	$2,064,000	–	33,615	–	0.30%	–
PEP	New	PEPSICO INC	$2,024,000	–	15,301	–	0.29%	–
SPY	New	SPDR S&P 500 ETF TRtr unit	$1,951,000	–	6,322	–	0.28%	–
AWK	New	AMERICAN WTR WKS CO INC NEW	$1,898,000	–	14,753	–	0.27%	–
ATVI	New	ACTIVISION BLIZZARD INC	$1,738,000	–	22,896	–	0.25%	–
JNJ	New	JOHNSON & JOHNSON	$1,676,000	–	11,918	–	0.24%	–
C	New	CITIGROUP INC	$1,660,000	–	32,495	–	0.24%	–
EWT	New	ISHARES INCmsci taiwan etf	$1,637,000	–	40,700	–	0.24%	–
AMGN	New	AMGEN INC	$1,630,000	–	6,912	–	0.23%	–
FEZ	New	SPDR INDEX SHS FDSeuro stoxx 50	$1,538,000	–	43,300	–	0.22%	–
EOG	New	EOG RES INC	$1,477,000	–	29,150	–	0.21%	–
FHB	New	FIRST HAWAIIAN INC	$1,379,000	–	80,000	–	0.20%	–
MU	New	MICRON TECHNOLOGY INC	$1,359,000	–	26,387	–	0.20%	–
BRKA	New	BERKSHIRE HATHAWAY INC DELcl a	$1,337,000	–	5	–	0.19%	–
GOOG	New	ALPHABET INCcap stk cl c	$1,281,000	–	906	–	0.18%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$1,268,000	–	3,500	–	0.18%	–
NEM	New	NEWMONT CORP	$1,227,000	–	19,868	–	0.18%	–
PM	New	PHILIP MORRIS INTL INC	$1,191,000	–	16,995	–	0.17%	–
FLIR	New	FLIR SYS INC	$1,134,000	–	27,963	–	0.16%	–
ZTS	New	ZOETIS INCcl a	$1,116,000	–	8,144	–	0.16%	–
EZU	New	ISHARES INCmsci eurzone etf	$1,054,000	–	28,880	–	0.15%	–
BMY	New	BRISTOL-MYERS SQUIBB CO	$1,046,000	–	17,785	–	0.15%	–
HON	New	HONEYWELL INTL INC	$1,040,000	–	7,195	–	0.15%	–
PFE	New	PFIZER INC	$1,002,000	–	30,652	–	0.14%	–
WM	New	WASTE MGMT INC DEL	$996,000	–	9,400	–	0.14%	–
ICE	New	INTERCONTINENTAL EXCHANGE IN	$982,000	–	10,724	–	0.14%	–
CMCSA	New	COMCAST CORP NEWcl a	$936,000	–	24,010	–	0.13%	–
DIS	New	DISNEY WALT CO	$875,000	–	7,850	–	0.12%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$830,000	–	4,650	–	0.12%	–
EFA	New	ISHARES TRmsci eafe etf	$811,000	–	13,331	–	0.12%	–
TEVA	New	TEVA PHARMACEUTICAL INDS LTDsponsored ads	$800,000	–	66,445	–	0.12%	–
LLY	New	LILLY ELI & CO	$804,000	–	4,900	–	0.12%	–
XRAY	New	DENTSPLY SIRONA INC	$782,000	–	17,750	–	0.11%	–
TXN	New	TEXAS INSTRS INC	$711,000	–	5,600	–	0.10%	–
FLT	New	FLEETCOR TECHNOLOGIES INC	$702,000	–	2,790	–	0.10%	–
XLF	New	SELECT SECTOR SPDR TRsbi int-finl	$694,000	–	30,000	–	0.10%	–
FIS	New	FIDELITY NATL INFORMATION SV	$647,000	–	4,823	–	0.09%	–
RTX	New	RAYTHEON TECHNOLOGIES CORP	$637,000	–	10,331	–	0.09%	–
NEE	New	NEXTERA ENERGY INC	$606,000	–	2,525	–	0.09%	–
EIDO	New	ISHARES TRmsci indonia etf	$608,000	–	33,750	–	0.09%	–
MDT	New	MEDTRONIC PLC	$593,000	–	6,466	–	0.08%	–
REGN	New	REGENERON PHARMACEUTICALS	$579,000	–	928	–	0.08%	–
BIDU	New	BAIDU INCspon adr rep a	$566,000	–	4,717	–	0.08%	–
XLK	New	SELECT SECTOR SPDR TRtechnology	$564,000	–	5,400	–	0.08%	–
F	New	FORD MTR CO DEL	$543,000	–	89,300	–	0.08%	–
MRK	New	MERCK & CO. INC	$547,000	–	7,075	–	0.08%	–
LIN	New	LINDE PLC	$540,000	–	2,545	–	0.08%	–
ADP	New	AUTOMATIC DATA PROCESSING IN	$510,000	–	3,425	–	0.07%	–
QCOM	New	QUALCOMM INC	$502,000	–	5,500	–	0.07%	–
CBRE	New	CBRE GROUP INCcl a	$497,000	–	10,996	–	0.07%	–
AGG	New	ISHARES TRcore us aggbd et	$485,000	–	4,100	–	0.07%	–
CME	New	CME GROUP INC	$484,000	–	2,975	–	0.07%	–
CQQQ	New	INVESCO EXCH TRADED FD TR IIchina technlgy	$462,000	–	7,284	–	0.07%	–
DIA	New	SPDR DOW JONES INDL AVERAGEut ser 1	$446,000	–	1,730	–	0.06%	–
KO	New	COCA COLA CO	$447,000	–	10,000	–	0.06%	–
LYB	New	LYONDELLBASELL INDUSTRIES N	$431,000	–	6,563	–	0.06%	–
KMB	New	KIMBERLY CLARK CORP	$413,000	–	2,925	–	0.06%	–
THD	New	ISHARES INCmsci thailnd etf	$407,000	–	5,760	–	0.06%	–
IDXX	New	IDEXX LABS INC	$399,000	–	1,207	–	0.06%	–
VNM	New	VANECK VECTORS ETF TRvietnam etf	$392,000	–	29,164	–	0.06%	–
INCO	New	COLUMBIA ETF TR IIindia consmr etf	$362,000	–	9,589	–	0.05%	–
DISCK	New	DISCOVERY INC	$312,000	–	16,200	–	0.04%	–
MMM	New	3M CO	$273,000	–	1,750	–	0.04%	–
ADBE	New	ADOBE INC	$244,000	–	560	–	0.04%	–
GMF	New	SPDR INDEX SHS FDSasia pacif etf	$220,000	–	2,218	–	0.03%	–
EPHE	New	ISHARES TRmsci philips etf	$225,000	–	8,379	–	0.03%	–
TCOM	New	TRIP COM GROUP LTDads	$223,000	–	8,600	–	0.03%	–
UBER	New	UBER TECHNOLOGIES INC	$216,000	–	6,937	–	0.03%	–
IVV	New	ISHARES TRcore s&p500 etf	$217,000	–	700	–	0.03%	–
CNYA	New	ISHARES TRmsci china a	$206,000	–	6,530	–	0.03%	–
BMYRT	New	BRISTOL-MYERS SQUIBB COright 99/99/9999	$62,000	–	17,385	–	0.01%	–

Q4 2019

			Value		Shares		↓ Weighting
TTM	Exit	TATA MTRS LTDsponsored adr	$0	–	-12,515	–	-0.00%	–
DD	Exit	DUPONT DE NEMOURS INC	$0	–	-2,819	–	-0.03%	–
PNC	Exit	PNC FINL SVCS GROUP INC	$0	–	-1,478	–	-0.03%	–
BOND	Exit	PIMCO ETF TRactive bd etf	$0	–	-1,870	–	-0.03%	–
EWS	Exit	ISHARES INCmsci singpor etf	$0	–	-8,695	–	-0.03%	–
GMF	Exit	SPDR INDEX SHS FDSasia pacif etf	$0	–	-2,218	–	-0.03%	–
MCHP	Exit	MICROCHIP TECHNOLOGY INC	$0	–	-2,200	–	-0.03%	–
INDY	Exit	ISHARES TRindia 50 etf	$0	–	-5,500	–	-0.03%	–
KRE	Exit	SPDR SERIES TRUSTs&p regl bkg	$0	–	-4,000	–	-0.03%	–
ACN	Exit	ACCENTURE PLC IRELAND	$0	–	-1,160	–	-0.03%	–
KLAC	Exit	KLA CORPORATION	$0	–	-1,425	–	-0.03%	–
TSM	Exit	TAIWAN SEMICONDUCTOR MFG LTDsponsored ads	$0	–	-26,682	–	-0.03%	–
JNUG	Exit	DIREXION SHS ETF TRdaily jr gld min	$0	–	-4,250	–	-0.03%	–
CTRP	Exit	CTRIP COM INTL LTDsponsored ads	$0	–	-8,600	–	-0.03%	–
IBB	Exit	ISHARES TRnasdaq biotech	$0	–	-2,530	–	-0.03%	–
RSX	Exit	VANECK VECTORS ETF TRrussia etf	$0	–	-12,000	–	-0.04%	–
EOG	Exit	EOG RES INC	$0	–	-3,707	–	-0.04%	–
UTX	Exit	UNITED TECHNOLOGIES CORP	$0	–	-2,014	–	-0.04%	–
EPHE	Exit	ISHARES TRmsci philips etf	$0	–	-8,379	–	-0.04%	–
EWQ	Exit	ISHARES INCmsci france etf	$0	–	-9,500	–	-0.04%	–
EWC	Exit	ISHARES INCmsci cda etf	$0	–	-10,000	–	-0.04%	–
ILF	Exit	ISHARES TRlatn amer 40 etf	$0	–	-9,400	–	-0.04%	–
SABR	Exit	SABRE CORP	$0	–	-13,314	–	-0.04%	–
SDY	Exit	SPDR SERIES TRUSTs&p divid etf	$0	–	-3,000	–	-0.04%	–
HDV	Exit	ISHARES TRcore high dv etf	$0	–	-3,400	–	-0.04%	–
CQQQ	Exit	INVESCO EXCHNG TRADED FD TRchina technlgy	$0	–	-7,284	–	-0.05%	–
TEL	Exit	TE CONNECTIVITY LTD	$0	–	-3,701	–	-0.05%	–
VNM	Exit	VANECK VECTORS ETF TRvietnam etf	$0	–	-22,614	–	-0.05%	–
BIDU	Exit	BAIDU INCspon adr rep a	$0	–	-3,554	–	-0.05%	–
INCO	Exit	COLUMBIA ETF TR IIindia consmr etf	$0	–	-9,589	–	-0.05%	–
DISCK	Exit	DISCOVERY INC	$0	–	-16,200	–	-0.06%	–
BLK	Exit	BLACKROCK INC	$0	–	-919	–	-0.06%	–
QCOM	Exit	QUALCOMM INC	$0	–	-5,500	–	-0.06%	–
KMB	Exit	KIMBERLY CLARK CORP	$0	–	-2,925	–	-0.06%	–
EW	Exit	EDWARDS LIFESCIENCES CORP	$0	–	-1,901	–	-0.06%	–
CHKP	Exit	CHECK POINT SOFTWARE TECH LTord	$0	–	-4,172	–	-0.06%	–
AGG	Exit	ISHARES TRcore us aggbd et	$0	–	-4,100	–	-0.06%	–
AME	Exit	AMETEK INC NEW	$0	–	-5,560	–	-0.07%	–
THD	Exit	ISHARES INCmsci thailnd etf	$0	–	-5,760	–	-0.07%	–
CE	Exit	CELANESE CORP DEL	$0	–	-4,190	–	-0.07%	–
FIS	Exit	FIDELITY NATL INFORMATION SV	$0	–	-3,870	–	-0.07%	–
TAP	Exit	MOLSON COORS BREWING COcl b	$0	–	-9,191	–	-0.07%	–
DIA	Exit	SPDR DOW JONES INDL AVRG ETFut ser 1	$0	–	-1,993	–	-0.07%	–
LLY	Exit	LILLY ELI & CO	$0	–	-4,900	–	-0.08%	–
ADP	Exit	AUTOMATIC DATA PROCESSING IN	$0	–	-3,425	–	-0.08%	–
NEE	Exit	NEXTERA ENERGY INC	$0	–	-2,525	–	-0.08%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-17,114	–	-0.08%	–
PG	Exit	PROCTER & GAMBLE CO	$0	–	-4,860	–	-0.08%	–
PFE	Exit	PFIZER INC	$0	–	-16,965	–	-0.08%	–
BIIB	Exit	BIOGEN INC	$0	–	-2,700	–	-0.09%	–
CME	Exit	CME GROUP INC	$0	–	-2,975	–	-0.09%	–
IWM	Exit	ISHARES TRrussell 2000 etf	$0	–	-4,190	–	-0.09%	–
MRK	Exit	MERCK & CO INC	$0	–	-7,875	–	-0.09%	–
IWD	Exit	ISHARES TRrus 1000 val etf	$0	–	-5,200	–	-0.09%	–
WFC	Exit	WELLS FARGO CO NEW	$0	–	-13,465	–	-0.09%	–
MMM	Exit	3M CO	$0	–	-4,396	–	-0.10%	–
TXN	Exit	TEXAS INSTRS INC	$0	–	-5,600	–	-0.10%	–
EIDO	Exit	ISHARES TRmsci indonia etf	$0	–	-29,990	–	-0.10%	–
NEM	Exit	NEWMONT GOLDCORP CORPORATION	$0	–	-19,868	–	-0.10%	–
FLT	Exit	FLEETCOR TECHNOLOGIES INC	$0	–	-2,790	–	-0.11%	–
EWU	Exit	ISHARES TRmsci uk etf new	$0	–	-27,000	–	-0.12%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC	$0	–	-2,970	–	-0.12%	–
RTN	Exit	RAYTHEON CO	$0	–	-4,425	–	-0.12%	–
AMGN	Exit	AMGEN INC	$0	–	-5,082	–	-0.13%	–
USB	Exit	US BANCORP DEL	$0	–	-18,411	–	-0.14%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-5,050	–	-0.14%	–
WM	Exit	WASTE MGMT INC DEL	$0	–	-9,400	–	-0.15%	–
CMCSA	Exit	COMCAST CORP NEWcl a	$0	–	-24,010	–	-0.15%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-890	–	-0.15%	–
EFA	Exit	ISHARES TRmsci eafe etf	$0	–	-17,500	–	-0.16%	–
ZTS	Exit	ZOETIS INCcl a	$0	–	-9,299	–	-0.16%	–
PM	Exit	PHILIP MORRIS INTL INC	$0	–	-15,436	–	-0.16%	–
FLIR	Exit	FLIR SYS INC	$0	–	-22,535	–	-0.16%	–
CBRE	Exit	CBRE GROUP INCcl a	$0	–	-22,421	–	-0.16%	–
AWK	Exit	AMERICAN WTR WKS CO INC NEW	$0	–	-10,045	–	-0.17%	–
HON	Exit	HONEYWELL INTL INC	$0	–	-7,522	–	-0.17%	–
BAC	Exit	BANK AMER CORP	$0	–	-44,000	–	-0.18%	–
KHC	Exit	KRAFT HEINZ CO	$0	–	-48,538	–	-0.18%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-10,511	–	-0.19%	–
ATVI	Exit	ACTIVISION BLIZZARD INC	$0	–	-26,096	–	-0.19%	–
AVGO	Exit	BROADCOM INC	$0	–	-5,122	–	-0.19%	–
MU	Exit	MICRON TECHNOLOGY INC	$0	–	-33,714	–	-0.20%	–
CELG	Exit	CELGENE CORP	$0	–	-14,885	–	-0.20%	–
ICE	Exit	INTERCONTINENTAL EXCHANGE IN	$0	–	-16,142	–	-0.20%	–
XLK	Exit	SELECT SECTOR SPDR TRtechnology	$0	–	-18,600	–	-0.20%	–
ABBV	Exit	ABBVIE INC	$0	–	-21,596	–	-0.22%	–
LDOS	Exit	LEIDOS HLDGS INC	$0	–	-19,243	–	-0.23%	–
PEP	Exit	PEPSICO INC	$0	–	-12,348	–	-0.23%	–
XRAY	Exit	DENTSPLY SIRONA INC	$0	–	-32,050	–	-0.23%	–
EWT	Exit	ISHARES INCmsci taiwan etf	$0	–	-50,216	–	-0.25%	–
FHB	Exit	FIRST HAWAIIAN INC	$0	–	-70,000	–	-0.26%	–
BRKA	Exit	BERKSHIRE HATHAWAY INC DELcl a	$0	–	-6	–	-0.26%	–
F	Exit	FORD MTR CO DEL	$0	–	-212,660	–	-0.27%	–
VNQI	Exit	VANGUARD INTL EQUITY INDEX Fglb ex us etf	$0	–	-35,300	–	-0.28%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-18,009	–	-0.29%	–
UPRO	Exit	PROSHARES TRultrpro s&p500	$0	–	-39,200	–	-0.30%	–
ARI	Exit	APOLLO COML REAL EST FIN INC	$0	–	-116,350	–	-0.30%	–
C	Exit	CITIGROUP INC	$0	–	-32,398	–	-0.31%	–
REET	Exit	ISHARES TRglobal reit etf	$0	–	-80,600	–	-0.31%	–
BOH	Exit	BANK HAWAII CORP	$0	–	-26,419	–	-0.31%	–
MCD	Exit	MCDONALDS CORP	$0	–	-10,892	–	-0.32%	–
IYR	Exit	ISHARES TRu.s. real es etf	$0	–	-25,300	–	-0.32%	–
MA	Exit	MASTERCARD INCcl a	$0	–	-8,882	–	-0.33%	–
FEZ	Exit	SPDR INDEX SHS FDSeuro stoxx 50	$0	–	-65,000	–	-0.34%	–
VNQ	Exit	VANGUARD INDEX FDSreal estate etf	$0	–	-26,500	–	-0.34%	–
BHP	Exit	BHP GROUP LTDsponsored ads	$0	–	-100,000	–	-0.34%	–
WPM	Exit	WHEATON PRECIOUS METALS CORP	$0	–	-100,000	–	-0.36%	–
HE	Exit	HAWAIIAN ELEC INDUSTRIES	$0	–	-60,000	–	-0.37%	–
XLF	Exit	SELECT SECTOR SPDR TRsbi int-finl	$0	–	-102,725	–	-0.39%	–
PYPL	Exit	PAYPAL HLDGS INC	$0	–	-29,770	–	-0.42%	–
T	Exit	AT&T INC	$0	–	-83,356	–	-0.43%	–
EWG	Exit	ISHARES INCmsci germany etf	$0	–	-117,970	–	-0.43%	–
CSCO	Exit	CISCO SYS INC	$0	–	-65,308	–	-0.44%	–
SPY	Exit	SPDR S&P 500 ETF TRtr unit	$0	–	-11,322	–	-0.46%	–
GDX	Exit	VANECK VECTORS ETF TRgold miners etf	$0	–	-129,087	–	-0.47%	–
GOLD	Exit	BARRICK GOLD CORPORATION	$0	–	-203,000	–	-0.48%	–
VWO	Exit	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$0	–	-92,985	–	-0.51%	–
DB	Exit	DEUTSCHE BANK AGnamen akt	$0	–	-500,000	–	-0.51%	–
ORCL	Exit	ORACLE CORP	$0	–	-69,812	–	-0.52%	–
EZU	Exit	ISHARES INCmsci eurzone etf	$0	–	-104,280	–	-0.56%	–
FXI	Exit	ISHARES TRchina lg-cap etf	$0	–	-121,438	–	-0.66%	–
FAST	Exit	FASTENAL CO	$0	–	-151,472	–	-0.68%	–
BMO	Exit	BANK MONTREAL QUE	$0	–	-68,907	–	-0.69%	–
INTC	Exit	INTEL CORP	$0	–	-103,256	–	-0.73%	–
TD	Exit	TORONTO DOMINION BK ONT	$0	–	-98,331	–	-0.78%	–
HYZD	Exit	WISDOMTREE TRhedged hi yld bd	$0	–	-282,629	–	-0.89%	–
AMZN	Exit	AMAZON COM INC	$0	–	-3,885	–	-0.92%	–
EWL	Exit	ISHARES INCmsci switzerland	$0	–	-194,585	–	-1.00%	–
MCHI	Exit	ISHARES TRmsci china etf	$0	–	-173,458	–	-1.33%	–
INDA	Exit	ISHARES TRmsci india etf	$0	–	-305,544	–	-1.40%	–
UNH	Exit	UNITEDHEALTH GROUP INC	$0	–	-50,344	–	-1.50%	–
EEM	Exit	ISHARES TRmsci emg mkt etf	$0	–	-271,763	–	-1.52%	–
ACGL	Exit	ARCH CAP GROUP LTDord	$0	–	-315,090	–	-1.81%	–
VOO	Exit	VANGUARD INDEX FDS	$0	–	-49,392	–	-1.84%	–
VGK	Exit	VANGUARD INTL EQUITY INDEX Fftse europe etf	$0	–	-256,456	–	-1.88%	–
XLV	Exit	SELECT SECTOR SPDR TRsbi healthcare	$0	–	-158,073	–	-1.95%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-122,586	–	-1.97%	–
BABA	Exit	ALIBABA GROUP HLDG LTDsponsored ads	$0	–	-115,988	–	-2.65%	–
HD	Exit	HOME DEPOT INC	$0	–	-84,806	–	-2.69%	–
GLD	Exit	SPDR GOLD TRUST	$0	–	-147,928	–	-2.81%	–
AZN	Exit	ASTRAZENECA PLCsponsored adr	$0	–	-232,212	–	-2.84%	–
EWA	Exit	ISHARES INCmsci aust etf	$0	–	-1,000,946	–	-3.05%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-20,822	–	-3.48%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-145,138	–	-3.54%	–
CWB	Exit	SPDR SERIES TRUSTblmbrg brc cnvrt	$0	–	-520,607	–	-3.73%	–
V	Exit	VISA INC	$0	–	-167,459	–	-3.94%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-207,925	–	-3.95%	–
AAPL	Exit	APPLE INC	$0	–	-136,927	–	-4.19%	–
ELD	Exit	WISDOMTREE TRem lcl debt fd	$0	–	-975,727	–	-4.59%	–
EWJ	Exit	ISHARES INCmsci jpn etf new	$0	–	-603,429	–	-4.68%	–
QQQ	Exit	INVESCO QQQ TRunit ser 1	$0	–	-205,095	–	-5.30%	–
OEF	Exit	ISHARES TRs&p 100 etf	$0	–	-393,736	–	-7.08%	–

Q3 2019

			Value		Shares		↓ Weighting
OEF	Buy	ISHARES TRs&p 100 etf	$51,772,000	+4.3%	393,736	+2.8%	7.08%	-1.8%
QQQ	Buy	INVESCO QQQ TRunit ser 1	$38,724,000	+70.1%	205,095	+68.3%	5.30%	+60.0%
EWJ	Buy	ISHARES INCmsci jpn etf new	$34,239,000	+8.3%	603,429	+4.2%	4.68%	+1.9%
ELD	Buy	WISDOMTREE TRem lcl debt fd	$33,575,000	+0.3%	975,727	+3.1%	4.59%	-5.6%
AAPL	Buy	APPLE INC	$30,668,000	+18.3%	136,927	+4.5%	4.19%	+11.2%
MSFT	Buy	MICROSOFT CORP	$28,908,000	+7.7%	207,925	+3.8%	3.95%	+1.3%
V	Buy	VISA INC	$28,805,000	+3.4%	167,459	+4.4%	3.94%	-2.7%
CWB	Buy	SPDR SERIES TRUSTblmbrg brc cnvrt	$27,306,000	+4.3%	520,607	+5.1%	3.73%	-1.9%
FB	Buy	FACEBOOK INCcl a	$25,846,000	-6.6%	145,138	+1.2%	3.54%	-12.1%
GOOGL	Buy	ALPHABET INCcap stk cl a	$25,427,000	+16.2%	20,822	+3.0%	3.48%	+9.3%
EWA	Sell	ISHARES INCmsci aust etf	$22,271,000	-1.4%	1,000,946	-0.1%	3.05%	-7.2%
AZN	Buy	ASTRAZENECA PLCsponsored adr	$20,778,000	+17.7%	232,212	+7.8%	2.84%	+10.7%
GLD	Buy	SPDR GOLD TRUST	$20,543,000	+7.1%	147,928	+2.7%	2.81%	+0.8%
HD	Buy	HOME DEPOT INC	$19,677,000	+15.5%	84,806	+3.6%	2.69%	+8.7%
BABA	Sell	ALIBABA GROUP HLDG LTDsponsored ads	$19,397,000	-1.8%	115,988	-0.5%	2.65%	-7.6%
JPM	Buy	JPMORGAN CHASE & CO	$14,427,000	+13.9%	122,586	+8.2%	1.97%	+7.2%
XLV	Buy	SELECT SECTOR SPDR TRsbi healthcare	$14,247,000	-1.5%	158,073	+1.2%	1.95%	-7.4%
VGK	Buy	VANGUARD INTL EQUITY INDEX Fftse europe etf	$13,749,000	+3.3%	256,456	+5.8%	1.88%	-2.8%
VOO	Buy	VANGUARD INDEX FDS	$13,464,000	+27.4%	49,392	+25.8%	1.84%	+19.8%
ACGL	Buy	ARCH CAP GROUP LTDord	$13,227,000	+15.5%	315,090	+2.1%	1.81%	+8.7%
EEM	Buy	ISHARES TRmsci emg mkt etf	$11,102,000	-0.9%	271,763	+4.1%	1.52%	-6.8%
UNH	Buy	UNITEDHEALTH GROUP INC	$10,941,000	+1333.9%	50,344	+1511.0%	1.50%	+1247.7%
INDA	Sell	ISHARES TRmsci india etf	$10,260,000	-5.1%	305,544	-0.3%	1.40%	-10.8%
MCHI	Buy	ISHARES TRmsci china etf	$9,728,000	-5.4%	173,458	+0.3%	1.33%	-11.0%
EWL	Sell	ISHARES INCmsci switzerland	$7,336,000	-10.9%	194,585	-11.2%	1.00%	-16.1%
AMZN	Sell	AMAZON COM INC	$6,744,000	-10.1%	3,885	-1.9%	0.92%	-15.4%
HYZD	Sell	WISDOMTREE TRhedged hi yld bd	$6,503,000	-1.4%	282,629	-0.1%	0.89%	-7.2%
TD	Buy	TORONTO DOMINION BK ONT	$5,737,000	+0.8%	98,331	+1.2%	0.78%	-5.1%
INTC	Buy	INTEL CORP	$5,321,000	+13.2%	103,256	+5.2%	0.73%	+6.6%
BMO	Sell	BANK MONTREAL QUE	$5,078,000	-3.7%	68,907	-1.1%	0.69%	-9.5%
FAST	Buy	FASTENAL CO	$4,949,000	+1.1%	151,472	+0.8%	0.68%	-4.9%
FXI	Buy	ISHARES TRchina lg-cap etf	$4,833,000	-6.2%	121,438	+0.8%	0.66%	-11.7%
ORCL	Buy	ORACLE CORP	$3,842,000	-0.1%	69,812	+3.4%	0.52%	-6.1%
VWO	Buy	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$3,744,000	-3.2%	92,985	+2.3%	0.51%	-8.9%
GOLD	Buy	BARRICK GOLD CORPORATION	$3,518,000	+10.7%	203,000	+0.7%	0.48%	+4.1%
GDX	Buy	VANECK VECTORS ETF TRgold miners etf	$3,448,000	+8.1%	129,087	+3.4%	0.47%	+1.7%
SPY	Buy	SPDR S&P 500 ETF TRtr unit	$3,360,000	+36.1%	11,322	+34.4%	0.46%	+27.9%
CSCO	Buy	CISCO SYS INC	$3,227,000	-5.2%	65,308	+5.0%	0.44%	-10.9%
EWG	Sell	ISHARES INCmsci germany etf	$3,175,000	-15.2%	117,970	-11.7%	0.43%	-20.4%
T	Buy	AT&T INC	$3,154,000	+39.4%	83,356	+23.5%	0.43%	+31.0%
PYPL	Buy	PAYPAL HLDGS INC	$3,084,000	-0.4%	29,770	+10.0%	0.42%	-6.2%
FEZ	Sell	SPDR INDEX SHS FDSeuro stoxx 50	$2,453,000	-46.9%	65,000	-46.1%	0.34%	-50.1%
MA	Buy	MASTERCARD INCcl a	$2,412,000	+16.0%	8,882	+13.0%	0.33%	+9.3%
IYR	Buy	ISHARES TRu.s. real es etf	$2,367,000	+10.7%	25,300	+3.3%	0.32%	+4.2%
MCD	Buy	MCDONALDS CORP	$2,339,000	+23.7%	10,892	+19.6%	0.32%	+16.4%
BOH	Sell	BANK HAWAII CORP	$2,270,000	-23.3%	26,419	-26.0%	0.31%	-27.9%
REET	Buy	ISHARES TRglobal reit etf	$2,263,000	+9.5%	80,600	+4.0%	0.31%	+3.0%
C	Sell	CITIGROUP INC	$2,238,000	-10.6%	32,398	-9.4%	0.31%	-15.9%
ARI	Buy	APOLLO COML REAL EST FIN INC	$2,230,000	+35.9%	116,350	+30.4%	0.30%	+27.6%
UPRO	New	PROSHARES TRultrpro s&p500	$2,167,000	–	39,200	–	0.30%	–
CVX	Sell	CHEVRON CORP NEW	$2,136,000	-5.4%	18,009	-0.7%	0.29%	-11.0%
VNQI	Buy	VANGUARD INTL EQUITY INDEX Fglb ex us etf	$2,068,000	+1.3%	35,300	+2.0%	0.28%	-4.7%
F	Sell	FORD MTR CO DEL	$1,948,000	-26.0%	212,660	-17.3%	0.27%	-30.5%
EWT	Sell	ISHARES INCmsci taiwan etf	$1,826,000	-14.7%	50,216	-18.0%	0.25%	-19.6%
PEP	Buy	PEPSICO INC	$1,693,000	+20.1%	12,348	+14.9%	0.23%	+13.2%
LDOS	Buy	LEIDOS HLDGS INC	$1,653,000	+20.0%	19,243	+11.6%	0.23%	+13.0%
ABBV	Buy	ABBVIE INC	$1,635,000	+53.4%	21,596	+47.3%	0.22%	+44.5%
XLK	Buy	SELECT SECTOR SPDR TRtechnology	$1,498,000	+29.7%	18,600	+25.7%	0.20%	+22.0%
ICE	Sell	INTERCONTINENTAL EXCHANGE IN	$1,489,000	+2.4%	16,142	-4.6%	0.20%	-3.3%
CELG	Sell	CELGENE CORP	$1,478,000	+6.6%	14,885	-0.7%	0.20%	+0.5%
MU	Sell	MICRON TECHNOLOGY INC	$1,445,000	+7.4%	33,714	-3.3%	0.20%	+1.0%
AVGO	Sell	BROADCOM INC	$1,414,000	-8.3%	5,122	-4.4%	0.19%	-13.8%
JNJ	Buy	JOHNSON & JOHNSON	$1,360,000	-3.2%	10,511	+4.2%	0.19%	-8.8%
KHC	Buy	KRAFT HEINZ CO	$1,356,000	+7.2%	48,538	+19.1%	0.18%	+0.5%
AWK	Buy	AMERICAN WTR WKS CO INC NEW	$1,248,000	+26.4%	10,045	+18.1%	0.17%	+19.6%
FLIR	Buy	FLIR SYS INC	$1,185,000	+0.8%	22,535	+3.7%	0.16%	-5.3%
PM	Buy	PHILIP MORRIS INTL INC	$1,172,000	+4.6%	15,436	+8.3%	0.16%	-1.8%
EFA	Buy	ISHARES TRmsci eafe etf	$1,141,000	+8.5%	17,500	+9.4%	0.16%	+2.0%
CMCSA	Sell	COMCAST CORP NEWcl a	$1,082,000	+4.7%	24,010	-1.8%	0.15%	-1.3%
GOOG	Sell	ALPHABET INCcap stk cl c	$1,085,000	+0.6%	890	-10.7%	0.15%	-5.7%
BRKB	Buy	BERKSHIRE HATHAWAY INC DELcl b new	$1,051,000	+6.1%	5,050	+8.6%	0.14%	0.0%
AMGN	Buy	AMGEN INC	$983,000	+17.9%	5,082	+12.2%	0.13%	+10.7%
NEM	Buy	NEWMONT GOLDCORP CORPORATION	$753,000	+3.2%	19,868	+4.7%	0.10%	-2.8%
MMM	Buy	3M CO	$723,000	+1.8%	4,396	+7.3%	0.10%	-3.9%
WFC	Sell	WELLS FARGO CO NEW	$679,000	+6.3%	13,465	-0.4%	0.09%	0.0%
IWD	New	ISHARES TRrus 1000 val etf	$667,000	–	5,200	–	0.09%	–
IWM	Buy	ISHARES TRrussell 2000 etf	$634,000	+77.1%	4,190	+82.2%	0.09%	+67.3%
PFE	Sell	PFIZER INC	$610,000	-22.5%	16,965	-6.6%	0.08%	-27.2%
PG	Buy	PROCTER & GAMBLE CO	$604,000	+23.5%	4,860	+9.0%	0.08%	+16.9%
DIA	Buy	SPDR DOW JONES INDL AVRG ETFut ser 1	$536,000	+12.4%	1,993	+11.2%	0.07%	+5.8%
TAP	New	MOLSON COORS BREWING COcl b	$528,000	–	9,191	–	0.07%	–
FIS	Buy	FIDELITY NATL INFORMATION SV	$514,000	+12.7%	3,870	+4.0%	0.07%	+6.1%
CQQQ	New	INVESCO EXCHNG TRADED FD TRchina technlgy	$333,000	–	7,284	–	0.05%	–
UTX	Buy	UNITED TECHNOLOGIES CORP	$275,000	+31.0%	2,014	+24.8%	0.04%	+22.6%
IBB	Buy	ISHARES TRnasdaq biotech	$252,000	-3.8%	2,530	+5.4%	0.03%	-10.5%
JNUG	New	DIREXION SHS ETF TRdaily jr gld min	$243,000	–	4,250	–	0.03%	–
KLAC	New	KLA CORPORATION	$227,000	–	1,425	–	0.03%	–
ACN	Sell	ACCENTURE PLC IRELAND	$223,000	-6.3%	1,160	-10.1%	0.03%	-14.3%
BOND	New	PIMCO ETF TRactive bd etf	$204,000	–	1,870	–	0.03%	–
PNC	Sell	PNC FINL SVCS GROUP INC	$207,000	-1.0%	1,478	-3.0%	0.03%	-6.7%
MCHP	New	MICROCHIP TECHNOLOGY INC	$204,000	–	2,200	–	0.03%	–
SAN	Exit	BANCO SANTANDER SAadr	$0	–	-15,496	–	-0.01%	–
BSV	Exit	VANGUARD BD INDEX FD INCshort trm bond	$0	–	-2,811	–	-0.03%	–
XLNX	Exit	XILINX INC	$0	–	-2,922	–	-0.05%	–
CTSH	Exit	COGNIZANT TECHNOLOGY SOLUTIOcl a	$0	–	-9,369	–	-0.09%	–
CRM	Exit	SALESFORCE COM INC	$0	–	-91,059	–	-2.01%	–

Q2 2019

			Value		Shares		↓ Weighting
OEF	New	ISHARES TRs&p 100 etf	$49,615,000	–	382,858	–	7.21%	–
ELD	New	WISDOMTREE TRem lcl debt fd	$33,468,000	–	946,749	–	4.86%	–
EWJ	New	ISHARES INCmsci jpn etf new	$31,620,000	–	579,326	–	4.60%	–
V	New	VISA INC	$27,847,000	–	160,455	–	4.05%	–
FB	New	FACEBOOK INCcl a	$27,673,000	–	143,385	–	4.02%	–
MSFT	New	MICROSOFT CORP	$26,835,000	–	200,318	–	3.90%	–
CWB	New	SPDR SERIES TRUSTblmbrg brc cnvrt	$26,190,000	–	495,369	–	3.81%	–
AAPL	New	APPLE INC	$25,932,000	–	131,021	–	3.77%	–
QQQ	New	INVESCO QQQ TRunit ser 1	$22,763,000	–	121,895	–	3.31%	–
EWA	New	ISHARES INCmsci aust etf	$22,590,000	–	1,002,230	–	3.28%	–
GOOGL	New	ALPHABET INCcap stk cl a	$21,881,000	–	20,208	–	3.18%	–
BABA	New	ALIBABA GROUP HLDG LTDsponsored ads	$19,752,000	–	116,568	–	2.87%	–
GLD	New	SPDR GOLD TRUST	$19,177,000	–	143,971	–	2.79%	–
AZN	New	ASTRAZENECA PLCsponsored adr	$17,658,000	–	215,507	–	2.57%	–
HD	New	HOME DEPOT INC	$17,032,000	–	81,896	–	2.48%	–
XLV	New	SELECT SECTOR SPDR TRsbi healthcare	$14,466,000	–	156,155	–	2.10%	–
CRM	New	SALESFORCE COM INC	$13,816,000	–	91,059	–	2.01%	–
VGK	New	VANGUARD INTL EQUITY INDEX Fftse europe etf	$13,307,000	–	242,395	–	1.93%	–
JPM	New	JPMORGAN CHASE & CO	$12,664,000	–	113,272	–	1.84%	–
ACGL	New	ARCH CAP GROUP LTDord	$11,448,000	–	308,744	–	1.66%	–
EEM	New	ISHARES TRmsci emg mkt etf	$11,201,000	–	261,176	–	1.63%	–
INDA	New	ISHARES TRmsci india etf	$10,813,000	–	306,490	–	1.57%	–
VOO	New	VANGUARD INDEX FDS	$10,571,000	–	39,276	–	1.54%	–
MCHI	New	ISHARES TRmsci china etf	$10,284,000	–	172,991	–	1.50%	–
EWL	New	ISHARES INCmsci switzerland	$8,229,000	–	219,083	–	1.20%	–
AMZN	New	AMAZON COM INC	$7,499,000	–	3,960	–	1.09%	–
HYZD	New	WISDOMTREE TRhedged hi yld bd	$6,593,000	–	282,821	–	0.96%	–
TD	New	TORONTO DOMINION BK ONT	$5,690,000	–	97,168	–	0.83%	–
BMO	New	BANK MONTREAL QUE	$5,275,000	–	69,689	–	0.77%	–
FXI	New	ISHARES TRchina lg-cap etf	$5,155,000	–	120,523	–	0.75%	–
FAST	New	FASTENAL CO	$4,897,000	–	150,264	–	0.71%	–
INTC	New	INTEL CORP	$4,700,000	–	98,179	–	0.68%	–
FEZ	New	SPDR INDEX SHS FDSeuro stoxx 50	$4,619,000	–	120,600	–	0.67%	–
EZU	New	ISHARES INCmsci eurzone etf	$4,125,000	–	104,280	–	0.60%	–
VWO	New	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$3,866,000	–	90,900	–	0.56%	–
DB	New	DEUTSCHE BANK AGnamen akt	$3,860,000	–	500,000	–	0.56%	–
ORCL	New	ORACLE CORP	$3,846,000	–	67,501	–	0.56%	–
EWG	New	ISHARES INCmsci germany etf	$3,746,000	–	133,565	–	0.54%	–
CSCO	New	CISCO SYS INC	$3,404,000	–	62,202	–	0.50%	–
GDX	New	VANECK VECTORS ETF TRgold miners etf	$3,191,000	–	124,840	–	0.46%	–
GOLD	New	BARRICK GOLD CORPORATION	$3,178,000	–	201,500	–	0.46%	–
PYPL	New	PAYPAL HLDGS INC	$3,096,000	–	27,052	–	0.45%	–
BOH	New	BANK HAWAII CORP	$2,959,000	–	35,685	–	0.43%	–
BHP	New	BHP GROUP LTDsponsored ads	$2,888,000	–	100,000	–	0.42%	–
XLF	New	SELECT SECTOR SPDR TRsbi int-finl	$2,835,000	–	102,725	–	0.41%	–
F	New	FORD MTR CO DEL	$2,632,000	–	257,260	–	0.38%	–
HE	New	HAWAIIAN ELEC INDUSTRIES	$2,613,000	–	60,000	–	0.38%	–
C	New	CITIGROUP INC	$2,504,000	–	35,751	–	0.36%	–
SPY	New	SPDR S&P 500 ETF TRtr unit	$2,468,000	–	8,422	–	0.36%	–
WPM	New	WHEATON PRECIOUS METALS CORP	$2,424,000	–	100,000	–	0.35%	–
VNQ	New	VANGUARD INDEX FDSreal estate etf	$2,316,000	–	26,500	–	0.34%	–
T	New	AT&T INC	$2,262,000	–	67,508	–	0.33%	–
CVX	New	CHEVRON CORP NEW	$2,257,000	–	18,134	–	0.33%	–
EWT	New	ISHARES INCmsci taiwan etf	$2,141,000	–	61,251	–	0.31%	–
IYR	New	ISHARES TRu.s. real es etf	$2,139,000	–	24,500	–	0.31%	–
MA	New	MASTERCARD INCcl a	$2,079,000	–	7,861	–	0.30%	–
REET	New	ISHARES TRglobal reit etf	$2,067,000	–	77,500	–	0.30%	–
VNQI	New	VANGUARD INTL EQUITY INDEX Fglb ex us etf	$2,041,000	–	34,600	–	0.30%	–
BRKA	New	BERKSHIRE HATHAWAY INC DELcl a	$1,910,000	–	6	–	0.28%	–
MCD	New	MCDONALDS CORP	$1,891,000	–	9,104	–	0.28%	–
XRAY	New	DENTSPLY SIRONA INC	$1,870,000	–	32,050	–	0.27%	–
FHB	New	FIRST HAWAIIAN INC	$1,811,000	–	70,000	–	0.26%	–
ARI	New	APOLLO COML REAL EST FIN INC	$1,641,000	–	89,250	–	0.24%	–
AVGO	New	BROADCOM INC	$1,542,000	–	5,358	–	0.22%	–
ICE	New	INTERCONTINENTAL EXCHANGE IN	$1,454,000	–	16,922	–	0.21%	–
PEP	New	PEPSICO INC	$1,410,000	–	10,750	–	0.20%	–
JNJ	New	JOHNSON & JOHNSON	$1,405,000	–	10,086	–	0.20%	–
CELG	New	CELGENE CORP	$1,386,000	–	14,990	–	0.20%	–
LDOS	New	LEIDOS HLDGS INC	$1,377,000	–	17,250	–	0.20%	–
MU	New	MICRON TECHNOLOGY INC	$1,346,000	–	34,872	–	0.20%	–
HON	New	HONEYWELL INTL INC	$1,313,000	–	7,522	–	0.19%	–
BAC	New	BANK AMER CORP	$1,276,000	–	44,000	–	0.18%	–
KHC	New	KRAFT HEINZ CO	$1,265,000	–	40,738	–	0.18%	–
ATVI	New	ACTIVISION BLIZZARD INC	$1,232,000	–	26,096	–	0.18%	–
FLIR	New	FLIR SYS INC	$1,176,000	–	21,735	–	0.17%	–
XLK	New	SELECT SECTOR SPDR TRtechnology	$1,155,000	–	14,800	–	0.17%	–
CBRE	New	CBRE GROUP INCcl a	$1,150,000	–	22,421	–	0.17%	–
PM	New	PHILIP MORRIS INTL INC	$1,120,000	–	14,259	–	0.16%	–
WM	New	WASTE MGMT INC DEL	$1,084,000	–	9,400	–	0.16%	–
GOOG	New	ALPHABET INCcap stk cl c	$1,078,000	–	997	–	0.16%	–
ABBV	New	ABBVIE INC	$1,066,000	–	14,661	–	0.16%	–
ZTS	New	ZOETIS INCcl a	$1,055,000	–	9,299	–	0.15%	–
EFA	New	ISHARES TRmsci eafe etf	$1,052,000	–	16,000	–	0.15%	–
CMCSA	New	COMCAST CORP NEWcl a	$1,033,000	–	24,440	–	0.15%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$991,000	–	4,650	–	0.14%	–
AWK	New	AMERICAN WTR WKS CO INC NEW	$987,000	–	8,508	–	0.14%	–
USB	New	US BANCORP DEL	$965,000	–	18,411	–	0.14%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$872,000	–	2,970	–	0.13%	–
EWU	New	ISHARES TRmsci uk etf new	$873,000	–	27,000	–	0.13%	–
AMGN	New	AMGEN INC	$834,000	–	4,528	–	0.12%	–
PFE	New	PFIZER INC	$787,000	–	18,165	–	0.11%	–
FLT	New	FLEETCOR TECHNOLOGIES INC	$784,000	–	2,790	–	0.11%	–
EIDO	New	ISHARES TRmsci indonia etf	$779,000	–	29,990	–	0.11%	–
RTN	New	RAYTHEON CO	$769,000	–	4,425	–	0.11%	–
UNH	New	UNITEDHEALTH GROUP INC	$763,000	–	3,125	–	0.11%	–
NEM	New	NEWMONT GOLDCORP CORPORATION	$730,000	–	18,968	–	0.11%	–
MMM	New	3M CO	$710,000	–	4,096	–	0.10%	–
SLB	New	SCHLUMBERGER LTD	$680,000	–	17,114	–	0.10%	–
MRK	New	MERCK & CO INC	$660,000	–	7,875	–	0.10%	–
TXN	New	TEXAS INSTRS INC	$643,000	–	5,600	–	0.09%	–
WFC	New	WELLS FARGO CO NEW	$639,000	–	13,514	–	0.09%	–
BIIB	New	BIOGEN INC	$631,000	–	2,700	–	0.09%	–
CTSH	New	COGNIZANT TECHNOLOGY SOLUTIOcl a	$594,000	–	9,369	–	0.09%	–
CME	New	CME GROUP INC	$577,000	–	2,975	–	0.08%	–
ADP	New	AUTOMATIC DATA PROCESSING IN	$566,000	–	3,425	–	0.08%	–
THD	New	ISHARES INCmsci thailnd etf	$551,000	–	5,760	–	0.08%	–
LLY	New	LILLY ELI & CO	$543,000	–	4,900	–	0.08%	–
NEE	New	NEXTERA ENERGY INC	$517,000	–	2,525	–	0.08%	–
AME	New	AMETEK INC NEW	$505,000	–	5,560	–	0.07%	–
PG	New	PROCTER AND GAMBLE CO	$489,000	–	4,460	–	0.07%	–
CHKP	New	CHECK POINT SOFTWARE TECH LTord	$482,000	–	4,172	–	0.07%	–
DIA	New	SPDR DOW JONES INDL AVRG ETFut ser 1	$477,000	–	1,793	–	0.07%	–
DISCK	New	DISCOVERY INC	$461,000	–	16,200	–	0.07%	–
AGG	New	ISHARES TRcore us aggbd et	$457,000	–	4,100	–	0.07%	–
FIS	New	FIDELITY NATL INFORMATION SV	$456,000	–	3,720	–	0.07%	–
CE	New	CELANESE CORP DEL	$452,000	–	4,190	–	0.07%	–
BLK	New	BLACKROCK INC	$431,000	–	919	–	0.06%	–
BIDU	New	BAIDU INCspon adr rep a	$417,000	–	3,554	–	0.06%	–
QCOM	New	QUALCOMM INC	$418,000	–	5,500	–	0.06%	–
KMB	New	KIMBERLY CLARK CORP	$390,000	–	2,925	–	0.06%	–
INCO	New	COLUMBIA ETF TR IIindia consmr etf	$395,000	–	9,589	–	0.06%	–
VNM	New	VANECK VECTORS ETF TRvietnam etf	$362,000	–	22,614	–	0.05%	–
IWM	New	ISHARES TRrussell 2000 etf	$358,000	–	2,300	–	0.05%	–
TEL	New	TE CONNECTIVITY LTD	$354,000	–	3,701	–	0.05%	–
EW	New	EDWARDS LIFESCIENCES CORP	$351,000	–	1,901	–	0.05%	–
EOG	New	EOG RES INC	$345,000	–	3,707	–	0.05%	–
XLNX	New	XILINX INC	$345,000	–	2,922	–	0.05%	–
HDV	New	ISHARES TRcore high dv etf	$321,000	–	3,400	–	0.05%	–
ILF	New	ISHARES TRlatn amer 40 etf	$317,000	–	9,400	–	0.05%	–
CTRP	New	CTRIP COM INTL LTDsponsored ads	$317,000	–	8,600	–	0.05%	–
SDY	New	SPDR SERIES TRUSTs&p divid etf	$303,000	–	3,000	–	0.04%	–
SABR	New	SABRE CORP	$296,000	–	13,314	–	0.04%	–
EPHE	New	ISHARES TRmsci philips etf	$298,000	–	8,379	–	0.04%	–
EWC	New	ISHARES INCmsci cda etf	$286,000	–	10,000	–	0.04%	–
EWQ	New	ISHARES INCmsci france etf	$291,000	–	9,500	–	0.04%	–
RSX	New	VANECK VECTORS ETF TRrussia etf	$284,000	–	12,000	–	0.04%	–
IBB	New	ISHARES TRnasdaq biotech	$262,000	–	2,400	–	0.04%	–
ACN	New	ACCENTURE PLC IRELAND	$238,000	–	1,290	–	0.04%	–
BSV	New	VANGUARD BD INDEX FD INCshort trm bond	$226,000	–	2,811	–	0.03%	–
GMF	New	SPDR INDEX SHS FDSasia pacif etf	$217,000	–	2,218	–	0.03%	–
UTX	New	UNITED TECHNOLOGIES CORP	$210,000	–	1,614	–	0.03%	–
DD	New	DUPONT DE NEMOURS INC	$212,000	–	2,819	–	0.03%	–
INDY	New	ISHARES TRindia 50 etf	$211,000	–	5,500	–	0.03%	–
EWS	New	ISHARES INCmsci singpor etf	$215,000	–	8,695	–	0.03%	–
KRE	New	SPDR SERIES TRUSTs&p regl bkg	$214,000	–	4,000	–	0.03%	–
PNC	New	PNC FINL SVCS GROUP INC	$209,000	–	1,523	–	0.03%	–
TSM	New	TAIWAN SEMICONDUCTOR MFG LTDsponsored ads	$205,000	–	26,682	–	0.03%	–
SAN	New	BANCO SANTANDER SAadr	$72,000	–	15,496	–	0.01%	–
TTM	New	TATA MTRS LTDsponsored adr	$29,000	–	12,515	–	0.00%	–

Q4 2018

			Value		Shares		↓ Weighting
TTM	Exit	TATA MTRS LTDsponsored adr	$0	–	-12,515	–	-0.01%	–
SYF	Exit	SYNCHRONY FINL	$0	–	-6,440	–	-0.03%	–
RSX	Exit	VANECK VECTORS ETF TRrussia etf	$0	–	-9,400	–	-0.03%	–
EWS	Exit	ISHARES INCmsci singpor etf	$0	–	-8,695	–	-0.03%	–
TPR	Exit	TAPESTRY INC	$0	–	-4,420	–	-0.03%	–
BSV	Exit	VANGUARD BD INDEX FD INCshort trm bond	$0	–	-2,811	–	-0.03%	–
TSM	Exit	TAIWAN SEMICONDUCTOR MFG LTDsponsored adr	$0	–	-26,682	–	-0.03%	–
BBT	Exit	BB&T CORP	$0	–	-4,740	–	-0.03%	–
XLNX	Exit	XILINX INC	$0	–	-2,922	–	-0.03%	–
EPHE	Exit	ISHARES TRmsci philips etf	$0	–	-8,379	–	-0.03%	–
UTX	Exit	UNITED TECHNOLOGIES CORP	$0	–	-1,860	–	-0.03%	–
CCL	Exit	CARNIVAL CORPunit 99/99/9999	$0	–	-4,409	–	-0.04%	–
EWC	Exit	ISHARES INCmsci cda etf	$0	–	-10,000	–	-0.04%	–
TFI	Exit	SPDR SER TRnuveen brc munic	$0	–	-6,250	–	-0.04%	–
ILF	Exit	ISHARES TRlatn amer 40 etf	$0	–	-9,400	–	-0.04%	–
EWQ	Exit	ISHARES INCmsci france etf	$0	–	-9,500	–	-0.04%	–
CTRP	Exit	CTRIP COM INTL LTD	$0	–	-8,600	–	-0.04%	–
PZA	Exit	INVESCO EXCHNG TRADED FD TRnatl amt muni	$0	–	-13,000	–	-0.04%	–
KMB	Exit	KIMBERLY CLARK CORP	$0	–	-2,925	–	-0.04%	–
TJX	Exit	TJX COS INC NEW	$0	–	-3,000	–	-0.04%	–
JD	Exit	JD COM INCspon adr cl a	$0	–	-13,266	–	-0.05%	–
SABR	Exit	SABRE CORP	$0	–	-13,314	–	-0.05%	–
FIS	Exit	FIDELITY NATL INFORMATION SV	$0	–	-3,263	–	-0.05%	–
EIDO	Exit	ISHARES TRmsci indonia etf	$0	–	-15,901	–	-0.05%	–
FEZ	Exit	SPDR INDEX SHS FDSeuro stoxx 50	$0	–	-9,600	–	-0.05%	–
VNM	Exit	VANECK VECTORS ETF TRvietnam etf	$0	–	-22,614	–	-0.05%	–
INCO	Exit	COLUMBIA ETF TR IIindia consmr etf	$0	–	-9,589	–	-0.05%	–
EW	Exit	EDWARDS LIFESCIENCES CORP	$0	–	-2,241	–	-0.05%	–
QCOM	Exit	QUALCOMM INC	$0	–	-5,500	–	-0.05%	–
DHR	Exit	DANAHER CORP DEL	$0	–	-3,750	–	-0.05%	–
TUR	Exit	ISHARES INCmsci turkey etf	$0	–	-17,500	–	-0.06%	–
NEE	Exit	NEXTERA ENERGY INC	$0	–	-2,525	–	-0.06%	–
AGG	Exit	ISHARES TRcore us aggbd et	$0	–	-4,100	–	-0.06%	–
NKE	Exit	NIKE INCcl b	$0	–	-5,090	–	-0.06%	–
SJNK	Exit	SPDR SER TRbloomberg srt tr	$0	–	-15,600	–	-0.06%	–
AME	Exit	AMETEK INC NEW	$0	–	-5,560	–	-0.06%	–
BLK	Exit	BLACKROCK INC	$0	–	-997	–	-0.06%	–
CE	Exit	CELANESE CORP DEL	$0	–	-4,190	–	-0.06%	–
DISCK	Exit	DISCOVERY INC	$0	–	-16,200	–	-0.06%	–
CHKP	Exit	CHECK POINT SOFTWARE TECH LTord	$0	–	-4,172	–	-0.06%	–
CME	Exit	CME GROUP INC	$0	–	-2,975	–	-0.07%	–
ABBV	Exit	ABBVIE INC	$0	–	-5,321	–	-0.07%	–
TEL	Exit	TE CONNECTIVITY LTD	$0	–	-5,801	–	-0.07%	–
ADP	Exit	AUTOMATIC DATA PROCESSING IN	$0	–	-3,425	–	-0.07%	–
PG	Exit	PROCTER AND GAMBLE CO	$0	–	-6,261	–	-0.07%	–
LLY	Exit	LILLY ELI & CO	$0	–	-4,900	–	-0.07%	–
THD	Exit	ISHARES INCmsci thailnd etf	$0	–	-5,760	–	-0.07%	–
ICE	Exit	INTERCONTINENTAL EXCHANGE IN	$0	–	-7,403	–	-0.07%	–
BABA	Exit	ALIBABA GROUP HLDG LTDsponsored ads	$0	–	-3,341	–	-0.07%	–
PX	Exit	PRAXAIR INC	$0	–	-3,415	–	-0.07%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC	$0	–	-2,401	–	-0.08%	–
TXN	Exit	TEXAS INSTRS INC	$0	–	-5,600	–	-0.08%	–
GS	Exit	GOLDMAN SACHS GROUP INC	$0	–	-2,718	–	-0.08%	–
EOG	Exit	EOG RES INC	$0	–	-4,807	–	-0.08%	–
GMF	Exit	SPDR INDEX SHS FDSasia pacif etf	$0	–	-6,383	–	-0.08%	–
XLK	Exit	SELECT SECTOR SPDR TRtechnology	$0	–	-8,300	–	-0.08%	–
DWDP	Exit	DOWDUPONT INC	$0	–	-9,858	–	-0.08%	–
FLT	Exit	FLEETCOR TECHNOLOGIES INC	$0	–	-2,790	–	-0.08%	–
ZTS	Exit	ZOETIS INCcl a	$0	–	-7,117	–	-0.09%	–
LH	Exit	LABORATORY CORP AMER HLDGS	$0	–	-3,718	–	-0.09%	–
CBRE	Exit	CBRE GROUP INCcl a	$0	–	-14,654	–	-0.09%	–
WFC	Exit	WELLS FARGO CO NEW	$0	–	-12,913	–	-0.09%	–
SPGI	Exit	S&P GLOBAL INC	$0	–	-3,574	–	-0.09%	–
GOLD	Exit	BARRICK GOLD CORP	$0	–	-65,000	–	-0.10%	–
MRK	Exit	MERCK & CO INC	$0	–	-10,455	–	-0.10%	–
UNH	Exit	UNITEDHEALTH GROUP INC	$0	–	-2,800	–	-0.10%	–
AWK	Exit	AMERICAN WTR WKS CO INC NEW	$0	–	-8,928	–	-0.10%	–
PFE	Exit	PFIZER INC	$0	–	-18,165	–	-0.11%	–
XRAY	Exit	DENTSPLY SIRONA INC	$0	–	-21,600	–	-0.11%	–
CMF	Exit	ISHARES TRcalif mun bd etf	$0	–	-14,499	–	-0.11%	–
SYMC	Exit	SYMANTEC CORP	$0	–	-40,000	–	-0.11%	–
WM	Exit	WASTE MGMT INC DEL	$0	–	-9,400	–	-0.11%	–
CMCSA	Exit	COMCAST CORP NEWcl a	$0	–	-24,440	–	-0.12%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-10,400	–	-0.12%	–
MMM	Exit	3M CO	$0	–	-4,198	–	-0.12%	–
LDOS	Exit	LEIDOS HLDGS INC	$0	–	-12,788	–	-0.12%	–
KHC	Exit	KRAFT HEINZ CO	$0	–	-16,111	–	-0.12%	–
EWU	Exit	ISHARES TRmsci uk etf new	$0	–	-26,000	–	-0.12%	–
RTN	Exit	RAYTHEON CO	$0	–	-4,425	–	-0.12%	–
WPM	Exit	WHEATON PRECIOUS METALS CORP	$0	–	-53,000	–	-0.12%	–
USB	Exit	US BANCORP DEL	$0	–	-18,411	–	-0.13%	–
EMR	Exit	EMERSON ELEC CO	$0	–	-12,800	–	-0.13%	–
AVGO	Exit	BROADCOM INC	$0	–	-4,001	–	-0.13%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-4,650	–	-0.13%	–
PNC	Exit	PNC FINL SVCS GROUP INC	$0	–	-7,717	–	-0.14%	–
AMGN	Exit	AMGEN INC	$0	–	-5,152	–	-0.14%	–
PWZ	Exit	INVESCO EXCHNG TRADED FD TRcalif amt mun	$0	–	-43,550	–	-0.15%	–
HON	Exit	HONEYWELL INTL INC	$0	–	-6,857	–	-0.15%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-997	–	-0.16%	–
PEP	Exit	PEPSICO INC	$0	–	-11,092	–	-0.16%	–
CELG	Exit	CELGENE CORP	$0	–	-14,305	–	-0.17%	–
BAC	Exit	BANK AMER CORP	$0	–	-44,000	–	-0.17%	–
MU	Exit	MICRON TECHNOLOGY INC	$0	–	-30,301	–	-0.18%	–
TAP	Exit	MOLSON COORS BREWING COcl b	$0	–	-22,777	–	-0.19%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-10,186	–	-0.19%	–
CMG	Exit	CHIPOTLE MEXICAN GRILL INC	$0	–	-3,219	–	-0.19%	–
INDA	Exit	ISHARES TRmsci india etf	$0	–	-46,095	–	-0.20%	–
IPGP	Exit	IPG PHOTONICS CORP	$0	–	-10,300	–	-0.21%	–
FHB	Exit	FIRST HAWAIIAN INC	$0	–	-60,700	–	-0.22%	–
XLV	Exit	SELECT SECTOR SPDR TRsbi healthcare	$0	–	-17,440	–	-0.22%	–
IWM	Exit	ISHARES TRrussell 2000 etf	$0	–	-11,123	–	-0.25%	–
ARI	Exit	APOLLO COML REAL EST FIN INC	$0	–	-99,400	–	-0.25%	–
VNQ	Exit	VANGUARD INDEX FDSreal estate etf	$0	–	-23,500	–	-0.25%	–
VNQI	Exit	VANGUARD INTL EQUITY INDEX Fglb ex us etf	$0	–	-34,000	–	-0.25%	–
REET	Exit	ISHARES TRglobal reit etf	$0	–	-77,500	–	-0.26%	–
IYR	Exit	ISHARES TRu.s. real es etf	$0	–	-24,500	–	-0.26%	–
MCD	Exit	MCDONALDS CORP	$0	–	-11,857	–	-0.26%	–
MA	Exit	MASTERCARD INCORPORATEDcl a	$0	–	-9,056	–	-0.27%	–
HE	Exit	HAWAIIAN ELEC INDUSTRIES	$0	–	-60,000	–	-0.28%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-18,134	–	-0.29%	–
BRKA	Exit	BERKSHIRE HATHAWAY INC DELcl a	$0	–	-7	–	-0.30%	–
EFA	Exit	ISHARES TRmsci eafe etf	$0	–	-33,300	–	-0.30%	–
MOS	Exit	MOSAIC CO NEW	$0	–	-70,513	–	-0.30%	–
EWT	Exit	ISHARES INCmsci taiwan etf	$0	–	-61,251	–	-0.31%	–
TEVA	Exit	TEVA PHARMACEUTICAL INDS LTDsponsored adr	$0	–	-109,877	–	-0.32%	–
BHP	Exit	BHP BILLITON LTDsponsored adr	$0	–	-100,000	–	-0.33%	–
PYPL	Exit	PAYPAL HLDGS INC	$0	–	-29,848	–	-0.35%	–
LYB	Exit	LYONDELLBASELL INDUSTRIES N	$0	–	-25,866	–	-0.35%	–
XLF	Exit	SELECT SECTOR SPDR TRsbi int-finl	$0	–	-98,825	–	-0.36%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-48,067	–	-0.39%	–
BOH	Exit	BANK HAWAII CORP	$0	–	-37,220	–	-0.39%	–
PM	Exit	PHILIP MORRIS INTL INC	$0	–	-36,466	–	-0.39%	–
SPY	Exit	SPDR S&P 500 ETF TRtr unit	$0	–	-11,672	–	-0.45%	–
VWO	Exit	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$0	–	-90,000	–	-0.49%	–
QQQ	Exit	INVESCO QQQ TRunit ser 1	$0	–	-21,545	–	-0.53%	–
FAST	Exit	FASTENAL CO	$0	–	-69,100	–	-0.53%	–
EZU	Exit	ISHARES INCmsci eurzone etf	$0	–	-100,780	–	-0.55%	–
FLIR	Exit	FLIR SYS INC	$0	–	-74,090	–	-0.60%	–
C	Exit	CITIGROUP INC	$0	–	-64,403	–	-0.61%	–
CSCO	Exit	CISCO SYS INC	$0	–	-99,719	–	-0.64%	–
EWG	Exit	ISHARES INCmsci germany etf	$0	–	-174,702	–	-0.69%	–
VOO	Exit	VANGUARD INDEX FDS	$0	–	-21,050	–	-0.74%	–
DB	Exit	DEUTSCHE BANK AGnamen akt	$0	–	-500,000	–	-0.76%	–
ORCL	Exit	ORACLE CORP	$0	–	-112,281	–	-0.77%	–
AMZN	Exit	AMAZON COM INC	$0	–	-3,807	–	-1.01%	–
ACGL	Exit	ARCH CAP GROUP LTDord	$0	–	-266,953	–	-1.06%	–
EWJ	Exit	ISHARES INCmsci jpn etf new	$0	–	-135,119	–	-1.08%	–
EWL	Exit	ISHARES INCmsci switzerland	$0	–	-263,038	–	-1.21%	–
TD	Exit	TORONTO DOMINION BK ONT	$0	–	-166,435	–	-1.34%	–
CTSH	Exit	COGNIZANT TECHNOLOGY SOLUTIOcl a	$0	–	-135,454	–	-1.38%	–
QTEC	Exit	FIRST TR NASDAQ100 TECH INDE	$0	–	-134,755	–	-1.42%	–
BMO	Exit	BANK MONTREAL QUE	$0	–	-136,621	–	-1.49%	–
OIH	Exit	VANECK VECTORS ETF TRoil svcs etf	$0	–	-453,395	–	-1.51%	–
INTC	Exit	INTEL CORP	$0	–	-271,776	–	-1.70%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-127,868	–	-1.91%	–
VGK	Exit	VANGUARD INTL EQUITY INDEX Fftse europe etf	$0	–	-260,884	–	-1.94%	–
HYZD	Exit	WISDOMTREE TRhedged hi yld bd	$0	–	-628,422	–	-2.02%	–
CRM	Exit	SALESFORCE COM INC	$0	–	-98,222	–	-2.07%	–
GLD	Exit	SPDR GOLD TRUST	$0	–	-140,203	–	-2.10%	–
BIDU	Exit	BAIDU INCspon adr rep a	$0	–	-77,008	–	-2.34%	–
HD	Exit	HOME DEPOT INC	$0	–	-88,049	–	-2.42%	–
MCHI	Exit	ISHARES TRmsci china etf	$0	–	-345,967	–	-2.75%	–
AZN	Exit	ASTRAZENECA PLCsponsored adr	$0	–	-280,050	–	-2.89%	–
EEM	Exit	ISHARES TRmsci emg mkt etf	$0	–	-564,511	–	-3.21%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-20,074	–	-3.21%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-213,284	–	-3.23%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-155,627	–	-3.39%	–
V	Exit	VISA INC	$0	–	-180,474	–	-3.59%	–
ELD	Exit	WISDOMTREE TRem lcl debt fd	$0	–	-828,082	–	-3.60%	–
EWA	Exit	ISHARES INCmsci aust etf	$0	–	-1,303,499	–	-3.82%	–
CWB	Exit	SPDR SERIES TRUSTblmbrg brc cnvrt	$0	–	-549,673	–	-3.93%	–
DXJ	Exit	WISDOMTREE TRjapn hedge eqt	$0	–	-555,429	–	-4.27%	–
AAPL	Exit	APPLE INC	$0	–	-145,617	–	-4.36%	–
OEF	Exit	ISHARES TRs&p 100 etf	$0	–	-397,907	–	-6.84%	–

Q3 2018

			Value		Shares		↓ Weighting
OEF	Sell	ISHARES TRs&p 100 etf	$51,577,000	-0.2%	397,907	-7.9%	6.84%	-11.1%
AAPL	Buy	APPLE INC	$32,872,000	+29.1%	145,617	+5.9%	4.36%	+15.0%
DXJ	Sell	WISDOMTREE TRjapn hedge eqt	$32,187,000	-18.3%	555,429	-23.9%	4.27%	-27.2%
CWB	Buy	SPDR SERIES TRUSTblmbrg brc cnvrt	$29,649,000	+5.5%	549,673	+3.7%	3.93%	-6.0%
EWA	Sell	ISHARES INCmsci aust etf	$28,833,000	-10.0%	1,303,499	-8.0%	3.82%	-19.8%
ELD	New	WISDOMTREE TRem lcl debt fd	$27,178,000	–	828,082	–	3.60%	–
V	Buy	VISA INC	$27,087,000	+32.7%	180,474	+17.1%	3.59%	+18.2%
FB	Buy	FACEBOOK INCcl a	$25,594,000	+27.4%	155,627	+50.5%	3.39%	+13.4%
MSFT	Buy	MICROSOFT CORP	$24,393,000	+39.8%	213,284	+20.5%	3.23%	+24.5%
GOOGL	Buy	ALPHABET INCcap stk cl a	$24,231,000	+40.2%	20,074	+31.1%	3.21%	+24.9%
EEM	Buy	ISHARES TRmsci emg mkt etf	$24,229,000	+14.6%	564,511	+15.7%	3.21%	+2.1%
AZN	Buy	ASTRAZENECA PLCsponsored adr	$21,777,000	+13.8%	280,050	+1.5%	2.89%	+1.4%
MCHI	Sell	ISHARES TRmsci china etf	$20,720,000	-13.3%	345,967	-6.5%	2.75%	-22.8%
HD	Buy	HOME DEPOT INC	$18,239,000	+26.7%	88,049	+19.3%	2.42%	+12.8%
BIDU	Sell	BAIDU INCspon adr rep a	$17,610,000	-12.8%	77,008	-7.3%	2.34%	-22.3%
GLD	Sell	SPDR GOLD TRUST	$15,809,000	-12.5%	140,203	-7.9%	2.10%	-22.0%
CRM	Buy	SALESFORCE COM INC	$15,620,000	+19.9%	98,222	+2.8%	2.07%	+6.8%
HYZD	Sell	WISDOMTREE TRhedged hi yld bd	$15,214,000	+0.9%	628,422	-0.3%	2.02%	-10.1%
VGK	Sell	VANGUARD INTL EQUITY INDEX Fftse europe etf	$14,667,000	-40.7%	260,884	-40.8%	1.94%	-47.1%
JPM	Sell	JPMORGAN CHASE & CO	$14,429,000	-1.1%	127,868	-8.7%	1.91%	-11.9%
INTC	Buy	INTEL CORP	$12,852,000	+10.2%	271,776	+15.9%	1.70%	-1.8%
OIH	Sell	VANECK VECTORS ETF TRoil svcs etf	$11,421,000	-6.4%	453,395	-2.4%	1.51%	-16.6%
BMO	Buy	BANK MONTREAL QUE	$11,261,000	+7.5%	136,621	+0.8%	1.49%	-4.2%
QTEC	Buy	FIRST TR NASDAQ100 TECH INDE	$10,694,000	+168.7%	134,755	+160.9%	1.42%	+139.5%
CTSH	Buy	COGNIZANT TECHNOLOGY SOLUTIOcl a	$10,450,000	+0.5%	135,454	+2.9%	1.38%	-10.5%
TD	Sell	TORONTO DOMINION BK ONT	$10,106,000	+1.6%	166,435	-3.2%	1.34%	-9.5%
EWL	Sell	ISHARES INCmsci switzerland	$9,125,000	-2.2%	263,038	-8.1%	1.21%	-12.8%
EWJ	Buy	ISHARES INCmsci jpn etf new	$8,138,000	+7.7%	135,119	+3.5%	1.08%	-4.1%
ACGL	Sell	ARCH CAP GROUP LTDord	$7,958,000	+6.2%	266,953	-5.7%	1.06%	-5.4%
AMZN	Buy	AMAZON COM INC	$7,625,000	+30.9%	3,807	+11.1%	1.01%	+16.6%
ORCL	Buy	ORACLE CORP	$5,789,000	+19.4%	112,281	+2.0%	0.77%	+6.2%
DB	Sell	DEUTSCHE BANK AGnamen akt	$5,708,000	+2.9%	500,000	-2.9%	0.76%	-8.2%
VOO	Buy	VANGUARD INDEX FDS	$5,621,000	+174.9%	21,050	+156.9%	0.74%	+145.1%
EWG	Buy	ISHARES INCmsci germany etf	$5,196,000	+24.4%	174,702	+25.4%	0.69%	+10.8%
CSCO	Buy	CISCO SYS INC	$4,851,000	+37.0%	99,719	+21.2%	0.64%	+22.0%
C	Sell	CITIGROUP INC	$4,620,000	-27.5%	64,403	-32.4%	0.61%	-35.4%
FLIR	Buy	FLIR SYS INC	$4,554,000	+30.0%	74,090	+10.0%	0.60%	+15.9%
EZU	Buy	ISHARES INCmsci eurzone etf	$4,132,000	+35.1%	100,780	+35.2%	0.55%	+20.4%
FAST	New	FASTENAL CO	$4,009,000	–	69,100	–	0.53%	–
QQQ	Sell	INVESCO QQQ TRunit ser 1	$4,003,000	-16.8%	21,545	-23.1%	0.53%	-25.8%
VWO	Buy	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$3,690,000	+118.6%	90,000	+125.0%	0.49%	+94.8%
SPY	Sell	SPDR S&P 500 ETF TRtr unit	$3,393,000	-4.2%	11,672	-10.6%	0.45%	-14.6%
PM	Buy	PHILIP MORRIS INTL INC	$2,973,000	+22.2%	36,466	+21.1%	0.39%	+8.8%
BOH	Sell	BANK HAWAII CORP	$2,937,000	-6.9%	37,220	-1.6%	0.39%	-17.1%
SLB	Buy	SCHLUMBERGER LTD	$2,928,000	-6.7%	48,067	+2.7%	0.39%	-16.9%
XLF	Sell	SELECT SECTOR SPDR TRsbi int-finl	$2,726,000	-28.5%	98,825	-31.1%	0.36%	-36.4%
LYB	Buy	LYONDELLBASELL INDUSTRIES N	$2,652,000	-4.1%	25,866	+2.8%	0.35%	-14.4%
PYPL	Buy	PAYPAL HLDGS INC	$2,622,000	+55.6%	29,848	+47.5%	0.35%	+38.6%
BHP	Sell	BHP BILLITON LTDsponsored adr	$2,506,000	-12.1%	100,000	-12.1%	0.33%	-21.7%
TEVA	Buy	TEVA PHARMACEUTICAL INDS LTDsponsored adr	$2,409,000	-4.0%	109,877	+3.8%	0.32%	-14.7%
MOS	New	MOSAIC CO NEW	$2,290,000	–	70,513	–	0.30%	–
EFA	Sell	ISHARES TRmsci eafe etf	$2,264,000	-12.6%	33,300	-13.9%	0.30%	-22.1%
CVX	Sell	CHEVRON CORP NEW	$2,217,000	-63.9%	18,134	-62.6%	0.29%	-67.8%
MA	Buy	MASTERCARD INCORPORATEDcl a	$2,016,000	+32.4%	9,056	+16.9%	0.27%	+17.6%
MCD	Buy	MCDONALDS CORP	$1,984,000	+73.0%	11,857	+62.0%	0.26%	+53.8%
IYR	New	ISHARES TRu.s. real es etf	$1,960,000	–	24,500	–	0.26%	–
REET	New	ISHARES TRglobal reit etf	$1,955,000	–	77,500	–	0.26%	–
VNQI	New	VANGUARD INTL EQUITY INDEX Fglb ex us etf	$1,910,000	–	34,000	–	0.25%	–
VNQ	New	VANGUARD INDEX FDSreal estate etf	$1,896,000	–	23,500	–	0.25%	–
ARI	Buy	APOLLO COML REAL EST FIN INC	$1,876,000	+39.3%	99,400	+34.9%	0.25%	+24.5%
IWM	Buy	ISHARES TRrussell 2000 etf	$1,875,000	+16.5%	11,123	+13.1%	0.25%	+3.8%
XLV	Buy	SELECT SECTOR SPDR TRsbi healthcare	$1,659,000	+42.6%	17,440	+25.1%	0.22%	+27.2%
IPGP	New	IPG PHOTONICS CORP	$1,608,000	–	10,300	–	0.21%	–
CMG	Buy	CHIPOTLE MEXICAN GRILL INC	$1,463,000	+111.7%	3,219	+100.8%	0.19%	+88.3%
JNJ	Buy	JOHNSON & JOHNSON	$1,407,000	+242.3%	10,186	+200.8%	0.19%	+206.6%
TAP	Buy	MOLSON COORS BREWING COcl b	$1,401,000	+106.0%	22,777	+127.8%	0.19%	+84.2%
MU	Buy	MICRON TECHNOLOGY INC	$1,371,000	-10.0%	30,301	+4.4%	0.18%	-19.8%
BAC	New	BANK AMER CORP	$1,296,000	–	44,000	–	0.17%	–
CELG	New	CELGENE CORP	$1,280,000	–	14,305	–	0.17%	–
PEP	Buy	PEPSICO INC	$1,240,000	+34.1%	11,092	+30.6%	0.16%	+18.8%
GOOG	Buy	ALPHABET INCcap stk cl c	$1,190,000	+16.3%	997	+8.7%	0.16%	+3.9%
HON	Buy	HONEYWELL INTL INC	$1,141,000	+141.2%	6,857	+108.9%	0.15%	+115.7%
PWZ	Buy	INVESCO EXCHNG TRADED FD TRcalif amt mun	$1,110,000	+25.0%	43,550	+26.8%	0.15%	+11.4%
AMGN	Buy	AMGEN INC	$1,068,000	+79.5%	5,152	+59.9%	0.14%	+59.6%
PNC	Sell	PNC FINL SVCS GROUP INC	$1,051,000	-39.5%	7,717	-40.0%	0.14%	-46.3%
BRKB	Buy	BERKSHIRE HATHAWAY INC DELcl b new	$996,000	+42.3%	4,650	+24.0%	0.13%	+26.9%
AVGO	New	BROADCOM INC	$987,000	–	4,001	–	0.13%	–
EMR	Buy	EMERSON ELEC CO	$980,000	+167.8%	12,800	+141.5%	0.13%	+140.7%
USB	Buy	US BANCORP DEL	$972,000	+26.6%	18,411	+19.9%	0.13%	+13.2%
RTN	New	RAYTHEON CO	$914,000	–	4,425	–	0.12%	–
KHC	New	KRAFT HEINZ CO	$888,000	–	16,111	–	0.12%	–
EWU	New	ISHARES TRmsci uk etf new	$887,000	–	26,000	–	0.12%	–
MMM	Buy	3M CO	$885,000	+94.1%	4,198	+81.1%	0.12%	+72.1%
LDOS	Buy	LEIDOS HLDGS INC	$884,000	+138.3%	12,788	+103.4%	0.12%	+112.7%
SYMC	New	SYMANTEC CORP	$851,000	–	40,000	–	0.11%	–
WM	Buy	WASTE MGMT INC DEL	$849,000	+272.4%	9,400	+235.7%	0.11%	+232.4%
CMF	Sell	ISHARES TRcalif mun bd etf	$841,000	-16.5%	14,499	-15.7%	0.11%	-26.0%
XRAY	New	DENTSPLY SIRONA INC	$815,000	–	21,600	–	0.11%	–
PFE	Buy	PFIZER INC	$801,000	+102.8%	18,165	+66.8%	0.11%	+79.7%
AWK	Buy	AMERICAN WTR WKS CO INC NEW	$785,000	+9.0%	8,928	+5.9%	0.10%	-2.8%
UNH	New	UNITEDHEALTH GROUP INC	$745,000	–	2,800	–	0.10%	–
MRK	New	MERCK & CO INC	$742,000	–	10,455	–	0.10%	–
SPGI	New	S&P GLOBAL INC	$698,000	–	3,574	–	0.09%	–
WFC	Sell	WELLS FARGO CO NEW	$679,000	-50.5%	12,913	-47.8%	0.09%	-55.9%
CBRE	New	CBRE GROUP INCcl a	$646,000	–	14,654	–	0.09%	–
LH	Buy	LABORATORY CORP AMER HLDGS	$646,000	+64.4%	3,718	+69.9%	0.09%	+48.3%
DWDP	New	DOWDUPONT INC	$634,000	–	9,858	–	0.08%	–
XLK	New	SELECT SECTOR SPDR TRtechnology	$625,000	–	8,300	–	0.08%	–
GS	Buy	GOLDMAN SACHS GROUP INC	$609,000	+10.5%	2,718	+8.8%	0.08%	-1.2%
EOG	Buy	EOG RES INC	$613,000	+29.3%	4,807	+26.3%	0.08%	+14.1%
TXN	New	TEXAS INSTRS INC	$601,000	–	5,600	–	0.08%	–
TMO	Buy	THERMO FISHER SCIENTIFIC INC	$586,000	+64.6%	2,401	+39.5%	0.08%	+47.2%
BABA	New	ALIBABA GROUP HLDG LTDsponsored ads	$550,000	–	3,341	–	0.07%	–
ICE	New	INTERCONTINENTAL EXCHANGE IN	$554,000	–	7,403	–	0.07%	–
LLY	New	LILLY ELI & CO	$526,000	–	4,900	–	0.07%	–
ADP	New	AUTOMATIC DATA PROCESSING IN	$516,000	–	3,425	–	0.07%	–
TEL	Buy	TE CONNECTIVITY LTD	$510,000	+6.9%	5,801	+9.6%	0.07%	-4.2%
CME	New	CME GROUP INC	$506,000	–	2,975	–	0.07%	–
ABBV	Buy	ABBVIE INC	$503,000	+4.8%	5,321	+2.8%	0.07%	-5.6%
CE	Buy	CELANESE CORP DEL	$478,000	+39.4%	4,190	+35.6%	0.06%	+23.5%
BLK	Buy	BLACKROCK INC	$470,000	+15.2%	997	+22.0%	0.06%	+1.6%
AME	Buy	AMETEK INC NEW	$440,000	+13.7%	5,560	+3.5%	0.06%	0.0%
NKE	Buy	NIKE INCcl b	$431,000	+40.4%	5,090	+32.2%	0.06%	+23.9%
SJNK	Buy	SPDR SER TRbloomberg srt tr	$430,000	+2.4%	15,600	+1.5%	0.06%	-9.5%
NEE	New	NEXTERA ENERGY INC	$423,000	–	2,525	–	0.06%	–
TUR	New	ISHARES INCmsci turkey etf	$417,000	–	17,500	–	0.06%	–
DHR	Buy	DANAHER CORP DEL	$407,000	+14.6%	3,750	+4.2%	0.05%	+1.9%
EW	Sell	EDWARDS LIFESCIENCES CORP	$390,000	+5.4%	2,241	-11.8%	0.05%	-5.5%
FEZ	Sell	SPDR INDEX SHS FDSeuro stoxx 50	$367,000	-88.8%	9,600	-88.8%	0.05%	-90.0%
JD	Buy	JD COM INCspon adr cl a	$346,000	-29.5%	13,266	+5.3%	0.05%	-37.0%
TJX	New	TJX COS INC NEW	$336,000	–	3,000	–	0.04%	–
KMB	New	KIMBERLY CLARK CORP	$332,000	–	2,925	–	0.04%	–
EWQ	New	ISHARES INCmsci france etf	$298,000	–	9,500	–	0.04%	–
ILF	New	ISHARES TRlatn amer 40 etf	$295,000	–	9,400	–	0.04%	–
EWC	New	ISHARES INCmsci cda etf	$288,000	–	10,000	–	0.04%	–
XLNX	New	XILINX INC	$234,000	–	2,922	–	0.03%	–
BBT	Sell	BB&T CORP	$230,000	-90.7%	4,740	-90.4%	0.03%	-91.9%
BSV	New	VANGUARD BD INDEX FD INCshort trm bond	$219,000	–	2,811	–	0.03%	–
EWS	New	ISHARES INCmsci singpor etf	$211,000	–	8,695	–	0.03%	–
SYF	New	SYNCHRONY FINL	$200,000	–	6,440	–	0.03%	–
RSX	New	VANECK VECTORS ETF TRrussia etf	$203,000	–	9,400	–	0.03%	–
BP	Exit	BP PLCsponsored adr	$0	–	-20,500	–	-0.02%	–
HSBC	Exit	HSBC HLDGS PLCspon adr new	$0	–	-18,800	–	-0.03%	–
IPKW	Exit	INVESCO EXCHNG TRADED FD TRintl buyback	$0	–	-5,700	–	-0.03%	–
IHY	Exit	VANECK VECTORS ETF TRintl high yield	$0	–	-9,000	–	-0.03%	–
IYH	Exit	ISHARES TRus hlthcare etf	$0	–	-1,330	–	-0.04%	–
MCHP	Exit	MICROCHIP TECHNOLOGY INC	$0	–	-3,210	–	-0.04%	–
GSK	Exit	GLAXOSMITHKLINE PLCsponsored adr	$0	–	-21,800	–	-0.06%	–
SNY	Exit	SANOFIsponsored adr	$0	–	-10,000	–	-0.12%	–
WDC	Exit	WESTERN DIGITAL CORP	$0	–	-10,845	–	-0.12%	–
XLE	Exit	SELECT SECTOR SPDR TRenergy	$0	–	-11,480	–	-0.13%	–
F	Exit	FORD MTR CO DEL	$0	–	-100,000	–	-0.16%	–
HAL	Exit	HALLIBURTON CO	$0	–	-24,850	–	-0.17%	–
PKW	Exit	INVESCO EXCHANGE TRADED FD Tbuyback achiev	$0	–	-182,011	–	-1.54%	–

Q2 2018

			Value		Shares		↓ Weighting
OEF	New	ISHARES TRs&p 100 etf	$51,688,000	–	432,172	–	7.69%	–
DXJ	New	WISDOMTREE TRjapn hedge eqt	$39,394,000	–	729,790	–	5.86%	–
EWA	New	ISHARES INCmsci aust etf	$32,037,000	–	1,416,925	–	4.77%	–
CWB	New	SPDR SERIES TRUSTblmbrg brc cnvrt	$28,108,000	–	530,142	–	4.18%	–
AAPL	New	APPLE INC	$25,458,000	–	137,528	–	3.79%	–
VGK	New	VANGUARD INTL EQUITY INDEX Fftse europe etf	$24,724,000	–	440,476	–	3.68%	–
MCHI	New	ISHARES TRmsci china etf	$23,904,000	–	370,037	–	3.56%	–
EEM	New	ISHARES TRmsci emg mkt etf	$21,134,000	–	487,745	–	3.14%	–
V	New	VISA INC	$20,413,000	–	154,120	–	3.04%	–
BIDU	New	BAIDU INCspon adr rep a	$20,186,000	–	83,068	–	3.00%	–
FB	New	FACEBOOK INCcl a	$20,097,000	–	103,421	–	2.99%	–
AZN	New	ASTRAZENECA PLCsponsored adr	$19,132,000	–	275,870	–	2.85%	–
GLD	New	SPDR GOLD TRUST	$18,061,000	–	152,220	–	2.69%	–
MSFT	New	MICROSOFT CORP	$17,453,000	–	176,993	–	2.60%	–
GOOGL	New	ALPHABET INCcap stk cl a	$17,289,000	–	15,311	–	2.57%	–
HYZD	New	WISDOMTREE TRhedged hi yld bd	$15,074,000	–	630,170	–	2.24%	–
JPM	New	JPMORGAN CHASE & CO	$14,591,000	–	140,031	–	2.17%	–
HD	New	HOME DEPOT INC	$14,398,000	–	73,798	–	2.14%	–
CRM	New	SALESFORCE COM INC	$13,028,000	–	95,516	–	1.94%	–
OIH	New	VANECK VECTORS ETF TRoil svcs etf	$12,205,000	–	464,586	–	1.82%	–
INTC	New	INTEL CORP	$11,660,000	–	234,553	–	1.74%	–
BMO	New	BANK MONTREAL QUE	$10,471,000	–	135,543	–	1.56%	–
CTSH	New	COGNIZANT TECHNOLOGY SOLUTIOcl a	$10,398,000	–	131,641	–	1.55%	–
PKW	New	INVESCO EXCHANGE TRADED FD Tbuyback achiev	$10,335,000	–	182,011	–	1.54%	–
TD	New	TORONTO DOMINION BK ONT	$9,942,000	–	171,873	–	1.48%	–
EWL	New	ISHARES INCmsci switzerland	$9,326,000	–	286,237	–	1.39%	–
EWJ	New	ISHARES INCmsci jpn etf new	$7,559,000	–	130,527	–	1.12%	–
ACGL	New	ARCH CAP GROUP LTDord	$7,492,000	–	283,140	–	1.12%	–
C	New	CITIGROUP INC	$6,374,000	–	95,244	–	0.95%	–
CVX	New	CHEVRON CORP NEW	$6,138,000	–	48,547	–	0.91%	–
AMZN	New	AMAZON COM INC	$5,824,000	–	3,426	–	0.87%	–
DB	New	DEUTSCHE BANK AGnamen akt	$5,545,000	–	514,950	–	0.82%	–
ORCL	New	ORACLE CORP	$4,849,000	–	110,052	–	0.72%	–
QQQ	New	INVESCO QQQ TRunit ser 1	$4,810,000	–	28,020	–	0.72%	–
EWG	New	ISHARES INCmsci germany etf	$4,176,000	–	139,283	–	0.62%	–
QTEC	New	FIRST TR NASDAQ100 TECH INDE	$3,980,000	–	51,642	–	0.59%	–
XLF	New	SELECT SECTOR SPDR TRsbi int-finl	$3,814,000	–	143,425	–	0.57%	–
CSCO	New	CISCO SYS INC	$3,540,000	–	82,268	–	0.53%	–
SPY	New	SPDR S&P 500 ETF TRtr unit	$3,542,000	–	13,057	–	0.53%	–
FLIR	New	FLIR SYS INC	$3,502,000	–	67,384	–	0.52%	–
FEZ	New	SPDR INDEX SHS FDSeuro stoxx 50	$3,284,000	–	85,685	–	0.49%	–
BOH	New	BANK HAWAII CORP	$3,154,000	–	37,811	–	0.47%	–
SLB	New	SCHLUMBERGER LTD	$3,138,000	–	46,808	–	0.47%	–
EZU	New	ISHARES INCmsci eurzone etf	$3,058,000	–	74,565	–	0.46%	–
BHP	New	BHP BILLITON LTDsponsored adr	$2,851,000	–	113,800	–	0.42%	–
LYB	New	LYONDELLBASELL INDUSTRIES N	$2,764,000	–	25,159	–	0.41%	–
EFA	New	ISHARES TRmsci eafe etf	$2,589,000	–	38,658	–	0.38%	–
TEVA	New	TEVA PHARMACEUTICAL INDS LTDsponsored adr	$2,510,000	–	105,828	–	0.37%	–
BBT	New	BB&T CORP	$2,478,000	–	49,129	–	0.37%	–
PM	New	PHILIP MORRIS INTL INC	$2,432,000	–	30,124	–	0.36%	–
EWT	New	ISHARES INCmsci taiwan etf	$2,205,000	–	61,251	–	0.33%	–
HE	New	HAWAIIAN ELEC INDUSTRIES	$2,058,000	–	60,000	–	0.31%	–
VOO	New	VANGUARD INDEX FDS	$2,045,000	–	8,195	–	0.30%	–
BRKA	New	BERKSHIRE HATHAWAY INC DELcl a	$1,974,000	–	7	–	0.29%	–
FHB	New	FIRST HAWAIIAN INC	$1,762,000	–	60,700	–	0.26%	–
PNC	New	PNC FINL SVCS GROUP INC	$1,738,000	–	12,868	–	0.26%	–
VWO	New	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$1,688,000	–	40,000	–	0.25%	–
PYPL	New	PAYPAL HLDGS INC	$1,685,000	–	20,237	–	0.25%	–
IWM	New	ISHARES TRrussell 2000 etf	$1,610,000	–	9,833	–	0.24%	–
INDA	New	ISHARES TRmsci india etf	$1,534,000	–	46,095	–	0.23%	–
MA	New	MASTERCARD INCORPORATEDcl a	$1,523,000	–	7,749	–	0.23%	–
MU	New	MICRON TECHNOLOGY INC	$1,523,000	–	29,034	–	0.23%	–
WFC	New	WELLS FARGO CO NEW	$1,371,000	–	24,731	–	0.20%	–
ARI	New	APOLLO COML REAL EST FIN INC	$1,347,000	–	73,700	–	0.20%	–
WPM	New	WHEATON PRECIOUS METALS CORP	$1,169,000	–	53,000	–	0.17%	–
XLV	New	SELECT SECTOR SPDR TRsbi healthcare	$1,163,000	–	13,940	–	0.17%	–
MCD	New	MCDONALDS CORP	$1,147,000	–	7,317	–	0.17%	–
HAL	New	HALLIBURTON CO	$1,120,000	–	24,850	–	0.17%	–
F	New	FORD MTR CO DEL	$1,107,000	–	100,000	–	0.16%	–
GOOG	New	ALPHABET INCcap stk cl c	$1,023,000	–	917	–	0.15%	–
CMF	New	ISHARES TRcalif mun bd etf	$1,007,000	–	17,199	–	0.15%	–
PEP	New	PEPSICO INC	$925,000	–	8,492	–	0.14%	–
PWZ	New	INVESCO EXCHNG TRADED FD TRcalif amt mun	$888,000	–	34,350	–	0.13%	–
XLE	New	SELECT SECTOR SPDR TRenergy	$872,000	–	11,480	–	0.13%	–
XOM	New	EXXON MOBIL CORP	$860,000	–	10,400	–	0.13%	–
GOLD	New	BARRICK GOLD CORP	$853,000	–	65,000	–	0.13%	–
WDC	New	WESTERN DIGITAL CORP	$840,000	–	10,845	–	0.12%	–
SNY	New	SANOFIsponsored adr	$802,000	–	10,000	–	0.12%	–
CMCSA	New	COMCAST CORP NEWcl a	$802,000	–	24,440	–	0.12%	–
USB	New	US BANCORP DEL	$768,000	–	15,361	–	0.11%	–
AWK	New	AMERICAN WTR WKS CO INC NEW	$720,000	–	8,428	–	0.11%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$700,000	–	3,750	–	0.10%	–
CMG	New	CHIPOTLE MEXICAN GRILL INC	$691,000	–	1,603	–	0.10%	–
TAP	New	MOLSON COORS BREWING COcl b	$680,000	–	10,000	–	0.10%	–
GMF	New	SPDR INDEX SHS FDSasia pacif etf	$635,000	–	6,383	–	0.10%	–
ZTS	New	ZOETIS INCcl a	$606,000	–	7,117	–	0.09%	–
AMGN	New	AMGEN INC	$595,000	–	3,223	–	0.09%	–
FLT	New	FLEETCOR TECHNOLOGIES INC	$588,000	–	2,790	–	0.09%	–
GS	New	GOLDMAN SACHS GROUP INC	$551,000	–	2,498	–	0.08%	–
PX	New	PRAXAIR INC	$540,000	–	3,415	–	0.08%	–
JD	New	JD COM INCspon adr cl a	$491,000	–	12,600	–	0.07%	–
PG	New	PROCTER AND GAMBLE CO	$489,000	–	6,261	–	0.07%	–
ABBV	New	ABBVIE INC	$480,000	–	5,177	–	0.07%	–
EOG	New	EOG RES INC	$474,000	–	3,807	–	0.07%	–
THD	New	ISHARES INCmsci thailnd etf	$474,000	–	5,760	–	0.07%	–
TEL	New	TE CONNECTIVITY LTD	$477,000	–	5,291	–	0.07%	–
HON	New	HONEYWELL INTL INC	$473,000	–	3,282	–	0.07%	–
MMM	New	3M CO	$456,000	–	2,318	–	0.07%	–
INCO	New	COLUMBIA ETF TR IIindia consmr etf	$440,000	–	9,589	–	0.06%	–
AGG	New	ISHARES TRcore us aggbd et	$436,000	–	4,100	–	0.06%	–
GSK	New	GLAXOSMITHKLINE PLCsponsored adr	$440,000	–	21,800	–	0.06%	–
SJNK	New	SPDR SER TRbloomberg srt tr	$420,000	–	15,375	–	0.06%	–
CHKP	New	CHECK POINT SOFTWARE TECH LTord	$408,000	–	4,172	–	0.06%	–
BLK	New	BLACKROCK INC	$408,000	–	817	–	0.06%	–
JNJ	New	JOHNSON & JOHNSON	$411,000	–	3,386	–	0.06%	–
CTRP	New	CTRIP COM INTL LTD	$410,000	–	8,600	–	0.06%	–
DISCK	New	DISCOVERY INC	$413,000	–	16,200	–	0.06%	–
PFE	New	PFIZER INC	$395,000	–	10,890	–	0.06%	–
AME	New	AMETEK INC NEW	$387,000	–	5,370	–	0.06%	–
LH	New	LABORATORY CORP AMER HLDGS	$393,000	–	2,188	–	0.06%	–
EW	New	EDWARDS LIFESCIENCES CORP	$370,000	–	2,541	–	0.06%	–
LDOS	New	LEIDOS HLDGS INC	$371,000	–	6,288	–	0.06%	–
EIDO	New	ISHARES TRmsci indonia etf	$365,000	–	15,901	–	0.05%	–
VNM	New	VANECK VECTORS ETF TRvietnam etf	$361,000	–	22,614	–	0.05%	–
EMR	New	EMERSON ELEC CO	$366,000	–	5,300	–	0.05%	–
DHR	New	DANAHER CORP DEL	$355,000	–	3,600	–	0.05%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$356,000	–	1,721	–	0.05%	–
FIS	New	FIDELITY NATL INFORMATION SV	$346,000	–	3,263	–	0.05%	–
CE	New	CELANESE CORP DEL	$343,000	–	3,090	–	0.05%	–
PZA	New	INVESCO EXCHNG TRADED FD TRnatl amt muni	$327,000	–	13,000	–	0.05%	–
SABR	New	SABRE CORP	$328,000	–	13,314	–	0.05%	–
QCOM	New	QUALCOMM INC	$309,000	–	5,500	–	0.05%	–
NKE	New	NIKE INCcl b	$307,000	–	3,850	–	0.05%	–
TFI	New	SPDR SER TRnuveen brc munic	$300,000	–	6,250	–	0.04%	–
MCHP	New	MICROCHIP TECHNOLOGY INC	$292,000	–	3,210	–	0.04%	–
CCL	New	CARNIVAL CORPunit 99/99/9999	$253,000	–	4,409	–	0.04%	–
EPHE	New	ISHARES TRmsci philips etf	$253,000	–	8,379	–	0.04%	–
IYH	New	ISHARES TRus hlthcare etf	$237,000	–	1,330	–	0.04%	–
UTX	New	UNITED TECHNOLOGIES CORP	$233,000	–	1,860	–	0.04%	–
WM	New	WASTE MGMT INC DEL	$228,000	–	2,800	–	0.03%	–
IHY	New	VANECK VECTORS ETF TRintl high yield	$219,000	–	9,000	–	0.03%	–
IPKW	New	INVESCO EXCHNG TRADED FD TRintl buyback	$205,000	–	5,700	–	0.03%	–
TPR	New	TAPESTRY INC	$206,000	–	4,420	–	0.03%	–
TSM	New	TAIWAN SEMICONDUCTOR MFG LTDsponsored adr	$189,000	–	26,682	–	0.03%	–
HSBC	New	HSBC HLDGS PLCspon adr new	$176,000	–	18,800	–	0.03%	–
BP	New	BP PLCsponsored adr	$157,000	–	20,500	–	0.02%	–
TTM	New	TATA MTRS LTDsponsored adr	$49,000	–	12,515	–	0.01%	–

Q4 2017

			Value		Shares		↓ Weighting
TTM	Exit	TATA MTRS LTDsponsored adr	$0	–	-12,515	–	-0.01%	–
BP	Exit	BP PLCsponsored adr	$0	–	-22,300	–	-0.02%	–
HSBC	Exit	HSBC HLDGS PLCspon adr new	$0	–	-18,800	–	-0.03%	–
TSM	Exit	TAIWAN SEMICONDUCTOR MFG LTDsponsored adr	$0	–	-26,682	–	-0.03%	–
XLNX	Exit	XILINX INC	$0	–	-2,922	–	-0.03%	–
IYH	Exit	ISHARES TRus hlthcare etf	$0	–	-1,330	–	-0.04%	–
IHY	Exit	VANECK VECTORS ETF TRintl high yield	$0	–	-9,000	–	-0.04%	–
LH	Exit	LABORATORY CORP AMER HLDGS	$0	–	-1,620	–	-0.04%	–
HYG	Exit	ISHARES TRiboxx hi yd etf	$0	–	-2,800	–	-0.04%	–
MGK	Exit	VANGUARD WORLD FDmega grwth ind	$0	–	-2,500	–	-0.04%	–
CORP	Exit	PIMCO ETF TRinv grd crp bd	$0	–	-2,560	–	-0.04%	–
SRCL	Exit	STERICYCLE INC	$0	–	-3,969	–	-0.04%	–
NKE	Exit	NIKE INCcl b	$0	–	-5,510	–	-0.04%	–
IPKW	Exit	POWERSHARES ETF TR IIpwrs int buybk	$0	–	-8,550	–	-0.05%	–
UTX	Exit	UNITED TECHNOLOGIES CORP	$0	–	-2,546	–	-0.05%	–
PFE	Exit	PFIZER INC	$0	–	-8,293	–	-0.05%	–
NJV	Exit	NUVEEN NEW JERSEY MUN VALUE	$0	–	-20,063	–	-0.05%	–
BWA	Exit	BORGWARNER INC	$0	–	-5,900	–	-0.05%	–
TFI	Exit	SPDR SER TRnuveen brc munic	$0	–	-6,250	–	-0.05%	–
FIS	Exit	FIDELITY NATL INFORMATION SV	$0	–	-3,346	–	-0.05%	–
EPHE	Exit	ISHARES TRmsci philips etf	$0	–	-8,379	–	-0.05%	–
TEL	Exit	TE CONNECTIVITY LTD	$0	–	-3,725	–	-0.05%	–
DHR	Exit	DANAHER CORP DEL	$0	–	-3,800	–	-0.05%	–
EMR	Exit	EMERSON ELEC CO	$0	–	-5,300	–	-0.05%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC	$0	–	-1,764	–	-0.05%	–
PZA	Exit	POWERSHARES ETF TR IIinsur natl mun	$0	–	-13,000	–	-0.05%	–
VNM	Exit	VANECK VECTORS ETF TRvietnam etf	$0	–	-22,614	–	-0.05%	–
ABBV	Exit	ABBVIE INC	$0	–	-3,766	–	-0.05%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-355	–	-0.05%	–
EOG	Exit	EOG RES INC	$0	–	-3,707	–	-0.06%	–
AMGN	Exit	AMGEN INC	$0	–	-1,944	–	-0.06%	–
EWJ	Exit	ISHARES INCmsci jpn etf new	$0	–	-6,449	–	-0.06%	–
BLK	Exit	BLACKROCK INC	$0	–	-817	–	-0.06%	–
HON	Exit	HONEYWELL INTL INC	$0	–	-2,620	–	-0.06%	–
AME	Exit	AMETEK INC NEW	$0	–	-5,750	–	-0.06%	–
INCO	Exit	COLUMBIA ETF TR IIindia consmr etf	$0	–	-9,589	–	-0.06%	–
EWM	Exit	ISHARES INCmsci mly etf new	$0	–	-12,825	–	-0.07%	–
EIDO	Exit	ISHARES TRmsci indonia etf	$0	–	-15,901	–	-0.07%	–
RSX	Exit	VANECK VECTORS ETF TRrussia etf	$0	–	-19,250	–	-0.07%	–
AGG	Exit	ISHARES TRcore us aggbd et	$0	–	-4,100	–	-0.07%	–
LDOS	Exit	LEIDOS HLDGS INC	$0	–	-7,550	–	-0.07%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-3,566	–	-0.07%	–
SNY	Exit	SANOFIsponsored adr	$0	–	-4,680	–	-0.07%	–
MMM	Exit	3M CO	$0	–	-2,289	–	-0.08%	–
CHKP	Exit	CHECK POINT SOFTWARE TECH LTord	$0	–	-4,322	–	-0.08%	–
THD	Exit	ISHARES INCmsci thi cap etf	$0	–	-5,760	–	-0.08%	–
PCG	Exit	PG&E CORP	$0	–	-7,838	–	-0.08%	–
IVE	Exit	ISHARES TRs&p 500 val etf	$0	–	-5,500	–	-0.09%	–
ALB	Exit	ALBEMARLE CORP	$0	–	-4,751	–	-0.10%	–
GS	Exit	GOLDMAN SACHS GROUP INC	$0	–	-3,050	–	-0.11%	–
BHP	Exit	BHP BILLITON LTDsponsored adr	$0	–	-37,800	–	-0.12%	–
XLE	Exit	SELECT SECTOR SPDR TRenergy	$0	–	-11,567	–	-0.12%	–
PG	Exit	PROCTER AND GAMBLE CO	$0	–	-8,745	–	-0.13%	–
MOAT	Exit	VANECK VECTORS ETF TRmorningstar wide	$0	–	-21,367	–	-0.14%	–
CAT	Exit	CATERPILLAR INC DEL	$0	–	-7,000	–	-0.14%	–
XLP	Exit	SELECT SECTOR SPDR TRsbi cons stpls	$0	–	-16,844	–	-0.14%	–
XRAY	Exit	DENTSPLY SIRONA INC	$0	–	-16,233	–	-0.15%	–
VWO	Exit	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$0	–	-23,200	–	-0.16%	–
WPM	Exit	WHEATON PRECIOUS METALS CORP	$0	–	-53,000	–	-0.16%	–
SBUX	Exit	STARBUCKS CORP	$0	–	-19,269	–	-0.16%	–
PX	Exit	PRAXAIR INC	$0	–	-7,541	–	-0.17%	–
GOLD	Exit	BARRICK GOLD CORP	$0	–	-65,600	–	-0.17%	–
ACGL	Exit	ARCH CAP GROUP LTDord	$0	–	-11,502	–	-0.18%	–
HAL	Exit	HALLIBURTON CO	$0	–	-25,147	–	-0.18%	–
PNC	Exit	PNC FINL SVCS GROUP INC	$0	–	-9,785	–	-0.21%	–
MU	Exit	MICRON TECHNOLOGY INC	$0	–	-34,870	–	-0.22%	–
AMZN	Exit	AMAZON COM INC	$0	–	-1,469	–	-0.22%	–
INDA	Exit	ISHARES TRmsci india etf	$0	–	-46,095	–	-0.24%	–
MCD	Exit	MCDONALDS CORP	$0	–	-10,546	–	-0.26%	–
CMS	Exit	CMS ENERGY CORP	$0	–	-36,230	–	-0.27%	–
TEVA	Exit	TEVA PHARMACEUTICAL INDS LTDsponsored adr	$0	–	-105,149	–	-0.29%	–
AWK	Exit	AMERICAN WTR WKS CO INC NEW	$0	–	-22,835	–	-0.29%	–
MRK	Exit	MERCK & CO INC	$0	–	-29,355	–	-0.30%	–
ARI	Exit	APOLLO COML REAL EST FIN INC	$0	–	-106,000	–	-0.30%	–
BRKA	Exit	BERKSHIRE HATHAWAY INC DELcl a	$0	–	-7	–	-0.30%	–
HE	Exit	HAWAIIAN ELEC INDUSTRIES	$0	–	-60,000	–	-0.32%	–
SO	Exit	SOUTHERN CO	$0	–	-41,792	–	-0.32%	–
MA	Exit	MASTERCARD INCORPORATEDcl a	$0	–	-14,920	–	-0.33%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-30,317	–	-0.34%	–
EWT	Exit	ISHARES INCmsci taiwan etf	$0	–	-61,251	–	-0.35%	–
PM	Exit	PHILIP MORRIS INTL INC	$0	–	-20,033	–	-0.35%	–
FHB	Exit	FIRST HAWAIIAN INC	$0	–	-74,700	–	-0.36%	–
T	Exit	AT&T INC	$0	–	-60,000	–	-0.37%	–
PEP	Exit	PEPSICO INC	$0	–	-21,648	–	-0.38%	–
LYB	Exit	LYONDELLBASELL INDUSTRIES N	$0	–	-25,298	–	-0.40%	–
IPGP	Exit	IPG PHOTONICS CORP	$0	–	-13,553	–	-0.40%	–
PWZ	Exit	POWERSHARES ETF TR IIcali muni etf	$0	–	-99,350	–	-0.41%	–
CSCO	Exit	CISCO SYS INC	$0	–	-78,867	–	-0.42%	–
XLV	Exit	SELECT SECTOR SPDR TRsbi healthcare	$0	–	-32,672	–	-0.42%	–
SPY	Exit	SPDR S&P 500 ETF TRtr unit	$0	–	-10,785	–	-0.43%	–
CMF	Exit	ISHARES TRcalif mun bd etf	$0	–	-22,962	–	-0.43%	–
QQQ	Exit	POWERSHARES QQQ TRUSTunit ser 1	$0	–	-18,895	–	-0.44%	–
BOH	Exit	BANK HAWAII CORP	$0	–	-36,540	–	-0.48%	–
WDC	Exit	WESTERN DIGITAL CORP	$0	–	-35,758	–	-0.49%	–
EZU	Exit	ISHARES INCmsci eurzone etf	$0	–	-72,435	–	-0.50%	–
INTC	Exit	INTEL CORP	$0	–	-83,722	–	-0.50%	–
EFA	Exit	ISHARES TRmsci eafe etf	$0	–	-47,572	–	-0.52%	–
ORCL	Exit	ORACLE CORP	$0	–	-69,422	–	-0.53%	–
EWG	Exit	ISHARES INCmsci germany etf	$0	–	-103,479	–	-0.53%	–
PYPL	Exit	PAYPAL HLDGS INC	$0	–	-53,919	–	-0.55%	–
XLF	Exit	SELECT SECTOR SPDR TRsbi int-finl	$0	–	-141,925	–	-0.58%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-46,997	–	-0.87%	–
C	Exit	CITIGROUP INC	$0	–	-86,909	–	-1.00%	–
IWM	Exit	ISHARES TRrussell 2000 etf	$0	–	-45,046	–	-1.06%	–
EWL	Exit	ISHARES INCmsci sz cap etf	$0	–	-194,633	–	-1.08%	–
BMO	Exit	BANK MONTREAL QUE	$0	–	-108,496	–	-1.30%	–
TD	Exit	TORONTO DOMINION BK ONT	$0	–	-153,051	–	-1.36%	–
FEZ	Exit	SPDR INDEX SHS FDSeuro stoxx 50	$0	–	-226,730	–	-1.48%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-129,819	–	-1.53%	–
CTSH	Exit	COGNIZANT TECHNOLOGY SOLUTIOcl a	$0	–	-133,893	–	-1.54%	–
HD	Exit	HOME DEPOT INC	$0	–	-64,522	–	-1.67%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-11,447	–	-1.76%	–
V	Exit	VISA INC	$0	–	-109,696	–	-1.83%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-137,378	–	-2.08%	–
OIH	Exit	VANECK VECTORS ETF TRoil svcs etf	$0	–	-509,111	–	-2.10%	–
PKW	Exit	POWERSHARES ETF TRUSTdyna buybk ach	$0	–	-248,997	–	-2.19%	–
GLD	Exit	SPDR GOLD TRUST	$0	–	-127,500	–	-2.45%	–
SJNK	Exit	SPDR SER TRbloomberg srt tr	$0	–	-599,393	–	-2.65%	–
AZN	Exit	ASTRAZENECA PLCsponsored adr	$0	–	-266,649	–	-2.80%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-106,082	–	-2.87%	–
CWB	Exit	SPDR SERIES TRUSTblmbrg brc cnvrt	$0	–	-365,884	–	-2.96%	–
EEM	Exit	ISHARES TRmsci emg mkt etf	$0	–	-437,534	–	-3.10%	–
EWA	Exit	ISHARES INCmsci aust etf	$0	–	-893,278	–	-3.17%	–
MCHI	Exit	ISHARES TRmsci china etf	$0	–	-362,226	–	-3.62%	–
BIDU	Exit	BAIDU INCspon adr rep a	$0	–	-96,636	–	-3.79%	–
XLK	Exit	SELECT SECTOR SPDR TRtechnology	$0	–	-431,943	–	-4.04%	–
VGK	Exit	VANGUARD INTL EQUITY INDEX Fftse europe etf	$0	–	-449,540	–	-4.15%	–
DXJ	Exit	WISDOMTREE TRjapn hedge eqt	$0	–	-555,489	–	-4.81%	–
AAPL	Exit	APPLE INC	$0	–	-249,495	–	-6.09%	–
OEF	Exit	ISHARES TRs&p 100 etf	$0	–	-663,932	–	-11.70%	–

Q3 2017

			Value		Shares		↓ Weighting
OEF	Sell	ISHARES TRs&p 100 etf	$73,896,000	+0.7%	663,932	-3.3%	11.70%	-4.1%
AAPL	Buy	APPLE INC	$38,452,000	+8.7%	249,495	+1.6%	6.09%	+3.6%
DXJ	Buy	WISDOMTREE TRjapn hedge eqt	$30,385,000	+13.2%	555,489	+7.6%	4.81%	+7.9%
VGK	Sell	VANGUARD INTL EQUITY INDEX Fftse europe etf	$26,222,000	+4.4%	449,540	-1.3%	4.15%	-0.6%
XLK	Sell	SELECT SECTOR SPDR TRtechnology	$25,528,000	+7.4%	431,943	-0.6%	4.04%	+2.3%
BIDU	Buy	BAIDU INCspon adr rep a	$23,936,000	+383.7%	96,636	+249.3%	3.79%	+360.8%
MCHI	Buy	ISHARES TRmsci china etf	$22,853,000	+19.6%	362,226	+3.7%	3.62%	+13.9%
EWA	Sell	ISHARES INCmsci aust etf	$20,045,000	-1.5%	893,278	-4.9%	3.17%	-6.2%
EEM	Sell	ISHARES TRmsci emg mkt etf	$19,606,000	+7.1%	437,534	-1.1%	3.10%	+2.0%
CWB	Sell	SPDR SERIES TRUSTblmbrg brc cnvrt	$18,686,000	-5.9%	365,884	-8.6%	2.96%	-10.4%
FB	Sell	FACEBOOK INCcl a	$18,126,000	+6.3%	106,082	-6.1%	2.87%	+1.3%
AZN	Sell	ASTRAZENECA PLCsponsored adr	$17,726,000	-0.6%	266,649	-0.3%	2.80%	-5.3%
SJNK	Sell	SPDR SER TRbloomberg srt tr	$16,765,000	-7.8%	599,393	-7.8%	2.65%	-12.2%
GLD	Buy	SPDR GOLD TRUST	$15,501,000	+4.2%	127,500	+1.2%	2.45%	-0.7%
PKW	Sell	POWERSHARES ETF TRUSTdyna buybk ach	$13,844,000	-0.2%	248,997	-3.7%	2.19%	-4.9%
OIH	Sell	VANECK VECTORS ETF TRoil svcs etf	$13,273,000	-2.8%	509,111	-7.5%	2.10%	-7.3%
JPM	Sell	JPMORGAN CHASE & CO	$13,121,000	-0.6%	137,378	-4.9%	2.08%	-5.3%
V	Sell	VISA INC	$11,544,000	+7.8%	109,696	-4.0%	1.83%	+2.6%
GOOGL	Sell	ALPHABET INCcap stk cl a	$11,146,000	-1.2%	11,447	-5.7%	1.76%	-5.9%
HD	Sell	HOME DEPOT INC	$10,553,000	-3.4%	64,522	-9.4%	1.67%	-8.0%
CTSH	Sell	COGNIZANT TECHNOLOGY SOLUTIOcl a	$9,713,000	-0.0%	133,893	-8.5%	1.54%	-4.8%
MSFT	Sell	MICROSOFT CORP	$9,670,000	+4.7%	129,819	-3.1%	1.53%	-0.3%
FEZ	Sell	SPDR INDEX SHS FDSeuro stoxx 50	$9,353,000	+3.7%	226,730	-3.3%	1.48%	-1.3%
TD	Sell	TORONTO DOMINION BK ONT	$8,597,000	+4.8%	153,051	-6.1%	1.36%	-0.1%
BMO	Sell	BANK MONTREAL QUE	$8,192,000	-3.2%	108,496	-6.0%	1.30%	-7.8%
EWL	Buy	ISHARES INCmsci sz cap etf	$6,818,000	+6.7%	194,633	+4.5%	1.08%	+1.7%
IWM	Sell	ISHARES TRrussell 2000 etf	$6,675,000	+3.9%	45,046	-1.2%	1.06%	-1.1%
C	Buy	CITIGROUP INC	$6,322,000	+35.1%	86,909	+24.2%	1.00%	+28.8%
XLF	Buy	SELECT SECTOR SPDR TRsbi int-finl	$3,670,000	+74.8%	141,925	+66.7%	0.58%	+66.5%
PYPL	Sell	PAYPAL HLDGS INC	$3,452,000	+18.0%	53,919	-1.1%	0.55%	+12.3%
EWG	Buy	ISHARES INCmsci germany etf	$3,356,000	+11.6%	103,479	+4.2%	0.53%	+6.2%
ORCL	Buy	ORACLE CORP	$3,357,000	+49.9%	69,422	+55.4%	0.53%	+42.7%
EFA	Buy	ISHARES TRmsci eafe etf	$3,258,000	+6.5%	47,572	+1.4%	0.52%	+1.6%
INTC	Buy	INTEL CORP	$3,188,000	+39.8%	83,722	+23.9%	0.50%	+33.2%
EZU	Sell	ISHARES INCmsci eurzone etf	$3,138,000	+6.1%	72,435	-1.2%	0.50%	+1.2%
WDC	Sell	WESTERN DIGITAL CORP	$3,089,000	-6.2%	35,758	-3.8%	0.49%	-10.6%
BOH	Sell	BANK HAWAII CORP	$3,046,000	-0.6%	36,540	-1.1%	0.48%	-5.3%
CMF	Sell	ISHARES TRcalif mun bd etf	$2,721,000	-3.7%	22,962	-4.4%	0.43%	-8.3%
SPY	Sell	SPDR S&P 500 ETF TRtr unit	$2,710,000	-31.4%	10,785	-34.0%	0.43%	-34.7%
XLV	Sell	SELECT SECTOR SPDR TRsbi healthcare	$2,670,000	-11.8%	32,672	-14.5%	0.42%	-15.9%
CSCO	Sell	CISCO SYS INC	$2,652,000	+3.7%	78,867	-3.5%	0.42%	-1.2%
PWZ	Sell	POWERSHARES ETF TR IIcali muni etf	$2,591,000	-3.2%	99,350	-3.7%	0.41%	-7.9%
LYB	Buy	LYONDELLBASELL INDUSTRIES N	$2,506,000	+36.0%	25,298	+15.8%	0.40%	+29.7%
IPGP	Sell	IPG PHOTONICS CORP	$2,508,000	+25.3%	13,553	-1.7%	0.40%	+19.6%
PEP	Sell	PEPSICO INC	$2,412,000	-8.7%	21,648	-5.4%	0.38%	-13.0%
T	Buy	AT&T INC	$2,350,000	+24.5%	60,000	+20.0%	0.37%	+18.8%
FHB	Sell	FIRST HAWAIIAN INC	$2,263,000	-19.4%	74,700	-18.5%	0.36%	-23.2%
PM	Sell	PHILIP MORRIS INTL INC	$2,224,000	-7.6%	20,033	-2.2%	0.35%	-12.0%
MA	Sell	MASTERCARD INCORPORATEDcl a	$2,107,000	+7.6%	14,920	-7.4%	0.33%	+2.5%
SO	Sell	SOUTHERN CO	$2,054,000	-18.6%	41,792	-20.7%	0.32%	-22.4%
HE	Sell	HAWAIIAN ELEC INDUSTRIES	$2,002,000	-27.3%	60,000	-29.4%	0.32%	-30.6%
ARI	Buy	APOLLO COML REAL EST FIN INC	$1,920,000	+15.0%	106,000	+17.8%	0.30%	+9.7%
MRK	Sell	MERCK & CO INC	$1,880,000	-6.9%	29,355	-6.8%	0.30%	-11.0%
AWK	Sell	AMERICAN WTR WKS CO INC NEW	$1,848,000	+0.2%	22,835	-3.5%	0.29%	-4.9%
TEVA	New	TEVA PHARMACEUTICAL INDS LTDsponsored adr	$1,838,000	–	105,149	–	0.29%	–
MCD	Sell	MCDONALDS CORP	$1,652,000	-2.4%	10,546	-4.6%	0.26%	-7.1%
GOLD	New	BARRICK GOLD CORP	$1,056,000	–	65,600	–	0.17%	–
WPM	New	WHEATON PRECIOUS METALS CORP	$1,009,000	–	53,000	–	0.16%	–
XRAY	Sell	DENTSPLY SIRONA INC	$971,000	-62.8%	16,233	-59.6%	0.15%	-64.4%
XLP	Sell	SELECT SECTOR SPDR TRsbi cons stpls	$909,000	-52.5%	16,844	-51.7%	0.14%	-54.7%
MOAT	Buy	VANECK VECTORS ETF TRmorningstar wide	$862,000	+5.4%	21,367	+3.3%	0.14%	0.0%
PG	Sell	PROCTER AND GAMBLE CO	$796,000	-4.8%	8,745	-8.9%	0.13%	-9.4%
BHP	Buy	BHP BILLITON LTDsponsored adr	$765,000	+211.0%	37,800	+173.9%	0.12%	+195.1%
GS	Sell	GOLDMAN SACHS GROUP INC	$723,000	-4.1%	3,050	-10.3%	0.11%	-8.8%
ALB	Sell	ALBEMARLE CORP	$648,000	+25.8%	4,751	-2.6%	0.10%	+19.8%
PCG	Sell	PG&E CORP	$534,000	-4.1%	7,838	-6.6%	0.08%	-8.6%
MMM	Sell	3M CO	$480,000	-5.3%	2,289	-6.0%	0.08%	-9.5%
SNY	New	SANOFIsponsored adr	$465,000	–	4,680	–	0.07%	–
LDOS	Buy	LEIDOS HLDGS INC	$447,000	+31.9%	7,550	+15.3%	0.07%	+26.8%
EWJ	New	ISHARES INCmsci jpn etf new	$359,000	–	6,449	–	0.06%	–
UTX	Sell	UNITED TECHNOLOGIES CORP	$296,000	-22.9%	2,546	-19.1%	0.05%	-26.6%
IPKW	Buy	POWERSHARES ETF TR IIpwrs int buybk	$297,000	+12.5%	8,550	+3.6%	0.05%	+6.8%
NJV	Buy	NUVEEN NEW JERSEY MUN VALUE	$299,000	+1.7%	20,063	+0.3%	0.05%	-4.1%
SRCL	Sell	STERICYCLE INC	$284,000	-81.0%	3,969	-79.8%	0.04%	-81.9%
XLNX	New	XILINX INC	$207,000	–	2,922	–	0.03%	–
TTM	Buy	TATA MTRS LTDsponsored adr	$77,000	-6.1%	12,515	+2.0%	0.01%	-14.3%
NWL	Exit	NEWELL BRANDS INC	$0	–	-3,836	–	-0.03%	–
VOO	Exit	VANGUARD INDEX FDS	$0	–	-1,200	–	-0.04%	–
TAP	Exit	MOLSON COORS BREWING COcl b	$0	–	-9,360	–	-0.13%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-12,800	–	-0.17%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-68,074	–	-0.31%	–
VXX	Exit	BARCLAYS BK PLCipath s&p500 vix	$0	–	-657,766	–	-1.39%	–

Q2 2017

			Value		Shares		↓ Weighting
OEF	New	ISHARES TRs&p 100 etf	$73,395,000	–	686,574	–	12.19%	–
AAPL	New	APPLE INC	$35,377,000	–	245,638	–	5.88%	–
DXJ	New	WISDOMTREE TRjapn hedge eqt	$26,833,000	–	516,020	–	4.46%	–
VGK	New	VANGUARD INTL EQUITY INDEX Fftse europe etf	$25,123,000	–	455,621	–	4.17%	–
XLK	New	SELECT SECTOR SPDR TRtechnology	$23,773,000	–	434,456	–	3.95%	–
EWA	New	ISHARESmsci aust etf	$20,359,000	–	939,048	–	3.38%	–
CWB	New	SPDR SERIES TRUSTblmbrg brc cnvrt	$19,857,000	–	400,172	–	3.30%	–
MCHI	New	ISHARES TRmsci china etf	$19,110,000	–	349,432	–	3.18%	–
EEM	New	ISHARES TRmsci emg mkt etf	$18,313,000	–	442,440	–	3.04%	–
SJNK	New	SPDR SER TRbloomberg srt tr	$18,182,000	–	650,066	–	3.02%	–
AZN	New	ASTRAZENECA PLCsponsored adr	$17,833,000	–	267,356	–	2.96%	–
FB	New	FACEBOOK INCcl a	$17,055,000	–	112,963	–	2.83%	–
GLD	New	SPDR GOLD TRUST	$14,876,000	–	126,050	–	2.47%	–
PKW	New	POWERSHARES ETF TRUSTdyna buybk ach	$13,872,000	–	258,517	–	2.30%	–
OIH	New	VANECK VECTORS ETF TRoil svcs etf	$13,649,000	–	550,586	–	2.27%	–
JPM	New	JPMORGAN CHASE & CO	$13,204,000	–	144,467	–	2.19%	–
GOOGL	New	ALPHABET INCcap stk cl a	$11,281,000	–	12,134	–	1.87%	–
HD	New	HOME DEPOT INC	$10,930,000	–	71,252	–	1.82%	–
V	New	VISA INC	$10,712,000	–	114,229	–	1.78%	–
CTSH	New	COGNIZANT TECHNOLOGY SOLUTIOcl a	$9,714,000	–	146,292	–	1.61%	–
MSFT	New	MICROSOFT CORP	$9,232,000	–	133,929	–	1.53%	–
FEZ	New	SPDR INDEX SHS FDSeuro stoxx 50	$9,021,000	–	234,505	–	1.50%	–
BMO	New	BANK MONTREAL QUE	$8,462,000	–	115,417	–	1.41%	–
VXX	New	BARCLAYS BK PLCipath s&p500 vix	$8,393,000	–	657,766	–	1.39%	–
TD	New	TORONTO DOMINION BK ONT	$8,205,000	–	163,053	–	1.36%	–
IWM	New	ISHARES TRrussell 2000 etf	$6,426,000	–	45,601	–	1.07%	–
EWL	New	ISHARESmsci sz cap etf	$6,388,000	–	186,195	–	1.06%	–
BIDU	New	BAIDU INCspon adr rep a	$4,949,000	–	27,668	–	0.82%	–
CVX	New	CHEVRON CORP NEW	$4,903,000	–	46,997	–	0.82%	–
C	New	CITIGROUP INC	$4,680,000	–	69,979	–	0.78%	–
SPY	New	SPDR S&P 500 ETF TRtr unit	$3,952,000	–	16,345	–	0.66%	–
WDC	New	WESTERN DIGITAL CORP	$3,293,000	–	37,166	–	0.55%	–
BOH	New	BANK HAWAII CORP	$3,065,000	–	36,940	–	0.51%	–
EFA	New	ISHARES TRmsci eafe etf	$3,059,000	–	46,913	–	0.51%	–
XLV	New	SELECT SECTOR SPDR TRsbi healthcare	$3,028,000	–	38,207	–	0.50%	–
EWG	New	ISHARESmsci germany etf	$3,007,000	–	99,343	–	0.50%	–
EZU	New	ISHARESmsci eurzone etf	$2,957,000	–	73,335	–	0.49%	–
PYPL	New	PAYPAL HLDGS INC	$2,926,000	–	54,519	–	0.49%	–
CMF	New	ISHARES TRcalif mun bd etf	$2,827,000	–	24,022	–	0.47%	–
FHB	New	FIRST HAWAIIAN INC	$2,808,000	–	91,700	–	0.47%	–
HE	New	HAWAIIAN ELEC INDUSTRIES	$2,752,000	–	85,000	–	0.46%	–
PWZ	New	POWERSHARES ETF TR IIcali muni etf	$2,678,000	–	103,125	–	0.44%	–
PEP	New	PEPSICO INC	$2,642,000	–	22,878	–	0.44%	–
XRAY	New	DENTSPLY SIRONA INC	$2,607,000	–	40,200	–	0.43%	–
QQQ	New	POWERSHARES QQQ TRUSTunit ser 1	$2,601,000	–	18,895	–	0.43%	–
CSCO	New	CISCO SYS INC	$2,558,000	–	81,726	–	0.42%	–
SO	New	SOUTHERN CO	$2,523,000	–	52,692	–	0.42%	–
PM	New	PHILIP MORRIS INTL INC	$2,406,000	–	20,483	–	0.40%	–
INTC	New	INTEL CORP	$2,280,000	–	67,584	–	0.38%	–
ORCL	New	ORACLE CORP	$2,240,000	–	44,667	–	0.37%	–
EWT	New	ISHARES INCmsci taiwan etf	$2,190,000	–	61,251	–	0.36%	–
XLF	New	SELECT SECTOR SPDR TRsbi int-finl	$2,100,000	–	85,125	–	0.35%	–
MRK	New	MERCK & CO INC	$2,019,000	–	31,505	–	0.34%	–
IPGP	New	IPG PHOTONICS CORP	$2,001,000	–	13,793	–	0.33%	–
SLB	New	SCHLUMBERGER LTD	$1,996,000	–	30,317	–	0.33%	–
MA	New	MASTERCARD INCORPORATEDcl a	$1,958,000	–	16,120	–	0.32%	–
XLP	New	SELECT SECTOR SPDR TRsbi cons stpls	$1,914,000	–	34,844	–	0.32%	–
T	New	AT&T INC	$1,887,000	–	50,000	–	0.31%	–
AWK	New	AMERICAN WTR WKS CO INC NEW	$1,845,000	–	23,670	–	0.31%	–
LYB	New	LYONDELLBASELL INDUSTRIES N	$1,843,000	–	21,837	–	0.31%	–
GE	New	GENERAL ELECTRIC CO	$1,839,000	–	68,074	–	0.31%	–
BRKA	New	BERKSHIRE HATHAWAY INC DELcl a	$1,783,000	–	7	–	0.30%	–
MCD	New	MCDONALDS CORP	$1,692,000	–	11,050	–	0.28%	–
CMS	New	CMS ENERGY CORP	$1,676,000	–	36,230	–	0.28%	–
ARI	New	APOLLO COML REAL EST FIN INC	$1,670,000	–	90,000	–	0.28%	–
SRCL	New	STERICYCLE INC	$1,497,000	–	19,619	–	0.25%	–
INDA	New	ISHARES TRmsci india etf	$1,480,000	–	46,095	–	0.25%	–
AMZN	New	AMAZON COM INC	$1,422,000	–	1,469	–	0.24%	–
PNC	New	PNC FINL SVCS GROUP INC	$1,222,000	–	9,785	–	0.20%	–
SBUX	New	STARBUCKS CORP	$1,124,000	–	19,269	–	0.19%	–
HAL	New	HALLIBURTON CO	$1,074,000	–	25,147	–	0.18%	–
ACGL	New	ARCH CAP GROUP LTDord	$1,073,000	–	11,502	–	0.18%	–
MU	New	MICRON TECHNOLOGY INC	$1,041,000	–	34,870	–	0.17%	–
XOM	New	EXXON MOBIL CORP	$1,033,000	–	12,800	–	0.17%	–
PX	New	PRAXAIR INC	$1,000,000	–	7,541	–	0.17%	–
VWO	New	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$947,000	–	23,200	–	0.16%	–
PG	New	PROCTER AND GAMBLE CO	$836,000	–	9,595	–	0.14%	–
MOAT	New	VANECK VECTORS ETF TRmorningstar wide	$818,000	–	20,686	–	0.14%	–
TAP	New	MOLSON COORS BREWING COcl b	$808,000	–	9,360	–	0.13%	–
XLE	New	SELECT SECTOR SPDR TRenergy	$751,000	–	11,567	–	0.12%	–
GS	New	GOLDMAN SACHS GROUP INC	$754,000	–	3,400	–	0.12%	–
CAT	New	CATERPILLAR INC DEL	$752,000	–	7,000	–	0.12%	–
IVE	New	ISHARES TRs&p 500 val etf	$577,000	–	5,500	–	0.10%	–
PCG	New	PG&E CORP	$557,000	–	8,388	–	0.09%	–
ALB	New	ALBEMARLE CORP	$515,000	–	4,878	–	0.09%	–
MMM	New	3M CO	$507,000	–	2,435	–	0.08%	–
CHKP	New	CHECK POINT SOFTWARE TECH LTord	$471,000	–	4,322	–	0.08%	–
JNJ	New	JOHNSON & JOHNSON	$472,000	–	3,566	–	0.08%	–
AGG	New	ISHARES TRcore us aggbd et	$449,000	–	4,100	–	0.08%	–
THD	New	ISHARESmsci thi cap etf	$449,000	–	5,760	–	0.08%	–
EIDO	New	ISHARES TRmsci indonia etf	$433,000	–	15,901	–	0.07%	–
EWM	New	ISHARES INCmsci mly etf new	$407,000	–	12,825	–	0.07%	–
INCO	New	COLUMBIA ETF TR IIindia consmr etf	$400,000	–	9,589	–	0.07%	–
UTX	New	UNITED TECHNOLOGIES CORP	$384,000	–	3,146	–	0.06%	–
RSX	New	VANECK VECTORS ETF TRrussia etf	$369,000	–	19,250	–	0.06%	–
AME	New	AMETEK INC NEW	$348,000	–	5,750	–	0.06%	–
HON	New	HONEYWELL INTL INC	$349,000	–	2,620	–	0.06%	–
BLK	New	BLACKROCK INC	$345,000	–	817	–	0.06%	–
AMGN	New	AMGEN INC	$335,000	–	1,944	–	0.06%	–
EOG	New	EOG RES INC	$336,000	–	3,707	–	0.06%	–
LDOS	New	LEIDOS HLDGS INC	$339,000	–	6,550	–	0.06%	–
VNM	New	VANECK VECTORS ETF TRvietnam etf	$338,000	–	22,614	–	0.06%	–
PZA	New	POWERSHARES ETF TR IIinsur natl mun	$331,000	–	13,000	–	0.06%	–
GOOG	New	ALPHABET INCcap stk cl c	$323,000	–	355	–	0.05%	–
NKE	New	NIKE INCcl b	$325,000	–	5,510	–	0.05%	–
DHR	New	DANAHER CORP DEL	$321,000	–	3,800	–	0.05%	–
EMR	New	EMERSON ELEC CO	$316,000	–	5,300	–	0.05%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$308,000	–	1,764	–	0.05%	–
TFI	New	SPDR SER TRnuveen brc munic	$304,000	–	6,250	–	0.05%	–
EPHE	New	ISHARES TRmsci philips etf	$300,000	–	8,379	–	0.05%	–
TEL	New	TE CONNECTIVITY LTD	$293,000	–	3,725	–	0.05%	–
NJV	New	NUVEEN NEW JERSEY MUN VALUE	$294,000	–	20,000	–	0.05%	–
FIS	New	FIDELITY NATL INFORMATION SV	$286,000	–	3,346	–	0.05%	–
PFE	New	PFIZER INC	$279,000	–	8,293	–	0.05%	–
CORP	New	PIMCO ETF TRinv grd crp bd	$269,000	–	2,560	–	0.04%	–
ABBV	New	ABBVIE INC	$273,000	–	3,766	–	0.04%	–
VOO	New	VANGUARD INDEX FDS	$266,000	–	1,200	–	0.04%	–
IPKW	New	POWERSHARES ETF TR IIpwrs int buybk	$264,000	–	8,250	–	0.04%	–
MGK	New	VANGUARD WORLD FDmega grwth ind	$250,000	–	2,500	–	0.04%	–
LH	New	LABORATORY CORP AMER HLDGS	$250,000	–	1,620	–	0.04%	–
BWA	New	BORGWARNER INC	$250,000	–	5,900	–	0.04%	–
HYG	New	ISHARES TRiboxx hi yd etf	$247,000	–	2,800	–	0.04%	–
BHP	New	BHP BILLITON LTDsponsored adr	$246,000	–	13,800	–	0.04%	–
IHY	New	VANECK VECTORS ETF TRintl high yield	$226,000	–	9,000	–	0.04%	–
IYH	New	ISHARES TRus hlthcare etf	$221,000	–	1,330	–	0.04%	–
NWL	New	NEWELL BRANDS INC	$206,000	–	3,836	–	0.03%	–
TSM	New	TAIWAN SEMICONDUCTOR MFG LTDsponsored adr	$183,000	–	26,682	–	0.03%	–
HSBC	New	HSBC HLDGS PLCspon adr new	$174,000	–	18,800	–	0.03%	–
BP	New	BP PLCsponsored adr	$128,000	–	22,300	–	0.02%	–
TTM	New	TATA MTRS LTDsponsored adr	$82,000	–	12,265	–	0.01%	–

Q4 2016

			Value		Shares		↓ Weighting
XLRE	Exit	SELECT SECTOR SPDR TRrl est sel sec	$0	–	-6,168	–	-0.05%	–
NKE	Exit	NIKE INCcl b	$0	–	-3,900	–	-0.05%	–
GS	Exit	GOLDMAN SACHS GROUP INC	$0	–	-1,320	–	-0.05%	–
MGK	Exit	VANGUARD WORLD FDmega grwth ind	$0	–	-2,500	–	-0.05%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-286	–	-0.05%	–
EWA	Exit	ISHARESmsci aust etf	$0	–	-11,700	–	-0.06%	–
MMM	Exit	3M CO	$0	–	-1,395	–	-0.06%	–
PCG	Exit	PG&E CORP	$0	–	-4,078	–	-0.06%	–
EOG	Exit	EOG RES INC	$0	–	-2,757	–	-0.06%	–
CORP	Exit	PIMCO ETF TRinv grd crp bd	$0	–	-2,560	–	-0.06%	–
TLT	Exit	ISHARES TR20 yr tr bd etf	$0	–	-2,000	–	-0.07%	–
PFE	Exit	PFIZER INC	$0	–	-8,293	–	-0.07%	–
UTX	Exit	UNITED TECHNOLOGIES CORP	$0	–	-3,060	–	-0.07%	–
TFI	Exit	SPDR SER TRnuvn brcly muni	$0	–	-6,250	–	-0.08%	–
AMGN	Exit	AMGEN INC	$0	–	-1,944	–	-0.08%	–
NJV	Exit	NUVEEN NEW JERSEY MUN VALUE	$0	–	-20,000	–	-0.08%	–
PZA	Exit	POWERSHARES ETF TR IIinsur natl mun	$0	–	-13,000	–	-0.08%	–
DIA	Exit	SPDR DOW JONES INDL AVRG ETFut ser 1	$0	–	-2,300	–	-0.10%	–
IVE	Exit	ISHARES TRs&p 500 val etf	$0	–	-5,500	–	-0.12%	–
MU	Exit	MICRON TECHNOLOGY INC	$0	–	-32,870	–	-0.14%	–
RL	Exit	RALPH LAUREN CORPcl a	$0	–	-5,831	–	-0.14%	–
SO	Exit	SOUTHERN CO	$0	–	-11,792	–	-0.14%	–
T	Exit	AT&T INC	$0	–	-15,000	–	-0.14%	–
NWL	Exit	NEWELL BRANDS INC	$0	–	-11,836	–	-0.15%	–
AFL	Exit	AFLAC INC	$0	–	-8,924	–	-0.15%	–
PNC	Exit	PNC FINL SVCS GROUP INC	$0	–	-7,743	–	-0.17%	–
VOO	Exit	VANGUARD INDEX FDS	$0	–	-3,500	–	-0.17%	–
CMS	Exit	CMS ENERGY CORP	$0	–	-16,660	–	-0.17%	–
EFA	Exit	ISHARES TRmsci eafe etf	$0	–	-12,900	–	-0.18%	–
XLF	Exit	SELECT SECTOR SPDR TRsbi int-finl	$0	–	-44,335	–	-0.20%	–
MOAT	Exit	VANECK VECTORS ETF TRmorningstar wide	$0	–	-25,947	–	-0.21%	–
AMZN	Exit	AMAZON COM INC	$0	–	-1,122	–	-0.22%	–
WDC	Exit	WESTERN DIGITAL CORP	$0	–	-16,503	–	-0.23%	–
IPGP	Exit	IPG PHOTONICS CORP	$0	–	-11,763	–	-0.23%	–
MCD	Exit	MCDONALDS CORP	$0	–	-8,470	–	-0.23%	–
AWK	Exit	AMERICAN WTR WKS CO INC NEW	$0	–	-13,740	–	-0.24%	–
PG	Exit	PROCTER AND GAMBLE CO	$0	–	-11,515	–	-0.25%	–
CSCO	Exit	CISCO SYS INC	$0	–	-33,781	–	-0.26%	–
PM	Exit	PHILIP MORRIS INTL INC	$0	–	-11,052	–	-0.26%	–
ABT	Exit	ABBOTT LABS	$0	–	-25,471	–	-0.26%	–
SLV	Exit	ISHARES SILVER TRUSTishares	$0	–	-60,000	–	-0.26%	–
PYPL	Exit	PAYPAL HLDGS INC	$0	–	-27,279	–	-0.27%	–
LYB	Exit	LYONDELLBASELL INDUSTRIES N	$0	–	-14,020	–	-0.27%	–
SBUX	Exit	STARBUCKS CORP	$0	–	-21,185	–	-0.27%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-40,494	–	-0.29%	–
ANF	Exit	ABERCROMBIE & FITCH COcl a	$0	–	-75,647	–	-0.29%	–
PX	Exit	PRAXAIR INC	$0	–	-10,010	–	-0.29%	–
TAP	Exit	MOLSON COORS BREWING COcl b	$0	–	-12,150	–	-0.32%	–
MA	Exit	MASTERCARD INCORPORATEDcl a	$0	–	-13,900	–	-0.34%	–
HE	Exit	HAWAIIAN ELEC INDUSTRIES	$0	–	-50,000	–	-0.36%	–
FHB	Exit	FIRST HAWAIIAN INC	$0	–	-57,700	–	-0.37%	–
ORCL	Exit	ORACLE CORP	$0	–	-40,926	–	-0.38%	–
ABBV	Exit	ABBVIE INC	$0	–	-25,707	–	-0.39%	–
CMG	Exit	CHIPOTLE MEXICAN GRILL INC	$0	–	-3,914	–	-0.40%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-16,584	–	-0.41%	–
XRAY	Exit	DENTSPLY SIRONA INC	$0	–	-29,600	–	-0.42%	–
INTC	Exit	INTEL CORP	$0	–	-47,204	–	-0.42%	–
XLP	Exit	SELECT SECTOR SPDR TRsbi cons stpls	$0	–	-34,660	–	-0.44%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-28,237	–	-0.45%	–
BOH	Exit	BANK HAWAII CORP	$0	–	-28,180	–	-0.49%	–
IPKW	Exit	POWERSHARES ETF TR IIpwrs int buybk	$0	–	-71,750	–	-0.49%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-26,521	–	-0.50%	–
QQQ	Exit	POWERSHARES QQQ TRUSTunit ser 1	$0	–	-18,495	–	-0.52%	–
IWM	Exit	ISHARES TRrussell 2000 etf	$0	–	-17,893	–	-0.53%	–
PEP	Exit	PEPSICO INC	$0	–	-20,455	–	-0.53%	–
EWG	Exit	ISHARESmsci germany etf	$0	–	-92,580	–	-0.58%	–
PWZ	Exit	POWERSHARES ETF TR IIcali muni etf	$0	–	-92,225	–	-0.58%	–
EZU	Exit	ISHARESmsci eurzone etf	$0	–	-72,170	–	-0.59%	–
MRK	Exit	MERCK & CO INC	$0	–	-40,891	–	-0.61%	–
CMF	Exit	ISHARES TRcalif mun bd etf	$0	–	-22,822	–	-0.66%	–
XLV	Exit	SELECT SECTOR SPDR TRsbi healthcare	$0	–	-38,985	–	-0.67%	–
SPY	Exit	SPDR S&P 500 ETF TRtr unit	$0	–	-13,345	–	-0.69%	–
BRKA	Exit	BERKSHIRE HATHAWAY INC DELcl a	$0	–	-14	–	-0.72%	–
EWL	Exit	ISHARESmsci sz cap etf	$0	–	-174,014	–	-1.27%	–
VGK	Exit	VANGUARD INTL EQUITY INDEX Fftse europe etf	$0	–	-123,317	–	-1.43%	–
CF	Exit	CF INDS HLDGS INC	$0	–	-249,686	–	-1.45%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-119,127	–	-1.64%	–
FEZ	Exit	SPDR INDEX SHS FDSeuro stoxx 50	$0	–	-254,735	–	-1.99%	–
V	Exit	VISA INC	$0	–	-102,945	–	-2.03%	–
LLY	Exit	LILLY ELI & CO	$0	–	-109,864	–	-2.10%	–
AZN	Exit	ASTRAZENECA PLCsponsored adr	$0	–	-287,577	–	-2.25%	–
MUB	Exit	ISHARES TRnational mun etf	$0	–	-89,400	–	-2.40%	–
CTSH	Exit	COGNIZANT TECHNOLOGY SOLUTIOcl a	$0	–	-220,271	–	-2.50%	–
HD	Exit	HOME DEPOT INC	$0	–	-84,309	–	-2.59%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-15,743	–	-3.02%	–
PKW	Exit	POWERSHARES ETF TRUSTdyna buybk ach	$0	–	-276,412	–	-3.13%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-107,063	–	-3.27%	–
GLD	Exit	SPDR GOLD TRUST	$0	–	-120,535	–	-3.61%	–
EEM	Exit	ISHARES TRmsci emg mkt etf	$0	–	-476,435	–	-4.25%	–
CWB	Exit	SPDR SERIES TRUSTbrc cnv secs etf	$0	–	-389,989	–	-4.31%	–
XLK	Exit	SELECT SECTOR SPDR TRtechnology	$0	–	-425,383	–	-4.85%	–
MCHI	Exit	ISHARES TRchina etf	$0	–	-421,840	–	-4.88%	–
DXJ	Exit	WISDOMTREE TRjapn hedge eqt	$0	–	-536,299	–	-5.49%	–
AAPL	Exit	APPLE INC	$0	–	-267,380	–	-7.21%	–
OEF	Exit	ISHARES TRs&p 100 etf	$0	–	-617,317	–	-14.12%	–

Q3 2016

			Value		Shares		↓ Weighting
OEF	Sell	ISHARES TRs&p 100 etf	$59,219,000	+1.4%	617,317	-1.8%	14.12%	+3.7%
AAPL	Sell	APPLE INC	$30,227,000	+16.3%	267,380	-1.6%	7.21%	+18.9%
DXJ	New	WISDOMTREE TRjapn hedge eqt	$23,013,000	–	536,299	–	5.49%	–
MCHI	Buy	ISHARES TRchina etf	$20,459,000	+56.4%	421,840	+36.7%	4.88%	+59.8%
XLK	Buy	SELECT SECTOR SPDR TRtechnology	$20,325,000	+13.1%	425,383	+2.7%	4.85%	+15.6%
CWB	Sell	SPDR SERIES TRUSTbrc cnv secs etf	$18,080,000	-1.4%	389,989	-6.7%	4.31%	+0.8%
EEM	Buy	ISHARES TRmsci emg mkt etf	$17,842,000	+9.7%	476,435	+0.7%	4.25%	+12.2%
GLD	Buy	SPDR GOLD TRUST	$15,144,000	+0.3%	120,535	+1.0%	3.61%	+2.5%
FB	Buy	FACEBOOK INCcl a	$13,733,000	+20.5%	107,063	+7.3%	3.27%	+23.1%
PKW	Sell	POWERSHARES ETF TRUSTdyna buybk ach	$13,113,000	+4.5%	276,412	-0.4%	3.13%	+6.8%
GOOGL	Sell	ALPHABET INCcap stk cl a	$12,658,000	+12.1%	15,743	-1.9%	3.02%	+14.6%
HD	Sell	HOME DEPOT INC	$10,849,000	-0.8%	84,309	-1.6%	2.59%	+1.4%
CTSH	Sell	COGNIZANT TECHNOLOGY SOLUTIOcl a	$10,509,000	-20.5%	220,271	-4.6%	2.50%	-18.7%
AZN	Buy	ASTRAZENECA PLCsponsored adr	$9,450,000	+11.2%	287,577	+2.2%	2.25%	+13.7%
LLY	New	LILLY ELI & CO	$8,818,000	–	109,864	–	2.10%	–
V	Buy	VISA INC	$8,514,000	+22.8%	102,945	+10.1%	2.03%	+25.5%
FEZ	Sell	SPDR INDEX SHS FDSeuro stoxx 50	$8,345,000	+0.9%	254,735	-4.0%	1.99%	+3.1%
MSFT	Buy	MICROSOFT CORP	$6,862,000	+44.9%	119,127	+28.7%	1.64%	+48.2%
CF	Sell	CF INDS HLDGS INC	$6,080,000	-4.7%	249,686	-5.7%	1.45%	-2.7%
VGK	Buy	VANGUARD INTL EQUITY INDEX Fftse europe etf	$6,009,000	+8.3%	123,317	+3.7%	1.43%	+10.7%
EWL	Buy	ISHARESmsci sz cap etf	$5,316,000	+13.2%	174,014	+9.8%	1.27%	+15.6%
SPY	Sell	SPDR S&P 500 ETF TRtr unit	$2,887,000	-21.0%	13,345	-23.5%	0.69%	-19.2%
XLV	Buy	SELECT SECTOR SPDR TRsbi healthcare	$2,811,000	+89.0%	38,985	+88.0%	0.67%	+93.1%
CMF	Sell	ISHARES TRcalif mun bd etf	$2,754,000	-25.1%	22,822	-24.2%	0.66%	-23.3%
MRK	Buy	MERCK & CO INC	$2,552,000	+9.8%	40,891	+1.3%	0.61%	+12.2%
EZU	Sell	ISHARESmsci eurzone etf	$2,489,000	+6.6%	72,170	-0.2%	0.59%	+8.8%
PWZ	New	POWERSHARES ETF TR IIcali muni etf	$2,452,000	–	92,225	–	0.58%	–
EWG	Buy	ISHARESmsci germany etf	$2,432,000	+14.5%	92,580	+4.8%	0.58%	+17.2%
IWM	Buy	ISHARES TRrussell 2000 etf	$2,222,000	+24.8%	17,893	+15.5%	0.53%	+27.7%
PEP	Sell	PEPSICO INC	$2,225,000	-11.2%	20,455	-13.5%	0.53%	-9.2%
SLB	Buy	SCHLUMBERGER LTD	$2,086,000	+52.5%	26,521	+53.3%	0.50%	+55.8%
BOH	Buy	BANK HAWAII CORP	$2,046,000	+6.8%	28,180	+1.3%	0.49%	+9.2%
JPM	Sell	JPMORGAN CHASE & CO	$1,880,000	-7.3%	28,237	-13.5%	0.45%	-5.3%
INTC	Buy	INTEL CORP	$1,782,000	+16.6%	47,204	+1.4%	0.42%	+19.4%
XRAY	Buy	DENTSPLY SIRONA INC	$1,759,000	+0.4%	29,600	+4.8%	0.42%	+2.4%
CVX	Sell	CHEVRON CORP NEW	$1,707,000	-13.3%	16,584	-11.7%	0.41%	-11.3%
CMG	Buy	CHIPOTLE MEXICAN GRILL INC	$1,658,000	+10.5%	3,914	+5.1%	0.40%	+12.9%
ABBV	Buy	ABBVIE INC	$1,621,000	+2.7%	25,707	+0.8%	0.39%	+4.9%
ORCL	Buy	ORACLE CORP	$1,608,000	-2.8%	40,926	+1.2%	0.38%	-0.8%
FHB	New	FIRST HAWAIIAN INC	$1,550,000	–	57,700	–	0.37%	–
HE	Buy	HAWAIIAN ELEC INDUSTRIES	$1,493,000	+13.8%	50,000	+25.0%	0.36%	+16.3%
MA	Sell	MASTERCARD INCORPORATEDcl a	$1,415,000	+13.6%	13,900	-1.8%	0.34%	+15.8%
TAP	Buy	MOLSON COORS BREWING COcl b	$1,334,000	+10.3%	12,150	+1.7%	0.32%	+12.8%
PX	Sell	PRAXAIR INC	$1,210,000	-6.8%	10,010	-13.3%	0.29%	-5.0%
ANF	New	ABERCROMBIE & FITCH COcl a	$1,202,000	–	75,647	–	0.29%	–
GE	Sell	GENERAL ELECTRIC CO	$1,199,000	-7.4%	40,494	-1.6%	0.29%	-5.3%
LYB	Buy	LYONDELLBASELL INDUSTRIES N	$1,131,000	+34.5%	14,020	+24.1%	0.27%	+37.8%
PYPL	Buy	PAYPAL HLDGS INC	$1,118,000	+14.3%	27,279	+1.8%	0.27%	+17.1%
SLV	New	ISHARES SILVER TRUSTishares	$1,092,000	–	60,000	–	0.26%	–
ABT	Buy	ABBOTT LABS	$1,077,000	+9.5%	25,471	+1.8%	0.26%	+11.7%
PM	Buy	PHILIP MORRIS INTL INC	$1,074,000	-1.9%	11,052	+2.7%	0.26%	+0.4%
CSCO	Sell	CISCO SYS INC	$1,072,000	-45.3%	33,781	-50.6%	0.26%	-44.0%
PG	Buy	PROCTER AND GAMBLE CO	$1,033,000	+8.1%	11,515	+2.0%	0.25%	+10.3%
AWK	Buy	AMERICAN WTR WKS CO INC NEW	$1,028,000	+10.1%	13,740	+24.3%	0.24%	+12.4%
MCD	Sell	MCDONALDS CORP	$977,000	-90.2%	8,470	-89.8%	0.23%	-90.0%
IPGP	Buy	IPG PHOTONICS CORP	$969,000	+4.4%	11,763	+1.4%	0.23%	+6.9%
WDC	Buy	WESTERN DIGITAL CORP	$965,000	+30.9%	16,503	+5.9%	0.23%	+33.7%
AMZN	Buy	AMAZON COM INC	$939,000	+17.2%	1,122	+0.2%	0.22%	+19.8%
MOAT	Sell	VANECK VECTORS ETF TRmorningstar wide	$884,000	-2.6%	25,947	-7.1%	0.21%	-0.5%
EFA	Buy	ISHARES TRmsci eafe etf	$763,000	+7.6%	12,900	+1.6%	0.18%	+10.3%
CMS	Buy	CMS ENERGY CORP	$700,000	-4.6%	16,660	+4.1%	0.17%	-2.3%
VOO	Buy	VANGUARD INDEX FDS	$695,000	+10.3%	3,500	+6.9%	0.17%	+12.9%
AFL	Buy	AFLAC INC	$641,000	+2.1%	8,924	+2.5%	0.15%	+4.8%
NWL	Sell	NEWELL BRANDS INC	$623,000	-32.1%	11,836	-37.3%	0.15%	-30.4%
RL	Sell	RALPH LAUREN CORPcl a	$590,000	-46.5%	5,831	-52.6%	0.14%	-45.1%
NJV	New	NUVEEN NEW JERSEY MUN VALUE	$329,000	–	20,000	–	0.08%	–
AMGN	Sell	AMGEN INC	$324,000	-64.2%	1,944	-67.3%	0.08%	-63.5%
UTX	New	UNITED TECHNOLOGIES CORP	$311,000	–	3,060	–	0.07%	–
PFE	Sell	PFIZER INC	$281,000	-31.3%	8,293	-28.7%	0.07%	-29.5%
TLT	New	ISHARES TR20 yr tr bd etf	$275,000	–	2,000	–	0.07%	–
EOG	New	EOG RES INC	$267,000	–	2,757	–	0.06%	–
MMM	Sell	3M CO	$246,000	-57.7%	1,395	-57.9%	0.06%	-56.6%
PCG	Buy	PG&E CORP	$249,000	+8.3%	4,078	+13.4%	0.06%	+9.3%
EWA	Sell	ISHARESmsci aust etf	$245,000	+1.7%	11,700	-5.6%	0.06%	+3.6%
GOOG	New	ALPHABET INCcap stk cl c	$222,000	–	286	–	0.05%	–
GS	Sell	GOLDMAN SACHS GROUP INC	$213,000	-76.9%	1,320	-78.7%	0.05%	-76.3%
NKE	New	NIKE INCcl b	$205,000	–	3,900	–	0.05%	–
XLRE	New	SELECT SECTOR SPDR TRrl est sel sec	$202,000	–	6,168	–	0.05%	–
KEGXQ	Exit	KEY ENERGY SVCS INC	$0	–	-120,000	–	-0.01%	–
IYF	Exit	ISHARES TRu.s. finls etf	$0	–	-2,390	–	-0.05%	–
BABA	Exit	ALIBABA GROUP HLDG LTDsponsored ads	$0	–	-2,639	–	-0.05%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-1,721	–	-0.05%	–
TJX	Exit	TJX COS INC NEW	$0	–	-3,000	–	-0.05%	–
DHR	Exit	DANAHER CORP DEL	$0	–	-2,390	–	-0.06%	–
ADM	Exit	ARCHER DANIELS MIDLAND CO	$0	–	-6,147	–	-0.06%	–
AXP	Exit	AMERICAN EXPRESS CO	$0	–	-4,500	–	-0.06%	–
PCLN	Exit	PRICELINE GRP INC	$0	–	-241	–	-0.07%	–
DOW	Exit	DOW CHEM CO	$0	–	-6,444	–	-0.08%	–
EMC	Exit	E M C CORP MASS	$0	–	-11,996	–	-0.08%	–
TRV	Exit	TRAVELERS COMPANIES INC	$0	–	-2,873	–	-0.08%	–
LH	Exit	LABORATORY CORP AMER HLDGS	$0	–	-2,720	–	-0.08%	–
C	Exit	CITIGROUP INC	$0	–	-8,966	–	-0.09%	–
TXN	Exit	TEXAS INSTRS INC	$0	–	-9,000	–	-0.13%	–
BA	Exit	BOEING CO	$0	–	-5,000	–	-0.15%	–
ACGL	Exit	ARCH CAP GROUP LTDord	$0	–	-10,365	–	-0.17%	–
AAPL	Exit	APPLE INCput	$0	–	-9,000	–	-0.20%	–
WU	Exit	WESTERN UN CO	$0	–	-48,250	–	-0.22%	–
CXA	Exit	SPDR SERIES TRUSTnuvn cali muni	$0	–	-150,593	–	-0.89%	–
GILD	Exit	GILEAD SCIENCES INC	$0	–	-145,644	–	-2.83%	–
EWJ	Exit	ISHARESmsci japan etf	$0	–	-3,437,165	–	-9.22%	–

Q2 2016

			Value		Shares		↓ Weighting
OEF	New	ISHARES TRs&p 100 etf	$58,382,000	–	628,444	–	13.62%	–
EWJ	New	ISHARESmsci japan etf	$39,527,000	–	3,437,165	–	9.22%	–
AAPL	New	APPLE INC	$25,988,000	–	271,843	–	6.06%	–
CWB	New	SPDR SERIES TRUSTbrc cnv secs etf	$18,331,000	–	418,137	–	4.28%	–
XLK	New	SELECT SECTOR SPDR TRtechnology	$17,968,000	–	414,399	–	4.19%	–
EEM	New	ISHARES TRmsci emg mkt etf	$16,263,000	–	473,313	–	3.79%	–
GLD	New	SPDR GOLD TRUST	$15,104,000	–	119,378	–	3.52%	–
CTSH	New	COGNIZANT TECHNOLOGY SOLUTIOcl a	$13,215,000	–	230,867	–	3.08%	–
MCHI	New	ISHARES TRchina etf	$13,083,000	–	308,625	–	3.05%	–
PKW	New	POWERSHARES ETF TRUSTdyna buybk ach	$12,545,000	–	277,547	–	2.93%	–
GILD	New	GILEAD SCIENCES INC	$12,150,000	–	145,644	–	2.83%	–
FB	New	FACEBOOK INCcl a	$11,399,000	–	99,747	–	2.66%	–
GOOGL	New	ALPHABET INCcap stk cl a	$11,291,000	–	16,049	–	2.63%	–
HD	New	HOME DEPOT INC	$10,938,000	–	85,661	–	2.55%	–
MUB	New	ISHARES TRnational mun etf	$10,186,000	–	89,400	–	2.38%	–
MCD	New	MCDONALDS CORP	$9,945,000	–	82,640	–	2.32%	–
AZN	New	ASTRAZENECA PLCsponsored adr	$8,496,000	–	281,430	–	1.98%	–
FEZ	New	SPDR INDEX SHS FDSeuro stoxx 50	$8,270,000	–	265,480	–	1.93%	–
V	New	VISA INC	$6,935,000	–	93,506	–	1.62%	–
CF	New	CF INDS HLDGS INC	$6,383,000	–	264,869	–	1.49%	–
VGK	New	VANGUARD INTL EQUITY INDEX Fftse europe etf	$5,548,000	–	118,901	–	1.29%	–
MSFT	New	MICROSOFT CORP	$4,735,000	–	92,540	–	1.10%	–
EWL	New	ISHARESmsci sz cap etf	$4,698,000	–	158,464	–	1.10%	–
CXA	New	SPDR SERIES TRUSTnuvn cali muni	$3,821,000	–	150,593	–	0.89%	–
CMF	New	ISHARES TRcalif mun bd etf	$3,675,000	–	30,112	–	0.86%	–
SPY	New	SPDR S&P 500 ETF TRtr unit	$3,655,000	–	17,445	–	0.85%	–
BRKA	New	BERKSHIRE HATHAWAY INC DELcl a	$3,038,000	–	14	–	0.71%	–
PEP	New	PEPSICO INC	$2,505,000	–	23,645	–	0.58%	–
EZU	New	ISHARESmsci eurzone etf	$2,335,000	–	72,349	–	0.54%	–
MRK	New	MERCK & CO INC	$2,325,000	–	40,351	–	0.54%	–
EWG	New	ISHARESmsci germany etf	$2,124,000	–	88,310	–	0.50%	–
JPM	New	JPMORGAN CHASE & CO	$2,028,000	–	32,630	–	0.47%	–
QQQ	New	POWERSHARES QQQ TRUSTunit ser 1	$1,989,000	–	18,495	–	0.46%	–
CVX	New	CHEVRON CORP NEW	$1,968,000	–	18,774	–	0.46%	–
CSCO	New	CISCO SYS INC	$1,961,000	–	68,351	–	0.46%	–
BOH	New	BANK HAWAII CORP	$1,915,000	–	27,830	–	0.45%	–
XLP	New	SELECT SECTOR SPDR TRsbi cons stpls	$1,911,000	–	34,660	–	0.45%	–
IPKW	New	POWERSHARES ETF TR IIpwrs int buybk	$1,867,000	–	71,750	–	0.44%	–
IWM	New	ISHARES TRrussell 2000 etf	$1,781,000	–	15,488	–	0.42%	–
XRAY	New	DENTSPLY SIRONA INC	$1,752,000	–	28,245	–	0.41%	–
ORCL	New	ORACLE CORP	$1,655,000	–	40,426	–	0.39%	–
ABBV	New	ABBVIE INC	$1,578,000	–	25,494	–	0.37%	–
INTC	New	INTEL CORP	$1,528,000	–	46,574	–	0.36%	–
CMG	New	CHIPOTLE MEXICAN GRILL INC	$1,500,000	–	3,724	–	0.35%	–
XLV	New	SELECT SECTOR SPDR TRsbi healthcare	$1,487,000	–	20,740	–	0.35%	–
SLB	New	SCHLUMBERGER LTD	$1,368,000	–	17,297	–	0.32%	–
HE	New	HAWAIIAN ELEC INDUSTRIES	$1,312,000	–	40,000	–	0.31%	–
PX	New	PRAXAIR INC	$1,298,000	–	11,550	–	0.30%	–
GE	New	GENERAL ELECTRIC CO	$1,295,000	–	41,140	–	0.30%	–
MA	New	MASTERCARD INCcl a	$1,246,000	–	14,150	–	0.29%	–
SBUX	New	STARBUCKS CORP	$1,210,000	–	21,185	–	0.28%	–
TAP	New	MOLSON COORS BREWING COcl b	$1,209,000	–	11,950	–	0.28%	–
RL	New	RALPH LAUREN CORPcl a	$1,102,000	–	12,300	–	0.26%	–
PM	New	PHILIP MORRIS INTL INC	$1,095,000	–	10,762	–	0.26%	–
XLF	New	SELECT SECTOR SPDR TRsbi int-finl	$1,012,000	–	44,335	–	0.24%	–
ABT	New	ABBOTT LABS	$984,000	–	25,031	–	0.23%	–
PYPL	New	PAYPAL HLDGS INC	$978,000	–	26,789	–	0.23%	–
PG	New	PROCTER & GAMBLE CO	$956,000	–	11,285	–	0.22%	–
AWK	New	AMERICAN WTR WKS CO INC NEW	$934,000	–	11,050	–	0.22%	–
IPGP	New	IPG PHOTONICS CORP	$928,000	–	11,603	–	0.22%	–
WU	New	WESTERN UN CO	$925,000	–	48,250	–	0.22%	–
GS	New	GOLDMAN SACHS GROUP INC	$921,000	–	6,200	–	0.22%	–
NWL	New	NEWELL BRANDS INC	$917,000	–	18,886	–	0.21%	–
MOAT	New	VANECK VECTORS ETF TRmorningstar wide	$908,000	–	27,922	–	0.21%	–
AMGN	New	AMGEN INC	$904,000	–	5,944	–	0.21%	–
AAPL	New	APPLE INCput	$860,000	–	9,000	–	0.20%	–
LYB	New	LYONDELLBASELL INDUSTRIES N	$841,000	–	11,300	–	0.20%	–
AMZN	New	AMAZON COM INC	$801,000	–	1,120	–	0.19%	–
ACGL	New	ARCH CAP GROUP LTDord	$746,000	–	10,365	–	0.17%	–
WDC	New	WESTERN DIGITAL CORP	$737,000	–	15,589	–	0.17%	–
CMS	New	CMS ENERGY CORP	$734,000	–	16,000	–	0.17%	–
EFA	New	ISHARES TRmsci eafe etf	$709,000	–	12,695	–	0.16%	–
T	New	AT&T INC	$648,000	–	15,000	–	0.15%	–
BA	New	BOEING CO	$649,000	–	5,000	–	0.15%	–
VOO	New	VANGUARD INDEX FDS	$630,000	–	3,275	–	0.15%	–
SO	New	SOUTHERN CO	$632,000	–	11,792	–	0.15%	–
PNC	New	PNC FINL SVCS GROUP INC	$630,000	–	7,743	–	0.15%	–
AFL	New	AFLAC INC	$628,000	–	8,703	–	0.15%	–
MMM	New	3M CO	$581,000	–	3,315	–	0.14%	–
TXN	New	TEXAS INSTRS INC	$564,000	–	9,000	–	0.13%	–
IVE	New	ISHARES TRs&p 500 val etf	$511,000	–	5,500	–	0.12%	–
MU	New	MICRON TECHNOLOGY INC	$452,000	–	32,870	–	0.10%	–
DIA	New	SPDR DOW JONES INDL AVRG ETFut ser 1	$412,000	–	2,300	–	0.10%	–
PFE	New	PFIZER INC	$409,000	–	11,625	–	0.10%	–
C	New	CITIGROUP INC	$380,000	–	8,966	–	0.09%	–
LH	New	LABORATORY CORP AMER HLDGS	$354,000	–	2,720	–	0.08%	–
PZA	New	POWERSHARES ETF TR IIinsur natl mun	$345,000	–	13,000	–	0.08%	–
TRV	New	TRAVELERS COMPANIES INC	$342,000	–	2,873	–	0.08%	–
EMC	New	E M C CORP MASS	$326,000	–	11,996	–	0.08%	–
DOW	New	DOW CHEM CO	$320,000	–	6,444	–	0.08%	–
TFI	New	SPDR SER TRnuvn brcly muni	$316,000	–	6,250	–	0.07%	–
PCLN	New	PRICELINE GRP INC	$301,000	–	241	–	0.07%	–
AXP	New	AMERICAN EXPRESS CO	$273,000	–	4,500	–	0.06%	–
CORP	New	PIMCO ETF TRinv grd crp bd	$272,000	–	2,560	–	0.06%	–
ADM	New	ARCHER DANIELS MIDLAND CO	$264,000	–	6,147	–	0.06%	–
DHR	New	DANAHER CORP DEL	$241,000	–	2,390	–	0.06%	–
EWA	New	ISHARESmsci aust etf	$241,000	–	12,400	–	0.06%	–
TJX	New	TJX COS INC NEW	$232,000	–	3,000	–	0.05%	–
PCG	New	PG&E CORP	$230,000	–	3,597	–	0.05%	–
JNJ	New	JOHNSON & JOHNSON	$209,000	–	1,721	–	0.05%	–
BABA	New	ALIBABA GROUP HLDG LTDsponsored ads	$210,000	–	2,639	–	0.05%	–
MGK	New	VANGUARD WORLD FDmega grwth ind	$209,000	–	2,500	–	0.05%	–
IYF	New	ISHARES TRu.s. finls etf	$205,000	–	2,390	–	0.05%	–
KEGXQ	New	KEY ENERGY SVCS INC	$28,000	–	120,000	–	0.01%	–

Q4 2015

			Value		Shares		↓ Weighting
KEGXQ	Exit	KEY ENERGY SVCS INC	$0	–	-120,000	–	-0.02%	–
EWA	Exit	ISHARESmsci aust etf	$0	–	-10,070	–	-0.05%	–
HYEM	Exit	MARKET VECTORS ETF TRemkt hiyld bd	$0	–	-9,700	–	-0.06%	–
UTX	Exit	UNITED TECHNOLOGIES CORP	$0	–	-2,610	–	-0.06%	–
PCLN	Exit	PRICELINE GRP INC	$0	–	-185	–	-0.06%	–
HAL	Exit	HALLIBURTON CO	$0	–	-6,500	–	-0.06%	–
DHR	Exit	DANAHER CORP DEL	$0	–	-2,820	–	-0.07%	–
TJX	Exit	TJX COS INC NEW	$0	–	-3,375	–	-0.07%	–
EZU	Exit	ISHARESmsci eurzone etf	$0	–	-7,165	–	-0.07%	–
IYR	Exit	ISHARES TRu.s. real es etf	$0	–	-3,475	–	-0.07%	–
CORP	Exit	PIMCO ETF TRinv grd crp bd	$0	–	-2,560	–	-0.07%	–
XL	Exit	XL GROUP PLC	$0	–	-7,094	–	-0.07%	–
EBAY	Exit	EBAY INC	$0	–	-10,780	–	-0.07%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC	$0	–	-2,150	–	-0.07%	–
NWL	Exit	NEWELL RUBBERMAID INC	$0	–	-6,920	–	-0.08%	–
INTC	Exit	INTEL CORP	$0	–	-9,494	–	-0.08%	–
MU	Exit	MICRON TECHNOLOGY INC	$0	–	-19,250	–	-0.08%	–
AME	Exit	AMETEK INC NEW	$0	–	-5,560	–	-0.08%	–
TFI	Exit	SPDR SERIES TRUSTnuvn brcly muni	$0	–	-12,500	–	-0.08%	–
PZA	Exit	POWERSHARES GLOBAL ETF TRUSTinsur natl mun	$0	–	-13,000	–	-0.09%	–
IPGP	Exit	IPG PHOTONICS CORP	$0	–	-4,303	–	-0.09%	–
PICB	Exit	POWERSHARES ETF TRUST IIintl corp bond	$0	–	-13,500	–	-0.10%	–
WFC	Exit	WELLS FARGO & CO NEW	$0	–	-7,100	–	-0.10%	–
LH	Exit	LABORATORY CORP AMER HLDGS	$0	–	-3,790	–	-0.11%	–
AMZN	Exit	AMAZON COM INC	$0	–	-803	–	-0.11%	–
AWK	Exit	AMERICAN WTR WKS CO INC NEW	$0	–	-7,710	–	-0.12%	–
QCOM	Exit	QUALCOMM INC	$0	–	-8,011	–	-0.12%	–
PYPL	Exit	PAYPAL HLDGS INC	$0	–	-14,195	–	-0.12%	–
CF	Exit	CF INDS HLDGS INC	$0	–	-10,525	–	-0.13%	–
HON	Exit	HONEYWELL INTL INC	$0	–	-5,000	–	-0.13%	–
GURU	Exit	GLOBAL X FDSglb x guru index	$0	–	-20,681	–	-0.13%	–
BOH	Exit	BANK HAWAII CORP	$0	–	-7,931	–	-0.14%	–
HYG	Exit	ISHARES TRiboxx hi yd etf	$0	–	-6,068	–	-0.14%	–
USB	Exit	US BANCORP DEL	$0	–	-12,465	–	-0.14%	–
BABA	Exit	ALIBABA GROUP HLDG LTDsponsored ads	$0	–	-8,744	–	-0.14%	–
AIG	Exit	AMERICAN INTL GROUP INC	$0	–	-9,090	–	-0.14%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-8,701	–	-0.15%	–
PG	Exit	PROCTER & GAMBLE CO	$0	–	-7,510	–	-0.15%	–
MMM	Exit	3M CO	$0	–	-4,110	–	-0.16%	–
ACGL	Exit	ARCH CAP GROUP LTDord	$0	–	-8,188	–	-0.17%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-24,100	–	-0.17%	–
IJK	Exit	ISHARES TRs&p mc 400gr etf	$0	–	-4,025	–	-0.18%	–
LYB	Exit	LYONDELLBASELL INDUSTRIES N	$0	–	-7,795	–	-0.18%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-5,000	–	-0.18%	–
MCD	Exit	MCDONALDS CORP	$0	–	-7,456	–	-0.20%	–
XRAY	Exit	DENTSPLY INTL INC NEW	$0	–	-15,998	–	-0.22%	–
ABT	Exit	ABBOTT LABS	$0	–	-20,670	–	-0.23%	–
MA	Exit	MASTERCARD INCcl a	$0	–	-9,620	–	-0.24%	–
PNC	Exit	PNC FINL SVCS GROUP INC	$0	–	-9,945	–	-0.25%	–
TAP	Exit	MOLSON COORS BREWING COcl b	$0	–	-10,850	–	-0.25%	–
ABBV	Exit	ABBVIE INC	$0	–	-18,296	–	-0.28%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-11,172	–	-0.28%	–
VQT	Exit	BARCLAYS BK PLCs&p 500 veqtor	$0	–	-7,765	–	-0.29%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-15,000	–	-0.29%	–
CSCO	Exit	CISCO SYS INC	$0	–	-40,572	–	-0.30%	–
DXJ	Exit	WISDOMTREE TRjapn hedge eqt	$0	–	-21,981	–	-0.30%	–
VOO	Exit	VANGUARD INDEX FDS	$0	–	-6,670	–	-0.32%	–
PX	Exit	PRAXAIR INC	$0	–	-11,705	–	-0.33%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-15,440	–	-0.34%	–
EMC	Exit	E M C CORP MASS	$0	–	-54,910	–	-0.37%	–
MRK	Exit	MERCK & CO INC NEW	$0	–	-27,121	–	-0.37%	–
SBUX	Exit	STARBUCKS CORP	$0	–	-24,235	–	-0.38%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-33,580	–	-0.41%	–
PEP	Exit	PEPSICO INC	$0	–	-18,505	–	-0.48%	–
EWG	Exit	ISHARESmsci germany etf	$0	–	-82,970	–	-0.57%	–
GILD	Exit	GILEAD SCIENCES INC	$0	–	-21,924	–	-0.60%	–
ORCL	Exit	ORACLE CORP	$0	–	-62,139	–	-0.62%	–
IPKW	Exit	POWERSHARES ETF TR IIpwrs int buybk	$0	–	-95,450	–	-0.66%	–
BRKA	Exit	BERKSHIRE HATHAWAY INC DELcl a	$0	–	-14	–	-0.76%	–
SJNK	Exit	SPDR SER TRsht trm hgh yld	$0	–	-151,100	–	-1.13%	–
GLD	Exit	SPDR GOLD TRUST	$0	–	-40,186	–	-1.19%	–
IWM	Exit	ISHARES TRrussell 2000 etf	$0	–	-45,523	–	-1.38%	–
EWL	Exit	ISHARESmsci sz cap etf	$0	–	-165,947	–	-1.41%	–
VGK	Exit	VANGUARD INTL EQUITY INDEX Fftse europe etf	$0	–	-157,527	–	-2.15%	–
V	Exit	VISA INC	$0	–	-114,318	–	-2.21%	–
FEZ	Exit	SPDR INDEX SHS FDSeuro stoxx 50	$0	–	-263,235	–	-2.47%	–
EFA	Exit	ISHARES TRmsci eafe etf	$0	–	-259,470	–	-4.13%	–
DB	Exit	DEUTSCHE BANK AGnamen akt	$0	–	-583,193	–	-4.35%	–
MOAT	Exit	MARKET VECTORS ETF TRmkt vectr wide	$0	–	-580,273	–	-4.50%	–
PKW	Exit	POWERSHARES ETF TRUSTdyna buybk ach	$0	–	-628,020	–	-7.63%	–
CWB	Exit	SPDR SERIES TRUSTbrc cnv secs etf	$0	–	-751,773	–	-9.33%	–
AAPL	Exit	APPLE INC	$0	–	-376,571	–	-11.52%	–
EWJ	Exit	ISHARESmsci japan etf	$0	–	-3,908,296	–	-12.40%	–
OEF	Exit	ISHARES TRs&p 100 etf	$0	–	-858,403	–	-20.19%	–

Q3 2015

			Value		Shares		↓ Weighting
OEF	Buy	ISHARES TRs&p 100 etf	$72,775,000	-3.0%	858,403	+4.0%	20.19%	-24.7%
EWJ	New	ISHARESmsci japan etf	$44,672,000	–	3,908,296	–	12.40%	–
AAPL	New	APPLE INC	$41,536,000	–	376,571	–	11.52%	–
CWB	New	SPDR SERIES TRUSTbrc cnv secs etf	$33,619,000	–	751,773	–	9.33%	–
PKW	Buy	POWERSHARES ETF TRUSTdyna buybk ach	$27,495,000	-9.3%	628,020	+0.7%	7.63%	-29.6%
MOAT	Buy	MARKET VECTORS ETF TRmkt vectr wide	$16,207,000	-8.9%	580,273	+0.0%	4.50%	-29.3%
DB	Buy	DEUTSCHE BANK AGnamen akt	$15,669,000	-9.5%	583,193	+1.1%	4.35%	-29.7%
EFA	Buy	ISHARES TRmsci eafe etf	$14,873,000	-9.0%	259,470	+0.8%	4.13%	-29.3%
FEZ	Sell	SPDR INDEX SHS FDSeuro stoxx 50	$8,911,000	-14.8%	263,235	-5.8%	2.47%	-33.8%
V	New	VISA INC	$7,963,000	–	114,318	–	2.21%	–
VGK	Buy	VANGUARD INTL EQUITY INDEX Fftse europe etf	$7,747,000	+11.9%	157,527	+22.8%	2.15%	-13.1%
EWL	New	ISHARESmsci sz cap etf	$5,076,000	–	165,947	–	1.41%	–
IWM	New	ISHARES TRrussell 2000 etf	$4,971,000	–	45,523	–	1.38%	–
GLD	Sell	SPDR GOLD TRUST	$4,294,000	-4.9%	40,186	-0.0%	1.19%	-26.2%
SJNK	Sell	SPDR SER TRsht trm hgh yld	$4,071,000	-82.0%	151,100	-80.6%	1.13%	-86.0%
BRKA	New	BERKSHIRE HATHAWAY INC DELcl a	$2,733,000	–	14	–	0.76%	–
IPKW	Buy	POWERSHARES ETF TR IIpwrs int buybk	$2,384,000	-3.8%	95,450	+5.6%	0.66%	-25.4%
ORCL	Buy	ORACLE CORP	$2,244,000	-9.5%	62,139	+1.0%	0.62%	-29.7%
GILD	New	GILEAD SCIENCES INC	$2,153,000	–	21,924	–	0.60%	–
EWG	New	ISHARESmsci germany etf	$2,053,000	–	82,970	–	0.57%	–
PEP	New	PEPSICO INC	$1,745,000	–	18,505	–	0.48%	–
MSFT	New	MICROSOFT CORP	$1,486,000	–	33,580	–	0.41%	–
SBUX	New	STARBUCKS CORP	$1,378,000	–	24,235	–	0.38%	–
MRK	New	MERCK & CO INC NEW	$1,340,000	–	27,121	–	0.37%	–
EMC	Buy	E M C CORP MASS	$1,327,000	+0.1%	54,910	+9.3%	0.37%	-22.4%
CVX	New	CHEVRON CORP NEW	$1,218,000	–	15,440	–	0.34%	–
PX	New	PRAXAIR INC	$1,192,000	–	11,705	–	0.33%	–
DXJ	New	WISDOMTREE TRjapn hedge eqt	$1,070,000	–	21,981	–	0.30%	–
CSCO	New	CISCO SYS INC	$1,065,000	–	40,572	–	0.30%	–
SLB	New	SCHLUMBERGER LTD	$1,035,000	–	15,000	–	0.29%	–
VQT	Sell	BARCLAYS BK PLCs&p 500 veqtor	$1,035,000	-95.5%	7,765	-95.1%	0.29%	-96.5%
FB	New	FACEBOOK INCcl a	$1,004,000	–	11,172	–	0.28%	–
ABBV	Sell	ABBVIE INC	$995,000	-21.5%	18,296	-3.0%	0.28%	-39.1%
TAP	Buy	MOLSON COORS BREWING COcl b	$901,000	+21.3%	10,850	+1.9%	0.25%	-5.7%
PNC	Buy	PNC FINL SVCS GROUP INC	$887,000	+29.1%	9,945	+38.5%	0.25%	+0.4%
MA	Buy	MASTERCARD INCcl a	$867,000	-3.3%	9,620	+0.2%	0.24%	-24.7%
ABT	New	ABBOTT LABS	$831,000	–	20,670	–	0.23%	–
XRAY	New	DENTSPLY INTL INC NEW	$809,000	–	15,998	–	0.22%	–
MCD	Buy	MCDONALDS CORP	$735,000	+7.0%	7,456	+3.3%	0.20%	-16.7%
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$652,000	–	5,000	–	0.18%	–
LYB	Sell	LYONDELLBASELL INDUSTRIES N	$650,000	-23.1%	7,795	-4.5%	0.18%	-40.4%
GE	New	GENERAL ELECTRIC CO	$608,000	–	24,100	–	0.17%	–
ACGL	New	ARCH CAP GROUP LTDord	$602,000	–	8,188	–	0.17%	–
PG	New	PROCTER & GAMBLE CO	$540,000	–	7,510	–	0.15%	–
JPM	Buy	JPMORGAN CHASE & CO	$530,000	-6.9%	8,701	+3.6%	0.15%	-27.6%
BABA	New	ALIBABA GROUP HLDG LTDsponsored ads	$516,000	–	8,744	–	0.14%	–
AIG	New	AMERICAN INTL GROUP INC	$516,000	–	9,090	–	0.14%	–
USB	New	US BANCORP DEL	$511,000	–	12,465	–	0.14%	–
BOH	New	BANK HAWAII CORP	$504,000	–	7,931	–	0.14%	–
HYG	New	ISHARES TRiboxx hi yd etf	$505,000	–	6,068	–	0.14%	–
GURU	Buy	GLOBAL X FDSglb x guru index	$481,000	-6.4%	20,681	+6.1%	0.13%	-27.7%
CF	Buy	CF INDS HLDGS INC	$473,000	-14.2%	10,525	+22.7%	0.13%	-33.5%
HON	New	HONEYWELL INTL INC	$473,000	–	5,000	–	0.13%	–
PYPL	New	PAYPAL HLDGS INC	$441,000	–	14,195	–	0.12%	–
QCOM	New	QUALCOMM INC	$430,000	–	8,011	–	0.12%	–
LH	Buy	LABORATORY CORP AMER HLDGS	$411,000	-5.5%	3,790	+5.6%	0.11%	-26.5%
AMZN	New	AMAZON COM INC	$411,000	–	803	–	0.11%	–
WFC	New	WELLS FARGO & CO NEW	$365,000	–	7,100	–	0.10%	–
IPGP	Buy	IPG PHOTONICS CORP	$327,000	-8.7%	4,303	+2.4%	0.09%	-28.9%
PZA	New	POWERSHARES GLOBAL ETF TRUSTinsur natl mun	$325,000	–	13,000	–	0.09%	–
TFI	New	SPDR SERIES TRUSTnuvn brcly muni	$301,000	–	12,500	–	0.08%	–
AME	New	AMETEK INC NEW	$291,000	–	5,560	–	0.08%	–
MU	Buy	MICRON TECHNOLOGY INC	$288,000	+9.5%	19,250	+37.7%	0.08%	-14.9%
INTC	New	INTEL CORP	$286,000	–	9,494	–	0.08%	–
NWL	Buy	NEWELL RUBBERMAID INC	$275,000	+4.2%	6,920	+7.8%	0.08%	-19.1%
TMO	New	THERMO FISHER SCIENTIFIC INC	$263,000	–	2,150	–	0.07%	–
EBAY	New	EBAY INC	$263,000	–	10,780	–	0.07%	–
EZU	New	ISHARESmsci eurzone etf	$246,000	–	7,165	–	0.07%	–
TJX	New	TJX COS INC NEW	$241,000	–	3,375	–	0.07%	–
DHR	New	DANAHER CORP DEL	$240,000	–	2,820	–	0.07%	–
PCLN	New	PRICELINE GRP INC	$229,000	–	185	–	0.06%	–
HAL	New	HALLIBURTON CO	$230,000	–	6,500	–	0.06%	–
UTX	Sell	UNITED TECHNOLOGIES CORP	$232,000	-76.8%	2,610	-71.0%	0.06%	-82.1%
HYEM	Sell	MARKET VECTORS ETF TRemkt hiyld bd	$219,000	-9.1%	9,700	-3.0%	0.06%	-29.1%
EWA	New	ISHARESmsci aust etf	$180,000	–	10,070	–	0.05%	–
LQD	Exit	ISHARES TRiboxx inv cp etf	$0	–	-2,000	–	-0.08%	–
LUK	Exit	LEUCADIA NATL CORP	$0	–	-12,000	–	-0.10%	–
DISCK	Exit	DISCOVERY COMMUNICATNS NEW	$0	–	-10,000	–	-0.11%	–
DVYA	Exit	ISHARESasia/pac div etf	$0	–	-6,925	–	-0.12%	–
BAM	Exit	BROOKFIELD ASSET MGMT INCcl a ltd vt sh	$0	–	-15,000	–	-0.19%	–
STT	Exit	STATE STR CORP	$0	–	-6,900	–	-0.19%	–
VWO	Exit	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$0	–	-50,650	–	-0.74%	–
MLPI	Exit	UBS AG JERSEY BRHalerian infrst	$0	–	-83,814	–	-1.05%	–
AMLP	Exit	ALPS ETF TRalerian mlp	$0	–	-594,006	–	-3.30%	–
CQQQ	Exit	CLAYMORE EXCHANGE TRD FD TRgugg chn tech	$0	–	-485,646	–	-6.89%	–

Q2 2015

			Value		Shares		↓ Weighting
OEF	New	ISHARES TRs&p 100 etf	$75,013,000	–	825,776	–	26.80%	–
PKW	New	POWERSHARES ETF TRUSTdyna buybk ach	$30,325,000	–	623,852	–	10.84%	–
VQT	New	BARCLAYS BK PLCs&p 500 veqtor	$22,965,000	–	159,977	–	8.20%	–
SJNK	New	SPDR SER TRsht trm hgh yld	$22,573,000	–	780,810	–	8.06%	–
CQQQ	New	CLAYMORE EXCHANGE TRD FD TRgugg chn tech	$19,285,000	–	485,646	–	6.89%	–
MOAT	New	MARKET VECTORS ETF TRmkt vectr wide	$17,795,000	–	580,200	–	6.36%	–
DB	New	DEUTSCHE BANK AGnamen akt	$17,314,000	–	576,588	–	6.19%	–
EFA	New	ISHARES TRmsci eafe etf	$16,348,000	–	257,491	–	5.84%	–
FEZ	New	SPDR INDEX SHS FDSeuro stoxx 50	$10,462,000	–	279,505	–	3.74%	–
AMLP	New	ALPS ETF TRalerian mlp	$9,243,000	–	594,006	–	3.30%	–
VGK	New	VANGUARD INTL EQUITY INDEX Fftse europe etf	$6,923,000	–	128,259	–	2.47%	–
GLD	New	SPDR GOLD TRUST	$4,516,000	–	40,191	–	1.61%	–
MLPI	New	UBS AG JERSEY BRHalerian infrst	$2,943,000	–	83,814	–	1.05%	–
IPKW	New	POWERSHARES ETF TR IIpwrs int buybk	$2,479,000	–	90,360	–	0.89%	–
ORCL	New	ORACLE CORP	$2,480,000	–	61,542	–	0.89%	–
VWO	New	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$2,071,000	–	50,650	–	0.74%	–
EMC	New	E M C CORP MASS	$1,326,000	–	50,250	–	0.47%	–
ABBV	New	ABBVIE INC	$1,267,000	–	18,856	–	0.45%	–
VOO	New	VANGUARD INDEX FDS	$1,260,000	–	6,670	–	0.45%	–
UTX	New	UNITED TECHNOLOGIES CORP	$999,000	–	9,010	–	0.36%	–
MA	New	MASTERCARD INCcl a	$897,000	–	9,600	–	0.32%	–
LYB	New	LYONDELLBASELL INDUSTRIES N	$845,000	–	8,162	–	0.30%	–
TAP	New	MOLSON COORS BREWING COcl b	$743,000	–	10,650	–	0.26%	–
PNC	New	PNC FINL SVCS GROUP INC	$687,000	–	7,180	–	0.24%	–
MCD	New	MCDONALDS CORP	$687,000	–	7,221	–	0.24%	–
IJK	New	ISHARES TRs&p mc 400gr etf	$682,000	–	4,025	–	0.24%	–
MMM	New	3M CO	$634,000	–	4,110	–	0.23%	–
JPM	New	JPMORGAN CHASE & CO	$569,000	–	8,401	–	0.20%	–
CF	New	CF INDS HLDGS INC	$551,000	–	8,575	–	0.20%	–
STT	New	STATE STR CORP	$531,000	–	6,900	–	0.19%	–
BAM	New	BROOKFIELD ASSET MGMT INCcl a ltd vt sh	$524,000	–	15,000	–	0.19%	–
GURU	New	GLOBAL X FDSglb x guru index	$514,000	–	19,500	–	0.18%	–
LH	New	LABORATORY CORP AMER HLDGS	$435,000	–	3,590	–	0.16%	–
AWK	New	AMERICAN WTR WKS CO INC NEW	$375,000	–	7,710	–	0.13%	–
PICB	New	POWERSHARES ETF TRUST IIintl corp bond	$357,000	–	13,500	–	0.13%	–
IPGP	New	IPG PHOTONICS CORP	$358,000	–	4,203	–	0.13%	–
DVYA	New	ISHARESasia/pac div etf	$323,000	–	6,925	–	0.12%	–
DISCK	New	DISCOVERY COMMUNICATNS NEW	$311,000	–	10,000	–	0.11%	–
LUK	New	LEUCADIA NATL CORP	$291,000	–	12,000	–	0.10%	–
MU	New	MICRON TECHNOLOGY INC	$263,000	–	13,975	–	0.09%	–
NWL	New	NEWELL RUBBERMAID INC	$264,000	–	6,420	–	0.09%	–
XL	New	XL GROUP PLC	$264,000	–	7,094	–	0.09%	–
CORP	New	PIMCO ETF TRinv grd crp bd	$258,000	–	2,560	–	0.09%	–
IYR	New	ISHARES TRu.s. real es etf	$248,000	–	3,475	–	0.09%	–
HYEM	New	MARKET VECTORS ETF TRemkt hiyld bd	$241,000	–	10,000	–	0.09%	–
LQD	New	ISHARES TRiboxx inv cp etf	$231,000	–	2,000	–	0.08%	–
KEGXQ	New	KEY ENERGY SVCS INC	$216,000	–	120,000	–	0.08%	–

Q4 2014

			Value		Shares		↓ Weighting
EWA	Exit	ISHARESmsci aust etf	$0	–	-8,571	–	-0.05%	–
GOOG	Exit	GOOGLE INCcl c	$0	–	-386	–	-0.05%	–
HYEM	Exit	MARKET VECTORS ETF TRemkt hiyld bd	$0	–	-9,235	–	-0.06%	–
CORP	Exit	PIMCO ETF TRinv grd crp bd	$0	–	-2,560	–	-0.06%	–
EWJ	Exit	ISHARESmsci japan etf	$0	–	-23,850	–	-0.07%	–
GOOGL	Exit	GOOGLE INCcl a	$0	–	-496	–	-0.07%	–
PG	Exit	PROCTER & GAMBLE CO	$0	–	-4,320	–	-0.08%	–
DVYA	Exit	ISHARESasia/pac div etf	$0	–	-6,995	–	-0.09%	–
STT	Exit	STATE STR CORP	$0	–	-5,150	–	-0.09%	–
SPY	Exit	SPDR S&P 500 ETF TRtr unit	$0	–	-2,035	–	-0.09%	–
USB	Exit	US BANCORP DEL	$0	–	-9,635	–	-0.10%	–
QCOM	Exit	QUALCOMM INC	$0	–	-5,960	–	-0.10%	–
SBUX	Exit	STARBUCKS CORP	$0	–	-5,935	–	-0.10%	–
NOV	Exit	NATIONAL OILWELL VARCO INC	$0	–	-6,000	–	-0.11%	–
MCD	Exit	MCDONALDS CORP	$0	–	-4,896	–	-0.11%	–
MU	Exit	MICRON TECHNOLOGY INC	$0	–	-14,200	–	-0.11%	–
MRK	Exit	MERCK & CO INC NEW	$0	–	-8,306	–	-0.12%	–
PICB	Exit	POWERSHARES ETF TRUST IIintl corp bond	$0	–	-16,950	–	-0.12%	–
AMZN	Exit	AMAZON COM INC	$0	–	-1,655	–	-0.13%	–
OXY	Exit	OCCIDENTAL PETE CORP DEL	$0	–	-5,830	–	-0.13%	–
PX	Exit	PRAXAIR INC	$0	–	-4,555	–	-0.14%	–
IJK	Exit	ISHARES TRs&p mc 400gr etf	$0	–	-4,000	–	-0.14%	–
PEP	Exit	PEPSICO INC	$0	–	-6,645	–	-0.15%	–
GOLD	Exit	BARRICK GOLD CORP	$0	–	-42,280	–	-0.15%	–
PNC	Exit	PNC FINL SVCS GROUP INC	$0	–	-7,430	–	-0.15%	–
ORCL	Exit	ORACLE CORP	$0	–	-17,900	–	-0.16%	–
EMC	Exit	E M C CORP MASS	$0	–	-26,570	–	-0.18%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-15,000	–	-0.36%	–
EWG	Exit	ISHARESmsci germany etf	$0	–	-55,584	–	-0.36%	–
VWO	Exit	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$0	–	-43,620	–	-0.43%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-15,440	–	-0.43%	–
MLPI	Exit	UBS AG JERSEY BRHalerian infrst	$0	–	-58,048	–	-0.62%	–
BRKA	Exit	BERKSHIRE HATHAWAY INC DELcl a	$0	–	-14	–	-0.68%	–
GLD	Exit	SPDR GOLD TRUST	$0	–	-29,200	–	-0.80%	–
V	Exit	VISA INC	$0	–	-16,980	–	-0.85%	–
IWM	Exit	ISHARES TRrussell 2000 etf	$0	–	-33,536	–	-0.86%	–
EWL	Exit	ISHARESmsci sz cap etf	$0	–	-176,118	–	-1.35%	–
VGK	Exit	VANGUARD INTL EQUITY INDEX Fftse europe etf	$0	–	-109,433	–	-1.42%	–
FEZ	Exit	SPDR INDEX SHS FDSeuro stoxx 50	$0	–	-292,770	–	-2.73%	–
AMLP	Exit	ALPS ETF TRalerian mlp	$0	–	-748,446	–	-3.37%	–
EFA	Exit	ISHARES TRmsci eafe etf	$0	–	-258,147	–	-3.89%	–
GURU	Exit	GLOBAL X FDSglb x guru index	$0	–	-747,682	–	-4.62%	–
IHY	Exit	MARKET VECTORS ETF TRintl hi yld bd	$0	–	-912,882	–	-5.68%	–
PKW	Exit	POWERSHARES ETF TRUSTdyna buybk ach	$0	–	-595,099	–	-6.26%	–
DXJ	Exit	WISDOMTREE TRjapn hedge eqt	$0	–	-531,395	–	-6.54%	–
MOAT	Exit	MARKET VECTORS ETF TRmkt vectr wide	$0	–	-892,735	–	-6.57%	–
AAPL	Exit	APPLE INC	$0	–	-344,810	–	-8.17%	–
SJNK	Exit	SPDR SER TRsht trm hgh yld	$0	–	-1,545,077	–	-10.87%	–
CWB	Exit	SPDR SERIES TRUSTbrc cnv secs etf	$0	–	-1,173,185	–	-13.69%	–
OEF	Exit	ISHARES TRs&p 100 etf	$0	–	-798,135	–	-16.54%	–

Q3 2014

			Value		Shares		↓ Weighting
OEF	Sell	ISHARES TRs&p 100 etf	$70,364,000	+0.6%	798,135	-1.2%	16.54%	-8.2%
CWB	Buy	SPDR SERIES TRUSTbrc cnv secs etf	$58,249,000	-0.4%	1,173,185	+1.3%	13.69%	-9.1%
SJNK	Sell	SPDR SER TRsht trm hgh yld	$46,244,000	-5.0%	1,545,077	-1.7%	10.87%	-13.3%
AAPL	Sell	APPLE INC	$34,740,000	+7.3%	344,810	-1.1%	8.17%	-2.1%
MOAT	New	MARKET VECTORS ETF TRmkt vectr wide	$27,952,000	–	892,735	–	6.57%	–
DXJ	Sell	WISDOMTREE TRjapn hedge eqt	$27,803,000	+4.7%	531,395	-1.2%	6.54%	-4.5%
PKW	Sell	POWERSHARES ETF TRUSTdyna buybk ach	$26,625,000	-1.2%	595,099	-1.0%	6.26%	-9.9%
IHY	New	MARKET VECTORS ETF TRintl hi yld bd	$24,152,000	–	912,882	–	5.68%	–
GURU	Sell	GLOBAL X FDSglb x guru index	$19,675,000	-1.9%	747,682	-1.4%	4.62%	-10.5%
EFA	Sell	ISHARES TRmsci eafe etf	$16,552,000	-7.4%	258,147	-1.3%	3.89%	-15.5%
AMLP	Sell	ALPS ETF TRalerian mlp	$14,348,000	-0.0%	748,446	-0.9%	3.37%	-8.8%
FEZ	Sell	SPDR INDEX SHS FDSeuro stoxx 50	$11,623,000	-8.8%	292,770	-0.6%	2.73%	-16.8%
VGK	Buy	VANGUARD INTL EQUITY INDEX Fftse europe etf	$6,043,000	-6.3%	109,433	+1.7%	1.42%	-14.5%
EWL	Sell	ISHARESmsci sz cap etf	$5,726,000	-7.2%	176,118	-2.0%	1.35%	-15.3%
IWM	Sell	ISHARES TRrussell 2000 etf	$3,667,000	-18.8%	33,536	-11.8%	0.86%	-25.9%
V	Sell	VISA INC	$3,623,000	-5.6%	16,980	-6.8%	0.85%	-13.9%
GLD	Buy	SPDR GOLD TRUST	$3,393,000	-6.8%	29,200	+2.7%	0.80%	-14.9%
MLPI	Buy	UBS AG JERSEY BRHalerian infrst	$2,654,000	+7.2%	58,048	+4.5%	0.62%	-2.2%
CVX	Buy	CHEVRON CORP NEW	$1,842,000	-3.4%	15,440	+5.8%	0.43%	-11.8%
VWO	Sell	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$1,819,000	-12.6%	43,620	-9.6%	0.43%	-20.1%
EWG	Buy	ISHARESmsci germany etf	$1,540,000	-10.8%	55,584	+0.7%	0.36%	-18.7%
EMC	Buy	E M C CORP MASS	$777,000	+134.7%	26,570	+111.7%	0.18%	+115.3%
ORCL	Buy	ORACLE CORP	$685,000	+186.6%	17,900	+203.4%	0.16%	+159.7%
PNC	New	PNC FINL SVCS GROUP INC	$636,000	–	7,430	–	0.15%	–
PEP	Buy	PEPSICO INC	$619,000	+164.5%	6,645	+153.7%	0.15%	+143.3%
GOLD	Sell	BARRICK GOLD CORP	$623,000	-93.0%	42,280	-91.3%	0.15%	-93.6%
PX	Buy	PRAXAIR INC	$588,000	+66.6%	4,555	+71.6%	0.14%	+51.6%
OXY	Buy	OCCIDENTAL PETE CORP DEL	$561,000	+64.0%	5,830	+75.1%	0.13%	+50.0%
AMZN	Buy	AMAZON COM INC	$534,000	+75.7%	1,655	+77.0%	0.13%	+61.5%
PICB	Sell	POWERSHARES ETF TRUST IIintl corp bond	$493,000	-22.5%	16,950	-18.3%	0.12%	-29.3%
MRK	Buy	MERCK & CO INC NEW	$492,000	+23.0%	8,306	+20.3%	0.12%	+12.6%
MU	New	MICRON TECHNOLOGY INC	$486,000	–	14,200	–	0.11%	–
MCD	Buy	MCDONALDS CORP	$464,000	+39.8%	4,896	+48.5%	0.11%	+26.7%
NOV	New	NATIONAL OILWELL VARCO INC	$457,000	–	6,000	–	0.11%	–
QCOM	Buy	QUALCOMM INC	$446,000	+15.8%	5,960	+22.6%	0.10%	+6.1%
SBUX	Buy	STARBUCKS CORP	$448,000	+52.9%	5,935	+56.8%	0.10%	+40.0%
USB	Buy	US BANCORP DEL	$403,000	+14.5%	9,635	+18.4%	0.10%	+4.4%
STT	Buy	STATE STR CORP	$379,000	+29.4%	5,150	+18.4%	0.09%	+18.7%
DVYA	Sell	ISHARESasia/pac div etf	$364,000	-23.4%	6,995	-14.2%	0.09%	-29.5%
PG	Buy	PROCTER & GAMBLE CO	$362,000	+38.7%	4,320	+30.1%	0.08%	+26.9%
GOOGL	Buy	GOOGLE INCcl a	$292,000	+20.2%	496	+19.2%	0.07%	+9.5%
EWJ	Sell	ISHARESmsci japan etf	$281,000	-19.5%	23,850	-17.6%	0.07%	-26.7%
HYEM	Sell	MARKET VECTORS ETF TRemkt hiyld bd	$236,000	-24.6%	9,235	-22.0%	0.06%	-32.1%
GOOG	New	GOOGLE INCcl c	$223,000	–	386	–	0.05%	–
EWA	Sell	ISHARESmsci aust etf	$205,000	-16.3%	8,571	-8.5%	0.05%	-23.8%
SDY	Exit	SPDR SERIES TRUSTs&p divid etf	$0	–	-2,675	–	-0.05%	–
EZU	Exit	ISHARESemu etf	$0	–	-5,750	–	-0.06%	–
HYG	Exit	ISHARESiboxx hi yd etf	$0	–	-2,980	–	-0.07%	–
MUNI	Exit	PIMCO ETF TRinter mun bd st	$0	–	-6,400	–	-0.09%	–
EWP	Exit	ISHARESmsci span cp etf	$0	–	-8,100	–	-0.09%	–
BOND	Exit	PIMCO ETF TRtotl retn etf	$0	–	-44,461	–	-1.25%	–

Q2 2014

			Value		Shares		↓ Weighting
OEF	New	ISHARESs&p 100 etf	$69,925,000	–	808,102	–	18.02%	–
CWB	New	SPDR SERIES TRUSTbrc cnv secs etf	$58,497,000	–	1,158,350	–	15.07%	–
SJNK	New	SPDR SER TRsht trm hgh yld	$48,685,000	–	1,572,512	–	12.54%	–
AAPL	New	APPLE INC	$32,390,000	–	348,543	–	8.34%	–
PKW	New	POWERSHARES ETF TRUSTdyna buybk ach	$26,958,000	–	601,069	–	6.94%	–
DXJ	New	WISDOMTREE TRjapn hedge eqt	$26,555,000	–	537,983	–	6.84%	–
GURU	New	GLOBAL X FDSglb x guru index	$20,058,000	–	758,328	–	5.17%	–
EFA	New	ISHARESmsci eafe etf	$17,883,000	–	261,561	–	4.61%	–
AMLP	New	ALPS ETF TRalerian mlp	$14,355,000	–	755,521	–	3.70%	–
FEZ	New	SPDR INDEX SHS FDSeuro stoxx 50	$12,748,000	–	294,605	–	3.28%	–
GOLD	New	BARRICK GOLD CORP	$8,914,000	–	485,930	–	2.30%	–
VGK	New	VANGUARD INTL EQUITY INDEX Fftse europe etf	$6,452,000	–	107,623	–	1.66%	–
EWL	New	ISHARESmsci sz cap etf	$6,169,000	–	179,753	–	1.59%	–
BOND	New	PIMCO ETF TRtotl retn etf	$4,846,000	–	44,461	–	1.25%	–
IWM	New	ISHARESrussell 2000 etf	$4,518,000	–	38,026	–	1.16%	–
V	New	VISA INC	$3,838,000	–	18,214	–	0.99%	–
GLD	New	SPDR GOLD TRUST	$3,642,000	–	28,446	–	0.94%	–
BRKA	New	BERKSHIRE HATHAWAY INC DELcl a	$2,659,000	–	14	–	0.68%	–
MLPI	New	UBS AG JERSEY BRHalerian infrst	$2,476,000	–	55,548	–	0.64%	–
VWO	New	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$2,082,000	–	48,265	–	0.54%	–
CVX	New	CHEVRON CORP NEW	$1,906,000	–	14,600	–	0.49%	–
SLB	New	SCHLUMBERGER LTD	$1,769,000	–	15,000	–	0.46%	–
EWG	New	ISHARESmsci germany etf	$1,726,000	–	55,194	–	0.44%	–
PICB	New	POWERSHARES ETF TRUST IIintl corp bond	$636,000	–	20,750	–	0.16%	–
IJK	New	ISHARESs&p mc 400gr etf	$628,000	–	4,000	–	0.16%	–
DVYA	New	ISHARESasia/pac div etf	$475,000	–	8,153	–	0.12%	–
MRK	New	MERCK & CO INC NEW	$400,000	–	6,906	–	0.10%	–
SPY	New	SPDR S&P 500 ETF TRtr unit	$398,000	–	2,035	–	0.10%	–
QCOM	New	QUALCOMM INC	$385,000	–	4,860	–	0.10%	–
USB	New	US BANCORP DEL	$352,000	–	8,135	–	0.09%	–
PX	New	PRAXAIR INC	$353,000	–	2,655	–	0.09%	–
EWJ	New	ISHARESmsci japan etf	$349,000	–	28,950	–	0.09%	–
EWP	New	ISHARESmsci span cp etf	$347,000	–	8,100	–	0.09%	–
MUNI	New	PIMCO ETF TRinter mun bd st	$341,000	–	6,400	–	0.09%	–
OXY	New	OCCIDENTAL PETE CORP DEL	$342,000	–	3,330	–	0.09%	–
MCD	New	MCDONALDS CORP	$332,000	–	3,296	–	0.09%	–
EMC	New	E M C CORP MASS	$331,000	–	12,550	–	0.08%	–
HYEM	New	MARKET VECTORS ETF TRemkt hiyld bd	$313,000	–	11,835	–	0.08%	–
AMZN	New	AMAZON COM INC	$304,000	–	935	–	0.08%	–
SBUX	New	STARBUCKS CORP	$293,000	–	3,785	–	0.08%	–
STT	New	STATE STR CORP	$293,000	–	4,350	–	0.08%	–
HYG	New	ISHARESiboxx hi yd etf	$284,000	–	2,980	–	0.07%	–
CORP	New	PIMCO ETF TRinv grd crp bd	$264,000	–	2,560	–	0.07%	–
PG	New	PROCTER & GAMBLE CO	$261,000	–	3,320	–	0.07%	–
GOOGL	New	GOOGLE INCcl a	$243,000	–	416	–	0.06%	–
EZU	New	ISHARESemu etf	$243,000	–	5,750	–	0.06%	–
EWA	New	ISHARESmsci aust etf	$245,000	–	9,371	–	0.06%	–
ORCL	New	ORACLE CORP	$239,000	–	5,900	–	0.06%	–
PEP	New	PEPSICO INC	$234,000	–	2,619	–	0.06%	–
SDY	New	SPDR SERIES TRUSTs&p divid etf	$205,000	–	2,675	–	0.05%	–

Compare quarters

Export Pictet North America Advisors SA's holdings