EMERY HOWARD PORTFOLIO MANAGEMENT, INC. Information

400 SOUTH EL CAMINO REAL, SUITE 700, SAN MATEO, California, 94402, (650) 579-7100

Report Date: 12/31/2014

Position Statistics

Total Positions 28
New Positions 0
Increased Positions 24
Decreased Positions 3
Positions with Activity 27
Sold Out Positions 0
Total Mkt Value (in $ millions) 354

Institutional Holdings information is filed by major institutions on form 13-F with the Securities and Exchange Commission.

Sector Weighting

Basic Materials
Capital Goods
Conglomerates
Consumer Cyclical
Consumer/Non-Cyclical
Energy
Financial 98.77%
Healthcare
Services
Technology
Transportation
Utilities

28 Positions as of 12/31/2014

Company Class Value of Shares ($1,000s) ▼ Change in Value ($1,000s) Change (%) Shares Held
SPDR S&P 500 ETF TR TR UNIT 122,791 2,791 2.33 596,770
VANGUARD TAX MANAGED INTL FD FTSE DEV MKT ETF 56,779 3,427 6.42 1,398,163
VANGUARD INDEX FDS MID CAP ETF 31,018 601 1.98 243,566
VANGUARD INTL EQUITY INDEX FD FTSE EMR MKT ETF 20,463 2,424 13.44 508,786
ISHARES TR RUSSELL 2000 ETF 18,804 344 1.86 153,542
ISHARES TR CORE S&P500 ETF 15,915 1,440 9.95 76,815
VANGUARD INDEX FDS REIT ETF 15,904 733 4.83 188,901
SPDR INDEX SHS FDS DJ GLB RL ES ETF 12,756 2,342 22.49 254,720
ISHARES TR RUS 1000 ETF 9,541 82 .86 82,663
SCHWAB STRATEGIC TR INTL EQTY ETF 9,500 5,670 148.05 308,152
ISHARES TR MSCI EAFE ETF 7,048 85 1.22 107,537
SCHWAB STRATEGIC TR US MID-CAP ETF 5,376 1,790 49.89 126,178
BARCLAYS BK PLC DJUBS CMDT ETN36 4,359 -2,861 (39.63) 153,690
SCHWAB STRATEGIC TR EMRG MKTEQ ETF 4,292 3,167 281.40 178,171
ISHARES INTL DEV RE ETF 3,678 49 1.36 116,327
SCHWAB STRATEGIC TR US SML CAP ETF 2,837 1,265 80.50 49,951
VANGUARD SPECIALIZED PORTFOLIO DIV APP ETF 2,588 108 4.37 32,281
POWERSHARES QQQ TRUST UNIT SER 1 2,259 270 13.55 21,424
VANGUARD INDEX FDS SMALL CP ETF 1,570 22 1.41 13,023
ISHARES TR MSCI EMG MKT ETF 1,172 16 1.35 29,494