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) 359

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 98.74%
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 125,716 2,858 2.33 596,770
VANGUARD TAX MANAGED INTL FD FTSE DEV MKT ETF 56,626 3,418 6.42 1,398,163
VANGUARD INDEX FDS MID CAP ETF 31,269 606 1.98 243,566
VANGUARD INTL EQUITY INDEX FD FTSE EMR MKT ETF 21,267 2,519 13.44 508,786
ISHARES TR RUSSELL 2000 ETF 18,821 344 1.86 153,542
ISHARES TR CORE S&P500 ETF 16,301 1,474 9.95 76,815
VANGUARD INDEX FDS REIT ETF 15,749 726 4.83 188,901
SPDR INDEX SHS FDS DJ GLB RL ES ETF 12,698 2,331 22.49 254,720
ISHARES TR RUS 1000 ETF 9,743 83 .86 82,663
SCHWAB STRATEGIC TR INTL EQTY ETF 9,439 5,634 148.05 308,152
ISHARES TR MSCI EAFE ETF 7,001 84 1.22 107,537
SCHWAB STRATEGIC TR US MID-CAP ETF 5,400 1,798 49.89 126,178
BARCLAYS BK PLC DJUBS CMDT ETN36 4,514 -2,963 (39.63) 153,690
SCHWAB STRATEGIC TR EMRG MKTEQ ETF 4,438 3,275 281.40 178,171
ISHARES INTL DEV RE ETF 3,706 50 1.36 116,327
SCHWAB STRATEGIC TR US SML CAP ETF 2,847 1,270 80.50 49,951
VANGUARD SPECIALIZED PORTFOLIO DIV APP ETF 2,673 112 4.37 32,281
POWERSHARES QQQ TRUST UNIT SER 1 2,322 277 13.55 21,424
VANGUARD INDEX FDS SMALL CP ETF 1,573 22 1.41 13,023
ISHARES TR MSCI EMG MKT ETF 1,202 16 1.35 29,494