WINDHAVEN INVESTMENT MANAGEMENT, INC. Information

ONE INTERNATIONAL PLACE, BOSTON, Massachusetts, 02110, (617) 960-5300

Report Date: 09/30/2014

Position Statistics

Total Positions 45
New Positions 2
Increased Positions 4
Decreased Positions 41
Positions with Activity 45
Sold Out Positions 4
Total Mkt Value (in $ millions) 17,576

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 100%
Healthcare
Services
Technology
Transportation
Utilities

45 Positions as of 09/30/2014

Company Class Value of Shares ($1,000s) ▼ Change in Value ($1,000s) Change (%) Shares Held
POWERSHARES QQQ TRUST UNIT SER 1 1,900,115 546,704 40.40 18,224,774
VANGUARD BD INDEX FD INC TOTAL BND MRKT 1,352,611 -44,487 (3.18) 16,154,436
VANGUARD SPECIALIZED PORTFOLIO DIV APP ETF 1,350,517 -56,876 (4.04) 16,683,350
SPDR S&P 500 ETF TR TR UNIT 1,215,106 -55,863 (4.4) 5,928,212
VANGUARD INDEX FDS REIT ETF 1,085,050 -42,623 (3.78) 12,346,947
SPDR SERIES TRUST BARC SHT TR CP 965,832 -24,619 (2.49) 31,491,090
VANGUARD INTL EQUITY INDEX FD GLB EX US ETF 848,732 545,780 180.15 15,189,826
VANGUARD INDEX FDS TOTAL STK MKT 823,836 -36,313 (4.22) 7,790,411
ISHARES GOLD TRUST ISHARES 687,378 -24,128 (3.39) 54,902,408
VANGUARD TAX MANAGED INTL FD FTSE DEV MKT ETF 602,797 -27,286 (4.33) 15,767,649
POWERSHARES ETF TR II S&P500 LOW VOL 585,597 -29,259 (4.76) 15,163,056
ISHARES TR RUSSELL 2000 ETF 583,502 -26,267 (4.31) 4,939,909
ISHARES TR 7-10 Y TR BD ETF 572,959 -22,370 (3.76) 5,244,953
ISHARES MSCI GERMANY ETF 557,987 -487,003 (46.6) 20,100,393
ISHARES MSCI HONG KG ETF 557,809 557,809 New 25,872,388
ISHARES TR MSCI UTD KNGDM 503,867 -22,594 (4.29) 27,685,012
POWERSHARES DB CMDTY IDX TRACK UNIT BEN INT 463,830 -16,296 (3.39) 26,826,508
ISHARES TR A RATE CP BD ETF 393,386 -13,993 (3.44) 7,451,908
ISHARES TR TIPS BD ETF 371,526 -13,634 (3.54) 3,249,874
PIMCO ETF TR 0-5 HIGH YIELD 367,438 -566,948 (60.68) 3,632,608