Instuitional Investor - Affiance Financial, Llc

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	Vanguard Index Fds - S&P 500 ETF SHS		194,643	$116,309,133	18.85%
2.	Ishares Trust	IEF	972,104	$96,500,832	15.64%
3.	Vanguard Index Fds		227,871	$73,103,412	11.85%
4.	Ishares Trust	VLUE	380,964	$34,488,720	5.59%
5.	Vanguard Tax-Managed Fds		522,437	$33,477,786	5.42%