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Instuitional Investor - Bernicke Wealth Management, Ltd.

Filing Period:
No. Security Ticker Shares Value (x$1000) % Port
Vanguard Scottsdale Fds
564,100 $49,297 37.2%
2. VWO 286,406 $21,269 16.05%
Spdr Series Trust
226,927 $8,333 6.28%
Powershares Exchange-Traded Fund Trust Ii
273,092 $8,067 6.08%
Ishares Tr
61,208 $6,778 5.11%