Instuitional Investor - Cynosure Management, Llc

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	Ishares Tr		621,184	$62,534,616	8.62%
2.	Ishares Tr		559,842	$61,840,129	8.52%
3.	Spdr S & P 500 Etf Trust	SPY	98,002	$54,821,301	7.55%
4.	Ishares Trust	IEF	130,203	$47,015,116	6.48%
5.	Vanguard Index Fds - S&P 500 ETF SHS		56,875	$29,228,583	4.03%