Instuitional Investor - Cynosure Management, Llc

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	Ishares Tr		758,229	$76,416,298	11.48%
2.	Spdr S & P 500 Etf Trust	SPY	194,225	$70,071,820	10.53%
3.	Ishares Trust	IEF	497,234	$61,741,586	9.28%
4.	Ishares Tr		545,206	$60,163,476	9.04%
5.	Vanguard Scottsdale Funds	VCIT	232,626	$29,731,962	4.47%