Instuitional Investor - Grimes & Company, Inc.

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	Vanguard Index Fds - SMALL CP ETF		1,178,370	$357,187,392	7.73%
2.	Ishares Trust	HYG	3,677,104	$355,134,690	7.68%
3.	Ishares Inc - CORE MSCI EMKT		2,523,223	$209,023,758	4.52%
4.	Ishares Trust	IEF	258,792	$193,806,987	4.19%
5.	Sector Spdr Trust	XLE	925,282	$176,284,673	3.81%