Instuitional Investor - Kearns & Associates Llc

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	Vanguard Index Fds		176,416	$65,280,821	30.48%
2.	Vanguard Index Fds - S&P 500 ETF SHS		90,226	$61,968,418	28.93%
3.	Vanguard Tax-Managed Fds		328,694	$23,419,472	10.93%
4.	Vanguard Index Fds - SMALL CP ETF		39,367	$11,933,059	5.57%
5.	Vanguard Intl Equity Index Funds	VWO	125,038	$7,463,532	3.48%