Instuitional Investor - Kearns & Associates Llc

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	Vanguard Index Fds		173,616	$55,697,975	29.97%
2.	Vanguard Index Fds - S&P 500 ETF SHS		90,698	$54,196,850	29.16%
3.	Vanguard Tax-Managed Fds		325,021	$20,827,365	11.21%
4.	Vanguard Index Fds - SMALL CP ETF		39,066	$10,232,209	5.5%
5.	Vanguard Intl Equity Index Funds	VWO	115,386	$6,236,614	3.36%