Instuitional Investor - Royal Fund Management, Llc

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	Vanguard Index Fds - S&P 500 ETF SHS		53,655	$27,807,217	3.09%
2.	Invesco Qqq Tr		54,779	$25,793,348	2.87%
3.	Spdr Dow Jones Ind Avg Etf Trust	DIA	47,670	$20,015,680	2.23%
4.	Sector Spdr Trust	XLB	397,248	$19,799,542	2.2%
5.	Ishares Trust	IEF	234,341	$19,387,031	2.16%