Instuitional Investor - Spectrum Asset Management, Inc. (nb)

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	Wells Fargo & Company	WFC	414,694	$33,013,758	10.49%
2.	Vanguard Bd Index Fds - VANGUARD ULTRA		466,556	$23,227,492	7.38%
3.	Schwab Strategic Trust	FNDF	475,103	$14,490,657	4.6%
4.	Invesco Exchange Traded Fd T - S&P500 EQL WGT		74,837	$14,362,707	4.56%
5.	Ishares Trust	IAU	160,326	$14,134,341	4.49%