Instuitional Investor - Tiff Advisory Services Inc

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	Vanguard Intl Equity Index Funds	VWO	614,236	$84,961,172	19.15%
2.	Sector Spdr Trust	XLE	1,559,062	$76,970,891	17.35%
3.	Vanguard Scottsdale Funds		749,145	$41,468,928	9.35%
4.	Invesco Exch Traded Fd Tr Ii - KBW BK ETF		522,543	$41,343,602	9.32%
5.	Apple Inc.	AAPL	139,696	$35,453,448	7.99%