Instuitional Investor - Vision Capital Management, Inc.

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	Ishares Trust	IEF	124,098	$77,052,368	10.12%
2.	Vanguard Tax-Managed Fds		1,148,795	$65,492,781	8.61%
3.	Apple Inc.	AAPL	234,529	$48,118,242	6.32%
4.	Ishares Trust	IEF	382,609	$41,815,318	5.49%
5.	Microsoft Corp	MSFT	59,747	$29,718,997	3.91%