Instuitional Investor - Vpr Management Llc

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	Vanguard Tax-Managed Intl Fd - FTSE DEV MKT ETF		525,600	$37,449,000	15.04%
2.	Ishares Trust	IAU	395,430	$29,858,919	11.99%
3.	Flexshares Trust	GUNR	497,600	$24,521,728	9.85%
4.	Ishares Inc	EWZ	311,800	$17,972,152	7.22%
5.	Vanguard Index Fds		45,200	$16,725,808	6.72%