TOPS® Balanced ETF Portfolio

Fund Holdings

Asset Allocation

% Long % Short % Net
Cash 3.85 0.0 3.85
Stocks 31.34 0.0 31.34
Bonds 36.67 0.0 36.67
Other 0.68 0.0 0.68
Foreign Bonds 8.59 0.0 8.59
Foreign Stocks 18.58 0.0 18.58
Convertible 0.0 0.0 0.0
Preferred 0.3 0.0 0.3

Updated 09.30.2013

Top 10 Holdings

Performance as of 02.28.2014

Portfolio as of 09.30.2013

% Net Assets
iShares S&P 500 Value 8.87
FlexShares iBoxx 3Yr Target Dur TIPS ETF 8.71
Vanguard FTSE All-World ex-US ETF 8.24
PIMCO 1-5 Year US TIPS Index ETF 7.77
iShares S&P 500 Growth 7.01
iShares 3-7 Year Treasury Bond 6.85
iShares iBoxx $ Invst Grade Crp Bond 6.83
iShares Core S&P Mid-Cap 6.03
iShares iBoxx $ High Yield Corporate Bd 4.88
iShares Core S&P Small-Cap 4.08

Bond Ratings (%)

Updated 09.30.2013

Sector
AAA 43.81
AA 7.69
A 16.72
BBB 14.09
BB 7.08
B 7.2
Below B 1.75
Other 1.65

Conservative Allocations

Highest Returns (10-year)

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