TOPS Moderate Growth ETF Portfolio

Fund Holdings

Asset Allocation

% Long % Short % Net
Cash 3.62 0.0 3.62
Stocks 40.87 0.0 40.87
Bonds 24.64 0.0 24.64
Other 0.75 0.0 0.75
Foreign Bonds 6.94 0.0 6.94
Foreign Stocks 23.03 0.0 23.03
Convertible 0.0 0.0 0.0
Preferred 0.16 0.0 0.16

Updated 12.31.2012

Top 10 Holdings

Performance as of 04.30.2013

Portfolio as of 12.31.2012

% Net Assets
Vanguard FTSE All-World ex-US ETF 11.95
iShares S&P 500 Growth Index 9.98
iShares Core S&P Mid-Cap ETF 9.94
iShares S&P 500 Value Index 8.0
iShares Core S&P Small-Cap ETF 7.96
iShares iBoxx $ Invest Grade Corp Bond 6.88
iShares Barclays TIPS Bond 6.88
iShares iBoxx $ High Yield Corporate Bd 4.94
FlexShares iBoxx 3Yr Target Dur TIPS ETF 3.94
SPDR Dow Jones Intl Real Estate 2.98

Bond Ratings (%)

Updated 12.31.2012

Sector
AAA 16.84
AA 30.86
A 14.85
BBB 12.49
BB 10.84
B 9.79
Below B 2.69
Other 1.65
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