GMO Implementation Fund

Fund Holdings

Asset Allocation

% Long % Short % Net
Cash 15.41 0.05 15.36
Stocks 27.04 0.0 27.04
Bonds 15.71 0.0 15.71
Other 6.26 0.06 6.2
Foreign Bonds 0.06 0.0 0.06
Foreign Stocks 35.55 0.0 35.55
Convertible 0.0 0.0 0.0
Preferred 0.07 0.0 0.07

Updated 11.30.2013

Top 10 Holdings

Performance as of 02.28.2014

Portfolio as of 11.30.2013

Ticker YTD Return % % Net Assets
US Treasury Note 0.125% --- --- 7.63
US Treasury Bond 2.375% --- --- 4.38
US Treasury Note 1.125% --- --- 3.3
Microsoft Corporation MSFT 1.74 1.6
Google, Inc. Class A GOOG 7.32 1.55
Johnson & Johnson JNJ 0.69 1.54
Total SA TTFNF 3.95 1.37
Oracle Corporation ORCL 0.97 1.33
Procter & Gamble Co PG -4.09 1.25
Coca-Cola Co KO -7.72 1.24