Innealta Capital Country Rotation Portfolio

Fund Holdings

Asset Allocation

% Long % Short % Net
Cash 12.27 0.04 12.23
Stocks 0.81 0.0 0.81
Bonds 41.38 0.0 41.38
Other 0.45 0.0 0.45
Foreign Bonds 20.54 0.75 19.79
Foreign Stocks 24.64 0.0 24.64
Convertible 0.0 0.0 0.0
Preferred 0.7 0.0 0.7

Updated 02.28.2014

Top 10 Holdings

Performance as of 06.30.2014

Portfolio as of 02.28.2014

% Net Assets
iShares Floating Rate Bond 15.59
Vanguard Short-Term Bond ETF 12.23
Vanguard Short-Term Corp Bd Idx ETF 7.35
PIMCO 0-5 Year High Yld Corp Bd Idx ETF 7.35
Vanguard Interm-Tm Corp Bd Idx ETF 7.34
iShares MBS 6.05
iShares MSCI South Korea Capped 5.03
iShares MSCI All Peru Capped 4.76
Market Vectors Russia ETF 4.63
iShares Emerging Markets High Yield Bond 4.5

Bond Ratings (%)

Updated 02.28.2014

Sector
AAA 18.69
AA 18.78
A 24.32
BBB 15.55
BB 11.11
B 6.09
Below B 2.15
Other 3.31