0001138060-17-000004.txt : 20170214 0001138060-17-000004.hdr.sgml : 20170214 20170213175445 ACCESSION NUMBER: 0001138060-17-000004 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20161231 FILED AS OF DATE: 20170214 DATE AS OF CHANGE: 20170213 EFFECTIVENESS DATE: 20170214 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MADISON INVESTMENT HOLDINGS INC CENTRAL INDEX KEY: 0001138060 IRS NUMBER: 391194160 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-03477 FILM NUMBER: 17601159 BUSINESS ADDRESS: STREET 1: 550 SCIENCE DR CITY: MADISON STATE: WI ZIP: 53711 BUSINESS PHONE: 6082740300 MAIL ADDRESS: STREET 1: 550 SCIENCE DR CITY: MADISON STATE: WI ZIP: 53711 FORMER COMPANY: FORMER CONFORMED NAME: MADISON INVESTMENT ADVISORS INC DATE OF NAME CHANGE: 20010411 13F-HR 1 primary_doc.xml 13F-HR LIVE false false false 0001138060 XXXXXXXX 12-31-2016 12-31-2016 MADISON INVESTMENT HOLDINGS INC

550 SCIENCE DR MADISON WI 53711

13F HOLDINGS REPORT 028-03477 Y Madison Asset Management, LLC, Madison Investment Advisors, LLC and Madison Investment Holdings, Inc. share all resources and personnel at their 550 Science Drive office and, as such, no distinction is made among the three in the information table presented in this report. Due to rounding, certain dollar values may be higher or lower than the amounts would have been absent such rounding. William Luetzow 608-216-9178 William Luetzow Madison WI 02-13-2017 2 248 5161637 false 1 0001299351 028-10986 Madison Asset Management, LLC 2 0001507115 028-14137 Madison Investment Advisors, LLC INFORMATION TABLE 2 mihi13f4q2016informationta.xml INFORMATION TABLE 3M Company COM 88579Y101 21613 121032 SH SOLE 118552 0 2480 Abbott Laboratories COM 002824100 537 13973 SH SOLE 13973 0 0 AbbVie Inc COM 00287Y109 670 10705 SH SOLE 10705 0 0 Accenture PLC - Class A SHS CLASS A G1151C101 52158 445299 SH SOLE 423323 0 21976 Adient plc ORD SHS G0084W101 451 7704 SH SOLE 7704 0 0 Aflac Inc COM 001055102 12280 176435 SH SOLE 176435 0 0 Agilent Technologies Inc COM 00846U101 3695 81100 SH SOLE 81100 0 0 Allergan plc SHS G0177J108 12044 57352 SH SOLE 57352 0 0 Allstate Corp COM 020002101 208 2800 SH SOLE 2800 0 0 Alphabet Inc - Class A CAP STK CL A 02079K305 1717 2167 SH SOLE 2167 0 0 Alphabet Inc - Class C CAP STK CL C 02079K107 52324 67793 SH SOLE 65132 0 2661 Altria Group Inc. COM 02209S103 1548 22893 SH SOLE 22893 0 0 Amazon.com Inc COM 023135106 3236 4315 SH SOLE 4315 0 0 American Financial Group Inc. COM 025932104 661 7498 SH SOLE 7498 0 0 American International Group I COM NEW 026874784 17982 275327 SH SOLE 275327 0 0 American Tower Corp COM 03027X100 67955 643027 SH SOLE 617908 0 25119 Amgen Inc COM 031162100 21280 145544 SH SOLE 143069 0 2475 Amphenol Corp - Class A CL A 032095101 25906 385510 SH SOLE 374208 0 11302 Analog Devices Inc COM 032654105 787 10841 SH SOLE 10841 0 0 Apache Corporation COM 037411105 26092 411098 SH SOLE 411098 0 0 Apple Inc COM 037833100 32196 277985 SH SOLE 275420 0 2565 Arch Capital Group Ltd ORD G0450A105 35011 405737 SH SOLE 392865 0 12872 AT&T Inc COM 00206R102 1017 23917 SH SOLE 23917 0 0 Automatic Data Processing Inc COM 053015103 12862 125141 SH SOLE 122826 0 2315 Axalta Coating Systems Ltd COM G0750C108 34695 1275568 SH SOLE 1236594 0 38974 Baker Hughes Inc COM 057224107 27720 426665 SH SOLE 426665 0 0 Ball Corporation COM 058498106 8644 115142 SH SOLE 115142 0 0 Bank of America Corporation COM 060505104 16961 767460 SH SOLE 767460 0 0 Bank of New York Mellon Corpor COM 064058100 14180 299272 SH SOLE 299272 0 0 Baxter International Inc. COM 071813109 21580 486705 SH SOLE 486705 0 0 BB&T Corporation COM 054937107 14425 306781 SH SOLE 299586 0 7195 Becton, Dickinson and Company COM 075887109 4077 24630 SH SOLE 24630 0 0 Berkshire Hathaway Inc - Cl B CL B NEW 084670702 73151 448833 SH SOLE 426447 0 22386 Biogen Inc COM 09062X103 13307 46926 SH SOLE 46926 0 0 Boeing Company (The) COM 097023105 20126 129278 SH SOLE 126389 0 2889 BP PLC - Spons ADR SPONSORED ADR 055622104 341 9128 SH SOLE 9128 0 0 Bristol-Myers Squibb Co COM 110122108 291 4988 SH SOLE 4988 0 0 Brookfield Asset Management In CL A LTD VT SH 112585104 79952 2422057 SH SOLE 2331633 0 90424 Brown-Forman Corporation CL B 115637209 8768 195200 SH SOLE 187186 0 8014 Brown & Brown Inc. COM 115236101 43579 971438 SH SOLE 937255 0 34183 Canadian National Railway Co COM 136375102 1569 23280 SH SOLE 23280 0 0 CarMax Inc. COM 143130102 80745 1254000 SH SOLE 1211346 0 42654 Caterpillar Inc COM 149123101 25420 274101 SH SOLE 269346 0 4755 CBRE Group Inc CL A 12504L109 235 7450 SH SOLE 7450 0 0 CBS Corp - Cl B CL B 124857202 4513 70938 SH SOLE 70938 0 0 CDW Corp/DE COM 12514G108 71947 1381201 SH SOLE 1330375 0 50826 Celgene Corp COM 151020104 9233 79764 SH SOLE 79764 0 0 Cerner Corporation COM 156782104 6401 135135 SH SOLE 135135 0 0 Chevron Corporation COM 166764100 29994 254836 SH SOLE 250911 0 3925 Chubb Ltd COM H1467J104 11422 86449 SH SOLE 83802 0 2647 Cisco Systems Inc. COM 17275R102 32417 1072708 SH SOLE 1048824 0 23884 CME Group Inc/IL COM 12572Q105 16242 140806 SH SOLE 135781 0 5025 Coca-Cola Co COM 191216100 803 19357 SH SOLE 19357 0 0 Colgate-Palmolive Co COM 194162103 229 3492 SH SOLE 3492 0 0 ConocoPhillips COM 20825C104 414 8254 SH SOLE 8254 0 0 Copart Inc COM 217204106 64207 1158765 SH SOLE 1118690 0 40075 Costco Wholesale Corp COM 22160K105 9320 58212 SH SOLE 58212 0 0 Crown Castle International Cor COM 22822V101 21628 249251 SH SOLE 239463 0 9788 Crown Holdings Inc. COM 228368106 34296 652379 SH SOLE 630350 0 22029 CVS Health Corp COM 126650100 16780 212647 SH SOLE 212557 0 90 Danaher Corp COM 235851102 48211 619357 SH SOLE 579926 0 39431 DaVita Inc COM 23918K108 39899 621476 SH SOLE 599766 0 21710 Diageo PLC ADR SPON ADR NEW 25243Q205 50098 481992 SH SOLE 454042 0 27950 Digital Realty Trust Inc COM 253868103 14658 149180 SH SOLE 149180 0 0 Discovery Communications Inc - COM SER C 25470F302 80710 3013808 SH SOLE 2902027 0 111781 Discovery Communications Inc. COM SER A 25470F104 926 33800 SH SOLE 33800 0 0 Dollar General Corp COM 256677105 78781 1063596 SH SOLE 1022907 0 40689 Dollar Tree Inc. COM 256746108 206 2675 SH SOLE 2675 0 0 Dow Chemical Co COM 260543103 27692 483960 SH SOLE 483960 0 0 Duke Energy Corp COM NEW 26441C204 8474 109171 SH SOLE 105231 0 3940 Dupont (E.I.) de Nemours and C COM 263534109 298 4060 SH SOLE 4060 0 0 eBay Inc. COM 278642103 420 14154 SH SOLE 14154 0 0 Ecolab Inc. COM 278865100 1207 10293 SH SOLE 10293 0 0 Emerson Electric Co COM 291011104 7086 127098 SH SOLE 122813 0 4285 EOG Resources Inc. COM 26875P101 3291 32555 SH SOLE 32555 0 0 Expeditors International of Wa COM 302130109 40472 764203 SH SOLE 740829 0 23374 Express Scripts Holding Compan COM 30219G108 13425 195155 SH SOLE 195155 0 0 Exxon Mobil Corporation COM 30231G102 36465 404001 SH SOLE 396221 0 7780 Fastenal Co. COM 311900104 25474 542241 SH SOLE 520902 0 21339 FedEx Corp COM 31428X106 20634 110814 SH SOLE 110814 0 0 Fortive Corp COM 34959J108 10663 198820 SH SOLE 186054 0 12766 General Dynamics Corp COM 369550108 8834 51165 SH SOLE 51165 0 0 General Electric Company COM 369604103 18911 598443 SH SOLE 579353 0 19090 General Motors Co COM 37045V100 21352 612845 SH SOLE 612845 0 0 Gilead Sciences Inc. COM 375558103 16693 233105 SH SOLE 233105 0 0 Glacier Bancorp Inc COM 37637Q105 17953 495526 SH SOLE 477640 0 17886 HCA Holdings Inc COM 40412C101 5690 76869 SH SOLE 76869 0 0 Home Depot Inc. COM 437076102 24889 185630 SH SOLE 182144 0 3486 Honeywell International Inc. COM 438516106 508 4383 SH SOLE 4383 0 0 IHS Markit Ltd SHS G47567105 30569 863297 SH SOLE 836140 0 27157 Intel Corporation COM 458140100 8519 234885 SH SOLE 234885 0 0 International Business Machine COM 459200101 235 1413 SH SOLE 1383 0 30 Invesco Ltd SHS G491BT108 424 13991 SH SOLE 13991 0 0 Jacobs Engineering Group Inc COM 469814107 54604 957973 SH SOLE 915847 0 42126 JM Smucker Company (The) COM NEW 832696405 65540 511788 SH SOLE 486630 0 25158 Johnson & Johnson COM 478160104 80584 699449 SH SOLE 664277 0 35172 Johnson Controls International SHS G51502105 3174 77051 SH SOLE 77051 0 0 JPMorgan Chase & Co. COM 46625H100 30704 355821 SH SOLE 355821 0 0 Kroger Co. (The) COM 501044101 468 13560 SH SOLE 13560 0 0 Laboratory Corp of America Hol COM NEW 50540R409 34945 272201 SH SOLE 263218 0 8983 Liberty Broadband Corporation COM SER C 530307305 44569 601718 SH SOLE 582778 0 18940 Liberty Global plc -Series C SHS CL C G5480U120 41443 1395389 SH SOLE 1349952 0 45437 Linear Technology Corp COM 535678106 789 12661 SH SOLE 12661 0 0 Lockheed Martin Corp COM 539830109 1212 4850 SH SOLE 4850 0 0 Lowe's Cos Inc COM 548661107 1223 17193 SH SOLE 17193 0 0 M&T Bank Corp COM 55261F104 27771 177527 SH SOLE 172281 0 5246 Marathon Petroleum Corp COM 56585A102 17737 352265 SH SOLE 352265 0 0 Markel Corporation COM 570535104 81304 89888 SH SOLE 86989 0 2899 McDonald's Corporation COM 580135101 19866 163207 SH SOLE 159985 0 3222 McKesson Corporation COM 58155Q103 4635 33001 SH SOLE 33001 0 0 Medtronic PLC SHS G5960L103 10620 149092 SH SOLE 144112 0 4980 Merck & Co Inc COM 58933Y105 13952 236990 SH SOLE 229370 0 7620 Microsoft Corporation COM 594918104 59267 953762 SH SOLE 941757 0 12005 Mondelez International Inc. - CL A 609207105 306 6900 SH SOLE 6900 0 0 Monsanto Co COM 61166W101 7463 70933 SH SOLE 68388 0 2545 Morgan Stanley COM NEW 617446448 752 17800 SH SOLE 17800 0 0 Nasdaq Inc COM 631103108 11491 171207 SH SOLE 171207 0 0 National Oilwell Varco Inc COM 637071101 6690 178690 SH SOLE 178690 0 0 NextEra Energy Inc. COM 65339F101 15225 127446 SH SOLE 124161 0 3285 NIKE Inc. - Class B CL B 654106103 203 4000 SH SOLE 4000 0 0 Nordstrom Inc. COM 655664100 1646 34335 SH SOLE 34335 0 0 Northern Trust Corp COM 665859104 15635 175573 SH SOLE 172333 0 3240 Novartis AG ADR SPONSORED ADR 66987V109 27915 383241 SH SOLE 352201 0 31040 Nuance Communications Inc COM 67020Y100 2427 162900 SH SOLE 162900 0 0 Nucor Corp COM 670346105 7152 120160 SH SOLE 120160 0 0 Occidental Petroleum Corp COM 674599105 18412 258485 SH SOLE 258485 0 0 Oceaneering International Inc COM 675232102 10298 365031 SH SOLE 349483 0 15548 Omnicom Group Inc. COM 681919106 53936 633725 SH SOLE 613409 0 20316 Oracle Corporation COM 68389X105 54330 1413012 SH SOLE 1350733 0 62279 PACCAR Inc. COM 693718108 30046 470207 SH SOLE 447721 0 22486 PayPal Holdings Inc COM 70450Y103 10880 275656 SH SOLE 275656 0 0 PepsiCo Inc. COM 713448108 17270 165057 SH SOLE 161392 0 3665 Pfizer Inc. COM 717081103 25559 786922 SH SOLE 767132 0 19790 PG&E Corp. COM 69331C108 11572 190425 SH SOLE 190425 0 0 Philip Morris International In COM 718172109 1215 13276 SH SOLE 13276 0 0 PNC Financial Services Group I COM 693475105 29247 250057 SH SOLE 244862 0 5195 PPG Industries Inc. COM 693506107 40242 424676 SH SOLE 393720 0 30956 Praxair Inc COM 74005P104 14749 125856 SH SOLE 122564 0 3292 Procter & Gamble Company (The) COM 742718109 17840 212174 SH SOLE 206069 0 6105 Progressive Corp. COM 743315103 8708 245295 SH SOLE 245295 0 0 QUALCOMM Inc. COM 747525103 12337 189220 SH SOLE 189220 0 0 Range Resources Corporation COM 75281A109 7126 207400 SH SOLE 207400 0 0 Reinsurance Group of America I COM NEW 759351604 244 1940 SH SOLE 1940 0 0 Republic Services Inc. COM 760759100 11815 207103 SH SOLE 207103 0 0 Reynolds American Inc. COM 761713106 258 4600 SH SOLE 4600 0 0 RLI Corp COM 749607107 808 12793 SH SOLE 12793 0 0 Ross Stores Inc COM 778296103 44131 672729 SH SOLE 651640 0 21089 S&P Global Inc COM 78409V104 3217 29917 SH SOLE 29917 0 0 Sally Beauty Holdings Inc. COM 79546E104 44186 1672430 SH SOLE 1612422 0 60008 Schlumberger Ltd COM 806857108 43541 518660 SH SOLE 499882 0 18778 Starbucks Corp COM 855244109 8657 155918 SH SOLE 155918 0 0 State Street Corp COM 857477103 5192 66800 SH SOLE 66800 0 0 Stryker Corporation COM 863667101 712 5943 SH SOLE 5943 0 0 T-Mobile US Inc COM 872590104 27531 478715 SH SOLE 478715 0 0 T Rowe Price Group Inc. COM 74144T108 13824 183680 SH SOLE 183610 0 70 TE Connectivity Ltd REG SHS H84989104 63254 913026 SH SOLE 877305 0 35721 Texas Instruments Inc COM 882508104 14902 204226 SH SOLE 197126 0 7100 Thermo Fisher Scientific Inc. COM 883556102 4239 30039 SH SOLE 30039 0 0 Tiffany & Co. COM 886547108 15985 206446 SH SOLE 200095 0 6351 TJX Cos Inc COM 872540109 36425 484828 SH SOLE 458307 0 26521 Travelers Cos Inc COM 89417E109 14137 115481 SH SOLE 111481 0 4000 U.S. Bancorp COM NEW 902973304 92976 1809927 SH SOLE 1726958 0 82969 UGI Corp COM 902681105 207 4500 SH SOLE 4500 0 0 Union Pacific Corp COM 907818108 12025 115978 SH SOLE 112943 0 3035 United Parcel Service Inc - Cl CL B 911312106 25869 225651 SH SOLE 221036 0 4615 United Technologies Corp COM 913017109 28064 256008 SH SOLE 250603 0 5405 Varian Medical Systems Inc COM 92220P105 36596 407620 SH SOLE 380092 0 27528 Verizon Communications Inc COM 92343V104 24264 454560 SH SOLE 443045 0 11515 Visa Inc - Class A COM CL A 92826C839 42092 539507 SH SOLE 516323 0 23184 W.R. Berkley Corporation COM 084423102 36049 542009 SH SOLE 523836 0 18173 Walt Disney Company (The) COM DISNEY 254687106 14028 134596 SH SOLE 134596 0 0 Waste Management Inc COM 94106L109 344 4855 SH SOLE 4855 0 0 Wells Fargo & Co COM 949746101 13067 237102 SH SOLE 231877 0 5225 Weyerhaeuser Co COM 962166104 5544 184240 SH SOLE 184240 0 0 World Fuel Services Corp COM 981475106 31312 682032 SH SOLE 660525 0 21507 WW Grainger Inc COM 384802104 7521 32384 SH SOLE 32339 0 45 Xilinx Inc COM 983919101 9327 154491 SH SOLE 149891 0 4600 Zoetis Inc CL A 98978V103 1028 19200 SH SOLE 19200 0 0 Energy Select Sector SPDR Fund SBI INT-ENERGY 81369Y506 9823 130413 SH SOLE 130413 0 0 Guggenheim BulletShares 2017 C GUGG CRP BD 2017 18383M548 3325 147061 SH SOLE 147061 0 0 Guggenheim BulletShares 2018 C GUG BULL2018 E 18383M530 2128 100491 SH SOLE 100491 0 0 Guggenheim BulletShares 2019 C GUG BULL2019 E 18383M522 1548 73228 SH SOLE 73228 0 0 Guggenheim BulletShares 2020 C GUG BULL2020 E 18383M514 929 43819 SH SOLE 43819 0 0 Guggenheim S&P 500 Equal Weigh GUG S&P500 EQ WT 78355W106 8333 96182 SH SOLE 96182 0 0 Industrial Select Sector SPDR SBI INT-INDS 81369Y704 7220 116041 SH SOLE 116041 0 0 iShares 20 Year Treasury Bond 20 YR TR BD ETF 464287432 12731 106863 SH SOLE 106863 0 0 iShares 3-7 Year Treasury Bond 3-7 YR TR BD ETF 464288661 29335 239452 SH SOLE 239452 0 0 iShares 7-10 Year Treasury Bon 7-10 Y TR BD ETF 464287440 153293 1462437 SH SOLE 1462437 0 0 iShares Core MSCI EAFE ETF CORE MSCI EAFE 46432F842 19835 369858 SH SOLE 369858 0 0 iShares Core MSCI Emerging Mar CORE MSCI EMKT 46434G103 691 16287 SH SOLE 16287 0 0 iShares Core S&P 500 ETF CORE S&P500 ETF 464287200 57430 255258 SH SOLE 255258 0 0 iShares Core S&P Mid-Cap ETF CORE S&P MCP ETF 464287507 128474 777029 SH SOLE 773779 0 3250 iShares Core S&P Small-Cap ETF CORE S&P SCP ETF 464287804 39420 286650 SH SOLE 284656 0 1994 iShares Edge MSCI Min Vol EAFE MIN VOL EAFE ETF 46429B689 19059 311312 SH SOLE 308274 0 3038 iShares Edge MSCI Min Vol Emer MIN VOL EMRG MKT 464286533 2462 50347 SH SOLE 50347 0 0 iShares Intermediate Credit Bo INTERM CR BD ETF 464288638 8747 80848 SH SOLE 80848 0 0 iShares MSCI Canada ETF MSCI CDA ETF 464286509 5010 191596 SH SOLE 191596 0 0 iShares MSCI EAFE ETF MSCI EAFE ETF 464287465 1178 20411 SH SOLE 17144 0 3267 iShares MSCI United Kingdom ET MSCI UK ETF NEW 46435G334 12023 391772 SH SOLE 391772 0 0 iShares Russell 1000 Growth ET RUS 1000 GRW ETF 464287614 505 4810 SH SOLE 4810 0 0 iShares Russell 1000 Value ETF RUS 1000 VAL ETF 464287598 688 6142 SH SOLE 6142 0 0 iShares Russell 2000 Growth ET RUS 2000 GRW ETF 464287648 304 1973 SH SOLE 1973 0 0 iShares Russell 2000 Value ETF RUS 2000 VAL ETF 464287630 385 3236 SH SOLE 3236 0 0 iShares Russell Mid-Cap Growth RUS MD CP GR ETF 464287481 357 3667 SH SOLE 3667 0 0 iShares TIPS Bond ETF TIPS BD ETF 464287176 83392 736876 SH SOLE 736876 0 0 Oppenheimer Large Cap Revenue LARGE CAP REV ET 68386C104 4378 100774 SH SOLE 100774 0 0 Oppenheimer Mid Cap Revenue ET MID CAP REV ETF 68386C203 4741 87655 SH SOLE 87655 0 0 Oppenheimer Small Cap Revenue SMALL CAP REV ET 68386C302 2365 35237 SH SOLE 35237 0 0 PowerShares Buyback Achievers DYNA BUYBK ACH 73935X286 41110 814702 SH SOLE 814702 0 0 PowerShares DB Gold Fund DB GOLD FUND 73936B606 4885 131924 SH SOLE 131924 0 0 PowerShares FTSE RAFI Develope DEV MKTS EX-US 73936T789 3026 80573 SH SOLE 80573 0 0 PowerShares FTSE RAFI US 1000 FTSE RAFI 1000 73935X583 7935 79706 SH SOLE 79706 0 0 PowerShares FTSE RAFI US 1500 FTSE US 1500 SM 73935X567 3747 32504 SH SOLE 32504 0 0 PowerShares Senior Loan Portfo SENIOR LN PORT 73936Q769 35354 1513429 SH SOLE 1513429 0 0 Schwab Fundamental U.S. Large SCHWAB FDT US LG 808524771 2401 73570 SH SOLE 73570 0 0 Schwab US Dividend Equity ETF US DIVIDEND EQ 808524797 29068 667156 SH SOLE 667156 0 0 Schwab US Large-Cap ETF US LRG CAP ETF 808524201 520 9757 SH SOLE 9757 0 0 SPDR Gold Shares GOLD SHS 78463V107 21118 192662 SH SOLE 192662 0 0 SPDR S&P Dividend ETF S&P DIVID ETF 78464A763 11238 131350 SH SOLE 127850 0 3500 SPDR S&P Emerging Asia Pacific ASIA PACIF ETF 78463X301 1047 13938 SH SOLE 13938 0 0 SPDR S&P Homebuilders ETF S&P HOMEBUILD 78464A888 2017 59581 SH SOLE 59581 0 0 SPDR S&P MidCap 400 ETF Trust UTSER1 S&PCRP 78467Y107 5571 18462 SH SOLE 18462 0 0 SPDR S&P Regional Banking ETF S&P REGL BKG 78464A698 23816 428571 SH SOLE 428571 0 0 SPDR S&P500 ETF Trust TR UNIT 78462F103 74909 335118 SH SOLE 331118 0 4000 VanEck Vectors Agribusiness ET AGRIBUSINESS ETF 92189F700 3420 66622 SH SOLE 66622 0 0 Vanguard Dividend Appreciation DIV APP ETF 921908844 1244 14602 SH SOLE 14602 0 0 Vanguard FTSE All-World ex-US ALLWRLD EX US 922042775 128349 2905148 SH SOLE 2903173 0 1975 Vanguard FTSE All World ex-US FTSE SMCAP ETF 922042718 578 6152 SH SOLE 6152 0 0 Vanguard FTSE Emerging Markets FTSE EMR MKT ETF 922042858 3629 101429 SH SOLE 101429 0 0 Vanguard FTSE Europe ETF FTSE EUROPE ETF 922042874 7291 152090 SH SOLE 152090 0 0 Vanguard Growth ETF GROWTH ETF 922908736 102264 917334 SH SOLE 917334 0 0 Vanguard Health Care ETF HEALTH CAR ETF 92204A504 19824 156378 SH SOLE 156378 0 0 Vanguard Information Technolog INF TECH ETF 92204A702 48425 398562 SH SOLE 398562 0 0 Vanguard Int-Term Corp Bond Fu INT-TERM CORP 92206C870 13469 157170 SH SOLE 157170 0 0 Vanguard Large-Cap ETF LARGE CAP ETF 922908637 30797 300839 SH SOLE 300839 0 0 Vanguard Long-Term Corporate B LG-TERM COR BD 92206C813 12130 135760 SH SOLE 135760 0 0 Vanguard Mid-Cap ETF MID CAP ETF 922908629 1010 7671 SH SOLE 7669 0 2 Vanguard REIT ETF REIT ETF 922908553 293 3551 SH SOLE 3551 0 0 Vanguard S&P 500 ETF S&P 500 ETF SHS 922908363 805 3921 SH SOLE 3921 0 0 Vanguard Short-Term Bond ETF SHORT TRM BOND 921937827 17477 219975 SH SOLE 219975 0 0 Vanguard Short-Term Corporate SHRT TRM CORP BD 92206C409 42413 534376 SH SOLE 534376 0 0 Vanguard Short-Term Inflation- STRM INFPROIDX 922020805 7701 156646 SH SOLE 156646 0 0 Vanguard Total Bond Market ETF TOTAL BND MRKT 921937835 70622 874144 SH SOLE 874144 0 0 Vanguard Total Stock Market ET TOTAL STK MKT 922908769 7486 64914 SH SOLE 64914 0 0 Vanguard Value ETF VALUE ETF 922908744 15267 164148 SH SOLE 164148 0 0 WisdomTree Emerging Markets Sm EMG MKTS SMCAP 97717W281 532 13591 SH SOLE 13591 0 0 WisdomTree Europe Hedged Equit EUROPE HEDGED EQ 97717X701 34574 602338 SH SOLE 602338 0 0 WisdomTree Japan Hedged Equity JAPN HEDGE EQT 97717W851 28207 569370 SH SOLE 569370 0 0