0001299351-21-000003.txt : 20210212 0001299351-21-000003.hdr.sgml : 20210212 20210212141508 ACCESSION NUMBER: 0001299351-21-000003 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20201231 FILED AS OF DATE: 20210212 DATE AS OF CHANGE: 20210212 EFFECTIVENESS DATE: 20210212 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Madison Asset Management, LLC CENTRAL INDEX KEY: 0001299351 IRS NUMBER: 870698416 STATE OF INCORPORATION: WI FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-10986 FILM NUMBER: 21625611 BUSINESS ADDRESS: STREET 1: 550 SCIENCE DRIVE CITY: MADISON STATE: WI ZIP: 53711 BUSINESS PHONE: 608-274-0300 MAIL ADDRESS: STREET 1: 550 SCIENCE DRIVE CITY: MADISON STATE: WI ZIP: 53711 13F-HR 1 primary_doc.xml 13F-HR LIVE false false false 0001299351 XXXXXXXX 12-31-2020 12-31-2020 Madison Asset Management, LLC
550 Science Drive Madison WI 53711
13F HOLDINGS REPORT 028-10986 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 such, no distinction is made among the three in the information table presented in the report. Due to rounding, certain dollar values may be higher or lower than the amounts would have been absent such rounding.
Trey D. Edgerle Senior Mutual Fund Compliance Officer 608-216-9193 Trey D. Edgerle Madison WI 02-12-2021 0 297 6804279 false
INFORMATION TABLE 2 information_table.xml INFORMATION TABLE 3M Co COM 88579Y101 32416 185455 SH SOLE 185315 0 140 Abbott Laboratories COM 002824100 288 2629 SH SOLE 2629 0 0 AbbVie Inc COM 00287Y109 1029 9605 SH SOLE 9605 0 0 Accenture PLC COM G1151C101 71009 271846 SH SOLE 264894 0 6952 Adobe Inc COM 00724F101 45517 91013 SH SOLE 88577 0 2436 Alcoa Corp COM 013872106 7242 314200 SH SOLE 314200 0 0 Alcon Inc ORD SHS H01301128 56054 849568 SH SOLE 825535 0 24033 Alexion Pharmaceuticals Inc COM 015351109 463 2965 SH SOLE 2965 0 0 Alibaba Group Holding Ltd - Sp SPONSORED ADS 01609W102 6206 26667 SH SOLE 26412 0 255 Alliant Energy Corp COM 018802108 387 7513 SH SOLE 7513 0 0 Allstate Corp COM 020002101 308 2800 SH SOLE 2800 0 0 Alphabet Inc - Class C COM 02079K107 96494 55080 SH SOLE 53675 0 1405 Alphabet Inc - Class A CAP STK CL C 02079K305 678 387 SH SOLE 387 0 0 Altria Group Inc CAP STK CL A 02209S103 461 11244 SH SOLE 11244 0 0 Amazon.com Inc COM 023135106 7817 2400 SH SOLE 2400 0 0 American Express Co COM 025816109 585 4839 SH SOLE 4839 0 0 American Tower Corp COM 03027X100 45228 201496 SH SOLE 196198 0 5298 AmerisourceBergen Corp COM 03073E105 13546 138560 SH SOLE 138560 0 0 Amgen Inc COM 031162100 22338 97154 SH SOLE 97079 0 75 Amphenol Corp CL A 032095101 52883 404395 SH SOLE 390832 0 13563 Analog Devices Inc COM 032654105 114606 775782 SH SOLE 760546 0 15236 Apache Corp COM 037411105 2099 147900 SH SOLE 147900 0 0 Apple Inc COM 037833100 22119 166696 SH SOLE 165404 0 1292 Arch Capital Group Ltd COM G0450A105 131598 3648407 SH SOLE 3538165 0 110242 Archer-Daniels-Midland Co COM 039483102 6906 137000 SH SOLE 137000 0 0 Arista Networks Inc COM 040413106 59645 205268 SH SOLE 198336 0 6932 Armstrong World Industries Inc COM 04247X102 34275 460748 SH SOLE 446467 0 14281 Artisan Partners Asset Managem CL A 04316A108 357 7085 SH SOLE 7085 0 0 ASML Holding NV - NY Reg Shrs N Y REGISTRY SHS N07059210 5811 11914 SH SOLE 11797 0 117 AstraZeneca PLC - Spons ADR SPONSORED ADR 046353108 3882 77664 SH SOLE 76635 0 1029 AT&T Inc COM 00206R102 713 24802 SH SOLE 24802 0 0 Automatic Data Processing Inc COM 053015103 19270 109362 SH SOLE 108960 0 402 Avanos Medical Inc COM 05350V106 5602 122098 SH SOLE 122098 0 0 Axis Capital Holdings Ltd SHS G0692U109 5098 101175 SH SOLE 101175 0 0 Baker Hughes Co CL A 05722G100 4950 237400 SH SOLE 237400 0 0 Bank of America Corp COM 060505104 6166 203440 SH SOLE 203440 0 0 Barrick Gold Corp COM 067901108 11754 516000 SH SOLE 516000 0 0 Baxter International Inc COM 071813109 5135 64000 SH SOLE 64000 0 0 Beacon Roofing Supply Inc COM 073685109 4392 109288 SH SOLE 109288 0 0 Becton Dickinson and Co COM 075887109 92978 371584 SH SOLE 361082 0 10502 Bed Bath & Beyond Inc COM 075896100 3339 188010 SH SOLE 188010 0 0 Berkshire Hathaway Inc CL B 084670702 90040 388323 SH SOLE 378538 0 9785 BlackRock Inc COM 09247X101 57062 79083 SH SOLE 78836 0 247 Boston Beer Co Inc/The CL A 100557107 3609 3630 SH SOLE 3630 0 0 Box Inc CL A 10316T104 5132 284341 SH SOLE 284341 0 0 Bristol-Myers Squibb Co COM 110122108 45820 738671 SH SOLE 736106 0 2565 Brookfield Asset Management In CL A LTD VT SH 112585104 105763 2562699 SH SOLE 2482278 0 80421 Brown-Forman Corp CL B 115637209 23403 294640 SH SOLE 284820 0 9820 Brown & Brown Inc COM 115236101 66874 1410543 SH SOLE 1363399 0 47144 Brunswick Corp/DE COM 117043109 5624 73771 SH SOLE 73771 0 0 Cameco Corp COM 13321L108 3318 247632 SH SOLE 245243 0 2389 Canadian Natural Resources Ltd COM 136385101 4538 188700 SH SOLE 188700 0 0 Canadian Pacific Railway Ltd COM 13645T100 5027 14500 SH SOLE 14346 0 154 Cardiovascular Systems Inc COM 141619106 3322 75911 SH SOLE 75911 0 0 Carlisle Cos Inc COM 142339100 70500 451403 SH SOLE 437198 0 14205 CarMax Inc COM 143130102 58152 615624 SH SOLE 595086 0 20538 Castle Biosciences Inc COM 14843C105 1343 20000 SH SOLE 20000 0 0 Catalent Inc COM 148806102 4484 43082 SH SOLE 43082 0 0 Caterpillar Inc COM 149123101 40647 223313 SH SOLE 223123 0 190 CBRE Group Inc CL A 12504L109 336 5362 SH SOLE 5362 0 0 CDW Corp/DE COM 12514G108 50710 384778 SH SOLE 371927 0 12851 Ciena Corp COM 171779309 3404 64413 SH SOLE 64413 0 0 Cisco Systems Inc COM 17275R102 44846 1002143 SH SOLE 999940 0 2203 Clarivate PLC ORD SHS G21810109 27859 937698 SH SOLE 905950 0 31748 CME Group Inc COM 12572Q105 22787 125167 SH SOLE 125061 0 106 Coca-Cola Co COM 191216100 19573 356916 SH SOLE 356586 0 330 Cogent Communications Holdings COM 19239V302 2828 47238 SH SOLE 47238 0 0 Cognizant Technology Solutions CL A 192446102 73496 896842 SH SOLE 870611 0 26231 Colgate-Palmolive Co COM 194162103 15056 176071 SH SOLE 175921 0 150 Comcast Corp CL A 20030N101 58033 1107498 SH SOLE 1105030 0 2468 CommVault Systems Inc COM 204166102 10880 196493 SH SOLE 196493 0 0 Copart Inc COM 217204106 123438 970045 SH SOLE 939746 0 30299 Costco Wholesale Corp COM 22160K105 10037 26638 SH SOLE 26160 0 478 Covetrus Inc COM 22304C100 8078 281083 SH SOLE 281083 0 0 Crane Co COM 224399105 5614 72287 SH SOLE 72287 0 0 Credit Suisse Group AG - Spons SPONSORED ADR 225401108 4298 335810 SH SOLE 331110 0 4700 CVS Health Corp COM 126650100 8222 120380 SH SOLE 120380 0 0 CyberArk Software Ltd SHS M2682V108 3782 23405 SH SOLE 23174 0 231 Danaher Corp COM 235851102 56078 252446 SH SOLE 245981 0 6465 Diageo PLC - Spons ADR SPON ADR 25243Q205 5338 33614 SH SOLE 33129 0 485 Discovery Inc COM SER A 25470F302 6838 261100 SH SOLE 261100 0 0 Dollar General Corp COM 256677105 214 1018 SH SOLE 1018 0 0 Dollar Tree Inc COM 256746108 151936 1406293 SH SOLE 1361535 0 44758 Dominion Energy Inc COM 25746U109 26490 352264 SH SOLE 351999 0 265 Dow Inc COM 260557103 846 15242 SH SOLE 15242 0 0 Duke Energy Corp COM 26441C204 802 8754 SH SOLE 8754 0 0 Ecolab Inc COM 278865100 4973 22985 SH SOLE 22615 0 370 Edgewell Personal Care Co COM 28035Q102 6740 194914 SH SOLE 194914 0 0 Eli Lilly & Co COM 532457108 9542 56515 SH SOLE 55769 0 746 Emerson Electric Co COM 291011104 37118 461836 SH SOLE 461386 0 450 Encompass Health Corp COM 29261A100 6073 73448 SH SOLE 73448 0 0 EnerSys COM 29275Y102 5495 66153 SH SOLE 66153 0 0 Entegris Inc COM 29362U104 7149 74390 SH SOLE 74390 0 0 Entergy Corp COM 29364G103 4433 44400 SH SOLE 44400 0 0 EOG Resources Inc COM 26875P101 3092 62000 SH SOLE 62000 0 0 Estee Lauder Cos Inc/The CL A 518439104 3459 12994 SH SOLE 12779 0 215 Expeditors International of Wa COM 302130109 34406 361753 SH SOLE 349792 0 11961 Facebook Inc CL A 30303M102 45542 166721 SH SOLE 162024 0 4697 Fastenal Co COM 311900104 58997 1208214 SH SOLE 1186340 0 21874 Ferro Corp COM 315405100 5128 350544 SH SOLE 350544 0 0 Fiserv Inc COM 337738108 7254 63710 SH SOLE 63710 0 0 Flexion Therapeutics Inc COM 33938J106 3720 322345 SH SOLE 322345 0 0 FLIR Systems Inc COM 302445101 3295 75184 SH SOLE 75184 0 0 Floor & Decor Holdings Inc CL A 339750101 344 3704 SH SOLE 3704 0 0 Franco-Nevada Corp COM 351858105 7394 59000 SH SOLE 59000 0 0 Gartner Inc COM 366651107 78714 491382 SH SOLE 475095 0 16287 General Dynamics Corp COM 369550108 6023 40473 SH SOLE 40473 0 0 General Motors Co COM 37045V100 8815 211700 SH SOLE 211700 0 0 Genmab A/S - Spons ADR SPONSORED ADS 372303206 2838 69803 SH SOLE 68876 0 927 Gilead Sciences Inc COM 375558103 5659 97135 SH SOLE 97135 0 0 Glacier Bancorp Inc COM 37637Q105 31848 692190 SH SOLE 669098 0 23092 Glaukos Corp COM 377322102 5046 67054 SH SOLE 67054 0 0 Globus Medical Inc CL A 379577208 7366 112937 SH SOLE 112937 0 0 Grifols SA - Spons ADR SP ADR REP B NVT 398438408 2639 143088 SH SOLE 141162 0 1926 Hain Celestial Group Inc/The COM 405217100 11404 284030 SH SOLE 284030 0 0 HDFC Bank Ltd - Spons ADR SPONSORED ADS 40415F101 6921 95786 SH SOLE 94822 0 964 Healthcare Services Group Inc COM 421906108 3216 114451 SH SOLE 114451 0 0 Hershey Co/The COM 427866108 13233 86873 SH SOLE 86803 0 70 Hibbett Sports Inc COM 428567101 3089 66901 SH SOLE 66901 0 0 Home Depot Inc COM 437076102 53936 203056 SH SOLE 202604 0 452 Honeywell International Inc COM 438516106 14027 65947 SH SOLE 65891 0 56 Huntsman Corp COM 447011107 2881 114591 SH SOLE 114591 0 0 IHS Markit Ltd SHS G47567105 83207 926271 SH SOLE 894980 0 31291 Insperity Inc COM 45778Q107 3823 46954 SH SOLE 46954 0 0 International Business Machine COM 459200101 524 4160 SH SOLE 4160 0 0 Iron Mountain Inc COM 46284V101 887 30083 SH SOLE 30083 0 0 Jacobs Engineering Group Inc COM 469814107 74133 680370 SH SOLE 661613 0 18757 JM Smucker Co COM 832696405 5826 50400 SH SOLE 50400 0 0 Johnson & Johnson COM 478160104 46081 292798 SH SOLE 292555 0 243 JPMorgan Chase & Co COM 46625H100 43942 345813 SH SOLE 345183 0 630 Kemper Corp COM 488401100 32932 428641 SH SOLE 414179 0 14462 Kennametal Inc COM 489170100 4151 114551 SH SOLE 114551 0 0 Knight-Swift Transportation Ho CL A 499049104 3629 86775 SH SOLE 86775 0 0 Laboratory Corp of America Hol COM 50540R409 62925 309139 SH SOLE 298817 0 10322 Liberty Broadband Corp COM SER C 530307305 204076 1288601 SH SOLE 1247339 0 41262 Linde PLC COM G5494J103 90071 341812 SH SOLE 336158 0 5654 LiveRamp Holdings Inc COM 53815P108 5811 79399 SH SOLE 79399 0 0 Lowe's Cos Inc COM 548661107 116263 724337 SH SOLE 707446 0 16891 Lumen Technologies Inc COM 550241103 3929 403000 SH SOLE 403000 0 0 Magnite Inc COM 55955D100 7096 231053 SH SOLE 231053 0 0 Manulife Financial Corp COM 56501R106 6961 390634 SH SOLE 386688 0 3946 Markel Corp COM 570535104 62791 60767 SH SOLE 58705 0 2062 Marsh & McLennan Cos Inc COM 571748102 60982 521213 SH SOLE 506027 0 15186 Masco Corp COM 574599106 3783 68873 SH SOLE 68873 0 0 McDonald's Corp COM 580135101 35545 165651 SH SOLE 165433 0 218 Medical Properties Trust Inc COM 58463J304 797 36557 SH SOLE 36557 0 0 Medtronic PLC SHS G5960L103 19102 163067 SH SOLE 162917 0 150 Merck & Co Inc COM 58933Y105 28608 349732 SH SOLE 349457 0 275 MGIC Investment Corp COM 552848103 8776 699303 SH SOLE 699303 0 0 MGM Growth Properties LLC CL A 55303A105 562 17955 SH SOLE 17955 0 0 Microsoft Corp COM 594918104 26553 119380 SH SOLE 118217 0 1163 Moelis & Co CL A 60786M105 42770 914666 SH SOLE 884042 0 30624 Mondelez International Inc CL A 609207105 470 8035 SH SOLE 8035 0 0 Natera Inc COM 632307104 6991 70252 SH SOLE 70252 0 0 National Instruments Corp COM 636518102 4743 107951 SH SOLE 107951 0 0 Nestle SA - Spons ADR SPONSORED ADR 641069406 31175 264644 SH SOLE 263400 0 1244 NewMarket Corp COM 651587107 29354 73701 SH SOLE 71237 0 2464 Newmont Corp COM 651639106 5690 95000 SH SOLE 95000 0 0 NextEra Energy Inc COM 65339F101 39234 508548 SH SOLE 505691 0 2857 Nordstrom Inc COM 655664100 1476 47300 SH SOLE 47300 0 0 Northern Trust Corp COM 665859104 35565 381848 SH SOLE 381523 0 325 Novartis AG - Spons ADR SPONSORED ADR 66987V109 83316 882303 SH SOLE 861258 0 21045 NXP Semiconductors NV COM N6596X109 6400 40249 SH SOLE 39851 0 398 O'Reilly Automotive Inc COM 67103H107 330 730 SH SOLE 730 0 0 Olin Corp COM 680665205 3795 154516 SH SOLE 154516 0 0 Oracle Corp COM 68389X105 242 3746 SH SOLE 3746 0 0 Owens & Minor Inc COM 690732102 5071 187480 SH SOLE 187480 0 0 PACCAR Inc COM 693718108 54038 626313 SH SOLE 608315 0 17998 Pagseguro Digital Ltd COM CL A G68707101 5657 99463 SH SOLE 98472 0 991 Paychex Inc COM 704326107 23665 253973 SH SOLE 253758 0 215 PayPal Holdings Inc COM 70450Y103 7395 31575 SH SOLE 31575 0 0 PepsiCo Inc COM 713448108 42365 285671 SH SOLE 285308 0 363 PetIQ Inc CL A 71639T106 4445 115604 SH SOLE 115604 0 0 Pfizer Inc COM 717081103 18251 495806 SH SOLE 495401 0 405 Philip Morris International In COM 718172109 555 6704 SH SOLE 6704 0 0 Physicians Realty Trust COM 71943U104 702 39435 SH SOLE 39435 0 0 PPG Industries Inc COM 693506107 62378 432520 SH SOLE 420164 0 12356 PRA Group Inc COM 69354N106 4883 123113 SH SOLE 123113 0 0 PRA Health Sciences Inc COM 69354M108 4657 37126 SH SOLE 37126 0 0 Primo Water Corp COM 74167P108 3596 229356 SH SOLE 229356 0 0 Procter & Gamble Co COM 742718109 31633 227344 SH SOLE 226676 0 668 Progressive Corp COM 743315103 166315 1681984 SH SOLE 1630929 0 51055 Prudential PLC - Spons ADR ADR 74435K204 4476 121199 SH SOLE 119460 0 1739 PTC Inc COM 69370C100 6932 57954 SH SOLE 57954 0 0 QUALCOMM Inc COM 747525103 8449 55459 SH SOLE 54911 0 548 Range Resources Corp COM 75281A109 8839 1319200 SH SOLE 1319200 0 0 Regions Financial Corp COM 7591EP100 4604 285600 SH SOLE 285600 0 0 Revolve Group Inc CL A 76156B107 3806 122105 SH SOLE 122105 0 0 Rexnord Corp COM 76169B102 4974 125952 SH SOLE 125952 0 0 RLI Corp COM 749607107 802 7698 SH SOLE 7698 0 0 Robert Half International Inc COM 770323103 3974 63608 SH SOLE 63608 0 0 Ross Stores Inc COM 778296103 59288 482762 SH SOLE 466557 0 16205 Royal Dutch Shell PLC - Spons SPON ADR B 780259107 2525 75128 SH SOLE 73962 0 1166 Royal Gold Inc COM 780287108 2234 21000 SH SOLE 21000 0 0 S&P Global Inc COM 78409V104 501 1525 SH SOLE 1525 0 0 SAP SE - Spons ADR SPON ADR 803054204 2921 22403 SH SOLE 22181 0 222 Scotts Miracle-Gro Co/The CL A 810186106 6303 31653 SH SOLE 31653 0 0 Shake Shack Inc CL A 819047101 2864 33780 SH SOLE 33780 0 0 Simply Good Foods Co/The COM 82900L102 6234 198802 SH SOLE 198802 0 0 Sony Corp - Spons ADR SPONSORED ADR 835699307 4280 42336 SH SOLE 41828 0 508 Southern Copper Corp COM 84265V105 4058 62317 SH SOLE 61477 0 840 STAG Industrial Inc COM 85254J102 746 23824 SH SOLE 23824 0 0 Starbucks Corp COM 855244109 22432 209687 SH SOLE 209491 0 196 Steel Dynamics Inc COM 858119100 6876 186500 SH SOLE 186500 0 0 Stericycle Inc COM 858912108 4201 60595 SH SOLE 60595 0 0 Taiwan Semiconductor Mfg Co Lt SPONSORED ADS 874039100 7023 64406 SH SOLE 63733 0 673 TAL Education Group - Spons AD SPONSORED ADS 874080104 3559 49763 SH SOLE 49264 0 499 Target Corp COM 87612E106 12834 72702 SH SOLE 71562 0 1140 TE Connectivity Ltd REG SHS H84989104 86435 713927 SH SOLE 700066 0 13861 Telefonaktiebolaget LM Ericsso ADR B SEK 10 294821608 4666 390479 SH SOLE 385377 0 5102 Texas Instruments Inc COM 882508104 37368 227672 SH SOLE 227482 0 190 Thermo Fisher Scientific Inc COM 883556102 457 981 SH SOLE 981 0 0 TJX Cos Inc COM 872540109 61645 902692 SH SOLE 879178 0 23514 Toyota Motor Corp - Spons ADR SP ADR REP2COM 892331307 2869 18563 SH SOLE 18341 0 222 Transocean Ltd REG SHS H8817H100 1478 640000 SH SOLE 640000 0 0 Travelers Cos Inc COM 89417E109 39443 280996 SH SOLE 280788 0 208 U.S. Bancorp COM 902973304 95495 2049694 SH SOLE 2003367 0 46327 Unilever PLC - Spons ADR SPON ADR 904767704 904 14982 SH SOLE 14982 0 0 Union Pacific Corp COM 907818108 28552 137124 SH SOLE 136543 0 581 United Parcel Service Inc CL B 911312106 11237 66729 SH SOLE 65838 0 891 UnitedHealth Group Inc COM 91324P102 9031 25754 SH SOLE 25319 0 435 Varian Medical Systems Inc COM 92220P105 1288 7362 SH SOLE 7338 0 24 Varonis Systems Inc COM 922280102 2942 17979 SH SOLE 17979 0 0 Verisk Analytics Inc COM 92345Y106 511 2460 SH SOLE 2460 0 0 Veritex Holdings Inc COM 923451108 3070 119642 SH SOLE 119642 0 0 Verizon Communications Inc COM 92343V104 51547 877392 SH SOLE 875854 0 1538 Vertex Pharmaceuticals Inc COM 92532F100 804 3400 SH SOLE 3400 0 0 Visa Inc CL A 92826C839 85942 392915 SH SOLE 382880 0 10035 Vontier Corp COM 928881101 57188 1712215 SH SOLE 1654379 0 57836 Vulcan Materials Co COM 929160109 3909 26357 SH SOLE 26357 0 0 Walmart Inc COM 931142103 270 1875 SH SOLE 1875 0 0 Walt Disney Co COM 254687106 8513 46987 SH SOLE 46162 0 825 Waste Management Inc COM 94106L109 531 4500 SH SOLE 4500 0 0 Western Alliance Bancorp COM 957638109 5846 97519 SH SOLE 97519 0 0 WillScot Mobile Mini Holdings COM CL A 971378104 6429 277491 SH SOLE 277491 0 0 WR Berkley Corp COM 084423102 41589 626159 SH SOLE 605149 0 21010 Distillate US Fundamental Stab DISTILLATE US 26922A321 21489 591647 SH SOLE 591647 0 0 Invesco BuyBack Achievers ETF BUYBACK ACHIEV 46137V308 2047 27909 SH SOLE 27909 0 0 Invesco FTSE RAFI US 1000 ETF FTSE RAFI 1000 46137V613 670 5032 SH SOLE 5032 0 0 Invesco Optimum Yield Diversif OPTIMUM YIELD 46090F100 37714 2471396 SH SOLE 2471396 0 0 Invesco QQQ Trust Series 1 UNIT SER 1 46090E103 238 757 SH SOLE 757 0 0 Invesco S&P 500 Quality ETF S&P500 QUALITY 46137V241 18925 449425 SH SOLE 449425 0 0 Invesco Treasury Collateral ET TREAS COLATERL 46138G888 14363 135927 SH SOLE 135927 0 0 iShares 1-3 Year Treasury Bond 1 3 YR TREAS BD 464287457 321 3715 SH SOLE 3715 0 0 iShares 20 Year Treasury Bond 20 YR TR BD ETF 464287432 83994 532516 SH SOLE 532516 0 0 iShares 7-10 Year Treasury Bon BARCLAYS 7 10 YR 464287440 1632 13607 SH SOLE 13607 0 0 iShares Core MSCI EAFE ETF CORE MSCI EAFE 46432F842 457 6621 SH SOLE 6621 0 0 iShares Core MSCI Emerging Mar CORE MSCI EMKT 46434G103 2367 38155 SH SOLE 38155 0 0 iShares Core S&P 500 ETF CORE S&P500 ETF 464287200 10092 26885 SH SOLE 26885 0 0 iShares Core S&P Mid-Cap ETF CORE S&P MCP ETF 464287507 54741 238179 SH SOLE 238146 0 33 iShares Core S&P Small-Cap ETF CORE S&P SCP ETF 464287804 44309 482144 SH SOLE 481584 0 560 iShares Core U.S. Aggregate Bo CORE US AGGBD ET 464287226 1133 9583 SH SOLE 9583 0 0 iShares Edge MSCI Min Vol EAFE MIN VOL EAFE ETF 46429B689 16466 224296 SH SOLE 224296 0 0 iShares Edge MSCI Min Vol Emer MIN VOL EMRG MKT 464286533 14356 235029 SH SOLE 235029 0 0 iShares Edge MSCI USA Quality USA QUALITY FCTR 46432F339 5633 48475 SH SOLE 48475 0 0 iShares Global Energy ETF GLOBAL ENERG ETF 464287341 3305 162738 SH SOLE 162738 0 0 iShares iBoxx High Yield Corpo IBOXX HI YD ETF 464288513 515 5900 SH SOLE 5900 0 0 iShares MBS ETF MBS ETF 464288588 120795 1096843 SH SOLE 1096843 0 0 iShares MSCI ACWI ex US ETF MSCI ACWI EX US 464288240 2687 50668 SH SOLE 50668 0 0 iShares MSCI China ETF MSCI CHINA ETF 46429B671 30533 377089 SH SOLE 377089 0 0 iShares MSCI EAFE ETF MSCI EAFE ETF 464287465 238 3267 SH SOLE 3267 0 0 iShares MSCI EAFE Small-Cap ET EAFE SML CP ETF 464288273 225 3298 SH SOLE 3298 0 0 iShares MSCI Emerging Markets MSCI EM ASIA ETF 464286426 6176 70599 SH SOLE 70599 0 0 iShares MSCI Germany ETF MSCI GERMANY ETF 464286806 1605 50507 SH SOLE 50507 0 0 iShares MSCI Japan Small-Cap E MSCI JAPN SMCETF 464286582 3484 44092 SH SOLE 44092 0 0 iShares MSCI Switzerland ETF MSCI SWITZERLAND 464286749 3173 71006 SH SOLE 71006 0 0 iShares Nasdaq Biotechnology E NASDAQ BIOTECH 464287556 17587 116093 SH SOLE 116093 0 0 iShares Russell 1000 Growth ET RUS 1000 GRW ETF 464287614 1121 4647 SH SOLE 4647 0 0 iShares Russell 1000 Value ETF RUS 1000 VAL ETF 464287598 410 2997 SH SOLE 2997 0 0 iShares Russell 2000 ETF RUSSELL 2000 ETF 464287655 427 2178 SH SOLE 2018 0 160 iShares Russell 2000 Growth ET RUS 2000 GRW ETF 464287648 324 1129 SH SOLE 1129 0 0 iShares Russell Mid-Cap Growth RUS MD CP GR ETF 464287481 321 3128 SH SOLE 3128 0 0 iShares Short Treasury Bond ET SHORT TREAS BD 464288679 8968 81135 SH SOLE 81135 0 0 iShares U.S. Home Construction US HOME CONS ETF 464288752 5010 89791 SH SOLE 89791 0 0 JPMorgan BetaBuilders Japan ET BETBULD JAPAN 46641Q712 43785 1563749 SH SOLE 1563749 0 0 Schwab Fundamental U.S. Large SCHWAB FDT US LG 808524771 9633 212690 SH SOLE 212690 0 0 Schwab US Dividend Equity ETF US DIVIDEND EQ 808524797 18548 289175 SH SOLE 289175 0 0 Schwab US TIPS ETF US TIPS ETF 808524870 51006 821620 SH SOLE 821620 0 0 SPDR Gold Shares GOLD SHS 78463V107 8047 45119 SH SOLE 45119 0 0 SPDR S&P 500 ETF Trust TR UNIT 78462F103 89996 240708 SH SOLE 240674 0 34 SPDR S&P China ETF S&P CHINA ETF 78463X400 6527 50127 SH SOLE 50127 0 0 SPDR S&P Dividend ETF S&P DIVID ETF 78464A763 3724 35154 SH SOLE 35154 0 0 SPDR S&P Emerging Asia Pacific ASIA PACIF ETF 78463X301 42749 335784 SH SOLE 335279 0 505 SPDR S&P MidCap 400 ETF Trust UTSER1 S&PCRP 78467Y107 4207 10019 SH SOLE 9912 0 107 VanEck Vectors Gold Miners ETF GOLD MINERS ETF 92189F106 49629 1377819 SH SOLE 1377819 0 0 Vanguard Dividend Appreciation DIV APP ETF 921908844 17815 126199 SH SOLE 126199 0 0 Vanguard FTSE All-World ex-US ALLWRLD EX US 922042775 86272 1478267 SH SOLE 1478267 0 0 Vanguard FTSE All World ex-US FTSE SMCAP ETF 922042718 31380 257548 SH SOLE 257548 0 0 Vanguard Growth ETF GROWTH ETF 922908736 26209 103453 SH SOLE 103453 0 0 Vanguard Health Care ETF HEALTH CAR ETF 92204A504 11512 51453 SH SOLE 51453 0 0 Vanguard Industrials ETF INDUSTRIAL ETF 92204A603 4924 28968 SH SOLE 28968 0 0 Vanguard Information Technolog INF TECH ETF 92204A702 48656 137529 SH SOLE 137529 0 0 Vanguard Intermediate-Term Cor INT-TERM CORP 92206C870 7821 80513 SH SOLE 80513 0 0 Vanguard Large-Cap ETF LARGE CAP ETF 922908637 37545 213638 SH SOLE 213638 0 0 Vanguard S&P Mid-Cap 400 Growt MIDCP 400 GRTH 921932869 15940 89146 SH SOLE 89146 0 0 Vanguard Short-Term Corporate SHRT TRM CORP BD 92206C409 128494 1543476 SH SOLE 1543476 0 0 Vanguard Total Bond Market ETF TOTAL BND MRKT 921937835 55462 628891 SH SOLE 628891 0 0