MUTUAL FUND & COMPLIANCE ASSOCIATE

0001138060-18-000016.txt : 20180808 0001138060-18-000016.hdr.sgml : 20180808 20180808164558 ACCESSION NUMBER: 0001138060-18-000016 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20180630 FILED AS OF DATE: 20180808 DATE AS OF CHANGE: 20180808 EFFECTIVENESS DATE: 20180808 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: 181002021 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 06-30-2018 06-30-2018 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 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 MUTUAL FUND & COMPLIANCE ASSOCIATE 608-216-9193 TREY D. EDGERLE MADISON WI 08-08-2018 2 254 5597404 false 1 0001299351 028-10986 Madison Asset Management, LLC 2 0001507115 028-14137 Madison Investment Advisors, LLC INFORMATION TABLE 2 mihi13f2q2018informationta.xml INFORMATION TABLE 3M Company COM 88579Y101 11100 56423 SH SOLE 55968 0 455 Abbott Laboratories COM 002824100 259 4252 SH SOLE 4186 0 66 Accenture PLC - Class A COM G1151C101 44109 269631 SH SOLE 262571 0 7060 AES Corporation COM 00130H105 26611 1984381 SH SOLE 1984381 0 0 Alcoa Corp COM 013872106 10604 226200 SH SOLE 226200 0 0 Allstate Corp COM 020002101 256 2800 SH SOLE 2800 0 0 Alphabet Inc - Class C CAP STK CL C 02079K107 69662 62441 SH SOLE 60663 0 1778 Alphabet Inc - Class A CAP STK CL A 02079K305 571 506 SH SOLE 506 0 0 Altria Group Inc. COM 02209S103 614 10812 SH SOLE 10812 0 0 Amazon.com Inc COM 023135106 252 148 SH SOLE 148 0 0 American Financial Group Inc. COM 025932104 711 6622 SH SOLE 6622 0 0 American Tower Corp COM 03027X100 51267 355601 SH SOLE 343411 0 12190 Amgen Inc COM 031162100 15574 84373 SH SOLE 83914 0 459 Amphenol Corp - Class A CL A 032095101 23749 272503 SH SOLE 263978 0 8525 Analog Devices Inc COM 032654105 48392 504506 SH SOLE 492110 0 12396 Apache Corp COM 037411105 12407 265384 SH SOLE 265384 0 0 Apple Inc COM 037833100 6101 32958 SH SOLE 32550 0 408 Arch Capital Group Ltd COM G0450A105 57748 2182451 SH SOLE 2110377 0 72074 Archer-Daniels-Midland Co COM 039483102 21644 472270 SH SOLE 472270 0 0 AT&T Inc COM 00206R102 475 14786 SH SOLE 14786 0 0 Automatic Data Processing Inc COM 053015103 13050 97283 SH SOLE 96438 0 845 Axalta Coating Systems Ltd COM G0750C108 39978 1318967 SH SOLE 1276457 0 42510 Baker Hughes a GE Co CL A 05722G100 8898 269400 SH SOLE 269400 0 0 Bank of America Corp COM 060505104 23876 846965 SH SOLE 846965 0 0 Bank of New York Mellon Corpor COM 064058100 18391 341024 SH SOLE 341024 0 0 Baxter International Inc. COM 071813109 28828 390405 SH SOLE 390405 0 0 BB&T Corporation COM 054937107 10948 217056 SH SOLE 216906 0 150 Becton, Dickinson and Company COM 075887109 6799 28383 SH SOLE 27759 0 624 Berkshire Hathaway Inc - Cl B CL B 084670702 57785 309591 SH SOLE 299244 0 10347 Boeing Company (The) COM 097023105 1210 3606 SH SOLE 3595 0 11 Bristol-Myers Squibb Co COM 110122108 264 4774 SH SOLE 4774 0 0 Brookfield Asset Management In CL A LTD VT SH 112585104 93667 2310494 SH SOLE 2231085 0 79409 Brown-Forman Corporation CL B 115637209 10795 220252 SH SOLE 213252 0 7000 Brown & Brown Inc. COM 115236101 48884 1762861 SH SOLE 1706826 0 56035 Canadian Natural Resources Ltd COM 136385101 25610 709999 SH SOLE 709999 0 0 CarMax Inc. COM 143130102 96510 1324413 SH SOLE 1279508 0 44905 Carnival Corp COM 143658300 12072 210647 SH SOLE 210012 0 635 Caterpillar Inc COM 149123101 548 4040 SH SOLE 4040 0 0 CBRE Group Inc CL A 12504L109 219 4579 SH SOLE 4579 0 0 CDW Corp/DE COM 12514G108 93012 1151278 SH SOLE 1112169 0 39109 Celgene Corp COM 151020104 829 10436 SH SOLE 10408 0 28 CenturyLink Inc COM 156700106 24058 1290685 SH SOLE 1290685 0 0 Cerner Corporation COM 156782104 7097 118700 SH SOLE 118700 0 0 Charles Schwab Corp/The COM 808513105 25793 504752 SH SOLE 487061 0 17691 Chevron Corp COM 166764100 34926 276249 SH SOLE 275023 0 1226 Chubb Ltd COM H1467J104 10915 85928 SH SOLE 85149 0 779 Ciena Corp COM 171779309 10583 399200 SH SOLE 399200 0 0 Cisco Systems Inc COM 17275R102 27370 636066 SH SOLE 632604 0 3462 Citigroup Inc. COM 172967424 7644 114228 SH SOLE 114228 0 0 Cleveland-Cliffs Inc COM 185899101 11100 1316690 SH SOLE 1316690 0 0 CME Group Inc/IL COM 12572Q105 20265 123628 SH SOLE 123478 0 150 Coca-Cola Co COM 191216100 765 17436 SH SOLE 17186 0 250 Cognizant Technology Solutions CL A 192446102 50081 634014 SH SOLE 611947 0 22067 Comcast Corp - Cl A CL A 20030N101 22828 695760 SH SOLE 671862 0 23898 Copart Inc COM 217204106 66763 1180395 SH SOLE 1141125 0 39270 Costco Wholesale Corp COM 22160K105 7397 35396 SH SOLE 34416 0 980 Crown Castle International Cor COM 22822V101 32828 304475 SH SOLE 294750 0 9725 Crown Holdings Inc. COM 228368106 26050 581999 SH SOLE 563287 0 18712 CVS Health Corp COM 126650100 7884 122518 SH SOLE 122428 0 90 Danaher Corp COM 235851102 52036 527324 SH SOLE 509416 0 17908 DaVita Inc COM 23918K108 31353 451508 SH SOLE 437093 0 14415 Delta Air Lines Inc. COM 247361702 6527 131755 SH SOLE 131755 0 0 Diageo PLC ADR SPON ADR 25243Q205 44992 312426 SH SOLE 305168 0 7258 Discovery Inc COM SER A 25470F104 930 33800 SH SOLE 33800 0 0 Discovery Inc COM SER C 25470F302 5358 210100 SH SOLE 210100 0 0 Dollar General Corp COM 256677105 1563 15849 SH SOLE 15849 0 0 Dominion Energy Inc COM 25746U109 11645 170805 SH SOLE 170399 0 406 DowDuPont Inc COM 26078J100 19763 299802 SH SOLE 299802 0 0 Duke Energy Corp COM 26441C204 344 4355 SH SOLE 4355 0 0 eBay Inc. COM 278642103 939 25883 SH SOLE 25883 0 0 Ecolab Inc. COM 278865100 1345 9584 SH SOLE 9244 0 340 Emerson Electric Co COM 291011104 13181 190638 SH SOLE 190418 0 220 EOG Resources Inc. COM 26875P101 24022 193060 SH SOLE 193060 0 0 Exelon Corp COM 30161N101 207 4854 SH SOLE 4854 0 0 Expeditors International of Wa COM 302130109 50550 691515 SH SOLE 669217 0 22298 Express Scripts Holding Compan COM 30219G108 978 12670 SH SOLE 12636 0 34 Exxon Mobil Corporation COM 30231G102 30672 370742 SH SOLE 369920 0 822 Fastenal Co COM 311900104 50124 1041433 SH SOLE 1021935 0 19498 FedEx Corp COM 31428X106 4941 21759 SH SOLE 21759 0 0 First Data Corp CL A 32008D106 24327 1162290 SH SOLE 1162290 0 0 Fortive Corp COM 34959J108 453 5872 SH SOLE 5872 0 0 Freeport-McMoRan Inc CL B 35671D857 4760 275800 SH SOLE 275800 0 0 General Dynamics Corp COM 369550108 465 2496 SH SOLE 2496 0 0 General Motors Co COM 37045V100 8625 218900 SH SOLE 218900 0 0 Gilead Sciences Inc. COM 375558103 9338 131813 SH SOLE 131813 0 0 Glacier Bancorp Inc COM 37637Q105 26526 685787 SH SOLE 664073 0 21714 Halliburton Co COM 406216101 16046 356095 SH SOLE 356095 0 0 Henry Schein Inc COM 806407102 86823 1195246 SH SOLE 1154300 0 40946 Home Depot Inc. COM 437076102 24655 126371 SH SOLE 125577 0 794 Humana Inc COM 444859102 9551 32090 SH SOLE 32090 0 0 IHS Markit Ltd SHS G47567105 44638 865254 SH SOLE 837809 0 27445 Intel Corporation COM 458140100 1729 34779 SH SOLE 34681 0 98 Jacobs Engineering Group Inc COM 469814107 81527 1284085 SH SOLE 1247246 0 36839 JM Smucker Company (The) COM 832696405 44821 417019 SH SOLE 407198 0 9821 Johnson & Johnson COM 478160104 56393 464750 SH SOLE 454239 0 10511 JPMorgan Chase & Co COM 46625H100 27810 266894 SH SOLE 266836 0 58 Kroger Co/The COM 501044101 846 29726 SH SOLE 29726 0 0 Laboratory Corp of America Hol COM 50540R409 45967 256039 SH SOLE 247760 0 8279 Liberty Broadband Corporation COM SER C 530307305 52804 697360 SH SOLE 674600 0 22760 Liberty Global plc -Series C SHS CL C G5480U120 26164 983226 SH SOLE 951168 0 32058 Lowe's Cos Inc COM 548661107 1621 16962 SH SOLE 16962 0 0 Markel Corporation COM 570535104 58906 54324 SH SOLE 52584 0 1740 McDonald's Corporation COM 580135101 13647 87097 SH SOLE 86632 0 465 McKesson Corporation COM 58155Q103 4262 31948 SH SOLE 31948 0 0 Medtronic PLC SHS G5960L103 41455 484236 SH SOLE 483916 0 320 Merck & Co Inc COM 58933Y105 12572 207123 SH SOLE 206903 0 220 Microsoft Corporation COM 594918104 41535 421208 SH SOLE 418582 0 2626 Mondelez International Inc. - CL A 609207105 384 9356 SH SOLE 9356 0 0 Nestle SA - Spons ADR COM 641069406 18704 241562 SH SOLE 239861 0 1701 NewMarket Corp COM 651587107 11633 28760 SH SOLE 27800 0 960 Newmont Mining Corp COM 651639106 22165 587785 SH SOLE 587785 0 0 NextEra Energy Inc. COM 65339F101 18476 110612 SH SOLE 109402 0 1210 NIKE Inc CL B 654106103 301 3778 SH SOLE 3778 0 0 Nordstrom Inc COM 655664100 2708 52300 SH SOLE 52300 0 0 Northern Trust Corp COM 665859104 20137 195714 SH SOLE 194784 0 930 Novartis AG ADR SPONSORED ADR 66987V109 66629 882040 SH SOLE 857220 0 24820 NRG Energy Inc COM 629377508 15146 493360 SH SOLE 493360 0 0 Nucor Corp COM 670346105 16104 257665 SH SOLE 257365 0 300 O'Reilly Automotive Inc COM 67103H107 67921 248277 SH SOLE 240161 0 8116 Oceaneering International Inc COM 675232102 13697 537978 SH SOLE 519879 0 18099 Omnicom Group Inc. COM 681919106 98711 1294225 SH SOLE 1249939 0 44286 Oracle Corporation COM 68389X105 51043 1158488 SH SOLE 1119203 0 39285 PayPal Holdings Inc COM 70450Y103 1069 12835 SH SOLE 12807 0 28 PepsiCo Inc. COM 713448108 17320 159085 SH SOLE 158384 0 701 Pfizer Inc. COM 717081103 21578 594770 SH SOLE 590911 0 3859 PNC Financial Services Group I COM 693475105 13600 100665 SH SOLE 99411 0 1254 PPG Industries Inc COM 693506107 67166 647506 SH SOLE 624364 0 23142 Praxair Inc COM 74005P104 81326 514233 SH SOLE 501273 0 12960 Procter & Gamble Company (The) COM 742718109 15472 198211 SH SOLE 197053 0 1158 Progressive Corp COM 743315103 6188 104613 SH SOLE 102968 0 1645 QUALCOMM Inc. COM 747525103 11621 207070 SH SOLE 207070 0 0 Range Resources Corporation COM 75281A109 7181 429200 SH SOLE 429200 0 0 Regions Financial Corp COM 7591EP100 14706 827096 SH SOLE 827096 0 0 Rio Tinto PLC - Sponsored ADR SPONSORED ADR 767204100 17552 316360 SH SOLE 316360 0 0 RLI Corp COM 749607107 1051 15872 SH SOLE 15872 0 0 Ross Stores Inc COM 778296103 24903 293835 SH SOLE 284544 0 9291 RPM International Inc COM 749685103 26407 452801 SH SOLE 438111 0 14690 Schlumberger Ltd COM 806857108 22021 328521 SH SOLE 327374 0 1147 Seagate Technology PLC SHS G7945M107 13448 238150 SH SOLE 238150 0 0 Sempra Energy COM 816851109 15414 132750 SH SOLE 132750 0 0 Southern Co COM 842587107 384 8300 SH SOLE 8300 0 0 Southern Copper Corporation COM 84265V105 3996 85250 SH SOLE 85250 0 0 Starbucks Corp COM 855244109 39979 818404 SH SOLE 797812 0 20592 Steel Dynamics Inc COM 858119100 5330 116000 SH SOLE 116000 0 0 Stryker Corporation COM 863667101 866 5127 SH SOLE 5127 0 0 T-Mobile US Inc COM 872590104 15280 255730 SH SOLE 255730 0 0 TE Connectivity Ltd REG SHS H84989104 39036 433439 SH SOLE 418414 0 15025 Teck Resources Ltd CL B 878742204 7898 310350 SH SOLE 310350 0 0 Texas Instruments Inc COM 882508104 7335 66531 SH SOLE 66455 0 76 Textron Inc COM 883203101 19397 294300 SH SOLE 294300 0 0 Tiffany & Co COM 886547108 447 3400 SH SOLE 3400 0 0 TJX Cos Inc COM 872540109 126707 1331232 SH SOLE 1291118 0 40114 Travelers Cos Inc COM 89417E109 12723 103994 SH SOLE 103869 0 125 U.S. Bancorp COM 902973304 94763 1894496 SH SOLE 1849030 0 45466 UGI Corp COM 902681105 234 4500 SH SOLE 4500 0 0 Union Pacific Corp COM 907818108 14760 104178 SH SOLE 103227 0 951 United Parcel Service Inc - Cl CL B 911312106 20353 191590 SH SOLE 190304 0 1286 United Technologies Corp COM 913017109 17910 143246 SH SOLE 143091 0 155 UnitedHealth Group Inc COM 91324P102 889 3622 SH SOLE 3537 0 85 Varian Medical Systems Inc COM 92220P105 19789 174013 SH SOLE 167971 0 6042 Verizon Communications Inc COM 92343V104 23970 476451 SH SOLE 474449 0 2002 Visa Inc - Class A COM CL A 92826C839 54432 410962 SH SOLE 397082 0 13880 W.R. Berkley Corporation COM 084423102 29597 408738 SH SOLE 395669 0 13069 Wabtec Corp/DE COM 929740108 297 3012 SH SOLE 3012 0 0 Walt Disney Company (The) COM 254687106 4848 46255 SH SOLE 45248 0 1007 Waste Management Inc COM 94106L109 386 4750 SH SOLE 4750 0 0 Wells Fargo & Co COM 949746101 18144 327266 SH SOLE 326911 0 355 Weyerhaeuser Co COM 962166104 17764 487225 SH SOLE 487225 0 0 Whirlpool Corp COM 963320106 5776 39500 SH SOLE 39500 0 0 Xilinx Inc COM 983919101 11246 172320 SH SOLE 172320 0 0 Zoetis Inc CL A 98978V103 38338 450035 SH SOLE 435528 0 14507 Energy Select Sector SPDR Fund SBI INT-ENERGY 81369Y506 32302 425364 SH SOLE 425364 0 0 Invesco BulletShares 2018 Corp BULSHS2018 COR 46138J106 2672 126288 SH SOLE 124692 0 1596 Invesco BulletShares 2019 Corp BULSHS 2019 CB 46138J304 2262 107740 SH SOLE 105956 0 1784 Invesco BulletShares 2020 Corp BULSHS 2020 CB 46138J502 1944 92329 SH SOLE 91318 0 1011 Invesco BulletShares 2021 Corp BULSHS 2021 CB 46138J700 1064 51274 SH SOLE 51274 0 0 Invesco BuyBack Achievers ETF BUYBACK ACHIEV 46137V308 11450 201767 SH SOLE 201767 0 0 Invesco DB Gold Fund GOLD FD 46140H601 10209 258400 SH SOLE 258400 0 0 Invesco Dynamic Pharmaceutical DYNMC PHRMCTLS 46137V662 2760 41069 SH SOLE 41069 0 0 Invesco FTSE RAFI Developed Ma FTSE RAFI DEV 46138E743 4010 93274 SH SOLE 93274 0 0 Invesco FTSE RAFI US 1000 ETF FTSE RAFI 1000 46137V613 8126 72165 SH SOLE 72165 0 0 Invesco FTSE RAFI US 1500 Smal FTSE RAFI 1500 46137V597 4463 32071 SH SOLE 32008 0 63 Invesco Optimum Yield Diversif OPTIMUM YIELD 46090F100 47669 2582262 SH SOLE 2582262 0 0 Invesco S&P 500 Quality ETF S&P500 QUALITY 46137V241 20800 693098 SH SOLE 693098 0 0 iShares 20 Year Treasury Bond 20 YR TR BD ETF 464287432 51691 424670 SH SOLE 424670 0 0 iShares 3-7 Year Treasury Bond 3-7 YR TR BD ETF 464288661 665 5541 SH SOLE 5541 0 0 iShares 7-10 Year Treasury Bon 7-10 Y TR BD ETF 464287440 95735 933905 SH SOLE 933905 0 0 iShares Core MSCI EAFE ETF CORE MSCI EAFE 46432F842 2515 39684 SH SOLE 39684 0 0 iShares Core MSCI Emerging Mar CORE MSCI EMKT 46434G103 1495 28464 SH SOLE 28464 0 0 iShares Core S&P 500 ETF CORE S&P500 ETF 464287200 53828 197135 SH SOLE 197135 0 0 iShares Core S&P Mid-Cap ETF CORE S&P MCP ETF 464287507 119658 614326 SH SOLE 614218 0 108 iShares Core S&P Small-Cap ETF CORE S&P SCP ETF 464287804 43634 522817 SH SOLE 521783 0 1034 iShares Currency Hedged MSCI E CUR HD EURZN ETF 46434V803 25271 853602 SH SOLE 853602 0 0 iShares Edge MSCI Min Vol EAFE MIN VOL EAFE ETF 46429B689 7016 98617 SH SOLE 98617 0 0 iShares Edge MSCI Min Vol Emer MIN VOL EMRG MKT 464286533 15598 269669 SH SOLE 269669 0 0 iShares Edge MSCI USA Quality USA QUALITY FCTR 46432F339 4438 53185 SH SOLE 53185 0 0 iShares Floating Rate Bond ETF FLTG RATE NT ETF 46429B655 7004 137333 SH SOLE 137333 0 0 iShares iBonds Dec 2019 Term C IBONDS DEC19 ETF 46434VAU4 722 29134 SH SOLE 29134 0 0 iShares iBonds Dec 2020 Term C IBONDS DEC20 ETF 46434VAQ3 605 24160 SH SOLE 23736 0 424 iShares iBonds Dec 2021 Term C IBONDS DEC21 ETF 46434VBK5 1020 41836 SH SOLE 40535 0 1301 iShares iBonds Dec 2022 Term C IBONDS DEC22 ETF 46434VBA7 838 34411 SH SOLE 33547 0 864 iShares iBonds Sep 2018 Term M IBONDS SEP18 ETF 46429B580 564 22179 SH SOLE 22179 0 0 iShares iBonds Sep 2019 Term M IBONDS SEP19 ETF 46429B564 687 27061 SH SOLE 27061 0 0 iShares MSCI EAFE ETF MSCI EAFE ETF 464287465 1609 24030 SH SOLE 23839 0 191 iShares MSCI EAFE Small-Cap ET EAFE SML CP ETF 464288273 207 3298 SH SOLE 3298 0 0 iShares MSCI Emerging Markets MSCI EMG MKT ETF 464287234 306 7051 SH SOLE 7051 0 0 iShares MSCI Eurozone ETF MSCI EURZONE ETF 464286608 40806 995019 SH SOLE 995019 0 0 iShares MSCI Japan ETF MSCI JPN ETF 46434G822 13774 237850 SH SOLE 237850 0 0 iShares MSCI United Kingdom ET MSCI UK ETF 46435G334 759 21826 SH SOLE 21826 0 0 iShares Nasdaq Biotechnology E NASDAQ BIOTECH 464287556 1155 10519 SH SOLE 10519 0 0 iShares Russell 1000 Growth ET RUS 1000 GRW ETF 464287614 989 6880 SH SOLE 6880 0 0 iShares Russell 1000 Value ETF RUS 1000 VAL ETF 464287598 589 4849 SH SOLE 4849 0 0 iShares Russell 2000 Growth ET RUS 2000 GRW ETF 464287648 421 2062 SH SOLE 2062 0 0 iShares Russell 2000 Value ETF RUS 2000 VAL ETF 464287630 424 3211 SH SOLE 3211 0 0 iShares Russell Mid-Cap Growth RUS MD CP GR ETF 464287481 465 3667 SH SOLE 3667 0 0 iShares TIPS Bond ETF TIPS BD ETF 464287176 53815 476788 SH SOLE 476788 0 0 Oppenheimer S&P 500 Revenue ET S&P 500 REVENUE 68386C104 5930 116816 SH SOLE 116816 0 0 Oppenheimer S&P MidCap 400 Rev S&P MDCP 400 REV 68386C203 6538 107057 SH SOLE 107057 0 0 Oppenheimer Small Cap Revenue SMALL CAP REV ET 68386C302 2985 40672 SH SOLE 40672 0 0 Schwab Fundamental Emerging Ma SCHWB FDT EMK LG 808524730 324 11689 SH SOLE 11689 0 0 Schwab Fundamental Internation SCHWB FDT INT LG 808524755 765 25913 SH SOLE 25661 0 252 Schwab Fundamental U.S. Large SCHWAB FDT US LG 808524771 5880 157459 SH SOLE 150753 0 6706 Schwab Fundamental U.S. Small SCHWAB FDT US SC 808524763 515 12910 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Appreciation DIV APP ETF 921908844 1404 13821 SH SOLE 13821 0 0 Vanguard Financials ETF FINANCIALS ETF 92204A405 9903 146816 SH SOLE 146816 0 0 Vanguard FTSE All-World ex-US ALLWRLD EX US 922042775 90720 1750003 SH SOLE 1750003 0 0 Vanguard FTSE All World ex-US FTSE SMCAP ETF 922042718 39677 343789 SH SOLE 343789 0 0 Vanguard FTSE Emerging Markets FTSE EMR MKT ETF 922042858 14267 338080 SH SOLE 337953 0 127 Vanguard FTSE Europe ETF FTSE EUROPE ETF 922042874 49154 875713 SH SOLE 875713 0 0 Vanguard Growth ETF GROWTH ETF 922908736 106851 713240 SH SOLE 713240 0 0 Vanguard Information Technolog INF TECH ETF 92204A702 33730 185940 SH SOLE 185940 0 0 Vanguard Large-Cap ETF LARGE CAP ETF 922908637 27017 216552 SH SOLE 216552 0 0 Vanguard Materials ETF MATERIALS ETF 92204A801 4974 37807 SH SOLE 37807 0 0 Vanguard Real Estate ETF REAL ESTATE ETF 922908553 530 6511 SH SOLE 6511 0 0 Vanguard S&P 500 ETF S&P 500 ETF SHS 922908363 1086 4353 SH SOLE 4353 0 0 Vanguard Short-Term Corporate SHRT TRM CORP BD 92206C409 87389 1118936 SH SOLE 1118936 0 0 Vanguard Short-Term Treasury E SHORT TERM TREAS 92206C102 30973 516906 SH SOLE 516906 0 0 Vanguard Total Bond Market ETF TOTAL BND MRKT 921937835 65069 821686 SH SOLE 821686 0 0 Vanguard Value ETF VALUE ETF 922908744 543 5228 SH SOLE 5228 0 0 WisdomTree Emerging Markets Sm EMG MKTS SMCAP 97717W281 1198 25131 SH SOLE 25131 0 0 WisdomTree Japan Hedged Equity JAPN HEDGE EQT 97717W851 22038 408262 SH SOLE 408262 0 0 Xtrackers MSCI EAFE Hedged Equ XTRACK MSCI EAFE 233051200 36456 1161017 SH SOLE 1161017 0 0