Efficient Market Advisors

Efficient Market Advisors as of March 31, 2012

Portfolio Holdings for Efficient Market Advisors

Efficient Market Advisors holds 129 positions in its portfolio as reported in the March 2012 quarterly 13F filing

Company (Ticker) Portfolio Weight Valued At Change in Shares Share Count Share Price
Spdr S&p 500 Etf (SPY) 17.2 $32M 226k 140.81
iShares Barclays 1-3 Year Cred Bd Fd ETF (IGSB) 13.2 $25M 233k 105.09
iShares S&P MidCap 400 Index (IJH) 10.1 $19M 189k 99.22
iShares Russell 2000 Index (IWM) 7.4 $14M 166k 82.81
Ishares Tr fltg rate nt (FLOT) 7.0 $13M 261k 50.09
iShares iBoxx $ High Yid Corp Bond (HYG) 6.3 $12M 129k 90.72
iShares S&P US Pref Stock Idx Fnd (PFF) 4.7 $8.7M 223k 39.04
SPDR Barclays Capital Convertible SecETF (CWB) 4.0 $7.4M 185k 39.86
SPDR S&P Homebuilders (XHB) 3.9 $7.2M 337k 21.35
iShares MSCI EAFE Index Fund (EFA) 3.1 $5.8M 106k 54.89
Vanguard Large-Cap ETF (VV) 3.0 $5.5M 85k 64.43
Tearlab Corp 2.8 $5.1M 1.5M 3.40
Vanguard Mid-Cap ETF (VO) 2.2 $4.0M 49k 81.58
iShares JPMorgan USD Emer Mkt Bnd Fd ETF (EMB) 1.9 $3.6M 32k 112.72
Vanguard S&p 500 1.4 $2.5M 39k 64.36
Vanguard Europe Pacific ETF (VEA) 1.1 $2.1M 61k 34.03
Vanguard Emerging Markets ETF (VWO) 1.0 $1.9M 43k 43.48
Vanguard Dividend Appreciation ETF (VIG) 0.9 $1.7M 29k 58.56
Vanguard Small-Cap ETF (VB) 0.7 $1.4M 17k 78.76
SPDR Barclays Capital High Yield B 0.7 $1.3M 33k 39.37
Vanguard FTSE All-World ex-US ETF (VEU) 0.7 $1.3M 29k 44.22
Wisdomtree Trust futre strat (WTMF) 0.6 $1.2M 27k 43.24
NetApp (NTAP) 0.6 $1.1M 25k 44.78
McDonald's Corporation (MCD) 0.6 $1.1M 11k 98.14
iShares Lehman 1-3 Year Treas.Bond (SHY) 0.6 $1.0M 12k 84.35
iShares Dow Jones US Home Const. (ITB) 0.5 $855k 58k 14.71
SPDR Wells Fargo Prfd Stk ETF (PSK) 0.4 $793k 18k 44.90
iShares S&P SmallCap 600 Index (IJR) 0.4 $771k 10k 76.35
Schwab Emerging Markets Equity ETF (SCHE) 0.2 $442k 17k 25.78
PIMCO 1-5 Year US TIPS Index Fund (STPZ) 0.2 $410k 7.6k 54.10
IndexIQ IQ ARB Merger Arbitrage ETF (MNA) 0.2 $364k 14k 25.67
Home Depot (HD) 0.1 $262k 5.2k 50.26
iShares S&P 500 Index (IVV) 0.1 $267k 1.9k 141.42
United Sts Commodity Index F (USCI) 0.1 $218k 3.6k 61.24
PIMCO Enhanced Short Mat Str Fund ETF (MINT) 0.1 $215k 2.1k 101.13
Cutwater Select Income 0.1 $196k 9.9k 19.71
ISHARES TR MSCI Small Cap msci small cap (SCZ) 0.1 $169k 4.2k 40.09
iShares MSCI Emerging Markets Indx (EEM) 0.1 $137k 3.2k 42.84
Exxon Mobil Corporation (XOM) 0.1 $111k 1.3k 86.99
Chevron Corporation (CVX) 0.1 $107k 1.0k 107.00
At&t (T) 0.1 $120k 3.9k 31.14
Vanguard Total Stock Market ETF (VTI) 0.1 $118k 1.6k 72.17
iShares Cohen & Steers Realty Maj. (ICF) 0.1 $115k 1.5k 76.72
Vanguard Total World Stock Idx (VT) 0.1 $104k 2.2k 48.06
iShares FTSE EPRA/NAREIT Dev Gl Real ETF (IFGL) 0.1 $91k 3.2k 28.87
iShares Diversified Alternatives Trust 0.1 $101k 2.1k 48.93
Gains 0.1 $84k 9.3k 8.99
Microsoft Corporation (MSFT) 0.0 $65k 2.0k 32.50
Apple (AAPL) 0.0 $75k 125.00 600.00
Procter & Gamble Company (PG) 0.0 $81k 1.2k 67.50
Ford Motor Company (F) 0.0 $75k 6.0k 12.50
Zix Corporation 0.0 $76k 26k 2.92
iShares IBoxx $ Invest Grade Corp Bd (LQD) 0.0 $72k 624.00 115.38
Vanguard Total Bond Market ETF (BND) 0.0 $82k 983.00 83.42
Goldman Sachs (GS) 0.0 $50k 400.00 125.00
Pfizer (PFE) 0.0 $49k 2.2k 22.79
General Electric Company 0.0 $56k 2.8k 20.10
Qualcomm (QCOM) 0.0 $50k 730.00 68.49
PowerShares DB Com Indx Trckng Fund 0.0 $52k 1.8k 28.92
iShares MSCI Japan Index 0.0 $56k 5.5k 10.17
iShares Lehman Aggregate Bond (AGG) 0.0 $64k 587.00 109.03
iShares Dow Jones Select Dividend (DVY) 0.0 $48k 850.00 56.47
iShares MSCI United Kingdom Index 0.0 $49k 2.9k 17.17
Inventure Foods 0.0 $55k 11k 5.00
Johnson & Johnson (JNJ) 0.0 $38k 579.00 65.63
Verizon Communications (VZ) 0.0 $46k 1.2k 38.33
Humana (HUM) 0.0 $37k 400.00 92.50
iShares Russell Midcap Index Fund (IWR) 0.0 $45k 407.00 110.57
Financial Select Sector SPDR (XLF) 0.0 $28k 1.8k 15.97
iShares MSCI Australia Index Fund (EWA) 0.0 $36k 1.5k 23.53
SPDR Barclays Capital 1-3 Month T- 0.0 $35k 763.00 45.87
iShares FTSE/Xinhua China 25 Index (FXI) 0.0 $22k 608.00 36.18
Bank of America Corporation (BAC) 0.0 $10k 1.0k 10.00
3M Company (MMM) 0.0 $27k 303.00 89.11
Paychex (PAYX) 0.0 $12k 400.00 30.00
Medtronic 0.0 $23k 575.00 40.00
Deere & Company (DE) 0.0 $16k 200.00 80.00
Merck & Co (MRK) 0.0 $11k 285.00 38.60
Google 0.0 $26k 40.00 650.00
Linn Energy 0.0 $23k 600.00 38.33
SPDR Gold Trust (GLD) 0.0 $15k 92.00 163.04
Teradyne (TER) 0.0 $25k 1.5k 16.67
iShares MSCI Hong Kong Index Fund (EWH) 0.0 $25k 1.4k 17.76
Technology SPDR (XLK) 0.0 $12k 384.00 31.25
CBL & Associates Properties 0.0 $20k 1.1k 18.99
iShares Barclays TIPS Bond Fund (TIP) 0.0 $22k 191.00 115.18
iShares MSCI Singapore Index Fund 0.0 $26k 2.0k 13.09
Vanguard REIT ETF (VNQ) 0.0 $16k 253.00 63.24
iShares MSCI Germany Index Fund (EWG) 0.0 $20k 844.00 23.70
iShares MSCI Switzerland Index Fund (EWL) 0.0 $19k 756.00 25.13
iShares MSCI France Index (EWQ) 0.0 $19k 858.00 22.14
Eaton Vance Limited Duration Income Fund (EVV) 0.0 $11k 700.00 15.71
Nuveen California Municipal Value Fund (NCA) 0.0 $10k 1.0k 10.00
SPDR Barclays Cptl Shrt Term Corp Bd ETF (SPSB) 0.0 $25k 830.00 30.12
Eaton Vance California Mun. Income Trust (CEV) 0.0 $15k 1.1k 13.55
Nuveen Ins Ca Tx Fr Adv Mun (NKX) 0.0 $14k 1.0k 14.00
Nuveen California Select Qlty Mun Inc Fu 0.0 $16k 1.0k 16.00
Eaton Vance Calif Mun Bd 0.0 $12k 1.0k 12.00
Morgan Stanley California Quality (IQC) 0.0 $14k 1.0k 14.00
Nuveen Insured California Premium Income (NPC) 0.0 $15k 1.0k 15.00
Nuveen CA Dividend Advantage Muni. Fund (NAC) 0.0 $14k 1.0k 14.00
Nuveen CA Div Adv Muni Fd 3 Ben Int 0.0 $14k 1.0k 14.00
Market Vectors Inv Gr 0.0 $21k 900.00 23.33
Time Warner Cable 0.0 $999.960000 12.00 83.33
Health Care SPDR (XLV) 0.0 $7.0k 182.00 38.46
Walt Disney Company (DIS) 0.0 $3.0k 75.00 40.00
Intel Corporation (INTC) 0.0 $6.0k 203.00 29.56
Nokia Corporation (NOK) 0.0 $5.0k 1.0k 5.00
Aol 0.0 $0 4.00 0.00
Telefonaktiebolaget LM Ericsson (ERIC) 0.0 $0 30.00 0.00
International Business Machines (IBM) 0.0 $7.0k 35.00 200.00
Pepsi (PEP) 0.0 $4.0k 58.00 68.97
Starbucks Corporation (SBUX) 0.0 $1.0k 11.00 90.91
Abercrombie & Fitch (ANF) 0.0 $0 6.00 0.00
Frontier Communications 0.0 $999.360000 288.00 3.47
Energy Select Sector SPDR (XLE) 0.0 $5.0k 71.00 70.42
Industrial SPDR (XLI) 0.0 $5.0k 141.00 35.46
JDS Uniphase Corporation 0.0 $0 1.00 0.00
PowerShares QQQ Trust, Series 1 0.0 $9.0k 139.00 64.75
Senomyx 0.0 $8.0k 3.0k 2.67
Consumer Staples Select Sect. SPDR (XLP) 0.0 $2.0k 69.00 28.99
Consumer Discretionary SPDR (XLY) 0.0 $7.0k 166.00 42.17
iShares Lehman 7-10 Yr Treas. Bond (IEF) 0.0 $8.0k 77.00 103.90
iShares Dow Jones U.S. Index Fund (IYY) 0.0 $2.0k 22.00 90.91
iShares Russell 3000 Value Index (IUSV) 0.0 $5.0k 50.00 100.00
General Motors Company (GM) 0.0 $7.0k 283.00 24.73
PowerShares Hgh Yield Corporate Bnd 0.0 $8.0k 405.00 19.75
PIMCO 15+ Year U.S. TIPS Index Fund (LTPZ) 0.0 $5.0k 75.00 66.67
Powershares Etf Tr Ii s^p500 low vol 0.0 $5.0k 195.00 25.64