Fund Evaluation Group

Fund Evaluation as of Dec. 31, 2012

Portfolio Holdings for Fund Evaluation

Fund Evaluation holds 23 positions in its portfolio as reported in the December 2012 quarterly 13F filing

Company (Ticker) Portfolio Weight Valued At Change in Shares Share Count Share Price
iShares Russell Midcap Index Fund (IWR) 49.1 $125M 1.1M 113.10
PowerShares DB Com Indx Trckng Fund 21.9 $56M 2.0M 27.78
Jp Morgan Alerian Mlp Index 19.7 $50M 1.3M 38.46
iShares Russell 2000 Value Index (IWN) 1.6 $4.0M 52k 75.51
iShares MSCI Emerging Markets Indx (EEM) 1.1 $2.9M 65k 44.36
ISHARES TR MSCI Small Cap msci small cap (SCZ) 1.0 $2.5M 61k 40.70
Ishares Inc .................... emkts valu idx 0.8 $2.0M 39k 50.88
iShares Russell 1000 Growth Index (IWF) 0.7 $1.8M 27k 65.48
iShares S&P 500 Index (IVV) 0.6 $1.5M 11k 143.16
SPDR Gold Trust (GLD) 0.6 $1.5M 9.2k 161.97
Scripps Networks Interactive 0.6 $1.4M 24k 57.92
Comcast Corporation 0.5 $1.2M 33k 35.93
iShares S&P 100 Index (OEF) 0.3 $758k 12k 64.68
SPDR DJ Wilshire REIT (RWR) 0.3 $747k 10k 72.95
iShares MSCI ACWI ex US Index Fund (ACWX) 0.2 $478k 11k 41.86
Vanguard Emerging Markets ETF (VWO) 0.2 $469k 11k 44.54
Vanguard FTSE All-World ex-US ETF (VEU) 0.2 $453k 9.9k 45.71
SPDR S&P Metals and Mining (XME) 0.2 $461k 10k 45.11
iShares Russell 2000 Index (IWM) 0.1 $370k 4.4k 84.28
iShares Gold Trust 0.1 $389k 24k 16.27
PowerShares FTSE RAFI US 1000 0.1 $255k 4.1k 62.35
Fifth Third Ban (FITB) 0.1 $159k 11k 15.22
Build-A-Bear Workshop (BBW) 0.0 $47k 12k 3.78