Research Affiliates

Research Affiliates as of March 31, 2012

Portfolio Holdings for Research Affiliates

Research Affiliates holds 18 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
iShares IBoxx $ Invest Grade Corp Bd (LQD) 15.0 $26M 222k 115.70
Market Vectors Emerging Mkts Local ETF 14.9 $26M 971k 26.28
PowerShares DB Com Indx Trckng Fund 11.5 $20M 688k 28.78
PowerShares Emerging Markets Sovere 10.0 $17M 612k 28.02
Powershares DB G10 Currency Harvest Fund 9.7 $17M 666k 25.01
PowerShares FTSE RAFI Emerging MarketETF 8.0 $14M 595k 22.92
SPDR DJ International Real Estate ETF (RWX) 4.6 $8.0M 216k 36.82
PowerShares FTSE RAFI Developed Markets 4.1 $7.0M 195k 35.83
ProShares Short QQQ 3.7 $6.3M 247k 25.64
Spdr Series Trust brcly em locl (EBND) 3.6 $6.1M 195k 31.50
ProShares Short 20+ Year Treasury ETF (TBF) 3.2 $5.4M 163k 33.23
Powershares Etf Tr Ii s^p500 low vol 3.1 $5.3M 197k 26.80
PIMCO 15+ Year U.S. TIPS Index Fund (LTPZ) 2.8 $4.9M 75k 64.65
PowerShares FTSE RAFI US 1500 Small-Mid 1.8 $3.1M 45k 68.08
SPDR DJ Wilshire REIT (RWR) 1.8 $3.0M 43k 70.84
Powershares Global Etf Trust ex us sml port 1.1 $1.9M 83k 22.53
ProShares Short S&P500 0.9 $1.5M 42k 35.75
PIMCO Enhanced Short Mat Str Fund ETF (MINT) 0.4 $715k 7.1k 101.00