ValMark Advisers

ValMark Advisers as of Dec. 31, 2011

Portfolio Holdings for ValMark Advisers

ValMark Advisers holds 44 positions in its portfolio as reported in the December 2011 quarterly 13F filing

Company (Ticker) Portfolio Weight Valued At Change in Shares Share Count Share Price
iShares Barclays TIPS Bond Fund (TIP) 11.2 $72M 615k 116.69
Vanguard FTSE All-World ex-US ETF (VEU) 10.6 $68M 1.7M 39.65
iShares S&P 500 Value Index (IVE) 10.1 $65M 1.1M 57.83
iShares S&P 500 Growth Index (IVW) 10.0 $64M 951k 67.43
iShares S&P MidCap 400 Index (IJH) 9.1 $58M 663k 87.61
iShares S&P SmallCap 600 Index (IJR) 7.5 $48M 707k 68.30
iShares IBoxx $ Invest Grade Corp Bd (LQD) 6.0 $38M 336k 113.76
iShares iBoxx $ High Yid Corp Bond (HYG) 4.3 $28M 311k 89.43
Spdr Index Shs Fds s^p global nat res (GNR) 3.6 $23M 476k 49.02
iShares Lehman 7-10 Yr Treas. Bond (IEF) 3.5 $23M 214k 105.57
SPDR DB Int'l Govt Infl Pro Bond (WIP) 3.5 $22M 394k 56.75
SPDR DJ International Real Estate ETF (RWX) 2.5 $16M 505k 31.83
Wisdomtree Tr em lcl debt (ELD) 2.5 $16M 331k 48.64
SPDR DJ Wilshire REIT (RWR) 2.4 $15M 237k 64.40
Vanguard Emerging Markets ETF (VWO) 2.0 $13M 339k 38.21
SPDR Barclays Cptl Shrt Term Corp Bd ETF (SPSB) 2.0 $13M 419k 30.11
Claymore Beacon Global Timber Index 1.8 $11M 686k 16.54
Vanguard FTSE All Wld Ex USSml Cap (VSS) 1.7 $11M 141k 77.57
First Trust BICK Index Fund ETF 1.6 $10M 455k 22.68
Powershares Senior Loan Portfo mf 1.5 $9.4M 396k 23.81
iShares Lehman 1-3 Year Treas.Bond (SHY) 0.5 $3.1M 37k 84.50
Vanguard Europe Pacific ETF (VEA) 0.4 $2.6M 85k 30.63
Sherwin-Williams Company (SHW) 0.2 $1.5M 16k 89.26
SPDR Nuveen Barclays Capital Municpl Bnd 0.2 $1.4M 60k 23.74
iShares S&P Natl AMTFr Mncpl Bd (MUB) 0.1 $992k 9.2k 108.27
Vanguard Energy ETF (VDE) 0.1 $949k 9.4k 100.82
Vanguard Materials ETF (VAW) 0.1 $926k 13k 73.16
SPDR Nvn Barclys Cptl Shrt Trm Mncpl Bnd 0.1 $715k 29k 24.33
iShares S&P US Pref Stock Idx Fnd (PFF) 0.1 $606k 17k 35.61
Merck & Co (MRK) 0.1 $517k 14k 37.71
At&t (T) 0.1 $448k 15k 30.23
iShares MSCI Emerging Markets Indx (EEM) 0.1 $392k 10k 37.96
iShares Dow Jones Select Dividend (DVY) 0.1 $413k 7.7k 53.82
Flexshares Tr mornstar upstr (GUNR) 0.1 $375k 11k 33.03
Vanguard Dividend Appreciation ETF (VIG) 0.1 $289k 5.3k 54.73
Vanguard REIT ETF (VNQ) 0.1 $330k 5.7k 57.99
SPDR Barclays Capital TIPS (SPIP) 0.1 $313k 5.4k 57.97
International Business Machines (IBM) 0.0 $267k 1.5k 183.76
Procter & Gamble Company (PG) 0.0 $278k 4.2k 66.79
Exxon Mobil Corporation (XOM) 0.0 $208k 2.5k 84.86
SPDR Gold Trust (GLD) 0.0 $201k 1.3k 152.16
First Trust ISE ChIndia Index Fund 0.0 $186k 10k 18.14
Ishares Tr fltg rate nt (FLOT) 0.0 $219k 4.5k 49.10
Fifth Third Ban (FITB) 0.0 $159k 13k 12.74