Windhaven Investment

Windhaven Investment as of Dec. 31, 2010

Portfolio Holdings for Windhaven Investment

Windhaven Investment holds 90 positions in its portfolio as reported in the December 2010 quarterly 13F filing

Company (Ticker) Portfolio Weight Valued At Change in Shares Share Count Share Price
Vanguard Total Stock Market ETF (VTI) 11.5 $523M 8.1M 64.91
SPDR S&P Emerging Markets Small Cap (EWX) 10.3 $469M 8.2M 56.99
SPDR Gold Trust (GLD) 8.6 $392M 2.8M 138.66
Vanguard REIT ETF (VNQ) 7.9 $358M 6.5M 55.35
SPDR S&P Dividend (SDY) 7.8 $357M 6.9M 51.95
Vanguard Total Bond Market ETF (BND) 7.5 $340M 4.2M 80.22
Vanguard Dividend Appreciation ETF (VIG) 5.3 $240M 4.6M 52.61
iShares Barclays TIPS Bond Fund (TIP) 5.0 $225M 2.1M 107.46
PIMCO 15+ Year U.S. TIPS Index Fund (LTPZ) 4.7 $214M 3.9M 54.33
iShares FTSE/Xinhua China 25 Index (FXI) 4.2 $191M 4.4M 43.07
PIMCO Enhanced Short Mat Str Fund ETF (MINT) 3.8 $171M 1.7M 100.66
WisdomTree India Earnings Fund (EPI) 3.7 $170M 6.4M 26.38
PowerShares DB Com Indx Trckng Fund 3.4 $154M 5.6M 27.54
Vanguard FTSE All-World ex-US ETF (VEU) 3.1 $139M 2.9M 47.71
Wisdomtree Tr em lcl debt (ELD) 3.0 $136M 2.6M 51.99
First Trust BICK Index Fund ETF 2.9 $132M 4.0M 32.85
iShares MSCI Germany Index Fund (EWG) 2.4 $111M 4.6M 23.93
iShares Lehman 1-3 Year Treas.Bond (SHY) 2.4 $108M 1.3M 83.94
iShares Gold Trust 0.6 $27M 1.9M 13.90
SPDR Barclays Capital 1-3 Month T- 0.2 $10M 224k 45.85
SPDR DJ International Real Estate ETF (RWX) 0.2 $8.5M 219k 38.93
iShares MSCI South Korea Index Fund (EWY) 0.2 $7.8M 127k 61.19
Charles Schwab Corporation (SCHW) 0.1 $6.9M 406k 17.11
SPDR DB Int'l Govt Infl Pro Bond (WIP) 0.1 $4.8M 83k 58.11
Exxon Mobil Corporation (XOM) 0.1 $3.1M 43k 72.77
Wal-Mart Stores (WMT) 0.1 $3.0M 57k 53.55
Procter & Gamble Company (PG) 0.1 $3.4M 53k 63.53
WisdomTree Dreyfus Emerging Currency (CEW) 0.1 $2.2M 99k 22.56
Microsoft Corporation (MSFT) 0.0 $1.7M 61k 27.44
SPDR Barclays Capital Intl Tresy Bd ETF (BWX) 0.0 $1.8M 31k 58.48
PowerShares Intl. Dividend Achiev. 0.0 $1.9M 125k 15.40
Vertex Pharmaceuticals Incorporated (VRTX) 0.0 $1.6M 45k 35.03
SYSCO Corporation (SYY) 0.0 $1.4M 49k 29.18
Anadarko Petroleum Corporation 0.0 $1.5M 20k 76.15
iShares Russell 2000 Index (IWM) 0.0 $1.6M 21k 76.25
iShares MSCI Hong Kong Index Fund (EWH) 0.0 $1.5M 79k 18.76
PowerShares QQQ Trust, Series 1 0.0 $1.6M 29k 54.09
iShares iBoxx $ High Yid Corp Bond (HYG) 0.0 $1.6M 17k 90.31
iShares MSCI Singapore Index Fund 0.0 $1.5M 109k 13.85
iShares JPMorgan USD Emer Mkt Bnd Fd ETF (EMB) 0.0 $1.5M 14k 107.08
WisdomTree Dreyfus ETF BZ Real Fnd 0.0 $1.4M 52k 26.56
Coca-Cola Company (KO) 0.0 $693k 11k 65.77
Johnson & Johnson (JNJ) 0.0 $699k 11k 61.85
General Electric Company 0.0 $945k 53k 17.90
Intel Corporation (INTC) 0.0 $1.1M 52k 20.79
Sigma-Aldrich Corporation 0.0 $692k 10k 66.54
INVERNESS MED INNOVATIONS INC Com Stk 0.0 $995k 27k 36.60
Vanguard Total World Stock Idx (VT) 0.0 $821k 17k 47.79
U.S. Bancorp (USB) 0.0 $362k 13k 26.96
Berkshire Hathaway Inc. Class B 0.0 $429k 5.7k 75.13
Home Depot (HD) 0.0 $425k 12k 34.25
Merck & Co 0.0 $237k 7.6k 31.33
Teva Pharmaceutical Industries (TEVA) 0.0 $502k 9.6k 52.18
Walt Disney Company (DIS) 0.0 $496k 13k 37.49
Chevron Corporation (CVX) 0.0 $275k 3.4k 81.03
Medco Health Solutions 0.0 $571k 9.3k 61.24
Amgen (AMGN) 0.0 $236k 4.8k 49.11
Apple (AAPL) 0.0 $527k 1.8k 295.24
General Mills (GIS) 0.0 $458k 13k 35.56
International Business Machines (IBM) 0.0 $435k 3.2k 137.48
Pepsi (PEP) 0.0 $293k 4.7k 61.97
Royal Dutch Shell 0.0 $416k 6.2k 66.73
EMC Corporation 0.0 $592k 26k 22.92
Oracle Corporation (ORCL) 0.0 $344k 14k 24.26
Precision Castparts 0.0 $459k 3.3k 139.09
Investment Technology 0.0 $327k 20k 16.35
H.J. Heinz Company 0.0 $260k 5.3k 49.52
Sapient Corporation 0.0 $242k 20k 12.10
Eaton Vance 0.0 $548k 18k 30.21
FX Energy 0.0 $593k 96k 6.15
St. Jude Medical 0.0 $593k 14k 42.75
Novell 0.0 $611k 103k 5.92
Manulife Finl Corp (MFC) 0.0 $527k 31k 17.19
WisdomTree Emerging Mkts Small Cp Div (DGS) 0.0 $393k 7.2k 54.48
Vanguard Extended Market ETF (VXF) 0.0 $484k 8.9k 54.36
iShares Lehman Short Treasury Bond (SHV) 0.0 $583k 5.3k 110.27
Bank of America Corporation (BAC) 0.0 $147k 11k 13.31
3M Company (MMM) 0.0 $216k 2.8k 76.43
Vodafone 0.0 $212k 8.3k 25.47
Citi 0.0 $61k 14k 4.28
Ford Motor Company (F) 0.0 $207k 12k 16.81
Express Scripts 0.0 $209k 3.9k 54.15
Chinacast Education Corporation (CAST) 0.0 $77k 10k 7.70
Sirius XM Radio 0.0 $27k 17k 1.64
Evergreen Solar 0.0 $8.9k 16k 0.57
Allied Healthcare International (AHCI) 0.0 $184k 73k 2.52
Sonus Networks 0.0 $88k 33k 2.66
Spectranetics Corporation 0.0 $206k 40k 5.15
Yongye International 0.0 $97k 12k 8.43
PowerShares Dividend Achievers 0.0 $209k 15k 14.04