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Institutional Investment Manager
Cambridge Investment Research Advisors, Inc.
Cambridge Investment Research Advisors, Inc. (CIK: 0001419186) incorporated in Iowa, located at 1776 Pleasant Plain Road, Fairfield, IA. Institutional holdings reported to the SEC.

Institutional Holdings (2015Q4)
Portfolio Summary: 1,577 holdings with a total value of $4,223,955,000.
#
Name
Shares
Value ($)
%
Options
Notes
1551 ISHARES TR 597,067 24,969,000 0.59%
1552 VANGUARD SPECIALIZED FUNDS 326,287 25,372,000 0.60%
1553 ISHARES TR 268,674 26,728,000 0.63%
1554 ISHARES TR 456,525 26,807,000 0.63%
1555 ISHARES TR 238,763 26,889,000 0.64%
1556 JOHNSON & JOHNSON 269,619 27,695,000 0.66%
1557 FIRST TR EXCHANGE TRADED FD 1,218,369 28,619,000 0.68%
1558 ISHARES TR 259,798 28,635,000 0.68%
1559 AT&T INC 856,526 29,473,000 0.70%
1560 BERKSHIRE HATHAWAY INC DEL 225,851 29,821,000 0.71%
1561 FIRST TR LRGE CP CORE ALPHA 705,883 30,537,000 0.72%
1562 POWERSHARES QQQ TRUST 365,591 40,895,000 0.97%
1563 GENERAL ELECTRIC CO 1,351,044 42,085,000 1.00%
1564 VANGUARD INDEX FDS 503,231 42,171,000 1.00%
1565 SSGA ACTIVE ETF TR 879,166 42,727,000 1.01%
1566 VANGUARD TAX-MANAGED FDS 1,270,413 46,650,000 1.10%
1567 EXXON MOBIL CORP 618,532 48,215,000 1.14%
1568 VANGUARD BD INDEX FDS 677,212 53,886,000 1.28%
1569 VANGUARD CHARLOTTE FDS 1,069,853 56,574,000 1.34%
1570 VANGUARD INTL EQUITY INDEX F 1,760,832 57,597,000 1.36%
1571 VANGUARD INDEX FDS 568,752 59,321,000 1.40%
1572 VANGUARD BD INDEX FDS 934,539 75,473,000 1.79%
1573 SPDR S&P 500 ETF TR 383,654 78,215,000 1.85%
1574 APPLE INC 759,301 79,924,000 1.89%
1575 ISHARES TR 545,864 111,831,000 2.65%
1576 VANGUARD STAR FDS 2,686,887 121,205,000 2.87%
1577 VANGUARD INDEX FDS 1,047,704 195,847,000 4.64%
Page 32 of 32

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001419186-16-000012, filed 2016.02.10).

From 2023-01-03 onward, the SEC requires values to be reported in nearest dollars. Earlier filings reported values in thousands; therefore, positions shown as $0 in older filings may represent actual values between $0–$999.