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Institutional Investment Manager
Advisory Alpha, LLC
Advisory Alpha, LLC (CIK: 0001576762) incorporated in Michigan, located at 348 S. Waverly Rd., Suite 100, Holland, MI. Institutional holdings reported to the SEC.

Institutional Holdings (2017Q1)
Portfolio Summary: 138 holdings with a total value of $289,184,000.
#
Name
Shares
Value ($)
%
Options
Notes
101 VANGUARD MORTG-BACK SEC ETF 30,780 1,620,000 0.56%
102 SPDR SER TR 64,121 1,789,000 0.62%
103 VANGUARD SCOTTSDALE FDS 20,408 1,835,000 0.63%
104 CLAYMORE EXCHANGE TRD FD TR 77,716 1,969,000 0.68%
105 VANGUARD INDEX FDS 24,115 1,992,000 0.69%
106 POWERSHARES BUILD AMERICA BOND PORTFOLIO ETF 71,701 2,105,000 0.73%
107 VANGUARD WORLD FD 16,019 2,208,000 0.76%
108 VANGUARD WORLD FD 16,842 2,284,000 0.79%
109 VANGUARD INDEX FDS 18,011 2,422,000 0.84%
110 CLAYMORE EXCHANGE TRD FD TR 121,767 2,585,000 0.89%
111 VANGUARD INDEX FDS 20,504 2,650,000 0.92%
112 SPDR INDEX SHS FDS 71,768 2,684,000 0.93%
113 ISHARES TR 70,612 2,713,000 0.94%
114 VANGUARD SCOTTSDALE FDS 49,559 3,187,000 1.10%
115 CLAYMORE EXCHANGE TRD FD TR 154,135 3,852,000 1.33%
116 ISHARES TR 38,811 4,084,000 1.41%
117 ISHARES TR 26,279 4,499,000 1.56%
118 CLAYMORE EXCHANGE TRD FD TR 190,493 4,665,000 1.61%
119 CLAYMORE EXCHANGE TRD FD TR 190,220 4,687,000 1.62%
120 VANGUARD SCOTTSDALE FDS 62,957 5,021,000 1.74%
121 ISHARES GOLD TRUST 429,952 5,164,000 1.79%
122 VANGUARD INDEX FDS 56,540 6,386,000 2.21%
123 ISHARES TR 101,583 7,025,000 2.43%
124 JPMORGAN CHASE & CO 229,697 7,406,000 2.56%
125 SPDR INDEX SHS FDSDJ GLB RL ES ETF 185,375 8,740,000 3.02%
126 POWERSHARES ETF TR II 311,201 9,044,000 3.13%
127 VANGUARD INDEX FDS 97,151 9,265,000 3.20%
128 VANGUARD INTL EQUITY INDEX F 91,320 9,288,000 3.21%
129 POWERSHARES ETF TR II 368,943 9,390,000 3.25%
130 ISHARES TR 40,170 9,391,000 3.25%
131 VANGUARD INTL EQUITY INDEX F 288,927 11,403,000 3.94%
132 SPDR SER TR 238,868 11,453,000 3.96%
133 VANGUARD INDEX FDS 95,304 11,595,000 4.01%
134 VANGUARD SCOTTSDALE FDS 134,786 11,643,000 4.03%
135 VANGUARD INDEX FDS 114,637 11,684,000 4.04%
136 SPDR SERIES TRUST 344,859 12,736,000 4.40%
137 POWERSHARES ETF TRUST II 623,934 14,515,000 5.02%
138 VANGUARD TAX-MANAGED FDS 463,749 18,121,000 6.27%
Page 3 of 3

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001576762-17-000002, filed 2017.05.12).

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.