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Efficient Market Advisors, LLC
> BND
| Date | Name | Ticker | Shares | Change | Value | Change | Price |
| 03/31/2017 | VANGUARD BOND INDEX FUNDS | BND | 32,411 | 3,135 | 2,628,000 | 263,000 | $81.08 |
| 12/31/2016 | VANGUARD BOND INDEX FUNDS | BND | 29,276 | 4,728 | 2,365,000 | 300,000 | $80.78 |
| 09/30/2016 | VANGUARD BOND INDEX FUNDS | BND | 24,548 | 4,195 | 2,065,000 | 349,000 | $84.12 |
| 06/30/2016 | VANGUARD BOND INDEX FUNDS | BND | 20,353 | 20,353 | 1,716,000 | 1,716,000 | $84.31 |
| 03/31/2016 | VANGUARD BOND INDEX FUNDS | BND | 17,819 | 9,534 | 1,476,000 | 806,000 | $82.83 |
| 12/31/2015 | VANGUARD BOND INDEX FUNDS | BND | 12,827 | -388 | 1,036,000 | -47,000 | $80.77 |
| 09/30/2015 | VANGUARD BOND INDEX FUNDS | BND | 13,215 | 4,930 | 1,083,000 | 413,000 | $81.95 |
| 06/30/2015 | VANGUARD BOND INDEX FUNDS | BND | 14,995 | 6,710 | 1,219,000 | 549,000 | $81.29 |
| 03/31/2015 | VANGUARD BOND INDEX FUNDS | BND | 15,150 | 6,865 | 1,263,000 | 593,000 | $83.37 |
| 12/31/2014 | VANGUARD BOND INDEX FUNDS | BND | 13,973 | 5,688 | 1,151,000 | 481,000 | $82.37 |
| 09/30/2014 | VANGUARD BOND INDEX FUNDS | BND | 13,759 | 5,474 | 1,127,000 | 457,000 | $81.91 |
| 06/30/2014 | VANGUARD BOND INDEX FUNDS | BND | 12,935 | 4,650 | 1,063,000 | 393,000 | $82.18 |
| 03/31/2014 | VANGUARD BOND INDEX FUNDS | BND | 11,134 | 2,849 | 904,000 | 234,000 | $81.19 |
| 12/31/2013 | VANGUARD BOND INDEX FUNDS | BND | 9,792 | 1,507 | 784,000 | 114,000 | $80.07 |
| 09/30/2013 | VANGUARD BOND INDEX FUNDS | BND | 8,285 | 1,149 | 670,000 | 93,000 | $80.87 |
| 06/30/2013 | VANGUARD BOND INDEX FUNDS | BND | 7,136 | 2,201 | 577,000 | 162,000 | $80.86 |
| 03/31/2013 | VANGUARD BOND INDEX FUNDS | BND | 9,019 | 4,084 | 755,000 | 340,000 | $83.71 |
| 12/31/2012 | VANGUARD BOND INDEX FUNDS | BND | 4,935 | 1,206 | 415,000 | 97,000 | $84.09 |
| 09/30/2012 | VANGUARD BOND INDEX FUNDS | BND | 3,729 | 509 | 318,000 | 46,000 | $85.28 |
| 06/30/2012 | VANGUARD BOND INDEX FUNDS | BND | 3,220 | 2,237 | 272,000 | 190,000 | $84.47 |
| 03/31/2012 | VANGUARD BOND INDEX FUNDS | BND | 983 | 832 | 82,000 | 69,000 | $83.42 |
| 12/31/2011 | VANGUARD BOND INDEX FUNDS | BND | 151 | 151 | 13,000 | 13,000 | $86.09 |
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