Major Shareholders 

BAY

Name Shares
Held
% Total
Shares Held
Shares
Change
% Chg from
Prior Port
% Total
Assets
Date of
Portfolio
Star Rating
VA CollegeAmerica EuroPacific Gr 529F 14,758,566 1.78 -282,000 -1.87 1.62 12/31/2015
Dodge & Cox International Stock 8,199,050 0.99 -120,000 -1.44 1.8 12/31/2015
Vanguard Total Intl Stock Index Inv 8,013,269 0.96 139,127 1.77 0.54 12/31/2015
Artisan International Investor 6,319,241 0.76 -108,825 -1.69 4.34 12/31/2015
VA CollegeAmerica Cap World G/I 529E 3,895,000 0.47 -1,129,175 -22.47 0.64 12/31/2015
VA CollegeAmerica New Perspective 529E 3,875,000 0.47 0 0.00 0.85 12/31/2015
iShares MSCI Germany 4,329,588 0.49 -76,050 -1.73 8.94 02/08/2016
WisdomTree Europe Hedged Equity ETF 4,159,262 0.47 0 0.00 3.01 02/09/2016
Vanguard Developed Markets Idx Admiral 3,226,473 0.39 -7,014 -0.22 0.75 12/31/2015
MFS International Value A 2,879,956 0.35 -200,627 -6.51 1.44 12/31/2015
iShares MSCI Eurozone 3,262,790 0.37 0 0.00 2.63 02/08/2016
Fidelity® Diversified International 2,600,362 0.31 -7,200 -0.28 1.44 12/31/2015
MFS Instl International Equity 2,189,523 0.26 22,421 1.03 3.64 12/31/2015
Vanguard European Stock Index Inv 1,909,425 0.23 -11,004 -0.57 1.16 12/31/2015
T. Rowe Price Overseas Stock 1,616,673 0.19 21,388 1.34 1.81 12/31/2015
Fidelity® Series International Growth 1,344,100 0.16 -25,000 -1.83 1.42 12/31/2015
CREF Stock R1 1,226,850 0.15 -7,961 -0.64 0.14 12/31/2015
Oppenheimer Global A 1,169,568 0.14 0 0.00 1.45 12/31/2015
SPDR® EURO STOXX 50 ETF 1,380,518 0.16 0 0.00 4.27 02/08/2016
VA CollegeAmerica Invmt Co of Amer 529E 1,100,000 0.13 -681,500 -38.25 0.21 12/31/2015