Efficient Market Advisors 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

OMB APPROVAL

OMB Number:		3235-0006
Expires:	Oct 31, 2018
Estimated average burden
hours per response:		23.8

COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
ABERCROMBIE & FITCH CO	CL A	002896207	0	6	SH		SOLE		0	0	6
ACADIA PHARMACEUTICALS INC	COM	004225108	38	1,200	SH		SOLE		0	0	1,200
ALIBABA GROUP HLDG LTD	SPONSORED ADS	01609W102	21	200	SH		SOLE		0	0	200
ALLIED NEVADA GOLD CORP	COM	019344100	1	800	SH		SOLE		0	0	800
AMERICAN RLTY CAP PPTYS INC	COM	02917T104	5	500	SH		SOLE		0	0	500
AOL INC	COM	00184X105	0	4	SH		SOLE		0	0	4
APPLE INC	COM	037833100	58	525	SH		SOLE		0	0	525
AT&T INC	COM	00206R102	128	3,809	SH		SOLE		0	0	3,809
BANK AMER CORP	COM	060505104	18	1,000	SH		SOLE		0	0	1,000
BARRICK GOLD CORP	COM	067901108	8	700	SH		SOLE		0	0	700
BLACKROCK MUNIHLDNGS CALI QL	COM	09254L107	72	4,950	SH		SOLE		0	0	4,950
BOSTON SCIENTIFIC CORP	COM	101137107	1	86	SH		SOLE		0	0	86
CARNIVAL CORP	PAIRED CTF	143658300	5	100	SH		SOLE		0	0	100
CHEVRON CORP NEW	COM	166764100	135	1,200	SH		SOLE		0	0	1,200
CISCO SYS INC	COM	17275R102	28	1,000	SH		SOLE		0	0	1,000
CITIGROUP INC	COM NEW	172967424	11	200	SH		SOLE		0	0	200
COCA COLA CO	COM	191216100	21	500	SH		SOLE		0	0	500
COSTCO WHSL CORP NEW	COM	22160K105	257	1,810	SH		SOLE		0	0	1,810
CPI AEROSTRUCTURES INC	COM NEW	125919308	93	9,100	SH		SOLE		0	0	9,100
CUTWATER SELECT INCOME FD	COM	232229104	141	7,307	SH		SOLE		0	0	7,307
DBX ETF TR	DB XTR MSCI EUR	233051853	11,013	422,757	SH		SOLE		0	0	422,757
DBX ETF TR	DB XTR MSCI EUR	233051853	16	614	SH		SOLE		0	0	614
DEERE & CO	COM	244199105	18	200	SH		SOLE		0	0	200
DISNEY WALT CO	COM DISNEY	254687106	7	75	SH		SOLE		0	0	75
EATON VANCE CA MUNI INCOME T	SH BEN INT	27826F101	14	1,107	SH		SOLE		0	0	1,107
EATON VANCE CALIF MUN BD FD	COM	27828C106	13	1,000	SH		SOLE		0	0	1,000
EATON VANCE LTD DUR INCOME F	COM	27828H105	9	648	SH		SOLE		0	0	648
EXETER RES CORP	COM	301835104	2	3,000	SH		SOLE		0	0	3,000
EXXON MOBIL CORP	COM	30231G102	129	1,400	SH		SOLE		0	0	1,400
FACEBOOK INC	CL A	30303M102	86	1,100	SH		SOLE		0	0	1,100
FIRST TR EXCHAN TRADED FD VI	FST TR GLB FD	33739H101	161	6,124	SH		SOLE		0	0	6,124
FORD MTR CO DEL	COM PAR $0.01	345370860	78	5,000	SH		SOLE		0	0	5,000
FRONTIER COMMUNICATIONS CORP	COM	35906A108	2	288	SH		SOLE		0	0	288
FS INVT CORP	COM	302635107	43	4,346	SH		SOLE		0	0	4,346
GENERAL ELECTRIC CO	COM	369604103	96	3,786	SH		SOLE		0	0	3,786
GENERAL MTRS CO	*W EXP 07/10/201	37045V118	0	8	SH		SOLE		0	0	8
GENERAL MTRS CO	*W EXP 07/10/201	37045V126	0	8	SH		SOLE		0	0	8
GENERAL MTRS CO	COM	37045V100	0	9	SH		SOLE		0	0	9
GOLDMAN SACHS GROUP INC	COM	38141G104	78	400	SH		SOLE		0	0	400
GOOGLE INC	CL A	38259P508	21	40	SH		SOLE		0	0	40
GOOGLE INC	CL C	38259P706	21	40	SH		SOLE		0	0	40
HEALTHCARE TR AMER INC	CL A NEW	42225P501	39	1,463	SH		SOLE		0	0	1,463
HOME DEPOT INC	COM	437076102	194	1,850	SH		SOLE		0	0	1,850
HUMANA INC	COM	444859102	59	410	SH		SOLE		0	0	410
INTEL CORP	COM	458140100	7	200	SH		SOLE		0	0	200
INTERNATIONAL BUSINESS MACHS	COM	459200101	22	135	SH		SOLE		0	0	135
INVESCO CALIF VALUE MUN INC	COM	46132H106	14	1,083	SH		SOLE		0	0	1,083
ISHARES	1-3 YR CR BD ETF	464288646	23,691	225,241	SH		SOLE		0	0	225,241
ISHARES	IBOXX HI YD ETF	464288513	4,511	50,345	SH		SOLE		0	0	50,345
ISHARES	JP MOR EM MK ETF	464288281	2,488	22,678	SH		SOLE		0	0	22,678
ISHARES	MSCI AUST ETF	464286103	30	1,358	SH		SOLE		0	0	1,358
ISHARES	MSCI BRZ CAP ETF	464286400	17	472	SH		SOLE		0	0	472
ISHARES	MSCI FRANCE ETF	464286707	21	858	SH		SOLE		0	0	858
ISHARES	MSCI GERMANY ETF	464286806	41	1,503	SH		SOLE		0	0	1,503
ISHARES	MSCI HONG KG ETF	464286871	29	1,408	SH		SOLE		0	0	1,408
ISHARES	MSCI JAPAN ETF	464286848	61	5,386	SH		SOLE		0	0	5,386
ISHARES	MSCI MEX CAP ETF	464286822	11	181	SH		SOLE		0	0	181
ISHARES	MSCI SINGAP ETF	464286673	12	912	SH		SOLE		0	0	912
ISHARES	MSCI SZ CAP ETF	464286749	24	756	SH		SOLE		0	0	756
ISHARES	U.S. PFD STK ETF	464288687	8,858	224,584	SH		SOLE		0	0	224,584
ISHARES INC	CORE MSCI EMKT	46434G103	6,156	130,893	SH		SOLE		0	0	130,893
ISHARES TR	1-3 YR TR BD ETF	464287457	345	4,090	SH		SOLE		0	0	4,090
ISHARES TR	COHEN&STEER REIT	464287564	18	188	SH		SOLE		0	0	188
ISHARES TR	CORE MSCI EAFE	46432F842	2,427	43,880	SH		SOLE		0	0	43,880
ISHARES TR	CORE S&P MCP ETF	464287507	50,054	345,679	SH		SOLE		0	0	345,679
ISHARES TR	CORE S&P MCP ETF	464287507	105	723	SH		SOLE		0	0	723
ISHARES TR	CORE S&P SCP ETF	464287804	63	553	SH		SOLE		0	0	553
ISHARES TR	CORE S&P SCP ETF	464287804	27,069	237,321	SH		SOLE		0	0	237,321
ISHARES TR	CORE S&P500 ETF	464287200	33	160	SH		SOLE		0	0	160
ISHARES TR	CORE US AGGBD ET	464287226	65	587	SH		SOLE		0	0	587
ISHARES TR	CUR HDG MS EMU	46434V639	2,457	99,829	SH		SOLE		0	0	99,829
ISHARES TR	DOW JONES US ETF	464287846	2	17	SH		SOLE		0	0	17
ISHARES TR	FLTG RATE BD ETF	46429B655	60,635	1,199,750	SH		SOLE		0	0	1,199,750
ISHARES TR	FLTG RATE BD ETF	46429B655	26	522	SH		SOLE		0	0	522
ISHARES TR	IBOXX INV CP ETF	464287242	1	11	SH		SOLE		0	0	11
ISHARES TR	MSCI EAFE ETF	464287465	861	14,153	SH		SOLE		0	0	14,153
ISHARES TR	MSCI EMG MKT ETF	464287234	16	410	SH		SOLE		0	0	410
ISHARES TR	MSCI UTD KNGDM	46434V548	60	3,324	SH		SOLE		0	0	3,324
ISHARES TR	RUSSELL 2000 ETF	464287655	4,739	39,616	SH		SOLE		0	0	39,616
ISHARES TR	S&P 500 GRWT ETF	464287309	11	100	SH		SOLE		0	0	100
ISHARES TR	SELECT DIVID ETF	464287168	2	26	SH		SOLE		0	0	26
JDS UNIPHASE CORP	COM PAR $0.001	46612J507	0	1	SH		SOLE		0	0	1
JOHNSON & JOHNSON	COM	478160104	42	400	SH		SOLE		0	0	400
JPMORGAN CHASE & CO	COM	46625H100	19	300	SH		SOLE		0	0	300
LEIDOS HLDGS INC	COM	525327102	1	23	SH		SOLE		0	0	23
LINN ENERGY LLC	UNIT LTD LIAB	536020100	6	600	SH		SOLE		0	0	600
MARCUS & MILLICHAP INC	COM	566324109	1,132	34,040	SH		SOLE		0	0	34,040
MARKET VECTORS ETF TR	INVT GRD FL RT	57060U514	5,718	229,225	SH		SOLE		0	0	229,225
MARKET VECTORS ETF TR	RUSSIA ETF	57060U506	6	423	SH		SOLE		0	0	423
MCDONALDS CORP	COM	580135101	921	9,828	SH		SOLE		0	0	9,828
MERCK & CO INC NEW	COM	58933Y105	16	285	SH		SOLE		0	0	285
MFS CALIF MUN FD	COM	59318C106	55	5,000	SH		SOLE		0	0	5,000
MICROSOFT CORP	COM	594918104	93	2,000	SH		SOLE		0	0	2,000
MILLER INDS INC TENN	COM NEW	600551204	114	5,500	SH		SOLE		0	0	5,500
MOTORCAR PTS AMER INC	COM	620071100	118	3,800	SH		SOLE		0	0	3,800
NETAPP INC	COM	64110D104	767	18,500	SH		SOLE		0	0	18,500
NEWMONT MINING CORP	COM	651639106	8	400	SH		SOLE		0	0	400
NUVEEN CA DIV ADV MUNI FD 3	COM SH BEN INT	67070Y109	14	1,000	SH		SOLE		0	0	1,000
NUVEEN CA DIVIDEND ADV MUN F	COM	67066Y105	31	2,046	SH		SOLE		0	0	2,046
NUVEEN CA SELECT TAX FREE PR	SH BEN INT	67063R103	124	8,000	SH		SOLE		0	0	8,000
NUVEEN CAL AMT-FREE MUN INC	COM	670651108	30	2,023	SH		SOLE		0	0	2,023
NUVEEN CALIF MUN VALUE FD	COM	67062C107	118	11,250	SH		SOLE		0	0	11,250
NUVEEN CALIF MUNICPAL VALU F	COM	6706EB106	98	5,893	SH		SOLE		0	0	5,893
OASIS PETE INC NEW	COM	674215108	0	21	SH		SOLE		0	0	21
ORACLE CORP	COM	68389X105	36	793	SH		SOLE		0	0	793
PAYCHEX INC	COM	704326107	18	400	SH		SOLE		0	0	400
PFIZER INC	COM	717081103	62	2,000	SH		SOLE		0	0	2,000
PIMCO ETF TR	0-5 HIGH YIELD	72201R783	2,173	21,556	SH		SOLE		0	0	21,556
POWERSHARES DB CMDTY IDX TRA	UNIT BEN INT	73935S105	22	1,205	SH		SOLE		0	0	1,205
POWERSHARES ETF TR II	VAR RATE PFD POR	73937B597	13,889	563,218	SH		SOLE		0	0	563,218
POWERSHARES ETF TR II	VAR RATE PFD POR	73937B597	8	313	SH		SOLE		0	0	313
POWERSHARES ETF TRUST	GBL LSTD PVT EQT	73935X195	15,270	1,390,714	SH		SOLE		0	0	1,390,714
POWERSHARES ETF TRUST	GBL LSTD PVT EQT	73935X195	23	2,124	SH		SOLE		0	0	2,124
POWERSHARES ETF TRUST II	SENIOR LN PORT	73936Q769	7,396	307,775	SH		SOLE		0	0	307,775
POWERSHARES GLOBAL ETF TRUST	AGG PFD PORT	73936T565	158	10,767	SH		SOLE		0	0	10,767
POWERSHARES GLOBAL ETF TRUST	I-30 LAD TREAS	73936T524	0	1	SH		SOLE		0	0	1
POWERSHARES GLOBAL ETF TRUST	WK VRDO TX FR	73936T433	125	5,000	SH		SOLE		0	0	5,000
PROCTER & GAMBLE CO	COM	742718109	91	1,000	SH		SOLE		0	0	1,000
PROGRESS SOFTWARE CORP	COM	743312100	1	40	SH		SOLE		0	0	40
PROSHARES TR	PRIV EQTY-LSTD	74348A533	1,474	36,838	SH		SOLE		0	0	36,838
QUALCOMM INC	COM	747525103	22	300	SH		SOLE		0	0	300
SCHWAB STRATEGIC TR	EMRG MKTEQ ETF	808524706	93	3,904	SH		SOLE		0	0	3,904
SCHWAB STRATEGIC TR	INTL EQTY ETF	808524805	107	3,711	SH		SOLE		0	0	3,711
SCHWAB STRATEGIC TR	US AGGREGATE B	808524839	1	12	SH		SOLE		0	0	12
SCHWAB STRATEGIC TR	US BRD MKT ETF	808524102	6	120	SH		SOLE		0	0	120
SCHWAB STRATEGIC TR	US DIVIDEND EQ	808524797	0	5	SH		SOLE		0	0	5
SCHWAB STRATEGIC TR	US LRG CAP ETF	808524201	653	13,322	SH		SOLE		0	0	13,322
SCHWAB STRATEGIC TR	US MID-CAP ETF	808524508	572	14,069	SH		SOLE		0	0	14,069
SCHWAB STRATEGIC TR	US SML CAP ETF	808524607	383	6,940	SH		SOLE		0	0	6,940
SEMPRA ENERGY	COM	816851109	72	650	SH		SOLE		0	0	650
SOHU COM INC	COM	83408W103	1	14	SH		SOLE		0	0	14
SOLARCITY CORP	COM	83416T100	1	13	SH		SOLE		0	0	13
SPDR INDEX SHS FDS	DJ GLB RL ES ETF	78463X749	0	3	SH		SOLE		0	0	3
SPDR INDEX SHS FDS	EURO STOXX 50	78463X202	424	11,500	SH		SOLE		0	0	11,500
SPDR S&P 500 ETF TR	TR UNIT	78462F103	6,416	31,214	SH		SOLE		0	0	31,214
SPDR SER TR	SHT TRM HGH YLD	78468R408	18,327	633,942	SH		SOLE		0	0	633,942
SPDR SERIES TRUST	BRC HGH YLD BD	78464A417	947	24,520	SH		SOLE		0	0	24,520
SPDR SERIES TRUST	BRCLYS 1-3MT ETF	78464A680	541	11,833	SH		SOLE		0	0	11,833
SPDR SERIES TRUST	NUVN CALI MUNI	78464A441	72	3,000	SH		SOLE		0	0	3,000
SPDR SERIES TRUST	WELLS FG PFD ETF	78464A292	56	1,281	SH		SOLE		0	0	1,281
SSGA ACTIVE ETF TR	BLKSTN GSOSRLN	78467V608	3,223	66,107	SH		SOLE		0	0	66,107
STAPLES INC	COM	855030102	1	65	SH		SOLE		0	0	65
STARBUCKS CORP	COM	855244109	1	11	SH		SOLE		0	0	11
TESLA MTRS INC	COM	88160R101	1	4	SH		SOLE		0	0	4
TIME WARNER CABLE INC	COM	88732J207	2	12	SH		SOLE		0	0	12
UNITED DEV FDG IV	COM	910187103	32	1,750	SH		SOLE		0	0	1,750
VANGUARD BD INDEX FD INC	TOTAL BND MRKT	921937835	1,144	13,887	SH		SOLE		0	0	13,887
VANGUARD BD INDEX FD INC	TOTAL BND MRKT	921937835	7	86	SH		SOLE		0	0	86
VANGUARD INDEX FDS	LARGE CAP ETF	922908637	6,136	65,008	SH		SOLE		0	0	65,008
VANGUARD INDEX FDS	MID CAP ETF	922908629	3,325	26,909	SH		SOLE		0	0	26,909
VANGUARD INDEX FDS	REIT ETF	922908553	7	83	SH		SOLE		0	0	83
VANGUARD INDEX FDS	S&P 500 ETF SHS	922908363	60,531	321,290	SH		SOLE		0	0	321,290
VANGUARD INDEX FDS	S&P 500 ETF SHS	922908363	138	734	SH		SOLE		0	0	734
VANGUARD INDEX FDS	SMALL CP ETF	922908751	1,974	16,917	SH		SOLE		0	0	16,917
VANGUARD INDEX FDS	TOTAL STK MKT	922908769	1,463	13,801	SH		SOLE		0	0	13,801
VANGUARD INDEX FDS	TOTAL STK MKT	922908769	43	410	SH		SOLE		0	0	410
VANGUARD INTL EQUITY INDEX F	ALLWRLD EX US	922042775	1,644	35,085	SH		SOLE		0	0	35,085
VANGUARD INTL EQUITY INDEX F	ALLWRLD EX US	922042775	12	260	SH		SOLE		0	0	260
VANGUARD INTL EQUITY INDEX F	FTSE EMR MKT ETF	922042858	38	962	SH		SOLE		0	0	962
VANGUARD INTL EQUITY INDEX F	FTSE EMR MKT ETF	922042858	18,973	474,085	SH		SOLE		0	0	474,085
VANGUARD INTL EQUITY INDEX F	FTSE EUROPE ETF	922042874	330	6,293	SH		SOLE		0	0	6,293
VANGUARD INTL EQUITY INDEX F	TT WRLD ST ETF	922042742	2	39	SH		SOLE		0	0	39
VANGUARD SCOTTSDALE FDS	SHRT TRM CORP BD	92206C409	306	3,844	SH		SOLE		0	0	3,844
VANGUARD SPECIALIZED PORTFOL	DIV APP ETF	921908844	330	4,063	SH		SOLE		0	0	4,063
VANGUARD TAX MANAGED INTL FD	FTSE DEV MKT ETF	921943858	20,677	545,861	SH		SOLE		0	0	545,861
VANGUARD TAX MANAGED INTL FD	FTSE DEV MKT ETF	921943858	36	951	SH		SOLE		0	0	951
VANGUARD WHITEHALL FDS INC	EMERG MKT BD ETF	921946885	828	10,848	SH		SOLE		0	0	10,848
VERIZON COMMUNICATIONS INC	COM	92343V104	56	1,200	SH		SOLE		0	0	1,200
VIOLIN MEMORY INC	COM	92763A101	113	23,500	SH		SOLE		0	0	23,500
VMWARE INC	CL A COM	928563402	1	11	SH		SOLE		0	0	11