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
ABBOTT LABS	COM	002824100	8	211	SH		SOLE		0	0	211
AMERICAN EXPRESS CO	COM	025816109	56	754	SH		SOLE		0	0	754
AMERICAN INTL GROUP INC	COM NEW	026874784	1	22	SH		SOLE		0	0	22
APPLE INC	COM	037833100	49	445	SH		SOLE		0	0	445
AT&T INC	COM	00206R102	124	3,809	SH		SOLE		0	0	3,809
BANK AMER CORP	COM	060505104	16	1,056	SH		SOLE		0	0	1,056
BARRICK GOLD CORP	COM	067901108	4	700	SH		SOLE		0	0	700
BERKSHIRE HATHAWAY INC DEL	CL B NEW	084670702	60	457	SH		SOLE		0	0	457
BLACKROCK MUNIHLDNGS CALI QL	COM	09254L107	71	4,950	SH		SOLE		0	0	4,950
BOEING CO	COM	097023105	1	5	SH		SOLE		0	0	5
CA INC	COM	12673P105	1	33	SH		SOLE		0	0	33
CARNIVAL CORP	PAIRED CTF	143658300	5	100	SH		SOLE		0	0	100
CARPENTER TECHNOLOGY CORP	COM	144285103	1	19	SH		SOLE		0	0	19
CATERPILLAR INC DEL	COM	149123101	20	300	SH		SOLE		0	0	300
CHEVRON CORP NEW	COM	166764100	95	1,200	SH		SOLE		0	0	1,200
CISCO SYS INC	COM	17275R102	58	2,200	SH		SOLE		0	0	2,200
CIT GROUP INC	COM NEW	125581801	1	13	SH		SOLE		0	0	13
CITIGROUP INC	COM NEW	172967424	11	228	SH		SOLE		0	0	228
CNO FINL GROUP INC	COM	12621E103	1	57	SH		SOLE		0	0	57
COACH INC	COM	189754104	1	18	SH		SOLE		0	0	18
COCA COLA CO	COM	191216100	20	500	SH		SOLE		0	0	500
COGNIZANT TECHNOLOGY SOLUTIO	CL A	192446102	1	20	SH		SOLE		0	0	20
COSTCO WHSL CORP NEW	COM	22160K105	262	1,810	SH		SOLE		0	0	1,810
CPI AEROSTRUCTURES INC	COM NEW	125919308	47	5,300	SH		SOLE		0	0	5,300
CUTWATER SELECT INCOME FD	COM	232229104	139	7,307	SH		SOLE		0	0	7,307
CVS HEALTH CORP	COM	126650100	1	8	SH		SOLE		0	0	8
DANAHER CORP DEL	COM	235851102	1	8	SH		SOLE		0	0	8
DBX ETF TR	DB XTR MSCI EUR	233051853	14,130	565,425	SH		SOLE		0	0	565,425
DISNEY WALT CO	COM DISNEY	254687106	8	75	SH		SOLE		0	0	75
DR PEPPER SNAPPLE GROUP INC	COM	26138E109	10	132	SH		SOLE		0	0	132
EATON VANCE CA MUNI INCOME T	SH BEN INT	27826F101	15	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
EXETER RES CORP	COM	301835104	1	3,000	SH		SOLE		0	0	3,000
EXPRESS SCRIPTS HLDG CO	COM	30219G108	1	10	SH		SOLE		0	0	10
EXXON MOBIL CORP	COM	30231G102	141	1,900	SH		SOLE		0	0	1,900
FACEBOOK INC	CL A	30303M102	81	904	SH		SOLE		0	0	904
FIDELITY NATL INFORMATION SV	COM	31620M106	1	9	SH		SOLE		0	0	9
FIRST TR EXCHAN TRADED FD VI	FST TR GLB FD	33739H101	17,045	766,746	SH		SOLE		0	0	766,746
FORD MTR CO DEL	COM PAR $0.01	345370860	54	4,000	SH		SOLE		0	0	4,000
FRONTIER COMMUNICATIONS CORP	COM	35906A108	1	288	SH		SOLE		0	0	288
FS INVT CORP	COM	302635107	41	4,346	SH		SOLE		0	0	4,346
GENERAL ELECTRIC CO	COM	369604103	116	4,584	SH		SOLE		0	0	4,584
GLOBAL NET LEASE INC	COM	379378102	29	3,100	SH		SOLE		0	0	3,100
GOLDMAN SACHS GROUP INC	COM	38141G104	70	400	SH		SOLE		0	0	400
GOLDMAN SACHS MLP ENERGY REN	COM	38148G107	2	300	SH		SOLE		0	0	300
HEALTHCARE TR AMER INC	CL A NEW	42225P501	36	1,463	SH		SOLE		0	0	1,463
HERBALIFE LTD	COM USD SHS	G4412G101	1	13	SH		SOLE		0	0	13
HOME DEPOT INC	COM	437076102	241	2,086	SH		SOLE		0	0	2,086
HUMANA INC	COM	444859102	72	400	SH		SOLE		0	0	400
INTEL CORP	COM	458140100	6	200	SH		SOLE		0	0	200
INTERNATIONAL BUSINESS MACHS	COM	459200101	20	135	SH		SOLE		0	0	135
INVESCO CALIF VALUE MUN INC	COM	46132H106	14	1,083	SH		SOLE		0	0	1,083
ISHARES	MSCI AUST ETF	464286103	18	990	SH		SOLE		0	0	990
ISHARES	MSCI BRZ CAP ETF	464286400	10	472	SH		SOLE		0	0	472
ISHARES	MSCI CDA ETF	464286509	14	598	SH		SOLE		0	0	598
ISHARES	MSCI EURZONE ETF	464286608	2	72	SH		SOLE		0	0	72
ISHARES	MSCI FRANCE ETF	464286707	21	858	SH		SOLE		0	0	858
ISHARES	MSCI GERMANY ETF	464286806	26	1,051	SH		SOLE		0	0	1,051
ISHARES	MSCI HONG KG ETF	464286871	14	717	SH		SOLE		0	0	717
ISHARES	MSCI JAPAN ETF	464286848	56	4,875	SH		SOLE		0	0	4,875
ISHARES	MSCI MEX CAP ETF	464286822	13	249	SH		SOLE		0	0	249
ISHARES	MSCI SINGAP ETF	464286673	13	1,269	SH		SOLE		0	0	1,269
ISHARES	MSCI STH KOR ETF	464286772	14	296	SH		SOLE		0	0	296
ISHARES	MSCI SZ CAP ETF	464286749	23	756	SH		SOLE		0	0	756
ISHARES INC	CORE MSCI EMKT	46434G103	4,213	105,614	SH		SOLE		0	0	105,614
ISHARES TR	1-3 YR CR BD ETF	464288646	19,797	188,307	SH		SOLE		0	0	188,307
ISHARES TR	1-3 YR TR BD ETF	464287457	261	3,066	SH		SOLE		0	0	3,066
ISHARES TR	20+ YR TR BD ETF	464287432	3	23	SH		SOLE		0	0	23
ISHARES TR	3-7 YR TR BD ETF	464288661	1	5	SH		SOLE		0	0	5
ISHARES TR	COHEN&STEER REIT	464287564	17	188	SH		SOLE		0	0	188
ISHARES TR	CORE MSCI EAFE	46432F842	2,703	51,188	SH		SOLE		0	0	51,188
ISHARES TR	CORE S&P MCP ETF	464287507	48,680	356,344	SH		SOLE		0	0	356,344
ISHARES TR	CORE S&P SCP ETF	464287804	30,134	282,761	SH		SOLE		0	0	282,761
ISHARES TR	CORE S&P500 ETF	464287200	74	382	SH		SOLE		0	0	382
ISHARES TR	CORE US AGGBD ET	464287226	69	628	SH		SOLE		0	0	628
ISHARES TR	CUR HD EURZN ETF	46434V639	2,214	89,281	SH		SOLE		0	0	89,281
ISHARES TR	FLTG RATE BD ETF	46429B655	43,906	870,296	SH		SOLE		0	0	870,296
ISHARES TR	IBOXX HI YD ETF	464288513	3,593	43,137	SH		SOLE		0	0	43,137
ISHARES TR	IBOXX INV CP ETF	464287242	1	11	SH		SOLE		0	0	11
ISHARES TR	INTERM CR BD ETF	464288638	5	42	SH		SOLE		0	0	42
ISHARES TR	JP MOR EM MK ETF	464288281	9,052	85,073	SH		SOLE		0	0	85,073
ISHARES TR	MBS ETF	464288588	1	6	SH		SOLE		0	0	6
ISHARES TR	MSCI EAFE ETF	464287465	918	16,021	SH		SOLE		0	0	16,021
ISHARES TR	MSCI UTD KNGDM	46434V548	57	3,493	SH		SOLE		0	0	3,493
ISHARES TR	RUS 1000 GRW ETF	464287614	5	57	SH		SOLE		0	0	57
ISHARES TR	RUS 1000 VAL ETF	464287598	8	86	SH		SOLE		0	0	86
ISHARES TR	RUS 2000 GRW ETF	464287648	1	11	SH		SOLE		0	0	11
ISHARES TR	RUS 2000 VAL ETF	464287630	1	14	SH		SOLE		0	0	14
ISHARES TR	RUS MID-CAP ETF	464287499	1	7	SH		SOLE		0	0	7
ISHARES TR	RUSSELL 2000 ETF	464287655	3,462	31,707	SH		SOLE		0	0	31,707
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
ISHARES TR	SHRT TRS BD ETF	464288679	19	170	SH		SOLE		0	0	170
ISHARES TR	U.S. PFD STK ETF	464288687	7,601	196,929	SH		SOLE		0	0	196,929
JOHNSON & JOHNSON	COM	478160104	37	400	SH		SOLE		0	0	400
JPMORGAN CHASE & CO	COM	46625H100	19	312	SH		SOLE		0	0	312
KBR INC	COM	48242W106	1	59	SH		SOLE		0	0	59
LILLY ELI & CO	COM	532457108	1	10	SH		SOLE		0	0	10
M & T BK CORP	COM	55261F104	1	5	SH		SOLE		0	0	5
MARCUS & MILLICHAP INC	COM	566324109	41	900	SH		SOLE		0	0	900
MARKET VECTORS ETF TR	INVT GRD FL RT	57060U514	2,424	97,949	SH		SOLE		0	0	97,949
MARKET VECTORS ETF TR	RUSSIA ETF	57060U506	15	976	SH		SOLE		0	0	976
MCDONALDS CORP	COM	580135101	914	9,281	SH		SOLE		0	0	9,281
MERCK & CO INC NEW	COM	58933Y105	15	297	SH		SOLE		0	0	297
MFS CALIF MUN FD	COM	59318C106	55	5,000	SH		SOLE		0	0	5,000
MICROSOFT CORP	COM	594918104	90	2,035	SH		SOLE		0	0	2,035
MILLER INDS INC TENN	COM NEW	600551204	59	3,000	SH		SOLE		0	0	3,000
MOTORCAR PTS AMER INC	COM	620071100	63	2,000	SH		SOLE		0	0	2,000
NETAPP INC	COM	64110D104	326	11,000	SH		SOLE		0	0	11,000
NEW MEDIA INVT GROUP INC	COM	64704V106	1	43	SH		SOLE		0	0	43
NEWMONT MINING CORP	COM	651639106	6	400	SH		SOLE		0	0	400
NUVEEN CA DIV ADV MUNI FD 3	COM SH BEN INT	67070Y109	13	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	122	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	119	11,250	SH		SOLE		0	0	11,250
NUVEEN CALIF MUNICPAL VALU F	COM	6706EB106	97	5,893	SH		SOLE		0	0	5,893
OCCIDENTAL PETE CORP DEL	COM	674599105	1	8	SH		SOLE		0	0	8
ORACLE CORP	COM	68389X105	29	810	SH		SOLE		0	0	810
PAYCHEX INC	COM	704326107	19	400	SH		SOLE		0	0	400
PFIZER INC	COM	717081103	64	2,027	SH		SOLE		0	0	2,027
PHILIP MORRIS INTL INC	COM	718172109	1	8	SH		SOLE		0	0	8
PIMCO ETF TR	0-5 HIGH YIELD	72201R783	2,199	23,236	SH		SOLE		0	0	23,236
PIMCO ETF TR	ENHAN SHRT MA AC	72201R833	16	155	SH		SOLE		0	0	155
POWERSHARES DB CMDTY IDX TRA	UNIT BEN INT	73935S105	8	510	SH		SOLE		0	0	510
POWERSHARES ETF TR II	VAR RATE PFD POR	73937B597	15,610	642,644	SH		SOLE		0	0	642,644
POWERSHARES ETF TRUST	GBL LSTD PVT EQT	73935X195	18,936	1,803,488	SH		SOLE		0	0	1,803,488
POWERSHARES ETF TRUST II	SENIOR LN PORT	73936Q769	19,851	861,595	SH		SOLE		0	0	861,595
POWERSHARES GLOBAL ETF TRUST	AGG PFD PORT	73936T565	154	10,587	SH		SOLE		0	0	10,587
POWERSHARES GLOBAL ETF TRUST	WK VRDO TX FR	73936T433	125	5,000	SH		SOLE		0	0	5,000
PROCTER & GAMBLE CO	COM	742718109	119	1,650	SH		SOLE		0	0	1,650
PROSHARES TR	PRIV EQTY-LSTD	74348A533	1,799	47,503	SH		SOLE		0	0	47,503
QUALCOMM INC	COM	747525103	28	515	SH		SOLE		0	0	515
SCHLUMBERGER LTD	COM	806857108	1	8	SH		SOLE		0	0	8
SCHWAB STRATEGIC TR	EMRG MKTEQ ETF	808524706	94	4,658	SH		SOLE		0	0	4,658
SCHWAB STRATEGIC TR	INTL EQTY ETF	808524805	137	5,013	SH		SOLE		0	0	5,013
SCHWAB STRATEGIC TR	US AGGREGATE B	808524839	1	12	SH		SOLE		0	0	12
SCHWAB STRATEGIC TR	US BRD MKT ETF	808524102	6	126	SH		SOLE		0	0	126
SCHWAB STRATEGIC TR	US LRG CAP ETF	808524201	441	9,630	SH		SOLE		0	0	9,630
SCHWAB STRATEGIC TR	US MID-CAP ETF	808524508	451	11,592	SH		SOLE		0	0	11,592
SCHWAB STRATEGIC TR	US SML CAP ETF	808524607	268	5,268	SH		SOLE		0	0	5,268
SELECT SECTOR SPDR TR	SBI INT-UTILS	81369Y886	9	200	SH		SOLE		0	0	200
SOLARCITY CORP	COM	83416T100	1	13	SH		SOLE		0	0	13
SPDR INDEX SHS FDS	EURO STOXX 50	78463X202	409	12,097	SH		SOLE		0	0	12,097
SPDR S&P 500 ETF TR	TR UNIT	78462F103	3,926	20,486	SH		SOLE		0	0	20,486
SPDR SER TR	SHT TRM HGH YLD	78468R408	17,441	647,409	SH		SOLE		0	0	647,409
SPDR SERIES TRUST	BRC HGH YLD BD	78464A417	557	15,620	SH		SOLE		0	0	15,620
SPDR SERIES TRUST	NUVN CALI MUNI	78464A441	72	3,000	SH		SOLE		0	0	3,000
SPDR SERIES TRUST	WELLS FG PFD ETF	78464A292	75	1,704	SH		SOLE		0	0	1,704
SSGA ACTIVE ETF TR	BLKSTN GSOSRLN	78467V608	3,152	66,001	SH		SOLE		0	0	66,001
STARBUCKS CORP	COM	855244109	1	22	SH		SOLE		0	0	22
TEKLA HEALTHCARE OPPORTUNIT	SHS	879105104	13	800	SH		SOLE		0	0	800
TESLA MTRS INC	COM	88160R101	1	4	SH		SOLE		0	0	4
TEXAS INSTRS INC	COM	882508104	1	13	SH		SOLE		0	0	13
TIME WARNER CABLE INC	COM	88732J207	2	12	SH		SOLE		0	0	12
TJX COS INC NEW	COM	872540109	1	8	SH		SOLE		0	0	8
UNITED DEV FDG IV	COM	910187103	31	1,750	SH		SOLE		0	0	1,750
UNITEDHEALTH GROUP INC	COM	91324P102	1	6	SH		SOLE		0	0	6
UNIVERSAL TECHNICAL INST INC	COM	913915104	7	2,000	SH		SOLE		0	0	2,000
VANGUARD BD INDEX FD INC	TOTAL BND MRKT	921937835	1,083	13,215	SH		SOLE		0	0	13,215
VANGUARD CHARLOTTE FDS	INTL BD IDX ETF	92203J407	4	74	SH		SOLE		0	0	74
VANGUARD INDEX FDS	LARGE CAP ETF	922908637	3,326	37,773	SH		SOLE		0	0	37,773
VANGUARD INDEX FDS	MID CAP ETF	922908629	2,437	20,888	SH		SOLE		0	0	20,888
VANGUARD INDEX FDS	REIT ETF	922908553	9	125	SH		SOLE		0	0	125
VANGUARD INDEX FDS	S&P 500 ETF SHS	922908363	54,117	307,992	SH		SOLE		0	0	307,992
VANGUARD INDEX FDS	SMALL CP ETF	922908751	1,241	11,500	SH		SOLE		0	0	11,500
VANGUARD INDEX FDS	TOTAL STK MKT	922908769	1,412	14,299	SH		SOLE		0	0	14,299
VANGUARD INTL EQUITY INDEX F	ALLWRLD EX US	922042775	1,379	32,356	SH		SOLE		0	0	32,356
VANGUARD INTL EQUITY INDEX F	FTSE EMR MKT ETF	922042858	24,696	746,341	SH		SOLE		0	0	746,341
VANGUARD INTL EQUITY INDEX F	FTSE EUROPE ETF	922042874	33	668	SH		SOLE		0	0	668
VANGUARD INTL EQUITY INDEX F	TT WRLD ST ETF	922042742	2	39	SH		SOLE		0	0	39
VANGUARD SCOTTSDALE FDS	INT-TERM CORP	92206C870	1	9	SH		SOLE		0	0	9
VANGUARD SCOTTSDALE FDS	SHRT TRM CORP BD	92206C409	888	11,139	SH		SOLE		0	0	11,139
VANGUARD SPECIALIZED PORTFOL	DIV APP ETF	921908844	484	6,566	SH		SOLE		0	0	6,566
VANGUARD TAX MANAGED INTL FD	FTSE DEV MKT ETF	921943858	26,730	749,999	SH		SOLE		0	0	749,999
VANGUARD WHITEHALL FDS INC	EMERG MKT BD ETF	921946885	1,919	25,866	SH		SOLE		0	0	25,866
VEREIT INC	COM	92339V100	4	500	SH		SOLE		0	0	500
VERISK ANALYTICS INC	COM	92345Y106	1	7	SH		SOLE		0	0	7
VERIZON COMMUNICATIONS INC	COM	92343V104	66	1,512	SH		SOLE		0	0	1,512
VIOLIN MEMORY INC	COM	92763A101	51	37,000	SH		SOLE		0	0	37,000
VISA INC	COM CL A	92826C839	2	26	SH		SOLE		0	0	26
VOYA FINL INC	COM	929089100	1	19	SH		SOLE		0	0	19
XENIA HOTELS & RESORTS INC	COM	984017103	12	698	SH		SOLE		0	0	698