Hugh Johnson Advisors LLC Activity Q2 2005-Q2 2019

Q2 2019

			Value		Shares		↓ Weighting
VTI	New	Vanguard Total Stock Mktui	$34,660,000	–	230,928	–	10.82%	–
SPY	New	SPDR S&P 500 ETF Trui	$16,131,000	–	55,055	–	5.03%	–
IVW	New	iShares S&P 500 Growth ETFui	$11,598,000	–	64,708	–	3.62%	–
XLV	New	Select Sector SPDR Healthcareui	$10,963,000	–	118,338	–	3.42%	–
MDY	New	SPDR S&P Mid Cap 400 ETF Trui	$10,947,000	–	30,871	–	3.42%	–
DIS	New	Disney Walt Co Disneycs	$9,075,000	–	64,990	–	2.83%	–
GVI	New	iShares Interm Term Gov/Cr ETFuh	$8,527,000	–	75,940	–	2.66%	–
IVE	New	iShares S&P 500 Val ETFui	$8,207,000	–	70,404	–	2.56%	–
XLY	New	Select Sector SPDR Cons Discreui	$7,797,000	–	65,414	–	2.43%	–
TXN	New	Texas Instruments Inccs	$7,558,000	–	65,855	–	2.36%	–
CHD	New	Church & Dwight Inccs	$7,526,000	–	103,015	–	2.35%	–
AAPL	New	Apple Inccs	$7,263,000	–	36,695	–	2.27%	–
FISV	New	Fiserv Inccs	$7,001,000	–	76,794	–	2.18%	–
UNP	New	Union Pacific Corpcs	$6,979,000	–	41,272	–	2.18%	–
FRC	New	First Republic Bank San Francics	$6,508,000	–	66,642	–	2.03%	–
ABT	New	Abbott Laboratoriescs	$6,029,000	–	71,691	–	1.88%	–
XLK	New	Select Sector SPDR Tr Technoloui	$5,864,000	–	75,137	–	1.83%	–
VXUS	New	Vanguard Total Intl Stock Fui	$5,848,000	–	110,864	–	1.82%	–
CMBS	New	iShares CMBS ETFuh	$5,793,000	–	109,486	–	1.81%	–
LOW	New	Lowes Cos Inccs	$5,533,000	–	54,832	–	1.73%	–
CHKP	New	Check Point Software Tech Ltdcs	$5,481,000	–	47,412	–	1.71%	–
IJR	New	iShares Core S & P Small Capui	$5,292,000	–	67,598	–	1.65%	–
ALL	New	Allstate Corpcs	$5,210,000	–	51,237	–	1.63%	–
TRV	New	Travelers Companies Inccs	$5,150,000	–	34,446	–	1.61%	–
NVDA	New	NVIDIA Corpcs	$5,023,000	–	30,585	–	1.57%	–
XLU	New	Select Sector SPDR Utilitiesui	$4,965,000	–	83,264	–	1.55%	–
DHR	New	Danaher Corpcs	$4,945,000	–	34,602	–	1.54%	–
XLB	New	Select Sector SPDR Materialsui	$4,720,000	–	80,690	–	1.47%	–
WMT	New	Wal-Mart Stores Inccs	$4,267,000	–	38,618	–	1.33%	–
T	New	AT&T Inccs	$4,152,000	–	123,910	–	1.30%	–
XLF	New	Select Sector SPDR Financialui	$4,145,000	–	150,189	–	1.29%	–
VLO	New	Valero Energy Corpcs	$4,144,000	–	48,409	–	1.29%	–
XLC	New	Select Sector SPDR Tr Communicui	$3,949,000	–	80,232	–	1.23%	–
UTX	New	United Technologies Corpcs	$3,466,000	–	26,621	–	1.08%	–
ROP	New	Roper Technologies Inccs	$3,435,000	–	9,379	–	1.07%	–
VMBS	New	Vanguard Mortgage-Backed Secuh	$3,432,000	–	64,970	–	1.07%	–
XLRE	New	Select Sector SPDR Tr Real Estui	$3,040,000	–	82,668	–	0.95%	–
COP	New	ConocoPhillipscs	$2,931,000	–	48,056	–	0.92%	–
MSFT	New	Microsoft Corpcs	$2,546,000	–	19,007	–	0.80%	–
XOM	New	Exxon Mobil Corpcs	$2,369,000	–	30,916	–	0.74%	–
CSCO	New	Cisco Systems Inccs	$2,252,000	–	41,152	–	0.70%	–
FTV	New	Fortive Corpcs	$2,168,000	–	26,592	–	0.68%	–
MEAR	New	iShares Sht Mat Muni ETFuh	$2,048,000	–	40,851	–	0.64%	–
MUB	New	iShares National Muni ETFuh	$2,036,000	–	18,000	–	0.64%	–
JPM	New	JPMorgan Chase & Cocs	$2,002,000	–	17,910	–	0.62%	–
PFE	New	Pfizer Inccs	$1,899,000	–	43,829	–	0.59%	–
INTC	New	Intel Corpcs	$1,801,000	–	37,626	–	0.56%	–
COF	New	Capital One Financial Corpcs	$1,786,000	–	19,685	–	0.56%	–
XLI	New	Select Sector SPDR Industrialsui	$1,604,000	–	20,720	–	0.50%	–
MCD	New	McDonalds Corpcs	$1,483,000	–	7,140	–	0.46%	–
NEAR	New	iShares Sht Mat Bond ETFuh	$1,427,000	–	28,350	–	0.44%	–
XLP	New	Select Sector SPDR Consumer Stui	$1,315,000	–	22,640	–	0.41%	–
AEP	New	American Electric Power Inccs	$1,222,000	–	13,882	–	0.38%	–
PG	New	Procter And Gamble Cocs	$1,194,000	–	10,886	–	0.37%	–
NOC	New	Northrop Grumman Corpcs	$1,146,000	–	3,546	–	0.36%	–
HD	New	Home Depot Inccs	$1,138,000	–	5,471	–	0.36%	–
BDX	New	Becton Dickinson & Cocs	$1,115,000	–	4,426	–	0.35%	–
UN	New	Unilever NV NYad	$1,077,000	–	17,738	–	0.34%	–
BAX	New	Baxter Intl Inccs	$1,053,000	–	12,861	–	0.33%	–
MTB	New	M & T Bank Corpcs	$1,025,000	–	6,027	–	0.32%	–
MRK	New	Merck & Co Inccs	$1,006,000	–	12,002	–	0.31%	–
YUM	New	Yum Brands Inccs	$999,000	–	9,031	–	0.31%	–
DTE	New	DTE Energy Cocs	$1,000,000	–	7,818	–	0.31%	–
CL	New	Colgate Palmolive Cocs	$952,000	–	13,286	–	0.30%	–
JNJ	New	Johnson & Johnsoncs	$949,000	–	6,810	–	0.30%	–
FITB	New	Fifth Third Bancorpcs	$863,000	–	30,929	–	0.27%	–
IWV	New	iShares Russell 3000 ETFui	$861,000	–	4,994	–	0.27%	–
XLE	New	Select Sector SPDR Energyui	$800,000	–	12,555	–	0.25%	–
DE	New	Deere & Cocs	$763,000	–	4,607	–	0.24%	–
IJK	New	iShares S&P Mc 400Gr ETFui	$762,000	–	3,366	–	0.24%	–
BMO	New	Bank Montreal Quecs	$700,000	–	9,276	–	0.22%	–
NVS	New	Novartis AG Sp ADRad	$568,000	–	6,225	–	0.18%	–
IJJ	New	iShares S&P Mc 400VL ETFui	$548,000	–	3,436	–	0.17%	–
BND	New	Vanguard Total Bond Mktuh	$532,000	–	6,410	–	0.17%	–
YUMC	New	Yum China Holdings Inccs	$496,000	–	10,736	–	0.16%	–
DEO	New	Diageo PLC Sp ADRad	$485,000	–	2,814	–	0.15%	–
TRST	New	Trustco Bank Corp NYcs	$474,000	–	59,882	–	0.15%	–
CVS	New	CVS Health Corpcs	$432,000	–	7,925	–	0.14%	–
IBDM	New	iShares Ibonds Dec21 ETFuh	$410,000	–	16,452	–	0.13%	–
IBDC	New	iShares Ibonds Mar20 ETFuh	$380,000	–	14,540	–	0.12%	–
WM	New	Waste Management Inccs	$365,000	–	3,162	–	0.11%	–
IJT	New	iShares SP Smcp600gr ETFui	$341,000	–	1,868	–	0.11%	–
IGSB	New	iShares 1-3 Yr Cred Bond ETFuh	$307,000	–	5,750	–	0.10%	–
IBM	New	Intl Business Machinescs	$305,000	–	2,209	–	0.10%	–
AXP	New	American Express Cocs	$277,000	–	2,245	–	0.09%	–
SBUX	New	Starbucks Corpcs	$257,000	–	3,062	–	0.08%	–
IWP	New	iShares Rus Mid Cap Growth ETFui	$256,000	–	1,794	–	0.08%	–
EWL	New	iShares MSCI Sz Cap ETFui	$232,000	–	6,175	–	0.07%	–
BCSF	New	Bain Cap Specialty Fin Inccs	$226,000	–	12,141	–	0.07%	–
IJS	New	iShares SP Smcp600vl ETFui	$225,000	–	1,515	–	0.07%	–
BSV	New	Vanguard Short Term Bonduh	$206,000	–	2,557	–	0.06%	–
ABBV	New	AbbVie Inccs	$200,000	–	2,754	–	0.06%	–
AENP	New	American Energy Production Inccs	$0	–	40,804	–	0.00%	–

Q4 2018

			Value		Shares		↓ Weighting
GE	Exit	General Electric Cocs	$0	–	-18,326	–	-0.06%	–
IJS	Exit	iShares SP Smcp600vl ETFui	$0	–	-1,637	–	-0.08%	–
YUMC	Exit	Yum China Holdings Inccs	$0	–	-8,489	–	-0.08%	–
BTI	Exit	British American Tobacco PLC Sad	$0	–	-6,609	–	-0.08%	–
DEO	Exit	Diageo PLC Sp ADRad	$0	–	-2,704	–	-0.11%	–
IJT	Exit	iShares SP Smcp600gr ETFui	$0	–	-1,948	–	-0.11%	–
AXP	Exit	American Express Cocs	$0	–	-3,815	–	-0.11%	–
NVS	Exit	Novartis AG Sp ADRad	$0	–	-5,131	–	-0.12%	–
PG	Exit	Procter And Gamble Cocs	$0	–	-5,852	–	-0.14%	–
DE	Exit	Deere & Cocs	$0	–	-3,297	–	-0.14%	–
WBA	Exit	Walgreens Boots Alliance Inccs	$0	–	-7,698	–	-0.16%	–
BMO	Exit	Bank Montreal Quecs	$0	–	-7,293	–	-0.17%	–
IJJ	Exit	iShares S&P Mc 400VL ETFui	$0	–	-3,754	–	-0.17%	–
YUM	Exit	Yum Brands Inccs	$0	–	-7,194	–	-0.18%	–
XLRE	Exit	Select Sector SPDR Tr Real Estui	$0	–	-20,171	–	-0.18%	–
AEP	Exit	American Electric Power Inccs	$0	–	-9,396	–	-0.18%	–
DTE	Exit	DTE Energy Cocs	$0	–	-6,117	–	-0.18%	–
HD	Exit	Home Depot Inccs	$0	–	-3,320	–	-0.19%	–
MRK	Exit	Merck & Co Inccs	$0	–	-9,751	–	-0.19%	–
FITB	Exit	Fifth Third Bancorpcs	$0	–	-25,908	–	-0.20%	–
CL	Exit	Colgate Palmolive Cocs	$0	–	-10,878	–	-0.20%	–
BAX	Exit	Baxter Intl Inccs	$0	–	-9,987	–	-0.21%	–
UN	Exit	Unilever NV NYad	$0	–	-13,892	–	-0.21%	–
BDX	Exit	Becton Dickinson & Cocs	$0	–	-3,048	–	-0.22%	–
MTB	Exit	M & T Bank Corpcs	$0	–	-4,906	–	-0.22%	–
IJK	Exit	iShares S&P Mc 400Gr ETFui	$0	–	-3,580	–	-0.23%	–
IWV	Exit	iShares Russell 3000 ETFui	$0	–	-5,014	–	-0.24%	–
JNJ	Exit	Johnson & Johnsoncs	$0	–	-6,540	–	-0.25%	–
MCD	Exit	McDonalds Corpcs	$0	–	-5,607	–	-0.26%	–
XLE	Exit	Select Sector SPDR Energyui	$0	–	-12,395	–	-0.26%	–
NOC	Exit	Northrop Grumman Corpcs	$0	–	-2,993	–	-0.26%	–
IBDC	Exit	iShares Ibonds Mar20 ETFuh	$0	–	-43,235	–	-0.31%	–
IBDM	Exit	iShares Ibonds Dec21 ETFuh	$0	–	-46,738	–	-0.32%	–
XLP	Exit	Select Sector SPDR Consumer Stui	$0	–	-23,025	–	-0.34%	–
CSCO	Exit	Cisco Systems Inccs	$0	–	-28,514	–	-0.38%	–
INTC	Exit	Intel Corpcs	$0	–	-30,159	–	-0.39%	–
IGIB	Exit	iShares Interm Cred Bond ETFuh	$0	–	-27,190	–	-0.40%	–
JPM	Exit	JPMorgan Chase & Cocs	$0	–	-12,970	–	-0.40%	–
BSV	Exit	Vanguard Short Term Bonduh	$0	–	-19,478	–	-0.42%	–
FTV	Exit	Fortive Corpcs	$0	–	-18,142	–	-0.42%	–
BAC	Exit	Bank America Corpcs	$0	–	-53,164	–	-0.43%	–
XLC	Exit	Select Sector SPDR Tr Municatiui	$0	–	-32,860	–	-0.44%	–
	Exit	Vanguard Tl Int Stock Indexuh	$0	–	-55,788	–	-0.45%	–
XLI	Exit	Select Sector SPDR Industrialsui	$0	–	-20,700	–	-0.45%	–
PFE	Exit	Pfizer Inccs	$0	–	-39,485	–	-0.48%	–
MSFT	Exit	Microsoft Corpcs	$0	–	-15,282	–	-0.48%	–
NEAR	Exit	iShares Sht Mat Bond ETFuh	$0	–	-35,766	–	-0.50%	–
AGN	Exit	Allergan PLCcs	$0	–	-10,183	–	-0.54%	–
CELG	Exit	Celgene Corpcs	$0	–	-21,840	–	-0.54%	–
PWR	Exit	Quanta Services Inccs	$0	–	-59,110	–	-0.55%	–
UNM	Exit	Unum Groupcs	$0	–	-50,656	–	-0.55%	–
COF	Exit	Capital One Financial Corpcs	$0	–	-21,329	–	-0.56%	–
BIIB	Exit	Biogen Inccs	$0	–	-6,162	–	-0.60%	–
MEAR	Exit	iShares Sht Mat Muni ETFuh	$0	–	-48,530	–	-0.67%	–
HAL	Exit	Halliburton Cocs	$0	–	-59,932	–	-0.67%	–
ROP	Exit	Roper Technologies Inccs	$0	–	-9,039	–	-0.74%	–
BUD	Exit	Anheuser-Busch InBev SA NV Spad	$0	–	-30,626	–	-0.74%	–
XOM	Exit	Exxon Mobil Corpcs	$0	–	-31,692	–	-0.74%	–
VMBS	Exit	Vanguard Mortgage-Backed Secuh	$0	–	-55,470	–	-0.78%	–
IGSB	Exit	iShares 1-3 Yr Cred Bond ETFuh	$0	–	-59,830	–	-0.86%	–
XLK	Exit	Select Sector SPDR Tr Technoloui	$0	–	-45,130	–	-0.94%	–
UTX	Exit	United Technologies Corpcs	$0	–	-27,348	–	-1.06%	–
DHR	Exit	Danaher Corpcs	$0	–	-36,259	–	-1.09%	–
COP	Exit	ConocoPhillipscs	$0	–	-51,063	–	-1.09%	–
XLF	Exit	Select Sector SPDR Financialui	$0	–	-157,923	–	-1.20%	–
T	Exit	AT&T Inccs	$0	–	-135,818	–	-1.26%	–
XLU	Exit	Select Sector SPDR Utilitiesui	$0	–	-89,332	–	-1.30%	–
APTV	Exit	Aptiv PLCcs	$0	–	-56,080	–	-1.30%	–
TRV	Exit	Travelers Companies Inccs	$0	–	-36,805	–	-1.32%	–
ALL	Exit	Allstate Corpcs	$0	–	-50,181	–	-1.37%	–
ABT	Exit	Abbott Laboratoriescs	$0	–	-69,867	–	-1.42%	–
XLY	Exit	Select Sector SPDR Cons Discreui	$0	–	-45,742	–	-1.48%	–
XLB	Exit	Select Sector SPDR Materialsui	$0	–	-109,606	–	-1.76%	–
IJR	Exit	iShares Core S & P Small Capui	$0	–	-78,547	–	-1.90%	–
LOW	Exit	Lowes Cos Inccs	$0	–	-59,697	–	-1.90%	–
XLV	Exit	Select Sector SPDR Healthcareui	$0	–	-74,105	–	-1.95%	–
CMBS	Exit	iShares CMBS ETFuh	$0	–	-145,442	–	-2.00%	–
VXUS	Exit	Vanguard Total Intl Stock Fui	$0	–	-134,425	–	-2.01%	–
FRC	Exit	First Republic Bank San Francics	$0	–	-76,700	–	-2.04%	–
GVI	Exit	iShares Interm Term Gov/Cr ETFuh	$0	–	-68,575	–	-2.04%	–
VLO	Exit	Valero Energy Corpcs	$0	–	-65,801	–	-2.07%	–
CHD	Exit	Church & Dwight Inccs	$0	–	-140,769	–	-2.31%	–
DIS	Exit	Disney Walt Co Disneycs	$0	–	-73,218	–	-2.37%	–
IVE	Exit	iShares S&P 500 Val ETFui	$0	–	-74,778	–	-2.40%	–
CHKP	Exit	Check Point Software Tech Ltdcs	$0	–	-77,390	–	-2.52%	–
UNP	Exit	Union Pacific Corpcs	$0	–	-59,276	–	-2.67%	–
TXN	Exit	Texas Instruments Inccs	$0	–	-96,730	–	-2.87%	–
FISV	Exit	Fiserv Inccs	$0	–	-133,358	–	-3.04%	–
MDY	Exit	SPDR S&P Mid Cap 400 ETF Trui	$0	–	-33,427	–	-3.40%	–
AAPL	Exit	Apple Inccs	$0	–	-55,280	–	-3.45%	–
IVW	Exit	iShares S&P 500 Growth ETFui	$0	–	-70,733	–	-3.47%	–
NVDA	Exit	NVIDIA Corpcs	$0	–	-47,170	–	-3.67%	–
VTI	Exit	Vanguard Total Stock Mktui	$0	–	-107,357	–	-4.44%	–
SPY	Exit	SPDR S&P 500 ETF Trui	$0	–	-61,920	–	-4.98%	–
	Exit	Vanguard Total Stock Index Admuh	$0	–	-266,313	–	-5.36%	–

Q3 2018

			Value		Shares		↓ Weighting
	Buy	Vanguard Total Stock Index Admuh	$19,398,000	+7.1%	266,313	+0.5%	5.36%	+2.3%
SPY	Sell	SPDR S&P 500 ETF Trui	$18,001,000	+5.8%	61,920	-1.3%	4.98%	+1.0%
VTI	Buy	Vanguard Total Stock Mktui	$16,066,000	+78.2%	107,357	+67.3%	4.44%	+70.2%
NVDA	Buy	NVIDIA Corpcs	$13,256,000	+19.2%	47,170	+0.5%	3.67%	+13.8%
IVW	Sell	iShares S&P 500 Growth ETFui	$12,532,000	+7.1%	70,733	-1.7%	3.47%	+2.3%
AAPL	Buy	Apple Inccs	$12,479,000	+22.0%	55,280	+0.0%	3.45%	+16.5%
MDY	Sell	SPDR S&P Mid Cap 400 ETF Trui	$12,283,000	+3.4%	33,427	-0.1%	3.40%	-1.2%
FISV	Buy	Fiserv Inccs	$10,986,000	+11.7%	133,358	+0.5%	3.04%	+6.7%
TXN	Buy	Texas Instruments Inccs	$10,378,000	-2.3%	96,730	+0.4%	2.87%	-6.7%
UNP	Buy	Union Pacific Corpcs	$9,652,000	+15.5%	59,276	+0.5%	2.67%	+10.3%
CHKP	Buy	Check Point Software Tech Ltdcs	$9,106,000	+20.7%	77,390	+0.2%	2.52%	+15.3%
IVE	Sell	iShares S&P 500 Val ETFui	$8,662,000	+4.0%	74,778	-1.1%	2.40%	-0.7%
DIS	Buy	Disney Walt Co Disneycs	$8,562,000	+12.1%	73,218	+0.5%	2.37%	+7.1%
CHD	Buy	Church & Dwight Inccs	$8,357,000	+12.2%	140,769	+0.5%	2.31%	+7.1%
VLO	Buy	Valero Energy Corpcs	$7,485,000	+3.0%	65,801	+0.3%	2.07%	-1.7%
FRC	Buy	First Republic Bank San Francics	$7,363,000	-0.3%	76,700	+0.5%	2.04%	-4.8%
GVI	Sell	iShares Interm Term Gov/Cr ETFuh	$7,362,000	-0.5%	68,575	-0.1%	2.04%	-5.0%
VXUS	Sell	Vanguard Total Intl Stock Fui	$7,259,000	-53.1%	134,425	-53.0%	2.01%	-55.2%
CMBS	Sell	iShares CMBS ETFuh	$7,242,000	-3.2%	145,442	-2.6%	2.00%	-7.6%
XLV	Buy	Select Sector SPDR Healthcareui	$7,051,000	+14.3%	74,105	+0.2%	1.95%	+9.1%
LOW	Buy	Lowes Cos Inccs	$6,854,000	+20.7%	59,697	+0.5%	1.90%	+15.3%
IJR	Sell	iShares Core S & P Small Capui	$6,852,000	+4.4%	78,547	-0.1%	1.90%	-0.3%
XLB	Buy	Select Sector SPDR Materialsui	$6,349,000	+0.1%	109,606	+0.4%	1.76%	-4.4%
XLY	Sell	Select Sector SPDR Cons Discreui	$5,362,000	-2.1%	45,742	-8.7%	1.48%	-6.5%
ABT	Buy	Abbott Laboratoriescs	$5,125,000	+20.6%	69,867	+0.3%	1.42%	+15.1%
ALL	Sell	Allstate Corpcs	$4,953,000	+8.1%	50,181	-0.0%	1.37%	+3.2%
TRV	Buy	Travelers Companies Inccs	$4,774,000	+6.6%	36,805	+0.5%	1.32%	+1.8%
XLU	Buy	Select Sector SPDR Utilitiesui	$4,703,000	+1.5%	89,332	+0.2%	1.30%	-3.1%
APTV	Buy	Aptiv PLCcs	$4,705,000	-7.9%	56,080	+0.6%	1.30%	-12.0%
T	Sell	AT&T Inccs	$4,561,000	+4.0%	135,818	-0.6%	1.26%	-0.7%
XLF	Buy	Select Sector SPDR Financialui	$4,356,000	+3.8%	157,923	+0.0%	1.20%	-0.9%
COP	Buy	ConocoPhillipscs	$3,952,000	+11.7%	51,063	+0.5%	1.09%	+6.6%
DHR	Buy	Danaher Corpcs	$3,940,000	+10.8%	36,259	+0.6%	1.09%	+5.8%
UTX	Buy	United Technologies Corpcs	$3,824,000	+12.1%	27,348	+0.2%	1.06%	+7.1%
XLK	Sell	Select Sector SPDR Tr Technoloui	$3,400,000	-18.5%	45,130	-24.8%	0.94%	-22.2%
IGSB	Buy	iShares 1-3 Yr Cred Bond ETFuh	$3,101,000	-5.7%	59,830	+88.6%	0.86%	-10.0%
XOM	Sell	Exxon Mobil Corpcs	$2,694,000	+2.3%	31,692	-0.5%	0.74%	-2.4%
BUD	Buy	Anheuser-Busch InBev SA NV Spad	$2,682,000	-12.9%	30,626	+0.2%	0.74%	-16.8%
ROP	Buy	Roper Technologies Inccs	$2,678,000	+8.0%	9,039	+0.6%	0.74%	+3.2%
HAL	Buy	Halliburton Cocs	$2,429,000	-9.7%	59,932	+0.4%	0.67%	-13.7%
MEAR	Sell	iShares Sht Mat Muni ETFuh	$2,424,000	-50.1%	48,530	-50.1%	0.67%	-52.4%
BIIB	Buy	Biogen Inccs	$2,177,000	+23.1%	6,162	+1.1%	0.60%	+17.6%
COF	Buy	Capital One Financial Corpcs	$2,025,000	+3.7%	21,329	+0.4%	0.56%	-1.1%
UNM	Buy	Unum Groupcs	$1,979,000	+6.1%	50,656	+0.4%	0.55%	+1.3%
PWR	Buy	Quanta Services Inccs	$1,973,000	+0.6%	59,110	+0.6%	0.55%	-3.9%
CELG	Buy	Celgene Corpcs	$1,954,000	+13.1%	21,840	+0.4%	0.54%	+8.0%
AGN	Buy	Allergan PLCcs	$1,940,000	+15.3%	10,183	+0.8%	0.54%	+10.3%
NEAR	Sell	iShares Sht Mat Bond ETFuh	$1,795,000	-6.8%	35,766	-6.8%	0.50%	-11.0%
MSFT	Sell	Microsoft Corpcs	$1,748,000	+14.4%	15,282	-1.4%	0.48%	+9.0%
PFE	Buy	Pfizer Inccs	$1,740,000	+22.1%	39,485	+0.5%	0.48%	+16.5%
	Buy	Vanguard Tl Int Stock Indexuh	$1,620,000	+0.6%	55,788	+0.5%	0.45%	-4.1%
XLC	New	Select Sector SPDR Tr Municatiui	$1,610,000	–	32,860	–	0.44%	–
BAC	Buy	Bank America Corpcs	$1,566,000	+4.9%	53,164	+0.4%	0.43%	+0.2%
FTV	Buy	Fortive Corpcs	$1,528,000	+10.2%	18,142	+1.0%	0.42%	+5.5%
BSV	Sell	Vanguard Short Term Bonduh	$1,520,000	-8.8%	19,478	-8.6%	0.42%	-12.9%
JPM	Buy	JPMorgan Chase & Cocs	$1,464,000	+8.4%	12,970	+0.1%	0.40%	+3.6%
IGIB	Buy	iShares Interm Cred Bond ETFuh	$1,444,000	-2.5%	27,190	+95.1%	0.40%	-7.0%
INTC	Buy	Intel Corpcs	$1,426,000	-4.7%	30,159	+0.2%	0.39%	-9.2%
CSCO	Buy	Cisco Systems Inccs	$1,387,000	+13.3%	28,514	+0.2%	0.38%	+8.5%
IBDM	Sell	iShares Ibonds Dec21 ETFuh	$1,139,000	-7.8%	46,738	-7.9%	0.32%	-12.0%
IBDC	Sell	iShares Ibonds Mar20 ETFuh	$1,122,000	-3.2%	43,235	-3.5%	0.31%	-7.7%
NOC	Sell	Northrop Grumman Corpcs	$950,000	+2.8%	2,993	-0.3%	0.26%	-1.9%
XLE	Sell	Select Sector SPDR Energyui	$939,000	-0.6%	12,395	-0.4%	0.26%	-5.1%
MCD	Buy	McDonalds Corpcs	$938,000	+6.8%	5,607	+0.1%	0.26%	+2.0%
IWV	Buy	iShares Russell 3000 ETFui	$864,000	+7.1%	5,014	+0.9%	0.24%	+2.1%
IJK	Buy	iShares S&P Mc 400Gr ETFui	$834,000	+11.2%	3,580	+7.3%	0.23%	+6.5%
MTB	Sell	M & T Bank Corpcs	$807,000	-3.4%	4,906	-0.0%	0.22%	-7.9%
BDX	Sell	Becton Dickinson & Cocs	$796,000	+5.6%	3,048	-3.2%	0.22%	+0.9%
UN	Buy	Unilever NV NYad	$772,000	0.0%	13,892	+0.2%	0.21%	-4.5%
BAX	Sell	Baxter Intl Inccs	$770,000	+4.3%	9,987	-0.0%	0.21%	-0.5%
CL	Buy	Colgate Palmolive Cocs	$728,000	+3.4%	10,878	+0.2%	0.20%	-1.5%
FITB	Buy	Fifth Third Bancorpcs	$723,000	-2.6%	25,908	+0.2%	0.20%	-7.0%
MRK	Buy	Merck & Co Inccs	$692,000	+17.1%	9,751	+0.1%	0.19%	+11.7%
HD	Buy	Home Depot Inccs	$688,000	+6.3%	3,320	+0.1%	0.19%	+1.6%
DTE	Buy	DTE Energy Cocs	$668,000	+5.7%	6,117	+0.3%	0.18%	+1.1%
AEP	Buy	American Electric Power Inccs	$666,000	+2.6%	9,396	+0.3%	0.18%	-2.1%
XLRE	Buy	Select Sector SPDR Tr Real Estui	$658,000	-0.2%	20,171	+0.1%	0.18%	-4.7%
YUM	Sell	Yum Brands Inccs	$654,000	+16.2%	7,194	-0.1%	0.18%	+11.0%
IJJ	Buy	iShares S&P Mc 400VL ETFui	$628,000	+11.3%	3,754	+7.9%	0.17%	+6.7%
BMO	Sell	Bank Montreal Quecs	$602,000	+6.4%	7,293	-0.5%	0.17%	+1.2%
WBA	Sell	Walgreens Boots Alliance Inccs	$561,000	+19.9%	7,698	-1.3%	0.16%	+14.0%
DE	Sell	Deere & Cocs	$496,000	+7.6%	3,297	-0.1%	0.14%	+2.2%
PG	Buy	Procter And Gamble Cocs	$487,000	+6.8%	5,852	+0.3%	0.14%	+2.3%
NVS	Sell	Novartis AG Sp ADRad	$442,000	+13.3%	5,131	-0.7%	0.12%	+8.0%
AXP	Sell	American Express Cocs	$406,000	+4.4%	3,815	-3.8%	0.11%	-0.9%
IJT	Buy	iShares SP Smcp600gr ETFui	$393,000	+10.4%	1,948	+3.5%	0.11%	+5.8%
BTI	Buy	British American Tobacco PLC Sad	$308,000	-6.1%	6,609	+1.7%	0.08%	-10.5%
IJS	Buy	iShares SP Smcp600vl ETFui	$273,000	+6.2%	1,637	+4.1%	0.08%	+2.7%
GE	Buy	General Electric Cocs	$207,000	-16.9%	18,326	+0.3%	0.06%	-20.8%
TRST	Exit	Trustco Bank Corp NYcs	$0	–	-59,882	–	-0.15%	–
MCK	Exit	McKesson Corpcs	$0	–	-9,735	–	-0.38%	–

Q2 2018

			Value		Shares		↓ Weighting
	New	Vanguard Total Stock Index Admui	$18,113,000	–	265,048	–	5.25%	–
SPY	New	SPDR S&P 500 ETF Trui	$17,014,000	–	62,716	–	4.93%	–
VXUS	New	Vanguard Total Intl Stock Fui	$15,474,000	–	286,019	–	4.48%	–
MDY	New	SPDR S&P Mid Cap 400 ETF Trui	$11,877,000	–	33,453	–	3.44%	–
IVW	New	iShares S&P 500 Growth ETFui	$11,703,000	–	71,972	–	3.39%	–
NVDA	New	NVIDIA Corpcs	$11,123,000	–	46,954	–	3.22%	–
TXN	New	Texas Instruments Inccs	$10,619,000	–	96,319	–	3.08%	–
AAPL	New	Apple Inccs	$10,231,000	–	55,267	–	2.96%	–
FISV	New	Fiserv Inccs	$9,833,000	–	132,723	–	2.85%	–
VTI	New	Vanguard Total Stock Mktui	$9,014,000	–	64,188	–	2.61%	–
UNP	New	Union Pacific Corpcs	$8,356,000	–	58,980	–	2.42%	–
IVE	New	iShares S&P 500 Val ETFui	$8,329,000	–	75,628	–	2.41%	–
DIS	New	Disney Walt Co Disneycs	$7,637,000	–	72,866	–	2.21%	–
CHKP	New	Check Point Software Tech Ltdcs	$7,543,000	–	77,225	–	2.18%	–
CMBS	New	iShares CMBS ETFuh	$7,483,000	–	149,359	–	2.17%	–
CHD	New	Church & Dwight Inccs	$7,448,000	–	140,099	–	2.16%	–
GVI	New	iShares Interm Term Gov/Cr ETFuh	$7,400,000	–	68,675	–	2.14%	–
FRC	New	First Republic Bank San Francics	$7,387,000	–	76,316	–	2.14%	–
VLO	New	Valero Energy Corpcs	$7,268,000	–	65,579	–	2.10%	–
IJR	New	iShares Core S & P Small Capui	$6,563,000	–	78,642	–	1.90%	–
XLB	New	Select Sector SPDR Materialsui	$6,340,000	–	109,177	–	1.84%	–
XLV	New	Select Sector SPDR Healthcareui	$6,170,000	–	73,925	–	1.79%	–
LOW	New	Lowes Cos Inccs	$5,678,000	–	59,414	–	1.64%	–
XLY	New	Select Sector SPDR Cons Discreui	$5,477,000	–	50,109	–	1.59%	–
APTV	New	Aptiv PLCcs	$5,107,000	–	55,733	–	1.48%	–
MEAR	New	iShares Sht Mat Muni ETFuh	$4,859,000	–	97,242	–	1.41%	–
XLU	New	Select Sector SPDR Utilitiesui	$4,633,000	–	89,171	–	1.34%	–
ALL	New	Allstate Corpcs	$4,581,000	–	50,193	–	1.33%	–
TRV	New	Travelers Companies Inccs	$4,479,000	–	36,614	–	1.30%	–
T	New	AT&T Inccs	$4,386,000	–	136,596	–	1.27%	–
ABT	New	Abbott Laboratoriescs	$4,250,000	–	69,678	–	1.23%	–
XLF	New	Select Sector SPDR Financialui	$4,198,000	–	157,879	–	1.22%	–
XLK	New	Select Sector SPDR Tr Technoloui	$4,172,000	–	60,050	–	1.21%	–
DHR	New	Danaher Corpcs	$3,557,000	–	36,047	–	1.03%	–
COP	New	ConocoPhillipscs	$3,538,000	–	50,815	–	1.02%	–
UTX	New	United Technologies Corpcs	$3,411,000	–	27,282	–	0.99%	–
IGSB	New	iShares 1-3 Yr Cred Bond ETFuh	$3,289,000	–	31,715	–	0.95%	–
BUD	New	Anheuser-Busch InBev SA NV Spad	$3,079,000	–	30,561	–	0.89%	–
VMBS	New	Vanguard Mortgage-Backed Secuh	$2,852,000	–	55,470	–	0.83%	–
HAL	New	Halliburton Cocs	$2,690,000	–	59,701	–	0.78%	–
XOM	New	Exxon Mobil Corpcs	$2,634,000	–	31,842	–	0.76%	–
ROP	New	Roper Technologies Inccs	$2,480,000	–	8,989	–	0.72%	–
PWR	New	Quanta Services Inccs	$1,962,000	–	58,755	–	0.57%	–
COF	New	Capital One Financial Corpcs	$1,953,000	–	21,248	–	0.57%	–
NEAR	New	iShares Sht Mat Bond ETFuh	$1,925,000	–	38,361	–	0.56%	–
UNM	New	Unum Groupcs	$1,866,000	–	50,443	–	0.54%	–
BIIB	New	Biogen Inccs	$1,768,000	–	6,092	–	0.51%	–
CELG	New	Celgene Corpcs	$1,727,000	–	21,750	–	0.50%	–
AGN	New	Allergan PLCcs	$1,683,000	–	10,098	–	0.49%	–
BSV	New	Vanguard Short Term Bonduh	$1,666,000	–	21,301	–	0.48%	–
	New	Vanguard Tl Int Stock Indexui	$1,611,000	–	55,514	–	0.47%	–
MSFT	New	Microsoft Corpcs	$1,528,000	–	15,500	–	0.44%	–
INTC	New	Intel Corpcs	$1,497,000	–	30,106	–	0.43%	–
BAC	New	Bank America Corpcs	$1,493,000	–	52,966	–	0.43%	–
XLI	New	Select Sector SPDR Industrialsui	$1,483,000	–	20,700	–	0.43%	–
IGIB	New	iShares Interm Cred Bond ETFuh	$1,481,000	–	13,940	–	0.43%	–
PFE	New	Pfizer Inccs	$1,425,000	–	39,284	–	0.41%	–
FTV	New	Fortive Corpcs	$1,386,000	–	17,969	–	0.40%	–
JPM	New	JPMorgan Chase & Cocs	$1,350,000	–	12,960	–	0.39%	–
MCK	New	McKesson Corpcs	$1,299,000	–	9,735	–	0.38%	–
IBDM	New	iShares Ibonds Dec21 ETFuh	$1,236,000	–	50,721	–	0.36%	–
CSCO	New	Cisco Systems Inccs	$1,224,000	–	28,443	–	0.35%	–
XLP	New	Select Sector SPDR Consumer Stui	$1,186,000	–	23,025	–	0.34%	–
IBDC	New	iShares Ibonds Mar20 ETFuh	$1,159,000	–	44,787	–	0.34%	–
XLE	New	Select Sector SPDR Energyui	$945,000	–	12,449	–	0.27%	–
NOC	New	Northrop Grumman Corpcs	$924,000	–	3,001	–	0.27%	–
MCD	New	McDonalds Corpcs	$878,000	–	5,602	–	0.25%	–
MTB	New	M & T Bank Corpcs	$835,000	–	4,907	–	0.24%	–
IWV	New	iShares Russell 3000 ETFui	$807,000	–	4,971	–	0.23%	–
JNJ	New	Johnson & Johnsoncs	$794,000	–	6,540	–	0.23%	–
UN	New	Unilever NV NYad	$772,000	–	13,860	–	0.22%	–
BDX	New	Becton Dickinson & Cocs	$754,000	–	3,148	–	0.22%	–
IJK	New	iShares S&P Mc 400Gr ETFui	$750,000	–	3,335	–	0.22%	–
FITB	New	Fifth Third Bancorpcs	$742,000	–	25,858	–	0.22%	–
BAX	New	Baxter Intl Inccs	$738,000	–	9,989	–	0.21%	–
CL	New	Colgate Palmolive Cocs	$704,000	–	10,861	–	0.20%	–
XLRE	New	Select Sector SPDR Tr Real Estui	$659,000	–	20,156	–	0.19%	–
AEP	New	American Electric Power Inccs	$649,000	–	9,365	–	0.19%	–
HD	New	Home Depot Inccs	$647,000	–	3,318	–	0.19%	–
DTE	New	DTE Energy Cocs	$632,000	–	6,099	–	0.18%	–
MRK	New	Merck & Co Inccs	$591,000	–	9,740	–	0.17%	–
BMO	New	Bank Montreal Quecs	$566,000	–	7,330	–	0.16%	–
YUM	New	Yum Brands Inccs	$563,000	–	7,204	–	0.16%	–
IJJ	New	iShares S&P Mc 400VL ETFui	$564,000	–	3,479	–	0.16%	–
TRST	New	Trustco Bank Corp NYcs	$533,000	–	59,882	–	0.15%	–
WBA	New	Walgreens Boots Alliance Inccs	$468,000	–	7,801	–	0.14%	–
DE	New	Deere & Cocs	$461,000	–	3,300	–	0.13%	–
PG	New	Procter And Gamble Cocs	$456,000	–	5,837	–	0.13%	–
DEO	New	Diageo PLC Sp ADRad	$389,000	–	2,704	–	0.11%	–
AXP	New	American Express Cocs	$389,000	–	3,965	–	0.11%	–
NVS	New	Novartis AG Sp ADRad	$390,000	–	5,166	–	0.11%	–
IJT	New	iShares SP Smcp600gr ETFui	$356,000	–	1,883	–	0.10%	–
BTI	New	British American Tobacco PLC Sad	$328,000	–	6,499	–	0.10%	–
YUMC	New	Yum China Holdings Inccs	$327,000	–	8,489	–	0.10%	–
IJS	New	iShares SP Smcp600vl ETFui	$257,000	–	1,572	–	0.07%	–
GE	New	General Electric Cocs	$249,000	–	18,274	–	0.07%	–

Q4 2017

			Value		Shares		↓ Weighting
IBM	Exit	Intl Business Machinescs	$0	–	-1,403	–	-0.06%	–
KO	Exit	Coca-Cola Cocs	$0	–	-4,561	–	-0.06%	–
IJT	Exit	iShares SP Smcp600gr ETFui	$0	–	-1,623	–	-0.08%	–
YUMC	Exit	Yum China Holdings Inccs	$0	–	-7,458	–	-0.09%	–
DEO	Exit	Diageo PLC Sp ADRad	$0	–	-2,508	–	-0.10%	–
BTI	Exit	British American Tobacco PLC Sad	$0	–	-5,815	–	-0.11%	–
DE	Exit	Deere & Cocs	$0	–	-2,914	–	-0.11%	–
IJJ	Exit	iShares S&P Mc 400VL ETFui	$0	–	-2,589	–	-0.12%	–
NVS	Exit	Novartis AG Sp ADRad	$0	–	-4,701	–	-0.12%	–
AXP	Exit	American Express Cocs	$0	–	-4,750	–	-0.13%	–
YUM	Exit	Yum Brands Inccs	$0	–	-6,382	–	-0.14%	–
HD	Exit	Home Depot Inccs	$0	–	-2,974	–	-0.15%	–
GE	Exit	General Electric Cocs	$0	–	-20,270	–	-0.15%	–
BMO	Exit	Bank Montreal Quecs	$0	–	-6,537	–	-0.15%	–
PG	Exit	Procter And Gamble Cocs	$0	–	-5,568	–	-0.15%	–
BDX	Exit	Becton Dickinson & Cocs	$0	–	-2,618	–	-0.15%	–
TRST	Exit	Trustco Bank Corp NYcs	$0	–	-59,882	–	-0.16%	–
IJK	Exit	iShares S&P Mc 400Gr ETFui	$0	–	-2,720	–	-0.16%	–
BAX	Exit	Baxter Intl Inccs	$0	–	-8,794	–	-0.17%	–
MRK	Exit	Merck & Co Inccs	$0	–	-8,905	–	-0.17%	–
DTE	Exit	DTE Energy Cocs	$0	–	-5,386	–	-0.17%	–
AEP	Exit	American Electric Power Inccs	$0	–	-8,285	–	-0.18%	–
FITB	Exit	Fifth Third Bancorpcs	$0	–	-23,014	–	-0.19%	–
XLRE	Exit	Select Sector SPDR Tr Real Estui	$0	–	-20,107	–	-0.19%	–
MTB	Exit	M & T Bank Corpcs	$0	–	-4,075	–	-0.20%	–
UN	Exit	Unilever NV NYad	$0	–	-12,288	–	-0.22%	–
IWV	Exit	iShares Russell 3000 ETFui	$0	–	-4,958	–	-0.22%	–
NOC	Exit	Northrop Grumman Corpcs	$0	–	-2,607	–	-0.22%	–
CL	Exit	Colgate Palmolive Cocs	$0	–	-10,355	–	-0.23%	–
MCD	Exit	McDonalds Corpcs	$0	–	-4,969	–	-0.23%	–
CSCO	Exit	Cisco Systems Inccs	$0	–	-24,283	–	-0.24%	–
XLE	Exit	Select Sector SPDR Energyui	$0	–	-12,914	–	-0.26%	–
JNJ	Exit	Johnson & Johnsoncs	$0	–	-7,030	–	-0.27%	–
INTC	Exit	Intel Corpcs	$0	–	-26,193	–	-0.30%	–
MSFT	Exit	Microsoft Corpcs	$0	–	-13,867	–	-0.31%	–
JPM	Exit	JPMorgan Chase & Cocs	$0	–	-11,653	–	-0.33%	–
FTV	Exit	Fortive Corpcs	$0	–	-17,549	–	-0.37%	–
XLP	Exit	Select Sector SPDR Consumer Stui	$0	–	-24,020	–	-0.39%	–
PFE	Exit	Pfizer Inccs	$0	–	-38,045	–	-0.41%	–
IBDC	Exit	iShares Ibonds Mar20 ETFuh	$0	–	-54,634	–	-0.43%	–
MCK	Exit	McKesson Corpcs	$0	–	-9,957	–	-0.46%	–
XLI	Exit	Select Sector SPDR Industrialsui	$0	–	-21,600	–	-0.46%	–
IBDM	Exit	iShares Ibonds Dec21 ETFuh	$0	–	-63,305	–	-0.48%	–
	Exit	Vanguard Tl Int Stock Indexui	$0	–	-60,096	–	-0.53%	–
COF	Exit	Capital One Financial Corpcs	$0	–	-21,112	–	-0.54%	–
IBCC	Exit	iShares Ibnds Mar18 ETFuh	$0	–	-74,726	–	-0.55%	–
BIIB	Exit	Biogen Inccs	$0	–	-5,995	–	-0.56%	–
AGN	Exit	Allergan PLCcs	$0	–	-10,022	–	-0.62%	–
IGIB	Exit	iShares Interm Cred Bond ETFuh	$0	–	-18,850	–	-0.62%	–
BSV	Exit	Vanguard Short Term Bonduh	$0	–	-30,043	–	-0.72%	–
COP	Exit	ConocoPhillipscs	$0	–	-51,030	–	-0.77%	–
UNM	Exit	Unum Groupcs	$0	–	-50,040	–	-0.77%	–
XOM	Exit	Exxon Mobil Corpcs	$0	–	-32,220	–	-0.79%	–
HAL	Exit	Halliburton Cocs	$0	–	-60,727	–	-0.84%	–
VMBS	Exit	Vanguard Mortgage-Backed Secuh	$0	–	-55,470	–	-0.88%	–
DHR	Exit	Danaher Corpcs	$0	–	-35,289	–	-0.91%	–
CELG	Exit	Celgene Corpcs	$0	–	-21,496	–	-0.94%	–
UTX	Exit	United Technologies Corpcs	$0	–	-27,050	–	-0.94%	–
ABT	Exit	Abbott Laboratoriescs	$0	–	-67,598	–	-1.08%	–
BUD	Exit	Anheuser-Busch InBev SA NV Spad	$0	–	-31,071	–	-1.11%	–
XLK	Exit	Select Sector SPDR Tr Technoloui	$0	–	-62,800	–	-1.11%	–
NEAR	Exit	iShares Sht Mat Bond ETFuh	$0	–	-80,104	–	-1.21%	–
IGSB	Exit	iShares 1-3 Yr Cred Bond ETFuh	$0	–	-38,741	–	-1.22%	–
XLF	Exit	Select Sector SPDR Financialui	$0	–	-163,072	–	-1.26%	–
TRV	Exit	Travelers Companies Inccs	$0	–	-36,612	–	-1.35%	–
ALL	Exit	Allstate Corpcs	$0	–	-48,942	–	-1.35%	–
XLY	Exit	Select Sector SPDR Cons Discreui	$0	–	-51,152	–	-1.38%	–
LOW	Exit	Lowes Cos Inccs	$0	–	-59,350	–	-1.42%	–
XLU	Exit	Select Sector SPDR Utilitiesui	$0	–	-89,749	–	-1.43%	–
VLO	Exit	Valero Energy Corpcs	$0	–	-65,418	–	-1.51%	–
T	Exit	AT&T Inccs	$0	–	-134,073	–	-1.58%	–
WBA	Exit	Walgreens Boots Alliance Inccs	$0	–	-70,417	–	-1.63%	–
IVE	Exit	iShares S&P 500 Val ETFui	$0	–	-50,663	–	-1.64%	–
IJR	Exit	iShares Core S & P Small Capui	$0	–	-77,266	–	-1.72%	–
XLV	Exit	Select Sector SPDR Healthcareui	$0	–	-75,926	–	-1.86%	–
XLB	Exit	Select Sector SPDR Materialsui	$0	–	-109,598	–	-1.87%	–
CHD	Exit	Church & Dwight Inccs	$0	–	-140,213	–	-2.04%	–
UNP	Exit	Union Pacific Corpcs	$0	–	-58,646	–	-2.04%	–
MEAR	Exit	iShares Sht Mat Muni ETFuh	$0	–	-138,045	–	-2.08%	–
DIS	Exit	Disney Walt Co Disneycs	$0	–	-72,768	–	-2.15%	–
FRC	Exit	First Republic Bank San Francics	$0	–	-75,882	–	-2.38%	–
IVW	Exit	iShares S&P 500 Growth ETFui	$0	–	-58,132	–	-2.50%	–
AAPL	Exit	Apple Inccs	$0	–	-54,584	–	-2.52%	–
FISV	Exit	Fiserv Inccs	$0	–	-65,754	–	-2.54%	–
CHKP	Exit	Check Point Software Tech Ltdcs	$0	–	-77,319	–	-2.64%	–
CMBS	Exit	iShares CMBS ETFuh	$0	–	-175,493	–	-2.72%	–
VTI	Exit	Vanguard Total Stock Mktui	$0	–	-70,934	–	-2.76%	–
GVI	Exit	iShares Interm Term Gov/Cr ETFuh	$0	–	-83,871	–	-2.79%	–
MDY	Exit	SPDR S&P Mid Cap 400 ETF Trui	$0	–	-33,883	–	-3.32%	–
TXN	Exit	Texas Instruments Inccs	$0	–	-124,634	–	-3.35%	–
NVDA	Exit	NVIDIA Corpcs	$0	–	-65,503	–	-3.51%	–
VXUS	Exit	Vanguard Total Intl Stock Fui	$0	–	-275,545	–	-4.52%	–
SPY	Exit	SPDR S&P 500 ETF Trui	$0	–	-64,080	–	-4.83%	–
	Exit	Vanguard Total Stock Index Admui	$0	–	-278,106	–	-5.26%	–

Q3 2017

			Value		Shares		↓ Weighting
	Sell	Vanguard Total Stock Index Admui	$17,535,000	-3.1%	278,106	-6.9%	5.26%	-8.9%
SPY	Buy	SPDR S&P 500 ETF Trui	$16,099,000	+4.4%	64,080	+0.5%	4.83%	-1.8%
VXUS	Buy	Vanguard Total Intl Stock Fui	$15,081,000	+6.7%	275,545	+1.3%	4.52%	+0.3%
NVDA	Sell	NVIDIA Corpcs	$11,710,000	+20.9%	65,503	-2.3%	3.51%	+13.6%
TXN	Buy	Texas Instruments Inccs	$11,172,000	+21.4%	124,634	+4.2%	3.35%	+14.2%
MDY	Sell	SPDR S&P Mid Cap 400 ETF Trui	$11,057,000	+2.6%	33,883	-0.2%	3.32%	-3.6%
GVI	Sell	iShares Interm Term Gov/Cr ETFuh	$9,301,000	-4.5%	83,871	-4.7%	2.79%	-10.2%
VTI	Sell	Vanguard Total Stock Mktui	$9,187,000	+2.8%	70,934	-1.2%	2.76%	-3.3%
CMBS	Buy	iShares CMBS ETFuh	$9,047,000	+0.4%	175,493	+0.1%	2.72%	-5.6%
CHKP	Buy	Check Point Software Tech Ltdcs	$8,816,000	+4.7%	77,319	+0.1%	2.64%	-1.6%
FISV	Buy	Fiserv Inccs	$8,480,000	+6.0%	65,754	+0.5%	2.54%	-0.4%
AAPL	Sell	Apple Inccs	$8,412,000	+5.2%	54,584	-1.7%	2.52%	-1.1%
IVW	Sell	iShares S&P 500 Growth ETFui	$8,337,000	+2.3%	58,132	-2.3%	2.50%	-3.8%
FRC	Buy	First Republic Bank San Francics	$7,927,000	+4.7%	75,882	+0.3%	2.38%	-1.6%
DIS	Buy	Disney Walt Co Disneycs	$7,173,000	-6.7%	72,768	+0.6%	2.15%	-12.3%
MEAR	Sell	iShares Sht Mat Muni ETFuh	$6,920,000	-6.3%	138,045	-6.5%	2.08%	-11.9%
UNP	Buy	Union Pacific Corpcs	$6,801,000	+11.0%	58,646	+4.3%	2.04%	+4.4%
CHD	Sell	Church & Dwight Inccs	$6,793,000	-7.1%	140,213	-0.6%	2.04%	-12.7%
XLB	Buy	Select Sector SPDR Materialsui	$6,225,000	+6.0%	109,598	+0.4%	1.87%	-0.3%
XLV	Sell	Select Sector SPDR Healthcareui	$6,205,000	+3.0%	75,926	-0.2%	1.86%	-3.2%
IJR	Buy	iShares Core S & P Small Capui	$5,735,000	+6.1%	77,266	+0.3%	1.72%	-0.2%
IVE	Sell	iShares S&P 500 Val ETFui	$5,467,000	+0.8%	50,663	-1.9%	1.64%	-5.2%
WBA	Buy	Walgreens Boots Alliance Inccs	$5,438,000	+2.7%	70,417	+4.1%	1.63%	-3.5%
T	Buy	AT&T Inccs	$5,252,000	+16.6%	134,073	+12.3%	1.58%	+9.6%
VLO	Buy	Valero Energy Corpcs	$5,033,000	+16.1%	65,418	+1.8%	1.51%	+9.1%
XLU	Buy	Select Sector SPDR Utilitiesui	$4,761,000	+2.3%	89,749	+0.2%	1.43%	-3.8%
LOW	Buy	Lowes Cos Inccs	$4,744,000	+3.8%	59,350	+0.7%	1.42%	-2.4%
XLY	Buy	Select Sector SPDR Cons Discreui	$4,608,000	+157.9%	51,152	+156.6%	1.38%	+142.6%
ALL	Buy	Allstate Corpcs	$4,498,000	+9.5%	48,942	+5.3%	1.35%	+3.0%
TRV	Buy	Travelers Companies Inccs	$4,486,000	-2.8%	36,612	+0.4%	1.35%	-8.6%
XLF	Buy	Select Sector SPDR Financialui	$4,217,000	+4.8%	163,072	+0.0%	1.26%	-1.5%
IGSB	Sell	iShares 1-3 Yr Cred Bond ETFuh	$4,081,000	-1.5%	38,741	-1.5%	1.22%	-7.3%
NEAR	Sell	iShares Sht Mat Bond ETFuh	$4,028,000	-14.9%	80,104	-14.9%	1.21%	-20.0%
BUD	Sell	Anheuser-Busch InBev SA NV Spad	$3,707,000	+7.4%	31,071	-0.6%	1.11%	+1.0%
ABT	Buy	Abbott Laboratoriescs	$3,607,000	+20.9%	67,598	+10.2%	1.08%	+13.7%
UTX	Buy	United Technologies Corpcs	$3,140,000	-3.7%	27,050	+1.3%	0.94%	-9.4%
CELG	Buy	Celgene Corpcs	$3,135,000	+12.5%	21,496	+0.2%	0.94%	+5.8%
DHR	Buy	Danaher Corpcs	$3,027,000	+2.7%	35,289	+1.0%	0.91%	-3.5%
HAL	Buy	Halliburton Cocs	$2,795,000	+8.6%	60,727	+0.8%	0.84%	+2.1%
XOM	Buy	Exxon Mobil Corpcs	$2,641,000	+4.7%	32,220	+3.1%	0.79%	-1.6%
UNM	Buy	Unum Groupcs	$2,559,000	+10.4%	50,040	+0.7%	0.77%	+3.8%
COP	Buy	ConocoPhillipscs	$2,554,000	+25.4%	51,030	+10.1%	0.77%	+17.8%
BSV	Sell	Vanguard Short Term Bonduh	$2,398,000	-2.1%	30,043	-2.1%	0.72%	-7.9%
AGN	Buy	Allergan PLCcs	$2,054,000	-14.6%	10,022	+1.3%	0.62%	-19.8%
BIIB	Buy	Biogen Inccs	$1,877,000	+16.1%	5,995	+0.6%	0.56%	+9.1%
IBCC	Sell	iShares Ibnds Mar18 ETFuh	$1,841,000	-1.5%	74,726	-1.4%	0.55%	-7.5%
COF	Buy	Capital One Financial Corpcs	$1,787,000	+2.8%	21,112	+0.3%	0.54%	-3.4%
	Buy	Vanguard Tl Int Stock Indexui	$1,766,000	+377.3%	60,096	+352.8%	0.53%	+349.2%
IBDM	Sell	iShares Ibonds Dec21 ETFuh	$1,586,000	-18.2%	63,305	-18.5%	0.48%	-23.1%
MCK	Buy	McKesson Corpcs	$1,529,000	-6.3%	9,957	+0.4%	0.46%	-11.9%
IBDC	Buy	iShares Ibonds Mar20 ETFuh	$1,435,000	+0.1%	54,634	+0.0%	0.43%	-5.7%
PFE	Buy	Pfizer Inccs	$1,358,000	+30.8%	38,045	+23.1%	0.41%	+23.0%
FTV	Buy	Fortive Corpcs	$1,242,000	+12.7%	17,549	+0.9%	0.37%	+6.0%
JPM	Buy	JPMorgan Chase & Cocs	$1,113,000	+66.1%	11,653	+59.1%	0.33%	+56.1%
MSFT	Buy	Microsoft Corpcs	$1,033,000	+66.3%	13,867	+54.0%	0.31%	+56.6%
INTC	Buy	Intel Corpcs	$997,000	+136.3%	26,193	+109.2%	0.30%	+121.5%
CSCO	Buy	Cisco Systems Inccs	$817,000	+176.0%	24,283	+156.3%	0.24%	+160.6%
MCD	Buy	McDonalds Corpcs	$779,000	+127.8%	4,969	+122.3%	0.23%	+114.7%
CL	Buy	Colgate Palmolive Cocs	$754,000	+57.4%	10,355	+60.4%	0.23%	+47.7%
NOC	Buy	Northrop Grumman Corpcs	$750,000	+91.8%	2,607	+71.2%	0.22%	+80.0%
IWV	Sell	iShares Russell 3000 ETFui	$740,000	-0.1%	4,958	-3.6%	0.22%	-5.9%
UN	Buy	Unilever NV NYad	$726,000	+136.5%	12,288	+120.9%	0.22%	+122.4%
MTB	Buy	M & T Bank Corpcs	$656,000	+81.2%	4,075	+82.5%	0.20%	+69.8%
XLRE	Buy	Select Sector SPDR Tr Real Estui	$648,000	+0.2%	20,107	+0.0%	0.19%	-5.8%
FITB	Buy	Fifth Third Bancorpcs	$644,000	+73.1%	23,014	+60.7%	0.19%	+62.2%
AEP	Buy	American Electric Power Inccs	$582,000	+118.0%	8,285	+115.3%	0.18%	+105.9%
DTE	Buy	DTE Energy Cocs	$578,000	+115.7%	5,386	+112.3%	0.17%	+101.2%
MRK	Buy	Merck & Co Inccs	$570,000	+52.4%	8,905	+52.5%	0.17%	+43.7%
BAX	New	Baxter Intl Inccs	$552,000	–	8,794	–	0.17%	–
IJK	Sell	iShares S&P Mc 400Gr ETFui	$550,000	+0.7%	2,720	-2.0%	0.16%	-5.2%
BDX	Buy	Becton Dickinson & Cocs	$513,000	+121.1%	2,618	+120.4%	0.15%	+108.1%
PG	Buy	Procter And Gamble Cocs	$507,000	+93.5%	5,568	+85.0%	0.15%	+81.0%
BMO	Buy	Bank Montreal Quecs	$495,000	+76.8%	6,537	+71.5%	0.15%	+67.4%
GE	Buy	General Electric Cocs	$490,000	-2.0%	20,270	+9.5%	0.15%	-8.1%
HD	New	Home Depot Inccs	$486,000	–	2,974	–	0.15%	–
YUM	Buy	Yum Brands Inccs	$470,000	+68.5%	6,382	+69.0%	0.14%	+58.4%
NVS	Buy	Novartis AG Sp ADRad	$404,000	+64.2%	4,701	+59.6%	0.12%	+53.2%
IJJ	Sell	iShares S&P Mc 400VL ETFui	$395,000	+1.0%	2,589	-1.5%	0.12%	-4.8%
DE	Buy	Deere & Cocs	$366,000	+80.3%	2,914	+77.4%	0.11%	+69.2%
BTI	Buy	British American Tobacco PLC Sad	$363,000	+23.5%	5,815	+35.3%	0.11%	+16.0%
DEO	New	Diageo PLC Sp ADRad	$331,000	–	2,508	–	0.10%	–
YUMC	New	Yum China Holdings Inccs	$298,000	–	7,458	–	0.09%	–
IJT	Sell	iShares SP Smcp600gr ETFui	$267,000	+3.1%	1,623	-2.4%	0.08%	-3.6%
SLB	Exit	Schlumberger Ltdcs	$0	–	-3,106	–	-0.06%	–
ORCL	Exit	Oracle Corpcs	$0	–	-4,233	–	-0.07%	–
ACWX	Exit	iShares MSCI ACWI ex-US Indexui	$0	–	-4,994	–	-0.07%	–
VZ	Exit	Verizon Communications Inccs	$0	–	-5,430	–	-0.08%	–
TGT	Exit	Target Corpcs	$0	–	-5,673	–	-0.10%	–
SNI	Exit	Scripps Networks Interact Inccs	$0	–	-32,193	–	-0.70%	–

Q2 2017

			Value		Shares		↓ Weighting
	New	Vanguard Total Stock Index Admui	$18,090,000	–	298,660	–	5.77%	–
SPY	New	SPDR S&P 500 ETF Trui	$15,421,000	–	63,777	–	4.92%	–
VXUS	New	Vanguard Total Intl Stock Fui	$14,131,000	–	271,905	–	4.51%	–
MDY	New	SPDR S&P Mid Cap 400 ETF Trui	$10,781,000	–	33,942	–	3.44%	–
GVI	New	iShares Interm Term Gov/Cr ETFuh	$9,737,000	–	87,971	–	3.11%	–
NVDA	New	NVIDIA Corpcs	$9,689,000	–	67,026	–	3.09%	–
TXN	New	Texas Instruments Inccs	$9,200,000	–	119,592	–	2.94%	–
CMBS	New	iShares CMBS ETFuh	$9,010,000	–	175,290	–	2.88%	–
VTI	New	Vanguard Total Stock Mktui	$8,936,000	–	71,801	–	2.85%	–
CHKP	New	Check Point Software Tech Ltdcs	$8,422,000	–	77,209	–	2.69%	–
IVW	New	iShares S&P 500 Growth ETFui	$8,146,000	–	59,522	–	2.60%	–
FISV	New	Fiserv Inccs	$8,003,000	–	65,419	–	2.55%	–
AAPL	New	Apple Inccs	$7,999,000	–	55,543	–	2.55%	–
DIS	New	Disney Walt Co Disneycs	$7,685,000	–	72,329	–	2.45%	–
FRC	New	First Republic Bank San Francics	$7,572,000	–	75,649	–	2.42%	–
MEAR	New	iShares Sht Mat Muni ETFuh	$7,383,000	–	147,667	–	2.36%	–
CHD	New	Church & Dwight Inccs	$7,316,000	–	141,018	–	2.34%	–
UNP	New	Union Pacific Corpcs	$6,125,000	–	56,242	–	1.96%	–
XLV	New	Select Sector SPDR Healthcareui	$6,026,000	–	76,042	–	1.92%	–
XLB	New	Select Sector SPDR Materialsui	$5,872,000	–	109,132	–	1.87%	–
IVE	New	iShares S&P 500 Val ETFui	$5,421,000	–	51,648	–	1.73%	–
IJR	New	iShares Core S & P Small Capui	$5,403,000	–	77,062	–	1.72%	–
WBA	New	Walgreens Boots Alliance Inccs	$5,297,000	–	67,640	–	1.69%	–
NEAR	New	iShares Sht Mat Bond ETFuh	$4,734,000	–	94,169	–	1.51%	–
XLU	New	Select Sector SPDR Utilitiesui	$4,654,000	–	89,570	–	1.48%	–
TRV	New	Travelers Companies Inccs	$4,615,000	–	36,473	–	1.47%	–
LOW	New	Lowes Cos Inccs	$4,571,000	–	58,958	–	1.46%	–
T	New	AT&T Inccs	$4,504,000	–	119,363	–	1.44%	–
VLO	New	Valero Energy Corpcs	$4,336,000	–	64,269	–	1.38%	–
IGSB	New	iShares 1-3 Yr Cred Bond ETFuh	$4,143,000	–	39,343	–	1.32%	–
ALL	New	Allstate Corpcs	$4,109,000	–	46,466	–	1.31%	–
XLF	New	Select Sector SPDR Financialui	$4,022,000	–	163,033	–	1.28%	–
BUD	New	Anheuser-Busch InBev SA NV Spad	$3,451,000	–	31,267	–	1.10%	–
XLK	New	Select Sector SPDR Tr Technoloui	$3,436,000	–	62,800	–	1.10%	–
UTX	New	United Technologies Corpcs	$3,260,000	–	26,699	–	1.04%	–
ABT	New	Abbott Laboratoriescs	$2,983,000	–	61,369	–	0.95%	–
DHR	New	Danaher Corpcs	$2,948,000	–	34,928	–	0.94%	–
VMBS	New	Vanguard Mortgage-Backed Secuh	$2,921,000	–	55,470	–	0.93%	–
CELG	New	Celgene Corpcs	$2,786,000	–	21,451	–	0.89%	–
HAL	New	Halliburton Cocs	$2,574,000	–	60,272	–	0.82%	–
XOM	New	Exxon Mobil Corpcs	$2,523,000	–	31,254	–	0.80%	–
BSV	New	Vanguard Short Term Bonduh	$2,450,000	–	30,687	–	0.78%	–
AGN	New	Allergan PLCcs	$2,406,000	–	9,897	–	0.77%	–
UNM	New	Unum Groupcs	$2,318,000	–	49,710	–	0.74%	–
SNI	New	Scripps Networks Interact Inccs	$2,199,000	–	32,193	–	0.70%	–
IGIB	New	iShares Interm Cred Bond ETFuh	$2,069,000	–	18,850	–	0.66%	–
COP	New	ConocoPhillipscs	$2,037,000	–	46,334	–	0.65%	–
IBDM	New	iShares Ibonds Dec21 ETFuh	$1,940,000	–	77,642	–	0.62%	–
IBCC	New	iShares Ibnds Mar18 ETFuh	$1,869,000	–	75,804	–	0.60%	–
XLY	New	Select Sector SPDR Cons Discreui	$1,787,000	–	19,935	–	0.57%	–
COF	New	Capital One Financial Corpcs	$1,739,000	–	21,052	–	0.56%	–
MCK	New	McKesson Corpcs	$1,632,000	–	9,917	–	0.52%	–
BIIB	New	Biogen Inccs	$1,617,000	–	5,960	–	0.52%	–
XLI	New	Select Sector SPDR Industrialsui	$1,471,000	–	21,600	–	0.47%	–
IBDC	New	iShares Ibonds Mar20 ETFuh	$1,433,000	–	54,622	–	0.46%	–
XLP	New	Select Sector SPDR Consumer Stui	$1,320,000	–	24,020	–	0.42%	–
FTV	New	Fortive Corpcs	$1,102,000	–	17,396	–	0.35%	–
PFE	New	Pfizer Inccs	$1,038,000	–	30,908	–	0.33%	–
JNJ	New	Johnson & Johnsoncs	$930,000	–	7,030	–	0.30%	–
XLE	New	Select Sector SPDR Energyui	$838,000	–	12,914	–	0.27%	–
IWV	New	iShares Russell 3000 ETFui	$741,000	–	5,142	–	0.24%	–
JPM	New	JPMorgan Chase & Cocs	$670,000	–	7,326	–	0.21%	–
XLRE	New	Select Sector SPDR Tr Real Estui	$647,000	–	20,097	–	0.21%	–
MSFT	New	Microsoft Corpcs	$621,000	–	9,004	–	0.20%	–
IJK	New	iShares S&P Mc 400Gr ETFui	$546,000	–	2,775	–	0.17%	–
GE	New	General Electric Cocs	$500,000	–	18,504	–	0.16%	–
CL	New	Colgate Palmolive Cocs	$479,000	–	6,456	–	0.15%	–
TRST	New	Trustco Bank Corp NYcs	$464,000	–	59,882	–	0.15%	–
INTC	New	Intel Corpcs	$422,000	–	12,520	–	0.14%	–
AXP	New	American Express Cocs	$400,000	–	4,750	–	0.13%	–
NOC	New	Northrop Grumman Corpcs	$391,000	–	1,523	–	0.12%	–
IJJ	New	iShares S&P Mc 400VL ETFui	$391,000	–	2,629	–	0.12%	–
FITB	New	Fifth Third Bancorpcs	$372,000	–	14,324	–	0.12%	–
MRK	New	Merck & Co Inccs	$374,000	–	5,839	–	0.12%	–
	New	Vanguard Tl Int Stock Indexui	$370,000	–	13,272	–	0.12%	–
MTB	New	M & T Bank Corpcs	$362,000	–	2,233	–	0.12%	–
MCD	New	McDonalds Corpcs	$342,000	–	2,235	–	0.11%	–
UN	New	Unilever NV NYad	$307,000	–	5,562	–	0.10%	–
TGT	New	Target Corpcs	$297,000	–	5,673	–	0.10%	–
BTI	New	British American Tobacco PLC Sad	$294,000	–	4,297	–	0.09%	–
CSCO	New	Cisco Systems Inccs	$296,000	–	9,473	–	0.09%	–
BMO	New	Bank Montreal Quecs	$280,000	–	3,811	–	0.09%	–
YUM	New	Yum Brands Inccs	$279,000	–	3,776	–	0.09%	–
DTE	New	DTE Energy Cocs	$268,000	–	2,537	–	0.09%	–
AEP	New	American Electric Power Inccs	$267,000	–	3,849	–	0.08%	–
PG	New	Procter And Gamble Cocs	$262,000	–	3,010	–	0.08%	–
IJT	New	iShares SP Smcp600gr ETFui	$259,000	–	1,663	–	0.08%	–
NVS	New	Novartis AG Sp ADRad	$246,000	–	2,946	–	0.08%	–
VZ	New	Verizon Communications Inccs	$243,000	–	5,430	–	0.08%	–
BDX	New	Becton Dickinson & Cocs	$232,000	–	1,188	–	0.07%	–
ACWX	New	iShares MSCI ACWI ex-US Indexui	$228,000	–	4,994	–	0.07%	–
IBM	New	Intl Business Machinescs	$216,000	–	1,403	–	0.07%	–
ORCL	New	Oracle Corpcs	$212,000	–	4,233	–	0.07%	–
DE	New	Deere & Cocs	$203,000	–	1,643	–	0.06%	–
SLB	New	Schlumberger Ltdcs	$204,000	–	3,106	–	0.06%	–
KO	New	Coca-Cola Cocs	$205,000	–	4,561	–	0.06%	–

Q4 2016

			Value		Shares		↓ Weighting
IBM	Exit	International Business Machinecs	$0	–	-1,390	–	-0.08%	–
SLB	Exit	Schlumberger Ltdcs	$0	–	-3,104	–	-0.09%	–
PFF	Exit	iShares Tr US Pfd Indexuh	$0	–	-6,223	–	-0.09%	–
BDX	Exit	Becton Dickinson & Cocs	$0	–	-1,427	–	-0.10%	–
NVS	Exit	Novartis AG Sp ADRad	$0	–	-3,338	–	-0.10%	–
DTE	Exit	DTE Energy Cocs	$0	–	-2,860	–	-0.10%	–
AEP	Exit	American Electric Power Inccs	$0	–	-4,269	–	-0.10%	–
BMO	Exit	Bank Montreal Quecs	$0	–	-4,219	–	-0.10%	–
MCD	Exit	McDonalds Corpcs	$0	–	-2,536	–	-0.11%	–
PG	Exit	Procter & Gamble Cocs	$0	–	-3,261	–	-0.11%	–
MTB	Exit	M & T Bank Corpcs	$0	–	-2,604	–	-0.11%	–
BTI	Exit	British American Tobacco PLC Sad	$0	–	-2,385	–	-0.11%	–
UN	Exit	Unilever NV NYad	$0	–	-6,712	–	-0.11%	–
AXP	Exit	American Express Cocs	$0	–	-4,900	–	-0.12%	–
	Exit	Vanguard Tl Int Stock Indexui	$0	–	-12,977	–	-0.12%	–
FITB	Exit	Fifth Third Bancorpcs	$0	–	-16,083	–	-0.12%	–
CSCO	Exit	Cisco Systems Inccs	$0	–	-11,107	–	-0.13%	–
NOC	Exit	Northrop Grumman Corpcs	$0	–	-1,713	–	-0.14%	–
IJJ	Exit	iShares Tr S&P Mid Cap Valueui	$0	–	-2,879	–	-0.14%	–
MRK	Exit	Merck & Co Inccs	$0	–	-6,206	–	-0.14%	–
IJK	Exit	iShares Tr S&P Mid Cap 400 Groui	$0	–	-2,245	–	-0.14%	–
YUM	Exit	Yum Brands Inccs	$0	–	-4,412	–	-0.15%	–
TRST	Exit	Trustco Bank Corp NYcs	$0	–	-59,882	–	-0.16%	–
INTC	Exit	Intel Corpcs	$0	–	-13,862	–	-0.19%	–
JPM	Exit	JPMorgan Chase & Cocs	$0	–	-8,202	–	-0.20%	–
CL	Exit	Colgate Palmolive Cocs	$0	–	-7,358	–	-0.20%	–
MSFT	Exit	Microsoft Corpcs	$0	–	-9,937	–	-0.21%	–
GE	Exit	General Electric Cocs	$0	–	-20,774	–	-0.23%	–
IWV	Exit	iShares Tr Russell 3000ui	$0	–	-6,146	–	-0.29%	–
XLRE	Exit	Select Sector SPDR Tr Real Estui	$0	–	-25,090	–	-0.30%	–
JNJ	Exit	Johnson & Johnsoncs	$0	–	-7,030	–	-0.31%	–
FTV	Exit	Fortive Corpcs	$0	–	-17,835	–	-0.34%	–
PFE	Exit	Pfizer Inccs	$0	–	-31,471	–	-0.39%	–
XLE	Exit	Select Sector SPDR Tr SBI Enerui	$0	–	-20,549	–	-0.54%	–
NEAR	Exit	iShares Sht Mat Bond ETFuh	$0	–	-29,424	–	-0.55%	–
COF	Exit	Capital One Financial Corpcs	$0	–	-20,787	–	-0.55%	–
XLY	Exit	Select Sector SPDR Tr SBI Consui	$0	–	-20,645	–	-0.61%	–
IBDC	Exit	iShares 2020 Cp Tm ETFuh	$0	–	-65,269	–	-0.64%	–
UNM	Exit	Unum Groupcs	$0	–	-49,316	–	-0.64%	–
BIIB	Exit	Biogen Inccs	$0	–	-5,710	–	-0.66%	–
MCK	Exit	McKesson Corpcs	$0	–	-10,772	–	-0.66%	–
XLP	Exit	Select Sector SPDR Tr SBI Consui	$0	–	-36,065	–	-0.71%	–
IBCC	Exit	iShares 2018 Inv Grade Bonduh	$0	–	-78,208	–	-0.72%	–
XLI	Exit	Select Sector SPDR Tr SBI Induui	$0	–	-34,765	–	-0.75%	–
COP	Exit	ConocoPhillipscs	$0	–	-47,212	–	-0.76%	–
IBDM	Exit	iShares Ibonds Dec21 ETFuh	$0	–	-83,514	–	-0.78%	–
CELG	Exit	Celgene Corpcs	$0	–	-22,006	–	-0.85%	–
AGN	Exit	Allergan PLCcs	$0	–	-10,628	–	-0.91%	–
AMP	Exit	Ameriprise Financial Inccs	$0	–	-25,053	–	-0.92%	–
BSV	Exit	Vanguard Bond Index Fund Inc Suh	$0	–	-31,769	–	-0.95%	–
ABT	Exit	Abbott Laboratoriescs	$0	–	-62,792	–	-0.98%	–
HAL	Exit	Halliburton Cocs	$0	–	-62,279	–	-1.03%	–
DHR	Exit	Danaher Corpcs	$0	–	-35,780	–	-1.04%	–
UTX	Exit	United Technologies Corpcs	$0	–	-27,639	–	-1.04%	–
VZ	Exit	Verizon Communications Inccs	$0	–	-54,500	–	-1.05%	–
XOM	Exit	Exxon Mobil Corpcs	$0	–	-32,552	–	-1.05%	–
ALL	Exit	Allstate Corpcs	$0	–	-47,026	–	-1.20%	–
XLK	Exit	Select Sector SPDR Tr SBI Techui	$0	–	-68,535	–	-1.21%	–
XLF	Exit	Select Sector SPDR Tr SBI Finaui	$0	–	-180,588	–	-1.29%	–
VLO	Exit	Valero Energy Corpcs	$0	–	-66,360	–	-1.30%	–
TGT	Exit	Target Corpcs	$0	–	-52,171	–	-1.32%	–
BUD	Exit	Anheuser-Busch InBev SA NV Spad	$0	–	-31,749	–	-1.54%	–
MEAR	Exit	iShares Sht Mat Muni ETFuh	$0	–	-84,038	–	-1.56%	–
TRV	Exit	Travelers Companies Inccs	$0	–	-36,941	–	-1.57%	–
IGSB	Exit	iShares Tr Barclays 1-3 Yearsuh	$0	–	-40,565	–	-1.59%	–
LOW	Exit	Lowes Cos Inccs	$0	–	-60,512	–	-1.62%	–
GVI	Exit	iShares Tr Barclays Interm Govuh	$0	–	-39,262	–	-1.64%	–
XLU	Exit	Select Sector SPDR Tr SBI Utilui	$0	–	-94,483	–	-1.71%	–
IJR	Exit	iShares Tr S&P Small Cap 600ui	$0	–	-38,291	–	-1.76%	–
T	Exit	AT&T Inccs	$0	–	-119,763	–	-1.80%	–
ACWX	Exit	iShares Tr MSCI ACWI Exui	$0	–	-126,218	–	-1.94%	–
XLB	Exit	Select Sector SPDR Tr SBI Mateui	$0	–	-114,328	–	-2.02%	–
WBA	Exit	Walgreens Boots Alliance Inccs	$0	–	-67,887	–	-2.02%	–
UNP	Exit	Union Pacific Corpcs	$0	–	-57,380	–	-2.07%	–
NVDA	Exit	NVIDIA Corpcs	$0	–	-84,989	–	-2.15%	–
FRC	Exit	First Republic Bank San Fran Ccs	$0	–	-77,370	–	-2.21%	–
CHKP	Exit	Check Point Software Tech Ltdcs	$0	–	-78,259	–	-2.25%	–
IVE	Exit	iShares Tr S&P 500 Valueui	$0	–	-67,568	–	-2.37%	–
AAPL	Exit	Apple Inccs	$0	–	-58,516	–	-2.45%	–
FISV	Exit	Fiserv Inccs	$0	–	-66,699	–	-2.46%	–
IVW	Exit	iShares Tr S&P 500 Growthui	$0	–	-54,717	–	-2.46%	–
XLV	Exit	Select Sector SPDR Healthcareui	$0	–	-92,375	–	-2.46%	–
DIS	Exit	Disney Walt Co Disneycs	$0	–	-73,642	–	-2.53%	–
CHD	Exit	Church & Dwight Inccs	$0	–	-143,158	–	-2.54%	–
CMBS	Exit	ISHARES TR CMBS ETFuh	$0	–	-145,910	–	-2.86%	–
VTI	Exit	Vanguard Index Funds Stock Mktui	$0	–	-73,747	–	-3.04%	–
TXN	Exit	Texas Instruments Inccs	$0	–	-121,974	–	-3.17%	–
MDY	Exit	SPDR S&P Mid Cap 400 ETF Trui	$0	–	-33,068	–	-3.45%	–
SPY	Exit	SPDR S&P 500 Index ETFui	$0	–	-59,973	–	-4.80%	–
	Exit	Vanguard Index Funds Total Stoui	$0	–	-294,116	–	-5.90%	–

Q3 2016

			Value		Shares		↓ Weighting
	Buy	Vanguard Index Funds Total Stoui	$15,941,000	+4.4%	294,116	+0.5%	5.90%	-0.4%
SPY	Buy	SPDR S&P 500 Index ETFui	$12,972,000	+5.2%	59,973	+1.9%	4.80%	+0.4%
MDY	Sell	SPDR S&P Mid Cap 400 ETF Trui	$9,334,000	+1.6%	33,068	-2.0%	3.45%	-3.1%
TXN	Sell	Texas Instruments Inccs	$8,560,000	+9.8%	121,974	-2.0%	3.17%	+4.8%
VTI	Buy	Vanguard Index Funds Stock Mktui	$8,210,000	+21.6%	73,747	+17.1%	3.04%	+16.0%
CMBS	Buy	ISHARES TR CMBS ETFuh	$7,745,000	+22.2%	145,910	+22.4%	2.86%	+16.6%
CHD	Buy	Church & Dwight Inccs	$6,860,000	-9.4%	143,158	+94.5%	2.54%	-13.5%
DIS	Sell	Disney Walt Co Disneycs	$6,838,000	-7.1%	73,642	-2.2%	2.53%	-11.4%
XLV	Buy	Select Sector SPDR Healthcareui	$6,661,000	+2.5%	92,375	+1.9%	2.46%	-2.2%
IVW	Sell	iShares Tr S&P 500 Growthui	$6,657,000	+3.5%	54,717	-0.8%	2.46%	-1.2%
FISV	Sell	Fiserv Inccs	$6,635,000	-10.5%	66,699	-2.2%	2.46%	-14.6%
AAPL	Sell	Apple Inccs	$6,615,000	+16.2%	58,516	-1.7%	2.45%	+10.9%
IVE	Sell	iShares Tr S&P 500 Valueui	$6,416,000	+1.2%	67,568	-1.0%	2.37%	-3.3%
CHKP	Sell	Check Point Software Tech Ltdcs	$6,074,000	-4.7%	78,259	-2.1%	2.25%	-9.0%
FRC	Sell	First Republic Bank San Fran Ccs	$5,966,000	+8.2%	77,370	-1.8%	2.21%	+3.3%
NVDA	Sell	NVIDIA Corpcs	$5,823,000	-26.1%	84,989	-49.3%	2.15%	-29.5%
UNP	Sell	Union Pacific Corpcs	$5,596,000	+8.8%	57,380	-2.7%	2.07%	+3.8%
WBA	Sell	Walgreens Boots Alliance Inccs	$5,473,000	-5.6%	67,887	-2.5%	2.02%	-9.9%
XLB	Sell	Select Sector SPDR Tr SBI Mateui	$5,459,000	+2.3%	114,328	-0.7%	2.02%	-2.3%
ACWX	Sell	iShares Tr MSCI ACWI Exui	$5,236,000	+5.6%	126,218	-0.8%	1.94%	+0.8%
T	Sell	AT&T Inccs	$4,864,000	-6.8%	119,763	-0.9%	1.80%	-11.1%
IJR	Sell	iShares Tr S&P Small Cap 600ui	$4,754,000	+4.7%	38,291	-2.0%	1.76%	-0.1%
XLU	Sell	Select Sector SPDR Tr SBI Utilui	$4,629,000	-7.6%	94,483	-1.0%	1.71%	-11.8%
GVI	Sell	iShares Tr Barclays Interm Govuh	$4,430,000	-1.5%	39,262	-1.1%	1.64%	-6.0%
LOW	Sell	Lowes Cos Inccs	$4,370,000	-10.7%	60,512	-2.1%	1.62%	-14.7%
IGSB	Buy	iShares Tr Barclays 1-3 Yearsuh	$4,290,000	+728.2%	40,565	+730.4%	1.59%	+689.6%
TRV	Sell	Travelers Companies Inccs	$4,232,000	-6.1%	36,941	-2.5%	1.57%	-10.4%
MEAR	New	iShares Sht Mat Muni ETFuh	$4,207,000	–	84,038	–	1.56%	–
BUD	Sell	Anheuser-Busch InBev SA NV Spad	$4,172,000	-2.9%	31,749	-2.7%	1.54%	-7.4%
TGT	Sell	Target Corpcs	$3,583,000	-4.1%	52,171	-2.5%	1.32%	-8.5%
VLO	Sell	Valero Energy Corpcs	$3,517,000	+1.6%	66,360	-2.2%	1.30%	-3.0%
XLF	Sell	Select Sector SPDR Tr SBI Finaui	$3,485,000	-25.5%	180,588	-11.7%	1.29%	-28.9%
XLK	Sell	Select Sector SPDR Tr SBI Techui	$3,275,000	-17.3%	68,535	-24.9%	1.21%	-21.0%
ALL	Sell	Allstate Corpcs	$3,253,000	-1.5%	47,026	-0.4%	1.20%	-6.0%
XOM	Sell	Exxon Mobil Corpcs	$2,841,000	-8.9%	32,552	-2.1%	1.05%	-13.1%
VZ	Sell	Verizon Communications Inccs	$2,833,000	-8.6%	54,500	-1.8%	1.05%	-12.7%
UTX	Sell	United Technologies Corpcs	$2,808,000	-2.4%	27,639	-1.5%	1.04%	-6.8%
DHR	Buy	Danaher Corpcs	$2,805,000	-22.3%	35,780	+0.1%	1.04%	-25.8%
HAL	Sell	Halliburton Cocs	$2,795,000	-1.7%	62,279	-0.7%	1.03%	-6.2%
ABT	Sell	Abbott Laboratoriescs	$2,655,000	+6.3%	62,792	-1.2%	0.98%	+1.4%
BSV	Sell	Vanguard Bond Index Fund Inc Suh	$2,568,000	-1.1%	31,769	-0.9%	0.95%	-5.7%
AMP	Sell	Ameriprise Financial Inccs	$2,500,000	+11.0%	25,053	-0.1%	0.92%	+6.0%
AGN	Sell	Allergan PLCcs	$2,448,000	-1.2%	10,628	-0.8%	0.91%	-5.6%
CELG	Sell	Celgene Corpcs	$2,300,000	+3.5%	22,006	-2.4%	0.85%	-1.3%
IBDM	New	iShares Ibonds Dec21 ETFuh	$2,116,000	–	83,514	–	0.78%	–
COP	Sell	ConocoPhillipscs	$2,052,000	-2.7%	47,212	-2.4%	0.76%	-7.1%
XLI	Buy	Select Sector SPDR Tr SBI Induui	$2,030,000	+11.1%	34,765	+6.5%	0.75%	+5.9%
IBCC	Buy	iShares 2018 Inv Grade Bonduh	$1,939,000	-0.9%	78,208	+296.1%	0.72%	-5.4%
XLP	Buy	Select Sector SPDR Tr SBI Consui	$1,919,000	-1.6%	36,065	+2.0%	0.71%	-6.1%
MCK	Sell	McKesson Corpcs	$1,796,000	-10.8%	10,772	-0.2%	0.66%	-15.0%
BIIB	Buy	Biogen Inccs	$1,788,000	+31.0%	5,710	+1.2%	0.66%	+25.0%
UNM	Sell	Unum Groupcs	$1,741,000	+10.3%	49,316	-0.7%	0.64%	+5.2%
IBDC	Buy	iShares 2020 Cp Tm ETFuh	$1,728,000	-0.4%	65,269	+300.3%	0.64%	-5.1%
XLY	Sell	Select Sector SPDR Tr SBI Consui	$1,652,000	-27.9%	20,645	-29.6%	0.61%	-31.2%
COF	Sell	Capital One Financial Corpcs	$1,493,000	+12.9%	20,787	-0.2%	0.55%	+7.8%
NEAR	New	iShares Sht Mat Bond ETFuh	$1,477,000	–	29,424	–	0.55%	–
XLE	Buy	Select Sector SPDR Tr SBI Enerui	$1,451,000	+17.9%	20,549	+13.9%	0.54%	+12.6%
PFE	Buy	Pfizer Inccs	$1,066,000	-3.4%	31,471	+0.4%	0.39%	-7.9%
FTV	New	Fortive Corpcs	$908,000	–	17,835	–	0.34%	–
XLRE	New	Select Sector SPDR Tr Real Estui	$822,000	–	25,090	–	0.30%	–
IWV	Sell	iShares Tr Russell 3000ui	$788,000	-5.1%	6,146	-8.1%	0.29%	-9.3%
GE	Buy	General Electric Cocs	$615,000	-5.1%	20,774	+0.9%	0.23%	-9.2%
MSFT	Buy	Microsoft Corpcs	$572,000	+13.5%	9,937	+0.8%	0.21%	+8.7%
JPM	Buy	JPMorgan Chase & Cocs	$546,000	+7.9%	8,202	+0.7%	0.20%	+3.1%
CL	Buy	Colgate Palmolive Cocs	$546,000	+1.9%	7,358	+0.4%	0.20%	-2.9%
INTC	Buy	Intel Corpcs	$523,000	+16.0%	13,862	+0.8%	0.19%	+10.3%
TRST	Sell	Trustco Bank Corp NYcs	$425,000	+4.2%	59,882	-5.8%	0.16%	-0.6%
YUM	Buy	Yum Brands Inccs	$401,000	+10.8%	4,412	+1.1%	0.15%	+5.7%
IJK	Buy	iShares Tr S&P Mid Cap 400 Groui	$392,000	+18.1%	2,245	+14.2%	0.14%	+12.4%
MRK	Buy	Merck & Co Inccs	$387,000	+9.3%	6,206	+1.1%	0.14%	+4.4%
IJJ	Buy	iShares Tr S&P Mid Cap Valueui	$383,000	+20.1%	2,879	+15.7%	0.14%	+14.5%
NOC	Buy	Northrop Grumman Corpcs	$367,000	-2.4%	1,713	+1.2%	0.14%	-6.8%
CSCO	Buy	Cisco Systems Inccs	$352,000	+11.7%	11,107	+1.2%	0.13%	+6.6%
	Buy	Vanguard Tl Int Stock Indexui	$329,000	+6.8%	12,977	+0.6%	0.12%	+2.5%
FITB	Buy	Fifth Third Bancorpcs	$329,000	+17.5%	16,083	+1.2%	0.12%	+11.9%
UN	Sell	Unilever NV NYad	$309,000	-18.9%	6,712	-17.4%	0.11%	-23.0%
MTB	Buy	M & T Bank Corpcs	$302,000	-0.7%	2,604	+1.2%	0.11%	-5.1%
BTI	Buy	British American Tobacco PLC Sad	$304,000	-0.7%	2,385	+0.8%	0.11%	-5.9%
MCD	Buy	McDonalds Corpcs	$293,000	-2.7%	2,536	+1.3%	0.11%	-7.7%
PG	Buy	Procter & Gamble Cocs	$293,000	+6.9%	3,261	+0.8%	0.11%	+1.9%
BMO	Buy	Bank Montreal Quecs	$277,000	+4.9%	4,219	+1.4%	0.10%	0.0%
AEP	Buy	American Electric Power Inccs	$274,000	-7.1%	4,269	+1.3%	0.10%	-11.4%
DTE	Buy	DTE Energy Cocs	$268,000	-4.3%	2,860	+1.2%	0.10%	-9.2%
NVS	Buy	Novartis AG Sp ADRad	$264,000	-3.6%	3,338	+0.6%	0.10%	-7.5%
BDX	Buy	Becton Dickinson & Cocs	$256,000	+6.7%	1,427	+1.0%	0.10%	+2.2%
SLB	Buy	Schlumberger Ltdcs	$244,000	-0.4%	3,104	+0.0%	0.09%	-5.3%

Q2 2016

			Value		Shares		↓ Weighting
	New	Vanguard Index Funds Total Stoui	$15,270,000	–	292,692	–	5.92%	–
SPY	New	SPDR S&P 500 Index ETFui	$12,327,000	–	58,849	–	4.78%	–
MDY	New	SPDR S&P Mid Cap 400 ETF Trui	$9,190,000	–	33,759	–	3.56%	–
NVDA	New	NVIDIA Corpcs	$7,880,000	–	167,633	–	3.05%	–
TXN	New	Texas Instruments Inccs	$7,794,000	–	124,400	–	3.02%	–
CHD	New	Church & Dwight Inccs	$7,573,000	–	73,607	–	2.94%	–
FISV	New	Fiserv Inccs	$7,416,000	–	68,209	–	2.88%	–
DIS	New	Disney Walt Co Disneycs	$7,363,000	–	75,271	–	2.85%	–
VTI	New	Vanguard Index Funds Stock Mktui	$6,751,000	–	62,996	–	2.62%	–
XLV	New	Select Sector SPDR Healthcareui	$6,501,000	–	90,667	–	2.52%	–
IVW	New	iShares Tr S&P 500 Growthui	$6,433,000	–	55,177	–	2.49%	–
CHKP	New	Check Point Software Tech Ltdcs	$6,372,000	–	79,969	–	2.47%	–
CMBS	New	ISHARES TR CMBS ETFuh	$6,339,000	–	119,173	–	2.46%	–
IVE	New	iShares Tr S&P 500 Valueui	$6,337,000	–	68,218	–	2.46%	–
WBA	New	Walgreens Boots Alliance Inccs	$5,796,000	–	69,600	–	2.25%	–
AAPL	New	Apple Inccs	$5,694,000	–	59,557	–	2.21%	–
FRC	New	First Republic Bank San Fran Ccs	$5,513,000	–	78,774	–	2.14%	–
XLB	New	Select Sector SPDR Tr SBI Mateui	$5,336,000	–	115,150	–	2.07%	–
T	New	AT&T Inccs	$5,221,000	–	120,823	–	2.02%	–
UNP	New	Union Pacific Corpcs	$5,144,000	–	58,958	–	1.99%	–
XLU	New	Select Sector SPDR Tr SBI Utilui	$5,010,000	–	95,479	–	1.94%	–
ACWX	New	iShares Tr MSCI ACWI Exui	$4,958,000	–	127,248	–	1.92%	–
LOW	New	Lowes Cos Inccs	$4,892,000	–	61,785	–	1.90%	–
XLF	New	Select Sector SPDR Tr SBI Finaui	$4,675,000	–	204,533	–	1.81%	–
IJR	New	iShares Tr S&P Small Cap 600ui	$4,542,000	–	39,082	–	1.76%	–
TRV	New	Travelers Companies Inccs	$4,508,000	–	37,874	–	1.75%	–
GVI	New	iShares Tr Barclays Interm Govuh	$4,498,000	–	39,686	–	1.74%	–
BUD	New	Anheuser-Busch InBev SA NV Spad	$4,297,000	–	32,629	–	1.67%	–
XLK	New	Select Sector SPDR Tr SBI Techui	$3,960,000	–	91,300	–	1.54%	–
TGT	New	Target Corpcs	$3,736,000	–	53,503	–	1.45%	–
DHR	New	Danaher Corpcs	$3,610,000	–	35,738	–	1.40%	–
VLO	New	Valero Energy Corpcs	$3,460,000	–	67,843	–	1.34%	–
ALL	New	Allstate Corpcs	$3,302,000	–	47,203	–	1.28%	–
XOM	New	Exxon Mobil Corpcs	$3,118,000	–	33,260	–	1.21%	–
VZ	New	Verizon Communications Inccs	$3,098,000	–	55,485	–	1.20%	–
UTX	New	United Technologies Corpcs	$2,876,000	–	28,048	–	1.12%	–
HAL	New	Halliburton Cocs	$2,842,000	–	62,741	–	1.10%	–
BSV	New	Vanguard Bond Index Fund Inc Suh	$2,597,000	–	32,043	–	1.01%	–
ABT	New	Abbott Laboratoriescs	$2,498,000	–	63,542	–	0.97%	–
AGN	New	Allergan PLCcs	$2,477,000	–	10,718	–	0.96%	–
XLY	New	Select Sector SPDR Tr SBI Consui	$2,291,000	–	29,345	–	0.89%	–
AMP	New	Ameriprise Financial Inccs	$2,253,000	–	25,072	–	0.87%	–
CELG	New	Celgene Corpcs	$2,223,000	–	22,541	–	0.86%	–
COP	New	ConocoPhillipscs	$2,109,000	–	48,374	–	0.82%	–
MCK	New	McKesson Corpcs	$2,014,000	–	10,791	–	0.78%	–
IBCC	New	iShares 2018 Inv Grade Bonduh	$1,956,000	–	19,746	–	0.76%	–
XLP	New	Select Sector SPDR Tr SBI Consui	$1,951,000	–	35,370	–	0.76%	–
XLI	New	Select Sector SPDR Tr SBI Induui	$1,828,000	–	32,640	–	0.71%	–
IBDC	New	iShares 2020 Cp Tm ETFuh	$1,735,000	–	16,304	–	0.67%	–
UNM	New	Unum Groupcs	$1,578,000	–	49,649	–	0.61%	–
BIIB	New	Biogen Inccs	$1,365,000	–	5,645	–	0.53%	–
COF	New	Capital One Financial Corpcs	$1,322,000	–	20,822	–	0.51%	–
XLE	New	Select Sector SPDR Tr SBI Enerui	$1,231,000	–	18,045	–	0.48%	–
PFE	New	Pfizer Inccs	$1,104,000	–	31,353	–	0.43%	–
JNJ	New	Johnson & Johnsoncs	$853,000	–	7,030	–	0.33%	–
IWV	New	iShares Tr Russell 3000ui	$830,000	–	6,690	–	0.32%	–
GE	New	General Electric Cocs	$648,000	–	20,585	–	0.25%	–
CL	New	Colgate Palmolive Cocs	$536,000	–	7,328	–	0.21%	–
IGSB	New	iShares Tr Barclays 1-3 Yearsuh	$518,000	–	4,885	–	0.20%	–
JPM	New	JPMorgan Chase & Cocs	$506,000	–	8,142	–	0.20%	–
MSFT	New	Microsoft Corpcs	$504,000	–	9,857	–	0.20%	–
INTC	New	Intel Corpcs	$451,000	–	13,749	–	0.18%	–
TRST	New	Trustco Bank Corp NYcs	$408,000	–	63,579	–	0.16%	–
UN	New	Unilever NV NYad	$381,000	–	8,125	–	0.15%	–
NOC	New	Northrop Grumman Corpcs	$376,000	–	1,692	–	0.15%	–
YUM	New	Yum Brands Inccs	$362,000	–	4,365	–	0.14%	–
MRK	New	Merck & Co Inccs	$354,000	–	6,139	–	0.14%	–
IJK	New	iShares Tr S&P Mid Cap 400 Groui	$332,000	–	1,965	–	0.13%	–
IJJ	New	iShares Tr S&P Mid Cap Valueui	$319,000	–	2,489	–	0.12%	–
CSCO	New	Cisco Systems Inccs	$315,000	–	10,973	–	0.12%	–
BTI	New	British American Tobacco PLC Sad	$306,000	–	2,365	–	0.12%	–
	New	Vanguard Tl Int Stock Indexui	$308,000	–	12,902	–	0.12%	–
MTB	New	M & T Bank Corpcs	$304,000	–	2,574	–	0.12%	–
MCD	New	McDonalds Corpcs	$301,000	–	2,504	–	0.12%	–
AXP	New	American Express Cocs	$298,000	–	4,900	–	0.12%	–
AEP	New	American Electric Power Inccs	$295,000	–	4,215	–	0.11%	–
DTE	New	DTE Energy Cocs	$280,000	–	2,826	–	0.11%	–
FITB	New	Fifth Third Bancorpcs	$280,000	–	15,895	–	0.11%	–
NVS	New	Novartis AG Sp ADRad	$274,000	–	3,318	–	0.11%	–
PG	New	Procter & Gamble Cocs	$274,000	–	3,234	–	0.11%	–
BMO	New	Bank Montreal Quecs	$264,000	–	4,162	–	0.10%	–
PFF	New	iShares Tr US Pfd Indexuh	$248,000	–	6,223	–	0.10%	–
SLB	New	Schlumberger Ltdcs	$245,000	–	3,103	–	0.10%	–
BDX	New	Becton Dickinson & Cocs	$240,000	–	1,413	–	0.09%	–
IBM	New	International Business Machinecs	$211,000	–	1,390	–	0.08%	–

Q4 2015

			Value		Shares		↓ Weighting
FNFG	Exit	First Niagara Financial Groupcs	$0	–	-13,300	–	-0.06%	–
CAM	Exit	Cameron International Corpcs	$0	–	-3,398	–	-0.08%	–
DTE	Exit	DTE Energy Cocs	$0	–	-2,580	–	-0.08%	–
BMO	Exit	Bank Montreal Quecs	$0	–	-3,921	–	-0.09%	–
SHY	Exit	iShares Tr Barclays 1-3 Yruh	$0	–	-2,522	–	-0.09%	–
AEP	Exit	American Electric Power Inccs	$0	–	-3,848	–	-0.09%	–
PG	Exit	Procter & Gamble Cocs	$0	–	-3,203	–	-0.09%	–
BTI	Exit	British American Tobacco PLC Sad	$0	–	-2,124	–	-0.10%	–
MCD	Exit	McDonalds Corpcs	$0	–	-2,393	–	-0.10%	–
PFF	Exit	iShares Tr US Pfd Indexuh	$0	–	-6,313	–	-0.10%	–
NOC	Exit	Northrop Grumman Corpcs	$0	–	-1,507	–	-0.10%	–
IBM	Exit	International Business Machinecs	$0	–	-1,737	–	-0.10%	–
CSCO	Exit	Cisco Systems Inccs	$0	–	-10,126	–	-0.11%	–
IJT	Exit	iShares Tr Index S&P Small Capui	$0	–	-2,283	–	-0.11%	–
FITB	Exit	Fifth Third Bancorpcs	$0	–	-14,618	–	-0.11%	–
NVS	Exit	Novartis AG Sp ADRad	$0	–	-3,046	–	-0.11%	–
MTB	Exit	M & T Bank Corpcs	$0	–	-2,384	–	-0.12%	–
	Exit	Vanguard Tl Int Stock Indexui	$0	–	-12,605	–	-0.12%	–
UN	Exit	Unilever NV NYad	$0	–	-7,642	–	-0.12%	–
IJJ	Exit	iShares Tr S&P Mid Cap Valueui	$0	–	-2,669	–	-0.12%	–
MRK	Exit	Merck & Co Inccs	$0	–	-6,353	–	-0.13%	–
YUM	Exit	Yum Brands Inccs	$0	–	-3,997	–	-0.13%	–
TRST	Exit	Trustco Bank Corp NYcs	$0	–	-63,579	–	-0.15%	–
INTC	Exit	Intel Corpcs	$0	–	-12,967	–	-0.16%	–
MSFT	Exit	Microsoft Corpcs	$0	–	-9,293	–	-0.17%	–
AXP	Exit	American Express Cocs	$0	–	-5,560	–	-0.17%	–
JPM	Exit	JPMorgan Chase & Cocs	$0	–	-7,886	–	-0.20%	–
CL	Exit	Colgate Palmolive Cocs	$0	–	-8,046	–	-0.21%	–
GE	Exit	General Electric Cocs	$0	–	-21,263	–	-0.22%	–
IJK	Exit	iShares Tr S&P Mid Cap 400 Groui	$0	–	-3,570	–	-0.23%	–
JNJ	Exit	Johnson & Johnsoncs	$0	–	-7,030	–	-0.26%	–
IWV	Exit	iShares Tr Russell 3000ui	$0	–	-6,721	–	-0.31%	–
PFE	Exit	Pfizer Inccs	$0	–	-31,052	–	-0.40%	–
XLE	Exit	Select Sector SPDR Tr SBI Enerui	$0	–	-19,410	–	-0.48%	–
XLI	Exit	Select Sector SPDR Tr SBI Induui	$0	–	-34,490	–	-0.70%	–
XLP	Exit	Select Sector SPDR Tr SBI Consui	$0	–	-37,685	–	-0.72%	–
SRCL	Exit	Stericycle Inccs	$0	–	-12,815	–	-0.72%	–
COF	Exit	Capital One Financial Corpcs	$0	–	-24,768	–	-0.73%	–
UNM	Exit	Unum Groupcs	$0	–	-59,137	–	-0.77%	–
MCK	Exit	McKesson Corpcs	$0	–	-10,708	–	-0.80%	–
GILD	Exit	Gilead Sciences Inccs	$0	–	-20,590	–	-0.82%	–
IBDC	Exit	iShares 2020 Cp Tm ETFuh	$0	–	-19,493	–	-0.83%	–
IBCC	Exit	iShares 2018 Inv Grade Bonduh	$0	–	-20,795	–	-0.83%	–
COP	Exit	ConocoPhillipscs	$0	–	-46,015	–	-0.89%	–
XLY	Exit	Select Sector SPDR Tr SBI Consui	$0	–	-31,525	–	-0.95%	–
VZ	Exit	Verizon Communications Inccs	$0	–	-54,590	–	-0.96%	–
CELG	Exit	Celgene Corpcs	$0	–	-22,286	–	-0.98%	–
UTX	Exit	United Technologies Corpcs	$0	–	-27,597	–	-0.99%	–
BSV	Exit	Vanguard Bond Index Fund Inc Suh	$0	–	-30,878	–	-1.00%	–
ABT	Exit	Abbott Laboratoriescs	$0	–	-62,280	–	-1.01%	–
XLV	Exit	Select Sector SPDR Healthcareui	$0	–	-38,260	–	-1.02%	–
XOM	Exit	Exxon Mobil Corpcs	$0	–	-34,146	–	-1.03%	–
MYL	Exit	Mylan NV Eurocs	$0	–	-63,809	–	-1.04%	–
BIIB	Exit	Biogen Inccs	$0	–	-9,160	–	-1.08%	–
XLF	Exit	Select Sector SPDR Tr SBI Finaui	$0	–	-124,330	–	-1.14%	–
AGN	Exit	Allergan PLCcs	$0	–	-10,435	–	-1.15%	–
BHI	Exit	Baker Hughes Inccs	$0	–	-55,459	–	-1.17%	–
DHR	Exit	Danaher Corpcs	$0	–	-34,931	–	-1.20%	–
IGSB	Exit	iShares Tr Barclays 1-3 Yearsuh	$0	–	-29,023	–	-1.23%	–
IVE	Exit	iShares Tr S&P 500 Valueui	$0	–	-37,459	–	-1.27%	–
ALL	Exit	Allstate Corpcs	$0	–	-58,767	–	-1.38%	–
AMP	Exit	Ameriprise Financial Inccs	$0	–	-31,530	–	-1.39%	–
BUD	Exit	Anheuser-Busch InBev SA NV Spad	$0	–	-32,542	–	-1.40%	–
TRV	Exit	Travelers Companies Inccs	$0	–	-37,480	–	-1.51%	–
XLK	Exit	Select Sector SPDR Tr SBI Techui	$0	–	-98,235	–	-1.57%	–
T	Exit	AT&T Inccs	$0	–	-122,316	–	-1.61%	–
VLO	Exit	Valero Energy Corpcs	$0	–	-67,909	–	-1.65%	–
XLU	Exit	Select Sector SPDR Tr SBI Utilui	$0	–	-94,933	–	-1.66%	–
TGT	Exit	Target Corpcs	$0	–	-52,801	–	-1.68%	–
LOW	Exit	Lowes Cos Inccs	$0	–	-61,307	–	-1.71%	–
XLB	Exit	Select Sector SPDR Tr SBI Mateui	$0	–	-115,677	–	-1.87%	–
FRC	Exit	First Republic Bank San Fran Ccs	$0	–	-77,807	–	-1.98%	–
ACWX	Exit	iShares Tr MSCI ACWI Exui	$0	–	-128,739	–	-2.03%	–
UNP	Exit	Union Pacific Corpcs	$0	–	-58,170	–	-2.08%	–
NVDA	Exit	NVIDIA Corpcs	$0	–	-222,864	–	-2.22%	–
WBA	Exit	Walgreens Boots Alliance Inccs	$0	–	-68,673	–	-2.31%	–
FISV	Exit	Fiserv Inccs	$0	–	-67,329	–	-2.36%	–
CHD	Exit	Church & Dwight Inccs	$0	–	-72,421	–	-2.46%	–
TXN	Exit	Texas Instruments Inccs	$0	–	-123,054	–	-2.47%	–
IVW	Exit	iShares Tr S&P 500 Growthui	$0	–	-57,198	–	-2.50%	–
CMBS	Exit	ISHARES TR CMBS ETFuh	$0	–	-119,553	–	-2.50%	–
VTI	Exit	Vanguard Index Funds Stock Mktui	$0	–	-63,224	–	-2.52%	–
CHKP	Exit	Check Point Software Tech Ltdcs	$0	–	-78,739	–	-2.53%	–
IJR	Exit	iShares Tr S&P Small Cap 600ui	$0	–	-60,593	–	-2.61%	–
AAPL	Exit	Apple Inccs	$0	–	-58,908	–	-2.63%	–
DIS	Exit	Disney Walt Co Disneycs	$0	–	-74,841	–	-3.10%	–
SPY	Exit	SPDR S&P 500 Index ETFui	$0	–	-57,740	–	-4.48%	–
MDY	Exit	SPDR S&P Mid Cap 400 ETF Trui	$0	–	-56,866	–	-5.73%	–
	Exit	Vanguard Index Funds Total Stoui	$0	–	-299,315	–	-5.82%	–

Q3 2015

			Value		Shares		↓ Weighting
	Buy	Vanguard Index Funds Total Stoui	$14,388,000	-5.9%	299,315	+2.0%	5.82%	+8.0%
MDY	Sell	SPDR S&P Mid Cap 400 ETF Trui	$14,153,000	-18.2%	56,866	-10.2%	5.73%	-6.1%
SPY	Buy	SPDR S&P 500 Index ETFui	$11,065,000	-5.9%	57,740	+1.1%	4.48%	+8.0%
DIS	Sell	Disney Walt Co Disneycs	$7,649,000	-31.1%	74,841	-23.0%	3.10%	-20.9%
AAPL	Buy	Apple Inccs	$6,498,000	-9.6%	58,908	+2.8%	2.63%	+3.7%
IJR	Sell	iShares Tr S&P Small Cap 600ui	$6,457,000	-24.0%	60,593	-15.9%	2.61%	-12.8%
CHKP	Sell	Check Point Software Tech Ltdcs	$6,246,000	-1.0%	78,739	-0.7%	2.53%	+13.6%
VTI	Sell	Vanguard Index Funds Stock Mktui	$6,241,000	-8.8%	63,224	-1.1%	2.52%	+4.7%
CMBS	Sell	ISHARES TR CMBS ETFuh	$6,189,000	-7.6%	119,553	-8.3%	2.50%	+6.1%
TXN	Sell	Texas Instruments Inccs	$6,094,000	-4.6%	123,054	-0.8%	2.47%	+9.5%
CHD	Sell	Church & Dwight Inccs	$6,076,000	+2.8%	72,421	-0.6%	2.46%	+17.9%
FISV	Sell	Fiserv Inccs	$5,831,000	+3.3%	67,329	-1.2%	2.36%	+18.5%
WBA	Sell	Walgreens Boots Alliance Inccs	$5,707,000	-4.3%	68,673	-2.7%	2.31%	+9.9%
NVDA	Sell	NVIDIA Corpcs	$5,494,000	+20.8%	222,864	-1.5%	2.22%	+38.7%
UNP	Sell	Union Pacific Corpcs	$5,143,000	-7.8%	58,170	-0.5%	2.08%	+5.9%
ACWX	Sell	iShares Tr MSCI ACWI Exui	$5,027,000	-51.6%	128,739	-45.3%	2.03%	-44.5%
FRC	Sell	First Republic Bank San Fran Ccs	$4,884,000	-1.6%	77,807	-1.2%	1.98%	+13.0%
XLB	Sell	Select Sector SPDR Tr SBI Mateui	$4,618,000	-18.4%	115,677	-1.1%	1.87%	-6.3%
LOW	Buy	Lowes Cos Inccs	$4,225,000	+3.4%	61,307	+0.4%	1.71%	+18.7%
TGT	Sell	Target Corpcs	$4,153,000	-4.4%	52,801	-0.8%	1.68%	+9.7%
XLU	Sell	Select Sector SPDR Tr SBI Utilui	$4,110,000	+3.6%	94,933	-0.8%	1.66%	+18.9%
VLO	Sell	Valero Energy Corpcs	$4,081,000	-5.3%	67,909	-1.3%	1.65%	+8.7%
T	New	AT&T Inccs	$3,985,000	–	122,316	–	1.61%	–
TRV	Sell	Travelers Companies Inccs	$3,730,000	+2.2%	37,480	-0.8%	1.51%	+17.3%
BUD	Sell	Anheuser-Busch InBev SA NV Spad	$3,460,000	-13.4%	32,542	-1.7%	1.40%	-0.6%
AMP	Sell	Ameriprise Financial Inccs	$3,441,000	-13.4%	31,530	-0.9%	1.39%	-0.6%
ALL	Sell	Allstate Corpcs	$3,423,000	-11.8%	58,767	-1.8%	1.38%	+1.2%
IGSB	Sell	iShares Tr Barclays 1-3 Yearsuh	$3,051,000	-12.0%	29,023	-11.8%	1.23%	+1.0%
DHR	Buy	Danaher Corpcs	$2,976,000	+70.3%	34,931	+71.0%	1.20%	+95.5%
BHI	Sell	Baker Hughes Inccs	$2,886,000	-17.0%	55,459	-1.6%	1.17%	-4.7%
AGN	Buy	Allergan PLCcs	$2,836,000	-9.8%	10,435	+0.7%	1.15%	+3.5%
BIIB	Sell	Biogen Inccs	$2,673,000	-28.5%	9,160	-1.0%	1.08%	-17.8%
MYL	Sell	Mylan NV Eurocs	$2,569,000	-63.2%	63,809	-37.9%	1.04%	-57.7%
XOM	Sell	Exxon Mobil Corpcs	$2,539,000	-12.0%	34,146	-1.5%	1.03%	+1.0%
ABT	Sell	Abbott Laboratoriescs	$2,505,000	-18.5%	62,280	-0.5%	1.01%	-6.4%
BSV	Sell	Vanguard Bond Index Fund Inc Suh	$2,482,000	-5.3%	30,878	-5.6%	1.00%	+8.7%
UTX	Sell	United Technologies Corpcs	$2,456,000	-46.8%	27,597	-33.7%	0.99%	-38.9%
CELG	Sell	Celgene Corpcs	$2,411,000	-7.2%	22,286	-0.7%	0.98%	+6.7%
VZ	Sell	Verizon Communications Inccs	$2,375,000	-7.0%	54,590	-0.4%	0.96%	+6.8%
COP	Sell	ConocoPhillipscs	$2,207,000	-22.6%	46,015	-0.9%	0.89%	-11.1%
IBCC	Sell	iShares 2018 Inv Grade Bonduh	$2,057,000	-9.3%	20,795	-8.7%	0.83%	+4.1%
IBDC	Buy	iShares 2020 Cp Tm ETFuh	$2,053,000	+30.5%	19,493	+29.3%	0.83%	+50.0%
GILD	Sell	Gilead Sciences Inccs	$2,022,000	-17.1%	20,590	-1.2%	0.82%	-4.9%
MCK	Sell	McKesson Corpcs	$1,981,000	-18.4%	10,708	-0.8%	0.80%	-6.2%
UNM	Buy	Unum Groupcs	$1,897,000	-7.2%	59,137	+3.4%	0.77%	+6.7%
COF	Buy	Capital One Financial Corpcs	$1,796,000	-14.8%	24,768	+3.4%	0.73%	-2.2%
SRCL	Sell	Stericycle Inccs	$1,785,000	+2.5%	12,815	-1.4%	0.72%	+17.6%
PFE	Sell	Pfizer Inccs	$975,000	-16.2%	31,052	-10.5%	0.40%	-3.7%
IWV	Sell	iShares Tr Russell 3000ui	$765,000	-11.0%	6,721	-3.1%	0.31%	+2.3%
JNJ	Sell	Johnson & Johnsoncs	$656,000	-27.9%	7,030	-24.7%	0.26%	-17.4%
GE	Buy	General Electric Cocs	$536,000	-4.8%	21,263	+0.4%	0.22%	+9.6%
CL	Buy	Colgate Palmolive Cocs	$511,000	-2.9%	8,046	+0.1%	0.21%	+11.9%
JPM	Buy	JPMorgan Chase & Cocs	$481,000	-9.8%	7,886	+0.3%	0.20%	+3.7%
AXP	Sell	American Express Cocs	$412,000	-36.8%	5,560	-33.8%	0.17%	-27.4%
MSFT	Buy	Microsoft Corpcs	$411,000	+0.5%	9,293	+0.3%	0.17%	+15.3%
INTC	Sell	Intel Corpcs	$391,000	-2.0%	12,967	-1.1%	0.16%	+12.1%
YUM	Buy	Yum Brands Inccs	$320,000	-10.9%	3,997	+0.3%	0.13%	+1.6%
MRK	Buy	Merck & Co Inccs	$314,000	-12.8%	6,353	+0.4%	0.13%	0.0%
UN	Buy	Unilever NV NYad	$307,000	-3.8%	7,642	+0.3%	0.12%	+10.7%
	Sell	Vanguard Tl Int Stock Indexui	$300,000	-63.1%	12,605	-58.0%	0.12%	-57.7%
MTB	Buy	M & T Bank Corpcs	$291,000	-2.0%	2,384	+0.4%	0.12%	+12.4%
FITB	Buy	Fifth Third Bancorpcs	$276,000	-8.9%	14,618	+0.4%	0.11%	+4.7%
CSCO	Sell	Cisco Systems Inccs	$266,000	-13.4%	10,126	-9.4%	0.11%	0.0%
NOC	Buy	Northrop Grumman Corpcs	$250,000	+5.0%	1,507	+0.4%	0.10%	+20.2%
BTI	Sell	British American Tobacco PLC Sad	$234,000	-2.9%	2,124	-4.5%	0.10%	+11.8%
MCD	Sell	McDonalds Corpcs	$236,000	-15.4%	2,393	-18.4%	0.10%	-3.1%
PG	Sell	Procter & Gamble Cocs	$230,000	-26.5%	3,203	-19.9%	0.09%	-15.5%
AEP	Buy	American Electric Power Inccs	$219,000	+8.4%	3,848	+0.7%	0.09%	+25.4%
BMO	Buy	Bank Montreal Quecs	$214,000	-7.4%	3,921	+0.7%	0.09%	+7.4%
DTE	New	DTE Energy Cocs	$207,000	–	2,580	–	0.08%	–
CAM	New	Cameron International Corpcs	$208,000	–	3,398	–	0.08%	–
FNFG	New	First Niagara Financial Groupcs	$136,000	–	13,300	–	0.06%	–
AENP	Exit	American Energy Production Inccs	$0	–	-40,804	–	0.00%	–
KO	Exit	Coca-Cola Cocs	$0	–	-5,437	–	-0.08%	–
GVI	Exit	iShares Tr Barclays Interm Govuh	$0	–	-3,470	–	-0.14%	–
A309PS	Exit	DirecTVcs	$0	–	-65,605	–	-2.14%	–

Q2 2015

			Value		Shares		↓ Weighting
MDY	New	SPDR S&P Mid Cap 400 ETF Trui	$17,304,000	–	63,337	–	6.10%	–
	New	Vanguard Index Funds Total Stoui	$15,291,000	–	293,500	–	5.39%	–
SPY	New	SPDR S&P 500 Index ETFui	$11,757,000	–	57,115	–	4.14%	–
DIS	New	Disney Walt Co Disneycs	$11,101,000	–	97,256	–	3.91%	–
ACWX	New	iShares Tr MSCI ACWI Exui	$10,396,000	–	235,308	–	3.66%	–
IJR	New	iShares Tr S&P Small Cap 600ui	$8,497,000	–	72,081	–	3.00%	–
AAPL	New	Apple Inccs	$7,189,000	–	57,318	–	2.53%	–
MYL	New	Mylan NV Eurocs	$6,974,000	–	102,764	–	2.46%	–
VTI	New	Vanguard Index Funds Stock Mktui	$6,845,000	–	63,958	–	2.41%	–
CMBS	New	ISHARES TR CMBS ETFuh	$6,699,000	–	130,423	–	2.36%	–
IVW	New	iShares Tr S&P 500 Growthui	$6,513,000	–	57,198	–	2.30%	–
TXN	New	Texas Instruments Inccs	$6,389,000	–	124,035	–	2.25%	–
CHKP	New	Check Point Software Tech Ltdcs	$6,309,000	–	79,309	–	2.22%	–
A309PS	New	DirecTVcs	$6,087,000	–	65,605	–	2.14%	–
WBA	New	Walgreens Boots Alliance Inccs	$5,962,000	–	70,608	–	2.10%	–
CHD	New	Church & Dwight Inccs	$5,912,000	–	72,873	–	2.08%	–
XLB	New	Select Sector SPDR Tr SBI Mateui	$5,659,000	–	116,950	–	1.99%	–
FISV	New	Fiserv Inccs	$5,646,000	–	68,159	–	1.99%	–
UNP	New	Union Pacific Corpcs	$5,576,000	–	58,468	–	1.96%	–
FRC	New	First Republic Bank San Fran Ccs	$4,964,000	–	78,764	–	1.75%	–
UTX	New	United Technologies Corpcs	$4,616,000	–	41,612	–	1.63%	–
NVDA	New	NVIDIA Corpcs	$4,548,000	–	226,160	–	1.60%	–
TGT	New	Target Corpcs	$4,346,000	–	53,242	–	1.53%	–
VLO	New	Valero Energy Corpcs	$4,309,000	–	68,827	–	1.52%	–
LOW	New	Lowes Cos Inccs	$4,088,000	–	61,038	–	1.44%	–
XLK	New	Select Sector SPDR Tr SBI Techui	$4,067,000	–	98,235	–	1.43%	–
BUD	New	Anheuser-Busch InBev SA NV Spad	$3,995,000	–	33,107	–	1.41%	–
AMP	New	Ameriprise Financial Inccs	$3,973,000	–	31,801	–	1.40%	–
XLU	New	Select Sector SPDR Tr SBI Utilui	$3,969,000	–	95,742	–	1.40%	–
ALL	New	Allstate Corpcs	$3,882,000	–	59,843	–	1.37%	–
BIIB	New	Biogen Inccs	$3,736,000	–	9,250	–	1.32%	–
TRV	New	Travelers Companies Inccs	$3,650,000	–	37,765	–	1.29%	–
BHI	New	Baker Hughes Inccs	$3,479,000	–	56,381	–	1.23%	–
IGSB	New	iShares Tr Barclays 1-3 Yearsuh	$3,466,000	–	32,903	–	1.22%	–
IVE	New	iShares Tr S&P 500 Valueui	$3,454,000	–	37,459	–	1.22%	–
AGN	New	Allergan PLCcs	$3,144,000	–	10,360	–	1.11%	–
ABT	New	Abbott Laboratoriescs	$3,074,000	–	62,623	–	1.08%	–
XLF	New	Select Sector SPDR Tr SBI Finaui	$3,031,000	–	124,330	–	1.07%	–
XOM	New	Exxon Mobil Corpcs	$2,885,000	–	34,671	–	1.02%	–
COP	New	ConocoPhillipscs	$2,850,000	–	46,410	–	1.00%	–
XLV	New	Select Sector SPDR Healthcareui	$2,846,000	–	38,260	–	1.00%	–
BSV	New	Vanguard Bond Index Fund Inc Suh	$2,622,000	–	32,693	–	0.92%	–
CELG	New	Celgene Corpcs	$2,597,000	–	22,436	–	0.92%	–
VZ	New	Verizon Communications Inccs	$2,554,000	–	54,785	–	0.90%	–
GILD	New	Gilead Sciences Inccs	$2,440,000	–	20,843	–	0.86%	–
MCK	New	McKesson Corpcs	$2,427,000	–	10,797	–	0.86%	–
XLY	New	Select Sector SPDR Tr SBI Consui	$2,411,000	–	31,525	–	0.85%	–
IBCC	New	iShares 2018 Inv Grade Bonduh	$2,267,000	–	22,765	–	0.80%	–
COF	New	Capital One Financial Corpcs	$2,107,000	–	23,955	–	0.74%	–
UNM	New	Unum Groupcs	$2,044,000	–	57,175	–	0.72%	–
XLI	New	Select Sector SPDR Tr SBI Induui	$1,865,000	–	34,490	–	0.66%	–
XLP	New	Select Sector SPDR Tr SBI Consui	$1,794,000	–	37,685	–	0.63%	–
DHR	New	Danaher Corpcs	$1,748,000	–	20,426	–	0.62%	–
SRCL	New	Stericycle Inccs	$1,741,000	–	13,000	–	0.61%	–
IBDC	New	iShares 2020 Cp Tm ETFuh	$1,573,000	–	15,076	–	0.55%	–
XLE	New	Select Sector SPDR Tr SBI Enerui	$1,459,000	–	19,410	–	0.51%	–
PFE	New	Pfizer Inccs	$1,164,000	–	34,708	–	0.41%	–
JNJ	New	Johnson & Johnsoncs	$910,000	–	9,340	–	0.32%	–
IWV	New	iShares Tr Russell 3000ui	$860,000	–	6,936	–	0.30%	–
	New	Vanguard Tl Int Stock Indexui	$812,000	–	30,041	–	0.29%	–
AXP	New	American Express Cocs	$652,000	–	8,393	–	0.23%	–
IJK	New	iShares Tr S&P Mid Cap 400 Groui	$605,000	–	3,570	–	0.21%	–
GE	New	General Electric Cocs	$563,000	–	21,178	–	0.20%	–
JPM	New	JPMorgan Chase & Cocs	$533,000	–	7,859	–	0.19%	–
CL	New	Colgate Palmolive Cocs	$526,000	–	8,036	–	0.18%	–
TRST	New	Trustco Bank Corp NYcs	$447,000	–	63,579	–	0.16%	–
MSFT	New	Microsoft Corpcs	$409,000	–	9,261	–	0.14%	–
INTC	New	Intel Corpcs	$399,000	–	13,115	–	0.14%	–
GVI	New	iShares Tr Barclays Interm Govuh	$384,000	–	3,470	–	0.14%	–
YUM	New	Yum Brands Inccs	$359,000	–	3,984	–	0.13%	–
MRK	New	Merck & Co Inccs	$360,000	–	6,328	–	0.13%	–
IJJ	New	iShares Tr S&P Mid Cap Valueui	$344,000	–	2,669	–	0.12%	–
UN	New	Unilever NV NYad	$319,000	–	7,616	–	0.11%	–
PG	New	Procter & Gamble Cocs	$313,000	–	4,001	–	0.11%	–
CSCO	New	Cisco Systems Inccs	$307,000	–	11,181	–	0.11%	–
FITB	New	Fifth Third Bancorpcs	$303,000	–	14,564	–	0.11%	–
NVS	New	Novartis AG Sp ADRad	$300,000	–	3,046	–	0.11%	–
IJT	New	iShares Tr Index S&P Small Capui	$299,000	–	2,283	–	0.10%	–
MTB	New	M & T Bank Corpcs	$297,000	–	2,374	–	0.10%	–
IBM	New	International Business Machinecs	$283,000	–	1,737	–	0.10%	–
MCD	New	McDonalds Corpcs	$279,000	–	2,934	–	0.10%	–
PFF	New	iShares Tr US Pfd Indexuh	$247,000	–	6,313	–	0.09%	–
BTI	New	British American Tobacco PLC Sad	$241,000	–	2,224	–	0.08%	–
NOC	New	Northrop Grumman Corpcs	$238,000	–	1,501	–	0.08%	–
BMO	New	Bank Montreal Quecs	$231,000	–	3,892	–	0.08%	–
KO	New	Coca-Cola Cocs	$213,000	–	5,437	–	0.08%	–
SHY	New	iShares Tr Barclays 1-3 Yruh	$214,000	–	2,522	–	0.08%	–
AEP	New	American Electric Power Inccs	$202,000	–	3,821	–	0.07%	–
AENP	New	American Energy Production Inccs	$0	–	40,804	–	0.00%	–

Q4 2014

			Value		Shares		↓ Weighting
DTE	Exit	DTE Energy Cocs	$0	–	-2,640	–	-0.07%	–
AEP	Exit	American Electric Power Inccs	$0	–	-3,852	–	-0.07%	–
TTE	Exit	Total SA Sp ADRad	$0	–	-3,147	–	-0.07%	–
IJK	Exit	iShares Tr S&P Mid Cap 400 Groui	$0	–	-1,435	–	-0.08%	–
MMM	Exit	3M Cocs	$0	–	-1,573	–	-0.08%	–
SHY	Exit	iShares Tr Barclays 1-3 Yruh	$0	–	-2,642	–	-0.08%	–
CAM	Exit	Cameron International Corpcs	$0	–	-3,643	–	-0.09%	–
NOC	Exit	Northrop Grumman Corpcs	$0	–	-1,859	–	-0.09%	–
BTI	Exit	British American Tobacco PLC Sad	$0	–	-2,175	–	-0.09%	–
DEO	Exit	Diageo PLC Sp ADRad	$0	–	-2,210	–	-0.09%	–
BTTGY	Exit	BT Group PLC ADRad	$0	–	-4,260	–	-0.09%	–
TGT	Exit	Target Corpcs	$0	–	-4,483	–	-0.10%	–
BMO	Exit	Bank Montreal Quecs	$0	–	-3,879	–	-0.10%	–
ALL	Exit	Allstate Corpcs	$0	–	-4,863	–	-0.11%	–
MTB	Exit	M & T Bank Corpcs	$0	–	-2,452	–	-0.11%	–
YUM	Exit	Yum Brands Inccs	$0	–	-4,248	–	-0.11%	–
NVS	Exit	Novartis AG Sp ADRad	$0	–	-3,443	–	-0.12%	–
MCD	Exit	McDonalds Corpcs	$0	–	-3,508	–	-0.12%	–
IJJ	Exit	iShares Tr S&P Mid Cap Valueui	$0	–	-2,824	–	-0.12%	–
PG	Exit	Procter & Gamble Cocs	$0	–	-4,213	–	-0.13%	–
BND	Exit	Vanguard Bond Index Fund Inc Tuh	$0	–	-4,635	–	-0.14%	–
NEAR	Exit	iShares Sht Mat Bond ETFuh	$0	–	-7,710	–	-0.14%	–
TRST	Exit	Trustco Bank Corp NYcs	$0	–	-63,579	–	-0.15%	–
CSCO	Exit	Cisco Systems Inccs	$0	–	-16,469	–	-0.15%	–
UN	Exit	Unilever NV NYad	$0	–	-10,687	–	-0.15%	–
WAG	Exit	Walgreen Cocs	$0	–	-7,549	–	-0.16%	–
INTC	Exit	Intel Corpcs	$0	–	-14,897	–	-0.18%	–
JPM	Exit	JPMorgan Chase & Cocs	$0	–	-8,665	–	-0.19%	–
MSFT	Exit	Microsoft Corpcs	$0	–	-11,851	–	-0.20%	–
JNJ	Exit	Johnson & Johnsoncs	$0	–	-7,514	–	-0.29%	–
	Exit	Vanguard Total Intl Stock Signuh	$0	–	-24,506	–	-0.29%	–
IWV	Exit	iShares Tr Russell 3000ui	$0	–	-7,104	–	-0.30%	–
AGG	Exit	iShares Tr Barclays US Aggreguh	$0	–	-7,995	–	-0.31%	–
XLP	Exit	Select Sector SPDR Tr SBI Consui	$0	–	-37,330	–	-0.60%	–
XLE	Exit	Select Sector SPDR Tr SBI Enerui	$0	–	-19,040	–	-0.62%	–
XLI	Exit	Select Sector SPDR Tr SBI Induui	$0	–	-33,840	–	-0.64%	–
XLY	Exit	Select Sector SPDR Tr SBI Consui	$0	–	-31,110	–	-0.74%	–
IBCC	Exit	iShares 2018 Inv Grade Bonduh	$0	–	-23,585	–	-0.83%	–
XLV	Exit	Select Sector SPDR Healthcareui	$0	–	-38,070	–	-0.87%	–
NVDA	Exit	NVIDIA Corpcs	$0	–	-139,533	–	-0.92%	–
ABT	Exit	Abbott Laboratoriescs	$0	–	-64,720	–	-0.96%	–
VZ	Exit	Verizon Communications Inccs	$0	–	-54,601	–	-0.98%	–
BSV	Exit	Vanguard Bond Index Fund Inc Suh	$0	–	-34,316	–	-0.98%	–
HAL	Exit	Halliburton Cocs	$0	–	-42,753	–	-0.99%	–
XLF	Exit	Select Sector SPDR Tr SBI Finaui	$0	–	-123,795	–	-1.02%	–
ABBV	Exit	Abbvie Inccs	$0	–	-53,265	–	-1.10%	–
AAPL	Exit	Apple Inccs	$0	–	-31,549	–	-1.14%	–
XOM	Exit	Exxon Mobil Corpcs	$0	–	-35,573	–	-1.20%	–
IVE	Exit	iShares Tr S&P 500 Valueui	$0	–	-37,169	–	-1.20%	–
JCI	Exit	Johnson Controls Inccs	$0	–	-78,530	–	-1.24%	–
NOV	Exit	National Oilwell Varco Inccs	$0	–	-45,789	–	-1.24%	–
COP	Exit	ConocoPhillipscs	$0	–	-45,667	–	-1.25%	–
BAX	Exit	Baxter Intl Inccs	$0	–	-50,454	–	-1.29%	–
BUD	Exit	Anheuser-Busch InBev SA NV Spad	$0	–	-33,140	–	-1.31%	–
MRK	Exit	Merck & Co Inccs	$0	–	-63,222	–	-1.34%	–
PFE	Exit	Pfizer Inccs	$0	–	-126,917	–	-1.34%	–
TRV	Exit	Travelers Companies Inccs	$0	–	-40,051	–	-1.34%	–
FRC	Exit	First Republic Bank San Fran Ccs	$0	–	-78,103	–	-1.38%	–
XLK	Exit	Select Sector SPDR Tr SBI Techui	$0	–	-96,605	–	-1.38%	–
IGSB	Exit	iShares Tr Barclays 1-3 Yearsuh	$0	–	-37,252	–	-1.40%	–
HAS	Exit	Hasbro Inccs	$0	–	-71,674	–	-1.41%	–
XLU	Exit	Select Sector SPDR Tr SBI Utilui	$0	–	-96,187	–	-1.45%	–
GE	Exit	General Electric Cocs	$0	–	-162,550	–	-1.49%	–
UTX	Exit	United Technologies Corpcs	$0	–	-39,905	–	-1.51%	–
IGIB	Exit	iShares Tr Barclays Interm Creuh	$0	–	-41,815	–	-1.63%	–
BEN	Exit	Franklin Resources Inccs	$0	–	-85,577	–	-1.67%	–
FITB	Exit	Fifth Third Bancorpcs	$0	–	-234,982	–	-1.68%	–
IBM	Exit	International Business Machinecs	$0	–	-25,249	–	-1.71%	–
MYL	Exit	Mylan Inccs	$0	–	-105,594	–	-1.72%	–
IVW	Exit	iShares Tr S&P 500 Growthui	$0	–	-48,527	–	-1.85%	–
CHD	Exit	Church & Dwight Inccs	$0	–	-74,301	–	-1.86%	–
CL	Exit	Colgate Palmolive Cocs	$0	–	-81,951	–	-1.91%	–
ORCL	Exit	Oracle Corpcs	$0	–	-141,801	–	-1.94%	–
AXP	Exit	American Express Cocs	$0	–	-62,615	–	-1.96%	–
A309PS	Exit	DirecTVcs	$0	–	-66,160	–	-2.04%	–
CHKP	Exit	Check Point Software Tech Ltdcs	$0	–	-82,829	–	-2.05%	–
TXN	Exit	Texas Instruments Inccs	$0	–	-124,247	–	-2.12%	–
GVI	Exit	iShares Tr Barclays Interm Govuh	$0	–	-54,298	–	-2.14%	–
UNP	Exit	Union Pacific Corpcs	$0	–	-60,561	–	-2.35%	–
VTI	Exit	Vanguard Index Funds Stock Mktui	$0	–	-66,304	–	-2.40%	–
CMBS	Exit	ISHARES TR CMBS ETFuh	$0	–	-133,903	–	-2.46%	–
XLB	Exit	Select Sector SPDR Tr SBI Mateui	$0	–	-141,738	–	-2.51%	–
IJR	Exit	iShares Tr S&P Small Cap 600ui	$0	–	-72,642	–	-2.71%	–
DIS	Exit	Disney Walt Co Disneycs	$0	–	-100,002	–	-3.18%	–
ACWX	Exit	iShares Tr MSCI ACWI Exui	$0	–	-225,083	–	-3.66%	–
SPY	Exit	SPDR S&P 500 Index ETFui	$0	–	-57,465	–	-4.05%	–
	Exit	Vanguard Index Funds Total Stouh	$0	–	-299,773	–	-5.10%	–
MDY	Exit	SPDR S&P Mid Cap 400 ETF Trui	$0	–	-63,126	–	-5.62%	–

Q3 2014

			Value		Shares		↓ Weighting
MDY	Buy	SPDR S&P Mid Cap 400 ETF Trui	$15,739,000	-1.4%	63,126	+3.0%	5.62%	-3.7%
	Buy	Vanguard Index Funds Total Stouh	$14,260,000	-0.0%	299,773	+0.5%	5.10%	-2.4%
SPY	Buy	SPDR S&P 500 Index ETFui	$11,322,000	+7.6%	57,465	+6.9%	4.05%	+5.0%
ACWX	Buy	iShares Tr MSCI ACWI Exui	$10,237,000	-1.5%	225,083	+4.0%	3.66%	-3.9%
DIS	Buy	Disney Walt Co Disneycs	$8,903,000	+7.5%	100,002	+3.5%	3.18%	+4.9%
IJR	Buy	iShares Tr S&P Small Cap 600ui	$7,577,000	-4.8%	72,642	+2.4%	2.71%	-7.0%
XLB	Buy	Select Sector SPDR Tr SBI Mateui	$7,029,000	+2.7%	141,738	+2.8%	2.51%	+0.2%
VTI	Buy	Vanguard Index Funds Stock Mktui	$6,713,000	+2.1%	66,304	+2.6%	2.40%	-0.3%
UNP	Buy	Union Pacific Corpcs	$6,566,000	+14.7%	60,561	+5.5%	2.35%	+12.0%
GVI	Buy	iShares Tr Barclays Interm Govuh	$5,986,000	+1.5%	54,298	+2.1%	2.14%	-0.9%
TXN	Buy	Texas Instruments Inccs	$5,925,000	+3.5%	124,247	+3.7%	2.12%	+1.1%
CHKP	Buy	Check Point Software Tech Ltdcs	$5,735,000	+10.0%	82,829	+6.5%	2.05%	+7.4%
A309PS	Buy	DirecTVcs	$5,724,000	+4.9%	66,160	+3.1%	2.04%	+2.5%
AXP	Buy	American Express Cocs	$5,481,000	-1.9%	62,615	+6.3%	1.96%	-4.2%
ORCL	Buy	Oracle Corpcs	$5,428,000	-3.5%	141,801	+2.2%	1.94%	-5.7%
CL	Buy	Colgate Palmolive Cocs	$5,345,000	-2.7%	81,951	+1.7%	1.91%	-5.0%
CHD	Buy	Church & Dwight Inccs	$5,213,000	+2.1%	74,301	+1.8%	1.86%	-0.3%
IVW	Buy	iShares Tr S&P 500 Growthui	$5,184,000	+38.8%	48,527	+36.7%	1.85%	+35.6%
MYL	Buy	Mylan Inccs	$4,803,000	-9.6%	105,594	+2.4%	1.72%	-11.8%
IBM	Buy	International Business Machinecs	$4,793,000	+7.5%	25,249	+2.7%	1.71%	+5.0%
FITB	Buy	Fifth Third Bancorpcs	$4,704,000	-3.5%	234,982	+3.0%	1.68%	-5.7%
BEN	Buy	Franklin Resources Inccs	$4,673,000	-0.6%	85,577	+5.3%	1.67%	-2.9%
IGIB	Buy	iShares Tr Barclays Interm Creuh	$4,571,000	+0.5%	41,815	+1.3%	1.63%	-1.9%
UTX	Buy	United Technologies Corpcs	$4,214,000	-3.0%	39,905	+6.0%	1.51%	-5.3%
GE	Buy	General Electric Cocs	$4,165,000	+3.9%	162,550	+6.6%	1.49%	+1.4%
XLU	Buy	Select Sector SPDR Tr SBI Utilui	$4,048,000	-1.5%	96,187	+3.6%	1.45%	-3.8%
HAS	Buy	Hasbro Inccs	$3,942,000	+7.2%	71,674	+3.4%	1.41%	+4.8%
IGSB	Buy	iShares Tr Barclays 1-3 Yearsuh	$3,922,000	+0.5%	37,252	+0.9%	1.40%	-1.8%
FRC	Buy	First Republic Bank San Fran Ccs	$3,857,000	-4.4%	78,103	+6.4%	1.38%	-6.7%
XLK	Sell	Select Sector SPDR Tr SBI Techui	$3,855,000	+3.8%	96,605	-0.2%	1.38%	+1.4%
TRV	Buy	Travelers Companies Inccs	$3,762,000	+8.2%	40,051	+8.3%	1.34%	+5.7%
PFE	Buy	Pfizer Inccs	$3,753,000	+5.8%	126,917	+6.2%	1.34%	+3.3%
MRK	Buy	Merck & Co Inccs	$3,748,000	+9.0%	63,222	+6.3%	1.34%	+6.4%
BUD	Buy	Anheuser-Busch InBev SA NV Spad	$3,674,000	-1.3%	33,140	+2.4%	1.31%	-3.6%
BAX	Buy	Baxter Intl Inccs	$3,621,000	+1.9%	50,454	+2.7%	1.29%	-0.5%
COP	Buy	ConocoPhillipscs	$3,494,000	-6.1%	45,667	+5.2%	1.25%	-8.3%
NOV	Buy	National Oilwell Varco Inccs	$3,485,000	0.0%	45,789	+8.2%	1.24%	-2.4%
JCI	Buy	Johnson Controls Inccs	$3,455,000	-5.9%	78,530	+6.8%	1.24%	-8.0%
XOM	Buy	Exxon Mobil Corpcs	$3,346,000	-2.8%	35,573	+4.0%	1.20%	-5.1%
IVE	Buy	iShares Tr S&P 500 Valueui	$3,348,000	+40.8%	37,169	+41.1%	1.20%	+37.5%
AAPL	Buy	Apple Inccs	$3,179,000	+15.4%	31,549	+6.4%	1.14%	+12.7%
ABBV	Buy	Abbvie Inccs	$3,077,000	+6.9%	53,265	+4.5%	1.10%	+4.5%
XLF	Buy	Select Sector SPDR Tr SBI Finaui	$2,868,000	+2.3%	123,795	+0.4%	1.02%	-0.1%
HAL	Buy	Halliburton Cocs	$2,758,000	-4.4%	42,753	+5.2%	0.99%	-6.6%
BSV	Buy	Vanguard Bond Index Fund Inc Suh	$2,748,000	+1.3%	34,316	+1.6%	0.98%	-1.1%
VZ	Buy	Verizon Communications Inccs	$2,730,000	+8.1%	54,601	+5.8%	0.98%	+5.6%
ABT	Buy	Abbott Laboratoriescs	$2,692,000	+7.0%	64,720	+5.3%	0.96%	+4.6%
NVDA	Buy	NVIDIA Corpcs	$2,574,000	+4.0%	139,533	+4.6%	0.92%	+1.7%
XLV	Sell	Select Sector SPDR Healthcareui	$2,433,000	+4.8%	38,070	-0.2%	0.87%	+2.4%
IBCC	Buy	iShares 2018 Inv Grade Bonduh	$2,324,000	+9.6%	23,585	+10.4%	0.83%	+7.0%
XLY	Sell	Select Sector SPDR Tr SBI Consui	$2,075,000	-0.3%	31,110	-0.2%	0.74%	-2.8%
XLI	Sell	Select Sector SPDR Tr SBI Induui	$1,799,000	-1.9%	33,840	-0.2%	0.64%	-4.2%
XLE	Sell	Select Sector SPDR Tr SBI Enerui	$1,725,000	-9.7%	19,040	-0.2%	0.62%	-11.9%
XLP	Buy	Select Sector SPDR Tr SBI Consui	$1,684,000	+1.3%	37,330	+0.2%	0.60%	-1.0%
IWV	Buy	iShares Tr Russell 3000ui	$830,000	0.0%	7,104	+0.7%	0.30%	-2.3%
	Buy	Vanguard Total Intl Stock Signuh	$805,000	-5.5%	24,506	+0.5%	0.29%	-7.7%
JNJ	Buy	Johnson & Johnsoncs	$801,000	+14.4%	7,514	+12.3%	0.29%	+11.7%
MSFT	Buy	Microsoft Corpcs	$549,000	+34.2%	11,851	+20.8%	0.20%	+30.7%
JPM	Buy	JPMorgan Chase & Cocs	$522,000	+14.2%	8,665	+9.3%	0.19%	+12.0%
INTC	Buy	Intel Corpcs	$519,000	+27.8%	14,897	+13.2%	0.18%	+24.2%
WAG	Buy	Walgreen Cocs	$447,000	-11.8%	7,549	+10.3%	0.16%	-14.0%
UN	Buy	Unilever NV NYad	$424,000	+7.1%	10,687	+18.0%	0.15%	+4.8%
CSCO	Buy	Cisco Systems Inccs	$415,000	+39.3%	16,469	+37.3%	0.15%	+35.8%
NEAR	Buy	iShares Sht Mat Bond ETFuh	$387,000	+3.8%	7,710	+4.0%	0.14%	+1.5%
BND	Buy	Vanguard Bond Index Fund Inc Tuh	$380,000	+26.2%	4,635	+26.5%	0.14%	+23.6%
PG	Sell	Procter & Gamble Cocs	$353,000	+5.4%	4,213	-1.1%	0.13%	+2.4%
IJJ	Buy	iShares Tr S&P Mid Cap Valueui	$340,000	-3.4%	2,824	+1.8%	0.12%	-6.2%
MCD	Buy	McDonalds Corpcs	$333,000	-4.3%	3,508	+1.7%	0.12%	-6.3%
NVS	Buy	Novartis AG Sp ADRad	$324,000	+18.2%	3,443	+13.9%	0.12%	+16.0%
YUM	Buy	Yum Brands Inccs	$306,000	-4.1%	4,248	+8.3%	0.11%	-6.8%
MTB	Buy	M & T Bank Corpcs	$302,000	+1.0%	2,452	+1.7%	0.11%	-0.9%
ALL	Buy	Allstate Corpcs	$298,000	+5.7%	4,863	+1.4%	0.11%	+2.9%
BMO	Buy	Bank Montreal Quecs	$286,000	+1.8%	3,879	+1.7%	0.10%	-1.0%
TGT	Buy	Target Corpcs	$281,000	+10.2%	4,483	+1.8%	0.10%	+7.5%
BTTGY	Buy	BT Group PLC ADRad	$262,000	-4.0%	4,260	+2.4%	0.09%	-6.0%
DEO	Buy	Diageo PLC Sp ADRad	$255,000	+5.4%	2,210	+16.2%	0.09%	+2.2%
BTI	Buy	British American Tobacco PLC Sad	$246,000	-3.9%	2,175	+1.2%	0.09%	-6.4%
NOC	Buy	Northrop Grumman Corpcs	$245,000	+11.4%	1,859	+1.2%	0.09%	+8.6%
CAM	Buy	Cameron International Corpcs	$242,000	+5.2%	3,643	+7.2%	0.09%	+2.4%
MMM	New	3M Cocs	$223,000	–	1,573	–	0.08%	–
IJK	Buy	iShares Tr S&P Mid Cap 400 Groui	$217,000	-1.8%	1,435	+2.1%	0.08%	-3.7%
TTE	Buy	Total SA Sp ADRad	$203,000	-9.8%	3,147	+1.0%	0.07%	-11.0%
DTE	Buy	DTE Energy Cocs	$201,000	-0.5%	2,640	+1.5%	0.07%	-2.7%
AEP	Buy	American Electric Power Inccs	$201,000	-4.7%	3,852	+1.7%	0.07%	-6.5%
BP	Exit	BP PLC Sp ADRad	$0	–	-3,803	–	-0.07%	–
SDY	Exit	SPDR Series Trust S&P Div ETFui	$0	–	-3,993	–	-0.11%	–

Q2 2014

			Value		Shares		↓ Weighting
MDY	New	SPDR S&P Mid Cap 400 ETF Trui	$15,962,000	–	61,259	–	5.84%	–
	New	Vanguard Index Funds Total Stoui	$14,264,000	–	298,413	–	5.22%	–
SPY	New	SPDR S&P 500 Index ETFui	$10,526,000	–	53,780	–	3.85%	–
ACWX	New	iShares Tr MSCI ACWI Exui	$10,397,000	–	216,512	–	3.80%	–
DIS	New	Disney Walt Co Disneycs	$8,284,000	–	96,617	–	3.03%	–
IJR	New	iShares Tr S&P Small Cap 600ui	$7,955,000	–	70,973	–	2.91%	–
CMBS	New	iShares Barclays CMBSuh	$6,924,000	–	133,903	–	2.53%	–
XLB	New	Select Sector SPDR Tr SBI Mateui	$6,847,000	–	137,942	–	2.51%	–
VTI	New	Vanguard Index Funds Stock Mktui	$6,575,000	–	64,608	–	2.41%	–
GVI	New	iShares Tr Barclays Interm Govuh	$5,896,000	–	53,168	–	2.16%	–
UNP	New	Union Pacific Corpcs	$5,726,000	–	57,402	–	2.10%	–
TXN	New	Texas Instruments Inccs	$5,726,000	–	119,810	–	2.10%	–
ORCL	New	Oracle Corpcs	$5,623,000	–	138,746	–	2.06%	–
AXP	New	American Express Cocs	$5,587,000	–	58,893	–	2.04%	–
CL	New	Colgate Palmolive Cocs	$5,494,000	–	80,587	–	2.01%	–
A309PS	New	DirecTVcs	$5,455,000	–	64,165	–	2.00%	–
MYL	New	Mylan Inccs	$5,315,000	–	103,079	–	1.94%	–
CHKP	New	Check Point Software Tech Ltdcs	$5,212,000	–	77,760	–	1.91%	–
CHD	New	Church & Dwight Inccs	$5,104,000	–	72,961	–	1.87%	–
FITB	New	Fifth Third Bancorpcs	$4,873,000	–	228,237	–	1.78%	–
BEN	New	Franklin Resources Inccs	$4,699,000	–	81,249	–	1.72%	–
IGIB	New	iShares Tr Barclays Interm Creuh	$4,550,000	–	41,290	–	1.66%	–
IBM	New	International Business Machinecs	$4,457,000	–	24,587	–	1.63%	–
UTX	New	United Technologies Corpcs	$4,345,000	–	37,633	–	1.59%	–
XLU	New	Select Sector SPDR Tr SBI Utilui	$4,110,000	–	92,864	–	1.50%	–
FRC	New	First Republic Bank San Fran Ccs	$4,036,000	–	73,398	–	1.48%	–
GE	New	General Electric Cocs	$4,008,000	–	152,495	–	1.47%	–
IGSB	New	iShares Tr Barclays 1-3 Yearsuh	$3,902,000	–	36,920	–	1.43%	–
IVW	New	iShares Tr S&P 500 Growthui	$3,734,000	–	35,501	–	1.37%	–
BUD	New	Anheuser-Busch InBev SA NV Spad	$3,721,000	–	32,370	–	1.36%	–
COP	New	ConocoPhillipscs	$3,722,000	–	43,420	–	1.36%	–
XLK	New	Select Sector SPDR Tr SBI Techui	$3,713,000	–	96,820	–	1.36%	–
HAS	New	Hasbro Inccs	$3,676,000	–	69,296	–	1.34%	–
JCI	New	Johnson Controls Inccs	$3,671,000	–	73,530	–	1.34%	–
BAX	New	Baxter Intl Inccs	$3,552,000	–	49,123	–	1.30%	–
PFE	New	Pfizer Inccs	$3,546,000	–	119,476	–	1.30%	–
NOV	New	National Oilwell Varco Inccs	$3,485,000	–	42,325	–	1.28%	–
TRV	New	Travelers Companies Inccs	$3,477,000	–	36,965	–	1.27%	–
XOM	New	Exxon Mobil Corpcs	$3,443,000	–	34,195	–	1.26%	–
MRK	New	Merck & Co Inccs	$3,440,000	–	59,465	–	1.26%	–
HAL	New	Halliburton Cocs	$2,885,000	–	40,625	–	1.06%	–
ABBV	New	Abbvie Inccs	$2,878,000	–	50,985	–	1.05%	–
XLF	New	Select Sector SPDR Tr SBI Finaui	$2,803,000	–	123,260	–	1.03%	–
AAPL	New	Apple Inccs	$2,755,000	–	29,641	–	1.01%	–
BSV	New	Vanguard Bond Index Fund Inc Suh	$2,714,000	–	33,786	–	0.99%	–
VZ	New	Verizon Communications Inccs	$2,526,000	–	51,627	–	0.92%	–
ABT	New	Abbott Laboratoriescs	$2,515,000	–	61,488	–	0.92%	–
NVDA	New	NVIDIA Corpcs	$2,474,000	–	133,440	–	0.90%	–
IVE	New	iShares Tr S&P 500 Valueui	$2,377,000	–	26,333	–	0.87%	–
XLV	New	Select Sector SPDR Healthcareui	$2,321,000	–	38,155	–	0.85%	–
IBCC	New	iShares 2018 Inv Grade Bonduh	$2,121,000	–	21,360	–	0.78%	–
XLY	New	Select Sector SPDR Tr SBI Consui	$2,081,000	–	31,180	–	0.76%	–
XLE	New	Select Sector SPDR Tr SBI Enerui	$1,910,000	–	19,080	–	0.70%	–
XLI	New	Select Sector SPDR Tr SBI Induui	$1,834,000	–	33,920	–	0.67%	–
XLP	New	Select Sector SPDR Tr SBI Consui	$1,662,000	–	37,240	–	0.61%	–
AGG	New	iShares Tr Barclays US Aggreguh	$875,000	–	7,995	–	0.32%	–
	New	Vanguard Total Intl Stock Signui	$852,000	–	24,379	–	0.31%	–
IWV	New	iShares Tr Russell 3000ui	$830,000	–	7,054	–	0.30%	–
JNJ	New	Johnson & Johnsoncs	$700,000	–	6,689	–	0.26%	–
WAG	New	Walgreen Cocs	$507,000	–	6,845	–	0.19%	–
JPM	New	JPMorgan Chase & Cocs	$457,000	–	7,929	–	0.17%	–
TRST	New	Trustco Bank Corp NYcs	$425,000	–	63,579	–	0.16%	–
MSFT	New	Microsoft Corpcs	$409,000	–	9,810	–	0.15%	–
INTC	New	Intel Corpcs	$406,000	–	13,155	–	0.15%	–
UN	New	Unilever NV NYad	$396,000	–	9,055	–	0.14%	–
NEAR	New	iShares Sht Mat Bond ETFuh	$373,000	–	7,410	–	0.14%	–
IJJ	New	iShares Tr S&P Mid Cap Valueui	$352,000	–	2,774	–	0.13%	–
MCD	New	McDonalds Corpcs	$348,000	–	3,451	–	0.13%	–
PG	New	Procter & Gamble Cocs	$335,000	–	4,260	–	0.12%	–
YUM	New	Yum Brands Inccs	$319,000	–	3,924	–	0.12%	–
SDY	New	SPDR Series Trust S&P Div ETFui	$306,000	–	3,993	–	0.11%	–
BND	New	Vanguard Bond Index Fund Inc Tuh	$301,000	–	3,665	–	0.11%	–
CSCO	New	Cisco Systems Inccs	$298,000	–	11,991	–	0.11%	–
MTB	New	M & T Bank Corpcs	$299,000	–	2,412	–	0.11%	–
BMO	New	Bank Montreal Quecs	$281,000	–	3,816	–	0.10%	–
ALL	New	Allstate Corpcs	$282,000	–	4,798	–	0.10%	–
NVS	New	Novartis AG Sp ADRad	$274,000	–	3,023	–	0.10%	–
BTTGY	New	BT Group PLC ADRad	$273,000	–	4,160	–	0.10%	–
BTI	New	British American Tobacco PLC Sad	$256,000	–	2,150	–	0.09%	–
TGT	New	Target Corpcs	$255,000	–	4,402	–	0.09%	–
DEO	New	Diageo PLC Sp ADRad	$242,000	–	1,902	–	0.09%	–
CAM	New	Cameron International Corpcs	$230,000	–	3,398	–	0.08%	–
SHY	New	iShares Tr Barclays 1-3 Yruh	$223,000	–	2,642	–	0.08%	–
TTE	New	Total SA Sp ADRad	$225,000	–	3,117	–	0.08%	–
NOC	New	Northrop Grumman Corpcs	$220,000	–	1,837	–	0.08%	–
IJK	New	iShares Tr S&P Mid Cap 400 Groui	$221,000	–	1,405	–	0.08%	–
AEP	New	American Electric Power Inccs	$211,000	–	3,788	–	0.08%	–
BP	New	BP PLC Sp ADRad	$201,000	–	3,803	–	0.07%	–
DTE	New	DTE Energy Cocs	$202,000	–	2,600	–	0.07%	–

Q4 2013

			Value		Shares		↓ Weighting
BTTGY	Exit	BT Group PLC ADR	$0	–	-3,621	–	-0.08%	–
DEO	Exit	Diageo PLC Sp ADR	$0	–	-1,600	–	-0.09%	–
TGT	Exit	Target Corp	$0	–	-3,215	–	-0.09%	–
ALL	Exit	Allstate Corp	$0	–	-4,059	–	-0.09%	–
MSFT	Exit	Microsoft Corp	$0	–	-6,531	–	-0.09%	–
MTB	Exit	M & T Bank Corp	$0	–	-1,958	–	-0.09%	–
CSCO	Exit	Cisco Systems Inc	$0	–	-9,350	–	-0.09%	–
SHY	Exit	iShares Tr Barclays 1-3 Yrexchange traded fund	$0	–	-2,702	–	-0.10%	–
YUM	Exit	Yum Brands Inc	$0	–	-3,226	–	-0.10%	–
MGK	Exit	Vanguard World Fund Mega Growtexchange traded fund	$0	–	-3,526	–	-0.10%	–
IJK	Exit	iShares Tr S&P Mid Cap 400 Groexchange traded fund	$0	–	-1,795	–	-0.11%	–
INTC	Exit	Intel Corp	$0	–	-11,665	–	-0.11%	–
MCD	Exit	McDonalds Corp	$0	–	-2,891	–	-0.12%	–
UN	Exit	Unilever NV NY	$0	–	-7,719	–	-0.12%	–
PG	Exit	Procter & Gamble Co	$0	–	-3,896	–	-0.12%	–
JNJ	Exit	Johnson & Johnson	$0	–	-3,475	–	-0.13%	–
WAG	Exit	Walgreen Co	$0	–	-6,455	–	-0.15%	–
SDY	Exit	SPDR Series Trust S&P Div ETFexchange traded fund	$0	–	-5,293	–	-0.16%	–
TRST	Exit	Trustco Bank Corp NY	$0	–	-62,583	–	-0.16%	–
VIOO	Exit	Vanguard Small Cap 600 Indexexchange traded fund	$0	–	-4,389	–	-0.17%	–
MGV	Exit	Vanguard World Fund Mega Valueexchange traded fund	$0	–	-8,075	–	-0.17%	–
IWV	Exit	iShares Tr Russell 3000exchange traded fund	$0	–	-6,518	–	-0.28%	–
VEU	Exit	Vanguard Intl Equity Index Funexchange traded fund	$0	–	-14,723	–	-0.30%	–
IVOO	Exit	Vanguard Mid Cap 400 Indexexchange traded fund	$0	–	-9,128	–	-0.32%	–
IVE	Exit	iShares Tr S&P 500 Valueexchange traded fund	$0	–	-16,793	–	-0.56%	–
XLP	Exit	Select Sector SPDR Tr SBI Consexchange traded fund	$0	–	-33,300	–	-0.56%	–
XLI	Exit	Select Sector SPDR Tr SBI Induexchange traded fund	$0	–	-29,790	–	-0.58%	–
XLE	Exit	Select Sector SPDR Tr SBI Enerexchange traded fund	$0	–	-16,895	–	-0.59%	–
XLK	Exit	Select Sector SPDR Tr SBI Techexchange traded fund	$0	–	-50,595	–	-0.69%	–
BSV	Exit	Vanguard Bond Index Fund Inc Sexchange traded fund	$0	–	-20,565	–	-0.70%	–
XLV	Exit	Select Sector SPDR Healthcareexchange traded fund	$0	–	-33,345	–	-0.71%	–
AGG	Exit	iShares Tr Barclays US Aggregexchange traded fund	$0	–	-16,900	–	-0.77%	–
ABT	Exit	Abbott Laboratories	$0	–	-59,603	–	-0.84%	–
ESV	Exit	Ensco PLC Class A	$0	–	-38,182	–	-0.87%	–
XLY	Exit	Select Sector SPDR Tr SBI Consexchange traded fund	$0	–	-37,090	–	-0.95%	–
VZ	Exit	Verizon Communications Inc	$0	–	-50,122	–	-0.99%	–
ABBV	Exit	Abbvie Inc	$0	–	-52,566	–	-1.00%	–
IBCC	Exit	iShares 2018 Inv Grade Bondexchange traded fund	$0	–	-24,870	–	-1.04%	–
IVW	Exit	iShares Tr S&P 500 Growthexchange traded fund	$0	–	-28,537	–	-1.08%	–
MRK	Exit	Merck & Co Inc	$0	–	-58,509	–	-1.18%	–
JCI	Exit	Johnson Controls Inc	$0	–	-70,005	–	-1.23%	–
XOM	Exit	Exxon Mobil Corp	$0	–	-34,180	–	-1.24%	–
XLF	Exit	Select Sector SPDR Tr SBI Finaexchange traded fund	$0	–	-148,110	–	-1.25%	–
XLB	Exit	Select Sector SPDR Tr SBI Mateexchange traded fund	$0	–	-71,049	–	-1.26%	–
COP	Exit	ConocoPhillips	$0	–	-43,206	–	-1.27%	–
IGSB	Exit	iShares Tr Barclays 1-3 Yearsexchange traded fund	$0	–	-28,580	–	-1.27%	–
PFE	Exit	Pfizer Inc	$0	–	-108,574	–	-1.32%	–
TRV	Exit	Travelers Companies Inc	$0	–	-37,116	–	-1.33%	–
BUD	Exit	Anheuser-Busch InBev SA NV Sp	$0	–	-32,855	–	-1.38%	–
BAX	Exit	Baxter Intl Inc	$0	–	-49,623	–	-1.38%	–
XLU	Exit	Select Sector SPDR Tr SBI Utilexchange traded fund	$0	–	-87,361	–	-1.38%	–
HAS	Exit	Hasbro Inc	$0	–	-71,713	–	-1.43%	–
FRC	Exit	First Republic Bank San Fran C	$0	–	-73,505	–	-1.45%	–
GE	Exit	General Electric Co	$0	–	-149,014	–	-1.51%	–
A309PS	Exit	DirecTV	$0	–	-62,775	–	-1.59%	–
UTX	Exit	United Technologies Corp	$0	–	-35,774	–	-1.63%	–
MYL	Exit	Mylan Inc	$0	–	-106,680	–	-1.72%	–
BEN	Exit	Franklin Resources Inc	$0	–	-83,399	–	-1.78%	–
FITB	Exit	Fifth Third Bancorp	$0	–	-234,737	–	-1.79%	–
CHKP	Exit	Check Point Software Tech Ltd	$0	–	-76,490	–	-1.83%	–
UNP	Exit	Union Pacific Corp	$0	–	-28,872	–	-1.90%	–
AXP	Exit	American Express Co	$0	–	-60,611	–	-1.94%	–
IBM	Exit	International Business Machine	$0	–	-25,269	–	-1.98%	–
ORCL	Exit	Oracle Corp	$0	–	-142,084	–	-2.00%	–
VTI	Exit	Vanguard Index Funds Stock Mktexchange traded fund	$0	–	-55,080	–	-2.04%	–
TXN	Exit	Texas Instruments Inc	$0	–	-120,523	–	-2.06%	–
JPM	Exit	JPMorgan Chase & Co	$0	–	-99,354	–	-2.18%	–
IGIB	Exit	iShares Tr Barclays Interm Creexchange traded fund	$0	–	-49,817	–	-2.28%	–
CHD	Exit	Church & Dwight Inc	$0	–	-98,646	–	-2.51%	–
CL	Exit	Colgate Palmolive Co	$0	–	-105,020	–	-2.64%	–
DIS	Exit	Disney Walt Co Disney	$0	–	-96,796	–	-2.64%	–
GVI	Exit	iShares Tr Barclays Interm Govexchange traded fund	$0	–	-61,628	–	-2.87%	–
IJR	Exit	iShares Tr S&P Small Cap 600exchange traded fund	$0	–	-70,797	–	-2.99%	–
CMBS	Exit	iShares Barclays CMBSexchange traded fund	$0	–	-145,923	–	-3.19%	–
VOO	Exit	Vanguard S&P 500 ETF Shexchange traded fund	$0	–	-103,794	–	-3.38%	–
BND	Exit	Vanguard Bond Index Fund Inc Texchange traded fund	$0	–	-110,433	–	-3.78%	–
ACWX	Exit	iShares Tr MSCI ACWI Exexchange traded fund	$0	–	-210,074	–	-3.99%	–
SPY	Exit	SPDR S&P 500 Index ETFexchange traded fund	$0	–	-59,949	–	-4.26%	–
MDY	Exit	SPDR S&P Mid Cap 400 ETF Trexchange traded fund	$0	–	-60,949	–	-5.84%	–

Q3 2013

			Value		Shares		↓ Weighting
MDY	Buy	SPDR S&P Mid Cap 400 ETF Trexchange traded fund	$13,795,000	+12.4%	60,949	+4.3%	5.84%	+4.2%
SPY	Buy	SPDR S&P 500 Index ETFexchange traded fund	$10,072,000	+7.2%	59,949	+2.4%	4.26%	-0.6%
ACWX	New	iShares Tr MSCI ACWI Exexchange traded fund	$9,416,000	–	210,074	–	3.99%	–
BND	Buy	Vanguard Bond Index Fund Inc Texchange traded fund	$8,932,000	+117.1%	110,433	+117.1%	3.78%	+101.3%
VOO	Buy	Vanguard S&P 500 ETF Shexchange traded fund	$7,992,000	+116.6%	103,794	+106.3%	3.38%	+100.9%
CMBS	Sell	iShares Barclays CMBSexchange traded fund	$7,527,000	-1.3%	145,923	-2.0%	3.19%	-8.4%
IJR	Buy	iShares Tr S&P Small Cap 600exchange traded fund	$7,066,000	+14.7%	70,797	+3.8%	2.99%	+6.4%
GVI	Sell	iShares Tr Barclays Interm Govexchange traded fund	$6,785,000	-1.6%	61,628	-1.8%	2.87%	-8.8%
DIS	Buy	Disney Walt Co Disney	$6,242,000	+7.0%	96,796	+4.8%	2.64%	-0.8%
CL	Buy	Colgate Palmolive Co	$6,228,000	+8.1%	105,020	+4.4%	2.64%	+0.3%
CHD	Buy	Church & Dwight Inc	$5,924,000	+1.4%	98,646	+4.2%	2.51%	-5.9%
IGIB	Sell	iShares Tr Barclays Interm Creexchange traded fund	$5,377,000	-2.5%	49,817	-2.7%	2.28%	-9.6%
JPM	Buy	JPMorgan Chase & Co	$5,136,000	+1.1%	99,354	+3.2%	2.18%	-6.2%
TXN	Sell	Texas Instruments Inc	$4,856,000	+11.4%	120,523	-3.7%	2.06%	+3.3%
VTI	Buy	Vanguard Index Funds Stock Mktexchange traded fund	$4,828,000	+7.5%	55,080	+1.4%	2.04%	-0.2%
ORCL	Sell	Oracle Corp	$4,713,000	-12.8%	142,084	-19.3%	2.00%	-19.2%
IBM	Sell	International Business Machine	$4,679,000	-13.5%	25,269	-10.7%	1.98%	-19.7%
AXP	Buy	American Express Co	$4,577,000	+5.3%	60,611	+4.3%	1.94%	-2.4%
UNP	Buy	Union Pacific Corp	$4,485,000	+4.6%	28,872	+3.9%	1.90%	-3.0%
CHKP	New	Check Point Software Tech Ltd	$4,326,000	–	76,490	–	1.83%	–
FITB	Buy	Fifth Third Bancorp	$4,237,000	+2.6%	234,737	+2.6%	1.79%	-4.8%
BEN	Buy	Franklin Resources Inc	$4,216,000	+16.9%	83,399	+214.5%	1.78%	+8.4%
MYL	New	Mylan Inc	$4,072,000	–	106,680	–	1.72%	–
UTX	Buy	United Technologies Corp	$3,857,000	+19.3%	35,774	+2.8%	1.63%	+10.6%
A309PS	Buy	DirecTV	$3,753,000	+1.5%	62,775	+4.7%	1.59%	-5.9%
GE	Buy	General Electric Co	$3,560,000	+6.6%	149,014	+3.5%	1.51%	-1.1%
FRC	Buy	First Republic Bank San Fran C	$3,428,000	+26.4%	73,505	+4.3%	1.45%	+17.3%
HAS	Buy	Hasbro Inc	$3,381,000	+9.3%	71,713	+4.0%	1.43%	+1.4%
XLU	Sell	Select Sector SPDR Tr SBI Utilexchange traded fund	$3,265,000	-51.9%	87,361	-51.6%	1.38%	-55.4%
BAX	Buy	Baxter Intl Inc	$3,260,000	-2.5%	49,623	+2.8%	1.38%	-9.5%
BUD	Buy	Anheuser-Busch InBev SA NV Sp	$3,259,000	+15.3%	32,855	+4.9%	1.38%	+6.9%
TRV	Buy	Travelers Companies Inc	$3,146,000	+10.8%	37,116	+4.5%	1.33%	+2.7%
PFE	Buy	Pfizer Inc	$3,119,000	+6.7%	108,574	+4.0%	1.32%	-1.0%
IGSB	Buy	iShares Tr Barclays 1-3 Yearsexchange traded fund	$3,009,000	+1.0%	28,580	+0.8%	1.27%	-6.3%
COP	Buy	ConocoPhillips	$3,003,000	+20.0%	43,206	+4.4%	1.27%	+11.3%
XLB	Buy	Select Sector SPDR Tr SBI Mateexchange traded fund	$2,985,000	+13.1%	71,049	+3.2%	1.26%	+4.8%
XLF	Buy	Select Sector SPDR Tr SBI Finaexchange traded fund	$2,948,000	+126.8%	148,110	+121.5%	1.25%	+110.1%
XOM	Buy	Exxon Mobil Corp	$2,941,000	-1.5%	34,180	+3.5%	1.24%	-8.7%
JCI	New	Johnson Controls Inc	$2,905,000	–	70,005	–	1.23%	–
MRK	Buy	Merck & Co Inc	$2,786,000	+7.0%	58,509	+4.4%	1.18%	-0.8%
IVW	Buy	iShares Tr S&P 500 Growthexchange traded fund	$2,550,000	+111.3%	28,537	+98.6%	1.08%	+96.0%
IBCC	Buy	iShares 2018 Inv Grade Bondexchange traded fund	$2,465,000	+2.6%	24,870	+0.6%	1.04%	-4.8%
ABBV	Buy	Abbvie Inc	$2,351,000	+12.8%	52,566	+4.2%	1.00%	+4.6%
VZ	Buy	Verizon Communications Inc	$2,339,000	-3.1%	50,122	+4.5%	0.99%	-10.2%
XLY	Sell	Select Sector SPDR Tr SBI Consexchange traded fund	$2,249,000	-6.9%	37,090	-13.4%	0.95%	-13.7%
ESV	Buy	Ensco PLC Class A	$2,052,000	-3.4%	38,182	+4.4%	0.87%	-10.4%
ABT	Buy	Abbott Laboratories	$1,978,000	-1.2%	59,603	+3.8%	0.84%	-8.4%
AGG	Sell	iShares Tr Barclays US Aggregexchange traded fund	$1,812,000	-84.3%	16,900	-84.3%	0.77%	-85.4%
XLV	Sell	Select Sector SPDR Healthcareexchange traded fund	$1,687,000	-30.8%	33,345	-34.9%	0.71%	-35.8%
BSV	New	Vanguard Bond Index Fund Inc Sexchange traded fund	$1,653,000	–	20,565	–	0.70%	–
XLK	Sell	Select Sector SPDR Tr SBI Techexchange traded fund	$1,621,000	-21.7%	50,595	-25.3%	0.69%	-27.5%
XLE	Buy	Select Sector SPDR Tr SBI Enerexchange traded fund	$1,401,000	+55.7%	16,895	+47.0%	0.59%	+44.3%
XLI	Buy	Select Sector SPDR Tr SBI Induexchange traded fund	$1,382,000	+67.7%	29,790	+54.1%	0.58%	+55.6%
XLP	Sell	Select Sector SPDR Tr SBI Consexchange traded fund	$1,325,000	-36.5%	33,300	-36.7%	0.56%	-41.1%
IVE	Sell	iShares Tr S&P 500 Valueexchange traded fund	$1,315,000	-41.8%	16,793	-43.7%	0.56%	-46.0%
IVOO	Buy	Vanguard Mid Cap 400 Indexexchange traded fund	$765,000	+119.8%	9,128	+104.3%	0.32%	+103.8%
VEU	Buy	Vanguard Intl Equity Index Funexchange traded fund	$716,000	+142.7%	14,723	+120.5%	0.30%	+124.4%
IWV	Sell	iShares Tr Russell 3000exchange traded fund	$659,000	-2.1%	6,518	-6.6%	0.28%	-9.1%
VIOO	New	Vanguard Small Cap 600 Indexexchange traded fund	$396,000	–	4,389	–	0.17%	–
SDY	Buy	SPDR Series Trust S&P Div ETFexchange traded fund	$365,000	+8.6%	5,293	+4.5%	0.16%	+1.3%
WAG	Sell	Walgreen Co	$347,000	+12.3%	6,455	-7.6%	0.15%	+4.3%
PG	Sell	Procter & Gamble Co	$294,000	-6.4%	3,896	-4.5%	0.12%	-12.6%
UN	Sell	Unilever NV NY	$291,000	-13.1%	7,719	-9.4%	0.12%	-19.6%
MCD	Sell	McDonalds Corp	$278,000	-11.2%	2,891	-8.4%	0.12%	-17.5%
INTC	Sell	Intel Corp	$267,000	-11.6%	11,665	-6.5%	0.11%	-18.1%
IJK	New	iShares Tr S&P Mid Cap 400 Groexchange traded fund	$250,000	–	1,795	–	0.11%	–
YUM	Sell	Yum Brands Inc	$230,000	-9.8%	3,226	-12.4%	0.10%	-16.4%
MTB	Sell	M & T Bank Corp	$219,000	-10.6%	1,958	-10.9%	0.09%	-17.0%
CSCO	Sell	Cisco Systems Inc	$219,000	-12.4%	9,350	-9.0%	0.09%	-18.4%
MSFT	Sell	Microsoft Corp	$217,000	-11.1%	6,531	-7.5%	0.09%	-17.1%
ALL	Sell	Allstate Corp	$205,000	-6.0%	4,059	-10.4%	0.09%	-13.0%
TGT	Sell	Target Corp	$206,000	-17.3%	3,215	-10.9%	0.09%	-23.7%
DEO	Sell	Diageo PLC Sp ADR	$203,000	0.0%	1,600	-9.3%	0.09%	-7.5%
BTTGY	New	BT Group PLC ADR	$200,000	–	3,621	–	0.08%	–
IJJ	Exit	iShares Tr S&P Mid Cap Valueexchange traded fund	$0	–	-2,079	–	-0.10%	–
CAM	Exit	Cameron International Corp	$0	–	-3,570	–	-0.10%	–
VWO	Exit	Vanguard Emerg Mkt ETFexchange traded fund	$0	–	-67,092	–	-1.19%	–
COH	Exit	Coach Inc	$0	–	-53,925	–	-1.41%	–
VEA	Exit	Vanguard Tax-Managed Fund Euroexchange traded fund	$0	–	-160,896	–	-2.62%	–

Q2 2013

			Value		Shares		↓ Weighting
MDY	New	SPDR S&P Mid Cap 400 ETF Trexchange traded fund	$12,276,000	–	58,427	–	5.61%	–
AGG	New	iShares Tr Barclays US Aggregexchange traded fund	$11,537,000	–	107,616	–	5.27%	–
SPY	New	SPDR S&P 500 Index ETFexchange traded fund	$9,393,000	–	58,554	–	4.29%	–
CMBS	New	iShares Barclays CMBSexchange traded fund	$7,623,000	–	148,923	–	3.48%	–
GVI	New	iShares Tr Barclays Interm Govexchange traded fund	$6,896,000	–	62,785	–	3.15%	–
XLU	New	Select Sector SPDR Tr SBI Utilexchange traded fund	$6,790,000	–	180,440	–	3.10%	–
IJR	New	iShares Tr S&P Small Cap 600exchange traded fund	$6,158,000	–	68,186	–	2.81%	–
CHD	New	Church & Dwight Inc	$5,841,000	–	94,654	–	2.67%	–
DIS	New	Disney Walt Co Disney	$5,833,000	–	92,371	–	2.66%	–
CL	New	Colgate Palmolive Co	$5,761,000	–	100,551	–	2.63%	–
VEA	New	Vanguard Tax-Managed Fund Euroexchange traded fund	$5,728,000	–	160,896	–	2.62%	–
IGIB	New	iShares Tr Barclays Interm Creexchange traded fund	$5,513,000	–	51,182	–	2.52%	–
ORCL	New	Oracle Corp	$5,407,000	–	176,059	–	2.47%	–
IBM	New	International Business Machine	$5,407,000	–	28,292	–	2.47%	–
JPM	New	JPMorgan Chase & Co	$5,081,000	–	96,248	–	2.32%	–
VTI	New	Vanguard Index Funds Stock Mktexchange traded fund	$4,490,000	–	54,309	–	2.05%	–
TXN	New	Texas Instruments Inc	$4,360,000	–	125,096	–	1.99%	–
AXP	New	American Express Co	$4,346,000	–	58,139	–	1.98%	–
UNP	New	Union Pacific Corp	$4,286,000	–	27,780	–	1.96%	–
FITB	New	Fifth Third Bancorp	$4,128,000	–	228,693	–	1.88%	–
BND	New	Vanguard Bond Index Fund Inc Texchange traded fund	$4,114,000	–	50,868	–	1.88%	–
A309PS	New	DirecTV	$3,696,000	–	59,965	–	1.69%	–
VOO	New	Vanguard S&P 500 ETF Shexchange traded fund	$3,689,000	–	50,304	–	1.68%	–
BEN	New	Franklin Resources Inc	$3,607,000	–	26,521	–	1.65%	–
BAX	New	Baxter Intl Inc	$3,342,000	–	48,251	–	1.53%	–
GE	New	General Electric Co	$3,339,000	–	143,979	–	1.52%	–
UTX	New	United Technologies Corp	$3,234,000	–	34,798	–	1.48%	–
HAS	New	Hasbro Inc	$3,092,000	–	68,965	–	1.41%	–
COH	New	Coach Inc	$3,079,000	–	53,925	–	1.41%	–
XOM	New	Exxon Mobil Corp	$2,985,000	–	33,033	–	1.36%	–
IGSB	New	iShares Tr Barclays 1-3 Yearsexchange traded fund	$2,978,000	–	28,355	–	1.36%	–
PFE	New	Pfizer Inc	$2,923,000	–	104,352	–	1.34%	–
TRV	New	Travelers Companies Inc	$2,840,000	–	35,533	–	1.30%	–
BUD	New	Anheuser-Busch InBev SA NV Sp	$2,826,000	–	31,310	–	1.29%	–
FRC	New	First Republic Bank San Fran C	$2,711,000	–	70,452	–	1.24%	–
XLB	New	Select Sector SPDR Tr SBI Mateexchange traded fund	$2,640,000	–	68,840	–	1.21%	–
MRK	New	Merck & Co Inc	$2,603,000	–	56,034	–	1.19%	–
VWO	New	Vanguard Emerg Mkt ETFexchange traded fund	$2,603,000	–	67,092	–	1.19%	–
COP	New	ConocoPhillips	$2,503,000	–	41,374	–	1.14%	–
XLV	New	Select Sector SPDR Healthcareexchange traded fund	$2,438,000	–	51,200	–	1.11%	–
XLY	New	Select Sector SPDR Tr SBI Consexchange traded fund	$2,416,000	–	42,845	–	1.10%	–
VZ	New	Verizon Communications Inc	$2,415,000	–	47,972	–	1.10%	–
IBCC	New	iShares 2018 Inv Grade Bondexchange traded fund	$2,403,000	–	24,730	–	1.10%	–
IVE	New	iShares Tr S&P 500 Valueexchange traded fund	$2,258,000	–	29,803	–	1.03%	–
ESV	New	Ensco PLC Class A	$2,125,000	–	36,556	–	0.97%	–
XLP	New	Select Sector SPDR Tr SBI Consexchange traded fund	$2,087,000	–	52,600	–	0.95%	–
ABBV	New	Abbvie Inc	$2,085,000	–	50,424	–	0.95%	–
XLK	New	Select Sector SPDR Tr SBI Techexchange traded fund	$2,071,000	–	67,700	–	0.95%	–
ABT	New	Abbott Laboratories	$2,003,000	–	57,423	–	0.92%	–
XLF	New	Select Sector SPDR Tr SBI Finaexchange traded fund	$1,300,000	–	66,865	–	0.59%	–
IVW	New	iShares Tr S&P 500 Growthexchange traded fund	$1,207,000	–	14,372	–	0.55%	–
XLE	New	Select Sector SPDR Tr SBI Enerexchange traded fund	$900,000	–	11,495	–	0.41%	–
XLI	New	Select Sector SPDR Tr SBI Induexchange traded fund	$824,000	–	19,330	–	0.38%	–
IWV	New	iShares Tr Russell 3000exchange traded fund	$673,000	–	6,978	–	0.31%	–
MGV	New	Vanguard World Fund Mega Valueexchange traded fund	$396,000	–	8,075	–	0.18%	–
IVOO	New	Vanguard Mid Cap 400 Indexexchange traded fund	$348,000	–	4,468	–	0.16%	–
TRST	New	Trustco Bank Corp NY	$340,000	–	62,583	–	0.16%	–
UN	New	Unilever NV NY	$335,000	–	8,522	–	0.15%	–
SDY	New	SPDR Series Trust S&P Div ETFexchange traded fund	$336,000	–	5,065	–	0.15%	–
PG	New	Procter & Gamble Co	$314,000	–	4,078	–	0.14%	–
MCD	New	McDonalds Corp	$313,000	–	3,157	–	0.14%	–
WAG	New	Walgreen Co	$309,000	–	6,985	–	0.14%	–
INTC	New	Intel Corp	$302,000	–	12,470	–	0.14%	–
JNJ	New	Johnson & Johnson	$298,000	–	3,475	–	0.14%	–
VEU	New	Vanguard Intl Equity Index Funexchange traded fund	$295,000	–	6,678	–	0.14%	–
YUM	New	Yum Brands Inc	$255,000	–	3,681	–	0.12%	–
TGT	New	Target Corp	$249,000	–	3,610	–	0.11%	–
CSCO	New	Cisco Systems Inc	$250,000	–	10,280	–	0.11%	–
MTB	New	M & T Bank Corp	$245,000	–	2,197	–	0.11%	–
MSFT	New	Microsoft Corp	$244,000	–	7,062	–	0.11%	–
SHY	New	iShares Tr Barclays 1-3 Yrexchange traded fund	$228,000	–	2,702	–	0.10%	–
CAM	New	Cameron International Corp	$218,000	–	3,570	–	0.10%	–
ALL	New	Allstate Corp	$218,000	–	4,531	–	0.10%	–
MGK	New	Vanguard World Fund Mega Growtexchange traded fund	$213,000	–	3,526	–	0.10%	–
IJJ	New	iShares Tr S&P Mid Cap Valueexchange traded fund	$211,000	–	2,079	–	0.10%	–
DEO	New	Diageo PLC Sp ADR	$203,000	–	1,765	–	0.09%	–

Compare quarters

Export Hugh Johnson Advisors LLC's holdings