Stillwater Capital Advisors, LLC Activity Q4 2009-Q3 2023

Q3 2023

			Value		Shares		↓ Weighting
AAPL	Sell	APPLE INC	$44,874,712	-13.2%	262,103	-1.6%	8.17%	-10.7%
MSFT	Sell	MICROSOFT CORP	$37,975,872	-8.2%	120,272	-1.0%	6.91%	-5.6%
NVDA	Buy	NVIDIA CORPORATION	$26,959,248	+2.9%	61,977	+0.1%	4.91%	+5.9%
AVGO	Sell	BROADCOM INC	$25,514,421	-5.1%	30,719	-0.8%	4.64%	-2.3%
XLK	Buy	SELECT SECTOR SPDR TRtechnology	$25,437,069	-3.0%	155,170	+2.9%	4.63%	-0.2%
GOOGL	Sell	ALPHABET INCcap stk cl a	$21,034,365	+9.1%	160,739	-0.2%	3.83%	+12.3%
MRK	Sell	MERCK & CO INC	$19,226,778	-10.9%	186,758	-0.1%	3.50%	-8.3%
UNH	Sell	UNITEDHEALTH GROUP INC	$18,158,798	+4.8%	36,016	-0.1%	3.30%	+7.8%
JPM	Buy	JPMORGAN CHASE & CO	$16,831,837	+0.1%	116,066	+0.4%	3.06%	+3.0%
HD	Buy	HOME DEPOT INC	$15,653,364	-2.5%	51,805	+0.2%	2.85%	+0.3%
MAR	Buy	MARRIOTT INTL INC NEWcl a	$15,222,441	+7.3%	77,444	+0.2%	2.77%	+10.4%
V	Buy	VISA INC	$14,259,142	-2.8%	61,994	+0.4%	2.60%	+0.1%
WMT	Buy	WALMART INC	$13,729,538	+2.2%	85,847	+0.4%	2.50%	+5.1%
ABBV	New	ABBVIE INC	$13,662,095	–	91,655	–	2.49%	–
TMUS	New	T-MOBILE US INC	$13,488,776	–	96,314	–	2.46%	–
MDLZ	Buy	MONDELEZ INTL INCcl a	$13,441,751	-4.5%	193,685	+0.3%	2.45%	-1.8%
RTX	Buy	RTX CORPORATION	$13,290,179	-26.3%	184,663	+0.3%	2.42%	-24.2%
IYW	Sell	ISHARES TRu.s. tech etf	$12,795,099	-4.0%	121,951	-0.4%	2.33%	-1.3%
BLK	Buy	BLACKROCK INC	$12,456,936	-5.9%	19,269	+0.6%	2.27%	-3.2%
XLV	Buy	SELECT SECTOR SPDR TRsbi healthcare	$11,643,818	-0.3%	90,444	+2.8%	2.12%	+2.6%
KO	Sell	COCA COLA CO	$11,135,399	-7.3%	198,917	-0.3%	2.03%	-4.7%
CAT	Buy	CATERPILLAR INC	$11,084,700	+11.5%	40,603	+0.5%	2.02%	+14.7%
IWF	Buy	ISHARES TRrus 1000 grw etf	$11,035,316	+1.3%	41,488	+4.8%	2.01%	+4.2%
UPS	Buy	UNITED PARCEL SERVICE INCcl b	$10,790,104	-12.7%	69,225	+0.4%	1.96%	-10.2%
XLY	Buy	SELECT SECTOR SPDR TRsbi cons discr	$10,551,047	-3.2%	65,543	+2.1%	1.92%	-0.4%
HSY	Sell	HERSHEY CO	$10,115,708	-20.2%	50,558	-0.4%	1.84%	-17.8%
XLF	Buy	SELECT SECTOR SPDR TRfinancial	$10,035,562	+9.1%	302,549	+10.9%	1.83%	+12.3%
JNJ	Buy	JOHNSON & JOHNSON	$9,420,208	-5.5%	60,483	+0.5%	1.71%	-2.7%
NEAR	Sell	ISHARES U S ETF TRblackrock st mat	$8,827,784	-5.2%	176,945	-5.5%	1.61%	-2.5%
XLC	Buy	SELECT SECTOR SPDR TR	$6,478,651	+2.8%	98,805	+2.0%	1.18%	+5.7%
XLI	Buy	SELECT SECTOR SPDR TRindl	$6,319,585	-3.4%	62,336	+2.3%	1.15%	-0.6%
VYM	Buy	VANGUARD WHITEHALL FDShigh div yld	$5,959,160	-1.4%	57,677	+1.2%	1.08%	+1.4%
IYH	Sell	ISHARES TRus hlthcare etf	$5,468,918	-5.0%	20,250	-1.4%	1.00%	-2.3%
IYF	Buy	ISHARES TRu.s. finls etf	$4,681,845	+1.1%	62,625	+0.9%	0.85%	+4.0%
XLP	Buy	SELECT SECTOR SPDR TRsbi cons stpls	$4,570,599	-5.5%	66,423	+1.9%	0.83%	-2.7%
XLE	Buy	SELECT SECTOR SPDR TRenergy	$4,555,774	+13.1%	50,401	+1.6%	0.83%	+16.4%
VEA	Sell	VANGUARD TAX-MANAGED FDSvan ftse dev mkt	$2,795,773	-6.5%	63,947	-1.3%	0.51%	-3.8%
IYC	Sell	ISHARES TRus consum discre	$2,449,031	-6.0%	36,580	-0.0%	0.45%	-3.3%
VOE	Buy	VANGUARD INDEX FDSmcap vl idxvip	$2,390,943	-4.2%	18,257	+1.2%	0.44%	-1.4%
IWD	Sell	ISHARES TRrus 1000 val etf	$2,338,617	-7.3%	15,404	-3.6%	0.43%	-4.5%
IWP	Buy	ISHARES TRrus md cp gr etf	$2,013,715	-4.0%	22,044	+1.6%	0.37%	-1.3%
XLB	Buy	SELECT SECTOR SPDR TRsbi materials	$1,896,987	-3.6%	24,150	+1.7%	0.34%	-0.9%
SLYG	Buy	SPDR SER TRs&p 600 smcp grw	$1,623,667	-3.5%	22,160	+1.3%	0.30%	-1.0%
IJS	Buy	ISHARES TRsp smcp600vl etf	$1,600,187	-4.8%	17,935	+1.4%	0.29%	-2.0%
IYJ	Sell	ISHARES TRus industrials	$1,406,710	-5.7%	13,943	-0.9%	0.26%	-3.0%
SHW	Sell	SHERWIN WILLIAMS CO	$1,242,094	-10.8%	4,870	-7.1%	0.23%	-8.1%
VWO	Buy	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$1,065,397	-2.4%	27,172	+1.3%	0.19%	+0.5%
AMZN	Buy	AMAZON COM INC	$1,048,740	-2.2%	8,250	+0.2%	0.19%	+0.5%
XLRE	Buy	SELECT SECTOR SPDR TRrl est sel sec	$1,007,383	-8.1%	29,568	+1.7%	0.18%	-5.7%
XLU	Buy	SELECT SECTOR SPDR TRsbi int-utils	$951,353	-8.3%	16,144	+1.8%	0.17%	-6.0%
VO	Sell	VANGUARD INDEX FDSmid cap etf	$896,265	-9.2%	4,304	-4.0%	0.16%	-6.9%
VB	Sell	VANGUARD INDEX FDSsmall cp etf	$785,586	-9.4%	4,155	-4.7%	0.14%	-6.5%
GOOG	Sell	ALPHABET INCcap stk cl c	$657,273	-3.5%	4,985	-11.5%	0.12%	0.0%
LLY	Buy	ELI LILLY & CO	$592,951	+15.6%	1,104	+0.9%	0.11%	+18.7%
IWR	Sell	ISHARES TRrus mid cap etf	$557,113	-7.3%	8,045	-2.3%	0.10%	-4.7%
IWM	Sell	ISHARES TRrussell 2000 etf	$483,523	-7.3%	2,736	-1.8%	0.09%	-4.3%
TSLA	Sell	TESLA INC	$409,110	-7.0%	1,635	-2.7%	0.07%	-5.1%
WDAY	New	WORKDAY INCcl a	$284,462	–	1,324	–	0.05%	–
EEM	Sell	ISHARES TRmsci emg mkt etf	$219,731	-8.3%	5,790	-4.5%	0.04%	-4.8%
EPD	New	ENTERPRISE PRODS PARTNERS L	$126,289	–	4,614	–	0.02%	–
MMP	Exit	MAGELLAN MIDSTREAM PRTNRS LP	$0	–	-4,710	–	-0.05%	–
DIS	Exit	DISNEY WALT CO	$0	–	-86,790	–	-1.37%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC	$0	–	-22,535	–	-2.08%	–

Q2 2023

			Value		Shares		↓ Weighting
AAPL	New	APPLE INC	$51,681,024	–	266,438	–	9.14%	–
MSFT	New	MICROSOFT CORP	$41,375,569	–	121,500	–	7.32%	–
AVGO	New	BROADCOM INC	$26,871,857	–	30,979	–	4.75%	–
XLK	New	SELECT SECTOR SPDR TRtechnology	$26,214,600	–	150,780	–	4.64%	–
NVDA	New	NVIDIA CORPORATION	$26,202,157	–	61,941	–	4.63%	–
MRK	New	MERCK & CO INC	$21,569,342	–	186,926	–	3.82%	–
GOOGL	New	ALPHABET INCcap stk cl a	$19,281,929	–	161,085	–	3.41%	–
RTX	New	RAYTHEON TECHNOLOGIES CORP	$18,031,508	–	184,070	–	3.19%	–
UNH	New	UNITEDHEALTH GROUP INC	$17,328,377	–	36,053	–	3.06%	–
JPM	New	JPMORGAN CHASE & CO	$16,817,246	–	115,630	–	2.97%	–
HD	New	HOME DEPOT INC	$16,056,894	–	51,690	–	2.84%	–
V	New	VISA INC	$14,662,613	–	61,743	–	2.59%	–
MAR	New	MARRIOTT INTL INC NEWcl a	$14,192,853	–	77,265	–	2.51%	–
MDLZ	New	MONDELEZ INTL INCcl a	$14,079,128	–	193,023	–	2.49%	–
WMT	New	WALMART INC	$13,437,474	–	85,491	–	2.38%	–
IYW	New	ISHARES TRu.s. tech etf	$13,335,160	–	122,487	–	2.36%	–
BLK	New	BLACKROCK INC	$13,241,890	–	19,159	–	2.34%	–
HSY	New	HERSHEY CO	$12,673,074	–	50,753	–	2.24%	–
UPS	New	UNITED PARCEL SERVICE INCcl b	$12,354,379	–	68,923	–	2.18%	–
KO	New	COCA COLA CO	$12,014,461	–	199,509	–	2.12%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$11,757,631	–	22,535	–	2.08%	–
XLV	New	SELECT SECTOR SPDR TRsbi healthcare	$11,680,246	–	88,000	–	2.07%	–
XLY	New	SELECT SECTOR SPDR TRsbi cons discr	$10,901,886	–	64,200	–	1.93%	–
IWF	New	ISHARES TRrus 1000 grw etf	$10,893,987	–	39,589	–	1.93%	–
JNJ	New	JOHNSON & JOHNSON	$9,965,068	–	60,205	–	1.76%	–
CAT	New	CATERPILLAR INC	$9,938,732	–	40,393	–	1.76%	–
NEAR	New	ISHARES U S ETF TRblackrock st mat	$9,313,797	–	187,325	–	1.65%	–
XLF	New	SELECT SECTOR SPDR TRfinancial	$9,195,820	–	272,792	–	1.63%	–
DIS	New	DISNEY WALT CO	$7,748,597	–	86,790	–	1.37%	–
XLI	New	SELECT SECTOR SPDR TRsbi int-inds	$6,540,121	–	60,940	–	1.16%	–
XLC	New	SELECT SECTOR SPDR TR	$6,303,255	–	96,854	–	1.12%	–
VYM	New	VANGUARD WHITEHALL FDShigh div yld	$6,045,670	–	56,997	–	1.07%	–
IYH	New	ISHARES TRus hlthcare etf	$5,756,945	–	20,542	–	1.02%	–
XLP	New	SELECT SECTOR SPDR TRsbi cons stpls	$4,834,259	–	65,178	–	0.86%	–
IYF	New	ISHARES TRu.s. finls etf	$4,631,118	–	62,071	–	0.82%	–
XLE	New	SELECT SECTOR SPDR TRenergy	$4,026,844	–	49,610	–	0.71%	–
VEA	New	VANGUARD TAX-MANAGED FDSvan ftse dev mkt	$2,990,484	–	64,757	–	0.53%	–
IYC	New	ISHARES TRus consum discre	$2,604,517	–	36,597	–	0.46%	–
IWD	New	ISHARES TRrus 1000 val etf	$2,522,736	–	15,984	–	0.45%	–
VOE	New	VANGUARD INDEX FDSmcap vl idxvip	$2,496,173	–	18,039	–	0.44%	–
IWP	New	ISHARES TRrus md cp gr etf	$2,097,059	–	21,702	–	0.37%	–
XLB	New	SELECT SECTOR SPDR TRsbi materials	$1,967,000	–	23,736	–	0.35%	–
SLYG	New	SPDR SER TRs&p 600 smcp grw	$1,683,143	–	21,870	–	0.30%	–
IJS	New	ISHARES TRsp smcp600vl etf	$1,681,694	–	17,685	–	0.30%	–
IYJ	New	ISHARES TRus industrials	$1,492,195	–	14,072	–	0.26%	–
SHW	New	SHERWIN WILLIAMS CO	$1,392,653	–	5,245	–	0.25%	–
XLRE	New	SELECT SECTOR SPDR TRrl est sel sec	$1,096,143	–	29,083	–	0.19%	–
VWO	New	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$1,091,553	–	26,833	–	0.19%	–
AMZN	New	AMAZON COM INC	$1,072,863	–	8,230	–	0.19%	–
XLU	New	SELECT SECTOR SPDR TRsbi int-utils	$1,037,858	–	15,860	–	0.18%	–
VO	New	VANGUARD INDEX FDSmid cap etf	$987,198	–	4,484	–	0.18%	–
VB	New	VANGUARD INDEX FDSsmall cp etf	$867,161	–	4,360	–	0.15%	–
AGG	New	ISHARES TRcore us aggbd et	$737,564	–	7,530	–	0.13%	–
SGMS	New	LIGHT & WONDER INC	$698,671	–	10,161	–	0.12%	–
GOOG	New	ALPHABET INCcap stk cl c	$681,062	–	5,630	–	0.12%	–
IYK	New	ISHARES TRus consm staples	$668,368	–	3,337	–	0.12%	–
IWR	New	ISHARES TRrus mid cap etf	$601,180	–	8,232	–	0.11%	–
IWM	New	ISHARES TRrussell 2000 etf	$521,695	–	2,786	–	0.09%	–
LLY	New	LILLY ELI & CO	$513,029	–	1,094	–	0.09%	–
TSLA	New	TESLA INC	$439,774	–	1,680	–	0.08%	–
CVX	New	CHEVRON CORP NEW	$419,968	–	2,669	–	0.07%	–
MMP	New	MAGELLAN MIDSTREAM PRTNRS LP	$293,515	–	4,710	–	0.05%	–
IWO	New	ISHARES TRrus 2000 grw etf	$243,006	–	1,001	–	0.04%	–
EEM	New	ISHARES TRmsci emg mkt etf	$239,734	–	6,060	–	0.04%	–
LRCX	New	LAM RESEARCH CORP	$231,842	–	361	–	0.04%	–
WTRG	New	ESSENTIAL UTILS INC	$234,638	–	5,879	–	0.04%	–
DVY	New	ISHARES TRselect divid etf	$223,315	–	1,971	–	0.04%	–
FB	New	META PLATFORMS INCcl a	$212,079	–	739	–	0.04%	–
SPY	New	SPDR S&P 500 ETF TRtr unit	$215,878	–	487	–	0.04%	–
SNY	New	SANOFIsponsored adr	$211,274	–	3,920	–	0.04%	–

Q4 2022

			Value		Shares		↓ Weighting
LRCX	Exit	LAM RESEARCH CORP	$0	–	-546	–	-0.05%	–
DVY	Exit	ISHARES TRselect divid etf	$0	–	-1,886	–	-0.05%	–
EEM	Exit	ISHARES TRmsci emg mkt etf	$0	–	-5,975	–	-0.05%	–
NEE	Exit	NEXTERA ENERGY INC	$0	–	-2,690	–	-0.05%	–
MMP	Exit	MAGELLAN MIDSTREAM PRTNRS LP	$0	–	-4,710	–	-0.05%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-2,424	–	-0.05%	–
WTRG	Exit	ESSENTIAL UTILS INC	$0	–	-5,879	–	-0.06%	–
SCHM	Exit	SCHWAB STRATEGIC TRus mid-cap etf	$0	–	-4,305	–	-0.06%	–
CCK	Exit	CROWN HLDGS INC	$0	–	-4,262	–	-0.08%	–
LLY	Exit	LILLY ELI & CO	$0	–	-1,094	–	-0.08%	–
SCHX	Exit	SCHWAB STRATEGIC TRus lrg cap etf	$0	–	-8,742	–	-0.08%	–
IWM	Exit	ISHARES TRrussell 2000 etf	$0	–	-2,274	–	-0.09%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-2,657	–	-0.09%	–
SGMS	Exit	LIGHT & WONDER INC	$0	–	-9,787	–	-0.10%	–
IWR	Exit	ISHARES TRrus mid cap etf	$0	–	-6,985	–	-0.10%	–
IYK	Exit	ISHARES TRus consm staples	$0	–	-3,337	–	-0.14%	–
AGG	Exit	ISHARES TRcore us aggbd et	$0	–	-8,060	–	-0.18%	–
VB	Exit	VANGUARD INDEX FDSsmall cp etf	$0	–	-5,170	–	-0.20%	–
AMZN	Exit	AMAZON COM INC	$0	–	-8,200	–	-0.21%	–
VO	Exit	VANGUARD INDEX FDSmid cap etf	$0	–	-5,097	–	-0.22%	–
VWO	Exit	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$0	–	-27,148	–	-0.23%	–
XLU	Exit	SELECT SECTOR SPDR TRsbi int-utils	$0	–	-15,308	–	-0.23%	–
SPSB	Exit	SPDR SER TRportfolio short	$0	–	-43,555	–	-0.29%	–
SHW	Exit	SHERWIN WILLIAMS CO	$0	–	-6,223	–	-0.29%	–
IJS	Exit	ISHARES TRsp smcp600vl etf	$0	–	-18,224	–	-0.34%	–
SLYG	Exit	SPDR SER TRs&p 600 smcp grw	$0	–	-22,449	–	-0.35%	–
XLB	Exit	SELECT SECTOR SPDR TRsbi materials	$0	–	-23,069	–	-0.36%	–
KOMP	Exit	SPDR SER TRs&p kensho new	$0	–	-44,638	–	-0.39%	–
IWD	Exit	ISHARES TRrus 1000 val etf	$0	–	-13,309	–	-0.41%	–
VEA	Exit	VANGUARD TAX-MANAGED FDSvan ftse dev mkt	$0	–	-51,620	–	-0.43%	–
IYC	Exit	ISHARES TRus consum discre	$0	–	-36,979	–	-0.49%	–
IYJ	Exit	ISHARES TRus industrials	$0	–	-26,164	–	-0.50%	–
VOE	Exit	VANGUARD INDEX FDSmcap vl idxvip	$0	–	-18,950	–	-0.53%	–
XLE	Exit	SELECT SECTOR SPDR TRenergy	$0	–	-48,197	–	-0.79%	–
XLI	Exit	SELECT SECTOR SPDR TRsbi int-inds	$0	–	-46,750	–	-0.88%	–
XLP	Exit	SELECT SECTOR SPDR TRsbi cons stpls	$0	–	-62,682	–	-0.95%	–
XLC	Exit	SELECT SECTOR SPDR TR	$0	–	-92,399	–	-1.01%	–
IYH	Exit	ISHARES TRus hlthcare etf	$0	–	-20,873	–	-1.20%	–
VYM	Exit	VANGUARD WHITEHALL FDShigh div yld	$0	–	-56,938	–	-1.23%	–
CRM	Exit	SALESFORCE INC	$0	–	-49,326	–	-1.62%	–
NVDA	Exit	NVIDIA CORPORATION	$0	–	-63,809	–	-1.77%	–
NKE	Exit	NIKE INCcl b	$0	–	-94,496	–	-1.79%	–
DIS	Exit	DISNEY WALT CO	$0	–	-86,145	–	-1.85%	–
IWF	Exit	ISHARES TRrus 1000 grw etf	$0	–	-39,029	–	-1.87%	–
XLY	Exit	SELECT SECTOR SPDR TRsbi cons discr	$0	–	-61,632	–	-2.00%	–
IYW	Exit	ISHARES TRu.s. tech etf	$0	–	-123,179	–	-2.06%	–
XLV	Exit	SELECT SECTOR SPDR TRsbi healthcare	$0	–	-84,123	–	-2.32%	–
MDLZ	Exit	MONDELEZ INTL INCcl a	$0	–	-197,211	–	-2.47%	–
BLK	Exit	BLACKROCK INC	$0	–	-19,653	–	-2.47%	–
MAR	Exit	MARRIOTT INTL INC NEWcl a	$0	–	-79,164	–	-2.53%	–
V	Exit	VISA INC	$0	–	-62,874	–	-2.55%	–
WMT	Exit	WALMART INC	$0	–	-86,303	–	-2.55%	–
UPS	Exit	UNITED PARCEL SERVICE INCcl b	$0	–	-70,051	–	-2.58%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC	$0	–	-22,730	–	-2.63%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-118,313	–	-2.82%	–
IYF	Exit	ISHARES TRu.s. finls etf	$0	–	-201,656	–	-3.11%	–
PFE	Exit	PFIZER INC	$0	–	-313,470	–	-3.13%	–
AVGO	Exit	BROADCOM INC	$0	–	-32,356	–	-3.28%	–
HD	Exit	HOME DEPOT INC	$0	–	-53,521	–	-3.37%	–
NEAR	Exit	ISHARES U S ETF TRblackrock st mat	$0	–	-301,610	–	-3.39%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-162,368	–	-3.54%	–
RTX	Exit	RAYTHEON TECHNOLOGIES CORP	$0	–	-191,146	–	-3.57%	–
MRK	Exit	MERCK & CO INC	$0	–	-196,269	–	-3.86%	–
XLK	Exit	SELECT SECTOR SPDR TRtechnology	$0	–	-142,989	–	-3.88%	–
UNH	Exit	UNITEDHEALTH GROUP INC	$0	–	-37,377	–	-4.31%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-127,888	–	-6.80%	–
AAPL	Exit	APPLE INC	$0	–	-285,618	–	-9.01%	–

Q3 2022

			Value		Shares		↓ Weighting
AAPL	Sell	APPLE INC	$39,472,000	-6.9%	285,618	-7.9%	9.01%	+14.3%
MSFT	Sell	MICROSOFT CORP	$29,785,000	-14.7%	127,888	-6.0%	6.80%	+4.7%
UNH	Sell	UNITEDHEALTH GROUP INC	$18,877,000	-6.5%	37,377	-4.9%	4.31%	+14.9%
XLK	Sell	SELECT SECTOR SPDR TRtechnology	$16,984,000	-13.0%	142,989	-6.9%	3.88%	+6.8%
MRK	Sell	MERCK & CO INC	$16,903,000	-11.4%	196,269	-6.3%	3.86%	+8.8%
RTX	Sell	RAYTHEON TECHNOLOGIES CORP	$15,647,000	-18.4%	191,146	-4.2%	3.57%	+0.2%
GOOGL	Buy	ALPHABET INCcap stk cl a	$15,531,000	-16.2%	162,368	+1809.8%	3.54%	+3.0%
NEAR	Sell	ISHARES U S ETF TRblackrock st mat	$14,857,000	-12.0%	301,610	-12.0%	3.39%	+8.2%
HD	Sell	HOME DEPOT INC	$14,769,000	-3.9%	53,521	-4.5%	3.37%	+18.0%
AVGO	Sell	BROADCOM INC	$14,367,000	-14.7%	32,356	-6.6%	3.28%	+4.8%
PFE	Sell	PFIZER INC	$13,717,000	-21.1%	313,470	-5.4%	3.13%	-3.0%
IYF	Sell	ISHARES TRu.s. finls etf	$13,622,000	-9.3%	201,656	-6.1%	3.11%	+11.4%
JPM	Sell	JPMORGAN CHASE & CO	$12,364,000	-12.2%	118,313	-5.4%	2.82%	+7.8%
TMO	Sell	THERMO FISHER SCIENTIFIC INC	$11,528,000	-12.8%	22,730	-6.5%	2.63%	+7.2%
UPS	Sell	UNITED PARCEL SERVICE INCcl b	$11,316,000	-16.8%	70,051	-6.0%	2.58%	+2.3%
WMT	Sell	WALMART INC	$11,193,000	+1.8%	86,303	-4.6%	2.55%	+25.0%
V	Sell	VISA INC	$11,169,000	-16.9%	62,874	-7.9%	2.55%	+2.1%
MAR	Sell	MARRIOTT INTL INC NEWcl a	$11,094,000	-2.0%	79,164	-4.9%	2.53%	+20.4%
MDLZ	Sell	MONDELEZ INTL INCcl a	$10,813,000	-15.8%	197,211	-4.6%	2.47%	+3.5%
BLK	Sell	BLACKROCK INC	$10,815,000	-13.4%	19,653	-4.1%	2.47%	+6.4%
XLV	Buy	SELECT SECTOR SPDR TRsbi healthcare	$10,188,000	-1.8%	84,123	+4.0%	2.32%	+20.7%
IYW	Sell	ISHARES TRu.s. tech etf	$9,038,000	-20.8%	123,179	-13.6%	2.06%	-2.6%
XLY	Sell	SELECT SECTOR SPDR TRsbi cons discr	$8,779,000	+2.0%	61,632	-1.6%	2.00%	+25.3%
IWF	Sell	ISHARES TRrus 1000 grw etf	$8,212,000	-4.4%	39,029	-0.6%	1.87%	+17.4%
DIS	Sell	DISNEY WALT CO	$8,126,000	-5.7%	86,145	-5.6%	1.85%	+15.9%
NKE	Sell	NIKE INCcl b	$7,855,000	-20.6%	94,496	-2.4%	1.79%	-2.5%
NVDA	Sell	NVIDIA CORPORATION	$7,746,000	-21.9%	63,809	-2.4%	1.77%	-4.0%
CRM	Sell	SALESFORCE INC	$7,095,000	-13.6%	49,326	-0.9%	1.62%	+6.2%
VYM	Sell	VANGUARD WHITEHALL FDShigh div yld	$5,402,000	-7.9%	56,938	-1.3%	1.23%	+13.1%
IYH	Sell	ISHARES TRus hlthcare etf	$5,281,000	-11.3%	20,873	-5.7%	1.20%	+9.0%
XLC	Buy	SELECT SECTOR SPDR TR	$4,425,000	+10.4%	92,399	+25.1%	1.01%	+35.8%
XLP	Sell	SELECT SECTOR SPDR TRsbi cons stpls	$4,183,000	-9.7%	62,682	-2.3%	0.95%	+10.9%
XLI	Sell	SELECT SECTOR SPDR TRsbi int-inds	$3,873,000	-20.2%	46,750	-15.9%	0.88%	-2.0%
XLE	Sell	SELECT SECTOR SPDR TRenergy	$3,471,000	-5.8%	48,197	-6.4%	0.79%	+15.8%
VOE	Sell	VANGUARD INDEX FDSmcap vl idxvip	$2,307,000	-6.4%	18,950	-0.4%	0.53%	+14.8%
IYJ	Sell	ISHARES TRus industrials	$2,192,000	-27.1%	26,164	-23.3%	0.50%	-10.4%
IYC	Sell	ISHARES TRus consum discre	$2,152,000	-20.6%	36,979	-22.6%	0.49%	-2.6%
VEA	Sell	VANGUARD TAX-MANAGED FDSvan ftse dev mkt	$1,877,000	-11.3%	51,620	-0.4%	0.43%	+8.9%
IWD	Sell	ISHARES TRrus 1000 val etf	$1,810,000	-15.3%	13,309	-9.7%	0.41%	+4.0%
KOMP	Sell	SPDR SER TRs&p kensho new	$1,723,000	-4.9%	44,638	-0.1%	0.39%	+17.0%
XLB	Sell	SELECT SECTOR SPDR TRsbi materials	$1,569,000	-13.9%	23,069	-6.9%	0.36%	+5.6%
SLYG	Sell	SPDR SER TRs&p 600 smcp grw	$1,529,000	-3.8%	22,449	-0.4%	0.35%	+18.3%
IJS	Sell	ISHARES TRsp smcp600vl etf	$1,503,000	-7.7%	18,224	-0.4%	0.34%	+13.2%
SHW	Buy	SHERWIN WILLIAMS CO	$1,274,000	+49.5%	6,223	+63.5%	0.29%	+84.2%
SPSB	Sell	SPDR SER TRportfolio short	$1,273,000	-19.1%	43,555	-17.8%	0.29%	-0.7%
XLU	Sell	SELECT SECTOR SPDR TRsbi int-utils	$1,003,000	-13.4%	15,308	-7.3%	0.23%	+6.5%
VWO	Sell	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$991,000	-12.5%	27,148	-0.2%	0.23%	+7.6%
VO	Sell	VANGUARD INDEX FDSmid cap etf	$958,000	-5.5%	5,097	-1.0%	0.22%	+16.5%
AMZN	Sell	AMAZON COM INC	$927,000	-16.1%	8,200	-21.2%	0.21%	+2.9%
VB	Sell	VANGUARD INDEX FDSsmall cp etf	$884,000	-4.3%	5,170	-1.4%	0.20%	+17.4%
IYK	Sell	ISHARES TRus consm staples	$600,000	-31.5%	3,337	-25.8%	0.14%	-16.0%
IWR	Sell	ISHARES TRrus mid cap etf	$434,000	-4.2%	6,985	-0.4%	0.10%	+17.9%
SGMS	New	LIGHT & WONDER INC	$420,000	–	9,787	–	0.10%	–
CVX	Sell	CHEVRON CORP NEW	$382,000	-20.6%	2,657	-20.0%	0.09%	-2.2%
IWM	Sell	ISHARES TRrussell 2000 etf	$375,000	-3.4%	2,274	-0.8%	0.09%	+19.4%
LLY	Sell	LILLY ELI & CO	$354,000	-13.4%	1,094	-13.2%	0.08%	+6.6%
CCK	Buy	CROWN HLDGS INC	$345,000	-4.2%	4,262	+9.1%	0.08%	+17.9%
GOOG	Buy	ALPHABET INCcap stk cl c	$233,000	-55.1%	2,424	+922.8%	0.05%	-44.8%
NEE	New	NEXTERA ENERGY INC	$211,000	–	2,690	–	0.05%	–
EEM	Sell	ISHARES TRmsci emg mkt etf	$208,000	-14.4%	5,975	-1.4%	0.05%	+4.4%
LRCX	Sell	LAM RESEARCH CORP	$200,000	-70.9%	546	-66.2%	0.05%	-64.1%
DVY	New	ISHARES TRselect divid etf	$202,000	–	1,886	–	0.05%	–
VPV	Exit	INVESCO PA VALUE MUN INC TR	$0	–	-11,480	–	-0.02%	–
MPA	Exit	BLACKROCK MUNIYIELD PA QLTY	$0	–	-13,366	–	-0.03%	–
D	Exit	DOMINION ENERGY INC	$0	–	-2,530	–	-0.04%	–
VUG	Exit	VANGUARD INDEX FDSgrowth etf	$0	–	-936	–	-0.04%	–
PPG	Exit	PPG INDS INC	$0	–	-2,000	–	-0.04%	–
VZ	Exit	VERIZON COMMUNICATIONS INC	$0	–	-5,679	–	-0.05%	–
CMCSA	Exit	COMCAST CORP NEWcl a	$0	–	-8,127	–	-0.06%	–
SPY	Exit	SPDR S&P 500 ETF TRtr unit	$0	–	-870	–	-0.06%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-1,339	–	-0.07%	–
FB	Exit	META PLATFORMS INCcl a	$0	–	-2,569	–	-0.08%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-4,893	–	-0.08%	–
IGSB	Exit	ISHARES TR	$0	–	-9,565	–	-0.09%	–
FITB	Exit	FIFTH THIRD BANCORP	$0	–	-289,595	–	-1.81%	–
MDT	Exit	MEDTRONIC PLC	$0	–	-109,876	–	-1.83%	–
FLOT	Exit	ISHARES TRfltg rate nt etf	$0	–	-398,843	–	-3.70%	–

Q2 2022

			Value		Shares		↓ Weighting
AAPL	New	APPLE INC	$42,405,000	–	310,162	–	7.88%	–
MSFT	New	MICROSOFT CORP	$34,937,000	–	136,031	–	6.49%	–
UNH	New	UNITEDHEALTH GROUP INC	$20,193,000	–	39,313	–	3.75%	–
FLOT	New	ISHARES TRfltg rate nt etf	$19,910,000	–	398,843	–	3.70%	–
XLK	New	SELECT SECTOR SPDR TRtechnology	$19,533,000	–	153,657	–	3.63%	–
RTX	New	RAYTHEON TECHNOLOGIES CORP	$19,184,000	–	199,610	–	3.56%	–
MRK	New	MERCK & CO INC	$19,088,000	–	209,366	–	3.54%	–
GOOGL	New	ALPHABET INCcap stk cl a	$18,527,000	–	8,502	–	3.44%	–
PFE	New	PFIZER INC	$17,378,000	–	331,460	–	3.23%	–
NEAR	New	ISHARES U S ETF TRblackrock st mat	$16,875,000	–	342,563	–	3.13%	–
AVGO	New	BROADCOM INC	$16,837,000	–	34,657	–	3.13%	–
HD	New	HOME DEPOT INC	$15,372,000	–	56,049	–	2.86%	–
IYF	New	ISHARES TRu.s. finls etf	$15,026,000	–	214,714	–	2.79%	–
JPM	New	JPMORGAN CHASE & CO	$14,088,000	–	125,104	–	2.62%	–
UPS	New	UNITED PARCEL SERVICE INCcl b	$13,597,000	–	74,486	–	2.52%	–
V	New	VISA INC	$13,439,000	–	68,256	–	2.50%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$13,214,000	–	24,322	–	2.45%	–
MDLZ	New	MONDELEZ INTL INCcl a	$12,837,000	–	206,741	–	2.38%	–
BLK	New	BLACKROCK INC	$12,483,000	–	20,496	–	2.32%	–
IYW	New	ISHARES TRu.s. tech etf	$11,405,000	–	142,648	–	2.12%	–
MAR	New	MARRIOTT INTL INC NEWcl a	$11,320,000	–	83,226	–	2.10%	–
WMT	New	WALMART INC	$11,000,000	–	90,477	–	2.04%	–
XLV	New	SELECT SECTOR SPDR TRsbi healthcare	$10,372,000	–	80,882	–	1.93%	–
NVDA	New	NVIDIA CORPORATION	$9,912,000	–	65,384	–	1.84%	–
NKE	New	NIKE INCcl b	$9,894,000	–	96,813	–	1.84%	–
MDT	New	MEDTRONIC PLC	$9,861,000	–	109,876	–	1.83%	–
FITB	New	FIFTH THIRD BANCORP	$9,730,000	–	289,595	–	1.81%	–
DIS	New	DISNEY WALT CO	$8,617,000	–	91,285	–	1.60%	–
XLY	New	SELECT SECTOR SPDR TRsbi cons discr	$8,611,000	–	62,636	–	1.60%	–
IWF	New	ISHARES TRrus 1000 grw etf	$8,591,000	–	39,282	–	1.60%	–
CRM	New	SALESFORCE INC	$8,211,000	–	49,751	–	1.52%	–
IYH	New	ISHARES TRus hlthcare etf	$5,953,000	–	22,138	–	1.11%	–
VYM	New	VANGUARD WHITEHALL FDShigh div yld	$5,866,000	–	57,681	–	1.09%	–
XLI	New	SELECT SECTOR SPDR TRsbi int-inds	$4,854,000	–	55,571	–	0.90%	–
XLP	New	SELECT SECTOR SPDR TRsbi cons stpls	$4,632,000	–	64,179	–	0.86%	–
XLC	New	SELECT SECTOR SPDR TR	$4,008,000	–	73,846	–	0.74%	–
XLE	New	SELECT SECTOR SPDR TRenergy	$3,683,000	–	51,507	–	0.68%	–
IYJ	New	ISHARES TRus industrials	$3,005,000	–	34,099	–	0.56%	–
IYC	New	ISHARES TRus consum discre	$2,711,000	–	47,771	–	0.50%	–
VOE	New	VANGUARD INDEX FDSmcap vl idxvip	$2,465,000	–	19,034	–	0.46%	–
IWD	New	ISHARES TRrus 1000 val etf	$2,137,000	–	14,738	–	0.40%	–
VEA	New	VANGUARD TAX-MANAGED INTL FDvan ftse dev mkt	$2,115,000	–	51,840	–	0.39%	–
XLB	New	SELECT SECTOR SPDR TRsbi materials	$1,823,000	–	24,771	–	0.34%	–
KOMP	New	SPDR SER TRs&p kensho new	$1,811,000	–	44,684	–	0.34%	–
IJS	New	ISHARES TRsp smcp600vl etf	$1,629,000	–	18,294	–	0.30%	–
SLYG	New	SPDR SER TRs&p 600 smcp grw	$1,589,000	–	22,545	–	0.30%	–
SPSB	New	SPDR SER TRportfolio short	$1,574,000	–	52,958	–	0.29%	–
XLU	New	SELECT SECTOR SPDR TRsbi int-utils	$1,158,000	–	16,508	–	0.22%	–
VWO	New	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$1,132,000	–	27,190	–	0.21%	–
AMZN	New	AMAZON COM INC	$1,105,000	–	10,400	–	0.20%	–
VO	New	VANGUARD INDEX FDSmid cap etf	$1,014,000	–	5,150	–	0.19%	–
VB	New	VANGUARD INDEX FDSsmall cp etf	$924,000	–	5,245	–	0.17%	–
IYK	New	ISHARES TRus consm staples	$876,000	–	4,495	–	0.16%	–
SHW	New	SHERWIN WILLIAMS CO	$852,000	–	3,805	–	0.16%	–
AGG	New	ISHARES TRcore us aggbd et	$820,000	–	8,060	–	0.15%	–
LRCX	New	LAM RESEARCH CORP	$688,000	–	1,615	–	0.13%	–
GOOG	New	ALPHABET INCcap stk cl c	$519,000	–	237	–	0.10%	–
IGSB	New	ISHARES TR	$484,000	–	9,565	–	0.09%	–
CVX	New	CHEVRON CORP NEW	$481,000	–	3,323	–	0.09%	–
IWR	New	ISHARES TRrus mid cap etf	$453,000	–	7,010	–	0.08%	–
XOM	New	EXXON MOBIL CORP	$419,000	–	4,893	–	0.08%	–
FB	New	META PLATFORMS INCcl a	$414,000	–	2,569	–	0.08%	–
LLY	New	LILLY ELI & CO	$409,000	–	1,261	–	0.08%	–
SCHX	New	SCHWAB STRATEGIC TRus lrg cap etf	$390,000	–	8,742	–	0.07%	–
IWM	New	ISHARES TRrussell 2000 etf	$388,000	–	2,293	–	0.07%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$366,000	–	1,339	–	0.07%	–
CCK	New	CROWN HLDGS INC	$360,000	–	3,908	–	0.07%	–
SPY	New	SPDR S&P 500 ETF TRtr unit	$328,000	–	870	–	0.06%	–
CMCSA	New	COMCAST CORP NEWcl a	$319,000	–	8,127	–	0.06%	–
VZ	New	VERIZON COMMUNICATIONS INC	$288,000	–	5,679	–	0.05%	–
WTRG	New	ESSENTIAL UTILS INC	$270,000	–	5,879	–	0.05%	–
SCHM	New	SCHWAB STRATEGIC TRus mid-cap etf	$270,000	–	4,305	–	0.05%	–
EEM	New	ISHARES TRmsci emg mkt etf	$243,000	–	6,060	–	0.04%	–
PPG	New	PPG INDS INC	$229,000	–	2,000	–	0.04%	–
MMP	New	MAGELLAN MIDSTREAM PRTNRS LP	$225,000	–	4,710	–	0.04%	–
VUG	New	VANGUARD INDEX FDSgrowth etf	$209,000	–	936	–	0.04%	–
D	New	DOMINION ENERGY INC	$202,000	–	2,530	–	0.04%	–
MPA	New	BLACKROCK MUNIYIELD PA QLTY	$169,000	–	13,366	–	0.03%	–
VPV	New	INVESCO PA VALUE MUN INC TR	$120,000	–	11,480	–	0.02%	–

Q4 2021

			Value		Shares		↓ Weighting
XOM	Exit	EXXON MOBIL CORP	$0	–	-4,307	–	-0.04%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-2,567	–	-0.04%	–
VUG	Exit	VANGUARD INDEX FDSgrowth etf	$0	–	-936	–	-0.04%	–
EEM	Exit	ISHARES TRmsci emg mkt etf	$0	–	-5,705	–	-0.05%	–
SCHM	Exit	SCHWAB STRATEGIC TRus mid-cap etf	$0	–	-4,305	–	-0.05%	–
C	Exit	CITIGROUP INC	$0	–	-4,765	–	-0.06%	–
CCK	Exit	CROWN HLDGS INC	$0	–	-3,908	–	-0.06%	–
SCHX	Exit	SCHWAB STRATEGIC TRus lrg cap etf	$0	–	-4,371	–	-0.08%	–
IWM	Exit	ISHARES TRrussell 2000 etf	$0	–	-2,207	–	-0.08%	–
IWR	Exit	ISHARES TRrus mid cap etf	$0	–	-6,824	–	-0.09%	–
SHW	Exit	SHERWIN WILLIAMS CO	$0	–	-1,908	–	-0.09%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-202	–	-0.09%	–
AGG	Exit	ISHARES TRcore us aggbd et	$0	–	-6,405	–	-0.12%	–
IYK	Exit	ISHARES TRus consm staples	$0	–	-4,144	–	-0.12%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-2,271	–	-0.13%	–
LRCX	Exit	LAM RESEARCH CORP	$0	–	-1,395	–	-0.13%	–
SPY	Exit	SPDR S&P 500 ETF TRtr unit	$0	–	-1,981	–	-0.14%	–
SUB	Exit	ISHARES TRshrt nat mun etf	$0	–	-7,980	–	-0.14%	–
XLU	Exit	SELECT SECTOR SPDR TRsbi int-utils	$0	–	-15,056	–	-0.16%	–
AMZN	Exit	AMAZON COM INC	$0	–	-360	–	-0.20%	–
VB	Exit	VANGUARD INDEX FDSsmall cp etf	$0	–	-5,415	–	-0.20%	–
VO	Exit	VANGUARD INDEX FDSmid cap etf	$0	–	-5,300	–	-0.21%	–
SPSB	Exit	SPDR SER TRportfolio short	$0	–	-47,375	–	-0.24%	–
XLB	Exit	SELECT SECTOR SPDR TRsbi materials	$0	–	-22,712	–	-0.30%	–
IWD	Exit	ISHARES TRrus 1000 val etf	$0	–	-13,787	–	-0.36%	–
KOMP	Exit	SPDR SER TRs&p kensho new	$0	–	-36,361	–	-0.36%	–
VWO	Exit	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$0	–	-46,173	–	-0.38%	–
VOE	Exit	VANGUARD INDEX FDSmcap vl idxvip	$0	–	-16,650	–	-0.38%	–
SLYG	Exit	SPDR SER TRs&p 600 smcp grw	$0	–	-27,493	–	-0.40%	–
XLE	Exit	SELECT SECTOR SPDR TRenergy	$0	–	-54,776	–	-0.47%	–
VEA	Exit	VANGUARD TAX-MANAGED INTL FDftse dev mkt etf	$0	–	-59,282	–	-0.49%	–
XLP	Exit	SELECT SECTOR SPDR TRsbi cons stpls	$0	–	-47,350	–	-0.54%	–
IYC	Exit	ISHARES TRus consum discre	$0	–	-46,874	–	-0.60%	–
IYJ	Exit	ISHARES TRus industrials	$0	–	-36,725	–	-0.65%	–
VYM	Exit	VANGUARD WHITEHALL FDShigh div yld	$0	–	-43,676	–	-0.74%	–
XLI	Exit	SELECT SECTOR SPDR TRsbi int-inds	$0	–	-53,565	–	-0.86%	–
XLC	Exit	SELECT SECTOR SPDR TR	$0	–	-67,068	–	-0.88%	–
IYH	Exit	ISHARES TRus hlthcare etf	$0	–	-23,731	–	-1.08%	–
XLV	Exit	SELECT SECTOR SPDR TRsbi healthcare	$0	–	-70,304	–	-1.48%	–
XLY	Exit	SELECT SECTOR SPDR TRsbi cons discr	$0	–	-56,033	–	-1.66%	–
INTC	Exit	INTEL CORP	$0	–	-192,270	–	-1.69%	–
IWF	Exit	ISHARES TRrus 1000 grw etf	$0	–	-37,765	–	-1.71%	–
VZ	Exit	VERIZON COMMUNICATIONS INC	$0	–	-211,767	–	-1.88%	–
MDLZ	Exit	MONDELEZ INTL INCcl a	$0	–	-207,566	–	-1.99%	–
MAR	Exit	MARRIOTT INTL INC NEWcl a	$0	–	-84,596	–	-2.06%	–
WMT	Exit	WALMART INC	$0	–	-91,313	–	-2.10%	–
CRM	Exit	SALESFORCE COM INC	$0	–	-49,525	–	-2.21%	–
IYF	Exit	ISHARES TRu.s. finls etf	$0	–	-166,503	–	-2.26%	–
MDT	Exit	MEDTRONIC PLC	$0	–	-110,345	–	-2.28%	–
UPS	Exit	UNITED PARCEL SERVICE INCcl b	$0	–	-76,404	–	-2.29%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC	$0	–	-24,555	–	-2.31%	–
NKE	Exit	NIKE INCcl b	$0	–	-97,533	–	-2.33%	–
PFE	Exit	PFIZER INC	$0	–	-336,002	–	-2.38%	–
DIS	Exit	DISNEY WALT CO	$0	–	-91,709	–	-2.56%	–
MRK	Exit	MERCK & CO INC	$0	–	-214,250	–	-2.65%	–
UNH	Exit	UNITEDHEALTH GROUP INC	$0	–	-41,475	–	-2.67%	–
IYW	Exit	ISHARES TRu.s. tech etf	$0	–	-160,568	–	-2.68%	–
AVGO	Exit	BROADCOM INC	$0	–	-35,556	–	-2.84%	–
RTX	Exit	RAYTHEON TECHNOLOGIES CORP	$0	–	-201,962	–	-2.86%	–
BLK	Exit	BLACKROCK INC	$0	–	-21,084	–	-2.91%	–
HD	Exit	HOME DEPOT INC	$0	–	-58,172	–	-3.15%	–
FLOT	Exit	ISHARES TRfltg rate nt etf	$0	–	-392,376	–	-3.29%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-127,282	–	-3.43%	–
IGSB	Exit	ISHARES TR	$0	–	-390,373	–	-3.52%	–
XLK	Exit	SELECT SECTOR SPDR TRtechnology	$0	–	-144,480	–	-3.56%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-8,644	–	-3.81%	–
V	Exit	VISA INC	$0	–	-110,476	–	-4.06%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-142,676	–	-6.63%	–
AAPL	Exit	APPLE INC	$0	–	-330,390	–	-7.70%	–

Q3 2021

			Value		Shares		↓ Weighting
AAPL	Sell	APPLE INC	$46,750,000	+1.9%	330,390	-1.4%	7.70%	+1.4%
MSFT	Sell	MICROSOFT CORP	$40,223,000	+2.9%	142,676	-1.1%	6.63%	+2.5%
V	Sell	VISA INC	$24,608,000	-5.6%	110,476	-0.9%	4.06%	-6.0%
GOOGL	Sell	ALPHABET INCcap stk cl a	$23,110,000	+8.2%	8,644	-1.1%	3.81%	+7.8%
XLK	Sell	SELECT SECTOR SPDR TRtechnology	$21,574,000	-9.8%	144,480	-10.8%	3.56%	-10.2%
IGSB	Buy	ISHARES TR	$21,330,000	+6.5%	390,373	+6.8%	3.52%	+6.0%
JPM	Sell	JPMORGAN CHASE & CO	$20,835,000	+4.1%	127,282	-1.1%	3.43%	+3.7%
FLOT	Buy	ISHARES TRfltg rate nt etf	$19,948,000	+6.5%	392,376	+6.5%	3.29%	+6.1%
HD	Sell	HOME DEPOT INC	$19,096,000	+1.9%	58,172	-1.0%	3.15%	+1.5%
BLK	Sell	BLACKROCK INC	$17,682,000	-5.4%	21,084	-1.3%	2.91%	-5.8%
RTX	Sell	RAYTHEON TECHNOLOGIES CORP	$17,361,000	+0.1%	201,962	-0.7%	2.86%	-0.3%
AVGO	Sell	BROADCOM INC	$17,242,000	+0.8%	35,556	-0.9%	2.84%	+0.4%
IYW	Sell	ISHARES TRu.s. tech etf	$16,259,000	-6.2%	160,568	-7.9%	2.68%	-6.6%
UNH	Sell	UNITEDHEALTH GROUP INC	$16,206,000	-3.1%	41,475	-0.7%	2.67%	-3.5%
MRK	Sell	MERCK & CO INC	$16,092,000	-3.9%	214,250	-0.5%	2.65%	-4.3%
DIS	Sell	DISNEY WALT CO	$15,514,000	-4.5%	91,709	-0.7%	2.56%	-4.8%
PFE	Sell	PFIZER INC	$14,451,000	+9.2%	336,002	-0.6%	2.38%	+8.8%
NKE	Sell	NIKE INCcl b	$14,165,000	-6.4%	97,533	-0.4%	2.33%	-6.8%
TMO	Buy	THERMO FISHER SCIENTIFIC INC	$14,029,000	+6486.4%	24,555	+5705.0%	2.31%	+6505.7%
UPS	Sell	UNITED PARCEL SERVICE INCcl b	$13,913,000	-13.4%	76,404	-1.1%	2.29%	-13.7%
MDT	Sell	MEDTRONIC PLC	$13,832,000	+0.2%	110,345	-0.8%	2.28%	-0.2%
IYF	Sell	ISHARES TRu.s. finls etf	$13,745,000	+1.6%	166,503	-0.2%	2.26%	+1.2%
CRM	Buy	SALESFORCE COM INC	$13,432,000	+13.0%	49,525	+1.8%	2.21%	+12.6%
WMT	Sell	WALMART INC	$12,727,000	-1.4%	91,313	-0.2%	2.10%	-1.8%
MAR	Sell	MARRIOTT INTL INC NEWcl a	$12,528,000	+7.9%	84,596	-0.6%	2.06%	+7.4%
MDLZ	Sell	MONDELEZ INTL INCcl a	$12,076,000	-7.2%	207,566	-0.4%	1.99%	-7.6%
VZ	Buy	VERIZON COMMUNICATIONS INC	$11,438,000	-3.1%	211,767	+0.5%	1.88%	-3.5%
IWF	Buy	ISHARES TRrus 1000 grw etf	$10,349,000	+6.8%	37,765	+5.8%	1.71%	+6.4%
INTC	Sell	INTEL CORP	$10,244,000	-5.2%	192,270	-0.2%	1.69%	-5.6%
XLY	Buy	SELECT SECTOR SPDR TRsbi cons discr	$10,055,000	+0.6%	56,033	+0.1%	1.66%	+0.2%
XLV	Sell	SELECT SECTOR SPDR TRsbi healthcare	$8,950,000	+0.7%	70,304	-0.4%	1.48%	+0.3%
IYH	Sell	ISHARES TRus hlthcare etf	$6,548,000	+0.6%	23,731	-0.5%	1.08%	+0.2%
XLC	Buy	SELECT SECTOR SPDR TR	$5,373,000	+284.3%	67,068	+288.6%	0.88%	+283.1%
XLI	Buy	SELECT SECTOR SPDR TRsbi int-inds	$5,241,000	-4.3%	53,565	+0.2%	0.86%	-4.6%
VYM	Buy	VANGUARD WHITEHALL FDShigh div yld	$4,514,000	+5.3%	43,676	+6.8%	0.74%	+4.9%
IYJ	Sell	ISHARES TRus industrials	$3,935,000	-4.2%	36,725	-0.7%	0.65%	-4.7%
IYC	Sell	ISHARES TRus consum discre	$3,624,000	-0.7%	46,874	-0.3%	0.60%	-1.2%
XLP	Sell	SELECT SECTOR SPDR TRsbi cons stpls	$3,260,000	-23.3%	47,350	-22.1%	0.54%	-23.7%
VEA	Sell	VANGUARD TAX-MANAGED INTL FDftse dev mkt etf	$2,993,000	-12.0%	59,282	-10.2%	0.49%	-12.4%
XLE	Sell	SELECT SECTOR SPDR TRenergy	$2,853,000	-3.6%	54,776	-0.3%	0.47%	-4.1%
SLYG	Buy	SPDR SER TRs&p 600 smcp grw	$2,395,000	-0.2%	27,493	+1.7%	0.40%	-0.5%
VOE	New	VANGUARD INDEX FDSmcap vl idxvip	$2,324,000	–	16,650	–	0.38%	–
VWO	Sell	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$2,309,000	-28.1%	46,173	-21.9%	0.38%	-28.2%
KOMP	Buy	SPDR SER TRs&p kensho new	$2,214,000	+4.8%	36,361	+15.1%	0.36%	+4.3%
IWD	Sell	ISHARES TRrus 1000 val etf	$2,158,000	-2.8%	13,787	-1.5%	0.36%	-3.0%
XLB	Sell	SELECT SECTOR SPDR TRsbi materials	$1,797,000	-4.3%	22,712	-0.4%	0.30%	-4.8%
SPSB	Buy	SPDR SER TRportfolio short	$1,480,000	+10.3%	47,375	+10.5%	0.24%	+9.9%
VO	Sell	VANGUARD INDEX FDSmid cap etf	$1,255,000	-2.0%	5,300	-1.8%	0.21%	-2.4%
VB	Sell	VANGUARD INDEX FDSsmall cp etf	$1,184,000	-4.6%	5,415	-1.7%	0.20%	-4.9%
XLU	Sell	SELECT SECTOR SPDR TRsbi int-utils	$962,000	+0.6%	15,056	-0.5%	0.16%	+0.6%
SUB	Sell	ISHARES TRshrt nat mun etf	$858,000	-15.0%	7,980	-14.8%	0.14%	-15.6%
LRCX	Sell	LAM RESEARCH CORP	$794,000	-13.1%	1,395	-0.6%	0.13%	-13.2%
IYK	Sell	ISHARES TRus consm staples	$744,000	-17.9%	4,144	-15.9%	0.12%	-18.0%
AGG	Sell	ISHARES TRcore us aggbd et	$735,000	-1.2%	6,405	-0.8%	0.12%	-1.6%
IWR	Buy	ISHARES TRrus mid cap etf	$534,000	+0.8%	6,824	+2.0%	0.09%	0.0%
IWM	Buy	ISHARES TRrussell 2000 etf	$483,000	-0.2%	2,207	+4.5%	0.08%	0.0%
C	Sell	CITIGROUP INC	$334,000	-28.9%	4,765	-28.3%	0.06%	-29.5%
EEM	Sell	ISHARES TRmsci emg mkt etf	$287,000	-10.3%	5,705	-1.8%	0.05%	-11.3%
XOM	Buy	EXXON MOBIL CORP	$253,000	-6.3%	4,307	+0.6%	0.04%	-6.7%
CGBD	Exit	TCG BDC INC	$0	–	-21,000	–	-0.05%	–
ISD	Exit	PGIM HIGH YIELD BOND FUND IN	$0	–	-25,000	–	-0.07%	–
IJR	Exit	ISHARES TRcore s&p scp etf	$0	–	-21,225	–	-0.40%	–
LMT	Exit	LOCKHEED MARTIN CORP	$0	–	-28,170	–	-1.76%	–

Q2 2021

			Value		Shares		↓ Weighting
AAPL	New	APPLE INC	$45,892,000	–	335,073	–	7.59%	–
MSFT	New	MICROSOFT CORP	$39,094,000	–	144,310	–	6.47%	–
V	New	VISA INC	$26,066,000	–	111,478	–	4.31%	–
XLK	New	SELECT SECTOR SPDR TRtechnology	$23,922,000	–	162,007	–	3.96%	–
GOOGL	New	ALPHABET INCcap stk cl a	$21,349,000	–	8,743	–	3.53%	–
IGSB	New	ISHARES TR	$20,031,000	–	365,462	–	3.32%	–
JPM	New	JPMORGAN CHASE & CO	$20,019,000	–	128,706	–	3.31%	–
HD	New	HOME DEPOT INC	$18,746,000	–	58,786	–	3.10%	–
FLOT	New	ISHARES TRfltg rate nt etf	$18,726,000	–	368,481	–	3.10%	–
BLK	New	BLACKROCK INC	$18,690,000	–	21,361	–	3.09%	–
RTX	New	RAYTHEON TECHNOLOGIES CORP	$17,346,000	–	203,323	–	2.87%	–
IYW	New	ISHARES TRu.s. tech etf	$17,333,000	–	174,375	–	2.87%	–
AVGO	New	BROADCOM INC	$17,105,000	–	35,872	–	2.83%	–
MRK	New	MERCK & CO INC	$16,748,000	–	215,350	–	2.77%	–
UNH	New	UNITEDHEALTH GROUP INC	$16,722,000	–	41,758	–	2.77%	–
DIS	New	DISNEY WALT CO	$16,240,000	–	92,394	–	2.69%	–
UPS	New	UNITED PARCEL SERVICE INCcl b	$16,065,000	–	77,245	–	2.66%	–
NKE	New	NIKE INCcl b	$15,135,000	–	97,969	–	2.50%	–
MDT	New	MEDTRONIC PLC	$13,803,000	–	111,196	–	2.28%	–
IYF	New	ISHARES TRu.s. finls etf	$13,524,000	–	166,864	–	2.24%	–
PFE	New	PFIZER INC	$13,237,000	–	338,012	–	2.19%	–
MDLZ	New	MONDELEZ INTL INCcl a	$13,011,000	–	208,370	–	2.15%	–
WMT	New	WALMART INC	$12,909,000	–	91,537	–	2.14%	–
CRM	New	SALESFORCE COM INC	$11,889,000	–	48,670	–	1.97%	–
VZ	New	VERIZON COMMUNICATIONS INC	$11,807,000	–	210,733	–	1.95%	–
MAR	New	MARRIOTT INTL INC NEWcl a	$11,616,000	–	85,086	–	1.92%	–
INTC	New	INTEL CORP	$10,811,000	–	192,581	–	1.79%	–
LMT	New	LOCKHEED MARTIN CORP	$10,658,000	–	28,170	–	1.76%	–
XLY	New	SELECT SECTOR SPDR TRsbi cons discr	$9,993,000	–	55,969	–	1.65%	–
IWF	New	ISHARES TRrus 1000 grw etf	$9,686,000	–	35,678	–	1.60%	–
XLV	New	SELECT SECTOR SPDR TRsbi healthcare	$8,888,000	–	70,567	–	1.47%	–
IYH	New	ISHARES TRus hlthcare etf	$6,508,000	–	23,851	–	1.08%	–
XLI	New	SELECT SECTOR SPDR TRsbi int-inds	$5,475,000	–	53,468	–	0.91%	–
VYM	New	VANGUARD WHITEHALL FDShigh div yld	$4,285,000	–	40,900	–	0.71%	–
XLP	New	SELECT SECTOR SPDR TRsbi cons stpls	$4,252,000	–	60,766	–	0.70%	–
IYJ	New	ISHARES TRus industrials	$4,108,000	–	36,969	–	0.68%	–
IYC	New	ISHARES TRu.s. cnsm sv etf	$3,651,000	–	47,036	–	0.60%	–
VEA	New	VANGUARD TAX-MANAGED INTL FDftse dev mkt etf	$3,402,000	–	66,028	–	0.56%	–
VWO	New	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$3,210,000	–	59,106	–	0.53%	–
XLE	New	SELECT SECTOR SPDR TRenergy	$2,961,000	–	54,968	–	0.49%	–
IJR	New	ISHARES TRcore s&p scp etf	$2,398,000	–	21,225	–	0.40%	–
SLYG	New	SPDR SER TRs&p 600 smcp grw	$2,400,000	–	27,039	–	0.40%	–
IWD	New	ISHARES TRrus 1000 val etf	$2,220,000	–	13,997	–	0.37%	–
KOMP	New	SPDR SER TRs&p kensho new	$2,113,000	–	31,602	–	0.35%	–
XLB	New	SELECT SECTOR SPDR TRsbi materials	$1,877,000	–	22,801	–	0.31%	–
XLC	New	SELECT SECTOR SPDR TR	$1,398,000	–	17,261	–	0.23%	–
SPSB	New	SPDR SER TRportfolio short	$1,342,000	–	42,870	–	0.22%	–
VO	New	VANGUARD INDEX FDSmid cap etf	$1,281,000	–	5,395	–	0.21%	–
AMZN	New	AMAZON COM INC	$1,238,000	–	360	–	0.20%	–
VB	New	VANGUARD INDEX FDSsmall cp etf	$1,241,000	–	5,510	–	0.20%	–
SUB	New	ISHARES TRshrt nat mun etf	$1,010,000	–	9,370	–	0.17%	–
XLU	New	SELECT SECTOR SPDR TRsbi int-utils	$956,000	–	15,125	–	0.16%	–
LRCX	New	LAM RESEARCH CORP	$914,000	–	1,404	–	0.15%	–
IYK	New	ISHARES TRu.s. cnsm gd etf	$906,000	–	4,928	–	0.15%	–
SPY	New	SPDR S&P 500 ETF TRtr unit	$848,000	–	1,981	–	0.14%	–
FB	New	FACEBOOK INCcl a	$790,000	–	2,271	–	0.13%	–
AGG	New	ISHARES TRcore us aggbd et	$744,000	–	6,455	–	0.12%	–
IWR	New	ISHARES TRrus mid cap etf	$530,000	–	6,693	–	0.09%	–
SHW	New	SHERWIN WILLIAMS CO	$520,000	–	1,908	–	0.09%	–
GOOG	New	ALPHABET INCcap stk cl c	$506,000	–	202	–	0.08%	–
IWM	New	ISHARES TRrussell 2000 etf	$484,000	–	2,111	–	0.08%	–
C	New	CITIGROUP INC	$470,000	–	6,645	–	0.08%	–
SCHX	New	SCHWAB STRATEGIC TRus lrg cap etf	$454,000	–	4,371	–	0.08%	–
ISD	New	PGIM HIGH YIELD BOND FUND IN	$407,000	–	25,000	–	0.07%	–
CCK	New	CROWN HLDGS INC	$399,000	–	3,908	–	0.07%	–
SCHM	New	SCHWAB STRATEGIC TRus mid-cap etf	$337,000	–	4,305	–	0.06%	–
EEM	New	ISHARES TRmsci emg mkt etf	$320,000	–	5,810	–	0.05%	–
CGBD	New	TCG BDC INC	$277,000	–	21,000	–	0.05%	–
XOM	New	EXXON MOBIL CORP	$270,000	–	4,280	–	0.04%	–
CVX	New	CHEVRON CORP NEW	$269,000	–	2,567	–	0.04%	–
VUG	New	VANGUARD INDEX FDSgrowth etf	$268,000	–	936	–	0.04%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$213,000	–	423	–	0.04%	–

Q4 2020

			Value		Shares		↓ Weighting
BP	Exit	BP PLCsponsored adr	$0	–	-10,000	–	-0.04%	–
VZ	Exit	VERIZON COMMUNICATIONS INC	$0	–	-3,761	–	-0.05%	–
SCHM	Exit	SCHWAB STRATEGIC TRus mid-cap etf	$0	–	-4,305	–	-0.05%	–
IWM	Exit	ISHARES TRrussell 2000 etf	$0	–	-1,618	–	-0.05%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-193	–	-0.06%	–
CCK	Exit	CROWN HLDGS INC	$0	–	-4,520	–	-0.08%	–
SCHX	Exit	SCHWAB STRATEGIC TRus lrg cap etf	$0	–	-4,371	–	-0.08%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-2,181	–	-0.12%	–
C	Exit	CITIGROUP INC	$0	–	-13,674	–	-0.13%	–
LRCX	Exit	LAM RESEARCH CORP	$0	–	-1,895	–	-0.14%	–
SPY	Exit	SPDR S&P 500 ETF TRtr unit	$0	–	-1,981	–	-0.14%	–
AGG	Exit	ISHARES TRcore us aggbd et	$0	–	-6,540	–	-0.17%	–
SPSB	Exit	SPDR SER TRportfolio short	$0	–	-26,055	–	-0.18%	–
XLU	Exit	SELECT SECTOR SPDR TRsbi int-utils	$0	–	-14,315	–	-0.18%	–
AMZN	Exit	AMAZON COM INC	$0	–	-276	–	-0.19%	–
VO	Exit	VANGUARD INDEX FDSmid cap etf	$0	–	-5,340	–	-0.20%	–
VB	Exit	VANGUARD INDEX FDSsmall cp etf	$0	–	-6,230	–	-0.21%	–
SUB	Exit	ISHARES TRshrt nat mun etf	$0	–	-9,370	–	-0.22%	–
IYK	Exit	ISHARES TRu.s. cnsm gd etf	$0	–	-7,059	–	-0.23%	–
IJR	Exit	ISHARES TRcore s&p scp etf	$0	–	-19,183	–	-0.29%	–
IGSB	Exit	ISHARES TR	$0	–	-24,960	–	-0.30%	–
XLB	Exit	SELECT SECTOR SPDR TRsbi materials	$0	–	-21,643	–	-0.30%	–
SLYG	Exit	SPDR SER TRs&p 600 smcp grw	$0	–	-24,080	–	-0.31%	–
IWD	Exit	ISHARES TRrus 1000 val etf	$0	–	-12,306	–	-0.32%	–
VWO	Exit	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$0	–	-34,752	–	-0.33%	–
XLE	Exit	SELECT SECTOR SPDR TRenergy	$0	–	-52,927	–	-0.34%	–
IWR	Exit	ISHARES TRrus mid cap etf	$0	–	-32,327	–	-0.40%	–
IYC	Exit	ISHARES TRu.s. cnsm sv etf	$0	–	-10,697	–	-0.58%	–
VEA	Exit	VANGUARD TAX-MANAGED INTL FDftse dev mkt etf	$0	–	-66,433	–	-0.59%	–
VYM	Exit	VANGUARD WHITEHALL FDShigh div yld	$0	–	-36,159	–	-0.64%	–
IYJ	Exit	ISHARES TRus industrials	$0	–	-18,365	–	-0.67%	–
XLI	Exit	SELECT SECTOR SPDR TRsbi int-inds	$0	–	-48,966	–	-0.82%	–
XLP	Exit	SELECT SECTOR SPDR TRsbi cons stpls	$0	–	-67,838	–	-0.95%	–
IYH	Exit	ISHARES TRus hlthcare etf	$0	–	-23,746	–	-1.18%	–
XLV	Exit	SELECT SECTOR SPDR TRsbi healthcare	$0	–	-64,339	–	-1.48%	–
XLY	Exit	SELECT SECTOR SPDR TRsbi cons discr	$0	–	-48,779	–	-1.56%	–
BAC	Exit	BK OF AMERICA CORP	$0	–	-324,761	–	-1.70%	–
MAR	Exit	MARRIOTT INTL INC NEWcl a	$0	–	-86,297	–	-1.74%	–
IWF	Exit	ISHARES TRrus 1000 grw etf	$0	–	-38,042	–	-1.80%	–
INTC	Exit	INTEL CORP	$0	–	-186,550	–	-2.10%	–
IYF	Exit	ISHARES TRu.s. finls etf	$0	–	-88,215	–	-2.18%	–
LMT	Exit	LOCKHEED MARTIN CORP	$0	–	-27,549	–	-2.30%	–
MDT	Exit	MEDTRONIC PLC	$0	–	-112,362	–	-2.54%	–
RTX	Exit	RAYTHEON TECHNOLOGIES CORP	$0	–	-205,507	–	-2.58%	–
MDLZ	Exit	MONDELEZ INTL INCcl a	$0	–	-206,983	–	-2.59%	–
DIS	Exit	DISNEY WALT CO	$0	–	-96,440	–	-2.61%	–
CSCO	Exit	CISCO SYS INC	$0	–	-304,146	–	-2.61%	–
PFE	Exit	PFIZER INC	$0	–	-334,679	–	-2.68%	–
BLK	Exit	BLACKROCK INC	$0	–	-21,887	–	-2.69%	–
FLOT	Exit	ISHARES TRfltg rate nt etf	$0	–	-247,274	–	-2.73%	–
WMT	Exit	WALMART INC	$0	–	-91,071	–	-2.78%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-134,765	–	-2.83%	–
IYW	Exit	ISHARES TRu.s. tech etf	$0	–	-43,384	–	-2.85%	–
UPS	Exit	UNITED PARCEL SERVICE INCcl b	$0	–	-78,537	–	-2.85%	–
AVGO	Exit	BROADCOM INC	$0	–	-36,473	–	-2.90%	–
UNH	Exit	UNITEDHEALTH GROUP INC	$0	–	-42,666	–	-2.90%	–
HD	Exit	HOME DEPOT INC	$0	–	-60,072	–	-3.64%	–
XLK	Exit	SELECT SECTOR SPDR TRtechnology	$0	–	-147,188	–	-3.74%	–
MRK	Exit	MERCK & CO. INC	$0	–	-216,661	–	-3.92%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-12,760	–	-4.08%	–
V	Exit	VISA INC	$0	–	-115,051	–	-5.01%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-153,174	–	-7.02%	–
AAPL	Exit	APPLE INC	$0	–	-358,000	–	-9.04%	–

Q3 2020

			Value		Shares		↓ Weighting
AAPL	Buy	APPLE INC	$41,460,000	+26.5%	358,000	+298.5%	9.04%	+14.4%
MSFT	Buy	MICROSOFT CORP	$32,217,000	+3.9%	153,174	+0.5%	7.02%	-6.1%
V	Buy	VISA INC	$23,007,000	+4.7%	115,051	+1.2%	5.01%	-5.3%
GOOGL	Sell	ALPHABET INCcap stk cl a	$18,701,000	+3.0%	12,760	-0.3%	4.08%	-6.8%
MRK	Sell	MERCK & CO. INC	$17,972,000	+6.7%	216,661	-0.5%	3.92%	-3.5%
XLK	Buy	SELECT SECTOR SPDR TRtechnology	$17,177,000	+52.2%	147,188	+36.3%	3.74%	+37.7%
HD	Sell	HOME DEPOT INC	$16,683,000	+9.9%	60,072	-0.8%	3.64%	-0.6%
UNH	Buy	UNITEDHEALTH GROUP INC	$13,302,000	+6.0%	42,666	+0.3%	2.90%	-4.2%
AVGO	Sell	BROADCOM INC	$13,288,000	+14.7%	36,473	-0.6%	2.90%	+3.8%
UPS	Sell	UNITED PARCEL SERVICE INCcl b	$13,087,000	+48.9%	78,537	-0.7%	2.85%	+34.7%
IYW	Buy	ISHARES TRu.s. tech etf	$13,062,000	+18.9%	43,384	+6.6%	2.85%	+7.6%
JPM	Buy	JPMORGAN CHASE & CO	$12,974,000	+4.0%	134,765	+1.6%	2.83%	-5.9%
WMT	Sell	WALMART INC	$12,742,000	+16.0%	91,071	-0.6%	2.78%	+5.0%
FLOT	Sell	ISHARES TRfltg rate nt etf	$12,542,000	-4.2%	247,274	-4.4%	2.73%	-13.3%
BLK	Sell	BLACKROCK INC	$12,334,000	+2.9%	21,887	-0.7%	2.69%	-7.0%
PFE	Sell	PFIZER INC	$12,283,000	+12.1%	334,679	-0.1%	2.68%	+1.4%
CSCO	Sell	CISCO SYS INC	$11,980,000	-16.0%	304,146	-0.5%	2.61%	-24.1%
DIS	Sell	DISNEY WALT CO	$11,966,000	+10.7%	96,440	-0.5%	2.61%	+0.1%
MDLZ	Sell	MONDELEZ INTL INCcl a	$11,891,000	+12.0%	206,983	-0.3%	2.59%	+1.3%
RTX	Sell	RAYTHEON TECHNOLOGIES CORP	$11,825,000	-6.7%	205,507	-0.1%	2.58%	-15.7%
MDT	Sell	MEDTRONIC PLC	$11,677,000	+13.0%	112,362	-0.3%	2.54%	+2.2%
LMT	Buy	LOCKHEED MARTIN CORP	$10,559,000	+5.2%	27,549	+0.2%	2.30%	-4.9%
IYF	Buy	ISHARES TRu.s. finls etf	$10,011,000	+3.7%	88,215	+0.6%	2.18%	-6.2%
INTC	New	INTEL CORP	$9,660,000	–	186,550	–	2.10%	–
IWF	Sell	ISHARES TRrus 1000 grw etf	$8,251,000	+8.9%	38,042	-3.6%	1.80%	-1.5%
MAR	Buy	MARRIOTT INTL INC NEWcl a	$7,989,000	+8.1%	86,297	+0.1%	1.74%	-2.3%
BAC	Sell	BK OF AMERICA CORP	$7,823,000	-3.6%	324,761	-5.0%	1.70%	-12.9%
XLY	Buy	SELECT SECTOR SPDR TRsbi cons discr	$7,170,000	+39.1%	48,779	+20.9%	1.56%	+25.8%
XLV	Buy	SELECT SECTOR SPDR TRsbi healthcare	$6,787,000	+7.6%	64,339	+2.1%	1.48%	-2.7%
IYH	Sell	ISHARES TRus hlthcare etf	$5,395,000	+5.2%	23,746	-0.2%	1.18%	-4.9%
XLP	Buy	SELECT SECTOR SPDR TRsbi cons stpls	$4,348,000	+10.5%	67,838	+1.1%	0.95%	0.0%
XLI	Buy	SELECT SECTOR SPDR TRsbi int-inds	$3,769,000	+13.8%	48,966	+1.6%	0.82%	+2.9%
IYJ	Sell	ISHARES TRus industrials	$3,070,000	+10.0%	18,365	-0.7%	0.67%	-0.4%
VYM	Sell	VANGUARD WHITEHALL FDShigh div yld	$2,926,000	-1.3%	36,159	-3.9%	0.64%	-10.6%
VEA	Sell	VANGUARD TAX-MANAGED INTL FDftse dev mkt etf	$2,717,000	-8.7%	66,433	-13.4%	0.59%	-17.4%
IYC	Sell	ISHARES TRu.s. cnsm sv etf	$2,674,000	+14.0%	10,697	-0.1%	0.58%	+3.2%
IWR	Sell	ISHARES TRrus mid cap etf	$1,855,000	+3.9%	32,327	-2.9%	0.40%	-6.0%
XLE	Buy	SELECT SECTOR SPDR TRenergy	$1,585,000	-20.4%	52,927	+0.6%	0.34%	-28.1%
VWO	Sell	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$1,503,000	+3.6%	34,752	-5.1%	0.33%	-6.3%
IWD	Sell	ISHARES TRrus 1000 val etf	$1,454,000	-17.4%	12,306	-21.3%	0.32%	-25.2%
SLYG	Sell	SPDR SER TRs&p 600 smcp grw	$1,421,000	+1.2%	24,080	-2.6%	0.31%	-8.3%
XLB	Sell	SELECT SECTOR SPDR TRsbi materials	$1,377,000	+12.2%	21,643	-0.6%	0.30%	+1.4%
IGSB	Buy	ISHARES TR	$1,371,000	+196.8%	24,960	+195.4%	0.30%	+169.4%
IJR	Sell	ISHARES TRcore s&p scp etf	$1,347,000	+0.2%	19,183	-2.6%	0.29%	-9.3%
AMZN	Buy	AMAZON COM INC	$869,000	+66.8%	276	+46.0%	0.19%	+50.0%
XLU	Buy	SELECT SECTOR SPDR TRsbi int-utils	$850,000	+5.9%	14,315	+0.6%	0.18%	-4.6%
SPSB	Buy	SPDR SER TRportfolio short	$817,000	+3.9%	26,055	+3.9%	0.18%	-5.8%
SPY	Sell	SPDR S&P 500 ETF TRtr unit	$663,000	+7.8%	1,981	-0.7%	0.14%	-2.0%
LRCX	Buy	LAM RESEARCH CORP	$629,000	+144.7%	1,895	+138.4%	0.14%	+121.0%
C	Buy	CITIGROUP INC	$589,000	-15.7%	13,674	+0.0%	0.13%	-23.8%
FB	Buy	FACEBOOK INCcl a	$571,000	+23.3%	2,181	+7.0%	0.12%	+10.7%
CCK	Buy	CROWN HLDGS INC	$347,000	+20.1%	4,520	+1.8%	0.08%	+8.6%
GOOG	New	ALPHABET INCcap stk cl c	$284,000	–	193	–	0.06%	–
IWM	Buy	ISHARES TRrussell 2000 etf	$242,000	+8.0%	1,618	+3.3%	0.05%	-1.9%
VZ	Buy	VERIZON COMMUNICATIONS INC	$224,000	+10.9%	3,761	+2.7%	0.05%	0.0%
KYN	Exit	KAYNE ANDERSN MLP MIDS INVT	$0	–	-20,000	–	-0.03%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-2,567	–	-0.06%	–
RDSB	Exit	ROYAL DUTCH SHELL PLCspon adr b	$0	–	-10,000	–	-0.07%	–
STWD	Exit	STARWOOD PPTY TR INC	$0	–	-34,000	–	-0.12%	–
XLC	Exit	SELECT SECTOR SPDR TR	$0	–	-97,000	–	-1.26%	–

Q2 2020

			Value		Shares		↓ Weighting
AAPL	New	APPLE INC	$32,769,000	–	89,827	–	7.90%	–
MSFT	New	MICROSOFT CORP	$31,018,000	–	152,415	–	7.48%	–
V	New	VISA INC	$21,966,000	–	113,713	–	5.29%	–
GOOGL	New	ALPHABET INCcap stk cl a	$18,154,000	–	12,802	–	4.38%	–
MRK	New	MERCK & CO. INC	$16,842,000	–	217,800	–	4.06%	–
HD	New	HOME DEPOT INC	$15,175,000	–	60,575	–	3.66%	–
CSCO	New	CISCO SYS INC	$14,263,000	–	305,818	–	3.44%	–
FLOT	New	ISHARES TRfltg rate nt etf	$13,088,000	–	258,714	–	3.15%	–
RTX	New	RAYTHEON TECHNOLOGIES CORP	$12,680,000	–	205,770	–	3.06%	–
UNH	New	UNITEDHEALTH GROUP INC	$12,552,000	–	42,558	–	3.02%	–
JPM	New	JPMORGAN CHASE & CO	$12,470,000	–	132,580	–	3.01%	–
BLK	New	BLACKROCK INC	$11,989,000	–	22,036	–	2.89%	–
AVGO	New	BROADCOM INC	$11,580,000	–	36,691	–	2.79%	–
XLK	New	SELECT SECTOR SPDR TRtechnology	$11,283,000	–	107,980	–	2.72%	–
IYW	New	ISHARES TRu.s. tech etf	$10,982,000	–	40,703	–	2.65%	–
WMT	New	WALMART INC	$10,980,000	–	91,664	–	2.65%	–
PFE	New	PFIZER INC	$10,957,000	–	335,078	–	2.64%	–
DIS	New	DISNEY WALT CO	$10,808,000	–	96,923	–	2.60%	–
MDLZ	New	MONDELEZ INTL INCcl a	$10,613,000	–	207,559	–	2.56%	–
MDT	New	MEDTRONIC PLC	$10,335,000	–	112,706	–	2.49%	–
LMT	New	LOCKHEED MARTIN CORP	$10,036,000	–	27,502	–	2.42%	–
IYF	New	ISHARES TRu.s. finls etf	$9,654,000	–	87,649	–	2.33%	–
UPS	New	UNITED PARCEL SERVICE INCcl b	$8,789,000	–	79,051	–	2.12%	–
BAC	New	BK OF AMERICA CORP	$8,118,000	–	341,826	–	1.96%	–
IWF	New	ISHARES TRrus 1000 grw etf	$7,574,000	–	39,458	–	1.82%	–
MAR	New	MARRIOTT INTL INC NEWcl a	$7,392,000	–	86,227	–	1.78%	–
XLV	New	SELECT SECTOR SPDR TRsbi healthcare	$6,306,000	–	63,016	–	1.52%	–
XLC	New	SELECT SECTOR SPDR TR	$5,242,000	–	97,000	–	1.26%	–
XLY	New	SELECT SECTOR SPDR TRsbi cons discr	$5,153,000	–	40,353	–	1.24%	–
IYH	New	ISHARES TRus hlthcare etf	$5,130,000	–	23,791	–	1.24%	–
XLP	New	SELECT SECTOR SPDR TRsbi cons stpls	$3,935,000	–	67,109	–	0.95%	–
XLI	New	SELECT SECTOR SPDR TRsbi int-inds	$3,311,000	–	48,196	–	0.80%	–
VEA	New	VANGUARD TAX-MANAGED FDSftse dev mkt etf	$2,976,000	–	76,717	–	0.72%	–
VYM	New	VANGUARD WHITEHALL FDShigh div yld	$2,964,000	–	37,620	–	0.71%	–
IYJ	New	ISHARES TRus industrials	$2,790,000	–	18,502	–	0.67%	–
IYC	New	ISHARES TRu.s. cnsm sv etf	$2,345,000	–	10,708	–	0.56%	–
XLE	New	SELECT SECTOR SPDR TRenergy	$1,992,000	–	52,620	–	0.48%	–
IWR	New	ISHARES TRrus mid cap etf	$1,785,000	–	33,307	–	0.43%	–
IWD	New	ISHARES TRrus 1000 val etf	$1,761,000	–	15,641	–	0.42%	–
VWO	New	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$1,451,000	–	36,637	–	0.35%	–
SLYG	New	SPDR SER TRs&p 600 smcp grw	$1,404,000	–	24,723	–	0.34%	–
IJR	New	ISHARES TRcore s&p scp etf	$1,344,000	–	19,685	–	0.32%	–
XLB	New	SELECT SECTOR SPDR TRsbi materials	$1,227,000	–	21,779	–	0.30%	–
SUB	New	ISHARES TRshrt nat mun etf	$1,011,000	–	9,370	–	0.24%	–
VB	New	VANGUARD INDEX FDSsmall cp etf	$908,000	–	6,230	–	0.22%	–
IYK	New	ISHARES TRu.s. cnsm gd etf	$900,000	–	7,059	–	0.22%	–
VO	New	VANGUARD INDEX FDSmid cap etf	$875,000	–	5,340	–	0.21%	–
XLU	New	SELECT SECTOR SPDR TRsbi int-utils	$803,000	–	14,236	–	0.19%	–
SPSB	New	SPDR SER TRportfolio short	$786,000	–	25,075	–	0.19%	–
AGG	New	ISHARES TRcore us aggbd et	$773,000	–	6,540	–	0.19%	–
C	New	CITIGROUP INC	$699,000	–	13,672	–	0.17%	–
SPY	New	SPDR S&P 500 ETF TRtr unit	$615,000	–	1,994	–	0.15%	–
AMZN	New	AMAZON COM INC	$521,000	–	189	–	0.13%	–
STWD	New	STARWOOD PPTY TR INC	$509,000	–	34,000	–	0.12%	–
FB	New	FACEBOOK INCcl a	$463,000	–	2,039	–	0.11%	–
IGSB	New	ISHARES TRsh tr crport etf	$462,000	–	8,450	–	0.11%	–
SCHX	New	SCHWAB STRATEGIC TRus lrg cap etf	$324,000	–	4,371	–	0.08%	–
RDSB	New	ROYAL DUTCH SHELL PLCspon adr b	$305,000	–	10,000	–	0.07%	–
CCK	New	CROWN HLDGS INC	$289,000	–	4,438	–	0.07%	–
LRCX	New	LAM RESEARCH CORP	$257,000	–	795	–	0.06%	–
BP	New	BP PLCsponsored adr	$233,000	–	10,000	–	0.06%	–
SCHM	New	SCHWAB STRATEGIC TRus mid-cap etf	$227,000	–	4,305	–	0.06%	–
CVX	New	CHEVRON CORP NEW	$229,000	–	2,567	–	0.06%	–
IWM	New	ISHARES TRrussell 2000 etf	$224,000	–	1,566	–	0.05%	–
VZ	New	VERIZON COMMUNICATIONS INC	$202,000	–	3,661	–	0.05%	–
KYN	New	KAYNE ANDERSN MLP MIDS INVT	$106,000	–	20,000	–	0.03%	–

Q4 2019

			Value		Shares		↓ Weighting
VZ	Exit	VERIZON COMMUNICATIONS INC	$0	–	-3,634	–	-0.06%	–
SCHM	Exit	SCHWAB STRATEGIC TRus mid-cap etf	$0	–	-4,305	–	-0.06%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-4,041	–	-0.07%	–
IGSB	Exit	ISHARES TRsh tr crport etf	$0	–	-5,330	–	-0.07%	–
CCK	Exit	CROWN HOLDINGS INC	$0	–	-4,438	–	-0.07%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-2,567	–	-0.08%	–
SCHX	Exit	SCHWAB STRATEGIC TRus lrg cap etf	$0	–	-4,371	–	-0.08%	–
EEM	Exit	ISHARES TRmsci emg mkt etf	$0	–	-7,582	–	-0.08%	–
BP	Exit	BP PLCsponsored adr	$0	–	-10,000	–	-0.10%	–
VB	Exit	VANGUARD INDEX FDSsmall cp etf	$0	–	-2,810	–	-0.11%	–
EFA	Exit	ISHARES TRmsci eafe etf	$0	–	-7,244	–	-0.12%	–
AGG	Exit	ISHARES TRcore us aggbd et	$0	–	-4,440	–	-0.13%	–
SPSB	Exit	SPDR SERIES TRUSTportfolio short	$0	–	-16,300	–	-0.13%	–
VVV	Exit	VALVOLINE INC	$0	–	-24,590	–	-0.14%	–
RDSB	Exit	ROYAL DUTCH SHELL PLCspon adr b	$0	–	-10,000	–	-0.15%	–
VGK	Exit	VANGUARD INTL EQUITY INDEX Fftse europe etf	$0	–	-11,741	–	-0.16%	–
ASH	Exit	ASHLAND GLOBAL HLDGS INC	$0	–	-8,297	–	-0.16%	–
IYK	Exit	ISHARES TRu.s. cnsm gd etf	$0	–	-5,708	–	-0.18%	–
XLU	Exit	SELECT SECTOR SPDR TRsbi int-utils	$0	–	-12,526	–	-0.21%	–
C	Exit	CITIGROUP INC	$0	–	-14,140	–	-0.25%	–
XLB	Exit	SELECT SECTOR SPDR TRsbi materials	$0	–	-18,855	–	-0.28%	–
VO	Exit	VANGUARD INDEX FDSmid cap etf	$0	–	-7,120	–	-0.30%	–
VWO	Exit	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$0	–	-30,077	–	-0.31%	–
SLYG	Exit	SPDR SERIES TRUSTs&p 600 smcp grw	$0	–	-20,825	–	-0.32%	–
IWD	Exit	ISHARES TRrus 1000 val etf	$0	–	-10,052	–	-0.33%	–
IJR	Exit	ISHARES TRcore s&p scp etf	$0	–	-18,169	–	-0.36%	–
IWR	Exit	ISHARES TRrus mid cap etf	$0	–	-31,559	–	-0.45%	–
VYM	Exit	VANGUARD WHITEHALL FDS INChigh div yld	$0	–	-25,099	–	-0.56%	–
IYC	Exit	ISHARES TRu.s. cnsm sv etf	$0	–	-12,207	–	-0.67%	–
XLE	Exit	SELECT SECTOR SPDR TRenergy	$0	–	-45,228	–	-0.68%	–
XLP	Exit	SELECT SECTOR SPDR TRsbi cons stpls	$0	–	-46,826	–	-0.73%	–
IYJ	Exit	ISHARES TRus industrials	$0	–	-18,368	–	-0.74%	–
BCPC	Exit	BALCHEM CORP	$0	–	-29,450	–	-0.74%	–
XLI	Exit	SELECT SECTOR SPDR TRsbi int-inds	$0	–	-37,638	–	-0.74%	–
VEA	Exit	VANGUARD TAX MANAGED INTL FDftse dev mkt etf	$0	–	-71,581	–	-0.75%	–
IWF	Exit	ISHARES TRrus 1000 grw etf	$0	–	-28,138	–	-1.14%	–
IYH	Exit	ISHARES TRus hlthcare etf	$0	–	-23,761	–	-1.14%	–
XLC	Exit	SELECT SECTOR SPDR TR	$0	–	-91,439	–	-1.15%	–
XLY	Exit	SELECT SECTOR SPDR TRsbi cons discr	$0	–	-37,632	–	-1.15%	–
XLV	Exit	SELECT SECTOR SPDR TRsbi healthcare	$0	–	-57,788	–	-1.32%	–
XLK	Exit	SELECT SECTOR SPDR TRtechnology	$0	–	-85,198	–	-1.74%	–
IYW	Exit	ISHARES TRu.s. tech etf	$0	–	-40,673	–	-2.11%	–
FLOT	Exit	ISHARES TRfltg rate nt etf	$0	–	-172,559	–	-2.23%	–
UNH	Exit	UNITEDHEALTH GROUP INC	$0	–	-40,591	–	-2.24%	–
UPS	Exit	UNITED PARCEL SERVICE INCcl b	$0	–	-76,269	–	-2.32%	–
BAC	Exit	BANK AMER CORP	$0	–	-324,151	–	-2.40%	–
BLK	Exit	BLACKROCK INC	$0	–	-21,576	–	-2.44%	–
IYF	Exit	ISHARES TRu.s. finls etf	$0	–	-76,766	–	-2.51%	–
AVGO	Exit	BROADCOM INC	$0	–	-35,939	–	-2.52%	–
DIS	Exit	DISNEY WALT CO	$0	–	-76,230	–	-2.52%	–
MPC	Exit	MARATHON PETE CORP	$0	–	-163,606	–	-2.52%	–
LMT	Exit	LOCKHEED MARTIN CORP	$0	–	-26,316	–	-2.60%	–
MAR	Exit	MARRIOTT INTL INC NEWcl a	$0	–	-83,127	–	-2.62%	–
WMT	Exit	WALMART INC	$0	–	-89,924	–	-2.71%	–
MDLZ	Exit	MONDELEZ INTL INCcl a	$0	–	-203,171	–	-2.85%	–
CSCO	Exit	CISCO SYS INC	$0	–	-228,487	–	-2.86%	–
PFE	Exit	PFIZER INC	$0	–	-326,820	–	-2.98%	–
MDT	Exit	MEDTRONIC PLC	$0	–	-111,053	–	-3.06%	–
UTX	Exit	UNITED TECHNOLOGIES CORP	$0	–	-93,956	–	-3.25%	–
HD	Exit	HOME DEPOT INC	$0	–	-60,589	–	-3.57%	–
ORCL	Exit	ORACLE CORP	$0	–	-259,482	–	-3.62%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-130,814	–	-3.90%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-13,065	–	-4.05%	–
MRK	Exit	MERCK & CO INC	$0	–	-216,187	–	-4.62%	–
V	Exit	VISA INC	$0	–	-113,369	–	-4.95%	–
AAPL	Exit	APPLE INC	$0	–	-90,614	–	-5.15%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-153,742	–	-5.42%	–

Q3 2019

			Value		Shares		↓ Weighting
MSFT	Sell	MICROSOFT CORP	$21,375,000	+2.3%	153,742	-1.4%	5.42%	+5.0%
AAPL	Sell	APPLE INC	$20,295,000	+12.7%	90,614	-0.4%	5.15%	+15.6%
V	Sell	VISA INC	$19,501,000	-14.6%	113,369	-13.8%	4.95%	-12.4%
MRK	Sell	MERCK & CO INC	$18,199,000	-1.1%	216,187	-1.5%	4.62%	+1.5%
GOOGL	Buy	ALPHABET INCcap stk cl a	$15,954,000	+13.2%	13,065	+0.4%	4.05%	+16.2%
JPM	Sell	JPMORGAN CHASE & CO	$15,395,000	+4.8%	130,814	-0.4%	3.90%	+7.6%
ORCL	Sell	ORACLE CORP	$14,279,000	-4.1%	259,482	-0.7%	3.62%	-1.6%
HD	Sell	HOME DEPOT INC	$14,058,000	+10.7%	60,589	-0.8%	3.57%	+13.6%
UTX	Buy	UNITED TECHNOLOGIES CORP	$12,827,000	+5.1%	93,956	+0.2%	3.25%	+7.9%
MDT	Sell	MEDTRONIC PLC	$12,063,000	+11.1%	111,053	-0.4%	3.06%	+14.0%
PFE	Sell	PFIZER INC	$11,743,000	-17.8%	326,820	-0.8%	2.98%	-15.6%
CSCO	Sell	CISCO SYS INC	$11,290,000	-10.0%	228,487	-0.3%	2.86%	-7.6%
MDLZ	Buy	MONDELEZ INTL INCcl a	$11,239,000	+2.9%	203,171	+0.2%	2.85%	+5.6%
WMT	Buy	WALMART INC	$10,672,000	+10.7%	89,924	+3.0%	2.71%	+13.5%
MAR	Sell	MARRIOTT INTL INC NEWcl a	$10,339,000	-11.8%	83,127	-0.5%	2.62%	-9.5%
LMT	Buy	LOCKHEED MARTIN CORP	$10,265,000	+7.8%	26,316	+0.4%	2.60%	+10.6%
MPC	Buy	MARATHON PETE CORP	$9,939,000	+11.0%	163,606	+2.1%	2.52%	+13.9%
DIS	New	DISNEY WALT CO	$9,934,000	–	76,230	–	2.52%	–
IYF	Buy	ISHARES TRu.s. finls etf	$9,882,000	+4.7%	76,766	+2.1%	2.51%	+7.4%
BLK	Buy	BLACKROCK INC	$9,615,000	-4.5%	21,576	+0.6%	2.44%	-2.0%
BAC	Buy	BANK AMER CORP	$9,455,000	+1.2%	324,151	+0.6%	2.40%	+3.8%
UPS	Sell	UNITED PARCEL SERVICE INCcl b	$9,139,000	+15.9%	76,269	-0.1%	2.32%	+18.9%
UNH	Buy	UNITEDHEALTH GROUP INC	$8,821,000	-10.2%	40,591	+0.8%	2.24%	-7.8%
FLOT	Buy	ISHARES TRfltg rate nt etf	$8,795,000	+28.7%	172,559	+28.6%	2.23%	+32.1%
IYW	Buy	ISHARES TRu.s. tech etf	$8,306,000	+6.6%	40,673	+3.3%	2.11%	+9.3%
XLK	Buy	SELECT SECTOR SPDR TRtechnology	$6,861,000	+6.6%	85,198	+3.3%	1.74%	+9.4%
XLV	Buy	SELECT SECTOR SPDR TRsbi healthcare	$5,208,000	+0.9%	57,788	+3.7%	1.32%	+3.5%
XLY	Buy	SELECT SECTOR SPDR TRsbi cons discr	$4,542,000	+6.7%	37,632	+5.4%	1.15%	+9.5%
XLC	Buy	SELECT SECTOR SPDR TR	$4,528,000	+37.3%	91,439	+36.5%	1.15%	+41.0%
IYH	Buy	ISHARES TRus hlthcare etf	$4,492,000	-2.4%	23,761	+0.8%	1.14%	+0.1%
IWF	Buy	ISHARES TRrus 1000 grw etf	$4,492,000	+9.0%	28,138	+7.4%	1.14%	+11.8%
VEA	Buy	VANGUARD TAX MANAGED INTL FDftse dev mkt etf	$2,941,000	+15.8%	71,581	+17.6%	0.75%	+18.8%
XLI	Sell	SELECT SECTOR SPDR TRsbi int-inds	$2,922,000	-4.6%	37,638	-4.9%	0.74%	-2.1%
IYJ	Sell	ISHARES TRus industrials	$2,917,000	-9.7%	18,368	-10.0%	0.74%	-7.4%
XLP	Buy	SELECT SECTOR SPDR TRsbi cons stpls	$2,876,000	+8.1%	46,826	+2.2%	0.73%	+10.9%
XLE	Sell	SELECT SECTOR SPDR TRenergy	$2,678,000	-37.5%	45,228	-32.7%	0.68%	-35.9%
IYC	Buy	ISHARES TRu.s. cnsm sv etf	$2,654,000	+3.9%	12,207	+4.1%	0.67%	+6.7%
VYM	Buy	VANGUARD WHITEHALL FDS INChigh div yld	$2,227,000	+2.7%	25,099	+1.1%	0.56%	+5.4%
IWR	Buy	ISHARES TRrus mid cap etf	$1,766,000	+1.5%	31,559	+1.3%	0.45%	+4.2%
IJR	Buy	ISHARES TRcore s&p scp etf	$1,414,000	+0.6%	18,169	+1.2%	0.36%	+3.5%
IWD	Buy	ISHARES TRrus 1000 val etf	$1,289,000	+8.8%	10,052	+7.9%	0.33%	+11.6%
SLYG	Sell	SPDR SERIES TRUSTs&p 600 smcp grw	$1,241,000	-10.5%	20,825	-8.5%	0.32%	-8.2%
VWO	Sell	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$1,211,000	-13.6%	30,077	-8.8%	0.31%	-11.5%
VO	Sell	VANGUARD INDEX FDSmid cap etf	$1,193,000	-42.3%	7,120	-42.4%	0.30%	-40.7%
XLB	Buy	SELECT SECTOR SPDR TRsbi materials	$1,097,000	+1.0%	18,855	+1.6%	0.28%	+3.7%
C	Sell	CITIGROUP INC	$977,000	-2.2%	14,140	-0.8%	0.25%	+0.4%
XLU	Buy	SELECT SECTOR SPDR TRsbi int-utils	$811,000	+9.4%	12,526	+0.8%	0.21%	+12.6%
VGK	Sell	VANGUARD INTL EQUITY INDEX Fftse europe etf	$629,000	-9.8%	11,741	-7.5%	0.16%	-7.0%
RDSB	New	ROYAL DUTCH SHELL PLCspon adr b	$599,000	–	10,000	–	0.15%	–
SPSB	Sell	SPDR SERIES TRUSTportfolio short	$503,000	-10.7%	16,300	-10.9%	0.13%	-7.9%
EFA	Sell	ISHARES TRmsci eafe etf	$472,000	-66.3%	7,244	-66.0%	0.12%	-65.3%
VB	Sell	VANGUARD INDEX FDSsmall cp etf	$432,000	-45.7%	2,810	-44.6%	0.11%	-44.2%
BP	New	BP PLCsponsored adr	$380,000	–	10,000	–	0.10%	–
EEM	Sell	ISHARES TRmsci emg mkt etf	$310,000	-50.4%	7,582	-48.0%	0.08%	-49.0%
CVX	Sell	CHEVRON CORP NEW	$304,000	-11.6%	2,567	-7.2%	0.08%	-9.4%
CCK	Sell	CROWN HOLDINGS INC	$293,000	+1.4%	4,438	-6.3%	0.07%	+4.2%
IGSB	Sell	ISHARES TRsh tr crport etf	$286,000	-2.7%	5,330	-3.3%	0.07%	0.0%
XOM	Sell	EXXON MOBIL CORP	$285,000	-96.1%	4,041	-95.8%	0.07%	-96.1%
VZ	Buy	VERIZON COMMUNICATIONS INC	$219,000	+6.3%	3,634	+0.6%	0.06%	+9.8%
UGI	Exit	UGI CORP NEW	$0	–	-11,437	–	-0.15%	–
DWM	Exit	WISDOMTREE TRintl equity fd	$0	–	-15,350	–	-0.19%	–
VONV	Exit	VANGUARD SCOTTSDALE FDSvng rus1000val	$0	–	-8,065	–	-0.22%	–
VONG	Exit	VANGUARD SCOTTSDALE FDSvng rus1000grw	$0	–	-11,645	–	-0.47%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-91,969	–	-3.17%	–

Q2 2019

			Value		Shares		↓ Weighting
V	New	VISA INC	$22,834,000	–	131,571	–	5.64%	–
MSFT	New	MICROSOFT CORP	$20,887,000	–	155,923	–	5.16%	–
MRK	New	MERCK & CO INC	$18,405,000	–	219,496	–	4.55%	–
AAPL	New	APPLE INC	$18,009,000	–	90,993	–	4.45%	–
ORCL	New	ORACLE CORP	$14,891,000	–	261,378	–	3.68%	–
JPM	New	JPMORGAN CHASE & CO	$14,686,000	–	131,360	–	3.63%	–
PFE	New	PFIZER INC	$14,278,000	–	329,602	–	3.53%	–
GOOGL	New	ALPHABET INC	$14,093,000	–	13,015	–	3.48%	–
JNJ	New	JOHNSON & JOHNSON	$12,809,000	–	91,969	–	3.17%	–
HD	New	HOME DEPOT INC	$12,700,000	–	61,065	–	3.14%	–
CSCO	New	CISCO SYS INC	$12,541,000	–	229,148	–	3.10%	–
UTX	New	UNITED TECHNOLOGIES CORP	$12,204,000	–	93,735	–	3.02%	–
MAR	New	MARRIOTT INTL INC NEW	$11,723,000	–	83,563	–	2.90%	–
MDLZ	New	MONDELEZ INTL INC	$10,926,000	–	202,713	–	2.70%	–
MDT	New	MEDTRONIC PLC	$10,861,000	–	111,518	–	2.68%	–
AVGO	New	BROADCOM INC	$10,345,000	–	35,939	–	2.56%	–
BLK	New	BLACKROCK INC	$10,070,000	–	21,457	–	2.49%	–
UNH	New	UNITEDHEALTH GROUP INC	$9,823,000	–	40,258	–	2.43%	–
WMT	New	WALMART INC	$9,643,000	–	87,276	–	2.38%	–
LMT	New	LOCKHEED MARTIN CORP	$9,525,000	–	26,200	–	2.36%	–
IYF	New	ISHARES TRu.s. finls etf	$9,442,000	–	75,176	–	2.33%	–
BAC	New	BANK AMER CORP	$9,346,000	–	322,281	–	2.31%	–
MPC	New	MARATHON PETE CORP	$8,957,000	–	160,298	–	2.21%	–
UPS	New	UNITED PARCEL SERVICE INC	$7,885,000	–	76,351	–	1.95%	–
IYW	New	ISHARES TRu.s. tech etf	$7,795,000	–	39,392	–	1.93%	–
XOM	New	EXXON MOBIL CORP	$7,396,000	–	96,510	–	1.83%	–
FLOT	New	ISHARES TRfltg rate nt etf	$6,833,000	–	134,160	–	1.69%	–
XLK	New	SELECT SECTOR SPDR TRtechnology	$6,434,000	–	82,439	–	1.59%	–
XLV	New	SELECT SECTOR SPDR TRsbi healthcare	$5,163,000	–	55,728	–	1.28%	–
IYH	New	ISHARES TRus hlthcare etf	$4,603,000	–	23,572	–	1.14%	–
XLE	New	SELECT SECTOR SPDR TRenergy	$4,284,000	–	67,250	–	1.06%	–
XLY	New	SELECT SECTOR SPDR TRsbi cons discr	$4,256,000	–	35,702	–	1.05%	–
IWF	New	ISHARES TRrus 1000 grw etf	$4,121,000	–	26,190	–	1.02%	–
XLC	New	SELECT SECTOR SPDR TR	$3,298,000	–	66,997	–	0.82%	–
IYJ	New	ISHARES TRus industrials	$3,231,000	–	20,417	–	0.80%	–
XLI	New	SELECT SECTOR SPDR TRsbi int-inds	$3,063,000	–	39,568	–	0.76%	–
BCPC	New	BALCHEM CORP	$2,944,000	–	29,450	–	0.73%	–
XLP	New	SELECT SECTOR SPDR TRsbi cons stpls	$2,660,000	–	45,811	–	0.66%	–
IYC	New	ISHARES TRu.s. cnsm sv etf	$2,554,000	–	11,731	–	0.63%	–
VEA	New	VANGUARD TAX MANAGED INTL FDftse dev mkt etf	$2,540,000	–	60,890	–	0.63%	–
VYM	New	VANGUARD WHITEHALL FDS INChigh div yld	$2,169,000	–	24,820	–	0.54%	–
VO	New	VANGUARD INDEX FDSmid cap etf	$2,067,000	–	12,363	–	0.51%	–
VONG	New	VANGUARD SCOTTSDALE FDSvng rus1000grw	$1,890,000	–	11,645	–	0.47%	–
IWR	New	ISHARES TRrus mid cap etf	$1,740,000	–	31,152	–	0.43%	–
VWO	New	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$1,402,000	–	32,963	–	0.35%	–
IJR	New	ISHARES TRcore s&p scp etf	$1,405,000	–	17,950	–	0.35%	–
EFA	New	ISHARES TRmsci eafe etf	$1,399,000	–	21,279	–	0.35%	–
SLYG	New	SPDR SERIES TRUSTs&p 600 smcp grw	$1,387,000	–	22,769	–	0.34%	–
IWD	New	ISHARES TRrus 1000 val etf	$1,185,000	–	9,317	–	0.29%	–
XLB	New	SELECT SECTOR SPDR TRsbi materials	$1,086,000	–	18,565	–	0.27%	–
C	New	CITIGROUP INC	$999,000	–	14,258	–	0.25%	–
VONV	New	VANGUARD SCOTTSDALE FDSvng rus1000val	$900,000	–	8,065	–	0.22%	–
VB	New	VANGUARD INDEX FDSsmall cp etf	$795,000	–	5,072	–	0.20%	–
DWM	New	WISDOMTREE TRintl equity fd	$783,000	–	15,350	–	0.19%	–
XLU	New	SELECT SECTOR SPDR TRsbi int-utils	$741,000	–	12,422	–	0.18%	–
VGK	New	VANGUARD INTL EQUITY INDEX Fftse europe etf	$697,000	–	12,699	–	0.17%	–
IYK	New	ISHARES TRu.s. cnsm gd etf	$693,000	–	5,708	–	0.17%	–
ASH	New	ASHLAND GLOBAL HLDGS INC	$664,000	–	8,297	–	0.16%	–
EEM	New	ISHARES TRmsci emg mkt etf	$625,000	–	14,577	–	0.16%	–
UGI	New	UGI CORP NEW	$611,000	–	11,437	–	0.15%	–
SPSB	New	SPDR SERIES TRUSTportfolio short	$563,000	–	18,300	–	0.14%	–
AGG	New	ISHARES TRcore us aggbd et	$494,000	–	4,440	–	0.12%	–
VVV	New	VALVOLINE INC	$480,000	–	24,590	–	0.12%	–
CVX	New	CHEVRON CORP NEW	$344,000	–	2,767	–	0.08%	–
SCHX	New	SCHWAB STRATEGIC TRus lrg cap etf	$307,000	–	4,371	–	0.08%	–
IGSB	New	ISHARES TRsh tr crport etf	$294,000	–	5,510	–	0.07%	–
CCK	New	CROWN HOLDINGS INC	$289,000	–	4,738	–	0.07%	–
SCHM	New	SCHWAB STRATEGIC TRus mid-cap etf	$246,000	–	4,305	–	0.06%	–
VZ	New	VERIZON COMMUNICATIONS INC	$206,000	–	3,614	–	0.05%	–

Q4 2018

			Value		Shares		↓ Weighting
MMP	Exit	MAGELLAN MIDSTREAM PRTNRS LP	$0	–	-3,000	–	-0.04%	–
WTR	Exit	AQUA AMERICA INC	$0	–	-5,936	–	-0.04%	–
T	Exit	AT&T INC	$0	–	-6,508	–	-0.04%	–
NVDA	Exit	NVIDIA CORP	$0	–	-782	–	-0.05%	–
CCK	Exit	CROWN HOLDINGS INC	$0	–	-4,738	–	-0.05%	–
VUG	Exit	VANGUARD INDEX FDSgrowth etf	$0	–	-1,515	–	-0.05%	–
VOX	Exit	VANGUARD WORLD FDS	$0	–	-2,891	–	-0.05%	–
SCHM	Exit	SCHWAB STRATEGIC TRus mid-cap etf	$0	–	-4,305	–	-0.05%	–
UGI	Exit	UGI CORP NEW	$0	–	-4,876	–	-0.06%	–
IWM	Exit	ISHARES TRrussell 2000 etf	$0	–	-1,665	–	-0.06%	–
QQQ	Exit	INVESCO QQQ TRunit ser 1	$0	–	-1,504	–	-0.06%	–
COST	Exit	COSTCO WHSL CORP NEW	$0	–	-1,202	–	-0.06%	–
VZ	Exit	VERIZON COMMUNICATIONS INC	$0	–	-5,377	–	-0.06%	–
DIS	Exit	DISNEY WALT CO	$0	–	-2,459	–	-0.06%	–
FB	Exit	FACEBOOK INC	$0	–	-1,809	–	-0.06%	–
SCHX	Exit	SCHWAB STRATEGIC TRus lrg cap etf	$0	–	-4,371	–	-0.06%	–
PFF	Exit	ISHARES TRs&p us pfd stk	$0	–	-8,940	–	-0.07%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-2,767	–	-0.07%	–
AGG	Exit	ISHARES TRcore us aggbd et	$0	–	-3,840	–	-0.08%	–
VVV	Exit	VALVOLINE INC	$0	–	-24,590	–	-0.11%	–
EEM	Exit	ISHARES TRmsci emg mkt etf	$0	–	-14,882	–	-0.13%	–
ASH	Exit	ASHLAND GLOBAL HLDGS INC	$0	–	-8,297	–	-0.14%	–
IYK	Exit	ISHARES TRu.s. cnsm gd etf	$0	–	-5,909	–	-0.15%	–
VONV	Exit	VANGUARD SCOTTSDALE FDSvng rus1000val	$0	–	-6,800	–	-0.16%	–
VB	Exit	VANGUARD INDEX FDSsmall cp etf	$0	–	-4,717	–	-0.16%	–
XLU	Exit	SELECT SECTOR SPDR TRsbi int-utils	$0	–	-15,185	–	-0.17%	–
AMZN	Exit	AMAZON COM INC	$0	–	-465	–	-0.19%	–
DWM	Exit	WISDOMTREE TRintl equity fd	$0	–	-19,932	–	-0.22%	–
IWD	Exit	ISHARES TRrus 1000 val etf	$0	–	-9,240	–	-0.24%	–
C	Exit	CITIGROUP INC	$0	–	-16,600	–	-0.25%	–
XLB	Exit	SELECT SECTOR SPDR TRsbi materials	$0	–	-22,518	–	-0.27%	–
EFA	Exit	ISHARES TRmsci eafe etf	$0	–	-20,915	–	-0.30%	–
SLYG	Exit	SPDR SERIES TRUSTs&p 600 smcp grw	$0	–	-23,794	–	-0.33%	–
VWO	Exit	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$0	–	-39,311	–	-0.34%	–
VGK	Exit	VANGUARD INTL EQUITY INDEX Fftse europe etf	$0	–	-30,476	–	-0.36%	–
VONG	Exit	VANGUARD SCOTTSDALE FDSvng rus1000grw	$0	–	-10,900	–	-0.36%	–
VO	Exit	VANGUARD INDEX FDSmid cap etf	$0	–	-12,458	–	-0.42%	–
IYC	Exit	ISHARES TRu.s. cnsm sv etf	$0	–	-12,302	–	-0.54%	–
VEU	Exit	VANGUARD INTL EQUITY INDEX Fallwrld ex us	$0	–	-53,000	–	-0.57%	–
XLP	Exit	SELECT SECTOR SPDR TRsbi cons stpls	$0	–	-56,729	–	-0.64%	–
XLI	Exit	SELECT SECTOR SPDR TRsbi int-inds	$0	–	-39,656	–	-0.65%	–
IJR	Exit	ISHARES TRcore s&p scp etf	$0	–	-36,498	–	-0.66%	–
BCPC	Exit	BALCHEM CORP	$0	–	-29,450	–	-0.69%	–
VEA	Exit	VANGUARD TAX MANAGED INTL FDftse dev mkt etf	$0	–	-77,486	–	-0.70%	–
VYM	Exit	VANGUARD WHITEHALL FDS INChigh div yld	$0	–	-45,225	–	-0.82%	–
IYJ	Exit	ISHARES TRus industrials	$0	–	-26,422	–	-0.86%	–
IWR	Exit	ISHARES TRrus mid cap etf	$0	–	-19,261	–	-0.88%	–
IYH	Exit	ISHARES TRus hlthcare etf	$0	–	-22,789	–	-0.96%	–
XLE	Exit	SELECT SECTOR SPDR TRenergy	$0	–	-61,716	–	-0.97%	–
IGSB	Exit	ISHARES TRsh tr crport etf	$0	–	-107,508	–	-1.16%	–
IWF	Exit	ISHARES TRrus 1000 grw etf	$0	–	-39,622	–	-1.28%	–
XLV	Exit	SELECT SECTOR SPDR TRsbi healthcare	$0	–	-65,346	–	-1.29%	–
XLY	Exit	SELECT SECTOR SPDR TRsbi cons discr	$0	–	-56,313	–	-1.37%	–
SPSB	Exit	SPDR SERIES TRUSTportfolio short	$0	–	-247,881	–	-1.55%	–
GS	Exit	GOLDMAN SACHS GROUP INC	$0	–	-35,691	–	-1.66%	–
WMT	Exit	WALMART INC	$0	–	-97,180	–	-1.90%	–
OXY	Exit	OCCIDENTAL PETE CORP DEL	$0	–	-111,129	–	-1.90%	–
XLK	Exit	SELECT SECTOR SPDR TRtechnology	$0	–	-121,635	–	-1.90%	–
LMT	Exit	LOCKHEED MARTIN CORP	$0	–	-27,041	–	-1.94%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-111,085	–	-1.96%	–
UPS	Exit	UNITED PARCEL SERVICE INC	$0	–	-84,644	–	-2.05%	–
BAC	Exit	BANK AMER CORP	$0	–	-378,714	–	-2.32%	–
BLK	Exit	BLACKROCK INC	$0	–	-23,968	–	-2.35%	–
IYW	Exit	ISHARES TRu.s. tech etf	$0	–	-59,570	–	-2.40%	–
DWDP	Exit	DOWDUPONT INC	$0	–	-180,412	–	-2.41%	–
UNH	Exit	UNITEDHEALTH GROUP INC	$0	–	-44,368	–	-2.45%	–
MDT	Exit	MEDTRONIC PLC	$0	–	-124,225	–	-2.54%	–
CB	Exit	CHUBB LIMITED	$0	–	-92,089	–	-2.56%	–
CSCO	Exit	CISCO SYS INC	$0	–	-258,256	–	-2.61%	–
IYF	Exit	ISHARES TRu.s. finls etf	$0	–	-103,576	–	-2.61%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-103,487	–	-2.97%	–
MPC	Exit	MARATHON PETE CORP	$0	–	-179,675	–	-2.98%	–
HD	Exit	HOME DEPOT INC	$0	–	-70,187	–	-3.02%	–
UTX	Exit	UNITED TECHNOLOGIES CORP	$0	–	-104,285	–	-3.03%	–
ORCL	Exit	ORACLE CORP	$0	–	-290,011	–	-3.11%	–
PFE	Exit	PFIZER INC	$0	–	-375,750	–	-3.44%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-148,624	–	-3.48%	–
MRK	Exit	MERCK & CO INC	$0	–	-248,579	–	-3.66%	–
GOOGL	Exit	ALPHABET INC	$0	–	-14,984	–	-3.76%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-182,789	–	-4.34%	–
V	Exit	VISA INC	$0	–	-151,603	–	-4.73%	–
AAPL	Exit	APPLE INC	$0	–	-105,760	–	-4.96%	–

Q3 2018

			Value		Shares		↓ Weighting
AAPL	Buy	APPLE INC	$23,874,000	+22.7%	105,760	+0.6%	4.96%	+6.8%
V	Buy	VISA INC	$22,754,000	+13.7%	151,603	+0.4%	4.73%	-1.0%
MSFT	Buy	MICROSOFT CORP	$20,906,000	+16.3%	182,789	+0.3%	4.34%	+1.2%
GOOGL	Buy	ALPHABET INC	$18,087,000	+7.4%	14,984	+0.5%	3.76%	-6.5%
MRK	Buy	MERCK & CO INC	$17,634,000	+17.9%	248,579	+0.9%	3.66%	+2.6%
JPM	Buy	JPMORGAN CHASE & CO	$16,771,000	+9.4%	148,624	+1.0%	3.48%	-4.8%
PFE	Buy	PFIZER INC	$16,559,000	+22.4%	375,750	+0.8%	3.44%	+6.5%
ORCL	Buy	ORACLE CORP	$14,953,000	+18.3%	290,011	+1.1%	3.11%	+3.0%
UTX	Buy	UNITED TECHNOLOGIES CORP	$14,580,000	+12.9%	104,285	+0.9%	3.03%	-1.8%
HD	Buy	HOME DEPOT INC	$14,539,000	+6.7%	70,187	+0.4%	3.02%	-7.2%
MPC	Buy	MARATHON PETE CORP	$14,369,000	+14.3%	179,675	+0.2%	2.98%	-0.6%
JNJ	Buy	JOHNSON & JOHNSON	$14,299,000	+15.2%	103,487	+1.2%	2.97%	+0.3%
IYF	Buy	ISHARES TRu.s. finls etf	$12,581,000	+13.3%	103,576	+9.3%	2.61%	-1.4%
CSCO	Buy	CISCO SYS INC	$12,564,000	+15.5%	258,256	+2.1%	2.61%	+0.5%
CB	Buy	CHUBB LIMITED	$12,307,000	+6.2%	92,089	+0.9%	2.56%	-7.6%
MDT	Buy	MEDTRONIC PLC	$12,220,000	+15.9%	124,225	+0.9%	2.54%	+0.8%
UNH	Buy	UNITEDHEALTH GROUP INC	$11,804,000	+10.2%	44,368	+1.6%	2.45%	-4.1%
DWDP	Buy	DOWDUPONT INC	$11,602,000	-0.8%	180,412	+1.7%	2.41%	-13.7%
IYW	Buy	ISHARES TRu.s. tech etf	$11,558,000	+9.2%	59,570	+0.4%	2.40%	-4.9%
BLK	Buy	BLACKROCK INC	$11,297,000	-4.5%	23,968	+1.1%	2.35%	-16.9%
BAC	Buy	BANK AMER CORP	$11,157,000	+6.0%	378,714	+1.4%	2.32%	-7.8%
UPS	Buy	UNITED PARCEL SERVICE INC	$9,882,000	+11.0%	84,644	+1.0%	2.05%	-3.4%
XOM	Sell	EXXON MOBIL CORP	$9,444,000	+2.7%	111,085	-0.1%	1.96%	-10.7%
LMT	Buy	LOCKHEED MARTIN CORP	$9,355,000	+22.1%	27,041	+4.2%	1.94%	+6.2%
XLK	Buy	SELECT SECTOR SPDR TRtechnology	$9,163,000	+18.7%	121,635	+9.5%	1.90%	+3.3%
OXY	Buy	OCCIDENTAL PETE CORP DEL	$9,131,000	+3.6%	111,129	+5.5%	1.90%	-9.8%
WMT	Buy	WALMART INC	$9,126,000	+16.3%	97,180	+6.1%	1.90%	+1.2%
GS	Buy	GOLDMAN SACHS GROUP INC	$8,003,000	+2.0%	35,691	+0.3%	1.66%	-11.3%
SPSB	New	SPDR SERIES TRUSTportfolio short	$7,481,000	–	247,881	–	1.55%	–
XLY	Buy	SELECT SECTOR SPDR TRsbi cons discr	$6,601,000	+8.4%	56,313	+1.0%	1.37%	-5.7%
XLV	Buy	SELECT SECTOR SPDR TRsbi healthcare	$6,218,000	+23.9%	65,346	+8.7%	1.29%	+7.8%
IWF	Sell	ISHARES TRrus 1000 grw etf	$6,180,000	+8.1%	39,622	-0.4%	1.28%	-5.9%
IGSB	New	ISHARES TRsh tr crport etf	$5,572,000	–	107,508	–	1.16%	–
XLE	Buy	SELECT SECTOR SPDR TRenergy	$4,674,000	+5.2%	61,716	+5.5%	0.97%	-8.5%
IYH	Sell	ISHARES TRus hlthcare etf	$4,624,000	+13.7%	22,789	-0.1%	0.96%	-1.1%
IWR	Buy	ISHARES TRrus mid cap etf	$4,247,000	+5.7%	19,261	+1.7%	0.88%	-8.0%
IYJ	Sell	ISHARES TRus industrials	$4,125,000	+8.6%	26,422	-0.0%	0.86%	-5.4%
VYM	Sell	VANGUARD WHITEHALL FDS INChigh div yld	$3,939,000	+3.7%	45,225	-1.1%	0.82%	-9.8%
VEA	Sell	VANGUARD TAX MANAGED INTL FDftse dev mkt etf	$3,353,000	-25.3%	77,486	-25.9%	0.70%	-35.0%
BCPC	Buy	BALCHEM CORP	$3,301,000	+28.6%	29,450	+12.6%	0.69%	+11.9%
IJR	Buy	ISHARES TRcore s&p scp etf	$3,184,000	+17.3%	36,498	+12.2%	0.66%	+2.0%
XLI	Buy	SELECT SECTOR SPDR TRsbi int-inds	$3,109,000	+25.0%	39,656	+14.2%	0.65%	+8.8%
XLP	Buy	SELECT SECTOR SPDR TRsbi cons stpls	$3,059,000	+11.3%	56,729	+6.3%	0.64%	-3.2%
VEU	New	VANGUARD INTL EQUITY INDEX Fallwrld ex us	$2,759,000	–	53,000	–	0.57%	–
VO	Buy	VANGUARD INDEX FDSmid cap etf	$2,045,000	+69.4%	12,458	+62.7%	0.42%	+47.6%
VONG	New	VANGUARD SCOTTSDALE FDSvng rus1000grw	$1,742,000	–	10,900	–	0.36%	–
VGK	Sell	VANGUARD INTL EQUITY INDEX Fftse europe etf	$1,713,000	-31.5%	30,476	-31.6%	0.36%	-40.4%
VWO	Sell	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$1,612,000	-35.3%	39,311	-33.4%	0.34%	-43.6%
SLYG	Buy	SPDR SERIES TRUSTs&p 600 smcp grw	$1,606,000	+8.3%	23,794	+1.4%	0.33%	-5.6%
EFA	Buy	ISHARES TRmsci eafe etf	$1,422,000	+141.8%	20,915	+138.2%	0.30%	+110.7%
XLB	Buy	SELECT SECTOR SPDR TRsbi materials	$1,304,000	+5.1%	22,518	+5.4%	0.27%	-8.4%
C	Buy	CITIGROUP INC	$1,191,000	+7.6%	16,600	+0.3%	0.25%	-6.4%
IWD	Sell	ISHARES TRrus 1000 val etf	$1,170,000	+0.8%	9,240	-3.4%	0.24%	-12.3%
AMZN	Sell	AMAZON COM INC	$931,000	+11.8%	465	-5.1%	0.19%	-3.0%
XLU	Buy	SELECT SECTOR SPDR TRsbi int-utils	$799,000	+6.0%	15,185	+4.6%	0.17%	-7.8%
VB	Sell	VANGUARD INDEX FDSsmall cp etf	$767,000	-38.0%	4,717	-40.7%	0.16%	-46.3%
VONV	New	VANGUARD SCOTTSDALE FDSvng rus1000val	$753,000	–	6,800	–	0.16%	–
EEM	New	ISHARES TRmsci emg mkt etf	$639,000	–	14,882	–	0.13%	–
AGG	New	ISHARES TRcore us aggbd et	$405,000	–	3,840	–	0.08%	–
CVX	Buy	CHEVRON CORP NEW	$338,000	+4.0%	2,767	+7.8%	0.07%	-10.3%
PFF	New	ISHARES TRs&p us pfd stk	$332,000	–	8,940	–	0.07%	–
SCHX	New	SCHWAB STRATEGIC TRus lrg cap etf	$304,000	–	4,371	–	0.06%	–
FB	Buy	FACEBOOK INC	$298,000	-11.0%	1,809	+4.9%	0.06%	-22.5%
DIS	Buy	DISNEY WALT CO	$288,000	+12.1%	2,459	+0.2%	0.06%	-1.6%
VZ	New	VERIZON COMMUNICATIONS INC	$287,000	–	5,377	–	0.06%	–
COST	Sell	COSTCO WHSL CORP NEW	$282,000	+2.5%	1,202	-8.6%	0.06%	-10.6%
IWM	Buy	ISHARES TRrussell 2000 etf	$281,000	+6.8%	1,665	+3.8%	0.06%	-7.9%
QQQ	New	INVESCO QQQ TRunit ser 1	$279,000	–	1,504	–	0.06%	–
UGI	Buy	UGI CORP NEW	$271,000	+34.2%	4,876	+25.8%	0.06%	+16.7%
SCHM	New	SCHWAB STRATEGIC TRus mid-cap etf	$249,000	–	4,305	–	0.05%	–
VOX	Buy	VANGUARD WORLD FDS	$251,000	+10.1%	2,891	+7.7%	0.05%	-3.7%
VUG	Sell	VANGUARD INDEX FDSgrowth etf	$244,000	+0.8%	1,515	-6.2%	0.05%	-12.1%
NVDA	Sell	NVIDIA CORP	$220,000	+5.3%	782	-11.2%	0.05%	-8.0%
T	Sell	AT&T INC	$219,000	-3.5%	6,508	-7.8%	0.04%	-16.7%
WTR	Buy	AQUA AMERICA INC	$219,000	+4.8%	5,936	+0.0%	0.04%	-10.0%
	Exit	Wells Fargo & Co Pfd Frac	$0	–	-10,000	–	0.00%	–
XLF	Exit	Select Sector SPDR Financialsbi int-finl	$0	–	-18,008	–	-0.11%	–
VTI	Exit	Vanguard Total Stock Mkttotal stk mkt	$0	–	-8,995	–	-0.30%	–
VV	Exit	Vanguard Large Cap ETFlarge cap etf	$0	–	-19,305	–	-0.58%	–

Q2 2018

			Value		Shares		↓ Weighting
V	New	Visa Inc Cl A	$20,004,000	–	151,034	–	4.78%	–
AAPL	New	Apple Inc	$19,453,000	–	105,092	–	4.64%	–
MSFT	New	Microsoft Corp	$17,974,000	–	182,269	–	4.29%	–
GOOGL	New	Alphabet Inc Cap Stock Cl A	$16,839,000	–	14,912	–	4.02%	–
JPM	New	JPMorgan Chase & Co	$15,327,000	–	147,086	–	3.66%	–
MRK	New	Merck & Co Inc	$14,953,000	–	246,330	–	3.57%	–
HD	New	Home Depot Inc	$13,632,000	–	69,876	–	3.25%	–
PFE	New	Pfizer Inc	$13,529,000	–	372,887	–	3.23%	–
UTX	New	United Technologies Corp	$12,916,000	–	103,306	–	3.08%	–
ORCL	New	Oracle Corp	$12,636,000	–	286,786	–	3.02%	–
MPC	New	Marathon Petroleum Corp	$12,575,000	–	179,240	–	3.00%	–
JNJ	New	Johnson & Johnson	$12,409,000	–	102,268	–	2.96%	–
BLK	New	BlackRock Inc	$11,832,000	–	23,710	–	2.82%	–
DWDP	New	Dowdupont Inc	$11,691,000	–	177,343	–	2.79%	–
CB	New	Chubb Limited	$11,592,000	–	91,265	–	2.77%	–
IYF	New	iShares US Financials ETFu.s. finls etf	$11,102,000	–	94,734	–	2.65%	–
CSCO	New	Cisco Systems Inc	$10,881,000	–	252,867	–	2.60%	–
UNH	New	UnitedHealth Group Inc	$10,716,000	–	43,676	–	2.56%	–
IYW	New	iShares US Tech ETFu.s. tech etf	$10,580,000	–	59,349	–	2.53%	–
MDT	New	Medtronic PLC	$10,542,000	–	123,146	–	2.52%	–
BAC	New	Bank America Corp	$10,525,000	–	373,360	–	2.51%	–
XOM	New	Exxon Mobil Corp	$9,200,000	–	111,200	–	2.20%	–
UPS	New	United Parcel Service Inc Cl B	$8,906,000	–	83,839	–	2.13%	–
OXY	New	Occidental Petroleum Corp	$8,811,000	–	105,296	–	2.10%	–
WMT	New	Wal-Mart Stores Inc	$7,845,000	–	91,596	–	1.87%	–
GS	New	Goldman Sachs Group Inc	$7,846,000	–	35,569	–	1.87%	–
XLK	New	Select Sector SPDR Tr Technolotechnology	$7,717,000	–	111,080	–	1.84%	–
LMT	New	Lockheed Martin Corp	$7,664,000	–	25,943	–	1.83%	–
XLY	New	Select Sector SPDR Cons Discresbi cons discr	$6,092,000	–	55,738	–	1.45%	–
IWF	New	iShares Russell 1000 Growth ETrus 1000 grw etf	$5,719,000	–	39,773	–	1.36%	–
XLV	New	Select Sector SPDR Healthcaresbi healthcare	$5,019,000	–	60,139	–	1.20%	–
VEA	New	Vanguard FTSE Developed Marketftse dev mkt etf	$4,488,000	–	104,612	–	1.07%	–
XLE	New	Select Sector SPDR Energysbi int-energy	$4,443,000	–	58,513	–	1.06%	–
IYH	New	iShares US Healthcare ETFus hlthcare etf	$4,066,000	–	22,817	–	0.97%	–
IWR	New	iShares Rus Mid Cap ETFrus mid-cap etf	$4,019,000	–	18,944	–	0.96%	–
VYM	New	Vanguard High Div Yieldhigh div yld	$3,799,000	–	45,746	–	0.91%	–
IYJ	New	iShares US Industries ETFu.s. inds etf	$3,797,000	–	26,424	–	0.91%	–
XLP	New	Select Sector SPDR Consumer Stsbi cons stpls	$2,749,000	–	53,346	–	0.66%	–
IJR	New	iShares Core S & P Small Capcore s&p scp etf	$2,715,000	–	32,529	–	0.65%	–
BCPC	New	Balchem Corp	$2,567,000	–	26,152	–	0.61%	–
VGK	New	Vanguard FTSE Europe ETFftse europe etf	$2,502,000	–	44,578	–	0.60%	–
VWO	New	Vanguard FTSE Emerg Mkt ETFftse emr mkt etf	$2,490,000	–	59,016	–	0.59%	–
XLI	New	Select Sector SPDR Industrialssbi int-inds	$2,487,000	–	34,725	–	0.59%	–
VV	New	Vanguard Large Cap ETFlarge cap etf	$2,408,000	–	19,305	–	0.58%	–
IYC	New	iShares US Cnsm SV ETFu.s. cnsm sv etf	$2,384,000	–	12,302	–	0.57%	–
SLYG	New	SPDR S&P 600 Small Cap Growths&p 600 smcp grw	$1,483,000	–	23,472	–	0.35%	–
VTI	New	Vanguard Total Stock Mkttotal stk mkt	$1,263,000	–	8,995	–	0.30%	–
XLB	New	Select Sector SPDR Materialssbi materials	$1,241,000	–	21,372	–	0.30%	–
VB	New	Vanguard Small Cap ETFsmall cap etf	$1,238,000	–	7,952	–	0.30%	–
VO	New	Vanguard Mid Cap ETFmid cap etf	$1,207,000	–	7,658	–	0.29%	–
IWD	New	iShares Russell 1000 Val ETFrus 1000 val etf	$1,161,000	–	9,565	–	0.28%	–
C	New	Citigroup Inc	$1,107,000	–	16,548	–	0.26%	–
DWM	New	WisdomTree Intl Equity Fundintl equity fd	$1,051,000	–	19,932	–	0.25%	–
AMZN	New	Amazon.com Inc	$833,000	–	490	–	0.20%	–
XLU	New	Select Sector SPDR Utilitiessbi int-utils	$754,000	–	14,515	–	0.18%	–
IYK	New	iShares US Cnsm Gd ETFu.s. cnsm gd etf	$699,000	–	5,909	–	0.17%	–
ASH	New	Ashland Global Holdings Inc	$649,000	–	8,297	–	0.16%	–
EFA	New	iShares MSCI EAFE ETFmsci eafe etf	$588,000	–	8,781	–	0.14%	–
VVV	New	Valvoline Inc	$530,000	–	24,590	–	0.13%	–
XLF	New	Select Sector SPDR Financialsbi int-finl	$479,000	–	18,008	–	0.11%	–
FB	New	Facebook Inc Cl A	$335,000	–	1,724	–	0.08%	–
CVX	New	Chevron Corp	$325,000	–	2,567	–	0.08%	–
COST	New	Costco Wholesale Corp	$275,000	–	1,315	–	0.07%	–
IWM	New	iShares Russell 2000 ETFrussell 2000 etf	$263,000	–	1,604	–	0.06%	–
DIS	New	Disney Walt Co Disney	$257,000	–	2,454	–	0.06%	–
VUG	New	Vanguard Growth ETFgrowth etf	$242,000	–	1,615	–	0.06%	–
T	New	AT&T Inc	$227,000	–	7,061	–	0.05%	–
VOX	New	Vanguard Telecom ETF	$228,000	–	2,685	–	0.05%	–
CCK	New	Crown Holdings Inc	$212,000	–	4,738	–	0.05%	–
WTR	New	Aqua America Inc	$209,000	–	5,934	–	0.05%	–
NVDA	New	NVIDIA Corp	$209,000	–	881	–	0.05%	–
MMP	New	Magellan Midstream Partners LP	$207,000	–	3,000	–	0.05%	–
UGI	New	UGI Corp	$202,000	–	3,876	–	0.05%	–
	New	Wells Fargo & Co Pfd Frac	$0	–	10,000	–	0.00%	–

Q4 2017

			Value		Shares		↓ Weighting
XKEM	Exit	Xechem Intl Inc	$0	–	-20,000	–	0.00%	–
BDGR	Exit	Black Dragon Resource Cos Inc	$0	–	-10,000	–	0.00%	–
	Exit	Wells Fargo & Co Pfd Frac	$0	–	-10,000	–	0.00%	–
FNCB	Exit	Fncb Bancorp Inc	$0	–	-15,740	–	-0.03%	–
MMP	Exit	Magellan Midstream Partners LP	$0	–	-3,000	–	-0.06%	–
VUG	Exit	Vanguard Growth ETFgrowth etf	$0	–	-1,607	–	-0.06%	–
AMGN	Exit	Amgen Inc	$0	–	-1,230	–	-0.06%	–
IWM	Exit	iShares Russell 2000 ETFrussell 2000 etf	$0	–	-1,696	–	-0.06%	–
DIS	Exit	Disney Walt Co Disney	$0	–	-2,597	–	-0.07%	–
COST	Exit	Costco Wholesale Corp	$0	–	-1,702	–	-0.07%	–
T	Exit	AT&T Inc	$0	–	-7,423	–	-0.08%	–
CCK	Exit	Crown Holdings Inc	$0	–	-4,964	–	-0.08%	–
CVX	Exit	Chevron Corp	$0	–	-2,567	–	-0.08%	–
AMZN	Exit	Amazon.com Inc	$0	–	-452	–	-0.11%	–
EFA	Exit	iShares MSCI EAFE ETFmsci eafe etf	$0	–	-7,331	–	-0.13%	–
SPY	Exit	SPDR S&P 500 ETF Trtr unit	$0	–	-2,057	–	-0.13%	–
FB	Exit	Facebook Inc Cl A	$0	–	-3,080	–	-0.14%	–
XLU	Exit	Select Sector SPDR Utilitiessbi int-utils	$0	–	-13,697	–	-0.19%	–
VOE	Exit	Vanguard Mid Cap Value Index Vmcap vl idxvip	$0	–	-7,366	–	-0.20%	–
XLB	Exit	Select Sector SPDR Materialssbi materials	$0	–	-14,979	–	-0.22%	–
VVV	Exit	Valvoline Inc	$0	–	-41,778	–	-0.25%	–
ASH	Exit	Ashland Global Holdings Inc	$0	–	-15,218	–	-0.26%	–
DWM	Exit	WisdomTree Intl Equity Fundintl equity fd	$0	–	-20,207	–	-0.28%	–
IWD	Exit	iShares Russell 1000 Val ETFrus 1000 val etf	$0	–	-9,680	–	-0.30%	–
VO	Exit	Vanguard Mid Cap ETFmid cap etf	$0	–	-7,895	–	-0.30%	–
C	Exit	Citigroup Inc	$0	–	-16,173	–	-0.30%	–
VB	Exit	Vanguard Small Cap ETFsmall cap etf	$0	–	-8,945	–	-0.33%	–
IYK	Exit	iShares US Cnsm Gd ETFu.s. cnsm gd etf	$0	–	-10,627	–	-0.33%	–
VTI	Exit	Vanguard Total Stock Mkttotal stk mkt	$0	–	-10,495	–	-0.35%	–
IJR	Exit	iShares Core S & P Small Capcore s&p scp etf	$0	–	-20,636	–	-0.40%	–
VWO	Exit	Vanguard FTSE Emerg Mkt ETFftse emr mkt etf	$0	–	-36,566	–	-0.41%	–
VGK	Exit	Vanguard FTSE Europe ETFftse europe etf	$0	–	-27,896	–	-0.42%	–
IYC	Exit	iShares US Cnsm SV ETFu.s. cnsm sv etf	$0	–	-11,998	–	-0.51%	–
XLI	Exit	Select Sector SPDR Industrialssbi int-inds	$0	–	-28,567	–	-0.52%	–
BCPC	Exit	Balchem Corp	$0	–	-26,152	–	-0.55%	–
VYM	Exit	Vanguard High Div Yieldhigh div yld	$0	–	-29,397	–	-0.62%	–
VV	Exit	Vanguard Large Cap ETFlarge cap etf	$0	–	-20,640	–	-0.62%	–
IWR	Exit	iShares Rus Mid Cap ETFrus mid-cap etf	$0	–	-12,308	–	-0.63%	–
XLP	Exit	Select Sector SPDR Consumer Stsbi cons stpls	$0	–	-54,070	–	-0.76%	–
VEA	Exit	Vanguard FTSE Developed Marketftse dev mkt etf	$0	–	-69,387	–	-0.78%	–
XLE	Exit	Select Sector SPDR Energysbi int-energy	$0	–	-47,528	–	-0.84%	–
IYJ	Exit	iShares US Industries ETFu.s. inds etf	$0	–	-24,183	–	-0.87%	–
IWF	Exit	iShares Russell 1000 Growth ETrus 1000 grw etf	$0	–	-29,515	–	-0.96%	–
IYH	Exit	iShares US Healthcare ETFus hlthcare etf	$0	–	-25,384	–	-1.13%	–
XLY	Exit	Select Sector SPDR Cons Discresbi cons discr	$0	–	-52,770	–	-1.23%	–
XLV	Exit	Select Sector SPDR Healthcaresbi healthcare	$0	–	-63,209	–	-1.34%	–
XLK	Exit	Select Sector SPDR Tr Technolotechnology	$0	–	-94,858	–	-1.45%	–
GS	Exit	Goldman Sachs Group Inc	$0	–	-35,235	–	-2.16%	–
XOM	Exit	Exxon Mobil Corp	$0	–	-106,201	–	-2.26%	–
IYW	Exit	iShares US Tech ETFu.s. tech etf	$0	–	-59,628	–	-2.32%	–
MDT	Exit	Medtronic PLC	$0	–	-121,903	–	-2.46%	–
SBUX	Exit	Starbucks Corp	$0	–	-177,649	–	-2.47%	–
PEP	Exit	PepsiCo Inc	$0	–	-87,722	–	-2.53%	–
UPS	Exit	United Parcel Service Inc Cl B	$0	–	-83,899	–	-2.61%	–
CMCSA	Exit	Comcast Corp Cl A	$0	–	-262,659	–	-2.62%	–
MPC	Exit	Marathon Petroleum Corp	$0	–	-182,392	–	-2.65%	–
GE	Exit	General Electric Co	$0	–	-424,443	–	-2.66%	–
IYF	Exit	iShares US Financials ETFu.s. finls etf	$0	–	-93,953	–	-2.73%	–
BLK	Exit	BlackRock Inc	$0	–	-24,201	–	-2.80%	–
ORCL	Exit	Oracle Corp	$0	–	-228,506	–	-2.86%	–
JNJ	Exit	Johnson & Johnson	$0	–	-87,641	–	-2.95%	–
HD	Exit	Home Depot Inc	$0	–	-70,604	–	-2.99%	–
USB	Exit	US Bancorp Del	$0	–	-223,934	–	-3.11%	–
UTX	Exit	United Technologies Corp	$0	–	-103,637	–	-3.12%	–
MSFT	Exit	Microsoft Corp	$0	–	-166,092	–	-3.20%	–
DWDP	Exit	Dowdupont Inc	$0	–	-179,531	–	-3.22%	–
MRK	Exit	Merck & Co Inc	$0	–	-199,179	–	-3.30%	–
GLW	Exit	Corning Inc	$0	–	-434,660	–	-3.37%	–
CB	Exit	Chubb Limited	$0	–	-92,013	–	-3.40%	–
PFE	Exit	Pfizer Inc	$0	–	-380,450	–	-3.52%	–
JPM	Exit	JPMorgan Chase & Co	$0	–	-150,541	–	-3.72%	–
GOOGL	Exit	Alphabet Inc Cap Stock Cl A	$0	–	-15,315	–	-3.86%	–
AAPL	Exit	Apple Inc	$0	–	-107,309	–	-4.28%	–
V	Exit	Visa Inc Cl A	$0	–	-158,029	–	-4.31%	–

Q3 2017

			Value		Shares		↓ Weighting
V	Buy	Visa Inc Cl A	$16,631,000	+14.2%	158,029	+1.8%	4.31%	+16.9%
AAPL	Buy	Apple Inc	$16,539,000	+9.4%	107,309	+2.2%	4.28%	+11.9%
GOOGL	Buy	Alphabet Inc Cap Stock Cl A	$14,913,000	+6.6%	15,315	+1.8%	3.86%	+9.0%
JPM	Buy	JPMorgan Chase & Co	$14,378,000	+6.7%	150,541	+2.1%	3.72%	+9.2%
PFE	Buy	Pfizer Inc	$13,582,000	+8.7%	380,450	+2.2%	3.52%	+11.2%
CB	Buy	Chubb Limited	$13,116,000	-0.7%	92,013	+1.3%	3.40%	+1.6%
GLW	Buy	Corning Inc	$13,005,000	+1.3%	434,660	+1.7%	3.37%	+3.6%
MRK	Buy	Merck & Co Inc	$12,754,000	+1.8%	199,179	+1.9%	3.30%	+4.2%
DWDP	New	Dowdupont Inc	$12,429,000	–	179,531	–	3.22%	–
MSFT	Sell	Microsoft Corp	$12,373,000	+4.5%	166,092	-3.3%	3.20%	+6.9%
UTX	Buy	United Technologies Corp	$12,030,000	-2.9%	103,637	+2.1%	3.12%	-0.6%
USB	Buy	US Bancorp Del	$12,000,000	+5.2%	223,934	+1.9%	3.11%	+7.7%
HD	Buy	Home Depot Inc	$11,548,000	+9.7%	70,604	+2.9%	2.99%	+12.2%
JNJ	Sell	Johnson & Johnson	$11,395,000	-3.4%	87,641	-1.7%	2.95%	-1.1%
ORCL	Buy	Oracle Corp	$11,048,000	-1.6%	228,506	+2.1%	2.86%	+0.7%
BLK	Sell	BlackRock Inc	$10,820,000	-20.7%	24,201	-25.0%	2.80%	-18.8%
IYF	Buy	iShares US Financials ETFu.s. finls etf	$10,534,000	+15.5%	93,953	+10.8%	2.73%	+18.2%
GE	Buy	General Electric Co	$10,263,000	-7.9%	424,443	+2.9%	2.66%	-5.7%
MPC	Buy	Marathon Petroleum Corp	$10,228,000	+10.3%	182,392	+2.9%	2.65%	+12.9%
CMCSA	Sell	Comcast Corp Cl A	$10,107,000	-27.7%	262,659	-26.9%	2.62%	-26.0%
UPS	Sell	United Parcel Service Inc Cl B	$10,076,000	-10.4%	83,899	-17.5%	2.61%	-8.4%
PEP	Sell	PepsiCo Inc	$9,775,000	-20.4%	87,722	-17.5%	2.53%	-18.5%
SBUX	Buy	Starbucks Corp	$9,541,000	-6.8%	177,649	+1.2%	2.47%	-4.6%
MDT	Buy	Medtronic PLC	$9,480,000	-9.5%	121,903	+3.3%	2.46%	-7.4%
IYW	Sell	iShares US Tech ETFu.s. tech etf	$8,940,000	+7.3%	59,628	-0.0%	2.32%	+9.8%
XOM	Buy	Exxon Mobil Corp	$8,706,000	+3.4%	106,201	+1.8%	2.26%	+5.8%
GS	Buy	Goldman Sachs Group Inc	$8,357,000	+7.2%	35,235	+0.3%	2.16%	+9.7%
XLK	Buy	Select Sector SPDR Tr Technolotechnology	$5,606,000	+20.3%	94,858	+11.4%	1.45%	+23.1%
XLV	Buy	Select Sector SPDR Healthcaresbi healthcare	$5,166,000	+15.2%	63,209	+11.7%	1.34%	+17.9%
XLY	Buy	Select Sector SPDR Cons Discresbi cons discr	$4,753,000	+8.7%	52,770	+8.2%	1.23%	+11.2%
IYH	Buy	iShares US Healthcare ETFus hlthcare etf	$4,363,000	+6.8%	25,384	+3.3%	1.13%	+9.3%
IWF	Buy	iShares Russell 1000 Growth ETrus 1000 grw etf	$3,691,000	+26.3%	29,515	+20.2%	0.96%	+29.2%
IYJ	Buy	iShares US Industries ETFu.s. inds etf	$3,351,000	+6.9%	24,183	+1.5%	0.87%	+9.3%
XLE	Buy	Select Sector SPDR Energysbi int-energy	$3,255,000	+71.5%	47,528	+62.6%	0.84%	+75.3%
VEA	Buy	Vanguard FTSE Developed Marketftse dev mkt etf	$3,012,000	+13.2%	69,387	+7.7%	0.78%	+15.7%
XLP	Buy	Select Sector SPDR Consumer Stsbi cons stpls	$2,919,000	+6.6%	54,070	+8.5%	0.76%	+8.9%
IWR	Buy	iShares Rus Mid Cap ETFrus mid-cap etf	$2,426,000	+7.0%	12,308	+4.2%	0.63%	+9.6%
VYM	Buy	Vanguard High Div Yieldhigh div yld	$2,383,000	+15.6%	29,397	+11.5%	0.62%	+18.2%
VV	Sell	Vanguard Large Cap ETFlarge cap etf	$2,382,000	-1.4%	20,640	-5.1%	0.62%	+1.0%
BCPC	Buy	Balchem Corp	$2,126,000	+109.3%	26,152	+100.0%	0.55%	+114.4%
XLI	Buy	Select Sector SPDR Industrialssbi int-inds	$2,028,000	+16.6%	28,567	+11.9%	0.52%	+19.3%
IYC	Sell	iShares US Cnsm SV ETFu.s. cnsm sv etf	$1,968,000	-1.5%	11,998	-1.4%	0.51%	+0.8%
VGK	Buy	Vanguard FTSE Europe ETFftse europe etf	$1,627,000	+11.8%	27,896	+5.7%	0.42%	+14.7%
VWO	Sell	Vanguard FTSE Emerg Mkt ETFftse emr mkt etf	$1,593,000	-29.6%	36,566	-34.1%	0.41%	-27.9%
IJR	Buy	iShares Core S & P Small Capcore s&p scp etf	$1,532,000	+11.1%	20,636	+4.9%	0.40%	+13.8%
VTI	Sell	Vanguard Total Stock Mkttotal stk mkt	$1,359,000	-10.0%	10,495	-13.5%	0.35%	-7.9%
IYK	Sell	iShares US Cnsm Gd ETFu.s. cnsm gd etf	$1,282,000	-3.1%	10,627	-2.2%	0.33%	-0.9%
VB	Sell	Vanguard Small Cap ETFsmall cap etf	$1,264,000	-1.6%	8,945	-5.6%	0.33%	+0.6%
C	Buy	Citigroup Inc	$1,176,000	+8.7%	16,173	+0.0%	0.30%	+11.3%
VO	Buy	Vanguard Mid Cap ETFmid cap etf	$1,161,000	+120.3%	7,895	+113.4%	0.30%	+126.3%
IWD	Sell	iShares Russell 1000 Val ETFrus 1000 val etf	$1,147,000	-4.7%	9,680	-6.4%	0.30%	-2.6%
DWM	Buy	WisdomTree Intl Equity Fundintl equity fd	$1,100,000	+21.4%	20,207	+15.8%	0.28%	+24.5%
XLB	Buy	Select Sector SPDR Materialssbi materials	$851,000	+10.5%	14,979	+4.7%	0.22%	+12.8%
VOE	Buy	Vanguard Mid Cap Value Index Vmcap vl idxvip	$778,000	+9.7%	7,366	+6.8%	0.20%	+12.2%
XLU	Buy	Select Sector SPDR Utilitiessbi int-utils	$726,000	+6.5%	13,697	+4.4%	0.19%	+8.7%
FB	Buy	Facebook Inc Cl A	$526,000	+72.5%	3,080	+52.6%	0.14%	+76.6%
SPY	Sell	SPDR S&P 500 ETF Trtr unit	$517,000	-11.2%	2,057	-14.5%	0.13%	-8.8%
EFA	Buy	iShares MSCI EAFE ETFmsci eafe etf	$502,000	+11.8%	7,331	+6.5%	0.13%	+14.0%
AMZN	Sell	Amazon.com Inc	$435,000	-20.0%	452	-19.6%	0.11%	-18.1%
T	Buy	AT&T Inc	$291,000	+11.1%	7,423	+6.7%	0.08%	+13.6%
COST	Buy	Costco Wholesale Corp	$280,000	+17.2%	1,702	+13.7%	0.07%	+19.7%
DIS	Buy	Disney Walt Co Disney	$256,000	+7.6%	2,597	+15.8%	0.07%	+10.0%
IWM	Buy	iShares Russell 2000 ETFrussell 2000 etf	$251,000	+10.6%	1,696	+5.2%	0.06%	+14.0%
VUG	Buy	Vanguard Growth ETFgrowth etf	$213,000	+4.4%	1,607	+0.2%	0.06%	+5.8%
BDGR	New	Black Dragon Resource Cos Inc	$0	–	10,000	–	0.00%	–
XKEM	New	Xechem Intl Inc	$0	–	20,000	–	0.00%	–
KO	Exit	Coca-Cola Co	$0	–	-4,957	–	-0.06%	–
DES	Exit	WisdomTree Small Cap Divsmallcap divid	$0	–	-5,005	–	-0.10%	–
PG	Exit	Procter And Gamble Co	$0	–	-9,192	–	-0.20%	–
DVY	Exit	iShares Select Div ETFselect divid etf	$0	–	-9,956	–	-0.23%	–
DON	Exit	WisdomTree Mid Cap Div Fundmidcap divi fd	$0	–	-10,846	–	-0.27%	–
IYE	Exit	iShares US Energyu.s. energy etf	$0	–	-47,538	–	-0.43%	–
DOW	Exit	Dow Chemical Co	$0	–	-174,718	–	-2.79%	–
INTC	Exit	Intel Corp	$0	–	-349,749	–	-2.99%	–

Q2 2017

			Value		Shares		↓ Weighting
AAPL	New	Apple Inc	$15,120,000	–	104,983	–	3.83%	–
V	New	Visa Inc Cl A	$14,562,000	–	155,273	–	3.69%	–
GOOGL	New	Alphabet Inc Cap Stock Cl A	$13,993,000	–	15,051	–	3.54%	–
CMCSA	New	Comcast Corp Cl A	$13,977,000	–	359,109	–	3.54%	–
BLK	New	BlackRock Inc	$13,637,000	–	32,284	–	3.45%	–
JPM	New	JPMorgan Chase & Co	$13,473,000	–	147,412	–	3.41%	–
CB	New	Chubb Limited	$13,204,000	–	90,826	–	3.34%	–
GLW	New	Corning Inc	$12,842,000	–	427,347	–	3.25%	–
MRK	New	Merck & Co Inc	$12,523,000	–	195,395	–	3.17%	–
PFE	New	Pfizer Inc	$12,500,000	–	372,131	–	3.16%	–
UTX	New	United Technologies Corp	$12,390,000	–	101,462	–	3.14%	–
PEP	New	PepsiCo Inc	$12,273,000	–	106,271	–	3.11%	–
MSFT	New	Microsoft Corp	$11,843,000	–	171,815	–	3.00%	–
INTC	New	Intel Corp	$11,801,000	–	349,749	–	2.99%	–
JNJ	New	Johnson & Johnson	$11,792,000	–	89,136	–	2.99%	–
USB	New	US Bancorp Del	$11,406,000	–	219,685	–	2.89%	–
UPS	New	United Parcel Service Inc Cl B	$11,249,000	–	101,719	–	2.85%	–
ORCL	New	Oracle Corp	$11,226,000	–	223,885	–	2.84%	–
GE	New	General Electric Co	$11,142,000	–	412,502	–	2.82%	–
DOW	New	Dow Chemical Co	$11,019,000	–	174,718	–	2.79%	–
HD	New	Home Depot Inc	$10,529,000	–	68,636	–	2.67%	–
MDT	New	Medtronic PLC	$10,477,000	–	118,051	–	2.65%	–
SBUX	New	Starbucks Corp	$10,234,000	–	175,508	–	2.59%	–
MPC	New	Marathon Petroleum Corp	$9,273,000	–	177,195	–	2.35%	–
IYF	New	iShares US Financials ETFu.s. finls etf	$9,118,000	–	84,806	–	2.31%	–
XOM	New	Exxon Mobil Corp	$8,420,000	–	104,294	–	2.13%	–
IYW	New	iShares US Tech ETFu.s. tech etf	$8,332,000	–	59,634	–	2.11%	–
GS	New	Goldman Sachs Group Inc	$7,793,000	–	35,120	–	1.97%	–
XLK	New	Select Sector SPDR Tr Technolotechnology	$4,660,000	–	85,163	–	1.18%	–
XLV	New	Select Sector SPDR Healthcaresbi healthcare	$4,484,000	–	56,592	–	1.14%	–
XLY	New	Select Sector SPDR Cons Discresbi cons discr	$4,371,000	–	48,764	–	1.11%	–
IYH	New	iShares US Healthcare ETFus hlthcare etf	$4,084,000	–	24,563	–	1.03%	–
IYJ	New	iShares US Industries ETFu.s. inds etf	$3,134,000	–	23,835	–	0.79%	–
IWF	New	iShares Russell 1000 Growth ETrus 1000 grw etf	$2,923,000	–	24,562	–	0.74%	–
XLP	New	Select Sector SPDR Consumer Stsbi cons stpls	$2,739,000	–	49,857	–	0.69%	–
VEA	New	Vanguard FTSE Developed Marketftse dev mkt etf	$2,661,000	–	64,405	–	0.67%	–
VV	New	Vanguard Large Cap ETFlarge cap etf	$2,415,000	–	21,750	–	0.61%	–
IWR	New	iShares Rus Mid Cap ETFrus mid-cap etf	$2,268,000	–	11,807	–	0.57%	–
VWO	New	Vanguard FTSE Emerg Mkt ETFftse emr mkt etf	$2,264,000	–	55,453	–	0.57%	–
VYM	New	Vanguard High Div Yieldhigh div yld	$2,061,000	–	26,375	–	0.52%	–
IYC	New	iShares US Cnsm SV ETFu.s. cnsm sv etf	$1,997,000	–	12,168	–	0.51%	–
XLE	New	Select Sector SPDR Energysbi int-energy	$1,898,000	–	29,236	–	0.48%	–
XLI	New	Select Sector SPDR Industrialssbi int-inds	$1,739,000	–	25,529	–	0.44%	–
IYE	New	iShares US Energyu.s. energy etf	$1,688,000	–	47,538	–	0.43%	–
VTI	New	Vanguard Total Stock Mkttotal stk mkt	$1,510,000	–	12,135	–	0.38%	–
VGK	New	Vanguard FTSE Europe ETFftse europe etf	$1,455,000	–	26,385	–	0.37%	–
IJR	New	iShares Core S & P Small Capcore s&p scp etf	$1,379,000	–	19,666	–	0.35%	–
IYK	New	iShares US Cnsm Gd ETFu.s. cnsm gd etf	$1,323,000	–	10,865	–	0.34%	–
VB	New	Vanguard Small Cap ETFsmall cap etf	$1,284,000	–	9,475	–	0.32%	–
IWD	New	iShares Russell 1000 Val ETFrus 1000 val etf	$1,204,000	–	10,340	–	0.30%	–
C	New	Citigroup Inc	$1,082,000	–	16,172	–	0.27%	–
DON	New	WisdomTree Mid Cap Div Fundmidcap divi fd	$1,060,000	–	10,846	–	0.27%	–
BCPC	New	Balchem Corp	$1,016,000	–	13,076	–	0.26%	–
ASH	New	Ashland Global Holdings Inc	$1,003,000	–	15,218	–	0.25%	–
VVV	New	Valvoline Inc	$991,000	–	41,778	–	0.25%	–
DVY	New	iShares Select Div ETFselect divid etf	$918,000	–	9,956	–	0.23%	–
DWM	New	WisdomTree Intl Equity Fundintl equity fd	$906,000	–	17,457	–	0.23%	–
PG	New	Procter And Gamble Co	$801,000	–	9,192	–	0.20%	–
XLB	New	Select Sector SPDR Materialssbi materials	$770,000	–	14,302	–	0.20%	–
VOE	New	Vanguard Mid Cap Value Index Vmcap vl idxvip	$709,000	–	6,895	–	0.18%	–
XLU	New	Select Sector SPDR Utilitiessbi int-utils	$682,000	–	13,125	–	0.17%	–
SPY	New	SPDR S&P 500 ETF Trtr unit	$582,000	–	2,407	–	0.15%	–
AMZN	New	Amazon.com Inc	$544,000	–	562	–	0.14%	–
VO	New	Vanguard Mid Cap ETFmid cap etf	$527,000	–	3,700	–	0.13%	–
EFA	New	iShares MSCI EAFE ETFmsci eafe etf	$449,000	–	6,881	–	0.11%	–
DES	New	WisdomTree Small Cap Divsmallcap divid	$403,000	–	5,005	–	0.10%	–
FB	New	Facebook Inc Cl A	$305,000	–	2,018	–	0.08%	–
CCK	New	Crown Holdings Inc	$296,000	–	4,964	–	0.08%	–
CVX	New	Chevron Corp	$268,000	–	2,567	–	0.07%	–
T	New	AT&T Inc	$262,000	–	6,955	–	0.07%	–
COST	New	Costco Wholesale Corp	$239,000	–	1,497	–	0.06%	–
DIS	New	Disney Walt Co Disney	$238,000	–	2,242	–	0.06%	–
IWM	New	iShares Russell 2000 ETFrussell 2000 etf	$227,000	–	1,612	–	0.06%	–
KO	New	Coca-Cola Co	$222,000	–	4,957	–	0.06%	–
MMP	New	Magellan Midstream Partners LP	$214,000	–	3,000	–	0.05%	–
AMGN	New	Amgen Inc	$212,000	–	1,230	–	0.05%	–
VUG	New	Vanguard Growth ETFgrowth etf	$204,000	–	1,604	–	0.05%	–
FNCB	New	Fncb Bancorp Inc	$123,000	–	15,740	–	0.03%	–
	New	Wells Fargo & Co Pfd Frac	$0	–	10,000	–	0.00%	–

Q4 2016

			Value		Shares		↓ Weighting
	Exit	Wells Fargo & Co Pfd Frac	$0	–	-10,000	–	0.00%	–
FNCB	Exit	First National Community Banco	$0	–	-15,740	–	-0.02%	–
AMGN	Exit	Amgen Inc	$0	–	-1,215	–	-0.06%	–
CVX	Exit	Chevron Corp	$0	–	-1,950	–	-0.06%	–
DIS	Exit	Disney Walt Co Disney	$0	–	-2,241	–	-0.06%	–
KO	Exit	Coca-Cola Co	$0	–	-4,948	–	-0.06%	–
MMP	Exit	Magellan Midstream Partners LP	$0	–	-3,000	–	-0.06%	–
T	Exit	AT&T Inc	$0	–	-5,674	–	-0.07%	–
EFA	Exit	iShares Tr MSCI EAFE Indexmsci eafe etf	$0	–	-4,100	–	-0.07%	–
CCK	Exit	Crown Holdings Inc	$0	–	-5,697	–	-0.10%	–
LNC	Exit	Lincoln Natl Corp Ind	$0	–	-7,632	–	-0.10%	–
DES	Exit	WisdomTree Trust Small Cap Divsmallcap divid	$0	–	-5,005	–	-0.11%	–
AMZN	Exit	Amazon.com Inc	$0	–	-450	–	-0.11%	–
VBR	Exit	Vanguard Index Funds Small Capsm cp val etf	$0	–	-4,254	–	-0.14%	–
VO	Exit	Vanguard Index Funds Mid Cap Emid cap etf	$0	–	-3,700	–	-0.14%	–
VGK	Exit	Vanguard European Stock Indexftse europe etf	$0	–	-10,292	–	-0.15%	–
VNQ	Exit	Vanguard Index Funds REIT ETFreit etf	$0	–	-6,263	–	-0.16%	–
JNJ	Exit	Johnson & Johnson	$0	–	-4,824	–	-0.17%	–
XLU	Exit	Select Sector SPDR Tr SBI Utilsbi int-utils	$0	–	-11,791	–	-0.17%	–
XLB	Exit	Select Sector SPDR Tr SBI Matesbi materials	$0	–	-12,981	–	-0.18%	–
SPY	Exit	SPDR S&P 500 Index ETFtr unit	$0	–	-3,447	–	-0.22%	–
IJR	Exit	iShares Tr S&P Small Cap 600core s&p scp etf	$0	–	-6,047	–	-0.22%	–
VWO	Exit	Vanguard Emerg Mkt ETFftse emr mkt etf	$0	–	-20,500	–	-0.22%	–
MSFT	Exit	Microsoft Corp	$0	–	-13,416	–	-0.22%	–
C	Exit	Citigroup Inc	$0	–	-16,519	–	-0.23%	–
PG	Exit	Procter & Gamble Co	$0	–	-9,062	–	-0.24%	–
DWM	Exit	WisdomTree Trust DEFA Funddefa fd	$0	–	-17,457	–	-0.24%	–
DVY	Exit	iShares Tr DJ Select Div Indexselect divid etf	$0	–	-10,250	–	-0.26%	–
VOE	Exit	Vanguard Index Funds Mid Cap Vmcap vl idxvip	$0	–	-9,433	–	-0.26%	–
IYZ	Exit	iShares Tr DJ US Telecom	$0	–	-27,657	–	-0.26%	–
DON	Exit	WisdomTree Trust Mid Cap Div Fmidcap divi fd	$0	–	-10,846	–	-0.29%	–
BCPC	Exit	Balchem Corp	$0	–	-13,076	–	-0.30%	–
IWD	Exit	iShares Tr Russell 1000 Valuerus 1000 val etf	$0	–	-10,340	–	-0.32%	–
VB	Exit	Vanguard Index Funds Small Capsmall cap etf	$0	–	-9,475	–	-0.34%	–
XLV	Exit	Select Sector SPDR Healthcaresbi healthcare	$0	–	-16,728	–	-0.35%	–
VTI	Exit	Vanguard Index Funds Stock Mkttotal stk mkt	$0	–	-12,135	–	-0.39%	–
IWR	Exit	iShares Tr Russell Mid Caprus mid-cap etf	$0	–	-8,002	–	-0.41%	–
VYM	Exit	Vanguard Whitehall Funds Inc Hhigh div yld	$0	–	-19,621	–	-0.41%	–
VEA	Exit	Vanguard FTSE Developed Marketftse dev mkt etf	$0	–	-38,189	–	-0.42%	–
ASH	Exit	Ashland Global Holdings Inc	$0	–	-13,098	–	-0.44%	–
IYK	Exit	iShares Tr Consumer Goods Indeu.s. cnsm gd etf	$0	–	-13,386	–	-0.44%	–
IYC	Exit	iShares Tr Consumer Services Iu.s. cnsm sv etf	$0	–	-13,325	–	-0.57%	–
VV	Exit	Vanguard Index Funds Large Caplarge cap etf	$0	–	-21,750	–	-0.63%	–
XLP	Exit	Select Sector SPDR Tr SBI Conssbi cons stpls	$0	–	-46,594	–	-0.72%	–
IYE	Exit	iShares Tr DJ US Energyu.s. energy etf	$0	–	-74,461	–	-0.85%	–
IWF	Exit	iShares Tr Russell 1000 Growthrus 1000 grw etf	$0	–	-29,771	–	-0.90%	–
XLY	Exit	Select Sector SPDR Tr SBI Conssbi cons discr	$0	–	-45,664	–	-1.07%	–
IYJ	Exit	iShares Tr Index DJ US Industru.s. inds etf	$0	–	-33,587	–	-1.12%	–
GS	Exit	Goldman Sachs Group Inc	$0	–	-34,602	–	-1.63%	–
IYH	Exit	iShares Tr DJ US Healthcareus hlthcare etf	$0	–	-37,481	–	-1.64%	–
IYF	Exit	iShares Tr DJ US Financial Secu.s. finls etf	$0	–	-77,306	–	-2.03%	–
MPC	Exit	Marathon Petroleum Corp	$0	–	-173,086	–	-2.05%	–
HD	Exit	Home Depot Inc	$0	–	-66,574	–	-2.50%	–
ORCL	Exit	Oracle Corp	$0	–	-219,632	–	-2.52%	–
XOM	Exit	Exxon Mobil Corp	$0	–	-99,682	–	-2.54%	–
DOW	Exit	Dow Chemical Co	$0	–	-174,185	–	-2.63%	–
USB	Exit	US Bancorp Del	$0	–	-221,436	–	-2.77%	–
MDT	Exit	Medtronic PLC	$0	–	-114,096	–	-2.88%	–
IYW	Exit	iShares Tr Index DJ US Tech Seu.s. tech etf	$0	–	-84,639	–	-2.94%	–
CVS	Exit	CVS Health Corporation	$0	–	-115,061	–	-2.99%	–
UTX	Exit	United Technologies Corp	$0	–	-100,785	–	-2.99%	–
VZ	Exit	Verizon Communications Inc	$0	–	-197,348	–	-2.99%	–
UPS	Exit	United Parcel Service Inc Cl B	$0	–	-100,465	–	-3.20%	–
CB	Exit	Chubb Limited	$0	–	-91,908	–	-3.37%	–
PEP	Exit	PepsiCo Inc	$0	–	-106,487	–	-3.38%	–
BLK	Exit	BlackRock Inc	$0	–	-32,118	–	-3.40%	–
GE	Exit	General Electric Co	$0	–	-401,347	–	-3.47%	–
GLW	Exit	Corning Inc	$0	–	-505,206	–	-3.48%	–
CMCSA	Exit	Comcast Corp Cl A	$0	–	-180,463	–	-3.49%	–
GOOGL	Exit	Alphabet Inc Cap Stock Cl A	$0	–	-14,920	–	-3.50%	–
JPM	Exit	JPMorgan Chase & Co	$0	–	-180,975	–	-3.51%	–
MRK	Exit	Merck & Co Inc	$0	–	-196,727	–	-3.58%	–
PFE	Exit	Pfizer Inc	$0	–	-368,881	–	-3.64%	–
INTC	Exit	Intel Corp	$0	–	-356,942	–	-3.93%	–
AAPL	Exit	Apple Inc	$0	–	-128,366	–	-4.23%	–
V	Exit	Visa Inc Cl A	$0	–	-183,676	–	-4.43%	–

Q3 2016

			Value		Shares		↓ Weighting
V	Sell	Visa Inc Cl A	$15,190,000	+10.1%	183,676	-1.3%	4.43%	+7.6%
AAPL	Sell	Apple Inc	$14,512,000	+17.3%	128,366	-0.8%	4.23%	+14.6%
INTC	Sell	Intel Corp	$13,475,000	+13.3%	356,942	-1.5%	3.93%	+10.7%
PFE	Sell	Pfizer Inc	$12,494,000	-4.9%	368,881	-1.2%	3.64%	-7.1%
MRK	Sell	Merck & Co Inc	$12,278,000	+7.2%	196,727	-1.1%	3.58%	+4.7%
JPM	Sell	JPMorgan Chase & Co	$12,051,000	+6.4%	180,975	-0.7%	3.51%	+3.9%
GOOGL	Sell	Alphabet Inc Cap Stock Cl A	$11,997,000	+13.1%	14,920	-1.0%	3.50%	+10.5%
CMCSA	Sell	Comcast Corp Cl A	$11,972,000	+0.3%	180,463	-1.4%	3.49%	-2.0%
GLW	Sell	Corning Inc	$11,948,000	+14.9%	505,206	-0.5%	3.48%	+12.2%
GE	Sell	General Electric Co	$11,888,000	-6.7%	401,347	-0.8%	3.47%	-8.8%
BLK	Sell	BlackRock Inc	$11,642,000	+4.4%	32,118	-1.3%	3.40%	+2.0%
PEP	Sell	PepsiCo Inc	$11,583,000	+1.6%	106,487	-1.1%	3.38%	-0.8%
CB	Sell	Chubb Limited	$11,548,000	-5.2%	91,908	-1.4%	3.37%	-7.4%
UPS	Sell	United Parcel Service Inc Cl B	$10,987,000	+0.8%	100,465	-0.7%	3.20%	-1.5%
VZ	Buy	Verizon Communications Inc	$10,258,000	-6.3%	197,348	+0.7%	2.99%	-8.4%
CVS	Buy	CVS Health Corporation	$10,239,000	+23.2%	115,061	+32.6%	2.99%	+20.4%
UTX	Sell	United Technologies Corp	$10,240,000	-1.3%	100,785	-0.3%	2.99%	-3.5%
IYW	Buy	iShares Tr Index DJ US Tech Seu.s. tech etf	$10,072,000	+17.0%	84,639	+3.5%	2.94%	+14.3%
MDT	Buy	Medtronic PLC	$9,858,000	+0.7%	114,096	+1.1%	2.88%	-1.6%
USB	Sell	US Bancorp Del	$9,497,000	+6.1%	221,436	-0.2%	2.77%	+3.7%
DOW	Buy	Dow Chemical Co	$9,028,000	+4.5%	174,185	+0.2%	2.63%	+2.1%
XOM	Buy	Exxon Mobil Corp	$8,700,000	-3.7%	99,682	+3.4%	2.54%	-5.9%
ORCL	Sell	Oracle Corp	$8,627,000	-4.1%	219,632	-0.0%	2.52%	-6.3%
HD	Buy	Home Depot Inc	$8,567,000	+1.6%	66,574	+0.9%	2.50%	-0.7%
MPC	Buy	Marathon Petroleum Corp	$7,026,000	+7.9%	173,086	+0.9%	2.05%	+5.4%
IYF	Buy	iShares Tr DJ US Financial Secu.s. finls etf	$6,958,000	+8.2%	77,306	+3.3%	2.03%	+5.7%
IYH	Buy	iShares Tr DJ US Healthcareus hlthcare etf	$5,630,000	+10.7%	37,481	+9.3%	1.64%	+8.1%
GS	Buy	Goldman Sachs Group Inc	$5,580,000	+8.5%	34,602	+0.0%	1.63%	+6.0%
IYJ	Buy	iShares Tr Index DJ US Industru.s. inds etf	$3,841,000	+16.3%	33,587	+11.8%	1.12%	+13.6%
XLY	Buy	Select Sector SPDR Tr SBI Conssbi cons discr	$3,655,000	+3.1%	45,664	+0.6%	1.07%	+0.8%
IWF	Buy	iShares Tr Russell 1000 Growthrus 1000 grw etf	$3,101,000	+51.1%	29,771	+45.6%	0.90%	+47.7%
IYE	Buy	iShares Tr DJ US Energyu.s. energy etf	$2,904,000	+5.5%	74,461	+3.8%	0.85%	+3.2%
XLP	Sell	Select Sector SPDR Tr SBI Conssbi cons stpls	$2,479,000	-13.7%	46,594	-10.5%	0.72%	-15.7%
IYC	Buy	iShares Tr Consumer Services Iu.s. cnsm sv etf	$1,960,000	+11.7%	13,325	+9.0%	0.57%	+9.2%
IYK	Sell	iShares Tr Consumer Goods Indeu.s. cnsm gd etf	$1,525,000	-6.2%	13,386	-5.0%	0.44%	-8.2%
ASH	New	Ashland Global Holdings Inc	$1,519,000	–	13,098	–	0.44%	–
VEA	Buy	Vanguard FTSE Developed Marketftse dev mkt etf	$1,429,000	+61.3%	38,189	+52.4%	0.42%	+58.0%
VYM	Buy	Vanguard Whitehall Funds Inc Hhigh div yld	$1,415,000	+3.1%	19,621	+2.1%	0.41%	+0.7%
IWR	Buy	iShares Tr Russell Mid Caprus mid-cap etf	$1,395,000	+25.9%	8,002	+21.4%	0.41%	+23.0%
XLV	Buy	Select Sector SPDR Healthcaresbi healthcare	$1,206,000	+5.3%	16,728	+4.8%	0.35%	+2.9%
IWD	Sell	iShares Tr Russell 1000 Valuerus 1000 val etf	$1,092,000	+0.5%	10,340	-1.8%	0.32%	-1.9%
DON	Sell	WisdomTree Trust Mid Cap Div Fmidcap divi fd	$986,000	-0.7%	10,846	-2.3%	0.29%	-2.7%
IYZ	Buy	iShares Tr DJ US Telecom	$891,000	+0.5%	27,657	+3.8%	0.26%	-1.9%
VOE	Buy	Vanguard Index Funds Mid Cap Vmcap vl idxvip	$883,000	+90.3%	9,433	+81.1%	0.26%	+86.2%
DVY	Sell	iShares Tr DJ Select Div Indexselect divid etf	$878,000	-1.5%	10,250	-1.9%	0.26%	-3.8%
DWM	Sell	WisdomTree Trust DEFA Funddefa fd	$822,000	+3.3%	17,457	-1.9%	0.24%	+0.8%
PG	Sell	Procter & Gamble Co	$813,000	+5.7%	9,062	-0.3%	0.24%	+3.0%
C	Buy	Citigroup Inc	$780,000	+11.4%	16,519	+0.0%	0.23%	+8.6%
MSFT	Sell	Microsoft Corp	$773,000	+10.9%	13,416	-1.4%	0.22%	+8.2%
IJR	Buy	iShares Tr S&P Small Cap 600core s&p scp etf	$751,000	+60.5%	6,047	+50.2%	0.22%	+56.4%
SPY	Sell	SPDR S&P 500 Index ETFtr unit	$746,000	+1.1%	3,447	-2.2%	0.22%	-0.9%
XLB	Buy	Select Sector SPDR Tr SBI Matesbi materials	$620,000	+6.9%	12,981	+3.7%	0.18%	+4.6%
XLU	Buy	Select Sector SPDR Tr SBI Utilsbi int-utils	$578,000	-3.0%	11,791	+3.7%	0.17%	-5.1%
JNJ	Sell	Johnson & Johnson	$570,000	-3.6%	4,824	-1.0%	0.17%	-5.7%
VNQ	Buy	Vanguard Index Funds REIT ETFreit etf	$543,000	+4.2%	6,263	+6.6%	0.16%	+1.3%
VGK	New	Vanguard European Stock Indexftse europe etf	$502,000	–	10,292	–	0.15%	–
VBR	New	Vanguard Index Funds Small Capsm cp val etf	$471,000	–	4,254	–	0.14%	–
DES	Sell	WisdomTree Trust Small Cap Divsmallcap divid	$376,000	+3.3%	5,005	-1.6%	0.11%	+0.9%
AMZN	Buy	Amazon.com Inc	$377,000	+55.1%	450	+32.4%	0.11%	+50.7%
CCK	Sell	Crown Holdings Inc	$325,000	+4.5%	5,697	-7.1%	0.10%	+2.2%
T	Sell	AT&T Inc	$230,000	-10.5%	5,674	-4.4%	0.07%	-13.0%
DIS	Sell	Disney Walt Co Disney	$208,000	-9.6%	2,241	-4.5%	0.06%	-11.6%
KO	Buy	Coca-Cola Co	$209,000	-6.7%	4,948	+0.1%	0.06%	-9.0%
AMGN	New	Amgen Inc	$203,000	–	1,215	–	0.06%	–
KRE	Exit	SPDR Series Trust KBW Regionals&p regl bkg	$0	–	-10,749	–	-0.12%	–
XHB	Exit	SPDR Series Trust S&P Homebuils&p homebuild	$0	–	-12,775	–	-0.13%	–
HEDJ	Exit	WisdomTree Europe Hedged Equiteurope hedged eq	$0	–	-8,615	–	-0.13%	–
ASH	Exit	Ashland Inc	$0	–	-13,098	–	-0.45%	–
BA	Exit	Boeing Co	$0	–	-72,282	–	-2.80%	–

Q2 2016

			Value		Shares		↓ Weighting
V	New	Visa Inc Cl A	$13,801,000	–	186,071	–	4.12%	–
PFE	New	Pfizer Inc	$13,141,000	–	373,236	–	3.92%	–
GE	New	General Electric Co	$12,742,000	–	404,754	–	3.80%	–
AAPL	New	Apple Inc	$12,376,000	–	129,453	–	3.69%	–
CB	New	Chubb Limited	$12,182,000	–	93,195	–	3.64%	–
CMCSA	New	Comcast Corp Cl A	$11,936,000	–	183,098	–	3.56%	–
INTC	New	Intel Corp	$11,891,000	–	362,544	–	3.55%	–
MRK	New	Merck & Co Inc	$11,457,000	–	198,876	–	3.42%	–
PEP	New	PepsiCo Inc	$11,403,000	–	107,643	–	3.40%	–
JPM	New	JPMorgan Chase & Co	$11,329,000	–	182,323	–	3.38%	–
BLK	New	BlackRock Inc	$11,147,000	–	32,543	–	3.33%	–
VZ	New	Verizon Communications Inc	$10,946,000	–	196,020	–	3.27%	–
UPS	New	United Parcel Service Inc Cl B	$10,898,000	–	101,174	–	3.25%	–
GOOGL	New	Alphabet Inc Cap Stock Cl A	$10,603,000	–	15,070	–	3.16%	–
GLW	New	Corning Inc	$10,399,000	–	507,803	–	3.10%	–
UTX	New	United Technologies Corp	$10,370,000	–	101,120	–	3.10%	–
MDT	New	Medtronic PLC	$9,791,000	–	112,839	–	2.92%	–
BA	New	Boeing Co	$9,387,000	–	72,282	–	2.80%	–
XOM	New	Exxon Mobil Corp	$9,035,000	–	96,389	–	2.70%	–
ORCL	New	Oracle Corp	$8,992,000	–	219,680	–	2.68%	–
USB	New	US Bancorp Del	$8,949,000	–	221,905	–	2.67%	–
DOW	New	Dow Chemical Co	$8,639,000	–	173,790	–	2.58%	–
IYW	New	iShares Tr Index DJ US Tech Seu.s. tech etf	$8,611,000	–	81,793	–	2.57%	–
HD	New	Home Depot Inc	$8,429,000	–	66,011	–	2.52%	–
CVS	New	CVS Health Corporation	$8,308,000	–	86,772	–	2.48%	–
MPC	New	Marathon Petroleum Corp	$6,513,000	–	171,587	–	1.94%	–
IYF	New	iShares Tr DJ US Financial Secu.s. finls etf	$6,431,000	–	74,827	–	1.92%	–
GS	New	Goldman Sachs Group Inc	$5,141,000	–	34,601	–	1.54%	–
IYH	New	iShares Tr DJ US Healthcareus hlthcare etf	$5,088,000	–	34,305	–	1.52%	–
XLY	New	Select Sector SPDR Tr SBI Conssbi cons discr	$3,545,000	–	45,408	–	1.06%	–
IYJ	New	iShares Tr Index DJ US Industru.s. inds etf	$3,304,000	–	30,054	–	0.99%	–
XLP	New	Select Sector SPDR Tr SBI Conssbi cons stpls	$2,873,000	–	52,087	–	0.86%	–
IYE	New	iShares Tr DJ US Energyu.s. energy etf	$2,752,000	–	71,745	–	0.82%	–
VV	New	Vanguard Index Funds Large Caplarge cap etf	$2,085,000	–	21,750	–	0.62%	–
IWF	New	iShares Tr Russell 1000 Growthrus 1000 grw etf	$2,052,000	–	20,451	–	0.61%	–
IYC	New	iShares Tr Consumer Services Iu.s. cnsm sv etf	$1,754,000	–	12,228	–	0.52%	–
IYK	New	iShares Tr Consumer Goods Indeu.s. cnsm gd etf	$1,625,000	–	14,086	–	0.48%	–
ASH	New	Ashland Inc	$1,503,000	–	13,098	–	0.45%	–
VYM	New	Vanguard Whitehall Funds Inc Hhigh div yld	$1,373,000	–	19,219	–	0.41%	–
VTI	New	Vanguard Index Funds Stock Mkttotal stk mkt	$1,300,000	–	12,135	–	0.39%	–
XLV	New	Select Sector SPDR Healthcaresbi healthcare	$1,145,000	–	15,969	–	0.34%	–
IWR	New	iShares Tr Russell Mid Caprus mid-cap etf	$1,108,000	–	6,590	–	0.33%	–
VB	New	Vanguard Index Funds Small Capsmall cap etf	$1,096,000	–	9,475	–	0.33%	–
IWD	New	iShares Tr Russell 1000 Valuerus 1000 val etf	$1,087,000	–	10,530	–	0.32%	–
DON	New	WisdomTree Trust Mid Cap Div Fmidcap divi fd	$993,000	–	11,096	–	0.30%	–
DVY	New	iShares Tr DJ Select Div Indexselect divid etf	$891,000	–	10,450	–	0.27%	–
IYZ	New	iShares Tr DJ US Telecom	$887,000	–	26,643	–	0.26%	–
VEA	New	Vanguard FTSE Developed Marketftse dev mkt etf	$886,000	–	25,054	–	0.26%	–
DWM	New	WisdomTree Trust DEFA Funddefa fd	$796,000	–	17,792	–	0.24%	–
BCPC	New	Balchem Corp	$780,000	–	13,076	–	0.23%	–
PG	New	Procter & Gamble Co	$769,000	–	9,087	–	0.23%	–
SPY	New	SPDR S&P 500 Index ETFtr unit	$738,000	–	3,523	–	0.22%	–
VWO	New	Vanguard Emerg Mkt ETFftse emr mkt etf	$722,000	–	20,500	–	0.22%	–
C	New	Citigroup Inc	$700,000	–	16,518	–	0.21%	–
MSFT	New	Microsoft Corp	$697,000	–	13,612	–	0.21%	–
XLU	New	Select Sector SPDR Tr SBI Utilsbi int-utils	$596,000	–	11,367	–	0.18%	–
JNJ	New	Johnson & Johnson	$591,000	–	4,874	–	0.18%	–
XLB	New	Select Sector SPDR Tr SBI Matesbi materials	$580,000	–	12,513	–	0.17%	–
VNQ	New	Vanguard Index Funds REIT ETFreit etf	$521,000	–	5,877	–	0.16%	–
IJR	New	iShares Tr S&P Small Cap 600core s&p scp etf	$468,000	–	4,025	–	0.14%	–
VOE	New	Vanguard Index Funds Mid Cap Vmcap vl idxvip	$464,000	–	5,210	–	0.14%	–
VO	New	Vanguard Index Funds Mid Cap Emid cap etf	$457,000	–	3,700	–	0.14%	–
HEDJ	New	WisdomTree Europe Hedged Equiteurope hedged eq	$435,000	–	8,615	–	0.13%	–
XHB	New	SPDR Series Trust S&P Homebuils&p homebuild	$428,000	–	12,775	–	0.13%	–
KRE	New	SPDR Series Trust KBW Regionals&p regl bkg	$413,000	–	10,749	–	0.12%	–
DES	New	WisdomTree Trust Small Cap Divsmallcap divid	$364,000	–	5,085	–	0.11%	–
CCK	New	Crown Holdings Inc	$311,000	–	6,134	–	0.09%	–
LNC	New	Lincoln Natl Corp Ind	$296,000	–	7,632	–	0.09%	–
T	New	AT&T Inc	$257,000	–	5,937	–	0.08%	–
AMZN	New	Amazon.com Inc	$243,000	–	340	–	0.07%	–
DIS	New	Disney Walt Co Disney	$230,000	–	2,347	–	0.07%	–
EFA	New	iShares Tr MSCI EAFE Indexmsci eafe etf	$229,000	–	4,100	–	0.07%	–
MMP	New	Magellan Midstream Partners LP	$228,000	–	3,000	–	0.07%	–
KO	New	Coca-Cola Co	$224,000	–	4,945	–	0.07%	–
CVX	New	Chevron Corp	$204,000	–	1,950	–	0.06%	–
FNCB	New	First National Community Banco	$88,000	–	15,740	–	0.03%	–
	New	Wells Fargo & Co Pfd Frac	$0	–	10,000	–	0.00%	–

Q4 2015

			Value		Shares		↓ Weighting
	Exit	Wells Fargo & Co Pfd Frac	$0	–	-10,000	–	0.00%	–
GBGLF	Exit	Great Basin Gold Ltd	$0	–	-30,164	–	0.00%	–
FNCB	Exit	First National Community Banco	$0	–	-20,740	–	-0.04%	–
AMKR	Exit	Amkor Technology Inc	$0	–	-25,000	–	-0.04%	–
ORKLY	Exit	Orkla AS Sp ADR A	$0	–	-25,000	–	-0.06%	–
DIS	Exit	Disney Walt Co Disney	$0	–	-2,225	–	-0.08%	–
WTR	Exit	Aqua America Inc	$0	–	-8,505	–	-0.08%	–
DGS	Exit	WisdomTree Trust Emerg Mkt Smaemg mkts smcap	$0	–	-6,550	–	-0.08%	–
CVX	Exit	Chevron Corp	$0	–	-3,210	–	-0.09%	–
HON	Exit	Honeywell Intl Inc	$0	–	-2,700	–	-0.09%	–
EWJ	Exit	iShares Inc MSCI Japanmsci japan etf	$0	–	-22,994	–	-0.09%	–
VGK	Exit	Vanguard European Stock Indexftse europe etf	$0	–	-5,349	–	-0.09%	–
AMZN	Exit	Amazon.com Inc	$0	–	-530	–	-0.09%	–
VNQ	Exit	Vanguard Index Funds REIT ETFreit etf	$0	–	-3,555	–	-0.09%	–
CCK	Exit	Crown Holdings Inc	$0	–	-6,153	–	-0.10%	–
JNJ	Exit	Johnson & Johnson	$0	–	-5,631	–	-0.18%	–
VOE	Exit	Vanguard Index Funds Mid Cap Vmcap vl idxvip	$0	–	-6,400	–	-0.18%	–
DWM	Exit	WisdomTree Trust DEFA Funddefa fd	$0	–	-12,470	–	-0.19%	–
MSFT	Exit	Microsoft Corp	$0	–	-13,595	–	-0.20%	–
IWD	Exit	iShares Tr Russell 1000 Valuerus 1000 val etf	$0	–	-6,736	–	-0.21%	–
DES	Exit	WisdomTree Trust Small Cap Divsmallcap divid	$0	–	-10,020	–	-0.22%	–
IYZ	Exit	iShares Tr DJ US Telecom	$0	–	-23,785	–	-0.22%	–
VWO	Exit	Vanguard Emerg Mkt ETFftse emr mkt etf	$0	–	-20,500	–	-0.23%	–
IWR	Exit	iShares Tr Russell Mid Caprus mid-cap etf	$0	–	-4,389	–	-0.23%	–
DVY	Exit	iShares Tr DJ Select Div Indexselect divid etf	$0	–	-9,925	–	-0.25%	–
PG	Exit	Procter & Gamble Co	$0	–	-10,457	–	-0.26%	–
VTV	Exit	Vanguard Index Funds Value ETFvalue etf	$0	–	-10,150	–	-0.27%	–
VIG	Exit	Vanguard Specialized Portfoliodiv app etf	$0	–	-11,065	–	-0.28%	–
DON	Exit	WisdomTree Trust Mid Cap Div Fmidcap divi fd	$0	–	-10,835	–	-0.29%	–
C	Exit	Citigroup Inc	$0	–	-18,545	–	-0.31%	–
VB	Exit	Vanguard Index Funds Small Capsmall cap etf	$0	–	-9,475	–	-0.35%	–
VO	Exit	Vanguard Index Funds Mid Cap Emid cap etf	$0	–	-9,475	–	-0.38%	–
SPY	Exit	SPDR S&P 500 Index ETFtr unit	$0	–	-6,007	–	-0.39%	–
VEA	Exit	Vanguard FTSE Developed Marketftse dev mkt etf	$0	–	-32,365	–	-0.39%	–
VTI	Exit	Vanguard Index Funds Stock Mkttotal stk mkt	$0	–	-12,135	–	-0.41%	–
ASH	Exit	Ashland Inc	$0	–	-13,098	–	-0.45%	–
IWF	Exit	iShares Tr Russell 1000 Growthrus 1000 grw etf	$0	–	-15,444	–	-0.49%	–
IYE	Exit	iShares Tr DJ US Energyu.s. energy etf	$0	–	-70,246	–	-0.82%	–
IYJ	Exit	iShares Tr Index DJ US Industru.s. inds etf	$0	–	-28,794	–	-0.95%	–
IYK	Exit	iShares Tr Consumer Goods Indeu.s. cnsm gd etf	$0	–	-27,226	–	-0.95%	–
XOM	Exit	Exxon Mobil Corp	$0	–	-43,321	–	-1.10%	–
IYC	Exit	iShares Tr Consumer Services Iu.s. cnsm sv etf	$0	–	-27,216	–	-1.28%	–
IYH	Exit	iShares Tr DJ US Healthcareus hlthcare etf	$0	–	-38,517	–	-1.84%	–
UAA	Exit	Under Armour Inc Cl A	$0	–	-59,700	–	-1.97%	–
IYF	Exit	iShares Tr DJ US Financial Secu.s. finls etf	$0	–	-68,884	–	-1.98%	–
SLB	Exit	Schlumberger Ltd	$0	–	-104,766	–	-2.46%	–
IYW	Exit	iShares Tr Index DJ US Tech Seu.s. tech etf	$0	–	-77,729	–	-2.62%	–
MPC	Exit	Marathon Petroleum Corp	$0	–	-168,173	–	-2.66%	–
IP	Exit	International Paper Co	$0	–	-206,802	–	-2.67%	–
VZ	Exit	Verizon Communications Inc	$0	–	-199,430	–	-2.96%	–
UTX	Exit	United Technologies Corp	$0	–	-99,531	–	-3.02%	–
EMN	Exit	Eastman Chem Co	$0	–	-136,958	–	-3.02%	–
GLW	Exit	Corning Inc	$0	–	-521,827	–	-3.05%	–
UNP	Exit	Union Pacific Corp	$0	–	-102,884	–	-3.10%	–
BA	Exit	Boeing Co	$0	–	-72,994	–	-3.26%	–
MRK	Exit	Merck & Co Inc	$0	–	-199,642	–	-3.36%	–
ACE	Exit	Ace Ltd	$0	–	-95,513	–	-3.37%	–
BLK	Exit	BlackRock Inc	$0	–	-33,395	–	-3.39%	–
GOOGL	Exit	Google Inc Cl A	$0	–	-15,572	–	-3.39%	–
UPS	Exit	United Parcel Service Inc Cl B	$0	–	-101,664	–	-3.42%	–
PEP	Exit	PepsiCo Inc	$0	–	-110,717	–	-3.56%	–
GE	Exit	General Electric Co	$0	–	-419,430	–	-3.61%	–
CMCSA	Exit	Comcast Corp Cl A	$0	–	-188,041	–	-3.65%	–
ABBV	Exit	Abbvie Inc	$0	–	-199,628	–	-3.71%	–
INTC	Exit	Intel Corp	$0	–	-369,703	–	-3.80%	–
JPM	Exit	JPMorgan Chase & Co	$0	–	-185,383	–	-3.86%	–
PFE	Exit	Pfizer Inc	$0	–	-376,136	–	-4.03%	–
V	Exit	Visa Inc Cl A	$0	–	-198,432	–	-4.72%	–
AAPL	Exit	Apple Inc	$0	–	-133,644	–	-5.03%	–

Q3 2015

			Value		Shares		↓ Weighting
AAPL	Buy	Apple Inc	$14,741,000	-11.2%	133,644	+1.0%	5.03%	+4.7%
V	Buy	Visa Inc Cl A	$13,823,000	+4.2%	198,432	+0.5%	4.72%	+22.9%
PFE	Sell	Pfizer Inc	$11,814,000	-6.9%	376,136	-0.6%	4.03%	+9.8%
JPM	Buy	JPMorgan Chase & Co	$11,303,000	-10.0%	185,383	+0.0%	3.86%	+6.1%
INTC	Buy	Intel Corp	$11,143,000	-0.1%	369,703	+0.8%	3.80%	+17.7%
ABBV	Buy	Abbvie Inc	$10,862,000	-18.9%	199,628	+0.2%	3.71%	-4.3%
CMCSA	Sell	Comcast Corp Cl A	$10,696,000	-5.6%	188,041	-0.2%	3.65%	+11.3%
GE	Buy	General Electric Co	$10,578,000	-3.4%	419,430	+1.8%	3.61%	+13.9%
PEP	Buy	PepsiCo Inc	$10,441,000	+1.8%	110,717	+0.8%	3.56%	+20.1%
UPS	Buy	United Parcel Service Inc Cl B	$10,033,000	+3.8%	101,664	+1.9%	3.42%	+22.4%
GOOGL	Buy	Google Inc Cl A	$9,941,000	+18.7%	15,572	+0.4%	3.39%	+39.9%
BLK	Buy	BlackRock Inc	$9,934,000	-10.3%	33,395	+4.4%	3.39%	+5.8%
ACE	New	Ace Ltd	$9,876,000	–	95,513	–	3.37%	–
MRK	Sell	Merck & Co Inc	$9,860,000	-13.4%	199,642	-0.2%	3.36%	+2.1%
BA	Buy	Boeing Co	$9,559,000	-3.3%	72,994	+2.4%	3.26%	+14.0%
UNP	Buy	Union Pacific Corp	$9,096,000	-5.9%	102,884	+1.5%	3.10%	+10.9%
GLW	Buy	Corning Inc	$8,934,000	-0.6%	521,827	+14.5%	3.05%	+17.2%
EMN	Buy	Eastman Chem Co	$8,864,000	-19.9%	136,958	+1.3%	3.02%	-5.6%
UTX	Buy	United Technologies Corp	$8,857,000	-18.4%	99,531	+1.7%	3.02%	-3.8%
VZ	Buy	Verizon Communications Inc	$8,677,000	-5.7%	199,430	+1.0%	2.96%	+11.2%
IP	Buy	International Paper Co	$7,815,000	-19.9%	206,802	+0.8%	2.67%	-5.6%
MPC	Sell	Marathon Petroleum Corp	$7,791,000	-36.9%	168,173	-28.7%	2.66%	-25.6%
IYW	Sell	iShares Tr Index DJ US Tech Seu.s. tech etf	$7,687,000	-5.6%	77,729	-0.1%	2.62%	+11.3%
SLB	Buy	Schlumberger Ltd	$7,226,000	-16.2%	104,766	+4.7%	2.46%	-1.2%
IYF	Sell	iShares Tr DJ US Financial Secu.s. finls etf	$5,794,000	-16.2%	68,884	-10.6%	1.98%	-1.2%
UAA	Buy	Under Armour Inc Cl A	$5,778,000	+16.4%	59,700	+0.3%	1.97%	+37.2%
IYH	Buy	iShares Tr DJ US Healthcareus hlthcare etf	$5,389,000	-8.5%	38,517	+3.8%	1.84%	+7.9%
IYC	Buy	iShares Tr Consumer Services Iu.s. cnsm sv etf	$3,745,000	+5.0%	27,216	+9.2%	1.28%	+23.8%
XOM	Buy	Exxon Mobil Corp	$3,221,000	-10.2%	43,321	+0.4%	1.10%	+5.9%
IYK	Sell	iShares Tr Consumer Goods Indeu.s. cnsm gd etf	$2,793,000	-14.6%	27,226	-12.6%	0.95%	+0.7%
IYJ	Sell	iShares Tr Index DJ US Industru.s. inds etf	$2,777,000	-30.2%	28,794	-23.8%	0.95%	-17.7%
IYE	Sell	iShares Tr DJ US Energyu.s. energy etf	$2,411,000	-31.1%	70,246	-14.9%	0.82%	-18.7%
IWF	Buy	iShares Tr Russell 1000 Growthrus 1000 grw etf	$1,436,000	+11.7%	15,444	+18.9%	0.49%	+31.7%
ASH	New	Ashland Inc	$1,318,000	–	13,098	–	0.45%	–
VTI	Sell	Vanguard Index Funds Stock Mkttotal stk mkt	$1,198,000	-53.9%	12,135	-50.0%	0.41%	-45.6%
SPY	Buy	SPDR S&P 500 Index ETFtr unit	$1,151,000	+18.5%	6,007	+27.3%	0.39%	+39.9%
VEA	Buy	Vanguard FTSE Developed Marketftse dev mkt etf	$1,153,000	-3.4%	32,365	+7.5%	0.39%	+13.6%
DON	Sell	WisdomTree Trust Mid Cap Div Fmidcap divi fd	$841,000	-8.6%	10,835	-2.7%	0.29%	+7.9%
VIG	Sell	Vanguard Specialized Portfoliodiv app etf	$816,000	-86.0%	11,065	-85.1%	0.28%	-83.6%
VTV	Buy	Vanguard Index Funds Value ETFvalue etf	$779,000	+35.5%	10,150	+47.1%	0.27%	+60.2%
PG	Buy	Procter & Gamble Co	$752,000	-2.7%	10,457	+5.8%	0.26%	+14.7%
DVY	Sell	iShares Tr DJ Select Div Indexselect divid etf	$722,000	-5.6%	9,925	-2.5%	0.25%	+11.3%
IWR	Buy	iShares Tr Russell Mid Caprus mid-cap etf	$683,000	+20.0%	4,389	+31.4%	0.23%	+41.2%
IYZ	Sell	iShares Tr DJ US Telecom	$642,000	-10.0%	23,785	-2.3%	0.22%	+6.3%
DES	Sell	WisdomTree Trust Small Cap Divsmallcap divid	$631,000	-12.4%	10,020	-2.0%	0.22%	+3.4%
IWD	Sell	iShares Tr Russell 1000 Valuerus 1000 val etf	$628,000	-11.9%	6,736	-2.5%	0.21%	+3.9%
MSFT	Buy	Microsoft Corp	$602,000	+1.9%	13,595	+1.6%	0.20%	+19.9%
DWM	Sell	WisdomTree Trust DEFA Funddefa fd	$566,000	-13.5%	12,470	-2.7%	0.19%	+2.1%
VOE	Buy	Vanguard Index Funds Mid Cap Vmcap vl idxvip	$533,000	+32.6%	6,400	+44.2%	0.18%	+56.9%
JNJ	Buy	Johnson & Johnson	$526,000	+4.0%	5,631	+8.4%	0.18%	+22.6%
AMZN	Sell	Amazon.com Inc	$271,000	+5.9%	530	-10.2%	0.09%	+24.3%
VNQ	New	Vanguard Index Funds REIT ETFreit etf	$269,000	–	3,555	–	0.09%	–
EWJ	Buy	iShares Inc MSCI Japanmsci japan etf	$263,000	+26.4%	22,994	+41.7%	0.09%	+50.0%
VGK	Buy	Vanguard European Stock Indexftse europe etf	$263,000	+30.8%	5,349	+43.9%	0.09%	+55.2%
HON	Buy	Honeywell Intl Inc	$256,000	-6.9%	2,700	+0.1%	0.09%	+8.8%
CVX	Sell	Chevron Corp	$253,000	-95.3%	3,210	-94.3%	0.09%	-94.5%
DGS	Sell	WisdomTree Trust Emerg Mkt Smaemg mkts smcap	$233,000	-19.4%	6,550	-1.5%	0.08%	-6.0%
DIS	Buy	Disney Walt Co Disney	$227,000	-10.6%	2,225	+0.1%	0.08%	+5.5%
AMKR	New	Amkor Technology Inc	$112,000	–	25,000	–	0.04%	–
MMP	Exit	Magellan Midstream Partners LP	$0	–	-3,000	–	-0.06%	–
VAW	Exit	Vanguard World Funds Materialsmaterials etf	$0	–	-9,060	–	-0.28%	–
D	Exit	Dominion Resources Inc VA	$0	–	-52,929	–	-1.02%	–
AEP	Exit	American Electric Power Inc	$0	–	-97,192	–	-1.49%	–
CAT	Exit	Caterpillar Inc	$0	–	-99,882	–	-2.45%	–
DD	Exit	Du Pont E I de Nemours & Co	$0	–	-134,101	–	-2.48%	–

Q2 2015

			Value		Shares		↓ Weighting
AAPL	New	Apple Inc	$16,591,000	–	132,282	–	4.80%	–
ABBV	New	Abbvie Inc	$13,388,000	–	199,255	–	3.87%	–
V	New	Visa Inc Cl A	$13,260,000	–	197,469	–	3.84%	–
PFE	New	Pfizer Inc	$12,683,000	–	378,252	–	3.67%	–
JPM	New	JPMorgan Chase & Co	$12,560,000	–	185,367	–	3.63%	–
MPC	New	Marathon Petroleum Corp	$12,341,000	–	235,924	–	3.57%	–
MRK	New	Merck & Co Inc	$11,387,000	–	200,013	–	3.30%	–
CMCSA	New	Comcast Corp Cl A	$11,332,000	–	188,433	–	3.28%	–
INTC	New	Intel Corp	$11,159,000	–	366,893	–	3.23%	–
BLK	New	BlackRock Inc	$11,070,000	–	31,997	–	3.20%	–
EMN	New	Eastman Chem Co	$11,064,000	–	135,219	–	3.20%	–
GE	New	General Electric Co	$10,950,000	–	412,115	–	3.17%	–
UTX	New	United Technologies Corp	$10,856,000	–	97,859	–	3.14%	–
PEP	New	PepsiCo Inc	$10,255,000	–	109,869	–	2.97%	–
BA	New	Boeing Co	$9,885,000	–	71,257	–	2.86%	–
IP	New	International Paper Co	$9,759,000	–	205,060	–	2.82%	–
UNP	New	Union Pacific Corp	$9,668,000	–	101,371	–	2.80%	–
UPS	New	United Parcel Service Inc Cl B	$9,666,000	–	99,743	–	2.80%	–
VZ	New	Verizon Communications Inc	$9,203,000	–	197,448	–	2.66%	–
GLW	New	Corning Inc	$8,989,000	–	455,620	–	2.60%	–
SLB	New	Schlumberger Ltd	$8,625,000	–	100,065	–	2.50%	–
DD	New	Du Pont E I de Nemours & Co	$8,576,000	–	134,101	–	2.48%	–
CAT	New	Caterpillar Inc	$8,472,000	–	99,882	–	2.45%	–
GOOGL	New	Google Inc Cl A	$8,378,000	–	15,513	–	2.42%	–
IYW	New	iShares Tr Index DJ US Tech Seu.s. tech etf	$8,142,000	–	77,790	–	2.36%	–
IYF	New	iShares Tr DJ US Financial Secu.s. finls etf	$6,916,000	–	77,072	–	2.00%	–
IYH	New	iShares Tr DJ US Healthcareus hlthcare etf	$5,891,000	–	37,118	–	1.70%	–
VIG	New	Vanguard Specialized Portfoliodiv app etf	$5,844,000	–	74,372	–	1.69%	–
CVX	New	Chevron Corp	$5,416,000	–	56,146	–	1.57%	–
AEP	New	American Electric Power Inc	$5,148,000	–	97,192	–	1.49%	–
UAA	New	Under Armour Inc Cl A	$4,965,000	–	59,505	–	1.44%	–
IYJ	New	iShares Tr Index DJ US Industru.s. inds etf	$3,978,000	–	37,765	–	1.15%	–
XOM	New	Exxon Mobil Corp	$3,588,000	–	43,131	–	1.04%	–
IYC	New	iShares Tr Consumer Services Iu.s. cnsm sv etf	$3,566,000	–	24,915	–	1.03%	–
D	New	Dominion Resources Inc VA	$3,539,000	–	52,929	–	1.02%	–
IYE	New	iShares Tr DJ US Energyu.s. energy etf	$3,497,000	–	82,514	–	1.01%	–
IYK	New	iShares Tr Consumer Goods Indeu.s. cnsm gd etf	$3,269,000	–	31,166	–	0.95%	–
VTI	New	Vanguard Index Funds Stock Mkttotal stk mkt	$2,599,000	–	24,285	–	0.75%	–
IWF	New	iShares Tr Russell 1000 Growthrus 1000 grw etf	$1,286,000	–	12,986	–	0.37%	–
VO	New	Vanguard Index Funds Mid Cap Emid cap etf	$1,207,000	–	9,475	–	0.35%	–
VEA	New	Vanguard FTSE Developed Marketftse dev mkt etf	$1,194,000	–	30,112	–	0.35%	–
VB	New	Vanguard Index Funds Small Capsmall cap etf	$1,151,000	–	9,475	–	0.33%	–
C	New	Citigroup Inc	$1,024,000	–	18,545	–	0.30%	–
VAW	New	Vanguard World Funds Materialsmaterials etf	$975,000	–	9,060	–	0.28%	–
SPY	New	SPDR S&P 500 Index ETFtr unit	$971,000	–	4,717	–	0.28%	–
DON	New	WisdomTree Trust Mid Cap Div Fmidcap divi fd	$920,000	–	11,135	–	0.27%	–
VWO	New	Vanguard Emerg Mkt ETFftse emr mkt etf	$838,000	–	20,500	–	0.24%	–
PG	New	Procter & Gamble Co	$773,000	–	9,883	–	0.22%	–
DVY	New	iShares Tr DJ Select Div Indexselect divid etf	$765,000	–	10,175	–	0.22%	–
DES	New	WisdomTree Trust Small Cap Divsmallcap divid	$720,000	–	10,220	–	0.21%	–
IWD	New	iShares Tr Russell 1000 Valuerus 1000 val etf	$713,000	–	6,911	–	0.21%	–
IYZ	New	iShares Tr DJ US Telecom	$713,000	–	24,345	–	0.21%	–
DWM	New	WisdomTree Trust DEFA Funddefa fd	$654,000	–	12,820	–	0.19%	–
MSFT	New	Microsoft Corp	$591,000	–	13,387	–	0.17%	–
VTV	New	Vanguard Index Funds Value ETFvalue etf	$575,000	–	6,900	–	0.17%	–
IWR	New	iShares Tr Russell Mid Caprus mid-cap etf	$569,000	–	3,341	–	0.16%	–
JNJ	New	Johnson & Johnson	$506,000	–	5,196	–	0.15%	–
VOE	New	Vanguard Index Funds Mid Cap Vmcap vl idxvip	$402,000	–	4,437	–	0.12%	–
CCK	New	Crown Holdings Inc	$326,000	–	6,153	–	0.09%	–
DGS	New	WisdomTree Trust Emerg Mkt Smaemg mkts smcap	$289,000	–	6,650	–	0.08%	–
HON	New	Honeywell Intl Inc	$275,000	–	2,698	–	0.08%	–
AMZN	New	Amazon.com Inc	$256,000	–	590	–	0.07%	–
DIS	New	Disney Walt Co Disney	$254,000	–	2,223	–	0.07%	–
MMP	New	Magellan Midstream Partners LP	$220,000	–	3,000	–	0.06%	–
WTR	New	Aqua America Inc	$208,000	–	8,505	–	0.06%	–
EWJ	New	iShares Inc MSCI Japanmsci japan etf	$208,000	–	16,230	–	0.06%	–
VGK	New	Vanguard European Stock Indexftse europe etf	$201,000	–	3,716	–	0.06%	–
ORKLY	New	Orkla AS Sp ADR A	$196,000	–	25,000	–	0.06%	–
FNCB	New	First National Community Banco	$125,000	–	20,740	–	0.04%	–
GBGLF	New	Great Basin Gold Ltd	$0	–	30,164	–	0.00%	–
	New	Wells Fargo & Co Pfd Frac	$0	–	10,000	–	0.00%	–

Q4 2014

			Value		Shares		↓ Weighting
GBGLF	Exit	Great Basin Gold Ltd	$0	–	-30,164	–	0.00%	–
VBK	Exit	Vanguard Index Funds Small Capsml cp grw etf	$0	–	-1,665	–	-0.07%	–
VZ	Exit	Verizon Communications Inc	$0	–	-4,084	–	-0.07%	–
EEM	Exit	iShares Tr MSCI Emerg Mktmsci emg mkt etf	$0	–	-4,933	–	-0.07%	–
EWJ	Exit	iShares Inc MSCI Japanmsci japan etf	$0	–	-18,300	–	-0.07%	–
VGK	Exit	Vanguard European Stock Indexmid cap etf	$0	–	-3,903	–	-0.07%	–
WLL	Exit	Whiting Petroleum Corp	$0	–	-2,800	–	-0.07%	–
KMB	Exit	Kimberly Clark Corp	$0	–	-2,120	–	-0.08%	–
HON	Exit	Honeywell Intl Inc	$0	–	-2,692	–	-0.08%	–
NEE	Exit	NextEra Energy Inc	$0	–	-2,732	–	-0.09%	–
AMZN	Exit	Amazon.com Inc	$0	–	-810	–	-0.09%	–
DGS	Exit	WisdomTree Trust Emerg Mkt Smaemg mkts smcap	$0	–	-5,600	–	-0.09%	–
IBM	Exit	International Business Machine	$0	–	-1,422	–	-0.09%	–
PM	Exit	Philip Morris Intl Inc	$0	–	-3,362	–	-0.09%	–
SPY	Exit	SPDR S&P 500 Index ETFtr unit	$0	–	-4,667	–	-0.11%	–
VOE	Exit	Vanguard Index Funds Mid Cap Vmcap vl idxvip	$0	–	-4,985	–	-0.14%	–
THRM	Exit	Gentherm Inc	$0	–	-13,000	–	-0.18%	–
DES	Exit	WisdomTree Trust Small Cap Divsmallcap divid	$0	–	-8,645	–	-0.19%	–
DVY	Exit	iShares Tr DJ Select Div Indexdj sel div inx	$0	–	-7,640	–	-0.19%	–
DWM	Exit	WisdomTree Trust DEFA Funddefa fd	$0	–	-11,047	–	-0.19%	–
JNJ	Exit	Johnson & Johnson	$0	–	-5,521	–	-0.20%	–
IWD	Exit	iShares Tr Russell 1000 Valuerussell1000val	$0	–	-5,961	–	-0.20%	–
MSFT	Exit	Microsoft Corp	$0	–	-13,148	–	-0.20%	–
VAW	Exit	Vanguard World Funds Materialsftse europe etf	$0	–	-5,605	–	-0.21%	–
VTV	Exit	Vanguard Index Funds Value ETFvalue etf	$0	–	-9,134	–	-0.25%	–
DON	Exit	WisdomTree Trust Mid Cap Div Fmidcap divi fd	$0	–	-9,560	–	-0.25%	–
PG	Exit	Procter & Gamble Co	$0	–	-9,874	–	-0.28%	–
VWO	Exit	Vanguard Emerg Mkt ETFftse emr mkt etf	$0	–	-20,960	–	-0.29%	–
C	Exit	Citigroup Inc	$0	–	-17,006	–	-0.29%	–
VB	Exit	Vanguard Index Funds Small Capsmall cap etf	$0	–	-9,995	–	-0.37%	–
VO	Exit	Vanguard Index Funds Mid Cap Emid cap etf	$0	–	-9,550	–	-0.37%	–
VEA	Exit	Vanguard FTSE Developed Marketftse dev mkt etf	$0	–	-31,510	–	-0.42%	–
IWF	Exit	iShares Tr Russell 1000 Growthrussell1000grw	$0	–	-13,884	–	-0.42%	–
IWR	Exit	iShares Tr Russell Mid Caprus mid-cap etf	$0	–	-9,239	–	-0.49%	–
IYK	Exit	iShares Tr Consumer Goods Indecons goods idx	$0	–	-18,629	–	-0.62%	–
IYC	Exit	iShares Tr Consumer Services Icons srvc idx	$0	–	-14,867	–	-0.62%	–
IYE	Exit	iShares Tr DJ US Energydj us energy	$0	–	-42,362	–	-0.73%	–
IYJ	Exit	iShares Tr Index DJ US Industrdj us industrl	$0	–	-25,679	–	-0.87%	–
VTI	Exit	Vanguard Index Funds Stock Mkttotal stk mkt	$0	–	-25,885	–	-0.88%	–
IYH	Exit	iShares Tr DJ US Healthcaredj us healthcr	$0	–	-22,267	–	-1.00%	–
D	Exit	Dominion Resources Inc VA	$0	–	-52,938	–	-1.22%	–
IYF	Exit	iShares Tr DJ US Financial Secdj us finl sec	$0	–	-44,098	–	-1.23%	–
XOM	Exit	Exxon Mobil Corp	$0	–	-47,591	–	-1.50%	–
IYW	Exit	iShares Tr Index DJ US Tech Sedj us tech sec	$0	–	-45,596	–	-1.54%	–
AEP	Exit	American Electric Power Inc	$0	–	-95,572	–	-1.67%	–
CVX	Exit	Chevron Corp	$0	–	-44,753	–	-1.78%	–
VIG	Exit	Vanguard Specialized Portfoliodiv app etf	$0	–	-83,209	–	-2.14%	–
QCOM	Exit	Qualcomm Inc	$0	–	-105,605	–	-2.64%	–
DD	Exit	Du Pont E I de Nemours & Co	$0	–	-123,070	–	-2.95%	–
UPS	Exit	United Parcel Service Inc Cl B	$0	–	-90,366	–	-2.97%	–
CAT	Exit	Caterpillar Inc	$0	–	-89,848	–	-2.97%	–
ACE	Exit	Ace Ltd	$0	–	-84,987	–	-2.98%	–
IP	Exit	International Paper Co	$0	–	-189,097	–	-3.02%	–
SLB	Exit	Schlumberger Ltd	$0	–	-89,078	–	-3.03%	–
KRFT	Exit	Kraft Foods Group Inc	$0	–	-160,794	–	-3.03%	–
MPC	Exit	Marathon Petroleum Corp	$0	–	-108,315	–	-3.07%	–
EMC	Exit	EMC Corp MA	$0	–	-313,858	–	-3.07%	–
CMCSA	Exit	Comcast Corp Cl A	$0	–	-172,745	–	-3.10%	–
PEP	Exit	PepsiCo Inc	$0	–	-100,781	–	-3.14%	–
GE	Exit	General Electric Co	$0	–	-369,536	–	-3.16%	–
UTX	Exit	United Technologies Corp	$0	–	-89,706	–	-3.17%	–
PFE	Exit	Pfizer Inc	$0	–	-322,939	–	-3.19%	–
BLK	Exit	BlackRock Inc	$0	–	-29,851	–	-3.28%	–
MRO	Exit	Marathon Oil Corp	$0	–	-261,927	–	-3.29%	–
V	Exit	Visa Inc Cl A	$0	–	-46,610	–	-3.32%	–
UNP	Exit	Union Pacific Corp	$0	–	-94,141	–	-3.41%	–
JPM	Exit	JPMorgan Chase & Co	$0	–	-171,763	–	-3.46%	–
ABBV	Exit	Abbvie Inc	$0	–	-185,672	–	-3.58%	–
MRK	Exit	Merck & Co Inc	$0	–	-188,492	–	-3.74%	–
INTC	Exit	Intel Corp	$0	–	-351,485	–	-4.09%	–
AAPL	Exit	Apple Inc	$0	–	-126,996	–	-4.28%	–

Q3 2014

			Value		Shares		↓ Weighting
AAPL	Buy	Apple Inc	$12,795,000	+12.2%	126,996	+3.5%	4.28%	+10.3%
INTC	Sell	Intel Corp	$12,239,000	+11.6%	351,485	-1.0%	4.09%	+9.7%
MRK	Sell	Merck & Co Inc	$11,174,000	+2.4%	188,492	-0.0%	3.74%	+0.7%
ABBV	Buy	Abbvie Inc	$10,724,000	+3.7%	185,672	+1.3%	3.58%	+1.9%
JPM	Buy	JPMorgan Chase & Co	$10,347,000	+4.6%	171,763	+0.1%	3.46%	+2.9%
UNP	Buy	Union Pacific Corp	$10,207,000	+10.0%	94,141	+1.2%	3.41%	+8.1%
V	Buy	Visa Inc Cl A	$9,945,000	+1.7%	46,610	+0.5%	3.32%	+0.0%
MRO	Buy	Marathon Oil Corp	$9,846,000	-5.2%	261,927	+0.6%	3.29%	-6.8%
BLK	Buy	BlackRock Inc	$9,801,000	+3.3%	29,851	+0.6%	3.28%	+1.6%
PFE	Buy	Pfizer Inc	$9,549,000	+1.0%	322,939	+1.4%	3.19%	-0.7%
UTX	Buy	United Technologies Corp	$9,473,000	-6.5%	89,706	+2.2%	3.17%	-8.1%
GE	Buy	General Electric Co	$9,468,000	-1.2%	369,536	+1.4%	3.16%	-2.8%
PEP	Buy	PepsiCo Inc	$9,382,000	+5.8%	100,781	+1.6%	3.14%	+4.0%
CMCSA	Buy	Comcast Corp Cl A	$9,290,000	+1.9%	172,745	+1.7%	3.10%	+0.2%
EMC	Buy	EMC Corp MA	$9,183,000	+14.2%	313,858	+2.8%	3.07%	+12.2%
MPC	Buy	Marathon Petroleum Corp	$9,171,000	+13.1%	108,315	+4.3%	3.07%	+11.2%
KRFT	Buy	Kraft Foods Group Inc	$9,069,000	-5.1%	160,794	+0.9%	3.03%	-6.7%
SLB	Buy	Schlumberger Ltd	$9,058,000	-13.0%	89,078	+0.9%	3.03%	-14.5%
IP	Buy	International Paper Co	$9,028,000	+2.7%	189,097	+8.6%	3.02%	+1.0%
ACE	Buy	Ace Ltd	$8,913,000	+2.9%	84,987	+1.8%	2.98%	+1.2%
CAT	Buy	Caterpillar Inc	$8,898,000	-7.7%	89,848	+1.3%	2.97%	-9.3%
UPS	Buy	United Parcel Service Inc Cl B	$8,882,000	-1.6%	90,366	+2.8%	2.97%	-3.2%
DD	Buy	Du Pont E I de Nemours & Co	$8,831,000	+10.4%	123,070	+0.7%	2.95%	+8.5%
QCOM	Buy	Qualcomm Inc	$7,896,000	-3.3%	105,605	+2.5%	2.64%	-4.9%
VIG	Sell	Vanguard Specialized Portfoliodiv app etf	$6,403,000	-4.4%	83,209	-3.2%	2.14%	-6.1%
CVX	Buy	Chevron Corp	$5,340,000	+36.7%	44,753	+49.6%	1.78%	+34.4%
AEP	Sell	American Electric Power Inc	$4,990,000	-7.7%	95,572	-1.4%	1.67%	-9.2%
IYW	Buy	iShares Tr Index DJ US Tech Sedj us tech sec	$4,594,000	+14.8%	45,596	+10.4%	1.54%	+12.9%
XOM	Sell	Exxon Mobil Corp	$4,476,000	-31.4%	47,591	-26.6%	1.50%	-32.6%
IYF	Buy	iShares Tr DJ US Financial Secdj us finl sec	$3,692,000	+12.7%	44,098	+11.9%	1.23%	+10.8%
D	Sell	Dominion Resources Inc VA	$3,657,000	-3.7%	52,938	-0.3%	1.22%	-5.3%
IYH	Buy	iShares Tr DJ US Healthcaredj us healthcr	$2,992,000	+14.4%	22,267	+9.2%	1.00%	+12.5%
IYJ	Buy	iShares Tr Index DJ US Industrdj us industrl	$2,597,000	+9.6%	25,679	+12.3%	0.87%	+7.8%
IYE	Buy	iShares Tr DJ US Energydj us energy	$2,183,000	+0.8%	42,362	+11.1%	0.73%	-0.8%
IYC	Buy	iShares Tr Consumer Services Icons srvc idx	$1,850,000	+12.5%	14,867	+11.6%	0.62%	+10.6%
IYK	Buy	iShares Tr Consumer Goods Indecons goods idx	$1,840,000	+11.0%	18,629	+11.6%	0.62%	+9.0%
IWR	Buy	iShares Tr Russell Mid Caprus mid-cap etf	$1,463,000	+42.7%	9,239	+46.6%	0.49%	+40.1%
IWF	Buy	iShares Tr Russell 1000 Growthrussell1000grw	$1,272,000	+5.5%	13,884	+4.7%	0.42%	+3.7%
VEA	Buy	Vanguard FTSE Developed Marketftse dev mkt etf	$1,253,000	-5.9%	31,510	+0.7%	0.42%	-7.5%
C	Sell	Citigroup Inc	$881,000	+1.5%	17,006	-7.7%	0.29%	-0.3%
PG	Buy	Procter & Gamble Co	$827,000	+6.7%	9,874	+0.1%	0.28%	+4.5%
VTV	Buy	Vanguard Index Funds Value ETFvalue etf	$742,000	+56.5%	9,134	+56.0%	0.25%	+54.0%
VAW	Buy	Vanguard World Funds Materialsftse europe etf	$618,000	+10.0%	5,605	+11.5%	0.21%	+8.4%
MSFT	Sell	Microsoft Corp	$610,000	-1.0%	13,148	-10.9%	0.20%	-2.4%
JNJ	Buy	Johnson & Johnson	$588,000	+3.0%	5,521	+1.2%	0.20%	+1.5%
VOE	Buy	Vanguard Index Funds Mid Cap Vmcap vl idxvip	$423,000	+2.2%	4,985	+4.7%	0.14%	0.0%
SPY	Sell	SPDR S&P 500 Index ETFtr unit	$319,000	-65.2%	4,667	-0.3%	0.11%	-65.6%
PM	Buy	Philip Morris Intl Inc	$280,000	-1.1%	3,362	+0.1%	0.09%	-2.1%
IBM	New	International Business Machine	$270,000	–	1,422	–	0.09%	–
AMZN	New	Amazon.com Inc	$261,000	–	810	–	0.09%	–
HON	Buy	Honeywell Intl Inc	$251,000	+2.4%	2,692	+2.0%	0.08%	+1.2%
KMB	Sell	Kimberly Clark Corp	$228,000	-12.6%	2,120	-9.6%	0.08%	-14.6%
VGK	Sell	Vanguard European Stock Indexmid cap etf	$216,000	-46.7%	3,903	-42.3%	0.07%	-47.8%
EWJ	Buy	iShares Inc MSCI Japanmsci japan etf	$215,000	+4.9%	18,300	+7.2%	0.07%	+2.9%
EEM	New	iShares Tr MSCI Emerg Mktmsci emg mkt etf	$205,000	–	4,933	–	0.07%	–
VZ	Sell	Verizon Communications Inc	$204,000	0.0%	4,084	-2.2%	0.07%	-1.4%
VBK	Buy	Vanguard Index Funds Small Capsml cp grw etf	$200,000	-1.5%	1,665	+4.7%	0.07%	-2.9%
SCZ	Exit	iShares Tr MSCI Small Capeafe sml cp etf	$0	–	-3,813	–	-0.07%	–
IWC	Exit	iShares Tr Russell Microcap Inmicro-cap etf	$0	–	-2,780	–	-0.07%	–
WTR	Exit	Aqua America Inc	$0	–	-8,498	–	-0.08%	–
IWO	Exit	iShares Tr Russell 2000 Growthrus 2000 grw etf	$0	–	-3,400	–	-0.16%	–

Q2 2014

			Value		Shares		↓ Weighting
AAPL	New	Apple Inc	$11,402,000	–	122,693	–	3.88%	–
INTC	New	Intel Corp	$10,969,000	–	354,979	–	3.73%	–
MRK	New	Merck & Co Inc	$10,907,000	–	188,541	–	3.71%	–
SLB	New	Schlumberger Ltd	$10,411,000	–	88,267	–	3.54%	–
MRO	New	Marathon Oil Corp	$10,390,000	–	260,262	–	3.53%	–
ABBV	New	Abbvie Inc	$10,344,000	–	183,272	–	3.52%	–
UTX	New	United Technologies Corp	$10,132,000	–	87,764	–	3.44%	–
JPM	New	JPMorgan Chase & Co	$9,888,000	–	171,613	–	3.36%	–
V	New	Visa Inc Cl A	$9,774,000	–	46,387	–	3.32%	–
CAT	New	Caterpillar Inc	$9,642,000	–	88,724	–	3.28%	–
GE	New	General Electric Co	$9,579,000	–	364,503	–	3.26%	–
KRFT	New	Kraft Foods Group Inc	$9,553,000	–	159,344	–	3.25%	–
BLK	New	BlackRock Inc	$9,486,000	–	29,680	–	3.22%	–
PFE	New	Pfizer Inc	$9,455,000	–	318,570	–	3.22%	–
UNP	New	Union Pacific Corp	$9,278,000	–	93,018	–	3.16%	–
CMCSA	New	Comcast Corp Cl A	$9,116,000	–	169,815	–	3.10%	–
UPS	New	United Parcel Service Inc Cl B	$9,022,000	–	87,884	–	3.07%	–
PEP	New	PepsiCo Inc	$8,865,000	–	99,233	–	3.01%	–
IP	New	International Paper Co	$8,789,000	–	174,142	–	2.99%	–
ACE	New	Ace Ltd	$8,661,000	–	83,516	–	2.94%	–
QCOM	New	Qualcomm Inc	$8,164,000	–	103,076	–	2.78%	–
MPC	New	Marathon Petroleum Corp	$8,109,000	–	103,871	–	2.76%	–
EMC	New	EMC Corp MA	$8,043,000	–	305,366	–	2.74%	–
DD	New	Du Pont E I de Nemours & Co	$8,002,000	–	122,275	–	2.72%	–
VIG	New	Vanguard Specialized Portfoliodiv app etf	$6,701,000	–	85,966	–	2.28%	–
XOM	New	Exxon Mobil Corp	$6,528,000	–	64,842	–	2.22%	–
AEP	New	American Electric Power Inc	$5,404,000	–	96,900	–	1.84%	–
IYW	New	iShares Tr Index DJ US Tech Sedj us tech sec	$4,001,000	–	41,301	–	1.36%	–
CVX	New	Chevron Corp	$3,906,000	–	29,922	–	1.33%	–
D	New	Dominion Resources Inc VA	$3,797,000	–	53,087	–	1.29%	–
IYF	New	iShares Tr DJ US Financial Secdj us finl sec	$3,277,000	–	39,415	–	1.11%	–
VTI	New	Vanguard Index Funds Stock Mkttotal stk mkt	$2,634,000	–	25,885	–	0.90%	–
IYH	New	iShares Tr DJ US Healthcaredj us healthcr	$2,615,000	–	20,393	–	0.89%	–
IYJ	New	iShares Tr Index DJ US Industrdj us industrl	$2,369,000	–	22,865	–	0.80%	–
IYE	New	iShares Tr DJ US Energydj us energy	$2,165,000	–	38,123	–	0.74%	–
IYK	New	iShares Tr Consumer Goods Indecons goods idx	$1,658,000	–	16,692	–	0.56%	–
IYC	New	iShares Tr Consumer Services Icons srvc idx	$1,644,000	–	13,316	–	0.56%	–
VEA	New	Vanguard FTSE Developed Marketftse dev mkt etf	$1,332,000	–	31,285	–	0.45%	–
IWF	New	iShares Tr Russell 1000 Growthrussell1000grw	$1,206,000	–	13,264	–	0.41%	–
VB	New	Vanguard Index Funds Small Capsmall cap etf	$1,171,000	–	9,995	–	0.40%	–
VO	New	Vanguard Index Funds Mid Cap Emid cap etf	$1,133,000	–	9,550	–	0.38%	–
IWR	New	iShares Tr Russell Mid Caprus mid-cap etf	$1,025,000	–	6,304	–	0.35%	–
SPY	New	SPDR S&P 500 Index ETFtr unit	$916,000	–	4,682	–	0.31%	–
VWO	New	Vanguard Emerg Mkt ETFftse emr mkt etf	$904,000	–	20,960	–	0.31%	–
C	New	Citigroup Inc	$868,000	–	18,426	–	0.30%	–
DON	New	WisdomTree Trust Mid Cap Div Fmidcap divi fd	$781,000	–	9,560	–	0.27%	–
PG	New	Procter & Gamble Co	$775,000	–	9,860	–	0.26%	–
DWM	New	WisdomTree Trust DEFA Funddefa fd	$619,000	–	11,047	–	0.21%	–
MSFT	New	Microsoft Corp	$616,000	–	14,761	–	0.21%	–
DES	New	WisdomTree Trust Small Cap Divsmallcap divid	$605,000	–	8,645	–	0.21%	–
IWD	New	iShares Tr Russell 1000 Valuerussell1000val	$604,000	–	5,961	–	0.20%	–
DVY	New	iShares Tr DJ Select Div Indexdj sel div inx	$588,000	–	7,640	–	0.20%	–
THRM	New	Gentherm Inc	$578,000	–	13,000	–	0.20%	–
JNJ	New	Johnson & Johnson	$571,000	–	5,454	–	0.19%	–
VAW	New	Vanguard World Funds Materialsftse europe etf	$562,000	–	5,029	–	0.19%	–
VTV	New	Vanguard Index Funds Value ETFvalue etf	$474,000	–	5,857	–	0.16%	–
IWO	New	iShares Tr Russell 2000 Growthrus 2000 grw etf	$471,000	–	3,400	–	0.16%	–
VOE	New	Vanguard Index Funds Mid Cap Vmcap vl idxvip	$414,000	–	4,761	–	0.14%	–
VGK	New	Vanguard European Stock Indexmid cap etf	$405,000	–	6,761	–	0.14%	–
PM	New	Philip Morris Intl Inc	$283,000	–	3,359	–	0.10%	–
NEE	New	NextEra Energy Inc	$280,000	–	2,732	–	0.10%	–
DGS	New	WisdomTree Trust Emerg Mkt Smaemg mkts smcap	$269,000	–	5,600	–	0.09%	–
KMB	New	Kimberly Clark Corp	$261,000	–	2,344	–	0.09%	–
HON	New	Honeywell Intl Inc	$245,000	–	2,640	–	0.08%	–
WLL	New	Whiting Petroleum Corp	$225,000	–	2,800	–	0.08%	–
WTR	New	Aqua America Inc	$223,000	–	8,498	–	0.08%	–
IWC	New	iShares Tr Russell Microcap Inmicro-cap etf	$212,000	–	2,780	–	0.07%	–
EWJ	New	iShares Inc MSCI Japanmsci japan etf	$205,000	–	17,065	–	0.07%	–
SCZ	New	iShares Tr MSCI Small Capeafe sml cp etf	$202,000	–	3,813	–	0.07%	–
VBK	New	Vanguard Index Funds Small Capsml cp grw etf	$203,000	–	1,590	–	0.07%	–
VZ	New	Verizon Communications Inc	$204,000	–	4,177	–	0.07%	–
GBGLF	New	Great Basin Gold Ltd	$0	–	30,164	–	0.00%	–

Q4 2013

			Value		Shares		↓ Weighting
VTV	Exit	Vanguard Index Funds Value ETFvalue etf	$0	–	-2,875	–	-0.12%	–
IYZ	Exit	iShares Tr DJ US Telecom	$0	–	-7,834	–	-0.13%	–
VUG	Exit	Vanguard Index Funds Growth ETgrowth etf	$0	–	-2,950	–	-0.15%	–
DGS	Exit	WisdomTree Trust Emerg Mkt Smaemg mkts smcap	$0	–	-5,700	–	-0.16%	–
DVY	Exit	iShares Tr DJ Select Div Indexdj sel div inx	$0	–	-7,840	–	-0.31%	–
IWD	Exit	iShares Tr Russell 1000 Valuerussell1000val	$0	–	-6,070	–	-0.31%	–
IWF	Exit	iShares Tr Russell 1000 Growthrussell1000grw	$0	–	-6,715	–	-0.31%	–
DES	Exit	WisdomTree Trust Small Cap Divsmallcap divid	$0	–	-8,820	–	-0.33%	–
DWM	Exit	WisdomTree Trust DEFA Funddefa fd	$0	–	-11,347	–	-0.35%	–
C	Exit	Citigroup Inc	$0	–	-12,661	–	-0.36%	–
DON	Exit	WisdomTree Trust Mid Cap Div Fmidcap divi fd	$0	–	-9,810	–	-0.40%	–
IYC	Exit	iShares Tr Consumer Services Icons srvc idx	$0	–	-8,982	–	-0.58%	–
IYK	Exit	iShares Tr Consumer Goods Indecons goods idx	$0	–	-11,284	–	-0.60%	–
IYE	Exit	iShares Tr DJ US Energydj us energy	$0	–	-25,023	–	-0.70%	–
IYJ	Exit	iShares Tr Index DJ US Industrdj us industrl	$0	–	-13,236	–	-0.71%	–
CVX	Exit	Chevron Corp	$0	–	-11,027	–	-0.79%	–
IYH	Exit	iShares Tr DJ US Healthcaredj us healthcr	$0	–	-12,821	–	-0.81%	–
IYF	Exit	iShares Tr DJ US Financial Secdj us finl sec	$0	–	-26,508	–	-1.15%	–
D	Exit	Dominion Resources Inc VA	$0	–	-36,215	–	-1.34%	–
IYW	Exit	iShares Tr Index DJ US Tech Sedj us tech sec	$0	–	-31,783	–	-1.48%	–
AEP	Exit	American Electric Power Inc	$0	–	-74,040	–	-1.90%	–
VIG	Exit	Vanguard Specialized Portfoliodiv app etf	$0	–	-66,850	–	-2.75%	–
XOM	Exit	Exxon Mobil Corp	$0	–	-54,784	–	-2.78%	–
DD	Exit	Du Pont E I de Nemours & Co	$0	–	-81,685	–	-2.83%	–
QCOM	Exit	Qualcomm Inc	$0	–	-72,355	–	-2.88%	–
IBM	Exit	International Business Machine	$0	–	-26,520	–	-2.90%	–
T	Exit	AT&T Inc	$0	–	-156,354	–	-3.12%	–
EMC	Exit	EMC Corp MA	$0	–	-207,195	–	-3.13%	–
CMCSA	Exit	Comcast Corp Cl A	$0	–	-120,970	–	-3.22%	–
ACE	Exit	Ace Ltd	$0	–	-59,926	–	-3.31%	–
PEP	Exit	PepsiCo Inc	$0	–	-71,060	–	-3.34%	–
MPC	Exit	Marathon Petroleum Corp	$0	–	-90,979	–	-3.46%	–
UPS	Exit	United Parcel Service Inc Cl B	$0	–	-64,890	–	-3.50%	–
BLK	Exit	BlackRock Inc	$0	–	-22,167	–	-3.54%	–
INTC	Exit	Intel Corp	$0	–	-262,083	–	-3.55%	–
TGT	Exit	Target Corp	$0	–	-93,955	–	-3.55%	–
GE	Exit	General Electric Co	$0	–	-256,965	–	-3.63%	–
KRFT	Exit	Kraft Foods Group Inc	$0	–	-119,316	–	-3.70%	–
USB	Exit	US Bancorp Del	$0	–	-172,785	–	-3.73%	–
AAPL	Exit	Apple Inc	$0	–	-13,564	–	-3.82%	–
MRO	Exit	Marathon Oil Corp	$0	–	-185,714	–	-3.83%	–
MRK	Exit	Merck & Co Inc	$0	–	-141,273	–	-3.97%	–
JPM	Exit	JPMorgan Chase & Co	$0	–	-130,124	–	-3.97%	–
PFE	Exit	Pfizer Inc	$0	–	-238,675	–	-4.05%	–
V	Exit	Visa Inc Cl A	$0	–	-36,577	–	-4.13%	–
UTX	Exit	United Technologies Corp	$0	–	-68,105	–	-4.34%	–

Q3 2013

			Value		Shares		↓ Weighting
UTX	Sell	United Technologies Corp	$7,343,000	+15.8%	68,105	-0.2%	4.34%	+10.7%
V	Sell	Visa Inc Cl A	$6,990,000	+3.8%	36,577	-0.7%	4.13%	-0.8%
PFE	Sell	Pfizer Inc	$6,856,000	+0.2%	238,675	-2.3%	4.05%	-4.2%
MRK	Sell	Merck & Co Inc	$6,726,000	+1.7%	141,273	-0.8%	3.97%	-2.8%
JPM	Sell	JPMorgan Chase & Co	$6,726,000	-2.8%	130,124	-0.7%	3.97%	-7.1%
MRO	Buy	Marathon Oil Corp	$6,478,000	+1.1%	185,714	+0.3%	3.83%	-3.4%
AAPL	Sell	Apple Inc	$6,467,000	+18.4%	13,564	-1.5%	3.82%	+13.2%
USB	Buy	US Bancorp Del	$6,320,000	+1.3%	172,785	+0.1%	3.73%	-3.2%
KRFT	Sell	Kraft Foods Group Inc	$6,262,000	-6.9%	119,316	-0.9%	3.70%	-11.1%
GE	Sell	General Electric Co	$6,139,000	+0.5%	256,965	-2.4%	3.63%	-3.9%
TGT	Buy	Target Corp	$6,011,000	-6.7%	93,955	+0.4%	3.55%	-10.8%
INTC	Buy	Intel Corp	$6,007,000	-5.0%	262,083	+0.4%	3.55%	-9.2%
BLK	Buy	BlackRock Inc	$5,999,000	+5.7%	22,167	+0.3%	3.54%	+1.0%
UPS	Buy	United Parcel Service Inc Cl B	$5,929,000	+6.0%	64,890	+0.3%	3.50%	+1.3%
MPC	Buy	Marathon Petroleum Corp	$5,852,000	-8.8%	90,979	+0.8%	3.46%	-12.8%
PEP	Buy	PepsiCo Inc	$5,649,000	-2.7%	71,060	+0.1%	3.34%	-7.0%
ACE	New	Ace Ltd	$5,607,000	–	59,926	–	3.31%	–
CMCSA	New	Comcast Corp Cl A	$5,458,000	–	120,970	–	3.22%	–
EMC	Buy	EMC Corp MA	$5,296,000	+10.5%	207,195	+2.1%	3.13%	+5.6%
T	Sell	AT&T Inc	$5,288,000	-4.6%	156,354	-0.1%	3.12%	-8.8%
IBM	Buy	International Business Machine	$4,911,000	-1.7%	26,520	+1.4%	2.90%	-6.1%
QCOM	Buy	Qualcomm Inc	$4,871,000	+13.4%	72,355	+2.9%	2.88%	+8.4%
DD	Buy	Du Pont E I de Nemours & Co	$4,783,000	+12.1%	81,685	+0.5%	2.83%	+7.1%
XOM	Buy	Exxon Mobil Corp	$4,714,000	-4.6%	54,784	+0.2%	2.78%	-8.9%
VIG	New	Vanguard Specialized Portfoliodiv app etf	$4,653,000	–	66,850	–	2.75%	–
AEP	Sell	American Electric Power Inc	$3,210,000	-9.6%	74,040	-6.6%	1.90%	-13.6%
IYW	Sell	iShares Tr Index DJ US Tech Sedj us tech sec	$2,505,000	+6.0%	31,783	-1.0%	1.48%	+1.2%
D	Buy	Dominion Resources Inc VA	$2,263,000	+10.0%	36,215	+0.0%	1.34%	+5.1%
IYF	Sell	iShares Tr DJ US Financial Secdj us finl sec	$1,943,000	+1.5%	26,508	-1.0%	1.15%	-3.0%
IYH	Buy	iShares Tr DJ US Healthcaredj us healthcr	$1,371,000	+12.4%	12,821	+5.3%	0.81%	+7.4%
CVX	Buy	Chevron Corp	$1,340,000	+21.3%	11,027	+18.1%	0.79%	+16.0%
IYJ	Buy	iShares Tr Index DJ US Industrdj us industrl	$1,198,000	+58.0%	13,236	+44.8%	0.71%	+51.0%
IYE	Sell	iShares Tr DJ US Energydj us energy	$1,179,000	-11.4%	25,023	-16.2%	0.70%	-15.3%
IYK	Sell	iShares Tr Consumer Goods Indecons goods idx	$1,008,000	+1.9%	11,284	-1.1%	0.60%	-2.8%
IYC	Sell	iShares Tr Consumer Services Icons srvc idx	$988,000	-2.9%	8,982	-9.5%	0.58%	-7.2%
DON	Buy	WisdomTree Trust Mid Cap Div Fmidcap divi fd	$682,000	+23.8%	9,810	+16.6%	0.40%	+18.2%
C	Sell	Citigroup Inc	$614,000	-30.1%	12,661	-30.9%	0.36%	-33.1%
DWM	Buy	WisdomTree Trust DEFA Funddefa fd	$587,000	+62.6%	11,347	+44.6%	0.35%	+55.6%
DES	Buy	WisdomTree Trust Small Cap Divsmallcap divid	$552,000	+40.8%	8,820	+31.2%	0.33%	+34.7%
IWF	Buy	iShares Tr Russell 1000 Growthrussell1000grw	$525,000	+26.2%	6,715	+17.5%	0.31%	+20.6%
IWD	Buy	iShares Tr Russell 1000 Valuerussell1000val	$523,000	+20.8%	6,070	+17.4%	0.31%	+15.3%
DVY	Buy	iShares Tr DJ Select Div Indexdj sel div inx	$520,000	+21.8%	7,840	+17.6%	0.31%	+16.3%
DGS	Buy	WisdomTree Trust Emerg Mkt Smaemg mkts smcap	$266,000	+23.1%	5,700	+21.3%	0.16%	+17.2%
IYZ	Sell	iShares Tr DJ US Telecom	$216,000	-27.0%	7,834	-31.6%	0.13%	-30.1%
VTV	New	Vanguard Index Funds Value ETFvalue etf	$201,000	–	2,875	–	0.12%	–
LUMN	Exit	Centurylink Inc	$0	–	-146,679	–	-3.21%	–
MCD	Exit	McDonalds Corp	$0	–	-66,413	–	-4.06%	–

Q2 2013

			Value		Shares		↓ Weighting
JPM	New	JPMorgan Chase & Co	$6,918,000	–	131,039	–	4.28%	–
PFE	New	Pfizer Inc	$6,840,000	–	244,200	–	4.23%	–
V	New	Visa Inc Cl A	$6,732,000	–	36,837	–	4.16%	–
KRFT	New	Kraft Foods Group Inc	$6,728,000	–	120,419	–	4.16%	–
MRK	New	Merck & Co Inc	$6,613,000	–	142,378	–	4.09%	–
MCD	New	McDonalds Corp	$6,575,000	–	66,413	–	4.06%	–
TGT	New	Target Corp	$6,441,000	–	93,535	–	3.98%	–
MPC	New	Marathon Petroleum Corp	$6,414,000	–	90,265	–	3.97%	–
MRO	New	Marathon Oil Corp	$6,405,000	–	185,224	–	3.96%	–
UTX	New	United Technologies Corp	$6,339,000	–	68,210	–	3.92%	–
INTC	New	Intel Corp	$6,324,000	–	260,988	–	3.91%	–
USB	New	US Bancorp Del	$6,238,000	–	172,545	–	3.86%	–
GE	New	General Electric Co	$6,106,000	–	263,285	–	3.78%	–
PEP	New	PepsiCo Inc	$5,806,000	–	70,982	–	3.59%	–
BLK	New	BlackRock Inc	$5,675,000	–	22,096	–	3.51%	–
UPS	New	United Parcel Service Inc Cl B	$5,593,000	–	64,675	–	3.46%	–
T	New	AT&T Inc	$5,541,000	–	156,534	–	3.43%	–
AAPL	New	Apple Inc	$5,460,000	–	13,769	–	3.38%	–
LUMN	New	Centurylink Inc	$5,185,000	–	146,679	–	3.21%	–
IBM	New	International Business Machine	$4,998,000	–	26,150	–	3.09%	–
XOM	New	Exxon Mobil Corp	$4,942,000	–	54,700	–	3.06%	–
EMC	New	EMC Corp MA	$4,791,000	–	202,840	–	2.96%	–
QCOM	New	Qualcomm Inc	$4,295,000	–	70,300	–	2.66%	–
DD	New	Du Pont E I de Nemours & Co	$4,267,000	–	81,270	–	2.64%	–
AEP	New	American Electric Power Inc	$3,549,000	–	79,265	–	2.19%	–
IYW	New	iShares Tr Index DJ US Tech Sedj us tech sec	$2,364,000	–	32,107	–	1.46%	–
D	New	Dominion Resources Inc VA	$2,057,000	–	36,210	–	1.27%	–
IYF	New	iShares Tr DJ US Financial Secdj us finl sec	$1,915,000	–	26,774	–	1.18%	–
IYE	New	iShares Tr DJ US Energydj us energy	$1,330,000	–	29,878	–	0.82%	–
IYH	New	iShares Tr DJ US Healthcaredj us healthcr	$1,220,000	–	12,179	–	0.75%	–
CVX	New	Chevron Corp	$1,105,000	–	9,337	–	0.68%	–
IYC	New	iShares Tr Consumer Services Icons srvc idx	$1,018,000	–	9,930	–	0.63%	–
IYK	New	iShares Tr Consumer Goods Indecons goods idx	$989,000	–	11,404	–	0.61%	–
C	New	Citigroup Inc	$878,000	–	18,311	–	0.54%	–
IYJ	New	iShares Tr Index DJ US Industrdj us industrl	$758,000	–	9,143	–	0.47%	–
DON	New	WisdomTree Trust Mid Cap Div Fmidcap divi fd	$551,000	–	8,410	–	0.34%	–
IWD	New	iShares Tr Russell 1000 Valuerussell1000val	$433,000	–	5,170	–	0.27%	–
DVY	New	iShares Tr DJ Select Div Indexdj sel div inx	$427,000	–	6,665	–	0.26%	–
IWF	New	iShares Tr Russell 1000 Growthrussell1000grw	$416,000	–	5,715	–	0.26%	–
DES	New	WisdomTree Trust Small Cap Divsmallcap divid	$392,000	–	6,720	–	0.24%	–
DWM	New	WisdomTree Trust DEFA Funddefa fd	$361,000	–	7,847	–	0.22%	–
IYZ	New	iShares Tr DJ US Telecom	$296,000	–	11,458	–	0.18%	–
VUG	New	Vanguard Index Funds Growth ETgrowth etf	$231,000	–	2,950	–	0.14%	–
DGS	New	WisdomTree Trust Emerg Mkt Smaemg mkts smcap	$216,000	–	4,700	–	0.13%	–

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