Independence Advisors, LLC Activity Q2 2016-Q3 2020

Q3 2020

			Value		Shares		↓ Weighting
VTV	Buy	VANGUARD INDEX FDSvalue etf	$57,299,000	+9.7%	548,263	+4.5%	12.30%	+2.8%
IWF	Sell	ISHARES TRrus 1000 grw etf	$56,072,000	+9.4%	258,527	-3.2%	12.03%	+2.5%
VUG	Sell	VANGUARD INDEX FDSgrowth etf	$54,949,000	+6.5%	241,418	-5.5%	11.79%	-0.2%
EFA	Buy	ISHARES TRmsci eafe etf	$53,508,000	+9.8%	840,660	+5.0%	11.48%	+2.9%
IVW	Sell	ISHARES TRs&p 500 grwt etf	$34,165,000	+7.5%	147,850	-3.4%	7.33%	+0.8%
BIV	Buy	VANGUARD BD INDEX FDSintermed term	$28,340,000	+1.2%	303,165	+0.9%	6.08%	-5.2%
IVE	Sell	ISHARES TRs&p 500 val etf	$15,131,000	+3.0%	134,559	-0.9%	3.25%	-3.4%
IWD	Sell	ISHARES TRrus 1000 val etf	$14,652,000	+3.9%	124,033	-0.9%	3.14%	-2.6%
EFV	Sell	ISHARES TReafe value etf	$13,570,000	-0.4%	336,310	-1.4%	2.91%	-6.7%
SUB	Sell	ISHARES TRshrt nat mun etf	$11,135,000	-1.3%	103,005	-1.5%	2.39%	-7.4%
MUB	Sell	ISHARES TRnational mun etf	$7,847,000	-3.3%	67,685	-3.7%	1.68%	-9.4%
VEA	Buy	VANGUARD TAX-MANAGED INTL FDftse dev mkt etf	$7,042,000	+8.2%	172,171	+2.6%	1.51%	+1.4%
VOO	Sell	VANGUARD INDEX FDS	$6,765,000	+7.5%	21,988	-1.0%	1.45%	+0.7%
AAPL	Buy	APPLE INC	$6,421,000	+27.4%	55,445	+301.4%	1.38%	+19.4%
VTEB	Sell	VANGUARD MUN BD FDStax exempt bd	$6,179,000	-0.4%	113,507	-1.0%	1.33%	-6.7%
VBR	Sell	VANGUARD INDEX FDSsm cp val etf	$6,070,000	-1.6%	54,867	-4.9%	1.30%	-7.8%
IJS	Sell	ISHARES TRsp smcp600vl etf	$5,808,000	+1.0%	47,444	-0.6%	1.25%	-5.2%
VWO	Sell	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$5,657,000	+8.0%	130,833	-1.1%	1.21%	+1.2%
SCZ	Sell	ISHARES TReafe sml cp etf	$5,367,000	+9.7%	90,989	-0.3%	1.15%	+2.9%
VBK	Sell	VANGUARD INDEX FDSsml cp grw etf	$4,944,000	+6.3%	23,002	-1.3%	1.06%	-0.4%
VSS	Sell	VANGUARD INTL EQUITY INDEX Fftse smcap etf	$4,629,000	+2.5%	43,964	-5.9%	0.99%	-4.0%
MCD	Buy	MCDONALDS CORP	$4,532,000	+19.3%	20,649	+0.2%	0.97%	+11.8%
IWN	Buy	ISHARES TRrus 2000 val etf	$3,185,000	+2.4%	32,066	+0.5%	0.68%	-3.9%
EEM	Sell	ISHARES TRmsci emg mkt etf	$2,771,000	+8.7%	62,850	-1.4%	0.60%	+1.9%
IWM	Sell	ISHARES TRrussell 2000 etf	$2,440,000	+2.0%	16,292	-2.4%	0.52%	-4.4%
VNQI	Buy	VANGUARD INTL EQUITY INDEX Fglb ex us etf	$1,442,000	+31.4%	29,668	+26.1%	0.31%	+23.1%
WTRG	Sell	ESSENTIAL UTILS INC	$1,402,000	-5.4%	34,822	-0.8%	0.30%	-11.2%
VNQ	Sell	VANGUARD INDEX FDSreal estate etf	$1,240,000	-1.3%	15,698	-1.8%	0.27%	-7.6%
JNJ	Sell	JOHNSON & JOHNSON	$1,067,000	+5.1%	7,170	-0.6%	0.23%	-1.3%
V	Buy	VISA INC	$1,020,000	+8.6%	5,102	+4.9%	0.22%	+1.9%
GOOGL	Sell	ALPHABET INCcap stk cl a	$959,000	-0.4%	654	-3.7%	0.21%	-6.8%
GOOG	Sell	ALPHABET INCcap stk cl c	$957,000	-10.8%	651	-14.2%	0.20%	-16.7%
VV	Sell	VANGUARD INDEX FDSlarge cap etf	$916,000	+7.6%	5,854	-1.7%	0.20%	+1.0%
AMZN	Buy	AMAZON COM INC	$765,000	+35.9%	243	+19.1%	0.16%	+27.1%
MRK	Sell	MERCK & CO. INC	$628,000	+4.0%	7,567	-3.2%	0.14%	-2.2%
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$567,000	–	2,661	–	0.12%	–
WMT	Buy	WALMART INC	$560,000	+17.2%	3,999	+0.2%	0.12%	+10.1%
ORCL	Sell	ORACLE CORP	$503,000	+0.6%	8,428	-6.9%	0.11%	-6.1%
DIS	Sell	DISNEY WALT CO	$490,000	+9.6%	3,953	-1.4%	0.10%	+2.9%
CMCSA	Sell	COMCAST CORP NEWcl a	$486,000	+18.2%	10,511	-0.3%	0.10%	+10.6%
VDE	Buy	VANGUARD WORLD FDSenergy etf	$393,000	-19.5%	9,744	+0.4%	0.08%	-25.0%
ZTS	Buy	ZOETIS INCcl a	$380,000	+21.0%	2,299	+0.3%	0.08%	+13.9%
ABBV	Buy	ABBVIE INC	$344,000	-10.4%	3,929	+0.4%	0.07%	-15.9%
KO	Sell	COCA COLA CO	$322,000	-2.7%	6,532	-11.8%	0.07%	-9.2%
VT	Sell	VANGUARD INTL EQUITY INDEX Ftt wrld st etf	$313,000	+4.0%	3,884	-3.4%	0.07%	-2.9%
APD	Sell	AIR PRODS & CHEMS INC	$310,000	+12.3%	1,042	-8.8%	0.07%	+6.3%
VTI	Buy	VANGUARD INDEX FDStotal stk mkt	$303,000	+9.0%	1,777	+0.1%	0.06%	+1.6%
IWB	Sell	ISHARES TRrus 1000 etf	$297,000	+3.5%	1,587	-5.0%	0.06%	-3.0%
UNH	Buy	UNITEDHEALTH GROUP INC	$300,000	+6.8%	963	+1.0%	0.06%	0.0%
HON	Buy	HONEYWELL INTL INC	$292,000	+15.4%	1,773	+1.3%	0.06%	+8.6%
XLK	Sell	SELECT SECTOR SPDR TRtechnology	$286,000	+6.3%	2,453	-4.7%	0.06%	-1.6%
CVX	Buy	CHEVRON CORP NEW	$275,000	-15.9%	3,823	+4.4%	0.06%	-21.3%
IBM	Sell	INTERNATIONAL BUSINESS MACHS	$270,000	-8.8%	2,217	-9.7%	0.06%	-14.7%
VCIT	New	VANGUARD SCOTTSDALE FDSint-term corp	$270,000	–	2,819	–	0.06%	–
XOM	Buy	EXXON MOBIL CORP	$267,000	-21.9%	7,769	+1.5%	0.06%	-26.9%
BKNG	Sell	BOOKING HOLDINGS INC	$265,000	-3.3%	155	-9.9%	0.06%	-9.5%
PGR	Buy	PROGRESSIVE CORP	$263,000	+29.6%	2,773	+9.7%	0.06%	+21.7%
AGG	Sell	ISHARES TRcore us aggbd et	$249,000	-0.4%	2,111	-0.3%	0.05%	-7.0%
TJX	Sell	TJX COS INC NEW	$234,000	+8.3%	4,208	-1.4%	0.05%	+2.0%
LLY	Sell	LILLY ELI & CO	$226,000	-11.0%	1,527	-1.3%	0.05%	-15.5%
ANVS	New	ANNOVIS BIO INC	$219,000	–	45,598	–	0.05%	–
TSLA	New	TESLA INC	$218,000	–	508	–	0.05%	–
NFLX	New	NETFLIX INC	$216,000	–	431	–	0.05%	–
MKC	New	MCCORMICK & CO INC	$211,000	–	1,086	–	0.04%	–
BMY	Buy	BRISTOL-MYERS SQUIBB CO	$207,000	+2.5%	3,433	+0.2%	0.04%	-4.3%
MOV	Buy	MOVADO GROUP INC	$163,000	+37.0%	16,444	+50.4%	0.04%	+29.6%
XLV	Sell	SELECT SECTOR SPDR TRsbi healthcare	$105,000	+1.9%	1,000	-2.8%	0.02%	-4.2%
TIP	Sell	ISHARES TRtips bd etf	$95,000	0.0%	748	-3.0%	0.02%	-9.1%
GDX	New	VANECK VECTORS ETF TRgold miners etf	$93,000	–	2,379	–	0.02%	–
GDXJ	New	VANECK VECTORS ETF TRjr gold miners e	$87,000	–	1,564	–	0.02%	–
XLY	Sell	SELECT SECTOR SPDR TRsbi cons discr	$88,000	+10.0%	600	-3.8%	0.02%	+5.6%
XLF	Sell	SELECT SECTOR SPDR TRsbi int-finl	$75,000	-25.0%	3,127	-27.9%	0.02%	-30.4%
IJH	Sell	ISHARES TRcore s&p mcp etf	$75,000	-32.4%	406	-34.8%	0.02%	-36.0%
ICF	Buy	ISHARES TRcohen steer reit	$76,000	+1.3%	747	+0.1%	0.02%	-5.9%
IEFA	Buy	ISHARES TRcore msci eafe	$72,000	+33.3%	1,194	+26.9%	0.02%	+25.0%
XLI	Buy	SELECT SECTOR SPDR TRsbi int-inds	$65,000	+27.5%	841	+13.2%	0.01%	+16.7%
SCHZ	Buy	SCHWAB STRATEGIC TRus aggregate b	$58,000	+241.2%	1,028	+243.8%	0.01%	+200.0%
MBB	Buy	ISHARES TRmbs etf	$50,000	+13.6%	451	+14.2%	0.01%	+10.0%
VEU	Sell	VANGUARD INTL EQUITY INDEX Fallwrld ex us	$53,000	+3.9%	1,055	-0.8%	0.01%	-8.3%
LQD	Buy	ISHARES TRiboxx inv cp etf	$47,000	+6.8%	350	+6.7%	0.01%	0.0%
SCHB	Buy	SCHWAB STRATEGIC TRus brd mkt etf	$42,000	+16.7%	528	+6.2%	0.01%	+12.5%
XLE	Buy	SELECT SECTOR SPDR TRenergy	$35,000	-18.6%	1,157	+1.7%	0.01%	-20.0%
IGSB	Buy	ISHARES TR	$32,000	0.0%	591	+0.7%	0.01%	0.0%
SCHO	Buy	SCHWAB STRATEGIC TRsht tm us tres	$28,000	+211.1%	547	+229.5%	0.01%	+200.0%
XLP	Sell	SELECT SECTOR SPDR TRsbi cons stpls	$25,000	-24.2%	385	-32.5%	0.01%	-37.5%
VCSH	New	VANGUARD SCOTTSDALE FDSshrt trm corp bd	$24,000	–	292	–	0.01%	–
RSX	New	VANECK VECTORS ETF TRrussia etf	$22,000	–	1,035	–	0.01%	–
IEI	Buy	ISHARES TR3 7 yr treas bd	$24,000	+9.1%	180	+8.4%	0.01%	0.0%
AAXJ	Buy	ISHARES TRmsci ac asia etf	$23,000	+228.6%	302	+184.9%	0.01%	+150.0%
IYW	Sell	ISHARES TRu.s. tech etf	$15,000	-44.4%	49	-50.5%	0.00%	-50.0%
SCHF	Buy	SCHWAB STRATEGIC TRintl eqty etf	$11,000	+10.0%	335	+3.4%	0.00%	0.0%
XLU	Sell	SELECT SECTOR SPDR TRsbi int-utils	$10,000	-16.7%	162	-21.0%	0.00%	-33.3%
TLT	Buy	ISHARES TR20 yr tr bd etf	$9,000	+12.5%	54	+10.2%	0.00%	0.0%
SCHE	Buy	SCHWAB STRATEGIC TRemrg mkteq etf	$10,000	+25.0%	356	+2.9%	0.00%	0.0%
SCHH	Buy	SCHWAB STRATEGIC TRus reit etf	$2,000	+100.0%	52	+40.5%	0.00%	–
SCHQ	New	SCHWAB STRATEGIC TRlong term us	$2,000	–	37	–	0.00%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-10,436	–	-0.02%	–
PHYS	Exit	SPROTT PHYSICAL GOLD TRunit	$0	–	-11,027	–	-0.04%	–
RPM	Exit	RPM INTL INC	$0	–	-2,748	–	-0.05%	–
CSCO	Exit	CISCO SYS INC	$0	–	-4,611	–	-0.05%	–
ADP	Exit	AUTOMATIC DATA PROCESSING IN	$0	–	-1,421	–	-0.05%	–

Q2 2020

			Value		Shares		↓ Weighting
VTV	New	VANGUARD INDEX FDSvalue etf	$52,231,000	–	524,465	–	11.96%	–
VUG	New	VANGUARD INDEX FDSgrowth etf	$51,614,000	–	255,401	–	11.82%	–
IWF	New	ISHARES TRrus 1000 grw etf	$51,263,000	–	267,064	–	11.74%	–
EFA	New	ISHARES TRmsci eafe etf	$48,724,000	–	800,459	–	11.16%	–
IVW	New	ISHARES TRs&p 500 grwt etf	$31,768,000	–	153,108	–	7.28%	–
BIV	New	VANGUARD BD INDEX FDSintermed term	$28,001,000	–	300,470	–	6.41%	–
IVE	New	ISHARES TRs&p 500 val etf	$14,686,000	–	135,716	–	3.36%	–
IWD	New	ISHARES TRrus 1000 val etf	$14,099,000	–	125,191	–	3.23%	–
EFV	New	ISHARES TReafe value etf	$13,628,000	–	340,956	–	3.12%	–
SUB	New	ISHARES TRshrt nat mun etf	$11,276,000	–	104,547	–	2.58%	–
MUB	New	ISHARES TRnational mun etf	$8,115,000	–	70,321	–	1.86%	–
VEA	New	VANGUARD TAX-MANAGED FDSftse dev mkt etf	$6,508,000	–	167,763	–	1.49%	–
VOO	New	VANGUARD INDEX FDS	$6,295,000	–	22,211	–	1.44%	–
VTEB	New	VANGUARD MUN BD FDStax exempt bd	$6,205,000	–	114,618	–	1.42%	–
VBR	New	VANGUARD INDEX FDSsm cp val etf	$6,171,000	–	57,716	–	1.41%	–
IJS	New	ISHARES TRsp smcp600vl etf	$5,748,000	–	47,750	–	1.32%	–
VWO	New	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$5,238,000	–	132,237	–	1.20%	–
AAPL	New	APPLE INC	$5,039,000	–	13,814	–	1.15%	–
SCZ	New	ISHARES TReafe sml cp etf	$4,892,000	–	91,240	–	1.12%	–
VBK	New	VANGUARD INDEX FDSsml cp grw etf	$4,651,000	–	23,302	–	1.06%	–
VSS	New	VANGUARD INTL EQUITY INDEX Fftse smcap etf	$4,514,000	–	46,715	–	1.03%	–
MCD	New	MCDONALDS CORP	$3,800,000	–	20,601	–	0.87%	–
PPG	New	PPG INDS INC	$3,202,000	–	30,191	–	0.73%	–
IWN	New	ISHARES TRrus 2000 val etf	$3,109,000	–	31,896	–	0.71%	–
MSFT	New	MICROSOFT CORP	$2,582,000	–	12,686	–	0.59%	–
EEM	New	ISHARES TRmsci emg mkt etf	$2,550,000	–	63,771	–	0.58%	–
IWM	New	ISHARES TRrussell 2000 etf	$2,391,000	–	16,696	–	0.55%	–
SHM	New	SPDR SER TRnuveen blmbrg sr	$2,237,000	–	44,850	–	0.51%	–
BMTC	New	BRYN MAWR BK CORP	$1,637,000	–	59,168	–	0.38%	–
WTRG	New	ESSENTIAL UTILS INC	$1,482,000	–	35,092	–	0.34%	–
PFE	New	PFIZER INC	$1,353,000	–	41,374	–	0.31%	–
VNQ	New	VANGUARD INDEX FDSreal estate etf	$1,256,000	–	15,989	–	0.29%	–
VNQI	New	VANGUARD INTL EQUITY INDEX Fglb ex us etf	$1,097,000	–	23,520	–	0.25%	–
GOOG	New	ALPHABET INCcap stk cl c	$1,073,000	–	759	–	0.25%	–
JNJ	New	JOHNSON & JOHNSON	$1,015,000	–	7,215	–	0.23%	–
TFI	New	SPDR SER TRnuveen brc munic	$978,000	–	18,930	–	0.22%	–
GOOGL	New	ALPHABET INCcap stk cl a	$963,000	–	679	–	0.22%	–
CL	New	COLGATE PALMOLIVE CO	$950,000	–	12,963	–	0.22%	–
V	New	VISA INC	$939,000	–	4,862	–	0.22%	–
VV	New	VANGUARD INDEX FDSlarge cap etf	$851,000	–	5,954	–	0.20%	–
AMGN	New	AMGEN INC	$788,000	–	3,340	–	0.18%	–
MA	New	MASTERCARD INCORPORATEDcl a	$722,000	–	2,443	–	0.16%	–
IVV	New	ISHARES TRcore s&p500 etf	$706,000	–	2,279	–	0.16%	–
MRK	New	MERCK & CO. INC	$604,000	–	7,815	–	0.14%	–
BSV	New	VANGUARD BD INDEX FDSshort trm bond	$601,000	–	7,232	–	0.14%	–
CSX	New	CSX CORP	$599,000	–	8,592	–	0.14%	–
AMZN	New	AMAZON COM INC	$563,000	–	204	–	0.13%	–
ORCL	New	ORACLE CORP	$500,000	–	9,054	–	0.12%	–
VDE	New	VANGUARD WORLD FDSenergy etf	$488,000	–	9,705	–	0.11%	–
WMT	New	WALMART INC	$478,000	–	3,992	–	0.11%	–
HD	New	HOME DEPOT INC	$448,000	–	1,790	–	0.10%	–
DIS	New	DISNEY WALT CO	$447,000	–	4,011	–	0.10%	–
BND	New	VANGUARD BD INDEX FDStotal bnd mrkt	$431,000	–	4,874	–	0.10%	–
CMCSA	New	COMCAST CORP NEWcl a	$411,000	–	10,543	–	0.09%	–
MEAR	New	ISHARES U S ETF TRsht mat mun etf	$401,000	–	7,995	–	0.09%	–
TFX	New	TELEFLEX INCORPORATED	$391,000	–	1,074	–	0.09%	–
ABBV	New	Abbvie Inc	$384,000	–	3,912	–	0.09%	–
COST	New	COSTCO WHSL CORP NEW	$381,000	–	1,258	–	0.09%	–
INTU	New	INTUIT	$347,000	–	1,172	–	0.08%	–
XOM	New	EXXON MOBIL CORP	$342,000	–	7,657	–	0.08%	–
VRSN	New	VERISIGN INC	$336,000	–	1,623	–	0.08%	–
KO	New	COCA COLA CO	$331,000	–	7,408	–	0.08%	–
CVX	New	CHEVRON CORP NEW	$327,000	–	3,663	–	0.08%	–
ISRG	New	INTUITIVE SURGICAL INC	$320,000	–	562	–	0.07%	–
ZTS	New	ZOETIS INCcl a	$314,000	–	2,293	–	0.07%	–
NKE	New	NIKE INCcl b	$312,000	–	3,186	–	0.07%	–
VT	New	VANGUARD INTL EQUITY INDEX Ftt wrld st etf	$301,000	–	4,022	–	0.07%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$296,000	–	2,454	–	0.07%	–
IWB	New	ISHARES TRrus 1000 etf	$287,000	–	1,671	–	0.07%	–
VTI	New	VANGUARD INDEX FDStotal stk mkt	$278,000	–	1,776	–	0.06%	–
UNH	New	UNITEDHEALTH GROUP INC	$281,000	–	953	–	0.06%	–
BKNG	New	BOOKING HOLDINGS INC	$274,000	–	172	–	0.06%	–
APD	New	AIR PRODS & CHEMS INC	$276,000	–	1,142	–	0.06%	–
XLK	New	SELECT SECTOR SPDR TRtechnology	$269,000	–	2,573	–	0.06%	–
SCHX	New	SCHWAB STRATEGIC TRus lrg cap etf	$266,000	–	3,588	–	0.06%	–
KSU	New	KANSAS CITY SOUTHERN	$266,000	–	1,783	–	0.06%	–
IJT	New	ISHARES TRs&p sml 600 gwt	$264,000	–	1,553	–	0.06%	–
TRV	New	TRAVELERS COMPANIES INC	$259,000	–	2,274	–	0.06%	–
LLY	New	LILLY ELI & CO	$254,000	–	1,547	–	0.06%	–
HON	New	HONEYWELL INTL INC	$253,000	–	1,751	–	0.06%	–
AGG	New	ISHARES TRcore us aggbd et	$250,000	–	2,118	–	0.06%	–
WSFS	New	WSFS FINL CORP	$249,000	–	8,692	–	0.06%	–
BA	New	BOEING CO	$245,000	–	1,338	–	0.06%	–
TXN	New	TEXAS INSTRS INC	$235,000	–	1,848	–	0.05%	–
FB	New	FACEBOOK INCcl a	$228,000	–	1,002	–	0.05%	–
ABT	New	ABBOTT LABS	$221,000	–	2,417	–	0.05%	–
CCI	New	CROWN CASTLE INTL CORP NEW	$220,000	–	1,316	–	0.05%	–
PEP	New	PEPSICO INC	$213,000	–	1,609	–	0.05%	–
TJX	New	TJX COS INC NEW	$216,000	–	4,269	–	0.05%	–
ADP	New	AUTOMATIC DATA PROCESSING IN	$212,000	–	1,421	–	0.05%	–
CSCO	New	CISCO SYS INC	$215,000	–	4,611	–	0.05%	–
GPN	New	GLOBAL PMTS INC	$214,000	–	1,260	–	0.05%	–
VZ	New	VERIZON COMMUNICATIONS INC	$208,000	–	3,781	–	0.05%	–
RPM	New	RPM INTL INC	$206,000	–	2,748	–	0.05%	–
NVO	New	NOVO-NORDISK A Sadr	$204,000	–	3,115	–	0.05%	–
BMY	New	BRISTOL-MYERS SQUIBB CO	$202,000	–	3,427	–	0.05%	–
PGR	New	PROGRESSIVE CORP OHIO	$203,000	–	2,528	–	0.05%	–
AXDX	New	Accelerate Diagnostics Inc	$197,000	–	13,000	–	0.04%	–
IWO	New	ISHARES TRrus 2000 grw etf	$193,000	–	933	–	0.04%	–
PHYS	New	SPROTT PHYSICAL GOLD TRunit	$158,000	–	11,027	–	0.04%	–
IXUS	New	ISHARES TRcore msci total	$146,000	–	2,669	–	0.03%	–
MOV	New	Movado Group Inc	$119,000	–	10,935	–	0.03%	–
IBB	New	ISHARES TRnasdaq biotech	$115,000	–	840	–	0.03%	–
BE	New	BLOOM ENERGY CORP	$113,000	–	10,348	–	0.03%	–
IJH	New	ISHARES TRcore s&p mcp etf	$111,000	–	623	–	0.02%	–
XLV	New	SELECT SECTOR SPDR TRsbi healthcare	$103,000	–	1,029	–	0.02%	–
XLF	New	SELECT SECTOR SPDR TRsbi int-finl	$100,000	–	4,336	–	0.02%	–
TIP	New	ISHARES TRtips bd etf	$95,000	–	771	–	0.02%	–
ITA	New	ISHARES TRus aer def etf	$82,000	–	501	–	0.02%	–
XLY	New	SELECT SECTOR SPDR TRsbi cons discr	$80,000	–	624	–	0.02%	–
ICF	New	ISHARES TRcohen steer reit	$75,000	–	746	–	0.02%	–
VB	New	VANGUARD INDEX FDSsmall cp etf	$75,000	–	513	–	0.02%	–
GE	New	GENERAL ELECTRIC CO	$71,000	–	10,436	–	0.02%	–
FRBK	New	REPUBLIC FIRST BANCORP INC	$65,000	–	26,597	–	0.02%	–
IGIB	New	ISHARES TRintrm tr crp etf	$54,000	–	901	–	0.01%	–
SHY	New	ISHARES TR1 3 yr treas bd	$53,000	–	607	–	0.01%	–
IEFA	New	ISHARES TRcore msci eafe	$54,000	–	941	–	0.01%	–
VEU	New	VANGUARD INTL EQUITY INDEX Fallwrld ex us	$51,000	–	1,064	–	0.01%	–
XLI	New	SELECT SECTOR SPDR TRsbi int-inds	$51,000	–	743	–	0.01%	–
IWR	New	ISHARES TRrus mid cap etf	$43,000	–	800	–	0.01%	–
LQD	New	ISHARES TRiboxx inv cp etf	$44,000	–	328	–	0.01%	–
SCHA	New	SCHWAB STRATEGIC TRus sml cap etf	$43,000	–	652	–	0.01%	–
XLE	New	SELECT SECTOR SPDR TRenergy	$43,000	–	1,138	–	0.01%	–
MBB	New	ISHARES TRmbs etf	$44,000	–	395	–	0.01%	–
ITOT	New	ISHARES TRcore s&p ttl stk	$45,000	–	650	–	0.01%	–
IWS	New	ISHARES TRrus mdcp val etf	$35,000	–	455	–	0.01%	–
SCHB	New	SCHWAB STRATEGIC TRus brd mkt etf	$36,000	–	497	–	0.01%	–
SCHC	New	SCHWAB STRATEGIC TRintl sceqt etf	$36,000	–	1,209	–	0.01%	–
XLP	New	SELECT SECTOR SPDR TRsbi cons stpls	$33,000	–	570	–	0.01%	–
XLB	New	SELECT SECTOR SPDR TRsbi materials	$29,000	–	519	–	0.01%	–
IGSB	New	ISHARES TRsh tr crport etf	$32,000	–	587	–	0.01%	–
IUSG	New	ISHARES TRcore s&p us gwt	$27,000	–	382	–	0.01%	–
IYW	New	ISHARES TRu.s. tech etf	$27,000	–	99	–	0.01%	–
IJR	New	ISHARES TRcore s&p scp etf	$28,000	–	411	–	0.01%	–
KOPN	New	KOPIN CORP	$27,000	–	20,000	–	0.01%	–
VHT	New	VANGUARD WORLD FDShealth car etf	$27,000	–	138	–	0.01%	–
IEI	New	ISHARES TR3 7 yr treas bd	$22,000	–	166	–	0.01%	–
SCHZ	New	SCHWAB STRATEGIC TRus aggregate b	$17,000	–	299	–	0.00%	–
IWV	New	ISHARES TRrussell 3000 etf	$15,000	–	86	–	0.00%	–
CLRB	New	CELLECTAR BIOSCIENCES INC	$13,000	–	10,000	–	0.00%	–
XLU	New	SELECT SECTOR SPDR TRsbi int-utils	$12,000	–	205	–	0.00%	–
XOP	New	SPDR SER TRs&p oilgas exp	$7,000	–	125	–	0.00%	–
VGK	New	VANGUARD INTL EQUITY INDEX Fftse europe etf	$7,000	–	142	–	0.00%	–
SCHF	New	SCHWAB STRATEGIC TRintl eqty etf	$10,000	–	324	–	0.00%	–
AAXJ	New	ISHARES TRmsci ac asia etf	$7,000	–	106	–	0.00%	–
SCHE	New	SCHWAB STRATEGIC TRemrg mkteq etf	$8,000	–	346	–	0.00%	–
ILCV	New	ISHARES TRmrngstr lg-cp vl	$10,000	–	100	–	0.00%	–
SCHO	New	SCHWAB STRATEGIC TRsht tm us tres	$9,000	–	166	–	0.00%	–
MXI	New	ISHARES TRglobal mater etf	$9,000	–	145	–	0.00%	–
VXF	New	VANGUARD INDEX FDSextend mkt etf	$10,000	–	85	–	0.00%	–
TLT	New	ISHARES TR20 yr tr bd etf	$8,000	–	49	–	0.00%	–
SCHM	New	SCHWAB STRATEGIC TRus mid-cap etf	$4,000	–	83	–	0.00%	–
GSAT	New	GLOBALSTAR INC	$6,000	–	17,136	–	0.00%	–
BMYRT	New	BRISTOL-MYERS SQUIBB COright 99/99/9999	$4,000	–	1,200	–	0.00%	–
IYT	New	ISHARES TRtrans avg etf	$6,000	–	37	–	0.00%	–
VO	New	VANGUARD INDEX FDSmid cap etf	$5,000	–	33	–	0.00%	–
IYR	New	ISHARES TRu.s. real es etf	$5,000	–	63	–	0.00%	–
IJK	New	ISHARES TRs&p mc 400gr etf	$2,000	–	9	–	0.00%	–
SCHG	New	SCHWAB STRATEGIC TRus lcap gr etf	$1,000	–	8	–	0.00%	–
SCHH	New	SCHWAB STRATEGIC TRus reit etf	$1,000	–	37	–	0.00%	–
VOT	New	VANGUARD INDEX FDSmcap gr idxvip	$2,000	–	14	–	0.00%	–
SCHK	New	SCHWAB STRATEGIC TR1000 index etf	$2,000	–	53	–	0.00%	–
IJJ	New	ISHARES TRs&p mc 400vl etf	$2,000	–	14	–	0.00%	–
QUS	New	SPDR SER TRmsci usa strtgic	$2,000	–	19	–	0.00%	–

Q4 2019

			Value		Shares		↓ Weighting
GSAT	Exit	GLOBALSTAR INC	$0	–	-17,136	–	-0.00%	–
KOPN	Exit	KOPIN CORP	$0	–	-20,000	–	-0.00%	–
FRBK	Exit	REPUBLIC FIRST BANCORP INC	$0	–	-26,597	–	-0.03%	–
PHYS	Exit	SPROTT PHYSICAL GOLD TRUSTunit	$0	–	-11,027	–	-0.03%	–
GPN	Exit	GLOBAL PMTS INC	$0	–	-1,260	–	-0.05%	–
C	Exit	CITIGROUP INC	$0	–	-2,889	–	-0.05%	–
USB	Exit	US BANCORP DEL	$0	–	-3,858	–	-0.05%	–
ABT	Exit	ABBOTT LABS	$0	–	-2,531	–	-0.05%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-1,824	–	-0.05%	–
CSCO	Exit	CISCO SYS INC	$0	–	-4,472	–	-0.05%	–
NKE	Exit	NIKE INCcl b	$0	–	-2,362	–	-0.05%	–
MO	Exit	ALTRIA GROUP INC	$0	–	-5,422	–	-0.05%	–
PG	Exit	PROCTER & GAMBLE CO	$0	–	-1,817	–	-0.06%	–
BAC	Exit	BANK AMER CORP	$0	–	-7,778	–	-0.06%	–
ORCL	Exit	ORACLE CORP	$0	–	-4,084	–	-0.06%	–
UNH	Exit	UNITEDHEALTH GROUP INC	$0	–	-1,031	–	-0.06%	–
RPM	Exit	RPM INTL INC	$0	–	-3,408	–	-0.06%	–
KSU	Exit	KANSAS CITY SOUTHERN	$0	–	-1,783	–	-0.06%	–
ZTS	Exit	ZOETIS INCcl a	$0	–	-1,930	–	-0.06%	–
BSV	Exit	VANGUARD BD INDEX FD INCshort trm bond	$0	–	-2,962	–	-0.06%	–
TXN	Exit	TEXAS INSTRS INC	$0	–	-1,848	–	-0.06%	–
AXDX	Exit	ACCELERATE DIAGNOSTICS INC	$0	–	-13,000	–	-0.06%	–
KMB	Exit	KIMBERLY CLARK CORP	$0	–	-1,713	–	-0.06%	–
VOT	Exit	VANGUARD INDEX FDSmcap gr idxvip	$0	–	-1,674	–	-0.06%	–
WFC	Exit	WELLS FARGO CO NEW	$0	–	-5,004	–	-0.06%	–
ADP	Exit	AUTOMATIC DATA PROCESSING IN	$0	–	-1,563	–	-0.06%	–
TJX	Exit	TJX COS INC NEW	$0	–	-4,566	–	-0.06%	–
VZ	Exit	VERIZON COMMUNICATIONS INC	$0	–	-4,353	–	-0.06%	–
SCHX	Exit	SCHWAB STRATEGIC TRus lrg cap etf	$0	–	-3,785	–	-0.06%	–
PEP	Exit	PEPSICO INC	$0	–	-1,985	–	-0.07%	–
XLK	Exit	SELECT SECTOR SPDR TRtechnology	$0	–	-3,354	–	-0.07%	–
BKNG	Exit	BOOKING HLDGS INC	$0	–	-144	–	-0.07%	–
APD	Exit	AIR PRODS & CHEMS INC	$0	–	-1,269	–	-0.07%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-2,029	–	-0.07%	–
AMZN	Exit	AMAZON COM INC	$0	–	-173	–	-0.07%	–
ISRG	Exit	INTUITIVE SURGICAL INC	$0	–	-580	–	-0.08%	–
INTU	Exit	INTUIT	$0	–	-1,172	–	-0.08%	–
VRSN	Exit	VERISIGN INC	$0	–	-1,656	–	-0.08%	–
VCSH	Exit	VANGUARD SCOTTSDALE FDSshrt trm corp bd	$0	–	-3,904	–	-0.08%	–
VCIT	Exit	VANGUARD SCOTTSDALE FDSint-term corp	$0	–	-3,646	–	-0.08%	–
HON	Exit	HONEYWELL INTL INC	$0	–	-1,966	–	-0.08%	–
COST	Exit	COSTCO WHSL CORP NEW	$0	–	-1,154	–	-0.08%	–
TRV	Exit	TRAVELERS COMPANIES INC	$0	–	-2,245	–	-0.08%	–
ABBV	Exit	ABBVIE INC	$0	–	-4,894	–	-0.09%	–
TFX	Exit	TELEFLEX INC	$0	–	-1,108	–	-0.09%	–
WSFS	Exit	WSFS FINL CORP	$0	–	-8,692	–	-0.09%	–
MOV	Exit	MOVADO GROUP INC	$0	–	-15,721	–	-0.10%	–
TIP	Exit	ISHARES TRtips bd etf	$0	–	-3,422	–	-0.10%	–
KO	Exit	COCA COLA CO	$0	–	-7,855	–	-0.10%	–
BND	Exit	VANGUARD BD INDEX FD INCtotal bnd mrkt	$0	–	-5,379	–	-0.11%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-2,237	–	-0.11%	–
WMT	Exit	WALMART INC	$0	–	-3,962	–	-0.11%	–
HD	Exit	HOME DEPOT INC	$0	–	-2,059	–	-0.12%	–
MEAR	Exit	ISHARES US ETF TRsht mat mun etf	$0	–	-9,995	–	-0.12%	–
VTI	Exit	VANGUARD INDEX FDStotal stk mkt	$0	–	-3,487	–	-0.13%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-4,589	–	-0.13%	–
BA	Exit	BOEING CO	$0	–	-1,435	–	-0.13%	–
CMCSA	Exit	COMCAST CORP NEWcl a	$0	–	-12,461	–	-0.14%	–
MA	Exit	MASTERCARD INCcl a	$0	–	-2,171	–	-0.14%	–
CSX	Exit	CSX CORP	$0	–	-8,592	–	-0.14%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-8,587	–	-0.15%	–
IVV	Exit	ISHARES TRcore s&p500 etf	$0	–	-2,158	–	-0.16%	–
AMGN	Exit	AMGEN INC	$0	–	-3,410	–	-0.16%	–
DIS	Exit	DISNEY WALT CO	$0	–	-5,264	–	-0.17%	–
IJT	Exit	ISHARES TRs&p sml 600 gwt	$0	–	-3,889	–	-0.17%	–
VV	Exit	VANGUARD INDEX FDSlarge cap etf	$0	–	-5,999	–	-0.20%	–
V	Exit	VISA INC	$0	–	-4,839	–	-0.20%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-683	–	-0.20%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-692	–	-0.21%	–
VDE	Exit	VANGUARD WORLD FDSenergy etf	$0	–	-11,103	–	-0.21%	–
SCZ	Exit	ISHARES TReafe sml cp etf	$0	–	-15,467	–	-0.22%	–
CL	Exit	COLGATE PALMOLIVE CO	$0	–	-12,529	–	-0.22%	–
TFI	Exit	SPDR SERIES TRUSTnuveen brc munic	$0	–	-18,930	–	-0.23%	–
EEM	Exit	ISHARES TRmsci emg mkt etf	$0	–	-31,712	–	-0.32%	–
IWN	Exit	ISHARES TRrus 2000 val etf	$0	–	-11,287	–	-0.33%	–
VNQ	Exit	VANGUARD INDEX FDSreal estate etf	$0	–	-15,162	–	-0.34%	–
MRK	Exit	MERCK & CO INC	$0	–	-17,073	–	-0.35%	–
PFE	Exit	PFIZER INC	$0	–	-41,684	–	-0.36%	–
WTR	Exit	AQUA AMERICA INC	$0	–	-35,092	–	-0.38%	–
IWM	Exit	ISHARES TRrussell 2000 etf	$0	–	-10,608	–	-0.39%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-13,694	–	-0.46%	–
VNQI	Exit	VANGUARD INTL EQUITY INDEX Fglb ex us etf	$0	–	-35,529	–	-0.51%	–
BMTC	Exit	BRYN MAWR BK CORP	$0	–	-59,168	–	-0.53%	–
SHM	Exit	SPDR SERIES TRUSTnuveen blmbrg sr	$0	–	-44,850	–	-0.54%	–
IJS	Exit	ISHARES TRsp smcp600vl etf	$0	–	-16,085	–	-0.59%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-19,785	–	-0.62%	–
AAPL	Exit	APPLE INC	$0	–	-14,139	–	-0.77%	–
IVE	Exit	ISHARES TRs&p 500 val etf	$0	–	-29,406	–	-0.85%	–
PPG	Exit	PPG INDS INC	$0	–	-30,191	–	-0.87%	–
VBK	Exit	VANGUARD INDEX FDSsml cp grw etf	$0	–	-21,723	–	-0.96%	–
MCD	Exit	MCDONALDS CORP	$0	–	-21,269	–	-1.11%	–
VWO	Exit	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$0	–	-151,477	–	-1.48%	–
VTEB	Exit	VANGUARD MUN BD FD INCtax exempt bd	$0	–	-137,028	–	-1.79%	–
VEA	Exit	VANGUARD TAX MANAGED INTL FDftse dev mkt etf	$0	–	-205,785	–	-2.06%	–
MUB	Exit	ISHARES TRnational mun etf	$0	–	-75,981	–	-2.11%	–
VSS	Exit	VANGUARD INTL EQUITY INDEX Fftse smcap etf	$0	–	-108,962	–	-2.70%	–
VBR	Exit	VANGUARD INDEX FDSsm cp val etf	$0	–	-92,720	–	-2.91%	–
SUB	Exit	ISHARES TRshrt nat mun etf	$0	–	-131,941	–	-3.42%	–
IVW	Exit	ISHARES TRs&p 500 grwt etf	$0	–	-84,018	–	-3.68%	–
IWD	Exit	ISHARES TRrus 1000 val etf	$0	–	-120,255	–	-3.76%	–
EFV	Exit	ISHARES TReafe value etf	$0	–	-339,089	–	-3.91%	–
BIV	Exit	VANGUARD BD INDEX FD INCintermed term	$0	–	-314,060	–	-6.73%	–
EFA	Exit	ISHARES TRmsci eafe etf	$0	–	-675,867	–	-10.73%	–
IWF	Exit	ISHARES TRrus 1000 grw etf	$0	–	-312,521	–	-12.15%	–
VUG	Exit	VANGUARD INDEX FDSgrowth etf	$0	–	-302,137	–	-12.23%	–
VTV	Exit	VANGUARD INDEX FDSvalue etf	$0	–	-480,238	–	-13.05%	–

Q3 2019

			Value		Shares		↓ Weighting
VTV	Buy	VANGUARD INDEX FDSvalue etf	$53,604,000	+5.9%	480,238	+5.2%	13.05%	+0.6%
VUG	Buy	VANGUARD INDEX FDSgrowth etf	$50,239,000	+4.7%	302,137	+2.9%	12.23%	-0.6%
IWF	Buy	ISHARES TRrus 1000 grw etf	$49,888,000	+3.3%	312,521	+1.8%	12.15%	-1.9%
EFA	Buy	ISHARES TRmsci eafe etf	$44,073,000	+2.9%	675,867	+3.7%	10.73%	-2.3%
BIV	Buy	VANGUARD BD INDEX FD INCintermed term	$27,637,000	+2.1%	314,060	+0.4%	6.73%	-3.0%
EFV	Buy	ISHARES TReafe value etf	$16,063,000	+44.3%	339,089	+46.4%	3.91%	+37.0%
IWD	Sell	ISHARES TRrus 1000 val etf	$15,424,000	+0.8%	120,255	-0.0%	3.76%	-4.3%
IVW	Sell	ISHARES TRs&p 500 grwt etf	$15,126,000	-1.0%	84,018	-1.5%	3.68%	-6.0%
SUB	Sell	ISHARES TRshrt nat mun etf	$14,057,000	-3.5%	131,941	-3.5%	3.42%	-8.4%
VBR	Buy	VANGUARD INDEX FDSsm cp val etf	$11,947,000	+33.8%	92,720	+35.5%	2.91%	+27.0%
VSS	Buy	VANGUARD INTL EQUITY INDEX Fftse smcap etf	$11,109,000	+5.2%	108,962	+8.6%	2.70%	-0.1%
MUB	Sell	ISHARES TRnational mun etf	$8,669,000	-0.3%	75,981	-1.2%	2.11%	-5.3%
VEA	Buy	VANGUARD TAX MANAGED INTL FDftse dev mkt etf	$8,454,000	+1.8%	205,785	+3.4%	2.06%	-3.3%
VTEB	Buy	VANGUARD MUN BD FD INCtax exempt bd	$7,347,000	+5.0%	137,028	+4.0%	1.79%	-0.2%
VWO	Buy	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$6,098,000	+9.1%	151,477	+15.3%	1.48%	+3.6%
MCD	Sell	MCDONALDS CORP	$4,567,000	+3.2%	21,269	-0.2%	1.11%	-1.9%
VBK	Buy	VANGUARD INDEX FDSsml cp grw etf	$3,954,000	+6.3%	21,723	+8.7%	0.96%	+0.9%
IVE	Sell	ISHARES TRs&p 500 val etf	$3,503,000	+1.5%	29,406	-0.7%	0.85%	-3.6%
AAPL	Sell	APPLE INC	$3,167,000	-3.9%	14,139	-15.1%	0.77%	-8.8%
JNJ	Buy	JOHNSON & JOHNSON	$2,560,000	+193.6%	19,785	+216.1%	0.62%	+178.1%
IJS	Buy	ISHARES TRsp smcp600vl etf	$2,416,000	+3.1%	16,085	+2.0%	0.59%	-2.2%
VNQI	Sell	VANGUARD INTL EQUITY INDEX Fglb ex us etf	$2,082,000	-0.8%	35,529	-0.1%	0.51%	-5.8%
MSFT	Sell	MICROSOFT CORP	$1,904,000	+2.5%	13,694	-1.2%	0.46%	-2.5%
IWM	Sell	ISHARES TRrussell 2000 etf	$1,605,000	-5.0%	10,608	-2.4%	0.39%	-9.7%
WTR	Sell	AQUA AMERICA INC	$1,573,000	+7.8%	35,092	-0.5%	0.38%	+2.4%
PFE	Sell	PFIZER INC	$1,498,000	-17.5%	41,684	-0.5%	0.36%	-21.5%
MRK	Buy	MERCK & CO INC	$1,437,000	+113.8%	17,073	+112.9%	0.35%	+103.5%
VNQ	Sell	VANGUARD INDEX FDSreal estate etf	$1,414,000	+6.5%	15,162	-0.2%	0.34%	+1.2%
IWN	Sell	ISHARES TRrus 2000 val etf	$1,348,000	-4.7%	11,287	-3.8%	0.33%	-9.4%
EEM	Buy	ISHARES TRmsci emg mkt etf	$1,296,000	-4.6%	31,712	+0.2%	0.32%	-9.2%
CL	Sell	COLGATE PALMOLIVE CO	$921,000	-0.5%	12,529	-3.0%	0.22%	-5.5%
SCZ	Buy	ISHARES TReafe sml cp etf	$885,000	+1.5%	15,467	+1.9%	0.22%	-4.0%
VDE	Sell	VANGUARD WORLD FDSenergy etf	$866,000	-13.7%	11,103	-5.9%	0.21%	-17.9%
GOOG	Sell	ALPHABET INCcap stk cl c	$844,000	+8.3%	692	-4.0%	0.21%	+3.0%
V	Sell	VISA INC	$832,000	-3.7%	4,839	-2.8%	0.20%	-8.1%
GOOGL	Sell	ALPHABET INCcap stk cl a	$834,000	+8.2%	683	-4.1%	0.20%	+2.5%
IJT	Sell	ISHARES TRs&p sml 600 gwt	$694,000	-11.8%	3,889	-9.9%	0.17%	-16.3%
DIS	Buy	DISNEY WALT CO	$686,000	-0.7%	5,264	+6.4%	0.17%	-5.6%
AMGN	Sell	AMGEN INC	$660,000	-0.2%	3,410	-4.9%	0.16%	-4.7%
IVV	Sell	ISHARES TRcore s&p500 etf	$644,000	+0.2%	2,158	-1.1%	0.16%	-4.8%
XOM	Sell	EXXON MOBIL CORP	$606,000	-13.9%	8,587	-6.5%	0.15%	-17.8%
MA	Buy	MASTERCARD INCcl a	$590,000	+3.1%	2,171	+0.5%	0.14%	-2.0%
CMCSA	Buy	COMCAST CORP NEWcl a	$562,000	+11.1%	12,461	+4.2%	0.14%	+5.4%
BA	Sell	BOEING CO	$546,000	+2.8%	1,435	-1.7%	0.13%	-2.2%
CVX	Sell	CHEVRON CORP NEW	$544,000	-12.3%	4,589	-7.9%	0.13%	-17.0%
VTI	Sell	VANGUARD INDEX FDStotal stk mkt	$527,000	-2.2%	3,487	-3.0%	0.13%	-7.2%
HD	Sell	HOME DEPOT INC	$478,000	+6.5%	2,059	-4.6%	0.12%	+0.9%
WMT	Sell	WALMART INC	$470,000	+3.8%	3,962	-3.4%	0.11%	-1.7%
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$465,000	–	2,237	–	0.11%	–
KO	Sell	COCA COLA CO	$428,000	+2.1%	7,855	-4.5%	0.10%	-2.8%
TIP	New	ISHARES TRtips bd etf	$398,000	–	3,422	–	0.10%	–
ABBV	Sell	ABBVIE INC	$371,000	-3.6%	4,894	-7.5%	0.09%	-9.1%
HON	Buy	HONEYWELL INTL INC	$333,000	+6.7%	1,966	+10.0%	0.08%	+1.2%
TRV	Sell	TRAVELERS COMPANIES INC	$334,000	-2.1%	2,245	-1.5%	0.08%	-6.9%
VCIT	New	VANGUARD SCOTTSDALE FDSint-term corp	$333,000	–	3,646	–	0.08%	–
VCSH	New	VANGUARD SCOTTSDALE FDSshrt trm corp bd	$316,000	–	3,904	–	0.08%	–
IBM	Buy	INTERNATIONAL BUSINESS MACHS	$295,000	+5.7%	2,029	+0.3%	0.07%	0.0%
BKNG	Buy	BOOKING HLDGS INC	$283,000	+14.6%	144	+9.1%	0.07%	+9.5%
PEP	Sell	PEPSICO INC	$272,000	-4.6%	1,985	-8.8%	0.07%	-9.6%
XLK	Buy	SELECT SECTOR SPDR TRtechnology	$270,000	+26.8%	3,354	+22.7%	0.07%	+20.0%
VZ	Sell	VERIZON COMMUNICATIONS INC	$263,000	+1.5%	4,353	-4.1%	0.06%	-3.0%
TJX	Buy	TJX COS INC NEW	$255,000	+15.4%	4,566	+9.1%	0.06%	+8.8%
ADP	Sell	AUTOMATIC DATA PROCESSING IN	$252,000	-4.2%	1,563	-1.6%	0.06%	-9.0%
WFC	Sell	WELLS FARGO CO NEW	$252,000	+3.3%	5,004	-2.8%	0.06%	-3.2%
VOT	Sell	VANGUARD INDEX FDSmcap gr idxvip	$248,000	-6.8%	1,674	-5.9%	0.06%	-11.8%
BSV	New	VANGUARD BD INDEX FD INCshort trm bond	$239,000	–	2,962	–	0.06%	–
ORCL	Sell	ORACLE CORP	$225,000	-22.4%	4,084	-19.7%	0.06%	-25.7%
PG	Sell	PROCTER & GAMBLE CO	$226,000	-3.0%	1,817	-14.4%	0.06%	-8.3%
BAC	Sell	BANK AMER CORP	$227,000	-28.6%	7,778	-29.0%	0.06%	-32.9%
MO	Buy	ALTRIA GROUP INC	$222,000	-13.3%	5,422	+0.2%	0.05%	-18.2%
CSCO	Buy	CISCO SYS INC	$221,000	-0.9%	4,472	+9.8%	0.05%	-5.3%
NKE	New	NIKE INCcl b	$222,000	–	2,362	–	0.05%	–
JPM	Sell	JPMORGAN CHASE & CO	$215,000	+0.5%	1,824	-4.5%	0.05%	-5.5%
USB	New	US BANCORP DEL	$214,000	–	3,858	–	0.05%	–
ABT	Sell	ABBOTT LABS	$212,000	-12.0%	2,531	-11.6%	0.05%	-16.1%
C	New	CITIGROUP INC	$200,000	–	2,889	–	0.05%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-1,037	–	-0.05%	–
SPY	Exit	SPDR S&P 500 ETF TRtr unit	$0	–	-755	–	-0.06%	–
INTC	Exit	INTEL CORP	$0	–	-5,193	–	-0.06%	–
CPB	Exit	CAMPBELL SOUP CO	$0	–	-21,068	–	-0.22%	–

Q2 2019

			Value		Shares		↓ Weighting
VTV	New	VANGUARD INDEX FDSvalue etf	$50,620,000	–	456,369	–	12.98%	–
IWF	New	ISHARES TRrus 1000 grw etf	$48,304,000	–	307,005	–	12.38%	–
VUG	New	VANGUARD INDEX FDSgrowth etf	$47,988,000	–	293,703	–	12.30%	–
EFA	New	ISHARES TRmsci eafe etf	$42,832,000	–	651,629	–	10.98%	–
BIV	New	VANGUARD BD INDEX FD INCintermed term	$27,062,000	–	312,851	–	6.94%	–
IWD	New	ISHARES TRrus 1000 val etf	$15,302,000	–	120,278	–	3.92%	–
IVW	New	ISHARES TRs&p 500 grwt etf	$15,281,000	–	85,257	–	3.92%	–
SUB	New	ISHARES TRshrt nat mun etf	$14,570,000	–	136,743	–	3.74%	–
EFV	New	ISHARES TReafe value etf	$11,132,000	–	231,582	–	2.85%	–
VSS	New	VANGUARD INTL EQUITY INDEX Fftse smcap etf	$10,564,000	–	100,362	–	2.71%	–
VBR	New	VANGUARD INDEX FDSsm cp val etf	$8,932,000	–	68,420	–	2.29%	–
MUB	New	ISHARES TRnational mun etf	$8,696,000	–	76,896	–	2.23%	–
VEA	New	VANGUARD TAX MANAGED INTL FDftse dev mkt etf	$8,302,000	–	199,038	–	2.13%	–
VTEB	New	VANGUARD MUN BD FD INCtax exempt bd	$6,995,000	–	131,811	–	1.79%	–
VWO	New	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$5,589,000	–	131,404	–	1.43%	–
MCD	New	MCDONALDS CORP	$4,425,000	–	21,311	–	1.13%	–
VBK	New	VANGUARD INDEX FDSsml cp grw etf	$3,721,000	–	19,983	–	0.95%	–
PPG	New	PPG INDS INC	$3,524,000	–	30,191	–	0.90%	–
IVE	New	ISHARES TRs&p 500 val etf	$3,452,000	–	29,613	–	0.88%	–
AAPL	New	APPLE INC	$3,296,000	–	16,652	–	0.84%	–
IJS	New	ISHARES TRsp smcp600vl etf	$2,343,000	–	15,766	–	0.60%	–
BMTC	New	BRYN MAWR BK CORP	$2,208,000	–	59,168	–	0.57%	–
SHM	New	SPDR SERIES TRUSTnuveen blmbrg sr	$2,195,000	–	44,850	–	0.56%	–
VNQI	New	VANGUARD INTL EQUITY INDEX Fglb ex us etf	$2,098,000	–	35,561	–	0.54%	–
MSFT	New	MICROSOFT CORP	$1,857,000	–	13,861	–	0.48%	–
PFE	New	PFIZER INC	$1,815,000	–	41,898	–	0.46%	–
IWM	New	ISHARES TRrussell 2000 etf	$1,690,000	–	10,867	–	0.43%	–
WTR	New	AQUA AMERICA INC	$1,459,000	–	35,264	–	0.37%	–
IWN	New	ISHARES TRrus 2000 val etf	$1,414,000	–	11,732	–	0.36%	–
EEM	New	ISHARES TRmsci emg mkt etf	$1,358,000	–	31,643	–	0.35%	–
VNQ	New	VANGUARD INDEX FDSreal estate etf	$1,328,000	–	15,192	–	0.34%	–
VDE	New	VANGUARD WORLD FDSenergy etf	$1,003,000	–	11,803	–	0.26%	–
TFI	New	SPDR SERIES TRUSTnuveen brc munic	$949,000	–	18,930	–	0.24%	–
CL	New	COLGATE PALMOLIVE CO	$926,000	–	12,917	–	0.24%	–
JNJ	New	JOHNSON & JOHNSON	$872,000	–	6,259	–	0.22%	–
SCZ	New	ISHARES TReafe sml cp etf	$872,000	–	15,184	–	0.22%	–
V	New	VISA INC	$864,000	–	4,980	–	0.22%	–
CPB	New	CAMPBELL SOUP CO	$844,000	–	21,068	–	0.22%	–
VV	New	VANGUARD INDEX FDSlarge cap etf	$808,000	–	5,999	–	0.21%	–
IJT	New	ISHARES TRs&p sml 600 gwt	$787,000	–	4,314	–	0.20%	–
GOOG	New	ALPHABET INCcap stk cl c	$779,000	–	721	–	0.20%	–
GOOGL	New	ALPHABET INCcap stk cl a	$771,000	–	712	–	0.20%	–
XOM	New	EXXON MOBIL CORP	$704,000	–	9,187	–	0.18%	–
DIS	New	DISNEY WALT CO	$691,000	–	4,946	–	0.18%	–
MRK	New	MERCK & CO INC	$672,000	–	8,018	–	0.17%	–
CSX	New	CSX CORP	$665,000	–	8,592	–	0.17%	–
AMGN	New	AMGEN INC	$661,000	–	3,587	–	0.17%	–
IVV	New	ISHARES TRcore s&p500 etf	$643,000	–	2,182	–	0.16%	–
CVX	New	CHEVRON CORP NEW	$620,000	–	4,984	–	0.16%	–
MA	New	MASTERCARD INCcl a	$572,000	–	2,161	–	0.15%	–
VTI	New	VANGUARD INDEX FDStotal stk mkt	$539,000	–	3,593	–	0.14%	–
BA	New	BOEING CO	$531,000	–	1,460	–	0.14%	–
CMCSA	New	COMCAST CORP NEWcl a	$506,000	–	11,961	–	0.13%	–
MEAR	New	ISHARES US ETF TRsht mat mun etf	$501,000	–	9,995	–	0.13%	–
WMT	New	WALMART INC	$453,000	–	4,103	–	0.12%	–
HD	New	HOME DEPOT INC	$449,000	–	2,158	–	0.12%	–
BND	New	VANGUARD BD INDEX FD INCtotal bnd mrkt	$447,000	–	5,379	–	0.12%	–
MOV	New	MOVADO GROUP INC	$424,000	–	15,721	–	0.11%	–
KO	New	COCA COLA CO	$419,000	–	8,222	–	0.11%	–
ABBV	New	ABBVIE INC	$385,000	–	5,291	–	0.10%	–
TFX	New	TELEFLEX INC	$367,000	–	1,108	–	0.09%	–
WSFS	New	WSFS FINL CORP	$359,000	–	8,692	–	0.09%	–
VRSN	New	VERISIGN INC	$346,000	–	1,656	–	0.09%	–
TRV	New	TRAVELERS COMPANIES INC	$341,000	–	2,280	–	0.09%	–
AMZN	New	AMAZON COM INC	$328,000	–	173	–	0.08%	–
BAC	New	BANK AMER CORP	$318,000	–	10,951	–	0.08%	–
HON	New	HONEYWELL INTL INC	$312,000	–	1,787	–	0.08%	–
INTU	New	INTUIT	$306,000	–	1,172	–	0.08%	–
COST	New	COSTCO WHSL CORP NEW	$305,000	–	1,154	–	0.08%	–
ISRG	New	INTUITIVE SURGICAL INC	$304,000	–	580	–	0.08%	–
AXDX	New	ACCELERATE DIAGNOSTICS INC	$297,000	–	13,000	–	0.08%	–
APD	New	AIR PRODS & CHEMS INC	$287,000	–	1,269	–	0.07%	–
ORCL	New	ORACLE CORP	$290,000	–	5,084	–	0.07%	–
PEP	New	PEPSICO INC	$285,000	–	2,176	–	0.07%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$279,000	–	2,022	–	0.07%	–
SCHX	New	SCHWAB STRATEGIC TRus lrg cap etf	$266,000	–	3,785	–	0.07%	–
VOT	New	VANGUARD INDEX FDSmcap gr idxvip	$266,000	–	1,779	–	0.07%	–
ADP	New	AUTOMATIC DATA PROCESSING IN	$263,000	–	1,588	–	0.07%	–
VZ	New	VERIZON COMMUNICATIONS INC	$259,000	–	4,538	–	0.07%	–
MO	New	ALTRIA GROUP INC	$256,000	–	5,412	–	0.07%	–
UNH	New	UNITEDHEALTH GROUP INC	$252,000	–	1,031	–	0.06%	–
INTC	New	INTEL CORP	$249,000	–	5,193	–	0.06%	–
BKNG	New	BOOKING HLDGS INC	$247,000	–	132	–	0.06%	–
WFC	New	WELLS FARGO CO NEW	$244,000	–	5,147	–	0.06%	–
ABT	New	ABBOTT LABS	$241,000	–	2,864	–	0.06%	–
PG	New	PROCTER AND GAMBLE CO	$233,000	–	2,123	–	0.06%	–
KMB	New	KIMBERLY CLARK CORP	$228,000	–	1,713	–	0.06%	–
TJX	New	TJX COS INC NEW	$221,000	–	4,184	–	0.06%	–
SPY	New	SPDR S&P 500 ETF TRtr unit	$221,000	–	755	–	0.06%	–
CSCO	New	CISCO SYS INC	$223,000	–	4,072	–	0.06%	–
ZTS	New	ZOETIS INCcl a	$219,000	–	1,930	–	0.06%	–
KSU	New	KANSAS CITY SOUTHERN	$217,000	–	1,783	–	0.06%	–
JPM	New	JPMORGAN CHASE & CO	$214,000	–	1,910	–	0.06%	–
XLK	New	SELECT SECTOR SPDR TRtechnology	$213,000	–	2,734	–	0.06%	–
TXN	New	TEXAS INSTRS INC	$212,000	–	1,848	–	0.05%	–
RPM	New	RPM INTL INC	$208,000	–	3,408	–	0.05%	–
GPN	New	GLOBAL PMTS INC	$202,000	–	1,260	–	0.05%	–
FB	New	FACEBOOK INCcl a	$200,000	–	1,037	–	0.05%	–
FRBK	New	REPUBLIC FIRST BANCORP INC	$131,000	–	26,597	–	0.03%	–
PHYS	New	SPROTT PHYSICAL GOLD TRUSTunit	$125,000	–	11,027	–	0.03%	–
KOPN	New	KOPIN CORP	$22,000	–	20,000	–	0.01%	–
GSAT	New	GLOBALSTAR INC	$8,000	–	17,136	–	0.00%	–

Q4 2018

			Value		Shares		↓ Weighting
GSAT	Exit	GLOBALSTAR INC	$0	–	-17,136	–	-0.00%	–
EVFM	Exit	EVOFEM BIOSCIENCES INC	$0	–	-10,000	–	-0.01%	–
PHYS	Exit	SPROTT PHYSICAL GOLD TRUSTunit	$0	–	-11,027	–	-0.03%	–
FRBK	Exit	REPUBLIC FIRST BANCORP INC	$0	–	-20,597	–	-0.04%	–
XLK	Exit	SELECT SECTOR SPDR TRtechnology	$0	–	-2,665	–	-0.06%	–
TXN	Exit	TEXAS INSTRS INC	$0	–	-1,875	–	-0.06%	–
CAT	Exit	CATERPILLAR INC DEL	$0	–	-1,313	–	-0.06%	–
KSU	Exit	KANSAS CITY SOUTHERN	$0	–	-1,783	–	-0.06%	–
VT	Exit	VANGUARD INTL EQUITY INDEX Ftt wrld st etf	$0	–	-2,693	–	-0.06%	–
NKE	Exit	NIKE INCcl b	$0	–	-2,406	–	-0.06%	–
IBMI	Exit	ISHARES TRibonds sep2020	$0	–	-8,250	–	-0.06%	–
INTC	Exit	INTEL CORP	$0	–	-4,387	–	-0.06%	–
TDY	Exit	TELEDYNE TECHNOLOGIES INC	$0	–	-869	–	-0.06%	–
PEP	Exit	PEPSICO INC	$0	–	-1,945	–	-0.06%	–
RPM	Exit	RPM INTL INC	$0	–	-3,408	–	-0.07%	–
APD	Exit	AIR PRODS & CHEMS INC	$0	–	-1,322	–	-0.07%	–
TJX	Exit	TJX COS INC NEW	$0	–	-2,084	–	-0.07%	–
ADP	Exit	AUTOMATIC DATA PROCESSING IN	$0	–	-1,543	–	-0.07%	–
MMM	Exit	3M CO	$0	–	-1,179	–	-0.07%	–
VOT	Exit	VANGUARD INDEX FDSmcap gr idxvip	$0	–	-1,779	–	-0.08%	–
BKNG	Exit	BOOKING HLDGS INC	$0	–	-131	–	-0.08%	–
SCHX	Exit	SCHWAB STRATEGIC TRus lrg cap etf	$0	–	-3,785	–	-0.08%	–
CMCSA	Exit	COMCAST CORP NEWcl a	$0	–	-7,435	–	-0.08%	–
ORCL	Exit	ORACLE CORP	$0	–	-5,084	–	-0.08%	–
VRSN	Exit	VERISIGN INC	$0	–	-1,656	–	-0.08%	–
COST	Exit	COSTCO WHSL CORP NEW	$0	–	-1,141	–	-0.08%	–
INTU	Exit	INTUIT	$0	–	-1,172	–	-0.08%	–
VZ	Exit	VERIZON COMMUNICATIONS INC	$0	–	-5,180	–	-0.08%	–
UNH	Exit	UNITEDHEALTH GROUP INC	$0	–	-1,033	–	-0.08%	–
HON	Exit	HONEYWELL INTL INC	$0	–	-1,680	–	-0.08%	–
TFX	Exit	TELEFLEX INC	$0	–	-1,108	–	-0.09%	–
TRV	Exit	TRAVELERS COMPANIES INC	$0	–	-2,278	–	-0.09%	–
AXDX	Exit	Accelerate Diagnostics Inc	$0	–	-13,000	–	-0.09%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-2,069	–	-0.09%	–
SCZ	Exit	ISHARES TReafe sml cp etf	$0	–	-5,000	–	-0.09%	–
VNQI	Exit	VANGUARD INTL EQUITY INDEX Fglb ex us etf	$0	–	-5,737	–	-0.10%	–
AMZN	Exit	AMAZON COM INC	$0	–	-164	–	-0.10%	–
WFC	Exit	WELLS FARGO CO NEW	$0	–	-6,422	–	-0.10%	–
ISRG	Exit	INTUITIVE SURGICAL INC	$0	–	-642	–	-0.11%	–
WMT	Exit	WALMART INC	$0	–	-3,921	–	-0.11%	–
KO	Exit	COCA COLA CO	$0	–	-8,168	–	-0.11%	–
MO	Exit	ALTRIA GROUP INC	$0	–	-6,522	–	-0.12%	–
WSFS	Exit	WSFS FINL CORP	$0	–	-8,692	–	-0.12%	–
IVV	Exit	ISHARES TRcore s&p500 etf	$0	–	-1,440	–	-0.13%	–
IJT	Exit	ISHARES TRs&p sml 600 gwt	$0	–	-2,155	–	-0.13%	–
MA	Exit	MASTERCARD INCORPORATEDcl a	$0	–	-1,990	–	-0.13%	–
HD	Exit	HOME DEPOT INC	$0	–	-2,224	–	-0.14%	–
ABBV	Exit	Abbvie Inc	$0	–	-5,162	–	-0.14%	–
DIS	Exit	DISNEY WALT CO	$0	–	-4,163	–	-0.14%	–
BA	Exit	BOEING CO	$0	–	-1,359	–	-0.15%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-4,427	–	-0.16%	–
MRK	Exit	MERCK & CO INC	$0	–	-7,751	–	-0.16%	–
CSX	Exit	CSX CORP	$0	–	-9,393	–	-0.21%	–
AMGN	Exit	AMGEN INC	$0	–	-3,545	–	-0.22%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-621	–	-0.22%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-9,028	–	-0.23%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-653	–	-0.24%	–
CL	Exit	COLGATE PALMOLIVE CO	$0	–	-11,938	–	-0.24%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-5,791	–	-0.24%	–
VV	Exit	VANGUARD INDEX FDSlarge cap etf	$0	–	-5,999	–	-0.24%	–
CPB	Exit	CAMPBELL SOUP CO	$0	–	-22,288	–	-0.24%	–
VNQ	Exit	VANGUARD INDEX FDSreal estate etf	$0	–	-13,544	–	-0.32%	–
WTR	Exit	AQUA AMERICA INC	$0	–	-32,061	–	-0.35%	–
VBK	Exit	VANGUARD INDEX FDSsml cp grw etf	$0	–	-6,381	–	-0.36%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-10,670	–	-0.36%	–
VDE	Exit	VANGUARD WORLD FDSenergy etf	$0	–	-11,678	–	-0.37%	–
EEM	Exit	ISHARES TRmsci emg mkt etf	$0	–	-32,721	–	-0.42%	–
IWN	Exit	ISHARES TRrus 2000 val etf	$0	–	-11,374	–	-0.45%	–
IJS	Exit	ISHARES TRsp smcp600vl etf	$0	–	-9,989	–	-0.50%	–
IWM	Exit	ISHARES TRrussell 2000 etf	$0	–	-10,198	–	-0.51%	–
PFE	Exit	PFIZER INC	$0	–	-41,894	–	-0.55%	–
BMTC	Exit	BRYN MAWR BK CORP	$0	–	-59,168	–	-0.83%	–
AAPL	Exit	APPLE INC	$0	–	-13,339	–	-0.90%	–
PPG	Exit	PPG INDS INC	$0	–	-30,005	–	-0.98%	–
VTI	Exit	VANGUARD INDEX FDStotal stk mkt	$0	–	-21,975	–	-0.98%	–
IVE	Exit	ISHARES TRs&p 500 val etf	$0	–	-30,192	–	-1.04%	–
MCD	Exit	MCDONALDS CORP	$0	–	-21,196	–	-1.06%	–
VWO	Exit	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$0	–	-93,565	–	-1.14%	–
VBR	Exit	VANGUARD INDEX FDSsm cp val etf	$0	–	-28,125	–	-1.17%	–
MUB	Exit	ISHARES TRnational mun etf	$0	–	-45,868	–	-1.47%	–
SHM	Exit	SPDR SER TRnuveen blmbrg sr	$0	–	-115,415	–	-1.64%	–
VSS	Exit	VANGUARD INTL EQUITY INDEX Fftse smcap etf	$0	–	-50,873	–	-1.70%	–
VTEB	Exit	VANGUARD MUN BD FD INCtax exempt bd	$0	–	-134,283	–	-2.02%	–
EFV	Exit	ISHARES TReafe value etf	$0	–	-148,536	–	-2.30%	–
VEA	Exit	VANGUARD TAX MANAGED INTL FDftse dev mkt etf	$0	–	-183,144	–	-2.36%	–
IVW	Exit	ISHARES TRs&p 500 grwt etf	$0	–	-74,876	–	-3.95%	–
IWD	Exit	ISHARES TRrus 1000 val etf	$0	–	-113,963	–	-4.30%	–
SUB	Exit	ISHARES TRshrt nat mun etf	$0	–	-182,496	–	-5.69%	–
BIV	Exit	VANGUARD BD INDEX FD INCintermed term	$0	–	-296,050	–	-7.09%	–
EFA	Exit	ISHARES TRmsci eafe etf	$0	–	-515,607	–	-10.44%	–
VUG	Exit	VANGUARD INDEX FDSgrowth etf	$0	–	-257,619	–	-12.35%	–
IWF	Exit	ISHARES TRrus 1000 grw etf	$0	–	-271,396	–	-12.60%	–
VTV	Exit	VANGUARD INDEX FDSvalue etf	$0	–	-401,143	–	-13.22%	–

Q3 2018

			Value		Shares		↓ Weighting
VTV	Buy	VANGUARD INDEX FDSvalue etf	$44,399,000	+12.4%	401,143	+5.4%	13.22%	+4.7%
IWF	Buy	ISHARES TRrus 1000 grw etf	$42,332,000	+9.5%	271,396	+1.0%	12.60%	+2.0%
VUG	Buy	VANGUARD INDEX FDSgrowth etf	$41,487,000	+8.9%	257,619	+1.3%	12.35%	+1.4%
EFA	Buy	ISHARES TRmsci eafe etf	$35,056,000	+2.0%	515,607	+0.4%	10.44%	-5.0%
BIV	Buy	VANGUARD BD INDEX FD INCintermed term	$23,826,000	+2.8%	296,050	+3.4%	7.09%	-4.3%
SUB	Buy	ISHARES TRshrt nat mun etf	$19,113,000	-0.2%	182,496	+0.1%	5.69%	-7.1%
IWD	Sell	ISHARES TRrus 1000 val etf	$14,430,000	+3.4%	113,963	-0.9%	4.30%	-3.7%
IVW	Sell	ISHARES TRs&p 500 grwt etf	$13,266,000	+6.9%	74,876	-1.9%	3.95%	-0.5%
VEA	Buy	VANGUARD TAX MANAGED INTL FDftse dev mkt etf	$7,925,000	+2.7%	183,144	+1.9%	2.36%	-4.3%
EFV	Buy	ISHARES TReafe value etf	$7,712,000	+32.3%	148,536	+30.8%	2.30%	+23.2%
VTEB	Sell	VANGUARD MUN BD FD INCtax exempt bd	$6,783,000	-9.4%	134,283	-8.5%	2.02%	-15.6%
VSS	Buy	VANGUARD INTL EQUITY INDEX Fftse smcap etf	$5,706,000	+19.5%	50,873	+23.0%	1.70%	+11.3%
SHM	Sell	SPDR SER TRnuveen blmbrg sr	$5,504,000	-4.9%	115,415	-4.3%	1.64%	-11.4%
MUB	Buy	ISHARES TRnational mun etf	$4,951,000	+3.7%	45,868	+4.8%	1.47%	-3.4%
VBR	Sell	VANGUARD INDEX FDSsm cp val etf	$3,920,000	+2.5%	28,125	-0.1%	1.17%	-4.5%
VWO	Buy	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$3,836,000	+6.0%	93,565	+9.1%	1.14%	-1.3%
MCD	Buy	MCDONALDS CORP	$3,546,000	+7.2%	21,196	+0.4%	1.06%	-0.2%
IVE	Sell	ISHARES TRs&p 500 val etf	$3,497,000	+4.5%	30,192	-0.6%	1.04%	-2.7%
VTI	Buy	VANGUARD INDEX FDStotal stk mkt	$3,289,000	+7.0%	21,975	+0.4%	0.98%	-0.4%
PPG	Sell	PPG INDS INC	$3,274,000	+5.0%	30,005	-0.2%	0.98%	-2.2%
AAPL	Sell	APPLE INC	$3,011,000	+19.0%	13,339	-2.4%	0.90%	+10.9%
PFE	Buy	PFIZER INC	$1,846,000	+22.6%	41,894	+0.9%	0.55%	+14.3%
IWM	Buy	ISHARES TRrussell 2000 etf	$1,719,000	+3.2%	10,198	+0.2%	0.51%	-3.9%
IJS	Sell	ISHARES TRsp smcp600vl etf	$1,667,000	+1.6%	9,989	-0.6%	0.50%	-5.5%
IWN	Sell	ISHARES TRrus 2000 val etf	$1,513,000	+0.5%	11,374	-0.4%	0.45%	-6.2%
VDE	Buy	VANGUARD WORLD FDSenergy etf	$1,228,000	+0.7%	11,678	+0.6%	0.37%	-6.2%
MSFT	Buy	MICROSOFT CORP	$1,220,000	+21.2%	10,670	+4.5%	0.36%	+12.7%
WTR	Buy	AQUA AMERICA INC	$1,183,000	+4.9%	32,061	+0.0%	0.35%	-2.5%
VNQ	Sell	VANGUARD INDEX FDSreal estate etf	$1,093,000	-1.3%	13,544	-0.3%	0.32%	-8.2%
VV	Sell	VANGUARD INDEX FDSlarge cap etf	$801,000	+5.3%	5,999	-1.6%	0.24%	-1.6%
JNJ	Buy	JOHNSON & JOHNSON	$800,000	+19.9%	5,791	+5.4%	0.24%	+11.7%
CL	Buy	COLGATE PALMOLIVE CO	$799,000	+3.6%	11,938	+0.3%	0.24%	-3.3%
GOOGL	Buy	ALPHABET INCcap stk cl a	$788,000	+9.6%	653	+2.5%	0.24%	+2.2%
XOM	Buy	EXXON MOBIL CORP	$768,000	+8.9%	9,028	+5.9%	0.23%	+1.8%
GOOG	Sell	ALPHABET INCcap stk cl c	$741,000	-3.0%	621	-9.3%	0.22%	-9.4%
AMGN	Buy	AMGEN INC	$735,000	+16.5%	3,545	+3.7%	0.22%	+8.4%
CSX	Buy	CSX CORP	$696,000	+17.6%	9,393	+1.3%	0.21%	+9.5%
MRK	Buy	MERCK & CO INC	$550,000	+20.9%	7,751	+3.3%	0.16%	+13.1%
CVX	Buy	CHEVRON CORP NEW	$541,000	+4.2%	4,427	+7.8%	0.16%	-3.0%
BA	Buy	BOEING CO	$505,000	+11.7%	1,359	+0.8%	0.15%	+4.2%
DIS	Buy	DISNEY WALT CO	$487,000	+12.2%	4,163	+0.5%	0.14%	+4.3%
ABBV	Buy	Abbvie Inc	$488,000	+5.9%	5,162	+3.6%	0.14%	-1.4%
HD	Buy	HOME DEPOT INC	$461,000	+24.6%	2,224	+17.2%	0.14%	+16.1%
MA	Buy	MASTERCARD INCORPORATEDcl a	$443,000	+16.6%	1,990	+2.8%	0.13%	+9.1%
IVV	Buy	ISHARES TRcore s&p500 etf	$422,000	+13.1%	1,440	+5.5%	0.13%	+5.9%
MO	Buy	ALTRIA GROUP INC	$393,000	+9.8%	6,522	+3.4%	0.12%	+2.6%
KO	Buy	COCA COLA CO	$377,000	+10.2%	8,168	+4.6%	0.11%	+2.8%
ISRG	Buy	INTUITIVE SURGICAL INC	$369,000	+23.0%	642	+2.4%	0.11%	+14.6%
WMT	Buy	WALMART INC	$368,000	+19.1%	3,921	+8.6%	0.11%	+11.1%
WFC	Buy	WELLS FARGO CO NEW	$338,000	+29.0%	6,422	+35.9%	0.10%	+20.2%
AMZN	Buy	AMAZON COM INC	$328,000	+19.7%	164	+1.9%	0.10%	+11.4%
VNQI	Buy	VANGUARD INTL EQUITY INDEX Fglb ex us etf	$322,000	-3.3%	5,737	+0.0%	0.10%	-9.4%
IBM	Buy	INTERNATIONAL BUSINESS MACHS	$313,000	+9.4%	2,069	+1.0%	0.09%	+2.2%
HON	Sell	HONEYWELL INTL INC	$280,000	+12.0%	1,680	-3.2%	0.08%	+3.8%
VZ	Buy	VERIZON COMMUNICATIONS INC	$277,000	+28.8%	5,180	+21.0%	0.08%	+18.8%
UNH	Buy	UNITEDHEALTH GROUP INC	$275,000	+15.5%	1,033	+6.5%	0.08%	+7.9%
COST	Buy	COSTCO WHSL CORP NEW	$268,000	+21.8%	1,141	+8.3%	0.08%	+14.3%
VRSN	Buy	VERISIGN INC	$265,000	+18.8%	1,656	+2.0%	0.08%	+11.3%
ORCL	New	ORACLE CORP	$262,000	–	5,084	–	0.08%	–
CMCSA	New	COMCAST CORP NEWcl a	$263,000	–	7,435	–	0.08%	–
BKNG	Buy	BOOKING HLDGS INC	$260,000	-1.5%	131	+0.8%	0.08%	-8.3%
MMM	Buy	3M CO	$248,000	+13.2%	1,179	+5.7%	0.07%	+5.7%
TJX	New	TJX COS INC NEW	$233,000	–	2,084	–	0.07%	–
ADP	New	AUTOMATIC DATA PROCESSING IN	$232,000	–	1,543	–	0.07%	–
RPM	New	RPM INTL INC	$221,000	–	3,408	–	0.07%	–
APD	New	AIR PRODS & CHEMS INC	$221,000	–	1,322	–	0.07%	–
PEP	New	PEPSICO INC	$217,000	–	1,945	–	0.06%	–
TDY	New	TELEDYNE TECHNOLOGIES INC	$214,000	–	869	–	0.06%	–
INTC	New	INTEL CORP	$207,000	–	4,387	–	0.06%	–
NKE	New	NIKE INCcl b	$204,000	–	2,406	–	0.06%	–
VT	New	VANGUARD INTL EQUITY INDEX Ftt wrld st etf	$204,000	–	2,693	–	0.06%	–
CAT	New	CATERPILLAR INC DEL	$200,000	–	1,313	–	0.06%	–
XLK	New	SELECT SECTOR SPDR TRtechnology	$201,000	–	2,665	–	0.06%	–
TXN	Buy	TEXAS INSTRS INC	$201,000	-1.5%	1,875	+1.5%	0.06%	-7.7%
KSU	New	KANSAS CITY SOUTHERN	$202,000	–	1,783	–	0.06%	–
EVFM	New	EVOFEM BIOSCIENCES INC	$41,000	–	10,000	–	0.01%	–
NTRI	Exit	NUTRI SYS INC NEW	$0	–	-5,269	–	-0.06%	–
V	Exit	VISA INC	$0	–	-3,742	–	-0.16%	–

Q2 2018

			Value		Shares		↓ Weighting
VTV	New	VANGUARD INDEX FDSvalue etf	$39,508,000	–	380,509	–	12.63%	–
IWF	New	ISHARES TRrus 1000 grw etf	$38,651,000	–	268,784	–	12.36%	–
VUG	New	VANGUARD INDEX FDSgrowth etf	$38,101,000	–	254,327	–	12.18%	–
EFA	New	ISHARES TRmsci eafe etf	$34,376,000	–	513,311	–	10.99%	–
BIV	New	VANGUARD BD INDEX FD INCintermed term	$23,187,000	–	286,364	–	7.41%	–
SUB	New	ISHARES TRshrt nat mun etf	$19,155,000	–	182,393	–	6.12%	–
IWD	New	ISHARES TRrus 1000 val etf	$13,952,000	–	114,947	–	4.46%	–
IVW	New	ISHARES TRs&p 500 grwt etf	$12,411,000	–	76,322	–	3.97%	–
VEA	New	VANGUARD TAX MANAGED INTL FDftse dev mkt etf	$7,713,000	–	179,791	–	2.47%	–
VTEB	New	VANGUARD MUN BD FD INCtax exempt bd	$7,485,000	–	146,823	–	2.39%	–
EFV	New	ISHARES TReafe value etf	$5,830,000	–	113,540	–	1.86%	–
SHM	New	SPDR SER TRnuveen blmbrg sr	$5,788,000	–	120,615	–	1.85%	–
MUB	New	ISHARES TRnational mun etf	$4,774,000	–	43,778	–	1.53%	–
VSS	New	VANGUARD INTL EQUITY INDEX Fftse smcap etf	$4,773,000	–	41,357	–	1.53%	–
VBR	New	VANGUARD INDEX FDSsm cp val etf	$3,823,000	–	28,154	–	1.22%	–
VWO	New	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$3,619,000	–	85,765	–	1.16%	–
IVE	New	ISHARES TRs&p 500 val etf	$3,346,000	–	30,383	–	1.07%	–
MCD	New	MCDONALDS CORP	$3,309,000	–	21,119	–	1.06%	–
PPG	New	PPG INDS INC	$3,118,000	–	30,055	–	1.00%	–
VTI	New	VANGUARD INDEX FDStotal stk mkt	$3,075,000	–	21,898	–	0.98%	–
BMTC	New	BRYN MAWR BK CORP	$2,739,000	–	59,168	–	0.88%	–
AAPL	New	APPLE INC	$2,530,000	–	13,669	–	0.81%	–
IWM	New	ISHARES TRrussell 2000 etf	$1,666,000	–	10,174	–	0.53%	–
IJS	New	ISHARES TRsp smcp600vl etf	$1,641,000	–	10,049	–	0.52%	–
IWN	New	ISHARES TRrus 2000 val etf	$1,506,000	–	11,417	–	0.48%	–
PFE	New	PFIZER INC	$1,506,000	–	41,524	–	0.48%	–
EEM	New	ISHARES TRmsci emg mkt etf	$1,418,000	–	32,721	–	0.45%	–
VDE	New	VANGUARD WORLD FDSenergy etf	$1,220,000	–	11,614	–	0.39%	–
WTR	New	AQUA AMERICA INC	$1,128,000	–	32,060	–	0.36%	–
VBK	New	VANGUARD INDEX FDSsml cp grw etf	$1,122,000	–	6,381	–	0.36%	–
VNQ	New	VANGUARD INDEX FDSreal estate etf	$1,107,000	–	13,586	–	0.35%	–
MSFT	New	MICROSOFT CORP	$1,007,000	–	10,207	–	0.32%	–
CPB	New	CAMPBELL SOUP CO	$904,000	–	22,288	–	0.29%	–
CL	New	COLGATE PALMOLIVE CO	$771,000	–	11,901	–	0.25%	–
GOOG	New	ALPHABET INCcap stk cl c	$764,000	–	685	–	0.24%	–
VV	New	VANGUARD INDEX FDSlarge cap etf	$761,000	–	6,099	–	0.24%	–
GOOGL	New	ALPHABET INCcap stk cl a	$719,000	–	637	–	0.23%	–
XOM	New	EXXON MOBIL CORP	$705,000	–	8,525	–	0.22%	–
JNJ	New	JOHNSON & JOHNSON	$667,000	–	5,496	–	0.21%	–
AMGN	New	AMGEN INC	$631,000	–	3,420	–	0.20%	–
CSX	New	CSX CORP	$592,000	–	9,277	–	0.19%	–
CVX	New	CHEVRON CORP NEW	$519,000	–	4,107	–	0.17%	–
V	New	VISA INC	$496,000	–	3,742	–	0.16%	–
WSFS	New	WSFS FINL CORP	$463,000	–	8,692	–	0.15%	–
ABBV	New	Abbvie Inc	$461,000	–	4,981	–	0.15%	–
MRK	New	MERCK & CO INC	$455,000	–	7,504	–	0.14%	–
BA	New	BOEING CO	$452,000	–	1,348	–	0.14%	–
DIS	New	DISNEY WALT CO	$434,000	–	4,142	–	0.14%	–
IJT	New	ISHARES TRs&p sml 600 gwt	$407,000	–	2,155	–	0.13%	–
MA	New	MASTERCARD INCORPORATEDcl a	$380,000	–	1,935	–	0.12%	–
IVV	New	ISHARES TRcore s&p500 etf	$373,000	–	1,365	–	0.12%	–
HD	New	HOME DEPOT INC	$370,000	–	1,897	–	0.12%	–
MO	New	ALTRIA GROUP INC	$358,000	–	6,307	–	0.11%	–
KO	New	COCA COLA CO	$342,000	–	7,808	–	0.11%	–
VNQI	New	VANGUARD INTL EQUITY INDEX Fglb ex us etf	$333,000	–	5,735	–	0.11%	–
SCZ	New	ISHARES TReafe sml cp etf	$314,000	–	5,000	–	0.10%	–
WMT	New	WALMART INC	$309,000	–	3,610	–	0.10%	–
ISRG	New	INTUITIVE SURGICAL INC	$300,000	–	627	–	0.10%	–
TFX	New	TELEFLEX INC	$297,000	–	1,108	–	0.10%	–
AXDX	New	Accelerate Diagnostics Inc	$290,000	–	13,000	–	0.09%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$286,000	–	2,049	–	0.09%	–
TRV	New	TRAVELERS COMPANIES INC	$279,000	–	2,278	–	0.09%	–
AMZN	New	AMAZON COM INC	$274,000	–	161	–	0.09%	–
BKNG	New	BOOKING HLDGS INC	$264,000	–	130	–	0.08%	–
WFC	New	WELLS FARGO CO NEW	$262,000	–	4,724	–	0.08%	–
HON	New	HONEYWELL INTL INC	$250,000	–	1,736	–	0.08%	–
SCHX	New	SCHWAB STRATEGIC TRus lrg cap etf	$246,000	–	3,785	–	0.08%	–
VOT	New	VANGUARD INDEX FDSmcap gr idxvip	$239,000	–	1,779	–	0.08%	–
UNH	New	UNITEDHEALTH GROUP INC	$238,000	–	970	–	0.08%	–
INTU	New	INTUIT	$239,000	–	1,172	–	0.08%	–
VRSN	New	VERISIGN INC	$223,000	–	1,623	–	0.07%	–
MMM	New	3M CO	$219,000	–	1,115	–	0.07%	–
COST	New	COSTCO WHSL CORP NEW	$220,000	–	1,054	–	0.07%	–
VZ	New	VERIZON COMMUNICATIONS INC	$215,000	–	4,282	–	0.07%	–
IBMI	New	ISHARES TRibonds sep20 etf	$209,000	–	8,250	–	0.07%	–
NTRI	New	NUTRI SYS INC NEW	$203,000	–	5,269	–	0.06%	–
TXN	New	TEXAS INSTRS INC	$204,000	–	1,848	–	0.06%	–
FRBK	New	REPUBLIC FIRST BANCORP INC	$162,000	–	20,597	–	0.05%	–
PHYS	New	SPROTT PHYSICAL GOLD TRUSTunit	$112,000	–	11,027	–	0.04%	–
GSAT	New	GLOBALSTAR INC	$8,000	–	17,136	–	0.00%	–

Q4 2017

			Value		Shares		↓ Weighting
GSAT	Exit	GLOBALSTAR INC	$0	–	-34,272	–	-0.01%	–
PHYS	Exit	SPROTT PHYSICAL GOLD TRUSTunit	$0	–	-22,054	–	-0.05%	–
FRBK	Exit	REPUBLIC FIRST BANCORP INC	$0	–	-41,194	–	-0.08%	–
VT	Exit	VANGUARD INTL EQUITY INDEX Ftt wrld st etf	$0	–	-5,786	–	-0.08%	–
RPM	Exit	RPM INTL INC	$0	–	-8,088	–	-0.08%	–
VZ	Exit	VERIZON COMMUNICATIONS INC	$0	–	-8,554	–	-0.08%	–
VOT	Exit	VANGUARD INDEX FDSmcap gr idxvip	$0	–	-3,558	–	-0.09%	–
PEP	Exit	PEPSICO INC	$0	–	-3,918	–	-0.09%	–
MMM	Exit	3M CO	$0	–	-2,230	–	-0.09%	–
PCLN	Exit	PRICELINE GRP INC	$0	–	-260	–	-0.10%	–
HON	Exit	HONEYWELL INTL INC	$0	–	-3,418	–	-0.10%	–
PM	Exit	PHILIP MORRIS INTL INC	$0	–	-4,414	–	-0.10%	–
BEN	Exit	FRANKLIN RES INC	$0	–	-11,874	–	-0.10%	–
MA	Exit	MASTERCARD INCORPORATEDcl a	$0	–	-3,800	–	-0.11%	–
AMZN	Exit	AMAZON COM INC	$0	–	-572	–	-0.11%	–
WMT	Exit	WAL-MART STORES INC	$0	–	-7,220	–	-0.11%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-3,898	–	-0.11%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC CL B-	$0	–	-3,134	–	-0.11%	–
AXDX	Exit	Accelerate Diagnostics Inc	$0	–	-26,000	–	-0.12%	–
WFC	Exit	WELLS FARGO CO NEW	$0	–	-10,624	–	-0.12%	–
NTRI	Exit	NUTRI SYS INC NEW	$0	–	-10,538	–	-0.12%	–
VNQI	Exit	VANGUARD INTL EQUITY INDEX Fglb ex us etf	$0	–	-10,244	–	-0.12%	–
SCZ	Exit	ISHARES TReafe sml cp etf	$0	–	-10,000	–	-0.12%	–
HD	Exit	HOME DEPOT INC	$0	–	-3,792	–	-0.12%	–
BA	Exit	BOEING CO	$0	–	-2,662	–	-0.14%	–
IVV	Exit	ISHARES TRcore s&p500 etf	$0	–	-2,886	–	-0.14%	–
V	Exit	VISA INC	$0	–	-7,504	–	-0.16%	–
KO	Exit	COCA COLA CO	$0	–	-18,680	–	-0.17%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-34,770	–	-0.17%	–
WSFS	Exit	WSFS FINL CORP	$0	–	-17,384	–	-0.17%	–
MO	Exit	ALTRIA GROUP INC	$0	–	-13,880	–	-0.18%	–
DIS	Exit	DISNEY WALT CO	$0	–	-9,440	–	-0.18%	–
MUB	Exit	ISHARES TRnational mun etf	$0	–	-8,650	–	-0.19%	–
MRK	Exit	MERCK & CO INC	$0	–	-15,514	–	-0.20%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-8,464	–	-0.20%	–
ABBV	Exit	Abbvie Inc	$0	–	-11,154	–	-0.20%	–
CSX	Exit	CSX CORP	$0	–	-18,878	–	-0.20%	–
VNQ	Exit	VANGUARD INDEX FDSreit etf	$0	–	-13,334	–	-0.22%	–
AMGN	Exit	AMGEN INC	$0	–	-6,762	–	-0.25%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-17,498	–	-0.29%	–
VV	Exit	VANGUARD INDEX FDSlarge cap etf	$0	–	-12,428	–	-0.29%	–
IJS	Exit	ISHARES TRsp smcp600vl etf	$0	–	-10,294	–	-0.30%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-11,720	–	-0.30%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-20,492	–	-0.30%	–
WTR	Exit	AQUA AMERICA INC	$0	–	-64,114	–	-0.42%	–
VDE	Exit	VANGUARD WORLD FDSenergy etf	$0	–	-23,008	–	-0.43%	–
IWM	Exit	ISHARES TRrussell 2000 etf	$0	–	-19,348	–	-0.57%	–
IWN	Exit	ISHARES TRrus 2000 val etf	$0	–	-23,578	–	-0.58%	–
VBK	Exit	VANGUARD INDEX FDSsml cp grw etf	$0	–	-19,336	–	-0.59%	–
PFE	Exit	PFIZER INC	$0	–	-86,126	–	-0.61%	–
EEM	Exit	ISHARES TRmsci emg mkt etf	$0	–	-81,142	–	-0.72%	–
AAPL	Exit	APPLE INC	$0	–	-25,404	–	-0.78%	–
CPB	Exit	CAMPBELL SOUP CO	$0	–	-86,532	–	-0.81%	–
BMTC	Exit	BRYN MAWR BK CORP	$0	–	-118,336	–	-1.03%	–
VTI	Exit	VANGUARD INDEX FDStotal stk mkt	$0	–	-43,434	–	-1.12%	–
PPG	Exit	PPG INDS INC	$0	–	-60,180	–	-1.30%	–
IVE	Exit	ISHARES TRs&p 500 val etf	$0	–	-62,042	–	-1.33%	–
MCD	Exit	MCDONALDS CORP	$0	–	-43,110	–	-1.34%	–
VBR	Exit	VANGUARD INDEX FDSsm cp val etf	$0	–	-56,718	–	-1.44%	–
VWO	Exit	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$0	–	-177,316	–	-1.54%	–
VTEB	Exit	VANGUARD MUN BD FD INCtax exempt bd	$0	–	-152,758	–	-1.57%	–
VSS	Exit	VANGUARD INTL EQUITY INDEX Fftse smcap etf	$0	–	-88,408	–	-2.02%	–
EFV	Exit	ISHARES TReafe value etf	$0	–	-224,378	–	-2.44%	–
VEA	Exit	VANGUARD TAX MANAGED INTL FDftse dev mkt etf	$0	–	-377,262	–	-3.26%	–
IVW	Exit	ISHARES TRs&p 500 grwt etf	$0	–	-163,326	–	-4.67%	–
IWD	Exit	ISHARES TRrus 1000 val etf	$0	–	-215,326	–	-5.08%	–
BIV	Exit	VANGUARD BD INDEX FD INCintermed term	$0	–	-509,958	–	-8.60%	–
EFA	Exit	ISHARES TRmsci eafe etf	$0	–	-910,052	–	-12.41%	–
IWF	Exit	ISHARES TRrus 1000 grw etf	$0	–	-502,976	–	-12.53%	–
VUG	Exit	VANGUARD INDEX FDSgrowth etf	$0	–	-474,756	–	-12.55%	–
VTV	Exit	VANGUARD INDEX FDSvalue etf	$0	–	-687,034	–	-13.66%	–

Q3 2017

			Value		Shares		↓ Weighting
VTV	Buy	VANGUARD INDEX FDSvalue etf	$68,580,000	+6.0%	687,034	+2.6%	13.66%	+6.2%
VUG	Sell	VANGUARD INDEX FDSgrowth etf	$63,024,000	+4.2%	474,756	-0.2%	12.55%	+4.4%
IWF	Sell	ISHARES TRrus 1000 grw etf	$62,902,000	+4.7%	502,976	-0.3%	12.53%	+4.9%
EFA	Buy	ISHARES TRmsci eafe etf	$62,320,000	+9.1%	910,052	+3.9%	12.41%	+9.3%
BIV	Buy	VANGUARD BD INDEX FD INCintermed term	$43,174,000	+2.8%	509,958	+2.6%	8.60%	+2.9%
IWD	Sell	ISHARES TRrus 1000 val etf	$25,518,000	+0.3%	215,326	-1.4%	5.08%	+0.5%
IVW	Sell	ISHARES TRs&p 500 grwt etf	$23,424,000	+2.7%	163,326	-2.0%	4.67%	+2.8%
VEA	Sell	VANGUARD TAX MANAGED INTL FDftse dev mkt etf	$16,376,000	+4.7%	377,262	-0.3%	3.26%	+4.9%
EFV	Sell	ISHARES TReafe value etf	$12,252,000	+4.5%	224,378	-1.0%	2.44%	+4.7%
VSS	Sell	VANGUARD INTL EQUITY INDEX Fftse smcap etf	$10,160,000	+5.0%	88,408	-1.2%	2.02%	+5.2%
VTEB	Buy	VANGUARD MUN BD FD INCtax exempt bd	$7,892,000	+4.3%	152,758	+3.6%	1.57%	+4.5%
VWO	Sell	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$7,726,000	+5.4%	177,316	-1.2%	1.54%	+5.6%
VBR	Sell	VANGUARD INDEX FDSsm cp val etf	$7,248,000	+0.1%	56,718	-3.7%	1.44%	+0.3%
MCD	Buy	MCDONALDS CORP	$6,754,000	+5.4%	43,110	+3.0%	1.34%	+5.6%
IVE	Sell	ISHARES TRs&p 500 val etf	$6,694,000	+1.9%	62,042	-0.8%	1.33%	+2.1%
PPG	Sell	PPG INDS INC	$6,540,000	-1.8%	60,180	-0.6%	1.30%	-1.6%
VTI	Buy	VANGUARD INDEX FDStotal stk mkt	$5,626,000	+4.4%	43,434	+0.3%	1.12%	+4.6%
AAPL	Sell	APPLE INC	$3,916,000	+6.4%	25,404	-0.6%	0.78%	+6.6%
EEM	Sell	ISHARES TRmsci emg mkt etf	$3,636,000	+3.6%	81,142	-4.3%	0.72%	+3.7%
PFE	Sell	PFIZER INC	$3,074,000	-6.8%	86,126	-12.3%	0.61%	-6.7%
VBK	Sell	VANGUARD INDEX FDSsml cp grw etf	$2,952,000	+0.5%	19,336	-4.0%	0.59%	+0.7%
IWM	Sell	ISHARES TRrussell 2000 etf	$2,866,000	+3.1%	19,348	-1.9%	0.57%	+3.3%
WTR	Buy	AQUA AMERICA INC	$2,128,000	+5.5%	64,114	+5.8%	0.42%	+5.7%
IJS	Sell	ISHARES TRsp smcp600vl etf	$1,526,000	+5.7%	10,294	-0.4%	0.30%	+5.9%
JNJ	Sell	JOHNSON & JOHNSON	$1,524,000	-7.3%	11,720	-5.7%	0.30%	-7.0%
XOM	Sell	EXXON MOBIL CORP	$1,434,000	-3.8%	17,498	-5.1%	0.29%	-3.4%
CSX	Buy	CSX CORP	$1,024,000	+1.2%	18,878	+1.7%	0.20%	+1.5%
MRK	Sell	MERCK & CO INC	$994,000	-20.7%	15,514	-20.7%	0.20%	-20.5%
ABBV	Sell	Abbvie Inc	$992,000	+3.3%	11,154	-15.8%	0.20%	+3.7%
DIS	Buy	DISNEY WALT CO	$930,000	+5.7%	9,440	+14.0%	0.18%	+5.7%
MO	Sell	ALTRIA GROUP INC	$880,000	-18.2%	13,880	-3.9%	0.18%	-18.2%
WSFS	New	WSFS FINL CORP	$848,000	–	17,384	–	0.17%	–
KO	Sell	COCA COLA CO	$840,000	-0.5%	18,680	-0.7%	0.17%	-0.6%
GE	Buy	GENERAL ELECTRIC CO	$840,000	-4.1%	34,770	+7.1%	0.17%	-4.0%
V	Buy	VISA INC	$790,000	+13.5%	7,504	+1.2%	0.16%	+13.8%
IVV	Buy	ISHARES TRcore s&p500 etf	$730,000	+7.0%	2,886	+3.0%	0.14%	+6.6%
HD	Buy	HOME DEPOT INC	$620,000	+9.2%	3,792	+2.5%	0.12%	+8.8%
VNQI	Buy	VANGUARD INTL EQUITY INDEX Fglb ex us etf	$608,000	+5.6%	10,244	+0.0%	0.12%	+5.2%
WFC	Sell	WELLS FARGO CO NEW	$586,000	-1.3%	10,624	-1.0%	0.12%	-0.8%
BRKB	Buy	BERKSHIRE HATHAWAY INC CL B-	$574,000	+16.7%	3,134	+7.9%	0.11%	+16.3%
IBM	Buy	INTERNATIONAL BUSINESS MACHS	$566,000	-5.4%	3,898	+0.3%	0.11%	-5.0%
AMZN	New	AMAZON COM INC	$550,000	–	572	–	0.11%	–
BEN	Sell	FRANKLIN RES INC	$528,000	-9.3%	11,874	-8.7%	0.10%	-9.5%
PM	Buy	PHILIP MORRIS INTL INC	$490,000	-3.2%	4,414	+2.7%	0.10%	-3.0%
HON	Sell	HONEYWELL INTL INC	$484,000	-3.6%	3,418	-9.1%	0.10%	-4.0%
PCLN	Buy	PRICELINE GRP INC	$476,000	0.0%	260	+2.4%	0.10%	0.0%
PEP	New	PEPSICO INC	$436,000	–	3,918	–	0.09%	–
VZ	New	VERIZON COMMUNICATIONS INC	$424,000	–	8,554	–	0.08%	–
VT	New	VANGUARD INTL EQUITY INDEX Ftt wrld st etf	$410,000	–	5,786	–	0.08%	–
SPPP	Exit	SPROTT PHYSICAL PLAT PALLADunit	$0	–	-20,000	–	-0.03%	–
TFX	Exit	TELEFLEX INC	$0	–	-2,216	–	-0.09%	–
TRV	Exit	TRAVELERS COMPANIES INC	$0	–	-4,556	–	-0.12%	–
RAI	Exit	REYNOLDS AMERICAN INC	$0	–	-10,322	–	-0.13%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-1,224	–	-0.23%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-1,374	–	-0.25%	–
CL	Exit	COLGATE PALMOLIVE CO	$0	–	-23,802	–	-0.35%	–
SUB	Exit	ISHARES TRshrt nat mun etf	$0	–	-164,836	–	-3.47%	–

Q2 2017

			Value		Shares		↓ Weighting
VTV	New	VANGUARD INDEX FDSvalue etf	$64,676,000	–	669,794	–	12.86%	–
VUG	New	VANGUARD INDEX FDSgrowth etf	$60,462,000	–	475,934	–	12.02%	–
IWF	New	ISHARES TRrus 1000 grw etf	$60,054,000	–	504,572	–	11.94%	–
EFA	New	ISHARES TRmsci eafe etf	$57,102,000	–	875,788	–	11.36%	–
BIV	New	VANGUARD BD INDEX FD INCintermed term	$42,012,000	–	497,004	–	8.36%	–
IWD	New	ISHARES TRrus 1000 val etf	$25,432,000	–	218,436	–	5.06%	–
IVW	New	ISHARES TRs&p 500 grwt etf	$22,812,000	–	166,698	–	4.54%	–
SUB	New	ISHARES TRshrt nat mun etf	$17,436,000	–	164,836	–	3.47%	–
VEA	New	VANGUARD TAX MANAGED INTL FDftse dev mkt etf	$15,642,000	–	378,558	–	3.11%	–
EFV	New	ISHARES TReafe value etf	$11,722,000	–	226,722	–	2.33%	–
VSS	New	VANGUARD INTL EQUITY INDEX Fftse smcap etf	$9,674,000	–	89,472	–	1.92%	–
VTEB	New	VANGUARD MUN BD FD INCtax exempt bd	$7,568,000	–	147,472	–	1.50%	–
VWO	New	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$7,328,000	–	179,474	–	1.46%	–
VBR	New	VANGUARD INDEX FDSsm cp val etf	$7,240,000	–	58,902	–	1.44%	–
PPG	New	PPG INDS INC	$6,658,000	–	60,542	–	1.32%	–
IVE	New	ISHARES TRs&p 500 val etf	$6,568,000	–	62,572	–	1.31%	–
MCD	New	MCDONALDS CORP	$6,408,000	–	41,842	–	1.27%	–
VTI	New	VANGUARD INDEX FDStotal stk mkt	$5,388,000	–	43,286	–	1.07%	–
BMTC	New	BRYN MAWR BK CORP	$5,030,000	–	118,336	–	1.00%	–
CPB	New	CAMPBELL SOUP CO	$4,512,000	–	86,532	–	0.90%	–
AAPL	New	APPLE INC	$3,680,000	–	25,550	–	0.73%	–
EEM	New	ISHARES TRmsci emg mkt etf	$3,508,000	–	84,750	–	0.70%	–
PFE	New	PFIZER INC	$3,298,000	–	98,190	–	0.66%	–
VBK	New	VANGUARD INDEX FDSsml cp grw etf	$2,936,000	–	20,142	–	0.58%	–
IWN	New	ISHARES TRrus 2000 val etf	$2,802,000	–	23,578	–	0.56%	–
IWM	New	ISHARES TRrussell 2000 etf	$2,780,000	–	19,728	–	0.55%	–
VDE	New	VANGUARD WORLD FDSenergy etf	$2,036,000	–	23,008	–	0.40%	–
WTR	New	AQUA AMERICA INC	$2,018,000	–	60,612	–	0.40%	–
CL	New	COLGATE PALMOLIVE CO	$1,764,000	–	23,802	–	0.35%	–
JNJ	New	JOHNSON & JOHNSON	$1,644,000	–	12,424	–	0.33%	–
XOM	New	EXXON MOBIL CORP	$1,490,000	–	18,448	–	0.30%	–
IJS	New	ISHARES TRsp smcp600vl etf	$1,444,000	–	10,332	–	0.29%	–
MSFT	New	MICROSOFT CORP	$1,412,000	–	20,492	–	0.28%	–
VV	New	VANGUARD INDEX FDSlarge cap etf	$1,380,000	–	12,428	–	0.27%	–
MRK	New	MERCK & CO INC	$1,254,000	–	19,570	–	0.25%	–
GOOG	New	ALPHABET INCcap stk cl c	$1,248,000	–	1,374	–	0.25%	–
AMGN	New	AMGEN INC	$1,164,000	–	6,762	–	0.23%	–
GOOGL	New	ALPHABET INCcap stk cl a	$1,138,000	–	1,224	–	0.23%	–
VNQ	New	VANGUARD INDEX FDSreit etf	$1,110,000	–	13,334	–	0.22%	–
MO	New	ALTRIA GROUP INC	$1,076,000	–	14,442	–	0.21%	–
CSX	New	CSX CORP	$1,012,000	–	18,554	–	0.20%	–
ABBV	New	Abbvie Inc	$960,000	–	13,248	–	0.19%	–
MUB	New	ISHARES TRnational mun etf	$952,000	–	8,650	–	0.19%	–
CVX	New	CHEVRON CORP NEW	$884,000	–	8,464	–	0.18%	–
DIS	New	DISNEY WALT CO	$880,000	–	8,284	–	0.18%	–
GE	New	GENERAL ELECTRIC CO	$876,000	–	32,450	–	0.17%	–
KO	New	COCA COLA CO	$844,000	–	18,814	–	0.17%	–
AXDX	New	Accelerate Diagnostics Inc	$712,000	–	26,000	–	0.14%	–
V	New	VISA INC	$696,000	–	7,414	–	0.14%	–
IVV	New	ISHARES TRcore s&p500 etf	$682,000	–	2,802	–	0.14%	–
RAI	New	REYNOLDS AMERICAN INC	$672,000	–	10,322	–	0.13%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$598,000	–	3,886	–	0.12%	–
WFC	New	WELLS FARGO CO NEW	$594,000	–	10,726	–	0.12%	–
BEN	New	FRANKLIN RES INC	$582,000	–	13,000	–	0.12%	–
TRV	New	TRAVELERS COMPANIES INC	$576,000	–	4,556	–	0.12%	–
SCZ	New	ISHARES TReafe sml cp etf	$578,000	–	10,000	–	0.12%	–
VNQI	New	VANGUARD INTL EQUITY INDEX Fglb ex us etf	$576,000	–	10,242	–	0.12%	–
HD	New	HOME DEPOT INC	$568,000	–	3,700	–	0.11%	–
WMT	New	WAL-MART STORES INC	$546,000	–	7,220	–	0.11%	–
NTRI	New	NUTRI SYS INC NEW	$548,000	–	10,538	–	0.11%	–
BA	New	BOEING CO	$526,000	–	2,662	–	0.10%	–
PM	New	PHILIP MORRIS INTL INC	$506,000	–	4,300	–	0.10%	–
HON	New	HONEYWELL INTL INC	$502,000	–	3,760	–	0.10%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$492,000	–	2,904	–	0.10%	–
PCLN	New	PRICELINE GRP INC	$476,000	–	254	–	0.10%	–
MMM	New	3M CO	$464,000	–	2,230	–	0.09%	–
MA	New	MASTERCARD INCORPORATEDcl a	$462,000	–	3,800	–	0.09%	–
TFX	New	TELEFLEX INC	$460,000	–	2,216	–	0.09%	–
RPM	New	RPM INTL INC	$442,000	–	8,088	–	0.09%	–
VOT	New	VANGUARD INDEX FDSmcap gr idxvip	$418,000	–	3,558	–	0.08%	–
FRBK	New	REPUBLIC FIRST BANCORP INC	$382,000	–	41,194	–	0.08%	–
PHYS	New	SPROTT PHYSICAL GOLD TRUSTunit	$224,000	–	22,054	–	0.04%	–
SPPP	New	SPROTT PHYSICAL PLAT PALLADunit	$160,000	–	20,000	–	0.03%	–
GSAT	New	GLOBALSTAR INC	$72,000	–	34,272	–	0.01%	–

Q4 2016

			Value		Shares		↓ Weighting
VNRSQ	Exit	VANGUARD NAT RES LLC	$0	–	-20,318	–	-0.00%	–
GSAT	Exit	GLOBALSTAR INC	$0	–	-76,700	–	-0.02%	–
FRBK	Exit	REPUBLIC FIRST BANCORP INC	$0	–	-33,194	–	-0.03%	–
PHYS	Exit	SPROTT PHYSICAL GOLD TRUSTunit	$0	–	-22,054	–	-0.06%	–
SPPP	Exit	SPROTT PHYSICAL PLAT PALLADunit	$0	–	-50,000	–	-0.09%	–
VT	Exit	VANGUARD INTL EQUITY INDEX Ftt wrld st etf	$0	–	-6,878	–	-0.10%	–
KMB	Exit	KIMBERLY CLARK CORP	$0	–	-3,312	–	-0.10%	–
PM	Exit	PHILIP MORRIS INTL INC	$0	–	-4,536	–	-0.10%	–
HON	Exit	HONEYWELL INTL INC	$0	–	-3,858	–	-0.11%	–
MMM	Exit	3M CO	$0	–	-2,550	–	-0.11%	–
BEN	Exit	FRANKLIN RES INC	$0	–	-13,000	–	-0.11%	–
FNV	Exit	FRANCO NEVADA CORP	$0	–	-6,600	–	-0.11%	–
HD	Exit	HOME DEPOT INC	$0	–	-3,656	–	-0.11%	–
WFC	Exit	WELLS FARGO & CO NEW	$0	–	-10,826	–	-0.11%	–
PG	Exit	PROCTER AND GAMBLE CO	$0	–	-5,390	–	-0.11%	–
RAI	Exit	REYNOLDS AMERICAN INC	$0	–	-10,628	–	-0.12%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-6,504	–	-0.12%	–
VZ	Exit	VERIZON COMMUNICATIONS INC	$0	–	-9,940	–	-0.12%	–
SCZ	Exit	ISHARES TReafe sml cp etf	$0	–	-10,000	–	-0.12%	–
TDY	Exit	TELEDYNE TECHNOLOGIES INC	$0	–	-5,020	–	-0.13%	–
TRV	Exit	TRAVELERS COMPANIES INC	$0	–	-4,778	–	-0.13%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-3,818	–	-0.13%	–
PCLN	Exit	PRICELINE GRP INC	$0	–	-378	–	-0.13%	–
CSX	Exit	CSX CORP	$0	–	-18,650	–	-0.13%	–
WMT	Exit	WAL-MART STORES INC	$0	–	-8,216	–	-0.14%	–
IVV	Exit	ISHARES TRcore s&p500 etf	$0	–	-2,750	–	-0.14%	–
V	Exit	VISA INC	$0	–	-7,386	–	-0.14%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-3,998	–	-0.15%	–
AXDX	Exit	ACCELERATE DIAGNOSTICS INC	$0	–	-26,000	–	-0.17%	–
DIS	Exit	DISNEY WALT CO	$0	–	-8,220	–	-0.18%	–
MDT	Exit	MEDTRONIC PLC	$0	–	-9,182	–	-0.19%	–
ABBV	Exit	ABBVIE INC	$0	–	-13,370	–	-0.20%	–
KO	Exit	COCA COLA CO	$0	–	-20,796	–	-0.21%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-8,986	–	-0.22%	–
MO	Exit	ALTRIA GROUP INC	$0	–	-14,654	–	-0.22%	–
GSK	Exit	GLAXOSMITHKLINE PLCsponsored adr	$0	–	-22,870	–	-0.23%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-33,476	–	-0.23%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-1,236	–	-0.23%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-1,340	–	-0.24%	–
AMGN	Exit	AMGEN INC	$0	–	-6,786	–	-0.27%	–
VNQ	Exit	VANGUARD INDEX FDSreit etf	$0	–	-13,466	–	-0.28%	–
VV	Exit	VANGUARD INDEX FDSlarge cap etf	$0	–	-12,708	–	-0.30%	–
IJS	Exit	ISHARES TRsp smcp600vl etf	$0	–	-11,204	–	-0.33%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-12,488	–	-0.35%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-26,246	–	-0.36%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-18,802	–	-0.39%	–
MRK	Exit	MERCK & CO INC	$0	–	-26,524	–	-0.39%	–
CL	Exit	COLGATE PALMOLIVE CO	$0	–	-23,802	–	-0.42%	–
VDE	Exit	VANGUARD WORLD FDSenergy etf	$0	–	-19,754	–	-0.45%	–
IWM	Exit	ISHARES TRrussell 2000 etf	$0	–	-19,264	–	-0.56%	–
VBK	Exit	VANGUARD INDEX FDSsml cp grw etf	$0	–	-18,868	–	-0.58%	–
IWN	Exit	ISHARES TRrus 2000 val etf	$0	–	-24,254	–	-0.60%	–
CPB	Exit	CAMPBELL SOUP CO	$0	–	-49,596	–	-0.64%	–
AAPL	Exit	APPLE INC	$0	–	-25,472	–	-0.68%	–
WTR	Exit	AQUA AMERICA INC	$0	–	-103,526	–	-0.74%	–
EEM	Exit	ISHARES TRmsci emg mkt etf	$0	–	-91,098	–	-0.80%	–
BMTC	Exit	BRYN MAWR BK CORP	$0	–	-118,336	–	-0.89%	–
MCD	Exit	MCDONALDS CORP	$0	–	-42,136	–	-1.14%	–
VTI	Exit	VANGUARD INDEX FDStotal stk mkt	$0	–	-45,080	–	-1.18%	–
PFE	Exit	PFIZER INC	$0	–	-149,676	–	-1.19%	–
VBR	Exit	VANGUARD INDEX FDSsm cp val etf	$0	–	-55,504	–	-1.44%	–
PPG	Exit	PPG INDS INC	$0	–	-60,500	–	-1.47%	–
IVE	Exit	ISHARES TRs&p 500 val etf	$0	–	-69,462	–	-1.55%	–
VWO	Exit	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$0	–	-177,788	–	-1.57%	–
VSS	Exit	VANGUARD INTL EQUITY INDEX Fftse smcap etf	$0	–	-81,422	–	-1.90%	–
EFV	Exit	ISHARES TReafe value etf	$0	–	-211,026	–	-2.29%	–
VEA	Exit	VANGUARD TAX MANAGED INTL FDftse dev mkt etf	$0	–	-366,034	–	-3.22%	–
IVW	Exit	ISHARES TRs&p 500 grwt etf	$0	–	-178,032	–	-5.09%	–
IWD	Exit	ISHARES TRrus 1000 val etf	$0	–	-231,800	–	-5.75%	–
BIV	Exit	VANGUARD BD INDEX FD INCintermed term	$0	–	-465,184	–	-9.58%	–
EFA	Exit	ISHARES TRmsci eafe etf	$0	–	-782,650	–	-10.88%	–
IWF	Exit	ISHARES TRrus 1000 grw etf	$0	–	-507,166	–	-12.42%	–
VTV	Exit	VANGUARD INDEX FDSvalue etf	$0	–	-610,748	–	-12.49%	–
VUG	Exit	VANGUARD INDEX FDSgrowth etf	$0	–	-474,810	–	-12.53%	–

Q3 2016

			Value		Shares		↓ Weighting
VUG	Sell	VANGUARD INDEX FDSgrowth etf	$53,316,000	+3.7%	474,810	-1.0%	12.53%	-7.2%
VTV	Buy	VANGUARD INDEX FDSvalue etf	$53,136,000	+5.0%	610,748	+2.6%	12.49%	-6.0%
IWF	Sell	ISHARES TRrus 1000 grw etf	$52,832,000	+1.8%	507,166	-2.0%	12.42%	-9.0%
EFA	Sell	ISHARES TRmsci eafe etf	$46,278,000	+5.6%	782,650	-0.3%	10.88%	-5.6%
BIV	Buy	VANGUARD BD INDEX FD INCintermed term	$40,778,000	+1.1%	465,184	+1.6%	9.58%	-9.5%
IWD	Sell	ISHARES TRrus 1000 val etf	$24,482,000	-1.7%	231,800	-4.0%	5.75%	-12.1%
IVW	Sell	ISHARES TRs&p 500 grwt etf	$21,660,000	+1.9%	178,032	-2.3%	5.09%	-8.8%
VEA	Buy	VANGUARD TAX MANAGED INTL FDftse dev mkt etf	$13,694,000	+40.2%	366,034	+32.5%	3.22%	+25.4%
EFV	Sell	ISHARES TReafe value etf	$9,740,000	+4.5%	211,026	-2.8%	2.29%	-6.6%
VSS	Buy	VANGUARD INTL EQUITY INDEX Fftse smcap etf	$8,104,000	+9.0%	81,422	+2.0%	1.90%	-2.5%
VWO	Buy	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$6,690,000	+20.5%	177,788	+12.8%	1.57%	+7.7%
IVE	Sell	ISHARES TRs&p 500 val etf	$6,596,000	+1.7%	69,462	-0.5%	1.55%	-9.1%
PPG	Buy	PPG INDS INC	$6,254,000	+1.8%	60,500	+2.5%	1.47%	-8.9%
VBR	Buy	VANGUARD INDEX FDSsm cp val etf	$6,142,000	+7.9%	55,504	+2.7%	1.44%	-3.4%
PFE	Buy	PFIZER INC	$5,070,000	+1.7%	149,676	+5.7%	1.19%	-8.9%
VTI	New	VANGUARD INDEX FDStotal stk mkt	$5,018,000	–	45,080	–	1.18%	–
MCD	Buy	MCDONALDS CORP	$4,860,000	+60.7%	42,136	+67.7%	1.14%	+43.6%
BMTC	New	BRYN MAWR BK CORP	$3,786,000	–	118,336	–	0.89%	–
EEM	Sell	ISHARES TRmsci emg mkt etf	$3,412,000	+6.7%	91,098	-2.1%	0.80%	-4.5%
WTR	Buy	AQUA AMERICA INC	$3,156,000	-14.0%	103,526	+0.6%	0.74%	-23.0%
AAPL	Buy	APPLE INC	$2,880,000	+26.0%	25,472	+6.5%	0.68%	+12.6%
CPB	New	CAMPBELL SOUP CO	$2,712,000	–	49,596	–	0.64%	–
IWN	Sell	ISHARES TRrus 2000 val etf	$2,540,000	+7.0%	24,254	-0.6%	0.60%	-4.3%
VBK	Sell	VANGUARD INDEX FDSsml cp grw etf	$2,486,000	+4.6%	18,868	-1.6%	0.58%	-6.4%
IWM	Buy	ISHARES TRrussell 2000 etf	$2,392,000	+10.8%	19,264	+2.6%	0.56%	-0.9%
VDE	Buy	VANGUARD WORLD FDSenergy etf	$1,930,000	+14.2%	19,754	+11.2%	0.45%	+2.3%
CL	New	COLGATE PALMOLIVE CO	$1,764,000	–	23,802	–	0.42%	–
MRK	Buy	MERCK & CO INC	$1,656,000	+12.2%	26,524	+3.5%	0.39%	+0.3%
XOM	New	EXXON MOBIL CORP	$1,642,000	–	18,802	–	0.39%	–
MSFT	Buy	MICROSOFT CORP	$1,512,000	+183.1%	26,246	+151.9%	0.36%	+153.6%
JNJ	Buy	JOHNSON & JOHNSON	$1,476,000	+48.5%	12,488	+52.5%	0.35%	+33.0%
IJS	Sell	ISHARES TRsp smcp600vl etf	$1,398,000	+1.9%	11,204	-4.5%	0.33%	-8.6%
AMGN	Buy	AMGEN INC	$1,132,000	+147.2%	6,786	+125.4%	0.27%	+121.7%
GOOG	Buy	ALPHABET INCcap stk cl c	$1,042,000	+19.5%	1,340	+6.3%	0.24%	+7.0%
GOOGL	Buy	ALPHABET INCcap stk cl a	$994,000	+14.8%	1,236	+0.5%	0.23%	+2.6%
GE	Buy	GENERAL ELECTRIC CO	$992,000	+11.0%	33,476	+17.8%	0.23%	-0.9%
GSK	Buy	GLAXOSMITHKLINE PLCsponsored adr	$986,000	+0.6%	22,870	+1.1%	0.23%	-9.7%
MO	Buy	ALTRIA GROUP INC	$926,000	+40.3%	14,654	+53.3%	0.22%	+26.0%
CVX	New	CHEVRON CORP NEW	$924,000	–	8,986	–	0.22%	–
KO	New	COCA COLA CO	$880,000	–	20,796	–	0.21%	–
ABBV	Buy	ABBVIE INC	$844,000	+36.1%	13,370	+33.4%	0.20%	+21.5%
MDT	Buy	MEDTRONIC PLC	$794,000	+17.5%	9,182	+18.0%	0.19%	+5.1%
DIS	New	DISNEY WALT CO	$764,000	–	8,220	–	0.18%	–
AXDX	New	ACCELERATE DIAGNOSTICS INC	$708,000	–	26,000	–	0.17%	–
IBM	Buy	INTERNATIONAL BUSINESS MACHS	$636,000	+37.7%	3,998	+31.2%	0.15%	+23.1%
V	Buy	VISA INC	$610,000	+11.7%	7,386	+0.2%	0.14%	0.0%
IVV	Sell	ISHARES TRcore s&p500 etf	$598,000	-2.3%	2,750	-5.5%	0.14%	-12.4%
WMT	Buy	WAL-MART STORES INC	$592,000	+4.6%	8,216	+5.9%	0.14%	-6.7%
CSX	New	CSX CORP	$568,000	–	18,650	–	0.13%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$552,000	–	3,818	–	0.13%	–
TRV	Buy	TRAVELERS COMPANIES INC	$548,000	+34.3%	4,778	+39.1%	0.13%	+20.6%
TDY	New	TELEDYNE TECHNOLOGIES INC	$542,000	–	5,020	–	0.13%	–
VZ	Buy	VERIZON COMMUNICATIONS INC	$516,000	+27.1%	9,940	+36.7%	0.12%	+13.1%
SLB	New	SCHLUMBERGER LTD	$512,000	–	6,504	–	0.12%	–
RAI	Buy	REYNOLDS AMERICAN INC	$502,000	+14.6%	10,628	+30.8%	0.12%	+2.6%
PG	New	PROCTER AND GAMBLE CO	$484,000	–	5,390	–	0.11%	–
WFC	New	WELLS FARGO & CO NEW	$480,000	–	10,826	–	0.11%	–
HD	New	HOME DEPOT INC	$470,000	–	3,656	–	0.11%	–
FNV	New	FRANCO NEVADA CORP	$462,000	–	6,600	–	0.11%	–
HON	New	HONEYWELL INTL INC	$450,000	–	3,858	–	0.11%	–
MMM	Buy	3M CO	$450,000	+10.8%	2,550	+10.2%	0.11%	-0.9%
PM	Buy	PHILIP MORRIS INTL INC	$440,000	+4.3%	4,536	+9.4%	0.10%	-7.2%
VT	New	VANGUARD INTL EQUITY INDEX Ftt wrld st etf	$418,000	–	6,878	–	0.10%	–
KMB	Buy	KIMBERLY CLARK CORP	$418,000	-4.6%	3,312	+4.2%	0.10%	-14.8%
SPPP	Buy	SPROTT PHYSICAL PLAT PALLADunit	$384,000	+37.1%	50,000	+25.0%	0.09%	+21.6%
PHYS	New	SPROTT PHYSICAL GOLD TRUSTunit	$242,000	–	22,054	–	0.06%	–
FRBK	New	REPUBLIC FIRST BANCORP INC	$136,000	–	33,194	–	0.03%	–
VNRSQ	New	VANGUARD NAT RES LLC	$18,000	–	20,318	–	0.00%	–
THS	Exit	TREEHOUSE FOODS INC	$0	–	-4,000	–	-0.11%	–
LQD	Exit	ISHARES TRiboxx inv cp etf	$0	–	-4,212	–	-0.14%	–

Q2 2016

			Value		Shares		↓ Weighting
IWF	New	ISHARES TRrus 1000 grw etf	$51,922,000	–	517,354	–	13.64%	–
VUG	New	VANGUARD INDEX FDSgrowth etf	$51,412,000	–	479,590	–	13.51%	–
VTV	New	VANGUARD INDEX FDSvalue etf	$50,584,000	–	595,168	–	13.29%	–
EFA	New	ISHARES TRmsci eafe etf	$43,836,000	–	785,300	–	11.52%	–
BIV	New	VANGUARD BD INDEX FD INCintermed term	$40,324,000	–	457,858	–	10.60%	–
IWD	New	ISHARES TRrus 1000 val etf	$24,916,000	–	241,358	–	6.55%	–
IVW	New	ISHARES TRs&p 500 grwt etf	$21,250,000	–	182,272	–	5.58%	–
VEA	New	VANGUARD TAX MANAGED INTL FDftse dev mkt etf	$9,770,000	–	276,292	–	2.57%	–
EFV	New	ISHARES TReafe value etf	$9,324,000	–	217,124	–	2.45%	–
VSS	New	VANGUARD INTL EQUITY INDEX Fftse smcap etf	$7,432,000	–	79,842	–	1.95%	–
IVE	New	ISHARES TRs&p 500 val etf	$6,488,000	–	69,838	–	1.70%	–
PPG	New	PPG INDS INC	$6,144,000	–	58,998	–	1.61%	–
VBR	New	VANGUARD INDEX FDSsm cp val etf	$5,692,000	–	54,044	–	1.50%	–
VWO	New	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$5,554,000	–	157,646	–	1.46%	–
PFE	New	PFIZER INC	$4,984,000	–	141,574	–	1.31%	–
WTR	New	AQUA AMERICA INC	$3,670,000	–	102,908	–	0.96%	–
EEM	New	ISHARES TRmsci emg mkt etf	$3,198,000	–	93,098	–	0.84%	–
MCD	New	MCDONALDS CORP	$3,024,000	–	25,126	–	0.80%	–
VBK	New	VANGUARD INDEX FDSsml cp grw etf	$2,376,000	–	19,172	–	0.62%	–
IWN	New	ISHARES TRrus 2000 val etf	$2,374,000	–	24,408	–	0.62%	–
AAPL	New	APPLE INC	$2,286,000	–	23,908	–	0.60%	–
IWM	New	ISHARES TRrussell 2000 etf	$2,158,000	–	18,768	–	0.57%	–
VDE	New	VANGUARD WORLD FDSenergy etf	$1,690,000	–	17,768	–	0.44%	–
MRK	New	MERCK & CO INC	$1,476,000	–	25,636	–	0.39%	–
IJS	New	ISHARES TRsp smcp600vl etf	$1,372,000	–	11,738	–	0.36%	–
VV	New	VANGUARD INDEX FDSlarge cap etf	$1,218,000	–	12,708	–	0.32%	–
VNQ	New	VANGUARD INDEX FDSreit etf	$1,194,000	–	13,466	–	0.31%	–
JNJ	New	JOHNSON & JOHNSON	$994,000	–	8,188	–	0.26%	–
GSK	New	GLAXOSMITHKLINE PLCsponsored adr	$980,000	–	22,626	–	0.26%	–
GE	New	GENERAL ELECTRIC CO	$894,000	–	28,408	–	0.24%	–
GOOG	New	ALPHABET INCcap stk cl c	$872,000	–	1,260	–	0.23%	–
GOOGL	New	ALPHABET INCcap stk cl a	$866,000	–	1,230	–	0.23%	–
MDT	New	MEDTRONIC PLC	$676,000	–	7,782	–	0.18%	–
MO	New	ALTRIA GROUP INC	$660,000	–	9,562	–	0.17%	–
ABBV	New	ABBVIE INC	$620,000	–	10,026	–	0.16%	–
IVV	New	ISHARES TRcore s&p500 etf	$612,000	–	2,910	–	0.16%	–
WMT	New	WAL-MART STORES INC	$566,000	–	7,760	–	0.15%	–
V	New	VISA INC	$546,000	–	7,374	–	0.14%	–
MSFT	New	MICROSOFT CORP	$534,000	–	10,420	–	0.14%	–
LQD	New	ISHARES TRiboxx inv cp etf	$516,000	–	4,212	–	0.14%	–
SCZ	New	ISHARES TReafe sml cp etf	$482,000	–	10,000	–	0.13%	–
PCLN	New	PRICELINE GRP INC	$472,000	–	378	–	0.12%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$462,000	–	3,048	–	0.12%	–
AMGN	New	AMGEN INC	$458,000	–	3,010	–	0.12%	–
KMB	New	KIMBERLY CLARK CORP	$438,000	–	3,180	–	0.12%	–
RAI	New	REYNOLDS AMERICAN INC	$438,000	–	8,128	–	0.12%	–
BEN	New	FRANKLIN RES INC	$434,000	–	13,000	–	0.11%	–
PM	New	PHILIP MORRIS INTL INC	$422,000	–	4,146	–	0.11%	–
THS	New	TREEHOUSE FOODS INC	$410,000	–	4,000	–	0.11%	–
TRV	New	TRAVELERS COMPANIES INC	$408,000	–	3,434	–	0.11%	–
VZ	New	VERIZON COMMUNICATIONS INC	$406,000	–	7,274	–	0.11%	–
MMM	New	3M CO	$406,000	–	2,314	–	0.11%	–
SPPP	New	SPROTT PHYSICAL PLAT PALLADunit	$280,000	–	40,000	–	0.07%	–
GSAT	New	GLOBALSTAR INC	$92,000	–	76,700	–	0.02%	–

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Export Independence Advisors, LLC's holdings