CONNORS INVESTOR SERVICES INC Activity Q4 1999-Q3 2023

Q3 2023

			Value		Shares		↓ Weighting
SPY	Sell	SPDR S & P 500 INDEX	$45,180	-7.6%	105,688	-4.2%	5.56%	+0.5%
MSFT	Sell	MICROSOFT	$32,445	-8.0%	102,815	-0.7%	4.00%	+0.2%
AAPL	Sell	APPLE	$31,469	-21.6%	184,046	-11.1%	3.88%	-14.7%
GOOGL	Sell	ALPHABET CLASS A	$22,600	+7.1%	172,780	-2.0%	2.78%	+16.6%
IWM	Sell	ISHARES RUSSELL 2000 INDEX	$17,810	-9.0%	100,772	-3.5%	2.19%	-0.9%
MS	Buy	MORGAN STANLEY	$17,006	+16.3%	208,227	+21.6%	2.09%	+26.5%
ABT	Sell	ABBOTT LABORATORIES	$16,624	-11.8%	171,897	-0.6%	2.05%	-4.0%
LLY	Sell	LILLY ELI	$15,491	+4.6%	28,840	-8.7%	1.91%	+13.7%
SYK	Buy	STRYKER	$15,289	-6.6%	55,949	+4.3%	1.88%	+1.6%
AMZN	Buy	AMAZONCOM	$14,863	+2.0%	116,920	+4.6%	1.83%	+10.9%
ABBV	Sell	ABBVIE	$14,800	+8.0%	99,291	-2.4%	1.82%	+17.4%
CVX	Buy	CHEVRON	$14,543	+25.5%	86,408	+17.4%	1.79%	+36.6%
COST	Buy	COSTCO WHOLESALE	$14,527	+5.4%	25,728	+0.5%	1.79%	+14.8%
PEP	Sell	PEPSICO	$14,358	-62.8%	84,839	-59.3%	1.77%	-59.5%
PG	Buy	PROCTER & GAMBLE	$14,218	+1.9%	97,541	+6.1%	1.75%	+10.9%
CB	Sell	CHUBB	$13,961	+6.8%	67,061	-1.3%	1.72%	+16.1%
LIN	Buy	LINDE PLC	$13,905	-0.5%	37,343	+1.8%	1.71%	+8.2%
ADBE	Buy	ADOBE	$13,874	+23.3%	27,209	+18.2%	1.71%	+34.1%
PANW	Buy	PALO ALTO NETWORKS	$13,833	-8.1%	59,005	+0.2%	1.70%	0.0%
V	Buy	VISA	$13,557	+3.8%	58,989	+7.3%	1.67%	+12.9%
RTX	Sell	RAYTHEON TECHNOLOGIES	$12,919	-28.5%	179,654	-2.6%	1.59%	-22.2%
JNJ	Sell	JOHNSON & JOHNSON	$12,923	-9.8%	82,974	-4.1%	1.59%	-1.9%
LOW	Buy	LOWES	$12,915	-6.5%	62,140	+1.5%	1.59%	+1.7%
DASH	Sell	DOORDASH	$12,837	+2.1%	161,538	-1.8%	1.58%	+11.1%
AXP	Buy	AMERICAN EXPRESS	$12,702	-13.6%	85,239	+1.0%	1.56%	-6.0%
MRK	Sell	MERCK	$12,701	-11.4%	123,527	-0.6%	1.56%	-3.6%
SLB	Buy	SCHLUMBERGER	$12,565	+27.6%	215,523	+7.5%	1.55%	+38.9%
TJX	Sell	TJX COMPANIES	$12,220	+4.3%	137,584	-0.5%	1.50%	+13.5%
EMR	Buy	EMERSON ELECTRIC	$12,186	+670.3%	126,190	+621.1%	1.50%	+738.0%
CSCO	Sell	CISCO SYSTEMS	$12,113	-0.7%	225,479	-4.4%	1.49%	+8.0%
ORCL	Buy	ORACLE	$11,979	+64.1%	113,094	+84.4%	1.48%	+78.6%
HON	Buy	HONEYWELL INTERNATIONAL	$11,839	-5.5%	64,087	+6.1%	1.46%	+2.8%
MCD	Buy	MCDONALDS	$11,692	-10.9%	44,433	+1.0%	1.44%	-3.0%
JPM	Buy	JPMORGAN CHASE	$11,217	+0.3%	77,345	+0.5%	1.38%	+9.1%
ETN	Sell	EATON	$11,154	-34.2%	52,346	-37.9%	1.37%	-28.4%
FB	Buy	META PLATFORMS	$10,662	+16.9%	35,516	+11.8%	1.31%	+27.2%
ZTS	Buy	ZOETIS	$10,391	+9.6%	59,726	+8.5%	1.28%	+19.2%
SWK	Buy	STANLEY BLACK & DECKER	$10,243	-0.7%	122,555	+11.3%	1.26%	+8.0%
WFC	Sell	WELLS FARGO	$10,045	-13.6%	246,060	-9.7%	1.24%	-6.0%
ADI	Buy	ANALOG DEVICES	$9,533	-9.6%	54,444	+0.5%	1.17%	-1.7%
DD	Buy	DUPONT DE NEMOURS	$9,004	+804.9%	120,707	+766.3%	1.11%	+881.4%
AMD	Buy	ADVANCED MICRO DEVICES	$8,998	-1.6%	87,517	+9.0%	1.11%	+7.1%
O	Sell	REALTY INCOME	$8,175	-19.6%	163,687	-3.7%	1.01%	-12.5%
KO	Sell	COCACOLA	$7,728	-7.1%	138,051	-0.1%	0.95%	+1.1%
VWO	Sell	VANGUARD FTSE EMERGING MARKETS ETF	$7,111	-3.7%	181,366	-0.1%	0.88%	+4.8%
NEE	Sell	NEXTERA ENERGY RESOURCES	$6,964	-27.2%	121,555	-5.7%	0.86%	-20.9%
NVDA	Sell	NVIDIA	$5,462	-2.5%	12,556	-5.1%	0.67%	+6.2%
COP	Buy	CONOCOPHILLIPS	$5,157	+16.0%	43,047	+0.3%	0.64%	+26.2%
EFA	Buy	ISHARES MSCI EAFE INDEX	$4,680	+1.3%	67,902	+6.5%	0.58%	+10.1%
CFLT	Sell	CONFLUENT	$4,323	-18.9%	146,000	-3.3%	0.53%	-11.8%
CVGW	Buy	CALAVO GROWERS INC	$3,995	+0.6%	158,601	+15.8%	0.49%	+9.3%
VSS	Buy	VANGUARD FTSE ALLWORLD EXUS SMALLCAP ETF	$3,626	+2.7%	34,142	+6.8%	0.45%	+11.5%
	New	GOLDMAN SACHS GQG PARTNERS INTERNATIONAL	$3,570	–	198,020	–	0.44%	–
	New	GQG PARTNERS EMERGING MARKETS EQUITY	$3,464	–	239,034	–	0.43%	–
AVAV	Sell	AEROVIRONMENT INC	$3,352	+8.1%	30,170	-0.5%	0.41%	+17.7%
SM	Buy	SM ENERGY CO	$3,350	+25.7%	84,493	+0.2%	0.41%	+36.4%
IMAX	Sell	IMAX CORP	$3,267	-4.2%	169,892	-15.3%	0.40%	+4.1%
IOSP	Sell	INNOSPEC INC	$3,206	+0.8%	31,492	-0.5%	0.40%	+9.7%
AMN	Sell	AMN HEALTHCARE SERVICES INC	$3,063	-22.8%	36,049	-0.8%	0.38%	-16.0%
NVEE	Sell	NV5 GLOBAL INC	$3,054	-14.0%	31,819	-0.8%	0.38%	-6.5%
RBLX	Sell	ROBLOX	$3,041	-29.5%	105,000	-1.9%	0.37%	-23.4%
HSTM	Sell	HEALTHSTREAM INC	$2,831	-13.8%	131,818	-1.5%	0.35%	-6.2%
GMRE	Sell	GLOBAL MEDICAL REIT INC	$2,786	-2.3%	311,425	-0.3%	0.34%	+6.2%
THRM	Sell	GENTHERM INC	$2,648	-4.5%	48,996	-0.2%	0.33%	+3.8%
CLNE	Sell	CLEAN ENERGY FUELS CORP	$2,517	-23.5%	658,832	-0.7%	0.31%	-16.7%
HCSG	Buy	HEALTHCARE SERVICES GROUP INC	$2,513	-9.9%	241,519	+29.3%	0.31%	-2.2%
APOG	Sell	APOGEE ENTERPRISES INC	$2,490	-3.0%	53,197	-1.6%	0.31%	+5.9%
SFM	Buy	SPROUTS FARMERS MARKET INC	$2,488	+17.0%	58,125	+0.4%	0.31%	+27.0%
SFNC	Sell	SIMMONS FIRST NATIONAL CORP	$2,474	-2.3%	146,462	-0.2%	0.30%	+6.3%
HCKT	Sell	THE HACKETT GROUP INC	$2,451	+4.7%	104,231	-0.5%	0.30%	+14.0%
CRY	Sell	ARTIVION INC	$2,396	-12.7%	158,516	-0.8%	0.30%	-5.1%
DEA	Sell	EASTERLY GOVERNMENT PROPERTIES INC	$2,389	-21.6%	209,565	-0.3%	0.29%	-14.8%
CYRX	Buy	CRYOPORT INC	$2,364	+4.8%	172,867	+32.2%	0.29%	+14.1%
AMRC	Sell	AMERESCO INC	$2,351	-21.6%	61,188	-0.8%	0.29%	-15.0%
SSTK	Buy	SHUTTERSTOCK INC	$2,347	-8.1%	61,847	+17.9%	0.29%	0.0%
CPSI	Buy	COMPUTER PROGRAMS & SYSTEMS INC	$2,281	-10.8%	143,541	+38.6%	0.28%	-2.8%
SHYF	Buy	SHYFT GROUP INC	$2,276	-4.7%	152,047	+40.4%	0.28%	+3.7%
SMTC	Sell	SEMTECH CORP	$2,244	-16.2%	87,136	-17.1%	0.28%	-8.9%
IMXI	Buy	INTERNATIONAL MONEY EXPRESS INC	$2,210	+7.2%	130,509	+55.4%	0.27%	+16.7%
CYBR	Sell	CYBERARK SOFTWARE LTD	$2,017	-35.8%	12,397	-38.3%	0.25%	-30.1%
GDOT	Buy	GREEN DOT CORP	$1,954	-12.3%	140,696	+18.3%	0.24%	-4.4%
TRUP	Sell	TRUPANION INC	$1,936	+18.4%	68,745	-17.2%	0.24%	+28.6%
CMBM	Buy	CAMBIUM NETWORKS CORP	$1,846	-34.5%	252,468	+36.4%	0.23%	-28.8%
AX	Sell	AXOS FINANCIAL INC	$1,722	-44.0%	45,848	-41.2%	0.21%	-39.1%
PETS	Sell	PETMED EXPRESS INC	$1,679	-26.6%	164,174	-1.0%	0.21%	-20.1%
ZETA	New	ZETA GLOBAL HOLDINGS CORP	$1,642	–	196,634	–	0.20%	–
PBH	New	PRESTIGE CONSUMER HEALTHCARE INC	$1,569	–	27,430	–	0.19%	–
UBER	Sell	UBER TECHNOLOGIES	$1,383	+3.9%	30,075	-2.4%	0.17%	+12.6%
OMCL	Sell	OMNICELL INC	$1,344	-59.8%	29,988	-33.9%	0.16%	-56.3%
LOVE	Sell	LOVESAC CO	$966	-27.3%	48,755	-1.1%	0.12%	-20.7%
SONO	Sell	SONOS INC	$920	-22.8%	71,766	-1.6%	0.11%	-16.3%
TGT	Sell	TARGET	$840	-19.9%	7,645	-3.9%	0.10%	-13.4%
QCOM	Sell	QUALCOMM	$781	-22.0%	7,135	-15.2%	0.10%	-15.0%
GS	Sell	GOLDMAN SACHS GROUP	$552	-4.7%	1,725	-3.9%	0.07%	+3.0%
KMB	Sell	KIMBERLYCLARK	$428	-18.3%	3,540	-6.7%	0.05%	-10.2%
DUK	Sell	DUKE ENERGY	$319	-12.1%	3,617	-10.5%	0.04%	-4.9%
UNH	Sell	UNITEDHEALTH	$310	-97.4%	614	-97.6%	0.04%	-97.2%
DOW	Sell	DOW	$311	-5.8%	6,040	-2.4%	0.04%	+2.7%
GIS	Sell	GENERAL MILLS	$283	-20.3%	4,430	-4.3%	0.04%	-12.5%
HSY	Sell	HERSHEY	$274	-25.3%	1,370	-6.8%	0.03%	-19.0%
PFE	Sell	PFIZER	$263	-20.3%	7,943	-11.7%	0.03%	-13.5%
FF	Buy	FUTUREFUEL CORP	$242	-16.0%	33,800	+4.0%	0.03%	-9.1%
CHCT	Buy	COMMUNITY HEALTHCARE TRUST INC	$241	+10.6%	8,100	+22.7%	0.03%	+20.0%
QRHC	Sell	QUEST RESOURCE HOLDING CORP	$236	+11.3%	31,840	-2.0%	0.03%	+20.8%
ITI	Sell	ITERIS INC	$213	+0.5%	51,500	-3.7%	0.03%	+8.3%
QIPT	Buy	QUIPT HOME MEDICAL CORP	$210	+25.7%	41,208	+32.0%	0.03%	+36.8%
UMH	Buy	UMH PROPERTIES INC	$215	+9.1%	15,300	+24.4%	0.03%	+18.2%
BOOM	Sell	DMC GLOBAL INC	$203	+6.8%	8,300	-22.4%	0.02%	+13.6%
ANIK	Buy	ANIKA THERAPEUTICS INC	$199	-6.6%	10,699	+30.5%	0.02%	+4.2%
EGRX	Buy	EAGLE PHARMACEUTICALS INC	$198	+1.0%	12,566	+24.8%	0.02%	+9.1%
ZYXI	Buy	ZYNEX INC	$194	-13.0%	24,250	+4.3%	0.02%	-4.0%
OPRX	Buy	OPTIMIZERX CORP	$175	-33.7%	22,500	+21.6%	0.02%	-26.7%
PAHC	Sell	PHIBRO ANIMAL HEALTH CORP	$181	-12.6%	14,146	-6.3%	0.02%	-4.3%
EVC	Buy	ENTRAVISION COMMUNICATIONS CORP	$161	-8.5%	44,000	+10.0%	0.02%	0.0%
MPX	Sell	MARINE PRODUCTS CORP	$158	-32.2%	11,118	-19.5%	0.02%	-26.9%
TACT	Sell	TRANSACT TECHNOLOGIES INC	$158	-36.5%	24,582	-11.4%	0.02%	-32.1%
AMSWA	New	AMERICAN SOFTWARE INC	$155	–	13,500	–	0.02%	–
NTIC	New	NORTHERN TECHNOLOGIES INTERNATIONAL CORP	$139	–	10,407	–	0.02%	–
PCYG	Sell	PARK CITY GROUP INC	$100	-59.0%	11,463	-52.7%	0.01%	-57.1%
AKTS	Sell	AKOUSTIS TECHNOLOGIES INC	$81	-96.5%	109,701	-85.0%	0.01%	-96.2%
FTCI	New	FTC SOLAR INC	$64	–	50,000	–	0.01%	–
FRST	Exit	PRIMIS FINANCIAL CORP	$0	–	-10,400	–	-0.01%	–
PWFL	Exit	POWERFLEET INC	$0	–	-41,000	–	-0.01%	–
INBK	Exit	FIRST INTERNET BANCORP	$0	–	-10,534	–	-0.02%	–
KMI	Exit	KINDER MORGAN	$0	–	-10,357	–	-0.02%	–
IRMD	Exit	IRADIMED CORP	$0	–	-4,345	–	-0.02%	–
RMD	Exit	RESMED	$0	–	-1,000	–	-0.02%	–
EEFT	Exit	EURONET WORLDWIDE INC	$0	–	-2,000	–	-0.03%	–
DIS	Exit	DISNEY WALT	$0	–	-4,807	–	-0.05%	–
YUMC	Exit	YUM CHINA HOLDINGS	$0	–	-13,600	–	-0.09%	–
YUM	Exit	YUM! BRANDS	$0	–	-6,400	–	-0.10%	–
DWM	Exit	WISDOMTREE DEFA INDEX	$0	–	-73,835	–	-0.42%	–
AMT	Exit	AMERICAN TOWER	$0	–	-32,894	–	-0.72%	–
DE	Exit	DEERE	$0	–	-24,062	–	-1.10%	–

Q2 2023

			Value		Shares		↓ Weighting
SPY	New	SPDR S & P 500 INDEX	$48,900	–	110,313	–	5.53%	–
AAPL	New	APPLE	$40,155	–	207,017	–	4.54%	–
PEP	New	PEPSICO	$38,607	–	208,440	–	4.37%	–
MSFT	New	MICROSOFT	$35,250	–	103,511	–	3.99%	–
GOOGL	New	ALPHABET CLASS A	$21,094	–	176,222	–	2.39%	–
IWM	New	ISHARES RUSSELL 2000 INDEX	$19,564	–	104,472	–	2.21%	–
ABT	New	ABBOTT LABORATORIES	$18,851	–	172,910	–	2.13%	–
RTX	New	RAYTHEON TECHNOLOGIES	$18,077	–	184,536	–	2.05%	–
ETN	New	EATON	$16,950	–	84,285	–	1.92%	–
SYK	New	STRYKER	$16,374	–	53,668	–	1.85%	–
PLTR	New	PALANTIR TECHNOLOGIES	$15,787	–	1,029,828	–	1.79%	–
PANW	New	PALO ALTO NETWORKS	$15,045	–	58,883	–	1.70%	–
LLY	New	LILLY ELI	$14,815	–	31,590	–	1.68%	–
AXP	New	AMERICAN EXPRESS	$14,696	–	84,363	–	1.66%	–
MS	New	MORGAN STANLEY	$14,627	–	171,273	–	1.66%	–
AMZN	New	AMAZONCOM	$14,577	–	111,824	–	1.65%	–
MRK	New	MERCK	$14,341	–	124,282	–	1.62%	–
JNJ	New	JOHNSON & JOHNSON	$14,327	–	86,559	–	1.62%	–
LIN	New	LINDE PLC	$13,981	–	36,687	–	1.58%	–
PG	New	PROCTER & GAMBLE	$13,954	–	91,957	–	1.58%	–
LOW	New	LOWES	$13,817	–	61,219	–	1.56%	–
COST	New	COSTCO WHOLESALE	$13,779	–	25,593	–	1.56%	–
ABBV	New	ABBVIE	$13,710	–	101,762	–	1.55%	–
MCD	New	MCDONALDS	$13,123	–	43,977	–	1.48%	–
CB	New	CHUBB	$13,077	–	67,911	–	1.48%	–
V	New	VISA	$13,061	–	54,998	–	1.48%	–
DASH	New	DOORDASH	$12,574	–	164,538	–	1.42%	–
HON	New	HONEYWELL INTERNATIONAL	$12,530	–	60,386	–	1.42%	–
CSCO	New	CISCO SYSTEMS	$12,199	–	235,775	–	1.38%	–
UNH	New	UNITEDHEALTH	$12,112	–	25,199	–	1.37%	–
TJX	New	TJX COMPANIES	$11,719	–	138,208	–	1.33%	–
WFC	New	WELLS FARGO	$11,629	–	272,471	–	1.32%	–
CVX	New	CHEVRON	$11,584	–	73,621	–	1.31%	–
ADBE	New	ADOBE	$11,253	–	23,012	–	1.27%	–
JPM	New	JPMORGAN CHASE	$11,189	–	76,935	–	1.27%	–
ADI	New	ANALOG DEVICES	$10,549	–	54,150	–	1.19%	–
SWK	New	STANLEY BLACK & DECKER	$10,317	–	110,100	–	1.17%	–
O	New	REALTY INCOME	$10,166	–	170,034	–	1.15%	–
SLB	New	SCHLUMBERGER	$9,845	–	200,424	–	1.11%	–
DE	New	DEERE	$9,750	–	24,062	–	1.10%	–
NEE	New	NEXTERA ENERGY RESOURCES	$9,569	–	128,959	–	1.08%	–
ZTS	New	ZOETIS	$9,480	–	55,047	–	1.07%	–
AMD	New	ADVANCED MICRO DEVICES	$9,144	–	80,276	–	1.04%	–
FB	New	META PLATFORMS	$9,118	–	31,771	–	1.03%	–
KO	New	COCACOLA	$8,323	–	138,204	–	0.94%	–
VWO	New	VANGUARD FTSE EMERGING MARKETS ETF	$7,383	–	181,501	–	0.84%	–
ORCL	New	ORACLE	$7,302	–	61,318	–	0.83%	–
AMT	New	AMERICAN TOWER	$6,379	–	32,894	–	0.72%	–
NVDA	New	NVIDIA	$5,600	–	13,237	–	0.63%	–
CFLT	New	CONFLUENT	$5,332	–	151,000	–	0.60%	–
EFA	New	ISHARES MSCI EAFE INDEX	$4,622	–	63,752	–	0.52%	–
COP	New	CONOCOPHILLIPS	$4,445	–	42,906	–	0.50%	–
RBLX	New	ROBLOX	$4,312	–	107,000	–	0.49%	–
CVGW	New	CALAVO GROWERS INC	$3,973	–	136,907	–	0.45%	–
AMN	New	AMN HEALTHCARE SERVICES INC	$3,967	–	36,355	–	0.45%	–
DWM	New	WISDOMTREE DEFA INDEX	$3,694	–	73,835	–	0.42%	–
NVEE	New	NV5 GLOBAL INC	$3,552	–	32,066	–	0.40%	–
VSS	New	VANGUARD FTSE ALLWORLD EXUS SMALLCAP ETF	$3,532	–	31,974	–	0.40%	–
IMAX	New	IMAX CORP	$3,409	–	200,654	–	0.39%	–
OMCL	New	OMNICELL INC	$3,340	–	45,337	–	0.38%	–
HSTM	New	HEALTHSTREAM INC	$3,286	–	133,795	–	0.37%	–
CLNE	New	CLEAN ENERGY FUELS CORP	$3,290	–	663,206	–	0.37%	–
IOSP	New	INNOSPEC INC	$3,180	–	31,664	–	0.36%	–
CYBR	New	CYBERARK SOFTWARE LTD	$3,140	–	20,083	–	0.36%	–
AVAV	New	AEROVIRONMENT INC	$3,100	–	30,312	–	0.35%	–
AX	New	AXOS FINANCIAL INC	$3,075	–	77,964	–	0.35%	–
DEA	New	EASTERLY GOVERNMENT PROPERTIES INC	$3,049	–	210,298	–	0.34%	–
AMRC	New	AMERESCO INC	$3,000	–	61,687	–	0.34%	–
GMRE	New	GLOBAL MEDICAL REIT INC	$2,853	–	312,515	–	0.32%	–
CMBM	New	CAMBIUM NETWORKS CORP	$2,818	–	185,132	–	0.32%	–
HCSG	New	HEALTHCARE SERVICES GROUP INC	$2,790	–	186,851	–	0.32%	–
THRM	New	GENTHERM INC	$2,773	–	49,070	–	0.31%	–
CRY	New	ARTIVION INC	$2,746	–	159,754	–	0.31%	–
SMTC	New	SEMTECH CORP	$2,677	–	105,144	–	0.30%	–
SM	New	SM ENERGY CO	$2,666	–	84,295	–	0.30%	–
APOG	New	APOGEE ENTERPRISES INC	$2,566	–	54,054	–	0.29%	–
SSTK	New	SHUTTERSTOCK INC	$2,553	–	52,447	–	0.29%	–
CPSI	New	COMPUTER PROGRAMS & SYSTEMS INC	$2,558	–	103,596	–	0.29%	–
SFNC	New	SIMMONS FIRST NATIONAL CORP	$2,532	–	146,799	–	0.29%	–
SHYF	New	SHYFT GROUP INC	$2,388	–	108,264	–	0.27%	–
DFS	New	DISCOVER FINANCIAL SERVICES	$2,374	–	20,319	–	0.27%	–
HCKT	New	THE HACKETT GROUP INC	$2,341	–	104,749	–	0.26%	–
AKTS	New	AKOUSTIS TECHNOLOGIES INC	$2,328	–	732,660	–	0.26%	–
PETS	New	PETMED EXPRESS INC	$2,287	–	165,853	–	0.26%	–
CYRX	New	CRYOPORT INC	$2,255	–	130,750	–	0.26%	–
GDOT	New	GREEN DOT CORP	$2,229	–	118,941	–	0.25%	–
SFM	New	SPROUTS FARMERS MARKET INC	$2,127	–	57,896	–	0.24%	–
IMXI	New	INTERNATIONAL MONEY EXPRESS INC	$2,061	–	84,005	–	0.23%	–
VZ	New	VERIZON COMMUNICATIONS	$1,739	–	46,760	–	0.20%	–
BA	New	BOEING	$1,642	–	7,775	–	0.19%	–
TRUP	New	TRUPANION INC	$1,635	–	83,070	–	0.18%	–
EMR	New	EMERSON ELECTRIC	$1,582	–	17,500	–	0.18%	–
U	New	UNITY SOFTWARE	$1,346	–	31,000	–	0.15%	–
UBER	New	UBER TECHNOLOGIES	$1,331	–	30,825	–	0.15%	–
LOVE	New	LOVESAC CO	$1,329	–	49,306	–	0.15%	–
SONO	New	SONOS INC	$1,191	–	72,930	–	0.14%	–
PNC	New	PNC FINANCIAL SERVICES GROUP	$1,187	–	9,427	–	0.13%	–
TGT	New	TARGET	$1,049	–	7,955	–	0.12%	–
DD	New	DUPONT DE NEMOURS	$995	–	13,934	–	0.11%	–
QCOM	New	QUALCOMM	$1,001	–	8,410	–	0.11%	–
YUM	New	YUM! BRANDS	$887	–	6,400	–	0.10%	–
YUMC	New	YUM CHINA HOLDINGS	$768	–	13,600	–	0.09%	–
IJH	New	ISHARES CORE S&P MID-CAP ETF	$606	–	2,317	–	0.07%	–
EXPE	New	EXPEDIA GROUP	$613	–	5,600	–	0.07%	–
GS	New	GOLDMAN SACHS GROUP	$579	–	1,795	–	0.07%	–
KMB	New	KIMBERLYCLARK	$524	–	3,796	–	0.06%	–
HD	New	HOME DEPOT	$505	–	1,625	–	0.06%	–
GM	New	GENERAL MOTORS	$473	–	12,275	–	0.05%	–
ADP	New	AUTOMATIC DATA PROCESSING	$471	–	2,144	–	0.05%	–
MDY	New	SPDR S&P MIDCAP 400 ETF	$438	–	915	–	0.05%	–
DIS	New	DISNEY WALT	$429	–	4,807	–	0.05%	–
CL	New	COLGATEPALMOLIVE	$398	–	5,160	–	0.04%	–
XOM	New	EXXONMOBIL	$383	–	3,570	–	0.04%	–
HSY	New	HERSHEY	$367	–	1,470	–	0.04%	–
DUK	New	DUKE ENERGY	$363	–	4,042	–	0.04%	–
CSX	New	CSX	$364	–	10,685	–	0.04%	–
GIS	New	GENERAL MILLS	$355	–	4,630	–	0.04%	–
PSA	New	PUBLIC STORAGE	$336	–	1,150	–	0.04%	–
DOW	New	DOW	$330	–	6,190	–	0.04%	–
PFE	New	PFIZER	$330	–	8,993	–	0.04%	–
UNP	New	UNION PACIFIC	$320	–	1,565	–	0.04%	–
LAD	New	LITHIA MOTORS INC CL A	$321	–	1,055	–	0.04%	–
VOO	New	VANGUARD S&P 500 ETF	$304	–	747	–	0.03%	–
BRKB	New	BERKSHIRE HATHAWAY CL B	$300	–	880	–	0.03%	–
EPM	New	EVOLUTION PETROLEUM CORP	$289	–	35,800	–	0.03%	–
FF	New	FUTUREFUEL CORP	$288	–	32,500	–	0.03%	–
MTB	New	M&T BANK CORP	$285	–	2,304	–	0.03%	–
AON	New	AON	$276	–	800	–	0.03%	–
OPRX	New	OPTIMIZERX CORP	$264	–	18,500	–	0.03%	–
SLP	New	SIMULATIONS PLUS INC	$253	–	5,845	–	0.03%	–
PCYG	New	PARK CITY GROUP INC	$244	–	24,217	–	0.03%	–
TACT	New	TRANSACT TECHNOLOGIES INC	$249	–	27,751	–	0.03%	–
WLDN	New	WILLDAN GROUP INC	$243	–	12,672	–	0.03%	–
IJR	New	ISHARES CORE S&P SMALLCAP ETF	$235	–	2,354	–	0.03%	–
EEFT	New	EURONET WORLDWIDE INC	$235	–	2,000	–	0.03%	–
OESX	New	ORION ENERGY SYSTEMS INC	$234	–	143,639	–	0.03%	–
MPX	New	MARINE PRODUCTS CORP	$233	–	13,818	–	0.03%	–
RMD	New	RESMED	$219	–	1,000	–	0.02%	–
CHCT	New	COMMUNITY HEALTHCARE TRUST INC	$218	–	6,600	–	0.02%	–
WMT	New	WAL MART STORES	$220	–	1,400	–	0.02%	–
NWPX	New	NORTHWEST PIPE CO	$224	–	7,400	–	0.02%	–
ZYXI	New	ZYNEX INC	$223	–	23,250	–	0.02%	–
ANIK	New	ANIKA THERAPEUTICS INC	$213	–	8,199	–	0.02%	–
ITI	New	ITERIS INC	$212	–	53,500	–	0.02%	–
QRHC	New	QUEST RESOURCE HOLDING CORP	$212	–	32,500	–	0.02%	–
PAHC	New	PHIBRO ANIMAL HEALTH CORP	$207	–	15,101	–	0.02%	–
IRMD	New	IRADIMED CORP	$207	–	4,345	–	0.02%	–
BOOM	New	DMC GLOBAL INC	$190	–	10,700	–	0.02%	–
EGRX	New	EAGLE PHARMACEUTICALS INC	$196	–	10,066	–	0.02%	–
UMH	New	UMH PROPERTIES INC	$197	–	12,300	–	0.02%	–
KMI	New	KINDER MORGAN	$178	–	10,357	–	0.02%	–
PAYS	New	PAYSIGN INC	$179	–	72,980	–	0.02%	–
EVC	New	ENTRAVISION COMMUNICATIONS CORP	$176	–	40,000	–	0.02%	–
QIPT	New	QUIPT HOME MEDICAL CORP	$167	–	31,208	–	0.02%	–
INBK	New	FIRST INTERNET BANCORP	$156	–	10,534	–	0.02%	–
GWRS	New	GLOBAL WATER RESOURCES CORP	$132	–	10,404	–	0.02%	–
PWFL	New	POWERFLEET INC	$123	–	41,000	–	0.01%	–
FRST	New	PRIMIS FINANCIAL CORP	$88	–	10,400	–	0.01%	–
MCHT	New	MAUCH CHUNK TRUST FINANCIAL CORP	$83	–	10,395	–	0.01%	–

Q4 2022

			Value		Shares		↓ Weighting
INVO	Exit	INVO BIOSCIENCE INC	$0	–	-49,000	–	-0.01%	–
MCHT	Exit	MAUCH CHUNK TRUST FINANCIAL CORP	$0	–	-10,395	–	-0.01%	–
PWFL	Exit	POWERFLEET INC	$0	–	-41,000	–	-0.02%	–
FRST	Exit	PRIMIS FINANCIAL CORP	$0	–	-11,000	–	-0.02%	–
PAHC	Exit	PHIBRO ANIMAL HEALTH CORP	$0	–	-10,001	–	-0.02%	–
EVC	Exit	ENTRAVISION COMMUNICATIONS CORP	$0	–	-37,000	–	-0.02%	–
	Exit	BERKSHIRE GREY INC	$0	–	-90,000	–	-0.02%	–
GWRS	Exit	GLOBAL WATER RESOURCES CORP	$0	–	-12,987	–	-0.02%	–
UMH	Exit	UMH PROPERTIES INC	$0	–	-10,000	–	-0.02%	–
OPRX	Exit	OPTIMIZERX CORP	$0	–	-11,000	–	-0.02%	–
MPX	Exit	MARINE PRODUCTS CORP	$0	–	-19,100	–	-0.02%	–
T	Exit	A T & T NEW	$0	–	-10,836	–	-0.02%	–
OESX	Exit	ORION ENERGY SYSTEMS INC	$0	–	-106,639	–	-0.02%	–
KMI	Exit	KINDER MORGAN	$0	–	-10,357	–	-0.02%	–
TACT	Exit	TRANSACT TECHNOLOGIES INC	$0	–	-48,487	–	-0.02%	–
ITI	Exit	ITERIS INC	$0	–	-64,915	–	-0.02%	–
FF	Exit	FUTUREFUEL CORP	$0	–	-34,000	–	-0.03%	–
IJR	Exit	ISHARES CORE S&P SMALLCAP ETF	$0	–	-2,354	–	-0.03%	–
NWPX	Exit	NORTHWEST PIPE CO	$0	–	-7,400	–	-0.03%	–
PETS	Exit	PETMED EXPRESS INC	$0	–	-10,500	–	-0.03%	–
RMD	Exit	RESMED	$0	–	-1,000	–	-0.03%	–
LAD	Exit	LITHIA MOTORS INC CL A	$0	–	-1,055	–	-0.03%	–
PCYG	Exit	PARK CITY GROUP INC	$0	–	-44,490	–	-0.03%	–
PAYS	Exit	PAYSIGN INC	$0	–	-99,300	–	-0.03%	–
EPM	Exit	EVOLUTION PETROLEUM CORP	$0	–	-33,800	–	-0.03%	–
CHUY	Exit	CHUYS HOLDINGS INC	$0	–	-10,600	–	-0.03%	–
BRKB	Exit	BERKSHIRE HATHAWAY CL B	$0	–	-930	–	-0.03%	–
IRMD	Exit	IRADIMED CORP	$0	–	-8,200	–	-0.03%	–
PYPL	Exit	PAYPAL HOLDINGS	$0	–	-3,060	–	-0.03%	–
AON	Exit	AON	$0	–	-1,000	–	-0.04%	–
TFC	Exit	TRUIST FINANCIAL	$0	–	-6,220	–	-0.04%	–
IMXI	Exit	INTERNATIONAL MONEY EXPRESS INC	$0	–	-11,985	–	-0.04%	–
CSX	Exit	CSX	$0	–	-10,885	–	-0.04%	–
QRHC	Exit	QUEST RESOURCE HOLDING CORP	$0	–	-34,500	–	-0.04%	–
XOM	Exit	EXXONMOBIL	$0	–	-3,462	–	-0.04%	–
UNP	Exit	UNION PACIFIC	$0	–	-1,565	–	-0.04%	–
ZYXI	Exit	ZYNEX INC	$0	–	-35,062	–	-0.04%	–
HSY	Exit	HERSHEY	$0	–	-1,470	–	-0.04%	–
NVEC	Exit	NVE CORP	$0	–	-7,052	–	-0.04%	–
PSA	Exit	PUBLIC STORAGE	$0	–	-1,225	–	-0.05%	–
GIS	Exit	GENERAL MILLS	$0	–	-4,885	–	-0.05%	–
DUK	Exit	DUKE ENERGY	$0	–	-4,130	–	-0.05%	–
MTB	Exit	M&T BANK CORP	$0	–	-2,304	–	-0.05%	–
CL	Exit	COLGATEPALMOLIVE	$0	–	-5,760	–	-0.05%	–
FB	Exit	META PLATFORMS	$0	–	-3,072	–	-0.06%	–
KMB	Exit	KIMBERLYCLARK	$0	–	-4,246	–	-0.06%	–
ADP	Exit	AUTOMATIC DATA PROCESSING	$0	–	-2,165	–	-0.06%	–
HD	Exit	HOME DEPOT	$0	–	-1,793	–	-0.06%	–
EXPE	Exit	EXPEDIA GROUP	$0	–	-6,600	–	-0.08%	–
YUMC	Exit	YUM CHINA HOLDINGS	$0	–	-13,600	–	-0.08%	–
YUM	Exit	YUM! BRANDS	$0	–	-6,400	–	-0.09%	–
GM	Exit	GENERAL MOTORS	$0	–	-24,565	–	-0.10%	–
UBER	Exit	UBER TECHNOLOGIES	$0	–	-32,825	–	-0.11%	–
PFE	Exit	PFIZER	$0	–	-21,673	–	-0.12%	–
BA	Exit	BOEING	$0	–	-7,860	–	-0.12%	–
U	Exit	UNITY SOFTWARE	$0	–	-31,000	–	-0.13%	–
JPM	Exit	JPMORGAN CHASE	$0	–	-9,660	–	-0.13%	–
ZTS	Exit	ZOETIS	$0	–	-7,000	–	-0.14%	–
EMR	Exit	EMERSON ELECTRIC	$0	–	-19,000	–	-0.18%	–
LOVE	Exit	LOVESAC CO	$0	–	-79,549	–	-0.21%	–
TRUP	Exit	TRUPANION INC	$0	–	-28,056	–	-0.22%	–
CRY	Exit	ARTIVION INC	$0	–	-124,942	–	-0.23%	–
AKTS	Exit	AKOUSTIS TECHNOLOGIES INC	$0	–	-582,318	–	-0.23%	–
HCKT	Exit	THE HACKETT GROUP INC	$0	–	-104,323	–	-0.24%	–
DFS	Exit	DISCOVER FINANCIAL SERVICES	$0	–	-20,319	–	-0.24%	–
XSOE	Exit	WISDOMTREE EMERGING MARKETS	$0	–	-75,552	–	-0.24%	–
LPSN	Exit	LIVEPERSON INC	$0	–	-203,454	–	-0.25%	–
SONO	Exit	SONOS INC	$0	–	-138,619	–	-0.25%	–
SSTK	Exit	SHUTTERSTOCK INC	$0	–	-41,793	–	-0.27%	–
GMRE	Exit	GLOBAL MEDICAL REIT INC	$0	–	-254,878	–	-0.28%	–
GDOT	Exit	GREEN DOT CORP	$0	–	-119,289	–	-0.30%	–
LMT	Exit	LOCKHEED MARTIN	$0	–	-5,868	–	-0.30%	–
DEA	Exit	EASTERLY GOVERNMENT PROPERTIES INC	$0	–	-146,191	–	-0.30%	–
THRM	Exit	GENTHERM INC	$0	–	-48,814	–	-0.32%	–
NVDA	Exit	NVIDIA	$0	–	-20,479	–	-0.32%	–
CVGW	Exit	CALAVO GROWERS INC	$0	–	-78,782	–	-0.33%	–
AVAV	Exit	AEROVIRONMENT INC	$0	–	-29,972	–	-0.33%	–
TLS	Exit	TELOS CORP	$0	–	-290,965	–	-0.34%	–
PDCE	Exit	PDC ENERGY INC	$0	–	-44,823	–	-0.34%	–
CYRX	Exit	CRYOPORT INC	$0	–	-106,644	–	-0.34%	–
OMCL	Exit	OMNICELL INC	$0	–	-29,882	–	-0.34%	–
CLNE	Exit	CLEAN ENERGY FUELS CORP	$0	–	-492,639	–	-0.34%	–
IOSP	Exit	INNOSPEC INC	$0	–	-31,394	–	-0.35%	–
VSS	Exit	VANGUARD FTSE ALLWORLD EXUS SMALLCAP ETF	$0	–	-29,729	–	-0.36%	–
IMAX	Exit	IMAX CORP	$0	–	-199,038	–	-0.37%	–
DWM	Exit	WISDOMTREE DEFA INDEX	$0	–	-70,175	–	-0.37%	–
CYBR	Exit	CYBERARK SOFTWARE LTD	$0	–	-20,026	–	-0.39%	–
LOW	Exit	LOWES	$0	–	-16,039	–	-0.39%	–
AMN	Exit	AMN HEALTHCARE SERVICES INC	$0	–	-28,908	–	-0.40%	–
APOG	Exit	APOGEE ENTERPRISES INC	$0	–	-80,779	–	-0.40%	–
HCSG	Exit	HEALTHCARE SERVICES GROUP INC	$0	–	-263,653	–	-0.42%	–
SFNC	Exit	SIMMONS FIRST NATIONAL CORP	$0	–	-146,271	–	-0.42%	–
CPSI	Exit	COMPUTER PROGRAMS & SYSTEMS INC	$0	–	-120,495	–	-0.44%	–
CMBM	Exit	CAMBIUM NETWORKS CORP	$0	–	-210,609	–	-0.47%	–
CFLT	Exit	CONFLUENT	$0	–	-151,000	–	-0.47%	–
AX	Exit	AXOS FINANCIAL INC	$0	–	-107,110	–	-0.48%	–
HSTM	Exit	HEALTHSTREAM INC	$0	–	-173,391	–	-0.48%	–
AMRC	Exit	AMERESCO INC	$0	–	-55,780	–	-0.48%	–
EFA	Exit	ISHARES MSCI EAFE INDEX	$0	–	-67,039	–	-0.49%	–
INBK	Exit	FIRST INTERNET BANCORP	$0	–	-112,809	–	-0.50%	–
RBLX	Exit	ROBLOX	$0	–	-118,000	–	-0.55%	–
NVEE	Exit	NV5 GLOBAL INC	$0	–	-35,976	–	-0.58%	–
MS	Exit	MORGAN STANLEY	$0	–	-73,381	–	-0.76%	–
COP	Exit	CONOCOPHILLIPS	$0	–	-58,772	–	-0.79%	–
VWO	Exit	VANGUARD FTSE EMERGING MARKETS ETF	$0	–	-179,438	–	-0.86%	–
DE	Exit	DEERE	$0	–	-21,308	–	-0.93%	–
KO	Exit	COCACOLA	$0	–	-130,293	–	-0.96%	–
ADBE	Exit	ADOBE	$0	–	-26,898	–	-0.97%	–
DASH	Exit	DOORDASH	$0	–	-166,538	–	-1.08%	–
DIS	Exit	DISNEY WALT	$0	–	-90,215	–	-1.11%	–
SLB	Exit	SCHLUMBERGER	$0	–	-238,090	–	-1.12%	–
DD	Exit	DUPONT DE NEMOURS	$0	–	-172,509	–	-1.14%	–
AMZN	Exit	AMAZONCOM	$0	–	-78,045	–	-1.15%	–
PNC	Exit	PNC FINANCIAL SERVICES GROUP	$0	–	-59,463	–	-1.16%	–
PLTR	Exit	PALANTIR TECHNOLOGIES	$0	–	-1,106,603	–	-1.18%	–
ADI	Exit	ANALOG DEVICES	$0	–	-64,545	–	-1.18%	–
NEE	Exit	NEXTERA ENERGY RESOURCES	$0	–	-127,115	–	-1.30%	–
O	Exit	REALTY INCOME	$0	–	-172,725	–	-1.32%	–
HON	Exit	HONEYWELL INTERNATIONAL	$0	–	-63,414	–	-1.38%	–
V	Exit	VISA	$0	–	-60,357	–	-1.40%	–
CSCO	Exit	CISCO SYSTEMS	$0	–	-270,596	–	-1.42%	–
WFC	Exit	WELLS FARGO	$0	–	-271,354	–	-1.43%	–
PANW	Exit	PALO ALTO NETWORKS	$0	–	-66,740	–	-1.43%	–
CVX	Exit	CHEVRON	$0	–	-77,180	–	-1.45%	–
GS	Exit	GOLDMAN SACHS GROUP	$0	–	-38,027	–	-1.46%	–
ETN	Exit	EATON	$0	–	-85,476	–	-1.49%	–
SYK	Exit	STRYKER	$0	–	-57,056	–	-1.51%	–
AXP	Exit	AMERICAN EXPRESS	$0	–	-85,633	–	-1.51%	–
QCOM	Exit	QUALCOMM	$0	–	-103,450	–	-1.53%	–
TJX	Exit	TJX COMPANIES	$0	–	-195,431	–	-1.59%	–
TGT	Exit	TARGET	$0	–	-82,092	–	-1.59%	–
MCD	Exit	MCDONALDS	$0	–	-54,188	–	-1.64%	–
VZ	Exit	VERIZON COMMUNICATIONS	$0	–	-330,094	–	-1.64%	–
PG	Exit	PROCTER & GAMBLE	$0	–	-102,905	–	-1.70%	–
CB	Exit	CHUBB	$0	–	-71,702	–	-1.71%	–
UNH	Exit	UNITEDHEALTH	$0	–	-25,884	–	-1.71%	–
COST	Exit	COSTCO WHOLESALE	$0	–	-27,997	–	-1.73%	–
LLY	Exit	LILLY ELI	$0	–	-41,031	–	-1.74%	–
LIN	Exit	LINDE PLC	$0	–	-49,516	–	-1.75%	–
MRK	Exit	MERCK	$0	–	-157,104	–	-1.77%	–
ABBV	Exit	ABBVIE	$0	–	-108,614	–	-1.91%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-89,393	–	-1.91%	–
GOOGL	Exit	ALPHABET CLASS A	$0	–	-164,410	–	-2.06%	–
RTX	Exit	RAYTHEON TECHNOLOGIES	$0	–	-198,097	–	-2.12%	–
ABT	Exit	ABBOTT LABORATORIES	$0	–	-175,875	–	-2.23%	–
IWM	Exit	ISHARES RUSSELL 2000 INDEX	$0	–	-112,173	–	-2.42%	–
MSFT	Exit	MICROSOFT	$0	–	-101,040	–	-3.08%	–
AAPL	Exit	APPLE	$0	–	-233,064	–	-4.21%	–
PEP	Exit	PEPSICO	$0	–	-217,083	–	-4.64%	–
SPY	Exit	SPDR S & P 500 INDEX	$0	–	-119,613	–	-5.59%	–

Q3 2022

			Value		Shares		↓ Weighting
SPY	Sell	SPDR S & P 500 INDEX	$42,723,000	-6.0%	119,613	-0.7%	5.59%	-2.2%
PEP	Buy	PEPSICO	$35,441,000	-1.7%	217,083	+0.3%	4.64%	+2.1%
AAPL	Sell	APPLE	$32,209,000	+0.6%	233,064	-0.4%	4.21%	+4.6%
MSFT	Buy	MICROSOFT	$23,532,000	-8.2%	101,040	+1.3%	3.08%	-4.6%
IWM	Sell	ISHARES RUSSELL 2000 INDEX	$18,500,000	-3.7%	112,173	-1.1%	2.42%	+0.2%
ABT	Buy	ABBOTT LABORATORIES	$17,018,000	-9.8%	175,875	+1.3%	2.23%	-6.2%
RTX	Buy	RAYTHEON TECHNOLOGIES	$16,216,000	-13.6%	198,097	+1.5%	2.12%	-10.1%
GOOGL	Buy	ALPHABET CLASS A	$15,726,000	-10.1%	164,410	+1947.2%	2.06%	-6.6%
JNJ	Buy	JOHNSON & JOHNSON	$14,603,000	-3.4%	89,393	+5.0%	1.91%	+0.4%
ABBV	Buy	ABBVIE	$14,577,000	-10.5%	108,614	+2.1%	1.91%	-7.0%
MRK	Buy	MERCK	$13,530,000	-2.3%	157,104	+3.5%	1.77%	+1.5%
LIN	Buy	LINDE PLC	$13,349,000	-4.2%	49,516	+2.2%	1.75%	-0.3%
LLY	Sell	LILLY ELI	$13,267,000	-2.8%	41,031	-2.5%	1.74%	+1.0%
COST	Buy	COSTCO WHOLESALE	$13,222,000	+1.6%	27,997	+3.1%	1.73%	+5.6%
UNH	Buy	UNITEDHEALTH	$13,073,000	+0.3%	25,884	+2.0%	1.71%	+4.2%
CB	New	CHUBB	$13,041,000	–	71,702	–	1.71%	–
PG	Buy	PROCTER & GAMBLE	$12,992,000	-11.0%	102,905	+1.3%	1.70%	-7.5%
VZ	Buy	VERIZON COMMUNICATIONS	$12,534,000	-24.2%	330,094	+1.3%	1.64%	-21.2%
MCD	Sell	MCDONALDS	$12,503,000	-15.7%	54,188	-9.8%	1.64%	-12.3%
TGT	Buy	TARGET	$12,182,000	+48.7%	82,092	+41.5%	1.59%	+54.6%
TJX	Buy	TJX COMPANIES	$12,140,000	+11.9%	195,431	+0.6%	1.59%	+16.3%
QCOM	Buy	QUALCOMM	$11,688,000	-11.0%	103,450	+0.6%	1.53%	-7.5%
SYK	Sell	STRYKER	$11,556,000	+1.8%	57,056	-0.0%	1.51%	+5.8%
AXP	Buy	AMERICAN EXPRESS	$11,553,000	-0.7%	85,633	+2.1%	1.51%	+3.3%
ETN	New	EATON	$11,399,000	–	85,476	–	1.49%	–
GS	Buy	GOLDMAN SACHS GROUP	$11,144,000	-0.2%	38,027	+1.2%	1.46%	+3.8%
CVX	Buy	CHEVRON	$11,088,000	+1.1%	77,180	+1.9%	1.45%	+5.1%
PANW	Buy	PALO ALTO NETWORKS	$10,931,000	+0.6%	66,740	+203.3%	1.43%	+4.5%
WFC	Buy	WELLS FARGO	$10,914,000	+4.9%	271,354	+2.2%	1.43%	+9.1%
CSCO	Buy	CISCO SYSTEMS	$10,824,000	-5.9%	270,596	+0.3%	1.42%	-2.1%
V	Buy	VISA	$10,722,000	-7.4%	60,357	+2.6%	1.40%	-3.8%
HON	Buy	HONEYWELL INTERNATIONAL	$10,588,000	-3.0%	63,414	+1.0%	1.38%	+0.9%
O	Buy	REALTY INCOME	$10,053,000	-12.1%	172,725	+3.0%	1.32%	-8.7%
NEE	Buy	NEXTERA ENERGY RESOURCES	$9,967,000	+5.2%	127,115	+3.9%	1.30%	+9.3%
PLTR	Buy	PALANTIR TECHNOLOGIES	$8,997,000	+9.5%	1,106,603	+22.2%	1.18%	+13.8%
ADI	Buy	ANALOG DEVICES	$8,994,000	+341.5%	64,545	+362.9%	1.18%	+359.8%
PNC	Sell	PNC FINANCIAL SERVICES GROUP	$8,885,000	-6.1%	59,463	-0.8%	1.16%	-2.4%
AMZN	Buy	AMAZONCOM	$8,819,000	+199.5%	78,045	+181.4%	1.15%	+211.1%
DD	Buy	DUPONT DE NEMOURS	$8,694,000	-8.8%	172,509	+0.6%	1.14%	-5.1%
SLB	Buy	SCHLUMBERGER	$8,547,000	+19.1%	238,090	+18.6%	1.12%	+23.7%
DIS	Buy	DISNEY WALT	$8,510,000	+1.2%	90,215	+1.3%	1.11%	+5.2%
ADBE	Buy	ADOBE	$7,402,000	-23.8%	26,898	+1.4%	0.97%	-20.8%
KO	Buy	COCACOLA	$7,299,000	+2707.3%	130,293	+3053.3%	0.96%	+2793.9%
DE	New	DEERE	$7,115,000	–	21,308	–	0.93%	–
VWO	Sell	VANGUARD FTSE EMERGING MARKETS ETF	$6,548,000	-13.3%	179,438	-1.1%	0.86%	-9.9%
COP	Buy	CONOCOPHILLIPS	$6,015,000	+14.3%	58,772	+0.3%	0.79%	+18.9%
MS	Buy	MORGAN STANLEY	$5,798,000	+4.3%	73,381	+0.4%	0.76%	+8.4%
NVEE	Sell	NV5 GLOBAL INC	$4,455,000	+5.9%	35,976	-0.2%	0.58%	+10.0%
RBLX	Sell	ROBLOX	$4,229,000	+8.2%	118,000	-0.8%	0.55%	+12.4%
INBK	Sell	FIRST INTERNET BANCORP	$3,820,000	-8.1%	112,809	-0.1%	0.50%	-4.4%
EFA	Sell	ISHARES MSCI EAFE INDEX	$3,755,000	-10.8%	67,039	-0.5%	0.49%	-7.4%
AMRC	Sell	AMERESCO INC	$3,708,000	+45.6%	55,780	-0.2%	0.48%	+51.6%
HSTM	Sell	HEALTHSTREAM INC	$3,686,000	-2.2%	173,391	-0.1%	0.48%	+1.7%
AX	Sell	AXOS FINANCIAL INC	$3,666,000	-5.5%	107,110	-1.0%	0.48%	-1.6%
CMBM	Sell	CAMBIUM NETWORKS CORP	$3,564,000	+14.7%	210,609	-0.7%	0.47%	+19.2%
CPSI	Sell	COMPUTER PROGRAMS & SYSTEMS INC	$3,359,000	-12.9%	120,495	-0.1%	0.44%	-9.7%
HCSG	Buy	HEALTHCARE SERVICES GROUP INC	$3,188,000	+3.7%	263,653	+49.3%	0.42%	+7.8%
SFNC	Buy	SIMMONS FIRST NATIONAL CORP	$3,187,000	+2.5%	146,271	+0.0%	0.42%	+6.6%
APOG	Sell	APOGEE ENTERPRISES INC	$3,087,000	-2.6%	80,779	-0.0%	0.40%	+1.3%
AMN	Sell	AMN HEALTHCARE SERVICES INC	$3,063,000	-3.4%	28,908	-0.0%	0.40%	+0.5%
CYBR	Buy	CYBERARK SOFTWARE LTD	$3,003,000	+17.2%	20,026	+0.0%	0.39%	+22.0%
DWM	Sell	WISDOMTREE DEFA INDEX	$2,818,000	-12.3%	70,175	-0.8%	0.37%	-8.9%
IMAX	Sell	IMAX CORP	$2,810,000	-16.5%	199,038	-0.1%	0.37%	-13.2%
VSS	Sell	VANGUARD FTSE ALLWORLD EXUS SMALLCAP ETF	$2,759,000	-10.6%	29,729	-0.6%	0.36%	-7.2%
IOSP	Sell	INNOSPEC INC	$2,690,000	-10.6%	31,394	-0.0%	0.35%	-7.1%
CLNE	Sell	CLEAN ENERGY FUELS CORP	$2,631,000	+19.0%	492,639	-0.1%	0.34%	+23.7%
CYRX	Sell	CRYOPORT INC	$2,598,000	-36.0%	106,644	-18.6%	0.34%	-33.5%
OMCL	Sell	OMNICELL INC	$2,601,000	-23.5%	29,882	-0.0%	0.34%	-20.6%
PDCE	Sell	PDC ENERGY INC	$2,590,000	-6.3%	44,823	-0.1%	0.34%	-2.6%
TLS	Sell	TELOS CORP	$2,587,000	+9.4%	290,965	-0.5%	0.34%	+13.4%
CVGW	Buy	CALAVO GROWERS INC	$2,501,000	+17.6%	78,782	+54.5%	0.33%	+22.0%
AVAV	Buy	AEROVIRONMENT INC	$2,498,000	+1.5%	29,972	+0.1%	0.33%	+5.5%
NVDA	Sell	NVIDIA	$2,486,000	-20.2%	20,479	-0.4%	0.32%	-17.1%
THRM	Sell	GENTHERM INC	$2,428,000	-20.4%	48,814	-0.1%	0.32%	-17.2%
DEA	Sell	EASTERLY GOVERNMENT PROPERTIES INC	$2,305,000	-17.2%	146,191	-0.1%	0.30%	-14.0%
LMT	Buy	LOCKHEED MARTIN	$2,267,000	-0.6%	5,868	+10.6%	0.30%	+3.5%
GDOT	Buy	GREEN DOT CORP	$2,264,000	+2.1%	119,289	+35.1%	0.30%	+6.1%
GMRE	Buy	GLOBAL MEDICAL REIT INC	$2,172,000	+3.8%	254,878	+36.7%	0.28%	+8.0%
SSTK	New	SHUTTERSTOCK INC	$2,097,000	–	41,793	–	0.27%	–
SONO	Sell	SONOS INC	$1,927,000	-23.0%	138,619	-0.1%	0.25%	-20.0%
LPSN	Buy	LIVEPERSON INC	$1,917,000	-32.2%	203,454	+1.8%	0.25%	-29.5%
XSOE	Sell	WISDOMTREE EMERGING MARKETS	$1,860,000	-22.9%	75,552	-10.2%	0.24%	-20.1%
HCKT	New	THE HACKETT GROUP INC	$1,849,000	–	104,323	–	0.24%	–
CRY	Sell	ARTIVION INC	$1,729,000	-26.9%	124,942	-0.3%	0.23%	-24.2%
AKTS	Sell	AKOUSTIS TECHNOLOGIES INC	$1,729,000	-20.4%	582,318	-0.7%	0.23%	-17.2%
TRUP	Sell	TRUPANION INC	$1,667,000	-1.5%	28,056	-0.1%	0.22%	+2.3%
LOVE	Buy	LOVESAC CO	$1,621,000	-25.9%	79,549	+0.0%	0.21%	-22.9%
EMR	Sell	EMERSON ELECTRIC	$1,391,000	-89.1%	19,000	-88.2%	0.18%	-88.7%
ZTS	Sell	ZOETIS	$1,038,000	-55.5%	7,000	-48.5%	0.14%	-53.7%
PFE	Sell	PFIZER	$948,000	-18.1%	21,673	-1.9%	0.12%	-15.1%
UBER	Sell	UBER TECHNOLOGIES	$870,000	+24.8%	32,825	-3.7%	0.11%	+29.5%
EXPE	Sell	EXPEDIA GROUP	$618,000	-1.7%	6,600	-0.5%	0.08%	+2.5%
HD	Sell	HOME DEPOT	$495,000	-1.8%	1,793	-2.3%	0.06%	+3.2%
KMB	New	KIMBERLYCLARK	$478,000	–	4,246	–	0.06%	–
MTB	Sell	M&T BANK CORP	$406,000	+1.8%	2,304	-8.0%	0.05%	+6.0%
DUK	Sell	DUKE ENERGY	$384,000	-13.5%	4,130	-0.4%	0.05%	-10.7%
GIS	Sell	GENERAL MILLS	$374,000	-25.8%	4,885	-26.9%	0.05%	-22.2%
ZYXI	Buy	ZYNEX INC	$318,000	+26.2%	35,062	+11.1%	0.04%	+31.2%
XOM	Buy	EXXONMOBIL	$302,000	+4.1%	3,462	+2.2%	0.04%	+8.1%
UNP	Buy	UNION PACIFIC	$305,000	+10.5%	1,565	+21.1%	0.04%	+14.3%
QRHC	Sell	QUEST RESOURCE HOLDING CORP	$291,000	+96.6%	34,500	-4.5%	0.04%	+100.0%
IMXI	Sell	INTERNATIONAL MONEY EXPRESS INC	$273,000	-9.3%	11,985	-18.4%	0.04%	-5.3%
AON	New	AON	$268,000	–	1,000	–	0.04%	–
BRKB	New	BERKSHIRE HATHAWAY CL B	$248,000	–	930	–	0.03%	–
EPM	Sell	EVOLUTION PETROLEUM CORP	$235,000	-15.2%	33,800	-33.5%	0.03%	-11.4%
KMI	New	KINDER MORGAN	$172,000	–	10,357	–	0.02%	–
TACT	Buy	TRANSACT TECHNOLOGIES INC	$177,000	+5.4%	48,487	+16.3%	0.02%	+9.5%
OESX	Buy	ORION ENERGY SYSTEMS INC	$166,000	-7.8%	106,639	+19.0%	0.02%	-4.3%
OPRX	New	OPTIMIZERX CORP	$163,000	–	11,000	–	0.02%	–
	Buy	BERKSHIRE GREY INC	$153,000	+70.0%	90,000	+45.2%	0.02%	+81.8%
ET	Exit	ENERGY TRANSFER LP	$0	–	-2,173	–	-0.00%	–
DRTT	Exit	DIRTT ENVIRONMENTAL SOLUTIONS LTD	$0	–	-60,000	–	-0.01%	–
SMED	Exit	SHARPS COMPLIANCE CORP	$0	–	-28,134	–	-0.01%	–
CTEK	Exit	CYNERGISTEK INC	$0	–	-69,624	–	-0.01%	–
IIIV	Exit	I3 VERTICALS INC	$0	–	-8,071	–	-0.02%	–
EEFT	Exit	EURONET WORLDWIDE INC	$0	–	-2,000	–	-0.02%	–
WLDN	Exit	WILLDAN GROUP INC	$0	–	-7,446	–	-0.03%	–
CPRX	Exit	CATALYST PHARMACEUTICALS INC	$0	–	-30,538	–	-0.03%	–
BAX	Exit	BAXTER INTERNATIONAL	$0	–	-3,422	–	-0.03%	–
BRKB	Exit	BERKSHIRE HATHAWAY CL B	$0	–	-930	–	-0.03%	–
EGRX	Exit	EAGLE PHARMACEUTICALS INC	$0	–	-6,066	–	-0.03%	–
AON	Exit	AON	$0	–	-1,000	–	-0.03%	–
IGSB	Exit	ISHARES 1 5 YEAR INVT GRADE CORP BOND ETF	$0	–	-8,472	–	-0.05%	–
IRBT	Exit	IROBOT CORP	$0	–	-47,434	–	-0.22%	–
CAMP	Exit	CALAMP CORP	$0	–	-463,848	–	-0.24%	–
TREE	Exit	LENDINGTREE INC	$0	–	-49,608	–	-0.27%	–
MGRC	Exit	MCGRATH RENTCORP	$0	–	-29,827	–	-0.28%	–
AGCO	Exit	AGCO	$0	–	-62,787	–	-0.78%	–
ETN	Exit	EATON	$0	–	-83,398	–	-1.32%	–
CB	Exit	CHUBB	$0	–	-69,742	–	-1.73%	–

Q2 2022

			Value		Shares		↓ Weighting
SPY	New	SPDR S & P 500 INDEX	$45,426,000	–	120,413	–	5.72%	–
PEP	New	PEPSICO	$36,066,000	–	216,405	–	4.54%	–
AAPL	New	APPLE	$32,002,000	–	234,070	–	4.03%	–
MSFT	New	MICROSOFT	$25,629,000	–	99,790	–	3.23%	–
IWM	New	ISHARES RUSSELL 2000 INDEX	$19,201,000	–	113,373	–	2.42%	–
ABT	New	ABBOTT LABORATORIES	$18,871,000	–	173,688	–	2.38%	–
RTX	New	RAYTHEON TECHNOLOGIES	$18,760,000	–	195,192	–	2.36%	–
GOOGL	New	ALPHABET CLASS A	$17,502,000	–	8,031	–	2.20%	–
VZ	New	VERIZON COMMUNICATIONS	$16,540,000	–	325,919	–	2.08%	–
ABBV	New	ABBVIE	$16,288,000	–	106,349	–	2.05%	–
JNJ	New	JOHNSON & JOHNSON	$15,115,000	–	85,153	–	1.90%	–
MCD	New	MCDONALDS	$14,823,000	–	60,043	–	1.87%	–
PG	New	PROCTER & GAMBLE	$14,600,000	–	101,535	–	1.84%	–
LIN	New	LINDE PLC	$13,928,000	–	48,441	–	1.75%	–
MRK	New	MERCK	$13,845,000	–	151,857	–	1.74%	–
CB	New	CHUBB	$13,710,000	–	69,742	–	1.73%	–
LLY	New	LILLY ELI	$13,650,000	–	42,100	–	1.72%	–
QCOM	New	QUALCOMM	$13,132,000	–	102,800	–	1.65%	–
UNH	New	UNITEDHEALTH	$13,034,000	–	25,377	–	1.64%	–
COST	New	COSTCO WHOLESALE	$13,018,000	–	27,162	–	1.64%	–
EMR	New	EMERSON ELECTRIC	$12,777,000	–	160,634	–	1.61%	–
AXP	New	AMERICAN EXPRESS	$11,631,000	–	83,903	–	1.46%	–
V	New	VISA	$11,584,000	–	58,832	–	1.46%	–
CSCO	New	CISCO SYSTEMS	$11,499,000	–	269,671	–	1.45%	–
O	New	REALTY INCOME	$11,443,000	–	167,635	–	1.44%	–
SYK	New	STRYKER	$11,356,000	–	57,084	–	1.43%	–
GS	New	GOLDMAN SACHS GROUP	$11,164,000	–	37,587	–	1.40%	–
CVX	New	CHEVRON	$10,969,000	–	75,760	–	1.38%	–
HON	New	HONEYWELL INTERNATIONAL	$10,910,000	–	62,769	–	1.37%	–
PANW	New	PALO ALTO NETWORKS	$10,870,000	–	22,006	–	1.37%	–
TJX	New	TJX COMPANIES	$10,853,000	–	194,316	–	1.37%	–
DASH	New	DOORDASH	$10,687,000	–	166,538	–	1.34%	–
ETN	New	EATON	$10,507,000	–	83,398	–	1.32%	–
WFC	New	WELLS FARGO	$10,401,000	–	265,529	–	1.31%	–
ADBE	New	ADOBE	$9,708,000	–	26,521	–	1.22%	–
DD	New	DUPONT DE NEMOURS	$9,528,000	–	171,424	–	1.20%	–
NEE	New	NEXTERA ENERGY RESOURCES	$9,476,000	–	122,330	–	1.19%	–
PNC	New	PNC FINANCIAL SERVICES GROUP	$9,458,000	–	59,948	–	1.19%	–
DIS	New	DISNEY WALT	$8,407,000	–	89,060	–	1.06%	–
PLTR	New	PALANTIR TECHNOLOGIES	$8,214,000	–	905,603	–	1.03%	–
TGT	New	TARGET	$8,191,000	–	57,996	–	1.03%	–
VWO	New	VANGUARD FTSE EMERGING MARKETS ETF	$7,555,000	–	181,388	–	0.95%	–
SLB	New	SCHLUMBERGER	$7,178,000	–	200,715	–	0.90%	–
AGCO	New	AGCO	$6,197,000	–	62,787	–	0.78%	–
MS	New	MORGAN STANLEY	$5,559,000	–	73,081	–	0.70%	–
COP	New	CONOCOPHILLIPS	$5,263,000	–	58,607	–	0.66%	–
EFA	New	ISHARES MSCI EAFE INDEX	$4,211,000	–	67,384	–	0.53%	–
NVEE	New	NV5 GLOBAL INC	$4,207,000	–	36,034	–	0.53%	–
INBK	New	FIRST INTERNET BANCORP	$4,157,000	–	112,895	–	0.52%	–
CYRX	New	CRYOPORT INC	$4,059,000	–	131,021	–	0.51%	–
RBLX	New	ROBLOX	$3,910,000	–	119,000	–	0.49%	–
AX	New	AXOS FINANCIAL INC	$3,879,000	–	108,194	–	0.49%	–
CPSI	New	COMPUTER PROGRAMS & SYSTEMS INC	$3,857,000	–	120,647	–	0.49%	–
HSTM	New	HEALTHSTREAM INC	$3,769,000	–	173,624	–	0.47%	–
CFLT	New	CONFLUENT	$3,509,000	–	151,000	–	0.44%	–
OMCL	New	OMNICELL INC	$3,400,000	–	29,890	–	0.43%	–
IMAX	New	IMAX CORP	$3,366,000	–	199,293	–	0.42%	–
DWM	New	WISDOMTREE DEFA INDEX	$3,214,000	–	70,730	–	0.40%	–
AMN	New	AMN HEALTHCARE SERVICES INC	$3,172,000	–	28,916	–	0.40%	–
APOG	New	APOGEE ENTERPRISES INC	$3,168,000	–	80,782	–	0.40%	–
NVDA	New	NVIDIA	$3,115,000	–	20,551	–	0.39%	–
SFNC	New	SIMMONS FIRST NATIONAL CORP	$3,109,000	–	146,244	–	0.39%	–
CMBM	New	CAMBIUM NETWORKS CORP	$3,107,000	–	212,112	–	0.39%	–
VSS	New	VANGUARD FTSE ALLWORLD EXUS SMALLCAP ETF	$3,087,000	–	29,914	–	0.39%	–
HCSG	New	HEALTHCARE SERVICES GROUP INC	$3,074,000	–	176,576	–	0.39%	–
THRM	New	GENTHERM INC	$3,049,000	–	48,857	–	0.38%	–
IOSP	New	INNOSPEC INC	$3,008,000	–	31,400	–	0.38%	–
AMZN	New	AMAZONCOM	$2,945,000	–	27,730	–	0.37%	–
LPSN	New	LIVEPERSON INC	$2,826,000	–	199,861	–	0.36%	–
LOW	New	LOWES	$2,802,000	–	16,039	–	0.35%	–
DEA	New	EASTERLY GOVERNMENT PROPERTIES	$2,785,000	–	146,285	–	0.35%	–
PDCE	New	PDC ENERGY INC	$2,764,000	–	44,863	–	0.35%	–
CYBR	New	CYBERARK SOFTWARE LTD	$2,562,000	–	20,025	–	0.32%	–
AMRC	New	AMERESCO INC	$2,546,000	–	55,873	–	0.32%	–
SONO	New	SONOS INC	$2,504,000	–	138,777	–	0.32%	–
AVAV	New	AEROVIRONMENT INC	$2,462,000	–	29,947	–	0.31%	–
XSOE	New	WISDOMTREE EMERGING MARKET EX STATE	$2,414,000	–	84,163	–	0.30%	–
TLS	New	TELOS CORP	$2,364,000	–	292,530	–	0.30%	–
CRY	New	ARTIVION INC	$2,366,000	–	125,301	–	0.30%	–
ZTS	New	ZOETIS	$2,335,000	–	13,587	–	0.29%	–
LMT	New	LOCKHEED MARTIN	$2,281,000	–	5,304	–	0.29%	–
MGRC	New	MCGRATH RENTCORP	$2,267,000	–	29,827	–	0.28%	–
GDOT	New	GREEN DOT CORP	$2,217,000	–	88,275	–	0.28%	–
CLNE	New	CLEAN ENERGY FUELS CORP	$2,210,000	–	493,364	–	0.28%	–
LOVE	New	LOVESAC CO	$2,187,000	–	79,542	–	0.28%	–
TREE	New	LENDINGTREE INC	$2,174,000	–	49,608	–	0.27%	–
AKTS	New	AKOUSTIS TECHNOLOGIES INC	$2,171,000	–	586,686	–	0.27%	–
CVGW	New	CALAVO GROWERS INC	$2,127,000	–	50,980	–	0.27%	–
GMRE	New	GLOBAL MEDICAL REIT INC	$2,093,000	–	186,415	–	0.26%	–
ADI	New	ANALOG DEVICES	$2,037,000	–	13,945	–	0.26%	–
CAMP	New	CALAMP CORP	$1,934,000	–	463,848	–	0.24%	–
DFS	New	DISCOVER FINANCIAL SERVICES	$1,922,000	–	20,319	–	0.24%	–
IRBT	New	IROBOT CORP	$1,743,000	–	47,434	–	0.22%	–
TRUP	New	TRUPANION INC	$1,692,000	–	28,083	–	0.21%	–
PFE	New	PFIZER	$1,158,000	–	22,088	–	0.15%	–
U	New	UNITY SOFTWARE	$1,141,000	–	31,000	–	0.14%	–
JPM	New	JPMORGAN CHASE	$1,088,000	–	9,660	–	0.14%	–
BA	New	BOEING	$1,075,000	–	7,860	–	0.14%	–
GM	New	GENERAL MOTORS	$780,000	–	24,565	–	0.10%	–
YUM	New	YUM! BRANDS	$726,000	–	6,400	–	0.09%	–
UBER	New	UBER TECHNOLOGIES	$697,000	–	34,075	–	0.09%	–
YUMC	New	YUM CHINA HOLDINGS	$660,000	–	13,600	–	0.08%	–
EXPE	New	EXPEDIA GROUP	$629,000	–	6,630	–	0.08%	–
HD	New	HOME DEPOT	$504,000	–	1,836	–	0.06%	–
GIS	New	GENERAL MILLS	$504,000	–	6,685	–	0.06%	–
FB	New	META PLATFORMS	$495,000	–	3,072	–	0.06%	–
CL	New	COLGATEPALMOLIVE	$462,000	–	5,760	–	0.06%	–
ADP	New	AUTOMATIC DATA PROCESSING	$455,000	–	2,165	–	0.06%	–
DUK	New	DUKE ENERGY	$444,000	–	4,145	–	0.06%	–
IGSB	New	ISHARES 1 5 YEAR INVT GRADE CORP BOND ETF	$428,000	–	8,472	–	0.05%	–
MTB	New	M&T BANK CORP	$399,000	–	2,504	–	0.05%	–
PSA	New	PUBLIC STORAGE	$383,000	–	1,225	–	0.05%	–
NVEC	New	NVE CORP	$329,000	–	7,052	–	0.04%	–
CSX	New	CSX	$316,000	–	10,885	–	0.04%	–
HSY	New	HERSEY	$316,000	–	1,470	–	0.04%	–
IMXI	New	INTERNATIONAL MONEY EXPRESS INC	$301,000	–	14,685	–	0.04%	–
LAD	New	LITHIA MOTORS INC	$290,000	–	1,055	–	0.04%	–
TFC	New	TRUIST FINANCIAL	$295,000	–	6,220	–	0.04%	–
XOM	New	EXXONMOBIL	$290,000	–	3,387	–	0.04%	–
EPM	New	EVOLUTION PETROLEUM CORP	$277,000	–	50,815	–	0.04%	–
UNP	New	UNION PACIFIC	$276,000	–	1,292	–	0.04%	–
IRMD	New	IRADIMED CORP	$278,000	–	8,200	–	0.04%	–
AON	New	AON	$270,000	–	1,000	–	0.03%	–
EGRX	New	EAGLE PHARMACEUTICALS INC	$270,000	–	6,066	–	0.03%	–
KO	New	COCACOLA	$260,000	–	4,132	–	0.03%	–
BRKB	New	BERKSHIRE HATHAWAY CL B	$254,000	–	930	–	0.03%	–
ZYXI	New	ZYNEX INC	$252,000	–	31,562	–	0.03%	–
FF	New	FUTUREFUEL CORP	$248,000	–	34,000	–	0.03%	–
T	New	A T & T NEW	$227,000	–	10,836	–	0.03%	–
NWPX	New	NORTHWEST PIPE CO	$222,000	–	7,400	–	0.03%	–
BAX	New	BAXTER INTERNATIONAL	$220,000	–	3,422	–	0.03%	–
CHUY	New	CHUYS HOLDINGS INC	$211,000	–	10,600	–	0.03%	–
IJR	New	ISHARES CORE S&P SMALL CAP	$218,000	–	2,354	–	0.03%	–
PYPL	New	PAYPAL HOLDINGS	$214,000	–	3,060	–	0.03%	–
CPRX	New	CATALYST PHARMACEUTICALS INC	$214,000	–	30,538	–	0.03%	–
WLDN	New	WILLDAN GROUP INC	$205,000	–	7,446	–	0.03%	–
PETS	New	PETMED EXPRESS INC	$209,000	–	10,500	–	0.03%	–
RMD	New	RESMDE	$210,000	–	1,000	–	0.03%	–
IIIV	New	I3 VERTICALS INC	$202,000	–	8,071	–	0.02%	–
EEFT	New	EURONET WORLDWIDE INC	$201,000	–	2,000	–	0.02%	–
PCYG	New	PARK CITY GROUP INC	$196,000	–	44,490	–	0.02%	–
PAHC	New	PHIBRO ANIMAL HEALTH CORP	$191,000	–	10,001	–	0.02%	–
ITI	New	ITERIS INC	$188,000	–	64,915	–	0.02%	–
MPX	New	MARINE PRODUCTS CORP	$182,000	–	19,100	–	0.02%	–
OESX	New	ORION ENERGY SYSTEMS INC	$180,000	–	89,639	–	0.02%	–
GWRS	New	GLOBAL WATER RESOURCES CORP	$172,000	–	12,987	–	0.02%	–
UMH	New	UMH PROPERTIES INC	$177,000	–	10,000	–	0.02%	–
TACT	New	TRANSACT TECHNOLOGIES INC	$168,000	–	41,700	–	0.02%	–
EVC	New	ENTRAVISION COMMUNICATIONS CORP	$169,000	–	37,000	–	0.02%	–
FRST	New	PRIMIS FINANCIAL CORP	$150,000	–	11,000	–	0.02%	–
PAYS	New	PAYSIGN	$151,000	–	99,300	–	0.02%	–
QRHC	New	QUEST RESOURCE HOLDING CORP	$148,000	–	36,136	–	0.02%	–
MCHT	New	MAUCH CHUNK TRUST FINANCIAL CORP	$104,000	–	10,395	–	0.01%	–
CTEK	New	CYNERGISTEK INC	$84,000	–	69,624	–	0.01%	–
	New	BERKSHIRE GREY INC	$90,000	–	62,000	–	0.01%	–
PWFL	New	POWERFLEET INC	$89,000	–	41,000	–	0.01%	–
SMED	New	SHARPS COMPLIANCE CORP	$82,000	–	28,134	–	0.01%	–
DRTT	New	DIRTT ENVIRONMENTAL SOLUTIONS LTD	$65,000	–	60,000	–	0.01%	–
INVO	New	INVO BIOSCIENCE	$31,000	–	49,000	–	0.00%	–
ET	New	ENERGY TRANSFER LP	$22,000	–	2,173	–	0.00%	–

Q4 2021

			Value		Shares		↓ Weighting
INVO	Exit	INVO BIOSCIENCE	$0	–	-38,500	–	-0.01%	–
MCHT	Exit	MAUCH CHUNK TRUST FINANCIAL CORP	$0	–	-10,395	–	-0.01%	–
WTRH	Exit	WAITR HOLDINGS INC	$0	–	-165,000	–	-0.02%	–
DRTT	Exit	DIRTT ENVIRONMENTAL SOLUTIONS LTD	$0	–	-50,000	–	-0.02%	–
FRST	Exit	PRIMIS FINANCIAL CORP	$0	–	-11,000	–	-0.02%	–
EAST	Exit	EASTSIDE DISTILLING INC	$0	–	-62,000	–	-0.02%	–
CTEK	Exit	CYNERGISTEK INC	$0	–	-97,634	–	-0.02%	–
FF	Exit	FUTUREFUEL CORP	$0	–	-25,000	–	-0.02%	–
CNTY	Exit	CENTURY CASINOS INC	$0	–	-14,000	–	-0.02%	–
PAYS	Exit	PAYSIGN	$0	–	-70,300	–	-0.02%	–
LBAI	Exit	LAKELAND BANCORP INC	$0	–	-11,203	–	-0.02%	–
ITI	Exit	ITERIS INC	$0	–	-36,700	–	-0.02%	–
OESX	Exit	ORION ENERGY SYSTEMS INC	$0	–	-53,639	–	-0.02%	–
KO	Exit	COCACOLA	$0	–	-4,132	–	-0.02%	–
DOW	Exit	DOW	$0	–	-3,850	–	-0.02%	–
ZYXI	Exit	ZYNEX INC	$0	–	-19,620	–	-0.02%	–
WLDN	Exit	WILLDAN GROUP INC	$0	–	-6,446	–	-0.02%	–
BEEM	Exit	BEAM GLOBAL INC	$0	–	-8,225	–	-0.02%	–
PLPC	Exit	PREFORMED LINE PRODUCTS CO	$0	–	-3,790	–	-0.03%	–
IJR	Exit	ISHARES CORE S&P SMALL CAP	$0	–	-2,264	–	-0.03%	–
XOM	Exit	EXXONMOBIL	$0	–	-4,387	–	-0.03%	–
EEFT	Exit	EURONET WORLDWIDE INC	$0	–	-2,000	–	-0.03%	–
UEIC	Exit	UNIVERSAL ELECTRONICS INC	$0	–	-5,190	–	-0.03%	–
IMXI	Exit	INTERNATIONAL MONEY EXPRESS INC	$0	–	-15,185	–	-0.03%	–
PWFL	Exit	POWERFLEET INC	$0	–	-37,584	–	-0.03%	–
ANIK	Exit	ANIKA THERAPEUTICS INC	$0	–	-6,199	–	-0.03%	–
RMD	Exit	RESMDE	$0	–	-1,000	–	-0.03%	–
GWRS	Exit	GLOBAL WATER RESOURCES CORP	$0	–	-14,287	–	-0.03%	–
QRHC	Exit	QUEST RESOURCE HOLDING CORP	$0	–	-44,200	–	-0.03%	–
BAX	Exit	BAXTER INTERNATIONAL	$0	–	-3,422	–	-0.03%	–
BRKB	Exit	BERKSHIRE HATHAWAY CL B	$0	–	-1,000	–	-0.03%	–
EVC	Exit	ENTRAVISION COMMUNICATIONS CORP	$0	–	-39,500	–	-0.03%	–
AON	Exit	AON	$0	–	-1,000	–	-0.03%	–
EPM	Exit	EVOLUTION PETROLEUM CORP	$0	–	-50,815	–	-0.03%	–
UMH	Exit	UMH PROPERTIES INC	$0	–	-13,190	–	-0.03%	–
UNP	Exit	UNION PACIFIC	$0	–	-1,575	–	-0.03%	–
CPRX	Exit	CATALYST PHARMACEUTICALS INC	$0	–	-59,538	–	-0.03%	–
LAD	Exit	LITHIA MOTORS INC	$0	–	-1,055	–	-0.04%	–
PCYG	Exit	PARK CITY GROUP INC	$0	–	-61,553	–	-0.04%	–
IRMD	Exit	IRADIMED CORP	$0	–	-10,000	–	-0.04%	–
NVEC	Exit	NVE CORP	$0	–	-5,477	–	-0.04%	–
PSA	Exit	PUBLIC STORAGE	$0	–	-1,225	–	-0.04%	–
DUK	Exit	DUKE ENERGY	$0	–	-3,761	–	-0.04%	–
TFC	Exit	TRUIST FINANCIAL	$0	–	-6,320	–	-0.04%	–
EGRX	Exit	EAGLE PHARMACEUTICALS INC	$0	–	-6,566	–	-0.04%	–
GIS	Exit	GENERAL MILLS	$0	–	-6,770	–	-0.04%	–
CL	Exit	COLGATEPALMOLIVE	$0	–	-5,460	–	-0.04%	–
TACT	Exit	TRANSACT TECHNOLOGIES INC	$0	–	-30,500	–	-0.04%	–
ADP	Exit	AUTOMATIC DATA PROCESSING	$0	–	-2,197	–	-0.05%	–
MDY	Exit	SPDR SP MIDCAP 400	$0	–	-915	–	-0.05%	–
T	Exit	A T & T NEW	$0	–	-16,843	–	-0.05%	–
ASPU	Exit	ASPEN GROUP INC	$0	–	-83,200	–	-0.05%	–
OPER	Exit	CLEARSHARES UTRA SHORT MATURITY	$0	–	-5,000	–	-0.05%	–
KMB	Exit	KIMBERLYCLARK	$0	–	-4,467	–	-0.06%	–
HD	Exit	HOME DEPOT	$0	–	-1,861	–	-0.06%	–
IJH	Exit	ISHARES CORE SP MID CAP	$0	–	-2,406	–	-0.07%	–
YUM	Exit	YUM! BRANDS	$0	–	-6,400	–	-0.08%	–
YUMC	Exit	YUM CHINA HOLDINGS	$0	–	-13,600	–	-0.08%	–
PFE	Exit	PFIZER	$0	–	-23,803	–	-0.11%	–
CSX	Exit	CSX	$0	–	-38,357	–	-0.12%	–
BDX	Exit	BECTON DICKINSON	$0	–	-5,350	–	-0.14%	–
MDT	Exit	MEDTRONIC	$0	–	-10,681	–	-0.14%	–
MTB	Exit	M&T BANK CORP	$0	–	-9,354	–	-0.15%	–
UBER	Exit	UBER TECHNOLOGIES	$0	–	-37,075	–	-0.18%	–
TREE	Exit	LENDINGTREE INC	$0	–	-13,073	–	-0.19%	–
CVGW	Exit	CALAVO GROWERS INC	$0	–	-49,872	–	-0.20%	–
IRBT	Exit	IROBOT CORP	$0	–	-25,073	–	-0.21%	–
CLNE	Exit	CLEAN ENERGY FUELS CORP	$0	–	-244,925	–	-0.21%	–
HCSG	Exit	HEALTHCARE SERVICES GROUP INC	$0	–	-81,187	–	-0.22%	–
TRUP	Exit	TRUPANION INC	$0	–	-27,051	–	-0.22%	–
ULTA	Exit	ULTA BEAUTY	$0	–	-6,116	–	-0.23%	–
DFS	Exit	DISCOVER FINANCIAL SERVICES	$0	–	-20,319	–	-0.26%	–
AVAV	Exit	AEROVIRONMENT INC	$0	–	-28,932	–	-0.26%	–
IOSP	Exit	INNOSPEC INC	$0	–	-30,234	–	-0.27%	–
XSOE	Exit	WISDOMTREE EMERGING MARKET EX STATE	$0	–	-68,925	–	-0.27%	–
ZIXI	Exit	ZIX CORP	$0	–	-365,153	–	-0.27%	–
GMRE	Exit	GLOBAL MEDICAL REIT INC	$0	–	-180,343	–	-0.28%	–
CRY	Exit	CRYOLIFE INC	$0	–	-120,839	–	-0.28%	–
EPAY	Exit	BOTTOMLINE TECHNOLOGIES INC	$0	–	-71,245	–	-0.30%	–
DEA	Exit	EASTERLY GOVERNMENT PROPERTIES	$0	–	-138,815	–	-0.30%	–
APOG	Exit	APOGEE ENTERPRISES INC	$0	–	-77,964	–	-0.31%	–
CYBR	Exit	CYBERARK SOFTWARE LTD	$0	–	-19,303	–	-0.32%	–
FB	Exit	FACEBOOK	$0	–	-9,044	–	-0.32%	–
CAMP	Exit	CALAMP CORP	$0	–	-316,621	–	-0.33%	–
ACN	Exit	ACCENTURE	$0	–	-10,400	–	-0.35%	–
NVEE	Exit	NV5 GLOBAL INC	$0	–	-34,664	–	-0.36%	–
VSS	Exit	VANGUARD FTSE ALLWORLD EXUS SMALLCAP ETF	$0	–	-25,709	–	-0.36%	–
TPIC	Exit	TPI COMPOSITES INC	$0	–	-102,315	–	-0.36%	–
DWM	Exit	WISDOMTREE DEFA INDEX	$0	–	-66,095	–	-0.37%	–
INBK	Exit	FIRST INTERNET BANCORP	$0	–	-113,918	–	-0.38%	–
BA	Exit	BOEING	$0	–	-16,381	–	-0.38%	–
ADI	Exit	ANALOG DEVICES	$0	–	-21,595	–	-0.38%	–
IMAX	Exit	IMAX CORP	$0	–	-192,952	–	-0.39%	–
ZTS	Exit	ZOETIS	$0	–	-18,859	–	-0.39%	–
AKTS	Exit	AKOUSTIS TECHNOLOGIES INC	$0	–	-379,616	–	-0.39%	–
THRM	Exit	GENTHERM INC	$0	–	-47,120	–	-0.40%	–
MGRC	Exit	MCGRATH RENTCORP	$0	–	-53,239	–	-0.40%	–
LPSN	Exit	LIVEPERSON INC	$0	–	-68,059	–	-0.42%	–
CPSI	Exit	COMPUTER PROGRAMS & SYSTEMS INC	$0	–	-115,026	–	-0.43%	–
AMRC	Exit	AMERESCO INC	$0	–	-70,186	–	-0.43%	–
SFNC	Exit	SIMMONS FIRST NATIONAL CORP	$0	–	-141,167	–	-0.44%	–
GDOT	Exit	GREEN DOT CORP	$0	–	-84,549	–	-0.45%	–
SONO	Exit	SONOS INC	$0	–	-132,820	–	-0.46%	–
COP	Exit	CONOCOPHILLIPS	$0	–	-68,394	–	-0.49%	–
NVDA	Exit	NVIDIA	$0	–	-22,876	–	-0.50%	–
HSTM	Exit	HEALTHSTREAM INC	$0	–	-166,503	–	-0.50%	–
LOVE	Exit	LOVESAC CO	$0	–	-78,774	–	-0.55%	–
EFA	Exit	ISHARES MSCI EAFE INDEX	$0	–	-67,086	–	-0.55%	–
AMZN	Exit	AMAZONCOM	$0	–	-1,608	–	-0.56%	–
OMCL	Exit	OMNICELL INC	$0	–	-36,399	–	-0.57%	–
PDCE	Exit	PDC ENERGY INC	$0	–	-118,134	–	-0.59%	–
AMN	Exit	AMN HEALTHCARE SERVICES INC	$0	–	-50,118	–	-0.61%	–
AX	Exit	AXOS FINANCIAL INC	$0	–	-134,474	–	-0.73%	–
UNH	Exit	UNITEDHEALTH	$0	–	-17,979	–	-0.74%	–
TGT	Exit	TARGET	$0	–	-31,160	–	-0.75%	–
MS	Exit	MORGAN STANLEY	$0	–	-73,481	–	-0.76%	–
LLY	Exit	LILLY ELI	$0	–	-31,093	–	-0.76%	–
COST	Exit	COSTCO WHOLESALE	$0	–	-17,501	–	-0.83%	–
VWO	Exit	VANGUARD FTSE EMERGING MARKETS ETF	$0	–	-164,686	–	-0.87%	–
NEE	Exit	NEXTERA ENERGY RESOURCES	$0	–	-113,933	–	-0.95%	–
PANW	Exit	PALO ALTO NETWORKS	$0	–	-19,809	–	-1.00%	–
MCD	Exit	MCDONALDS	$0	–	-40,888	–	-1.04%	–
TXN	Exit	TEXAS INSTRUMENTS	$0	–	-52,315	–	-1.06%	–
VZ	Exit	VERIZON COMMUNICATIONS	$0	–	-200,316	–	-1.14%	–
V	Exit	VISA	$0	–	-50,221	–	-1.18%	–
ETN	Exit	EATON	$0	–	-75,032	–	-1.18%	–
DD	Exit	DUPONT DE NEMOURS	$0	–	-167,649	–	-1.20%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-70,663	–	-1.21%	–
WFC	Exit	WELLS FARGO	$0	–	-246,086	–	-1.21%	–
MRK	Exit	MERCK	$0	–	-152,037	–	-1.21%	–
GM	Exit	GENERAL MOTORS	$0	–	-221,066	–	-1.23%	–
O	Exit	REALTY INCOME	$0	–	-179,714	–	-1.23%	–
NKE	Exit	NIKE	$0	–	-80,630	–	-1.24%	–
LOW	Exit	LOWES	$0	–	-58,986	–	-1.27%	–
ADBE	Exit	ADOBE	$0	–	-21,656	–	-1.32%	–
CB	Exit	CHUBB	$0	–	-72,652	–	-1.33%	–
QCOM	Exit	QUALCOMM	$0	–	-97,941	–	-1.34%	–
GS	Exit	GOLDMAN SACHS GROUP	$0	–	-34,078	–	-1.36%	–
SBUX	Exit	STARBUCKS	$0	–	-117,516	–	-1.37%	–
ABBV	Exit	ABBVIE	$0	–	-123,371	–	-1.41%	–
PNC	Exit	PNC FINANCIAL SERVICES GROUP	$0	–	-68,741	–	-1.42%	–
CVX	Exit	CHEVRON	$0	–	-133,514	–	-1.43%	–
CSCO	Exit	CISCO SYSTEMS	$0	–	-250,242	–	-1.44%	–
HON	Exit	HONEYWELL INTERNATIONAL	$0	–	-65,171	–	-1.46%	–
LIN	Exit	LINDE PLC	$0	–	-48,046	–	-1.49%	–
TJX	Exit	TJX COMPANIES	$0	–	-214,820	–	-1.50%	–
AXP	Exit	AMERICAN EXPRESS	$0	–	-84,834	–	-1.50%	–
SYK	Exit	STRYKER	$0	–	-55,223	–	-1.54%	–
GOOGL	Exit	ALPHABET CLASS A	$0	–	-5,462	–	-1.54%	–
EMR	Exit	EMERSON ELECTRIC	$0	–	-156,647	–	-1.56%	–
JPM	Exit	JPMORGAN CHASE	$0	–	-91,591	–	-1.59%	–
PYPL	Exit	PAYPAL HOLDINGS	$0	–	-57,957	–	-1.60%	–
PG	Exit	PROCTER & GAMBLE	$0	–	-109,864	–	-1.62%	–
DIS	Exit	DISNEY WALT	$0	–	-94,548	–	-1.69%	–
RTX	Exit	RAYTHEON TECHNOLOGIES	$0	–	-193,763	–	-1.76%	–
ABT	Exit	ABBOTT LABORATORIES	$0	–	-168,708	–	-2.11%	–
PLTR	Exit	PALANTIR TECHNOLOGIES	$0	–	-835,275	–	-2.12%	–
IWM	Exit	ISHARES RUSSELL 2000 INDEX	$0	–	-107,973	–	-2.50%	–
MSFT	Exit	MICROSOFT	$0	–	-98,648	–	-2.94%	–
DASH	Exit	DOORDASH	$0	–	-139,091	–	-3.03%	–
PEP	Exit	PEPSICO	$0	–	-214,481	–	-3.41%	–
AAPL	Exit	APPLE	$0	–	-247,536	–	-3.70%	–
SPY	Exit	SPDR S & P 500 INDEX	$0	–	-122,263	–	-5.55%	–

Q3 2021

			Value		Shares		↓ Weighting
SPY	Sell	SPDR S & P 500 INDEX	$52,468,000	-5.9%	122,263	-6.2%	5.55%	-4.5%
AAPL	Buy	APPLE	$35,026,000	+4.4%	247,536	+1.0%	3.70%	+6.0%
PEP	Sell	PEPSICO	$32,260,000	-6.9%	214,481	-8.3%	3.41%	-5.5%
DASH	Sell	DOORDASH	$28,650,000	+3.3%	139,091	-10.5%	3.03%	+4.9%
MSFT	Sell	MICROSOFT	$27,811,000	-0.9%	98,648	-4.8%	2.94%	+0.7%
IWM	Sell	ISHARES RUSSELL 2000 INDEX	$23,619,000	-9.5%	107,973	-5.1%	2.50%	-8.1%
PLTR	Sell	PALANTIR TECHNOLOGIES	$20,080,000	-29.8%	835,275	-23.0%	2.12%	-28.7%
ABT	Sell	ABBOTT LABORATORIES	$19,929,000	-3.7%	168,708	-5.4%	2.11%	-2.1%
RTX	Buy	RAYTHEON TECHNOLOGIES	$16,656,000	+1.8%	193,763	+1.0%	1.76%	+3.4%
DIS	Buy	DISNEY WALT	$15,995,000	+11.5%	94,548	+15.9%	1.69%	+13.3%
PG	Buy	PROCTER & GAMBLE	$15,359,000	+37.9%	109,864	+33.1%	1.62%	+40.0%
PYPL	Buy	PAYPAL HOLDINGS	$15,081,000	-6.5%	57,957	+4.7%	1.60%	-5.1%
JPM	Buy	JPMORGAN CHASE	$14,993,000	+6.7%	91,591	+1.4%	1.59%	+8.3%
EMR	Buy	EMERSON ELECTRIC	$14,756,000	-0.3%	156,647	+1.8%	1.56%	+1.2%
GOOGL	Sell	ALPHABET CLASS A	$14,603,000	+6.8%	5,462	-2.5%	1.54%	+8.4%
SYK	Buy	STRYKER	$14,563,000	+2.1%	55,223	+0.5%	1.54%	+3.6%
AXP	Buy	AMERICAN EXPRESS	$14,212,000	+22.1%	84,834	+20.4%	1.50%	+23.9%
TJX	Buy	TJX COMPANIES	$14,174,000	-0.9%	214,820	+1.3%	1.50%	+0.7%
LIN	Buy	LINDE PLC	$14,096,000	+3.0%	48,046	+1.5%	1.49%	+4.6%
HON	Sell	HONEYWELL INTERNATIONAL	$13,834,000	-14.1%	65,171	-11.3%	1.46%	-12.8%
CSCO	Buy	CISCO SYSTEMS	$13,621,000	+37.0%	250,242	+33.4%	1.44%	+39.1%
CVX	Buy	CHEVRON	$13,545,000	-1.7%	133,514	+1.5%	1.43%	-0.1%
PNC	Buy	PNC FINANCIAL SERVICES GROUP	$13,448,000	+10.4%	68,741	+7.7%	1.42%	+12.1%
ABBV	Buy	ABBVIE	$13,308,000	+7.9%	123,371	+12.7%	1.41%	+9.6%
SBUX	Buy	STARBUCKS	$12,963,000	-0.3%	117,516	+1.0%	1.37%	+1.2%
GS	Buy	GOLDMAN SACHS GROUP	$12,883,000	+6.3%	34,078	+6.7%	1.36%	+8.0%
QCOM	Buy	QUALCOMM	$12,632,000	-8.4%	97,941	+1.5%	1.34%	-7.0%
CB	Buy	CHUBB	$12,604,000	+10.7%	72,652	+1.4%	1.33%	+12.4%
ADBE	Sell	ADOBE	$12,468,000	-32.9%	21,656	-31.8%	1.32%	-31.8%
LOW	Buy	LOWES	$11,966,000	+5.7%	58,986	+1.1%	1.27%	+7.4%
NKE	Sell	NIKE	$11,710,000	-7.7%	80,630	-1.8%	1.24%	-6.3%
O	Buy	REALTY INCOME	$11,656,000	+3696.7%	179,714	+3804.3%	1.23%	+3753.1%
GM	Buy	GENERAL MOTORS	$11,652,000	-7.5%	221,066	+3.8%	1.23%	-6.1%
WFC	Buy	WELLS FARGO	$11,421,000	+4.2%	246,086	+1.7%	1.21%	+5.9%
MRK	Sell	MERCK	$11,419,000	-11.8%	152,037	-8.7%	1.21%	-10.5%
JNJ	Buy	JOHNSON & JOHNSON	$11,412,000	+0.5%	70,663	+2.5%	1.21%	+2.0%
DD	Buy	DUPONT DE NEMOURS	$11,398,000	-11.0%	167,649	+1.4%	1.20%	-9.6%
ETN	Buy	EATON	$11,203,000	+4.2%	75,032	+3.4%	1.18%	+5.9%
V	Buy	VISA	$11,187,000	-3.3%	50,221	+1.5%	1.18%	-1.8%
VZ	Buy	VERIZON COMMUNICATIONS	$10,819,000	-3.0%	200,316	+0.6%	1.14%	-1.5%
TXN	Buy	TEXAS INSTRUMENTS	$10,055,000	+13.6%	52,315	+13.6%	1.06%	+15.3%
MCD	Buy	MCDONALDS	$9,859,000	+411.4%	40,888	+389.8%	1.04%	+418.9%
PANW	Sell	PALO ALTO NETWORKS	$9,489,000	-21.2%	19,809	-38.9%	1.00%	-19.9%
NEE	Sell	NEXTERA ENERGY RESOURCES	$8,946,000	+1.6%	113,933	-5.2%	0.95%	+3.2%
VWO	Buy	VANGUARD FTSE EMERGING MARKETS ETF	$8,236,000	-6.2%	164,686	+1.9%	0.87%	-4.7%
COST	Sell	COSTCO WHOLESALE	$7,864,000	-28.9%	17,501	-37.4%	0.83%	-27.8%
LLY	Buy	LILLY ELI	$7,184,000	+230.6%	31,093	+228.5%	0.76%	+236.3%
MS	Sell	MORGAN STANLEY	$7,150,000	+3.3%	73,481	-2.6%	0.76%	+4.9%
TGT	Sell	TARGET	$7,128,000	-41.1%	31,160	-37.7%	0.75%	-40.2%
UNH	Buy	UNITEDHEALTH	$7,025,000	-0.9%	17,979	+1.6%	0.74%	+0.7%
AX	Buy	AXOS FINANCIAL INC	$6,931,000	+14.6%	134,474	+3.1%	0.73%	+16.3%
AMN	Buy	AMN HEALTHCARE SERVICES INC	$5,751,000	+22.5%	50,118	+3.5%	0.61%	+24.3%
PDCE	Buy	PDC ENERGY INC	$5,598,000	+7.3%	118,134	+3.7%	0.59%	+9.0%
OMCL	Buy	OMNICELL INC	$5,403,000	+1.4%	36,399	+3.4%	0.57%	+2.9%
AMZN	Buy	AMAZONCOM	$5,282,000	-1.6%	1,608	+3.1%	0.56%	0.0%
EFA	Buy	ISHARES MSCI EAFE INDEX	$5,233,000	+0.1%	67,086	+1.2%	0.55%	+1.7%
LOVE	Buy	LOVESAC CO	$5,206,000	-14.5%	78,774	+3.2%	0.55%	-13.1%
HSTM	Buy	HEALTHSTREAM INC	$4,759,000	+5.9%	166,503	+3.6%	0.50%	+7.5%
NVDA	Buy	NVIDIA	$4,739,000	-4.7%	22,876	+267.9%	0.50%	-3.3%
COP	Buy	CONOCOPHILLIPS	$4,635,000	+17.7%	68,394	+5.8%	0.49%	+19.5%
SONO	Buy	SONOS INC	$4,298,000	-4.4%	132,820	+4.1%	0.46%	-2.8%
GDOT	Buy	GREEN DOT CORP	$4,255,000	+11.6%	84,549	+3.9%	0.45%	+13.4%
SFNC	Buy	SIMMONS FIRST NATIONAL CORP	$4,173,000	+5.4%	141,167	+4.6%	0.44%	+6.8%
AMRC	Sell	AMERESCO INC	$4,101,000	-23.6%	70,186	-17.9%	0.43%	-22.4%
CPSI	Buy	COMPUTER PROGRAMS & SYSTEMS INC	$4,079,000	+11.8%	115,026	+4.8%	0.43%	+13.4%
LPSN	Buy	LIVEPERSON INC	$4,012,000	-4.1%	68,059	+2.9%	0.42%	-2.8%
MGRC	Buy	MCGRATH RENTCORP	$3,831,000	-8.1%	53,239	+4.2%	0.40%	-6.7%
THRM	Buy	GENTHERM INC	$3,813,000	+17.9%	47,120	+3.5%	0.40%	+19.6%
AKTS	Buy	AKOUSTIS TECHNOLOGIES INC	$3,682,000	-2.5%	379,616	+7.7%	0.39%	-1.0%
IMAX	Buy	IMAX CORP	$3,662,000	-8.5%	192,952	+3.6%	0.39%	-7.2%
ZTS	Sell	ZOETIS	$3,661,000	-57.4%	18,859	-59.1%	0.39%	-56.7%
ADI	Buy	ANALOG DEVICES	$3,617,000	-0.8%	21,595	+1.9%	0.38%	+0.8%
BA	Buy	BOEING	$3,603,000	-7.5%	16,381	+0.8%	0.38%	-6.2%
INBK	Buy	FIRST INTERNET BANCORP	$3,552,000	+3.8%	113,918	+3.2%	0.38%	+5.6%
DWM	Buy	WISDOMTREE DEFA INDEX	$3,494,000	-1.5%	66,095	+1.5%	0.37%	0.0%
TPIC	Buy	TPI COMPOSITES INC	$3,453,000	+41.3%	102,315	+102.8%	0.36%	+43.7%
VSS	Buy	VANGUARD FTSE ALLWORLD EXUS SMALLCAP ETF	$3,437,000	-0.4%	25,709	+1.7%	0.36%	+1.4%
NVEE	Buy	NV5 GLOBAL INC	$3,417,000	+8.1%	34,664	+3.7%	0.36%	+9.7%
CAMP	Buy	CALAMP CORP	$3,150,000	-18.3%	316,621	+4.4%	0.33%	-17.2%
FB	Buy	FACEBOOK	$3,069,000	-0.9%	9,044	+1.5%	0.32%	+0.6%
CYBR	Buy	CYBERARK SOFTWARE LTD	$3,046,000	+25.2%	19,303	+3.4%	0.32%	+27.3%
APOG	Buy	APOGEE ENTERPRISES INC	$2,944,000	-3.7%	77,964	+3.9%	0.31%	-2.2%
DEA	Buy	EASTERLY GOVERNMENT PROPERTIES	$2,868,000	+2.4%	138,815	+4.5%	0.30%	+3.8%
EPAY	Buy	BOTTOMLINE TECHNOLOGIES INC	$2,799,000	+10.9%	71,245	+4.6%	0.30%	+12.5%
CRY	Buy	CRYOLIFE INC	$2,694,000	-19.1%	120,839	+3.1%	0.28%	-17.9%
GMRE	New	GLOBAL MEDICAL REIT INC	$2,651,000	–	180,343	–	0.28%	–
ZIXI	Buy	ZIX CORP	$2,582,000	+3.7%	365,153	+3.4%	0.27%	+5.4%
XSOE	Buy	WISDOMTREE EMERGING MARKET EX STATE	$2,572,000	-9.6%	68,925	+2.0%	0.27%	-8.1%
IOSP	Buy	INNOSPEC INC	$2,546,000	-4.0%	30,234	+3.3%	0.27%	-2.5%
AVAV	Buy	AEROVIRONMENT INC	$2,497,000	-10.9%	28,932	+3.3%	0.26%	-9.6%
ULTA	Sell	ULTA BEAUTY	$2,207,000	+0.1%	6,116	-4.1%	0.23%	+1.3%
TRUP	Buy	TRUPANION INC	$2,101,000	-29.8%	27,051	+4.1%	0.22%	-28.8%
HCSG	Buy	HEALTHCARE SERVICES GROUP INC	$2,029,000	-18.9%	81,187	+2.5%	0.22%	-17.3%
CLNE	New	CLEAN ENERGY FUELS CORP	$1,996,000	–	244,925	–	0.21%	–
IRBT	Buy	IROBOT CORP	$1,968,000	-12.9%	25,073	+3.7%	0.21%	-11.5%
CVGW	Buy	CALAVO GROWERS INC	$1,907,000	-35.3%	49,872	+7.4%	0.20%	-34.2%
TREE	Buy	LENDINGTREE INC	$1,828,000	-29.6%	13,073	+6.7%	0.19%	-28.5%
CSX	Sell	CSX	$1,141,000	-28.2%	38,357	-22.6%	0.12%	-27.1%
PFE	Sell	PFIZER	$1,024,000	+6.3%	23,803	-3.2%	0.11%	+8.0%
YUM	Sell	YUM! BRANDS	$783,000	+0.1%	6,400	-5.9%	0.08%	+2.5%
IJH	Buy	ISHARES CORE SP MID CAP	$633,000	+138.0%	2,406	+143.0%	0.07%	+139.3%
HD	Sell	HOME DEPOT	$611,000	+1.0%	1,861	-1.8%	0.06%	+3.2%
KMB	Sell	KIMBERLYCLARK	$592,000	-1.5%	4,467	-0.6%	0.06%	0.0%
ASPU	Buy	ASPEN GROUP INC	$463,000	-0.2%	83,200	+16.9%	0.05%	+2.1%
T	Sell	A T & T NEW	$455,000	-95.9%	16,843	-95.6%	0.05%	-95.8%
MDY	Buy	SPDR SP MIDCAP 400	$440,000	+42.4%	915	+45.2%	0.05%	+46.9%
ADP	Sell	AUTOMATIC DATA PROCESSING	$439,000	-0.5%	2,197	-1.1%	0.05%	0.0%
TACT	Sell	TRANSACT TECHNOLOGIES INC	$424,000	-5.8%	30,500	-6.9%	0.04%	-4.3%
IRMD	Sell	IRADIMED CORP	$336,000	+9.8%	10,000	-3.9%	0.04%	+12.5%
PCYG	Buy	PARK CITY GROUP INC	$335,000	+5.7%	61,553	+7.0%	0.04%	+6.1%
EVC	Sell	ENTRAVISION COMMUNICATIONS CORP	$280,000	-7.0%	39,500	-12.2%	0.03%	-3.2%
BRKB	Sell	BERKSHIRE HATHAWAY CL B	$273,000	-6.5%	1,000	-4.8%	0.03%	-3.3%
QRHC	Sell	QUEST RESOURCE HOLDING CORP	$269,000	-29.6%	44,200	-26.6%	0.03%	-30.0%
IJR	Sell	ISHARES CORE S&P SMALL CAP	$247,000	-8.5%	2,264	-5.4%	0.03%	-7.1%
WLDN	Buy	WILLDAN GROUP INC	$229,000	+0.4%	6,446	+6.6%	0.02%	0.0%
BEEM	Buy	BEAM GLOBAL INC	$225,000	-11.4%	8,225	+24.2%	0.02%	-7.7%
ZYXI	Buy	ZYNEX INC	$223,000	-1.8%	19,620	+34.2%	0.02%	0.0%
OESX	Buy	ORION ENERGY SYSTEMS INC	$209,000	-18.0%	53,639	+20.7%	0.02%	-18.5%
ITI	Buy	ITERIS INC	$194,000	+7.8%	36,700	+35.9%	0.02%	+10.5%
PAYS	Buy	PAYSIGN	$190,000	+2.7%	70,300	+20.6%	0.02%	+5.3%
FF	New	FUTUREFUEL CORP	$178,000	–	25,000	–	0.02%	–
CTEK	Buy	CYNERGISTEK INC	$176,000	-5.4%	97,634	+6.5%	0.02%	0.0%
EAST	Sell	EASTSIDE DISTILLING INC	$161,000	-29.1%	62,000	-23.4%	0.02%	-29.2%
DRTT	Sell	DIRTT ENVIRONMENTAL SOLUTIONS LTD	$155,000	-30.2%	50,000	-3.8%	0.02%	-30.4%
WTRH	Buy	WAITR HOLDINGS INC	$146,000	-25.5%	165,000	+50.0%	0.02%	-25.0%
INVO	Buy	INVO BIOSCIENCE	$126,000	+35.5%	38,500	+92.5%	0.01%	+30.0%
WMT	Exit	WALMART STORES	$0	–	-1,431	–	-0.02%	–
PETS	Exit	PETMED EXPRESS INC	$0	–	-6,500	–	-0.02%	–
IIIV	Exit	I3 VERTICALS INC	$0	–	-7,071	–	-0.02%	–
HCKT	Exit	THE HACKETT GROUP INC	$0	–	-14,082	–	-0.03%	–
BLFS	Exit	BIOLIFE SOLUTIONS	$0	–	-5,911	–	-0.03%	–
MNR	Exit	MONMOUTH REAL ESTATE INVESTMENT CORP	$0	–	-209,694	–	-0.41%	–

Q2 2021

			Value		Shares		↓ Weighting
SPY	New	SPDR S & P 500 INDEX	$55,776,000	–	130,300	–	5.81%	–
PEP	New	PEPSICO	$34,656,000	–	233,895	–	3.61%	–
AAPL	New	APPLE	$33,555,000	–	244,995	–	3.49%	–
PLTR	New	PALANTIR TECHNOLOGIES	$28,608,000	–	1,085,275	–	2.98%	–
MSFT	New	MICROSOFT	$28,061,000	–	103,583	–	2.92%	–
DASH	New	DOORDASH	$27,729,000	–	155,491	–	2.89%	–
IWM	New	ISHARES RUSSELL 2000 INDEX	$26,102,000	–	113,798	–	2.72%	–
ABT	New	ABBOTT LABORATORIES	$20,684,000	–	178,421	–	2.15%	–
ADBE	New	ADOBE	$18,585,000	–	31,735	–	1.94%	–
RTX	New	RAYTHEON TECHNOLOGIES	$16,365,000	–	191,826	–	1.70%	–
PYPL	New	PAYPAL HOLDINGS	$16,130,000	–	55,337	–	1.68%	–
HON	New	HONEYWELL INTERNATIONAL	$16,113,000	–	73,460	–	1.68%	–
EMR	New	EMERSON ELECTRIC	$14,805,000	–	153,836	–	1.54%	–
DIS	New	DISNEY WALT	$14,342,000	–	81,598	–	1.49%	–
TJX	New	TJX COMPANIES	$14,299,000	–	212,089	–	1.49%	–
SYK	New	STRYKER	$14,270,000	–	54,943	–	1.49%	–
JPM	New	JPMORGAN CHASE	$14,053,000	–	90,348	–	1.46%	–
QCOM	New	QUALCOMM	$13,785,000	–	96,447	–	1.44%	–
CVX	New	CHEVRON	$13,777,000	–	131,535	–	1.44%	–
LIN	New	LINDE PLC	$13,689,000	–	47,352	–	1.43%	–
GOOGL	New	ALPHABET CLASS A	$13,674,000	–	5,600	–	1.42%	–
SBUX	New	STARBUCKS	$13,007,000	–	116,330	–	1.36%	–
MRK	New	MERCK	$12,949,000	–	166,499	–	1.35%	–
DD	New	DUPONT DE NEMOURS	$12,802,000	–	165,378	–	1.33%	–
NKE	New	NIKE	$12,682,000	–	82,090	–	1.32%	–
GM	New	GENERAL MOTORS	$12,597,000	–	212,896	–	1.31%	–
ABBV	New	ABBVIE	$12,331,000	–	109,473	–	1.28%	–
PNC	New	PNC FINANCIAL SERVICES GROUP	$12,181,000	–	63,856	–	1.27%	–
GS	New	GOLDMAN SACHS GROUP	$12,120,000	–	31,933	–	1.26%	–
TGT	New	TARGET	$12,098,000	–	50,045	–	1.26%	–
PANW	New	PALO ALTO NETWORKS	$12,035,000	–	32,434	–	1.25%	–
AXP	New	AMERICAN EXPRESS	$11,644,000	–	70,474	–	1.21%	–
V	New	VISA	$11,566,000	–	49,466	–	1.20%	–
CB	New	CHUBB	$11,389,000	–	71,657	–	1.19%	–
JNJ	New	JOHNSON & JOHNSON	$11,357,000	–	68,937	–	1.18%	–
LOW	New	LOWES	$11,318,000	–	58,351	–	1.18%	–
VZ	New	VERIZON COMMUNICATIONS	$11,156,000	–	199,116	–	1.16%	–
PG	New	PROCTER & GAMBLE	$11,136,000	–	82,529	–	1.16%	–
T	New	A T & T NEW	$11,070,000	–	384,649	–	1.15%	–
COST	New	COSTCO WHOLESALE	$11,068,000	–	27,973	–	1.15%	–
WFC	New	WELLS FARGO	$10,961,000	–	242,029	–	1.14%	–
ETN	New	EATON	$10,748,000	–	72,531	–	1.12%	–
CSCO	New	CISCO SYSTEMS	$9,945,000	–	187,642	–	1.04%	–
TXN	New	TEXAS INSTRUMENTS	$8,852,000	–	46,033	–	0.92%	–
NEE	New	NEXTERA ENERGY RESOURCES	$8,809,000	–	120,213	–	0.92%	–
VWO	New	VANGUARD FTSE EMERGING MARKETS ETF	$8,780,000	–	161,656	–	0.91%	–
ZTS	New	ZOETIS	$8,587,000	–	46,079	–	0.89%	–
UNH	New	UNITEDHEALTH	$7,088,000	–	17,700	–	0.74%	–
MS	New	MORGAN STANLEY	$6,921,000	–	75,481	–	0.72%	–
LOVE	New	LOVESAC CO	$6,089,000	–	76,308	–	0.63%	–
AX	New	AXOS FINANCIAL INC	$6,050,000	–	130,414	–	0.63%	–
AMRC	New	AMERESCO INC	$5,365,000	–	85,538	–	0.56%	–
AMZN	New	AMAZONCOM	$5,367,000	–	1,560	–	0.56%	–
OMCL	New	OMNICELL INC	$5,330,000	–	35,192	–	0.56%	–
EFA	New	ISHARES MSCI EAFE INDEX	$5,228,000	–	66,284	–	0.54%	–
PDCE	New	PDC ENERGY INC	$5,216,000	–	113,910	–	0.54%	–
NVDA	New	NVIDIA	$4,975,000	–	6,218	–	0.52%	–
AMN	New	AMN HEALTHCARE SERVICES INC	$4,695,000	–	48,407	–	0.49%	–
SONO	New	SONOS INC	$4,497,000	–	127,646	–	0.47%	–
HSTM	New	HEALTHSTREAM INC	$4,492,000	–	160,758	–	0.47%	–
LPSN	New	LIVEPERSON INC	$4,183,000	–	66,144	–	0.44%	–
MGRC	New	MCGRATH RENTCORP	$4,169,000	–	51,112	–	0.43%	–
IMAX	New	IMAX CORP	$4,004,000	–	186,223	–	0.42%	–
SFNC	New	SIMMONS FIRST NATIONAL CORP	$3,961,000	–	135,019	–	0.41%	–
COP	New	CONOCOPHILLIPS	$3,937,000	–	64,650	–	0.41%	–
MNR	New	MONMOUTH REAL ESTATE INVESTMENT CORP	$3,925,000	–	209,694	–	0.41%	–
BA	New	BOEING	$3,894,000	–	16,256	–	0.41%	–
CAMP	New	CALAMP CORP	$3,856,000	–	303,144	–	0.40%	–
GDOT	New	GREEN DOT CORP	$3,812,000	–	81,360	–	0.40%	–
AKTS	New	AKOUSTIS TECHNOLOGIES INC	$3,776,000	–	352,578	–	0.39%	–
CPSI	New	COMPUTER PROGRAMS & SYSTEMS INC	$3,648,000	–	109,778	–	0.38%	–
ADI	New	ANALOG DEVICES	$3,647,000	–	21,185	–	0.38%	–
DWM	New	WISDOMTREE DEFA INDEX	$3,549,000	–	65,105	–	0.37%	–
VSS	New	VANGUARD FTSE ALLWORLD EXUS SMALLCAP ETF	$3,450,000	–	25,284	–	0.36%	–
INBK	New	FIRST INTERNET BANCORP	$3,421,000	–	110,425	–	0.36%	–
CRY	New	CRYOLIFE INC	$3,328,000	–	117,193	–	0.35%	–
THRM	New	GENTHERM INC	$3,235,000	–	45,525	–	0.34%	–
NVEE	New	NV5 GLOBAL INC	$3,160,000	–	33,431	–	0.33%	–
FB	New	FACEBOOK	$3,097,000	–	8,906	–	0.32%	–
ACN	New	ACCENTURE	$3,066,000	–	10,400	–	0.32%	–
APOG	New	APOGEE ENTERPRISES INC	$3,057,000	–	75,066	–	0.32%	–
TRUP	New	TRUPANION INC	$2,992,000	–	25,993	–	0.31%	–
CVGW	New	CALAVO GROWERS INC	$2,946,000	–	46,448	–	0.31%	–
XSOE	New	WISDOMTREE EMERGING MARKET EX STATE	$2,844,000	–	67,600	–	0.30%	–
AVAV	New	AEROVIRONMENT INC	$2,804,000	–	27,997	–	0.29%	–
DEA	New	EASTERLY GOVERNMENT PROPERTIES	$2,800,000	–	132,830	–	0.29%	–
IOSP	New	INNOSPEC INC	$2,651,000	–	29,262	–	0.28%	–
TREE	New	LENDINGTREE INC	$2,595,000	–	12,247	–	0.27%	–
EPAY	New	BOTTOMLINE TECHNOLOGIES INC	$2,525,000	–	68,106	–	0.26%	–
HCSG	New	HEALTHCARE SERVICES GROUP INC	$2,501,000	–	79,217	–	0.26%	–
ZIXI	New	ZIX CORP	$2,489,000	–	353,069	–	0.26%	–
TPIC	New	TPI COMPOSITES INC	$2,443,000	–	50,459	–	0.25%	–
CYBR	New	CYBERARK SOFTWARE LTD	$2,433,000	–	18,675	–	0.25%	–
DFS	New	DISCOVER FINANCIAL SERVICES	$2,404,000	–	20,319	–	0.25%	–
IRBT	New	IROBOT CORP	$2,259,000	–	24,184	–	0.24%	–
ULTA	New	ULTA BEAUTY	$2,205,000	–	6,376	–	0.23%	–
LLY	New	LILLY ELI	$2,173,000	–	9,466	–	0.23%	–
MCD	New	MCDONALDS	$1,928,000	–	8,348	–	0.20%	–
UBER	New	UBER TECHNOLOGIES	$1,858,000	–	37,075	–	0.19%	–
CSX	New	CSX	$1,590,000	–	49,557	–	0.17%	–
MTB	New	M&T BANK CORP	$1,359,000	–	9,354	–	0.14%	–
MDT	New	MEDTRONIC	$1,326,000	–	10,681	–	0.14%	–
BDX	New	BECTON DICKINSON	$1,301,000	–	5,350	–	0.14%	–
PFE	New	PFIZER	$963,000	–	24,588	–	0.10%	–
YUMC	New	YUM CHINA HOLDINGS	$901,000	–	13,600	–	0.09%	–
YUM	New	YUM! BRANDS	$782,000	–	6,800	–	0.08%	–
HD	New	HOME DEPOT	$605,000	–	1,896	–	0.06%	–
KMB	New	KIMBERLYCLARK	$601,000	–	4,492	–	0.06%	–
OPER	New	CLEARSHARES UTRA SHORT MATURITY	$500,000	–	5,000	–	0.05%	–
ASPU	New	ASPEN GROUP INC	$464,000	–	71,200	–	0.05%	–
TACT	New	TRANSACT TECHNOLOGIES INC	$450,000	–	32,777	–	0.05%	–
CL	New	COLGATEPALMOLIVE	$444,000	–	5,460	–	0.05%	–
ADP	New	AUTOMATIC DATA PROCESSING	$441,000	–	2,222	–	0.05%	–
GIS	New	GENERAL MILLS	$412,000	–	6,770	–	0.04%	–
NVEC	New	NVE CORP	$406,000	–	5,477	–	0.04%	–
QRHC	New	QUEST RESOURCE HOLDING CORP	$382,000	–	60,200	–	0.04%	–
DUK	New	DUKE ENERGY	$371,000	–	3,761	–	0.04%	–
LAD	New	LITHIA MOTORS INC	$363,000	–	1,055	–	0.04%	–
PSA	New	PUBLIC STORAGE	$368,000	–	1,225	–	0.04%	–
TFC	New	TRUIST FINANCIAL	$351,000	–	6,320	–	0.04%	–
UNP	New	UNION PACIFIC	$346,000	–	1,575	–	0.04%	–
CPRX	New	CATALYST PHARMACEUTICALS INC	$342,000	–	59,538	–	0.04%	–
PCYG	New	PARK CITY GROUP INC	$317,000	–	57,553	–	0.03%	–
MDY	New	SPDR SP MIDCAP 400	$309,000	–	630	–	0.03%	–
IRMD	New	IRADIMED CORP	$306,000	–	10,409	–	0.03%	–
O	New	REALTY INCOME	$307,000	–	4,603	–	0.03%	–
EVC	New	ENTRAVISION COMMUNICATIONS CORP	$301,000	–	45,000	–	0.03%	–
UMH	New	UMH PROPERTIES INC	$288,000	–	13,190	–	0.03%	–
BRKB	New	BERKSHIRE HATHAWAY CL B	$292,000	–	1,050	–	0.03%	–
EGRX	New	EAGLE PHARMACEUTICALS INC	$281,000	–	6,566	–	0.03%	–
XOM	New	EXXONMOBIL	$277,000	–	4,387	–	0.03%	–
PLPC	New	PREFORMED LINE PRODUCTS CO	$281,000	–	3,790	–	0.03%	–
BAX	New	BAXTER INTERNATIONAL	$275,000	–	3,422	–	0.03%	–
EEFT	New	EURONET WORLDWIDE INC	$271,000	–	2,000	–	0.03%	–
ANIK	New	ANIKA THERAPEUTICS INC	$268,000	–	6,199	–	0.03%	–
IJH	New	ISHARES CORE SP MID CAP	$266,000	–	990	–	0.03%	–
IJR	New	ISHARES CORE S&P SMALL CAP	$270,000	–	2,394	–	0.03%	–
PWFL	New	POWERFLEET INC	$271,000	–	37,584	–	0.03%	–
BLFS	New	BIOLIFE SOLUTIONS	$263,000	–	5,911	–	0.03%	–
OESX	New	ORION ENERGY SYSTEMS INC	$255,000	–	44,439	–	0.03%	–
BEEM	New	BEAM GLOBAL INC	$254,000	–	6,625	–	0.03%	–
RMD	New	RESMDE	$247,000	–	1,000	–	0.03%	–
UEIC	New	UNIVERSAL ELECTRONICS INC	$252,000	–	5,190	–	0.03%	–
HCKT	New	THE HACKETT GROUP INC	$254,000	–	14,082	–	0.03%	–
EPM	New	EVOLUTION PETROLEUM CORP	$252,000	–	50,815	–	0.03%	–
AON	New	AON	$239,000	–	1,000	–	0.02%	–
GWRS	New	GLOBAL WATER RESOURCES CORP	$244,000	–	14,287	–	0.02%	–
DOW	New	DOW	$244,000	–	3,850	–	0.02%	–
EAST	New	EASTSIDE DISTILLING INC	$227,000	–	80,935	–	0.02%	–
ZYXI	New	ZYNEX INC	$227,000	–	14,620	–	0.02%	–
WLDN	New	WILLDAN GROUP INC	$228,000	–	6,046	–	0.02%	–
IMXI	New	INTERNATIONAL MONEY EXPRESS INC	$225,000	–	15,185	–	0.02%	–
DRTT	New	DIRTT ENVIRONMENTAL SOLUTIONS LTD	$222,000	–	52,000	–	0.02%	–
KO	New	COCACOLA	$224,000	–	4,132	–	0.02%	–
IIIV	New	I3 VERTICALS INC	$214,000	–	7,071	–	0.02%	–
PETS	New	PETMED EXPRESS INC	$207,000	–	6,500	–	0.02%	–
WMT	New	WALMART STORES	$202,000	–	1,431	–	0.02%	–
LBAI	New	LAKELAND BANCORP INC	$196,000	–	11,203	–	0.02%	–
CNTY	New	CENTURY CASINOS INC	$188,000	–	14,000	–	0.02%	–
WTRH	New	WAITR HOLDINGS INC	$196,000	–	110,000	–	0.02%	–
PAYS	New	PAYSIGN	$185,000	–	58,300	–	0.02%	–
CTEK	New	CYNERGISTEK INC	$186,000	–	91,634	–	0.02%	–
ITI	New	ITERIS INC	$180,000	–	27,000	–	0.02%	–
FRST	New	PRIMIS FINANCIAL CORP	$168,000	–	11,000	–	0.02%	–
MCHT	New	MAUCH CHUNK TRUST FINANCIAL CORP	$128,000	–	10,395	–	0.01%	–
INVO	New	INVO BIOSCIENCE	$93,000	–	20,000	–	0.01%	–

Q4 2020

			Value		Shares		↓ Weighting
	Exit	WALMART DE MEXICO SAB DE CV ORD	$0	–	-10,520	–	-0.00%	–
EVC	Exit	ENTRAVISION COMMUNICATIONS CORP	$0	–	-50,000	–	-0.01%	–
ASUR	Exit	ASURE SOFTWARE INC	$0	–	-12,000	–	-0.01%	–
EAST	Exit	EASTSIDE DISTILLING INC	$0	–	-92,796	–	-0.02%	–
EPM	Exit	EVOLUTION PETROLEUM CORP	$0	–	-52,315	–	-0.02%	–
SONA	Exit	SOUTHERN NATIONAL BANCORP VA	$0	–	-12,954	–	-0.02%	–
LBAI	Exit	LAKELAND BANCORP INC	$0	–	-12,003	–	-0.02%	–
CPRX	Exit	CATALYST PHARMACEUTICALS INC	$0	–	-41,538	–	-0.02%	–
CTEK	Exit	CYNERGISTEK INC	$0	–	-81,247	–	-0.02%	–
GWRS	Exit	GLOBAL WATER RESOURCES CORP	$0	–	-14,787	–	-0.02%	–
HCKT	Exit	THE HACKETT GROUP INC	$0	–	-14,082	–	-0.02%	–
IMXI	Exit	INTERNATIONAL MONEY EXPRESS INC	$0	–	-12,685	–	-0.02%	–
UMH	Exit	UMH PROPERTIES INC	$0	–	-13,190	–	-0.02%	–
TGLS	Exit	TECNOGLASS INC	$0	–	-35,731	–	-0.03%	–
TACT	Exit	TRANSACT TECHNOLOGIES INC	$0	–	-37,785	–	-0.03%	–
AON	Exit	AON	$0	–	-1,000	–	-0.03%	–
BSTC	Exit	BIOSPECIFICS TECHNOLOGIES CORP	$0	–	-4,064	–	-0.03%	–
PWFL	Exit	POWERFLEET INC	$0	–	-38,084	–	-0.03%	–
IRMD	Exit	IRADIMED CORP	$0	–	-10,409	–	-0.03%	–
QRHC	Exit	QUEST RESOURCE HOLDING CORP	$0	–	-123,155	–	-0.03%	–
BRKB	Exit	BERKSHIRE HATHAWAY CL B	$0	–	-1,150	–	-0.03%	–
PCYG	Exit	PARK CITY GROUP INC	$0	–	-52,053	–	-0.04%	–
NVEC	Exit	NVE CORP	$0	–	-5,307	–	-0.04%	–
AKTS	Exit	AKOUSTIS TECHNOLOGIES INC	$0	–	-31,395	–	-0.04%	–
BAX	Exit	BAXTER INTERNATIONAL	$0	–	-3,422	–	-0.04%	–
ASPU	Exit	ASPEN GROUP INC	$0	–	-24,700	–	-0.04%	–
DUK	Exit	DUKE ENERGY	$0	–	-3,323	–	-0.04%	–
BLFS	Exit	BIOLIFE SOLUTIONS	$0	–	-10,111	–	-0.04%	–
O	Exit	REALTY INCOME	$0	–	-4,988	–	-0.04%	–
UNP	Exit	UNION PACIFIC	$0	–	-1,575	–	-0.04%	–
CL	Exit	COLGATEPALMOLIVE	$0	–	-4,560	–	-0.05%	–
MS	Exit	MORGAN STANLEY	$0	–	-10,130	–	-0.07%	–
FB	Exit	FACEBOOK	$0	–	-2,000	–	-0.07%	–
CTVA	Exit	CORTEVA	$0	–	-18,815	–	-0.08%	–
LLY	Exit	LILLY ELI	$0	–	-3,830	–	-0.08%	–
HD	Exit	HOME DEPOT	$0	–	-2,240	–	-0.09%	–
ADI	Exit	ANALOG DEVICES	$0	–	-5,350	–	-0.09%	–
YUMC	Exit	YUM CHINA HOLDINGS	$0	–	-13,600	–	-0.10%	–
YUM	Exit	YUM! BRANDS	$0	–	-8,800	–	-0.11%	–
UPS	Exit	UNITED PARCEL SERVICE CL B	$0	–	-5,281	–	-0.12%	–
MTB	Exit	M&T BANK CORP	$0	–	-10,054	–	-0.13%	–
ELAN	Exit	ELANCO ANIMAL HEALTH	$0	–	-36,790	–	-0.14%	–
PNC	Exit	PNC FINANCIAL SERVICES GROUP	$0	–	-11,392	–	-0.18%	–
PG	Exit	PROCTER & GAMBLE	$0	–	-9,117	–	-0.18%	–
CVX	Exit	CHEVRON	$0	–	-17,964	–	-0.18%	–
PDCE	Exit	PDC ENERGY INC	$0	–	-123,485	–	-0.21%	–
TYL	Exit	TYLER TECHNOLOGIES	$0	–	-5,011	–	-0.24%	–
INBK	Exit	FIRST INTERNET BANCORP	$0	–	-120,822	–	-0.25%	–
MGRC	Exit	MCGRATH RENTCORP	$0	–	-30,303	–	-0.25%	–
AVAV	Exit	AEROVIRONMENT INC	$0	–	-30,125	–	-0.25%	–
NVEE	Exit	NV5 GLOBAL INC	$0	–	-36,043	–	-0.27%	–
HCSG	Exit	HEALTHCARE SERVICES GROUP INC	$0	–	-89,272	–	-0.27%	–
EPAY	Exit	BOTTOMLINE TECHNOLOGIES INC	$0	–	-46,242	–	-0.27%	–
IRBT	Exit	IROBOT CORP	$0	–	-25,670	–	-0.27%	–
ORBC	Exit	ORBCOMM INC	$0	–	-579,287	–	-0.28%	–
CPSI	Exit	COMPUTER PROGRAMS & SYSTEMS INC	$0	–	-71,528	–	-0.28%	–
IOSP	Exit	INNOSPEC INC	$0	–	-31,485	–	-0.28%	–
EBIX	Exit	EBIX INC	$0	–	-97,054	–	-0.28%	–
THRM	Exit	GENTHERM INC	$0	–	-49,960	–	-0.29%	–
XOM	Exit	EXXONMOBIL	$0	–	-59,552	–	-0.29%	–
VSS	Exit	VANGUARD FTSE ALLWORLD EXUS SMALLCAP ETF	$0	–	-19,394	–	-0.29%	–
AMRC	Exit	AMERESCO INC	$0	–	-62,177	–	-0.29%	–
CYBR	Exit	CYBERARK SOFTWARE LTD	$0	–	-20,538	–	-0.30%	–
AMZN	Exit	AMAZON.COM	$0	–	-684	–	-0.30%	–
ZIXI	Exit	ZIX CORP	$0	–	-385,017	–	-0.32%	–
CVGW	Exit	CALAVO GROWERS INC	$0	–	-34,155	–	-0.32%	–
SFNC	Exit	SIMMONS FIRST NATIONAL CORP	$0	–	-145,156	–	-0.32%	–
CAMP	Exit	CALAMP CORP	$0	–	-323,391	–	-0.32%	–
HSTM	Exit	HEALTHSTREAM INC	$0	–	-116,430	–	-0.33%	–
ACN	Exit	ACCENTURE	$0	–	-10,400	–	-0.33%	–
IMAX	Exit	IMAX Corp	$0	–	-197,764	–	-0.33%	–
CRY	Exit	CRYOLIFE INC	$0	–	-130,151	–	-0.34%	–
ADP	Exit	AUTOMATIC DATA PROCESSING	$0	–	-17,289	–	-0.34%	–
DWM	Exit	WISDOMTREE DEFA INDEX	$0	–	-54,400	–	-0.35%	–
QTS	Exit	QTS REALTY TRUST INC	$0	–	-39,681	–	-0.35%	–
AXON	Exit	AXON ENTERPRISE INC	$0	–	-30,778	–	-0.39%	–
OMCL	Exit	OMNICELL INC	$0	–	-38,585	–	-0.40%	–
AMN	Exit	AMN HEALTHCARE SERVICES INC	$0	–	-51,454	–	-0.42%	–
SONO	Exit	SONOS INC	$0	–	-201,335	–	-0.43%	–
TREE	Exit	LENDINGTREE INC	$0	–	-9,965	–	-0.43%	–
MNR	Exit	MONMOUTH REAL ESTATE INVESTMENT CORP	$0	–	-229,765	–	-0.44%	–
GDOT	Exit	GREEN DOT CORP	$0	–	-63,927	–	-0.45%	–
TRUP	Exit	TRUPANION INC	$0	–	-41,723	–	-0.46%	–
AX	Exit	AXOS FINANCIAL INC	$0	–	-142,174	–	-0.46%	–
LMT	Exit	LOCKHEED MARTIN	$0	–	-9,365	–	-0.50%	–
BDX	Exit	BECTON DICKINSON	$0	–	-15,931	–	-0.52%	–
LPSN	Exit	LIVEPERSON INC	$0	–	-72,036	–	-0.52%	–
EFA	Exit	ISHARES MSCI EAFE INDEX	$0	–	-59,269	–	-0.53%	–
ITW	Exit	ILLINOIS TOOL WORKS	$0	–	-20,700	–	-0.56%	–
LOVE	Exit	LOVESAC CO	$0	–	-156,975	–	-0.61%	–
COST	Exit	COSTCO WHOLESALE	$0	–	-12,340	–	-0.61%	–
NVDA	Exit	NVIDIA	$0	–	-8,654	–	-0.66%	–
ZTS	Exit	ZOETIS	$0	–	-31,150	–	-0.72%	–
CCI	Exit	CROWN CASTLE INTERNATIONL REIT	$0	–	-32,015	–	-0.75%	–
KMB	Exit	KIMBERLYCLARK	$0	–	-39,120	–	-0.81%	–
RTX	Exit	RAYTHEON TECHNOLOGIES	$0	–	-104,831	–	-0.84%	–
TXN	Exit	TEXAS INSTRUMENTS	$0	–	-46,170	–	-0.92%	–
NEE	Exit	NEXTERA ENERGY RESOURCES	$0	–	-25,441	–	-0.99%	–
CSCO	Exit	CISCO SYSTEMS	$0	–	-180,845	–	-1.00%	–
PANW	Exit	PALO ALTO NETWORKS	$0	–	-29,750	–	-1.02%	–
BBY	Exit	BEST BUY	$0	–	-65,920	–	-1.03%	–
GOOGL	Exit	ALPHABET CLASS A	$0	–	-5,018	–	-1.03%	–
LIN	Exit	LINDE PLC	$0	–	-32,275	–	-1.08%	–
TGT	Exit	TARGET	$0	–	-49,202	–	-1.08%	–
VWO	Exit	VANGUARD FTSE EMERGING MARKETS ETF	$0	–	-190,130	–	-1.15%	–
DD	Exit	DUPONT DE NEMOURS	$0	–	-157,130	–	-1.22%	–
CB	Exit	CHUBB	$0	–	-76,362	–	-1.24%	–
V	Exit	VISA	$0	–	-46,018	–	-1.29%	–
GS	Exit	GOLDMAN SACHS GROUP	$0	–	-46,733	–	-1.32%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-65,748	–	-1.37%	–
EMR	Exit	EMERSON ELECTRIC	$0	–	-150,157	–	-1.38%	–
ABBV	Exit	ABBVIE	$0	–	-117,705	–	-1.44%	–
T	Exit	A T & T NEW	$0	–	-365,525	–	-1.46%	–
PFE	Exit	PFIZER	$0	–	-284,572	–	-1.46%	–
DLR	Exit	DIGITAL REALTY TRUST	$0	–	-71,309	–	-1.46%	–
AXP	Exit	AMERICAN EXPRESS	$0	–	-112,625	–	-1.58%	–
GIS	Exit	GENERAL MILLS	$0	–	-184,500	–	-1.59%	–
SBUX	Exit	STARBUCKS	$0	–	-134,576	–	-1.62%	–
SYK	Exit	STRYKER	$0	–	-56,569	–	-1.65%	–
LOW	Exit	LOWES	$0	–	-74,163	–	-1.72%	–
JPM	Exit	JPMORGAN CHASE	$0	–	-127,851	–	-1.72%	–
TJX	Exit	TJX COMPANIES	$0	–	-222,525	–	-1.73%	–
CSX	Exit	CSX	$0	–	-165,211	–	-1.80%	–
PYPL	Exit	PAYPAL HOLDINGS	$0	–	-67,028	–	-1.85%	–
ADBE	Exit	ADOBE	$0	–	-28,120	–	-1.93%	–
QCOM	Exit	QUALCOMM	$0	–	-122,152	–	-2.01%	–
MRK	Exit	MERCK	$0	–	-175,342	–	-2.04%	–
DIS	Exit	DISNEY WALT	$0	–	-121,190	–	-2.10%	–
VZ	Exit	VERIZON COMMUNICATIONS	$0	–	-264,471	–	-2.20%	–
NKE	Exit	NIKE	$0	–	-133,045	–	-2.34%	–
HON	Exit	HONEYWELL INTERNATIONAL	$0	–	-106,029	–	-2.44%	–
IWM	Exit	ISHARES RUSSELL 2000 INDEX	$0	–	-119,753	–	-2.51%	–
ABT	Exit	ABBOTT LABORATORIES	$0	–	-205,557	–	-3.13%	–
MSFT	Exit	MICROSOFT	$0	–	-114,796	–	-3.38%	–
AAPL	Exit	APPLE	$0	–	-213,151	–	-3.46%	–
PEP	Exit	PEPSICO	$0	–	-246,811	–	-4.79%	–
SPY	Exit	SPDR S & P 500 INDEX	$0	–	-142,435	–	-6.68%	–

Q3 2020

			Value		Shares		↓ Weighting
SPY	Sell	SPDR S & P 500 INDEX	$47,700,000	+2.7%	142,435	-5.4%	6.68%	-3.1%
PEP	Sell	PEPSICO	$34,208,000	+3.7%	246,811	-1.1%	4.79%	-2.2%
AAPL	Buy	APPLE	$24,685,000	+1.3%	213,151	+218.9%	3.46%	-4.5%
MSFT	Sell	MICROSOFT	$24,145,000	-9.2%	114,796	-12.2%	3.38%	-14.4%
ABT	Sell	ABBOTT LABORATORIES	$22,371,000	+14.5%	205,557	-3.8%	3.13%	+8.0%
IWM	Sell	ISHARES RUSSELL 2000 INDEX	$17,938,000	+2.4%	119,753	-2.1%	2.51%	-3.4%
HON	Buy	HONEYWELL INTERNATIONAL	$17,453,000	+69.5%	106,029	+48.9%	2.44%	+59.9%
NKE	Sell	NIKE	$16,702,000	+14.7%	133,045	-10.4%	2.34%	+8.2%
VZ	Sell	VERIZON COMMUNICATIONS	$15,733,000	+5.6%	264,471	-2.2%	2.20%	-0.5%
DIS	Sell	DISNEY WALT	$15,037,000	+8.7%	121,190	-2.3%	2.10%	+2.6%
MRK	Sell	MERCK	$14,545,000	+5.0%	175,342	-2.2%	2.04%	-1.0%
QCOM	Sell	QUALCOMM	$14,375,000	+5.2%	122,152	-18.4%	2.01%	-0.7%
ADBE	Buy	ADOBE	$13,791,000	+59.7%	28,120	+41.7%	1.93%	+50.5%
PYPL	Sell	PAYPAL HOLDINGS	$13,207,000	-25.4%	67,028	-34.1%	1.85%	-29.7%
CSX	Buy	CSX	$12,832,000	+11.4%	165,211	+0.1%	1.80%	+5.1%
TJX	Sell	TJX COMPANIES	$12,384,000	+7.7%	222,525	-2.1%	1.73%	+1.6%
JPM	Sell	JPMORGAN CHASE	$12,308,000	+0.0%	127,851	-2.2%	1.72%	-5.6%
LOW	Buy	LOWES	$12,301,000	+54.9%	74,163	+26.2%	1.72%	+46.2%
SYK	Sell	STRYKER	$11,787,000	+14.2%	56,569	-1.2%	1.65%	+7.8%
SBUX	Sell	STARBUCKS	$11,563,000	+13.7%	134,576	-2.6%	1.62%	+7.2%
GIS	Sell	GENERAL MILLS	$11,380,000	-15.0%	184,500	-15.0%	1.59%	-19.8%
AXP	Buy	AMERICAN EXPRESS	$11,291,000	+78.0%	112,625	+69.0%	1.58%	+67.7%
DLR	Sell	DIGITAL REALTY TRUST	$10,465,000	+1.5%	71,309	-1.7%	1.46%	-4.2%
PFE	Sell	PFIZER	$10,444,000	+9.6%	284,572	-2.4%	1.46%	+3.3%
T	Sell	A T & T NEW	$10,421,000	-7.8%	365,525	-2.2%	1.46%	-13.0%
ABBV	Sell	ABBVIE	$10,310,000	-12.2%	117,705	-1.6%	1.44%	-17.2%
EMR	Buy	EMERSON ELECTRIC	$9,846,000	+66.5%	150,157	+57.5%	1.38%	+56.9%
JNJ	Buy	JOHNSON & JOHNSON	$9,789,000	+14.6%	65,748	+8.3%	1.37%	+8.1%
GS	Sell	GOLDMAN SACHS GROUP	$9,392,000	+0.2%	46,733	-1.5%	1.32%	-5.5%
V	Buy	VISA	$9,202,000	+5.5%	46,018	+1.9%	1.29%	-0.5%
CB	Sell	CHUBB	$8,867,000	-11.0%	76,362	-2.9%	1.24%	-16.0%
DD	Buy	DUPONT DE NEMOURS	$8,718,000	+1599.4%	157,130	+1528.3%	1.22%	+1505.3%
VWO	Buy	VANGUARD FTSE EMERGING MARKETS ETF	$8,221,000	+11.7%	190,130	+2.3%	1.15%	+5.4%
TGT	Sell	TARGET	$7,745,000	+5.8%	49,202	-19.4%	1.08%	-0.2%
LIN	Sell	LINDE PLC	$7,686,000	-7.7%	32,275	-17.8%	1.08%	-12.9%
GOOGL	Buy	ALPHABET CLASS A	$7,354,000	+4.2%	5,018	+0.8%	1.03%	-1.7%
BBY	New	BEST BUY	$7,336,000	–	65,920	–	1.03%	–
PANW	Buy	PALO ALTO NETWORKS	$7,281,000	+1297.5%	29,750	+1210.6%	1.02%	+1223.4%
CSCO	Sell	CISCO SYSTEMS	$7,123,000	-38.2%	180,845	-26.8%	1.00%	-41.7%
NEE	New	NEXTERA ENERGY RESOURCES	$7,061,000	–	25,441	–	0.99%	–
TXN	Buy	TEXAS INSTRUMENTS	$6,593,000	+41.5%	46,170	+25.8%	0.92%	+33.4%
RTX	Sell	RAYTHEON TECHNOLOGIES	$6,032,000	-41.8%	104,831	-37.7%	0.84%	-45.2%
KMB	Sell	KIMBERLYCLARK	$5,776,000	-54.3%	39,120	-56.3%	0.81%	-56.9%
CCI	New	CROWN CASTLE INTERNATIONL REIT	$5,330,000	–	32,015	–	0.75%	–
ZTS	Sell	ZOETIS	$5,151,000	+17.8%	31,150	-2.3%	0.72%	+11.1%
NVDA	Sell	NVIDIA	$4,684,000	+15.0%	8,654	-19.3%	0.66%	+8.6%
COST	Sell	COSTCO WHOLESALE	$4,381,000	-52.2%	12,340	-59.1%	0.61%	-54.9%
LOVE	Sell	LOVESAC CO	$4,350,000	+5.6%	156,975	-0.1%	0.61%	-0.5%
EFA	Buy	ISHARES MSCI EAFE INDEX	$3,772,000	+5.0%	59,269	+0.4%	0.53%	-0.9%
LPSN	Sell	LIVEPERSON INC	$3,745,000	-4.2%	72,036	-23.7%	0.52%	-9.7%
BDX	Sell	BECTON DICKINSON	$3,707,000	-7.2%	15,931	-4.6%	0.52%	-12.5%
LMT	Sell	LOCKHEED MARTIN	$3,589,000	+4.1%	9,365	-0.9%	0.50%	-2.0%
AX	Buy	AXOS FINANCIAL INC	$3,314,000	+9.2%	142,174	+3.5%	0.46%	+3.1%
TRUP	Buy	TRUPANION INC	$3,292,000	+89.2%	41,723	+2.4%	0.46%	+78.7%
GDOT	Sell	GREEN DOT CORP	$3,235,000	-17.0%	63,927	-19.5%	0.45%	-21.8%
MNR	Buy	MONMOUTH REAL ESTATE INVESTMENT CORP	$3,182,000	-2.8%	229,765	+1.7%	0.44%	-8.4%
TREE	Buy	LENDINGTREE INC	$3,058,000	+7.2%	9,965	+1.2%	0.43%	+1.2%
SONO	Sell	SONOS INC	$3,056,000	-15.5%	201,335	-18.6%	0.43%	-20.3%
AMN	Buy	AMN HEALTHCARE SERVICES INC	$3,008,000	+32.5%	51,454	+2.5%	0.42%	+24.9%
OMCL	Buy	OMNICELL INC	$2,881,000	+7.3%	38,585	+1.5%	0.40%	+1.3%
AXON	Buy	AXON ENTERPRISE INC	$2,792,000	-5.6%	30,778	+2.1%	0.39%	-10.9%
QTS	Sell	QTS REALTY TRUST INC	$2,501,000	-2.2%	39,681	-0.6%	0.35%	-7.9%
DWM	Buy	WISDOMTREE DEFA INDEX	$2,474,000	+3.0%	54,400	+0.3%	0.35%	-2.8%
ADP	Sell	AUTOMATIC DATA PROCESSING	$2,412,000	-9.7%	17,289	-3.6%	0.34%	-14.6%
CRY	Buy	CRYOLIFE INC	$2,404,000	+48.9%	130,151	+54.5%	0.34%	+40.0%
IMAX	Buy	IMAX Corp	$2,365,000	+89.4%	197,764	+77.5%	0.33%	+78.9%
ACN	Sell	ACCENTURE	$2,350,000	-21.3%	10,400	-25.2%	0.33%	-25.7%
HSTM	Buy	HEALTHSTREAM INC	$2,337,000	-7.8%	116,430	+1.7%	0.33%	-13.0%
CAMP	Buy	CALAMP CORP	$2,325,000	-7.6%	323,391	+3.0%	0.32%	-12.9%
SFNC	Buy	SIMMONS FIRST NATIONAL CORP	$2,301,000	+55.9%	145,156	+68.3%	0.32%	+47.0%
CVGW	Buy	CALAVO GROWERS INC	$2,263,000	+6.5%	34,155	+1.1%	0.32%	+0.6%
ZIXI	Buy	ZIX CORP	$2,248,000	-13.9%	385,017	+1.7%	0.32%	-18.8%
AMZN	New	AMAZON.COM	$2,154,000	–	684	–	0.30%	–
CYBR	Buy	CYBERARK SOFTWARE LTD	$2,124,000	+5.6%	20,538	+1.3%	0.30%	-0.7%
AMRC	Buy	AMERESCO INC	$2,077,000	+24.0%	62,177	+3.1%	0.29%	+16.9%
THRM	Buy	GENTHERM INC	$2,043,000	+6.7%	49,960	+1.5%	0.29%	+0.7%
VSS	Buy	VANGUARD FTSE ALLWORLD EXUS SMALLCAP ETF	$2,042,000	+10.4%	19,394	+1.3%	0.29%	+4.0%
EBIX	Buy	EBIX INC	$1,999,000	-4.7%	97,054	+3.5%	0.28%	-10.0%
IOSP	Buy	INNOSPEC INC	$1,994,000	+33.1%	31,485	+62.3%	0.28%	+25.7%
ORBC	Buy	ORBCOMM INC	$1,970,000	-9.9%	579,287	+2.0%	0.28%	-14.8%
CPSI	Buy	COMPUTER PROGRAMS & SYSTEMS INC	$1,975,000	+23.4%	71,528	+1.8%	0.28%	+16.0%
IRBT	Buy	IROBOT CORP	$1,948,000	-7.5%	25,670	+2.2%	0.27%	-12.8%
EPAY	Buy	BOTTOMLINE TECHNOLOGIES INC	$1,950,000	-15.8%	46,242	+1.3%	0.27%	-20.6%
HCSG	Buy	HEALTHCARE SERVICES GROUP INC	$1,922,000	-11.4%	89,272	+0.7%	0.27%	-16.5%
NVEE	Buy	NV5 GLOBAL INC	$1,902,000	+5.5%	36,043	+1.7%	0.27%	-0.4%
AVAV	Buy	AEROVIRONMENT INC	$1,808,000	-23.7%	30,125	+1.3%	0.25%	-28.1%
MGRC	Buy	MCGRATH RENTCORP	$1,806,000	+12.1%	30,303	+1.6%	0.25%	+5.9%
INBK	Buy	FIRST INTERNET BANCORP	$1,780,000	-7.3%	120,822	+4.6%	0.25%	-12.6%
TYL	Buy	TYLER TECHNOLOGIES	$1,747,000	+2.2%	5,011	+1.7%	0.24%	-3.5%
PDCE	Buy	PDC ENERGY INC	$1,531,000	+1.8%	123,485	+2.1%	0.21%	-4.0%
CVX	Sell	CHEVRON	$1,293,000	-86.0%	17,964	-82.6%	0.18%	-86.8%
PNC	Sell	PNC FINANCIAL SERVICES GROUP	$1,252,000	+2.2%	11,392	-2.2%	0.18%	-3.8%
ELAN	Sell	ELANCO ANIMAL HEALTH	$1,028,000	+28.3%	36,790	-1.4%	0.14%	+21.0%
UPS	Sell	UNITED PARCEL SERVICE CL B	$880,000	+47.2%	5,281	-1.9%	0.12%	+38.2%
YUM	Buy	YUM! BRANDS	$803,000	+12.6%	8,800	+7.3%	0.11%	+5.7%
YUMC	Buy	YUM CHINA HOLDINGS	$720,000	+15.2%	13,600	+4.6%	0.10%	+8.6%
ADI	Buy	ANALOG DEVICES	$625,000	+78.6%	5,350	+87.7%	0.09%	+67.3%
HD	Sell	HOME DEPOT	$622,000	-17.0%	2,240	-25.1%	0.09%	-21.6%
LLY	Sell	LILLY ELI	$567,000	-12.1%	3,830	-2.5%	0.08%	-17.7%
CTVA	Sell	CORTEVA	$542,000	-88.0%	18,815	-88.9%	0.08%	-88.7%
FB	Sell	FACEBOOK	$524,000	-58.0%	2,000	-63.6%	0.07%	-60.5%
MS	Sell	MORGAN STANLEY	$490,000	-59.6%	10,130	-59.7%	0.07%	-61.7%
O	Sell	REALTY INCOME	$303,000	-5.6%	4,988	-7.4%	0.04%	-12.5%
ASPU	Sell	ASPEN GROUP INC	$276,000	+5.3%	24,700	-14.5%	0.04%	0.0%
BAX	Sell	BAXTER INTERNATIONAL	$275,000	-21.9%	3,422	-16.4%	0.04%	-26.9%
NVEC	Buy	NVE CORP	$260,000	-4.4%	5,307	+20.4%	0.04%	-10.0%
QRHC	Buy	QUEST RESOURCE HOLDING CORP	$234,000	+52.9%	123,155	+8.8%	0.03%	+43.5%
AON	New	AON	$206,000	–	1,000	–	0.03%	–
TACT	Buy	TRANSACT TECHNOLOGIES INC	$189,000	+37.0%	37,785	+25.2%	0.03%	+30.0%
HCKT	Buy	THE HACKETT GROUP INC	$157,000	-6.5%	14,082	+13.7%	0.02%	-12.0%
CTEK	Buy	CYNERGISTEK INC	$128,000	+23.1%	81,247	+14.0%	0.02%	+20.0%
CPRX	New	CATALYST PHARMACEUTICALS INC	$123,000	–	41,538	–	0.02%	–
EPM	Buy	EVOLUTION PETROLEUM CORP	$117,000	+30.0%	52,315	+61.9%	0.02%	+23.1%
EAST	Sell	EASTSIDE DISTILLING INC	$106,000	-23.7%	92,796	-2.8%	0.02%	-28.6%
EVC	Buy	ENTRAVISION COMMUNICATIONS CORP	$76,000	+18.8%	50,000	+11.1%	0.01%	+22.2%
PFIE	Exit	PROFIRE ENERGY INC	$0	–	-76,302	–	-0.01%	–
TLYS	Exit	TILLYS INC	$0	–	-15,036	–	-0.01%	–
SGC	Exit	SUPERIOR UNIFORM GROUP INC	$0	–	-10,055	–	-0.02%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHINES	$0	–	-1,667	–	-0.03%	–
IIIV	Exit	I3 VERTICALS INC	$0	–	-6,796	–	-0.03%	–
MCD	Exit	MCDONALDS	$0	–	-1,255	–	-0.03%	–
QQQ	Exit	INVESCO QQQ TRUST	$0	–	-1,100	–	-0.04%	–
SWK	Exit	STANLEY BLACK & DECKER	$0	–	-2,100	–	-0.04%	–
SLP	Exit	SIMULATIONS PLUS INC	$0	–	-5,092	–	-0.04%	–
WFC	Exit	WELLS FARGO	$0	–	-18,517	–	-0.07%	–
PSA	Exit	PUBLIC STORAGE	$0	–	-8,170	–	-0.23%	–

Q2 2020

			Value		Shares		↓ Weighting
SPY	New	SPDR S & P 500 INDEX	$46,439,000	–	150,600	–	6.89%	–
PEP	New	PEPSICO	$32,995,000	–	249,474	–	4.90%	–
MSFT	New	MICROSOFT	$26,595,000	–	130,680	–	3.95%	–
AAPL	New	APPLE	$24,380,000	–	66,831	–	3.62%	–
ABT	New	ABBOTT LABORATORIES	$19,530,000	–	213,604	–	2.90%	–
PYPL	New	PAYPAL HOLDINGS	$17,713,000	–	101,665	–	2.63%	–
IWM	New	ISHARES RUSSELL 2000 INDEX	$17,519,000	–	122,353	–	2.60%	–
VZ	New	VERIZON COMMUNICATIONS	$14,903,000	–	270,321	–	2.21%	–
NKE	New	NIKE	$14,560,000	–	148,500	–	2.16%	–
MRK	New	MERCK	$13,858,000	–	179,212	–	2.06%	–
DIS	New	DISNEY WALT	$13,828,000	–	124,010	–	2.05%	–
QCOM	New	QUALCOMM	$13,659,000	–	149,751	–	2.03%	–
GIS	New	GENERAL MILLS	$13,389,000	–	217,171	–	1.99%	–
KMB	New	KIMBERLYCLARK	$12,640,000	–	89,423	–	1.88%	–
JPM	New	JPMORGAN CHASE	$12,302,000	–	130,788	–	1.83%	–
ABBV	New	ABBVIE	$11,742,000	–	119,594	–	1.74%	–
CSCO	New	CISCO SYSTEMS	$11,530,000	–	247,217	–	1.71%	–
CSX	New	CSX	$11,514,000	–	165,104	–	1.71%	–
TJX	New	TJX COMPANIES	$11,495,000	–	227,349	–	1.71%	–
T	New	A T & T NEW	$11,301,000	–	373,828	–	1.68%	–
RTX	New	RAYTHEON TECHNOLOGIES	$10,367,000	–	168,234	–	1.54%	–
SYK	New	STRYKER	$10,318,000	–	57,264	–	1.53%	–
DLR	New	DIGITAL REALTY TRUST	$10,311,000	–	72,559	–	1.53%	–
HON	New	HONEYWELL INTERNATIONAL	$10,298,000	–	71,222	–	1.53%	–
SBUX	New	STARBUCKS	$10,173,000	–	138,236	–	1.51%	–
CB	New	CHUBB	$9,958,000	–	78,647	–	1.48%	–
PFE	New	PFIZER	$9,533,000	–	291,515	–	1.42%	–
GS	New	GOLDMAN SACHS GROUP	$9,373,000	–	47,429	–	1.39%	–
CVX	New	CHEVRON	$9,212,000	–	103,242	–	1.37%	–
COST	New	COSTCO WHOLESALE	$9,156,000	–	30,197	–	1.36%	–
V	New	VISA	$8,724,000	–	45,163	–	1.30%	–
ADBE	New	ADOBE	$8,637,000	–	19,840	–	1.28%	–
JNJ	New	JOHNSON & JOHNSON	$8,540,000	–	60,724	–	1.27%	–
LIN	New	LINDE PLC	$8,330,000	–	39,270	–	1.24%	–
LOW	New	LOWES	$7,940,000	–	58,765	–	1.18%	–
VWO	New	VANGUARD FTSE EMERGING MARKETS ETF	$7,360,000	–	185,810	–	1.09%	–
TGT	New	TARGET	$7,317,000	–	61,009	–	1.09%	–
GOOGL	New	ALPHABET CLASS A	$7,058,000	–	4,977	–	1.05%	–
AXP	New	AMERICAN EXPRESS	$6,345,000	–	66,645	–	0.94%	–
EMR	New	EMERSON ELECTRIC	$5,914,000	–	95,337	–	0.88%	–
TXN	New	TEXAS INSTRUMENTS	$4,660,000	–	36,700	–	0.69%	–
CTVA	New	CORTEVA	$4,529,000	–	169,044	–	0.67%	–
ZTS	New	ZOETIS	$4,371,000	–	31,896	–	0.65%	–
LOVE	New	LOVESAC CO	$4,121,000	–	157,104	–	0.61%	–
NVDA	New	NVIDIA	$4,073,000	–	10,721	–	0.60%	–
BDX	New	BECTON DICKINSON	$3,994,000	–	16,691	–	0.59%	–
LPSN	New	LIVEPERSON INC	$3,910,000	–	94,380	–	0.58%	–
GDOT	New	GREEN DOT CORP	$3,898,000	–	79,415	–	0.58%	–
ITW	New	ILLINOIS TOOL WORKS	$3,619,000	–	20,700	–	0.54%	–
SONO	New	SONOS INC	$3,617,000	–	247,235	–	0.54%	–
EFA	New	ISHARES MSCI EAFE INDEX	$3,592,000	–	59,009	–	0.53%	–
LMT	New	LOCKHEED MARTIN	$3,449,000	–	9,452	–	0.51%	–
MNR	New	MONMOUTH REAL ESTATE INVESTMENT CORP	$3,273,000	–	225,857	–	0.49%	–
AX	New	AXOS FINANCIAL INC	$3,034,000	–	137,404	–	0.45%	–
ACN	New	ACCENTURE	$2,985,000	–	13,900	–	0.44%	–
AXON	New	AXON ENTERPRISE INC	$2,958,000	–	30,147	–	0.44%	–
TREE	New	LENDINGTREE INC	$2,852,000	–	9,849	–	0.42%	–
OMCL	New	OMNICELL INC	$2,684,000	–	38,003	–	0.40%	–
ADP	New	AUTOMATIC DATA PROCESSING	$2,671,000	–	17,939	–	0.40%	–
XOM	New	EXXONMOBIL	$2,663,000	–	59,552	–	0.40%	–
ZIXI	New	ZIX CORP	$2,612,000	–	378,579	–	0.39%	–
QTS	New	QTS REALTY TRUST INC	$2,558,000	–	39,908	–	0.38%	–
HSTM	New	HEALTHSTREAM INC	$2,534,000	–	114,505	–	0.38%	–
CAMP	New	CALAMP CORP	$2,515,000	–	314,032	–	0.37%	–
DWM	New	WISDOMTREE DEFA INDEX	$2,402,000	–	54,250	–	0.36%	–
AVAV	New	AEROVIRONMENT INC	$2,369,000	–	29,748	–	0.35%	–
EPAY	New	BOTTOMLINE TECHNOLOGIES INC	$2,317,000	–	45,642	–	0.34%	–
AMN	New	AMN HEALTHCARE SERVICES INC	$2,270,000	–	50,180	–	0.34%	–
ORBC	New	ORBCOMM INC	$2,186,000	–	567,786	–	0.32%	–
HCSG	New	HEALTHCARE SERVICES GROUP INC	$2,169,000	–	88,672	–	0.32%	–
CVGW	New	CALAVO GROWERS INC	$2,125,000	–	33,779	–	0.32%	–
IRBT	New	IROBOT CORP	$2,107,000	–	25,116	–	0.31%	–
EBIX	New	EBIX INC	$2,097,000	–	93,779	–	0.31%	–
CYBR	New	CYBERARK SOFTWARE LTD	$2,012,000	–	20,267	–	0.30%	–
INBK	New	FIRST INTERNET BANCORP	$1,920,000	–	115,523	–	0.28%	–
THRM	New	GENTHERM INC	$1,915,000	–	49,225	–	0.28%	–
VSS	New	VANGUARD FTSE ALLWORLD EXUS SMALLCAP ETF	$1,850,000	–	19,144	–	0.28%	–
NVEE	New	NV5 GLOBAL INC	$1,802,000	–	35,452	–	0.27%	–
TRUP	New	TRUPANION INC	$1,740,000	–	40,762	–	0.26%	–
TYL	New	TYLER TECHNOLOGIES	$1,709,000	–	4,926	–	0.25%	–
AMRC	New	AMERESCO INC	$1,675,000	–	60,283	–	0.25%	–
CRY	New	CRYOLIFE INC	$1,615,000	–	84,231	–	0.24%	–
MGRC	New	MCGRATH RENTCORP	$1,611,000	–	29,822	–	0.24%	–
CPSI	New	COMPUTER PROGRAMS & SYSTEMS INC	$1,601,000	–	70,268	–	0.24%	–
PSA	New	PUBLIC STORAGE	$1,568,000	–	8,170	–	0.23%	–
PDCE	New	PDC ENERGY INC	$1,504,000	–	120,899	–	0.22%	–
IOSP	New	INNOSPEC INC	$1,498,000	–	19,396	–	0.22%	–
SFNC	New	SIMMONS FIRST NATIONAL CORP	$1,476,000	–	86,253	–	0.22%	–
FB	New	FACEBOOK	$1,249,000	–	5,500	–	0.18%	–
IMAX	New	IMAX Corp	$1,249,000	–	111,445	–	0.18%	–
PNC	New	PNC FINANCIAL SERVICES GROUP	$1,225,000	–	11,647	–	0.18%	–
MS	New	MORGAN STANLEY	$1,214,000	–	25,130	–	0.18%	–
PG	New	PROCTER & GAMBLE	$1,090,000	–	9,117	–	0.16%	–
MTB	New	M&T BANK CORP	$1,045,000	–	10,054	–	0.16%	–
ELAN	New	ELANCO ANIMAL HEALTH	$801,000	–	37,330	–	0.12%	–
HD	New	HOME DEPOT	$749,000	–	2,991	–	0.11%	–
YUM	New	YUM! BRANDS	$713,000	–	8,200	–	0.11%	–
LLY	New	LILLY ELI	$645,000	–	3,930	–	0.10%	–
YUMC	New	YUM CHINA HOLDINGS	$625,000	–	13,000	–	0.09%	–
UPS	New	UNITED PARCEL SERVICE CL B	$598,000	–	5,381	–	0.09%	–
PANW	New	PALO ALTO NETWORKS	$521,000	–	2,270	–	0.08%	–
DD	New	DUPONT DE NEMOURS	$513,000	–	9,650	–	0.08%	–
WFC	New	WELLS FARGO	$474,000	–	18,517	–	0.07%	–
BAX	New	BAXTER INTERNATIONAL	$352,000	–	4,092	–	0.05%	–
ADI	New	ANALOG DEVICES	$350,000	–	2,850	–	0.05%	–
CL	New	COLGATEPALMOLIVE	$334,000	–	4,560	–	0.05%	–
O	New	REALTY INCOME	$321,000	–	5,388	–	0.05%	–
SLP	New	SIMULATIONS PLUS INC	$305,000	–	5,092	–	0.04%	–
SWK	New	STANLEY BLACK & DECKER	$293,000	–	2,100	–	0.04%	–
NVEC	New	NVE CORP	$272,000	–	4,407	–	0.04%	–
QQQ	New	INVESCO QQQ TRUST	$272,000	–	1,100	–	0.04%	–
UNP	New	UNION PACIFIC	$266,000	–	1,575	–	0.04%	–
AKTS	New	AKOUSTIS TECHNOLOGIES INC	$260,000	–	31,395	–	0.04%	–
ASPU	New	ASPEN GROUP INC	$262,000	–	28,900	–	0.04%	–
DUK	New	DUKE ENERGY	$265,000	–	3,323	–	0.04%	–
BSTC	New	BIOSPECIFICS TECHNOLOGIES CORP	$249,000	–	4,064	–	0.04%	–
IRMD	New	IRADIMED CORP	$242,000	–	10,409	–	0.04%	–
MCD	New	MCDONALDS	$232,000	–	1,255	–	0.03%	–
PCYG	New	PARK CITY GROUP INC	$220,000	–	52,053	–	0.03%	–
IIIV	New	I3 VERTICALS INC	$206,000	–	6,796	–	0.03%	–
BRKB	New	BERKSHIRE HATHAWAY CL B	$205,000	–	1,150	–	0.03%	–
IBM	New	INTERNATIONAL BUSINESS MACHINES	$201,000	–	1,667	–	0.03%	–
TGLS	New	TECNOGLASS INC	$195,000	–	35,731	–	0.03%	–
PWFL	New	POWERFLEET INC	$176,000	–	38,084	–	0.03%	–
HCKT	New	THE HACKETT GROUP INC	$168,000	–	12,382	–	0.02%	–
UMH	New	UMH PROPERTIES INC	$171,000	–	13,190	–	0.02%	–
BLFS	New	BIOLIFE SOLUTIONS	$165,000	–	10,111	–	0.02%	–
QRHC	New	QUEST RESOURCE HOLDING CORP	$153,000	–	113,155	–	0.02%	–
GWRS	New	GLOBAL WATER RESOURCES CORP	$156,000	–	14,787	–	0.02%	–
IMXI	New	INTERNATIONAL MONEY EXPRESS INC	$158,000	–	12,685	–	0.02%	–
EAST	New	EASTSIDE DISTILLING INC	$139,000	–	95,436	–	0.02%	–
TACT	New	TRANSACT TECHNOLOGIES INC	$138,000	–	30,185	–	0.02%	–
SGC	New	SUPERIOR UNIFORM GROUP INC	$135,000	–	10,055	–	0.02%	–
LBAI	New	LAKELAND BANCORP INC	$137,000	–	12,003	–	0.02%	–
SONA	New	SOUTHERN NATIONAL BANCORP VA	$126,000	–	12,954	–	0.02%	–
CTEK	New	CYNERGISTEK INC	$104,000	–	71,247	–	0.02%	–
TLYS	New	TILLYS INC	$85,000	–	15,036	–	0.01%	–
EPM	New	EVOLUTION PETROLEUM CORP	$90,000	–	32,315	–	0.01%	–
ASUR	New	ASURE SOFTWARE INC	$77,000	–	12,000	–	0.01%	–
PFIE	New	PROFIRE ENERGY INC	$64,000	–	76,302	–	0.01%	–
EVC	New	ENTRAVISION COMMUNICATIONS CORP	$64,000	–	45,000	–	0.01%	–
	New	WALMART DE MEXICO SAB DE CV ORD	$25,000	–	10,520	–	0.00%	–

Q4 2019

			Value		Shares		↓ Weighting
	Exit	WAL-MART DE MEXICO SAB DE CV ORD	$0	–	-10,520	–	-0.00%	–
PFIE	Exit	PROFIRE ENERGY	$0	–	-86,270	–	-0.02%	–
PMD	Exit	PSYCHEMEDICS CORP	$0	–	-18,360	–	-0.02%	–
EPM	Exit	EVOLUTION PETROLEUM CORP	$0	–	-29,637	–	-0.02%	–
FULT	Exit	FULTON FINANCIAL	$0	–	-10,626	–	-0.02%	–
TLYS	Exit	TILLYS INC	$0	–	-19,000	–	-0.02%	–
CWCO	Exit	CONSOLIDATED WATER CO	$0	–	-12,562	–	-0.03%	–
ASPU	Exit	ASPEN GROUP INC	$0	–	-41,200	–	-0.03%	–
UMH	Exit	UMH PROPERTIES	$0	–	-14,913	–	-0.03%	–
BOOM	Exit	DMC GLOBAL INC	$0	–	-4,770	–	-0.03%	–
PHX	Exit	PANHANDLE OIL & GAS INC	$0	–	-15,276	–	-0.03%	–
SGC	Exit	SUPERIOR UNIFORM	$0	–	-13,447	–	-0.03%	–
CTEK	Exit	CYNERGISTEK INC	$0	–	-71,450	–	-0.03%	–
PLPC	Exit	PREFORMED LINE PRODUCTS CO	$0	–	-4,133	–	-0.03%	–
CHUY	Exit	CHUYS HOLDINGS	$0	–	-9,000	–	-0.03%	–
BRKB	Exit	BERKSHIRE HATHAWAY	$0	–	-1,150	–	-0.03%	–
IJH	Exit	ISHARES CORE S&P MID CAP	$0	–	-1,268	–	-0.03%	–
HCKT	Exit	THE HACKETT GROUP	$0	–	-15,000	–	-0.03%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHINES	$0	–	-1,742	–	-0.04%	–
AON	Exit	AON	$0	–	-1,300	–	-0.04%	–
IDSY	Exit	ID SYSTEMS INC	$0	–	-47,858	–	-0.04%	–
UNP	Exit	UNION PACIFIC	$0	–	-1,625	–	-0.04%	–
MCD	Exit	MCDONALDS	$0	–	-1,220	–	-0.04%	–
IRMD	Exit	IRADIMED CORP	$0	–	-12,771	–	-0.04%	–
GWRS	Exit	GLOBAL WATER RESOURCES	$0	–	-22,448	–	-0.04%	–
SONA	Exit	SOUTHERN NATIONAL BANCORP VA	$0	–	-18,000	–	-0.04%	–
LBAI	Exit	LAKELAND BANCORP	$0	–	-17,833	–	-0.04%	–
PCYG	Exit	PARK CITY GROUP	$0	–	-50,886	–	-0.04%	–
TGLS	Exit	TECNOGLASS INC	$0	–	-38,739	–	-0.04%	–
QRHC	Exit	QUEST RESOURCE HOLDING CORP	$0	–	-125,000	–	-0.04%	–
DUK	Exit	DUKE ENERGY	$0	–	-3,323	–	-0.04%	–
FCBC	Exit	FIRST COMMUNITY BANCSHARES	$0	–	-9,968	–	-0.04%	–
SLP	Exit	SIMULATIONS PLUS	$0	–	-9,535	–	-0.04%	–
CZNC	Exit	CITIZENS & NORTHERN CORP	$0	–	-12,500	–	-0.04%	–
CCNE	Exit	CNB FINANCIAL CO	$0	–	-11,611	–	-0.05%	–
EAST	Exit	EASTSIDE DISTILLING INC	$0	–	-70,936	–	-0.05%	–
BAX	Exit	BAXTER INTERNATIONAL	$0	–	-4,092	–	-0.05%	–
NVEC	Exit	NVE CORP	$0	–	-5,423	–	-0.05%	–
TACT	Exit	TRANSACT TECHNOLOGIES INC	$0	–	-30,710	–	-0.05%	–
AKTS	Exit	AKOUSTIS TECHNOLOGIES INC	$0	–	-47,906	–	-0.05%	–
O	Exit	REALTY INCOME	$0	–	-5,388	–	-0.06%	–
CL	Exit	COLGATEPALMOLIVE	$0	–	-7,060	–	-0.07%	–
HD	Exit	HOME DEPOT	$0	–	-2,442	–	-0.08%	–
YUMC	Exit	YUM CHINA HOLDINGS	$0	–	-13,000	–	-0.08%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-6,276	–	-0.11%	–
SWKS	Exit	SKYWORKS SOLUTIONS	$0	–	-11,200	–	-0.12%	–
ADI	Exit	ANALOG DEVICES	$0	–	-8,300	–	-0.13%	–
YUM	Exit	YUM! BRANDS	$0	–	-8,200	–	-0.13%	–
FB	Exit	FACEBOOK	$0	–	-5,500	–	-0.13%	–
SWK	Exit	STANLEY BLACK & DECKER	$0	–	-7,500	–	-0.15%	–
PG	Exit	PROCTER & GAMBLE	$0	–	-10,237	–	-0.18%	–
UPS	Exit	UNITED PARCEL SERVICE CL B	$0	–	-10,681	–	-0.18%	–
ABBV	Exit	ABBVIE	$0	–	-17,890	–	-0.19%	–
AVAV	Exit	AEROVIRONMENT INC	$0	–	-28,802	–	-0.21%	–
ATRO	Exit	ASTRONICS CORP	$0	–	-56,790	–	-0.23%	–
CPSI	Exit	COMPUTER PROGRAM & SYSTEMS INC	$0	–	-78,557	–	-0.24%	–
LLY	Exit	LILLY ELI	$0	–	-16,370	–	-0.25%	–
VSS	Exit	VANGUARD FTSE ALL WORLD EX US SMALL	$0	–	-18,194	–	-0.26%	–
IRBT	Exit	IROBOT CORP	$0	–	-30,776	–	-0.26%	–
THRM	Exit	GENTHERM INC	$0	–	-48,023	–	-0.27%	–
MTDR	Exit	MATADOR RESOURCE	$0	–	-120,625	–	-0.27%	–
SFNC	Exit	SIMMONS FIRST NATIONAL CORP	$0	–	-83,807	–	-0.29%	–
ORBC	Exit	ORBCOMM INC	$0	–	-444,899	–	-0.29%	–
HCSG	Exit	HEALTHCARE SERVICES GROUP	$0	–	-88,432	–	-0.30%	–
NVDA	Exit	NVIDIA	$0	–	-12,726	–	-0.30%	–
CRY	Exit	CRYOLIFE INC	$0	–	-82,189	–	-0.31%	–
SRCI	Exit	SRC ENERGY INC	$0	–	-485,965	–	-0.31%	–
CVGW	Exit	CALAVO GROWERS	$0	–	-24,189	–	-0.32%	–
NVEE	Exit	NV5 GLOBAL INC	$0	–	-34,244	–	-0.32%	–
TVTY	Exit	TIVITY HEALTH INC	$0	–	-143,157	–	-0.33%	–
IMAX	Exit	IMAX CORP	$0	–	-108,770	–	-0.33%	–
TYL	Exit	TYLER TECHNOLOGIES	$0	–	-9,217	–	-0.33%	–
INBK	Exit	FIRST INTERNET BANCORP	$0	–	-113,560	–	-0.33%	–
AXON	Exit	AXON ENTERPRISE	$0	–	-43,054	–	-0.34%	–
COST	Exit	COSTCO WHOLESALE	$0	–	-8,670	–	-0.34%	–
CARB	Exit	CARBONITE INC	$0	–	-164,020	–	-0.35%	–
DWM	Exit	WISDOMTREE DEFA INDEX	$0	–	-52,340	–	-0.36%	–
HIIQ	Exit	HEALTH INSURANCE INNOVATIONS INC	$0	–	-105,201	–	-0.36%	–
CYBR	Exit	CYBERARK SOFTWARE	$0	–	-26,430	–	-0.36%	–
ZIXI	Exit	ZIX CORP	$0	–	-368,163	–	-0.37%	–
ACN	Exit	ACCENTURE	$0	–	-13,900	–	-0.37%	–
OMCL	Exit	OMNICELL INC	$0	–	-37,027	–	-0.37%	–
AMN	Exit	AMN HEALTHCARE SERVICES	$0	–	-46,764	–	-0.37%	–
HSTM	Exit	HEALTHSTREAM INC	$0	–	-111,952	–	-0.40%	–
TREE	Exit	LENDINGTREE INC	$0	–	-9,711	–	-0.41%	–
ADP	Exit	AUTOMATIC DATA PROCESSING	$0	–	-18,834	–	-0.42%	–
MGRC	Exit	MCGRATH RENTCORP	$0	–	-43,708	–	-0.42%	–
QTS	Exit	QTS REALTY TRUST	$0	–	-60,419	–	-0.43%	–
CAMP	Exit	CALAMP CORP	$0	–	-271,232	–	-0.43%	–
MNR	Exit	MONMOUTH REAL ESTATE INVESTMENT	$0	–	-220,377	–	-0.44%	–
SONO	Exit	SONOS INC	$0	–	-239,210	–	-0.44%	–
LOVE	Exit	LOVESAC CO	$0	–	-172,194	–	-0.44%	–
ITW	Exit	ILLINOIS TOOL WORKS	$0	–	-20,700	–	-0.44%	–
LPSN	Exit	LIVEPERSON INC	$0	–	-93,651	–	-0.46%	–
PSA	Exit	PUBLIC STORAGE	$0	–	-14,570	–	-0.49%	–
AX	Exit	AXOS FINANCIAL	$0	–	-129,278	–	-0.49%	–
EFA	Exit	ISHARES MSCI EAFFE INDEX	$0	–	-58,068	–	-0.52%	–
LMT	Exit	LOCKHEED MARTIN	$0	–	-10,723	–	-0.57%	–
CB	Exit	CHUBB	$0	–	-27,074	–	-0.60%	–
CTVA	Exit	CORTEVA	$0	–	-177,918	–	-0.68%	–
LIN	Exit	LINDE PLC	$0	–	-25,958	–	-0.69%	–
KO	Exit	COCACOLA	$0	–	-93,618	–	-0.70%	–
SYK	Exit	STRYKER	$0	–	-24,704	–	-0.73%	–
IBTX	Exit	INDEPENDENT BANK	$0	–	-105,000	–	-0.76%	–
VWO	Exit	VANGUARD FTSE EMERGING	$0	–	-176,210	–	-0.97%	–
DD	Exit	DUPONT DE NEMOUR	$0	–	-101,855	–	-1.00%	–
TCO	Exit	TAUBMAN CENTERS	$0	–	-189,188	–	-1.06%	–
MS	Exit	MORGAN STANLEY	$0	–	-197,850	–	-1.16%	–
GIS	Exit	GENERAL MILLS	$0	–	-169,825	–	-1.29%	–
HON	Exit	HONEYWELL INTERNATIONAL	$0	–	-61,975	–	-1.44%	–
MTB	Exit	M&T BANK CORP	$0	–	-67,739	–	-1.47%	–
PFE	Exit	PFIZER	$0	–	-306,878	–	-1.51%	–
DLR	Exit	DIGITAL REALTY TRUST	$0	–	-85,894	–	-1.53%	–
WFC	Exit	WELLS FARGO	$0	–	-221,311	–	-1.53%	–
SYY	Exit	SYSCO	$0	–	-144,766	–	-1.58%	–
TJX	Exit	TJX COMPANIES	$0	–	-212,395	–	-1.63%	–
PNC	Exit	PNC FINANCIAL SERVICES GROUP	$0	–	-84,534	–	-1.63%	–
CSX	Exit	CSX	$0	–	-172,244	–	-1.64%	–
CVX	Exit	CHEVRON	$0	–	-102,087	–	-1.66%	–
CSCO	Exit	CISCO SYSTEMS	$0	–	-249,170	–	-1.69%	–
RTN	Exit	RAYTHEON	$0	–	-63,822	–	-1.72%	–
UTX	Exit	UNITED TECHNOLOGIES	$0	–	-92,030	–	-1.73%	–
VZ	Exit	VERIZON COMMUNICATIONS	$0	–	-213,245	–	-1.77%	–
KMB	Exit	KIMBERLYCLARK	$0	–	-90,908	–	-1.77%	–
BDX	Exit	BECTON DICKINSON	$0	–	-53,458	–	-1.86%	–
LOW	Exit	LOWES	$0	–	-125,098	–	-1.89%	–
DLTR	Exit	DOLLAR TREE	$0	–	-121,017	–	-1.90%	–
DIS	Exit	DISNEY WALT	$0	–	-106,143	–	-1.90%	–
PANW	Exit	PALO ALTO NETWORKS	$0	–	-70,512	–	-1.97%	–
XOM	Exit	EXXONMOBIL	$0	–	-203,742	–	-1.98%	–
NKE	Exit	NIKE	$0	–	-157,945	–	-2.04%	–
PYPL	Exit	PAYPAL HOLDINGS	$0	–	-144,780	–	-2.06%	–
MRK	Exit	MERCK	$0	–	-179,732	–	-2.08%	–
ADBE	Exit	ADOBE SYSTEMS	$0	–	-56,038	–	-2.13%	–
T	Exit	A T & T NEW	$0	–	-409,335	–	-2.13%	–
ABT	Exit	ABBOTT LABORATORIES	$0	–	-208,218	–	-2.39%	–
MSFT	Exit	MICROSOFT	$0	–	-137,835	–	-2.63%	–
JPM	Exit	JPMORGAN CHASE	$0	–	-163,336	–	-2.64%	–
IWM	Exit	ISHARES RUSSELL 2000 INDEX	$0	–	-130,470	–	-2.71%	–
AAPL	Exit	APPLE	$0	–	-107,252	–	-3.30%	–
PEP	Exit	PEPSICO	$0	–	-230,578	–	-4.34%	–
SPY	Exit	SPDR S & P 500 INDEX	$0	–	-171,150	–	-6.98%	–

Q3 2019

			Value		Shares		↓ Weighting
SPY	Sell	SPDR S & P 500 INDEX	$50,792,000	-0.3%	171,150	-1.6%	6.98%	+3.3%
PEP	Buy	PEPSICO	$31,612,000	+9.5%	230,578	+4.7%	4.34%	+13.4%
AAPL	Sell	APPLE	$24,021,000	+12.0%	107,252	-1.0%	3.30%	+16.1%
IWM	Buy	ISHARES RUSSELL 2000 INDEX	$19,745,000	+2.0%	130,470	+4.8%	2.71%	+5.7%
JPM	Sell	JPMORGAN CHASE	$19,223,000	+5.1%	163,336	-0.2%	2.64%	+8.9%
MSFT	Buy	MICROSOFT	$19,163,000	+105.3%	137,835	+97.8%	2.63%	+112.8%
ABT	Sell	ABBOTT LABORATORIES	$17,422,000	-2.8%	208,218	-2.3%	2.39%	+0.7%
T	Sell	A T & T NEW	$15,489,000	+11.1%	409,335	-1.6%	2.13%	+15.1%
ADBE	Sell	ADOBE SYSTEMS	$15,480,000	-9.7%	56,038	-3.7%	2.13%	-6.4%
MRK	Sell	MERCK	$15,130,000	-1.2%	179,732	-1.6%	2.08%	+2.3%
PYPL	Sell	PAYPAL HOLDINGS	$14,998,000	-9.6%	144,780	-0.1%	2.06%	-6.3%
NKE	Sell	NIKE	$14,834,000	+10.7%	157,945	-1.0%	2.04%	+14.7%
XOM	Sell	EXXONMOBIL	$14,386,000	-8.1%	203,742	-0.3%	1.98%	-4.8%
PANW	Buy	PALO ALTO NETWORKS	$14,372,000	+0.1%	70,512	+0.1%	1.97%	+3.7%
DIS	Sell	DISNEY WALT	$13,833,000	-24.7%	106,143	-19.3%	1.90%	-21.9%
DLTR	Buy	DOLLAR TREE	$13,815,000	+10.1%	121,017	+3.6%	1.90%	+14.1%
LOW	Buy	LOWES	$13,756,000	+9.7%	125,098	+0.6%	1.89%	+13.6%
BDX	Buy	BECTON DICKINSON	$13,523,000	+4.2%	53,458	+3.8%	1.86%	+7.9%
KMB	Sell	KIMBERLYCLARK	$12,913,000	+6.2%	90,908	-0.3%	1.77%	+10.0%
VZ	Sell	VERIZON COMMUNICATIONS	$12,871,000	+5.5%	213,245	-0.2%	1.77%	+9.3%
UTX	Buy	UNITED TECHNOLOGIES	$12,564,000	+5.8%	92,030	+0.9%	1.73%	+9.6%
RTN	Buy	RAYTHEON	$12,521,000	+350.7%	63,822	+299.5%	1.72%	+367.4%
CSCO	Buy	CISCO SYSTEMS	$12,311,000	+4.3%	249,170	+15.5%	1.69%	+8.1%
CVX	Sell	CHEVRON	$12,108,000	-5.1%	102,087	-0.5%	1.66%	-1.7%
CSX	Sell	CSX	$11,931,000	-13.8%	172,244	-3.7%	1.64%	-10.6%
PNC	Sell	PNC FINANCIAL SERVICES GROUP	$11,848,000	+2.0%	84,534	-0.1%	1.63%	+5.6%
TJX	Buy	TJX COMPANIES	$11,839,000	+6.9%	212,395	+1.4%	1.63%	+10.8%
SYY	Buy	SYSCO	$11,494,000	+12.8%	144,766	+0.5%	1.58%	+16.9%
WFC	Sell	WELLS FARGO	$11,163,000	+5.0%	221,311	-1.5%	1.53%	+8.8%
DLR	Buy	DIGITAL REALTY TRUST	$11,150,000	+10.9%	85,894	+0.7%	1.53%	+14.9%
PFE	Sell	PFIZER	$11,026,000	-18.6%	306,878	-1.9%	1.51%	-15.7%
MTB	Sell	M&T BANK CORP	$10,701,000	-7.9%	67,739	-0.9%	1.47%	-4.6%
HON	New	HONEYWELL INTERNATIONAL	$10,486,000	–	61,975	–	1.44%	–
GIS	Buy	GENERAL MILLS	$9,361,000	+13.8%	169,825	+8.5%	1.29%	+18.0%
MS	New	MORGAN STANLEY	$8,442,000	–	197,850	–	1.16%	–
DD	New	DUPONT DE NEMOUR	$7,263,000	–	101,855	–	1.00%	–
VWO	Sell	VANGUARD FTSE EMERGING	$7,094,000	-6.0%	176,210	-0.7%	0.97%	-2.6%
SYK	Sell	STRYKER	$5,343,000	-62.7%	24,704	-64.6%	0.73%	-61.4%
KO	Sell	COCACOLA	$5,097,000	+6.5%	93,618	-0.4%	0.70%	+10.4%
LIN	Sell	LINDE PLC	$5,029,000	-44.2%	25,958	-42.2%	0.69%	-42.2%
CTVA	Sell	CORTEVA	$4,982,000	-6.1%	177,918	-0.8%	0.68%	-2.7%
CB	Sell	CHUBB	$4,371,000	-61.2%	27,074	-64.6%	0.60%	-59.8%
LMT	Sell	LOCKHEED MARTIN	$4,182,000	-12.7%	10,723	-18.6%	0.57%	-9.6%
EFA	Sell	ISHARES MSCI EAFFE INDEX	$3,787,000	-2.9%	58,068	-2.1%	0.52%	+0.6%
PSA	Sell	PUBLIC STORAGE	$3,574,000	-5.4%	14,570	-8.2%	0.49%	-2.0%
AX	Buy	AXOS FINANCIAL	$3,575,000	+1.9%	129,278	+0.4%	0.49%	+5.6%
LPSN	Sell	LIVEPERSON INC	$3,343,000	-20.9%	93,651	-37.9%	0.46%	-18.0%
LOVE	Buy	LOVESAC CO	$3,215,000	+1223.0%	172,194	+2104.5%	0.44%	+1281.2%
SONO	Buy	SONOS INC	$3,208,000	+18.7%	239,210	+0.4%	0.44%	+23.2%
MNR	Buy	MONMOUTH REAL ESTATE INVESTMENT	$3,176,000	+6.4%	220,377	+0.0%	0.44%	+10.1%
CAMP	Sell	CALAMP CORP	$3,125,000	-1.5%	271,232	-0.1%	0.43%	+2.1%
QTS	Sell	QTS REALTY TRUST	$3,106,000	-14.6%	60,419	-23.3%	0.43%	-11.4%
ADP	Sell	AUTOMATIC DATA PROCESSING	$3,040,000	-4.3%	18,834	-1.9%	0.42%	-0.7%
MGRC	Buy	MCGRATH RENTCORP	$3,042,000	+12.0%	43,708	+0.0%	0.42%	+16.1%
TREE	Buy	LENDINGTREE INC	$3,015,000	-25.9%	9,711	+0.3%	0.41%	-23.2%
HSTM	Buy	HEALTHSTREAM INC	$2,898,000	+0.2%	111,952	+0.1%	0.40%	+3.9%
AMN	Buy	AMN HEALTHCARE SERVICES	$2,692,000	+6.4%	46,764	+0.2%	0.37%	+10.1%
OMCL	Sell	OMNICELL INC	$2,676,000	-35.8%	37,027	-23.6%	0.37%	-33.5%
ACN	Sell	ACCENTURE	$2,674,000	-30.8%	13,900	-33.5%	0.37%	-28.3%
ZIXI	Buy	ZIX CORP	$2,666,000	-20.1%	368,163	+0.3%	0.37%	-17.2%
CYBR	Buy	CYBERARK SOFTWARE	$2,638,000	-21.6%	26,430	+0.5%	0.36%	-18.8%
HIIQ	Buy	HEALTH INSURANCE INNOVATIONS INC	$2,623,000	-3.7%	105,201	+0.1%	0.36%	-0.3%
DWM	Sell	WISDOMTREE DEFA INDEX	$2,602,000	-4.5%	52,340	-2.0%	0.36%	-1.1%
CARB	Buy	CARBONITE INC	$2,541,000	+6.6%	164,020	+79.2%	0.35%	+10.4%
COST	Sell	COSTCO WHOLESALE	$2,498,000	-82.2%	8,670	-83.7%	0.34%	-81.5%
AXON	Sell	AXON ENTERPRISE	$2,445,000	-34.9%	43,054	-26.4%	0.34%	-32.5%
INBK	Buy	FIRST INTERNET BANCORP	$2,431,000	+0.5%	113,560	+1.1%	0.33%	+4.0%
TYL	Sell	TYLER TECHNOLOGIES	$2,419,000	-71.1%	9,217	-76.2%	0.33%	-70.1%
IMAX	Buy	IMAX CORP	$2,388,000	+8.8%	108,770	+0.1%	0.33%	+12.7%
TVTY	Buy	TIVITY HEALTH INC	$2,381,000	+57.1%	143,157	+55.2%	0.33%	+62.7%
NVEE	Buy	NV5 GLOBAL INC	$2,338,000	-15.6%	34,244	+0.7%	0.32%	-12.5%
CVGW	Buy	CALAVO GROWERS	$2,302,000	-1.4%	24,189	+0.3%	0.32%	+2.3%
SRCI	Sell	SRC ENERGY INC	$2,265,000	-6.3%	485,965	-0.3%	0.31%	-2.8%
CRY	Buy	CRYOLIFE INC	$2,231,000	-8.8%	82,189	+0.5%	0.31%	-5.6%
NVDA	Buy	NVIDIA	$2,215,000	+26.9%	12,726	+19.7%	0.30%	+31.6%
HCSG	New	HEALTHCARE SERVICES GROUP	$2,148,000	–	88,432	–	0.30%	–
ORBC	Buy	ORBCOMM INC	$2,118,000	-31.9%	444,899	+3.6%	0.29%	-29.5%
SFNC	Buy	SIMMONS FIRST NATIONAL CORP	$2,087,000	+7.2%	83,807	+0.2%	0.29%	+11.2%
MTDR	Buy	MATADOR RESOURCE	$1,994,000	-16.8%	120,625	+0.1%	0.27%	-13.8%
THRM	Buy	GENTHERM INC	$1,973,000	-1.3%	48,023	+0.6%	0.27%	+2.3%
IRBT	Buy	IROBOT CORP	$1,898,000	+2.8%	30,776	+52.7%	0.26%	+6.5%
VSS	Sell	VANGUARD FTSE ALL WORLD EX US SMALL	$1,855,000	-5.3%	18,194	-2.2%	0.26%	-1.9%
LLY	Sell	LILLY ELI	$1,831,000	-5.7%	16,370	-6.6%	0.25%	-2.3%
CPSI	Buy	COMPUTER PROGRAM & SYSTEMS INC	$1,776,000	-18.3%	78,557	+0.5%	0.24%	-15.3%
ATRO	Buy	ASTRONICS CORP	$1,668,000	-26.6%	56,790	+0.5%	0.23%	-23.9%
AVAV	Buy	AEROVIRONMENT INC	$1,543,000	-5.2%	28,802	+0.4%	0.21%	-1.9%
ABBV	Sell	ABBVIE	$1,355,000	-17.3%	17,890	-20.6%	0.19%	-14.3%
UPS	Sell	UNITED PARCEL SERVICE CL B	$1,280,000	-16.7%	10,681	-28.2%	0.18%	-13.7%
PG	Sell	PROCTER & GAMBLE	$1,273,000	+4.8%	10,237	-7.6%	0.18%	+8.7%
SWK	Sell	STANLEY BLACK & DECKER	$1,083,000	-90.1%	7,500	-90.1%	0.15%	-89.7%
ADI	New	ANALOG DEVICES	$927,000	–	8,300	–	0.13%	–
JNJ	Sell	JOHNSON & JOHNSON	$812,000	-8.6%	6,276	-1.6%	0.11%	-5.1%
AKTS	Buy	AKOUSTIS TECHNOLOGIES INC	$371,000	+32.0%	47,906	+9.1%	0.05%	+37.8%
NVEC	Buy	NVE CORP	$360,000	+34.8%	5,423	+41.2%	0.05%	+40.0%
EAST	Buy	EASTSIDE DISTILLING INC	$347,000	+23.5%	70,936	+13.6%	0.05%	+29.7%
CCNE	Sell	CNB FINANCIAL CO	$333,000	-10.7%	11,611	-12.1%	0.05%	-6.1%
SLP	Sell	SIMULATIONS PLUS	$331,000	-17.2%	9,535	-32.0%	0.04%	-15.1%
TGLS	Buy	TECNOGLASS INC	$315,000	+27.5%	38,739	+1.9%	0.04%	+30.3%
PCYG	Buy	PARK CITY GROUP	$294,000	+14.4%	50,886	+6.3%	0.04%	+17.6%
GWRS	Sell	GLOBAL WATER RESOURCES	$266,000	+10.8%	22,448	-2.4%	0.04%	+15.6%
IDSY	Buy	ID SYSTEMS INC	$262,000	-2.2%	47,858	+5.2%	0.04%	0.0%
IJH	New	ISHARES CORE S&P MID CAP	$245,000	–	1,268	–	0.03%	–
BRKB	Buy	BERKSHIRE HATHAWAY	$239,000	+6.7%	1,150	+9.5%	0.03%	+10.0%
PLPC	New	PREFORMED LINE PRODUCTS CO	$226,000	–	4,133	–	0.03%	–
CTEK	Buy	CYNERGISTEK INC	$220,000	-21.4%	71,450	+23.3%	0.03%	-18.9%
SGC	Buy	SUPERIOR UNIFORM	$217,000	+3.3%	13,447	+9.8%	0.03%	+7.1%
ASPU	Buy	ASPEN GROUP INC	$214,000	+59.7%	41,200	+17.0%	0.03%	+61.1%
CWCO	Sell	CONSOLIDATED WATER CO	$207,000	-3.3%	12,562	-16.3%	0.03%	0.0%
UFAB	Exit	UNIQUE FABRICATING INC	$0	–	-15,186	–	-0.01%	–
DMRC	Exit	DIGIMARC CORP	$0	–	-5,029	–	-0.03%	–
EMKR	Exit	EMCORE CORP	$0	–	-75,000	–	-0.03%	–
ADUS	Exit	ADDUS HOMECARE	$0	–	-3,700	–	-0.04%	–
FARM	Exit	FARMER BROTHERS	$0	–	-68,391	–	-0.15%	–
SFLY	Exit	SHUTTERFLY INC	$0	–	-33,672	–	-0.23%	–
MMM	Exit	3M	$0	–	-32,151	–	-0.74%	–
DD	Exit	DUPONT DE NEMOUR	$0	–	-95,297	–	-0.95%	–
EMR	Exit	EMERSON ELECTRIC	$0	–	-136,550	–	-1.21%	–

Q2 2019

			Value		Shares		↓ Weighting
SPY	New	SPDR S & P 500 INDEX	$50,938,000	–	173,850	–	6.75%	–
PEP	New	PEPSICO	$28,880,000	–	220,238	–	3.83%	–
AAPL	New	APPLE	$21,440,000	–	108,328	–	2.84%	–
IWM	New	ISHARES RUSSELL 2000 INDEX	$19,355,000	–	124,470	–	2.57%	–
DIS	New	DISNEY WALT	$18,359,000	–	131,473	–	2.43%	–
JPM	New	JPMORGAN CHASE	$18,295,000	–	163,639	–	2.42%	–
ABT	New	ABBOTT LABORATORIES	$17,932,000	–	213,224	–	2.38%	–
ADBE	New	ADOBE SYSTEMS	$17,139,000	–	58,166	–	2.27%	–
PYPL	New	PAYPAL HOLDINGS	$16,588,000	–	144,924	–	2.20%	–
XOM	New	EXXONMOBIL	$15,661,000	–	204,372	–	2.08%	–
MRK	New	MERCK	$15,318,000	–	182,687	–	2.03%	–
PANW	New	PALO ALTO NETWORKS	$14,354,000	–	70,445	–	1.90%	–
SYK	New	STRYKER	$14,332,000	–	69,714	–	1.90%	–
COST	New	COSTCO WHOLESALE	$14,022,000	–	53,063	–	1.86%	–
T	New	A T & T NEW	$13,943,000	–	416,093	–	1.85%	–
CSX	New	CSX	$13,834,000	–	178,809	–	1.83%	–
PFE	New	PFIZER	$13,552,000	–	312,843	–	1.80%	–
NKE	New	NIKE	$13,398,000	–	159,591	–	1.78%	–
BDX	New	BECTON DICKINSON	$12,984,000	–	51,520	–	1.72%	–
CVX	New	CHEVRON	$12,762,000	–	102,555	–	1.69%	–
LOW	New	LOWES	$12,543,000	–	124,299	–	1.66%	–
DLTR	New	DOLLAR TREE	$12,545,000	–	116,818	–	1.66%	–
VZ	New	VERIZON COMMUNICATIONS	$12,205,000	–	213,640	–	1.62%	–
KMB	New	KIMBERLYCLARK	$12,157,000	–	91,213	–	1.61%	–
UTX	New	UNITED TECHNOLOGIES	$11,880,000	–	91,247	–	1.58%	–
CSCO	New	CISCO SYSTEMS	$11,807,000	–	215,740	–	1.56%	–
MTB	New	M&T BANK CORP	$11,624,000	–	68,347	–	1.54%	–
PNC	New	PNC FINANCIAL SERVICES GROUP	$11,618,000	–	84,634	–	1.54%	–
CB	New	CHUBB	$11,253,000	–	76,402	–	1.49%	–
TJX	New	TJX COMPANIES	$11,075,000	–	209,442	–	1.47%	–
SWK	New	STANLEY BLACK & DECKER	$10,908,000	–	75,429	–	1.45%	–
WFC	New	WELLS FARGO	$10,627,000	–	224,568	–	1.41%	–
SYY	New	SYSCO	$10,189,000	–	144,080	–	1.35%	–
DLR	New	DIGITAL REALTY TRUST	$10,052,000	–	85,337	–	1.33%	–
MSFT	New	MICROSOFT	$9,335,000	–	69,683	–	1.24%	–
EMR	New	EMERSON ELECTRIC	$9,111,000	–	136,550	–	1.21%	–
LIN	New	LINDE PLC	$9,014,000	–	44,890	–	1.20%	–
TYL	New	TYLER TECHNOLOGIES	$8,370,000	–	38,747	–	1.11%	–
GIS	New	GENERAL MILLS	$8,224,000	–	156,580	–	1.09%	–
TCO	New	TAUBMAN CENTERS	$7,725,000	–	189,188	–	1.02%	–
VWO	New	VANGUARD FTSE EMERGING MARKETS ETF	$7,546,000	–	177,420	–	1.00%	–
DD	New	DUPONT DE NEMOUR	$7,154,000	–	95,297	–	0.95%	–
IBTX	New	INDEPENDENT BANK GROUP	$5,771,000	–	105,000	–	0.76%	–
MMM	New	3M	$5,573,000	–	32,151	–	0.74%	–
CTVA	New	CORTEVA	$5,306,000	–	179,438	–	0.70%	–
LMT	New	LOCKHEED MARTIN	$4,790,000	–	13,177	–	0.64%	–
KO	New	COCACOLA	$4,785,000	–	93,968	–	0.63%	–
LPSN	New	LIVEPERSON INC	$4,226,000	–	150,710	–	0.56%	–
OMCL	New	OMNICELL INC	$4,170,000	–	48,467	–	0.55%	–
TREE	New	LENDINGTREE INC	$4,067,000	–	9,683	–	0.54%	–
EFA	New	ISHARES MSCI EAFE INDEX	$3,899,000	–	59,323	–	0.52%	–
ACN	New	ACCENTURE	$3,862,000	–	20,900	–	0.51%	–
PSA	New	PUBLIC STORAGE	$3,778,000	–	15,863	–	0.50%	–
AXON	New	AXON ENTERPRISE INC	$3,756,000	–	58,495	–	0.50%	–
QTS	New	QTS REALTY TRUST	$3,636,000	–	78,728	–	0.48%	–
AX	New	AXOS FINANCIAL	$3,509,000	–	128,779	–	0.46%	–
CYBR	New	CYBERARK SOFTWARE	$3,363,000	–	26,310	–	0.45%	–
ZIXI	New	ZIX CORP	$3,336,000	–	367,043	–	0.44%	–
ADP	New	AUTOMATIC DATA PROCESSING	$3,175,000	–	19,203	–	0.42%	–
CAMP	New	CALAMP CORP	$3,172,000	–	271,616	–	0.42%	–
ITW	New	ILLINOIS TOOL WORKS	$3,122,000	–	20,700	–	0.41%	–
ORBC	New	ORBCOMM INC	$3,112,000	–	429,296	–	0.41%	–
MNR	New	MONMOUTH REAL ESTATE INVESTMENT CORP	$2,986,000	–	220,364	–	0.40%	–
HSTM	New	HEALTHSTREAM INC	$2,893,000	–	111,877	–	0.38%	–
RTN	New	RAYTHEON	$2,778,000	–	15,975	–	0.37%	–
NVEE	New	NV5 GLOBAL INC	$2,769,000	–	34,021	–	0.37%	–
DWM	New	WISDOMTREE DEFA INDEX	$2,724,000	–	53,400	–	0.36%	–
HIIQ	New	HEALTH INSURANCE INNOVATIONS INC	$2,723,000	–	105,055	–	0.36%	–
MGRC	New	MCGRATH RENTCORP	$2,715,000	–	43,691	–	0.36%	–
SONO	New	SONOS INC	$2,702,000	–	238,250	–	0.36%	–
AMN	New	AMN HEALTHCARE SERVICES INC	$2,531,000	–	46,662	–	0.34%	–
CRY	New	CRYOLIFE INC	$2,447,000	–	81,756	–	0.32%	–
INBK	New	FIRST INTERNET BANCORP	$2,418,000	–	112,277	–	0.32%	–
SRCI	New	SRC ENERGY INC	$2,417,000	–	487,240	–	0.32%	–
MTDR	New	MATADOR RESOURCE	$2,397,000	–	120,557	–	0.32%	–
CARB	New	CARBONITE INC	$2,383,000	–	91,519	–	0.32%	–
CVGW	New	CALAVO GROWERS INC	$2,334,000	–	24,124	–	0.31%	–
ATRO	New	ASTRONICS CORP	$2,273,000	–	56,516	–	0.30%	–
IMAX	New	IMAX CORP	$2,195,000	–	108,661	–	0.29%	–
CPSI	New	COMPUTER PROGRAMS & SYSTEMS INC	$2,173,000	–	78,188	–	0.29%	–
THRM	New	GENTHERM INC	$1,998,000	–	47,754	–	0.26%	–
VSS	New	VANGUARD FTSE ALL WORD EXUS SMALLCAP ETF	$1,958,000	–	18,604	–	0.26%	–
SFNC	New	SIMMONS FIRST NATIONAL CORP	$1,946,000	–	83,655	–	0.26%	–
LLY	New	LILLY ELI	$1,941,000	–	17,520	–	0.26%	–
IRBT	New	IROBOT CORP	$1,847,000	–	20,154	–	0.24%	–
NVDA	New	NVIDIA	$1,746,000	–	10,631	–	0.23%	–
SFLY	New	SHUTTERFLY INC	$1,702,000	–	33,672	–	0.23%	–
ABBV	New	ABBVIE	$1,639,000	–	22,540	–	0.22%	–
AVAV	New	AEROVIRONMENT INC	$1,628,000	–	28,678	–	0.22%	–
UPS	New	UNITED PARCEL SERVICE CL B	$1,537,000	–	14,881	–	0.20%	–
TVTY	New	TIVITY HEALTH INC	$1,516,000	–	92,220	–	0.20%	–
PG	New	PROCTER & GAMBLE	$1,215,000	–	11,082	–	0.16%	–
FARM	New	FARMER BROTHERS	$1,120,000	–	68,391	–	0.15%	–
FB	New	FACEBOOK	$1,062,000	–	5,500	–	0.14%	–
YUM	New	YUM! Brands	$907,000	–	8,200	–	0.12%	–
JNJ	New	JOHNSON & JOHNSON	$888,000	–	6,376	–	0.12%	–
SWKS	New	SKYWORKS SOLUTIONS	$865,000	–	11,200	–	0.12%	–
YUMC	New	YUM CHINA HOLDINGS	$601,000	–	13,000	–	0.08%	–
HD	New	HOME DEPOT	$508,000	–	2,442	–	0.07%	–
CL	New	COLGATEPALMOLIVE	$506,000	–	7,060	–	0.07%	–
SLP	New	SIMULATIONS PLUS	$400,000	–	14,018	–	0.05%	–
CCNE	New	CNB FINANCIAL CO	$373,000	–	13,209	–	0.05%	–
O	New	REALTY INCOME	$372,000	–	5,388	–	0.05%	–
QRHC	New	QUEST RESOURCE HOLDING CORP	$346,000	–	125,000	–	0.05%	–
TACT	New	TRANSACT TECHNOLOGIES INC	$346,000	–	30,710	–	0.05%	–
FCBC	New	FIRST COMMUNITY BANCSHARES	$337,000	–	9,968	–	0.04%	–
CZNC	New	CITIZENS & NORTHERN CORP	$329,000	–	12,500	–	0.04%	–
BAX	New	BAXTER INTERNATIONAL	$335,000	–	4,092	–	0.04%	–
BOOM	New	DMC GLOBAL INC	$302,000	–	4,770	–	0.04%	–
DUK	New	DUKE ENERGY	$293,000	–	3,323	–	0.04%	–
LBAI	New	LAKELAND BANCORP	$288,000	–	17,833	–	0.04%	–
EAST	New	EASTSIDE DISTILLING INC	$281,000	–	62,436	–	0.04%	–
SONA	New	SOUTHERN NATIONAL BANCORP VA	$276,000	–	18,000	–	0.04%	–
AKTS	New	AKOUSTIS TECHNOLOGIES INC	$281,000	–	43,906	–	0.04%	–
ADUS	New	ADDUS HOMECARE	$277,000	–	3,700	–	0.04%	–
CTEK	New	CYNERGISTEK INC	$280,000	–	57,950	–	0.04%	–
UNP	New	UNION PACIFIC	$275,000	–	1,625	–	0.04%	–
IDSY	New	ID SYSTEMS INC	$268,000	–	45,508	–	0.04%	–
NVEC	New	NVE CORP	$267,000	–	3,841	–	0.04%	–
IRMD	New	IRADIMED CORP	$261,000	–	12,771	–	0.04%	–
PCYG	New	PARK CITY GROUP	$257,000	–	47,886	–	0.03%	–
MCD	New	MCDONALDS	$253,000	–	1,220	–	0.03%	–
AON	New	AON	$251,000	–	1,300	–	0.03%	–
TGLS	New	TECNOGLASS	$247,000	–	38,000	–	0.03%	–
EMKR	New	EMCORE CORP	$247,000	–	75,000	–	0.03%	–
HCKT	New	THE HACKETT GROUP	$252,000	–	15,000	–	0.03%	–
IBM	New	INTERNATIONAL BUSINESS MACHINES	$240,000	–	1,742	–	0.03%	–
GWRS	New	GLOBAL WATER RESOURCES	$240,000	–	23,000	–	0.03%	–
LOVE	New	LOVESAC CO	$243,000	–	7,811	–	0.03%	–
BRKB	New	BERKSHIRE HATHAWAY	$224,000	–	1,050	–	0.03%	–
DMRC	New	DIGIMARC CORP	$223,000	–	5,029	–	0.03%	–
EPM	New	EVOLUTION PETROLEUM CORP	$212,000	–	29,637	–	0.03%	–
CWCO	New	CONSOLIDATED WATER CO	$214,000	–	15,000	–	0.03%	–
SGC	New	SUPERIOR UNIFORM	$210,000	–	12,247	–	0.03%	–
CHUY	New	CHUYS HOLDINGS INC	$206,000	–	9,000	–	0.03%	–
PHX	New	PANHANDLE OIL & GAS INC	$199,000	–	15,276	–	0.03%	–
PMD	New	PSYCHEMEDICS CORP	$185,000	–	18,360	–	0.02%	–
UMH	New	UMH PROPERTIES	$185,000	–	14,913	–	0.02%	–
FULT	New	FULTON FINANCIAL	$174,000	–	10,626	–	0.02%	–
TLYS	New	TILLYS INC	$145,000	–	19,000	–	0.02%	–
ASPU	New	ASPEN GROUP INC	$134,000	–	35,200	–	0.02%	–
PFIE	New	PROFIRE ENERGY	$130,000	–	86,270	–	0.02%	–
UFAB	New	UNIQUE FABRICATING INC	$41,000	–	15,186	–	0.01%	–
	New	WAL-MART DE MEXICO SAB DE CV ORD	$29,000	–	10,520	–	0.00%	–

Q4 2018

			Value		Shares		↓ Weighting
	Exit	WAL-MART DE MEXICO SAB DE CV ORD	$0	–	-10,520	–	-0.00%	–
ASPU	Exit	ASPEN GROUP INC	$0	–	-20,000	–	-0.02%	–
CNTY	Exit	CENTURY CASINOS	$0	–	-20,000	–	-0.02%	–
GPX	Exit	GP STRATEGIES CO	$0	–	-10,000	–	-0.02%	–
PFIE	Exit	PROFIRE ENERGY	$0	–	-53,700	–	-0.02%	–
FULT	Exit	FULTON FINANCIAL	$0	–	-10,626	–	-0.02%	–
BOOM	Exit	DMC GLOBAL INC	$0	–	-5,000	–	-0.03%	–
MCD	Exit	MCDONALDS	$0	–	-1,205	–	-0.03%	–
PM	Exit	PHILIP MORRIS INTERNATIONAL	$0	–	-2,576	–	-0.03%	–
DOV	Exit	DOVER	$0	–	-2,314	–	-0.03%	–
KIRK	Exit	KIRKLANDS INC	$0	–	-21,177	–	-0.03%	–
EAST	Exit	EASTSIDE DISTILLING INC	$0	–	-27,244	–	-0.03%	–
CTEK	Exit	CYNERGISTEK INC	$0	–	-57,950	–	-0.03%	–
BRKB	Exit	BERKSHIRE HATHAWAY	$0	–	-1,050	–	-0.03%	–
AMGN	Exit	AMGEN	$0	–	-1,127	–	-0.03%	–
CHUY	Exit	CHUYS HOLDINGS	$0	–	-9,000	–	-0.03%	–
CWCO	Exit	CONSOLIDATED WATER CO	$0	–	-17,000	–	-0.03%	–
PMD	Exit	PSYCHEMEDICS CORP	$0	–	-12,902	–	-0.03%	–
GWRS	Exit	GLOBAL WATER RESOURCES	$0	–	-23,800	–	-0.03%	–
UMH	Exit	UMH PROPERTIES	$0	–	-16,213	–	-0.03%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHINES	$0	–	-1,742	–	-0.04%	–
GE	Exit	GENERAL ELECTRIC	$0	–	-23,030	–	-0.04%	–
DUK	Exit	DUKE ENERGY	$0	–	-3,323	–	-0.04%	–
RVLT	Exit	REVOLUTION LIGHT	$0	–	-94,619	–	-0.04%	–
PHX	Exit	PANHANDLE OIL & GAS INC	$0	–	-14,776	–	-0.04%	–
STI	Exit	SUNTRUST BANKS	$0	–	-4,185	–	-0.04%	–
SONA	Exit	SOUTHERN NATIONAL BANCORP VA	$0	–	-18,000	–	-0.04%	–
EMKR	Exit	EMCORE CORP	$0	–	-61,193	–	-0.04%	–
HCKT	Exit	THE HACKETT GROUP	$0	–	-15,000	–	-0.04%	–
O	Exit	REALTY INCOME	$0	–	-5,438	–	-0.04%	–
BAX	Exit	BAXTER INTERNATIONAL	$0	–	-4,092	–	-0.04%	–
MO	Exit	ALTRIA GROUP	$0	–	-5,212	–	-0.04%	–
UFAB	Exit	UNIQUE FABRICATING INC	$0	–	-38,665	–	-0.04%	–
IDSY	Exit	ID SYSTEMS INC	$0	–	-45,808	–	-0.04%	–
LBAI	Exit	LAKELAND BANCORP	$0	–	-17,833	–	-0.04%	–
EPM	Exit	EVOLUTION PETROLEUM CORP	$0	–	-29,637	–	-0.04%	–
CZNC	Exit	CITIZENS & NORTHERN CORP	$0	–	-12,500	–	-0.04%	–
ADUS	Exit	ADDUS HOMECARE	$0	–	-4,804	–	-0.04%	–
CPSI	Exit	COMPUTER PROGRAMS & SYSTEMS INC	$0	–	-12,988	–	-0.05%	–
NVS	Exit	NOVARTIS SPONSOR	$0	–	-4,237	–	-0.05%	–
DMRC	Exit	DIGIMARC CORP	$0	–	-13,060	–	-0.06%	–
FCBC	Exit	FIRST COMMUNITY BANCSHARES	$0	–	-12,600	–	-0.06%	–
CCNE	Exit	CNB FINANCIAL CO	$0	–	-14,800	–	-0.06%	–
ORBC	Exit	ORBCOMM INC	$0	–	-40,000	–	-0.06%	–
SLP	Exit	SIMULATIONS PLUS	$0	–	-21,757	–	-0.06%	–
PCYG	Exit	PARK CITY GROUP	$0	–	-44,515	–	-0.06%	–
CL	Exit	COLGATEPALMOLIVE	$0	–	-7,075	–	-0.06%	–
FAF	Exit	FIRST AMERICAN FINANCIAL	$0	–	-10,874	–	-0.08%	–
IRMD	Exit	IRADIMED CORP	$0	–	-15,687	–	-0.08%	–
HD	Exit	HOME DEPOT	$0	–	-2,921	–	-0.08%	–
YUM	Exit	YUM! BRANDS	$0	–	-8,200	–	-0.10%	–
WBA	Exit	WALGREENS BOOTS	$0	–	-11,256	–	-0.11%	–
WDC	Exit	WESTERN DIGITAL	$0	–	-14,800	–	-0.12%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-8,113	–	-0.15%	–
PG	Exit	PROCTER & GAMBLE	$0	–	-13,759	–	-0.15%	–
YUMC	Exit	YUM CHINA HOLDINGS	$0	–	-33,000	–	-0.16%	–
UNP	Exit	UNION PACIFIC	$0	–	-8,475	–	-0.19%	–
UPS	Exit	UNITED PARCEL SERVICE CL B	$0	–	-14,881	–	-0.23%	–
FARM	Exit	FARMER BROTHERS	$0	–	-68,459	–	-0.24%	–
VSS	Exit	VANGUARD FTSE ALL WORD EXUS SMALLCAP ETF	$0	–	-17,529	–	-0.26%	–
CARB	Exit	CARBONITE INC	$0	–	-55,893	–	-0.27%	–
CAMP	Exit	CALAMP CORP	$0	–	-85,784	–	-0.28%	–
MTDR	Exit	MATADOR RESOURCE	$0	–	-62,841	–	-0.28%	–
INBK	Exit	FIRST INTERNET BANCORP	$0	–	-68,755	–	-0.28%	–
ATRO	Exit	ASTRONICS CORP	$0	–	-49,042	–	-0.29%	–
THRM	Exit	GENTHERM INC	$0	–	-48,510	–	-0.30%	–
SFLY	Exit	SHUTTERFLY INC	$0	–	-33,690	–	-0.30%	–
TREE	Exit	LENDING TREE INC	$0	–	-9,874	–	-0.31%	–
MGRC	Exit	MCGRATH RENTCORP	$0	–	-43,656	–	-0.32%	–
SFNC	Exit	SIMMONS FIRST NATIONAL CORP	$0	–	-84,834	–	-0.34%	–
VIVO	Exit	MERIDIAN BIOSCIENCE INC	$0	–	-173,124	–	-0.35%	–
FTK	Exit	FLOTEK INDUSTRIES	$0	–	-1,148,312	–	-0.37%	–
IMAX	Exit	IMAX CORP	$0	–	-107,897	–	-0.37%	–
MNR	Exit	MONMOUTH REAL ESTATE INVESTMENT CORP	$0	–	-166,461	–	-0.37%	–
DWM	Exit	WISDOMTREE DEFA INDEX	$0	–	-53,025	–	-0.38%	–
CYBR	Exit	CYBERARK SOFTWARE	$0	–	-35,817	–	-0.38%	–
NTRI	Exit	NUTRISYSTEM INC	$0	–	-77,468	–	-0.39%	–
RAVN	Exit	RAVEN INDUSTRIES	$0	–	-62,860	–	-0.39%	–
ZIXI	Exit	ZIX CORP	$0	–	-520,359	–	-0.39%	–
CRY	Exit	CRYOLIFE INC	$0	–	-82,823	–	-0.39%	–
ITW	Exit	ILLINOIS TOOL WORKS	$0	–	-20,700	–	-0.39%	–
SRCI	Exit	SRC ENERGY INC	$0	–	-329,261	–	-0.39%	–
BOFI	Exit	AXOS FINANCIAL	$0	–	-90,920	–	-0.42%	–
AVAV	Exit	AEROVIRONMENT INC	$0	–	-27,919	–	-0.42%	–
SYY	Exit	SYSCO	$0	–	-45,473	–	-0.45%	–
AMN	Exit	AMN HEALTHCARE SERVICES INC	$0	–	-61,072	–	-0.45%	–
QTS	Exit	QTS REALTY TRUST	$0	–	-78,843	–	-0.45%	–
HSTM	Exit	HEALTHSTREAM INC	$0	–	-112,999	–	-0.47%	–
ACN	Exit	ACCENTURE	$0	–	-20,900	–	-0.48%	–
LPSN	Exit	LIVEPERSON INC	$0	–	-147,445	–	-0.51%	–
RTN	Exit	RAYTHEON	$0	–	-18,541	–	-0.52%	–
T	Exit	A T & T NEW	$0	–	-115,246	–	-0.52%	–
EFA	Exit	ISHARES MSCI EAFE INDEX	$0	–	-58,168	–	-0.53%	–
AXON	Exit	AXON ENTERPRISE INC	$0	–	-58,790	–	-0.54%	–
NSP	Exit	INSPERITY INC	$0	–	-35,982	–	-0.57%	–
IRBT	Exit	IROBOT CORP	$0	–	-39,105	–	-0.58%	–
NVEE	Exit	NV5 GLOBAL INC	$0	–	-50,633	–	-0.59%	–
OMCL	Exit	OMNICELL INC	$0	–	-62,902	–	-0.61%	–
KO	Exit	COCACOLA	$0	–	-100,696	–	-0.62%	–
ADP	Exit	AUTOMATIC DATA PROCESSING	$0	–	-32,604	–	-0.66%	–
MRK	Exit	MERCK	$0	–	-87,327	–	-0.83%	–
VWO	Exit	VANGUARD FTSE EMERGING MARKETS ETF	$0	–	-163,625	–	-0.90%	–
LLY	Exit	LILLY ELI	$0	–	-62,729	–	-0.90%	–
	Exit	PUBLIC STORAGE	$0	–	-35,658	–	-0.97%	–
KMB	Exit	KIMBERLY-CLARK	$0	–	-63,825	–	-0.98%	–
	Exit	ENERGEN	$0	–	-86,801	–	-1.01%	–
LMT	Exit	LOCKHEED MARTIN	$0	–	-23,282	–	-1.08%	–
SYK	Exit	STRYKER	$0	–	-48,269	–	-1.15%	–
ABBV	Exit	ABBVIE	$0	–	-95,525	–	-1.22%	–
MMM	Exit	3M	$0	–	-43,270	–	-1.23%	–
FB	Exit	FACEBOOK	$0	–	-56,105	–	-1.24%	–
CVX	Exit	CHEVRON	$0	–	-77,625	–	-1.28%	–
COST	Exit	COSTCO WHOLESALE	$0	–	-40,505	–	-1.28%	–
BDX	Exit	BECTON DICKINSON	$0	–	-37,263	–	-1.31%	–
VZ	Exit	VERIZON COMMUNICATIONS	$0	–	-182,482	–	-1.31%	–
PX	Exit	PRAXAIR	$0	–	-63,598	–	-1.38%	–
CB	Exit	CHUBB	$0	–	-77,537	–	-1.39%	–
SLB	Exit	SCHLUMBERGER	$0	–	-172,400	–	-1.41%	–
PANW	Exit	PALO ALTO NETWORKS	$0	–	-48,480	–	-1.47%	–
MTB	Exit	M&T BANK CORP	$0	–	-66,569	–	-1.47%	–
PFE	Exit	PFIZER	$0	–	-253,140	–	-1.50%	–
DWDP	Exit	DOWDUPONT	$0	–	-173,592	–	-1.50%	–
SWKS	Exit	SKYWORKS SOLUTIONS	$0	–	-123,318	–	-1.50%	–
TCO	Exit	TAUBMAN CENTERS	$0	–	-189,188	–	-1.52%	–
PAG	Exit	PENSKE AUTOMOTIVE GROUP	$0	–	-238,949	–	-1.52%	–
PNC	Exit	PNC FINANCIAL SERVICES GROUP	$0	–	-83,794	–	-1.54%	–
MSFT	Exit	MICROSOFT	$0	–	-103,380	–	-1.59%	–
PYPL	Exit	PAYPAL HOLDINGS	$0	–	-140,090	–	-1.66%	–
UTX	Exit	UNITED TECHNOLOGIES	$0	–	-88,644	–	-1.67%	–
CSX	Exit	CSX	$0	–	-173,285	–	-1.73%	–
NKE	Exit	NIKE	$0	–	-154,441	–	-1.76%	–
EMR	Exit	EMERSON ELECTRIC	$0	–	-176,208	–	-1.82%	–
LOW	Exit	LOWES	$0	–	-119,765	–	-1.85%	–
TYL	Exit	TYLER TECHNOLOGIES	$0	–	-56,677	–	-1.87%	–
CSCO	Exit	CISCO SYSTEMS	$0	–	-304,505	–	-1.99%	–
ADBE	Exit	ADOBE SYSTEMS	$0	–	-55,365	–	-2.01%	–
DIS	Exit	DISNEY WALT	$0	–	-130,097	–	-2.05%	–
WFC	Exit	WELLS FARGO	$0	–	-293,900	–	-2.08%	–
ABT	Exit	ABBOTT LABORATORIES	$0	–	-215,610	–	-2.13%	–
XOM	Exit	EXXONMOBIL	$0	–	-190,897	–	-2.18%	–
JPM	Exit	JPMORGAN CHASE	$0	–	-151,153	–	-2.29%	–
PEP	Exit	PEPSICO	$0	–	-219,208	–	-3.30%	–
IWM	Exit	ISHARES RUSSELL 2000 INDEX	$0	–	-146,320	–	-3.32%	–
AAPL	Exit	APPLE	$0	–	-110,443	–	-3.35%	–
SPY	Exit	SPDR S & P 500 INDEX	$0	–	-201,100	–	-7.86%	–

Q3 2018

			Value		Shares		↓ Weighting
SPY	Sell	SPDR S & P 500 INDEX	$58,464,000	+5.0%	201,100	-2.0%	7.86%	+0.6%
AAPL	Buy	APPLE	$24,932,000	+28.3%	110,443	+5.2%	3.35%	+22.9%
IWM	Sell	ISHARES RUSSELL 2000 INDEX	$24,662,000	+2.7%	146,320	-0.2%	3.32%	-1.6%
PEP	Sell	PEPSICO	$24,507,000	-16.9%	219,208	-19.1%	3.30%	-20.4%
JPM	Buy	JPMORGAN CHASE	$17,056,000	+19.1%	151,153	+9.9%	2.29%	+14.1%
XOM	Sell	EXXONMOBIL	$16,230,000	+2.6%	190,897	-0.1%	2.18%	-1.7%
ABT	Buy	ABBOTT LABORATORIES	$15,817,000	+26.9%	215,610	+5.5%	2.13%	+21.6%
WFC	Buy	WELLS FARGO	$15,447,000	+3.8%	293,900	+9.5%	2.08%	-0.6%
DIS	Buy	DISNEY WALT	$15,213,000	+27.4%	130,097	+14.2%	2.05%	+22.0%
ADBE	Buy	ADOBE SYSTEMS	$14,946,000	+95.1%	55,365	+76.2%	2.01%	+87.0%
CSCO	Buy	CISCO SYSTEMS	$14,814,000	+19.2%	304,505	+5.5%	1.99%	+14.2%
TYL	Buy	TYLER TECHNOLOGIES	$13,889,000	+19.5%	56,677	+8.3%	1.87%	+14.5%
LOW	Buy	LOWES	$13,751,000	+26.0%	119,765	+4.9%	1.85%	+20.7%
EMR	Buy	EMERSON ELECTRIC	$13,494,000	+15.5%	176,208	+4.3%	1.82%	+10.7%
NKE	Sell	NIKE	$13,084,000	+2.6%	154,441	-3.5%	1.76%	-1.8%
CSX	Buy	CSX	$12,832,000	+19.1%	173,285	+2.6%	1.73%	+14.2%
UTX	Buy	UNITED TECHNOLOGIES	$12,393,000	+16.8%	88,644	+4.4%	1.67%	+11.9%
PYPL	Buy	PAYPAL HOLDINGS	$12,306,000	+7.3%	140,090	+1.7%	1.66%	+2.8%
MSFT	Sell	MICROSOFT	$11,824,000	-37.0%	103,380	-45.7%	1.59%	-39.6%
PNC	Buy	PNC FINANCIAL SERVICES GROUP	$11,412,000	+5.9%	83,794	+5.0%	1.54%	+1.5%
PAG	Buy	PENSKE AUTOMOTIVE GROUP	$11,324,000	+3.4%	238,949	+2.2%	1.52%	-0.9%
SWKS	Buy	SKYWORKS SOLUTIONS	$11,186,000	-4.4%	123,318	+1.9%	1.50%	-8.5%
DWDP	Buy	DOWDUPONT	$11,164,000	+23.3%	173,592	+26.4%	1.50%	+18.1%
PFE	Buy	PFIZER	$11,156,000	+25.2%	253,140	+3.1%	1.50%	+19.9%
MTB	Buy	M&T BANK CORP	$10,953,000	+2.4%	66,569	+5.9%	1.47%	-1.9%
PANW	Sell	PALO ALTO NETWORKS	$10,921,000	+9.0%	48,480	-0.6%	1.47%	+4.5%
SLB	Buy	SCHLUMBERGER	$10,503,000	+23.9%	172,400	+36.3%	1.41%	+18.7%
CB	Buy	CHUBB	$10,362,000	+15.7%	77,537	+10.0%	1.39%	+10.8%
PX	Buy	PRAXAIR	$10,222,000	+7.0%	63,598	+5.3%	1.38%	+2.5%
VZ	Buy	VERIZON COMMUNICATIONS	$9,743,000	+22.8%	182,482	+15.8%	1.31%	+17.7%
BDX	Buy	BECTON DICKINSON	$9,726,000	+11.9%	37,263	+2.7%	1.31%	+7.2%
COST	Buy	COSTCO WHOLESALE	$9,514,000	+64.1%	40,505	+46.0%	1.28%	+57.1%
CVX	Buy	CHEVRON	$9,492,000	+8.4%	77,625	+12.1%	1.28%	+3.8%
FB	New	FACEBOOK	$9,227,000	–	56,105	–	1.24%	–
MMM	Buy	3M	$9,117,000	+14.8%	43,270	+7.2%	1.23%	+10.0%
ABBV	Buy	ABBVIE	$9,035,000	+10.5%	95,525	+8.2%	1.22%	+5.8%
SYK	Buy	STRYKER	$8,576,000	+40.2%	48,269	+33.2%	1.15%	+34.2%
LMT	Buy	LOCKHEED MARTIN	$8,055,000	+38.7%	23,282	+18.5%	1.08%	+32.9%
	Sell	ENERGEN	$7,480,000	-38.4%	86,801	-48.0%	1.01%	-41.0%
KMB	Buy	KIMBERLY-CLARK	$7,253,000	+17.2%	63,825	+8.6%	0.98%	+12.2%
	Buy	PUBLIC STORAGE	$7,190,000	-0.2%	35,658	+12.2%	0.97%	-4.4%
LLY	Buy	LILLY ELI	$6,731,000	+29.3%	62,729	+2.8%	0.90%	+23.8%
VWO	Sell	VANGUARD FTSE EMERGING MARKETS ETF	$6,709,000	-3.7%	163,625	-0.8%	0.90%	-7.8%
MRK	Sell	MERCK	$6,195,000	-35.9%	87,327	-45.2%	0.83%	-38.7%
ADP	Buy	AUTOMATIC DATA PROCESSING	$4,912,000	+12.9%	32,604	+0.5%	0.66%	+8.2%
KO	Buy	COCACOLA	$4,651,000	+51.5%	100,696	+43.9%	0.62%	+45.0%
OMCL	Sell	OMNICELL INC	$4,523,000	+34.5%	62,902	-1.9%	0.61%	+28.8%
NVEE	Sell	NV5 GLOBAL INC	$4,390,000	+23.5%	50,633	-1.3%	0.59%	+18.2%
IRBT	Sell	IROBOT CORP	$4,298,000	+42.9%	39,105	-1.5%	0.58%	+37.0%
NSP	Sell	INSPERITY INC	$4,244,000	+22.3%	35,982	-1.2%	0.57%	+17.2%
AXON	Sell	AXON ENTERPRISE INC	$4,023,000	+6.7%	58,790	-1.5%	0.54%	+2.3%
EFA	Sell	ISHARES MSCI EAFE INDEX	$3,955,000	+0.3%	58,168	-1.2%	0.53%	-3.8%
T	Buy	A T & T NEW	$3,870,000	+16.5%	115,246	+11.4%	0.52%	+11.3%
RTN	Buy	RAYTHEON	$3,832,000	+34.0%	18,541	+25.3%	0.52%	+28.4%
LPSN	Sell	LIVEPERSON INC	$3,826,000	+22.3%	147,445	-0.5%	0.51%	+17.1%
HSTM	Sell	HEALTHSTREAM INC	$3,504,000	+11.3%	112,999	-2.0%	0.47%	+6.6%
QTS	Sell	QTS REALTY TRUST	$3,364,000	-3.1%	78,843	-10.3%	0.45%	-7.2%
AMN	Sell	AMN HEALTHCARE SERVICES INC	$3,341,000	-8.3%	61,072	-1.8%	0.45%	-12.3%
SYY	Buy	SYSCO	$3,331,000	+7.9%	45,473	+0.6%	0.45%	+3.2%
AVAV	Sell	AEROVIRONMENT INC	$3,132,000	-20.7%	27,919	-49.5%	0.42%	-24.1%
BOFI	Sell	AXOS FINANCIAL	$3,127,000	-17.2%	90,920	-1.5%	0.42%	-20.8%
SRCI	New	SRC ENERGY INC	$2,927,000	–	329,261	–	0.39%	–
CRY	Sell	CRYOLIFE INC	$2,915,000	+14.0%	82,823	-9.8%	0.39%	+9.2%
ZIXI	Sell	ZIX CORP	$2,888,000	-0.9%	520,359	-3.8%	0.39%	-5.1%
RAVN	Sell	RAVEN INDUSTRIES	$2,876,000	+16.7%	62,860	-2.0%	0.39%	+11.8%
NTRI	Sell	NUTRISYSTEM INC	$2,870,000	-5.2%	77,468	-1.5%	0.39%	-9.2%
CYBR	Sell	CYBERARK SOFTWARE	$2,860,000	+24.8%	35,817	-1.6%	0.38%	+19.6%
DWM	Sell	WISDOMTREE DEFA INDEX	$2,817,000	-1.3%	53,025	-2.0%	0.38%	-5.5%
MNR	Sell	MONMOUTH REAL ESTATE INVESTMENT CORP	$2,783,000	-0.6%	166,461	-1.7%	0.37%	-4.8%
IMAX	Sell	IMAX CORP	$2,784,000	+2.0%	107,897	-12.4%	0.37%	-2.3%
FTK	Buy	FLOTEK INDUSTRIES	$2,756,000	+7.6%	1,148,312	+44.7%	0.37%	+3.1%
VIVO	Sell	MERIDIAN BIOSCIENCE INC	$2,580,000	-9.3%	173,124	-3.3%	0.35%	-13.2%
SFNC	Sell	SIMMONS FIRST NATIONAL CORP	$2,498,000	-3.5%	84,834	-2.0%	0.34%	-7.4%
MGRC	Sell	MCGRATH RENTCORP	$2,378,000	-15.3%	43,656	-1.6%	0.32%	-18.8%
TREE	Buy	LENDING TREE INC	$2,272,000	+19.4%	9,874	+10.9%	0.31%	+14.6%
SFLY	Sell	SHUTTERFLY INC	$2,220,000	-28.2%	33,690	-2.0%	0.30%	-31.1%
THRM	Sell	GENTHERM INC	$2,205,000	+13.3%	48,510	-2.0%	0.30%	+8.8%
ATRO	Sell	ASTRONICS CORP	$2,133,000	+18.8%	49,042	-1.7%	0.29%	+13.9%
INBK	Buy	FIRST INTERNET BANCORP	$2,094,000	+462.9%	68,755	+530.1%	0.28%	+442.3%
MTDR	Sell	MATADOR RESOURCE	$2,077,000	+7.9%	62,841	-1.9%	0.28%	+3.3%
CAMP	Sell	CALAMP CORP	$2,055,000	+0.5%	85,784	-1.7%	0.28%	-3.8%
CARB	Sell	CARBONITE INC	$1,993,000	+0.6%	55,893	-1.5%	0.27%	-3.6%
VSS	Sell	VANGUARD FTSE ALL WORD EXUS SMALLCAP ETF	$1,966,000	-5.1%	17,529	-2.4%	0.26%	-9.3%
FARM	Sell	FARMER BROTHERS	$1,807,000	-14.9%	68,459	-1.6%	0.24%	-18.5%
UNP	Buy	UNION PACIFIC	$1,380,000	+145.1%	8,475	+113.2%	0.19%	+135.4%
PG	Sell	PROCTER & GAMBLE	$1,145,000	-27.1%	13,759	-31.6%	0.15%	-30.0%
JNJ	Buy	JOHNSON & JOHNSON	$1,121,000	+25.3%	8,113	+10.0%	0.15%	+19.8%
WDC	Sell	WESTERN DIGITAL	$866,000	-88.2%	14,800	-84.4%	0.12%	-88.7%
WBA	Sell	WALGREENS BOOTS	$821,000	-82.0%	11,256	-85.2%	0.11%	-82.9%
IRMD	Sell	IRADIMED CORP	$583,000	+6.0%	15,687	-40.8%	0.08%	+1.3%
FAF	Sell	FIRST AMERICAN FINANCIAL	$561,000	-91.7%	10,874	-91.6%	0.08%	-92.1%
PCYG	Buy	PARK CITY GROUP	$450,000	+35.1%	44,515	+5.4%	0.06%	+29.8%
NVS	Buy	NOVARTIS SPONSOR	$365,000	+50.8%	4,237	+32.4%	0.05%	+44.1%
CPSI	Buy	COMPUTER PROGRAMS & SYSTEMS INC	$349,000	+12.9%	12,988	+38.3%	0.05%	+9.3%
EPM	Sell	EVOLUTION PETROLEUM CORP	$327,000	-9.4%	29,637	-19.1%	0.04%	-13.7%
MO	Buy	ALTRIA GROUP	$314,000	+34.8%	5,212	+27.2%	0.04%	+27.3%
BAX	Sell	BAXTER INTERNATIONAL	$315,000	+1.6%	4,092	-2.4%	0.04%	-4.5%
STI	New	SUNTRUST BANKS	$280,000	–	4,185	–	0.04%	–
RVLT	Buy	REVOLUTION LIGHT	$269,000	-16.2%	94,619	+18.8%	0.04%	-20.0%
DUK	Buy	DUKE ENERGY	$266,000	+2.7%	3,323	+1.5%	0.04%	0.0%
CWCO	Sell	CONSOLIDATED WATER CO	$235,000	+1.3%	17,000	-5.6%	0.03%	-3.0%
AMGN	Buy	AMGEN	$234,000	+14.7%	1,127	+2.0%	0.03%	+6.9%
BRKB	New	BERKSHIRE HATHAWAY	$225,000	–	1,050	–	0.03%	–
CTEK	Buy	CYNERGISTEK INC	$223,000	+21.2%	57,950	+24.4%	0.03%	+15.4%
EAST	Buy	EASTSIDE DISTILLING INC	$223,000	+31.2%	27,244	+36.3%	0.03%	+25.0%
PM	New	PHILIP MORRIS INTERNATIONAL	$210,000	–	2,576	–	0.03%	–
DOV	New	DOVER	$205,000	–	2,314	–	0.03%	–
MCD	New	MCDONALDS	$202,000	–	1,205	–	0.03%	–
REFR	Exit	RESEARCH FRONTIERS INC	$0	–	-97,887	–	-0.01%	–
HAYN	Exit	HAYNES INTERNATIONAL INC	$0	–	-5,500	–	-0.03%	–
BGFV	Exit	BIG 5 SPORTING GOODS CORP	$0	–	-31,630	–	-0.03%	–
JBSS	Exit	JOHN B SANFILIPPO & SON INC	$0	–	-4,000	–	-0.04%	–
SEAC	Exit	SEACHANGE INTERNATIONAL INC	$0	–	-836,454	–	-0.40%	–
NVEC	Exit	NVE CORP	$0	–	-27,991	–	-0.48%	–
XRAY	Exit	DENTSPLY SIRONA	$0	–	-182,561	–	-1.12%	–
SBUX	Exit	STARBUCKS	$0	–	-182,083	–	-1.25%	–

Q2 2018

			Value		Shares		↓ Weighting
SPY	New	SPDR S & P 500 INDEX	$55,667,000	–	205,200	–	7.82%	–
PEP	New	PEPSICO	$29,483,000	–	270,808	–	4.14%	–
IWM	New	ISHARES RUSSELL 2000 INDEX	$24,012,000	–	146,620	–	3.37%	–
AAPL	New	APPLE	$19,436,000	–	104,999	–	2.73%	–
MSFT	New	MICROSOFT	$18,758,000	–	190,221	–	2.63%	–
XOM	New	EXXONMOBIL	$15,812,000	–	191,123	–	2.22%	–
WFC	New	WELLS FARGO	$14,882,000	–	268,431	–	2.09%	–
JPM	New	JPMORGAN CHASE	$14,326,000	–	137,488	–	2.01%	–
NKE	New	NIKE	$12,754,000	–	160,066	–	1.79%	–
ABT	New	ABBOTT LABORATORIES	$12,460,000	–	204,292	–	1.75%	–
CSCO	New	CISCO SYSTEMS	$12,423,000	–	288,709	–	1.74%	–
	New	ENERGEN	$12,148,000	–	166,826	–	1.70%	–
DIS	New	DISNEY WALT	$11,945,000	–	113,964	–	1.68%	–
SWKS	New	SKYWORKS SOLUTIONS	$11,702,000	–	121,078	–	1.64%	–
EMR	New	EMERSON ELECTRIC	$11,684,000	–	168,992	–	1.64%	–
TYL	New	TYLER TECHNOLOGIES	$11,624,000	–	52,337	–	1.63%	–
PYPL	New	PAYPAL HOLDINGS	$11,469,000	–	137,735	–	1.61%	–
TCO	New	TAUBMAN CENTERS REIT	$11,117,000	–	189,188	–	1.56%	–
PAG	New	PENSKE AUTOMOTIVE GROUP	$10,950,000	–	233,729	–	1.54%	–
LOW	New	LOWES	$10,913,000	–	114,186	–	1.53%	–
PNC	New	PNC FINANCIAL SERVICES GROUP	$10,777,000	–	79,774	–	1.51%	–
CSX	New	CSX	$10,772,000	–	168,900	–	1.51%	–
MTB	New	M&T BANK CORP	$10,692,000	–	62,839	–	1.50%	–
UTX	New	UNITED TECHNOLOGIES	$10,613,000	–	84,884	–	1.49%	–
PANW	New	PALO ALTO NETWORKS	$10,018,000	–	48,755	–	1.41%	–
MRK	New	MERCK	$9,671,000	–	159,323	–	1.36%	–
PX	New	PRAXAIR	$9,551,000	–	60,393	–	1.34%	–
DWDP	New	DOWDUPONT	$9,054,000	–	137,349	–	1.27%	–
CB	New	CHUBB	$8,957,000	–	70,517	–	1.26%	–
PFE	New	PFIZER	$8,908,000	–	245,526	–	1.25%	–
SBUX	New	STARBUCKS	$8,895,000	–	182,083	–	1.25%	–
CVX	New	CHEVRON	$8,753,000	–	69,229	–	1.23%	–
BDX	New	BECTON DICKINSON	$8,692,000	–	36,283	–	1.22%	–
SLB	New	SCHLUMBERGER	$8,479,000	–	126,494	–	1.19%	–
ABBV	New	ABBVIE	$8,180,000	–	88,285	–	1.15%	–
XRAY	New	DENTSPLY SIRONA	$7,991,000	–	182,561	–	1.12%	–
MMM	New	3M	$7,943,000	–	40,377	–	1.12%	–
VZ	New	VERIZON COMMUNICATIONS	$7,931,000	–	157,633	–	1.11%	–
ADBE	New	ADOBE SYSTEMS	$7,659,000	–	31,415	–	1.08%	–
WDC	New	WESTERN DIGITAL	$7,344,000	–	94,870	–	1.03%	–
	New	PUBLIC STORAGE	$7,208,000	–	31,773	–	1.01%	–
VWO	New	VANGUARD FTSE EMERGING MARKETS ETF	$6,964,000	–	165,020	–	0.98%	–
FAF	New	FIRST AMERICAN FINANCIAL	$6,733,000	–	130,179	–	0.94%	–
KMB	New	KIMBERLYCLARK	$6,190,000	–	58,762	–	0.87%	–
SYK	New	STRYKER	$6,118,000	–	36,229	–	0.86%	–
LMT	New	LOCKHEED MARTIN	$5,806,000	–	19,653	–	0.82%	–
COST	New	COSTCO WHOLESALE	$5,796,000	–	27,735	–	0.81%	–
LLY	New	LILLY ELI	$5,206,000	–	61,009	–	0.73%	–
WBA	New	WALGREENS BOOTS ALLIANCE	$4,570,000	–	76,154	–	0.64%	–
ADP	New	AUTOMATIC DATA PROCESSING	$4,351,000	–	32,436	–	0.61%	–
AVAV	New	AEROVIRONMENT INC	$3,950,000	–	55,303	–	0.56%	–
EFA	New	ISHARES MSCI EAFE INDEX	$3,942,000	–	58,858	–	0.55%	–
BOFI	New	BOFI HOLDING INC	$3,775,000	–	92,277	–	0.53%	–
AXON	New	AXON ENTERPRISE INC	$3,771,000	–	59,694	–	0.53%	–
AMN	New	AMN HEALTHCARE SERVICES INC	$3,644,000	–	62,182	–	0.51%	–
NVEE	New	NV5 HOLDINGS INC	$3,556,000	–	51,316	–	0.50%	–
QTS	New	QTS REALTY TRUST INC	$3,470,000	–	87,851	–	0.49%	–
NSP	New	INSPERITY INC	$3,470,000	–	36,428	–	0.49%	–
ACN	New	ACCENTURE	$3,419,000	–	20,900	–	0.48%	–
NVEC	New	NVE CORP	$3,409,000	–	27,991	–	0.48%	–
OMCL	New	OMNICELL INC	$3,363,000	–	64,120	–	0.47%	–
T	New	A T & T NEW	$3,323,000	–	103,484	–	0.47%	–
HSTM	New	HEALTHSTREAM INC	$3,148,000	–	115,253	–	0.44%	–
LPSN	New	LIVEPERSON INC	$3,128,000	–	148,243	–	0.44%	–
SFLY	New	SHUTTERFLY INC	$3,094,000	–	34,369	–	0.43%	–
SYY	New	SYSCO	$3,088,000	–	45,218	–	0.43%	–
KO	New	COCACOLA	$3,069,000	–	69,966	–	0.43%	–
NTRI	New	NUTRISYSTEM INC	$3,028,000	–	78,638	–	0.42%	–
IRBT	New	IROBOT CORP	$3,008,000	–	39,693	–	0.42%	–
ZIXI	New	ZIX CORP	$2,914,000	–	540,710	–	0.41%	–
ITW	New	ILLINOIS TOOL WORKS	$2,868,000	–	20,700	–	0.40%	–
SEAC	New	SEACHANGE INTERNATIONAL INC	$2,861,000	–	836,454	–	0.40%	–
DWM	New	WISDOMTREE DEFA INDEX	$2,853,000	–	54,085	–	0.40%	–
RTN	New	RAYTHEON	$2,859,000	–	14,798	–	0.40%	–
VIVO	New	MERIDIAN BIOSCIENCE INC	$2,846,000	–	178,983	–	0.40%	–
MGRC	New	MCGRATH RENTCORP	$2,808,000	–	44,387	–	0.39%	–
MNR	New	MONMOUTH REAL ESTATE INVESTMENT CORP	$2,800,000	–	169,388	–	0.39%	–
IMAX	New	IMAX CORP	$2,729,000	–	123,197	–	0.38%	–
SFNC	New	SIMMONS FIRST NATIONAL CORP	$2,589,000	–	86,600	–	0.36%	–
FTK	New	FLOTEK INDUSTRIES INC	$2,562,000	–	793,319	–	0.36%	–
CRY	New	CRYOLIFE INC	$2,557,000	–	91,805	–	0.36%	–
RAVN	New	RAVEN INDUSTRIES INC	$2,465,000	–	64,114	–	0.35%	–
CYBR	New	CYBERARK SOFTWARE LTD	$2,292,000	–	36,404	–	0.32%	–
FARM	New	FARMER BROTHERS CO	$2,124,000	–	69,537	–	0.30%	–
VSS	New	VANGUARD FTSE ALLWORLD EXUS SMALLCAP ETF	$2,072,000	–	17,954	–	0.29%	–
CAMP	New	CALAMP CORP	$2,045,000	–	87,274	–	0.29%	–
CARB	New	CARBONITE INC	$1,981,000	–	56,757	–	0.28%	–
THRM	New	GENTHERM INC	$1,946,000	–	49,515	–	0.27%	–
MTDR	New	MATADOR RESOURCES CO	$1,925,000	–	64,056	–	0.27%	–
TREE	New	LENDING TREE INC	$1,903,000	–	8,900	–	0.27%	–
ATRO	New	ASTRONICS CORP	$1,795,000	–	49,914	–	0.25%	–
UPS	New	UNITED PARCEL SERVICE CL B	$1,581,000	–	14,881	–	0.22%	–
PG	New	PROCTER & GAMBLE	$1,570,000	–	20,109	–	0.22%	–
YUMC	New	YUM CHINA HOLDINGS	$1,269,000	–	33,000	–	0.18%	–
JNJ	New	JOHNSON & JOHNSON	$895,000	–	7,376	–	0.13%	–
YUM	New	YUM! BRANDS	$641,000	–	8,200	–	0.09%	–
HD	New	HOME DEPOT	$570,000	–	2,921	–	0.08%	–
UNP	New	UNION PACIFIC	$563,000	–	3,975	–	0.08%	–
IRMD	New	IRADIMED CORP	$550,000	–	26,500	–	0.08%	–
SLP	New	SIMULATIONS PLUS INC	$484,000	–	21,757	–	0.07%	–
CL	New	COLGATE-PALMOLIVE	$459,000	–	7,075	–	0.06%	–
CCNE	New	CNB FINANCIAL CORP	$445,000	–	14,800	–	0.06%	–
ORBC	New	ORBCOMM INC	$404,000	–	40,000	–	0.06%	–
FCBC	New	FIRST COMMUNITY BANCSHARES INC	$401,000	–	12,600	–	0.06%	–
INBK	New	FIRST INTERNET BANCORP	$372,000	–	10,911	–	0.05%	–
EPM	New	EVOLUTION PETROLEUM CORP	$361,000	–	36,637	–	0.05%	–
LBAI	New	LAKELAND BANCORP INC	$354,000	–	17,833	–	0.05%	–
DMRC	New	DIGIMARC CORP	$350,000	–	13,060	–	0.05%	–
UFAB	New	UNIQUE FABRICATING INC	$338,000	–	38,665	–	0.05%	–
PCYG	New	PARK CITY GROUP INC	$333,000	–	42,215	–	0.05%	–
SONA	New	SOUTHERN NATIONAL BANCORP VA	$321,000	–	18,000	–	0.04%	–
CZNC	New	CITIZENS & NORTHERN CORP	$323,000	–	12,500	–	0.04%	–
RVLT	New	REVOLUTION LIGHTING TECHNOLOGIES INC	$321,000	–	79,619	–	0.04%	–
GE	New	GENERAL ELECTRIC	$313,000	–	23,030	–	0.04%	–
BAX	New	BAXTER INTERNATIONAL	$310,000	–	4,192	–	0.04%	–
EMKR	New	EMCORE CORP	$309,000	–	61,193	–	0.04%	–
CPSI	New	COMPUTER PROGRAMS & SYSTEMS INC	$309,000	–	9,388	–	0.04%	–
JBSS	New	JOHN B SANFILIPPO & SON INC	$298,000	–	4,000	–	0.04%	–
O	New	REALTY INCOME	$293,000	–	5,438	–	0.04%	–
IDSY	New	ID SYSTEMS INC	$284,000	–	45,808	–	0.04%	–
PHX	New	PANHANDLE OIL & GAS INC	$282,000	–	14,776	–	0.04%	–
CHUY	New	CHUYS HOLDINGS INC	$276,000	–	9,000	–	0.04%	–
ADUS	New	ADDUS HOMECARE INC	$275,000	–	4,804	–	0.04%	–
DUK	New	DUKE ENERGY	$259,000	–	3,273	–	0.04%	–
PMD	New	PSYCHEMEDICS CORP	$248,000	–	12,902	–	0.04%	–
KIRK	New	KIRKLANDS INC	$247,000	–	21,177	–	0.04%	–
UMH	New	UMH PROPERTIES INC	$249,000	–	16,213	–	0.04%	–
HCKT	New	THE HACKETT GROUP	$241,000	–	15,000	–	0.03%	–
IBM	New	INTERNATIONAL BUSINESS MACHINES	$243,000	–	1,742	–	0.03%	–
BGFV	New	BIG 5 SPORTING GOODS CORP	$240,000	–	31,630	–	0.03%	–
NVS	New	NOVARTIS SPONSORED ADR	$242,000	–	3,200	–	0.03%	–
CWCO	New	CONSOLIDATED WATER CO	$232,000	–	18,000	–	0.03%	–
MO	New	ALTRIA GROUP	$233,000	–	4,099	–	0.03%	–
BOOM	New	DMC GLOBAL INC	$225,000	–	5,000	–	0.03%	–
GWRS	New	GLOBAL WATER RESOURCES CORP	$224,000	–	23,800	–	0.03%	–
AMGN	New	AMGEN	$204,000	–	1,105	–	0.03%	–
HAYN	New	HAYNES INTERNATIONAL INC	$202,000	–	5,500	–	0.03%	–
CTEK	New	CYNERGIS TEK INC	$184,000	–	46,600	–	0.03%	–
PFIE	New	PROFIRE ENERGY INC	$182,000	–	53,700	–	0.03%	–
FULT	New	FULTON FINANCIAL	$175,000	–	10,626	–	0.02%	–
GPX	New	GP STRATEGIES CORP	$176,000	–	10,000	–	0.02%	–
CNTY	New	CENTURY CASINOS INC	$175,000	–	20,000	–	0.02%	–
EAST	New	EASTSIDE DISTILLING INC	$170,000	–	19,994	–	0.02%	–
ASPU	New	ASPEN GROUP INC	$149,000	–	20,000	–	0.02%	–
REFR	New	RESEARCH FRONTIERS INC	$81,000	–	97,887	–	0.01%	–
	New	WALMART DE MEXICO SAB DE CV ORD	$28,000	–	10,520	–	0.00%	–

Q4 2017

			Value		Shares		↓ Weighting
	Exit	WALMART DE MEXICO SAB DE CV ORD	$0	–	-10,520	–	-0.00%	–
REFR	Exit	RESEARCH FRONTIERS INC	$0	–	-99,307	–	-0.02%	–
OESX	Exit	ORION ENERGY SYSTEMS INC	$0	–	-136,744	–	-0.02%	–
EMKR	Exit	EMCORE CORP	$0	–	-21,193	–	-0.03%	–
CSX	Exit	CSX	$0	–	-4,000	–	-0.03%	–
AGN	Exit	ALLERGAN	$0	–	-1,000	–	-0.03%	–
AMGN	Exit	AMGEN	$0	–	-1,105	–	-0.03%	–
TTE	Exit	TOTAL S A ADR	$0	–	-4,000	–	-0.03%	–
IDXX	Exit	IDEXX LABORATORIES	$0	–	-1,350	–	-0.03%	–
ORBC	Exit	ORBCOMM INC	$0	–	-20,000	–	-0.03%	–
PCYG	Exit	PARK CITY GROUP INC	$0	–	-18,215	–	-0.03%	–
GWRS	Exit	GLOBAL WATER RESOURCES CORP	$0	–	-23,800	–	-0.03%	–
EPM	Exit	EVOLUTION PETROLEUM CORP	$0	–	-31,637	–	-0.03%	–
INTC	Exit	INTEL	$0	–	-6,900	–	-0.03%	–
KMI	Exit	KINDER MORGAN	$0	–	-11,792	–	-0.03%	–
CECE	Exit	CECO ENVIRONMENTAL CORP	$0	–	-27,142	–	-0.04%	–
CWCO	Exit	CONSOLIDATED WATER CO	$0	–	-18,000	–	-0.04%	–
HAYN	Exit	HAYNES INTERNATIONAL INC	$0	–	-6,500	–	-0.04%	–
BGFV	Exit	BIG 5 SPORTING GOODS CORP	$0	–	-30,741	–	-0.04%	–
PMD	Exit	PSYCHEMEDICS CORP	$0	–	-12,902	–	-0.04%	–
AMZN	Exit	AMAZONCOM	$0	–	-250	–	-0.04%	–
UFAB	Exit	UNIQUE FABRICATING INC	$0	–	-28,171	–	-0.04%	–
USPH	Exit	US PHYSICAL THERAPY INC	$0	–	-3,900	–	-0.04%	–
MEET	Exit	THE MEET GROUP INC	$0	–	-65,000	–	-0.04%	–
KIRK	Exit	KIRKLANDS INC	$0	–	-21,177	–	-0.04%	–
DRAD	Exit	DIGIRAD CORP	$0	–	-70,217	–	-0.04%	–
IJH	Exit	ISHARES CORE S & P MIDCAP ETF	$0	–	-1,362	–	-0.04%	–
CHUY	Exit	CHUYS HOLDINGS INC	$0	–	-11,500	–	-0.04%	–
PLPM	Exit	PLANET PAYMENT INC	$0	–	-58,830	–	-0.04%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHINES	$0	–	-1,742	–	-0.04%	–
UMH	Exit	UMH PROPERTIES INC	$0	–	-16,213	–	-0.04%	–
DUK	Exit	DUKE ENERGY	$0	–	-3,040	–	-0.04%	–
BAX	Exit	BAXTER INTERNATIONAL	$0	–	-4,192	–	-0.04%	–
MO	Exit	ALTRIA GROUP	$0	–	-4,099	–	-0.04%	–
OXY	Exit	OCCIDENTAL PETROLEUM	$0	–	-4,050	–	-0.04%	–
BLK	Exit	BLACKROCK	$0	–	-600	–	-0.04%	–
NVS	Exit	NOVARTIS SPONSORED ADR	$0	–	-3,200	–	-0.04%	–
XLE	Exit	ENERGY SELECT SECTOR SPDR	$0	–	-4,000	–	-0.04%	–
CPSI	Exit	COMPUTER PROGRAMS & SYSTEMS INC	$0	–	-9,388	–	-0.04%	–
MCD	Exit	MCDONALDS	$0	–	-1,805	–	-0.04%	–
LDR	Exit	LANDAUER INC	$0	–	-4,300	–	-0.04%	–
SONA	Exit	SOUTHERN NATIONAL BANCORP VA	$0	–	-18,000	–	-0.05%	–
CZNC	Exit	CITIZENS & NORTHERN CORP	$0	–	-12,500	–	-0.05%	–
GLD	Exit	SPDR GOLD SHARES ETF	$0	–	-2,550	–	-0.05%	–
IRMD	Exit	IRADIMED CORP	$0	–	-33,000	–	-0.05%	–
O	Exit	REALTY INCOME	$0	–	-5,638	–	-0.05%	–
IDSY	Exit	ID SYSTEMS INC	$0	–	-45,808	–	-0.05%	–
INBK	Exit	FIRST INTERNET BANCORP	$0	–	-10,911	–	-0.05%	–
RVLT	Exit	REVOLUTION LIGHTING TECHNOLOGIES INC	$0	–	-54,619	–	-0.05%	–
LBAI	Exit	LAKELAND BANCORP INC	$0	–	-17,833	–	-0.06%	–
FCBC	Exit	FIRST COMMUNITY BANCSHARES INC	$0	–	-12,600	–	-0.06%	–
PHX	Exit	PANHANDLE OIL & GAS INC	$0	–	-17,376	–	-0.06%	–
CCNE	Exit	CNB FINANCIAL CORP	$0	–	-15,300	–	-0.06%	–
BRKB	Exit	BERKSHIRE HATHAWAY CL B	$0	–	-2,310	–	-0.06%	–
DOV	Exit	DOVER	$0	–	-4,706	–	-0.06%	–
UNP	Exit	UNION PACIFIC	$0	–	-4,045	–	-0.07%	–
DMRC	Exit	DIGIMARC CORP	$0	–	-13,060	–	-0.07%	–
IVV	Exit	ISHARES CORE S & P 500 ETF	$0	–	-1,925	–	-0.07%	–
SLP	Exit	SIMULATIONS PLUS INC	$0	–	-31,957	–	-0.08%	–
CL	Exit	COLGATEPALMOLIVE	$0	–	-7,100	–	-0.08%	–
KO	Exit	COCACOLA	$0	–	-11,632	–	-0.08%	–
HD	Exit	HOME DEPOT	$0	–	-3,765	–	-0.09%	–
CHKE	Exit	CHEROKEE INC	$0	–	-233,856	–	-0.10%	–
UPS	Exit	UNITED PARCEL SERVICE CL B	$0	–	-6,681	–	-0.12%	–
GE	Exit	GENERAL ELECTRIC	$0	–	-36,775	–	-0.13%	–
IJR	Exit	ISHARES CORE S & P SMALLCAP ETF	$0	–	-13,870	–	-0.16%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-9,096	–	-0.18%	–
FTK	Exit	FLOTEK INDUSTRIES INC	$0	–	-284,208	–	-0.20%	–
YUMC	Exit	YUM CHINA HOLDINGS	$0	–	-33,000	–	-0.20%	–
ATRO	Exit	ASTRONICS CORP	$0	–	-58,182	–	-0.26%	–
SEAC	Exit	SEACHANGE INTERNATIONAL INC	$0	–	-660,399	–	-0.27%	–
SFLY	Exit	SHUTTERFLY INC	$0	–	-38,356	–	-0.28%	–
VSS	Exit	VANGUARD FTSE ALLWORLD EXUS SMALLCAP ETF	$0	–	-17,309	–	-0.30%	–
PG	Exit	PROCTER & GAMBLE	$0	–	-21,924	–	-0.30%	–
MTDR	Exit	MATADOR RESOURCES CO	$0	–	-75,373	–	-0.31%	–
THRM	Exit	GENTHERM INC	$0	–	-55,620	–	-0.31%	–
NTRI	Exit	NUTRISYSTEM INC	$0	–	-38,183	–	-0.32%	–
IRBT	Exit	IROBOT CORP	$0	–	-27,699	–	-0.32%	–
MGRC	Exit	MCGRATH RENTCORP	$0	–	-51,357	–	-0.34%	–
NVEE	Exit	NV5 HOLDINGS INC	$0	–	-41,386	–	-0.34%	–
CAMP	Exit	CALAMP CORP	$0	–	-97,448	–	-0.34%	–
IMAX	Exit	IMAX CORP	$0	–	-100,250	–	-0.34%	–
RAVN	Exit	RAVEN INDUSTRIES INC	$0	–	-73,489	–	-0.36%	–
CRY	Exit	CRYOLIFE INC	$0	–	-106,223	–	-0.36%	–
SYY	Exit	SYSCO	$0	–	-45,000	–	-0.37%	–
YUM	Exit	YUM! BRANDS	$0	–	-33,000	–	-0.37%	–
BRKA	Exit	BERKSHIRE HATHAWAY CL A	$0	–	-9	–	-0.37%	–
TCAP	Exit	TRIANGLE CAPITAL CORP	$0	–	-174,118	–	-0.38%	–
FARM	Exit	FARMER BROTHERS CO	$0	–	-78,270	–	-0.39%	–
NVEC	Exit	NVE CORP	$0	–	-32,923	–	-0.39%	–
SFNC	Exit	SIMMONS FIRST NATIONAL CORP	$0	–	-47,850	–	-0.42%	–
NSP	Exit	INSPERITY INC	$0	–	-31,731	–	-0.42%	–
AXON	Exit	AXON ENTERPRISE INC	$0	–	-123,127	–	-0.42%	–
RTN	Exit	RAYTHEON	$0	–	-15,313	–	-0.43%	–
VIVO	Exit	MERIDIAN BIOSCIENCE INC	$0	–	-201,852	–	-0.44%	–
DWM	Exit	WISDOMTREE DEFA INDEX	$0	–	-55,145	–	-0.45%	–
LPSN	Exit	LIVEPERSON INC	$0	–	-223,107	–	-0.46%	–
ZIXI	Exit	ZIX CORP	$0	–	-621,728	–	-0.46%	–
ITW	Exit	ILLINOIS TOOL WORKS	$0	–	-20,700	–	-0.46%	–
MNR	Exit	MONMOUTH REAL ESTATE INVESTMENT CORP	$0	–	-193,688	–	-0.47%	–
AMN	Exit	AMN HEALTHCARE SERVICES INC	$0	–	-70,974	–	-0.49%	–
CCC	Exit	CALGON CARBON CORP	$0	–	-156,858	–	-0.51%	–
TREE	Exit	LENDING TREE INC	$0	–	-14,026	–	-0.52%	–
T	Exit	A T & T NEW	$0	–	-88,526	–	-0.52%	–
ADP	Exit	AUTOMATIC DATA PROCESSING	$0	–	-32,681	–	-0.54%	–
OMCL	Exit	OMNICELL INC	$0	–	-72,858	–	-0.56%	–
BOFI	Exit	BOFI HOLDING INC	$0	–	-135,502	–	-0.58%	–
EFA	Exit	ISHARES MSCI EAFE INDEX	$0	–	-58,845	–	-0.61%	–
ACN	Exit	ACCENTURE	$0	–	-30,000	–	-0.61%	–
CALD	Exit	CALLIDUS SOFTWARE INC	$0	–	-174,696	–	-0.65%	–
AVAV	Exit	AEROVIRONMENT INC	$0	–	-83,378	–	-0.68%	–
LLY	Exit	LILLY ELI	$0	–	-60,103	–	-0.77%	–
LMT	Exit	LOCKHEED MARTIN	$0	–	-16,853	–	-0.78%	–
SYK	Exit	STRYKER	$0	–	-37,768	–	-0.81%	–
LOW	Exit	LOWES	$0	–	-71,338	–	-0.86%	–
KMB	Exit	KIMBERLYCLARK	$0	–	-56,890	–	-1.01%	–
	Exit	PUBLIC STORAGE	$0	–	-31,288	–	-1.01%	–
ABBV	Exit	ABBVIE	$0	–	-77,336	–	-1.04%	–
SNA	Exit	SNAPON	$0	–	-46,381	–	-1.04%	–
CB	Exit	CHUBB	$0	–	-48,728	–	-1.05%	–
VWO	Exit	VANGUARD FTSE EMERGING MARKETS ETF	$0	–	-167,245	–	-1.10%	–
VZ	Exit	VERIZON COMMUNICATIONS	$0	–	-149,665	–	-1.12%	–
MIDD	Exit	MIDDLEBY	$0	–	-58,880	–	-1.14%	–
CVX	Exit	CHEVRON	$0	–	-66,085	–	-1.17%	–
WBA	Exit	WALGREENS BOOTS ALLIANCE	$0	–	-106,083	–	-1.24%	–
XRAY	Exit	DENTSPLY SIRONA	$0	–	-136,966	–	-1.24%	–
NKE	Exit	NIKE	$0	–	-158,856	–	-1.24%	–
SLB	Exit	SCHLUMBERGER	$0	–	-119,233	–	-1.26%	–
	Exit	ENERGEN	$0	–	-154,698	–	-1.28%	–
PFE	Exit	PFIZER	$0	–	-239,795	–	-1.29%	–
EMR	Exit	EMERSON ELECTRIC	$0	–	-136,462	–	-1.29%	–
ADBE	Exit	ADOBE SYSTEMS	$0	–	-57,520	–	-1.29%	–
MTB	Exit	M&T BANK CORP	$0	–	-56,150	–	-1.36%	–
TCO	Exit	TAUBMAN CENTERS REIT	$0	–	-189,188	–	-1.42%	–
PX	Exit	PRAXAIR	$0	–	-67,583	–	-1.42%	–
SBUX	Exit	STARBUCKS	$0	–	-183,118	–	-1.48%	–
COST	Exit	COSTCO WHOLESALE	$0	–	-60,090	–	-1.49%	–
MRK	Exit	MERCK	$0	–	-155,479	–	-1.50%	–
MMM	Exit	3M	$0	–	-47,585	–	-1.51%	–
BDX	Exit	BECTON DICKINSON	$0	–	-51,037	–	-1.51%	–
ABT	Exit	ABBOTT LABORATORIES	$0	–	-194,860	–	-1.57%	–
DIS	Exit	DISNEY WALT	$0	–	-108,583	–	-1.61%	–
UTX	Exit	UNITED TECHNOLOGIES	$0	–	-94,767	–	-1.66%	–
PAG	Exit	PENSKE AUTOMOTIVE GROUP	$0	–	-233,804	–	-1.68%	–
PNC	Exit	PNC FINANCIAL SERVICES GROUP	$0	–	-85,019	–	-1.73%	–
SWKS	Exit	SKYWORKS SOLUTIONS	$0	–	-115,823	–	-1.78%	–
JPM	Exit	JPMORGAN CHASE	$0	–	-123,727	–	-1.78%	–
CSCO	Exit	CISCO SYSTEMS	$0	–	-375,072	–	-1.90%	–
DWDP	Exit	DOWDUPONT	$0	–	-182,492	–	-1.91%	–
MSFT	Exit	MICROSOFT	$0	–	-184,468	–	-2.07%	–
XOM	Exit	EXXONMOBIL	$0	–	-176,525	–	-2.18%	–
WFC	Exit	WELLS FARGO	$0	–	-272,468	–	-2.27%	–
AAPL	Exit	APPLE	$0	–	-100,826	–	-2.34%	–
TYL	Exit	TYLER TECHNOLOGIES	$0	–	-93,486	–	-2.46%	–
IWM	Exit	ISHARES RUSSELL 2000 INDEX	$0	–	-150,720	–	-3.37%	–
PEP	Exit	PEPSICO	$0	–	-256,824	–	-4.31%	–
SPY	Exit	SPDR S & P 500 INDEX	$0	–	-242,150	–	-9.18%	–

Q3 2017

			Value		Shares		↓ Weighting
SPY	Buy	SPDR S & P 500 INDEX	$60,835,000	+7.0%	242,150	+3.0%	9.18%	+2.6%
PEP	Buy	PEPSICO	$28,596,000	-1.1%	256,824	+2.6%	4.31%	-5.1%
IWM	Buy	ISHARES RUSSELL 2000 INDEX	$22,334,000	+5.9%	150,720	+0.7%	3.37%	+1.5%
TYL	Buy	TYLER TECHNOLOGIES	$16,296,000	+1.2%	93,486	+2.0%	2.46%	-2.9%
AAPL	Buy	APPLE	$15,524,000	+43.3%	100,826	+34.1%	2.34%	+37.4%
WFC	Buy	WELLS FARGO	$15,027,000	+1.8%	272,468	+2.3%	2.27%	-2.4%
XOM	Buy	EXXONMOBIL	$14,463,000	+2.2%	176,525	+0.7%	2.18%	-2.1%
MSFT	Buy	MICROSOFT	$13,696,000	+10.8%	184,468	+2.8%	2.07%	+6.2%
DWDP	New	DOWDUPONT	$12,634,000	–	182,492	–	1.91%	–
CSCO	Buy	CISCO SYSTEMS	$12,600,000	+11.0%	375,072	+3.5%	1.90%	+6.4%
JPM	Buy	JPMORGAN CHASE	$11,798,000	+11.4%	123,727	+6.8%	1.78%	+6.8%
SWKS	Buy	SKYWORKS SOLUTIONS	$11,802,000	+11.5%	115,823	+5.0%	1.78%	+6.9%
PNC	Buy	PNC FINANCIAL SERVICES GROUP	$11,458,000	+13.5%	85,019	+5.1%	1.73%	+8.8%
PAG	Buy	PENSKE AUTOMOTIVE GROUP	$11,122,000	+36.5%	233,804	+26.0%	1.68%	+30.9%
UTX	Buy	UNITED TECHNOLOGIES	$11,001,000	+13.1%	94,767	+19.0%	1.66%	+8.4%
DIS	Buy	DISNEY WALT	$10,673,000	-3.5%	108,583	+4.3%	1.61%	-7.4%
ABT	Sell	ABBOTT LABORATORIES	$10,398,000	+4.1%	194,860	-5.2%	1.57%	-0.2%
BDX	Buy	BECTON DICKINSON	$10,001,000	+3.6%	51,037	+3.1%	1.51%	-0.7%
MMM	Buy	3M	$9,988,000	+8.5%	47,585	+7.6%	1.51%	+4.1%
MRK	Buy	MERCK	$9,936,000	+1.7%	155,479	+2.0%	1.50%	-2.5%
COST	Buy	COSTCO WHOLESALE	$9,856,000	+29.1%	60,090	+25.9%	1.49%	+23.8%
SBUX	Buy	STARBUCKS	$9,835,000	-6.3%	183,118	+1.7%	1.48%	-10.2%
PX	Buy	PRAXAIR	$9,444,000	+8.0%	67,583	+2.5%	1.42%	+3.6%
TCO	New	TAUBMAN CENTERS REIT	$9,403,000	–	189,188	–	1.42%	–
MTB	Buy	M&T BANK CORP	$9,042,000	+1.6%	56,150	+2.2%	1.36%	-2.6%
ADBE	Sell	ADOBE SYSTEMS	$8,581,000	+3.5%	57,520	-1.9%	1.29%	-0.8%
EMR	Buy	EMERSON ELECTRIC	$8,575,000	+8.5%	136,462	+2.9%	1.29%	+4.0%
PFE	Buy	PFIZER	$8,561,000	+8.2%	239,795	+1.8%	1.29%	+3.8%
	Buy	ENERGEN	$8,459,000	+12.2%	154,698	+1.3%	1.28%	+7.6%
SLB	Buy	SCHLUMBERGER	$8,318,000	+8.7%	119,233	+2.6%	1.26%	+4.2%
NKE	Buy	NIKE	$8,226,000	-8.3%	158,856	+4.5%	1.24%	-12.0%
WBA	Buy	WALGREENS BOOTS ALLIANCE	$8,192,000	+0.5%	106,083	+2.0%	1.24%	-3.6%
XRAY	Buy	DENTSPLY SIRONA	$8,192,000	-7.3%	136,966	+0.5%	1.24%	-11.1%
CVX	Buy	CHEVRON	$7,765,000	+20.9%	66,085	+7.4%	1.17%	+15.9%
MIDD	Buy	MIDDLEBY	$7,547,000	+13.6%	58,880	+7.7%	1.14%	+8.9%
VZ	Buy	VERIZON COMMUNICATIONS	$7,407,000	+13.3%	149,665	+2.2%	1.12%	+8.7%
VWO	Buy	VANGUARD FTSE EMERGING MARKETS ETF	$7,287,000	+8.0%	167,245	+1.2%	1.10%	+3.6%
CB	Sell	CHUBB	$6,946,000	-40.1%	48,728	-38.9%	1.05%	-42.5%
SNA	Buy	SNAPON	$6,911,000	-2.6%	46,381	+3.3%	1.04%	-6.6%
ABBV	Sell	ABBVIE	$6,872,000	-32.9%	77,336	-45.3%	1.04%	-35.6%
KMB	Buy	KIMBERLYCLARK	$6,695,000	-3.9%	56,890	+5.4%	1.01%	-7.8%
	Buy	PUBLIC STORAGE	$6,695,000	+3.2%	31,288	+0.6%	1.01%	-1.0%
LOW	Buy	LOWES	$5,703,000	+5.7%	71,338	+2.5%	0.86%	+1.3%
SYK	Buy	STRYKER	$5,364,000	+3.8%	37,768	+1.4%	0.81%	-0.5%
LMT	Sell	LOCKHEED MARTIN	$5,198,000	-40.0%	16,853	-46.0%	0.78%	-42.5%
LLY	Buy	LILLY ELI	$5,124,000	+7.2%	60,103	+3.5%	0.77%	+2.8%
AVAV	Sell	AEROVIRONMENT INC	$4,512,000	+38.4%	83,378	-2.3%	0.68%	+32.7%
CALD	Sell	CALLIDUS SOFTWARE INC	$4,306,000	-1.7%	174,696	-3.5%	0.65%	-5.8%
EFA	Buy	ISHARES MSCI EAFE INDEX	$4,030,000	+12.9%	58,845	+7.5%	0.61%	+8.4%
BOFI	Sell	BOFI HOLDING INC	$3,858,000	+19.4%	135,502	-0.6%	0.58%	+14.6%
OMCL	Sell	OMNICELL INC	$3,719,000	+15.8%	72,858	-2.2%	0.56%	+11.1%
ADP	Sell	AUTOMATIC DATA PROCESSING	$3,573,000	+4.2%	32,681	-2.4%	0.54%	0.0%
T	Sell	A T & T NEW	$3,452,000	+1.9%	88,526	-1.4%	0.52%	-2.3%
TREE	Sell	LENDING TREE INC	$3,429,000	-0.9%	14,026	-30.2%	0.52%	-5.0%
CCC	Sell	CALGON CARBON CORP	$3,357,000	+39.7%	156,858	-1.4%	0.51%	+33.9%
AMN	Sell	AMN HEALTHCARE SERVICES INC	$3,244,000	+15.0%	70,974	-1.7%	0.49%	+10.1%
MNR	Sell	MONMOUTH REAL ESTATE INVESTMENT CORP	$3,136,000	+5.3%	193,688	-2.1%	0.47%	+0.9%
ZIXI	Sell	ZIX CORP	$3,040,000	-15.5%	621,728	-1.7%	0.46%	-18.9%
LPSN	Sell	LIVEPERSON INC	$3,023,000	-9.7%	223,107	-26.7%	0.46%	-13.5%
DWM	Sell	WISDOMTREE DEFA INDEX	$3,003,000	+4.9%	55,145	-0.0%	0.45%	+0.7%
VIVO	Sell	MERIDIAN BIOSCIENCE INC	$2,886,000	-10.5%	201,852	-1.4%	0.44%	-14.2%
RTN	Sell	RAYTHEON	$2,857,000	-68.3%	15,313	-72.6%	0.43%	-69.6%
AXON	Buy	AXON ENTERPRISE INC	$2,791,000	+28.4%	123,127	+42.4%	0.42%	+23.1%
NSP	Sell	INSPERITY INC	$2,792,000	+21.5%	31,731	-2.0%	0.42%	+16.6%
SFNC	Sell	SIMMONS FIRST NATIONAL CORP	$2,771,000	+8.5%	47,850	-0.8%	0.42%	+4.0%
NVEC	Sell	NVE CORP	$2,600,000	-0.5%	32,923	-2.9%	0.39%	-4.6%
FARM	Sell	FARMER BROTHERS CO	$2,571,000	+6.7%	78,270	-1.7%	0.39%	+2.4%
TCAP	Buy	TRIANGLE CAPITAL CORP	$2,486,000	+21.0%	174,118	+49.3%	0.38%	+16.1%
SYY	Sell	SYSCO	$2,428,000	+5.3%	45,000	-1.7%	0.37%	+0.8%
CRY	Sell	CRYOLIFE INC	$2,411,000	+11.0%	106,223	-2.5%	0.36%	+6.4%
RAVN	Sell	RAVEN INDUSTRIES INC	$2,381,000	-4.8%	73,489	-2.2%	0.36%	-8.9%
IMAX	Buy	IMAX CORP	$2,271,000	+4.4%	100,250	+1.4%	0.34%	+0.3%
CAMP	Sell	CALAMP CORP	$2,266,000	+12.2%	97,448	-1.9%	0.34%	+7.5%
NVEE	Sell	NV5 HOLDINGS INC	$2,262,000	+22.0%	41,386	-5.1%	0.34%	+16.8%
MGRC	Sell	MCGRATH RENTCORP	$2,247,000	+24.1%	51,357	-1.8%	0.34%	+18.9%
IRBT	Sell	IROBOT CORP	$2,134,000	-9.2%	27,699	-0.9%	0.32%	-13.0%
NTRI	Sell	NUTRISYSTEM INC	$2,134,000	-22.4%	38,183	-27.8%	0.32%	-25.6%
THRM	Sell	GENTHERM INC	$2,066,000	-5.7%	55,620	-1.5%	0.31%	-9.6%
MTDR	Sell	MATADOR RESOURCES CO	$2,046,000	+24.5%	75,373	-2.0%	0.31%	+19.8%
VSS	Buy	VANGUARD FTSE ALLWORLD EXUS SMALLCAP ETF	$1,989,000	+7.5%	17,309	+1.2%	0.30%	+3.1%
PG	Sell	PROCTER & GAMBLE	$1,986,000	+1.8%	21,924	-2.0%	0.30%	-2.3%
SFLY	Sell	SHUTTERFLY INC	$1,859,000	+0.9%	38,356	-1.2%	0.28%	-3.4%
SEAC	Sell	SEACHANGE INTERNATIONAL INC	$1,809,000	+1.6%	660,399	-1.3%	0.27%	-2.5%
ATRO	Sell	ASTRONICS CORP	$1,731,000	-2.8%	58,182	-0.5%	0.26%	-6.8%
FTK	New	FLOTEK INDUSTRIES INC	$1,322,000	–	284,208	–	0.20%	–
JNJ	Sell	JOHNSON & JOHNSON	$1,157,000	-14.3%	9,096	-10.8%	0.18%	-17.5%
GE	Buy	GENERAL ELECTRIC	$889,000	-5.6%	36,775	+5.4%	0.13%	-9.5%
CHKE	Buy	CHEROKEE INC	$643,000	-58.1%	233,856	+6.0%	0.10%	-59.8%
KO	Buy	COCACOLA	$524,000	+18.0%	11,632	+17.5%	0.08%	+12.9%
CL	Buy	COLGATEPALMOLIVE	$517,000	-0.2%	7,100	+1.6%	0.08%	-3.7%
IVV	Sell	ISHARES CORE S & P 500 ETF	$487,000	+2.5%	1,925	-1.3%	0.07%	-2.7%
DMRC	Buy	DIGIMARC CORP	$478,000	+3.5%	13,060	+13.6%	0.07%	-1.4%
UNP	Sell	UNION PACIFIC	$446,000	-1.5%	4,045	-2.6%	0.07%	-5.6%
DOV	Sell	DOVER	$430,000	+8.9%	4,706	-4.5%	0.06%	+4.8%
RVLT	Buy	REVOLUTION LIGHTING TECHNOLOGIES INC	$355,000	+20.7%	54,619	+22.4%	0.05%	+17.4%
MCD	New	MCDONALDS	$283,000	–	1,805	–	0.04%	–
XLE	New	ENERGY SELECT SECTOR SPDR	$274,000	–	4,000	–	0.04%	–
NVS	Sell	NOVARTIS SPONSORED ADR	$275,000	-3.2%	3,200	-5.9%	0.04%	-8.9%
PLPM	Buy	PLANET PAYMENT INC	$252,000	+90.9%	58,830	+47.1%	0.04%	+81.0%
BAX	Buy	BAXTER INTERNATIONAL	$250,000	+3.3%	4,192	+5.0%	0.04%	0.0%
KIRK	Buy	KIRKLANDS INC	$242,000	+29.4%	21,177	+16.5%	0.04%	+27.6%
IJH	Sell	ISHARES CORE S & P MIDCAP ETF	$244,000	+1.2%	1,362	-1.8%	0.04%	-2.6%
CHUY	Buy	CHUYS HOLDINGS INC	$242,000	+14.7%	11,500	+27.8%	0.04%	+12.1%
DRAD	Buy	DIGIRAD CORP	$242,000	+30.8%	70,217	+53.4%	0.04%	+27.6%
UFAB	Buy	UNIQUE FABRICATING INC	$238,000	+13.9%	28,171	+28.0%	0.04%	+9.1%
PMD	Buy	PSYCHEMEDICS CORP	$238,000	-19.9%	12,902	+8.4%	0.04%	-23.4%
CWCO	Sell	CONSOLIDATED WATER CO	$230,000	-2.5%	18,000	-5.3%	0.04%	-5.4%
HAYN	New	HAYNES INTERNATIONAL INC	$233,000	–	6,500	–	0.04%	–
CECE	Buy	CECO ENVIRONMENTAL CORP	$230,000	+66.7%	27,142	+80.9%	0.04%	+59.1%
BGFV	Buy	BIG 5 SPORTING GOODS CORP	$235,000	+10.8%	30,741	+89.3%	0.04%	+6.1%
GWRS	Sell	GLOBAL WATER RESOURCES CORP	$224,000	-9.7%	23,800	-4.8%	0.03%	-12.8%
INTC	New	INTEL	$228,000	–	6,900	–	0.03%	–
PCYG	Buy	PARK CITY GROUP INC	$221,000	+79.7%	18,215	+80.3%	0.03%	+73.7%
TTE	Sell	TOTAL S A ADR	$214,000	+1.4%	4,000	-5.9%	0.03%	-3.0%
IDXX	Sell	IDEXX LABORATORIES	$210,000	-44.6%	1,350	-42.6%	0.03%	-46.7%
AMGN	New	AMGEN	$206,000	–	1,105	–	0.03%	–
CSX	New	CSX	$201,000	–	4,000	–	0.03%	–
EMKR	New	EMCORE CORP	$174,000	–	21,193	–	0.03%	–
OESX	Sell	ORION ENERGY SYSTEMS INC	$153,000	-30.8%	136,744	-20.9%	0.02%	-34.3%
REFR	Sell	RESEARCH FRONTIERS INC	$118,000	-26.2%	99,307	-20.0%	0.02%	-28.0%
AHH	Exit	ARMADA HOFFLER PROPERTIES INC	$0	–	-14,740	–	-0.03%	–
INTU	Exit	INTUIT	$0	–	-2,200	–	-0.05%	–
ACETQ	Exit	ACETO CORP	$0	–	-107,450	–	-0.26%	–
QCOM	Exit	QUALCOMM	$0	–	-73,995	–	-0.64%	–
DD	Exit	DUPONT DE NEMOURS	$0	–	-139,578	–	-1.77%	–

Q2 2017

			Value		Shares		↓ Weighting
SPY	New	SPDR S & P 500 INDEX	$56,859,000	–	235,150	–	8.94%	–
PEP	New	PEPSICO	$28,906,000	–	250,289	–	4.55%	–
IWM	New	ISHARES RUSSELL 2000 INDEX	$21,099,000	–	149,720	–	3.32%	–
TYL	New	TYLER TECHNOLOGIES	$16,098,000	–	91,639	–	2.53%	–
WFC	New	WELLS FARGO	$14,763,000	–	266,438	–	2.32%	–
XOM	New	EXXONMOBIL	$14,158,000	–	175,379	–	2.23%	–
MSFT	New	MICROSOFT	$12,366,000	–	179,398	–	1.94%	–
CB	New	CHUBB	$11,587,000	–	79,698	–	1.82%	–
CSCO	New	CISCO SYSTEMS	$11,348,000	–	362,542	–	1.78%	–
DD	New	DUPONT DE NEMOURS	$11,265,000	–	139,578	–	1.77%	–
DIS	New	DISNEY WALT	$11,058,000	–	104,078	–	1.74%	–
AAPL	New	APPLE	$10,832,000	–	75,213	–	1.70%	–
JPM	New	JPMORGAN CHASE	$10,593,000	–	115,893	–	1.67%	–
SWKS	New	SKYWORKS SOLUTIONS	$10,587,000	–	110,338	–	1.66%	–
SBUX	New	STARBUCKS	$10,500,000	–	180,078	–	1.65%	–
ABBV	New	ABBVIE	$10,244,000	–	141,271	–	1.61%	–
PNC	New	PNC FINANCIAL SERVICES GROUP	$10,099,000	–	80,879	–	1.59%	–
ABT	New	ABBOTT LABORATORIES	$9,989,000	–	205,490	–	1.57%	–
MRK	New	MERCK	$9,771,000	–	152,453	–	1.54%	–
UTX	New	UNITED TECHNOLOGIES	$9,728,000	–	79,664	–	1.53%	–
BDX	New	BECTON DICKINSON	$9,658,000	–	49,499	–	1.52%	–
MMM	New	3M	$9,207,000	–	44,225	–	1.45%	–
RTN	New	RAYTHEON	$9,013,000	–	55,813	–	1.42%	–
NKE	New	NIKE	$8,972,000	–	152,072	–	1.41%	–
MTB	New	M&T BANK CORP	$8,900,000	–	54,954	–	1.40%	–
XRAY	New	DENTSPLY SIRONA	$8,836,000	–	136,271	–	1.39%	–
PX	New	PRAXAIR	$8,741,000	–	65,948	–	1.38%	–
LMT	New	LOCKHEED MARTIN	$8,669,000	–	31,228	–	1.36%	–
ADBE	New	ADOBE SYSTEMS	$8,290,000	–	58,610	–	1.30%	–
PAG	New	PENSKE AUTOMOTIVE GROUP	$8,148,000	–	185,569	–	1.28%	–
WBA	New	WALGREENS BOOTS ALLIANCE	$8,148,000	–	104,053	–	1.28%	–
PFE	New	PFIZER	$7,910,000	–	235,476	–	1.24%	–
EMR	New	EMERSON ELECTRIC	$7,904,000	–	132,572	–	1.24%	–
SLB	New	SCHLUMBERGER	$7,652,000	–	116,223	–	1.20%	–
COST	New	COSTCO WHOLESALE	$7,636,000	–	47,745	–	1.20%	–
	New	ENERGEN	$7,542,000	–	152,773	–	1.19%	–
SNA	New	SNAPON	$7,098,000	–	44,921	–	1.12%	–
KMB	New	KIMBERLYCLARK	$6,969,000	–	53,980	–	1.10%	–
VWO	New	VANGUARD FTSE EMERGING MARKETS ETF	$6,745,000	–	165,195	–	1.06%	–
MIDD	New	MIDDLEBY	$6,641,000	–	54,650	–	1.04%	–
VZ	New	VERIZON COMMUNICATIONS	$6,539,000	–	146,413	–	1.03%	–
	New	PUBLIC STORAGE	$6,486,000	–	31,103	–	1.02%	–
CVX	New	CHEVRON	$6,422,000	–	61,555	–	1.01%	–
LOW	New	LOWES	$5,397,000	–	69,610	–	0.85%	–
SYK	New	STRYKER	$5,169,000	–	37,248	–	0.81%	–
LLY	New	LILLY ELI	$4,780,000	–	58,078	–	0.75%	–
CALD	New	CALLIDUS SOFTWARE INC	$4,380,000	–	181,001	–	0.69%	–
QCOM	New	QUALCOMM	$4,086,000	–	73,995	–	0.64%	–
ACN	New	ACCENTURE	$3,710,000	–	30,000	–	0.58%	–
ZIXI	New	ZIX CORP	$3,597,000	–	632,187	–	0.57%	–
EFA	New	ISHARES MSCI EAFE INDEX	$3,568,000	–	54,725	–	0.56%	–
TREE	New	LENDING TREE INC	$3,461,000	–	20,097	–	0.54%	–
ADP	New	AUTOMATIC DATA PROCESSING	$3,430,000	–	33,481	–	0.54%	–
T	New	A T & T NEW	$3,386,000	–	89,741	–	0.53%	–
LPSN	New	LIVEPERSON INC	$3,348,000	–	304,390	–	0.53%	–
AVAV	New	AEROVIRONMENT INC	$3,261,000	–	85,367	–	0.51%	–
BOFI	New	BOFI HOLDING INC	$3,232,000	–	136,274	–	0.51%	–
VIVO	New	MERIDIAN BIOSCIENCE INC	$3,225,000	–	204,784	–	0.51%	–
OMCL	New	OMNICELL INC	$3,211,000	–	74,500	–	0.50%	–
MNR	New	MONMOUTH REAL ESTATE INVESTMENT CORP	$2,979,000	–	197,907	–	0.47%	–
ITW	New	ILLINOIS TOOL WORKS	$2,965,000	–	20,700	–	0.47%	–
DWM	New	WISDOMTREE DEFA INDEX	$2,863,000	–	55,170	–	0.45%	–
AMN	New	AMN HEALTHCARE SERVICES INC	$2,820,000	–	72,211	–	0.44%	–
NTRI	New	NUTRISYSTEM INC	$2,751,000	–	52,850	–	0.43%	–
NVEC	New	NVE CORP	$2,612,000	–	33,920	–	0.41%	–
SFNC	New	SIMMONS FIRST NATIONAL CORP	$2,553,000	–	48,259	–	0.40%	–
RAVN	New	RAVEN INDUSTRIES INC	$2,502,000	–	75,141	–	0.39%	–
YUM	New	YUM! BRANDS	$2,434,000	–	33,000	–	0.38%	–
FARM	New	FARMER BROTHERS CO	$2,409,000	–	79,620	–	0.38%	–
CCC	New	CALGON CARBON CORP	$2,403,000	–	159,161	–	0.38%	–
IRBT	New	IROBOT CORP	$2,351,000	–	27,946	–	0.37%	–
SYY	New	SYSCO	$2,305,000	–	45,792	–	0.36%	–
NSP	New	INSPERITY INC	$2,298,000	–	32,371	–	0.36%	–
BRKA	New	BERKSHIRE HATHAWAY CL A	$2,292,000	–	9	–	0.36%	–
THRM	New	GENTHERM INC	$2,191,000	–	56,457	–	0.34%	–
IMAX	New	IMAX CORP	$2,175,000	–	98,852	–	0.34%	–
CRY	New	CRYOLIFE INC	$2,173,000	–	108,907	–	0.34%	–
AXON	New	AXON ENTERPRISE INC	$2,173,000	–	86,451	–	0.34%	–
TCAP	New	TRIANGLE CAPITAL CORP	$2,055,000	–	116,606	–	0.32%	–
CAMP	New	CALAMP CORP	$2,020,000	–	99,366	–	0.32%	–
PG	New	PROCTER & GAMBLE	$1,950,000	–	22,374	–	0.31%	–
NVEE	New	NV5 HOLDINGS INC	$1,854,000	–	43,612	–	0.29%	–
VSS	New	VANGUARD FTSE ALLWORLD EXUS SMALLCAP ETF	$1,850,000	–	17,109	–	0.29%	–
SFLY	New	SHUTTERFLY INC	$1,843,000	–	38,806	–	0.29%	–
MGRC	New	MCGRATH RENTCORP	$1,811,000	–	52,287	–	0.28%	–
SEAC	New	SEACHANGE INTERNATIONAL INC	$1,780,000	–	669,237	–	0.28%	–
ATRO	New	ASTRONICS CORP	$1,781,000	–	58,465	–	0.28%	–
ACETQ	New	ACETO CORP	$1,660,000	–	107,450	–	0.26%	–
MTDR	New	MATADOR RESOURCES CO	$1,643,000	–	76,883	–	0.26%	–
CHKE	New	CHEROKEE INC	$1,533,000	–	220,646	–	0.24%	–
JNJ	New	JOHNSON & JOHNSON	$1,350,000	–	10,202	–	0.21%	–
YUMC	New	YUM CHINA HOLDINGS	$1,301,000	–	33,000	–	0.20%	–
IJR	New	ISHARES CORE S & P SMALLCAP ETF	$972,000	–	13,870	–	0.15%	–
GE	New	GENERAL ELECTRIC	$942,000	–	34,875	–	0.15%	–
UPS	New	UNITED PARCEL SERVICE CL B	$739,000	–	6,681	–	0.12%	–
HD	New	HOME DEPOT	$578,000	–	3,765	–	0.09%	–
CL	New	COLGATEPALMOLIVE	$518,000	–	6,990	–	0.08%	–
IVV	New	ISHARES CORE S & P 500 ETF	$475,000	–	1,950	–	0.08%	–
DMRC	New	DIGIMARC CORP	$462,000	–	11,500	–	0.07%	–
UNP	New	UNION PACIFIC	$453,000	–	4,155	–	0.07%	–
KO	New	COCACOLA	$444,000	–	9,900	–	0.07%	–
PHX	New	PANHANDLE OIL & GAS INC	$401,000	–	17,376	–	0.06%	–
DOV	New	DOVER	$395,000	–	4,926	–	0.06%	–
SLP	New	SIMULATIONS PLUS INC	$395,000	–	31,957	–	0.06%	–
BRKB	New	BERKSHIRE HATHAWAY CL B	$391,000	–	2,310	–	0.06%	–
IDXX	New	IDEXX LABORATORIES	$379,000	–	2,350	–	0.06%	–
CCNE	New	CNB FINANCIAL CORP	$367,000	–	15,300	–	0.06%	–
FCBC	New	FIRST COMMUNITY BANCSHARES INC	$345,000	–	12,600	–	0.05%	–
LBAI	New	LAKELAND BANCORP INC	$336,000	–	17,833	–	0.05%	–
MEET	New	THE MEET GROUP INC	$328,000	–	65,000	–	0.05%	–
SONA	New	SOUTHERN NATIONAL BANCORP VA	$317,000	–	18,000	–	0.05%	–
O	New	REALTY INCOME	$311,000	–	5,638	–	0.05%	–
MO	New	ALTRIA GROUP	$305,000	–	4,099	–	0.05%	–
CPSI	New	COMPUTER PROGRAMS & SYSTEMS INC	$308,000	–	9,388	–	0.05%	–
INBK	New	FIRST INTERNET BANCORP	$306,000	–	10,911	–	0.05%	–
PMD	New	PSYCHEMEDICS CORP	$297,000	–	11,902	–	0.05%	–
GLD	New	SPDR GOLD SHARES ETF	$301,000	–	2,550	–	0.05%	–
CZNC	New	CITIZENS & NORTHERN CORP	$291,000	–	12,500	–	0.05%	–
RVLT	New	REVOLUTION LIGHTING TECHNOLOGIES INC	$294,000	–	44,619	–	0.05%	–
INTU	New	INTUIT	$292,000	–	2,200	–	0.05%	–
IRMD	New	IRADIMED CORP	$284,000	–	33,000	–	0.04%	–
NVS	New	NOVARTIS SPONSORED ADR	$284,000	–	3,400	–	0.04%	–
IDSY	New	ID SYSTEMS INC	$281,000	–	45,808	–	0.04%	–
UMH	New	UMH PROPERTIES INC	$276,000	–	16,213	–	0.04%	–
IBM	New	INTERNATIONAL BUSINESS MACHINES	$268,000	–	1,742	–	0.04%	–
EPM	New	EVOLUTION PETROLEUM CORP	$256,000	–	31,637	–	0.04%	–
DUK	New	DUKE ENERGY	$254,000	–	3,040	–	0.04%	–
BLK	New	BLACKROCK	$253,000	–	600	–	0.04%	–
GWRS	New	GLOBAL WATER RESOURCES CORP	$248,000	–	25,000	–	0.04%	–
AGN	New	ALLERGAN	$243,000	–	1,000	–	0.04%	–
IJH	New	ISHARES CORE S & P MIDCAP ETF	$241,000	–	1,387	–	0.04%	–
OXY	New	OCCIDENTAL PETROLEUM	$242,000	–	4,050	–	0.04%	–
AMZN	New	AMAZONCOM	$242,000	–	250	–	0.04%	–
BAX	New	BAXTER INTERNATIONAL	$242,000	–	3,992	–	0.04%	–
USPH	New	US PHYSICAL THERAPY INC	$236,000	–	3,900	–	0.04%	–
CWCO	New	CONSOLIDATED WATER CO	$236,000	–	19,000	–	0.04%	–
KMI	New	KINDER MORGAN	$226,000	–	11,792	–	0.04%	–
ORBC	New	ORBCOMM INC	$226,000	–	20,000	–	0.04%	–
LDR	New	LANDAUER INC	$225,000	–	4,300	–	0.04%	–
OESX	New	ORION ENERGY SYSTEMS INC	$221,000	–	172,834	–	0.04%	–
CHUY	New	CHUYS HOLDINGS INC	$211,000	–	9,000	–	0.03%	–
UFAB	New	UNIQUE FABRICATING INC	$209,000	–	22,000	–	0.03%	–
BGFV	New	BIG 5 SPORTING GOODS CORP	$212,000	–	16,236	–	0.03%	–
TTE	New	TOTAL S A ADR	$211,000	–	4,250	–	0.03%	–
AHH	New	ARMADA HOFFLER PROPERTIES INC	$191,000	–	14,740	–	0.03%	–
KIRK	New	KIRKLANDS INC	$187,000	–	18,177	–	0.03%	–
DRAD	New	DIGIRAD CORP	$185,000	–	45,784	–	0.03%	–
REFR	New	RESEARCH FRONTIERS INC	$160,000	–	124,146	–	0.02%	–
CECE	New	CECO ENVIRONMENTAL CORP	$138,000	–	15,000	–	0.02%	–
PLPM	New	PLANET PAYMENT INC	$132,000	–	40,000	–	0.02%	–
PCYG	New	PARK CITY GROUP INC	$123,000	–	10,104	–	0.02%	–
	New	WALMART DE MEXICO SAB DE CV ORD	$24,000	–	10,520	–	0.00%	–

Q4 2016

			Value		Shares		↓ Weighting
	Exit	WALMART DE MEXICO SAB DE CV ORD	$0	–	-10,520	–	-0.00%	–
DSCI	Exit	DERMA SCIENCES INC	$0	–	-17,300	–	-0.01%	–
SMRTQ	Exit	STEIN MART INC	$0	–	-24,700	–	-0.03%	–
CHKE	Exit	CHEROKEE INC	$0	–	-16,038	–	-0.03%	–
CECE	Exit	CECO ENVIRONMENTAL CORP	$0	–	-15,000	–	-0.03%	–
EPM	Exit	EVOLUTION PETROLEUM CORP	$0	–	-30,000	–	-0.03%	–
RMCF	Exit	ROCKY MOUNTAIN CHOCOLATE FACTORY INC	$0	–	-18,200	–	-0.03%	–
REFR	Exit	RESEARCH FRONTIERS INC	$0	–	-74,447	–	-0.03%	–
APC	Exit	ANADARKO PETROLEUM	$0	–	-3,200	–	-0.04%	–
TTE	Exit	TOTAL S A ADR	$0	–	-4,250	–	-0.04%	–
DPS	Exit	DR PEPPER SNAPPLE GROUP	$0	–	-2,200	–	-0.04%	–
GWRS	Exit	GLOBAL WATER RESOURCES CORP	$0	–	-25,000	–	-0.04%	–
BLK	Exit	BLACKROCK	$0	–	-568	–	-0.04%	–
ORBC	Exit	ORBCOMM INC	$0	–	-20,000	–	-0.04%	–
AMZN	Exit	AMAZONCOM	$0	–	-250	–	-0.04%	–
OESX	Exit	ORION ENERGY SYSTEMS INC	$0	–	-162,834	–	-0.04%	–
MEET	Exit	MEETME INC	$0	–	-35,000	–	-0.04%	–
IDSY	Exit	ID SYSTEMS INC	$0	–	-45,808	–	-0.04%	–
CWCO	Exit	CONSOLIDATED WATER CO	$0	–	-19,500	–	-0.04%	–
RVLT	Exit	REVOLUTION LIGHTING TECHNOLOGIES INC	$0	–	-36,154	–	-0.04%	–
AGN	Exit	ALLERGAN	$0	–	-1,000	–	-0.04%	–
BGFV	Exit	BIG 5 SPORTING GOODS CORP	$0	–	-16,836	–	-0.04%	–
SONA	Exit	SOUTHERN NATIONAL BANCORP VA	$0	–	-18,000	–	-0.04%	–
INTU	Exit	INTUIT	$0	–	-2,200	–	-0.04%	–
IRMD	Exit	IRADIMED CORP	$0	–	-14,000	–	-0.04%	–
PMD	Exit	PSYCHEMEDICS CORP	$0	–	-12,300	–	-0.04%	–
LIOX	Exit	LIONBRIDGE TECHNOLOGIES INC	$0	–	-49,424	–	-0.04%	–
AHH	Exit	ARMADA HOFFLER PROPERTIES INC	$0	–	-18,240	–	-0.04%	–
LBAI	Exit	LAKELAND BANCORP INC	$0	–	-17,833	–	-0.04%	–
MO	Exit	ALTRIA GROUP	$0	–	-4,114	–	-0.04%	–
CZNC	Exit	CITIZENS & NORTHERN CORP	$0	–	-12,000	–	-0.05%	–
UFAB	Exit	UNIQUE FABRICATING INC	$0	–	-22,000	–	-0.05%	–
DUK	Exit	DUKE ENERGY	$0	–	-3,356	–	-0.05%	–
UMH	Exit	UMH PROPERTIES INC	$0	–	-22,913	–	-0.05%	–
NILE	Exit	BLUE NILE INC	$0	–	-7,923	–	-0.05%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHINES	$0	–	-1,742	–	-0.05%	–
SLP	Exit	SIMULATIONS PLUS INC	$0	–	-31,957	–	-0.05%	–
USPH	Exit	US PHYSICAL THERAPY INC	$0	–	-4,500	–	-0.05%	–
PHX	Exit	PANHANDLE OIL & GAS INC	$0	–	-15,876	–	-0.05%	–
KMI	Exit	KINDER MORGAN	$0	–	-12,832	–	-0.05%	–
FCBC	Exit	FIRST COMMUNITY BANCSHARES INC	$0	–	-12,600	–	-0.06%	–
IJH	Exit	ISHARES CORE S&P MIDCAP ETFetf	$0	–	-2,085	–	-0.06%	–
CCNE	Exit	CNB FINANCIAL CORP	$0	–	-15,300	–	-0.06%	–
GLD	Exit	SPDR GOLD SHARES ETFetf	$0	–	-2,650	–	-0.06%	–
NVS	Exit	NOVARTIS SPONSORED ADR	$0	–	-4,500	–	-0.06%	–
BRKB	Exit	BERKSHIRE HATHAWAY CL B	$0	–	-2,550	–	-0.06%	–
PENN	Exit	PENN NATIONAL GAMING	$0	–	-27,819	–	-0.07%	–
O	Exit	REALTY INCOME	$0	–	-5,738	–	-0.07%	–
DOV	Exit	DOVER	$0	–	-5,326	–	-0.07%	–
OXY	Exit	OCCIDENTAL PETROLEUM	$0	–	-5,342	–	-0.07%	–
IVV	Exit	ISHARES CORE S&P 500 ETFetf	$0	–	-1,959	–	-0.07%	–
EEM	Exit	ISHARES MSCI EMERGING MARKETS INDEXetf	$0	–	-12,800	–	-0.08%	–
IDXX	Exit	IDEXX LABORATORIES	$0	–	-4,500	–	-0.09%	–
KO	Exit	COCACOLA	$0	–	-12,350	–	-0.09%	–
HD	Exit	HOME DEPOT	$0	–	-4,265	–	-0.10%	–
UNP	Exit	UNION PACIFIC	$0	–	-5,830	–	-0.10%	–
UPS	Exit	UNITED PARCEL SERVICE CL B	$0	–	-7,729	–	-0.15%	–
GE	Exit	GENERAL ELECTRIC	$0	–	-34,775	–	-0.18%	–
IJR	Exit	ISHARES CORE S&P SMALLCAP ETFetf	$0	–	-8,355	–	-0.18%	–
SEAC	Exit	SEACHANGE INTERNATIONAL INC	$0	–	-401,361	–	-0.21%	–
GLPI	Exit	GAMING & LEISURE PROPERTIES	$0	–	-36,817	–	-0.22%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-11,236	–	-0.23%	–
COST	Exit	COSTCO WHOLESALE	$0	–	-8,715	–	-0.23%	–
CCC	Exit	CALGON CARBON CORP	$0	–	-96,022	–	-0.26%	–
SFNC	Exit	SIMMONS FIRST NATIONAL CORP	$0	–	-30,064	–	-0.26%	–
TREE	Exit	LENDING TREE INC	$0	–	-15,858	–	-0.27%	–
NVEE	Exit	NV5 HOLDINGS INC	$0	–	-48,865	–	-0.28%	–
AMN	Exit	AMN HEALTHCARE SERVICES INC	$0	–	-50,554	–	-0.28%	–
MGRC	Exit	MCGRATH RENTCORP	$0	–	-56,281	–	-0.31%	–
THRM	Exit	GENTHERM INC	$0	–	-58,485	–	-0.32%	–
RAVN	Exit	RAVEN INDUSTRIES INC	$0	–	-79,911	–	-0.32%	–
VSS	Exit	VANGUARD FTSE ALLWORLD EXUS SMALLCAP ETFetf	$0	–	-18,779	–	-0.33%	–
BRKA	Exit	BERKSHIRE HATHAWAY CL A	$0	–	-9	–	-0.34%	–
MTDR	Exit	MATADOR RESOURCES CO	$0	–	-80,680	–	-0.34%	–
PG	Exit	PROCTER & GAMBLE	$0	–	-23,159	–	-0.36%	–
ACETQ	Exit	ACETO CORP	$0	–	-111,164	–	-0.37%	–
AVAV	Exit	AEROVIRONMENT INC	$0	–	-89,585	–	-0.38%	–
NVEC	Exit	NVE CORP	$0	–	-37,512	–	-0.39%	–
TNGO	Exit	TANGOE INC	$0	–	-281,965	–	-0.41%	–
IRBT	Exit	IROBOT CORP	$0	–	-54,178	–	-0.42%	–
TCAP	Exit	TRIANGLE CAPITAL CORP	$0	–	-121,924	–	-0.42%	–
ATRO	Exit	ASTRONICS CORP	$0	–	-54,039	–	-0.42%	–
NSP	Exit	INSPERITY INC	$0	–	-34,319	–	-0.44%	–
SFLY	Exit	SHUTTERFLY INC	$0	–	-56,029	–	-0.44%	–
SYY	Exit	SYSCO	$0	–	-51,260	–	-0.44%	–
COP	Exit	CONOCOPHILLIPS	$0	–	-59,114	–	-0.45%	–
ITW	Exit	ILLINOIS TOOL WORKS	$0	–	-21,500	–	-0.45%	–
CRY	Exit	CRYOLIFE INC	$0	–	-146,668	–	-0.45%	–
NTRI	Exit	NUTRISYSTEM INC	$0	–	-87,144	–	-0.45%	–
CMD	Exit	CANTEL MEDICAL CORP	$0	–	-33,220	–	-0.45%	–
TASR	Exit	TASER INTERNATIONAL INC	$0	–	-91,663	–	-0.46%	–
ZIXI	Exit	ZIX CORP	$0	–	-659,649	–	-0.47%	–
DWM	Exit	WISDOMTREE DEFA INDEX	$0	–	-57,648	–	-0.47%	–
LPSN	Exit	LIVEPERSON INC	$0	–	-326,108	–	-0.48%	–
OFC	Exit	CORPORATE OFFICE PROPERTIES TRUST	$0	–	-97,202	–	-0.48%	–
CL	Exit	COLGATEPALMOLIVE	$0	–	-37,485	–	-0.49%	–
ADP	Exit	AUTOMATIC DATA PROCESSING	$0	–	-31,701	–	-0.49%	–
VIVO	Exit	MERIDIAN BIOSCIENCE INC	$0	–	-150,552	–	-0.51%	–
IMAX	Exit	IMAX CORP	$0	–	-101,572	–	-0.51%	–
MNR	Exit	MONMOUTH REAL ESTATE INVESTMENT CORP	$0	–	-208,187	–	-0.52%	–
FARM	Exit	FARMER BROTHERS CO	$0	–	-83,649	–	-0.52%	–
YUM	Exit	YUM! BRANDS	$0	–	-33,000	–	-0.52%	–
OMCL	Exit	OMNICELL INC	$0	–	-78,784	–	-0.53%	–
KMB	Exit	KIMBERLYCLARK	$0	–	-25,153	–	-0.55%	–
EFA	Exit	ISHARES MSCI EAFE INDEXetf	$0	–	-54,395	–	-0.56%	–
ACN	Exit	ACCENTURE	$0	–	-30,000	–	-0.64%	–
T	Exit	A T & T NEW	$0	–	-91,621	–	-0.65%	–
LLY	Exit	LILLY ELI	$0	–	-57,562	–	-0.81%	–
CALD	Exit	CALLIDUS SOFTWARE INC	$0	–	-252,196	–	-0.81%	–
	Exit	ENERGEN	$0	–	-93,763	–	-0.95%	–
MMM	Exit	3M	$0	–	-35,380	–	-1.09%	–
VWO	Exit	VANGUARD FTSE EMERGING MARKETS ETFetf	$0	–	-171,820	–	-1.13%	–
CVX	Exit	CHEVRON	$0	–	-63,396	–	-1.14%	–
MTB	Exit	M&T BANK CORP	$0	–	-56,217	–	-1.14%	–
	Exit	PUBLIC STORAGE	$0	–	-30,153	–	-1.18%	–
NKE	Exit	NIKE	$0	–	-127,964	–	-1.18%	–
SWKS	Exit	SKYWORKS SOLUTIONS	$0	–	-88,627	–	-1.18%	–
VZ	Exit	VERIZON COMMUNICATIONS	$0	–	-130,103	–	-1.18%	–
LMT	Exit	LOCKHEED MARTIN	$0	–	-29,763	–	-1.25%	–
PX	Exit	PRAXAIR	$0	–	-59,986	–	-1.27%	–
QCOM	Exit	QUALCOMM	$0	–	-107,062	–	-1.28%	–
WBA	Exit	WALGREENS BOOTS ALLIANCE	$0	–	-94,170	–	-1.33%	–
PFE	Exit	PFIZER	$0	–	-227,237	–	-1.34%	–
SNA	Exit	SNAPON	$0	–	-50,787	–	-1.35%	–
LOW	Exit	LOWE'S	$0	–	-107,642	–	-1.36%	–
UTX	Exit	UNITED TECHNOLOGIES	$0	–	-76,773	–	-1.36%	–
BDX	Exit	BECTON DICKINSON	$0	–	-43,904	–	-1.38%	–
SLB	Exit	SCHLUMBERGER	$0	–	-101,604	–	-1.40%	–
XRAY	Exit	DENTSPLY SIRONA	$0	–	-135,560	–	-1.41%	–
ABT	Exit	ABBOTT LABORATORIES	$0	–	-192,414	–	-1.42%	–
PAG	Exit	PENSKE AUTOMOTIVE GROUP	$0	–	-174,543	–	-1.47%	–
ABBV	Exit	ABBVIE	$0	–	-138,855	–	-1.53%	–
SYK	Exit	STRYKER	$0	–	-76,113	–	-1.55%	–
PNC	Exit	PNC FINANCIAL SERVICES GROUP	$0	–	-98,595	–	-1.55%	–
CB	Exit	CHUBB	$0	–	-70,946	–	-1.56%	–
DIS	Exit	DISNEY WALT	$0	–	-96,433	–	-1.56%	–
MRK	Exit	MERCK	$0	–	-146,619	–	-1.60%	–
SBUX	Exit	STARBUCKS	$0	–	-171,379	–	-1.62%	–
DD	Exit	DUPONT DE NEMOURS	$0	–	-138,670	–	-1.62%	–
CSX	Exit	CSX	$0	–	-306,633	–	-1.63%	–
JPM	Exit	JPMORGAN CHASE	$0	–	-142,490	–	-1.66%	–
MSFT	Exit	MICROSOFT	$0	–	-169,832	–	-1.71%	–
CSCO	Exit	CISCO SYSTEMS	$0	–	-328,957	–	-1.82%	–
XOM	Exit	EXXONMOBIL	$0	–	-122,204	–	-1.86%	–
WFC	Exit	WELLS FARGO	$0	–	-255,578	–	-1.98%	–
ADBE	Exit	ADOBE SYSTEMS	$0	–	-108,771	–	-2.06%	–
TYL	Exit	TYLER TECHNOLOGIES	$0	–	-82,614	–	-2.47%	–
AAPL	Exit	APPLE	$0	–	-156,325	–	-3.09%	–
IWM	Exit	ISHARES RUSSELL 2000 INDEXetf	$0	–	-144,400	–	-3.13%	–
PEP	Exit	PEPSICO	$0	–	-247,160	–	-4.70%	–
SPY	Exit	SPDR S & P 500 INDEXetf	$0	–	-235,150	–	-8.89%	–

Q3 2016

			Value		Shares		↓ Weighting
SPY	Buy	SPDR S & P 500 INDEXetf	$50,863,000	+4.1%	235,150	+0.8%	8.89%	-6.2%
PEP	Buy	PEPSICO	$26,884,000	+154.5%	247,160	+1.0%	4.70%	+129.4%
IWM	Sell	ISHARES RUSSELL 2000 INDEXetf	$17,936,000	+7.3%	144,400	-0.7%	3.13%	-3.3%
AAPL	Buy	APPLE	$17,673,000	+19.1%	156,325	+0.7%	3.09%	+7.3%
TYL	Buy	TYLER TECHNOLOGIES	$14,146,000	+22.5%	82,614	+19.3%	2.47%	+10.4%
ADBE	Buy	ADOBE SYSTEMS	$11,806,000	+13.3%	108,771	+0.0%	2.06%	+2.1%
WFC	Buy	WELLS FARGO	$11,317,000	-2.7%	255,578	+4.0%	1.98%	-12.3%
XOM	Sell	EXXONMOBIL	$10,666,000	-14.2%	122,204	-7.9%	1.86%	-22.7%
CSCO	Buy	CISCO SYSTEMS	$10,435,000	+16.5%	328,957	+5.4%	1.82%	+5.0%
MSFT	Buy	MICROSOFT	$9,782,000	+17.6%	169,832	+4.5%	1.71%	+6.0%
JPM	Buy	JPMORGAN CHASE	$9,488,000	+12.7%	142,490	+5.1%	1.66%	+1.5%
CSX	Buy	CSX	$9,352,000	+29.5%	306,633	+10.7%	1.63%	+16.7%
DD	Buy	DUPONT DE NEMOURS	$9,287,000	+8.5%	138,670	+4.9%	1.62%	-2.2%
SBUX	Buy	STARBUCKS	$9,278,000	+0.8%	171,379	+6.4%	1.62%	-9.1%
MRK	Buy	MERCK	$9,151,000	+12.5%	146,619	+3.8%	1.60%	+1.4%
DIS	Buy	DISNEY WALT	$8,955,000	-1.0%	96,433	+4.3%	1.56%	-10.7%
CB	Buy	CHUBB	$8,914,000	+1.2%	70,946	+5.3%	1.56%	-8.7%
PNC	Buy	PNC FINANCIAL SERVICES GROUP	$8,882,000	+16.9%	98,595	+5.6%	1.55%	+5.4%
SYK	Buy	STRYKER	$8,860,000	+2.5%	76,113	+5.5%	1.55%	-7.6%
ABBV	Buy	ABBVIE	$8,758,000	+5.6%	138,855	+3.6%	1.53%	-4.9%
PAG	Sell	PENSKE AUTOMOTIVE GROUP	$8,409,000	+34.2%	174,543	-12.4%	1.47%	+20.9%
ABT	Buy	ABBOTT LABORATORIES	$8,137,000	+11.2%	192,414	+3.4%	1.42%	+0.2%
XRAY	Buy	DENTSPLY SIRONA	$8,056,000	-0.5%	135,560	+3.8%	1.41%	-10.3%
SLB	Buy	SCHLUMBERGER	$7,990,000	+8.9%	101,604	+9.5%	1.40%	-1.9%
BDX	Buy	BECTON DICKINSON	$7,891,000	+16.7%	43,904	+10.1%	1.38%	+5.2%
UTX	Buy	UNITED TECHNOLOGIES	$7,800,000	+10.4%	76,773	+11.5%	1.36%	-0.5%
LOW	Buy	LOWE'S	$7,773,000	-3.9%	107,642	+5.3%	1.36%	-13.4%
SNA	Buy	SNAPON	$7,718,000	+2.5%	50,787	+6.5%	1.35%	-7.6%
PFE	Buy	PFIZER	$7,697,000	+0.5%	227,237	+4.4%	1.34%	-9.5%
WBA	Buy	WALGREENS BOOTS ALLIANCE	$7,592,000	+37.1%	94,170	+41.6%	1.33%	+23.6%
QCOM	Sell	QUALCOMM	$7,334,000	+25.3%	107,062	-2.0%	1.28%	+13.0%
PX	Buy	PRAXAIR	$7,248,000	+16.8%	59,986	+8.7%	1.27%	+5.3%
LMT	Buy	LOCKHEED MARTIN	$7,135,000	+14.1%	29,763	+18.1%	1.25%	+2.8%
VZ	Buy	VERIZON COMMUNICATIONS	$6,763,000	-3.1%	130,103	+4.1%	1.18%	-12.6%
SWKS	Buy	SKYWORKS SOLUTIONS	$6,748,000	+39.2%	88,627	+15.7%	1.18%	+25.4%
NKE	Buy	NIKE	$6,737,000	+1.0%	127,964	+5.9%	1.18%	-9.0%
	Buy	PUBLIC STORAGE	$6,728,000	+19.5%	30,153	+36.9%	1.18%	+7.7%
MTB	Buy	M&T BANK CORP	$6,527,000	+4.6%	56,217	+6.5%	1.14%	-5.7%
CVX	Buy	CHEVRON	$6,525,000	+6.4%	63,396	+8.4%	1.14%	-4.1%
VWO	Sell	VANGUARD FTSE EMERGING MARKETS ETFetf	$6,466,000	+5.4%	171,820	-1.4%	1.13%	-5.0%
MMM	Buy	3M	$6,235,000	+586.7%	35,380	+582.2%	1.09%	+519.3%
	Buy	ENERGEN	$5,412,000	+43.9%	93,763	+20.2%	0.95%	+29.8%
CALD	Sell	CALLIDUS SOFTWARE INC	$4,628,000	-9.6%	252,196	-1.6%	0.81%	-18.5%
LLY	Buy	LILLY ELI	$4,620,000	+7.8%	57,562	+5.8%	0.81%	-2.9%
T	Sell	A T & T NEW	$3,721,000	-6.7%	91,621	-0.8%	0.65%	-16.0%
EFA	Sell	ISHARES MSCI EAFE INDEXetf	$3,216,000	+5.1%	54,395	-0.8%	0.56%	-5.4%
KMB	Buy	KIMBERLYCLARK	$3,173,000	+1.5%	25,153	+10.7%	0.55%	-8.6%
OMCL	Sell	OMNICELL INC	$3,017,000	+10.6%	78,784	-1.1%	0.53%	-0.4%
YUM	Sell	YUM! BRANDS	$2,997,000	+951.6%	33,000	-8.3%	0.52%	+852.7%
FARM	Sell	FARMER BROTHERS CO	$2,974,000	+9.9%	83,649	-0.9%	0.52%	-1.0%
MNR	Sell	MONMOUTH REAL ESTATE INVESTMENT CORP	$2,971,000	+7.0%	208,187	-0.5%	0.52%	-3.5%
IMAX	Buy	IMAX CORP	$2,943,000	-1.0%	101,572	+0.7%	0.51%	-10.8%
VIVO	Sell	MERIDIAN BIOSCIENCE INC	$2,904,000	-1.3%	150,552	-0.2%	0.51%	-11.1%
ADP	Buy	AUTOMATIC DATA PROCESSING	$2,796,000	-3.7%	31,701	+0.3%	0.49%	-13.1%
CL	Buy	COLGATEPALMOLIVE	$2,779,000	+9.6%	37,485	+8.2%	0.49%	-1.2%
OFC	Sell	CORPORATE OFFICE PROPERTIES TRUST	$2,756,000	-5.2%	97,202	-1.1%	0.48%	-14.5%
LPSN	Sell	LIVEPERSON INC	$2,743,000	+29.7%	326,108	-2.2%	0.48%	+16.8%
DWM	Sell	WISDOMTREE DEFA INDEX	$2,713,000	+2.6%	57,648	-2.4%	0.47%	-7.6%
ZIXI	Sell	ZIX CORP	$2,705,000	+9.2%	659,649	-0.2%	0.47%	-1.7%
TASR	Sell	TASER INTERNATIONAL INC	$2,622,000	+12.8%	91,663	-1.9%	0.46%	+1.6%
CMD	Buy	CANTEL MEDICAL CORP	$2,590,000	+13.4%	33,220	+0.0%	0.45%	+2.3%
NTRI	Sell	NUTRISYSTEM INC	$2,587,000	+16.2%	87,144	-0.7%	0.45%	+4.6%
CRY	Sell	CRYOLIFE INC	$2,577,000	+12.4%	146,668	-24.4%	0.45%	+1.1%
COP	Sell	CONOCOPHILLIPS	$2,570,000	-1.7%	59,114	-1.4%	0.45%	-11.4%
SYY	Sell	SYSCO	$2,512,000	-32.2%	51,260	-29.8%	0.44%	-38.9%
SFLY	Sell	SHUTTERFLY INC	$2,501,000	-5.2%	56,029	-1.0%	0.44%	-14.5%
NSP	Sell	INSPERITY INC	$2,493,000	-6.5%	34,319	-0.6%	0.44%	-15.7%
ATRO	Sell	ASTRONICS CORP	$2,434,000	+34.8%	54,039	-0.5%	0.42%	+21.4%
TCAP	Sell	TRIANGLE CAPITAL CORP	$2,402,000	+1.4%	121,924	-0.3%	0.42%	-8.7%
IRBT	Sell	IROBOT CORP	$2,383,000	-6.9%	54,178	-25.8%	0.42%	-16.1%
TNGO	Sell	TANGOE INC	$2,326,000	+5.6%	281,965	-1.2%	0.41%	-4.9%
NVEC	Sell	NVE CORP	$2,211,000	-0.3%	37,512	-0.7%	0.39%	-10.2%
AVAV	Sell	AEROVIRONMENT INC	$2,187,000	-12.6%	89,585	-0.4%	0.38%	-21.2%
ACETQ	Buy	ACETO CORP	$2,111,000	+32.8%	111,164	+53.1%	0.37%	+19.8%
PG	Buy	PROCTER & GAMBLE	$2,079,000	+11.4%	23,159	+5.0%	0.36%	+0.3%
MTDR	Sell	MATADOR RESOURCES CO	$1,964,000	+21.8%	80,680	-0.9%	0.34%	+9.6%
VSS	Sell	VANGUARD FTSE ALLWORLD EXUS SMALLCAP ETFetf	$1,869,000	+4.9%	18,779	-1.9%	0.33%	-5.2%
RAVN	Sell	RAVEN INDUSTRIES INC	$1,840,000	+20.5%	79,911	-0.9%	0.32%	+8.8%
THRM	Sell	GENTHERM INC	$1,838,000	-8.3%	58,485	-0.1%	0.32%	-17.5%
MGRC	Sell	MCGRATH RENTCORP	$1,785,000	+2.5%	56,281	-1.2%	0.31%	-7.7%
AMN	Sell	AMN HEALTHCARE SERVICES INC	$1,611,000	-20.5%	50,554	-0.3%	0.28%	-28.2%
NVEE	Sell	NV5 HOLDINGS INC	$1,579,000	+6.8%	48,865	-6.0%	0.28%	-3.8%
TREE	New	LENDING TREE INC	$1,537,000	–	15,858	–	0.27%	–
SFNC	Sell	SIMMONS FIRST NATIONAL CORP	$1,500,000	+7.8%	30,064	-0.3%	0.26%	-3.0%
CCC	Sell	CALGON CARBON CORP	$1,457,000	+15.2%	96,022	-0.2%	0.26%	+4.1%
COST	Sell	COSTCO WHOLESALE	$1,329,000	-82.0%	8,715	-81.5%	0.23%	-83.8%
JNJ	Sell	JOHNSON & JOHNSON	$1,327,000	-4.3%	11,236	-1.7%	0.23%	-13.8%
GLPI	Buy	GAMING & LEISURE PROPERTIES	$1,232,000	-2.1%	36,817	+0.8%	0.22%	-11.9%
SEAC	Buy	SEACHANGE INTERNATIONAL INC	$1,200,000	-5.1%	401,361	+1.2%	0.21%	-14.3%
GE	Sell	GENERAL ELECTRIC	$1,030,000	-6.4%	34,775	-0.5%	0.18%	-15.5%
UNP	Sell	UNION PACIFIC	$569,000	+10.9%	5,830	-0.9%	0.10%	0.0%
IDXX	Sell	IDEXX LABORATORIES	$507,000	-7.5%	4,500	-23.7%	0.09%	-16.0%
OXY	Sell	OCCIDENTAL PETROLEUM	$390,000	-11.6%	5,342	-8.6%	0.07%	-20.9%
DOV	Sell	DOVER	$392,000	+2.3%	5,326	-3.6%	0.07%	-8.1%
O	Buy	REALTY INCOME	$384,000	+0.5%	5,738	+4.2%	0.07%	-9.5%
PENN	Sell	PENN NATIONAL GAMING	$378,000	-4.3%	27,819	-1.7%	0.07%	-14.3%
NVS	Sell	NOVARTIS SPONSORED ADR	$355,000	-14.0%	4,500	-10.0%	0.06%	-22.5%
CCNE	Sell	CNB FINANCIAL CORP	$324,000	+11.7%	15,300	-6.1%	0.06%	+1.8%
SLP	Buy	SIMULATIONS PLUS INC	$282,000	+38.2%	31,957	+18.5%	0.05%	+22.5%
UMH	Sell	UMH PROPERTIES INC	$273,000	-9.9%	22,913	-14.9%	0.05%	-18.6%
MO	Sell	ALTRIA GROUP	$260,000	-24.9%	4,114	-17.9%	0.04%	-32.8%
AHH	Sell	ARMADA HOFFLER PROPERTIES INC	$244,000	-16.4%	18,240	-14.1%	0.04%	-24.6%
INTU	Sell	INTUIT	$242,000	-39.8%	2,200	-38.9%	0.04%	-46.2%
IRMD	Buy	IRADIMED CORP	$238,000	-8.8%	14,000	+16.7%	0.04%	-17.6%
SONA	Buy	SOUTHERN NATIONAL BANCORP VA	$235,000	+18.1%	18,000	+9.8%	0.04%	+5.1%
BGFV	Sell	BIG 5 SPORTING GOODS CORP	$229,000	+24.5%	16,836	-15.1%	0.04%	+11.1%
RVLT	Buy	REVOLUTION LIGHTING TECHNOLOGIES INC	$228,000	+40.7%	36,154	+38.2%	0.04%	+29.0%
MEET	New	MEETME INC	$217,000	–	35,000	–	0.04%	–
OESX	Buy	ORION ENERGY SYSTEMS INC	$217,000	+30.7%	162,834	+14.0%	0.04%	+18.8%
AMZN	Sell	AMAZONCOM	$209,000	-41.6%	250	-50.0%	0.04%	-46.4%
BLK	New	BLACKROCK	$206,000	–	568	–	0.04%	–
APC	New	ANADARKO PETROLEUM	$203,000	–	3,200	–	0.04%	–
DPS	Sell	DR PEPPER SNAPPLE GROUP	$201,000	-16.9%	2,200	-12.0%	0.04%	-25.5%
REFR	Buy	RESEARCH FRONTIERS INC	$193,000	-16.1%	74,447	+18.3%	0.03%	-24.4%
CHKE	Buy	CHEROKEE INC	$165,000	+3.1%	16,038	+11.3%	0.03%	-6.5%
DSCI	New	DERMA SCIENCES INC	$81,000	–	17,300	–	0.01%	–
	New	WALMART DE MEXICO SAB DE CV ORD	$23,000	–	10,520	–	0.00%	–
MCHX	Exit	MARCHEX INC	$0	–	-22,500	–	-0.01%	–
FHCO	Exit	FEMALE HEALTH CO	$0	–	-95,000	–	-0.02%	–
TMO	Exit	THERMO FISHER SCIENTIFIC	$0	–	-1,500	–	-0.04%	–
MON	Exit	MONSANTO NEW	$0	–	-2,200	–	-0.04%	–
DLTR	Exit	DOLLAR TREE	$0	–	-3,400	–	-0.06%	–
CBS	Exit	CVS HEALTH	$0	–	-4,022	–	-0.08%	–

Q2 2016

			Value		Shares		↓ Weighting
SPY	New	SPDR S & P 500 INDEXetf	$48,881,000	–	233,350	–	9.48%	–
IWM	New	ISHARES RUSSELL 2000 INDEXetf	$16,718,000	–	145,400	–	3.24%	–
AAPL	New	APPLE	$14,836,000	–	155,189	–	2.88%	–
XOM	New	EXXONMOBIL	$12,438,000	–	132,681	–	2.41%	–
WFC	New	WELLS FARGO	$11,632,000	–	245,771	–	2.26%	–
TYL	New	TYLER TECHNOLOGIES	$11,549,000	–	69,274	–	2.24%	–
PEP	New	PEPSICO	$10,563,000	–	244,707	–	2.05%	–
ADBE	New	ADOBE SYSTEMS	$10,419,000	–	108,765	–	2.02%	–
SBUX	New	STARBUCKS	$9,202,000	–	161,095	–	1.78%	–
DIS	New	DISNEY WALT	$9,042,000	–	92,430	–	1.75%	–
CSCO	New	CISCO SYSTEMS	$8,955,000	–	312,142	–	1.74%	–
CB	New	CHUBB	$8,804,000	–	67,354	–	1.71%	–
SYK	New	STRYKER	$8,643,000	–	72,131	–	1.68%	–
DD	New	DUPONT DE NEMOURS	$8,563,000	–	132,151	–	1.66%	–
JPM	New	JPMORGAN CHASE	$8,422,000	–	135,539	–	1.63%	–
MSFT	New	MICROSOFT	$8,316,000	–	162,522	–	1.61%	–
ABBV	New	ABBVIE	$8,297,000	–	134,025	–	1.61%	–
MRK	New	MERCK	$8,134,000	–	141,197	–	1.58%	–
XRAY	New	DENTSPLY SIRONA	$8,099,000	–	130,544	–	1.57%	–
LOW	New	LOWE'S	$8,092,000	–	102,212	–	1.57%	–
PFE	New	PFIZER	$7,662,000	–	217,605	–	1.49%	–
PNC	New	PNC FINANCIAL SERVICES GROUP	$7,597,000	–	93,342	–	1.47%	–
SNA	New	SNAP-ON	$7,527,000	–	47,696	–	1.46%	–
COST	New	COSTCO WHOLESALE	$7,392,000	–	47,073	–	1.43%	–
SLB	New	SCHLUMBERGER	$7,336,000	–	92,771	–	1.42%	–
ABT	New	ABBOTT LABORATORIES	$7,319,000	–	186,175	–	1.42%	–
CSX	New	CSX	$7,222,000	–	276,912	–	1.40%	–
UTX	New	UNITED TECHNOLOGIES	$7,063,000	–	68,870	–	1.37%	–
VZ	New	VERIZON COMMUNICATIONS	$6,979,000	–	124,989	–	1.35%	–
BDX	New	BECTON DICKINSON	$6,763,000	–	39,878	–	1.31%	–
NKE	New	NIKE	$6,667,000	–	120,781	–	1.29%	–
PAG	New	PENSKE AUTOMOTIVE GROUP	$6,266,000	–	199,175	–	1.22%	–
LMT	New	LOCKHEED MARTIN	$6,255,000	–	25,206	–	1.21%	–
MTB	New	M&T BANK CORP	$6,241,000	–	52,784	–	1.21%	–
PX	New	PRAXAIR	$6,204,000	–	55,199	–	1.20%	–
VWO	New	VANGUARD FTSE EMERGING MARKETS ETFetf	$6,137,000	–	174,190	–	1.19%	–
CVX	New	CHEVRON	$6,131,000	–	58,483	–	1.19%	–
QCOM	New	QUALCOMM	$5,851,000	–	109,220	–	1.14%	–
	New	PUBLIC STORAGE	$5,629,000	–	22,022	–	1.09%	–
WBA	New	WALGREENS BOOTS ALLIANCE	$5,539,000	–	66,522	–	1.07%	–
CALD	New	CALLIDUS SOFTWARE INC	$5,122,000	–	256,378	–	0.99%	–
SWKS	New	SKYWORKS SOLUTIONS	$4,849,000	–	76,630	–	0.94%	–
LLY	New	LILLY ELI	$4,284,000	–	54,398	–	0.83%	–
T	New	A T & T NEW	$3,990,000	–	92,330	–	0.77%	–
	New	ENERGEN	$3,761,000	–	78,023	–	0.73%	–
SYY	New	SYSCO	$3,703,000	–	72,983	–	0.72%	–
ACN	New	ACCENTURE	$3,399,000	–	30,000	–	0.66%	–
KMB	New	KIMBERLY-CLARK	$3,125,000	–	22,732	–	0.61%	–
EFA	New	ISHARES MSCI EAFE INDEXetf	$3,061,000	–	54,835	–	0.59%	–
IMAX	New	IMAX CORP	$2,973,000	–	100,848	–	0.58%	–
VIVO	New	MERIDIAN BIOSCIENCE INC	$2,942,000	–	150,861	–	0.57%	–
OFC	New	CORPORATE OFFICE PROPERTIES TRUST	$2,908,000	–	98,329	–	0.56%	–
ADP	New	AUTOMATIC DATA PROCESSING	$2,903,000	–	31,596	–	0.56%	–
MNR	New	MONMOUTH REAL ESTATE INVESTMENT CORP	$2,776,000	–	209,324	–	0.54%	–
OMCL	New	OMNICELL INC	$2,727,000	–	79,676	–	0.53%	–
FARM	New	FARMER BROTHERS CO	$2,706,000	–	84,406	–	0.52%	–
NSP	New	INSPERITY INC	$2,667,000	–	34,527	–	0.52%	–
DWM	New	WISDOMTREE DEFA INDEX	$2,644,000	–	59,083	–	0.51%	–
SFLY	New	SHUTTERFLY INC	$2,637,000	–	56,577	–	0.51%	–
COP	New	CONOCOPHILLIPS	$2,614,000	–	59,949	–	0.51%	–
IRBT	New	IROBOT CORP	$2,560,000	–	72,981	–	0.50%	–
CL	New	COLGATE-PALMOLIVE	$2,536,000	–	34,645	–	0.49%	–
AVAV	New	AEROVIRONMENT INC	$2,501,000	–	89,947	–	0.48%	–
ZIXI	New	ZIX CORP	$2,478,000	–	660,741	–	0.48%	–
TCAP	New	TRIANGLE CAPITAL CORP	$2,370,000	–	122,310	–	0.46%	–
TASR	New	TASER INTERNATIONAL INC	$2,325,000	–	93,430	–	0.45%	–
CRY	New	CRYOLIFE INC	$2,293,000	–	194,129	–	0.44%	–
CMD	New	CANTEL MEDICAL CORP	$2,283,000	–	33,213	–	0.44%	–
ITW	New	ILLINOIS TOOL WORKS	$2,239,000	–	21,500	–	0.43%	–
NTRI	New	NUTRISYSTEM INC	$2,226,000	–	87,790	–	0.43%	–
NVEC	New	NVE CORP	$2,217,000	–	37,794	–	0.43%	–
TNGO	New	TANGOE INC	$2,203,000	–	285,407	–	0.43%	–
LPSN	New	LIVEPERSON INC	$2,115,000	–	333,593	–	0.41%	–
AMN	New	AMN HEALTHCARE SERVICES INC	$2,027,000	–	50,711	–	0.39%	–
THRM	New	GENTHERM INC	$2,005,000	–	58,548	–	0.39%	–
BRKA	New	BERKSHIRE HATHAWAY CL A	$1,953,000	–	9	–	0.38%	–
PG	New	PROCTER & GAMBLE	$1,867,000	–	22,046	–	0.36%	–
ATRO	New	ASTRONICS CORP	$1,806,000	–	54,297	–	0.35%	–
VSS	New	VANGUARD FTSE ALL-WORLD EX-US SMALL-CAP ETFetf	$1,781,000	–	19,134	–	0.34%	–
MGRC	New	MCGRATH RENTCORP	$1,742,000	–	56,938	–	0.34%	–
MTDR	New	MATADOR RESOURCES CO	$1,612,000	–	81,438	–	0.31%	–
ACETQ	New	ACETO CORP	$1,590,000	–	72,621	–	0.31%	–
RAVN	New	RAVEN INDUSTRIES INC	$1,527,000	–	80,635	–	0.30%	–
NVEE	New	NV5 HOLDINGS INC	$1,479,000	–	52,008	–	0.29%	–
SFNC	New	SIMMONS FIRST NATIONAL CORP	$1,392,000	–	30,141	–	0.27%	–
JNJ	New	JOHNSON & JOHNSON	$1,387,000	–	11,436	–	0.27%	–
CCC	New	CALGON CARBON CORP	$1,265,000	–	96,202	–	0.24%	–
SEAC	New	SEACHANGE INTERNATIONAL INC	$1,265,000	–	396,420	–	0.24%	–
GLPI	New	GAMING & LEISURE PROPERTIES	$1,259,000	–	36,514	–	0.24%	–
GE	New	GENERAL ELECTRIC	$1,100,000	–	34,944	–	0.21%	–
IJR	New	ISHARES CORE S&P SMALL-CAP ETFetf	$971,000	–	8,355	–	0.19%	–
MMM	New	3M	$908,000	–	5,186	–	0.18%	–
UPS	New	UNITED PARCEL SERVICE CL B	$833,000	–	7,729	–	0.16%	–
KO	New	COCA-COLA	$560,000	–	12,350	–	0.11%	–
IDXX	New	IDEXX LABORATORIES	$548,000	–	5,900	–	0.11%	–
HD	New	HOME DEPOT	$545,000	–	4,265	–	0.11%	–
UNP	New	UNION PACIFIC	$513,000	–	5,880	–	0.10%	–
OXY	New	OCCIDENTAL PETROLEUM	$441,000	–	5,842	–	0.09%	–
EEM	New	ISHARES MSCI EMERGING MARKETS INDEXetf	$440,000	–	12,800	–	0.08%	–
NVS	New	NOVARTIS SPONSORED ADR	$413,000	–	5,000	–	0.08%	–
IVV	New	ISHARES CORE S&P 500 ETFetf	$412,000	–	1,959	–	0.08%	–
INTU	New	INTUIT	$402,000	–	3,600	–	0.08%	–
PENN	New	PENN NATIONAL GAMING	$395,000	–	28,294	–	0.08%	–
CBS	New	CVS HEALTH	$385,000	–	4,022	–	0.08%	–
DOV	New	DOVER	$383,000	–	5,526	–	0.07%	–
O	New	REALTY INCOME	$382,000	–	5,506	–	0.07%	–
BRKB	New	BERKSHIRE HATHAWAY CL B	$369,000	–	2,550	–	0.07%	–
AMZN	New	AMAZONCOM	$358,000	–	500	–	0.07%	–
MO	New	ALTRIA GROUP	$346,000	–	5,014	–	0.07%	–
GLD	New	SPDR GOLD SHARES ETFetf	$335,000	–	2,650	–	0.06%	–
DLTR	New	DOLLAR TREE	$320,000	–	3,400	–	0.06%	–
IJH	New	ISHARES CORE S&P MID-CAP ETFetf	$311,000	–	2,085	–	0.06%	–
UMH	New	UMH PROPERTIES INC	$303,000	–	26,913	–	0.06%	–
UFAB	New	UNIQUE FABRICATING INC	$295,000	–	22,000	–	0.06%	–
AHH	New	ARMADA HOFFLER PROPERTIES INC	$292,000	–	21,240	–	0.06%	–
CCNE	New	CNB FINANCIAL CORP	$290,000	–	16,300	–	0.06%	–
DUK	New	DUKE ENERGY	$288,000	–	3,356	–	0.06%	–
FCBC	New	FIRST COMMUNITY BANCSHARES INC	$283,000	–	12,600	–	0.06%	–
YUM	New	YUM! BRANDS	$285,000	–	36,000	–	0.06%	–
USPH	New	US PHYSICAL THERAPY INC	$271,000	–	4,500	–	0.05%	–
PHX	New	PANHANDLE OIL & GAS INC	$265,000	–	15,876	–	0.05%	–
IBM	New	INTERNATIONAL BUSINESS MACHINES	$264,000	–	1,742	–	0.05%	–
IRMD	New	IRADIMED CORP	$261,000	–	12,000	–	0.05%	–
CWCO	New	CONSOLIDATED WATER CO	$255,000	–	19,500	–	0.05%	–
KMI	New	KINDER MORGAN	$240,000	–	12,832	–	0.05%	–
CZNC	New	CITIZENS & NORTHERN CORP	$243,000	–	12,000	–	0.05%	–
DPS	New	DR PEPPER SNAPPLE GROUP	$242,000	–	2,500	–	0.05%	–
AGN	New	ALLERGAN	$231,000	–	1,000	–	0.04%	–
REFR	New	RESEARCH FRONTIERS INC	$230,000	–	62,947	–	0.04%	–
MON	New	MONSANTO NEW	$228,000	–	2,200	–	0.04%	–
GWRS	New	GLOBAL WATER RESOURCES	$220,000	–	25,000	–	0.04%	–
TMO	New	THERMO FISHER SCIENTIFIC	$222,000	–	1,500	–	0.04%	–
IDSY	New	ID SYSTEMS INC	$220,000	–	45,808	–	0.04%	–
NILE	New	BLUE NILE	$217,000	–	7,923	–	0.04%	–
SLP	New	SIMULATIONS PLUS INC	$204,000	–	26,957	–	0.04%	–
TTE	New	TOTAL S A ADR	$204,000	–	4,250	–	0.04%	–
LBAI	New	LAKELAND BANCORP INC	$203,000	–	17,833	–	0.04%	–
SONA	New	SOUTHERN NATIONAL BANCORP VA	$199,000	–	16,400	–	0.04%	–
ORBC	New	ORBCOMM INC	$199,000	–	20,000	–	0.04%	–
LIOX	New	LIONBRIDGE TECHNOLOGIES INC	$195,000	–	49,424	–	0.04%	–
SMRTQ	New	STEIN MART INC	$191,000	–	24,700	–	0.04%	–
RMCF	New	ROCKY MOUNTAIN CHOCOLATE FACTORY INC	$185,000	–	18,200	–	0.04%	–
BGFV	New	BIG 5 SPORTING GOODS CORP	$184,000	–	19,836	–	0.04%	–
PMD	New	PSYCHEMEDICS CORP	$169,000	–	12,300	–	0.03%	–
OESX	New	ORION ENERGY SYSTEMS INC	$166,000	–	142,834	–	0.03%	–
EPM	New	EVOLUTION PETROLEUM	$164,000	–	30,000	–	0.03%	–
RVLT	New	REVOLUTION LIGHTING TECHNOLOGIES INC	$162,000	–	26,154	–	0.03%	–
CHKE	New	CHEROKEE INC	$160,000	–	14,408	–	0.03%	–
CECE	New	CECO ENVIRONMENTAL CORP	$131,000	–	15,000	–	0.02%	–
FHCO	New	FEMALE HEALTH CO	$120,000	–	95,000	–	0.02%	–
MCHX	New	MARCHEX INC	$72,000	–	22,500	–	0.01%	–

Q4 2015

			Value		Shares		↓ Weighting
	Exit	WAL-MART DE MEXICO SAB DE CV ORD	$0	–	-10,520	–	-0.01%	–
PPSI	Exit	PIONEER POWER SOLUTIONS INC	$0	–	-20,000	–	-0.02%	–
NRTSF	Exit	NOBILIS HEALTH CORP	$0	–	-20,000	–	-0.02%	–
GTIM	Exit	GOOD TIMES RESTAURANTS	$0	–	-20,000	–	-0.03%	–
XONE	Exit	EXONE CO	$0	–	-19,969	–	-0.03%	–
IDSY	Exit	ID SYSTEMS INC	$0	–	-40,808	–	-0.03%	–
PMD	Exit	PSYCHEMEDICS CORP	$0	–	-14,300	–	-0.03%	–
FHCO	Exit	FEMALE HEALTH CO	$0	–	-95,000	–	-0.03%	–
OESX	Exit	ORION ENERGY SYSTEMS INC	$0	–	-87,834	–	-0.04%	–
RVLT	Exit	REVOLUTION LIGHTING TECHNOLOGIES INC	$0	–	-166,544	–	-0.04%	–
REFR	Exit	RESEARCH FRONTIERS INC	$0	–	-33,556	–	-0.04%	–
STRM	Exit	STREAMLINE HEALTH SOLUTIONS INC	$0	–	-76,585	–	-0.04%	–
AVID	Exit	AVID TECHNOLOGY INC	$0	–	-22,000	–	-0.04%	–
NVEE	Exit	NV5 HOLDINGS INC	$0	–	-10,056	–	-0.04%	–
LIOX	Exit	LIONBRIDGE TECHNOLOGIES INC	$0	–	-39,424	–	-0.04%	–
LBAI	Exit	LAKELAND BANCORP INC	$0	–	-17,833	–	-0.04%	–
WGL	Exit	WGL HOLDINGS	$0	–	-3,600	–	-0.05%	–
ESRX	Exit	EXPRESS SCRIPTS HOLDING	$0	–	-2,545	–	-0.05%	–
RMCF	Exit	ROCKY MOUNTAIN CHOCOLATE FACTORY INC	$0	–	-19,200	–	-0.05%	–
FCBC	Exit	FIRST COMMUNITY BANCSHARES INC	$0	–	-12,600	–	-0.05%	–
DLTR	Exit	DOLLAR TREE	$0	–	-3,400	–	-0.05%	–
CHKE	Exit	CHEROKEE INC	$0	–	-14,408	–	-0.05%	–
AHH	Exit	ARMADA HOFFLER PROPERTIES INC	$0	–	-23,240	–	-0.05%	–
CWCO	Exit	CONSOLIDATED WATER CO	$0	–	-19,500	–	-0.05%	–
UTMD	Exit	UTAH MEDICAL PRODUCTS INC	$0	–	-4,243	–	-0.05%	–
DUK	Exit	DUKE ENERGY	$0	–	-3,206	–	-0.05%	–
MDY	Exit	SPDR S&P MIDCAP 400 ETFetf	$0	–	-920	–	-0.05%	–
CZNC	Exit	CITIZENS & NORTHERN CORP	$0	–	-12,000	–	-0.05%	–
O	Exit	REALTY INCOME	$0	–	-4,975	–	-0.05%	–
DPS	Exit	DR PEPPER SNAPPLE GROUP	$0	–	-3,000	–	-0.05%	–
UFAB	Exit	UNIQUE FABRICATING INC	$0	–	-22,000	–	-0.06%	–
BMTC	Exit	BRYN MAWR BANK CORP	$0	–	-8,047	–	-0.06%	–
USPH	Exit	US PHYSICAL THERAPY INC	$0	–	-5,500	–	-0.06%	–
UMH	Exit	UMH PROPERTIES INC	$0	–	-26,913	–	-0.06%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHINES	$0	–	-1,742	–	-0.06%	–
ORBC	Exit	ORBCOMM INC	$0	–	-45,000	–	-0.06%	–
MIDD	Exit	MIDDLEBY CORP	$0	–	-2,400	–	-0.06%	–
PHX	Exit	PANHANDLE OIL & GAS INC	$0	–	-15,876	–	-0.06%	–
AMZN	Exit	AMAZONCOM	$0	–	-500	–	-0.06%	–
SKUL	Exit	SKULLCANDY INC	$0	–	-47,000	–	-0.06%	–
IJH	Exit	ISHARES CORE S&P MID-CAP ETFetf	$0	–	-1,950	–	-0.06%	–
AGN	Exit	ALLERGAN	$0	–	-1,000	–	-0.06%	–
MO	Exit	ALTRIA GROUP	$0	–	-5,014	–	-0.06%	–
BGFV	Exit	BIG 5 SPORTING GOODS CORP	$0	–	-26,836	–	-0.06%	–
CCNE	Exit	CNB FINANCIAL CORP	$0	–	-16,300	–	-0.07%	–
OXY	Exit	OCCIDENTAL PETROLEUM	$0	–	-4,650	–	-0.07%	–
HD	Exit	HOME DEPOT	$0	–	-2,692	–	-0.07%	–
DOV	Exit	DOVER	$0	–	-5,576	–	-0.07%	–
INTU	Exit	INTUIT	$0	–	-3,800	–	-0.08%	–
KMI	Exit	KINDER MORGAN	$0	–	-12,832	–	-0.08%	–
CBS	Exit	CVS HEALTH	$0	–	-3,722	–	-0.08%	–
SLP	Exit	SIMULATIONS PLUS INC	$0	–	-39,457	–	-0.08%	–
NSC	Exit	NORFOLK SOUTHERN	$0	–	-4,950	–	-0.08%	–
CDK	Exit	CDK GLOBAL	$0	–	-7,938	–	-0.09%	–
UNP	Exit	UNION PACIFIC	$0	–	-4,755	–	-0.10%	–
EEM	Exit	ISHARES MSCI EMERGING MARKETS INDEXetf	$0	–	-12,800	–	-0.10%	–
NVS	Exit	NOVARTIS SPONSORED ADR	$0	–	-5,084	–	-0.10%	–
IRMD	Exit	IRADIMED CORP	$0	–	-19,000	–	-0.10%	–
PENN	Exit	PENN NATIONAL GAMING	$0	–	-28,917	–	-0.11%	–
IDXX	Exit	IDEXX LABORATORIES	$0	–	-7,200	–	-0.12%	–
UPS	Exit	UNITED PARCEL SERVICE CL B	$0	–	-6,681	–	-0.15%	–
GE	Exit	GENERAL ELECTRIC	$0	–	-27,599	–	-0.16%	–
SWKS	Exit	SKYWORKS SOLUTIONS	$0	–	-10,700	–	-0.20%	–
IJR	Exit	ISHARES CORE S&P SMALL-CAP ETFetf	$0	–	-8,505	–	-0.20%	–
GLPI	Exit	GAMING & LEISURE PROPERTIES	$0	–	-36,472	–	-0.24%	–
KO	Exit	COCA-COLA	$0	–	-27,350	–	-0.25%	–
QSII	Exit	QUALITY SYSTEMS INC	$0	–	-91,064	–	-0.26%	–
TFM	Exit	THE FRESH MARKET INC	$0	–	-50,908	–	-0.26%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-12,663	–	-0.27%	–
RAVN	Exit	RAVEN INDUSTRIES INC	$0	–	-80,007	–	-0.31%	–
MGRC	Exit	MCGRATH RENTCORP	$0	–	-56,843	–	-0.34%	–
NPBC	Exit	NATIONAL PENN BANCSHARES INC	$0	–	-131,343	–	-0.35%	–
PG	Exit	PROCTER & GAMBLE	$0	–	-21,761	–	-0.35%	–
THRM	Exit	GENTHERM INC	$0	–	-35,896	–	-0.36%	–
FARM	Exit	FARMER BROTHERS CO	$0	–	-60,642	–	-0.37%	–
MTDR	Exit	MATADOR RESOURCES CO	$0	–	-80,719	–	-0.38%	–
AVAV	Exit	AEROVIRONMENT INC	$0	–	-88,713	–	-0.40%	–
NVEC	Exit	NVE CORP	$0	–	-38,005	–	-0.42%	–
TNGO	Exit	TANGOE INC	$0	–	-257,001	–	-0.42%	–
ATRO	Exit	ASTRONICS CORP	$0	–	-46,849	–	-0.43%	–
VSS	Exit	VANGUARD FTSE ALL-WORLD EX-US SMALL-CAP ETF	$0	–	-21,014	–	-0.43%	–
BRKA	Exit	BERKSHIRE HATHAWAY CL A	$0	–	-10	–	-0.44%	–
ITW	Exit	ILLINOIS TOOL WORKS	$0	–	-24,000	–	-0.45%	–
MNR	Exit	MONMOUTH REAL ESTATE INVESTMENT CORP	$0	–	-206,065	–	-0.45%	–
TASR	Exit	TASER INTERNATIONAL INC	$0	–	-91,331	–	-0.45%	–
ACETQ	Exit	ACETO CORP	$0	–	-73,707	–	-0.46%	–
TCAP	Exit	TRIANGLE CAPITAL CORP	$0	–	-123,179	–	-0.46%	–
SFLY	Exit	SHUTTERFLY INC	$0	–	-56,715	–	-0.46%	–
ZIXI	Exit	ZIX CORP	$0	–	-490,021	–	-0.47%	–
SEAC	Exit	SEACHANGE INTERNATIONAL INC	$0	–	-331,280	–	-0.47%	–
OFC	Exit	CORPORATE OFFICE PROPERTIES TRUST	$0	–	-99,694	–	-0.47%	–
WBA	Exit	WALGREENS BOOTS ALLIANCE	$0	–	-25,295	–	-0.48%	–
CL	Exit	COLGATE-PALMOLIVE	$0	–	-33,325	–	-0.48%	–
IRBT	Exit	IROBOT CORP	$0	–	-73,059	–	-0.48%	–
CRY	Exit	CRYOLIFE INC	$0	–	-245,366	–	-0.54%	–
COP	Exit	CONOCOPHILLIPS	$0	–	-50,278	–	-0.54%	–
ADP	Exit	AUTOMATIC DATA PROCESSING	$0	–	-30,348	–	-0.55%	–
LPSN	Exit	LIVEPERSON INC	$0	–	-324,565	–	-0.55%	–
IMAX	Exit	IMAX CORP	$0	–	-74,327	–	-0.57%	–
VIVO	Exit	MERIDIAN BIOSCIENCE INC	$0	–	-151,613	–	-0.58%	–
DWM	Exit	WISDOMTREE DEFA INDEX	$0	–	-62,348	–	-0.64%	–
T	Exit	A T & T NEW	$0	–	-89,631	–	-0.66%	–
ACN	Exit	ACCENTURE	$0	–	-30,000	–	-0.67%	–
VWO	Exit	VANGUARD FTSE EMERGING MARKETS ETF	$0	–	-90,005	–	-0.67%	–
SNI	Exit	SCRIPPS NETWORKS INTERACTIVE	$0	–	-65,230	–	-0.72%	–
EFA	Exit	ISHARES MSCI EAFE INDEXetf	$0	–	-56,300	–	-0.73%	–
SYY	Exit	SYSCO	$0	–	-86,818	–	-0.76%	–
	Exit	ENERGEN	$0	–	-68,512	–	-0.77%	–
CB	Exit	CHUBB	$0	–	-29,497	–	-0.82%	–
CMD	Exit	CANTEL MEDICAL CORP	$0	–	-64,074	–	-0.82%	–
LLY	Exit	LILLY ELI	$0	–	-45,849	–	-0.87%	–
POWR	Exit	POWERSECURE INTERNATIONAL INC	$0	–	-334,717	–	-0.87%	–
CVX	Exit	CHEVRON	$0	–	-50,325	–	-0.90%	–
NTRI	Exit	NUTRISYSTEM INC	$0	–	-162,607	–	-0.97%	–
BDX	Exit	BECTON DICKINSON	$0	–	-33,119	–	-0.99%	–
CALD	Exit	CALLIDUS SOFTWARE INC	$0	–	-264,595	–	-1.02%	–
ETN	Exit	EATON	$0	–	-89,480	–	-1.04%	–
KMB	Exit	KIMBERLY-CLARK	$0	–	-43,184	–	-1.06%	–
VZ	Exit	VERIZON COMMUNICATIONS	$0	–	-110,926	–	-1.09%	–
PX	Exit	PRAXAIR	$0	–	-47,499	–	-1.09%	–
	Exit	PUBLIC STORAGE	$0	–	-23,714	–	-1.13%	–
QCOM	Exit	QUALCOMM	$0	–	-96,971	–	-1.18%	–
WMB	Exit	WILLIAMS COMPANIES	$0	–	-141,517	–	-1.18%	–
DD	Exit	DUPONT DE NEMOURS	$0	–	-108,704	–	-1.18%	–
UTX	Exit	UNITED TECHNOLOGIES	$0	–	-59,887	–	-1.20%	–
SLB	Exit	SCHLUMBERGER	$0	–	-77,712	–	-1.21%	–
SNA	Exit	SNAP-ON	$0	–	-35,717	–	-1.22%	–
LOW	Exit	LOWE'S	$0	–	-83,713	–	-1.30%	–
MMM	Exit	3M	$0	–	-41,009	–	-1.31%	–
MTB	Exit	M&T BANK CORP	$0	–	-47,883	–	-1.32%	–
COST	Exit	COSTCO WHOLESALE	$0	–	-40,456	–	-1.32%	–
MRK	Exit	MERCK	$0	–	-121,757	–	-1.36%	–
SYK	Exit	STRYKER	$0	–	-65,101	–	-1.38%	–
PFE	Exit	PFIZER	$0	–	-197,664	–	-1.40%	–
XRAY	Exit	DENTSPLY INTERNATIONAL	$0	–	-124,042	–	-1.42%	–
JWN	Exit	NORDSTROM	$0	–	-89,686	–	-1.45%	–
ABBV	Exit	ABBVIE	$0	–	-119,951	–	-1.47%	–
MSFT	Exit	MICROSOFT	$0	–	-147,580	–	-1.48%	–
CSX	Exit	CSX	$0	–	-247,699	–	-1.50%	–
ABT	Exit	ABBOTT LABORATORIES	$0	–	-166,225	–	-1.51%	–
CSCO	Exit	CISCO SYSTEMS	$0	–	-256,098	–	-1.52%	–
JPM	Exit	JPMORGAN CHASE	$0	–	-114,257	–	-1.57%	–
PNC	Exit	PNC FINANCIAL SERVICES GROUP	$0	–	-82,258	–	-1.66%	–
ADBE	Exit	ADOBE SYSTEMS	$0	–	-89,480	–	-1.66%	–
SBUX	Exit	STARBUCKS	$0	–	-136,149	–	-1.75%	–
TYL	Exit	TYLER TECHNOLOGIES	$0	–	-52,230	–	-1.76%	–
DIS	Exit	DISNEY WALT	$0	–	-82,788	–	-1.91%	–
PEP	Exit	PEPSICO	$0	–	-93,847	–	-2.00%	–
WFC	Exit	WELLS FARGO	$0	–	-178,979	–	-2.08%	–
NKE	Exit	NIKE	$0	–	-84,901	–	-2.36%	–
XOM	Exit	EXXONMOBIL	$0	–	-154,589	–	-2.60%	–
AAPL	Exit	APPLE	$0	–	-114,113	–	-2.84%	–
IWM	Exit	ISHARES RUSSELL 2000 INDEXetf	$0	–	-145,400	–	-3.58%	–
SPY	Exit	SPDR S & P 500 INDEXetf	$0	–	-224,120	–	-9.70%	–

Q3 2015

			Value		Shares		↓ Weighting
SPY	Buy	SPDR S & P 500 INDEXetf	$42,948,000	-6.5%	224,120	+0.4%	9.70%	+1.9%
IWM	Buy	ISHARES RUSSELL 2000 INDEXetf	$15,878,000	-12.5%	145,400	+0.1%	3.58%	-4.6%
AAPL	Buy	APPLE	$12,587,000	-8.7%	114,113	+1.8%	2.84%	-0.5%
XOM	Buy	EXXONMOBIL	$11,494,000	+11.2%	154,589	+24.4%	2.60%	+21.1%
NKE	Buy	NIKE	$10,440,000	+15.5%	84,901	+1.3%	2.36%	+25.8%
WFC	Buy	WELLS FARGO	$9,191,000	-6.5%	178,979	+2.2%	2.08%	+1.8%
PEP	Sell	PEPSICO	$8,850,000	+4.7%	93,847	-0.2%	2.00%	+14.1%
DIS	Buy	DISNEY WALT	$8,461,000	-9.3%	82,788	+1.1%	1.91%	-1.2%
TYL	Buy	TYLER TECHNOLOGIES	$7,798,000	+18.9%	52,230	+2.4%	1.76%	+29.5%
SBUX	Buy	STARBUCKS	$7,739,000	+6.9%	136,149	+0.9%	1.75%	+16.5%
ADBE	Buy	ADOBE SYSTEMS	$7,357,000	+3.5%	89,480	+1.8%	1.66%	+12.8%
PNC	Buy	PNC FINANCIAL SERVICES GROUP	$7,337,000	-4.3%	82,258	+2.5%	1.66%	+4.3%
JPM	Buy	JPMORGAN CHASE	$6,966,000	-6.1%	114,257	+3.5%	1.57%	+2.3%
CSCO	Buy	CISCO SYSTEMS	$6,723,000	+2.1%	256,098	+3.1%	1.52%	+11.2%
ABT	Buy	ABBOTT LABORATORIES	$6,686,000	-16.1%	166,225	+2.1%	1.51%	-8.7%
CSX	Buy	CSX	$6,663,000	-17.0%	247,699	+0.6%	1.50%	-9.6%
MSFT	Buy	MICROSOFT	$6,532,000	+4.1%	147,580	+2.1%	1.48%	+13.5%
ABBV	Buy	ABBVIE	$6,527,000	-17.9%	119,951	+1.2%	1.47%	-10.5%
JWN	Buy	NORDSTROM	$6,431,000	-1.3%	89,686	+2.4%	1.45%	+7.6%
XRAY	Sell	DENTSPLY INTERNATIONAL	$6,273,000	-2.5%	124,042	-0.6%	1.42%	+6.2%
PFE	Buy	PFIZER	$6,209,000	-4.3%	197,664	+2.0%	1.40%	+4.3%
SYK	Buy	STRYKER	$6,126,000	+1.7%	65,101	+3.1%	1.38%	+10.8%
MRK	Buy	MERCK	$6,014,000	-11.5%	121,757	+2.0%	1.36%	-3.6%
COST	Buy	COSTCO WHOLESALE	$5,849,000	+11.4%	40,456	+3.8%	1.32%	+21.3%
MTB	Sell	M&T BANK CORP	$5,839,000	-1.5%	47,883	-1.3%	1.32%	+7.3%
MMM	Buy	3M	$5,814,000	-3.0%	41,009	+2.4%	1.31%	+5.7%
LOW	Buy	LOWE'S	$5,769,000	+4.4%	83,713	+1.5%	1.30%	+13.7%
SNA	Buy	SNAP-ON	$5,391,000	-0.0%	35,717	+5.2%	1.22%	+9.0%
SLB	Buy	SCHLUMBERGER	$5,360,000	-14.9%	77,712	+3.1%	1.21%	-7.4%
UTX	Buy	UNITED TECHNOLOGIES	$5,329,000	-18.0%	59,887	+2.0%	1.20%	-10.7%
DD	Buy	DUPONT DE NEMOURS	$5,240,000	-24.0%	108,704	+0.7%	1.18%	-17.2%
WMB	Buy	WILLIAMS COMPANIES	$5,215,000	-35.0%	141,517	+1.1%	1.18%	-29.2%
QCOM	Sell	QUALCOMM	$5,210,000	-13.3%	96,971	-0.9%	1.18%	-5.5%
	Buy	PUBLIC STORAGE	$5,019,000	+15.5%	23,714	+0.6%	1.13%	+25.9%
PX	Buy	PRAXAIR	$4,838,000	-13.5%	47,499	+1.5%	1.09%	-5.9%
VZ	Buy	VERIZON COMMUNICATIONS	$4,826,000	-1.8%	110,926	+2.4%	1.09%	+7.0%
KMB	Buy	KIMBERLY-CLARK	$4,709,000	+6.8%	43,184	+3.6%	1.06%	+16.4%
ETN	Buy	EATON	$4,590,000	-22.8%	89,480	+1.6%	1.04%	-15.8%
CALD	Sell	CALLIDUS SOFTWARE INC	$4,495,000	+8.9%	264,595	-1.3%	1.02%	+18.7%
BDX	Buy	BECTON DICKINSON	$4,394,000	-2.6%	33,119	+4.0%	0.99%	+6.1%
NTRI	Sell	NUTRISYSTEM INC	$4,312,000	+5.6%	162,607	-3.2%	0.97%	+15.0%
CVX	Buy	CHEVRON	$3,970,000	-16.9%	50,325	+1.4%	0.90%	-9.5%
POWR	Sell	POWERSECURE INTERNATIONAL INC	$3,856,000	-22.0%	334,717	-1.5%	0.87%	-15.0%
LLY	Sell	LILLY ELI	$3,837,000	-7.0%	45,849	-7.3%	0.87%	+1.3%
CMD	Sell	CANTEL MEDICAL CORP	$3,633,000	+4.4%	64,074	-1.8%	0.82%	+13.7%
CB	Sell	CHUBB	$3,618,000	-30.2%	29,497	-46.0%	0.82%	-23.9%
	Buy	ENERGEN	$3,416,000	-24.8%	68,512	+2.0%	0.77%	-18.2%
SYY	Sell	SYSCO	$3,383,000	+7.7%	86,818	-1.2%	0.76%	+17.4%
EFA	Buy	ISHARES MSCI EAFE INDEXetf	$3,227,000	-9.4%	56,300	+0.4%	0.73%	-1.2%
SNI	Sell	SCRIPPS NETWORKS INTERACTIVE	$3,209,000	-25.9%	65,230	-1.6%	0.72%	-19.4%
VWO	Sell	VANGUARD FTSE EMERGING MARKETS ETF	$2,978,000	-58.0%	90,005	-48.1%	0.67%	-54.3%
T	Sell	A T & T NEW	$2,920,000	-5.9%	89,631	-1.1%	0.66%	+2.5%
DWM	Buy	WISDOMTREE DEFA INDEX	$2,832,000	-10.3%	62,348	+0.8%	0.64%	-2.3%
VIVO	Sell	MERIDIAN BIOSCIENCE INC	$2,593,000	-8.9%	151,613	-2.1%	0.58%	-0.8%
IMAX	Sell	IMAX CORP	$2,512,000	-15.6%	74,327	-2.2%	0.57%	-8.1%
LPSN	Sell	LIVEPERSON INC	$2,454,000	-22.6%	324,565	-1.0%	0.55%	-15.7%
ADP	Sell	AUTOMATIC DATA PROCESSING	$2,439,000	-1.7%	30,348	-1.8%	0.55%	+7.2%
COP	Buy	CONOCOPHILLIPS	$2,411,000	-18.2%	50,278	+4.7%	0.54%	-11.0%
CRY	Sell	CRYOLIFE INC	$2,387,000	-13.1%	245,366	-1.5%	0.54%	-5.3%
IRBT	Sell	IROBOT CORP	$2,129,000	-7.7%	73,059	-1.2%	0.48%	+0.6%
CL	Sell	COLGATE-PALMOLIVE	$2,115,000	-5.4%	33,325	-2.5%	0.48%	+3.0%
WBA	Sell	WALGREENS BOOTS ALLIANCE	$2,102,000	-2.9%	25,295	-1.4%	0.48%	+5.8%
OFC	Sell	CORPORATE OFFICE PROPERTIES TRUST	$2,097,000	-10.5%	99,694	-1.2%	0.47%	-2.5%
SEAC	Buy	SEACHANGE INTERNATIONAL INC	$2,087,000	+18.4%	331,280	+29.7%	0.47%	+29.0%
ZIXI	Sell	ZIX CORP	$2,063,000	-18.5%	490,021	-1.1%	0.47%	-11.1%
TCAP	Buy	TRIANGLE CAPITAL CORP	$2,030,000	+1.1%	123,179	+41.5%	0.46%	+10.1%
SFLY	Sell	SHUTTERFLY INC	$2,028,000	-24.8%	56,715	-1.2%	0.46%	-18.1%
ACETQ	Sell	ACETO CORP	$2,023,000	+12.2%	73,707	-0.8%	0.46%	+22.2%
MNR	Sell	MONMOUTH REAL ESTATE INVESTMENT CORP	$2,009,000	+0.4%	206,065	-1.2%	0.45%	+9.7%
TASR	Sell	TASER INTERNATIONAL INC	$2,012,000	-33.8%	91,331	-1.2%	0.45%	-27.9%
ITW	Sell	ILLINOIS TOOL WORKS	$1,975,000	-23.0%	24,000	-6.8%	0.45%	-16.2%
VSS	Buy	VANGUARD FTSE ALL-WORLD EX-US SMALL-CAP ETF	$1,906,000	-10.4%	21,014	+0.6%	0.43%	-2.5%
ATRO	Sell	ASTRONICS CORP	$1,894,000	-42.7%	46,849	-1.0%	0.43%	-37.5%
TNGO	Buy	TANGOE INC	$1,850,000	-7.4%	257,001	+59.7%	0.42%	+1.0%
NVEC	Sell	NVE CORP	$1,845,000	-37.5%	38,005	-1.2%	0.42%	-31.9%
AVAV	Sell	AEROVIRONMENT INC	$1,778,000	-23.0%	88,713	-0.8%	0.40%	-16.1%
MTDR	Sell	MATADOR RESOURCES CO	$1,674,000	-18.0%	80,719	-2.1%	0.38%	-10.6%
FARM	Sell	FARMER BROTHERS CO	$1,652,000	+15.8%	60,642	-1.6%	0.37%	+26.4%
THRM	New	GENTHERM INC	$1,612,000	–	35,896	–	0.36%	–
PG	Sell	PROCTER & GAMBLE	$1,565,000	-3.1%	21,761	-3.7%	0.35%	+5.4%
NPBC	Sell	NATIONAL PENN BANCSHARES INC	$1,543,000	+2.3%	131,343	-2.5%	0.35%	+11.2%
MGRC	Sell	MCGRATH RENTCORP	$1,517,000	-13.2%	56,843	-1.7%	0.34%	-5.5%
RAVN	Sell	RAVEN INDUSTRIES INC	$1,356,000	-16.4%	80,007	-1.1%	0.31%	-8.9%
TFM	Buy	THE FRESH MARKET INC	$1,150,000	-29.6%	50,908	+0.1%	0.26%	-23.3%
QSII	Sell	QUALITY SYSTEMS INC	$1,136,000	-24.7%	91,064	-1.4%	0.26%	-18.2%
KO	Sell	COCA-COLA	$1,097,000	+0.7%	27,350	-1.4%	0.25%	+9.7%
GLPI	Sell	GAMING & LEISURE PROPERTIES	$1,083,000	-19.5%	36,472	-0.6%	0.24%	-12.5%
IJR	Buy	ISHARES CORE S&P SMALL-CAP ETFetf	$906,000	-6.3%	8,505	+3.7%	0.20%	+2.5%
SWKS	Buy	SKYWORKS SOLUTIONS	$901,000	+188.8%	10,700	+256.7%	0.20%	+212.3%
GE	Sell	GENERAL ELECTRIC	$696,000	-8.4%	27,599	-3.5%	0.16%	0.0%
IDXX	New	IDEXX LABORATORIES	$535,000	–	7,200	–	0.12%	–
PENN	Sell	PENN NATIONAL GAMING	$485,000	-8.8%	28,917	-0.3%	0.11%	-0.9%
NVS	New	NOVARTIS SPONSORED ADR	$467,000	–	5,084	–	0.10%	–
UNP	Sell	UNION PACIFIC	$420,000	-13.2%	4,755	-6.4%	0.10%	-5.0%
CDK	Sell	CDK GLOBAL	$379,000	-15.8%	7,938	-4.8%	0.09%	-7.5%
INTU	New	INTUIT	$337,000	–	3,800	–	0.08%	–
DOV	Sell	DOVER	$319,000	-20.8%	5,576	-3.0%	0.07%	-14.3%
OXY	New	OCCIDENTAL PETROLEUM	$308,000	–	4,650	–	0.07%	–
BGFV	Buy	BIG 5 SPORTING GOODS CORP	$279,000	-10.0%	26,836	+22.9%	0.06%	-1.6%
IJH	New	ISHARES CORE S&P MID-CAP ETFetf	$266,000	–	1,950	–	0.06%	–
AMZN	New	AMAZONCOM	$256,000	–	500	–	0.06%	–
PHX	New	PANHANDLE OIL & GAS INC	$257,000	–	15,876	–	0.06%	–
ORBC	Buy	ORBCOMM INC	$251,000	+6.4%	45,000	+28.6%	0.06%	+16.3%
UFAB	New	UNIQUE FABRICATING INC	$244,000	–	22,000	–	0.06%	–
DPS	New	DR PEPPER SNAPPLE GROUP	$237,000	–	3,000	–	0.05%	–
CZNC	Buy	CITIZENS & NORTHERN CORP	$234,000	+3.5%	12,000	+9.1%	0.05%	+12.8%
MDY	New	SPDR S&P MIDCAP 400 ETFetf	$229,000	–	920	–	0.05%	–
UTMD	Buy	UTAH MEDICAL PRODUCTS INC	$229,000	+7.0%	4,243	+18.2%	0.05%	+18.2%
CHKE	Buy	CHEROKEE INC	$224,000	-42.4%	14,408	+4.3%	0.05%	-37.0%
ESRX	Sell	EXPRESS SCRIPTS HOLDING	$206,000	-10.4%	2,545	-1.5%	0.05%	-2.1%
WGL	New	WGL HOLDINGS	$208,000	–	3,600	–	0.05%	–
LBAI	Buy	LAKELAND BANCORP INC	$198,000	-1.0%	17,833	+5.9%	0.04%	+9.8%
LIOX	Buy	LIONBRIDGE TECHNOLOGIES INC	$195,000	-17.7%	39,424	+2.6%	0.04%	-10.2%
AVID	Buy	AVID TECHNOLOGY INC	$175,000	-22.9%	22,000	+29.4%	0.04%	-14.9%
REFR	New	RESEARCH FRONTIERS INC	$170,000	–	33,556	–	0.04%	–
RVLT	Buy	REVOLUTION LIGHTING TECHNOLOGIES INC	$158,000	+9.0%	166,544	+33.2%	0.04%	+20.0%
OESX	Buy	ORION ENERGY SYSTEMS INC	$158,000	-7.1%	87,834	+29.5%	0.04%	+2.9%
FHCO	Buy	FEMALE HEALTH CO	$150,000	+11.1%	95,000	+26.7%	0.03%	+21.4%
PMD	Buy	PSYCHEMEDICS CORP	$144,000	-23.4%	14,300	+12.6%	0.03%	-15.4%
XONE	Buy	EXONE CO	$134,000	+0.8%	19,969	+66.4%	0.03%	+7.1%
IDSY	Buy	ID SYSTEMS INC	$131,000	-39.4%	40,808	+15.3%	0.03%	-33.3%
GTIM	New	GOOD TIMES RESTAURANTS	$125,000	–	20,000	–	0.03%	–
NRTSF	New	NOBILIS HEALTH CORP	$104,000	–	20,000	–	0.02%	–
PQ	Exit	PETROQUEST ENERGY INC	$0	–	-48,311	–	-0.02%	–
CBKCQ	Exit	CHRISTOPHER & BANKS CORP	$0	–	-43,500	–	-0.04%	–
TTE	Exit	TOTAL S A ADR	$0	–	-4,250	–	-0.04%	–
TAXA	Exit	LIBERTY TAX INC	$0	–	-8,500	–	-0.04%	–
BP	Exit	BP PLC ADR	$0	–	-5,376	–	-0.04%	–
	Exit	AMAZONCOM	$0	–	-500	–	-0.04%	–
FC	Exit	FRANKLIN COVEY CO	$0	–	-12,000	–	-0.05%	–
BAX	Exit	BAXTER INTERNATIONAL	$0	–	-4,242	–	-0.06%	–
ADEP	Exit	ADEPT TECHNOLOGY INC	$0	–	-57,000	–	-0.08%	–
CME	Exit	CME GROUP	$0	–	-8,500	–	-0.16%	–
ROSE	Exit	ROSETTA RESOURCES INC	$0	–	-81,378	–	-0.38%	–
CAT	Exit	CATERPILLAR	$0	–	-28,775	–	-0.51%	–

Q2 2015

			Value		Shares		↓ Weighting
SPY	New	SPDR S & P 500 INDEXetf	$45,929,000	–	223,120	–	9.52%	–
IWM	New	ISHARES RUSSELL 2000 INDEXetf	$18,142,000	–	145,300	–	3.76%	–
AAPL	New	APPLE	$13,787,000	–	112,146	–	2.86%	–
XOM	New	EXXONMOBIL	$10,340,000	–	124,277	–	2.14%	–
WFC	New	WELLS FARGO	$9,833,000	–	175,062	–	2.04%	–
DIS	New	DISNEY WALT	$9,333,000	–	81,915	–	1.93%	–
NKE	New	NIKE	$9,040,000	–	83,810	–	1.87%	–
PEP	New	PEPSICO	$8,449,000	–	94,039	–	1.75%	–
CSX	New	CSX	$8,025,000	–	246,173	–	1.66%	–
WMB	New	WILLIAMS COMPANIES	$8,019,000	–	139,937	–	1.66%	–
ABT	New	ABBOTT LABORATORIES	$7,973,000	–	162,731	–	1.65%	–
ABBV	New	ABBVIE	$7,947,000	–	118,476	–	1.65%	–
PNC	New	PNC FINANCIAL SERVICES GRO	$7,663,000	–	80,235	–	1.59%	–
JPM	New	JPMORGAN CHASE	$7,421,000	–	110,422	–	1.54%	–
SBUX	New	STARBUCKS	$7,238,000	–	134,996	–	1.50%	–
ADBE	New	ADOBE SYSTEMS	$7,109,000	–	87,930	–	1.47%	–
VWO	New	VANGUARD FTSE EMERGING MAR	$7,091,000	–	173,460	–	1.47%	–
DD	New	DUPONT DE NEMOURS	$6,895,000	–	107,974	–	1.43%	–
MRK	New	MERCK	$6,799,000	–	119,421	–	1.41%	–
CSCO	New	CISCO SYSTEMS	$6,586,000	–	248,350	–	1.36%	–
TYL	New	TYLER TECHNOLOGIES	$6,558,000	–	50,990	–	1.36%	–
JWN	New	NORDSTROM	$6,516,000	–	87,618	–	1.35%	–
UTX	New	UNITED TECHNOLOGIES	$6,501,000	–	58,704	–	1.35%	–
PFE	New	PFIZER	$6,488,000	–	193,834	–	1.34%	–
XRAY	New	DENTSPLY INTERNATIONAL	$6,432,000	–	124,771	–	1.33%	–
SLB	New	SCHLUMBERGER	$6,302,000	–	75,364	–	1.31%	–
MSFT	New	MICROSOFT	$6,273,000	–	144,492	–	1.30%	–
SYK	New	STRYKER	$6,021,000	–	63,125	–	1.25%	–
QCOM	New	QUALCOMM	$6,010,000	–	97,810	–	1.24%	–
MMM	New	3M	$5,992,000	–	40,032	–	1.24%	–
ETN	New	EATON	$5,943,000	–	88,060	–	1.23%	–
MTB	New	M&T BANK CORP	$5,926,000	–	48,536	–	1.23%	–
PX	New	PRAXAIR	$5,596,000	–	46,812	–	1.16%	–
LOW	New	LOWE'S	$5,524,000	–	82,490	–	1.14%	–
SNA	New	SNAP-ON	$5,392,000	–	33,956	–	1.12%	–
COST	New	COSTCO WHOLESALE	$5,252,000	–	38,990	–	1.09%	–
CB	New	CHUBB	$5,183,000	–	54,575	–	1.07%	–
POWR	New	POWERSECURE INTERNATIONAL	$4,946,000	–	339,876	–	1.02%	–
VZ	New	VERIZON COMMUNICATIONS	$4,916,000	–	108,368	–	1.02%	–
CVX	New	CHEVRON	$4,779,000	–	49,636	–	0.99%	–
	New	ENERGEN	$4,545,000	–	67,142	–	0.94%	–
BDX	New	BECTON DICKINSON	$4,511,000	–	31,843	–	0.94%	–
KMB	New	KIMBERLY-CLARK	$4,408,000	–	41,701	–	0.91%	–
	New	PUBLIC STORAGE	$4,345,000	–	23,568	–	0.90%	–
SNI	New	SCRIPPS NETWORKS INTERACTI	$4,333,000	–	66,280	–	0.90%	–
LLY	New	LILLY ELI	$4,128,000	–	49,439	–	0.86%	–
CALD	New	CALLIDUS SOFTWARE INC	$4,128,000	–	268,123	–	0.86%	–
NTRI	New	NUTRISYSTEM INC	$4,085,000	–	167,986	–	0.85%	–
EFA	New	ISHARES MSCI EAFE INDEXetf	$3,560,000	–	56,075	–	0.74%	–
CMD	New	CANTEL MEDICAL CORP	$3,479,000	–	65,237	–	0.72%	–
ATRO	New	ASTRONICS CORP	$3,308,000	–	47,338	–	0.68%	–
LPSN	New	LIVEPERSON INC	$3,172,000	–	327,844	–	0.66%	–
DWM	New	WISDOMTREE DEFA INDEX	$3,157,000	–	61,848	–	0.65%	–
SYY	New	SYSCO	$3,141,000	–	87,868	–	0.65%	–
T	New	A T & T NEW	$3,103,000	–	90,666	–	0.64%	–
TASR	New	TASER INTERNATIONAL INC	$3,038,000	–	92,487	–	0.63%	–
IMAX	New	IMAX CORP	$2,977,000	–	75,999	–	0.62%	–
NVEC	New	NVE CORP	$2,953,000	–	38,449	–	0.61%	–
COP	New	CONOCOPHILLIPS	$2,948,000	–	48,008	–	0.61%	–
ACN	New	ACCENTURE	$2,903,000	–	30,000	–	0.60%	–
VIVO	New	MERIDIAN BIOSCIENCE INC	$2,847,000	–	154,922	–	0.59%	–
CRY	New	CRYOLIFE INC	$2,747,000	–	249,213	–	0.57%	–
SFLY	New	SHUTTERFLY INC	$2,697,000	–	57,398	–	0.56%	–
ITW	New	ILLINOIS TOOL WORKS	$2,566,000	–	25,750	–	0.53%	–
ZIXI	New	ZIX CORP	$2,530,000	–	495,677	–	0.52%	–
ADP	New	AUTOMATIC DATA PROCESSING	$2,481,000	–	30,918	–	0.51%	–
CAT	New	CATERPILLAR	$2,441,000	–	28,775	–	0.51%	–
OFC	New	CORPORATE OFFICE PROPERTIE	$2,342,000	–	100,865	–	0.48%	–
AVAV	New	AEROVIRONMENT INC	$2,308,000	–	89,460	–	0.48%	–
IRBT	New	IROBOT CORP	$2,306,000	–	73,942	–	0.48%	–
CL	New	COLGATE-PALMOLIVE	$2,235,000	–	34,175	–	0.46%	–
WBA	New	WALGREENS BOOTS ALLIANCE	$2,165,000	–	25,642	–	0.45%	–
VSS	New	VANGUARD FTSE ALL-WORLD EX	$2,128,000	–	20,884	–	0.44%	–
BRKA	New	BERKSHIRE HATHAWAY CL A	$2,049,000	–	10	–	0.42%	–
MTDR	New	MATADOR RESOURCES CO	$2,042,000	–	82,458	–	0.42%	–
TCAP	New	TRIANGLE CAPITAL CORP	$2,007,000	–	87,081	–	0.42%	–
MNR	New	MONMOUTH REAL ESTATE INVES	$2,000,000	–	208,585	–	0.41%	–
TNGO	New	TANGOE INC	$1,998,000	–	160,931	–	0.41%	–
ROSE	New	ROSETTA RESOURCES INC	$1,856,000	–	81,378	–	0.38%	–
ACETQ	New	ACETO CORP	$1,803,000	–	74,314	–	0.37%	–
SEAC	New	SEACHANGE INTERNATIONAL I	$1,762,000	–	255,372	–	0.36%	–
MGRC	New	MCGRATH RENTCORP	$1,748,000	–	57,823	–	0.36%	–
TFM	New	THE FRESH MARKET INC	$1,634,000	–	50,845	–	0.34%	–
RAVN	New	RAVEN INDUSTRIES INC	$1,622,000	–	80,905	–	0.34%	–
PG	New	PROCTER & GAMBLE	$1,615,000	–	22,586	–	0.34%	–
NPBC	New	NATIONAL PENN BANCSHARES	$1,509,000	–	134,662	–	0.31%	–
QSII	New	QUALITY SYSTEMS INC	$1,509,000	–	92,371	–	0.31%	–
FARM	New	FARMER BROTHERS CO	$1,426,000	–	61,653	–	0.30%	–
GLPI	New	GAMING & LEISURE PROPERTIE	$1,345,000	–	36,675	–	0.28%	–
JNJ	New	JOHNSON & JOHNSON	$1,166,000	–	12,663	–	0.24%	–
KO	New	COCA-COLA	$1,089,000	–	27,750	–	0.23%	–
IJR	New	ISHARES CORE S&P SMALL-CAPetf	$967,000	–	8,205	–	0.20%	–
CME	New	CME GROUP	$791,000	–	8,500	–	0.16%	–
GE	New	GENERAL ELECTRIC	$760,000	–	28,599	–	0.16%	–
PENN	New	PENN NATIONAL GAMING	$532,000	–	29,017	–	0.11%	–
UPS	New	UNITED PARCEL SERVICE CL B	$522,000	–	6,681	–	0.11%	–
EEM	New	ISHARES MSCI EMERGING MARKetf	$507,000	–	12,800	–	0.10%	–
KMI	New	KINDER MORGAN	$493,000	–	12,832	–	0.10%	–
UNP	New	UNION PACIFIC	$484,000	–	5,080	–	0.10%	–
CDK	New	CDK GLOBAL	$450,000	–	8,335	–	0.09%	–
IRMD	New	IRADIMED CORP	$442,000	–	19,000	–	0.09%	–
NSC	New	NORFOLK SOUTHERN	$432,000	–	4,950	–	0.09%	–
ADEP	New	ADEPT TECHNOLOGY INC	$410,000	–	57,000	–	0.08%	–
DOV	New	DOVER	$403,000	–	5,746	–	0.08%	–
CHKE	New	CHEROKEE INC	$389,000	–	13,808	–	0.08%	–
CBS	New	CVS HEALTH	$390,000	–	3,722	–	0.08%	–
SKUL	New	SKULLCANDY INC	$360,000	–	47,000	–	0.08%	–
SWKS	New	SKYWORKS SOLUTIONS	$312,000	–	3,000	–	0.06%	–
BGFV	New	BIG 5 SPORTING GOODS CORP	$310,000	–	21,836	–	0.06%	–
AGN	New	ALLERGAN	$303,000	–	1,000	–	0.06%	–
BAX	New	BAXTER INTERNATIONAL	$297,000	–	4,242	–	0.06%	–
HD	New	HOME DEPOT	$299,000	–	2,692	–	0.06%	–
CCNE	New	CNB FINANCIAL CORP	$300,000	–	16,300	–	0.06%	–
USPH	New	US PHYSICAL THERAPY INC	$301,000	–	5,500	–	0.06%	–
IBM	New	INTERNATIONAL BUSINESS MAC	$283,000	–	1,742	–	0.06%	–
DLTR	New	DOLLAR TREE	$269,000	–	3,400	–	0.06%	–
MIDD	New	MIDDLEBY CORP	$269,000	–	2,400	–	0.06%	–
UMH	New	UMH PROPERTIES INC	$264,000	–	26,913	–	0.06%	–
RMCF	New	ROCKY MOUNTAIN CHOCOLATE F	$253,000	–	19,200	–	0.05%	–
SLP	New	SIMULATIONS PLUS INC	$247,000	–	39,457	–	0.05%	–
CWCO	New	CONSOLIDATED WATER CO	$246,000	–	19,500	–	0.05%	–
MO	New	ALTRIA GROUP	$245,000	–	5,014	–	0.05%	–
NVEE	New	NV5 HOLDINGS INC	$243,000	–	10,056	–	0.05%	–
BMTC	New	BRYN MAWR BANK CORP	$243,000	–	8,047	–	0.05%	–
FC	New	FRANKLIN COVEY CO	$243,000	–	12,000	–	0.05%	–
ORBC	New	ORBCOMM INC	$236,000	–	35,000	–	0.05%	–
LIOX	New	LIONBRIDGE TECHNOLOGIES I	$237,000	–	38,424	–	0.05%	–
ESRX	New	EXPRESS SCRIPTS HOLDING	$230,000	–	2,583	–	0.05%	–
FCBC	New	FIRST COMMUNITY BANCSHARES	$230,000	–	12,600	–	0.05%	–
AHH	New	ARMADA HOFFLER PROPERTIES	$232,000	–	23,240	–	0.05%	–
CZNC	New	CITIZENS & NORTHERN CORP	$226,000	–	11,000	–	0.05%	–
DUK	New	DUKE ENERGY	$226,000	–	3,206	–	0.05%	–
AVID	New	AVID TECHNOLOGY INC	$227,000	–	17,000	–	0.05%	–
O	New	REALTY INCOME	$221,000	–	4,975	–	0.05%	–
BP	New	BP PLC ADR	$215,000	–	5,376	–	0.04%	–
IDSY	New	ID SYSTEMS INC	$216,000	–	35,408	–	0.04%	–
	New	AMAZONCOM	$217,000	–	500	–	0.04%	–
TAXA	New	LIBERTY TAX INC	$210,000	–	8,500	–	0.04%	–
STRM	New	STREAMLINE HEALTH SOLUTION	$214,000	–	76,585	–	0.04%	–
UTMD	New	UTAH MEDICAL PRODUCTS INC	$214,000	–	3,591	–	0.04%	–
TTE	New	TOTAL S A ADR	$209,000	–	4,250	–	0.04%	–
LBAI	New	LAKELAND BANCORP INC	$200,000	–	16,833	–	0.04%	–
PMD	New	PSYCHEMEDICS CORP	$188,000	–	12,700	–	0.04%	–
CBKCQ	New	CHRISTOPHER & BANKS CORP	$174,000	–	43,500	–	0.04%	–
OESX	New	ORION ENERGY SYSTEMS INC	$170,000	–	67,834	–	0.04%	–
PPSI	New	PIONEER POWER SOLUTIONS I	$143,000	–	20,000	–	0.03%	–
RVLT	New	REVOLUTION LIGHTING TECHNO	$145,000	–	125,000	–	0.03%	–
FHCO	New	FEMALE HEALTH CO	$135,000	–	75,000	–	0.03%	–
XONE	New	EXONE CO	$133,000	–	12,000	–	0.03%	–
PQ	New	PETROQUEST ENERGY INC	$96,000	–	48,311	–	0.02%	–
	New	WAL-MART DE MEXICO SAB DE	$26,000	–	10,520	–	0.01%	–

Q4 2014

			Value		Shares		↓ Weighting
	Exit	WAL-MART DE MEXICO SAB DE CV O	$0	–	-10,520	–	-0.01%	–
MEET	Exit	MEETME INC	$0	–	-25,000	–	-0.01%	–
EMAN	Exit	EMAGIN CORP	$0	–	-47,910	–	-0.03%	–
IRMD	Exit	IRADIMED	$0	–	-17,000	–	-0.03%	–
OMEX	Exit	ODYSSEY MARINE EXPLORATION IN	$0	–	-130,000	–	-0.03%	–
NVEE	Exit	NV5 HOLDINGS INC	$0	–	-15,000	–	-0.03%	–
	Exit	CONSOLIDATED WATER CO	$0	–	-13,000	–	-0.04%	–
PPSI	Exit	PIONEER POWER SOLUTIONS INC	$0	–	-20,000	–	-0.04%	–
FULT	Exit	FULTON FINANCIAL	$0	–	-15,593	–	-0.04%	–
FCBC	Exit	FIRST COMMUNITY BANCSHARES IN	$0	–	-12,600	–	-0.04%	–
PMD	Exit	PSYCHEMEDICS CORP	$0	–	-12,700	–	-0.04%	–
ZEP	Exit	ZEP INC	$0	–	-13,000	–	-0.04%	–
SKUL	Exit	SKULLCANDY INC	$0	–	-25,000	–	-0.05%	–
IJH	Exit	ISHARES S&P MIDCAP 400 INDEXetf	$0	–	-1,475	–	-0.05%	–
ORBC	Exit	ORBCOMM INC	$0	–	-35,000	–	-0.05%	–
GLD	Exit	SPDR GOLD SHARESetf	$0	–	-1,750	–	-0.05%	–
BGFV	Exit	BIG 5 SPORTING GOODS CORP	$0	–	-21,836	–	-0.05%	–
FMC	Exit	FMC CORP	$0	–	-3,600	–	-0.05%	–
MO	Exit	ALTRIA GROUP	$0	–	-4,436	–	-0.05%	–
PETS	Exit	PETMED EXPRESS INC	$0	–	-15,000	–	-0.05%	–
AMGN	Exit	AMGEN	$0	–	-1,500	–	-0.05%	–
DLN	Exit	WISDOMTREE LARGECAP DIVIDEND Ietf	$0	–	-2,965	–	-0.05%	–
ADEP	Exit	ADEPT TECHNOLOGY INC	$0	–	-25,000	–	-0.05%	–
OESX	Exit	ORION ENERGY SYSTEMS INC	$0	–	-38,934	–	-0.05%	–
CZNC	Exit	CITIZENS & NORTHERN CORP	$0	–	-11,000	–	-0.05%	–
STRM	Exit	STREAMLINE HEALTH SOLUTIONS	$0	–	-48,385	–	-0.05%	–
WRESQ	Exit	WARREN RESOURCES INC	$0	–	-42,000	–	-0.05%	–
HD	Exit	HOME DEPOT	$0	–	-2,434	–	-0.05%	–
BMTC	Exit	BRYN MAWR BANK CORP	$0	–	-8,047	–	-0.06%	–
CCNE	Exit	CNB FINANCIAL CORP	$0	–	-14,300	–	-0.06%	–
PHX	Exit	PANHANDLE OIL & GAS INC	$0	–	-3,838	–	-0.06%	–
FHCO	Exit	FEMALE HEALTH CO	$0	–	-65,500	–	-0.06%	–
	Exit	SPDR S&P MIDCAP 400etf	$0	–	-920	–	-0.06%	–
FC	Exit	FRANKLIN COVEY CO	$0	–	-12,000	–	-0.06%	–
DUK	Exit	DUKE ENERGY	$0	–	-3,141	–	-0.06%	–
UMH	Exit	UMH PROPERTIES INC	$0	–	-24,513	–	-0.06%	–
SZMK	Exit	SIZMEK INC	$0	–	-30,700	–	-0.06%	–
RMCF	Exit	ROCKY MOUNTAIN CHOCOLATE FACTO	$0	–	-19,200	–	-0.06%	–
MON	Exit	MONSANTO NEW	$0	–	-2,200	–	-0.06%	–
IDSY	Exit	ID SYSTEMS INC	$0	–	-35,408	–	-0.06%	–
CHKE	Exit	CHEROKEE INC	$0	–	-14,808	–	-0.07%	–
TTE	Exit	TOTAL S A ADR	$0	–	-4,250	–	-0.07%	–
SLP	Exit	SIMULATIONS PLUS INC	$0	–	-39,457	–	-0.07%	–
BP	Exit	BP PLC ADR	$0	–	-6,484	–	-0.07%	–
MNR	Exit	MONMOUTH REAL ESTATE INVESTMEN	$0	–	-28,700	–	-0.07%	–
INTU	Exit	INTUIT	$0	–	-3,800	–	-0.08%	–
BAX	Exit	BAXTER INTERNATIONAL	$0	–	-4,692	–	-0.08%	–
CDK	Exit	CDK GLOBAL	$0	–	-11,017	–	-0.08%	–
PENN	Exit	PENN NATIONAL GAMING	$0	–	-30,142	–	-0.08%	–
BAC	Exit	BANK OF AMERICA	$0	–	-21,887	–	-0.09%	–
APC	Exit	ANADARKO PETROLEUM	$0	–	-3,900	–	-0.10%	–
GE	Exit	GENERAL ELECTRIC	$0	–	-17,519	–	-0.11%	–
OXY	Exit	OCCIDENTAL PETROLEUM	$0	–	-4,950	–	-0.12%	–
IDXX	Exit	IDEXX LABORATORIES	$0	–	-4,200	–	-0.12%	–
QQQ	Exit	POWERSHARES QQQ TRUST	$0	–	-5,100	–	-0.12%	–
EEM	Exit	ISHARES MSCI EMERGING MARKETSetf	$0	–	-12,800	–	-0.13%	–
NSC	Exit	NORFOLK SOUTHERN	$0	–	-4,950	–	-0.13%	–
UNP	Exit	UNION PACIFIC	$0	–	-5,330	–	-0.14%	–
NVS	Exit	NOVARTIS SPONSORED ADR	$0	–	-6,284	–	-0.14%	–
ATROB	Exit	ASTRONICS CORP CLASS B	$0	–	-12,910	–	-0.15%	–
NTRS	Exit	NORTHERN TRUST CORP	$0	–	-9,102	–	-0.15%	–
UPS	Exit	UNITED PARCEL SERVICE B	$0	–	-6,681	–	-0.16%	–
CME	Exit	CME GROUP	$0	–	-8,500	–	-0.16%	–
DOV	Exit	DOVER	$0	–	-10,546	–	-0.21%	–
KMB	Exit	KIMBERLY-CLARK	$0	–	-8,684	–	-0.23%	–
GLPI	Exit	GAMING & LEISURE PROPERTIES	$0	–	-36,293	–	-0.27%	–
QSII	Exit	QUALITY SYSTEMS INC	$0	–	-93,826	–	-0.31%	–
NPBC	Exit	NATIONAL PENN BANCSHARES	$0	–	-134,886	–	-0.32%	–
VSS	Exit	VANGUARD FTSE ALL-WORLD EX-USetf	$0	–	-12,904	–	-0.32%	–
FSYS	Exit	FUEL SYSTEMS SOLUTIONS INC	$0	–	-148,727	–	-0.32%	–
XCO	Exit	EXCO RESOURCES INC	$0	–	-398,497	–	-0.32%	–
WAG	Exit	WALGREEN	$0	–	-22,610	–	-0.32%	–
KO	Exit	COCA-COLA	$0	–	-31,700	–	-0.33%	–
ROSE	Exit	ROSETTA RESOURCES INC	$0	–	-31,941	–	-0.35%	–
ACETQ	Exit	ACETO CORP	$0	–	-83,771	–	-0.39%	–
IIVI	Exit	II-VI INC	$0	–	-145,791	–	-0.42%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-16,660	–	-0.43%	–
SEAC	Exit	SEACHANGE INTERNATIONAL INC	$0	–	-258,732	–	-0.44%	–
AVAV	Exit	AEROVIRONMENT INC	$0	–	-60,260	–	-0.44%	–
VIVO	Exit	MERIDIAN BIOSCIENCE INC	$0	–	-108,968	–	-0.47%	–
LF	Exit	LEAPFROG ENTERPRISES INC	$0	–	-324,307	–	-0.47%	–
MGRC	Exit	MCGRATH RENTCORP	$0	–	-57,995	–	-0.48%	–
ITW	Exit	ILLINOIS TOOL WORKS	$0	–	-24,000	–	-0.49%	–
IMAX	Exit	IMAX CORP	$0	–	-75,726	–	-0.50%	–
FARM	Exit	FARMER BROTHERS CO	$0	–	-73,437	–	-0.52%	–
PG	Exit	PROCTER & GAMBLE	$0	–	-25,921	–	-0.53%	–
TCAP	Exit	TRIANGLE CAPITAL CORP	$0	–	-86,524	–	-0.53%	–
CL	Exit	COLGATE-PALMOLIVE	$0	–	-33,585	–	-0.53%	–
CAT	Exit	CATERPILLAR	$0	–	-22,350	–	-0.54%	–
IRBT	Exit	IROBOT CORP	$0	–	-72,980	–	-0.54%	–
BRKA	Exit	BERKSHIRE HATHAWAY CL A	$0	–	-11	–	-0.55%	–
CMD	Exit	CANTEL MEDICAL CORP	$0	–	-66,444	–	-0.56%	–
ACN	Exit	ACCENTURE	$0	–	-30,000	–	-0.59%	–
LLY	Exit	LILLY ELI	$0	–	-37,740	–	-0.59%	–
CRY	Exit	CRYOLIFE INC	$0	–	-254,939	–	-0.61%	–
NVEC	Exit	NVE CORP	$0	–	-39,280	–	-0.62%	–
NTRI	Exit	NUTRISYSTEM INC	$0	–	-167,100	–	-0.62%	–
OFC	Exit	CORPORATE OFFICE PROPERTIES TR	$0	–	-101,219	–	-0.63%	–
ADP	Exit	AUTOMATIC DATA PROCESSING	$0	–	-33,198	–	-0.67%	–
SFLY	Exit	SHUTTERFLY INC	$0	–	-59,553	–	-0.70%	–
DWM	Exit	WISDOMTREE DEFA INDEXetf	$0	–	-57,699	–	-0.73%	–
EFA	Exit	ISHARES MSCI EAFE INDEXetf	$0	–	-48,060	–	-0.75%	–
AME	Exit	AMETEK	$0	–	-61,550	–	-0.75%	–
ATRO	Exit	ASTRONICS CORP	$0	–	-64,777	–	-0.75%	–
BDX	Exit	BECTON DICKINSON	$0	–	-27,539	–	-0.76%	–
VWO	Exit	VANGUARD MSCI EMERGING MARKETSetf	$0	–	-77,175	–	-0.78%	–
POWR	Exit	POWERSECURE INTERNATIONAL INC	$0	–	-342,758	–	-0.80%	–
T	Exit	A T & T NEW	$0	–	-95,934	–	-0.82%	–
TYL	Exit	TYLER TECHNOLOGIES INC	$0	–	-38,936	–	-0.84%	–
LPSN	Exit	LIVEPERSON INC	$0	–	-274,062	–	-0.84%	–
SYY	Exit	SYSCO	$0	–	-92,823	–	-0.86%	–
	Exit	ENERGEN	$0	–	-51,592	–	-0.90%	–
	Exit	PUBLIC STORAGE	$0	–	-22,667	–	-0.91%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHINE	$0	–	-20,002	–	-0.92%	–
SYK	Exit	STRYKER	$0	–	-48,685	–	-0.95%	–
CB	Exit	CHUBB	$0	–	-45,280	–	-1.00%	–
AXP	Exit	AMERICAN EXPRESS	$0	–	-48,265	–	-1.03%	–
COST	Exit	COSTCO WHOLESALE	$0	–	-34,895	–	-1.06%	–
ADBE	Exit	ADOBE SYSTEMS	$0	–	-63,305	–	-1.06%	–
SNA	Exit	SNAP-ON	$0	–	-36,605	–	-1.08%	–
VZ	Exit	VERIZON COMMUNICATIONS	$0	–	-89,715	–	-1.09%	–
CALD	Exit	CALLIDUS SOFTWARE INC	$0	–	-388,756	–	-1.14%	–
SNI	Exit	SCRIPPS NETWORKS INTERACTIVE	$0	–	-61,840	–	-1.17%	–
JWN	Exit	NORDSTROM	$0	–	-71,570	–	-1.19%	–
ETN	Exit	EATON	$0	–	-77,435	–	-1.19%	–
CSCO	Exit	CISCO SYSTEMS	$0	–	-198,225	–	-1.21%	–
PFE	Exit	PFIZER	$0	–	-170,057	–	-1.22%	–
JPM	Exit	JPMORGAN CHASE	$0	–	-83,957	–	-1.23%	–
UTX	Exit	UNITED TECHNOLOGIES	$0	–	-48,739	–	-1.25%	–
MSFT	Exit	MICROSOFT	$0	–	-113,909	–	-1.28%	–
PX	Exit	PRAXAIR	$0	–	-41,325	–	-1.29%	–
PNC	Exit	PNC FINANCIAL SERVICES GROUP	$0	–	-62,845	–	-1.31%	–
MTB	Exit	M&T BANK CORP	$0	–	-44,015	–	-1.32%	–
ABBV	Exit	ABBVIE	$0	–	-95,416	–	-1.34%	–
WFC	Exit	WELLS FARGO	$0	–	-106,717	–	-1.34%	–
LOW	Exit	LOWES	$0	–	-107,278	–	-1.38%	–
COP	Exit	CONOCOPHILLIPS	$0	–	-74,543	–	-1.38%	–
ABT	Exit	ABBOTT LABORATORIES	$0	–	-138,831	–	-1.40%	–
XRAY	Exit	DENTSPLY INTERNATIONAL	$0	–	-131,648	–	-1.46%	–
MMM	Exit	3M COMPANY	$0	–	-43,255	–	-1.49%	–
SLB	Exit	SCHLUMBERGER	$0	–	-60,559	–	-1.50%	–
MRK	Exit	MERCK	$0	–	-105,483	–	-1.52%	–
QCOM	Exit	QUALCOMM	$0	–	-85,376	–	-1.55%	–
NKE	Exit	NIKE	$0	–	-72,535	–	-1.57%	–
DD	Exit	DUPONT DE NEMOURS	$0	–	-92,089	–	-1.60%	–
WMB	Exit	WILLIAMS COMPANIES	$0	–	-119,453	–	-1.60%	–
CSX	Exit	CSX	$0	–	-213,180	–	-1.66%	–
CVX	Exit	CHEVRON	$0	–	-58,590	–	-1.70%	–
DIS	Exit	DISNEY WALT	$0	–	-86,885	–	-1.88%	–
PEP	Exit	PEPSICO	$0	–	-85,661	–	-1.94%	–
XOM	Exit	EXXONMOBIL	$0	–	-92,446	–	-2.11%	–
AAPL	Exit	APPLE	$0	–	-90,417	–	-2.21%	–
IWM	Exit	ISHARES RUSSELL 2000 INDEXetf	$0	–	-135,500	–	-3.60%	–
SPY	Exit	SPDR S & P 500 INDEXetf	$0	–	-224,620	–	-10.74%	–

Q3 2014

			Value		Shares		↓ Weighting
SPY	Sell	SPDR S & P 500 INDEXetf	$44,255,000	-22.3%	224,620	-22.8%	10.74%	-20.9%
IWM	Sell	ISHARES RUSSELL 2000 INDEXetf	$14,817,000	-8.6%	135,500	-0.7%	3.60%	-7.0%
AAPL	Buy	APPLE	$9,110,000	+15.0%	90,417	+6.0%	2.21%	+17.0%
XOM	Buy	EXXONMOBIL	$8,695,000	+67.8%	92,446	+79.6%	2.11%	+70.8%
PEP	Buy	PEPSICO	$7,974,000	+7.7%	85,661	+3.4%	1.94%	+9.7%
DIS	Buy	DISNEY WALT	$7,735,000	+7.8%	86,885	+3.8%	1.88%	+9.7%
CVX	Buy	CHEVRON	$6,991,000	+17.4%	58,590	+28.4%	1.70%	+19.4%
CSX	Buy	CSX	$6,835,000	+10.6%	213,180	+6.2%	1.66%	+12.5%
WMB	Sell	WILLIAMS COMPANIES	$6,612,000	-16.2%	119,453	-11.9%	1.60%	-14.7%
DD	Buy	DUPONT DE NEMOURS	$6,608,000	+16.0%	92,089	+5.7%	1.60%	+18.0%
NKE	Buy	NIKE	$6,470,000	+20.7%	72,535	+4.9%	1.57%	+22.8%
QCOM	Buy	QUALCOMM	$6,384,000	-1.7%	85,376	+4.1%	1.55%	+0.1%
MRK	Buy	MERCK	$6,253,000	+2.8%	105,483	+0.3%	1.52%	+4.6%
SLB	Buy	SCHLUMBERGER	$6,158,000	-5.5%	60,559	+9.6%	1.50%	-3.8%
MMM	Buy	3M COMPANY	$6,128,000	+3.2%	43,255	+4.3%	1.49%	+5.0%
XRAY	Buy	DENTSPLY INTERNATIONAL	$6,003,000	-0.6%	131,648	+3.2%	1.46%	+1.2%
ABT	Buy	ABBOTT LABORATORIES	$5,774,000	+5.1%	138,831	+3.4%	1.40%	+7.0%
COP	Buy	CONOCOPHILLIPS	$5,704,000	+160.2%	74,543	+191.5%	1.38%	+164.8%
LOW	Buy	LOWES	$5,677,000	+40.7%	107,278	+27.6%	1.38%	+43.2%
WFC	Buy	WELLS FARGO	$5,535,000	+0.3%	106,717	+1.6%	1.34%	+2.1%
ABBV	Buy	ABBVIE	$5,511,000	+11.4%	95,416	+8.8%	1.34%	+13.4%
MTB	Buy	M&T BANK CORP	$5,427,000	+5.9%	44,015	+6.5%	1.32%	+7.8%
PNC	Buy	PNC FINANCIAL SERVICES GROUP	$5,378,000	+2.4%	62,845	+6.6%	1.31%	+4.2%
PX	Buy	PRAXAIR	$5,331,000	+5.8%	41,325	+8.9%	1.29%	+7.7%
MSFT	Buy	MICROSOFT	$5,281,000	+23.2%	113,909	+10.8%	1.28%	+25.4%
UTX	Buy	UNITED TECHNOLOGIES	$5,147,000	-0.0%	48,739	+9.3%	1.25%	+1.8%
JPM	Buy	JPMORGAN CHASE	$5,058,000	+10.0%	83,957	+5.2%	1.23%	+11.9%
PFE	Buy	PFIZER	$5,029,000	+1.1%	170,057	+1.5%	1.22%	+3.0%
CSCO	Buy	CISCO SYSTEMS	$4,989,000	+9.5%	198,225	+8.1%	1.21%	+11.4%
ETN	Buy	EATON	$4,907,000	-11.9%	77,435	+7.3%	1.19%	-10.4%
JWN	Buy	NORDSTROM	$4,893,000	+9.7%	71,570	+9.0%	1.19%	+11.7%
SNI	Buy	SCRIPPS NETWORKS INTERACTIVE	$4,829,000	+3.7%	61,840	+7.7%	1.17%	+5.6%
CALD	Buy	CALLIDUS SOFTWARE INC	$4,673,000	+2.1%	388,756	+1.4%	1.14%	+3.9%
VZ	Buy	VERIZON COMMUNICATIONS	$4,485,000	+7.9%	89,715	+5.6%	1.09%	+9.9%
SNA	Sell	SNAP-ON	$4,432,000	+1.8%	36,605	-0.4%	1.08%	+3.6%
ADBE	Buy	ADOBE SYSTEMS	$4,380,000	+14.0%	63,305	+19.2%	1.06%	+16.0%
COST	Buy	COSTCO WHOLESALE	$4,373,000	+26.7%	34,895	+16.4%	1.06%	+29.0%
AXP	Buy	AMERICAN EXPRESS	$4,225,000	+11.2%	48,265	+20.5%	1.03%	+13.1%
CB	Buy	CHUBB	$4,124,000	+7.9%	45,280	+9.2%	1.00%	+9.8%
SYK	Buy	STRYKER	$3,931,000	+13.0%	48,685	+18.0%	0.95%	+14.9%
IBM	Buy	INTERNATIONAL BUSINESS MACHINE	$3,797,000	+9.0%	20,002	+4.1%	0.92%	+11.0%
	Buy	PUBLIC STORAGE	$3,759,000	+1.1%	22,667	+4.4%	0.91%	+2.9%
	Buy	ENERGEN	$3,727,000	-14.0%	51,592	+5.8%	0.90%	-12.5%
SYY	Buy	SYSCO	$3,523,000	+6.0%	92,823	+4.6%	0.86%	+7.8%
LPSN	Buy	LIVEPERSON INC	$3,450,000	+25.5%	274,062	+1.2%	0.84%	+27.7%
TYL	Buy	TYLER TECHNOLOGIES INC	$3,442,000	-2.5%	38,936	+0.6%	0.84%	-0.7%
T	Sell	A T & T NEW	$3,381,000	-4.3%	95,934	-4.0%	0.82%	-2.6%
POWR	Buy	POWERSECURE INTERNATIONAL INC	$3,284,000	-1.3%	342,758	+0.3%	0.80%	+0.4%
VWO	Buy	VANGUARD MSCI EMERGING MARKETSetf	$3,219,000	+0.7%	77,175	+4.1%	0.78%	+2.6%
BDX	Buy	BECTON DICKINSON	$3,134,000	+8.9%	27,539	+13.2%	0.76%	+10.8%
ATRO	Buy	ASTRONICS CORP	$3,089,000	-14.8%	64,777	+0.9%	0.75%	-13.3%
AME	Sell	AMETEK	$3,090,000	-8.6%	61,550	-4.8%	0.75%	-6.9%
EFA	Sell	ISHARES MSCI EAFE INDEXetf	$3,082,000	-6.9%	48,060	-0.7%	0.75%	-5.3%
DWM	Sell	WISDOMTREE DEFA INDEXetf	$3,015,000	-7.2%	57,699	-0.6%	0.73%	-5.5%
SFLY	Buy	SHUTTERFLY INC	$2,903,000	+13.7%	59,553	+0.4%	0.70%	+15.8%
ADP	Buy	AUTOMATIC DATA PROCESSING	$2,758,000	+5.4%	33,198	+0.6%	0.67%	+7.4%
OFC	Buy	CORPORATE OFFICE PROPERTIES TR	$2,603,000	-7.4%	101,219	+0.1%	0.63%	-5.8%
NTRI	Sell	NUTRISYSTEM INC	$2,568,000	-10.2%	167,100	-0.0%	0.62%	-8.5%
NVEC	Sell	NVE CORP	$2,535,000	+15.4%	39,280	-0.6%	0.62%	+17.6%
CRY	Buy	CRYOLIFE INC	$2,516,000	+10.4%	254,939	+0.2%	0.61%	+12.5%
LLY	Buy	LILLY ELI	$2,447,000	+9.1%	37,740	+4.6%	0.59%	+11.0%
CMD	Buy	CANTEL MEDICAL CORP	$2,284,000	-6.0%	66,444	+0.1%	0.56%	-4.3%
IRBT	Buy	IROBOT CORP	$2,222,000	-25.5%	72,980	+0.2%	0.54%	-24.2%
CAT	Buy	CATERPILLAR	$2,213,000	+11.3%	22,350	+22.2%	0.54%	+13.3%
CL	Buy	COLGATE-PALMOLIVE	$2,190,000	+0.9%	33,585	+5.5%	0.53%	+2.7%
TCAP	Buy	TRIANGLE CAPITAL CORP	$2,191,000	-10.6%	86,524	+0.1%	0.53%	-9.1%
PG	Sell	PROCTER & GAMBLE	$2,171,000	+5.4%	25,921	-1.0%	0.53%	+7.3%
FARM	Buy	FARMER BROTHERS CO	$2,126,000	+273.6%	73,437	+178.8%	0.52%	+279.4%
IMAX	Buy	IMAX CORP	$2,079,000	-3.3%	75,726	+0.3%	0.50%	-1.6%
MGRC	Buy	MCGRATH RENTCORP	$1,983,000	-6.8%	57,995	+0.2%	0.48%	-5.3%
LF	Buy	LEAPFROG ENTERPRISES INC	$1,943,000	-17.5%	324,307	+1.2%	0.47%	-16.0%
VIVO	Buy	MERIDIAN BIOSCIENCE INC	$1,928,000	-14.0%	108,968	+0.3%	0.47%	-12.5%
AVAV	Buy	AEROVIRONMENT INC	$1,812,000	-5.4%	60,260	+0.0%	0.44%	-3.7%
SEAC	Buy	SEACHANGE INTERNATIONAL INC	$1,801,000	+35.4%	258,732	+55.8%	0.44%	+37.9%
JNJ	Buy	JOHNSON & JOHNSON	$1,776,000	+2.7%	16,660	+0.8%	0.43%	+4.4%
IIVI	Buy	II-VI INC	$1,716,000	-18.4%	145,791	+0.2%	0.42%	-16.9%
ACETQ	Sell	ACETO CORP	$1,618,000	+3.6%	83,771	-2.7%	0.39%	+5.4%
ROSE	Sell	ROSETTA RESOURCES INC	$1,423,000	-18.8%	31,941	-0.0%	0.35%	-17.2%
KO	Buy	COCA-COLA	$1,352,000	+406.4%	31,700	+403.2%	0.33%	+412.5%
WAG	Buy	WALGREEN	$1,340,000	-9.0%	22,610	+13.8%	0.32%	-7.4%
XCO	Buy	EXCO RESOURCES INC	$1,331,000	-43.1%	398,497	+0.4%	0.32%	-42.1%
FSYS	Buy	FUEL SYSTEMS SOLUTIONS INC	$1,325,000	-19.9%	148,727	+0.1%	0.32%	-18.5%
VSS	Buy	VANGUARD FTSE ALL-WORLD EX-USetf	$1,318,000	-3.7%	12,904	+4.8%	0.32%	-2.1%
NPBC	Sell	NATIONAL PENN BANCSHARES	$1,310,000	-19.4%	134,886	-12.2%	0.32%	-18.0%
QSII	Buy	QUALITY SYSTEMS INC	$1,292,000	-13.8%	93,826	+0.5%	0.31%	-12.0%
GLPI	Buy	GAMING & LEISURE PROPERTIES	$1,121,000	-8.8%	36,293	+0.3%	0.27%	-7.2%
KMB	Sell	KIMBERLY-CLARK	$934,000	-4.9%	8,684	-1.7%	0.23%	-3.0%
DOV	Sell	DOVER	$847,000	-13.9%	10,546	-2.5%	0.21%	-12.3%
CME	New	CME GROUP	$680,000	–	8,500	–	0.16%	–
UPS	Sell	UNITED PARCEL SERVICE B	$657,000	-94.1%	6,681	-93.8%	0.16%	-94.0%
ATROB	New	ASTRONICS CORP CLASS B	$613,000	–	12,910	–	0.15%	–
UNP	Sell	UNION PACIFIC	$578,000	+6.2%	5,330	-2.3%	0.14%	+7.7%
NSC	New	NORFOLK SOUTHERN	$552,000	–	4,950	–	0.13%	–
QQQ	New	POWERSHARES QQQ TRUST	$504,000	–	5,100	–	0.12%	–
IDXX	Sell	IDEXX LABORATORIES	$495,000	-32.7%	4,200	-23.6%	0.12%	-31.4%
OXY	Sell	OCCIDENTAL PETROLEUM	$476,000	-8.1%	4,950	-2.0%	0.12%	-6.5%
GE	Buy	GENERAL ELECTRIC	$449,000	+10.9%	17,519	+13.6%	0.11%	+12.4%
BAC	Sell	BANK OF AMERICA	$373,000	+6.9%	21,887	-3.7%	0.09%	+9.6%
CDK	New	CDK GLOBAL	$337,000	–	11,017	–	0.08%	–
PENN	Buy	PENN NATIONAL GAMING	$338,000	-7.4%	30,142	+0.3%	0.08%	-5.7%
BAX	Sell	BAXTER INTERNATIONAL	$337,000	-6.6%	4,692	-6.0%	0.08%	-4.7%
MNR	Sell	MONMOUTH REAL ESTATE INVESTMEN	$290,000	-5.8%	28,700	-6.5%	0.07%	-4.1%
TTE	New	TOTAL S A ADR	$274,000	–	4,250	–	0.07%	–
DUK	Sell	DUKE ENERGY	$235,000	-2.9%	3,141	-3.7%	0.06%	-1.7%
UMH	New	UMH PROPERTIES INC	$233,000	–	24,513	–	0.06%	–
FC	Sell	FRANKLIN COVEY CO	$235,000	-22.2%	12,000	-20.0%	0.06%	-20.8%
FHCO	Buy	FEMALE HEALTH CO	$229,000	-17.6%	65,500	+29.7%	0.06%	-15.2%
PHX	Sell	PANHANDLE OIL & GAS INC	$229,000	-37.6%	3,838	-41.4%	0.06%	-36.4%
	New	SPDR S&P MIDCAP 400etf	$229,000	–	920	–	0.06%	–
CCNE	Buy	CNB FINANCIAL CORP	$225,000	+18.4%	14,300	+26.5%	0.06%	+22.2%
HD	New	HOME DEPOT	$223,000	–	2,434	–	0.05%	–
WRESQ	Sell	WARREN RESOURCES INC	$223,000	-40.1%	42,000	-30.0%	0.05%	-39.3%
STRM	New	STREAMLINE HEALTH SOLUTIONS	$224,000	–	48,385	–	0.05%	–
AMGN	New	AMGEN	$211,000	–	1,500	–	0.05%	–
CZNC	Buy	CITIZENS & NORTHERN CORP	$209,000	+7.2%	11,000	+10.0%	0.05%	+8.5%
DLN	Sell	WISDOMTREE LARGECAP DIVIDEND Ietf	$211,000	-11.3%	2,965	-11.9%	0.05%	-10.5%
ADEP	New	ADEPT TECHNOLOGY INC	$210,000	–	25,000	–	0.05%	–
BGFV	Buy	BIG 5 SPORTING GOODS CORP	$205,000	-11.3%	21,836	+15.9%	0.05%	-9.1%
FMC	Sell	FMC CORP	$206,000	-25.9%	3,600	-7.7%	0.05%	-24.2%
PETS	New	PETMED EXPRESS INC	$204,000	–	15,000	–	0.05%	–
MO	New	ALTRIA GROUP	$204,000	–	4,436	–	0.05%	–
GLD	New	SPDR GOLD SHARESetf	$203,000	–	1,750	–	0.05%	–
ORBC	Buy	ORBCOMM INC	$201,000	+21.8%	35,000	+40.0%	0.05%	+25.6%
IJH	New	ISHARES S&P MIDCAP 400 INDEXetf	$202,000	–	1,475	–	0.05%	–
SKUL	New	SKULLCANDY INC	$195,000	–	25,000	–	0.05%	–
FULT	Sell	FULTON FINANCIAL	$173,000	-64.2%	15,593	-60.0%	0.04%	-63.5%
	Buy	CONSOLIDATED WATER CO	$152,000	+7.8%	13,000	+8.3%	0.04%	+8.8%
NVEE	New	NV5 HOLDINGS INC	$142,000	–	15,000	–	0.03%	–
OMEX	Buy	ODYSSEY MARINE EXPLORATION IN	$118,000	-38.9%	130,000	+13.0%	0.03%	-37.0%
IRMD	New	IRADIMED	$119,000	–	17,000	–	0.03%	–
MEET	New	MEETME INC	$49,000	–	25,000	–	0.01%	–
ONVO	Exit	ORGANOVO HOLDINGS INC	$0	–	-12,000	–	-0.02%	–
MDLZ	Exit	MONDELEZ INTERNATIONAL	$0	–	-24,590	–	-0.03%	–
BAGL	Exit	EINSTEIN NOAH RESTAURANT GROUP	$0	–	-11,500	–	-0.04%	–
PRGX	Exit	PRGX GLOBAL INC	$0	–	-31,000	–	-0.05%	–
FVE	Exit	FIVE STAR QUALITY CARE INC	$0	–	-40,000	–	-0.05%	–
DMRC	Exit	DIGIMARC CORP	$0	–	-7,240	–	-0.06%	–
AMRE	Exit	AMREIT INC	$0	–	-13,030	–	-0.06%	–
DAVE	Exit	FAMOUS DAVES OF AMERICA INC	$0	–	-10,000	–	-0.07%	–
MCD	Exit	MCDONALDS	$0	–	-11,440	–	-0.28%	–
CMI	Exit	CUMMINS	$0	–	-20,285	–	-0.75%	–

Q2 2014

			Value		Shares		↓ Weighting
SPY	New	SPDR S & P 500 INDEXetf	$56,929,000	–	290,870	–	13.58%	–
IWM	New	ISHARES RUSSELL 2000 INDEXetf	$16,218,000	–	136,500	–	3.87%	–
UPS	New	UNITED PARCEL SERVICE B	$11,087,000	–	107,993	–	2.64%	–
AAPL	New	APPLE	$7,925,000	–	85,274	–	1.89%	–
WMB	New	WILLIAMS COMPANIES	$7,890,000	–	135,543	–	1.88%	–
PEP	New	PEPSICO	$7,401,000	–	82,836	–	1.76%	–
DIS	New	DISNEY WALT	$7,178,000	–	83,715	–	1.71%	–
SLB	New	SCHLUMBERGER	$6,516,000	–	55,244	–	1.55%	–
QCOM	New	QUALCOMM	$6,494,000	–	81,991	–	1.55%	–
CSX	New	CSX	$6,182,000	–	200,660	–	1.48%	–
MRK	New	MERCK	$6,082,000	–	105,133	–	1.45%	–
XRAY	New	DENTSPLY INTERNATIONAL	$6,042,000	–	127,599	–	1.44%	–
CVX	New	CHEVRON	$5,956,000	–	45,625	–	1.42%	–
MMM	New	3M COMPANY	$5,939,000	–	41,460	–	1.42%	–
DD	New	DUPONT DE NEMOURS	$5,699,000	–	87,084	–	1.36%	–
ETN	New	EATON	$5,572,000	–	72,190	–	1.33%	–
WFC	New	WELLS FARGO	$5,520,000	–	105,026	–	1.32%	–
ABT	New	ABBOTT LABORATORIES	$5,492,000	–	134,281	–	1.31%	–
NKE	New	NIKE	$5,361,000	–	69,125	–	1.28%	–
PNC	New	PNC FINANCIAL SERVICES GROUP	$5,252,000	–	58,973	–	1.25%	–
XOM	New	EXXONMOBIL	$5,183,000	–	51,483	–	1.24%	–
UTX	New	UNITED TECHNOLOGIES	$5,149,000	–	44,599	–	1.23%	–
MTB	New	M&T BANK CORP	$5,126,000	–	41,325	–	1.22%	–
PX	New	PRAXAIR	$5,040,000	–	37,940	–	1.20%	–
PFE	New	PFIZER	$4,972,000	–	167,527	–	1.19%	–
ABBV	New	ABBVIE	$4,948,000	–	87,661	–	1.18%	–
SNI	New	SCRIPPS NETWORKS INTERACTIVE	$4,657,000	–	57,395	–	1.11%	–
JPM	New	JPMORGAN CHASE	$4,600,000	–	79,827	–	1.10%	–
CALD	New	CALLIDUS SOFTWARE INC	$4,578,000	–	383,447	–	1.09%	–
CSCO	New	CISCO SYSTEMS	$4,557,000	–	183,375	–	1.09%	–
JWN	New	NORDSTROM	$4,460,000	–	65,655	–	1.06%	–
SNA	New	SNAP-ON	$4,354,000	–	36,735	–	1.04%	–
	New	ENERGEN	$4,336,000	–	48,782	–	1.03%	–
MSFT	New	MICROSOFT	$4,286,000	–	102,784	–	1.02%	–
VZ	New	VERIZON COMMUNICATIONS	$4,155,000	–	84,926	–	0.99%	–
LOW	New	LOWES	$4,035,000	–	84,078	–	0.96%	–
ADBE	New	ADOBE SYSTEMS	$3,842,000	–	53,095	–	0.92%	–
CB	New	CHUBB	$3,823,000	–	41,480	–	0.91%	–
AXP	New	AMERICAN EXPRESS	$3,801,000	–	40,065	–	0.91%	–
	New	PUBLIC STORAGE	$3,719,000	–	21,702	–	0.89%	–
ATRO	New	ASTRONICS CORP	$3,625,000	–	64,221	–	0.86%	–
T	New	A T & T NEW	$3,533,000	–	99,904	–	0.84%	–
TYL	New	TYLER TECHNOLOGIES INC	$3,529,000	–	38,694	–	0.84%	–
IBM	New	INTERNATIONAL BUSINESS MACHINE	$3,483,000	–	19,212	–	0.83%	–
SYK	New	STRYKER	$3,478,000	–	41,250	–	0.83%	–
COST	New	COSTCO WHOLESALE	$3,452,000	–	29,980	–	0.82%	–
AME	New	AMETEK	$3,380,000	–	64,645	–	0.81%	–
POWR	New	POWERSECURE INTERNATIONAL INC	$3,328,000	–	341,634	–	0.79%	–
SYY	New	SYSCO	$3,324,000	–	88,768	–	0.79%	–
EFA	New	ISHARES MSCI EAFE INDEXetf	$3,310,000	–	48,420	–	0.79%	–
DWM	New	WISDOMTREE DEFA INDEXetf	$3,249,000	–	58,024	–	0.78%	–
VWO	New	VANGUARD MSCI EMERGING MARKETSetf	$3,196,000	–	74,100	–	0.76%	–
CMI	New	CUMMINS	$3,130,000	–	20,285	–	0.75%	–
IRBT	New	IROBOT CORP	$2,983,000	–	72,849	–	0.71%	–
BDX	New	BECTON DICKINSON	$2,879,000	–	24,337	–	0.69%	–
NTRI	New	NUTRISYSTEM INC	$2,859,000	–	167,101	–	0.68%	–
OFC	New	CORPORATE OFFICE PROPERTIES TR	$2,812,000	–	101,122	–	0.67%	–
LPSN	New	LIVEPERSON INC	$2,750,000	–	270,917	–	0.66%	–
ADP	New	AUTOMATIC DATA PROCESSING	$2,617,000	–	33,008	–	0.62%	–
SFLY	New	SHUTTERFLY INC	$2,553,000	–	59,298	–	0.61%	–
TCAP	New	TRIANGLE CAPITAL CORP	$2,452,000	–	86,431	–	0.58%	–
CMD	New	CANTEL MEDICAL CORP	$2,430,000	–	66,348	–	0.58%	–
ACN	New	ACCENTURE	$2,425,000	–	30,000	–	0.58%	–
LF	New	LEAPFROG ENTERPRISES INC	$2,356,000	–	320,596	–	0.56%	–
XCO	New	EXCO RESOURCES INC	$2,338,000	–	396,879	–	0.56%	–
CRY	New	CRYOLIFE INC	$2,278,000	–	254,501	–	0.54%	–
VIVO	New	MERIDIAN BIOSCIENCE INC	$2,242,000	–	108,615	–	0.54%	–
LLY	New	LILLY ELI	$2,243,000	–	36,085	–	0.54%	–
NVEC	New	NVE CORP	$2,196,000	–	39,505	–	0.52%	–
COP	New	CONOCOPHILLIPS	$2,192,000	–	25,573	–	0.52%	–
CL	New	COLGATE-PALMOLIVE	$2,170,000	–	31,830	–	0.52%	–
IMAX	New	IMAX CORP	$2,151,000	–	75,528	–	0.51%	–
MGRC	New	MCGRATH RENTCORP	$2,128,000	–	57,900	–	0.51%	–
IIVI	New	II-VI INC	$2,104,000	–	145,506	–	0.50%	–
ITW	New	ILLINOIS TOOL WORKS	$2,101,000	–	24,000	–	0.50%	–
BRKA	New	BERKSHIRE HATHAWAY CL A	$2,089,000	–	11	–	0.50%	–
PG	New	PROCTER & GAMBLE	$2,059,000	–	26,195	–	0.49%	–
CAT	New	CATERPILLAR	$1,988,000	–	18,290	–	0.47%	–
AVAV	New	AEROVIRONMENT INC	$1,916,000	–	60,251	–	0.46%	–
ROSE	New	ROSETTA RESOURCES INC	$1,752,000	–	31,944	–	0.42%	–
JNJ	New	JOHNSON & JOHNSON	$1,730,000	–	16,535	–	0.41%	–
FSYS	New	FUEL SYSTEMS SOLUTIONS INC	$1,655,000	–	148,574	–	0.40%	–
NPBC	New	NATIONAL PENN BANCSHARES	$1,625,000	–	153,545	–	0.39%	–
ACETQ	New	ACETO CORP	$1,562,000	–	86,094	–	0.37%	–
QSII	New	QUALITY SYSTEMS INC	$1,498,000	–	93,351	–	0.36%	–
WAG	New	WALGREEN	$1,473,000	–	19,865	–	0.35%	–
VSS	New	VANGUARD FTSE ALL-WORLD EX-USetf	$1,369,000	–	12,314	–	0.33%	–
SEAC	New	SEACHANGE INTERNATIONAL INC	$1,330,000	–	166,089	–	0.32%	–
GLPI	New	GAMING & LEISURE PROPERTIES	$1,229,000	–	36,173	–	0.29%	–
MCD	New	MCDONALDS	$1,152,000	–	11,440	–	0.28%	–
DOV	New	DOVER	$984,000	–	10,821	–	0.24%	–
KMB	New	KIMBERLY-CLARK	$982,000	–	8,834	–	0.23%	–
IDXX	New	IDEXX LABORATORIES	$735,000	–	5,500	–	0.18%	–
NTRS	New	NORTHERN TRUST CORP	$584,000	–	9,102	–	0.14%	–
FARM	New	FARMER BROTHERS CO	$569,000	–	26,342	–	0.14%	–
NVS	New	NOVARTIS SPONSORED ADR	$569,000	–	6,284	–	0.14%	–
EEM	New	ISHARES MSCI EMERGING MARKETSetf	$553,000	–	12,800	–	0.13%	–
UNP	New	UNION PACIFIC	$544,000	–	5,455	–	0.13%	–
OXY	New	OCCIDENTAL PETROLEUM	$518,000	–	5,050	–	0.12%	–
FULT	New	FULTON FINANCIAL	$483,000	–	39,023	–	0.12%	–
APC	New	ANADARKO PETROLEUM	$427,000	–	3,900	–	0.10%	–
GE	New	GENERAL ELECTRIC	$405,000	–	15,419	–	0.10%	–
WRESQ	New	WARREN RESOURCES INC	$372,000	–	60,000	–	0.09%	–
PHX	New	PANHANDLE OIL & GAS INC	$367,000	–	6,553	–	0.09%	–
PENN	New	PENN NATIONAL GAMING	$365,000	–	30,042	–	0.09%	–
BAX	New	BAXTER INTERNATIONAL	$361,000	–	4,992	–	0.09%	–
BAC	New	BANK OF AMERICA	$349,000	–	22,737	–	0.08%	–
BP	New	BP PLC ADR	$342,000	–	6,484	–	0.08%	–
INTU	New	INTUIT	$306,000	–	3,800	–	0.07%	–
MNR	New	MONMOUTH REAL ESTATE INVESTMEN	$308,000	–	30,700	–	0.07%	–
FC	New	FRANKLIN COVEY CO	$302,000	–	15,000	–	0.07%	–
SZMK	New	SIZMEK INC	$293,000	–	30,700	–	0.07%	–
DAVE	New	FAMOUS DAVES OF AMERICA INC	$287,000	–	10,000	–	0.07%	–
FMC	New	FMC CORP	$278,000	–	3,900	–	0.07%	–
FHCO	New	FEMALE HEALTH CO	$278,000	–	50,500	–	0.07%	–
MON	New	MONSANTO NEW	$274,000	–	2,200	–	0.06%	–
KO	New	COCA-COLA	$267,000	–	6,300	–	0.06%	–
RMCF	New	ROCKY MOUNTAIN CHOCOLATE FACTO	$253,000	–	19,200	–	0.06%	–
DUK	New	DUKE ENERGY	$242,000	–	3,262	–	0.06%	–
DLN	New	WISDOMTREE LARGECAP DIVIDEND Ietf	$238,000	–	3,365	–	0.06%	–
AMRE	New	AMREIT INC	$238,000	–	13,030	–	0.06%	–
BMTC	New	BRYN MAWR BANK CORP	$234,000	–	8,047	–	0.06%	–
DMRC	New	DIGIMARC CORP	$236,000	–	7,240	–	0.06%	–
BGFV	New	BIG 5 SPORTING GOODS CORP	$231,000	–	18,836	–	0.06%	–
ZEP	New	ZEP INC	$230,000	–	13,000	–	0.06%	–
CHKE	New	CHEROKEE INC	$225,000	–	14,808	–	0.05%	–
SLP	New	SIMULATIONS PLUS INC	$222,000	–	39,457	–	0.05%	–
FVE	New	FIVE STAR QUALITY CARE INC	$200,000	–	40,000	–	0.05%	–
CZNC	New	CITIZENS & NORTHERN CORP	$195,000	–	10,000	–	0.05%	–
PRGX	New	PRGX GLOBAL INC	$198,000	–	31,000	–	0.05%	–
IDSY	New	ID SYSTEMS INC	$193,000	–	35,408	–	0.05%	–
OMEX	New	ODYSSEY MARINE EXPLORATION IN	$193,000	–	115,000	–	0.05%	–
CCNE	New	CNB FINANCIAL CORP	$190,000	–	11,300	–	0.04%	–
BAGL	New	EINSTEIN NOAH RESTAURANT GROUP	$185,000	–	11,500	–	0.04%	–
FCBC	New	FIRST COMMUNITY BANCSHARES IN	$181,000	–	12,600	–	0.04%	–
PMD	New	PSYCHEMEDICS CORP	$180,000	–	12,700	–	0.04%	–
PPSI	New	PIONEER POWER SOLUTIONS INC	$166,000	–	20,000	–	0.04%	–
ORBC	New	ORBCOMM INC	$165,000	–	25,000	–	0.04%	–
OESX	New	ORION ENERGY SYSTEMS INC	$158,000	–	38,934	–	0.04%	–
MDLZ	New	MONDELEZ INTERNATIONAL	$143,000	–	24,590	–	0.03%	–
	New	CONSOLIDATED WATER CO	$141,000	–	12,000	–	0.03%	–
EMAN	New	EMAGIN CORP	$107,000	–	47,910	–	0.03%	–
ONVO	New	ORGANOVO HOLDINGS INC	$100,000	–	12,000	–	0.02%	–
	New	WAL-MART DE MEXICO SAB DE CV O	$28,000	–	10,520	–	0.01%	–

Q4 2013

			Value		Shares		↓ Weighting
	Exit	WAL-MART DE MEXICO	$0	–	-10,520	–	-0.01%	–
APPCQ	Exit	AMERICAN APPAREL	$0	–	-65,000	–	-0.02%	–
MCC	Exit	MEDLEY CAPITAL CORP	$0	–	-10,000	–	-0.04%	–
EMAN	Exit	EMAGIN COEP	$0	–	-47,110	–	-0.04%	–
SPAR	Exit	SPARTAN MOTORS	$0	–	-23,600	–	-0.04%	–
WBCO	Exit	WASHINGTON BANKING	$0	–	-10,500	–	-0.04%	–
VTNR	Exit	VERTEX ENERGY	$0	–	-50,300	–	-0.04%	–
PMD	Exit	PSYCHEMEDICS CORP	$0	–	-11,700	–	-0.04%	–
PPSI	Exit	PIONEER POWER	$0	–	-20,000	–	-0.04%	–
CHKE	Exit	CHEROKEE INC	$0	–	-13,308	–	-0.05%	–
WRESQ	Exit	WARREN RESOURCES	$0	–	-60,000	–	-0.05%	–
CCNE	Exit	CNB FINANCIAL	$0	–	-10,300	–	-0.05%	–
FCBC	Exit	FIRST COMMUNITY	$0	–	-10,600	–	-0.05%	–
FARM	Exit	FARMER BROTHERS	$0	–	-12,000	–	-0.05%	–
BIRT	Exit	ACTUATE CORP	$0	–	-25,000	–	-0.05%	–
SLP	Exit	SIMULATION PLUS	$0	–	-39,457	–	-0.05%	–
IDSY	Exit	ID SYSTEMS	$0	–	-30,408	–	-0.05%	–
BGFV	Exit	BIG 5 SPORTING GOODS	$0	–	-12,000	–	-0.05%	–
PRGX	Exit	PRGX GLOBAL	$0	–	-31,000	–	-0.06%	–
MDY	Exit	SPDR MID CAPetf	$0	–	-920	–	-0.06%	–
FVE	Exit	FIVE STAR QUALITY	$0	–	-40,000	–	-0.06%	–
ZEP	Exit	ZEP INC	$0	–	-13,000	–	-0.06%	–
MNR	Exit	MONMOUTH REAL ESTATE	$0	–	-23,700	–	-0.06%	–
DUK	Exit	DUKE ENERGY	$0	–	-3,262	–	-0.06%	–
BMTC	Exit	BRYN MAWR BANK	$0	–	-8,134	–	-0.06%	–
	Exit	ODYSSEY MARINE	$0	–	-75,000	–	-0.06%	–
DLN	Exit	WISDOM TREE LG CAP	$0	–	-3,765	–	-0.06%	–
DAVE	Exit	FAMOUS DAVE	$0	–	-14,973	–	-0.07%	–
RMCF	Exit	ROCKY MT CHOCOLATE	$0	–	-20,000	–	-0.07%	–
ACETQ	Exit	ACETO	$0	–	-16,500	–	-0.07%	–
CACI	Exit	CACI INTL	$0	–	-3,900	–	-0.08%	–
FC	Exit	FRANKLIN COVEY CO	$0	–	-15,000	–	-0.08%	–
DGIT	Exit	DIGITAL GENERATION	$0	–	-22,000	–	-0.08%	–
INTU	Exit	INTUIT, INC.	$0	–	-4,300	–	-0.08%	–
FHCO	Exit	FEMALE HEALTH CORP	$0	–	-30,000	–	-0.08%	–
DEPO	Exit	DEPOMED INC	$0	–	-40,000	–	-0.08%	–
GHM	Exit	GRAHAM CORP	$0	–	-9,110	–	-0.09%	–
BAX	Exit	BAXTER INTL	$0	–	-4,992	–	-0.09%	–
BAC	Exit	BANK OF AMERICA	$0	–	-23,962	–	-0.09%	–
MON	Exit	MONSANTO	$0	–	-3,200	–	-0.09%	–
GE	Exit	GENERAL ELECTRIC	$0	–	-14,919	–	-0.10%	–
BP	Exit	B P PLC ADR	$0	–	-8,840	–	-0.10%	–
FMC	Exit	FMC CORP	$0	–	-5,400	–	-0.11%	–
APC	Exit	ANADARKO PETROLEUM	$0	–	-4,400	–	-0.12%	–
PNC	Exit	PNC FINANCIAL	$0	–	-6,030	–	-0.12%	–
FULT	Exit	FULTON FINANCIAL	$0	–	-39,023	–	-0.13%	–
NVS	Exit	NOVARTIS	$0	–	-6,284	–	-0.14%	–
NTRS	Exit	NORTHERN TRUST	$0	–	-9,102	–	-0.14%	–
OXY	Exit	OCCIDENTAL PETROL	$0	–	-5,350	–	-0.14%	–
EEM	Exit	ISHARES MSCI EMER	$0	–	-12,800	–	-0.15%	–
UNP	Exit	UNION PACIFIC	$0	–	-4,430	–	-0.19%	–
DE	Exit	DEERE	$0	–	-9,697	–	-0.22%	–
IDXX	Exit	IDEXX LABORATORIES	$0	–	-8,000	–	-0.22%	–
WAG	Exit	WALGREEN	$0	–	-16,160	–	-0.24%	–
DOV	Exit	DOVER CORP	$0	–	-11,121	–	-0.28%	–
FRT	Exit	FEDERAL REALTY TRUST	$0	–	-10,414	–	-0.30%	–
MCD	Exit	McDONALDS	$0	–	-12,250	–	-0.33%	–
KMB	Exit	KIMBERLY CLARK	$0	–	-13,034	–	-0.34%	–
VSS	Exit	VANGUARD FTSE	$0	–	-12,404	–	-0.35%	–
KO	Exit	COCA COLA	$0	–	-33,095	–	-0.35%	–
LLY	Exit	LILLY, ELI	$0	–	-27,295	–	-0.39%	–
LF	Exit	LEAPFROG ENTERPRISES	$0	–	-153,158	–	-0.41%	–
AVAV	Exit	AEROVIRONMENT	$0	–	-62,570	–	-0.41%	–
IIVI	Exit	II-VI, INC	$0	–	-78,898	–	-0.42%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-18,155	–	-0.44%	–
PENN	Exit	PENN NATL GAMING	$0	–	-30,642	–	-0.48%	–
NPBC	Exit	NATIONAL PENN BANC	$0	–	-176,136	–	-0.50%	–
XCO	Exit	EXCO RESOURCES	$0	–	-270,912	–	-0.51%	–
ITW	Exit	ILLINOIS TOOL WORKS	$0	–	-24,000	–	-0.51%	–
CL	Exit	COLGATE	$0	–	-31,155	–	-0.52%	–
TCAP	Exit	TRIANGLE CAPITAL CORP	$0	–	-63,515	–	-0.52%	–
OFC	Exit	CORPORATE OFFICE	$0	–	-82,117	–	-0.53%	–
ROSE	Exit	ROSETTA RESOURCES	$0	–	-35,017	–	-0.54%	–
PESXQ	Exit	PIONEER ENERGY	$0	–	-256,274	–	-0.54%	–
SEAC	Exit	SEACHANGE	$0	–	-170,737	–	-0.55%	–
CAT	Exit	CATERPILLAR	$0	–	-24,145	–	-0.57%	–
CRY	Exit	CRYOLIFE	$0	–	-288,673	–	-0.57%	–
NVEC	Exit	NVE	$0	–	-40,598	–	-0.58%	–
PG	Exit	PROCTOR & GAMBLE	$0	–	-27,576	–	-0.59%	–
BDX	Exit	BECTON DICKINSON	$0	–	-20,940	–	-0.59%	–
ACN	Exit	ACCENTURE	$0	–	-30,000	–	-0.62%	–
QSII	Exit	QUALITY SYSTEMS	$0	–	-104,452	–	-0.64%	–
MSFT	Exit	MICROSOFT	$0	–	-68,849	–	-0.64%	–
SYK	Exit	STRYKER CORP	$0	–	-34,875	–	-0.66%	–
MGRC	Exit	MCGRATH RENTCORP	$0	–	-67,576	–	-0.68%	–
DLR	Exit	DIGITAL REALTY	$0	–	-45,679	–	-0.68%	–
SNI	Exit	SCRIPPS NETWORK	$0	–	-31,450	–	-0.69%	–
CMD	Exit	CANTEL MEDICAL	$0	–	-79,101	–	-0.71%	–
ADBE	Exit	ADOBE SYSTEMS	$0	–	-49,225	–	-0.72%	–
MIDD	Exit	MIDDLEBY CORP	$0	–	-12,310	–	-0.72%	–
IMAX	Exit	IMAX CORP	$0	–	-85,992	–	-0.73%	–
LPSN	Exit	LIVEPERSON	$0	–	-278,030	–	-0.74%	–
COST	Exit	COSTCO WHOLESALE	$0	–	-23,045	–	-0.75%	–
NTRI	Exit	NUTRISYSTEM, INC.	$0	–	-188,165	–	-0.76%	–
ADP	Exit	AUTOMATIC DATA	$0	–	-38,473	–	-0.78%	–
VIVO	Exit	MERIDIAN BIOSCIENCE	$0	–	-118,568	–	-0.79%	–
AME	Exit	AMETEK	$0	–	-62,105	–	-0.80%	–
COP	Exit	CONOCO/PHILLIPS	$0	–	-42,168	–	-0.82%	–
SNA	Exit	SNAP-ON	$0	–	-29,905	–	-0.84%	–
IRBT	Exit	IROBOT CORP	$0	–	-81,242	–	-0.86%	–
FSYS	Exit	FUEL SYSTEMS	$0	–	-156,733	–	-0.87%	–
DWM	Exit	WISDOM TREE DEFA	$0	–	-59,744	–	-0.87%	–
SYY	Exit	SYSCO CORP	$0	–	-97,508	–	-0.87%	–
EFA	Exit	ISHARES MSCI EAFE	$0	–	-48,655	–	-0.87%	–
CB	Exit	CHUBB	$0	–	-35,690	–	-0.90%	–
JWN	Exit	NORDSTROM	$0	–	-57,255	–	-0.90%	–
IBM	Exit	IBM	$0	–	-17,387	–	-0.90%	–
VZ	Exit	VERIZON	$0	–	-73,209	–	-0.96%	–
JPM	Exit	J P MORGAN CHASE	$0	–	-66,320	–	-0.96%	–
	Exit	ENERGEN	$0	–	-45,052	–	-0.97%	–
SFLY	Exit	SHUTTERFLY	$0	–	-61,813	–	-0.97%	–
WFC	Exit	WELLS FARGO	$0	–	-84,236	–	-0.98%	–
CSCO	Exit	CISCO SYSTEMS	$0	–	-155,863	–	-1.03%	–
	Exit	ABBVIE	$0	–	-81,896	–	-1.03%	–
T	Exit	A T & T NEW	$0	–	-108,424	–	-1.03%	–
TYL	Exit	TYLER TECHNOLOGIES	$0	–	-42,561	–	-1.05%	–
UTX	Exit	UNITED TECHNOLOGIES	$0	–	-35,039	–	-1.06%	–
RYN	Exit	RAYONIER	$0	–	-68,670	–	-1.07%	–
ATRO	Exit	ASTRONICS	$0	–	-81,870	–	-1.14%	–
POWR	Exit	POWERSECURE INTL	$0	–	-255,709	–	-1.15%	–
PFE	Exit	PFIZER	$0	–	-143,137	–	-1.16%	–
ABT	Exit	ABBOTT LABS	$0	–	-123,916	–	-1.16%	–
MTB	Exit	M & T BANK	$0	–	-36,740	–	-1.16%	–
LOW	Exit	LOWES COS.	$0	–	-87,938	–	-1.18%	–
AXP	Exit	AMERICAN EXPRESS	$0	–	-57,280	–	-1.22%	–
AAPL	Exit	APPLE	$0	–	-9,265	–	-1.24%	–
CSX	Exit	CSX	$0	–	-171,690	–	-1.24%	–
NKE	Exit	NIKE CL B	$0	–	-61,810	–	-1.26%	–
SLB	Exit	SCHLUMBERGER	$0	–	-51,129	–	-1.27%	–
ETN	Exit	EATON	$0	–	-65,950	–	-1.28%	–
DD	Exit	DU PONT	$0	–	-78,289	–	-1.29%	–
WMB	Exit	WILLIAMS COMPANIES	$0	–	-127,848	–	-1.31%	–
QCOM	Exit	QUALCOMM	$0	–	-69,703	–	-1.32%	–
CALD	Exit	CALLIDUS SOFTWARE	$0	–	-514,171	–	-1.32%	–
XOM	Exit	EXXON MOBIL	$0	–	-55,203	–	-1.34%	–
MMM	Exit	3 M COMPANY	$0	–	-40,150	–	-1.35%	–
DIS	Exit	DISNEY, WALT	$0	–	-74,540	–	-1.35%	–
MRK	Exit	MERCK	$0	–	-103,908	–	-1.39%	–
PSA	Exit	PUBLIC STORAGE	$0	–	-30,970	–	-1.40%	–
CVX	Exit	CHEVRON	$0	–	-41,093	–	-1.40%	–
XRAY	Exit	DENTSPLY INTL	$0	–	-117,519	–	-1.43%	–
PX	Exit	PRAXAIR	$0	–	-43,545	–	-1.47%	–
VWO	Exit	VANGUARD MSCI EMER	$0	–	-142,405	–	-1.61%	–
PEP	Exit	PEPSICO	$0	–	-75,026	–	-1.68%	–
IWM	Exit	ISHARES RUSSELL 2000	$0	–	-204,500	–	-6.13%	–
SPY	Exit	S & P 500 INDEX DEP	$0	–	-237,870	–	-11.23%	–

Q3 2013

			Value		Shares		↓ Weighting
SPY	Buy	S & P 500 INDEX DEP	$39,965,000	+8.9%	237,870	+4.0%	11.23%	-5.3%
IWM	Buy	ISHARES RUSSELL 2000	$21,802,000	+31.0%	204,500	+19.2%	6.13%	+13.9%
PEP	Buy	PEPSICO	$5,965,000	+6.7%	75,026	+9.8%	1.68%	-7.1%
VWO	Sell	VANGUARD MSCI EMER	$5,715,000	+3.0%	142,405	-0.4%	1.61%	-10.4%
PX	Buy	PRAXAIR	$5,234,000	+14.1%	43,545	+9.3%	1.47%	-0.8%
XRAY	Sell	DENTSPLY INTL	$5,102,000	+5.7%	117,519	-0.3%	1.43%	-8.1%
CVX	Buy	CHEVRON	$4,993,000	+12.2%	41,093	+9.2%	1.40%	-2.5%
PSA	Buy	PUBLIC STORAGE	$4,972,000	+15.1%	30,970	+9.9%	1.40%	+0.1%
MRK	Buy	MERCK	$4,947,000	+35.5%	103,908	+32.2%	1.39%	+17.8%
DIS	Buy	DISNEY, WALT	$4,807,000	+18.2%	74,540	+15.7%	1.35%	+2.8%
MMM	Buy	3 M COMPANY	$4,794,000	+29.5%	40,150	+18.6%	1.35%	+12.5%
XOM	Buy	EXXON MOBIL	$4,750,000	+11.5%	55,203	+17.0%	1.34%	-3.1%
CALD	Sell	CALLIDUS SOFTWARE	$4,715,000	+28.6%	514,171	-7.6%	1.32%	+11.8%
QCOM	Buy	QUALCOMM	$4,692,000	+23.1%	69,703	+11.7%	1.32%	+7.1%
WMB	Buy	WILLIAMS COMPANIES	$4,649,000	+34.9%	127,848	+20.4%	1.31%	+17.3%
DD	Buy	DU PONT	$4,585,000	+36.9%	78,289	+22.8%	1.29%	+19.1%
ETN	Buy	EATON	$4,540,000	+29.4%	65,950	+23.7%	1.28%	+12.5%
SLB	Buy	SCHLUMBERGER	$4,518,000	+46.9%	51,129	+19.2%	1.27%	+27.8%
NKE	Buy	NIKE CL B	$4,490,000	+41.8%	61,810	+24.3%	1.26%	+23.4%
CSX	Buy	CSX	$4,419,000	+27.8%	171,690	+15.1%	1.24%	+11.1%
AAPL	Buy	APPLE	$4,417,000	+28.5%	9,265	+6.9%	1.24%	+11.7%
AXP	Buy	AMERICAN EXPRESS	$4,326,000	+15.6%	57,280	+14.4%	1.22%	+0.5%
LOW	Buy	LOWES COS.	$4,187,000	+28.4%	87,938	+10.3%	1.18%	+11.7%
ABT	Buy	ABBOTT LABS	$4,113,000	+11.7%	123,916	+17.4%	1.16%	-2.9%
PFE	Buy	PFIZER	$4,112,000	+21.7%	143,137	+18.6%	1.16%	+5.9%
MTB	Buy	M & T BANK	$4,112,000	+9.9%	36,740	+9.7%	1.16%	-4.4%
POWR	Sell	POWERSECURE INTL	$4,104,000	-18.1%	255,709	-23.3%	1.15%	-28.8%
ATRO	Sell	ASTRONICS	$4,070,000	+11.2%	81,870	-8.6%	1.14%	-3.3%
RYN	Buy	RAYONIER	$3,821,000	+11.6%	68,670	+11.1%	1.07%	-2.9%
UTX	Buy	UNITED TECHNOLOGIES	$3,778,000	+37.3%	35,039	+18.4%	1.06%	+19.5%
TYL	Sell	TYLER TECHNOLOGIES	$3,723,000	+17.4%	42,561	-8.0%	1.05%	+2.0%
T	Sell	A T & T NEW	$3,667,000	-5.2%	108,424	-0.7%	1.03%	-17.5%
	Buy	ABBVIE	$3,663,000	+27.9%	81,896	+18.2%	1.03%	+11.2%
CSCO	Buy	CISCO SYSTEMS	$3,652,000	+20.6%	155,863	+25.3%	1.03%	+4.9%
WFC	Buy	WELLS FARGO	$3,481,000	+4.1%	84,236	+3.9%	0.98%	-9.5%
SFLY	Sell	SHUTTERFLY	$3,454,000	-7.0%	61,813	-6.9%	0.97%	-19.1%
	Buy	ENERGEN	$3,442,000	+74.6%	45,052	+19.4%	0.97%	+51.8%
JPM	Buy	J P MORGAN CHASE	$3,428,000	+12.1%	66,320	+14.5%	0.96%	-2.5%
VZ	Buy	VERIZON	$3,417,000	+24.8%	73,209	+34.6%	0.96%	+8.5%
IBM	Buy	IBM	$3,220,000	+8.5%	17,387	+12.0%	0.90%	-5.6%
JWN	Buy	NORDSTROM	$3,218,000	+14.3%	57,255	+21.9%	0.90%	-0.7%
CB	Buy	CHUBB	$3,186,000	+33.6%	35,690	+26.7%	0.90%	+16.2%
EFA	Buy	ISHARES MSCI EAFE	$3,104,000	+12.8%	48,655	+1.3%	0.87%	-1.9%
SYY	Buy	SYSCO CORP	$3,104,000	-4.3%	97,508	+2.7%	0.87%	-16.8%
DWM	New	WISDOM TREE DEFA	$3,089,000	–	59,744	–	0.87%	–
FSYS	Sell	FUEL SYSTEMS	$3,081,000	+2.6%	156,733	-6.7%	0.87%	-10.8%
IRBT	Sell	IROBOT CORP	$3,058,000	-13.2%	81,242	-8.3%	0.86%	-24.5%
SNA	Buy	SNAP-ON	$2,976,000	+70.2%	29,905	+52.8%	0.84%	+48.0%
COP	Buy	CONOCO/PHILLIPS	$2,931,000	+33.0%	42,168	+15.8%	0.82%	+15.7%
AME	Buy	AMETEK	$2,858,000	+10.4%	62,105	+1.5%	0.80%	-3.9%
VIVO	Sell	MERIDIAN BIOSCIENCE	$2,802,000	+1.3%	118,568	-7.8%	0.79%	-11.9%
ADP	Sell	AUTOMATIC DATA	$2,785,000	-32.7%	38,473	-36.0%	0.78%	-41.4%
NTRI	Sell	NUTRISYSTEM, INC.	$2,706,000	+13.0%	188,165	-7.5%	0.76%	-1.7%
COST	Buy	COSTCO WHOLESALE	$2,654,000	+22.8%	23,045	+17.8%	0.75%	+6.7%
LPSN	Buy	LIVEPERSON	$2,622,000	+22.5%	278,030	+16.4%	0.74%	+6.5%
IMAX	Sell	IMAX CORP	$2,601,000	+12.1%	85,992	-7.8%	0.73%	-2.5%
MIDD	Sell	MIDDLEBY CORP	$2,572,000	+13.5%	12,310	-7.6%	0.72%	-1.4%
ADBE	Buy	ADOBE SYSTEMS	$2,558,000	+63.7%	49,225	+43.5%	0.72%	+42.4%
CMD	Buy	CANTEL MEDICAL	$2,519,000	+28.6%	79,101	+36.8%	0.71%	+11.8%
SNI	New	SCRIPPS NETWORK	$2,457,000	–	31,450	–	0.69%	–
DLR	Sell	DIGITAL REALTY	$2,426,000	-21.6%	45,679	-10.0%	0.68%	-31.9%
MGRC	Sell	MCGRATH RENTCORP	$2,412,000	-4.2%	67,576	-8.4%	0.68%	-16.7%
SYK	Buy	STRYKER CORP	$2,357,000	+39.2%	34,875	+33.2%	0.66%	+21.0%
MSFT	Sell	MICROSOFT	$2,291,000	-28.3%	68,849	-25.6%	0.64%	-37.7%
QSII	Sell	QUALITY SYSTEMS	$2,270,000	+8.5%	104,452	-6.6%	0.64%	-5.6%
BDX	Buy	BECTON DICKINSON	$2,094,000	+31.0%	20,940	+29.5%	0.59%	+14.1%
PG	Sell	PROCTOR & GAMBLE	$2,084,000	-6.9%	27,576	-5.2%	0.59%	-19.1%
NVEC	Sell	NVE	$2,072,000	+4.9%	40,598	-3.8%	0.58%	-8.8%
CRY	Sell	CRYOLIFE	$2,021,000	+4.6%	288,673	-6.5%	0.57%	-9.0%
CAT	Buy	CATERPILLAR	$2,014,000	+38.0%	24,145	+36.5%	0.57%	+19.9%
SEAC	Buy	SEACHANGE	$1,958,000	+43.1%	170,737	+46.2%	0.55%	+24.4%
PESXQ	Sell	PIONEER ENERGY	$1,925,000	+6.2%	256,274	-6.4%	0.54%	-7.7%
ROSE	Sell	ROSETTA RESOURCES	$1,907,000	+22.4%	35,017	-4.4%	0.54%	+6.3%
OFC	Sell	CORPORATE OFFICE	$1,897,000	-16.8%	82,117	-8.1%	0.53%	-27.7%
TCAP	Sell	TRIANGLE CAPITAL CORP	$1,865,000	-0.3%	63,515	-6.6%	0.52%	-13.4%
CL	Buy	COLGATE	$1,847,000	+40.2%	31,155	+35.6%	0.52%	+21.8%
XCO	Sell	EXCO RESOURCES	$1,826,000	-17.0%	270,912	-5.9%	0.51%	-27.8%
NPBC	Sell	NATIONAL PENN BANC	$1,770,000	-6.2%	176,136	-5.1%	0.50%	-18.5%
PENN	Sell	PENN NATL GAMING	$1,696,000	+0.4%	30,642	-4.0%	0.48%	-12.6%
JNJ	Sell	JOHNSON & JOHNSON	$1,574,000	-0.1%	18,155	-1.1%	0.44%	-13.2%
IIVI	Sell	II-VI, INC	$1,483,000	+7.3%	78,898	-7.2%	0.42%	-6.7%
AVAV	New	AEROVIRONMENT	$1,445,000	–	62,570	–	0.41%	–
LF	Sell	LEAPFROG ENTERPRISES	$1,443,000	-10.1%	153,158	-6.2%	0.41%	-21.8%
LLY	Buy	LILLY, ELI	$1,374,000	+104.2%	27,295	+99.3%	0.39%	+77.1%
KO	Sell	COCA COLA	$1,254,000	-14.9%	33,095	-9.9%	0.35%	-26.1%
VSS	Sell	VANGUARD FTSE	$1,232,000	+4.9%	12,404	-5.8%	0.35%	-8.9%
KMB	Buy	KIMBERLY CLARK	$1,228,000	+60.3%	13,034	+65.3%	0.34%	+39.1%
MCD	Buy	McDONALDS	$1,179,000	0.0%	12,250	+2.9%	0.33%	-13.1%
FRT	New	FEDERAL REALTY TRUST	$1,057,000	–	10,414	–	0.30%	–
DOV	Sell	DOVER CORP	$999,000	+11.4%	11,121	-3.7%	0.28%	-3.1%
WAG	Buy	WALGREEN	$869,000	+117.2%	16,160	+78.6%	0.24%	+89.1%
DE	Sell	DEERE	$789,000	-13.3%	9,697	-13.4%	0.22%	-24.5%
NTRS	New	NORTHERN TRUST	$495,000	–	9,102	–	0.14%	–
PNC	Sell	PNC FINANCIAL	$437,000	-3.1%	6,030	-2.4%	0.12%	-15.8%
APC	Buy	ANADARKO PETROLEUM	$409,000	+18.9%	4,400	+10.0%	0.12%	+3.6%
GE	Sell	GENERAL ELECTRIC	$356,000	-6.6%	14,919	-9.1%	0.10%	-18.7%
MON	Buy	MONSANTO	$334,000	+53.9%	3,200	+45.5%	0.09%	+34.3%
BAC	New	BANK OF AMERICA	$331,000	–	23,962	–	0.09%	–
GHM	Sell	GRAHAM CORP	$329,000	+12.7%	9,110	-6.2%	0.09%	-2.1%
CACI	Sell	CACI INTL	$270,000	-13.2%	3,900	-20.4%	0.08%	-24.8%
RMCF	Buy	ROCKY MT CHOCOLATE	$242,000	+23.5%	20,000	+26.6%	0.07%	+7.9%
DLN	Sell	WISDOM TREE LG CAP	$230,000	0.0%	3,765	-2.1%	0.06%	-12.2%
	Buy	ODYSSEY MARINE	$225,000	+17.2%	75,000	+15.4%	0.06%	+1.6%
BMTC	Sell	BRYN MAWR BANK	$219,000	-12.7%	8,134	-22.3%	0.06%	-23.5%
MNR	Buy	MONMOUTH REAL ESTATE	$215,000	+30.3%	23,700	+41.9%	0.06%	+13.2%
ZEP	New	ZEP INC	$211,000	–	13,000	–	0.06%	–
MDY	New	SPDR MID CAPetf	$208,000	–	920	–	0.06%	–
BGFV	Sell	BIG 5 SPORTING GOODS	$193,000	-32.3%	12,000	-7.7%	0.05%	-41.3%
SLP	Buy	SIMULATION PLUS	$190,000	+57.0%	39,457	+36.2%	0.05%	+35.9%
IDSY	New	ID SYSTEMS	$187,000	–	30,408	–	0.05%	–
FCBC	Buy	FIRST COMMUNITY	$173,000	+10.2%	10,600	+6.0%	0.05%	-3.9%
CHKE	Buy	CHEROKEE INC	$173,000	+21.8%	13,308	+19.9%	0.05%	+6.5%
CCNE	New	CNB FINANCIAL	$176,000	–	10,300	–	0.05%	–
WRESQ	Buy	WARREN RESOURCES	$175,000	+36.7%	60,000	+20.0%	0.05%	+19.5%
PPSI	New	PIONEER POWER	$161,000	–	20,000	–	0.04%	–
PMD	Sell	PSYCHEMEDICS CORP	$155,000	+5.4%	11,700	-14.6%	0.04%	-8.3%
EMAN	Buy	EMAGIN COEP	$142,000	+27.9%	47,110	+51.4%	0.04%	+11.1%
APPCQ	Buy	AMERICAN APPAREL	$85,000	-11.5%	65,000	+30.0%	0.02%	-22.6%
	New	WAL-MART DE MEXICO	$28,000	–	10,520	–	0.01%	–
CRNT	Exit	CERAGON NETWORKS	$0	–	-24,196	–	-0.02%	–
JOEZ	Exit	JOE'S JEANS	$0	–	-75,000	–	-0.04%	–
EEI	Exit	ECOLOGY & ENVIRONMENT	$0	–	-12,025	–	-0.04%	–
CMI	Exit	CUMMINS	$0	–	-2,240	–	-0.08%	–
DFZ	Exit	R G BARRY CORP	$0	–	-15,500	–	-0.08%	–
EWZ	Exit	ISHARES MSCI BRAZIL	$0	–	-50,000	–	-0.71%	–
FLOW	Exit	FLOW INT'L	$0	–	-677,886	–	-0.81%	–

Q2 2013

			Value		Shares		↓ Weighting
SPY	New	S & P 500 INDEX DEP	$36,699,000	–	228,770	–	11.86%	–
IWM	New	ISHARES RUSSELL 2000	$16,645,000	–	171,600	–	5.38%	–
PEP	New	PEPSICO	$5,588,000	–	68,316	–	1.81%	–
VWO	New	VANGUARD MSCI EMER	$5,548,000	–	143,005	–	1.79%	–
POWR	New	POWERSECURE INTL	$5,009,000	–	333,265	–	1.62%	–
XRAY	New	DENTSPLY INTL	$4,827,000	–	117,844	–	1.56%	–
PX	New	PRAXAIR	$4,589,000	–	39,850	–	1.48%	–
CVX	New	CHEVRON	$4,452,000	–	37,624	–	1.44%	–
PSA	New	PUBLIC STORAGE	$4,321,000	–	28,180	–	1.40%	–
XOM	New	EXXON MOBIL	$4,262,000	–	47,170	–	1.38%	–
ADP	New	AUTOMATIC DATA	$4,138,000	–	60,088	–	1.34%	–
DIS	New	DISNEY, WALT	$4,067,000	–	64,405	–	1.31%	–
T	New	A T & T NEW	$3,867,000	–	109,239	–	1.25%	–
QCOM	New	QUALCOMM	$3,811,000	–	62,383	–	1.23%	–
AXP	New	AMERICAN EXPRESS	$3,743,000	–	50,065	–	1.21%	–
MTB	New	M & T BANK	$3,741,000	–	33,480	–	1.21%	–
SFLY	New	SHUTTERFLY	$3,712,000	–	66,385	–	1.20%	–
MMM	New	3 M COMPANY	$3,703,000	–	33,865	–	1.20%	–
ABT	New	ABBOTT LABS	$3,682,000	–	105,551	–	1.19%	–
CALD	New	CALLIDUS SOFTWARE	$3,666,000	–	556,285	–	1.18%	–
ATRO	New	ASTRONICS	$3,659,000	–	89,540	–	1.18%	–
MRK	New	MERCK	$3,650,000	–	78,575	–	1.18%	–
IRBT	New	IROBOT CORP	$3,522,000	–	88,553	–	1.14%	–
ETN	New	EATON	$3,509,000	–	53,325	–	1.13%	–
CSX	New	CSX	$3,459,000	–	149,180	–	1.12%	–
WMB	New	WILLIAMS COMPANIES	$3,447,000	–	106,168	–	1.11%	–
AAPL	New	APPLE	$3,438,000	–	8,670	–	1.11%	–
RYN	New	RAYONIER	$3,423,000	–	61,790	–	1.11%	–
PFE	New	PFIZER	$3,380,000	–	120,672	–	1.09%	–
DD	New	DU PONT	$3,348,000	–	63,779	–	1.08%	–
WFC	New	WELLS FARGO	$3,345,000	–	81,041	–	1.08%	–
LOW	New	LOWES COS.	$3,260,000	–	79,703	–	1.05%	–
SYY	New	SYSCO CORP	$3,243,000	–	94,933	–	1.05%	–
MSFT	New	MICROSOFT	$3,197,000	–	92,554	–	1.03%	–
TYL	New	TYLER TECHNOLOGIES	$3,171,000	–	46,256	–	1.02%	–
NKE	New	NIKE CL B	$3,166,000	–	49,725	–	1.02%	–
DLR	New	DIGITAL REALTY	$3,096,000	–	50,754	–	1.00%	–
SLB	New	SCHLUMBERGER	$3,075,000	–	42,904	–	0.99%	–
JPM	New	J P MORGAN CHASE	$3,058,000	–	57,925	–	0.99%	–
CSCO	New	CISCO SYSTEMS	$3,027,000	–	124,383	–	0.98%	–
FSYS	New	FUEL SYSTEMS	$3,004,000	–	167,934	–	0.97%	–
IBM	New	IBM	$2,968,000	–	15,528	–	0.96%	–
	New	ABBVIE	$2,864,000	–	69,281	–	0.93%	–
JWN	New	NORDSTROM	$2,816,000	–	46,985	–	0.91%	–
VIVO	New	MERIDIAN BIOSCIENCE	$2,765,000	–	128,590	–	0.89%	–
EFA	New	ISHARES MSCI EAFE	$2,752,000	–	48,030	–	0.89%	–
UTX	New	UNITED TECHNOLOGIES	$2,751,000	–	29,599	–	0.89%	–
VZ	New	VERIZON	$2,737,000	–	54,379	–	0.88%	–
AME	New	AMETEK	$2,588,000	–	61,175	–	0.84%	–
MGRC	New	MCGRATH RENTCORP	$2,519,000	–	73,747	–	0.81%	–
FLOW	New	FLOW INT'L	$2,501,000	–	677,886	–	0.81%	–
NTRI	New	NUTRISYSTEM, INC.	$2,395,000	–	203,312	–	0.77%	–
CB	New	CHUBB	$2,384,000	–	28,165	–	0.77%	–
IMAX	New	IMAX CORP	$2,320,000	–	93,303	–	0.75%	–
OFC	New	CORPORATE OFFICE	$2,279,000	–	89,392	–	0.74%	–
MIDD	New	MIDDLEBY CORP	$2,267,000	–	13,328	–	0.73%	–
PG	New	PROCTOR & GAMBLE	$2,239,000	–	29,076	–	0.72%	–
COP	New	CONOCO/PHILLIPS	$2,204,000	–	36,424	–	0.71%	–
XCO	New	EXCO RESOURCES	$2,200,000	–	287,950	–	0.71%	–
EWZ	New	ISHARES MSCI BRAZIL	$2,193,000	–	50,000	–	0.71%	–
COST	New	COSTCO WHOLESALE	$2,162,000	–	19,555	–	0.70%	–
ACN	New	ACCENTURE	$2,159,000	–	30,000	–	0.70%	–
LPSN	New	LIVEPERSON	$2,140,000	–	238,960	–	0.69%	–
QSII	New	QUALITY SYSTEMS	$2,093,000	–	111,869	–	0.68%	–
NVEC	New	NVE	$1,975,000	–	42,180	–	0.64%	–
	New	ENERGEN	$1,971,000	–	37,717	–	0.64%	–
CMD	New	CANTEL MEDICAL	$1,959,000	–	57,826	–	0.63%	–
CRY	New	CRYOLIFE	$1,932,000	–	308,695	–	0.62%	–
NPBC	New	NATIONAL PENN BANC	$1,886,000	–	185,669	–	0.61%	–
TCAP	New	TRIANGLE CAPITAL CORP	$1,871,000	–	68,005	–	0.60%	–
PESXQ	New	PIONEER ENERGY	$1,813,000	–	273,913	–	0.59%	–
SNA	New	SNAP-ON	$1,749,000	–	19,570	–	0.56%	–
SYK	New	STRYKER CORP	$1,693,000	–	26,175	–	0.55%	–
PENN	New	PENN NATL GAMING	$1,689,000	–	31,917	–	0.55%	–
ITW	New	ILLINOIS TOOL WORKS	$1,660,000	–	24,000	–	0.54%	–
LF	New	LEAPFROG ENTERPRISES	$1,606,000	–	163,217	–	0.52%	–
BDX	New	BECTON DICKINSON	$1,598,000	–	16,165	–	0.52%	–
JNJ	New	JOHNSON & JOHNSON	$1,576,000	–	18,350	–	0.51%	–
ADBE	New	ADOBE SYSTEMS	$1,563,000	–	34,300	–	0.50%	–
ROSE	New	ROSETTA RESOURCES	$1,558,000	–	36,633	–	0.50%	–
KO	New	COCA COLA	$1,473,000	–	36,720	–	0.48%	–
CAT	New	CATERPILLAR	$1,459,000	–	17,685	–	0.47%	–
IIVI	New	II-VI, INC	$1,382,000	–	85,017	–	0.45%	–
SEAC	New	SEACHANGE	$1,368,000	–	116,810	–	0.44%	–
CL	New	COLGATE	$1,317,000	–	22,980	–	0.43%	–
MCD	New	McDONALDS	$1,179,000	–	11,905	–	0.38%	–
VSS	New	VANGUARD FTSE	$1,175,000	–	13,169	–	0.38%	–
DE	New	DEERE	$910,000	–	11,197	–	0.29%	–
DOV	New	DOVER CORP	$897,000	–	11,551	–	0.29%	–
KMB	New	KIMBERLY CLARK	$766,000	–	7,884	–	0.25%	–
IDXX	New	IDEXX LABORATORIES	$718,000	–	8,000	–	0.23%	–
UNP	New	UNION PACIFIC	$683,000	–	4,430	–	0.22%	–
LLY	New	LILLY, ELI	$673,000	–	13,695	–	0.22%	–
EEM	New	ISHARES MSCI EMER	$493,000	–	12,800	–	0.16%	–
OXY	New	OCCIDENTAL PETROL	$477,000	–	5,350	–	0.15%	–
PNC	New	PNC FINANCIAL	$451,000	–	6,180	–	0.15%	–
FULT	New	FULTON FINANCIAL	$448,000	–	39,023	–	0.14%	–
NVS	New	NOVARTIS	$444,000	–	6,284	–	0.14%	–
WAG	New	WALGREEN	$400,000	–	9,050	–	0.13%	–
GE	New	GENERAL ELECTRIC	$381,000	–	16,419	–	0.12%	–
BP	New	B P PLC ADR	$369,000	–	8,840	–	0.12%	–
BAX	New	BAXTER INTL	$346,000	–	4,992	–	0.11%	–
APC	New	ANADARKO PETROLEUM	$344,000	–	4,000	–	0.11%	–
FMC	New	FMC CORP	$330,000	–	5,400	–	0.11%	–
CACI	New	CACI INTL	$311,000	–	4,900	–	0.10%	–
FHCO	New	FEMALE HEALTH CORP	$296,000	–	30,000	–	0.10%	–
GHM	New	GRAHAM CORP	$292,000	–	9,710	–	0.09%	–
BGFV	New	BIG 5 SPORTING GOODS	$285,000	–	13,000	–	0.09%	–
INTU	New	INTUIT, INC.	$262,000	–	4,300	–	0.08%	–
DFZ	New	R G BARRY CORP	$252,000	–	15,500	–	0.08%	–
BMTC	New	BRYN MAWR BANK	$251,000	–	10,475	–	0.08%	–
CMI	New	CUMMINS	$243,000	–	2,240	–	0.08%	–
DAVE	New	FAMOUS DAVE	$233,000	–	14,973	–	0.08%	–
ACETQ	New	ACETO	$230,000	–	16,500	–	0.07%	–
DLN	New	WISDOM TREE LG CAP	$230,000	–	3,845	–	0.07%	–
DEPO	New	DEPOMED INC	$225,000	–	40,000	–	0.07%	–
FVE	New	FIVE STAR QUALITY	$224,000	–	40,000	–	0.07%	–
DUK	New	DUKE ENERGY	$220,000	–	3,262	–	0.07%	–
MON	New	MONSANTO	$217,000	–	2,200	–	0.07%	–
FC	New	FRANKLIN COVEY CO	$202,000	–	15,000	–	0.06%	–
RMCF	New	ROCKY MT CHOCOLATE	$196,000	–	15,800	–	0.06%	–
	New	ODYSSEY MARINE	$192,000	–	65,000	–	0.06%	–
PRGX	New	PRGX GLOBAL	$170,000	–	31,000	–	0.06%	–
FARM	New	FARMER BROTHERS	$169,000	–	12,000	–	0.06%	–
BIRT	New	ACTUATE CORP	$166,000	–	25,000	–	0.05%	–
MNR	New	MONMOUTH REAL ESTATE	$165,000	–	16,700	–	0.05%	–
DGIT	New	DIGITAL GENERATION	$162,000	–	22,000	–	0.05%	–
FCBC	New	FIRST COMMUNITY	$157,000	–	10,000	–	0.05%	–
PMD	New	PSYCHEMEDICS CORP	$147,000	–	13,700	–	0.05%	–
VTNR	New	VERTEX ENERGY	$150,000	–	50,300	–	0.05%	–
WBCO	New	WASHINGTON BANKING	$149,000	–	10,500	–	0.05%	–
SPAR	New	SPARTAN MOTORS	$144,000	–	23,600	–	0.05%	–
CHKE	New	CHEROKEE INC	$142,000	–	11,100	–	0.05%	–
MCC	New	MEDLEY CAPITAL CORP	$136,000	–	10,000	–	0.04%	–
EEI	New	ECOLOGY & ENVIRONMENT	$126,000	–	12,025	–	0.04%	–
WRESQ	New	WARREN RESOURCES	$128,000	–	50,000	–	0.04%	–
JOEZ	New	JOE'S JEANS	$123,000	–	75,000	–	0.04%	–
SLP	New	SIMULATION PLUS	$121,000	–	28,977	–	0.04%	–
EMAN	New	EMAGIN COEP	$111,000	–	31,110	–	0.04%	–
APPCQ	New	AMERICAN APPAREL	$96,000	–	50,000	–	0.03%	–
CRNT	New	CERAGON NETWORKS	$76,000	–	24,196	–	0.02%	–

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