Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
MSFT	Microsoft Corp.	201,110	$17.2M	4.4%	$31.94	+135.6%	COM	594918104
IWN	iShares Russell 2000 Value Ind	126,332	$15.89M	4.1%	$98.75	—	RUS 2000 VAL ETF	464287630
GOOG	Alphabet Inc. Cl C	13,761	$14.4M	3.7%	$36.68	+37.7%	CAP STK CL C	02079K107
JNJ	Johnson & Johnson	100,793	$14.08M	3.6%	$65.51	+69.4%	COM	478160104
CF	CF Industries Holdings, Inc.	315,970	$13.44M	3.5%	$20.76	+48.0%	COM	125269100
AAPL	Apple Computer	74,262	$12.57M	3.2%	$20.96	+86.5%	COM	037833100
PNC	PNC Financial Services Group,	84,828	$12.24M	3.1%	$54.22	+93.0%	COM	693475105
—	Costco Wholesale	58,301	$10.85M	2.8%	$140.52	—	COM	22160k105
—	Rockwell Collins Inc.	79,580	$10.79M	2.8%	$103.51	—	COM	774341101
ABT	Abbott Laboratories	184,189	$10.51M	2.7%	$31.77	+51.4%	COM	002824100
—	SunTrust Banks	151,514	$9.786M	2.5%	$41.70	—	COM	867914103
MA	MasterCard, Inc.	61,938	$9.375M	2.4%	$95.62	+48.7%	CL A	57636Q104
ROP	Roper Technologies	36,103	$9.351M	2.4%	$158.12	+54.7%	COM	776696106
BAC	Bank of America Corp.	311,747	$9.203M	2.4%	$16.81	+35.5%	COM	060505104
TJX	TJX Companies Inc.	116,434	$8.903M	2.3%	$23.93	+35.4%	COM	872540109
DLTR	Dollar Tree Stores Inc.	81,450	$8.74M	2.2%	$82.13	+19.0%	COM	256746108
CVX	ChevronTexaco Corporation	67,895	$8.5M	2.2%	$71.85	+16.3%	COM	166764100
LLY	Lilly, Eli	97,616	$8.245M	2.1%	$69.40	+8.5%	COM	532457108
PEP	PepsiCo Inc.	66,036	$7.919M	2.0%	$58.12	+53.1%	COM	713448108
—	Discover Financial Services	93,755	$7.212M	1.9%	$57.52	—	COM	254709108
SBUX	Starbucks Corporation	124,410	$7.145M	1.8%	$46.25	+2.5%	COM	855244109
QCOM	Qualcomm Inc.	107,107	$6.857M	1.8%	$50.49	-3.0%	COM	747525103
FITB	Fifth Third Bancorp	222,478	$6.75M	1.7%	$12.07	+78.1%	COM	316773100
CVS	CVS Health Corp.	91,958	$6.667M	1.7%	$62.30	-9.7%	COM	126650100
—	Verizon Communications	116,621	$6.173M	1.6%	$49.84	—	COM	92343v104
PAYX	Paychex Inc.	88,731	$6.041M	1.6%	$45.76	+12.8%	COM	704326107
NSRGY	Nestle SA Spon ADR	69,448	$5.97M	1.5%	$79.02	—	COM	641069406
CHKP	Check Point Software	56,688	$5.874M	1.5%	$70.03	+55.1%	ORD	M22465104
—	DowDuPont Inc.	79,567	$5.667M	1.5%	$69.23	—	COM	26078J100
—	General Electric Company	314,342	$5.485M	1.4%	$24.79	—	COM	369604103
OXY	Occidental Petroleum	67,626	$4.981M	1.3%	$52.50	+5.0%	COM	674599105
—	GMS Inc	130,000	$4.893M	1.3%	$36.58	—	COM	36251C103
SLB	Schlumberger Ltd	70,187	$4.73M	1.2%	$57.61	-11.1%	COM	806857108
PPL	PPL Corporation	151,813	$4.699M	1.2%	$17.86	+39.3%	COM	69351T106
XOM	Exxon Mobil Corp.	54,966	$4.597M	1.2%	$53.86	+6.0%	COM	30231G102
CMG	Chipotle Mexican Grill, Inc.	15,174	$4.386M	1.1%	$8.55	-30.2%	COM	169656105
—	Allergan PLC	25,855	$4.229M	1.1%	$291.89	—	SHS	G0177J108
PG	Procter & Gamble	33,987	$3.123M	0.8%	$57.14	+27.1%	COM	742718109
EFA	iShares MSCI EAFE Index Fund	42,817	$3.01M	0.8%	$62.13	—	MSCI EAFE ETF	464287465
KEY	KeyCorp	144,175	$2.908M	0.7%	$6.67	+96.0%	COM	493267108
—	Liberty Property Trust	61,409	$2.641M	0.7%	$36.78	—	SH BEN INT	531172104
APD	Air Products & Chemicals Inc	13,558	$2.225M	0.6%	$86.26	+51.1%	COM	009158106
DHR	Danaher Corp	21,200	$1.968M	0.5%	$67.61	+15.7%	COM	235851102
—	3M Co.	7,244	$1.705M	0.4%	$126.37	—	COM	88579y101
WPC	WP Carey Inc	24,550	$1.691M	0.4%	$59.85	—	COM	92936U109
—	United Technologies	13,211	$1.685M	0.4%	$95.02	—	COM	913017109
MRK	Merck & Co.	28,320	$1.594M	0.4%	$34.50	+24.6%	COM	58933Y105
IJR	iShares Core S&P Small-Cap ETF	20,355	$1.563M	0.4%	$84.83	—	CORE S&P SCP ETF	464287804
—	AT&T, Inc.	39,763	$1.546M	0.4%	$35.58	—	COM	00206r102
—	BCE Inc.	31,824	$1.528M	0.4%	$41.84	—	COM NEW	05534b760
KMB	Kimberly-Clark Corp.	12,371	$1.493M	0.4%	$69.84	+25.4%	COM	494368103
PFE	Pfizer, Inc.	40,431	$1.464M	0.4%	$17.91	+32.9%	COM	717081103
KELYA	Kelly Services Cl A	52,700	$1.437M	0.4%	$14.88	+66.6%	CL A	488152208
SUI	Sun Communities Inc.	14,748	$1.368M	0.4%	$50.23	—	COM	866674104
—	J.P. Morgan Chase	12,574	$1.345M	0.3%	$56.57	—	COM	46625h100
—	Energy Transfer Partners, L.P.	72,641	$1.302M	0.3%	$30.90	—	UNIT LTD PRT INT	29278n103
ADP	Automatic Data Processing	10,576	$1.239M	0.3%	$48.76	+97.2%	COM	053015103
HD	Home Depot Inc.	6,264	$1.187M	0.3%	$87.35	+62.2%	COM	437076102
LMT	Lockheed Martin Corp	3,591	$1.153M	0.3%	$170.38	+48.8%	COM	539830109
INTC	Intel Corporation	24,315	$1.122M	0.3%	$23.55	+55.2%	COM	458140100
UNP	Union Pacific Corp.	7,751	$1.039M	0.3%	$66.62	+51.3%	COM	907818108
HON	Honeywell International	6,576	$1.008M	0.3%	$91.51	+23.9%	COM	438516106
—	Cerner Corporation	14,450	$974K	0.3%	$68.19	—	COM	156782104
WELL	Welltower Inc.	14,230	$907K	0.2%	$45.03	+11.9%	COM	95040Q104
PDER	Pardee Resources Company, Inc.	4,674	$907K	0.2%	$171.95	+10.6%	COM	699437109
BRK/B	Berkshire Hathaway Inc. Cl B	4,519	$896K	0.2%	$119.51	+58.9%	CL B NEW	084670702
BGS	B&G Foods, Inc.	23,834	$838K	0.2%	$15.58	+8.7%	COM	05508R106
KO	Coca-Cola Co.	17,209	$790K	0.2%	$28.32	+25.8%	COM	191216100
CBU	Community Bank System Inc	14,625	$786K	0.2%	$23.84	+80.2%	COM	203607106
WM	Waste Management Inc.	8,988	$776K	0.2%	$45.07	+56.9%	COM	94106L109
—	Diageo PLC Spon ADR	5,057	$738K	0.2%	$114.76	—	SPON ADR NEW	25243q205
EEM	iShares MSCI Emerging Markets	14,949	$704K	0.2%	$42.65	—	MSCI EMG MKT ETF	464287234
AMZN	Amazon.com Inc.	573	$670K	0.2%	$37.44	+47.0%	COM	023135106
—	Celgene Corp.	6,344	$662K	0.2%	$112.74	—	COM	151020104
DIS	Disney, Walt	5,885	$633K	0.2%	$64.80	+50.1%	COM DISNEY	254687106
SPGI	S&P Global Inc	3,727	$631K	0.2%	$96.34	+57.7%	COM	78409V104
TMO	Thermo Fisher Scientific, Inc.	3,229	$613K	0.2%	$159.40	+17.6%	COM	883556102
IBM	International Business Machine	3,951	$606K	0.2%	$108.37	-5.8%	COM	459200101
BA	Boeing Co.	1,940	$572K	0.1%	$120.78	+113.1%	COM	097023105
—	Cisco Systems Inc.	14,788	$566K	0.1%	$30.27	—	COM	17275r102
—	Buckeye Partners L P Unit Ltd	11,380	$564K	0.1%	$67.58	—	UNIT LTD PARTN	118230101
SHW	Sherwin Williams	1,373	$563K	0.1%	$57.96	+111.0%	COM	824348106
HAIN	Hain Celestial Group Inc.	12,280	$521K	0.1%	$38.78	+2.1%	COM	405217100
IWD	iShares Russell 1000 Value Ind	4,131	$514K	0.1%	$85.26	—	RUS 1000 VAL ETF	464287598
IWM	iShares Russell 2000 Index Fun	3,175	$484K	0.1%	$102.08	—	RUSSELL 2000 ETF	464287655
NEE	NextEra Energy, Inc.	3,009	$470K	0.1%	$18.44	+71.0%	COM	65339F101
ITW	Illinois Tool Works	2,779	$464K	0.1%	$59.02	+121.7%	COM	452308109
—	SPDR Gold Trust	3,745	$463K	0.1%	$124.86	—	GOLD SHS	78463v107
IQV	Iqvia Holdings Inc	4,615	$452K	0.1%	$101.80	0.0%	COM	46266C105
FGD	First Trust Dow Jones Gbl Sele	17,050	$449K	0.1%	$25.33	—	DJ GLBL DIVID	33734X200
IWR	iShares Russell Midcap Index F	2,142	$446K	0.1%	$133.02	—	RUS MID CAP ETF	464287499
SYK	Stryker Corporation	2,810	$435K	0.1%	$71.08	+96.4%	COM	863667101
BMY	Bristol-Myers Squibb	6,981	$428K	0.1%	$32.10	+44.7%	COM	110122108
—	Total System Services, Inc.	5,100	$403K	0.1%	$33.28	—	COM	891906109
CSM	ProShares Large Cap Core Plus	5,970	$399K	0.1%	$60.24	—	PSHS LC COR PLUS	74347R248
SO	Southern Company	8,194	$394K	0.1%	$30.01	+21.5%	COM	842587107
SYY	Sysco Corp.	6,471	$393K	0.1%	$25.71	+78.2%	COM	871829107
EMR	Emerson Electric Co	5,575	$389K	0.1%	$40.45	+31.7%	COM	291011104
—	PowerShares QQQ Nasdaq 100	2,451	$382K	0.1%	$133.86	—	UNIT SER 1	73935a104
BDX	Becton Dickinson & Co.	1,665	$356K	0.1%	$164.34	+12.8%	COM	075887109
META	Facebook, Inc.	2,017	$356K	0.1%	$137.06	+28.1%	CL A	30303M102
—	Raytheon Company	1,892	$355K	0.1%	$112.28	—	COM NEW	755111507
ICE	IntercontinentalExchange, Inc.	4,975	$351K	0.1%	$56.30	+9.8%	COM	45866F104
EPD	Enterprise Products Partners L	13,180	$349K	0.1%	$46.28	—	COM	293792107
AMG	Affiliated Managers Group, Inc	1,650	$339K	0.1%	$158.80	+18.7%	COM	008252108
IJH	iShares Core S&P MidCap	1,771	$336K	0.1%	$171.48	—	CORE S&P MCP ETF	464287507
AFL	AFLAC Inc.	3,801	$334K	0.1%	$20.85	+69.3%	COM	001055102
—	CYS Investments Inc	40,400	$324K	0.1%	$8.14	—	COM	12673a108
SCHE	Schwab Emerging Markets Equity	11,303	$316K	0.1%	$25.15	—	EMRG MKTEQ ETF	808524706
CZNC	Citizens & Northern Corp.	12,875	$309K	0.1%	$10.83	+51.2%	COM	172922106
VWO	Vanguard Emerging Markets	6,479	$297K	0.1%	$38.08	—	FTSE EMR MKT ETF	922042858
—	Invesco Limited	8,019	$293K	0.1%	$35.42	—	SHS	g491bt108
—	Capstead Mortgage Corp.	33,780	$292K	0.1%	$11.92	—	COM NO PAR	14067E506
—	Pinnacle Financial Partners In	4,317	$286K	0.1%	$66.97	—	COM	72346Q104
BIIB	Biogen Idec Inc.	894	$285K	0.1%	$322.08	-0.4%	COM	09062X103
GOOGL	Alphabet Inc. Cl A	263	$277K	0.1%	$42.16	+21.5%	CAP STK CL A	02079K305
IP	International Paper	4,621	$268K	0.1%	$36.54	+2.9%	COM	460146103
MDT	Medtronic PLC	3,272	$264K	0.1%	$62.46	+4.0%	SHS	G5960L103
SCHZ	Schwab US Aggregate Bond ETF	5,032	$262K	0.1%	$52.33	—	US AGGREGATE B	808524839
—	Magellan Midstream Partners, L	3,650	$259K	0.1%	$69.00	—	COM UNIT RP LP	559080106
VMC	Vulcan Materials Co.	2,000	$257K	0.1%	$88.90	+27.9%	COM	929160109
—	AmTrust Financial Services	23,900	$241K	0.1%	$31.42	—	COM	032359309
TIP	iShares Barclays US TIPS Fund	2,075	$237K	0.1%	$116.31	—	TIPS BD ETF	464287176
—	Quanta Services, Inc.	6,062	$237K	0.1%	$37.39	—	COM	74762e102
—	Praxair Inc.	1,515	$234K	0.1%	$132.67	—	COM	74005P104
SMG	The Scotts Miracle-Gro Company	2,175	$233K	0.1%	$67.19	+12.0%	CL A	810186106
AEIS	Advanced Energy Industries, In	3,425	$231K	0.1%	$72.32	+9.2%	COM	007973100
—	Versum Materials Inc	6,030	$228K	0.1%	$28.09	—	COM	92532w103
ROK	Rockwell Automation, Inc.	1,097	$215K	0.1%	$163.96	0.0%	COM	773903109
MCO	Moody's Corporation	1,449	$214K	0.1%	$121.93	+11.8%	COM	615369105
AROW	Arrow Financial Corp.	6,283	$213K	0.1%	$21.16	+12.8%	COM	042744102
COP	ConocoPhillips	3,882	$213K	0.1%	$39.65	0.0%	COM	20825C104
WFC	Wells Fargo	3,437	$209K	0.1%	$45.09	0.0%	COM	949746101
SPY	SPDR S&P 500 ETF Trust	771	$206K	0.1%	$267.19	—	TR UNIT	78462F103
FDX	FedEx Corporation	823	$205K	0.1%	$184.90	+7.7%	COM	31428X106
F	Ford Motor Co.	15,526	$194K	0.0%	$8.05	-0.4%	COM PAR $0.01	345370860
—	Enbridge Energy Partners, L.P.	10,983	$152K	0.0%	$30.49	—	COM	29250r106
—	VIVUS, Inc.	24,500	$12,000	0.0%	$10.77	—	COM	928551100
—	U.S. Rare Earth Minerals Inc.	25,000	$2,000	0.0%	$0.04	—	COM	903410207