Folger Nolan Fleming Douglas Capital Management 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
AMERICAN FUNDS WASHINGTON MUTU	MF	939330825	736	16,071	SH		SOLE		0	0	16,071
FIDELITY 500 INDEX FUND	MF	315911750	1,238	12,057	SH		SOLE		0	0	12,057
FIDELITY CONTRAFUND	MF	316071109	1,023	77,642	SH		SOLE		0	0	77,642
FRANKLIN INCOME ADV CL AD	MF	353496847	76	33,257	SH		SOLE		0	0	33,257
INVESCO GLOBAL CORE EQUITY CL	MF	00141L798	211	14,415	SH		SOLE		0	0	14,415
MFS MASSACHUSETTS INV TRUST CL	MF	575736400	693	22,345	SH		SOLE		0	0	22,345
MFS SER GROWTH FUND CL I	MF	552985863	215	1,832	SH		SOLE		0	0	1,832
NUVEEN INSD DIV ADV MUNI FD CO	MF	67071L106	682	42,948	SH		SOLE		0	0	42,948
NUVEEN MD PREMIUM INC MUNICIPA	MF	67061Q107	298	23,025	SH		SOLE		0	0	23,025
PUTNAM MUNI OPPORTUNITIES TR S	MF	746922103	155	12,262	SH		SOLE		0	0	12,262
T ROWE PRICE ST TAX FREE INCOM	MF	77957R101	261	23,997	SH		SOLE		0	0	23,997
T. ROWE PRICE BLUE CHIP GROWTH	MF	77954Q106	240	2,071	SH		SOLE		0	0	2,071
T. ROWE PRICE HIGH-YIELD	MF	741481105	74	11,268	SH		SOLE		0	0	11,268
T. ROWE PRICE SMALL-CAP VALUE	MF	77957Q103	416	8,846	SH		SOLE		0	0	8,846
VANGUARD WINDSOR FUND ADMIRAL	MF	922018304	617	9,719	SH		SOLE		0	0	9,719
3M CO.	COM	88579Y101	3,171	18,292	SH		SOLE		0	0	18,292
ABBOTT LABORATORIES	COM	002824100	8,191	97,400	SH		SOLE		0	0	97,400
ABBVIE INC	COM	00287Y109	1,305	17,952	SH		SOLE		0	0	17,952
ADOBE SYSTEMS INCORPORATED	COM	00724F101	4,349	14,760	SH		SOLE		0	0	14,760
AIR PRODUCTS & CHEMICALS	COM	009158106	306	1,351	SH		SOLE		0	0	1,351
ALLSTATE CORPORATION	COM	020002101	819	8,058	SH		SOLE		0	0	8,058
ALPHABET INC NON-VOTING CL C	COM	02079K107	6,677	6,177	SH		SOLE		0	0	6,177
ALPHABET INC VOTING CL A	COM	02079K305	528	488	SH		SOLE		0	0	488
ALTRIA GROUP	COM	02209S103	208	4,400	SH		SOLE		0	0	4,400
AMAZON.COM INC	COM	023135106	8,074	4,264	SH		SOLE		0	0	4,264
AMERICAN EXPRESS INC	COM	025816109	3,322	26,915	SH		SOLE		0	0	26,915
AMGEN INC	COM	031162100	954	5,176	SH		SOLE		0	0	5,176
ANADARKO PETROLEUM CORP	COM	032511107	589	8,354	SH		SOLE		0	0	8,354
APPLE INC	COM	037833100	8,394	42,412	SH		SOLE		0	0	42,412
AQUA AMERICA	COM	03836W103	6,741	162,949	SH		SOLE		0	0	162,949
ARCHER DANIELS MIDLAND CO	COM	039483102	1,147	28,111	SH		SOLE		0	0	28,111
AT&T CORP NEW	COM	00206R102	2,006	59,870	SH		SOLE		0	0	59,870
ATMOS ENERGY CORP	COM	049560105	1,813	17,175	SH		SOLE		0	0	17,175
BALL CORP	COM	058498106	273	3,900	SH		SOLE		0	0	3,900
BANK OF AMERICA	COM	060505104	1,200	41,367	SH		SOLE		0	0	41,367
BANK OF NEW YORK MELLON CORP	COM	064058100	921	20,864	SH		SOLE		0	0	20,864
BECTON DICKINSON	COM	075887109	11,033	43,779	SH		SOLE		0	0	43,779
BERKSHIRE HATHAWAY INC DEL CLA	COM	084670108	4,139	13	SH		SOLE		0	0	13
BERKSHIRE HATHAWAY INC DEL CLA	COM	084670702	745	3,494	SH		SOLE		0	0	3,494
BOEING	COM	097023105	3,603	9,898	SH		SOLE		0	0	9,898
BP PLC SPONS ADR	COM	055622104	307	7,367	SH		SOLE		0	0	7,367
BRISTOL-MYERS SQUIBB COMPANY	COM	110122108	727	16,023	SH		SOLE		0	0	16,023
C S X CORPORATION	COM	126408103	542	7,000	SH		SOLE		0	0	7,000
CABLE ONE INC	COM	12685J105	441	377	SH		SOLE		0	0	377
CATERPILLAR INCORPORATED	COM	149123101	5,017	36,811	SH		SOLE		0	0	36,811
CHEMOURS CO	COM	163851108	17,421	725,884	SH		SOLE		0	0	725,884
CHEVRON CORP	COM	166764100	7,560	60,754	SH		SOLE		0	0	60,754
CHURCH & DWIGHT CO INC	COM	171340102	11,141	152,493	SH		SOLE		0	0	152,493
CIMAREX ENERGY CO.	COM	171798101	225	3,795	SH		SOLE		0	0	3,795
CISCO SYSTEMS INC	COM	17275R102	7,734	141,313	SH		SOLE		0	0	141,313
COASTAL CARIBBEAN OILS & MINER	COM	190432203	0	69,910	SH		SOLE		0	0	69,910
COCA-COLA COMPANY	COM	191216100	2,093	41,100	SH		SOLE		0	0	41,100
COLGATE-PALMOLIVE COMPANY	COM	194162103	448	6,252	SH		SOLE		0	0	6,252
COMCAST CORP NEW CL A	COM	20030N101	354	8,380	SH		SOLE		0	0	8,380
CONOCOPHILLIPS	COM	20825C104	338	5,534	SH		SOLE		0	0	5,534
CORNING INC.	COM	219350105	807	24,300	SH		SOLE		0	0	24,300
CORTEVA INC	COM	22052L104	32,693	1,105,625	SH		SOLE		0	0	1,105,625
CVS CAREMARK CORPORATION	COM	126650100	439	8,050	SH		SOLE		0	0	8,050
DANAHER CORP	COM	235851102	604	4,225	SH		SOLE		0	0	4,225
DEERE AND CO.	COM	244199105	207	1,250	SH		SOLE		0	0	1,250
DENTSPLY SIRONA INC	COM	24906P109	2,585	44,287	SH		SOLE		0	0	44,287
DISCOVER FINANCIAL SERVICES	COM	254709108	673	8,677	SH		SOLE		0	0	8,677
DOMINION RESOURCES INC OF VA	COM	25746U109	4,163	53,841	SH		SOLE		0	0	53,841
DOVER CORPORATION	COM	260003108	229	2,285	SH		SOLE		0	0	2,285
DOW CHEMICAL COMPANY (THE)	COM	260543103	54,518	1,105,625	SH		SOLE		0	0	1,105,625
DTE ENERGY	COM	233331107	385	3,011	SH		SOLE		0	0	3,011
DU PONT (E.I.) DE NEMOURS & CO	COM	263534109	82,999	1,105,624	SH		SOLE		0	0	1,105,624
DUKE ENERGY CORP	COM	26441C204	1,434	16,247	SH		SOLE		0	0	16,247
ELI LILLY & CO	COM	532457108	534	4,822	SH		SOLE		0	0	4,822
EMERSON ELECTRIC CO.	COM	291011104	956	14,331	SH		SOLE		0	0	14,331
ENBRIDGE INC.	COM	29250N105	965	26,747	SH		SOLE		0	0	26,747
EXELON CORP	COM	30161N101	211	4,406	SH		SOLE		0	0	4,406
EXXON MOBIL CORPORATION	COM	30231G102	11,817	154,215	SH		SOLE		0	0	154,215
FEDERAL REALTY INV TR S B I	COM	313747206	1,424	11,059	SH		SOLE		0	0	11,059
FEDEX CORP	COM	31428X106	5,085	30,973	SH		SOLE		0	0	30,973
FISERV INC	COM	337738108	273	3,000	SH		SOLE		0	0	3,000
FORTIVE CORP	COM	34959J108	302	3,710	SH		SOLE		0	0	3,710
FRANKLIN RESOURCES INC	COM	354613101	783	22,495	SH		SOLE		0	0	22,495
GENERAL ELECTRIC COMPANY	COM	369604103	2,356	224,336	SH		SOLE		0	0	224,336
GENERAL MILLS INC	COM	370334104	732	13,944	SH		SOLE		0	0	13,944
GRAHAM HOLDINGS CO.	COM	384637104	241	349	SH		SOLE		0	0	349
HEALTH CARE PPTY INVS	COM	40414L109	212	6,624	SH		SOLE		0	0	6,624
HERSHEY COMPANY	COM	427866108	1,583	11,812	SH		SOLE		0	0	11,812
HOME DEPOT	COM	437076102	1,025	4,930	SH		SOLE		0	0	4,930
HONEYWELL INTERNATIONAL INC	COM	438516106	2,973	17,028	SH		SOLE		0	0	17,028
ILLINOIS TOOL WORKS INC.	COM	452308109	10,108	67,022	SH		SOLE		0	0	67,022
INTEL CORP COM	COM	458140100	6,157	128,628	SH		SOLE		0	0	128,628
INTERNATIONAL BUSINESS MACHINE	COM	459200101	3,052	22,132	SH		SOLE		0	0	22,132
INTERNATIONAL FLAVORS & FRAGRA	COM	459506101	218	1,500	SH		SOLE		0	0	1,500
INTERNATIONAL PAPER CO	COM	460146103	247	5,709	SH		SOLE		0	0	5,709
INTUIT INC	COM	461202103	941	3,600	SH		SOLE		0	0	3,600
ISHARES MSCI EAFE INDEX	COM	464287465	393	5,984	SH		SOLE		0	0	5,984
ISHARES NASDAQ BIOTECH INDEX	COM	464287556	5,862	53,726	SH		SOLE		0	0	53,726
ISHARES RUSSELL 2000 IDX	COM	464287655	5,004	32,179	SH		SOLE		0	0	32,179
ISHARES RUSSELL MIDCAP INDEX	COM	464287499	6,935	124,123	SH		SOLE		0	0	124,123
JOHNSON & JOHNSON	COM	478160104	15,774	113,257	SH		SOLE		0	0	113,257
JPMORGAN CHASE & CO.	COM	46625H100	10,494	93,862	SH		SOLE		0	0	93,862
KELLOGG COMPANY	COM	487836108	2,255	42,096	SH		SOLE		0	0	42,096
KEYCORP	COM	493267108	224	12,600	SH		SOLE		0	0	12,600
KIMBERLY-CLARK CORP	COM	494368103	2,982	22,372	SH		SOLE		0	0	22,372
LABORATORY CORP OF AMERICA	COM	50540R409	989	5,722	SH		SOLE		0	0	5,722
LINDE PLC	COM	G5494J103	407	2,025	SH		SOLE		0	0	2,025
LOCKHEED MARTIN	COM	539830109	691	1,900	SH		SOLE		0	0	1,900
LOWES COS	COM	548661107	10,993	108,943	SH		SOLE		0	0	108,943
M & T BANK CORP	COM	55261F104	2,304	13,550	SH		SOLE		0	0	13,550
MANPOWER INC WISCONSIN	COM	56418H100	456	4,724	SH		SOLE		0	0	4,724
MARRIOTT INTERNATIONAL, NEW IN	COM	571903202	7,648	54,516	SH		SOLE		0	0	54,516
MC DONALD'S CORPORATION	COM	580135101	11,997	57,772	SH		SOLE		0	0	57,772
MEDTRONIC INC	COM	G5960L103	466	4,782	SH		SOLE		0	0	4,782
MERCK & COMPANY INCORPORATED N	COM	58933Y105	6,182	73,729	SH		SOLE		0	0	73,729
MICROSOFT CORPORATION	COM	594918104	17,310	129,220	SH		SOLE		0	0	129,220
MONDELEZ INTL INC	COM	609207105	256	4,747	SH		SOLE		0	0	4,747
MORGAN STANLEY & CO	COM	617446448	653	14,908	SH		SOLE		0	0	14,908
MOTOROLA SOLUTIONS, INC	COM	620076307	864	5,184	SH		SOLE		0	0	5,184
NATIONAL FUEL GAS CO	COM	636180101	201	3,818	SH		SOLE		0	0	3,818
NESTLE SA REG ADR	COM	641069406	227	2,200	SH		SOLE		0	0	2,200
NEXTERA ENERGY	COM	65339F101	4,533	22,127	SH		SOLE		0	0	22,127
NORFOLK SOUTHERN CORP	COM	655844108	299	1,500	SH		SOLE		0	0	1,500
NORTHERN TRUST CORP	COM	665859104	936	10,400	SH		SOLE		0	0	10,400
ORACLE CORP	COM	68389X105	448	7,868	SH		SOLE		0	0	7,868
PEPSICO INCORPORATED	COM	713448108	12,340	94,104	SH		SOLE		0	0	94,104
PFIZER INCORPORATED	COM	717081103	1,613	37,245	SH		SOLE		0	0	37,245
PHILIP MORRIS INTERNATIONAL	COM	718172109	383	4,875	SH		SOLE		0	0	4,875
PHILLIPS 66	COM	718546104	433	4,626	SH		SOLE		0	0	4,626
PIONEER NAT RES CO	COM	723787107	231	1,500	SH		SOLE		0	0	1,500
PNC FINANCIAL SERVICES GROUP	COM	693475105	500	3,644	SH		SOLE		0	0	3,644
POWERSHARES QQQ TR ETF SERIES	COM	73935A104	1,160	6,211	SH		SOLE		0	0	6,211
PROCTER & GAMBLE COMPANY	COM	742718109	14,800	134,979	SH		SOLE		0	0	134,979
PUBLIC SERVICE ENTERPRISE GROU	COM	744573106	278	4,725	SH		SOLE		0	0	4,725
SAUL CENTERS INC.	COM	804395101	392	6,978	SH		SOLE		0	0	6,978
SELECT SECTOR SPDR TR UTILITIE	COM	81369Y886	268	4,500	SH		SOLE		0	0	4,500
SMUCKER J.M. CO	COM	832696405	577	5,006	SH		SOLE		0	0	5,006
SOUTHERN COMPANY (THE)	COM	842587107	2,983	53,958	SH		SOLE		0	0	53,958
SPDR S&P 500 ETF	COM	78462F103	331	1,128	SH		SOLE		0	0	1,128
SYSCO CORPORATION	COM	871829107	1,234	17,450	SH		SOLE		0	0	17,450
T ROWE PRICE GROUP INC.	COM	74144T108	11,228	102,339	SH		SOLE		0	0	102,339
TARGET CORP	COM	87612E106	529	6,105	SH		SOLE		0	0	6,105
TEXAS INSTRUMENTS	COM	882508104	742	6,465	SH		SOLE		0	0	6,465
THE TJX COMPANIES	COM	872540109	212	4,000	SH		SOLE		0	0	4,000
THE TRAVELERS COS INC	COM	89417E109	617	4,127	SH		SOLE		0	0	4,127
THERMO FISHER SCIENTIFIC	COM	883556102	468	1,595	SH		SOLE		0	0	1,595
UDR INC	COM	902653104	922	20,549	SH		SOLE		0	0	20,549
UNILEVER	COM	904784709	291	4,800	SH		SOLE		0	0	4,800
UNION PACIFIC CORP	COM	907818108	6,204	36,688	SH		SOLE		0	0	36,688
UNITED HEALTHCARE CORP	COM	91324P102	6,068	24,868	SH		SOLE		0	0	24,868
UNITED TECHNOLOGIES CORP COM	COM	913017109	7,795	59,868	SH		SOLE		0	0	59,868
US BANCORP DEL (NEW)	COM	902973304	251	4,781	SH		SOLE		0	0	4,781
VANGUARD EMERGING MARKETS ETF	COM	922042858	786	18,489	SH		SOLE		0	0	18,489
VANGUARD FTSE DEVELOPED MARKET	COM	921943858	1,211	29,024	SH		SOLE		0	0	29,024
VANGUARD INFORMATION TECHNOLOG	COM	92204A702	45,182	214,242	SH		SOLE		0	0	214,242
VANGUARD MID CAP ETF	COM	922908629	5,792	34,649	SH		SOLE		0	0	34,649
VANGUARD REIT ETF	COM	922908553	566	6,480	SH		SOLE		0	0	6,480
VANGUARD S&P ETF	COM	922908363	902	3,350	SH		SOLE		0	0	3,350
VANGUARD SMALL CAP ETF	COM	922908751	4,342	27,713	SH		SOLE		0	0	27,713
VANGUARD TOTAL STOCK MARKET	COM	922908769	2,720	18,120	SH		SOLE		0	0	18,120
VERIZON COMMUNICATIONS	COM	92343V104	3,955	69,225	SH		SOLE		0	0	69,225
VISA INC CLASS A	COM	92826C839	11,696	67,393	SH		SOLE		0	0	67,393
VULCAN MATERIALS CO	COM	929160109	330	2,400	SH		SOLE		0	0	2,400
WAL-MART STORES INC	COM	931142103	353	3,192	SH		SOLE		0	0	3,192
WALGREENS BOOTS ALLIANCE, INC.	COM	931427108	4,304	78,720	SH		SOLE		0	0	78,720
WALT DISNEY COMPANY	COM	254687106	8,876	63,562	SH		SOLE		0	0	63,562
WASH REAL ESTATE INV TRUST S B	COM	939653101	2,311	86,475	SH		SOLE		0	0	86,475
WASTE CONNECTIONS INC	COM	94106B101	363	3,800	SH		SOLE		0	0	3,800
WEINGARTEN REALTY INVS S B I	COM	948741103	2,185	79,689	SH		SOLE		0	0	79,689
WELLS FARGO & CO. NEW	COM	949746101	5,465	115,485	SH		SOLE		0	0	115,485
WEYERHAEUSER CO	COM	962166104	338	12,837	SH		SOLE		0	0	12,837
WHITE MOUNTAINS INS.	COM	G9618E107	203	199	SH		SOLE		0	0	199
YUM BRANDS INC	COM	988498101	221	1,995	SH		SOLE		0	0	1,995
ZIMMER BIOMET HOLDINGS INC.	COM	98956P102	393	3,340	SH		SOLE		0	0	3,340