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
3M CO.	COM	88579Y101	2,164,000	18,045	SH		SOLE		0	0	18,045
ABBOTT LABORATORIES	COM	002824100	10,616,000	95,622	SH		SOLE		0	0	95,622
ABBVIE INC	COM	00287Y109	3,454,000	21,375	SH		SOLE		0	0	21,375
ADOBE SYSTEMS INCORPORATED	COM	00724F101	5,099,000	14,867	SH		SOLE		0	0	14,867
AFLAC INCORPORATED	COM	001055102	245,000	3,400	SH		SOLE		0	0	3,400
AIR PRODUCTS & CHEMICALS	COM	009158106	422,000	1,368	SH		SOLE		0	0	1,368
ALLSTATE CORPORATION	COM	020002101	710,000	5,237	SH		SOLE		0	0	5,237
ALPHABET INC NON-VOTING CL C	COM	02079K107	11,765,000	129,737	SH		SOLE		0	0	129,737
ALPHABET INC VOTING CL A	COM	02079K305	907,000	10,280	SH		SOLE		0	0	10,280
ALTRIA GROUP	COM	02209S103	354,000	7,750	SH		SOLE		0	0	7,750
AMAZON.COM INC	COM	023135106	8,939,000	105,677	SH		SOLE		0	0	105,677
AMERICAN ELECTRIC POWER	COM	025537101	442,000	4,658	SH		SOLE		0	0	4,658
AMERICAN EXPRESS INC	COM	025816109	4,144,000	27,107	SH		SOLE		0	0	27,107
AMGEN INC	COM	031162100	1,299,000	4,946	SH		SOLE		0	0	4,946
APPLE INC	COM	037833100	22,829,000	174,535	SH		SOLE		0	0	174,535
ARCHER DANIELS MIDLAND CO	COM	039483102	1,417,000	15,266	SH		SOLE		0	0	15,266
AT&T CORP NEW	COM	00206R102	681,000	36,965	SH		SOLE		0	0	36,965
ATMOS ENERGY CORP	COM	049560105	2,803,000	24,493	SH		SOLE		0	0	24,493
BANK OF AMERICA	COM	060505104	1,637,000	49,424	SH		SOLE		0	0	49,424
BANK OF NEW YORK MELLON CORP	COM	064058100	619,000	13,596	SH		SOLE		0	0	13,596
BECTON DICKINSON	COM	075887109	11,426,000	44,464	SH		SOLE		0	0	44,464
BERKSHIRE HATHAWAY INC DEL CLA	COM	084670108	3,750,000	8	SH		SOLE		0	0	8
BERKSHIRE HATHAWAY INC DEL CLA	COM	084670702	1,191,000	3,855	SH		SOLE		0	0	3,855
BOEING	COM	097023105	1,838,000	9,648	SH		SOLE		0	0	9,648
BP PLC SPONS ADR	COM	055622104	240,000	6,876	SH		SOLE		0	0	6,876
BRISTOL-MYERS SQUIBB COMPANY	COM	110122108	1,360,000	18,898	SH		SOLE		0	0	18,898
C S X CORPORATION	COM	126408103	872,000	28,151	SH		SOLE		0	0	28,151
CABLE ONE INC	COM	12685J105	223,000	313	SH		SOLE		0	0	313
CARRIER GLOBAL	COM	14448C104	493,000	11,960	SH		SOLE		0	0	11,960
CATERPILLAR INCORPORATED	COM	149123101	8,873,000	36,471	SH		SOLE		0	0	36,471
CHEMOURS CO	COM	163851108	22,112,000	722,140	SH		SOLE		0	0	722,140
CHESAPEAKE UTIL CO	COM	165303108	204,000	1,725	SH		SOLE		0	0	1,725
CHEVRON CORP	COM	166764100	9,458,000	51,441	SH		SOLE		0	0	51,441
CHURCH & DWIGHT CO INC	COM	171340102	12,046,000	148,054	SH		SOLE		0	0	148,054
CIGNA CORP	COM	125509109	221,000	668	SH		SOLE		0	0	668
CINTAS CORP	COM	172908105	257,000	570	SH		SOLE		0	0	570
CISCO SYSTEMS INC	COM	17275R102	7,112,000	143,709	SH		SOLE		0	0	143,709
COCA-COLA COMPANY	COM	191216100	2,710,000	42,597	SH		SOLE		0	0	42,597
COLGATE-PALMOLIVE COMPANY	COM	194162103	437,000	5,552	SH		SOLE		0	0	5,552
COMCAST CORP NEW CL A	COM	20030N101	278,000	7,945	SH		SOLE		0	0	7,945
CONOCOPHILLIPS	COM	20825C104	888,000	7,528	SH		SOLE		0	0	7,528
CORNING INC.	COM	219350105	754,000	23,600	SH		SOLE		0	0	23,600
CORTEVA INC	COM	22052L104	69,585,000	1,183,823	SH		SOLE		0	0	1,183,823
CVS CAREMARK CORPORATION	COM	126650100	1,101,000	11,813	SH		SOLE		0	0	11,813
DANAHER CORP	COM	235851102	987,000	3,720	SH		SOLE		0	0	3,720
DEERE AND CO.	COM	244199105	665,000	1,550	SH		SOLE		0	0	1,550
DENTSPLY SIRONA INC	COM	24906P109	747,000	23,460	SH		SOLE		0	0	23,460
DISCOVER FINANCIAL SERVICES	COM	254709108	304,000	3,111	SH		SOLE		0	0	3,111
DNP SELECT INCOME FUND INC	COM	23325P104	171,000	15,200	SH		SOLE		0	0	15,200
DOMINION RESOURCES INC OF VA	COM	25746U109	3,166,000	50,989	SH		SOLE		0	0	50,989
DOVER CORPORATION	COM	260003108	370,000	2,735	SH		SOLE		0	0	2,735
DOW CHEMICAL COMPANY (THE)	COM	260557103	61,462,000	1,219,721	SH		SOLE		0	0	1,219,721
DTE ENERGY	COM	233331107	400,000	3,404	SH		SOLE		0	0	3,404
DU PONT (E.I.) DE NEMOURS & CO	COM	263534109	70,568,000	1,028,231	SH		SOLE		0	0	1,028,231
DUKE ENERGY CORP	COM	26441C204	1,561,000	14,625	SH		SOLE		0	0	14,625
ELEVANCE HEALTH INC	COM	036752103	215,000	419	SH		SOLE		0	0	419
ELI LILLY & CO	COM	532457108	1,947,000	5,322	SH		SOLE		0	0	5,322
ELME COMMUNITIES	COM	939653101	1,000,000	56,490	SH		SOLE		0	0	56,490
EMERSON ELECTRIC CO.	COM	291011104	1,419,000	14,776	SH		SOLE		0	0	14,776
ENBRIDGE INC.	COM	29250N105	982,000	25,109	SH		SOLE		0	0	25,109
ESSENTIAL UTILITIES INC	COM	29670G102	8,247,000	171,732	SH		SOLE		0	0	171,732
EXELON CORP	COM	30161N101	292,000	6,760	SH		SOLE		0	0	6,760
EXXON MOBIL CORPORATION	COM	30231G102	12,831,000	116,327	SH		SOLE		0	0	116,327
FEDERAL REALTY INV TR S B I	COM	313745101	857,000	8,479	SH		SOLE		0	0	8,479
FEDEX CORP	COM	31428X106	4,657,000	26,886	SH		SOLE		0	0	26,886
FISERV INC	COM	337738108	312,000	3,090	SH		SOLE		0	0	3,090
FNB CORP	COM	302520101	194,000	15,390	SH		SOLE		0	0	15,390
FRANKLIN RESOURCES INC	COM	354613101	573,000	21,720	SH		SOLE		0	0	21,720
GENERAL ELECTRIC COMPANY	COM	369604301	1,141,000	13,622	SH		SOLE		0	0	13,622
GENERAL MILLS INC	COM	370334104	1,209,000	14,423	SH		SOLE		0	0	14,423
GLOBALSTAR INC	COM	378973408	20,000	15,000	SH		SOLE		0	0	15,000
GRAHAM HOLDINGS CO.	COM	384637104	209,000	346	SH		SOLE		0	0	346
HARLEY DAVIDSON INC	COM	412822108	223,000	5,362	SH		SOLE		0	0	5,362
HEALTH PEAK PROPERTIES INC	COM	42250P103	207,000	8,274	SH		SOLE		0	0	8,274
HERSHEY COMPANY	COM	427866108	2,834,000	12,237	SH		SOLE		0	0	12,237
HOME DEPOT	COM	437076102	1,831,000	5,798	SH		SOLE		0	0	5,798
HONEYWELL INTERNATIONAL INC	COM	438516106	5,992,000	27,472	SH		SOLE		0	0	27,472
HP INC	COM	40434L105	210,000	7,819	SH		SOLE		0	0	7,819
ILLINOIS TOOL WORKS INC.	COM	452308109	13,204,000	59,548	SH		SOLE		0	0	59,548
INTEL CORP COM	COM	458140100	3,519,000	127,956	SH		SOLE		0	0	127,956
INTERNATIONAL BUSINESS MACHINE	COM	459200101	2,058,000	14,609	SH		SOLE		0	0	14,609
INTERNATIONAL FLAVORS & FRAGRA	COM	459506101	14,676,000	139,978	SH		SOLE		0	0	139,978
INTUIT INC	COM	461202103	1,401,000	3,600	SH		SOLE		0	0	3,600
ISHARES MSCI EAFE INDEX	COM	464287465	223,000	3,390	SH		SOLE		0	0	3,390
ISHARES NASDAQ BIOTECH INDEX	COM	464287556	8,820,000	66,840	SH		SOLE		0	0	66,840
ISHARES RUSSELL 2000 IDX	COM	464287655	5,082,000	29,149	SH		SOLE		0	0	29,149
ISHARES RUSSELL MIDCAP INDEX	COM	464287499	7,535,000	111,705	SH		SOLE		0	0	111,705
JOHNSON & JOHNSON	COM	478160104	19,345,000	108,749	SH		SOLE		0	0	108,749
JPMORGAN CHASE & CO.	COM	46625H100	13,335,000	98,553	SH		SOLE		0	0	98,553
KELLOGG COMPANY	COM	487836108	2,676,000	37,561	SH		SOLE		0	0	37,561
KIMBERLY-CLARK CORP	COM	494368103	2,543,000	18,736	SH		SOLE		0	0	18,736
KIMCO REALTY CORP REIT	COM	49446R109	1,266,000	59,783	SH		SOLE		0	0	59,783
KRAFT HEINZ CO	COM	500754106	210,000	5,165	SH		SOLE		0	0	5,165
LABORATORY CORP OF AMERICA	COM	50540R409	1,727,000	7,047	SH		SOLE		0	0	7,047
LINDE PLC	COM	G5494J103	434,000	1,330	SH		SOLE		0	0	1,330
LOCKHEED MARTIN	COM	539830109	1,055,000	2,169	SH		SOLE		0	0	2,169
LOWES COS	COM	548661107	18,013,000	89,751	SH		SOLE		0	0	89,751
M & T BANK CORP	COM	55261F104	1,966,000	13,550	SH		SOLE		0	0	13,550
MANPOWER INC WISCONSIN	COM	56418H100	393,000	4,724	SH		SOLE		0	0	4,724
MARRIOTT INTERNATIONAL, NEW IN	COM	571903202	9,417,000	62,407	SH		SOLE		0	0	62,407
MARRIOTT VACATIONS WORLDWIDE C	COM	57164Y107	239,000	1,775	SH		SOLE		0	0	1,775
MC DONALD'S CORPORATION	COM	580135101	15,057,000	56,626	SH		SOLE		0	0	56,626
MEDTRONIC INC	COM	G5960L103	435,000	5,600	SH		SOLE		0	0	5,600
MERCK & COMPANY INCORPORATED N	COM	58933Y105	10,452,000	92,730	SH		SOLE		0	0	92,730
MICROSOFT CORPORATION	COM	594918104	27,768,000	115,188	SH		SOLE		0	0	115,188
MONDELEZ INTL INC	COM	609207105	577,000	8,661	SH		SOLE		0	0	8,661
MORGAN STANLEY & CO	COM	617446448	750,000	8,820	SH		SOLE		0	0	8,820
MOTOROLA SOLUTIONS, INC	COM	620076307	1,290,000	5,004	SH		SOLE		0	0	5,004
NATIONAL FUEL GAS CO	COM	636180101	270,000	4,268	SH		SOLE		0	0	4,268
NESTLE SA REG ADR	COM	641069406	290,000	2,518	SH		SOLE		0	0	2,518
NEXTERA ENERGY	COM	65339F101	8,980,000	106,772	SH		SOLE		0	0	106,772
NIKE INC CLASS B	COM	654106103	221,000	1,893	SH		SOLE		0	0	1,893
NORFOLK SOUTHERN CORP	COM	655844108	377,000	1,531	SH		SOLE		0	0	1,531
NORTHERN TRUST CORP	COM	665859104	920,000	10,400	SH		SOLE		0	0	10,400
NORTHROP GRUMMAN CORP	COM	666807102	543,000	995	SH		SOLE		0	0	995
NVIDIA CORP	COM	67066G104	1,112,000	7,612	SH		SOLE		0	0	7,612
ORACLE CORP	COM	68389X105	730,000	8,929	SH		SOLE		0	0	8,929
OTIS WORLDWIDE INC	COM	68902V107	609,000	7,781	SH		SOLE		0	0	7,781
PARTNERS BANCORP	COM	70213Q108	146,000	16,476	SH		SOLE		0	0	16,476
PEPSICO INCORPORATED	COM	713448108	17,380,000	95,397	SH		SOLE		0	0	95,397
PFIZER INCORPORATED	COM	717081103	2,005,000	39,132	SH		SOLE		0	0	39,132
PHILIP MORRIS INTERNATIONAL	COM	718172109	517,000	5,110	SH		SOLE		0	0	5,110
PHILLIPS 66	COM	718546104	242,000	2,325	SH		SOLE		0	0	2,325
PIONEER NAT RES CO	COM	723787107	251,000	1,100	SH		SOLE		0	0	1,100
PNC FINANCIAL SERVICES GROUP	COM	693475105	846,000	5,355	SH		SOLE		0	0	5,355
POWERSHARES QQQ TR ETF SERIES	COM	73935A104	1,674,000	6,286	SH		SOLE		0	0	6,286
PROCTER & GAMBLE COMPANY	COM	742718109	19,649,000	128,765	SH		SOLE		0	0	128,765
PUBLIC SERVICE ENTERPRISE GROU	COM	744573106	297,000	4,840	SH		SOLE		0	0	4,840
RAYTHEON TECHNOLOGIES CORP	COM	75513E101	8,834,000	86,518	SH		SOLE		0	0	86,518
SAUL CENTERS INC.	COM	804395101	264,000	6,501	SH		SOLE		0	0	6,501
SELECT SECTOR SPDR TR UTILITIE	COM	81369Y886	317,000	4,500	SH		SOLE		0	0	4,500
SHELL PLC ADR	COM	780259305	231,000	4,054	SH		SOLE		0	0	4,054
SMUCKER J.M. CO	COM	832696405	825,000	5,206	SH		SOLE		0	0	5,206
SOUTHERN COMPANY (THE)	COM	842587107	3,317,000	46,443	SH		SOLE		0	0	46,443
SPDR S&P 500 ETF	COM	78462F103	431,000	1,128	SH		SOLE		0	0	1,128
SYSCO CORPORATION	COM	871829107	1,356,000	17,733	SH		SOLE		0	0	17,733
T ROWE PRICE GROUP INC.	COM	74144T108	10,317,000	93,859	SH		SOLE		0	0	93,859
TARGET CORP	COM	87612E106	812,000	5,445	SH		SOLE		0	0	5,445
TEXAS INSTRUMENTS	COM	882508104	1,282,000	7,758	SH		SOLE		0	0	7,758
THE TJX COMPANIES	COM	872540109	318,000	4,000	SH		SOLE		0	0	4,000
THE TRAVELERS COS INC	COM	89417E109	739,000	3,939	SH		SOLE		0	0	3,939
THERMO FISHER SCIENTIFIC	COM	883556102	601,000	1,091	SH		SOLE		0	0	1,091
TRUIST FINANCIAL CORP	COM	89832Q109	476,000	11,071	SH		SOLE		0	0	11,071
UDR INC	COM	902653104	758,000	19,571	SH		SOLE		0	0	19,571
UNILEVER PLC SPONS ADR	COM	904767704	242,000	4,800	SH		SOLE		0	0	4,800
UNION PACIFIC CORP	COM	907818108	6,679,000	31,753	SH		SOLE		0	0	31,753
UNITED HEALTHCARE CORP	COM	91324P102	12,005,000	22,644	SH		SOLE		0	0	22,644
UNITED PARCEL SERVICE INC CL B	COM	911312106	345,000	1,983	SH		SOLE		0	0	1,983
VANGUARD EMERGING MARKETS ETF	COM	922042858	578,000	14,827	SH		SOLE		0	0	14,827
VANGUARD FTSE DEVELOPED MARKET	COM	921943858	1,024,000	24,406	SH		SOLE		0	0	24,406
VANGUARD INFORMATION TECHNOLOG	COM	92204A702	63,428,000	198,579	SH		SOLE		0	0	198,579
VANGUARD MID CAP ETF	COM	922908629	7,295,000	35,277	SH		SOLE		0	0	35,277
VANGUARD REIT ETF	COM	922908553	1,833,000	21,650	SH		SOLE		0	0	21,650
VANGUARD S&P ETF	COM	922908363	861,000	2,450	SH		SOLE		0	0	2,450
VANGUARD SMALL CAP ETF	COM	922908751	5,298,000	28,591	SH		SOLE		0	0	28,591
VANGUARD TOTAL STOCK MARKET	COM	922908769	4,543,000	23,789	SH		SOLE		0	0	23,789
VERIZON COMMUNICATIONS	COM	92343V104	3,043,000	77,241	SH		SOLE		0	0	77,241
VISA INC CLASS A	COM	92826C839	11,833,000	56,319	SH		SOLE		0	0	56,319
VULCAN MATERIALS CO	COM	929160109	437,000	2,498	SH		SOLE		0	0	2,498
WAL-MART STORES INC	COM	931142103	1,476,000	10,412	SH		SOLE		0	0	10,412
WALGREENS BOOTS ALLIANCE, INC.	COM	931427108	543,000	14,530	SH		SOLE		0	0	14,530
WALT DISNEY COMPANY	COM	254687106	6,927,000	79,049	SH		SOLE		0	0	79,049
WASTE CONNECTIONS INC	COM	94106B101	252,000	1,900	SH		SOLE		0	0	1,900
WASTE MANAGEMENT INC.	COM	94106L109	202,000	1,288	SH		SOLE		0	0	1,288
WELLS FARGO & CO. NEW	COM	949746101	4,405,000	102,993	SH		SOLE		0	0	102,993
WEYERHAEUSER CO	COM	962166104	240,000	7,729	SH		SOLE		0	0	7,729
WHITE MOUNTAINS INS.	COM	G9618E107	281,000	199	SH		SOLE		0	0	199
YUM BRANDS INC	COM	988498101	246,000	1,919	SH		SOLE		0	0	1,919
ZIMMER BIOMET HOLDINGS INC.	COM	98956P102	212,000	1,665	SH		SOLE		0	0	1,665