Armbruster Capital Management, Inc. Buys iShares Core MSCI EAFE, SPDR Portfolio Aggregate Bond, SPDR Portfolio Developed World ex-US, Sells PowerShares S&P 500 Pure Value Portfolio, PowerShares S&P Smallcap 600 Pure Value Portfolio, Vanguard Real Estate

• New Purchases: SPAB, SPDW, GLIBA, GLIBA, NBTB, NWFL, CAG, LW,
• Added Positions: SCHF, SPLV, IEFA, SCHE, VEA, IEMG, IJR, SCHZ, IVV, VV,
• Reduced Positions: VNQ, MTUM, SCHH, SPY, VBR, VO, BND, SCHM, JNJ, MSFT,
• Sold Out: RPV, RZV, DMRC, IBN, IWD, GWL, BIDU, RSP, PKG, HAS,

For the details of Armbruster Capital Management, Inc.'s stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=Armbruster+Capital+Management%2C+Inc.

1. iShares Edge MSCI USA Momentum Factor (MTUM) - 312,995 shares, 21.28% of the total portfolio. Shares reduced by 5.32%
2. iShares Core S&P Mid-Cap (IJH) - 78,078 shares, 9.4% of the total portfolio. Shares added by 0.80%
3. Vanguard FTSE Developed Markets (VEA) - 306,425 shares, 8.71% of the total portfolio. Shares added by 2.12%
4. Schwab International Equity (SCHF) - 341,673 shares, 7.39% of the total portfolio. Shares added by 12.91%
5. PowerShares S&P 500 Low Volatility Portfolio (SPLV) - 167,755 shares, 5.06% of the total portfolio. Shares added by 15.06%

Armbruster Capital Management, Inc. initiated holding in SPDR Portfolio Aggregate Bond. The purchase prices were between $27.94 and $28.64, with an estimated average price of $28.19. The stock is now traded at around $28.07. The impact to a portfolio due to this purchase was 0.11%. The holding were 6,370 shares as of 2018-03-31.

Armbruster Capital Management, Inc. initiated holding in SPDR Portfolio Developed World ex-US. The purchase prices were between $30.65 and $33.82, with an estimated average price of $32.08. The stock is now traded at around $32.08. The impact to a portfolio due to this purchase was 0.03%. The holding were 1,622 shares as of 2018-03-31.

Armbruster Capital Management, Inc. initiated holding in GCI Liberty Inc. The purchase prices were between $50.96 and $60.27, with an estimated average price of $55.62. The stock is now traded at around $51.94. The impact to a portfolio due to this purchase was 0.02%. The holding were 520 shares as of 2018-03-31.

Armbruster Capital Management, Inc. initiated holding in GCI Liberty Inc. The purchase prices were between $50.96 and $60.27, with an estimated average price of $55.62. The stock is now traded at around $51.94. The impact to a portfolio due to this purchase was 0.02%. The holding were 520 shares as of 2018-03-31.

Armbruster Capital Management, Inc. initiated holding in Norwood Financial Corp. The purchase prices were between $28.85 and $32.98, with an estimated average price of $30.8. The stock is now traded at around $30.11. The impact to a portfolio due to this purchase was 0.01%. The holding were 348 shares as of 2018-03-31.

Armbruster Capital Management, Inc. initiated holding in NBT Bancorp Inc. The purchase prices were between $34.63 and $38.37, with an estimated average price of $36.65. The stock is now traded at around $35.78. The impact to a portfolio due to this purchase was 0.01%. The holding were 575 shares as of 2018-03-31.

Armbruster Capital Management, Inc. added to a holding in iShares Core MSCI EAFE by 25.44%. The purchase prices were between $64.18 and $70.84, with an estimated average price of $67.19. The stock is now traded at around $67.28. The impact to a portfolio due to this purchase was 0.5%. The holding were 58,720 shares as of 2018-03-31.

Armbruster Capital Management, Inc. added to a holding in Alibaba Group Holding Ltd by 90.91%. The purchase prices were between $173.7 and $205.22, with an estimated average price of $188.29. The stock is now traded at around $178.70. The impact to a portfolio due to this purchase was 0.01%. The holding were 210 shares as of 2018-03-31.

Armbruster Capital Management, Inc. added to a holding in Schwab US Dividend Equity by 23.91%. The purchase prices were between $47.58 and $54.58, with an estimated average price of $51.15. The stock is now traded at around $49.94. The impact to a portfolio due to this purchase was less than 0.01%. The holding were 285 shares as of 2018-03-31.

Armbruster Capital Management, Inc. sold out a holding in PowerShares S&P 500 Pure Value Portfolio. The sale prices were between $62.96 and $71.1, with an estimated average price of $67.26.

Armbruster Capital Management, Inc. sold out a holding in PowerShares S&P Smallcap 600 Pure Value Portfolio. The sale prices were between $68.11 and $76.27, with an estimated average price of $72.14.

Armbruster Capital Management, Inc. sold out a holding in Digimarc Corp. The sale prices were between $23.95 and $39, with an estimated average price of $30.62.

Armbruster Capital Management, Inc. sold out a holding in ICICI Bank Ltd. The sale prices were between $8.55 and $11.22, with an estimated average price of $9.89.

Armbruster Capital Management, Inc. sold out a holding in . The sale prices were between $30.65 and $33.82, with an estimated average price of $32.08.

Armbruster Capital Management, Inc. sold out a holding in PowerShares S&P 500 Equal Weight Portfolio. The sale prices were between $96.79 and $107.43, with an estimated average price of $102.32.