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
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
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
AT&T INC COM 00206R102 1,188 27,951 SH   SOLE   27,951 0 0
ALTRIA GROUP INC COM 02209S103 1,760 26,023 SH   SOLE   26,023 0 0
AMERISERV FINL INC COM 03074A102 1,634 441,571 SH   SOLE   14,199 0 427,372
ANNALY CAP MGMT INC COM 035710409 511 51,230 SH   SOLE   51,230 0 0
APPLE INC COM 037833100 1,588 13,707 SH   SOLE   13,707 0 0
BP PLC SPONSORED ADR 055622104 1,008 26,968 SH   SOLE   26,968 0 0
BLACKROCK TAX MUNICPAL BD TR SHS 09248X100 34,003 1,574,225 SH   SOLE   1,574,225 0 0
BLACKROCK TAX MUNICPAL BD TR SHS 09248X100 1,125 52,095 SH   OTR   51,265 830 0
BLACKROCK MUNIHLDNGS QLTY II COM 09254C107 241 17,912 SH   SOLE   17,912 0 0
BLACKROCK MUNIYIELD PA QLTY COM 09255G107 243 17,218 SH   SOLE   17,218 0 0
BRISTOL MYERS SQUIBB CO COM 110122108 883 15,142 SH   SOLE   15,142 0 0
COCA COLA CO COM 191216100 542 13,083 SH   SOLE   13,083 0 0
EXELON CORP COM 30161N101 431 12,140 SH   SOLE   12,140 0 0
FNB CORP PA COM 302520101 676 42,200 SH   SOLE   42,200 0 0
FORD MTR CO DEL COM PAR $0.01 345370860 912 75,175 SH   SOLE   75,175 0 0
FREEPORT-MCMORAN INC CL B 35671D857 436 33,074 SH   SOLE   33,074 0 0
GENERAL ELECTRIC CO COM 369604103 567 18,004 SH   SOLE   18,004 0 0
GENERAL MLS INC COM 370334104 774 12,524 SH   SOLE   12,524 0 0
HUNTINGTON BANCSHARES INC COM 446150104 227 17,154 SH   SOLE   17,154 0 0
ISHARES MSCI BRZ CAP ETF 464286400 1,248 37,439 SH   SOLE   37,439 0 0
ISHARES TR 1-3 YR TR BD ETF 464287457 2,941 34,831 SH   SOLE   34,604 0 227
ISHARES TR CORE S&P SCP ETF 464287804 4,234 30,953 SH   SOLE   30,953 0 0
JOHNSON & JOHNSON COM 478160104 1,974 17,197 SH   SOLE   17,197 0 0
LIVE OAK BANCSHARES INC COM 53803X105 2,041 110,344 SH   SOLE   110,344 0 0
MICROSOFT CORP COM 594918104 732 11,749 SH   SOLE   11,749 0 0
NIKE INC CL B 654106103 1,083 21,298 SH   SOLE   21,173 0 125
PFIZER INC COM 717081103 551 16,966 SH   SOLE   16,966 0 0
PROSHARES TR PSHS ULT S&P 500 74347R107 5,125 67,307 SH   SOLE   67,290 0 17
SPDR SERIES TRUST BLOOMBERG BRCLYS 78464A417 427 11,720 SH   SOLE   11,720 0 0
SPDR S&P MIDCAP 400 ETF TR UTSER1 S&PDCRP 78467Y107 4,382 14,522 SH   SOLE   14,522 0 0
TRINITY INDS INC COM 896522109 1,070 38,541 SH   SOLE   38,541 0 0
VANGUARD INDEX FDS S&P 500 ETF SHS 922908363 9,623 46,864 SH   SOLE   46,832 27 5
VERIZON COMMUNICATIONS INC COM 92343V104 1,431 26,864 SH   SOLE   26,864 0 0