Instuitional Investor - Sippican Capital Advisors

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	Bancorp Inc.	TBBK	156,521	$8,270,570	6.23%
2.	Nvr Inc	NVR	510	$3,694,639	2.78%
3.	Exxon Mobil Corp	XOM	29,265	$3,480,486	2.62%
4.	Bristol Myers Squibb Co	BMY	55,622	$3,392,386	2.56%
5.	General Electric Co	GE	16,315	$3,265,447	2.46%