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
ACADIA REALTY TRUST COM 004239109 2,308 87,500 SH   SOLE   87,500 0 0
ALEXANDRIA REAL ESTATE EQUITIE COM 015271109 2,855 39,350 SH   SOLE   39,350 0 0
AMERICAN CAMPUS COMMUNITIES IN COM 024835100 2,764 74,000 SH   SOLE   74,000 0 0
BRANDYWINE REALTY TRUST SBI COM 105368203 1,984 137,200 SH   SOLE   137,200 0 0
CAMDEN PROPERTY TRUST COM 133131102 2,182 32,400 SH   SOLE   32,400 0 0
CHESAPEAKE LODGING TRUST COM 165240102 1,672 65,000 SH   SOLE   65,000 0 0
CUBE SMART COM 229663109 1,544 90,000 SH   SOLE   90,000 0 0
DDR CORP COM 23317H102 2,081 126,264 SH   SOLE   126,264 0 0
DIGITAL REALTY TRUST INC COM 253868103 7,710 145,261 SH   SOLE   145,261 0 0
EASTGROUP PROPERTIES SBI COM 277276101 3,775 60,000 SH   SOLE   60,000 0 0
EDUCATION REALTY TRUST INC COM 28140H104 1,480 150,000 SH   SOLE   150,000 0 0
EQUITY ONE INC COM 294752100 1,117 50,000 SH   SOLE   50,000 0 0
EQUITY RESIDENTIAL COM 29476L107 2,331 40,200 SH   SOLE   40,200 0 0
ESSEX PROPERTY TRUST INC COM 297178105 1,832 10,775 SH   SOLE   10,775 0 0
FEDERAL REALTY INV. TRUST COM 313747206 2,008 17,500 SH   SOLE   17,500 0 0
FIRST INDUSTRIAL REALTY TRUST COM 32054K103 2,512 130,000 SH   SOLE   130,000 0 0
GENERAL GROWTH PROPERTIES COM 370023103 2,530 115,000 SH   SOLE   115,000 0 0
GLIMCHER REALTY COM 379302102 1,856 185,000 SH   SOLE   185,000 0 0
HCP INC COM 40414l109 979 25,250 SH   SOLE   25,250 0 0
HEALTH CARE REIT INC COM 42217K106 3,192 53,550 SH   SOLE   53,550 0 0
HERSHA HOSPITALITY TRUST COM 427825104 1,312 225,000 SH   SOLE   225,000 0 0
HIGHWOODS PROPERTIES INC COM 431284108 18,211 474,114 SH   SOLE   474,114 0 0
HOME PROPERTIES INC COM 437306103 13,090 217,725 SH   SOLE   217,725 0 0
HOSPITALITY PROPERTIES TRUST COM 44106M102 479 16,675 SH   SOLE   16,675 0 0
HUDSON PACIFIC PROPERTIES INC COM 444097109 1,269 55,000 SH   SOLE   55,000 0 0
KIMCO REALTY CORP COM 49446R109 5,069 231,675 SH   SOLE   231,675 0 0
LASALLE HOTEL PROPERTIES COM 517942108 1,409 45,000 SH   SOLE   45,000 0 0
LIBERTY PROPERTY TRUST COM 531172104 2,456 66,445 SH   SOLE   66,445 0 0
MACERICH CO COM 554382101 2,919 46,832 SH   SOLE   46,832 0 0
MEDICAL PROPERTIES TRUST INC COM 58463j304 18,167 1,420,430 SH   SOLE   1,420,430 0 0
MID-AMERICA APARTMENT COMMUNIT COM 59522J103 354 5,180 SH   SOLE   5,180 0 0
NATIONAL RETAIL PPTYS INC COM 637417106 2,152 62,700 SH   SOLE   62,700 0 0
OMEGA HEALTHCARE INVESTORS COM 681936100 1,676 50,000 SH   SOLE   50,000 0 0
POST PROPERTIES INC COM 737464107 1,473 30,000 SH   SOLE   30,000 0 0
RAYONIER INC COM 754907103 1,148 25,000 SH   SOLE   25,000 0 0
RLJ LODGING TRUST COM 74965L101 3,126 116,900 SH   SOLE   116,900 0 0
RYMAN HOSPITALITY PROPERTIES COM 78377T107 1,573 37,000 SH   SOLE   37,000 0 0
SIMON PROPERTY GROUP INC COM 828806109 13,378 81,571 SH   SOLE   81,571 0 0
SL GREEN REALTY CORP COM 78440X101 22,325 221,875 SH   SOLE   221,875 0 0
SOVRAN SELF STORAGE INC COM 84610H108 1,983 27,000 SH   SOLE   27,000 0 0
SUNSTONE HOTEL INVESTORS INC COM 867892101 1,118 81,414 SH   SOLE   81,414 0 0
TANGER FACTORY OUTLET CENTERS COM 875465106 2,100 60,000 SH   SOLE   60,000 0 0
UDR INC COM 902653104 3,014 116,677 SH   SOLE   116,677 0 0
VENTAS INC COM 92276F100 1,874 30,933 SH   SOLE   30,933 0 0
W P CAREY INC COM 92936U109 4,600 76,580 SH   SOLE   76,580 0 0
3M COMPANY COM 88579Y101 10,245 75,523 SH   SOLE   75,523 0 0
A T & T INC COM 00206R102 4,957 141,350 SH   SOLE   141,350 0 0
AARON'S INC COM 002535300 4,938 163,310 SH   SOLE   163,310 0 0
ABBOTT LABORATORIES COM 002824100 7,082 183,908 SH   SOLE   183,908 0 0
ABBVIE INC COM 00287Y109 10,784 209,804 SH   SOLE   209,804 0 0
ACCENTURE PLC - CL A COM G1151C101 10,011 125,580 SH   SOLE   125,580 0 0
ACTAVIS PLC COM G0083B108 5,428 26,367 SH   SOLE   26,367 0 0
ACTUANT CORP - CL A COM 00508X203 17,802 521,275 SH   SOLE   521,275 0 0
ADT CORP COM 00101J106 231 7,725 SH   SOLE   7,725 0 0
ADVANCED SEMICONDUCTOR ADR COM 00756M404 137 24,654 SH   SOLE   24,654 0 0
AEGION CORP COM 00770F104 548 21,650 SH   SOLE   21,650 0 0
AFFILIATED MANAGERS GROUP INC COM 008252108 32,911 164,516 SH   SOLE   164,516 0 0
AFLAC INC COM 001055102 2,082 33,025 SH   SOLE   33,025 0 0
AGRIUM INC COM 008916108 3,642 37,350 SH   SOLE   37,350 0 0
AIR PRODUCTS & CHEMICALS INC COM 009158106 15,241 128,034 SH   SOLE   128,034 0 0
AIRGAS INC COM 009363102 2,823 26,500 SH   SOLE   26,500 0 0
ALLERGAN INC COM 018490102 620 5,000 SH   SOLE   5,000 0 0
ALLSTATE CORPORATION COM 020002101 2,109 37,275 SH   SOLE   37,275 0 0
ALTRIA GROUP INC COM 02209S103 2,845 76,000 SH   SOLE   76,000 0 0
AMERICAN ELECTRIC POWER CO COM 025537101 370 7,300 SH   SOLE   7,300 0 0
AMERICAN EXPRESS COM 025816109 1,197 13,300 SH   SOLE   13,300 0 0
AMERICAN WATER WORKS CO INC COM 030420103 6,427 141,560 SH   SOLE   141,560 0 0
AMERIPRISE FINANCIAL INC COM 03076C106 9,103 82,702 SH   SOLE   82,702 0 0
AMGEN INC COM 031162100 6,135 49,740 SH   SOLE   49,740 0 0
ANADARKO PETROLEUM CORP COM 032511107 1,187 14,000 SH   SOLE   14,000 0 0
ANIXTER INTERNATIONAL COM 035290105 26,692 262,925 SH   SOLE   262,925 0 0
ANN INC COM 035623107 17,059 411,248 SH   SOLE   411,248 0 0
AON PLC COM G0408V102 229 2,719 SH   SOLE   2,719 0 0
APACHE CORP COM 037411105 964 11,625 SH   SOLE   11,625 0 0
APPLE INC COM 037833100 5,298 9,870 SH   SOLE   9,870 0 0
ARCHER DANIELS MIDLAND COM 039483102 395 9,100 SH   SOLE   9,100 0 0
ATWOOD OCEANICS INC COM 050095108 239 4,750 SH   SOLE   4,750 0 0
AVAGO TECHNOLOGIES LTD COM Y0486S104 1,876 29,125 SH   SOLE   29,125 0 0
AVERY DENNISON CORP COM 053611109 1,064 21,000 SH   SOLE   21,000 0 0
AVISTA CORP COM 05379B107 14,040 458,086 SH   SOLE   458,086 0 0
BANK OF AMERICA CORP COM 060505104 191 11,124 SH   SOLE   11,124 0 0
BAR HARBOR BANKSHARES COM 066849100 268 7,000 SH   SOLE   7,000 0 0
BAXTER INT'L COM 071813109 1,629 22,145 SH   SOLE   22,145 0 0
BEACON ROOFING SUPPLY INC COM 073685109 16,735 432,875 SH   SOLE   432,875 0 0
BECTON DICKINSON & CO COM 075887109 5,777 49,340 SH   SOLE   49,340 0 0
BED BATH AND BEYOND INC COM 075896100 4,263 61,969 SH   SOLE   61,969 0 0
BELDEN CDT INC COM 077454106 32,482 466,700 SH   SOLE   466,700 0 0
BHP BILLITON LTD COM 088606108 529 7,800 SH   SOLE   7,800 0 0
BLACK HILLS CORP COM 092113109 1,747 30,300 SH   SOLE   30,300 0 0
BOARDWALK PIPELINE PARTNERS COM 096627104 187 13,950 SH   SOLE   13,950 0 0
BONANZA CREEK ENERGY INC COM 097793103 14,958 336,890 SH   SOLE   336,890 0 0
BRINKER INTERNATIONAL INC COM 109641100 20,815 396,855 SH   SOLE   396,855 0 0
BRISTOL-MYERS SQUIBB COM 110122108 10,782 207,538 SH   SOLE   207,538 0 0
BUCKEYE PARTNERS L P UNIT LTD COM 118230101 552 7,350 SH   SOLE   7,350 0 0
CABELA'S INC COM 126804301 22,073 336,942 SH   SOLE   336,942 0 0
CABOT OIL & GAS CORP COM 127097103 18,772 554,070 SH   SOLE   554,070 0 0
CACI INTERNATIONAL INC - CL A COM 127190304 14,162 191,900 SH   SOLE   191,900 0 0
CAMPBELL SOUP COM 134429109 3,155 70,300 SH   SOLE   70,300 0 0
CANADIAN NATIONAL RAILWAY CO C COM 136375102 1,563 27,800 SH   SOLE   27,800 0 0
CAPITAL ONE FINANCIAL CORP VA COM 14040H105 4,324 56,040 SH   SOLE   56,040 0 0
CARDTRONICS INC COM 14161H108 16,651 428,605 SH   SOLE   428,605 0 0
CARRIZO OIL & GAS INC COM 144577103 21,700 405,910 SH   SOLE   405,910 0 0
CASEYS GENERAL STORES INC COM 147528103 22,014 325,700 SH   SOLE   325,700 0 0
CATERPILLAR INC COM 149123101 10,826 108,949 SH   SOLE   108,949 0 0
CECO ENVIRONMENTAL CORP COM 125141101 971 58,542 SH   SOLE   58,542 0 0
CELGENE CORP COM COM 151020104 350 2,510 SH   SOLE   2,510 0 0
CENTRAL FUND OF CANADA COM 153501101 378 27,500 SH   SOLE   27,500 0 0
CENTURYLINK INC COM 156700106 1,311 39,923 SH   SOLE   39,923 0 0
CF INDUSTRIES HOLDINGS INC COM 125269100 1,813 6,955 SH   SOLE   6,955 0 0
CHEVRON CORP COM 166764100 8,733 73,440 SH   SOLE   73,440 0 0
CHICAGO BRIDGE AND IRON COMPAN COM 167250109 42,440 486,975 SH   SOLE   486,975 0 0
CHUBB CORP COM 171232101 208 2,330 SH   SOLE   2,330 0 0
CHURCH & DWIGHT INC COM 171340102 9,535 138,050 SH   SOLE   138,050 0 0
CISCO SYSTEMS INC COM 17275R102 814 36,336 SH   SOLE   36,336 0 0
COACH INC COM 189754104 759 15,275 SH   SOLE   15,275 0 0
COAST DISTRIBUTION SERVICES COM 190345108 49 13,000 SH   SOLE   13,000 0 0
COCA-COLA COM 191216100 1,446 37,406 SH   SOLE   37,406 0 0
COLGATE PALMOLIVE CO COM 194162103 413 6,362 SH   SOLE   6,362 0 0
COMMUNITY BANK SYSTEMS INC COM 203607106 15,350 393,385 SH   SOLE   393,385 0 0
COMPASS MINERALS INTERNATIONAL COM 20451n101 9,368 113,525 SH   SOLE   113,525 0 0
CONAGRA FOODS INC COM 205887102 1,686 54,325 SH   SOLE   54,325 0 0
CONOCOPHILLIPS COM 20825C104 11,507 163,573 SH   SOLE   163,573 0 0
CONTINENTAL RESOURCES INC COM 212015101 1,305 10,500 SH   SOLE   10,500 0 0
CORNING INC COM 219350105 356 17,100 SH   SOLE   17,100 0 0
CRANE CO COM 224399105 24,171 339,725 SH   SOLE   339,725 0 0
CSX CORP COM 126408103 4,958 171,157 SH   SOLE   171,157 0 0
CVS CAREMARK CORP COM 126650100 9,696 129,516 SH   SOLE   129,516 0 0
DARDEN RESTAURANTS INC COM 237194105 3,775 74,360 SH   SOLE   74,360 0 0
DEAN FOODS CO COM 242370203 13,951 902,410 SH   SOLE   902,410 0 0
DEERE & CO COM 244199105 6,178 68,045 SH   SOLE   68,045 0 0
DEVON ENERGY CORP COM 25179M103 4,157 62,105 SH   SOLE   62,105 0 0
DIAGEO PLC ADR COM 25243Q205 4,801 38,536 SH   SOLE   38,536 0 0
DIAMOND OFFSHORE DRILLING INC COM 25271C102 490 10,050 SH   SOLE   10,050 0 0
DOMINION RESOURCES INC VA COM 25746U109 3,753 52,865 SH   SOLE   52,865 0 0
DONEGAL GROUP INC CL A COM 257701201 547 37,494 SH   SOLE   37,494 0 0
DOVER CORP COM 260003108 422 5,163 SH   SOLE   5,163 0 0
DOW CHEMICAL CO COM 260543103 10,166 209,223 SH   SOLE   209,223 0 0
DR PEPPER SNAPPLE GROUP INC COM 26138E109 817 15,000 SH   SOLE   15,000 0 0
DU PONT EI DE NEMOURS COM 263534109 4,807 71,633 SH   SOLE   71,633 0 0
DUKE ENERGY CO COM 26441C204 3,511 49,291 SH   SOLE   49,291 0 0
EAST WEST BANCORP INC COM 27579R104 1,679 46,000 SH   SOLE   46,000 0 0
EATON CORP PLC COM G29183103 15,740 209,528 SH   SOLE   209,528 0 0
EL PASO ELECTRIC CO COM 283677854 13,864 388,031 SH   SOLE   388,031 0 0
ELI LILLY CO COM 532457108 6,382 108,424 SH   SOLE   108,424 0 0
EMC CORP COM 268648102 293 10,700 SH   SOLE   10,700 0 0
EMERSON ELECTRIC COM 291011104 8,129 121,698 SH   SOLE   121,698 0 0
ENERGIZER HOLDINGS INC COM 29266R108 1,209 12,000 SH   SOLE   12,000 0 0
ENERSYS COM 29275Y102 36,154 521,775 SH   SOLE   521,775 0 0
ENSCO PLC - CL A COM G3157S106 7,900 149,677 SH   SOLE   149,677 0 0
ENTERPRISE PRODUCTS PARTNERS COM 293792107 208 3,000 SH   SOLE   3,000 0 0
EXPRESS SCRIPTS HOLDING CO COM 30219G108 4,581 61,003 SH   SOLE   61,003 0 0
EXXON MOBIL CORPORATION COM 30231G102 12,370 126,635 SH   SOLE   126,635 0 0
FAMILY DOLLAR STORES COM 307000109 3,608 62,200 SH   SOLE   62,200 0 0
FEDEX CORPORATION COM 31428X106 3,556 26,829 SH   SOLE   26,829 0 0
FIRST MIDWEST BANCORP INC COM 320867104 4,650 272,275 SH   SOLE   272,275 0 0
FIRST REPUBLIC BANK/CA COM 33616C100 1,512 28,000 SH   SOLE   28,000 0 0
FISERV INC COM 337738108 2,372 41,842 SH   SOLE   41,842 0 0
FORD MOTOR COMPANY COM 345370860 7,074 453,476 SH   SOLE   453,476 0 0
FREEPORT-MCMORAN COPPER & GOLD COM 35671D857 8,137 246,054 SH   SOLE   246,054 0 0
GENERAC HOLDINGS INC COM 368736104 24,935 422,835 SH   SOLE   422,835 0 0
GENERAL DYNAMICS CORP COM 369550108 449 4,125 SH   SOLE   4,125 0 0
GENERAL ELECTRIC COM 369604103 15,283 590,286 SH   SOLE   590,286 0 0
GENERAL MILLS INC COM 370334104 660 12,740 SH   SOLE   12,740 0 0
GENUINE PARTS CO COM 372460105 3,384 38,960 SH   SOLE   38,960 0 0
GLACIER BANCORP INC COM 37637q105 11,097 381,750 SH   SOLE   381,750 0 0
GLAXOSMITHKLINE PLC ADR COM 37733W105 857 16,035 SH   SOLE   16,035 0 0
GRAINGER W W INC COM 384802104 202 800 SH   SOLE   800 0 0
H&R BLOCK INC COM 093671105 349 11,550 SH   SOLE   11,550 0 0
HALLIBURTON CO COM 406216101 6,001 101,910 SH   SOLE   101,910 0 0
HARRIS CORP COM 413875105 3,609 49,325 SH   SOLE   49,325 0 0
HARTFORD FINANCIAL SERVICES GR COM 416515104 409 11,601 SH   SOLE   11,601 0 0
HELMERICH & PAYNE INC COM 423452101 215 2,000 SH   SOLE   2,000 0 0
HERSHEY FOODS COM 427866108 282 2,700 SH   SOLE   2,700 0 0
HERTZ GLOBAL HOLDINGS COM 42805T105 5,878 220,628 SH   SOLE   220,628 0 0
HESS CORP COM 42809H107 777 9,375 SH   SOLE   9,375 0 0
HOME DEPOT INC COM 437076102 1,879 23,750 SH   SOLE   23,750 0 0
HONEYWELL INTL INC COM 438516106 9,418 101,531 SH   SOLE   101,531 0 0
HORMEL FOODS CORP COM 440452100 813 16,500 SH   SOLE   16,500 0 0
IBERIABANK CORP COM 450828108 15,903 226,705 SH   SOLE   226,705 0 0
ILLINOIS TOOL WORKS COM 452308109 1,982 24,368 SH   SOLE   24,368 0 0
INGERSOLL-RAND PLC COM G47791101 220 3,850 SH   SOLE   3,850 0 0
INT'L BUSINESS MACHINES CORP COM 459200101 15,323 79,602 SH   SOLE   79,602 0 0
INTEL CORP COM 458140100 3,948 152,934 SH   SOLE   152,934 0 0
INTERCONTINENTAL EXCHANGE GROU COM 45866F104 222 1,123 SH   SOLE   1,123 0 0
J.M. SMUCKER COM COM 832696405 1,105 11,359 SH   SOLE   11,359 0 0
JARDEN CORPORATION COM 471109108 29,755 497,327 SH   SOLE   497,327 0 0
JOHNSON & JOHNSON COM 478160104 12,521 127,462 SH   SOLE   127,462 0 0
JPMORGAN CHASE & CO. COM 46625H100 9,150 150,723 SH   SOLE   150,723 0 0
KAYNE ANDERSON ENERGY DEVELOPM COM 48660Q102 263 8,500 SH   SOLE   8,500 0 0
KAYNE ANDERSON MLP INVT CO COM 486606106 5,911 161,025 SH   SOLE   161,025 0 0
KELLOGG CO COM 487836108 398 6,344 SH   SOLE   6,344 0 0
KEY CORP COM 493267108 1,467 103,000 SH   SOLE   103,000 0 0
KIMBERLY-CLARK CORP COM 494368103 13,738 124,609 SH   SOLE   124,609 0 0
KINDER MORGAN ENERGY PRTNRS COM 494550106 495 6,700 SH   SOLE   6,700 0 0
KODIAK OIL & GAS CORP COM 50015Q100 14,163 1,166,640 SH   SOLE   1,166,640 0 0
KOHLS CORP WISC PV COM 500255104 1,551 27,300 SH   SOLE   27,300 0 0
KRAFT FOODS GROUP INC COM 50076Q106 898 16,011 SH   SOLE   16,011 0 0
L-3 COMMUNICATIONS HLDGS INC COM 502424104 2,224 18,825 SH   SOLE   18,825 0 0
LABORATORY CORPORATION OF AMER COM 50540R409 378 3,850 SH   SOLE   3,850 0 0
LOCKHEED MARTIN CORP COM 539830109 1,192 7,300 SH   SOLE   7,300 0 0
LORILLARD INC COM 544147101 210 3,875 SH   SOLE   3,875 0 0
LOWES COMPANIES INC COM 548661107 345 7,050 SH   SOLE   7,050 0 0
LYONDELL BASELL INDUSTRIES - C COM N53745100 5,345 60,095 SH   SOLE   60,095 0 0
MACY'S INC COM 55616P104 5,653 95,353 SH   SOLE   95,353 0 0
MAGELLAN MIDSTREAM PARTNERS LL COM 559080106 404 5,800 SH   SOLE   5,800 0 0
MARATHON OIL CORP COM 565849106 1,270 35,750 SH   SOLE   35,750 0 0
MARATHON PETROLEUM CORP COM 56585A102 756 8,690 SH   SOLE   8,690 0 0
MARRIOTT INTERNATIONAL INC CL COM 571903202 2,241 40,000 SH   SOLE   40,000 0 0
MASTEC INCORPORATED COM 576323109 39,243 903,380 SH   SOLE   903,380 0 0
MB FINANCIAL INC COM 55264u108 13,267 428,525 SH   SOLE   428,525 0 0
MERCK & CO INC/NJ COM 58933Y105 6,103 107,499 SH   SOLE   107,499 0 0
MEREDITH CORP COM 589433101 819 17,650 SH   SOLE   17,650 0 0
METLIFE INC COM 59156R108 6,952 131,669 SH   SOLE   131,669 0 0
MICROSOFT CORP COM 594918104 13,635 332,630 SH   SOLE   332,630 0 0
MITSUBISHI UFJ FINANCIAL GROUP COM 606822104 55 10,000 SH   SOLE   10,000 0 0
MONDELEZ INTERNATIONAL INC COM 609207105 1,611 46,640 SH   SOLE   46,640 0 0
MOOG INC COM 615394202 25,058 382,500 SH   SOLE   382,500 0 0
MURPHY OIL CORP COM 626717102 721 11,475 SH   SOLE   11,475 0 0
MYLAN INC COM 628530107 6,473 132,553 SH   SOLE   132,553 0 0
McCORMICK & CO INC NON VTG COM 579780206 2,260 31,500 SH   SOLE   31,500 0 0
McDONALDS CORP COM 580135101 9,491 96,816 SH   SOLE   96,816 0 0
NATIONAL OILWELL VARCO INC COM 637071101 1,127 14,470 SH   SOLE   14,470 0 0
NETAPP INC COM 64110D104 3,113 84,367 SH   SOLE   84,367 0 0
NETSCOUT SYSTEMS INC COM 64115T104 18,881 502,425 SH   SOLE   502,425 0 0
NEW JERSEY RESOURCES COM 646025106 1,905 38,250 SH   SOLE   38,250 0 0
NEWMONT MINING CORP COM 651639106 691 29,500 SH   SOLE   29,500 0 0
NEXTERA ENERGY INC COM 65339F101 4,969 51,963 SH   SOLE   51,963 0 0
NOBLE CORP PLC COM G65431101 1,812 55,330 SH   SOLE   55,330 0 0
NORFOLK SOUTHERN CORP COM 655844108 6,559 67,500 SH   SOLE   67,500 0 0
NORTHWEST BANCSHARES INC COM 667340103 13,540 927,426 SH   SOLE   927,426 0 0
NOVARTIS AG COM 66987v109 363 4,275 SH   SOLE   4,275 0 0
NOVO-NORDISK ADR COM 670100205 11,880 260,250 SH   SOLE   260,250 0 0
NUANCE COMMUNICATIONS INC COM 67020Y100 871 50,750 SH   SOLE   50,750 0 0
OCCIDENTAL PETROLEUM CORP COM 674599105 8,891 93,310 SH   SOLE   93,310 0 0
OMNICOM GROUP INC COM 681919106 211 2,900 SH   SOLE   2,900 0 0
ON SEMICONDUCTOR CORPORATION COM 682189105 14,079 1,497,805 SH   SOLE   1,497,805 0 0
ORACLE CORPORATION COM 68389X105 7,794 190,514 SH   SOLE   190,514 0 0
ORIX CORPORATION COM 686330101 211 3,000 SH   SOLE   3,000 0 0
OSHKOSH TRUCK CORP COM 688239201 21,414 363,750 SH   SOLE   363,750 0 0
PAREXEL INTERNATIONAL COM 699462107 30,974 572,630 SH   SOLE   572,630 0 0
PARKER-HANNIFIN COM 701094104 3,645 30,445 SH   SOLE   30,445 0 0
PAYCHEX INC COM 704326107 824 19,350 SH   SOLE   19,350 0 0
PENTAIR INC COM H6169Q108 2,989 37,670 SH   SOLE   37,670 0 0
PEPSICO INC COM 713448108 6,414 76,814 SH   SOLE   76,814 0 0
PERKINELMER INC COM 714046109 1,307 29,000 SH   SOLE   29,000 0 0
PFIZER INC COM 717081103 4,107 127,863 SH   SOLE   127,863 0 0
PHILIP MORRIS INTERNATIONAL IN COM 718172109 2,786 34,035 SH   SOLE   34,035 0 0
PHILLIPS 66 COM 718546104 10,703 138,889 SH   SOLE   138,889 0 0
PIEDMONT NATURAL GAS COM 720186105 4,306 121,686 SH   SOLE   121,686 0 0
PNC FINANCIAL SERVICES GROUP COM 693475105 8,280 95,175 SH   SOLE   95,175 0 0
POLYONE CORP COM 73179P106 32,075 874,940 SH   SOLE   874,940 0 0
PORTLAND GENERAL ELECTRIC CO COM 736508847 11,807 365,075 SH   SOLE   365,075 0 0
PPG INDUSTRIES INC COM 693506107 9,866 51,000 SH   SOLE   51,000 0 0
PPL CORP COM 69351T106 1,623 48,974 SH   SOLE   48,974 0 0
PRAXAIR INC COM 74005P104 1,048 8,005 SH   SOLE   8,005 0 0
PROCTER & GAMBLE COM 742718109 5,262 65,287 SH   SOLE   65,287 0 0
PRUDENTIAL FINANCIAL COM 744320102 8,463 99,973 SH   SOLE   99,973 0 0
PTC INC COM 69370C100 27,031 763,155 SH   SOLE   763,155 0 0
PUBLIC SERVICE ENTERPRISE INC COM 744573106 652 17,100 SH   SOLE   17,100 0 0
QUAKER CHEMICAL COM 747316107 552 7,000 SH   SOLE   7,000 0 0
QUALCOMM INC COM 747525103 6,182 78,398 SH   SOLE   78,398 0 0
QUEST DIAGNOSTICS COM 74834L100 576 9,948 SH   SOLE   9,948 0 0
RAYTHEON COM 755111507 3,599 36,426 SH   SOLE   36,426 0 0
RF MICRO DEVICES COM 749941100 14,232 1,806,110 SH   SOLE   1,806,110 0 0
RGC RESOURCES COM 74955l103 667 35,116 SH   SOLE   35,116 0 0
ROYAL CARIBBEAN CRUISES LTD COM V7780T103 4,867 89,202 SH   SOLE   89,202 0 0
ROYAL DUTCH SHELL PLC COM 780259206 941 12,885 SH   SOLE   12,885 0 0
RPM INC COM 749685103 7,862 187,916 SH   SOLE   187,916 0 0
SCHLUMBERGER LTD COM 806857108 3,511 36,014 SH   SOLE   36,014 0 0
SEADRILL LTD COM G7945E105 766 21,800 SH   SOLE   21,800 0 0
SELECTIVE INSURANCE COM 816300107 11,834 507,475 SH   SOLE   507,475 0 0
SIEMENS AG COM 826197501 207 1,535 SH   SOLE   1,535 0 0
SIGNATURE BANK COM 82669g104 29,646 236,050 SH   SOLE   236,050 0 0
SILGAN HOLDINGS INC COM 827048109 20,795 419,925 SH   SOLE   419,925 0 0
SKYWORKS SOLUTIONS INC COM 83088M102 5,361 142,891 SH   SOLE   142,891 0 0
SOLERA HOLDINGS INC COM 83421A104 17,179 271,225 SH   SOLE   271,225 0 0
SOUTHERN CO COM 842587107 233 5,300 SH   SOLE   5,300 0 0
SOUTHWEST GAS CORP COM 844895102 16,106 301,335 SH   SOLE   301,335 0 0
SPECTRA ENERGY CORP COM 847560109 203 5,500 SH   SOLE   5,500 0 0
STANLEY BLACK DECKER INC COM 854502101 5,122 63,048 SH   SOLE   63,048 0 0
SUPERIOR ENERGY SERVICES COM 868157108 12,779 415,458 SH   SOLE   415,458 0 0
SVB FINANCIAL GROUP COM 78486q101 32,330 251,050 SH   SOLE   251,050 0 0
SYSCO CORP COM 871829107 2,605 72,100 SH   SOLE   72,100 0 0
TARGET CORP COM 87612E106 1,684 27,830 SH   SOLE   27,830 0 0
TELEFLEX INC COM 879369106 236 2,200 SH   SOLE   2,200 0 0
TEVA PHARMACTCL INDS ADR COM 881624209 396 7,500 SH   SOLE   7,500 0 0
THE MOSAIC CO COM 61945C103 2,155 43,100 SH   SOLE   43,100 0 0
THE TRAVELERS COMPANIES INC COM 89417e109 5,695 66,922 SH   SOLE   66,922 0 0
THERMO FISHER SCIENTIFIC INC COM 883556102 6,125 50,940 SH   SOLE   50,940 0 0
TORCHMARK CORP COM 891027104 3,524 44,775 SH   SOLE   44,775 0 0
TORONTO-DOMINION BANK COM 891160509 1,193 25,406 SH   SOLE   25,406 0 0
TORTOISE ENERGY INFRASTRUCTURE COM 89147L100 465 10,150 SH   SOLE   10,150 0 0
TOTAL SA SPON ADR COM 89151E109 6,581 100,314 SH   SOLE   100,314 0 0
TRACTOR SUPPLY CO COM 892356106 1,829 25,900 SH   SOLE   25,900 0 0
TRANSOCEAN LTD COM H8817H100 390 9,439 SH   SOLE   9,439 0 0
TRINITY INDUSTRIES COM 896522109 28,944 401,615 SH   SOLE   401,615 0 0
TYCO INTERNATIONAL LTD COM H89128104 4,306 101,566 SH   SOLE   101,566 0 0
U.S. BANCORP COM 902973304 4,065 94,855 SH   SOLE   94,855 0 0
UGI CORP COM 902681105 4,335 95,050 SH   SOLE   95,050 0 0
UMPQUA HOLDINGS CORP COM 904214103 13,363 716,896 SH   SOLE   716,896 0 0
UNION PACIFIC CORP COM 907818108 6,812 36,299 SH   SOLE   36,299 0 0
UNITED BANKSHARES COM 909907107 10,796 352,575 SH   SOLE   352,575 0 0
UNITED PARCEL SERVICE INC COM 911312106 18,714 192,170 SH   SOLE   192,170 0 0
UNITED RENTALS COM 911363109 47,092 496,014 SH   SOLE   496,014 0 0
UNITED TECHNOLOGIES CORP COM 913017109 10,247 87,701 SH   SOLE   87,701 0 0
UNS ENERGY CORP COM 903119105 13,588 226,350 SH   SOLE   226,350 0 0
V F CORP COM 918204108 12,299 198,757 SH   SOLE   198,757 0 0
VALEANT PHARMACEUTICALS INTL COM 91911K102 316 2,400 SH   SOLE   2,400 0 0
VALERO ENERGY CORP COM 91913Y100 457 8,610 SH   SOLE   8,610 0 0
VALLEY NATL BANCORP COM COM 919794107 312 30,000 SH   SOLE   30,000 0 0
VERIZON COMMUNICATIONS COM 92343V104 13,360 280,856 SH   SOLE   280,856 0 0
WAL-MART STORES COM 931142103 245 3,200 SH   SOLE   3,200 0 0
WALT DISNEY COMPANY COM 254687106 1,990 24,851 SH   SOLE   24,851 0 0
WASHINGTON TRUST BANCORP INC COM 940610108 243 6,480 SH   SOLE   6,480 0 0
WASTE MANAGEMENT INC COM 94106L109 9,839 233,861 SH   SOLE   233,861 0 0
WD-40 CO COM 929236107 4,740 61,100 SH   SOLE   61,100 0 0
WEATHERFORD INTERNATIONAL COM H27013103 469 27,000 SH   SOLE   27,000 0 0
WEBSTER FINANCIAL CORP COM 947890109 12,814 412,555 SH   SOLE   412,555 0 0
WELLS FARGO & CO COM 949746101 4,988 100,275 SH   SOLE   100,275 0 0
WESCO INTERNATIONAL INC COM 95082P105 999 12,000 SH   SOLE   12,000 0 0
WEST PHARMACEUTICAL SERVICES COM 955306105 27,972 635,000 SH   SOLE   635,000 0 0
WESTLAKE CHEMICAL CORP COM 960413102 1,542 23,300 SH   SOLE   23,300 0 0
WGL HOLDINGS COM 92924F106 793 19,800 SH   SOLE   19,800 0 0
WHIRLPOOL CORP COM 963320106 729 4,875 SH   SOLE   4,875 0 0
WHITING PETROLEUM CORP COM 966387102 3,791 54,630 SH   SOLE   54,630 0 0
WINTRUST FINANCIAL CORP COM 97650W108 15,743 323,525 SH   SOLE   323,525 0 0
XCEL ENERGY INC COM 98389B100 288 9,500 SH   SOLE   9,500 0 0
ZIMMER HOLDINGS INC COM 98956P102 5,114 54,069 SH   SOLE   54,069 0 0
VANGUARD LARGE-CAP ETF COM 922908637 1,680 19,535 SH   SOLE   19,535 0 0
VANGUARD TOTAL STOCK MKT VIPER COM 922908769 507 5,200 SH   SOLE   5,200 0 0
ISHARES CHINA LARGE CAP ETF COM 464287184 1,807 50,500 SH   SOLE   50,500 0 0
ISHARES MSCI EAFE ETF COM 464287465 800 11,910 SH   SOLE   11,910 0 0
ISHARES MSCI EMERGING MKTS FD COM 464287234 4,272 104,179 SH   SOLE   104,179 0 0
ISHARES MSCI JAPAN INDEX FD COM 464286848 280 24,745 SH   SOLE   24,745 0 0
ISHARES MSCI PACIFIC EX JAPAN COM 464286665 5,884 122,350 SH   SOLE   122,350 0 0
VANGUARD FTSE EMERGING MARKETS COM 922042858 4,434 109,269 SH   SOLE   109,269 0 0
VANGUARD TOTAL INTL STOCK ETF COM 921909768 324 6,200 SH   SOLE   6,200 0 0
DNP SELECT INCOME FUND INC COM 23325P104 337 34,400 SH   SOLE   4,400 0 0