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 2,944 91,900 SH   SOLE   91,900 0 0
ALEXANDRIA REAL ESTATE EQUITIE COM 015271109 3,421 38,550 SH   SOLE   38,550 0 0
AMERICAN CAMPUS COMMUNITIES IN COM 024835100 21,716 525,050 SH   SOLE   525,050 0 0
BRANDYWINE REALTY TRUST SBI COM 105368203 195 12,200 SH   SOLE   12,200 0 0
CAMDEN PROPERTY TRUST COM 133131102 1,853 25,100 SH   SOLE   25,100 0 0
CAMPUS CREST COMMUNITIES INC COM 13466Y105 768 105,000 SH   SOLE   105,000 0 0
CHESAPEAKE LODGING TRUST COM 165240102 2,419 65,000 SH   SOLE   65,000 0 0
CROWN CASTLE INTERNATIONAL COR COM 22822V101 2,361 30,000 SH   SOLE   30,000 0 0
CUBE SMART COM 229663109 1,986 90,000 SH   SOLE   90,000 0 0
DDR CORP COM 23317H102 3,798 206,864 SH   SOLE   206,864 0 0
DIGITAL REALTY TRUST INC COM 253868103 5,948 89,711 SH   SOLE   89,711 0 0
EASTGROUP PROPERTIES SBI COM 277276101 3,654 57,700 SH   SOLE   57,700 0 0
EQUITY RESIDENTIAL COM 29476L107 2,888 40,200 SH   SOLE   40,200 0 0
ESSEX PROPERTY TRUST INC COM 297178105 2,846 13,775 SH   SOLE   13,775 0 0
FEDERAL REALTY INV. TRUST COM 313747206 2,336 17,500 SH   SOLE   17,500 0 0
FIRST INDUSTRIAL REALTY TRUST COM 32054K103 1,645 80,000 SH   SOLE   80,000 0 0
GENERAL GROWTH PROPERTIES COM 370023103 3,235 115,000 SH   SOLE   115,000 0 0
GLIMCHER REALTY TRUST COM 379302102 24,615 1,791,500 SH   SOLE   1,791,500 0 0
HCP INC COM 40414l109 1,134 25,750 SH   SOLE   25,750 0 0
HEALTH CARE REIT INC COM 42217K106 4,188 55,350 SH   SOLE   55,350 0 0
HEALTHCARE TRUST OF AMERICA COM 42225P501 1,414 52,500 SH   SOLE   52,500 0 0
HERSHA HOSPITALITY TRUST COM 427825104 1,582 225,000 SH   SOLE   225,000 0 0
HIGHWOODS PROPERTIES INC COM 431284108 23,797 537,414 SH   SOLE   537,414 0 0
HOME PROPERTIES INC COM 437306103 16,762 255,525 SH   SOLE   255,525 0 0
HOSPITALITY PROPERTIES TRUST COM 44106M102 546 17,625 SH   SOLE   17,625 0 0
HUDSON PACIFIC PROPERTIES INC COM 444097109 1,653 55,000 SH   SOLE   55,000 0 0
KIMCO REALTY CORP COM 49446R109 4,274 170,025 SH   SOLE   170,025 0 0
LASALLE HOTEL PROPERTIES COM 517942108 1,878 46,400 SH   SOLE   46,400 0 0
LIBERTY PROPERTY TRUST COM 531172104 2,428 64,520 SH   SOLE   64,520 0 0
MACERICH CO COM 554382101 5,683 68,132 SH   SOLE   68,132 0 0
MEDICAL PROPERTIES TRUST INC COM 58463j304 22,181 1,609,680 SH   SOLE   1,609,680 0 0
MID-AMERICA APARTMENT COMMUNIT COM 59522J103 260 3,480 SH   SOLE   3,480 0 0
NATIONAL RETAIL PPTYS INC COM 637417106 2,468 62,700 SH   SOLE   62,700 0 0
OMEGA HEALTHCARE INVESTORS COM 681936100 1,953 50,000 SH   SOLE   50,000 0 0
RLJ LODGING TRUST COM 74965L101 4,191 125,000 SH   SOLE   125,000 0 0
RYMAN HOSPITALITY PROPERTIES COM 78377T107 23,761 450,540 SH   SOLE   450,540 0 0
SIMON PROPERTY GROUP INC COM 828806109 15,348 84,277 SH   SOLE   84,277 0 0
SL GREEN REALTY CORP COM 78440X101 25,920 217,775 SH   SOLE   217,775 0 0
SOVRAN SELF STORAGE INC COM 84610H108 2,355 27,000 SH   SOLE   27,000 0 0
TANGER FACTORY OUTLET CENTERS COM 875465106 1,663 45,000 SH   SOLE   45,000 0 0
TRADE STREET RESIDENTIAL INC COM 89255N203 961 125,000 SH   SOLE   125,000 0 0
UDR INC COM 902653104 3,596 116,677 SH   SOLE   116,677 0 0
VENTAS INC COM 92276F100 2,265 31,583 SH   SOLE   31,583 0 0
VORNADO REALTY TRUST COM 929042109 1,177 10,000 SH   SOLE   10,000 0 0
W P CAREY INC COM 92936U109 6,485 92,513 SH   SOLE   92,513 0 0
WEYERHAEUSER CO COM 962166104 7,929 220,920 SH   SOLE   220,920 0 0
3M COMPANY COM 88579Y101 12,145 73,908 SH   SOLE   73,908 0 0
A T & T INC COM 00206R102 4,490 133,662 SH   SOLE   133,662 0 0
ABBOTT LABORATORIES COM 002824100 8,634 191,790 SH   SOLE   191,790 0 0
ABBVIE INC COM 00287Y109 13,974 213,536 SH   SOLE   213,536 0 0
ACCENTURE PLC - CL A COM G1151C101 10,975 122,882 SH   SOLE   122,882 0 0
ACTAVIS PLC COM G0083B108 6,415 24,920 SH   SOLE   24,920 0 0
ACTIVISION BLIZZARD INC COM 00507V109 1,777 88,200 SH   SOLE   88,200 0 0
ACTUANT CORP - CL A COM 00508X203 14,081 516,925 SH   SOLE   516,925 0 0
AEGION CORP COM 00770F104 403 21,650 SH   SOLE   21,650 0 0
AFFILIATED MANAGERS GROUP INC COM 008252108 32,632 153,750 SH   SOLE   153,750 0 0
AFLAC INC COM 001055102 1,477 24,175 SH   SOLE   24,175 0 0
AGRIUM INC COM 008916108 2,655 28,025 SH   SOLE   28,025 0 0
AIR PRODUCTS & CHEMICALS INC COM 009158106 16,419 113,839 SH   SOLE   113,839 0 0
AIRGAS INC COM 009363102 3,127 27,150 SH   SOLE   27,150 0 0
ALLERGAN INC COM 018490102 861 4,050 SH   SOLE   4,050 0 0
ALLSTATE CORPORATION COM 020002101 2,155 30,675 SH   SOLE   30,675 0 0
ALTRIA GROUP INC COM 02209S103 3,591 72,888 SH   SOLE   72,888 0 0
AMERICAN AIRLINES GROUP INC COM 02376R102 5,717 106,610 SH   SOLE   106,610 0 0
AMERICAN ELECTRIC POWER CO COM 025537101 443 7,300 SH   SOLE   7,300 0 0
AMERICAN EXPRESS COM 025816109 1,303 14,000 SH   SOLE   14,000 0 0
AMERICAN FINANCIAL GROUP INC COM 025932104 1,664 27,400 SH   SOLE   27,400 0 0
AMERICAN WATER WORKS CO INC COM 030420103 7,493 140,585 SH   SOLE   140,585 0 0
AMERIGAS PARTNERS LP COM 030975106 496 10,350 SH   SOLE   10,350 0 0
AMERIPRISE FINANCIAL INC COM 03076C106 10,112 76,459 SH   SOLE   76,459 0 0
AMGEN INC COM 031162100 8,355 52,449 SH   SOLE   52,449 0 0
ANADARKO PETROLEUM CORP COM 032511107 858 10,400 SH   SOLE   10,400 0 0
ANIXTER INTERNATIONAL COM 035290105 25,806 291,725 SH   SOLE   291,725 0 0
ANN INC COM 035623107 16,018 439,098 SH   SOLE   439,098 0 0
AON PLC COM G0408V102 239 2,519 SH   SOLE   2,519 0 0
APPLE INC COM 037833100 7,284 65,987 SH   SOLE   65,987 0 0
ARCHER DANIELS MIDLAND COM 039483102 473 9,100 SH   SOLE   9,100 0 0
ARROW ELECTRONICS INC COM 042735100 1,181 20,400 SH   SOLE   20,400 0 0
AVAGO TECHNOLOGIES LTD COM Y0486S104 2,922 29,050 SH   SOLE   29,050 0 0
AVERY DENNISON CORP COM 053611109 1,484 28,600 SH   SOLE   28,600 0 0
AVISTA CORP COM 05379B107 18,845 533,086 SH   SOLE   533,086 0 0
BANK OF AMERICA CORP COM 060505104 319 17,824 SH   SOLE   17,824 0 0
BAR HARBOR BANKSHARES COM 066849100 336 10,500 SH   SOLE   10,500 0 0
BAXTER INT'L COM 071813109 1,826 24,921 SH   SOLE   24,921 0 0
BECTON DICKINSON & CO COM 075887109 7,150 51,378 SH   SOLE   51,378 0 0
BED BATH AND BEYOND INC COM 075896100 419 5,500 SH   SOLE   5,500 0 0
BELDEN INC COM 077454106 36,764 466,485 SH   SOLE   466,485 0 0
BLACK HILLS CORP COM 092113109 1,525 28,750 SH   SOLE   28,750 0 0
BLOOMIN' BRANDS INC COM 094235108 17,763 717,400 SH   SOLE   717,400 0 0
BOEING CO COM 097023105 205 1,575 SH   SOLE   1,575 0 0
BONANZA CREEK ENERGY INC COM 097793103 222 9,250 SH   SOLE   9,250 0 0
BRINKER INTERNATIONAL INC COM 109641100 26,326 448,555 SH   SOLE   448,555 0 0
BRISTOL-MYERS SQUIBB COM 110122108 10,804 183,018 SH   SOLE   183,018 0 0
BUCKEYE PARTNERS L P UNIT LTD COM 118230101 556 7,350 SH   SOLE   7,350 0 0
CABELA'S INC COM 126804301 18,801 356,692 SH   SOLE   356,692 0 0
CABOT OIL & GAS CORP COM 127097103 14,083 475,605 SH   SOLE   475,605 0 0
CACI INTERNATIONAL INC - CL A COM 127190304 19,408 225,200 SH   SOLE   225,200 0 0
CAMPBELL SOUP COM 134429109 3,093 70,300 SH   SOLE   70,300 0 0
CANADIAN NATIONAL RAILWAY CO C COM 136375102 1,778 25,800 SH   SOLE   25,800 0 0
CAPITAL ONE FINANCIAL CORP VA COM 14040H105 4,425 53,609 SH   SOLE   53,609 0 0
CARDTRONICS INC COM 14161H108 18,596 482,005 SH   SOLE   482,005 0 0
CARRIZO OIL & GAS INC COM 144577103 11,570 278,130 SH   SOLE   278,130 0 0
CASEYS GENERAL STORES INC COM 147528103 33,265 368,300 SH   SOLE   368,300 0 0
CATERPILLAR INC COM 149123101 6,477 70,761 SH   SOLE   70,761 0 0
CDW CORP OF DELAWARE COM 12514g108 2,883 81,980 SH   SOLE   81,980 0 0
CECO ENVIRONMENTAL CORP COM 125141101 456 29,317 SH   SOLE   29,317 0 0
CELGENE CORP COM COM 151020104 562 5,020 SH   SOLE   5,020 0 0
CENTRAL FUND OF CANADA COM 153501101 318 27,500 SH   SOLE   27,500 0 0
CENTURYLINK INC COM 156700106 1,395 35,257 SH   SOLE   35,257 0 0
CF INDUSTRIES HOLDINGS INC COM 125269100 5,869 21,535 SH   SOLE   21,535 0 0
CHEVRON CORP COM 166764100 8,091 72,127 SH   SOLE   72,127 0 0
CHICAGO BRIDGE AND IRON COMPAN COM 167250109 333 7,925 SH   SOLE   7,925 0 0
CHURCH & DWIGHT INC COM 171340102 10,588 134,350 SH   SOLE   134,350 0 0
CISCO SYSTEMS INC COM 17275R102 1,069 38,424 SH   SOLE   38,424 0 0
COAST DISTRIBUTION SERVICES COM 190345108 42 13,000 SH   SOLE   13,000 0 0
COCA-COLA COM 191216100 1,571 37,202 SH   SOLE   37,202 0 0
COLGATE PALMOLIVE CO COM 194162103 440 6,362 SH   SOLE   6,362 0 0
COMMUNITY BANK SYSTEMS INC COM 203607106 19,318 506,635 SH   SOLE   506,635 0 0
COMPASS MINERALS INTERNATIONAL COM 20451n101 11,959 137,725 SH   SOLE   137,725 0 0
CONAGRA FOODS INC COM 205887102 1,922 52,971 SH   SOLE   52,971 0 0
CONOCOPHILLIPS COM 20825C104 14,898 215,730 SH   SOLE   215,730 0 0
COOPER TIRE & RUBBER COM 216831107 17,734 511,800 SH   SOLE   511,800 0 0
CORNING INC COM 219350105 328 14,300 SH   SOLE   14,300 0 0
CRANE CO COM 224399105 20,139 343,075 SH   SOLE   343,075 0 0
CSX CORP COM 126408103 6,159 170,007 SH   SOLE   170,007 0 0
CVS HEALTH CORPORATION COM 126650100 11,732 121,814 SH   SOLE   121,814 0 0
D.R. HORTON INC COM 23331A109 4,610 182,295 SH   SOLE   182,295 0 0
DARDEN RESTAURANTS INC COM 237194105 915 15,600 SH   SOLE   15,600 0 0
DEAN FOODS CO COM 242370203 20,178 1,041,160 SH   SOLE   1,041,160 0 0
DEERE & CO COM 244199105 5,030 56,850 SH   SOLE   56,850 0 0
DEVON ENERGY CORP COM 25179M103 1,089 17,788 SH   SOLE   17,788 0 0
DIAGEO PLC ADR COM 25243Q205 4,495 39,395 SH   SOLE   39,395 0 0
DIAMOND OFFSHORE DRILLING INC COM 25271C102 215 5,850 SH   SOLE   5,850 0 0
DOMINION RESOURCES INC VA COM 25746U109 3,719 48,365 SH   SOLE   48,365 0 0
DONEGAL GROUP INC CL A COM 257701201 449 28,083 SH   SOLE   28,083 0 0
DOVER CORP COM 260003108 242 3,375 SH   SOLE   3,375 0 0
DOW CHEMICAL CO COM 260543103 9,939 217,914 SH   SOLE   217,914 0 0
DR PEPPER SNAPPLE GROUP INC COM 26138E109 1,039 14,500 SH   SOLE   14,500 0 0
DU PONT EI DE NEMOURS COM 263534109 5,393 72,941 SH   SOLE   72,941 0 0
DUKE ENERGY CO COM 26441C204 3,281 39,274 SH   SOLE   39,274 0 0
EAST WEST BANCORP INC COM 27579R104 1,688 43,600 SH   SOLE   43,600 0 0
EATON CORP PLC COM G29183103 14,080 207,174 SH   SOLE   207,174 0 0
EL PASO ELECTRIC CO COM 283677854 18,054 450,681 SH   SOLE   450,681 0 0
ELI LILLY CO COM 532457108 7,423 107,599 SH   SOLE   107,599 0 0
EMERSON ELECTRIC COM 291011104 7,364 119,298 SH   SOLE   119,298 0 0
ENERGIZER HOLDINGS INC COM 29266R108 1,697 13,200 SH   SOLE   13,200 0 0
ENERGY TRANSFER EQUITY COM UT COM 29273v100 235 4,100 SH   SOLE   4,100 0 0
ENERGY TRANSFER PARTNERS LP COM 29273R109 208 3,200 SH   SOLE   3,200 0 0
ENERSYS COM 29275Y102 28,849 467,425 SH   SOLE   467,425 0 0
ENSCO PLC - CL A COM G3157S106 443 14,775 SH   SOLE   14,775 0 0
ENTERPRISE PRODUCTS PARTNERS COM 293792107 217 6,000 SH   SOLE   6,000 0 0
EXPRESS SCRIPTS HOLDING CO COM 30219G108 6,273 74,082 SH   SOLE   74,082 0 0
EXXON MOBIL CORPORATION COM 30231G102 11,579 125,246 SH   SOLE   125,246 0 0
FAMILY DOLLAR STORES COM 307000109 2,228 28,125 SH   SOLE   28,125 0 0
FEDEX CORPORATION COM 31428X106 4,684 26,970 SH   SOLE   26,970 0 0
FIRST MIDWEST BANCORP INC COM 320867104 16,238 949,025 SH   SOLE   949,025 0 0
FIRST REPUBLIC BANK/CA COM 33616C100 1,032 19,800 SH   SOLE   19,800 0 0
FISERV INC COM 337738108 2,502 35,248 SH   SOLE   35,248 0 0
FORD MOTOR COMPANY COM 345370860 7,962 513,655 SH   SOLE   513,655 0 0
FREEPORT-MCMORAN INC COM 35671D857 1,717 73,500 SH   SOLE   73,500 0 0
GENERAC HOLDINGS INC COM 368736104 24,093 515,240 SH   SOLE   515,240 0 0
GENERAL DYNAMICS CORP COM 369550108 495 3,595 SH   SOLE   3,595 0 0
GENERAL ELECTRIC COM 369604103 14,076 557,036 SH   SOLE   557,036 0 0
GENERAL MILLS INC COM 370334104 615 11,540 SH   SOLE   11,540 0 0
GENUINE PARTS CO COM 372460105 4,152 38,960 SH   SOLE   38,960 0 0
GILEAD SCIENCES INC COM 375558103 2,581 27,380 SH   SOLE   27,380 0 0
GLACIER BANCORP INC COM 37637q105 18,491 665,850 SH   SOLE   665,850 0 0
GLAXOSMITHKLINE PLC ADR COM 37733W105 672 15,730 SH   SOLE   15,730 0 0
GOOGLE INC CL A COM 38259P508 292 550 SH   SOLE   550 0 0
GOOGLE INC CL C COM 38259P706 258 490 SH   SOLE   490 0 0
GRAINGER W W INC COM 384802104 204 800 SH   SOLE   800 0 0
GREENBRIER COMPANIES INC COM 393657101 1,204 22,400 SH   SOLE   22,400 0 0
H&R BLOCK INC COM 093671105 738 21,900 SH   SOLE   21,900 0 0
HALLIBURTON CO COM 406216101 4,052 103,030 SH   SOLE   103,030 0 0
HALYARD HEALTH INC COM 40650v100 493 10,840 SH   SOLE   10,840 0 0
HARRIS CORP COM 413875105 3,284 45,725 SH   SOLE   45,725 0 0
HARTFORD FINANCIAL SERVICES GR COM 416515104 409 9,801 SH   SOLE   9,801 0 0
HELMERICH & PAYNE INC COM 423452101 337 5,000 SH   SOLE   5,000 0 0
HERSHEY FOODS COM 427866108 281 2,700 SH   SOLE   2,700 0 0
HERTZ GLOBAL HOLDINGS COM 42805T105 213 8,550 SH   SOLE   8,550 0 0
HESS CORP COM 42809H107 508 6,875 SH   SOLE   6,875 0 0
HOME DEPOT INC COM 437076102 2,059 19,615 SH   SOLE   19,615 0 0
HONEYWELL INTL INC COM 438516106 10,570 105,786 SH   SOLE   105,786 0 0
HORMEL FOODS CORP COM 440452100 854 16,400 SH   SOLE   16,400 0 0
IBERIABANK CORP COM 450828108 18,667 287,855 SH   SOLE   287,855 0 0
ICON PLC COM G4705A100 1,876 36,800 SH   SOLE   36,800 0 0
ICONIX BRAND GROUP INC COM 451055107 16,955 501,775 SH   SOLE   501,775 0 0
ILLINOIS TOOL WORKS COM 452308109 2,276 24,035 SH   SOLE   24,035 0 0
INGERSOLL-RAND PLC COM G47791101 244 3,850 SH   SOLE   3,850 0 0
INT'L BUSINESS MACHINES CORP COM 459200101 9,169 57,151 SH   SOLE   57,151 0 0
INTEL CORP COM 458140100 5,387 148,434 SH   SOLE   148,434 0 0
J.M. SMUCKER COM COM 832696405 1,167 11,559 SH   SOLE   11,559 0 0
JARDEN CORPORATION COM 471109108 35,692 745,443 SH   SOLE   745,443 0 0
JETBLUE AIRWAYS CORP COM 477143101 20,693 1,304,750 SH   SOLE   1,304,750 0 0
JOHNSON & JOHNSON COM 478160104 12,871 123,086 SH   SOLE   123,086 0 0
JOHNSON CONTROLS COM 478366107 1,772 36,650 SH   SOLE   36,650 0 0
JPMORGAN CHASE & CO. COM 46625H100 9,330 149,094 SH   SOLE   149,094 0 0
KAYNE ANDERSON ENERGY DEVELOPM COM 48660Q102 304 8,500 SH   SOLE   8,500 0 0
KAYNE ANDERSON MLP INVT CO COM 486606106 6,122 160,342 SH   SOLE   160,342 0 0
KELLOGG CO COM 487836108 400 6,106 SH   SOLE   6,106 0 0
KEY CORP COM 493267108 1,598 115,000 SH   SOLE   115,000 0 0
KIMBERLY-CLARK CORP COM 494368103 13,687 118,463 SH   SOLE   118,463 0 0
KINDER MORGAN INC COM 49456B101 627 14,810 SH   SOLE   14,810 0 0
KOHLS CORP WISC PV COM 500255104 1,459 23,900 SH   SOLE   23,900 0 0
KRAFT FOODS GROUP INC COM 50076Q106 743 11,859 SH   SOLE   11,859 0 0
L-3 COMMUNICATIONS HLDGS INC COM 502424104 2,359 18,690 SH   SOLE   18,690 0 0
LABORATORY CORPORATION OF AMER COM 50540R409 432 4,000 SH   SOLE   4,000 0 0
LOCKHEED MARTIN CORP COM 539830109 1,387 7,200 SH   SOLE   7,200 0 0
LORILLARD INC COM 544147101 280 4,450 SH   SOLE   4,450 0 0
LOWES COMPANIES INC COM 548661107 458 6,659 SH   SOLE   6,659 0 0
LYONDELL BASELL INDUSTRIES - C COM N53745100 3,989 50,240 SH   SOLE   50,240 0 0
MACY'S INC COM 55616P104 7,174 109,106 SH   SOLE   109,106 0 0
MAGELLAN MIDSTREAM PARTNERS LL COM 559080106 455 5,500 SH   SOLE   5,500 0 0
MAGNA INTERNATIONAL INC COM 559222401 1,785 16,420 SH   SOLE   16,420 0 0
MARATHON OIL CORP COM 565849106 756 26,740 SH   SOLE   26,740 0 0
MARATHON PETROLEUM CORP COM 56585A102 712 7,890 SH   SOLE   7,890 0 0
MARRIOTT INTERNATIONAL INC CL COM 571903202 2,185 28,000 SH   SOLE   28,000 0 0
MASTEC INCORPORATED COM 576323109 20,269 896,470 SH   SOLE   896,470 0 0
MB FINANCIAL INC COM 55264u108 18,743 570,375 SH   SOLE   570,375 0 0
MERCK & CO INC/NJ COM 58933Y105 6,359 111,970 SH   SOLE   111,970 0 0
MEREDITH CORP COM 589433101 883 16,250 SH   SOLE   16,250 0 0
METLIFE INC COM 59156R108 7,399 136,799 SH   SOLE   136,799 0 0
MICROSOFT CORP COM 594918104 14,750 317,542 SH   SOLE   317,542 0 0
MITSUBISHI UFJ FINANCIAL GROUP COM 606822104 55 10,000 SH   SOLE   10,000 0 0
MOHAWK INDUSTRIES INC COM 608190104 5,963 38,385 SH   SOLE   38,385 0 0
MONDELEZ INTERNATIONAL INC COM 609207105 1,173 32,284 SH   SOLE   32,284 0 0
MOOG INC CLASS A COM 615394202 29,841 403,100 SH   SOLE   403,100 0 0
MORGAN STANLEY COM 617446448 3,819 98,415 SH   SOLE   98,415 0 0
MURPHY OIL CORP COM 626717102 404 8,000 SH   SOLE   8,000 0 0
MYLAN INC COM 628530107 7,757 137,604 SH   SOLE   137,604 0 0
McCORMICK & CO INC NON VTG COM 579780206 2,340 31,500 SH   SOLE   31,500 0 0
McDONALDS CORP COM 580135101 8,525 90,979 SH   SOLE   90,979 0 0
NATIONAL OILWELL VARCO INC COM 637071101 831 12,675 SH   SOLE   12,675 0 0
NETAPP INC COM 64110D104 294 7,100 SH   SOLE   7,100 0 0
NETSCOUT SYSTEMS INC COM 64115T104 24,472 669,720 SH   SOLE   669,720 0 0
NEW JERSEY RESOURCES COM 646025106 2,341 38,250 SH   SOLE   38,250 0 0
NEXTERA ENERGY INC COM 65339F101 5,085 47,838 SH   SOLE   47,838 0 0
NOBLE CORP PLC COM G65431101 184 11,080 SH   SOLE   11,080 0 0
NORFOLK SOUTHERN CORP COM 655844108 10,918 99,606 SH   SOLE   99,606 0 0
NORTHWEST BANCSHARES INC COM 667340103 13,939 1,112,426 SH   SOLE   1,112,426 0 0
NOVARTIS AG COM 66987v109 433 4,673 SH   SOLE   4,673 0 0
NOVO-NORDISK ADR COM 670100205 9,061 214,100 SH   SOLE   214,100 0 0
NUANCE COMMUNICATIONS INC COM 67020Y100 220 15,400 SH   SOLE   15,400 0 0
NXP SEMICONDUCTORS NV ADR COM N6596X109 292 3,825 SH   SOLE   3,825 0 0
OCCIDENTAL PETROLEUM CORP COM 674599105 7,530 93,414 SH   SOLE   93,414 0 0
OMNICOM GROUP INC COM 681919106 225 2,900 SH   SOLE   2,900 0 0
ON SEMICONDUCTOR CORPORATION COM 682189105 17,814 1,758,555 SH   SOLE   1,758,555 0 0
ORACLE CORPORATION COM 68389X105 8,850 196,797 SH   SOLE   196,797 0 0
OSHKOSH CORP COM 688239201 18,071 371,450 SH   SOLE   371,450 0 0
PAREXEL INTERNATIONAL COM 699462107 34,752 625,480 SH   SOLE   625,480 0 0
PARKER-HANNIFIN COM 701094104 3,800 29,465 SH   SOLE   29,465 0 0
PAYCHEX INC COM 704326107 929 20,124 SH   SOLE   20,124 0 0
PENTAIR PLC COM G7S00T104 3,621 54,522 SH   SOLE   54,522 0 0
PEPSICO INC COM 713448108 7,156 75,678 SH   SOLE   75,678 0 0
PERKINELMER INC COM 714046109 1,159 26,500 SH   SOLE   26,500 0 0
PFIZER INC COM 717081103 3,949 126,775 SH   SOLE   126,775 0 0
PHILIP MORRIS INTERNATIONAL IN COM 718172109 2,711 33,285 SH   SOLE   33,285 0 0
PHILLIPS 66 COM 718546104 10,496 146,386 SH   SOLE   146,386 0 0
PIEDMONT NATURAL GAS COM 720186105 4,784 121,386 SH   SOLE   121,386 0 0
PNC FINANCIAL SERVICES GROUP COM 693475105 8,650 94,810 SH   SOLE   94,810 0 0
POLYONE CORP COM 73179P106 33,155 874,565 SH   SOLE   874,565 0 0
PORTLAND GENERAL ELECTRIC CO COM 736508847 16,419 434,025 SH   SOLE   434,025 0 0
PPG INDUSTRIES INC COM 693506107 11,370 49,190 SH   SOLE   49,190 0 0
PPL CORP COM 69351T106 1,227 33,774 SH   SOLE   33,774 0 0
PRAXAIR INC COM 74005P104 956 7,375 SH   SOLE   7,375 0 0
PROCTER & GAMBLE COM 742718109 5,873 64,476 SH   SOLE   64,476 0 0
PRUDENTIAL FINANCIAL COM 744320102 9,861 109,006 SH   SOLE   109,006 0 0
PTC INC COM 69370C100 26,355 719,105 SH   SOLE   719,105 0 0
PUBLIC SERVICE ENTERPRISE INC COM 744573106 625 15,100 SH   SOLE   15,100 0 0
QUAKER CHEMICAL COM 747316107 580 6,300 SH   SOLE   6,300 0 0
QUALCOMM INC COM 747525103 9,280 124,847 SH   SOLE   124,847 0 0
QUEST DIAGNOSTICS COM 74834L100 654 9,746 SH   SOLE   9,746 0 0
RAYTHEON COM 755111507 3,888 35,944 SH   SOLE   35,944 0 0
RF MICRO DEVICES COM 749941100 29,963 1,806,110 SH   SOLE   1,806,110 0 0
RGC RESOURCES COM 74955l103 773 35,116 SH   SOLE   35,116 0 0
ROYAL DUTCH SHELL PLC COM 780259206 732 10,935 SH   SOLE   10,935 0 0
RPM INC COM 749685103 9,094 179,333 SH   SOLE   179,333 0 0
SCHLUMBERGER LTD COM 806857108 3,714 43,489 SH   SOLE   43,489 0 0
SELECTIVE INSURANCE GROUP INC COM 816300107 16,289 599,525 SH   SOLE   599,525 0 0
SIGNATURE BANK COM 82669g104 29,733 236,050 SH   SOLE   236,050 0 0
SILGAN HOLDINGS INC COM 827048109 25,381 473,525 SH   SOLE   473,525 0 0
SKYWORKS SOLUTIONS INC COM 83088M102 9,989 137,375 SH   SOLE   137,375 0 0
SOLERA HOLDINGS INC COM 83421A104 13,881 271,225 SH   SOLE   271,225 0 0
SOUTHERN CO COM 842587107 260 5,300 SH   SOLE   5,300 0 0
SOUTHWEST GAS CORP COM 844895102 22,448 363,185 SH   SOLE   363,185 0 0
STANLEY BLACK DECKER INC COM 854502101 6,071 63,184 SH   SOLE   63,184 0 0
STARWOOD HOTELS RESORTS WORLDW COM 85590A401 1,459 18,000 SH   SOLE   18,000 0 0
STARZ CLASS A COM 85571Q102 17,134 576,900 SH   SOLE   576,900 0 0
SUPERIOR ENERGY SERVICES COM 868157108 762 37,800 SH   SOLE   37,800 0 0
SVB FINANCIAL GROUP COM 78486q101 29,348 252,850 SH   SOLE   252,850 0 0
SYSCO CORP COM 871829107 1,586 39,959 SH   SOLE   39,959 0 0
TAKE-TWO INTERACTIVE SOFTWARE COM 874054109 18,573 662,600 SH   SOLE   662,600 0 0
TAL INTERNATIONAL GROUP INC COM 874083108 245 5,625 SH   SOLE   5,625 0 0
TARGET CORP COM 87612E106 2,206 29,065 SH   SOLE   29,065 0 0
TE CONNECTIVITY LTD COM H84989104 3,804 60,150 SH   SOLE   60,150 0 0
TEVA PHARMACTCL INDS ADR COM 881624209 431 7,500 SH   SOLE   7,500 0 0
THE MOSAIC CO COM 61945C103 854 18,700 SH   SOLE   18,700 0 0
THE TRAVELERS COMPANIES INC COM 89417E109 7,981 75,396 SH   SOLE   75,396 0 0
THERMO FISHER SCIENTIFIC INC COM 883556102 5,995 47,850 SH   SOLE   47,850 0 0
TORCHMARK CORP COM 891027104 3,148 58,111 SH   SOLE   58,111 0 0
TORONTO-DOMINION BANK COM 891160509 5,574 116,651 SH   SOLE   116,651 0 0
TORTOISE ENERGY INFRASTRUCTURE COM 89147L100 440 10,050 SH   SOLE   10,050 0 0
TOTAL SA SPON ADR COM 89151E109 4,338 84,725 SH   SOLE   84,725 0 0
TRACTOR SUPPLY CO COM 892356106 2,041 25,900 SH   SOLE   25,900 0 0
TRINITY INDUSTRIES COM 896522109 19,277 688,230 SH   SOLE   688,230 0 0
TYCO INTERNATIONAL PLC COM G91442106 4,200 95,766 SH   SOLE   95,766 0 0
U.S. BANCORP COM 902973304 4,100 91,205 SH   SOLE   91,205 0 0
UGI CORP COM 902681105 5,024 132,275 SH   SOLE   132,275 0 0
UMPQUA HOLDINGS CORP COM 904214103 17,766 1,044,446 SH   SOLE   1,044,446 0 0
UNION PACIFIC CORP COM 907818108 7,394 62,063 SH   SOLE   62,063 0 0
UNITED BANKSHARES COM 909907107 20,737 553,725 SH   SOLE   553,725 0 0
UNITED PARCEL SERVICE INC COM 911312106 25,124 225,996 SH   SOLE   225,996 0 0
UNITED RENTALS COM 911363109 44,478 436,012 SH   SOLE   436,012 0 0
UNITED TECHNOLOGIES CORP COM 913017109 14,516 126,224 SH   SOLE   126,224 0 0
V F CORP COM 918204108 10,799 144,183 SH   SOLE   144,183 0 0
VALERO ENERGY CORP COM 91913Y100 416 8,400 SH   SOLE   8,400 0 0
VERIZON COMMUNICATIONS COM 92343V104 9,852 210,610 SH   SOLE   210,610 0 0
WAL-MART STORES COM 931142103 283 3,300 SH   SOLE   3,300 0 0
WALT DISNEY COMPANY COM 254687106 2,347 24,914 SH   SOLE   24,914 0 0
WASHINGTON TRUST BANCORP INC COM 940610108 260 6,480 SH   SOLE   6,480 0 0
WASTE MANAGEMENT INC COM 94106L109 11,890 231,676 SH   SOLE   231,676 0 0
WD-40 CO COM 929236107 5,177 60,850 SH   SOLE   60,850 0 0
WEBSTER FINANCIAL CORP COM 947890109 21,641 665,255 SH   SOLE   665,255 0 0
WELLS FARGO & CO COM 949746101 1,374 25,072 SH   SOLE   25,072 0 0
WESCO INTERNATIONAL INC COM 95082P105 1,364 17,900 SH   SOLE   17,900 0 0
WEST PHARMACEUTICAL SERVICES COM 955306105 37,422 702,900 SH   SOLE   702,900 0 0
WESTLAKE CHEMICAL CORP COM 960413102 1,148 18,800 SH   SOLE   18,800 0 0
WGL HOLDINGS COM 92924F106 1,081 19,800 SH   SOLE   19,800 0 0
WHIRLPOOL CORP COM 963320106 8,201 42,330 SH   SOLE   42,330 0 0
WINTRUST FINANCIAL CORP COM 97650W108 19,266 412,025 SH   SOLE   412,025 0 0
WORTHINGTON INDUSTRIES INC COM 981811102 15,098 501,765 SH   SOLE   501,765 0 0
XCEL ENERGY INC COM 98389B100 255 7,100 SH   SOLE   7,100 0 0
ZIMMER HOLDINGS INC COM 98956P102 5,600 49,370 SH   SOLE   49,370 0 0
ISHARES US PREFERRED STOCK E COM 464288687 473 12,000 SH   SOLE   12,000 0 0
VANGUARD LARGE-CAP ETF COM 922908637 1,844 19,535 SH   SOLE   19,535 0 0
VANGUARD TOTAL STOCK MKT VIPER COM 922908769 551 5,200 SH   SOLE   5,200 0 0
ISHARES CHINA LARGE CAP ETF COM 464287184 1,881 45,200 SH   SOLE   45,200 0 0
ISHARES CORE MSCI EAFE ETF COM 46432f842 221 4,000 SH   SOLE   4,000 0 0
ISHARES MSCI EAFE ETF COM 464287465 960 15,775 SH   SOLE   15,775 0 0
ISHARES MSCI EMERGING MKTS FD COM 464287234 4,107 104,529 SH   SOLE   104,529 0 0
ISHARES MSCI JAPAN INDEX FD COM 464286848 278 24,745 SH   SOLE   24,745 0 0
ISHARES MSCI PACIFIC EX JAPAN COM 464286665 5,437 123,700 SH   SOLE   123,700 0 0
VANGUARD FTSE EMERGING MARKETS COM 922042858 4,702 117,479 SH   SOLE   117,479 0 0
VANGUARD TOTAL INTL STOCK ETF COM 921909768 377 7,800 SH   SOLE   7,800 0 0
DNP SELECT INCOME FUND INC COM 23325P104 370 35,050 SH   SOLE   5,050 0 0