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
AES TRUST III CV 6.75% PRD 00808N202 281 5,585 SH   SOLE   0 0 5,585
CITIGROUP CAPITAL IX PRD 173066200 245 9,800 SH   SOLE   0 0 9,800
FIRST REPUBLIC BANK 5.625 PREF PRD 33616C605 454 22,300 SH   SOLE   0 0 22,300
GOLDMAN SACHS 5.95% PFD SER I PRD 38145G209 466 20,700 SH   SOLE   0 0 20,700
JPMORGAN CHASE 5.5% PFD PRD 48126E750 457 21,250 SH   SOLE   0 0 21,250
KIMCO REALTY CORP PRD 49446R778 249 12,600 SH   SOLE   0 0 12,600
NUVEEN MUNI VALUE FUND PRD nuv 645 70,650 SH   SOLE   0 0 70,650
VORNADO REALTY TRUST 5.7% PFD PRD 929042851 260 12,500 SH   SOLE   0 0 12,500
3-D SYSTEMS CORP COM 88554D205 1,745 32,329 SH   SOLE   0 0 32,329
3M COMPANY COM 88579Y101 2,061 17,260 SH   SOLE   0 0 17,260
ABB LIMITED SPONS ADR COM 000375204 307 13,000 SH   SOLE   0 0 13,000
ABBOTT LABS COM 002824100 1,313 39,561 SH   SOLE   0 0 39,561
ABBVIE INC COM 00287Y109 1,874 41,902 SH   SOLE   0 0 41,902
ACCENTURE LTD COM g1151c101 909 12,350 SH   SOLE   0 0 12,350
ACE LTD. COM H0023r105 641 6,850 SH   SOLE   0 0 6,850
AK STEEL HOLDING CORP COM 001547108 82 22,000 SH   SOLE   0 0 22,000
ALBEMARLE CORP COM 012653101 494 7,850 SH   SOLE   0 0 7,850
ALCOA INC. COM 013817101 153 18,850 SH   SOLE   0 0 18,850
ALEXANDER & BALDWIN INC COM 014482103 206 5,725 SH   SOLE   0 0 5,725
ALLSTATE CORP COM 020002101 704 13,920 SH   SOLE   0 0 13,920
AMERICAN ELECTRIC POWER COM 025537101 347 8,000 SH   SOLE   0 0 8,000
AMERICAN EXPRESS COM 025816109 1,718 22,750 SH   SOLE   0 0 22,750
AMERICAN INT'L GROUP COM 026874784 245 5,028 SH   SOLE   0 0 5,028
AMERICAN TOWER REIT COM 03027X100 282 3,800 SH   SOLE   0 0 3,800
AMGEN COM 031162100 1,981 17,700 SH   SOLE   0 0 17,700
ANADARKO PETR. COM 032511107 1,071 11,512 SH   SOLE   0 0 11,512
ANNALY MORTGAGE COM 035710409 303 26,125 SH   SOLE   0 0 26,125
APACHE CORP COM 037411105 853 10,015 SH   SOLE   0 0 10,015
APPLE COMPUTER COM 037833100 5,376 11,276 SH   SOLE   0 0 11,276
APPLIED MATERIALS COM 038222105 682 38,900 SH   SOLE   0 0 38,900
AQUA AMERICA COM 03836W103 964 38,983 SH   SOLE   0 0 38,983
ASSURED GUARANTY LTD COM g0585r106 727 38,770 SH   SOLE   0 0 38,770
ASTEX PHARMACEUTICALS INC COM 04635B103 98 11,500 SH   SOLE   0 0 11,500
AT&T INC. COM 00206R102 5,812 171,844 SH   SOLE   15,000 0 156,844
B&G FOODS INC. COM 05508r106 1,286 37,226 SH   SOLE   0 0 37,226
BANK OF AMERICA CORP COM 060505104 1,078 78,146 SH   SOLE   0 0 78,146
BANK OF NEW YORK MELLON CORP COM 064058100 215 7,130 SH   SOLE   0 0 7,130
BARD CR INC NJ COM 067383109 230 2,000 SH   SOLE   0 0 2,000
BAXTER INT'L COM 071813109 1,448 22,050 SH   SOLE   0 0 22,050
BB&T CORP. COM 054937107 228 6,750 SH   SOLE   0 0 6,750
BECTON DICKINSON COM 075887109 1,583 15,825 SH   SOLE   7,000 0 8,825
BED BATH & BEYOND COM 075896100 1,712 22,125 SH   SOLE   0 0 22,125
BERKSHIRE HATHAWAY 'A' COM 084670108 341 2 SH   SOLE   0 0 2
BERKSHIRE HATHAWAY INC. CLASS COM 084670702 1,251 11,025 SH   SOLE   0 0 11,025
BILL BARRETT CORP COM 06846N104 251 10,000 SH   SOLE   0 0 10,000
BIOGEN COM 09062X103 1,088 4,519 SH   SOLE   0 0 4,519
BIRCHCLIFF ENERGY LTD COM 090697103 271 39,910 SH   SOLE   0 0 39,910
BLACK HILLS CORPORATION COM 092113109 267 5,345 SH   SOLE   0 0 5,345
BLACKSTONE GROUP LP COM 09253U108 2,445 98,250 SH   SOLE   0 0 98,250
BOEING CO COM 097023105 1,010 8,600 SH   SOLE   0 0 8,600
BP PLC ADR COM 055622104 544 12,939 SH   SOLE   0 0 12,939
BRINKS COMPANY COM 109696104 424 15,000 SH   SOLE   0 0 15,000
BRISTOL MYERS SQUIBB COM 110122108 4,107 88,746 SH   SOLE   10,000 0 78,746
BROADRIDGE FINANCIAL SOLUTIONS COM 11133T103 1,042 32,828 SH   SOLE   0 0 32,828
BRYN MAWR BANK CORP COM 117665109 270 10,000 SH   SOLE   0 0 10,000
CALCOL INC COM 128699105 1 21,000 SH   SOLE   0 0 21,000
CAMECO CORPORATION COM 13321L108 379 21,000 SH   SOLE   0 0 21,000
CAPSTEAD MORTGAGE CORP COM 14067E506 791 67,222 SH   SOLE   0 0 67,222
CBOE HOLDINGS, INC COM 12503M108 918 20,300 SH   SOLE   0 0 20,300
CELANESE CORP COM 150870103 428 8,100 SH   SOLE   0 0 8,100
CELGENE COM 151020104 686 4,450 SH   SOLE   0 0 4,450
CENOVUS ENERGY INC COM 15135U109 537 18,000 SH   SOLE   15,000 0 3,000
CENTURYLINK INC COM 156700106 1,063 33,881 SH   SOLE   0 0 33,881
CERNER CORP COM 156782104 282 5,360 SH   SOLE   0 0 5,360
CHEFS WAREHOUSE INC COM 163086101 2,034 88,056 SH   SOLE   0 0 88,056
CHESAPEAKE ENERGY CORP COM 165167107 684 26,420 SH   SOLE   0 0 26,420
CHEVRON CORP. COM 166764100 2,956 24,327 SH   SOLE   0 0 24,327
CHICAGO BRIDGE & IRON COM 167250109 3,357 49,532 SH   SOLE   0 0 49,532
CHICO'S FAS INC COM 168615102 888 53,300 SH   SOLE   0 0 53,300
CHURCH & DWIGHT INC. COM 171340102 332 5,522 SH   SOLE   0 0 5,522
CITIGROUP INC COM 172967424 444 9,154 SH   SOLE   0 0 9,154
CLEAN HARBORS INC COM 184496107 220 3,750 SH   SOLE   0 0 3,750
CLIFFS NATURAL RESOURCES, INC. COM 18683K101 1,425 69,500 SH   SOLE   0 0 69,500
CLOROX CO COM 189054109 1,361 16,650 SH   SOLE   0 0 16,650
CNH INDUSTRIAL NV COM N20944109 1,148 91,835 SH   SOLE   0 0 91,835
COACH INC. COM 189754104 1,701 31,200 SH   SOLE   0 0 31,200
COCA COLA COM 191216100 3,201 84,495 SH   SOLE   0 0 84,495
COLGATE PALMOLIVE COM 194162103 415 7,000 SH   SOLE   0 0 7,000
COMCAST CORP COM 20030N101 688 15,244 SH   SOLE   0 0 15,244
COMMVAULT SYSTEMS INC COM 204166102 690 7,850 SH   SOLE   0 0 7,850
COMPANHIA DE BEBIDAS DAS AMERI COM 20441w203 326 8,500 SH   SOLE   0 0 8,500
CONAGRA COM 205887102 276 9,100 SH   SOLE   0 0 9,100
CONOCOPHILLIPS COM 20825C104 2,200 31,645 SH   SOLE   0 0 31,645
CONSOLIDATED EDISON COM 209115104 354 6,415 SH   SOLE   0 0 6,415
CORNING INC COM 219350105 179 12,260 SH   SOLE   0 0 12,260
CRAFT BREW ALLIANCE INC COM 224122101 780 58,060 SH   SOLE   0 0 58,060
CROWN LABORATORIES INC COM 228392304 0 25,000 SH   SOLE   0 0 25,000
CSX CORP COM 126408103 2,318 90,067 SH   SOLE   0 0 90,067
CURIS INC COM 231269101 214 48,000 SH   SOLE   0 0 48,000
CVS CORP COM 126650100 1,379 24,300 SH   SOLE   0 0 24,300
DALECO RESOURCES CORP COM 23437P208 208 1,308,250 SH   SOLE   0 0 1,308,250
DANA HOLDING CORPORATION COM 235825205 1,896 83,000 SH   SOLE   0 0 83,000
DECKERS OUTDOOR CORP COM 243537107 1,365 20,700 SH   SOLE   0 0 20,700
DEERE & CO. COM 244199105 489 6,005 SH   SOLE   0 0 6,005
DELUXE CORP COM 248019101 339 8,143 SH   SOLE   0 0 8,143
DENTSPLY INTERNATIONAL INC COM 249030107 267 6,150 SH   SOLE   0 0 6,150
DEPOMED INC COM 249908104 134 18,000 SH   SOLE   0 0 18,000
DIGI INTERNATIONAL INC COM 253798102 941 94,200 SH   SOLE   0 0 94,200
DISNEY, WALT COM 254687106 2,772 42,983 SH   SOLE   0 0 42,983
DOMINION RESOURCES COM 25746U109 656 10,500 SH   SOLE   0 0 10,500
DOVER CORP COM 260003108 225 2,500 SH   SOLE   0 0 2,500
DOW CHEMICAL COM 260543103 482 12,550 SH   SOLE   0 0 12,550
DRYSHIPS INC COM y2109q101 64 18,000 SH   SOLE   0 0 18,000
DU PONT (EI) DE NEMOURS COM 263534109 3,804 64,952 SH   SOLE   0 0 64,952
DUKE ENERGY CORP COM 26441C204 1,260 18,869 SH   SOLE   0 0 18,869
DUNKIN BRANDS GROUP INC COM 265504100 579 12,800 SH   SOLE   0 0 12,800
E-COMMERCE CHINA DANGDANG INC COM 26833A105 225 21,450 SH   SOLE   0 0 21,450
EBAY COM 278642103 647 11,600 SH   SOLE   0 0 11,600
ELI LILLY COM 532457108 730 14,503 SH   SOLE   0 0 14,503
EMC CORP COM 268648102 2,469 96,603 SH   SOLE   0 0 96,603
EMC METALS CORP COM 268665106 12 321,100 SH   SOLE   0 0 321,100
EMERSON ELECTRIC COM 291011104 2,930 45,281 SH   SOLE   15,000 0 30,281
ENTREMED INC NEW COM 29382F202 1,387 770,314 SH   SOLE   0 0 770,314
EQT CORPORATION COM 26884l109 1,118 12,600 SH   SOLE   0 0 12,600
EQUIFAX COM 294429105 748 12,500 SH   SOLE   0 0 12,500
EVERCORE PARTNERS INC CL A COM 29977A108 1,061 21,550 SH   SOLE   0 0 21,550
EXPRESS SCRIPTS HOLDING CO COM 30219G108 7,427 120,177 SH   SOLE   0 0 120,177
EXXON MOBIL CORP COM 30231G102 18,011 209,334 SH   SOLE   0 0 209,334
F X ENERGY COM 302695101 465 135,500 SH   SOLE   0 0 135,500
FACEBOOK INC COM 30303M102 1,417 28,212 SH   SOLE   0 0 28,212
FAIRWAY GROUP HOLDINGS CORP COM 30603D109 256 10,000 SH   SOLE   0 0 10,000
FEDEX CORP COM 31428X106 205 1,800 SH   SOLE   0 0 1,800
FIDELITY NATIONAL FINL INC COM 31620R105 428 16,097 SH   SOLE   0 0 16,097
FIRST REPUBLIC BANK SAN FRANCI COM 33616c100 765 16,400 SH   SOLE   0 0 16,400
FLOWERS FOODS INC. COM 343498101 157,279 7,335,759 SH   SOLE   3,642,922 0 3,692,837
FLUOR CORP COM 343412102 1,242 17,500 SH   SOLE   0 0 17,500
FORD MOTOR COM 345370860 3,558 210,896 SH   SOLE   25,000 0 185,896
FOREST OIL CORPORATION COM 346091705 797 130,715 SH   SOLE   0 0 130,715
FORTUNE BRANDS HOME & SECURITY COM 34964c106 1,332 32,000 SH   SOLE   0 0 32,000
FREEPORT MCMORAN COPPER & GOLD COM 35671D857 790 23,880 SH   SOLE   0 0 23,880
FRONTIER COMMUNICATIONS CORP COM 35906a108 284 67,863 SH   SOLE   0 0 67,863
FUELCELL ENEGY COM 35952H106 32 25,000 SH   SOLE   0 0 25,000
GENERAL DYNAMICS COM 369550108 223 2,550 SH   SOLE   0 0 2,550
GENERAL ELECTRIC COM 369604103 5,967 249,759 SH   SOLE   0 0 249,759
GENERAL MILLS COM 370334104 383 8,000 SH   SOLE   0 0 8,000
GENOIL INC COM 371924101 1 62,000 SH   SOLE   0 0 62,000
GILEAD SCIENCES INC. COM 375558103 2,370 37,700 SH   SOLE   0 0 37,700
GNC HOLDINGS INC COM 36191G107 302 5,525 SH   SOLE   0 0 5,525
GOLAR LNG LIMITED COM G9456A100 1,164 30,900 SH   SOLE   0 0 30,900
GOLDMAN SACHS COM 38141G104 973 6,150 SH   SOLE   0 0 6,150
GOLUB CAPITAL BDC INC COM 38173M102 982 56,690 SH   SOLE   0 0 56,690
GOODYEAR TIRE & RUBBER COM 382550101 636 28,350 SH   SOLE   0 0 28,350
GOOGLE INC COM 38259P508 6,307 7,200 SH   SOLE   0 0 7,200
GRAFTECH INTL LTD COM 384313102 244 28,850 SH   SOLE   0 0 28,850
GSV CAPITAL CORP COM 36191J101 148 10,000 SH   SOLE   0 0 10,000
HELIX ENERGY SOLUTIONS GROUP COM 42330P107 254 10,000 SH   SOLE   0 0 10,000
HELMERICH & PAYNE INC COM 423452101 207 3,000 SH   SOLE   0 0 3,000
HERSHEY FOODS COM 427866108 310 3,346 SH   SOLE   0 0 3,346
HILLSHIRE BRANDS CO COM 432589109 360 11,720 SH   SOLE   4,000 0 7,720
HOLOGIC INC COM 436440101 1,340 64,900 SH   SOLE   0 0 64,900
HOME DEPOT COM 437076102 1,863 24,555 SH   SOLE   0 0 24,555
HOME LOAN SERVICING SOLUTIONS COM G6648D109 788 35,800 SH   SOLE   0 0 35,800
HONEYWELL INTERNATIONAL COM 438516106 2,338 28,157 SH   SOLE   0 0 28,157
HOSPITALITY PROP TRUST COM 44106M102 275 9,700 SH   SOLE   0 0 9,700
HUMANA INC COM 444859102 392 4,200 SH   SOLE   0 0 4,200
HYSTER-YALE MATERIALS HANDLING COM 449172105 1,228 13,700 SH   SOLE   0 0 13,700
ILLINOIS TOOL WORKS COM 452308109 643 8,430 SH   SOLE   0 0 8,430
ILLUMINA INC. COM 452327109 1,196 14,800 SH   SOLE   0 0 14,800
IMMUNOCELLULAR THERAPEUTICS LT COM 452536105 26 10,000 SH   SOLE   0 0 10,000
INGREDION INC COM 457187102 1,232 18,626 SH   SOLE   0 0 18,626
INT'L BUS MACHINES COM 459200101 9,556 51,602 SH   SOLE   0 0 51,602
INTEL CORP COM 458140100 962 41,956 SH   SOLE   0 0 41,956
IPATH GS CRUDE OIL TOTAL RETUR COM 06738C786 205 8,475 SH   SOLE   0 0 8,475
IROBOT CORPORATION COM 462726100 369 9,800 SH   SOLE   0 0 9,800
IRON MTN INC COM COM 462846106 370 13,700 SH   SOLE   0 0 13,700
ISHARES JAPAN INC COM 464286848 138 11,600 SH   SOLE   0 0 11,600
ISHARES S&P U.S. PFD STOCK ETF COM 464288687 783 20,595 SH   SOLE   0 0 20,595
ISHARES TRUST DOW JONES SELECT COM 464287168 1,036 15,610 SH   SOLE   0 0 15,610
ISHARES UNITED STATES TREASURY COM 464287176 236 2,100 SH   SOLE   0 0 2,100
ISHARES USD CORP BOND COM 464287242 210 1,850 SH   SOLE   0 0 1,850
J M SMUCKER CL A COM 832696405 350 3,330 SH   SOLE   0 0 3,330
JARDEN CORPORATION COM 471109108 227 4,680 SH   SOLE   0 0 4,680
JOHNSON & JOHNSON COM 478160104 6,653 76,739 SH   SOLE   0 0 76,739
JP MORGAN CHASE COM 46625H100 1,118 21,634 SH   SOLE   0 0 21,634
KELLOGG CO COM 487836108 376 6,400 SH   SOLE   0 0 6,400
KIMBERLY CLARK COM 494368103 417 4,428 SH   SOLE   0 0 4,428
KKR & COMPANY LP COM 48248M102 804 39,050 SH   SOLE   0 0 39,050
KODIAK OIL & GAS CORP COM 50015Q100 371 30,775 SH   SOLE   0 0 30,775
KRAFT FOODS GROUP COM 50076Q106 665 12,679 SH   SOLE   0 0 12,679
LANCASTER COLONY CORP COM 513847103 548 7,000 SH   SOLE   0 0 7,000
LINKEDIN CORP COM 53578A108 1,404 5,705 SH   SOLE   0 0 5,705
LINN CO LLC COM 535782106 1,163 39,850 SH   SOLE   0 0 39,850
LOCKHEED MARTIN COM 539830109 1,658 13,000 SH   SOLE   0 0 13,000
LOEWS CORP COM 540424108 644 13,789 SH   SOLE   0 0 13,789
LSI LOGIC COM 502161102 165 21,142 SH   SOLE   0 0 21,142
LYONDELLBASELL INDUSTRIES COM N53745100 553 7,550 SH   SOLE   0 0 7,550
MACQUARIE INFRASTRUCTURE CO LT COM 55608B105 1,274 23,800 SH   SOLE   0 0 23,800
MAIN STREET CAPITAL CORP COM 56035L104 293 9,800 SH   SOLE   0 0 9,800
MASTERCARD INC COM 57636Q104 5,540 8,235 SH   SOLE   0 0 8,235
MCDONALDS CORP COM 580135101 2,379 24,729 SH   SOLE   0 0 24,729
MCKESSON CORP COM 58155Q103 1,874 14,610 SH   SOLE   0 0 14,610
MDU RESOURCES GROUP INC COM 552690109 439 15,700 SH   SOLE   0 0 15,700
MERCADOLIBRE INC COM 58733R102 360 2,665 SH   SOLE   0 0 2,665
MERCK & CO COM 58933y105 2,532 53,187 SH   SOLE   0 0 53,187
MERIDIAN BIOSCIENCE INC COM 589584101 269 11,400 SH   SOLE   0 0 11,400
MICROCHIP TECH COM 595017104 239 5,931 SH   SOLE   0 0 5,931
MICROSOFT COM 594918104 3,479 104,536 SH   SOLE   0 0 104,536
MIDDLEBY CORP COM 596278101 307 1,470 SH   SOLE   0 0 1,470
MITEK SYSTEMS INC COM 606710200 350 67,800 SH   SOLE   0 0 67,800
MONMOUTH REAL ESTATE INVESTMEN COM 609720107 266 29,300 SH   SOLE   0 0 29,300
MONSANTO CO. COM 61166W101 202 1,938 SH   SOLE   0 0 1,938
NATIONAL FUEL GAS CO COM 636180101 763 11,100 SH   SOLE   0 0 11,100
NATIONAL OILWELL VARCO INC COM 637071101 2,150 27,530 SH   SOLE   0 0 27,530
NATIONAL PA BANKSHARES INC COM 637138108 100 10,000 SH   SOLE   0 0 10,000
NESTLE S A SPONSORED ADR COM 641069406 550 7,900 SH   SOLE   0 0 7,900
NEW YORK COMMUNITY BANCORP INC COM 649445103 417 27,600 SH   SOLE   0 0 27,600
NEWELL RUBBERMAID COM 651229106 330 12,000 SH   SOLE   0 0 12,000
NEWS CORPORATION (B) COM 65249B208 291 17,710 SH   SOLE   0 0 17,710
NEXTERA ENERGY INC COM 65339F101 551 6,875 SH   SOLE   0 0 6,875
NIKE COM 654106103 937 12,900 SH   SOLE   0 0 12,900
NORFOLK SOUTHERN COM 655844108 735 9,500 SH   SOLE   0 0 9,500
NOVARTIS AG ADR COM 66987v109 1,038 13,537 SH   SOLE   0 0 13,537
NUVERRA ENVIRONMENTAL SOLUTION COM 67091K104 151 66,150 SH   SOLE   0 0 66,150
OASIS PETROLEUM INC COM 674215108 2,573 52,380 SH   SOLE   0 0 52,380
OCH-ZIFF CAP MANAGEMENT GROUP COM 67551U105 379 34,470 SH   SOLE   0 0 34,470
ORGANOVO HOLDINGS INC COM 68620A104 124 21,500 SH   SOLE   0 0 21,500
OWENS CORNING INC. COM 690742101 323 8,500 SH   SOLE   0 0 8,500
PAYCHEX INC COM 704326107 423 10,400 SH   SOLE   0 0 10,400
PENTAIR LTD COM H6169Q108 537 8,266 SH   SOLE   0 0 8,266
PEPSICO COM 713448108 3,634 45,710 SH   SOLE   0 0 45,710
PERKINELMER COM 714046109 340 9,000 SH   SOLE   0 0 9,000
PFIZER COM 717081103 4,354 151,578 SH   SOLE   15,000 0 136,578
PHILIP MORRIS INTERNATIONAL IN COM 718172109 977 11,286 SH   SOLE   0 0 11,286
PHILLIPS 66 COM 718546104 554 9,580 SH   SOLE   0 0 9,580
PINNACLE FOODS INC COM 72348P104 2,340 88,400 SH   SOLE   0 0 88,400
PLATINUM UNDERWRITER HOLDINGS COM g7127P100 269 4,500 SH   SOLE   0 0 4,500
PLUM CREEK TIMBER COM 729251108 1,150 24,563 SH   SOLE   0 0 24,563
POLYONE CORP COM 73179p106 407 13,250 SH   SOLE   0 0 13,250
POWERSHARES QQQ TRUST COM 73935A104 1,469 18,620 SH   SOLE   0 0 18,620
POWERSHARES S&P 500 HIGH DIVID COM 739378654 1,210 44,400 SH   SOLE   0 0 44,400
POWERSHRS FINANCIAL PRFD PORTF COM 73935X229 179 10,450 SH   SOLE   0 0 10,450
PRECISION DRILLING CORP COM 74022D308 152 15,300 SH   SOLE   0 0 15,300
PROCTER & GAMBLE COM 742718109 6,170 81,625 SH   SOLE   0 0 81,625
QEP RES INC COM 74733V100 366 13,200 SH   SOLE   0 0 13,200
QUALCOMM INC COM 747525103 1,346 20,000 SH   SOLE   0 0 20,000
QUANTA SERVICES COM 74762E102 275 9,980 SH   SOLE   0 0 9,980
QUESTAR CORP COM 748356102 398 17,700 SH   SOLE   0 0 17,700
RACKSPACE HOSTING, INC COM 750086100 314 5,945 SH   SOLE   0 0 5,945
RAYTHEON CO COM 755111507 401 5,200 SH   SOLE   0 0 5,200
REGAL ENTERTAINMENT GROUP COM 758766109 1,187 62,517 SH   SOLE   0 0 62,517
RITCHIE BROS AUCTIONEERS INC COM 767744105 2,488 123,280 SH   SOLE   0 0 123,280
ROCHE COM 771195104 270 4,000 SH   SOLE   0 0 4,000
ROCKWELL AUTOMATION INC COM 773903109 567 5,300 SH   SOLE   0 0 5,300
ROCKWELL COLLINS COM 774341101 394 5,800 SH   SOLE   0 0 5,800
ROSS STORES COM 778296103 1,166 16,015 SH   SOLE   0 0 16,015
ROWAN COMPANIES PLC COM G7665A101 201 5,480 SH   SOLE   0 0 5,480
ROYAL DUTCH SHELL PLC CL A COM 780259206 2,908 44,275 SH   SOLE   0 0 44,275
RPM INTERNATIONAL INC. COM 749685103 2,355 65,050 SH   SOLE   0 0 65,050
RYDER SYSTEMS INC. COM 783549108 209 3,500 SH   SOLE   0 0 3,500
SALIX PHARMACEUTICALS LTD COM 795435106 866 12,954 SH   SOLE   0 0 12,954
SCANA CORP COM 80589M102 272 5,900 SH   SOLE   0 0 5,900
SCHLUMBERGER LTD COM 806857108 5,699 64,499 SH   SOLE   10,000 0 54,499
SEADRILL LTD COM G7945E105 6,936 153,853 SH   SOLE   0 0 153,853
SEADRILL PARTNERS LLC COM Y7545W109 1,173 35,940 SH   SOLE   0 0 35,940
SEAGATE TECHNOLOGY COM g7945m107 1,050 24,000 SH   SOLE   0 0 24,000
SEARCHLIGHT MINERALS CORP COM 812224202 5 15,000 SH   SOLE   0 0 15,000
SENIOR HOUSING PROPERTIES TRUS COM 81721M109 245 10,500 SH   SOLE   0 0 10,500
SENSIENT TECHNOLOGIES CORP COM 81725t100 1,221 25,500 SH   SOLE   15,000 0 10,500
SILVER WHEATON CORPORATION COM 828336107 224 9,026 SH   SOLE   0 0 9,026
SIMON PROPERTY GRP COM 828806109 624 4,211 SH   SOLE   0 0 4,211
SIRIUS XM RADIO INC COM 82967n108 85 22,000 SH   SOLE   0 0 22,000
SNAP ON INC. COM 833034101 3,184 32,000 SH   SOLE   20,000 0 12,000
SNYDERS-LANCE INC COM 833551104 2,919 101,246 SH   SOLE   30,000 0 71,246
SPDR GOLD TRUST COM 78463v107 592 4,620 SH   SOLE   0 0 4,620
SPDR S&P DIVIDEND ETF COM 78464A763 1,043 15,135 SH   SOLE   0 0 15,135
STANLEY BLACK & DECKER INC COM 854502101 2,343 25,868 SH   SOLE   0 0 25,868
STARWOOD PROPERTY TRUST INC COM 85571B105 357 14,900 SH   SOLE   0 0 14,900
STEEL DYNAMICS COM 858119100 245 14,645 SH   SOLE   0 0 14,645
STEPAN CO. COM 858586100 1,995 34,553 SH   SOLE   20,000 0 14,553
STERICYCLE INC COM 858912108 1,759 15,245 SH   SOLE   0 0 15,245
SUNCOR ENERGY INC. COM 867224107 811 22,675 SH   SOLE   0 0 22,675
SUNEDISON INC COM 86732Y109 135 16,900 SH   SOLE   0 0 16,900
SUPERIOR ENERGY SERVICES INC. COM 868157108 374 14,950 SH   SOLE   0 0 14,950
SYNGENTA COM 87160A100 252 3,100 SH   SOLE   0 0 3,100
SYNTEL INC COM 87162H103 1,109 13,850 SH   SOLE   0 0 13,850
SYSCO CORP COM 871829107 520 16,350 SH   SOLE   0 0 16,350
TARGET CORP. COM 87612E106 1,500 23,440 SH   SOLE   0 0 23,440
TATE & LYLE COM 876570607 477 9,915 SH   SOLE   0 0 9,915
TECO ENERGY COM 872375100 651 39,349 SH   SOLE   0 0 39,349
TEJON RANCH COMPANY COM 879080109 942 30,530 SH   SOLE   0 0 30,530
TEVA PHARM INDUS.-ADR COM 881624209 308 8,152 SH   SOLE   0 0 8,152
TEXAS INSTRUMENTS COM 882508104 559 13,880 SH   SOLE   0 0 13,880
TEXTAINER GROUP HOLDINGS LTD COM G8766E109 303 8,000 SH   SOLE   0 0 8,000
THE TRAVELERS COMPANIES INC COM 89417E109 2,199 25,938 SH   SOLE   10,000 0 15,938
THOR INDS INC. COM 885160101 267 4,600 SH   SOLE   0 0 4,600
TOOTSIE ROLL COM 890516107 1,038 33,664 SH   SOLE   12,664 0 21,000
TRACTOR SUPPLY COM 892356106 893 13,300 SH   SOLE   0 0 13,300
TUMI HOLDINGS INC COM 8996Q1043 1,430 70,955 SH   SOLE   0 0 70,955
TUPPERWARE CORP. COM 899896104 1,902 22,020 SH   SOLE   0 0 22,020
TWENTY-FIRST CENTURY FOX INC ( COM 90130A200 645 19,300 SH   SOLE   0 0 19,300
TWO HARBORS INVT CORP COM 90187B101 318 32,800 SH   SOLE   0 0 32,800
UNION PACIFIC COM 907818108 1,163 7,490 SH   SOLE   0 0 7,490
UNITED HEALTHGROUP COM 91324P102 403 5,634 SH   SOLE   0 0 5,634
UNITED PARCEL SERVICE COM 911312106 494 5,412 SH   SOLE   0 0 5,412
UNITED RENTALS INC COM 911363109 3,290 56,440 SH   SOLE   0 0 56,440
UNITED TECH. COM 913017109 949 8,800 SH   SOLE   0 0 8,800
UNIVERSAL ELECTRONICS COM 913483103 252 7,000 SH   SOLE   0 0 7,000
URANIUM ENERGY COM 916896103 29 13,000 SH   SOLE   0 0 13,000
USA EDUCATION INC COM 9039OU102 771 30,950 SH   SOLE   0 0 30,950
VERIZON COMM COM 92343V104 5,169 110,743 SH   SOLE   0 0 110,743
VISA INC COM 92826c839 637 3,335 SH   SOLE   0 0 3,335
VODAFONE PLC COM 92857W209 1,774 50,431 SH   SOLE   0 0 50,431
W.P. CAREY INC. COM 92936U109 1,693 26,161 SH   SOLE   0 0 26,161
WABTEC COM 929740108 370 5,890 SH   SOLE   0 0 5,890
WAL-MART STORES COM 931142103 2,626 35,500 SH   SOLE   0 0 35,500
WALGREEN CO COM 931422109 1,006 18,700 SH   SOLE   0 0 18,700
WASTE MGT. COM 94106L109 281 6,825 SH   SOLE   0 0 6,825
WD 40 CO. COM 929236107 1,299 20,020 SH   SOLE   0 0 20,020
WEATHERFORD INTNL COM h27013103 164 10,700 SH   SOLE   0 0 10,700
WELLS FARGO & COMPANY COM 949746101 209 5,050 SH   SOLE   0 0 5,050
WENDY'S COMPANY COM 95058W100 705 83,100 SH   SOLE   0 0 83,100
WEYERHAEUSER COM 962166104 298 10,400 SH   SOLE   0 0 10,400
WGL HOLDINGS INC. COM 92924F106 342 8,000 SH   SOLE   0 0 8,000
WHEELER REIT COM 963025101 493 115,299 SH   SOLE   40,020 0 75,279
WILLIAMS CO COM 969457100 1,032 28,396 SH   SOLE   0 0 28,396
WINDSTREAM HOLDINGS INC COM 97382A101 286 35,800 SH   SOLE   0 0 35,800
WISCONSIN ENERGY COM 976657106 363 9,000 SH   SOLE   0 0 9,000
XYLEM INC COM 98419m100 380 13,600 SH   SOLE   0 0 13,600
YUM BRANDS COM 895953107 650 9,100 SH   SOLE   0 0 9,100
ZEP INC COM 98944B108 1,455 89,500 SH   SOLE   0 0 89,500
ZOETIS INC COM 98978V103 545 17,500 SH   SOLE   0 0 17,500