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 2,675 91,900 SH   SOLE   91,900 0 0
ALEXANDRIA REAL ESTATE EQUITIE COM 015271109 3,345 38,250 SH   SOLE   38,250 0 0
AMERICAN CAMPUS COMMUNITIES IN COM 024835100 20,553 545,310 SH   SOLE   545,310 0 0
BRANDYWINE REALTY TRUST SBI COM 105368203 162 12,200 SH   SOLE   12,200 0 0
BRIXMOR PROPERTY GROUP INC COM 11120U105 2,242 96,950 SH   SOLE   96,950 0 0
CAMPUS CREST COMMUNITIES INC COM 13466Y105 1,191 215,000 SH   SOLE   215,000 0 0
CHESAPEAKE LODGING TRUST COM 165240102 1,981 65,000 SH   SOLE   65,000 0 0
CROWN CASTLE INTERNATIONAL COR COM 22822V101 4,818 60,000 SH   SOLE   60,000 0 0
CUBE SMART COM 229663109 2,084 90,000 SH   SOLE   90,000 0 0
DDR CORP COM 23317H102 3,198 206,864 SH   SOLE   206,864 0 0
DIGITAL REALTY TRUST INC COM 253868103 5,595 83,911 SH   SOLE   83,911 0 0
EASTGROUP PROPERTIES SBI COM 277276101 3,093 55,000 SH   SOLE   55,000 0 0
EQUITY RESIDENTIAL COM 29476L107 2,821 40,200 SH   SOLE   40,200 0 0
ESSEX PROPERTY TRUST INC COM 297178105 2,927 13,775 SH   SOLE   13,775 0 0
FEDERAL REALTY INV. TRUST COM 313747206 2,242 17,500 SH   SOLE   17,500 0 0
FIRST INDUSTRIAL REALTY TRUST COM 32054K103 1,498 80,000 SH   SOLE   80,000 0 0
GENERAL GROWTH PROPERTIES COM 370023103 2,951 115,000 SH   SOLE   115,000 0 0
HCP INC COM 40414l109 934 25,600 SH   SOLE   25,600 0 0
HEALTH CARE REIT INC COM 42217K106 3,606 54,950 SH   SOLE   54,950 0 0
HEALTHCARE TRUST OF AMERICA COM 42225P501 1,665 69,500 SH   SOLE   69,500 0 0
HERSHA HOSPITALITY TRUST COM 427825500 1,442 56,250 SH   SOLE   56,250 0 0
HIGHWOODS PROPERTIES INC COM 431284108 21,282 532,714 SH   SOLE   532,714 0 0
HOME PROPERTIES INC COM 437306103 18,732 256,425 SH   SOLE   256,425 0 0
HOSPITALITY PROPERTIES TRUST COM 44106M102 571 19,825 SH   SOLE   19,825 0 0
HUDSON PACIFIC PROPERTIES INC COM 444097109 1,560 55,000 SH   SOLE   55,000 0 0
KIMCO REALTY CORP COM 49446R109 3,772 167,355 SH   SOLE   167,355 0 0
LIBERTY PROPERTY TRUST COM 531172104 2,106 65,360 SH   SOLE   65,360 0 0
MACERICH CO COM 554382101 4,710 63,132 SH   SOLE   63,132 0 0
MEDICAL PROPERTIES TRUST INC COM 58463j304 20,931 1,596,580 SH   SOLE   1,596,580 0 0
MID-AMERICA APARTMENT COMMUNIT COM 59522J103 2,658 36,500 SH   SOLE   36,500 0 0
NATIONAL RETAIL PPTYS INC COM 637417106 2,230 63,700 SH   SOLE   63,700 0 0
OMEGA HEALTHCARE INVESTORS COM 681936100 2,094 61,000 SH   SOLE   61,000 0 0
RLJ LODGING TRUST COM 74965L101 3,192 107,200 SH   SOLE   107,200 0 0
RYMAN HOSPITALITY PROPERTIES COM 78377T107 24,406 459,540 SH   SOLE   459,540 0 0
SIMON PROPERTY GROUP INC COM 828806109 12,522 72,371 SH   SOLE   72,371 0 0
SL GREEN REALTY CORP COM 78440X101 23,931 217,775 SH   SOLE   217,775 0 0
SOVRAN SELF STORAGE INC COM 84610H108 2,347 27,000 SH   SOLE   27,000 0 0
SUMMIT HOTEL PROPERTIES INC COM 866082100 1,301 100,000 SH   SOLE   100,000 0 0
TANGER FACTORY OUTLET CENTERS COM 875465106 1,839 58,000 SH   SOLE   58,000 0 0
TRADE STREET RESIDENTIAL INC COM 89255N203 828 124,354 SH   SOLE   124,354 0 0
UDR INC COM 902653104 3,711 115,864 SH   SOLE   115,864 0 0
VENTAS INC COM 92276F100 2,051 33,033 SH   SOLE   33,033 0 0
VORNADO REALTY TRUST COM 929042109 2,848 30,000 SH   SOLE   30,000 0 0
W P CAREY INC COM 92936U109 5,451 92,478 SH   SOLE   92,478 0 0
WEYERHAEUSER CO COM 962166104 4,884 155,040 SH   SOLE   155,040 0 0
WP GLIMCHER INC COM 92939N102 4,407 325,732 SH   SOLE   325,732 0 0
3M COMPANY COM 88579Y101 10,386 67,308 SH   SOLE   67,308 0 0
A T & T INC COM 00206R102 4,210 118,512 SH   SOLE   118,512 0 0
ABBOTT LABORATORIES COM 002824100 8,396 171,060 SH   SOLE   171,060 0 0
ABBVIE INC COM 00287Y109 16,876 251,171 SH   SOLE   251,171 0 0
ACCENTURE PLC - CL A COM G1151C101 10,322 106,652 SH   SOLE   106,652 0 0
ACTIVISION BLIZZARD INC COM 00507V109 1,917 79,200 SH   SOLE   79,200 0 0
AFFILIATED MANAGERS GROUP INC COM 008252108 32,598 149,120 SH   SOLE   149,120 0 0
AFLAC INC COM 001055102 1,218 19,575 SH   SOLE   19,575 0 0
AGRIUM INC COM 008916108 477 4,500 SH   SOLE   4,500 0 0
AIR PRODUCTS & CHEMICALS INC COM 009158106 12,826 93,739 SH   SOLE   93,739 0 0
AIRGAS INC COM 009363102 2,803 26,500 SH   SOLE   26,500 0 0
ALLERGAN PLC COM G0177J108 3,758 12,385 SH   SOLE   12,385 0 0
ALLSTATE CORPORATION COM 020002101 1,370 21,125 SH   SOLE   21,125 0 0
ALTRIA GROUP INC COM 02209S103 3,490 71,359 SH   SOLE   71,359 0 0
AMERICAN AIRLINES GROUP INC COM 02376R102 4,363 109,250 SH   SOLE   109,250 0 0
AMERICAN ELECTRIC POWER CO COM 025537101 228 4,300 SH   SOLE   4,300 0 0
AMERICAN EXPRESS COM 025816109 1,084 13,950 SH   SOLE   13,950 0 0
AMERICAN FINANCIAL GROUP INC COM 025932104 1,587 24,400 SH   SOLE   24,400 0 0
AMERICAN WATER WORKS CO INC COM 030420103 6,488 133,410 SH   SOLE   133,410 0 0
AMERIGAS PARTNERS LP COM 030975106 677 14,800 SH   SOLE   14,800 0 0
AMERIPRISE FINANCIAL INC COM 03076C106 7,962 63,734 SH   SOLE   63,734 0 0
AMGEN INC COM 031162100 7,403 48,219 SH   SOLE   48,219 0 0
ANADARKO PETROLEUM CORP COM 032511107 437 5,600 SH   SOLE   5,600 0 0
ANIXTER INTERNATIONAL COM 035290105 19,006 291,725 SH   SOLE   291,725 0 0
ANN INC COM 035623107 21,204 439,098 SH   SOLE   439,098 0 0
AON PLC COM G0408V102 251 2,519 SH   SOLE   2,519 0 0
APPLE INC COM 037833100 5,426 43,262 SH   SOLE   43,262 0 0
ARROW ELECTRONICS INC COM 042735100 1,138 20,400 SH   SOLE   20,400 0 0
AVAGO TECHNOLOGIES LTD COM Y0486S104 2,552 19,200 SH   SOLE   19,200 0 0
AVERY DENNISON CORP COM 053611109 1,743 28,600 SH   SOLE   28,600 0 0
AVISTA CORP COM 05379B107 16,339 533,086 SH   SOLE   533,086 0 0
BANK OF AMERICA CORP COM 060505104 285 16,724 SH   SOLE   16,724 0 0
BAR HARBOR BANKSHARES COM 066849100 372 10,500 SH   SOLE   10,500 0 0
BAXTER INT'L COM 071813109 1,701 24,321 SH   SOLE   24,321 0 0
BECTON DICKINSON & CO COM 075887109 6,170 43,557 SH   SOLE   43,557 0 0
BELDEN INC COM 077454106 37,893 466,485 SH   SOLE   466,485 0 0
BLACK HILLS CORP COM 092113109 1,264 28,950 SH   SOLE   28,950 0 0
BLOOMIN' BRANDS INC COM 094235108 20,886 978,290 SH   SOLE   978,290 0 0
BOEING CO COM 097023105 461 3,325 SH   SOLE   3,325 0 0
BRINKER INTERNATIONAL INC COM 109641100 25,859 448,555 SH   SOLE   448,555 0 0
BRISTOL-MYERS SQUIBB COM 110122108 11,702 175,868 SH   SOLE   175,868 0 0
CABELA'S INC COM 126804301 17,713 354,392 SH   SOLE   354,392 0 0
CABOT OIL & GAS CORP COM 127097103 15,001 475,605 SH   SOLE   475,605 0 0
CACI INTERNATIONAL INC - CL A COM 127190304 18,216 225,200 SH   SOLE   225,200 0 0
CAMPBELL SOUP COM 134429109 3,350 70,300 SH   SOLE   70,300 0 0
CAPITAL ONE FINANCIAL CORP VA COM 14040H105 4,017 45,664 SH   SOLE   45,664 0 0
CARDTRONICS INC COM 14161H108 14,143 381,735 SH   SOLE   381,735 0 0
CARNIVAL CORP COM 143658300 3,767 76,265 SH   SOLE   76,265 0 0
CARRIZO OIL & GAS INC COM 144577103 13,695 278,130 SH   SOLE   278,130 0 0
CASEYS GENERAL STORES INC COM 147528103 35,271 368,400 SH   SOLE   368,400 0 0
CATERPILLAR INC COM 149123101 4,290 50,576 SH   SOLE   50,576 0 0
CDW CORP OF DELAWARE COM 12514g108 3,831 111,765 SH   SOLE   111,765 0 0
CECO ENVIRONMENTAL CORP COM 125141101 332 29,317 SH   SOLE   29,317 0 0
CELGENE CORP COM COM 151020104 556 4,800 SH   SOLE   4,800 0 0
CENTRAL FUND OF CANADA COM 153501101 321 27,500 SH   SOLE   27,500 0 0
CENTURYLINK INC COM 156700106 813 27,674 SH   SOLE   27,674 0 0
CF INDUSTRIES HOLDINGS INC COM 125269100 5,787 90,025 SH   SOLE   90,025 0 0
CHEVRON CORP COM 166764100 6,437 66,729 SH   SOLE   66,729 0 0
CHURCH & DWIGHT INC COM 171340102 10,892 134,250 SH   SOLE   134,250 0 0
CIGNA CORPORATION COM 125509109 259 1,600 SH   SOLE   1,600 0 0
CISCO SYSTEMS INC COM 17275R102 1,049 38,206 SH   SOLE   38,206 0 0
COAST DISTRIBUTION SERVICES COM 190345108 47 13,000 SH   SOLE   13,000 0 0
COCA-COLA COM 191216100 1,157 29,502 SH   SOLE   29,502 0 0
COLGATE PALMOLIVE CO COM 194162103 408 6,242 SH   SOLE   6,242 0 0
COMMUNITY BANK SYSTEMS INC COM 203607106 19,136 506,635 SH   SOLE   506,635 0 0
COMPASS MINERALS INTERNATIONAL COM 20451n101 11,313 137,725 SH   SOLE   137,725 0 0
CONAGRA FOODS INC COM 205887102 592 13,546 SH   SOLE   13,546 0 0
CONOCOPHILLIPS COM 20825C104 7,322 119,233 SH   SOLE   119,233 0 0
COOPER TIRE & RUBBER COM 216831107 17,323 512,050 SH   SOLE   512,050 0 0
CORNING INC COM 219350105 248 12,550 SH   SOLE   12,550 0 0
CRANE CO COM 224399105 20,149 343,075 SH   SOLE   343,075 0 0
CSX CORP COM 126408103 4,256 130,357 SH   SOLE   130,357 0 0
CVS HEALTH CORPORATION COM 126650100 10,828 103,244 SH   SOLE   103,244 0 0
D.R. HORTON INC COM 23331A109 3,695 135,055 SH   SOLE   135,055 0 0
DARDEN RESTAURANTS INC COM 237194105 647 9,100 SH   SOLE   9,100 0 0
DEAN FOODS CO COM 242370203 16,861 1,042,710 SH   SOLE   1,042,710 0 0
DEERE & CO COM 244199105 4,718 48,610 SH   SOLE   48,610 0 0
DEVON ENERGY CORP COM 25179M103 447 7,522 SH   SOLE   7,522 0 0
DIAGEO PLC ADR COM 25243Q205 4,229 36,445 SH   SOLE   36,445 0 0
DOMINION RESOURCES INC VA COM 25746U109 3,028 45,282 SH   SOLE   45,282 0 0
DONEGAL GROUP INC CL A COM 257701201 415 27,238 SH   SOLE   27,238 0 0
DOW CHEMICAL CO COM 260543103 9,251 180,799 SH   SOLE   180,799 0 0
DU PONT EI DE NEMOURS COM 263534109 3,542 55,391 SH   SOLE   55,391 0 0
DUKE ENERGY CO COM 26441C204 2,308 32,683 SH   SOLE   32,683 0 0
EAST WEST BANCORP INC COM 27579R104 1,743 38,900 SH   SOLE   38,900 0 0
EATON CORP PLC COM G29183103 12,063 178,734 SH   SOLE   178,734 0 0
EL PASO ELECTRIC CO COM 283677854 15,621 450,681 SH   SOLE   450,681 0 0
ELI LILLY CO COM 532457108 8,693 104,124 SH   SOLE   104,124 0 0
EMERSON ELECTRIC COM 291011104 6,524 117,698 SH   SOLE   117,698 0 0
ENERGIZER HOLDINGS INC COM 29272W109 1,736 13,200 SH   SOLE   13,200 0 0
ENERSYS COM 29275Y102 32,845 467,285 SH   SOLE   467,285 0 0
EXPRESS SCRIPTS HOLDING CO COM 30219G108 5,217 58,662 SH   SOLE   58,662 0 0
EXXON MOBIL CORPORATION COM 30231G102 10,178 122,327 SH   SOLE   122,327 0 0
FAMILY DOLLAR STORES COM 307000109 791 10,040 SH   SOLE   10,040 0 0
FEDEX CORPORATION COM 31428X106 4,075 23,915 SH   SOLE   23,915 0 0
FIRST MIDWEST BANCORP INC COM 320867104 18,003 949,025 SH   SOLE   949,025 0 0
FIRST REPUBLIC BANK/CA COM 33616C100 1,248 19,800 SH   SOLE   19,800 0 0
FISERV INC COM 337738108 3,139 37,898 SH   SOLE   37,898 0 0
FORD MOTOR COMPANY COM 345370860 3,109 207,100 SH   SOLE   207,100 0 0
FREEPORT-MCMORAN INC COM 35671D857 436 23,400 SH   SOLE   23,400 0 0
GENERAC HOLDINGS INC COM 368736104 20,338 511,640 SH   SOLE   511,640 0 0
GENERAL ELECTRIC COM 369604103 12,876 484,594 SH   SOLE   484,594 0 0
GENERAL MILLS INC COM 370334104 583 10,460 SH   SOLE   10,460 0 0
GENUINE PARTS CO COM 372460105 3,488 38,960 SH   SOLE   38,960 0 0
GILEAD SCIENCES INC COM 375558103 3,429 29,290 SH   SOLE   29,290 0 0
GLACIER BANCORP INC COM 37637q105 19,589 665,850 SH   SOLE   665,850 0 0
GLAXOSMITHKLINE PLC ADR COM 37733W105 605 14,530 SH   SOLE   14,530 0 0
GOOGLE INC CL A COM 38259P508 277 513 SH   SOLE   513 0 0
GOOGLE INC CL C COM 38259P706 226 435 SH   SOLE   435 0 0
GREENBRIER COMPANIES INC COM 393657101 815 17,400 SH   SOLE   17,400 0 0
H&R BLOCK INC COM 093671105 308 10,400 SH   SOLE   10,400 0 0
HALLIBURTON CO COM 406216101 3,701 85,925 SH   SOLE   85,925 0 0
HANOVER INSURANCE GROUP INC/TH COM 410867105 4,978 67,249 SH   SOLE   67,249 0 0
HARRIS CORP COM 413875105 2,875 37,375 SH   SOLE   37,375 0 0
HARTFORD FINANCIAL SERVICES GR COM 416515104 407 9,801 SH   SOLE   9,801 0 0
HD SUPPLY HOLDINGS INC COM 40416M105 3,534 100,445 SH   SOLE   100,445 0 0
HELMERICH & PAYNE INC COM 423452101 437 6,200 SH   SOLE   6,200 0 0
HERSHEY FOODS COM 427866108 266 3,000 SH   SOLE   3,000 0 0
HESS CORP COM 42809H107 264 3,950 SH   SOLE   3,950 0 0
HOME DEPOT INC COM 437076102 2,141 19,265 SH   SOLE   19,265 0 0
HONEYWELL INTL INC COM 438516106 10,101 99,056 SH   SOLE   99,056 0 0
HORMEL FOODS CORP COM 440452100 924 16,400 SH   SOLE   16,400 0 0
HUNTINGTON BANCSHARES COM 446150104 3,836 339,150 SH   SOLE   339,150 0 0
IBERIABANK CORP COM 450828108 19,640 287,855 SH   SOLE   287,855 0 0
ICON PLC COM G4705A100 2,100 31,200 SH   SOLE   31,200 0 0
ILLINOIS TOOL WORKS COM 452308109 2,166 23,600 SH   SOLE   23,600 0 0
INGERSOLL-RAND PLC COM G47791101 210 3,116 SH   SOLE   3,116 0 0
INT'L BUSINESS MACHINES CORP COM 459200101 5,761 35,420 SH   SOLE   35,420 0 0
INTEL CORP COM 458140100 3,517 115,619 SH   SOLE   115,619 0 0
J.M. SMUCKER COM COM 832696405 1,164 10,739 SH   SOLE   10,739 0 0
JARDEN CORPORATION COM 471109108 38,577 745,443 SH   SOLE   745,443 0 0
JETBLUE AIRWAYS CORP COM 477143101 27,097 1,305,240 SH   SOLE   1,305,240 0 0
JOHNSON & JOHNSON COM 478160104 11,480 117,791 SH   SOLE   117,791 0 0
JOHNSON CONTROLS COM 478366107 2,410 48,650 SH   SOLE   48,650 0 0
JPMORGAN CHASE & CO. COM 46625H100 9,322 137,579 SH   SOLE   137,579 0 0
KAYNE ANDERSON ENERGY DEVELOPM COM 48660Q102 203 8,500 SH   SOLE   8,500 0 0
KAYNE ANDERSON MLP INVT CO COM 486606106 4,827 157,277 SH   SOLE   157,277 0 0
KEY CORP COM 493267108 4,674 311,200 SH   SOLE   311,200 0 0
KIMBERLY-CLARK CORP COM 494368103 11,573 109,213 SH   SOLE   109,213 0 0
KINDER MORGAN INC COM 49456B101 534 13,920 SH   SOLE   13,920 0 0
KOHLS CORP WISC PV COM 500255104 332 5,300 SH   SOLE   5,300 0 0
KRAFT FOODS GROUP INC COM 50076Q106 1,010 11,859 SH   SOLE   11,859 0 0
L-3 COMMUNICATIONS HLDGS INC COM 502424104 1,308 11,540 SH   SOLE   11,540 0 0
LABORATORY CORPORATION OF AMER COM 50540R409 370 3,056 SH   SOLE   3,056 0 0
LOCKHEED MARTIN CORP COM 539830109 437 2,350 SH   SOLE   2,350 0 0
LOWES COMPANIES INC COM 548661107 406 6,059 SH   SOLE   6,059 0 0
LYONDELL BASELL INDUSTRIES - C COM N53745100 4,851 46,860 SH   SOLE   46,860 0 0
MACY'S INC COM 55616P104 5,820 86,261 SH   SOLE   86,261 0 0
MAGNA INTERNATIONAL INC COM 559222401 6,066 108,145 SH   SOLE   108,145 0 0
MARATHON OIL CORP COM 565849106 479 18,030 SH   SOLE   18,030 0 0
MARATHON PETROLEUM CORP COM 56585A102 825 15,780 SH   SOLE   15,780 0 0
MARRIOTT INTERNATIONAL INC CL COM 571903202 2,083 28,000 SH   SOLE   28,000 0 0
MASTEC INCORPORATED COM 576323109 16,112 810,850 SH   SOLE   810,850 0 0
MB FINANCIAL INC COM 55264u108 19,644 570,375 SH   SOLE   570,375 0 0
MCGRAW-HILL FINANCIAL INC COM 580645109 211 2,100 SH   SOLE   2,100 0 0
MERCK & CO INC/NJ COM 58933Y105 5,400 94,852 SH   SOLE   94,852 0 0
MEREDITH CORP COM 589433101 806 15,450 SH   SOLE   15,450 0 0
METLIFE INC COM 59156R108 6,139 109,649 SH   SOLE   109,649 0 0
MICROSOFT CORP COM 594918104 11,318 256,347 SH   SOLE   256,347 0 0
MITSUBISHI UFJ FINANCIAL GROUP COM 606822104 72 10,000 SH   SOLE   10,000 0 0
MOHAWK INDUSTRIES INC COM 608190104 5,750 30,120 SH   SOLE   30,120 0 0
MONDELEZ INTERNATIONAL INC COM 609207105 1,331 32,354 SH   SOLE   32,354 0 0
MOOG INC CLASS A COM 615394202 28,491 403,100 SH   SOLE   403,100 0 0
MORGAN STANLEY COM 617446448 3,471 89,485 SH   SOLE   89,485 0 0
MYLAN NV COM N59465109 6,472 95,374 SH   SOLE   95,374 0 0
McCORMICK & CO INC NON VTG COM 579780206 2,550 31,500 SH   SOLE   31,500 0 0
McDONALDS CORP COM 580135101 7,481 78,691 SH   SOLE   78,691 0 0
NATIONAL OILWELL VARCO INC COM 637071101 276 5,725 SH   SOLE   5,725 0 0
NETSCOUT SYSTEMS INC COM 64115T104 24,559 669,720 SH   SOLE   669,720 0 0
NEW JERSEY RESOURCES COM 646025106 2,108 76,500 SH   SOLE   76,500 0 0
NEWMONT MINING CORP COM 651639106 218 9,350 SH   SOLE   9,350 0 0
NEXTERA ENERGY INC COM 65339F101 4,268 43,538 SH   SOLE   43,538 0 0
NORFOLK SOUTHERN CORP COM 655844108 5,299 60,661 SH   SOLE   60,661 0 0
NORTHWEST BANCSHARES INC COM 667340103 14,261 1,112,426 SH   SOLE   1,112,426 0 0
NOVARTIS AG COM 66987v109 464 4,718 SH   SOLE   4,718 0 0
NOVO-NORDISK ADR COM 670100205 10,569 193,000 SH   SOLE   193,000 0 0
NXP SEMICONDUCTORS NV ADR COM N6596X109 4,717 48,030 SH   SOLE   48,030 0 0
OCCIDENTAL PETROLEUM CORP COM 674599105 4,418 56,813 SH   SOLE   56,813 0 0
OMNICOM GROUP INC COM 681919106 243 3,500 SH   SOLE   3,500 0 0
ON SEMICONDUCTOR CORPORATION COM 682189105 20,558 1,758,555 SH   SOLE   1,758,555 0 0
ORACLE CORPORATION COM 68389X105 6,513 161,613 SH   SOLE   161,613 0 0
OSHKOSH CORP COM 688239201 15,742 371,450 SH   SOLE   371,450 0 0
PAREXEL INTERNATIONAL COM 699462107 40,214 625,310 SH   SOLE   625,310 0 0
PARKER-HANNIFIN COM 701094104 2,696 23,175 SH   SOLE   23,175 0 0
PAYCHEX INC COM 704326107 948 20,224 SH   SOLE   20,224 0 0
PENTAIR PLC COM G7S00T104 4,312 62,721 SH   SOLE   62,721 0 0
PEPSICO INC COM 713448108 6,925 74,194 SH   SOLE   74,194 0 0
PERKINELMER INC COM 714046109 1,395 26,500 SH   SOLE   26,500 0 0
PFIZER INC COM 717081103 4,021 119,924 SH   SOLE   119,924 0 0
PHILIP MORRIS INTERNATIONAL IN COM 718172109 2,507 31,273 SH   SOLE   31,273 0 0
PHILLIPS 66 COM 718546104 9,272 115,099 SH   SOLE   115,099 0 0
PIEDMONT NATURAL GAS COM 720186105 4,194 118,786 SH   SOLE   118,786 0 0
PNC FINANCIAL SERVICES GROUP COM 693475105 8,762 91,605 SH   SOLE   91,605 0 0
POLYONE CORP COM 73179P106 34,257 874,565 SH   SOLE   874,565 0 0
PORTLAND GENERAL ELECTRIC CO COM 736508847 18,206 549,025 SH   SOLE   549,025 0 0
PPG INDUSTRIES INC COM 693506107 10,001 87,180 SH   SOLE   87,180 0 0
PPL CORP COM 69351T106 855 29,025 SH   SOLE   29,025 0 0
PRAXAIR INC COM 74005P104 787 6,585 SH   SOLE   6,585 0 0
PROCTER & GAMBLE COM 742718109 4,930 63,016 SH   SOLE   63,016 0 0
PRUDENTIAL FINANCIAL COM 744320102 3,688 42,141 SH   SOLE   42,141 0 0
PTC INC COM 69370C100 29,498 719,105 SH   SOLE   719,105 0 0
PUBLIC SERVICE ENTERPRISE INC COM 744573106 416 10,600 SH   SOLE   10,600 0 0
PULTEGROUP INC COM 745867101 806 40,000 SH   SOLE   40,000 0 0
QORVO INC COM 74736K101 32,194 401,067 SH   SOLE   401,067 0 0
QUALCOMM INC COM 747525103 6,854 109,437 SH   SOLE   109,437 0 0
QUEST DIAGNOSTICS COM 74834L100 580 7,998 SH   SOLE   7,998 0 0
RAYTHEON COM 755111507 2,927 30,594 SH   SOLE   30,594 0 0
RGC RESOURCES COM 74955l103 702 35,116 SH   SOLE   35,116 0 0
ROYAL CARIBBEAN CRUISES LTD COM V7780T103 1,259 15,996 SH   SOLE   15,996 0 0
ROYAL DUTCH SHELL PLC COM 780259206 641 11,235 SH   SOLE   11,235 0 0
RPM INC COM 749685103 8,630 176,233 SH   SOLE   176,233 0 0
SCHLUMBERGER LTD COM 806857108 3,717 43,124 SH   SOLE   43,124 0 0
SELECTIVE INSURANCE GROUP INC COM 816300107 16,817 599,525 SH   SOLE   599,525 0 0
SIGNATURE BANK COM 82669g104 34,555 236,050 SH   SOLE   236,050 0 0
SILGAN HOLDINGS INC COM 827048109 24,983 473,525 SH   SOLE   473,525 0 0
SKYWORKS SOLUTIONS INC COM 83088M102 7,518 72,215 SH   SOLE   72,215 0 0
SOLERA HOLDINGS INC COM 83421A104 12,086 271,225 SH   SOLE   271,225 0 0
SOUTHERN CO COM 842587107 222 5,300 SH   SOLE   5,300 0 0
SOUTHWEST GAS CORP COM 844895102 19,118 359,285 SH   SOLE   359,285 0 0
STANLEY BLACK DECKER INC COM 854502101 4,904 46,594 SH   SOLE   46,594 0 0
STARWOOD HOTELS RESORTS WORLDW COM 85590A401 1,460 18,000 SH   SOLE   18,000 0 0
STARZ CLASS A COM 85571Q102 28,057 627,400 SH   SOLE   627,400 0 0
SUPERIOR ENERGY SERVICES COM 868157108 795 37,800 SH   SOLE   37,800 0 0
SVB FINANCIAL GROUP COM 78486q101 35,916 249,450 SH   SOLE   249,450 0 0
SYSCO CORP COM 871829107 797 22,064 SH   SOLE   22,064 0 0
TAKE-TWO INTERACTIVE SOFTWARE COM 874054109 19,812 718,600 SH   SOLE   718,600 0 0
TALMER BANCORP INC CLASS A COM 87482X101 6,077 362,800 SH   SOLE   362,800 0 0
TARGET CORP COM 87612E106 2,097 25,690 SH   SOLE   25,690 0 0
TE CONNECTIVITY LTD COM H84989104 3,133 48,720 SH   SOLE   48,720 0 0
TELEFLEX INC COM 879369106 230 1,700 SH   SOLE   1,700 0 0
THE TRAVELERS COMPANIES INC COM 89417E109 6,234 64,491 SH   SOLE   64,491 0 0
THERMO FISHER SCIENTIFIC INC COM 883556102 4,921 37,925 SH   SOLE   37,925 0 0
THOR INDUSTRIES INC COM 885160101 19,853 352,750 SH   SOLE   352,750 0 0
TORCHMARK CORP COM 891027104 3,222 55,337 SH   SOLE   55,337 0 0
TORONTO-DOMINION BANK COM 891160509 3,662 86,156 SH   SOLE   86,156 0 0
TORTOISE ENERGY INFRASTRUCTURE COM 89147L100 471 12,750 SH   SOLE   12,750 0 0
TOTAL SA SPON ADR COM 89151E109 3,233 65,750 SH   SOLE   65,750 0 0
TRINITY INDUSTRIES COM 896522109 16,327 617,730 SH   SOLE   617,730 0 0
TYCO INTERNATIONAL PLC COM G91442106 3,535 91,866 SH   SOLE   91,866 0 0
U.S. BANCORP COM 902973304 3,468 79,905 SH   SOLE   79,905 0 0
UGI CORP COM 902681105 3,708 107,625 SH   SOLE   107,625 0 0
UMPQUA HOLDINGS CORP COM 904214103 18,790 1,044,446 SH   SOLE   1,044,446 0 0
UNION PACIFIC CORP COM 907818108 4,793 50,255 SH   SOLE   50,255 0 0
UNITED BANKSHARES COM 909907107 22,276 553,725 SH   SOLE   553,725 0 0
UNITED PARCEL SERVICE INC COM 911312106 20,272 209,179 SH   SOLE   209,179 0 0
UNITED RENTALS COM 911363109 26,566 303,197 SH   SOLE   303,197 0 0
UNITED TECHNOLOGIES CORP COM 913017109 12,259 110,514 SH   SOLE   110,514 0 0
V F CORP COM 918204108 8,273 118,633 SH   SOLE   118,633 0 0
VALERO ENERGY CORP COM 91913Y100 203 3,250 SH   SOLE   3,250 0 0
VERIZON COMMUNICATIONS COM 92343V104 8,659 185,781 SH   SOLE   185,781 0 0
WAL-MART STORES COM 931142103 211 2,975 SH   SOLE   2,975 0 0
WALT DISNEY COMPANY COM 254687106 2,815 24,664 SH   SOLE   24,664 0 0
WASHINGTON TRUST BANCORP INC COM 940610108 228 5,780 SH   SOLE   5,780 0 0
WASTE MANAGEMENT INC COM 94106L109 9,264 199,876 SH   SOLE   199,876 0 0
WD-40 CO COM 929236107 5,304 60,850 SH   SOLE   60,850 0 0
WEBSTER FINANCIAL CORP COM 947890109 26,311 665,255 SH   SOLE   665,255 0 0
WELLS FARGO & CO COM 949746101 1,314 23,372 SH   SOLE   23,372 0 0
WESCO INTERNATIONAL INC COM 95082P105 982 14,300 SH   SOLE   14,300 0 0
WEST PHARMACEUTICAL SERVICES COM 955306105 40,824 702,900 SH   SOLE   702,900 0 0
WESTLAKE CHEMICAL CORP COM 960413102 1,289 18,800 SH   SOLE   18,800 0 0
WGL HOLDINGS COM 92924F106 1,075 19,800 SH   SOLE   19,800 0 0
WHIRLPOOL CORP COM 963320106 5,720 33,055 SH   SOLE   33,055 0 0
WINTRUST FINANCIAL CORP COM 97650W108 21,994 412,025 SH   SOLE   412,025 0 0
WORTHINGTON INDUSTRIES INC COM 981811102 15,083 501,765 SH   SOLE   501,765 0 0
ZIMMER BIOMET HOLDINGS INC COM 98956P102 4,561 41,760 SH   SOLE   41,760 0 0
ISHARES US PREFERRED STOCK E COM 464288687 862 22,000 SH   SOLE   22,000 0 0
VANGUARD S&P 500 ETF COM 922908363 274 1,453 SH   SOLE   1,453 0 0
VANGUARD TOTAL STOCK MKT INDEX COM 922908769 610 5,700 SH   SOLE   5,700 0 0
ISHARES CHINA LARGE CAP ETF COM 464287184 424 9,200 SH   SOLE   9,200 0 0
ISHARES CORE MSCI EAFE ETF COM 46432f842 233 4,000 SH   SOLE   4,000 0 0
ISHARES MSCI EAFE ETF COM 464287465 1,077 16,964 SH   SOLE   16,964 0 0
ISHARES MSCI EMERGING MKTS FD COM 464287234 2,333 58,875 SH   SOLE   58,875 0 0
ISHARES MSCI JAPAN INDEX FD COM 464286848 334 26,045 SH   SOLE   26,045 0 0
ISHARES MSCI PACIFIC EX JAPAN COM 464286665 5,173 119,198 SH   SOLE   119,198 0 0
VANGUARD FTSE EMERGING MARKETS COM 922042858 2,884 70,553 SH   SOLE   70,553 0 0
VANGUARD TOTAL INTL STOCK ETF COM 921909768 393 7,800 SH   SOLE   7,800 0 0
DNP SELECT INCOME FUND INC COM 23325P104 333 32,900 SH   SOLE   2,900 0 0
BUCKEYE PARTNERS L P UNIT LTD COM 118230101 543 7,350 SH   SOLE   7,350 0 0
ENERGY TRANSFER PARTNERS LP COM 29273R109 417 7,984 SH   SOLE   7,984 0 0
MAGELLAN MIDSTREAM PARTNERS LL COM 559080106 205 2,800 SH   SOLE   2,800 0 0
TARGA RESOURCES PARTNERS LP COM 87611X105 220 5,700 SH   SOLE   5,700 0 0