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
3M Company COM 88579Y101 701 4,945 SH   SOLE   225 0 4,720
AT&T Inc COM 00206R102 12,910 396,251 SH   SOLE   14,687 0 381,364
Abbott Labs COM 002824100 10,706 266,186 SH   SOLE   8,075 0 257,961
Aberdeen Japan Equity Fund Inc COM 00306J109 158 23,100 SH   SOLE   0 0 23,100
Advanta Corp. COM 007942105 0 10,000 SH   SOLE   0 0 10,000
Alphabet, Inc. COM 02079K107 9,095 14,949 SH   SOLE   463 0 14,480
Altria Group Inc. COM 02209S103 381 6,998 SH   SOLE   257 0 6,741
Annaly Capital Management COM 035710409 12,659 1,282,574 SH   SOLE   42,750 0 1,239,224
Apple Inc. COM 037833100 11,829 107,249 SH   SOLE   2,929 0 104,285
Bank Of America Corp COM 060505104 15,967 1,024,822 SH   SOLE   31,100 0 993,322
Bed Bath & Beyond COM 075896100 5,692 99,825 SH   SOLE   3,325 0 96,450
Boeing COM 097023105 10,744 82,045 SH   SOLE   2,450 0 79,545
CEF Invesco Value Fund COM EGB32P104 0 94,849 SH   SOLE   0 0 94,849
CME Group Inc COM 12572Q105 10,196 109,940 SH   SOLE   2,825 0 107,065
CSX Corp COM 126408103 12,663 470,725 SH   SOLE   14,175 0 456,350
Central Fund* COM 153501101 2,908 274,721 SH   SOLE   2,300 0 272,421
Cisco Sys Inc Com COM 17275R102 13,977 532,438 SH   SOLE   17,450 0 514,738
Coca Cola COM 191216100 1,032 25,716 SH   SOLE   1,400 0 24,316
Colgate Palmolive COM 194162103 419 6,610 SH   SOLE   0 0 6,610
Comcast Corp Cl A COM 20030N101 8,696 152,881 SH   SOLE   4,700 0 148,081
ConocoPhillips COM 20825c104 4,747 98,972 SH   SOLE   1,600 0 97,372
Constellation Brands Inc COM 21036P108 238 1,900 SH   SOLE   0 0 1,900
Core Laboratories NV COM N22717107 6,831 68,425 SH   SOLE   1,800 0 66,625
Costco Wholesale Corp COM 22160k105 8,492 58,740 SH   SOLE   1,600 0 57,115
Denison Mines Corp COM 248356107 6 15,000 SH   SOLE   0 0 15,000
Dick's Sporting Goods COM 253393102 6,656 134,165 SH   SOLE   3,825 0 130,290
Dow Chemical COM 260543103 909 21,450 SH   SOLE   850 0 20,500
Du Pont E.I. De Nemours & Co. COM 263534109 9,663 200,473 SH   SOLE   5,750 0 194,723
EMC Corp Mass Com COM 268648102 10,707 443,171 SH   SOLE   14,400 0 428,571
Eaton Corporation COM G29183103 7,127 138,925 SH   SOLE   4,100 0 134,750
Exxon Mobil Corporation COM 30231g102 12,929 173,893 SH   SOLE   5,350 0 168,468
Fastenal Co. COM 311900104 7,530 205,675 SH   SOLE   6,250 0 199,325
Fifth Third Bancorp COM 316773100 14,376 760,225 SH   SOLE   22,350 0 737,575
Ford Motor COM 345370860 7,940 585,102 SH   SOLE   16,100 0 568,652
General Electric COM 369604103 19,412 769,695 SH   SOLE   24,100 0 745,295
GlaxoSmithKline PLC COM 37733W105 465 12,105 SH   SOLE   700 0 11,405
Goldcorp Inc COM 380956409 129 10,300 SH   SOLE   800 0 9,500
Guggenheim S&P 500 Equal Weigh COM 78355w106 2,917 39,659 SH   SOLE   0 0 39,659
Intel Corp COM 458140100 18,799 623,726 SH   SOLE   18,795 0 604,781
Intl Paper Co Com COM 460146103 9,172 242,710 SH   SOLE   7,775 0 234,935
Japan Smaller Cap Fund Inc COM 47109u104 268 26,350 SH   SOLE   2,475 0 23,875
Johnson & Johnson COM 478160104 17,259 184,880 SH   SOLE   6,051 0 178,779
Keycorp COM 493267108 13,352 1,026,302 SH   SOLE   30,600 0 995,202
Kimberly Clark COM 494368103 9,887 90,670 SH   SOLE   2,675 0 87,945
Lincoln Natl Corp COM 534187109 5,970 125,800 SH   SOLE   4,350 0 121,350
Market Vectors Biotech ETF COM 57060U183 5,446 47,640 SH   SOLE   1,400 0 46,215
McCormick & Co COM 579780206 407 4,950 SH   SOLE   0 0 4,950
Merck & Co COM 58933Y105 13,967 282,790 SH   SOLE   8,725 0 273,940
Microsoft Corp COM 594918104 15,885 358,909 SH   SOLE   11,050 0 347,709
Midcap SPDR Tr Un Sr 1 COM 78467Y107 286 1,150 SH   SOLE   0 0 1,150
Morgan Stanley & Co. COM 617446448 12,857 408,166 SH   SOLE   11,450 0 396,566
Oracle Corp Com COM 68389X105 14,442 399,834 SH   SOLE   11,950 0 387,734
PayPal Holdings Inc COM 70450Y103 7,826 252,135 SH   SOLE   7,350 0 244,685
Paychex Inc COM 704326107 12,742 267,511 SH   SOLE   8,800 0 258,586
Pepsico Inc COM 713448108 9,502 100,759 SH   SOLE   4,700 0 96,059
Pfizer COM 717081103 19,334 615,530 SH   SOLE   19,506 0 595,874
PowerShares QQQ Trust COM 73935A104 537 5,280 SH   SOLE   0 0 5,280
Procter and Gamble COM 742718109 1,838 25,559 SH   SOLE   1,100 0 24,459
Royal Dutch Shell COM 780259206 232 4,898 SH   SOLE   300 0 4,598
Royal Dutch Shell PLC B COM 780259107 604 12,715 SH   SOLE   0 0 12,715
SEACO Ltd. COM g79441104 0 50,656 SH   SOLE   0 0 50,656
SPDR Gold Trust COM 78463V107 472 4,420 SH   SOLE   250 0 4,170
SPDR Tr Unit Ser 1 COM 78462f103 2,201 11,483 SH   SOLE   150 0 11,333
Schlumberger Ltd COM 806857108 5,454 79,075 SH   SOLE   2,150 0 76,875
Spectra Energy Corp COM 847560109 5,752 218,951 SH   SOLE   6,750 0 212,101
Sprott Physical Gold Trust COM 85207h104 138 15,000 SH   SOLE   0 0 15,000
St Jude Medical Inc COM 790849103 5,823 92,290 SH   SOLE   2,675 0 89,565
Sysco Corp COM 871829107 8,796 225,703 SH   SOLE   6,825 0 218,778
Target Corp COM 87612E106 12,906 164,075 SH   SOLE   4,725 0 159,250
Templeton Emerging Markets COM 880191101 166 15,047 SH   SOLE   100 0 14,947
Thomson Reuters Corp Com COM 884903105 11,893 295,417 SH   SOLE   9,050 0 286,292
Travelers Companies Inc COM 89417E109 7,211 72,451 SH   SOLE   2,575 0 69,876
TrustCo Bank Corp NY COM 898349105 161 27,500 SH   SOLE   0 0 27,500
US Bancorp COM 902973304 918 22,396 SH   SOLE   1,700 0 20,696
Unilever NV COM 904784709 391 9,715 SH   SOLE   200 0 9,515
United Parcel Service COM 911312106 13,637 138,182 SH   SOLE   4,175 0 133,907
VF Corp Com COM 918204108 12,104 177,449 SH   SOLE   5,325 0 172,024
Vanguard Emerging Markets COM 922042858 8,442 255,117 SH   SOLE   6,375 0 248,542
Vanguard FTSE All-World ex-US COM 922042775 441 10,348 SH   SOLE   0 0 10,348
Vanguard S&P 500 ETF COM 922908363 1,746 9,934 SH   SOLE   0 0 9,934
Verizon Communications Com COM 92343v104 14,717 338,241 SH   SOLE   10,915 0 327,176
Vodafone COM 92857W308 9,830 309,710 SH   SOLE   7,875 0 301,635
WalMart Stores COM 931142103 11,312 174,457 SH   SOLE   5,700 0 168,707
Walt Disney Co COM 254687106 7,834 76,650 SH   SOLE   2,075 0 74,575
Waste Mgmt Inc Del Com COM 94106L109 12,410 249,144 SH   SOLE   8,275 0 240,719
Wells Fargo & Co COM 949746101 13,230 257,652 SH   SOLE   7,675 0 249,877
Yamana Gold Inc COM 98462Y100 22 13,025 SH   SOLE   0 0 13,025
iShares Comex Gold COM 464285105 258 23,929 SH   SOLE   0 0 23,929
iShares Dow Jones Select Div I COM 464287168 2,963 40,724 SH   SOLE   375 0 40,349
iShares High Dividend Equity F COM 46429B663 2,015 28,956 SH   SOLE   0 0 28,956
iShares MSCI Emerging Mkts Ind COM 464287234 449 13,710 SH   SOLE   0 0 13,710
iShares MSCI Japan COM 464286848 6,641 581,027 SH   SOLE   15,200 0 565,627
Autozone Inc COM 053332102 217 300 SH   SOLE   0 0 300
Daleco Resources Corp COM 23437P208 5 124,670 SH   SOLE   0 0 124,670
Home Depot COM 437076102 289 2,500 SH   SOLE   0 0 2,500
McDonalds Corp COM 580135101 398 4,040 SH   SOLE   0 0 4,040
SBA Communications Corp COM 78388J106 879 8,388 SH   SOLE   0 0 8,388
Thermo Fisher Scientific Inc COM 883556102 245 2,000 SH   SOLE   0 0 2,000