Roosevelt Investment 13F-HR Quarterly holdings report by institutional manager

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

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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
CLEARWIRE COMM LLC 144A	CONVERTIBLE BONDS	18538TAG4	330	300,000	PRN		SOLE	0	0	0	300,000
INTEL CORP	CONVERTIBLE BONDS	458140AD2	816	750,000	PRN		SOLE	0	0	0	750,000
OMNICARE INC 3.25%35 CVT PUT DUE 12	CONVERTIBLE BONDS	681904al2	1,907	1,853,000	PRN		SOLE	0	0	0	1,853,000
IPATH S&P 500 VIX S/T FUTURES ETN	ETF	06740C188	16,098	777,289	SH		SOLE	0	294,424	0	334,321
ISHARES MSCI CHINA INDEX FUND	ETF	46429B671	11,626	261,364	SH		SOLE	0	39,545	0	41,949
Ishares Inc MSCI Austria Investable	ETF	464286202	1,307	77,117	SH		SOLE	0	11,955	0	15,799
Ishares Inc MSCI Brazil Free Index	ETF	464286400	688	15,682	SH		SOLE	0	1,568	0	14,114
Ishares Inc MSCI France Index Fd	ETF	464286707	5,640	242,741	SH		SOLE	0	37,829	0	49,819
Ishares Inc MSCI Italy Index Fd	ETF	464286855	2,567	217,530	SH		SOLE	0	33,208	0	44,115
Ishares Inc MSCI Japan Index Fd	ETF	464286848	9,480	868,985	SH		SOLE	0	134,863	0	178,027
Ishares Inc MSCI South Korea Indx F	ETF	464286772	8,997	154,402	SH		SOLE	0	23,514	0	25,118
Ishares Inc MSCI Spain Index Fund	ETF	464286764	3,834	136,227	SH		SOLE	0	20,840	0	27,562
Ishares Inc MSCI Switzerland Index	ETF	464286749	1,465	50,230	SH		SOLE	0	7,747	0	10,236
Ishares Inc MSCI Thailand Index Fun	ETF	464286624	3,483	39,182	SH		SOLE	0	5,981	0	5,930
Ishares Inc MSCI Turkey Index Fund	ETF	464286715	6,033	87,870	SH		SOLE	0	13,207	0	16,224
Ishares Inc MSCI United Kingdom Ind	ETF	464286699	7,530	415,790	SH		SOLE	0	64,863	0	85,340
Ishares Inc Taiwan Index Fd	ETF	464286731	522	39,273	SH		SOLE	0	3,927	0	35,346
Ishares MSCI Belgium Investable Mar	ETF	464286301	930	66,297	SH		SOLE	0	10,134	0	13,429
Ishares MSCI Germany Index Fund	ETF	464286806	5,545	226,031	SH		SOLE	0	35,262	0	46,407
Ishares MSCI Hong Kong Index Fund	ETF	464286871	1,267	65,224	SH		SOLE	0	9,893	0	14,185
Ishares Trust MSCI Poland Investabl	ETF	46429B606	5,196	204,352	SH		SOLE	0	31,184	0	34,636
Market Vectors Egypt Index	ETF	57060U548	190	20,021	SH		SOLE	0	2,002	0	18,019
PROSHARES ULTRASHORT MSCI EMERGING	ETF	74347X575	42,609	1,636,279	SH		SOLE	0	590,326	0	711,339
PROSHS ULTRASHORT 20+ YEAR TREASURY	ETF	74347B201	28,502	393,517	SH		SOLE	0	138,678	0	176,736
WISDOMTREE INDIA EARNINGS	ETF	97717W422	184	11,382	SH		SOLE	0	1,138	0	10,244
WISDOMTREE JAPAN HEDGED EQUITY FUND	ETF	97717W851	74,442	1,632,138	SH		SOLE	0	573,841	0	737,737
AEGON NV 6.375% PFD	PREFERRED STOCK	007924301	799	32,400	SH		SOLE	0	3,240	0	29,160
AEGON NV PFD PERP 7.25%	PREFERRED STOCK	N00927348	1,852	73,750	SH		SOLE	0	7,375	0	66,375
AXIS CAPITAL HLDGS LTD PFD 6.875% S	PREFERRED STOCK	BMG0692U3	1,793	68,575	SH		SOLE	0	6,858	0	61,718
BAC CAP TR VIII 6.00%35 TR PFD	PREFERRED STOCK	05518T209	1,293	51,600	SH		SOLE	0	5,160	0	46,440
BB&T CORPORATION PFD 5.625% SER E	PREFERRED STOCK	054937404	724	30,050	SH		SOLE	0	3,005	0	27,045
CAPITAL ONE FINANCIAL CO PFD 6.00%	PREFERRED STOCK	14040H402	937	38,030	SH		SOLE	0	3,803	0	34,227
CITIGROUP CAPITAL XIII PFD 7.875%	PREFERRED STOCK	173080201	571	20,475	SH		SOLE	0	2,048	0	18,428
COMCAST CORP PFD 5.0% 12/15/61 SERI	PREFERRED STOCK	20030N606	349	14,300	SH		SOLE	0	1,430	0	12,870
DEUTSCHE BANK 6.625% PFD CAPITAL FN	PREFERRED STOCK	25153Y206	4,389	175,330	SH		SOLE	0	17,533	0	157,797
DILLARDS CAP TR I 7.5%38 CAP SECS D	PREFERRED STOCK	25406P200	341	13,240	SH		SOLE	0	1,324	0	11,916
DISCOVER FIN SVS 6.50% SER B	PREFERRED STOCK	254709207	2,898	115,460	SH		SOLE	0	11,546	0	103,914
ENTERGY MISSISSIPPI 2051 1ST MTG BN	PREFERRED STOCK	29364N835	1,240	49,145	SH		SOLE	0	4,915	0	44,231
FARMER MAC PFD 5.875% SERIES	PREFERRED STOCK	313148801	689	29,005	SH		SOLE	0	2,901	0	26,105
GOLDMAN SACHS 6.125%60 SENIOR NT DU	PREFERRED STOCK	38145X111	2,938	115,460	SH		SOLE	0	11,546	0	103,914
GOLDMAN SACHS GROUP PERPETUAL 5.95%	PREFERRED STOCK	38145G209	221	9,000	SH		SOLE	0	900	0	8,100
HILTON HOTELS PFD 8%	PREFERRED STOCK	432848307	288	11,682	SH		SOLE	0	1,168	0	10,514
HSBC HLDGS PLC 8% PFD E PERPETUAL S	PREFERRED STOCK	404280802	2,207	81,429	SH		SOLE	0	8,143	0	73,286
HSBC HOLDINGS 6.20%	PREFERRED STOCK	404280604	351	14,115	SH		SOLE	0	1,412	0	12,704
HSBC USA INC SERIES G ADJ RATE	PREFERRED STOCK	40428H888	1,065	44,325	SH		SOLE	0	4,433	0	39,893
ING GROUP 6.125% PFD.	PREFERRED STOCK	456837509	223	9,335	SH		SOLE	0	934	0	8,402
JP MORGAN CHASE & CO 8.625% PFD SER	PREFERRED STOCK	46625H621	425	16,750	SH		SOLE	0	1,675	0	15,075
JP MORGAN CHASE 6.70%40 GTD CAP SEC	PREFERRED STOCK	48125E207	2,957	116,585	SH		SOLE	0	11,659	0	104,927
KIMCO REALTY CORP 6.00% PFD SERIES	PREFERRED STOCK	49446R794	2,572	103,325	SH		SOLE	0	10,333	0	92,993
M S CAP TRUST VI 6.60%46 CAP SECS D	PREFERRED STOCK	617461207	240	9,500	SH		SOLE	0	950	0	8,550
METLIFE 6.50% SER B	PREFERRED STOCK	59156R603	588	23,250	SH		SOLE	0	2,325	0	20,925
MORGAN STANLEY CAP 5.75%	PREFERRED STOCK	617466206	339	13,850	SH		SOLE	0	1,385	0	12,465
NEXTERA ENERGY CAPITAL 5.7%	PREFERRED STOCK	65339K605	2,448	101,040	SH		SOLE	0	10,104	0	90,936
NEXTERA ENERGY INC 2013 CORP UNIT 6	PREFERRED STOCK	65339F507	1,472	24,230	SH		SOLE	0	2,423	0	21,807
PARTNERRE LTD 7.25% PFD E	PREFERRED STOCK	G68603508	331	12,200	SH		SOLE	0	1,220	0	10,980
PNC FINANCIAL SERVICES 6.125% SERIE	PREFERRED STOCK	693475857	948	35,250	SH		SOLE	0	3,525	0	31,725
PPL CORP 8.75% CONVERTIBLE PFD	PREFERRED STOCK	69351T114	2,571	47,520	SH		SOLE	0	4,752	0	42,768
PRUDENTIAL FIN 5.750% 12/15/12 SER	PREFERRED STOCK	744320607	222	9,100	SH		SOLE	0	910	0	8,190
PUBLIC STORAGE 6.5% PFD PERP SERIES	PREFERRED STOCK	74460D141	2,201	85,621	SH		SOLE	0	8,562	0	77,059
PUBLIC STORAGE PFD R 6.35%	PREFERRED STOCK	74460D125	2,350	91,975	SH		SOLE	0	9,198	0	82,778
QWEST CORP PFD 7.375%	PREFERRED STOCK	74913G204	2,338	88,375	SH		SOLE	0	8,838	0	79,538
REINSURANCE GROUP OF AMERICA 6.2% P	PREFERRED STOCK	759351703	577	22,175	SH		SOLE	0	2,218	0	19,958
SIMON PPTY GP 8.375% SER J PFD	PREFERRED STOCK	828806885	930	13,840	SH		SOLE	0	1,384	0	12,456
SLM CORP 6.97% PFD SERIES A 12/31/4	PREFERRED STOCK	78442P205	675	13,633	SH		SOLE	0	1,363	0	12,270
STANLEY BLACK & DECKER I PFD 5.75%	PREFERRED STOCK	854502705	5,331	217,935	SH		SOLE	0	21,794	0	196,142
STATE STREET CORP 5.25% SERIES C	PREFERRED STOCK	857477509	681	27,225	SH		SOLE	0	2,723	0	24,503
TEXAS CAPITAL BK 6.50% 9/1/42 SER	PREFERRED STOCK	882228307	708	29,035	SH		SOLE	0	2,904	0	26,132
US BANCORP PFD 6% SER G	PREFERRED STOCK	902973817	3,196	116,600	SH		SOLE	0	11,660	0	104,940
US BANCORP PFD SERIES F 6.50%	PREFERRED STOCK	902973833	2,550	90,745	SH		SOLE	0	9,075	0	81,671
VORNADO REALTY TRUST PFD 6.875% SER	PREFERRED STOCK	929042869	2,398	92,950	SH		SOLE	0	9,295	0	83,655
VORNADO RLTY LP 7.875%39 PINES DUE	PREFERRED STOCK	929043602	248	9,385	SH		SOLE	0	939	0	8,447
WELLS FARGO & CO NEW DEP SHS REPSTG	PREFERRED STOCK	949746747	728	31,115	SH		SOLE	0	3,112	0	28,004
BP PLC Sponsored ADR	AMERICAN DEPOSITORY	055622104	319	7,644	SH		SOLE	0	764	0	6,880
Banco Macro Sa Sponsored ADR Repres	AMERICAN DEPOSITORY	05961W105	215	15,000	SH		SOLE	0	1,500	0	13,500
CHICAGO BRIDGE & IRON F N Y REGISTR	AMERICAN DEPOSITORY	167250109	46,253	775,271	SH		SOLE	0	271,683	0	349,559
DIAGEO PLC NEW ADR	AMERICAN DEPOSITORY	25243Q205	529	4,603	SH		SOLE	0	460	0	4,143
Gazprom O A O Sponsored ADR	AMERICAN DEPOSITORY	368287207	92	13,776	SH		SOLE	0	1,378	0	12,398
Glaxosmithkline PLC Sponsored ADR	AMERICAN DEPOSITORY	37733W105	281	5,616	SH		SOLE	0	562	0	5,055
NOMURA HLDGS INC SPONSORED ADR	AMERICAN DEPOSITORY	65535H208	40,659	5,464,879	SH		SOLE	0	1,998,243	0	2,355,795
NOVO-NORDISK A-S ADR	AMERICAN DEPOSITORY	670100205	10,562	68,158	SH		SOLE	0	6,816	0	61,342
Nestle S A Spnsd ADR Repsting Reg S	AMERICAN DEPOSITORY	641069406	789	11,996	SH		SOLE	0	1,200	0	10,796
PETROBRAS ENERGIA ADR	AMERICAN DEPOSITORY	71646J109	144	39,642	SH		SOLE	0	3,964	0	35,678
REED ELSEVIER ADR F SPONS	AMERICAN DEPOSITORY	758205207	681	14,931	SH		SOLE	0	1,493	0	13,438
Telecom Argentina Stet- France Tele	AMERICAN DEPOSITORY	879273209	265	17,800	SH		SOLE	0	1,780	0	16,020
YPF SOCIEDAD	AMERICAN DEPOSITORY	984245100	313	21,200	SH		SOLE	0	2,120	0	19,080
3M COMPANY	COMMON STOCK	88579Y101	1,018	9,306	SH		SOLE	0	931	0	8,375
A T & T INC NEW	COMMON STOCK	00206R102	1,372	38,760	SH		SOLE	0	3,876	0	34,884
ABBOTT LABORATORIES	COMMON STOCK	002824100	445	12,750	SH		SOLE	0	1,275	0	11,475
ABBVIE INC	COMMON STOCK	00287Y109	219	5,300	SH		SOLE	0	530	0	4,770
ACCENTURE LTD - CL A	COMMON STOCK	G1151C101	877	12,188	SH		SOLE	0	1,219	0	10,969
AETNA US HEALTHCARE INC COM	COMMON STOCK	00817Y108	4,278	67,332	SH		SOLE	0	6,733	0	60,599
ALASKA AIR GROUP INC	COMMON STOCK	011659109	518	9,959	SH		SOLE	0	996	0	8,963
ALEXION PHARMACEUTICAL	COMMON STOCK	015351109	1,232	13,359	SH		SOLE	0	1,336	0	12,023
ALLIANCE RESOURCE PARTNERS L P UNIT	COMMON STOCK	01877R108	283	4,000	SH		SOLE	0	400	0	3,600
ALTRIA GROUP INC	COMMON STOCK	02209S103	971	27,762	SH		SOLE	0	2,776	0	24,986
AMERICAN CAPITAL STRATEGIES LTD	COMMON STOCK	02503Y103	156	12,334	SH		SOLE	0	1,233	0	11,100
AMERICAN EXPRESS COMPANY	COMMON STOCK	025816109	363	4,857	SH		SOLE	0	486	0	4,371
AMERICAN FINL GROUP INC OHIO	COMMON STOCK	025932104	654	13,373	SH		SOLE	0	1,337	0	12,036
AMERICAN INTL GROUP COM	COMMON STOCK	026874784	38,309	857,026	SH		SOLE	0	308,531	0	373,545
AMERISOURCEBERGEN CORP COM	COMMON STOCK	03073E105	1,122	20,096	SH		SOLE	0	2,010	0	18,086
ANADARKO PETROLEUM CORP	COMMON STOCK	032511107	289	3,363	SH		SOLE	0	336	0	3,027
APPLE INC	COMMON STOCK	037833100	11,565	29,165	SH		SOLE	0	2,916	0	26,248
ARCHER-DANIELS-MIDLAND CO	COMMON STOCK	039483102	45,844	1,351,923	SH		SOLE	0	489,654	0	585,082
BANK OF AMERICA CORP	COMMON STOCK	060505104	468	36,369	SH		SOLE	0	3,637	0	32,732
BEAM, INC.	COMMON STOCK	073730103	27,566	436,790	SH		SOLE	0	147,896	0	196,971
BERKSHIRE HATHAWAY CL A	COMMON STOCK	084670108	1,180	7	SH		SOLE	0	1	0	6
BERKSHIRE HATHAWAY CL B	COMMON STOCK	084670702	6,011	53,710	SH		SOLE	0	5,371	0	48,339
BIOGEN IDEC INC	COMMON STOCK	09062X103	50,805	236,084	SH		SOLE	0	77,318	0	117,000
BLACKSTONE GROUP LP	COMMON STOCK	09253U108	1,093	51,900	SH		SOLE	0	5,190	0	46,710
BOSTON BEER CO INC CL A CLASS A	COMMON STOCK	100557107	442	2,592	SH		SOLE	0	259	0	2,333
BRISTOL-MYERS SQUIBB CO	COMMON STOCK	110122108	9,836	220,088	SH		SOLE	0	22,009	0	198,079
BROADCOM CORP CL A	COMMON STOCK	111320107	51,219	1,515,583	SH		SOLE	0	538,179	0	675,449
C I G N A CORP	COMMON STOCK	125509109	639	8,821	SH		SOLE	0	882	0	7,939
CABOT OIL & GAS CORP COM	COMMON STOCK	127097103	5,887	82,888	SH		SOLE	0	8,289	0	74,599
CAPSTONE TURBINE CORP COM	COMMON STOCK	14067D102	23	20,000	SH		SOLE	0	2,000	0	18,000
CARDINAL HEALTH INC	COMMON STOCK	14149Y108	382	8,100	SH		SOLE	0	810	0	7,290
CELGENE CORP	COMMON STOCK	151020104	46,422	396,837	SH		SOLE	0	142,396	0	172,869
CENTERPOINT ENERGY INC COM	COMMON STOCK	15189T107	1,059	45,100	SH		SOLE	0	4,510	0	40,590
CF INDUSTRUES HOLDINGS, INC	COMMON STOCK	125269100	454	2,648	SH		SOLE	0	265	0	2,383
CHEMBIO DIAGNOSTICS INC	COMMON STOCK	163572209	94	18,750	SH		SOLE	0	1,875	0	16,875
CHENIERE ENERGY INC	COMMON STOCK	16411R208	2,031	73,150	SH		SOLE	0	7,315	0	65,835
CHEVRON CORPORATION	COMMON STOCK	166764100	771	6,516	SH		SOLE	0	652	0	5,865
CHURCH & DWIGHT CO INC	COMMON STOCK	171340102	1,230	19,930	SH		SOLE	0	1,993	0	17,937
CISCO SYSTEMS INC	COMMON STOCK	17275R102	1,126	46,290	SH		SOLE	0	4,629	0	41,661
CITIGROUP INC	COMMON STOCK	172967424	785	16,361	SH		SOLE	0	1,636	0	14,725
CLEAN HARBORS INC	COMMON STOCK	184496107	3,336	66,014	SH		SOLE	0	4,057	0	41,344
CONAGRA FOODS INC	COMMON STOCK	205887102	2,655	76,000	SH		SOLE	0	7,600	0	68,400
CONSUMER PORTFOLIO	COMMON STOCK	210502100	88	12,000	SH		SOLE	0	1,200	0	10,800
COSTCO WHSL CORP	COMMON STOCK	22160K105	616	5,570	SH		SOLE	0	557	0	5,013
CREE INC	COMMON STOCK	225447101	49,676	778,254	SH		SOLE	0	280,522	0	338,910
DANAHER CORP DEL COM	COMMON STOCK	235851102	458	7,236	SH		SOLE	0	724	0	6,512
DELTA AIR LINES INC NEW	COMMON STOCK	247361702	211	11,274	SH		SOLE	0	1,127	0	10,147
DISCOVER FINANCIAL SVCS	COMMON STOCK	254709108	69,049	1,449,398	SH		SOLE	0	471,298	0	723,838
DOW CHEMICAL COMPANY	COMMON STOCK	260543103	1,552	48,250	SH		SOLE	0	4,825	0	43,425
DUKE ENERGY CORP NEW	COMMON STOCK	26441C204	1,615	23,925	SH		SOLE	0	2,392	0	21,532
E O G RESOURCES INC	COMMON STOCK	26875P101	41,927	318,402	SH		SOLE	0	103,396	0	159,030
EASTMAN KODAK CO	COMMON STOCK	277461109	3	27,000	SH		SOLE	0	2,700	0	24,300
EBAY INC	COMMON STOCK	278642103	49,700	960,948	SH		SOLE	0	321,178	0	464,083
ELI LILLY & CO	COMMON STOCK	532457108	51,377	1,045,941	SH		SOLE	0	366,148	0	481,150
ENERGY XXI LTD	COMMON STOCK	G10082140	25,589	1,153,949	SH		SOLE	0	412,195	0	509,987
ENTERGY CORP NEW COM	COMMON STOCK	29364G103	1,589	22,800	SH		SOLE	0	2,280	0	20,520
ENTERPRISE PRD PRTNRS LP	COMMON STOCK	293792107	9,194	147,933	SH		SOLE	0	14,793	0	133,140
ETFS PHYS PALLADIUM ETF SHARES	COMMON STOCK	26923A106	3,343	51,707	SH		SOLE	0	5,171	0	46,536
EXXON MOBIL CORPORATION	COMMON STOCK	30231G102	1,789	19,804	SH		SOLE	0	1,980	0	17,824
FACEBOOK INC	COMMON STOCK	30303M102	46,599	1,872,933	SH		SOLE	0	672,187	0	822,307
FLUOR CORP NEW	COMMON STOCK	343412102	647	10,906	SH		SOLE	0	1,091	0	9,815
FREEPORT MCMORAN COPPER A'	COMMON STOCK	35671D857	1,555	56,323	SH		SOLE	0	5,632	0	50,691
FRONTIER COMMUNICATIONS	COMMON STOCK	35906A108	42	10,489	SH		SOLE	0	1,049	0	9,440
GALLAGHER ARTHUR J & CO	COMMON STOCK	363576109	1,267	29,000	SH		SOLE	0	2,900	0	26,100
GENERAL ELECTRIC COMPANY	COMMON STOCK	369604103	10,853	467,994	SH		SOLE	0	46,799	0	421,194
GETTY REALTY CORP NEW	COMMON STOCK	374297109	856	41,450	SH		SOLE	0	4,145	0	37,305
GNC HOLDINGS INC	COMMON STOCK	36191G107	40,649	919,449	SH		SOLE	0	333,287	0	409,583
GOOGLE INC CLASS A	COMMON STOCK	38259P508	5,819	6,610	SH		SOLE	0	661	0	5,949
HARTE-HANKS INC COM	COMMON STOCK	416196103	556	64,668	SH		SOLE	0	6,467	0	58,201
HASBRO INC	COMMON STOCK	418056107	982	21,900	SH		SOLE	0	2,190	0	19,710
HAWAIIAN ELEC INDS COM	COMMON STOCK	419870100	615	24,291	SH		SOLE	0	2,429	0	21,862
HERSHEY COMPANY	COMMON STOCK	427866108	1,527	17,100	SH		SOLE	0	1,710	0	15,390
HERTZ GLOBAL HOLDINGS INC	COMMON STOCK	42805T105	80,327	3,239,004	SH		SOLE	0	1,024,334	0	1,666,913
HOLLY ENERGY PARTNERS	COMMON STOCK	435763107	1,291	33,942	SH		SOLE	0	3,394	0	30,548
HOLLYFRONTIER CORP COM	COMMON STOCK	436106108	20,494	479,058	SH		SOLE	0	163,664	0	222,699
HOME DEPOT INC	COMMON STOCK	437076102	75,757	977,889	SH		SOLE	0	319,469	0	483,906
HUGOTON ROYALTY TRUST TEXAS UNIT BE	COMMON STOCK	444717102	455	52,800	SH		SOLE	0	5,280	0	47,520
HYPERDYNAMICS CORP	COMMON STOCK	448954107	10	20,000	SH		SOLE	0	2,000	0	18,000
INGREDION INCORPORATED	COMMON STOCK	457187102	33,095	504,337	SH		SOLE	0	174,632	0	220,709
INTEL CORP	COMMON STOCK	458140100	1,151	47,510	SH		SOLE	0	4,751	0	42,759
INTERNATIONAL PAPER CO	COMMON STOCK	460146103	621	14,025	SH		SOLE	0	1,403	0	12,623
INTL BUSINESS MACHINES	COMMON STOCK	459200101	12,831	67,138	SH		SOLE	0	6,714	0	60,425
ITC HOLDINGS CORP	COMMON STOCK	465685105	1,640	17,958	SH		SOLE	0	1,796	0	16,162
JOHNSON & JOHNSON	COMMON STOCK	478160104	4,260	49,618	SH		SOLE	0	4,962	0	44,656
JPMORGAN CHASE & CO	COMMON STOCK	46625H100	2,103	39,836	SH		SOLE	0	3,984	0	35,852
KANSAS CITY SOUTHERN NEW	COMMON STOCK	485170302	35,506	335,091	SH		SOLE	0	120,646	0	145,884
KEYCORP	COMMON STOCK	493267108	229	20,751	SH		SOLE	0	2,075	0	18,676
KINDER MORGAN ENERGY LP UNIT	COMMON STOCK	494550106	1,360	15,926	SH		SOLE	0	1,593	0	14,333
KINDER MORGAN INC	COMMON STOCK	49456B101	3,458	90,631	SH		SOLE	0	9,063	0	81,568
KINDER MORGAN MGMT LLC	COMMON STOCK	49455U100	41,559	497,176	SH		SOLE	0	170,268	0	230,650
KRAFT FOODS GROUP, INC	COMMON STOCK	50076Q106	1,762	31,531	SH		SOLE	0	3,153	0	28,378
LENNAR CP CL A	COMMON STOCK	526057104	1,603	44,485	SH		SOLE	0	4,449	0	40,037
LOCKHEED MARTIN CORP	COMMON STOCK	539830109	2,105	19,412	SH		SOLE	0	1,941	0	17,471
LORILLARD INC	COMMON STOCK	544147101	17,612	403,204	SH		SOLE	0	130,068	0	198,589
LYONDELLBASELL INDS F CLASS A	COMMON STOCK	N53745100	49,488	746,875	SH		SOLE	0	236,977	0	383,780
M D U RESOURCES GROUP	COMMON STOCK	552690109	1,207	46,575	SH		SOLE	0	4,658	0	41,918
MACY'S INC	COMMON STOCK	55616P104	230	4,790	SH		SOLE	0	479	0	4,311
MARATHON PETROLEUM CORPORATION	COMMON STOCK	56585A102	419	5,900	SH		SOLE	0	590	0	5,310
MARSH & MC LENNAN CO INC	COMMON STOCK	571748102	1,099	27,535	SH		SOLE	0	2,754	0	24,782
MASTERCARD INC	COMMON STOCK	57636Q104	4,791	8,340	SH		SOLE	0	834	0	7,506
MC DONALDS CORP	COMMON STOCK	580135101	10,577	106,837	SH		SOLE	0	10,684	0	96,153
MCKESSON CORPORATION	COMMON STOCK	58155Q103	227	1,984	SH		SOLE	0	198	0	1,786
MEAD JOHNSON NUTRITION	COMMON STOCK	582839106	5,339	67,391	SH		SOLE	0	6,739	0	60,652
MERCK & CO INC NEW	COMMON STOCK	58933Y105	255	5,482	SH		SOLE	0	548	0	4,934
MICROCHIP TECHNOLOGY INC	COMMON STOCK	595017104	48,460	1,300,948	SH		SOLE	0	431,783	0	638,213
MICROSOFT CORP	COMMON STOCK	594918104	2,762	79,944	SH		SOLE	0	7,994	0	71,950
MONDELEZ INTERNMATIONAL INC	COMMON STOCK	609207105	2,058	72,132	SH		SOLE	0	7,213	0	64,919
MONSANTO CO NEW	COMMON STOCK	61166W101	1,183	11,975	SH		SOLE	0	1,198	0	10,778
MONSTER BEVERAGE CORP	COMMON STOCK	611740101	362	5,950	SH		SOLE	0	595	0	5,355
MORGAN STANLEY	COMMON STOCK	617446448	65,188	2,668,374	SH		SOLE	0	929,228	0	1,223,598
MURPHY OIL CORP	COMMON STOCK	626717102	371	6,088	SH		SOLE	0	609	0	5,479
NATIONAL FUEL GAS CO	COMMON STOCK	636180101	782	13,501	SH		SOLE	0	1,350	0	12,151
NATURAL RESOURCE PTNR LP	COMMON STOCK	63900P103	1,648	80,102	SH		SOLE	0	8,010	0	72,092
NEW YORK COMMUNITY BANCORP INC	COMMON STOCK	649445103	157	11,200	SH		SOLE	0	1,120	0	10,080
NEXTERA ENERGY INC	COMMON STOCK	65339F101	5,140	63,079	SH		SOLE	0	6,308	0	56,771
NORDSTROM INC	COMMON STOCK	655664100	41,858	698,329	SH		SOLE	0	251,780	0	303,530
OCWEN FINL CORP COM	COMMON STOCK	675746309	36,467	884,692	SH		SOLE	0	322,083	0	382,791
OLIN CORP NEW	COMMON STOCK	680665205	1,047	43,750	SH		SOLE	0	4,375	0	39,375
ORACLE CORPORATION	COMMON STOCK	68389X105	702	22,870	SH		SOLE	0	2,287	0	20,583
PARK ELECTROCHEMICAL COM	COMMON STOCK	700416209	935	38,950	SH		SOLE	0	3,895	0	35,055
PENTAIR INC	COMMON STOCK	H6169Q108	1,278	22,152	SH		SOLE	0	2,215	0	19,937
PEPSICO INC	COMMON STOCK	713448108	257	3,145	SH		SOLE	0	315	0	2,831
PFIZER INC	COMMON STOCK	717081103	67,347	2,404,380	SH		SOLE	0	822,307	0	1,128,089
PHILIP MORRIS INTL INC	COMMON STOCK	718172109	38,680	446,550	SH		SOLE	0	120,719	0	257,322
PIONEER NAT RES CO COM	COMMON STOCK	723787107	479	3,307	SH		SOLE	0	331	0	2,976
PLUM CREEK TIMBER CO REIT	COMMON STOCK	729251108	34,420	737,530	SH		SOLE	0	218,428	0	402,712
PRECISION CASTPARTS CORP	COMMON STOCK	740189105	7,874	34,841	SH		SOLE	0	3,484	0	31,357
PRECISION DRILLING CORP	COMMON STOCK	74022D308	361	42,200	SH		SOLE	0	4,220	0	37,980
PROCTER & GAMBLE	COMMON STOCK	742718109	721	9,370	SH		SOLE	0	937	0	8,433
PROSHS ULTRASHRT S&P500 PROSHARES T	COMMON STOCK	74347B300	35,070	858,505	SH		SOLE	0	308,155	0	376,368
PROTECTIVE LIFE CORP	COMMON STOCK	743674103	1,268	33,000	SH		SOLE	0	3,300	0	29,700
PRUDENTIAL FINANCIAL INC	COMMON STOCK	744320102	219	3,000	SH		SOLE	0	300	0	2,700
PUB SVC ENT GROUP INC	COMMON STOCK	744573106	653	20,000	SH		SOLE	0	2,000	0	18,000
PVH CORP	COMMON STOCK	693656100	359	2,874	SH		SOLE	0	287	0	2,586
PVR Partners LP	COMMON STOCK	693665101	992	36,340	SH		SOLE	0	3,634	0	32,706
QUESTAR CORP	COMMON STOCK	748356102	40,652	1,704,478	SH		SOLE	0	540,102	0	871,917
R R DONNELLEY & SONS CO	COMMON STOCK	257867101	489	34,900	SH		SOLE	0	3,490	0	31,410
RALPH LAUREN CORP CL A	COMMON STOCK	751212101	1,649	9,493	SH		SOLE	0	949	0	8,544
RAYONIER INC WITH STOCK SPLIT SHARE	COMMON STOCK	754907103	3,096	55,900	SH		SOLE	0	5,590	0	50,310
REGENERON PHARMACEUTICALS	COMMON STOCK	75886F107	34,070	151,502	SH		SOLE	0	53,715	0	67,058
REGIONS FINANCIAL CORP COM	COMMON STOCK	7591EP100	238	25,000	SH		SOLE	0	2,500	0	22,500
ROPER INDUSTRIES INC	COMMON STOCK	776696106	23,044	185,513	SH		SOLE	0	62,570	0	89,594
ROSS STORES INC COM	COMMON STOCK	778296103	732	11,294	SH		SOLE	0	1,129	0	10,165
ROYAL DUTCH SHELL PLC	COMMON STOCK	780259206	874	13,700	SH		SOLE	0	1,370	0	12,330
ROYAL DUTCH SHELL PLC	COMMON STOCK	780259206	434	6,800	SH		SOLE	0	680	0	6,120
S P D R S&P 500 ETF TR EXPIRING 01/	COMMON STOCK	78462F103	432	2,696	SH		SOLE	0	270	0	2,426
SENOMYX INC	COMMON STOCK	81724Q107	198	90,760	SH		SOLE	0	9,076	0	81,684
SIMPSON MFG CO INC COM	COMMON STOCK	829073105	730	24,800	SH		SOLE	0	2,480	0	22,320
SLM CORPORATION	COMMON STOCK	78442P106	41,300	1,806,635	SH		SOLE	0	650,115	0	790,132
STERICYCLE INC	COMMON STOCK	858912108	1,123	10,172	SH		SOLE	0	1,017	0	9,155
T J X COS. INC.	COMMON STOCK	872540109	1,026	20,491	SH		SOLE	0	2,049	0	18,442
TARGET CORP	COMMON STOCK	87612E106	2,367	34,370	SH		SOLE	0	3,437	0	30,933
TECO ENERGY INC	COMMON STOCK	872375100	1,848	107,525	SH		SOLE	0	10,753	0	96,773
TELEFLEX INC COM	COMMON STOCK	879369106	294	3,794	SH		SOLE	0	379	0	3,415
THE SOUTHERN COMPANY	COMMON STOCK	842587107	1,743	39,500	SH		SOLE	0	3,950	0	35,550
THERMO FISHER SCIENTIFIC INC	COMMON STOCK	883556102	305	3,601	SH		SOLE	0	360	0	3,241
TRACTOR SUPPLY CO	COMMON STOCK	892356106	1,175	10,000	SH		SOLE	0	1,000	0	9,000
TRAVELERS COMPANIES INC	COMMON STOCK	89417E109	248	3,102	SH		SOLE	0	310	0	2,792
TRIBUNE CO NEW CL A	COMMON STOCK	896047503	1,112	19,545	SH		SOLE	0	1,955	0	17,591
TYCO INTL LTD	COMMON STOCK	H89128104	7,257	220,232	SH		SOLE	0	22,023	0	198,208
UNITED PARCEL SVC INC CL B	COMMON STOCK	911312106	1,124	13,000	SH		SOLE	0	1,300	0	11,700
UNITED TECHNOLOGIES	COMMON STOCK	913017109	544	5,850	SH		SOLE	0	585	0	5,265
UNITEDHEALTH GROUP INC	COMMON STOCK	91324P102	803	12,257	SH		SOLE	0	1,226	0	11,031
US BANCORP	COMMON STOCK	902973304	1,073	29,690	SH		SOLE	0	2,969	0	26,721
USANA HEALTH SCIENCES INC	COMMON STOCK	90328M107	434	5,994	SH		SOLE	0	599	0	5,395
VALERO ENERGY CORP NEW COM	COMMON STOCK	91913Y100	236	6,792	SH		SOLE	0	679	1	6,113
VERISK ANALYTICS INC CL A	COMMON STOCK	92345Y106	1,153	19,310	SH		SOLE	0	1,931	2	17,379
VERIZON COMMUNICATIONS	COMMON STOCK	92343V104	2,456	48,796	SH		SOLE	0	4,880	3	43,916
WASTE MANAGEMENT INC DEL	COMMON STOCK	94106L109	1,537	38,109	SH		SOLE	0	3,811	4	34,298
WELLPOINT INC	COMMON STOCK	94973V107	712	8,702	SH		SOLE	0	870	5	7,832
WELLS FARGO & CO NEW	COMMON STOCK	949746101	65,027	1,575,649	SH		SOLE	0	495,611	6	819,164
WESTERN REFNG INC COM	COMMON STOCK	959319104	298	10,623	SH		SOLE	0	1,062	7	9,561
WESTPORT INNOVATIONS COM NEW	COMMON STOCK	960908309	883	26,325	SH		SOLE	0	2,633	8	23,693
WEYERHAEUSER CO	COMMON STOCK	962166104	731	25,664	SH		SOLE	0	2,566	9	23,098
WILLIAMS PARTNERS LP	COMMON STOCK	96950F104	1,104	21,400	SH		SOLE	0	2,140	10	19,260
WIND ENERGY AMERICA INC	COMMON STOCK	973146103	0	30,000	SH		SOLE	0	3,000	11	27,000
WORKDAY, INC	COMMON STOCK	98138H101	17,797	277,695	SH		SOLE	0	98,153	12	122,676
XCEL ENERGY INC	COMMON STOCK	98389B100	395	13,950	SH		SOLE	0	1,395	13	12,555