Miles Capital 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

OMB APPROVAL

OMB Number:		3235-0006
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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
ACADIA HEALTHCARE COMPANY	Common Stocks	00404A109	398	8,826	SH		SOLE	0	7,648	0	1,178
ACE LTD	Common Stocks	H0023R105	1,151	11,617	SH		SOLE	0	9,359	0	2,258
ALEXANDER & BALDWIN INC	Common Stocks	014491104	679	15,957	SH		SOLE	0	13,829	0	2,128
ALLETE INC	Common Stocks	018522300	415	7,920	SH		SOLE	0	6,865	0	1,055
ALTRIA GROUP INC	Common Stocks	02209S103	1,740	46,482	SH		SOLE	0	38,562	0	7,920
AMERICAN ELECTRIC POWER INC	Common Stocks	025537101	1,216	23,996	SH		SOLE	0	19,560	0	4,436
AMERICAN INTL GROUP INC	Common Stocks	026874784	2,468	49,344	SH		SOLE	0	40,604	0	8,740
AMERICAN VANGUARD CORP	Common Stocks	030371108	602	27,804	SH		SOLE	0	24,098	0	3,706
AMN HEALTHCARE SERVICES	Common Stocks	001744101	443	32,274	SH		SOLE	0	27,972	0	4,302
ANADARKO PETROLEUM CORP	Common Stocks	032511107	1,834	21,638	SH		SOLE	0	17,400	0	4,238
APACHE CORP	Common Stocks	037411105	1,369	16,508	SH		SOLE	0	13,407	0	3,101
APPLE COMPUTER INC	Common Stocks	037833100	809	1,508	SH		SOLE	0	1,113	0	395
ASHFORD HOSPITALITY PRIME	Common Stocks	044102101	619	40,958	SH		SOLE	0	35,895	0	5,063
ASPEN TECHNOLOGY INC	Common Stocks	045327103	572	13,495	SH		SOLE	0	11,682	0	1,813
AT&T INC	Common Stocks	00206R102	625	17,823	SH		SOLE	0	15,901	0	1,922
BAXTER INTL INC	Common Stocks	071813109	2,383	32,390	SH		SOLE	0	26,475	0	5,915
BED BATH & BEYOND INC	Common Stocks	075896100	664	9,652	SH		SOLE	0	6,877	0	2,775
CARDTRONICS	Common Stocks	14161H108	531	13,665	SH		SOLE	0	11,831	0	1,834
CARRIAGE SERVICES INC	Common Stocks	143905107	642	35,198	SH		SOLE	0	30,495	0	4,703
CEVA INC	Common Stocks	157210105	705	40,176	SH		SOLE	0	34,824	0	5,352
CHAMBERS STREET PROPERTIES	Common Stocks	157842105	1,111	142,931	SH		SOLE	0	125,595	0	17,336
CHEVRONTEXACO CORPORATION	Common Stocks	166764100	1,747	14,693	SH		SOLE	0	12,279	0	2,414
CINEMARK HOLDINGS INC	Common Stocks	17243V102	316	10,897	SH		SOLE	0	9,446	0	1,451
CISCO SYSTEMS INC	Common Stocks	17275R102	1,258	56,145	SH		SOLE	0	45,934	0	10,211
CNO FINANCIAL GROUP INC	Common Stocks	12621E103	335	18,489	SH		SOLE	0	16,024	0	2,465
COCA-COLA CO	Common Stocks	191216100	2,391	61,853	SH		SOLE	0	50,491	0	11,362
COLGATE-PALMOLIVE CO	Common Stocks	194162103	623	9,607	SH		SOLE	0	6,844	0	2,763
COLUMBIA BANKING SYSTEM	Common Stocks	197236102	589	20,668	SH		SOLE	0	17,899	0	2,769
COMCAST CORP	Common Stocks	20030N101	661	13,217	SH		SOLE	0	9,434	0	3,783
CONOCOPHILLIPS	Common Stocks	20825C104	703	9,991	SH		SOLE	0	8,856	0	1,135
CORE-MARK HOLDING CO INC	Common Stocks	218681104	336	4,629	SH		SOLE	0	4,011	0	618
CORESITE REALTY CORP	Common Stocks	21870Q105	249	8,029	SH		SOLE	0	6,945	0	1,084
CORRECTIONS CORP OF AMERICA	Common Stocks	22025Y407	1,696	54,150	SH		SOLE	0	43,524	0	10,626
COTT CORPORATION	Common Stocks	22163N106	388	45,795	SH		SOLE	0	39,625	0	6,170
CVENT INC	Common Stocks	23247G109	619	17,134	SH		SOLE	0	14,849	0	2,285
DISCOVER FINANCIAL SERVICES	Common Stocks	254709108	1,243	21,364	SH		SOLE	0	17,541	0	3,823
DOMTAR CORP	Common Stocks	257559203	1,583	14,107	SH		SOLE	0	11,402	0	2,705
EL PASO ELECTRIC CO	Common Stocks	283677854	259	7,252	SH		SOLE	0	6,288	0	964
EMC CORP MASS	Common Stocks	268648102	708	25,827	SH		SOLE	0	18,446	0	7,381
ENDURANCE SPECIALTY HLDGS	Common Stocks	G30397106	635	11,805	SH		SOLE	0	10,446	0	1,359
EXPRESS SCRIPTS INC	Common Stocks	30219G108	447	5,954	SH		SOLE	0	4,292	0	1,662
EXXON MOBIL CORP	Common Stocks	30231G102	1,646	16,849	SH		SOLE	0	15,046	0	1,803
FIFTH THIRD BANCORP	Common Stocks	316773100	877	38,185	SH		SOLE	0	33,892	0	4,293
FLOWER FOODS INC	Common Stocks	343498101	2,364	110,217	SH		SOLE	0	90,078	0	20,139
FORUM ENERGY TECHNOLOGIES INC	Common Stocks	34984V100	512	16,524	SH		SOLE	0	14,325	0	2,199
FRANKLIN RESOURCES INC	Common Stocks	354613101	1,647	30,396	SH		SOLE	0	24,800	0	5,596
GENERAL ELECTRIC CO	Common Stocks	369604103	2,192	84,649	SH		SOLE	0	69,083	0	15,566
GENESEE & WYOMING INC-CL A	Common Stocks	371559105	363	3,732	SH		SOLE	0	3,248	0	484
GOLDCORP INC	Common Stocks	380956409	551	22,516	SH		SOLE	0	16,103	0	6,413
GRAPHIC PACKAGING HOLDING	Common Stocks	388689101	368	36,236	SH		SOLE	0	31,367	0	4,869
HSN INC	Common Stocks	404303109	686	11,478	SH		SOLE	0	9,948	0	1,530
IPATH DOW JONES-AIG COMMDTY INDX ETN	ETF	06738C778	5	117	SH		OTR	0	0	0	117
IPATH DOW JONES-AIG COMMDTY INDX ETN	ETF	06738C778	10,550	267,429	SH		SOLE	0	258,482	0	8,947
ISHARES BARCLAY TIPS BONDS	ETF	464287176	31	276	SH		OTR	0	0	0	276
ISHARES BARCLAY TIPS BONDS	ETF	464287176	1,552	13,845	SH		SOLE	0	8,323	0	5,522
ISHARES MSCI JAPAN ETF	ETF	464286848	213	18,815	SH		SOLE	0	18,815	0	0
ISHARES S&P 500 INDEX FUND	ETF	464287200	28	151	SH		OTR	0	0	0	151
ISHARES S&P 500 INDEX FUND	ETF	464287200	8,020	42,626	SH		SOLE	0	33,237	0	9,389
ISHARES S&P MIDCAP 400 INDEX FUND	ETF	464287507	512	3,726	SH		SOLE	0	3,323	0	403
ISHARES TR MSCI EAFE INDEX	ETF	464287465	5,847	87,004	SH		SOLE	0	87,004	0	0
ISHARES TR RUSSL 2000 INDEX	ETF	464287655	10	82	SH		OTR	0	0	0	82
ISHARES TR RUSSL 2000 INDEX	ETF	464287655	5,115	43,970	SH		SOLE	0	39,536	0	4,434
JOHNSON & JOHNSON	Common Stocks	478160104	1,975	20,106	SH		SOLE	0	16,932	0	3,174
JPMORGAN CHASE & CO	Common Stocks	46625H100	2,036	33,534	SH		SOLE	0	27,435	0	6,099
KAR AUCTION SERVICES INC	Common Stocks	48238T109	3,107	102,375	SH		SOLE	0	83,852	0	18,523
MARVELL TECHNOLOGY GROUP LTD	Common Stocks	G5876H105	1,496	94,994	SH		SOLE	0	76,957	0	18,037
MATSON INC	Common Stocks	57686G105	645	26,127	SH		SOLE	0	22,628	0	3,499
MCDONALDS CORP	Common Stocks	580135101	1,750	17,850	SH		SOLE	0	14,394	0	3,456
MERCK & CO INC	Common Stocks	58933Y105	1,912	33,686	SH		SOLE	0	27,348	0	6,338
MICROSOFT CORP	Common Stocks	594918104	2,550	62,201	SH		SOLE	0	50,261	0	11,940
NATIONAL OILWELL VARCO INC	Common Stocks	637071101	1,688	21,671	SH		SOLE	0	17,612	0	4,059
NEXTERA ENERGY INC	Common Stocks	65339F101	716	7,485	SH		SOLE	0	6,633	0	852
NIELSEN HOLDING N.V.	Common Stocks	N63218106	2,192	49,108	SH		SOLE	0	40,605	0	8,503
NORFOLK SOUTHN CORP	Common Stocks	655844108	817	8,405	SH		SOLE	0	7,448	0	957
OCCIDENTAL PETE CORP	Common Stocks	674599105	2,173	22,806	SH		SOLE	0	18,531	0	4,275
ORACLE CORP	Common Stocks	68389X105	2,533	61,910	SH		SOLE	0	50,322	0	11,588
PFIZER INC	Common Stocks	717081103	1,451	45,175	SH		SOLE	0	37,380	0	7,795
PG&E CORPORATION	Common Stocks	69331C108	1,495	34,614	SH		SOLE	0	28,642	0	5,972
PNC FINL SVCS GROUP INC	Common Stocks	693475105	1,832	21,062	SH		SOLE	0	17,590	0	3,472
PROASSURANCE CORP	Common Stocks	74267C106	382	8,579	SH		SOLE	0	7,451	0	1,128
PRUDENTIAL FINANCIAL INC	Common Stocks	744320102	1,812	21,407	SH		SOLE	0	18,001	0	3,406
RESOLUTE ENERGY COMPANY	Common Stocks	76116A108	388	53,914	SH		SOLE	0	46,729	0	7,185
SABRA HEALTHCARE REIT	Common Stocks	78573L106	671	24,053	SH		SOLE	0	20,865	0	3,188
SCHLUMBERGER LTD	Common Stocks	806857108	486	4,988	SH		SOLE	0	3,573	0	1,415
SEMGROUP CORP CL A	Common Stocks	81663A105	387	5,899	SH		SOLE	0	5,108	0	791
SILICON IMAGE INC	Common Stocks	82705T102	807	116,980	SH		SOLE	0	101,286	0	15,694
SP PLUS CORPORATION	Common Stocks	78469C103	475	18,092	SH		SOLE	0	15,695	0	2,397
SPDR BARCLAYS HIGH YLD BOND ETF	ETF	78464A417	37	894	SH		OTR	0	0	0	894
SPDR BARCLAYS HIGH YLD BOND ETF	ETF	78464A417	15,038	363,939	SH		SOLE	0	342,574	0	21,365
SPDR BARCLAYS INTL TREASURY BOND ETF	ETF	78464A516	3,520	59,280	SH		SOLE	0	59,280	0	0
SPDR ENERGY SELECT	ETF	81369Y506	502	5,639	SH		SOLE	0	5,639	0	0
SPDR S&P 500 ETF TRUST	ETF	78462F103	2,551	13,639	SH		SOLE	0	13,639	0	0
ST JUDE MEDICAL CENTER INC	Common Stocks	790849103	1,385	21,177	SH		SOLE	0	16,917	0	4,260
STANDARD MOTOR PRODUCTS	Common Stocks	853666105	399	11,166	SH		SOLE	0	9,723	0	1,443
SUMMIT HOTEL PROPERTIES	Common Stocks	866082100	381	41,084	SH		SOLE	0	35,637	0	5,447
SYMMETRY MEDICAL INC	Common Stocks	871546206	740	73,513	SH		SOLE	0	63,704	0	9,809
TARGET CORP	Common Stocks	87612E106	1,854	30,645	SH		SOLE	0	24,751	0	5,894
THOR INDUSTRIES INC	Common Stocks	885160101	2,465	40,375	SH		SOLE	0	32,579	0	7,796
THORATEC CORPORATION	Common Stocks	885175307	651	18,187	SH		SOLE	0	15,765	0	2,422
UNION PACIFIC CORP	Common Stocks	907818108	767	4,089	SH		SOLE	0	2,922	0	1,167
VALMONT INDS INC COM	Common Stocks	920253101	646	4,343	SH		SOLE	0	3,763	0	580
VANGUARD FTSE DEVELOPED ETF	ETF	921943858	23	552	SH		OTR	0	0	0	552
VANGUARD FTSE DEVELOPED ETF	ETF	921943858	25,455	616,793	SH		SOLE	0	579,662	0	37,131
VANGUARD INTL EQ INDEX MSCI EMR MKT ETF	ETF	922042858	4	106	SH		OTR	0	0	0	106
VANGUARD INTL EQ INDEX MSCI EMR MKT ETF	ETF	922042858	415	10,239	SH		SOLE	0	6,906	0	3,333
VANGUARD REIT ETF	ETF	922908553	5	64	SH		OTR	0	0	0	64
VANGUARD REIT ETF	ETF	922908553	4,263	60,365	SH		SOLE	0	55,069	0	5,296
VANGUARD SMALL CAP ETF	ETF	922908751	1,411	12,492	SH		SOLE	0	12,492	0	0
VANGUARD TOTAL BOND MARKET ETF	ETF	921937835	173	2,126	SH		OTR	0	0	0	2,126
VANGUARD TOTAL BOND MARKET ETF	ETF	921937835	9,442	116,297	SH		SOLE	0	68,960	0	47,337
VERIZON COMMUNICATIONS	Common Stocks	92343V104	1,325	27,861	SH		SOLE	0	22,041	0	5,820
WELLS FARGO	Common Stocks	949746101	1,894	38,088	SH		SOLE	0	32,054	0	6,034
XYRATEX LTD	Common Stocks	G98268108	619	46,786	SH		SOLE	0	41,042	0	5,744
ZIX CORPORATION	Common Stocks	98974P100	273	65,849	SH		SOLE	0	57,124	0	8,725