Willis Investment Counsel 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

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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
3m Company	COM	88579Y101	4,304	24,105	SH		SOLE		2,700	0	21,405
ABB LTD	COM	000375204	5,693	270,200	SH		SOLE		25,700	0	244,500
Advance Auto Parts	COM	00751Y106	7,271	42,995	SH		SOLE		18,685	0	24,310
Aflac Inc	COM	001055102	19,203	275,898	SH		SOLE		71,740	0	204,158
Agrium Inc	COM	008916108	1,176	11,700	SH		SOLE		0	0	11,700
Air Products & Chemicals	COM	009158106	5,264	36,600	SH		SOLE		3,400	0	33,200
Amcon Distributing Co	COM	02341Q205	2,110	18,304	SH		SOLE		0	0	18,304
Amdocs Ltd	COM	G02602103	8,861	152,126	SH		SOLE		68,100	0	84,026
American Electric Power Co	COM	025537101	14,377	228,350	SH		SOLE		21,500	0	206,850
American Express	COM	025816109	7,095	95,780	SH		SOLE		42,485	0	53,295
Apache Corp	COM	037411105	6,623	104,343	SH		SOLE		47,335	0	57,008
Apple Computer	COM	037833100	18,466	159,435	SH		SOLE		15,700	0	143,735
Ashmore Group PLC	COM	G0609C101	749	214,520	SH		SOLE		0	0	214,520
AT&T Corp	COM	00206R102	22,669	533,009	SH		SOLE		51,500	0	481,509
Automatic Data Proc	COM	053015103	11,933	116,100	SH		SOLE		11,200	0	104,900
BB&T Corporation	COM	054937107	20,164	428,845	SH		SOLE		41,400	0	387,445
BHP Billiton Ltd	COM	088606108	3,628	101,385	SH		SOLE		43,460	0	57,925
Blue Bird Corporation	COM	095306106	2,045	132,381	SH		SOLE		0	0	132,381
Boeing Company	COM	097023105	8,874	57,000	SH		SOLE		5,500	0	51,500
Bp Plc Spon Adr	COM	055622104	19,707	527,220	SH		SOLE		103,010	0	424,210
Bristol-Myers Squibb Co	COM	110122108	8,890	152,130	SH		SOLE		15,300	0	136,830
CA INC	COM	12673P105	15,796	497,200	SH		SOLE		49,000	0	448,200
Caterpillar Inc Del	COM	149123101	22,241	239,825	SH		SOLE		41,350	0	198,475
Chevron Corp	COM	166764100	18,111	153,875	SH		SOLE		15,500	0	138,375
CHUBB LTD	COM	H1467J104	9,159	69,327	SH		SOLE		31,218	0	38,109
Cisco Systems Inc	COM	17275R102	28,510	943,417	SH		SOLE		194,895	0	748,522
Civeo Corp	COM	17878Y108	31	13,950	SH		SOLE		0	0	13,950
Coca Cola Company	COM	191216100	15,065	363,360	SH		SOLE		35,800	0	327,560
Conocophillips	COM	20825C104	5,783	115,335	SH		SOLE		47,805	0	67,530
Conrad Industries Inc	COM	208305102	1,702	79,671	SH		SOLE		0	0	79,671
Cracker Barrel	COM	22410J106	10,236	61,300	SH		SOLE		6,200	0	55,100
Creston PLC	COM	G25480164	1,869	1,229,500	SH		SOLE		0	0	1,229,500
Darden Restaurants Inc	COM	237194105	19,274	265,050	SH		SOLE		25,500	0	239,550
Deere Co	COM	244199105	1,736	16,850	SH		SOLE		3,500	0	13,350
Dolby Laboratories Inc CL A	COM	25659T107	9,396	207,925	SH		SOLE		75,105	0	132,820
Dollar General Corp	COM	256677105	9,002	121,539	SH		SOLE		54,125	0	67,414
Duke Energy Corp New	COM	26441C204	12,241	157,708	SH		SOLE		15,700	0	142,008
Eaton Corp	COM	G29183103	16,860	251,300	SH		SOLE		24,900	0	226,400
Echelon Financial Holdings Inc	COM	27876N103	1,264	152,744	SH		SOLE		0	0	152,744
Eli Lilly & Co	COM	532457108	22,933	311,800	SH		SOLE		30,600	0	281,200
Emerson Elec Co	COM	291011104	12,081	216,700	SH		SOLE		22,500	0	194,200
Ensco PLC SHS CL A	COM	G3157S106	6,446	663,132	SH		SOLE		265,825	0	397,307
Exxon Mobil Corp	COM	30231G102	26,480	293,370	SH		SOLE		55,735	0	237,635
Facebook Inc	COM	30303M102	2,770	24,078	SH		SOLE		0	0	24,078
Fastenal Co	COM	311900104	5,750	122,400	SH		SOLE		12,500	0	109,900
First Energy Corp	COM	337932107	11,651	376,200	SH		SOLE		37,400	0	338,800
Flowers Foods Inc Com	COM	343498101	277	13,882	SH		SOLE		13,882	0	0
General Electric	COM	369604103	19,096	604,304	SH		SOLE		59,000	0	545,304
General Mills Inc	COM	370334104	11,088	179,500	SH		SOLE		17,500	0	162,000
Genuine Parts Co	COM	372460105	17,895	187,300	SH		SOLE		19,000	0	168,300
Glaxosmithkline PLC	COM	37733W105	18,831	489,000	SH		SOLE		47,800	0	441,200
Harris Corporation	COM	413875105	5,246	51,200	SH		SOLE		3,800	0	47,400
Hasbro Inc	COM	418056107	11,513	148,000	SH		SOLE		14,200	0	133,800
Healthcare Realty TR REIT	COM	421946104	4,245	140,000	SH		SOLE		0	0	140,000
Hilton Food Group	COM	G4586W106	1,064	138,700	SH		SOLE		0	0	138,700
HomeServe	COM	G4639X119	1,219	159,179	SH		SOLE		0	0	159,179
Intel Corp	COM	458140100	27,876	768,579	SH		SOLE		145,465	0	623,114
International Flavors & Fragrances	COM	459506101	6,572	55,773	SH		SOLE		25,170	0	30,603
Intl Business Machines Corp Ibm	COM	459200101	18,819	113,375	SH		SOLE		11,500	0	101,875
John Wiley & Sons Inc Class A	COM	968223206	7,259	133,190	SH		SOLE		60,080	0	73,110
Johnson And Johnson	COM	478160104	28,939	251,183	SH		SOLE		51,335	0	199,848
JP Morgan Chase & Co	COM	46625H100	20,039	232,225	SH		SOLE		23,100	0	209,125
Kellogg	COM	487836108	7,579	102,825	SH		SOLE		9,700	0	93,125
Kimberly Clark Corp	COM	494368103	12,622	110,600	SH		SOLE		10,800	0	99,800
Kohls Corp	COM	500255104	23,244	470,710	SH		SOLE		83,880	0	386,830
Kraft Heinz Company	COM	500754106	5,112	58,542	SH		SOLE		5,800	0	52,742
Kroger Co	COM	501044101	5,281	153,020	SH		SOLE		69,150	0	83,870
Laboratory Corp of America	COM	50540R409	3,923	30,560	SH		SOLE		13,430	0	17,130
Leucadia National Corp	COM	527288104	2,056	88,435	SH		SOLE		0	0	88,435
Lockheed Martin Corp	COM	539830109	7,973	31,900	SH		SOLE		3,100	0	28,800
Mattel, Inc.	COM	577081102	5,072	184,100	SH		SOLE		18,400	0	165,700
Maxim Integrated Prods	COM	57772K101	16,805	435,700	SH		SOLE		44,000	0	391,700
Mcdonalds Corp Com	COM	580135101	20,996	172,498	SH		SOLE		16,300	0	156,198
Medtronic PLC SHS	COM	G5960L103	6,791	95,340	SH		SOLE		42,790	0	52,550
Merck & Company, Inc	COM	58933Y105	20,169	342,600	SH		SOLE		33,900	0	308,700
Metlife Inc	COM	59156R108	7,933	147,200	SH		SOLE		14,200	0	133,000
Microsoft Corp	COM	594918104	30,970	498,398	SH		SOLE		104,675	0	393,723
Mosaic Company	COM	61945C103	15,208	518,505	SH		SOLE		120,025	0	398,480
MSC Industrial Direct Co	COM	553530106	8,495	91,950	SH		SOLE		40,855	0	51,095
Murphy Oil Corp	COM	626717102	12,908	414,650	SH		SOLE		119,180	0	295,470
Murphy USA Inc	COM	626755102	4,456	72,497	SH		SOLE		32,202	0	40,295
Mycelx Technologies Corp .02 USD Par Ordinary	COM	62847T202	4	10,360	SH		SOLE		0	0	10,360
National Research Corp Class A	COM	637372202	829	43,610	SH		SOLE		0	0	43,610
National Research Corp Class B	COM	637372301	1,234	29,609	SH		SOLE		0	0	29,609
Nicholas Financial Inc	COM	65373J209	1,157	97,325	SH		SOLE		0	0	97,325
Nordstrom Inc	COM	655664100	6,279	131,000	SH		SOLE		13,200	0	117,800
Norfolk Southern Corp	COM	655844108	3,136	29,015	SH		SOLE		2,700	0	26,315
Nucor Corporation	COM	670346105	6,035	101,400	SH		SOLE		7,500	0	93,900
Occidental Petroleum Corp	COM	674599105	24,106	338,420	SH		SOLE		60,530	0	277,890
Patriot Transportation	COM	70338W105	1,629	74,300	SH		SOLE		0	0	74,300
Paychex Inc	COM	704326107	18,955	311,350	SH		SOLE		31,600	0	279,750
Pepsico Inc	COM	713448108	14,283	136,510	SH		SOLE		35,310	0	101,200
Pfizer Inc	COM	717081103	27,778	855,233	SH		SOLE		147,135	0	708,098
Philip Morris Intl Inc	COM	718172109	19,841	216,860	SH		SOLE		20,400	0	196,460
Posco	COM	693483109	2,435	46,330	SH		SOLE		20,090	0	26,240
PPL Corp	COM	69351T106	12,166	357,300	SH		SOLE		36,300	0	321,000
Price T Rowe Group Inc	COM	74144T108	13,788	183,200	SH		SOLE		18,500	0	164,700
Procter & Gamble Co	COM	742718109	17,350	206,347	SH		SOLE		20,500	0	185,847
Pulse Seismic Inc	COM	74586Q109	1,868	1,070,695	SH		SOLE		0	0	1,070,695
Puresafe Water Systems Inc	COM	74624H103	0	14,000	SH		SOLE		0	0	14,000
Qualcom Inc	COM	747525103	8,241	126,400	SH		SOLE		14,400	0	112,000
Ralph Lauren Corp	COM	751212101	2,732	30,246	SH		SOLE		13,540	0	16,706
Reinsurance Group of America	COM	759351604	9,482	75,352	SH		SOLE		33,770	0	41,582
Rogers Communications	COM	775109200	6,101	158,130	SH		SOLE		72,260	0	85,870
Royal Bank of Canada	COM	780087102	12,344	182,300	SH		SOLE		17,900	0	164,400
Royal Dutch Shell	COM	780259206	21,223	390,280	SH		SOLE		85,515	0	304,765
Sanofi-Aventis	COM	80105n105	18,267	451,700	SH		SOLE		38,500	0	413,200
Seaboard Corp	COM	811543107	719	182	SH		SOLE		0	0	182
Southern Company	COM	842587107	14,333	291,390	SH		SOLE		28,200	0	263,190
Span-America Medical Systems Inc.	COM	846396109	1,652	90,567	SH		SOLE		0	0	90,567
Spectra Energy Corp	COM	847560109	826	20,110	SH		SOLE		0	0	20,110
Sterling Construction Co Inc	COM	859241101	2,190	258,810	SH		SOLE		0	0	258,810
Sysco Corporation	COM	871829107	6,373	115,100	SH		SOLE		9,300	0	105,800
Target Corp Com	COM	87612E106	17,920	248,100	SH		SOLE		25,200	0	222,900
Texas Instruments Inc	COM	882508104	8,843	121,183	SH		SOLE		14,700	0	106,483
Torchmark Corp	COM	891027104	10,543	142,943	SH		SOLE		64,973	0	77,970
Total SA	COM	89151E109	7,750	152,050	SH		SOLE		16,200	0	135,850
Travelers Cos Inc	COM	89417E109	9,133	74,600	SH		SOLE		7,300	0	67,300
United Parcel Service	COM	911312106	15,923	138,900	SH		SOLE		14,000	0	124,900
Us Bancorp (new)	COM	902973304	8,833	171,950	SH		SOLE		18,700	0	153,250
Varian Medical Sys Inc	COM	92220P105	6,810	75,850	SH		SOLE		33,605	0	42,245
Verizon Communications Com	COM	92343V104	20,189	378,210	SH		SOLE		37,000	0	341,210
Vodafone Group	COM	92857W308	11,406	466,900	SH		SOLE		41,200	0	425,700
VSE Corp	COM	918284100	1,944	50,056	SH		SOLE		0	0	50,056
Wal-Mart Stores Inc	COM	931142103	12,761	184,622	SH		SOLE		16,600	0	168,022
Waste Management Inc New	COM	94106L109	4,673	65,895	SH		SOLE		3,700	0	62,195
Wells Fargo & Co New Del	COM	949746101	20,425	370,624	SH		SOLE		36,100	0	334,524
Xcel Energy Inc	COM	98389B100	2,243	55,100	SH		SOLE		5,400	0	49,700