Saturna 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
Expires:	Oct 31, 2018
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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
21Vianet Group ADS	ADR	90138A103	42	3,665	SH		SOLE	0	3,665	0	0
3M	Common Stock	88579Y101	28,750	262,917	SH		SOLE	0	262,917	0	0
Abbott Laboratories	Common Stock	2824100	13,850	397,062	SH		SOLE	0	397,062	0	0
AbbVie	Common Stock	00287Y109	16,076	388,863	SH		SOLE	0	388,863	0	0
Accenture PLC, Cla A	Common Stock	G1151C101	194	2,700	SH		SOLE	0	2,700	0	0
Actavis Inc.	Common Stock	00507K103	15	119	SH		SOLE	0	119	0	0
Adobe Systems	Common Stock	00724F101	60,889	1,336,455	SH		SOLE	0	1,336,455	0	0
AFP Provida SA ADS	ADR	00709P108	43	500	SH		SOLE	0	500	0	0
Agilent Technologies	Common Stock	00846U101	39,460	922,822	SH		SOLE	0	922,822	0	0
Air Products & Chemicals	Common Stock	9158106	22,893	250,000	SH		SOLE	0	250,000	0	0
Akamai Technologies	Common Stock	00971T101	42,865	1,007,414	SH		SOLE	0	1,007,414	0	0
Alamos Gold	Common Stock	11527959	394	32,500	SH		SOLE	0	32,500	0	0
Alaska Air	Common Stock	11659109	520	10,000	SH		SOLE	0	10,000	0	0
Alcoa	Common Stock	13817101	47	6,055	SH		SOLE	0	6,055	0	0
Alere, perp pfd conv ser B	Convt Prefrd Stock	01449J204	45	199	SH		SOLE	0	199	0	0
America Movil ADR	ADR	02364W105	13,787	633,866	SH		SOLE	0	633,866	0	0
Amazon.com	Common Stock	23135106	1,725	6,211	SH		SOLE	0	6,211	0	0
Ameren	Common Stock	23608102	11	333	SH		SOLE	0	333	0	0
American Electric Power	Common Stock	25537101	5	120	SH		SOLE	0	120	0	0
AmerisourceBergen Corp	Common Stock	03073E105	6	110	SH		SOLE	0	110	0	0
Amgen	Common Stock	31162100	64,715	655,944	SH		SOLE	0	655,944	0	0
AmSurg	Common Stock	03232P405	527	15,000	SH		SOLE	0	15,000	0	0
Anadarko Petroleum	Common Stock	32511107	137	1,600	SH		SOLE	0	1,600	0	0
Analog Devices	Common Stock	32654105	23	500	SH		SOLE	0	500	0	0
Anglo American ADR	ADR	03485P201	14,814	1,538,301	SH		SOLE	0	1,538,301	0	0
Aon Corp	Common Stock	G0408V102	187	2,912	SH		SOLE	0	2,912	0	0
Apache	Common Stock	37411105	45	532	SH		SOLE	0	532	0	0
Apartment Investment & Management	Common Stock	03748R101	22	743	SH		SOLE	0	743	0	0
Apple	Common Stock	37833100	90,348	227,846	SH		SOLE	0	227,846	0	0
ARM Holdings plc ADS	ADR	42068106	53	1,451	SH		SOLE	0	1,451	0	0
ASML Holding NV	Common Stock	N07059210	41,117	519,750	SH		SOLE	0	519,750	0	0
AstraZeneca ADS	ADR	46353108	12,440	263,000	SH		SOLE	0	263,000	0	0
AT&T	Common Stock	00206R102	654	18,468	SH		SOLE	0	18,468	0	0
Atlas Pipeline Partners	Common Stock	49392103	153	4,000	SH		SOLE	0	4,000	0	0
Australia & New Zealand Banking ADS	ADR	52528304	2,208	84,500	SH		SOLE	0	84,500	0	0
AutoNavi Holdings ADS	ADR	05330F106	326	27,000	SH		SOLE	0	27,000	0	0
Aviat Networks	Common Stock	05366Y102	2	630	SH		SOLE	0	630	0	0
Avista	Common Stock	05379B107	262	9,700	SH		SOLE	0	9,700	0	0
Baidu ADS	ADR	56752108	473	5,000	SH		SOLE	0	5,000	0	0
Banco Santander (Brasil) SA ADS	ADR	05967A107	1,244	200,000	SH		SOLE	0	200,000	0	0
Banco Santander ADS	ADR	05964H105	647	100,000	SH		SOLE	0	100,000	0	0
Bank of America	Common Stock	60505104	103	8,000	SH		SOLE	0	8,000	0	0
Bank of New York Mellon	Common Stock	64058100	19	670	SH		SOLE	0	670	0	0
Barrick Gold	Common Stock	67901108	1,889	120,000	SH		SOLE	0	120,000	0	0
BASF ADR	ADR	55262505	16,582	185,292	SH		SOLE	0	185,292	0	0
BCE	Common Stock	05534B760	2,891	70,469	SH		SOLE	0	70,469	0	0
Becton, Dickinson & Co.	Common Stock	75887109	20,754	210,000	SH		SOLE	0	210,000	0	0
Bed Bath & Beyond	Common Stock	75896100	719	10,135	SH		SOLE	0	10,135	0	0
BG Group ADR	ADR	55434203	1,187	70,000	SH		SOLE	0	70,000	0	0
BHP Billiton ADS	ADR	88606108	2,475	42,928	SH		SOLE	0	42,928	0	0
BlackRock	Common Stock	09247X101	26	100	SH		SOLE	0	100	0	0
Boardwalk Pipeline Partners LP	Common Stock	96627104	121	4,000	SH		SOLE	0	4,000	0	0
Boeing	Common Stock	97023105	572	5,588	SH		SOLE	0	5,588	0	0
BP plc ADS	ADR	55622104	2,191	52,491	SH		SOLE	0	52,491	0	0
Brandywine Realty Trust	Common Stock	105368203	5	397	SH		SOLE	0	397	0	0
Bristol-Myers Squibb	Common Stock	110122108	36,381	814,075	SH		SOLE	0	814,075	0	0
Canadian National Railway	Common Stock	136375102	32,955	338,800	SH		SOLE	0	338,800	0	0
Canadian Oil Sands Ltd.	Common Stock	13643E105	92	5,000	SH		SOLE	0	5,000	0	0
Canon ADS	ADR	138006309	18,462	561,675	SH		SOLE	0	561,675	0	0
Carlisle	Common Stock	142339100	28,725	461,000	SH		SOLE	0	461,000	0	0
Carmax	Common Stock	143130102	78	1,680	SH		SOLE	0	1,680	0	0
Carrefour S.A. ADS	ADR	144430204	923	170,000	SH		SOLE	0	170,000	0	0
Caterpillar	Common Stock	149123101	49	600	SH		SOLE	0	600	0	0
Celgene	Common Stock	151020104	11,698	100,000	SH		SOLE	0	100,000	0	0
Cenovus	Common Stock	15135U109	31,166	1,092,773	SH		SOLE	0	1,092,773	0	0
Charles River Laboratories	Common Stock	159864107	61	1,495	SH		SOLE	0	1,495	0	0
Charles Schwab	Common Stock	808513105	531	25,000	SH		SOLE	0	25,000	0	0
Chemtura Corp	Common Stock	163893209	0	10	SH		SOLE	0	10	0	0
Cheung Kong HLDG UNSP/ADR	ADR	166744201	4	328	SH		SOLE	0	328	0	0
Chevron Corporation	Common Stock	166764100	557	4,707	SH		SOLE	0	4,707	0	0
China Mobile ADS	ADR	16941M109	1,377	26,600	SH		SOLE	0	26,600	0	0
China Petroleum & Chemical ADS	ADR	16941R108	73	800	SH		SOLE	0	800	0	0
Chorus Ltd ADS	ADR	17040V107	344	37,568	SH		SOLE	0	37,568	0	0
Chubb	Common Stock	171232101	756	8,925	SH		SOLE	0	8,925	0	0
Chunghwa Telecom ADS	ADR	17133Q502	18,287	569,506	SH		SOLE	0	569,506	0	0
Church & Dwight	Common Stock	171340102	49,874	808,200	SH		SOLE	0	808,200	0	0
Cisco Systems	Common Stock	17275R102	49,460	2,032,448	SH		SOLE	0	2,032,448	0	0
Clorox	Common Stock	189054109	39,588	476,165	SH		SOLE	0	476,165	0	0
CNOOC Ltd ADS	ADR	126132109	419	2,500	SH		SOLE	0	2,500	0	0
Coach	Common Stock	189754104	502	8,800	SH		SOLE	0	8,800	0	0
Coca-Cola Co	Common Stock	191216100	54	1,340	SH		SOLE	0	1,340	0	0
Coca-Cola Femsa ADS	ADR	191241108	4,220	30,084	SH		SOLE	0	30,084	0	0
Coeur Mining	Common Stock	192108504	226	17,000	SH		SOLE	0	17,000	0	0
Colgate-Palmolive	Common Stock	194162103	34,884	608,908	SH		SOLE	0	608,908	0	0
Companhia de Bebidas PR ADS	ADR	20441W203	75	2,000	SH		SOLE	0	2,000	0	0
Companhia Paranaense de Energia	ADR	20441B407	62	5,000	SH		SOLE	0	5,000	0	0
Comtech Communications	Common Stock	205826209	27	1,000	SH		SOLE	0	1,000	0	0
ConocoPhillips	Common Stock	20825C104	21,246	351,172	SH		SOLE	0	351,172	0	0
Convergys	Common Stock	212485106	12,736	730,700	SH		SOLE	0	730,700	0	0
Copa Holdings, Cl A	Common Stock	P31076105	6,556	50,000	SH		SOLE	0	50,000	0	0
Corning	Common Stock	219350105	4	300	SH		SOLE	0	300	0	0
Corp Office Props Trust CLASS H	Preferred Stock	22002T603	25	1,000	SH		SOLE	0	1,000	0	0
Costco Wholesale	Common Stock	22160K105	332	3,000	SH		SOLE	0	3,000	0	0
CPFL Energia ADS	ADR	126153105	2,195	120,000	SH		SOLE	0	120,000	0	0
Crane	Common Stock	224399105	17,976	300,000	SH		SOLE	0	300,000	0	0
CVS Caremark	Common Stock	126650100	572	10,000	SH		SOLE	0	10,000	0	0
Danaher	Common Stock	235851102	25	400	SH		SOLE	0	400	0	0
Danone ADS	ADR	23636T100	6,675	444,974	SH		SOLE	0	444,974	0	0
Dassault Systems ADR	ADR	237545108	3,679	30,000	SH		SOLE	0	30,000	0	0
DE Master Blenders	Common Stock	N2563N109	7	444	SH		SOLE	0	444	0	0
DealerTrack Holdings	Common Stock	242309102	5	141	SH		SOLE	0	141	0	0
Delta Air Lines	Common Stock	247361702	748	40,000	SH		SOLE	0	40,000	0	0
Dentsply International	Common Stock	249030107	28,727	701,340	SH		SOLE	0	701,340	0	0
Devon Energy	Common Stock	25179M103	62	1,200	SH		SOLE	0	1,200	0	0
Diebold	Common Stock	253651103	27	800	SH		SOLE	0	800	0	0
Disney (Walt)	Common Stock	254687106	9	145	SH		SOLE	0	145	0	0
Dominion Resources Inc./VA	Common Stock	25746U109	7	120	SH		SOLE	0	120	0	0
Donnelley (RR) & Sons	Common Stock	257867101	118	8,424	SH		SOLE	0	8,424	0	0
Dow Chemical	Common Stock	260543103	59	1,842	SH		SOLE	0	1,842	0	0
Dr Pepper Snapple	Common Stock	26138E109	184	4,000	SH		SOLE	0	4,000	0	0
Dr. Reddy's Laboratories ADS	ADR	256135203	492	13,000	SH		SOLE	0	13,000	0	0
Dreamworks Animation	Common Stock	26153C103	8	330	SH		SOLE	0	330	0	0
Duke Energy	Common Stock	26441C204	458	6,783	SH		SOLE	0	6,783	0	0
Duke Realty	Common Stock	264411505	139	8,900	SH		SOLE	0	8,900	0	0
Dun & Bradstreet	Common Stock	26483E100	14,618	150,000	SH		SOLE	0	150,000	0	0
E.I. du Pont de Nemours	Common Stock	263534109	21,102	401,950	SH		SOLE	0	401,950	0	0
E.ON ADR	ADR	268780103	86	5,200	SH		SOLE	0	5,200	0	0
eBay	Common Stock	278642103	569	11,000	SH		SOLE	0	11,000	0	0
Edison International	Common Stock	281020107	52	1,080	SH		SOLE	0	1,080	0	0
Eli Lilly	Common Stock	532457108	63,147	1,285,565	SH		SOLE	0	1,285,565	0	0
Embraer SA ADR	ADR	29082A107	216	5,862	SH		SOLE	0	5,862	0	0
EMCOR	Common Stock	29084Q100	28,455	700,000	SH		SOLE	0	700,000	0	0
Emerson Electric	Common Stock	291011104	24,543	450,000	SH		SOLE	0	450,000	0	0
Emulex	Common Stock	292475209	7	1,000	SH		SOLE	0	1,000	0	0
Enbridge Energy Partners LP	Common Stock	29250R106	1,041	34,151	SH		SOLE	0	34,151	0	0
EnCana	Common Stock	292505104	17,024	1,004,958	SH		SOLE	0	1,004,958	0	0
Enersis ADS	ADR	29274F104	4,090	250,000	SH		SOLE	0	250,000	0	0
Eni SpA ADS	ADR	26874R108	2,052	50,000	SH		SOLE	0	50,000	0	0
Entergy MISS 1st MTG	Preferred Stock	29364N876	25	1,000	SH		SOLE	0	1,000	0	0
EOG Resources	Common Stock	26875P101	64	485	SH		SOLE	0	485	0	0
Estee Lauder, Cl A	Common Stock	518439104	42,093	640,000	SH		SOLE	0	640,000	0	0
Expedia Inc. - Cl A	Common Stock	30212P303	34	561	SH		SOLE	0	561	0	0
Express Scripts Holding	Common Stock	30219G108	40,443	655,050	SH		SOLE	0	655,050	0	0
Exxon Mobil	Common Stock	30231G102	32,569	360,474	SH		SOLE	0	360,474	0	0
F5 Networks	Common Stock	315616102	7,553	109,778	SH		SOLE	0	109,778	0	0
Facebook	Common Stock	30303M102	58	2,321	SH		SOLE	0	2,321	0	0
Fastenal	Common Stock	311900104	36,826	804,240	SH		SOLE	0	804,240	0	0
Fibria Celulose ADR	ADR	31573A109	1,664	150,000	SH		SOLE	0	150,000	0	0
First Solar	Common Stock	336433107	231	5,161	SH		SOLE	0	5,161	0	0
Fiserv	Common Stock	337738108	39	450	SH		SOLE	0	450	0	0
Flextronics International	Common Stock	Y2573F102	8	1,000	SH		SOLE	0	1,000	0	0
FLIR Systems	Common Stock	302445101	54	2,000	SH		SOLE	0	2,000	0	0
Fomento Economico Mex ADS	ADR	344419106	3,096	30,000	SH		SOLE	0	30,000	0	0
Ford Motor	Common Stock	345370860	541	35,000	SH		SOLE	0	35,000	0	0
FPL Group Capital Trust I	Preferred Stock	30257v207	28	1,100	SH		SOLE	0	1,100	0	0
Freeport-McMoRan Copper & Gold	Common Stock	35671D857	13,105	474,632	SH		SOLE	0	474,632	0	0
Frontier Communictions	Common Stock	35906A108	0	70	SH		SOLE	0	70	0	0
Furiex Pharmaceuticals	Common Stock	36106P101	15	433	SH		SOLE	0	433	0	0
Gartner	Common Stock	366651107	17,179	301,441	SH		SOLE	0	301,441	0	0
GDF Suez ADS	ADR	36160B105	53	2,725	SH		SOLE	0	2,725	0	0
General Electric	Common Stock	369604103	390	16,800	SH		SOLE	0	16,800	0	0
General Mills	Common Stock	370334104	29,498	607,838	SH		SOLE	0	607,838	0	0
Gentex	Common Stock	371901109	16,181	702,000	SH		SOLE	0	702,000	0	0
Genuine Parts	Common Stock	372460105	41,100	526,450	SH		SOLE	0	526,450	0	0
Georgia Power CO Cl A PFD 6.125%	Preferred Stock	373334473	105	4,000	SH		SOLE	0	4,000	0	0
Gilead Sciences	Common Stock	375558103	164	3,200	SH		SOLE	0	3,200	0	0
GlaxoSmithKline ADS	ADR	37733W105	33,377	667,950	SH		SOLE	0	667,950	0	0
Global Payments Inc	Common Stock	37940X102	18	382	SH		SOLE	0	382	0	0
Gold Fields Ltd ADS	ADR	38059T106	173	33,000	SH		SOLE	0	33,000	0	0
Google	Common Stock	38259P508	76,200	86,555	SH		SOLE	0	86,555	0	0
Great Plains Energy Inc.	Common Stock	391164100	4	197	SH		SOLE	0	197	0	0
Hain Celestial Group	Common Stock	405217100	306	4,700	SH		SOLE	0	4,700	0	0
Harman International Industries	Common Stock	413086109	119	2,200	SH		SOLE	0	2,200	0	0
Harris	Common Stock	413875105	34,705	704,660	SH		SOLE	0	704,660	0	0
HCP	Common Stock	40414L109	17	381	SH		SOLE	0	381	0	0
Health Care Property	Common Stock	42217K106	20	302	SH		SOLE	0	302	0	0
Hewlett-Packard	Common Stock	428236103	12	500	SH		SOLE	0	500	0	0
Hillshire Brands	Common Stock	432589109	3	88	SH		SOLE	0	88	0	0
Home Depot	Common Stock	437076102	37	475	SH		SOLE	0	475	0	0
Honeywell International	Common Stock	438516106	34,298	432,295	SH		SOLE	0	432,295	0	0
Hong Kong & China Gas ADS	ADR	438550303	329	132,000	SH		SOLE	0	132,000	0	0
Hospira	Common Stock	441060100	5	130	SH		SOLE	0	130	0	0
HSN	Common Stock	404303109	12	224	SH		SOLE	0	224	0	0
Hudson Technologies	Common Stock	444144109	26	8,046	SH		SOLE	0	8,046	0	0
Humana	Common Stock	444859102	25,833	306,153	SH		SOLE	0	306,153	0	0
Hutchison Whampoa ADR	ADR	448415208	4	192	SH		SOLE	0	192	0	0
IAC/InterActiveCorp	Common Stock	44919P508	27	561	SH		SOLE	0	561	0	0
Idacorp	Common Stock	451107106	948	19,850	SH		SOLE	0	19,850	0	0
Illinois Tool Works	Common Stock	452308109	35,548	513,925	SH		SOLE	0	513,925	0	0
Impala Platinum ADR	ADR	452553308	149	16,000	SH		SOLE	0	16,000	0	0
Infosys ADS	ADR	456788108	28,833	700,000	SH		SOLE	0	700,000	0	0
ING Groep, 8.5% Preferred	Preferred Stock	456837806	127	5,000	SH		SOLE	0	5,000	0	0
Integrated Device Technology	Common Stock	458118106	32	4,030	SH		SOLE	0	4,030	0	0
Intel	Common Stock	458140100	70,701	2,917,930	SH		SOLE	0	2,917,930	0	0
International Business Machines	Common Stock	459200101	49,532	259,180	SH		SOLE	0	259,180	0	0
Interval Leisure Group	Common Stock	46113M108	4	224	SH		SOLE	0	224	0	0
Intuit	Common Stock	461202103	56,937	932,774	SH		SOLE	0	932,774	0	0
Invesco	Common Stock	G491BT108	318	10,000	SH		SOLE	0	10,000	0	0
Iron Mountain	Common Stock	462846106	13	496	SH		SOLE	0	496	0	0
ishares Russell 2000	Common Stock	464287655	23	238	SH		SOLE	0	238	0	0
Itau Unibanco Holding ADS	ADR	465562106	85	6,600	SH		SOLE	0	6,600	0	0
JM Smucker	Common Stock	832696405	25,823	250,340	SH		SOLE	0	250,340	0	0
John Wiley & Sons	Common Stock	968223206	4,009	100,000	SH		SOLE	0	100,000	0	0
Johnson & Johnson	Common Stock	478160104	82,652	962,636	SH		SOLE	0	962,636	0	0
Johnson Controls	Common Stock	478366107	21,474	600,000	SH		SOLE	0	600,000	0	0
JP Morgan Chase	Common Stock	46625H100	139	2,640	SH		SOLE	0	2,640	0	0
JPM Chase Capital, Pfd C 6.70%	Preferred Stock	48125E207	127	5,000	SH		SOLE	0	5,000	0	0
Kellogg	Common Stock	487836108	29,957	466,400	SH		SOLE	0	466,400	0	0
Key	Common Stock	493267108	14	1,272	SH		SOLE	0	1,272	0	0
Kimberly-Clark	Common Stock	494368103	29,443	303,095	SH		SOLE	0	303,095	0	0
Kinder Morgan Energy Partners	Common Stock	494550106	350	4,100	SH		SOLE	0	4,100	0	0
Knight Transportation	Common Stock	499064103	21	1,237	SH		SOLE	0	1,237	0	0
Kohl's	Common Stock	500255104	20	400	SH		SOLE	0	400	0	0
Korea Electric Power ADS	ADR	500631106	226	20,000	SH		SOLE	0	20,000	0	0
LATAM Airlines ADS	ADR	51817R106	14,849	879,136	SH		SOLE	0	879,136	0	0
Li & Fung Ltd.	Common Stock	G5485F169	11	8,000	SH		SOLE	0	8,000	0	0
Life Technologies	Common Stock	53217V109	27	363	SH		SOLE	0	363	0	0
Lifepoint Hospitals	Common Stock	53219L109	28	581	SH		SOLE	0	581	0	0
Lincoln Electric Holdings	Common Stock	533900106	29,437	514,000	SH		SOLE	0	514,000	0	0
Lincoln National	Common Stock	534187109	6	177	SH		SOLE	0	177	0	0
Lowe's	Common Stock	548661107	33,180	811,240	SH		SOLE	0	811,240	0	0
Mattel	Common Stock	577081102	9,522	210,150	SH		SOLE	0	210,150	0	0
McCormick & Co	Common Stock	579780206	21,284	302,500	SH		SOLE	0	302,500	0	0
McGraw-Hill	Common Stock	580645109	32	606	SH		SOLE	0	606	0	0
Mead Johnson Nutrition	Common Stock	582839106	1,205	15,208	SH		SOLE	0	15,208	0	0
Memorial Production Partners	Common Stock	586048100	392	20,000	SH		SOLE	0	20,000	0	0
MercadoLibre	Common Stock	58733R102	1,832	17,000	SH		SOLE	0	17,000	0	0
Merck & Co	Common Stock	58933Y105	206	4,445	SH		SOLE	0	4,445	0	0
Methanex	Common Stock	59151K108	13,776	321,600	SH		SOLE	0	321,600	0	0
Metso ADS	ADR	592671101	580	17,100	SH		SOLE	0	17,100	0	0
Microchip Technology	Common Stock	595017104	23,436	629,155	SH		SOLE	0	629,155	0	0
Microsoft	Common Stock	594918104	34,993	1,012,979	SH		SOLE	0	1,012,979	0	0
MicroSoft Jan 18 2014 CALL 27	Option, equity	99qabf3x6	21	2,700	SH		SOLE	0	2,700	0	0
Middleby	Common Stock	596278101	340	2,000	SH		SOLE	0	2,000	0	0
Millicom Intl Cellular SA	Common Stock	L6388F110	7	103	SH		SOLE	0	103	0	0
Mindray Medical International ADS	ADR	602675100	375	10,000	SH		SOLE	0	10,000	0	0
Mitsubishi UFJ Financial ADS	ADR	606822104	3,105	500,000	SH		SOLE	0	500,000	0	0
Monster Beverage	Common Stock	611740101	31,762	522,150	SH		SOLE	0	522,150	0	0
Moody's	Common Stock	615369105	466	7,655	SH		SOLE	0	7,655	0	0
Morgan Stanley Cap Tr, Cum Pfd	Preferred Stock	61750K208	112	4,500	SH		SOLE	0	4,500	0	0
Morningstar	Common Stock	617700109	78	1,000	SH		SOLE	0	1,000	0	0
Motorola Solutions	Common Stock	620076307	5	95	SH		SOLE	0	95	0	0
MTN Group LTD - Spons ADR	ADR	62474M108	224	12,100	SH		SOLE	0	12,100	0	0
National Fuel Gas	Common Stock	636180101	9,852	170,000	SH		SOLE	0	170,000	0	0
National Grid PLC ADS	ADR	636274300	438	7,735	SH		SOLE	0	7,735	0	0
Nestle's S.A.	Common Stock	641069406	56	852	SH		SOLE	0	852	0	0
Newcrest Mining ADS	ADR	651191108	846	89,301	SH		SOLE	0	89,301	0	0
News Corporation	Common Stock	90130A101	11	330	SH		SOLE	0	330	0	0
NextEra Energy	Common Stock	65339F101	102	1,250	SH		SOLE	0	1,250	0	0
Nextera Energy Capital	Preferred Stock	65339K506	53	2,000	SH		SOLE	0	2,000	0	0
Nice Systems ADS	ADR	653656108	2,951	80,000	SH		SOLE	0	80,000	0	0
Nidec ADS	ADR	654090109	468	26,703	SH		SOLE	0	26,703	0	0
Nike, Cl B	Common Stock	654106103	39,626	622,270	SH		SOLE	0	622,270	0	0
Nintendo	ADR	654445303	1	86	SH		SOLE	0	86	0	0
Nippon Indosari Corpindo	Common Stock	Y712AA109	29	37,500	SH		SOLE	0	37,500	0	0
NiSource	Common Stock	65473P105	11	387	SH		SOLE	0	387	0	0
Nissan Motor ADS	ADR	654744408	2,470	121,500	SH		SOLE	0	121,500	0	0
Noble	Common Stock	H5833N103	724	19,262	SH		SOLE	0	19,262	0	0
Noble Energy	Common Stock	655044105	26	436	SH		SOLE	0	436	0	0
Nordstrom	Common Stock	655664100	312	5,200	SH		SOLE	0	5,200	0	0
Norfolk Southern	Common Stock	655844108	37,328	513,800	SH		SOLE	0	513,800	0	0
Northern Trust	Common Stock	665859104	58	1,000	SH		SOLE	0	1,000	0	0
Novartis ADS	ADR	66987V109	83,569	1,181,853	SH		SOLE	0	1,181,853	0	0
Novo Nordisk ADS	ADR	670100205	38,112	245,930	SH		SOLE	0	245,930	0	0
Novozymes A/S ADR	ADR	670108109	64	2,000	SH		SOLE	0	2,000	0	0
NRG Energy	Common Stock	629377508	80	3,000	SH		SOLE	0	3,000	0	0
Nucor	Common Stock	670346105	8,857	204,450	SH		SOLE	0	204,450	0	0
NY Community Bancorp	Common Stock	649445103	84	6,000	SH		SOLE	0	6,000	0	0
Oracle	Common Stock	68389X105	44,311	1,442,888	SH		SOLE	0	1,442,888	0	0
Orange SA	ADR	684060106	56	5,900	SH		SOLE	0	5,900	0	0
Orient-Express Hotels, A	Common Stock	G67743107	3,770	310,000	SH		SOLE	0	310,000	0	0
PAREXEL International	Common Stock	699462107	184	4,000	SH		SOLE	0	4,000	0	0
Parker Hannifin	Common Stock	701094104	26,283	275,500	SH		SOLE	0	275,500	0	0
Patterson - UTI Energy	Common Stock	703481101	139	7,200	SH		SOLE	0	7,200	0	0
Peabody Energy	Common Stock	704549104	1	57	SH		SOLE	0	57	0	0
Pearson ADS	ADR	705015105	7,144	398,890	SH		SOLE	0	398,890	0	0
Pennsylvania REIT	Common Stock	709102107	7	350	SH		SOLE	0	350	0	0
PepsiCo	Common Stock	713448108	83,462	1,020,438	SH		SOLE	0	1,020,438	0	0
Petroleo Brasileiro ADS	ADR	71654V408	1,203	89,700	SH		SOLE	0	89,700	0	0
PetSmart	Common Stock	716768106	47,667	711,560	SH		SOLE	0	711,560	0	0
Pfizer	Common Stock	717081103	34,766	1,241,217	SH		SOLE	0	1,241,217	0	0
Philippine Long Distance ADS	ADR	718252604	285	4,200	SH		SOLE	0	4,200	0	0
Phillips 66	Common Stock	718546104	10,164	172,534	SH		SOLE	0	172,534	0	0
Piedmont Natural Gas	Common Stock	720186105	270	8,000	SH		SOLE	0	8,000	0	0
PIMCO Commercial Mortgage Secs	Common Stock	69323T101	12	1,000	SH		SOLE	0	1,000	0	0
Pitney Bowes	Common Stock	724479100	5	350	SH		SOLE	0	350	0	0
Plum Creek Timber	Common Stock	729251108	534	11,443	SH		SOLE	0	11,443	0	0
PNC Bank	Common Stock	693475105	99	1,355	SH		SOLE	0	1,355	0	0
Polycom	Common Stock	73172K104	34	3,260	SH		SOLE	0	3,260	0	0
Portugal Telecom SGPS ADS	ADR	737273102	67	17,000	SH		SOLE	0	17,000	0	0
Potash Corp of Saskatchewan	Common Stock	73755L107	38,323	1,005,071	SH		SOLE	0	1,005,071	0	0
Power Solutions International Inc.	Common Stock	73933G202	149	4,446	SH		SOLE	0	4,446	0	0
PPG Industries	Common Stock	693506107	29,282	200,000	SH		SOLE	0	200,000	0	0
Praxair	Common Stock	74005P104	25,522	221,625	SH		SOLE	0	221,625	0	0
Precision Drilling	Common Stock	74022D308	25	2,970	SH		SOLE	0	2,970	0	0
Procter & Gamble	Common Stock	742718109	31,468	408,732	SH		SOLE	0	408,732	0	0
Public Storage International	Common Stock	74460D109	178	1,159	SH		SOLE	0	1,159	0	0
Qualcomm	Common Stock	747525103	50,829	832,033	SH		SOLE	0	832,033	0	0
Quimica y Minera Chile ADS	ADR	833635105	1,858	46,000	SH		SOLE	0	46,000	0	0
Raymond James Financial	Common Stock	754730109	307	7,138	SH		SOLE	0	7,138	0	0
Raytheon	Common Stock	755111507	29	444	SH		SOLE	0	444	0	0
Regal-Beloit	Common Stock	758750103	26,299	405,600	SH		SOLE	0	405,600	0	0
Regions Financial	Common Stock	7591EP100	13	1,329	SH		SOLE	0	1,329	0	0
Rio Tinto PLC ADS	ADR	767204100	313	7,628	SH		SOLE	0	7,628	0	0
Robinson Department Store PCL	Common Stock	Y7318V130	21	10,800	SH		SOLE	0	10,800	0	0
Rockwell Automation	Common Stock	773903109	27,021	325,000	SH		SOLE	0	325,000	0	0
Royal Dutch Shell ADS	ADR	780259206	166	2,600	SH		SOLE	0	2,600	0	0
RPM International	Common Stock	749685103	5,874	183,900	SH		SOLE	0	183,900	0	0
Ryanair Holdings ADS	ADR	783513104	1,031	20,000	SH		SOLE	0	20,000	0	0
Sabana Shariah Comp Indl REIT	Common Stock	Y7368R104	891	978,500	SH		SOLE	0	978,500	0	0
SanDisk	Common Stock	80004C101	22,625	370,300	SH		SOLE	0	370,300	0	0
Sanmina	Common Stock	801056102	6	405	SH		SOLE	0	405	0	0
Sanofi ADS	ADR	80105N105	2,644	51,337	SH		SOLE	0	51,337	0	0
Santander 10.5% Pfd Series 10	Preferred Stock	E8683R144	108	4,000	SH		SOLE	0	4,000	0	0
SAP ADS	ADR	803054204	47,471	651,800	SH		SOLE	0	651,800	0	0
Sasol ADS	ADR	803866300	455	10,500	SH		SOLE	0	10,500	0	0
Schlumberger Ltd	Common Stock	806857108	218	3,045	SH		SOLE	0	3,045	0	0
Sempra Energy	Common Stock	816851109	666	8,140	SH		SOLE	0	8,140	0	0
Semtech	Common Stock	816850101	47	1,330	SH		SOLE	0	1,330	0	0
Senior Housing PPTYS Trust	Common Stock	81721M109	254	9,800	SH		SOLE	0	9,800	0	0
Shire ADS	ADR	82481r106	3,044	32,000	SH		SOLE	0	32,000	0	0
Sibanye Gold Ltd ADS	ADR	825724206	24	8,250	SH		SOLE	0	8,250	0	0
Simon Property Group	Common Stock	828806109	162	1,026	SH		SOLE	0	1,026	0	0
Singapore Telecom ADR	ADR	82929R304	315	10,600	SH		SOLE	0	10,600	0	0
SK Telecom ADS	ADR	78440P108	736	36,200	SH		SOLE	0	36,200	0	0
Southern Copper	Common Stock	84265V105	414	15,000	SH		SOLE	0	15,000	0	0
Southwest Airlines	Common Stock	844741108	13	1,000	SH		SOLE	0	1,000	0	0
SPDR Gold Trust GS	Common Stock	78463V107	40	337	SH		SOLE	0	337	0	0
SPDR S&P Midcap 400 ETF	Common Stock	78467Y107	21	99	SH		SOLE	0	99	0	0
Spectra Energy	Common Stock	847560109	664	19,258	SH		SOLE	0	19,258	0	0
Stage Stores	Common Stock	85254C305	82	3,487	SH		SOLE	0	3,487	0	0
Stanley Black & Decker	Common Stock	854502101	8,043	104,046	SH		SOLE	0	104,046	0	0
Staples	Common Stock	855030102	5	301	SH		SOLE	0	301	0	0
State Street	Common Stock	857477103	34	528	SH		SOLE	0	528	0	0
Statoil ADS	ADR	85771P102	1,318	63,703	SH		SOLE	0	63,703	0	0
Stericycle	Common Stock	858912108	29	260	SH		SOLE	0	260	0	0
Stryker	Common Stock	863667101	19,421	300,270	SH		SOLE	0	300,270	0	0
Suburban Propane Partners LP	Common Stock	864482104	302	6,500	SH		SOLE	0	6,500	0	0
Suncor Energy	Common Stock	867224107	20,643	700,000	SH		SOLE	0	700,000	0	0
SunOpta	Common Stock	8676EP108	36	4,743	SH		SOLE	0	4,743	0	0
Swire Pac LTD	ADR	870794302	2	169	SH		SOLE	0	169	0	0
Synchronoss Technologies	Common Stock	87157B103	463	15,000	SH		SOLE	0	15,000	0	0
T. Rowe Price Group Inc.	Common Stock	74144T108	77	1,050	SH		SOLE	0	1,050	0	0
Taiwan Semiconductor ADS	ADR	874039100	51,051	2,786,628	SH		SOLE	0	2,786,628	0	0
Target	Common Stock	87612E106	21	300	SH		SOLE	0	300	0	0
Tata Motors ADS	ADR	876568502	1,314	56,042	SH		SOLE	0	56,042	0	0
TCW Convertible Securities Fund	Common Stock	872340104	2	375	SH		SOLE	0	375	0	0
Teck Resources LTD	Common Stock	878742204	2,379	111,338	SH		SOLE	0	111,338	0	0
Teekay LNG Partners LP	Common Stock	Y8564M105	575	13,150	SH		SOLE	0	13,150	0	0
Telecom New Zealand ADS	ADR	879278208	467	54,266	SH		SOLE	0	54,266	0	0
Telefonica ADS	ADR	879382208	2,874	224,393	SH		SOLE	0	224,393	0	0
Telefonica Brasil S.A. ADS	ADR	87936R106	1,500	65,750	SH		SOLE	0	65,750	0	0
Telekom Austria AG ADR	ADR	87943Q109	2	148	SH		SOLE	0	148	0	0
Telekomunikasi Indonesia ADS	ADR	715684106	1,158	27,100	SH		SOLE	0	27,100	0	0
Telenor ASA ADR	ADR	87944W105	101	1,706	SH		SOLE	0	1,706	0	0
Telephone & Data Sys 6.625% Pfd	Preferred Stock	879433852	52	2,100	SH		SOLE	0	2,100	0	0
Telstra ADR	ADR	87969N204	3,451	158,000	SH		SOLE	0	158,000	0	0
Telus	Common Stock	87971M103	8,056	276,000	SH		SOLE	0	276,000	0	0
Tenaris ADS	ADR	88031M109	5,316	132,000	SH		SOLE	0	132,000	0	0
Teva Pharmaceutical Industries ADS	ADR	881624209	1,983	50,589	SH		SOLE	0	50,589	0	0
TJX Companies	Common Stock	872540109	45,282	904,550	SH		SOLE	0	904,550	0	0
Toronto-Dominion Bank	Common Stock	891160509	3,727	46,372	SH		SOLE	0	46,372	0	0
Total SA ADS	ADR	89151E109	20,780	426,700	SH		SOLE	0	426,700	0	0
Toyota Motor ADS	ADR	892331307	5,154	42,715	SH		SOLE	0	42,715	0	0
Transocean	Common Stock	H8817H100	4	78	SH		SOLE	0	78	0	0
Trimble Navigation	Common Stock	896239100	45,838	1,763,678	SH		SOLE	0	1,763,678	0	0
TripAdvisor	Common Stock	896945201	34	561	SH		SOLE	0	561	0	0
Turkcell Iletisim Hizmetleri ADS	ADR	900111204	1,293	90,000	SH		SOLE	0	90,000	0	0
U S Global Investors, CL A	Common Stock	902952100	39	18,614	SH		SOLE	0	18,614	0	0
Ultralife Batteries	Common Stock	903899102	36	10,000	SH		SOLE	0	10,000	0	0
Unilever ADS	ADR	904767704	16,801	415,350	SH		SOLE	0	415,350	0	0
Unilever N.V.	Common Stock	904784709	534	13,584	SH		SOLE	0	13,584	0	0
Union Pacific	Common Stock	907818108	44,313	287,222	SH		SOLE	0	287,222	0	0
United Parcel Service	Common Stock	911312106	70,984	820,812	SH		SOLE	0	820,812	0	0
United Technologies	Common Stock	913017109	23,402	251,797	SH		SOLE	0	251,797	0	0
UnitedHealth Group	Common Stock	91324P102	310	4,730	SH		SOLE	0	4,730	0	0
Urban Outfitters	Common Stock	917047102	20,110	500,000	SH		SOLE	0	500,000	0	0
US Bancorp	Common Stock	902973304	52	1,430	SH		SOLE	0	1,430	0	0
Vale ADS	ADR	91912E105	1,611	122,500	SH		SOLE	0	122,500	0	0
Valmont Industries	Common Stock	920253101	558	3,900	SH		SOLE	0	3,900	0	0
VCA Antech	Common Stock	918194101	17,715	679,000	SH		SOLE	0	679,000	0	0
Verizon Communications	Common Stock	92343V104	15	295	SH		SOLE	0	295	0	0
VF Corp	Common Stock	918204108	579	3,000	SH		SOLE	0	3,000	0	0
Vodafone Group ADS	ADR	92857W209	11,074	385,244	SH		SOLE	0	385,244	0	0
W.W. Grainger	Common Stock	384802104	38,271	151,760	SH		SOLE	0	151,760	0	0
Walgreen	Common Stock	931422109	79	1,794	SH		SOLE	0	1,794	0	0
Waste Connections	Common Stock	941053100	20	496	SH		SOLE	0	496	0	0
Weatherford International	Common Stock	H27013103	35	2,580	SH		SOLE	0	2,580	0	0
Wells Fargo & Co	Common Stock	949746101	96	2,315	SH		SOLE	0	2,315	0	0
Western Digital	Common Stock	958102105	1,304	21,000	SH		SOLE	0	21,000	0	0
Whistler Blackcomb Holdings	Common Stock	96336D955	160	12,000	SH		SOLE	0	12,000	0	0
Whiting Petroleum	Common Stock	966387102	406	8,800	SH		SOLE	0	8,800	0	0
Williams Companies	Common Stock	969457100	114	3,500	SH		SOLE	0	3,500	0	0
Wolverine World Wide	Common Stock	978097103	28	517	SH		SOLE	0	517	0	0
Worthington Industries	Common Stock	981811102	48	1,500	SH		SOLE	0	1,500	0	0
Wright Express Corp	Common Stock	96208T104	25	322	SH		SOLE	0	322	0	0
Xcel Energy	Common Stock	98389B100	5	172	SH		SOLE	0	172	0	0
Xilinx	Common Stock	983919101	23,766	600,000	SH		SOLE	0	600,000	0	0
Zebra Technologies, Cl A	Common Stock	989207105	35	817	SH		SOLE	0	817	0	0
Zimmer	Common Stock	98956P102	15,439	206,020	SH		SOLE	0	206,020	0	0