Dividend Assets 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

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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 CO	COM	88579Y101	268	2,244	SH		SOLE		2,244	0	0
ABBVIE INC	COM	00287Y109	201	4,488	SH		SOLE		4,488	0	0
ACCESS MIDSTREAM PARTNERS L	UNIT	00434L109	23,011	476,311	SH		SOLE		476,311	0	0
AFLAC INC	COM	001055102	1,090	17,590	SH		SOLE		17,590	0	0
AIR PRODS & CHEMS INC	COM	009158106	285	2,676	SH		SOLE		2,676	0	0
ALLIANCE RES PARTNER L P	UT LTD PART	01877R108	377	5,080	SH		SOLE		5,080	0	0
ALPS ETF TR	ALERIAN MLP	00162Q866	1,723	97,950	SH		SOLE		97,950	0	0
APPLE INC	COM	037833100	33	70	SH		DFND		70	0	0
APPLE INC	COM	037833100	349	732	SH		SOLE		732	0	0
APTARGROUP INC	COM	038336103	831	13,820	SH		SOLE		13,820	0	0
AT&T INC	COM	00206R102	3	102	SH		DFND		102	0	0
AT&T INC	COM	00206R102	622	18,384	SH		SOLE		18,384	0	0
AUTOMATIC DATA PROCESSING IN	COM	053015103	60,947	842,038	SH		SOLE		842,038	0	0
BALL CORP	COM	058498106	528	11,760	SH		SOLE		11,760	0	0
BANK OF AMERICA CORPORATION	COM	060505104	212	15,327	SH		SOLE		15,327	0	0
BANK OF THE OZARKS INC	COM	063904106	5	100	SH		DFND		100	0	0
BANK OF THE OZARKS INC	COM	063904106	2,354	49,095	SH		SOLE		49,095	0	0
BECTON DICKINSON & CO	COM	075887109	223	2,230	SH		SOLE		2,230	0	0
BIOGEN IDEC INC	COM	09062X103	507	2,106	SH		SOLE		2,106	0	0
BOEING CO	COM	097023105	609	5,180	SH		SOLE		5,180	0	0
BP PLC	SPONSORED ADR	055622104	216	5,129	SH		SOLE		5,129	0	0
BREITBURN ENERGY PARTNERS LP	COM UT LTD PTN	106776107	3,309	180,507	SH		SOLE		180,507	0	0
BRISTOL MYERS SQUIBB CO	COM	110122108	266	5,749	SH		SOLE		5,749	0	0
CALUMET SPECIALTY PRODS PTNR	UT LTD PARTNER	131476103	689	25,260	SH		SOLE		25,260	0	0
CALUMET SPECIALTY PRODS PTNR	UT LTD PARTNER	131476103	5	200	SH		DFND		200	0	0
CANADIAN NATL RY CO	COM	136375102	108	1,065	SH		DFND		1,065	0	0
CANADIAN NATL RY CO	COM	136375102	63,174	623,200	SH		SOLE		623,200	0	0
CARDINAL HEALTH INC	COM	14149Y108	62,770	1,203,646	SH		SOLE		1,203,646	0	0
CATERPILLAR INC DEL	COM	149123101	291	3,485	SH		SOLE		3,485	0	0
CHEVRON CORP NEW	COM	166764100	1,734	14,270	SH		SOLE		14,270	0	0
CHURCH & DWIGHT INC	COM	171340102	63,217	1,052,747	SH		SOLE		1,052,747	0	0
COCA COLA CO	COM	191216100	637	16,828	SH		SOLE		16,828	0	0
COLGATE PALMOLIVE CO	COM	194162103	593	10,004	SH		SOLE		10,004	0	0
CONOCOPHILLIPS	COM	20825C104	320	4,598	SH		SOLE		4,598	0	0
DANAHER CORP DEL	COM	235851102	2	30	SH		DFND		30	0	0
DANAHER CORP DEL	COM	235851102	57,874	834,879	SH		SOLE		834,879	0	0
DCP MIDSTREAM PARTNERS LP	COM UT LTD PTN	23311P100	1,310	26,380	SH		SOLE		26,380	0	0
DELEK LOGISTICS PARTNERS LP	COM UNT RP INT	24664T103	286	9,350	SH		SOLE		9,350	0	0
DISNEY WALT CO	COM DISNEY	254687106	3	48	SH		DFND		48	0	0
DISNEY WALT CO	COM DISNEY	254687106	369	5,722	SH		SOLE		5,722	0	0
DOMINION RES INC VA NEW	COM	25746U109	359	5,751	SH		SOLE		5,751	0	0
DU PONT E I DE NEMOURS & CO	COM	263534109	239	4,077	SH		SOLE		4,077	0	0
ECOLAB INC	COM	278865100	104	1,050	SH		DFND		1,050	0	0
ECOLAB INC	COM	278865100	69,143	700,108	SH		SOLE		700,108	0	0
EL PASO PIPELINE PARTNERS L	COM UNIT LPI	283702108	127	3,000	SH		DFND		3,000	0	0
EL PASO PIPELINE PARTNERS L	COM UNIT LPI	283702108	40,837	967,253	SH		SOLE		967,253	0	0
EMERSON ELEC CO	COM	291011104	731	11,296	SH		SOLE		11,296	0	0
ENBRIDGE ENERGY PARTNERS L P	COM	29250R106	15,939	523,440	SH		SOLE		523,440	0	0
ENERGY TRANSFER EQUITY L P	COM UT LTD PTN	29273V100	132	2,000	SH		DFND		2,000	0	0
ENERGY TRANSFER EQUITY L P	COM UT LTD PTN	29273V100	45,307	688,761	SH		SOLE		688,761	0	0
ENERGY TRANSFER PRTNRS L P	UNIT LTD PARTN	29273R109	104	2,000	SH		DFND		2,000	0	0
ENERGY TRANSFER PRTNRS L P	UNIT LTD PARTN	29273R109	11,641	223,572	SH		SOLE		223,572	0	0
ENTERPRISE PRODS PARTNERS L	COM	293792107	454	7,445	SH		DFND		7,445	0	0
ENTERPRISE PRODS PARTNERS L	COM	293792107	73,893	1,210,574	SH		SOLE		1,210,574	0	0
EOG RES INC	COM	26875P101	6	35	SH		DFND		35	0	0
EOG RES INC	COM	26875P101	75,549	446,297	SH		SOLE		446,297	0	0
EQT CORP	COM	26884L109	388	4,370	SH		SOLE		4,370	0	0
EQT MIDSTREAM PARTNERS LP	UNIT LTD PARTN	26885B100	24,866	505,098	SH		SOLE		505,098	0	0
EXCHANGE TRADED CONCEPTS TR	YORK HIINC MLP	301505103	429	23,485	SH		SOLE		23,485	0	0
EXCHANGE TRADED CONCEPTS TR	YRKVL HIINCINF	301505509	427	20,785	SH		SOLE		20,785	0	0
EXXON MOBIL CORP	COM	30231G102	4,147	48,194	SH		SOLE		48,194	0	0
EXXON MOBIL CORP	COM	30231G102	14	163	SH		DFND		163	0	0
FACTSET RESH SYS INC	COM	303075105	46,092	422,478	SH		SOLE		422,478	0	0
FLUOR CORP NEW	COM	343412102	228	3,211	SH		SOLE		3,211	0	0
FRANKLIN RES INC	COM	354613101	12	240	SH		DFND		240	0	0
FRANKLIN RES INC	COM	354613101	61,653	1,219,650	SH		SOLE		1,219,650	0	0
GENERAL ELECTRIC CO	COM	369604103	134	5,608	SH		DFND		5,608	0	0
GENERAL ELECTRIC CO	COM	369604103	1,558	65,209	SH		SOLE		65,209	0	0
GENESIS ENERGY L P	UNIT LTD PARTN	371927104	15	300	SH		DFND		300	0	0
GENESIS ENERGY L P	UNIT LTD PARTN	371927104	38,795	774,807	SH		SOLE		774,807	0	0
GRAINGER W W INC	COM	384802104	9	35	SH		DFND		35	0	0
GRAINGER W W INC	COM	384802104	59,769	228,377	SH		SOLE		228,377	0	0
HARRIS CORP DEL	COM	413875105	52,043	877,620	SH		SOLE		877,620	0	0
HARRIS CORP DEL	COM	413875105	10	175	SH		DFND		175	0	0
HCC INS HLDGS INC	COM	404132102	10	225	SH		DFND		225	0	0
HCC INS HLDGS INC	COM	404132102	61,050	1,393,195	SH		SOLE		1,393,195	0	0
HOLLY ENERGY PARTNERS L P	COM UT LTD PTN	435763107	2,518	76,130	SH		SOLE		76,130	0	0
HORMEL FOODS CORP	COM	440452100	45,834	1,088,185	SH		SOLE		1,088,185	0	0
ILLINOIS TOOL WKS INC	COM	452308109	1,301	17,063	SH		SOLE		17,063	0	0
INTEL CORP	COM	458140100	51	2,219	SH		DFND		2,219	0	0
INTEL CORP	COM	458140100	54,676	2,385,402	SH		SOLE		2,385,402	0	0
INTERNATIONAL BUSINESS MACHS	COM	459200101	71,682	387,093	SH		SOLE		387,093	0	0
INTERNATIONAL BUSINESS MACHS	COM	459200101	131	707	SH		DFND		707	0	0
ISHARES	1-3 YR TR BD ETF	464287457	155	1,839	SH		SOLE		1,839	0	0
ISHARES	CORE TOTUSBD ETF	464287226	412	3,840	SH		SOLE		3,840	0	0
ISHARES	TIPS BD ETF	464287176	164	1,450	SH		DFND		1,450	0	0
ISHARES	TIPS BD ETF	464287176	1,447	12,849	SH		SOLE		12,849	0	0
ISHARES	U.S. TECH ETF	464287721	77	975	SH		SOLE		975	0	0
JOHNSON & JOHNSON	COM	478160104	28	323	SH		DFND		323	0	0
JOHNSON & JOHNSON	COM	478160104	1,628	18,781	SH		SOLE		18,781	0	0
JPMORGAN CHASE & CO	ALERIAN ML ETN	46625H365	2,052	46,000	SH		SOLE		46,000	0	0
JPMORGAN CHASE & CO	COM	46625H100	715	13,831	SH		SOLE		13,831	0	0
KINDER MORGAN ENERGY PARTNER	UT LTD PARTNER	494550106	43,153	540,560	SH		SOLE		540,560	0	0
KINDER MORGAN MANAGEMENT LLC	SHS	49455U100	991	13,218	SH		SOLE		13,218	0	0
LEGACY RESERVES LP	UNIT LP INT	524707304	4,049	149,860	SH		SOLE		149,860	0	0
LEGGETT & PLATT INC	COM	524660107	1,343	44,540	SH		SOLE		44,540	0	0
LINN ENERGY LLC	UNIT LTD LIAB	536020100	233	9,000	SH		DFND		9,000	0	0
LINN ENERGY LLC	UNIT LTD LIAB	536020100	9,820	378,860	SH		SOLE		378,860	0	0
MAGELLAN MIDSTREAM PRTNRS LP	COM UNIT RP LP	559080106	532	9,434	SH		DFND		9,434	0	0
MAGELLAN MIDSTREAM PRTNRS LP	COM UNIT RP LP	559080106	87,330	1,547,588	SH		SOLE		1,547,588	0	0
MARKWEST ENERGY PARTNERS L P	UNIT LTD PARTN	570759100	29,893	413,860	SH		SOLE		413,860	0	0
MCCORMICK & CO INC	COM NON VTG	579780206	10	156	SH		DFND		156	0	0
MCCORMICK & CO INC	COM NON VTG	579780206	48,953	756,608	SH		SOLE		756,608	0	0
MCDONALDS CORP	COM	580135101	96	1,000	SH		DFND		1,000	0	0
MCDONALDS CORP	COM	580135101	52,646	547,200	SH		SOLE		547,200	0	0
MERCK & CO INC NEW	COM	58933Y105	293	6,152	SH		SOLE		6,152	0	0
MICROSOFT CORP	COM	594918104	262	7,875	SH		SOLE		7,875	0	0
MINE SAFETY APPLIANCES CO	COM	602720104	21,974	425,766	SH		SOLE		425,766	0	0
MONSANTO CO NEW	COM	61166W101	65,273	625,396	SH		SOLE		625,396	0	0
NATURAL RESOURCE PARTNERS L	COM UNIT L P	63900P103	7,698	404,105	SH		SOLE		404,105	0	0
NIKE INC	CL B	654106103	9	125	SH		DFND		125	0	0
NIKE INC	CL B	654106103	55,082	758,290	SH		SOLE		758,290	0	0
NORFOLK SOUTHERN CORP	COM	655844108	1,041	13,464	SH		SOLE		13,464	0	0
NOVO-NORDISK A S	ADR	670100205	345	2,040	SH		DFND		2,040	0	0
NOVO-NORDISK A S	ADR	670100205	73,117	432,083	SH		SOLE		432,083	0	0
NUSTAR ENERGY LP	UNIT COM	67058H102	2,368	59,040	SH		SOLE		59,040	0	0
NUSTAR GP HOLDINGS LLC	UNIT RESTG LLC	67059L102	1,063	47,370	SH		SOLE		47,370	0	0
NUVEEN NY AMT-FREE MUN INCOM	COM	670656107	154	12,542	SH		SOLE		12,542	0	0
OCCIDENTAL PETE CORP DEL	COM	674599105	246	2,630	SH		SOLE		2,630	0	0
ONEOK PARTNERS LP	UNIT LTD PARTN	68268N103	21,092	397,887	SH		SOLE		397,887	0	0
PARK STERLING CORP	COM	70086Y105	1,388	216,546	SH		SOLE		216,546	0	0
PARKER HANNIFIN CORP	COM	701094104	13	115	SH		DFND		115	0	0
PARKER HANNIFIN CORP	COM	701094104	53,196	489,291	SH		SOLE		489,291	0	0
PEPSICO INC	COM	713448108	80	1,000	SH		DFND		1,000	0	0
PEPSICO INC	COM	713448108	2,104	26,471	SH		SOLE		26,471	0	0
PERRIGO CO	COM	714290103	67,199	544,650	SH		SOLE		544,650	0	0
PFIZER INC	COM	717081103	324	11,269	SH		SOLE		11,269	0	0
PHILIP MORRIS INTL INC	COM	718172109	44	506	SH		DFND		506	0	0
PHILIP MORRIS INTL INC	COM	718172109	539	6,226	SH		SOLE		6,226	0	0
PHILLIPS 66 PARTNERS LP	COM UNIT REP INT	718549207	5	175	SH		DFND		175	0	0
PHILLIPS 66 PARTNERS LP	COM UNIT REP INT	718549207	236	7,675	SH		SOLE		7,675	0	0
PLAINS ALL AMERN PIPELINE L	UNIT LTD PARTN	726503105	68,252	1,296,081	SH		SOLE		1,296,081	0	0
PNC FINL SVCS GROUP INC	COM	693475105	304	4,191	SH		SOLE		4,191	0	0
POLARIS INDS INC	COM	731068102	14	105	SH		DFND		105	0	0
POLARIS INDS INC	COM	731068102	80,035	619,558	SH		SOLE		619,558	0	0
PPG INDS INC	COM	693506107	351	2,100	SH		SOLE		2,100	0	0
PRAXAIR INC	COM	74005P104	50,959	423,913	SH		SOLE		423,913	0	0
PRICE T ROWE GROUP INC	COM	74144T108	2	25	SH		DFND		25	0	0
PRICE T ROWE GROUP INC	COM	74144T108	60,222	837,235	SH		SOLE		837,235	0	0
PROCTER & GAMBLE CO	COM	742718109	1,900	25,135	SH		SOLE		25,135	0	0
PUBLIC SVC ENTERPRISE GROUP	COM	744573106	213	6,470	SH		SOLE		6,470	0	0
PVR PARTNERS L P	COM UNIT REPTG L	693665101	567	24,510	SH		SOLE		24,510	0	0
REALTY INCOME CORP	COM	756109104	659	16,591	SH		SOLE		16,591	0	0
REGENCY ENERGY PARTNERS L P	COM UNITS L P	75885Y107	2,109	73,750	SH		SOLE		73,750	0	0
RENTECH NITROGEN PARTNERS L	COM UNIT	760113100	10	400	SH		DFND		400	0	0
RENTECH NITROGEN PARTNERS L	COM UNIT	760113100	18,346	748,211	SH		SOLE		748,211	0	0
ROPER INDS INC NEW	COM	776696106	83	625	SH		DFND		625	0	0
ROPER INDS INC NEW	COM	776696106	66,665	501,729	SH		SOLE		501,729	0	0
ROSS STORES INC	COM	778296103	2,463	33,835	SH		SOLE		33,835	0	0
ROYAL DUTCH SHELL PLC	SPON ADR B	780259107	9	125	SH		SOLE		125	0	0
ROYAL DUTCH SHELL PLC	SPONS ADR A	780259206	286	4,357	SH		SOLE		4,357	0	0
ROYAL GOLD INC	COM	780287108	1,353	27,811	SH		SOLE		27,811	0	0
SANOFI	RIGHT 12/31/2020	80105N113	1	250	SH		SOLE		250	0	0
SANOFI	SPONSORED ADR	80105N105	2,228	44,001	SH		SOLE		44,001	0	0
SANOFI	SPONSORED ADR	80105N105	13	265	SH		DFND		265	0	0
SCHLUMBERGER LTD	COM	806857108	360	4,076	SH		SOLE		4,076	0	0
SCHLUMBERGER LTD	COM	806857108	2	26	SH		DFND		26	0	0
SHERWIN WILLIAMS CO	COM	824348106	3	15	SH		DFND		15	0	0
SHERWIN WILLIAMS CO	COM	824348106	64,338	353,155	SH		SOLE		353,155	0	0
SOUTHERN CO	COM	842587107	210	5,109	SH		SOLE		5,109	0	0
SUNOCO LOGISTICS PRTNRS L P	COM UNITS	86764L108	81,154	1,221,279	SH		SOLE		1,221,279	0	0
SUNTRUST BKS INC	COM	867914103	809	24,939	SH		SOLE		24,939	0	0
TEEKAY OFFSHORE PARTNERS L P	PARTNERSHIP UN	Y8565J101	576	17,281	SH		SOLE		17,281	0	0
TELEFLEX INC	COM	879369106	1,169	14,210	SH		SOLE		14,210	0	0
TESORO LOGISTICS LP	COM UNIT LP	88160T107	3,500	60,340	SH		SOLE		60,340	0	0
TESORO LOGISTICS LP	COM UNIT LP	88160T107	7	125	SH		DFND		125	0	0
TJX COS INC NEW	COM	872540109	67,274	1,193,008	SH		SOLE		1,193,008	0	0
TJX COS INC NEW	COM	872540109	12	205	SH		DFND		205	0	0
UNION PAC CORP	COM	907818108	11	70	SH		DFND		70	0	0
UNION PAC CORP	COM	907818108	973	6,266	SH		SOLE		6,266	0	0
UNITED TECHNOLOGIES CORP	COM	913017109	3,823	35,453	SH		SOLE		35,453	0	0
UNS ENERGY CORP	COM	903119105	1,232	26,425	SH		SOLE		26,425	0	0
V F CORP	COM	918204108	18	90	SH		DFND		90	0	0
V F CORP	COM	918204108	70,528	354,323	SH		SOLE		354,323	0	0
VALMONT INDS INC	COM	920253101	247	1,775	SH		SOLE		1,775	0	0
VALSPAR CORP	COM	920355104	8	125	SH		DFND		125	0	0
VALSPAR CORP	COM	920355104	57,677	909,304	SH		SOLE		909,304	0	0
VANGUARD INDEX FDS	TOTAL STK MKT	922908769	230	2,622	SH		SOLE		2,622	0	0
VERIZON COMMUNICATIONS INC	COM	92343V104	457	9,792	SH		SOLE		9,792	0	0
VODAFONE GROUP PLC NEW	SPONS ADR NEW	92857W209	209	5,944	SH		SOLE		5,944	0	0
VODAFONE GROUP PLC NEW	SPONS ADR NEW	92857W209	70	2,000	SH		DFND		2,000	0	0
W P CAREY INC	COM	92936U109	291	4,500	SH		SOLE		4,500	0	0
WALGREEN CO	COM	931422109	379	7,039	SH		SOLE		7,039	0	0
WAL-MART STORES INC	COM	931142103	74	1,000	SH		DFND		1,000	0	0
WAL-MART STORES INC	COM	931142103	1,537	20,778	SH		SOLE		20,778	0	0
WELLS FARGO & CO NEW	COM	949746101	471	11,390	SH		SOLE		11,390	0	0
WESTERN GAS EQUITY PARTNERS	COMUNT LTD PT	95825R103	1,892	50,885	SH		SOLE		50,885	0	0
WESTERN GAS PARTNERS LP	COM UNIT LP IN	958254104	33,890	563,608	SH		SOLE		563,608	0	0
WILLIAMS PARTNERS L P	COM UNIT L P	96950F104	44,132	834,573	SH		SOLE		834,573	0	0
WILLIAMS PARTNERS L P	COM UNIT L P	96950F104	386	7,300	SH		DFND		7,300	0	0