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	304	2,244	SH		SOLE		2,244	0	0
ACCESS MIDSTREAM PARTNERS L	UNIT	00434L109	41,858	727,338	SH		SOLE		727,338	0	0
AFLAC INC	COM	001055102	1,013	16,069	SH		SOLE		16,069	0	0
AIR PRODS & CHEMS INC	COM	009158106	293	2,461	SH		SOLE		2,461	0	0
ALLIANCE RES PARTNER L P	UT LTD PART	01877R108	395	4,700	SH		SOLE		4,700	0	0
ALPS ETF TR	ALERIAN MLP	00162Q866	1,794	101,600	SH		SOLE		101,600	0	0
APPLE INC	COM	037833100	38	70	SH		DFND		70	0	0
APPLE INC	COM	037833100	388	722	SH		SOLE		722	0	0
APTARGROUP INC	COM	038336103	817	12,365	SH		SOLE		12,365	0	0
AT&T INC	COM	00206R102	4	102	SH		DFND		102	0	0
AT&T INC	COM	00206R102	599	17,087	SH		SOLE		17,087	0	0
AUTOMATIC DATA PROCESSING IN	COM	053015103	71,981	931,668	SH		SOLE		931,668	0	0
BALL CORP	COM	058498106	645	11,760	SH		SOLE		11,760	0	0
BANK OF AMERICA CORPORATION	COM	060505104	264	15,327	SH		SOLE		15,327	0	0
BANK OF THE OZARKS INC	COM	063904106	7	100	SH		DFND		100	0	0
BANK OF THE OZARKS INC	COM	063904106	4,702	69,090	SH		SOLE		69,090	0	0
BECTON DICKINSON & CO	COM	075887109	302	2,580	SH		SOLE		2,580	0	0
BIOGEN IDEC INC	COM	09062X103	644	2,106	SH		SOLE		2,106	0	0
BOEING CO	COM	097023105	650	5,180	SH		SOLE		5,180	0	0
BP PLC	SPONSORED ADR	055622104	247	5,129	SH		SOLE		5,129	0	0
BREITBURN ENERGY PARTNERS LP	COM UT LTD PTN	106776107	2,997	150,052	SH		SOLE		150,052	0	0
BRISTOL MYERS SQUIBB CO	COM	110122108	299	5,749	SH		SOLE		5,749	0	0
CALUMET SPECIALTY PRODS PTNR	UT LTD PARTNER	131476103	5	200	SH		DFND		200	0	0
CALUMET SPECIALTY PRODS PTNR	UT LTD PARTNER	131476103	362	14,010	SH		SOLE		14,010	0	0
CANADIAN NATL RY CO	COM	136375102	120	2,130	SH		DFND		2,130	0	0
CANADIAN NATL RY CO	COM	136375102	78,609	1,398,238	SH		SOLE		1,398,238	0	0
CARDINAL HEALTH INC	COM	14149Y108	3	50	SH		DFND		50	0	0
CARDINAL HEALTH INC	COM	14149Y108	87,909	1,256,207	SH		SOLE		1,256,207	0	0
CATERPILLAR INC DEL	COM	149123101	217	2,185	SH		SOLE		2,185	0	0
CHEVRON CORP NEW	COM	166764100	1,636	13,754	SH		SOLE		13,754	0	0
CHICAGO BRIDGE & IRON CO N V	COM	167250109	4	50	SH		DFND		50	0	0
CHICAGO BRIDGE & IRON CO N V	COM	167250109	218	2,500	SH		SOLE		2,500	0	0
CHURCH & DWIGHT INC	COM	171340102	75,435	1,092,155	SH		SOLE		1,092,155	0	0
COCA COLA CO	COM	191216100	46	1,200	SH		DFND		1,200	0	0
COCA COLA CO	COM	191216100	600	15,527	SH		SOLE		15,527	0	0
COLGATE PALMOLIVE CO	COM	194162103	600	9,250	SH		SOLE		9,250	0	0
CONOCOPHILLIPS	COM	20825C104	316	4,498	SH		SOLE		4,498	0	0
DANAHER CORP DEL	COM	235851102	2	30	SH		DFND		30	0	0
DANAHER CORP DEL	COM	235851102	769	10,255	SH		SOLE		10,255	0	0
DCP MIDSTREAM PARTNERS LP	COM UT LTD PTN	23311P100	1,279	25,535	SH		SOLE		25,535	0	0
DELEK LOGISTICS PARTNERS LP	COM UNT RP INT	24664T103	353	10,600	SH		SOLE		10,600	0	0
DISNEY WALT CO	COM DISNEY	254687106	4	48	SH		DFND		48	0	0
DISNEY WALT CO	COM DISNEY	254687106	394	4,922	SH		SOLE		4,922	0	0
DOMINION RES INC VA NEW	COM	25746U109	408	5,751	SH		SOLE		5,751	0	0
DU PONT E I DE NEMOURS & CO	COM	263534109	27	400	SH		DFND		400	0	0
DU PONT E I DE NEMOURS & CO	COM	263534109	247	3,677	SH		SOLE		3,677	0	0
ECOLAB INC	COM	278865100	335	3,100	SH		DFND		3,100	0	0
ECOLAB INC	COM	278865100	82,907	767,729	SH		SOLE		767,729	0	0
EL PASO PIPELINE PARTNERS L	COM UNIT LPI	283702108	7,418	244,105	SH		SOLE		244,105	0	0
EMERSON ELEC CO	COM	291011104	736	11,023	SH		SOLE		11,023	0	0
ENBRIDGE ENERGY PARTNERS L P	COM	29250R106	11,353	414,206	SH		SOLE		414,206	0	0
ENBRIDGE ENERGY PARTNERS L P	COM	29250R106	16	600	SH		DFND		600	0	0
ENERGY TRANSFER EQUITY L P	COM UT LTD PTN	29273V100	187	4,000	SH		DFND		4,000	0	0
ENERGY TRANSFER EQUITY L P	COM UT LTD PTN	29273V100	68,391	1,462,908	SH		SOLE		1,462,908	0	0
ENERGY TRANSFER PRTNRS L P	UNIT LTD PARTN	29273R109	108	2,000	SH		DFND		2,000	0	0
ENERGY TRANSFER PRTNRS L P	UNIT LTD PARTN	29273R109	12,335	229,316	SH		SOLE		229,316	0	0
ENTERPRISE PRODS PARTNERS L	COM	293792107	560	8,070	SH		DFND		8,070	0	0
ENTERPRISE PRODS PARTNERS L	COM	293792107	93,088	1,342,096	SH		SOLE		1,342,096	0	0
EOG RES INC	COM	26875P101	10	50	SH		DFND		50	0	0
EOG RES INC	COM	26875P101	96,694	492,907	SH		SOLE		492,907	0	0
EQT CORP	COM	26884L109	424	4,370	SH		SOLE		4,370	0	0
EQT MIDSTREAM PARTNERS LP	UNIT LTD PARTN	26885B100	40,715	578,916	SH		SOLE		578,916	0	0
EXCHANGE TRADED CONCEPTS TR	YORK HIINC MLP	301505103	390	21,760	SH		SOLE		21,760	0	0
EXCHANGE TRADED CONCEPTS TR	YRKVL HIINCINF	301505509	404	19,125	SH		SOLE		19,125	0	0
EXXON MOBIL CORP	COM	30231G102	16	163	SH		DFND		163	0	0
EXXON MOBIL CORP	COM	30231G102	4,000	40,954	SH		SOLE		40,954	0	0
FACTSET RESH SYS INC	COM	303075105	46,047	427,115	SH		SOLE		427,115	0	0
FIRST TR EXCHANGE TRADED FD	NO AMER ENERGY	33738D101	244	10,060	SH		SOLE		10,060	0	0
FLUOR CORP NEW	COM	343412102	250	3,211	SH		SOLE		3,211	0	0
FRANKLIN RES INC	COM	354613101	13	240	SH		DFND		240	0	0
FRANKLIN RES INC	COM	354613101	81,747	1,508,804	SH		SOLE		1,508,804	0	0
GENERAL ELECTRIC CO	COM	369604103	145	5,608	SH		DFND		5,608	0	0
GENERAL ELECTRIC CO	COM	369604103	1,661	64,153	SH		SOLE		64,153	0	0
GENESIS ENERGY L P	UNIT LTD PARTN	371927104	49,607	915,259	SH		SOLE		915,259	0	0
GENESIS ENERGY L P	UNIT LTD PARTN	371927104	16	300	SH		DFND		300	0	0
GILEAD SCIENCES INC	COM	375558103	226	3,196	SH		SOLE		3,196	0	0
GRAINGER W W INC	COM	384802104	14	55	SH		DFND		55	0	0
GRAINGER W W INC	COM	384802104	80,505	318,628	SH		SOLE		318,628	0	0
HARRIS CORP DEL	COM	413875105	9	125	SH		DFND		125	0	0
HARRIS CORP DEL	COM	413875105	63,343	865,810	SH		SOLE		865,810	0	0
HCC INS HLDGS INC	COM	404132102	10	225	SH		DFND		225	0	0
HCC INS HLDGS INC	COM	404132102	69,222	1,521,704	SH		SOLE		1,521,704	0	0
HOLLY ENERGY PARTNERS L P	COM UT LTD PTN	435763107	1,907	57,490	SH		SOLE		57,490	0	0
HORMEL FOODS CORP	COM	440452100	54,654	1,109,275	SH		SOLE		1,109,275	0	0
ILLINOIS TOOL WKS INC	COM	452308109	831	10,215	SH		SOLE		10,215	0	0
INTEL CORP	COM	458140100	73,766	2,857,605	SH		SOLE		2,857,605	0	0
INTEL CORP	COM	458140100	109	4,219	SH		DFND		4,219	0	0
INTERNATIONAL BUSINESS MACHS	COM	459200101	118	615	SH		DFND		615	0	0
INTERNATIONAL BUSINESS MACHS	COM	459200101	74,872	388,968	SH		SOLE		388,968	0	0
ISHARES	1-3 YR TR BD ETF	464287457	162	1,919	SH		SOLE		1,919	0	0
ISHARES	CORE TOTUSBD ETF	464287226	448	4,155	SH		SOLE		4,155	0	0
ISHARES	TIPS BD ETF	464287176	701	6,255	SH		SOLE		6,255	0	0
ISHARES	U.S. TECH ETF	464287721	89	975	SH		SOLE		975	0	0
JOHNSON & JOHNSON	COM	478160104	32	323	SH		DFND		323	0	0
JOHNSON & JOHNSON	COM	478160104	1,904	19,386	SH		SOLE		19,386	0	0
JPMORGAN CHASE & CO	ALERIAN ML ETN	46625H365	2,143	46,055	SH		SOLE		46,055	0	0
JPMORGAN CHASE & CO	COM	46625H100	848	13,964	SH		SOLE		13,964	0	0
KINDER MORGAN ENERGY PARTNER	UT LTD PARTNER	494550106	26	350	SH		DFND		350	0	0
KINDER MORGAN ENERGY PARTNER	UT LTD PARTNER	494550106	52,803	714,038	SH		SOLE		714,038	0	0
KINDER MORGAN INC DEL	COM	49456B101	243	7,483	SH		SOLE		7,483	0	0
KINDER MORGAN MANAGEMENT LLC	SHS	49455U100	1,118	15,603	SH		SOLE		15,603	0	0
LEGACY RESERVES LP	UNIT LP INT	524707304	3,079	123,950	SH		SOLE		123,950	0	0
LEGGETT & PLATT INC	COM	524660107	1,064	32,600	SH		SOLE		32,600	0	0
LINN ENERGY LLC	UNIT LTD LIAB	536020100	113	4,000	SH		DFND		4,000	0	0
LINN ENERGY LLC	UNIT LTD LIAB	536020100	9,761	344,658	SH		SOLE		344,658	0	0
LOWES COS INC	COM	548661107	76,569	1,565,826	SH		SOLE		1,565,826	0	0
MAGELLAN MIDSTREAM PRTNRS LP	COM UNIT RP LP	559080106	742	10,634	SH		DFND		10,634	0	0
MAGELLAN MIDSTREAM PRTNRS LP	COM UNIT RP LP	559080106	107,063	1,535,171	SH		SOLE		1,535,171	0	0
MARKWEST ENERGY PARTNERS L P	UNIT LTD PARTN	570759100	47,372	725,237	SH		SOLE		725,237	0	0
MCCORMICK & CO INC	COM NON VTG	579780206	14	200	SH		DFND		200	0	0
MCCORMICK & CO INC	COM NON VTG	579780206	57,391	799,986	SH		SOLE		799,986	0	0
MCDONALDS CORP	COM	580135101	7,023	71,640	SH		SOLE		71,640	0	0
MERCK & CO INC NEW	COM	58933Y105	343	6,050	SH		SOLE		6,050	0	0
MICROSOFT CORP	COM	594918104	307	7,500	SH		SOLE		7,500	0	0
MONSANTO CO NEW	COM	61166W101	82,771	727,527	SH		SOLE		727,527	0	0
MSA SAFETY INC	COM	553498106	1,039	18,220	SH		SOLE		18,220	0	0
NATIONAL GRID PLC	SPON ADR NEW	636274300	226	3,295	SH		SOLE		3,295	0	0
NATURAL RESOURCE PARTNERS L	COM UNIT L P	63900P103	4,961	311,644	SH		SOLE		311,644	0	0
NGL ENERGY PARTNERS LP	COM UNIT REPST	62913M107	16,562	441,310	SH		SOLE		441,310	0	0
NIKE INC	CL B	654106103	9	125	SH		DFND		125	0	0
NIKE INC	CL B	654106103	75,591	1,023,430	SH		SOLE		1,023,430	0	0
NORFOLK SOUTHERN CORP	COM	655844108	1,156	11,899	SH		SOLE		11,899	0	0
NOVO-NORDISK A S	ADR	670100205	462	10,125	SH		DFND		10,125	0	0
NOVO-NORDISK A S	ADR	670100205	92,487	2,026,004	SH		SOLE		2,026,004	0	0
NUSTAR ENERGY LP	UNIT COM	67058H102	1,856	33,770	SH		SOLE		33,770	0	0
NUSTAR GP HOLDINGS LLC	UNIT RESTG LLC	67059L102	1,255	36,865	SH		SOLE		36,865	0	0
NUVEEN NY AMT-FREE MUN INCOM	COM	670656107	160	12,542	SH		SOLE		12,542	0	0
OCCIDENTAL PETE CORP DEL	COM	674599105	211	2,217	SH		SOLE		2,217	0	0
ONEOK INC NEW	COM	682680103	352	5,942	SH		SOLE		5,942	0	0
ONEOK PARTNERS LP	UNIT LTD PARTN	68268N103	21,038	392,867	SH		SOLE		392,867	0	0
ORACLE CORP	COM	68389X105	221	5,400	SH		SOLE		5,400	0	0
PARK STERLING CORP	COM	70086Y105	1,063	159,859	SH		SOLE		159,859	0	0
PARKER HANNIFIN CORP	COM	701094104	14	115	SH		DFND		115	0	0
PARKER HANNIFIN CORP	COM	701094104	72,122	602,471	SH		SOLE		602,471	0	0
PEPSICO INC	COM	713448108	89	1,060	SH		DFND		1,060	0	0
PEPSICO INC	COM	713448108	81,171	972,110	SH		SOLE		972,110	0	0
PERRIGO CO PLC	SHS	G97822103	6	40	SH		DFND		40	0	0
PERRIGO CO PLC	SHS	G97822103	96,771	625,700	SH		SOLE		625,700	0	0
PFIZER INC	COM	717081103	345	10,742	SH		SOLE		10,742	0	0
PHILIP MORRIS INTL INC	COM	718172109	38	464	SH		DFND		464	0	0
PHILIP MORRIS INTL INC	COM	718172109	485	5,918	SH		SOLE		5,918	0	0
PHILLIPS 66 PARTNERS LP	COM UNIT REP INT	718549207	8	175	SH		DFND		175	0	0
PHILLIPS 66 PARTNERS LP	COM UNIT REP INT	718549207	382	7,875	SH		SOLE		7,875	0	0
PLAINS ALL AMERN PIPELINE L	UNIT LTD PARTN	726503105	3	50	SH		DFND		50	0	0
PLAINS ALL AMERN PIPELINE L	UNIT LTD PARTN	726503105	81,270	1,474,410	SH		SOLE		1,474,410	0	0
PNC FINL SVCS GROUP INC	COM	693475105	281	3,225	SH		SOLE		3,225	0	0
POLARIS INDS INC	COM	731068102	15	105	SH		DFND		105	0	0
POLARIS INDS INC	COM	731068102	88,874	636,129	SH		SOLE		636,129	0	0
PPG INDS INC	COM	693506107	406	2,100	SH		SOLE		2,100	0	0
PRAXAIR INC	COM	74005P104	59,081	451,106	SH		SOLE		451,106	0	0
PRICE T ROWE GROUP INC	COM	74144T108	76,037	923,341	SH		SOLE		923,341	0	0
PRICE T ROWE GROUP INC	COM	74144T108	2	25	SH		DFND		25	0	0
PROCTER & GAMBLE CO	COM	742718109	2,150	26,672	SH		SOLE		26,672	0	0
PUBLIC SVC ENTERPRISE GROUP	COM	744573106	247	6,470	SH		SOLE		6,470	0	0
REALTY INCOME CORP	COM	756109104	376	9,191	SH		SOLE		9,191	0	0
REGENCY ENERGY PARTNERS L P	COM UNITS L P	75885Y107	8	306	SH		DFND		306	0	0
REGENCY ENERGY PARTNERS L P	COM UNITS L P	75885Y107	2,423	89,028	SH		SOLE		89,028	0	0
RENTECH NITROGEN PARTNERS L	COM UNIT	760113100	8,398	451,250	SH		SOLE		451,250	0	0
ROPER INDS INC NEW	COM	776696106	80	600	SH		DFND		600	0	0
ROPER INDS INC NEW	COM	776696106	83,496	625,390	SH		SOLE		625,390	0	0
ROSS STORES INC	COM	778296103	964	13,475	SH		SOLE		13,475	0	0
ROYAL DUTCH SHELL PLC	SPON ADR B	780259107	10	125	SH		SOLE		125	0	0
ROYAL DUTCH SHELL PLC	SPONS ADR A	780259206	338	4,624	SH		SOLE		4,624	0	0
SANOFI	RIGHT 12/31/2020	80105N113	0	250	SH		SOLE		250	0	0
SANOFI	SPONSORED ADR	80105N105	2,802	53,601	SH		SOLE		53,601	0	0
SANOFI	SPONSORED ADR	80105N105	14	265	SH		DFND		265	0	0
SCHLUMBERGER LTD	COM	806857108	3	26	SH		DFND		26	0	0
SCHLUMBERGER LTD	COM	806857108	405	4,151	SH		SOLE		4,151	0	0
SHERWIN WILLIAMS CO	COM	824348106	3	15	SH		DFND		15	0	0
SHERWIN WILLIAMS CO	COM	824348106	86,791	440,273	SH		SOLE		440,273	0	0
SUNOCO LOGISTICS PRTNRS L P	COM UNITS	86764L108	111,110	1,222,600	SH		SOLE		1,222,600	0	0
SUNTRUST BKS INC	COM	867914103	992	24,939	SH		SOLE		24,939	0	0
TEEKAY OFFSHORE PARTNERS L P	PARTNERSHIP UN	Y8565J101	698	21,331	SH		SOLE		21,331	0	0
TELEFLEX INC	COM	879369106	1,039	9,690	SH		SOLE		9,690	0	0
TENNECO INC	COM	880349105	215	3,700	SH		SOLE		3,700	0	0
TESORO LOGISTICS LP	COM UNIT LP	88160T107	4,627	76,850	SH		SOLE		76,850	0	0
TESORO LOGISTICS LP	COM UNIT LP	88160T107	8	125	SH		DFND		125	0	0
TIFFANY & CO NEW	COM	886547108	62,411	724,450	SH		SOLE		724,450	0	0
TJX COS INC NEW	COM	872540109	12	205	SH		DFND		205	0	0
TJX COS INC NEW	COM	872540109	75,713	1,248,366	SH		SOLE		1,248,366	0	0
UNION PAC CORP	COM	907818108	13	70	SH		DFND		70	0	0
UNION PAC CORP	COM	907818108	1,204	6,416	SH		SOLE		6,416	0	0
UNITED TECHNOLOGIES CORP	COM	913017109	44,994	385,094	SH		SOLE		385,094	0	0
UNS ENERGY CORP	COM	903119105	279	4,655	SH		SOLE		4,655	0	0
V F CORP	COM	918204108	27	440	SH		DFND		440	0	0
V F CORP	COM	918204108	101,221	1,635,758	SH		SOLE		1,635,758	0	0
VALMONT INDS INC	COM	920253101	367	2,465	SH		SOLE		2,465	0	0
VALSPAR CORP	COM	920355104	9	125	SH		DFND		125	0	0
VALSPAR CORP	COM	920355104	69,712	966,617	SH		SOLE		966,617	0	0
VERIZON COMMUNICATIONS INC	COM	92343V104	500	10,512	SH		SOLE		10,512	0	0
VERIZON COMMUNICATIONS INC	COM	92343V104	25	526	SH		DFND		526	0	0
W P CAREY INC	COM	92936U109	270	4,500	SH		SOLE		4,500	0	0
WALGREEN CO	COM	931422109	66	1,000	SH		DFND		1,000	0	0
WALGREEN CO	COM	931422109	447	6,774	SH		SOLE		6,774	0	0
WAL-MART STORES INC	COM	931142103	76	1,000	SH		DFND		1,000	0	0
WAL-MART STORES INC	COM	931142103	928	12,145	SH		SOLE		12,145	0	0
WELLS FARGO & CO NEW	COM	949746101	606	12,190	SH		SOLE		12,190	0	0
WESTERN GAS EQUITY PARTNERS	COMUNT LTD PT	95825R103	3,297	67,125	SH		SOLE		67,125	0	0
WESTERN GAS PARTNERS LP	COM UNIT LP IN	958254104	44,040	665,353	SH		SOLE		665,353	0	0
WILLIAMS PARTNERS L P	COM UNIT L P	96950F104	40,757	800,106	SH		SOLE		800,106	0	0
WILLIAMS PARTNERS L P	COM UNIT L P	96950F104	168	3,300	SH		DFND		3,300	0	0