Gilman Hill Asset Management 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
1 800 FLOWERS COM	CL A	68243Q106	191	30,831	SH		SOLE		30,831	0	0
3M CO	COM	88579Y101	1,053	9,627	SH		SOLE		9,627	0	0
ABBOTT LABS	COM	002824100	388	11,128	SH		SOLE		9,128	0	2,000
ABBVIE INC	COM	00287Y109	472	11,423	SH		SOLE		9,423	0	2,000
ALLIANCEBERNSTEIN INCOME FUN	COM	01881E101	90	12,000	SH		SOLE		2,000	0	10,000
ALTRIA GROUP INC	COM	02209S103	292	8,334	SH		SOLE		3,334	0	5,000
AMERICAN WTR WKS CO INC NEW	COM	030420103	511	12,383	SH		SOLE		7,383	0	5,000
APPLE INC	COM	037833100	681	1,717	SH		SOLE		1,717	0	0
B & G FOODS INC NEW	COM	05508R106	3,288	96,560	SH		SOLE		82,235	0	14,325
BED BATH & BEYOND INC	COM	075896100	215	3,025	SH		SOLE		3,025	0	0
BIO-REFERENCE LABS INC	COM $.01 NEW	09057G602	265	9,229	SH		SOLE		9,229	0	0
BLACKROCK INC	COM	09247X101	295	1,150	SH		SOLE		1,150	0	0
BLDRS INDEX FDS TR	ASIA 50 ADR	09348R102	47	1,756	SH		SOLE		1,756	0	0
BLDRS INDEX FDS TR	DEV MK 100 ADR	09348R201	100	4,631	SH		SOLE		4,631	0	0
BLDRS INDEX FDS TR	EMER MK 50 ADR	09348R300	206	5,986	SH		SOLE		5,986	0	0
BRISTOL MYERS SQUIBB CO	COM	110122108	3,854	86,245	SH		SOLE		63,290	0	22,955
BUCKEYE PARTNERS L P	UNIT LTD PARTN	118230101	514	7,325	SH		SOLE		1,325	0	6,000
CALGON CARBON CORP	COM	129603106	168	10,063	SH		SOLE		10,063	0	0
CANTEL MEDICAL CORP	COM	138098108	240	7,078	SH		SOLE		7,078	0	0
CAPLEASE INC	COM	140288101	2,598	307,850	SH		SOLE		253,215	0	54,635
CELGENE CORP	COM	151020104	205	1,750	SH		SOLE		1,750	0	0
CHEVRON CORP NEW	COM	166764100	2,274	19,216	SH		SOLE		14,550	0	4,666
COACH INC	COM	189754104	320	5,600	SH		SOLE		5,600	0	0
COCA COLA CO	COM	191216100	1,397	34,825	SH		SOLE		11,815	0	23,010
COMPASS DIVERSIFIED HOLDINGS	SH BEN INT	20451Q104	2,917	166,419	SH		SOLE		143,519	0	22,900
CONAGRA FOODS INC	COM	205887102	3,056	87,501	SH		SOLE		72,703	0	14,798
CREDIT SUISSE ASSET MGMT INC	COM	224916106	84	22,000	SH		SOLE		2,000	0	20,000
CREDIT SUISSE NASSAU BRH	ETN LKD 30 MLP	22542D852	808	27,025	SH		SOLE		13,115	0	13,910
CUBESMART	COM	229663109	162	10,110	SH		SOLE		10,110	0	0
DEERE & CO	COM	244199105	305	3,752	SH		SOLE		3,752	0	0
DICE HLDGS INC	COM	253017107	186	20,163	SH		SOLE		20,163	0	0
DIGITAL RLTY TR INC	COM	253868103	2,336	38,303	SH		SOLE		32,263	0	6,040
DOMINION RES INC VA NEW	COM	25746U109	340	5,992	SH		SOLE		5,992	0	0
DOUGLAS DYNAMICS INC	COM	25960R105	2,029	156,317	SH		SOLE		134,057	0	22,260
DU PONT E I DE NEMOURS & CO	COM	263534109	657	12,522	SH		SOLE		7,522	0	5,000
DUKE ENERGY CORP NEW	COM NEW	26441C204	1,876	27,794	SH		SOLE		22,545	0	5,249
ENBRIDGE ENERGY MANAGEMENT L	SHS UNITS LLI	29250X103	349	11,534	SH		SOLE		5,253	0	6,282
ENTERPRISE PRODS PARTNERS L	COM	293792107	2,784	44,794	SH		SOLE		39,869	0	4,925
EQT CORP	COM	26884L109	258	3,250	SH		SOLE		3,250	0	0
EXPRESS SCRIPTS HLDG CO	COM	30219G108	201	3,250	SH		SOLE		3,250	0	0
EXXON MOBIL CORP	COM	30231G102	1,405	15,556	SH		SOLE		13,056	0	2,500
FELCOR LODGING TR INC	COM	31430F101	192	32,450	SH		SOLE		32,450	0	0
FLOWSERVE CORP	COM	34354P105	486	9,000	SH		SOLE		9,000	0	0
GARMIN LTD	SHS	H2906T109	2,591	71,645	SH		SOLE		60,405	0	11,240
GENERAL ELECTRIC CO	COM	369604103	1,448	62,439	SH		SOLE		56,469	0	5,970
GENESEE & WYO INC	CL A	371559105	200	2,353	SH		SOLE		2,353	0	0
GILEAD SCIENCES INC	COM	375558103	211	4,125	SH		SOLE		4,125	0	0
GOOGLE INC	CL A	38259P508	442	502	SH		SOLE		502	0	0
GRAY TELEVISION INC	COM	389375106	456	63,353	SH		SOLE		63,353	0	0
HERCULES TECH GROWTH CAP INC	COM	427096508	3,069	220,150	SH		SOLE		185,690	0	34,460
HOLLYFRONTIER CORP	COM	436106108	2,635	61,595	SH		SOLE		51,905	0	9,690
HOME DEPOT INC	COM	437076102	350	4,518	SH		SOLE		4,518	0	0
INTEL CORP	COM	458140100	3,151	130,030	SH		SOLE		89,260	0	40,770
INTERNATIONAL BUSINESS MACHS	COM	459200101	1,014	5,307	SH		SOLE		3,307	0	2,000
ISTAR FINL INC	COM	45031U101	167	14,817	SH		SOLE		14,817	0	0
JOHNSON & JOHNSON	COM	478160104	4,486	52,245	SH		SOLE		46,417	0	5,828
JPMORGAN CHASE & CO	COM	46625H100	739	13,996	SH		SOLE		7,996	0	6,000
KIMBERLY CLARK CORP	COM	494368103	389	4,005	SH		SOLE		2,005	0	2,000
KINDER MORGAN MANAGEMENT LLC	SHS	49455U100	367	4,389	SH		SOLE		1,889	0	2,500
KRAFT FOODS GROUP INC	COM	50076Q106	340	6,084	SH		SOLE		3,084	0	3,000
LAZARD LTD	SHS A	G54050102	361	11,216	SH		SOLE		0	0	11,216
LIBERTY PPTY TR	SH BEN INT	531172104	2,700	73,053	SH		SOLE		61,647	0	11,406
LINNCO LLC	COMSHS LTD INT	535782106	375	10,075	SH		SOLE		5,720	0	4,355
MAGELLAN MIDSTREAM PRTNRS LP	COM UNIT RP LP	559080106	2,527	46,375	SH		SOLE		40,164	0	6,211
MARKWEST ENERGY PARTNERS L P	UNIT LTD PARTN	570759100	251	3,757	SH		SOLE		3,757	0	0
MCCORMICK & CO INC	COM NON VTG	579780206	7,367	104,552	SH		SOLE		104,552	0	0
MCDONALDS CORP	COM	580135101	612	6,183	SH		SOLE		4,183	0	2,000
MCKESSON CORP	COM	58155Q103	254	2,214	SH		SOLE		2,214	0	0
MEI PHARMA INC	COM NEW	55279B202	114	15,931	SH		SOLE		15,931	0	0
MERCK & CO INC NEW	COM	58933Y105	791	17,029	SH		SOLE		5,664	0	11,365
MFS CHARTER INCOME TR	SH BEN INT	552727109	163	17,575	SH		SOLE		7,575	0	10,000
MICROCHIP TECHNOLOGY INC	COM	595017104	2,524	67,751	SH		SOLE		56,631	0	11,120
MICROSOFT CORP	COM	594918104	752	21,760	SH		SOLE		5,370	0	16,390
MONSANTO CO NEW	COM	61166W101	574	5,810	SH		SOLE		5,810	0	0
NATIONAL RETAIL PPTYS INC	COM	637417106	2,757	80,152	SH		SOLE		68,352	0	11,800
NATURAL RESOURCE PARTNERS L	COM UNIT L P	63900P103	1,621	78,790	SH		SOLE		63,025	0	15,765
NEWPARK RES INC	COM PAR $.01NEW	651718504	248	22,608	SH		SOLE		22,608	0	0
NORDSTROM INC	COM	655664100	210	3,511	SH		SOLE		3,511	0	0
NOVARTIS A G	SPONSORED ADR	66987V109	442	6,250	SH		SOLE		4,250	0	2,000
NUSTAR ENERGY LP	UNIT COM	67058H102	1,715	37,558	SH		SOLE		33,913	0	3,645
NUTRI SYS INC NEW	COM	67069D108	2,257	191,605	SH		SOLE		158,470	0	33,135
PAYCHEX INC	COM	704326107	2,354	64,470	SH		SOLE		52,030	0	12,440
PEPSICO INC	COM	713448108	265	3,238	SH		SOLE		3,238	0	0
PFIZER INC	COM	717081103	3,682	131,464	SH		SOLE		98,514	0	32,950
PPL CORP	COM	69351T106	2,333	77,102	SH		SOLE		65,197	0	11,905
PROCTER & GAMBLE CO	COM	742718109	845	10,980	SH		SOLE		9,480	0	1,500
PUTNAM PREMIER INCOME TR	SH BEN INT	746853100	120	22,500	SH		SOLE		12,500	0	10,000
QUALCOMM INC	COM	747525103	212	3,475	SH		SOLE		3,475	0	0
SABRA HEALTH CARE REIT INC	COM	78573L106	2,247	86,040	SH		SOLE		72,625	0	13,415
SANDY SPRING BANCORP INC	COM	800363103	566	26,200	SH		SOLE		26,200	0	0
SANOFI	RIGHT 12/31/2020	80105N113	0	116	SH		SOLE		116	0	0
SANOFI	SPONSORED ADR	80105N105	357	6,933	SH		SOLE		3,433	0	3,500
SHFL ENTMT INC	COM	78423R105	300	16,961	SH		SOLE		16,961	0	0
SHORE BANCSHARES INC	COM	825107105	396	53,836	SH		SOLE		53,836	0	0
SIX FLAGS ENTMT CORP NEW	COM	83001A102	2,839	80,750	SH		SOLE		68,430	0	12,320
SPDR INDEX SHS FDS	EMERG MKTS ETF	78463X509	934	15,663	SH		SOLE		15,663	0	0
SPDR S&P 500 ETF TR	TR UNIT	78462F103	974	6,074	SH		SOLE		6,074	0	0
SPDR S&P MIDCAP 400 ETF TR	UTSER1 S&PDCRP	78467Y107	1,132	5,390	SH		SOLE		5,390	0	0
STAMPS COM INC	COM NEW	852857200	328	8,325	SH		SOLE		8,325	0	0
TAL INTL GROUP INC	COM	874083108	2,587	59,380	SH		SOLE		50,595	0	8,785
TARGA RESOURCES PARTNERS LP	COM UNIT	87611X105	2,327	46,125	SH		SOLE		41,175	0	4,950
TEEKAY LNG PARTNERS L P	PRTNRSP UNITS	Y8564M105	2,698	61,742	SH		SOLE		55,572	0	6,170
TEEKAY OFFSHORE PARTNERS L P	PARTNERSHIP UN	Y8565J101	409	12,590	SH		SOLE		6,125	0	6,465
TIME WARNER INC	COM NEW	887317303	251	4,343	SH		SOLE		1,010	0	3,333
TRAVELCENTERS OF AMERICA LLC	COM	894174101	187	17,116	SH		SOLE		17,116	0	0
VANGUARD INDEX FDS	SM CP VAL ETF	922908611	116	1,380	SH		SOLE		1,380	0	0
VANGUARD INDEX FDS	SMALL CP ETF	922908751	1,732	18,481	SH		SOLE		18,481	0	0
VANGUARD INTL EQUITY INDEX F	ALLWRLD EX US	922042775	1,688	38,175	SH		SOLE		38,175	0	0
VANGUARD INTL EQUITY INDEX F	FTSE EMR MKT ETF	922042858	672	17,310	SH		SOLE		17,310	0	0
VANGUARD NATURAL RESOURCES L	COM UNIT	92205F106	2,422	86,823	SH		SOLE		77,983	0	8,840
VANTAGE DRILLING COMPANY	ORD SHS	G93205113	132	64,808	SH		SOLE		64,808	0	0
VENTAS INC	COM	92276F100	2,886	41,543	SH		SOLE		34,783	0	6,760
VERIZON COMMUNICATIONS INC	COM	92343V104	3,167	62,905	SH		SOLE		48,280	0	14,625
VIACOM INC NEW	CL A	92553P102	205	3,000	SH		SOLE		0	0	3,000
VIACOM INC NEW	CL B	92553P201	41	600	SH		SOLE		600	0	0
VITRAN CORP INC	COM	92850E107	197	30,169	SH		SOLE		30,169	0	0
VODAFONE GROUP PLC NEW	SPONS ADR NEW	92857W209	313	10,900	SH		SOLE		4,900	0	6,000
WASTE MGMT INC DEL	COM	94106L109	2,659	65,939	SH		SOLE		54,799	0	11,140
WHITE MTNS INS GROUP LTD	COM	G9618E107	230	400	SH		SOLE		400	0	0
WINDSTREAM CORP	COM	97381W104	1,650	213,947	SH		SOLE		176,687	0	37,260
XERIUM TECHNOLOGIES INC	COM NEW	98416J118	138	13,532	SH		SOLE		13,532	0	0