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	151	26,881	SH		SOLE		26,881	0	0
3M CO	COM	88579Y101	1,295	9,547	SH		SOLE		9,547	0	0
ABBOTT LABS	COM	002824100	602	15,628	SH		SOLE		15,628	0	0
ABBVIE INC	COM	00287Y109	585	11,383	SH		SOLE		11,383	0	0
ALLIANCEBERNSTEIN INCOME FUN	COM	01881E101	198	27,000	SH		SOLE		27,000	0	0
ALTRIA GROUP INC	COM	02209S103	338	9,042	SH		SOLE		9,042	0	0
AMERICAN EXPRESS CO	COM	025816109	238	2,647	SH		SOLE		2,647	0	0
AMERICAN WTR WKS CO INC NEW	COM	030420103	564	12,417	SH		SOLE		12,417	0	0
AMGEN INC	COM	031162100	284	2,300	SH		SOLE		2,300	0	0
APPLE INC	COM	037833100	1,088	2,027	SH		SOLE		2,027	0	0
AT&T INC	COM	00206R102	521	14,850	SH		SOLE		14,850	0	0
B & G FOODS INC NEW	COM	05508R106	3,020	100,301	SH		SOLE		85,507	0	14,794
BED BATH & BEYOND INC	COM	075896100	346	5,025	SH		SOLE		5,025	0	0
BIOGEN IDEC INC	COM	09062X103	245	800	SH		SOLE		800	0	0
BIO-REFERENCE LABS INC	COM $.01 NEW	09057G602	302	10,911	SH		SOLE		10,911	0	0
BLACKROCK INC	COM	09247X101	590	1,875	SH		SOLE		1,875	0	0
BRISTOL MYERS SQUIBB CO	COM	110122108	1,028	19,792	SH		SOLE		19,470	0	322
BUCKEYE PARTNERS L P	UNIT LTD PARTN	118230101	287	3,825	SH		SOLE		3,825	0	0
CANTEL MEDICAL CORP	COM	138098108	279	8,264	SH		SOLE		8,264	0	0
CELGENE CORP	COM	151020104	279	1,997	SH		SOLE		1,997	0	0
CF INDS HLDGS INC	COM	125269100	408	1,567	SH		SOLE		1,567	0	0
CHEVRON CORP NEW	COM	166764100	2,418	20,336	SH		SOLE		16,932	0	3,404
CISCO SYS INC	COM	17275R102	304	13,555	SH		SOLE		13,555	0	0
COCA COLA CO	COM	191216100	1,092	28,245	SH		SOLE		28,245	0	0
COMPASS DIVERSIFIED HOLDINGS	SH BEN INT	20451Q104	3,425	181,131	SH		SOLE		156,925	0	24,206
COMPUTER TASK GROUP INC	COM	205477102	233	13,706	SH		SOLE		13,706	0	0
CONAGRA FOODS INC	COM	205887102	3,339	107,603	SH		SOLE		91,656	0	15,947
CREDIT SUISSE ASSET MGMT INC	COM	224916106	576	159,500	SH		SOLE		159,500	0	0
CREDIT SUISSE NASSAU BRH	EQL WGT MLP LKD	22542D852	1,345	42,150	SH		SOLE		27,167	0	14,983
CUBESMART	COM	229663109	173	10,110	SH		SOLE		10,110	0	0
DARDEN RESTAURANTS INC	COM	237194105	3,664	72,175	SH		SOLE		61,470	0	10,705
DEERE & CO	COM	244199105	372	4,102	SH		SOLE		4,102	0	0
DICE HLDGS INC	COM	253017107	222	29,754	SH		SOLE		29,754	0	0
DIGITAL RLTY TR INC	COM	253868103	2,452	46,187	SH		SOLE		38,852	0	7,335
DISNEY WALT CO	COM DISNEY	254687106	238	2,969	SH		SOLE		2,969	0	0
DOMINION RES INC VA NEW	COM	25746U109	583	8,212	SH		SOLE		8,212	0	0
DOUGLAS DYNAMICS INC	COM	25960R105	3,062	175,769	SH		SOLE		151,837	0	23,932
DOW CHEM CO	COM	260543103	397	8,170	SH		SOLE		8,170	0	0
DU PONT E I DE NEMOURS & CO	COM	263534109	812	12,100	SH		SOLE		12,100	0	0
DUKE ENERGY CORP NEW	COM NEW	26441C204	2,495	35,039	SH		SOLE		28,818	0	6,221
ENBRIDGE ENERGY MANAGEMENT L	SHS UNITS LLI	29250X103	574	20,729	SH		SOLE		13,388	0	7,340
ENTERPRISE PRODS PARTNERS L	COM	293792107	3,406	49,099	SH		SOLE		44,114	0	4,985
EQT CORP	COM	26884L109	315	3,250	SH		SOLE		3,250	0	0
EXPRESS SCRIPTS HLDG CO	COM	30219G108	253	3,370	SH		SOLE		3,370	0	0
EXXON MOBIL CORP	COM	30231G102	1,581	16,181	SH		SOLE		16,181	0	0
FELCOR LODGING TR INC	COM	31430F101	293	32,450	SH		SOLE		32,450	0	0
FLOWSERVE CORP	COM	34354P105	659	8,413	SH		SOLE		8,413	0	0
FLY LEASING LTD	SPONSORED ADR	34407D109	3,339	222,632	SH		SOLE		191,620	0	31,012
FREEPORT-MCMORAN COPPER & GO	COM	35671D857	293	8,850	SH		SOLE		8,850	0	0
GARMIN LTD	SHS	H2906T109	4,191	75,839	SH		SOLE		64,165	0	11,674
GENERAL ELECTRIC CO	COM	369604103	1,705	65,869	SH		SOLE		65,869	0	0
GENESEE & WYO INC	CL A	371559105	202	2,073	SH		SOLE		2,073	0	0
GILEAD SCIENCES INC	COM	375558103	275	3,875	SH		SOLE		3,875	0	0
GLAXOSMITHKLINE PLC	SPONSORED ADR	37733W105	380	7,113	SH		SOLE		7,113	0	0
GRAY TELEVISION INC	COM	389375106	309	29,752	SH		SOLE		29,752	0	0
HCP INC	COM	40414L109	317	8,175	SH		SOLE		8,175	0	0
HEALTH CARE REIT INC	COM	42217K106	463	7,770	SH		SOLE		7,770	0	0
HEALTHCARE RLTY TR	COM	421946104	251	10,375	SH		SOLE		10,375	0	0
HERCULES TECH GROWTH CAP INC	COM	427096508	3,342	237,513	SH		SOLE		201,320	0	36,193
HOLLYFRONTIER CORP	COM	436106108	3,558	74,770	SH		SOLE		64,410	0	10,360
HOME DEPOT INC	COM	437076102	647	8,175	SH		SOLE		8,175	0	0
INTEL CORP	COM	458140100	3,139	121,584	SH		SOLE		104,014	0	17,570
INTERNATIONAL BUSINESS MACHS	COM	459200101	709	3,683	SH		SOLE		3,683	0	0
INVESCO BD FD	COM	46132L107	200	11,000	SH		SOLE		11,000	0	0
ISHARES	CORE S&P500 ETF	464287200	376	2,000	SH		SOLE		2,000	0	0
ISHARES	RUS MID-CAP ETF	464287499	202	1,307	SH		SOLE		1,307	0	0
ISHARES	IBOXX HI YD ETF	464288513	210	2,225	SH		SOLE		2,225	0	0
ISTAR FINL INC	COM	45031U101	218	14,802	SH		SOLE		14,802	0	0
JOHNSON & JOHNSON	COM	478160104	2,772	28,218	SH		SOLE		27,791	0	427
JPMORGAN CHASE & CO	COM	46625H100	1,009	16,621	SH		SOLE		16,621	0	0
KIMBERLY CLARK CORP	COM	494368103	476	4,313	SH		SOLE		4,313	0	0
KINDER MORGAN MANAGEMENT LLC	SHS	49455U100	504	7,037	SH		SOLE		4,174	0	2,863
KRAFT FOODS GROUP INC	COM	50076Q106	496	8,843	SH		SOLE		8,843	0	0
LIBERTY PPTY TR	SH BEN INT	531172104	3,053	82,594	SH		SOLE		70,082	0	12,512
LINNCO LLC	COMSHS LTD INT	535782106	419	15,487	SH		SOLE		10,620	0	4,867
MAGELLAN MIDSTREAM PRTNRS LP	COM UNIT RP LP	559080106	3,270	46,895	SH		SOLE		40,755	0	6,140
MARKWEST ENERGY PARTNERS L P	UNIT LTD PARTN	570759100	295	4,517	SH		SOLE		4,517	0	0
MCCORMICK & CO INC	COM NON VTG	579780206	7,683	107,301	SH		SOLE		107,301	0	0
MCDONALDS CORP	COM	580135101	621	6,331	SH		SOLE		6,331	0	0
MCKESSON CORP	COM	58155Q103	391	2,214	SH		SOLE		2,214	0	0
MEI PHARMA INC	COM NEW	55279B202	148	13,253	SH		SOLE		13,253	0	0
MERCK & CO INC NEW	COM	58933Y105	1,050	18,494	SH		SOLE		18,494	0	0
MFS CHARTER INCOME TR	SH BEN INT	552727109	370	40,575	SH		SOLE		40,575	0	0
MFS GOVT MKTS INCOME TR	SH BEN INT	552939100	606	106,250	SH		SOLE		106,250	0	0
MICROCHIP TECHNOLOGY INC	COM	595017104	3,339	69,909	SH		SOLE		58,141	0	11,768
MICROSOFT CORP	COM	594918104	350	8,540	SH		SOLE		8,540	0	0
MONRO MUFFLER BRAKE INC	COM	610236101	266	4,672	SH		SOLE		4,672	0	0
MONSANTO CO NEW	COM	61166W101	542	4,765	SH		SOLE		4,765	0	0
MORGAN STANLEY TRUSTS	INCOME SECS INC	61745P874	275	15,650	SH		SOLE		15,650	0	0
NATIONAL CINEMEDIA INC	COM	635309107	2,828	188,505	SH		SOLE		161,445	0	27,060
NATIONAL GRID PLC	SPON ADR NEW	636274300	230	3,345	SH		SOLE		3,345	0	0
NATIONAL RETAIL PPTYS INC	COM	637417106	3,117	90,811	SH		SOLE		77,983	0	12,828
NATURAL RESOURCE PARTNERS L	COM UNIT L P	63900P103	1,173	73,694	SH		SOLE		66,094	0	7,600
NEWPARK RES INC	COM PAR $.01NEW	651718504	219	19,088	SH		SOLE		19,088	0	0
NOVARTIS A G	SPONSORED ADR	66987V109	633	7,450	SH		SOLE		7,450	0	0
NUSTAR ENERGY LP	UNIT COM	67058H102	2,063	37,535	SH		SOLE		33,525	0	4,010
NUTRI SYS INC NEW	COM	67069D108	2,820	187,116	SH		SOLE		157,923	0	29,193
PAYCHEX INC	COM	704326107	2,978	69,911	SH		SOLE		56,867	0	13,044
PEPSICO INC	COM	713448108	433	5,188	SH		SOLE		5,188	0	0
PFIZER INC	COM	717081103	4,049	126,055	SH		SOLE		107,440	0	18,615
PIMCO ETF TR	0-5 HIGH YIELD	72201R783	203	1,900	SH		SOLE		1,900	0	0
PLAINS ALL AMERN PIPELINE L	UNIT LTD PARTN	726503105	294	5,340	SH		SOLE		5,340	0	0
PPL CORP	COM	69351T106	2,736	82,547	SH		SOLE		69,829	0	12,718
PRIMO WTR CORP	COM	74165N105	46	11,857	SH		SOLE		11,857	0	0
PROCTER & GAMBLE CO	COM	742718109	1,006	12,485	SH		SOLE		12,485	0	0
PUTMAN HIGH INCOME SEC FUND	SHS BEN INT	746779107	91	10,825	SH		SOLE		10,825	0	0
PUTNAM MANAGED MUN INCOM TR	COM	746823103	157	22,500	SH		SOLE		22,500	0	0
PUTNAM PREMIER INCOME TR	SH BEN INT	746853100	332	60,000	SH		SOLE		60,000	0	0
QUALCOMM INC	COM	747525103	353	4,475	SH		SOLE		4,475	0	0
SABRA HEALTH CARE REIT INC	COM	78573L106	2,721	97,554	SH		SOLE		83,465	0	14,089
SANDY SPRING BANCORP INC	COM	800363103	662	26,500	SH		SOLE		26,500	0	0
SANOFI	SPONSORED ADR	80105N105	497	9,516	SH		SOLE		9,516	0	0
SHORE BANCSHARES INC	COM	825107105	600	63,085	SH		SOLE		63,085	0	0
SIMON PPTY GROUP INC NEW	COM	828806109	350	2,132	SH		SOLE		2,132	0	0
SIX FLAGS ENTMT CORP NEW	COM	83001A102	3,658	91,103	SH		SOLE		77,920	0	13,183
SONIC AUTOMOTIVE INC	CL A	83545G102	208	9,237	SH		SOLE		9,237	0	0
SPDR INDEX SHS FDS	EMERG MKTS ETF	78463X509	864	13,633	SH		SOLE		13,633	0	0
SPDR S&P 500 ETF TR	TR UNIT	78462F103	2,265	12,111	SH		SOLE		12,111	0	0
SPDR S&P MIDCAP 400 ETF TR	UTSER1 S&PDCRP	78467Y107	1,518	6,059	SH		SOLE		6,059	0	0
STAMPS COM INC	COM NEW	852857200	250	7,435	SH		SOLE		7,435	0	0
SUNCOKE ENERGY PARTNERS L P	COMUNIT REP LT	86722Y101	207	7,083	SH		SOLE		7,083	0	0
TAL INTL GROUP INC	COM	874083108	3,264	76,145	SH		SOLE		65,265	0	10,880
TARGA RESOURCES PARTNERS LP	COM UNIT	87611X105	2,585	45,951	SH		SOLE		40,940	0	5,011
TEEKAY LNG PARTNERS L P	PRTNRSP UNITS	Y8564M105	2,598	62,863	SH		SOLE		56,582	0	6,281
TEEKAY OFFSHORE PARTNERS L P	PARTNERSHIP UN	Y8565J101	702	21,460	SH		SOLE		14,095	0	7,365
TEMPLETON GLOBAL INCOME FD	COM	880198106	191	23,756	SH		SOLE		23,756	0	0
TIME WARNER INC	COM NEW	887317303	234	3,576	SH		SOLE		3,576	0	0
TRAVELCENTERS OF AMERICA LLC	COM	894174101	139	17,116	SH		SOLE		17,116	0	0
VANGUARD INDEX FDS	REIT ETF	922908553	292	4,135	SH		SOLE		4,135	0	0
VANGUARD INDEX FDS	SMALL CP ETF	922908751	2,234	19,783	SH		SOLE		19,783	0	0
VANGUARD INTL EQUITY INDEX F	ALLWRLD EX US	922042775	1,670	33,185	SH		SOLE		33,185	0	0
VANGUARD INTL EQUITY INDEX F	FTSE EMR MKT ETF	922042858	217	5,345	SH		SOLE		5,345	0	0
VANGUARD NAT RES LLC	COM UNIT	92205F106	2,694	90,503	SH		SOLE		81,483	0	9,020
VANGUARD TAX MANAGED INTL FD	FTSE DEV MKT ETF	921943858	216	5,243	SH		SOLE		5,243	0	0
VANTAGE DRILLING COMPANY	ORD SHS	G93205113	111	64,808	SH		SOLE		64,808	0	0
VENTAS INC	COM	92276F100	3,405	56,213	SH		SOLE		49,103	0	7,110
VERIZON COMMUNICATIONS INC	COM	92343V104	3,503	73,633	SH		SOLE		63,466	0	10,167
VODAFONE GROUP PLC NEW	SPNSR ADR NO PAR	92857W308	335	9,100	SH		SOLE		9,100	0	0
WASTE MGMT INC DEL	COM	94106L109	2,836	67,406	SH		SOLE		55,658	0	11,748
WESTERN ASSET HIGH INCM OPP	COM	95766K109	212	35,100	SH		SOLE		35,100	0	0
WESTERN ASSET MGD HI INCM FD	COM	95766L107	100	17,500	SH		SOLE		17,500	0	0
WESTERN ASSET MUN HI INCM FD	COM	95766N103	217	31,000	SH		SOLE		31,000	0	0
WESTPAC BKG CORP	SPONSORED ADR	961214301	212	6,610	SH		SOLE		6,610	0	0
WHITE MTNS INS GROUP LTD	COM	G9618E107	240	400	SH		SOLE		400	0	0
WINDSTREAM HLDGS INC	COM	97382A101	2,069	251,080	SH		SOLE		207,228	0	43,852
XERIUM TECHNOLOGIES INC	COM NEW	98416J118	217	13,532	SH		SOLE		13,532	0	0