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
3M CO	COM	88579Y101	318	1,514	SH		SOLE		1,514	0	0
ABBOTT LABS	COM	002824100	821	15,390	SH		SOLE		15,390	0	0
ABBVIE INC	COM	00287Y109	1,272	14,316	SH		SOLE		14,316	0	0
AGRIUM INC	COM	008916108	201	1,875	SH		SOLE		1,875	0	0
AIR PRODS & CHEMS INC	COM	009158106	212	1,400	SH		SOLE		1,400	0	0
ALBANY INTL CORP	CL A	012348108	712	12,409	SH		SOLE		12,409	0	0
ALPHABET INC	CAP STK CL C	02079K107	604	630	SH		SOLE		630	0	0
ALPHABET INC	CAP STK CL A	02079K305	375	385	SH		SOLE		385	0	0
ALPS ETF TR	ALERIAN MLP	00162Q866	129	11,500	SH		SOLE		11,500	0	0
ALTRIA GROUP INC	COM	02209S103	345	5,438	SH		SOLE		5,438	0	0
AMAZON COM INC	COM	023135106	487	507	SH		SOLE		507	0	0
AMERICAN ELEC PWR INC	COM	025537101	617	8,789	SH		SOLE		8,789	0	0
AMERICAN WTR WKS CO INC NEW	COM	030420103	492	6,075	SH		SOLE		6,075	0	0
AMGEN INC	COM	031162100	771	4,137	SH		SOLE		4,137	0	0
ANHEUSER BUSCH INBEV SA/NV	SPONSORED ADR	03524A108	381	3,191	SH		SOLE		3,191	0	0
APPLE INC	COM	037833100	1,485	9,636	SH		SOLE		9,636	0	0
APPLIED MATLS INC	COM	038222105	775	14,875	SH		SOLE		14,875	0	0
ARCH CAP GROUP LTD	ORD	G0450A105	296	3,000	SH		SOLE		3,000	0	0
AT&T INC	COM	00206R102	815	20,797	SH		SOLE		20,797	0	0
AUTOMATIC DATA PROCESSING IN	COM	053015103	231	2,113	SH		SOLE		2,113	0	0
B & G FOODS INC NEW	COM	05508R106	4,490	140,960	SH		SOLE		140,424	0	535
BANCO DE CHILE	SPONSORED ADR	059520106	698	7,654	SH		SOLE		7,654	0	0
BERKSHIRE HATHAWAY INC DEL	CL B NEW	084670702	283	1,546	SH		SOLE		1,546	0	0
BLACKSTONE GROUP L P	COM UNIT LTD	09253U108	707	21,200	SH		SOLE		21,200	0	0
BRISTOL MYERS SQUIBB CO	COM	110122108	747	11,712	SH		SOLE		11,712	0	0
BRIXMOR PPTY GROUP INC	COM	11120U105	584	31,090	SH		SOLE		31,090	0	0
CELGENE CORP	COM	151020104	948	6,501	SH		SOLE		6,501	0	0
CENTURYLINK INC	COM	156700106	4,304	227,727	SH		SOLE		226,532	0	1,195
CHEVRON CORP NEW	COM	166764100	4,370	37,191	SH		SOLE		36,959	0	232
CHINA MOBILE LIMITED	SPONSORED ADR	16941M109	941	18,599	SH		SOLE		18,599	0	0
CISCO SYS INC	COM	17275R102	1,117	33,200	SH		SOLE		33,200	0	0
COCA COLA CO	COM	191216100	271	6,017	SH		SOLE		6,017	0	0
COMPASS DIVERSIFIED HOLDINGS	SH BEN INT	20451Q104	4,047	227,982	SH		SOLE		227,015	0	967
CREDIT SUISSE ASSET MGMT INC	COM	224916106	142	42,000	SH		SOLE		42,000	0	0
DELPHI AUTOMOTIVE PLC	SHS	G27823106	900	9,143	SH		SOLE		9,143	0	0
DISNEY WALT CO	COM DISNEY	254687106	485	4,922	SH		SOLE		4,922	0	0
DOMINION ENERGY INC	COM	25746U109	244	3,178	SH		SOLE		3,178	0	0
DOUGLAS DYNAMICS INC	COM	25960R105	6,512	165,268	SH		SOLE		164,542	0	726
DOWDUPONT INC	COM	26078J100	1,088	15,718	SH		SOLE		15,718	0	0
DR PEPPER SNAPPLE GROUP INC	COM	26138E109	389	4,400	SH		SOLE		4,400	0	0
DUKE ENERGY CORP NEW	COM NEW	26441C204	4,013	47,815	SH		SOLE		47,585	0	230
ENBRIDGE ENERGY MANAGEMENT L	SHS UNITS LLI	29250X103	629	40,694	SH		SOLE		40,694	0	0
ENERGY TRANSFER EQUITY L P	COM UT LTD PTN	29273V100	200	11,500	SH		SOLE		11,500	0	0
ENTERPRISE PRODS PARTNERS L	COM	293792107	3,569	136,912	SH		SOLE		136,170	0	742
EVEREST RE GROUP LTD	COM	G3223R108	408	1,787	SH		SOLE		1,787	0	0
EXXON MOBIL CORP	COM	30231G102	899	10,960	SH		SOLE		10,960	0	0
FACEBOOK INC	CL A	30303M102	1,512	8,849	SH		SOLE		8,849	0	0
FARMLAND PARTNERS INC	COM	31154R109	3,136	346,873	SH		SOLE		345,298	0	1,575
FISERV INC	COM	337738108	845	6,555	SH		SOLE		6,555	0	0
GARMIN LTD	SHS	H2906T109	3,755	69,582	SH		SOLE		69,247	0	335
GENERAL ELECTRIC CO	COM	369604103	556	23,001	SH		SOLE		23,001	0	0
GENERAL MTRS CO	COM	37045V100	5,345	132,376	SH		SOLE		131,791	0	584
GLAXOSMITHKLINE PLC	SPONSORED ADR	37733W105	1,151	28,352	SH		SOLE		28,352	0	0
GPO AEROPORTUARIO DEL PAC SA	SPON ADR B	400506101	1,621	15,810	SH		SOLE		15,810	0	0
HANESBRANDS INC	COM	410345102	865	35,116	SH		SOLE		35,116	0	0
HANNON ARMSTRONG SUST INFR C	COM	41068X100	6,681	274,164	SH		SOLE		272,542	0	1,622
HERCULES CAPITAL INC	COM	427096508	4,229	327,859	SH		SOLE		326,311	0	1,548
HOME DEPOT INC	COM	437076102	2,288	13,986	SH		SOLE		13,986	0	0
INTEL CORP	COM	458140100	641	16,830	SH		SOLE		16,830	0	0
INTERNATIONAL BUSINESS MACHS	COM	459200101	522	3,601	SH		SOLE		3,601	0	0
INVESCO BD FD	COM	46132L107	440	22,000	SH		SOLE		22,000	0	0
IRON MTN INC NEW	COM	46284V101	4,916	126,378	SH		SOLE		125,719	0	659
ISHARES TR	SELECT DIVID ETF	464287168	234	2,500	SH		SOLE		2,500	0	0
ISHARES TR	CORE S&P500 ETF	464287200	285	1,125	SH		SOLE		1,125	0	0
ISHARES TR	MSCI EAFE ETF	464287465	578	8,441	SH		SOLE		8,441	0	0
ISHARES TR	RUS MID CAP ETF	464287499	1,222	6,196	SH		SOLE		6,196	0	0
JOHNSON & JOHNSON	COM	478160104	1,638	12,601	SH		SOLE		12,601	0	0
JPMORGAN CHASE & CO	COM	46625H100	886	9,277	SH		SOLE		9,277	0	0
KIMBERLY CLARK CORP	COM	494368103	445	3,779	SH		SOLE		3,779	0	0
KINDER MORGAN INC DEL	COM	49456B101	720	37,564	SH		SOLE		37,564	0	0
KRAFT HEINZ CO	COM	500754106	448	5,780	SH		SOLE		5,780	0	0
LABORATORY CORP AMER HLDGS	COM NEW	50540R409	226	1,500	SH		SOLE		1,500	0	0
LAMAR ADVERTISING CO NEW	CL A	512816109	4,710	68,731	SH		SOLE		68,433	0	297
LAS VEGAS SANDS CORP	COM	517834107	1,380	21,515	SH		SOLE		21,515	0	0
LAZARD LTD	SHS A	G54050102	744	16,460	SH		SOLE		16,460	0	0
LILLY ELI & CO	COM	532457108	489	5,715	SH		SOLE		5,715	0	0
LOCKHEED MARTIN CORP	COM	539830109	676	2,177	SH		SOLE		2,177	0	0
LOWES COS INC	COM	548661107	369	4,611	SH		SOLE		4,611	0	0
MAGELLAN MIDSTREAM PRTNRS LP	COM UNIT RP LP	559080106	3,174	44,670	SH		SOLE		44,277	0	393
MARRIOTT INTL INC NEW	CL A	571903202	594	5,389	SH		SOLE		5,389	0	0
MCCORMICK & CO INC	COM NON VTG	579780206	8,508	82,887	SH		SOLE		82,887	0	0
MCDONALDS CORP	COM	580135101	509	3,246	SH		SOLE		3,246	0	0
MEDTRONIC PLC	SHS	G5960L103	839	10,789	SH		SOLE		10,789	0	0
MERCK & CO INC	COM	58933Y105	570	8,894	SH		SOLE		8,894	0	0
MFS CHARTER INCOME TR	SH BEN INT	552727109	479	55,200	SH		SOLE		55,200	0	0
MFS GOVT MKTS INCOME TR	SH BEN INT	552939100	202	40,900	SH		SOLE		40,900	0	0
MFS MULTIMARKET INCOME TR	SH BEN INT	552737108	99	15,850	SH		SOLE		15,850	0	0
MGM GROWTH PPTYS LLC	CL A COM	55303A105	540	17,860	SH		SOLE		17,860	0	0
MICROSOFT CORP	COM	594918104	804	10,792	SH		SOLE		10,792	0	0
MID AMER APT CMNTYS INC	COM	59522J103	662	6,193	SH		SOLE		6,193	0	0
MILESTONE SCIENTIFIC INC	COM NEW	59935P209	51	40,500	SH		SOLE		40,500	0	0
MOHAWK INDS INC	COM	608190104	723	2,921	SH		SOLE		2,921	0	0
MYLAN N V	SHS EURO	N59465109	456	14,527	SH		SOLE		14,527	0	0
NATIONAL CINEMEDIA INC	COM	635309107	1,555	222,744	SH		SOLE		221,790	0	953
NATIONAL GRID PLC	SPONSORED ADR NE	636274409	1,463	23,335	SH		SOLE		23,335	0	0
NATIONAL RETAIL PPTYS INC	COM	637417106	5,100	122,429	SH		SOLE		121,850	0	579
NETSCOUT SYS INC	COM	64115T104	323	9,988	SH		SOLE		9,988	0	0
NEW MEDIA INVT GROUP INC	COM	64704V106	4,145	280,263	SH		SOLE		279,027	0	1,236
NEWELL BRANDS INC	COM	651229106	487	11,402	SH		SOLE		11,402	0	0
NEXTERA ENERGY INC	COM	65339F101	208	1,420	SH		SOLE		1,420	0	0
NEXTERA ENERGY PARTNERS LP	COM UNIT PART IN	65341B106	272	6,750	SH		SOLE		6,750	0	0
NIKE INC	CL B	654106103	207	4,000	SH		SOLE		4,000	0	0
NORTHROP GRUMMAN CORP	COM	666807102	861	2,991	SH		SOLE		2,991	0	0
NOVARTIS A G	SPONSORED ADR	66987V109	537	6,250	SH		SOLE		6,250	0	0
NUCOR CORP	COM	670346105	510	9,100	SH		SOLE		9,100	0	0
NUSTAR ENERGY LP	UNIT COM	67058H102	2,863	70,546	SH		SOLE		70,071	0	475
ONEOK INC NEW	COM	682680103	889	16,046	SH		SOLE		16,046	0	0
PALO ALTO NETWORKS INC	COM	697435105	784	5,443	SH		SOLE		5,443	0	0
PARTY CITY HOLDCO INC	COM	702149105	492	36,328	SH		SOLE		36,328	0	0
PEPSICO INC	COM	713448108	481	4,321	SH		SOLE		4,321	0	0
PFIZER INC	COM	717081103	4,844	135,690	SH		SOLE		135,145	0	545
PITNEY BOWES INC	COM	724479100	4,347	310,248	SH		SOLE		308,853	0	1,395
PNC FINL SVCS GROUP INC	COM	693475105	201	1,493	SH		SOLE		1,493	0	0
POWERSHARES ETF TRUST	FTSE RAFI 1000	73935X583	216	2,019	SH		SOLE		2,019	0	0
PPL CORP	COM	69351T106	3,346	88,170	SH		SOLE		87,705	0	465
PROCTER AND GAMBLE CO	COM	742718109	914	10,041	SH		SOLE		10,041	0	0
PROSHARES TR	ULTPRO SHT NAS	74347B623	104	10,000	SH		SOLE		10,000	0	0
PUTMAN HIGH INCOME SEC FUND	SHS BEN INT	746779107	246	27,500	SH		SOLE		27,500	0	0
PUTNAM MANAGED MUN INCOM TR	COM	746823103	151	20,000	SH		SOLE		20,000	0	0
PUTNAM PREMIER INCOME TR	SH BEN INT	746853100	137	25,750	SH		SOLE		25,750	0	0
QUALCOMM INC	COM	747525103	4,474	86,299	SH		SOLE		85,919	0	380
RIO TINTO PLC	SPONSORED ADR	767204100	1,422	30,129	SH		SOLE		30,129	0	0
ROSS STORES INC	COM	778296103	528	8,175	SH		SOLE		8,175	0	0
ROYAL DUTCH SHELL PLC	SPON ADR B	780259107	1,429	22,845	SH		SOLE		22,845	0	0
ROYAL DUTCH SHELL PLC	SPONS ADR A	780259206	236	3,895	SH		SOLE		3,895	0	0
RYMAN HOSPITALITY PPTYS INC	COM	78377T107	4,925	78,820	SH		SOLE		78,409	0	411
SABRA HEALTH CARE REIT INC	COM	78573L106	4,149	189,090	SH		SOLE		188,232	0	858
SANDY SPRING BANCORP INC	COM	800363103	821	19,817	SH		SOLE		19,817	0	0
SASOL LTD	SPONSORED ADR	803866300	300	10,900	SH		SOLE		10,900	0	0
SCORPIO TANKERS INC	SHS	Y7542C106	2,356	686,821	SH		SOLE		683,296	0	3,525
SEAGATE TECHNOLOGY PLC	SHS	G7945M107	4,817	145,235	SH		SOLE		144,550	0	685
SHERWIN WILLIAMS CO	COM	824348106	562	1,569	SH		SOLE		1,569	0	0
SHORE BANCSHARES INC	COM	825107105	1,055	63,393	SH		SOLE		63,393	0	0
SIMON PPTY GROUP INC NEW	COM	828806109	510	3,167	SH		SOLE		3,167	0	0
SIX FLAGS ENTMT CORP NEW	COM	83001A102	4,535	74,420	SH		SOLE		74,099	0	320
SMTC CORP	COM NEW	832682207	21	15,977	SH		SOLE		15,977	0	0
SPDR INDEX SHS FDS	EMERG MKTS ETF	78463X509	425	5,870	SH		SOLE		5,870	0	0
SPDR S&P 500 ETF TR	TR UNIT	78462F103	1,706	6,789	SH		SOLE		6,789	0	0
SPDR S&P MIDCAP 400 ETF TR	UTSER1 S&PDCRP	78467Y107	1,975	6,053	SH		SOLE		6,053	0	0
SUMITOMO MITSUI FINL GROUP I	SPONSORED ADR	86562M209	1,225	158,947	SH		SOLE		158,947	0	0
SUNRUN INC	COM	86771W105	56	10,000	SH		SOLE		10,000	0	0
TAIWAN SEMICONDUCTOR MFG LTD	SPONSORED ADR	874039100	1,136	30,245	SH		SOLE		30,245	0	0
TALLGRASS ENERGY PARTNERS LP	COM UNIT	874697105	216	4,500	SH		SOLE		4,500	0	0
TANGER FACTORY OUTLET CTRS I	COM	875465106	4,288	175,605	SH		SOLE		174,790	0	815
TARGA RES CORP	COM	87612G101	5,403	114,230	SH		SOLE		113,656	0	574
TARGET CORP	COM	87612E106	4,698	79,608	SH		SOLE		79,608	0	0
TEMPLETON GLOBAL INCOME FD	COM	880198106	84	12,500	SH		SOLE		12,500	0	0
TERADYNE INC	COM	880770102	532	14,275	SH		SOLE		14,275	0	0
THL CR INC	COM	872438106	93	10,000	SH		SOLE		10,000	0	0
TIME WARNER INC	COM NEW	887317303	495	4,835	SH		SOLE		4,835	0	0
TOTAL S A	SPONSORED ADR	89151E109	1,022	19,105	SH		SOLE		19,105	0	0
TOYOTA MOTOR CORP	SP ADR REP2COM	892331307	1,185	9,945	SH		SOLE		9,945	0	0
UNION PAC CORP	COM	907818108	255	2,200	SH		SOLE		2,200	0	0
UNITED RENTALS INC	COM	911363109	1,268	9,140	SH		SOLE		9,140	0	0
UNITED TECHNOLOGIES CORP	COM	913017109	510	4,391	SH		SOLE		4,391	0	0
UNITI GROUP INC	COM	91325V108	163	11,144	SH		SOLE		11,144	0	0
VANGUARD INDEX FDS	SM CP VAL ETF	922908611	313	2,450	SH		SOLE		2,450	0	0
VANGUARD INDEX FDS	MID CAP ETF	922908629	269	1,833	SH		SOLE		1,833	0	0
VANGUARD INDEX FDS	SMALL CP ETF	922908751	3,192	22,587	SH		SOLE		22,587	0	0
VANGUARD INTL EQUITY INDEX F	ALLWRLD EX US	922042775	582	11,037	SH		SOLE		11,037	0	0
VANGUARD INTL EQUITY INDEX F	FTSE EMR MKT ETF	922042858	323	7,408	SH		SOLE		7,408	0	0
VANGUARD WORLD FD	EXTENDED DUR	921910709	1,071	9,175	SH		SOLE		9,175	0	0
VENTAS INC	COM	92276F100	4,023	61,772	SH		SOLE		61,493	0	280
VERIZON COMMUNICATIONS INC	COM	92343V104	4,812	97,233	SH		SOLE		96,875	0	359
VMWARE INC	CL A COM	928563402	679	6,220	SH		SOLE		6,220	0	0
WALGREENS BOOTS ALLIANCE INC	COM	931427108	584	7,560	SH		SOLE		7,560	0	0
WELLS FARGO CO NEW	COM	949746101	555	10,065	SH		SOLE		10,065	0	0
WESTERN ASSET HIGH INCM OPP	COM	95766K109	77	15,000	SH		SOLE		15,000	0	0
WESTERN ASSET MUN HI INCM FD	COM	95766N103	165	21,350	SH		SOLE		21,350	0	0
WESTERN DIGITAL CORP	COM	958102105	4,934	57,106	SH		SOLE		56,788	0	319
WESTPAC BKG CORP	SPONSORED ADR	961214301	1,268	50,295	SH		SOLE		50,295	0	0
ZIMMER BIOMET HLDGS INC	COM	98956P102	679	5,800	SH		SOLE		5,800	0	0