Bahl & Gaynor 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 Company	COM	88579Y101	18,772	157,204	SH		SOLE		0	0	157,204
Aaron's, Inc.	COM	002535300	240	8,653	SH		SOLE		0	0	8,653
Abaxis Inc.	COM	002567105	534	12,670	SH		SOLE		0	0	12,670
ABB Ltd	COM	000375204	361	15,293	SH		SOLE		0	0	15,293
Abbott Laboratories	COM	002824100	50,384	1,518,062	SH		SOLE		0	0	1,518,062
AbbVie Inc.	COM	00287Y109	70,903	1,585,139	SH		SOLE		0	0	1,585,139
Accenture Ltd	COM	G1151C101	51,571	700,312	SH		SOLE		0	0	700,312
Adidas AG Spon ADR	COM	00687A107	358	6,610	SH		SOLE		0	0	6,610
Advanced Cell Technology Inc.	COM	00752K105	4	50,000	SH		SOLE		0	0	50,000
AFLAC Inc.	COM	001055102	248	4,008	SH		SOLE		0	0	4,008
AGL Resources Inc	COM	001204106	4,294	93,290	SH		SOLE		0	0	93,290
Air Products & Chemicals	COM	009158106	12,295	115,371	SH		SOLE		0	0	115,371
Airgas Inc.	COM	009363102	4,238	39,960	SH		SOLE		0	0	39,960
Altria Group Inc	COM	02209S103	41,230	1,200,300	SH		SOLE		0	0	1,200,300
American Express Co.	COM	025816109	250	3,307	SH		SOLE		0	0	3,307
American Financial Group	COM	025932104	395	7,311	SH		SOLE		0	0	7,311
American Science & Engineering	COM	029429107	290	4,810	SH		SOLE		0	0	4,810
Amgen Inc.	COM	031162100	58,761	525,007	SH		SOLE		0	0	525,007
Analog Devices Inc.	COM	032654105	48,144	1,023,253	SH		SOLE		0	0	1,023,253
Analogic Corporation	COM	032657207	452	5,475	SH		SOLE		0	0	5,475
Anheuser-Busch Inbev SA ADR	COM	03524A108	585	5,900	SH		SOLE		0	0	5,900
Apache Corporation	COM	037411105	213	2,502	SH		SOLE		0	0	2,502
Apple Inc.	COM	037833100	59,559	124,927	SH		SOLE		0	0	124,927
Applied Industrial Tech	COM	03820C105	26,335	511,365	SH		SOLE		0	0	511,365
AptarGroup Inc.	COM	038336103	3,741	62,215	SH		SOLE		0	0	62,215
Arc Resources Ltd.	COM	00208D408	299	11,735	SH		SOLE		0	0	11,735
Armanino Foods of Distinction	COM	042166801	19	11,200	SH		SOLE		0	0	11,200
Arthur J Gallagher & Co	COM	363576109	36,697	840,705	SH		SOLE		0	0	840,705
AT&T Inc.	COM	00206R102	42,001	1,241,890	SH		SOLE		0	0	1,241,890
Atrion Corporation	COM	049904105	387	1,495	SH		SOLE		0	0	1,495
Australia & NZ Bank	COM	052528304	316	11,050	SH		SOLE		0	0	11,050
Automatic Data Processing Inc.	COM	053015103	95,510	1,319,560	SH		SOLE		0	0	1,319,560
B&G Foods, Inc.	COM	05508R106	423	12,250	SH		SOLE		0	0	12,250
Balchem Corporation	COM	057665200	4,020	77,685	SH		SOLE		0	0	77,685
Bank of New York Mellon Corp.	COM	064058100	411	13,601	SH		SOLE		0	0	13,601
Bank of Nova Scotia	COM	064149107	8,202	143,109	SH		SOLE		0	0	143,109
Bank of the Ozarks Inc.	COM	063904106	1,127	23,510	SH		SOLE		0	0	23,510
Baxter International	COM	071813109	43,558	663,079	SH		SOLE		0	0	663,079
BB&T Corp	COM	054937107	24,096	713,945	SH		SOLE		0	0	713,945
BCE Inc.	COM	05534B760	43,384	1,016,029	SH		SOLE		0	0	1,016,029
Beam Inc.	COM	073730103	611	9,456	SH		SOLE		0	0	9,456
Becton Dickinson & Co.	COM	075887109	40,631	406,226	SH		SOLE		0	0	406,226
Berkshire Hathaway cl A	COM	084670108	3,238	19	SH		SOLE		0	0	19
Berkshire Hathaway cl B	COM	084670702	6,481	57,097	SH		SOLE		0	0	57,097
BHP Billiton Limited	COM	088606108	7,196	108,209	SH		SOLE		0	0	108,209
Blackbaud, Inc.	COM	09227Q100	442	11,315	SH		SOLE		0	0	11,315
Blackrock Inc.	COM	09247X101	49,827	184,120	SH		SOLE		0	0	184,120
Bnp Paribas ADR	COM	05565A202	340	10,050	SH		SOLE		0	0	10,050
BOK Financial Corp.	COM	05561Q201	3,262	51,490	SH		SOLE		0	0	51,490
BP PLC ADS	COM	055622104	276	6,568	SH		SOLE		0	0	6,568
BRF S.A.	COM	10552T107	339	13,830	SH		SOLE		0	0	13,830
Bridgestone Corporation	COM	108441205	430	5,870	SH		SOLE		0	0	5,870
Brinker International	COM	109641100	413	10,190	SH		SOLE		0	0	10,190
Bristol-Myers Squibb Co.	COM	110122108	59,586	1,287,511	SH		SOLE		0	0	1,287,511
Brookfield Infrastructure Prtn	COM	G16252101	333	8,750	SH		SOLE		0	0	8,750
Brown-Forman cl B	COM	115637209	1,699	24,939	SH		SOLE		0	0	24,939
Brown & Brown Inc	COM	115236101	441	13,740	SH		SOLE		0	0	13,740
Buckle Inc.	COM	118440106	519	9,607	SH		SOLE		0	0	9,607
C.H. Robinson Worldwide, Inc.	COM	12541W209	2,852	47,855	SH		SOLE		0	0	47,855
C.R. Bard, Inc.	COM	067383109	2,017	17,513	SH		SOLE		0	0	17,513
Calumet Specialty Products	COM	131476103	201	7,350	SH		SOLE		0	0	7,350
Camden Property Trust	COM	133131102	10,254	166,900	SH		SOLE		0	0	166,900
Canadian Energy Service	COM	13566W108	464	27,800	SH		SOLE		0	0	27,800
Canadian Imperial Bank	COM	136069101	1,486	18,631	SH		SOLE		0	0	18,631
Cantel Medical Corp.	COM	138098108	628	19,721	SH		SOLE		0	0	19,721
Carbo Ceramics Inc.	COM	140781105	2,312	23,330	SH		SOLE		0	0	23,330
Caterpillar Inc	COM	149123101	2,432	29,164	SH		SOLE		0	0	29,164
Cedar Fair L.P.	COM	150185106	439	10,058	SH		SOLE		0	0	10,058
Central Japan Railway ADR	COM	153766100	448	34,950	SH		SOLE		0	0	34,950
Chemed Corporation	COM	16359R103	776	10,849	SH		SOLE		0	0	10,849
Chevron Corp	COM	166764100	138,282	1,138,125	SH		SOLE		0	0	1,138,125
Chubb Corp	COM	171232101	524	5,874	SH		SOLE		0	0	5,874
Church & Dwight Co Inc	COM	171340102	31,312	521,432	SH		SOLE		0	0	521,432
Cimarex Energy Co	COM	171798101	758	7,860	SH		SOLE		0	0	7,860
Cincinnati Financial Corp	COM	172062101	31,043	658,248	SH		SOLE		0	0	658,248
Cintas Corporation	COM	172908105	2,259	44,113	SH		SOLE		0	0	44,113
Cisco Systems Inc.	COM	17275R102	112,329	4,794,020	SH		SOLE		0	0	4,794,020
Citigroup Inc	COM	172967424	300	6,187	SH		SOLE		0	0	6,187
Clorox Company	COM	189054109	2,728	33,380	SH		SOLE		0	0	33,380
Cloud Peak Energy	COM	18911Q102	183	12,500	SH		SOLE		0	0	12,500
Coca-Cola Company	COM	191216100	114,062	3,011,144	SH		SOLE		0	0	3,011,144
Colgate-Palmolive Co	COM	194162103	2,384	40,194	SH		SOLE		0	0	40,194
Comcast cl A Special	COM	20030N200	362	8,345	SH		SOLE		0	0	8,345
Computer Programs & Systems	COM	205306103	486	8,315	SH		SOLE		0	0	8,315
Computer Task Group Inc	COM	205477102	306	18,940	SH		SOLE		0	0	18,940
ConocoPhillips	COM	20825C104	16,160	232,478	SH		SOLE		0	0	232,478
Costco Wholesale Corp	COM	22160K105	354	3,075	SH		SOLE		0	0	3,075
Crescent Point Energy Corp	COM	22576C101	2,585	68,075	SH		SOLE		0	0	68,075
CSX Corporation	COM	126408103	437	16,985	SH		SOLE		0	0	16,985
Cullen/Frost Bankers, Inc.	COM	229899109	100,871	1,429,776	SH		SOLE		0	0	1,429,776
CVS Caremark Corp.	COM	126650100	296	5,220	SH		SOLE		0	0	5,220
Danaher Corporation	COM	235851102	654	9,430	SH		SOLE		0	0	9,430
Darden Restaurants Inc	COM	237194105	721	15,581	SH		SOLE		0	0	15,581
Dentsply International Inc	COM	249030107	9,740	224,350	SH		SOLE		0	0	224,350
Devon Energy Corp	COM	25179M103	1,833	31,740	SH		SOLE		0	0	31,740
Diageo PLC ADS	COM	25243Q205	4,202	33,063	SH		SOLE		0	0	33,063
Digital Realty Trust, Inc	COM	253868103	4,991	93,996	SH		SOLE		0	0	93,996
Dominion Resources Inc.	COM	25746U109	293	4,690	SH		SOLE		0	0	4,690
Donaldson Co. Inc.	COM	257651109	7,033	184,445	SH		SOLE		0	0	184,445
Dover Corporation	COM	260003108	51,440	572,632	SH		SOLE		0	0	572,632
Dr. Pepper Snapple Group Inc	COM	26138E109	3,239	72,260	SH		SOLE		0	0	72,260
DSW Inc.	COM	23334L102	370	4,340	SH		SOLE		0	0	4,340
Duke Energy Corp	COM	26441C204	4,102	61,429	SH		SOLE		0	0	61,429
DuPont de Nemours & Co.	COM	263534109	1,068	18,237	SH		SOLE		0	0	18,237
Eastman Chemical Co.	COM	277432100	693	8,894	SH		SOLE		0	0	8,894
Ecolab Inc	COM	278865100	48,043	486,463	SH		SOLE		0	0	486,463
Eli Lilly & Co.	COM	532457108	2,984	59,284	SH		SOLE		0	0	59,284
EMC Corporation	COM	268648102	374	14,623	SH		SOLE		0	0	14,623
Emerson Electric Co.	COM	291011104	138,260	2,136,933	SH		SOLE		0	0	2,136,933
Enbridge Energy Partners	COM	29250R106	436	14,325	SH		SOLE		0	0	14,325
Enbridge Inc	COM	29250N105	36,031	863,215	SH		SOLE		0	0	863,215
Energy Transfer Partners LP	COM	29273R109	791	15,197	SH		SOLE		0	0	15,197
Ensco plc cl A	COM	G3157S106	322	6,000	SH		SOLE		0	0	6,000
Enterprise Products Part LP	COM	293792107	569	9,329	SH		SOLE		0	0	9,329
EOG Resources Inc	COM	26875P101	46,738	276,098	SH		SOLE		0	0	276,098
EPIQ Systems Inc.	COM	26882D109	286	21,685	SH		SOLE		0	0	21,685
Estee Lauder Cos Inc	COM	518439104	23,304	333,397	SH		SOLE		0	0	333,397
Express Scripts Holding Co.	COM	30219G108	877	14,187	SH		SOLE		0	0	14,187
Exxon Mobil Corporation	COM	30231G102	75,288	875,034	SH		SOLE		0	0	875,034
FactSet Research Systems, Inc.	COM	303075105	800	7,335	SH		SOLE		0	0	7,335
Family Dollar Stores, Inc.	COM	307000109	516	7,160	SH		SOLE		0	0	7,160
Fastenal Company	COM	311900104	5,311	105,652	SH		SOLE		0	0	105,652
Fidelity National Info Srv	COM	31620M106	319	6,873	SH		SOLE		0	0	6,873
Fifth Third Bancorp	COM	316773100	4,512	249,948	SH		SOLE		0	0	249,948
Fiserv Inc.	COM	337738108	4,040	39,976	SH		SOLE		0	0	39,976
FLIR Systems Inc.	COM	302445101	1,572	50,070	SH		SOLE		0	0	50,070
Flowserve Corporation	COM	34354P105	211	3,377	SH		SOLE		0	0	3,377
Franklin Resources, Inc.	COM	354613101	212	4,200	SH		SOLE		0	0	4,200
Franklin Street Propertie Corp	COM	35471R106	298	23,363	SH		SOLE		0	0	23,363
Freeport-McMoRan Copper	COM	35671D857	218	6,600	SH		SOLE		0	0	6,600
Fresenius Medical Care AG	COM	358029106	218	6,732	SH		SOLE		0	0	6,732
GasLog Ltd	COM	G37585109	345	23,140	SH		SOLE		0	0	23,140
General Dynamics Corp.	COM	369550108	518	5,918	SH		SOLE		0	0	5,918
General Electric Co	COM	369604103	94,931	3,973,682	SH		SOLE		0	0	3,973,682
General Mills Inc.	COM	370334104	15,123	315,596	SH		SOLE		0	0	315,596
Gentex Corporation	COM	371901109	3,518	137,470	SH		SOLE		0	0	137,470
Genuine Parts Company	COM	372460105	49,437	611,163	SH		SOLE		0	0	611,163
Gilead Sciences Inc.	COM	375558103	1,254	19,938	SH		SOLE		0	0	19,938
Glaxo Smithkline ADS	COM	37733W105	42,919	855,476	SH		SOLE		0	0	855,476
GNC Holdings Inc	COM	36191G107	14,648	268,123	SH		SOLE		0	0	268,123
Google Inc	COM	38259P508	1,162	1,327	SH		SOLE		0	0	1,327
Hanesbrands, Inc.	COM	410345102	486	7,793	SH		SOLE		0	0	7,793
Harris Corporation	COM	413875105	325	5,483	SH		SOLE		0	0	5,483
HCP, Inc.	COM	40414L109	47,578	1,161,860	SH		SOLE		0	0	1,161,860
Health Care REIT Inc	COM	42217K106	52,304	838,481	SH		SOLE		0	0	838,481
Healthcare Services Group	COM	421906108	6,426	249,461	SH		SOLE		0	0	249,461
Hershey Co.	COM	427866108	561	6,070	SH		SOLE		0	0	6,070
Hewlett-Packard Co	COM	428236103	477	22,741	SH		SOLE		0	0	22,741
Highwoods Properties, Inc.	COM	431284108	225	6,367	SH		SOLE		0	0	6,367
Hill-Rom Holdings Inc.	COM	431475102	1,726	48,173	SH		SOLE		0	0	48,173
Hillenbrand Inc.	COM	431571108	1,179	43,073	SH		SOLE		0	0	43,073
Home Depot Inc.	COM	437076102	12,953	170,767	SH		SOLE		0	0	170,767
Honeywell Intl Inc	COM	438516106	319	3,844	SH		SOLE		0	0	3,844
Hubbell Inc cl A	COM	443510102	377	4,000	SH		SOLE		0	0	4,000
Hubbell Inc cl B	COM	443510201	2,937	28,040	SH		SOLE		0	0	28,040
Hudson City Bancorp Inc	COM	443683107	868	96,000	SH		SOLE		0	0	96,000
Huntington Bancshares, Inc.	COM	446150104	527	63,803	SH		SOLE		0	0	63,803
IberiaBank Corporation	COM	450828108	431	8,295	SH		SOLE		0	0	8,295
IBM Corp	COM	459200101	72,328	390,580	SH		SOLE		0	0	390,580
II-VI Inc.	COM	902104108	2,525	134,285	SH		SOLE		0	0	134,285
Illinois Tool Works Inc.	COM	452308109	79,873	1,047,234	SH		SOLE		0	0	1,047,234
Intel Corporation	COM	458140100	128,854	5,621,663	SH		SOLE		0	0	5,621,663
Inter Parfums, Inc.	COM	458334109	522	17,395	SH		SOLE		0	0	17,395
International Flavors&Frag.	COM	459506101	333	4,052	SH		SOLE		0	0	4,052
Intuitive Surgical, Inc.	COM	46120E602	3,311	8,799	SH		SOLE		0	0	8,799
iShares Core S&P Mid-Cap ETF	COM	464287507	494	3,983	SH		SOLE		0	0	3,983
iShares Core S&P Small-Cap ETF	COM	464287804	375	3,757	SH		SOLE		0	0	3,757
iShares DJ US Technology	COM	464287721	3,611	45,825	SH		SOLE		0	0	45,825
iShares Gold Trust	COM	464285105	148	11,500	SH		SOLE		0	0	11,500
iShares High Dividend Eqty	COM	46429B663	2,292	34,584	SH		SOLE		0	0	34,584
iShares Russell 2000 Index	COM	464287655	645	6,051	SH		SOLE		0	0	6,051
iShares Russell Midcap	COM	464287499	497	3,574	SH		SOLE		0	0	3,574
J&J Snack Foods Corp.	COM	466032109	458	5,670	SH		SOLE		0	0	5,670
J2 Global Inc	COM	48123V102	531	10,720	SH		SOLE		0	0	10,720
Jack Henry & Associates	COM	426281101	20,353	393,978	SH		SOLE		0	0	393,978
JM Smucker Co.	COM	832696405	30,068	286,250	SH		SOLE		0	0	286,250
Johnson & Johnson	COM	478160104	172,460	1,989,386	SH		SOLE		0	0	1,989,386
Johnson Controls, Inc.	COM	478366107	2,092	50,401	SH		SOLE		0	0	50,401
JPMorgan Chase & Co	COM	46625H100	1,292	25,001	SH		SOLE		0	0	25,001
Kellogg Company	COM	487836108	388	6,609	SH		SOLE		0	0	6,609
Kimberly-Clark Corp.	COM	494368103	83,106	882,042	SH		SOLE		0	0	882,042
Kinder Morgan Energy L.P.	COM	494550106	3,646	45,672	SH		SOLE		0	0	45,672
Kinder Morgan, Inc. cl P	COM	49456B101	56,357	1,584,406	SH		SOLE		0	0	1,584,406
Kraft Foods Group, Inc.	COM	50076Q106	71,379	1,360,122	SH		SOLE		0	0	1,360,122
Kroger Company	COM	501044101	32,581	807,653	SH		SOLE		0	0	807,653
Kubota Corp ADR	COM	501173207	379	5,200	SH		SOLE		0	0	5,200
Lancaster Colony Corp	COM	513847103	866	11,060	SH		SOLE		0	0	11,060
Leading Brands Inc.	COM	52170U207	141	28,660	SH		SOLE		0	0	28,660
Lifeway Foods Inc.	COM	531914109	209	15,455	SH		SOLE		0	0	15,455
Lockheed Martin Corp.	COM	539830109	55,650	436,301	SH		SOLE		0	0	436,301
Lorillard, Inc.	COM	544147101	414	9,250	SH		SOLE		0	0	9,250
Lowes Companies Inc.	COM	548661107	3,318	69,690	SH		SOLE		0	0	69,690
LyondellBasell Industries cl A	COM	N53745100	626	8,550	SH		SOLE		0	0	8,550
MarketAxess Corporation	COM	57060D108	1,259	21,005	SH		SOLE		0	0	21,005
Mattel Inc.	COM	577081102	68,776	1,642,209	SH		SOLE		0	0	1,642,209
Matthews International Corp	COM	577128101	231	6,060	SH		SOLE		0	0	6,060
Maxim Integrated Products	COM	57772K101	542	18,161	SH		SOLE		0	0	18,161
McCormick & Co, Inc.	COM	579780206	14,272	220,595	SH		SOLE		0	0	220,595
McDonald's Corp.	COM	580135101	153,231	1,592,670	SH		SOLE		0	0	1,592,670
Mead Johnson Nutrition Co	COM	582839106	266	3,585	SH		SOLE		0	0	3,585
Medtronic Inc.	COM	585055106	1,130	21,214	SH		SOLE		0	0	21,214
Merck & Co. Inc.	COM	58933Y105	45,391	953,403	SH		SOLE		0	0	953,403
Meridian Bioscience, Inc.	COM	589584101	2,094	88,617	SH		SOLE		0	0	88,617
Micrel Inc.	COM	594793101	150	16,475	SH		SOLE		0	0	16,475
Microchip Technology Inc	COM	595017104	2,113	52,451	SH		SOLE		0	0	52,451
Micros Systems Inc.	COM	594901100	244	4,885	SH		SOLE		0	0	4,885
Microsoft Corporation	COM	594918104	117,269	3,523,694	SH		SOLE		0	0	3,523,694
Mine Safety Appliances Co.	COM	602720104	401	7,775	SH		SOLE		0	0	7,775
Mondelez International, Inc.	COM	609207105	1,325	42,185	SH		SOLE		0	0	42,185
Monro Muffler Brake Inc.	COM	610236101	417	8,992	SH		SOLE		0	0	8,992
Monsanto Co	COM	61166W101	2,439	23,368	SH		SOLE		0	0	23,368
MWI Veterinary Supply, Inc.	COM	55402X105	410	2,745	SH		SOLE		0	0	2,745
National Instruments	COM	636518102	912	29,483	SH		SOLE		0	0	29,483
National Retail Properties	COM	637417106	636	19,972	SH		SOLE		0	0	19,972
Neogen Corporation	COM	640491106	370	6,095	SH		SOLE		0	0	6,095
Nestle S.A. ADR	COM	641069406	9,060	130,177	SH		SOLE		0	0	130,177
NextEra Energy, Inc.	COM	65339F101	43,338	540,640	SH		SOLE		0	0	540,640
Nike Inc cl B	COM	654106103	28,764	395,982	SH		SOLE		0	0	395,982
Noble Energy Inc.	COM	655044105	2,119	31,625	SH		SOLE		0	0	31,625
Nordstrom, Inc.	COM	655664100	211	3,752	SH		SOLE		0	0	3,752
Norfolk Southern Corp	COM	655844108	2,190	28,314	SH		SOLE		0	0	28,314
Northeast Utilities	COM	664397106	2,144	51,980	SH		SOLE		0	0	51,980
Novartis AG	COM	66987V109	123,983	1,616,253	SH		SOLE		0	0	1,616,253
Novo-Nordisk A/S	COM	670100205	489	2,890	SH		SOLE		0	0	2,890
Nustar Energy LP	COM	67058H102	913	22,765	SH		SOLE		0	0	22,765
Nve Corporation	COM	629445206	971	19,015	SH		SOLE		0	0	19,015
Oceaneering International	COM	675232102	2,426	29,860	SH		SOLE		0	0	29,860
OmniCare Inc	COM	681904108	367	6,618	SH		SOLE		0	0	6,618
ONEOK Inc.	COM	682680103	120,899	2,267,422	SH		SOLE		0	0	2,267,422
Oneok Partners, L.P.	COM	68268N103	4,288	80,894	SH		SOLE		0	0	80,894
OpenTable, Inc.	COM	68372A104	246	3,510	SH		SOLE		0	0	3,510
Oracle Corporation	COM	68389X105	3,053	92,038	SH		SOLE		0	0	92,038
Owens & Minor Inc.	COM	690732102	365	10,549	SH		SOLE		0	0	10,549
PacWest Bancorp	COM	695263103	337	9,835	SH		SOLE		0	0	9,835
Par Petroleum Corp	COM	69888T108	1,032	570,000	SH		SOLE		0	0	570,000
Paramount Resources Ltd Cl A	COM	699320206	651	18,600	SH		SOLE		0	0	18,600
Patterson Companies Inc	COM	703395103	3,109	77,372	SH		SOLE		0	0	77,372
Paychex, Inc.	COM	704326107	32,175	791,709	SH		SOLE		0	0	791,709
Pegasystems Inc	COM	705573103	281	7,050	SH		SOLE		0	0	7,050
PepsiCo, Inc.	COM	713448108	25,954	326,463	SH		SOLE		0	0	326,463
Perrigo Company	COM	714290103	1,555	12,600	SH		SOLE		0	0	12,600
PetroChina Company Limited ADS	COM	71646E100	251	2,280	SH		SOLE		0	0	2,280
PetSmart Inc.	COM	716768106	957	12,550	SH		SOLE		0	0	12,550
Pfizer Inc.	COM	717081103	2,531	88,110	SH		SOLE		0	0	88,110
Philip Morris Intl	COM	718172109	90,606	1,046,381	SH		SOLE		0	0	1,046,381
Phillips 66	COM	718546104	2,753	47,620	SH		SOLE		0	0	47,620
Piedmont Natural Gas Co.	COM	720186105	2,339	71,140	SH		SOLE		0	0	71,140
Plantronics Inc.	COM	727493108	346	7,520	SH		SOLE		0	0	7,520
PNC Financial Services	COM	693475105	984	13,579	SH		SOLE		0	0	13,579
Polaris Industries Inc	COM	731068102	467	3,617	SH		SOLE		0	0	3,617
Power Integrations, Inc.	COM	739276103	347	6,415	SH		SOLE		0	0	6,415
PowerShares Water Resource	COM	73935X575	225	9,400	SH		SOLE		0	0	9,400
Praxair, Inc.	COM	74005P104	71,827	597,514	SH		SOLE		0	0	597,514
PriceSmart Inc.	COM	741511109	2,433	25,545	SH		SOLE		0	0	25,545
Procter & Gamble Co.	COM	742718109	320,037	4,233,855	SH		SOLE		0	0	4,233,855
Pshrs Dividend Achvievers	COM	73935X732	757	40,840	SH		SOLE		0	0	40,840
Qualcomm Inc.	COM	747525103	104,465	1,551,773	SH		SOLE		0	0	1,551,773
Quality Systems Inc.	COM	747582104	245	11,288	SH		SOLE		0	0	11,288
Questcor Pharmaceuticals	COM	74835Y101	499	8,610	SH		SOLE		0	0	8,610
Range Resources Corp	COM	75281A109	4,682	61,700	SH		SOLE		0	0	61,700
Raven Industries Inc.	COM	754212108	342	10,465	SH		SOLE		0	0	10,465
Rayonier Inc.	COM	754907103	818	14,694	SH		SOLE		0	0	14,694
Raytheon Company	COM	755111507	355	4,600	SH		SOLE		0	0	4,600
Realty Income Corp	COM	756109104	22,460	565,044	SH		SOLE		0	0	565,044
Resmed Inc	COM	761152107	737	13,955	SH		SOLE		0	0	13,955
Rio Tinto PLC	COM	767204100	219	4,500	SH		SOLE		0	0	4,500
Ritchie Bros. Auctioneers	COM	767744105	320	15,840	SH		SOLE		0	0	15,840
Rollins Inc.	COM	775711104	450	16,968	SH		SOLE		0	0	16,968
Roper Industries Inc.	COM	776696106	20,229	152,249	SH		SOLE		0	0	152,249
Ross Stores Inc.	COM	778296103	495	6,795	SH		SOLE		0	0	6,795
Royal Dutch Shell CL A	COM	780259206	6,480	98,653	SH		SOLE		0	0	98,653
RPM International, Inc.	COM	749685103	21,451	592,567	SH		SOLE		0	0	592,567
Sanofi ADS	COM	80105N105	788	15,568	SH		SOLE		0	0	15,568
SAP AG	COM	803054204	2,813	38,054	SH		SOLE		0	0	38,054
Schlumberger Ltd.	COM	806857108	32,864	371,938	SH		SOLE		0	0	371,938
Scripps Networks Interact.	COM	811065101	5,194	66,496	SH		SOLE		0	0	66,496
Siemens AG ADS	COM	826197501	289	2,395	SH		SOLE		0	0	2,395
Sigma-Aldrich Corporation	COM	826552101	5,570	65,303	SH		SOLE		0	0	65,303
Smith and Nephew plc	COM	83175M205	208	3,337	SH		SOLE		0	0	3,337
Sofame Technologies Inc	COM	833977101	0	10,000	SH		SOLE		0	0	10,000
Solera Holdings Inc	COM	83421A104	805	15,235	SH		SOLE		0	0	15,235
Southern Company	COM	842587107	47,038	1,142,254	SH		SOLE		0	0	1,142,254
SPDR Gold Trust	COM	78463V107	882	6,881	SH		SOLE		0	0	6,881
SPDR S&P 500 ETF Trust	COM	78462F103	1,311	7,805	SH		SOLE		0	0	7,805
SPDR S&P MidCap 400 ETF	COM	78467Y107	700	3,093	SH		SOLE		0	0	3,093
SPDR Select Technology	COM	81369Y803	2,628	82,030	SH		SOLE		0	0	82,030
Spectra Energy Corp	COM	847560109	44,721	1,306,477	SH		SOLE		0	0	1,306,477
Stans Energy Corp.	COM	854722105	3	25,000	SH		SOLE		0	0	25,000
Stepan Company	COM	858586100	715	12,390	SH		SOLE		0	0	12,390
Stericycle Inc.	COM	858912108	242	2,100	SH		SOLE		0	0	2,100
Steris Corporation	COM	859152100	2,411	56,114	SH		SOLE		0	0	56,114
Stratasys Ltd.	COM	M85548101	621	6,135	SH		SOLE		0	0	6,135
Stryker Corp	COM	863667101	43,027	636,583	SH		SOLE		0	0	636,583
Suncor Energy	COM	867224107	1,547	43,227	SH		SOLE		0	0	43,227
Syngenta AG	COM	87160A100	385	4,737	SH		SOLE		0	0	4,737
Syntel Inc.	COM	87162H103	521	6,505	SH		SOLE		0	0	6,505
Sysco Corporation	COM	871829107	3,241	101,811	SH		SOLE		0	0	101,811
T Rowe Price Group Inc	COM	74144T108	16,549	230,078	SH		SOLE		0	0	230,078
Taiwan Semiconductor	COM	874039100	305	17,956	SH		SOLE		0	0	17,956
Targa Resources Corp	COM	87612G101	3,729	51,115	SH		SOLE		0	0	51,115
Targa Resources Partners LP	COM	87611X105	293	5,685	SH		SOLE		0	0	5,685
Target Corporation	COM	87612E106	18,004	281,396	SH		SOLE		0	0	281,396
Taseko Mines Ltd.	COM	876511106	53	25,775	SH		SOLE		0	0	25,775
Teleflex Inc.	COM	879369106	5,277	64,137	SH		SOLE		0	0	64,137
Telefonica S.A.	COM	879382208	199	12,868	SH		SOLE		0	0	12,868
Teva Pharmaceutical	COM	881624209	7,184	190,152	SH		SOLE		0	0	190,152
Texas Instruments, Inc.	COM	882508104	347	8,617	SH		SOLE		0	0	8,617
Texas Roadhouse Inc.	COM	882681109	553	21,040	SH		SOLE		0	0	21,040
Textron Inc.	COM	883203101	276	10,000	SH		SOLE		0	0	10,000
Thor Industries Inc	COM	885160101	420	7,230	SH		SOLE		0	0	7,230
Tim Hortons, Inc.	COM	88706M103	404	6,970	SH		SOLE		0	0	6,970
TJX Companies Inc.	COM	872540109	25,424	450,857	SH		SOLE		0	0	450,857
Toyota Motor Corporation	COM	892331307	338	2,640	SH		SOLE		0	0	2,640
Tractor Supply Co.	COM	892356106	1,483	22,080	SH		SOLE		0	0	22,080
Trilogy Energy Corp.	COM	89620H105	394	13,800	SH		SOLE		0	0	13,800
Trinity Biotech plc ADS	COM	896438306	467	21,465	SH		SOLE		0	0	21,465
Tupperware Brands Corp.	COM	899896104	45,535	527,207	SH		SOLE		0	0	527,207
U.S. Bancorp	COM	902973304	147,851	4,041,847	SH		SOLE		0	0	4,041,847
Unilever N.V.	COM	904784709	211	5,600	SH		SOLE		0	0	5,600
Union Pacific Corp.	COM	907818108	30,553	196,684	SH		SOLE		0	0	196,684
United Natural Foods Inc.	COM	911163103	529	7,860	SH		SOLE		0	0	7,860
United Technologies Corp	COM	913017109	62,982	584,139	SH		SOLE		0	0	584,139
V.F. Corporation	COM	918204108	24,326	122,212	SH		SOLE		0	0	122,212
Validian Corp	COM	91915P107	33	384,000	SH		SOLE		0	0	384,000
Valmont Industries Inc	COM	920253101	510	3,675	SH		SOLE		0	0	3,675
Valspar Corporation	COM	920355104	1,528	24,086	SH		SOLE		0	0	24,086
Vanguard Info Tech ETF	COM	92204A702	7,777	96,371	SH		SOLE		0	0	96,371
Vanguard Total Stock Mkt	COM	922908769	209	2,384	SH		SOLE		0	0	2,384
Ventas Inc.	COM	92276F100	17,563	285,577	SH		SOLE		0	0	285,577
Verizon Communications, Inc.	COM	92343V104	8,431	180,624	SH		SOLE		0	0	180,624
Vermillion Energy, Inc.	COM	923725105	1,258	22,775	SH		SOLE		0	0	22,775
VISA Inc.	COM	92826C839	2,229	11,665	SH		SOLE		0	0	11,665
Vodafone Group PLC ADS	COM	92857W209	4,203	119,458	SH		SOLE		0	0	119,458
W.P. Carey, Inc.	COM	92936U109	309	4,775	SH		SOLE		0	0	4,775
W.W. Grainger Inc.	COM	384802104	3,503	13,385	SH		SOLE		0	0	13,385
Wal-Mart Stores, Inc.	COM	931142103	3,994	54,005	SH		SOLE		0	0	54,005
Walgreen Company	COM	931422109	10,837	201,428	SH		SOLE		0	0	201,428
Walt Disney Company	COM	254687106	51,142	793,023	SH		SOLE		0	0	793,023
Waste Management Inc.	COM	94106L109	988	23,969	SH		SOLE		0	0	23,969
Watsco Inc.	COM	942622200	426	4,515	SH		SOLE		0	0	4,515
Wells Fargo & Co	COM	949746101	16,870	408,278	SH		SOLE		0	0	408,278
West Pharmaceutical Svcs	COM	955306105	552	13,420	SH		SOLE		0	0	13,420
Williams Companies Inc	COM	969457100	112,892	3,104,830	SH		SOLE		0	0	3,104,830
Wisconsin Energy Corp	COM	976657106	1,456	36,060	SH		SOLE		0	0	36,060
Wolverine World Wide Inc.	COM	978097103	2,221	38,146	SH		SOLE		0	0	38,146
Xilinx Inc.	COM	983919101	9,027	192,665	SH		SOLE		0	0	192,665
Yum! Brands, Inc.	COM	988498101	1,779	24,921	SH		SOLE		0	0	24,921
Zimmer Holdings Inc	COM	98956P102	1,820	22,160	SH		SOLE		0	0	22,160
Zoetis Inc	COM	98978V103	742	23,840	SH		SOLE		0	0	23,840
Bird Construction	COM	09076P104	239	19,450	SH		SOLE		0	0	19,450
Dodge Cox International Stock	COM	256206103	1,529	37,684	SH		SOLE		0	0	37,684
Harbor International Fund Inst	COM	411511306	430	6,214	SH		SOLE		0	0	6,214
iShares Core MSCI Emerging	COM	46434G103	840	17,276	SH		SOLE		0	0	17,276
iShares MSCI Asia Ex-Japan	COM	464288182	915	15,694	SH		SOLE		0	0	15,694
iShr MSCI Canada	COM	464286509	206	7,275	SH		SOLE		0	0	7,275
iShr MSCI EAFE	COM	464287465	2,041	31,993	SH		SOLE		0	0	31,993
iShr MSCI Emerg Mkts	COM	464287234	2,157	52,935	SH		SOLE		0	0	52,935
iShr MSCI Hong Kong	COM	464286871	495	24,700	SH		SOLE		0	0	24,700
iShr MSCI Pacific Ex Jap	COM	464286665	3,201	67,168	SH		SOLE		0	0	67,168
iShr MSCI Singapore	COM	464286673	695	52,035	SH		SOLE		0	0	52,035
Pshrs Intl Div Achievers	COM	73935X716	324	18,770	SH		SOLE		0	0	18,770
Vanguard FTSE All-World ex-US	COM	922042775	1,031	21,205	SH		SOLE		0	0	21,205
Vanguard FTSE Developed Market	COM	921943858	269	6,795	SH		SOLE		0	0	6,795
Vanguard FTSE Emer Mkts ETF	COM	922042858	4,673	116,425	SH		SOLE		0	0	116,425
Wisdom Tree Emerging Markets	COM	97717W315	900	17,412	SH		SOLE		0	0	17,412
WisdomTree Em Mkt SCap Dv	COM	97717W281	351	7,529	SH		SOLE		0	0	7,529
WisdomTree Japan Hedged Equity	COM	97717W851	993	20,720	SH		SOLE		0	0	20,720