American National 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
ABB Ltd-Spon ADR	COM	000375204	886	34,350	SH		SOLE		34,350	0	0
Abbott Labs.	COM	002824100	5,399	140,200	SH		SOLE		140,200	0	0
Abbvie Inc	COM	00287y109	8,481	165,000	SH		SOLE		165,000	0	0
Activision Blizzard Inc	COM	00507v109	6,872	336,225	SH		SOLE		336,225	0	0
Adobe Systems	COM	00724f101	7,361	111,969	SH		SOLE		111,969	0	0
Aecom Technology Corp	COM	00766T100	3,047	94,725	SH		SOLE		94,725	0	0
Aegon NV ADR	COM	007924103	103	11,200	SH		SOLE		11,200	0	0
Air Products & Chemicals, Inc.	COM	009158106	3,137	26,350	SH		SOLE		26,350	0	0
Akamai Technologies Inc.	COM	00971t101	6,109	104,950	SH		SOLE		104,950	0	0
Alcatel-Lucent ADR	COM	013904305	78	19,900	SH		SOLE		19,900	0	0
Allegheny Technologies Inc.	COM	01741r102	3,401	90,250	SH		SOLE		90,250	0	0
Allergan, Inc.	COM	018490102	6,127	49,370	SH		SOLE		49,370	0	0
AllianceBernstein Holding LP	COM	01881G106	292	11,700	SH		SOLE		11,700	0	0
Altria Group, Inc.	COM	02209s103	12,527	334,675	SH		SOLE		334,675	0	0
Ambev SA ADR	COM	02319v103	861	116,250	SH		SOLE		116,250	0	0
Amdocs Ltd	COM	G02602103	3,783	81,425	SH		SOLE		81,425	0	0
America Movil SA de CV ADR	COM	02364w105	592	29,800	SH		SOLE		29,800	0	0
American Express	COM	025816109	12,093	134,325	SH		SOLE		134,325	0	0
American States Water Co	COM	029899101	1,066	33,000	SH		SOLE		33,000	0	0
Anadarko Petroleum Corp.	COM	032511107	7,974	94,075	SH		SOLE		94,075	0	0
Anheuser-Busch	COM	03524a108	8,571	81,400	SH		SOLE		81,400	0	0
Apache Corp	COM	037411105	4,925	59,375	SH		SOLE		59,375	0	0
Apple Inc	COM	037833100	33,828	63,025	SH		SOLE		63,025	0	0
Applied Materials Inc.	COM	038222105	383	18,775	SH		SOLE		18,775	0	0
Ares Capital Corp	COM	04010L103	1,080	61,275	SH		SOLE		61,275	0	0
Arlington Asset Investment Cor	COM	041356205	350	13,228	SH		SOLE		13,228	0	0
Arthur J. Gallagher & Co.	COM	363576109	6,442	135,400	SH		SOLE		135,400	0	0
AstraZeneca Group PLC ADR	COM	046353108	855	13,175	SH		SOLE		13,175	0	0
AT&T Inc.	COM	00206R102	15,134	431,528	SH		SOLE		431,528	0	0
Atmos Energy Corp.	COM	049560105	2,349	49,850	SH		SOLE		49,850	0	0
AXA SA ADR	COM	054536107	684	26,300	SH		SOLE		26,300	0	0
Baker Hughes	COM	057224107	6,408	98,550	SH		SOLE		98,550	0	0
Banco Bilbao Vizcaya Argentari	COM	05946K101	1,283	106,836	SH		SOLE		106,836	0	0
Banco Santander Central Hispan	COM	05964h105	616	64,300	SH		SOLE		64,300	0	0
Bank of New York Mellon Corp.	COM	064058100	8,865	251,207	SH		SOLE		251,207	0	0
Barclays PLC ADR	COM	06738e204	597	38,000	SH		SOLE		38,000	0	0
BASF SE ADR	COM	055262505	1,607	14,450	SH		SOLE		14,450	0	0
Baxter International, Inc.	COM	071813109	3,142	42,700	SH		SOLE		42,700	0	0
BB&T Corporation	COM	054937107	3,836	95,500	SH		SOLE		95,500	0	0
Bed Bath & Beyond Inc.	COM	075896100	6,581	95,650	SH		SOLE		95,650	0	0
BG Group Plc ADR	COM	055434203	1,490	80,000	SH		SOLE		80,000	0	0
BHP Billiton Ltd. ADR	COM	088606108	1,523	22,475	SH		SOLE		22,475	0	0
Blackstone Group LP	COM	09253u108	6,066	182,450	SH		SOLE		182,450	0	0
Block H&R	COM	093671105	7,657	253,625	SH		SOLE		253,625	0	0
Boardwalk Pipeline Partners L.	COM	096627104	1,023	76,300	SH		SOLE		76,300	0	0
Boeing Company	COM	097023105	16,540	131,800	SH		SOLE		131,800	0	0
Boston Properties Inc	COM	101121101	1,386	12,100	SH		SOLE		12,100	0	0
Boston Scientific	COM	101137107	178	13,200	SH		SOLE		13,200	0	0
BP plc ADR	COM	055622104	4,000	83,150	SH		SOLE		83,150	0	0
BRE Properties	COM	05564E106	4,245	67,615	SH		SOLE		67,615	0	0
British American Tob SP ADR	COM	110448107	1,362	12,225	SH		SOLE		12,225	0	0
Broadcom Corp	COM	111320107	3,531	112,200	SH		SOLE		112,200	0	0
BT Group PLC ADR	COM	05577e101	1,181	18,500	SH		SOLE		18,500	0	0
California Water Service Group	COM	130788102	651	27,200	SH		SOLE		27,200	0	0
Calpine Corp	COM	131347304	3,322	158,875	SH		SOLE		158,875	0	0
Cameron International Corp	COM	13342B105	4,806	77,800	SH		SOLE		77,800	0	0
Canon Inc. ADR	COM	138006309	766	24,675	SH		SOLE		24,675	0	0
Capital One Financial	COM	14040H105	6,456	83,675	SH		SOLE		83,675	0	0
Carefusion Corp.	COM	14170T101	3,687	91,675	SH		SOLE		91,675	0	0
Carrizo Oil & Gas Inc	COM	144577103	4,157	77,750	SH		SOLE		77,750	0	0
Caterpillar Inc.	COM	149123101	4,665	46,950	SH		SOLE		46,950	0	0
CBS Corp.	COM	124857202	7,002	113,300	SH		SOLE		113,300	0	0
Celanese Corp	COM	150870103	2,132	38,400	SH		SOLE		38,400	0	0
Celgene Corp.	COM	151020104	15,406	110,355	SH		SOLE		110,355	0	0
Cemex SAB de CV ADR	COM	151290889	210	16,596	SH		SOLE		16,596	0	0
CenturyLink Inc.	COM	156700106	1,354	41,223	SH		SOLE		41,223	0	0
Charles Schwab Corp.	COM	808513105	7,789	285,000	SH		SOLE		285,000	0	0
Chesapeake Energy Corp	COM	165167107	3,206	125,150	SH		SOLE		125,150	0	0
Cheung Kong Limited ADR	COM	166744201	680	41,000	SH		SOLE		41,000	0	0
Chevron Corp.	COM	166764100	20,222	170,060	SH		SOLE		170,060	0	0
Church & Dwight Co.	COM	171340102	6,672	96,600	SH		SOLE		96,600	0	0
Cincinnati Financial	COM	172062101	706	14,500	SH		SOLE		14,500	0	0
Cinemark Holdings Inc.	COM	17243v102	2,393	82,500	SH		SOLE		82,500	0	0
Cisco Systems	COM	17275R102	12,344	550,700	SH		SOLE		550,700	0	0
CIT Group	COM	125581801	1,755	35,800	SH		SOLE		35,800	0	0
Citrix Systems Inc	COM	177376100	4,140	72,075	SH		SOLE		72,075	0	0
Cliffs Natural Resources Inc	COM	18683k101	1,664	81,325	SH		SOLE		81,325	0	0
CMS Energy Corp.	COM	125896100	4,204	143,575	SH		SOLE		143,575	0	0
Coca-Cola	COM	191216100	939	24,300	SH		SOLE		24,300	0	0
Cognizant Tech Solutions Corp.	COM	192446102	3,954	78,150	SH		SOLE		78,150	0	0
Columbia Sportswear Co	COM	198516106	3,327	40,250	SH		SOLE		40,250	0	0
Comerica, Inc.	COM	200340107	1,088	21,000	SH		SOLE		21,000	0	0
Companhia Vale do Rio Doce ADR	COM	91912e105	196	14,150	SH		SOLE		14,150	0	0
Consolidated Edison	COM	209115104	1,219	22,713	SH		SOLE		22,713	0	0
Constellation Brands	COM	21036p108	5,988	70,475	SH		SOLE		70,475	0	0
Continental Resources Inc	COM	212015101	5,508	44,325	SH		SOLE		44,325	0	0
Cooper Tire & Rubber Co.	COM	216831107	608	25,000	SH		SOLE		25,000	0	0
Corning Inc.	COM	219350105	5,644	271,075	SH		SOLE		271,075	0	0
Costco Co.	COM	22160k105	4,744	42,475	SH		SOLE		42,475	0	0
Covidien PLC	COM	G2554f113	5,924	80,425	SH		SOLE		80,425	0	0
CTRIP.COM International ADR	COM	22943F100	282	5,600	SH		SOLE		5,600	0	0
Cummins Inc	COM	231021106	5,777	38,775	SH		SOLE		38,775	0	0
CVS Caremark Corp.	COM	126650100	11,798	157,604	SH		SOLE		157,604	0	0
Daimler AG ADR	COM	D1668R123	1,535	16,200	SH		SOLE		16,200	0	0
Danaher Corp.	COM	235851102	12,289	163,850	SH		SOLE		163,850	0	0
Danone ADR	COM	23636t100	524	37,000	SH		SOLE		37,000	0	0
Darden Restaurants Inc.	COM	237194105	7,114	140,150	SH		SOLE		140,150	0	0
Davita Healthcare Partners Inc	COM	23918K108	6,537	94,950	SH		SOLE		94,950	0	0
DCP Midstream Partners LP	COM	23311p100	1,844	36,800	SH		SOLE		36,800	0	0
DDR Corp	COM	23317h102	284	17,221	SH		SOLE		17,221	0	0
Deutsche Bank ADR	COM	D18190898	435	9,700	SH		SOLE		9,700	0	0
Deutsche Telekom AG ADR	COM	251566105	1,090	67,400	SH		SOLE		67,400	0	0
Diageo PLC ADR	COM	25243q205	1,411	11,325	SH		SOLE		11,325	0	0
Diamond Offshore Drilling	COM	25271c102	1,249	25,625	SH		SOLE		25,625	0	0
Diebold Inc	COM	253651103	1,528	38,300	SH		SOLE		38,300	0	0
Digital Realty	COM	253868103	1,285	24,200	SH		SOLE		24,200	0	0
DirectTV	COM	25490a309	7,021	91,875	SH		SOLE		91,875	0	0
Dollar General	COM	256677105	4,046	72,925	SH		SOLE		72,925	0	0
Dominion Resources	COM	25746u109	3,959	55,775	SH		SOLE		55,775	0	0
Donnelley (R.R.) & Sons	COM	257867101	482	26,900	SH		SOLE		26,900	0	0
Dr. Pepper Snapple Group, Inc	COM	26138e109	301	5,520	SH		SOLE		5,520	0	0
Du Pont (E.I.) De Nemours & Co	COM	263534109	13,024	194,096	SH		SOLE		194,096	0	0
Duke Energy Corp.	COM	26441C204	6,776	95,146	SH		SOLE		95,146	0	0
Duke Realty Corp.	COM	264411505	1,330	78,800	SH		SOLE		78,800	0	0
eBay Inc.	COM	278642103	5,904	106,875	SH		SOLE		106,875	0	0
Embraer SA	COM	29082a107	227	6,400	SH		SOLE		6,400	0	0
EMC Corp.	COM	268648102	3,070	112,018	SH		SOLE		112,018	0	0
Enbridge Energy Partners LP	COM	29250r106	2,738	99,900	SH		SOLE		99,900	0	0
Endo International PLC	COM	G30401106	7,864	114,550	SH		SOLE		114,550	0	0
Energizer Holdings Inc	COM	29266R108	6,571	65,225	SH		SOLE		65,225	0	0
ENI SPA ADR	COM	26874r108	1,205	24,025	SH		SOLE		24,025	0	0
Enterprise Products Partners L	COM	293792107	2,892	41,700	SH		SOLE		41,700	0	0
EOG Resources	COM	26875p101	8,587	43,775	SH		SOLE		43,775	0	0
Equity Residential Properties	COM	29476l107	2,975	51,300	SH		SOLE		51,300	0	0
Ericsson ADR	COM	294821608	1,376	103,200	SH		SOLE		103,200	0	0
Ethan Allen Interiors Inc.	COM	297602104	252	9,900	SH		SOLE		9,900	0	0
Express	COM	30219e103	2,022	127,325	SH		SOLE		127,325	0	0
Express Scripts Holding Compan	COM	30219g108	5,951	79,250	SH		SOLE		79,250	0	0
Exxon Mobil Corp.	COM	30231g102	34,859	356,874	SH		SOLE		356,874	0	0
F5 Networks Inc.	COM	315616102	3,679	34,500	SH		SOLE		34,500	0	0
Fedex Corp.	COM	31428x106	4,278	32,275	SH		SOLE		32,275	0	0
Fifth Street Finance Corp	COM	31678a103	977	103,250	SH		SOLE		103,250	0	0
Fifth Third Bancorp	COM	316773100	4,141	180,400	SH		SOLE		180,400	0	0
Finisar Corp	COM	31787a507	3,839	144,800	SH		SOLE		144,800	0	0
Flowserve Corp.	COM	34354P105	9,671	123,450	SH		SOLE		123,450	0	0
FMC Technologies Inc	COM	30249U101	4,119	78,775	SH		SOLE		78,775	0	0
Fomento Economico Mexicana-SP	COM	344419106	667	7,150	SH		SOLE		7,150	0	0
Freeport-McMoRan Copper & Gold	COM	35671d857	5,196	157,125	SH		SOLE		157,125	0	0
Frontier Communications Corp	COM	35906a108	795	139,428	SH		SOLE		139,428	0	0
General Electric Co.	COM	369604103	26,004	1,004,400	SH		SOLE		1,004,400	0	0
General Growth Properties	COM	370023103	403	18,331	SH		SOLE		18,331	0	0
Genuine Parts Co.	COM	372460105	2,736	31,500	SH		SOLE		31,500	0	0
Gilead Science Inc	COM	375558103	18,815	265,525	SH		SOLE		265,525	0	0
GlaxoSmithKline plc ADR	COM	37733W105	1,950	36,500	SH		SOLE		36,500	0	0
Goldman Sachs Group	COM	38141g104	9,675	59,050	SH		SOLE		59,050	0	0
Goodyear Tire & Rubber Company	COM	382550101	5,923	226,675	SH		SOLE		226,675	0	0
Google Inc. Cl A	COM	38259P508	28,392	25,475	SH		SOLE		25,475	0	0
Grifols SA ADR	COM	398438408	447	10,825	SH		SOLE		10,825	0	0
Grupo Televisa SA ADR	COM	40049j206	364	10,925	SH		SOLE		10,925	0	0
Halliburton Co.	COM	406216101	8,973	152,375	SH		SOLE		152,375	0	0
Harman International Industrie	COM	413086109	1,192	11,200	SH		SOLE		11,200	0	0
HCP Inc	COM	40414L109	2,453	63,250	SH		SOLE		63,250	0	0
Health Care REIT, Inc.	COM	42217k106	1,749	29,350	SH		SOLE		29,350	0	0
Hellenic Telecom Organization	COM	423325307	364	44,000	SH		SOLE		44,000	0	0
Hess Corporation	COM	42809h107	4,552	54,925	SH		SOLE		54,925	0	0
Hitachi Ltd. ADR	COM	433578507	703	9,500	SH		SOLE		9,500	0	0
Hologic Inc	COM	436440101	3,862	179,650	SH		SOLE		179,650	0	0
Home Depot, Inc.	COM	437076102	15,027	189,900	SH		SOLE		189,900	0	0
Home Properties Inc	COM	437306103	1,081	17,975	SH		SOLE		17,975	0	0
Honda Motor Co Ltd. ADR	COM	438128308	1,841	52,100	SH		SOLE		52,100	0	0
Honeywell International, Inc.	COM	438516106	10,895	117,450	SH		SOLE		117,450	0	0
HSBC Holdings ADR	COM	404280406	727	14,300	SH		SOLE		14,300	0	0
Hunt (J.B.) Transport	COM	445658107	1,100	15,300	SH		SOLE		15,300	0	0
Hutchison Whampoa Limited ADR	COM	448415208	1,039	39,250	SH		SOLE		39,250	0	0
Icon PLC ADR	COM	G4705A100	352	7,400	SH		SOLE		7,400	0	0
Infineon Technologies ADR	COM	45662n103	440	36,825	SH		SOLE		36,825	0	0
Infosys Ltd ADR	COM	456788108	2,108	38,900	SH		SOLE		38,900	0	0
Ing Groep NV ADR	COM	456837103	202	14,200	SH		SOLE		14,200	0	0
Ingenico ADR	COM	45684w107	346	18,475	SH		SOLE		18,475	0	0
Intel Corp.	COM	458140100	14,673	568,400	SH		SOLE		568,400	0	0
International Business Machine	COM	459200101	11,434	59,400	SH		SOLE		59,400	0	0
International Game Technology	COM	459902102	287	20,400	SH		SOLE		20,400	0	0
Intesa Sanpaolo ADR	COM	46115h107	245	12,041	SH		SOLE		12,041	0	0
Invesco Ltd	COM	g491bt108	7,139	192,950	SH		SOLE		192,950	0	0
Itau Unibanco Holding SA ADR	COM	465562106	407	27,387	SH		SOLE		27,387	0	0
Itron, Inc.	COM	465741106	1,548	43,550	SH		SOLE		43,550	0	0
Johnson & Johnson	COM	478160104	22,291	226,925	SH		SOLE		226,925	0	0
Johnson Controls, Inc.	COM	478366107	6,909	146,000	SH		SOLE		146,000	0	0
Jones Group Inc The	COM	48020t101	289	19,300	SH		SOLE		19,300	0	0
Joy Global Inc.	COM	481165108	2,233	38,500	SH		SOLE		38,500	0	0
JPMorgan Chase & Co.	COM	46625h100	21,000	345,907	SH		SOLE		345,907	0	0
Kamada Ltd ADR	COM	m6240t109	257	17,750	SH		SOLE		17,750	0	0
KB Financial Group Inc ADR	COM	48241a105	259	7,375	SH		SOLE		7,375	0	0
Kellogg Co.	COM	487836108	2,308	36,800	SH		SOLE		36,800	0	0
Kennametal Inc.	COM	489170100	793	17,900	SH		SOLE		17,900	0	0
Kimco Realty Corp.	COM	49446r109	1,864	85,175	SH		SOLE		85,175	0	0
Kinder Morgan Inc.	COM	49456b101	4,547	139,937	SH		SOLE		139,937	0	0
Kirin Holdings Co ADR	COM	497350306	421	30,300	SH		SOLE		30,300	0	0
Koninklijke KPN NV ADR	COM	780641205	59	16,600	SH		SOLE		16,600	0	0
Koninklijke Philips NV ADR	COM	500472303	331	9,400	SH		SOLE		9,400	0	0
Kraft Foods Group Inc.	COM	50076q106	629	11,211	SH		SOLE		11,211	0	0
Kubota Corp-Spon ADR	COM	501173207	324	4,875	SH		SOLE		4,875	0	0
L Brands Inc	COM	501797104	6,358	112,000	SH		SOLE		112,000	0	0
Leggett & Platt	COM	524660107	1,110	34,000	SH		SOLE		34,000	0	0
Lexington Realty Trust	COM	529043101	674	61,755	SH		SOLE		61,755	0	0
Liberty Property Trust	COM	531172104	2,258	61,100	SH		SOLE		61,100	0	0
Lilly (Eli) & Co.	COM	532457108	10,524	178,800	SH		SOLE		178,800	0	0
Linear Technology Corp.	COM	535678106	2,057	42,250	SH		SOLE		42,250	0	0
Logitech International SA ADR	COM	H50430232	626	42,020	SH		SOLE		42,020	0	0
Lorillard Inc.	COM	544147101	3,174	58,700	SH		SOLE		58,700	0	0
Lowe's Co.	COM	548661107	11,790	241,100	SH		SOLE		241,100	0	0
Luxottica Group SPA ADR	COM	55068r202	415	7,200	SH		SOLE		7,200	0	0
Macerich Co.	COM	554382101	1,354	21,719	SH		SOLE		21,719	0	0
Mack-Cali Realty Corp.	COM	554489104	624	30,000	SH		SOLE		30,000	0	0
Mallinckrodt PLC	COM	g5785g107	637	10,050	SH		SOLE		10,050	0	0
Marsh & McLennan Companies, In	COM	571748102	12,414	251,800	SH		SOLE		251,800	0	0
Mattel Inc.	COM	577081102	7,348	183,200	SH		SOLE		183,200	0	0
Maxim Integrated Products, Inc	COM	57772k101	5,156	155,675	SH		SOLE		155,675	0	0
McCormick & Co.	COM	579780206	6,319	88,075	SH		SOLE		88,075	0	0
McDonald's Corp.	COM	580135101	8,673	88,475	SH		SOLE		88,475	0	0
Mercadolibre Inc ADR	COM	58733r102	549	5,775	SH		SOLE		5,775	0	0
Merck & Co., Inc.	COM	58933y105	14,692	258,800	SH		SOLE		258,800	0	0
Metlife Inc	COM	59156R108	8,146	154,275	SH		SOLE		154,275	0	0
Michael Kors Holdings	COM	G60754101	3,043	32,625	SH		SOLE		32,625	0	0
Microsoft Corp	COM	594918104	28,039	684,048	SH		SOLE		684,048	0	0
Mitsubishi UFJ Financial Group	COM	606822104	1,515	273,550	SH		SOLE		273,550	0	0
Mitsui & Co Ltd-Spons ADR	COM	606827202	404	1,425	SH		SOLE		1,425	0	0
Molson Coors Brewing Company	COM	60871r209	5,586	94,900	SH		SOLE		94,900	0	0
Mondelez International Inc	COM	609207105	1,162	33,636	SH		SOLE		33,636	0	0
Monsanto Co.	COM	61166w101	5,330	46,850	SH		SOLE		46,850	0	0
Morgan Stanley, Dean Witter, D	COM	617446448	6,698	214,900	SH		SOLE		214,900	0	0
Mylan Inc.	COM	628530107	10,337	211,700	SH		SOLE		211,700	0	0
National Fuel Gas Co.	COM	636180101	630	9,000	SH		SOLE		9,000	0	0
National Oilwell Varco Inc	COM	637071101	5,706	73,275	SH		SOLE		73,275	0	0
New York Community Bancorp	COM	649445103	2,152	133,925	SH		SOLE		133,925	0	0
NextEra Energy Inc	COM	65339f101	3,998	41,816	SH		SOLE		41,816	0	0
NICE Systems Ltd ADR	COM	653656108	310	6,950	SH		SOLE		6,950	0	0
Nippon Telegraph & Telephone C	COM	654624105	1,712	62,850	SH		SOLE		62,850	0	0
Nisource Inc.	COM	65473P105	6,191	174,250	SH		SOLE		174,250	0	0
Norsk Hydro ASA ADR	COM	656531605	100	20,000	SH		SOLE		20,000	0	0
Northrop Grumman Corp.	COM	666807102	6,178	50,075	SH		SOLE		50,075	0	0
Novartis ADR	COM	66987v109	2,857	33,600	SH		SOLE		33,600	0	0
Novo Nordisk ADR	COM	670100205	2,830	62,000	SH		SOLE		62,000	0	0
Occidental Petroleum	COM	674599105	7,476	78,450	SH		SOLE		78,450	0	0
Oracle Corp.	COM	68389x105	13,163	321,745	SH		SOLE		321,745	0	0
Orange SA ADR	COM	684060106	536	36,500	SH		SOLE		36,500	0	0
Owens-Illinois Inc	COM	690768403	1,262	37,300	SH		SOLE		37,300	0	0
Panasonic Corp ADR	COM	69832a205	784	68,800	SH		SOLE		68,800	0	0
Park National	COM	700658107	246	3,200	SH		SOLE		3,200	0	0
Parker Hannifin	COM	701094104	1,006	8,400	SH		SOLE		8,400	0	0
Pepco Holdings, Inc.	COM	713291102	1,764	86,109	SH		SOLE		86,109	0	0
PepsiCo, Inc.	COM	713448108	10,617	127,150	SH		SOLE		127,150	0	0
Petroleo Brasileiro SA ADR	COM	71654v408	239	18,200	SH		SOLE		18,200	0	0
Petsmart Inc.	COM	716768106	1,137	16,500	SH		SOLE		16,500	0	0
Pfizer, Inc.	COM	717081103	17,815	554,624	SH		SOLE		554,624	0	0
Philip Morris International In	COM	718172109	3,127	38,200	SH		SOLE		38,200	0	0
Pinnacle West Capital	COM	723484101	705	12,900	SH		SOLE		12,900	0	0
Pitney Bowes Inc.	COM	724479100	520	20,000	SH		SOLE		20,000	0	0
Plains All American Pipeline L	COM	726503105	3,142	57,000	SH		SOLE		57,000	0	0
PNC Financial Services Group	COM	693475105	14,430	165,862	SH		SOLE		165,862	0	0
Polaris Industries	COM	731068102	2,235	16,000	SH		SOLE		16,000	0	0
Portugal Telecom SGPS SA ADR	COM	737273102	46	10,800	SH		SOLE		10,800	0	0
Potash Corp of Saskatchewan In	COM	73755L107	996	27,500	SH		SOLE		27,500	0	0
PPG Industries, Inc.	COM	693506107	933	4,825	SH		SOLE		4,825	0	0
PPL Corp.	COM	69351t106	2,413	72,800	SH		SOLE		72,800	0	0
Praxair, Inc.	COM	74005P104	4,761	36,350	SH		SOLE		36,350	0	0
Principal Financial Group	COM	74251V102	9,469	205,900	SH		SOLE		205,900	0	0
Procter & Gamble, Inc.	COM	742718109	22,415	278,100	SH		SOLE		278,100	0	0
Prospect Capital Corp	COM	74348t102	1,013	93,825	SH		SOLE		93,825	0	0
Prudential Financial, Inc.	COM	744320102	15,154	179,025	SH		SOLE		179,025	0	0
Public Service Enterprise Grou	COM	744573106	1,472	38,600	SH		SOLE		38,600	0	0
Qualcomm Inc.	COM	747525103	15,910	201,750	SH		SOLE		201,750	0	0
Quest Diagnostics Inc	COM	74834L100	631	10,900	SH		SOLE		10,900	0	0
Regal Entertainment Group - A	COM	758766109	3,350	179,325	SH		SOLE		179,325	0	0
Regions Financial Corp.	COM	7591EP100	207	18,610	SH		SOLE		18,610	0	0
Repsol SA ADR	COM	76026T205	299	11,700	SH		SOLE		11,700	0	0
Reynolds American Inc.	COM	761713106	1,774	33,200	SH		SOLE		33,200	0	0
Rio Tinto Plc ADR	COM	767204100	815	14,600	SH		SOLE		14,600	0	0
Roche Holdings Ltd-Spons ADR	COM	771195104	1,099	29,300	SH		SOLE		29,300	0	0
Rockwell Collins Inc.	COM	774341101	7,473	93,800	SH		SOLE		93,800	0	0
Royal Dutch Shell PLC ADR	COM	780259206	2,919	39,950	SH		SOLE		39,950	0	0
Ryder Systems, Inc.	COM	783549108	671	8,400	SH		SOLE		8,400	0	0
Sandisk Corp.	COM	80004c101	3,008	37,050	SH		SOLE		37,050	0	0
Sanofi ADR	COM	80105n105	2,060	39,400	SH		SOLE		39,400	0	0
Santos Limited ADR	COM	803021708	561	44,800	SH		SOLE		44,800	0	0
SAP ADR	COM	803054204	1,691	20,800	SH		SOLE		20,800	0	0
Scana Corp	COM	80589M102	1,160	22,596	SH		SOLE		22,596	0	0
Schlumberger Ltd.	COM	806857108	12,904	132,350	SH		SOLE		132,350	0	0
Seadrill Ltd	COM	G7945e105	2,391	68,000	SH		SOLE		68,000	0	0
Sealed Air Corp.	COM	81211k100	2,681	81,550	SH		SOLE		81,550	0	0
Sensata Technologies Holding A	COM	N7902X106	528	12,375	SH		SOLE		12,375	0	0
Servicenow Inc	COM	81762p102	3,920	65,425	SH		SOLE		65,425	0	0
Shinhan Financial Grp ADR	COM	824596100	413	9,400	SH		SOLE		9,400	0	0
Ship Finance Intl Ltd	COM	g81075106	1,253	69,700	SH		SOLE		69,700	0	0
Simon Property Group, Inc.	COM	828806109	2,177	13,277	SH		SOLE		13,277	0	0
Singapore Telecom-SP ADR	COM	82929R304	976	33,630	SH		SOLE		33,630	0	0
Sony Corp. ADR	COM	835699307	535	28,000	SH		SOLE		28,000	0	0
Southern Co.	COM	842587107	4,491	102,211	SH		SOLE		102,211	0	0
Spectra Energy Corp	COM	847560109	2,924	79,150	SH		SOLE		79,150	0	0
Starbucks Corp.	COM	855244109	4,062	55,350	SH		SOLE		55,350	0	0
Starwood Hotels & Resorts Inc.	COM	85590A401	7,769	97,600	SH		SOLE		97,600	0	0
State Street Corp.	COM	857477103	7,621	109,575	SH		SOLE		109,575	0	0
Statoil ASA ADR	COM	85771P102	487	17,242	SH		SOLE		17,242	0	0
Subsea 7 Sa ADR	COM	864323100	512	27,550	SH		SOLE		27,550	0	0
Swisscom AG ADR	COM	871013108	467	7,600	SH		SOLE		7,600	0	0
Symantec Corp.	COM	871503108	2,418	121,063	SH		SOLE		121,063	0	0
Syngenta AG ADR	COM	87160a100	655	8,650	SH		SOLE		8,650	0	0
Synopsys Inc.	COM	871607107	764	19,900	SH		SOLE		19,900	0	0
Syntel, Inc.	COM	87162H103	645	7,175	SH		SOLE		7,175	0	0
Taiwan Semiconductor Manufactu	COM	874039100	1,169	58,386	SH		SOLE		58,386	0	0
Target Corp.	COM	87612e106	10,019	165,575	SH		SOLE		165,575	0	0
Telecom Italia ADR	COM	87927y102	249	21,140	SH		SOLE		21,140	0	0
Telefonica SA ADR	COM	879382208	772	48,883	SH		SOLE		48,883	0	0
Telenor ASA ADR	COM	87944W105	598	9,000	SH		SOLE		9,000	0	0
Tenaris SA-ADR	COM	88031M109	261	5,900	SH		SOLE		5,900	0	0
Teradata Corp	COM	88076w103	2,246	45,650	SH		SOLE		45,650	0	0
Tessera Technologies Inc.	COM	88164L100	3,476	147,100	SH		SOLE		147,100	0	0
Teva Pharmaceutical Industries	COM	881624209	863	16,325	SH		SOLE		16,325	0	0
Texas Instruments	COM	882508104	9,107	193,100	SH		SOLE		193,100	0	0
The Travelers Companies, Inc.	COM	89417E109	13,680	160,751	SH		SOLE		160,751	0	0
Thermo Fisher Scientific Inc	COM	883556102	7,930	65,950	SH		SOLE		65,950	0	0
Tibco Software	COM	88632Q103	443	21,800	SH		SOLE		21,800	0	0
Tiffany & Co.	COM	886547108	3,823	44,375	SH		SOLE		44,375	0	0
Timken Co	COM	887389104	1,005	17,100	SH		SOLE		17,100	0	0
Tokio Marine Holdings Inc ADR	COM	889094108	729	24,250	SH		SOLE		24,250	0	0
Tornier NV ADR	COM	n87237108	438	20,650	SH		SOLE		20,650	0	0
Total SA ADR	COM	89151e109	2,257	34,400	SH		SOLE		34,400	0	0
Toyota Motor Corp. ADR	COM	892331307	4,042	35,800	SH		SOLE		35,800	0	0
Transcanada Pipelines Ltd	COM	89353d107	1,759	38,650	SH		SOLE		38,650	0	0
Transocean Ltd	COM	H8817H100	1,539	37,238	SH		SOLE		37,238	0	0
Tupperware Brands Corp	COM	899896104	2,731	32,600	SH		SOLE		32,600	0	0
Twenty-First Century Fox Inc	COM	90130a101	3,978	124,425	SH		SOLE		124,425	0	0
U.S. Bancorp	COM	902973304	11,830	276,017	SH		SOLE		276,017	0	0
UBS AG ADR	COM	H89231338	618	29,850	SH		SOLE		29,850	0	0
Unilever PLC ADR	COM	904767704	1,567	36,640	SH		SOLE		36,640	0	0
Union Pacific	COM	907818108	5,452	29,050	SH		SOLE		29,050	0	0
United Health Group Inc.	COM	91324P102	9,714	118,475	SH		SOLE		118,475	0	0
United Parcel Services Cl B	COM	911312106	10,035	103,050	SH		SOLE		103,050	0	0
United Technologies	COM	913017109	11,906	101,900	SH		SOLE		101,900	0	0
Varian Medical Systems Inc	COM	92220P105	5,396	64,250	SH		SOLE		64,250	0	0
Verizon Communications Inc	COM	92343v104	14,475	304,290	SH		SOLE		304,290	0	0
Vodafone Group PLC ADR	COM	92857w308	1,156	31,402	SH		SOLE		31,402	0	0
Volvo AB ADR	COM	928856400	347	21,875	SH		SOLE		21,875	0	0
Vulcan Materials	COM	929160109	1,788	26,900	SH		SOLE		26,900	0	0
Waddell & Reed Financial, Inc.	COM	930059100	1,524	20,700	SH		SOLE		20,700	0	0
Wal-Mart	COM	931142103	12,412	162,400	SH		SOLE		162,400	0	0
Walgreen Co.	COM	931422109	8,553	129,525	SH		SOLE		129,525	0	0
Walt Disney Co.	COM	254687106	21,691	270,900	SH		SOLE		270,900	0	0
Weingarten Realty Investors	COM	948741103	875	29,150	SH		SOLE		29,150	0	0
WellPoint, Inc.	COM	94973V107	6,879	69,100	SH		SOLE		69,100	0	0
Wells Fargo Co.	COM	949746101	17,876	359,393	SH		SOLE		359,393	0	0
Western Gas Partners	COM	958254104	659	9,950	SH		SOLE		9,950	0	0
Westpac Banking Corp. Ltd ADR	COM	961214301	4,873	152,000	SH		SOLE		152,000	0	0
Williams Cos.	COM	969457100	2,707	66,700	SH		SOLE		66,700	0	0
Windstream Holdings Inc	COM	97382a101	3,590	435,663	SH		SOLE		435,663	0	0
Wisconsin Energy Corp.	COM	976657106	4,206	90,350	SH		SOLE		90,350	0	0
WPP PLC ADR	COM	92937a102	577	5,600	SH		SOLE		5,600	0	0
Zoetis	COM	98978v103	2,491	86,075	SH		SOLE		86,075	0	0
Kinder Morgan Inc Del Warrant	COM	49456b119	82	46,088	SH		SOLE		46,088	0	0
Wisdomtree Emerging Markets Eq	COM	97717w315	7,742	157,775	SH		SOLE		157,775	0	0