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	609	34,350	SH		SOLE		34,350	0	0
Abbott Labs	COM	002824100	6,296	140,200	SH		SOLE		140,200	0	0
Abbvie Inc	COM	00287y109	9,775	165,000	SH		SOLE		165,000	0	0
Aberdeen Asset Management PLC	COM	00300a104	194	22,925	SH		SOLE		22,925	0	0
Accenture PLC CL A	COM	g1151c101	4,437	42,455	SH		SOLE		42,455	0	0
Activision Blizzard Inc	COM	00507v109	5,056	130,623	SH		SOLE		130,623	0	0
Adobe Systems	COM	00724f101	7,374	78,499	SH		SOLE		78,499	0	0
Aegon NV ADR	COM	007924103	57	10,100	SH		SOLE		10,100	0	0
Air Products & Chemicals, Inc.	COM	009158106	3,428	26,350	SH		SOLE		26,350	0	0
Akamai Technologies Inc.	COM	00971t101	5,524	104,950	SH		SOLE		104,950	0	0
Alcatel-Lucent ADR	COM	013904305	69	18,000	SH		SOLE		18,000	0	0
Alcentra Capital Corp	COM	01374t102	549	47,331	SH		SOLE		47,331	0	0
Alibaba Group Holdings	COM	01609w102	5,521	67,930	SH		SOLE		67,930	0	0
Allegheny Technologies Inc.	COM	01741r102	1,009	89,725	SH		SOLE		89,725	0	0
Allergan PLC	COM	g0177j108	7,869	25,180	SH		SOLE		25,180	0	0
AllianceBernstein Holding LP	COM	01881G106	234	9,800	SH		SOLE		9,800	0	0
Allstate Corp	COM	020002101	2,650	42,675	SH		SOLE		42,675	0	0
Alphabet Inc Class A	COM	02079k305	19,820	25,475	SH		SOLE		25,475	0	0
Alphabet Inc Class C	COM	02079k107	19,383	25,542	SH		SOLE		25,542	0	0
Altria Group, Inc.	COM	02209s103	19,481	334,675	SH		SOLE		334,675	0	0
Amazon.com, Inc.	COM	023135106	8,026	11,875	SH		SOLE		11,875	0	0
Ambev SA ADR	COM	02319v103	518	116,250	SH		SOLE		116,250	0	0
Amdocs Ltd	COM	G02602103	4,443	81,425	SH		SOLE		81,425	0	0
Amedisys Inc.	COM	023436108	247	6,285	SH		SOLE		6,285	0	0
America Movil SA de CV ADR	COM	02364w105	380	27,050	SH		SOLE		27,050	0	0
American Campus Communities	COM	024835100	2,709	65,525	SH		SOLE		65,525	0	0
American Electric Power	COM	025537101	3,806	65,325	SH		SOLE		65,325	0	0
American Express	COM	025816109	9,342	134,325	SH		SOLE		134,325	0	0
American States Water Co	COM	029899101	1,384	33,000	SH		SOLE		33,000	0	0
Anadarko Petroleum Corp.	COM	032511107	3,911	80,500	SH		SOLE		80,500	0	0
Anheuser-Busch	COM	03524a108	10,175	81,400	SH		SOLE		81,400	0	0
Anthem Inc	COM	036752103	9,635	69,100	SH		SOLE		69,100	0	0
Apache Corp	COM	037411105	2,640	59,375	SH		SOLE		59,375	0	0
Apollo Global Management LLC	COM	037612306	731	48,150	SH		SOLE		48,150	0	0
Apple Inc	COM	037833100	46,438	441,175	SH		SOLE		441,175	0	0
Applied Materials Inc.	COM	038222105	327	17,500	SH		SOLE		17,500	0	0
Ares Capital Corp	COM	04010L103	873	61,275	SH		SOLE		61,275	0	0
Arlington Asset Investment Cor	COM	041356205	175	13,228	SH		SOLE		13,228	0	0
Arthur J. Gallagher & Co.	COM	363576109	5,543	135,400	SH		SOLE		135,400	0	0
AstraZeneca Group PLC ADR	COM	046353108	895	26,350	SH		SOLE		26,350	0	0
AT&T Inc.	COM	00206R102	18,593	540,323	SH		SOLE		540,323	0	0
Atmos Energy Corp.	COM	049560105	3,143	49,850	SH		SOLE		49,850	0	0
Aviva PLC ADR	COM	05382a104	286	18,800	SH		SOLE		18,800	0	0
AXA SA ADR	COM	054536107	721	26,300	SH		SOLE		26,300	0	0
Baidu.com	COM	056752108	572	3,025	SH		SOLE		3,025	0	0
Baker Hughes	COM	057224107	581	12,597	SH		SOLE		12,597	0	0
Banco Bilbao Vizcaya Argentari	COM	05946K101	783	106,836	SH		SOLE		106,836	0	0
Banco de Chile ADR	COM	059520106	276	4,650	SH		SOLE		4,650	0	0
Banco Santander Central Hispan	COM	05964h105	285	58,500	SH		SOLE		58,500	0	0
Bank of New York Mellon Corp.	COM	064058100	10,355	251,207	SH		SOLE		251,207	0	0
Barclays PLC ADR	COM	06738e204	448	34,600	SH		SOLE		34,600	0	0
BASF SE ADR	COM	055262505	1,110	14,450	SH		SOLE		14,450	0	0
Baxalta Inc	COM	07177m103	1,667	42,700	SH		SOLE		42,700	0	0
BB&T Corporation	COM	054937107	3,611	95,500	SH		SOLE		95,500	0	0
Becton Dickinson and Co	COM	075887109	1,097	7,121	SH		SOLE		7,121	0	0
Bed Bath & Beyond Inc.	COM	075896100	4,615	95,650	SH		SOLE		95,650	0	0
BG Group Plc ADR	COM	055434203	1,161	80,000	SH		SOLE		80,000	0	0
BHP Billiton Ltd. ADR	COM	088606108	579	22,475	SH		SOLE		22,475	0	0
Biomarin Pharmaceutical Inc	COM	09061g101	2,954	28,200	SH		SOLE		28,200	0	0
Blackstone Group LP	COM	09253u108	5,335	182,449	SH		SOLE		182,449	0	0
Block H&R	COM	093671105	8,448	253,625	SH		SOLE		253,625	0	0
Bloomin Brands Inc	COM	094235108	3,142	186,025	SH		SOLE		186,025	0	0
Boardwalk Pipeline Partners L.	COM	096627104	946	72,900	SH		SOLE		72,900	0	0
Boeing Company	COM	097023105	19,057	131,800	SH		SOLE		131,800	0	0
Boston Properties Inc	COM	101121101	1,314	10,300	SH		SOLE		10,300	0	0
Boston Scientific	COM	101137107	243	13,200	SH		SOLE		13,200	0	0
BP plc ADR	COM	055622104	2,599	83,150	SH		SOLE		83,150	0	0
British American Tob SP ADR	COM	110448107	1,350	12,225	SH		SOLE		12,225	0	0
Broadcom Corp	COM	111320107	6,487	112,200	SH		SOLE		112,200	0	0
BT Group PLC ADR	COM	05577e101	1,281	37,000	SH		SOLE		37,000	0	0
California Water Service Group	COM	130788102	633	27,200	SH		SOLE		27,200	0	0
Calpine Corp	COM	131347304	2,299	158,875	SH		SOLE		158,875	0	0
Cameron International Corp	COM	13342B105	4,871	77,075	SH		SOLE		77,075	0	0
Canadian Solar Inc	COM	136635109	3,125	107,900	SH		SOLE		107,900	0	0
Canon Inc. ADR	COM	138006309	743	24,675	SH		SOLE		24,675	0	0
Capital One Financial	COM	14040H105	6,040	83,675	SH		SOLE		83,675	0	0
Carlyle Group	COM	14309l102	577	36,950	SH		SOLE		36,950	0	0
Carrizo Oil & Gas Inc	COM	144577103	2,300	77,750	SH		SOLE		77,750	0	0
Caterpillar Inc.	COM	149123101	3,191	46,950	SH		SOLE		46,950	0	0
CBS Corp.	COM	124857202	5,340	113,300	SH		SOLE		113,300	0	0
Celgene Corp.	COM	151020104	26,432	220,710	SH		SOLE		220,710	0	0
Cemex SAB de CV ADR	COM	151290889	90	16,171	SH		SOLE		16,171	0	0
Charles Schwab Corp.	COM	808513105	9,385	285,000	SH		SOLE		285,000	0	0
Chart Industries Inc	COM	16115q308	1,291	71,900	SH		SOLE		71,900	0	0
Chesapeake Energy Corp	COM	165167107	505	112,150	SH		SOLE		112,150	0	0
Chevron Corp.	COM	166764100	15,299	170,060	SH		SOLE		170,060	0	0
Church & Dwight Co.	COM	171340102	8,199	96,600	SH		SOLE		96,600	0	0
Cincinnati Financial	COM	172062101	858	14,500	SH		SOLE		14,500	0	0
Cinemark Holdings Inc.	COM	17243v102	2,758	82,500	SH		SOLE		82,500	0	0
Cisco Systems	COM	17275R102	14,954	550,700	SH		SOLE		550,700	0	0
CIT Group	COM	125581801	1,421	35,800	SH		SOLE		35,800	0	0
Citigroup Inc.	COM	172967424	9,893	191,175	SH		SOLE		191,175	0	0
CK Hutchison Holdings Limited	COM	12562y100	1,273	94,694	SH		SOLE		94,694	0	0
Cliffs Natural Resources Inc	COM	18683k101	19	11,750	SH		SOLE		11,750	0	0
CMS Energy Corp.	COM	125896100	5,180	143,575	SH		SOLE		143,575	0	0
Coca-Cola	COM	191216100	1,044	24,300	SH		SOLE		24,300	0	0
Cogent Communications Holding	COM	19239v302	4,743	136,720	SH		SOLE		136,720	0	0
Cognizant Tech Solutions Corp.	COM	192446102	4,464	74,377	SH		SOLE		74,377	0	0
Columbia Pipeline Group	COM	198280109	3,485	174,250	SH		SOLE		174,250	0	0
Columbia Sportswear Co	COM	198516106	3,925	80,500	SH		SOLE		80,500	0	0
Comerica, Inc.	COM	200340107	795	19,000	SH		SOLE		19,000	0	0
Communications Sales & Leasing	COM	20341j104	1,629	87,132	SH		SOLE		87,132	0	0
Companhia Vale do Rio Doce ADR	COM	91912e105	47	14,150	SH		SOLE		14,150	0	0
Constellation Brands	COM	21036p108	10,038	70,475	SH		SOLE		70,475	0	0
Continental Resources Inc	COM	212015101	2,037	88,650	SH		SOLE		88,650	0	0
Cooper Tire & Rubber Co.	COM	216831107	833	22,000	SH		SOLE		22,000	0	0
Corning Inc.	COM	219350105	4,802	262,700	SH		SOLE		262,700	0	0
Costco Co.	COM	22160k105	6,860	42,475	SH		SOLE		42,475	0	0
Cracker Barrel Old Country Sto	COM	22410j106	1,237	9,750	SH		SOLE		9,750	0	0
Crown Castle International Cor	COM	22822V101	5,887	68,100	SH		SOLE		68,100	0	0
CTRIP.COM International ADR	COM	22943F100	519	11,200	SH		SOLE		11,200	0	0
Cummins Inc	COM	231021106	3,413	38,775	SH		SOLE		38,775	0	0
CVS Health Corp	COM	126650100	13,473	137,804	SH		SOLE		137,804	0	0
Daimler AG ADR	COM	D1668R123	1,355	16,200	SH		SOLE		16,200	0	0
Danaher Corp.	COM	235851102	15,218	163,850	SH		SOLE		163,850	0	0
Danone ADR	COM	23636t100	501	37,000	SH		SOLE		37,000	0	0
Darden Restaurants Inc.	COM	237194105	8,919	140,150	SH		SOLE		140,150	0	0
Davita Healthcare Partners Inc	COM	23918K108	6,619	94,950	SH		SOLE		94,950	0	0
DCP Midstream Partners LP	COM	23311p100	908	36,800	SH		SOLE		36,800	0	0
DDR Corp	COM	23317h102	242	14,351	SH		SOLE		14,351	0	0
Deutsche Bank ADR	COM	D18190898	215	8,900	SH		SOLE		8,900	0	0
Deutsche Post AG ADR	COM	25157y202	282	10,000	SH		SOLE		10,000	0	0
Deutsche Telekom AG ADR	COM	251566105	1,104	60,900	SH		SOLE		60,900	0	0
Diageo PLC ADR	COM	25243q205	1,235	11,325	SH		SOLE		11,325	0	0
Diamond Offshore Drilling	COM	25271c102	534	25,300	SH		SOLE		25,300	0	0
Diebold Inc	COM	253651103	1,152	38,300	SH		SOLE		38,300	0	0
Digital Realty	COM	253868103	1,724	22,800	SH		SOLE		22,800	0	0
Dollar General	COM	256677105	5,212	72,525	SH		SOLE		72,525	0	0
Dominion Resources	COM	25746u109	3,773	55,775	SH		SOLE		55,775	0	0
Donnelley (R.R.) & Sons	COM	257867101	396	26,900	SH		SOLE		26,900	0	0
Dr. Pepper Snapple Group, Inc	COM	26138e109	514	5,520	SH		SOLE		5,520	0	0
Du Pont (E.I.) De Nemours & Co	COM	263534109	7,967	119,629	SH		SOLE		119,629	0	0
Duke Energy Corp.	COM	26441C204	6,792	95,146	SH		SOLE		95,146	0	0
Duke Realty Corp.	COM	264411505	1,570	74,700	SH		SOLE		74,700	0	0
Eagle Materials Inc	COM	26969P108	2,637	43,630	SH		SOLE		43,630	0	0
Edison Int'l	COM	281020107	2,317	39,140	SH		SOLE		39,140	0	0
EMC Corp.	COM	268648102	2,877	112,018	SH		SOLE		112,018	0	0
Emerge Energy Services LP	COM	29102h108	63	13,550	SH		SOLE		13,550	0	0
Enable Midstream Partners LP	COM	292480100	445	48,400	SH		SOLE		48,400	0	0
Enbridge Energy Partners LP	COM	29250r106	2,305	99,900	SH		SOLE		99,900	0	0
Endo International PLC	COM	G30401106	7,013	114,550	SH		SOLE		114,550	0	0
ENI SPA ADR	COM	26874r108	670	22,475	SH		SOLE		22,475	0	0
Enterprise Products Partners L	COM	293792107	2,133	83,400	SH		SOLE		83,400	0	0
EOG Resources	COM	26875p101	6,198	87,550	SH		SOLE		87,550	0	0
EPR Properties	COM	26884u109	2,644	45,235	SH		SOLE		45,235	0	0
Equity Residential Properties	COM	29476l107	4,186	51,300	SH		SOLE		51,300	0	0
Ericsson ADR	COM	294821608	896	93,200	SH		SOLE		93,200	0	0
Essex Property Trust Inc	COM	297178105	4,809	20,085	SH		SOLE		20,085	0	0
Ethan Allen Interiors Inc.	COM	297602104	253	9,100	SH		SOLE		9,100	0	0
Exact Sciences Corp	COM	30063P105	1,530	165,750	SH		SOLE		165,750	0	0
Express	COM	30219e103	1,976	114,325	SH		SOLE		114,325	0	0
Express Scripts Holding Compan	COM	30219g108	6,927	79,250	SH		SOLE		79,250	0	0
Exxon Mobil Corp.	COM	30231g102	25,663	329,224	SH		SOLE		329,224	0	0
F5 Networks Inc.	COM	315616102	3,345	34,500	SH		SOLE		34,500	0	0
Facebook Inc	COM	30303M102	15,613	149,176	SH		SOLE		149,176	0	0
Fedex Corp.	COM	31428x106	4,809	32,275	SH		SOLE		32,275	0	0
Fifth Street Finance Corp	COM	31678a103	659	103,250	SH		SOLE		103,250	0	0
Fifth Third Bancorp	COM	316773100	3,626	180,400	SH		SOLE		180,400	0	0
Flowserve Corp.	COM	34354P105	5,195	123,450	SH		SOLE		123,450	0	0
FMC Technologies Inc	COM	30249U101	2,271	78,275	SH		SOLE		78,275	0	0
Fomento Economico Mexicana-SP	COM	344419106	660	7,150	SH		SOLE		7,150	0	0
Ford Motor Co.	COM	345370860	4,041	286,800	SH		SOLE		286,800	0	0
Four Corners Property Trust In	COM	35086t109	1,129	46,712	SH		SOLE		46,712	0	0
Freeport-McMoRan Inc	COM	35671d857	959	141,600	SH		SOLE		141,600	0	0
Frontier Communications Corp	COM	35906a108	2,323	497,398	SH		SOLE		497,398	0	0
G-III Apparel Group LTD	COM	36237h101	2,571	58,095	SH		SOLE		58,095	0	0
Garmin Ltd	COM	H2906T109	725	19,500	SH		SOLE		19,500	0	0
General Electric Co.	COM	369604103	27,381	879,000	SH		SOLE		879,000	0	0
General Growth Properties	COM	370023103	499	18,331	SH		SOLE		18,331	0	0
General Motors Inc	COM	37045v100	3,785	111,300	SH		SOLE		111,300	0	0
Genuine Parts Co.	COM	372460105	2,706	31,500	SH		SOLE		31,500	0	0
Gilead Science Inc	COM	375558103	24,736	244,450	SH		SOLE		244,450	0	0
GlaxoSmithKline plc ADR	COM	37733W105	1,330	32,950	SH		SOLE		32,950	0	0
Goldman Sachs Group	COM	38141g104	10,643	59,050	SH		SOLE		59,050	0	0
Grifols SA ADR	COM	398438408	351	10,825	SH		SOLE		10,825	0	0
Grupo Televisa SA ADR	COM	40049j206	297	10,925	SH		SOLE		10,925	0	0
Halliburton Co.	COM	406216101	5,138	150,950	SH		SOLE		150,950	0	0
Harman International Industrie	COM	413086109	999	10,600	SH		SOLE		10,600	0	0
HCP Inc	COM	40414L109	2,336	61,100	SH		SOLE		61,100	0	0
Hellenic Telecom Organization	COM	423325307	201	40,100	SH		SOLE		40,100	0	0
Hess Corporation	COM	42809h107	2,663	54,925	SH		SOLE		54,925	0	0
Hitachi Ltd. ADR	COM	433578507	546	9,500	SH		SOLE		9,500	0	0
Hologic Inc	COM	436440101	774	20,000	SH		SOLE		20,000	0	0
Home Depot, Inc.	COM	437076102	25,114	189,900	SH		SOLE		189,900	0	0
Honda Motor Co Ltd. ADR	COM	438128308	1,664	52,100	SH		SOLE		52,100	0	0
Honeywell International, Inc.	COM	438516106	12,164	117,450	SH		SOLE		117,450	0	0
Horizon Pharma Plc	COM	g4617b105	2,994	138,175	SH		SOLE		138,175	0	0
Host Hotels & Resorts Inc.	COM	44107P104	7,004	456,575	SH		SOLE		456,575	0	0
HSBC Holdings ADR	COM	404280406	564	14,300	SH		SOLE		14,300	0	0
Hunt (J.B.) Transport	COM	445658107	1,122	15,300	SH		SOLE		15,300	0	0
Icon PLC ADR	COM	G4705A100	575	7,400	SH		SOLE		7,400	0	0
Imperva Inc	COM	45321L100	3,404	53,775	SH		SOLE		53,775	0	0
Infineon Technologies ADR	COM	45662n103	540	36,825	SH		SOLE		36,825	0	0
Infosys Ltd ADR	COM	456788108	2,606	155,600	SH		SOLE		155,600	0	0
Ing Groep NV ADR	COM	456837103	211	15,700	SH		SOLE		15,700	0	0
Ingenico Group	COM	45684w107	468	18,475	SH		SOLE		18,475	0	0
Intel Corp.	COM	458140100	12,881	373,910	SH		SOLE		373,910	0	0
International Business Machine	COM	459200101	4,472	32,497	SH		SOLE		32,497	0	0
Intesa Sanpaolo ADR	COM	46115h107	219	10,899	SH		SOLE		10,899	0	0
Invesco Ltd	COM	g491bt108	6,460	192,950	SH		SOLE		192,950	0	0
Iron Mountain Inc.	COM	46284V101	5,797	214,625	SH		SOLE		214,625	0	0
Itau Unibanco Holding SA ADR	COM	465562106	197	30,189	SH		SOLE		30,189	0	0
Johnson & Johnson	COM	478160104	23,310	226,925	SH		SOLE		226,925	0	0
Johnson Controls, Inc.	COM	478366107	5,733	145,175	SH		SOLE		145,175	0	0
Joy Global Inc.	COM	481165108	485	38,500	SH		SOLE		38,500	0	0
JPMorgan Chase & Co.	COM	46625h100	22,840	345,907	SH		SOLE		345,907	0	0
Kamada Ltd ADR	COM	m6240t109	74	17,750	SH		SOLE		17,750	0	0
Kasikornbank PCL ADR	COM	485785109	217	12,954	SH		SOLE		12,954	0	0
Kellogg Co.	COM	487836108	2,660	36,800	SH		SOLE		36,800	0	0
Kennametal Inc.	COM	489170100	313	16,300	SH		SOLE		16,300	0	0
Kimco Realty Corp.	COM	49446r109	2,254	85,175	SH		SOLE		85,175	0	0
Kinder Morgan Inc.	COM	49456b101	2,088	139,937	SH		SOLE		139,937	0	0
Kingfisher PLC ADR	COM	495724403	253	26,000	SH		SOLE		26,000	0	0
Kirin Holdings Co ADR	COM	497350306	456	33,300	SH		SOLE		33,300	0	0
KKR & Co LP	COM	48248m102	800	51,300	SH		SOLE		51,300	0	0
Koninklijke KPN NV ADR	COM	780641205	57	15,000	SH		SOLE		15,000	0	0
Koninklijke Philips NV ADR	COM	500472303	216	8,500	SH		SOLE		8,500	0	0
Kraft Heinz Co The	COM	500754106	478	6,575	SH		SOLE		6,575	0	0
Kubota Corp-Spon ADR	COM	501173207	383	4,875	SH		SOLE		4,875	0	0
L Brands Inc	COM	501797104	10,231	106,775	SH		SOLE		106,775	0	0
Lamar Advertising Co	COM	512816109	1,230	20,500	SH		SOLE		20,500	0	0
Leggett & Platt	COM	524660107	1,429	34,000	SH		SOLE		34,000	0	0
Lexington Realty Trust	COM	529043101	260	32,562	SH		SOLE		32,562	0	0
Liberty Property Trust	COM	531172104	1,897	61,100	SH		SOLE		61,100	0	0
Lilly (Eli) & Co.	COM	532457108	15,066	178,800	SH		SOLE		178,800	0	0
Linear Technology Corp.	COM	535678106	1,794	42,250	SH		SOLE		42,250	0	0
Logitech International SA ADR	COM	H50430232	633	42,020	SH		SOLE		42,020	0	0
Lowe's Co.	COM	548661107	18,333	241,100	SH		SOLE		241,100	0	0
Luxottica Group SPA ADR	COM	55068r202	467	7,200	SH		SOLE		7,200	0	0
Lyondellbassel Industries N.V.	COM	N53745100	3,231	37,185	SH		SOLE		37,185	0	0
Macerich Co.	COM	554382101	1,753	21,719	SH		SOLE		21,719	0	0
Mack-Cali Realty Corp.	COM	554489104	607	26,000	SH		SOLE		26,000	0	0
Mallinckrodt PLC	COM	g5785g107	750	10,050	SH		SOLE		10,050	0	0
Marsh & McLennan Companies, In	COM	571748102	13,962	251,800	SH		SOLE		251,800	0	0
Mattel Inc.	COM	577081102	4,978	183,200	SH		SOLE		183,200	0	0
Maxim Integrated Products, Inc	COM	57772k101	5,916	155,675	SH		SOLE		155,675	0	0
McCormick & Co.	COM	579780206	7,536	88,075	SH		SOLE		88,075	0	0
McDonald's Corp.	COM	580135101	10,452	88,475	SH		SOLE		88,475	0	0
Mckesson HBOC Inc.	COM	58155q103	2,845	14,425	SH		SOLE		14,425	0	0
Medtronic Inc	COM	g5960l103	5,914	76,883	SH		SOLE		76,883	0	0
Mercadolibre Inc ADR	COM	58733r102	660	5,775	SH		SOLE		5,775	0	0
Merck & Co., Inc.	COM	58933y105	13,670	258,800	SH		SOLE		258,800	0	0
Metlife Inc	COM	59156R108	7,438	154,275	SH		SOLE		154,275	0	0
Michael Kors Holdings	COM	G60754101	1,307	32,625	SH		SOLE		32,625	0	0
Micron Technology Inc.	COM	595112103	1,384	97,770	SH		SOLE		97,770	0	0
Microsoft Corp	COM	594918104	37,396	674,041	SH		SOLE		674,041	0	0
Minerals Technologies Inc	COM	603158106	2,373	51,735	SH		SOLE		51,735	0	0
Mitsubishi UFJ Financial Group	COM	606822104	1,534	246,550	SH		SOLE		246,550	0	0
Mitsui & Co Ltd-Spons ADR	COM	606827202	342	1,425	SH		SOLE		1,425	0	0
Mohawk Industries Inc.	COM	608190104	3,459	18,265	SH		SOLE		18,265	0	0
Molson Coors Brewing Company	COM	60871r209	8,913	94,900	SH		SOLE		94,900	0	0
Mondelez International Inc	COM	609207105	885	19,727	SH		SOLE		19,727	0	0
Monsanto Co.	COM	61166w101	4,616	46,850	SH		SOLE		46,850	0	0
Morgan Stanley, Dean Witter, D	COM	617446448	6,442	202,500	SH		SOLE		202,500	0	0
Mylan NV	COM	n59465109	11,128	205,800	SH		SOLE		205,800	0	0
National Fuel Gas Co.	COM	636180101	385	9,000	SH		SOLE		9,000	0	0
National Oilwell Varco Inc	COM	637071101	2,441	72,900	SH		SOLE		72,900	0	0
Netflix Inc	COM	64110l106	3,146	27,505	SH		SOLE		27,505	0	0
New York Community Bancorp	COM	649445103	2,186	133,925	SH		SOLE		133,925	0	0
Newell Rubbermaid Inc.	COM	651229106	264	6,000	SH		SOLE		6,000	0	0
NextEra Energy Inc	COM	65339f101	4,344	41,816	SH		SOLE		41,816	0	0
NICE Systems Ltd ADR	COM	653656108	398	6,950	SH		SOLE		6,950	0	0
Nippon Telegraph & Telephone C	COM	654624105	2,498	62,850	SH		SOLE		62,850	0	0
Nisource Inc.	COM	65473P105	3,400	174,250	SH		SOLE		174,250	0	0
Norsk Hydro ASA ADR	COM	656531605	75	20,000	SH		SOLE		20,000	0	0
Northen Tier Energy LP	COM	665826103	1,213	46,900	SH		SOLE		46,900	0	0
Northrop Grumman Corp.	COM	666807102	9,455	50,075	SH		SOLE		50,075	0	0
Novartis ADR	COM	66987v109	2,891	33,600	SH		SOLE		33,600	0	0
Novo Nordisk ADR	COM	670100205	3,601	62,000	SH		SOLE		62,000	0	0
NRG Energy, Inc.	COM	629377508	1,164	98,925	SH		SOLE		98,925	0	0
Occidental Petroleum	COM	674599105	5,277	78,050	SH		SOLE		78,050	0	0
Oracle Corp.	COM	68389x105	9,290	254,324	SH		SOLE		254,324	0	0
Orange SA ADR	COM	684060106	549	33,000	SH		SOLE		33,000	0	0
Owens-Illinois Inc	COM	690768403	650	37,300	SH		SOLE		37,300	0	0
Palo Alto Networks Inc	COM	697435105	3,155	17,910	SH		SOLE		17,910	0	0
Panasonic Corp ADR	COM	69832a205	641	62,200	SH		SOLE		62,200	0	0
Park National	COM	700658107	244	2,700	SH		SOLE		2,700	0	0
Parker Hannifin	COM	701094104	815	8,400	SH		SOLE		8,400	0	0
Patterson-UTI Energy	COM	703481101	1,666	110,455	SH		SOLE		110,455	0	0
Pepco Holdings, Inc.	COM	713291102	2,240	86,109	SH		SOLE		86,109	0	0
PepsiCo, Inc.	COM	713448108	12,705	127,150	SH		SOLE		127,150	0	0
Petroleo Brasileiro SA ADR	COM	71654v408	71	16,400	SH		SOLE		16,400	0	0
Pfizer, Inc.	COM	717081103	17,903	554,624	SH		SOLE		554,624	0	0
Philip Morris International In	COM	718172109	3,358	38,200	SH		SOLE		38,200	0	0
Pinnacle West Capital	COM	723484101	832	12,900	SH		SOLE		12,900	0	0
Pitney Bowes Inc.	COM	724479100	413	20,000	SH		SOLE		20,000	0	0
Plains All American Pipeline L	COM	726503105	1,317	57,000	SH		SOLE		57,000	0	0
PNC Financial Services Group	COM	693475105	14,748	154,734	SH		SOLE		154,734	0	0
Polaris Industries	COM	731068102	1,203	14,000	SH		SOLE		14,000	0	0
Potash Corp of Saskatchewan In	COM	73755L107	431	25,200	SH		SOLE		25,200	0	0
PPG Industries, Inc.	COM	693506107	954	9,650	SH		SOLE		9,650	0	0
PPL Corp.	COM	69351t106	2,485	72,800	SH		SOLE		72,800	0	0
Prada SPA ADR	COM	73942h100	193	31,100	SH		SOLE		31,100	0	0
Principal Financial Group	COM	74251V102	9,261	205,900	SH		SOLE		205,900	0	0
Procter & Gamble, Inc.	COM	742718109	22,084	278,100	SH		SOLE		278,100	0	0
Prologis Trust	COM	74340w103	6,238	145,350	SH		SOLE		145,350	0	0
Prospect Capital Corp	COM	74348t102	655	93,825	SH		SOLE		93,825	0	0
Prudential Financial, Inc.	COM	744320102	14,574	179,025	SH		SOLE		179,025	0	0
PTC Inc	COM	69370c100	3,219	92,950	SH		SOLE		92,950	0	0
Public Service Enterprise Grou	COM	744573106	1,493	38,600	SH		SOLE		38,600	0	0
Qualcomm Inc.	COM	747525103	7,785	155,738	SH		SOLE		155,738	0	0
Quest Diagnostics Inc	COM	74834L100	775	10,900	SH		SOLE		10,900	0	0
RackSpace Hosting Inc	COM	750086100	3,779	149,230	SH		SOLE		149,230	0	0
Red Hat Inc.	COM	756577102	3,588	43,325	SH		SOLE		43,325	0	0
Regal Entertainment Group - A	COM	758766109	3,384	179,325	SH		SOLE		179,325	0	0
Regions Financial Corp.	COM	7591EP100	179	18,610	SH		SOLE		18,610	0	0
Repsol SA ADR	COM	76026T205	129	11,700	SH		SOLE		11,700	0	0
Rexnord Corp	COM	76169b102	2,285	126,100	SH		SOLE		126,100	0	0
Reynolds American Inc	COM	761713106	4,640	100,548	SH		SOLE		100,548	0	0
RingCentral Inc	COM	76680r206	2,706	114,775	SH		SOLE		114,775	0	0
Rio Tinto Plc ADR	COM	767204100	425	14,600	SH		SOLE		14,600	0	0
Roche Holdings Ltd-Spons ADR	COM	771195104	1,011	29,300	SH		SOLE		29,300	0	0
Rockwell Collins Inc.	COM	774341101	8,658	93,800	SH		SOLE		93,800	0	0
Royal Dutch Shell PLC ADR	COM	780259206	1,829	39,950	SH		SOLE		39,950	0	0
Ryder Systems, Inc.	COM	783549108	477	8,400	SH		SOLE		8,400	0	0
Salesforce.com Inc	COM	79466L302	4,980	63,519	SH		SOLE		63,519	0	0
Sandisk Corp.	COM	80004c101	2,774	36,500	SH		SOLE		36,500	0	0
Sanofi ADR	COM	80105n105	1,680	39,400	SH		SOLE		39,400	0	0
Santos Limited ADR	COM	803021708	120	44,800	SH		SOLE		44,800	0	0
SAP SE	COM	803054204	1,645	20,800	SH		SOLE		20,800	0	0
Scana Corp	COM	80589M102	1,367	22,596	SH		SOLE		22,596	0	0
Schlumberger Ltd.	COM	806857108	9,231	132,350	SH		SOLE		132,350	0	0
Schneider Electric SE ADR	COM	80687p106	237	20,775	SH		SOLE		20,775	0	0
Sealed Air Corp.	COM	81211k100	3,637	81,550	SH		SOLE		81,550	0	0
Sensata Technologies Holding A	COM	N7902X106	570	12,375	SH		SOLE		12,375	0	0
Servicenow Inc	COM	81762p102	2,482	28,671	SH		SOLE		28,671	0	0
Shinhan Financial Grp ADR	COM	824596100	316	9,400	SH		SOLE		9,400	0	0
Ship Finance Intl Ltd	COM	g81075106	1,155	69,700	SH		SOLE		69,700	0	0
Simon Property Group, Inc.	COM	828806109	2,582	13,277	SH		SOLE		13,277	0	0
Singapore Telecom-SP ADR	COM	82929R304	870	33,630	SH		SOLE		33,630	0	0
Sony Corp. ADR	COM	835699307	623	25,300	SH		SOLE		25,300	0	0
Southern Co.	COM	842587107	598	12,774	SH		SOLE		12,774	0	0
Spectra Energy Corp	COM	847560109	1,895	79,150	SH		SOLE		79,150	0	0
Spectra Energy Partners LP	COM	84756n109	961	20,150	SH		SOLE		20,150	0	0
Starbucks Corp.	COM	855244109	6,645	110,700	SH		SOLE		110,700	0	0
Starwood Hotels & Resorts Inc.	COM	85590A401	6,762	97,600	SH		SOLE		97,600	0	0
State Street Corp.	COM	857477103	7,271	109,575	SH		SOLE		109,575	0	0
Statoil ASA ADR	COM	85771P102	241	17,242	SH		SOLE		17,242	0	0
Subsea 7 Sa ADR	COM	864323100	170	23,900	SH		SOLE		23,900	0	0
Superior Energy Services Inc.	COM	868157108	1,352	100,350	SH		SOLE		100,350	0	0
Swisscom AG ADR	COM	871013108	382	7,600	SH		SOLE		7,600	0	0
Syngenta AG ADR	COM	87160a100	681	8,650	SH		SOLE		8,650	0	0
Synopsys Inc.	COM	871607107	771	16,900	SH		SOLE		16,900	0	0
Syntel, Inc.	COM	87162H103	532	11,750	SH		SOLE		11,750	0	0
Taiwan Semiconductor Manufactu	COM	874039100	1,328	58,386	SH		SOLE		58,386	0	0
Target Corp.	COM	87612e106	12,022	165,575	SH		SOLE		165,575	0	0
Taro Pharmaceutical Indus	COM	m8737e108	321	2,075	SH		SOLE		2,075	0	0
TDK Corp. ADR	COM	872351408	254	3,900	SH		SOLE		3,900	0	0
Telecom Italia ADR	COM	87927y102	239	18,880	SH		SOLE		18,880	0	0
Telefonica SA ADR	COM	879382208	542	49,018	SH		SOLE		49,018	0	0
Telenor ASA ADR	COM	87944W105	452	9,000	SH		SOLE		9,000	0	0
Tessera Technologies Inc.	COM	88164L100	4,369	145,600	SH		SOLE		145,600	0	0
Teva Pharmaceutical Industries	COM	881624209	1,072	16,325	SH		SOLE		16,325	0	0
Texas Instruments	COM	882508104	5,764	105,167	SH		SOLE		105,167	0	0
The Travelers Companies, Inc.	COM	89417E109	18,142	160,751	SH		SOLE		160,751	0	0
Thermo Fisher Scientific Inc	COM	883556102	9,355	65,950	SH		SOLE		65,950	0	0
Tiffany & Co.	COM	886547108	3,385	44,375	SH		SOLE		44,375	0	0
Timken Co	COM	887389104	446	15,600	SH		SOLE		15,600	0	0
Tokio Marine Holdings Inc ADR	COM	889094108	950	24,250	SH		SOLE		24,250	0	0
Total SA ADR	COM	89151e109	1,546	34,400	SH		SOLE		34,400	0	0
Toyota Motor Corp. ADR	COM	892331307	4,405	35,800	SH		SOLE		35,800	0	0
Transcanada Pipelines Ltd	COM	89353d107	1,260	38,650	SH		SOLE		38,650	0	0
Tupperware Brands Corp	COM	899896104	1,814	32,600	SH		SOLE		32,600	0	0
Twenty First Century Fox Inc	COM	90130a101	3,379	124,425	SH		SOLE		124,425	0	0
Two Harbors Investment Corp	COM	90187b101	826	102,000	SH		SOLE		102,000	0	0
U.S. Bancorp	COM	902973304	11,778	276,017	SH		SOLE		276,017	0	0
UBS Group AG	COM	h42097107	525	27,120	SH		SOLE		27,120	0	0
Unilever PLC ADR	COM	904767704	1,580	36,640	SH		SOLE		36,640	0	0
Union Pacific	COM	907818108	4,543	58,100	SH		SOLE		58,100	0	0
United Health Group Inc.	COM	91324P102	13,937	118,475	SH		SOLE		118,475	0	0
United Parcel Services Cl B	COM	911312106	9,917	103,050	SH		SOLE		103,050	0	0
United Technologies	COM	913017109	9,790	101,900	SH		SOLE		101,900	0	0
Verizon Communications Inc	COM	92343v104	14,064	304,290	SH		SOLE		304,290	0	0
Visa Inc	COM	92826c839	5,884	75,868	SH		SOLE		75,868	0	0
Vodafone Group PLC ADR	COM	92857w308	912	28,265	SH		SOLE		28,265	0	0
Volvo AB ADR	COM	928856400	205	21,875	SH		SOLE		21,875	0	0
Vulcan Materials	COM	929160109	2,555	26,900	SH		SOLE		26,900	0	0
Waddell & Reed Financial, Inc.	COM	930059100	516	18,000	SH		SOLE		18,000	0	0
Wal-Mart	COM	931142103	9,955	162,400	SH		SOLE		162,400	0	0
Walgreens Boots Alliance Inc	COM	931427108	8,965	105,275	SH		SOLE		105,275	0	0
Walt Disney Co.	COM	254687106	28,466	270,900	SH		SOLE		270,900	0	0
Weingarten Realty Investors	COM	948741103	3,276	94,735	SH		SOLE		94,735	0	0
Wells Fargo Co.	COM	949746101	19,537	359,393	SH		SOLE		359,393	0	0
Welltower Inc	COM	95040q104	1,997	29,350	SH		SOLE		29,350	0	0
Western Gas Partners	COM	958254104	473	9,950	SH		SOLE		9,950	0	0
Westpac Banking Corp. Ltd ADR	COM	961214301	3,683	152,000	SH		SOLE		152,000	0	0
Williams Cos.	COM	969457100	1,714	66,700	SH		SOLE		66,700	0	0
Windstream Holdings Inc	COM	97382a200	468	72,618	SH		SOLE		72,618	0	0
WNS Holdings LTD	COM	92932m101	3,592	115,175	SH		SOLE		115,175	0	0
WPP PLC ADR	COM	92937a102	677	5,900	SH		SOLE		5,900	0	0
Wright Medical Group NV	COM	n96617118	499	20,650	SH		SOLE		20,650	0	0
Zoetis	COM	98978v103	4,125	86,075	SH		SOLE		86,075	0	0
Wisdomtree Emerging Markets Hi	COM	97717w315	4,992	157,775	SH		SOLE		157,775	0	0