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	773	34,350	SH		SOLE		34,350	0	0
Abbott Labs	COM	002824100	5,907	139,690	SH		SOLE		139,690	0	0
Abbvie Inc	COM	00287y109	10,374	164,490	SH		SOLE		164,490	0	0
Aberdeen Asset Management PLC	COM	00300a104	194	22,925	SH		SOLE		22,925	0	0
Accenture PLC CL A	COM	g1151c101	5,163	42,260	SH		SOLE		42,260	0	0
Activision Blizzard Inc	COM	00507v109	4,158	93,855	SH		SOLE		93,855	0	0
Adobe Systems	COM	00724f101	8,494	78,254	SH		SOLE		78,254	0	0
Aegon NV ADR	COM	007924103	39	10,100	SH		SOLE		10,100	0	0
Air Products & Chemicals, Inc.	COM	009158106	3,947	26,255	SH		SOLE		26,255	0	0
Akamai Technologies Inc.	COM	00971t101	5,543	104,600	SH		SOLE		104,600	0	0
Alcentra Capital Corp	COM	01374t102	615	47,331	SH		SOLE		47,331	0	0
Alibaba Group Holdings	COM	01609w102	7,156	67,640	SH		SOLE		67,640	0	0
Allegheny Technologies Inc.	COM	01741r102	1,616	89,440	SH		SOLE		89,440	0	0
Allergan PLC	COM	g0177j108	5,776	25,080	SH		SOLE		25,080	0	0
AllianceBernstein Holding LP	COM	01881G106	223	9,800	SH		SOLE		9,800	0	0
Allstate Corp	COM	020002101	2,942	42,525	SH		SOLE		42,525	0	0
Ally Financial Inc	COM	02005n100	305	15,675	SH		SOLE		15,675	0	0
Alphabet Inc Class A	COM	02079k305	20,423	25,400	SH		SOLE		25,400	0	0
Alphabet Inc Class C	COM	02079k107	19,795	25,467	SH		SOLE		25,467	0	0
Altria Group, Inc.	COM	02209s103	21,101	333,725	SH		SOLE		333,725	0	0
Amazon.com, Inc.	COM	023135106	15,503	18,515	SH		SOLE		18,515	0	0
Ambev SA ADR	COM	02319v103	708	116,250	SH		SOLE		116,250	0	0
Amdocs Ltd	COM	G02602103	4,693	81,125	SH		SOLE		81,125	0	0
Amedisys Inc.	COM	023436108	298	6,285	SH		SOLE		6,285	0	0
America Movil SA de CV ADR	COM	02364w105	309	27,050	SH		SOLE		27,050	0	0
American Campus Communities	COM	024835100	3,322	65,300	SH		SOLE		65,300	0	0
American Electric Power	COM	025537101	4,181	65,115	SH		SOLE		65,115	0	0
American Express	COM	025816109	8,359	130,525	SH		SOLE		130,525	0	0
American States Water Co	COM	029899101	1,322	33,000	SH		SOLE		33,000	0	0
Anadarko Petroleum Corp.	COM	032511107	5,081	80,200	SH		SOLE		80,200	0	0
Anheuser-Busch	COM	03524a108	10,667	81,170	SH		SOLE		81,170	0	0
Anthem Inc	COM	036752103	8,641	68,960	SH		SOLE		68,960	0	0
Apache Corp	COM	037411105	3,774	59,090	SH		SOLE		59,090	0	0
Apollo Global Management LLC	COM	037612306	865	48,150	SH		SOLE		48,150	0	0
Apple Inc	COM	037833100	50,217	444,205	SH		SOLE		444,205	0	0
Applied Materials Inc.	COM	038222105	528	17,500	SH		SOLE		17,500	0	0
Ares Capital Corp	COM	04010L103	950	61,275	SH		SOLE		61,275	0	0
Arlington Asset Investment Cor	COM	041356205	196	13,228	SH		SOLE		13,228	0	0
Arthur J. Gallagher & Co.	COM	363576109	6,880	135,250	SH		SOLE		135,250	0	0
AstraZeneca Group PLC ADR	COM	046353108	866	26,350	SH		SOLE		26,350	0	0
AT&T Inc.	COM	00206R102	21,870	538,528	SH		SOLE		538,528	0	0
Atmos Energy Corp.	COM	049560105	1,199	16,105	SH		SOLE		16,105	0	0
Aviva PLC ADR	COM	05382a104	216	18,800	SH		SOLE		18,800	0	0
AXA SA ADR	COM	054536107	560	26,300	SH		SOLE		26,300	0	0
Baidu.com	COM	056752108	551	3,025	SH		SOLE		3,025	0	0
Baker Hughes	COM	057224107	636	12,597	SH		SOLE		12,597	0	0
Banco Bilbao Vizcaya Argentari	COM	05946K101	630	105,716	SH		SOLE		105,716	0	0
Banco de Chile ADR	COM	059520106	320	4,751	SH		SOLE		4,751	0	0
Banco Santander Central Hispan	COM	05964h105	258	58,500	SH		SOLE		58,500	0	0
Bank of New York Mellon Corp.	COM	064058100	9,996	250,647	SH		SOLE		250,647	0	0
Barclays PLC ADR	COM	06738e204	301	34,600	SH		SOLE		34,600	0	0
BASF SE ADR	COM	055262505	1,236	14,450	SH		SOLE		14,450	0	0
BB&T Corporation	COM	054937107	3,591	95,190	SH		SOLE		95,190	0	0
Becton Dickinson and Co	COM	075887109	1,274	7,091	SH		SOLE		7,091	0	0
BHP Billiton Ltd. ADR	COM	088606108	779	22,475	SH		SOLE		22,475	0	0
Biomarin Pharmaceutical Inc	COM	09061g101	2,599	28,095	SH		SOLE		28,095	0	0
Blackstone Group LP	COM	09253u108	4,624	181,129	SH		SOLE		181,129	0	0
Block H&R	COM	093671105	5,848	252,615	SH		SOLE		252,615	0	0
Bloomin Brands Inc	COM	094235108	3,195	185,325	SH		SOLE		185,325	0	0
Boeing Company	COM	097023105	17,317	131,450	SH		SOLE		131,450	0	0
Boston Properties Inc	COM	101121101	1,396	10,240	SH		SOLE		10,240	0	0
Boston Scientific	COM	101137107	314	13,200	SH		SOLE		13,200	0	0
BP plc ADR	COM	055622104	2,924	83,150	SH		SOLE		83,150	0	0
British American Tob SP ADR	COM	110448107	1,561	12,225	SH		SOLE		12,225	0	0
Broadcom Ltd	COM	y09827109	5,126	29,713	SH		SOLE		29,713	0	0
BT Group PLC ADR	COM	05577e101	941	37,000	SH		SOLE		37,000	0	0
Cal Maine Foods Inc	COM	128030202	252	6,550	SH		SOLE		6,550	0	0
California Water Service Group	COM	130788102	873	27,200	SH		SOLE		27,200	0	0
Calpine Corp	COM	131347304	2,002	158,375	SH		SOLE		158,375	0	0
Canadian Solar Inc	COM	136635109	1,477	107,495	SH		SOLE		107,495	0	0
Canon Inc. ADR	COM	138006309	716	24,675	SH		SOLE		24,675	0	0
Capital One Financial	COM	14040H105	6,010	83,675	SH		SOLE		83,675	0	0
Carlyle Group	COM	14309l102	575	36,950	SH		SOLE		36,950	0	0
Carrizo Oil & Gas Inc	COM	144577103	3,144	77,410	SH		SOLE		77,410	0	0
Caterpillar Inc.	COM	149123101	4,153	46,785	SH		SOLE		46,785	0	0
CBS Corp.	COM	124857202	6,183	112,960	SH		SOLE		112,960	0	0
Celgene Corp.	COM	151020104	23,012	220,145	SH		SOLE		220,145	0	0
Cemex SAB de CV ADR	COM	151290889	134	16,816	SH		SOLE		16,816	0	0
Charles Schwab Corp.	COM	808513105	8,979	284,400	SH		SOLE		284,400	0	0
Chart Industries Inc	COM	16115q308	2,353	71,680	SH		SOLE		71,680	0	0
Chesapeake Energy Corp	COM	165167107	675	107,650	SH		SOLE		107,650	0	0
Chevron Corp.	COM	166764100	17,450	169,545	SH		SOLE		169,545	0	0
Church & Dwight Co.	COM	171340102	9,227	192,560	SH		SOLE		192,560	0	0
Cincinnati Financial	COM	172062101	1,094	14,500	SH		SOLE		14,500	0	0
Cinemark Holdings Inc.	COM	17243v102	3,124	81,610	SH		SOLE		81,610	0	0
Cisco Systems	COM	17275R102	17,432	549,550	SH		SOLE		549,550	0	0
Citigroup Inc.	COM	172967424	8,995	190,455	SH		SOLE		190,455	0	0
CK Hutchison Holdings Limited	COM	12562y100	1,205	94,694	SH		SOLE		94,694	0	0
CMS Energy Corp.	COM	125896100	6,015	143,185	SH		SOLE		143,185	0	0
Coca-Cola	COM	191216100	1,028	24,300	SH		SOLE		24,300	0	0
Cogent Communications Holding	COM	19239v302	5,016	136,255	SH		SOLE		136,255	0	0
Cognizant Tech Solutions Corp.	COM	192446102	3,542	74,242	SH		SOLE		74,242	0	0
Columbia Sportswear Co	COM	198516106	4,551	80,200	SH		SOLE		80,200	0	0
Comerica, Inc.	COM	200340107	899	19,000	SH		SOLE		19,000	0	0
Communications Sales & Leasing	COM	20341j104	2,655	84,512	SH		SOLE		84,512	0	0
Companhia Vale do Rio Doce ADR	COM	91912e105	78	14,150	SH		SOLE		14,150	0	0
Constellation Brands	COM	21036p108	11,692	70,225	SH		SOLE		70,225	0	0
Continental Resources Inc	COM	212015101	4,591	88,355	SH		SOLE		88,355	0	0
Cooper Tire & Rubber Co.	COM	216831107	836	22,000	SH		SOLE		22,000	0	0
Corning Inc.	COM	219350105	6,202	262,230	SH		SOLE		262,230	0	0
Costco Co.	COM	22160k105	6,454	42,320	SH		SOLE		42,320	0	0
Covanta Holding Corp	COM	22282e102	474	30,825	SH		SOLE		30,825	0	0
Cracker Barrel Old Country Sto	COM	22410j106	1,289	9,750	SH		SOLE		9,750	0	0
Crown Castle International Cor	COM	22822V101	6,394	67,865	SH		SOLE		67,865	0	0
CTRIP.COM International ADR	COM	22943F100	522	11,200	SH		SOLE		11,200	0	0
Cummins Inc	COM	231021106	4,952	38,640	SH		SOLE		38,640	0	0
CVS Health Corp	COM	126650100	12,219	137,304	SH		SOLE		137,304	0	0
Daimler AG ADR	COM	D1668R123	1,144	16,200	SH		SOLE		16,200	0	0
Danaher Corp.	COM	235851102	12,821	163,550	SH		SOLE		163,550	0	0
Danone ADR	COM	23636t100	549	37,000	SH		SOLE		37,000	0	0
Darden Restaurants Inc.	COM	237194105	8,565	139,670	SH		SOLE		139,670	0	0
Davita Inc	COM	23918K108	6,267	94,850	SH		SOLE		94,850	0	0
DCP Midstream Partners LP	COM	23311p100	1,300	36,800	SH		SOLE		36,800	0	0
DDR Corp	COM	23317h102	247	14,186	SH		SOLE		14,186	0	0
Dell Technologies Inc CL V	COM	24703l103	594	12,432	SH		SOLE		12,432	0	0
Deutsche Post AG ADR	COM	25157y202	313	10,000	SH		SOLE		10,000	0	0
Deutsche Telekom AG ADR	COM	251566105	1,021	60,900	SH		SOLE		60,900	0	0
Diageo PLC ADR	COM	25243q205	1,314	11,325	SH		SOLE		11,325	0	0
Diebold Inc	COM	253651103	949	38,300	SH		SOLE		38,300	0	0
Digital Realty	COM	253868103	2,214	22,800	SH		SOLE		22,800	0	0
Dollar General	COM	256677105	5,060	72,300	SH		SOLE		72,300	0	0
Dominion Diamond Corp	COM	257287102	441	45,325	SH		SOLE		45,325	0	0
Dominion Resources	COM	25746u109	4,131	55,625	SH		SOLE		55,625	0	0
Donnelley (R.R.) & Sons	COM	257867200	423	26,900	SH		SOLE		26,900	0	0
Dr. Pepper Snapple Group, Inc	COM	26138e109	504	5,520	SH		SOLE		5,520	0	0
Du Pont (E.I.) De Nemours & Co	COM	263534109	7,986	119,249	SH		SOLE		119,249	0	0
Duke Energy Corp.	COM	26441C204	7,586	94,781	SH		SOLE		94,781	0	0
Duke Realty Corp.	COM	264411505	2,042	74,700	SH		SOLE		74,700	0	0
Eagle Materials Inc	COM	26969P108	3,360	43,465	SH		SOLE		43,465	0	0
Edison Int'l	COM	281020107	2,820	39,025	SH		SOLE		39,025	0	0
Enable Midstream Partners LP	COM	292480100	738	48,400	SH		SOLE		48,400	0	0
Enbridge Energy Partners LP	COM	29250r106	2,531	99,540	SH		SOLE		99,540	0	0
Endo International PLC	COM	G30401106	2,557	126,880	SH		SOLE		126,880	0	0
ENI SPA ADR	COM	26874r108	649	22,475	SH		SOLE		22,475	0	0
Enterprise Products Partners L	COM	293792107	2,304	83,400	SH		SOLE		83,400	0	0
EOG Resources	COM	26875p101	8,438	87,250	SH		SOLE		87,250	0	0
EPR Properties	COM	26884u109	3,550	45,080	SH		SOLE		45,080	0	0
Equity Residential Properties	COM	29476l107	3,290	51,150	SH		SOLE		51,150	0	0
Ericsson ADR	COM	294821608	672	93,200	SH		SOLE		93,200	0	0
Essex Property Trust Inc	COM	297178105	4,454	20,000	SH		SOLE		20,000	0	0
Ethan Allen Interiors Inc.	COM	297602104	238	7,600	SH		SOLE		7,600	0	0
Exact Sciences Corp	COM	30063P105	3,066	165,120	SH		SOLE		165,120	0	0
Expedia Inc	COM	30212p303	4,139	35,460	SH		SOLE		35,460	0	0
Express	COM	30219e103	1,343	113,875	SH		SOLE		113,875	0	0
Express Scripts Holding Compan	COM	30219g108	5,431	77,000	SH		SOLE		77,000	0	0
Exxon Mobil Corp.	COM	30231g102	28,657	328,329	SH		SOLE		328,329	0	0
F5 Networks Inc.	COM	315616102	4,286	34,385	SH		SOLE		34,385	0	0
Facebook Inc	COM	30303M102	19,067	148,651	SH		SOLE		148,651	0	0
Fedex Corp.	COM	31428x106	5,619	32,165	SH		SOLE		32,165	0	0
Fifth Street Finance Corp	COM	31678a103	600	103,250	SH		SOLE		103,250	0	0
Fifth Third Bancorp	COM	316773100	3,679	179,810	SH		SOLE		179,810	0	0
Flowserve Corp.	COM	34354P105	5,937	123,075	SH		SOLE		123,075	0	0
FMC Technologies Inc	COM	30249U101	2,316	78,070	SH		SOLE		78,070	0	0
Fomento Economico Mexicana-SP	COM	344419106	658	7,150	SH		SOLE		7,150	0	0
Ford Motor Co.	COM	345370860	3,448	285,695	SH		SOLE		285,695	0	0
Fortive Corp	COM	34959j108	4,162	81,775	SH		SOLE		81,775	0	0
Four Corners Property Trust In	COM	35086t109	1,315	61,647	SH		SOLE		61,647	0	0
Freeport-McMoRan Inc	COM	35671d857	1,403	129,235	SH		SOLE		129,235	0	0
Frontier Communications Corp	COM	35906a108	2,013	483,823	SH		SOLE		483,823	0	0
G-III Apparel Group LTD	COM	36237h101	1,687	57,875	SH		SOLE		57,875	0	0
GameStop Corp.	COM	36467w109	510	18,500	SH		SOLE		18,500	0	0
Garmin Ltd	COM	H2906T109	938	19,500	SH		SOLE		19,500	0	0
General Electric Co.	COM	369604103	25,973	876,875	SH		SOLE		876,875	0	0
General Growth Properties	COM	370023103	502	18,176	SH		SOLE		18,176	0	0
General Motors Inc	COM	37045v100	3,522	110,870	SH		SOLE		110,870	0	0
Genuine Parts Co.	COM	372460105	2,983	29,700	SH		SOLE		29,700	0	0
Gilead Science Inc	COM	375558103	18,389	232,416	SH		SOLE		232,416	0	0
GlaxoSmithKline plc ADR	COM	37733W105	1,421	32,950	SH		SOLE		32,950	0	0
Goldman Sachs Group	COM	38141g104	9,499	58,900	SH		SOLE		58,900	0	0
Grifols SA ADR	COM	398438408	346	21,650	SH		SOLE		21,650	0	0
Grupo Televisa SA ADR	COM	40049j206	281	10,925	SH		SOLE		10,925	0	0
Halliburton Co.	COM	406216101	6,753	150,470	SH		SOLE		150,470	0	0
Harman International Industrie	COM	413086109	811	9,600	SH		SOLE		9,600	0	0
HCP Inc	COM	40414L109	2,313	60,940	SH		SOLE		60,940	0	0
Hellenic Telecom Organization	COM	423325307	176	40,100	SH		SOLE		40,100	0	0
Hess Corporation	COM	42809h107	2,934	54,725	SH		SOLE		54,725	0	0
Hitachi Ltd. ADR	COM	433578507	440	9,500	SH		SOLE		9,500	0	0
Hologic Inc	COM	436440101	777	20,000	SH		SOLE		20,000	0	0
Home Depot, Inc.	COM	437076102	24,367	189,360	SH		SOLE		189,360	0	0
Honda Motor Co Ltd. ADR	COM	438128308	1,507	52,100	SH		SOLE		52,100	0	0
Honeywell International, Inc.	COM	438516106	13,663	117,190	SH		SOLE		117,190	0	0
Horizon Pharma Plc	COM	g4617b105	2,766	152,550	SH		SOLE		152,550	0	0
Host Hotels & Resorts Inc.	COM	44107P104	7,084	455,005	SH		SOLE		455,005	0	0
HSBC Holdings ADR	COM	404280406	538	14,300	SH		SOLE		14,300	0	0
Hunt (J.B.) Transport	COM	445658107	1,241	15,300	SH		SOLE		15,300	0	0
Icon PLC ADR	COM	G4705A100	573	7,400	SH		SOLE		7,400	0	0
Imperva Inc	COM	45321L100	2,877	53,570	SH		SOLE		53,570	0	0
Infineon Technologies ADR	COM	45662n103	657	36,825	SH		SOLE		36,825	0	0
Infosys Ltd ADR	COM	456788108	2,455	155,600	SH		SOLE		155,600	0	0
Ing Groep NV ADR	COM	456837103	194	15,700	SH		SOLE		15,700	0	0
Ingenico Group	COM	45684w107	323	18,475	SH		SOLE		18,475	0	0
Intel Corp.	COM	458140100	14,074	372,830	SH		SOLE		372,830	0	0
International Business Machine	COM	459200101	5,149	32,412	SH		SOLE		32,412	0	0
Intesa Sanpaolo ADR	COM	46115h107	145	10,899	SH		SOLE		10,899	0	0
Invesco Ltd	COM	g491bt108	6,020	192,515	SH		SOLE		192,515	0	0
Iron Mountain Inc.	COM	46284V101	8,027	213,885	SH		SOLE		213,885	0	0
Itau Unibanco Holding SA ADR	COM	465562106	330	30,189	SH		SOLE		30,189	0	0
Johnson & Johnson	COM	478160104	26,724	226,225	SH		SOLE		226,225	0	0
Johnson Controls Interanationa	COM	g51502105	5,489	117,976	SH		SOLE		117,976	0	0
Joy Global Inc.	COM	481165108	1,065	38,390	SH		SOLE		38,390	0	0
JPMorgan Chase & Co.	COM	46625h100	22,698	340,857	SH		SOLE		340,857	0	0
Kamada Ltd ADR	COM	m6240t109	91	17,750	SH		SOLE		17,750	0	0
Kasikornbank PCL ADR	COM	485785109	280	12,954	SH		SOLE		12,954	0	0
KB Financial Group Inc ADR	COM	48241a105	228	6,675	SH		SOLE		6,675	0	0
Kellogg Co.	COM	487836108	2,837	36,620	SH		SOLE		36,620	0	0
Kennametal Inc.	COM	489170100	473	16,300	SH		SOLE		16,300	0	0
Kimco Realty Corp.	COM	49446r109	2,446	84,475	SH		SOLE		84,475	0	0
Kinder Morgan Inc.	COM	49456b101	3,231	139,702	SH		SOLE		139,702	0	0
Kingfisher PLC ADR	COM	495724403	255	26,000	SH		SOLE		26,000	0	0
Kirin Holdings Co ADR	COM	497350306	550	33,300	SH		SOLE		33,300	0	0
KKR & Co LP	COM	48248m102	732	51,300	SH		SOLE		51,300	0	0
Koninklijke Ahold Delhaize NV	COM	500467501	341	14,953	SH		SOLE		14,953	0	0
Koninklijke KPN NV ADR	COM	780641205	50	15,000	SH		SOLE		15,000	0	0
Koninklijke Philips NV ADR	COM	500472303	252	8,500	SH		SOLE		8,500	0	0
Kraft Heinz Co The	COM	500754106	580	6,475	SH		SOLE		6,475	0	0
Kubota Corp-Spon ADR	COM	501173207	364	4,875	SH		SOLE		4,875	0	0
L Brands Inc	COM	501797104	7,529	106,390	SH		SOLE		106,390	0	0
Lamar Advertising Co	COM	512816109	1,339	20,500	SH		SOLE		20,500	0	0
Leggett & Platt	COM	524660107	1,550	34,000	SH		SOLE		34,000	0	0
Lexington Realty Trust	COM	529043101	335	32,562	SH		SOLE		32,562	0	0
Liberty Property Trust	COM	531172104	2,423	60,040	SH		SOLE		60,040	0	0
Lilly (Eli) & Co.	COM	532457108	14,316	178,370	SH		SOLE		178,370	0	0
Logitech International SA ADR	COM	H50430232	944	42,020	SH		SOLE		42,020	0	0
Lowe's Co.	COM	548661107	17,357	240,370	SH		SOLE		240,370	0	0
Luxottica Group SPA ADR	COM	55068r202	344	7,200	SH		SOLE		7,200	0	0
Lyondellbassel Industries N.V.	COM	N53745100	2,988	37,050	SH		SOLE		37,050	0	0
Macerich Co.	COM	554382101	1,752	21,659	SH		SOLE		21,659	0	0
Mack-Cali Realty Corp.	COM	554489104	708	26,000	SH		SOLE		26,000	0	0
Mallinckrodt PLC	COM	g5785g107	695	9,957	SH		SOLE		9,957	0	0
Marriott International	COM	571903202	5,069	75,280	SH		SOLE		75,280	0	0
Marsh & McLennan Companies, In	COM	571748102	16,917	251,560	SH		SOLE		251,560	0	0
Mattel Inc.	COM	577081102	5,528	182,570	SH		SOLE		182,570	0	0
Maxim Integrated Products, Inc	COM	57772k101	6,076	152,175	SH		SOLE		152,175	0	0
McCormick & Co.	COM	579780206	8,771	87,785	SH		SOLE		87,785	0	0
McDonald's Corp.	COM	580135101	10,171	88,165	SH		SOLE		88,165	0	0
Mckesson HBOC Inc.	COM	58155q103	2,396	14,370	SH		SOLE		14,370	0	0
Medtronic Inc	COM	g5960l103	6,637	76,813	SH		SOLE		76,813	0	0
Mercadolibre Inc ADR	COM	58733r102	1,068	5,775	SH		SOLE		5,775	0	0
Merck & Co., Inc.	COM	58933y105	16,095	257,890	SH		SOLE		257,890	0	0
Metlife Inc	COM	59156R108	6,835	153,835	SH		SOLE		153,835	0	0
Michael Kors Holdings	COM	G60754101	1,521	32,505	SH		SOLE		32,505	0	0
Micron Technology Inc.	COM	595112103	1,734	97,505	SH		SOLE		97,505	0	0
Microsoft Corp	COM	594918104	38,735	672,491	SH		SOLE		672,491	0	0
Minerals Technologies Inc	COM	603158106	3,643	51,540	SH		SOLE		51,540	0	0
Mitsubishi UFJ Financial Group	COM	606822104	1,245	246,550	SH		SOLE		246,550	0	0
Mitsui & Co Ltd-Spons ADR	COM	606827202	391	1,425	SH		SOLE		1,425	0	0
Mohawk Industries Inc.	COM	608190104	3,645	18,195	SH		SOLE		18,195	0	0
Molson Coors Brewing Company	COM	60871r209	10,390	94,630	SH		SOLE		94,630	0	0
Mondelez International Inc	COM	609207105	853	19,427	SH		SOLE		19,427	0	0
Monsanto Co.	COM	61166w101	4,777	46,740	SH		SOLE		46,740	0	0
Morgan Stanley, Dean Witter, D	COM	617446448	6,473	201,900	SH		SOLE		201,900	0	0
MRC Global Inc	COM	55345k103	2,495	151,850	SH		SOLE		151,850	0	0
Mylan NV	COM	n59465109	7,831	205,425	SH		SOLE		205,425	0	0
National Fuel Gas Co.	COM	636180101	487	9,000	SH		SOLE		9,000	0	0
National Oilwell Varco Inc	COM	637071101	2,671	72,705	SH		SOLE		72,705	0	0
Netflix Inc	COM	64110l106	2,701	27,405	SH		SOLE		27,405	0	0
New York Community Bancorp	COM	649445103	1,890	132,800	SH		SOLE		132,800	0	0
Newell Brands Inc	COM	651229106	316	6,000	SH		SOLE		6,000	0	0
NextEra Energy Inc	COM	65339f101	5,098	41,681	SH		SOLE		41,681	0	0
NICE Ltd ADR	COM	653656108	465	6,950	SH		SOLE		6,950	0	0
Nippon Telegraph & Telephone C	COM	654624105	2,879	62,850	SH		SOLE		62,850	0	0
Nisource Inc.	COM	65473P105	4,179	173,330	SH		SOLE		173,330	0	0
Norsk Hydro ASA ADR	COM	656531605	86	20,000	SH		SOLE		20,000	0	0
Northrop Grumman Corp.	COM	666807102	10,673	49,885	SH		SOLE		49,885	0	0
Novartis ADR	COM	66987v109	2,653	33,600	SH		SOLE		33,600	0	0
Novo Nordisk ADR	COM	670100205	2,579	62,000	SH		SOLE		62,000	0	0
NRG Energy, Inc.	COM	629377508	1,104	98,485	SH		SOLE		98,485	0	0
Occidental Petroleum	COM	674599105	5,676	77,840	SH		SOLE		77,840	0	0
Omega Healthcare Investors	COM	681936100	570	16,075	SH		SOLE		16,075	0	0
Oracle Corp.	COM	68389x105	9,957	253,484	SH		SOLE		253,484	0	0
Orange SA ADR	COM	684060106	514	33,000	SH		SOLE		33,000	0	0
Outfront Media Inc	COM	69007j106	526	22,225	SH		SOLE		22,225	0	0
Owens-Illinois Inc	COM	690768403	684	37,180	SH		SOLE		37,180	0	0
Pacwest Bancorp	COM	695263103	430	10,025	SH		SOLE		10,025	0	0
Palo Alto Networks Inc	COM	697435105	2,842	17,840	SH		SOLE		17,840	0	0
Panasonic Corp ADR	COM	69832a205	615	62,200	SH		SOLE		62,200	0	0
Park National	COM	700658107	259	2,700	SH		SOLE		2,700	0	0
Parker Hannifin	COM	701094104	1,054	8,400	SH		SOLE		8,400	0	0
Pattern Energy Group Inc	COM	70338p100	545	24,225	SH		SOLE		24,225	0	0
PepsiCo, Inc.	COM	713448108	13,802	126,890	SH		SOLE		126,890	0	0
Petroleo Brasileiro SA ADR	COM	71654v408	153	16,400	SH		SOLE		16,400	0	0
Pfizer, Inc.	COM	717081103	18,739	553,264	SH		SOLE		553,264	0	0
Philip Morris International In	COM	718172109	3,671	37,760	SH		SOLE		37,760	0	0
Pinnacle West Capital	COM	723484101	970	12,770	SH		SOLE		12,770	0	0
Pitney Bowes Inc.	COM	724479100	363	20,000	SH		SOLE		20,000	0	0
Plains All American Pipeline L	COM	726503105	1,785	56,815	SH		SOLE		56,815	0	0
PNC Financial Services Group	COM	693475105	13,913	154,434	SH		SOLE		154,434	0	0
Polaris Industries	COM	731068102	1,084	14,000	SH		SOLE		14,000	0	0
Potash Corp of Saskatchewan In	COM	73755L107	411	25,200	SH		SOLE		25,200	0	0
PPG Industries, Inc.	COM	693506107	997	9,650	SH		SOLE		9,650	0	0
PPL Corp.	COM	69351t106	2,500	72,330	SH		SOLE		72,330	0	0
Prada SPA ADR	COM	73942h100	199	31,100	SH		SOLE		31,100	0	0
Principal Financial Group	COM	74251V102	10,584	205,480	SH		SOLE		205,480	0	0
Procter & Gamble, Inc.	COM	742718109	24,892	277,350	SH		SOLE		277,350	0	0
Prologis Trust	COM	74340w103	7,755	144,845	SH		SOLE		144,845	0	0
Prospect Capital Corp	COM	74348t102	760	93,825	SH		SOLE		93,825	0	0
Prudential Financial, Inc.	COM	744320102	14,585	178,625	SH		SOLE		178,625	0	0
PTC Inc	COM	69370c100	2,577	58,164	SH		SOLE		58,164	0	0
Public Service Enterprise Grou	COM	744573106	1,616	38,600	SH		SOLE		38,600	0	0
Qualcomm Inc.	COM	747525103	6,746	98,483	SH		SOLE		98,483	0	0
Quest Diagnostics Inc	COM	74834L100	918	10,850	SH		SOLE		10,850	0	0
Red Hat Inc.	COM	756577102	3,489	43,160	SH		SOLE		43,160	0	0
Regal Entertainment Group - A	COM	758766109	3,875	178,150	SH		SOLE		178,150	0	0
Regions Financial Corp.	COM	7591EP100	184	18,610	SH		SOLE		18,610	0	0
Repsol SA ADR	COM	76026T205	159	11,700	SH		SOLE		11,700	0	0
Rexnord Corp	COM	76169b102	2,691	125,710	SH		SOLE		125,710	0	0
Reynolds American Inc	COM	761713106	4,741	100,548	SH		SOLE		100,548	0	0
RingCentral Inc	COM	76680r206	2,706	114,360	SH		SOLE		114,360	0	0
Rio Tinto Plc ADR	COM	767204100	488	14,600	SH		SOLE		14,600	0	0
Roche Holdings Ltd-Spons ADR	COM	771195104	911	29,300	SH		SOLE		29,300	0	0
Rockwell Collins Inc.	COM	774341101	7,893	93,580	SH		SOLE		93,580	0	0
Royal Dutch Shell PLC ADR	COM	780259206	2,000	39,950	SH		SOLE		39,950	0	0
Ryder System, Inc.	COM	783549108	554	8,400	SH		SOLE		8,400	0	0
Salesforce.com Inc	COM	79466L302	4,516	63,314	SH		SOLE		63,314	0	0
Sanofi ADR	COM	80105n105	1,505	39,400	SH		SOLE		39,400	0	0
Santos Limited ADR	COM	803021708	124	44,800	SH		SOLE		44,800	0	0
SAP SE	COM	803054204	1,901	20,800	SH		SOLE		20,800	0	0
Scana Corp	COM	80589M102	1,617	22,346	SH		SOLE		22,346	0	0
Schlumberger Ltd.	COM	806857108	14,707	187,015	SH		SOLE		187,015	0	0
Schneider Electric SE ADR	COM	80687p106	290	20,775	SH		SOLE		20,775	0	0
Sealed Air Corp.	COM	81211k100	3,724	81,285	SH		SOLE		81,285	0	0
Sensata Technologies Holding A	COM	N7902X106	480	12,375	SH		SOLE		12,375	0	0
Servicenow Inc	COM	81762p102	2,269	28,671	SH		SOLE		28,671	0	0
Shinhan Financial Grp ADR	COM	824596100	343	9,400	SH		SOLE		9,400	0	0
Ship Finance Intl Ltd	COM	g81075106	1,027	69,700	SH		SOLE		69,700	0	0
Shire PLC	COM	82481r106	1,223	6,307	SH		SOLE		6,307	0	0
Simon Property Group, Inc.	COM	828806109	2,727	13,172	SH		SOLE		13,172	0	0
Singapore Telecom-SP ADR	COM	82929R304	979	33,630	SH		SOLE		33,630	0	0
Sony Corp. ADR	COM	835699307	840	25,300	SH		SOLE		25,300	0	0
Southern Co.	COM	842587107	655	12,774	SH		SOLE		12,774	0	0
Spectra Energy Corp	COM	847560109	3,354	78,460	SH		SOLE		78,460	0	0
Spectra Energy Partners LP	COM	84756n109	880	20,150	SH		SOLE		20,150	0	0
Starbucks Corp.	COM	855244109	5,971	110,290	SH		SOLE		110,290	0	0
Statoil ASA ADR	COM	85771P102	290	17,242	SH		SOLE		17,242	0	0
Subsea 7 Sa ADR	COM	864323100	257	23,900	SH		SOLE		23,900	0	0
Superior Energy Services Inc.	COM	868157108	1,789	99,970	SH		SOLE		99,970	0	0
Swisscom AG ADR	COM	871013108	362	7,600	SH		SOLE		7,600	0	0
Syngenta AG ADR	COM	87160a100	758	8,650	SH		SOLE		8,650	0	0
Synopsys Inc.	COM	871607107	1,003	16,900	SH		SOLE		16,900	0	0
Syntel, Inc.	COM	87162H103	473	11,290	SH		SOLE		11,290	0	0
Taiwan Semiconductor Manufactu	COM	874039100	1,786	58,386	SH		SOLE		58,386	0	0
Target Corp.	COM	87612e106	11,337	165,075	SH		SOLE		165,075	0	0
Taro Pharmaceutical Indus	COM	m8737e108	229	2,075	SH		SOLE		2,075	0	0
TDK Corp. ADR	COM	872351408	258	3,900	SH		SOLE		3,900	0	0
Telecom Italia ADR	COM	87927y102	157	18,880	SH		SOLE		18,880	0	0
Telefonica SA ADR	COM	879382208	494	49,018	SH		SOLE		49,018	0	0
Telenor ASA ADR	COM	87944W105	463	27,000	SH		SOLE		27,000	0	0
Tessera Technologies Inc.	COM	88164L100	5,581	145,190	SH		SOLE		145,190	0	0
Teva Pharmaceutical Industries	COM	881624209	751	16,325	SH		SOLE		16,325	0	0
Texas Instruments	COM	882508104	7,359	104,852	SH		SOLE		104,852	0	0
The Mosaic Co	COM	61945c103	487	19,925	SH		SOLE		19,925	0	0
The Travelers Companies, Inc.	COM	89417E109	18,350	160,191	SH		SOLE		160,191	0	0
Thermo Fisher Scientific Inc	COM	883556102	10,442	65,650	SH		SOLE		65,650	0	0
Tiffany & Co.	COM	886547108	3,211	44,215	SH		SOLE		44,215	0	0
Timken Co	COM	887389104	548	15,600	SH		SOLE		15,600	0	0
Tokio Marine Holdings Inc ADR	COM	889094108	918	24,250	SH		SOLE		24,250	0	0
Total SA ADR	COM	89151e109	1,641	34,400	SH		SOLE		34,400	0	0
Toyota Motor Corp. ADR	COM	892331307	4,155	35,800	SH		SOLE		35,800	0	0
Transcanada Pipelines Ltd	COM	89353d107	1,827	38,405	SH		SOLE		38,405	0	0
Tupperware Brands Corp	COM	899896104	2,598	39,750	SH		SOLE		39,750	0	0
Twenty First Century Fox Inc	COM	90130a101	3,002	123,945	SH		SOLE		123,945	0	0
Two Harbors Investment Corp	COM	90187b101	870	102,000	SH		SOLE		102,000	0	0
U.S. Bancorp	COM	902973304	11,815	275,467	SH		SOLE		275,467	0	0
UBS Group AG	COM	h42097107	369	27,120	SH		SOLE		27,120	0	0
Unilever PLC ADR	COM	904767704	1,737	36,640	SH		SOLE		36,640	0	0
Union Pacific	COM	907818108	5,666	58,100	SH		SOLE		58,100	0	0
United Health Group Inc.	COM	91324P102	16,552	118,225	SH		SOLE		118,225	0	0
United Parcel Services Cl B	COM	911312106	11,231	102,700	SH		SOLE		102,700	0	0
United Technologies	COM	913017109	10,332	101,690	SH		SOLE		101,690	0	0
Verizon Communications Inc	COM	92343v104	15,771	303,410	SH		SOLE		303,410	0	0
Visa Inc	COM	92826c839	6,260	75,698	SH		SOLE		75,698	0	0
Vodafone Group PLC ADR	COM	92857w308	824	28,265	SH		SOLE		28,265	0	0
Vulcan Materials	COM	929160109	3,049	26,810	SH		SOLE		26,810	0	0
Waddell & Reed Financial, Inc.	COM	930059100	327	18,000	SH		SOLE		18,000	0	0
Wal-Mart	COM	931142103	11,678	161,920	SH		SOLE		161,920	0	0
Walgreens Boots Alliance Inc	COM	931427108	8,457	104,905	SH		SOLE		104,905	0	0
Walt Disney Co.	COM	254687106	25,091	270,200	SH		SOLE		270,200	0	0
Weingarten Realty Investors	COM	948741103	3,682	94,465	SH		SOLE		94,465	0	0
Wells Fargo Co.	COM	949746101	15,878	358,593	SH		SOLE		358,593	0	0
Welltower Inc	COM	95040q104	2,182	29,180	SH		SOLE		29,180	0	0
Western Gas Partners	COM	958254104	548	9,950	SH		SOLE		9,950	0	0
Western Refining Inc	COM	959319104	873	32,998	SH		SOLE		32,998	0	0
Westpac Banking Corp. Ltd ADR	COM	961214301	3,456	152,000	SH		SOLE		152,000	0	0
Williams Cos.	COM	969457100	2,050	66,700	SH		SOLE		66,700	0	0
Windstream Holdings Inc	COM	97382a200	708	70,435	SH		SOLE		70,435	0	0
WNS Holdings LTD	COM	92932m101	3,449	115,175	SH		SOLE		115,175	0	0
WPP PLC ADR	COM	92937a102	695	5,900	SH		SOLE		5,900	0	0
Wright Medical Group NV	COM	n96617118	507	20,650	SH		SOLE		20,650	0	0
Zoetis	COM	98978v103	4,462	85,795	SH		SOLE		85,795	0	0
Wisdomtree Emerging Markets Hi	COM	97717w315	5,928	157,775	SH		SOLE		157,775	0	0