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
8x8 Inc	COM	282914100	3,810	261,850	SH		SOLE		261,850	0	0
ABB Ltd-Spon ADR	COM	000375204	855	34,350	SH		SOLE		34,350	0	0
Abbott Labs	COM	002824100	6,790	139,690	SH		SOLE		139,690	0	0
Abbvie Inc	COM	00287y109	11,927	164,490	SH		SOLE		164,490	0	0
Accenture PLC CL A	COM	g1151c101	5,227	42,260	SH		SOLE		42,260	0	0
Activision Blizzard Inc	COM	00507v109	5,403	93,855	SH		SOLE		93,855	0	0
Adobe Systems	COM	00724f101	11,068	78,254	SH		SOLE		78,254	0	0
Agrium Inc	COM	008916108	3,570	39,450	SH		SOLE		39,450	0	0
Air Products & Chemicals, Inc.	COM	009158106	3,756	26,255	SH		SOLE		26,255	0	0
Akamai Technologies Inc.	COM	00971t101	5,011	100,600	SH		SOLE		100,600	0	0
Alcentra Capital Corp	COM	01374t102	643	47,331	SH		SOLE		47,331	0	0
Alibaba Group Holdings	COM	01609w102	5,785	41,060	SH		SOLE		41,060	0	0
Allergan PLC	COM	g0177j108	6,097	25,080	SH		SOLE		25,080	0	0
Allstate Corp	COM	020002101	3,531	39,925	SH		SOLE		39,925	0	0
Ally Financial Inc	COM	02005n100	328	15,675	SH		SOLE		15,675	0	0
Alphabet Inc Class A	COM	02079k305	23,614	25,400	SH		SOLE		25,400	0	0
Alphabet Inc Class C	COM	02079k107	23,143	25,467	SH		SOLE		25,467	0	0
Altria Group, Inc.	COM	02209s103	24,033	322,725	SH		SOLE		322,725	0	0
Amazon.com, Inc.	COM	023135106	17,923	18,515	SH		SOLE		18,515	0	0
Ambev SA ADR	COM	02319v103	638	116,250	SH		SOLE		116,250	0	0
Amdocs Ltd	COM	G02602103	917	14,225	SH		SOLE		14,225	0	0
America Movil SA de CV ADR	COM	02364w105	431	27,050	SH		SOLE		27,050	0	0
American Campus Communities	COM	024835100	3,089	65,300	SH		SOLE		65,300	0	0
American Electric Power	COM	025537101	4,524	65,115	SH		SOLE		65,115	0	0
American Express	COM	025816109	10,995	130,525	SH		SOLE		130,525	0	0
American States Water Co	COM	029899101	1,565	33,000	SH		SOLE		33,000	0	0
Anadarko Petroleum Corp.	COM	032511107	3,636	80,200	SH		SOLE		80,200	0	0
Anheuser-Busch	COM	03524a108	8,958	81,170	SH		SOLE		81,170	0	0
Anthem Inc	COM	036752103	12,973	68,960	SH		SOLE		68,960	0	0
Apache Corp	COM	037411105	2,832	59,090	SH		SOLE		59,090	0	0
Apollo Global Management LLC	COM	037612306	772	29,200	SH		SOLE		29,200	0	0
Apple Inc	COM	037833100	63,974	444,205	SH		SOLE		444,205	0	0
Ares Capital Corp	COM	04010L103	265	16,200	SH		SOLE		16,200	0	0
Arthur J. Gallagher & Co.	COM	363576109	7,743	135,250	SH		SOLE		135,250	0	0
AstraZeneca Group PLC ADR	COM	046353108	898	26,350	SH		SOLE		26,350	0	0
AT&T Inc.	COM	00206R102	20,319	538,528	SH		SOLE		538,528	0	0
Atmos Energy Corp.	COM	049560105	1,143	13,781	SH		SOLE		13,781	0	0
AXA SA ADR	COM	054536107	718	26,300	SH		SOLE		26,300	0	0
Baidu.com	COM	056752108	541	3,025	SH		SOLE		3,025	0	0
Baker Hughes	COM	057224107	687	12,597	SH		SOLE		12,597	0	0
Banco Bilbao Vizcaya Argentari	COM	05946K101	884	105,716	SH		SOLE		105,716	0	0
Banco de Chile ADR	COM	059520106	370	4,751	SH		SOLE		4,751	0	0
Banco Santander Central Hispan	COM	05964h105	391	58,500	SH		SOLE		58,500	0	0
Bank of New York Mellon Corp.	COM	064058100	12,788	250,647	SH		SOLE		250,647	0	0
Barclays PLC ADR	COM	06738e204	366	34,600	SH		SOLE		34,600	0	0
BASF SE ADR	COM	055262505	1,336	14,450	SH		SOLE		14,450	0	0
BB&T Corporation	COM	054937107	4,323	95,190	SH		SOLE		95,190	0	0
Becton Dickinson and Co	COM	075887109	1,384	7,091	SH		SOLE		7,091	0	0
BHP Billiton Ltd. ADR	COM	088606108	800	22,475	SH		SOLE		22,475	0	0
Biomarin Pharmaceutical Inc	COM	09061g101	2,552	28,095	SH		SOLE		28,095	0	0
Blackstone Group LP	COM	09253u108	6,041	181,129	SH		SOLE		181,129	0	0
Bloomin Brands Inc	COM	094235108	3,934	185,325	SH		SOLE		185,325	0	0
Boeing Company	COM	097023105	25,994	131,450	SH		SOLE		131,450	0	0
Boston Properties Inc	COM	101121101	1,051	8,540	SH		SOLE		8,540	0	0
BP plc ADR	COM	055622104	2,881	83,150	SH		SOLE		83,150	0	0
British American Tob SP ADR	COM	110448107	1,676	24,450	SH		SOLE		24,450	0	0
Broadcom Ltd	COM	y09827109	6,925	29,713	SH		SOLE		29,713	0	0
Cal Maine Foods Inc	COM	128030202	259	6,550	SH		SOLE		6,550	0	0
Calpine Corp	COM	131347304	201	14,850	SH		SOLE		14,850	0	0
Canadian Solar Inc	COM	136635109	212	13,325	SH		SOLE		13,325	0	0
Capital One Financial	COM	14040H105	6,913	83,675	SH		SOLE		83,675	0	0
Care Capital Properties Inc	COM	141624106	702	26,275	SH		SOLE		26,275	0	0
Carrizo Oil & Gas Inc	COM	144577103	1,348	77,410	SH		SOLE		77,410	0	0
Caterpillar Inc.	COM	149123101	5,028	46,785	SH		SOLE		46,785	0	0
CBS Corp.	COM	124857202	7,205	112,960	SH		SOLE		112,960	0	0
Celgene Corp.	COM	151020104	28,590	220,145	SH		SOLE		220,145	0	0
Cemex SAB de CV ADR	COM	151290889	165	17,486	SH		SOLE		17,486	0	0
Charles Schwab Corp.	COM	808513105	12,218	284,400	SH		SOLE		284,400	0	0
Chart Industries Inc	COM	16115q308	2,489	71,680	SH		SOLE		71,680	0	0
Chesapeake Energy Corp	COM	165167107	57	11,400	SH		SOLE		11,400	0	0
Chevron Corp.	COM	166764100	17,689	169,545	SH		SOLE		169,545	0	0
Church & Dwight Co.	COM	171340102	9,990	192,560	SH		SOLE		192,560	0	0
Cincinnati Financial	COM	172062101	1,051	14,500	SH		SOLE		14,500	0	0
Cinemark Holdings Inc.	COM	17243v102	3,171	81,610	SH		SOLE		81,610	0	0
Cisco Systems	COM	17275R102	17,201	549,550	SH		SOLE		549,550	0	0
Citigroup Inc.	COM	172967424	12,738	190,455	SH		SOLE		190,455	0	0
CK Hutchison Holdings Limited	COM	12562y100	1,186	94,694	SH		SOLE		94,694	0	0
CMS Energy Corp.	COM	125896100	6,622	143,185	SH		SOLE		143,185	0	0
Coca-Cola	COM	191216100	1,090	24,300	SH		SOLE		24,300	0	0
Cogent Communications Holding	COM	19239v302	5,464	136,255	SH		SOLE		136,255	0	0
Cognizant Tech Solutions Corp.	COM	192446102	4,930	74,242	SH		SOLE		74,242	0	0
Columbia Sportswear Co	COM	198516106	4,656	80,200	SH		SOLE		80,200	0	0
Comerica, Inc.	COM	200340107	1,392	19,000	SH		SOLE		19,000	0	0
Constellation Brands	COM	21036p108	13,605	70,225	SH		SOLE		70,225	0	0
Continental Resources Inc	COM	212015101	2,857	88,355	SH		SOLE		88,355	0	0
Cooper Tire & Rubber Co.	COM	216831107	686	19,000	SH		SOLE		19,000	0	0
Corning Inc.	COM	219350105	7,712	256,655	SH		SOLE		256,655	0	0
Costco Co.	COM	22160k105	6,768	42,320	SH		SOLE		42,320	0	0
Covanta Holding Corp	COM	22282e102	407	30,825	SH		SOLE		30,825	0	0
Cracker Barrel Old Country Sto	COM	22410j106	1,631	9,750	SH		SOLE		9,750	0	0
Crown Castle International Cor	COM	22822V101	6,799	67,865	SH		SOLE		67,865	0	0
CTRIP.COM International ADR	COM	22943F100	603	11,200	SH		SOLE		11,200	0	0
Cummins Inc	COM	231021106	6,268	38,640	SH		SOLE		38,640	0	0
CVS Health Corp	COM	126650100	10,440	129,754	SH		SOLE		129,754	0	0
Daimler AG ADR	COM	D1668R123	1,175	16,200	SH		SOLE		16,200	0	0
Danaher Corp.	COM	235851102	13,802	163,550	SH		SOLE		163,550	0	0
Danone ADR	COM	23636t100	555	37,000	SH		SOLE		37,000	0	0
Darden Restaurants Inc.	COM	237194105	12,632	139,670	SH		SOLE		139,670	0	0
Davita Inc	COM	23918K108	6,142	94,850	SH		SOLE		94,850	0	0
DCP Midstream LP	COM	23311p100	1,245	36,800	SH		SOLE		36,800	0	0
DDR Corp	COM	23317h102	129	14,186	SH		SOLE		14,186	0	0
Dell Technologies Inc CL V	COM	24703l103	760	12,432	SH		SOLE		12,432	0	0
Deutsche Post AG ADR	COM	25157y202	374	10,000	SH		SOLE		10,000	0	0
Deutsche Telekom AG ADR	COM	251566105	1,092	60,900	SH		SOLE		60,900	0	0
Diageo PLC ADR	COM	25243q205	1,357	11,325	SH		SOLE		11,325	0	0
Digital Realty	COM	253868103	2,575	22,800	SH		SOLE		22,800	0	0
Dollar General	COM	256677105	5,192	72,025	SH		SOLE		72,025	0	0
Dominion Diamond Corp	COM	257287102	569	45,325	SH		SOLE		45,325	0	0
Dominion Energy Inc	COM	25746u109	4,263	55,625	SH		SOLE		55,625	0	0
Dr. Pepper Snapple Group, Inc	COM	26138e109	503	5,520	SH		SOLE		5,520	0	0
Du Pont (E.I.) De Nemours & Co	COM	263534109	7,176	88,909	SH		SOLE		88,909	0	0
Duke Energy Corp.	COM	26441C204	7,923	94,781	SH		SOLE		94,781	0	0
Duke Realty Corp.	COM	264411505	2,088	74,700	SH		SOLE		74,700	0	0
Eagle Materials Inc	COM	26969P108	4,017	43,465	SH		SOLE		43,465	0	0
Edison Int'l	COM	281020107	3,051	39,025	SH		SOLE		39,025	0	0
Enbridge Energy Partners LP	COM	29250r106	1,593	99,540	SH		SOLE		99,540	0	0
Enbridge Inc	COM	29250n105	3,073	77,202	SH		SOLE		77,202	0	0
Endo International PLC	COM	G30401106	1,417	126,880	SH		SOLE		126,880	0	0
ENI SPA ADR	COM	26874r108	676	22,475	SH		SOLE		22,475	0	0
Enterprise Products Partners L	COM	293792107	2,258	83,400	SH		SOLE		83,400	0	0
EOG Resources	COM	26875p101	7,898	87,250	SH		SOLE		87,250	0	0
EPAM Systems Inc	COM	29414b104	3,591	42,700	SH		SOLE		42,700	0	0
EPR Properties	COM	26884u109	3,240	45,080	SH		SOLE		45,080	0	0
Equity Residential Properties	COM	29476l107	3,367	51,150	SH		SOLE		51,150	0	0
Essex Property Trust Inc	COM	297178105	5,145	20,000	SH		SOLE		20,000	0	0
Ethan Allen Interiors Inc.	COM	297602104	220	6,800	SH		SOLE		6,800	0	0
Exact Sciences Corp	COM	30063P105	5,840	165,120	SH		SOLE		165,120	0	0
Expedia Inc	COM	30212p303	5,282	35,460	SH		SOLE		35,460	0	0
Express	COM	30219e103	95	14,000	SH		SOLE		14,000	0	0
Express Scripts Holding Compan	COM	30219g108	4,916	77,000	SH		SOLE		77,000	0	0
Exxon Mobil Corp.	COM	30231g102	22,621	280,204	SH		SOLE		280,204	0	0
Facebook Inc	COM	30303M102	22,443	148,651	SH		SOLE		148,651	0	0
Fedex Corp.	COM	31428x106	6,990	32,165	SH		SOLE		32,165	0	0
Fifth Street Finance Corp	COM	31678a103	132	27,200	SH		SOLE		27,200	0	0
Fifth Third Bancorp	COM	316773100	4,668	179,810	SH		SOLE		179,810	0	0
Flowserve Corp.	COM	34354P105	5,714	123,075	SH		SOLE		123,075	0	0
Fomento Economico Mexicana-SP	COM	344419106	703	7,150	SH		SOLE		7,150	0	0
Ford Motor Co.	COM	345370860	3,197	285,695	SH		SOLE		285,695	0	0
Fortive Corp	COM	34959j108	5,180	81,775	SH		SOLE		81,775	0	0
Four Corners Property Trust In	COM	35086t109	1,548	61,647	SH		SOLE		61,647	0	0
Freeport-McMoRan Inc	COM	35671d857	162	13,500	SH		SOLE		13,500	0	0
Frontier Communications Corp	COM	35906a306	113	97,362	SH		SOLE		97,362	0	0
GameStop Corp.	COM	36467w109	400	18,500	SH		SOLE		18,500	0	0
General Electric Co.	COM	369604103	23,684	876,875	SH		SOLE		876,875	0	0
General Motors Inc	COM	37045v100	3,873	110,870	SH		SOLE		110,870	0	0
Genuine Parts Co.	COM	372460105	2,755	29,700	SH		SOLE		29,700	0	0
GGP Inc	COM	36174x101	428	18,176	SH		SOLE		18,176	0	0
Gilead Science Inc	COM	375558103	16,231	229,316	SH		SOLE		229,316	0	0
GlaxoSmithKline plc ADR	COM	37733W105	1,421	32,950	SH		SOLE		32,950	0	0
Goldman Sachs Group	COM	38141g104	13,070	58,900	SH		SOLE		58,900	0	0
Grifols SA ADR	COM	398438408	457	21,650	SH		SOLE		21,650	0	0
Grupo Televisa SA ADR	COM	40049j206	266	10,925	SH		SOLE		10,925	0	0
Halliburton Co.	COM	406216101	6,388	149,570	SH		SOLE		149,570	0	0
HCP Inc	COM	40414L109	1,948	60,940	SH		SOLE		60,940	0	0
Hellenic Telecom Organization	COM	423325307	241	40,100	SH		SOLE		40,100	0	0
Hess Corporation	COM	42809h107	2,243	51,125	SH		SOLE		51,125	0	0
Hitachi Ltd. ADR	COM	433578507	583	9,500	SH		SOLE		9,500	0	0
Hologic Inc	COM	436440101	908	20,000	SH		SOLE		20,000	0	0
Home Depot, Inc.	COM	437076102	29,048	189,360	SH		SOLE		189,360	0	0
Honda Motor Co Ltd. ADR	COM	438128308	1,427	52,100	SH		SOLE		52,100	0	0
Honeywell International, Inc.	COM	438516106	15,620	117,190	SH		SOLE		117,190	0	0
Horizon Pharma Plc	COM	g4617b105	1,811	152,550	SH		SOLE		152,550	0	0
Host Hotels & Resorts Inc.	COM	44107P104	8,313	455,005	SH		SOLE		455,005	0	0
HP Inc	COM	40434l105	765	43,750	SH		SOLE		43,750	0	0
HSBC Holdings ADR	COM	404280406	663	14,300	SH		SOLE		14,300	0	0
Hunt (J.B.) Transport	COM	445658107	1,151	12,600	SH		SOLE		12,600	0	0
Icahn Enterprises LP	COM	451100101	601	11,625	SH		SOLE		11,625	0	0
Icon PLC ADR	COM	G4705A100	724	7,400	SH		SOLE		7,400	0	0
Imperva Inc	COM	45321L100	317	6,625	SH		SOLE		6,625	0	0
Infineon Technologies ADR	COM	45662n103	776	36,825	SH		SOLE		36,825	0	0
Infosys Ltd ADR	COM	456788108	2,337	155,600	SH		SOLE		155,600	0	0
Ing Groep NV ADR	COM	456837103	273	15,700	SH		SOLE		15,700	0	0
Ingenico Group	COM	45684w107	335	18,475	SH		SOLE		18,475	0	0
Intel Corp.	COM	458140100	13,517	400,630	SH		SOLE		400,630	0	0
International Business Machine	COM	459200101	3,760	24,443	SH		SOLE		24,443	0	0
Intesa Sanpaolo ADR	COM	46115h107	207	10,899	SH		SOLE		10,899	0	0
Invesco Ltd	COM	g491bt108	6,775	192,515	SH		SOLE		192,515	0	0
Iron Mountain Inc.	COM	46284V101	7,349	213,885	SH		SOLE		213,885	0	0
Itau Unibanco Holding SA ADR	COM	465562106	367	33,206	SH		SOLE		33,206	0	0
JD.com Inc	COM	47215p106	4,583	116,850	SH		SOLE		116,850	0	0
Johnson & Johnson	COM	478160104	29,927	226,225	SH		SOLE		226,225	0	0
Johnson Controls Interanationa	COM	g51502105	5,096	117,517	SH		SOLE		117,517	0	0
JPMorgan Chase & Co.	COM	46625h100	31,154	340,857	SH		SOLE		340,857	0	0
Kellogg Co.	COM	487836108	2,544	36,620	SH		SOLE		36,620	0	0
Kimco Realty Corp.	COM	49446r109	1,550	84,475	SH		SOLE		84,475	0	0
Kinder Morgan Inc.	COM	49456b101	2,677	139,702	SH		SOLE		139,702	0	0
Kingfisher PLC ADR	COM	495724403	203	26,000	SH		SOLE		26,000	0	0
Kirin Holdings Co ADR	COM	497350306	678	33,300	SH		SOLE		33,300	0	0
KKR & Co LP	COM	48248m102	954	51,300	SH		SOLE		51,300	0	0
Koninklijke Ahold Delhaize NV	COM	500467501	285	14,953	SH		SOLE		14,953	0	0
Koninklijke KPN NV ADR	COM	780641205	48	15,000	SH		SOLE		15,000	0	0
Koninklijke Philips NV ADR	COM	500472303	304	8,500	SH		SOLE		8,500	0	0
Kraft Heinz Co The	COM	500754106	426	4,975	SH		SOLE		4,975	0	0
Kubota Corp-Spon ADR	COM	501173207	409	4,875	SH		SOLE		4,875	0	0
L Brands Inc	COM	501797104	5,372	99,690	SH		SOLE		99,690	0	0
Lamar Advertising Co	COM	512816109	1,508	20,500	SH		SOLE		20,500	0	0
Las Vegas Sands	COM	517834107	791	12,375	SH		SOLE		12,375	0	0
Leggett & Platt	COM	524660107	1,786	34,000	SH		SOLE		34,000	0	0
Liberty Property Trust	COM	531172104	2,444	60,040	SH		SOLE		60,040	0	0
Lilly (Eli) & Co.	COM	532457108	14,680	178,370	SH		SOLE		178,370	0	0
Logitech International SA ADR	COM	H50430232	1,540	42,020	SH		SOLE		42,020	0	0
Lowe's Co.	COM	548661107	18,636	240,370	SH		SOLE		240,370	0	0
Luxottica Group SPA ADR	COM	55068r202	416	7,200	SH		SOLE		7,200	0	0
Lyondellbassel Industries N.V.	COM	N53745100	3,127	37,050	SH		SOLE		37,050	0	0
Macerich Co.	COM	554382101	1,258	21,659	SH		SOLE		21,659	0	0
Mack-Cali Realty Corp.	COM	554489104	326	12,000	SH		SOLE		12,000	0	0
Macquarie Infrastructure Co	COM	55608B105	408	5,200	SH		SOLE		5,200	0	0
Mallinckrodt PLC	COM	g5785g107	446	9,957	SH		SOLE		9,957	0	0
Marriott International	COM	571903202	7,551	75,280	SH		SOLE		75,280	0	0
Marsh & McLennan Companies, In	COM	571748102	16,283	208,860	SH		SOLE		208,860	0	0
Mattel Inc.	COM	577081102	3,931	182,570	SH		SOLE		182,570	0	0
Maxim Integrated Products, Inc	COM	57772k101	6,833	152,175	SH		SOLE		152,175	0	0
McCormick & Co.	COM	579780206	8,560	87,785	SH		SOLE		87,785	0	0
McDonald's Corp.	COM	580135101	13,503	88,165	SH		SOLE		88,165	0	0
Mckesson HBOC Inc.	COM	58155q103	2,364	14,370	SH		SOLE		14,370	0	0
Medtronic Inc	COM	g5960l103	6,817	76,813	SH		SOLE		76,813	0	0
Mercadolibre Inc ADR	COM	58733r102	1,449	5,775	SH		SOLE		5,775	0	0
Merck & Co., Inc.	COM	58933y105	16,528	257,890	SH		SOLE		257,890	0	0
Metlife Inc	COM	59156R108	8,452	153,835	SH		SOLE		153,835	0	0
Micron Technology Inc.	COM	595112103	287	9,600	SH		SOLE		9,600	0	0
Microsoft Corp	COM	594918104	44,752	649,240	SH		SOLE		649,240	0	0
Minerals Technologies Inc	COM	603158106	3,773	51,540	SH		SOLE		51,540	0	0
Mitsubishi UFJ Financial Group	COM	606822104	1,664	246,550	SH		SOLE		246,550	0	0
Mitsui & Co Ltd-Spons ADR	COM	606827202	407	1,425	SH		SOLE		1,425	0	0
Mohawk Industries Inc.	COM	608190104	4,398	18,195	SH		SOLE		18,195	0	0
Molson Coors Brewing Company	COM	60871r209	8,170	94,630	SH		SOLE		94,630	0	0
Mondelez International Inc	COM	609207105	645	14,927	SH		SOLE		14,927	0	0
Monsanto Co.	COM	61166w101	5,189	43,840	SH		SOLE		43,840	0	0
Morgan Stanley, Dean Witter, D	COM	617446448	8,997	201,900	SH		SOLE		201,900	0	0
MRC Global Inc	COM	55345k103	2,509	151,850	SH		SOLE		151,850	0	0
Mylan NV	COM	n59465109	877	22,600	SH		SOLE		22,600	0	0
National Fuel Gas Co.	COM	636180101	503	9,000	SH		SOLE		9,000	0	0
National Oilwell Varco Inc	COM	637071101	2,248	68,255	SH		SOLE		68,255	0	0
Netflix Inc	COM	64110l106	4,095	27,405	SH		SOLE		27,405	0	0
New York Community Bancorp	COM	649445103	1,744	132,800	SH		SOLE		132,800	0	0
Newell Brands Inc	COM	651229106	322	6,000	SH		SOLE		6,000	0	0
NextEra Energy Inc	COM	65339f101	5,841	41,681	SH		SOLE		41,681	0	0
NICE Ltd ADR	COM	653656108	547	6,950	SH		SOLE		6,950	0	0
Nippon Telegraph & Telephone C	COM	654624105	2,970	62,850	SH		SOLE		62,850	0	0
Nisource Inc.	COM	65473P105	4,396	173,330	SH		SOLE		173,330	0	0
Norsk Hydro ASA ADR	COM	656531605	110	20,000	SH		SOLE		20,000	0	0
Northrop Grumman Corp.	COM	666807102	12,806	49,885	SH		SOLE		49,885	0	0
Novartis ADR	COM	66987v109	2,805	33,600	SH		SOLE		33,600	0	0
Novo Nordisk ADR	COM	670100205	2,659	62,000	SH		SOLE		62,000	0	0
Occidental Petroleum	COM	674599105	4,379	73,140	SH		SOLE		73,140	0	0
Omega Healthcare Investors	COM	681936100	531	16,075	SH		SOLE		16,075	0	0
Oracle Corp.	COM	68389x105	12,710	253,484	SH		SOLE		253,484	0	0
Outfront Media Inc	COM	69007j106	514	22,225	SH		SOLE		22,225	0	0
Owens-Illinois Inc	COM	690768403	227	9,500	SH		SOLE		9,500	0	0
Pacwest Bancorp	COM	695263103	468	10,025	SH		SOLE		10,025	0	0
Palo Alto Networks Inc	COM	697435105	2,387	17,840	SH		SOLE		17,840	0	0
Panasonic Corp ADR	COM	69832a205	844	62,200	SH		SOLE		62,200	0	0
Park National	COM	700658107	228	2,200	SH		SOLE		2,200	0	0
Parker Hannifin	COM	701094104	1,263	7,900	SH		SOLE		7,900	0	0
Pattern Energy Group Inc	COM	70338p100	578	24,225	SH		SOLE		24,225	0	0
PepsiCo, Inc.	COM	713448108	14,655	126,890	SH		SOLE		126,890	0	0
Pfizer, Inc.	COM	717081103	18,584	553,264	SH		SOLE		553,264	0	0
Philip Morris International In	COM	718172109	4,435	37,760	SH		SOLE		37,760	0	0
Pinnacle West Capital	COM	723484101	213	2,500	SH		SOLE		2,500	0	0
Pitney Bowes Inc.	COM	724479100	302	20,000	SH		SOLE		20,000	0	0
Plains All American Pipeline L	COM	726503105	1,493	56,815	SH		SOLE		56,815	0	0
PNC Financial Services Group	COM	693475105	19,284	154,434	SH		SOLE		154,434	0	0
Polaris Industries	COM	731068102	1,107	12,000	SH		SOLE		12,000	0	0
PPG Industries, Inc.	COM	693506107	1,061	9,650	SH		SOLE		9,650	0	0
PPL Corp.	COM	69351t106	2,796	72,330	SH		SOLE		72,330	0	0
Prada SPA ADR	COM	73942h100	231	31,100	SH		SOLE		31,100	0	0
Principal Financial Group	COM	74251V102	13,165	205,480	SH		SOLE		205,480	0	0
Procter & Gamble, Inc.	COM	742718109	24,171	277,350	SH		SOLE		277,350	0	0
Prologis Trust	COM	74340w103	8,494	144,845	SH		SOLE		144,845	0	0
Prospect Capital Corp	COM	74348t102	762	93,825	SH		SOLE		93,825	0	0
Prudential Financial, Inc.	COM	744320102	19,317	178,625	SH		SOLE		178,625	0	0
PTC Inc	COM	69370c100	3,206	58,164	SH		SOLE		58,164	0	0
Public Service Enterprise Grou	COM	744573106	1,660	38,600	SH		SOLE		38,600	0	0
Pure Storage Inc	COM	74624m102	195	15,225	SH		SOLE		15,225	0	0
Qualcomm Inc.	COM	747525103	5,438	98,483	SH		SOLE		98,483	0	0
Quest Diagnostics Inc	COM	74834L100	1,206	10,850	SH		SOLE		10,850	0	0
Red Hat Inc.	COM	756577102	4,133	43,160	SH		SOLE		43,160	0	0
Regal Entertainment Group - A	COM	758766109	3,645	178,150	SH		SOLE		178,150	0	0
Regions Financial Corp.	COM	7591EP100	272	18,610	SH		SOLE		18,610	0	0
Repsol SA ADR	COM	76026T205	179	11,700	SH		SOLE		11,700	0	0
Rexnord Corp	COM	76169b102	2,923	125,710	SH		SOLE		125,710	0	0
Reynolds American Inc	COM	761713106	5,564	85,548	SH		SOLE		85,548	0	0
RingCentral Inc	COM	76680r206	4,034	110,360	SH		SOLE		110,360	0	0
Roche Holdings Ltd-Spons ADR	COM	771195104	934	29,300	SH		SOLE		29,300	0	0
Rockwell Collins Inc.	COM	774341101	9,833	93,580	SH		SOLE		93,580	0	0
Royal Dutch Shell PLC ADR	COM	780259206	2,125	39,950	SH		SOLE		39,950	0	0
Ryder System, Inc.	COM	783549108	497	6,900	SH		SOLE		6,900	0	0
Salesforce.com Inc	COM	79466L302	5,483	63,314	SH		SOLE		63,314	0	0
Sanofi ADR	COM	80105n105	1,888	39,400	SH		SOLE		39,400	0	0
Santos Limited ADR	COM	803021708	104	44,800	SH		SOLE		44,800	0	0
SAP SE	COM	803054204	2,177	20,800	SH		SOLE		20,800	0	0
Scana Corp	COM	80589M102	1,497	22,346	SH		SOLE		22,346	0	0
Schlumberger Ltd.	COM	806857108	12,301	186,836	SH		SOLE		186,836	0	0
Schneider Electric SE ADR	COM	80687p106	319	20,775	SH		SOLE		20,775	0	0
Sealed Air Corp.	COM	81211k100	3,638	81,285	SH		SOLE		81,285	0	0
Sensata Technologies Holding A	COM	N7902X106	529	12,375	SH		SOLE		12,375	0	0
Servicenow Inc	COM	81762p102	3,039	28,671	SH		SOLE		28,671	0	0
Ship Finance Intl Ltd	COM	g81075106	948	69,700	SH		SOLE		69,700	0	0
Shire PLC	COM	82481r106	1,042	6,307	SH		SOLE		6,307	0	0
Simon Property Group, Inc.	COM	828806109	2,131	13,172	SH		SOLE		13,172	0	0
Singapore Telecom-SP ADR	COM	82929R304	950	33,630	SH		SOLE		33,630	0	0
Sony Corp. ADR	COM	835699307	966	25,300	SH		SOLE		25,300	0	0
Southern Co.	COM	842587107	612	12,774	SH		SOLE		12,774	0	0
Spectra Energy Partners LP	COM	84756n109	864	20,150	SH		SOLE		20,150	0	0
Starbucks Corp.	COM	855244109	6,431	110,290	SH		SOLE		110,290	0	0
Subsea 7 Sa ADR	COM	864323100	320	23,900	SH		SOLE		23,900	0	0
Superior Energy Services Inc.	COM	868157108	1,043	99,970	SH		SOLE		99,970	0	0
Swisscom AG ADR	COM	871013108	367	7,600	SH		SOLE		7,600	0	0
Synopsys Inc.	COM	871607107	1,014	13,900	SH		SOLE		13,900	0	0
Taiwan Semiconductor Manufactu	COM	874039100	2,041	58,386	SH		SOLE		58,386	0	0
Target Corp.	COM	87612e106	8,109	155,075	SH		SOLE		155,075	0	0
Taro Pharmaceutical Indus	COM	m8737e108	233	2,075	SH		SOLE		2,075	0	0
TDK Corp. ADR	COM	872351408	257	3,900	SH		SOLE		3,900	0	0
TechnipFMC PLC	COM	G87110105	2,115	77,770	SH		SOLE		77,770	0	0
Telecom Italia ADR	COM	87927y102	177	18,880	SH		SOLE		18,880	0	0
Telenor ASA ADR	COM	87944W105	446	27,000	SH		SOLE		27,000	0	0
Tesoro Corp	COM	881609101	1,344	14,354	SH		SOLE		14,354	0	0
Teva Pharmaceutical Industries	COM	881624209	542	16,325	SH		SOLE		16,325	0	0
Texas Instruments	COM	882508104	6,650	86,437	SH		SOLE		86,437	0	0
The Mosaic Co	COM	61945c103	455	19,925	SH		SOLE		19,925	0	0
The Travelers Companies, Inc.	COM	89417E109	20,269	160,191	SH		SOLE		160,191	0	0
Thermo Fisher Scientific Inc	COM	883556102	11,454	65,650	SH		SOLE		65,650	0	0
Tokio Marine Holdings Inc ADR	COM	889094108	1,004	24,250	SH		SOLE		24,250	0	0
Total SA ADR	COM	89151e109	1,706	34,400	SH		SOLE		34,400	0	0
Total System Services	COM	891906109	4,494	77,150	SH		SOLE		77,150	0	0
Toyota Motor Corp. ADR	COM	892331307	3,760	35,800	SH		SOLE		35,800	0	0
Tractor Supply Company	COM	892356106	1,382	25,500	SH		SOLE		25,500	0	0
Transcanada Corp	COM	89353d107	1,831	38,405	SH		SOLE		38,405	0	0
Tupperware Brands Corp	COM	899896104	2,792	39,750	SH		SOLE		39,750	0	0
Twenty First Century Fox Inc	COM	90130a101	3,513	123,945	SH		SOLE		123,945	0	0
U.S. Bancorp	COM	902973304	14,302	275,467	SH		SOLE		275,467	0	0
UBS Group AG	COM	h42097107	460	27,120	SH		SOLE		27,120	0	0
Unilever PLC ADR	COM	904767704	1,983	36,640	SH		SOLE		36,640	0	0
Union Pacific	COM	907818108	6,328	58,100	SH		SOLE		58,100	0	0
United Health Group Inc.	COM	91324P102	21,921	118,225	SH		SOLE		118,225	0	0
United Parcel Services Cl B	COM	911312106	11,358	102,700	SH		SOLE		102,700	0	0
United Technologies	COM	913017109	12,417	101,690	SH		SOLE		101,690	0	0
Uniti Group Inc	COM	91325v108	2,019	80,312	SH		SOLE		80,312	0	0
Vector Group Ltd	COM	92240m108	377	17,700	SH		SOLE		17,700	0	0
Verizon Communications Inc	COM	92343v104	13,550	303,410	SH		SOLE		303,410	0	0
Visa Inc	COM	92826c839	7,099	75,698	SH		SOLE		75,698	0	0
Vulcan Materials	COM	929160109	3,396	26,810	SH		SOLE		26,810	0	0
Waddell & Reed Financial, Inc.	COM	930059100	289	15,300	SH		SOLE		15,300	0	0
Wal-Mart	COM	931142103	11,778	155,629	SH		SOLE		155,629	0	0
Walgreens Boots Alliance Inc	COM	931427108	8,215	104,905	SH		SOLE		104,905	0	0
Walt Disney Co.	COM	254687106	28,709	270,200	SH		SOLE		270,200	0	0
Weingarten Realty Investors	COM	948741103	2,843	94,465	SH		SOLE		94,465	0	0
Wells Fargo Co.	COM	949746101	19,870	358,593	SH		SOLE		358,593	0	0
Welltower Inc	COM	95040q104	2,184	29,180	SH		SOLE		29,180	0	0
Western Digital	COM	958102105	6,386	72,072	SH		SOLE		72,072	0	0
Western Gas Partners	COM	958254104	557	9,950	SH		SOLE		9,950	0	0
Westpac Banking Corp. Ltd ADR	COM	961214301	3,557	152,000	SH		SOLE		152,000	0	0
Williams Cos.	COM	969457100	2,020	66,700	SH		SOLE		66,700	0	0
WNS Holdings LTD	COM	92932m101	3,957	115,175	SH		SOLE		115,175	0	0
WPP PLC ADR	COM	92937a102	622	5,900	SH		SOLE		5,900	0	0
Wright Medical Group NV	COM	n96617118	568	20,650	SH		SOLE		20,650	0	0
Xperi Corp	COM	98421b100	4,282	143,690	SH		SOLE		143,690	0	0
Zoetis	COM	98978v103	5,352	85,795	SH		SOLE		85,795	0	0
Wisdomtree Emerging Markets Hi	COM	97717w315	693	16,900	SH		SOLE		16,900	0	0