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	815	34,350	SH		SOLE		34,350	0	0
Abbott Labs	COM	002824100	8,101	135,190	SH		SOLE		135,190	0	0
Abbvie Inc	COM	00287Y109	15,143	159,990	SH		SOLE		159,990	0	0
Accenture PLC CL A	COM	G1151C101	6,487	42,260	SH		SOLE		42,260	0	0
Activision Blizzard Inc	COM	00507V109	6,331	93,855	SH		SOLE		93,855	0	0
Adidas AG	COM	00687a107	629	5,200	SH		SOLE		5,200	0	0
Adobe Systems	COM	00724F101	16,909	78,254	SH		SOLE		78,254	0	0
Air Products & Chemicals, Inc.	COM	009158106	4,175	26,255	SH		SOLE		26,255	0	0
Alcentra Capital Corp	COM	01374T102	1,121	161,031	SH		SOLE		161,031	0	0
Alexion Pharmaceuticals Inc	COM	015351109	3,238	29,050	SH		SOLE		29,050	0	0
Alibaba Group Holdings	COM	01609W102	7,536	41,060	SH		SOLE		41,060	0	0
Allegheny Technologies Inc.	COM	01741R102	201	8,500	SH		SOLE		8,500	0	0
Allergan PLC	COM	G0177J108	4,221	25,080	SH		SOLE		25,080	0	0
AllianceBernstein Holding LP	COM	01881G106	212	7,900	SH		SOLE		7,900	0	0
Allstate Corp	COM	020002101	3,785	39,925	SH		SOLE		39,925	0	0
Ally Financial Inc	COM	02005N100	347	12,775	SH		SOLE		12,775	0	0
Alphabet Inc Class A	COM	02079K305	26,343	25,400	SH		SOLE		25,400	0	0
Alphabet Inc Class C	COM	02079K107	26,277	25,467	SH		SOLE		25,467	0	0
Altria Group, Inc.	COM	02209S103	19,847	318,475	SH		SOLE		318,475	0	0
Amadeus IT Group	COM	02263t104	732	9,900	SH		SOLE		9,900	0	0
Amazon.com, Inc.	COM	023135106	42,074	29,070	SH		SOLE		29,070	0	0
Ambev SA ADR	COM	02319V103	845	116,250	SH		SOLE		116,250	0	0
America Movil SA de CV ADR	COM	02364W105	516	27,050	SH		SOLE		27,050	0	0
American Campus Communities	COM	024835100	3,665	94,900	SH		SOLE		94,900	0	0
American Electric Power	COM	025537101	4,466	65,115	SH		SOLE		65,115	0	0
American Express	COM	025816109	12,175	130,525	SH		SOLE		130,525	0	0
American States Water Co	COM	029899101	1,751	33,000	SH		SOLE		33,000	0	0
Anadarko Petroleum Corp.	COM	032511107	4,513	74,700	SH		SOLE		74,700	0	0
Andeavor	COM	03349M105	4,481	44,564	SH		SOLE		44,564	0	0
Anheuser-Busch	COM	03524A108	8,924	81,170	SH		SOLE		81,170	0	0
Anthem Inc	COM	036752103	14,272	64,960	SH		SOLE		64,960	0	0
Apollo Global Management LLC	COM	037612306	2,000	67,525	SH		SOLE		67,525	0	0
Apple Inc	COM	037833100	74,529	444,205	SH		SOLE		444,205	0	0
Ares Capital Corp	COM	04010L103	257	16,200	SH		SOLE		16,200	0	0
Arthur J. Gallagher & Co.	COM	363576109	9,296	135,250	SH		SOLE		135,250	0	0
AstraZeneca Group PLC ADR	COM	046353108	921	26,350	SH		SOLE		26,350	0	0
AT&T Inc.	COM	00206R102	19,316	541,823	SH		SOLE		541,823	0	0
Atmos Energy Corp.	COM	049560105	1,161	13,781	SH		SOLE		13,781	0	0
AXA SA ADR	COM	054536107	699	26,300	SH		SOLE		26,300	0	0
Baidu.com	COM	056752108	675	3,025	SH		SOLE		3,025	0	0
Baker Hughes A GE Co	COM	05722G100	294	10,569	SH		SOLE		10,569	0	0
Banco Bilbao Vizcaya Argentari	COM	05946K101	835	105,716	SH		SOLE		105,716	0	0
Banco de Chile ADR	COM	059520106	490	4,876	SH		SOLE		4,876	0	0
Banco Santander Central Hispan	COM	05964H105	383	58,500	SH		SOLE		58,500	0	0
Bank of New York Mellon Corp.	COM	064058100	12,175	236,272	SH		SOLE		236,272	0	0
Barclays PLC ADR	COM	06738E204	409	34,600	SH		SOLE		34,600	0	0
BASF SE ADR	COM	055262505	1,466	57,800	SH		SOLE		57,800	0	0
BB&T Corporation	COM	054937107	4,954	95,190	SH		SOLE		95,190	0	0
Becton Dickinson and Co	COM	075887109	1,537	7,091	SH		SOLE		7,091	0	0
BHP Billiton Ltd. ADR	COM	088606108	999	22,475	SH		SOLE		22,475	0	0
Biomarin Pharmaceutical Inc	COM	09061G101	2,278	28,095	SH		SOLE		28,095	0	0
Blackstone Group LP	COM	09253U108	5,787	181,129	SH		SOLE		181,129	0	0
Bloomin Brands Inc	COM	094235108	4,500	185,325	SH		SOLE		185,325	0	0
Boeing Company	COM	097023105	42,444	129,450	SH		SOLE		129,450	0	0
Boston Properties Inc	COM	101121101	584	4,740	SH		SOLE		4,740	0	0
BP plc ADR	COM	055622104	3,371	83,150	SH		SOLE		83,150	0	0
Brambles LTD	COM	105105209	605	39,000	SH		SOLE		39,000	0	0
Brighthouse Financial Inc	COM	10922N103	719	13,983	SH		SOLE		13,983	0	0
British American Tob SP ADR	COM	110448107	3,298	57,159	SH		SOLE		57,159	0	0
Broadcom Ltd	COM	Y09827109	7,002	29,713	SH		SOLE		29,713	0	0
Canadian Solar Inc	COM	136635109	217	13,325	SH		SOLE		13,325	0	0
Capital One Financial	COM	14040H105	8,018	83,675	SH		SOLE		83,675	0	0
Carrizo Oil & Gas Inc	COM	144577103	1,239	77,410	SH		SOLE		77,410	0	0
Caterpillar Inc.	COM	149123101	6,895	46,785	SH		SOLE		46,785	0	0
CBS Corp	COM	124857202	5,445	105,960	SH		SOLE		105,960	0	0
Celgene Corp.	COM	151020104	7,721	86,545	SH		SOLE		86,545	0	0
Cemex SAB de CV ADR	COM	151290889	116	17,486	SH		SOLE		17,486	0	0
CenturyLink Inc.	COM	156700106	1,358	82,675	SH		SOLE		82,675	0	0
Charles Schwab Corp.	COM	808513105	14,329	274,400	SH		SOLE		274,400	0	0
Chart Industries Inc	COM	16115Q308	4,231	71,680	SH		SOLE		71,680	0	0
Chevron Corp.	COM	166764100	17,653	154,795	SH		SOLE		154,795	0	0
Church & Dwight Co.	COM	171340102	9,194	182,560	SH		SOLE		182,560	0	0
Cielo SA	COM	171778202	497	79,725	SH		SOLE		79,725	0	0
CIG Group Inc	COM	39945C109	687	11,925	SH		SOLE		11,925	0	0
Cincinnati Financial	COM	172062101	1,077	14,500	SH		SOLE		14,500	0	0
Cinemark Holdings Inc.	COM	17243V102	2,773	73,625	SH		SOLE		73,625	0	0
Cisco Systems	COM	17275R102	18,940	441,585	SH		SOLE		441,585	0	0
Citigroup Inc.	COM	172967424	12,856	190,455	SH		SOLE		190,455	0	0
CK Hutchison Holdings Limited	COM	12562Y100	1,135	94,694	SH		SOLE		94,694	0	0
CMS Energy Corp.	COM	125896100	6,485	143,185	SH		SOLE		143,185	0	0
Coca-Cola	COM	191216100	664	15,300	SH		SOLE		15,300	0	0
Cogent Communications Holding	COM	19239V302	6,968	160,555	SH		SOLE		160,555	0	0
Cognizant Tech Solutions Corp.	COM	192446102	5,958	74,017	SH		SOLE		74,017	0	0
Columbia Sportswear Co	COM	198516106	6,130	80,200	SH		SOLE		80,200	0	0
Comerica, Inc.	COM	200340107	1,823	19,000	SH		SOLE		19,000	0	0
Constellation Brands	COM	21036P108	15,094	66,225	SH		SOLE		66,225	0	0
Continental Resources Inc	COM	212015101	5,209	88,355	SH		SOLE		88,355	0	0
Corning Inc.	COM	219350105	5,441	195,155	SH		SOLE		195,155	0	0
Costco Co.	COM	22160K105	7,974	42,320	SH		SOLE		42,320	0	0
Covanta Holding Corp	COM	22282E102	1,855	127,900	SH		SOLE		127,900	0	0
Cracker Barrel Old Country Sto	COM	22410J106	1,552	9,750	SH		SOLE		9,750	0	0
Crown Castle International Cor	COM	22822V101	8,727	79,615	SH		SOLE		79,615	0	0
CTRIP.COM International ADR	COM	22943F100	522	11,200	SH		SOLE		11,200	0	0
Cummins Inc	COM	231021106	6,263	38,640	SH		SOLE		38,640	0	0
CVS Health Corp	COM	126650100	8,072	129,754	SH		SOLE		129,754	0	0
Daimler AG ADR	COM	D1668R123	1,374	16,200	SH		SOLE		16,200	0	0
Danaher Corp.	COM	235851102	15,543	158,750	SH		SOLE		158,750	0	0
Danone ADR	COM	23636t100	598	37,000	SH		SOLE		37,000	0	0
Darden Restaurants Inc.	COM	237194105	11,907	139,670	SH		SOLE		139,670	0	0
Davita Inc	COM	23918K108	6,254	94,850	SH		SOLE		94,850	0	0
DCP Midstream LP	COM	23311P100	1,292	36,800	SH		SOLE		36,800	0	0
Deutsche Post AG ADR	COM	25157Y202	437	10,000	SH		SOLE		10,000	0	0
Diageo PLC ADR	COM	25243Q205	1,534	11,325	SH		SOLE		11,325	0	0
Diamondback Energy Inc	COM	25278X109	2,888	22,828	SH		SOLE		22,828	0	0
Digital Realty	COM	253868103	2,403	22,800	SH		SOLE		22,800	0	0
Dollar General	COM	256677105	6,371	68,100	SH		SOLE		68,100	0	0
Dominion Energy Inc	COM	25746U109	3,751	55,625	SH		SOLE		55,625	0	0
DowDuPont Inc	COM	26078J100	4,604	72,271	SH		SOLE		72,271	0	0
Dr. Pepper Snapple Group, Inc	COM	26138E109	653	5,520	SH		SOLE		5,520	0	0
Duke Energy Corp.	COM	26441C204	7,192	92,831	SH		SOLE		92,831	0	0
Duke Realty Corp.	COM	264411505	1,978	74,700	SH		SOLE		74,700	0	0
Eagle Materials Inc	COM	26969P108	4,479	43,465	SH		SOLE		43,465	0	0
Edison Int'l	COM	281020107	2,484	39,025	SH		SOLE		39,025	0	0
Enbridge Energy Partners LP	COM	29250R106	960	99,540	SH		SOLE		99,540	0	0
Enbridge Inc	COM	29250N105	1,742	55,348	SH		SOLE		55,348	0	0
ENI SPA ADR	COM	26874R108	794	22,475	SH		SOLE		22,475	0	0
Enterprise Products Partners L	COM	293792107	2,042	83,400	SH		SOLE		83,400	0	0
EOG Resources	COM	26875P101	9,185	87,250	SH		SOLE		87,250	0	0
EPAM Systems Inc	COM	29414B104	4,890	42,700	SH		SOLE		42,700	0	0
EPR Properties	COM	26884U109	3,478	62,780	SH		SOLE		62,780	0	0
Equity Residential Properties	COM	29476L107	3,152	51,150	SH		SOLE		51,150	0	0
Essex Property Trust Inc	COM	297178105	4,814	20,000	SH		SOLE		20,000	0	0
Exact Sciences Corp	COM	30063P105	6,659	165,120	SH		SOLE		165,120	0	0
Expedia Group Inc	COM	30212P303	3,915	35,460	SH		SOLE		35,460	0	0
Express Scripts Holding Compan	COM	30219G108	5,319	77,000	SH		SOLE		77,000	0	0
Exxon Mobil Corp.	COM	30231G102	19,600	262,704	SH		SOLE		262,704	0	0
Facebook Inc	COM	30303M102	23,753	148,651	SH		SOLE		148,651	0	0
Fanuc Corp	COM	307305102	745	29,825	SH		SOLE		29,825	0	0
Fedex Corp.	COM	31428X106	7,003	29,165	SH		SOLE		29,165	0	0
Ferrovial SA	COM	315437103	577	27,650	SH		SOLE		27,650	0	0
Fifth Third Bancorp	COM	316773100	5,709	179,810	SH		SOLE		179,810	0	0
Flowserve Corp.	COM	34354P105	5,333	123,075	SH		SOLE		123,075	0	0
Fomento Economico Mexicana-SP	COM	344419106	654	7,150	SH		SOLE		7,150	0	0
Ford Motor Co.	COM	345370860	3,166	285,695	SH		SOLE		285,695	0	0
Fortinet Inc	COM	34959E109	5,988	111,750	SH		SOLE		111,750	0	0
Fortive Corp	COM	34959J108	6,339	81,775	SH		SOLE		81,775	0	0
Four Corners Property Trust In	COM	35086T109	1,423	61,647	SH		SOLE		61,647	0	0
Freeport-McMoRan Inc	COM	35671D857	237	13,500	SH		SOLE		13,500	0	0
GameStop Corp.	COM	36467W109	972	77,050	SH		SOLE		77,050	0	0
General Electric Co.	COM	369604103	10,924	810,375	SH		SOLE		810,375	0	0
General Motors Inc	COM	37045V100	4,311	118,620	SH		SOLE		118,620	0	0
Genuine Parts Co.	COM	372460105	2,668	29,700	SH		SOLE		29,700	0	0
Getinge AB	COM	37427X104	379	33,475	SH		SOLE		33,475	0	0
GGP Inc	COM	36174X101	372	18,176	SH		SOLE		18,176	0	0
Gilead Science Inc	COM	375558103	7,778	103,165	SH		SOLE		103,165	0	0
GlaxoSmithKline plc ADR	COM	37733W105	1,287	32,950	SH		SOLE		32,950	0	0
Goldcorp Inc	COM	380956409	4,369	316,145	SH		SOLE		316,145	0	0
Goldman Sachs Group	COM	38141G104	14,835	58,900	SH		SOLE		58,900	0	0
Grifols SA ADR	COM	398438408	459	21,650	SH		SOLE		21,650	0	0
Grupo Televisa SA ADR	COM	40049J206	174	10,925	SH		SOLE		10,925	0	0
Guidewire Software Inc	COM	40171V100	4,502	55,700	SH		SOLE		55,700	0	0
Halliburton Co.	COM	406216101	6,473	137,895	SH		SOLE		137,895	0	0
HCP Inc	COM	40414L109	1,416	60,940	SH		SOLE		60,940	0	0
Hellenic Telecom Organization	COM	423325307	271	40,100	SH		SOLE		40,100	0	0
Hitachi Ltd. ADR	COM	433578507	682	9,500	SH		SOLE		9,500	0	0
Hologic Inc	COM	436440101	747	20,000	SH		SOLE		20,000	0	0
Home Depot, Inc.	COM	437076102	33,752	189,360	SH		SOLE		189,360	0	0
Honda Motor Co Ltd. ADR	COM	438128308	1,809	52,100	SH		SOLE		52,100	0	0
Honeywell International, Inc.	COM	438516106	16,502	114,190	SH		SOLE		114,190	0	0
Host Hotels & Resorts Inc.	COM	44107P104	9,491	509,155	SH		SOLE		509,155	0	0
HP Inc	COM	40434L105	1,071	48,850	SH		SOLE		48,850	0	0
HSBC Holdings ADR	COM	404280406	682	14,300	SH		SOLE		14,300	0	0
Hunt (J.B.) Transport	COM	445658107	843	7,200	SH		SOLE		7,200	0	0
Icahn Enterprises LP	COM	451100101	1,855	32,525	SH		SOLE		32,525	0	0
Icon PLC ADR	COM	G4705A100	874	7,400	SH		SOLE		7,400	0	0
Infineon Technologies ADR	COM	45662N103	985	36,825	SH		SOLE		36,825	0	0
Infosys Ltd ADR	COM	456788108	2,777	155,600	SH		SOLE		155,600	0	0
Ing Groep NV ADR	COM	456837103	266	15,700	SH		SOLE		15,700	0	0
Ingenico Group	COM	45684w107	299	18,475	SH		SOLE		18,475	0	0
Intel Corp.	COM	458140100	20,847	400,280	SH		SOLE		400,280	0	0
International Business Machine	COM	459200101	2,602	16,962	SH		SOLE		16,962	0	0
Intesa Sanpaolo ADR	COM	46115h107	238	10,899	SH		SOLE		10,899	0	0
Invesco Ltd	COM	G491BT108	6,162	192,515	SH		SOLE		192,515	0	0
Iron Mountain Inc.	COM	46284V101	7,912	240,785	SH		SOLE		240,785	0	0
Itau Unibanco Holding SA ADR	COM	465562106	518	33,206	SH		SOLE		33,206	0	0
JD.com Inc	COM	47215P106	4,731	116,850	SH		SOLE		116,850	0	0
Johnson & Johnson	COM	478160104	28,478	222,225	SH		SOLE		222,225	0	0
JPMorgan Chase & Co.	COM	46625H100	35,505	322,857	SH		SOLE		322,857	0	0
Kellogg Co.	COM	487836108	2,381	36,620	SH		SOLE		36,620	0	0
Kimco Realty Corp.	COM	49446R109	1,216	84,475	SH		SOLE		84,475	0	0
Kinder Morgan Inc.	COM	49456B101	2,104	139,702	SH		SOLE		139,702	0	0
Kingfisher PLC ADR	COM	495724403	213	26,000	SH		SOLE		26,000	0	0
Kirin Holdings Co ADR	COM	497350306	881	33,300	SH		SOLE		33,300	0	0
KKR & Co LP	COM	48248M102	1,971	97,100	SH		SOLE		97,100	0	0
Koninklijke Ahold Delhaize NV	COM	500467501	355	14,953	SH		SOLE		14,953	0	0
Koninklijke KPN NV ADR	COM	780641205	45	15,000	SH		SOLE		15,000	0	0
Koninklijke Philips NV ADR	COM	500472303	326	8,500	SH		SOLE		8,500	0	0
Korea Electric Power Corp	COM	500631106	478	31,075	SH		SOLE		31,075	0	0
Kroger Co	COM	501044101	5,059	211,300	SH		SOLE		211,300	0	0
Kubota Corp-Spon ADR	COM	501173207	423	4,875	SH		SOLE		4,875	0	0
L Brands Inc	COM	501797104	3,683	96,390	SH		SOLE		96,390	0	0
Lamar Advertising Co	COM	512816109	1,402	22,025	SH		SOLE		22,025	0	0
Las Vegas Sands	COM	517834107	2,015	28,025	SH		SOLE		28,025	0	0
Leggett & Platt	COM	524660107	1,508	34,000	SH		SOLE		34,000	0	0
Liberty Property Trust	COM	531172104	2,385	60,040	SH		SOLE		60,040	0	0
Lilly (Eli) & Co.	COM	532457108	13,336	172,370	SH		SOLE		172,370	0	0
Logitech International SA ADR	COM	H50430232	1,543	42,020	SH		SOLE		42,020	0	0
Lowe's Co.	COM	548661107	19,996	227,870	SH		SOLE		227,870	0	0
Luxottica Group SPA ADR	COM	55068R202	447	7,200	SH		SOLE		7,200	0	0
Lyondellbassel Industries N.V.	COM	N53745100	4,034	38,175	SH		SOLE		38,175	0	0
Macerich Co.	COM	554382101	1,213	21,659	SH		SOLE		21,659	0	0
Mack-Cali Realty Corp.	COM	554489104	201	12,000	SH		SOLE		12,000	0	0
Macquarie Infrastructure Co	COM	55608B105	937	25,375	SH		SOLE		25,375	0	0
Marriott International	COM	571903202	9,910	72,880	SH		SOLE		72,880	0	0
Marsh & McLennan Companies, In	COM	571748102	16,796	203,360	SH		SOLE		203,360	0	0
Mattel Inc.	COM	577081102	2,046	155,570	SH		SOLE		155,570	0	0
Maxim Integrated Products, Inc	COM	57772K101	9,164	152,175	SH		SOLE		152,175	0	0
McCormick & Co.	COM	579780206	9,127	85,785	SH		SOLE		85,785	0	0
McDonald's Corp.	COM	580135101	13,787	88,165	SH		SOLE		88,165	0	0
Mckesson HBOC Inc.	COM	58155Q103	2,024	14,370	SH		SOLE		14,370	0	0
Medtronic Inc	COM	G5960L103	6,162	76,813	SH		SOLE		76,813	0	0
Mercadolibre Inc ADR	COM	58733R102	2,058	5,775	SH		SOLE		5,775	0	0
Merck & Co., Inc.	COM	58933Y105	13,666	250,890	SH		SOLE		250,890	0	0
Metlife Inc	COM	59156R108	7,059	153,835	SH		SOLE		153,835	0	0
Micron Technology Inc.	COM	595112103	5,300	101,650	SH		SOLE		101,650	0	0
Microsoft Corp	COM	594918104	59,019	646,640	SH		SOLE		646,640	0	0
Minerals Technologies Inc	COM	603158106	3,451	51,540	SH		SOLE		51,540	0	0
Mitsubishi UFJ Financial Group	COM	606822104	1,637	246,550	SH		SOLE		246,550	0	0
Mitsui & Co Ltd-Spons ADR	COM	606827202	485	1,425	SH		SOLE		1,425	0	0
Mohawk Industries Inc.	COM	608190104	4,225	18,195	SH		SOLE		18,195	0	0
Molson Coors Brewing Company	COM	60871R209	7,128	94,630	SH		SOLE		94,630	0	0
Monsanto Co.	COM	61166W101	4,801	41,140	SH		SOLE		41,140	0	0
Morgan Stanley, Dean Witter, D	COM	617446448	10,895	201,900	SH		SOLE		201,900	0	0
MRC Global Inc	COM	55345K103	2,496	151,850	SH		SOLE		151,850	0	0
National Grid PLC	COM	636274409	530	9,400	SH		SOLE		9,400	0	0
Netflix Inc	COM	64110L106	8,094	27,405	SH		SOLE		27,405	0	0
New York Community Bancorp	COM	649445103	1,730	132,800	SH		SOLE		132,800	0	0
NextEra Energy Inc	COM	65339F101	6,808	41,681	SH		SOLE		41,681	0	0
NICE Ltd ADR	COM	653656108	653	6,950	SH		SOLE		6,950	0	0
Nippon Telegraph & Telephone C	COM	654624105	2,897	62,850	SH		SOLE		62,850	0	0
Nisource Inc.	COM	65473P105	4,045	169,180	SH		SOLE		169,180	0	0
Nokia Corp ADR	COM	654902204	472	86,225	SH		SOLE		86,225	0	0
Norsk Hydro ASA ADR	COM	656531605	117	20,000	SH		SOLE		20,000	0	0
Northrop Grumman Corp.	COM	666807102	17,416	49,885	SH		SOLE		49,885	0	0
Novartis ADR	COM	66987V109	2,717	33,600	SH		SOLE		33,600	0	0
Novo Nordisk ADR	COM	670100205	3,054	62,000	SH		SOLE		62,000	0	0
Nutrien LTD	COM	67077m108	5,749	121,646	SH		SOLE		121,646	0	0
NVIDIA Corp.	COM	67066G104	9,368	40,450	SH		SOLE		40,450	0	0
Oaktree Specialty Lending Co	COM	67401P108	115	27,200	SH		SOLE		27,200	0	0
Omega Healthcare Investors	COM	681936100	1,614	59,675	SH		SOLE		59,675	0	0
Oracle Corp.	COM	68389X105	11,597	253,484	SH		SOLE		253,484	0	0
Outfront Media Inc	COM	69007J106	1,412	75,325	SH		SOLE		75,325	0	0
Owens-Illinois Inc	COM	690768403	206	9,500	SH		SOLE		9,500	0	0
Pacwest Bancorp	COM	695263103	1,906	38,475	SH		SOLE		38,475	0	0
Palo Alto Networks Inc	COM	697435105	3,238	17,840	SH		SOLE		17,840	0	0
Panasonic Corp ADR	COM	69832a205	879	62,200	SH		SOLE		62,200	0	0
Parsley Energy Inc	COM	701877102	2,354	81,185	SH		SOLE		81,185	0	0
Pattern Energy Group Inc	COM	70338P100	1,214	70,225	SH		SOLE		70,225	0	0
PepsiCo, Inc.	COM	713448108	13,850	126,890	SH		SOLE		126,890	0	0
Pfizer, Inc.	COM	717081103	19,635	553,264	SH		SOLE		553,264	0	0
Philip Morris International In	COM	718172109	3,753	37,760	SH		SOLE		37,760	0	0
Pitney Bowes Inc.	COM	724479100	218	20,000	SH		SOLE		20,000	0	0
Plains All American Pipeline L	COM	726503105	1,252	56,815	SH		SOLE		56,815	0	0
PNC Financial Services Group	COM	693475105	21,436	141,734	SH		SOLE		141,734	0	0
Polaris Industries	COM	731068102	687	6,000	SH		SOLE		6,000	0	0
PPG Industries, Inc.	COM	693506107	1,077	9,650	SH		SOLE		9,650	0	0
PPL Corp.	COM	69351T106	2,046	72,330	SH		SOLE		72,330	0	0
Prada SPA ADR	COM	73942H100	289	31,100	SH		SOLE		31,100	0	0
Principal Financial Group	COM	74251V102	11,663	191,480	SH		SOLE		191,480	0	0
Procter & Gamble Inc	COM	742718109	21,810	275,100	SH		SOLE		275,100	0	0
Prologis Trust	COM	74340W103	10,147	161,095	SH		SOLE		161,095	0	0
Prudential Financial, Inc.	COM	744320102	16,426	158,625	SH		SOLE		158,625	0	0
PTC Inc	COM	69370C100	4,537	58,164	SH		SOLE		58,164	0	0
Public Service Enterprise Grou	COM	744573106	1,939	38,600	SH		SOLE		38,600	0	0
Qualcomm Inc.	COM	747525103	5,257	94,882	SH		SOLE		94,882	0	0
Quest Diagnostics Inc	COM	74834L100	1,088	10,850	SH		SOLE		10,850	0	0
Red Hat Inc.	COM	756577102	6,453	43,160	SH		SOLE		43,160	0	0
Regions Financial Corp.	COM	7591EP100	346	18,610	SH		SOLE		18,610	0	0
Repsol SA ADR	COM	76026T205	207	11,700	SH		SOLE		11,700	0	0
Rexnord Corp	COM	76169B102	3,731	125,710	SH		SOLE		125,710	0	0
RingCentral Inc	COM	76680R206	7,008	110,360	SH		SOLE		110,360	0	0
Roche Holdings Ltd-Spons ADR	COM	771195104	838	29,300	SH		SOLE		29,300	0	0
Rockwell Collins Inc.	COM	774341101	12,619	93,580	SH		SOLE		93,580	0	0
Royal Dutch Shell PLC ADR	COM	780259206	2,549	39,950	SH		SOLE		39,950	0	0
Sabra Health Care REIT Inc	COM	78573L106	1,155	65,441	SH		SOLE		65,441	0	0
Salesforce.com Inc	COM	79466L302	7,363	63,314	SH		SOLE		63,314	0	0
Sanofi ADR	COM	80105N105	1,579	39,400	SH		SOLE		39,400	0	0
Santos Ltd ADR	COM	803021807	179	44,800	SH		SOLE		44,800	0	0
SAP SE	COM	803054204	2,187	20,800	SH		SOLE		20,800	0	0
Schlumberger Ltd.	COM	806857108	11,527	177,936	SH		SOLE		177,936	0	0
Schneider Electric SE ADR	COM	80687P106	365	20,775	SH		SOLE		20,775	0	0
Seagate Technology	COM	G7945M107	3,204	54,750	SH		SOLE		54,750	0	0
Sealed Air Corp.	COM	81211K100	3,376	78,900	SH		SOLE		78,900	0	0
Sensata Technologies Holding P	COM	N7902X106	641	12,375	SH		SOLE		12,375	0	0
Servicenow Inc	COM	81762P102	4,744	28,671	SH		SOLE		28,671	0	0
Ship Finance Intl Ltd	COM	G81075106	1,983	138,700	SH		SOLE		138,700	0	0
Simon Property Group, Inc.	COM	828806109	2,033	13,172	SH		SOLE		13,172	0	0
Singapore Telecom-SP ADR	COM	82929R304	864	33,630	SH		SOLE		33,630	0	0
Sony Corp. ADR	COM	835699307	1,223	25,300	SH		SOLE		25,300	0	0
Spectra Energy Partners LP	COM	84756N109	678	20,150	SH		SOLE		20,150	0	0
Splunk Inc	COM	848637104	5,667	57,600	SH		SOLE		57,600	0	0
Starbucks Corp.	COM	855244109	6,385	110,290	SH		SOLE		110,290	0	0
STMicroelect4ronics NV	COM	861012102	783	35,150	SH		SOLE		35,150	0	0
Subsea 7 Sa ADR	COM	864323100	305	23,900	SH		SOLE		23,900	0	0
Swisscom AG ADR	COM	871013108	376	7,600	SH		SOLE		7,600	0	0
T Mobile US Inc	COM	872590104	3,783	61,975	SH		SOLE		61,975	0	0
Taiwan Semiconductor Manufactu	COM	874039100	2,555	58,386	SH		SOLE		58,386	0	0
Target Corp.	COM	87612E106	10,454	150,575	SH		SOLE		150,575	0	0
Taro Pharmaceutical Indus	COM	M8737E108	205	2,075	SH		SOLE		2,075	0	0
TDK Corp. ADR	COM	872351408	341	3,900	SH		SOLE		3,900	0	0
Telenor ASA ADR	COM	87944W105	609	27,000	SH		SOLE		27,000	0	0
Tenaris SA-ADR	COM	88031M109	205	5,900	SH		SOLE		5,900	0	0
Tencent Holdings LTD-UNS ADR	COM	88032q109	705	13,225	SH		SOLE		13,225	0	0
Texas Instruments	COM	882508104	7,787	74,952	SH		SOLE		74,952	0	0
The Mosaic Co	COM	61945C103	1,576	64,925	SH		SOLE		64,925	0	0
The Travelers Companies, Inc.	COM	89417E109	20,762	149,516	SH		SOLE		149,516	0	0
Thermo Fisher Scientific Inc	COM	883556102	13,554	65,650	SH		SOLE		65,650	0	0
Thomson Reuters Corp	COM	884903105	496	12,825	SH		SOLE		12,825	0	0
Tokio Marine Holdings Inc ADR	COM	889094108	1,088	24,250	SH		SOLE		24,250	0	0
Total SA ADR	COM	89151E109	1,985	34,400	SH		SOLE		34,400	0	0
Total System Services	COM	891906109	6,655	77,150	SH		SOLE		77,150	0	0
Toyota Motor Corp. ADR	COM	892331307	4,667	35,800	SH		SOLE		35,800	0	0
Tractor Supply Company	COM	892356106	1,607	25,500	SH		SOLE		25,500	0	0
Transcanada Corp	COM	89353D107	1,587	38,405	SH		SOLE		38,405	0	0
Trivago NV	COM	89686d105	254	36,500	SH		SOLE		36,500	0	0
Tupperware Brands Corp	COM	899896104	1,923	39,750	SH		SOLE		39,750	0	0
Twenty First Century Fox Inc	COM	90130A101	4,548	123,945	SH		SOLE		123,945	0	0
U.S. Bancorp	COM	902973304	13,911	275,467	SH		SOLE		275,467	0	0
UBS Group AG	COM	H42097107	479	27,120	SH		SOLE		27,120	0	0
Unilever PLC ADR	COM	904767704	2,036	36,640	SH		SOLE		36,640	0	0
Union Pacific	COM	907818108	7,810	58,100	SH		SOLE		58,100	0	0
United Health Group Inc.	COM	91324P102	25,108	117,325	SH		SOLE		117,325	0	0
United Parcel Services Cl B	COM	911312106	10,330	98,700	SH		SOLE		98,700	0	0
United Technologies	COM	913017109	12,795	101,690	SH		SOLE		101,690	0	0
Valero Energy Corp.	COM	91913Y100	3,848	41,475	SH		SOLE		41,475	0	0
Vector Group Ltd	COM	92240M108	1,551	76,072	SH		SOLE		76,072	0	0
Verizon Communications Inc	COM	92343V104	14,605	305,410	SH		SOLE		305,410	0	0
Vertex Pharmaceuticals Inc	COM	92532F100	4,568	28,025	SH		SOLE		28,025	0	0
Visa Inc	COM	92826C839	9,055	75,698	SH		SOLE		75,698	0	0
Vulcan Materials	COM	929160109	3,061	26,810	SH		SOLE		26,810	0	0
Walgreens Boots Alliance Inc	COM	931427108	6,868	104,905	SH		SOLE		104,905	0	0
Walmart Stores Inc	COM	931142103	13,178	148,120	SH		SOLE		148,120	0	0
Walt Disney Co.	COM	254687106	26,134	260,200	SH		SOLE		260,200	0	0
Weingarten Realty Investors	COM	948741103	2,372	84,465	SH		SOLE		84,465	0	0
Wells Fargo Co.	COM	949746101	16,200	309,093	SH		SOLE		309,093	0	0
Welltower Inc	COM	95040Q104	2,078	38,180	SH		SOLE		38,180	0	0
Western Digital	COM	958102105	6,624	71,792	SH		SOLE		71,792	0	0
Western Gas Partners	COM	958254104	425	9,950	SH		SOLE		9,950	0	0
Westpac Banking Corp. Ltd ADR	COM	961214301	3,371	152,000	SH		SOLE		152,000	0	0
Williams Cos.	COM	969457100	1,658	66,700	SH		SOLE		66,700	0	0
WNS Holdings LTD	COM	92932M101	5,221	115,175	SH		SOLE		115,175	0	0
WPP PLC ADR	COM	92937A102	469	5,900	SH		SOLE		5,900	0	0
Wright Medical Group NV	COM	N96617118	410	20,650	SH		SOLE		20,650	0	0
Yum China Holdings Inc	COM	98850P109	661	15,925	SH		SOLE		15,925	0	0
Zoetis	COM	98978V103	7,165	85,795	SH		SOLE		85,795	0	0
Tidewater Inc-wts	COM	88642r133	206	7,643	SH		SOLE		7,643	0	0
Wisdomtree Emerging Markets Hi	COM	97717w315	809	16,900	SH		SOLE		16,900	0	0