Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
—	STERLING BANCORP DEL COM	712,345	$9.524M	4.2%	$13.37	$13.37	—	COM	85917A100
XOM	EXXON MOBIL CORPORATION	90,430	$9.152M	4.0%	$101.21 *	$53.70	+14.3%	COM	30231G102
JNJ	JOHNSON & JOHNSON	92,749	$8.495M	3.7%	$91.59 *	$59.75	+9.8%	COM	478160104
—	GENERAL ELECTRIC COMPANY	254,578	$7.136M	3.1%	$28.03	$23.22	—	COM	369604103
CVX	CHEVRONTEXACO CORP	53,089	$6.631M	2.9%	$124.90 *	$71.30	+5.5%	COM	166764100
HD	HOME DEPOT INC	79,289	$6.529M	2.9%	$82.34 *	$56.10	+11.0%	COM	437076102
ORCL	ORACLE CORPORATION	140,302	$5.368M	2.4%	$38.26 *	$27.61	+16.1%	COM	68389X105
TMO	THERMO ELECTRON CORP	47,566	$5.296M	2.3%	$111.34 *	$79.76	+34.4%	COM	883556102
MSFT	MICROSOFT CORP	140,772	$5.266M	2.3%	$37.41 *	$26.78	+15.9%	COM	594918104
CVS	C V S CORP DEL	72,110	$5.161M	2.3%	$71.57 *	$41.70	+23.8%	COM	126650100
—	ACTAVIS PLC	29,904	$5.024M	2.2%	$168.00	$126.22	—	COM	00507K103
PG	PROCTER & GAMBLE CO	61,268	$4.988M	2.2%	$81.41 *	$55.00	+5.5%	COM	742718109
EMR	EMERSON ELECTRIC CO	69,176	$4.855M	2.1%	$70.18 *	$40.22	+26.3%	COM	291011104
INTC	INTEL CORP	183,387	$4.76M	2.1%	$25.96 *	$17.18	+12.4%	COM	458140100
PFE	PFIZER INCORPORATED	152,113	$4.659M	2.1%	$30.63 *	$16.48	+7.1%	COM	717081103
PEP	PEPSICO INCORPORATED	55,920	$4.638M	2.0%	$82.94 *	$56.00	+3.5%	COM	713448108
VZ	VERIZON COMMUNICATIONS	93,521	$4.596M	2.0%	$49.14 *	$27.01	-1.5%	COM	92343V104
JPM	JP MORGAN CHASE & CO	78,024	$4.563M	2.0%	$58.48 *	$36.50	+15.9%	COM	46625H100
WMT	WAL-MART STORES INC	55,834	$4.394M	1.9%	$78.70 *	$19.98	+3.9%	COM	931142103
OBT	ORANGE CNTY BANCORP INC	111,734	$4.363M	1.9%	$39.05 *	$9.89	-0.8%	COM	68417L107
HAL	HALLIBURTON COMPANY	85,667	$4.348M	1.9%	$50.75 *	$33.43	+21.5%	COM	406216101
COP	CONOCOPHILLIPS	56,432	$3.987M	1.8%	$70.65 *	$39.96	+19.3%	COM	20825C104
BA	BOEING CO	26,085	$3.56M	1.6%	$136.48 *	$80.87	+44.2%	COM	097023105
T	AT & T INC	97,344	$3.423M	1.5%	$35.16 *	$11.36	-0.6%	COM	00206R102
CSCO	CISCO SYSTEMS INC	151,167	$3.391M	1.5%	$22.43 *	$15.29	+0.8%	COM	17275R102
MRK	MERCK & CO INC	63,903	$3.198M	1.4%	$50.04 *	$30.06	+9.5%	COM	58933Y105
BAC	BANKAMERICA CORP	197,014	$3.068M	1.4%	$15.57 *	$10.08	+21.7%	COM	060505104
—	CHUBB CORPORATION	31,374	$3.032M	1.3%	$96.64	$84.66	—	COM	171232101
WFC	WELLS FARGO & CO NEW	64,379	$2.923M	1.3%	$45.40 *	$27.73	+17.0%	COM	949746101
BMY	BRISTOL-MYERS SQUIBB CO	54,410	$2.892M	1.3%	$53.15 *	$28.67	+25.2%	COM	110122108
ADP	AUTO DATA PROCESSING	35,492	$2.868M	1.3%	$80.81 *	$45.25	+20.5%	COM	053015103
—	EXPRESS SCRIPTS A	38,934	$2.735M	1.2%	$70.25	$62.73	—	COM	30219G108
—	3M COMPANY	18,447	$2.587M	1.1%	$140.24	$109.68	—	COM	885794101
GS	GOLDMAN SACHS GROUP INC	13,878	$2.46M	1.1%	$177.26 *	$120.67	+16.6%	COM	38141G104
—	CITRIX SYSTEMS INC	38,785	$2.453M	1.1%	$63.25	$60.35	—	COM	177376100
IBM	INTL BUSINESS MACHINES	12,322	$2.311M	1.0%	$187.55 *	$118.79	-6.7%	COM	459200101
BK	THE BANK OF NY MELLON CORP	64,760	$2.263M	1.0%	$34.94 *	$21.39	+22.0%	COM	064058100
CAH	CARDINAL HEALTH INC	33,775	$2.257M	1.0%	$66.82 *	$32.61	+48.7%	COM	14149Y108
SYY	SYSCO CORPORATION	58,389	$2.108M	0.9%	$36.10 *	$24.39	+7.6%	COM	871829107
—	PRECISION CASTPARTS CORP	7,675	$2.067M	0.9%	$269.32	$225.98	—	COM	740189105
—	ROYAL DUTCH SHELL SPON ADR	28,935	$2.062M	0.9%	$71.26	$64.62	—	COM	780259206
—	TIME WARNER INC	28,587	$1.993M	0.9%	$69.72	$57.96	—	COM	00184A105
—	DOW CHEMICAL COMPANY	44,194	$1.962M	0.9%	$44.40	$32.60	—	COM	260543103
PSX	PHILLIPS 66	24,665	$1.902M	0.8%	$77.11 *	$40.44	+24.4%	COM	718546104
MDLZ	MONDELEZ INTL INC CL A	51,012	$1.801M	0.8%	$35.31 *	$23.16	+17.5%	COM	609207105
AAPL	APPLE COMPUTER INC	3,075	$1.725M	0.8%	$560.98 *	$13.62	+27.7%	COM	037833100
—	KRAFT FOODS GROUP INC COM	30,954	$1.669M	0.7%	$53.92	$55.47	—	COM	50075N104
MCD	MCDONALDS CORP	15,025	$1.458M	0.6%	$97.04 *	$71.80	-1.0%	COM	580135101
—	COVIDIEN LTD	21,052	$1.434M	0.6%	$68.12	$63.08	—	COM	G2552X108
GLW	CORNING INC	78,711	$1.403M	0.6%	$17.82 *	$10.54	+24.0%	COM	219350105
—	E M C CORP MASS	49,251	$1.239M	0.5%	$25.16	$23.80	—	COM	268648102
CMC	COMMERCIAL METALS CO	58,418	$1.188M	0.5%	$20.34 *	$11.15	+40.2%	COM	201723103
PNC	PNC FINANCIAL SERVICES	15,154	$1.176M	0.5%	$77.60 *	$47.64	+12.8%	COM	693475105
QCOM	QUALCOMM INC	15,141	$1.124M	0.5%	$74.24 *	$45.34	+17.3%	COM	747525103
—	ABBVIE INC COM	19,532	$1.031M	0.5%	$52.79	$41.33	—	COM	002874109
IFF	INTL FLAVOR & FRAGRANCES	11,950	$1.027M	0.5%	$85.94 *	$58.18	+11.8%	COM	459506101
MET	METLIFE INC	19,015	$1.025M	0.5%	$53.90 *	$24.75	+30.8%	COM	59156R108
CAT	CATERPILLAR INC	10,970	$996K	0.4%	$90.79 *	$61.80	+8.0%	COM	149123101
—	BERKSHIRE BANCP INC DEL	134,116	$975K	0.4%	$7.27	$7.95	—	COM	084597202
—	DU PONT E I DE NEMOUR&CO	14,733	$957K	0.4%	$64.96	$54.17	—	COM	263534109
NOC	NORTHROP GRUMMAN CORP	7,540	$864K	0.4%	$114.59 *	$63.53	+47.5%	COM	666807102
KO	COCA COLA COMPANY	19,287	$797K	0.4%	$41.32 *	$27.77	+2.1%	COM	191216100
—	TYCO INTL LTD NEW	19,160	$786K	0.3%	$41.02	$32.96	—	COM	902124106
ABT	ABBOTT LABORATORIES	20,482	$785K	0.3%	$38.33 *	$28.85	+5.4%	COM	002824100
ITW	ILLINOIS TOOL WORKS INC	8,525	$717K	0.3%	$84.11 *	$52.15	+22.1%	COM	452308109
—	TOTAL FINA ELF S A ADR	11,180	$685K	0.3%	$61.27	$49.28	—	COM	89151E109
—	UNITED TECHNOLOGIES CORP	6,000	$683K	0.3%	$113.83	$92.88	—	COM	913017109
TD	TORONTO DOMINION BK	6,940	$654K	0.3%	$94.24 *	$40.97	+15.0%	COM	891160509
MO	ALTRIA GROUP INC	16,387	$629K	0.3%	$38.38 *	$16.28	+10.8%	COM	02209S103
NSC	NORFOLK SOUTHERN CORP	6,602	$613K	0.3%	$92.85 *	$57.82	+23.2%	COM	655844108
PFF	ISHARES TR S&P US PFD STK INDE	16,575	$610K	0.3%	$36.80	$40.20	-8.4%	COM	464288687
CMCSA	COMCAST CORP NEW CL A	11,021	$573K	0.3%	$51.99 *	$16.58	+20.1%	COM	20030N101
AMGN	AMGEN INC COM	4,843	$552K	0.2%	$113.98 *	$73.71	+10.6%	COM	031162100
NVS	NOVARTIS A G SPON ADR	6,850	$551K	0.2%	$80.44	$72.69	+10.6%	COM	66987V109
BCPC	BALCHEM CORP	9,360	$549K	0.2%	$58.65 *	$41.81	+31.9%	COM	057665200
—	NEXTERA ENERGY INC.	6,337	$543K	0.2%	$85.69	$81.21	—	COM	302571104
PPL	PPL CORPORATION	17,685	$532K	0.2%	$30.08 *	$16.37	+0.3%	COM	69351T106
—	RAYTHEON COMPANY NEW	5,580	$506K	0.2%	$90.68	$67.59	—	COM	755111507
—	BLACKROCK INC	1,579	$500K	0.2%	$316.66	$256.67	—	COM	09247X101
CL	COLGATE-PALMOLIVE CO	7,464	$487K	0.2%	$65.25 *	$44.81	+10.2%	COM	194162103
—	SPECTRA ENERGY CORP	13,275	$473K	0.2%	$35.63	$34.55	—	COM	847560109
BP	BP PLC ADR	9,654	$469K	0.2%	$48.58	$42.62	+14.1%	COM	055622104
DUK	DUKE ENERGY CORPORATION	6,646	$459K	0.2%	$69.06 *	$41.62	+0.9%	COM	26441C204
CAG	CONAGRA FOODS INC	13,600	$458K	0.2%	$33.68 *	$17.69	-1.4%	COM	205887102
LOW	LOWES COMPANIES INC	8,625	$427K	0.2%	$49.51 *	$32.25	+23.8%	COM	548661107
EQT	EQT CORPORATION	4,750	$426K	0.2%	$89.68 *	$37.67	+19.0%	COM	26884L109
—	ALTEVA COM	51,942	$424K	0.2%	$8.16	$9.88	—	COM	02153V102
JFBC	JEFFERSONVILLE BANCORP	36,342	$409K	0.2%	$11.25	$11.21	-0.1%	COM	47559A103
—	KINDER MORGAN ENERGY LP	4,997	$403K	0.2%	$80.65	$85.19	—	COM	494550106
RSG	REPUBLIC SERVICES INC	11,900	$395K	0.2%	$33.19 *	$26.37	+0.5%	COM	760759100
AZN	ASTRAZENECA PLC ADR	6,630	$394K	0.2%	$59.43	$47.31	—	COM	046353108
MTB	M & T BANK CORP	3,281	$382K	0.2%	$116.43 *	$73.77	+13.5%	COM	55261F104
DIS	DISNEY WALT HOLDING CO	4,963	$379K	0.2%	$76.37 *	$56.12	+22.4%	COM	254687106
—	ADT CORP COM	9,190	$372K	0.2%	$40.48	$39.83	—	COM	00101J106
MDU	M D U RESOURCES GROUP	11,946	$365K	0.2%	$30.55 *	$6.58	+22.9%	COM	552690109
SNY	SANOFI AVENTIS ADR	6,775	$363K	0.2%	$53.58	$53.13	+0.9%	COM	80105N105
HON	HONEYWELL INTERNATIONAL	3,960	$362K	0.2%	$91.41 *	$53.84	+19.0%	COM	438516106
LLY	ELI LILLY & COMPANY	6,712	$342K	0.2%	$50.95 *	$42.00	-3.6%	COM	532457108
DRI	DARDEN RESTAURANTS INC	6,084	$331K	0.1%	$54.40 *	$30.88	+9.2%	COM	237194105
IP	INTERNATIONAL PAPER CO	6,701	$329K	0.1%	$49.10 *	$26.03	+7.4%	COM	460146103
—	PENTAIR INC	4,161	$323K	0.1%	$77.63	$57.78	—	COM	H6169Q108
SO	THE SOUTHERN COMPANY	7,858	$323K	0.1%	$41.10 *	$26.09	-5.8%	COM	842587107
USB	US BANCORP DEL NEW	7,840	$317K	0.1%	$40.43 *	$22.82	+17.8%	COM	902973304
TEVA	TEVA PHARM INDS LTD ADRF	7,386	$296K	0.1%	$40.08	$38.94	+2.9%	COM	881624209
SLB	SCHLUMBERGER LTD F	3,260	$294K	0.1%	$90.18 *	$52.90	+23.0%	COM	806857108
SCHW	THE CHARLES SCHWAB CORP	11,217	$292K	0.1%	$26.03 *	$16.02	+40.8%	COM	808513105
—	GOOGLE INC CLASS A	254	$285K	0.1%	$1122.05	$881.79	—	COM	38259P508
—	MONSANTO CO NEW DEL	2,413	$281K	0.1%	$116.45	$104.74	—	COM	61166W101
KMB	KIMBERLY-CLARK CORP	2,650	$277K	0.1%	$104.53 *	$61.93	+8.1%	COM	494368103
OXY	OCCIDENTAL PETE CORP	2,757	$262K	0.1%	$95.03 *	$57.83	+9.9%	COM	674599105
ED	CONSOLIDATED EDISON INC	4,386	$242K	0.1%	$55.18 *	$37.50	-5.5%	COM	209115104
NKE	NIKE INC CLASS B	2,947	$232K	0.1%	$78.72 *	$27.95	+21.1%	COM	654106103
ALCO	ALICO INC	5,952	$231K	0.1%	$38.81 *	$36.45	-10.6%	COM	016230104
—	NABORS INDS INC	13,225	$225K	0.1%	$17.01	$15.32	—	COM	G6359F103
—	VODAFONE AIRTOUCH ADR	5,734	$225K	0.1%	$39.24	$35.13	—	COM	92857W209
PM	PHILIP MORRIS INTL INC	2,386	$208K	0.1%	$87.18 *	$49.85	-3.3%	COM	718172109
—	NEW YORK COMNTY BANCORP	12,356	$208K	0.1%	$16.83	$14.00	—	COM	649445103
RIG	TRANSOCEAN SEDCO FOREX	4,185	$207K	0.1%	$49.46	$48.94	+1.0%	COM	H8817H100
—	TWO HBRS INVT CORP COM	12,000	$111K	0.0%	$9.25	$9.75	—	COM	90187B101
WEN	WENDYS INTL INC COM	10,100	$88,000	0.0%	$8.71	$5.79	+50.5%	COM	95058W100
—	DISCOVERY CORP ENTERPRISES INC	34,000	$4,000	0.0%	$0.12	$0.06	—	COM	25466Y109
ASPR	ADSOUTH PARTNERS INC	10,001	$0	0.0%	$0.00	$0.00	0.0%	COM	00737M200
CHMR	CHIMERA ENERGY CORP COM	16,600	$0	0.0%	$0.00	—	—	COM	16934U100
—	WESTMONT RESOURCES INC COM PAR	445,350	$0	0.0%	$0.00	—	—	COM	96081P302
—	BOREAL WATER COLLECTION INC CO	35,700	$0	0.0%	$0.00	—	—	COM	09971P100
—	RSTK INTERLINK US NETWORKS	45,000	$0	0.0%	$0.00	—	—	COM	45875T905
—	VENTANA BIOTECH INC	10,000	$0	0.0%	$0.00	—	—	COM	92277F109