Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
JNJ	JOHNSON & JOHNSON	94,952	$9.327M	4.0%	$59.91	+11.2%	COM	478160104
XOM	EXXON MOBIL CORPORATION	92,631	$9.048M	3.9%	$53.81	+7.9%	COM	30231G102
—	STERLING BANCORP DEL COM	706,498	$8.944M	3.8%	$13.37	—	COM	85917A100
—	GENERAL ELECTRIC COMPANY	271,177	$7.021M	3.0%	$23.38	—	COM	369604103
CVX	CHEVRONTEXACO CORP	53,929	$6.413M	2.7%	$71.28	-1.3%	COM	166764100
HD	HOME DEPOT INC	80,700	$6.386M	2.7%	$56.17	+7.2%	COM	437076102
ORCL	ORACLE CORPORATION	145,428	$5.949M	2.5%	$27.76	+15.2%	COM	68389X105
MSFT	MICROSOFT CORP	143,940	$5.9M	2.5%	$26.88	+16.3%	COM	594918104
TMO	THERMO ELECTRON CORP	47,676	$5.733M	2.5%	$79.76	+43.5%	COM	883556102
CVS	C V S CORP DEL	73,816	$5.526M	2.4%	$41.92	+21.9%	COM	126650100
HAL	HALLIBURTON COMPANY	86,272	$5.081M	2.2%	$33.43	+28.0%	COM	406216101
PG	PROCTER & GAMBLE CO	62,918	$5.071M	2.2%	$55.04	+2.7%	COM	742718109
PFE	PFIZER INCORPORATED	155,230	$4.986M	2.1%	$16.51	+10.2%	COM	717081103
INTC	INTEL CORP	189,187	$4.884M	2.1%	$17.23	+8.4%	COM	458140100
JPM	JP MORGAN CHASE & CO	80,248	$4.872M	2.1%	$36.65	+14.8%	COM	46625H100
PEP	PEPSICO INCORPORATED	57,530	$4.804M	2.1%	$56.02	+1.5%	COM	713448108
EMR	EMERSON ELECTRIC CO	70,227	$4.691M	2.0%	$40.33	+18.5%	COM	291011104
VZ	VERIZON COMMUNICATIONS	98,053	$4.664M	2.0%	$26.96	-4.0%	COM	92343V104
WMT	WAL-MART STORES INC	57,875	$4.423M	1.9%	$19.97	-0.4%	COM	931142103
OBT	ORANGE CNTY BANCORP INC	106,525	$4.218M	1.8%	$9.89	-0.7%	COM	68417L107
COP	CONOCOPHILLIPS	57,887	$4.072M	1.7%	$40.09	+13.3%	COM	20825C104
IBM	INTL BUSINESS MACHINES	19,102	$3.677M	1.6%	$115.39	-5.3%	COM	459200101
MRK	MERCK & CO INC	64,613	$3.668M	1.6%	$30.12	+18.7%	COM	58933Y105
CSCO	CISCO SYSTEMS INC	159,950	$3.585M	1.5%	$15.29	+0.1%	COM	17275R102
BAC	BANKAMERICA CORP	203,425	$3.499M	1.5%	$10.18	+30.3%	COM	060505104
T	AT & T INC	95,855	$3.362M	1.4%	$11.36	-4.5%	COM	00206R102
WFC	WELLS FARGO & CO NEW	67,388	$3.352M	1.4%	$27.98	+19.4%	COM	949746101
BA	BOEING CO	26,671	$3.347M	1.4%	$81.55	+37.0%	COM	097023105
—	ACTAVIS PLC	14,789	$3.044M	1.3%	$126.22	—	COM	00507K103
—	EXPRESS SCRIPTS A	39,709	$2.982M	1.3%	$62.97	—	COM	30219G108
—	CHUBB CORPORATION	33,235	$2.968M	1.3%	$84.92	—	COM	171232101
ADP	AUTO DATA PROCESSING	36,832	$2.846M	1.2%	$45.51	+15.2%	COM	053015103
BMY	BRISTOL-MYERS SQUIBB CO	54,319	$2.822M	1.2%	$28.67	+25.3%	COM	110122108
—	3M COMPANY	18,894	$2.563M	1.1%	$110.30	—	COM	885794101
GS	GOLDMAN SACHS GROUP INC	14,653	$2.401M	1.0%	$121.36	+10.2%	COM	38141G104
—	CITRIX SYSTEMS INC	40,850	$2.346M	1.0%	$60.21	—	COM	177376100
BK	THE BANK OF NY MELLON CORP	66,385	$2.343M	1.0%	$21.47	+15.3%	COM	064058100
CAH	CARDINAL HEALTH INC	33,425	$2.339M	1.0%	$32.61	+54.8%	COM	14149Y108
—	ROYAL DUTCH SHELL SPON ADR	29,748	$2.173M	0.9%	$64.85	—	COM	780259206
—	DOW CHEMICAL COMPANY	44,004	$2.138M	0.9%	$32.60	—	COM	260543103
SYY	SYSCO CORPORATION	58,534	$2.115M	0.9%	$24.39	+7.0%	COM	871829107
—	KRAFT FOODS GROUP INC COM	35,627	$1.999M	0.9%	$55.56	—	COM	50075N104
—	PRECISION CASTPARTS CORP	7,910	$1.999M	0.9%	$226.78	—	COM	740189105
—	TIME WARNER INC	29,754	$1.944M	0.8%	$58.25	—	COM	00184A105
PSX	PHILLIPS 66	24,065	$1.854M	0.8%	$40.44	+23.2%	COM	718546104
GLW	CORNING INC	83,754	$1.744M	0.7%	$10.74	+28.7%	COM	219350105
MDLZ	MONDELEZ INTL INC CL A	49,737	$1.718M	0.7%	$23.16	+13.8%	COM	609207105
—	COVIDIEN LTD	22,527	$1.659M	0.7%	$63.77	—	COM	G2552X108
MCD	MCDONALDS CORP	15,105	$1.481M	0.6%	$71.80	-2.1%	COM	580135101
AAPL	APPLE COMPUTER INC	2,712	$1.456M	0.6%	$13.62	+21.7%	COM	037833100
—	E M C CORP MASS	51,820	$1.42M	0.6%	$23.98	—	COM	268648102
PNC	PNC FINANCIAL SERVICES	15,394	$1.339M	0.6%	$47.78	+18.9%	COM	693475105
QCOM	QUALCOMM INC	15,915	$1.255M	0.5%	$45.77	+18.0%	COM	747525103
IFF	INTL FLAVOR & FRAGRANCES	11,900	$1.138M	0.5%	$58.18	+17.0%	COM	459506101
CAT	CATERPILLAR INC	11,420	$1.135M	0.5%	$62.12	+12.2%	COM	149123101
CMC	COMMERCIAL METALS CO	58,418	$1.103M	0.5%	$11.15	+34.8%	COM	201723103
—	ABBVIE INC COM	21,457	$1.103M	0.5%	$42.24	—	COM	002874109
MET	METLIFE INC	20,315	$1.073M	0.5%	$25.15	+23.5%	COM	59156R108
—	BERKSHIRE BANCP INC DEL	134,116	$966K	0.4%	$7.95	—	COM	084597202
—	DU PONT E I DE NEMOUR&CO	14,269	$957K	0.4%	$54.17	—	COM	263534109
NOC	NORTHROP GRUMMAN CORP	7,640	$943K	0.4%	$63.97	+51.8%	COM	666807102
—	TYCO INTL LTD NEW	19,085	$809K	0.3%	$32.96	—	COM	902124106
ABT	ABBOTT LABORATORIES	20,957	$807K	0.3%	$28.89	+6.4%	COM	002824100
—	UNITED TECHNOLOGIES CORP	6,820	$797K	0.3%	$95.76	—	COM	913017109
KO	COCA COLA COMPANY	20,260	$783K	0.3%	$27.71	-4.2%	COM	191216100
TD	TORONTO DOMINION BK	16,525	$776K	0.3%	$43.35	+4.0%	COM	891160509
—	TOTAL FINA ELF S A ADR	11,780	$773K	0.3%	$65.62	—	COM	89151E113
ITW	ILLINOIS TOOL WORKS INC	9,325	$758K	0.3%	$52.93	+15.8%	COM	452308109
MO	ALTRIA GROUP INC	17,957	$672K	0.3%	$16.35	+4.7%	COM	02209S103
NSC	NORFOLK SOUTHERN CORP	6,627	$644K	0.3%	$57.82	+23.5%	COM	655844108
—	NEXTERA ENERGY INC.	6,555	$627K	0.3%	$81.69	—	COM	302571104
PFF	ISHARES TR S&P US PFD STK INDE	15,475	$604K	0.3%	$39.29	—	COM	464288687
AMGN	AMGEN INC COM	4,878	$602K	0.3%	$73.71	+17.9%	COM	031162100
PPL	PPL CORPORATION	17,760	$589K	0.3%	$16.37	+4.3%	COM	69351T106
CMCSA	COMCAST CORP NEW CL A	11,246	$563K	0.2%	$16.64	+19.9%	COM	20030N101
—	RAYTHEON COMPANY NEW	5,665	$560K	0.2%	$68.06	—	COM	755111507
CL	COLGATE-PALMOLIVE CO	8,464	$549K	0.2%	$45.18	+6.0%	COM	194162103
NVS	NOVARTIS A G SPON ADR	6,450	$548K	0.2%	$71.07	—	COM	66987V109
BP	BP PLC ADR	11,054	$532K	0.2%	$42.93	—	COM	055622104
—	BLACKROCK INC	1,611	$507K	0.2%	$257.83	—	COM	09247X101
—	SPECTRA ENERGY CORP	13,483	$498K	0.2%	$34.59	—	COM	847560109
DUK	DUKE ENERGY CORPORATION	6,488	$462K	0.2%	$41.62	+2.5%	COM	26441C204
AZN	ASTRAZENECA PLC ADR	6,955	$451K	0.2%	$48.13	—	COM	046353108
JFBC	JEFFERSONVILLE BANCORP	36,817	$442K	0.2%	$11.22	+5.7%	COM	47559A103
LOW	LOWES COMPANIES INC	9,005	$440K	0.2%	$32.54	+19.9%	COM	548661107
—	ALTEVA COM	50,691	$421K	0.2%	$9.88	—	COM	02153V102
CAG	CONAGRA FOODS INC	13,450	$417K	0.2%	$17.69	-9.3%	COM	205887102
MDU	M D U RESOURCES GROUP	11,946	$410K	0.2%	$6.58	+31.6%	COM	552690109
RSG	REPUBLIC SERVICES INC	11,900	$407K	0.2%	$26.37	+0.5%	COM	760759100
LLY	ELI LILLY & COMPANY	6,899	$406K	0.2%	$42.07	+5.9%	COM	532457108
DIS	DISNEY WALT HOLDING CO	5,064	$405K	0.2%	$56.39	+23.6%	COM	254687106
TEVA	TEVA PHARM INDS LTD ADRF	7,586	$401K	0.2%	$39.56	—	COM	881624209
SNY	SANOFI AVENTIS ADR	7,225	$378K	0.2%	$51.46	—	COM	80105N105
SO	THE SOUTHERN COMPANY	8,478	$373K	0.2%	$26.03	-2.9%	COM	842587107
—	KINDER MORGAN ENERGY LP	4,997	$370K	0.2%	$85.19	—	COM	494550106
HON	HONEYWELL INTERNATIONAL	3,960	$367K	0.2%	$53.84	+20.2%	COM	438516106
MTB	M & T BANK CORP	2,981	$362K	0.2%	$73.77	+12.8%	COM	55261F104
USB	US BANCORP DEL NEW	8,115	$348K	0.1%	$22.97	+19.0%	COM	902973304
—	CHICAGO BRIDGE & IRON NY	3,978	$347K	0.1%	$87.23	—	COM	167250109
—	NABORS INDS INC	13,125	$324K	0.1%	$15.32	—	COM	G6359F103
—	PENTAIR INC	4,033	$320K	0.1%	$57.78	—	COM	H6169Q108
SCHW	THE CHARLES SCHWAB CORP	11,625	$318K	0.1%	$16.25	+39.7%	COM	808513105
SLB	SCHLUMBERGER LTD F	3,260	$318K	0.1%	$52.90	+23.8%	COM	806857108
DRI	DARDEN RESTAURANTS INC	6,137	$312K	0.1%	$30.88	+1.5%	COM	237194105
KMB	KIMBERLY-CLARK CORP	2,770	$305K	0.1%	$62.25	+11.5%	COM	494368103
BCPC	BALCHEM CORP	5,630	$293K	0.1%	$41.81	+20.6%	COM	057665200
—	MONSANTO CO NEW DEL	2,508	$285K	0.1%	$105.08	—	COM	61166W101
—	ADT CORP COM	8,916	$267K	0.1%	$39.83	—	COM	00101J106
—	GOOGLE INC CLASS A	237	$264K	0.1%	$881.79	—	COM	38259P508
OXY	OCCIDENTAL PETE CORP	2,747	$262K	0.1%	$57.83	+8.0%	COM	674599105
RIG	TRANSOCEAN SEDCO FOREX	6,195	$256K	0.1%	$47.17	-7.8%	COM	H8817H100
DVA	DAVITA INC	3,675	$253K	0.1%	$66.44	0.0%	COM	23918K108
NKE	NIKE INC CLASS B	3,185	$235K	0.1%	$28.29	+15.1%	COM	654106103
ED	CONSOLIDATED EDISON INC	4,336	$233K	0.1%	$37.50	-6.7%	COM	209115104
ALCO	ALICO INC	5,952	$224K	0.1%	$36.45	-12.2%	COM	016230104
—	ANADARKO PETROLEUM CORP	2,505	$212K	0.1%	$84.63	—	COM	032511107
DE	DEERE & CO	2,290	$208K	0.1%	$70.10	0.0%	COM	244199105
LMT	LOCKHEED MARTIN CORP	1,265	$206K	0.1%	$113.36	0.0%	COM	539830109
ALB	ALBEMARLE CORP	3,020	$201K	0.1%	$54.27	0.0%	COM	012653101
—	NEW YORK COMNTY BANCORP	12,356	$199K	0.1%	$14.00	—	COM	649445103
—	TWO HBRS INVT CORP COM	12,000	$123K	0.1%	$9.75	—	COM	90187B101
—	RAPID FIRE MARKETING INC	2,135,000	$13,000	0.0%	$0.01	—	COM	75339L206
—	TRANZBYTE CORP COM	65,000	$6,000	0.0%	$0.09	—	COM	894117100
—	DISCOVERY CORP ENTERPRISES INC	34,000	$5,000	0.0%	$0.06	—	COM	25466Y109
CHMR	CHIMERA ENERGY CORP COM	16,600	$0	0.0%	—	—	COM	16934U100
—	BOREAL WATER COLLECTION INC CO	35,700	$0	0.0%	—	—	COM	09971P100
ASPR	ADSOUTH PARTNERS INC	10,001	$0	0.0%	$0.00	0.0%	COM	00737M200
—	VENTANA BIOTECH INC	10,000	$0	0.0%	—	—	COM	92277F109
—	WESTMONT RESOURCES INC COM PAR	445,350	$0	0.0%	—	—	COM	96081P302