Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
MMM	3M COMPANY	303,460	$41.17M	2.0%	$61.26	+24.5%	COM	88579Y101
—	DUPONT	609,820	$40.92M	2.0%	$52.50	—	COM	263534109
EMR	EMERSON ELECTRIC	595,597	$39.79M	1.9%	$40.02	+19.4%	COM	291011104
DIS	WALT DISNEY	463,940	$37.15M	1.8%	$56.11	+24.2%	COM	254687106
CL	COLGATE PALMOLIVE	571,099	$37.05M	1.8%	$44.38	+7.9%	COM	194162103
GLW	CORNING	1,704,820	$35.49M	1.7%	$10.50	+31.7%	COM	219350105
PEP	PEPSICO	414,834	$34.64M	1.7%	$56.01	+1.5%	COM	713448108
TDY	TELEDYNE TECHNOLOGIES	354,400	$34.49M	1.7%	$76.20	+24.5%	COM	879360105
—	PENTAIR ARS SZ	420,070	$33.33M	1.6%	$60.02	—	COM	H6169Q108
CHD	CHURCH AND DWIGHT	481,625	$33.27M	1.6%	$26.22	+7.5%	COM	171340102
—	NOVARTIS AG ADS	382,010	$32.48M	1.6%	$70.91	—	COM	66987v109
ABBNY	ABB LTD ADR	1,232,625	$31.79M	1.5%	$21.66	—	COM	000375204
JNJ	JOHNSON & JOHNSON	323,439	$31.77M	1.5%	$59.74	+11.5%	COM	478160104
GBX	THE GREENBRIER COMPANIES	684,865	$31.23M	1.5%	$17.08	+69.8%	COM	393657101
IFF	INTL FLAVORS& FRAGRANCES	325,195	$31.11M	1.5%	$58.18	+17.0%	COM	459506101
CNI	CANADIAN NATIONAL RAILWAY ADR	552,802	$31.08M	1.5%	$41.81	+6.6%	COM	136375102
IBM	IBM	153,615	$29.57M	1.4%	$118.82	-8.1%	COM	459200101
—	GENERAL ELECTRIC	1,121,787	$29.04M	1.4%	$23.19	—	COM	369604103
BNS	BANK OF NOVA SCOTIA ADR	498,803	$28.94M	1.4%	$30.35	+5.1%	COM	064149107
—	MTS SYSTEMS	418,025	$28.63M	1.4%	$57.70	—	COM	553777103
IP	INT'L PAPER	621,820	$28.53M	1.4%	$25.91	+5.1%	COM	460146103
ROK	ROCKWELL AUTOMATION	226,215	$28.18M	1.4%	$67.20	+39.6%	COM	773903109
UNP	UNION PACIFIC	150,021	$28.15M	1.4%	$57.06	+19.6%	COM	907818108
—	WALGREEN	423,263	$27.95M	1.4%	$44.20	—	COM	931422109
GILD	GILEAD SCIENCES	392,170	$27.79M	1.3%	$36.21	+50.5%	COM	375558103
—	BUNGE LTD ADR	348,525	$27.71M	1.3%	$70.77	—	COM	G16962105
—	C.R. BARD	186,760	$27.64M	1.3%	$108.68	—	COM	067383109
MKC	MCCORMICK & CO	370,430	$26.57M	1.3%	$28.14	-4.8%	COM	579780206
PG	PROCTER & GAMBLE	321,756	$25.93M	1.3%	$55.00	+2.7%	COM	742718109
FMC	FMC CORP	335,186	$25.66M	1.2%	$41.24	+22.5%	COM	302491303
—	TERRA NITROGEN CO LP	163,950	$24.95M	1.2%	$213.99	—	UNT	881005201
HON	HONEYWELL INT'L	268,002	$24.86M	1.2%	$53.13	+21.8%	COM	438516106
DE	DEERE AND CO	272,951	$24.78M	1.2%	$67.90	+3.2%	COM	244199105
KMB	KIMBERLY-CLARK	223,577	$24.65M	1.2%	$63.03	+10.1%	COM	494368103
—	DUN & BRADSTREET	245,635	$24.4M	1.2%	$97.45	—	COM	26483E100
—	MANULIFE FINL CORP ADR	1,242,330	$23.99M	1.2%	$16.16	—	COM	56510r106
TXN	TEXAS INSTRUMENTS	504,735	$23.8M	1.2%	$25.31	+26.2%	COM	882508104
—	KINDER MORGAN ENERGY LP	315,700	$23.35M	1.1%	$85.40	—	MLP	494550106
—	EXXON MOBIL	235,231	$22.98M	1.1%	$90.35	—	COM	30231g102
FLR	FLUOR	293,155	$22.79M	1.1%	$53.56	+29.2%	COM	343412102
HAL	HALLIBURTON COMPANY	385,575	$22.71M	1.1%	$38.49	+11.2%	COM	406216101
MET	METLIFE	425,245	$22.45M	1.1%	$24.57	+26.5%	COM	59156R108
CAT	CATERPILLAR	223,808	$22.24M	1.1%	$61.55	+13.2%	COM	149123101
BHP	BHP BILLITON LTD ADR	328,117	$22.24M	1.1%	$57.84	—	COM	088606108
V	VISA	100,990	$21.8M	1.1%	$47.08	+8.6%	COM	92826C839
—	S K TELECOM LTD ADR	946,575	$21.36M	1.0%	$20.33	—	COM	78440p108
WLY	JOHN WILEY & SONS	370,600	$21.36M	1.0%	$27.09	+45.5%	COM	968223206
AAPL	APPLE INC	38,685	$20.76M	1.0%	$13.25	+25.2%	COM	037833100
—	DISCOVERY COMMUNICATIONS	250,000	$20.68M	1.0%	$77.24	—	COM	25470F104
CNQ	CANADIAN NATURAL RESOURCES ADR	529,585	$20.32M	1.0%	$8.82	+18.8%	COM	136385101
DCI	DONALDSON	473,000	$20.05M	1.0%	$29.49	+17.1%	COM	257651109
A	AGILENT TECHNOLOGIES	356,710	$19.95M	1.0%	$28.55	+30.7%	COM	00846U101
NSRGY	NESTLE SA ADR	264,010	$19.86M	1.0%	$66.22	—	COM	641069406
ADP	AUTOMATIC DATA PROCESSING	254,924	$19.7M	1.0%	$45.09	+16.3%	COM	053015103
AVY	AVERY DENNISON	383,115	$19.41M	0.9%	$39.54	0.0%	COM	053611109
—	BROOKFIELD INFRASTRUCTURE PART	470,185	$18.55M	0.9%	$36.52	—	UNT	g16252101
LEG	LEGGETT & PLATT	562,980	$18.38M	0.9%	$32.56	-4.9%	COM	524660107
BDC	BELDEN	260,000	$18.1M	0.9%	$48.78	+37.2%	COM	077454106
—	PALL	201,425	$18.02M	0.9%	$66.43	—	COM	696429307
BASFY	BASF ADR	158,110	$17.61M	0.9%	$89.49	—	COM	055262505
FDX	FEDEX CORPORATION	131,827	$17.48M	0.8%	$81.95	+40.5%	COM	31428X106
—	JOHNSON CONTROLS	363,025	$17.18M	0.8%	$41.50	—	COM	478366107
—	SUNEDISON	910,620	$17.16M	0.8%	$18.25	—	COM	86732Y109
—	CERNER	304,175	$17.11M	0.8%	$75.48	—	COM	156782104
—	DRESSER-RAND GROUP	285,415	$16.67M	0.8%	$59.98	—	COM	261608103
XYL	XYLEM	456,800	$16.64M	0.8%	$23.40	+34.0%	COM	98419M100
PHG	KONINKLIJKE PHILIPS NV ADR	468,915	$16.49M	0.8%	$36.17	—	COM	500472303
OMC	OMNICOM GROUP	225,000	$16.34M	0.8%	$40.69	+22.2%	COM	681919106
F	FORD MOTOR	1,045,865	$16.32M	0.8%	$8.65	-3.2%	COM	345370860
—	WESTPAC BANKING ADR	477,000	$15.29M	0.7%	$50.72	—	COM	961214301
T	AT&T	434,271	$15.23M	0.7%	$11.39	-4.7%	COM	00206R102
HTHIY	HITACHI LTD ADR	200,000	$14.86M	0.7%	$64.56	—	COM	433578507
—	MEDTRONIC	240,410	$14.79M	0.7%	$61.54	—	COM	585055106
—	HOWARD HUGHES CORP	100,000	$14.27M	0.7%	$120.10	—	COM	44267D107
SAP	SAP AG ADR	172,900	$14.06M	0.7%	$73.46	—	COM	803054204
—	MCGRAW-HILL FINANCIAL	183,750	$14.02M	0.7%	$74.82	—	COM	580645109
—	JDS UNIPHASE	1,000,000	$14M	0.7%	$14.39	—	COM	46612J507
SPH	SUBURBAN PROPANE PARTNERS LP	329,025	$13.67M	0.7%	$46.45	—	MLP	864482104
—	UNILEVER N V - NEW YORK SHS AD	326,500	$13.43M	0.6%	$39.31	—	COM	904784709
—	TEEKAY LNG PARTNERS LP	312,624	$12.92M	0.6%	$43.71	—	UNT	Y8564M105
—	TRANSCANADA CORP ADR	280,247	$12.76M	0.6%	$43.11	—	COM	89353D107
FCX	FREEPORT MCMORAN COPPER	373,650	$12.36M	0.6%	$25.72	+10.7%	COM	35671D857
KO	COCA-COLA	313,400	$12.12M	0.6%	$27.85	-4.7%	COM	191216100
IVZ	INVESCO LTD	320,500	$11.86M	0.6%	$20.87	0.0%	COM	G491BT108
BCE	B C E	268,680	$11.59M	0.6%	$22.29	-3.5%	COM	05534B760
TKR	TIMKEN	182,650	$10.74M	0.5%	$41.09	0.0%	COM	887389104
ARLP	ALLIANCE RESOURCE PARTNERS LP	120,065	$10.1M	0.5%	$74.48	—	MLP	01877R108
SBGSF	SCHNEIDER ELECTRIC SA ORD - FR	113,500	$10.07M	0.5%	$86.47	0.0%	COM	F86921107
—	ALCATEL-LUCENT ADR	2,540,000	$9.906M	0.5%	$3.96	—	COM	013904305
—	BP PRUDHOE BAY ROYALTY TRUST	100,000	$8.444M	0.4%	$96.27	—	UNT	055630107
VET	VERMILION ENERGY CA	95,385	$5.957M	0.3%	$56.32	+1.8%	COM	923725105
—	SEASPAN CORP - HK	200,000	$4.414M	0.2%	$20.75	—	COM	Y75638109
—	EMC CORP	148,125	$4.06M	0.2%	$23.68	—	COM	268648102
—	PLUM CREEK TIMBER	75,860	$3.189M	0.2%	$46.68	—	COM	729251108
—	ROYAL DUTCH SHELL PLC ADR A	43,110	$3.15M	0.2%	$63.80	—	COM	780259206
WY	WEYERHAEUSER	79,050	$2.32M	0.1%	$18.82	+1.1%	COM	962166104
—	KRAFT FOODS GROUP	40,584	$2.277M	0.1%	$55.87	—	COM	50076Q106
—	SILVER WHEATON - CA	100,110	$2.272M	0.1%	$22.70	—	COM	828336107
PFE	PFIZER	68,579	$2.203M	0.1%	$16.51	+10.3%	COM	717081103
EFX	EQUIFAX	31,766	$2.161M	0.1%	$53.06	+17.2%	COM	294429105
NSC	NORFOLK SOUTHERN	20,495	$1.991M	0.1%	$57.82	+23.5%	COM	655844108
NEE	NEXTERA ENERGY	17,265	$1.651M	0.1%	$14.15	+17.1%	COM	65339F101
—	SUNCOR ENERGY CA	46,150	$1.613M	0.1%	$35.04	—	COM	867244107
—	CANADIAN PACIFIC RAILWAY LTD	10,585	$1.592M	0.1%	$121.41	—	COM	13645T100
PH	PARKER-HANNIFIN	12,472	$1.493M	0.1%	$75.97	+29.6%	COM	701094104
—	UNITED TECHNOLOGIES	11,625	$1.358M	0.1%	$92.93	—	COM	913017109
BMY	BRISTOL-MYERS SQUIBB	22,680	$1.178M	0.1%	$29.08	+23.5%	COM	110122108
—	BB&T	28,052	$1.127M	0.1%	$34.43	—	COM	054937107
—	HEALTH CARE REIT	18,180	$1.084M	0.1%	$65.58	—	COM	42217K106
RY	ROYAL BANK CANADA MONTREAL	14,527	$959K	0.0%	$59.71	+8.3%	COM	780087102
DUK	DUKE ENERGY CORP NEW	12,646	$901K	0.0%	$42.36	+0.7%	COM	26441C204
QCOM	QUALCOMM	11,125	$877K	0.0%	$45.59	+18.5%	COM	747525103
—	GLAXOSMITHKLINE PLC ADR	13,720	$733K	0.0%	$49.97	—	COM	37733w105
MSFT	MICROSOFT	16,650	$682K	0.0%	$26.98	+15.9%	COM	594918104
LOW	LOWES	13,330	$652K	0.0%	$39.01	0.0%	COM	548661107
—	UNILEVER PLC ADR	14,935	$639K	0.0%	$40.45	—	COM	904767704
CSCO	CISCO SYSTEMS	27,675	$620K	0.0%	$15.85	-3.5%	COM	17275R102
WFC	WELLS FARGO & CO NEW	11,709	$582K	0.0%	$30.19	+10.7%	COM	949746101
—	BAKER HUGHES	8,700	$566K	0.0%	$65.06	—	COM	057224107
RIO	RIO TINTO PLC SPON ADR	9,100	$508K	0.0%	$41.10	—	COM	767204100
CPB	CAMPBELL SOUP	11,300	$507K	0.0%	$30.86	-3.7%	COM	134429109
—	PIEDMONT NATURAL GAS	12,200	$432K	0.0%	$33.77	—	COM	720186105
BAYRY	BAYER ADR	2,950	$399K	0.0%	$106.67	—	COM	072730302
BRK/B	BERKSHIRE HATHAWAY CL B	3,000	$375K	0.0%	$115.36	+1.3%	COM	084670702
—	POTASH CORP SASK INC COM	8,535	$309K	0.0%	$33.42	—	COM	73755L107
—	BT GROUP PLC ADR	3,850	$246K	0.0%	$55.32	—	COM	05577e101
CMI	CUMMINS INC	1,600	$238K	0.0%	$89.10	+13.7%	COM	231021106
—	TECHNIP ADR	9,000	$234K	0.0%	$25.30	—	COM	878546209
VZ	VERIZON COMMUNICATIONS	4,275	$203K	0.0%	$26.60	-2.7%	COM	92343V104
BAX	BAXTER INTERNATIONAL INC	2,745	$202K	0.0%	$30.34	0.0%	COM	071813109
BAC	BANK OF AMERICA CORP	10,900	$187K	0.0%	$11.68	+13.5%	COM	060505104