TY 2011 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

or Section 4947(a)(1) Nonexempt Charitable Trust
Treated as a Private Foundation

Note. The foundation may be able to use a copy of this return to satisfy state reporting requirements.

OMB No. 1545-0052

2011

For calendar year 2011, or tax year beginning 01-01-2011 , and ending 12-31-2011

Check all that apply:Initial returnInitial return of a former public charityFinal return

Amended returnAddress changeName change

Name of foundation
DAHL FAMILY FOUNDATION 1035011887

Number and street (or P.O. box number if mail is not delivered to street address)230 FRONT STREET NORTH Room/suite

City or town, state, and ZIP code
LA CROSSE, WI54601

A Employer identification number

20-0506791

B Telephone number (see page 10 of the instructions)

(608) 782-1148

C If exemption application is pending, check here bullet

D 1. Foreign organizations, check here . bullet

H Check type of organization: Section 501(c)(3) exempt private foundation
Section 4947(a)(1) nonexempt charitable trustOther taxable private foundation 2. Foreign organizations meeting the 85% test,
check here and attach computation bullet

I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16) bullet

$3,862,911J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

E If private foundation status was terminated
under section 507(b)(1)(A), check here bullet

F If the foundation is in a 60-month termination
under section 507(b)(1)(B), check here bullet

	Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see page 11 of the instructions).)	(a) Revenue and expenses per books		(b) Net investment income	(c) Adjusted net income	(d) Disbursements for charitable purposes (cash basis only)


1	Contributions, gifts, grants, etc., received (attach schedule)	3,481,777
2	Check
3	Interest on savings and temporary cash investments
4	Dividends and interest from securities......	53,086		53,086
5a	Gross rents..............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		50,926
b	Gross sales price for all assets on line 6a 3,356,534
7	Capital gain net income (from Part IV, line 2)...			50,926
8	Net short-term capital gain.........				0
9	Income modifications...........
10a	Gross sales less returns and allowances
b	Less: Cost of goods sold....
c	Gross profit or (loss) (attach schedule).....
11	Other income (attach schedule).......
12	Total. Add lines 1 through 11........	3,585,789		104,012
13	Compensation of officers, directors, trustees, etc.	13,931		13,931
14	Other employee salaries and wages......			0	0	0
15	Pension plans, employee benefits.......			0	0
16a	Legal fees (attach schedule).........					0
b	Accounting fees (attach schedule).......		775	0	0	775
c	Other professional fees (attach schedule)....		5,923	5,923		0
17	Interest...............					0
18	Taxes (attach schedule) (see page 14 of the instructions)		596	596		0
19	Depreciation (attach schedule) and depletion...		0	0
20	Occupancy..............
21	Travel, conferences, and meetings.......			0	0
22	Printing and publications..........			0	0
23	Other expenses (attach schedule).......		22	12		10
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	21,247		20,462	0	785
25	Contributions, gifts, grants paid........	206,649				206,649
26	Total expenses and disbursements. Add lines 24 and 25	227,896		20,462	0	207,434
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	3,357,893
b	Net investment income (if negative, enter -0-)			83,550
c	Adjusted net income (if negative, enter -0-)...				0

For Privacy Act and Paperwork Reduction Act Notice, see page 30 of the instructions.

Cat. No. 11289X Form 990-PF (2011)

Form 990-PF (2011)

Page 2

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing...............
	2	Savings and temporary cash investments..........
	3	Accounts receivable
		Less: allowance for doubtful accounts		0	0
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see page 15 of the
		instructions)....................
	7	Other notes and loans receivable (attach schedule)
		Less: allowance for doubtful accounts 0
	8	Inventories for sale or use...............
	9	Prepaid expenses and deferred charges...........
	10a	Investments—U.S. and state government obligations (attach schedule)
	b	Investments—corporate stock (attach schedule)........
	c	Investments—corporate bonds (attach schedule)........
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans..............
	13	Investments—other (attach schedule)...........			0
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )	688,147	4,038,935	3,862,911
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	688,147	4,038,935	3,862,911
	17	Accounts payable and accrued expenses..........
	18	Grants payable...................
	19	Deferred revenue..................
	20	Loans from officers, directors, trustees, and other disqualified persons
	21	Mortgages and other notes payable (attach schedule)......
	22	Other liabilities (describe )
	23	Total liabilities (add lines 17 through 22)..........		0
		Foundations that follow SFAS 117, check here
		and complete lines 24 through 26 and lines 30 and 31.
	24	Unrestricted....................
	25	Temporarily restricted................
	26	Permanently restricted................
		Foundations that do not follow SFAS 117, check here
		and complete lines 27 through 31.
	27	Capital stock, trust principal, or current funds.........	688,147	4,038,935
	28	Paid-in or capital surplus, or land, bldg., and equipment fund
	29	Retained earnings, accumulated income, endowment, or other funds
	30	Total net assets or fund balances (see page 17 of the
		instructions)....................	688,147	4,038,935
	31	Total liabilities and net assets/fund balances (see page 17 of
		the instructions)..................	688,147	4,038,935

Part III	Analysis of Changes in Net Assets or Fund Balances
1	Total net assets or fund balances at beginning of year—Part II, column (a), line 30 (must agree
	with end-of-year figure reported on prior year’s return)...............	1	688,147
2	Enter amount from Part I, line 27a.....................	2	3,357,893
3	Other increases not included in line 2 (itemize)	3	0
4	Add lines 1, 2, and 3..........................	4	4,046,040
5	Decreases not included in line 2 (itemize)	5	7,105
6	Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30.	6	4,038,935

Form 990-PF (2011)

Page 3

Part IV

Capital Gains and Losses for Tax on Investment Income

(a) List and describe the kind(s) of property sold (e.g., real estate, 2-story brick warehouse; or common stock, 200 shs. MLC Co.)		(b) How acquired P—Purchase D—Donation	(c) Date acquired (mo., day, yr.)	(d) Date sold (mo., day, yr.)
1 a	154.552 ALLIANZ NFJ DIVIDEND VALUE INST		2008-12-16	2011-02-03
b	301.914 AMERICAN BEACON INTERNAT'L EQUITY		2007-12-28	2011-02-03
c	89.575 AMERICAN EUROPACIFIC GROWTH FUND CL F2		2009-09-03	2011-02-03
d	896.677 FEDERATED ULTRASHORT BOND INSTL		2010-03-08	2011-02-03
e	629.442 FEDERATED MORTGAGE INSTITUTIONAL		2004-01-14	2011-02-03
	197.258 HARBOR CAPITAL APPRECIATION FUND		2004-01-14	2011-02-03
	379.415 LOOMIS SAYLES GLOBAL BOND FUND I		2009-12-21	2011-02-03
	871.316 PIMCO TOTAL RETURN INSTL		2009-12-21	2011-02-03
	4802.176 RIDGEWORTH LARGE CAP CORE GROWTH STOCK F		2008-12-02	2011-04-01
	582.072 RIDGEWORTH LARGE CAP CORE GROWTH STOCK F		2011-02-03	2011-04-01
	189.12 ALLIANZ NFJ DIVIDEND VALUE INST		2008-12-16	2011-05-23
	12.077 GOLDMAN SACHS MID CAP VALUE FUND		2009-10-29	2011-05-23
	36.505 GOLDMAN SACHS SMALL VALUE IS		2004-01-14	2011-05-23
	69.009 HARBOR CAPITAL APPRECIATION FUND		2004-01-14	2011-05-23
	14.749 LOOMIS SAYLES GLOBAL BOND FUND I		2007-05-16	2011-05-23
	88. TIMES SQUARE MID CAP GROWTH INSTL		2009-10-29	2011-05-23
	166.203 MORGAN STANLEY INSTL SMALL COMPANY GROWT		2004-04-05	2011-05-23
	9.472 PIMCO TOTAL RETURN INSTL		2009-12-21	2011-05-23
	28.301 PIMCO REAL RETURN FUND		2009-12-21	2011-05-23
	86.083 VANGUARD CONVERTIBLE SEC		2004-01-14	2011-05-23
	44.141 VANGUARD LARGE CAP CORE INDEX SIGNAL		2011-04-04	2011-05-23
	116. ABAXIS INC		2011-06-09	2011-06-24
	512. ALLSCRIPTS HEALTHCARE SOLUTIONS INC		2011-06-09	2011-06-24
	151. ALTRIA GROUP INC		2011-06-09	2011-06-24
	111. AMERICA MOVIL SA DE CV		2011-06-09	2011-06-24
	301. AMERISOURCEBERGEN CORP		2011-06-09	2011-06-24
	73. ANIXTER INTERNATIONAL INC		2011-06-09	2011-06-24
	436. ANSYS INC		2011-06-09	2011-06-24
	82. APACHE CORP		2011-06-09	2011-06-24
	53. APPLE INC		2011-06-09	2011-06-24
	177. ASHLAND INC		2011-06-09	2011-06-24
	76. AUTOZONE INC		2011-06-09	2011-06-24
	10. BANCO SANTANDER CHILE		2011-06-09	2011-06-24
	269. BANCOLOMBIA SA SPONSORED ADR		2011-06-09	2011-06-24
	336. BEACON ROOFING SUPPLY INC		2011-06-09	2011-06-24
	231. BERRY PETROLEUM CO CLASS A		2011-06-09	2011-06-24
	328. BIO-REFERENCE LABORATORIES INC		2011-06-09	2011-06-24
	28. CNOOC LTD SPONSORED ADR		2011-06-09	2011-06-24
	100. CABOT MICROELECTRONICS CORP		2011-06-09	2011-06-24
	73. CANADIAN NATL RAILWAY CO		2011-06-09	2011-06-24
	208. CARPENTER TECHNOLOGY CORP		2011-06-09	2011-06-24
	48. CASS INFORMATION SYSTEMS INC		2011-06-09	2011-06-24
	94. CATALYST HEALTH SOLUTIONS		2011-06-09	2011-06-24
	900. CEPHEID INC		2011-06-09	2011-06-24
	225. CHEESECAKE FACTORY INC		2011-06-09	2011-06-24
	260. CHEMED CORP		2011-06-09	2011-06-24
	172. CHEVRONTEXACO CORP		2011-06-09	2011-06-24
	396. CHICAGO BRIDGE & IRON CO NV		2011-06-09	2011-06-24
	56. COLGATE-PALMOLIVE CO		2011-06-09	2011-06-24
	211. COMPANHIA DE BEDIDAS DAS AMERICAS		2011-06-09	2011-06-24
	59. CONCUR TECHNOLOGIES INC		2011-06-09	2011-06-24
	233. CONOCOPHILLIPS		2011-06-09	2011-06-24
	221. COSTAR GROUP INC		2011-06-09	2011-06-24
	86. COVANCE INC		2011-06-09	2011-06-24
	517. DEALERTRACK HOLDINGS INC		2011-06-09	2011-06-24
	7. DEVON ENERGY CORP		2011-06-09	2011-06-24
	815. DIGI INTERNATIONAL INC		2011-06-09	2011-06-24
	122. DOMTAR CORP		2011-06-09	2011-06-24
	303. DOVER CORP		2011-06-09	2011-06-24
	706. EMC CORP		2011-06-09	2011-06-24
	245. EMERSON ELECTRIC CO		2011-06-09	2011-06-24
	5. DELHAIZE GROUP SPONSORED ADR		2011-06-09	2011-06-24
	262. EXXON MOBIL CORP		2011-06-09	2011-06-24
	195. FARO TECHNOLOGIES INC		2011-06-09	2011-06-24
	72. FOMENTO ECONOMICO MEXICANO ADR		2011-06-09	2011-06-24
	3000. FORD MOTOR CO		2011-06-09	2011-06-24
	372. FORRESTER RESEARCH INC		2011-06-09	2011-06-24
	155. FORTUNE BRANDS INC		2011-06-09	2011-06-24
	397. FORWARD AIR CORP		2011-06-09	2011-06-24
	586. FREEPORT MCMORAN COPPER & GOLD CL B		2011-06-09	2011-06-24
	227. GAYLORD ENTERTAINMENT CO		2011-06-09	2011-06-24
	208. GENESCO INC		2011-06-09	2011-06-24
	441. GENTEX CORP		2011-06-09	2011-06-24
	419. GROUP CGI INC CLASS A		2011-06-09	2011-06-24
	190. HONEYWELL INTERNATIONAL INC		2011-06-09	2011-06-24
	286. HUMANA INC		2011-06-09	2011-06-24
	195. IPC THE HOSPITALIST CO INC		2011-06-09	2011-06-24
	241. INNERWORKINGS INC		2011-06-09	2011-06-24
	757. INTEL CORP		2011-06-09	2011-06-24
	110. INTERNATIONAL BUSINESS MACHINES CORP		2011-06-09	2011-06-24
	4069. ISHARES RUSSELL MID CAP ETF		2011-06-09	2011-06-24
	184. J P MORGAN CHASE & CO		2011-06-09	2011-06-24
	561. LKQ CORP		2011-06-09	2011-06-24
	151. LABORATORY CORP OF AMERICA HLDGS		2011-06-09	2011-06-24
	415. MARATHON OIL CORP		2011-06-09	2011-06-24
	162. MAXIMUS INC		2011-06-09	2011-06-24
	26. MEDNAX INC		2011-06-09	2011-06-24
	700. MOBILE MINI INC		2011-06-09	2011-06-24
	86. MUELLER INDUSTRIES INC		2011-06-09	2011-06-24
	511. NATIONAL INSTRUMENTS CORP		2011-06-09	2011-06-24
	365. NEOGEN CORP		2011-06-09	2011-06-24
	118. NESTLE S A ADR		2011-06-09	2011-06-24
	99. NIKE INC CLASS B		2011-06-09	2011-06-24
	65. OCCIDENTAL PETROLEUM CORP		2011-06-09	2011-06-24
	398. PAREXEL INTERNATIONAL CORP		2011-06-09	2011-06-24
	214. PHILLIP MORRIS INTL INC		2011-06-09	2011-06-24
	7. PINNACLE WEST CAPITAL CORP		2011-06-09	2011-06-24
	76. PORTFOLIO RECOVERY ASSOCIATES		2011-06-09	2011-06-24
	371. POST PROPERTIES INC		2011-06-09	2011-06-24
	360. POWER INTEGRATIONS INC		2011-06-09	2011-06-24
	209. PRAXAIR INC		2011-06-09	2011-06-24
	41. T ROWE PRICE GROUP INC		2011-06-09	2011-06-24
	173. QUALCOMM INC		2011-06-09	2011-06-24
	168. QUALITY SYSTEMS INC		2011-06-09	2011-06-24
	716. ROLLINS INC		2011-06-09	2011-06-24
	141. SCHLUMBERGER LTD		2011-06-09	2011-06-24
	430. SEMTECH CORP		2011-06-09	2011-06-24
	71. SNAP-ON TOOLS CORP		2011-06-09	2011-06-24
	355. STARBUCKS CORP		2011-06-09	2011-06-24
	381. STATOIL ASA SPONSORED ADR		2011-06-09	2011-06-24
	103. STRATASYS INC		2011-06-09	2011-06-24
	29. TECHNE CORP		2011-06-09	2011-06-24
	173. TEMPUR PEDIC INTERNATIONAL INC		2011-06-09	2011-06-24
	153. TIM PARTICIPACOES SA ADR		2011-06-09	2011-06-24
	164. TIME WARNER CABLE INC		2011-06-09	2011-06-24
	324. U S BANCORP DEL		2011-06-09	2011-06-24
	305. ULTIMATE SOFTWARE GROUP INC		2011-06-09	2011-06-24
	356. UNITED NATURAL FOODS INC		2011-06-09	2011-06-24
	281. UNITED TECHNOLOGIES CORP		2011-06-09	2011-06-24
	210. UNIVERSAL TECHNICAL INSTITUTE INC		2011-06-09	2011-06-24
	188. VERINT SYSTEMS INC		2011-06-09	2011-06-24
	263. WATSON PHARMACEUTICALS		2011-06-09	2011-06-24
	399. YANZHOU COAL MINING LTD		2011-06-09	2011-06-24
	210. ACCENTURE PLC		2011-06-09	2011-06-24
	391. HERBALIFE LTD		2011-06-09	2011-06-24
	218. INGERSOLL-RAND PUBLIC LIMITED CO		2011-06-09	2011-06-24
	274. CHECK POINT SOFTWARE		2011-06-09	2011-06-24
	74. STEINER LEISURE LTD		2011-06-09	2011-06-24
	2. ALLSCRIPTS HEALTHCARE SOLUTIONS INC		2011-06-09	2011-07-05
	1. ALLSTATE CORP		2011-06-09	2011-07-05
	6. AMERICAN EXPRESS CO		2011-06-24	2011-07-05
	4. ANGIODYNAMICS INC		2011-06-09	2011-07-05
	2. ANIXTER INTERNATIONAL INC		2011-06-09	2011-07-05
	3. APACHE CORP		2011-06-09	2011-07-05
	4. ASHLAND INC		2011-06-09	2011-07-05
	4. ATMOS ENERGY CORP		2011-06-24	2011-07-05
	2. AUTOLIV INC		2011-06-24	2011-07-05
	6. BAE SYSTEMS PLC ADR		2011-06-24	2011-07-05
	4. BASF AG SPONSORED ADR		2011-06-24	2011-07-05
	1. BANK OF AMERICA CORP		2011-06-24	2011-07-05
	1. BAYER AG SPONSORED ADR		2011-06-24	2011-07-05
	1. BECTON DICKINSON & CO		2011-06-24	2011-07-05
	24. BEMIS CO INC		2011-06-24	2011-07-05
	1. BIO RAD LABS INC CLASS A		2011-06-09	2011-07-05
	19. BIOMED REALTY TRUST		2011-06-09	2011-07-05
	4. BRADY CORP		2011-06-24	2011-07-05
	25. BROOKLINE BANCORP INC		2011-06-24	2011-07-05
	14. CBL & ASSOCIATES PROPERTIES INC		2011-06-24	2011-07-05
	1. CME GROUP INC		2011-06-24	2011-07-05
	8. CABOT MICROELECTRONICS CORP		2011-06-09	2011-07-05
	120. CAL DIVE INTERNATIONAL INC		2011-06-24	2011-07-05
	4. CANADIAN NATL RAILWAY CO		2011-06-09	2011-07-05
	2. CAPITAL ONE FINANCIAL CORP		2011-06-24	2011-07-05
	1. CASS INFORMATION SYSTEMS INC		2011-06-09	2011-07-05
	34. CELESTICA INC		2011-06-24	2011-07-05
	24. CEPHEID INC		2011-06-09	2011-07-05
	5. CERNER CORP		2011-06-24	2011-07-05
	9. CHEESECAKE FACTORY INC		2011-06-09	2011-07-05
	3. CHEVRONTEXACO CORP		2011-06-09	2011-07-05
	21. CHICAGO BRIDGE & IRON CO NV		2011-06-09	2011-07-05
	4. CHINA PETROLEUM & CHEMICAL CORP ADR		2011-06-24	2011-07-05
	2. COCA COLA CO		2011-06-24	2011-07-05
	11. COLONIAL PROPERTIES TRUST		2011-06-24	2011-07-05
	6. COLONY FINANCIAL INC		2011-06-24	2011-07-05
	5. COMMUNITY TRUST BANCORP INC		2011-06-24	2011-07-05
	9. COMPANHIA DE BEDIDAS DAS AMERICAS		2011-06-09	2011-07-05
	1. CONOCOPHILLIPS		2011-06-09	2011-07-05
	1. COSTAR GROUP INC		2011-06-09	2011-07-05
	43. COUSINS PROPERTIES INC		2011-06-24	2011-07-05
	2. COVANCE INC		2011-06-09	2011-07-05
	1. DBS GROUP HOLDINGS LTD ADR		2011-06-24	2011-07-05
	10. DEALERTRACK HOLDINGS INC		2011-06-09	2011-07-05
	21. DIGI INTERNATIONAL INC		2011-06-09	2011-07-05
	4. DISNEY (WALT) CO		2011-06-24	2011-07-05
	6. DOVER CORP		2011-06-09	2011-07-05
	6. DU PONT (E I) DE NEMOURS & CO		2011-06-24	2011-07-05
	4. EMC CORP		2011-06-09	2011-07-05
	7. ENI SPA SPONSORED ADR		2011-06-24	2011-07-05
	22. EBAY INC		2011-06-09	2011-07-05
	12. ECHO GLOBAL LOGISTICS INC		2011-06-24	2011-07-05
	4. EMERSON ELECTRIC CO		2011-06-09	2011-07-05
	1231.341 AMERICAN EUROPACIFIC GROWTH FUND CL F2		2004-01-14	2011-07-05
	487.266 AMERICAN EUROPACIFIC GROWTH FUND CL F2		2011-06-14	2011-07-05
	2. EXXON MOBIL CORP		2011-06-09	2011-07-05
	6. FARO TECHNOLOGIES INC		2011-06-09	2011-07-05
	13. FASTENAL CO		2011-06-24	2011-07-05
	6. FINANCIAL ENGINES INC		2011-06-24	2011-07-05
	56. FIRST COMMONWEALTH FINANCIAL		2011-06-24	2011-07-05
	7. FOMENTO ECONOMICO MEXICANO ADR		2011-06-09	2011-07-05
	1. FORWARD AIR CORP		2011-06-09	2011-07-05
	10. FOSTER LB CO		2011-06-24	2011-07-05
	25. FREEPORT MCMORAN COPPER & GOLD CL B		2011-06-09	2011-07-05
	17. GAZPROM OAO ADR		2011-06-24	2011-07-05
	11. GENERAL ELECTRIC CO		2011-06-24	2011-07-05
	29. GENESCO INC		2011-06-09	2011-07-05
	4. GENTEX CORP		2011-06-09	2011-07-05
	643.334 GOLDMAN SACHS MID CAP VALUE FUND		2009-10-29	2011-07-05
	861.043 GOLDMAN SACHS SMALL VALUE IS		2011-06-14	2011-07-05
	1367.121 GOLDMAN SACHS SMALL VALUE IS		2007-12-28	2011-07-05
	1. GOOGLE INC CLASS A		2011-06-24	2011-07-05
	7. GRAND CANYON EDUCATION INC		2011-06-24	2011-07-05
	33. GROUP CGI INC CLASS A		2011-06-09	2011-07-05
	16. GUIDANCE SOFTWARE INC		2011-06-24	2011-07-05
	2. HANCOCK JOHN BK & THRIFT OPPORTUNITY FD		2011-06-09	2011-07-05
	125.203 HARBOR CAPITAL APPRECIATION FUND		2011-06-14	2011-07-05
	2333.612 HARBOR CAPITAL APPRECIATION FUND		2004-01-14	2011-07-05
	7. HEARTLAND EXPRESS INC		2011-06-24	2011-07-05
	3. HITACHI LTD SPONSORED ADR		2011-06-24	2011-07-05
	5. HONEYWELL INTERNATIONAL INC		2011-06-09	2011-07-05
	11. INNERWORKINGS INC		2011-06-09	2011-07-05
	6. INTEGRA LIFESCIENCES HOLDINGS CORP		2011-06-24	2011-07-05
	2. INTEL CORP		2011-06-09	2011-07-05
	1. INTERNATIONAL BUSINESS MACHINES CORP		2011-06-09	2011-07-05
	1. INTUITIVE SURGICAL INC		2011-06-24	2011-07-05
	24. ISHARES RUSSELL MID CAP ETF		2011-06-09	2011-07-05
	2. J P MORGAN CHASE & CO		2011-06-09	2011-07-05
	13. JOHNSON CONTROLS		2011-06-24	2011-07-05
	8. JUNIPER NETWORKS INC		2011-06-09	2011-07-05
	8. LKQ CORP		2011-06-09	2011-07-05
	5. LANDEC CORP		2011-06-24	2011-07-05
	24. LATTICE SEMICONDUCTOR CORP		2011-06-24	2011-07-05
	3. MACK-CALI REALTY CORP		2011-06-24	2011-07-05
	1642.575 TIMES SQUARE MID CAP GROWTH INSTL		2009-10-29	2011-07-05
	1. MC DONALDS CORP		2011-06-24	2011-07-05
	8. MEDTOX SCIENTIFIC INC		2011-06-24	2011-07-05
	9. MICROSOFT CORP		2011-06-24	2011-07-05
	11. MOBILE MINI INC		2011-06-09	2011-07-05
	2708.186 MORGAN STANLEY INSTL SMALL COMPANY GROWT		2011-06-14	2011-07-05
	4030.359 MORGAN STANLEY INSTL SMALL COMPANY GROWT		2004-04-05	2011-07-05
	22. MUELLER INDUSTRIES INC		2011-06-09	2011-07-05
	4. NACCO INDUSTRIES INC		2011-06-24	2011-07-05
	21. NATIONAL INSTRUMENTS CORP		2011-06-09	2011-07-05
	9. NATIONAL-OILWELL INC		2011-06-24	2011-07-05
	11. NATIONAL PENN BANCSHARES INC		2011-06-24	2011-07-05
	6. NEOGEN CORP		2011-06-09	2011-07-05
	2. NICOR INC		2011-06-24	2011-07-05
	3. OCCIDENTAL PETROLEUM CORP		2011-06-09	2011-07-05
	53. OLD NATIONAL BANCORP		2011-06-24	2011-07-05
	4. OMNICOM GROUP INC		2011-06-24	2011-07-05
	4. PAPA JOHN'S INT'L INC		2011-06-24	2011-07-05
	3. PAREXEL INTERNATIONAL CORP		2011-06-09	2011-07-05
	77. PETROLEUM DEVELOPMENT CORP		2011-06-24	2011-07-05
	23. PHOTRONICS INC		2011-06-24	2011-07-05
	11. PIEDMONT NATURAL GAS CO		2011-06-24	2011-07-05
	4. PINNACLE WEST CAPITAL CORP		2011-06-09	2011-07-05
	10. POLYONE CORP		2011-06-24	2011-07-05
	8. POST PROPERTIES INC		2011-06-09	2011-07-05
	9. POWER INTEGRATIONS INC		2011-06-09	2011-07-05
	2. PRAXAIR INC		2011-06-09	2011-07-05
	6. T ROWE PRICE GROUP INC		2011-06-09	2011-07-05
	18. PROVIDENT FINANCIAL SERVICES		2011-06-24	2011-07-05
	3. PUBLIC SERVICE ENTERPRISE GROUP INC		2011-06-24	2011-07-05
	3. QUALCOMM INC		2011-06-09	2011-07-05
	3. QUALITY SYSTEMS INC		2011-06-09	2011-07-05
	2. RESOURCES CONNECTION INC		2011-06-24	2011-07-05
	6. RIO TINTO PLC SPONSORED ADR		2011-06-24	2011-07-05
	12. RITCHIE BROS AUCTIONEERS INC		2011-06-24	2011-07-05
	14. ROLLINS INC		2011-06-09	2011-07-05
	2. SCHLUMBERGER LTD		2011-06-09	2011-07-05
	15. SEMTECH CORP		2011-06-09	2011-07-05
	1. SIEMENS AG SPONSORED ADR		2011-06-24	2011-07-05
	6. SOHU.COM INC		2011-06-24	2011-07-05
	3. STAPLES INC		2011-06-24	2011-07-05
	9. STARBUCKS CORP		2011-06-09	2011-07-05
	15. STATOIL ASA SPONSORED ADR		2011-06-09	2011-07-05
	2. STRATASYS INC		2011-06-09	2011-07-05
	3. SWIFT ENERGY CO		2011-06-24	2011-07-05
	2. TJX COMPANIES INC		2011-06-24	2011-07-05
	4. TECHNE CORP		2011-06-09	2011-07-05
	15. TECK RESOURCES LTD CLASS B		2011-06-24	2011-07-05
	8. TELECOMUNICACOES DE SAO PAULO PFD		2011-06-24	2011-07-05
	7. TELENOR ASA		2011-06-24	2011-07-05
	1. 3M CO		2011-06-24	2011-07-05
	4. TIM PARTICIPACOES SA ADR		2011-06-09	2011-07-05
	4. TIME WARNER CABLE INC		2011-06-09	2011-07-05
	7. TRINA SOLAR LTD SP ADR		2011-06-24	2011-07-05
	9. U S BANCORP DEL		2011-06-09	2011-07-05
	6. UNIFIRST CORP		2011-06-24	2011-07-05
	10. UNITED FINANCIAL BANCORP INC		2011-06-24	2011-07-05
	1. UNITED NATURAL FOODS INC		2011-06-09	2011-07-05
	1. UNITED PARCEL SERVICE		2011-06-24	2011-07-05
	6. UNITED TECHNOLOGIES CORP		2011-06-09	2011-07-05
	14. VALE SA-SP		2011-06-24	2011-07-05
	19. VALEO SA		2011-06-24	2011-07-05
	2828.94 VANGUARD LARGE CAP CORE INDEX SIGNAL		2011-04-04	2011-07-05
	21. VANGUARD LARGE CAP ETF		2011-06-24	2011-07-05
	9. VERINT SYSTEMS INC		2011-06-09	2011-07-05
	12. VOLKSWAGEN AG SPONSORED ADR		2011-06-24	2011-07-05
	5. WATSON PHARMACEUTICALS		2011-06-09	2011-07-05
	11. WEBSTER FINANCIAL CORP		2011-06-24	2011-07-05
	3. WEIS MARKETS INC		2011-06-24	2011-07-05
	14. WELLS FARGO & CO		2011-06-24	2011-07-05
	4. WERNER ENTERPRISES INC		2011-06-24	2011-07-05
	14. WESBANCO INC		2011-06-24	2011-07-05
	1. ALTERRA CAPITAL HOLDINGS LTD		2011-06-24	2011-07-05
	12. ACCENTURE PLC		2011-06-09	2011-07-05
	2. HERBALIFE LTD		2011-06-09	2011-07-05
	3. INGERSOLL-RAND PUBLIC LIMITED CO		2011-06-09	2011-07-05
	11. MAIDEN HOLDINGS LTD		2011-06-24	2011-07-05
	8. SIGNET JEWELERS LIMITED		2011-06-24	2011-07-05
	2. ALLIED WORLD ASSURANCE HOLDINGS LTD		2011-06-09	2011-07-05
	2. TRANSOCEAN LTD		2011-06-24	2011-07-05
	1. CHECK POINT SOFTWARE		2011-06-09	2011-07-05
	25. AERCAP HOLDINGS NV		2011-06-24	2011-07-05
	7. ASML HOLDING NV		2011-06-24	2011-07-05
	2. STEINER LEISURE LTD		2011-06-09	2011-07-05
	9. FLEXTRONICS INTERNATIONAL LTD		2011-06-24	2011-07-05
	.5 MARATHON PETROLEUM CORP		2011-06-09	2011-07-26
	13. ABAXIS INC		2011-07-05	2011-07-27
	11. ALLSTATE CORP		2011-06-09	2011-07-27
	159. AMERICA MOVIL SA DE CV		2011-07-05	2011-07-27
	164. AMERICAN ASSETS TRUST INC		2011-06-24	2011-07-27
	8. AMERISOURCEBERGEN CORP		2011-07-05	2011-07-27
	2. ANIXTER INTERNATIONAL INC		2011-06-09	2011-07-27
	5. APPLE INC		2011-06-09	2011-07-27
	34. ATHENAHEALTH INC		2011-07-05	2011-07-27
	1. ATMOS ENERGY CORP		2011-06-24	2011-07-27
	1061. BANK OF AMERICA CORP		2011-06-24	2011-07-27
	32. BANK NEW YORK MELLON CORP		2011-07-05	2011-07-27
	6. BAYER AG SPONSORED ADR		2011-06-24	2011-07-27
	16. BERRY PETROLEUM CO CLASS A		2011-07-05	2011-07-27
	17. BIOMED REALTY TRUST		2011-06-09	2011-07-27
	15. BROOKLINE BANCORP INC		2011-06-24	2011-07-27
	4. CBL & ASSOCIATES PROPERTIES INC		2011-06-24	2011-07-27
	10. CAPELLA EDUCATION CO		2011-06-24	2011-07-27
	3. CASS INFORMATION SYSTEMS INC		2011-06-09	2011-07-27
	31. CELESTICA INC		2011-06-24	2011-07-27
	109. CEPHEID INC		2011-06-09	2011-07-27
	1. CERNER CORP		2011-06-24	2011-07-27
	16. CHICAGO BRIDGE & IRON CO NV		2011-06-09	2011-07-27
	9. CHICOS FAS INC		2011-07-05	2011-07-27
	12. CHINA MOBILE LTD ADR		2011-06-24	2011-07-27
	24. CISCO SYSTEMS INC		2011-07-05	2011-07-27
	4. COCA COLA CO		2011-06-24	2011-07-27
	10. COLONIAL PROPERTIES TRUST		2011-06-24	2011-07-27
	1. COLONY FINANCIAL INC		2011-06-24	2011-07-27
	14. COUSINS PROPERTIES INC		2011-06-24	2011-07-27
	8. DBS GROUP HOLDINGS LTD ADR		2011-06-24	2011-07-27
	8. DEVON ENERGY CORP		2011-07-05	2011-07-27
	7. DISNEY (WALT) CO		2011-06-24	2011-07-27
	13. EBAY INC		2011-06-09	2011-07-27
	45. EBIX INC		2011-06-24	2011-07-27
	4. ENERNOC INC		2011-07-05	2011-07-27
	4. EXXON MOBIL CORP		2011-06-09	2011-07-27
	37. FIRST AMERICAN FINANCIAL CORP		2011-07-05	2011-07-27
	1. FOMENTO ECONOMICO MEXICANO ADR		2011-06-09	2011-07-27
	7. FORRESTER RESEARCH INC		2011-06-09	2011-07-27
	17. GENERAL ELECTRIC CO		2011-06-24	2011-07-27
	7. GENESCO INC		2011-06-09	2011-07-27
	45. GOODRICH PETROLEUM CORP		2011-06-24	2011-07-27
	4. GOOGLE INC CLASS A		2011-06-24	2011-07-27
	7. GRAND CANYON EDUCATION INC		2011-06-24	2011-07-27
	1. HANCOCK JOHN BK & THRIFT OPPORTUNITY FD		2011-06-09	2011-07-27
	3. HITACHI LTD SPONSORED ADR		2011-06-24	2011-07-27
	9. IPC THE HOSPITALIST CO INC		2011-07-05	2011-07-27
	34. INTEL CORP		2011-06-09	2011-07-27
	4. INTERNATIONAL BUSINESS MACHINES CORP		2011-06-09	2011-07-27
	234. INTUIT INC		2011-06-24	2011-07-27
	2. INTUITIVE SURGICAL INC		2011-06-24	2011-07-27
	13. J P MORGAN CHASE & CO		2011-06-09	2011-07-27
	8. KOHLS CORP		2011-07-05	2011-07-27
	8. KOMATSU LTD SPONSORED ADR		2011-07-05	2011-07-27
	29. LATTICE SEMICONDUCTOR CORP		2011-06-24	2011-07-27
	9. MACK-CALI REALTY CORP		2011-06-24	2011-07-27
	485. MARATHON OIL CORP		2011-07-05	2011-07-27
	4. MARATHON PETROLEUM CORP		2011-06-09	2011-07-27
	127. MAXIMUS INC		2011-07-05	2011-07-27
	5. MC DONALDS CORP		2011-06-24	2011-07-27
	3. MICROSOFT CORP		2011-06-24	2011-07-27
	3. MITSUI & CO LTD SPONSORED ADR		2011-06-24	2011-07-27
	7. NATIONAL-OILWELL INC		2011-06-24	2011-07-27
	11. NIPPON TELEGRAPH & TELEPHONE ADR		2011-07-05	2011-07-27
	23. NISSAN MOTOR CO LTD SPONSORED ADR		2011-07-05	2011-07-27
	20. PAN AMERICAN SILVER CORP		2011-07-05	2011-07-27
	102. PETROLEUM DEVELOPMENT CORP		2011-06-24	2011-07-27
	2. PHILLIP MORRIS INTL INC		2011-06-09	2011-07-27
	7. PHOTRONICS INC		2011-06-24	2011-07-27
	3. POLARIS INDUSTRIES INC		2011-06-24	2011-07-27
	2. PORTFOLIO RECOVERY ASSOCIATES		2011-07-05	2011-07-27
	118. POST PROPERTIES INC		2011-06-09	2011-07-27
	3. PROCTER & GAMBLE CO		2011-07-05	2011-07-27
	14. PUBLIC SERVICE ENTERPRISE GROUP INC		2011-06-24	2011-07-27
	3. RELIANCE STEEL & ALUMINUM CO		2011-07-05	2011-07-27
	30. RESOURCES CONNECTION INC		2011-06-24	2011-07-27
	6. RITCHIE BROS AUCTIONEERS INC		2011-06-24	2011-07-27
	31. SAN DISK CORP		2011-07-05	2011-07-27
	10. SCHLUMBERGER LTD		2011-06-09	2011-07-27
	8. SHIRE PLC		2011-06-24	2011-07-27
	3. SMUCKER JM CO		2011-07-05	2011-07-27
	18. SOHU.COM INC		2011-06-24	2011-07-27
	382. STAPLES INC		2011-06-24	2011-07-27
	1. STARBUCKS CORP		2011-06-09	2011-07-27
	2. STRATASYS INC		2011-06-09	2011-07-27
	10. SWIFT ENERGY CO		2011-06-24	2011-07-27
	12. TJX COMPANIES INC		2011-06-24	2011-07-27
	172. TECK RESOURCES LTD CLASS B		2011-06-24	2011-07-27
	10. TELECOMUNICACOES DE SAO PAULO PFD		2011-06-24	2011-07-27
	6. TELENOR ASA		2011-06-24	2011-07-27
	1. TIM PARTICIPACOES SA ADR		2011-06-09	2011-07-27
	423. TRINA SOLAR LTD SP ADR		2011-06-24	2011-07-27
	2. ULTIMATE SOFTWARE GROUP INC		2011-07-05	2011-07-27
	4. UNIFIRST CORP		2011-06-24	2011-07-27
	2. VALE SA-SP		2011-06-24	2011-07-27
	12. VOLKSWAGEN AG SPONSORED ADR		2011-06-24	2011-07-27
	5. WAL MART STORES INC		2011-07-05	2011-07-27
	5. WEBSTER FINANCIAL CORP		2011-06-24	2011-07-27
	168. TELVENT GIT SA		2011-07-05	2011-07-27
	8. ALTERRA CAPITAL HOLDINGS LTD		2011-06-24	2011-07-27
	2. ACCENTURE PLC		2011-06-09	2011-07-27
	217. ENDURANCE SPECIALTY		2011-07-05	2011-07-27
	4. HERBALIFE LTD		2011-06-09	2011-07-27
	142. INGERSOLL-RAND PUBLIC LIMITED CO		2011-06-09	2011-07-27
	10. TRANSOCEAN LTD		2011-06-24	2011-07-27
	6. CHECK POINT SOFTWARE		2011-06-09	2011-07-27
	3. STEINER LEISURE LTD		2011-06-09	2011-07-27
	29. FLEXTRONICS INTERNATIONAL LTD		2011-06-24	2011-07-27
	37. AT&T INC		2011-07-05	2011-08-16
	7. ALLSTATE CORP		2011-06-09	2011-08-16
	11. AMERICA MOVIL SA DE CV		2011-07-05	2011-08-16
	154. AMERICAN ASSETS TRUST INC		2011-06-24	2011-08-16
	28. AMERISOURCEBERGEN CORP		2011-06-09	2011-08-16
	56. ANGIODYNAMICS INC		2011-06-09	2011-08-16
	2. APPLE INC		2011-06-09	2011-08-16
	5. ASTRAZENECA GROUP PLC SPONSORED ADR		2011-06-09	2011-08-16
	8. ATHENAHEALTH INC		2011-06-24	2011-08-16
	9. BECTON DICKINSON & CO		2011-06-24	2011-08-16
	9. BIO RAD LABS INC CLASS A		2011-06-09	2011-08-16
	16. BIO-REFERENCE LABORATORIES INC		2011-06-09	2011-08-16
	723. BROOKLINE BANCORP INC		2011-06-24	2011-08-16
	46. CBL & ASSOCIATES PROPERTIES INC		2011-06-24	2011-08-16
	1. CME GROUP INC		2011-07-27	2011-08-16
	5. CABOT MICROELECTRONICS CORP		2011-06-09	2011-08-16
	15. CANADIAN NATL RAILWAY CO		2011-07-27	2011-08-16
	8. CAPITAL ONE FINANCIAL CORP		2011-06-24	2011-08-16
	15. CASS INFORMATION SYSTEMS INC		2011-06-09	2011-08-16
	51. CELESTICA INC		2011-06-24	2011-08-16
	6. CERNER CORP		2011-06-24	2011-08-16
	2. CHEESECAKE FACTORY INC		2011-07-27	2011-08-16
	6. CHEVRONTEXACO CORP		2011-07-27	2011-08-16
	14. CHINA MOBILE LTD ADR		2011-06-24	2011-08-16
	68. CISCO SYSTEMS INC		2011-06-24	2011-08-16
	16. COCA COLA CO		2011-06-24	2011-08-16
	14. COLGATE-PALMOLIVE CO		2011-07-27	2011-08-16
	10. COLONIAL PROPERTIES TRUST		2011-06-24	2011-08-16
	40. COMPANHIA DE BEDIDAS DAS AMERICAS		2011-06-09	2011-08-16
	5. CONOCOPHILLIPS		2011-07-27	2011-08-16
	15. COUSINS PROPERTIES INC		2011-06-24	2011-08-16
	7. DBS GROUP HOLDINGS LTD ADR		2011-06-24	2011-08-16
	9. DEERE & CO		2011-06-24	2011-08-16
	302. DISNEY (WALT) CO		2011-06-24	2011-08-16
	1. EBAY INC		2011-06-09	2011-08-16
	99. ECHELON CORP		2011-07-05	2011-08-16
	13. ECHO GLOBAL LOGISTICS INC		2011-06-24	2011-08-16
	4. DELHAIZE GROUP SPONSORED ADR		2011-06-09	2011-08-16
	22. FASTENAL CO		2011-06-24	2011-08-16
	11. FOMENTO ECONOMICO MEXICANO ADR		2011-06-09	2011-08-16
	27. FORRESTER RESEARCH INC		2011-06-09	2011-08-16
	1. FORTUNE BRANDS INC		2011-07-05	2011-08-16
	71. GT ADVANCED TECHNOLOGIES INC		2011-07-05	2011-08-16
	13. GAYLORD ENTERTAINMENT CO		2011-07-27	2011-08-16
	31. GRAND CANYON EDUCATION INC		2011-06-24	2011-08-16
	14. GUIDANCE SOFTWARE INC		2011-07-27	2011-08-16
	5. HITACHI LTD SPONSORED ADR		2011-06-24	2011-08-16
	9. HUMANA INC		2011-07-05	2011-08-16
	48. INNERWORKINGS INC		2011-06-09	2011-08-16
	15. INTEGRA LIFESCIENCES HOLDINGS CORP		2011-06-24	2011-08-16
	12. INTEL CORP		2011-06-09	2011-08-16
	3. INTERNATIONAL BUSINESS MACHINES CORP		2011-06-09	2011-08-16
	293. J P MORGAN CHASE & CO		2011-06-09	2011-08-16
	35. KRAFT FOODS INC		2011-07-27	2011-08-16
	10. LKQ CORP		2011-07-27	2011-08-16
	3. LABORATORY CORP OF AMERICA HLDGS		2011-06-09	2011-08-16
	5. LANDEC CORP		2011-07-27	2011-08-16
	5. MACK-CALI REALTY CORP		2011-06-24	2011-08-16
	1. MARATHON PETROLEUM CORP		2011-06-09	2011-08-16
	26. MAXIMUS INC		2011-07-05	2011-08-16
	13. MC DONALDS CORP		2011-06-24	2011-08-16
	3. MEDTOX SCIENTIFIC INC		2011-06-24	2011-08-16
	9. MEDNAX INC		2011-07-27	2011-08-16
	6. MICROSOFT CORP		2011-06-24	2011-08-16
	23. MUELLER INDUSTRIES INC		2011-07-27	2011-08-16
	3. NACCO INDUSTRIES INC		2011-07-27	2011-08-16
	29. NAPCO SECURITY TECHNOLOGIES INC		2011-07-05	2011-08-16
	11. NEXTERA ENERGY INC		2011-07-05	2011-08-16
	25. NIPPON TELEGRAPH & TELEPHONE ADR		2011-06-24	2011-08-16
	12. PAN AMERICAN SILVER CORP		2011-06-24	2011-08-16
	66. PAREXEL INTERNATIONAL CORP		2011-06-09	2011-08-16
	31. PEGASYSTEMS INC		2011-07-27	2011-08-16
	7. PHILLIP MORRIS INTL INC		2011-06-09	2011-08-16
	3. PIEDMONT NATURAL GAS CO		2011-07-27	2011-08-16
	21. POLYONE CORP		2011-07-27	2011-08-16
	6. PORTFOLIO RECOVERY ASSOCIATES		2011-06-09	2011-08-16
	8. PRAXAIR INC		2011-07-27	2011-08-16
	20. PROCTER & GAMBLE CO		2011-07-05	2011-08-16
	20. PROTECTIVE LIFE CORP		2011-06-24	2011-08-16
	26. PUBLIC SERVICE ENTERPRISE GROUP INC		2011-06-24	2011-08-16
	3. QUALCOMM INC		2011-06-09	2011-08-16
	2. QUALITY SYSTEMS INC		2011-07-27	2011-08-16
	18. ROLLINS INC		2011-07-27	2011-08-16
	5. ST JUDE MEDICAL INC		2011-07-27	2011-08-16
	6. SHIRE PLC		2011-06-24	2011-08-16
	9. SMUCKER JM CO		2011-06-09	2011-08-16
	6. SOHU.COM INC		2011-06-24	2011-08-16
	20. STARBUCKS CORP		2011-06-09	2011-08-16
	2. STATOIL ASA SPONSORED ADR		2011-07-27	2011-08-16
	15. TJX COMPANIES INC		2011-06-24	2011-08-16
	5. TECHNE CORP		2011-06-09	2011-08-16
	19. TELECOMUNICACOES DE SAO PAULO PFD		2011-06-24	2011-08-16
	10. TELENOR ASA		2011-06-24	2011-08-16
	5. 3M CO		2011-06-24	2011-08-16
	21. TIM PARTICIPACOES S A		2011-06-09	2011-08-16
	11. UNITED NATURAL FOODS INC		2011-07-27	2011-08-16
	4. UNITED PARCEL SERVICE		2011-06-24	2011-08-16
	43. VANGUARD LARGE CAP ETF		2011-07-27	2011-08-16
	10. WAL MART STORES INC		2011-07-05	2011-08-16
	32. WALTER INVESTMENT MGMT CORP		2011-07-27	2011-08-16
	11. WATSON PHARMACEUTICALS		2011-07-27	2011-08-16
	1. WERNER ENTERPRISES INC		2011-06-24	2011-08-16
	2. ACCENTURE PLC		2011-06-09	2011-08-16
	10. HERBALIFE LTD		2011-06-09	2011-08-16
	10. ALLIED WORLD ASSURANCE HOLDINGS LTD		2011-06-09	2011-08-16
	14. ASML HOLDING NV		2011-06-24	2011-08-16
	1151.411 CALAMOS CONVERTIBLE FUND		2011-07-05	2011-08-23
	1434.867 FEDERATED ULTRASHORT BOND INSTL		2010-03-08	2011-08-23
	4011.756 FEDERATED ULTRASHORT BOND INSTL		2011-07-05	2011-08-23
	874.376 FEDERATED MORTGAGE INSTITUTIONAL		2011-07-05	2011-08-23
	1623.127 FEDERATED MORTGAGE INSTITUTIONAL		2006-09-13	2011-08-23
	1841.916 GOLDMAN SACHS MID CAP VALUE FUND		2011-06-14	2011-08-23
	117.418 GOLDMAN SACHS MID CAP VALUE FUND		2009-10-29	2011-08-23
	858.615 LOOMIS SAYLES GLOBAL BOND FUND I		2007-05-16	2011-08-23
	4490.228 TIMES SQUARE MID CAP GROWTH INSTL		2011-06-14	2011-08-23
	218.825 TIMES SQUARE MID CAP GROWTH INSTL		2009-10-29	2011-08-23
	413.47 PIMCO TOTAL RETURN INSTL		2011-07-05	2011-08-23
	3684.89 PIMCO TOTAL RETURN INSTL		2009-12-21	2011-08-23
	1185.877 PIMCO FOREIGN BOND INSTITUTIONAL		2011-07-05	2011-08-23
	692.056 PIMCO FOREIGN BOND INSTITUTIONAL		2006-09-13	2011-08-23
	.297 TIM PARTICIPACOES S A		2011-06-09	2011-08-25
	66. ABAXIS INC		2011-07-05	2011-10-10
	169. ALLSCRIPTS HEALTHCARE SOLUTIONS INC		2011-06-09	2011-10-10
	74. ANGIODYNAMICS INC		2011-06-09	2011-10-10
	22. ANIXTER INTERNATIONAL INC		2011-06-09	2011-10-10
	2. APACHE CORP		2011-07-27	2011-10-10
	7. ASHLAND INC		2011-06-09	2011-10-10
	15. ASTRAZENECA GROUP PLC SPONSORED ADR		2011-06-09	2011-10-10
	48. ATMOS ENERGY CORP		2011-06-24	2011-10-10
	28. BAE SYSTEMS PLC ADR		2011-06-24	2011-10-10
	264. BEACON ROOFING SUPPLY INC		2011-07-27	2011-10-10
	58. BEMIS CO INC		2011-07-27	2011-10-10
	5. BEST BUY CO INC		2011-07-05	2011-10-10
	18. BIO RAD LABS INC CLASS A		2011-06-09	2011-10-10
	102. BIOMED REALTY TRUST		2011-06-09	2011-10-10
	49. BRADY CORP		2011-06-24	2011-10-10
	37. CABOT MICROELECTRONICS CORP		2011-06-09	2011-10-10
	1285. CAL DIVE INTERNATIONAL INC		2011-08-16	2011-10-10
	7. CANADIAN NATL RAILWAY CO		2011-07-27	2011-10-10
	24. CAPELLA EDUCATION CO		2011-06-24	2011-10-10
	23. CASS INFORMATION SYSTEMS INC		2011-06-09	2011-10-10
	943. CELESTICA INC		2011-06-24	2011-10-10
	150. CEPHEID INC		2011-06-09	2011-10-10
	14. CERNER CORP		2011-06-24	2011-10-10
	85. CHEESECAKE FACTORY INC		2011-07-27	2011-10-10
	51. CHEMED CORP		2011-07-05	2011-10-10
	80. CHICOS FAS INC		2011-07-05	2011-10-10
	9. CHINA MOBILE LTD ADR		2011-06-24	2011-10-10
	14. CHINA PETROLEUM & CHEMICAL CORP ADR		2011-07-27	2011-10-10
	51. CISCO SYSTEMS INC		2011-06-24	2011-10-10
	1. COCA COLA CO		2011-06-24	2011-10-10
	9. COLGATE-PALMOLIVE CO		2011-06-09	2011-10-10
	81. COLONIAL PROPERTIES TRUST		2011-06-24	2011-10-10
	38. COLONY FINANCIAL INC		2011-06-24	2011-10-10
	61. COMMUNITY TRUST BANCORP INC		2011-07-27	2011-10-10
	20. COMPANHIA DE BEDIDAS DAS AMERICAS		2011-06-09	2011-10-10
	50. CONSTANT CONTACT INC		2011-06-24	2011-10-10
	27. COSTAR GROUP INC		2011-06-09	2011-10-10
	77. DEALERTRACK HOLDINGS INC		2011-07-27	2011-10-10
	157. DIGI INTERNATIONAL INC		2011-08-16	2011-10-10
	7. DOMTAR CORP		2011-07-05	2011-10-10
	210. ENI SPA SPONSORED ADR		2011-08-16	2011-10-10
	50. EBIX INC		2011-06-24	2011-10-10
	6. ECHELON CORP		2011-06-24	2011-10-10
	98. ECHO GLOBAL LOGISTICS INC		2011-06-24	2011-10-10
	81. ENERNOC INC		2011-06-24	2011-10-10
	5. EXXON MOBIL CORP		2011-06-09	2011-10-10
	41. FARO TECHNOLOGIES INC		2011-07-27	2011-10-10
	17. FASTENAL CO		2011-06-24	2011-10-10
	17. FINANCIAL ENGINES INC		2011-06-24	2011-10-10
	35. FIRST AMERICAN FINANCIAL CORP		2011-06-24	2011-10-10
	1140. FIRST COMMONWEALTH FINANCIAL		2011-08-16	2011-10-10
	8. FOMENTO ECONOMICO MEXICANO ADR		2011-06-09	2011-10-10
	35. FORRESTER RESEARCH INC		2011-06-09	2011-10-10
	55. FORWARD AIR CORP		2011-06-09	2011-10-10
	35. FOSTER LB CO		2011-07-27	2011-10-10
	59. FREEPORT MCMORAN COPPER & GOLD CL B		2011-07-27	2011-10-10
	13. GAMCO INVESTORS INC		2011-07-05	2011-10-10
	49. GENESCO INC		2011-08-16	2011-10-10
	140. GENTEX CORP		2011-07-27	2011-10-10
	35. GOODRICH CO		2011-08-16	2011-10-10
	3. GOODRICH PETROLEUM CORP		2011-06-24	2011-10-10
	19. GRAND CANYON EDUCATION INC		2011-06-24	2011-10-10
	89. GUIDANCE SOFTWARE INC		2011-07-27	2011-10-10
	150. HEARTLAND EXPRESS INC		2011-06-24	2011-10-10
	53. HUMANA INC		2011-06-09	2011-10-10
	41. ICU MEDICAL INC		2011-08-16	2011-10-10
	39. IPC THE HOSPITALIST CO INC		2011-06-09	2011-10-10
	140. INNERWORKINGS INC		2011-06-09	2011-10-10
	36. INTEGRA LIFESCIENCES HOLDINGS CORP		2011-06-24	2011-10-10
	5. INTERNATIONAL BUSINESS MACHINES CORP		2011-06-09	2011-10-10
	3. INTUITIVE SURGICAL INC		2011-08-16	2011-10-10
	332. JOHNSON CONTROLS		2011-08-16	2011-10-10
	141. KINGFISHER PLC ADR		2011-07-27	2011-10-10
	5. KRAFT FOODS INC		2011-06-24	2011-10-10
	124. LKQ CORP		2011-06-09	2011-10-10
	66. LANDEC CORP		2011-07-27	2011-10-10
	283. LATTICE SEMICONDUCTOR CORP		2011-06-24	2011-10-10
	198. MACK-CALI REALTY CORP		2011-06-24	2011-10-10
	144. MARATHON PETROLEUM CORP		2011-06-09	2011-10-10
	61. MAXIMUS INC		2011-06-09	2011-10-10
	4. MC DONALDS CORP		2011-06-24	2011-10-10
	11. MEAD JOHNSON NUTRITION CO		2011-08-16	2011-10-10
	48. MEDTOX SCIENTIFIC INC		2011-06-24	2011-10-10
	36. MEDNAX INC		2011-06-09	2011-10-10
	47. MILLER HERMAN INC		2011-07-05	2011-10-10
	45. MOBILE MINI INC		2011-07-27	2011-10-10
	41. MUELLER INDUSTRIES INC		2011-06-09	2011-10-10
	147. NATIONAL INSTRUMENTS CORP		2011-07-27	2011-10-10
	233. NATIONAL PENN BANCSHARES INC		2011-07-27	2011-10-10
	134. NEOGEN CORP		2011-06-09	2011-10-10
	35. NICOR INC		2011-06-24	2011-10-10
	32. NIPPON TELEGRAPH & TELEPHONE ADR		2011-06-24	2011-10-10
	30. NISSAN MOTOR CO LTD SPONSORED ADR		2011-06-24	2011-10-10
	319. OLD NATIONAL BANCORP		2011-06-24	2011-10-10
	264. OMNICOM GROUP INC		2011-08-16	2011-10-10
	107. PAPA JOHN'S INT'L INC		2011-06-24	2011-10-10
	38. PAREXEL INTERNATIONAL CORP		2011-06-09	2011-10-10
	6. PEGASYSTEMS INC		2011-07-27	2011-10-10
	49. PHOTRONICS INC		2011-06-24	2011-10-10
	41. PIEDMONT NATURAL GAS CO		2011-07-27	2011-10-10
	39. PINNACLE WEST CAPITAL CORP		2011-06-09	2011-10-10
	34. POLARIS INDUSTRIES INC		2011-08-16	2011-10-10
	71. POLYONE CORP		2011-06-24	2011-10-10
	73. POOL CORP		2011-08-16	2011-10-10
	27. PORTFOLIO RECOVERY ASSOCIATES		2011-06-09	2011-10-10
	56. PORTLAND GENERAL ELECTRIC CO		2011-08-16	2011-10-10
	51. POWER INTEGRATIONS INC		2011-07-27	2011-10-10
	3. PRAXAIR INC		2011-06-09	2011-10-10
	211. PROTECTIVE LIFE CORP		2011-06-24	2011-10-10
	132. PROVIDENT FINANCIAL SERVICES		2011-07-27	2011-10-10
	5. QUALCOMM INC		2011-06-09	2011-10-10
	12. QUALITY SYSTEMS INC		2011-07-27	2011-10-10
	59. REDWOOD TRUST INC		2011-07-05	2011-10-10
	24. RELIANCE STEEL & ALUMINUM CO		2011-06-24	2011-10-10
	157. RESOURCES CONNECTION INC		2011-06-24	2011-10-10
	94. RITCHIE BROS AUCTIONEERS INC		2011-06-24	2011-10-10
	196. ROLLINS INC		2011-07-27	2011-10-10
	170. SEMTECH CORP		2011-06-09	2011-10-10
	3. SHIRE PLC		2011-06-24	2011-10-10
	24. SNAP-ON TOOLS CORP		2011-07-27	2011-10-10
	16. STARBUCKS CORP		2011-06-09	2011-10-10
	27. STATOIL ASA SPONSORED ADR		2011-07-27	2011-10-10
	65. STRATASYS INC		2011-06-09	2011-10-10
	77. SYKES ENTERPRISES INC		2011-07-05	2011-10-10
	14. TJX COMPANIES INC		2011-06-24	2011-10-10
	25. TECHNE CORP		2011-06-09	2011-10-10
	6. TELENOR ASA		2011-06-24	2011-10-10
	131. 3M CO		2011-07-27	2011-10-10
	64. ULTIMATE SOFTWARE GROUP INC		2011-06-09	2011-10-10
	25. UNIFIRST CORP		2011-06-24	2011-10-10
	97. UNITED FINANCIAL BANCORP INC		2011-07-27	2011-10-10
	61. UNITED NATURAL FOODS INC		2011-06-09	2011-10-10
	8. UNITED PARCEL SERVICE		2011-06-24	2011-10-10
	163. UNIVERSAL TECHNICAL INSTITUTE INC		2011-08-16	2011-10-10
	83. VERINT SYSTEMS INC		2011-07-27	2011-10-10
	44. WALTER INVESTMENT MGMT CORP		2011-07-27	2011-10-10
	25. WEBSTER FINANCIAL CORP		2011-06-24	2011-10-10
	69. WEIS MARKETS INC		2011-07-27	2011-10-10
	62. WERNER ENTERPRISES INC		2011-06-24	2011-10-10
	89. WESBANCO INC		2011-07-27	2011-10-10
	96. ALTERRA CAPITAL HOLDINGS LTD		2011-06-24	2011-10-10
	9. ACCENTURE PLC		2011-06-09	2011-10-10
	3. HERBALIFE LTD		2011-06-09	2011-10-10
	129. MAIDEN HOLDINGS LTD		2011-06-24	2011-10-10
	39. SIGNET JEWELERS LIMITED		2011-07-27	2011-10-10
	13. ALLIED WORLD ASSURANCE HOLDINGS LTD		2011-06-09	2011-10-10
	17. CHECK POINT SOFTWARE		2011-08-16	2011-10-10
	22. ASML HOLDING NV		2011-06-24	2011-10-10
	54. STEINER LEISURE LTD		2011-06-09	2011-10-10
	201. FLEXTRONICS INTERNATIONAL LTD		2011-06-24	2011-10-10
	3760.07 ALLIANZ NFJ DIVIDEND VALUE INST		2008-12-16	2011-10-25
	1322.751 AMERICAN BEACON INTERNAT'L EQUITY		2004-01-14	2011-10-25
	757.986 AMERICAN EUROPACIFIC GROWTH FUND CL F2		2011-06-14	2011-10-25
	897.435 GOLDMAN SACHS SMALL VALUE IS		2011-06-14	2011-10-25
	931.842 HARBOR CAPITAL APPRECIATION FUND		2011-06-14	2011-10-25
	3175.834 MORGAN STANLEY INSTL SMALL COMPANY GROWT		2011-06-14	2011-10-25
	17.422 AMERICAN BEACON INTERNAT'L EQUITY		2011-05-23	2011-11-22
	1646.768 AMERICAN BEACON INTERNAT'L EQUITY		2009-09-03	2011-11-22
	671.903 AMERICAN EUROPACIFIC GROWTH FUND CL F2		2011-06-14	2011-11-22
	93. NICOR INC		2011-08-16	2011-12-12
	CAPITAL GAIN DIVIDENDS	P

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	1,830	1,521	309
b	5,253	6,318	-1,065
c	3,767	3,271	496
d	8,249	8,196	53
e	6,181	6,401	-220
	7,450	5,304	2,146
	6,306	6,050	256
	9,419	9,476	-57
	68,959	60,166	8,793
	8,359	8,155	204
	2,302	1,861	441
	461	334	127
	1,587	1,453	134
	2,676	1,856	820
	252	231	21
	1,320	969	351
	2,427	1,926	501
	104	103	1
	329	310	19
	1,200	1,182	18
	1,179	1,189	-10
	3,257	3,279	-22
	9,585	9,984	-399
	4,030	4,121	-91
	5,644	5,375	269
	12,166	12,332	-166
	4,473	4,622	-149
	23,213	22,907	306
	9,555	9,798	-243
	17,363	17,609	-246
	11,078	10,939	139
	22,179	21,928	251
	906	909	-3
	17,760	17,897	-137
	7,362	6,747	615
	11,656	10,887	769
	6,750	7,403	-653
	6,348	6,708	-360
	4,448	4,762	-314
	5,511	5,517	-6
	11,172	10,167	1,005
	1,745	1,786	-41
	4,960	5,020	-60
	29,030	27,972	1,058
	6,896	6,595	301
	16,646	17,103	-457
	16,993	17,191	-198
	13,907	14,034	-127
	4,788	4,716	72
	6,697	6,752	-55
	2,838	2,775	63
	16,825	16,650	175
	12,463	12,929	-466
	4,881	4,809	72
	11,190	11,022	168
	542	560	-18
	10,596	9,772	824
	11,338	11,780	-442
	19,313	18,819	494
	18,179	19,055	-876
	13,149	12,600	549
	375	400	-25
	20,302	21,159	-857
	8,166	7,779	387
	4,511	4,536	-25
	39,479	41,100	-1,621
	12,468	13,184	-716
	9,701	9,725	-24
	12,934	13,101	-167
	28,456	28,609	-153
	6,631	6,470	161
	10,620	8,830	1,790
	12,952	11,519	1,433
	9,390	9,566	-176
	10,723	10,653	70
	23,040	22,225	815
	8,945	9,107	-162
	1,916	1,979	-63
	16,179	16,518	-339
	18,185	18,077	108
	429,432	429,402	30
	7,283	7,432	-149
	14,182	13,806	376
	14,310	14,501	-191
	20,741	21,111	-370
	12,982	12,429	553
	1,830	1,808	22
	13,804	14,504	-700
	3,112	3,050	62
	14,536	14,109	427
	15,604	15,148	456
	7,284	7,574	-290
	8,066	7,930	136
	6,457	6,662	-205
	8,883	9,329	-446
	13,906	14,561	-655
	306	305	1
	6,374	6,074	300
	14,599	15,029	-430
	13,255	12,924	331
	21,598	20,900	698
	2,321	2,341	-20
	9,401	9,740	-339
	13,867	13,675	192
	14,019	13,697	322
	11,483	11,806	-323
	11,124	11,421	-297
	4,253	4,012	241
	13,277	12,688	589
	8,942	9,369	-427
	3,343	3,316	27
	2,300	2,294	6
	11,269	9,550	1,719
	7,413	7,316	97
	12,201	12,284	-83
	7,766	7,766
	15,992	15,756	236
	14,751	14,133	618
	23,719	23,334	385
	3,950	3,988	-38
	6,576	6,228	348
	17,271	16,927	344
	15,178	15,521	-343
	11,915	11,705	210
	21,426	20,629	797
	9,461	9,771	-310
	14,999	14,911	88
	3,281	3,419	-138
	39	39
	31	30	1
	315	292	23
	56	61	-5
	131	127	4
	375	358	17
	263	247	16
	135	130	5
	159	150	9
	123	118	5
	394	366	28
	11	11
	82	77	5
	89	85	4
	814	771	43
	121	120	1
	375	377	-2
	132	126	6
	229	228	1
	258	249	9
	297	279	18
	380	381	-1
	704	657	47
	322	302	20
	106	99	7
	38	37	1
	302	278	24
	850	746	104
	313	291	22
	299	264	35
	317	300	17
	833	744	89
	408	384	24
	136	130	6
	227	219	8
	110	110
	139	135	4
	310	288	22
	76	71	5
	60	59	1
	378	353	25
	120	112	8
	48	46	2
	240	213	27
	300	252	48
	160	151	9
	414	373	41
	328	310	18
	111	108	3
	333	310	23
	720	673	47
	212	202	10
	230	206	24
	53,736	38,564	15,172
	21,264	20,797	467
	163	162	1
	269	239	30
	476	435	41
	156	152	4
	324	311	13
	478	441	37
	35	33	2
	330	313	17
	1,341	1,221	120
	248	240	8
	209	200	9
	1,563	1,231	332
	123	104	19
	25,000	17,769	7,231
	38,644	36,577	2,067
	61,356	52,830	8,526
	535	475	60
	100	94	6
	793	753	40
	129	121	8
	33	32	1
	5,092	4,763	329
	94,908	62,549	32,359
	118	113	5
	179	173	6
	298	280	18
	94	90	4
	283	281	2
	45	44	1
	175	164	11
	381	349	32
	2,661	2,533	128
	82	81	1
	549	513	36
	253	257	-4
	214	197	17
	32	31	1
	158	153	5
	99	96	3
	25,000	18,085	6,915
	86	82	4
	144	135	9
	233	219	14
	240	228	12
	40,189	38,071	2,118
	59,811	46,712	13,099
	884	780	104
	391	365	26
	640	580	60
	724	644	80
	89	84	5
	279	249	30
	111	109	2
	322	307	15
	568	549	19
	196	184	12
	128	130	-2
	71	70	1
	2,394	2,304	90
	193	187	6
	339	324	15
	180	174	6
	160	147	13
	335	324	11
	351	323	28
	218	200	18
	366	343	23
	261	249	12
	98	95	3
	174	169	5
	269	244	25
	25	24	1
	435	409	26
	327	310	17
	292	268	24
	177	167	10
	413	398	15
	137	132	5
	467	414	53
	47	46	1
	368	322	46
	385	369	16
	72	64	8
	115	102	13
	108	100	8
	340	316	24
	794	701	93
	235	229	6
	347	327	20
	96	91	5
	193	191	2
	323	300	23
	148	143	5
	231	216	15
	349	308	41
	155	155
	44	40	4
	74	71	3
	538	498	40
	467	431	36
	663	592	71
	76,551	76,129	422
	1,291	1,226	65
	335	298	37
	453	420	33
	354	322	32
	235	219	16
	123	119	4
	397	380	17
	102	97	5
	277	267	10
	22	22
	733	669	64
	120	106	14
	138	134	4
	101	103	-2
	383	350	33
	114	118	-4
	129	122	7
	57	54	3
	328	312	16
	266	246	20
	95	92	3
	58	58
	21	20	1
	365	376	-11
	307	328	-21
	4,096	4,293	-197
	3,552	3,609	-57
	315	334	-19
	129	127	2
	1,977	1,661	316
	1,968	1,403	565
	34	32	2
	10,376	11,222	-846
	810	802	8
	494	461	33
	931	792	139
	339	337	2
	128	137	-9
	71	71
	460	435	25
	110	112	-2
	275	253	22
	4,149	3,388	761
	62	58	4
	660	567	93
	139	141	-2
	594	566	28
	378	367	11
	276	261	15
	211	199	12
	18	18
	121	115	6
	404	371	33
	656	641	15
	279	264	15
	436	397	39
	895	922	-27
	66	63	3
	337	323	14
	570	572	-2
	72	63	9
	221	248	-27
	308	309	-1
	370	297	73
	867	821	46
	2,447	1,900	547
	108	94	14
	16	16
	184	173	11
	450	425	25
	766	742	24
	730	657	73
	11,101	11,861	-760
	794	699	95
	531	525	6
	445	406	39
	247	249	-2
	179	185	-6
	303	288	15
	15,327	15,575	-248
	169	160	9
	4,948	5,339	-391
	437	410	27
	83	73	10
	1,122	1,017	105
	560	501	59
	272	259	13
	506	485	21
	628	618	10
	3,901	3,053	848
	144	136	8
	56	57	-1
	360	319	41
	159	175	-16
	5,022	4,780	242
	188	193	-5
	465	443	22
	143	147	-4
	396	365	31
	168	155	13
	1,311	1,274	37
	923	837	86
	792	719	73
	236	230	6
	1,584	1,241	343
	6,089	5,906	183
	39	36	3
	59	64	-5
	392	339	53
	663	602	61
	8,615	8,038	577
	309	286	23
	296	280	16
	49	48	1
	7,506	8,665	-1,159
	109	110	-1
	222	205	17
	66	62	4
	459	420	39
	267	268	-1
	104	100	4
	6,691	6,696	-5
	175	174	1
	121	111	10
	8,974	8,865	109
	231	211	20
	5,385	6,364	-979
	623	609	14
	348	327	21
	146	139	7
	188	187	1
	1,063	1,135	-72
	179	209	-30
	261	280	-19
	2,932	3,389	-457
	1,076	1,147	-71
	788	851	-63
	759	664	95
	232	258	-26
	436	329	107
	723	767	-44
	909	1,076	-167
	305	361	-56
	5,640	6,586	-946
	725	817	-92
	254	280	-26
	195	238	-43
	1,065	1,135	-70
	356	397	-41
	538	558	-20
	422	416	6
	352	349	3
	55	60	-5
	588	638	-50
	678	660	18
	1,085	1,025	60
	1,092	1,043	49
	1,209	1,187	22
	201	199	2
	1,312	1,280	32
	332	369	-37
	110	123	-13
	320	325	-5
	678	722	-44
	10,076	11,410	-1,334
	30	31	-1
	918	897	21
	180	219	-39
	268	320	-52
	715	737	-22
	742	693	49
	882	957	-75
	56	65	-9
	843	1,196	-353
	343	372	-29
	485	415	70
	97	107	-10
	280	289	-9
	671	716	-45
	350	394	-44
	600	703	-103
	249	262	-13
	514	493	21
	10,583	11,834	-1,251
	1,197	1,211	-14
	234	255	-21
	253	288	-35
	29	33	-4
	154	160	-6
	39	40	-1
	1,001	1,038	-37
	1,129	1,067	62
	41	51	-10
	593	634	-41
	152	146	6
	929	889	40
	227	276	-49
	73	84	-11
	601	623	-22
	592	586	6
	355	359	-4
	1,351	1,547	-196
	1,375	1,300	75
	474	476	-2
	88	89	-1
	276	332	-56
	435	480	-45
	792	812	-20
	1,233	1,257	-24
	373	441	-68
	840	823	17
	153	169	-16
	163	174	-11
	326	352	-26
	216	238	-22
	582	539	43
	675	688	-13
	473	414	59
	780	715	65
	46	50	-4
	822	753	69
	365	396	-31
	547	543	4
	466	467	-1
	410	457	-47
	587	597	-10
	433	440	-7
	259	285	-26
	2,353	2,516	-163
	523	528	-5
	802	778	24
	715	758	-43
	22	24	-2
	110	111	-1
	551	528	23
	530	591	-61
	491	493	-2
	20,000	21,900	-1,900
	13,172	13,115	57
	36,828	36,988	-160
	8,753	8,691	62
	16,248	16,217	31
	58,426	68,556	-10,130
	3,725	3,243	482
	15,000	13,472	1,528
	56,218	65,509	-9,291
	2,740	2,409	331
	4,540	4,552	-12
	40,460	38,383	2,077
	12,630	12,369	261
	7,370	7,203	167
	8	8
	1,540	1,866	-326
	3,082	3,296	-214
	1,050	1,125	-75
	1,121	1,393	-272
	175	245	-70
	325	433	-108
	705	775	-70
	1,561	1,555	6
	467	550	-83
	4,383	5,311	-928
	1,748	1,864	-116
	125	163	-38
	1,693	2,151	-458
	1,739	2,022	-283
	1,380	1,541	-161
	1,365	1,762	-397
	2,526	6,595	-4,069
	497	529	-32
	691	1,043	-352
	783	856	-73
	7,847	7,701	146
	6,049	4,662	1,387
	958	814	144
	2,215	2,510	-295
	2,689	3,356	-667
	979	1,224	-245
	430	424	6
	1,310	1,349	-39
	865	769	96
	67	65	2
	824	758	66
	1,480	1,614	-134
	498	693	-195
	1,516	1,644	-128
	652	640	12
	890	1,241	-351
	1,415	1,580	-165
	1,297	1,663	-366
	2,042	1,949	93
	525	679	-154
	8,464	9,222	-758
	753	1,024	-271
	40	54	-14
	1,268	1,648	-380
	777	1,271	-494
	379	404	-25
	1,399	1,687	-288
	588	569	19
	300	431	-131
	422	537	-115
	4,313	6,199	-1,886
	544	504	40
	1,166	1,240	-74
	1,540	1,815	-275
	819	1,108	-289
	2,106	2,952	-846
	537	605	-68
	2,773	2,114	659
	3,703	3,687	16
	4,219	3,047	1,172
	40	55	-15
	308	255	53
	549	673	-124
	2,147	2,416	-269
	3,791	4,119	-328
	1,567	1,641	-74
	1,390	1,821	-431
	1,114	1,149	-35
	1,295	1,687	-392
	929	822	107
	1,139	1,049	90
	9,830	12,367	-2,537
	1,117	1,206	-89
	170	173	-3
	3,419	3,052	367
	355	409	-54
	1,621	1,810	-189
	5,250	6,346	-1,096
	4,724	5,770	-1,046
	2,219	2,340	-121
	352	328	24
	786	777	9
	606	813	-207
	2,248	2,504	-256
	935	1,294	-359
	737	938	-201
	1,726	1,454	272
	3,519	4,071	-552
	1,702	1,791	-89
	4,614	5,561	-947
	1,936	1,901	35
	778	750	28
	556	629	-73
	3,319	3,305	14
	10,510	12,115	-1,605
	3,308	3,472	-164
	783	891	-108
	192	252	-60
	268	398	-130
	1,208	1,207	1
	1,719	1,700	19
	1,910	1,770	140
	777	1,041	-264
	2,093	1,878	215
	1,827	2,158	-331
	1,326	1,312	14
	1,661	1,836	-175
	304	300	4
	3,344	4,658	-1,314
	1,505	1,830	-325
	259	282	-23
	1,111	988	123
	635	887	-252
	904	1,157	-253
	1,594	1,912	-318
	1,813	2,432	-619
	3,810	3,759	51
	3,934	4,515	-581
	286	270	16
	1,132	1,365	-233
	652	572	80
	637	665	-28
	1,458	2,092	-634
	1,179	1,645	-466
	804	703	101
	1,728	1,978	-250
	289	280	9
	9,989	11,958	-1,969
	3,190	3,306	-116
	1,178	1,283	-105
	1,470	1,505	-35
	2,338	2,422	-84
	541	569	-28
	2,261	3,051	-790
	2,206	2,771	-565
	1,049	1,070	-21
	430	499	-69
	2,686	2,728	-42
	1,353	1,510	-157
	1,590	1,703	-113
	1,866	2,094	-228
	512	502	10
	161	158	3
	967	1,206	-239
	1,538	1,708	-170
	716	769	-53
	981	965	16
	818	775	43
	2,204	2,495	-291
	1,261	1,294	-33
	42,000	36,999	5,001
	20,000	22,685	-2,685
	28,000	32,351	-4,351
	35,000	38,123	-3,123
	35,000	35,447	-447
	41,000	44,589	-3,589
	243	300	-57
	22,923	26,868	-3,945
	23,463	28,672	-5,209
	5,018	5,047	-29
			33

Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69			(l) Gains (Col. (h) gain minus col. (k), but not less than -0-) or Losses (from col.(h))
(i) F.M.V. as of 12/31/69	(j) Adjusted basis as of 12/31/69	(k) Excess of col. (i) over col. (j), if any
a			309
b			-1,065
c			496
d			53
e			-220
			2,146
			256
			-57
			8,793
			204
			441
			127
			134
			820
			21
			351
			501
			1
			19
			18
			-10
			-22
			-399
			-91
			269
			-166
			-149
			306
			-243
			-246
			139
			251
			-3
			-137
			615
			769
			-653
			-360
			-314
			-6
			1,005
			-41
			-60
			1,058
			301
			-457
			-198
			-127
			72
			-55
			63
			175
			-466
			72
			168
			-18
			824
			-442
			494
			-876
			549
			-25
			-857
			387
			-25
			-1,621
			-716
			-24
			-167
			-153
			161
			1,790
			1,433
			-176
			70
			815
			-162
			-63
			-339
			108
			30
			-149
			376
			-191
			-370
			553
			22
			-700
			62
			427
			456
			-290
			136
			-205
			-446
			-655
			1
			300
			-430
			331
			698
			-20
			-339
			192
			322
			-323
			-297
			241
			589
			-427
			27
			6
			1,719
			97
			-83

			236
			618
			385
			-38
			348
			344
			-343
			210
			797
			-310
			88
			-138

			1
			23
			-5
			4
			17
			16
			5
			9
			5
			28

			5
			4
			43
			1
			-2
			6
			1
			9
			18
			-1
			47
			20
			7
			1
			24
			104
			22
			35
			17
			89
			24
			6
			8

			4
			22
			5
			1
			25
			8
			2
			27
			48
			9
			41
			18
			3
			23
			47
			10
			24
			15,172
			467
			1
			30
			41
			4
			13
			37
			2
			17
			120
			8
			9
			332
			19
			7,231
			2,067
			8,526
			60
			6
			40
			8
			1
			329
			32,359
			5
			6
			18
			4
			2
			1
			11
			32
			128
			1
			36
			-4
			17
			1
			5
			3
			6,915
			4
			9
			14
			12
			2,118
			13,099
			104
			26
			60
			80
			5
			30
			2
			15
			19
			12
			-2
			1
			90
			6
			15
			6
			13
			11
			28
			18
			23
			12
			3
			5
			25
			1
			26
			17
			24
			10
			15
			5
			53
			1
			46
			16
			8
			13
			8
			24
			93
			6
			20
			5
			2
			23
			5
			15
			41

			4
			3
			40
			36
			71
			422
			65
			37
			33
			32
			16
			4
			17
			5
			10

			64
			14
			4
			-2
			33
			-4
			7
			3
			16
			20
			3

			1
			-11
			-21
			-197
			-57
			-19
			2
			316
			565
			2
			-846
			8
			33
			139
			2
			-9

			25
			-2
			22
			761
			4
			93
			-2
			28
			11
			15
			12

			6
			33
			15
			15
			39
			-27
			3
			14
			-2
			9
			-27
			-1
			73
			46
			547
			14

			11
			25
			24
			73
			-760
			95
			6
			39
			-2
			-6
			15
			-248
			9
			-391
			27
			10
			105
			59
			13
			21
			10
			848
			8
			-1
			41
			-16
			242
			-5
			22
			-4
			31
			13
			37
			86
			73
			6
			343
			183
			3
			-5
			53
			61
			577
			23
			16
			1
			-1,159
			-1
			17
			4
			39
			-1
			4
			-5
			1
			10
			109
			20
			-979
			14
			21
			7
			1
			-72
			-30
			-19
			-457
			-71
			-63
			95
			-26
			107
			-44
			-167
			-56
			-946
			-92
			-26
			-43
			-70
			-41
			-20
			6
			3
			-5
			-50
			18
			60
			49
			22
			2
			32
			-37
			-13
			-5
			-44
			-1,334
			-1
			21
			-39
			-52
			-22
			49
			-75
			-9
			-353
			-29
			70
			-10
			-9
			-45
			-44
			-103
			-13
			21
			-1,251
			-14
			-21
			-35
			-4
			-6
			-1
			-37
			62
			-10
			-41
			6
			40
			-49
			-11
			-22
			6
			-4
			-196
			75
			-2
			-1
			-56
			-45
			-20
			-24
			-68
			17
			-16
			-11
			-26
			-22
			43
			-13
			59
			65
			-4
			69
			-31
			4
			-1
			-47
			-10
			-7
			-26
			-163
			-5
			24
			-43
			-2
			-1
			23
			-61
			-2
			-1,900
			57
			-160
			62
			31
			-10,130
			482
			1,528
			-9,291
			331
			-12
			2,077
			261
			167

			-326
			-214
			-75
			-272
			-70
			-108
			-70
			6
			-83
			-928
			-116
			-38
			-458
			-283
			-161
			-397
			-4,069
			-32
			-352
			-73
			146
			1,387
			144
			-295
			-667
			-245
			6
			-39
			96
			2
			66
			-134
			-195
			-128
			12
			-351
			-165
			-366
			93
			-154
			-758
			-271
			-14
			-380
			-494
			-25
			-288
			19
			-131
			-115
			-1,886
			40
			-74
			-275
			-289
			-846
			-68
			659
			16
			1,172
			-15
			53
			-124
			-269
			-328
			-74
			-431
			-35
			-392
			107
			90
			-2,537
			-89
			-3
			367
			-54
			-189
			-1,096
			-1,046
			-121
			24
			9
			-207
			-256
			-359
			-201
			272
			-552
			-89
			-947
			35
			28
			-73
			14
			-1,605
			-164
			-108
			-60
			-130
			1
			19
			140
			-264
			215
			-331
			14
			-175
			4
			-1,314
			-325
			-23
			123
			-252
			-253
			-318
			-619
			51
			-581
			16
			-233
			80
			-28
			-634
			-466
			101
			-250
			9
			-1,969
			-116
			-105
			-35
			-84
			-28
			-790
			-565
			-21
			-69
			-42
			-157
			-113
			-228
			10
			3
			-239
			-170
			-53
			16
			43
			-291
			-33
			5,001
			-2,685
			-4,351
			-3,123
			-447
			-3,589
			-57
			-3,945
			-5,209
			-29

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	50,926
3	Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
	If gain, also enter in Part I, line 8, column (c) (see pages 13 and 17 of the instructions). If (loss), enter -0- in Part I, line 8 . . . . . . . . . . . . .		3

Part V

Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income

(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)

If section 4940(d)(2) applies, leave this part blank.

Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period? Yes No

If “Yes,” the foundation does not qualify under section 4940(e). Do not complete this part.

1 Enter the appropriate amount in each column for each year; see page 18 of the instructions before making any entries.
(a) Base period years Calendar year (or tax year beginning in)	(b) Adjusted qualifying distributions	(c) Net value of noncharitable-use assets	(d) Distribution ratio (col. (b) divided by col. (c))
2010	68,419	751,357	0.091061
2009	71,110	688,384	0.1033
2008	102,260	907,386	0.112697
2007	101,678	1,154,490	0.088072
2006	94,088	1,148,051	0.081955

2	Total of line 1, column (d) ......................	2	0.477085
3	Average distribution ratio for the 5-year base period—divide the total on line 2 by 5, or by the number of years the foundation has been in existence if less than 5 years. . .	3	0.095417
4	Enter the net value of noncharitable-use assets for 2011 from Part X, line 5.....	4	2,648,438
5	Multiply line 4 by line 3.......................	5	252,706
6	Enter 1% of net investment income (1% of Part I, line 27b)...........	6	836
7	Add lines 5 and 6.........................	7	253,542
8	Enter qualifying distributions from Part XII, line 4..............	8	207,434
If line 8 is equal to or greater than line 7, check the box in Part VI, line 1b, and complete that part using a 1% tax rate. See the Part VI instructions on page 18.

Form 990-PF (2011)

Page 4

Part VI

Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see page 18 of the instructions)

1a	Exempt operating foundations described in section 4940(d)(2), check hereand enter “N/A” on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)
b	Domestic foundations that meet the section 4940(e) requirements in Part V, check	1	1,671
	hereand enter 1% of Part I, line 27b...................
c	All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2	Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	2	0
3	Add lines 1 and 2............................	3	1,671
4	Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-).	4	0
5	Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- .....	5	1,671
6	Credits/Payments:

a	2011 estimated tax payments and 2010 overpayment credited to 2011	6a	164
b	Exempt foreign organizations—tax withheld at source.......	6b
c	Tax paid with application for extension of time to file (Form 8868)	6c	0
d	Backup withholding erroneously withheld ...........	6d

7	Total credits and payments. Add lines 6a through 6d..............		7	164
8	Enter any penalty for underpayment of estimated tax. Check hereif Form 2220 is attached.		8	0
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9	1,507
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10
11	Enter the amount of line 10 to be: Credited to 2012 estimated tax	Refunded	11	0

Part VII-A

Statements Regarding Activities

During the tax year, did the foundation attempt to influence any national, state, or local legislation or did

Yes

it participate or intervene in any political campaign? ....................

Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see page 19 of

the instructions for definition)?............................

If the answer is “Yes” to 1a or 1b, attach a detailed description of the activities and copies of any materials

published or distributed by the foundation in connection with the activities.

Did the foundation file Form 1120-POL for this year?.....................

Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:

(1) On the foundation. bullet

$ (2) On foundation managers. bullet

Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed

on foundation managers. bullet

Has the foundation engaged in any activities that have not previously been reported to the IRS?.......

If “Yes,” attach a detailed description of the activities.

Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles

of incorporation, or bylaws, or other similar instruments? If “Yes,” attach a conformed copy of the changes....

Did the foundation have unrelated business gross income of $1,000 or more during the year?........

If “Yes,” has it filed a tax return on Form 990-T for this year?...................

Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........

If “Yes,” attach the statement required by General Instruction T.

Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:

By language in the governing instrument, or

By state legislation that effectively amends the governing instrument so that no mandatory directions

that conflict with the state law remain in the governing instrument?................

Yes

Did the foundation have at least $5,000 in assets at any time during the year? If “Yes,” complete Part II, col. (c), and Part XV.

Yes

Enter the states to which the foundation reports or with which it is registered (see page 19 of the

instructions) bullet

If the answer is “Yes” to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney

General (or designate) of each state as required by General Instruction G? If “No,” attach explanation .

Yes

Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)

or 4942(j)(5) for calendar year 2011 or the taxable year beginning in 2011 (see instructions for Part XIV on

page 27)? If “Yes,” complete Part XIV..........................

Did any persons become substantial contributors during the tax year? If “Yes,” attach a schedule listing their names and addresses. Click to see attachment

Yes

At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the

meaning of section 512(b)(13)? If "Yes," attach schedule. (see page 20 of the instructions) .......

Did the foundation acquire a direct or indirect interest in any applicable insurance contract before August 17, 2008?

Did the foundation comply with the public inspection requirements for its annual returns and exemption application?

Yes

Website address bullet

The books are in care of bullet

Trust Point Inc Telephone no. bullet

(608) 782-1148

Located at bullet

230 FRONT STREET NORTHLA CROSSEWI ZIP+4 bullet

54601

Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —Check here......... bullet

and enter the amount of tax-exempt interest received or accrued during the year ...... bullet

At any time during calendar year 2011, did the foundation have an interest in or a signature or other authority over

a bank, securities, or other financial account in a foreign country? .................

See page 20 of the instructions for exceptions and filing requirements for Form TD F 90-22.1. If "Yes", enter the name of the foreign country bullet

Form 990-PF (2011)

Page 5

Part VII-B

Statements Regarding Activities for Which Form 4720 May Be Required

File Form 4720 if any item is checked in the “Yes” column, unless an exception applies.

Yes

During the year did the foundation (either directly or indirectly):

(1) Engage in the sale or exchange, or leasing of property with a disqualified person? YesNo

(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)

a disqualified person?.........................YesNo

(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? YesNo

(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? YesNo

(5) Transfer any income or assets to a disqualified person (or make any of either available

for the benefit or use of a disqualified person)?.................YesNo

(6) Agree to pay money or property to a government official? (Exception. Check “No”

if the foundation agreed to make a grant to or to employ the official for a period

after termination of government service, if terminating within 90 days.).........YesNo

If any answer is “Yes” to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations

section 53.4941(d)-3 or in a current notice regarding disaster assistance (see page 20 of the instructions)?...

Organizations relying on a current notice regarding disaster assistance check here......... bullet

Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,

that were not corrected before the first day of the tax year beginning in 2011?.............

Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private

operating foundation defined in section 4942(j)(3) or 4942(j)(5)):

At the end of tax year 2011, did the foundation have any undistributed income (lines 6d

and 6e, Part XIII) for tax year(s) beginning before 2011?...............YesNo

If “Yes,” list the years bullet

20, 20, 20, 20

Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)

(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)

to all years listed, answer “No” and attach statement—see page 20 of the instructions.) .........

If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.

20, 20, 20, 20

Did the foundation hold more than a 2% direct or indirect interest in any business

enterprise at any time during the year?.....................YesNo

If “Yes,” did it have excess business holdings in 2011 as a result of (1) any purchase by the foundation

or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved

by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)

the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine

if the foundation had excess business holdings in 2011.)....................

Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?

Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its

charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2011?

During the year did the foundation pay or incur any amount to:

(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? YesNo

(2) Influence the outcome of any specific public election (see section 4955); or to carry

on, directly or indirectly, any voter registration drive?...............YesNo

(3) Provide a grant to an individual for travel, study, or other similar purposes? YesNo

(4) Provide a grant to an organization other than a charitable, etc., organization described

in section 509(a)(1), (2), or (3), or section 4940(d)(2)? (see page 22 of the instructions)...YesNo

(5) Provide for any purpose other than religious, charitable, scientific, literary, or

educational purposes, or for the prevention of cruelty to children or animals?........YesNo

If any answer is “Yes” to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in

Regulations section 53.4945 or in a current notice regarding disaster assistance (see page 22 of the instructions)?

Organizations relying on a current notice regarding disaster assistance check here......... bullet

If the answer is “Yes” to question 5a(4), does the foundation claim exemption from the

tax because it maintained expenditure responsibility for the grant?............YesNo

If “Yes,” attach the statement required by Regulations section 53.4945–5(d).

Did the foundation, during the year, receive any funds, directly or indirectly, to pay

premiums on a personal benefit contract?....................YesNo

Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....

If “Yes” to 6b, file Form 8870.

At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction? YesNo

If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....

Form 990-PF (2011)

Page 6

Part VIII

Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors

1 List all officers, directors, trustees, foundation managers and their compensation (see page 22 of the instructions).
(a) Name and address	(b) Title, and average hours per week devoted to position	(c) Compensation (If not paid, enter -0-)	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
Harry J Dahl	President 1	0
PO Box 788 La Crosse,WI546020788	President 1	0
Andrew J Dahl	Vice President 1	0
PO Box 788 La Crosse,WI546020788	Vice President 1	0
Jansen C Dahl	Secretary 1	0
PO Box 788 La Crosse,WI546020788	Secretary 1	0
Tyler J Dahl	Treasurer 1	0
PO Box 788 La Crosse,WI546020788	Treasurer 1	0
Trust Point Inc	Agent/Depository 1	13,931
230 Front Street North La Crosse,WI54601	Agent/Depository 1	13,931

2 Compensation of five highest-paid employees (other than those included on line 1—see page 23 of the instructions). If none, enter “NONE.”
(a) Name and address of each employee paid more than $50,000	(b) Title, and average hours per week devoted to position	(c) Compensation	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
NONE









Total number of other employees paid over $50,000...................				0

3 Five highest-paid independent contractors for professional services (see page 23 of the instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000	(b) Type of service	(c) Compensation
NONE

Total number of others receiving over $50,000 for professional services............. bullet

Part IX-A

Summary of Direct Charitable Activities

List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc.		Expenses
1


2


3


4

Form 990-PF (2011)

Page 7

Part IX-B

Summary of Program-Related Investments (see page 23 of the instructions)

Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2.		Amount
1


2


All other program-related investments. See page 24 of the instructions.
3

Total. Add lines 1 through 3.......................... bullet

Part X

Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,
see page 24 of the instructions.)

Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,

purposes:

Average monthly fair market value of securities...................

2,688,770

Average of monthly cash balances.......................

Fair market value of all other assets (see page 24 of the instructions)............

Total (add lines 1a, b, and c).........................

2,688,770

Reduction claimed for blockage or other factors reported on lines 1a and

1c (attach detailed explanation) .............

Acquisition indebtedness applicable to line 1 assets..................

Subtract line 2 from line 1d.........................

2,688,770

Cash deemed held for charitable activities. Enter 1 1⁄2% of line 3 (for greater amount, see page 25

of the instructions) ...........................

40,332

Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4

2,648,438

Minimum investment return. Enter 5% of line 5..................

132,422

Part XI

Distributable Amount (see page 25 of the instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here bullet

and do not complete this part.)

Minimum investment return from Part X, line 6....................

132,422

Tax on investment income for 2011 from Part VI, line 5......

1,671

Income tax for 2011. (This does not include the tax from Part VI.)...

Add lines 2a and 2b............................

1,671

Distributable amount before adjustments. Subtract line 2c from line 1............

130,751

Recoveries of amounts treated as qualifying distributions................

Add lines 3 and 4............................

130,751

Deduction from distributable amount (see page 25 of the instructions)...........

Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII,

line 1................................

130,751

Part XII

Qualifying Distributions (see page 25 of the instructions)

Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:

Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........

207,434

Program-related investments—total from Part IX-B..................

Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,

purposes...............................

Amounts set aside for specific charitable projects that satisfy the:

Suitability test (prior IRS approval required)....................

Cash distribution test (attach the required schedule) .................

Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4

207,434

Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment

income. Enter 1% of Part I, line 27b (see page 26 of the instructions)............

Adjusted qualifying distributions. Subtract line 5 from line 4..............

207,434

Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
the section 4940(e) reduction of tax in those years.

Form 990-PF (2011)

Page 8

Part XIII

Undistributed Income (see page 26 of the instructions)

		(a) Corpus	(b) Years prior to 2010	(c) 2010	(d) 2011
1 Distributable amount for 2011 from Part XI, line 7					130,751
2 Undistributed income, if any, as of the end of 2011:
a Enter amount for 2010 only.......				0
b Total for prior years:20, 20, 20			0
3 Excess distributions carryover, if any, to 2011:
a From 2006.......	0
b From 2007.......	43,683
c From 2008.......	57,179
d From 2009.......	36,945
e From 2010.......	31,015
fTotal of lines 3a through e.........		168,822
4Qualifying distributions for 2011 from Part
XII, line 4: $ 207,434
a Applied to 2010, but not more than line 2a				0
b Applied to undistributed income of prior years (Election required—see page 26 of the instructions)			0
c Treated as distributions out of corpus (Election required—see page 26 of the instructions)...		0
d Applied to 2011 distributable amount.....					130,751
e Remaining amount distributed out of corpus		76,683
5 Excess distributions carryover applied to 2011.		0			0
(If an amount appears in column (d), the same amount must be shown in column (a).)
6Enter the net total of each column as indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5		245,505
b Prior years’ undistributed income. Subtract line 4b from line 2b ...........			0
c Enter the amount of prior years’ undistributed income for which a notice of deficiency has been issued, or on which the section 4942(a) tax has been previously assessed......			0
d Subtract line 6c from line 6b. Taxable amount—see page 27 of the instructions ...			0
e Undistributed income for 2010. Subtract line 4a from line 2a. Taxable amount—see page 27 of the instructions ...........				0
f Undistributed income for 2011. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2011 ..........					0
7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or 4942(g)(3) (see page 27 of the instructions) ...........		0
8Excess distributions carryover from 2006 not applied on line 5 or line 7 (see page 27 of the instructions) .............		0
9Excess distributions carryover to 2012. Subtract lines 7 and 8 from line 6a ......		245,505
10 Analysis of line 9:
a Excess from 2007....	43,683
b Excess from 2008....	57,179
c Excess from 2009....	36,945
d Excess from 2010....	31,015
e Excess from 2011....	76,683

Form 990-PF (2011)

Page 9

Part XIV

Private Operating Foundations (see page 27 of the instructions and Part VII-A, question 9)

1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2011, enter the date of the ruling....... bullet

b Check box to indicate whether the organization is a private operating foundation described in section4942(j)(3) or4942(j)(5)

2a Enter the lesser of the adjusted net income from Part I or the minimum investment return from Part X for each year listed ..........	Tax year	Prior 3 years			(e) Total
	(a) 2011	(b) 2010	(c) 2009	(d) 2008	(e) Total

b 85% of line 2a .........
c Qualifying distributions from Part XII, line 4 for each year listed .....
d Amounts included in line 2c not used directly for active conduct of exempt activities ....
e Qualifying distributions made directly for active conduct of exempt activities. Subtract line 2d from line 2c ....
3 Complete 3a, b, or c for the alternative test relied upon:
a “Assets” alternative test—enter:
(1) Value of all assets ......
(2) Value of assets qualifying under section 4942(j)(3)(B)(i)
b “Endowment” alternative test— enter 2⁄3 of minimum investment return shown in Part X, line 6 for each year listed...
c “Support” alternative test—enter:
(1) Total support other than gross investment income (interest, dividends, rents, payments on securities loans (section 512(a)(5)), or royalties) ....
(2) Support from general public and 5 or more exempt organizations as provided in section 4942(j)(3)(B)(iii)....
(3) Largest amount of support from an exempt organization
(4) Gross investment income

Part XV

Supplementary Information (Complete this part only if the organization had $5,000 or more in
assets at any time during the year—see page 27 of the instructions.)

1Information Regarding Foundation Managers:

aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)

ANDREW DAHL JANSEN DAHL AND TYLER

bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.

2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:

Check here bullet

if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. (see page 28 of the instructions) to individuals or organizations
under other conditions, complete items 2a, b, c, and d.

aThe name, address, and telephone number of the person to whom applications should be addressed:

bThe form in which applications should be submitted and information and materials they should include:

cAny submission deadlines:

dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:

Form 990-PF (2011)

Page 10

Part XV

Supplementary Information (continued)

3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient	If recipient is an individual, show any relationship to any foundation manager or substantial contributor	Foundation status of recipient	Purpose of grant or contribution	Amount
Name and address (home or business)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
La Crosse Logan Alumni 1500 RANGER DRIVE La Crosse,WI54603	NONE	PUBLIC	EDUCATION	2,500
Tri-State Toe Picks FSC PO BOX 374 Onalaska,WI54650	NONE	PUBLIC	YOUTH ATHLETICS	250
Mississippi Valley Conservancy 201 MAIN ST 1000 La Crosse,WI54601	NONE	PUBLIC	ENVIRONMENTAL	10,000
United Way 1855 E MAIN ST 2 Onalaska,WI54650	NONE	PUBLIC	HUMANITARIAN	69,271
WATDA Foundation 150 E GILMAN SUITE A Madison,WI53703	NONE	PUBLIC	SCHOLARSHIP PROGRAM	500
Winona Historical Society 160 JOHNSON STREET Winona,MN55987	NONE	PUBLIC	HISTORICAL	334
Family & Children's Center 1707 MAIN ST 3 La Crosse,WI54601	NONE	PUBLIC	YOUTH DEVELOPMENT	50,500
UW-La Crosse Foundation 615 EAST AVENUE NORTH La Crosse,WI54601	NONE	PUBLIC	EDUCATION	50,000
Youth Shelters 300 4TH STREET NORTH La Crosse,WI54601	NONE	PUBLIC	HUMANITARIAN	500
Gateway Area Council Boy Scouts of America 2600 QUARRY ROAD La Crosse,WI54601	NONE	PUBLIC	GOLDEN EAGLE DINNER, LAWN SOCIAL	2,500
Great River Shakespeare Festival 79 EAST 3RD STREET Winona,MN55987	NONE	PUBLIC	ARTS	2,500
La Crosse Area Family YMCA 1140 MAIN STREET La Crosse,WI54601	NONE	PUBLIC	KIDS TRI-ATHALON	8,794
MN State College SE Technical 1250 HOMER ROAD Winona,MN55987	NONE	PUBLIC	EDUCATION	5,000
Tri-Quest Charities PO BOX 171 La Crosse,WI54602	NONE	PUBLIC	HUMANITARIAN	500
UFAH 119 KING STREET La Crosse,WI54601	NONE	PUBLIC	ARTS	1,000
Winona Community Foundation 51 E 4TH ST 314 Winona,MN55987	NONE	PUBLIC	COMMUNITY	2,500
Total ................................. 3a				206,649

bApproved for future payment

Total ................................. 3b

Form 990-PF (2011)

Page 11

Part XVI-A

Analysis of Income-Producing Activities

Enter gross amounts unless otherwise indicated.	Unrelated business income		Excluded by section 512, 513, or 514
1Program service revenue:	(a) Business code	(b) Amount	(c) Exclusion code	(d) Amount
a
b
c
d
e
f
gFees and contracts from government agencies
2 Membership dues and assessments....
3Interest on savings and temporary cash investments
4 Dividends and interest from securities....			14	53,086
5 Net rental income or (loss) from real estate:
aDebt-financed property......
bNot debt-financed property.....
6Net rental income or (loss) from personal property
7 Other investment income.....
8Gain or (loss) from sales of assets other than inventory			18	50,926
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory..
11 Other revenue: a
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e)..				104,012

13Total. Add line 12, columns (b), (d), and (e)..................

13104,012

(See worksheet in line 13 instructions on page 28 to verify calculations.)

Part XVI-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to the accomplishment of the organization’s exempt purposes (other than by providing funds for such purposes). (See page 28 of the instructions.)

Form 990-PF (2011)

Page 12

Part XVII

Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations

Did the organization directly or indirectly engage in any of the following with any other organization described in section

Yes

501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?

Transfers from the reporting foundation to a noncharitable exempt organization of:

(1) Cash...................................

1a(1)

(2) Other assets.................................

1a(2)

Other transactions:

(1) Sales of assets to a noncharitable exempt organization....................

1b(1)

(2) Purchases of assets from a noncharitable exempt organization..................

1b(2)

(3) Rental of facilities, equipment, or other assets.......................

1b(3)

(4) Reimbursement arrangements...........................

1b(4)

(5) Loans or loan guarantees.............................

1b(5)

(6) Performance of services or membership or fundraising solicitations................

1b(6)

Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............

If the answer to any of the above is “Yes,” complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.

(a) Line No.	(b) Amount involved	(c) Name of noncharitable exempt organization	(d) Description of transfers, transactions, and sharing arrangements

Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) of the Code (other than section 501(c)(3)) or in section 527?...........YesNo

If “Yes,” complete the following schedule.

(a) Name of organization	(b) Type of organization	(c) Description of relationship

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer or fiduciary) is based on all information of which preparer has any knowledge.

	Signature of officer or trustee	Date	Title

Preparer's Signature	Date	Check if self- employed	PTIN
Firm's name Firm's address		Firm's EIN
		Phone no.

Form 990-PF (2011)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

Name of organization DAHL FAMILY FOUNDATION 1035011887
Schedule B (Form 990, 990-EZ, or 990-PF) (2011)
Part I	Contributors (see Instructions). Use duplicate copies of Part I if additional space is needed.
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
1	Andrew Dahl Dahl Automotive PO Box 788 La Crosse, WI 54602	$1,001,213	Person Payroll Noncash (Complete Part II if there is a noncash contribution.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
2	Tyler Dahl Dahl Automotive PO Box 788 La Crosse, WI 54602	$993,902	Person Payroll Noncash (Complete Part II if there is a noncash contribution.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
3	Jansen Dahl Dahl Automotive PO Box 788 La Crosse, WI 54602	$986,662	Person Payroll Noncash (Complete Part II if there is a noncash contribution.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
4	Harry Dahl Dahl Automotive PO Box 788 La Crosse, WI 54602	$500,000	Person Payroll Noncash (Complete Part II if there is a noncash contribution.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II if there is a noncash contribution.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II if there is a noncash contribution.)
Schedule B (Form 990, 990-EZ, or 990-PF) (2011)

Name of organization DAHL FAMILY FOUNDATION 1035011887
Schedule B (Form 990, 990-EZ, or 990-PF) (2011)
Part II	Noncash Property (see Instructions). Use duplicate copies of Part II if additional space is needed.
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions).	(d) Date received
1	SHARES OF STOCK	$999,227
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions).	(d) Date received
2	SHARES OF STOCK	$992,411
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions).	(d) Date received
3	SHARES OF STOCK	$984,642
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions).	(d) Date received
4	SHARES OF STOCK	$500,000
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions).	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions).	(d) Date received
		$
Schedule B (Form 990, 990-EZ, or 990-PF) (2011)

Name	Address
Andrew Dahl	Dahl Automotive PO Box 788 La Crosse,WI54602
Tyler Dahl	Dahl Automotive PO Box 788 La Crosse,WI54602
Jansen Dahl	Dahl Automotive PO Box 788 La Crosse,WI54602
Harry Dahl	Dahl Automotive PO Box 788 La Crosse,WI54602

Description	End of Year - Book Value	End of Year - Fair Market Value
CALAMOS CONVERTIBLE FUND	53,668	45,048
DREIHAUS ACTIVE INCOME FUND	110,000	106,125
FEDERATED ULTRASHORT BOND INST	38,012	37,641
FEDERATED MORTGAGE INSTL	21,309	21,352
GOLDMAN SACHS HIGH YIELD FUND	72,883	69,089
LOOMIS SAYLES GLOBAL BOND FUND	34,858	34,166
PIMCO TOTAL RETURN INSTL	135,448	133,725
PIMCO FOREIGN BOND INSTL	46,470	47,156
PIMCO REAL RETURN FUND	74,922	78,035
VANGUARD CONVERTIBLE SEC	30,216	28,232
AGL RESOURCES INC	3,046	3,294
AT&T INC	18,455	18,416
ABAXIS INC	5,814	5,755
ALLIANZ NFJ DIVIDEND VALUE INS	36,472	42,439
ALLSCRIPTS HEALTHCARE SOLUTION	6,559	6,496
ALLSTATE CORP	7,598	7,154
AMERICA MOVIL S.A.B. DE C.V.	8,199	7,661
AMERICAN EXPRESS CO	12,730	12,453
AMERICAN TOWER CORP CLASS A	8,454	9,122
AMERISOURCEBERGEN CORP	16,443	15,285
ANGIODYNAMICS INC	5,534	5,643
ANIXTER INTERNATIONAL INC	7,927	7,515
APACHE CORP	18,106	13,859
APPLE INC	9,303	11,340
ASHLAND INC	7,997	7,431
ASTRAZENECA GROUP PLC SPONS	8,001	7,406
ATHENAHEALTH INC	5,778	6,435
ATMOS ENERGY CORP	5,377	5,536
AUTOLIV INC	10,394	7,649
BAE SYSTEMS PLC ADR	8,533	7,727
BASF SE SPONSORED ADR	9,693	7,625
BAIDU COM INC ADR	7,613	7,105
BANK NEW YORK MELLON CORP	10,726	8,820
BAXTER INTERNATIONAL INC	15,292	12,914
BAYER AG SPONSORED ADR	9,752	8,465
BEACON ROOFING SUPPLY INC	12,436	13,089
BEAM INC	13,580	14,652
BECTON DICKINSON & CO	12,086	10,685
BEMIS CO INC	4,466	4,211
BERRY PETROLEUM CO CLASS A	6,556	5,925
BEST BUY CO INC	9,904	7,291
BIO RAD LABS INC CLASS A	6,130	4,994
BIO-REFERENCE LABORATORIES	6,955	5,190
BIOMED REALTY TRUST	5,344	5,026
BRADY CORP	3,401	3,441
CBL & ASSOCIATES PROPERTIES	7,345	6,641
CME GROUP INC	11,438	9,990
CNOOC LTD SPONSORED ADR	10,414	7,861
CABOT MICROELECTRONICS CORP	7,535	7,560
CANADIAN NATL RAILWAY CO	19,278	20,033
CAPELLA EDUCATION CO	2,969	2,596
CAPITAL ONE FINANCIAL CORP	10,252	8,881
CASS INFORMATION SYSTEMS INC	4,352	4,683
CEPHEID INC	11,406	12,628
CERNER CORP	5,584	5,880
CHEESECAKE FACTORY INC	8,031	8,042
CHEMED CORP	13,187	10,293
CHEVRON CORP	21,328	22,770
CHICAGO BRIDGE & IRON CO NV	8,615	9,299
CHICOS FAS INC	7,277	5,347
CHINA MOBILE LTD ADR	7,400	7,613
CHINA PETROLEUM & CHEMICAL COR	7,381	8,089
CISCO SYSTEMS INC	9,500	11,390
COACH INC	11,019	11,292
COCA COLA CO	10,368	11,125
COLGATE-PALMOLIVE CO	9,853	10,810
COLONIAL PROPERTIES TRUST	5,459	5,716
COLONY FINANCIAL INC	6,345	5,483
COMMUNITY TRUST BANCORP INC	4,643	5,090
COMPANHIA ENERGETICA DE MINAS	9,528	8,877
COMPANHIA PARANAENSE DE ENERGI	10,265	8,350
COMPANHIA DE BEDIDAS DAS AMERI	7,279	8,265
CONCUR TECHNOLOGIES INC	5,594	6,247
CONOCOPHILLIPS	14,645	15,011
CONSTANT CONTACT INC	2,985	2,901
COSTAR GROUP INC	4,381	5,005
COUSINS PROPERTIES INC	6,567	5,173
COVANCE INC	7,343	6,081
DBS GROUP HOLDINGS LTD ADR	9,180	7,250
DEALERTRACK HOLDINGS INC	5,364	6,951
DEERE & CO	12,574	12,299
DELAWARE EMERGING MARKETS	175,218	143,476
DEVON ENERGY CORP	14,071	11,470
DIGI INTERNATIONAL INC	6,295	5,859
DOMTAR CORP	9,483	8,076
DOVER CORP	14,237	13,352
DU PONT E I DE NEMOURS & CO	12,700	11,399
EMC CORP	19,802	17,232
EBAY INC	8,201	8,219
EBIX INC	6,348	6,917
ECHELON CORP	4,721	2,542
ECHO GLOBAL LOGISTICS INC	4,723	4,603
ELECTRO SCIENTIFIC INDUSTRIES	5,193	4,692
EMERSON ELECTRIC CO	9,893	9,038
ENERSIS SA	9,513	7,405
ENERNOC INC	2,112	1,707
DELHAIZE GROUP SPONSORED ADR	9,531	6,762
EXXON MOBIL CORP	11,453	12,036
FARO TECHNOLOGIES INC	5,236	6,072
FASTENAL CO	8,371	10,903
FINANCIAL ENGINES INC	4,063	3,640
FIRST AMERICAN FINANCIAL CORP	7,915	6,588
FOMENTO ECONOMICO MEXICANO ADR	6,993	7,738
FORRESTER RESEARCH INC	5,506	5,295
FORTUNE BRANDS HOME & SECURITY	2,233	2,725
FORWARD AIR CORP	4,322	4,295
FOSTER LB CO	4,438	4,074
FREEPORT MCMORAN COPPER & GOLD	20,461	15,489
GAMCO INVESTORS INC	5,188	5,045
GT ADVANCED TECHNOLOGIES INC	11,536	5,973
GAYLORD ENTERTAINMENT CO	6,440	5,552
GAZPROM OAO DR	10,356	8,265
GENERAL ELECTRIC CO	21,422	21,331
GENESCO INC	4,118	5,989
GENTEX CORP	7,443	8,463
GOLDMAN SACHS GROUP INC	11,209	7,777
GOLDMAN SACHS SMALL VALUE IS	41,549	39,952
GOODRICH CO	7,660	10,886
GOODRICH PETROLEUM CORP	6,363	4,860
GOOGLE INC CLASS A	9,560	12,918
GRAND CANYON EDUCATION INC	2,814	3,352
GROUP CGI INC CLASS A	9,122	7,578
GUIDANCE SOFTWARE INC	1,894	1,626
HALLIBURTON CO	5,392	5,315
HANCOCK JOHN BK & THRIFT OPPOR	3,089	2,726
HARBOR CAPITAL APPRECIATION FD	33,971	32,953
HEARTLAND EXPRESS INC	6,768	6,102
HESS CORP	9,031	7,384
PYXIS LONG/SHORT EQUITY FUND	155,000	158,176
HITACHI LTD SPONSORED ADR	8,597	7,821
HONEYWELL INTERNATIONAL INC	11,277	11,033
HUMANA INC	10,622	12,003
ICU MEDICAL INC	5,084	5,715
IPC THE HOSPITALIST CO INC	6,469	6,401
INNERWORKINGS INC	4,146	4,720
INTEGRA LIFESCIENCES HOLDINGS	6,323	4,162
INTEL CORP	14,678	16,223
INT'L BUSINESS MACHINES CORP	9,532	10,665
INTUITIVE SURGICAL INC	9,782	12,964
ISHARES RUSSELL MID CAP ETF	347,294	329,116
JPMORGAN CHASE & CO	15,469	12,934
JUNIPER NETWORKS INC	15,525	11,205
KINGFISHER PLC ADR	7,836	7,145
KOHLS CORP	7,921	7,797
KOMATSU LTD SPONSORED ADR	10,561	8,534
KRAFT FOODS INC	10,723	11,582
LKQ CORP	8,392	10,257
LVMH MOET HENNESSY LOUIS VUITT	7,590	7,158
LABORATORY CORP OF AMERICA HLD	9,850	9,027
LANDEC CORP	2,316	2,076
LATTICE SEMICONDUCTOR CORP	5,722	5,411
MAXIMUS INC	7,672	8,270
MC DONALDS CORP	9,928	12,140
MEAD JOHNSON NUTRITION CO	10,387	10,103
MEDTOX SCIENTIFIC INC	1,839	1,560
MEDNAX INC	9,737	10,081
MICROSOFT CORP	12,476	13,110
MILLER HERMAN INC	7,461	5,258
MITSUI & CO LTD SPONSORED ADR	8,372	7,779
MOBILE MINI INC	3,336	2,809
MORGAN STANLEY INSTL SMALL COM	42,997	38,709
MUELLER INDUSTRIES INC	4,185	4,534
NACCO INDUSTRIES INC	6,027	5,978
NAPCO SECURITY TECHNOLOGIES	737	637
NATIONAL INSTRUMENTS CORP	12,654	11,937
NATIONAL-OILWELL INC	12,475	12,102
NATIONAL PENN BANCSHARES INC	4,491	4,971
NEOGEN CORP	8,256	6,159
NEXTERA ENERGY INC	11,537	12,480
NIPPON TELEGRAPH & TELEPHONE	7,146	7,726
NISSAN MOTOR CO LTD SPONSORED	8,335	7,195
MUTUALHEDGE FRONTIER LEGENDS	155,000	146,383
OCCIDENTAL PETROLEUM CORP	13,472	12,650
OLD NATIONAL BANCORP	5,585	6,373
ORACLE CORP	9,992	8,259
PAN AMERICAN SILVER CORP	8,012	5,845
PAPA JOHN'S INT'L INC	6,499	7,950
PAREXEL INTERNATIONAL CORP	6,037	5,392
PARTNER COMMUNICATIONS CO	10,798	6,356
PEGASYSTEMS INC	6,794	4,763
PHILLIP MORRIS INTL INC	8,463	9,810
PHOTRONICS INC	5,414	4,365
PIEDMONT NATURAL GAS CO	4,825	5,573
PINNACLE WEST CAPITAL CORP	5,097	5,637
POLARIS INDUSTRIES INC	5,086	5,598
POLYONE CORP	8,273	6,514
POOL CORP	4,554	5,328
PORTFOLIO RECOVERY ASSOCIATES	9,431	7,967
PORTLAND GENERAL ELECTRIC CO	4,054	4,375
POWER INTEGRATIONS INC	6,778	6,300
PRAXAIR INC	10,600	11,331
T ROWE PRICE GROUP INC	12,102	12,130
PROCTER & GAMBLE CO	16,292	17,211
PROTECTIVE LIFE CORP	1,805	1,850
PROVIDENT FINANCIAL SERVICES	6,666	6,508
PUBLIC SERVICE ENTERPRISE GRP	12,673	13,105
QUALCOMM INC	11,706	11,378
QUALITY SYSTEMS INC	5,128	4,661
QUEST DIAGNOSTICS INC	6,307	6,329
REDWOOD TRUST INC	4,731	3,227
RELIANCE STEEL & ALUMINUM CO	5,901	5,989
RESOURCES CONNECTION INC	3,582	3,177
RIO TINTO PLC SPONSORED ADR	9,819	7,338
RITCHIE BROS AUCTIONEERS INC	11,285	9,737
ROLLINS INC	12,865	14,943
ROYAL DUTCH SHELL PLC SPONSOR	7,545	8,332
SPS COMMERCE INC	3,800	5,475
ST JUDE MEDICAL INC	12,951	9,707
SAN DISK CORP	8,718	10,580
SCHLUMBERGER LTD	13,390	11,408
SEMTECH CORP	10,539	10,102
SHIRE PLC	7,100	8,208
SIEMENS AG SPONSORED ADR	9,647	7,266
SMUCKER JM CO	8,770	8,990
SNAP-ON INC	5,933	5,315
SOHU.COM INC	8,773	6,700
STARBUCKS CORP	9,578	12,331
STATOIL ASA SPONSORED ADR	8,066	8,400
STRATASYS INC	4,090	4,197
SWIFT ENERGY CO	5,703	5,052
SYKES ENTERPRISES INC	7,445	5,998
TJX COMPANIES INC	9,486	12,200
TECHNE CORP	7,110	6,143
TELEFONICA BRASIL SA SP ADR	7,860	7,516
TELENOR ASA	7,515	7,939
TERADATA CORP DEL	10,917	9,459
TIM PARTICIPACOES	8,592	7,869
TIME WARNER CABLE INC	9,721	8,328
US BANCORP DEL	7,558	8,521
ULTIMATE SOFTWARE GROUP INC	11,880	14,978
UNIFIRST CORP	4,911	5,447
UNITED FINANCIAL BANCORP INC	4,068	4,232
UNITED NATURAL FOODS INC	9,052	9,122
UNITED PARCEL SERVICE	11,234	11,564
UNITED TECHNOLOGIES CORP	25,526	22,658
VALE SA-SP	9,413	6,714
VALEO SA	9,857	6,518
VANGUARD LARGE CAP ETF	286,537	283,807
VERINT SYSTEMS INC	6,643	5,646
VOLKSWAGEN AG SPONSORED ADR	9,619	7,670
WAL MART STORES INC	14,442	16,314
WALGREEN CO	10,567	10,348
WALTER INVESTMENT MGMT CORP	6,818	5,747
WATSON PHARMACEUTICALS	14,503	13,456
WEBSTER FINANCIAL CORP	4,670	4,812
WEIS MARKETS INC	5,787	5,871
WELLS FARGO & CO	18,067	18,410
WERNER ENTERPRISES INC	5,641	5,591
WESBANCO INC	4,265	4,420
YANZHOU COAL MINING LTD	11,819	7,466
ALTERRA CAPITAL HOLDINGS LTD	6,838	7,443
ACCENTURE PLC	10,479	10,007
FABRINET	3,051	2,066
HERBALIFE LTD	7,334	7,182
MAIDEN HOLDINGS LTD	4,545	4,292
SIGNET JEWELERS LIMITED	8,045	8,352
WARNER CHILCOTT PLC	10,707	7,293
ALLIED WORLD ASSURANCE HOLDING	8,036	8,558
TRANSOCEAN LTD	11,105	7,217
CHECK POINT SOFTWARE	17,633	16,655
AERCAP HOLDING NV	9,328	8,580
ASML HOLDING NV	7,112	8,442
STEINER LEISURE LTD	5,863	5,810
FLEXTRONICS INTERNATIONAL LTD	7,703	6,815
FEDERATED TAX-FREE OBLIGATIONS	50,691	50,691
CASH	875	875

Category	Amount	Net Investment Income
FOREIGN TAX PAID	377	377
FEDERAL TAX PAYMENT - PRIOR YE	36	36
FEDERAL ESTIMATES - PRINCIPAL	164	164
FOREIGN TAXES ON QUALIFIED FOR	19	19