Genesee Valley Trust Company

Genesee Valley Trust Company as of March 31, 2013

Portfolio Holdings for Genesee Valley Trust Company

Genesee Valley Trust Company holds 0 positions in its portfolio as reported in the March 2013 quarterly 13F filing

                Voting Authority
                                                          Market                  SH/   Invest  Other
Name Of Issuer                  Type         Cusip         Value        Shares/PV PRN   Disc    Mgrs    Sole   Share      None

{S}                             {C}          {C}           {C}              {C}   {C}   {C}     {C}   {C}
AES Corp.                        Com        00130H105           208     16,561   SH     Sole        0        0        0 16,561

Amn Healthcare Services Inc      Com        001744101           169     10,650   SH     Sole        0        0        0 10,650

AT^T Inc.                        Com        00206R102           775     21,136   SH     Sole        0        0        0 21,136

Abbott Laboratories              Com        002824100           810     22,936   SH     Sole        0        0        0 22,936

Abercrombie & Fitch Co.          Com        002896207           372      8,043   SH     Sole        0        0        0  8,043

Aetna Inc New                    Com        00817Y108           234      4,569   SH     Sole        0        0        0  4,569

Affiliated Managers Group Inc    Com        008252108           216      1,405   SH     Sole        0        0        0  1,405

Agrium Inc.                      Com        008916108           294      3,018   SH     Sole        0        0        0  3,018

ADR Akzo Nobel NV Sponsored      Com        010199305           401     18,937   SH     Sole        0        0        0 18,937

Alleghany Corp Del               Com        017175100           271        685   SH     Sole        0        0        0    685

Allergan                         Com        018490102           736      6,591   SH     Sole        0        0        0  6,591

Alliance Resource Partners  Ltd  Com        01877R108           255      4,000   SH     Sole        0        0        0  4,000

Allstate Corp.                   Com        020002101           291      5,930   SH     Sole        0        0        0  5,930

Altra Holdings Inc               Com        02208R106           223      8,200   SH     Sole        0        0        0  8,200

Altria Group Inc                 Com        02209S103           348     10,115   SH     Sole        0        0        0 10,115

Amazon Com Inc                   Com        023135106           365      1,369   SH     Sole        0        0        0  1,369

Amern Intl Group Inc New         Com        026874784           209      5,381   SH     Sole        0        0        0  5,381

American Tower Com               Com        03027X100           212      2,752   SH     Sole        0        0        0  2,752

Anheuser Busch Inbev Sa/Nv       Com        03524A108           242      2,432   SH     Sole        0        0        0  2,432
Sponsored ADR

Apple Inc                        Com        037833100           950      2,147   SH     Sole        0        0        0  2,147

Astrazeneca Plc Adr              Com        046353108           271      5,415   SH     Sole        0        0        0  5,415

Avery Dennison Corp              Com        053611109           212      4,913   SH     Sole        0        0        0  4,913

Avnet Inc.                       Com        053807103           336      9,275   SH     Sole        0        0        0  9,275

BCE Inc New                      Com        05534B760           289      6,190   SH     Sole        0        0        0  6,190

BG Group Plc                     Com        055434203           237     13,802   SH     Sole        0        0        0 13,802

BP Plc Sponsored Adr             Com        055622104           333      7,854   SH     Sole        0        0        0  7,854

BNP Paribas Sponsored Adr        Com        05565A202           247      9,611   SH     Sole        0        0        0  9,611

Banco De Santander Cent          Com        05964H105           139     20,370   SH     Sole        0        0        0 20,370
Hispano S A Adr

Barclays Plc Adr                 Com        06738E204           355     20,005   SH     Sole        0        0        0 20,005

Baxter International, Inc.       Com        071813109           375      5,167   SH     Sole        0        0        0  5,167

Bayer Ag Sponsored Adr           Com        072730302           492      4,765   SH     Sole        0        0        0  4,765

Becton Dickinson & Co            Com        075887109           399      4,170   SH     Sole        0        0        0  4,170

Bemis Inc                        Com        081437105           236      5,859   SH     Sole        0        0        0  5,859

Berkshire Hathaway Inc Del Cl A  Com        084670108           313          2   SH     Sole        0        2        0      0

Berkshire Hills Bancorp Inc      Com        084680107           209      8,180   SH     Sole        0        0        0  8,180

Biomed Realty Trust Inc          Com        09063H107           454     21,039   SH     Sole        0        0        0 21,039

Blackrock Inc                    Com        09247X101           416      1,620   SH     Sole        0        0        0  1,620

Boeing Co                        Com        097023105           498      5,800   SH     Sole        0        0        0  5,800

Boston Scientific Corp           Com        101137107           169     21,657   SH     Sole        0        0        0 21,657

BrandyWine Realty                Com        105368203           605     40,736   SH     Sole        0        0        0 40,736

Bristol-Myers Squibb Co.         Com        110122108           205      4,972   SH     Sole        0        0        0  4,972

Brookline Bancorp Inc            Com        11373M107           105     11,505   SH     Sole        0        0        0 11,505

CBRE Group Inc Cl A              Com        12504L109           260     10,303   SH     Sole        0        0        0 10,303

Cleco Corp New                   Com        12561W105           483     10,261   SH     Sole        0        0        0 10,261

CMS Energy Corporation           Com        125896100           365     13,054   SH     Sole        0        0        0 13,054

CVS/Caremark Corp                Com        126650100         1,242     22,583   SH     Sole        0        0        0 22,583

Canadian Natl Ry Co              Com        136375102           270      2,687   SH     Sole        0        0        0  2,687

Capital One Financial            Com        14040H105           272      4,943   SH     Sole        0        0        0  4,943

Carefusion Corp                  Com        14170T101           212      6,070   SH     Sole        0        0        0  6,070

Carnival Corp                    Com        143658300           260      7,571   SH     Sole        0        0        0  7,571

Chevron Corporation              Com        166764100           974      8,195   SH     Sole        0        0        0  8,195

Circor Intl Inc                  Com        17273K109           207      4,880   SH     Sole        0        0        0  4,880

Coca Cola Co                     Com        191216100           620     15,343   SH     Sole        0        0        0 15,343

Coca-Cola Enterprises Inc        Com        19122T109           411     11,140   SH     Sole        0        0        0 11,140

Cognizant Tech Solutions Corp    Com        192446102           512      6,687   SH     Sole        0        0        0  6,687
Cl A

Colgate Palmolive Co             Com        194162103           220      1,865   SH     Sole        0        0        0  1,865

Comcast Corp New Cl A            Com        20030N101           215      5,123   SH     Sole        0        0        0  5,123

Comcast Corp New Cl A Spl        Com        20030N200           581     14,677   SH     Sole        0        0        0 14,677

ConocoPhillips                   Com        20825C104           297      4,945   SH     Sole        0        0        0  4,945

Crown Castle Intl Corp           Com        228227104           270      3,878   SH     Sole        0        0        0  3,878

Dbs Group Hldgs Ltd              Com        23304Y100           288      5,581   SH     Sole        0        0        0  5,581
Sponsored Adr

Danaher Corp                     Com        235851102           653     10,508   SH     Sole        0        0        0 10,508

Danone Sa Adr                    Com        23636T100           267     19,162   SH     Sole        0        0        0 19,162

Darden Restaurants Inc           Com        237194105           310      5,993   SH     Sole        0        0        0  5,993

Delta Air Lines Inc              Com        247361702           285     17,264   SH     Sole        0        0        0 17,264

Denso Corp.                      Com        24872B100           394     18,630   SH     Sole        0        0        0 18,630

Devon Energy Corp New            Com        25179M103           290      5,139   SH     Sole        0        0        0  5,139

Diageo Plc New Adr               Com        25243Q205           701      5,569   SH     Sole        0        0        0  5,569

Diamondrock Hospitality Co       Com        252784301           140     15,038   SH     Sole        0        0        0 15,038

Disney Walt Co                   Com        254687106           545      9,599   SH     Sole        0        3        0  9,596

Discover Finl Svcs               Com        254709108           225      5,026   SH     Sole        0        0        0  5,026

Discovery Communications Inc     Com        25470F104           307      3,900   SH     Sole        0        0        0  3,900
New Ser A

Dover Corp                       Com        260003108           308      4,222   SH     Sole        0    2,700        0  1,522

Dow Chemical Co                  Com        260543103           333     10,471   SH     Sole        0        0        0 10,471

Du Pont De Nemours Ei Co         Com        263534109           271      5,511   SH     Sole        0        0        0  5,511

EMC Corp Mass                    Com        268648102           332     13,906   SH     Sole        0        0        0 13,906

East Japan Railway Co       Adr  Com        273202101           413     30,143   SH     Sole        0        0        0 30,143

eBay, Inc.                       Com        278642103           226      4,172   SH     Sole        0        0        0  4,172

Edwards Lifesciences Corp        Com        28176E108           448      5,450   SH     Sole        0        0        0  5,450

Electronic Arts                  Com        285512109           183     10,315   SH     Sole        0        0        0 10,315

Emcor Group                      Com        29084Q100           344      8,115   SH     Sole        0        0        0  8,115

Energen Corp.                    Com        29265N108           357      6,870   SH     Sole        0        0        0  6,870

Entegris Inc                     Com        29362U104           181     18,365   SH     Sole        0        0        0 18,365

Enterprise Prods Partners LP     Com        293792107           270      4,480   SH     Sole        0        0        0  4,480

Ericsson Adr                     Com        294821608           159     12,618   SH     Sole        0        0        0 12,618

Evercore Partners Inc            Com        29977A105           208      4,990   SH     Sole        0        0        0  4,990

Excel Trust Inc Com              Com        30068C109           242     17,705   SH     Sole        0        0        0 17,705

Express Scripts Hldg Co          Com        30219G108           435      7,546   SH     Sole        0        0        0  7,546

Exxon-Mobil Corp                 Com        30231G102         1,487     16,501   SH     Sole        0        0        0 16,501

Factset Resh Sys Inc             Com        303075105           236      2,547   SH     Sole        0        0        0  2,547

Family Dollar Stores Inc         Com        307000109           273      4,622   SH     Sole        0        0        0  4,622

Fastenal Company                 Com        311900104           313      6,089   SH     Sole        0        0        0  6,089

Fidelity Natl Information Svcs   Com        31620M106           333      8,404   SH     Sole        0        0        0  8,404
Inc.

Fidelity National Financial Inc  Com        31620R105           350     13,872   SH     Sole        0        0        0 13,872

Fifth Third Bancorp              Com        316773100           434     26,635   SH     Sole        0        0        0 26,635

The Finish Line Inc              Com        317923100           211     10,756   SH     Sole        0        0        0 10,756

First Ctzns Bancshares Inc Ncl   Com        31946M103           295      1,614   SH     Sole        0        0        0  1,614
A

First Niagara Bank               Com        33582V108           124     13,966   SH     Sole        0        0        0 13,966

Foot Locker Inc                  Com        344849104           441     12,872   SH     Sole        0        0        0 12,872

Ford Motor Company               Com        345370860           263     19,984   SH     Sole        0        0        0 19,984

GDF Suez                         Com        36160B105           222     11,523   SH     Sole        0        0        0 11,523
Spons Adr

GNC Holdings Inc                 Com        36191G107           303      7,708   SH     Sole        0        0        0  7,708

Gannett Co Inc                   Com        364730101           348     15,919   SH     Sole        0        0        0 15,919

General Electric Co.             Com        369604103           680     29,393   SH     Sole        0        0        0 29,393

General Mills Inc                Com        370334104           747     15,154   SH     Sole        0        0        0 15,154

Genuine Parts Co                 Com        372460105           264      3,380   SH     Sole        0        0        0  3,380

PH Glatfelter                    Com        377316104           218      9,320   SH     Sole        0        0        0  9,320

Goldman Sachs Group Inc.         Com        38141G104           962      6,540   SH     Sole        0        0        0  6,540

Goldman Sachs Satellite          Com        38143H332         4,611    556,910   SH     Sole        0   19,429        0537,481
Strategies Ptf, Insti

Google Inc                       Com        38259P508         1,426      1,796   SH     Sole        0        0        0  1,796

Hcc Ins Hldgs Inc                Com        404132102           211      5,013   SH     Sole        0        0        0  5,013

HCP Inc REIT                     Com        40414L109           291      5,830   SH     Sole        0        0        0  5,830

HSBC Hldgs Plc Spons Adr New     Com        404280406           503      9,439   SH     Sole        0        0        0  9,439

Halliburton Co                   Com        406216101           275      6,800   SH     Sole        0        0        0  6,800

Healthsouth Corp.                Com        421924309           248      9,398   SH     Sole        0        0        0  9,398

Health Care Reit Inc             Com        42217K106           298      4,385   SH     Sole        0        0        0  4,385

Heineken NV ADR Level 1          Com        423012301           352      9,323   SH     Sole        0        0        0  9,323

Heinz H J Co                     Com        423074103           432      5,978   SH     Sole        0        0        0  5,978

Helmerich & Payne Inc            Com        423452101           251      4,134   SH     Sole        0        0        0  4,134

Hennes & Mauritz Ab ADR          Com        425883105           147     20,503   SH     Sole        0        0        0 20,503

Hess Corp.                       Com        42809H107           213      2,969   SH     Sole        0        0        0  2,969

Honda Motor Corp                 Com        438128308           507     13,250   SH     Sole        0        0        0 13,250

Honeywell Intl Inc               Com        438516106           805     10,688   SH     Sole        0        0        0 10,688

Hutchison Whampoa Ltd-Adr        Com        448415208           386     18,539   SH     Sole        0        0        0 18,539

ING Groep NV Sponsored Adr       Com        456837103           186     25,754   SH     Sole        0        0        0 25,754

Intel Corp.                      Com        458140100           236     10,810   SH     Sole        0        0        0 10,810

Intl Business Machines Corp      Com        459200101         1,328      6,224   SH     Sole        0        0        0  6,224

Intl Paper Co                    Com        460146103           370      7,945   SH     Sole        0        0        0  7,945

Intuit                           Com        461202103           310      4,717   SH     Sole        0        0        0  4,717

Intuitive Surgical               Com        46120E602           435        885   SH     Sole        0        0        0    885

JP Morgan Chase & Co             Com        46625H100         1,618     34,092   SH     Sole        0        0        0 34,092

Johnson & Johnson                Com        478160104         2,126     26,075   SH     Sole        0        0        0 26,075

Johnson Controls Inc             Com        478366107           321      9,167   SH     Sole        0        0        0  9,167

KBR Inc                          Com        48242W106           313      9,762   SH     Sole        0        0        0  9,762

Kla-Tencor Corp.                 Com        482480100           223      4,231   SH     Sole        0        0        0  4,231

KDDI Corp Adr                    Com        48667L106           242     11,965   SH     Sole        0        0        0 11,965

Keppel Ltd                       Com        492051305           339     18,800   SH     Sole        0        0        0 18,800

Key Corp.                        Com        493267108           342     34,339   SH     Sole        0        0        0 34,339

Kilroy Rlty Corp                 Com        49427F108           505      9,629   SH     Sole        0        0        0  9,629

Kimberly Clark Corp              Com        494368103           336      3,430   SH     Sole        0        0        0  3,430

Kinder Morgan Inc Del Com        Com        49456B101           261      6,744   SH     Sole        0        0        0  6,744

Kraft Foods Group Inc            Com        50076Q106           346      6,707   SH     Sole        0        0        0  6,707

Kroger & Co                      Com        501044101           353     10,658   SH     Sole        0        0        0 10,658

Li & Fung Ltd                    Com        501897102           143     51,997   SH     Sole        0        0        0 51,997

LTX - Credence Corp              Com        502403207           133     22,010   SH     Sole        0        0        0 22,010

Lvmh Moet Hennessy Lou Vuittadr  Com        502441306           221      6,441   SH     Sole        0        0        0  6,441

Lilly Eli & Co                   Com        532457108           373      6,565   SH     Sole        0        0        0  6,565

Lincoln National Corp            Com        534187109           938     28,756   SH     Sole        0        0        0 28,756

Lockheed Martin Corp Com         Com        539830109         1,206     12,493   SH     Sole        0        0        0 12,493

Lorillard Inc                    Com        544147101           588     14,583   SH     Sole        0        0        0 14,583

McDonalds Corp                   Com        580135101           211      2,120   SH     Sole        0        0        0  2,120

Merck & Co Inc New               Com        58933Y105           400      9,051   SH     Sole        0        0        0  9,051

Metlife, Inc.                    Com        59156R108         1,075     28,274   SH     Sole        0        0        0 28,274

Microsoft Corporation            Com        594918104         1,116     38,999   SH     Sole        0        0        0 38,999

Micron Technology Inc.           Com        595112103           166     16,635   SH     Sole        0        0        0 16,635

Mitsubishi UFJ Finl Group Inc.   Com        606822104           250     41,662   SH     Sole        0        0        0 41,662
ADR

Mondelez Intl Inc                Com        609207105           341     11,151   SH     Sole        0        0        0 11,151

Monsanto Co New                  Com        61166W101           606      5,736   SH     Sole        0        0        0  5,736

Moody's Corp                     Com        615369105           520      9,750   SH     Sole        0        0        0  9,750

Mosaic Holding Company           Com        61945C103           334      5,596   SH     Sole        0        0        0  5,596

Mueller Industries Inc           Com        624756102           254      4,775   SH     Sole        0        0        0  4,775

NRG Energy Inc                   Com        629377508           374     14,102   SH     Sole        0        0        0 14,102

National Oilwell Varco, Inc.     Com        637071101           464      6,565   SH     Sole        0        0        0  6,565

Nektar Therapeutics              Com        640268108           204     18,545   SH     Sole        0        0        0 18,545

Nestle Adr                       Com        641069406         1,032     14,229   SH     Sole        0        0        0 14,229

Newell Rubbermaid Inc            Com        651229106           388     14,875   SH     Sole        0        0        0 14,875

NextEra Energy Inc               Com        65339F101           301      3,875   SH     Sole        0        0        0  3,875

Nike, Inc. Class B               Com        654106103           399      6,764   SH     Sole        0        0        0  6,764

Nisource Inc.                    Com        65473P105           430     14,661   SH     Sole        0        0        0 14,661

Norfolk Southern Corp            Com        655844108           375      4,863   SH     Sole        0        0        0  4,863

Northrup Grumman Corp.           Com        666807102           245      3,490   SH     Sole        0        0        0  3,490

Northwestern Corp                Com        668074305           253      6,354   SH     Sole        0        0        0  6,354

Novartis Ag Sponsored Adr        Com        66987V109           546      7,663   SH     Sole        0        0        0  7,663

Nucor Corp                       Com        670346105           434      9,396   SH     Sole        0        0        0  9,396

Occidental Petroleum             Com        674599105           683      8,713   SH     Sole        0        0        0  8,713

Omnicare Inc                     Com        681904108           318      7,811   SH     Sole        0        0        0  7,811

Omnivision Technologies Inc      Com        682128103           149     10,800   SH     Sole        0        0        0 10,800

On Semiconductor Corp            Com        682189105           256     30,931   SH     Sole        0        0        0 30,931

Oracle Corporation               Com        68389X105           731     22,602   SH     Sole        0        0        0 22,602

PNC Financial Services Group     Com        693475105           322      4,847   SH     Sole        0        0        0  4,847

PPG Ind Inc                      Com        693506107           484      3,611   SH     Sole        0        0        0  3,611

Pt Bank Mandiri TBK              Com        69367U105           145     14,093   SH     Sole        0        0        0 14,093

Patterson Uti Energy Inc         Com        703481101           460     19,311   SH     Sole        0        0        0 19,311

Paychex Inc.                     Com        704326107           360     10,260   SH     Sole        0        0        0 10,260

Peabody Energy Corp              Com        704549104           251     11,853   SH     Sole        0        0        0 11,853

Pepsico Inc                      Com        713448108           241      3,051   SH     Sole        0        0        0  3,051

Pfizer Inc.                      Com        717081103         1,448     50,187   SH     Sole        0        0        0 50,187

Philip Morris Intl Inc           Com        718172109         1,623     17,506   SH     Sole        0        0        0 17,506

Precision Castparts Corp         Com        740189105           547      2,887   SH     Sole        0        0        0  2,887

Price T Rowe Associates Inc.     Com        74144T108           381      5,087   SH     Sole        0        0        0  5,087

Procter & Gamble Co              Com        742718109           665      8,636   SH     Sole        0        0        0  8,636

Provident New York Bancorp       Com        744028101           146     16,128   SH     Sole        0        0        0 16,128

Prudential Financial Inc         Com        744320102           634     10,748   SH     Sole        0        0        0 10,748

Publicis Groupe SA               Com        74463M106           194     11,537   SH     Sole        0        0        0 11,537

Qualcomm Inc                     Com        747525103           860     12,840   SH     Sole        0        0        0 12,840

Range Res. Corp                  Com        75281A109           262      3,233   SH     Sole        0        0        0  3,233

Raymond James Financial Inc.     Com        754730109           468     10,153   SH     Sole        0        0        0 10,153

Raytheon Co Com New              Com        755111507           271      4,615   SH     Sole        0        0        0  4,615

Reckitt Benckiser Pl             Com        756255204           246     17,169   SH     Sole        0        0        0 17,169

Regions Finl Corp New            Com        7591EP100           966    117,999   SH     Sole        0        0        0117,999

Rio Tinto Plc Adr                Com        767204100           533     11,322   SH     Sole        0        0        0 11,322

Roche Holdings Ltd Adr           Com        771195104           594     10,184   SH     Sole        0        0        0 10,184

Rockwell Automation              Com        773903109           248      2,867   SH     Sole        0        0        0  2,867

Roper Inds Inc New               Com        776696106           227      1,786   SH     Sole        0        0        0  1,786

Royal Dutch Shell Plc Adr Cl B   Com        780259107           225      3,360   SH     Sole        0        0        0  3,360

Royal Dutch Shell Plc Adr Cl A   Com        780259206           799     12,257   SH     Sole        0        0        0 12,257

Ryder System Inc Com             Com        783549108           409      6,839   SH     Sole        0        0        0  6,839

Ryland Group Inc                 Com        783764103           225      5,416   SH     Sole        0        0        0  5,416

St. Jude Medical, Inc.           Com        790849103           408     10,084   SH     Sole        0        0        0 10,084

Schlumberger Ltd                 Com        806857108           304      4,054   SH     Sole        0        0        0  4,054

Schwab Charles Corp              Com        808513105           182     10,262   SH     Sole        0        0        0 10,262

Selective Ins Group Inc          Com        816300107           365     15,210   SH     Sole        0        0        0 15,210

Siemens AG ADR                   Com        826197501           435      4,032   SH     Sole        0        0        0  4,032

Sirona Dental Systems Inc        Com        82966C103           255      3,453   SH     Sole        0        0        0  3,453

Skyworks Solutions, Inc.         Com        83088M102           376     17,071   SH     Sole        0        0        0 17,071

A O Smith Corp                   Com        831865209           204      2,775   SH     Sole        0        0        0  2,775

Smucker J M Co New               Com        832696405           202      2,033   SH     Sole        0        0        0  2,033

Spectrum Brands Hldgs Inc        Com        84763R101           317      5,610   SH     Sole        0        0        0  5,610

Stanley Black & Decker Inc       Com        854502101           671      8,290   SH     Sole        0        0        0  8,290

Staples, Inc.                    Com        855030102           152     11,314   SH     Sole        0        0        0 11,314

Starbucks Corp                   Com        855244109           644     11,316   SH     Sole        0        0        0 11,316

State Street Corp.               Com        857477103           555      9,391   SH     Sole        0        0        0  9,391

Suez Environment Co. SA          Com        864691100           149     23,321   SH     Sole        0        0        0 23,321

Sumitomo Mitsui Finl Group ADR   Com        86562M209           349     42,777   SH     Sole        0        0        0 42,777

Suntrust Bks Inc                 Com        867914103           212      7,375   SH     Sole        0        0        0  7,375

Superior Energy Svcs Inc         Com        868157108           241      9,293   SH     Sole        0        0        0  9,293

Symantec Corp                    Com        871503108           528     21,376   SH     Sole        0        0        0 21,376

Symrise Ag                  Adr  Com        87155N109           234      5,901   SH     Sole        0        0        0  5,901

TJX Cos Inc New                  Com        872540109           219      4,674   SH     Sole        0        0        0  4,674

Taiwan Semiconductor MFG Co      Com        874039100           232     13,469   SH     Sole        0        0        0 13,469
Ltd Adr

Target Corp.                     Com        87612E106         1,086     15,871   SH     Sole        0        0        0 15,871

Terex Corp                       Com        880779103           316      9,182   SH     Sole        0        0        0  9,182

Thermo Fisher Scientific, Inc.   Com        883556102           419      5,482   SH     Sole        0        0        0  5,482

3M Company                       Com        88579Y101           840      7,906   SH     Sole        0        0        0  7,906

Torvec Inc                       Com        891479107             9     12,561   SH     Sole        0        0        0 12,561

Towers Watson & Co Cl A          Com        891894107           265      3,825   SH     Sole        0        0        0  3,825

Travelers Cos Inc.               Com        89417E109         1,048     12,443   SH     Sole        0        0        0 12,443

Triumph Group Inc New            Com        896818101           265      3,377   SH     Sole        0        0        0  3,377

Trustco Bank Corp NY             Com        898349105           107     19,121   SH     Sole        0        0        0 19,121

Tyson Foods, Inc Cl A            Com        902494103           333     13,433   SH     Sole        0        0        0 13,433

Unilever Nv New York Shs New     Com        904784709           492     11,989   SH     Sole        0        0        0 11,989

Union Pacific Corp               Com        907818108           457      3,207   SH     Sole        0        0        0  3,207

United Fire Group Inc Com        Com        910340108           327     12,846   SH     Sole        0        0        0 12,846

United Parcel Service Inc        Com        911312106           741      8,632   SH     Sole        0        0        0  8,632

United Rentals Inc               Com        911363109           352      6,407   SH     Sole        0        0        0  6,407

United Technologies Corp         Com        913017109           793      8,485   SH     Sole        0        0        0  8,485

V.F. Corp                        Com        918204108           209      1,247   SH     Sole        0        0        0  1,247

Valero Energy                    Com        91913Y100           563     12,376   SH     Sole        0        0        0 12,376

Varian Med Sys                   Com        92220P105           268      3,716   SH     Sole        0        0        0  3,716

Verizon Communications           Com        92343V104           544     11,072   SH     Sole        0        0        0 11,072

Vertex Pharmaceuticals Inc       Com        92532F100           258      4,686   SH     Sole        0        0        0  4,686

Viacom Inc. New Cl B             Com        92553P201           368      5,984   SH     Sole        0        0        0  5,984

Vodafone Group PLC New           Com        92857W209         1,231     43,344   SH     Sole        0        0        0 43,344

Webster Fncl Corp. Waterbury     Com        947890109           251     10,335   SH     Sole        0        0        0 10,335
Conn.

Wells Fargo & Company            Com        949746101           671     18,136   SH     Sole        0        0        0 18,136

Westpac Banking Corp             Com        961214301           346      2,146   SH     Sole        0        0        0  2,146

Whiting Pete Corp                Com        966387102           372      7,308   SH     Sole        0        0        0  7,308

XO Group Inc.                    Com        983772104           116     11,635   SH     Sole        0        0        0 11,635

Xerox Corp                       Com        984121103           204     23,745   SH     Sole        0        0        0 23,745

Global Digital Instruments LLC   Com        99582166             11     15,703   SH     Sole        0        0        0 15,703

Accenture PLC                    Com        G1151C101         1,335     17,568   SH     Sole        0        0        0 17,568

Delphi Automotive PLC            Com        G27823106           527     11,869   SH     Sole        0        0        0 11,869

Eaton Corp PLC                   Com        G29183103           786     12,831   SH     Sole        0        0        0 12,831

Invesco Ltd                      Com        G491BT108           249      8,602   SH     Sole        0        0        0  8,602

Partnerre Hldg Ltd               Com        G6852T105           265      2,847   SH     Sole        0        0        0  2,847

Validus Holdings Ltd             Com        G9319H102           566     15,141   SH     Sole        0        0        0 15,141
Com Shs

Willis Group Holdings PLC        Com        G96666105           225      5,690   SH     Sole        0        0        0  5,690

Ace Ltd                          Com        H0023R105           929     10,440   SH     Sole        0        0        0 10,440

Tyco Intl  Ltd                   Com        H89128104           423     13,223   SH     Sole        0        0        0 13,223

UBS AG Shs                       Com        H89231338           255     16,596   SH     Sole        0        0        0 16,596

CaeserStone Sdot-Yam Ltd         Com        M20598104           301     11,390   SH     Sole        0        0        0 11,390

Orbotech Ltd Ord                 Com        M75253100           145     14,379   SH     Sole        0        0        0 14,379

ASML Holding NV ADR              Com        N07059210           349      5,129   SH     Sole        0        0        0  5,129

NXP Semiconductors NV            Com        N6596X109           341     11,250   SH     Sole        0        0        0 11,250

SILCHESTER INTL INV              Com        SILCHES99         4,488     51,673   SH     Sole        0   51,673        0      0

Flextronics Intl Ltd             Com        Y2573F102           331     48,925   SH     Sole        0        0        0 48,925