0001140361-11-026402.txt : 20110510 0001140361-11-026402.hdr.sgml : 20110510 20110510162746 ACCESSION NUMBER: 0001140361-11-026402 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20110331 FILED AS OF DATE: 20110510 DATE AS OF CHANGE: 20110510 EFFECTIVENESS DATE: 20110510 FILER: COMPANY DATA: COMPANY CONFORMED NAME: KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC CENTRAL INDEX KEY: 0001021223 IRS NUMBER: 954575414 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-05792 FILM NUMBER: 11828566 BUSINESS ADDRESS: STREET 1: 1800 AVE OF THE STAR 2ND FL CITY: LOS ANGELES STATE: CA ZIP: 90067 BUSINESS PHONE: 3105562721 MAIL ADDRESS: STREET 1: 1800 AVENUE OF THE STARS 2ND FLOOR CITY: LOS ANGELES STATE: CA ZIP: 90067 FORMER COMPANY: FORMER CONFORMED NAME: KAYNE ANDERSON INVESTMENT MANAGEMENT LLC DATE OF NAME CHANGE: 19990326 FORMER COMPANY: FORMER CONFORMED NAME: KAIM TRADITIONAL L L C DATE OF NAME CHANGE: 19980223 13F-HR 1 form13fhr.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: 3/31/2011 Check here if Amendment []; Amendment Number: ------- This Amendment (Check only one.): [] is a restatement. [] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Kayne Anderson Rudnick Investment Management, LLC Address: 1800 Avenue of the Stars Second Floor Los Angeles, CA 90067 Form 13F File Number: 028-05792 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Persons Signing this Report on Behalf of Reporting Manager: Name: Judith Ridder Title: Chief Compliance Officer Phone: 310-712-2909 Signature, Place, and Date of Signing: /s/ Judith Ridder Los Angeles, CA 5/10/2011 --------------------------------- --------------------------------- ---------- [Signature] [City, State] [Date] Report Type (Check only one): [X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [ ] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) [ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) List of Other Managers Reporting for this Manager: Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 234 Form 13F Information Table Value Total: $ 3,581,070 -------------- (In Thousands) List of Other Included Managers: Provide a numbered list of the name(s) and 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. NONE

FORM 13F INFORMATION TABLE COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 ------------------------------------- -------------- --------- -------- ------------------ ---------- -------- --------------------- VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ------------------------------------- -------------- --------- -------- --------- --- ---- ---------- -------- --------- ------ ---- AAON INC COM PAR $0.004 COMMON STOCKS 000360206 2,564 77,923 SH SOLE 77,923 0 0 ABM INDUSTRIES INC COMMON STOCKS 000957100 31,083 1,224,239 SH SOLE 1,224,239 0 0 AFLAC INC COMMON STOCKS 001055102 3,476 65,852 SH SOLE 65,852 0 0 AGL RESOURCES INC COMMON STOCKS 001204106 5,800 145,578 SH SOLE 145,578 0 0 AT&T INC COMMON STOCKS 00206R102 541 17,685 SH SOLE 17,685 0 0 AARONS INC CL A COMMON STOCKS 002535300 9,349 368,664 SH SOLE 368,664 0 0 ABAXIS INC COMMON STOCKS 002567105 55,068 1,909,417 SH SOLE 1,909,417 0 0 ABBOTT LABS COMMON STOCKS 002824100 431 8,788 SH SOLE 8,788 0 0 ADOBE SYS INC COMMON STOCKS 00724F101 1,597 48,174 SH SOLE 48,174 0 0 ADVISORY BOARD CO COMMON STOCKS 00762W107 41,772 811,108 SH SOLE 811,108 0 0 AGREE REALTY CORP COMMON STOCKS 008492100 267 11,900 SH SOLE 11,900 0 0 ALCATEL LUCENT SPON ADR COMMON STOCKS 013904305 118 20,252 SH SOLE 20,252 0 0 AMERICAN EXPRESS CO COMMON STOCKS 025816109 5,424 120,000 SH SOLE 120,000 0 0 ANSYS INC COMMON STOCKS 03662Q105 89,090 1,644,037 SH SOLE 1,644,037 0 0 APACHE CORP COMMON STOCKS 037411105 13,432 102,600 SH SOLE 102,600 0 0 APPLE INC COMMON STOCKS 037833100 270 776 SH SOLE 776 0 0 APTARGROUP INC COMMON STOCKS 038336103 25,778 514,222 SH SOLE 514,222 0 0 ARES CAPITAL CORPORATION COMMON STOCKS 04010L103 47,773 2,818,642 SH SOLE 2,818,642 0 0 AUTOMATIC DATA PROCESSING COMMON STOCKS 053015103 498 9,701 SH SOLE 9,701 0 0 AVON PRODUCTS INC COMMON STOCKS 054303102 5,226 193,253 SH SOLE 193,253 0 0 BP ADR COMMON STOCKS 055622104 464 10,521 SH SOLE 10,521 0 0 BALCHEM CORPORATION COMMON STOCKS 057665200 36,452 971,529 SH SOLE 971,529 0 0 BANK OF AMERICA CORPORATION COMMON STOCKS 060505104 205 15,385 SH SOLE 15,385 0 0 BANK OF NEW YORK MELLON CORPORATION COMMON STOCKS 064058100 5,796 194,054 SH SOLE 194,054 0 0 BARD C R INC COMMON STOCKS 067383109 6,276 63,165 SH SOLE 63,165 0 0 IPATH DJ UBS COMMODITY INDEX TOTAL ETF/ISHARE - 06738C778 2,475 48,207 SH SOLE 48,207 0 0 RET ETN EQUITY BARRICK GOLD CORPORATION COMMON STOCKS 067901108 4,127 79,508 SH SOLE 79,508 0 0 BECTON DICKINSON & CO COMMON STOCKS 075887109 6,980 87,666 SH SOLE 87,666 0 0 BED BATH & BEYOND INC COMMON STOCKS 075896100 6,192 128,284 SH SOLE 128,284 0 0 BERKSHIRE HATHAWAY INC CL A COMMON STOCKS 084670108 376 3 SH SOLE 3 0 0 BERKSHIRE HATHAWAY INC DEL CL B NEW COMMON STOCKS 084670702 355 4,250 SH SOLE 4,250 0 0 BIO-REFERENCE LABS INC COM COMMON STOCKS 09057G602 8,172 364,192 SH SOLE 364,192 0 0 BLACKBAUD INC COMMON STOCKS 09227Q100 71,285 2,616,918 SH SOLE 2,616,918 0 0 BRITISH AMERICAN TOBACCO PLC COMMON STOCKS 110448107 338 4,175 SH SOLE 4,175 0 0 SPONSORED ADR BRITISH SKY BROADCASTING GRP COMMON STOCKS 111013108 366 6,911 SH SOLE 6,911 0 0 SPONSORED ADR BROWN & BROWN INC COMMON STOCKS 115236101 80,248 3,110,404 SH SOLE 3,110,404 0 0 BROWN FORMAN CORP CL B COMMON STOCKS 115637209 712 10,421 SH SOLE 10,421 0 0 C H ROBINSON WORLDWIDE INC COMMON STOCKS 12541W209 449 6,052 SH SOLE 6,052 0 0 CNOOC LIMITED SPONSORED ADR COMMON STOCKS 126132109 618 2,442 SH SOLE 2,442 0 0 CRH PLC COMMON STOCKS 12626K203 692 29,786 SH SOLE 29,786 0 0 CABOT MICROELECTRONICS CORP COMMON STOCKS 12709P103 6,326 121,075 SH SOLE 121,075 0 0 CARBO CERAMICS INC COMMON STOCKS 140781105 94,916 672,593 SH SOLE 672,593 0 0 CASS INFORMATION SYSTEMS INC COMMON STOCKS 14808P109 23,964 609,936 SH SOLE 609,936 0 0 CATHAY GENERAL BANCORP COMMON STOCKS 149150104 300 17,600 SH SOLE 17,600 0 0 CHEROKEE INC COMMON STOCKS 16444H102 3,371 195,330 SH SOLE 195,330 0 0 CHEVRON CORPORATION COMMON STOCKS 166764100 307 2,854 SH SOLE 2,854 0 0 CHOICE HOTELS INTERNATIONAL INC COMMON STOCKS 169905106 12,446 320,348 SH SOLE 320,348 0 0 THE CHUBB CORPORATION COMMON STOCKS 171232101 348 5,684 SH SOLE 5,684 0 0 CHUNGHWA TELECOM COM LTD SPON ADR NEW COMMON STOCKS 17133Q502 451 14,462 SH SOLE 14,462 0 0 CHURCH & DWIGHT CO COMMON STOCKS 171340102 22,056 277,989 SH SOLE 277,989 0 0 CISCO SYSTEMS INC COMMON STOCKS 17275R102 5,573 324,937 SH SOLE 324,937 0 0 CITIGROUP INC COMMON STOCKS 172967101 102 23,186 SH SOLE 23,186 0 0 CLARCOR INC COMMON STOCKS 179895107 56,652 1,260,900 SH SOLE 1,260,900 0 0 COACH INC COMMON STOCKS 189754104 4,059 78,001 SH SOLE 78,001 0 0 COCA-COLA CO COMMON STOCKS 191216100 4,779 72,034 SH SOLE 72,034 0 0 COHEN & STEERS INC COMMON STOCKS 19247A100 73,584 2,479,232 SH SOLE 2,479,232 0 0 COMPUTER PROGRAMS AND SYSTEMS INC COMMON STOCKS 205306103 44,927 698,920 SH SOLE 698,920 0 0

FORM 13F INFORMATION TABLE COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 ------------------------------------- -------------- --------- -------- ------------------ ---------- -------- --------------------- VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ------------------------------------- -------------- --------- -------- --------- --- ---- ---------- -------- --------- ------ ---- CONOCOPHILLIPS COMMON STOCKS 20825C104 253 3,167 SH SOLE 3,167 0 0 COPART INC COMMON STOCKS 217204106 97,696 2,254,689 SH SOLE 2,254,689 0 0 COSTCO WHOLESALE CORP COMMON STOCKS 22160K105 2,597 35,425 SH SOLE 35,425 0 0 DENTSPLY INTERNATIONAL INC COMMON STOCKS 249030107 1,584 42,832 SH SOLE 42,832 0 0 DOLBY LABORATORIES INC CL A COMMON STOCKS 25659T107 8,075 164,092 SH SOLE 164,092 0 0 DONALDSON INC COMMON STOCKS 257651109 13,485 220,018 SH SOLE 220,018 0 0 DOVER CORP COMMON STOCKS 260003108 329 5,000 SH SOLE 5,000 0 0 DRESSER-RAND GROUP INC COMMON STOCKS 261608103 21,355 398,266 SH SOLE 398,266 0 0 EQT CORPORATION COMMON STOCKS 26884L109 2,094 41,961 SH SOLE 41,961 0 0 EATON VANCE CORP COMMON STOCKS 278265103 9,935 308,149 SH SOLE 308,149 0 0 EMERSON ELEC CO COMMON STOCKS 291011104 3,541 60,601 SH SOLE 60,601 0 0 ENTERTAINMENT PROPERTIES TRUST COMMON STOCKS 29380T105 33,074 706,411 SH SOLE 706,411 0 0 EQUIFAX INC COMMON STOCKS 294429105 13,278 341,767 SH SOLE 341,767 0 0 EXPEDITORS INTERNATIONAL OF COMMON STOCKS 302130109 685 13,663 SH SOLE 13,663 0 0 WASHINGTON INC EXPONENT INC COMMON STOCKS 30214U102 50,252 1,126,479 SH SOLE 1,126,479 0 0 EXXON MOBIL CORPORATION COMMON STOCKS 30231G102 16,712 198,641 SH SOLE 198,641 0 0 FLIR SYSTEMS INC COMMON STOCKS 302445101 12,168 351,589 SH SOLE 351,589 0 0 FACTSET RESEARCH SYSTEMS INC COMMON STOCKS 303075105 54,202 517,540 SH SOLE 517,540 0 0 FEDERATED INVESTORS INC CL B COMMON STOCKS 314211103 140,447 5,250,348 SH SOLE 5,250,348 0 0 FEDEX CORP COMMON STOCKS 31428X106 505 5,400 SH SOLE 5,400 0 0 FIRST CASH FINL SVCS INC COM COMMON STOCKS 31942D107 74,025 1,917,758 SH SOLE 1,917,758 0 0 FORWARD AIR CORP COMMON STOCKS 349853101 39,097 1,276,421 SH SOLE 1,276,421 0 0 FRANKLIN RESOURCES INC COMMON STOCKS 354613101 5,219 41,722 SH SOLE 41,722 0 0 GENERAL DYNAMICS CORP COMMON STOCKS 369550108 6,672 87,141 SH SOLE 87,141 0 0 GENERAL ELECTRIC COMPANY COMMON STOCKS 369604103 985 49,129 SH SOLE 49,129 0 0 GENUINE PARTS CO COMMON STOCKS 372460105 3,612 67,334 SH SOLE 67,334 0 0 GLAXOSMITHKLINE ADR COMMON STOCKS 37733W105 501 13,054 SH SOLE 13,054 0 0 GOOGLE INC CL A COMMON STOCKS 38259P508 205 350 SH SOLE 350 0 0 GRACO INC COMMON STOCKS 384109104 60,582 1,331,763 SH SOLE 1,331,763 0 0 HAEMONETICS CORP COMMON STOCKS 405024100 39,140 597,196 SH SOLE 597,196 0 0 HANG SENG BK LTD ADR SPONSORED COMMON STOCKS 41043C304 832 51,497 SH SOLE 51,497 0 0 HANSEN NATURAL CORP COMMON STOCKS 411310105 9,876 163,965 SH SOLE 163,965 0 0 HEARTLAND EXPRESS INC COMMON STOCKS 422347104 4,411 251,432 SH SOLE 251,432 0 0 HEICO CORPORATION CL A COMMON STOCKS 422806208 18,078 401,901 SH SOLE 401,901 0 0 HEINZ H J COMPANY COMMON STOCKS 423074103 4,765 97,598 SH SOLE 97,598 0 0 JACK HENRY & ASSOCIATES INC COMMON STOCKS 426281101 146,323 4,317,593 SH SOLE 4,317,593 0 0 HERSHEY FOODS CORP COMMON STOCKS 427866108 304 5,600 SH SOLE 5,600 0 0 HILLENBRAND INC COMMON STOCKS 431571108 38,396 1,785,841 SH SOLE 1,785,841 0 0 HITTITE MICROWAVE CORP COMMON STOCKS 43365Y104 80,293 1,259,110 SH SOLE 1,259,110 0 0 HOSPITALITY PROPERTIES TRUST COMMON STOCKS 44106M102 211 9,100 SH SOLE 9,100 0 0 ILLINOIS TOOL WORKS INC COMMON STOCKS 452308109 5,289 98,450 SH SOLE 98,450 0 0 IMMUCOR INC COMMON STOCKS 452526106 25,968 1,312,822 SH SOLE 1,312,822 0 0 INTERNATIONAL BUSINESS MACHINES CO COMMON STOCKS 459200101 409 2,507 SH SOLE 2,507 0 0 INTUIT INC COMMON STOCKS 461202103 2,476 46,623 SH SOLE 46,623 0 0 ISHARES MSCI BRIC INDEX FUND ETF/ISHARE - 464286657 599 11,902 SH SOLE 11,902 0 0 EQUITY ISHARES MSCI SINGAPORE INDEX FUND ETF/ISHARE - 464286673 1,178 86,140 SH SOLE 86,140 0 0 EQUITY ISHARES MSCI TAIWAN INDEX FUND ETF/ISHARE - 464286731 729 49,016 SH SOLE 49,016 0 0 EQUITY ISHARES MSCI MALAYSIA INDEX FUND ETF/ISHARE - 464286830 1,510 102,103 SH SOLE 102,103 0 0 EQUITY ISHARES BARCLAYS US TREAS INFLA PROT ETF/ISHARE - 464287176 1,466 13,429 SH SOLE 13,429 0 0 SEC FD FIXED ISHARES FTSE/XINHUA CHINA 25 INDEX ETF/ISHARE - 464287184 2,440 54,324 SH SOLE 54,324 0 0 FUND EQUITY ISHARES S&P 500 INDEX FUND ETF/ISHARE - 464287200 2,212 16,633 SH SOLE 16,633 0 0 EQUITY ISHARES BARCLAYS AGGREGATE BOND FUND ETF/ISHARE - 464287226 508 4,832 SH SOLE 4,832 0 0 FIXED

FORM 13F INFORMATION TABLE COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 ------------------------------------- -------------- --------- -------- ------------------ ---------- -------- --------------------- VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ------------------------------------- -------------- --------- -------- --------- --- ---- ---------- -------- --------- ------ ---- ISHARES MSCI EMERGING MARKETS INDEX ETF/ISHARE - 464287234 8,698 178,708 SH SOLE 178,708 0 0 FUND EQUITY ISHARES IBOXX INVESTMENT GRADE ETF/ISHARE - 464287242 930 8,594 SH SOLE 8,594 0 0 CORPORATE BD FIXED ISHARES MSCI EAFE INDEX FUND ETF/ISHARE - 464287465 3,155 52,515 SH SOLE 52,515 0 0 EQUITY ISHARES RUSSELL MIDCAP VALUE INDEX ETF/ISHARE - 464287473 270 5,610 SH SOLE 5,610 0 0 FUND EQUITY ISHARES RUSSELL MIDCAP INDEX FUND ETF/ISHARE - 464287499 4,582 42,042 SH SOLE 42,042 0 0 EQUITY ISHARES NASDAQ BIOTECHNOLOGY INDEX ETF/ISHARE - 464287556 501 5,000 SH SOLE 5,000 0 0 FUND EQUITY ISHARES COHEN & STEERS REALTY MAJ ETF/ISHARE - 464287564 1,831 26,115 SH SOLE 26,115 0 0 INDEX FD EQUITY ISHARES RUSSELL 1000 VALUE INDEX FUND ETF/ISHARE - 464287598 1,939 28,243 SH SOLE 28,243 0 0 EQUITY ISHARES RUSSELL 1000 GROWTH INDEX ETF/ISHARE - 464287614 5,143 85,054 SH SOLE 85,054 0 0 FUND EQUITY ISHARES RUSSELL 1000 INDEX FUND ETF/ISHARE - 464287622 2,896 39,201 SH SOLE 39,201 0 0 EQUITY ISHARES RUSSELL 2000 VALUE INDEX FUND ETF/ISHARE - 464287630 1,644 21,815 SH SOLE 21,815 0 0 EQUITY ISHARES RUSSELL 2000 INDEX FUND ETF/ISHARE - 464287655 3,043 36,149 SH SOLE 36,149 0 0 EQUITY ISHARES RUSSELL 3000 INDEX FUND ETF/ISHARE - 464287689 736 9,281 SH SOLE 9,281 0 0 EQUITY ISHARES DJ US HEALTHCARE SEC INDEX FD ETF/ISHARE - 464287762 765 11,070 SH SOLE 11,070 0 0 EQUITY ISHARES AGENCY BOND FUND ETF/ISHARE - 464288166 300 2,741 SH SOLE 2,741 0 0 FIXED ISHARES S&P CALIFORNIA MUNICIPAL ETF/ISHARE - 464288356 1,839 18,200 SH SOLE 18,200 0 0 BOND FUND FIXED ISHARES S&P NATL AMT-FREE MUNI BOND ETF/ISHARE - 464288414 563 5,660 SH SOLE 5,660 0 0 FUND FIXED ISHARES IBOXX HIGH YLD CORPORATE ETF/ISHARE - 464288513 1,104 12,000 SH SOLE 12,000 0 0 BOND FD FIXED ISHARES BARCLAYS INTERMEDIATE GOV ETF/ISHARE - 464288612 1,306 12,122 SH SOLE 12,122 0 0 CREDIT BD FIXED ISHARES BARCLAYS 1-3YR CREDIT BOND ETF/ISHARE - 464288646 2,463 23,579 SH SOLE 23,579 0 0 FUND FIXED ISHARES S&P GLOBAL UTILITIES ETF/ISHARE - 464288711 2,047 44,745 SH SOLE 44,745 0 0 EQUITY JPMORGAN CHASE & CO COMMON STOCKS 46625H100 7,804 169,286 SH SOLE 169,286 0 0 JPMORGAN ALERIAN MLP INDEX ETN ETF/ISHARE - 46625H365 2,615 68,876 SH SOLE 68,876 0 0 EQUITY JACOBS ENGINEERING GROUP INC COMMON STOCKS 469814107 1,019 19,810 SH SOLE 19,810 0 0 JOHNSON & JOHNSON COMMON STOCKS 478160104 12,245 206,666 SH SOLE 206,666 0 0 KAYNE ANDERSON MLP INVT CO - KYN ETF/ISHARE - 486606106 22,532 689,684 SH SOLE 689,684 0 0 EQUITY KAYNE ANDERSON ENERGY TOT RET FD - ETF/ISHARE - 48660P104 5,234 165,431 SH SOLE 165,431 0 0 KYE EQUITY KAYNE ANDERSON ENERGY DEV CO - KED ETF/ISHARE - 48660Q102 2,394 122,398 SH SOLE 122,398 0 0 EQUITY KIMBERLY CLARK CORPORATION COMMON STOCKS 494368103 5,731 87,811 SH SOLE 87,811 0 0 LABORATORY CORP OF AMERICA HOLDINGS COMMON STOCKS 50540R409 5,876 63,776 SH SOLE 63,776 0 0 LANDAUER INC COMMON STOCKS 51476K103 37,607 611,303 SH SOLE 611,303 0 0 LANDSTAR SYSTEM INC COMMON STOCKS 515098101 84,371 1,847,000 SH SOLE 1,847,000 0 0 LIFE PARTNERS HOLDINGS INC COM COMMON STOCKS 53215T106 5,630 700,201 SH SOLE 700,201 0 0 LINCOLN ELECTRIC HOLDINGS INC COMMON STOCKS 533900106 100,921 1,329,309 SH SOLE 1,329,309 0 0 LOOPNET INC COMMON STOCKS 543524300 11,592 819,217 SH SOLE 819,217 0 0

FORM 13F INFORMATION TABLE COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 ------------------------------------- -------------- --------- -------- ------------------ ---------- -------- --------------------- VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ------------------------------------- -------------- --------- -------- --------- --- ---- ---------- -------- --------- ------ ---- MAKITA CORP ADR COMMON STOCKS 560877300 1,164 24,828 SH SOLE 24,828 0 0 MATTEL INC COMMON STOCKS 577081102 4,992 200,246 SH SOLE 200,246 0 0 MATTHEWS INTERNATIONAL CORPORATION COMMON STOCKS 577128101 526 13,650 SH SOLE 13,650 0 0 CL A MCDONALDS CORP COMMON STOCKS 580135101 6,238 81,986 SH SOLE 81,986 0 0 MCGRATH RENTCORP COMMON STOCKS 580589109 6,813 249,817 SH SOLE 249,817 0 0 MEDTRONIC INC COMMON STOCKS 585055106 5,664 143,944 SH SOLE 143,944 0 0 MERCK & COMPANY COMMON STOCKS 58933Y105 319 9,649 SH SOLE 9,649 0 0 MERIDIAN BIOSCIENCE INC COMMON STOCKS 589584101 7,857 327,494 SH SOLE 327,494 0 0 MESA LABS INC COM COMMON STOCKS 59064R109 570 19,817 SH SOLE 19,817 0 0 METLIFE INC COMMON STOCKS 59156R108 10,777 240,931 SH SOLE 240,931 0 0 MICROSOFT CORP COMMON STOCKS 594918104 15,178 597,799 SH SOLE 597,799 0 0 MICROCHIP TECHNOLOGY INC COMMON STOCKS 595017104 20,757 546,093 SH SOLE 546,093 0 0 MITSUBISHI ELEC CORP ADR COMMON STOCKS 606776201 874 36,866 SH SOLE 36,866 0 0 MORNINGSTAR INC COMMON STOCKS 617700109 8,632 147,860 SH SOLE 147,860 0 0 NVR INC COMMON STOCKS 62944T105 462 611 SH SOLE 611 0 0 NATIONAL FINANCIAL PARTNERS COMMON STOCKS 63607P208 201 13,600 SH SOLE 13,600 0 0 CORPORATION NATIONAL GRID PLC SPON ADR COMMON STOCKS 636274300 333 6,923 SH SOLE 6,923 0 0 NATIONAL INSTRUMENTS CORPORATION COMMON STOCKS 636518102 18,925 577,496 SH SOLE 577,496 0 0 NATIONAL-OILWELL VARCO INC COMMON STOCKS 637071101 7,542 95,148 SH SOLE 95,148 0 0 NATIONAL RESEARCH CORP COMMON STOCKS 637372103 11,088 326,685 SH SOLE 326,685 0 0 NIKE INC CL B COMMON STOCKS 654106103 4,223 55,783 SH SOLE 55,783 0 0 NOVARTIS AG ADR COMMON STOCKS 66987V109 1,109 20,397 SH SOLE 20,397 0 0 NUCOR CORP COMMON STOCKS 670346105 5,432 118,035 SH SOLE 118,035 0 0 OMNICOM GROUP COMMON STOCKS 681919106 6,749 137,576 SH SOLE 137,576 0 0 OMEGA FLEX INC COMMON STOCKS 682095104 2,882 214,283 SH SOLE 214,283 0 0 ORACLE CORP COMMON STOCKS 68389X105 5,485 164,075 SH SOLE 164,075 0 0 OWENS & MINOR INC COMMON STOCKS 690732102 84,524 2,602,352 SH SOLE 2,602,352 0 0 PNC FINANCIAL CORP COMMON STOCKS 693475105 8,236 130,757 SH SOLE 130,757 0 0 PEPSICO INC COMMON STOCKS 713448108 6,378 99,020 SH SOLE 99,020 0 0 PLAINS ALL AMER PIPELINE L UNIT L P COMMON STOCKS 726503105 240 3,769 SH SOLE 3,769 0 0 INT POOL CORP COMMON STOCKS 73278L105 66,173 2,744,612 SH SOLE 2,744,612 0 0 PRAXAIR INC COMMON STOCKS 74005P104 4,908 48,306 SH SOLE 48,306 0 0 T ROWE PRICE GROUP INC COMMON STOCKS 74144T108 2,187 32,930 SH SOLE 32,930 0 0 PROCTER & GAMBLE COMPANY COMMON STOCKS 742718109 6,187 100,441 SH SOLE 100,441 0 0 QUALITY SYSTEMS INC COMMON STOCKS 747582104 8,810 105,717 SH SOLE 105,717 0 0 RLI CORP COMMON STOCKS 749607107 42,367 734,907 SH SOLE 734,907 0 0 RBC BEARINGS INC COMMON STOCKS 75524B104 34,740 908,720 SH SOLE 908,720 0 0 REALTY INCOME CORP COMMON STOCKS 756109104 1,441 41,222 SH SOLE 41,222 0 0 REED ELSEVIER N V SPONS ADR COMMON STOCKS 758204200 798 30,908 SH SOLE 30,908 0 0 RIO TINTO PLC SPONSORED ADR COMMON STOCKS 767204100 641 9,013 SH SOLE 9,013 0 0 ROCKWELL COLLINS INC COMMON STOCKS 774341101 5,061 78,061 SH SOLE 78,061 0 0 ROLLINS INC COMMON STOCKS 775711104 23,183 1,142,037 SH SOLE 1,142,037 0 0 ROSS STORES INC COMMON STOCKS 778296103 13,770 193,623 SH SOLE 193,623 0 0 ROYAL DUTCH SHELL PLC SPONSORED ADR B COMMON STOCKS 780259107 652 8,905 SH SOLE 8,905 0 0 ROYAL DUTCH SHELL PLC SPONSORED ADR A COMMON STOCKS 780259206 1,274 17,482 SH SOLE 17,482 0 0 SPDR GOLD TRUST ETF/ISHARE - 78463V107 6,099 43,605 SH SOLE 43,605 0 0 EQUITY SANOFI-AVENTIS SPON ADR COMMON STOCKS 80105N105 881 25,001 SH SOLE 25,001 0 0 SAP AG SPONSORED ADR COMMON STOCKS 803054204 1,438 23,429 SH SOLE 23,429 0 0 SCANSOURCE INC COMMON STOCKS 806037107 8,861 233,243 SH SOLE 233,243 0 0 SCHLUMBERGER LIMITED COMMON STOCKS 806857108 10,296 110,399 SH SOLE 110,399 0 0 THE CHARLES SCHWAB CORPORATION COMMON STOCKS 808513105 5,858 324,925 SH SOLE 324,925 0 0 SIGMA ALDRICH CORP COMMON STOCKS 826552101 6,983 109,731 SH SOLE 109,731 0 0 SILGAN HOLLDINGS INC COMMON STOCKS 827048109 8,004 209,860 SH SOLE 209,860 0 0 SIRONA DENTAL SYSTEMS INC COM COMMON STOCKS 82966C103 15,762 314,243 SH SOLE 314,243 0 0 STATE STREET CORP COMMON STOCKS 857477103 419 9,320 SH SOLE 9,320 0 0 STERICYCLE INC COMMON STOCKS 858912108 12,007 135,415 SH SOLE 135,415 0 0

FORM 13F INFORMATION TABLE COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 ------------------------------------- -------------- --------- -------- ------------------ ---------- -------- --------------------- VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ------------------------------------- -------------- --------- -------- --------- --- ---- ---------- -------- --------- ------ ---- SUFFOLK BANCORP COMMON STOCKS 864739107 15,941 759,839 SH SOLE 759,839 0 0 SYNGENTA AG ADR COMMON STOCKS 87160A100 254 3,905 SH SOLE 3,905 0 0 SYNTEL INC COMMON STOCKS 87162H103 57,483 1,100,582 SH SOLE 1,100,582 0 0 SYSCO CORP COMMON STOCKS 871829107 11,633 419,961 SH SOLE 419,961 0 0 THE TJX COMPANIES INC COMMON STOCKS 872540109 5,559 111,777 SH SOLE 111,777 0 0 TECHNE CORP COMMON STOCKS 878377100 84,863 1,185,399 SH SOLE 1,185,399 0 0 TELEFONICA ADR COMMON STOCKS 879382208 1,152 45,683 SH SOLE 45,683 0 0 TEMPUR-PEDIC INTERNATIONAL INC COMMON STOCKS 88023U101 147,169 2,905,039 SH SOLE 2,905,039 0 0 TEVA PHARMACEUTICAL INDS ADR COMMON STOCKS 881624209 975 19,427 SH SOLE 19,427 0 0 3M COMPANY COMMON STOCKS 88579Y101 13,289 142,130 SH SOLE 142,130 0 0 TOTAL SA SPONSORED ADR COMMON STOCKS 89151E109 1,644 26,957 SH SOLE 26,957 0 0 THE TRAVELERS COMPANIES INC COMMON STOCKS 89417E109 7,338 123,368 SH SOLE 123,368 0 0 UNILEVER N V ADR COMMON STOCKS 904784709 885 28,222 SH SOLE 28,222 0 0 UNION PACIFIC CORPORATION COMMON STOCKS 907818108 10,614 107,939 SH SOLE 107,939 0 0 VCA ANTECH INC COMMON STOCKS 918194101 13,255 526,600 SH SOLE 526,600 0 0 VF CORPORATION COMMON STOCKS 918204108 3,545 35,978 SH SOLE 35,978 0 0 VANGUARD EMERGING MARKETS ETF ETF/ISHARE - 922042858 8,887 181,559 SH SOLE 181,559 0 0 EQUITY VERSUS TECHNOLOGY INC COMMON STOCKS 925313108 8 100,000 SH SOLE 100,000 0 0 VISA INC CL A COMMON STOCKS 92826C839 5,583 75,841 SH SOLE 75,841 0 0 VODAFONE GROUP INC COMMON STOCKS 92857W209 782 27,185 SH SOLE 27,185 0 0 WD-40 COMPANY COMMON STOCKS 929236107 63,939 1,510,135 SH SOLE 1,510,135 0 0 WAL MART STORES INC COMMON STOCKS 931142103 1,120 21,526 SH SOLE 21,526 0 0 WALGREEN COMPANY COMMON STOCKS 931422109 775 19,319 SH SOLE 19,319 0 0 WATERS CORP COMMON STOCKS 941848103 6,890 79,285 SH SOLE 79,285 0 0 WEINGARTEN REALTY INVESTORS COMMON STOCKS 948741103 274 10,945 SH SOLE 10,945 0 0 WELLS FARGO & CO COMMON STOCKS 949746101 5,157 162,645 SH SOLE 162,645 0 0 WESTERN UNION COMPANY COMMON STOCKS 959802109 6,046 291,098 SH SOLE 291,098 0 0 JOHN WILEY & SONS COMMON STOCKS 968223206 62,468 1,228,725 SH SOLE 1,228,725 0 0 WORLD FUEL SERVICES CORPORATION COMMON STOCKS 981475106 94,845 2,335,499 SH SOLE 2,335,499 0 0 XILINX INC COMMON STOCKS 983919101 1,553 47,341 SH SOLE 47,341 0 0 YOUNG INNOVATIONS INC COMMON STOCKS 987520103 18,515 589,662 SH SOLE 589,662 0 0 ACCENTURE PLC CL A COMMON STOCKS G1151C101 5,352 97,361 SH SOLE 97,361 0 0 NOBLE CORPORATION COMMON STOCKS H5833N103 244 5,343 SH SOLE 5,343 0 0 STEINER LEISURE LIMITED COMMON STOCKS P8744Y102 41,863 904,954 SH SOLE 904,954 0 0