Portfolio Holdings as of 6/30/2009
| Ticker | Cusip | Description | Shares | Market Value |
| AA | 013817101 | Alcoa Inc. | 3,000.000 | $30,990.00 |
| BRKL | 11373M107 | Brookline Bancorp, Inc. | 4,000.000 | $37,280.00 |
| CAT | 149123101 | Caterpillar, Inc. | 1,500.000 | $49,560.00 |
| COP | 20825C104 | ConocoPhillips | 1,100.000 | $46,266.00 |
| CVX | 166764100 | Chevron Corportation | 1,000.000 | $66,250.00 |
| EM050112 | EM050112 | Empire Corporation 05/01/12 | 275,000.000 | $275,000.00 |
| FMPXX | 316175207 | Fidelity Money Market Inst. Fund 59 | 4,058.900 | $4,058.90 |
| GCI | 364730101 | Gannett Company, Inc. | 12,000.000 | $42,840.00 |
| GE | 369604103 | General Electric Company | 2,000.000 | $23,440.00 |
| HCBK | 443683107 | Hudson City Bancorp, Inc. | 5,000.000 | $66,450.00 |
| JNJ | 478160104 | Johnson & Johnson | 1,300.000 | $73,840.00 |
| LLY | 532457108 | Eli Lilly & Company | 2,000.000 | $69,280.00 |
| MRK | 589331107 | Merck & Co., Inc. | 2,000.000 | $55,920.00 |
| NUE | 670346105 | Nucor Corporation | 1,400.000 | $62,202.00 |
| OMI | 690732102 | Owens & Minor, Inc. | 1,000.000 | $43,820.00 |
| PAYX | 704326107 | Paychex, Inc. | 2,500.000 | $63,000.00 |
| RTN | 755111507 | Raytheon Company | 2,000.000 | $88,860.00 |
| SNA | 833034101 | Snap-On, Inc. | 2,000.000 | $57,480.00 |
| TRV | 89417E109 | Travelers Group, Inc. | 2,000.000 | $82,080.00 |
| WFC | 949746101 | Wells Fargo & Company | 3,100.000 | $75,206.00 |
| Totals | 327,958.900 | $1,313,822.90 | ||