-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, VyAgOdO51jZTKsSIxSQSDugQ0wRhZEGG/s1rfBEogx/sxbTxakPn1MEcZmJbfnj4 igOhKdLc1K858QvGtVpQHw== 0001278249-09-000006.txt : 20090729 0001278249-09-000006.hdr.sgml : 20090729 20090729140315 ACCESSION NUMBER: 0001278249-09-000006 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20090630 FILED AS OF DATE: 20090729 DATE AS OF CHANGE: 20090729 EFFECTIVENESS DATE: 20090729 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TOWER BRIDGE ADVISORS CENTRAL INDEX KEY: 0001278249 IRS NUMBER: 233096014 STATE OF INCORPORATION: PA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-10708 FILM NUMBER: 09969715 BUSINESS ADDRESS: STREET 1: 200 BARR HARBOR DRIVE CITY: CONSHOHOCKEN STATE: PA ZIP: 19428 BUSINESS PHONE: 6102602200 MAIL ADDRESS: STREET 1: 4 TOWER BRIDGE 200 BARR HARBOR DRIVE STREET 2: STE 222 CITY: CONSHOHOCKEN STATE: PA ZIP: 19428 13F-HR 1 sec13f063009final.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: June 30, 2009 Check here if Amendment [ ]; Amendment Number: This Amendment (Check only one): [ ] is a restatement [ ] adds new holdings entires. Institutional Investment Manager Filing this Report: Name: Tower Bridge Advisors Address: 200 Barr Harbor Drive Suite 222 West Conshohocken, PA 19428 13F File Number: 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 submission. Person Signing this Report on Behalf of Reporting Manager: Name: Jeffrey Kachel Title: Chief Financial Officer Phone: 610-260-2205 Signature, Place, and Date of Signing: Jeffrey Kachel, West Conshohocken, PA July 29, 2009 Report Type (Check only one): [X] 13F HOLDING REPORT [ ] 13F NOTICE [ ] 13F COMBINATION REPORT List of Other Managers Reporting for this Manager: None FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers 0 Form 13f Information Table Entry Total: 181 Form 13f Information Table Value Total: $416,210,953 List of Other Included Managers: None TOWER BRIDGE ADVISORS DISCRETIONARY OWNERSHIP FOR 13F
AS OF DATE: 06/30/09 (ITEM 1) (ITEM 2) (ITEM 3) (ITEM 4) (ITEM 5) (ITEM 6) (ITEM 7) (ITEM 8) INVESTMENT VOTING AUTHORITY DISCRETION (SHARES) ----------------- --------------------------------------- NAME TITLE FAIR SHARES OR SHARED OF OF CUSIP MARKET PRINCIPAL SOLE SHARED OTHER SOLE SHARED NONE ISSUER CLASS NUMBER VALUE AMOUNT (A) (B) (C) MGR (A) (B) (C) - ---------------------- ------ ---------- -------------- ------------ ----- ----- ----- -- ------------ ------------ ------------ 3M CO. COMMON 88579Y101 3,936,115 65,493 X X 53,089 0 12,404 A T & T INC (NEW) COMMON 00206R102 8,327,900 335,262 X X 249,714 0 85,548 ABBOTT LABS COMMON 002824100 2,890,044 61,438 X X 46,828 0 14,610 ACCENTURE LTD CL A COMMON G1150G111 6,233,899 186,309 X X 111,334 0 74,975 ADOBE SYS INC COMMON 00724F101 4,357,096 153,961 X X 103,386 0 50,575 AIM INVT SECS FDS INC MUTUAL 00142C805 66,282 19,157 X 19,157 0 0 AIR PRODS & CHEMS INC COMMON 009158106 4,052,247 62,738 X X 57,738 0 5,000 ALCOA INC COMMON 013817101 517,430 50,090 X X 48,040 0 2,050 ALLETE INC NEW COMMON 018522300 229,856 7,995 X X 7,895 0 100 ALTRIA GROUP INC COMMON 02209S103 1,076,397 65,674 X X 23,100 0 42,574 AMERICAN EXPRESS CO. COMMON 025816109 589,366 25,360 X X 15,310 0 10,050 AMERICAN INTL GROUP I COMMON 026874107 32,995 28,444 X 28,144 0 300 AMGEN INC COMMON 031162100 1,101,205 20,801 X 17,080 0 3,721 ANADARKO PETROLEUM COMMON 032511107 716,481 15,785 X 11,361 0 4,424 APACHE CORP COMMON 037411105 1,066,738 14,785 X 9,380 0 5,405 APHTON CORP COMMON 03759P101 23 15,000 X 0 0 15,000 APPLE COMPUTER INC COMMON 037833100 1,375,019 9,654 X 8,568 0 1,086 AQUA AMERICA INC COMMON 03836W103 520,085 29,055 X 23,343 0 5,712 AUTOMATIC DATA PROCES COMMON 053015103 5,232,102 147,633 X X 96,658 0 50,975 BANK OF AMERICA CORP COMMON 060505104 654,416 49,577 X X 39,911 0 9,666 BANK OF NEW YORK MELL COMMON 064058100 340,758 11,626 X 10,773 0 853 BARRICK GOLD CORP COMMON 067901108 368,849 10,994 X X 4,500 0 6,494 BAXTER INTERNATIONAL COMMON 071813109 1,102,468 20,817 X 20,317 0 500 BB&T CORP COMMON 054937107 1,349,968 61,418 X X 48,415 0 13,003 BECKMAN COULTER INC COMMON 075811109 511,403 8,950 X 8,950 0 0 BECTON DICKINSON & CO COMMON 075887109 352,985 4,950 X X 2,450 0 2,500 BERKSHIRE HATHAWAY IN COMMON 084670108 270,000 3 X 3 0 0 BERKSHIRE HATHAWAY (B COMMON 084670207 599,416 207 X 187 0 20 BEST BUY INC COMMON 086516101 1,441,979 43,057 X X 27,307 0 15,750 BLACKROCK INSD MUN TE MUTUAL 092474105 174,930 17,000 X 12,000 0 5,000 BOEING CO. COMMON 097023105 543,618 12,791 X X 5,691 0 7,100 BP PLC ADR COMMON 055622104 2,734,162 57,344 X X 52,706 0 4,638 BRIDGEWAY FD INC ULTR MUTUAL 108747403 125,962 11,996 X 11,996 0 0 BRISTOL MYERS SQUIBB COMMON 110122108 873,330 43,000 X X 39,000 0 4,000 BRYN MAWR BANK CORP COMMON 117665109 248,329 13,160 X 0 0 13,160 BURLINGTON NORTHN SAN COMMON 12189T104 1,749,002 23,783 X X 19,505 0 4,278 CAMPBELL SOUP CO COMMON 134429109 517,792 17,600 X 17,600 0 0 CARBO CERAMICS INC CO COMMON 140781105 281,808 8,240 X 8,240 0 0 CARNIVAL CORP PAIRED COMMON 143658300 2,407,330 93,416 X X 71,691 0 21,725 CATERPILLAR INC COMMON 149123101 1,837,850 55,625 X X 38,405 0 17,220 CHESAPEAKE ENERGY COR COMMON 165167107 876,783 44,215 X 35,640 0 8,575 CHEVRONTEXACO CORP COMMON 166764100 5,274,223 79,611 X X 59,243 0 20,368 CHUBB CORP COMMON 171232101 207,376 5,200 X X 2,100 0 3,100 CISCO SYSTEMS INC COMMON 17275R102 7,621,546 408,662 X X 251,610 0 157,052 CITIGROUP INC COMMON 172967101 100,086 33,699 X 33,699 0 0 COCA COLA CO. COMMON 191216100 2,319,021 48,323 X X 24,909 0 23,414 COLGATE PALMOLIVE CO COMMON 194162103 5,797,908 81,961 X X 43,317 0 38,644 CONOCOPHILLIPS COMMON 20825C104 2,086,891 49,617 X X 38,272 0 11,345 CONSOLIDATED EDISON I COMMON 209115104 200,085 5,347 X X 3,041 0 2,306 CORNING INC COMMON 219350105 683,321 42,548 X 42,148 0 400 COSTCO WHOLESALE COMMON 22160K105 5,204,293 113,680 X X 68,655 0 45,026 CVS CORP COMMON 126650100 7,961,144 249,801 X X 156,191 0 93,610 DENTSPLY INTL INC NEW COMMON 249030107 6,217,394 203,382 X X 102,022 0 101,360 DEVON ENERGY CORP NEW COMMON 25179M103 3,671,338 67,364 X X 46,789 0 20,575 DISNEY WALT COMPANY COMMON 254687106 844,966 36,218 X X 31,956 0 4,262 DOMINION RES INC VA N COMMON 25746U109 1,361,798 40,748 X X 33,348 0 7,400 DU PONT E I DE NEMOUR COMMON 263534109 1,736,088 67,763 X X 46,775 0 20,988 DUKE ENERGY CORP COMMON 26441C105 872,424 59,796 X X 45,300 0 14,496 E M C CORP MASS COMMON 268648102 3,898,560 297,600 X X 230,925 0 66,675 ECOLAB INC COMMON 278865100 455,208 11,675 X 7,675 0 4,000 EMERSON ELECTRIC CO COMMON 291011104 5,526,760 170,579 X X 108,813 0 61,766 ENTERGY CORP NEW COMMON 29364G103 519,694 6,704 X 3,258 0 3,446 ENTERPRISE PRODS PART COMMON 293792107 1,373,441 55,070 X X 27,540 0 27,530 EQT CORP COM COMMON 26884L109 295,758 8,472 X 0 0 8,472 EXELON CORP COMMON 30161N101 697,173 13,614 X X 8,940 0 4,674 EXXON MOBIL COMMON 30231G102 27,106,115 387,729 X X 286,460 0 101,269 FEDERATED GOVT INCOME MUTUAL 313912107 128,114 14,493 X 14,493 0 0 FEDEX CORP COMMON 31428X106 5,579,150 100,308 X X 68,731 0 31,577 FPL GROUP INC COMMON 302571104 1,640,980 28,860 X X 24,160 0 4,700 FRANKLIN INVS SECS TR MUTUAL 353612302 102,614 11,427 X 11,427 0 0 FRANKLIN RESOURCES IN COMMON 354613101 6,166,111 85,629 X X 48,366 0 37,263 FRANKLIN TAX FREE TR MUTUAL 354723801 305,404 31,037 X 31,037 0 0 GENERAL ELECTRIC CO COMMON 369604103 8,398,576 716,602 X X 511,695 0 204,907 GENERAL MILLS INC COMMON 370334104 955,141 17,050 X 14,600 0 2,450 GENESEE & WYO INC CL COMMON 371559105 203,279 7,668 X 0 0 7,668 GILEAD SCIENCES INC COMMON 375558103 501,891 10,715 X 7,445 0 3,270 GLAXOSMITHKLINE PLC A COMMON 37733W105 1,308,782 37,034 X X 28,560 0 8,474 GOLDMAN SACHS GROUP I PREFERR 38143Y665 2,135,356 131,975 X X 112,675 0 19,300 GOLDMAN SACHS GROUP I PREFERR 38144G804 296,925 18,500 X 5,500 0 13,000 GOOGLE INC CL A COMMON 38259P508 3,294,726 7,815 X X 6,100 0 1,715 HALLIBURTON CO. COMMON 406216101 580,946 28,065 X 26,965 0 1,100 HEINZ H J CO. COMMON 423074103 742,560 20,800 X X 7,200 0 13,600 HERSHEY FOODS CORP COMMON 427866108 670,824 18,634 X 12,100 0 6,534 HESS CORP COM COMMON 42809H107 238,381 4,435 X 4,435 0 0 HEWLETT PACKARD CO. COMMON 428236103 855,054 22,123 X X 18,345 0 3,778 HOME DEPOT INC COMMON 437076102 914,535 38,702 X X 35,512 0 3,190 HONEYWELL INTL INC COMMON 438516106 262,755 8,368 X 2,118 0 6,250 ILLINOIS TOOL WORKS I COMMON 452308109 6,560,675 175,701 X X 123,019 0 52,682 INGERSOLL-RAND COMPAN COMMON G4776G101 334,400 16,000 X 16,000 0 0 INT'L BUSINESS MACH. COMMON 459200101 6,466,313 61,926 X X 45,386 0 16,540 INTEL CORP COMMON 458140100 6,214,114 375,475 X X 260,493 0 114,982 ISHARES TR RUSSL 2000 MUTUAL 464287655 1,578,372 30,900 X X 14,200 0 16,700 ISHARES TR US TIPS BD MUTUAL 464287176 1,213,582 11,940 X 6,940 0 5,000 ITT CORP NEW COM COMMON 450911102 2,033,517 45,697 X X 27,687 0 18,010 J P MORGAN CHASE & CO COMMON 46625H100 4,211,596 123,471 X X 99,998 0 23,473 JANUS OVERSEAS FD MUTUAL 471023846 221,491 6,522 X 6,522 0 0 JOHNSON & JOHNSON COMMON 478160104 19,393,495 341,435 X X 248,823 0 92,612 KELLOGG CO. COMMON 487836108 5,759,505 123,674 X X 72,798 0 50,876 KIMBERLY CLARK CORP COMMON 494368103 1,944,786 37,093 X 37,093 0 0 KINDER MORGAN EGY PTN COMMON 494550106 2,308,579 45,160 X X 27,960 0 17,200 KOHLS CORP COMMON 500255104 956,531 22,375 X 21,775 0 600 KRAFT FOODS INC CL A COMMON 50075N104 1,328,019 52,408 X X 23,478 0 28,930 LINCOLN NATL CORP COMMON 534187109 981,194 57,013 X X 18,036 0 38,977 LOWE'S COS INC COMMON 548661107 5,218,335 268,848 X X 188,633 0 80,215 L-3 COMMUNICATIONS HO COMMON 502424104 4,771,124 68,768 X X 35,193 0 33,575 MAGELLAN MIDSTREAM PA COMMON 559080106 225,940 6,500 X 3,900 0 2,600 MARRIOTT INTL INC NEW COMMON 571903202 640,537 29,023 X 26,740 0 2,283 MCDONALD'S CORP COMMON 580135101 6,179,905 107,495 X X 77,780 0 29,715 MEDTRONIC INC COMMON 585055106 4,653,302 133,371 X 97,486 0 35,885 MERCK & CO. INC COMMON 589331107 1,210,137 43,281 X X 34,406 0 8,875 MERITOR SVGS BK PA COMMON 590007100 55,000 22,000 X 0 0 22,000 METLIFE INC COMMON 59156R108 369,123 12,300 X X 10,100 0 2,200 MICROSOFT CORP COMMON 594918104 7,537,007 317,081 X X 214,227 0 102,854 MONSANTO CO. NEW COMMON 61166W101 252,459 3,396 X X 1,864 0 1,532 MOTOROLA INC COMMON 620076109 79,560 12,000 X 9,600 0 2,400 NABORS INDUSTRIES COMMON G6359F103 354,835 22,775 X 22,775 0 0 NEWMONT MNG CORP COMMON 651639106 273,829 6,700 X 4,000 0 2,700 NIKE INC CL B COMMON 654106103 1,340,791 25,894 X X 14,294 0 11,600 NOBLE CORPORATION COMMON H5833N103 2,780,731 91,925 X X 62,295 0 29,630 NOBLE ENERGY COMMON 655044105 271,262 4,600 X 0 0 4,600 NOKIA CORP ADR COMMON 654902204 4,171,848 286,135 X X 180,965 0 105,170 NORDSTROM INC COMMON 655664100 1,589,211 79,900 X X 55,250 0 24,650 NORFOLK SOUTHERN CORP COMMON 655844108 1,383,657 36,731 X X 30,381 0 6,350 NOVARTIS AG SPONSORED COMMON 66987V109 2,512,963 61,607 X 39,992 0 21,615 NUCOR CORP COMMON 670346105 908,594 20,450 X X 8,000 0 12,450 OCCIDENTAL PETE CORP COMMON 674599105 272,388 4,139 X 4,139 0 0 OMNICOM GROUP COMMON 681919106 3,814,359 120,784 X X 85,259 0 35,525 OPTIONSXPRESS HLDGS I COMMON 684010101 555,974 35,800 X 0 0 35,800 ORACLE SYS CORP COMMON 68389X105 6,709,258 313,224 X X 183,424 0 129,800 PENNSYLVANIA REIT COMMON 709102107 675,338 135,068 X X 97,411 0 37,656 PEPSICO INC COMMON 713448108 6,492,903 118,139 X X 82,791 0 35,348 PETROLEO BRASIL SPONS COMMON 71654V408 240,758 5,875 X 5,675 0 200 PETROLEO BRASILEIRO S COMMON 71654V101 3,980,115 119,308 X X 66,608 0 52,700 PFIZER INC COMMON 717081103 3,806,010 253,734 X X 204,747 0 48,987 PHILIP MORRIS INTL IN COMMON 718172109 4,273,713 97,976 X X 49,702 0 48,274 PIEDMONT NAT GAS INC COMMON 720186105 414,692 17,200 X 8,000 0 9,200 PNC FINANCIAL CORP COMMON 693475105 204,917 5,280 X 1,600 0 3,680 PPG INDUSTRIES INC COMMON 693506107 800,165 18,227 X X 16,290 0 1,937 PPL CORP COMMON 69351T106 1,499,284 45,488 X X 21,552 0 23,936 PRAXAIR INC COMMON 74005P104 2,548,286 35,856 X X 24,456 0 11,400 PROCTER & GAMBLE CO COMMON 742718109 8,008,188 156,716 X X 130,920 0 25,796 PROGRESS ENERGY INC C COMMON 743263105 572,179 15,125 X X 7,125 0 8,000 PROTECTED BUY-WRITE 0 PREFERR 61747S850 229,875 25,000 X 25,000 0 0 PROTECTED BUY-WRITE 1 PREFERR 61750V840 135,975 15,000 X 15,000 0 0 PUBLIC SVC ENTERPRISE COMMON 744573106 281,271 8,620 X 7,000 0 1,620 RANGE RES CORP COM COMMON 75281A109 349,707 8,445 X 8,445 0 0 RAYMOND JAMES FINANCI COMMON 754730109 3,591,641 208,695 X X 153,445 0 55,250 RAYTHEON CO NEW COMMON 755111507 992,566 22,340 X 22,090 0 250 ROYAL DUTCH SHELL PLC COMMON 780259206 920,936 18,349 X X 15,849 0 2,500 SANDISK CORP COMMON 80004C101 692,003 47,075 X 40,325 0 6,750 SBM OFFSHORE NV COMMON N7752F148 746,584 44,108 X X 41,639 0 2,469 SCHERING PLOUGH CORP COMMON 806605101 376,448 14,986 X 11,720 0 3,266 SCHLUMBERGER LTD COMMON 806857108 9,057,202 167,385 X X 109,485 0 57,900 SEI INVTS CO. COMMON 784117103 3,698,336 205,008 X X 94,968 0 110,040 SMITH INTL INC COM COMMON 832110100 234,711 9,115 X 9,115 0 0 STAPLES INC COMMON 855030102 1,124,409 55,719 X X 33,354 0 22,365 STATE STREET CORP COMMON 857477103 2,304,115 48,816 X X 27,816 0 21,000 SUPERVALU INC COMMON 868536103 569,722 43,994 X X 1,755 0 42,239 SYSCO CORP COMMON 871829107 5,251,423 233,604 X X 158,154 0 75,450 TARGET CORP COMMON 87612E106 597,971 15,150 X X 7,150 0 8,000 TELEFONICA S A ADR COMMON 879382208 303,333 4,468 X X 0 0 4,468 TEVA PHARMACEUTICAL COMMON 881624209 8,427,948 170,814 X X 101,299 0 69,515 TEXAS INSTRUMENTS INC COMMON 882508104 1,127,686 52,943 X X 46,543 0 6,400 THERMO FISHER SCIENTI COMMON 883556102 1,440,323 35,328 X 35,328 0 0 TOYOTA MTR CORP ADR 1 COMMON 892331307 3,457,386 45,775 X X 32,205 0 13,570 TRANSOCEAN LTD COMMON H8817H100 8,691,777 116,998 X X 76,167 0 40,831 ULTRA PETROLEUM CORP COMMON 903914109 1,077,180 27,620 X 20,445 0 7,175 UNILEVER N V COMMON 904784709 336,876 13,932 X X 4,200 0 9,732 UNION PACIFIC CORP COMMON 907818108 499,568 9,596 X X 3,432 0 6,164 UNITED PARCEL SVC INC COMMON 911312106 577,035 11,543 X 11,525 0 18 UNITED TECHNOLOGIES C COMMON 913017109 2,190,595 42,159 X X 35,677 0 6,482 VANGUARD INDEX FDS LA MUTUAL 922908637 357,332 8,565 X 8,565 0 0 VANGUARD INTERM-TERM MUTUAL 922907878 302,111 23,150 X 0 0 23,150 VANGUARD INTL EQUITY MUTUAL 922042775 307,066 8,551 X X 4,900 0 3,651 VERIZON COMMUNICATION COMMON 92343V104 2,676,123 87,085 X X 53,599 0 33,486 VODAFONE GROUP PLC NE COMMON 92857W209 207,218 10,632 X 10,632 0 0 WAL MART STORES INC COMMON 931142103 674,769 13,930 X X 11,030 0 2,900 WELLS FARGO & CO NEW COMMON 949746101 1,658,972 68,383 X X 48,783 0 19,600 WHIRLPOOL CORP COMMON 963320106 1,885,323 44,298 X X 26,323 0 17,975 WILLIS GROUP HOLDINGS COMMON G96655108 4,639,989 180,334 X X 115,109 0 65,225 WYETH COMMON 983024100 2,063,475 45,461 X X 39,350 0 6,111
TOWER BRIDGE ADVISORS DISCRETIONARY OWNERSHIP FOR 13F AS OF DATE: 06/30/09 (ITEM 1) (ITEM 2) (ITEM 3) (ITEM 4) (ITEM 5) (ITEM 6) INVESTMENT DISCRETION --------------------------------------------- NAME TITLE FAIR SHARES OR SHARED OF OF CUSIP MARKET PRINCIPAL SOLE SHARED OTHER ISSUER CLASS NUMBER VALUE AMOUNT (A) (B) (C) - ---------------------- ------ ---------- -------------- ------------ ---------- ---------- ---------- 3M CO. COMMON 88579Y101 3,936,115 65,493 62,793 2,700 A T & T INC (NEW) COMMON 00206R102 8,327,900 335,262 308,818 26,444 ABBOTT LABS COMMON 002824100 2,890,044 61,438 47,358 14,080 ACCENTURE LTD CL A COMMON G1150G111 6,233,899 186,309 175,209 11,100 ADOBE SYS INC COMMON 00724F101 4,357,096 153,961 153,261 700 AIM INVT SECS FDS INC MUTUAL 00142C805 66,282 19,157 19,157 AIR PRODS & CHEMS INC COMMON 009158106 4,052,247 62,738 62,038 700 ALCOA INC COMMON 013817101 517,430 50,090 48,890 1,200 ALLETE INC NEW COMMON 018522300 229,856 7,995 7,895 100 ALTRIA GROUP INC COMMON 02209S103 1,076,397 65,674 25,400 40,274 AMERICAN EXPRESS CO. COMMON 025816109 589,366 25,360 24,760 600 AMERICAN INTL GROUP I COMMON 026874107 32,995 28,444 28,444 AMGEN INC COMMON 031162100 1,101,205 20,801 20,801 ANADARKO PETROLEUM COMMON 032511107 716,481 15,785 15,785 APACHE CORP COMMON 037411105 1,066,738 14,785 14,785 APHTON CORP COMMON 03759P101 23 15,000 15,000 APPLE COMPUTER INC COMMON 037833100 1,375,019 9,654 9,654 AQUA AMERICA INC COMMON 03836W103 520,085 29,055 29,055 AUTOMATIC DATA PROCES COMMON 053015103 5,232,102 147,633 141,083 6,550 BANK OF AMERICA CORP COMMON 060505104 654,416 49,577 46,379 3,198 BANK OF NEW YORK MELL COMMON 064058100 340,758 11,626 11,626 BARRICK GOLD CORP COMMON 067901108 368,849 10,994 10,967 27 BAXTER INTERNATIONAL COMMON 071813109 1,102,468 20,817 20,817 BB&T CORP COMMON 054937107 1,349,968 61,418 54,618 6,800 BECKMAN COULTER INC COMMON 075811109 511,403 8,950 8,950 BECTON DICKINSON & CO COMMON 075887109 352,985 4,950 3,950 1,000 BERKSHIRE HATHAWAY IN COMMON 084670108 270,000 3 3 BERKSHIRE HATHAWAY (B COMMON 084670207 599,416 207 207 BEST BUY INC COMMON 086516101 1,441,979 43,057 40,557 2,500 BLACKROCK INSD MUN TE MUTUAL 092474105 174,930 17,000 17,000 BOEING CO. COMMON 097023105 543,618 12,791 5,791 7,000 BP PLC ADR COMMON 055622104 2,734,162 57,344 55,088 2,256 BRIDGEWAY FD INC ULTR MUTUAL 108747403 125,962 11,996 11,996 BRISTOL MYERS SQUIBB COMMON 110122108 873,330 43,000 39,000 4,000 BRYN MAWR BANK CORP COMMON 117665109 248,329 13,160 13,160 BURLINGTON NORTHN SAN COMMON 12189T104 1,749,002 23,783 21,283 2,500 CAMPBELL SOUP CO COMMON 134429109 517,792 17,600 17,600 CARBO CERAMICS INC CO COMMON 140781105 281,808 8,240 8,240 CARNIVAL CORP PAIRED COMMON 143658300 2,407,330 93,416 91,516 1,900 CATERPILLAR INC COMMON 149123101 1,837,850 55,625 45,775 9,850 CHESAPEAKE ENERGY COR COMMON 165167107 876,783 44,215 44,215 CHEVRONTEXACO CORP COMMON 166764100 5,274,223 79,611 67,775 11,836 CHUBB CORP COMMON 171232101 207,376 5,200 2,800 2,400 CISCO SYSTEMS INC COMMON 17275R102 7,621,546 408,662 372,294 36,368 CITIGROUP INC COMMON 172967101 100,086 33,699 33,699 COCA COLA CO. COMMON 191216100 2,319,021 48,323 28,323 20,000 COLGATE PALMOLIVE CO COMMON 194162103 5,797,908 81,961 80,861 1,100 CONOCOPHILLIPS COMMON 20825C104 2,086,891 49,617 48,825 792 CONSOLIDATED EDISON I COMMON 209115104 200,085 5,347 3,041 2,306 CORNING INC COMMON 219350105 683,321 42,548 42,548 COSTCO WHOLESALE COMMON 22160K105 5,204,293 113,680 110,478 3,202 CVS CORP COMMON 126650100 7,961,144 249,801 244,301 5,500 DENTSPLY INTL INC NEW COMMON 249030107 6,217,394 203,382 199,382 4,000 DEVON ENERGY CORP NEW COMMON 25179M103 3,671,338 67,364 63,014 4,350 DISNEY WALT COMPANY COMMON 254687106 844,966 36,218 34,618 1,600 DOMINION RES INC VA N COMMON 25746U109 1,361,798 40,748 33,948 6,800 DU PONT E I DE NEMOUR COMMON 263534109 1,736,088 67,763 57,413 10,350 DUKE ENERGY CORP COMMON 26441C105 872,424 59,796 46,300 13,496 E M C CORP MASS COMMON 268648102 3,898,560 297,600 296,300 1,300 ECOLAB INC COMMON 278865100 455,208 11,675 11,675 EMERSON ELECTRIC CO COMMON 291011104 5,526,760 170,579 163,779 6,800 ENTERGY CORP NEW COMMON 29364G103 519,694 6,704 6,704 ENTERPRISE PRODS PART COMMON 293792107 1,373,441 55,070 52,870 2,200 EQT CORP COM COMMON 26884L109 295,758 8,472 8,472 EXELON CORP COMMON 30161N101 697,173 13,614 12,514 1,100 EXXON MOBIL COMMON 30231G102 27,106,115 387,729 358,344 29,385 FEDERATED GOVT INCOME MUTUAL 313912107 128,114 14,493 14,493 FEDEX CORP COMMON 31428X106 5,579,150 100,308 97,808 2,500 FPL GROUP INC COMMON 302571104 1,640,980 28,860 25,760 3,100 FRANKLIN INVS SECS TR MUTUAL 353612302 102,614 11,427 11,427 FRANKLIN RESOURCES IN COMMON 354613101 6,166,111 85,629 85,329 300 FRANKLIN TAX FREE TR MUTUAL 354723801 305,404 31,037 31,037 GENERAL ELECTRIC CO COMMON 369604103 8,398,576 716,602 668,051 48,551 GENERAL MILLS INC COMMON 370334104 955,141 17,050 17,050 GENESEE & WYO INC CL COMMON 371559105 203,279 7,668 7,668 GILEAD SCIENCES INC COMMON 375558103 501,891 10,715 10,715 GLAXOSMITHKLINE PLC A COMMON 37733W105 1,308,782 37,034 35,634 1,400 GOLDMAN SACHS GROUP I PREFERR 38143Y665 2,135,356 131,975 130,875 1,100 GOLDMAN SACHS GROUP I PREFERR 38144G804 296,925 18,500 18,500 GOOGLE INC CL A COMMON 38259P508 3,294,726 7,815 7,565 250 HALLIBURTON CO. COMMON 406216101 580,946 28,065 28,065 HEINZ H J CO. COMMON 423074103 742,560 20,800 10,800 10,000 HERSHEY FOODS CORP COMMON 427866108 670,824 18,634 18,634 HESS CORP COM COMMON 42809H107 238,381 4,435 4,435 HEWLETT PACKARD CO. COMMON 428236103 855,054 22,123 18,748 3,375 HOME DEPOT INC COMMON 437076102 914,535 38,702 37,502 1,200 HONEYWELL INTL INC COMMON 438516106 262,755 8,368 8,368 ILLINOIS TOOL WORKS I COMMON 452308109 6,560,675 175,701 170,675 5,026 INGERSOLL-RAND COMPAN COMMON G4776G101 334,400 16,000 16,000 INT'L BUSINESS MACH. COMMON 459200101 6,466,313 61,926 59,879 2,047 INTEL CORP COMMON 458140100 6,214,114 375,475 315,374 60,101 ISHARES TR RUSSL 2000 MUTUAL 464287655 1,578,372 30,900 30,200 700 ISHARES TR US TIPS BD MUTUAL 464287176 1,213,582 11,940 11,940 ITT CORP NEW COM COMMON 450911102 2,033,517 45,697 45,197 500 J P MORGAN CHASE & CO COMMON 46625H100 4,211,596 123,471 110,152 13,319 JANUS OVERSEAS FD MUTUAL 471023846 221,491 6,522 6,522 JOHNSON & JOHNSON COMMON 478160104 19,393,495 341,435 320,135 21,300 KELLOGG CO. COMMON 487836108 5,759,505 123,674 121,024 2,650 KIMBERLY CLARK CORP COMMON 494368103 1,944,786 37,093 37,093 KINDER MORGAN EGY PTN COMMON 494550106 2,308,579 45,160 41,510 3,650 KOHLS CORP COMMON 500255104 956,531 22,375 22,375 KRAFT FOODS INC CL A COMMON 50075N104 1,328,019 52,408 25,992 26,416 LINCOLN NATL CORP COMMON 534187109 981,194 57,013 19,057 37,956 LOWE'S COS INC COMMON 548661107 5,218,335 268,848 258,948 9,900 L-3 COMMUNICATIONS HO COMMON 502424104 4,771,124 68,768 67,218 1,550 MAGELLAN MIDSTREAM PA COMMON 559080106 225,940 6,500 6,500 MARRIOTT INTL INC NEW COMMON 571903202 640,537 29,023 29,023 MCDONALD'S CORP COMMON 580135101 6,179,905 107,495 106,095 1,400 MEDTRONIC INC COMMON 585055106 4,653,302 133,371 133,371 MERCK & CO. INC COMMON 589331107 1,210,137 43,281 35,681 7,600 MERITOR SVGS BK PA COMMON 590007100 55,000 22,000 22,000 METLIFE INC COMMON 59156R108 369,123 12,300 10,100 2,200 MICROSOFT CORP COMMON 594918104 7,537,007 317,081 310,081 7,000 MONSANTO CO. NEW COMMON 61166W101 252,459 3,396 2,544 852 MOTOROLA INC COMMON 620076109 79,560 12,000 12,000 NABORS INDUSTRIES COMMON G6359F103 354,835 22,775 22,775 NEWMONT MNG CORP COMMON 651639106 273,829 6,700 6,700 NIKE INC CL B COMMON 654106103 1,340,791 25,894 25,394 500 NOBLE CORPORATION COMMON H5833N103 2,780,731 91,925 81,825 10,100 NOBLE ENERGY COMMON 655044105 271,262 4,600 4,600 NOKIA CORP ADR COMMON 654902204 4,171,848 286,135 277,735 8,400 NORDSTROM INC COMMON 655664100 1,589,211 79,900 76,000 3,900 NORFOLK SOUTHERN CORP COMMON 655844108 1,383,657 36,731 35,381 1,350 NOVARTIS AG SPONSORED COMMON 66987V109 2,512,963 61,607 61,607 NUCOR CORP COMMON 670346105 908,594 20,450 18,750 1,700 OCCIDENTAL PETE CORP COMMON 674599105 272,388 4,139 4,139 OMNICOM GROUP COMMON 681919106 3,814,359 120,784 120,084 700 OPTIONSXPRESS HLDGS I COMMON 684010101 555,974 35,800 35,800 ORACLE SYS CORP COMMON 68389X105 6,709,258 313,224 284,424 28,800 PENNSYLVANIA REIT COMMON 709102107 675,338 135,068 134,468 600 PEPSICO INC COMMON 713448108 6,492,903 118,139 101,889 16,250 PETROLEO BRASIL SPONS COMMON 71654V408 240,758 5,875 5,875 PETROLEO BRASILEIRO S COMMON 71654V101 3,980,115 119,308 115,508 3,800 PFIZER INC COMMON 717081103 3,806,010 253,734 214,991 38,743 PHILIP MORRIS INTL IN COMMON 718172109 4,273,713 97,976 55,902 42,074 PIEDMONT NAT GAS INC COMMON 720186105 414,692 17,200 17,200 PNC FINANCIAL CORP COMMON 693475105 204,917 5,280 5,280 PPG INDUSTRIES INC COMMON 693506107 800,165 18,227 17,490 737 PPL CORP COMMON 69351T106 1,499,284 45,488 37,488 8,000 PRAXAIR INC COMMON 74005P104 2,548,286 35,856 35,456 400 PROCTER & GAMBLE CO COMMON 742718109 8,008,188 156,716 147,584 9,132 PROGRESS ENERGY INC C COMMON 743263105 572,179 15,125 7,125 8,000 PROTECTED BUY-WRITE 0 PREFERR 61747S850 229,875 25,000 25,000 PROTECTED BUY-WRITE 1 PREFERR 61750V840 135,975 15,000 15,000 PUBLIC SVC ENTERPRISE COMMON 744573106 281,271 8,620 8,620 RANGE RES CORP COM COMMON 75281A109 349,707 8,445 8,445 RAYMOND JAMES FINANCI COMMON 754730109 3,591,641 208,695 207,295 1,400 RAYTHEON CO NEW COMMON 755111507 992,566 22,340 22,340 ROYAL DUTCH SHELL PLC COMMON 780259206 920,936 18,349 16,149 2,200 SANDISK CORP COMMON 80004C101 692,003 47,075 47,075 SBM OFFSHORE NV COMMON N7752F148 746,584 44,108 43,182 926 SCHERING PLOUGH CORP COMMON 806605101 376,448 14,986 14,986 SCHLUMBERGER LTD COMMON 806857108 9,057,202 167,385 155,335 12,050 SEI INVTS CO. COMMON 784117103 3,698,336 205,008 203,208 1,800 SMITH INTL INC COM COMMON 832110100 234,711 9,115 9,115 STAPLES INC COMMON 855030102 1,124,409 55,719 54,119 1,600 STATE STREET CORP COMMON 857477103 2,304,115 48,816 46,716 2,100 SUPERVALU INC COMMON 868536103 569,722 43,994 1,755 42,239 SYSCO CORP COMMON 871829107 5,251,423 233,604 228,954 4,650 TARGET CORP COMMON 87612E106 597,971 15,150 12,650 2,500 TELEFONICA S A ADR COMMON 879382208 303,333 4,468 1,265 3,203 TEVA PHARMACEUTICAL COMMON 881624209 8,427,948 170,814 169,814 1,000 TEXAS INSTRUMENTS INC COMMON 882508104 1,127,686 52,943 47,643 5,300 THERMO FISHER SCIENTI COMMON 883556102 1,440,323 35,328 35,328 TOYOTA MTR CORP ADR 1 COMMON 892331307 3,457,386 45,775 44,975 800 TRANSOCEAN LTD COMMON H8817H100 8,691,777 116,998 111,623 5,375 ULTRA PETROLEUM CORP COMMON 903914109 1,077,180 27,620 27,620 UNILEVER N V COMMON 904784709 336,876 13,932 12,861 1,071 UNION PACIFIC CORP COMMON 907818108 499,568 9,596 6,508 3,088 UNITED PARCEL SVC INC COMMON 911312106 577,035 11,543 11,543 UNITED TECHNOLOGIES C COMMON 913017109 2,190,595 42,159 37,159 5,000 VANGUARD INDEX FDS LA MUTUAL 922908637 357,332 8,565 8,565 VANGUARD INTERM-TERM MUTUAL 922907878 302,111 23,150 23,150 VANGUARD INTL EQUITY MUTUAL 922042775 307,066 8,551 6,251 2,300 VERIZON COMMUNICATION COMMON 92343V104 2,676,123 87,085 65,876 21,209 VODAFONE GROUP PLC NE COMMON 92857W209 207,218 10,632 10,632 WAL MART STORES INC COMMON 931142103 674,769 13,930 12,430 1,500 WELLS FARGO & CO NEW COMMON 949746101 1,658,972 68,383 49,283 19,100 WHIRLPOOL CORP COMMON 963320106 1,885,323 44,298 44,148 150 WILLIS GROUP HOLDINGS COMMON G96655108 4,639,989 180,334 177,434 2,900 WYETH COMMON 983024100 2,063,475 45,461 42,261 3,200
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