-----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, JJEnZ+JCL9j0VvI0nB8KrOVucVo3BxFhSXy9+qaQZwcwGSEh+LL+lPlr47mOBoL7 RB8hNZ5meGC7HaqbciH66g== 0001278249-11-000002.txt : 20110210 0001278249-11-000002.hdr.sgml : 20110210 20110210120949 ACCESSION NUMBER: 0001278249-11-000002 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20101231 FILED AS OF DATE: 20110210 DATE AS OF CHANGE: 20110210 EFFECTIVENESS DATE: 20110210 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: 11590615 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 sec13f123110final.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: December 31, 2010 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 February 10, 2011 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: 195 Form 13f Information Table Value Total: $532,723,684 List of Other Included Managers: None TOWER BRIDGE ADVISORS DISCRETIONARY OWNERSHIP FOR 13F
AS OF DATE: 12/31/10 (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 7,589,547 87,944 X X 70,410 0 17,534 A T & T INC (NEW) COMMON 00206R102 7,831,170 266,548 X X 221,162 0 45,386 ABBOTT LABS COMMON 002824100 3,055,364 63,773 X X 44,838 0 18,935 ACCENTURE PLC COMMON G1151C101 3,033,728 62,564 X X 26,073 0 36,491 ADOBE SYS INC COMMON 00724F101 4,427,703 143,850 X X 86,600 0 57,250 AIR PRODS & CHEMS INC COMMON 009158106 5,503,203 60,508 X X 54,608 0 5,900 ALCOA INC COMMON 013817101 488,402 31,735 X X 30,960 0 775 ALLETE INC NEW COMMON 018522300 285,486 7,662 X X 7,562 0 100 ALTRIA GROUP INC COMMON 02209S103 489,716 19,891 X X 12,740 0 7,151 AMERICAN EXPRESS CO. COMMON 025816109 898,745 20,940 X X 11,090 0 9,850 AMGEN INC COMMON 031162100 1,149,881 20,945 X 17,250 0 3,695 APACHE CORP COMMON 037411105 1,474,279 12,365 X 8,460 0 3,905 APHTON CORP COMMON 03759P101 15 15,000 X 0 0 15,000 APPLE COMPUTER INC COMMON 037833100 3,278,822 10,165 X 8,775 0 1,390 AQUA AMERICA INC COMMON 03836W103 791,543 35,211 X 29,499 0 5,712 AUTOMATIC DATA PROCES COMMON 053015103 3,961,799 85,605 X X 63,130 0 22,475 AVON PRODUCTS INC COMMON 054303102 5,785,782 199,098 X X 118,898 0 80,200 BANK OF AMERICA CORP COMMON 060505104 766,196 57,436 X X 56,204 0 1,232 BARRICK GOLD CORP COMMON 067901108 223,037 4,194 X X 200 0 3,994 BAXTER INTERNATIONAL COMMON 071813109 906,199 17,902 X 17,902 0 0 BB&T CORP COMMON 054937107 304,454 11,581 X X 8,453 0 3,128 BECKMAN COULTER INC COMMON 075811109 349,820 4,650 X 4,650 0 0 BECTON DICKINSON & CO COMMON 075887109 9,264,909 109,618 X X 70,398 0 39,220 BERKSHIRE HATHAWAY IN COMMON 084670108 1,324,950 11 X 11 0 0 BERKSHIRE HATHAWAY IN COMMON 084670702 1,144,692 14,289 X 13,289 0 1,000 BLACKROCK MUN BD FD I MUTUAL 09253C504 100,276 13,947 X 13,947 0 0 BOARDWALK PIPELINE PA COMMON 096627104 4,152,586 133,395 X X 71,765 0 61,630 BOEING CO. COMMON 097023105 797,542 12,221 X X 4,861 0 7,360 BP PLC ADR COMMON 055622104 1,149,215 26,018 X 26,018 0 0 BRISTOL MYERS SQUIBB COMMON 110122108 910,912 34,400 X 34,400 0 0 BRYN MAWR BANK CORP COMMON 117665109 523,500 30,000 X 25,000 0 5,000 CAMPBELL SOUP CO COMMON 134429109 611,600 17,600 X 17,600 0 0 CARNIVAL CORP PAIRED COMMON 143658300 1,885,438 40,890 X X 30,565 0 10,325 CATERPILLAR INC COMMON 149123101 11,714,618 125,076 X X 86,881 0 38,195 CENOVUS ENERGY INC CO COMMON 15135U109 5,670,146 170,582 X X 101,857 0 68,725 CHESAPEAKE ENERGY COR COMMON 165167107 370,513 14,300 X 12,800 0 1,500 CHEVRON CORP COMMON 166764100 8,658,795 94,891 X X 76,587 0 18,304 CHUBB CORP COMMON 171232101 286,272 4,800 X X 2,100 0 2,700 CISCO SYSTEMS INC COMMON 17275R102 7,418,341 366,700 X X 234,726 0 131,974 CITIGROUP INC COMMON 172967101 320,160 67,687 X X 32,687 0 35,000 COCA COLA CO. COMMON 191216100 2,256,174 34,304 X X 24,904 0 9,400 COLGATE PALMOLIVE CO COMMON 194162103 6,959,706 86,596 X X 48,517 0 38,079 CONOCOPHILLIPS COMMON 20825C104 2,758,118 40,501 X 33,176 0 7,325 CONSOLIDATED EDISON I COMMON 209115104 323,296 6,522 X X 4,216 0 2,306 CORNING INC COMMON 219350105 796,911 41,248 X 40,848 0 400 CORPORATE OFFICE PPTY COMMON 22002T108 230,670 6,600 X 6,600 0 0 COSTCO WHOLESALE COMMON 22160K105 729,465 10,102 X X 6,350 0 3,752 CVS CORP COMMON 126650100 10,174,452 292,622 X X 184,537 0 108,085 D R HORTON INC COMMON 23331A109 3,493,617 292,843 X X 187,543 0 105,300 DANAHER CORP SHS BEN COMMON 235851102 263,114 5,578 X 3,642 0 1,936 DEERE & CO. COMMON 244199105 249,150 3,000 X 3,000 0 0 DENTSPLY INTL INC NEW COMMON 249030107 1,914,545 56,030 X X 18,195 0 37,835 DEVON ENERGY CORP NEW COMMON 25179M103 1,434,927 18,277 X X 14,527 0 3,750 DIAGEO PLC ADR SPONSO COMMON 25243Q205 7,538,887 101,425 X X 69,800 0 31,625 DIGITAL RLTY TR INC C COMMON 253868103 4,315,444 83,730 X X 48,380 0 35,350 DISNEY WALT COMPANY COMMON 254687106 1,210,748 32,278 X X 28,016 0 4,262 DODGE & COX INCOME FD MUTUAL 256210105 198,277 14,987 X 14,987 0 0 DOMINION RES INC VA N COMMON 25746U109 1,568,764 36,722 X X 30,822 0 5,900 DOW CHEMICAL CORP COMMON 260543103 250,758 7,345 X 4,504 0 2,841 DU PONT E I DE NEMOUR COMMON 263534109 2,785,798 55,850 X X 47,050 0 8,800 DUKE ENERGY CORP COMMON 26441C105 510,185 28,646 X X 24,950 0 3,696 E M C CORP MASS COMMON 268648102 6,042,715 263,874 X X 187,349 0 76,525 EATON VANCE NATL MUNS MUTUAL 27826L249 98,400 11,019 X 11,019 0 0 ECOLAB INC COMMON 278865100 378,150 7,500 X 7,500 0 0 EMERSON ELECTRIC CO COMMON 291011104 3,085,408 53,969 X X 41,900 0 12,069 ENTERPRISE PRODS PART COMMON 293792107 4,170,085 100,218 X X 43,368 0 56,850 EQT CORP COM COMMON 26884L109 420,240 9,372 X 2,500 0 6,872 EXELON CORP COMMON 30161N101 313,299 7,524 X X 1,550 0 5,974 EXXON MOBIL COMMON 30231G102 28,685,626 392,309 X X 294,321 0 97,988 FEDERATED GOVT INCOME MUTUAL 313912107 94,560 10,518 X 10,518 0 0 FEDEX CORP COMMON 31428X106 5,187,075 55,769 X X 37,179 0 18,590 FLUOR CORP NEW COM COMMON 343412102 8,314,371 125,481 X X 70,956 0 54,525 FRANKLIN RESOURCES IN COMMON 354613101 5,463,191 49,125 X 22,640 0 26,485 FULTON FINL CORP PA COMMON 360271100 326,382 31,565 X 31,565 0 0 GENERAL ELECTRIC CO COMMON 369604103 13,260,233 724,999 X X 532,703 0 192,296 GENERAL MILLS INC COMMON 370334104 1,213,619 34,100 X 29,200 0 4,900 GENESEE & WYO INC CL COMMON 371559105 406,021 7,668 X 0 0 7,668 GLAXOSMITHKLINE PLC A COMMON 37733W105 1,385,094 35,316 X X 28,960 0 6,356 GOLDMAN SACHS GROUP I COMMON 38141G104 3,989,428 23,724 X X 16,214 0 7,510 GOLDMAN SACHS GROUP I PREFERR 38143Y665 3,640,664 173,200 X X 136,100 0 37,100 GOLDMAN SACHS GROUP I PREFERR 38144G804 889,852 41,350 X 15,750 0 25,600 GOOGLE INC CL A COMMON 38259P508 9,252,271 15,577 X X 11,303 0 4,274 HALLIBURTON CO. COMMON 406216101 1,237,149 30,300 X X 29,300 0 1,000 HCP INC COMMON 40414L109 300,721 8,174 X X 3,088 0 5,086 HEINZ H J CO. COMMON 423074103 969,416 19,600 X X 7,200 0 12,400 HERSHEY FOODS CORP COMMON 427866108 760,718 16,134 X 9,600 0 6,534 HEWLETT PACKARD CO. COMMON 428236103 5,580,078 132,543 X X 95,750 0 36,793 HOME DEPOT INC COMMON 437076102 2,009,298 57,310 X X 49,610 0 7,700 HONEYWELL INTL INC COMMON 438516106 250,809 4,718 X 2,118 0 2,600 HUDSON CITY BANCORP C COMMON 443683107 5,256,256 412,579 X X 286,904 0 125,675 ILLINOIS TOOL WORKS I COMMON 452308109 1,852,339 34,688 X X 29,436 0 5,252 INGERSOLL-RAND PLC COMMON G47791101 500,378 10,626 X 10,626 0 0 INT'L BUSINESS MACH. COMMON 459200101 12,676,835 86,378 X X 64,260 0 22,118 INTEL CORP COMMON 458140100 2,072,822 98,565 X X 80,485 0 18,080 INTERCONTINENTALEXCHA COMMON 45865V100 2,667,173 22,385 X X 15,895 0 6,490 ITT CORP NEW COM COMMON 450911102 799,107 15,335 X 7,250 0 8,085 J P MORGAN CHASE & CO COMMON 46625H100 8,122,879 191,487 X X 144,214 0 47,273 JACKSON HEWITT TAX SV COMMON 468202106 21,700 10,000 X 0 0 10,000 JANUS OVERSEAS FD MUTUAL 471023846 257,295 5,081 X 5,081 0 0 JOHNSON & JOHNSON COMMON 478160104 19,388,848 313,482 X X 229,908 0 83,574 JPMORGAN CHASE & CO PREFERR 46625H621 1,600,655 58,100 X 32,200 0 25,900 KELLOGG CO. COMMON 487836108 6,461,640 126,500 X X 77,799 0 48,701 KIMBERLY CLARK CORP COMMON 494368103 1,851,359 29,368 X 29,368 0 0 KINDER MORGAN EGY PTN COMMON 494550106 4,558,820 64,885 X X 33,695 0 31,190 KOHLS CORP COMMON 500255104 302,946 5,575 X 4,750 0 825 KRAFT FOODS INC CL A COMMON 50075N104 1,055,743 33,505 X X 19,089 0 14,416 LINCOLN NATL CORP COMMON 534187109 327,769 11,786 X 11,565 0 221 LOWE'S COS INC COMMON 548661107 6,498,070 259,094 X X 159,944 0 99,150 LUBRIZOL CORP COM COMMON 549271104 374,080 3,500 X 0 0 3,500 L-3 COMMUNICATIONS HO COMMON 502424104 1,210,666 17,175 X X 4,550 0 12,625 MAGELLAN MIDSTREAM PA COMMON 559080106 1,356,000 24,000 X 7,900 0 16,100 MAIRS & POWER GROWTH MUTUAL 560636102 268,586 3,722 X 3,722 0 0 MARRIOTT INTL INC NEW COMMON 571903202 606,851 14,609 X X 8,081 0 6,528 MCDONALD'S CORP COMMON 580135101 7,637,643 99,500 X X 70,973 0 28,527 MEDCO HEALTH SOLUTION COMMON 58405U102 449,475 7,336 X X 3,123 0 4,213 MEDTRONIC INC COMMON 585055106 6,577,617 177,342 X X 131,657 0 45,685 MERCK & COMPANY COMMON 58933Y105 2,632,217 73,036 X X 46,729 0 26,307 MERITOR SVGS BK PA COMMON 590007100 51,480 22,000 X 0 0 22,000 METLIFE INC PFD A FLT PREFERR 59156R504 1,937,184 81,600 X X 36,900 0 44,700 MICROSOFT CORP COMMON 594918104 7,230,625 259,069 X X 178,187 0 80,882 MORGAN STANLEY PFD A PREFERR 61747S504 402,952 20,900 X 11,700 0 9,200 NESTLE S A REG ADR COMMON 641069406 224,733 3,826 X 3,826 0 0 NEXTERA ENERGY INC CO COMMON 65339F101 1,171,335 22,530 X X 18,380 0 4,150 NIKE INC CL B COMMON 654106103 1,687,472 19,755 X X 7,305 0 12,450 NOBLE CORPORATION COMMON H5833N103 495,057 13,840 X 13,310 0 530 NOBLE ENERGY COMMON 655044105 301,280 3,500 X 300 0 3,200 NOKIA CORP ADR COMMON 654902204 548,508 53,150 X X 26,650 0 26,500 NORFOLK SOUTHERN CORP COMMON 655844108 1,738,920 27,681 X X 25,331 0 2,350 NOVARTIS AG SPONSORED COMMON 66987V109 6,897,995 117,014 X X 83,544 0 33,470 NUCOR CORP COMMON 670346105 515,981 11,775 X X 6,925 0 4,850 OMNICOM GROUP COMMON 681919106 429,375 9,375 X 6,625 0 2,750 ONEOK INC NEW COM COMMON 682680103 221,880 4,000 X 1,000 0 3,000 OPPENHEIMER INTL BD F MUTUAL 68380T509 107,263 16,351 X 16,351 0 0 ORACLE SYS CORP COMMON 68389X105 10,402,023 332,333 X X 204,913 0 127,420 PENNSYLVANIA REIT COMMON 709102107 1,504,599 103,551 X X 89,645 0 13,906 PENTAIR INC COMMON 709631105 210,845 5,775 X 2,375 0 3,400 PEPSICO INC COMMON 713448108 6,817,231 104,351 X X 74,473 0 29,878 PETROHAWK ENERGY CORP COMMON 716495106 197,994 10,849 X 10,849 0 0 PETROLEO BRASILEIRO S COMMON 71654V101 5,183,657 151,702 X X 79,777 0 71,925 PFIZER INC COMMON 717081103 4,284,259 244,675 X X 199,402 0 45,273 PHILIP MORRIS INTL IN COMMON 718172109 2,986,259 51,021 X X 31,470 0 19,551 PIEDMONT NAT GAS INC COMMON 720186105 466,932 16,700 X 8,000 0 8,700 PNC FINANCIAL CORP COMMON 693475105 583,884 9,616 X 6,005 0 3,611 PPG INDUSTRIES INC COMMON 693506107 1,330,576 15,827 X X 15,090 0 737 PPL CORP COMMON 69351T106 442,334 16,806 X 14,306 0 2,500 PRAXAIR INC COMMON 74005P104 3,855,174 40,381 X X 27,726 0 12,655 PROCTER & GAMBLE CO COMMON 742718109 8,441,769 131,226 X X 111,500 0 19,726 PROGRESS ENERGY INC C COMMON 743263105 661,983 15,225 X X 7,125 0 8,100 PROTECTED BUY-WRITE 0 PREFERR 61747S850 247,125 25,000 X 25,000 0 0 PROTECTED BUY-WRITE 1 PREFERR 61750V840 147,675 15,000 X 15,000 0 0 PUBLIC SVC ENTERPRISE COMMON 744573106 222,670 7,000 X 7,000 0 0 QNB CORP COMMON 74726N107 401,722 20,496 X 18,424 0 2,072 QUALCOMM INC COMMON 747525103 9,946,208 200,974 X X 128,599 0 72,375 QUEST DIAGNOSTICS INC COMMON 74834L100 3,358,013 62,220 X X 32,770 0 29,450 RANGE RES CORP COM COMMON 75281A109 1,717,561 38,185 X 18,779 0 19,406 RAYMOND JAMES FINANCI COMMON 754730109 3,660,667 111,947 X X 63,047 0 48,900 RAYONIER INC COM COMMON 754907103 204,828 3,900 X 3,900 0 0 ROYAL DUTCH SHELL PLC COMMON 780259206 1,101,870 16,500 X X 15,000 0 1,500 SBM OFFSHORE NV COMMON N7752F148 820,449 36,479 X X 34,833 0 1,646 SCHLUMBERGER LTD COMMON 806857108 10,918,794 130,764 X X 95,039 0 35,725 SEALED AIR CORP NEW COMMON 81211K100 203,600 8,000 X 8,000 0 0 STAPLES INC COMMON 855030102 267,548 11,750 X 11,750 0 0 STATE STREET CORP COMMON 857477103 8,604,921 185,691 X X 129,866 0 55,825 SUNTRUST BKS INC COMMON 867914103 208,990 7,082 X X 2,250 0 4,832 SYSCO CORP COMMON 871829107 1,707,334 58,073 X X 39,298 0 18,775 TARGET CORP COMMON 87612E106 662,031 11,010 X X 5,510 0 5,500 TELEFONICA S A ADR COMMON 879382208 305,701 13,404 X X 0 0 13,404 TEMPLETON DRAGON MUTUAL 88018T101 215,145 7,000 X 7,000 0 0 TEVA PHARMACEUTICAL COMMON 881624209 10,667,219 204,627 X X 116,121 0 88,506 TEXAS INSTRUMENTS INC COMMON 882508104 963,235 29,638 X X 26,838 0 2,800 THERMO FISHER SCIENTI COMMON 883556102 1,174,130 21,209 X 21,209 0 0 TOLL BROTHERS INC COMMON 889478103 313,025 16,475 X X 6,175 0 10,300 TRACTOR SUPPLY CO COMMON 892356106 264,271 5,450 X 1,650 0 3,800 TRANSOCEAN LTD COMMON H8817H100 832,869 11,982 X 10,482 0 1,500 ULTRA PETROLEUM CORP COMMON 903914109 1,387,480 29,045 X 20,935 0 8,110 UNILEVER N V COMMON 904784709 340,627 10,848 X X 4,000 0 6,848 UNILEVER PLC SPON ADR COMMON 904767704 5,141,211 166,490 X X 103,065 0 63,425 UNION PACIFIC CORP COMMON 907818108 669,561 7,226 X X 1,862 0 5,364 UNITED TECHNOLOGIES C COMMON 913017109 7,477,397 94,987 X X 78,280 0 16,707 UNIVEST CORP PA COMMON 915271100 499,474 26,055 X 26,055 0 0 VANGUARD INDEX FDS LA MUTUAL 922908637 587,046 10,190 X 10,190 0 0 VANGUARD INDEX FDS SM MUTUAL 922908751 592,516 8,158 X X 7,158 0 1,000 VANGUARD INDEX TR MID MUTUAL 922908629 1,007,816 13,535 X X 12,235 0 1,300 VANGUARD INTERM-TERM MUTUAL 922907878 270,013 20,348 X 0 0 20,348 VANGUARD MUN BD FD IN MUTUAL 922907803 380,641 24,000 X 24,000 0 0 VANGUARD N J TAX-FREE MUTUAL 92204F305 165,187 14,605 X 14,605 0 0 VANGUARD SHORT-TERM T MUTUAL 922907100 248,161 15,647 X 15,647 0 0 VERIZON COMMUNICATION COMMON 92343V104 1,974,771 55,192 X X 45,595 0 9,597 VISA INC COM CL A COMMON 92826C839 5,842,366 83,012 X X 56,267 0 26,745 VODAFONE GROUP PLC NE COMMON 92857W209 321,722 12,168 X X 10,632 0 1,536 WAL MART STORES INC COMMON 931142103 678,439 12,580 X 11,180 0 1,400 WELLS FARGO & CO NEW COMMON 949746101 1,209,540 39,030 X X 28,830 0 10,200 WHIRLPOOL CORP COMMON 963320106 2,703,808 30,438 X X 15,428 0 15,010 WILLIS GROUP HOLDINGS COMMON G96666105 3,672,304 106,044 X X 62,289 0 43,755 YUM BRANDS INC COMMON 988498101 3,111,438 63,434 X X 35,879 0 27,555
TOWER BRIDGE ADVISORS DISCRETIONARY OWNERSHIP FOR 13F AS OF DATE: 12/31/10 (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 7,589,547 87,944 85,544 2,400 A T & T INC (NEW) COMMON 00206R102 7,831,170 266,548 249,536 17,012 ABBOTT LABS COMMON 002824100 3,055,364 63,773 49,993 13,780 ACCENTURE PLC COMMON G1151C101 3,033,728 62,564 57,364 5,200 ADOBE SYS INC COMMON 00724F101 4,427,703 143,850 143,150 700 AIR PRODS & CHEMS INC COMMON 009158106 5,503,203 60,508 59,108 1,400 ALCOA INC COMMON 013817101 488,402 31,735 31,210 525 ALLETE INC NEW COMMON 018522300 285,486 7,662 7,562 100 ALTRIA GROUP INC COMMON 02209S103 489,716 19,891 15,040 4,851 AMERICAN EXPRESS CO. COMMON 025816109 898,745 20,940 20,340 600 AMGEN INC COMMON 031162100 1,149,881 20,945 20,945 APACHE CORP COMMON 037411105 1,474,279 12,365 12,365 APHTON CORP COMMON 03759P101 15 15,000 15,000 APPLE COMPUTER INC COMMON 037833100 3,278,822 10,165 10,165 AQUA AMERICA INC COMMON 03836W103 791,543 35,211 35,211 AUTOMATIC DATA PROCES COMMON 053015103 3,961,799 85,605 77,255 8,350 AVON PRODUCTS INC COMMON 054303102 5,785,782 199,098 192,898 6,200 BANK OF AMERICA CORP COMMON 060505104 766,196 57,436 56,206 1,230 BARRICK GOLD CORP COMMON 067901108 223,037 4,194 4,167 27 BAXTER INTERNATIONAL COMMON 071813109 906,199 17,902 17,902 BB&T CORP COMMON 054937107 304,454 11,581 10,931 650 BECKMAN COULTER INC COMMON 075811109 349,820 4,650 4,650 BECTON DICKINSON & CO COMMON 075887109 9,264,909 109,618 106,118 3,500 BERKSHIRE HATHAWAY IN COMMON 084670108 1,324,950 11 11 BERKSHIRE HATHAWAY IN COMMON 084670702 1,144,692 14,289 14,289 BLACKROCK MUN BD FD I MUTUAL 09253C504 100,276 13,947 13,947 BOARDWALK PIPELINE PA COMMON 096627104 4,152,586 133,395 131,845 1,550 BOEING CO. COMMON 097023105 797,542 12,221 5,221 7,000 BP PLC ADR COMMON 055622104 1,149,215 26,018 26,018 BRISTOL MYERS SQUIBB COMMON 110122108 910,912 34,400 34,400 BRYN MAWR BANK CORP COMMON 117665109 523,500 30,000 30,000 CAMPBELL SOUP CO COMMON 134429109 611,600 17,600 17,600 CARNIVAL CORP PAIRED COMMON 143658300 1,885,438 40,890 38,990 1,900 CATERPILLAR INC COMMON 149123101 11,714,618 125,076 117,276 7,800 CENOVUS ENERGY INC CO COMMON 15135U109 5,670,146 170,582 169,882 700 CHESAPEAKE ENERGY COR COMMON 165167107 370,513 14,300 14,300 CHEVRON CORP COMMON 166764100 8,658,795 94,891 87,702 7,189 CHUBB CORP COMMON 171232101 286,272 4,800 2,740 2,060 CISCO SYSTEMS INC COMMON 17275R102 7,418,341 366,700 332,550 34,150 CITIGROUP INC COMMON 172967101 320,160 67,687 42,687 25,000 COCA COLA CO. COMMON 191216100 2,256,174 34,304 26,904 7,400 COLGATE PALMOLIVE CO COMMON 194162103 6,959,706 86,596 83,796 2,800 CONOCOPHILLIPS COMMON 20825C104 2,758,118 40,501 40,501 CONSOLIDATED EDISON I COMMON 209115104 323,296 6,522 4,216 2,306 CORNING INC COMMON 219350105 796,911 41,248 41,248 CORPORATE OFFICE PPTY COMMON 22002T108 230,670 6,600 6,600 COSTCO WHOLESALE COMMON 22160K105 729,465 10,102 8,900 1,202 CVS CORP COMMON 126650100 10,174,452 292,622 280,122 12,500 D R HORTON INC COMMON 23331A109 3,493,617 292,843 284,743 8,100 DANAHER CORP SHS BEN COMMON 235851102 263,114 5,578 5,578 DEERE & CO. COMMON 244199105 249,150 3,000 3,000 DENTSPLY INTL INC NEW COMMON 249030107 1,914,545 56,030 53,830 2,200 DEVON ENERGY CORP NEW COMMON 25179M103 1,434,927 18,277 17,877 400 DIAGEO PLC ADR SPONSO COMMON 25243Q205 7,538,887 101,425 96,925 4,500 DIGITAL RLTY TR INC C COMMON 253868103 4,315,444 83,730 80,430 3,300 DISNEY WALT COMPANY COMMON 254687106 1,210,748 32,278 30,678 1,600 DODGE & COX INCOME FD MUTUAL 256210105 198,277 14,987 14,987 DOMINION RES INC VA N COMMON 25746U109 1,568,764 36,722 30,822 5,900 DOW CHEMICAL CORP COMMON 260543103 250,758 7,345 7,345 DU PONT E I DE NEMOUR COMMON 263534109 2,785,798 55,850 50,750 5,100 DUKE ENERGY CORP COMMON 26441C105 510,185 28,646 25,950 2,696 E M C CORP MASS COMMON 268648102 6,042,715 263,874 254,174 9,700 EATON VANCE NATL MUNS MUTUAL 27826L249 98,400 11,019 11,019 ECOLAB INC COMMON 278865100 378,150 7,500 7,500 EMERSON ELECTRIC CO COMMON 291011104 3,085,408 53,969 49,669 4,300 ENTERPRISE PRODS PART COMMON 293792107 4,170,085 100,218 97,718 2,500 EQT CORP COM COMMON 26884L109 420,240 9,372 9,372 EXELON CORP COMMON 30161N101 313,299 7,524 6,424 1,100 EXXON MOBIL COMMON 30231G102 28,685,626 392,309 372,960 19,349 FEDERATED GOVT INCOME MUTUAL 313912107 94,560 10,518 10,518 FEDEX CORP COMMON 31428X106 5,187,075 55,769 53,269 2,500 FLUOR CORP NEW COM COMMON 343412102 8,314,371 125,481 122,981 2,500 FRANKLIN RESOURCES IN COMMON 354613101 5,463,191 49,125 49,125 FULTON FINL CORP PA COMMON 360271100 326,382 31,565 31,565 GENERAL ELECTRIC CO COMMON 369604103 13,260,233 724,999 674,792 50,207 GENERAL MILLS INC COMMON 370334104 1,213,619 34,100 34,100 GENESEE & WYO INC CL COMMON 371559105 406,021 7,668 7,668 GLAXOSMITHKLINE PLC A COMMON 37733W105 1,385,094 35,316 33,916 1,400 GOLDMAN SACHS GROUP I COMMON 38141G104 3,989,428 23,724 23,124 600 GOLDMAN SACHS GROUP I PREFERR 38143Y665 3,640,664 173,200 171,700 1,500 GOLDMAN SACHS GROUP I PREFERR 38144G804 889,852 41,350 41,350 GOOGLE INC CL A COMMON 38259P508 9,252,271 15,577 15,327 250 HALLIBURTON CO. COMMON 406216101 1,237,149 30,300 29,300 1,000 HCP INC COMMON 40414L109 300,721 8,174 6,574 1,600 HEINZ H J CO. COMMON 423074103 969,416 19,600 10,800 8,800 HERSHEY FOODS CORP COMMON 427866108 760,718 16,134 16,134 HEWLETT PACKARD CO. COMMON 428236103 5,580,078 132,543 117,518 15,025 HOME DEPOT INC COMMON 437076102 2,009,298 57,310 53,110 4,200 HONEYWELL INTL INC COMMON 438516106 250,809 4,718 4,718 HUDSON CITY BANCORP C COMMON 443683107 5,256,256 412,579 390,479 22,100 ILLINOIS TOOL WORKS I COMMON 452308109 1,852,339 34,688 32,888 1,800 INGERSOLL-RAND PLC COMMON G47791101 500,378 10,626 10,626 INT'L BUSINESS MACH. COMMON 459200101 12,676,835 86,378 83,206 3,172 INTEL CORP COMMON 458140100 2,072,822 98,565 85,685 12,880 INTERCONTINENTALEXCHA COMMON 45865V100 2,667,173 22,385 22,235 150 ITT CORP NEW COM COMMON 450911102 799,107 15,335 15,335 J P MORGAN CHASE & CO COMMON 46625H100 8,122,879 191,487 173,372 18,115 JACKSON HEWITT TAX SV COMMON 468202106 21,700 10,000 10,000 JANUS OVERSEAS FD MUTUAL 471023846 257,295 5,081 5,081 JOHNSON & JOHNSON COMMON 478160104 19,388,848 313,482 299,012 14,470 JPMORGAN CHASE & CO PREFERR 46625H621 1,600,655 58,100 58,100 KELLOGG CO. COMMON 487836108 6,461,640 126,500 124,350 2,150 KIMBERLY CLARK CORP COMMON 494368103 1,851,359 29,368 29,368 KINDER MORGAN EGY PTN COMMON 494550106 4,558,820 64,885 59,735 5,150 KOHLS CORP COMMON 500255104 302,946 5,575 5,575 KRAFT FOODS INC CL A COMMON 50075N104 1,055,743 33,505 21,603 11,902 LINCOLN NATL CORP COMMON 534187109 327,769 11,786 11,786 LOWE'S COS INC COMMON 548661107 6,498,070 259,094 248,194 10,900 LUBRIZOL CORP COM COMMON 549271104 374,080 3,500 3,500 L-3 COMMUNICATIONS HO COMMON 502424104 1,210,666 17,175 16,025 1,150 MAGELLAN MIDSTREAM PA COMMON 559080106 1,356,000 24,000 24,000 MAIRS & POWER GROWTH MUTUAL 560636102 268,586 3,722 3,722 MARRIOTT INTL INC NEW COMMON 571903202 606,851 14,609 10,648 3,961 MCDONALD'S CORP COMMON 580135101 7,637,643 99,500 98,188 1,312 MEDCO HEALTH SOLUTION COMMON 58405U102 449,475 7,336 5,171 2,165 MEDTRONIC INC COMMON 585055106 6,577,617 177,342 173,342 4,000 MERCK & COMPANY COMMON 58933Y105 2,632,217 73,036 53,036 20,000 MERITOR SVGS BK PA COMMON 590007100 51,480 22,000 22,000 METLIFE INC PFD A FLT PREFERR 59156R504 1,937,184 81,600 80,700 900 MICROSOFT CORP COMMON 594918104 7,230,625 259,069 251,769 7,300 MORGAN STANLEY PFD A PREFERR 61747S504 402,952 20,900 20,900 NESTLE S A REG ADR COMMON 641069406 224,733 3,826 3,826 NEXTERA ENERGY INC CO COMMON 65339F101 1,171,335 22,530 19,980 2,550 NIKE INC CL B COMMON 654106103 1,687,472 19,755 19,255 500 NOBLE CORPORATION COMMON H5833N103 495,057 13,840 13,840 NOBLE ENERGY COMMON 655044105 301,280 3,500 3,500 NOKIA CORP ADR COMMON 654902204 548,508 53,150 52,750 400 NORFOLK SOUTHERN CORP COMMON 655844108 1,738,920 27,681 26,331 1,350 NOVARTIS AG SPONSORED COMMON 66987V109 6,897,995 117,014 114,414 2,600 NUCOR CORP COMMON 670346105 515,981 11,775 11,275 500 OMNICOM GROUP COMMON 681919106 429,375 9,375 9,375 ONEOK INC NEW COM COMMON 682680103 221,880 4,000 4,000 OPPENHEIMER INTL BD F MUTUAL 68380T509 107,263 16,351 16,351 ORACLE SYS CORP COMMON 68389X105 10,402,023 332,333 305,633 26,700 PENNSYLVANIA REIT COMMON 709102107 1,504,599 103,551 103,351 200 PENTAIR INC COMMON 709631105 210,845 5,775 5,775 PEPSICO INC COMMON 713448108 6,817,231 104,351 92,351 12,000 PETROHAWK ENERGY CORP COMMON 716495106 197,994 10,849 10,849 PETROLEO BRASILEIRO S COMMON 71654V101 5,183,657 151,702 144,902 6,800 PFIZER INC COMMON 717081103 4,284,259 244,675 208,935 35,740 PHILIP MORRIS INTL IN COMMON 718172109 2,986,259 51,021 34,170 16,851 PIEDMONT NAT GAS INC COMMON 720186105 466,932 16,700 16,700 PNC FINANCIAL CORP COMMON 693475105 583,884 9,616 9,616 PPG INDUSTRIES INC COMMON 693506107 1,330,576 15,827 15,090 737 PPL CORP COMMON 69351T106 442,334 16,806 16,806 PRAXAIR INC COMMON 74005P104 3,855,174 40,381 39,181 1,200 PROCTER & GAMBLE CO COMMON 742718109 8,441,769 131,226 123,619 7,607 PROGRESS ENERGY INC C COMMON 743263105 661,983 15,225 7,125 8,100 PROTECTED BUY-WRITE 0 PREFERR 61747S850 247,125 25,000 25,000 PROTECTED BUY-WRITE 1 PREFERR 61750V840 147,675 15,000 15,000 PUBLIC SVC ENTERPRISE COMMON 744573106 222,670 7,000 7,000 QNB CORP COMMON 74726N107 401,722 20,496 20,496 QUALCOMM INC COMMON 747525103 9,946,208 200,974 198,824 2,150 QUEST DIAGNOSTICS INC COMMON 74834L100 3,358,013 62,220 59,220 3,000 RANGE RES CORP COM COMMON 75281A109 1,717,561 38,185 38,185 RAYMOND JAMES FINANCI COMMON 754730109 3,660,667 111,947 110,547 1,400 RAYONIER INC COM COMMON 754907103 204,828 3,900 3,900 ROYAL DUTCH SHELL PLC COMMON 780259206 1,101,870 16,500 15,300 1,200 SBM OFFSHORE NV COMMON N7752F148 820,449 36,479 35,553 926 SCHLUMBERGER LTD COMMON 806857108 10,918,794 130,764 126,964 3,800 SEALED AIR CORP NEW COMMON 81211K100 203,600 8,000 8,000 STAPLES INC COMMON 855030102 267,548 11,750 11,750 STATE STREET CORP COMMON 857477103 8,604,921 185,691 177,891 7,800 SUNTRUST BKS INC COMMON 867914103 208,990 7,082 5,322 1,760 SYSCO CORP COMMON 871829107 1,707,334 58,073 57,073 1,000 TARGET CORP COMMON 87612E106 662,031 11,010 9,410 1,600 TELEFONICA S A ADR COMMON 879382208 305,701 13,404 3,795 9,609 TEMPLETON DRAGON MUTUAL 88018T101 215,145 7,000 7,000 TEVA PHARMACEUTICAL COMMON 881624209 10,667,219 204,627 189,871 14,756 TEXAS INSTRUMENTS INC COMMON 882508104 963,235 29,638 26,838 2,800 THERMO FISHER SCIENTI COMMON 883556102 1,174,130 21,209 21,209 TOLL BROTHERS INC COMMON 889478103 313,025 16,475 12,475 4,000 TRACTOR SUPPLY CO COMMON 892356106 264,271 5,450 5,450 TRANSOCEAN LTD COMMON H8817H100 832,869 11,982 11,982 ULTRA PETROLEUM CORP COMMON 903914109 1,387,480 29,045 29,045 UNILEVER N V COMMON 904784709 340,627 10,848 9,777 1,071 UNILEVER PLC SPON ADR COMMON 904767704 5,141,211 166,490 157,540 8,950 UNION PACIFIC CORP COMMON 907818108 669,561 7,226 4,138 3,088 UNITED TECHNOLOGIES C COMMON 913017109 7,477,397 94,987 89,987 5,000 UNIVEST CORP PA COMMON 915271100 499,474 26,055 26,055 VANGUARD INDEX FDS LA MUTUAL 922908637 587,046 10,190 10,190 VANGUARD INDEX FDS SM MUTUAL 922908751 592,516 8,158 7,158 1,000 VANGUARD INDEX TR MID MUTUAL 922908629 1,007,816 13,535 12,335 1,200 VANGUARD INTERM-TERM MUTUAL 922907878 270,013 20,348 20,348 VANGUARD MUN BD FD IN MUTUAL 922907803 380,641 24,000 24,000 VANGUARD N J TAX-FREE MUTUAL 92204F305 165,187 14,605 14,605 VANGUARD SHORT-TERM T MUTUAL 922907100 248,161 15,647 15,647 VERIZON COMMUNICATION COMMON 92343V104 1,974,771 55,192 47,595 7,597 VISA INC COM CL A COMMON 92826C839 5,842,366 83,012 81,912 1,100 VODAFONE GROUP PLC NE COMMON 92857W209 321,722 12,168 11,932 236 WAL MART STORES INC COMMON 931142103 678,439 12,580 12,580 WELLS FARGO & CO NEW COMMON 949746101 1,209,540 39,030 29,330 9,700 WHIRLPOOL CORP COMMON 963320106 2,703,808 30,438 30,138 300 WILLIS GROUP HOLDINGS COMMON G96666105 3,672,304 106,044 103,394 2,650 YUM BRANDS INC COMMON 988498101 3,111,438 63,434 59,554 3,880
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