-----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, Ljy3Awe8xpaHH7Z3kdzoYvqhJb1jLwZG4N2Vw7GTuhvRaeJZX5M5YwgUjho275wZ P415/29j5q0KVVkEnQN8kQ== 0001278249-08-000005.txt : 20080506 0001278249-08-000005.hdr.sgml : 20080506 20080506110013 ACCESSION NUMBER: 0001278249-08-000005 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20080331 FILED AS OF DATE: 20080506 DATE AS OF CHANGE: 20080506 EFFECTIVENESS DATE: 20080506 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: 08805134 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 sec13f033108final.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: March 31, 2008 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 May 6, 2008 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: 251 Form 13f Information Table Value Total: $606,207,082 List of Other Included Managers: None TOWER BRIDGE ADVISORS DISCRETIONARY OWNERSHIP FOR 13F
AS OF DATE: 03/31/08 (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 5,199,029 65,686 X X 55,586 0 10,100 A T & T INC (NEW) COMMON 00206R102 8,795,470 229,647 X X 161,282 0 68,364 ABBOTT LABS COMMON 002824100 3,483,495 63,164 X X 56,704 0 6,460 ACCENTURE LTD CL A COMMON G1150G111 7,244,106 205,974 X X 124,599 0 81,375 AETNA U S HEALTHCARE COMMON 00817Y108 202,032 4,800 X 4,800 0 0 AFLAC INC COMMON 001055102 454,585 6,999 X 6,999 0 0 AIM INVT SECS FDS INC MUTUAL 00142C805 68,327 16,913 X 16,913 0 0 AIR PRODS & CHEMS INC COMMON 009158106 6,272,652 68,181 X 63,881 0 4,300 ALCOA INC COMMON 013817101 1,938,586 53,760 X X 51,410 0 2,350 ALLETE INC NEW COMMON 018522300 477,961 12,376 X X 12,276 0 100 ALLIANCEBERNSTEIN HOL COMMON 01881G106 361,266 5,700 X 5,700 0 0 ALLSTATE CORP COMMON 020002101 226,170 4,706 X X 1,756 0 2,950 ALTRIA GROUP INC COMMON 02209S103 2,095,036 94,371 X X 52,912 0 41,459 AMDOCS LTD ORD COMMON G02602103 5,792,927 204,264 X X 123,414 0 80,850 AMERICAN EXPRESS CO. COMMON 025816109 1,476,512 33,772 X X 22,815 0 10,957 AMERICAN INTL GROUP I COMMON 026874107 9,655,725 223,254 X X 142,106 0 81,148 AMGEN INC COMMON 031162100 988,139 23,651 X X 19,230 0 4,421 ANADARKO PETROLEUM COMMON 032511107 843,972 13,390 X 5,350 0 8,040 ANHEUSER BUSCH COS IN COMMON 035229103 403,515 8,504 X 7,530 0 974 APACHE CORP COMMON 037411105 4,060,639 33,609 X X 19,344 0 14,265 APHTON CORP COMMON 03759P101 6 15,000 X 0 0 15,000 APPLE COMPUTER INC COMMON 037833100 697,554 4,861 X 4,650 0 211 AQUA AMERICA INC COMMON 03836W103 597,429 31,812 X 26,237 0 5,575 AUTOMATIC DATA PROCES COMMON 053015103 5,638,209 133,008 X X 83,308 0 49,700 BANK OF AMERICA CORP COMMON 060505104 10,123,180 267,032 X X 187,804 0 79,228 BANK OF NEW YORK MELL COMMON 064058100 312,391 7,486 X 7,133 0 353 BAXTER INTERNATIONAL COMMON 071813109 1,118,817 19,350 X 18,850 0 500 BECKMAN COULTER INC COMMON 075811109 879,817 13,630 X 13,630 0 0 BECTON DICKINSON & CO COMMON 075887109 673,923 7,850 X 6,250 0 1,600 BED BATH & BEYOND INC COMMON 075896100 336,300 11,400 X 4,300 0 7,100 BERKSHIRE HATHAWAY IN COMMON 084670108 400,200 3 X 3 0 0 BERKSHIRE HATHAWAY (B COMMON 084670207 751,447 168 X 148 0 20 BEST BUY INC COMMON 086516101 766,803 18,495 X 12,570 0 5,925 BJ SERVICES COMMON 055482103 647,605 22,715 X 22,365 0 350 BLACKROCK INSD MUN TE MUTUAL 092474105 170,850 17,000 X 12,000 0 5,000 BLACKROCK WORLD INVT COMMON 09250K103 150,796 10,175 X 5,175 0 5,000 BOEING CO. COMMON 097023105 836,284 11,245 X X 2,893 0 8,352 BP PLC ADR COMMON 055622104 4,506,295 74,300 X X 64,276 0 10,024 BRIDGEWAY FD INC SMCA MUTUAL 108747825 950,913 61,548 X 61,548 0 0 BRIDGEWAY FD INC ULTR MUTUAL 108747403 167,393 10,737 X 10,737 0 0 BRISTOL MYERS SQUIBB COMMON 110122108 1,095,353 51,425 X X 45,025 0 6,400 BRYN MAWR BANK CORP COMMON 117665109 286,623 13,160 X 0 0 13,160 BURLINGTON NORTHN SAN COMMON 12189T104 3,641,122 39,483 X X 34,430 0 5,053 CALIPER LIFE SCIENCES COMMON 130872104 37,500 10,000 X 10,000 0 0 CAMPBELL SOUP CO COMMON 134429109 597,520 17,600 X 17,600 0 0 CARNIVAL CORP PAIRED COMMON 143658300 273,240 6,750 X X 5,350 0 1,400 CATERPILLAR INC COMMON 149123101 2,459,089 31,410 X 26,260 0 5,150 CHEVRONTEXACO CORP COMMON 166764100 6,683,851 78,302 X X 66,648 0 11,654 CHUBB CORP COMMON 171232101 257,296 5,200 X X 2,100 0 3,100 CIGNA CORP COMMON 125509109 412,475 10,167 X 450 0 9,717 CISCO SYSTEMS INC COMMON 17275R102 10,183,469 422,726 X X 253,961 0 168,765 CITIGROUP INC COMMON 172967101 1,097,861 51,254 X X 48,925 0 2,329 CLOROX CO COMMON 189054109 392,572 6,931 X 6,931 0 0 COCA COLA CO. COMMON 191216100 3,183,501 52,300 X X 28,786 0 23,514 COLGATE PALMOLIVE CO COMMON 194162103 6,457,245 82,881 X X 38,208 0 44,673 COMCAST CORP NEW A SP COMMON 20030N200 899,728 47,429 X X 40,604 0 6,825 COMCAST CORP NEW CL A COMMON 20030N101 1,745,184 90,237 X X 83,905 0 6,332 CONCURRENT COMPUTER C COMMON 206710204 76,516 109,465 X X 108,768 0 697 CONOCOPHILLIPS COMMON 20825C104 5,765,363 75,651 X X 48,017 0 27,634 CONSOL ENERGY INC COM COMMON 20854P109 1,145,095 16,550 X X 10,550 0 6,000 CORNING INC COMMON 219350105 7,137,668 296,908 X 209,938 0 86,970 COSTCO WHOLESALE COMMON 22160K105 1,225,182 18,858 X X 7,900 0 10,958 CSX CORP COMMON 126408103 207,459 3,700 X 1,000 0 2,700 CULLEN FROST BANKERS COMMON 229899109 1,237,954 23,340 X 6,600 0 16,740 CVS CORP COMMON 126650100 9,956,125 245,770 X X 144,185 0 101,585 DAKTRONICS INC COM COMMON 234264109 402,975 22,500 X 17,150 0 5,350 DENTSPLY INTL INC NEW COMMON 249030107 5,814,751 150,641 X X 46,620 0 104,021 DEUTSCHE BANK CAP FDG PREFERR 25153Y206 206,820 9,000 X 9,000 0 0 DEVON ENERGY CORP NEW COMMON 25179M103 7,273,679 69,718 X X 46,773 0 22,945 DISNEY WALT COMPANY COMMON 254687106 1,572,766 50,120 X 46,858 0 3,262 DOMINION RES INC VA N COMMON 25746U109 1,594,475 39,042 X X 34,242 0 4,800 DU PONT E I DE NEMOUR COMMON 263534109 2,839,501 60,725 X X 50,175 0 10,550 DUKE ENERGY CORP COMMON 26441C105 1,380,626 77,346 X X 62,850 0 14,496 DUKE REALTY CORP NEW COMMON 264411505 218,976 9,600 X X 6,800 0 2,800 E M C CORP MASS COMMON 268648102 3,700,537 258,057 X X 169,532 0 88,525 EBAY INC COMMON 278642103 707,208 23,700 X 20,700 0 3,000 EDISON INTL COMMON 281020107 323,042 6,590 X 6,590 0 0 EMERSON ELECTRIC CO COMMON 291011104 2,900,800 56,370 X X 45,673 0 10,697 ENCANA CORP COMMON 292505104 863,399 11,398 X 600 0 10,798 ENSCO INTL INC COMMON 26874Q100 653,440 10,435 X X 5,835 0 4,600 ENTERGY CORP NEW COMMON 29364G103 381,780 3,500 X 3,500 0 0 ENTERPRISE PRODS PART COMMON 293792107 1,709,429 57,557 X X 21,370 0 36,186 EQUITABLE RESOURCES I COMMON 294549100 504,891 8,572 X 0 0 8,572 EXELON CORP COMMON 30161N101 664,138 8,172 X X 7,072 0 1,100 EXXON MOBIL COMMON 30231G102 35,852,755 423,892 X X 320,261 0 103,630 FEDERATED GOVT INCOME MUTUAL 313912107 128,193 14,291 X 14,291 0 0 FEDEX CORP COMMON 31428X106 9,637,619 103,999 X X 65,077 0 38,922 FORTUNE BRANDS INC COMMON 349631101 557,807 8,026 X X 6,926 0 1,100 FPL GROUP INC COMMON 302571104 1,821,154 29,027 X X 25,427 0 3,600 FRANKLIN RESOURCES IN COMMON 354613101 6,327,291 65,237 X X 26,661 0 38,576 FRANKLIN TAX FREE TR MUTUAL 354723801 422,805 42,112 X 42,112 0 0 GENENTECH INC NEW COMMON 368710406 276,012 3,400 X 500 0 2,900 GENERAL DYNAMICS CORP COMMON 369550108 200,323 2,403 X 2,403 0 0 GENERAL ELECTRIC CO COMMON 369604103 29,399,729 794,373 X X 560,019 0 234,353 GENERAL MILLS INC COMMON 370334104 1,107,720 18,499 X 16,049 0 2,450 GENESEE & WYO INC CL COMMON 371559105 263,779 7,668 X 0 0 7,668 GILEAD SCIENCES INC COMMON 375558103 1,176,430 22,830 X 18,060 0 4,770 GLAXOSMITHKLINE PLC A COMMON 37733W105 1,770,118 41,719 X X 32,920 0 8,799 GOLDMAN SACHS GROUP I COMMON 38141G104 479,631 2,900 X 2,550 0 350 GOLDMAN SACHS GROUP I PREFERR 38143Y665 2,561,315 143,975 X X 120,675 0 23,300 GOODRICH CORPORATION COMMON 382388106 201,285 3,500 X 3,500 0 0 GOOGLE INC CL A COMMON 38259P508 577,016 1,310 X 1,155 0 155 HALLIBURTON CO. COMMON 406216101 1,573,790 40,015 X 31,540 0 8,475 HARLEY DAVIDSON INC COMMON 412822108 282,000 7,520 X 7,520 0 0 HARRIS CORP DEL COMMON 413875105 293,607 6,050 X 4,850 0 1,200 HCP INC COMMON 40414L109 289,887 8,574 X X 4,088 0 4,486 HEINZ H J CO. COMMON 423074103 1,013,613 21,580 X X 7,980 0 13,600 HELMERICH & PAYNE COMMON 423452101 2,629,407 56,100 X 20,550 0 35,550 HERSHEY FOODS CORP COMMON 427866108 777,283 20,634 X 14,100 0 6,534 HEWLETT PACKARD CO. COMMON 428236103 1,207,762 26,451 X X 22,084 0 4,367 HOME DEPOT INC COMMON 437076102 675,539 24,152 X 23,062 0 1,090 HONEYWELL INTL INC COMMON 438516106 1,180,306 20,920 X 4,218 0 16,702 HSBC HLDGS PLC ADR SP COMMON 404280406 1,147,979 13,949 X 13,949 0 0 ILLINOIS TOOL WORKS I COMMON 452308109 7,984,139 165,543 X X 104,967 0 60,576 IMS HEALTH INC COM COMMON 449934108 245,082 11,665 X 11,665 0 0 INGERSOLL-RAND COMPAN COMMON G4776G101 904,082 20,280 X 20,280 0 0 INT'L BUSINESS MACH. COMMON 459200101 8,103,770 70,382 X X 53,497 0 16,885 INTEL CORP COMMON 458140100 10,127,877 478,181 X X 340,642 0 137,539 ISHARES TR MSCI EMERG MUTUAL 464287234 1,510,834 11,243 X X 8,003 0 3,240 ISHARES TR RUSSL 2000 MUTUAL 464287655 498,517 7,300 X 3,700 0 3,600 ISHARES TR S&P 500 IN MUTUAL 464287200 223,204 1,688 X 0 0 1,688 ITT CORP NEW COM COMMON 450911102 2,865,404 55,306 X X 33,471 0 21,835 J P MORGAN CHASE & CO COMMON 46625H100 2,419,545 56,334 X X 46,815 0 9,519 JANUS INVT FD ORION F MUTUAL 471023648 243,839 20,788 X 20,788 0 0 JOHNSON CONTROLS INC COMMON 478366107 385,320 11,400 X X 8,500 0 2,900 JOHNSON & JOHNSON COMMON 478160104 23,487,842 362,076 X X 270,694 0 91,381 JULIUS BAER INVT FDS MUTUAL 481370500 464,046 11,433 X 11,433 0 0 KELLOGG CO. COMMON 487836108 4,313,486 82,068 X X 40,763 0 41,305 KIMBERLY CLARK CORP COMMON 494368103 2,662,881 41,253 X 38,553 0 2,700 KIMCO RLTY CORP COMMON 49446R109 216,963 5,539 X 5,539 0 0 KINDER MORGAN EGY PTN COMMON 494550106 713,705 13,050 X 4,700 0 8,350 KOHLS CORP COMMON 500255104 3,086,279 71,958 X 62,708 0 9,250 KONINKLIJKE PHILIPS E COMMON 500472303 373,010 9,729 X 9,729 0 0 KRAFT FOODS INC CL A COMMON 50075N104 1,687,347 54,413 X X 26,660 0 27,753 LEGG MASON INC COMMON 524901105 790,718 14,125 X 9,025 0 5,100 LEHMAN BROTHERS HLDGS COMMON 524908100 793,602 21,084 X 20,859 0 225 LIFECELL CORP COM COMMON 531927101 777,555 18,500 X 18,500 0 0 LILLY, ELI AND COMPAN COMMON 532457108 450,880 8,740 X 7,061 0 1,679 LINCOLN NATL CORP COMMON 534187109 2,807,168 53,984 X X 15,807 0 38,177 LOEWS CORP COMMON 540424108 852,664 21,200 X 21,200 0 0 LOWE'S COS INC COMMON 548661107 4,745,896 206,883 X 144,693 0 62,190 L-3 COMMUNICATIONS HO COMMON 502424104 8,763,710 80,151 X X 38,131 0 42,020 MAGELLAN MIDSTREAM PA COMMON 559080106 295,650 7,300 X 3,900 0 3,400 MCDONALD'S CORP COMMON 580135101 4,514,375 80,946 X X 54,983 0 25,963 MCGRAW-HILL COMPANIES COMMON 580645109 221,663 5,999 X 5,999 0 0 MEDTRONIC INC COMMON 585055106 9,098,427 188,101 X X 134,501 0 53,600 MERCK & CO. INC COMMON 589331107 1,722,525 45,389 X X 36,314 0 9,076 MERITOR SVGS BK PA COMMON 590007100 90,620 23,000 X 2,000 0 21,000 MERRILL LYNCH & CO. I COMMON 590188108 387,641 9,515 X 6,125 0 3,390 METLIFE INC COMMON 59156R108 1,084,680 18,000 X X 15,300 0 2,700 MICROSOFT CORP COMMON 594918104 11,001,315 387,643 X X 243,601 0 144,042 MOLEX INC COMMON 608554101 1,400,601 60,475 X 57,875 0 2,600 MOTOROLA INC COMMON 620076109 117,180 12,600 X 9,600 0 3,000 NABORS INDUSTRIES COMMON G6359F103 3,042,778 90,103 X 67,503 0 22,600 NCR CORP NEW COMMON 62886E108 238,574 10,450 X 10,450 0 0 NESTLE S A REG ADR COMMON 641069406 202,067 1,611 X 1,611 0 0 NOBLE CORP COMMON G65422100 11,690,480 235,363 X X 150,278 0 85,085 NOBLE ENERGY COMMON 655044105 378,560 5,200 X 0 0 5,200 NOKIA CORP ADR COMMON 654902204 1,005,852 31,601 X 22,551 0 9,050 NORDSTROM INC COMMON 655664100 1,961,346 60,164 X X 28,864 0 31,300 NORFOLK SOUTHERN CORP COMMON 655844108 2,258,082 41,570 X X 35,420 0 6,150 NOVARTIS AG SPONSORED COMMON 66987V109 3,703,997 72,301 X 42,991 0 29,310 OCCIDENTAL PETE CORP COMMON 674599105 921,942 12,600 X 12,600 0 0 OMNICOM GROUP COMMON 681919106 5,882,700 133,153 X X 86,203 0 46,950 OPTIONSXPRESS HLDGS I COMMON 684010101 776,625 37,500 X 0 0 37,500 ORACLE SYS CORP COMMON 68389X105 4,744,669 242,570 X X 161,070 0 81,500 PACCAR INC COMMON 693718108 202,500 4,500 X 4,500 0 0 PEABODY ENERGY CORP COMMON 704549104 204,000 4,000 X 4,000 0 0 PENNSYLVANIA REIT COMMON 709102107 7,058,872 289,417 X X 152,610 0 136,806 PEPSICO INC COMMON 713448108 8,651,560 119,828 X X 90,929 0 28,899 PFIZER INC COMMON 717081103 6,130,355 292,898 X X 243,547 0 49,351 PHILIP MORRIS INTL IN COMMON 718172109 4,773,285 94,371 X X 52,912 0 41,459 PHOTOMEDEX INC COMMON 719358103 14,720 16,000 X 0 0 16,000 PINNACLE WEST CAP COR COMMON 723484101 210,480 6,000 X 0 0 6,000 PLANTGENIX INC PFD B COMMON 727990251 0 100,000 X 100,000 0 0 PNC FINANCIAL CORP COMMON 693475105 591,966 9,028 X 2,827 0 6,201 PPG INDUSTRIES INC COMMON 693506107 1,145,273 18,927 X X 16,990 0 1,937 PPL CORP COMMON 69351T106 1,432,612 31,198 X X 13,462 0 17,736 PRAXAIR INC COMMON 74005P104 2,318,431 27,525 X 15,430 0 12,095 PROCTER & GAMBLE CO COMMON 742718109 11,814,783 168,614 X X 144,438 0 24,176 PROGRESS ENERGY INC C COMMON 743263105 630,713 15,125 X X 7,125 0 8,000 PROTECTED BUY-WRITE 0 PREFERR 61747S850 221,750 25,000 X 25,000 0 0 PROTECTED BUY-WRITE 1 PREFERR 61750V840 154,980 18,000 X 15,000 0 3,000 PUBLIC SVC ENTERPRISE COMMON 744573106 508,725 12,658 X 11,038 0 1,620 QUESTAR CORP COMMON 748356102 716,050 12,660 X X 1,300 0 11,360 RANGE RES CORP COM COMMON 75281A109 365,472 5,760 X 5,760 0 0 RAYMOND JAMES FINANCI COMMON 754730109 3,624,176 157,710 X X 115,385 0 42,325 RAYTHEON CO NEW COMMON 755111507 1,759,976 27,240 X 26,890 0 350 REGIONS FINANCIAL COR COMMON 7591EP100 216,579 10,966 X X 7,028 0 3,938 ROHM & HAAS CO. COMMON 775371107 1,687,296 31,200 X 31,200 0 0 ROYAL DUTCH SHELL PLC COMMON 780259206 1,140,239 16,530 X X 16,030 0 500 SANDISK CORP COMMON 80004C101 1,751,996 77,625 X 45,025 0 32,600 SBM OFFSHORE NV SHS COMMON N7752F148 925,668 28,570 X X 26,170 0 2,400 SCHERING PLOUGH CORP COMMON 806605101 253,702 17,606 X 14,340 0 3,266 SCHLUMBERGER LTD COMMON 806857108 10,083,735 115,905 X X 74,860 0 41,045 SEAGATE TECHNOLOGY COMMON G7945J104 1,240,695 59,250 X X 48,650 0 10,600 SEALED AIR CORP NEW COMMON 81211K100 202,000 8,000 X 8,000 0 0 SEI INVTS CO. COMMON 784117103 6,640,277 268,946 X X 150,506 0 118,440 SIGMA ALDRICH CORP COMMON 826552101 596,142 9,994 X 9,994 0 0 SIMON PPTY GROUP INC COMMON 828806109 213,693 2,300 X 2,300 0 0 ST JUDE MED INC COMMON 790849103 240,396 5,566 X 4,666 0 900 STAPLES INC COMMON 855030102 2,160,191 97,702 X X 54,587 0 43,115 STATE STREET CORP COMMON 857477103 671,658 8,502 X 7,999 0 503 STERICYCLE INC COM COMMON 858912108 370,800 7,200 X 7,200 0 0 SUNTRUST BKS INC COMMON 867914103 441,561 8,008 X X 2,184 0 5,824 SUPERVALU INC COMMON 868536103 1,261,199 42,068 X X 1,755 0 40,313 SYSCO CORP COMMON 871829107 6,855,366 236,229 X X 142,879 0 93,350 TARGET CORP COMMON 87612E106 350,452 6,915 X X 3,565 0 3,350 TELEFONICA S A ADR COMMON 879382208 483,764 5,592 X X 0 0 5,592 TERADATA CORP DEL COM COMMON 88076W103 230,527 10,450 X 10,450 0 0 TEVA PHARMACEUTICAL COMMON 881624209 5,266,169 114,011 X 57,811 0 56,200 TEXAS INSTRUMENTS INC COMMON 882508104 1,938,276 68,563 X X 61,563 0 7,000 TEXAS PAC LD COMMON 882610108 226,875 5,500 X 5,500 0 0 TEXTRON INC COMMON 883203101 662,269 11,950 X X 10,750 0 1,200 THERMO ELECTRON CORP COMMON 883556102 1,849,517 32,539 X 32,539 0 0 TOLL BROTHERS INC COMMON 889478103 279,412 11,900 X X 5,200 0 6,700 TOYOTA MTR CORP ADR 1 COMMON 892331307 2,752,178 27,279 X X 14,694 0 12,585 TRANSOCEAN INC COM NE COMMON G90073100 12,848,318 95,032 X X 59,257 0 35,775 UBS FDS DYNAMIC ALPH MUTUAL 90262H353 105,814 10,303 X 10,303 0 0 ULTRA PETROLEUM CORP COMMON 903914109 3,825,943 49,367 X X 33,492 0 15,875 UNILEVER N V COMMON 904784709 469,926 13,932 X X 4,200 0 9,732 UNION PACIFIC CORP COMMON 907818108 484,970 3,868 X X 736 0 3,132 UNITED PARCEL SVC INC COMMON 911312106 932,319 12,768 X 12,750 0 18 UNITED TECHNOLOGIES C COMMON 913017109 3,826,066 55,595 X X 47,893 0 7,702 UNITEDHEALTH GROUP IN COMMON 91324P102 537,390 15,640 X X 12,800 0 2,840 US BANCORP NEW COMMON 902973304 1,821,512 56,289 X X 35,352 0 20,937 V F CORP COMMON 918204108 677,354 8,739 X X 2,088 0 6,651 VANGUARD BD INDEX FD MUTUAL 921937868 169,555 16,526 X 16,526 0 0 VANGUARD FIXED INCOME MUTUAL 922031844 241,195 22,416 X 22,416 0 0 VANGUARD INDEX FDS TT MUTUAL 922908488 463,786 15,082 X 15,082 0 0 VANGUARD INTERM-TERM MUTUAL 922907878 620,367 47,284 X 25,622 0 21,662 VANGUARD INTL EQUITY MUTUAL 922042775 468,175 8,686 X 5,985 0 2,701 VANGUARD MUN BD FD IN MUTUAL 922907886 309,640 28,565 X 28,565 0 0 VANGUARD TAX-MANAGED MUTUAL 921943866 456,986 7,145 X 7,145 0 0 VANGUARD TAX-MANAGED MUTUAL 921943809 378,637 26,835 X 26,835 0 0 VANGUARD/WINDSOR FD I MUTUAL 922018403 265,758 5,728 X 5,728 0 0 VERIZON COMMUNICATION COMMON 92343V104 2,772,825 76,072 X X 53,288 0 22,784 VODAFONE GROUP INC COMMON 92857W209 313,750 10,632 X 10,632 0 0 WACHOVIA CORP COMMON 929903102 2,354,989 87,222 X X 45,680 0 41,542 WAL MART STORES INC COMMON 931142103 610,403 11,587 X 10,187 0 1,400 WALGREEN COMPANY COMMON 931422109 240,576 6,316 X 4,933 0 1,383 WALLFRIN INDUSTRIES I COMMON 932495104 0 20,000 X 0 0 20,000 WEATHERFORD INTL LTD COMMON G95089101 291,692 4,025 X 4,025 0 0 WELLS FARGO & CO NEW COMMON 949746101 1,895,952 65,153 X X 48,703 0 16,450 WEYERHAEUSER CO COMMON 962166104 562,596 8,650 X 4,200 0 4,450 WILLIS GROUP HOLDINGS COMMON G96655108 2,512,348 74,750 X X 33,400 0 41,350 WRIGLEY WM JR CO. COMMON 982526105 278,821 4,437 X 0 0 4,437 WYETH COMMON 983024100 3,412,627 81,720 X X 53,620 0 28,100 XTO ENERGY INC COM COMMON 98385X106 557,730 9,016 X 6,241 0 2,775 YUM BRANDS INC COMMON 988498101 490,279 13,176 X X 12,132 0 1,044 ZIMMER HLDGS INC COMMON 98956P102 4,477,028 57,501 X X 45,876 0 11,625
TOWER BRIDGE ADVISORS DISCRETIONARY OWNERSHIP FOR 13F AS OF DATE: 03/31/08 (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 5,199,029 65,686 64,486 1,200 A T & T INC (NEW) COMMON 00206R102 8,795,470 229,647 206,603 23,044 ABBOTT LABS COMMON 002824100 3,483,495 63,164 57,284 5,880 ACCENTURE LTD CL A COMMON G1150G111 7,244,106 205,974 201,774 4,200 AETNA U S HEALTHCARE COMMON 00817Y108 202,032 4,800 4,800 AFLAC INC COMMON 001055102 454,585 6,999 6,999 AIM INVT SECS FDS INC MUTUAL 00142C805 68,327 16,913 16,913 AIR PRODS & CHEMS INC COMMON 009158106 6,272,652 68,181 68,181 ALCOA INC COMMON 013817101 1,938,586 53,760 52,260 1,500 ALLETE INC NEW COMMON 018522300 477,961 12,376 12,276 100 ALLIANCEBERNSTEIN HOL COMMON 01881G106 361,266 5,700 5,700 ALLSTATE CORP COMMON 020002101 226,170 4,706 1,756 2,950 ALTRIA GROUP INC COMMON 02209S103 2,095,036 94,371 56,197 38,174 AMDOCS LTD ORD COMMON G02602103 5,792,927 204,264 201,464 2,800 AMERICAN EXPRESS CO. COMMON 025816109 1,476,512 33,772 33,172 600 AMERICAN INTL GROUP I COMMON 026874107 9,655,725 223,254 210,454 12,800 AMGEN INC COMMON 031162100 988,139 23,651 23,351 300 ANADARKO PETROLEUM COMMON 032511107 843,972 13,390 13,390 ANHEUSER BUSCH COS IN COMMON 035229103 403,515 8,504 8,504 APACHE CORP COMMON 037411105 4,060,639 33,609 33,409 200 APHTON CORP COMMON 03759P101 6 15,000 15,000 APPLE COMPUTER INC COMMON 037833100 697,554 4,861 4,861 AQUA AMERICA INC COMMON 03836W103 597,429 31,812 31,812 AUTOMATIC DATA PROCES COMMON 053015103 5,638,209 133,008 130,508 2,500 BANK OF AMERICA CORP COMMON 060505104 10,123,180 267,032 236,144 30,888 BANK OF NEW YORK MELL COMMON 064058100 312,391 7,486 7,486 BAXTER INTERNATIONAL COMMON 071813109 1,118,817 19,350 19,350 BECKMAN COULTER INC COMMON 075811109 879,817 13,630 13,630 BECTON DICKINSON & CO COMMON 075887109 673,923 7,850 7,850 BED BATH & BEYOND INC COMMON 075896100 336,300 11,400 11,400 BERKSHIRE HATHAWAY IN COMMON 084670108 400,200 3 3 BERKSHIRE HATHAWAY (B COMMON 084670207 751,447 168 168 BEST BUY INC COMMON 086516101 766,803 18,495 18,495 BJ SERVICES COMMON 055482103 647,605 22,715 22,715 BLACKROCK INSD MUN TE MUTUAL 092474105 170,850 17,000 17,000 BLACKROCK WORLD INVT COMMON 09250K103 150,796 10,175 10,175 BOEING CO. COMMON 097023105 836,284 11,245 3,245 8,000 BP PLC ADR COMMON 055622104 4,506,295 74,300 66,252 8,048 BRIDGEWAY FD INC SMCA MUTUAL 108747825 950,913 61,548 61,548 BRIDGEWAY FD INC ULTR MUTUAL 108747403 167,393 10,737 10,737 BRISTOL MYERS SQUIBB COMMON 110122108 1,095,353 51,425 45,825 5,600 BRYN MAWR BANK CORP COMMON 117665109 286,623 13,160 13,160 BURLINGTON NORTHN SAN COMMON 12189T104 3,641,122 39,483 36,283 3,200 CALIPER LIFE SCIENCES COMMON 130872104 37,500 10,000 10,000 CAMPBELL SOUP CO COMMON 134429109 597,520 17,600 17,600 CARNIVAL CORP PAIRED COMMON 143658300 273,240 6,750 5,350 1,400 CATERPILLAR INC COMMON 149123101 2,459,089 31,410 31,410 CHEVRONTEXACO CORP COMMON 166764100 6,683,851 78,302 72,790 5,512 CHUBB CORP COMMON 171232101 257,296 5,200 2,800 2,400 CIGNA CORP COMMON 125509109 412,475 10,167 10,167 CISCO SYSTEMS INC COMMON 17275R102 10,183,469 422,726 395,121 27,605 CITIGROUP INC COMMON 172967101 1,097,861 51,254 48,925 2,329 CLOROX CO COMMON 189054109 392,572 6,931 6,931 COCA COLA CO. COMMON 191216100 3,183,501 52,300 32,300 20,000 COLGATE PALMOLIVE CO COMMON 194162103 6,457,245 82,881 82,281 600 COMCAST CORP NEW A SP COMMON 20030N200 899,728 47,429 47,129 300 COMCAST CORP NEW CL A COMMON 20030N101 1,745,184 90,237 86,036 4,201 CONCURRENT COMPUTER C COMMON 206710204 76,516 109,465 108,768 697 CONOCOPHILLIPS COMMON 20825C104 5,765,363 75,651 73,251 2,400 CONSOL ENERGY INC COM COMMON 20854P109 1,145,095 16,550 10,550 6,000 CORNING INC COMMON 219350105 7,137,668 296,908 296,908 COSTCO WHOLESALE COMMON 22160K105 1,225,182 18,858 18,856 2 CSX CORP COMMON 126408103 207,459 3,700 3,700 CULLEN FROST BANKERS COMMON 229899109 1,237,954 23,340 23,340 CVS CORP COMMON 126650100 9,956,125 245,770 242,470 3,300 DAKTRONICS INC COM COMMON 234264109 402,975 22,500 22,500 DENTSPLY INTL INC NEW COMMON 249030107 5,814,751 150,641 148,841 1,800 DEUTSCHE BANK CAP FDG PREFERR 25153Y206 206,820 9,000 9,000 DEVON ENERGY CORP NEW COMMON 25179M103 7,273,679 69,718 68,968 750 DISNEY WALT COMPANY COMMON 254687106 1,572,766 50,120 50,120 DOMINION RES INC VA N COMMON 25746U109 1,594,475 39,042 34,842 4,200 DU PONT E I DE NEMOUR COMMON 263534109 2,839,501 60,725 56,175 4,550 DUKE ENERGY CORP COMMON 26441C105 1,380,626 77,346 63,850 13,496 DUKE REALTY CORP NEW COMMON 264411505 218,976 9,600 7,800 1,800 E M C CORP MASS COMMON 268648102 3,700,537 258,057 256,757 1,300 EBAY INC COMMON 278642103 707,208 23,700 23,700 EDISON INTL COMMON 281020107 323,042 6,590 6,590 EMERSON ELECTRIC CO COMMON 291011104 2,900,800 56,370 54,970 1,400 ENCANA CORP COMMON 292505104 863,399 11,398 11,398 ENSCO INTL INC COMMON 26874Q100 653,440 10,435 5,835 4,600 ENTERGY CORP NEW COMMON 29364G103 381,780 3,500 3,500 ENTERPRISE PRODS PART COMMON 293792107 1,709,429 57,557 55,357 2,200 EQUITABLE RESOURCES I COMMON 294549100 504,891 8,572 8,572 EXELON CORP COMMON 30161N101 664,138 8,172 7,072 1,100 EXXON MOBIL COMMON 30231G102 35,852,755 423,892 395,452 28,440 FEDERATED GOVT INCOME MUTUAL 313912107 128,193 14,291 14,291 FEDEX CORP COMMON 31428X106 9,637,619 103,999 101,399 2,600 FORTUNE BRANDS INC COMMON 349631101 557,807 8,026 6,926 1,100 FPL GROUP INC COMMON 302571104 1,821,154 29,027 27,027 2,000 FRANKLIN RESOURCES IN COMMON 354613101 6,327,291 65,237 64,937 300 FRANKLIN TAX FREE TR MUTUAL 354723801 422,805 42,112 42,112 GENENTECH INC NEW COMMON 368710406 276,012 3,400 3,400 GENERAL DYNAMICS CORP COMMON 369550108 200,323 2,403 2,403 GENERAL ELECTRIC CO COMMON 369604103 29,399,729 794,373 765,122 29,251 GENERAL MILLS INC COMMON 370334104 1,107,720 18,499 18,499 GENESEE & WYO INC CL COMMON 371559105 263,779 7,668 7,668 GILEAD SCIENCES INC COMMON 375558103 1,176,430 22,830 22,830 GLAXOSMITHKLINE PLC A COMMON 37733W105 1,770,118 41,719 40,319 1,400 GOLDMAN SACHS GROUP I COMMON 38141G104 479,631 2,900 2,900 GOLDMAN SACHS GROUP I PREFERR 38143Y665 2,561,315 143,975 142,875 1,100 GOODRICH CORPORATION COMMON 382388106 201,285 3,500 3,500 GOOGLE INC CL A COMMON 38259P508 577,016 1,310 1,310 HALLIBURTON CO. COMMON 406216101 1,573,790 40,015 40,015 HARLEY DAVIDSON INC COMMON 412822108 282,000 7,520 7,520 HARRIS CORP DEL COMMON 413875105 293,607 6,050 6,050 HCP INC COMMON 40414L109 289,887 8,574 6,574 2,000 HEINZ H J CO. COMMON 423074103 1,013,613 21,580 11,580 10,000 HELMERICH & PAYNE COMMON 423452101 2,629,407 56,100 56,100 HERSHEY FOODS CORP COMMON 427866108 777,283 20,634 20,634 HEWLETT PACKARD CO. COMMON 428236103 1,207,762 26,451 23,076 3,375 HOME DEPOT INC COMMON 437076102 675,539 24,152 24,152 HONEYWELL INTL INC COMMON 438516106 1,180,306 20,920 20,920 HSBC HLDGS PLC ADR SP COMMON 404280406 1,147,979 13,949 13,949 ILLINOIS TOOL WORKS I COMMON 452308109 7,984,139 165,543 164,443 1,100 IMS HEALTH INC COM COMMON 449934108 245,082 11,665 11,665 INGERSOLL-RAND COMPAN COMMON G4776G101 904,082 20,280 20,280 INT'L BUSINESS MACH. COMMON 459200101 8,103,770 70,382 69,035 1,347 INTEL CORP COMMON 458140100 10,127,877 478,181 450,481 27,700 ISHARES TR MSCI EMERG MUTUAL 464287234 1,510,834 11,243 10,123 1,120 ISHARES TR RUSSL 2000 MUTUAL 464287655 498,517 7,300 7,300 ISHARES TR S&P 500 IN MUTUAL 464287200 223,204 1,688 1,688 ITT CORP NEW COM COMMON 450911102 2,865,404 55,306 54,806 500 J P MORGAN CHASE & CO COMMON 46625H100 2,419,545 56,334 49,069 7,265 JANUS INVT FD ORION F MUTUAL 471023648 243,839 20,788 20,788 JOHNSON CONTROLS INC COMMON 478366107 385,320 11,400 9,900 1,500 JOHNSON & JOHNSON COMMON 478160104 23,487,842 362,076 349,776 12,300 JULIUS BAER INVT FDS MUTUAL 481370500 464,046 11,433 11,433 KELLOGG CO. COMMON 487836108 4,313,486 82,068 81,918 150 KIMBERLY CLARK CORP COMMON 494368103 2,662,881 41,253 41,253 KIMCO RLTY CORP COMMON 49446R109 216,963 5,539 5,539 KINDER MORGAN EGY PTN COMMON 494550106 713,705 13,050 13,050 KOHLS CORP COMMON 500255104 3,086,279 71,958 71,958 KONINKLIJKE PHILIPS E COMMON 500472303 373,010 9,729 9,729 KRAFT FOODS INC CL A COMMON 50075N104 1,687,347 54,413 29,174 25,239 LEGG MASON INC COMMON 524901105 790,718 14,125 14,125 LEHMAN BROTHERS HLDGS COMMON 524908100 793,602 21,084 21,084 LIFECELL CORP COM COMMON 531927101 777,555 18,500 18,500 LILLY, ELI AND COMPAN COMMON 532457108 450,880 8,740 8,740 LINCOLN NATL CORP COMMON 534187109 2,807,168 53,984 16,828 37,156 LOEWS CORP COMMON 540424108 852,664 21,200 21,200 LOWE'S COS INC COMMON 548661107 4,745,896 206,883 206,883 L-3 COMMUNICATIONS HO COMMON 502424104 8,763,710 80,151 78,601 1,550 MAGELLAN MIDSTREAM PA COMMON 559080106 295,650 7,300 7,300 MCDONALD'S CORP COMMON 580135101 4,514,375 80,946 80,346 600 MCGRAW-HILL COMPANIES COMMON 580645109 221,663 5,999 5,999 MEDTRONIC INC COMMON 585055106 9,098,427 188,101 187,951 150 MERCK & CO. INC COMMON 589331107 1,722,525 45,389 38,389 7,000 MERITOR SVGS BK PA COMMON 590007100 90,620 23,000 23,000 MERRILL LYNCH & CO. I COMMON 590188108 387,641 9,515 9,515 METLIFE INC COMMON 59156R108 1,084,680 18,000 15,300 2,700 MICROSOFT CORP COMMON 594918104 11,001,315 387,643 383,843 3,800 MOLEX INC COMMON 608554101 1,400,601 60,475 60,475 MOTOROLA INC COMMON 620076109 117,180 12,600 12,600 NABORS INDUSTRIES COMMON G6359F103 3,042,778 90,103 90,103 NCR CORP NEW COMMON 62886E108 238,574 10,450 10,450 NESTLE S A REG ADR COMMON 641069406 202,067 1,611 1,611 NOBLE CORP COMMON G65422100 11,690,480 235,363 215,063 20,300 NOBLE ENERGY COMMON 655044105 378,560 5,200 5,200 NOKIA CORP ADR COMMON 654902204 1,005,852 31,601 31,601 NORDSTROM INC COMMON 655664100 1,961,346 60,164 59,264 900 NORFOLK SOUTHERN CORP COMMON 655844108 2,258,082 41,570 40,220 1,350 NOVARTIS AG SPONSORED COMMON 66987V109 3,703,997 72,301 72,301 OCCIDENTAL PETE CORP COMMON 674599105 921,942 12,600 12,600 OMNICOM GROUP COMMON 681919106 5,882,700 133,153 132,453 700 OPTIONSXPRESS HLDGS I COMMON 684010101 776,625 37,500 37,500 ORACLE SYS CORP COMMON 68389X105 4,744,669 242,570 229,570 13,000 PACCAR INC COMMON 693718108 202,500 4,500 4,500 PEABODY ENERGY CORP COMMON 704549104 204,000 4,000 4,000 PENNSYLVANIA REIT COMMON 709102107 7,058,872 289,417 288,617 800 PEPSICO INC COMMON 713448108 8,651,560 119,828 112,728 7,100 PFIZER INC COMMON 717081103 6,130,355 292,898 256,127 36,771 PHILIP MORRIS INTL IN COMMON 718172109 4,773,285 94,371 56,197 38,174 PHOTOMEDEX INC COMMON 719358103 14,720 16,000 16,000 PINNACLE WEST CAP COR COMMON 723484101 210,480 6,000 6,000 PLANTGENIX INC PFD B COMMON 727990251 0 100,000 100,000 PNC FINANCIAL CORP COMMON 693475105 591,966 9,028 9,028 PPG INDUSTRIES INC COMMON 693506107 1,145,273 18,927 18,190 737 PPL CORP COMMON 69351T106 1,432,612 31,198 23,198 8,000 PRAXAIR INC COMMON 74005P104 2,318,431 27,525 27,525 PROCTER & GAMBLE CO COMMON 742718109 11,814,783 168,614 162,557 6,057 PROGRESS ENERGY INC C COMMON 743263105 630,713 15,125 7,125 8,000 PROTECTED BUY-WRITE 0 PREFERR 61747S850 221,750 25,000 25,000 PROTECTED BUY-WRITE 1 PREFERR 61750V840 154,980 18,000 18,000 PUBLIC SVC ENTERPRISE COMMON 744573106 508,725 12,658 12,658 QUESTAR CORP COMMON 748356102 716,050 12,660 12,260 400 RANGE RES CORP COM COMMON 75281A109 365,472 5,760 5,760 RAYMOND JAMES FINANCI COMMON 754730109 3,624,176 157,710 156,310 1,400 RAYTHEON CO NEW COMMON 755111507 1,759,976 27,240 27,240 REGIONS FINANCIAL COR COMMON 7591EP100 216,579 10,966 9,770 1,196 ROHM & HAAS CO. COMMON 775371107 1,687,296 31,200 31,200 ROYAL DUTCH SHELL PLC COMMON 780259206 1,140,239 16,530 16,330 200 SANDISK CORP COMMON 80004C101 1,751,996 77,625 77,625 SBM OFFSHORE NV SHS COMMON N7752F148 925,668 28,570 27,670 900 SCHERING PLOUGH CORP COMMON 806605101 253,702 17,606 17,606 SCHLUMBERGER LTD COMMON 806857108 10,083,735 115,905 115,005 900 SEAGATE TECHNOLOGY COMMON G7945J104 1,240,695 59,250 48,950 10,300 SEALED AIR CORP NEW COMMON 81211K100 202,000 8,000 8,000 SEI INVTS CO. COMMON 784117103 6,640,277 268,946 267,146 1,800 SIGMA ALDRICH CORP COMMON 826552101 596,142 9,994 9,994 SIMON PPTY GROUP INC COMMON 828806109 213,693 2,300 2,300 ST JUDE MED INC COMMON 790849103 240,396 5,566 5,566 STAPLES INC COMMON 855030102 2,160,191 97,702 96,102 1,600 STATE STREET CORP COMMON 857477103 671,658 8,502 8,502 STERICYCLE INC COM COMMON 858912108 370,800 7,200 7,200 SUNTRUST BKS INC COMMON 867914103 441,561 8,008 6,405 1,603 SUPERVALU INC COMMON 868536103 1,261,199 42,068 1,755 40,313 SYSCO CORP COMMON 871829107 6,855,366 236,229 234,879 1,350 TARGET CORP COMMON 87612E106 350,452 6,915 4,465 2,450 TELEFONICA S A ADR COMMON 879382208 483,764 5,592 2,389 3,203 TERADATA CORP DEL COM COMMON 88076W103 230,527 10,450 10,450 TEVA PHARMACEUTICAL COMMON 881624209 5,266,169 114,011 114,011 TEXAS INSTRUMENTS INC COMMON 882508104 1,938,276 68,563 64,663 3,900 TEXAS PAC LD COMMON 882610108 226,875 5,500 5,500 TEXTRON INC COMMON 883203101 662,269 11,950 10,750 1,200 THERMO ELECTRON CORP COMMON 883556102 1,849,517 32,539 32,539 TOLL BROTHERS INC COMMON 889478103 279,412 11,900 9,300 2,600 TOYOTA MTR CORP ADR 1 COMMON 892331307 2,752,178 27,279 27,004 275 TRANSOCEAN INC COM NE COMMON G90073100 12,848,318 95,032 94,415 617 UBS FDS DYNAMIC ALPH MUTUAL 90262H353 105,814 10,303 10,303 ULTRA PETROLEUM CORP COMMON 903914109 3,825,943 49,367 46,367 3,000 UNILEVER N V COMMON 904784709 469,926 13,932 12,861 1,071 UNION PACIFIC CORP COMMON 907818108 484,970 3,868 2,324 1,544 UNITED PARCEL SVC INC COMMON 911312106 932,319 12,768 12,768 UNITED TECHNOLOGIES C COMMON 913017109 3,826,066 55,595 49,175 6,420 UNITEDHEALTH GROUP IN COMMON 91324P102 537,390 15,640 13,240 2,400 US BANCORP NEW COMMON 902973304 1,821,512 56,289 51,489 4,800 V F CORP COMMON 918204108 677,354 8,739 8,139 600 VANGUARD BD INDEX FD MUTUAL 921937868 169,555 16,526 16,526 VANGUARD FIXED INCOME MUTUAL 922031844 241,195 22,416 22,416 VANGUARD INDEX FDS TT MUTUAL 922908488 463,786 15,082 15,082 VANGUARD INTERM-TERM MUTUAL 922907878 620,367 47,284 47,284 VANGUARD INTL EQUITY MUTUAL 922042775 468,175 8,686 8,686 VANGUARD MUN BD FD IN MUTUAL 922907886 309,640 28,565 28,565 VANGUARD TAX-MANAGED MUTUAL 921943866 456,986 7,145 7,145 VANGUARD TAX-MANAGED MUTUAL 921943809 378,637 26,835 26,835 VANGUARD/WINDSOR FD I MUTUAL 922018403 265,758 5,728 5,728 VERIZON COMMUNICATION COMMON 92343V104 2,772,825 76,072 59,715 16,357 VODAFONE GROUP INC COMMON 92857W209 313,750 10,632 10,632 WACHOVIA CORP COMMON 929903102 2,354,989 87,222 77,722 9,500 WAL MART STORES INC COMMON 931142103 610,403 11,587 11,587 WALGREEN COMPANY COMMON 931422109 240,576 6,316 6,316 WALLFRIN INDUSTRIES I COMMON 932495104 0 20,000 20,000 WEATHERFORD INTL LTD COMMON G95089101 291,692 4,025 4,025 WELLS FARGO & CO NEW COMMON 949746101 1,895,952 65,153 51,153 14,000 WEYERHAEUSER CO COMMON 962166104 562,596 8,650 8,650 WILLIS GROUP HOLDINGS COMMON G96655108 2,512,348 74,750 73,850 900 WRIGLEY WM JR CO. COMMON 982526105 278,821 4,437 4,437 WYETH COMMON 983024100 3,412,627 81,720 59,731 21,989 XTO ENERGY INC COM COMMON 98385X106 557,730 9,016 9,016 YUM BRANDS INC COMMON 988498101 490,279 13,176 12,376 800 ZIMMER HLDGS INC COMMON 98956P102 4,477,028 57,501 57,101 400
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