0001278249-13-000004.txt : 20130430 0001278249-13-000004.hdr.sgml : 20130430 20130430095606 ACCESSION NUMBER: 0001278249-13-000004 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20130331 FILED AS OF DATE: 20130430 DATE AS OF CHANGE: 20130430 EFFECTIVENESS DATE: 20130430 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: 13794913 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 sec13f03312013final.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, 2013 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: 101 West Elm Street Suite 355 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, Conshohocken, PA April 30, 2013 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: 200 Form 13f Information Table Value Total: $651,272,111 List of Other Included Managers: None TOWER BRIDGE ADVISORS DISCRETIONARY OWNERSHIP FOR 13F

AS OF DATE: 03/31/13 (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 13,042,536 122,684 X X 96,764 0 25,920 A T & T INC (NEW) COMMON 00206R102 13,212,839 360,121 X X 280,514 0 79,607 ABBOTT LABS COMMON 002824100 2,030,406 57,486 X X 42,951 0 14,535 ABBVIE INC COM COMMON 00287Y109 2,356,921 57,796 X X 43,261 0 14,535 ACCENTURE PLC COMMON G1151C101 3,971,408 52,276 X X 24,650 0 27,626 AETNA U S HEALTHCARE COMMON 00817Y108 7,697,366 150,545 X X 120,463 0 30,082 AIR PRODS & CHEMS INC COMMON 009158106 3,669,494 42,120 X X 36,520 0 5,600 ALLETE INC NEW COMMON 018522300 251,473 5,130 X X 5,030 0 100 ALTRIA GROUP INC COMMON 02209S103 755,342 21,964 X X 12,506 0 9,458 AMAZON COM INC COMMON 023135106 226,517 850 X 850 0 0 AMERICAN EXPRESS CO. COMMON 025816109 1,188,308 17,615 X X 9,690 0 7,925 AMERICAN SHORT TERM B MUTUAL 82524A300 186,593 18,566 X 18,566 0 0 AMGEN INC COMMON 031162100 1,806,021 17,618 X 14,550 0 3,068 ANADARKO PETROLEUM COMMON 032511107 5,783,156 66,131 X X 55,231 0 10,900 APACHE CORP COMMON 037411105 290,893 3,770 X 2,510 0 1,260 APHTON CORP COMMON 03759P101 15 15,000 X 0 0 15,000 APPLE INC COMMON 037833100 6,175,992 13,952 X X 12,507 0 1,445 AQUA AMERICA INC COMMON 03836W103 938,138 29,839 X 24,160 0 5,679 AUTOMATIC DATA PROCES COMMON 053015103 5,131,983 78,917 X X 60,642 0 18,275 BANK OF AMERICA CORP COMMON 060505104 288,873 23,717 X 23,315 0 402 BAXTER INTERNATIONAL COMMON 071813109 1,213,233 16,702 X 16,702 0 0 BB&T CORP COMMON 054937107 2,224,076 70,853 X X 44,625 0 26,228 BECTON DICKINSON & CO COMMON 075887109 11,896,228 124,425 X X 85,770 0 38,655 BERKSHIRE HATHAWAY IN COMMON 084670702 2,339,603 22,453 X 21,553 0 900 BERKSHIRE HATHAWAY IN COMMON 084670108 781,400 5 X 5 0 0 BLACKROCK NATL MUN FD MUTUAL 09253C744 116,143 10,511 X 10,511 0 0 BOARDWALK PIPELINE PA COMMON 096627104 1,039,333 35,460 X X 19,010 0 16,450 BOEING CO. COMMON 097023105 409,590 4,771 X 4,411 0 360 BP PLC ADR COMMON 055622104 1,084,922 25,618 X 25,618 0 0 BRISTOL MYERS SQUIBB COMMON 110122108 11,215,707 272,292 X X 195,282 0 77,010 BRYN MAWR BANK CORP COMMON 117665109 640,200 27,500 X 22,500 0 5,000 CAMPBELL SOUP CO COMMON 134429109 798,336 17,600 X 17,600 0 0 CATERPILLAR INC COMMON 149123101 2,624,320 30,175 X X 18,540 0 11,635 CENOVUS ENERGY INC CO COMMON 15135U109 2,146,058 69,250 X 31,750 0 37,500 CHEVRON CORP COMMON 166764100 11,077,232 93,227 X X 75,197 0 18,030 CHUBB CORP COMMON 171232101 428,897 4,900 X X 2,200 0 2,700 CISCO SYSTEMS INC COMMON 17275R102 508,271 24,325 X X 17,625 0 6,700 COACH INC COM COMMON 189754104 6,743,651 134,900 X X 88,465 0 46,435 COCA COLA CO. COMMON 191216100 2,017,309 49,884 X 45,260 0 4,624 COGNIZANT TECHNOLOGY COMMON 192446102 6,120,409 79,879 X X 62,818 0 17,061 COLGATE PALMOLIVE CO COMMON 194162103 5,245,499 44,442 X X 25,048 0 19,394 COMCAST CORP NEW A SP COMMON 20030N200 268,793 6,786 X 6,786 0 0 COMERICA INC COMMON 200340107 6,911,423 192,251 X X 145,086 0 47,165 CONOCOPHILLIPS COMMON 20825C104 2,168,228 36,077 X 30,854 0 5,223 CONSOLIDATED EDISON I COMMON 209115104 565,504 9,266 X X 5,410 0 3,856 CORNING INC COMMON 219350105 544,504 40,848 X 40,848 0 0 COSTCO WHOLESALE COMMON 22160K105 827,658 7,800 X X 4,400 0 3,400 CVS CORP COMMON 126650100 9,161,884 166,610 X X 101,398 0 65,212 DANAHER CORP SHS BEN COMMON 235851102 5,052,422 81,294 X X 65,578 0 15,716 DEERE & CO. COMMON 244199105 223,548 2,600 X 2,600 0 0 DENTSPLY INTL INC NEW COMMON 249030107 1,659,871 39,111 X 8,886 0 30,225 DEVON ENERGY CORP NEW COMMON 25179M103 1,054,772 18,695 X X 15,255 0 3,440 DIAGEO PLC ADR SPONSO COMMON 25243Q205 11,722,877 93,157 X X 68,357 0 24,800 DIGITAL RLTY TR INC COMMON 253868103 7,947,235 118,775 X X 81,800 0 36,975 DISCOVERY COMMUNICATI COMMON 25470F104 389,763 4,950 X X 3,000 0 1,950 DISNEY WALT COMPANY COMMON 254687106 1,504,234 26,483 X X 24,083 0 2,400 DODGE & COX INCOME FD MUTUAL 256210105 221,407 16,009 X 16,009 0 0 DOMINION RES INC VA N COMMON 25746U109 1,824,408 31,358 X X 26,658 0 4,700 DU PONT E I DE NEMOUR COMMON 263534109 9,211,502 187,378 X X 146,033 0 41,345 DUKE ENERGY CORPORATI COMMON 26441C204 813,988 11,213 X X 9,271 0 1,942 DWS CORE FIXED I NCOM MUTUAL 23339E863 102,687 10,228 X 10,228 0 0 E M C CORP MASS COMMON 268648102 8,791,544 368,001 X X 277,046 0 90,955 EATON VANCE NATL MUNS MUTUAL 27826L249 117,519 11,465 X 11,465 0 0 ECHO THERAPEUTICS INC COMMON 27876L107 21,330 27,000 X 0 0 27,000 ECOLAB INC COMMON 278865100 575,692 7,180 X 7,180 0 0 EMERSON ELECTRIC CO COMMON 291011104 10,269,521 183,811 X X 138,252 0 45,559 ENTERPRISE PRODS PART COMMON 293792107 5,624,905 93,297 X X 42,886 0 50,411 EOG RESOURCES INC COMMON 26875P101 240,772 1,880 X 1,480 0 400 EQT CORP COM COMMON 26884L109 460,700 6,800 X 2,000 0 4,800 EXPRESS SCRIPTS COMMON 30219G108 7,276,887 126,291 X X 93,861 0 32,430 EXXON MOBIL COMMON 30231G102 29,760,424 330,268 X X 258,213 0 72,055 FACEBOOK INC CL A COMMON 30303M102 2,293,580 89,663 X 63,213 0 26,450 FEDEX CORP COMMON 31428X106 5,650,723 57,543 X X 38,578 0 18,965 FIDELITY ADVISOR SER MUTUAL 315807552 103,470 10,368 X 0 0 10,368 FLUOR CORP NEW COM COMMON 343412102 2,333,158 35,175 X X 16,225 0 18,950 FRANKLIN RESOURCES IN COMMON 354613101 717,856 4,760 X 3,275 0 1,485 FULTON FINL CORP PA COMMON 360271100 281,970 24,100 X 24,100 0 0 GENERAL ELECTRIC CO COMMON 369604103 12,870,257 556,672 X X 443,784 0 112,888 GENERAL MILLS INC COMMON 370334104 1,681,471 34,100 X 29,200 0 4,900 GENESEE & WYO INC CL COMMON 371559105 437,431 4,698 X 0 0 4,698 GLAXOSMITHKLINE PLC A COMMON 37733W105 1,429,160 30,466 X X 26,060 0 4,406 GOLDMAN SACHS GROUP I PREFERR 38143Y665 7,031,203 299,455 X X 235,430 0 64,025 GOLDMAN SACHS GROUP I PREFERR 38144G804 1,797,218 75,800 X 36,500 0 39,300 GOOGLE INC CL A COMMON 38259P508 14,381,950 18,109 X X 13,342 0 4,767 HALLIBURTON CO. COMMON 406216101 801,734 19,840 X X 15,690 0 4,150 HCP INC COMMON 40414L109 402,570 8,074 X X 3,088 0 4,986 HEINZ H J CO. COMMON 423074103 711,860 9,850 X X 6,450 0 3,400 HERSHEY FOODS CORP COMMON 427866108 996,529 11,385 X 4,985 0 6,400 HOME DEPOT INC COMMON 437076102 1,623,571 23,267 X X 20,642 0 2,625 HONEYWELL INTL INC COMMON 438516106 285,727 3,792 X 2,292 0 1,500 HSBC USA INC NEW PFD PREFERR 40428H888 810,189 33,300 X 6,500 0 26,800 HUDSON CITY BANCORP C COMMON 443683107 127,008 14,700 X 14,700 0 0 ILLINOIS TOOL WORKS I COMMON 452308109 2,284,214 37,483 X X 31,391 0 6,092 INGERSOLL-RAND PLC COMMON G47791101 236,543 4,300 X 4,300 0 0 INGREDION INC COM COMMON 457187102 226,579 3,133 X 0 0 3,133 INT'L BUSINESS MACHIN COMMON 459200101 16,762,394 78,586 X X 57,856 0 20,730 INTEL CORP COMMON 458140100 1,922,135 88,030 X X 69,250 0 18,780 ISHARES TR S&P MIDCAP MUTUAL 464287507 276,628 2,404 X 2,404 0 0 J P MORGAN CHASE & CO COMMON 46625H100 10,214,958 215,233 X X 170,250 0 44,983 JOHNSON CONTROLS INC COMMON 478366107 10,671,591 304,294 X X 232,529 0 71,765 JOHNSON & JOHNSON COMMON 478160104 15,983,416 196,043 X X 161,447 0 34,596 JPMORGAN CHASE & CO PREFERR 46625H621 1,647,132 63,400 X 36,200 0 27,200 KBR INC COM COMMON 48242W106 1,092,966 34,070 X 16,650 0 17,420 KELLOGG CO. COMMON 487836108 550,619 8,546 X 1,150 0 7,396 KEYCORP NEW COMMON 493267108 8,770,856 880,608 X X 629,158 0 251,450 KIMBERLY CLARK CORP COMMON 494368103 2,735,112 27,915 X 27,915 0 0 KINDER MORGAN EGY PTN COMMON 494550106 4,680,338 52,137 X X 26,854 0 25,283 KRAFT FOODS GROUP INC COMMON 50076Q106 300,574 5,833 X X 4,888 0 945 LINCOLN NATL CORP COMMON 534187109 246,206 7,550 X 7,329 0 221 LONGLEAF PARTNERS FDS MUTUAL 543069405 375,948 24,980 X 24,980 0 0 LONGLEAF PARTNERS FDS MUTUAL 543069108 636,588 21,609 X 21,609 0 0 LONGLEAF PARTNERS FDS MUTUAL 543069207 292,306 9,030 X 9,030 0 0 LOWE'S COS INC COMMON 548661107 2,377,963 62,710 X X 52,210 0 10,500 L-3 COMMUNICATIONS HO COMMON 502424104 424,830 5,250 X X 2,050 0 3,200 MAGELLAN MIDSTREAM PA COMMON 559080106 971,892 18,190 X 8,690 0 9,500 MAIRS & PWR FDS TR CO MUTUAL 56064V205 249,346 2,653 X 2,653 0 0 MCDONALD'S CORP COMMON 580135101 8,818,378 88,458 X X 69,308 0 19,150 MEDTRONIC INC COMMON 585055106 629,781 13,411 X 13,111 0 300 MERCK & COMPANY COMMON 58933Y105 2,632,640 59,562 X X 47,017 0 12,545 METLIFE INC PFD A FLT PREFERR 59156R504 5,840,476 231,949 X X 159,674 0 72,275 MICROSOFT CORP COMMON 594918104 4,687,360 163,865 X X 111,124 0 52,741 MONDELEZ INTL INC COMMON 609207105 527,911 17,244 X X 14,407 0 2,837 NATIONAL OILWELL VARC COMMON 637071101 214,373 3,030 X 3,030 0 0 NESTLE S A REG ADR COMMON 641069406 557,131 7,685 X 7,685 0 0 NETAPP INC COM COMMON 64110D104 757,498 22,175 X X 11,450 0 10,725 NEXTERA ENERGY INC CO COMMON 65339F101 1,336,407 17,204 X 16,200 0 1,004 NIKE INC CL B COMMON 654106103 7,786,251 131,948 X X 99,058 0 32,890 NOBLE CORPORATION COMMON H5833N103 3,640,655 95,430 X X 79,175 0 16,255 NOBLE ENERGY COMMON 655044105 1,402,378 12,125 X X 7,275 0 4,850 NORDSTROM INC COMMON 655664100 6,685,757 121,053 X 97,753 0 23,300 NORFOLK SOUTHERN CORP COMMON 655844108 3,024,928 39,244 X X 26,369 0 12,875 NORTHEAST UTILITIES COMMON 664397106 223,297 5,138 X 2,040 0 3,098 NOVARTIS AG SPONSORED COMMON 66987V109 11,153,904 156,568 X X 109,253 0 47,315 OGE ENERGY CORP COMMON 670837103 216,938 3,100 X 0 0 3,100 OMNICOM GROUP COMMON 681919106 385,206 6,540 X 5,290 0 1,250 ONEOK INC NEW COM COMMON 682680103 328,923 6,900 X 2,000 0 4,900 ORACLE SYS CORP COMMON 68389X105 1,781,383 55,100 X X 43,650 0 11,450 PENTAIR LTD SHS COMMON H6169Q108 299,356 5,675 X X 2,375 0 3,300 PEPSICO INC COMMON 713448108 13,117,704 165,816 X X 119,796 0 46,020 PFIZER INC COMMON 717081103 6,450,383 223,506 X X 201,440 0 22,066 PHILIP MORRIS INTL IN COMMON 718172109 3,349,496 36,129 X X 28,828 0 7,301 PHILLIPS 66 COM COMMON 718546104 841,529 12,027 X 11,111 0 916 PIEDMONT NAT GAS INC COMMON 720186105 509,640 15,500 X 8,000 0 7,500 PIMCO TOTAL RET FDS MUTUAL 693390429 164,387 14,625 X 14,625 0 0 PIONEER NATURAL RES C COMMON 723787107 284,036 2,286 X 1,000 0 1,286 PLUM CREEK TIMBER CO. COMMON 729251108 2,092,385 40,084 X X 17,589 0 22,495 PNC FINANCIAL CORP COMMON 693475105 416,091 6,257 X 6,005 0 252 PPG INDUSTRIES INC COMMON 693506107 1,876,365 14,009 X X 13,509 0 500 PPL CORP COMMON 69351T106 422,716 13,501 X 11,001 0 2,500 PRAXAIR INC COMMON 74005P104 6,824,129 61,181 X X 47,381 0 13,800 PROCTER & GAMBLE CO COMMON 742718109 10,095,091 131,003 X X 114,614 0 16,389 QNB CORP COMMON 74726N107 382,176 15,924 X 15,924 0 0 QUALCOMM INC COMMON 747525103 12,760,504 190,626 X X 127,776 0 62,850 RANGE RES CORP COM COMMON 75281A109 441,668 5,450 X 4,950 0 500 RAYMOND JAMES FINANCI COMMON 754730109 3,043,753 66,025 X X 30,575 0 35,450 RAYONIER INC COM COMMON 754907103 366,971 6,150 X 6,150 0 0 RIVERBED TECHNOLOGY I COMMON 768573107 1,593,426 106,798 X X 61,998 0 44,800 ROBERT HALF INTL INC COMMON 770323103 7,223,925 192,484 X X 145,624 0 46,860 ROCHE HLDG LTD ADR COMMON 771195104 7,682,371 131,671 X 99,016 0 32,655 ROYAL DUTCH SHELL PLC COMMON 780259206 959,611 14,727 X X 13,227 0 1,500 SCHLUMBERGER LTD COMMON 806857108 12,655,212 168,984 X X 124,704 0 44,280 SIMON PPTY GROUP INC COMMON 828806109 364,688 2,300 X 2,300 0 0 SPECTRA ENERGY CORP COMMON 847560109 4,998,259 162,545 X X 76,397 0 86,148 STARWOOD HOTELS & RES COMMON 85590A401 422,211 6,625 X 5,925 0 700 STATE STREET CORP COMMON 857477103 12,308,033 208,293 X X 148,423 0 59,870 STRYKER CORP COMMON 863667101 204,854 3,140 X 3,140 0 0 SYSCO CORP COMMON 871829107 457,034 12,995 X 10,695 0 2,300 T ROWE PRICE GROUP IN COMMON 74144T108 7,185,049 95,967 X X 66,702 0 29,265 TEVA PHARMACEUTICAL COMMON 881624209 1,084,931 27,342 X X 16,300 0 11,042 TEXAS INSTRUMENTS INC COMMON 882508104 847,085 23,875 X 23,875 0 0 THERMO FISHER SCIENTI COMMON 883556102 1,607,437 21,015 X 21,015 0 0 TOLL BROTHERS INC COMMON 889478103 201,160 5,875 X X 1,875 0 4,000 TOMPKINS FINANCIAL CO COMMON 890110109 795,202 18,808 X 18,808 0 0 TRACTOR SUPPLY CO COMMON 892356106 460,775 4,425 X X 625 0 3,800 UNILEVER N V COMMON 904784709 407,663 9,943 X 4,000 0 5,943 UNILEVER PLC SPON ADR COMMON 904767704 10,295,113 243,729 X X 168,239 0 75,490 UNION PACIFIC CORP COMMON 907818108 1,016,238 7,136 X X 1,772 0 5,364 UNITED TECHNOLOGIES C COMMON 913017109 7,406,476 79,273 X X 62,773 0 16,500 UNIVERSAL HEALTH SVCS COMMON 913903100 255,480 4,000 X 4,000 0 0 UNIVEST CORP PA COMMON 915271100 401,618 23,055 X 23,055 0 0 US BANCORP DEL PFD B PREFERR 902973155 2,702,371 113,545 X X 59,484 0 54,061 VANGUARD INDEX FDS LA MUTUAL 922908637 559,572 7,800 X 7,800 0 0 VANGUARD INDEX FDS SM MUTUAL 922908751 688,912 7,558 X 7,558 0 0 VANGUARD INDEX TR MID MUTUAL 922908629 1,354,607 14,583 X 13,213 0 1,370 VANGUARD SHORT-TERM T MUTUAL 922907100 253,005 15,902 X 15,902 0 0 VANGUARD STAR FD MODE MUTUAL 921909404 1,139,110 52,737 X 52,737 0 0 VANGUARD WINDSOR II A MUTUAL 922018304 202,778 3,525 X 3,525 0 0 VANGUARD/PRIMECAP FD MUTUAL 921936209 229,479 2,788 X 2,049 0 739 VANGUARD/WELLINGTON F MUTUAL 921935201 653,306 10,505 X 10,505 0 0 VERIZON COMMUNICATION COMMON 92343V104 2,403,731 48,906 X X 41,270 0 7,636 VERTEX PHARMACEUTICAL COMMON 92532F100 252,862 4,600 X 4,600 0 0 VISA INC COM CL A COMMON 92826C839 12,067,642 71,053 X X 45,263 0 25,790 VODAFONE GROUP PLC AD COMMON 92857W209 337,875 11,897 X 10,597 0 1,300 WAL MART STORES INC COMMON 931142103 4,584,310 61,263 X 50,258 0 11,005 WELLS FARGO & CO NEW COMMON 949746101 1,256,772 33,976 X X 21,476 0 12,500 WELLS FARGO & CO NEW PREFERR 949746879 359,160 12,000 X 10,000 0 2,000 WHIRLPOOL CORP COMMON 963320106 5,872,891 49,577 X X 31,967 0 17,610 WILLIS GROUP HOLDINGS COMMON G96666105 390,951 9,900 X X 8,400 0 1,500 XILINX INC COM COMMON 983919101 248,105 6,500 X 6,500 0 0 YUM BRANDS INC COMMON 988498101 2,820,408 39,205 X X 20,675 0 18,530

TOWER BRIDGE ADVISORS DISCRETIONARY OWNERSHIP FOR 13F AS OF DATE: 03/31/13 (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 13,042,536 122,684 119,384 3,300 A T & T INC (NEW) COMMON 00206R102 13,212,839 360,121 351,509 8,612 ABBOTT LABS COMMON 002824100 2,030,406 57,486 44,306 13,180 ABBVIE INC COM COMMON 00287Y109 2,356,921 57,796 44,616 13,180 ACCENTURE PLC COMMON G1151C101 3,971,408 52,276 47,076 5,200 AETNA U S HEALTHCARE COMMON 00817Y108 7,697,366 150,545 148,445 2,100 AIR PRODS & CHEMS INC COMMON 009158106 3,669,494 42,120 40,920 1,200 ALLETE INC NEW COMMON 018522300 251,473 5,130 5,030 100 ALTRIA GROUP INC COMMON 02209S103 755,342 21,964 13,806 8,158 AMAZON COM INC COMMON 023135106 226,517 850 850 AMERICAN EXPRESS CO. COMMON 025816109 1,188,308 17,615 17,315 300 AMERICAN SHORT TERM B MUTUAL 82524A300 186,593 18,566 18,566 AMGEN INC COMMON 031162100 1,806,021 17,618 17,618 ANADARKO PETROLEUM COMMON 032511107 5,783,156 66,131 65,631 500 APACHE CORP COMMON 037411105 290,893 3,770 3,770 APHTON CORP COMMON 03759P101 15 15,000 15,000 APPLE INC COMMON 037833100 6,175,992 13,952 13,552 400 AQUA AMERICA INC COMMON 03836W103 938,138 29,839 29,839 AUTOMATIC DATA PROCES COMMON 053015103 5,131,983 78,917 73,217 5,700 BANK OF AMERICA CORP COMMON 060505104 288,873 23,717 23,717 BAXTER INTERNATIONAL COMMON 071813109 1,213,233 16,702 16,702 BB&T CORP COMMON 054937107 2,224,076 70,853 70,053 800 BECTON DICKINSON & CO COMMON 075887109 11,896,228 124,425 120,925 3,500 BERKSHIRE HATHAWAY IN COMMON 084670702 2,339,603 22,453 22,453 BERKSHIRE HATHAWAY IN COMMON 084670108 781,400 5 5 BLACKROCK NATL MUN FD MUTUAL 09253C744 116,143 10,511 10,511 BOARDWALK PIPELINE PA COMMON 096627104 1,039,333 35,460 33,910 1,550 BOEING CO. COMMON 097023105 409,590 4,771 4,771 BP PLC ADR COMMON 055622104 1,084,922 25,618 25,618 BRISTOL MYERS SQUIBB COMMON 110122108 11,215,707 272,292 270,192 2,100 BRYN MAWR BANK CORP COMMON 117665109 640,200 27,500 27,500 CAMPBELL SOUP CO COMMON 134429109 798,336 17,600 17,600 CATERPILLAR INC COMMON 149123101 2,624,320 30,175 26,475 3,700 CENOVUS ENERGY INC CO COMMON 15135U109 2,146,058 69,250 69,250 CHEVRON CORP COMMON 166764100 11,077,232 93,227 85,622 7,605 CHUBB CORP COMMON 171232101 428,897 4,900 2,840 2,060 CISCO SYSTEMS INC COMMON 17275R102 508,271 24,325 22,725 1,600 COACH INC COM COMMON 189754104 6,743,651 134,900 133,000 1,900 COCA COLA CO. COMMON 191216100 2,017,309 49,884 49,884 COGNIZANT TECHNOLOGY COMMON 192446102 6,120,409 79,879 78,003 1,876 COLGATE PALMOLIVE CO COMMON 194162103 5,245,499 44,442 42,492 1,950 COMCAST CORP NEW A SP COMMON 20030N200 268,793 6,786 6,786 COMERICA INC COMMON 200340107 6,911,423 192,251 186,351 5,900 CONOCOPHILLIPS COMMON 20825C104 2,168,228 36,077 36,077 CONSOLIDATED EDISON I COMMON 209115104 565,504 9,266 6,960 2,306 CORNING INC COMMON 219350105 544,504 40,848 40,848 COSTCO WHOLESALE COMMON 22160K105 827,658 7,800 6,600 1,200 CVS CORP COMMON 126650100 9,161,884 166,610 158,133 8,477 DANAHER CORP SHS BEN COMMON 235851102 5,052,422 81,294 78,294 3,000 DEERE & CO. COMMON 244199105 223,548 2,600 2,600 DENTSPLY INTL INC NEW COMMON 249030107 1,659,871 39,111 39,111 DEVON ENERGY CORP NEW COMMON 25179M103 1,054,772 18,695 18,195 500 DIAGEO PLC ADR SPONSO COMMON 25243Q205 11,722,877 93,157 90,107 3,050 DIGITAL RLTY TR INC COMMON 253868103 7,947,235 118,775 115,275 3,500 DISCOVERY COMMUNICATI COMMON 25470F104 389,763 4,950 3,350 1,600 DISNEY WALT COMPANY COMMON 254687106 1,504,234 26,483 24,883 1,600 DODGE & COX INCOME FD MUTUAL 256210105 221,407 16,009 16,009 DOMINION RES INC VA N COMMON 25746U109 1,824,408 31,358 26,658 4,700 DU PONT E I DE NEMOUR COMMON 263534109 9,211,502 187,378 180,778 6,600 DUKE ENERGY CORPORATI COMMON 26441C204 813,988 11,213 9,271 1,942 DWS CORE FIXED I NCOM MUTUAL 23339E863 102,687 10,228 10,228 E M C CORP MASS COMMON 268648102 8,791,544 368,001 363,801 4,200 EATON VANCE NATL MUNS MUTUAL 27826L249 117,519 11,465 11,465 ECHO THERAPEUTICS INC COMMON 27876L107 21,330 27,000 27,000 ECOLAB INC COMMON 278865100 575,692 7,180 7,180 EMERSON ELECTRIC CO COMMON 291011104 10,269,521 183,811 175,811 8,000 ENTERPRISE PRODS PART COMMON 293792107 5,624,905 93,297 91,197 2,100 EOG RESOURCES INC COMMON 26875P101 240,772 1,880 1,880 EQT CORP COM COMMON 26884L109 460,700 6,800 6,800 EXPRESS SCRIPTS COMMON 30219G108 7,276,887 126,291 124,576 1,715 EXXON MOBIL COMMON 30231G102 29,760,424 330,268 320,969 9,299 FACEBOOK INC CL A COMMON 30303M102 2,293,580 89,663 89,663 FEDEX CORP COMMON 31428X106 5,650,723 57,543 56,543 1,000 FIDELITY ADVISOR SER MUTUAL 315807552 103,470 10,368 10,368 FLUOR CORP NEW COM COMMON 343412102 2,333,158 35,175 33,225 1,950 FRANKLIN RESOURCES IN COMMON 354613101 717,856 4,760 4,760 FULTON FINL CORP PA COMMON 360271100 281,970 24,100 24,100 GENERAL ELECTRIC CO COMMON 369604103 12,870,257 556,672 530,825 25,847 GENERAL MILLS INC COMMON 370334104 1,681,471 34,100 34,100 GENESEE & WYO INC CL COMMON 371559105 437,431 4,698 4,698 GLAXOSMITHKLINE PLC A COMMON 37733W105 1,429,160 30,466 29,066 1,400 GOLDMAN SACHS GROUP I PREFERR 38143Y665 7,031,203 299,455 294,855 4,600 GOLDMAN SACHS GROUP I PREFERR 38144G804 1,797,218 75,800 75,800 GOOGLE INC CL A COMMON 38259P508 14,381,950 18,109 17,659 450 HALLIBURTON CO. COMMON 406216101 801,734 19,840 16,740 3,100 HCP INC COMMON 40414L109 402,570 8,074 6,474 1,600 HEINZ H J CO. COMMON 423074103 711,860 9,850 8,850 1,000 HERSHEY FOODS CORP COMMON 427866108 996,529 11,385 11,385 HOME DEPOT INC COMMON 437076102 1,623,571 23,267 21,267 2,000 HONEYWELL INTL INC COMMON 438516106 285,727 3,792 3,792 HSBC USA INC NEW PFD PREFERR 40428H888 810,189 33,300 33,300 HUDSON CITY BANCORP C COMMON 443683107 127,008 14,700 14,700 ILLINOIS TOOL WORKS I COMMON 452308109 2,284,214 37,483 35,683 1,800 INGERSOLL-RAND PLC COMMON G47791101 236,543 4,300 4,300 INGREDION INC COM COMMON 457187102 226,579 3,133 3,133 INT'L BUSINESS MACHIN COMMON 459200101 16,762,394 78,586 75,986 2,600 INTEL CORP COMMON 458140100 1,922,135 88,030 73,450 14,580 ISHARES TR S&P MIDCAP MUTUAL 464287507 276,628 2,404 2,404 J P MORGAN CHASE & CO COMMON 46625H100 10,214,958 215,233 204,568 10,665 JOHNSON CONTROLS INC COMMON 478366107 10,671,591 304,294 292,794 11,500 JOHNSON & JOHNSON COMMON 478160104 15,983,416 196,043 184,833 11,210 JPMORGAN CHASE & CO PREFERR 46625H621 1,647,132 63,400 63,400 KBR INC COM COMMON 48242W106 1,092,966 34,070 34,070 KELLOGG CO. COMMON 487836108 550,619 8,546 8,546 KEYCORP NEW COMMON 493267108 8,770,856 880,608 867,508 13,100 KIMBERLY CLARK CORP COMMON 494368103 2,735,112 27,915 27,915 KINDER MORGAN EGY PTN COMMON 494550106 4,680,338 52,137 48,019 4,118 KRAFT FOODS GROUP INC COMMON 50076Q106 300,574 5,833 5,349 484 LINCOLN NATL CORP COMMON 534187109 246,206 7,550 7,550 LONGLEAF PARTNERS FDS MUTUAL 543069405 375,948 24,980 24,980 LONGLEAF PARTNERS FDS MUTUAL 543069108 636,588 21,609 21,609 LONGLEAF PARTNERS FDS MUTUAL 543069207 292,306 9,030 9,030 LOWE'S COS INC COMMON 548661107 2,377,963 62,710 56,210 6,500 L-3 COMMUNICATIONS HO COMMON 502424104 424,830 5,250 4,900 350 MAGELLAN MIDSTREAM PA COMMON 559080106 971,892 18,190 18,190 MAIRS & PWR FDS TR CO MUTUAL 56064V205 249,346 2,653 2,653 MCDONALD'S CORP COMMON 580135101 8,818,378 88,458 87,858 600 MEDTRONIC INC COMMON 585055106 629,781 13,411 13,411 MERCK & COMPANY COMMON 58933Y105 2,632,640 59,562 51,812 7,750 METLIFE INC PFD A FLT PREFERR 59156R504 5,840,476 231,949 229,849 2,100 MICROSOFT CORP COMMON 594918104 4,687,360 163,865 158,865 5,000 MONDELEZ INTL INC COMMON 609207105 527,911 17,244 15,791 1,453 NATIONAL OILWELL VARC COMMON 637071101 214,373 3,030 3,030 NESTLE S A REG ADR COMMON 641069406 557,131 7,685 7,685 NETAPP INC COM COMMON 64110D104 757,498 22,175 20,175 2,000 NEXTERA ENERGY INC CO COMMON 65339F101 1,336,407 17,204 17,204 NIKE INC CL B COMMON 654106103 7,786,251 131,948 128,148 3,800 NOBLE CORPORATION COMMON H5833N103 3,640,655 95,430 94,305 1,125 NOBLE ENERGY COMMON 655044105 1,402,378 12,125 11,325 800 NORDSTROM INC COMMON 655664100 6,685,757 121,053 121,053 NORFOLK SOUTHERN CORP COMMON 655844108 3,024,928 39,244 37,894 1,350 NORTHEAST UTILITIES COMMON 664397106 223,297 5,138 5,138 NOVARTIS AG SPONSORED COMMON 66987V109 11,153,904 156,568 153,868 2,700 OGE ENERGY CORP COMMON 670837103 216,938 3,100 3,100 OMNICOM GROUP COMMON 681919106 385,206 6,540 6,540 ONEOK INC NEW COM COMMON 682680103 328,923 6,900 6,900 ORACLE SYS CORP COMMON 68389X105 1,781,383 55,100 44,400 10,700 PENTAIR LTD SHS COMMON H6169Q108 299,356 5,675 4,950 725 PEPSICO INC COMMON 713448108 13,117,704 165,816 154,816 11,000 PFIZER INC COMMON 717081103 6,450,383 223,506 206,966 16,540 PHILIP MORRIS INTL IN COMMON 718172109 3,349,496 36,129 30,578 5,551 PHILLIPS 66 COM COMMON 718546104 841,529 12,027 12,027 PIEDMONT NAT GAS INC COMMON 720186105 509,640 15,500 15,500 PIMCO TOTAL RET FDS MUTUAL 693390429 164,387 14,625 14,625 PIONEER NATURAL RES C COMMON 723787107 284,036 2,286 2,286 PLUM CREEK TIMBER CO. COMMON 729251108 2,092,385 40,084 39,284 800 PNC FINANCIAL CORP COMMON 693475105 416,091 6,257 6,257 PPG INDUSTRIES INC COMMON 693506107 1,876,365 14,009 13,509 500 PPL CORP COMMON 69351T106 422,716 13,501 13,501 PRAXAIR INC COMMON 74005P104 6,824,129 61,181 60,281 900 PROCTER & GAMBLE CO COMMON 742718109 10,095,091 131,003 122,621 8,382 QNB CORP COMMON 74726N107 382,176 15,924 15,924 QUALCOMM INC COMMON 747525103 12,760,504 190,626 184,426 6,200 RANGE RES CORP COM COMMON 75281A109 441,668 5,450 5,450 RAYMOND JAMES FINANCI COMMON 754730109 3,043,753 66,025 64,000 2,025 RAYONIER INC COM COMMON 754907103 366,971 6,150 6,150 RIVERBED TECHNOLOGY I COMMON 768573107 1,593,426 106,798 99,548 7,250 ROBERT HALF INTL INC COMMON 770323103 7,223,925 192,484 191,159 1,325 ROCHE HLDG LTD ADR COMMON 771195104 7,682,371 131,671 131,671 ROYAL DUTCH SHELL PLC COMMON 780259206 959,611 14,727 13,527 1,200 SCHLUMBERGER LTD COMMON 806857108 12,655,212 168,984 164,284 4,700 SIMON PPTY GROUP INC COMMON 828806109 364,688 2,300 2,300 SPECTRA ENERGY CORP COMMON 847560109 4,998,259 162,545 156,797 5,748 STARWOOD HOTELS & RES COMMON 85590A401 422,211 6,625 6,625 STATE STREET CORP COMMON 857477103 12,308,033 208,293 200,793 7,500 STRYKER CORP COMMON 863667101 204,854 3,140 3,140 SYSCO CORP COMMON 871829107 457,034 12,995 12,995 T ROWE PRICE GROUP IN COMMON 74144T108 7,185,049 95,967 93,967 2,000 TEVA PHARMACEUTICAL COMMON 881624209 1,084,931 27,342 25,100 2,242 TEXAS INSTRUMENTS INC COMMON 882508104 847,085 23,875 23,875 THERMO FISHER SCIENTI COMMON 883556102 1,607,437 21,015 21,015 TOLL BROTHERS INC COMMON 889478103 201,160 5,875 1,675 4,200 TOMPKINS FINANCIAL CO COMMON 890110109 795,202 18,808 18,808 TRACTOR SUPPLY CO COMMON 892356106 460,775 4,425 4,100 325 UNILEVER N V COMMON 904784709 407,663 9,943 9,943 UNILEVER PLC SPON ADR COMMON 904767704 10,295,113 243,729 236,579 7,150 UNION PACIFIC CORP COMMON 907818108 1,016,238 7,136 4,148 2,988 UNITED TECHNOLOGIES C COMMON 913017109 7,406,476 79,273 74,273 5,000 UNIVERSAL HEALTH SVCS COMMON 913903100 255,480 4,000 4,000 UNIVEST CORP PA COMMON 915271100 401,618 23,055 23,055 US BANCORP DEL PFD B PREFERR 902973155 2,702,371 113,545 109,745 3,800 VANGUARD INDEX FDS LA MUTUAL 922908637 559,572 7,800 7,800 VANGUARD INDEX FDS SM MUTUAL 922908751 688,912 7,558 7,558 VANGUARD INDEX TR MID MUTUAL 922908629 1,354,607 14,583 14,583 VANGUARD SHORT-TERM T MUTUAL 922907100 253,005 15,902 15,902 VANGUARD STAR FD MODE MUTUAL 921909404 1,139,110 52,737 52,737 VANGUARD WINDSOR II A MUTUAL 922018304 202,778 3,525 3,525 VANGUARD/PRIMECAP FD MUTUAL 921936209 229,479 2,788 2,788 VANGUARD/WELLINGTON F MUTUAL 921935201 653,306 10,505 10,505 VERIZON COMMUNICATION COMMON 92343V104 2,403,731 48,906 45,209 3,697 VERTEX PHARMACEUTICAL COMMON 92532F100 252,862 4,600 4,600 VISA INC COM CL A COMMON 92826C839 12,067,642 71,053 66,853 4,200 VODAFONE GROUP PLC AD COMMON 92857W209 337,875 11,897 11,897 WAL MART STORES INC COMMON 931142103 4,584,310 61,263 61,263 WELLS FARGO & CO NEW COMMON 949746101 1,256,772 33,976 21,476 12,500 WELLS FARGO & CO NEW PREFERR 949746879 359,160 12,000 12,000 WHIRLPOOL CORP COMMON 963320106 5,872,891 49,577 47,577 2,000 WILLIS GROUP HOLDINGS COMMON G96666105 390,951 9,900 8,900 1,000 XILINX INC COM COMMON 983919101 248,105 6,500 6,500 YUM BRANDS INC COMMON 988498101 2,820,408 39,205 35,325 3,880