-----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, E6kETPVtHnHNpsCxSK5OBwprDOSGLwkeEMBpm5N23P2B92LNOXWNra0W8HqvYf7w wP9qs2x7DDuWVZjO8udagw== 0001278249-08-000002.txt : 20080207 0001278249-08-000002.hdr.sgml : 20080207 20080207103019 ACCESSION NUMBER: 0001278249-08-000002 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20071231 FILED AS OF DATE: 20080207 DATE AS OF CHANGE: 20080207 EFFECTIVENESS DATE: 20080207 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: 08583432 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 sec13f123107final.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, 2007 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 7, 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: 262 Form 13f Information Table Value Total: $605,129,258 List of Other Included Managers: None TOWER BRIDGE ADVISORS DISCRETIONARY OWNERSHIP FOR 13F
AS OF DATE: 12/31/07 (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 5,816,206 68,978 X X 58,928 0 10,050 A T & T INC (NEW) COMMON 00206R102 4,657,518 112,067 X X 106,045 0 6,022 ABBOTT LABS COMMON 002824100 2,712,157 48,302 X X 42,942 0 5,360 ACCENTURE LTD CL A COMMON G1150G111 7,130,697 197,910 X X 116,185 0 81,725 AFLAC INC COMMON 001055102 438,347 6,999 X 6,999 0 0 AIM INVT SECS FDS INC MUTUAL 00142C805 70,676 16,591 X 16,591 0 0 AIR PRODS & CHEMS INC COMMON 009158106 6,889,897 69,856 X X 65,956 0 3,900 ALCOA INC COMMON 013817101 1,944,180 53,192 X X 51,116 0 2,076 ALLETE INC NEW COMMON 018522300 496,412 12,542 X X 12,442 0 100 ALLIANCEBERNSTEIN HOL COMMON 01881G106 793,888 10,550 X 10,550 0 0 ALLSTATE CORP COMMON 020002101 1,056,407 20,226 X X 17,276 0 2,950 ALTRIA GROUP INC COMMON 02209S103 3,566,393 47,187 X X 40,602 0 6,585 AMDOCS LTD ORD COMMON G02602103 6,667,015 193,415 X X 114,915 0 78,500 AMERICAN EXPRESS CO. COMMON 025816109 1,918,081 36,872 X X 25,315 0 11,557 AMERICAN INTL GROUP I COMMON 026874107 10,407,702 178,520 X X 118,672 0 59,848 AMGEN INC COMMON 031162100 1,369,098 29,481 X X 23,730 0 5,751 ANADARKO PETROLEUM COMMON 032511107 1,076,659 16,390 X 6,150 0 10,240 ANHEUSER BUSCH COS IN COMMON 035229103 326,392 6,236 X 5,262 0 974 APACHE CORP COMMON 037411105 5,545,623 51,568 X X 28,703 0 22,865 APHTON CORP COMMON 03759P101 5 15,000 X 0 0 15,000 APPLE COMPUTER INC COMMON 037833100 802,224 4,050 X 3,850 0 200 AQUA AMERICA INC COMMON 03836W103 674,414 31,812 X 26,237 0 5,575 AUTOMATIC DATA PROCES COMMON 053015103 275,863 6,195 X X 5,195 0 1,000 BANK OF AMERICA CORP COMMON 060505104 9,493,427 230,088 X X 176,027 0 54,061 BAXTER INTERNATIONAL COMMON 071813109 1,123,268 19,350 X 19,350 0 0 BECKMAN COULTER INC COMMON 075811109 948,584 13,030 X 13,030 0 0 BECTON DICKINSON & CO COMMON 075887109 664,461 7,950 X X 6,350 0 1,600 BED BATH & BEYOND INC COMMON 075896100 374,723 12,750 X 4,300 0 8,450 BERKSHIRE HATHAWAY (B COMMON 084670207 795,648 168 X 148 0 20 BEST BUY INC COMMON 086516101 1,127,500 21,415 X 14,990 0 6,425 BJ SERVICES COMMON 055482103 455,482 18,775 X 18,425 0 350 BLACKROCK INSD MUN TE MUTUAL 092474105 168,300 17,000 X 17,000 0 0 BLACKROCK WORLD INVT COMMON 09250K103 175,894 10,167 X 5,167 0 5,000 BOEING CO. COMMON 097023105 983,480 11,245 X X 2,893 0 8,352 BP PLC ADR COMMON 055622104 5,512,262 75,335 X X 68,481 0 6,854 BRIDGEWAY FD INC SMCA MUTUAL 108747825 196,865 11,393 X 11,393 0 0 BRIDGEWAY FD INC ULTR MUTUAL 108747403 190,907 10,737 X 10,737 0 0 BRISTOL MYERS SQUIBB COMMON 110122108 1,380,525 52,056 X 49,656 0 2,400 BRYN MAWR BANK CORP COMMON 117665109 301,759 13,160 X 0 0 13,160 BURLINGTON NORTHN SAN COMMON 12189T104 3,023,996 36,333 X 35,758 0 575 CALIPER LIFE SCIENCES COMMON 130872104 55,300 10,000 X 10,000 0 0 CAMPBELL SOUP CO COMMON 134429109 628,848 17,600 X 17,600 0 0 CARNIVAL CORP PAIRED COMMON 143658300 264,716 5,950 X X 4,550 0 1,400 CATERPILLAR INC COMMON 149123101 1,491,834 20,560 X 15,410 0 5,150 CHEVRONTEXACO CORP COMMON 166764100 6,454,788 69,161 X X 60,154 0 9,007 CHICO'S FAS INC COMMON 168615102 140,868 15,600 X 2,900 0 12,700 CHUBB CORP COMMON 171232101 360,228 6,600 X 3,500 0 3,100 CIGNA CORP COMMON 125509109 546,273 10,167 X 10,167 0 0 CISCO SYSTEMS INC COMMON 17275R102 9,505,650 351,152 X X 216,544 0 134,608 CITIGROUP INC COMMON 172967101 2,420,892 82,231 X X 70,500 0 11,731 CLOROX CO COMMON 189054109 451,693 6,931 X 6,931 0 0 COCA COLA CO. COMMON 191216100 1,890,196 30,800 X 27,286 0 3,514 COLGATE PALMOLIVE CO COMMON 194162103 7,022,155 90,074 X X 41,401 0 48,673 COMCAST CORP NEW A SP COMMON 20030N200 5,684,226 313,699 X X 134,199 0 179,500 COMCAST CORP NEW CL A COMMON 20030N101 1,930,958 105,748 X X 89,629 0 16,119 COMMERCE BANCORP INC COMMON 200519106 469,551 12,311 X 311 0 12,000 CONCURRENT COMPUTER C COMMON 206710204 90,856 109,465 X 108,768 0 697 CONOCOPHILLIPS COMMON 20825C104 6,436,275 72,891 X X 41,061 0 31,830 CONSOL ENERGY INC COM COMMON 20854P109 2,145,600 30,000 X 30,000 0 0 CONSOLIDATED EDISON I COMMON 209115104 217,236 4,447 X X 2,141 0 2,306 CONSTELLATION BRANDS COMMON 21036P108 203,304 8,600 X 8,600 0 0 CONSTELLATION ENERGY COMMON 210371100 221,102 2,156 X X 706 0 1,450 CORNING INC COMMON 219350105 6,361,020 265,153 X 185,753 0 79,400 COSTCO WHOLESALE COMMON 22160K105 3,046,711 43,674 X X 17,235 0 26,439 CSX CORP COMMON 126408103 338,646 7,700 X 7,700 0 0 CULLEN FROST BANKERS COMMON 229899109 1,192,536 23,540 X 6,600 0 16,940 CVS CORP COMMON 126650100 9,843,156 247,627 X X 141,092 0 106,535 DAKTRONICS INC COM COMMON 234264109 454,786 20,150 X 14,950 0 5,200 DEERE & CO. COMMON 244199105 201,139 2,160 X 2,000 0 160 DELTA PETE CORP COM N COMMON 247907207 224,315 11,900 X 11,900 0 0 DENTSPLY INTL INC NEW COMMON 249030107 7,142,028 158,641 X X 48,970 0 109,671 DEVON ENERGY CORP NEW COMMON 25179M103 6,042,946 67,967 X X 44,122 0 23,845 DISNEY WALT COMPANY COMMON 254687106 428,452 13,273 X X 9,425 0 3,848 DOMINION RES INC VA N COMMON 25746U109 1,776,623 37,442 X X 33,242 0 4,200 DONNELLEY R R & SONS COMMON 257867101 281,163 7,450 X X 6,450 0 1,000 DOW CHEMICAL CORP COMMON 260543103 209,478 5,314 X 5,314 0 0 DU PONT E I DE NEMOUR COMMON 263534109 2,438,530 55,308 X X 46,233 0 9,075 DUKE ENERGY CORP COMMON 26441C105 1,118,346 55,446 X X 51,750 0 3,696 DUKE REALTY CORP NEW COMMON 264411505 250,368 9,600 X X 6,800 0 2,800 E M C CORP MASS COMMON 268648102 4,501,771 242,945 X X 152,945 0 90,000 EBAY INC COMMON 278642103 919,363 27,700 X 24,700 0 3,000 ECOLAB INC COMMON 278865100 204,840 4,000 X 0 0 4,000 EMERSON ELECTRIC CO COMMON 291011104 2,570,664 45,370 X X 36,073 0 9,297 ENCANA CORP COMMON 292505104 1,171,698 17,241 X 2,050 0 15,191 ENSCO INTL INC COMMON 26874Q100 357,720 6,000 X 6,000 0 0 ENTERGY CORP NEW COMMON 29364G103 418,320 3,500 X 3,500 0 0 ENTERPRISE PRODS PART COMMON 293792107 1,841,278 57,757 X X 21,370 0 36,386 EQUITABLE RESOURCES I COMMON 294549100 456,716 8,572 X 0 0 8,572 EXELON CORP COMMON 30161N101 667,162 8,172 X X 7,072 0 1,100 EXXON MOBIL COMMON 30231G102 37,791,327 403,366 X X 325,578 0 77,787 FEDERATED GOVT INCOME MUTUAL 313912107 126,439 14,239 X 14,239 0 0 FEDEX CORP COMMON 31428X106 9,086,007 101,895 X X 61,999 0 39,896 FORTUNE BRANDS INC COMMON 349631101 609,705 8,426 X X 7,326 0 1,100 FPL GROUP INC COMMON 302571104 1,516,713 22,377 X 20,777 0 1,600 FRANKLIN RESOURCES IN COMMON 354613101 7,346,810 64,204 X X 25,453 0 38,751 FRANKLIN TAX FREE TR MUTUAL 354723801 429,211 41,671 X 41,671 0 0 FREEPORT MCMORAN COPP COMMON 35671D857 399,516 3,900 X 3,900 0 0 GENENTECH INC NEW COMMON 368710406 228,038 3,400 X 500 0 2,900 GENERAL DYNAMICS CORP COMMON 369550108 252,982 2,843 X 2,403 0 440 GENERAL ELECTRIC CO COMMON 369604103 27,810,343 750,212 X X 526,135 0 224,076 GENERAL MILLS INC COMMON 370334104 1,054,443 18,499 X 16,049 0 2,450 GENWORTH FINL INC COM COMMON 37247D106 676,970 26,600 X X 26,150 0 450 GILEAD SCIENCES INC COMMON 375558103 1,055,009 22,930 X 18,160 0 4,770 GLAXOSMITHKLINE PLC A COMMON 37733W105 2,102,198 41,719 X X 32,920 0 8,799 GOLDMAN SACHS GROUP I COMMON 38141G104 376,338 1,750 X 1,400 0 350 GOLDMAN SACHS GROUP I PREFERR 38143Y665 2,850,201 134,825 X X 113,725 0 21,100 GOODRICH CORPORATION COMMON 382388106 289,501 4,100 X 4,100 0 0 GOOGLE INC CL A COMMON 38259P508 767,543 1,110 X 955 0 155 HALLIBURTON CO. COMMON 406216101 932,586 24,600 X 24,600 0 0 HARBOR INTERNATIONAL MUTUAL 411511306 1,093,325 15,321 X 15,321 0 0 HARLEY DAVIDSON INC COMMON 412822108 442,344 9,470 X X 8,470 0 1,000 HARMAN INTL INDS INC COMMON 413086109 333,538 4,525 X 2,225 0 2,300 HARRIS CORP DEL COMMON 413875105 379,214 6,050 X X 4,850 0 1,200 HARTFORD FINL SVCS GR COMMON 416515104 374,917 4,300 X 4,300 0 0 HCP INC COMMON 40414L109 298,169 8,573 X X 4,088 0 4,485 HEINZ H J CO. COMMON 423074103 335,162 7,180 X X 2,580 0 4,600 HELMERICH & PAYNE COMMON 423452101 2,230,697 55,670 X 19,970 0 35,700 HERSHEY FOODS CORP COMMON 427866108 367,917 9,338 X 2,800 0 6,538 HEWLETT PACKARD CO. COMMON 428236103 536,943 10,637 X 6,270 0 4,367 HOME DEPOT INC COMMON 437076102 661,438 24,552 X X 23,362 0 1,190 HONEYWELL INTL INC COMMON 438516106 1,448,126 23,520 X 4,218 0 19,302 HSBC HLDGS PLC ADR SP COMMON 404280406 852,866 10,188 X 10,188 0 0 ILLINOIS TOOL WORKS I COMMON 452308109 8,508,041 158,910 X X 97,109 0 61,801 IMS HEALTH INC COM COMMON 449934108 268,762 11,665 X 11,665 0 0 INGERSOLL-RAND COMPAN COMMON G4776G101 998,176 21,480 X X 20,280 0 1,200 INT'L BUSINESS MACH. COMMON 459200101 7,675,520 71,004 X X 54,547 0 16,457 INTEL CORP COMMON 458140100 12,483,408 468,245 X X 340,023 0 128,222 ISHARES INC MSCI JAPA MUTUAL 464286848 642,572 48,350 X 47,750 0 600 ISHARES TR MSCI EMERG MUTUAL 464287234 1,903,700 12,666 X X 9,426 0 3,240 ISHARES TR RUSSL 2000 MUTUAL 464287655 554,216 7,300 X 3,700 0 3,600 ISHARES TR S&P 500 IN MUTUAL 464287200 332,513 2,266 X 0 0 2,266 ISHARES TR US TIPS BD MUTUAL 464287176 223,238 2,110 X 2,110 0 0 J P MORGAN CHASE & CO COMMON 46625H100 2,360,592 54,080 X X 50,061 0 4,019 JOHNSON CONTROLS INC COMMON 478366107 457,708 12,700 X X 8,800 0 3,900 JOHNSON & JOHNSON COMMON 478160104 21,680,108 325,039 X X 239,913 0 85,126 JULIUS BAER INVT FDS MUTUAL 481370500 533,244 11,935 X 11,935 0 0 KELLOGG CO. COMMON 487836108 432,285 8,245 X 0 0 8,245 KIMBERLY CLARK CORP COMMON 494368103 1,663,675 23,993 X 21,293 0 2,700 KIMCO RLTY CORP COMMON 49446R109 201,620 5,539 X 5,539 0 0 KINDER MORGAN EGY PTN COMMON 494550106 624,934 11,575 X 3,825 0 7,750 KOHLS CORP COMMON 500255104 2,615,638 57,110 X 51,535 0 5,575 KONINKLIJKE PHILIPS E COMMON 500472303 415,915 9,729 X 9,729 0 0 KRAFT FOODS INC CL A COMMON 50075N104 738,515 22,633 X X 19,394 0 3,239 LEGG MASON INC COMMON 524901105 1,028,123 14,055 X 9,175 0 4,880 LEHMAN BROTHERS HLDGS COMMON 524908100 1,424,956 21,775 X X 20,625 0 1,150 LIFECELL CORP COM COMMON 531927101 797,535 18,500 X 18,500 0 0 LILLY, ELI AND COMPAN COMMON 532457108 423,899 7,940 X 6,261 0 1,679 LINCOLN NATL CORP COMMON 534187109 979,726 16,828 X X 15,807 0 1,021 LOEWS CORP COMMON 540424108 1,067,208 21,200 X 21,200 0 0 LOWE'S COS INC COMMON 548661107 482,937 21,350 X 9,800 0 11,550 L-3 COMMUNICATIONS HO COMMON 502424104 9,332,996 88,097 X X 39,672 0 48,425 MAGELLAN MIDSTREAM PA COMMON 559080106 316,528 7,300 X 3,900 0 3,400 MARATHON OIL CORP COMMON 565849106 491,992 8,084 X 8,084 0 0 MCDONALD'S CORP COMMON 580135101 3,647,784 61,921 X 34,558 0 27,363 MCGRAW-HILL COMPANIES COMMON 580645109 262,816 5,999 X 5,999 0 0 MEDTRONIC INC COMMON 585055106 10,366,945 206,225 X X 134,325 0 71,900 MERCK & CO. INC COMMON 589331107 2,182,400 37,556 X 34,760 0 2,797 MERITOR SVGS BK PA COMMON 590007100 92,000 23,000 X 2,000 0 21,000 MERRILL LYNCH & CO. I COMMON 590188108 1,973,024 36,755 X X 17,115 0 19,640 METLIFE INC COMMON 59156R108 1,109,160 18,000 X X 15,300 0 2,700 MICROSOFT CORP COMMON 594918104 13,586,285 381,637 X X 237,885 0 143,752 MOLEX INC COMMON 608554101 6,501,222 238,140 X X 139,430 0 98,710 MORGAN STANLEY NEW COMMON 617446448 255,565 4,812 X 4,336 0 476 MOTOROLA INC COMMON 620076109 296,932 18,512 X 14,250 0 4,262 NABORS INDUSTRIES COMMON G6359F103 2,573,427 93,955 X 67,855 0 26,100 NCR CORP NEW COMMON 62886E108 258,530 10,300 X 10,300 0 0 NESTLE S A REG ADR COMMON 641069406 242,399 2,111 X 2,111 0 0 NOBLE CORP COMMON G65422100 11,906,092 210,690 X X 132,930 0 77,760 NOBLE ENERGY COMMON 655044105 413,504 5,200 X 0 0 5,200 NOKIA CORP ADR COMMON 654902204 3,887,478 101,263 X X 50,838 0 50,425 NORDSTROM INC COMMON 655664100 2,131,442 58,030 X X 27,630 0 30,400 NORFOLK SOUTHERN CORP COMMON 655844108 1,945,471 38,570 X 36,420 0 2,150 NOVARTIS AG SPONSORED COMMON 66987V109 3,913,597 72,060 X 42,125 0 29,935 NVIDIA CORP COMMON 67066G104 255,150 7,500 X 0 0 7,500 OCCIDENTAL PETE CORP COMMON 674599105 1,110,966 14,430 X 14,430 0 0 OMNICOM GROUP COMMON 681919106 3,923,364 82,545 X X 44,965 0 37,580 OPTIONSXPRESS HLDGS I COMMON 684010101 1,278,396 37,800 X X 0 0 37,800 ORACLE SYS CORP COMMON 68389X105 1,327,704 58,800 X 58,750 0 50 PACCAR INC COMMON 693718108 245,160 4,500 X 4,500 0 0 PARKER HANNIFIN CORP COMMON 701094104 303,123 4,025 X 4,025 0 0 PEABODY ENERGY CORP COMMON 704549104 246,560 4,000 X 4,000 0 0 PENNSYLVANIA REIT COMMON 709102107 5,560,479 187,348 X X 100,318 0 87,030 PEPSICO INC COMMON 713448108 7,875,057 103,756 X X 76,857 0 26,899 PFIZER INC COMMON 717081103 5,529,595 243,273 X X 219,309 0 23,964 PHOTOMEDEX INC COMMON 719358103 15,200 16,000 X 0 0 16,000 PLANTGENIX INC PFD B COMMON 727990251 0 100,000 X 100,000 0 0 PNC FINANCIAL CORP COMMON 693475105 596,759 9,090 X 2,889 0 6,201 PPG INDUSTRIES INC COMMON 693506107 1,340,480 19,087 X X 18,350 0 737 PPL CORP COMMON 69351T106 1,208,384 23,198 X 22,898 0 300 PRAXAIR INC COMMON 74005P104 3,460,134 39,005 X 20,710 0 18,295 PROCTER & GAMBLE CO COMMON 742718109 9,385,939 127,839 X X 104,569 0 23,270 PROGRESS ENERGY INC C COMMON 743263105 345,064 7,125 X 7,125 0 0 PROTECTED BUY-WRITE 0 PREFERR 61747S850 231,250 25,000 X 25,000 0 0 PROTECTED BUY-WRITE 1 PREFERR 61750V840 156,780 18,000 X 15,000 0 3,000 PUBLIC SVC ENTERPRISE COMMON 744573106 376,161 7,658 X 7,658 0 0 QUESTAR CORP COMMON 748356102 690,316 12,760 X X 1,400 0 11,360 RANGE RES CORP COM COMMON 75281A109 240,108 4,675 X 4,675 0 0 RAYTHEON CO NEW COMMON 755111507 1,925,708 31,725 X 31,375 0 350 REGIONS FINANCIAL COR COMMON 7591EP100 270,651 11,444 X X 7,028 0 4,416 ROHM & HAAS CO. COMMON 775371107 1,613,328 30,400 X 30,400 0 0 ROYAL DUTCH SHELL PLC COMMON 780259206 904,476 10,742 X X 9,836 0 906 SANDISK CORP COMMON 80004C101 2,346,446 70,740 X 42,890 0 27,850 SCHERING PLOUGH CORP COMMON 806605101 670,532 25,170 X 21,659 0 3,511 SCHLUMBERGER LTD COMMON 806857108 8,930,520 90,785 X X 58,395 0 32,390 SEAGATE TECHNOLOGY COMMON G7945J104 1,278,825 50,150 X 49,850 0 300 SEI INVTS CO. COMMON 784117103 8,787,718 273,165 X X 149,075 0 124,090 SIGMA ALDRICH CORP COMMON 826552101 545,672 9,994 X 9,994 0 0 ST JUDE MED INC COMMON 790849103 226,202 5,566 X 4,666 0 900 STAPLES INC COMMON 855030102 2,223,833 96,395 X X 52,530 0 43,865 STATE STREET CORP COMMON 857477103 365,562 4,502 X 3,999 0 503 STERICYCLE INC COM COMMON 858912108 427,680 7,200 X 7,200 0 0 STRATTON FDS INC SMAL MUTUAL 863137105 3,827,187 82,947 X 82,947 0 0 STRYKER CORP COMMON 863667101 231,632 3,100 X 3,100 0 0 SUNTRUST BKS INC COMMON 867914103 500,420 8,008 X 2,184 0 5,824 SYMANTEC CORP COMMON 871503108 1,838,992 113,940 X X 64,340 0 49,600 SYSCO CORP COMMON 871829107 7,157,202 229,324 X X 137,749 0 91,575 TARGET CORP COMMON 87612E106 345,750 6,915 X X 3,565 0 3,350 TELEFONICA S A ADR COMMON 879382208 545,723 5,592 X 0 0 5,592 TERADATA CORP DEL COM COMMON 88076W103 282,323 10,300 X 10,300 0 0 TEVA PHARMACEUTICAL COMMON 881624209 4,863,070 104,627 X 49,027 0 55,600 TEXAS INSTRUMENTS INC COMMON 882508104 2,303,364 68,963 X X 62,563 0 6,400 TEXAS PAC LD COMMON 882610108 246,125 5,500 X 5,500 0 0 TEXTRON INC COMMON 883203101 855,600 12,000 X X 10,800 0 1,200 THERMO ELECTRON CORP COMMON 883556102 1,853,778 32,139 X 32,139 0 0 TOLL BROTHERS INC COMMON 889478103 274,822 13,700 X X 6,100 0 7,600 TRANSOCEAN INC COM NE COMMON G90073100 11,806,288 82,475 X X 46,777 0 35,698 UBS FDS DYNAMIC ALPH MUTUAL 90262H353 104,372 10,303 X 10,303 0 0 ULTRA PETROLEUM CORP COMMON 903914109 1,792,505 25,070 X 15,370 0 9,700 UNILEVER N V COMMON 904784709 629,117 17,255 X X 7,523 0 9,732 UNION PACIFIC CORP COMMON 907818108 485,898 3,868 X 1,136 0 2,732 UNITED PARCEL SVC INC COMMON 911312106 867,593 12,268 X 12,250 0 18 UNITED TECHNOLOGIES C COMMON 913017109 4,149,636 54,215 X X 46,513 0 7,702 UNITEDHEALTH GROUP IN COMMON 91324P102 1,195,428 20,540 X X 17,700 0 2,840 US BANCORP NEW COMMON 902973304 1,783,439 56,189 X X 33,952 0 22,237 V F CORP COMMON 918204108 587,176 8,552 X X 1,751 0 6,801 VALERO ENERGY CORP COMMON 91913Y100 378,162 5,400 X 5,400 0 0 VAN KAMPEN EQUITY TR MUTUAL 92114U772 1,577,829 66,212 X 66,212 0 0 VANGUARD BD INDEX FD MUTUAL 921937868 165,895 16,328 X 16,328 0 0 VANGUARD FIXED INCOME MUTUAL 922031844 234,216 22,180 X 22,180 0 0 VANGUARD INDEX FDS TT MUTUAL 922908488 512,359 15,012 X 15,012 0 0 VANGUARD INTERM-TERM MUTUAL 922907878 620,053 46,796 X 25,358 0 21,438 VANGUARD INTL EQUITY MUTUAL 922042775 377,501 6,441 X 4,540 0 1,901 VANGUARD MUN BD FD IN MUTUAL 922907886 305,562 28,319 X 28,319 0 0 VANGUARD TAX-MANAGED MUTUAL 921943866 504,999 7,143 X 7,143 0 0 VANGUARD TAX-MANAGED MUTUAL 921943809 413,106 26,825 X 26,825 0 0 VANGUARD/WINDSOR FD I MUTUAL 922018403 303,674 5,728 X 5,728 0 0 VERIZON COMMUNICATION COMMON 92343V104 2,451,010 56,100 X X 46,100 0 10,000 VODAFONE GROUP INC COMMON 92857W209 396,786 10,632 X 10,632 0 0 VULCAN MATLS CO COM COMMON 929160109 5,440,997 68,795 X X 42,000 0 26,795 WACHOVIA CORP COMMON 929903102 3,364,812 88,478 X X 44,438 0 44,040 WAL MART STORES INC COMMON 931142103 532,336 11,200 X 9,800 0 1,400 WALGREEN COMPANY COMMON 931422109 301,441 7,916 X 6,533 0 1,383 WALLFRIN INDUSTRIES I COMMON 932495104 0 20,000 X 0 0 20,000 WELLS FARGO & CO NEW COMMON 949746101 1,889,713 62,594 X X 50,034 0 12,560 WEYERHAEUSER CO COMMON 962166104 637,851 8,650 X 4,200 0 4,450 WILLIAMS COS INC COMMON 969457100 200,368 5,600 X 5,600 0 0 WILLIS GROUP HOLDINGS COMMON G96655108 2,904,705 76,500 X X 32,150 0 44,350 WRIGLEY WM JR CO. COMMON 982526105 259,786 4,437 X 0 0 4,437 WYETH COMMON 983024100 3,087,644 69,872 X X 52,872 0 17,000 XTO ENERGY INC COM COMMON 98385X106 449,246 8,747 X 4,936 0 3,811 YUM BRANDS INC COMMON 988498101 473,630 12,376 X 12,132 0 244 ZIMMER HLDGS INC COMMON 98956P102 3,690,707 55,793 X 44,368 0 11,425
TOWER BRIDGE ADVISORS DISCRETIONARY OWNERSHIP FOR 13F AS OF DATE: 12/31/07 (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 5,816,206 68,978 67,728 1,250 A T & T INC (NEW) COMMON 00206R102 4,657,518 112,067 107,267 4,800 ABBOTT LABS COMMON 002824100 2,712,157 48,302 45,502 2,800 ACCENTURE LTD CL A COMMON G1150G111 7,130,697 197,910 196,310 1,600 AFLAC INC COMMON 001055102 438,347 6,999 6,999 AIM INVT SECS FDS INC MUTUAL 00142C805 70,676 16,591 16,591 AIR PRODS & CHEMS INC COMMON 009158106 6,889,897 69,856 69,456 400 ALCOA INC COMMON 013817101 1,944,180 53,192 51,366 1,826 ALLETE INC NEW COMMON 018522300 496,412 12,542 12,442 100 ALLIANCEBERNSTEIN HOL COMMON 01881G106 793,888 10,550 10,550 ALLSTATE CORP COMMON 020002101 1,056,407 20,226 17,276 2,950 ALTRIA GROUP INC COMMON 02209S103 3,566,393 47,187 44,437 2,750 AMDOCS LTD ORD COMMON G02602103 6,667,015 193,415 192,315 1,100 AMERICAN EXPRESS CO. COMMON 025816109 1,918,081 36,872 36,272 600 AMERICAN INTL GROUP I COMMON 026874107 10,407,702 178,520 174,720 3,800 AMGEN INC COMMON 031162100 1,369,098 29,481 29,081 400 ANADARKO PETROLEUM COMMON 032511107 1,076,659 16,390 16,390 ANHEUSER BUSCH COS IN COMMON 035229103 326,392 6,236 6,236 APACHE CORP COMMON 037411105 5,545,623 51,568 51,168 400 APHTON CORP COMMON 03759P101 5 15,000 15,000 APPLE COMPUTER INC COMMON 037833100 802,224 4,050 4,050 AQUA AMERICA INC COMMON 03836W103 674,414 31,812 31,812 AUTOMATIC DATA PROCES COMMON 053015103 275,863 6,195 5,295 900 BANK OF AMERICA CORP COMMON 060505104 9,493,427 230,088 222,447 7,641 BAXTER INTERNATIONAL COMMON 071813109 1,123,268 19,350 19,350 BECKMAN COULTER INC COMMON 075811109 948,584 13,030 13,030 BECTON DICKINSON & CO COMMON 075887109 664,461 7,950 6,550 1,400 BED BATH & BEYOND INC COMMON 075896100 374,723 12,750 12,750 BERKSHIRE HATHAWAY (B COMMON 084670207 795,648 168 168 BEST BUY INC COMMON 086516101 1,127,500 21,415 21,415 BJ SERVICES COMMON 055482103 455,482 18,775 18,775 BLACKROCK INSD MUN TE MUTUAL 092474105 168,300 17,000 17,000 BLACKROCK WORLD INVT COMMON 09250K103 175,894 10,167 10,167 BOEING CO. COMMON 097023105 983,480 11,245 3,245 8,000 BP PLC ADR COMMON 055622104 5,512,262 75,335 71,467 3,868 BRIDGEWAY FD INC SMCA MUTUAL 108747825 196,865 11,393 11,393 BRIDGEWAY FD INC ULTR MUTUAL 108747403 190,907 10,737 10,737 BRISTOL MYERS SQUIBB COMMON 110122108 1,380,525 52,056 52,056 BRYN MAWR BANK CORP COMMON 117665109 301,759 13,160 13,160 BURLINGTON NORTHN SAN COMMON 12189T104 3,023,996 36,333 36,333 CALIPER LIFE SCIENCES COMMON 130872104 55,300 10,000 10,000 CAMPBELL SOUP CO COMMON 134429109 628,848 17,600 17,600 CARNIVAL CORP PAIRED COMMON 143658300 264,716 5,950 4,550 1,400 CATERPILLAR INC COMMON 149123101 1,491,834 20,560 20,560 CHEVRONTEXACO CORP COMMON 166764100 6,454,788 69,161 66,883 2,278 CHICO'S FAS INC COMMON 168615102 140,868 15,600 15,600 CHUBB CORP COMMON 171232101 360,228 6,600 6,600 CIGNA CORP COMMON 125509109 546,273 10,167 10,167 CISCO SYSTEMS INC COMMON 17275R102 9,505,650 351,152 328,547 22,605 CITIGROUP INC COMMON 172967101 2,420,892 82,231 74,829 7,402 CLOROX CO COMMON 189054109 451,693 6,931 6,931 COCA COLA CO. COMMON 191216100 1,890,196 30,800 30,800 COLGATE PALMOLIVE CO COMMON 194162103 7,022,155 90,074 89,324 750 COMCAST CORP NEW A SP COMMON 20030N200 5,684,226 313,699 311,559 2,140 COMCAST CORP NEW CL A COMMON 20030N101 1,930,958 105,748 105,489 259 COMMERCE BANCORP INC COMMON 200519106 469,551 12,311 12,311 CONCURRENT COMPUTER C COMMON 206710204 90,856 109,465 109,465 CONOCOPHILLIPS COMMON 20825C104 6,436,275 72,891 68,778 4,113 CONSOL ENERGY INC COM COMMON 20854P109 2,145,600 30,000 30,000 CONSOLIDATED EDISON I COMMON 209115104 217,236 4,447 3,547 900 CONSTELLATION BRANDS COMMON 21036P108 203,304 8,600 8,600 CONSTELLATION ENERGY COMMON 210371100 221,102 2,156 1,906 250 CORNING INC COMMON 219350105 6,361,020 265,153 265,153 COSTCO WHOLESALE COMMON 22160K105 3,046,711 43,674 43,472 202 CSX CORP COMMON 126408103 338,646 7,700 7,700 CULLEN FROST BANKERS COMMON 229899109 1,192,536 23,540 23,540 CVS CORP COMMON 126650100 9,843,156 247,627 247,077 550 DAKTRONICS INC COM COMMON 234264109 454,786 20,150 20,150 DEERE & CO. COMMON 244199105 201,139 2,160 2,160 DELTA PETE CORP COM N COMMON 247907207 224,315 11,900 11,900 DENTSPLY INTL INC NEW COMMON 249030107 7,142,028 158,641 156,841 1,800 DEVON ENERGY CORP NEW COMMON 25179M103 6,042,946 67,967 67,417 550 DISNEY WALT COMPANY COMMON 254687106 428,452 13,273 11,873 1,400 DOMINION RES INC VA N COMMON 25746U109 1,776,623 37,442 33,242 4,200 DONNELLEY R R & SONS COMMON 257867101 281,163 7,450 6,450 1,000 DOW CHEMICAL CORP COMMON 260543103 209,478 5,314 5,314 DU PONT E I DE NEMOUR COMMON 263534109 2,438,530 55,308 51,758 3,550 DUKE ENERGY CORP COMMON 26441C105 1,118,346 55,446 52,750 2,696 DUKE REALTY CORP NEW COMMON 264411505 250,368 9,600 6,800 2,800 E M C CORP MASS COMMON 268648102 4,501,771 242,945 241,645 1,300 EBAY INC COMMON 278642103 919,363 27,700 27,700 ECOLAB INC COMMON 278865100 204,840 4,000 4,000 EMERSON ELECTRIC CO COMMON 291011104 2,570,664 45,370 43,970 1,400 ENCANA CORP COMMON 292505104 1,171,698 17,241 17,241 ENSCO INTL INC COMMON 26874Q100 357,720 6,000 6,000 ENTERGY CORP NEW COMMON 29364G103 418,320 3,500 3,500 ENTERPRISE PRODS PART COMMON 293792107 1,841,278 57,757 55,557 2,200 EQUITABLE RESOURCES I COMMON 294549100 456,716 8,572 8,572 EXELON CORP COMMON 30161N101 667,162 8,172 7,072 1,100 EXXON MOBIL COMMON 30231G102 37,791,327 403,366 395,810 7,556 FEDERATED GOVT INCOME MUTUAL 313912107 126,439 14,239 14,239 FEDEX CORP COMMON 31428X106 9,086,007 101,895 100,295 1,600 FORTUNE BRANDS INC COMMON 349631101 609,705 8,426 7,326 1,100 FPL GROUP INC COMMON 302571104 1,516,713 22,377 22,377 FRANKLIN RESOURCES IN COMMON 354613101 7,346,810 64,204 63,904 300 FRANKLIN TAX FREE TR MUTUAL 354723801 429,211 41,671 41,671 FREEPORT MCMORAN COPP COMMON 35671D857 399,516 3,900 3,900 GENENTECH INC NEW COMMON 368710406 228,038 3,400 3,400 GENERAL DYNAMICS CORP COMMON 369550108 252,982 2,843 2,843 GENERAL ELECTRIC CO COMMON 369604103 27,810,343 750,212 737,221 12,991 GENERAL MILLS INC COMMON 370334104 1,054,443 18,499 18,499 GENWORTH FINL INC COM COMMON 37247D106 676,970 26,600 26,150 450 GILEAD SCIENCES INC COMMON 375558103 1,055,009 22,930 22,930 GLAXOSMITHKLINE PLC A COMMON 37733W105 2,102,198 41,719 40,319 1,400 GOLDMAN SACHS GROUP I COMMON 38141G104 376,338 1,750 1,750 GOLDMAN SACHS GROUP I PREFERR 38143Y665 2,850,201 134,825 133,725 1,100 GOODRICH CORPORATION COMMON 382388106 289,501 4,100 4,100 GOOGLE INC CL A COMMON 38259P508 767,543 1,110 1,110 HALLIBURTON CO. COMMON 406216101 932,586 24,600 24,600 HARBOR INTERNATIONAL MUTUAL 411511306 1,093,325 15,321 15,321 HARLEY DAVIDSON INC COMMON 412822108 442,344 9,470 8,470 1,000 HARMAN INTL INDS INC COMMON 413086109 333,538 4,525 4,525 HARRIS CORP DEL COMMON 413875105 379,214 6,050 4,850 1,200 HARTFORD FINL SVCS GR COMMON 416515104 374,917 4,300 4,300 HCP INC COMMON 40414L109 298,169 8,573 4,573 4,000 HEINZ H J CO. COMMON 423074103 335,162 7,180 6,180 1,000 HELMERICH & PAYNE COMMON 423452101 2,230,697 55,670 55,670 HERSHEY FOODS CORP COMMON 427866108 367,917 9,338 9,338 HEWLETT PACKARD CO. COMMON 428236103 536,943 10,637 10,637 HOME DEPOT INC COMMON 437076102 661,438 24,552 24,452 100 HONEYWELL INTL INC COMMON 438516106 1,448,126 23,520 23,520 HSBC HLDGS PLC ADR SP COMMON 404280406 852,866 10,188 10,188 ILLINOIS TOOL WORKS I COMMON 452308109 8,508,041 158,910 156,184 2,726 IMS HEALTH INC COM COMMON 449934108 268,762 11,665 11,665 INGERSOLL-RAND COMPAN COMMON G4776G101 998,176 21,480 20,280 1,200 INT'L BUSINESS MACH. COMMON 459200101 7,675,520 71,004 68,957 2,047 INTEL CORP COMMON 458140100 12,483,408 468,245 460,745 7,500 ISHARES INC MSCI JAPA MUTUAL 464286848 642,572 48,350 48,350 ISHARES TR MSCI EMERG MUTUAL 464287234 1,903,700 12,666 12,546 120 ISHARES TR RUSSL 2000 MUTUAL 464287655 554,216 7,300 7,300 ISHARES TR S&P 500 IN MUTUAL 464287200 332,513 2,266 2,266 ISHARES TR US TIPS BD MUTUAL 464287176 223,238 2,110 2,110 J P MORGAN CHASE & CO COMMON 46625H100 2,360,592 54,080 51,626 2,454 JOHNSON CONTROLS INC COMMON 478366107 457,708 12,700 8,800 3,900 JOHNSON & JOHNSON COMMON 478160104 21,680,108 325,039 319,139 5,900 JULIUS BAER INVT FDS MUTUAL 481370500 533,244 11,935 11,935 KELLOGG CO. COMMON 487836108 432,285 8,245 8,245 KIMBERLY CLARK CORP COMMON 494368103 1,663,675 23,993 23,993 KIMCO RLTY CORP COMMON 49446R109 201,620 5,539 5,539 KINDER MORGAN EGY PTN COMMON 494550106 624,934 11,575 11,575 KOHLS CORP COMMON 500255104 2,615,638 57,110 57,110 KONINKLIJKE PHILIPS E COMMON 500472303 415,915 9,729 9,729 KRAFT FOODS INC CL A COMMON 50075N104 738,515 22,633 21,908 725 LEGG MASON INC COMMON 524901105 1,028,123 14,055 14,055 LEHMAN BROTHERS HLDGS COMMON 524908100 1,424,956 21,775 21,375 400 LIFECELL CORP COM COMMON 531927101 797,535 18,500 18,500 LILLY, ELI AND COMPAN COMMON 532457108 423,899 7,940 7,940 LINCOLN NATL CORP COMMON 534187109 979,726 16,828 16,028 800 LOEWS CORP COMMON 540424108 1,067,208 21,200 21,200 LOWE'S COS INC COMMON 548661107 482,937 21,350 21,350 L-3 COMMUNICATIONS HO COMMON 502424104 9,332,996 88,097 87,347 750 MAGELLAN MIDSTREAM PA COMMON 559080106 316,528 7,300 7,300 MARATHON OIL CORP COMMON 565849106 491,992 8,084 8,084 MCDONALD'S CORP COMMON 580135101 3,647,784 61,921 61,921 MCGRAW-HILL COMPANIES COMMON 580645109 262,816 5,999 5,999 MEDTRONIC INC COMMON 585055106 10,366,945 206,225 205,225 1,000 MERCK & CO. INC COMMON 589331107 2,182,400 37,556 37,556 MERITOR SVGS BK PA COMMON 590007100 92,000 23,000 23,000 MERRILL LYNCH & CO. I COMMON 590188108 1,973,024 36,755 35,755 1,000 METLIFE INC COMMON 59156R108 1,109,160 18,000 15,300 2,700 MICROSOFT CORP COMMON 594918104 13,586,285 381,637 378,837 2,800 MOLEX INC COMMON 608554101 6,501,222 238,140 236,940 1,200 MORGAN STANLEY NEW COMMON 617446448 255,565 4,812 4,812 MOTOROLA INC COMMON 620076109 296,932 18,512 18,512 NABORS INDUSTRIES COMMON G6359F103 2,573,427 93,955 93,955 NCR CORP NEW COMMON 62886E108 258,530 10,300 10,300 NESTLE S A REG ADR COMMON 641069406 242,399 2,111 2,111 NOBLE CORP COMMON G65422100 11,906,092 210,690 200,390 10,300 NOBLE ENERGY COMMON 655044105 413,504 5,200 5,200 NOKIA CORP ADR COMMON 654902204 3,887,478 101,263 99,663 1,600 NORDSTROM INC COMMON 655664100 2,131,442 58,030 57,130 900 NORFOLK SOUTHERN CORP COMMON 655844108 1,945,471 38,570 38,570 NOVARTIS AG SPONSORED COMMON 66987V109 3,913,597 72,060 72,060 NVIDIA CORP COMMON 67066G104 255,150 7,500 7,500 OCCIDENTAL PETE CORP COMMON 674599105 1,110,966 14,430 14,430 OMNICOM GROUP COMMON 681919106 3,923,364 82,545 81,845 700 OPTIONSXPRESS HLDGS I COMMON 684010101 1,278,396 37,800 300 37,500 ORACLE SYS CORP COMMON 68389X105 1,327,704 58,800 58,800 PACCAR INC COMMON 693718108 245,160 4,500 4,500 PARKER HANNIFIN CORP COMMON 701094104 303,123 4,025 4,025 PEABODY ENERGY CORP COMMON 704549104 246,560 4,000 4,000 PENNSYLVANIA REIT COMMON 709102107 5,560,479 187,348 186,548 800 PEPSICO INC COMMON 713448108 7,875,057 103,756 98,156 5,600 PFIZER INC COMMON 717081103 5,529,595 243,273 232,430 10,843 PHOTOMEDEX INC COMMON 719358103 15,200 16,000 16,000 PLANTGENIX INC PFD B COMMON 727990251 0 100,000 100,000 PNC FINANCIAL CORP COMMON 693475105 596,759 9,090 9,090 PPG INDUSTRIES INC COMMON 693506107 1,340,480 19,087 18,350 737 PPL CORP COMMON 69351T106 1,208,384 23,198 23,198 PRAXAIR INC COMMON 74005P104 3,460,134 39,005 39,005 PROCTER & GAMBLE CO COMMON 742718109 9,385,939 127,839 123,439 4,400 PROGRESS ENERGY INC C COMMON 743263105 345,064 7,125 7,125 PROTECTED BUY-WRITE 0 PREFERR 61747S850 231,250 25,000 25,000 PROTECTED BUY-WRITE 1 PREFERR 61750V840 156,780 18,000 18,000 PUBLIC SVC ENTERPRISE COMMON 744573106 376,161 7,658 7,658 QUESTAR CORP COMMON 748356102 690,316 12,760 12,360 400 RANGE RES CORP COM COMMON 75281A109 240,108 4,675 4,675 RAYTHEON CO NEW COMMON 755111507 1,925,708 31,725 31,725 REGIONS FINANCIAL COR COMMON 7591EP100 270,651 11,444 10,248 1,196 ROHM & HAAS CO. COMMON 775371107 1,613,328 30,400 30,400 ROYAL DUTCH SHELL PLC COMMON 780259206 904,476 10,742 10,542 200 SANDISK CORP COMMON 80004C101 2,346,446 70,740 70,740 SCHERING PLOUGH CORP COMMON 806605101 670,532 25,170 25,170 SCHLUMBERGER LTD COMMON 806857108 8,930,520 90,785 90,185 600 SEAGATE TECHNOLOGY COMMON G7945J104 1,278,825 50,150 50,150 SEI INVTS CO. COMMON 784117103 8,787,718 273,165 271,165 2,000 SIGMA ALDRICH CORP COMMON 826552101 545,672 9,994 9,994 ST JUDE MED INC COMMON 790849103 226,202 5,566 5,566 STAPLES INC COMMON 855030102 2,223,833 96,395 94,795 1,600 STATE STREET CORP COMMON 857477103 365,562 4,502 4,502 STERICYCLE INC COM COMMON 858912108 427,680 7,200 7,200 STRATTON FDS INC SMAL MUTUAL 863137105 3,827,187 82,947 82,947 STRYKER CORP COMMON 863667101 231,632 3,100 3,100 SUNTRUST BKS INC COMMON 867914103 500,420 8,008 8,008 SYMANTEC CORP COMMON 871503108 1,838,992 113,940 112,140 1,800 SYSCO CORP COMMON 871829107 7,157,202 229,324 227,974 1,350 TARGET CORP COMMON 87612E106 345,750 6,915 5,165 1,750 TELEFONICA S A ADR COMMON 879382208 545,723 5,592 5,592 TERADATA CORP DEL COM COMMON 88076W103 282,323 10,300 10,300 TEVA PHARMACEUTICAL COMMON 881624209 4,863,070 104,627 104,627 TEXAS INSTRUMENTS INC COMMON 882508104 2,303,364 68,963 63,563 5,400 TEXAS PAC LD COMMON 882610108 246,125 5,500 5,500 TEXTRON INC COMMON 883203101 855,600 12,000 10,800 1,200 THERMO ELECTRON CORP COMMON 883556102 1,853,778 32,139 32,139 TOLL BROTHERS INC COMMON 889478103 274,822 13,700 13,100 600 TRANSOCEAN INC COM NE COMMON G90073100 11,806,288 82,475 82,058 417 UBS FDS DYNAMIC ALPH MUTUAL 90262H353 104,372 10,303 10,303 ULTRA PETROLEUM CORP COMMON 903914109 1,792,505 25,070 25,070 UNILEVER N V COMMON 904784709 629,117 17,255 16,184 1,071 UNION PACIFIC CORP COMMON 907818108 485,898 3,868 3,868 UNITED PARCEL SVC INC COMMON 911312106 867,593 12,268 12,268 UNITED TECHNOLOGIES C COMMON 913017109 4,149,636 54,215 52,215 2,000 UNITEDHEALTH GROUP IN COMMON 91324P102 1,195,428 20,540 18,140 2,400 US BANCORP NEW COMMON 902973304 1,783,439 56,189 52,389 3,800 V F CORP COMMON 918204108 587,176 8,552 7,952 600 VALERO ENERGY CORP COMMON 91913Y100 378,162 5,400 5,400 VAN KAMPEN EQUITY TR MUTUAL 92114U772 1,577,829 66,212 66,212 VANGUARD BD INDEX FD MUTUAL 921937868 165,895 16,328 16,328 VANGUARD FIXED INCOME MUTUAL 922031844 234,216 22,180 22,180 VANGUARD INDEX FDS TT MUTUAL 922908488 512,359 15,012 15,012 VANGUARD INTERM-TERM MUTUAL 922907878 620,053 46,796 46,796 VANGUARD INTL EQUITY MUTUAL 922042775 377,501 6,441 6,441 VANGUARD MUN BD FD IN MUTUAL 922907886 305,562 28,319 28,319 VANGUARD TAX-MANAGED MUTUAL 921943866 504,999 7,143 7,143 VANGUARD TAX-MANAGED MUTUAL 921943809 413,106 26,825 26,825 VANGUARD/WINDSOR FD I MUTUAL 922018403 303,674 5,728 5,728 VERIZON COMMUNICATION COMMON 92343V104 2,451,010 56,100 48,200 7,900 VODAFONE GROUP INC COMMON 92857W209 396,786 10,632 10,632 VULCAN MATLS CO COM COMMON 929160109 5,440,997 68,795 67,495 1,300 WACHOVIA CORP COMMON 929903102 3,364,812 88,478 83,982 4,496 WAL MART STORES INC COMMON 931142103 532,336 11,200 11,200 WALGREEN COMPANY COMMON 931422109 301,441 7,916 7,916 WALLFRIN INDUSTRIES I COMMON 932495104 0 20,000 20,000 WELLS FARGO & CO NEW COMMON 949746101 1,889,713 62,594 53,794 8,800 WEYERHAEUSER CO COMMON 962166104 637,851 8,650 8,650 WILLIAMS COS INC COMMON 969457100 200,368 5,600 5,600 WILLIS GROUP HOLDINGS COMMON G96655108 2,904,705 76,500 75,500 1,000 WRIGLEY WM JR CO. COMMON 982526105 259,786 4,437 4,437 WYETH COMMON 983024100 3,087,644 69,872 58,983 10,889 XTO ENERGY INC COM COMMON 98385X106 449,246 8,747 8,747 YUM BRANDS INC COMMON 988498101 473,630 12,376 12,376 ZIMMER HLDGS INC COMMON 98956P102 3,690,707 55,793 55,793
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