# EDGAR Filing Document

**Accession Number:** 0001278249
**File Stem:** 0001278249-26-000002
**Filing Date:** 2026-2
**Character Count:** 21804
**Document Hash:** 9e4be0dd5060b5675094ee8810f606e8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001278249-26-000002.hdr.sgml**: 20260213

**ACCESSION NUMBER**: 0001278249-26-000002

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260213

**DATE AS OF CHANGE**: 20260213

**EFFECTIVENESS DATE**: 20260213

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TOWER BRIDGE ADVISORS
- **CENTRAL INDEX KEY:** 0001278249

**ORGANIZATION NAME:**
- **EIN:** 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:** 26629547

**BUSINESS ADDRESS:**
- **STREET 1:** 300 BARR HARBOR DRIVE
- **STREET 2:** SUITE 705
- **CITY:** WEST CONSHOHOCKEN
- **STATE:** PA
- **ZIP:** 19428
- **BUSINESS PHONE:** 6102602200

**MAIL ADDRESS:**
- **STREET 1:** 300 BARR HARBOR DRIVE
- **STREET 2:** SUITE 705
- **CITY:** WEST CONSHOHOCKEN
- **STATE:** PA
- **ZIP:** 19428

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** TOWER BRIDGE ADVISORS<br>**Address:** 300 BARR HARBOR DRIVE<br>SUITE 705<br>WEST CONSHOHOCKEN, PA 19428

**Form 13F File Number:** 028-10708

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 form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Jeffrey Kachel<br>**Title:** CFO Principal<br>**Phone:** 610-260-2205

**Signature, Place, and Date of Signing:**

Jeffrey Kachel  W. Conshocken, PA  02-13-2026<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 189

**Form 13F Information Table Value Total:** $990179154

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| 3M CO. | COMMON | 88579Y101 |  | 359104 | 2243 | SH |  | SOLE |  | 1743 | 0 | 0 |
| A T  T INC (NEW) | COMMON | 00206R102 |  | 543946 | 21898 | SH |  | SOLE |  | 20598 | 0 | 0 |
| ABBOTT LABS | COMMON | 002824100 |  | 5871716 | 46865 | SH |  | SOLE |  | 44765 | 0 | 0 |
| ABBVIE INC | COMMON | 00287Y109 |  | 9144855 | 40023 | SH |  | SOLE |  | 39423 | 0 | 0 |
| ACCENTURE PLC | COMMON | G1151C101 |  | 15464544 | 57639 | SH |  | SOLE |  | 54448 | 0 | 0 |
| ADOBE SYS INC | COMMON | 00724F101 |  | 539335 | 1541 | SH |  | SOLE |  | 1506 | 0 | 0 |
| AFLAC INC | COMMON | 001055102 |  | 1733665 | 15722 | SH |  | SOLE |  | 15722 | 0 | 0 |
| AGNICO EAGLE MINES | COMMON | 008474108 |  | 423825 | 2500 | SH |  | SOLE |  | 2500 | 0 | 0 |
| AIR PRODS  CHEMS | COMMON | 009158106 |  | 3510648 | 14212 | SH |  | SOLE |  | 14212 | 0 | 0 |
| ALAMOS GOLD INC NE | COMMON | 011532108 |  | 385800 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| ALLSTATE CORP | COMMON | 020002101 |  | 1197487 | 5753 | SH |  | SOLE |  | 5753 | 0 | 0 |
| ALPHABET CLASS A | COMMON | 02079K305 |  | 17212809 | 54993 | SH |  | SOLE |  | 51653 | 0 | 0 |
| ALPHABET CLASS C | COMMON | 02079K107 |  | 58723089 | 187135 | SH |  | SOLE |  | 177725 | 0 | 0 |
| ALTRIA GROUP INC | COMMON | 02209S103 |  | 539640 | 9359 | SH |  | SOLE |  | 8359 | 0 | 0 |
| AMAZON COM INC | COMMON | 023135106 |  | 11717808 | 50766 | SH |  | SOLE |  | 48276 | 0 | 0 |
| AMENTUM HOLDINGS I | COMMON | 023939101 |  | 991278 | 34182 | SH |  | SOLE |  | 34182 | 0 | 0 |
| AMERICAN BALANCED | MUTUAL | 024071102 |  | 337304 | 8997 | SH |  | SOLE |  | 8997 | 0 | 0 |
| AMERICAN ELECTRIC | COMMON | 025537101 |  | 573667 | 4975 | SH |  | SOLE |  | 4975 | 0 | 0 |
| AMERICAN EXPRESS C | COMMON | 025816109 |  | 6209241 | 16784 | SH |  | SOLE |  | 15384 | 0 | 0 |
| AMERIPRISE FINL IN | COMMON | 03076C106 |  | 3652543 | 7449 | SH |  | SOLE |  | 7449 | 0 | 0 |
| AMGEN INC | COMMON | 031162100 |  | 4765306 | 14559 | SH |  | SOLE |  | 14559 | 0 | 0 |
| AMPHENOL CORP CL A | COMMON | 032095101 |  | 1348021 | 9975 | SH |  | SOLE |  | 9975 | 0 | 0 |
| ANALOG DEVICES INC | COMMON | 032654105 |  | 5873921 | 21659 | SH |  | SOLE |  | 20459 | 0 | 0 |
| AON PLC SHS CL A | COMMON | G0403H108 |  | 11772783 | 33362 | SH |  | SOLE |  | 30954 | 0 | 0 |
| APPLE INC | COMMON | 037833100 |  | 57250797 | 210589 | SH |  | SOLE |  | 196235 | 0 | 0 |
| APPLIED MATLS INC | COMMON | 038222105 |  | 647101 | 2518 | SH |  | SOLE |  | 1493 | 0 | 0 |
| ARCOS DORADOS HOLD | COMMON | G0457F107 |  | 81239 | 11068 | SH |  | SOLE |  | 11068 | 0 | 0 |
| ASML HOLDING N V N | COMMON | N07059210 |  | 349844 | 327 | SH |  | SOLE |  | 327 | 0 | 0 |
| AUTOMATIC DATA PRO | COMMON | 053015103 |  | 1402932 | 5454 | SH |  | SOLE |  | 5454 | 0 | 0 |
| BANK OF AMERICA CO | COMMON | 060505104 |  | 4104097 | 74620 | SH |  | SOLE |  | 74620 | 0 | 0 |
| BANK OF AMERICA PF | PREFERR | 060505625 |  | 1591658 | 86222 | SH |  | SOLE |  | 83597 | 0 | 0 |
| BECTON DICKINSON | COMMON | 075887109 |  | 7301989 | 37626 | SH |  | SOLE |  | 34904 | 0 | 0 |
| BERKSHIRE HATHAWAY | COMMON | 084670702 |  | 6245929 | 12426 | SH |  | SOLE |  | 11926 | 0 | 0 |
| BERKSHIRE HATHAWAY | COMMON | 084670108 |  | 754800 | 1 | SH |  | SOLE |  | 1 | 0 | 0 |
| BK OF AMERICA CORP | PREFERR | 060505633 |  | 464350 | 25100 | SH |  | SOLE |  | 25100 | 0 | 0 |
| BLACKROCK INC COM | COMMON | 09290D101 |  | 1073551 | 1003 | SH |  | SOLE |  | 518 | 0 | 0 |
| BLACKSTONE GROUP I | COMMON | 09260D107 |  | 402151 | 2609 | SH |  | SOLE |  | 2609 | 0 | 0 |
| BOEING CO. | COMMON | 097023105 |  | 228627 | 1053 | SH |  | SOLE |  | 1053 | 0 | 0 |
| BOSTON SCIENTIFIC | COMMON | 101137107 |  | 1058385 | 11100 | SH |  | SOLE |  | 11100 | 0 | 0 |
| BRISTOL MYERS SQUI | COMMON | 110122108 |  | 1437393 | 26648 | SH |  | SOLE |  | 26648 | 0 | 0 |
| BROADCOM INC COM | COMMON | 11135F101 |  | 46329984 | 133863 | SH |  | SOLE |  | 132063 | 0 | 0 |
| BROWN  BROWN INC | COMMON | 115236101 |  | 5417177 | 67970 | SH |  | SOLE |  | 60570 | 0 | 0 |
| CAPITAL WORLD GROW | MUTUAL | 140543109 |  | 225426 | 3152 | SH |  | SOLE |  | 3152 | 0 | 0 |
| CARRIER GLOBAL COR | COMMON | 14448C104 |  | 609457 | 11534 | SH |  | SOLE |  | 11534 | 0 | 0 |
| CATERPILLAR INC | COMMON | 149123101 |  | 2291480 | 4000 | SH |  | SOLE |  | 3100 | 0 | 0 |
| CDN IMPERIAL BK CO | COMMON | 136069101 |  | 689905 | 7614 | SH |  | SOLE |  | 7614 | 0 | 0 |
| CDW CORP | COMMON | 12514G108 |  | 1689561 | 12405 | SH |  | SOLE |  | 12405 | 0 | 0 |
| CHEVRON CORP | COMMON | 166764100 |  | 8288961 | 54386 | SH |  | SOLE |  | 52636 | 0 | 0 |
| CHUBB LIMITED | COMMON | H1467J104 |  | 383283 | 1228 | SH |  | SOLE |  | 1228 | 0 | 0 |
| CIGNA CORP NEW COM | COMMON | 125523100 |  | 750552 | 2727 | SH |  | SOLE |  | 2727 | 0 | 0 |
| CISCO SYSTEMS INC | COMMON | 17275R102 |  | 4486402 | 58242 | SH |  | SOLE |  | 56142 | 0 | 0 |
| CME GROUP INC COM | COMMON | 12572Q105 |  | 6821842 | 24981 | SH |  | SOLE |  | 24336 | 0 | 0 |
| COCA COLA CO. | COMMON | 191216100 |  | 9769770 | 139748 | SH |  | SOLE |  | 127512 | 0 | 0 |
| COLGATE PALMOLIVE | COMMON | 194162103 |  | 1803394 | 22822 | SH |  | SOLE |  | 22322 | 0 | 0 |
| COMCAST CORP NEW C | COMMON | 20030N101 |  | 408626 | 13671 | SH |  | SOLE |  | 13671 | 0 | 0 |
| CONOCOPHILLIPS | COMMON | 20825C104 |  | 587590 | 6277 | SH |  | SOLE |  | 6277 | 0 | 0 |
| CONSTELLATION ENER | COMMON | 21037T109 |  | 291801 | 826 | SH |  | SOLE |  | 826 | 0 | 0 |
| COSTCO WHOLESALE | COMMON | 22160K105 |  | 8764824 | 10164 | SH |  | SOLE |  | 9316 | 0 | 0 |
| CSX CORP | COMMON | 126408103 |  | 2877696 | 79385 | SH |  | SOLE |  | 79385 | 0 | 0 |
| CVS HEALTH CORP. | COMMON | 126650100 |  | 250143 | 3152 | SH |  | SOLE |  | 2252 | 0 | 0 |
| DANAHER CORP | COMMON | 235851102 |  | 9054179 | 39552 | SH |  | SOLE |  | 38382 | 0 | 0 |
| DEERE  CO. | COMMON | 244199105 |  | 3670554 | 7884 | SH |  | SOLE |  | 7884 | 0 | 0 |
| DIAMONDBACK ENERGY | COMMON | 25278X109 |  | 1066591 | 7095 | SH |  | SOLE |  | 6995 | 0 | 0 |
| DOMINION RES INC V | COMMON | 25746U109 |  | 205299 | 3504 | SH |  | SOLE |  | 3504 | 0 | 0 |
| DOVER CORP | COMMON | 260003108 |  | 462133 | 2367 | SH |  | SOLE |  | 2367 | 0 | 0 |
| DUKE ENERGY CORPOR | COMMON | 26441C204 |  | 9148123 | 78049 | SH |  | SOLE |  | 77414 | 0 | 0 |
| EATON CORP PLC SHS | COMMON | G29183103 |  | 11858446 | 37231 | SH |  | SOLE |  | 35006 | 0 | 0 |
| EMERA INC COM | COMMON | 290876101 |  | 234924 | 4771 | SH |  | SOLE |  | 4771 | 0 | 0 |
| EMERSON ELECTRIC C | COMMON | 291011104 |  | 903425 | 6807 | SH |  | SOLE |  | 6807 | 0 | 0 |
| ENBRIDGE INC | COMMON | 29250N105 |  | 3118994 | 65210 | SH |  | SOLE |  | 64420 | 0 | 0 |
| ENTERPRISE PRODS P | COMMON | 293792107 |  | 4252278 | 132635 | SH |  | SOLE |  | 113735 | 0 | 0 |
| EXXON MOBIL | COMMON | 30231G102 |  | 11895361 | 98848 | SH |  | SOLE |  | 92995 | 0 | 0 |
| FEDEX CORP | COMMON | 31428X106 |  | 885934 | 3067 | SH |  | SOLE |  | 2767 | 0 | 0 |
| FIDELITY 500 INDEX | MUTUAL | 315911750 |  | 240787 | 1013 | SH |  | SOLE |  | 1013 | 0 | 0 |
| FRANKLIN CUSTODIAN | MUTUAL | 353496631 |  | 245948 | 98774 | SH |  | SOLE |  | 0 | 0 | 0 |
| GE AEROSPACE | COMMON | 369604301 |  | 1407081 | 4568 | SH |  | SOLE |  | 4268 | 0 | 0 |
| GE VERNOVA INC | COMMON | 36828A101 |  | 773827 | 1184 | SH |  | SOLE |  | 1109 | 0 | 0 |
| GLOBE LIFE INC | COMMON | 37959E102 |  | 419580 | 3000 | SH |  | SOLE |  | 3000 | 0 | 0 |
| GOLDMAN SACHS GROU | COMMON | 38141G104 |  | 1076775 | 1225 | SH |  | SOLE |  | 1075 | 0 | 0 |
| GOLDMAN SACHS GROU | PREFERR | 38144G804 |  | 434708 | 22350 | SH |  | SOLE |  | 18950 | 0 | 0 |
| GOLDMAN SACHS GROU | PREFERR | 38143Y665 |  | 3375743 | 174457 | SH |  | SOLE |  | 166787 | 0 | 0 |
| HERSHEY FOODS CORP | COMMON | 427866108 |  | 491346 | 2700 | SH |  | SOLE |  | 2700 | 0 | 0 |
| HOME DEPOT INC | COMMON | 437076102 |  | 6954261 | 20210 | SH |  | SOLE |  | 19343 | 0 | 0 |
| HONEYWELL INTL INC | COMMON | 438516106 |  | 6260915 | 32092 | SH |  | SOLE |  | 31967 | 0 | 0 |
| ILLINOIS TOOL WORK | COMMON | 452308109 |  | 619198 | 2514 | SH |  | SOLE |  | 1914 | 0 | 0 |
| INT'L BUSINESS MAC | COMMON | 459200101 |  | 3269566 | 11038 | SH |  | SOLE |  | 8238 | 0 | 0 |
| INTERCONTINENTAL E | COMMON | 45866F104 |  | 14513877 | 89614 | SH |  | SOLE |  | 84684 | 0 | 0 |
| INTERNATIONAL PAPE | COMMON | 460146103 |  | 229447 | 5825 | SH |  | SOLE |  | 5825 | 0 | 0 |
| IQVIA HOLDINGS INC | COMMON | 46266C105 |  | 14869396 | 65966 | SH |  | SOLE |  | 61661 | 0 | 0 |
| J P MORGAN CHASE | COMMON | 46625H100 |  | 39970015 | 124046 | SH |  | SOLE |  | 116354 | 0 | 0 |
| JACOBS SOLUTIONS I | COMMON | 46982L108 |  | 15647235 | 118128 | SH |  | SOLE |  | 110942 | 0 | 0 |
| JOHNSON  JOHNSON | COMMON | 478160104 |  | 18171340 | 87805 | SH |  | SOLE |  | 81767 | 0 | 0 |
| KIMBERLY CLARK COR | COMMON | 494368103 |  | 388931 | 3855 | SH |  | SOLE |  | 3855 | 0 | 0 |
| L3 HARRIS TECHNOLO | COMMON | 502431109 |  | 6365478 | 21683 | SH |  | SOLE |  | 21683 | 0 | 0 |
| LAM RESEARCH CORP | COMMON | 512807306 |  | 22890410 | 133721 | SH |  | SOLE |  | 128411 | 0 | 0 |
| LEIDOS HLDGS INC | COMMON | 525327102 |  | 3623514 | 20086 | SH |  | SOLE |  | 20086 | 0 | 0 |
| LENNAR CORP | COMMON | 526057104 |  | 5769358 | 56122 | SH |  | SOLE |  | 55437 | 0 | 0 |
| LILLY ELI AND CO | COMMON | 532457108 |  | 7190684 | 6691 | SH |  | SOLE |  | 6691 | 0 | 0 |
| LINDE PLC SHS | COMMON | G54950103 |  | 4253240 | 9975 | SH |  | SOLE |  | 9095 | 0 | 0 |
| LOCKHEED MARTIN CO | COMMON | 539830109 |  | 3334421 | 6894 | SH |  | SOLE |  | 6894 | 0 | 0 |
| LOWE'S COS INC | COMMON | 548661107 |  | 10935726 | 45346 | SH |  | SOLE |  | 41506 | 0 | 0 |
| MARATHON PETE CORP | COMMON | 56585A102 |  | 939676 | 5778 | SH |  | SOLE |  | 5778 | 0 | 0 |
| MARSH  MCLENNAN C | COMMON | 571748102 |  | 355456 | 1916 | SH |  | SOLE |  | 1916 | 0 | 0 |
| MCCORMICK  CO INC | COMMON | 579780206 |  | 680146 | 9986 | SH |  | SOLE |  | 9986 | 0 | 0 |
| MCDONALD'S CORP | COMMON | 580135101 |  | 19939894 | 65242 | SH |  | SOLE |  | 62885 | 0 | 0 |
| MEDTRONIC PLC | COMMON | G5960L103 |  | 3634238 | 37833 | SH |  | SOLE |  | 35087 | 0 | 0 |
| MERCK  COMPANY | COMMON | 58933Y105 |  | 3782502 | 35935 | SH |  | SOLE |  | 35935 | 0 | 0 |
| META PLATFORMS INC | COMMON | 30303M102 |  | 12999812 | 19694 | SH |  | SOLE |  | 17738 | 0 | 0 |
| METLIFE INC PFD | PREFERR | 59156R504 |  | 2229433 | 103119 | SH |  | SOLE |  | 95369 | 0 | 0 |
| MICROSOFT CORP | COMMON | 594918104 |  | 68570475 | 141786 | SH |  | SOLE |  | 135267 | 0 | 0 |
| MILLROSE PROPERTIE | COMMON | 601137102 |  | 681316 | 22809 | SH |  | SOLE |  | 22809 | 0 | 0 |
| MONDELEZ INTL INC | COMMON | 609207105 |  | 3257541 | 60515 | SH |  | SOLE |  | 59115 | 0 | 0 |
| MOODYS CORP | COMMON | 615369105 |  | 8271205 | 16191 | SH |  | SOLE |  | 15327 | 0 | 0 |
| MORGAN STANLEY PFD | PREFERR | 61747S504 |  | 652244 | 33795 | SH |  | SOLE |  | 29000 | 0 | 0 |
| NETFLIX COM INC | COMMON | 64110L106 |  | 1217942 | 12990 | SH |  | SOLE |  | 1990 | 0 | 0 |
| NEXTERA ENERGY INC | COMMON | 65339F101 |  | 8039560 | 100144 | SH |  | SOLE |  | 94894 | 0 | 0 |
| NISOURCE INC | COMMON | 65473P105 |  | 1101712 | 26382 | SH |  | SOLE |  | 26382 | 0 | 0 |
| NORFOLK SOUTHERN C | COMMON | 655844108 |  | 2407347 | 8338 | SH |  | SOLE |  | 8338 | 0 | 0 |
| NOVARTIS ADR | COMMON | 66987V109 |  | 9775121 | 70901 | SH |  | SOLE |  | 64117 | 0 | 0 |
| NVIDIA CORP | COMMON | 67066G104 |  | 8949203 | 47985 | SH |  | SOLE |  | 47985 | 0 | 0 |
| NXP SEMICONDUCTORS | COMMON | N6596X109 |  | 958320 | 4415 | SH |  | SOLE |  | 1925 | 0 | 0 |
| ONEOK INC NEW | COMMON | 682680103 |  | 6189509 | 84211 | SH |  | SOLE |  | 74880 | 0 | 0 |
| ORACLE SYS CORP | COMMON | 68389X105 |  | 28874304 | 148142 | SH |  | SOLE |  | 137181 | 0 | 0 |
| OTIS WORLDWIDE COR | COMMON | 68902V107 |  | 265020 | 3034 | SH |  | SOLE |  | 2884 | 0 | 0 |
| PARKER HANNIFIN CO | COMMON | 701094104 |  | 8553160 | 9731 | SH |  | SOLE |  | 8931 | 0 | 0 |
| PEPSICO INC | COMMON | 713448108 |  | 12197462 | 84988 | SH |  | SOLE |  | 81032 | 0 | 0 |
| PFIZER INC | COMMON | 717081103 |  | 1247490 | 50100 | SH |  | SOLE |  | 48109 | 0 | 0 |
| PHILIP MORRIS INTL | COMMON | 718172109 |  | 1758626 | 10964 | SH |  | SOLE |  | 10939 | 0 | 0 |
| PHILLIPS 66 | COMMON | 718546104 |  | 1309498 | 10148 | SH |  | SOLE |  | 10148 | 0 | 0 |
| PNC FINANCIAL CORP | COMMON | 693475105 |  | 3047451 | 14600 | SH |  | SOLE |  | 14600 | 0 | 0 |
| PPG INDUSTRIES INC | COMMON | 693506107 |  | 286888 | 2800 | SH |  | SOLE |  | 2800 | 0 | 0 |
| PPL CORP | COMMON | 69351T106 |  | 254385 | 7264 | SH |  | SOLE |  | 7264 | 0 | 0 |
| PROCTER  GAMBLE C | COMMON | 742718109 |  | 11264257 | 78601 | SH |  | SOLE |  | 76811 | 0 | 0 |
| PROLOGIS INC COM | COMMON | 74340W103 |  | 663194 | 5195 | SH |  | SOLE |  | 5195 | 0 | 0 |
| PRUDENTIAL FINL IN | COMMON | 744320102 |  | 829571 | 7349 | SH |  | SOLE |  | 7349 | 0 | 0 |
| QUALCOMM INC | COMMON | 747525103 |  | 2547277 | 14892 | SH |  | SOLE |  | 10699 | 0 | 0 |
| RAYMOND JAMES FINA | COMMON | 754730109 |  | 1294195 | 8059 | SH |  | SOLE |  | 8059 | 0 | 0 |
| REGIONS FINANCIAL | COMMON | 7591EP100 |  | 238724 | 8809 | SH |  | SOLE |  | 8809 | 0 | 0 |
| ROCHE HLDG LTD ADR | COMMON | 771195104 |  | 2398273 | 46314 | SH |  | SOLE |  | 45114 | 0 | 0 |
| ROPER INDS INC NEW | COMMON | 776696106 |  | 507448 | 1140 | SH |  | SOLE |  | 250 | 0 | 0 |
| RTX CORPORATION | COMMON | 75513E101 |  | 18810334 | 102565 | SH |  | SOLE |  | 99845 | 0 | 0 |
| SANDOZ GROUP AG SP | COMMON | 799926100 |  | 309697 | 4242 | SH |  | SOLE |  | 4122 | 0 | 0 |
| SCHWAB CHARLES COR | COMMON | 808513105 |  | 11917764 | 119285 | SH |  | SOLE |  | 110938 | 0 | 0 |
| SCHWAB S 500 IND | MUTUAL | 808509855 |  | 381167 | 21731 | SH |  | SOLE |  | 21731 | 0 | 0 |
| SIMON PPTY GROUP I | COMMON | 828806109 |  | 2337014 | 12625 | SH |  | SOLE |  | 8025 | 0 | 0 |
| SOLSTICE ADVANCED | COMMON | 83443Q103 |  | 314264 | 6469 | SH |  | SOLE |  | 6469 | 0 | 0 |
| SOUTHERN CO | COMMON | 842587107 |  | 1078577 | 12369 | SH |  | SOLE |  | 12369 | 0 | 0 |
| SPROTT PHYSICAL GO | COMMON | 85207H104 |  | 330200 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| STARBUCKS CORP | COMMON | 855244109 |  | 431155 | 5120 | SH |  | SOLE |  | 5120 | 0 | 0 |
| STATE STREET CORP | COMMON | 857477103 |  | 283822 | 2200 | SH |  | SOLE |  | 1900 | 0 | 0 |
| S GLOBAL INC COM | COMMON | 78409V104 |  | 4458740 | 8532 | SH |  | SOLE |  | 6888 | 0 | 0 |
| T MOBILE US INC | COMMON | 872590104 |  | 10240322 | 50435 | SH |  | SOLE |  | 47644 | 0 | 0 |
| TAIWAN SEMICONDUCT | COMMON | 874039100 |  | 220320 | 725 | SH |  | SOLE |  | 725 | 0 | 0 |
| TEXAS PACIFIC LAND | COMMON | 88262P102 |  | 3205950 | 11162 | SH |  | SOLE |  | 11162 | 0 | 0 |
| THERMO FISHER SCIE | COMMON | 883556102 |  | 15138371 | 26125 | SH |  | SOLE |  | 25375 | 0 | 0 |
| TOLL BROTHERS INC | COMMON | 889478103 |  | 10262792 | 75897 | SH |  | SOLE |  | 67135 | 0 | 0 |
| TORONTO DOMINION B | COMMON | 891160509 |  | 477123 | 5065 | SH |  | SOLE |  | 5065 | 0 | 0 |
| TRACTOR SUPPLY CO | COMMON | 892356106 |  | 206291 | 4125 | SH |  | SOLE |  | 3500 | 0 | 0 |
| TRANE TECHNOLOGIES | COMMON | G8994E103 |  | 1618294 | 4158 | SH |  | SOLE |  | 4158 | 0 | 0 |
| TRAVELERS COMPANIE | COMMON | 89417E109 |  | 3927702 | 13541 | SH |  | SOLE |  | 13541 | 0 | 0 |
| TRUIST FINANCIAL C | COMMON | 89832Q109 |  | 384822 | 7820 | SH |  | SOLE |  | 7820 | 0 | 0 |
| UBER TECHNOLOGIES | COMMON | 90353T100 |  | 367695 | 4500 | SH |  | SOLE |  | 4500 | 0 | 0 |
| UNILEVER PLC SPON | COMMON | 904767803 |  | 904940 | 13837 | SH |  | SOLE |  | 12860 | 0 | 0 |
| UNION PACIFIC CORP | COMMON | 907818108 |  | 4821171 | 20842 | SH |  | SOLE |  | 20842 | 0 | 0 |
| UNITED PARCEL SVC | COMMON | 911312106 |  | 2915789 | 29396 | SH |  | SOLE |  | 29396 | 0 | 0 |
| UNITEDHEALTH GROUP | COMMON | 91324P102 |  | 740318 | 2243 | SH |  | SOLE |  | 2167 | 0 | 0 |
| US BANCORP DEL 5.5 | PREFERR | 902973155 |  | 2424316 | 135816 | SH |  | SOLE |  | 131831 | 0 | 0 |
| VANGUARD BD INDEX | MUTUAL | 921937736 |  | 231554 | 5066 | SH |  | SOLE |  | 5066 | 0 | 0 |
| VANGUARD BD INDEX | MUTUAL | 921937686 |  | 251464 | 2763 | SH |  | SOLE |  | 2763 | 0 | 0 |
| VANGUARD CHARLOTTE | MUTUAL | 92203J308 |  | 215356 | 11124 | SH |  | SOLE |  | 11124 | 0 | 0 |
| VANGUARD INT-TERM | MUTUAL | 922031810 |  | 161012 | 18030 | SH |  | SOLE |  | 18030 | 0 | 0 |
| VANGUARD MUN BD FD | MUTUAL | 922907860 |  | 216688 | 19990 | SH |  | SOLE |  | 19990 | 0 | 0 |
| VANGUARD PA TAX FR | MUTUAL | 92204L302 |  | 182110 | 16815 | SH |  | SOLE |  | 16815 | 0 | 0 |
| VANGUARD US GROWTH | MUTUAL | 921910600 |  | 296793 | 1522 | SH |  | SOLE |  | 230 | 0 | 0 |
| VANGUARD/WELLINGTO | MUTUAL | 921935201 |  | 555846 | 7201 | SH |  | SOLE |  | 5295 | 0 | 0 |
| VERALTO CORP | COMMON | 92338C103 |  | 445146 | 4461 | SH |  | SOLE |  | 4460 | 0 | 0 |
| VERIZON COMMUNICAT | COMMON | 92343V104 |  | 642760 | 15781 | SH |  | SOLE |  | 13793 | 0 | 0 |
| VICTORY PORTFOLIOS | MUTUAL | 903287407 |  | 593637 | 19735 | SH |  | SOLE |  | 19735 | 0 | 0 |
| VISA INC | COMMON | 92826C839 |  | 20864439 | 59492 | SH |  | SOLE |  | 54132 | 0 | 0 |
| VULCAN MATLS CO CO | COMMON | 929160109 |  | 1407846 | 4936 | SH |  | SOLE |  | 4936 | 0 | 0 |
| WAL MART STORES IN | COMMON | 931142103 |  | 6545476 | 58751 | SH |  | SOLE |  | 55376 | 0 | 0 |
| WALT DISNEY COMPAN | COMMON | 254687106 |  | 970231 | 8528 | SH |  | SOLE |  | 7228 | 0 | 0 |
| WARNER BROS DISCOV | COMMON | 934423104 |  | 235978 | 8188 | SH |  | SOLE |  | 7874 | 0 | 0 |
| WASTE MGMT INC DEL | COMMON | 94106L109 |  | 4660708 | 21213 | SH |  | SOLE |  | 21213 | 0 | 0 |
| WATSCO INC | COMMON | 942622200 |  | 5327874 | 15812 | SH |  | SOLE |  | 14462 | 0 | 0 |
| WELLS FARGO  CO | COMMON | 949746101 |  | 3814289 | 40926 | SH |  | SOLE |  | 35126 | 0 | 0 |
| WELLTOWER INC | COMMON | 95040Q104 |  | 821324 | 4425 | SH |  | SOLE |  | 4425 | 0 | 0 |
| WILLIAMS COS INC | COMMON | 969457100 |  | 299288 | 4979 | SH |  | SOLE |  | 4979 | 0 | 0 |
| ZETA GLOBAL HOLDIN | COMMON | 98956A105 |  | 256410 | 12600 | SH |  | SOLE |  | 12600 | 0 | 0 |

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