# EDGAR Filing Document

**Accession Number:** 0001278249
**File Stem:** 0001278249-23-000002
**Filing Date:** 2023-1
**Character Count:** 28170
**Document Hash:** a2e81f68338faf5674ee6aed50a0e1af
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001278249-23-000002.hdr.sgml**: 20230127

**ACCESSION NUMBER**: 0001278249-23-000002

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230127

**DATE AS OF CHANGE**: 20230127

**EFFECTIVENESS DATE**: 20230127

**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:** 23561296

**BUSINESS ADDRESS:**
- **STREET 1:** 101 WEST ELM STREET
- **STREET 2:** SUITE 355
- **CITY:** CONSHOHOCKEN
- **STATE:** PA
- **ZIP:** 19428
- **BUSINESS PHONE:** 6102602200

**MAIL ADDRESS:**
- **STREET 1:** 101 WEST ELM STREET
- **STREET 2:** STE 355
- **CITY:** CONSHOHOCKEN
- **STATE:** PA
- **ZIP:** 19428

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2022

**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:** 101 WEST ELM STREET<br>STE 355<br>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:** cco<br>**Phone:** 6102602205

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

Jeffrey Kachel  Conshohocken, PA  01-27-2023<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:** 245

**Form 13F Information Table Value Total:** $1204021890

      (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 |
| 1/100 BERKSHIRE HTWY | COMMON | 084990175 |  | 467585 | 100 | SH |  | SOLE |  | 100 | 0 | 0 |
| 3M CO. | COMMON | 88579Y101 |  | 4376121 | 36492 | SH |  | SOLE | 1 | 30792 | 0 | 5700 |
| A T  T INC (NEW) | COMMON | 00206R102 |  | 2676777 | 145398 | SH |  | SOLE | 1 | 132677 | 0 | 12721 |
| ABBOTT LABS | COMMON | 002824100 |  | 6753293 | 61511 | SH |  | SOLE | 1 | 49013 | 0 | 12498 |
| ABBVIE INC | COMMON | 00287Y109 |  | 9111410 | 56379 | SH |  | SOLE | 1 | 51008 | 0 | 5371 |
| ACCENTURE PLC | COMMON | G1151C101 |  | 30467258 | 114178 | SH |  | SOLE | 1 | 78489 | 0 | 35689 |
| ADOBE SYS INC | COMMON | 00724F101 |  | 8089508 | 24038 | SH |  | SOLE | 1 | 19265 | 0 | 4773 |
| ADVANCED MICRO DEVICE | COMMON | 007903107 |  | 236411 | 3650 | SH |  | SOLE |  | 3650 | 0 | 0 |
| AFLAC INC | COMMON | 001055102 |  | 1131832 | 15733 | SH |  | SOLE |  | 15733 | 0 | 0 |
| AIR PRODS  CHEMS INC | COMMON | 009158106 |  | 11902535 | 38612 | SH |  | SOLE | 1 | 34597 | 0 | 4015 |
| AKAMAI TECHNOLOGIES I | COMMON | 00971T101 |  | 3608124 | 42801 | SH |  | SOLE | 1 | 36671 | 0 | 6130 |
| ALLSTATE CORP | COMMON | 020002101 |  | 1043442 | 7695 | SH |  | SOLE |  | 7695 | 0 | 0 |
| ALPHABET CLASS A | COMMON | 02079K305 |  | 15391900 | 174452 | SH |  | SOLE | 1 | 126502 | 0 | 47950 |
| ALPHABET CLASS C | COMMON | 02079K107 |  | 29165462 | 328699 | SH |  | SOLE | 1 | 246384 | 0 | 82315 |
| AMAZON COM INC | COMMON | 023135106 |  | 5003880 | 59570 | SH |  | SOLE | 1 | 44010 | 0 | 15560 |
| AMERICAN BALANCED FD | MUTUAL | 024071102 |  | 217260 | 7554 | SH |  | SOLE |  | 0 | 0 | 7554 |
| AMERICAN ELECTRIC POW | COMMON | 025537101 |  | 734438 | 7735 | SH |  | SOLE |  | 4935 | 0 | 2800 |
| AMERICAN EXPRESS CO. | COMMON | 025816109 |  | 2390152 | 16177 | SH |  | SOLE | 1 | 13074 | 0 | 3103 |
| AMERICAN WTR WKS CO I | COMMON | 030420103 |  | 414278 | 2718 | SH |  | SOLE |  | 2718 | 0 | 0 |
| AMERIPRISE FINL INC | COMMON | 03076C106 |  | 2549809 | 8189 | SH |  | SOLE |  | 8189 | 0 | 0 |
| AMGEN INC | COMMON | 031162100 |  | 4297053 | 16361 | SH |  | SOLE | 1 | 15961 | 0 | 400 |
| ANALOG DEVICES INC | COMMON | 032654105 |  | 4236075 | 25825 | SH |  | SOLE | 1 | 19078 | 0 | 6747 |
| AON PLC SHS CL A | COMMON | G0403H108 |  | 16874771 | 56223 | SH |  | SOLE | 1 | 43078 | 0 | 13145 |
| APPLE INC | COMMON | 037833100 |  | 54765103 | 421497 | SH |  | SOLE | 1 | 336993 | 0 | 84504 |
| APPLIED MATLS INC | COMMON | 038222105 |  | 255623 | 2625 | SH |  | SOLE |  | 1275 | 0 | 1350 |
| ASTRAZENECA PLC | COMMON | 046353108 |  | 216960 | 3200 | SH |  | SOLE | 1 | 3200 | 0 | 0 |
| AUTOMATIC DATA PROCES | COMMON | 053015103 |  | 9006455 | 37706 | SH |  | SOLE | 1 | 24775 | 0 | 12931 |
| BANK OF AMERICA CORP | COMMON | 060505104 |  | 2335523 | 70517 | SH |  | SOLE |  | 70517 | 0 | 0 |
| BANK OF AMERICA PFD D | PREFERR | 060505625 |  | 4934102 | 259144 | SH |  | SOLE | 1 | 196604 | 0 | 62540 |
| BAXTER INTERNATIONAL | COMMON | 071813109 |  | 529222 | 10383 | SH |  | SOLE | 1 | 10383 | 0 | 0 |
| BECTON DICKINSON  CO | COMMON | 075887109 |  | 25454574 | 100097 | SH |  | SOLE | 1 | 75193 | 0 | 24904 |
| BERKSHIRE HATHAWAY IN | COMMON | 084670702 |  | 7692228 | 24902 | SH |  | SOLE | 1 | 23371 | 0 | 1531 |
| BERKSHIRE HATHAWAY IN | COMMON | 084670108 |  | 468711 | 1 | SH |  | SOLE |  | 1 | 0 | 0 |
| BEST BUY INC | COMMON | 086516101 |  | 3491971 | 43535 | SH |  | SOLE | 1 | 30245 | 0 | 13290 |
| BK OF AMERICA CORP PF | PREFERR | 060505633 |  | 868725 | 45483 | SH |  | SOLE | 1 | 24783 | 0 | 20700 |
| BLACKROCK INC | COMMON | 09247X101 |  | 1206088 | 1702 | SH |  | SOLE | 1 | 1513 | 0 | 189 |
| BLACKROCK NATL MUN FD | MUTUAL | 09253C744 |  | 102636 | 10326 | SH |  | SOLE |  | 10326 | 0 | 0 |
| BLACKSTONE GROUP INC | COMMON | 09260D107 |  | 1148016 | 15474 | SH |  | SOLE | 1 | 12682 | 0 | 2792 |
| BOEING CO. | COMMON | 097023105 |  | 1206754 | 6335 | SH |  | SOLE | 1 | 6035 | 0 | 300 |
| BOOZ ALLEN HAMILTON H | COMMON | 099502106 |  | 773448 | 7400 | SH |  | SOLE |  | 7300 | 0 | 100 |
| BP PLC ADR | COMMON | 055622104 |  | 454160 | 13002 | SH |  | SOLE | 1 | 13002 | 0 | 0 |
| BRISTOL MYERS SQUIBB | COMMON | 110122108 |  | 6525793 | 90699 | SH |  | SOLE | 1 | 80714 | 0 | 9985 |
| BROADCOM INC COM | COMMON | 11135F101 |  | 7157423 | 12801 | SH |  | SOLE |  | 12779 | 0 | 22 |
| BROWN  BROWN INC | COMMON | 115236101 |  | 6893541 | 121003 | SH |  | SOLE | 1 | 79203 | 0 | 41800 |
| CAMPBELL SOUP CO | COMMON | 134429109 |  | 396115 | 6980 | SH |  | SOLE | 1 | 6980 | 0 | 0 |
| CANNABIX TECHNOLOGIES | COMMON | 13765L101 |  | 5011 | 21000 | SH |  | SOLE |  | 21000 | 0 | 0 |
| CARRIER GLOBAL CORPOR | COMMON | 14448C104 |  | 805778 | 19534 | SH |  | SOLE | 1 | 11194 | 0 | 8340 |
| CATERPILLAR INC | COMMON | 149123101 |  | 2357750 | 9842 | SH |  | SOLE | 1 | 7942 | 0 | 1900 |
| CDN IMPERIAL BK COMM | COMMON | 136069101 |  | 307986 | 7614 | SH |  | SOLE |  | 7614 | 0 | 0 |
| CDW CORP | COMMON | 12514G108 |  | 1964380 | 11000 | SH |  | SOLE |  | 11000 | 0 | 0 |
| CHEVRON CORP | COMMON | 166764100 |  | 16773151 | 93449 | SH |  | SOLE | 1 | 73174 | 0 | 20275 |
| CHUBB LIMITED | COMMON | H1467J104 |  | 380535 | 1725 | SH |  | SOLE |  | 1064 | 0 | 661 |
| CHURCH  DWIGHT CO. | COMMON | 171340102 |  | 290196 | 3600 | SH |  | SOLE |  | 0 | 0 | 3600 |
| CICERO INC | COMMON | 171708100 |  | 5 | 50000 | SH |  | SOLE |  | 0 | 0 | 50000 |
| CIGNA CORP NEW COM | COMMON | 125523100 |  | 916155 | 2765 | SH |  | SOLE |  | 2765 | 0 | 0 |
| CISCO SYSTEMS INC | COMMON | 17275R102 |  | 10306975 | 216351 | SH |  | SOLE | 1 | 167317 | 0 | 49034 |
| CITIGROUP INC | COMMON | 172967424 |  | 486411 | 10754 | SH |  | SOLE | 1 | 10638 | 0 | 116 |
| CME GROUP INC COM | COMMON | 12572Q105 |  | 461431 | 2744 | SH |  | SOLE |  | 2388 | 0 | 356 |
| COCA COLA CO. | COMMON | 191216100 |  | 13203846 | 207575 | SH |  | SOLE | 1 | 167408 | 0 | 40167 |
| COGNIZANT TECHNOLOGY | COMMON | 192446102 |  | 659973 | 11540 | SH |  | SOLE | 1 | 9640 | 0 | 1900 |
| COLGATE PALMOLIVE CO | COMMON | 194162103 |  | 4566511 | 57958 | SH |  | SOLE | 1 | 44633 | 0 | 13325 |
| COMCAST CORP NEW CL A | COMMON | 20030N101 |  | 3892336 | 111305 | SH |  | SOLE | 1 | 82085 | 0 | 29220 |
| COMERICA INC | COMMON | 200340107 |  | 327899 | 4905 | SH |  | SOLE | 1 | 4405 | 0 | 500 |
| COMMERCIAL METALS CO | COMMON | 201723103 |  | 483000 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| CONOCOPHILLIPS | COMMON | 20825C104 |  | 1809412 | 15334 | SH |  | SOLE | 1 | 13450 | 0 | 1884 |
| CONSOLIDATED EDISON I | COMMON | 209115104 |  | 238847 | 2506 | SH |  | SOLE | 1 | 1100 | 0 | 1406 |
| CONSTELLATION BRANDS | COMMON | 21036P108 |  | 5368952 | 23167 | SH |  | SOLE | 1 | 17527 | 0 | 5640 |
| CORNING INC | COMMON | 219350105 |  | 1093817 | 34246 | SH |  | SOLE | 1 | 34246 | 0 | 0 |
| CORTEVA INC COM | COMMON | 22052L104 |  | 1088077 | 18511 | SH |  | SOLE | 1 | 18245 | 0 | 266 |
| COSTCO WHOLESALE | COMMON | 22160K105 |  | 8723715 | 19110 | SH |  | SOLE | 1 | 11630 | 0 | 7480 |
| CRA CCM ALTERNATIVE I | MUTUAL | 20368N400 |  | 648011 | 79026 | SH |  | SOLE |  | 0 | 0 | 79026 |
| CROWN CASTLE INTL COR | COMMON | 22822V101 |  | 6252597 | 46097 | SH |  | SOLE | 1 | 34672 | 0 | 11425 |
| CSX CORP | COMMON | 126408103 |  | 2270029 | 73274 | SH |  | SOLE |  | 73274 | 0 | 0 |
| CULLEN FROST BANKERS | COMMON | 229899109 |  | 4487641 | 33565 | SH |  | SOLE | 1 | 21840 | 0 | 11725 |
| CVS HEALTH CORP. | COMMON | 126650100 |  | 22923969 | 245992 | SH |  | SOLE | 1 | 180739 | 0 | 65253 |
| DANAHER CORP | COMMON | 235851102 |  | 21461925 | 80860 | SH |  | SOLE | 1 | 54872 | 0 | 25988 |
| DARDEN RESTAURANTS IN | COMMON | 237194105 |  | 207495 | 1500 | SH |  | SOLE |  | 1500 | 0 | 0 |
| DEERE  CO. | COMMON | 244199105 |  | 2735489 | 6380 | SH |  | SOLE |  | 6380 | 0 | 0 |
| DIAGEO PLC | COMMON | 25243Q205 |  | 13279432 | 74524 | SH |  | SOLE | 1 | 54094 | 0 | 20430 |
| DIGITAL REALTY TRUST | COMMON | 253868103 |  | 6250832 | 62340 | SH |  | SOLE | 1 | 50735 | 0 | 11605 |
| DOMINION RES INC VA | COMMON | 25746U109 |  | 922443 | 15043 | SH |  | SOLE | 1 | 15043 | 0 | 0 |
| DOVER CORP | COMMON | 260003108 |  | 320515 | 2367 | SH |  | SOLE |  | 2367 | 0 | 0 |
| DOW INC COM | COMMON | 260557103 |  | 822365 | 16320 | SH |  | SOLE | 1 | 15904 | 0 | 416 |
| DUKE ENERGY CORPORATI | COMMON | 26441C204 |  | 1896458 | 18414 | SH |  | SOLE | 1 | 16014 | 0 | 2400 |
| DUPONT DE NEMOURS INC | COMMON | 26614N102 |  | 536833 | 7822 | SH |  | SOLE | 1 | 7406 | 0 | 416 |
| EATON CORP PLC SHS | COMMON | G29183103 |  | 4872984 | 31048 | SH |  | SOLE | 1 | 30086 | 0 | 962 |
| EATON VANCE NATL MUNS | MUTUAL | 27826L249 |  | 112684 | 12465 | SH |  | SOLE |  | 12465 | 0 | 0 |
| EMERSON ELECTRIC CO | COMMON | 291011104 |  | 901427 | 9384 | SH |  | SOLE | 1 | 7715 | 0 | 1669 |
| ENBRIDGE INC | COMMON | 29250N105 |  | 3841301 | 98243 | SH |  | SOLE | 1 | 90003 | 0 | 8240 |
| ENTERPRISE PRODS PART | COMMON | 293792107 |  | 5078032 | 210532 | SH |  | SOLE | 1 | 134292 | 0 | 76240 |
| EQUINIX INC COM | COMMON | 29444U700 |  | 328825 | 502 | SH |  | SOLE | 1 | 222 | 0 | 280 |
| ESSENTIAL UTILS INC C | COMMON | 29670G102 |  | 923483 | 19348 | SH |  | SOLE | 1 | 17223 | 0 | 2125 |
| EXPEDIA INC DEL | COMMON | 30212P303 |  | 502824 | 5740 | SH |  | SOLE | 1 | 3490 | 0 | 2250 |
| EXXON MOBIL | COMMON | 30231G102 |  | 12028209 | 109050 | SH |  | SOLE | 1 | 87298 | 0 | 21752 |
| FEDERATED EQUITY FDS | MUTUAL | 314172677 |  | 116500 | 25000 | SH |  | SOLE |  | 25000 | 0 | 0 |
| FEDERATED HIGH INCOME | MUTUAL | 314195108 |  | 107780 | 17000 | SH |  | SOLE |  | 17000 | 0 | 0 |
| FEDEX CORP | COMMON | 31428X106 |  | 6364234 | 36745 | SH |  | SOLE | 1 | 29530 | 0 | 7215 |
| FIDELITY NATL INFORMA | COMMON | 31620M106 |  | 486145 | 7165 | SH |  | SOLE | 1 | 6665 | 0 | 500 |
| FOOT LOCKER INC | COMMON | 344849104 |  | 226740 | 6000 | SH |  | SOLE |  | 6000 | 0 | 0 |
| FORTIVE CORP | COMMON | 34959J108 |  | 363013 | 5650 | SH |  | SOLE | 1 | 4476 | 0 | 1174 |
| FORTUNE BRANDS HOME | COMMON | 34964C106 |  | 805422 | 14103 | SH |  | SOLE | 1 | 10953 | 0 | 3150 |
| GENERAL ELECTRIC CO C | COMMON | 369604301 |  | 1599886 | 19094 | SH |  | SOLE | 1 | 17902 | 0 | 1192 |
| GENERAL MILLS INC | COMMON | 370334104 |  | 1775943 | 21180 | SH |  | SOLE | 1 | 18980 | 0 | 2200 |
| GILEAD SCIENCES INC | COMMON | 375558103 |  | 292298 | 3405 | SH |  | SOLE | 1 | 3405 | 0 | 0 |
| GOLDMAN SACHS GROUP I | COMMON | 38141G104 |  | 243800 | 710 | SH |  | SOLE | 1 | 585 | 0 | 125 |
| GOLDMAN SACHS GROUP I | PREFERR | 38144G804 |  | 721004 | 39100 | SH |  | SOLE | 1 | 22434 | 0 | 16666 |
| GOLDMAN SACHS GROUP I | PREFERR | 38143Y665 |  | 8853056 | 480883 | SH |  | SOLE | 1 | 368883 | 0 | 112000 |
| GSK PLC SPONSORED ADR | COMMON | 37733W204 |  | 314292 | 8944 | SH |  | SOLE | 1 | 8944 | 0 | 0 |
| HALEON PLC SPON ADS | COMMON | 405552100 |  | 89456 | 11182 | SH |  | SOLE | 1 | 11182 | 0 | 0 |
| HERSHEY FOODS CORP | COMMON | 427866108 |  | 1852560 | 8000 | SH |  | SOLE | 1 | 2700 | 0 | 5300 |
| HOME DEPOT INC | COMMON | 437076102 |  | 10373790 | 32843 | SH |  | SOLE | 1 | 24307 | 0 | 8536 |
| HONEYWELL INTL INC | COMMON | 438516106 |  | 10859010 | 50672 | SH |  | SOLE | 1 | 40103 | 0 | 10569 |
| ILLINOIS TOOL WORKS I | COMMON | 452308109 |  | 2640956 | 11988 | SH |  | SOLE | 1 | 10688 | 0 | 1300 |
| ILLUMINA INC | COMMON | 452327109 |  | 262860 | 1300 | SH |  | SOLE | 1 | 1300 | 0 | 0 |
| INTEL CORP | COMMON | 458140100 |  | 2050307 | 77575 | SH |  | SOLE | 1 | 64967 | 0 | 12608 |
| INTERCONTINENTAL EXCH | COMMON | 45866F104 |  | 4314320 | 42054 | SH |  | SOLE | 1 | 30094 | 0 | 11960 |
| INTERNATIONAL PAPER C | COMMON | 460146103 |  | 201720 | 5825 | SH |  | SOLE |  | 5825 | 0 | 0 |
| INT'L BUSINESS MACHIN | COMMON | 459200101 |  | 4110466 | 29175 | SH |  | SOLE | 1 | 23095 | 0 | 6080 |
| IQVIA HOLDINGS INC | COMMON | 46266C105 |  | 25142667 | 122713 | SH |  | SOLE | 1 | 90761 | 0 | 31952 |
| J P MORGAN CHASE  CO | COMMON | 46625H100 |  | 23650977 | 176368 | SH |  | SOLE | 1 | 143874 | 0 | 32494 |
| JACOBS SOLUTIONS INC | COMMON | 46982L108 |  | 22893147 | 190665 | SH |  | SOLE | 1 | 150780 | 0 | 39885 |
| JOHNSON  JOHNSON | COMMON | 478160104 |  | 34323639 | 194303 | SH |  | SOLE | 1 | 161625 | 0 | 32678 |
| JOHNSON CONTROLS INTL | COMMON | G51502105 |  | 278016 | 4344 | SH |  | SOLE | 1 | 4344 | 0 | 0 |
| KELLOGG CO. | COMMON | 487836108 |  | 458073 | 6430 | SH |  | SOLE | 1 | 930 | 0 | 5500 |
| KEYCORP | COMMON | 493267108 |  | 2134821 | 122550 | SH |  | SOLE | 1 | 100200 | 0 | 22350 |
| KIMBERLY CLARK CORP | COMMON | 494368103 |  | 2546263 | 18757 | SH |  | SOLE | 1 | 18757 | 0 | 0 |
| KRAIG BIOCRAFT LABORA | COMMON | 50075W104 |  | 3100 | 100000 | SH |  | SOLE | 1 | 100000 | 0 | 0 |
| L3 HARRIS TECHNOLOGIE | COMMON | 502431109 |  | 5835502 | 28027 | SH |  | SOLE | 1 | 24452 | 0 | 3575 |
| LA Z BOY INC COM | COMMON | 505336107 |  | 228200 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| LAM RESEARCH CORP COM | COMMON | 512807108 |  | 822947 | 1958 | SH |  | SOLE |  | 1942 | 0 | 16 |
| LEIDOS HLDGS INC | COMMON | 525327102 |  | 4017837 | 38196 | SH |  | SOLE | 1 | 33896 | 0 | 4300 |
| LENNAR CORP | COMMON | 526057104 |  | 8274483 | 91431 | SH |  | SOLE | 1 | 72120 | 0 | 19311 |
| LILLY ELI AND CO | COMMON | 532457108 |  | 2192113 | 5992 | SH |  | SOLE |  | 5372 | 0 | 620 |
| LINDE PLC COM | COMMON | G5494J103 |  | 3882847 | 11904 | SH |  | SOLE | 1 | 9059 | 0 | 2845 |
| LOCKHEED MARTIN CORP | COMMON | 539830109 |  | 2932562 | 6028 | SH |  | SOLE |  | 6028 | 0 | 0 |
| LOWE'S COS INC | COMMON | 548661107 |  | 18543017 | 93069 | SH |  | SOLE | 1 | 71554 | 0 | 21515 |
| LYONDELLBASELL INDUST | COMMON | N53745100 |  | 643483 | 7750 | SH |  | SOLE |  | 7750 | 0 | 0 |
| MAGELLAN MIDSTREAM PA | COMMON | 559080106 |  | 677835 | 13500 | SH |  | SOLE |  | 7500 | 0 | 6000 |
| MARATHON PETE CORP | COMMON | 56585A102 |  | 567983 | 4880 | SH |  | SOLE |  | 4880 | 0 | 0 |
| MARSH  MCLENNAN COS | COMMON | 571748102 |  | 446796 | 2700 | SH |  | SOLE |  | 0 | 0 | 2700 |
| MASTERBRAND INC COMMO | COMMON | 57638P104 |  | 106478 | 14103 | SH |  | SOLE | 1 | 10953 | 0 | 3150 |
| MASTERCARD INC CL A | COMMON | 57636Q104 |  | 247931 | 713 | SH |  | SOLE |  | 613 | 0 | 100 |
| MCCORMICK  CO INC | COMMON | 579780206 |  | 240381 | 2900 | SH |  | SOLE |  | 2900 | 0 | 0 |
| MCCORMICK  CO INC CO | COMMON | 579780107 |  | 328680 | 4000 | SH |  | SOLE |  | 0 | 0 | 4000 |
| MCDONALD'S CORP | COMMON | 580135101 |  | 25670457 | 97410 | SH |  | SOLE | 1 | 74643 | 0 | 22767 |
| MEDTRONIC PLC | COMMON | G5960L103 |  | 6945215 | 89362 | SH |  | SOLE | 1 | 60020 | 0 | 29342 |
| MERCK  COMPANY | COMMON | 58933Y105 |  | 7040443 | 63456 | SH |  | SOLE | 1 | 55775 | 0 | 7681 |
| META PLATFORMS INC | COMMON | 30303M102 |  | 5484134 | 45572 | SH |  | SOLE | 1 | 32329 | 300 | 12943 |
| METLIFE INC | COMMON | 59156R108 |  | 284125 | 3926 | SH |  | SOLE |  | 3926 | 0 | 0 |
| METLIFE INC 4.0 percent PFD | PREFERR | 59156R504 |  | 3172184 | 146049 | SH |  | SOLE |  | 119798 | 0 | 26251 |
| MICROSOFT CORP | COMMON | 594918104 |  | 62325586 | 259885 | SH |  | SOLE | 1 | 200891 | 200 | 58794 |
| MONDELEZ INTL INC | COMMON | 609207105 |  | 8263467 | 123983 | SH |  | SOLE | 1 | 96980 | 0 | 27003 |
| MOODYS CORP | COMMON | 615369105 |  | 10811955 | 38805 | SH |  | SOLE | 1 | 27320 | 0 | 11485 |
| MORGAN STANLEY | COMMON | 617446448 |  | 318145 | 3742 | SH |  | SOLE |  | 3742 | 0 | 0 |
| MORGAN STANLEY PFD A | PREFERR | 61747S504 |  | 1659049 | 87595 | SH |  | SOLE | 1 | 68995 | 0 | 18600 |
| NETFLIX COM INC | COMMON | 64110L106 |  | 2032608 | 6893 | SH |  | SOLE | 1 | 6671 | 0 | 222 |
| NEXTERA ENERGY INC | COMMON | 65339F101 |  | 5691655 | 68082 | SH |  | SOLE | 1 | 66582 | 0 | 1500 |
| NIKE INC CL B | COMMON | 654106103 |  | 8295424 | 70895 | SH |  | SOLE | 1 | 56207 | 0 | 14688 |
| NORFOLK SOUTHERN CORP | COMMON | 655844108 |  | 3267776 | 13261 | SH |  | SOLE | 1 | 11411 | 0 | 1850 |
| NORTHWEST PIPE CO COM | COMMON | 667746101 |  | 202200 | 6000 | SH |  | SOLE |  | 6000 | 0 | 0 |
| NOVARTIS ADR | COMMON | 66987V109 |  | 9808646 | 108120 | SH |  | SOLE | 1 | 79127 | 0 | 28993 |
| NUCOR CORP | COMMON | 670346105 |  | 237258 | 1800 | SH |  | SOLE | 1 | 1800 | 0 | 0 |
| NVIDIA CORP | COMMON | 67066G104 |  | 3268129 | 22363 | SH |  | SOLE | 1 | 3438 | 0 | 18925 |
| NXP SEMICONDUCTORS N | COMMON | N6596X109 |  | 2271997 | 14377 | SH |  | SOLE | 1 | 12307 | 0 | 2070 |
| ONEOK INC NEW | COMMON | 682680103 |  | 5720828 | 87075 | SH |  | SOLE | 1 | 66590 | 0 | 20485 |
| ORACLE SYS CORP | COMMON | 68389X105 |  | 25178691 | 308034 | SH |  | SOLE | 1 | 243889 | 0 | 64145 |
| OTIS WORLDWIDE CORP C | COMMON | 68902V107 |  | 513557 | 6558 | SH |  | SOLE | 1 | 3796 | 0 | 2762 |
| PARKER HANNIFIN CORP | COMMON | 701094104 |  | 817419 | 2809 | SH |  | SOLE |  | 2809 | 0 | 0 |
| PAYPAL HLDGS INC | COMMON | 70450Y103 |  | 1781426 | 25013 | SH |  | SOLE | 1 | 20959 | 0 | 4054 |
| PEPSICO INC | COMMON | 713448108 |  | 21631167 | 119734 | SH |  | SOLE | 1 | 90504 | 0 | 29230 |
| PFIZER INC | COMMON | 717081103 |  | 9201116 | 179569 | SH |  | SOLE | 1 | 169374 | 0 | 10195 |
| PHILIP MORRIS INTL IN | COMMON | 718172109 |  | 437733 | 4325 | SH |  | SOLE | 1 | 3325 | 0 | 1000 |
| PHILLIPS 66 | COMMON | 718546104 |  | 1624168 | 15605 | SH |  | SOLE | 1 | 15605 | 0 | 0 |
| PIONEER NATURAL RES C | COMMON | 723787107 |  | 7409885 | 32444 | SH |  | SOLE | 1 | 24179 | 0 | 8265 |
| PNC FINANCIAL CORP | COMMON | 693475105 |  | 2132974 | 13505 | SH |  | SOLE | 1 | 13505 | 0 | 0 |
| PPG INDUSTRIES INC | COMMON | 693506107 |  | 1282548 | 10200 | SH |  | SOLE | 1 | 8600 | 0 | 1600 |
| PPL CORP | COMMON | 69351T106 |  | 482188 | 16502 | SH |  | SOLE | 1 | 16502 | 0 | 0 |
| PROCTER  GAMBLE CO | COMMON | 742718109 |  | 16266887 | 107330 | SH |  | SOLE | 1 | 82210 | 0 | 25120 |
| PROLOGIS INC COM | COMMON | 74340W103 |  | 856410 | 7597 | SH |  | SOLE | 1 | 7597 | 0 | 0 |
| PRUDENTIAL FINL INC | COMMON | 744320102 |  | 826030 | 8305 | SH |  | SOLE |  | 8305 | 0 | 0 |
| QUALCOMM INC | COMMON | 747525103 |  | 6965249 | 63355 | SH |  | SOLE | 1 | 53280 | 0 | 10075 |
| QUANEX BLDG PRODS COR | COMMON | 747619104 |  | 556480 | 23500 | SH |  | SOLE |  | 23500 | 0 | 0 |
| RAYMOND JAMES FINANCI | COMMON | 754730109 |  | 4055385 | 37954 | SH |  | SOLE | 1 | 17800 | 0 | 20154 |
| REGAL BELOIT CORP COM | COMMON | 758750103 |  | 839860 | 7000 | SH |  | SOLE |  | 7000 | 0 | 0 |
| REGENERON PHARMACEUTI | COMMON | 75886F107 |  | 228712 | 317 | SH |  | SOLE | 1 | 117 | 0 | 200 |
| RESTAURANT BRANDS INT | COMMON | 76131D103 |  | 384787 | 5950 | SH |  | SOLE | 1 | 3050 | 0 | 2900 |
| ROCHE HLDG LTD ADR | COMMON | 771195104 |  | 3453497 | 87991 | SH |  | SOLE |  | 77906 | 0 | 10085 |
| ROPER INDS INC NEW CO | COMMON | 776696106 |  | 1202506 | 2783 | SH |  | SOLE | 1 | 2779 | 0 | 4 |
| RPM INC OHIO | COMMON | 749685103 |  | 292350 | 3000 | SH |  | SOLE |  | 3000 | 0 | 0 |
| S GLOBAL INC COM | COMMON | 78409V104 |  | 5228078 | 15609 | SH |  | SOLE | 1 | 12204 | 0 | 3405 |
| SCHWAB CHARLES CORP | COMMON | 808513105 |  | 19493664 | 234130 | SH |  | SOLE | 1 | 159605 | 0 | 74525 |
| SCHWAB S 500 INDEX | MUTUAL | 808509855 |  | 287373 | 4891 | SH |  | SOLE |  | 4891 | 0 | 0 |
| SIMON PPTY GROUP INC | COMMON | 828806109 |  | 3912084 | 33300 | SH |  | SOLE | 1 | 29085 | 0 | 4215 |
| SIMPSON MFG INC | COMMON | 829073105 |  | 975260 | 11000 | SH |  | SOLE |  | 11000 | 0 | 0 |
| SKYWORKS SOLUTIONS IN | COMMON | 83088M102 |  | 293894 | 3225 | SH |  | SOLE |  | 3225 | 0 | 0 |
| SPROTT PHYSICAL GOLD | COMMON | 85207H104 |  | 331350 | 23500 | SH |  | SOLE |  | 23500 | 0 | 0 |
| SPROTT PHYSICAL GOLD | COMMON | 85208R101 |  | 862433 | 48100 | SH |  | SOLE |  | 48100 | 0 | 0 |
| STANLEY BLACK AND DEC | COMMON | 854502101 |  | 343148 | 4568 | SH |  | SOLE | 1 | 4568 | 0 | 0 |
| STARBUCKS CORP | COMMON | 855244109 |  | 2670762 | 26923 | SH |  | SOLE | 1 | 24672 | 0 | 2251 |
| STATE STREET CORP | COMMON | 857477103 |  | 657406 | 8475 | SH |  | SOLE | 1 | 5000 | 0 | 3475 |
| STEEL DYNAMICS INC CO | COMMON | 858119100 |  | 1318950 | 13500 | SH |  | SOLE |  | 13500 | 0 | 0 |
| SYNCHRONY FINANCIAL | COMMON | 87165B103 |  | 833001 | 25350 | SH |  | SOLE | 1 | 21200 | 0 | 4150 |
| SYSCO CORP | COMMON | 871829107 |  | 298002 | 3898 | SH |  | SOLE | 1 | 3816 | 0 | 82 |
| T MOBILE US INC | COMMON | 872590104 |  | 6020420 | 43003 | SH |  | SOLE | 1 | 29378 | 0 | 13625 |
| TAIWAN SEMICONDUCTOR | COMMON | 874039100 |  | 5188601 | 69655 | SH |  | SOLE | 1 | 52707 | 0 | 16948 |
| TESLA MTRS INC | COMMON | 88160R101 |  | 588185 | 4775 | SH |  | SOLE | 1 | 4775 | 0 | 0 |
| TEXAS INSTRUMENTS INC | COMMON | 882508104 |  | 1751332 | 10600 | SH |  | SOLE | 1 | 8600 | 0 | 2000 |
| TEXAS PACIFIC LAND CO | COMMON | 88262P102 |  | 5154962 | 2199 | SH |  | SOLE |  | 1950 | 0 | 249 |
| THERMO FISHER SCIENTI | COMMON | 883556102 |  | 25943043 | 47110 | SH |  | SOLE | 1 | 42100 | 0 | 5010 |
| THOR INDS INC | COMMON | 885160101 |  | 739425 | 9795 | SH |  | SOLE |  | 9795 | 0 | 0 |
| TOLL BROTHERS INC | COMMON | 889478103 |  | 6786524 | 135948 | SH |  | SOLE | 1 | 102408 | 0 | 33540 |
| TORONTO DOMINION BK O | COMMON | 891160509 |  | 729068 | 11258 | SH |  | SOLE |  | 11258 | 0 | 0 |
| TRACTOR SUPPLY CO | COMMON | 892356106 |  | 1164220 | 5175 | SH |  | SOLE | 1 | 75 | 0 | 5100 |
| TRANE TECHNOLOGIES PL | COMMON | G8994E103 |  | 845997 | 5033 | SH |  | SOLE | 1 | 5033 | 0 | 0 |
| TRUIST FINANCIAL CORP | COMMON | 89832Q109 |  | 13355737 | 310382 | SH |  | SOLE | 1 | 237656 | 0 | 72726 |
| UNILEVER PLC ADR | COMMON | 904767704 |  | 1335634 | 26527 | SH |  | SOLE | 1 | 12303 | 0 | 14224 |
| UNION PACIFIC CORP | COMMON | 907818108 |  | 6102767 | 29472 | SH |  | SOLE | 1 | 21842 | 0 | 7630 |
| UNITED PARCEL SVC INC | COMMON | 911312106 |  | 9046286 | 52038 | SH |  | SOLE | 1 | 48570 | 0 | 3468 |
| UNITEDHEALTH GROUP IN | COMMON | 91324P102 |  | 8635042 | 16287 | SH |  | SOLE | 1 | 13610 | 0 | 2677 |
| US BANCORP DEL 5.56 percent | PREFERR | 902973155 |  | 8670687 | 471233 | SH |  | SOLE | 1 | 361118 | 0 | 110115 |
| US BANCORP NEW | COMMON | 902973304 |  | 220361 | 5053 | SH |  | SOLE |  | 5053 | 0 | 0 |
| V F CORP | COMMON | 918204108 |  | 848869 | 30745 | SH |  | SOLE | 1 | 30745 | 0 | 0 |
| VALLEY NATL BANCORP C | COMMON | 919794107 |  | 452400 | 40000 | SH |  | SOLE |  | 40000 | 0 | 0 |
| VANGUARD BD INDEX FD | MUTUAL | 921937801 |  | 216512 | 21479 | SH |  | SOLE | 1 | 0 | 0 | 21479 |
| VANGUARD MUN BD FD IN | MUTUAL | 922907860 |  | 211091 | 19990 | SH |  | SOLE |  | 19990 | 0 | 0 |
| VANGUARD MUN BD FD IN | MUTUAL | 922907704 |  | 3201019 | 300002 | SH |  | SOLE |  | 300002 | 0 | 0 |
| VANGUARD PA TAX FREE | MUTUAL | 92204L302 |  | 177233 | 16815 | SH |  | SOLE |  | 16815 | 0 | 0 |
| VANGUARD TAX-MANAGED | MUTUAL | 921943866 |  | 872111 | 4409 | SH |  | SOLE |  | 4409 | 0 | 0 |
| VANGUARD US GROWTH FU | MUTUAL | 921910600 |  | 380925 | 3760 | SH |  | SOLE | 1 | 3760 | 0 | 0 |
| VANGUARD/PRIMECAP FD | MUTUAL | 921936209 |  | 630589 | 4819 | SH |  | SOLE |  | 2894 | 0 | 1925 |
| VANGUARD/WELLINGTON F | MUTUAL | 921935201 |  | 849043 | 12800 | SH |  | SOLE | 1 | 0 | 0 | 12800 |
| VERIZON COMMUNICATION | COMMON | 92343V104 |  | 8483100 | 215307 | SH |  | SOLE | 1 | 172628 | 0 | 42679 |
| VERTEX PHARMACEUTICAL | COMMON | 92532F100 |  | 288780 | 1000 | SH |  | SOLE | 1 | 1000 | 0 | 0 |
| VISA INC | COMMON | 92826C839 |  | 27665945 | 133163 | SH |  | SOLE | 1 | 90785 | 250 | 42128 |
| WAL MART STORES INC | COMMON | 931142103 |  | 9482915 | 66880 | SH |  | SOLE | 1 | 51105 | 0 | 15775 |
| WALT DISNEY COMPANY | COMMON | 254687106 |  | 10260180 | 118096 | SH |  | SOLE | 1 | 86826 | 0 | 31270 |
| WARNER BROS DISCOVERY | COMMON | 934423104 |  | 108461 | 11441 | SH |  | SOLE | 1 | 9992 | 0 | 1449 |
| WASTE MGMT INC DEL | COMMON | 94106L109 |  | 2968483 | 18922 | SH |  | SOLE |  | 18744 | 0 | 178 |
| WATSCO INC | COMMON | 942622200 |  | 5967144 | 23926 | SH |  | SOLE | 1 | 19201 | 0 | 4725 |
| WEC ENERGY GROUP INC | COMMON | 92939U106 |  | 204866 | 2185 | SH |  | SOLE | 1 | 1600 | 0 | 585 |
| WELLS FARGO  CO | COMMON | 949746101 |  | 711220 | 17225 | SH |  | SOLE | 1 | 8725 | 0 | 8500 |
| WELLTOWER INC | COMMON | 95040Q104 |  | 317918 | 4850 | SH |  | SOLE |  | 4850 | 0 | 0 |
| WEYERHAEUSER CO | COMMON | 962166104 |  | 421755 | 13605 | SH |  | SOLE | 1 | 11970 | 0 | 1635 |
| WSFS FINL CORP | COMMON | 929328102 |  | 391375 | 8632 | SH |  | SOLE |  | 1800 | 0 | 6832 |
| YUM BRANDS INC | COMMON | 988498101 |  | 348121 | 2718 | SH |  | SOLE | 1 | 2588 | 0 | 130 |

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