-----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, CzgWtEqLgug8cpFzKf3rgzUF6Xk5yVRPknSVZSJw5HpjO2yjdWotQNTF5emSGsdZ R74C+HtJQXNeq5mdHXDRTQ== 0000919574-04-002380.txt : 20040816 0000919574-04-002380.hdr.sgml : 20040816 20040816123713 ACCESSION NUMBER: 0000919574-04-002380 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20040630 FILED AS OF DATE: 20040816 EFFECTIVENESS DATE: 20040816 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GARDNER RUSSO & GARDNER CENTRAL INDEX KEY: 0000860643 IRS NUMBER: 232673088 STATE OF INCORPORATION: PA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-02635 FILM NUMBER: 04977254 BUSINESS ADDRESS: STREET 1: 223 EAST CHESTNUT ST CITY: LANCASTER STATE: PA ZIP: 17602 BUSINESS PHONE: 7172991385 MAIL ADDRESS: STREET 1: GARDNER RUSSO & GARDNER CITY: LANCASTER STATE: PA ZIP: 17602 FORMER COMPANY: FORMER CONFORMED NAME: GARDNER INVESTMENTS DATE OF NAME CHANGE: 19990326 13F-HR 1 d506069_13f-hr.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 June 30, 2004 Check here if Amendment: |_|; Amendment Number: ____ This Amendment (Check only one): |_| is a restatement |_| adds new holding entries. Institutional Manager Filing this Report: Name: Gardner Russo & Gardner Address: 223 East Chestnut Street Lancaster, PA 17602 13F File Number: 28-2635 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: J. Phil Gibson Title: Trader Phone: (717) 299-1385 Signature, Place and Date of Signing: /s/ J. Phil Gibson Lancaster, PA August 16, 2004 - ----------------------- -------------------------- ---------------------- [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 reported are in this report, and all holdings are reported by other reporting managers(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).) 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: 446 Form 13F Information Table Value Total: $2,790,679 (thousands) List of Other Included Managers: None 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.] GARDNER RUSSO & GARDNER
(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) - ------ ----- ------ ----- ------ --- --- ------- --- --- --- ALTADIS SA COMMON A011040 3,440,886 111,536 X 64,036 0 47,500 RINKER GROUP LTD COMMON 6599386 1,232,000 220,000 X 110,000 0 110,000 CANON INC JPY COMMON 6172323 211,440 4,000 X 4,000 0 0 BAYERISCHE MOTOREN WERKEAG COMMON D12096109 33,240 750 X 500 0 250 PORSCHE AG-PFD PREFERR D61577108 469,113 699 X 524 0 175 EURO DISNEY SCA ORD DEP RCP COMMON F26387112 48 100 X 100 0 0 EURO DISNEY S C A WTS 07/11/04 WARRANT F26387161 1 100 X 100 0 0 JC DECAUS SA ACT COMMON F5333N100 42,800 2,000 X 0 0 2,000 SANOFI-SYNTHELABO SA COMMON F5548N101 31,690 500 X 0 0 500 PERNOD RICARD S A ORD COMMON F72027109 28,672,320 223,985 X 176,170 0 47,815 ACE LTD COMMON G0070K103 126,840 3,000 X 3,000 0 0 ALLIED DOMECQ PLC COMMON G0187V109 2,705,472 316,800 X 190,800 0 126,000 ASTRAZENECA PLC ORD COMMON G0593M107 31,402 700 X 0 0 700 ACCENTURE LTD SHS CL A COMMON G1150G111 82,440 3,000 X 0 0 3,000 BRITISH AMER TOBACCO PLC COMMON G1510J102 3,977,384 256,440 X 161,190 0 95,250 CADBURY SCHWEPPES ORD COMMON G17444152 34,199,784 3,962,895 X 3,200,210 0 762,685 FIRST PAC LTD ORD COMMON G34804107 13,474 61,245 X 61,245 0 0 DIAGEO PLC COMMON G42089113 65,781,489 4,876,315 X 3,996,783 0 879,532 RENAISSANCERE HLDGS LTD COMMON G7496G103 9,441 175 X 0 0 175 ROYAL BK SCOTLAND PLC SHS COMMON G76891111 28,790 1,000 X 0 0 1,000 NOVARTIS AG NAMEN AKT COMMON H5820Q150 35,288 800 X 0 0 800 PARGESA HOLDING AG - B COMMON H60477132 3,744,855 1,390 X 650 0 740 ITO YOKADO CO COMMON JP3142800 85,860 2,000 X 2,000 0 0 KAO CORP JPY COMMON JP3205800 181,350 7,500 X 7,500 0 0 SONY CORP Y COMMON JP3435000 113,340 3,000 X 3,000 0 0 NISSAN MOTOR CO LTD COMMON J57160129 18,702 1,800 X 0 0 1,800 SMC CORP COMMON J75734103 10,907 100 X 0 0 100 VESTAS WIND SYSTEMS A/S COMMON K9773J128 54,390 3,700 X 0 0 3,700 SCHIBSTED A/S COMMON MS164618 1,228,065 68,454 X 53,757 0 14,697 HEINEKEN HLDG N V ORD-A COMMON N39338178 140,709,443 4,797,458 X 3,899,272 0 898,186 TELEGRAAF HOLDING CVA COMMON N41207114 106,741,052 4,775,886 X 3,829,513 0 946,373 HUNTER DOUGLAS NV COMMON N4327C122 48,720 1,000 X 1,000 0 0 WEGENER NV COMMON N5213D116 12,958,253 1,349,818 X 1,115,818 0 234,000 VNU N V COMMON N93612104 1,017,450 35,000 X 35,000 0 0 WAL-MART DE MEXICO S A COMMON P98180105 88,800 30,000 X 0 0 30,000 GAMBRO AB-A SHS COMMON W4308Q108 17,460 1,800 X 0 0 1,800 SWEDISH MATCH AB COMMON W92277115 9,794,366 957,416 X 618,916 0 338,500 PORTUGAL TELCM SGPS SA ORD COMMON X6769Q104 16,185 1,500 X 0 0 1,500 LOREAL SA COMMON 12032 199,900 2,500 X 2,500 0 0 ACNB CORP COMMON 868109 20,400 800 X 300 0 500 ROCHE HOLDING AG COMMON 1203204 199,440 2,000 X 2,000 0 0 AES CORP COMMON 00130H105 441,885 44,500 X 6,000 0 38,500 AT&T CORP NEW COMMON 1957505 14,937 1,021 X 600 0 421 ABBOTT LABS COMMON 2824100 15,810,030 387,881 X 370,136 0 17,745 AES TR III TR P CV SC 6. 750% CONVERT 00808N202 239,742 5,700 X 0 0 5,700 AGERE SYSTEMS INC CL A COMMON 00845V100 62 27 X 0 0 27 AGERE SYSTEMS INC CL B COMMON 00845V209 1,034 481 X 0 0 481 ALBERTSONS INC COMMON 13104104 1,254,015 47,250 X 45,750 0 1,500 ALCOA INC COMMON 13817101 396,756 12,012 X 9,964 0 2,048 ALLEGHANY CORP COMMON 17175100 295,897 1,031 X 200 0 831 ALLIED DOMECQ PLC SPONS ADR COMMON 19121201 346,900 10,000 X 10,000 0 0 ALLSTATE CORP COMMON 20002101 188,528 4,050 X 4,050 0 0 ALTRIA GROUP INC COMMON 02209S103 154,455,952 3,086,033 X 2,533,028 0 553,005 AMBAC FINL GROUP INC COMMON 23139108 1,028,160 14,000 X 13,500 0 500 AMERADA HESS CORP COMMON 23551104 158,380 2,000 X 0 0 2,000 AMERICAN EXPRESS CO COMMON 25816109 3,159,716 61,497 X 40,029 0 21,468 AMERICAN INTL GROUP INC COMMON 26874107 93,447,438 1,310,991 X 1,042,499 0 268,492 AMERICAN SATELLITE NETWORK 06/ WARRANT 02937P116 0 42,205 X 39,630 0 2,575 AMERICAN TOWER CORP CL A COMMON 29912201 1,413,600 93,000 X 4,000 0 89,000 AMERICAN WOODMARK CORP COMMON 30506109 29,925 500 X 0 0 500 AMGEN INC COMMON 31162100 178,717 3,275 X 1,775 0 1,500 AMSOUTH BAN CORPORATION COMMON 32165102 101,880 4,000 X 1,250 0 2,750 ANADARKO PETE CORP COMMON 32511107 28,480 486 X 486 0 0 ANHEUSER-BUSCH COS INC COMMON 35229103 10,176,840 188,460 X 116,270 0 72,190 ANTHEM INC COMMON 03674B104 9,135 102 X 0 0 102 AON CORP COMMON 37389103 21,353 750 X 750 0 0 APPLERA CORP CELERA GEN COMMON 38020202 6,906 600 X 0 0 600 APTARGROUP INC COMMON 38336103 1,464,751 33,526 X 11,426 0 22,100 ARCTIC CAT INC COMMON 39670104 379,914 13,800 X 3,500 0 10,300 ARIEL FD SH BEN INT MUTUAL 40337107 2,582 54 X 54 0 0 ARIEL FD CALV ARIEL APP MUTUAL 40337206 2,507 56 X 56 0 0 ARIEL FD PREMIER GR INV MUTUAL 40337602 1,167 126 X 126 0 0 ARMSTRONG HOLDINGS COMMON 42384107 642 483 X 483 0 0 ASTRAZENECA PLC ADR SPON COMMON 46353108 2,282 50 X 50 0 0 AUTOMATIC DATA PROCESSING COMMON 53015103 775,827 18,525 X 18,525 0 0 AVERY DENNISON CORP COMMON 53611109 86,414 1,350 X 1,350 0 0 BB&T CORP COMMON 54937107 419,425 11,345 X 11,345 0 0 BP PLC ADR COMMON 55622104 1,932,216 36,069 X 14,149 0 21,920 BAKER HUGHES INC COMMON 57224107 18,825 500 X 0 0 500 BANK AMER CORP COMMON 60505104 4,187,844 49,490 X 48,800 0 690 BANK ONE CORP COMMON 06423A103 33,048 648 X 0 0 648 BAXTER INTL INC COMMON 71813109 8,628 250 X 250 0 0 BELLSOUTH CORP COMMON 79860102 187,001 7,132 X 5,600 0 1,532 BELO A H CORP COMMON 80555105 1,419,023 52,850 X 28,750 0 24,100 BERKSHIRE HATHAWAY COMMON 84670108 228,779,400 2,572 X 1,971 0 601 BERKSHIRE HATHAWAY CL B COMMON 84670207 43,299,615 14,653 X 10,902 0 3,751 BLOCK H & R INC COMMON 93671105 86,585,879 1,815,979 X 1,441,083 0 374,896 BOEING CO COMMON 97023105 10,218 200 X 200 0 0 BRISTOL MYERS SQUIBB CO COMMON 110122108 459,694 18,763 X 15,563 0 3,200 BROWN-FORMAN CORP CL A COMMON 115637100 60,459,489 1,258,262 X 1,031,223 0 227,039 BROWN-FORMAN CORP CL B COMMON 115637209 15,952,125 330,477 X 256,707 0 73,770 BURLINGTON RESOURCES INC COMMON 122014103 14,472 400 X 400 0 0 BURNHAM HLDGS INC CL A COMMON 122295108 107,576 3,842 X 3,842 0 0 CABLEVISION SYS CORP COMMON 12686C109 171,938 8,750 X 8,750 0 0 CADBURY SCHWEPPES-SPONS ADR COMMON 127209302 228,020 6,500 X 6,500 0 0 CALLAWAY GOLF CO COMMON 131193104 57 5 X 5 0 0 CAMPBELL SOUP CO COMMON 134429109 88,704 3,300 X 3,300 0 0 CANFOR CORPORATION COMMON 137902102 158,907 14,100 X 0 0 14,100 CARLISLE COMPANIES INC COMMON 142339100 2,606,345 41,869 X 38,769 0 3,100 CATERPILLAR INC COMMON 149123101 7,944 100 X 100 0 0 CENTERPOINT ENERGY INC COMMON 15189T107 9,200 800 X 800 0 0 CENTRAL VT PUB SVC PFD PREFERR 155771306 2,900 50 X 0 0 50 CERTEGY INC COMMON 156880106 391,880 10,100 X 9,725 0 375 CHEVRONTEXACO CORP COMMON 166764100 1,373,724 14,597 X 14,105 0 492 CHOICEPOINT INC COMMON 170388102 54,792 1,200 X 1,200 0 0 CINCINNATI FINL CORP COMMON 172062101 18,278 420 X 0 0 420 CISCO SYS INC COMMON 17275R102 4,344,376 183,307 X 183,307 0 0 CITIGROUP COMMON 172967101 65,115,531 1,400,334 X 1,162,035 0 238,299 CITIGROUP CAP VI 6.875% TR PFD PREFERR 17305L208 12,360 500 X 500 0 0 CLIPPER FD INC MUTUAL 188850101 15,551 177 X 177 0 0 COCA-COLA CO COMMON 191216100 2,050,397 40,618 X 14,623 0 25,995 COLGATE PALMOLIVE CO COMMON 194162103 81,830 1,400 X 0 0 1,400 COLUMBIA ACORN TR INTL CL Z MUTUAL 197199813 2,195 90 X 90 0 0 COMCAST CORP NEW CL A COMMON 20030N101 164,975 5,871 X 4,804 0 1,067 COMCAST CORP CL A SPL COMMON 20030N200 93,575,895 3,389,203 X 2,644,440 0 744,763 COMMONWEALTH TEL ENTERPR COMMON 203349105 64,469 1,440 X 240 0 1,200 COMMUNITY FIRST BANKSHARES COMMON 203902101 147,752 4,590 X 1,530 0 3,060 CIE FINANC RICHEMONT ADR COMMON 204318109 326,250 12,500 X 12,500 0 0 CONOCOPHILLIPS COMMON 20825C104 814,396 10,675 X 10,208 0 467 COOLBRANDS INTL INC COMMON 21639P208 94,700 5,000 X 0 0 5,000 CORNING INC COMMON 219350105 15,019 1,150 X 1,150 0 0 CORTEX PHARMACEUTICALS INC COMMON 220524300 21,040 8,000 X 0 0 8,000 COSTCO WHSL CORP COMMON 22160K105 520,927 12,650 X 8,850 0 3,800 COX COMMUNICATIONS CL A COMMON 224044107 330,701 11,900 X 5,500 0 6,400 CRANE COMMON 224399105 6,355,816 202,479 X 156,379 0 46,100 CRESCENT FINANCIAL CORP COMMON 225744101 4,507 348 X 348 0 0 D & E COMMUNICATIONS INC COMMON 232860106 5,368 400 X 400 0 0 DANAHER CORP COMMON 235851102 14,518 280 X 280 0 0 DEAN FOODS INC COMMON 242370104 83,948 2,250 X 2,250 0 0 DEERE & CO COMMON 244199105 157,815 2,250 X 2,250 0 0 DEL MONTE FOODS CO COMMON 24522P103 27,219 2,679 X 2,679 0 0 DELAWARE GROUP DEL FD INC MUTUAL 246093108 32,417 2,078 X 2,078 0 0 DELPHI FINL GROUP INC CLA COMMON 247131105 166,875 3,750 X 3,750 0 0 DENTSPLY INTL INC COMMON 249030107 26,050 500 X 500 0 0 DEVON ENERGY CORP COMMON 25179M103 6,204,000 94,000 X 94,000 0 0 DIAGEO PLC SPONSORED ADR COMMON 25243Q205 13,727,851 250,737 X 190,691 0 60,046 DIMON INC COMMON 254394109 1,998,854 349,450 X 321,750 0 27,700 DISNEY WALT PRODUCTIONS COMMON 254687106 1,431,697 56,167 X 52,413 0 3,754 DONNELLEY R R & SONS CO COMMON 257867101 7,077,375 214,336 X 137,923 0 76,413 DOVER CORP COMMON 260003108 2,829,752 67,215 X 36,315 0 30,900 DOW JONES & CO INC COMMON 260561105 36,080 800 X 0 0 800 DRUGSTORE COM INC COMMON 262241102 17,350 5,000 X 0 0 5,000 DU PONT E I DE NEMOURS COMMON 263534109 362,778 8,167 X 8,167 0 0 EP MEDSYSTEMS INC COMMON 26881P103 44,700 15,000 X 0 0 15,000 ECHOSTAR COMM CORP CL A COMMON 278762109 922,500 30,000 X 30,000 0 0 ENCANA CORP COMMON 292505104 3,398,936 78,752 X 78,752 0 0 ENCORE WIRE CORP COMMON 292562105 358,800 13,000 X 8,000 0 5,000 ENSTAR GROUP INC GA COMMON 29358R107 62,436 1,200 X 1,200 0 0 ENTERGY CORP NEW COMMON 29364G103 7,449 133 X 0 0 133 EQUIFAX INC COMMON 294429105 549,450 22,200 X 21,450 0 750 ESCO TECHNOLOGIES INC COMMON 296315104 149,408 2,800 X 0 0 2,800 EVERGREEN INTER MUNI CL I MUTUAL 299908509 635,709 10,713 X 10,713 0 0 EVERGREEN TR STRAT GRT CL I MUTUAL 299909408 46,274 1,837 X 1,837 0 0 EVERGREEN PA MUNI BD CL Y MUTUAL 300326402 1,642,860 145,129 X 145,129 0 0 EXPEDITORS INTL WASH INC COMMON 302130109 1,341,482 27,150 X 22,050 0 5,100 EXXON MOBIL CORPORATION COMMON 30231G102 17,215,803 387,656 X 124,327 0 263,329 FPA FDS TR FPA CRESC INSTL MUTUAL 30254T759 2,465 107 X 107 0 0 FPL GROUP INC COMMON 302571104 159,875 2,500 X 2,000 0 500 FAIRHOLME FDS INC MUTUAL 304871106 2,487 126 X 126 0 0 FARGO ELECTRONICS INC COMMON 30744P102 11,120 1,000 X 0 0 1,000 FASTENAL CO COMMON 311900104 71,038 1,250 X 1,250 0 0 FREDDIE MAC COMMON 313400301 16,165,997 255,387 X 185,607 0 69,780 FEDEX CORP COMMON 31428X106 122,535 1,500 X 1,500 0 0 FIDELITY NAT FINL CORP COMMON 316326107 87,226 2,336 X 2,336 0 0 FID-LOW PRICED STOCK MUTUAL 316345305 11,247 300 X 300 0 0 FID-SELECT HEALTH CARE MUTUAL 316390301 12,436 100 X 100 0 0 FID-SELECT NAT GAS MUTUAL 316390525 18,930 750 X 750 0 0 FID-SELECT BANKING PORT MUTUAL 316390640 9,976 256 X 256 0 0 FID-SELECT BIOTECH MUTUAL 316390772 19,104 325 X 325 0 0 FIFTH THIRD BANCORP COMMON 316773100 4,775,126 88,790 X 66,315 0 22,475 FIRST CHESTER CNTY CORP COMMON 31947W100 1,279,200 52,000 X 52,000 0 0 FIRST DATA CORP COMMON 319963104 456,330 10,250 X 6,850 0 3,400 FIRST EAGLE SOGEN FDS INC MUTUAL 32008F507 3,114 89 X 89 0 0 FORTUNE BRANDS INC COMMON 349631101 15,086 200 X 200 0 0 FOSSIL INC COMMON 349882100 4,088 150 X 150 0 0 FULLER H B CO COMMON 359694106 35,500 1,250 X 1,250 0 0 FULTON FINL CORP COMMON 360271100 1,347,753 66,886 X 43,613 0 23,273 GALLAHER GROUP PLC SPS ADR COMMON 363595109 58,080 1,200 X 900 0 300 GANNETT INC COMMON 364730101 14,040,554 165,475 X 103,175 0 62,300 GENERAL DYNAMICS CORP COMMON 369550108 1,474,605 14,850 X 14,850 0 0 GENERAL ELEC CO COMMON 369604103 11,954,693 368,972 X 104,572 0 264,400 GENERAL MTRS CORP COMMON 370442105 9,318 200 X 200 0 0 GENERAL MTRS CORP 7.375%SR NT PREFERR 370442766 12,375 500 X 500 0 0 GENERAL MTRS CORP 7.25% SR NT PREFERR 370442774 12,175 500 X 500 0 0 GILLETTE CO COMMON 375766102 214,120 5,050 X 4,000 0 1,050 GLATFELTER P H CO COMMON 377316104 16,896 1,200 X 400 0 800 GLAXOSMITHKLINE PLC ADR COMMON 37733W105 88,103 2,125 X 625 0 1,500 GOLDEN WEST FINL CORP DEL COMMON 381317106 21,270 200 X 0 0 200 GOLDMAN SACHS GROUP INC COMMON 38141G104 11,770 125 X 125 0 0 GREY GLOBAL GROUP COMMON 39787M108 6,156,250 6,250 X 5,750 0 500 GREY GLOBAL GROUP DUR B COMMON 39787M207 425,000 500 X 500 0 0 GROUPE DANONE ADR SPONS COMMON 399449107 3,901,773 222,450 X 157,550 0 64,900 GUIDANT CORP COMMON 401698105 3,919,423 70,140 X 70,140 0 0 HCA INC COMMON 404119109 1,181,156 28,400 X 24,400 0 4,000 HCC INS HLDGS INC COMMON 404132102 25,058 750 X 750 0 0 HARLEY DAVIDSON INC COMMON 412822108 65,347 1,055 X 1,055 0 0 HARLEYSVILLE NATL CORP PA COMMON 412850109 3,866 151 X 0 0 151 OAKMARK FUND - CLASS I MUTUAL 413838103 2,881 74 X 74 0 0 HARTE HANKS INC COMMON 416196103 579,738 23,750 X 23,750 0 0 HASBRO INC COMMON 418056107 73,150,912 3,850,048 X 3,094,103 0 755,945 HEALTHEXTRAS INC COMMON 422211102 149,130 9,000 X 0 0 9,000 HEARTLAND EXPRESS INC COMMON 422347104 932,976 34,100 X 32,500 0 1,600 HEINEKEN NV UNSPONS ADR COMMON 423012202 4,035,372 122,805 X 41,668 0 81,137 HEINZ H J COMPANY COMMON 423074103 120,540 3,075 X 3,075 0 0 AVISHUSET DAGBLADET NOK2 COMMON 4250135 7,545,099 116,329 X 92,605 0 23,724 HERSHEY FOODS CORP COMMON 427866108 435,401 9,410 X 8,610 0 800 HILLENBRAND INDS INC COMMON 431573104 6,939,781 114,802 X 86,950 0 27,852 SYNGENTA AG COMMON 4356646 253,320 3,000 X 3,000 0 0 HOME DEPOT INC COMMON 437076102 132,000 3,750 X 2,250 0 1,500 HONDA MTR LTD COMMON 438128308 21,888 900 X 0 0 900 HONEYWELL INTL INC COMMON 438516106 10,989 300 X 300 0 0 HORMEL FOODS CORP COMMON 440452100 17,493,750 562,500 X 410,500 0 152,000 HOSPIRA INC COMMON 441060100 1,013,113 36,707 X 35,877 0 830 HUDSON HIGHLAND GROUP INC COMMON 443792106 8,033 262 X 0 0 262 HUDSON UTD BANCORP COMMON 444165104 83,880 2,250 X 0 0 2,250 TAMEDIA AG COMMON 4498816 3,177,384 35,450 X 21,550 0 13,900 NEUE ZUERCHER ZEITUNG COMMON 4575827 390,467 6 X 3 0 3 INTEL CORP COMMON 458140100 491,970 17,825 X 17,825 0 0 INTERACTIVECORP COMMON 45840Q101 90,420 3,000 X 3,000 0 0 I B M COMMON 459200101 449,565 5,100 X 1,600 0 3,500 INTL FLAVORS & FRAGRANCES COMMON 459506101 1,125,740 30,100 X 23,800 0 6,300 INTERNAT'L SPEEDWAY CL A COMMON 460335201 11,980,275 246,305 X 201,590 0 44,715 INTERNAT'L SPEEDWAY CL B COMMON 460335300 15,850,140 326,807 X 275,056 0 51,751 INTUIT INC COMMON 461202103 761,955 19,750 X 19,750 0 0 IPRINT TECHNOLOGIES INC COMMON 462628108 4 600 X 600 0 0 ISHARES TR S&P MDCP400 IDX MUTUAL 464287507 12,160 100 X 100 0 0 ISHARES TR S&P SMCP600 IDX MUTUAL 464287804 14,720 100 X 100 0 0 J.P. MORGAN CHASE & CO COMMON 46625H100 19,385 500 X 200 0 300 JEFFERSON PILOT CORP COMMON 475070108 25,400 500 X 500 0 0 JOHNSON & JOHNSON COMMON 478160104 8,234,799 147,842 X 116,513 0 31,329 KT CORP SPONSORED ADR COMMON 48268K101 18,040 1,000 X 0 0 1,000 PHILIP MORRIS CR AS COMMON 4874546 5,897,063 9,698 X 7,758 0 1,940 KELLOGG CO COMMON 487836108 83,700 2,000 X 2,000 0 0 KIMBERLY CLARK CORP COMMON 494368103 312,930 4,750 X 4,750 0 0 KINROSS GOLD CORP COMMON 496902206 109,810 19,750 X 0 0 19,750 KNIGHT RIDDER COMMON 499040103 28,800 400 X 0 0 400 KRAFT FOODS INC CL A COMMON 50075N104 54,314,505 1,714,473 X 1,423,942 0 290,531 KROGER CO COMMON 501044101 226,590 12,450 X 10,050 0 2,400 LACLEDE GROUP INC COMMON 505597104 11,128 406 X 0 0 406 LAFARGE NORTH AMERICA COMMON 505862102 20,568 475 X 0 0 475 NORGES HANDELS OG SJOF COMMON 5068627 1,485,035 17,172 X 16,522 0 650 LANCASTER COLONY CORP COMMON 513847103 20,820 500 X 0 0 500 LEE ENTERPRISES INC COMMON 523768109 2,185,655 45,525 X 35,775 0 9,750 LEUCADIA NATL CORP COMMON 527288104 1,581,056 31,812 X 28,812 0 3,000 LEVEL 3 COMMUNICATIONS COMMON 52729N100 351 100 X 100 0 0 LEXINGTON CORP PPTYS TR COMMON 529043101 1,095,050 55,000 X 12,000 0 43,000 BIC COMMON 5298781 1,661,715 37,300 X 17,300 0 20,000 LIBERTY MEDIA CORP CL A COMMON 530718105 37,758 4,200 X 3,500 0 700 LIBERTY MEDIA INTL INC CL A COMMON 530719103 7,791 210 X 175 0 35 LILLY, ELI AND COMPANY COMMON 532457108 2,258,093 32,300 X 0 0 32,300 AVISHUSET DAGBLADET PFD PREFERR 5326057 251,916 3,884 X 201 0 3,683 LONGLEAF PARTNERS FUND MUTUAL 543069108 34,608 1,120 X 1,120 0 0 LONGLEAF PARTNERS FDS MUTUAL 543069405 3,135 209 X 209 0 0 LOWES COS INC COMMON 548661107 39,413 750 X 0 0 750 LUCENT TECHNOLOGIES INC COMMON 549463107 40,900 10,820 X 1,000 0 9,820 M & T BK CORP COMMON 55261F104 183,243 2,099 X 2,099 0 0 MGI PHARMA INC COMMON 552880106 97,236 3,600 X 2,000 0 1,600 MANPOWER INC WIS COMMON 56418H100 203,080 4,000 X 4,000 0 0 MARKEL CORP COMMON 570535104 21,249,563 76,575 X 51,240 0 25,335 MARSH MCLENNAN COMMON 571748102 2,650,192 58,400 X 56,000 0 2,400 MARSHALL & ILSLEY CORP COMMON 571834100 58,635 1,500 X 1,500 0 0 MARSHALL INTER BOND FUND MUTUAL 572353506 27,746 2,958 X 2,958 0 0 MARSHALL GOVT INC FUND MUTUAL 572353605 27,911 2,938 X 2,938 0 0 MARTIN MARIETTA MTLS INC COMMON 573284106 86,281,607 1,946,348 X 1,556,088 0 390,260 MASCO CORP COMMON 574599106 9,042 290 X 0 0 290 MASSBANK CORP READING MASS COMMON 576152102 6,922 200 X 200 0 0 MASTERS SELECT EQUITY FUND MUTUAL 576417109 75,342 5,265 X 5,265 0 0 MASTERS SELECT INT'L FUND MUTUAL 576417208 22,260 1,501 X 1,501 0 0 MASTERS SELECT FDS SMALLER COS MUTUAL 576417307 3,148 236 X 236 0 0 MASTERS SELECT FDS VALUEFD MUTUAL 576417406 3,160 232 X 232 0 0 MATTEL INC COMMON 577081102 1,031,125 56,500 X 40,000 0 16,500 MCCLATCHY COMPANY CL A COMMON 579489105 63,406,270 903,867 X 717,780 0 186,087 MCCORMICK & CO INC COMMON 579780206 4,331,600 127,400 X 75,800 0 51,600 MCDONALDS CORP COMMON 580135101 2,815,852 108,302 X 58,874 0 49,428 MCGRAW HILL COMPANIES INC COMMON 580645109 277,566 3,625 X 0 0 3,625 MCKESSON HBOC INC COMMON 58155Q103 20,598 600 X 600 0 0 MEDCO HEALTH SOLUTIONS INC COMMON 58405U102 27,938 745 X 724 0 21 MEDIMMUNE INC COMMON 584699102 3,040,700 130,000 X 130,000 0 0 MEDTRONIC INC COMMON 585055106 221,676 4,550 X 4,550 0 0 MELLON FINL CORP COMMON 58551A108 2,096,274 71,472 X 53,352 0 18,120 MERCK & CO INC COMMON 589331107 2,967,610 62,476 X 9,311 0 53,165 MERCURY GEN CORP COMMON 589400100 4,031,580 81,200 X 49,450 0 31,750 MERITOR SVGS BK PA COMMON 590007100 10,020 3,000 X 0 0 3,000 MERRILL LYNCH & CO INC COMMON 590188108 8,097 150 X 150 0 0 MESA RTY TR COMMON 590660106 1,242,000 23,000 X 23,000 0 0 MICROSOFT CORP COMMON 594918104 3,384,988 118,522 X 118,352 0 170 HERMAN MILLER INC COMMON 600544100 20,969,403 724,582 X 482,840 0 241,742 MOHAWK INDS INC COMMON 608190104 1,257,610 17,150 X 12,250 0 4,900 MOLEX INC CL A COMMON 608554200 68,200 2,500 X 2,500 0 0 MONSANTO CO COMMON 61166W101 305,459 7,934 X 7,792 0 142 MONSTER WORLDWIDE INC COMMON 611742107 51,440 2,000 X 0 0 2,000 MORGAN STANLEY DEAN WITTER COMMON 617446448 58,733 1,113 X 625 0 488 MORGAN STANLEY GOVT INC TR MUTUAL 61745P106 69,360 8,000 X 8,000 0 0 MORGAN STANLEY CAP TR III 6.25 PREFERR 617460209 11,365 500 X 500 0 0 MUNIHOLDINGS FLA INSD FD COMMON 62624W105 71,651 5,211 X 5,211 0 0 MURPHY OIL CORP COMMON 626717102 792,275 10,750 X 10,750 0 0 MYLAN LABS INC COMMON 628530107 83,531 4,125 X 0 0 4,125 NATIONAL CITY CORP COMMON 635405103 689,697 19,700 X 11,700 0 8,000 NATIONAL PENN BANCSHARES COMMON 637138108 83,361 2,803 X 2,803 0 0 NATL WESTMIN BK PLC PFD 7.88% PREFERR 638539809 12,491 491 X 491 0 0 NESTLE REG ADR COMMON 641069406 154,808,673 2,322,014 X 1,820,434 0 501,580 NEW YORK TIMES CO CL A COMMON 650111107 576,088 12,885 X 10,885 0 2,000 NEWELL RUBBERMAID INC. COMMON 651229106 7,403 315 X 0 0 315 NEWMONT MNG CORP COMMON 651639106 58,140 1,500 X 1,500 0 0 NEWSCORP LTD SPON ADR COMMON 652487802 6,576 200 X 0 0 200 NOKIA CORP SPONS ADR COMMON 654902204 287,892 19,800 X 17,800 0 2,000 NORFOLK SOUTHN CORP COMMON 655844108 23,868 900 X 900 0 0 NORSK HYDRO A S ADR COMMON 656531605 26,180 400 X 0 0 400 NORTEL NETWORKS CORP COMMON 656568102 998 200 X 0 0 200 NORTHERN TRUST CORP COMMON 665859104 247,338 5,850 X 5,650 0 200 NUCOR CORP COMMON 670346105 15,352 200 X 200 0 0 NUVEEN MUN VALUE FD INC COMMON 670928100 8,770 1,000 X 0 0 1,000 NUVEEN PA INVT QUAL MUN FD COMMON 670972108 22,135 1,630 X 1,630 0 0 OAK VALUE TR MUTUAL 67181Q102 3,395 117 X 117 0 0 PARTRIDGE FINE ART ORD COMMON 673231BLA 609,953 544,601 X 527,979 0 16,622 OFFICE DEPOT INC COMMON 676220106 7,126,389 397,900 X 311,300 0 86,600 OMNICOM GROUP COMMON 681919106 4,128,416 54,400 X 48,500 0 5,900 ORACLE CORP COMMON 68389X105 26,843 2,250 X 750 0 1,500 PIMCO FD PAC INVT MGMT CL B MUTUAL 693390437 202,479 19,030 X 19,030 0 0 PNC BANK CORP COMMON 693475105 600,335 11,310 X 9,310 0 2,000 PPL CORP COMMON 69351T106 68,850 1,500 X 1,000 0 500 PARKER HANNIFIN CORP COMMON 701094104 29,730 500 X 500 0 0 PEABODY ENERGY CORP COMMON 704549104 55,990 1,000 X 0 0 1,000 PENNROCK FINAN'L SVCS COMMON 708352109 257,968 8,542 X 8,542 0 0 HEINEKEN NV COMMON 7108048 37,013 1,125 X 0 0 1,125 PARMALAT FINANZIARA SPA COMMON 7128369 3,575 27,500 X 27,500 0 0 PEPSICO INC COMMON 713448108 8,792,408 163,185 X 105,708 0 57,477 PERNOD RICARD S A ADR SPON COMMON 714264108 223,720 7,000 X 7,000 0 0 CIE FINANC RICHEMONT A-SW COMMON 7151116 73,933,990 2,831,635 X 2,331,955 0 499,680 PETROCHINA CO LTD SPNS ADR COMMON 7.16E+104 37,272 805 X 670 0 135 PFIZER INC COMMON 717081103 4,126,421 120,374 X 104,653 0 15,721 PIONEER NAT RES CO COMMON 723787107 70,160 2,000 X 0 0 2,000 PITNEY BOWES INC COMMON 724479100 107,528 2,430 X 1,680 0 750 PLACER DOME INC COMMON 725906101 72,384 4,350 X 0 0 4,350 READYMIX ORD COMMON 726782BLA 4,968,865 2,601,500 X 2,238,730 0 362,770 PONTIAC BANCORP INC COMMON 732490107 7,425 55 X 55 0 0 POZEN INC COMMON 73941U102 20,550 3,000 X 0 0 3,000 PRICE T ROWE GROUP INC COMMON 74144T108 95,760 1,900 X 0 0 1,900 PRICELINE.COM COMMON 741503403 431 16 X 16 0 0 PROCTER & GAMBLE CO COMMON 742718109 2,811,282 51,640 X 35,220 0 16,420 PROGRESSIVE CORP OHIO COMMON 743315103 23,600,207 276,673 X 200,193 0 76,480 PROLOGIS TR SH BEN INT COMMON 743410102 40,722 1,237 X 0 0 1,237 PROTECTIVE LIFE CORP COMMON 743674103 19,335 500 X 500 0 0 PROVIDIAN FINL CORP COMMON 74406A102 14,670 1,000 X 0 0 1,000 RAYTHEON CO COMMON 755111507 5,580 156 X 156 0 0 RELIANT RES INC COMMON 75952B105 14,491 1,338 X 1,338 0 0 RITE AID CORP COMMON 767754104 96,570 18,500 X 4,500 0 14,000 ROBBINS & MYERS 8.000% 0 1/31/2000 CONVERT 770196AB9 8,320 8,000 X 8,000 0 0 ROSS STORES INC COMMON 778296103 4,005,811 149,694 X 149,694 0 0 ROWE T PRICE EQUITY FD MUTUAL 779547108 46,202 1,857 X 1,857 0 0 ROYAL DUTCH PETRO-NY SHRS COMMON 780257804 3,107,227 60,136 X 42,616 0 17,520 SBC COMMUNICATIONS INC COMMON 78387G103 98,067 4,044 X 3,000 0 1,044 INTERMEDIATE GOVT TRUST MUTUAL 783965742 843 81 X 0 0 81 SLM CORP COMMON 78442P106 32,360 800 X 0 0 800 SAFEWAY INC COMMON 786514208 30,408 1,200 X 1,000 0 200 ST JOE CO COMMON 790148100 1,548,300 39,000 X 39,000 0 0 ST PAUL TRAVELERS INC COMMON 792860108 844,529 20,832 X 17,813 0 3,019 SAMSUNG ELECTRONICS LTD COMMON 796050888 61,920 300 X 0 0 300 SCHERING PLOUGH CORP COMMON 806605101 92,400 5,000 X 5,000 0 0 SCHLUMBERGER LTD COMMON 806857108 628,749 9,900 X 9,650 0 250 SCHULMAN A INC COMMON 808194104 203,489 9,469 X 9,469 0 0 SCHWAB CHARLES CORP COMMON 808513105 768,800 80,000 X 80,000 0 0 SCHWEITZER-MAUDUIT INTL COMMON 808541106 55,296,707 1,805,312 X 1,475,358 0 329,954 SCOTTS CO CL A COMMON 810186106 11,530,340 180,500 X 135,650 0 44,850 E W SCRIPPS CO CL A COMMON 811054204 119,358,330 1,136,746 X 903,511 0 233,235 SEAGATE TECGBIKIGT INC ESCROW WARRANT 811804988 0 200 X 0 0 200 SEALED AIR CORP COMMON 81211K100 213,080 4,000 X 4,000 0 0 SHELL TRANS & TRAD PLC NY COMMON 822703609 318,711 7,130 X 7,130 0 0 SMITHFIELD FOODS INC COMMON 832248108 252,840 8,600 X 7,600 0 1,000 SMUCKER J M CO COMMON 832696405 299,333 6,520 X 3,077 0 3,443 SONY CORP ADR COMMON 835699307 2,854 75 X 75 0 0 SOUTHERN UNION CO COMMON 844030106 60,984 2,893 X 2,893 0 0 SOVEREIGN BANCORP INC COMMON 845905108 23,669 1,071 X 200 0 871 STARBUCKS CORP COMMON 855244109 87 2 X 0 0 2 STATOIL ASA SPONSORED ADR COMMON 85771P102 22,260 1,750 X 0 0 1,750 STEPAN CO COMMON 858586100 59,727 2,284 X 0 0 2,284 STERLING FINL CORP COMMON 859317109 152,614 5,863 X 5,863 0 0 STURM RUGER & CO INC COMMON 864159108 38,752 3,200 X 0 0 3,200 SUN MICROSYSTEMS INC COMMON 866810104 6,361,610 1,469,194 X 1,469,194 0 0 SUNCOR ENERGY INC COMMON 867229106 345,735 13,500 X 0 0 13,500 SUSQUEHANNA BANCSHRS INC COMMON 869099101 296,838 11,798 X 6,988 0 4,810 SWEDISH MATCH AB SPONS ADR COMMON 870309507 303,180 3,000 X 3,000 0 0 SYSCO CORPORATION COMMON 871829107 138,100 3,850 X 1,100 0 2,750 TJX COS INC COMMON 872540109 1,585,998 65,700 X 58,200 0 7,500 TXU CORP COMMON 873168108 6,482 160 X 0 0 160 TARGET CORP COMMON 87612E106 82,817 1,950 X 1,500 0 450 TELEFONICA S A ADR SPSD COMMON 879382208 45 1 X 1 0 0 TEMPLETON GLOBAL INCOME FD COMMON 880198106 5,560 702 X 0 0 702 THIRD AVE VALUE FD INC MUTUAL 884116104 3,554 77 X 77 0 0 THIRD AVE SM CAP VALUE FD MUTUAL 884116203 3,191 155 X 155 0 0 3M COMPANY COMMON 88579Y101 45,905 510 X 0 0 510 TIFFANY & CO COMMON 886547108 44,220 1,200 X 1,200 0 0 TIME WARNER INC COMMON 887317105 196,896 11,200 X 11,200 0 0 TOKHEIM CORP WT SER C 49 0.5 WARRANT 889073136 0 200 X 200 0 0 TOOTSIE ROLL INDS INC COMMON 890516107 40,983 1,261 X 0 0 1,261 TORCHMARK CORP COMMON 891027104 290,520 5,400 X 4,000 0 1,400 TOTAL FINA ELF S A ADR COMMON 89151E109 336,280 3,500 X 3,500 0 0 TOYS "R" US INC COMMON 892335100 6,260 393 X 393 0 0 TRIBUNE CO COMMON 896047107 140,491 3,085 X 2,935 0 150 TWEEDY BROWNE FD GLOBAL MUTUAL 901165100 4,835 221 X 221 0 0 TWEEDY BROWNE FD AMERICAN MUTUAL 901165209 2,983 122 X 122 0 0 TYCO INTL LTD COMMON 902124106 13,853 418 X 418 0 0 UST INC COMMON 902911106 77,121,216 2,142,256 X 1,735,821 0 406,435 US GLOBAL INVS PFD CL A COMMON 902952100 14,200 4,000 X 4,000 0 0 UNB CORP PA COMMON 903057107 19,530 105 X 105 0 0 UNILEVER N V WI COMMON 904784709 36,279,539 529,551 X 429,111 0 100,440 MICROPORE INC "C" PFD CONVERT 9057213 11,550 550 X 550 0 0 UNION NATL FINL CORP COMMON 907647101 175,028 7,448 X 7,448 0 0 UNION PAC CORP COMMON 907818108 695,565 11,700 X 11,700 0 0 UNITED PARCEL SVC INC CLB COMMON 911312106 11,276 150 X 0 0 150 MICROPORE INC "A" CV PFD CONVERT 9129231 40,000 3,200 X 3,200 0 0 UNITED TECHN CORP COMMON 913017109 9,148 100 X 100 0 0 UNIVERSAL CORP VA COMMON 913456109 7,990,805 156,867 X 129,267 0 27,600 UNIVERSAL DISPLAY CORP COMMON 91347P105 41,691 3,900 X 0 0 3,900 UNOCAL CORP COMMON 915289102 24,700 650 X 0 0 650 UNUMPROVIDENT CORP COMMON 91529Y106 168,540 10,600 X 0 0 10,600 V F CORP COMMON 918204108 14,610 300 X 300 0 0 VALASSIS COMMUNICATIONS INC COMMON 918866104 319,935 10,500 X 10,000 0 500 VALUE LINE INC COMMON 920437100 258,552 7,200 X 7,200 0 0 VANGUARD BD INDEX FD INC MUTUAL 921937504 27,808 2,756 X 2,756 0 0 VANGUARD FIX INC-HY CP PTF MUTUAL 922031208 15,612 2,514 X 2,514 0 0 VECTREN CORP COMMON 92240G101 155,959 6,216 X 4,797 0 1,419 VANGUARD INDEX TR MUTUAL 922908207 33,896 1,199 X 1,199 0 0 VERIZON COMMUNICATIONS COMMON 92343V104 83,961 2,320 X 1,700 0 620 VIAD CORP COMMON 92552R109 283,605 10,500 X 10,500 0 0 VORNADO OPER CO COMMON 92904N103 495 1,100 X 0 0 1,100 VORNADO RLTY TR COMMON 929042109 1,256,420 22,000 X 0 0 22,000 VULCAN MATERIALS CO COMMON 929160109 5,083,095 106,900 X 48,250 0 58,650 WACHOVIA GROUP COMMON 929903102 7,413,611 166,598 X 103,087 0 63,511 WACHOVIA CORP PFD PREFERR 929903201 192 800 X 800 0 0 WAL MART STORES INC COMMON 931142103 650,689 12,333 X 9,768 0 2,565 WALGREEN COMPANY COMMON 931422109 540,470 14,926 X 11,876 0 3,050 WASHINGTON MUT INC COMMON 939322103 5,796 150 X 150 0 0 WASHINGTON POST CO CL B COMMON 939640108 133,384,824 143,423 X 113,066 0 30,357 DAILY MAIL & GEN TST-A COMMON 945736BLA 727,100 55,000 X 28,368 0 26,632 WELLS FARGO COMMON 949746101 111,051,267 1,940,438 X 1,576,754 0 363,684 WESCO FINL CORP COMMON 950817106 380,100 1,050 X 900 0 150 JOHN WILEY & SON INC CL A COMMON 968223206 33,600 1,050 X 1,050 0 0 WILMINGTON TR CORP COMMON 971807102 14,888 400 X 0 0 400 WRIGLEY WM JR CO COMMON 982526105 201,130 3,190 X 2,990 0 200 WYETH COMMON 983024100 300,128 8,300 X 8,000 0 300 YACKTMAN FD INC MUTUAL 984281105 3,666 237 X 237 0 0 YARA INTL ASA SPONSORED ADR COMMON 984851204 3,228 400 X 0 0 400 YORK WTR CO COMMON 987184108 112,115 6,080 X 6,080 0 0 YUM BRANDS INC COMMON 988498101 297,760 8,000 X 0 0 8,000 ZIMMER HLDGS INC COMMON 98956P102 39,690 450 X 330 0 120 TOTAL 2,790,679,024
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