13F-HR/A 1 d905736a_13f-hra.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, 2008 Check here if Amendment: |X|; Amendment Number: 1 This Amendment (Check only one): |X| 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: 028-2635 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: Diana Crumay Title: Head Account Administrator Phone: (717) 299-1385 Signature, Place and Date of Signing: /s/ Diana Crumay Lancaster, PA August 25, 2008 ----------------------- -------------------------- ---------------------- [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: 414 Form 13F Information Table Value Total: $4,478,504 (in thousands) List of Other Included Managers: None FORM 13F INFORMATION TABLE

COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 VALUE SHRS OR SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (X$1000) PRN AMT PRN CALL DSCRTN MNGRS SOLE SHARED NONE 3I GROUP PLC COM G88473148 168 10,250 SH SOLE NONE 0 0 10,250 3M CO COM 88579Y101 717 10,300 SH SOLE NONE 300 0 10,000 A H BELO CORP COM CL A 001282102 10 1,800 SH SOLE NONE 1,800 0 0 A P MOLLER-MAERSK A/S COM K0514G135 970 79 SH SOLE NONE 2 0 77 ABBOTT LABS COM 002824100 22,143 418,031 SH SOLE NONE 397,975 0 20,056 ACCO BRANDS CORP COM 00081T108 0 14 SH SOLE NONE 14 0 0 ACE LTD ORD G0070K103 138 2,500 SH SOLE NONE 2,500 0 0 ACNB CORP COM 000868109 13 881 SH SOLE NONE 881 0 0 ADELPHIA CONTINGENT VALUE CVV COM 00685R409 106 1,514,097 SH SOLE NONE 0 0 1,514,097 ADELPHIA RECOVERY TR CVV COM 00685R706 0 25,145,425 SH SOLE NONE 0 0 25,145,425 AES CORP COM 00130H105 1,076 56,000 SH SOLE NONE 27,000 0 29,000 AES TR III PFD CV 6.75% 00808N202 314 6,500 SH SOLE NONE 0 0 6,500 ALCATEL-LUCENT SPONSORED ADR 013904305 3 550 SH SOLE NONE 550 0 0 ALLEGHANY CORP DEL COM 017175100 293 882 SH SOLE NONE 657 0 225 ALLIANCE ONE INTL INC COM 018772103 92 18,000 SH SOLE NONE 18,000 0 0 ALLSTATE CORP COM 020002101 153 3,350 SH SOLE NONE 3,350 0 0 ALTRIA GROUP INC COM 02209S103 124,215 6,041,572 SH SOLE NONE 5,459,482 0 582,090 AMER ITALIAN PASTA CO CL A COM 027070101 23 2,000 SH SOLE NONE 0 0 2,000 AMERICA MOVIL SAB DE CV SPON ADR L SHS 02364W105 251 4,750 SH SOLE NONE 4,750 0 0 AMERICAN EXPRESS CO COM 025816109 3,030 80,423 SH SOLE NONE 60,073 0 20,350 AMERICAN INTL GROUP INC COM 026874107 105,417 3,983,999 SH SOLE NONE 3,595,779 0 388,220 AMERICAN SATELLITE NETWORK 06/ WARRANT 02937P116 0 42,205 SH SOLE NONE 40,131 0 2,074 AMERICAN TOWER CORP CL A 029912201 3,296 78,000 SH SOLE NONE 78,000 0 0 AMERIPRISE FINL INC COM 03076C106 50 1,223 SH SOLE NONE 1,223 0 0 AMGEN INC COM 031162100 32 675 SH SOLE NONE 675 0 0 ANADARKO PETE CORP COM 032511107 90 1,200 SH SOLE NONE 1,200 0 0 ANGLO AMERICAN PLC COM G03764134 685 9,750 SH SOLE NONE 3,750 0 6,000 ANHEUSER BUSCH COS INC COM 035229103 7,861 126,551 SH SOLE NONE 81,951 0 44,600 AON CORP COM 037389103 64 1,400 SH SOLE NONE 1,400 0 0 APPLE INC COM 037833100 4 25 SH SOLE NONE 25 0 0 APPLERA CORP COM CELERA GRP 038020202 7 600 SH SOLE NONE 600 0 0 APPLIED MATLS INC COM 038222105 15 800 SH SOLE NONE 800 0 0 APTARGROUP INC COM 038336103 1,073 25,584 SH SOLE NONE 23,384 0 2,200 ARCTIC CAT INC COM 039670104 54 6,900 SH SOLE NONE 1,900 0 5,000 ARIEL FD CALV ARIEL APP MUTUAL 040337206 4 105 SH SOLE NONE 105 0 0 ARIEL FD SH BEN INT MUTUAL 040337107 5 141 SH SOLE NONE 141 0 0 ARMSTRONG WORLD INDS INC NEW COM 04247X102 5,498 188,149 SH SOLE NONE 137,972 0 50,177 ARUBA NETWORKS INC COM 043176106 1 250 SH SOLE NONE 250 0 0 ASTROPOWER INC COM 04644A101 0 150 SH SOLE NONE 150 0 0 AT&T INC COM 00206R102 359 10,642 SH SOLE NONE 10,564 0 78 AUTOMATIC DATA PROCESSING IN COM 053015103 561 13,400 SH SOLE NONE 13,400 0 0 AVERY DENNISON CORP COM 053611109 3 75 SH SOLE NONE 75 0 0 AVON PRODS INC COM 054303102 10 275 SH SOLE NONE 200 0 75 BAKER HUGHES INC COM 057224107 25 281 SH SOLE NONE 281 0 0 BANK OF AMERICA CORPORATION COM 060505104 2,407 100,830 SH SOLE NONE 99,400 0 1,430 BARRICK GOLD CORP COM 067901108 8 165 SH SOLE NONE 165 0 0 BARRY CALLEBAUT AG COM H05072105 195 300 SH SOLE NONE 100 0 200 BASIN WTR INC COM 07011T306 42 9,000 SH SOLE NONE 0 0 9,000 BAYERISCHE MOTOREN WERKE AG COM D12096109 36 750 SH SOLE NONE 500 0 250 BB&T CORP COM 054937107 345 15,150 SH SOLE NONE 15,150 0 0 BED BATH & BEYOND INC COM 075896100 22 800 SH SOLE NONE 800 0 0 BELO CORP COM SER A 080555105 66 9,000 SH SOLE NONE 9,000 0 0 BERKSHIRE HATHAWAY INC DEL CL A 084670108 426,248 3,530 SH SOLE NONE 3,194 0 336 BERKSHIRE HATHAWAY INC DEL CL B 084670207 98,142 24,462 SH SOLE NONE 21,772 0 2,690 BERNER GRUPPEN ORD COM R50065102 14,860 116,354 SH SOLE NONE 102,004 0 14,350 BERNER GRUPPEN PFD PREFERR R50065110 473 3,701 SH SOLE NONE 701 0 3,000 BIC COM F10080103 2,816 53,850 SH SOLE NONE 33,650 0 20,200 BJ SVCS CO COM 055482103 96 3,000 SH SOLE NONE 3,000 0 0 BLOCK H & R INC COM 093671105 68,099 3,182,201 SH SOLE NONE 2,933,526 0 248,675 BOEING CO COM 097023105 7 100 SH SOLE NONE 100 0 0 BP PLC SPONSORED ADR 055622104 871 12,517 SH SOLE NONE 11,167 0 1,350 BP PLC ORD COM 0798059 174 15,000 SH SOLE NONE 15,000 0 0 BRISTOL MYERS SQUIBB CO COM 110122108 156 7,600 SH SOLE NONE 6,600 0 1,000 BRITISH AMER TOBACCO PLC COM G1510J102 10,019 289,320 SH SOLE NONE 209,270 0 80,050 BRITISH AMERN TOB PLC SPONSORED ADR 110448107 519 7,500 SH SOLE NONE 7,500 0 0 BROWN FORMAN CORP CL A 115637100 127,741 1,680,133 SH SOLE NONE 1,522,689 0 157,444 BROWN FORMAN CORP CL B 115637209 19,312 255,545 SH SOLE NONE 225,820 0 29,725 BURNHAM HLDGS INC CL A COM 122295108 22 1,682 SH SOLE NONE 0 0 1,682 CABLEVISION SYS CORP CL A NY CABLVS 12686C109 34 1,500 SH SOLE NONE 1,500 0 0 CADBURY PLC COM G1843B107 90,769 7,198,138 SH SOLE NONE 6,477,694 0 720,444 CADBURY PLC SPONS ADR 12721E102 385 7,648 SH SOLE NONE 5,472 0 2,176 CAMPBELL SOUP CO COM 134429109 95 2,850 SH SOLE NONE 2,850 0 0 CANADIAN OIL SANDS TRUST COM 13642L100 15,030 280,000 SH SOLE NONE 280,000 0 0 CANON INC JPY COM 6172323 257 5,000 SH SOLE NONE 5,000 0 0 CARLISLE COS INC COM 142339100 2,159 74,438 SH SOLE NONE 74,438 0 0 CARNIVAL CORP PAIRED CTF 143658300 2 55 SH SOLE NONE 55 0 0 CATERPILLAR INC DEL COM 149123101 30 400 SH SOLE NONE 400 0 0 CBS CORP NEW CL B 124857202 21 1,100 SH SOLE NONE 1,100 0 0 CEMEX SAB DE CV SPON ADR NEW 151290889 618 25,000 SH SOLE NONE 0 0 25,000 CENTERPOINT ENERGY INC COM 15189T107 3 200 SH SOLE NONE 200 0 0 CENTRAL VT PUB SVC PFD PREFERR 155771306 4 50 SH SOLE NONE 50 0 0 CEPHEID COM 15670R107 70 2,500 SH SOLE NONE 0 0 2,500 CHARLES RIV LABS INTL INC COM 159864107 4 70 SH SOLE NONE 70 0 0 CHATTEM INC COM 162456107 49 750 SH SOLE NONE 750 0 0 CHEVRON CORP NEW COM 166764100 3,286 33,146 SH SOLE NONE 22,561 0 10,585 CHUBB CORP COM 171232101 10 200 SH SOLE NONE 0 0 200 CHURCH & DWIGHT INC COM 171340102 8 150 SH SOLE NONE 150 0 0 CHURCHILL DOWNS INC COM 171484108 3 100 SH SOLE NONE 0 0 100 CIE FINANC RICHEMONT A-SW COM H25662141 193,651 3,471,688 SH SOLE NONE 3,143,823 0 327,865 CINCINNATI FINL CORP COM 172062101 4 150 SH SOLE NONE 150 0 0 CISCO SYS INC COM 17275R102 3,773 162,200 SH SOLE NONE 162,200 0 0 CITADEL BROADCASTING CORP COM 17285T106 2 1,313 SH SOLE NONE 1,256 0 57 CITIGROUP INC COM 172967101 10 600 SH SOLE NONE 200 0 400 CITIZENS COMMUNICATIONS CO COM 17453B101 2 184 SH SOLE NONE 184 0 0 CLIPPER FD INC MUTUAL 188850101 45 701 SH SOLE NONE 234 0 467 COCA COLA CO COM 191216100 1,167 22,446 SH SOLE NONE 20,945 0 1,501 COLGATE PALMOLIVE CO COM 194162103 35 500 SH SOLE NONE 0 0 500 COLUMBIA ACORN TR INTL CL Z MUTUAL 197199813 9 230 SH SOLE NONE 230 0 0 COMCAST CORP NEW CL A 20030N101 767 40,419 SH SOLE NONE 40,175 0 244 COMCAST CORP NEW CL A SPL 20030N200 186,530 9,942,989 SH SOLE NONE 8,999,070 0 943,919 CONOCOPHILLIPS COM 20825C104 3,304 35,008 SH SOLE NONE 24,699 0 10,309 CONSTELLATION BRANDS INC CL A 21036P108 6 300 SH SOLE NONE 300 0 0 CORNING INC COM 219350105 40 1,750 SH SOLE NONE 1,750 0 0 COSTCO WHSL CORP NEW COM 22160K105 856 12,200 SH SOLE NONE 9,900 0 2,300 COUSINS PPTYS INC COM 222795106 35 1,500 SH SOLE NONE 0 0 1,500 COVIDIEN LTD COM G2552X108 1 14 SH SOLE NONE 14 0 0 CRANE CO COM 224399105 8,181 212,324 SH SOLE NONE 182,529 0 29,795 CRESCENT FINL CORP COM 225744101 3 440 SH SOLE NONE 440 0 0 CRH PLC COM G25508105 4,758 164,225 SH SOLE NONE 131,025 0 33,200 CROWN CASTLE INTL CORP COM 228227104 64 1,650 SH SOLE NONE 1,650 0 0 CVS CAREMARK CORPORATION COM 126650100 40 1,000 SH SOLE NONE 1,000 0 0 D & E COMMUNICATIONS INC COM 232860106 70 7,900 SH SOLE NONE 400 0 7,500 DAILY MAIL & GEN TST-A COM G26236128 156 24,964 SH SOLE NONE 21,964 0 3,000 DAIMLER AG REG SHS D1668R123 56 902 SH SOLE NONE 902 0 0 DANAHER CORP DEL COM 235851102 34 436 SH SOLE NONE 436 0 0 DAVIS NY VENTURE FD INC MUTUAL 239080401 51 1,421 SH SOLE NONE 1,421 0 0 DEERE & CO COM 244199105 1,443 20,000 SH SOLE NONE 18,575 0 1,425 DEL MONTE FOODS CO COM 24522P103 19 2,679 SH SOLE NONE 2,679 0 0 DELPHI FINL GROUP INC CL A 247131105 38 1,625 SH SOLE NONE 1,625 0 0 DENTSPLY INTL INC NEW COM 249030107 37 1,000 SH SOLE NONE 1,000 0 0 DENVER & EPHRATA TEL & TELEG P PREFERR 249055203 2 40 SH SOLE NONE 40 0 0 DEVON ENERGY CORP NEW COM 25179M103 4,806 40,000 SH SOLE NONE 40,000 0 0 DIAGEO P L C SPON ADR NEW 25243Q205 32,219 436,160 SH SOLE NONE 388,878 0 47,282 DIAGEO PLC COM G42089113 124,938 6,790,089 SH SOLE NONE 6,146,322 0 643,767 DIREXION FDS 10YR NT BR2 5X MUTUAL 254939770 71 4,846 SH SOLE NONE 0 0 4,846 DISCOVER FINL SVCS COM 254709108 799 60,644 SH SOLE NONE 60,344 0 300 DISNEY WALT CO COM DISNEY 254687106 706 22,629 SH SOLE NONE 21,679 0 950 DOVER CORP COM 260003108 3,093 63,940 SH SOLE NONE 56,440 0 7,500 DR PEPPER SNAPPLE GROUP INC COM 26138E109 251 11,951 SH SOLE NONE 11,951 0 0 DU PONT E I DE NEMOURS & CO COM 263534109 413 9,633 SH SOLE NONE 9,633 0 0 DUKE ENERGY CORP NEW COM 26441C105 2 100 SH SOLE NONE 0 0 100 EDIPRESSE S A - BEARER COM H20616126 50 125 SH SOLE NONE 125 0 0 ENCANA CORP COM 292505104 5,615 61,750 SH SOLE NONE 61,750 0 0 ENCORE WIRE CORP COM 292562105 106 5,000 SH SOLE NONE 5,000 0 0 ENERGIZER HLDGS INC COM 29266R108 11 150 SH SOLE NONE 150 0 0 ENTERGY CORP NEW COM 29364G103 16 133 SH SOLE NONE 133 0 0 EP MEDSYSTEMS INC COM 26881P103 75 25,000 SH SOLE NONE 0 0 25,000 EPHRATA NATIONAL BANK COM 294209200 11 450 SH SOLE NONE 450 0 0 EQUIFAX INC COM 294429105 50 1,500 SH SOLE NONE 1,500 0 0 EVERGREEN INTL EQTY CL I MUTUAL 299924704 13 1,343 SH SOLE NONE 1,343 0 0 EVERGREEN TR STRAT GRT CL I MUTUAL 299909408 66 2,091 SH SOLE NONE 2,091 0 0 EXPEDIA INC DEL COM 30212P105 5 250 SH SOLE NONE 250 0 0 EXPEDITORS INTL WASH INC COM 302130109 129 3,000 SH SOLE NONE 3,000 0 0 EXXON MOBIL CORP COM 30231G102 22,432 254,535 SH SOLE NONE 216,313 0 38,222 FAIRHOLME FDS INC MUTUAL 304871106 45 1,491 SH SOLE NONE 276 0 1,215 FAIRPOINT COMMUNICATIONS INC COM 305560104 0 62 SH SOLE NONE 62 0 0 FASTENAL CO COM 311900104 97 2,250 SH SOLE NONE 2,250 0 0 FEDEX CORP COM 31428X106 19 240 SH SOLE NONE 240 0 0 FIDELITY NATIONAL FINANCIAL CL A 31620R105 36 2,853 SH SOLE NONE 2,853 0 0 FIDELITY NATL INFORMATION SV COM 31620M106 151 4,103 SH SOLE NONE 4,028 0 75 FIRST PAC LTD ORD COM G34804107 13 20,000 SH SOLE NONE 20,000 0 0 FISERV INC COM 337738108 2 50 SH SOLE NONE 50 0 0 FMC TECHNOLOGIES INC COM 30249U101 23 300 SH SOLE NONE 300 0 0 FORTUNE BRANDS INC COM 349631101 12 200 SH SOLE NONE 200 0 0 FPA FDS TR FPA CRESC INSTL MUTUAL 30254T759 10 397 SH SOLE NONE 397 0 0 FPL GROUP INC COM 302571104 479 7,300 SH SOLE NONE 5,900 0 1,400 FULLER H B CO COM 359694106 19 850 SH SOLE NONE 850 0 0 FULTON FINL CORP PA COM 360271100 1,379 137,168 SH SOLE NONE 66,367 0 70,801 GANNETT INC COM 364730101 772 35,625 SH SOLE NONE 23,525 0 12,100 GENERAL DYNAMICS CORP COM 369550108 1,330 15,800 SH SOLE NONE 15,800 0 0 GENERAL ELECTRIC CO COM 369604103 5,802 217,368 SH SOLE NONE 121,398 0 95,970 GENERAL GROWTH PPTYS INC COM 370021107 8 215 SH SOLE NONE 0 0 215 GENESEE & WYO INC CL A 371559105 15 450 SH SOLE NONE 450 0 0 GLATFELTER COM 377316104 15 1,100 SH SOLE NONE 400 0 700 GLAXOSMITHKLINE PLC SPONSORED ADR 37733W105 17 375 SH SOLE NONE 375 0 0 GOLDMAN SACHS GROUP INC COM 38141G104 17 100 SH SOLE NONE 100 0 0 GROUPE DANONE COM B018SX1 246 3,500 SH SOLE NONE 3,500 0 0 GROUPE DANONE ADR COM 399449107 6,398 455,250 SH SOLE NONE 351,750 0 103,500 GRUPO TELEVISA SA DE CV SP ADR REP ORD 40049J206 12 516 SH SOLE NONE 516 0 0 HAIN CELESTIAL GROUP INC COM 405217100 2 100 SH SOLE NONE 100 0 0 HARLEYSVILLE NATL CORP PA COM 412850109 2 173 SH SOLE NONE 0 0 173 HARTE-HANKS INC COM 416196103 258 22,500 SH SOLE NONE 22,500 0 0 HASBRO INC COM 418056107 80,868 2,263,949 SH SOLE NONE 2,074,224 0 189,725 HCC INS HLDGS INC COM 404132102 10 450 SH SOLE NONE 450 0 0 HEALTHSOUTH CORP COM NEW 421924309 90 5,400 SH SOLE NONE 0 0 5,400 HEARTLAND EXPRESS INC COM 422347104 1,269 85,122 SH SOLE NONE 78,856 0 6,266 HEINEKEN HLDG NV COM N39338194 302,512 6,590,677 SH SOLE NONE 5,981,987 0 608,690 HEINEKEN NV COM N39427211 1,361 26,656 SH SOLE NONE 14,731 0 11,925 HEINEKEN NV UNSPONS ADR COM 423012202 3,982 155,929 SH SOLE NONE 51,525 0 104,404 HEINZ H J CO COM 423074103 77 1,600 SH SOLE NONE 1,600 0 0 HERSHEY CO COM 427866108 109 3,320 SH SOLE NONE 3,320 0 0 HEWLETT PACKARD CO COM 428236103 66 1,500 SH SOLE NONE 1,500 0 0 HILL ROM HLDGS INC COM 431475102 40 1,500 SH SOLE NONE 0 0 1,500 HILLENBRAND INC COM 431571108 32 1,500 SH SOLE NONE 0 0 1,500 HOME DEPOT INC COM 437076102 44 1,900 SH SOLE NONE 1,900 0 0 HORMEL FOODS CORP COM 440452100 14,277 412,525 SH SOLE NONE 374,325 0 38,200 HSBC HLDGS PLC ORD COM 0540528 77 5,000 SH SOLE NONE 5,000 0 0 HUDSON HIGHLAND GROUP INC COM 443792106 5 524 SH SOLE NONE 0 0 524 HUNTER DOUGLAS NV COM N4327C122 26 425 SH SOLE NONE 425 0 0 IDEARC INC COM 451663108 0 136 SH SOLE NONE 136 0 0 IMPERIAL TOBACCO GROUP PLC COM G4721W102 620 16,650 SH SOLE NONE 16,425 0 225 IMPERIAL TOBACCO GROUP PLC SPONSORED ADR 453142101 15 200 SH SOLE NONE 200 0 0 INTEL CORP COM 458140100 154 7,158 SH SOLE NONE 7,158 0 0 INTERNATIONAL BUSINESS MACHS COM 459200101 2,656 22,412 SH SOLE NONE 2,337 0 20,075 INTERNATIONAL SPEEDWAY CORP CL A 460335201 30,341 777,377 SH SOLE NONE 701,371 0 76,006 INTERNAT'L SPEEDWAY CL B COM 460335300 13,162 335,348 SH SOLE NONE 310,923 0 24,425 INTERPUBLIC GROUP COS INC COM 460690100 0 9 SH SOLE NONE 9 0 0 IPC HLDGS LTD ORD G4933P101 5 200 SH SOLE NONE 200 0 0 IPRINT TECHNOLOGIES INC COM 462628108 0 600 SH SOLE NONE 600 0 0 ISHARES TR S&P MIDCP VALU 464287705 1 16 SH SOLE NONE 16 0 0 JAMES HALSTEAD PLC COM G4253G129 99 10,000 SH SOLE NONE 10,000 0 0 JAPAN TOBACCO INC COM 6474535 85 20 SH SOLE NONE 20 0 0 JC DECAUX SA ACT COM F5333N100 6,970 273,325 SH SOLE NONE 233,975 0 39,350 JOHNSON & JOHNSON COM 478160104 4,404 68,442 SH SOLE NONE 57,042 0 11,400 JP MORGAN CHASE & CO COM 46625H100 1,261 36,750 SH SOLE NONE 0 0 36,750 KAO CORP JPY COM JP3205800 202 7,700 SH SOLE NONE 7,700 0 0 KELLOGG CO COM 487836108 48 1,000 SH SOLE NONE 925 0 75 KEYCORP NEW COM 493267108 1 100 SH SOLE NONE 100 0 0 KIMBERLY CLARK CORP COM 494368103 36 600 SH SOLE NONE 600 0 0 KINGSPAN GROUP PLC COM G52654103 2,849 289,250 SH SOLE NONE 212,650 0 76,600 KIRIN HOLDINGS CO LTD COM 6493745 62 4,000 SH SOLE NONE 4,000 0 0 KRAFT FOODS INC CL A 50075N104 49,066 1,724,656 SH SOLE NONE 1,575,158 0 149,498 KROGER CO COM 501044101 51 1,750 SH SOLE NONE 1,750 0 0 LAMAR ADVERTISING CO CL A 512815101 1,085 30,100 SH SOLE NONE 28,700 0 1,400 LAUDER ESTEE COS INC CL A 518439104 35 750 SH SOLE NONE 750 0 0 LEE ENTERPRISES INC COM 523768109 301 75,410 SH SOLE NONE 62,910 0 12,500 LEUCADIA NATL CORP COM 527288104 4,398 93,686 SH SOLE NONE 91,686 0 2,000 LEVEL 3 COMMUNICATIONS INC COM 52729N100 0 100 SH SOLE NONE 100 0 0 LEXINGTON REALTY TRUST COM 529043101 668 49,000 SH SOLE NONE 36,000 0 13,000 LIBERTY MEDIA CORP NEW INT COM SER A 53071M104 4 250 SH SOLE NONE 250 0 0 LIBERTY MEDIA CORP NEW CAP COM SER A 53071M302 1 50 SH SOLE NONE 50 0 0 LIBERTY MEDIA CORP NEW ENT COM SER A 53071M500 5 200 SH SOLE NONE 200 0 0 LINDT & SPRUENGLI AG-REG COM H49983176 994 33 SH SOLE NONE 5 0 28 LONGLEAF INT PARTNERS FD MUTUAL 543069405 9 501 SH SOLE NONE 501 0 0 LONGLEAF PARTNERS FUND MUTUAL 543069108 7 240 SH SOLE NONE 240 0 0 LOREAL SA COM 4057808 180 1,650 SH SOLE NONE 1,650 0 0 LORILLARD INC COM 544147101 156 2,250 SH SOLE NONE 2,250 0 0 LOWES COS INC COM 548661107 121 5,850 SH SOLE NONE 5,000 0 850 LSI CORPORATION COM 502161102 1 105 SH SOLE NONE 105 0 0 LUXOTTICA GROUP S P A SPONSORED ADR 55068R202 2 100 SH SOLE NONE 100 0 0 M D C HLDGS INC COM 552676108 4 100 SH SOLE NONE 0 0 100 MARKEL CORP COM 570535104 25,693 70,009 SH SOLE NONE 59,029 0 10,980 MARSH & MCLENNAN COS INC COM 571748102 66 2,475 SH SOLE NONE 2,475 0 0 MARSHALL & ILSLEY CORP NEW COM 571837103 23 1,500 SH SOLE NONE 1,500 0 0 MARTIN MARIETTA MATLS INC COM 573284106 210,502 2,032,071 SH SOLE NONE 1,833,790 0 198,281 MASTERS SELECT EQUITY FUND MUTUAL 576417109 50 3,642 SH SOLE NONE 3,108 0 534 MASTERS SELECT FDS VALUE FD MUTUAL 576417406 44 3,584 SH SOLE NONE 543 0 3,041 MASTERS SELECT INT'L FUND MUTUAL 576417208 99 6,014 SH SOLE NONE 1,728 0 4,286 MASTERS SELECT SMALLER FD MUTUAL 576417307 53 4,330 SH SOLE NONE 591 0 3,739 MATTEL INC COM 577081102 997 58,250 SH SOLE NONE 48,750 0 9,500 MATTHEWS INTL FDS PAC TIGER FD MUTUAL 577130107 4 188 SH SOLE NONE 188 0 0 MCCLATCHY CO CL A 579489105 35,250 5,199,180 SH SOLE NONE 4,720,351 0 478,829 MCCORMICK & CO INC COM NON VTG 579780206 2,407 67,500 SH SOLE NONE 60,500 0 7,000 MCDONALDS CORP COM 580135101 1,492 26,545 SH SOLE NONE 25,575 0 970 MCKESSON CORP COM 58155Q103 28 500 SH SOLE NONE 500 0 0 MEADWESTVACO CORP COM 583334107 55 2,300 SH SOLE NONE 0 0 2,300 MEDTRONIC INC COM 585055106 168 3,250 SH SOLE NONE 3,250 0 0 MERCK & CO INC COM 589331107 286 7,586 SH SOLE NONE 5,586 0 2,000 MERITOR SVGS BK PA COM 590007100 11 3,000 SH SOLE NONE 3,000 0 0 MESA RTY TR UNIT BEN INT 590660106 1,898 23,000 SH SOLE NONE 23,000 0 0 METAVANTE TECHNOLOGIES INC COM 591407101 11 500 SH SOLE NONE 500 0 0 MICROPORE INC "A" CV PFD CONVERT 595995002 99 3,200 SH SOLE NONE 3,200 0 0 MICROPORE INC "C" CV PFD CONVERT 595998816 17 550 SH SOLE NONE 550 0 0 MICROSOFT CORP COM 594918104 3,602 130,952 SH SOLE NONE 130,122 0 830 MILLER HERMAN INC COM 600544100 24,827 997,456 SH SOLE NONE 875,856 0 121,600 MIRANT CORP ESCROW SHARES COM 604675991 0 500 SH SOLE NONE 500 0 0 MIRANT CORP NEW COM 60467R100 1 13 SH SOLE NONE 13 0 0 MIRANT CORP NEW *W EXP 01/03/201 60467R118 1 43 SH SOLE NONE 43 0 0 MODINE MFG CO COM 607828100 49 4,000 SH SOLE NONE 4,000 0 0 MOHAWK INDS INC COM 608190104 346 5,400 SH SOLE NONE 3,400 0 2,000 MOLEX INC CL A 608554200 27 1,200 SH SOLE NONE 1,200 0 0 MONSANTO CO NEW COM 61166W101 1,334 10,550 SH SOLE NONE 10,150 0 400 MONSTER WORLDWIDE INC COM 611742107 26 1,250 SH SOLE NONE 0 0 1,250 MORGAN STANLEY COM NEW 617446448 7 200 SH SOLE NONE 200 0 0 MURPHY OIL CORP COM 626717102 147 1,500 SH SOLE NONE 1,500 0 0 MYLAN INC COM 628530107 48 4,000 SH SOLE NONE 4,000 0 0 NATIONAL CITY CORP COM 635405103 3 600 SH SOLE NONE 600 0 0 NATIONAL PENN BANCSHARES INC COM 637138108 62 4,644 SH SOLE NONE 4,644 0 0 NATURAL RESOURCE PARTNERS L COM UNIT L P 63900P103 161 3,900 SH SOLE NONE 0 0 3,900 NESTLE REG ADR COM 641069406 460,538 4,070,878 SH SOLE NONE 3,669,918 0 400,960 NEUBERGER & BERMAN EQUITY TR P MUTUAL 640917407 15 631 SH SOLE NONE 631 0 0 NEUE ZUERCHER ZEITUNG COM H57512107 435 6 SH SOLE NONE 3 0 3 NEW YORK TIMES CO CL A 650111107 213 13,850 SH SOLE NONE 13,850 0 0 NEWELL RUBBERMAID INC COM 651229106 4 250 SH SOLE NONE 250 0 0 NEWS CORP CL A 65248E104 141 9,400 SH SOLE NONE 9,200 0 200 NOBLE ENERGY INC COM 655044105 241 2,400 SH SOLE NONE 2,400 0 0 NOKIA CORP SPONSORED ADR 654902204 318 12,965 SH SOLE NONE 12,750 0 215 NORGES HANDELS OG SJOF COM R51385103 3,205 17,172 SH SOLE NONE 16,872 0 300 NORTHERN TR CORP COM 665859104 346 5,050 SH SOLE NONE 5,000 0 50 NOVARTIS A G SPONSORED ADR 66987V109 14 250 SH SOLE NONE 0 0 250 NUANCE COMMUNICATIONS INC COM 67020Y100 31 2,000 SH SOLE NONE 0 0 2,000 NUVEEN PA INVT QUALITY MUN F COM 670972108 21 1,630 SH SOLE NONE 1,630 0 0 OAK VALUE TR MUTUAL 67181Q102 7 375 SH SOLE NONE 375 0 0 OAKMARK FUND - CLASS I MUTUAL 413838103 8 229 SH SOLE NONE 229 0 0 OCCIDENTAL PETE CORP DEL COM 674599105 180 2,000 SH SOLE NONE 2,000 0 0 OMNICOM GROUP INC COM 681919106 5,249 116,950 SH SOLE NONE 107,750 0 9,200 ORACLE CORP COM 68389X105 11 500 SH SOLE NONE 500 0 0 OWENS CORNING NEW COM 690742101 569 25,000 SH SOLE NONE 0 0 25,000 PARGESA HOLDING AG - B COM H60477207 9,832 88,050 SH SOLE NONE 58,875 0 29,175 PARKER HANNIFIN CORP COM 701094104 53 750 SH SOLE NONE 750 0 0 PEABODY ENERGY CORP COM 704549104 26 300 SH SOLE NONE 300 0 0 PENTAIR INC COM 709631105 4 100 SH SOLE NONE 100 0 0 PEPSICO INC COM 713448108 7,087 111,445 SH SOLE NONE 105,770 0 5,675 PERNOD RICARD S A ORD COM F72027109 116,334 1,131,767 SH SOLE NONE 1,016,116 0 115,651 PFIZER INC COM 717081103 1,363 78,026 SH SOLE NONE 64,176 0 13,850 PHILIP MORRIS CR AS COM X6547B106 4,114 13,878 SH SOLE NONE 13,033 0 845 PHILIP MORRIS INTL INC COM 718172109 305,080 6,176,961 SH SOLE NONE 5,577,020 0 599,941 PIEDMONT NAT GAS INC COM 720186105 42 1,600 SH SOLE NONE 1,600 0 0 PIONEER NAT RES CO COM 723787107 908 11,600 SH SOLE NONE 6,400 0 5,200 PNC FINL SVCS GROUP INC COM 693475105 729 12,760 SH SOLE NONE 3,960 0 8,800 POZEN INC COM 73941U102 98 9,000 SH SOLE NONE 0 0 9,000 PPG INDS INC COM 693506107 52 900 SH SOLE NONE 0 0 900 PRAXAIR INC COM 74005P104 170 1,800 SH SOLE NONE 1,800 0 0 PROCTER & GAMBLE CO COM 742718109 4,470 73,510 SH SOLE NONE 57,660 0 15,850 PROFUNDS RISING OPP INV MUTUAL 74318A596 24 1,326 SH SOLE NONE 0 0 1,326 PROGRESSIVE CORP OHIO COM 743315103 9,496 507,288 SH SOLE NONE 470,454 0 36,834 PROLOGIS SH BEN INT 743410102 60 1,100 SH SOLE NONE 0 0 1,100 PTV INC PFD 10% PREFERR 69367F306 0 1 SH SOLE NONE 0 0 1 PUBLIC SVC ENTERPRISE GROUP COM 744573106 19 422 SH SOLE NONE 0 0 422 RECKITT BENCKISER GROUP PLC COM G74079107 773 15,250 SH SOLE NONE 15,250 0 0 RENAISSANCERE HOLDINGS LTD COM G7496G103 7 165 SH SOLE NONE 90 0 75 RITE AID CORP COM 767754104 7 4,650 SH SOLE NONE 3,500 0 1,150 ROCHE HLDG LTD SPON ADR COM 771195104 18 200 SH SOLE NONE 0 0 200 ROCHE HOLDING AG COM 001203204 600 3,325 SH SOLE NONE 3,325 0 0 ROWE T PRICE EQUITY FD MUTUAL 779547108 47 2,026 SH SOLE NONE 2,026 0 0 ROYAL DUTCH SHELL PLC SPON ADR B 780259107 486 6,062 SH SOLE NONE 6,062 0 0 ROYAL DUTCH SHELL PLC SPONS ADR A 780259206 6,071 74,294 SH SOLE NONE 52,344 0 21,950 RYDEX SER TR JUNO FD MUTUAL 783554702 399 23,115 SH SOLE NONE 0 0 23,115 SABMILLER PLC COM G77395104 33,522 1,461,275 SH SOLE NONE 1,311,575 0 149,700 SABMILLER PLC SPONSORED ADR COM 78572M105 126 5,500 SH SOLE NONE 1,750 0 3,750 SAFEWAY INC COM NEW 786514208 14 500 SH SOLE NONE 500 0 0 SAMSUNG ELECTRONICS LTD COM 796050888 22 75 SH SOLE NONE 0 0 75 SANOFI-AVENTIS COM F5548N101 12 175 SH SOLE NONE 0 0 175 SCHERING PLOUGH CORP COM 806605101 51 2,600 SH SOLE NONE 0 0 2,600 SCHIBSTED A/S COM R75677105 1,005 35,387 SH SOLE NONE 30,887 0 4,500 SCHLUMBERGER LTD COM 806857108 1,214 11,300 SH SOLE NONE 11,300 0 0 SCHULMAN A INC COM 808194104 127 5,530 SH SOLE NONE 5,530 0 0 SCHWEITZER-MAUDUIT INTL INC COM 808541106 23,166 1,374,825 SH SOLE NONE 1,262,830 0 111,995 SCOTTS MIRACLE GRO CO CL A 810186106 742 42,250 SH SOLE NONE 29,575 0 12,675 SCRIPPS E W CO OHIO CL A 811054204 133,707 3,218,746 SH SOLE NONE 2,912,838 0 305,908 SEAGATE TECGBIKIGT INC ESCROW WARRANT 811804988 0 200 SH SOLE NONE 0 0 200 SEQUOIA FD INC MUTUAL 817418106 12 101 SH SOLE NONE 101 0 0 SMITHFIELD FOODS INC COM 832248108 6 300 SH SOLE NONE 0 0 300 SMUCKER J M CO COM NEW 832696405 0 6 SH SOLE NONE 6 0 0 SOUTHERN UN CO NEW COM 844030106 7 250 SH SOLE NONE 250 0 0 SOVEREIGN BANCORP INC COM 845905108 7 914 SH SOLE NONE 914 0 0 STAPLES INC COM 855030102 4,639 195,337 SH SOLE NONE 178,887 0 16,450 STEPAN CO COM 858586100 59 1,284 SH SOLE NONE 1,284 0 0 SUN MICROSYSTEMS INC COM NEW 866810203 2,720 250,000 SH SOLE NONE 250,000 0 0 SUNCOR ENERGY INC COM 867229106 357 6,150 SH SOLE NONE 6,150 0 0 SUNTRUST BKS INC COM 867914103 30 825 SH SOLE NONE 825 0 0 SUPERVALU INC COM 868536103 28 910 SH SOLE NONE 910 0 0 SUSQUEHANNA BANCSHARES INC P COM 869099101 376 27,472 SH SOLE NONE 23,787 0 3,685 SWEDISH MATCH AB COM W92277115 13,785 672,125 SH SOLE NONE 478,975 0 193,150 SYNGENTA AG COM 4356646 318 975 SH SOLE NONE 975 0 0 SYSCO CORP COM 871829107 10 350 SH SOLE NONE 150 0 200 TAMEDIA AG COM H84391103 5,328 38,825 SH SOLE NONE 25,475 0 13,350 TARGET CORP COM 87612E106 76 1,624 SH SOLE NONE 1,275 0 349 TELEFONICA S A SPONSORED ADR 879382208 0 1 SH SOLE NONE 1 0 0 TELEGRAAF MEDIA GROEP NV COM N8502L104 112,849 3,452,094 SH SOLE NONE 3,138,819 0 313,275 TEMPLETON GLOBAL INCOME FD COM 880198106 6 702 SH SOLE NONE 702 0 0 TEXAS INSTRS INC COM 882508104 315 11,200 SH SOLE NONE 10,700 0 500 THE SWATCH GROUP AG-BR COM H83949141 3,101 12,395 SH SOLE NONE 10,920 0 1,475 THIRD AVE FD REAL ESTATE MUTUAL 884116401 37 1,523 SH SOLE NONE 368 0 1,155 THIRD AVE SM CAP VALUE FD MUTUAL 884116203 9 378 SH SOLE NONE 378 0 0 THIRD AVE VALUE FD INC MUTUAL 884116104 46 756 SH SOLE NONE 188 0 568 THIRD AVENUE INT VALUE FD MUTUAL 884116500 11 580 SH SOLE NONE 580 0 0 THOMSON REUTERS CORP COM 884903105 39 1,200 SH SOLE NONE 1,200 0 0 TIFFANY & CO NEW COM 886547108 255 6,250 SH SOLE NONE 6,250 0 0 TIGERLOGIC CORPORATION COM 8867EQ101 123 25,000 SH SOLE NONE 10,000 0 15,000 TIM HORTONS INC COM 88706M103 6 200 SH SOLE NONE 200 0 0 TIME WARNER CABLE INC CL A 88732J108 1,065 40,219 SH SOLE NONE 0 0 40,219 TIME WARNER INC COM 887317105 369 24,950 SH SOLE NONE 4,950 0 20,000 TJX COS INC NEW COM 872540109 1,264 40,150 SH SOLE NONE 40,000 0 150 TOOTSIE ROLL INDS INC COM 890516107 36 1,417 SH SOLE NONE 0 0 1,417 TOTAL S A COM 4905413 213 2,500 SH SOLE NONE 2,500 0 0 TOTAL S A SPONSORED ADR 89151E109 350 4,100 SH SOLE NONE 4,100 0 0 TOUCHSTONE MID CAP FD CL Y MUTUAL 89155H793 5 317 SH SOLE NONE 317 0 0 TOYOTA MOTOR CORP JPY50 COM 6900643 94 2,000 SH SOLE NONE 2,000 0 0 TWEEDY BROWNE FD AMERICAN MUTUAL 901165209 6 335 SH SOLE NONE 335 0 0 TWEEDY BROWNE FD GLOBAL MUTUAL 901165100 45 1,782 SH SOLE NONE 517 0 1,265 TYCO ELECTRONICS LTD COM NEW G9144P105 1 14 SH SOLE NONE 14 0 0 TYCO INTL LTD BERMUDA SHS G9143X208 1 14 SH SOLE NONE 14 0 0 U S GLOBAL INVS INC CL A 902952100 113 6,750 SH SOLE NONE 6,750 0 0 UBS AG-REGISTERED COM B18YFJ4 15 735 SH SOLE NONE 735 0 0 UNB CORP PA COM 903057107 11 105 SH SOLE NONE 105 0 0 UNILEVER N V N Y SHS NEW 904784709 107,102 3,771,180 SH SOLE NONE 3,407,835 0 363,345 UNILEVER PLC SPON ADR NEW 904767704 4 126 SH SOLE NONE 0 0 126 UNION NATL FINL CORP COM 907647101 79 8,660 SH 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SH SOLE NONE 0 0 17,000 VULCAN MATLS CO COM 929160109 4,745 79,375 SH SOLE NONE 58,525 0 20,850 WACHOVIA CORP NEW COM 929903102 41 2,642 SH SOLE NONE 1,642 0 1,000 WACHOVIA CORP PFD PREFERR 929903201 0 800 SH SOLE NONE 800 0 0 WAL MART STORES INC COM 931142103 2,614 46,518 SH SOLE NONE 25,793 0 20,725 WALGREEN CO COM 931422109 233 7,160 SH SOLE NONE 6,960 0 200 WAL-MART DE MEXICO S A COM P98180105 77 19,200 SH SOLE NONE 0 0 19,200 WASHINGTON POST CO CL B 939640108 115,926 197,523 SH SOLE NONE 177,794 0 19,729 WELLPOINT INC COM 94973V107 34 704 SH SOLE NONE 704 0 0 WELLS FARGO & CO NEW COM 949746101 165,964 6,987,965 SH SOLE NONE 6,315,462 0 672,503 WESCO FINL CORP COM 950817106 275 720 SH SOLE NONE 570 0 150 WESTERN UN CO COM 959802109 37 1,500 SH SOLE NONE 1,500 0 0 WHOLE FOODS MKT INC COM 966837106 12 500 SH SOLE NONE 500 0 0 WILEY JOHN & SONS INC CL A 968223206 47 1,050 SH SOLE NONE 1,050 0 0 WINTERGREEN FD INC MUTUAL 97607W102 59 4,569 SH SOLE NONE 0 0 4,569 WPP GROUP PLC COM G9787H105 868 90,000 SH SOLE NONE 90,000 0 0 WRIGLEY WM JR CO COM 982526105 191 2,462 SH SOLE NONE 2,237 0 225 WYETH COM 983024100 300 6,250 SH SOLE NONE 6,250 0 0 YACKTMAN FD INC MUTUAL 984281105 8 702 SH SOLE NONE 702 0 0 YAHOO INC COM 984332106 4 200 SH SOLE NONE 200 0 0 YORK WTR CO COM 987184108 131 9,000 SH SOLE NONE 9,000 0 0