13F-HR/A 1 inftable.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 90549 Form 13F Form 13F Cover Page Report for the Calendar Year or Quarter Ended: December 31, 2009 Check here if Amendment [ x ]; Amendment Number: 1 This Amendment (Check only one.) : [ x ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Gamble Jones Investment Counsel Address: 301 E. Colorado Blvd. #802 Pasadena, CA 91101 13F File Number: 028-04501 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: Ashley A. Jones Title: Compliance Officer Phone: 626-795-7583 Signature, Place and Date of Signing Ashley A. Jones Pasadena, CA 5/25/11 Report Type (Check only one): [ x ] 13F HOLDINGS REPORT [ ] 13F NOTICE [ ] 13F COMBINATION REPORT FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 173 Form 13F Information Table Value Total: 643049 (in thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional managers with respect to which this report is filed, other than the manager filing this report. NONE FORM 13F INFORMATION TABLE VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- 3M Company COMM 88579y101 14544 175923 SH SOLE 4007 168058 ABB Ltd. COMM 362 18975 SH SOLE 18975 AMBAC Financial Group COMM 023139108 8 10000 SH SOLE 10000 AT&T Inc COMM 00206r102 2681 95649 SH SOLE 900 91749 Abbott Laboratories COMM 002824100 16911 313225 SH SOLE 1575 306300 Advanced Micro Devices Inc COMM 007903107 344 35500 SH SOLE 35500 Agilent Technologies COMM 00846U101 279 8988 SH SOLE 8788 Alamitos Ridge LLC COMM 223 4200 SH SOLE 4200 Allergan, Inc. COMM 018490102 269 4274 SH SOLE 60 Allstate Corp. COMM 020002101 298 9931 SH SOLE 350 9931 Altria Group COMM 02209s103 2023 103032 SH SOLE 103032 Amazon.com COMM 023135106 1397 10387 SH SOLE 5287 America Movil SA ADR COMM 02364W105 4352 92644 SH SOLE 92644 American Express COMM 025816109 813 20061 SH SOLE 350 20061 Amgen Inc. COMM 031162100 11456 202514 SH SOLE 900 158514 Annaly Capital Management Inc. COMM 035710409 323 18625 SH SOLE 18625 Apple Computer COMM 037833100 6045 28685 SH SOLE 100 26785 Automatic Data Processing COMM 053015103 840 19618 SH SOLE 19618 Avery Dennison Corp. COMM 053611109 1026 28123 SH SOLE 28123 Axial Vector Engine COMM 5 50000 SH SOLE 50000 BB&T Corp COMM 088906102 276 10872 SH SOLE 10872 BP PLC ADR COMM 055622104 12034 207594 SH SOLE 450 200894 Bank of New York Mellon Corpor COMM 064058100 316 11290 SH SOLE 11290 BankAmerica Corp COMM 060505104 1226 81388 SH SOLE 1600 81388 Berkshire Hathaway COMM 084670108 1587 16 SH SOLE 16 Berkshire Hathaway B COMM 084670207 3325 1012 SH SOLE 8 957 Boeing COMM 097023105 1505 27808 SH SOLE 27108 Bristol-Myers Squibb COMM 110122108 7388 292588 SH SOLE 290438 CIGNA Corp COMM 125509109 283 8014 SH SOLE 8014 Campbell Soup COMM 134429109 871 25780 SH SOLE 25780 Canadian Pac LTD COMM 13645t100 1003 18570 SH SOLE 18420 Caterpillar Tractor COMM 149123101 4366 76613 SH SOLE 74763 Celgene Corporation COMM 151020104 401 7207 SH SOLE 5982 Charles Schwab COMM 808513105 386 20498 SH SOLE 20498 Chevron Corp COMM 166764100 10995 142810 SH SOLE 142260 Cisco Systems COMM 17275R102 6336 264656 SH SOLE 400 243156 Citigroup COMM 172967101 494 149106 SH SOLE 119106 Clorox COMM 189054109 1541 25264 SH SOLE 25264 Coca Cola COMM 191216100 7469 131039 SH SOLE 1550 128859 Cognizant Technology Solutions COMM 192446102 453 10000 SH SOLE 10000 Colgate-Palmolive COMM 194162103 2104 25608 SH SOLE 175 25058 Conagra Foods Inc. COMM 205887102 439 19056 SH SOLE 19056 ConocoPhillips COMM 20825c104 1700 33279 SH SOLE 32879 Costco Wholesale Corp COMM 22160k105 2666 45048 SH SOLE 39223 Deere & Company COMM 244199105 4288 79275 SH SOLE 1050 79275 Diageo PLC COMM 25243q205 984 14177 SH SOLE 400 10777 Dow Chemical COMM 260543103 1320 47791 SH SOLE 25458 Du Pont Co. COMM 263534109 1053 31280 SH SOLE 30580 Dun & Bradstreet COMM 26483e100 1190 14100 SH SOLE 14100 E-Trade Fin Corp COMM 269246104 35 20000 SH SOLE 20000 Edison International COMM 281020107 520 14960 SH SOLE 425 14535 Emerson Elec. COMM 291011104 9815 230390 SH SOLE 2100 219290 Energy Transfer Partners LP COMM 29273r109 280 6225 SH SOLE 6225 Enterprise Products Partners L COMM 293792107 308 9806 SH SOLE 9806 Exelon Corp COMM 30161n101 1500 30694 SH SOLE 100 26694 Exxon Mobil COMM 30231g102 27003 395998 SH SOLE 1942 394583 Fedex Corp COMM 31304N107 2562 30702 SH SOLE 30702 Figueroa Hotel Real Estate COMM 293 154 SH SOLE 154 First Solar, Inc. COMM 336433107 213 1570 SH SOLE 1570 Ford Motor Co. COMM 345370860 260 26023 SH SOLE 26023 Freeport McMoran Copper & Gold COMM 35671d857 770 9595 SH SOLE 9295 General Electric COMM 369604103 14830 980173 SH SOLE 6200 963798 Genuine Parts COMM 372460105 1043 27489 SH SOLE 27489 Gilead Sciences Inc COMM 375558103 231 5337 SH SOLE 4537 GlaxoSmithKline COMM 37733w105 2919 69093 SH SOLE 450 69093 Google Inc COMM 38259P508 3296 5316 SH SOLE 52 4274 Guangshen Railway Co. Ltd COMM 40065w107 211 10400 SH SOLE 7150 Halliburton COMM 406216101 228 7589 SH SOLE 2000 6089 Harsco Corp COMM 415864107 1225 38000 SH SOLE 38000 Heinz, H.J. COMM 423074103 1684 39380 SH SOLE 39380 Hershey Foods COMM 427866108 411 11480 SH SOLE 11480 Hewlett-Packard COMM 428236103 2952 57313 SH SOLE 57313 Home Depot COMM 437076102 1001 34617 SH SOLE 34617 Honeywell International, Inc. COMM 438516106 2209 56354 SH SOLE 56354 Hospira COMM 441060100 511 10029 SH SOLE 10029 Huaneng Power International In COMM 443304100 244 10875 SH SOLE 10875 Illinois Tool Works COMM 452308109 351 7310 SH SOLE 7310 Intel Corp COMM 458140100 15247 747382 SH SOLE 655492 Intl Bus Machines COMM 459200101 9347 71402 SH SOLE 1060 68332 J M Smucker COMM 832696306 1959 31721 SH SOLE 31721 J.P. Morgan Chase & Co COMM 46625h100 1044 25048 SH SOLE 1200 25048 Jacobs Engineering COMM 469814107 367 9750 SH SOLE 200 7750 Jefferies Group COMM tomjones0 2041 86000 SH SOLE 86000 Johnson & Johnson COMM 478160104 21275 330300 SH SOLE 2045 321175 Kimberly Clark COMM 494368103 2236 35091 SH SOLE 900 35091 Kinder Morgan Energy Partners COMM 494550106 539 8831 SH SOLE 8831 Kinder Morgan Mgmt LLC COMM 49455u100 1861 34057 SH SOLE 228 34057 Kraft Foods COMM 50075n104 2067 76052 SH SOLE 735 72052 Level 3 Communications Del COMM 52729N100 18 12000 SH SOLE 12000 Lilly, Eli & Co COMM 532457108 575 16115 SH SOLE 300 15815 Linn Energy, LLC. COMM 350 12544 SH SOLE 200 9544 Lowes Companies COMM 548661107 703 30072 SH SOLE 650 30072 Maxim Intergrated COMM 57772K101 559 27515 SH SOLE 27515 McDonalds COMM 580135101 2940 47086 SH SOLE 1625 46861 Medco Health Solutions COMM 58405u102 1643 25701 SH SOLE 25701 Medtronic Inc. COMM 585055106 1107 25175 SH SOLE 21965 Merck & Co. Inc. COMM 589331107 1630 44598 SH SOLE 44598 Microsoft Corp. COMM 594918104 5811 190641 SH SOLE 2225 185276 Monsanto Co. COMM 61166w101 1648 20161 SH SOLE 300 20161 Motorola Inc COMM 620076109 143 18478 SH SOLE 18478 Murphy Oil Corp COMM 626717102 344 6350 SH SOLE 4450 Natural Resource Partners LP COMM 63900p103 2460 101468 SH SOLE 550 98518 Nestle (ADR) COMM 641069406 259 5341 SH SOLE 5341 Nordstrom COMM 655664100 684 18200 SH SOLE 18200 Norfolk Southern Corp COMM 655844108 1328 25338 SH SOLE 930 25208 Northrop Grumann Corp COMM 666807102 506 9065 SH SOLE 9065 Northwest Natural Gas COMM 667655104 889 19739 SH SOLE 19739 Novartis A G Spon ADR COMM 66987v109 1381 25370 SH SOLE 365 22370 Nucor Corp COMM 670346105 289 6188 SH SOLE 6188 Nvidia Corp. COMM 67066g104 920 49270 SH SOLE 37470 Occidental Petroleum COMM 674599105 280 3441 SH SOLE 3441 Oracle Corp. COMM 68389X105 876 35712 SH SOLE 35712 PACCAR, Inc. COMM 693718108 1362 37564 SH SOLE 1500 37564 PG&E Corp COMM 69331C108 418 9351 SH SOLE 9351 PNC Financial Services Group, COMM 693475105 326 6175 SH SOLE 6175 PPG Industries COMM 693506107 759 12966 SH SOLE 12966 Paychex COMM 704326107 1471 48019 SH SOLE 1265 48019 Peabody Energy Corp. COMM 704549104 523 11575 SH SOLE 11575 Penn Virginia Resource Partner COMM 707884102 563 26092 SH SOLE 26092 PepsiCo COMM 713448108 6995 115042 SH SOLE 1105 109992 Petroleo Bras Petrob COMM 254 6000 SH SOLE 6000 Pfizer, Inc COMM 717081103 13053 717608 SH SOLE 1000 705553 Philip Morris Intl Inc. COMM 718172109 7327 152035 SH SOLE 890 148520 Potash Corp Sask COMM 73755L107 617 5685 SH SOLE 5685 Praxair COMM 74005P104 2258 28115 SH SOLE 3609 Precision Castparts Corp. COMM 740189105 226 2048 SH SOLE 2048 Procter & Gamble COMM 742718109 210587 3473319 SH SOLE 2220 3252973 Qualcomm Inc. COMM 747525103 1834 39651 SH SOLE 30 34021 RadiSys Corp. COMM 262 27391 SH SOLE 27391 Raytheon Co COMM 755111057 513 9950 SH SOLE 9950 Realty Income COMM 756109104 220 8489 SH SOLE 8489 Research In Motion Ltd COMM 760975102 1555 23030 SH SOLE 20600 Rio Tinto PLC COMM 767204100 266 1235 SH SOLE 1235 Royal Bank of Canada COMM 780087102 630 11760 SH SOLE 11760 Royal Dutch Shell A COMM 780259206 4526 75292 SH SOLE 1050 70542 Royal Dutch Shell B COMM 780259107 1226 21093 SH SOLE 500 18293 Schlumberger Ltd COMM 806857108 7055 108392 SH SOLE 300 108257 Southern Copper Corp. COMM 84265v105 374 11376 SH SOLE 285 11091 State Street Corp. COMM 857477103 957 21981 SH SOLE 21981 Suburban Propane Ptnrs LP COMM 864482104 260 5513 SH SOLE 5263 Sysco Corp COMM 871829107 2453 87813 SH SOLE 1900 77813 Target Corp. COMM 87612E106 877 18124 SH SOLE 16324 Teva Pharmaceutical COMM 881624209 590 10509 SH SOLE 8909 Texas Instruments COMM 882508104 1176 45118 SH SOLE 31118 Thermo Fisher Scientific, Inc. COMM 883556102 228 4790 SH SOLE 4790 Thomson Reuters Corp. COMM 266 8256 SH SOLE 8256 TigerLogic Corporation COMM 8867eq101 39 12000 SH SOLE 6000 Toyota Motor Corp COMM 892331307 256 3040 SH SOLE 1040 Transocean Ltd COMM G90073100 814 9836 SH SOLE 275 9836 US Bancorp COMM 902973106 503 22327 SH SOLE 22327 Unilever New York Shares COMM 904784709 1743 53915 SH SOLE 53915 Union Pacific COMM 907818108 313 4899 SH SOLE 4899 United Parcel Service COMM 911312106 2535 44184 SH SOLE 42884 United Technologies COMM 913017109 4818 69420 SH SOLE 61420 UnitedHealthcare Group COMM 91324p102 791 25943 SH SOLE 475 25693 Valero Energy COMM 91913Y100 240 14300 SH SOLE 250 9050 Vanguard Small Cap Value COMM 922908611 499 9160 SH SOLE 9160 Verizon Communications COMM 92343V104 2403 72523 SH SOLE 550 71523 Visa Inc. COMM 92826c839 2105 24065 SH SOLE 18015 Vodafone Group Plc COMM 92857w209 2640 114333 SH SOLE 200 114158 Wal-Mart Stores COMM 931142103 2200 41167 SH SOLE 400 41167 Walgreen COMM 931422109 11786 320958 SH SOLE 2325 312958 Walt Disney Co. COMM 254687106 2428 75283 SH SOLE 1080 65653 Washington Mutual COMM 2 13000 SH SOLE 13000 WellPoint Inc. COMM 94973V107 256 4400 SH SOLE 4400 Wells Fargo COMM 949746101 4120 152661 SH SOLE 1020 143961 Wesco Financial Corp. COMM 950817106 1063 3100 SH SOLE 3100 Western Union Company COMM 959802109 644 34179 SH SOLE 34179 Weststar Financial Services Co COMM 155 44389 SH SOLE 44389 Weyerhaeuser COMM 962166104 276 6405 SH SOLE 6405 Yahoo! COMM 984332106 364 21708 SH SOLE 21708 Yum Brands Inc. COMM 895953107 279 7975 SH SOLE 7975 Zimmer Holdings, Inc COMM 98956p102 1733 29321 SH SOLE 800 25321