Currently Being ModeratedNov 7, 2012 1:11 PM (in response to Dan McKinney)
Since upgrading from Snow Leopard to Mountain Lion and moving my contacts to my iCloud account I see the same symptom. I thought it might be a Spotlight indexing issue, but forcing the Spotlight indexes to be rebuilt did not make a difference.
See also https://discussions.apple.com/thread/4364563 for another report that I think may refer to the same issue.
Currently Being ModeratedNov 13, 2012 7:26 AM (in response to Ray_Z)
Figured out my issue ... turned out I had on old copy of my "~/Library/Application Support/AddressBook" directory elsewhere on my drive. I'd made a duplicate before upgrading from Snow Leopard to Mt Lion and iCloud. Deleting that old backup directory fixed the problem.