Thomas Russo - Gardner Russo & Quinn 13F Activity & Position Changes (Q1 2015)

As of Mar 31, 2015, the Gardner Russo & Quinn portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on May 13, 2026. The activity included new positions, additions to existing holdings, reductions, and complete exits, providing a clear view of how the portfolio evolved during the quarter.

During Q1 2015, the filing reported:

New Buys - None reported

Increases - Bank of America Corporation, Brown Forman Inc, Berkshire Hathaway Inc., Berkshire Hathaway Inc. New, Compagnie Financiere Richemont , and 9 more

Reductions - American Express Company, Brown Forman Inc, BP p.l.c., British American Tobacco Indus, Chevron Corporation, and 18 more

Complete Exits - Mattel, Inc., Northern Trust Corporation, Swiss Helvetia Fund, Inc. (The)

These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.

Date	Symbol	Name	Type	Change Qty	% Change	Value	Remaining
Q1 2015	AXP American Express Company	American Express Company	Sell	-5	-0.0%	$10.00K	127,994
Q1 2015	BAC Bank of America Corporation	Bank of America Corporation	Buy	+1,600	+3.2%	$786.00	51,100
Q1 2015	BF-A Brown Forman Inc	Brown Forman Inc	Sell	-9,775	-0.3%	$254.84K	2,807,200
Q1 2015	BF-B Brown Forman Inc	Brown Forman Inc	Buy	+40,125	+9.4%	$42.19K	466,975
Q1 2015	BP BP p.l.c.	BP p.l.c.	Sell	-94	-1.2%	$306.00	7,831
Q1 2015	BRK-A Berkshire Hathaway Inc.	Berkshire Hathaway Inc.	Buy	+4	+0.1%	$1.10M	5,064
Q1 2015	BRK-B Berkshire Hathaway Inc. New	Berkshire Hathaway Inc. New	Buy	+19,563	+0.8%	$356.28K	2,468,657
Q1 2015	BTI British American Tobacco Indus	British American Tobacco Indus	Sell	-6,805	-49.1%	$732.00	7,050
Q1 2015	CFRUY Compagnie Financiere Richemont	Compagnie Financiere Richemont	Buy	+9,700	+5.2%	$1.60K	198,000
Q1 2015	CVX Chevron Corporation	Chevron Corporation	Sell	-2,337	-5.2%	$4.44K	42,293
Q1 2015	DANOY Danone	Danone	Buy	+3,230	+1.6%	$2.77K	205,580
Q1 2015	DEO Diageo plc	Diageo plc	Buy	+28,292	+6.5%	$51.03K	461,545
Q1 2015	DIS Walt Disney Company (The)	Walt Disney Company (The)	Sell	-1,750	-26.5%	$509.00	4,850
Q1 2015	DOV Dover Corporation	Dover Corporation	Sell	-2,650	-3.5%	$5.05K	73,106
Q1 2015	FMX Fomento Economico Mexicano S.A.	Fomento Economico Mexicano S.A.	Buy	+5	+0.0%	$10.07K	107,745
Q1 2015	FULT Fulton Financial Corporation	Fulton Financial Corporation	Sell	-3,000	-5.6%	$625.00	50,688
Q1 2015	GD General Dynamics Corporation	General Dynamics Corporation	Sell	-1,250	-41.7%	$238.00	1,750
Q1 2015	GHC Graham Holdings Company	Graham Holdings Company	Sell	-56,744	-95.5%	$2.79K	2,660
Q1 2015	HEINY Heineken N.V.	Heineken N.V.	Buy	+225	+0.4%	$1.99K	52,162
Q1 2015	HRL Hormel Foods Corporation	Hormel Foods Corporation	Sell	-906	-0.8%	$6.05K	106,451
Q1 2015	IBM International Business Machines	International Business Machines	Sell	-300	-3.0%	$1.53K	9,549
Q1 2015	KO Coca-Cola Company (The)	Coca-Cola Company (The)	Sell	-4,475	-2.2%	$8.09K	199,492
Q1 2015	LAMR Lamar Advertising Company	Lamar Advertising Company	Buy	+2,900	+19.5%	$1.05K	17,760
Q1 2015	MAT Mattel, Inc.	Mattel, Inc.	Sell - Position Exit	-6,625	-100.0%	$0.00	-
Q1 2015	MCD McDonald's Corporation	McDonald's Corporation	Sell	-25	-0.7%	$355.00	3,645
Q1 2015	MKL Markel Group Inc.	Markel Group Inc.	Sell	-274	-1.7%	$12.49K	16,247
Q1 2015	MLKN MillerKnoll, Inc.	MillerKnoll, Inc.	Sell	-9,600	-2.9%	$8.98K	323,604
Q1 2015	MLM Martin Marietta Materials, Inc.	Martin Marietta Materials, Inc.	Buy	+30,665	+1.5%	$290.59K	2,078,583
Q1 2015	MRK Merck & Company, Inc.	Merck & Company, Inc.	Sell	-500	-11.5%	$220.00	3,836
Q1 2015	MSFT Microsoft Corporation	Microsoft Corporation	Sell	-5,100	-8.6%	$2.21K	54,450

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