Thomas Russo - Gardner Russo & Quinn 13F Activity & Position Changes (Q1 2016)

As of Mar 31, 2016, 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 2016, the filing reported:

New Buys - The Kraft Heinz Company, Mattel, Inc., Phillips 66

Increases - American Express Company, Brown Forman Inc, Berkshire Hathaway Inc. New, British American Tobacco Indus, Compagnie Financiere Richemont , and 7 more

Reductions - AbbVie Inc., Abbott Laboratories, Brown Forman Inc, Berkshire Hathaway Inc., Carlisle Companies Incorporated, and 17 more

Complete Exits - None reported

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 2016	ABBV AbbVie Inc.	AbbVie Inc.	Sell	-65,000	-75.0%	$1.24K	21,718
Q1 2016	ABT Abbott Laboratories	Abbott Laboratories	Sell	-65,000	-76.1%	$853.00	20,400
Q1 2016	AXP American Express Company	American Express Company	Buy	+1,755	+1.2%	$9.32K	151,773
Q1 2016	BF-A Brown Forman Inc	Brown Forman Inc	Sell	-51,306	-2.1%	$260.42K	2,440,882
Q1 2016	BF-B Brown Forman Inc	Brown Forman Inc	Buy	+19,869	+3.6%	$56.58K	574,634
Q1 2016	BRK-A Berkshire Hathaway Inc.	Berkshire Hathaway Inc.	Sell	-42	-0.8%	$1.07M	5,013
Q1 2016	BRK-B Berkshire Hathaway Inc. New	Berkshire Hathaway Inc. New	Buy	+10,347	+0.4%	$367.56K	2,590,604
Q1 2016	BTI British American Tobacco Indus	British American Tobacco Indus	Buy	+75	+1.2%	$717.00	6,136
Q1 2016	CFRUY Compagnie Financiere Richemont	Compagnie Financiere Richemont	Buy	+23,150	+11.2%	$1.53K	230,250
Q1 2016	CSL Carlisle Companies Incorporated	Carlisle Companies Incorporated	Sell	-300	-10.0%	$269.00	2,700
Q1 2016	CVX Chevron Corporation	Chevron Corporation	Sell	-577	-1.4%	$3.90K	40,883
Q1 2016	DANOY Danone	Danone	Buy	+44,495	+7.5%	$9.10K	638,500
Q1 2016	DEO Diageo	Diageo	Buy	+2,222	+0.5%	$51.04K	473,132
Q1 2016	DIS Walt Disney Company (The)	Walt Disney Company (The)	Sell	-447	-8.5%	$477.00	4,803
Q1 2016	DOV Dover Corporation	Dover Corporation	Sell	-200	-0.3%	$4.18K	64,926
Q1 2016	FMX Fomento Economico Mexicano S.A.	Fomento Economico Mexicano S.A.	Buy	+450	+0.4%	$11.70K	121,470
Q1 2016	FULT Fulton Financial Corporation	Fulton Financial Corporation	Buy	+3,400	+10.8%	$467.00	34,930
Q1 2016	HEINY Heineken N.V.	Heineken N.V.	Buy	+675	+1.6%	$1.90K	41,837
Q1 2016	HRL Hormel Foods Corporation	Hormel Foods Corporation	Buy	+70,980	+71.6%	$7.35K	170,069
Q1 2016	IBM International Business Machines	International Business Machines	Sell	-460	-5.0%	$1.31K	8,674
Q1 2016	KHC The Kraft Heinz Company	The Kraft Heinz Company	Buy - Position Entry	+20,950	-	$1.65K	20,950
Q1 2016	KO Coca-Cola Company (The)	Coca-Cola Company (The)	Sell	-1,145	-0.6%	$9.52K	205,182
Q1 2016	LAMR Lamar Advertising Company	Lamar Advertising Company	Sell	-850	-5.5%	$902.00	14,660
Q1 2016	MAT Mattel, Inc.	Mattel, Inc.	Buy - Position Entry	+6,625	-	$223.00	6,625
Q1 2016	MCD McDonald's Corporation	McDonald's Corporation	Sell	-5	-0.1%	$457.00	3,640
Q1 2016	MKC McCormick & Company, Incorporat	McCormick & Company, Incorporat	Sell	-1,675	-4.1%	$3.93K	39,480
Q1 2016	MKL Markel Group Inc.	Markel Group Inc.	Sell	-1,420	-9.8%	$11.71K	13,137
Q1 2016	MLKN MillerKnoll, Inc.	MillerKnoll, Inc.	Sell	-59,800	-20.1%	$7.36K	238,277
Q1 2016	MLM Martin Marietta Materials, Inc.	Martin Marietta Materials, Inc.	Buy	+1,170	+0.1%	$335.55K	2,103,643
Q1 2016	NSRGY Nestle S.A.	Nestle S.A.	Sell	-53,465	-0.3%	$1.19M	15,823,803

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