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

According to the SEC 13F filed on Aug 13, 2026, the Gardner Russo & Quinn portfolio showed several notable changes in holdings as of quarter-end Mar 31, 2016. 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 plc	Diageo plc	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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