Thomas Russo - Gardner Russo & Quinn 13F Activity & Position Changes (Q1 2017)

As of Mar 31, 2017, 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 2017, the filing reported:

New Buys - Chemours Company (The)

Increases - American Express Company, Brown Forman Inc, British American Tobacco Indus, Compagnie Financiere Richemont , Danone, and 5 more

Reductions - AbbVie Inc., Bank of America Corporation, Brown Forman Inc, Berkshire Hathaway Inc., Berkshire Hathaway Inc. New, and 22 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 2017	ABBV AbbVie Inc.	AbbVie Inc.	Sell	-906	-5.3%	$1.06K	16,200
Q1 2017	AXP American Express Company	American Express Company	Buy	+2,360	+1.5%	$12.74K	160,993
Q1 2017	BAC Bank of America Corporation	Bank of America Corporation	Sell	-1,600	-3.2%	$1.14K	48,500
Q1 2017	BF-A Brown Forman Inc	Brown Forman Inc	Sell	-96,931	-2.1%	$213.85K	4,543,152
Q1 2017	BF-B Brown Forman Inc	Brown Forman Inc	Buy	+131,683	+10.4%	$64.42K	1,395,094
Q1 2017	BRK-A Berkshire Hathaway Inc.	Berkshire Hathaway Inc.	Sell	-30	-0.6%	$1.22M	4,882
Q1 2017	BRK-B Berkshire Hathaway Inc. New	Berkshire Hathaway Inc. New	Sell	-62,831	-2.5%	$416.57K	2,499,201
Q1 2017	BTI British American Tobacco Indus	British American Tobacco Indus	Buy	+6,366	+114.8%	$790.00	11,912
Q1 2017	CC Chemours Company (The)	Chemours Company (The)	Buy - Position Entry	+6,779	-	$261.00	6,779
Q1 2017	CFRUY Compagnie Financiere Richemont	Compagnie Financiere Richemont	Buy	+19,980	+9.2%	$1.88K	237,105
Q1 2017	COTY Coty Inc.	Coty Inc.	Sell	-866	-1.9%	$802.00	44,210
Q1 2017	CVX Chevron Corporation	Chevron Corporation	Sell	-2,175	-7.4%	$2.90K	27,022
Q1 2017	DANOY Danone	Danone	Buy	+53,530	+7.8%	$10.05K	736,605
Q1 2017	DEO Diageo plc	Diageo plc	Sell	-6,070	-1.3%	$54.74K	473,651
Q1 2017	DOV Dover Corporation	Dover Corporation	Sell	-1,675	-2.8%	$4.60K	57,301
Q1 2017	FMX Fomento Economico Mexicano S.A.	Fomento Economico Mexicano S.A.	Buy	+850	+0.7%	$11.36K	128,280
Q1 2017	FULT Fulton Financial Corporation	Fulton Financial Corporation	Sell	-1,000	-1.1%	$1.55K	86,843
Q1 2017	HEINY Heineken N.V.	Heineken N.V.	Buy	+6,463	+17.0%	$1.90K	44,395
Q1 2017	HRL Hormel Foods Corporation	Hormel Foods Corporation	Sell	-5,600	-3.5%	$5.42K	156,649
Q1 2017	HTLD Heartland Express, Inc.	Heartland Express, Inc.	Sell	-600	-4.8%	$239.00	11,899
Q1 2017	IBM International Business Machines	International Business Machines	Sell	-390	-4.1%	$1.59K	9,159
Q1 2017	KHC The Kraft Heinz Company	The Kraft Heinz Company	Buy	+400	+1.8%	$2.02K	22,225
Q1 2017	KO Coca-Cola Company (The)	Coca-Cola Company (The)	Sell	-9,980	-5.5%	$7.33K	172,757
Q1 2017	LAMR Lamar Advertising Company	Lamar Advertising Company	Sell	-475	-3.4%	$1.01K	13,500
Q1 2017	MKC McCormick & Company, Incorporat	McCormick & Company, Incorporat	Sell	-550	-1.6%	$3.30K	33,805
Q1 2017	MKL Markel Group Inc.	Markel Group Inc.	Sell	-500	-4.3%	$10.99K	11,262
Q1 2017	MLKN MillerKnoll, Inc.	MillerKnoll, Inc.	Sell	-3,500	-1.7%	$6.57K	208,366
Q1 2017	MLM Martin Marietta Materials, Inc.	Martin Marietta Materials, Inc.	Sell	-34,667	-1.9%	$388.41K	1,779,672
Q1 2017	MSFT Microsoft Corporation	Microsoft Corporation	Sell	-1,150	-2.3%	$3.25K	49,400
Q1 2017	NSRGY Nestle S.A.	Nestle S.A.	Buy	+60,236	+0.4%	$1.23M	15,989,885

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