Thomas Russo - Gardner Russo & Quinn 13F Activity & Position Changes (Q1 2018)

As of Mar 31, 2018, 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 2018, the filing reported:

New Buys - AB InBev, Compagnie Financiere Richemont, Comcast Corporation, Lindt & Spruengli, Costco Wholesale Corporation, and 20 more

Increases - Apple Inc., Brown Forman Inc, BP p.l.c., Berkshire Hathaway Inc. New, Chemours Company (The), and 10 more

Reductions - AbbVie Inc., American Express Company, Brown Forman Inc, Berkshire Hathaway Inc., British American Tobacco Indus, and 20 more

Complete Exits - ACNB Corporation, Amazon.com, Inc., Boeing Company (The), Bank of America, Franklin Resources, Inc., and 43 more

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 2018	AAPL Apple Inc.	Apple Inc.	Buy	+245	+16.9%	$284.00	1,695
Q1 2018	ABBV AbbVie Inc.	AbbVie Inc.	Sell	-400	-2.8%	$1.30K	13,700
Q1 2018	ACNB ACNB Corporation	ACNB Corporation	Sell - Position Exit	-881	-100.0%	$0.00	-
Q1 2018	AMZN Amazon.com, Inc.	Amazon.com, Inc.	Sell - Position Exit	-75	-100.0%	$0.00	-
Q1 2018	AXP American Express Company	American Express Company	Sell	-1,102	-0.7%	$15.27K	163,699
Q1 2018	BA Boeing Company (The)	Boeing Company (The)	Sell - Position Exit	-350	-100.0%	$0.00	-
Q1 2018	BAC.PRN Bank of America	Bank of America	Sell - Position Exit	-21	-100.0%	$0.00	-
Q1 2018	BEN Franklin Resources, Inc.	Franklin Resources, Inc.	Sell - Position Exit	-775	-100.0%	$0.00	-
Q1 2018	BF-A Brown Forman Inc	Brown Forman Inc	Sell	-7,346	-0.2%	$230.28K	4,318,029
Q1 2018	BF-B Brown Forman Inc	Brown Forman Inc	Buy	+1,336,023	+90.2%	$153.22K	2,816,490
Q1 2018	BK The Bank of New York Mellon Cor	The Bank of New York Mellon Cor	Sell - Position Exit	-1,500	-100.0%	$0.00	-
Q1 2018	BP BP p.l.c.	BP p.l.c.	Buy	+823	+18.4%	$215.00	5,298
Q1 2018	BRK-A Berkshire Hathaway Inc.	Berkshire Hathaway Inc.	Sell	-14	-0.3%	$1.40M	4,666
Q1 2018	BRK-B Berkshire Hathaway Inc. New	Berkshire Hathaway Inc. New	Buy	+50,081	+2.0%	$508.69K	2,550,076
Q1 2018	BTI British American Tobacco Indus	British American Tobacco Indus	Sell	-455	-4.2%	$605.00	10,492
Q1 2018	BUDFF AB InBev	AB InBev	Buy - Position Entry	+7,628,266	-	$837.59K	7,628,266
Q1 2018	CAT Caterpillar, Inc.	Caterpillar, Inc.	Sell - Position Exit	-650	-100.0%	$0.00	-
Q1 2018	CC Chemours Company (The)	Chemours Company (The)	Buy	+20	+0.3%	$312.00	6,408
Q1 2018	CFRHF Compagnie Financiere Richemont	Compagnie Financiere Richemont	Buy - Position Entry	+11,640,283	-	$1.04M	11,640,283
Q1 2018	CFRUY Compagnie Financiere Richemont	Compagnie Financiere Richemont	Sell	-30,105	-15.4%	$1.48K	165,560
Q1 2018	CL Colgate-Palmolive Company	Colgate-Palmolive Company	Sell - Position Exit	-2,100	-100.0%	$0.00	-
Q1 2018	CMCSA Comcast Corporation	Comcast Corporation	Buy - Position Entry	+7,122,137	-	$243.36K	7,122,137
Q1 2018	CNI Canadian National Railway Compa	Canadian National Railway Compa	Sell - Position Exit	-200	-100.0%	$0.00	-
Q1 2018	COCXF Lindt & Spruengli	Lindt & Spruengli	Buy - Position Entry	+27	-	$1.96K	27
Q1 2018	COST Costco Wholesale Corporation	Costco Wholesale Corporation	Buy - Position Entry	+5,473	-	$1.03K	5,473
Q1 2018	COTY Coty Inc.	Coty Inc.	Sell	-4,953	-11.9%	$670.00	36,590
Q1 2018	CPB The Campbell's Company	The Campbell's Company	Sell - Position Exit	-1,300	-100.0%	$0.00	-
Q1 2018	CSL Carlisle Companies Incorporated	Carlisle Companies Incorporated	Sell - Position Exit	-900	-100.0%	$0.00	-
Q1 2018	CSX CSX Corporation	CSX Corporation	Sell - Position Exit	-1,400	-100.0%	$0.00	-
Q1 2018	CVX Chevron Corporation	Chevron Corporation	Sell	-4,871	-28.3%	$1.41K	12,348

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