Thomas Russo - Gardner Russo & Quinn 13F Activity & Position Changes (Q1 2026)

According to the SEC 13F filed on May 13, 2026, the Gardner Russo & Quinn portfolio showed several notable changes in holdings as of quarter-end Mar 31, 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 2026, the filing reported:

New Buys - Eurofins, Merck & Company, Inc.

Increases - Apple Inc., DoorDash, Inc., Walt Disney Company (The), De'Longhi, Electrolux Professional, and 12 more

Reductions - American Express Company, Brown Forman Inc, Brown Forman Inc, Berkshire Hathaway Inc., Berkshire Hathaway Inc. New, and 34 more

Complete Exits - Ashtead Group, Diageo, Hyatt Hotels Corporation, International Business Machines, PNC Financial Services Group, I

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 2026	AAPL Apple Inc.	Apple Inc.	Buy	+77	+1.6%	$1.21M	4,751
Q1 2026	ASHTF Ashtead Group	Ashtead Group	Sell - Position Exit	-6,111,758	-100.0%	$0.00	-
Q1 2026	AXP American Express Company	American Express Company	Sell	-5,675	-46.7%	$1.96M	6,485
Q1 2026	BF-A Brown Forman Inc	Brown Forman Inc	Sell	-20,216	-1.2%	$44.15M	1,647,878
Q1 2026	BF-B Brown Forman Inc	Brown Forman Inc	Sell	-48,485	-6.8%	$17.44M	659,694
Q1 2026	BRK-A Berkshire Hathaway Inc.	Berkshire Hathaway Inc.	Sell	-28	-1.9%	$1.05B	1,460
Q1 2026	BRK-B Berkshire Hathaway Inc. New	Berkshire Hathaway Inc. New	Sell	-14,966	-1.3%	$532.12M	1,110,429
Q1 2026	BUDFF AB InBev	AB InBev	Sell	-81,515	-30.7%	$12.66M	184,010
Q1 2026	CABJF Carlsberg	Carlsberg	Sell	-13,219	-57.2%	$1.22M	9,872
Q1 2026	CAT Caterpillar, Inc.	Caterpillar, Inc.	Sell	-100	-18.2%	$318.81K	450
Q1 2026	CFRHF Compagnie Financiere Richemont	Compagnie Financiere Richemont	Sell	-54,818	-1.6%	$594.39M	3,447,287
Q1 2026	CMCSA Comcast Corporation	Comcast Corporation	Sell	-47,091	-2.0%	$64.69M	2,253,106
Q1 2026	CR Crane Company	Crane Company	Sell	-7,775	-14.3%	$7.97M	46,626
Q1 2026	CVX Chevron Corporation	Chevron Corporation	Sell	-200	-7.5%	$511.04K	2,470
Q1 2026	DASH DoorDash, Inc.	DoorDash, Inc.	Buy	+70,728	+7.6%	$150.33M	1,001,195
Q1 2026	DGEAF Diageo	Diageo	Sell - Position Exit	-129,805	-100.0%	$0.00	-
Q1 2026	DIS Walt Disney Company (The)	Walt Disney Company (The)	Buy	+7	+0.3%	$242.59K	2,517
Q1 2026	DLG.MI De'Longhi	De'Longhi	Buy	+3,750	+10.6%	$1.35M	39,000
Q1 2026	DOV Dover Corporation	Dover Corporation	Sell	-400	-2.0%	$3.99M	19,126
Q1 2026	DVDCF Campari	Campari	Sell	-40,090	-16.6%	$1.43M	202,013
Q1 2026	ECTXF Electrolux Professional	Electrolux Professional	Buy	+30,000	+15.0%	$1.22M	230,000
Q1 2026	FLMNF Fielmann	Fielmann	Buy	+7,300	+28.4%	$1.66M	33,000
Q1 2026	FLUIF Fluidra	Fluidra	Buy	+11,000	+18.6%	$1.59M	70,000
Q1 2026	FULT Fulton Financial Corporation	Fulton Financial Corporation	Sell	-5,150	-9.5%	$995.64K	48,950
Q1 2026	GOOG Alphabet Inc.	Alphabet Inc.	Sell	-580,860	-14.8%	$961.08M	3,350,337
Q1 2026	GOOGL Alphabet Inc.	Alphabet Inc.	Sell	-3,306	-22.2%	$3.34M	11,610
Q1 2026	H Hyatt Hotels Corporation	Hyatt Hotels Corporation	Sell - Position Exit	-8,675	-100.0%	$0.00	-
Q1 2026	HKHHF Heineken Holding	Heineken Holding	Sell	-98,748	-1.1%	$643.36M	9,101,528
Q1 2026	HRL Hormel Foods Corporation	Hormel Foods Corporation	Sell	-835	-4.2%	$430.35K	19,000
Q1 2026	IBM International Business Machines	International Business Machines	Sell - Position Exit	-750	-100.0%	$0.00	-

Page 1 of 3