Thomas Russo - Gardner Russo & Quinn 13F Activity & Position Changes (Q2 2014)

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 Jun 30, 2014. 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 Q2 2014, the filing reported:

New Buys - Union Pacific Corporation

Increases - American Express Company, Berkshire Hathaway Inc. New, British American Tobacco Indus, Compagnie Financiere Richemont , Walt Disney Company (The), and 6 more

Reductions - Brown Forman Inc, Brown Forman Inc, BP p.l.c., Berkshire Hathaway Inc., Chevron Corporation, and 17 more

Complete Exits - Colgate-Palmolive Company

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
Q2 2014	AXP American Express Company	American Express Company	Buy	+335	+0.3%	$12.31K	129,770
Q2 2014	BF-A Brown Forman Inc	Brown Forman Inc	Sell	-29,063	-1.0%	$262.94K	2,847,496
Q2 2014	BF-B Brown Forman Inc	Brown Forman Inc	Sell	-1,691	-0.4%	$40.71K	432,258
Q2 2014	BP BP p.l.c.	BP p.l.c.	Sell	-6,027	-43.2%	$418.00	7,923
Q2 2014	BRK-A Berkshire Hathaway Inc.	Berkshire Hathaway Inc.	Sell	-37	-0.7%	$963.21K	5,072
Q2 2014	BRK-B Berkshire Hathaway Inc. New	Berkshire Hathaway Inc. New	Buy	+26,530	+1.1%	$307.81K	2,432,159
Q2 2014	BTI British American Tobacco Indus	British American Tobacco Indus	Buy	+100	+0.7%	$1.64K	13,799
Q2 2014	CFRUY Compagnie Financiere Richemont	Compagnie Financiere Richemont	Buy	+3,350	+2.0%	$1.81K	172,625
Q2 2014	CL Colgate-Palmolive Company	Colgate-Palmolive Company	Sell - Position Exit	-8,900	-100.0%	$0.00	-
Q2 2014	CVX Chevron Corporation	Chevron Corporation	Sell	-6,330	-11.7%	$6.24K	47,777
Q2 2014	DANOY Danone	Danone	Sell	-4,590	-2.3%	$2.83K	190,810
Q2 2014	DEO Diageo plc	Diageo plc	Sell	-1,201	-0.3%	$53.96K	423,984
Q2 2014	DIS Walt Disney Company (The)	Walt Disney Company (The)	Buy	+400	+6.5%	$566.00	6,600
Q2 2014	FMX Fomento Economico Mexicano S.A.	Fomento Economico Mexicano S.A.	Sell	-240	-0.2%	$10.35K	110,560
Q2 2014	GHC Graham Holdings Company	Graham Holdings Company	Sell	-4,785	-6.5%	$49.03K	68,283
Q2 2014	HEINY Heineken N.V.	Heineken N.V.	Buy	+950	+1.8%	$1.90K	53,012
Q2 2014	HRL Hormel Foods Corporation	Hormel Foods Corporation	Sell	-4,032	-3.5%	$5.46K	110,731
Q2 2014	IBM International Business Machines	International Business Machines	Sell	-2,060	-15.1%	$2.10K	11,555
Q2 2014	KO Coca-Cola Company (The)	Coca-Cola Company (The)	Buy	+664	+0.3%	$8.83K	208,377
Q2 2014	MCD McDonald's Corporation	McDonald's Corporation	Sell	-290	-7.3%	$370.00	3,670
Q2 2014	MKC McCormick & Company, Incorporat	McCormick & Company, Incorporat	Sell	-2,500	-5.5%	$3.05K	42,580
Q2 2014	MKL Markel Group Inc.	Markel Group Inc.	Sell	-425	-2.2%	$12.13K	18,502
Q2 2014	MLKN MillerKnoll, Inc.	MillerKnoll, Inc.	Sell	-8,784	-2.5%	$10.49K	346,886
Q2 2014	MLM Martin Marietta Materials, Inc.	Martin Marietta Materials, Inc.	Sell	-20,190	-1.0%	$260.46K	1,972,412
Q2 2014	MRK Merck & Company, Inc.	Merck & Company, Inc.	Sell	-150	-3.3%	$254.00	4,386
Q2 2014	NSRGY Nestle S.A.	Nestle S.A.	Buy	+112,075	+0.8%	$1.14M	14,688,902
Q2 2014	PEP Pepsico, Inc.	Pepsico, Inc.	Sell	-859	-1.9%	$3.95K	44,239
Q2 2014	PG Procter & Gamble Company (The)	Procter & Gamble Company (The)	Sell	-5,510	-4.3%	$9.57K	121,787
Q2 2014	PGR Progressive Corporation (The)	Progressive Corporation (The)	Buy	+8,333	+70.6%	$511.00	20,133
Q2 2014	PM Philip Morris International Inc	Philip Morris International Inc	Buy	+33,160	+0.3%	$862.00K	10,224,197

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