Thomas Russo - Gardner Russo & Quinn 13F Activity & Position Changes (Q2 2015)

As of Jun 30, 2015, 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 Q2 2015, the filing reported:

New Buys - None reported

Increases - American Express Company, Brown Forman Inc, Berkshire Hathaway Inc., Berkshire Hathaway Inc. New, Danone, and 6 more

Reductions - Brown Forman Inc, BP p.l.c., British American Tobacco Indus, Compagnie Financiere Richemont , Chevron Corporation, and 19 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
Q2 2015	AXP American Express Company	American Express Company	Buy	+25,094	+19.6%	$11.90K	153,088
Q2 2015	BF-A Brown Forman Inc	Brown Forman Inc	Sell	-88,474	-3.2%	$302.92K	2,718,726
Q2 2015	BF-B Brown Forman Inc	Brown Forman Inc	Buy	+50,458	+10.8%	$51.84K	517,433
Q2 2015	BP BP p.l.c.	BP p.l.c.	Sell	-17	-0.2%	$312.00	7,814
Q2 2015	BRK-A Berkshire Hathaway Inc.	Berkshire Hathaway Inc.	Buy	+38	+0.8%	$1.05M	5,102
Q2 2015	BRK-B Berkshire Hathaway Inc. New	Berkshire Hathaway Inc. New	Buy	+3,879	+0.2%	$336.54K	2,472,536
Q2 2015	BTI British American Tobacco Indus	British American Tobacco Indus	Sell	-125	-1.8%	$750.00	6,925
Q2 2015	CFRUY Compagnie Financiere Richemont	Compagnie Financiere Richemont	Sell	-5,650	-2.9%	$1.56K	192,350
Q2 2015	CVX Chevron Corporation	Chevron Corporation	Sell	-320	-0.8%	$4.05K	41,973
Q2 2015	DANOY Danone	Danone	Buy	+265,750	+129.3%	$6.09K	471,330
Q2 2015	DEO Diageo plc	Diageo plc	Buy	+3,262	+0.7%	$53.94K	464,807
Q2 2015	DOV Dover Corporation	Dover Corporation	Sell	-900	-1.2%	$5.07K	72,206
Q2 2015	FMX Fomento Economico Mexicano S.A.	Fomento Economico Mexicano S.A.	Buy	+19,290	+17.9%	$11.32K	127,035
Q2 2015	FULT Fulton Financial Corporation	Fulton Financial Corporation	Sell	-13,658	-26.9%	$484.00	37,030
Q2 2015	GD General Dynamics Corporation	General Dynamics Corporation	Sell	-150	-8.6%	$227.00	1,600
Q2 2015	GHC Graham Holdings Company	Graham Holdings Company	Sell	-2,457	-92.4%	$218.00	203
Q2 2015	HEINY Heineken N.V.	Heineken N.V.	Sell	-1,825	-3.5%	$1.91K	50,337
Q2 2015	HRL Hormel Foods Corporation	Hormel Foods Corporation	Sell	-682	-0.6%	$5.96K	105,769
Q2 2015	HTLD Heartland Express, Inc.	Heartland Express, Inc.	Sell	-2,000	-13.8%	$253.00	12,499
Q2 2015	IBM International Business Machines	International Business Machines	Sell	-25	-0.3%	$1.55K	9,524
Q2 2015	KO Coca-Cola Company (The)	Coca-Cola Company (The)	Buy	+27,995	+14.0%	$8.92K	227,487
Q2 2015	LAMR Lamar Advertising Company	Lamar Advertising Company	Sell	-475	-2.7%	$994.00	17,285
Q2 2015	MKC McCormick & Company, Incorporat	McCormick & Company, Incorporat	Sell	-250	-0.6%	$3.44K	42,505
Q2 2015	MKL Markel Group Inc.	Markel Group Inc.	Sell	-119	-0.7%	$12.91K	16,128
Q2 2015	MLKN MillerKnoll, Inc.	MillerKnoll, Inc.	Sell	-4,027	-1.2%	$9.24K	319,577
Q2 2015	MLM Martin Marietta Materials, Inc.	Martin Marietta Materials, Inc.	Buy	+17,825	+0.9%	$296.66K	2,096,408
Q2 2015	NSRGY Nestle S.A.	Nestle S.A.	Buy	+219,047	+1.4%	$1.14M	15,842,688
Q2 2015	PEP Pepsico, Inc.	Pepsico, Inc.	Sell	-1,049	-2.6%	$3.72K	39,892
Q2 2015	PG Procter & Gamble Company (The)	Procter & Gamble Company (The)	Sell	-6,015	-5.5%	$8.07K	103,172
Q2 2015	PM Philip Morris International Inc	Philip Morris International Inc	Buy	+334,598	+3.3%	$836.04K	10,428,329

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