Thomas Russo - Gardner Russo & Quinn 13F Activity & Position Changes (Q2 2016)

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, 2016. 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 2016, the filing reported:

New Buys - BP p.l.c., Johnson & Johnson, Pfizer, Inc., Union Pacific Corporation

Increases - American Express Company, Brown Forman Inc, Danone, Diageo, Walt Disney Company (The), and 7 more

Reductions - AbbVie Inc., Abbott Laboratories, Brown Forman Inc, Berkshire Hathaway Inc., Berkshire Hathaway Inc. New, and 15 more

Complete Exits - Merck & Company, Inc., Phillips 66

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 2016	ABBV AbbVie Inc.	AbbVie Inc.	Sell	-4,612	-21.2%	$1.06K	17,106
Q2 2016	ABT Abbott Laboratories	Abbott Laboratories	Sell	-4,000	-19.6%	$645.00	16,400
Q2 2016	AXP American Express Company	American Express Company	Buy	+2,075	+1.4%	$9.35K	153,848
Q2 2016	BF-A Brown Forman Inc	Brown Forman Inc	Sell	-33,017	-1.4%	$260.12K	2,407,865
Q2 2016	BF-B Brown Forman Inc	Brown Forman Inc	Buy	+14,730	+2.6%	$58.80K	589,364
Q2 2016	BP BP p.l.c.	BP p.l.c.	Buy - Position Entry	+5,696	-	$202.00	5,696
Q2 2016	BRK-A Berkshire Hathaway Inc.	Berkshire Hathaway Inc.	Sell	-14	-0.3%	$1.08M	4,999
Q2 2016	BRK-B Berkshire Hathaway Inc. New	Berkshire Hathaway Inc. New	Sell	-6,095	-0.2%	$374.21K	2,584,509
Q2 2016	BTI British American Tobacco Indus	British American Tobacco Indus	Sell	-620	-10.1%	$714.00	5,516
Q2 2016	CFRUY Compagnie Financiere Richemont	Compagnie Financiere Richemont	Sell	-14,750	-6.4%	$1.25K	215,500
Q2 2016	CVX Chevron Corporation	Chevron Corporation	Sell	-2,344	-5.7%	$4.04K	38,539
Q2 2016	DANOY Danone	Danone	Buy	+28,470	+4.5%	$9.40K	666,970
Q2 2016	DEO Diageo	Diageo	Buy	+2,992	+0.6%	$53.74K	476,124
Q2 2016	DIS Walt Disney Company (The)	Walt Disney Company (The)	Buy	+100	+2.1%	$480.00	4,903
Q2 2016	DOV Dover Corporation	Dover Corporation	Sell	-4,850	-7.5%	$4.16K	60,076
Q2 2016	FMX Fomento Economico Mexicano S.A.	Fomento Economico Mexicano S.A.	Buy	+2,265	+1.9%	$11.44K	123,735
Q2 2016	HEINY Heineken N.V.	Heineken N.V.	Sell	-3,475	-8.3%	$1.76K	38,362
Q2 2016	HRL Hormel Foods Corporation	Hormel Foods Corporation	Sell	-4,220	-2.5%	$6.07K	165,849
Q2 2016	IBM International Business Machines	International Business Machines	Buy	+2,600	+30.0%	$1.71K	11,274
Q2 2016	JNJ Johnson & Johnson	Johnson & Johnson	Buy - Position Entry	+2,050	-	$249.00	2,050
Q2 2016	KHC The Kraft Heinz Company	The Kraft Heinz Company	Buy	+500	+2.4%	$1.90K	21,450
Q2 2016	KO Coca-Cola Company (The)	Coca-Cola Company (The)	Sell	-8,075	-3.9%	$8.94K	197,107
Q2 2016	MKC McCormick & Company, Incorporat	McCormick & Company, Incorporat	Sell	-2,025	-5.1%	$4.00K	37,455
Q2 2016	MKL Markel Group Inc.	Markel Group Inc.	Sell	-865	-6.6%	$11.69K	12,272
Q2 2016	MLKN MillerKnoll, Inc.	MillerKnoll, Inc.	Sell	-11,234	-4.7%	$6.79K	227,043
Q2 2016	MLM Martin Marietta Materials, Inc.	Martin Marietta Materials, Inc.	Sell	-18,085	-0.9%	$400.43K	2,085,558
Q2 2016	MRK Merck & Company, Inc.	Merck & Company, Inc.	Sell - Position Exit	-3,836	-100.0%	$0.00	-
Q2 2016	MSFT Microsoft Corporation	Microsoft Corporation	Buy	+700	+1.4%	$2.57K	50,150
Q2 2016	NSRGY Nestle S.A.	Nestle S.A.	Buy	+15,562	+0.1%	$1.22M	15,839,365
Q2 2016	PEP Pepsico, Inc.	Pepsico, Inc.	Sell	-1,499	-4.1%	$3.72K	35,148

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