Thomas Russo - Gardner Russo & Quinn 13F Activity & Position Changes (Q3 2017)

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 Sep 30, 2017. 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 Q3 2017, the filing reported:

New Buys - Phillips 66

Increases - AbbVie Inc., American Express Company, Brown Forman Inc, Berkshire Hathaway Inc. New, British American Tobacco Indus, and 8 more

Reductions - Abbott Laboratories, American International Group, I, Bank of America Corporation, Brown Forman Inc, Berkshire Hathaway Inc., and 16 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
Q3 2017	ABBV AbbVie Inc.	AbbVie Inc.	Buy	+1,600	+9.9%	$1.58K	17,800
Q3 2017	ABT Abbott Laboratories	Abbott Laboratories	Sell	-100	-0.6%	$880.00	16,500
Q3 2017	AIG American International Group, I	American International Group, I	Sell	-265	-4.4%	$352.00	5,735
Q3 2017	AXP American Express Company	American Express Company	Buy	+539	+0.3%	$14.96K	165,351
Q3 2017	BAC Bank of America Corporation	Bank of America Corporation	Sell	-2,125	-4.3%	$1.19K	46,975
Q3 2017	BF-A Brown Forman Inc	Brown Forman Inc	Sell	-54,915	-1.2%	$247.33K	4,441,151
Q3 2017	BF-B Brown Forman Inc	Brown Forman Inc	Buy	+80,331	+5.5%	$83.02K	1,528,826
Q3 2017	BRK-A Berkshire Hathaway Inc.	Berkshire Hathaway Inc.	Sell	-19	-0.4%	$1.32M	4,815
Q3 2017	BRK-B Berkshire Hathaway Inc. New	Berkshire Hathaway Inc. New	Buy	+8,624	+0.3%	$461.66K	2,518,342
Q3 2017	BTI British American Tobacco Indus	British American Tobacco Indus	Buy	+450	+3.7%	$785.00	12,572
Q3 2017	CFRUY Compagnie Financiere Richemont	Compagnie Financiere Richemont	Buy	+6,500	+2.7%	$2.23K	244,140
Q3 2017	COTY Coty Inc.	Coty Inc.	Sell	-1,728	-3.9%	$702.00	42,474
Q3 2017	CVX Chevron Corporation	Chevron Corporation	Sell	-1,600	-6.2%	$2.85K	24,256
Q3 2017	DANOY Danone	Danone	Buy	+5,025	+0.6%	$12.48K	795,070
Q3 2017	DEO Diageo plc	Diageo plc	Sell	-10,405	-2.2%	$60.96K	461,365
Q3 2017	DOV Dover Corporation	Dover Corporation	Sell	-1,760	-3.2%	$4.91K	53,666
Q3 2017	FMX Fomento Economico Mexicano S.A.	Fomento Economico Mexicano S.A.	Sell	-85	-0.1%	$12.78K	133,775
Q3 2017	FULT Fulton Financial Corporation	Fulton Financial Corporation	Buy	+32,229	+38.0%	$2.19K	117,072
Q3 2017	HEINY Heineken N.V.	Heineken N.V.	Sell	-2,203	-5.0%	$2.08K	41,957
Q3 2017	HRL Hormel Foods Corporation	Hormel Foods Corporation	Buy	+3,424	+2.2%	$5.12K	159,273
Q3 2017	IBM International Business Machines	International Business Machines	Sell	-750	-8.4%	$1.19K	8,184
Q3 2017	KO Coca-Cola Company (The)	Coca-Cola Company (The)	Sell	-4,750	-2.8%	$7.42K	164,777
Q3 2017	LAMR Lamar Advertising Company	Lamar Advertising Company	Sell	-750	-5.7%	$856.00	12,490
Q3 2017	MKC McCormick & Company, Incorporat	McCormick & Company, Incorporat	Sell	-100	-0.3%	$3.45K	33,655
Q3 2017	MKL Markel Group Inc.	Markel Group Inc.	Sell	-204	-1.8%	$11.65K	10,908
Q3 2017	MLKN MillerKnoll, Inc.	MillerKnoll, Inc.	Sell	-100	-0.0%	$7.37K	205,416
Q3 2017	MLM Martin Marietta Materials, Inc.	Martin Marietta Materials, Inc.	Buy	+268,198	+15.2%	$419.50K	2,034,151
Q3 2017	NSRGY Nestle S.A.	Nestle S.A.	Sell	-1,276	-0.0%	$1.35M	16,090,733
Q3 2017	PEP Pepsico, Inc.	Pepsico, Inc.	Sell	-19	-0.1%	$3.92K	35,200
Q3 2017	PG Procter & Gamble Company (The)	Procter & Gamble Company (The)	Sell	-2,125	-3.3%	$5.67K	62,267

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