Thomas Russo - Gardner Russo & Quinn 13F Activity & Position Changes (Q4 2013)

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 Dec 31, 2013. 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 Q4 2013, the filing reported:

New Buys - Graham Holdings Company, Phillips 66

Increases - Brown Forman Inc, Berkshire Hathaway Inc., Berkshire Hathaway Inc. New, British American Tobacco Indus, Diageo plc, and 5 more

Reductions - American Express Company, Brown Forman Inc, Compagnie Financiere Richemont , Carlisle Companies Incorporated, Chevron Corporation, and 17 more

Complete Exits - Hasbro, Inc.

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
Q4 2013	AXP American Express Company	American Express Company	Sell	-370	-0.3%	$11.49K	126,595
Q4 2013	BF-A Brown Forman Inc	Brown Forman Inc	Buy	+51,403	+1.8%	$211.64K	2,868,913
Q4 2013	BF-B Brown Forman Inc	Brown Forman Inc	Sell	-2,697	-0.6%	$32.11K	424,931
Q4 2013	BRK-A Berkshire Hathaway Inc.	Berkshire Hathaway Inc.	Buy	+125	+2.5%	$903.38K	5,078
Q4 2013	BRK-B Berkshire Hathaway Inc. New	Berkshire Hathaway Inc. New	Buy	+55,431	+2.5%	$274.79K	2,317,684
Q4 2013	BTI British American Tobacco Indus	British American Tobacco Indus	Buy	+6,950	+105.3%	$1.46K	13,550
Q4 2013	CFRUY Compagnie Financiere Richemont	Compagnie Financiere Richemont	Sell	-1,375	-0.9%	$1.55K	155,125
Q4 2013	CSL Carlisle Companies Incorporated	Carlisle Companies Incorporated	Sell	-84	-0.9%	$770.00	9,700
Q4 2013	CVX Chevron Corporation	Chevron Corporation	Sell	-710	-1.1%	$8.09K	64,761
Q4 2013	DANOY Danone	Danone	Sell	-4,575	-2.3%	$2.86K	198,475
Q4 2013	DEO Diageo plc	Diageo plc	Buy	+1,632	+0.4%	$54.78K	413,704
Q4 2013	DOV Dover Corporation	Dover Corporation	Sell	-2,445	-2.9%	$7.83K	81,075
Q4 2013	FMX Fomento Economico Mexicano S.A.	Fomento Economico Mexicano S.A.	Sell	-8,565	-7.2%	$10.73K	109,655
Q4 2013	GHC Graham Holdings Company	Graham Holdings Company	Buy - Position Entry	+75,845	-	$50.31K	75,845
Q4 2013	HAS Hasbro, Inc.	Hasbro, Inc.	Sell - Position Exit	-626,021	-100.0%	$0.00	-
Q4 2013	HEINY Heineken N.V.	Heineken N.V.	Sell	-100	-0.2%	$1.46K	43,246
Q4 2013	HRL Hormel Foods Corporation	Hormel Foods Corporation	Sell	-6,150	-5.0%	$5.28K	116,900
Q4 2013	KO Coca-Cola Company (The)	Coca-Cola Company (The)	Sell	-3,455	-1.7%	$8.40K	203,323
Q4 2013	MCD McDonald's Corporation	McDonald's Corporation	Sell	-131	-3.2%	$384.00	3,960
Q4 2013	MKC McCormick & Company, Incorporat	McCormick & Company, Incorporat	Sell	-1,880	-3.9%	$3.16K	45,900
Q4 2013	MKL Markel Group Inc.	Markel Group Inc.	Sell	-650	-3.3%	$11.10K	19,127
Q4 2013	MLKN MillerKnoll, Inc.	MillerKnoll, Inc.	Sell	-20,100	-5.3%	$10.61K	359,370
Q4 2013	MLM Martin Marietta Materials, Inc.	Martin Marietta Materials, Inc.	Buy	+145,502	+8.1%	$193.04K	1,931,562
Q4 2013	MRK Merck & Company, Inc.	Merck & Company, Inc.	Sell	-1,200	-20.9%	$227.00	4,536
Q4 2013	MSFT Microsoft Corporation	Microsoft Corporation	Sell	-814	-1.3%	$2.31K	61,744
Q4 2013	NSRGY Nestle S.A.	Nestle S.A.	Buy	+440,995	+3.1%	$1.07M	14,520,387
Q4 2013	NTRS Northern Trust Corporation	Northern Trust Corporation	Sell	-81	-1.8%	$268.00	4,334
Q4 2013	PEP Pepsico, Inc.	Pepsico, Inc.	Sell	-1,007	-1.7%	$4.83K	58,221
Q4 2013	PG Procter & Gamble Company (The)	Procter & Gamble Company (The)	Sell	-2,950	-2.3%	$10.09K	123,962
Q4 2013	PGR Progressive Corporation (The)	Progressive Corporation (The)	Sell	-70,208	-80.7%	$458.00	16,778

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