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

As of Dec 31, 2013, 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 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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