Thomas Russo - Gardner Russo & Quinn 13F Activity & Position Changes (Q4 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 Dec 31, 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 Q4 2017, the filing reported:

New Buys - Apple Inc., ACNB Corporation, Amazon.com, Inc., Boeing Company (The), Bank of America, and 46 more

Increases - Bank of America Corporation, Fomento Economico Mexicano S.A., Vulcan Materials Company (Holdi

Reductions - AbbVie Inc., Abbott Laboratories, American Express Company, Brown Forman Inc, Brown Forman Inc, and 32 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
Q4 2017	AAPL Apple Inc.	Apple Inc.	Buy - Position Entry	+1,450	-	$245.00	1,450
Q4 2017	ABBV AbbVie Inc.	AbbVie Inc.	Sell	-3,700	-20.8%	$1.36K	14,100
Q4 2017	ABT Abbott Laboratories	Abbott Laboratories	Sell	-3,700	-22.4%	$730.00	12,800
Q4 2017	ACNB ACNB Corporation	ACNB Corporation	Buy - Position Entry	+881	-	$26.00	881
Q4 2017	AMZN Amazon.com, Inc.	Amazon.com, Inc.	Buy - Position Entry	+75	-	$88.00	75
Q4 2017	AXP American Express Company	American Express Company	Sell	-550	-0.3%	$16.37K	164,801
Q4 2017	BA Boeing Company (The)	Boeing Company (The)	Buy - Position Entry	+350	-	$103.00	350
Q4 2017	BAC Bank of America Corporation	Bank of America Corporation	Buy	+1,000	+2.1%	$1.42K	47,975
Q4 2017	BAC.PRN Bank of America	Bank of America	Buy - Position Entry	+21	-	$28.00	21
Q4 2017	BEN Franklin Resources, Inc.	Franklin Resources, Inc.	Buy - Position Entry	+775	-	$34.00	775
Q4 2017	BF-A Brown Forman Inc	Brown Forman Inc	Sell	-115,776	-2.6%	$290.84K	4,325,375
Q4 2017	BF-B Brown Forman Inc	Brown Forman Inc	Sell	-48,359	-3.2%	$101.66K	1,480,467
Q4 2017	BK The Bank of New York Mellon Cor	The Bank of New York Mellon Cor	Buy - Position Entry	+1,500	-	$81.00	1,500
Q4 2017	BP BP p.l.c.	BP p.l.c.	Buy - Position Entry	+4,475	-	$188.00	4,475
Q4 2017	BRK-A Berkshire Hathaway Inc.	Berkshire Hathaway Inc.	Sell	-135	-2.8%	$1.39M	4,680
Q4 2017	BRK-B Berkshire Hathaway Inc. New	Berkshire Hathaway Inc. New	Sell	-18,347	-0.7%	$495.55K	2,499,995
Q4 2017	BTI British American Tobacco Indus	British American Tobacco Indus	Sell	-1,625	-12.9%	$733.00	10,947
Q4 2017	CAT Caterpillar, Inc.	Caterpillar, Inc.	Buy - Position Entry	+650	-	$102.00	650
Q4 2017	CC Chemours Company (The)	Chemours Company (The)	Sell	-391	-5.8%	$320.00	6,388
Q4 2017	CFRUY Compagnie Financiere Richemont	Compagnie Financiere Richemont	Sell	-48,475	-19.9%	$1.77K	195,665
Q4 2017	CL Colgate-Palmolive Company	Colgate-Palmolive Company	Buy - Position Entry	+2,100	-	$158.00	2,100
Q4 2017	CNI Canadian National Railway Compa	Canadian National Railway Compa	Buy - Position Entry	+200	-	$17.00	200
Q4 2017	COTY Coty Inc.	Coty Inc.	Sell	-931	-2.2%	$826.00	41,543
Q4 2017	CPB The Campbell's Company	The Campbell's Company	Buy - Position Entry	+1,300	-	$63.00	1,300
Q4 2017	CSL Carlisle Companies Incorporated	Carlisle Companies Incorporated	Buy - Position Entry	+900	-	$102.00	900
Q4 2017	CSX CSX Corporation	CSX Corporation	Buy - Position Entry	+1,400	-	$77.00	1,400
Q4 2017	CVX Chevron Corporation	Chevron Corporation	Sell	-7,037	-29.0%	$2.16K	17,219
Q4 2017	DANOY Danone	Danone	Sell	-73,660	-9.3%	$12.12K	721,410
Q4 2017	DE Deere & Company	Deere & Company	Buy - Position Entry	+65	-	$10.00	65
Q4 2017	DEO Diageo plc	Diageo plc	Sell	-32,640	-7.1%	$62.61K	428,725

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