Thomas Russo - Gardner Russo & Quinn 13F Activity & Position Changes (Q4 2018)

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, 2018. 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 2018, the filing reported:

New Buys - Merck & Company, Inc., M&T Bank Corporation

Increases - Eaton Vance Senior Income Trust, Alphabet Inc., JP Morgan Chase & Co., The Kraft Heinz Company, LT Group

Reductions - Apple Inc., American Express Company, Bank of America Corporation, Brown Forman Inc, Brown Forman Inc, and 35 more

Complete Exits - BP p.l.c., Chemours Company (The), ConocoPhillips, International Business Machines, Oracle Corporation, and 1 more

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 2018	AAPL Apple Inc.	Apple Inc.	Sell	-500	-19.3%	$330.00	2,095
Q4 2018	AXP American Express Company	American Express Company	Sell	-13,697	-7.7%	$15.61K	163,749
Q4 2018	BAC Bank of America Corporation	Bank of America Corporation	Sell	-1,000	-2.0%	$1.21K	48,975
Q4 2018	BF-A Brown Forman Inc	Brown Forman Inc	Sell	-78,402	-1.8%	$199.97K	4,216,925
Q4 2018	BF-B Brown Forman Inc	Brown Forman Inc	Sell	-92,962	-3.7%	$115.12K	2,419,447
Q4 2018	BP BP p.l.c.	BP p.l.c.	Sell - Position Exit	-5,200	-100.0%	$0.00	-
Q4 2018	BRK-A Berkshire Hathaway Inc.	Berkshire Hathaway Inc.	Sell	-138	-3.0%	$1.35M	4,417
Q4 2018	BRK-B Berkshire Hathaway Inc. New	Berkshire Hathaway Inc. New	Sell	-66,488	-2.6%	$507.44K	2,485,257
Q4 2018	BUDFF AB InBev	AB InBev	Sell	-261,557	-3.2%	$514.47K	7,799,725
Q4 2018	CC Chemours Company (The)	Chemours Company (The)	Sell - Position Exit	-6,466	-100.0%	$0.00	-
Q4 2018	CFRHF Compagnie Financiere Richemont	Compagnie Financiere Richemont	Sell	-167,468	-1.4%	$733.44K	11,476,544
Q4 2018	CFRUY Compagnie Financiere Richemont	Compagnie Financiere Richemont	Sell	-133,125	-57.6%	$626.00	97,895
Q4 2018	CMCSA Comcast Corporation	Comcast Corporation	Sell	-222,252	-3.2%	$230.85K	6,779,811
Q4 2018	COP ConocoPhillips	ConocoPhillips	Sell - Position Exit	-2,638	-100.0%	$0.00	-
Q4 2018	COTY Coty Inc.	Coty Inc.	Sell	-650	-1.9%	$225.00	34,358
Q4 2018	DANOY Danone	Danone	Sell	-97,521	-11.8%	$10.29K	731,449
Q4 2018	DEO Diageo	Diageo	Sell	-26,421	-6.8%	$51.62K	364,056
Q4 2018	DGEAF Diageo	Diageo	Sell	-325,176	-4.1%	$269.76K	7,578,148
Q4 2018	DOV Dover Corporation	Dover Corporation	Sell	-5,600	-11.1%	$3.17K	44,691
Q4 2018	EVF Eaton Vance Senior Income Trust	Eaton Vance Senior Income Trust	Buy	+2,423	+0.8%	$1.78K	296,926
Q4 2018	FMX Fomento Economico Mexicano S.A.	Fomento Economico Mexicano S.A.	Sell	-9,407	-5.8%	$13.16K	152,995
Q4 2018	GOOG Alphabet Inc.	Alphabet Inc.	Buy	+35,219	+61.4%	$95.87K	92,570
Q4 2018	GOOGL Alphabet Inc.	Alphabet Inc.	Sell	-58	-3.1%	$1.90K	1,813
Q4 2018	HEINY Heineken N.V.	Heineken N.V.	Sell	-14,665	-35.6%	$1.17K	26,512
Q4 2018	HKHHF Heineken Holding	Heineken Holding	Sell	-272,694	-2.6%	$869.59K	10,314,562
Q4 2018	HRL Hormel Foods Corporation	Hormel Foods Corporation	Sell	-4,650	-2.9%	$6.63K	155,373
Q4 2018	IBM International Business Machines	International Business Machines	Sell - Position Exit	-1,571	-100.0%	$0.00	-
Q4 2018	JPM JP Morgan Chase & Co.	JP Morgan Chase & Co.	Buy	+480	+4.2%	$1.17K	12,000
Q4 2018	KHC The Kraft Heinz Company	The Kraft Heinz Company	Buy	+405	+1.7%	$1.03K	23,940
Q4 2018	KO Coca-Cola Company (The)	Coca-Cola Company (The)	Sell	-2,385	-2.0%	$5.54K	116,923

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