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

As of Dec 31, 2018, 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 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 plc	Diageo plc	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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