Thomas Russo - Gardner Russo & Quinn 13F Activity & Position Changes (Q4 2019)

As of Dec 31, 2019, 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 2019, the filing reported:

New Buys - Danaher Corporation, Truist Financial Corporation, U.S. Bancorp

Increases - Corteva, Inc., Dow Inc., Eaton Vance Senior Income Trust, Alphabet Inc., Heineken N.V., and 2 more

Reductions - Apple Inc., AbbVie Inc., American Express Company, Brown Forman Inc, Brown Forman Inc, and 42 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 2019	AAPL Apple Inc.	Apple Inc.	Sell	-100	-4.8%	$586.00	1,995
Q4 2019	ABBV AbbVie Inc.	AbbVie Inc.	Sell	-200	-1.5%	$1.13K	12,810
Q4 2019	AXP American Express Company	American Express Company	Sell	-5,687	-4.1%	$16.42K	131,870
Q4 2019	BF-A Brown Forman Inc	Brown Forman Inc	Sell	-142,537	-3.7%	$234.69K	3,738,915
Q4 2019	BF-B Brown Forman Inc	Brown Forman Inc	Sell	-81,640	-4.5%	$116.38K	1,721,550
Q4 2019	BRK-A Berkshire Hathaway Inc.	Berkshire Hathaway Inc.	Sell	-76	-1.9%	$1.31M	3,850
Q4 2019	BRK-B Berkshire Hathaway Inc. New	Berkshire Hathaway Inc. New	Sell	-55,786	-2.5%	$499.86K	2,206,875
Q4 2019	BUDFF AB InBev	AB InBev	Sell	-163,448	-2.1%	$618.21K	7,574,490
Q4 2019	CFRHF Compagnie Financiere Richemont	Compagnie Financiere Richemont	Sell	-253,848	-2.4%	$797.85K	10,157,731
Q4 2019	CFRUY Compagnie Financiere Richemont	Compagnie Financiere Richemont	Sell	-7,224	-4.3%	$1.26K	159,951
Q4 2019	CMCSA Comcast Corporation	Comcast Corporation	Sell	-126,684	-2.1%	$259.87K	5,778,809
Q4 2019	COST Costco Wholesale Corporation	Costco Wholesale Corporation	Sell	-5	-0.1%	$1.52K	5,165
Q4 2019	COTY Coty Inc.	Coty Inc.	Sell	-314	-2.2%	$160.00	14,186
Q4 2019	CTVA Corteva, Inc.	Corteva, Inc.	Buy	+58	+0.4%	$384.00	12,988
Q4 2019	CVX Chevron Corporation	Chevron Corporation	Sell	-400	-4.4%	$1.04K	8,648
Q4 2019	DANOY Danone	Danone	Sell	-162,895	-32.7%	$5.55K	334,718
Q4 2019	DD DuPont de Nemours, Inc.	DuPont de Nemours, Inc.	Sell	-14	-0.1%	$972.00	15,133
Q4 2019	DEO Diageo plc	Diageo plc	Sell	-3,565	-1.5%	$39.14K	232,405
Q4 2019	DGEAF Diageo	Diageo	Sell	-142,995	-2.6%	$230.13K	5,427,771
Q4 2019	DHR Danaher Corporation	Danaher Corporation	Buy - Position Entry	+1,333	-	$205.00	1,333
Q4 2019	DIS Walt Disney Company (The)	Walt Disney Company (The)	Sell	-20	-0.5%	$622.00	4,303
Q4 2019	DOV Dover Corporation	Dover Corporation	Sell	-200	-0.5%	$4.85K	42,065
Q4 2019	DOW Dow Inc.	Dow Inc.	Buy	+184	+1.2%	$831.00	15,188
Q4 2019	EVF Eaton Vance Senior Income Trust	Eaton Vance Senior Income Trust	Buy	+3,075	+1.0%	$1.93K	300,315
Q4 2019	FMX Fomento Economico Mexicano S.A.	Fomento Economico Mexicano S.A.	Sell	-23,917	-18.3%	$10.08K	106,688
Q4 2019	FULT Fulton Financial Corporation	Fulton Financial Corporation	Sell	-250	-0.2%	$2.04K	117,274
Q4 2019	GOOG Alphabet Inc.	Alphabet Inc.	Buy	+57,451	+22.5%	$418.26K	312,829
Q4 2019	GOOGL Alphabet Inc.	Alphabet Inc.	Sell	-26	-1.4%	$2.44K	1,818
Q4 2019	HEINY Heineken N.V.	Heineken N.V.	Buy	+380	+1.3%	$1.53K	28,637
Q4 2019	HINKF Heineken	Heineken	Sell	-5,150	-11.3%	$4.33K	40,588

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