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

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, 2019. 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	Diageo	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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