13F filing recap · Q4 2013

What did Gardner Russo & Quinn buy in Q4 2013?

Reported stock-position changes between this filing and the previous one.

Stock value

$10.11B

Positions

110

Estimated turnover

4.8%

Turnover is a proxy: verified trade-origin share changes valued at period-end and divided by average reported stock value. SEC holdings reports do not disclose execution dates or prices. Corporate actions and unreconciled activity are excluded.

New positions

GHCGraham Holdings Co$50.31Mreported value+75.8K shares PSXPhillips 66$210.0Kreported value+2.7K shares

Increased positions

NSRGYNestle SA$1.07Breported value+441.0K shares+3.1%BRK.ABerkshire Hathaway Inc$903.38Mreported value+125 shares+2.5%PMPhilip Morris International Inc.$868.78Mreported value+354.4K shares+3.7%CFRCompagnie Financière Richemont SA$692.54Mreported value+112.7K shares

Reduced positions

MAMastercard Inc$827.73Mreported value-11.2K shares-1.1%MOAltria Group, Inc.$271.62Mreported value-633.2K shares-8.2%BATSBritish American Tobacco Plc$254.54Mreported value-217.6K shares-4.4%JCDXFJc Decaux SA Act$60.37Mreported value-22.2K shares

Exited positions

GHCGraham Holdings Co$49.44Mprior reported value-80.9K shares-100.0%HASHasbro, Inc.$29.51Mprior reported value-626.0K shares-100.0%LUKLeucadia National Corporation$493.0Kprior reported value-18.1K shares-100.0%BERNERBBerner Industrier Ab$239.0Kprior reported value-3.5K shares