GARDNER RUSSO & GARDNER Information

223 EAST CHESTNUT STREET, LANCASTER, Pennsylvania, 17602, (717) 299-1385

Report Date: 12/31/2013

Position Statistics

Total Positions 113
New Positions 1
Increased Positions 30
Decreased Positions 50
Positions with Activity 80
Sold Out Positions 3
Total Mkt Value (in $ millions) 10,308

Institutional Holdings information is filed by major institutions on form 13-F with the Securities and Exchange Commission.

Sector Weighting

Basic Materials 0.29%
Capital Goods 2.42%
Conglomerates
Consumer Cyclical 7.1%
Consumer/Non-Cyclical 58.25%
Energy 0.37%
Financial 26.95%
Healthcare 0.08%
Services 4.41%
Technology 0.07%
Transportation 0.01%
Utilities 0%

113 Positions as of 12/31/2013

Company Class Value of Shares ($1,000s) ▼ Change in Value ($1,000s) Change (%) Shares Held
NESTLE S A SPONSORED ADR 1,107,906 33,648 3.13 14,520,387
BERKSHIRE HATHAWAY INC DEL CL A 968,065 23,830 2.52 5,078
PHILIP MORRIS INTL INC COM 829,098 29,466 3.69 9,971,107
MASTERCARD INC CL A 734,441 -8,294 (1.12) 9,907,470
WELLS FARGO & CO NEW COM 711,186 30,632 4.50 14,534,770
CIE FINANCIERE RICHEMONT AG ZU SHS NEW 682,654 11,126 1.66 6,912,947
HEINEKEN HOLDINGS SHS 670,480 13,780 2.10 10,181,924
SABMILLER PLC SHS 573,185 20,103 3.64 11,037,653
PERNOD RICARD ACT ORD 562,737 36,402 6.92 4,732,860
ANHEUSER BUSCH INBEV SA/NV SPONSORED ADR 539,929 12,075 2.29 4,944,404
UNILEVER N V N Y SHS NEW 499,269 48,498 10.76 11,808,636
BERKSHIRE HATHAWAY INC DEL CL B NEW 294,763 7,050 2.45 2,317,684
BRITISH AMERICAN TOBACCO PLC ORD 277,295 -12,714 (4.38) 4,746,338
ALTRIA GROUP INC COM 272,040 -24,346 (8.21) 7,075,151
BROWN FORMAN CORP CL A 251,919 4,514 1.82 2,868,913
DIAGEO PLC ORD 250,879 5,806 2.37 8,092,869
MARTIN MARIETTA MATLS INC COM 242,508 18,268 8.15 1,931,562
COMCAST CORP NEW CL A SPL 230,721 295 .13 4,753,215
SCRIPPS NETWORKS INTERACT INC CL A COM 104,211 553 .53 1,400,871
JC DECAUX S A ACT 61,695 -937 (1.5) 1,461,955