GARDNER RUSSO & GARDNER Information

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

Report Date: 03/31/2014

Position Statistics

Total Positions 113
New Positions 3
Increased Positions 46
Decreased Positions 37
Positions with Activity 83
Sold Out Positions 3
Total Mkt Value (in $ millions) 10,786

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

Sector Weighting

Basic Materials 0.27%
Capital Goods 2.49%
Conglomerates
Consumer Cyclical 6.97%
Consumer/Non-Cyclical 58.51%
Energy 0.33%
Financial 26.72%
Healthcare 0.08%
Services 4.51%
Technology 0.06%
Transportation 0.01%
Utilities 0%

113 Positions as of 03/31/2014

Company Class Value of Shares ($1,000s) ▼ Change in Value ($1,000s) Change (%) Shares Held
NESTLE S A SPONSORED ADR 1,128,319 4,369 .39 14,576,827
BERKSHIRE HATHAWAY INC DEL CL A 981,975 5,958 .61 5,109
PHILIP MORRIS INTL INC COM 867,053 18,712 2.21 10,191,037
MASTERCARD INC CL A 763,993 -6,214 (0.81) 9,827,537
WELLS FARGO & CO NEW COM 753,991 7,922 1.06 14,689,097
CIE FINANCIERE RICHEMONT AG ZU SHS NEW 707,112 11,496 1.65 7,027,196
HEINEKEN HOLDINGS SHS 685,620 14,804 2.21 10,406,630
SABMILLER PLC SHS 664,090 26,665 4.18 11,499,390
PERNOD RICARD ACT ORD 567,949 21,304 3.90 4,917,307
ANHEUSER BUSCH INBEV SA/NV SPONSORED ADR 566,477 8,501 1.52 5,019,738
UNILEVER N V N Y SHS NEW 548,957 36,698 7.16 12,654,600
BERKSHIRE HATHAWAY INC DEL CL B NEW 308,233 11,268 3.80 2,405,629
ALTRIA GROUP INC COM 298,254 3,079 1.04 7,148,952
BRITISH AMERICAN TOBACCO PLC ORD 289,245 5,082 1.79 4,831,214
MARTIN MARIETTA MATLS INC COM 262,266 8,034 3.16 1,992,602
BROWN FORMAN CORP CL A 260,530 692 .27 2,876,559
COMCAST CORP NEW CL A SPL 259,898 895 .35 4,769,644
DIAGEO PLC ORD 258,829 5,846 2.31 8,279,868
SCRIPPS NETWORKS INTERACT INC CL A COM 114,768 -1,645 (1.41) 1,381,079
JC DECAUX S A ACT 54,690 232 .43 1,468,195