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
HASBRO INC COM -34,187 Sold Out 0
ALTRIA GROUP INC COM 272,040 -24,346 (8.21) 7,075,151
BRITISH AMERICAN TOBACCO PLC ORD 277,295 -12,714 (4.38) 4,746,338
MASTERCARD INC CL A 734,441 -8,294 (1.12) 9,907,470
GRAHAM HLDGS CO COM 51,195 -3,391 (6.21) 75,845
PROGRESSIVE CORP OHIO COM 402 -1,682 (80.71) 16,778
JC DECAUX S A ACT 61,695 -937 (1.5) 1,461,955
FOMENTO ECONOMICO MEXICANO SAB SPON ADR UNITS 10,395 -812 (7.25) 109,655
MILLER HERMAN INC COM 10,954 -613 (5.3) 359,370
SWEDISH MATCH CORP ORD 11,309 -609 (5.11) 346,062
CRANE CO COM 12,255 -472 (3.71) 172,552
LEUCADIA NATL CORP COM -472 Sold Out 0
ROYAL DUTCH SHELL PLC SPONS ADR A 5,671 -458 (7.47) 74,915
MARKEL CORP COM 11,840 -402 (3.29) 19,127
STE BIC ACT 2,694 -321 (10.64) 20,285
HORMEL FOODS CORP COM 5,585 -294 (5) 116,900
PARGESA HOLDING SA GENEVE SHS 2,128 -289 (11.95) 23,950
PROCTER & GAMBLE CO COM 10,135 -241 (2.32) 123,962
BROWN FORMAN CORP CL B 37,785 -240 (0.63) 424,931
DOVER CORP COM 6,929 -209 (2.93) 81,075