Gardner Russo & Gardner filed its 13F statement as of December 31, 2013 with the Securities and Exchange Commission. The employee owned investment manager’s regulatory filings reveal its investments have a market value of approximately $10,106,122,000. Its top 10 holdings represent a sizeable 72.20% of its portfolio. The investment manager added 2 new stocks to its portfolio, increased stakes in 29 stocks, exited 4 stocks and reduced holdings in 44 stocks.

Thomas Russo Gardner Russo

Gardener’s major new positions

The Thomas Russo-managed Gardner Russo & Gardner acquired 75,845 shares of Graham Holdings Co (NYSE:GHC) for $50.31 million, constituting 0.5% of its portfolio. Another new addition was the energy manufacturing and logistics company, Phillips 66 (NYSE:PSX), of which the investment manager purchased 2,720 shares valued at $0.21 million.

Top positions

Nestle SA Reg Shs. Ser. B Spons (OTCMKTS:NSRGY) was the biggest position of Gardner Russo as of December 31, 2013. The investment manger owns 14,520,387 shares that are currently valued at $1.06 billion representing a substantial 10.54% of its overall portfolio.

The second largest holding was Berkshire Hathaway Inc. (NYSE:BRK.A) (NYSE:BRK.B) of which the investment manager owns 5,078 shares that are currently valued at $903.3 million representing 8.93% of its total portfolio. The investment manager’s third largest holding was  Philip Morris International Inc. (NYSE:PM) in which it owns 9,971,107 shares valuing $868.78 million, constituting 8.59% of its overall portfolio.

Mastercard Inc (NYSE:MA) was the fourth largest holding of Gardner Russo. The investment manager owns 990,747 shares that are currently valued at $827.72 million, representing 8.19% of its overall portfolio. Gardner’s fifth largest holding was Compagnie Financiere Richemont SA (VTX:CFR) wherein it owns 6,912,947 shares that are currently valued at $692.54 million representing 6.85% of its total portfolio. The investment manager added 112,671 shares of Compagnie during the quarter.

Gardner Sold out positions

Gardner sold out its entire holding in The Washington Post Company. The investment manager had 80,868 shares of The Washington Post Company that represented 0.52% of its total portfolio. The second largest closed position was Hasbro, Inc. (NASDAQ:HAS) of which the investment manager sold entire 626,021 shares it owned. Leucadia National Corp. (NYSE:LUK) was the third big position closed during the quarter. The investment manager sold all the 18,100 shares it owned in Leucadia.