Gardner Russo & Quinn

Thomas Russo

$9.3B Portfolio Value

87 Stocks

-1.41% YTD Return ⓘ

Feb 12, 2026 Last Updated

Portfolio Value Over Time

Period:

Stock Click to search	Shares	Value	% of Portfolio	Change	Est. Return ⓘ
GOOG\|Alphabet Inc Cl C	3.9M	$1.2B	13.32%	TRIM -15.5%	+204.39%
BRK-A\|Berkshire Hathaway Inc Cl A	1.5K	$1.1B	12.12%	TRIM -3.4%	—
MA\|Mastercard Inc Cl A	1.6M	$905.4M	9.77%	TRIM -2.1%	+210.11%
Compagnie Financiere Richemont	3.5M	$760.5M	8.21%	TRIM -2.8%	—
4I1\|Philip Morris International In	4.7M	$753.5M	8.13%	ADD +0.8%	—
HKHHY\|Heineken Holding NV	9.2M	$674.2M	7.28%	TRIM -0.9%	-25.65%
BRK-B\|Berkshire Hathaway Inc Cl B	1.1M	$565.7M	6.11%	TRIM -3.1%	—
NSRGY\|Nestle SA Sponsored ADR	5.6M	$554.9M	5.99%	TRIM -2.8%	—
NFLX\|Netflix Inc	5.0M	$469.2M	5.07%	ADD +872.9%	+264.95%
MLM\|Martin Marietta Materials	726.6K	$452.4M	4.88%	ADD +5.7%	—
UBER\|Uber Technologies Inc	5.1M	$420.4M	4.54%	ADD +9.2%	+33.91%
ASHGY\|Ashtead Group PLC	6.1M	$418.1M	4.51%	ADD +9.6%	+32.61%
Pernod Ricard	2.6M	$219.3M	2.37%	TRIM -5.4%	—
DASH\|Doordash Inc Cl A	930.5K	$210.7M	2.27%	ADD +0.4%	+49.72%
JPM\|J.P. Morgan Chase	528.8K	$170.4M	1.84%	TRIM -3.0%	+128.03%
CMCSA\|Comcast Corp New Cl A	2.3M	$68.8M	0.74%	TRIM -6.0%	-14.73%
BF-A\|Brown-Forman Corp Cl A	1.7M	$43.9M	0.47%	TRIM -2.9%	—
V\|Visa Inc Cl A	108.8K	$38.2M	0.41%	TRIM -11.0%	+162.01%
XOM\|Exxon Mobil Corp	193.0K	$23.2M	0.25%	ADD +0.7%	+107.36%
BF-A\|Brown-Forman Corp Cl B	708.2K	$18.5M	0.20%	TRIM -7.5%	—
BUD\|Anheuser-Busch InBev SA	265.5K	$17.1M	0.18%	TRIM -5.9%	-25.74%
MKL\|Markel Corp	6.3K	$13.5M	0.15%	TRIM -17.9%	—
CR\|Crane Company	54.4K	$10.0M	0.11%	TRIM -3.7%	+169.34%
MO\|Altria Group Inc	164.8K	$9.5M	0.10%	TRIM -0.6%	+2.50%
UNP\|Union Pac Corp	25.0K	$5.8M	0.06%	ADD +0.6%	—
GOOGL\|Alphabet Inc Cl A	14.9K	$4.7M	0.05%	TRIM -3.7%	+188.33%
AXP\|American Express	12.2K	$4.5M	0.05%	TRIM -10.8%	—
COST\|Costco Whsl Corp	4.6K	$4.0M	0.04%	—	+300.78%
DOV\|Dover Corp	19.5K	$3.8M	0.04%	TRIM -0.1%	—
Carlsberg B A/S	23.1K	$3.0M	0.03%	ADD +91.5%	—
ABBV\|AbbVie Inc	12.4K	$2.8M	0.03%	—	—
DEO\|Diageo PLC	129.8K	$2.8M	0.03%	ADD NEW	-33.48%
MKC\|McCormick Inc	40.7K	$2.8M	0.03%	TRIM -2.2%	—
VMC\|Vulcan Materials	7.9K	$2.3M	0.02%	TRIM -20.1%	—
Lindt & Spruengli AG - Reg	15	$2.2M	0.02%	—	—
Konecranes	18.4K	$2.0M	0.02%	—	—
SSP Group	660.0K	$1.8M	0.02%	—	—
MSFT\|Microsoft Corp	3.7K	$1.8M	0.02%	ADD +5.7%	—
PG\|Procter & Gamble	12.0K	$1.7M	0.02%	ADD +9.4%	—
Fluidra	59.0K	$1.6M	0.02%	ADD +11.3%	—
Loreal SA	3.7K	$1.6M	0.02%	TRIM -8.5%	—
Davide Campari-Milano NV	242.1K	$1.6M	0.02%	ADD +15.1%	—
De'Longhi	35.2K	$1.5M	0.02%	—	—
ABT\|Abbott Labs	11.5K	$1.4M	0.02%	—	—
WRBY\|Warby Parker Inc Cl A	65.0K	$1.4M	0.01%	ADD +6.6%	+16.08%
Electrolux Professional	200.0K	$1.4M	0.01%	—	—
PEP\|Pepsico Inc	9.8K	$1.4M	0.01%	TRIM -10.6%	—
H\|Hyatt Hotels Corp Cl A	8.7K	$1.4M	0.01%	—	+15.54%
Demant A/S	41.0K	$1.4M	0.01%	—	—
Fielmann	25.7K	$1.3M	0.01%	ADD +2.8%	—
H&M	64.0K	$1.3M	0.01%	—	—
AAPL\|Apple Inc	4.7K	$1.3M	0.01%	TRIM -0.5%	—
ALK Abello A/S	35.0K	$1.3M	0.01%	ADD NEW	—
Heineken NV	15.1K	$1.2M	0.01%	—	—
Puig Brands	68.0K	$1.2M	0.01%	—	—
Kalmar Oyj B	24.0K	$1.1M	0.01%	ADD +20.0%	—
WMT\|Wal Mart Stores Inc	10.2K	$1.1M	0.01%	—	—
Nestle SA-REG	11.1K	$1.1M	0.01%	TRIM -0.4%	—
JBT\|JBT Marel Corp	7.2K	$1.1M	0.01%	—	—
Lotus Bakeries	115	$1.1M	0.01%	—	—
YETI\|Yeti Holdings Inc	24.0K	$1.1M	0.01%	—	+33.21%
FULT\|Fulton Finl Corp	54.1K	$1.0M	0.01%	TRIM -16.2%	—
LEVI\|Levi Strauss & Co Cl A	47.7K	$989.8K	0.01%	—	+23.51%
HRI\|Herc Holdings Inc	6.5K	$957.1K	0.01%	—	-12.70%
KO\|Coca-Cola	13.6K	$953.6K	0.01%	—	—
SWZ\|Swiss Helvetia FD Inc	146.3K	$909.9K	0.01%	TRIM -66.3%	-16.95%
Zalando SE	28.0K	$833.3K	0.01%	—	—
PNC\|PNC Bank Corp	3.8K	$782.7K	0.01%	—	—
Rational AG	975	$757.5K	0.01%	—	—
LAMR\|Lamar Advertising Co-A	6.0K	$756.2K	0.01%	—	—
WFC\|Wells Fargo	8.0K	$742.3K	0.01%	TRIM -21.5%	—
ORCL\|Oracle Corp	3.5K	$677.3K	0.01%	—	+256.13%
FBLA\|FB Bancorp Inc	50.0K	$642.5K	0.01%	—	+5.98%
HRL\|Hormel Foods Corp	19.8K	$470.1K	0.01%	—	—
LT Group Inc	1.8M	$445.9K	0.01%	—	—
CHV\|Chevron Corp	2.7K	$406.9K	0.00%	—	—
OUT\|Outfront Media Inc	15.7K	$377.8K	0.00%	TRIM -0.1%	+29.22%
CAT\|Caterpillar Inc	550	$315.1K	0.00%	TRIM -21.4%	+53.08%
GNRC\|Generac Holdings Inc	2.2K	$306.8K	0.00%	—	+13.52%
UNM\|Unum Group	3.8K	$294.5K	0.00%	—	+59.73%
DIS\|Disney Walt Productions	2.5K	$285.5K	0.00%	—	—
MCD\|McDonalds Corp	905	$276.6K	0.00%	ADD +28.4%	—
AMZN\|Amazon.com Inc	1.0K	$240.1K	0.00%	ADD NEW	-12.20%
IBM\|I B M	750	$222.2K	0.00%	ADD NEW	+126.10%
Hanjaya Mandala Sampoerna	5.0M	$217.4K	0.00%	—	—
Cofide SPA	251.2K	$207.4K	0.00%	—	—
JNJ\|Johnson & Johnson	976	$202.0K	0.00%	ADD NEW	+25.35%

13F Filing:

Stock Click to search	Action	Change	Shares After	Value	Est. Return ⓘ
2025-Q4
GOOG\|Alphabet Inc Cl C	SELL	-15.46%	3.9M	$1.2B	+162.8%
BRK-A\|Berkshire Hathaway Inc Cl A	SELL	-3.44%	1.5K	$1.1B	—
MA\|Mastercard Inc Cl A	SELL	-2.12%	1.6M	$905M	+225.5%
Compagnie Financiere Richemont	SELL	-2.83%	3.5M	$761M	—
4I1\|Philip Morris International In	BUY	+0.76%	4.7M	$753M	—
HKHHY\|Heineken Holding NV	SELL	-0.92%	9.2M	$674M	-27.0%
NFLX\|Netflix Inc	BUY	+872.89%	5.0M	$469M	—
BRK-B\|Berkshire Hathaway Inc Cl B	SELL	-3.10%	1.1M	$566M	—
NSRGY\|Nestle SA Sponsored ADR	SELL	-2.79%	5.6M	$555M	—
UBER\|Uber Technologies Inc	BUY	+9.22%	5.1M	$420M	—
MLM\|Martin Marietta Materials	BUY	+5.68%	726.6K	$452M	—
ASHGY\|Ashtead Group PLC	BUY	+9.59%	6.1M	$418M	—
Pernod Ricard	SELL	-5.43%	2.6M	$219M	—
DASH\|Doordash Inc Cl A	BUY	+0.44%	930.5K	$211M	—
JPM\|J.P. Morgan Chase	SELL	-2.97%	528.8K	$170M	+132.2%
CMCSA\|Comcast Corp New Cl A	SELL	-5.95%	2.3M	$69M	-30.1%
BF-A\|Brown-Forman Corp Cl A	SELL	-2.91%	1.7M	$44M	—
V\|Visa Inc Cl A	SELL	-11.00%	108.8K	$38M	+175.5%
XOM\|Exxon Mobil Corp	BUY	+0.67%	193.0K	$23M	—
BF-A\|Brown-Forman Corp Cl B	SELL	-7.52%	708.2K	$18M	—
BUD\|Anheuser-Busch InBev SA	SELL	-5.91%	265.5K	$17M	-43.1%
MKL\|Markel Corp	SELL	-17.95%	6.3K	$13M	—
MO\|Altria Group Inc	SELL	-0.56%	164.8K	$10M	-10.2%
CR\|Crane Company	SELL	-3.67%	54.4K	$10M	+143.4%
UNP\|Union Pac Corp	BUY	+0.57%	25.0K	$6M	—
GOOGL\|Alphabet Inc Cl A	SELL	-3.68%	14.9K	$5M	+161.6%
AXP\|American Express	SELL	-10.80%	12.2K	$4M	—
DOV\|Dover Corp	SELL	-0.13%	19.5K	$4M	—
VMC\|Vulcan Materials	SELL	-20.06%	7.9K	$2M	—
Carlsberg B A/S	BUY	+91.55%	23.1K	$3M	—
DEO\|Diageo PLC	BUY	NEW	129.8K	$3M	—
MKC\|McCormick Inc	SELL	-2.22%	40.7K	$3M	—
SWZ\|Swiss Helvetia FD Inc	SELL	-66.31%	146.3K	$909884	-20.5%
MSFT\|Microsoft Corp	BUY	+5.71%	3.7K	$2M	—
Loreal SA	SELL	-8.52%	3.7K	$2M	—
PG\|Procter & Gamble	BUY	+9.44%	12.0K	$2M	—
WRBY\|Warby Parker Inc Cl A	BUY	+6.56%	65.0K	$1M	—
Fluidra	BUY	+11.32%	59.0K	$2M	—
Davide Campari-Milano NV	BUY	+15.09%	242.1K	$2M	—
PEP\|Pepsico Inc	SELL	-10.64%	9.8K	$1M	—
Fielmann	BUY	+2.80%	25.7K	$1M	—
AAPL\|Apple Inc	SELL	-0.53%	4.7K	$1M	—
ALK Abello A/S	BUY	NEW	35.0K	$1M	—
FULT\|Fulton Finl Corp	SELL	-16.25%	54.1K	$1M	—
Kalmar Oyj B	BUY	+20.00%	24.0K	$1M	—
Nestle SA-REG	SELL	-0.36%	11.1K	$1M	—
Deliveroo PLC	SELL	EXIT	—	—	—
WFC\|Wells Fargo	SELL	-21.53%	8.0K	$742287	—
TFC\|Truist Financial Corp	SELL	EXIT	—	—	-14.5%
OUT\|Outfront Media Inc	SELL	-0.08%	15.7K	$377816	+14.0%
CAT\|Caterpillar Inc	SELL	-21.43%	550	$315079	+33.8%
FMX\|Fomento Economico Mex Sponsore	SELL	EXIT	—	—	—
MCD\|McDonalds Corp	BUY	+28.37%	905	$276595	—
AMZN\|Amazon.com Inc	BUY	NEW	1.0K	$240053	—
IBM\|I B M	BUY	NEW	750	$222158	—
JNJ\|Johnson & Johnson	BUY	NEW	976	$201983	—
2025-Q3
BRK-A\|Berkshire Hathaway Inc Cl A	SELL	-5.11%	1.5K	$1.2B	—
GOOG\|Alphabet Inc Cl C	SELL	-8.65%	4.6M	$1.1B	+86.3%
MA\|Mastercard Inc Cl A	SELL	-3.73%	1.6M	$922M	+231.7%
4I1\|Philip Morris International In	SELL	-4.33%	4.7M	$756M	—
NFLX\|Netflix Inc	SELL	-5.15%	514.4K	$617M	+432.1%
Compagnie Financiere Richemont	SELL	-3.33%	3.6M	$687M	—
HKHHY\|Heineken Holding NV	BUY	+10.14%	9.3M	$637M	—
NSRGY\|Nestle SA Sponsored ADR	SELL	-3.93%	5.8M	$530M	—
BRK-B\|Berkshire Hathaway Inc Cl B	BUY	+0.59%	1.2M	$584M	—
UBER\|Uber Technologies Inc	SELL	-3.80%	4.7M	$462M	+51.9%
MLM\|Martin Marietta Materials	SELL	-3.54%	687.5K	$433M	—
ASHGY\|Ashtead Group PLC	SELL	-4.02%	5.6M	$373M	+28.0%
Pernod Ricard	SELL	-4.38%	2.7M	$265M	—
DASH\|Doordash Inc Cl A	SELL	-4.18%	926.4K	$252M	+79.1%
JPM\|J.P. Morgan Chase	SELL	-5.00%	545.0K	$172M	+121.5%
CMCSA\|Comcast Corp New Cl A	SELL	-4.39%	2.4M	$77M	-16.8%
BF-A\|Brown-Forman Corp Cl A	SELL	-5.97%	1.7M	$46M	—
V\|Visa Inc Cl A	SELL	-3.69%	122.3K	$42M	+177.2%
XOM\|Exxon Mobil Corp	BUY	+0.76%	191.7K	$22M	—
BF-A\|Brown-Forman Corp Cl B	SELL	-1.64%	765.8K	$21M	—
BUD\|Anheuser-Busch InBev SA	SELL	-4.75%	282.2K	$17M	-43.4%
MKL\|Markel Corp	SELL	-6.02%	7.7K	$15M	—
CR\|Crane Company	SELL	-4.85%	56.5K	$10M	+146.2%
MO\|Altria Group Inc	SELL	-13.45%	165.7K	$11M	-0.8%
UNP\|Union Pac Corp	BUY	+0.52%	24.8K	$6M	—
COST\|Costco Whsl Corp	SELL	-0.19%	4.6K	$4M	+283.9%
AXP\|American Express	SELL	-0.01%	13.6K	$5M	—
DOV\|Dover Corp	SELL	-9.28%	19.6K	$3M	—
GOOGL\|Alphabet Inc Cl A	SELL	-1.54%	15.5K	$4M	+85.0%
MKC\|McCormick Inc	SELL	-0.92%	41.6K	$3M	—
VMC\|Vulcan Materials	SELL	-2.61%	9.9K	$3M	—
MSFT\|Microsoft Corp	SELL	-17.33%	3.5K	$2M	—
Konecranes	SELL	-21.99%	18.4K	$2M	—
WFC\|Wells Fargo	SELL	-55.58%	10.1K	$850662	—
Carlsberg B A/S	BUY	+0.74%	12.1K	$1M	—
WRBY\|Warby Parker Inc Cl A	BUY	+5.17%	61.0K	$2M	—
Davide Campari-Milano NV	SELL	-10.26%	210.4K	$1M	—
Fielmann	BUY	+8.70%	25.0K	$2M	—
SSP Group	BUY	+20.44%	660.0K	$2M	—
Electrolux Professional	BUY	+13.96%	200.0K	$1M	—
FULT\|Fulton Finl Corp	SELL	-5.28%	64.6K	$1M	—
AAPL\|Apple Inc	SELL	-8.74%	4.7K	$1M	—
RL\|Ralph Lauren Corp Cl A	SELL	EXIT	—	—	+20.3%
Nestle SA-REG	SELL	-1.02%	11.2K	$1M	—
HRI\|Herc Holdings Inc	SELL	-23.67%	6.5K	$752457	-29.0%
HRL\|Hormel Foods Corp	SELL	-44.25%	19.8K	$490718	—
Zalando SE	BUY	+7.69%	28.0K	$855729	—
GNRC\|Generac Holdings Inc	SELL	-60.18%	2.2K	$376650	+27.9%
Kalmar Oyj B	BUY	NEW	20.0K	$792420	—
PNC\|PNC Bank Corp	SELL	-5.06%	3.8K	$753488	—
FBLA\|FB Bancorp Inc	SELL	-9.09%	50.0K	$601000	-3.0%
TFC\|Truist Financial Corp	BUY	+0.81%	9.4K	$427727	—
DIS\|Disney Walt Productions	SELL	-10.93%	2.5K	$287360	—
FMX\|Fomento Economico Mex Sponsore	SELL	-4.45%	3.2K	$317391	—
CAT\|Caterpillar Inc	BUY	NEW	700	$334005	—
DEO\|Diageo PLC	SELL	EXIT	—	—	-23.6%
2025-Q2
BRK-A\|Berkshire Hathaway Inc Cl A	SELL	-1.99%	1.6K	$1.2B	—
MA\|Mastercard Inc Cl A	SELL	-1.94%	1.7M	$946M	+225.6%
GOOG\|Alphabet Inc Cl C	SELL	-0.32%	5.1M	$903M	+52.5%
4I1\|Philip Morris International In	SELL	-2.86%	4.9M	$888M	—
NFLX\|Netflix Inc	SELL	-2.88%	542.3K	$726M	+405.2%
Compagnie Financiere Richemont	SELL	-1.59%	3.7M	$700M	—
BRK-B\|Berkshire Hathaway Inc Cl B	SELL	-2.21%	1.2M	$561M	—
HKHHY\|Heineken Holding NV	BUY	+3.57%	8.4M	$626M	—
NSRGY\|Nestle SA Sponsored ADR	SELL	-2.10%	6.0M	$597M	—
UBER\|Uber Technologies Inc	BUY	+10.49%	4.9M	$457M	—
MLM\|Martin Marietta Materials	SELL	-0.21%	712.8K	$391M	—
ASHGY\|Ashtead Group PLC	BUY	+5.37%	5.8M	$372M	—
Pernod Ricard	SELL	-2.01%	2.8M	$280M	—
JPM\|J.P. Morgan Chase	SELL	-45.01%	573.7K	$166M	+95.8%
DASH\|Doordash Inc Cl A	BUY	+21.81%	966.8K	$238M	—
CMCSA\|Comcast Corp New Cl A	SELL	-2.25%	2.6M	$91M	-14.4%
BF-A\|Brown-Forman Corp Cl A	SELL	-2.34%	1.8M	$50M	—
V\|Visa Inc Cl A	SELL	-2.87%	126.9K	$45M	+179.8%
BF-A\|Brown-Forman Corp Cl B	SELL	-5.15%	778.5K	$21M	—
XOM\|Exxon Mobil Corp	BUY	+0.44%	190.3K	$21M	—
BUD\|Anheuser-Busch InBev SA	SELL	-12.51%	296.3K	$20M	-38.1%
MKL\|Markel Corp	SELL	-1.61%	8.1K	$16M	—
MO\|Altria Group Inc	SELL	-22.38%	191.4K	$11M	-9.8%
CR\|Crane Company	SELL	-1.58%	59.4K	$11M	+122.2%
UNP\|Union Pac Corp	BUY	+0.52%	24.7K	$6M	—
COST\|Costco Whsl Corp	SELL	-0.09%	4.6K	$5M	+300.3%
WFC\|Wells Fargo	SELL	-63.68%	22.8K	$2M	—
VMC\|Vulcan Materials	SELL	-45.77%	10.2K	$3M	—
AXP\|American Express	SELL	-0.18%	13.6K	$4M	—
DOV\|Dover Corp	SELL	-1.82%	21.6K	$4M	—
MKC\|McCormick Inc	SELL	-1.52%	42.0K	$3M	—
GOOGL\|Alphabet Inc Cl A	BUY	+0.76%	15.7K	$3M	—
SWZ\|Swiss Helvetia FD Inc	BUY	+48.00%	434.2K	$3M	—
Lindt & Spruengli AG - Reg	SELL	-6.25%	15	$2M	—
MSFT\|Microsoft Corp	SELL	-8.23%	4.2K	$2M	—
PG\|Procter & Gamble	SELL	-0.73%	10.9K	$2M	—
Loreal SA	SELL	-0.88%	4.0K	$2M	—
Demant A/S	BUY	+1.86%	41.0K	$2M	—
Carlsberg B A/S	BUY	+16.11%	12.0K	$2M	—
PEP\|Pepsico Inc	SELL	-0.17%	11.0K	$1M	—
Davide Campari-Milano NV	SELL	-0.32%	234.4K	$2M	—
Fielmann	BUY	+3.14%	23.0K	$2M	—
H\|Hyatt Hotels Corp Cl A	SELL	-25.70%	8.7K	$1M	-13.2%
HRL\|Hormel Foods Corp	SELL	-22.79%	35.6K	$1M	—
Fluidra	BUY	+4.95%	53.0K	$1M	—
WRBY\|Warby Parker Inc Cl A	BUY	+12.29%	58.0K	$1M	—
HRI\|Herc Holdings Inc	SELL	-10.58%	8.4K	$1M	-34.3%
FULT\|Fulton Finl Corp	SELL	-2.15%	68.2K	$1M	—
AAPL\|Apple Inc	SELL	-1.91%	5.1K	$1M	—
H&M	SELL	-27.27%	64.0K	$892470	—
Lotus Bakeries	SELL	-11.54%	115	$1M	—
YETI\|Yeti Holdings Inc	SELL	-26.15%	24.0K	$756480	-19.0%
LEVI\|Levi Strauss & Co Cl A	SELL	-29.53%	47.7K	$882435	-3.0%
GNRC\|Generac Holdings Inc	SELL	-31.52%	5.7K	$809137	-12.9%
WMT\|Wal Mart Stores Inc	SELL	-0.73%	10.2K	$993934	—
Deliveroo PLC	BUY	NEW	390.0K	$940074	—
PNC\|PNC Bank Corp	SELL	-20.20%	4.0K	$736359	—
Zalando SE	BUY	NEW	26.0K	$853037	—
FBLA\|FB Bancorp Inc	SELL	-21.43%	55.0K	$618750	-8.4%
CHV\|Chevron Corp	SELL	-36.68%	2.7K	$382317	—
TFC\|Truist Financial Corp	SELL	-4.25%	9.3K	$398967	-25.8%
DIS\|Disney Walt Productions	SELL	-4.25%	2.8K	$349478	—
FMX\|Fomento Economico Mex Sponsore	SELL	-0.88%	3.4K	$346837	—
OUT\|Outfront Media Inc	SELL	-11.39%	15.7K	$256061	-16.7%
MRK\|Merck Inc	SELL	EXIT	—	—	+6.2%
HKHHY\|Heineken Holding NV ADR	SELL	EXIT	—	—	-9.2%
BP\|BP PLC ADR	SELL	EXIT	—	—	-9.0%
2025-Q1
BRK-A\|Berkshire Hathaway Inc Cl A	SELL	-11.34%	1.7K	$1.3B	—
GOOG\|Alphabet Inc Cl C	SELL	-9.39%	5.1M	$798M	+71.9%
MA\|Mastercard Inc Cl A	SELL	-8.93%	1.7M	$941M	+218.6%
4I1\|Philip Morris International In	SELL	-3.34%	5.0M	$796M	—
Compagnie Financiere Richemont	SELL	-10.25%	3.8M	$655M	—
BRK-B\|Berkshire Hathaway Inc Cl B	SELL	-8.26%	1.2M	$629M	—
NSRGY\|Nestle SA Sponsored ADR	SELL	-2.90%	6.1M	$622M	—
HKHHY\|Heineken Holding NV	BUY	+3.56%	8.1M	$588M	—
NFLX\|Netflix Inc	SELL	-11.75%	558.4K	$521M	+324.6%
MLM\|Martin Marietta Materials	BUY	+1.02%	714.3K	$342M	—
Pernod Ricard	SELL	-5.14%	2.9M	$284M	—
UBER\|Uber Technologies Inc	BUY	+6.77%	4.4M	$323M	—
JPM\|J.P. Morgan Chase	SELL	-17.31%	1.0M	$256M	+93.3%
ASHGY\|Ashtead Group PLC	BUY	+16.89%	5.5M	$295M	—
DASH\|Doordash Inc Cl A	BUY	+18.43%	793.7K	$145M	—
CMCSA\|Comcast Corp New Cl A	SELL	-6.01%	2.6M	$97M	-10.1%
BF-A\|Brown-Forman Corp Cl A	SELL	-7.15%	1.9M	$63M	—
V\|Visa Inc Cl A	SELL	-36.15%	130.7K	$46M	+175.1%
BF-A\|Brown-Forman Corp Cl B	SELL	-2.33%	820.8K	$28M	—
XOM\|Exxon Mobil Corp	BUY	+0.27%	189.5K	$23M	—
BUD\|Anheuser-Busch InBev SA	SELL	-10.43%	338.6K	$21M	-51.2%
MKL\|Markel Corp	SELL	-4.00%	8.3K	$15M	—
MO\|Altria Group Inc	SELL	-8.59%	246.6K	$15M	-18.0%
WFC\|Wells Fargo	SELL	-67.50%	62.9K	$5M	—
CR\|Crane Company	SELL	-0.70%	60.3K	$9M	+104.1%
UNP\|Union Pac Corp	BUY	+0.21%	24.6K	$6M	—
VMC\|Vulcan Materials	SELL	-11.52%	18.7K	$4M	—
COST\|Costco Whsl Corp	SELL	-14.08%	4.6K	$4M	+280.6%
AXP\|American Express	SELL	-7.82%	13.7K	$4M	—
DOV\|Dover Corp	SELL	-2.23%	22.0K	$4M	—
PG\|Procter & Gamble	SELL	-53.69%	11.0K	$2M	—
GOOGL\|Alphabet Inc Cl A	SELL	-23.72%	15.6K	$2M	+70.5%
Davide Campari-Milano NV	SELL	-59.42%	235.2K	$1M	—
MKC\|McCormick Inc	SELL	-0.34%	42.6K	$4M	—
SWZ\|Swiss Helvetia FD Inc	BUY	+1.59%	293.4K	$3M	—
MSFT\|Microsoft Corp	SELL	-6.76%	4.6K	$2M	—
Loreal SA	SELL	-28.45%	4.1K	$2M	—
PEP\|Pepsico Inc	SELL	-4.76%	11.0K	$2M	—
Carlsberg B A/S	SELL	-43.17%	10.3K	$1M	—
HRL\|Hormel Foods Corp	SELL	-8.47%	46.1K	$1M	—
Konecranes	BUY	NEW	23.6K	$2M	—
AAPL\|Apple Inc	SELL	-9.56%	5.2K	$1M	—
FULT\|Fulton Finl Corp	SELL	-6.69%	69.7K	$1M	—
H\|Hyatt Hotels Corp Cl A	BUY	NEW	11.7K	$1M	—
Demant A/S	BUY	NEW	40.2K	$1M	—
HRI\|Herc Holdings Inc	BUY	NEW	9.4K	$1M	—
Fluidra	BUY	NEW	50.5K	$1M	—
De'Longhi	BUY	NEW	35.2K	$1M	—
Puig Brands	BUY	NEW	68.0K	$1M	—
H&M	BUY	NEW	88.0K	$1M	—
Lotus Bakeries	BUY	NEW	130	$1M	—
Nestle SA-REG	BUY	+7.89%	11.3K	$1M	—
Electrolux Professional	BUY	NEW	175.5K	$1M	—
YETI\|Yeti Holdings Inc	BUY	NEW	32.5K	$1M	—
SSP Group	BUY	NEW	548.0K	$1M	—
LEVI\|Levi Strauss & Co Cl A	BUY	NEW	67.7K	$1M	—
GNRC\|Generac Holdings Inc	BUY	NEW	8.2K	$1M	—
Fielmann	BUY	NEW	22.3K	$1M	—
KO\|Coca-Cola	SELL	-3.30%	13.6K	$976897	—
WRBY\|Warby Parker Inc Cl A	BUY	NEW	51.6K	$941580	—
WMT\|Wal Mart Stores Inc	SELL	-0.63%	10.2K	$898970	—
RL\|Ralph Lauren Corp Cl A	BUY	NEW	4.1K	$905034	—
JBT\|JBT Marel Corp	BUY	NEW	7.2K	$885950	—
Rational AG	BUY	NEW	975	$805694	—
OUT\|Outfront Media Inc	SELL	-60.49%	17.7K	$285775	-4.1%
CHV\|Chevron Corp	SELL	-5.55%	4.2K	$705390	—
TFC\|Truist Financial Corp	BUY	+0.78%	9.7K	$398826	—
DIS\|Disney Walt Productions	SELL	-17.59%	2.9K	$290488	—
FMX\|Fomento Economico Mex Sponsore	SELL	-1.96%	3.4K	$331577	—
MRK\|Merck Inc	SELL	-5.57%	2.8K	$248013	+26.3%
MDLZ\|Mondelez International Inc	SELL	EXIT	—	—	-3.3%
DEO\|Diageo PLC	SELL	-2.12%	8.1K	$210019	-19.4%
HKHHY\|Heineken Holding NV ADR	SELL	-13.85%	6.3K	$226192	-16.3%
BP\|BP PLC ADR	BUY	NEW	6.3K	$212881	—
CFRUY\|Compagnie Financiere Richemont	SELL	EXIT	—	—	—
2024-Q4
BRK-A\|Berkshire Hathaway Inc Cl A	SELL	-8.61%	1.9K	$1.3B	—
GOOG\|Alphabet Inc Cl C	SELL	-5.97%	5.6M	$1.1B	+59.1%
MA\|Mastercard Inc Cl A	SELL	-6.30%	1.9M	$992M	+202.9%
Compagnie Financiere Richemont	SELL	-6.38%	4.2M	$642M	—
NSRGY\|Nestle SA Sponsored ADR	SELL	-9.04%	6.3M	$517M	—
4I1\|Philip Morris International In	SELL	-3.64%	5.2M	$625M	—
BRK-B\|Berkshire Hathaway Inc Cl B	SELL	-4.17%	1.3M	$583M	—
HKHHY\|Heineken Holding NV	SELL	-3.70%	7.9M	$471M	-34.3%
NFLX\|Netflix Inc	SELL	-13.54%	632.8K	$564M	+259.9%
Pernod Ricard	SELL	-6.52%	3.0M	$343M	—
MLM\|Martin Marietta Materials	SELL	-5.74%	707.0K	$365M	—
ASHGY\|Ashtead Group PLC	SELL	-4.61%	4.7M	$293M	+45.0%
JPM\|J.P. Morgan Chase	SELL	-12.42%	1.3M	$302M	+79.0%
UBER\|Uber Technologies Inc	BUY	+9.31%	4.2M	$250M	—
CMCSA\|Comcast Corp New Cl A	SELL	-6.26%	2.8M	$104M	+4.0%
DASH\|Doordash Inc Cl A	SELL	-4.98%	670.1K	$112M	+47.7%
BF-A\|Brown-Forman Corp Cl A	SELL	-5.26%	2.0M	$76M	—
V\|Visa Inc Cl A	SELL	-22.89%	204.7K	$65M	+147.4%
BF-A\|Brown-Forman Corp Cl B	SELL	-4.27%	840.4K	$32M	—
BUD\|Anheuser-Busch InBev SA	SELL	-5.16%	378.1K	$19M	-48.2%
WFC\|Wells Fargo	SELL	-51.89%	193.6K	$14M	—
XOM\|Exxon Mobil Corp	BUY	+0.38%	189.0K	$20M	—
MKL\|Markel Corp	SELL	-4.38%	8.6K	$15M	—
MO\|Altria Group Inc	SELL	-6.67%	269.8K	$14M	-17.6%
CR\|Crane Company	SELL	-2.61%	60.7K	$9M	+110.2%
UNP\|Union Pac Corp	BUY	+0.48%	24.5K	$6M	—
Davide Campari-Milano NV	SELL	-17.61%	579.5K	$4M	—
VMC\|Vulcan Materials	SELL	-9.82%	21.2K	$5M	—
PG\|Procter & Gamble	SELL	-24.05%	23.8K	$4M	—
COST\|Costco Whsl Corp	SELL	-0.46%	5.4K	$5M	+271.0%
DOV\|Dover Corp	SELL	-2.81%	22.5K	$4M	—
AXP\|American Express	SELL	-3.42%	14.8K	$4M	—
Nestle SA-REG	SELL	-73.90%	10.5K	$864270	—
GOOGL\|Alphabet Inc Cl A	BUY	+0.15%	20.5K	$4M	—
MKC\|McCormick Inc	SELL	-0.12%	42.8K	$3M	—
Carlsberg B A/S	SELL	-22.65%	18.1K	$2M	—
Loreal SA	SELL	-1.01%	5.7K	$2M	—
SWZ\|Swiss Helvetia FD Inc	BUY	+1.92%	288.8K	$2M	—
ABBV\|AbbVie Inc	SELL	-0.80%	12.4K	$2M	—
Heineken NV	SELL	-40.53%	15.1K	$1M	—
Lindt & Spruengli AG - Reg	SELL	-5.88%	16	$2M	—
MSFT\|Microsoft Corp	SELL	-1.00%	5.0K	$2M	—
PEP\|Pepsico Inc	SELL	-5.83%	11.5K	$2M	—
HRL\|Hormel Foods Corp	SELL	-5.17%	50.3K	$2M	—
FULT\|Fulton Finl Corp	SELL	-8.04%	74.7K	$1M	—
AAPL\|Apple Inc	SELL	-7.49%	5.8K	$1M	—
CFRUY\|Compagnie Financiere Richemont	SELL	-81.70%	12.1K	$184730	—
KO\|Coca-Cola	SELL	-2.92%	14.1K	$878177	—
PNC\|PNC Bank Corp	SELL	-7.48%	5.0K	$954608	—
WMT\|Wal Mart Stores Inc	SELL	-0.58%	10.3K	$931057	—
FBLA\|FB Bancorp Inc	BUY	NEW	70.0K	$834400	—
OUT\|Outfront Media Inc	SELL	EXIT	—	—	-14.0%
HKHHY\|Heineken Holding NV ADR	SELL	-65.82%	7.3K	$217629	-23.2%
OUT\|Outfront Media Inc	BUY	NEW	44.8K	$794992	—
PRNDY\|Pernod-Ricard SA Unsponsored A	SELL	EXIT	—	—	-44.2%
CHV\|Chevron Corp	BUY	+0.36%	4.5K	$646654	—
TFC\|Truist Financial Corp	BUY	+0.74%	9.6K	$417200	—
DIS\|Disney Walt Productions	SELL	-8.08%	3.6K	$397646	—
ASHGY\|Ashtead Group PLC ADR	SELL	EXIT	—	—	+53.8%
FMX\|Fomento Economico Mex Sponsore	SELL	-4.81%	3.5K	$296308	—
CTVA\|Corteva Inc	SELL	EXIT	—	—	+113.6%
MRK\|Merck Inc	SELL	-5.22%	2.9K	$291104	+36.8%
DEO\|Diageo PLC	SELL	-2.37%	8.3K	$262246	-7.7%
Reckitt Benckiser Group PLC	SELL	EXIT	—	—	—
HEINY\|Heineken NV Sponsored ADR	SELL	EXIT	—	—	—
DHR\|Danaher Corp	SELL	EXIT	—	—	-10.2%
CSL\|Carlisle Inc	SELL	EXIT	—	—	+9.4%
TT\|Trane Technologies PLC	SELL	EXIT	—	—	+15.4%
BP\|BP PLC ADR	SELL	EXIT	—	—	-13.1%
Cir SPA	SELL	EXIT	—	—	—
Cofide SPA	BUY	NEW	251.2K	$155841	—
DVCMY\|Davide Campari-Milano ADR	SELL	EXIT	—	—	—
2024-Q3
BRK-A\|Berkshire Hathaway Inc Cl A	SELL	-3.26%	2.0K	$1.4B	—
GOOG\|Alphabet Inc Cl C	SELL	-3.48%	6.0M	$1.0B	+52.3%
MA\|Mastercard Inc Cl A	SELL	-2.19%	2.0M	$993M	+169.9%
NSRGY\|Nestle SA Sponsored ADR	SELL	-4.19%	7.0M	$700M	—
Compagnie Financiere Richemont	SELL	-3.44%	4.5M	$715M	—
4I1\|Philip Morris International In	SELL	-1.46%	5.4M	$654M	—
HKHHY\|Heineken Holding NV	BUY	+2.26%	8.2M	$618M	—
BRK-B\|Berkshire Hathaway Inc Cl B	SELL	-3.41%	1.3M	$618M	—
NFLX\|Netflix Inc	SELL	-6.42%	731.8K	$519M	+195.1%
Pernod Ricard	SELL	-1.66%	3.3M	$492M	—
MLM\|Martin Marietta Materials	SELL	-1.83%	750.1K	$404M	—
ASHGY\|Ashtead Group PLC	SELL	-2.22%	4.9M	$384M	+31.5%
JPM\|J.P. Morgan Chase	SELL	-3.49%	1.4M	$304M	+57.9%
UBER\|Uber Technologies Inc	BUY	+4.19%	3.8M	$285M	—
CMCSA\|Comcast Corp New Cl A	SELL	-3.10%	3.0M	$124M	-2.0%
BF-A\|Brown-Forman Corp Cl A	SELL	-2.02%	2.1M	$102M	—
DASH\|Doordash Inc Cl A	SELL	-1.55%	705.3K	$101M	+8.6%
V\|Visa Inc Cl A	SELL	-6.10%	265.5K	$73M	+115.2%
BF-A\|Brown-Forman Corp Cl B	SELL	-1.56%	877.9K	$43M	—
WFC\|Wells Fargo	SELL	-15.95%	402.3K	$23M	—
BUD\|Anheuser-Busch InBev SA	SELL	-9.74%	398.6K	$26M	-43.9%
XOM\|Exxon Mobil Corp	BUY	+4.27%	188.2K	$22M	—
MKL\|Markel Corp	SELL	-6.27%	9.0K	$14M	—
MO\|Altria Group Inc	BUY	+0.98%	289.1K	$15M	—
CR\|Crane Company	SELL	-3.93%	62.4K	$10M	+96.5%
VMC\|Vulcan Materials	SELL	-30.16%	23.5K	$6M	—
Davide Campari-Milano NV	BUY	+3.88%	703.4K	$6M	—
UNP\|Union Pac Corp	BUY	+0.52%	24.4K	$6M	—
PG\|Procter & Gamble	SELL	-2.28%	31.3K	$5M	—
COST\|Costco Whsl Corp	SELL	-1.00%	5.4K	$5M	+252.0%
DOV\|Dover Corp	SELL	-1.39%	23.1K	$4M	—
AXP\|American Express	SELL	-4.57%	15.3K	$4M	—
Nestle SA-REG	SELL	-0.14%	40.1K	$4M	—
GOOGL\|Alphabet Inc Cl A	BUY	+0.39%	20.4K	$3M	—
MKC\|McCormick Inc	SELL	-1.15%	42.8K	$4M	—
Carlsberg B A/S	SELL	-3.85%	23.4K	$3M	—
Loreal SA	SELL	-1.23%	5.8K	$3M	—
SWZ\|Swiss Helvetia FD Inc	BUY	+1.43%	283.4K	$3M	—
MSFT\|Microsoft Corp	SELL	-3.84%	5.0K	$2M	—
Lindt & Spruengli AG - Reg	SELL	-10.53%	17	$2M	—
PEP\|Pepsico Inc	SELL	-1.00%	12.2K	$2M	—
FULT\|Fulton Finl Corp	SELL	-28.94%	81.2K	$1M	—
HRL\|Hormel Foods Corp	SELL	-7.97%	53.1K	$2M	—
AAPL\|Apple Inc	SELL	-7.72%	6.3K	$1M	—
DD\|Dupont De Nemours Inc	SELL	EXIT	—	—	+15.5%
PNC\|PNC Bank Corp	SELL	-23.82%	5.3K	$988948	—
CFRUY\|Compagnie Financiere Richemont	BUY	+0.30%	66.3K	$1M	—
KO\|Coca-Cola	SELL	-0.34%	14.5K	$1M	—
DOW\|Dow Inc	SELL	EXIT	—	—	+4.5%
OUT\|Outfront Media Inc	SELL	-14.99%	45.0K	$827229	-25.6%
HKHHY\|Heineken Holding NV ADR	BUY	+4.67%	21.3K	$804162	—
LAMR\|Lamar Advertising Co-A	SELL	-0.02%	6.0K	$798126	—
CHV\|Chevron Corp	SELL	-4.34%	4.4K	$655190	—
FMX\|Fomento Economico Mex Sponsore	SELL	-26.81%	3.6K	$359403	—
TFC\|Truist Financial Corp	SELL	-16.77%	9.5K	$408300	-20.7%
MRK\|Merck Inc	SELL	-10.42%	3.1K	$350548	+56.6%
DIS\|Disney Walt Productions	SELL	-4.92%	3.9K	$373711	—
CTVA\|Corteva Inc	BUY	+0.30%	6.1K	$356857	—
MCD\|McDonalds Corp	SELL	-41.10%	705	$214680	—
Reckitt Benckiser Group PLC	SELL	-8.64%	4.2K	$259695	—
BP\|BP PLC ADR	BUY	+0.92%	6.6K	$207243	—
DHR\|Danaher Corp	BUY	NEW	819	$227698	—
UNM\|Unum Group	SELL	-6.17%	3.8K	$225872	+11.6%
TT\|Trane Technologies PLC	BUY	NEW	540	$209914	—
2024-Q2
BRK-A\|Berkshire Hathaway Inc Cl A	SELL	-0.84%	2.1K	$1.3B	—
GOOG\|Alphabet Inc Cl C	SELL	-12.05%	6.2M	$1.1B	+59.7%
MA\|Mastercard Inc Cl A	SELL	-2.09%	2.1M	$907M	+164.7%
NSRGY\|Nestle SA Sponsored ADR	BUY	+0.12%	7.3M	$744M	—
Compagnie Financiere Richemont	BUY	+0.71%	4.7M	$729M	—
HKHHY\|Heineken Holding NV	BUY	+2.01%	8.0M	$630M	—
BRK-B\|Berkshire Hathaway Inc Cl B	SELL	-5.07%	1.4M	$566M	—
4I1\|Philip Morris International In	SELL	-1.53%	5.5M	$554M	—
NFLX\|Netflix Inc	SELL	-10.53%	782.1K	$528M	+174.5%
Pernod Ricard	BUY	+9.32%	3.3M	$449M	—
MLM\|Martin Marietta Materials	SELL	-2.97%	764.1K	$414M	—
ASHGY\|Ashtead Group PLC	SELL	-1.34%	5.1M	$338M	+37.3%
JPM\|J.P. Morgan Chase	SELL	-12.72%	1.5M	$302M	+48.0%
UBER\|Uber Technologies Inc	BUY	+10.44%	3.6M	$265M	—
CMCSA\|Comcast Corp New Cl A	SELL	-0.95%	3.1M	$120M	-3.2%
BF-A\|Brown-Forman Corp Cl A	SELL	-1.27%	2.2M	$96M	—
V\|Visa Inc Cl A	SELL	-4.37%	282.7K	$74M	+120.2%
DASH\|Doordash Inc Cl A	BUY	NEW	716.4K	$78M	—
BF-A\|Brown-Forman Corp Cl B	SELL	-1.45%	891.8K	$39M	—
WFC\|Wells Fargo	SELL	-29.09%	478.6K	$28M	—
BUD\|Anheuser-Busch InBev SA	SELL	-6.51%	441.6K	$26M	-44.5%
XOM\|Exxon Mobil Corp	BUY	+0.22%	180.5K	$21M	—
MKL\|Markel Corp	SELL	-1.84%	9.6K	$15M	—
MO\|Altria Group Inc	SELL	-8.84%	286.3K	$13M	-31.5%
VMC\|Vulcan Materials	SELL	-12.99%	33.6K	$8M	—
CR\|Crane Company	SELL	-3.10%	64.9K	$9M	+86.6%
Davide Campari-Milano NV	BUY	+5.53%	677.1K	$6M	—
UNP\|Union Pac Corp	BUY	+3.94%	24.3K	$5M	—
PG\|Procter & Gamble	SELL	-0.99%	32.0K	$5M	—
CABO\|Cable One Inc	SELL	EXIT	—	—	-79.8%
DOV\|Dover Corp	SELL	-5.15%	23.4K	$4M	—
AXP\|American Express	SELL	-11.16%	16.1K	$4M	—
GOOGL\|Alphabet Inc Cl A	SELL	-7.18%	20.4K	$4M	+58.6%
Carlsberg B A/S	SELL	-0.57%	24.4K	$3M	—
MKC\|McCormick Inc	SELL	-0.29%	43.3K	$3M	—
Loreal SA	SELL	-13.29%	5.8K	$3M	—
MSFT\|Microsoft Corp	SELL	-2.93%	5.2K	$2M	—
SWZ\|Swiss Helvetia FD Inc	BUY	+1.61%	279.4K	$2M	—
PEP\|Pepsico Inc	SELL	-0.62%	12.4K	$2M	—
HRL\|Hormel Foods Corp	SELL	-5.13%	57.7K	$2M	—
FULT\|Fulton Finl Corp	SELL	-1.72%	114.3K	$2M	—
AAPL\|Apple Inc	SELL	-14.74%	6.8K	$1M	—
ABT\|Abbott Labs	SELL	-0.86%	11.5K	$1M	—
DD\|Dupont De Nemours Inc	BUY	+0.47%	15.6K	$1M	—
PNC\|PNC Bank Corp	SELL	-3.70%	7.0K	$1M	—
OUT\|Outfront Media Inc	SELL	-16.46%	52.9K	$757099	-30.6%
DOW\|Dow Inc	BUY	+1.25%	18.1K	$960061	—
CFRUY\|Compagnie Financiere Richemont	BUY	+0.44%	66.1K	$1M	—
KO\|Coca-Cola	SELL	-6.42%	14.6K	$928017	—
FMX\|Fomento Economico Mex Sponsore	SELL	-21.34%	5.0K	$535559	—
HKHHY\|Heineken Holding NV ADR	BUY	+13.76%	20.3K	$801423	—
LAMR\|Lamar Advertising Co-A	SELL	-9.13%	6.0K	$714192	—
UL\|Unilever PLC ADR	SELL	EXIT	—	—	-10.5%
CHV\|Chevron Corp	BUY	+0.32%	4.7K	$727560	—
PRNDY\|Pernod-Ricard SA Unsponsored A	BUY	+11.20%	23.1K	$626187	—
MCD\|McDonalds Corp	SELL	-38.04%	1.2K	$305043	—
LVMH Moet Hennessy Louis Vuitt	SELL	EXIT	—	—	—
MRK\|Merck Inc	SELL	-1.91%	3.4K	$426592	+73.8%
TFC\|Truist Financial Corp	BUY	+0.78%	11.5K	$445620	—
CTVA\|Corteva Inc	BUY	+0.31%	6.1K	$326444	—
HEINY\|Heineken NV Sponsored ADR	BUY	+3.85%	5.3K	$254288	—
BP\|BP PLC ADR	BUY	+0.77%	6.5K	$236165	—
CSL\|Carlisle Inc	BUY	NEW	500	$202605	—
LVMUY\|LVMH Moet Hennessy Louis Vuitt	SELL	EXIT	—	—	-4.8%
BURCA\|Burnham Hldgs Inc Cl A	SELL	EXIT	—	—	+3.0%
DANOY\|Danone ADR	SELL	EXIT	—	—	—
2024-Q1
BRK-A\|Berkshire Hathaway Inc Cl A	SELL	-11.79%	2.1K	$1.4B	—
GOOG\|Alphabet Inc Cl C	SELL	-8.55%	7.1M	$1.1B	+32.6%
MA\|Mastercard Inc Cl A	SELL	-8.77%	2.1M	$1.0B	+168.2%
NSRGY\|Nestle SA Sponsored ADR	SELL	-5.42%	7.3M	$770M	—
Compagnie Financiere Richemont	SELL	-7.03%	4.6M	$708M	—
HKHHY\|Heineken Holding NV	SELL	-0.25%	7.8M	$632M	-18.8%
BRK-B\|Berkshire Hathaway Inc Cl B	SELL	-6.72%	1.5M	$616M	—
4I1\|Philip Morris International In	SELL	-8.67%	5.6M	$509M	—
NFLX\|Netflix Inc	SELL	-22.30%	874.1K	$531M	+151.2%
Pernod Ricard	BUY	+7.51%	3.0M	$490M	—
MLM\|Martin Marietta Materials	SELL	-16.28%	787.5K	$483M	—
ASHGY\|Ashtead Group PLC	SELL	-2.81%	5.1M	$365M	+26.5%
JPM\|J.P. Morgan Chase	SELL	-15.46%	1.7M	$343M	+32.4%
UBER\|Uber Technologies Inc	BUY	+7.10%	3.3M	$254M	—
CMCSA\|Comcast Corp New Cl A	SELL	-6.12%	3.1M	$134M	+6.3%
BF-A\|Brown-Forman Corp Cl A	SELL	-3.11%	2.2M	$116M	—
V\|Visa Inc Cl A	SELL	-8.44%	295.6K	$83M	+122.4%
BF-A\|Brown-Forman Corp Cl B	SELL	-3.47%	904.9K	$47M	—
WFC\|Wells Fargo	SELL	-5.23%	675.0K	$39M	—
BUD\|Anheuser-Busch InBev SA	SELL	-7.68%	472.4K	$29M	-42.3%
XOM\|Exxon Mobil Corp	BUY	+0.52%	180.1K	$21M	—
MKL\|Markel Corp	SELL	-1.85%	9.8K	$15M	—
MO\|Altria Group Inc	BUY	+0.96%	314.1K	$14M	—
VMC\|Vulcan Materials	SELL	-20.62%	38.6K	$11M	—
CR\|Crane Company	SELL	-1.90%	67.0K	$9M	+60.7%
CABO\|Cable One Inc	SELL	-27.07%	11.7K	$5M	-74.3%
Davide Campari-Milano NV	SELL	-16.82%	641.6K	$6M	—
UNP\|Union Pac Corp	BUY	+2.13%	23.4K	$6M	—
PG\|Procter & Gamble	SELL	-11.85%	32.3K	$5M	—
Nestle SA-REG	BUY	+0.67%	40.1K	$4M	—
DOV\|Dover Corp	SELL	-11.47%	24.7K	$4M	—
AXP\|American Express	SELL	-11.88%	18.1K	$4M	—
COST\|Costco Whsl Corp	SELL	-1.32%	5.5K	$4M	+190.3%
Loreal SA	SELL	-1.46%	6.7K	$3M	—
Carlsberg B A/S	BUY	+0.02%	24.5K	$3M	—
MKC\|McCormick Inc	SELL	-1.53%	43.4K	$3M	—
GOOGL\|Alphabet Inc Cl A	SELL	-2.66%	21.9K	$3M	+31.6%
HRL\|Hormel Foods Corp	SELL	-19.53%	60.8K	$2M	—
UL\|Unilever PLC ADR	SELL	-69.59%	15.2K	$761248	-18.4%
MSFT\|Microsoft Corp	BUY	+2.76%	5.4K	$2M	—
SWZ\|Swiss Helvetia FD Inc	BUY	+1.64%	274.9K	$2M	—
PEP\|Pepsico Inc	SELL	-4.64%	12.4K	$2M	—
FULT\|Fulton Finl Corp	SELL	-0.43%	116.3K	$2M	—
AAPL\|Apple Inc	SELL	-14.02%	8.0K	$1M	—
DD\|Dupont De Nemours Inc	SELL	-14.93%	15.5K	$1M	+2.4%
OUT\|Outfront Media Inc	SELL	-26.25%	63.4K	$1M	-34.1%
PNC\|PNC Bank Corp	SELL	-4.89%	7.3K	$1M	—
DOW\|Dow Inc	SELL	-14.67%	17.9K	$1M	+9.2%
KO\|Coca-Cola	SELL	-14.61%	15.6K	$953184	—
FMX\|Fomento Economico Mex Sponsore	SELL	-21.96%	6.3K	$823958	—
GHC\|Graham Holdings Co	SELL	EXIT	—	—	+103.0%
CHV\|Chevron Corp	SELL	-2.15%	4.6K	$731254	—
PRNDY\|Pernod-Ricard SA Unsponsored A	BUY	+6.64%	20.7K	$671588	—
WMT\|Wal Mart Stores Inc	BUY	+200.00%	10.4K	$623662	—
PXDEUR\|Pioneer Nat Res	SELL	EXIT	—	—	—
DEO\|Diageo PLC	SELL	-38.94%	8.5K	$312355	+7.1%
DIS\|Disney Walt Productions	SELL	-2.04%	4.1K	$499927	—
MRK\|Merck Inc	SELL	-7.70%	3.5K	$463550	+66.1%
TFC\|Truist Financial Corp	BUY	+0.83%	11.4K	$443650	—
ORCL\|Oracle Corp	SELL	-0.63%	3.5K	$436495	+113.4%
CTVA\|Corteva Inc	SELL	-30.93%	6.0K	$347932	+95.8%
Reckitt Benckiser Group PLC	SELL	-9.75%	4.6K	$263900	—
HEINY\|Heineken NV Sponsored ADR	BUY	+1.50%	5.1K	$244112	—
DHR\|Danaher Corp	SELL	EXIT	—	—	+71.0%
BP\|BP PLC ADR	SELL	-0.92%	6.5K	$244634	+5.3%
UNM\|Unum Group	BUY	NEW	4.0K	$217323	—
LVMUY\|LVMH Moet Hennessy Louis Vuitt	BUY	NEW	1.1K	$201868	—
DANOY\|Danone ADR	SELL	-6.72%	10.1K	$130099	—
2023-Q4
BRK-A\|Berkshire Hathaway Inc Cl A	SELL	-2.62%	2.4K	$1.3B	—
GOOG\|Alphabet Inc Cl C	SELL	-4.60%	7.7M	$1.1B	+25.7%
MA\|Mastercard Inc Cl A	SELL	-3.39%	2.3M	$982M	+133.0%
NSRGY\|Nestle SA Sponsored ADR	SELL	-2.44%	7.7M	$887M	—
Compagnie Financiere Richemont	SELL	-1.21%	5.0M	$686M	—
HKHHY\|Heineken Holding NV	SELL	-0.82%	7.8M	$664M	-22.5%
4I1\|Philip Morris International In	SELL	-2.60%	6.1M	$572M	—
BRK-B\|Berkshire Hathaway Inc Cl B	SELL	-2.98%	1.6M	$560M	—
NFLX\|Netflix Inc	SELL	-3.14%	1.1M	$548M	+95.4%
Pernod Ricard	SELL	-0.41%	2.8M	$496M	—
MLM\|Martin Marietta Materials	SELL	-1.90%	940.6K	$469M	—
ASHGY\|Ashtead Group PLC	SELL	-1.25%	5.3M	$367M	+15.8%
JPM\|J.P. Morgan Chase	SELL	-3.58%	2.0M	$344M	+11.5%
UBER\|Uber Technologies Inc	BUY	NEW	3.1M	$190M	—
CMCSA\|Comcast Corp New Cl A	SELL	-6.58%	3.3M	$145M	+6.2%
BF-A\|Brown-Forman Corp Cl A	SELL	-3.67%	2.3M	$135M	—
V\|Visa Inc Cl A	SELL	-2.55%	322.9K	$84M	+98.1%
BF-A\|Brown-Forman Corp Cl B	SELL	-2.39%	937.5K	$54M	—
WFC\|Wells Fargo	SELL	-1.95%	712.2K	$35M	—
BUD\|Anheuser-Busch InBev SA	SELL	-5.47%	511.7K	$33M	-43.8%
XOM\|Exxon Mobil Corp	BUY	+0.57%	179.2K	$18M	—
CABO\|Cable One Inc	SELL	-35.07%	16.0K	$9M	-71.0%
MKL\|Markel Corp	SELL	-0.05%	10.0K	$14M	—
MO\|Altria Group Inc	SELL	-5.82%	311.1K	$13M	-36.8%
VMC\|Vulcan Materials	SELL	-8.33%	48.7K	$11M	—
Davide Campari-Milano NV	SELL	-4.22%	771.4K	$9M	—
CR\|Crane Company	SELL	-2.71%	68.3K	$8M	+35.4%
UNP\|Union Pac Corp	BUY	+5.16%	22.9K	$6M	—
PG\|Procter & Gamble	SELL	-0.04%	36.7K	$5M	—
UL\|Unilever PLC ADR	SELL	-49.77%	49.9K	$2M	-20.5%
HRL\|Hormel Foods Corp	SELL	-34.92%	75.6K	$2M	—
DOV\|Dover Corp	SELL	-2.00%	27.9K	$4M	—
AXP\|American Express	SELL	-27.12%	20.5K	$4M	—
Carlsberg B A/S	SELL	-15.94%	24.5K	$3M	—
COST\|Costco Whsl Corp	BUY	+7.91%	5.5K	$4M	—
Loreal SA	SELL	-18.97%	6.8K	$3M	—
MKC\|McCormick Inc	SELL	-1.85%	44.1K	$3M	—
GOOGL\|Alphabet Inc Cl A	BUY	+0.90%	22.5K	$3M	—
PEP\|Pepsico Inc	SELL	-7.12%	13.0K	$2M	—
SWZ\|Swiss Helvetia FD Inc	BUY	+1.60%	270.5K	$2M	—
MSFT\|Microsoft Corp	BUY	+144.75%	5.2K	$2M	—
ABBV\|AbbVie Inc	SELL	-0.58%	12.5K	$2M	—
FULT\|Fulton Finl Corp	SELL	-2.59%	116.8K	$2M	—
AAPL\|Apple Inc	BUY	+13.72%	9.3K	$2M	—
DD\|Dupont De Nemours Inc	BUY	+0.51%	18.2K	$1M	—
PNC\|PNC Bank Corp	SELL	-31.95%	7.7K	$1M	—
FMX\|Fomento Economico Mex Sponsore	SELL	-31.43%	8.1K	$1M	—
OUT\|Outfront Media Inc	SELL	-8.25%	85.9K	$1M	-43.2%
DOW\|Dow Inc	BUY	+1.36%	20.9K	$1M	—
KO\|Coca-Cola	SELL	-8.81%	18.2K	$1M	—
CFRUY\|Compagnie Financiere Richemont	BUY	+5.61%	65.8K	$905574	—
CHV\|Chevron Corp	BUY	+0.08%	4.7K	$706692	—
HKHHY\|Heineken Holding NV ADR	BUY	+11.56%	17.9K	$755203	—
PRNDY\|Pernod-Ricard SA Unsponsored A	BUY	+10.83%	19.4K	$686251	—
LVMH Moet Hennessy Louis Vuitt	BUY	+25.84%	560	$453808	—
CTVA\|Corteva Inc	BUY	+0.36%	8.7K	$418540	—
TFC\|Truist Financial Corp	BUY	+0.89%	11.3K	$416729	—
MRK\|Merck Inc	SELL	-0.94%	3.8K	$414974	+39.2%
Reckitt Benckiser Group PLC	SELL	-5.96%	5.1K	$354453	—
ORCL\|Oracle Corp	SELL	-3.34%	3.5K	$368689	+103.9%
DIS\|Disney Walt Productions	SELL	-4.55%	4.2K	$376614	—
MDLZ\|Mondelez International Inc	SELL	-0.25%	4.4K	$318692	+9.6%
BP\|BP PLC ADR	SELL	-3.36%	6.6K	$231944	+5.9%
HEINY\|Heineken NV Sponsored ADR	BUY	+8.96%	5.0K	$253143	—
JC Decaux SA ACT	SELL	EXIT	—	—	—
DANOY\|Danone ADR	SELL	-26.94%	10.8K	$139780	—
2023-Q3
BRK-A\|Berkshire Hathaway Inc Cl A	SELL	-1.90%	2.5K	$1.3B	—
GOOG\|Alphabet Inc Cl C	SELL	-1.55%	8.1M	$1.1B	+20.0%
NSRGY\|Nestle SA Sponsored ADR	SELL	-1.99%	7.9M	$889M	—
MA\|Mastercard Inc Cl A	SELL	-1.42%	2.4M	$943M	+131.8%
Compagnie Financiere Richemont	SELL	-1.93%	5.0M	$618M	—
HKHHY\|Heineken Holding NV	SELL	-1.07%	7.9M	$598M	-18.7%
Pernod Ricard	SELL	-1.35%	2.8M	$472M	—
4I1\|Philip Morris International In	SELL	-1.17%	6.2M	$578M	—
BRK-B\|Berkshire Hathaway Inc Cl B	SELL	-0.46%	1.6M	$567M	—
NFLX\|Netflix Inc	SELL	-1.21%	1.2M	$439M	+87.4%
MLM\|Martin Marietta Materials	SELL	-1.52%	958.8K	$394M	—
ASHGY\|Ashtead Group PLC	SELL	-0.45%	5.3M	$326M	+31.1%
JPM\|J.P. Morgan Chase	SELL	-0.69%	2.1M	$304M	+11.7%
BF-A\|Brown-Forman Corp Cl A	SELL	-1.86%	2.4M	$137M	—
CMCSA\|Comcast Corp New Cl A	SELL	-2.39%	3.5M	$156M	+12.1%
UL\|Unilever PLC ADR	SELL	-96.44%	99.3K	$5M	-15.2%
V\|Visa Inc Cl A	SELL	-0.80%	331.3K	$76M	+92.6%
BF-A\|Brown-Forman Corp Cl B	SELL	-0.68%	960.4K	$55M	—
CABO\|Cable One Inc	SELL	-71.46%	24.7K	$15M	-66.1%
BUD\|Anheuser-Busch InBev SA	SELL	-2.46%	541.3K	$30M	-47.9%
WFC\|Wells Fargo	SELL	-0.77%	726.4K	$30M	—
XOM\|Exxon Mobil Corp	SELL	-0.13%	178.2K	$21M	+51.9%
MO\|Altria Group Inc	BUY	+0.89%	330.3K	$14M	—
MKL\|Markel Corp	BUY	+0.71%	10.0K	$15M	—
VMC\|Vulcan Materials	SELL	-0.94%	53.1K	$11M	—
Davide Campari-Milano NV	SELL	-0.47%	805.4K	$10M	—
CR\|Crane Company	SELL	-0.21%	70.2K	$6M	+15.7%
AXP\|American Express	SELL	-16.89%	28.2K	$4M	—
PG\|Procter & Gamble	SELL	-0.11%	36.7K	$5M	—
HRL\|Hormel Foods Corp	SELL	-2.86%	116.1K	$4M	—
Carlsberg B A/S	SELL	-0.24%	29.2K	$4M	—
UNP\|Union Pac Corp	BUY	+0.31%	21.8K	$4M	—
DOV\|Dover Corp	SELL	-0.44%	28.5K	$4M	—
MKC\|McCormick Inc	SELL	-0.11%	45.0K	$3M	—
GOOGL\|Alphabet Inc Cl A	BUY	+4.20%	22.3K	$3M	—
COST\|Costco Whsl Corp	SELL	-1.63%	5.1K	$3M	+142.7%
PEP\|Pepsico Inc	SELL	-0.11%	14.0K	$2M	—
UL\|Unilever PLC	SELL	EXIT	—	—	-15.2%
SWZ\|Swiss Helvetia FD Inc	BUY	+1.61%	266.3K	$2M	—
ABBV\|AbbVie Inc	SELL	-0.06%	12.6K	$2M	—
OUT\|Outfront Media Inc	SELL	-4.35%	93.7K	$946057	-45.8%
AAPL\|Apple Inc	BUY	+7.81%	8.2K	$1M	—
FMX\|Fomento Economico Mex Sponsore	SELL	-10.59%	11.8K	$1M	—
FULT\|Fulton Finl Corp	BUY	+20.02%	119.9K	$1M	—
DD\|Dupont De Nemours Inc	BUY	+0.45%	18.1K	$1M	—
KO\|Coca-Cola	SELL	-0.75%	20.0K	$1M	—
DOW\|Dow Inc	BUY	+1.29%	20.7K	$1M	—
CFRUY\|Compagnie Financiere Richemont	BUY	+1.34%	62.3K	$763321	—
CHV\|Chevron Corp	BUY	+0.28%	4.7K	$798166	—
PRNDY\|Pernod-Ricard SA Unsponsored A	BUY	+0.08%	17.5K	$586403	—
MSFT\|Microsoft Corp	SELL	-4.52%	2.1K	$673179	—
LAMR\|Lamar Advertising Co-A	SELL	-5.53%	6.6K	$548815	—
GHC\|Graham Holdings Co	SELL	-0.68%	1.2K	$677045	+64.6%
MCD\|McDonalds Corp	SELL	-2.72%	1.9K	$508966	—
CTVA\|Corteva Inc	BUY	+0.30%	8.7K	$445256	—
MRK\|Merck Inc	SELL	-2.98%	3.8K	$395547	+44.5%
ORCL\|Oracle Corp	BUY	+0.36%	3.6K	$383219	—
DIS\|Disney Walt Productions	SELL	-1.47%	4.4K	$354201	—
TFC\|Truist Financial Corp	BUY	+0.95%	11.2K	$320051	—
BP\|BP PLC ADR	SELL	-0.35%	6.8K	$262540	+9.2%
HEINY\|Heineken NV Sponsored ADR	BUY	+0.24%	4.6K	$202131	—
LVMUY\|LVMH Moet Hennessy Louis Vuitt	SELL	EXIT	—	—	+2.0%
DANOY\|Danone ADR	SELL	-10.90%	14.8K	$163302	—
BURCA\|Burnham Hldgs Inc Cl A	BUY	NEW	10.0K	$122100	—
2023-Q2
BRK-A\|Berkshire Hathaway Inc Cl A	SELL	-1.90%	2.5K	$1.3B	—
NSRGY\|Nestle SA Sponsored ADR	SELL	-2.11%	8.0M	$965M	—
GOOG\|Alphabet Inc Cl C	SELL	-2.45%	8.2M	$995M	+9.5%
MA\|Mastercard Inc Cl A	SELL	-2.33%	2.4M	$951M	+118.1%
Compagnie Financiere Richemont	SELL	-6.81%	5.1M	$873M	—
HKHHY\|Heineken Holding NV	SELL	-2.45%	8.0M	$695M	-8.0%
Pernod Ricard	SELL	-2.16%	2.9M	$632M	—
4I1\|Philip Morris International In	SELL	-1.80%	6.3M	$616M	—
BRK-B\|Berkshire Hathaway Inc Cl B	SELL	-0.98%	1.6M	$554M	—
NFLX\|Netflix Inc	BUY	+10.34%	1.2M	$518M	—
MLM\|Martin Marietta Materials	SELL	-2.78%	973.5K	$449M	—
ASHGY\|Ashtead Group PLC	BUY	+3.80%	5.4M	$371M	—
JPM\|J.P. Morgan Chase	BUY	+16.17%	2.1M	$307M	—
UL\|Unilever PLC ADR	SELL	-34.33%	2.8M	$146M	-11.7%
BF-A\|Brown-Forman Corp Cl A	SELL	-1.99%	2.4M	$163M	—
CMCSA\|Comcast Corp New Cl A	SELL	-3.98%	3.6M	$150M	-0.4%
V\|Visa Inc Cl A	SELL	-2.07%	334.0K	$79M	+83.3%
BF-A\|Brown-Forman Corp Cl B	SELL	-2.49%	967.0K	$65M	—
CABO\|Cable One Inc	SELL	-4.19%	86.4K	$57M	-64.6%
BUD\|Anheuser-Busch InBev SA	SELL	-5.44%	554.9K	$31M	-45.1%
WFC\|Wells Fargo	SELL	-2.53%	732.0K	$31M	—
XOM\|Exxon Mobil Corp	BUY	+0.76%	178.4K	$19M	—
MO\|Altria Group Inc	BUY	+0.86%	327.4K	$15M	—
MKL\|Markel Corp	BUY	+1.73%	9.9K	$14M	—
VMC\|Vulcan Materials	SELL	-2.11%	53.6K	$12M	—
Davide Campari-Milano NV	SELL	-0.76%	809.2K	$11M	—
CXT\|Crane Holdings	SELL	EXIT	—	—	+53.6%
AXP\|American Express	SELL	-11.82%	33.9K	$6M	—
CR\|Crane Company	BUY	NEW	70.3K	$6M	—
PG\|Procter & Gamble	SELL	-0.41%	36.7K	$6M	—
HRL\|Hormel Foods Corp	SELL	-4.90%	119.5K	$5M	—
Carlsberg B A/S	SELL	-0.39%	29.2K	$5M	—
DOV\|Dover Corp	SELL	-2.47%	28.6K	$4M	—
UNP\|Union Pac Corp	BUY	+0.62%	21.7K	$4M	—
MKC\|McCormick Inc	BUY	+1.35%	45.0K	$4M	—
OUT\|Outfront Media Inc	SELL	-47.26%	97.9K	$2M	-29.2%
COST\|Costco Whsl Corp	BUY	+1.87%	5.2K	$3M	—
PEP\|Pepsico Inc	SELL	-2.60%	14.1K	$3M	—
GOOGL\|Alphabet Inc Cl A	BUY	+7.93%	21.4K	$3M	—
SWZ\|Swiss Helvetia FD Inc	BUY	+1.51%	262.0K	$2M	—
ABBV\|AbbVie Inc	SELL	-0.15%	12.6K	$2M	—
AAPL\|Apple Inc	BUY	+8.34%	7.6K	$1M	—
FMX\|Fomento Economico Mex Sponsore	SELL	-2.04%	13.2K	$1M	—
CFRUY\|Compagnie Financiere Richemont	SELL	-29.42%	61.5K	$1M	—
DD\|Dupont De Nemours Inc	BUY	+0.54%	18.0K	$1M	—
ABT\|Abbott Labs	SELL	-1.40%	11.6K	$1M	—
KO\|Coca-Cola	BUY	+1.97%	20.2K	$1M	—
FULT\|Fulton Finl Corp	BUY	+25.03%	99.9K	$1M	—
PRNDY\|Pernod-Ricard SA Unsponsored A	SELL	-29.69%	17.5K	$774190	+4.1%
DOW\|Dow Inc	BUY	+1.32%	20.4K	$1M	—
LAMR\|Lamar Advertising Co-A	SELL	-12.18%	7.0K	$690780	—
CHV\|Chevron Corp	SELL	-2.18%	4.7K	$742776	—
MSFT\|Microsoft Corp	BUY	+4.88%	2.2K	$760426	—
GHC\|Graham Holdings Co	BUY	+0.09%	1.2K	$668150	—
DEO\|Diageo PLC	SELL	-5.37%	13.8K	$594594	+30.4%
CFR\|Compagnie Financiere Richemont	SELL	EXIT	—	—	+24.5%
HEINY\|Heineken NV Sponsored ADR	SELL	-59.16%	4.6K	$234476	—
MCD\|McDonalds Corp	BUY	+1.74%	2.0K	$592642	—
CTVA\|Corteva Inc	BUY	+0.27%	8.7K	$497164	—
MRK\|Merck Inc	BUY	+3.37%	4.0K	$456921	—
DIS\|Disney Walt Productions	SELL	-0.45%	4.4K	$395971	—
ORCL\|Oracle Corp	SELL	-9.88%	3.6K	$429319	+85.0%
TFC\|Truist Financial Corp	SELL	-1.77%	11.1K	$336352	-41.8%
ASHGY\|Ashtead Group PLC ADR	BUY	+0.24%	1.3K	$346890	—
MDLZ\|Mondelez International Inc	BUY	+0.25%	4.4K	$321738	—
BP\|BP PLC ADR	BUY	+1.27%	6.8K	$240101	—
LVMUY\|LVMH Moet Hennessy Louis Vuitt	BUY	+1.35%	1.1K	$211657	—
2023-Q1
BRK-A\|Berkshire Hathaway Inc Cl A	SELL	-0.81%	2.6K	$1.2B	—
NSRGY\|Nestle SA Sponsored ADR	SELL	-0.92%	8.2M	$997M	—
MA\|Mastercard Inc Cl A	SELL	-0.92%	2.5M	$899M	+110.4%
Compagnie Financiere Richemont	SELL	-1.83%	5.5M	$882M	—
GOOG\|Alphabet Inc Cl C	BUY	+6.24%	8.4M	$876M	—
HKHHY\|Heineken Holding NV	SELL	-0.59%	8.2M	$753M	-16.5%
Pernod Ricard	SELL	-0.42%	2.9M	$663M	—
4I1\|Philip Morris International In	SELL	-0.43%	6.4M	$625M	—
BRK-B\|Berkshire Hathaway Inc Cl B	SELL	-1.05%	1.6M	$507M	—
NFLX\|Netflix Inc	SELL	-0.46%	1.1M	$368M	+51.0%
MLM\|Martin Marietta Materials	SELL	-0.90%	1.0M	$356M	—
ASHGY\|Ashtead Group PLC	SELL	-0.43%	5.2M	$317M	+25.3%
UL\|Unilever PLC ADR	SELL	-22.19%	4.3M	$221M	-16.2%
JPM\|J.P. Morgan Chase	SELL	-1.37%	1.8M	$237M	+4.7%
BF-A\|Brown-Forman Corp Cl A	SELL	-1.13%	2.4M	$160M	—
CMCSA\|Comcast Corp New Cl A	SELL	-1.34%	3.8M	$143M	-6.2%
V\|Visa Inc Cl A	SELL	-1.62%	341.1K	$77M	+78.3%
BF-A\|Brown-Forman Corp Cl B	SELL	-0.69%	991.7K	$64M	—
CABO\|Cable One Inc	BUY	+0.67%	90.2K	$63M	—
BUD\|Anheuser-Busch InBev SA	SELL	-4.07%	586.8K	$39M	-44.6%
WFC\|Wells Fargo	SELL	-1.98%	751.0K	$28M	—
XOM\|Exxon Mobil Corp	BUY	+0.35%	177.1K	$19M	—
MO\|Altria Group Inc	SELL	-0.22%	324.6K	$14M	-29.4%
MKL\|Markel Corp	BUY	+11.75%	9.8K	$12M	—
CFR\|Compagnie Financiere Richemont	SELL	-96.40%	482.5K	$607346	+55.6%
Davide Campari-Milano NV	BUY	+0.33%	815.4K	$10M	—
VMC\|Vulcan Materials	SELL	-0.73%	54.8K	$9M	—
CXT\|Crane Holdings	SELL	-1.92%	70.3K	$8M	+21.0%
AXP\|American Express	SELL	-0.99%	38.4K	$6M	—
HRL\|Hormel Foods Corp	SELL	-3.47%	125.7K	$5M	—
PG\|Procter & Gamble	BUY	+2.50%	36.9K	$5M	—
Carlsberg B A/S	BUY	+2.93%	29.4K	$5M	—
DOV\|Dover Corp	SELL	-1.16%	29.3K	$4M	—
UNP\|Union Pac Corp	BUY	+16.20%	21.6K	$4M	—
Heineken NV	SELL	-37.09%	25.4K	$3M	—
Loreal SA	BUY	+7.93%	8.4K	$4M	—
MKC\|McCormick Inc	SELL	-1.33%	44.4K	$4M	—
OUT\|Outfront Media Inc	SELL	-16.38%	185.7K	$3M	-16.6%
PEP\|Pepsico Inc	SELL	-26.99%	14.4K	$3M	—
COST\|Costco Whsl Corp	SELL	-4.77%	5.1K	$3M	+117.0%
GOOGL\|Alphabet Inc Cl A	BUY	+1.10%	19.9K	$2M	—
SWZ\|Swiss Helvetia FD Inc	BUY	+1.58%	258.2K	$2M	—
CFRUY\|Compagnie Financiere Richemont	SELL	-21.43%	87.2K	$1M	—
KO\|Coca-Cola	SELL	-5.84%	19.8K	$1M	—
DD\|Dupont De Nemours Inc	BUY	+0.52%	17.9K	$1M	—
FMX\|Fomento Economico Mex Sponsore	SELL	-2.71%	13.5K	$1M	—
PRNDY\|Pernod-Ricard SA Unsponsored A	SELL	-22.85%	24.9K	$1M	-4.0%
FULT\|Fulton Finl Corp	BUY	+18.54%	79.9K	$1M	—
DOW\|Dow Inc	BUY	+1.25%	20.1K	$1M	—
CHV\|Chevron Corp	BUY	+0.27%	4.8K	$787426	—
DEO\|Diageo PLC	SELL	-24.41%	14.6K	$653612	+28.3%
HEINY\|Heineken NV Sponsored ADR	SELL	-37.11%	11.2K	$601401	—
GHC\|Graham Holdings Co	BUY	+0.26%	1.2K	$695918	—
DANOY\|Danone ADR	SELL	-75.18%	16.6K	$206245	—
MSFT\|Microsoft Corp	SELL	-6.83%	2.1K	$613791	—
CTVA\|Corteva Inc	BUY	+0.27%	8.7K	$521910	—
WMT\|Wal Mart Stores Inc	SELL	-0.72%	3.5K	$509440	—
TFC\|Truist Financial Corp	BUY	+3.34%	11.3K	$384699	—
DIS\|Disney Walt Productions	SELL	-2.28%	4.5K	$446095	—
Reckitt Benckiser Group PLC	SELL	-1.36%	5.5K	$415347	—
LVMH Moet Hennessy Louis Vuitt	BUY	NEW	445	$408242	—
MRK\|Merck Inc	BUY	+4.30%	3.8K	$407612	—
MLKN\|MillerKnoll Inc	SELL	EXIT	—	—	—
DHR\|Danaher Corp	SELL	-8.45%	1.1K	$272959	+56.1%
BP\|BP PLC ADR	SELL	-2.47%	6.7K	$254916	+8.8%
LVMUY\|LVMH Moet Hennessy Louis Vuitt	BUY	NEW	1.1K	$203479	—
2022-Q4
BRK-A\|Berkshire Hathaway Inc Cl A	SELL	-4.06%	2.6K	$1.2B	—
NSRGY\|Nestle SA Sponsored ADR	SELL	-5.21%	8.3M	$954M	—
MA\|Mastercard Inc Cl A	SELL	-6.16%	2.5M	$869M	+97.5%
GOOG\|Alphabet Inc Cl C	BUY	+3.01%	7.9M	$704M	—
Compagnie Financiere Richemont	SELL	-3.71%	5.6M	$729M	—
4I1\|Philip Morris International In	SELL	-5.75%	6.5M	$654M	—
HKHHY\|Heineken Holding NV	BUY	+0.43%	8.2M	$634M	—
Pernod Ricard	SELL	-2.26%	2.9M	$576M	—
BRK-B\|Berkshire Hathaway Inc Cl B	SELL	-3.42%	1.7M	$512M	—
MLM\|Martin Marietta Materials	SELL	-5.37%	1.0M	$341M	—
NFLX\|Netflix Inc	BUY	+13.79%	1.1M	$316M	—
ASHGY\|Ashtead Group PLC	SELL	-1.76%	5.2M	$295M	+8.5%
UL\|Unilever PLC ADR	SELL	-14.73%	5.5M	$275M	-20.5%
JPM\|J.P. Morgan Chase	SELL	-4.38%	1.8M	$247M	-1.1%
BF-A\|Brown-Forman Corp Cl A	SELL	-5.59%	2.5M	$163M	—
CMCSA\|Comcast Corp New Cl A	SELL	-4.27%	3.8M	$133M	-15.7%
CABO\|Cable One Inc	SELL	-6.36%	89.6K	$64M	-62.1%
V\|Visa Inc Cl A	SELL	-4.54%	346.7K	$72M	+65.2%
BF-A\|Brown-Forman Corp Cl B	SELL	-3.32%	998.6K	$66M	—
BUD\|Anheuser-Busch InBev SA	SELL	-4.84%	611.8K	$37M	-49.4%
WFC\|Wells Fargo	SELL	-2.34%	766.2K	$32M	—
XOM\|Exxon Mobil Corp	SELL	-1.47%	176.5K	$19M	+51.7%
MO\|Altria Group Inc	SELL	-3.17%	325.3K	$15M	-30.4%
MKL\|Markel Corp	BUY	+8.56%	8.7K	$11M	—
CFR\|Compagnie Financiere Richemont	SELL	-1.14%	13.4M	$11M	+69.3%
Swedish Match AB	SELL	EXIT	—	—	—
VMC\|Vulcan Materials	SELL	-0.44%	55.2K	$10M	—
Davide Campari-Milano NV	SELL	-0.10%	812.7K	$8M	—
CXT\|Crane Holdings	SELL	-2.15%	71.7K	$7M	+5.2%
HRL\|Hormel Foods Corp	SELL	-1.55%	130.2K	$6M	—
AXP\|American Express	SELL	-2.52%	38.8K	$6M	—
PG\|Procter & Gamble	BUY	+2.52%	36.0K	$5M	—
Nestle SA-REG	SELL	-5.90%	39.9K	$5M	—
DOV\|Dover Corp	SELL	-0.34%	29.7K	$4M	—
UNP\|Union Pac Corp	BUY	+0.57%	18.6K	$4M	—
Heineken NV	BUY	+3.52%	40.4K	$4M	—
Carlsberg B A/S	SELL	-0.85%	28.5K	$4M	—
MKC\|McCormick Inc	SELL	-0.33%	45.0K	$4M	—
OUT\|Outfront Media Inc	SELL	-7.80%	222.1K	$4M	-20.5%
PEP\|Pepsico Inc	SELL	-5.21%	19.8K	$4M	—
Loreal SA	BUY	+0.01%	7.8K	$3M	—
SWZ\|Swiss Helvetia FD Inc	BUY	+1.60%	254.1K	$2M	—
PNC\|PNC Bank Corp	SELL	-3.63%	11.3K	$2M	—
PRNDY\|Pernod-Ricard SA Unsponsored A	SELL	-19.02%	32.3K	$1M	-12.3%
CFRUY\|Compagnie Financiere Richemont	SELL	-19.73%	110.9K	$1M	—
DD\|Dupont De Nemours Inc	BUY	+0.46%	17.8K	$1M	—
FULT\|Fulton Finl Corp	SELL	-0.30%	67.4K	$1M	—
FMX\|Fomento Economico Mex Sponsore	SELL	-1.00%	13.9K	$1M	—
DOW\|Dow Inc	BUY	+1.38%	19.9K	$1M	—
AAPL\|Apple Inc	SELL	-2.46%	7.0K	$907171	—
HEINY\|Heineken NV Sponsored ADR	SELL	-19.16%	17.8K	$833321	—
CHV\|Chevron Corp	BUY	+0.23%	4.8K	$863898	—
GHC\|Graham Holdings Co	BUY	+0.26%	1.2K	$704029	—
DANOY\|Danone ADR	SELL	-9.00%	66.7K	$701279	—
MSFT\|Microsoft Corp	SELL	-1.08%	2.3K	$547989	—
CTVA\|Corteva Inc	BUY	+0.23%	8.6K	$507354	—
TFC\|Truist Financial Corp	BUY	+0.62%	10.9K	$469759	—
DIS\|Disney Walt Productions	SELL	-4.86%	4.6K	$396100	—
MRK\|Merck Inc	SELL	-4.80%	3.7K	$407517	+41.4%
MLKN\|MillerKnoll Inc	SELL	-35.62%	15.6K	$327756	—
BP\|BP PLC ADR	BUY	NEW	6.9K	$240630	—
2022-Q3
BRK-A\|Berkshire Hathaway Inc Cl A	SELL	-1.53%	2.7K	$1.1B	—
NSRGY\|Nestle SA Sponsored ADR	SELL	-1.00%	8.7M	$939M	—
MA\|Mastercard Inc Cl A	SELL	-1.66%	2.7M	$757M	+93.2%
GOOG\|Alphabet Inc Cl C	BUY	NEW	7.7M	$740M	—
4I1\|Philip Morris International In	SELL	-1.27%	6.9M	$569M	—
Compagnie Financiere Richemont	SELL	-0.44%	5.8M	$560M	—
HKHHY\|Heineken Holding NV	SELL	-0.16%	8.2M	$567M	-26.1%
Pernod Ricard	SELL	-0.59%	3.0M	$556M	—
BRK-B\|Berkshire Hathaway Inc Cl B	SELL	-1.77%	1.7M	$459M	—
MLM\|Martin Marietta Materials	SELL	-1.12%	1.1M	$344M	—
UL\|Unilever PLC ADR	SELL	-7.98%	6.4M	$281M	-23.3%
ASHGY\|Ashtead Group PLC	BUY	+25.20%	5.3M	$241M	—
NFLX\|Netflix Inc	BUY	+80.63%	940.8K	$222M	—
JPM\|J.P. Morgan Chase	SELL	-1.33%	1.9M	$202M	-13.6%
CMCSA\|Comcast Corp New Cl A	SELL	-15.57%	4.0M	$117M	-5.4%
BF-A\|Brown-Forman Corp Cl A	SELL	-1.85%	2.6M	$177M	—
BABA\|Alibaba Group Hldg Ltd Sponsor	SELL	EXIT	—	—	-59.7%
CABO\|Cable One Inc	BUY	+1.89%	95.7K	$82M	—
BF-A\|Brown-Forman Corp Cl B	SELL	-1.32%	1.0M	$69M	—
V\|Visa Inc Cl A	SELL	-1.47%	363.2K	$65M	+65.2%
BUD\|Anheuser-Busch InBev SA	SELL	-11.02%	642.9K	$29M	-51.1%
WFC\|Wells Fargo	SELL	-5.57%	784.5K	$32M	—
XOM\|Exxon Mobil Corp	BUY	+0.47%	179.1K	$16M	—
MO\|Altria Group Inc	BUY	+0.93%	335.9K	$14M	—
Swedish Match AB	SELL	-5.69%	1.0M	$10M	—
VMC\|Vulcan Materials	SELL	-10.47%	55.4K	$9M	—
MKL\|Markel Corp	BUY	+21.57%	8.0K	$9M	—
Davide Campari-Milano NV	SELL	-1.10%	813.5K	$7M	—
CFR\|Compagnie Financiere Richemont	SELL	-0.71%	13.6M	$6M	+57.0%
CXT\|Crane Holdings	SELL	-1.45%	73.3K	$6M	-1.1%
HRL\|Hormel Foods Corp	SELL	-1.73%	132.3K	$6M	—
PG\|Procter & Gamble	SELL	-6.50%	35.1K	$4M	—
OUT\|Outfront Media Inc	SELL	-9.61%	240.8K	$4M	-15.9%
Carlsberg B A/S	SELL	-12.17%	28.8K	$3M	—
UNP\|Union Pac Corp	BUY	+0.61%	18.5K	$4M	—
MKC\|McCormick Inc	SELL	-1.95%	45.1K	$3M	—
DOV\|Dover Corp	SELL	-0.93%	29.8K	$3M	—
PEP\|Pepsico Inc	SELL	-1.51%	20.9K	$3M	—
COST\|Costco Whsl Corp	SELL	-3.58%	5.4K	$3M	+133.2%
GOOGL\|Alphabet Inc Cl A	BUY	NEW	19.6K	$2M	—
SWZ\|Swiss Helvetia FD Inc	BUY	+2.45%	250.1K	$2M	—
CFRUY\|Compagnie Financiere Richemont	SELL	-18.07%	138.2K	$1M	—
PRNDY\|Pernod-Ricard SA Unsponsored A	SELL	-17.88%	39.9K	$1M	-14.2%
KO\|Coca-Cola	SELL	-1.73%	21.0K	$1M	—
HEINY\|Heineken NV Sponsored ADR	SELL	-23.96%	22.0K	$968000	—
FULT\|Fulton Finl Corp	SELL	-0.66%	67.6K	$1M	—
DOW\|Dow Inc	BUY	+1.45%	19.6K	$862000	—
DD\|Dupont De Nemours Inc	BUY	+0.57%	17.8K	$895000	—
FMX\|Fomento Economico Mex Sponsore	SELL	-0.95%	14.0K	$879000	—
MSFT\|Microsoft Corp	SELL	-36.35%	2.3K	$538000	—
LVMH Moet Hennessy Louis Vuitt	SELL	EXIT	—	—	—
DEO\|Diageo PLC	SELL	-0.26%	19.4K	$820000	+30.0%
MLKN\|MillerKnoll Inc	SELL	-9.01%	24.2K	$378000	—
CHV\|Chevron Corp	BUY	+0.27%	4.8K	$690000	—
GHC\|Graham Holdings Co	BUY	+0.17%	1.2K	$625000	—
TFC\|Truist Financial Corp	BUY	+0.58%	10.8K	$472000	—
MCD\|McDonalds Corp	SELL	-4.08%	2.0K	$450000	—
CTVA\|Corteva Inc	BUY	+0.24%	8.6K	$492000	—
DIS\|Disney Walt Productions	SELL	-7.92%	4.8K	$452000	—
MRK\|Merck Inc	SELL	-1.30%	3.9K	$332000	+24.2%
YUSD\|Alleghany Corp	SELL	EXIT	—	—	—
ASHGY\|Ashtead Group PLC ADR	BUY	NEW	1.2K	$228000	—
2022-Q2
BRK-A\|Berkshire Hathaway Inc Cl A	SELL	-1.68%	2.8K	$1.1B	—
NSRGY\|Nestle SA Sponsored ADR	SELL	-1.14%	8.8M	$1.0B	—
MA\|Mastercard Inc Cl A	SELL	-3.27%	2.7M	$854M	+103.1%
GOOG\|Alphabet Inc Cl C	BUY	+6.23%	372.2K	$814M	—
Compagnie Financiere Richemont	SELL	-0.92%	5.9M	$623M	—
4I1\|Philip Morris International In	SELL	-0.93%	6.9M	$685M	—
Pernod Ricard	BUY	+0.66%	3.0M	$554M	—
HKHHY\|Heineken Holding NV	SELL	-0.09%	8.2M	$597M	-23.1%
BRK-B\|Berkshire Hathaway Inc Cl B	SELL	-1.96%	1.7M	$477M	—
MLM\|Martin Marietta Materials	SELL	-1.20%	1.1M	$323M	—
UL\|Unilever PLC ADR	SELL	-11.03%	7.0M	$319M	-24.8%
JPM\|J.P. Morgan Chase	SELL	-8.37%	2.0M	$220M	-6.7%
CMCSA\|Comcast Corp New Cl A	SELL	-3.19%	4.7M	$185M	+4.8%
ASHGY\|Ashtead Group PLC	BUY	+42.09%	4.2M	$176M	—
BF-A\|Brown-Forman Corp Cl A	SELL	-1.00%	2.7M	$181M	—
BABA\|Alibaba Group Hldg Ltd Sponsor	BUY	+0.55%	1.6M	$180M	—
CABO\|Cable One Inc	BUY	+1.54%	93.9K	$121M	—
NFLX\|Netflix Inc	BUY	NEW	520.8K	$91M	—
V\|Visa Inc Cl A	SELL	-2.79%	368.6K	$73M	+67.0%
BF-A\|Brown-Forman Corp Cl B	SELL	-2.27%	1.0M	$73M	—
BUD\|Anheuser-Busch InBev SA	SELL	-10.20%	722.5K	$39M	-48.4%
WFC\|Wells Fargo	SELL	-5.21%	830.8K	$33M	—
MO\|Altria Group Inc	BUY	+0.39%	332.8K	$14M	—
XOM\|Exxon Mobil Corp	SELL	-0.89%	178.3K	$15M	+25.1%
VMC\|Vulcan Materials	SELL	-7.87%	61.9K	$9M	—
Swedish Match AB	SELL	-16.33%	1.1M	$11M	—
CFR\|Compagnie Financiere Richemont	SELL	-0.41%	13.7M	$7M	+50.1%
Davide Campari-Milano NV	SELL	-6.66%	822.5K	$9M	—
MKL\|Markel Corp	BUY	+1.44%	6.6K	$9M	—
CR\|Crane	SELL	EXIT	—	—	—
AXP\|American Express	SELL	-0.95%	39.8K	$6M	—
OUT\|Outfront Media Inc	BUY	+3.45%	266.4K	$5M	—
HRL\|Hormel Foods Corp	SELL	-2.30%	134.6K	$6M	—
CXT\|Crane Holdings	BUY	NEW	74.4K	$7M	—
PG\|Procter & Gamble	SELL	-2.19%	37.5K	$5M	—
UNP\|Union Pac Corp	BUY	+0.09%	18.3K	$4M	—
DOV\|Dover Corp	SELL	-0.58%	30.0K	$4M	—
MKC\|McCormick Inc	SELL	-2.49%	46.0K	$4M	—
Carlsberg B A/S	SELL	-12.73%	32.8K	$4M	—
PEP\|Pepsico Inc	SELL	-2.22%	21.2K	$4M	—
COST\|Costco Whsl Corp	SELL	-2.61%	5.6K	$3M	+117.6%
Loreal SA	BUY	+15.86%	7.8K	$3M	—
SWZ\|Swiss Helvetia FD Inc	BUY	+2.12%	244.2K	$2M	—
PRNDY\|Pernod-Ricard SA Unsponsored A	BUY	+1.19%	48.6K	$2M	—
ABBV\|AbbVie Inc	SELL	-2.32%	12.6K	$2M	—
ABT\|Abbott Labs	SELL	-4.07%	11.8K	$1M	—
KO\|Coca-Cola	SELL	-0.33%	21.4K	$1M	—
DD\|Dupont De Nemours Inc	BUY	+0.54%	17.7K	$981000	—
AAPL\|Apple Inc	SELL	-2.05%	7.2K	$979000	—
FULT\|Fulton Finl Corp	SELL	-8.88%	68.1K	$983000	—
DOW\|Dow Inc	BUY	+1.05%	19.3K	$998000	—
FMX\|Fomento Economico Mex Sponsore	SELL	-1.73%	14.1K	$955000	—
MSFT\|Microsoft Corp	SELL	-2.02%	3.6K	$932000	—
MLKN\|MillerKnoll Inc	SELL	-2.20%	26.6K	$700000	—
LAMR\|Lamar Advertising Co-A	SELL	-1.37%	7.9K	$697000	—
DANOY\|Danone ADR	SELL	-1.66%	73.3K	$817000	—
CHV\|Chevron Corp	BUY	+0.23%	4.8K	$693000	—
DIS\|Disney Walt Productions	SELL	-0.91%	5.2K	$491000	—
GHC\|Graham Holdings Co	BUY	+0.26%	1.2K	$657000	—
TFC\|Truist Financial Corp	BUY	+0.52%	10.8K	$512000	—
MCD\|McDonalds Corp	SELL	-0.73%	2.0K	$502000	—
CTVA\|Corteva Inc	BUY	+0.25%	8.6K	$465000	—
Reckitt Benckiser Group PLC	SELL	-0.45%	5.5K	$414000	—
MRK\|Merck Inc	BUY	+0.26%	3.9K	$356000	—
MDLZ\|Mondelez International Inc	BUY	NEW	4.4K	$273000	—
KHC\|Kraft Heinz Co	SELL	EXIT	—	—	+24.1%
Cir SPA	SELL	EXIT	—	—	—
Cir SPA	BUY	NEW	251.2K	$106000	—
2022-Q1
BRK-A\|Berkshire Hathaway Inc Cl A	SELL	-5.95%	2.8K	$1.5B	—
NSRGY\|Nestle SA Sponsored ADR	SELL	-3.65%	8.9M	$1.2B	—
MA\|Mastercard Inc Cl A	SELL	-8.50%	2.8M	$1.0B	+111.8%
GOOG\|Alphabet Inc Cl C	SELL	-3.49%	350.3K	$979M	+119.4%
Compagnie Financiere Richemont	SELL	-2.76%	5.9M	$760M	—
Pernod Ricard	SELL	-4.05%	3.0M	$666M	—
HKHHY\|Heineken Holding NV	BUY	+6.33%	8.2M	$651M	—
4I1\|Philip Morris International In	SELL	-3.26%	7.0M	$658M	—
BRK-B\|Berkshire Hathaway Inc Cl B	SELL	-2.33%	1.8M	$629M	—
MLM\|Martin Marietta Materials	SELL	-6.48%	1.1M	$421M	—
UL\|Unilever PLC ADR	SELL	-7.94%	7.8M	$357M	-15.1%
JPM\|J.P. Morgan Chase	SELL	-9.01%	2.1M	$291M	+11.4%
CMCSA\|Comcast Corp New Cl A	SELL	-3.10%	4.9M	$228M	+18.4%
ASHGY\|Ashtead Group PLC	BUY	+21.03%	3.0M	$189M	—
BF-A\|Brown-Forman Corp Cl A	SELL	-3.50%	2.7M	$169M	—
BABA\|Alibaba Group Hldg Ltd Sponsor	BUY	+0.67%	1.6M	$171M	—
CABO\|Cable One Inc	BUY	+1.86%	92.5K	$135M	—
V\|Visa Inc Cl A	SELL	-0.76%	379.2K	$84M	+74.2%
BF-A\|Brown-Forman Corp Cl B	SELL	-1.94%	1.1M	$72M	—
BUD\|Anheuser-Busch InBev SA	SELL	-4.08%	804.5K	$49M	-42.9%
WFC\|Wells Fargo	SELL	-16.32%	876.4K	$42M	—
MO\|Altria Group Inc	BUY	+0.11%	331.5K	$17M	—
CFR\|Compagnie Financiere Richemont	SELL	-0.62%	13.7M	$11M	+67.4%
XOM\|Exxon Mobil Corp	BUY	+0.44%	179.9K	$15M	—
VMC\|Vulcan Materials	BUY	+0.34%	67.2K	$12M	—
Davide Campari-Milano NV	BUY	+0.27%	881.2K	$10M	—
Swedish Match AB	SELL	-3.19%	1.3M	$10M	—
MKL\|Markel Corp	SELL	-0.15%	6.5K	$10M	—
CR\|Crane	SELL	-0.93%	74.4K	$8M	—
OUT\|Outfront Media Inc	SELL	-9.42%	257.5K	$7M	+21.2%
AXP\|American Express	SELL	-2.09%	40.2K	$8M	—
HRL\|Hormel Foods Corp	SELL	-0.86%	137.8K	$7M	—
PG\|Procter & Gamble	BUY	+1.63%	38.4K	$6M	—
Carlsberg B A/S	BUY	+9.17%	37.5K	$5M	—
DOV\|Dover Corp	SELL	-0.82%	30.2K	$5M	—
UNP\|Union Pac Corp	BUY	+0.39%	18.3K	$5M	—
MKC\|McCormick Inc	SELL	-1.25%	47.2K	$5M	—
PEP\|Pepsico Inc	SELL	-0.41%	21.7K	$4M	—
COST\|Costco Whsl Corp	BUY	+9.02%	5.7K	$3M	—
GOOGL\|Alphabet Inc Cl A	SELL	-1.21%	982	$3M	+144.0%
CFRUY\|Compagnie Financiere Richemont	SELL	-1.74%	168.7K	$2M	—
PNC\|PNC Bank Corp	SELL	-4.10%	11.7K	$2M	—
PRNDY\|Pernod-Ricard SA Unsponsored A	SELL	-1.67%	48.0K	$2M	-0.8%
SWZ\|Swiss Helvetia FD Inc	BUY	+1.82%	239.1K	$2M	—
MLKN\|MillerKnoll Inc	SELL	-53.71%	27.2K	$941000	—
HEINY\|Heineken NV Sponsored ADR	SELL	-2.17%	28.9K	$1M	—
DANOY\|Danone ADR	SELL	-44.15%	74.6K	$830000	—
FMX\|Fomento Economico Mex Sponsore	SELL	-29.07%	14.4K	$1M	—
DD\|Dupont De Nemours Inc	SELL	-2.96%	17.6K	$1M	+11.0%
AAPL\|Apple Inc	BUY	+12.69%	7.3K	$1M	—
DOW\|Dow Inc	SELL	-1.48%	19.1K	$1M	+19.8%
MSFT\|Microsoft Corp	BUY	+7.39%	3.7K	$1M	—
CHV\|Chevron Corp	BUY	+0.23%	4.8K	$778000	—
GHC\|Graham Holdings Co	BUY	+0.26%	1.2K	$707000	—
HKHHY\|Heineken Holding NV ADR	BUY	+14.29%	16.0K	$633000	—
TFC\|Truist Financial Corp	BUY	+0.42%	10.7K	$608000	—
MCD\|McDonalds Corp	BUY	+0.99%	2.0K	$507000	—
CTVA\|Corteva Inc	SELL	-5.39%	8.6K	$493000	+85.7%
MRK\|Merck Inc	BUY	+0.28%	3.9K	$320000	—
NKE\|Nike Inc - Cl B	SELL	EXIT	—	—	+7.0%
SBUX\|Starbucks Corp	SELL	EXIT	—	—	-16.7%
SHW\|Sherwin-Williams	SELL	EXIT	—	—	-17.1%
LVMUY\|LVMH Moet Hennessy Louis Vuitt	SELL	EXIT	—	—	-4.1%
2021-Q4
BRK-A\|Berkshire Hathaway Inc Cl A	SELL	-2.23%	3.0K	$1.3B	—
NSRGY\|Nestle SA-Spons ADR	SELL	-2.74%	9.3M	$1.3B	—
MA\|Mastercard Inc Cl A	SELL	-3.09%	3.1M	$1.1B	+102.0%
GOOG\|Alphabet Inc Cl C	SELL	-5.39%	363.0K	$1.1B	+136.0%
Compagnie Financiere Richemont	SELL	-2.37%	6.1M	$916M	—
Pernod Ricard	SELL	-5.05%	3.1M	$753M	—
HKHHY\|Heineken Holding NV	BUY	+5.72%	7.7M	$714M	—
4I1\|Philip Morris International In	SELL	-3.62%	7.2M	$688M	—
BRK-B\|Berkshire Hathaway Inc Cl B	SELL	-3.88%	1.8M	$546M	—
MLM\|Martin Marietta Materials	SELL	-1.98%	1.2M	$515M	—
UL\|Unilever PLC ADR	SELL	-9.70%	8.5M	$457M	-12.3%
JPM\|J.P. Morgan Chase	SELL	-6.80%	2.3M	$371M	+24.6%
BUD\|Anheuser-Busch InBev SA	SELL	-83.58%	838.8K	$51M	-46.2%
CMCSA\|Comcast Corp New Cl A	SELL	-3.04%	5.0M	$253M	+29.7%
BABA\|Alibaba Group Hldg Ltd Sponsor	SELL	-2.04%	1.6M	$186M	-37.7%
ASHGY\|Ashtead Group PLC	SELL	-1.25%	2.5M	$198M	+60.2%
BF-A\|Brown-Forman Corp Cl A	SELL	-2.44%	2.8M	$190M	—
CABO\|Cable One Inc	BUY	+3.52%	90.8K	$160M	—
V\|Visa Inc Cl A	SELL	-5.12%	382.2K	$83M	+71.2%
BF-A\|Brown-Forman Corp Cl B	SELL	-3.55%	1.1M	$80M	—
WFC\|Wells Fargo	SELL	-2.44%	1.0M	$50M	—
MO\|Altria Group Inc	BUY	+0.47%	331.2K	$16M	—
CFR\|Compagnie Financiere Richemont	SELL	-1.89%	13.8M	$15M	+53.1%
VMC\|Vulcan Materials	SELL	-2.48%	67.0K	$14M	—
Davide Campari-Milano NV	SELL	-0.07%	878.8K	$13M	—
Swedish Match AB	SELL	-0.37%	1.3M	$11M	—
XOM\|Exxon Mobil Corp	BUY	+0.61%	179.1K	$11M	—
MKL\|Markel Corp	SELL	-1.14%	6.5K	$8M	—
CR\|Crane	SELL	-3.47%	75.1K	$8M	—
OUT\|Outfront Media Inc	SELL	-4.36%	284.3K	$8M	+21.4%
AXP\|American Express	SELL	-3.69%	41.1K	$7M	—
HRL\|Hormel Foods Corp	SELL	-1.27%	139.0K	$7M	—
PG\|Procter & Gamble	SELL	-11.83%	37.8K	$6M	—
Carlsberg B A/S	SELL	-2.82%	34.4K	$6M	—
DOV\|Dover Corp	SELL	-2.25%	30.5K	$6M	—
MKC\|McCormick Inc	SELL	-1.24%	47.8K	$5M	—
UNP\|Union Pac Corp	BUY	+0.43%	18.3K	$5M	—
Heineken NV	SELL	-2.74%	39.1K	$4M	—
PEP\|Pepsico Inc	SELL	-4.36%	21.8K	$4M	—
BUD\|Anheuser-Busch InBev SA Restri	SELL	EXIT	—	—	—
PNC\|PNC Bank Corp	SELL	-17.81%	12.2K	$2M	—
CFRUY\|Compagnie Financiere Richemont	BUY	+1.25%	171.7K	$3M	—
UL\|Unilever PLC	SELL	-4.86%	44.0K	$2M	-12.3%
PRNDY\|Pernod-Ricard SA-Unspon ADR	BUY	+1.95%	48.8K	$2M	—
SWZ\|Swiss Helvetia FD Inc	BUY	+1.69%	234.8K	$2M	—
MLKN\|MillerKnoll Inc	SELL	-4.08%	58.8K	$2M	—
DANOY\|Danone ADR	SELL	-3.56%	133.5K	$2M	—
FMX\|Fomento Economico Mex Sp ADR	SELL	-5.21%	20.3K	$2M	—
HEINY\|Heineken NV Spons ADR	BUY	+0.32%	29.6K	$2M	—
DD\|Dupont De Nemours Inc	BUY	+0.37%	18.1K	$1M	—
FULT\|Fulton Finl Corp	SELL	-0.20%	74.7K	$1M	—
KO\|Coca-Cola	SELL	-5.61%	21.4K	$1M	—
MSFT\|Microsoft Corp	SELL	-5.66%	3.4K	$1M	—
AAPL\|Apple Inc	SELL	-2.41%	6.5K	$1M	—
DOW\|Dow Inc	BUY	+1.24%	19.4K	$1M	—
DIS\|Disney Walt Productions	BUY	+0.57%	5.3K	$814000	—
GHC\|Graham Holdings Co	BUY	+0.26%	1.2K	$727000	—
HKHHY\|Heineken Holding NV ADR	BUY	+25.84%	14.0K	$646000	—
TFC\|Truist Financial Corp	BUY	+0.41%	10.7K	$626000	—
WMT\|Wal Mart Stores Inc	SELL	-22.32%	3.5K	$504000	—
CHV\|Chevron Corp	BUY	+0.34%	4.8K	$559000	—
MCD\|McDonalds Corp	SELL	-10.96%	2.0K	$544000	—
Reckitt Benckiser Group PLC	SELL	-13.61%	5.6K	$477000	—
CTVA\|Corteva Inc	BUY	+0.29%	9.1K	$428000	—
MRK\|Merck Inc	BUY	+0.26%	3.9K	$298000	—
BUD\|Anheuser-Busch InBev ADR	SELL	EXIT	—	—	-11.4%
SBUX\|Starbucks Corp	BUY	NEW	1.8K	$208000	—
SHW\|Sherwin-Williams	BUY	NEW	585	$206000	—
LVMUY\|LVMH Moet Hennessy Louis Vuitt	BUY	NEW	1.2K	$203000	—
DVCMY\|Davide Campari-Milano ADR	BUY	+18.95%	13.7K	$200000	—
2021-Q3
BRK-A\|Berkshire Hathaway Inc Cl A	SELL	-3.21%	3.0K	$1.3B	—
MA\|Mastercard Inc Cl A	SELL	-7.40%	3.2M	$1.1B	+111.1%
NSRGY\|Nestle SA-Spons ADR	SELL	-2.75%	9.5M	$1.1B	—
GOOG\|Alphabet Inc Cl C	SELL	-3.78%	383.7K	$1.0B	+123.1%
4I1\|Philip Morris International In	SELL	-4.90%	7.5M	$712M	—
Compagnie Financiere Richemont	SELL	-2.88%	6.2M	$652M	—
Pernod Ricard	SELL	-2.82%	3.3M	$729M	—
HKHHY\|Heineken Holding NV	SELL	-1.03%	7.3M	$638M	-7.2%
UL\|Unilever PLC ADR	SELL	-3.28%	9.4M	$510M	-6.5%
BRK-B\|Berkshire Hathaway Inc Cl B	SELL	-1.62%	1.9M	$519M	—
MLM\|Martin Marietta Materials	SELL	-3.52%	1.2M	$407M	—
JPM\|J.P. Morgan Chase	SELL	-9.78%	2.5M	$412M	+18.3%
BUD\|Anheuser-Busch InBev SA	SELL	-3.06%	5.1M	$291M	-43.6%
BABA\|Alibaba Group Hldg Ltd Spons A	BUY	+8.98%	1.6M	$236M	—
CMCSA\|Comcast Corp New Cl A	SELL	-3.25%	5.2M	$290M	+44.6%
BF-A\|Brown-Forman Corp Cl A	SELL	-1.09%	2.9M	$180M	—
ASHGY\|Ashtead Group PLC	SELL	-2.26%	2.5M	$189M	+52.1%
CABO\|Cable One Inc	SELL	-2.36%	87.7K	$159M	-0.3%
V\|Visa Inc Cl A	SELL	-0.88%	402.8K	$90M	+88.0%
BF-A\|Brown-Forman Corp Cl B	SELL	-5.91%	1.1M	$76M	—
WFC\|Wells Fargo	SELL	-6.22%	1.1M	$50M	—
MO\|Altria Group Inc	BUY	+0.35%	329.6K	$15M	—
Davide Campari-Milano NV	SELL	-0.30%	879.4K	$12M	—
VMC\|Vulcan Materials	SELL	-0.23%	68.7K	$12M	—
Swedish Match AB	SELL	-0.45%	1.4M	$12M	—
XOM\|Exxon Mobil Corp	BUY	+0.73%	178.0K	$10M	—
CFR\|Compagnie Financiere Richemont	SELL	-2.29%	14.1M	$7M	+33.7%
MKL\|Markel Corp	SELL	-1.49%	6.6K	$8M	—
CR\|Crane	SELL	-6.10%	77.8K	$7M	—
OUT\|Outfront Media Inc	SELL	-2.69%	297.3K	$7M	+11.8%
AXP\|American Express	SELL	-2.59%	42.7K	$7M	—
HRL\|Hormel Foods Corp	SELL	-1.53%	140.8K	$6M	—
PG\|Procter & Gamble	BUY	+0.66%	42.8K	$6M	—
Carlsberg B A/S	BUY	+58.71%	35.4K	$6M	—
DOV\|Dover Corp	SELL	-8.69%	31.2K	$5M	—
MKC\|McCormick Inc	SELL	-0.15%	48.4K	$4M	—
UNP\|Union Pac Corp	BUY	+6.33%	18.2K	$4M	—
PEP\|Pepsico Inc	SELL	-0.48%	22.7K	$3M	—
Loreal SA	SELL	-3.92%	6.7K	$3M	—
MLKN\|MillerKnoll Inc	SELL	-0.97%	61.3K	$2M	—
PNC\|PNC Bank Corp	SELL	-0.52%	14.8K	$3M	—
GOOGL\|Alphabet Inc Cl A	SELL	-6.31%	994	$3M	+146.1%
EVF\|Eaton Vance Sr Income TR SF	SELL	EXIT	—	—	+10.4%
COST\|Costco Whsl Corp	BUY	+1.86%	5.3K	$2M	—
Lindt & Spruengli AG - Reg	SELL	-5.00%	19	$2M	—
SWZ\|Swiss Helvetia FD Inc	BUY	+1.50%	230.9K	$2M	—
PRNDY\|Pernod-Ricard SA-Unspon ADR	BUY	NEW	47.9K	$2M	—
DANOY\|Danone ADR	SELL	-7.07%	138.5K	$2M	—
FMX\|Fomento Economico Mex Sp ADR	SELL	-6.34%	21.4K	$2M	—
CFRUY\|Compagnie Financiere Richemont	BUY	+31.02%	169.6K	$2M	—
Pernod-Ricard SA-Unspon ADR	SELL	EXIT	—	—	—
HEINY\|Heineken NV Spons ADR	BUY	+57.12%	29.5K	$2M	—
ABT\|Abbott Labs	BUY	+2.51%	12.3K	$1M	—
ABBV\|AbbVie Inc	BUY	+2.38%	12.9K	$1M	—
DD\|Dupont De Nemours Inc	BUY	+0.41%	18.0K	$1M	—
DOW\|Dow Inc	BUY	+1.10%	19.2K	$1M	—
FULT\|Fulton Finl Corp	BUY	+0.56%	74.8K	$1M	—
DEO\|Diageo PLC	SELL	-12.41%	19.4K	$943000	+40.6%
MSFT\|Microsoft Corp	BUY	+1.50%	3.7K	$1M	—
AAPL\|Apple Computer Inc	BUY	+4.68%	6.6K	$940000	—
GHC\|Graham Holdings Co	BUY	+0.17%	1.2K	$678000	—
TFC\|Truist Financial Corp	BUY	+0.43%	10.6K	$624000	—
HKHHY\|Heineken Holding NV ADR	BUY	+3.49%	11.1K	$485000	—
CHV\|Chevron Corp	SELL	-1.70%	4.8K	$482000	—
LT Group Inc	BUY	+16.39%	1.8M	$351000	—
CTVA\|Corteva Inc	BUY	+0.30%	9.0K	$380000	—
Hanjaya Mandala Sampoerna	BUY	+400.00%	5.0M	$360000	—
MRK\|Merck Inc	BUY	+0.26%	3.9K	$291000	—
2021-Q2
BRK-A\|Berkshire Hathaway Inc Cl A	SELL	-3.38%	3.1K	$1.3B	—
MA\|Mastercard Inc Cl A	SELL	-4.65%	3.4M	$1.2B	+114.3%
NSRGY\|Nestle SA-Spons ADR	SELL	-2.41%	9.8M	$1.2B	—
GOOG\|Alphabet Inc Cl C	SELL	-4.79%	398.7K	$999M	+92.4%
4I1\|Philip Morris International In	SELL	-2.55%	7.9M	$783M	—
Compagnie Financiere Richemont	SELL	-3.39%	6.4M	$778M	—
Pernod Ricard	SELL	-3.01%	3.4M	$753M	—
HKHHY\|Heineken Holding NV	SELL	-2.87%	7.4M	$745M	-0.2%
UL\|Unilever PLC ADR	SELL	-3.00%	9.7M	$569M	-1.1%
BRK-B\|Berkshire Hathaway Inc Cl B	SELL	-2.69%	1.9M	$537M	—
JPM\|J.P. Morgan Chase	SELL	-9.47%	2.8M	$434M	+17.3%
MLM\|Martin Marietta Materials	SELL	-2.74%	1.2M	$435M	—
BUD\|Anheuser-Busch InBev SA	SELL	-4.56%	5.3M	$380M	-31.2%
BABA\|Alibaba Group Hldg Ltd Spons A	BUY	+30.69%	1.5M	$332M	—
CMCSA\|Comcast Corp New Cl A	SELL	-3.03%	5.4M	$306M	+39.6%
BF-A\|Brown-Forman Corp Cl A	SELL	-2.74%	2.9M	$204M	—
ASHGY\|Ashtead Group PLC	BUY	+0.72%	2.5M	$188M	—
CABO\|Cable One Inc	BUY	+15.69%	89.9K	$172M	—
V\|Visa Inc Cl A	SELL	-2.10%	406.4K	$95M	+83.8%
BF-A\|Brown-Forman Corp Cl B	BUY	+0.68%	1.2M	$90M	—
WFC\|Wells Fargo	SELL	-2.97%	1.1M	$52M	—
MO\|Altria Group Inc	SELL	-2.71%	328.5K	$16M	-24.4%
VMC\|Vulcan Materials	BUY	+1.94%	68.8K	$12M	—
Davide Campari-Milano NV	SELL	-1.25%	882.1K	$12M	—
Swedish Match AB	BUY	NEW	1.4M	$12M	—
XOM\|Exxon Mobil Corp	BUY	+0.39%	176.7K	$11M	—
Swedish Match AB	SELL	EXIT	—	—	—
CFR\|Compagnie Financiere Richemont	SELL	-1.88%	14.4M	$10M	+40.0%
MKL\|Markel Corp	SELL	-0.15%	6.7K	$8M	—
CR\|Crane	SELL	-0.89%	82.8K	$8M	—
OUT\|Outfront Media Inc	SELL	-0.84%	305.5K	$7M	+10.2%
AXP\|American Express	SELL	-1.76%	43.8K	$7M	—
HRL\|Hormel Foods Corp	SELL	-0.03%	143.0K	$7M	—
PG\|Procter & Gamble	SELL	-0.09%	42.5K	$6M	—
DOV\|Dover Corp	SELL	-1.59%	34.1K	$5M	—
MKC\|McCormick Inc	SELL	-3.00%	48.5K	$4M	—
Carlsberg B A/S	BUY	+2.20%	22.3K	$4M	—
UNP\|Union Pac Corp	BUY	+0.44%	17.1K	$4M	—
PEP\|Pepsico Inc	SELL	-0.84%	22.9K	$3M	—
Loreal SA	SELL	-4.68%	7.0K	$3M	—
MLKN\|Herman Miller Inc	SELL	-10.29%	61.9K	$3M	—
GOOGL\|Alphabet Inc Cl A	SELL	-1.49%	1.1K	$3M	+110.7%
EVF\|Eaton Vance Sr Income TR SF	BUY	+5.12%	379.4K	$3M	—
SWZ\|Swiss Helvetia FD Inc	BUY	+1.40%	227.5K	$2M	—
DANOY\|Danone ADR	SELL	-3.84%	149.0K	$2M	—
COST\|Costco Whsl Corp	SELL	-2.38%	5.2K	$2M	+92.4%
FMX\|Fomento Economico Mex Sp ADR	SELL	-3.22%	22.9K	$2M	—
Pernod-Ricard SA-Unspon ADR	BUY	+6.75%	37.4K	$2M	—
CFRUY\|Compagnie Financiere Richemont	BUY	+1.66%	129.4K	$2M	—
DD\|Dupont De Nemours Inc	BUY	+0.35%	18.0K	$1M	—
KO\|Coca-Cola	SELL	-2.65%	22.7K	$1M	—
DOW\|Dow Inc	BUY	+0.98%	19.0K	$1M	—
HEINY\|Heineken NV Spons ADR	BUY	+11.35%	18.7K	$1M	—
LVMH Moet Hennessy Louis Vuitt	SELL	-2.00%	1.4K	$1M	—
DEO\|Diageo PLC	SELL	-3.06%	22.2K	$1M	+38.2%
MSFT\|Microsoft Corp	BUY	+0.70%	3.6K	$976000	—
DIS\|Disney Walt Productions	BUY	+0.38%	5.2K	$918000	—
GHC\|Graham Holdings Co	BUY	+0.26%	1.1K	$728000	—
CTVA\|Corteva Inc	SELL	-41.77%	9.0K	$399000	+68.8%
TFC\|Truist Financial Corp	BUY	+0.39%	10.6K	$588000	—
Reckitt Benckiser Group PLC	SELL	-3.60%	6.4K	$568000	—
CHV\|Chevron Corp	BUY	+0.33%	4.8K	$506000	—
PXDEUR\|Pioneer Nat Res	SELL	-4.00%	2.4K	$390000	—
MRK\|Merck Inc	BUY	+0.26%	3.9K	$301000	—
NKE\|Nike Inc - Cl B	BUY	NEW	1.5K	$238000	—
CC\|Chemours Co	SELL	EXIT	—	—	+45.0%
Hostess Brands Inc Wts Exp 11/	SELL	EXIT	—	—	—
Bollore	SELL	EXIT	—	—	—
2021-Q1
MA\|Mastercard Inc Cl A	SELL	-17.46%	3.6M	$1.3B	+102.5%
BRK-A\|Berkshire Hathaway Inc Cl A	SELL	-4.80%	3.3K	$1.3B	—
NSRGY\|Nestle SA-Spons ADR	SELL	-3.82%	10.0M	$1.1B	—
GOOG\|Alphabet Inc Cl C	SELL	-3.10%	418.8K	$866M	+65.3%
HKHHY\|Heineken Holding NV	SELL	-3.74%	7.6M	$679M	-9.5%
Pernod Ricard	SELL	-10.01%	3.5M	$658M	—
4I1\|Philip Morris International In	SELL	-3.56%	8.1M	$719M	—
UL\|Unilever PLC ADR	SELL	-10.04%	10.0M	$560M	-7.4%
Compagnie Financiere Richemont	SELL	-5.06%	6.7M	$641M	—
BRK-B\|Berkshire Hathaway Inc Cl B	SELL	-2.81%	2.0M	$507M	—
JPM\|J.P. Morgan Chase	SELL	-14.24%	3.1M	$469M	+9.1%
MLM\|Martin Marietta Materials	SELL	-8.98%	1.3M	$427M	—
BUD\|Anheuser-Busch InBev SA	SELL	-6.36%	5.5M	$349M	-40.9%
CMCSA\|Comcast Corp New Cl A	SELL	-3.21%	5.5M	$299M	+30.6%
BABA\|Alibaba Group Hldg Ltd Spons A	BUY	NEW	1.1M	$254M	—
BF-A\|Brown-Forman Corp Cl A	SELL	-2.88%	3.0M	$190M	—
ASHGY\|Ashtead Group PLC	BUY	+365.35%	2.5M	$151M	—
CABO\|Cable One Inc	BUY	+120.37%	77.7K	$142M	—
BF-A\|Brown-Forman Corp Cl B	SELL	-5.06%	1.2M	$82M	—
V\|Visa Inc Cl A	SELL	-7.80%	415.1K	$88M	+68.0%
WFC\|Wells Fargo	SELL	-20.05%	1.2M	$46M	—
MO\|Altria Group Inc	SELL	-6.15%	337.6K	$17M	-33.4%
Swedish Match AB	SELL	-9.59%	138.2K	$11M	—
VMC\|Vulcan Materials	SELL	-1.27%	67.5K	$11M	—
Davide Campari-Milano NV	SELL	-3.72%	893.2K	$10M	—
DGED\|Diageo PLC Sponsored ADR	SELL	EXIT	—	—	—
XOM\|Exxon Mobil Corp	BUY	+0.32%	176.0K	$10M	—
AXP\|American Express	SELL	-32.44%	44.6K	$6M	—
CR\|Crane	SELL	-7.66%	83.6K	$8M	—
MKL\|Markel Corp	SELL	-0.89%	6.7K	$8M	—
HRL\|Hormel Foods Corp	SELL	-0.73%	143.0K	$7M	—
OUT\|Outfront Media Inc	SELL	-3.83%	308.1K	$7M	-1.4%
PG\|Procter & Gamble	BUY	+14.00%	42.6K	$6M	—
CFR\|Compagnie Financiere Richemont	BUY	+3.83%	14.7M	$6M	—
MKC\|McCormick Inc	SELL	-2.90%	50.0K	$4M	—
DOV\|Dover Corp	SELL	-5.59%	34.7K	$5M	—
MLKN\|Herman Miller Inc	SELL	-49.64%	69.0K	$3M	—
Heineken NV	SELL	-1.04%	40.2K	$4M	—
UNP\|Union Pac Corp	BUY	+0.40%	17.0K	$4M	—
Carlsberg B A/S	SELL	-0.89%	21.8K	$3M	—
PEP\|Pepsico Inc	SELL	-2.18%	23.0K	$3M	—
Loreal SA	SELL	-15.45%	7.4K	$3M	—
FMX\|Fomento Economico Mex Sp ADR	SELL	-41.88%	23.6K	$2M	—
PNC\|PNC Bank Corp	SELL	-0.17%	14.9K	$3M	—
KO\|Coca-Cola	SELL	-50.71%	23.3K	$1M	—
Lindt & Spruengli AG - Reg	SELL	-20.00%	20	$2M	—
EVF\|Eaton Vance Sr Income TR SF	BUY	+10.24%	361.0K	$2M	—
GOOGL\|Alphabet Inc Cl A	SELL	-12.51%	1.1K	$2M	+83.0%
DANOY\|Danone ADR	SELL	-7.45%	154.9K	$2M	—
COST\|Costco Whsl Corp	SELL	-1.87%	5.3K	$2M	+79.0%
SWZ\|Swiss Helvetia FD Inc	BUY	+1.55%	224.3K	$2M	—
DD\|Dupont De Nemours Inc	SELL	-1.32%	17.9K	$1M	+10.4%
Pernod-Ricard SA-Unspon ADR	SELL	-2.07%	35.0K	$1M	—
FULT\|Fulton Finl Corp	SELL	-0.33%	74.4K	$1M	—
DEO\|Diageo PLC	SELL	-27.11%	22.9K	$943000	+19.7%
CFRUY\|Compagnie Financiere Richemont	SELL	-0.56%	127.3K	$1M	—
DOW\|Dow Inc	SELL	-1.09%	18.8K	$1M	+19.6%
AAPL\|Apple Computer Inc	SELL	-27.43%	6.3K	$775000	—
Reckitt Benckiser Group PLC	SELL	-45.14%	6.7K	$598000	—
LVMH Moet Hennessy Louis Vuitt	SELL	-15.38%	1.4K	$937000	—
HEINY\|Heineken NV Spons ADR	SELL	-7.04%	16.8K	$867000	—
MSFT\|Microsoft Corp	SELL	-1.38%	3.6K	$843000	—
LAMR\|Lamar Advertising Co-A	SELL	-1.11%	8.0K	$755000	—
CTVA\|Corteva Inc	SELL	-2.33%	15.5K	$721000	+63.3%
CHV\|Chevron Corp	SELL	-41.71%	4.8K	$505000	—
GHC\|Graham Holdings Co	SELL	-1.46%	1.1K	$645000	+67.1%
TFC\|Truist Financial Corp	BUY	+0.39%	10.6K	$616000	—
MTB\|M & T Bk Corp	SELL	EXIT	—	—	-8.7%
HKHHY\|Heineken Holding NV ADR	BUY	+4.37%	10.8K	$479000	—
MRK\|Merck Inc	SELL	-2.18%	3.9K	$297000	+1.8%
DHR\|Danaher Corp	SELL	-11.25%	1.2K	$266000	+39.9%
RDS/A\|Royal Dutch Shell PLC ADR A	SELL	EXIT	—	—	—
CC\|Chemours Co	BUY	+0.92%	8.3K	$232000	—
NKE\|Nike Inc - Cl B	SELL	EXIT	—	—	+31.0%
Hostess Brands Inc Wts Exp 11/	SELL	-40.74%	80.0K	$116000	—
YUSD\|Alleghany Corp	BUY	NEW	324	$203000	—
2020-Q4
MA\|Mastercard Inc Cl A	SELL	-11.48%	4.3M	$1.5B	+95.2%
NSRGY\|Nestle SA-Spons ADR	SELL	-5.99%	10.4M	$1.2B	—
BRK-A\|Berkshire Hathaway Inc Cl A	SELL	-4.04%	3.4K	$1.2B	—
GOOG\|Alphabet Inc Cl C	SELL	-0.66%	432.2K	$757M	+40.7%
HKHHY\|Heineken Holding NV	SELL	-4.52%	7.9M	$746M	-8.6%
Pernod Ricard	SELL	-8.75%	3.9M	$746M	—
UNUSD\|Unilever NV ADR	SELL	EXIT	—	—	—
4I1\|Philip Morris International In	BUY	+1.92%	8.4M	$696M	—
UL\|Unilever PLC ADR	BUY	NEW	11.2M	$673M	—
Compagnie Financiere Richemont	SELL	-5.15%	7.0M	$635M	—
BRK-B\|Berkshire Hathaway Inc Cl B	SELL	-3.50%	2.0M	$474M	—
JPM\|J.P. Morgan Chase	SELL	-4.91%	3.6M	$456M	-13.2%
BUD\|Anheuser-Busch InBev SA	SELL	-3.43%	5.9M	$411M	-39.3%
MLM\|Martin Marietta Materials	SELL	-7.00%	1.4M	$396M	—
CMCSA\|Comcast Corp New Cl A	BUY	+15.43%	5.7M	$299M	—
BF-A\|Brown-Forman Corp Cl A	SELL	-7.13%	3.1M	$226M	—
BF-A\|Brown-Forman Corp Cl B	SELL	-4.72%	1.3M	$100M	—
V\|Visa Inc Cl A	SELL	-4.81%	450.2K	$98M	+66.3%
CABO\|Cable One Inc	BUY	NEW	35.2K	$79M	—
WFC\|Wells Fargo	SELL	-6.80%	1.5M	$45M	—
DGED\|Diageo PLC Sponsored ADR	SELL	-65.47%	65.8K	$10M	—
ASHGY\|Ashtead Group PLC	BUY	+61.98%	542.6K	$26M	—
MO\|Altria Group Inc	SELL	-2.63%	359.7K	$15M	-38.6%
Swedish Match AB	SELL	-1.24%	152.8K	$12M	—
Davide Campari-Milano NV	BUY	+5.75%	927.7K	$11M	—
VMC\|Vulcan Materials	BUY	+3.15%	68.4K	$10M	—
AXP\|American Express	SELL	-17.43%	66.0K	$8M	—
XOM\|Exxon Mobil Corp	SELL	-1.62%	175.4K	$7M	-48.0%
HRL\|Hormel Foods Corp	SELL	-0.07%	144.1K	$7M	—
CR\|Crane	SELL	-2.30%	90.5K	$7M	—
MKL\|Markel Corp	SELL	-4.98%	6.8K	$7M	—
OUT\|Outfront Media Inc	BUY	+1.51%	320.4K	$6M	—
PG\|Procter & Gamble	SELL	-4.54%	37.4K	$5M	—
MKC\|McCormick Inc	BUY	+92.34%	51.5K	$5M	—
Nestle SA-REG	BUY	+0.28%	42.4K	$5M	—
DOV\|Dover Corp	SELL	-6.20%	36.7K	$5M	—
MLKN\|Herman Miller Inc	SELL	-4.00%	137.1K	$5M	—
CFR\|Compagnie Financiere Richemont	BUY	NEW	14.1M	$4M	—
UNP\|Union Pac Corp	BUY	+0.43%	16.9K	$4M	—
Carlsberg B A/S	BUY	+214.55%	22.0K	$4M	—
PEP\|Pepsico Inc	SELL	-0.42%	23.6K	$3M	—
Loreal SA	BUY	+32.57%	8.7K	$3M	—
FMX\|Fomento Economico Mex Sp ADR	SELL	-15.91%	40.6K	$3M	—
UL\|Unilever PLC	BUY	NEW	46.2K	$3M	—
UL\|Unilever NV	SELL	EXIT	—	—	-0.4%
KO\|Coca-Cola	SELL	-10.14%	47.3K	$3M	—
DANOY\|Danone ADR	SELL	-9.66%	167.4K	$2M	—
PNC\|PNC Bank Corp	SELL	-12.07%	14.9K	$2M	—
GOOGL\|Alphabet Inc Cl A	SELL	-7.72%	1.2K	$2M	+56.3%
EVF\|Eaton Vance Sr Income TR SF	BUY	NEW	327.4K	$2M	—
COST\|Costco Whsl Corp	BUY	+0.04%	5.4K	$2M	—
SWZ\|Swiss Helvetia FD Inc	BUY	+1.55%	220.9K	$2M	—
Pernod-Ricard SA-Unspon ADR	SELL	-26.37%	35.8K	$1M	—
HEINY\|Heineken NV Spons ADR	SELL	-41.81%	18.1K	$1M	—
Reckitt Benckiser Group PLC	SELL	-9.80%	12.2K	$1M	—
DD\|Dupont De Nemours Inc	BUY	+0.43%	18.1K	$1M	—
DEO\|Diageo PLC	SELL	-5.24%	31.4K	$1M	+13.6%
AAPL\|Apple Computer Inc	SELL	-3.32%	8.7K	$1M	—
CFRUY\|Compagnie Financiere Richemont	SELL	-24.86%	128.0K	$1M	—
FULT\|Fulton Finl Corp	SELL	-36.28%	74.7K	$950000	—
DOW\|Dow Inc	BUY	+1.21%	19.0K	$1M	—
LVMH Moet Hennessy Louis Vuitt	SELL	-4.88%	1.7K	$1M	—
DIS\|Disney Walt Productions	SELL	-0.02%	5.2K	$943000	—
MSFT\|Microsoft Corp	BUY	+5.28%	3.6K	$807000	—
CHV\|Chevron Corp	SELL	-7.87%	8.3K	$698000	—
JC Decaux SA ACT	SELL	-72.73%	10.5K	$239000	—
WMT\|Wal Mart Stores Inc	SELL	-2.18%	4.5K	$646000	—
GHC\|Graham Holdings Co	BUY	+0.35%	1.2K	$620000	—
CTVA\|Corteva Inc	BUY	+0.32%	15.8K	$613000	—
MTB\|M & T Bk Corp	BUY	+0.86%	4.5K	$579000	—
MCD\|McDonalds Corp	SELL	-2.77%	2.3K	$489000	—
TFC\|Truist Financial Corp	BUY	+0.49%	10.5K	$504000	—
HKHHY\|Heineken Holding NV ADR	BUY	+52.64%	10.3K	$486000	—
MRK\|Merck Inc	BUY	+0.23%	3.9K	$323000	—
BUD\|Anheuser-Busch InBev ADR	BUY	NEW	4.0K	$278000	—
RDS/A\|Royal Dutch Shell PLC ADR A	SELL	-25.46%	6.8K	$240000	—
Hostess Brands Inc Wts Exp 11/	SELL	-37.21%	135.0K	$215000	—
KHC\|Kraft Heinz Co	BUY	NEW	6.0K	$208000	—
CC\|Chemours Co	BUY	NEW	8.2K	$204000	—
DVCMY\|Davide Campari-Milano ADR	BUY	NEW	11.5K	$131000	—
2020-Q3
MA\|Mastercard Inc Cl A	SELL	-9.54%	4.9M	$1.7B	+90.9%
NSRGY\|Nestle SA-Spons ADR	SELL	-3.89%	11.1M	$1.3B	—
BRK-A\|Berkshire Hathaway Inc Cl A	SELL	-1.38%	3.6K	$1.1B	—
UNUSD\|Unilever NV ADR	SELL	-3.39%	11.7M	$705M	—
Pernod Ricard	SELL	-3.83%	4.3M	$680M	—
HKHHY\|Heineken Holding NV	SELL	-2.37%	8.3M	$646M	-18.5%
GOOG\|Alphabet Inc Cl C	BUY	+3.40%	435.0K	$639M	—
4I1\|Philip Morris International In	SELL	-0.02%	8.2M	$619M	—
Compagnie Financiere Richemont	SELL	-5.00%	7.4M	$496M	—
BRK-B\|Berkshire Hathaway Inc Cl B	BUY	+3.77%	2.1M	$451M	—
JPM\|J.P. Morgan Chase	BUY	+4.35%	3.8M	$364M	—
MLM\|Martin Marietta Materials	SELL	-4.03%	1.5M	$353M	—
BUD\|Anheuser-Busch InBev SA	BUY	+1.95%	6.1M	$331M	—
CMCSA\|Comcast Corp New Cl A	SELL	-4.38%	5.0M	$229M	+10.1%
BF-A\|Brown-Forman Corp Cl A	SELL	-4.06%	3.3M	$227M	—
DEO\|Diageo PLC	SELL	-99.31%	33.1K	$1M	+0.1%
BF-A\|Brown-Forman Corp Cl B	SELL	-7.73%	1.3M	$100M	—
V\|Visa Inc Cl A	SELL	-2.45%	472.9K	$95M	+59.2%
WFC\|Wells Fargo	SELL	-0.77%	1.6M	$37M	—
DGED\|Diageo PLC Sponsored ADR	SELL	-14.41%	190.5K	$26M	—
MO\|Altria Group Inc	SELL	-2.38%	369.5K	$14M	-36.3%
Swedish Match AB	SELL	-10.18%	154.8K	$13M	—
ASHGY\|Ashtead Group PLC	BUY	NEW	335.0K	$12M	—
AXP\|American Express	SELL	-28.38%	79.9K	$8M	—
Davide Campari-Milano NV	BUY	+0.83%	877.3K	$10M	—
VMC\|Vulcan Materials	SELL	-0.56%	66.3K	$9M	—
XOM\|Exxon Mobil Corp	SELL	-0.30%	178.3K	$6M	-40.5%
HRL\|Hormel Foods Corp	SELL	-0.35%	144.2K	$7M	—
CR\|Crane	SELL	-3.29%	92.6K	$5M	—
PG\|Procter & Gamble	SELL	-0.16%	39.1K	$5M	—
MKC\|McCormick Inc	SELL	-0.19%	26.8K	$5M	—
OUT\|Outfront Media Inc	SELL	-1.01%	315.6K	$5M	-29.9%
MLKN\|Herman Miller Inc	SELL	-8.91%	142.8K	$4M	—
DOV\|Dover Corp	SELL	-2.43%	39.2K	$4M	—
UNP\|Union Pac Corp	BUY	+0.44%	16.9K	$3M	—
PEP\|Pepsico Inc	SELL	-0.05%	23.7K	$3M	—
FMX\|Fomento Economico Mex Sp ADR	SELL	-4.29%	48.3K	$3M	—
UL\|Unilever NV	BUY	+18.59%	46.2K	$3M	—
DANOY\|Danone ADR	SELL	-4.79%	185.3K	$2M	—
Loreal SA	SELL	-3.67%	6.6K	$2M	—
GOOGL\|Alphabet Inc Cl A	SELL	-8.82%	1.3K	$2M	+36.5%
COST\|Costco Whsl Corp	SELL	-0.48%	5.4K	$2M	+72.1%
SWZ\|Swiss Helvetia FD Inc	BUY	NEW	217.6K	$2M	—
HEINY\|Heineken NV Spons ADR	SELL	-15.06%	31.1K	$1M	—
EVF\|Eaton Vance Sr Income TR SF	SELL	EXIT	—	—	-10.1%
Pernod-Ricard SA-Unspon ADR	BUY	+1.25%	48.6K	$2M	—
Reckitt Benckiser Group PLC	SELL	-2.00%	13.5K	$1M	—
ABT\|Abbott Labs	BUY	+1.40%	12.0K	$1M	—
ABBV\|AbbVie Inc	BUY	+0.13%	12.6K	$1M	—
FULT\|Fulton Finl Corp	SELL	-0.08%	117.2K	$1M	—
BAC\|Bank Amer Corp	SELL	EXIT	—	—	—
CFRUY\|Compagnie Financiere Richemont	BUY	+6.35%	170.4K	$1M	—
JC Decaux SA ACT	SELL	-36.10%	38.5K	$667000	—
AAPL\|Apple Computer Inc	BUY	+344.62%	9.0K	$1M	—
DD\|Dupont De Nemours Inc	SELL	-3.53%	18.1K	$1M	-19.8%
Carlsberg B A/S	BUY	+19.41%	7.0K	$943000	—
DOW\|Dow Inc	BUY	+1.37%	18.8K	$883000	—
LVMH Moet Hennessy Louis Vuitt	SELL	-2.79%	1.7K	$816000	—
CHV\|Chevron Corp	SELL	-1.50%	9.0K	$646000	—
DIS\|Disney Walt Productions	BUY	+1.76%	5.2K	$646000	—
GHC\|Graham Holdings Co	SELL	-0.34%	1.2K	$468000	+17.5%
MTB\|M & T Bk Corp	BUY	+1.19%	4.5K	$415000	—
CTVA\|Corteva Inc	BUY	+0.41%	15.8K	$455000	—
TFC\|Truist Financial Corp	BUY	+0.59%	10.5K	$398000	—
MRK\|Merck Inc	BUY	+0.23%	3.9K	$326000	—
RDS/A\|Royal Dutch Shell PLC ADR A	SELL	-3.69%	9.1K	$230000	—
HKHHY\|Heineken Holding NV ADR	BUY	NEW	6.7K	$263000	—
Roche Holding AG	SELL	EXIT	—	—	—
Hostess Brands Inc Wts Exp 11/	SELL	-14.00%	215.0K	$176000	—
NKE\|Nike Inc - Cl B	BUY	NEW	1.6K	$203000	—
2020-Q2
MA\|Mastercard Inc Cl A	SELL	-9.54%	5.4M	$1.6B	+64.7%
NSRGY\|Nestle SA-Spons ADR	SELL	-6.67%	11.5M	$1.3B	—
BRK-A\|Berkshire Hathaway Inc Cl A	SELL	-4.34%	3.6K	$966M	—
Pernod Ricard	SELL	-6.93%	4.4M	$697M	—
HKHHY\|Heineken Holding NV	SELL	-4.02%	8.5M	$694M	-24.1%
UNUSD\|Unilever NV ADR	SELL	-2.05%	12.1M	$643M	—
4I1\|Philip Morris International In	SELL	-3.39%	8.3M	$578M	—
GOOG\|Alphabet Inc Cl C	BUY	+6.85%	420.7K	$595M	—
Compagnie Financiere Richemont	SELL	-6.95%	7.8M	$496M	—
BRK-B\|Berkshire Hathaway Inc Cl B	SELL	-4.04%	2.0M	$364M	—
BUD\|Anheuser-Busch InBev SA	SELL	-24.09%	6.0M	$295M	-57.4%
JPM\|J.P. Morgan Chase	SELL	-5.60%	3.6M	$340M	-29.6%
MLM\|Martin Marietta Materials	SELL	-5.21%	1.6M	$323M	—
The Swatch Group AG-BR	SELL	EXIT	—	—	—
CMCSA\|Comcast Corp New Cl A	SELL	-7.73%	5.2M	$202M	-3.1%
BF-A\|Brown-Forman Corp Cl A	SELL	-6.46%	3.4M	$198M	—
DEO\|Diageo PLC	SELL	-9.07%	4.8M	$159M	+0.5%
JC Decaux SA ACT	SELL	-99.02%	60.2K	$1M	—
V\|Visa Inc Cl A	SELL	-5.51%	484.8K	$94M	+47.9%
BF-A\|Brown-Forman Corp Cl B	SELL	-12.32%	1.4M	$91M	—
WFC\|Wells Fargo	BUY	+6.61%	1.6M	$41M	—
DGED\|Diageo PLC Sponsored ADR	SELL	-2.13%	222.6K	$30M	—
MO\|Altria Group Inc	BUY	+1.18%	378.5K	$15M	—
Swedish Match AB	SELL	-5.41%	172.3K	$12M	—
AXP\|American Express	SELL	-8.30%	111.5K	$11M	—
XOM\|Exxon Mobil Corp	BUY	+22.44%	178.9K	$8M	—
VMC\|Vulcan Materials	SELL	-6.40%	66.7K	$8M	—
Davide Campari-Milano NV	BUY	NEW	870.0K	$7M	—
HRL\|Hormel Foods Corp	SELL	-0.96%	144.7K	$7M	—
MKL\|Markel Corp	SELL	-4.04%	7.1K	$7M	—
FMX\|Fomento Economico Mex Sp ADR	SELL	-39.43%	50.5K	$3M	—
MKC\|McCormick Inc	SELL	-1.20%	26.8K	$5M	—
OUT\|Outfront Media Inc	SELL	-8.30%	318.8K	$5M	-32.7%
PG\|Procter & Gamble	BUY	+4.33%	39.2K	$5M	—
DOV\|Dover Corp	SELL	-2.26%	40.1K	$4M	—
DANOY\|Danone ADR	SELL	-34.94%	194.6K	$3M	—
MLKN\|Herman Miller Inc	SELL	-4.42%	156.7K	$4M	—
KO\|Coca-Cola	SELL	-33.83%	52.7K	$2M	—
PEP\|Pepsico Inc	BUY	+0.86%	23.7K	$3M	—
UNP\|Union Pac Corp	BUY	+994.59%	16.8K	$3M	—
BUD\|Anheuser-Busch InBev SA Restri	BUY	+4.50%	51.6K	$3M	—
Davide Campari-Milano SPA	SELL	EXIT	—	—	—
Loreal SA	BUY	+17.64%	6.8K	$2M	—
GOOGL\|Alphabet Inc Cl A	SELL	-16.30%	1.5K	$2M	+23.8%
HEINY\|Heineken NV Spons ADR	BUY	+21.54%	36.6K	$2M	—
COST\|Costco Whsl Corp	BUY	+7.76%	5.4K	$2M	—
EVF\|Eaton Vance Sr Income TR SF	SELL	-2.76%	306.4K	$2M	-22.3%
Pernod-Ricard SA-Unspon ADR	BUY	+7.83%	48.0K	$2M	—
Reckitt Benckiser Group PLC	SELL	-5.46%	13.8K	$1M	—
ABBV\|AbbVie Inc	BUY	+0.67%	12.6K	$1M	—
LVMH Moet Hennessy Louis Vuitt	SELL	-36.40%	1.8K	$786000	—
RDS/A\|Royal Dutch Shell PLC ADR A	SELL	-67.77%	9.5K	$310000	—
CFRUY\|Compagnie Financiere Richemont	BUY	+9.20%	160.2K	$1M	—
DD\|Dupont De Nemours Inc	BUY	+14.58%	18.7K	$994000	—
CHV\|Chevron Corp	BUY	+16.04%	9.1K	$813000	—
Carlsberg B A/S	BUY	NEW	5.9K	$774000	—
DOW\|Dow Inc	BUY	+19.27%	18.5K	$755000	—
MSFT\|Microsoft Corp	SELL	-4.17%	3.4K	$701000	—
DIS\|Disney Walt Productions	BUY	+18.82%	5.1K	$570000	—
WMT\|Wal Mart Stores Inc	SELL	-3.17%	4.6K	$549000	—
MTB\|M & T Bk Corp	BUY	+1.07%	4.5K	$464000	—
CTVA\|Corteva Inc	BUY	+9.80%	15.7K	$421000	—
GHC\|Graham Holdings Co	BUY	NEW	1.2K	$399000	—
TFC\|Truist Financial Corp	BUY	+0.59%	10.4K	$391000	—
SWGAY\|The Swatch Group AG ADR	SELL	EXIT	—	—	-31.8%
MRK\|Merck Inc	BUY	+42.71%	3.9K	$304000	—
ORLY\|O Reilly Automotive Inc	SELL	EXIT	—	—	+59.6%
CABO\|Cable One Inc	BUY	NEW	168	$298000	—
ASHGY\|Ashtead Group PLC	BUY	NEW	8.8K	$294000	—
Pargesa Holding AG - B	SELL	EXIT	—	—	—
PXDEUR\|Pioneer Nat Res	BUY	NEW	2.5K	$244000	—
DHR\|Danaher Corp	BUY	NEW	1.3K	$236000	—
ORCL\|Oracle Corp	BUY	NEW	4.0K	$221000	—
COTY\|Coty Inc-CL A	SELL	EXIT	—	—	—
2020-Q1
MA\|Mastercard Inc Cl A	SELL	-6.31%	6.0M	$1.4B	+79.9%
NSRGY\|Nestle SA-Spons ADR	SELL	-3.17%	12.4M	$1.3B	—
BRK-A\|Berkshire Hathaway Inc Cl A	SELL	-1.90%	3.8K	$1.0B	—
HKHHY\|Heineken Holding NV	SELL	-1.67%	8.8M	$678M	-3.0%
Pernod Ricard	SELL	-1.78%	4.8M	$676M	—
Compagnie Financiere Richemont	SELL	-17.76%	8.4M	$458M	—
4I1\|Philip Morris International In	SELL	-3.66%	8.5M	$623M	—
UNUSD\|Unilever NV ADR	SELL	-0.36%	12.3M	$602M	—
WFC\|Wells Fargo	SELL	-88.16%	1.5M	$43M	—
BUD\|Anheuser-Busch InBev SA	BUY	+4.16%	7.9M	$350M	—
BRK-B\|Berkshire Hathaway Inc Cl B	SELL	-3.71%	2.1M	$389M	—
MLM\|Martin Marietta Materials	SELL	-2.22%	1.6M	$312M	—
GOOG\|Alphabet Inc Cl C	BUY	+25.88%	393.8K	$458M	—
JPM\|J.P. Morgan Chase	BUY	NEW	3.8M	$345M	—
The Swatch Group AG-BR	SELL	-2.71%	1.0M	$203M	—
CMCSA\|Comcast Corp New Cl A	SELL	-2.90%	5.6M	$193M	+11.9%
BF-A\|Brown-Forman Corp Cl A	SELL	-1.46%	3.7M	$189M	—
DEO\|Diageo PLC	SELL	-2.48%	5.3M	$170M	+17.1%
JC Decaux SA ACT	SELL	-3.25%	6.1M	$111M	—
BF-A\|Brown-Forman Corp Cl B	SELL	-5.12%	1.6M	$91M	—
MO\|Altria Group Inc	SELL	-83.16%	374.0K	$14M	-30.4%
V\|Visa Inc Cl A	BUY	+3.66%	513.1K	$83M	—
DGED\|Diageo PLC Sponsored ADR	SELL	-2.15%	227.4K	$29M	—
AXP\|American Express	SELL	-7.76%	121.6K	$10M	—
Swedish Match AB	SELL	-6.96%	182.2K	$10M	—
XOM\|Exxon Mobil Corp	BUY	+0.01%	146.1K	$6M	—
FMX\|Fomento Economico Mex Sp ADR	SELL	-21.85%	83.4K	$5M	—
MKL\|Markel Corp	SELL	-1.33%	7.4K	$7M	—
OUT\|Outfront Media Inc	BUY	+9.67%	347.7K	$5M	—
CR\|Crane	SELL	-0.75%	95.8K	$5M	—
VMC\|Vulcan Materials	BUY	+25.67%	71.2K	$8M	—
MLKN\|Herman Miller Inc	SELL	-1.50%	164.0K	$4M	—
HRL\|Hormel Foods Corp	SELL	-3.14%	146.1K	$7M	—
DANOY\|Danone ADR	SELL	-10.63%	299.1K	$4M	—
KO\|Coca-Cola	SELL	-20.59%	79.6K	$4M	—
MKC\|McCormick Inc	SELL	-5.41%	27.1K	$4M	—
DOV\|Dover Corp	SELL	-2.38%	41.1K	$3M	—
PG\|Procter & Gamble	SELL	-1.21%	37.6K	$4M	—
PEP\|Pepsico Inc	SELL	-2.47%	23.5K	$3M	—
Davide Campari-Milano SPA	BUY	+425.17%	344.6K	$2M	—
GOOGL\|Alphabet Inc Cl A	SELL	-3.85%	1.7K	$2M	+27.8%
Lindt & Spruengli AG - Reg	SELL	-3.85%	25	$2M	—
EVF\|Eaton Vance Sr Income TR SF	BUY	+4.93%	315.1K	$1M	—
RDS/A\|Royal Dutch Shell PLC ADR A	SELL	-1.67%	29.5K	$1M	—
Reckitt Benckiser Group PLC	SELL	-24.14%	14.6K	$1M	—
HEINY\|Heineken NV Spons ADR	BUY	+5.29%	30.2K	$1M	—
Loreal SA	BUY	+17.77%	5.8K	$2M	—
COST\|Costco Whsl Corp	SELL	-2.63%	5.0K	$1M	+60.8%
Pernod-Ricard SA-Unspon ADR	BUY	+20.08%	44.5K	$1M	—
CFRUY\|CIE Financiere Richemont-Unsp	SELL	-8.28%	146.7K	$805000	—
ABBV\|AbbVie Inc	SELL	-2.34%	12.5K	$953000	—
ABT\|Abbott Labs	SELL	-2.48%	11.8K	$932000	—
LVMH Moet Hennessy Louis Vuitt	BUY	+418.20%	2.8K	$1M	—
CHV\|Chevron Corp	SELL	-9.25%	7.8K	$569000	—
BIC	SELL	EXIT	—	—	—
DD\|Dupont De Nemours Inc	BUY	+7.93%	16.3K	$557000	—
Pargesa Holding AG - B	SELL	-66.81%	3.8K	$254000	—
DOW\|Dow Inc	BUY	+2.25%	15.5K	$454000	—
MTB\|M & T Bk Corp	BUY	+1.05%	4.4K	$456000	—
MCD\|McDonalds Corp	SELL	-21.04%	2.3K	$388000	—
AAPL\|Apple Computer Inc	BUY	+2.01%	2.0K	$517000	—
MSFT\|Microsoft Corp	SELL	-2.71%	3.6K	$567000	—
TFC\|Truist Financial Corp	BUY	+0.47%	10.3K	$319000	—
WMT\|Wal Mart Stores Inc	SELL	-2.57%	4.7K	$537000	—
SWGAY\|The Swatch Group AG ADR	SELL	-9.28%	34.3K	$343000	-13.2%
PXDEUR\|Pioneer Nat Res	SELL	EXIT	—	—	—
CTVA\|Corteva Inc	BUY	+10.19%	14.3K	$336000	—
SWMAY\|Swedish Match AB Unspon ADR	SELL	EXIT	—	—	—
LT Group Inc	BUY	+22.00%	1.5M	$249000	—
ANG-PD\|American Intl Group Inc	SELL	EXIT	—	—	—
UNP\|Union Pac Corp	SELL	-1.60%	1.5K	$216000	—
YUSD\|Alleghany Corp	SELL	EXIT	—	—	—
ORCL\|Oracle Corp	SELL	EXIT	—	—	+3.5%
USB\|US Bancorp	SELL	EXIT	—	—	-8.6%
Shiseido Co Ltd	SELL	EXIT	—	—	—
DHR\|Danaher Corp	SELL	EXIT	—	—	+11.8%
COTY\|Coty Inc-CL A	SELL	-6.27%	13.3K	$69000	—
Cir SPA	SELL	EXIT	—	—	—
Cir SPA	BUY	NEW	251.2K	$115000	—
Hanjaya Mandala Sampoerna	BUY	+45.45%	1.0M	$87000	—
2019-Q4
MA\|Mastercard Inc Cl A	SELL	-4.37%	6.4M	$1.9B	+62.4%
NSRGY\|Nestle SA-Spons ADR	SELL	-2.12%	12.8M	$1.4B	—
BRK-A\|Berkshire Hathaway Inc Cl A	SELL	-1.94%	3.9K	$1.3B	—
HKHHY\|Heineken Holding NV	SELL	-1.68%	9.0M	$872M	-4.8%
Pernod Ricard	SELL	-1.89%	4.8M	$867M	—
Compagnie Financiere Richemont	SELL	-2.44%	10.2M	$798M	—
UNUSD\|Unilever NV ADR	SELL	-2.11%	12.4M	$711M	—
4I1\|Philip Morris International In	SELL	-2.42%	8.9M	$754M	—
BUD\|Anheuser-Busch InBev SA	SELL	-2.11%	7.6M	$618M	-27.8%
WFC\|Wells Fargo	SELL	-1.13%	12.6M	$680M	—
BRK-B\|Berkshire Hathaway Inc Cl B	SELL	-2.47%	2.2M	$500M	—
MLM\|Martin Marietta Materials	SELL	-2.90%	1.7M	$472M	—
GOOG\|Alphabet Inc Cl C	BUY	+22.50%	312.8K	$418M	—
The Swatch Group AG-BR	SELL	-3.93%	1.0M	$291M	—
CMCSA\|Comcast Corp New Cl A	SELL	-2.15%	5.8M	$260M	+12.9%
BF-A\|Brown-Forman Corp Cl A	SELL	-3.67%	3.7M	$235M	—
DEO\|Diageo PLC	SELL	-2.57%	5.4M	$230M	+18.3%
JC Decaux SA ACT	SELL	-2.98%	6.3M	$196M	—
MO\|Altria Group Inc	SELL	-32.41%	2.2M	$111M	-28.3%
BF-A\|Brown-Forman Corp Cl B	SELL	-4.53%	1.7M	$116M	—
V\|Visa Inc Cl A	SELL	-1.51%	495.0K	$93M	+46.6%
DGED\|Diageo PLC Sponsored ADR	SELL	-1.51%	232.4K	$39M	—
AXP\|American Express	SELL	-4.13%	131.9K	$16M	—
FMX\|Fomento Economico Mex Sp ADR	SELL	-18.31%	106.7K	$10M	—
XOM\|Exxon Mobil Corp	SELL	-1.95%	146.1K	$10M	-9.7%
Swedish Match AB	SELL	-9.36%	195.8K	$10M	—
OUT\|Outfront Media Inc	SELL	-3.40%	317.0K	$9M	+24.9%
MKL\|Markel Corp	SELL	-0.66%	7.5K	$9M	—
DANOY\|Danone ADR	SELL	-32.74%	334.7K	$6M	—
VMC\|Vulcan Materials	SELL	-1.10%	56.7K	$8M	—
CR\|Crane	SELL	-2.18%	96.5K	$8M	—
MLKN\|Herman Miller Inc	SELL	-1.36%	166.5K	$7M	—
HRL\|Hormel Foods Corp	SELL	-0.57%	150.8K	$7M	—
KO\|Coca-Cola	SELL	-5.03%	100.3K	$6M	—
Heineken NV	SELL	-11.26%	40.6K	$4M	—
MKC\|McCormick Inc	SELL	-0.17%	28.7K	$5M	—
DOV\|Dover Corp	SELL	-0.47%	42.1K	$5M	—
PG\|Procter & Gamble	SELL	-2.09%	38.0K	$5M	—
PEP\|Pepsico Inc	SELL	-6.51%	24.1K	$3M	—
PNC\|PNC Bank Corp	SELL	-2.72%	17.0K	$3M	—
GOOGL\|Alphabet Inc Cl A	SELL	-1.41%	1.8K	$2M	+16.8%
FULT\|Fulton Finl Corp	SELL	-0.21%	117.3K	$2M	—
RDS/A\|Royal Dutch Shell PLC ADR A	SELL	-9.65%	30.0K	$2M	—
EVF\|Eaton Vance Sr Income TR SF	BUY	+1.03%	300.3K	$2M	—
Reckitt Benckiser Group PLC	SELL	-6.06%	19.2K	$2M	—
Loreal SA	SELL	-11.95%	4.9K	$1M	—
HEINY\|Heineken NV Spons ADR	BUY	+1.34%	28.6K	$2M	—
COST\|Costco Whsl Corp	SELL	-0.10%	5.2K	$2M	+56.6%
Pernod-Ricard SA-Unspon ADR	SELL	-10.57%	37.0K	$1M	—
BIC	SELL	-32.13%	14.8K	$1M	—
JPM\|J.P. Morgan Chase	BUY	+0.57%	10.4K	$1M	—
CFRUY\|CIE Financiere Richemont-Unsp	SELL	-4.32%	160.0K	$1M	—
ABBV\|AbbVie Inc	SELL	-1.54%	12.8K	$1M	—
DD\|Dupont De Nemours Inc	SELL	-0.09%	15.1K	$972000	-11.6%
CHV\|Chevron Corp	SELL	-4.42%	8.6K	$1M	—
DOW\|Dow Inc	BUY	+1.23%	15.2K	$831000	—
MTB\|M & T Bk Corp	BUY	+0.65%	4.4K	$741000	—
DIS\|Disney Walt Productions	SELL	-0.46%	4.3K	$622000	—
Davide Campari-Milano SPA	BUY	+21.29%	65.6K	$600000	—
AAPL\|Apple Computer Inc	SELL	-4.77%	2.0K	$586000	—
MSFT\|Microsoft Corp	SELL	-2.64%	3.7K	$583000	—
TFC\|Truist Financial Corp	BUY	NEW	10.3K	$580000	—
BBTUSD\|BB&T Corp	SELL	EXIT	—	—	—
SWGAY\|The Swatch Group AG ADR	SELL	-4.22%	37.8K	$527000	-4.8%
Hostess Brands Inc Wts Exp 11/	BUY	+17.92%	250.0K	$493000	—
CTVA\|Corteva Inc	BUY	+0.45%	13.0K	$384000	—
SWMAY\|Swedish Match AB Unspon ADR	SELL	-25.98%	12.3K	$318000	—
HKHHY\|Heineken Holding NV ADR	SELL	EXIT	—	—	-3.6%
DANOY\|Groupe Danone	SELL	EXIT	—	—	-0.2%
Shiseido Co Ltd	SELL	-17.14%	2.9K	$208000	—
LVMH Moet Hennessy Louis Vuitt	SELL	-13.51%	544	$253000	—
MRK\|Merck Inc	SELL	-1.08%	2.8K	$250000	+15.0%
Roche Holding AG	SELL	-18.06%	635	$206000	—
USB\|US Bancorp	BUY	NEW	3.5K	$208000	—
DHR\|Danaher Corp	BUY	NEW	1.3K	$205000	—
COTY\|Coty Inc-CL A	SELL	-2.17%	14.2K	$160000	—
PZ Cussons PLC	SELL	EXIT	—	—	—
2019-Q3
MA\|Mastercard Inc Cl A	SELL	-3.51%	6.7M	$1.8B	+60.4%
NSRGY\|Nestle SA-Spons ADR	SELL	-2.57%	13.0M	$1.4B	—
BRK-A\|Berkshire Hathaway Inc Cl A	SELL	-1.90%	3.9K	$1.2B	—
HKHHY\|Heineken Holding NV	SELL	-2.43%	9.1M	$911M	-1.2%
Pernod Ricard	SELL	-2.51%	4.9M	$880M	—
Compagnie Financiere Richemont	SELL	-2.57%	10.4M	$765M	—
UNUSD\|Unilever NV ADR	SELL	-1.81%	12.6M	$759M	—
BUD\|Anheuser-Busch InBev SA	SELL	-2.20%	7.7M	$737M	-14.3%
4I1\|Philip Morris International In	SELL	-2.52%	9.1M	$690M	—
WFC\|Wells Fargo	BUY	+1.17%	12.8M	$645M	—
BRK-B\|Berkshire Hathaway Inc Cl B	SELL	-3.01%	2.3M	$471M	—
MLM\|Martin Marietta Materials	SELL	-3.16%	1.7M	$476M	—
The Swatch Group AG-BR	SELL	-2.78%	1.1M	$289M	—
GOOG\|Alphabet Inc Cl C	BUY	+30.61%	255.4K	$311M	—
CMCSA\|Comcast Corp New Cl A	SELL	-2.47%	5.9M	$266M	+11.8%
DEO\|Diageo PLC	SELL	-2.69%	5.6M	$229M	+21.9%
MO\|Altria Group Inc	SELL	-34.14%	3.3M	$134M	-29.1%
BF-A\|Brown-Forman Corp Cl A	SELL	-1.59%	3.9M	$232M	—
JC Decaux SA ACT	SELL	-2.38%	6.5M	$177M	—
BF-A\|Brown-Forman Corp Cl B	SELL	-4.80%	1.8M	$113M	—
V\|Visa Inc Cl A	SELL	-2.03%	502.6K	$86M	+45.5%
DGED\|Diageo PLC Sponsored ADR	SELL	-2.23%	236.0K	$39M	—
AXP\|American Express	SELL	-1.34%	137.6K	$16M	—
FMX\|Fomento Economico Mex Sp ADR	SELL	-1.18%	130.6K	$12M	—
XOM\|Exxon Mobil Corp	SELL	-1.30%	149.0K	$11M	-5.8%
Swedish Match AB	SELL	-3.16%	216.0K	$9M	—
OUT\|Outfront Media Inc	BUY	+0.26%	328.2K	$9M	—
MKL\|Markel Corp	SELL	-1.39%	7.6K	$9M	—
DANOY\|Danone ADR	SELL	-0.63%	497.6K	$9M	—
VMC\|Vulcan Materials	BUY	+3.07%	57.3K	$9M	—
CR\|Crane	SELL	-1.00%	98.6K	$8M	—
MLKN\|Herman Miller Inc	SELL	-2.84%	168.8K	$8M	—
HRL\|Hormel Foods Corp	SELL	-1.06%	151.7K	$7M	—
KO\|Coca-Cola	SELL	-0.42%	105.6K	$6M	—
Heineken NV	SELL	-0.54%	45.7K	$5M	—
PG\|Procter & Gamble	SELL	-1.12%	38.8K	$5M	—
MKC\|McCormick Inc	SELL	-0.78%	28.8K	$4M	—
DOV\|Dover Corp	SELL	-2.84%	42.3K	$4M	—
PEP\|Pepsico Inc	SELL	-2.02%	25.7K	$4M	—
PNC\|PNC Bank Corp	SELL	-0.19%	17.5K	$2M	—
RDS/A\|Royal Dutch Shell PLC ADR A	SELL	-1.34%	33.2K	$2M	—
EVF\|Eaton Vance Sr Income TR SF	SELL	-1.61%	297.2K	$2M	-5.2%
Reckitt Benckiser Group PLC	SELL	-9.63%	20.4K	$2M	—
HEINY\|Heineken NV Spons ADR	SELL	-0.35%	28.3K	$2M	—
Loreal SA	BUY	+11.42%	5.6K	$2M	—
COST\|Costco Whsl Corp	BUY	+1.53%	5.2K	$1M	—
Pernod-Ricard SA-Unspon ADR	BUY	+19.05%	41.4K	$1M	—
JPM\|J.P. Morgan Chase	SELL	-15.06%	10.3K	$1M	-0.6%
CFRUY\|CIE Financiere Richemont-Unsp	BUY	+11.81%	167.2K	$1M	—
CHV\|Chevron Corp	SELL	-2.37%	9.0K	$1M	—
DD\|Dupont De Nemours Inc	SELL	-1.04%	15.1K	$1M	-4.7%
MTB\|M & T Bk Corp	SELL	-5.43%	4.3K	$685000	-4.2%
DOW\|Dow Inc	SELL	-1.54%	15.0K	$715000	-10.3%
LAMR\|Lamar Advertising Co-A	SELL	-3.14%	8.1K	$666000	—
DIS\|Disney Walt Productions	SELL	-1.37%	4.3K	$563000	—
BBTUSD\|BB&T Corp	BUY	+0.49%	10.2K	$547000	—
SWGAY\|The Swatch Group AG ADR	BUY	+10.97%	39.5K	$525000	—
Davide Campari-Milano SPA	BUY	+92.94%	54.1K	$489000	—
CTVA\|Corteva Inc	SELL	-15.52%	12.9K	$362000	+6.1%
BUD\|Anheuser-Busch InBev ADR	SELL	EXIT	—	—	+10.5%
HKHHY\|Heineken Holding NV ADR	BUY	NEW	6.4K	$320000	—
UNP\|Union Pac Corp	SELL	-8.24%	1.6K	$253000	—
LVMH Moet Hennessy Louis Vuitt	SELL	-0.16%	629	$250000	—
USB\|US Bancorp	SELL	EXIT	—	—	+5.0%
BP\|BP PLC ADR	SELL	EXIT	—	—	-9.8%
COTY\|Coty Inc-CL A	SELL	-4.76%	14.5K	$152000	—
Bollore	SELL	-55.00%	13.5K	$56000	—
2019-Q2
MA\|Mastercard Inc Cl A	SELL	-7.02%	6.9M	$1.8B	+45.0%
NSRGY\|Nestle SA-Spons ADR	SELL	-3.34%	13.4M	$1.4B	—
BRK-A\|Berkshire Hathaway Inc Cl A	SELL	-2.34%	4.0K	$1.3B	—
HKHHY\|Heineken Holding NV	SELL	-3.00%	9.4M	$985M	+0.2%
Pernod Ricard	SELL	-3.58%	5.1M	$935M	—
Compagnie Financiere Richemont	SELL	-2.01%	10.7M	$908M	—
4I1\|Philip Morris International In	SELL	-3.18%	9.3M	$732M	—
UNUSD\|Unilever NV ADR	SELL	-3.27%	12.9M	$782M	—
BUD\|Anheuser-Busch InBev SA	SELL	-1.75%	7.9M	$701M	-22.4%
WFC\|Wells Fargo	SELL	-0.10%	12.6M	$598M	—
BRK-B\|Berkshire Hathaway Inc Cl B	SELL	-3.51%	2.3M	$497M	—
MLM\|Martin Marietta Materials	SELL	-3.17%	1.8M	$413M	—
The Swatch Group AG-BR	SELL	-3.90%	1.1M	$321M	—
MO\|Altria Group Inc	SELL	-2.44%	5.0M	$236M	-20.4%
CMCSA\|Comcast Corp New Cl A	SELL	-3.70%	6.1M	$256M	+7.3%
DEO\|Diageo PLC	SELL	-8.41%	5.7M	$247M	+23.0%
BF-A\|Brown-Forman Corp Cl A	SELL	-2.71%	3.9M	$217M	—
GOOG\|Alphabet Inc Cl C	BUY	+109.53%	195.5K	$211M	—
JC Decaux SA ACT	SELL	-3.05%	6.7M	$203M	—
BF-A\|Brown-Forman Corp Cl B	SELL	-5.71%	1.9M	$105M	—
V\|Visa Inc Cl A	SELL	-1.38%	513.0K	$89M	+32.6%
DGED\|Diageo PLC Sponsored ADR	SELL	-29.80%	241.3K	$42M	—
AXP\|American Express	SELL	-3.72%	139.4K	$17M	—
FMX\|Fomento Economico Mex Sp ADR	SELL	-3.62%	132.2K	$13M	—
Swedish Match AB	SELL	-8.12%	223.1K	$9M	—
XOM\|Exxon Mobil Corp	SELL	-0.23%	150.9K	$12M	+0.2%
CR\|Crane	SELL	-2.88%	99.6K	$8M	—
DANOY\|Danone ADR	SELL	-10.20%	500.7K	$8M	—
OUT\|Outfront Media Inc	SELL	-4.11%	327.3K	$8M	+17.7%
MKL\|Markel Corp	SELL	-1.09%	7.7K	$8M	—
MLKN\|Herman Miller Inc	SELL	-1.70%	173.7K	$8M	—
VMC\|Vulcan Materials	BUY	+2.63%	55.6K	$8M	—
HRL\|Hormel Foods Corp	SELL	-0.13%	153.3K	$6M	—
KO\|Coca-Cola	SELL	-4.49%	106.0K	$5M	—
MKC\|McCormick Inc	SELL	-1.71%	29.0K	$4M	—
PG\|Procter & Gamble	SELL	-8.19%	39.3K	$4M	—
Nestle SA-REG	BUY	+2.91%	42.2K	$4M	—
BUD\|Anheuser-Busch InBev SA Restri	SELL	-5.05%	49.4K	$4M	—
DOV\|Dover Corp	SELL	-0.63%	43.5K	$4M	—
PEP\|Pepsico Inc	SELL	-1.47%	26.3K	$3M	—
DD\|DowDupont Inc	SELL	EXIT	—	—	-27.3%
PNC\|PNC Bank Corp	SELL	-0.41%	17.5K	$2M	—
UL\|Unilever NV	BUY	NEW	39.0K	$2M	—
UL\|Unilever NV	SELL	EXIT	—	—	+12.7%
RDS/A\|Royal Dutch Shell PLC ADR A	SELL	-5.56%	33.6K	$2M	—
GOOGL\|Alphabet Inc Cl A	BUY	+0.77%	1.8K	$2M	—
BIC	SELL	-1.80%	21.8K	$2M	—
FULT\|Fulton Finl Corp	SELL	-1.37%	117.5K	$2M	—
Reckitt Benckiser Group PLC	SELL	-0.94%	22.6K	$2M	—
EVF\|Eaton Vance Sr Income TR SF	BUY	+0.89%	302.1K	$2M	—
HEINY\|Heineken NV Spons ADR	SELL	-2.25%	28.4K	$2M	—
JPM\|J.P. Morgan Chase	BUY	+0.59%	12.1K	$1M	—
COST\|Costco Whsl Corp	SELL	-2.58%	5.1K	$1M	+30.4%
Pernod-Ricard SA-Unspon ADR	SELL	-0.64%	34.8K	$1M	—
CFRUY\|CIE Financiere Richemont-Unsp	SELL	-0.24%	149.5K	$1M	—
CHV\|Chevron Corp	SELL	-7.44%	9.3K	$1M	—
DD\|Dupont De Nemours Inc	BUY	NEW	15.3K	$1M	—
MTB\|M & T Bk Corp	BUY	+0.59%	4.6K	$780000	—
DOW\|Dow Inc	BUY	NEW	15.2K	$751000	—
LAMR\|Lamar Advertising Co-A	SELL	-4.20%	8.4K	$677000	—
DIS\|Disney Walt Productions	SELL	-0.34%	4.4K	$612000	—
WMT\|Wal Mart Stores Inc	SELL	-1.72%	4.9K	$536000	—
BBTUSD\|BB&T Corp	BUY	+0.42%	10.2K	$501000	—
CTVA\|Corteva Inc	BUY	NEW	15.3K	$453000	—
BUD\|Anheuser-Busch InBev ADR	BUY	NEW	4.2K	$371000	—
SWMAY\|Swedish Match AB Unspon ADR	BUY	NEW	16.6K	$352000	—
COTY\|Coty Inc-CL A	SELL	-49.00%	15.2K	$204000	—
UNP\|Union Pac Corp	SELL	-6.08%	1.7K	$287000	—
Davide Campari-Milano SPA	BUY	+111.14%	28.0K	$275000	—
DANOY\|Groupe Danone	SELL	-0.31%	3.2K	$272000	-3.5%
LVMH Moet Hennessy Louis Vuitt	BUY	NEW	630	$269000	—
CC\|Chemours Co	SELL	EXIT	—	—	-33.2%
MMM\|3M Company	SELL	EXIT	—	—	-26.2%
MRK\|Merck Inc	SELL	-0.18%	2.8K	$233000	+8.6%
BP\|BP PLC ADR	SELL	-0.14%	5.1K	$213000	-0.3%
YUSD\|Alleghany Corp	BUY	NEW	324	$221000	—
IBM\|I B M	SELL	EXIT	—	—	+1.2%
2019-Q1
MA\|Mastercard Inc Cl A	SELL	-7.94%	7.4M	$1.8B	+27.9%
BRK-A\|Berkshire Hathaway Inc Cl A	SELL	-7.22%	4.1K	$1.2B	—
NSRGY\|Nestle SA-Spons ADR	SELL	-7.08%	13.8M	$1.3B	—
HKHHY\|Heineken Holding NV	SELL	-6.32%	9.7M	$969M	-6.5%
Pernod Ricard	SELL	-6.85%	5.3M	$944M	—
4I1\|Philip Morris International In	SELL	-3.99%	9.6M	$851M	—
Compagnie Financiere Richemont	SELL	-4.98%	10.9M	$794M	—
UNUSD\|Unilever NV ADR	SELL	-7.08%	13.3M	$776M	—
BUD\|Anheuser-Busch InBev SA	BUY	+3.25%	8.1M	$676M	—
WFC\|Wells Fargo	SELL	-5.19%	12.6M	$611M	—
BRK-B\|Berkshire Hathaway Inc Cl B	SELL	-2.72%	2.4M	$486M	—
MLM\|Martin Marietta Materials	SELL	-4.72%	1.9M	$373M	—
The Swatch Group AG-BR	SELL	-2.55%	1.2M	$333M	—
MO\|Altria Group Inc	SELL	-4.09%	5.1M	$294M	-24.1%
DEO\|Diageo PLC	SELL	-17.52%	6.3M	$256M	+13.1%
CMCSA\|Comcast Corp New Cl A	SELL	-7.26%	6.3M	$251M	-4.6%
JC Decaux SA ACT	SELL	-4.48%	6.9M	$210M	—
BF-A\|Brown-Forman Corp Cl A	SELL	-3.86%	4.1M	$207M	—
BF-A\|Brown-Forman Corp Cl B	SELL	-16.97%	2.0M	$106M	—
GOOG\|Alphabet Inc Cl C	BUY	+0.81%	93.3K	$109M	—
V\|Visa Inc Cl A	SELL	-11.00%	520.2K	$81M	+17.0%
DGED\|Diageo PLC Sponsored ADR	SELL	-5.56%	343.8K	$56M	—
AXP\|American Express	SELL	-11.56%	144.8K	$16M	—
FMX\|Fomento Economico Mex Sp ADR	SELL	-10.37%	137.1K	$13M	—
Swedish Match AB	SELL	-1.08%	242.8K	$12M	—
XOM\|Exxon Mobil Corp	SELL	-0.22%	151.3K	$12M	-0.3%
DANOY\|Danone ADR	SELL	-23.76%	557.6K	$9M	—
CR\|Crane	SELL	-4.11%	102.6K	$9M	—
MKL\|Markel Corp	SELL	-1.91%	7.8K	$8M	—
OUT\|Outfront Media Inc	SELL	-16.81%	341.4K	$8M	+0.5%
HRL\|Hormel Foods Corp	SELL	-1.21%	153.5K	$7M	—
VMC\|Vulcan Materials	BUY	+0.67%	54.2K	$6M	—
MLKN\|Herman Miller Inc	SELL	-3.55%	176.7K	$6M	—
KO\|Coca-Cola	SELL	-5.07%	111.0K	$5M	—
PG\|Procter & Gamble	SELL	-6.00%	42.8K	$4M	—
MKC\|McCormick Inc	SELL	-4.46%	29.5K	$4M	—
DOV\|Dover Corp	SELL	-2.05%	43.8K	$4M	—
Nestle SA-REG	BUY	+0.13%	41.1K	$4M	—
PEP\|Pepsico Inc	SELL	-4.49%	26.7K	$3M	—
DD\|DowDupont Inc	SELL	-2.18%	46.7K	$2M	-23.7%
UL\|Unilever NV	BUY	+0.27%	39.1K	$2M	—
RDS/A\|Royal Dutch Shell PLC ADR A	SELL	-8.60%	35.6K	$2M	—
BIC	BUY	+0.73%	22.2K	$2M	—
PNC\|PNC Bank Corp	SELL	-3.30%	17.6K	$2M	—
GOOGL\|Alphabet Inc Cl A	BUY	+0.94%	1.8K	$2M	—
Reckitt Benckiser Group PLC	SELL	-3.90%	22.8K	$2M	—
FULT\|Fulton Finl Corp	SELL	-0.83%	119.2K	$2M	—
EVF\|Eaton Vance Sr Income TR SF	BUY	+0.85%	299.4K	$2M	—
Pernod-Ricard SA-Unspon ADR	SELL	-27.67%	35.0K	$1M	—
HEINY\|Heineken NV Spons ADR	BUY	+9.42%	29.0K	$2M	—
Loreal SA	BUY	+7.22%	5.0K	$1M	—
ABBV\|AbbVie Inc	SELL	-6.85%	13.0K	$1M	—
CHV\|Chevron Corp	SELL	-6.10%	10.0K	$1M	—
JPM\|J.P. Morgan Chase	BUY	+0.64%	12.1K	$1M	—
CFRUY\|CIE Financiere Richemont-Unsp	BUY	+53.10%	149.9K	$1M	—
KHC\|Kraft Heinz Co	SELL	EXIT	—	—	—
ABT\|Abbott Labs	SELL	-13.25%	12.1K	$968000	—
Pargesa Holding AG - B	SELL	-2.12%	11.5K	$903000	—
MTB\|M & T Bk Corp	BUY	+0.66%	4.6K	$716000	—
MCD\|McDonalds Corp	BUY	+0.17%	3.0K	$564000	—
SWGAY\|The Swatch Group AG ADR	BUY	NEW	35.6K	$509000	—
DIS\|Disney Walt Productions	SELL	-1.57%	4.4K	$488000	—
WMT\|Wal Mart Stores Inc	SELL	-2.27%	4.9K	$482000	—
BBTUSD\|BB&T Corp	BUY	+0.41%	10.2K	$473000	—
COTY\|Coty Inc-CL A	SELL	-13.11%	29.9K	$343000	—
APY1USD\|Apergy Corp	SELL	EXIT	—	—	—
UNP\|Union Pac Corp	SELL	-5.24%	1.8K	$303000	—
DANOY\|Groupe Danone	SELL	-1.83%	3.2K	$248000	-9.9%
CC\|Chemours Co	BUY	NEW	6.4K	$238000	—
BP\|BP PLC ADR	BUY	NEW	5.1K	$223000	—
ORCL\|Oracle Corp	BUY	NEW	4.0K	$215000	—
Roche Holding AG	BUY	NEW	775	$213000	—
IBM\|I B M	BUY	NEW	1.5K	$213000	—
USB\|US Bancorp	BUY	NEW	4.3K	$208000	—
YUSD\|Alleghany Corp	SELL	EXIT	—	—	—
Davide Campari-Milano SPA	BUY	NEW	13.3K	$130000	—
2018-Q4
MA\|Mastercard Inc Cl A	SELL	-3.28%	8.1M	$1.5B	+15.6%
BRK-A\|Berkshire Hathaway Inc Cl A	SELL	-3.03%	4.4K	$1.4B	—
NSRGY\|Nestle SA-Spons ADR	SELL	-3.21%	14.9M	$1.2B	—
Pernod Ricard	SELL	-3.58%	5.6M	$924M	—
HKHHY\|Heineken Holding NV	SELL	-2.58%	10.3M	$870M	-14.0%
Compagnie Financiere Richemont	SELL	-1.44%	11.5M	$733M	—
4I1\|Philip Morris International In	SELL	-2.69%	10.0M	$669M	—
UNUSD\|Unilever NV ADR	SELL	-2.72%	14.3M	$771M	—
BUD\|Anheuser-Busch InBev SA	SELL	-3.24%	7.8M	$514M	-31.9%
WFC\|Wells Fargo	SELL	-0.26%	13.3M	$615M	—
BRK-B\|Berkshire Hathaway Inc Cl B	SELL	-2.61%	2.5M	$507M	—
The Swatch Group AG-BR	SELL	-0.22%	1.2M	$347M	—
MLM\|Martin Marietta Materials	SELL	-2.13%	1.9M	$334M	—
MO\|Altria Group Inc	SELL	-2.14%	5.3M	$263M	-8.3%
DEO\|Diageo PLC	SELL	-4.11%	7.6M	$270M	+3.0%
JC Decaux SA ACT	SELL	-5.14%	7.2M	$203M	—
CMCSA\|Comcast Corp New Cl A	SELL	-3.17%	6.8M	$231M	-7.2%
BF-A\|Brown-Forman Corp Cl A	SELL	-1.83%	4.2M	$200M	—
BF-A\|Brown-Forman Corp Cl B	SELL	-3.70%	2.4M	$115M	—
GOOG\|Alphabet Inc Cl C	BUY	+61.41%	92.6K	$96M	—
V\|Visa Inc Cl A	SELL	-5.21%	584.5K	$77M	+13.4%
DGED\|Diageo PLC Sponsored ADR	SELL	-6.77%	364.1K	$52M	—
AXP\|American Express	SELL	-7.72%	163.7K	$16M	—
FMX\|Fomento Economico Mex Sp ADR	SELL	-5.79%	153.0K	$13M	—
Swedish Match AB	SELL	-5.01%	245.4K	$10M	—
XOM\|Exxon Mobil Corp	SELL	-2.15%	151.6K	$10M	+3.3%
DANOY\|Danone ADR	SELL	-11.76%	731.4K	$10M	—
CR\|Crane	SELL	-8.17%	107.0K	$8M	—
MKL\|Markel Corp	SELL	-1.00%	7.9K	$8M	—
OUT\|Outfront Media Inc	SELL	-10.41%	410.3K	$7M	-8.2%
MLKN\|Herman Miller Inc	SELL	-3.71%	183.2K	$6M	—
HRL\|Hormel Foods Corp	SELL	-2.91%	155.4K	$7M	—
VMC\|Vulcan Materials	SELL	-2.91%	53.8K	$5M	—
KO\|Coca-Cola	SELL	-2.00%	116.9K	$6M	—
DOV\|Dover Corp	SELL	-11.14%	44.7K	$3M	—
MKC\|McCormick Inc	SELL	-5.94%	30.9K	$4M	—
PG\|Procter & Gamble	SELL	-4.06%	45.5K	$4M	—
PEP\|Pepsico Inc	SELL	-12.68%	27.9K	$3M	—
DD\|DowDupont Inc	BUY	+0.20%	47.7K	$3M	—
RDS/A\|Royal Dutch Shell PLC ADR A	SELL	-2.76%	38.9K	$2M	—
PNC\|PNC Bank Corp	SELL	-7.15%	18.2K	$2M	—
Reckitt Benckiser Group PLC	SELL	-3.99%	23.7K	$2M	—
GOOGL\|Alphabet Inc Cl A	SELL	-3.10%	1.8K	$2M	-3.4%
HEINY\|Heineken NV Spons ADR	SELL	-35.61%	26.5K	$1M	—
EVF\|Eaton Vance Sr Income TR SF	BUY	+0.82%	296.9K	$2M	—
CFRUY\|CIE Financiere Richemont-Unsp	SELL	-57.62%	97.9K	$626000	—
Pernod-Ricard SA-Unspon ADR	SELL	-12.38%	48.4K	$2M	—
BAC\|Bank Amer Corp	SELL	-2.00%	49.0K	$1M	—
JPM\|J.P. Morgan Chase	BUY	+4.17%	12.0K	$1M	—
KHC\|Kraft Heinz Co	BUY	+1.72%	23.9K	$1M	—
SWGAY\|The Swatch Group AG ADR	SELL	EXIT	—	—	—
LAMR\|Lamar Advertising Co-A	SELL	-23.49%	8.8K	$606000	—
M&T Bank Corp Wts Exp 12/23/1	SELL	EXIT	—	—	—
MTB\|M & T Bk Corp	BUY	NEW	4.5K	$648000	—
APY1USD\|Apergy Corp	SELL	-19.12%	11.7K	$318000	—
AAPL\|Apple Computer Inc	SELL	-19.27%	2.1K	$330000	—
BBTUSD\|BB&T Corp	SELL	-4.72%	10.1K	$438000	—
Nielsen Holdings PLC ORD	SELL	EXIT	—	—	—
COTY\|Coty Inc-CL A	SELL	-1.86%	34.4K	$225000	—
LT Group Inc	BUY	+25.00%	1.2M	$395000	—
CC\|Chemours Co	SELL	EXIT	—	—	—
BP\|BP PLC ADR	SELL	EXIT	—	—	—
IBM\|I B M	SELL	EXIT	—	—	—
USB\|US Bancorp	SELL	EXIT	—	—	—
MRK\|Merck Inc	BUY	NEW	2.8K	$213000	—
ORCL\|Oracle Corp	SELL	EXIT	—	—	-1.0%
COP\|Conocophillips	SELL	EXIT	—	—	-6.9%
Hostess Brands Inc Wts Exp 11/	BUY	+112.00%	212.0K	$197000	—
2018-Q3
MA\|Mastercard Inc Cl A	SELL	-3.56%	8.4M	$1.9B	+20.3%
BRK-A\|Berkshire Hathaway Inc Cl A	SELL	-1.43%	4.6K	$1.5B	—
NSRGY\|Nestle SA-Spons ADR	SELL	-1.92%	15.4M	$1.3B	—
HKHHY\|Heineken Holding NV	BUY	+0.23%	10.6M	$959M	—
Compagnie Financiere Richemont	BUY	+1.22%	11.6M	$954M	—
Pernod Ricard	SELL	-0.75%	5.8M	$960M	—
4I1\|Philip Morris International In	SELL	-0.93%	10.3M	$840M	—
UNUSD\|Unilever NV ADR	SELL	-1.52%	14.7M	$818M	—
BUD\|Anheuser-Busch InBev SA	BUY	+0.12%	8.1M	$704M	—
WFC\|Wells Fargo	BUY	+8.99%	13.4M	$703M	—
BRK-B\|Berkshire Hathaway Inc Cl B	BUY	+0.95%	2.6M	$546M	—
The Swatch Group AG-BR	BUY	+4.00%	1.2M	$478M	—
MLM\|Martin Marietta Materials	SELL	-0.20%	2.0M	$362M	—
MO\|Altria Group Inc	SELL	-1.67%	5.4M	$329M	-9.8%
DEO\|Diageo PLC	SELL	-1.36%	7.9M	$280M	+3.8%
JC Decaux SA ACT	SELL	-1.10%	7.6M	$279M	—
CMCSA\|Comcast Corp New Cl A	SELL	-1.10%	7.0M	$248M	-10.2%
BF-A\|Brown-Forman Corp Cl A	SELL	-0.28%	4.3M	$218M	—
BF-A\|Brown-Forman Corp Cl B	SELL	-5.01%	2.5M	$127M	—
V\|Visa Inc Cl A	SELL	-1.19%	616.6K	$93M	+14.9%
GOOG\|Alphabet Inc Cl C	BUY	+1.11%	57.4K	$68M	—
BTI\|British American Tobacco PLC	SELL	EXIT	—	—	-17.7%
DGED\|Diageo PLC Sponsored ADR	SELL	-3.02%	390.5K	$55M	—
AXP\|American Express	SELL	-1.64%	177.4K	$19M	—
FMX\|Fomento Economico Mex Sp ADR	SELL	-0.96%	162.4K	$16M	—
Swedish Match AB	SELL	-0.50%	258.4K	$13M	—
XOM\|Exxon Mobil Corp	BUY	+0.38%	154.9K	$13M	—
DANOY\|Danone ADR	SELL	-2.24%	829.0K	$13M	—
CR\|Crane	SELL	-2.77%	116.5K	$11M	—
MKL\|Markel Corp	SELL	-1.11%	8.0K	$10M	—
OUT\|Outfront Media Inc	BUY	+0.57%	458.0K	$9M	—
MLKN\|Herman Miller Inc	SELL	-2.87%	190.3K	$7M	—
VMC\|Vulcan Materials	BUY	+1.02%	55.4K	$6M	—
HRL\|Hormel Foods Corp	BUY	+0.90%	160.0K	$6M	—
KO\|Coca-Cola	SELL	-2.19%	119.3K	$6M	—
DOV\|Dover Corp	SELL	-1.95%	50.3K	$4M	—
MKC\|McCormick Inc	SELL	-1.94%	32.8K	$4M	—
PG\|Procter & Gamble	SELL	-2.87%	47.4K	$4M	—
PEP\|Pepsico Inc	SELL	-0.62%	32.0K	$4M	—
RDS/A\|Royal Dutch Shell PLC ADR A	SELL	-12.07%	40.0K	$3M	—
DD\|DowDupont Inc	SELL	-0.03%	47.6K	$3M	-5.4%
PNC\|PNC Bank Corp	SELL	-6.64%	19.6K	$3M	—
Reckitt Benckiser Group PLC	SELL	-1.71%	24.7K	$2M	—
Lindt & Spruengli AG - Reg	SELL	-3.70%	26	$2M	—
BIC	BUY	+4.75%	22.1K	$2M	—
FULT\|Fulton Finl Corp	SELL	-0.08%	120.2K	$2M	—
HEINY\|Heineken NV Spons ADR	BUY	+3.32%	41.2K	$2M	—
EVF\|Eaton Vance Sr Income TR SF	BUY	+0.77%	294.5K	$2M	—
CFRUY\|CIE Financiere Richemont-Unsp	BUY	+4.93%	231.0K	$2M	—
Pernod-Ricard SA-Unspon ADR	BUY	+4.00%	55.3K	$2M	—
WFC\|Wells Fargo WTS Exp 10/28/18	SELL	EXIT	—	—	—
BAC\|Bank Amer Corp	BUY	+4.17%	50.0K	$1M	—
CHV\|Chevron Corp	SELL	-3.35%	10.7K	$1M	—
JPM\|J.P. Morgan Chase	BUY	+476.00%	11.5K	$1M	—
COST\|Costco Whsl Corp	SELL	-4.49%	5.2K	$1M	+18.8%
Loreal SA	SELL	-2.70%	4.7K	$1M	—
SWGAY\|The Swatch Group AG ADR	BUY	+11.43%	54.6K	$1M	—
APY1USD\|Apergy Corp	SELL	-41.11%	14.5K	$632000	—
JPM\|JP Morgan Chase & Co WTS Exp 1	SELL	EXIT	—	—	+0.2%
LAMR\|Lamar Advertising Co-A	SELL	-4.19%	11.4K	$890000	—
IBM\|I B M	SELL	-71.45%	1.6K	$238000	—
Nielsen Holdings PLC ORD	SELL	-11.59%	16.8K	$464000	—
AAPL\|Apple Computer Inc	BUY	+53.10%	2.6K	$586000	—
BBTUSD\|BB&T Corp	BUY	+0.37%	10.6K	$515000	—
DIS\|Disney Walt Productions	SELL	-2.93%	4.5K	$522000	—
COTY\|Coty Inc-CL A	SELL	-0.20%	35.0K	$440000	—
WMT\|Wal Mart Stores Inc	SELL	-4.53%	5.1K	$475000	—
MSFT\|Microsoft Corp	SELL	-1.43%	3.8K	$434000	—
ORLY\|O Reilly Automotive Inc	SELL	-9.09%	1.0K	$347000	+29.3%
LT Group Inc	BUY	+6.95%	1.0M	$267000	—
CC\|Chemours Co	BUY	+0.58%	6.5K	$255000	—
SLB\|Schlumberger LTD	SELL	EXIT	—	—	—
MMM\|3M Company	SELL	-20.00%	1.1K	$240000	-12.4%
BP\|BP PLC ADR	BUY	+0.04%	5.2K	$240000	—
CSFLUSD\|Centerstate BKS FLA Inc	SELL	EXIT	—	—	—
YUSD\|Alleghany Corp	BUY	NEW	324	$211000	—
JNJ\|Johnson & Johnson	SELL	EXIT	—	—	—
ORCL\|Oracle Corp	BUY	NEW	4.0K	$206000	—
COP\|Conocophillips	BUY	NEW	2.6K	$204000	—
Hostess Brands Inc Wts Exp 11/	BUY	+73.91%	100.0K	$106000	—
2018-Q2
MA\|Mastercard Inc Cl A	SELL	-3.21%	8.7M	$1.7B	+11.3%
BRK-A\|Berkshire Hathaway Inc Cl A	SELL	-0.96%	4.6K	$1.3B	—
NSRGY\|Nestle SA-Spons ADR	SELL	-1.05%	15.7M	$1.2B	—
HKHHY\|Heineken Holding NV	SELL	-1.30%	10.6M	$1.0B	-1.3%
Compagnie Financiere Richemont	SELL	-1.17%	11.5M	$975M	—
4I1\|Philip Morris International In	BUY	+0.16%	10.4M	$839M	—
Pernod Ricard	SELL	-1.96%	5.9M	$963M	—
UNUSD\|Unilever NV ADR	SELL	-1.98%	15.0M	$833M	—
BUD\|Anheuser-Busch InBev SA	BUY	+5.55%	8.1M	$813M	—
WFC\|Wells Fargo	SELL	-0.62%	12.3M	$680M	—
The Swatch Group AG-BR	SELL	-0.41%	1.2M	$546M	—
BRK-B\|Berkshire Hathaway Inc Cl B	SELL	-0.88%	2.5M	$472M	—
MLM\|Martin Marietta Materials	SELL	-1.21%	2.0M	$445M	—
MO\|Altria Group Inc	SELL	-1.72%	5.5M	$315M	-13.7%
BTI\|British American Tobacco PLC	SELL	-76.24%	1.3M	$63M	-17.5%
DEO\|Diageo PLC	SELL	-4.50%	8.0M	$288M	+5.1%
JC Decaux SA ACT	SELL	-0.29%	7.7M	$258M	—
CMCSA\|Comcast Corp New Cl A	SELL	-0.60%	7.1M	$232M	-17.5%
BF-A\|Brown-Forman Corp Cl A	SELL	-0.25%	4.3M	$210M	—
BF-A\|Brown-Forman Corp Cl B	SELL	-6.09%	2.6M	$130M	—
V\|Visa Inc Cl A	BUY	+9.56%	624.0K	$83M	—
GOOG\|Alphabet Inc Cl C	BUY	NEW	56.7K	$63M	—
DGED\|Diageo PLC Sponsored ADR	SELL	-3.04%	402.7K	$58M	—
AXP\|American Express	BUY	+10.20%	180.4K	$18M	—
FMX\|Fomento Economico Mex Sp ADR	BUY	+18.47%	164.0K	$14M	—
Swedish Match AB	SELL	-4.60%	259.7K	$13M	—
XOM\|Exxon Mobil Corp	SELL	-1.42%	154.4K	$13M	+5.1%
DANOY\|Danone ADR	BUY	+18.35%	848.0K	$12M	—
CR\|Crane	SELL	-3.11%	119.8K	$10M	—
MKL\|Markel Corp	SELL	-1.14%	8.1K	$9M	—
OUT\|Outfront Media Inc	BUY	+33.91%	455.4K	$9M	—
VMC\|Vulcan Materials	BUY	+191.47%	54.9K	$7M	—
MLKN\|Herman Miller Inc	SELL	-0.68%	195.9K	$7M	—
HRL\|Hormel Foods Corp	SELL	-1.11%	158.6K	$6M	—
KO\|Coca-Cola	SELL	-1.39%	122.0K	$5M	—
DOV\|Dover Corp	SELL	-1.01%	51.3K	$4M	—
Heineken NV	SELL	-2.75%	46.0K	$5M	—
PG\|Procter & Gamble	SELL	-7.60%	48.8K	$4M	—
MKC\|McCormick Inc	SELL	-0.30%	33.5K	$4M	—
PEP\|Pepsico Inc	SELL	-4.24%	32.2K	$4M	—
PNC\|PNC Bank Corp	SELL	-0.02%	21.0K	$3M	—
RDS/A\|Royal Dutch Shell PLC ADR A	SELL	-3.63%	45.5K	$3M	—
DD\|DowDupont Inc	BUY	+0.26%	47.6K	$3M	—
Reckitt Benckiser Group PLC	SELL	-1.28%	25.1K	$2M	—
M&T Bank Corp Wts Exp 12/23/1	SELL	-62.73%	7.4K	$709000	—
JPM\|JP Morgan Chase & Co WTS Exp 1	SELL	-50.78%	14.9K	$946000	-3.7%
HEINY\|Heineken NV Spons ADR	BUY	+31.43%	39.9K	$2M	—
EVF\|Eaton Vance Sr Income TR SF	BUY	+0.25%	292.2K	$2M	—
WFC\|Wells Fargo WTS Exp 10/28/18	SELL	-19.42%	81.8K	$2M	—
CFRUY\|CIE Financiere Richemont-Unsp	BUY	+32.99%	220.2K	$2M	—
Pernod-Ricard SA-Unspon ADR	BUY	+24.23%	53.1K	$2M	—
CHV\|Chevron Corp	SELL	-10.65%	11.0K	$1M	—
ABBV\|AbbVie Inc	BUY	+1.94%	14.0K	$1M	—
SWGAY\|The Swatch Group AG ADR	BUY	+31.94%	49.0K	$1M	—
APY1USD\|Apergy Corp	BUY	NEW	24.6K	$1M	—
IBM\|I B M	SELL	-10.85%	5.5K	$769000	—
BBTUSD\|BB&T Corp	SELL	-36.62%	10.6K	$534000	—
ABT\|Abbott Labs	BUY	+9.06%	14.0K	$851000	—
Nielsen Holdings PLC ORD	SELL	-18.34%	19.0K	$587000	—
COTY\|Coty Inc-CL A	SELL	-4.14%	35.1K	$495000	—
A P Moller-Maersk A/S	SELL	EXIT	—	—	—
BMTA\|British Amern Tob PLC ADR	SELL	EXIT	—	—	—
MCD\|McDonalds Corp	SELL	-8.35%	3.0K	$465000	—
WMT\|Wal Mart Stores Inc	SELL	-1.03%	5.3K	$454000	—
MSFT\|Microsoft Corp	SELL	-18.95%	3.9K	$380000	—
LT Group Inc	BUY	+55.83%	935.0K	$317000	—
CC\|Chemours Co	BUY	+0.33%	6.4K	$285000	—
BP\|BP PLC ADR	SELL	-1.89%	5.2K	$237000	—
CSFLUSD\|Centerstate BKS FLA Inc	BUY	NEW	7.3K	$218000	—
UNM\|Unum Group	SELL	EXIT	—	—	-24.5%
INDV\|Indivior PLC	SELL	EXIT	—	—	+11.5%
2018-Q1
MA\|Mastercard Inc Cl A	BUY	NEW	8.9M	$1.6B	—
BRK-A\|Berkshire Hathaway Inc Cl A	SELL	-0.30%	4.7K	$1.4B	—
Mastercard Inc Cl A	SELL	EXIT	—	—	—
NSRGY\|Nestle SA-Spons ADR	SELL	-0.16%	15.9M	$1.3B	—
HKHHY\|Heineken Holding NV	BUY	NEW	10.7M	$1.1B	—
4I1\|Philip Morris International In	BUY	+2.34%	10.4M	$1.0B	—
HKHHY\|Heineken Holding NV	SELL	EXIT	—	—	—
CFRGF\|Compagnie Financiere Richemont	SELL	EXIT	—	—	—
Compagnie Financiere Richemont	BUY	NEW	11.6M	$1.0B	—
Pernod Ricard	BUY	NEW	6.0M	$1000M	—
Pernod Ricard	SELL	EXIT	—	—	—
UNUSD\|Unilever NV ADR	BUY	+3.19%	15.3M	$860M	—
BUD\|Anheuser-Busch InBev SA	BUY	NEW	7.6M	$838M	—
BUD\|Anheuser-Busch InBev SA	SELL	EXIT	—	—	—
WFC\|Wells Fargo	SELL	-0.96%	12.4M	$647M	—
BRK-B\|Berkshire Hathaway Inc Cl B	BUY	+2.00%	2.6M	$509M	—
The Swatch Group AG-BR	BUY	NEW	1.2M	$508M	—
The Swatch Group AG-BR	SELL	EXIT	—	—	—
MLM\|Martin Marietta Materials	BUY	+0.19%	2.0M	$418M	—
MO\|Altria Group Inc	SELL	EXIT	—	—	—
BTI\|British American Tobacco PLC	SELL	EXIT	—	—	—
MO\|Altria Group Inc	BUY	NEW	5.6M	$351M	—
DEO\|Diageo PLC	SELL	EXIT	—	—	—
JC Decaux SA ACT	SELL	EXIT	—	—	—
BTI\|British American Tobacco PLC	BUY	NEW	5.3M	$306M	—
BF-A\|Brown-Forman Corp Cl A	SELL	-0.17%	4.3M	$230M	—
CMCSA\|Comcast Corp New Cl A	SELL	EXIT	—	—	—
DEO\|Diageo PLC	BUY	NEW	8.4M	$284M	—
JC Decaux SA ACT	BUY	NEW	7.7M	$269M	—
CMCSA\|Comcast Corp New Cl A	BUY	NEW	7.1M	$243M	—
BF-A\|Brown-Forman Corp Cl B	BUY	+90.24%	2.8M	$153M	—
V\|Visa Inc Cl A	BUY	NEW	569.6K	$68M	—
V\|Visa Inc Cl A	SELL	EXIT	—	—	—
Diageo PLC Sponsored ADR	SELL	EXIT	—	—	—
DGED\|Diageo PLC Sponsored ADR	BUY	NEW	415.3K	$56M	—
AXP\|American Express	SELL	-0.67%	163.7K	$15M	—
XOM\|Exxon Mobil Corp	SELL	EXIT	—	—	—
FMX\|Fomento Economico Mex Sp ADR	BUY	+0.56%	138.4K	$13M	—
Swedish Match AB	BUY	NEW	272.2K	$12M	—
DANOY\|Danone ADR	SELL	-0.68%	716.5K	$12M	—
XOM\|Exxon Mobil Corp	BUY	NEW	156.6K	$12M	—
CR\|Crane	SELL	-3.92%	123.7K	$11M	—
Swedish Match AB	SELL	EXIT	—	—	—
MKL\|Markel Corp	SELL	-1.80%	8.2K	$10M	—
MLKN\|Herman Miller Inc	SELL	-3.40%	197.2K	$6M	—
OUT\|Outfront Media Inc	SELL	EXIT	—	—	—
OUT\|Outfront Media Inc	BUY	NEW	340.1K	$6M	—
KO\|Coca-Cola	SELL	-5.14%	123.7K	$5M	—
HRL\|Hormel Foods Corp	BUY	+1.30%	160.4K	$6M	—
PG\|Procter & Gamble	SELL	-12.52%	52.9K	$4M	—
DOV\|Dover Corp	SELL	-2.26%	51.8K	$5M	—
SNI\|Scripps Networks Interactive C	SELL	EXIT	—	—	—
Heineken NV	SELL	EXIT	—	—	—
Heineken NV	BUY	NEW	47.3K	$5M	—
PEP\|Pepsico Inc	SELL	-1.69%	33.6K	$4M	—
JP Morgan Chase & Co WTS Exp 1	SELL	EXIT	—	—	—
MKC\|McCormick Inc	SELL	-0.15%	33.6K	$4M	—
Nestle SA-REG	SELL	EXIT	—	—	—
WFC\|Wells Fargo WTS Exp 10/28/18	SELL	-20.20%	101.5K	$2M	—
RDS/A\|Royal Dutch Shell PLC ADR A	SELL	-9.11%	47.3K	$3M	—
DowDupont Inc	SELL	EXIT	—	—	—
Nestle SA-REG	BUY	NEW	41.0K	$3M	—
PNC\|PNC Bank Corp	SELL	-0.59%	21.0K	$3M	—
DD\|DowDupont Inc	BUY	NEW	47.5K	$3M	—
M&T Bank Corp Wts Exp 12/23/1	SELL	EXIT	—	—	—
GOOGL\|Alphabet Inc Cl C	SELL	EXIT	—	—	—
Reckitt Benckiser Group PLC	SELL	EXIT	—	—	—
BIC	SELL	EXIT	—	—	—
GOOG\|Alphabet Inc Cl C	BUY	NEW	2.2K	$2M	—
UL\|Unilever NV	BUY	NEW	39.0K	$2M	—
UL\|Unilever NV	SELL	EXIT	—	—	—
GOOGL\|Alphabet Inc Cl A	SELL	EXIT	—	—	—
CHV\|Chevron Corp	SELL	-28.29%	12.3K	$1M	—
Reckitt Benckiser Group PLC	BUY	NEW	25.5K	$2M	—
M&T Bank Corp Wts Exp 12/23/1	BUY	NEW	19.8K	$2M	—
VMC\|Vulcan Materials	BUY	+27.77%	18.8K	$2M	—
FULT\|Fulton Finl Corp	BUY	+2.94%	120.3K	$2M	—
JPM\|JP Morgan Chase & Co WTS Exp 1	BUY	NEW	30.3K	$2M	—
BIC	BUY	NEW	21.1K	$2M	—
EVF\|Eaton Vance Sr Income TR SF	BUY	NEW	291.5K	$2M	—
Lindt & Spruengli AG - Reg	BUY	NEW	27	$2M	—
Lindt & Spruengli AG - Reg	SELL	EXIT	—	—	—
GOOGL\|Alphabet Inc Cl A	BUY	NEW	1.9K	$2M	—
Eaton Vance Sr Income TR SF	SELL	EXIT	—	—	—
HEINY\|Heineken NV Spons ADR	SELL	-14.54%	30.3K	$2M	—
CFRUY\|CIE Financiere Richemont-Unsp	SELL	-15.39%	165.6K	$1M	—
KHC\|Kraft Heinz Co	BUY	+4.44%	23.5K	$1M	—
Pernod-Ricard SA-Unspon ADR	SELL	-16.46%	42.8K	$1M	—
ABBV\|AbbVie Inc	SELL	-2.84%	13.7K	$1M	—
BBTUSD\|BB&T Corp	SELL	-38.42%	16.7K	$869000	—
IBM\|I B M	SELL	-18.65%	6.2K	$947000	—
Loreal SA	SELL	EXIT	—	—	—
Loreal SA	BUY	NEW	4.8K	$1M	—
Pargesa Holding AG - B	BUY	NEW	11.8K	$1M	—
COST\|Costco Whsl Corp	BUY	NEW	5.5K	$1M	—
Pargesa Holding AG - B	SELL	EXIT	—	—	—
COST\|Costco Whsl Corp	SELL	EXIT	—	—	—
LAMR\|Lamar Advertising Co-A	SELL	-1.85%	11.9K	$760000	—
COTY\|Coty Inc-CL A	SELL	-11.92%	36.6K	$670000	—
SWGAY\|The Swatch Group AG ADR	SELL	-3.27%	37.1K	$817000	—
NLSN\|Nielsen Holdings PLC ORD	SELL	EXIT	—	—	—
Nielsen Holdings PLC ORD	BUY	NEW	23.2K	$739000	—
BMTA\|British Amern Tob PLC ADR	SELL	-4.16%	10.5K	$605000	—
A P Moller-Maersk A/S	SELL	EXIT	—	—	—
A P Moller-Maersk A/S	BUY	NEW	420	$614000	—
WMT\|Wal Mart Stores Inc	SELL	-4.79%	5.3K	$476000	—
PXDEUR\|Pioneer Nat Res	SELL	-3.70%	2.6K	$447000	—
MSFT\|Microsoft Corp	BUY	+7.95%	4.8K	$434000	—
MMM\|3M Company	SELL	EXIT	—	—	—
UNP\|Union Pac Corp	SELL	-20.75%	1.9K	$257000	—
CC\|Chemours Co	BUY	+0.31%	6.4K	$312000	—
MMM\|3M Company	BUY	NEW	1.4K	$313000	—
RHHBY\|Roche Holding AG	SELL	EXIT	—	—	—
AAPL\|Apple Computer Inc	BUY	+16.90%	1.7K	$284000	—
Monsanto	SELL	EXIT	—	—	—
Shiseido Co Ltd	SELL	EXIT	—	—	—
Groupe Danone	SELL	EXIT	—	—	—
ORLY\|O Reilly Automotive Inc	BUY	NEW	1.1K	$272000	—
DANOY\|Groupe Danone	BUY	NEW	3.3K	$265000	—
ORLY\|O Reilly Automotive Inc	SELL	EXIT	—	—	—
UNM\|Unum Group	SELL	EXIT	—	—	—
Hanjaya Mandala Sampoerna	SELL	EXIT	—	—	—
COP\|Conocophillips	SELL	EXIT	—	—	—
LT Group Inc	SELL	EXIT	—	—	—
Shiseido Co Ltd	BUY	NEW	3.5K	$223000	—
JPM\|J.P. Morgan Chase	BUY	NEW	2.0K	$220000	—
JNJ\|Johnson & Johnson	BUY	+30.42%	1.7K	$220000	—
CSFL\|Centerstate BKS FLA Inc	SELL	EXIT	—	—	—
USB\|US Bancorp	BUY	+54.07%	4.3K	$218000	—
LT Group Inc	BUY	NEW	600.0K	$216000	—
BP\|BP PLC ADR	BUY	+18.39%	5.3K	$215000	—
JPM\|J.P. Morgan Chase	SELL	EXIT	—	—	—
UNM\|Unum Group	BUY	NEW	4.5K	$214000	—
ORCL\|Oracle Corp	SELL	EXIT	—	—	—
Hanjaya Mandala Sampoerna	BUY	NEW	687.5K	$199000	—
LVMH Moet Hennessy Louis Vuitt	SELL	EXIT	—	—	—
YUSD\|Alleghany Corp	SELL	EXIT	—	—	—
Essilor International	SELL	EXIT	—	—	—
WAB\|WABCO Holdings Inc	SELL	EXIT	—	—	—
PSX\|Phillips 66	SELL	EXIT	—	—	—
Cir SPA	SELL	EXIT	—	—	—
Cir SPA	BUY	NEW	125.0K	$165000	—
Bollore	SELL	EXIT	—	—	—
MRK\|Merck Inc	SELL	EXIT	—	—	—
Bollore	BUY	NEW	30.0K	$160000	—
CL\|Colgate Palmolive	SELL	EXIT	—	—	—
UL\|Unilever PLC ADR	SELL	EXIT	—	—	—
HTLD\|Heartland Express Inc	SELL	EXIT	—	—	—
SU\|Suncor Energy Inc	SELL	EXIT	—	—	—
NKE\|Nike Inc - Cl B	SELL	EXIT	—	—	—
HAS\|Hasbro Inc	SELL	EXIT	—	—	—
Hostess Brands Inc Wts Exp 11/	BUY	NEW	57.5K	$136000	—
Remy Cointreau	SELL	EXIT	—	—	—
Hostess Brands Inc Wts Exp 11/	SELL	EXIT	—	—	—
INDV\|Indivior PLC	BUY	NEW	22.8K	$130000	—
DHR\|Danaher Corp	SELL	EXIT	—	—	—
INDV\|Indivior PLC	SELL	EXIT	—	—	—
GE\|General Electric	SELL	EXIT	—	—	—
NTRS\|Northern Trust Corp	SELL	EXIT	—	—	—
Strauss Group LTD	SELL	EXIT	—	—	—
MYLA\|Mylan NV	SELL	EXIT	—	—	—
VEC\|Vectren Corp	SELL	EXIT	—	—	—
BA\|Boeing	SELL	EXIT	—	—	—
MAT\|Mattel Inc	SELL	EXIT	—	—	—
CSL\|Carlisle Inc	SELL	EXIT	—	—	—
CAT\|Caterpillar Inc	SELL	EXIT	—	—	—
Schibsted A/S CL A	SELL	EXIT	—	—	—
YUM\|Yum Brands Inc	SELL	EXIT	—	—	—
CABO\|Cable One Inc	SELL	EXIT	—	—	—
FDX\|FedEx Corp	SELL	EXIT	—	—	—
Schibsted A/S CL B	SELL	EXIT	—	—	—
LVMUY\|LVMH Moet Hennessy Louis Vuitt	SELL	EXIT	—	—	—
AMZN\|Amazon.com Inc	SELL	EXIT	—	—	—
TCEHY\|Tencent Holdings LTD ADR	SELL	EXIT	—	—	—
NEE\|Nextera Energy Inc	SELL	EXIT	—	—	—
HD\|Home Depot Inc	SELL	EXIT	—	—	—
MHK\|Mohawk Inds Inc	SELL	EXIT	—	—	—
WLY\|John Wiley & Son Inc Cl A	SELL	EXIT	—	—	—
BK\|Bank of New York Mellon	SELL	EXIT	—	—	—
IR\|Ingersoll-Rand PLC	SELL	EXIT	—	—	—
CSX\|CSX Corp	SELL	EXIT	—	—	—
Daimler	SELL	EXIT	—	—	—
HSY\|Hershey Foods Corp	SELL	EXIT	—	—	—
GHC\|Graham Holdings Co	SELL	EXIT	—	—	—
BUD\|Anheuser-Busch InBev ADR	SELL	EXIT	—	—	—
UGI\|UGI Corp	SELL	EXIT	—	—	—
FAST\|Fastenal	SELL	EXIT	—	—	—
PFE\|Pfizer Inc	SELL	EXIT	—	—	—
WEYS\|Weyco Group Inc	SELL	EXIT	—	—	—
PZ Cussons PLC	SELL	EXIT	—	—	—
CPB\|Campbell Soup	SELL	EXIT	—	—	—
T\|A T & T Inc	SELL	EXIT	—	—	—
LMT\|Lockheed Martin Corp	SELL	EXIT	—	—	—
CELG\|Celgene Corp	SELL	EXIT	—	—	—
BMWKY\|Bayerische Motoren Werke AG	SELL	EXIT	—	—	—
Yoox S P A Shs Prive Di Valore	SELL	EXIT	—	—	—
PZ Cussons PLC	BUY	NEW	15.0K	$48000	—
YUMC\|Yum China Holdings, Inc.	SELL	EXIT	—	—	—
STZ\|Constellation Brands Inc	SELL	EXIT	—	—	—
FTV\|Fortive Corp	SELL	EXIT	—	—	—
BEN\|Franklin Resources Inc	SELL	EXIT	—	—	—
GCI\|Gannet Co Inc	SELL	EXIT	—	—	—
MUR\|Murphy Oil Corp	SELL	EXIT	—	—	—
Luxottica Group SPA ADR	SELL	EXIT	—	—	—
LOW\|Lowes Inc	SELL	EXIT	—	—	—
BAC\|Bank of America Corp 7.2500 C	SELL	EXIT	—	—	—
MAN\|Manpowergroup	SELL	EXIT	—	—	—
ACNB\|ACNB Corp	SELL	EXIT	—	—	—
WFC\|Wells Fargo 7.5000 Conv Pfd S	SELL	EXIT	—	—	—
EL\|Estee Lauder Cos Inc Cl A	SELL	EXIT	—	—	—
ELV\|Anthem Inc	SELL	EXIT	—	—	—
DJCO\|Daily Journal Corp	SELL	EXIT	—	—	—
R6C2\|Royal Dutch Shell PLC ADR B	SELL	EXIT	—	—	—
McClatchy Company Cl A	SELL	EXIT	—	—	—
MUSA\|Murphy USA Inc	SELL	EXIT	—	—	—
GWRUSD\|Genesee & Wyo Inc Cl A	SELL	EXIT	—	—	—
PTTRX\|Pimco Total Return Fund-Inst	SELL	EXIT	—	—	—
CNR\|Canadian Natl Railway Co	SELL	EXIT	—	—	—
BMNM\|Bank Mutual Corp	SELL	EXIT	—	—	—
TGBAX\|Templeton Global Bond FD	SELL	EXIT	—	—	—
MCK\|McKesson HBOC Inc	SELL	EXIT	—	—	—
Micropore Inc C CV PFD	SELL	EXIT	—	—	—
Davide Campari-Milano SPA	SELL	EXIT	—	—	—
WALMEX\|Wal-Mart De Mexico S A	SELL	EXIT	—	—	—
DE\|Deere & Co	SELL	EXIT	—	—	—
NVS\|Novartis AG ADR Sponsored	SELL	EXIT	—	—	—
VZ\|Verizon Communications	SELL	EXIT	—	—	—
WBA\|Walgreens Boots Alliance Inc	SELL	EXIT	—	—	—
NWL\|Newell Brands Inc	SELL	EXIT	—	—	—
HAIN\|Hain Celestial Group Inc	SELL	EXIT	—	—	—
KN\|Knowles Corp	SELL	EXIT	—	—	—
Bank of America Corp WTS Exp 1	SELL	EXIT	—	—	—
RAD\|Rite Aid Corp	SELL	EXIT	—	—	—
Citigroup Inc A WTS Exp 1/4/19	SELL	EXIT	—	—	—
Mirant Corp Escrow Shares	SELL	EXIT	—	—	—

Stock Click to search	Held Period	Cost Basis	Sale Proceeds	Realized Gain	Return ⓘ	CAGR ⓘ
TFC\|Truist Financial Corp	2019-Q4 → 2025-Q4 (6.0y)	$630.6K	$527.7K	$-102.9K	-16.3%	-2.9%
DEO\|Diageo PLC	2018-Q1 → 2025-Q3 (7.5y)	$1.2B	$1.2B	$+57.8M	+5.0%	+0.7%
RL\|Ralph Lauren Corp Cl A	2025-Q1 → 2025-Q3 (0.5y)	$1.0M	$1.2M	$+205.3K	+20.3%	+44.9%
HKHHY\|Heineken Holding NV ADR	2020-Q3 → 2025-Q2 (4.7y)	$907.0K	$737.1K	$-169.9K	-18.7%	-4.3%
MRK\|Merck Inc	2018-Q4 → 2025-Q2 (6.5y)	$321.3K	$385.7K	$+64.4K	+20.0%	+2.9%
BP\|BP PLC ADR	2022-Q4 → 2025-Q2 (0.2y)	$202.0K	$183.8K	$-18.3K	-9.0%	-9.0%
MDLZ\|Mondelez International Inc	2022-Q2 → 2025-Q1 (2.7y)	$279.1K	$269.9K	$-9.2K	-3.3%	-1.2%
OUT\|Outfront Media Inc	2018-Q1 → 2024-Q4 (6.7y)	$11.1M	$9.6M	$-1.5M	-13.1%	-2.1%
PRNDY\|Pernod-Ricard SA Unsponsored A	2021-Q3 → 2024-Q4 (3.2y)	$2.3M	$1.8M	$-493.3K	-21.1%	-7.0%
CTVA\|Corteva Inc	2019-Q2 → 2024-Q4 (5.5y)	$509.6K	$910.2K	$+400.6K	+78.6%	+11.2%
CSL\|Carlisle Inc	2024-Q2 → 2024-Q4 (0.5y)	$203.6K	$222.7K	$+19.1K	+9.4%	+19.7%
TT\|Trane Technologies PLC	2024-Q3 → 2024-Q4 (0.2y)	$186.1K	$214.7K	$+28.6K	+15.4%	+15.4%
DHR\|Danaher Corp	2020-Q2 → 2024-Q4 (0.2y)	$220.1K	$197.6K	$-22.5K	-10.2%	-10.2%
ASHGY\|Ashtead Group PLC ADR	2022-Q3 → 2024-Q4 (2.2y)	$62.6K	$96.3K	$+33.7K	+53.8%	+21.2%
DOW\|Dow Inc	2019-Q2 → 2024-Q3 (5.2y)	$1.1M	$1.2M	$+59.2K	+5.3%	+1.0%
DD\|Dupont De Nemours Inc	2019-Q2 → 2024-Q3 (5.2y)	$578.3K	$649.0K	$+70.7K	+12.2%	+2.2%
UL\|Unilever PLC ADR	2020-Q4 → 2024-Q2 (3.5y)	$757.3M	$645.2M	$-112.1M	-14.8%	-4.5%
CABO\|Cable One Inc	2020-Q2 → 2024-Q2 (4.0y)	$188.4M	$62.7M	$-125.8M	-66.7%	-24.1%
LVMUY\|LVMH Moet Hennessy Louis Vuitt	2021-Q4 → 2024-Q2 (0.2y)	$196.6K	$187.2K	$-9.4K	-4.8%	-4.8%
BURCA\|Burnham Hldgs Inc Cl A	2023-Q3 → 2024-Q2 (0.7y)	$125.5K	$129.3K	$+3.8K	+3.0%	+4.1%
GHC\|Graham Holdings Co	2020-Q2 → 2024-Q1 (3.7y)	$419.9K	$847.8K	$+427.9K	+101.9%	+20.7%
UL\|Unilever PLC	2020-Q4 → 2023-Q3 (2.7y)	$3.1M	$2.7M	$-471.2K	-15.0%	-5.8%
CFR\|Compagnie Financiere Richemont	2020-Q4 → 2023-Q2 (2.5y)	$1.2B	$1.9B	$+662.9M	+53.9%	+18.9%
CXT\|Crane Holdings	2022-Q2 → 2023-Q2 (1.0y)	$2.5M	$3.7M	$+1.3M	+51.1%	+51.4%
BABA\|Alibaba Group Hldg Ltd Sponsor	2021-Q1 → 2022-Q3 (1.5y)	$371.1M	$151.2M	$-219.8M	-59.2%	-45.1%
KHC\|Kraft Heinz Co	2020-Q4 → 2022-Q2 (1.5y)	$192.9K	$239.3K	$+46.4K	+24.1%	+15.5%
NKE\|Nike Inc - Cl B	2020-Q3 → 2022-Q1 (0.7y)	$205.8K	$220.2K	$+14.4K	+7.0%	+9.5%
SBUX\|Starbucks Corp	2021-Q4 → 2022-Q1 (0.2y)	$200.1K	$166.7K	$-33.4K	-16.7%	-16.7%
SHW\|Sherwin-Williams	2021-Q4 → 2022-Q1 (0.2y)	$191.6K	$158.9K	$-32.7K	-17.1%	-17.1%
BUD\|Anheuser-Busch InBev ADR	2020-Q4 → 2021-Q4 (1.0y)	$262.6K	$232.6K	$-30.0K	-11.4%	-11.4%
EVF\|Eaton Vance Sr Income TR SF	2020-Q4 → 2021-Q3 (0.7y)	$2.3M	$2.6M	$+244.7K	+10.4%	+14.2%
CC\|Chemours Co	2020-Q4 → 2021-Q2 (0.5y)	$194.1K	$281.5K	$+87.4K	+45.0%	+110.8%
MTB\|M & T Bk Corp	2018-Q4 → 2021-Q1 (2.2y)	$777.6K	$712.4K	$-65.3K	-8.4%	-3.8%
UL\|Unilever NV	2019-Q2 → 2020-Q4 (1.5y)	$3.2M	$3.1M	$-12.3K	-0.4%	-0.3%
SWGAY\|The Swatch Group AG ADR	2019-Q1 → 2020-Q2 (1.2y)	$570.6K	$405.3K	$-165.3K	-29.0%	-24.0%
ORLY\|O Reilly Automotive Inc	2018-Q1 → 2020-Q2 (2.2y)	$18.4K	$28.9K	$+10.5K	+56.8%	+22.2%
ORCL\|Oracle Corp	2018-Q3 → 2020-Q1 (1.0y)	$205.9K	$213.2K	$+7.3K	+3.5%	+3.6%
USB\|US Bancorp	2019-Q1 → 2020-Q1 (0.2y)	$207.0K	$189.2K	$-17.8K	-8.6%	-8.6%
DANOY\|Groupe Danone	2018-Q1 → 2019-Q4 (1.7y)	$54.0K	$53.8K	$-232	-0.4%	-0.2%
UL\|Unilever NV	2018-Q1 → 2019-Q2 (1.2y)	$2.4M	$2.7M	$+300.7K	+12.7%	+10.1%
DD\|DowDupont Inc	2018-Q1 → 2019-Q2 (1.2y)	$2.0M	$1.5M	$-556.3K	-27.2%	-22.5%
MMM\|3M Company	2018-Q1 → 2019-Q2 (1.2y)	$281.2K	$215.2K	$-66.0K	-23.5%	-19.3%
IBM\|I B M	2019-Q1 → 2019-Q2 (0.2y)	$197.1K	$199.5K	$+2.4K	+1.2%	+1.2%
COP\|Conocophillips	2018-Q3 → 2018-Q4 (0.2y)	$189.3K	$176.2K	$-13.1K	-6.9%	-6.9%
BTI\|British American Tobacco PLC	2018-Q1 → 2018-Q3 (0.5y)	$329.6M	$271.7M	$-57.8M	-17.6%	-32.1%
JPM\|JP Morgan Chase & Co WTS Exp 1	2018-Q1 → 2018-Q3 (0.5y)	$3.5M	$3.4M	$-60.1K	-1.7%	-3.5%
INDV\|Indivior PLC	2018-Q1 → 2018-Q2 (0.2y)	$632.2K	$704.6K	$+72.4K	+11.5%	+11.5%
UNM\|Unum Group	2018-Q1 → 2018-Q2 (0.2y)	$232.8K	$175.8K	$-57.0K	-24.5%	-24.5%

Gardner Russo & Quinn

Current Holdings for Gardner Russo & Quinn

Trading Activity for Gardner Russo & Quinn

Closed Positions for Gardner Russo & Quinn

Position Details