13F-HR 1 inftable.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: September 30, 2011 Check here if Amendment [ ]; Amendment Number: ______ This Amendment (Check only one.): [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Gardner Russo & Gardner Address: 223 East Chestnut Street Lancaster, PA 17602 Form 13F File Number: 028-2635 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Diana Crumay Title: Head Account Administrator Phone: (717) 299-1385 Signature, Place, and Date of Signing: Lancaster, PA November 10, 2011 ------------------------ ----------------------------- ------------------ [Signature] [City, State] [Date] Report Type (Check only one.): [X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [ ] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) [ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) List of Other Managers Reporting for this Manager: None FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 255 Form 13F Information Table Value Total: 4,750,748 (thousands) List of Other Included Managers: None FORM 13F INFORMATION TABLE VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- Aes TR III TR P CV SC 6.750% CONV 00808n202 172 3500 SH Sole 3500 Micropore Inc C CV PFD CONV 595998816 25 2750 SH Sole 2750 Berner Gruppen PFD PFD r10549112 186 3701 SH Sole 701 3000 Eaton Vance Mut Fds TR FLT SH BEN INT 277923660 15 1467 SH Sole 1467 Eaton Vance Sr Income TR SF SH BEN INT 27826s103 863 136708 SH Sole 136708 Federated Capital Inc FD A SH BEN INT 31420c878 9 1283 SH Sole 1283 Federated Inc Secs USGVT A SH BEN INT 31420c704 15 1887 SH Sole 1887 3M Company COM 88579y101 321 4475 SH Sole 475 4000 A T & T Inc COM 00206r102 213 7453 SH Sole 7375 78 Abbott Labs COM 002824100 21744 425177 SH Sole 377877 47300 Acco Brands Corp COM 00081t108 0 14 SH Sole 14 ACNB Corp COM 000868109 12 881 SH Sole 881 Alleghany Corp COM 017175100 134 465 SH Sole 228 237 Alliance One Internatl Inc COM 018772103 13 5500 SH Sole 5500 Allied Irish Banks ADR COM 019228808 0 338 SH Sole 338 Altria Group Inc COM 02209s103 190461 7104090 SH Sole 6601821 502269 America Movil ADR COM 02364w105 26 1200 SH Sole 1200 American Express COM 025816109 5175 115250 SH Sole 107500 7750 American Tower Corp Cl A COM 029912201 3838 71330 SH Sole 71330 Amgen Inc COM 031162100 5 100 SH Sole 100 Anheuser-Busch InBev ADR COM 03524a108 161979 3057353 SH Sole 2826528 230825 AOL Inc COM 00184x105 0 30 SH Sole 30 Apollo Group Inc Cl A COM 037604105 20 500 SH Sole 500 Aptargroup Inc COM 038336103 799 17884 SH Sole 16884 1000 Associated Banc Corp COM 045487105 4 390 SH Sole 390 Astropower Inc COM 04644a101 0 150 SH Sole 150 Automatic Data Processing COM 053015103 52 1100 SH Sole 1100 Avon Products Inc COM 054303102 1 75 SH Sole 75 Baidu Inc Spons ADR COM 056752108 14 135 SH Sole 135 Banco Santander SA ADR COM 05964H105 1 146 SH Sole 146 Bank Amer Corp COM 060505104 6 1000 SH Sole 1000 Bank of New York Mellon COM 064058100 37 2000 SH Sole 2000 Barrick Gold Corp COM 067901108 8 165 SH Sole 165 BB&T Corp COM 054937107 536 25150 SH Sole 25150 Berkshire Hathaway Inc Cl A COM 084670108 409471 3834 SH Sole 3507 327 Berkshire Hathaway Inc Cl B COM 084670702 108152 1522415 SH Sole 1360869 161546 Boeing COM 097023105 33 550 SH Sole 550 BP PLC ADR COM 055622104 288 7976 SH Sole 7516 460 Bristol Myers Squibb COM 110122108 94 3000 SH Sole 3000 British Amern Tob PLC ADR COM 110448107 320 3775 SH Sole 3575 200 Brown-Forman Corp Cl A COM 115637100 117417 1727738 SH Sole 1600551 127188 Brown-Forman Corp Cl B COM 115637209 7215 102860 SH Sole 90639 12221 Burnham Hldgs Inc Cl A COM 122295108 14 1000 SH Sole 400 600 Campbell Soup COM 134429109 52 1600 SH Sole 1600 Carlisle Inc COM 142339100 371 11634 SH Sole 11634 Caterpillar Inc COM 149123101 20 275 SH Sole 275 Cheung Kong LTD ADR COM 166744201 7 650 SH Sole 650 Chevron Corp COM 166764100 5986 64646 SH Sole 63421 1225 Chubb Corp COM 171232101 6 100 SH Sole 100 Church & Dwight Inc COM 171340102 27 600 SH Sole 600 Churchill Downs Inc COM 171484108 4 100 SH Sole 100 CIE Financiere Richemont-Unsp COM 204319107 574 127400 SH Sole 96650 30750 Cincinnati Finl Corp COM 172062101 4 150 SH Sole 150 Cisco Sys Inc COM 17275r102 915 59000 SH Sole 59000 Coca-Cola COM 191216100 4796 70986 SH Sole 55760 15226 Colgate Palmolive COM 194162103 22 250 SH Sole 250 Comcast Corp New Cl A COM 20030n101 626 29921 SH Sole 29677 244 Comcast Corp Special Cl A COM 20030n200 142917 6897524 SH Sole 6376506 521018 Conocophillips COM 20825c104 1513 23891 SH Sole 22791 1100 Constellation Brands Inc COM 21036p108 4 200 SH Sole 200 Corning Inc COM 219350105 22 1750 SH Sole 1750 Costco Whsl Corp COM 22160k105 1984 24160 SH Sole 23360 800 Crane COM 224399105 6851 191947 SH Sole 170442 21505 Daimler COM d1668r123 44 1002 SH Sole 1002 Danaher Corp COM 235851102 294 7012 SH Sole 7012 Danone ADR COM 23636T100 2762 222750 SH Sole 144500 78250 Deere & Co COM 244199105 665 10300 SH Sole 10075 225 Dentsply Intl Inc COM 249030107 31 1000 SH Sole 1000 Diageo PLC Sponsored ADR COM 25243q205 34987 460782 SH Sole 405689 55093 Discover Finl Svcs COM 254709108 64 2800 SH Sole 2500 300 Disney Walt Productions COM 254687106 428 14175 SH Sole 13325 850 Dover Corp COM 260003108 2944 63175 SH Sole 51675 11500 Du Pont E I De Nemours COM 263534109 687 17184 SH Sole 17184 EMC Corp COM 268648102 47 2250 SH Sole 2250 Emerson Electric Co COM 291011104 8 200 SH Sole 200 Entergy Corp COM 29364g103 7 100 SH Sole 100 Expeditors Intl Wash Inc COM 302130109 122 3000 SH Sole 3000 Exxon Mobil Corp COM 30231g102 13911 191538 SH Sole 176941 14597 Fastenal COM 311900104 27 800 SH Sole 800 FedEx Corp COM 31428x106 16 240 SH Sole 240 Fomento Economico Mex Sp ADR COM 344419106 6749 104119 SH Sole 68944 35175 Ford Motor COM 345370860 10 1000 SH Sole 1000 Fortune Brands Inc COM 349631101 11 200 SH Sole 200 Freeport McMoran Copper & Gold COM 35671d857 26 850 SH Sole 850 Fulton Finl Corp COM 360271100 747 97591 SH Sole 74981 22610 Gannett Inc COM 364730101 8 850 SH Sole 750 100 General Dynamics Corp COM 369550108 705 12400 SH Sole 12400 General Electric COM 369604103 207 13625 SH Sole 12455 1170 General Mills Inc COM 370334104 19 500 SH Sole 500 Genesee & Wyo Inc Cl A COM 371559105 10 225 SH Sole 225 Glatfelter P H COM 377316104 15 1100 SH Sole 400 700 Goldman Sachs Group Inc COM 38141g104 5992 63375 SH Sole 57625 5750 Google Inc Cl A COM 38259p508 296 575 SH Sole 575 Grupo Televisa SA DE CV ORD COM 40049j206 4 225 SH Sole 225 Hain Celestial Group Inc COM 405217100 3 100 SH Sole 100 Hasbro Inc COM 418056107 30870 946654 SH Sole 875616 71038 Healthsouth Corp COM 421924309 66 4400 SH Sole 4400 Heartland Express Inc COM 422347104 261 19232 SH Sole 17032 2200 Heineken NV Unspons ADR COM 423012202 699 31087 SH Sole 25487 5600 Heinz H J Company COM 423074103 30 600 SH Sole 600 Herman Miller Inc COM 600544100 8172 457561 SH Sole 408111 49450 Hershey Foods Corp COM 427866108 33 555 SH Sole 555 Hewlett Packard COM 428236103 11 500 SH Sole 500 Hill Rom Holdings Inc COM 431475102 45 1500 SH Sole 1500 Hillenbrand Inc COM 431571108 28 1500 SH Sole 1500 Home Depot Inc COM 437076102 130 3950 SH Sole 3950 Honeywell Intl Inc COM 438516106 24 550 SH Sole 550 Hormel Foods Corp COM 440452100 5938 219779 SH Sole 181579 38200 I B M COM 459200101 1941 11102 SH Sole 6002 5100 Imperial Tobacco PLC ADR COM 453142101 10 150 SH Sole 150 Intel Corp COM 458140100 36 1710 SH Sole 1710 J.P. Morgan Chase COM 46625h100 693 23000 SH Sole 5000 18000 John Wiley & Son Inc Cl A COM 968223206 111 2500 SH Sole 2500 Johnson & Johnson COM 478160104 831 13051 SH Sole 12751 300 Kellogg COM 487836108 36 675 SH Sole 675 Keycorp New COM 493267108 1 100 SH Sole 100 Kraft Foods Inc CL A COM 50075n104 107 3188 SH Sole 2688 500 Lamar Advertising Cl A COM 512815101 270 15850 SH Sole 14740 1110 Leucadia Natl Corp COM 527288104 901 39715 SH Sole 39715 Lexington Corp PPTYS TR COM 529043101 157 23957 SH Sole 23957 Lockheed Martin Corp COM 539830109 25 350 SH Sole 350 Lowes Inc COM 548661107 11 550 SH Sole 550 Luxottica SPA Miliano ADR COM 55068r202 10 410 SH Sole 410 Manpowergroup COM 56418h100 23 678 SH Sole 678 Markel Corp COM 570535104 7998 22394 SH Sole 20564 1830 Martin Marietta Materials COM 573284106 99239 1569735 SH Sole 1458107 111628 Mastercard Inc Cl A COM 57636q104 239359 754696 SH Sole 691355 63341 Mattel Inc COM 577081102 586 22625 SH Sole 21125 1500 McClatchy Company Cl A COM 579489105 7 5000 SH Sole 5000 McCormick Inc COM 579780206 4358 94416 SH Sole 66816 27600 McDonalds Corp COM 580135101 662 7535 SH Sole 7385 150 McKesson HBOC Inc COM 58155q103 31 425 SH Sole 425 Meadwestvaco Corp COM 583334107 44 1807 SH Sole 1300 507 Medco Health Solutions COM 58405u102 32 682 SH Sole 682 Medtronic Inc COM 585055106 70 2100 SH Sole 2100 Merck Inc COM 58933Y105 248 7586 SH Sole 5586 2000 Meritor Svgs BK PA COM 590007100 13 3000 SH Sole 3000 Microsoft Corp COM 594918104 3160 126947 SH Sole 123667 3280 Mirant Corp Escrow Shares COM 604675991 0 500 SH Sole 500 Modine Mfg COM 607828100 5 600 SH Sole 600 Monsanto COM 61166w101 131 2190 SH Sole 1725 465 Morgan Stanley Dean Witter COM 617446448 3 200 SH Sole 200 Murphy Oil Corp COM 626717102 57 1300 SH Sole 1300 Mylan Labs Inc COM 628530107 59 3500 SH Sole 3500 National Penn Bancshares COM 637138108 33 4644 SH Sole 4644 Nestle SA-Spons. ADR COM 641069406 549656 9965126 SH Sole 9132759 832367 Newell Rubbermaid Inc COM 651229106 3 250 SH Sole 250 News Corp Cl A COM 65248e104 10 625 SH Sole 625 News Corp Cl B COM 65248e203 62 4000 SH Sole 4000 Nextera Energy Inc COM 65339F101 162 3000 SH Sole 3000 Northern Trust Corp COM 665859104 175 5000 SH Sole 5000 Novartis AG ADR Sponsored COM 66987v109 7 125 SH Sole 125 Nuveen PA Invt Qual MUN FD COM 670972108 24 1630 SH Sole 1630 Occidental Petroleum Corp COM 674599105 9 125 SH Sole 125 Omnicom Group COM 681919106 70 1900 SH Sole 1600 300 Oracle Corp COM 68389x105 68 2375 SH Sole 2375 Pentair Inc COM 709631105 3 100 SH Sole 100 Pepsico Inc COM 713448108 5454 88105 SH Sole 81405 6700 Pernod-Ricard SA-Unspon ADR COM 714264207 536 33955 SH Sole 26455 7500 Pfizer Inc COM 717081103 34 1900 SH Sole 1900 Philip Morris International In COM 718172109 512028 8208203 SH Sole 7556856 651347 Pioneer Nat Res COM 723787107 368 5600 SH Sole 5600 PNC Bank Corp COM 693475105 1820 37774 SH Sole 33974 3800 PPG Inds Inc COM 693506107 76 1075 SH Sole 275 800 PPL Corp COM 69351t106 11 400 SH Sole 400 Praxair Inc COM 74005p104 3262 34900 SH Sole 29600 5300 Precision Castparts Corp COM 740189105 1026 6600 SH Sole 6600 Procter & Gamble COM 742718109 11760 186137 SH Sole 164837 21300 Progressive Corp Ohio COM 743315103 2151 121132 SH Sole 100354 20778 Ralcorp Hldgs Inc New COM 751028101 32 418 SH Sole 418 Renaissancere Hldgs LTD COM g7496g103 3 40 SH Sole 40 Rite Aid Corp COM 767754104 3 3500 SH Sole 3500 Royal Dutch Shell PLC ADR A COM 780259206 4098 66619 SH Sole 49369 17250 Royal Dutch Shell PLC ADR B COM 780259107 27 437 SH Sole 437 S Y Bancorp Inc COM 785060104 24 1271 SH Sole 1271 SABMiller PLC Sponsored ADR COM 78572m105 622 18950 SH Sole 14350 4600 Schlumberger LTD COM 806857108 390 6525 SH Sole 6525 Schulman A Inc COM 808194104 8 467 SH Sole 467 Scotts Miracle-Gro Cl A COM 810186106 232 5200 SH Sole 2450 2750 Scripps Networks Interactive C COM 811065101 60176 1618953 SH Sole 1496987 121966 Siemens AG ADR COM 826197501 22 250 SH Sole 250 Smucker J M COM 832696405 37 506 SH Sole 506 Staples Inc COM 855030102 3007 226080 SH Sole 211130 14950 Susquehanna Bancshrs Inc COM 869099101 107 19581 SH Sole 19581 Swiss Helvetia FD Inc COM 870875101 252 22500 SH Sole 22500 Target Corp COM 87612e106 27 549 SH Sole 200 349 Thomson Reuters Corp COM 884903105 32 1200 SH Sole 1200 Tiffany COM 886547108 3 50 SH Sole 50 Tigerlogic Corp COM 8867eq101 27 10000 SH Sole 10000 Tim Hortons Inc COM 88706m103 9 200 SH Sole 200 Time Warner Cable Inc Cl A COM 88732J207 8 123 SH Sole 123 Time Warner Inc COM 887317303 31 1049 SH Sole 1049 Tootsie Roll Inds Inc COM 890516107 37 1547 SH Sole 1547 Total S A-Spon ADR COM 89151e109 61 1400 SH Sole 1400 UNB Corp PA COM 903057107 12 105 SH Sole 105 Unilever NV ADR COM 904784709 208967 6635977 SH Sole 6092977 543000 Unilever PLC ADR COM 904767704 19 600 SH Sole 600 Union Pac Corp COM 907818108 94 1150 SH Sole 1150 United Overseas BK LTD ADR COM 911271302 8 325 SH Sole 325 United Techn Corp COM 913017109 28 400 SH Sole 400 Unum Group COM 91529y106 160 7650 SH Sole 7650 US Global Investors COM 902952100 46 6750 SH Sole 6750 Vale SA-SP ADR COM 91912e105 11 500 SH Sole 500 Vectren Corp COM 92240g101 43 1599 SH Sole 1599 Verizon Communications COM 92343v104 42 1150 SH Sole 1150 Visa Inc Cl A COM 92826c839 5963 69565 SH Sole 67140 2425 Vodafone Group Inc COM 92857w209 1 50 SH Sole 50 Vornado RLTY TR COM 929042109 746 10000 SH Sole 10000 Vulcan Materials COM 929160109 956 34675 SH Sole 31925 2750 Wal Mart Stores Inc COM 931142103 1011 19478 SH Sole 17224 2254 Walgreen Company COM 931422109 67 2050 SH Sole 2050 Washington Post Cl B COM 939640108 40681 124419 SH Sole 116472 7947 Wellpoint Inc COM 94973v107 13 204 SH Sole 204 Wells Fargo COM 949746101 208846 8658622 SH Sole 8008628 649995 Whole Foods Mkt Inc COM 966837106 24 375 SH Sole 375 Yahoo Inc COM 984332106 3 200 SH Sole 200 Yum Brands Inc COM 988498101 198 4000 SH Sole 4000 Bank of America Corp WTS Exp 1 WTS 060505153 2 2000 SH Sole 2000 Citigroup Inc A WTS Exp 1/4/19 WTS 172967226 1 2000 SH Sole 2000 JP Morgan Chase & Co WTS Exp 1 WTS 46634e114 631 67800 SH Sole 67800 Wells Fargo WTS Exp 10/28/18 WTS 949746119 1172 152250 SH Sole 152250 A P Moller-Maersk A/S COM k0514g135 935 165 SH Sole 34 131 Anglo American PLC COM g03764134 365 10500 SH Sole 3000 7500 Bank of Montreal COM 063671101 9 157 SH Sole 157 Barry Callebaut AG COM h05072105 253 300 SH Sole 100 200 Bayerische Motoren Werke AG COM d12096109 50 750 SH Sole 500 250 Berner Gruppen COM r10549104 5753 116454 SH Sole 103104 13350 BIC COM f10080103 2423 28225 SH Sole 9425 18800 Bollore COM f10659112 23 105 SH Sole 105 British American Tobacco PLC COM g1510j102 177192 4168778 SH Sole 3838227 330551 CFAO COM f2015w102 23 640 SH Sole 640 Cir SPA COM t28980125 155 81500 SH Sole 81500 Compagnie Financiere Richemont COM h25662158 279575 6201168 SH Sole 5714050 487118 Daily Mail & Gen TST - A COM g26236128 24 4264 SH Sole 4264 Diageo PLC COM g42089113 123716 6446169 SH Sole 5939616 506553 Groupe Danone COM f12033134 279 4500 SH Sole 4500 Heineken Holding NV COM n39338194 282767 7283645 SH Sole 6719056 564589 Heineken NV COM n39427211 4055 90103 SH Sole 35751 54352 Imperial Tobacco Group PLC COM g4721w102 262 7750 SH Sole 7000 750 JC Decaux SA ACT COM f5333n100 25834 1031051 SH Sole 875016 156035 Lindt & Spruengli AG - Reg COM h49983176 1249 36 SH Sole 6 30 Loreal SA COM 4057808 133 1350 SH Sole 1350 NHST Media Group COM r4700l117 1943 19009 SH Sole 18677 332 Pargesa Holding AG - B COM h60477207 2533 36750 SH Sole 14250 22500 Pernod Ricard COM f72027109 236789 2999888 SH Sole 2782572 217316 Reckitt Benckiser Group PLC COM g74079107 286 5600 SH Sole 5600 Roche Holding AG COM 001203204 255 1575 SH Sole 1575 SABMiller PLC COM g77395104 271037 8255601 SH Sole 7645190 610411 Schibsted A/S COM r75677105 142 6587 SH Sole 6587 Strauss Group LTD COM M8553H110 33 2500 SH Sole 2500 Suncor Energy Inc COM 867224107 103 4000 SH Sole 4000 Swedish Match AB COM w92277115 14729 443700 SH Sole 338400 105300 Syngenta AG COM h84140112 190 725 SH Sole 725 The Swatch Group AG-BR COM h83949141 13981 42008 SH Sole 33538 8470 Wal-Mart De Mexico S A COM p98180105 52 22650 SH Sole 22650