Thomas Russo Gardner Russo & Quinn
Thomas Russo is a partner at Gardner Russo & Quinn and one of the best-known global value investors focused on consumer franchises. He is closely associated with long-term ownership of branded businesses that can reinvest abroad, often summarized as capacity to suffer and capacity to reinvest. Russo’s talks and holdings are staples in global quality-value circles.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Wells Fargo
WFC
|
+$29.8M |
| 2 |
AB InBev
BUD
|
+$8.15M |
| 3 |
Brown-Forman Class B
BF.B
|
+$3.74M |
| 4 |
Mastercard
MA
|
+$3.41M |
| 5 |
Berkshire Hathaway Class B
BRK.B
|
+$1.02M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Philip Morris
PM
|
+$17.7M |
| 2 |
Brown-Forman Class A
BF.A
|
+$4.44M |
| 3 |
Berkshire Hathaway Class A
BRK.A
|
+$3.29M |
| 4 |
Martin Marietta Materials
MLM
|
+$3.1M |
| 5 |
Comcast
CMCSA
|
+$2.33M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 27.44% |
| 2 | Financials | 26.8% |
| 3 | Materials | 3.11% |
| 4 | Communication Services | 2.73% |
| 5 | Energy | 0.18% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
JPM.WS
26
DELISTED
JPMorgan Chase
JPM.WS
| $5.78M | 0.05% |
234,750
+1,500
| +0.6% | +$35.2K |
|
27
Dover
DOV
$27.2B
| $4.59M | 0.04% |
77,160
+2,786
| +4% | +$161K |
|
28
PepsiCo
PEP
$196B
| $4.03M | 0.03% |
37,062
+1,914
| +5% | +$206K |
|
29
Chevron
CVX
$403B
| $3.66M | 0.03% |
35,542
-2,997
| -8% | -$306K |
|
30
McCormick & Company Non-Voting
MKC
$14.9B
| $3.5M | 0.03% |
70,010
-4,900
| -7% | -$248K |
|
|
MTB.WS
31
DELISTED
M&T Bank Corporation
MTB.WS
| $3.47M | 0.03% |
82,139
| – | – |
|
|
WFC.WS
32
DELISTED
Wells Fargo & Company Ws
WFC.WS
| $3.35M | 0.03% |
268,000
+10,000
| +4% | +$145K |
|
33
Microsoft
MSFT
$3.59T
| $2.91M | 0.02% |
50,550
+400
| +0.8% | +$22.6K |
|
|
RDS.A
34
DELISTED
Royal Dutch Shell PLC ADS Class A
RDS.A
| $2.9M | 0.02% |
59,968
-1,782
| -3% | -$87.1K |
|
|
DD
35
DELISTED
Du Pont De Nemours E I
DD
| $2.52M | 0.02% |
37,687
-29
| -0.1% | -$1.97K |
|
36
PNC Financial Services
PNC
$97B
| $2.15M | 0.02% |
23,810
+7,600
| +47% | +$652K |
|
37
Kraft Heinz
KHC
$30.3B
| $1.92M | 0.02% |
21,450
| – | – |
|
|
EVF
38
Eaton Vance Senior Income Trust
EVF
$89.9M
| $1.85M | 0.02% |
286,696
-1,549
| -0.5% | -$9.63K |
|
39
IBM
IBM
$222B
| $1.71M | 0.01% |
11,243
-550
| -5% | -$83.5K |
|
40
Walmart Inc
WMT
$825B
| $1.64M | 0.01% |
68,325
-11,700
| -15% | -$284K |
|
41
Goldman Sachs
GS
$303B
| $1.51M | 0.01% |
9,393
| – | – |
|
42
Truist Financial
TFC
$61.6B
| $1.43M | 0.01% |
37,787
-3,693
| -9% | -$138K |
|
43
Fulton Financial
FULT
$4.51B
| $1.36M | 0.01% |
93,443
+58,513
| +168% | +$821K |
|
44
Alphabet (Google) Class C
GOOG
$4.18T
| $1.32M | 0.01% |
34,080
| – | – |
|
|
45
Alphabet (Google) Class A
GOOGL
$4.22T
| $1.28M | 0.01% |
31,740
| – | – |
|
46
AbbVie
ABBV
$468B
| $1.08M | 0.01% |
17,106
| – | – |
|
47
Costco
COST
$420B
| $994K | 0.01% |
6,516
| – | – |
|
48
Lamar Advertising Co
LAMR
$15.3B
| $913K | 0.01% |
13,985
-675
| -5% | -$43.6K |
|
49
Bank of America
BAC
$431B
| $800K | 0.01% |
51,100
| – | – |
|
50
British American Tobacco
BTI
$121B
| $702K | 0.01% |
10,992
-40
| -0.4% | -$2.54K |
|
Similar funds
Thomas Russo's Q3 2016 Portfolio in Review
As of Q3 2016, Thomas Russo held 108 positions worth $12B, up 0.66% from $11.9B the previous quarter. Its ten largest holdings account for 74% of the portfolio.
Thomas Russo's Q3 2016 filing shows 3 new, 24 increased, 38 reduced and 8 closed positions. Its largest new stake was Vulcan Materials: 4,900 shares worth $557K. The largest sale was Philip Morris, an estimated $17.7M.
By sector, the portfolio is most concentrated in Consumer Staples at 27% of assets, down from 29% a quarter earlier, followed by Financials and Materials.
- Thomas Russo's largest Q3 2016 buy was Vulcan Materials: 4,900 shares worth $557K.
- Thomas Russo added most to Wells Fargo in Q3 2016, an estimated $29.8M increase.
- Thomas Russo's biggest Q3 2016 reduction was Philip Morris, cutting an estimated $17.7M.
- Thomas Russo fully exited Pfizer in Q3 2016, selling an estimated $701K.
- Thomas Russo's ten largest holdings make up 74% of its $12B portfolio in Q3 2016.
- Thomas Russo opened 3 new positions and closed 8 in Q3 2016.
- Thomas Russo's portfolio value rose 0.66% quarter-over-quarter to $12B.
Based on Gardner Russo & Quinn's 13F filing for Q3 2016, filed 14 Nov 2016.