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 |
Alphabet (Google) Class C
GOOG
|
+$70.8M |
| 2 |
Wells Fargo
WFC
|
+$6.96M |
| 3 |
Vulcan Materials
VMC
|
+$241K |
| 4 |
Outfront Media
OUT
|
+$23K |
| 5 |
Costco
COST
|
+$21.9K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Altria Group
MO
|
+$78.4M |
| 2 |
Mastercard
MA
|
+$66.9M |
| 3 |
Berkshire Hathaway Class A
BRK.A
|
+$23.5M |
| 4 |
Philip Morris
PM
|
+$18.6M |
| 5 |
Berkshire Hathaway Class B
BRK.B
|
+$14.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 33.26% |
| 2 | Consumer Staples | 15.62% |
| 3 | Communication Services | 4.52% |
| 4 | Materials | 3.79% |
| 5 | Energy | 0.11% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
McCormick & Company Non-Voting
MKC
$14.9B
| $4.49M | 0.04% |
57,500
-450
| -0.8% | -$36.2K |
|
27
Dover
DOV
$27.2B
| $4.21M | 0.03% |
42,265
-1,236
| -3% | -$119K |
|
28
PepsiCo
PEP
$196B
| $3.53M | 0.03% |
25,745
-531
| -2% | -$70.5K |
|
29
PNC Financial Services
PNC
$97B
| $2.45M | 0.02% |
17,463
-33
| -0.2% | -$4.48K |
|
|
30
Alphabet (Google) Class A
GOOGL
$4.22T
| $2.25M | 0.02% |
36,880
| – | – |
|
|
RDS.A
31
DELISTED
Royal Dutch Shell PLC ADS Class A
RDS.A
| $1.95M | 0.02% |
33,165
-450
| -1% | -$26.7K |
|
32
Fulton Financial
FULT
$4.51B
| $1.9M | 0.01% |
117,524
| – | – |
|
|
EVF
33
Eaton Vance Senior Income Trust
EVF
$89.9M
| $1.82M | 0.01% |
297,240
-4,855
| -2% | -$30K |
|
|
34
Costco
COST
$420B
| $1.49M | 0.01% |
5,170
+78
| +2% | +$21.9K |
|
35
Bank of America
BAC
$431B
| $1.43M | 0.01% |
48,975
| – | – |
|
36
JPMorgan Chase
JPM
$935B
| $1.21M | 0.01% |
10,318
-1,830
| -15% | -$207K |
|
37
DuPont de Nemours
DD
$18.7B
| $1.08M | 0.01% |
12,067
-127
| -1% | -$11.2K |
|
38
Chevron
CVX
$403B
| $1.07M | 0.01% |
9,048
-220
| -2% | -$26.7K |
|
39
Abbott
ABT
$202B
| $1.01M | 0.01% |
12,110
| – | – |
|
40
AbbVie
ABBV
$468B
| $985K | 0.01% |
13,010
| – | – |
|
41
Dow Inc
DOW
$23.4B
| $715K | 0.01% |
15,004
-235
| -2% | -$11K |
|
42
M&T Bank
MTB
$34.7B
| $685K | 0.01% |
4,337
-249
| -5% | -$39.2K |
|
43
Lamar Advertising Co
LAMR
$15.3B
| $666K | 0.01% |
8,125
-263
| -3% | -$20.8K |
|
44
McDonald's
MCD
$192B
| $638K | 0.01% |
2,970
| – | – |
|
45
Walmart Inc
WMT
$825B
| $576K | ﹤0.01% |
14,565
| – | – |
|
46
Walt Disney
DIS
$186B
| $563K | ﹤0.01% |
4,323
-60
| -1% | -$8.3K |
|
47
Truist Financial
TFC
$61.6B
| $547K | ﹤0.01% |
10,250
+50
| +0.5% | +$2.48K |
|
48
Microsoft
MSFT
$3.59T
| $528K | ﹤0.01% |
3,795
| – | – |
|
49
Apple
AAPL
$4.51T
| $469K | ﹤0.01% |
8,380
| – | – |
|
50
O'Reilly Automotive
ORLY
$72.1B
| $399K | ﹤0.01% |
15,000
| – | – |
|
Similar funds
Thomas Russo's Q3 2019 Portfolio in Review
As of Q3 2019, Thomas Russo held 97 positions worth $12.8B, down 2.3% from $13.2B the previous quarter. Its ten largest holdings account for 77% of the portfolio.
Trading was light in Q3 2019: portfolio turnover was 4.1%. Thomas Russo opened 1 new position and exited 3, leaving the 97-position portfolio largely intact.
By sector, the portfolio is most concentrated in Financials at 33% of assets, up from 33% a quarter earlier, followed by Consumer Staples and Communication Services.
- Thomas Russo added most to Alphabet (Google) Class C in Q3 2019, an estimated $70.8M increase.
- Thomas Russo's biggest Q3 2019 reduction was Altria Group, cutting an estimated $78.4M.
- Thomas Russo fully exited AB InBev in Q3 2019, selling an estimated $371K.
- Thomas Russo's ten largest holdings make up 77% of its $12.8B portfolio in Q3 2019.
- Thomas Russo opened 1 new position and closed 3 in Q3 2019.
- Thomas Russo's portfolio value fell 2.3% quarter-over-quarter to $12.8B.
Based on Gardner Russo & Quinn's 13F filing for Q3 2019, filed 13 Nov 2019.