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 |
Alibaba
BABA
|
+$275M |
| 2 |
Cable One
CABO
|
+$82.9M |
| 3 |
Procter & Gamble
PG
|
+$683K |
| 4 |
EVF
Eaton Vance Senior Income Trust
EVF
|
+$221K |
| 5 |
Y
Alleghany Corp
Y
|
+$200K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Mastercard
MA
|
+$264M |
| 2 |
JPMorgan Chase
JPM
|
+$73.6M |
| 3 |
Unilever
UL
|
+$63.4M |
| 4 |
Berkshire Hathaway Class A
BRK.A
|
+$60.1M |
| 5 |
Martin Marietta Materials
MLM
|
+$40M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 33.36% |
| 2 | Consumer Staples | 14.56% |
| 3 | Communication Services | 11.96% |
| 4 | Materials | 4.03% |
| 5 | Consumer Discretionary | 2.35% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
McCormick & Company Non-Voting
MKC
$14.9B
| $4.46M | 0.04% |
50,000
-1,492
| -3% | -$133K |
|
27
Union Pacific
UNP
$183B
| $3.75M | 0.03% |
17,016
+67
| +0.4% | +$14.1K |
|
28
PepsiCo
PEP
$196B
| $3.26M | 0.03% |
23,049
-513
| -2% | -$70.4K |
|
29
MillerKnoll
MLKN
$1.57B
| $2.84M | 0.03% |
69,021
-68,035
| -50% | -$2.6M |
|
30
PNC Financial Services
PNC
$97B
| $2.62M | 0.02% |
14,913
-25
| -0.2% | -$4.12K |
|
|
EVF
31
Eaton Vance Senior Income Trust
EVF
$89.9M
| $2.39M | 0.02% |
360,956
+33,533
| +10% | +$221K |
|
32
Alphabet (Google) Class A
GOOGL
$4.22T
| $2.22M | 0.02% |
21,540
-3,080
| -13% | -$304K |
|
|
SWZ
33
Swiss Helvetia Fund
SWZ
$76.9M
| $1.97M | 0.02% |
224,346
+3,418
| +2% | +$30.8K |
|
34
Costco
COST
$420B
| $1.87M | 0.02% |
5,294
-101
| -2% | -$35.2K |
|
35
Fomento Económico Mexicano
FMX
$41.1B
| $1.78M | 0.02% |
23,621
-17,020
| -42% | -$1.24M |
|
36
Abbott
ABT
$202B
| $1.44M | 0.01% |
11,975
| – | – |
|
37
DuPont de Nemours
DD
$18.7B
| $1.38M | 0.01% |
14,255
-190
| -1% | -$18.2K |
|
38
AbbVie
ABBV
$468B
| $1.36M | 0.01% |
12,610
| – | – |
|
39
Fulton Financial
FULT
$4.51B
| $1.27M | 0.01% |
74,421
-250
| -0.3% | -$3.87K |
|
40
Coca-Cola
KO
$392B
| $1.23M | 0.01% |
23,327
-24,002
| -51% | -$1.21M |
|
41
Dow Inc
DOW
$23.4B
| $1.2M | 0.01% |
18,795
-208
| -1% | -$12.4K |
|
42
Walt Disney
DIS
$186B
| $960K | 0.01% |
5,202
| – | – |
|
43
Microsoft
MSFT
$3.59T
| $843K | 0.01% |
3,577
-50
| -1% | -$11.6K |
|
44
Apple
AAPL
$4.51T
| $775K | 0.01% |
6,348
-2,400
| -27% | -$308K |
|
45
Lamar Advertising Co
LAMR
$15.3B
| $755K | 0.01% |
8,035
-90
| -1% | -$7.93K |
|
46
Corteva
CTVA
$54.6B
| $721K | 0.01% |
15,462
-369
| -2% | -$16.3K |
|
47
Graham Holdings Company
GHC
$4.94B
| $645K | 0.01% |
1,146
-17
| -1% | -$9.85K |
|
48
Truist Financial
TFC
$61.6B
| $616K | 0.01% |
10,555
+41
| +0.4% | +$2.25K |
|
49
Walmart Inc
WMT
$825B
| $609K | 0.01% |
13,440
| – | – |
|
50
McDonald's
MCD
$192B
| $511K | ﹤0.01% |
2,280
| – | – |
|
Similar funds
Thomas Russo's Q1 2021 Portfolio in Review
As of Q1 2021, Thomas Russo held 94 positions worth $11B, down 0.56% from $11B the previous quarter. Its ten largest holdings account for 76% of the portfolio.
Thomas Russo withdrew a net $356M in Q1 2021, closing 4 positions and reducing 59 holdings. Its most notable exit was Diageo, an estimated $10.4M position sold in full.
By sector, the portfolio is most concentrated in Financials at 33% of assets, down from 35% a quarter earlier, followed by Consumer Staples and Communication Services.
Against the trend, Thomas Russo opened a new position in Alibaba worth $254M.
- Thomas Russo's largest Q1 2021 buy was Alibaba: 1,119,994 shares worth $254M.
- Thomas Russo added most to Cable One in Q1 2021, an estimated $82.9M increase.
- Thomas Russo's biggest Q1 2021 reduction was Mastercard, cutting an estimated $264M.
- Thomas Russo fully exited Diageo in Q1 2021, selling an estimated $10.4M.
- Thomas Russo's ten largest holdings make up 76% of its $11B portfolio in Q1 2021.
- Thomas Russo opened 2 new positions and closed 4 in Q1 2021.
- Thomas Russo's portfolio value fell 0.56% quarter-over-quarter to $11B.
Based on Gardner Russo & Quinn's 13F filing for Q1 2021, filed 12 May 2021.