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
|
+$23.9M |
| 2 |
Union Pacific
UNP
|
+$234K |
| 3 |
ExxonMobil
XOM
|
+$73.4K |
| 4 |
Altria Group
MO
|
+$55.1K |
| 5 |
Apple
AAPL
|
+$43.7K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Mastercard
MA
|
+$91.7M |
| 2 |
JPMorgan Chase
JPM
|
+$42.8M |
| 3 |
Berkshire Hathaway Class A
BRK.A
|
+$42.7M |
| 4 |
Alphabet (Google) Class C
GOOG
|
+$41.5M |
| 5 |
Philip Morris
PM
|
+$38.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 31.7% |
| 2 | Consumer Staples | 14% |
| 3 | Communication Services | 13.6% |
| 4 | Materials | 3.89% |
| 5 | Consumer Discretionary | 2.21% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
McCormick & Company Non-Voting
MKC
$14.9B
| $3.92M | 0.04% |
48,425
-75
| -0.2% | -$6.44K |
|
|
27
Union Pacific
UNP
$183B
| $3.56M | 0.03% |
18,173
+1,082
| +6% | +$234K |
|
28
PepsiCo
PEP
$196B
| $3.42M | 0.03% |
22,747
-109
| -0.5% | -$16.9K |
|
29
PNC Financial Services
PNC
$97B
| $2.9M | 0.03% |
14,836
-77
| -0.5% | -$14.5K |
|
|
30
Alphabet (Google) Class A
GOOGL
$4.22T
| $2.66M | 0.02% |
19,880
-1,340
| -6% | -$182K |
|
31
Costco
COST
$420B
| $2.37M | 0.02% |
5,264
+96
| +2% | +$42.2K |
|
32
MillerKnoll
MLKN
$1.57B
| $2.31M | 0.02% |
61,321
-600
| -1% | -$25.8K |
|
|
SWZ
33
Swiss Helvetia Fund
SWZ
$76.9M
| $2.12M | 0.02% |
230,908
+3,416
| +2% | +$33.3K |
|
34
Fomento Económico Mexicano
FMX
$41.1B
| $1.86M | 0.02% |
21,411
-1,450
| -6% | -$125K |
|
35
Abbott
ABT
$202B
| $1.45M | 0.01% |
12,275
+300
| +3% | +$36.9K |
|
36
AbbVie
ABBV
$468B
| $1.39M | 0.01% |
12,910
+300
| +2% | +$34.3K |
|
37
DuPont de Nemours
DD
$18.7B
| $1.23M | 0.01% |
14,362
+58
| +0.4% | +$5.37K |
|
38
Coca-Cola
KO
$392B
| $1.19M | 0.01% |
22,710
| – | – |
|
39
Fulton Financial
FULT
$4.51B
| $1.14M | 0.01% |
74,839
+418
| +0.6% | +$6.47K |
|
40
Dow Inc
DOW
$23.4B
| $1.1M | 0.01% |
19,189
+209
| +1% | +$12.8K |
|
41
Microsoft
MSFT
$3.59T
| $1.03M | 0.01% |
3,656
+54
| +1% | +$15.7K |
|
|
42
Apple
AAPL
$4.51T
| $940K | 0.01% |
6,645
+297
| +5% | +$43.7K |
|
43
Lamar Advertising Co
LAMR
$15.3B
| $912K | 0.01% |
8,035
| – | – |
|
44
Walt Disney
DIS
$186B
| $883K | 0.01% |
5,222
| – | – |
|
45
Graham Holdings Company
GHC
$4.94B
| $678K | 0.01% |
1,151
+2
| +0.2% | +$1.25K |
|
46
Truist Financial
TFC
$61.6B
| $624K | 0.01% |
10,642
+46
| +0.4% | +$2.57K |
|
47
Walmart Inc
WMT
$825B
| $624K | 0.01% |
13,440
| – | – |
|
48
McDonald's
MCD
$192B
| $550K | 0.01% |
2,280
| – | – |
|
49
Chevron
CVX
$403B
| $482K | ﹤0.01% |
4,751
-82
| -2% | -$8.18K |
|
|
PXD
50
DELISTED
Pioneer Natural Resource Co.
PXD
| $400K | ﹤0.01% |
2,400
| – | – |
|
Similar funds
Thomas Russo's Q3 2021 Portfolio in Review
As of Q3 2021, Thomas Russo held 89 positions worth $10.8B, down 8.3% from $11.8B the previous quarter. Its ten largest holdings account for 76% of the portfolio.
Thomas Russo withdrew a net $396M in Q3 2021, closing 2 positions and reducing 41 holdings. Its most notable exit was Eaton Vance Senior Income Trust, an estimated $2.58M position sold in full.
By sector, the portfolio is most concentrated in Financials at 32% of assets, up from 31% a quarter earlier, followed by Consumer Staples and Communication Services.
Against the trend, Thomas Russo added an estimated $23.9M to Alibaba.
- Thomas Russo added most to Alibaba in Q3 2021, an estimated $23.9M increase.
- Thomas Russo's biggest Q3 2021 reduction was Mastercard, cutting an estimated $91.7M.
- Thomas Russo fully exited Eaton Vance Senior Income Trust in Q3 2021, selling an estimated $2.58M.
- Thomas Russo's ten largest holdings make up 76% of its $10.8B portfolio in Q3 2021.
- Thomas Russo opened 1 new position and closed 2 in Q3 2021.
- Thomas Russo's portfolio value fell 8.3% quarter-over-quarter to $10.8B.
Based on Gardner Russo & Quinn's 13F filing for Q3 2021, filed 15 Nov 2021.