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
|
+$63M |
| 2 |
Berkshire Hathaway Class B
BRK.B
|
+$4.94M |
| 3 |
JPMorgan Chase
JPM
|
+$1.08M |
| 4 |
Alphabet (Google) Class C
GOOG
|
+$751K |
| 5 |
Y
Alleghany Corp
Y
|
+$203K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Mastercard
MA
|
+$64.3M |
| 2 |
Berkshire Hathaway Class A
BRK.A
|
+$20.4M |
| 3 |
UN
Unilever NV New York Registry Shares
UN
|
+$12.9M |
| 4 |
Philip Morris
PM
|
+$7.91M |
| 5 |
Brown-Forman Class B
BF.B
|
+$6.89M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 33.96% |
| 2 | Consumer Staples | 17.57% |
| 3 | Materials | 2.68% |
| 4 | Communication Services | 2.31% |
| 5 | Energy | 0.14% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
PXD
51
DELISTED
Pioneer Natural Resource Co.
PXD
| $453K | ﹤0.01% |
2,600
| – | – |
|
52
Coty
COTY
$2.41B
| $440K | ﹤0.01% |
35,008
-69
| -0.2% | -$893 |
|
53
Microsoft
MSFT
$3.59T
| $434K | ﹤0.01% |
3,795
-55
| -1% | -$5.96K |
|
54
O'Reilly Automotive
ORLY
$72.1B
| $347K | ﹤0.01% |
15,000
-1,500
| -9% | -$31.9K |
|
55
Union Pacific
UNP
$183B
| $311K | ﹤0.01% |
1,910
| – | – |
|
56
American International
AIG
$39.8B
| $305K | ﹤0.01% |
5,735
| – | – |
|
57
Chemours
CC
$2.4B
| $255K | ﹤0.01% |
6,466
+37
| +0.6% | +$1.62K |
|
58
BP
BP
$115B
| $240K | ﹤0.01% |
5,446
-77
| -1% | -$3.22K |
|
59
3M
MMM
$92.3B
| $240K | ﹤0.01% |
1,363
-341
| -20% | -$58.7K |
|
60
IBM
IBM
$222B
| $238K | ﹤0.01% |
1,643
-4,113
| -71% | -$575K |
|
61
US Bancorp
USB
$96.7B
| $228K | ﹤0.01% |
4,314
| – | – |
|
|
Y
62
DELISTED
Alleghany Corp
Y
| $211K | ﹤0.01% |
+324
| New | +$203K |
|
63
Oracle
ORCL
$422B
| $206K | ﹤0.01% |
+4,000
| New | +$194K |
|
64
ConocoPhillips
COP
$162B
| $204K | ﹤0.01% |
+2,638
| New | +$190K |
|
|
TWNKW
65
DELISTED
Hostess Brands, Inc. Warrants
TWNKW
| $106K | ﹤0.01% |
100,000
+42,500
| +74% | +$68.2K |
|
66
Johnson & Johnson
JNJ
$651B
| – | – |
-1,715
| Closed | -$208K |
|
67
SLB Ltd
SLB
$79.9B
| – | – |
-4,225
| Closed | -$283K |
|
|
CSFL
68
DELISTED
CenterState Bank Corporation Common Stock
CSFL
| – | – |
-7,304
| Closed | -$218K |
|
|
WFC.WS
69
DELISTED
Wells Fargo & Company Ws
WFC.WS
| – | – |
-81,785
| Closed | -$1.8M |
|
|
JPM.WS
70
DELISTED
JPMorgan Chase
JPM.WS
| – | – |
-14,915
| Closed | -$946K |
|
Similar funds
Thomas Russo's Q3 2018 Portfolio in Review
As of Q3 2018, Thomas Russo held 101 positions worth $13.8B, up 0.91% from $13.7B the previous quarter. Its ten largest holdings account for 76% of the portfolio.
Thomas Russo's Q3 2018 filing shows 3 new, 24 increased, 47 reduced and 6 closed positions. Its largest new stake was Alleghany Corp: 324 shares worth $211K. The largest sale was Mastercard, an estimated $64.3M.
By sector, the portfolio is most concentrated in Financials at 34% of assets, up from 31% a quarter earlier, followed by Consumer Staples and Materials.
- Thomas Russo's largest Q3 2018 buy was Alleghany Corp: 324 shares worth $211K.
- Thomas Russo added most to Wells Fargo in Q3 2018, an estimated $63M increase.
- Thomas Russo's biggest Q3 2018 reduction was Mastercard, cutting an estimated $64.3M.
- Thomas Russo fully exited Wells Fargo & Company Ws in Q3 2018, selling an estimated $1.8M.
- Thomas Russo's ten largest holdings make up 76% of its $13.8B portfolio in Q3 2018.
- Thomas Russo opened 3 new positions and closed 6 in Q3 2018.
- Thomas Russo's portfolio value rose 0.91% quarter-over-quarter to $13.8B.
Based on Gardner Russo & Quinn's 13F filing for Q3 2018, filed 13 Nov 2018.