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 | |
|---|---|---|---|---|---|---|
|
1
Mastercard
MA
$509B
| $1.86B | 13.44% |
8,351,354
-308,279
| -4% | -$64.3M |
|
|
2
Berkshire Hathaway Class A
BRK.A
$1.06T
| $1.46B | 10.54% |
4,555
-66
| -1% | -$20.4M |
|
|
3
Philip Morris
PM
$293B
| $840M | 6.07% |
10,301,119
-96,319
| -0.9% | -$7.91M |
|
|
UN
4
DELISTED
Unilever NV New York Registry Shares
UN
| $818M | 5.91% |
14,723,219
-227,381
| -2% | -$12.9M |
|
|
5
Wells Fargo
WFC
$254B
| $703M | 5.08% |
13,376,592
+1,102,815
| +9% | +$63M |
|
|
6
Berkshire Hathaway Class B
BRK.B
$1.06T
| $546M | 3.95% |
2,551,745
+24,097
| +1% | +$4.94M |
|
7
Martin Marietta Materials
MLM
$32.1B
| $362M | 2.61% |
1,987,280
-3,908
| -0.2% | -$807K |
|
8
Altria Group
MO
$110B
| $329M | 2.38% |
5,448,807
-92,271
| -2% | -$5.48M |
|
9
Comcast
CMCSA
$95.3B
| $248M | 1.79% |
7,002,063
-77,574
| -1% | -$2.75M |
|
|
10
Brown-Forman Class A
BF.A
$13.3B
| $218M | 1.58% |
4,295,327
-12,082
| -0.3% | -$633K |
|
|
11
Brown-Forman Class B
BF.B
$13.1B
| $127M | 0.92% |
2,512,409
-132,603
| -5% | -$6.89M |
|
12
Visa
V
$693B
| $92.5M | 0.67% |
616,572
-7,440
| -1% | -$1.06M |
|
|
13
Alphabet (Google) Class C
GOOG
$4.18T
| $68.4M | 0.5% |
1,147,020
+12,540
| +1% | +$751K |
|
14
Diageo
DEO
$52.6B
| $55.3M | 0.4% |
390,477
-12,178
| -3% | -$1.75M |
|
15
American Express
AXP
$227B
| $18.9M | 0.14% |
177,446
-2,955
| -2% | -$307K |
|
16
Fomento Económico Mexicano
FMX
$41.1B
| $16.1M | 0.12% |
162,402
-1,575
| -1% | -$152K |
|
17
ExxonMobil
XOM
$679B
| $13.2M | 0.1% |
154,948
+582
| +0.4% | +$47.6K |
|
18
Crane NXT
CXT
$2.89B
| $11.5M | 0.08% |
335,455
-9,573
| -3% | -$297K |
|
19
Markel Group
MKL
$22.2B
| $9.51M | 0.07% |
8,000
-90
| -1% | -$106K |
|
20
Outfront Media
OUT
$5.25B
| $9.14M | 0.07% |
465,313
+2,652
| +0.6% | +$52.7K |
|
21
MillerKnoll
MLKN
$1.57B
| $7.31M | 0.05% |
190,266
-5,625
| -3% | -$213K |
|
22
Hormel Foods
HRL
$13.1B
| $6.3M | 0.05% |
160,023
+1,422
| +0.9% | +$54.4K |
|
23
Vulcan Materials
VMC
$35.8B
| $6.16M | 0.04% |
55,415
+560
| +1% | +$64.9K |
|
24
Coca-Cola
KO
$392B
| $5.51M | 0.04% |
119,308
-2,675
| -2% | -$122K |
|
25
Dover
DOV
$27.2B
| $4.45M | 0.03% |
50,291
-1,000
| -2% | -$82.5K |
|
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.