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
|
+$37.7M |
| 2 |
M&T Bank
MTB
|
+$724K |
| 3 |
Merck
MRK
|
+$206K |
| 4 |
TWNKW
Hostess Brands, Inc. Warrants
TWNKW
|
+$112K |
| 5 |
JPMorgan Chase
JPM
|
+$51.1K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Mastercard
MA
|
+$54.3M |
| 2 |
Berkshire Hathaway Class A
BRK.A
|
+$43.2M |
| 3 |
Philip Morris
PM
|
+$23.1M |
| 4 |
UN
Unilever NV New York Registry Shares
UN
|
+$21.9M |
| 5 |
Berkshire Hathaway Class B
BRK.B
|
+$13.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 34.09% |
| 2 | Consumer Staples | 17.51% |
| 3 | Materials | 2.84% |
| 4 | Communication Services | 2.73% |
| 5 | Energy | 0.12% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Mastercard
MA
$509B
| $1.52B | 12.65% |
8,077,802
-273,552
| -3% | -$54.3M |
|
|
2
Berkshire Hathaway Class A
BRK.A
$1.06T
| $1.35B | 11.22% |
4,417
-138
| -3% | -$43.2M |
|
|
UN
3
DELISTED
Unilever NV New York Registry Shares
UN
| $771M | 6.4% |
14,322,780
-400,439
| -3% | -$21.9M |
|
|
4
Philip Morris
PM
$293B
| $669M | 5.56% |
10,024,100
-277,019
| -3% | -$23.1M |
|
5
Wells Fargo
WFC
$254B
| $615M | 5.1% |
13,341,454
-35,138
| -0.3% | -$1.8M |
|
|
6
Berkshire Hathaway Class B
BRK.B
$1.06T
| $507M | 4.21% |
2,485,257
-66,488
| -3% | -$13.9M |
|
7
Martin Marietta Materials
MLM
$32.1B
| $334M | 2.78% |
1,944,937
-42,343
| -2% | -$7.52M |
|
8
Altria Group
MO
$110B
| $263M | 2.19% |
5,331,976
-116,831
| -2% | -$6.77M |
|
9
Comcast
CMCSA
$95.3B
| $231M | 1.92% |
6,779,811
-222,252
| -3% | -$8.11M |
|
10
Brown-Forman Class A
BF.A
$13.3B
| $200M | 1.66% |
4,216,925
-78,402
| -2% | -$3.74M |
|
|
11
Brown-Forman Class B
BF.B
$13.1B
| $115M | 0.96% |
2,419,447
-92,962
| -4% | -$4.42M |
|
|
12
Alphabet (Google) Class C
GOOG
$4.18T
| $95.9M | 0.8% |
1,851,400
+704,380
| +61% | +$37.7M |
|
13
Visa
V
$693B
| $77.1M | 0.64% |
584,461
-32,111
| -5% | -$4.43M |
|
14
Diageo
DEO
$52.6B
| $51.6M | 0.43% |
364,056
-26,421
| -7% | -$3.72M |
|
15
American Express
AXP
$227B
| $15.6M | 0.13% |
163,749
-13,697
| -8% | -$1.43M |
|
16
Fomento Económico Mexicano
FMX
$41.1B
| $13.2M | 0.11% |
152,995
-9,407
| -6% | -$836K |
|
17
ExxonMobil
XOM
$679B
| $10.3M | 0.09% |
151,616
-3,332
| -2% | -$261K |
|
18
Markel Group
MKL
$22.2B
| $8.22M | 0.07% |
7,920
-80
| -1% | -$87.5K |
|
19
Crane NXT
CXT
$2.89B
| $7.72M | 0.06% |
308,033
-27,422
| -8% | -$816K |
|
20
Outfront Media
OUT
$5.25B
| $7.43M | 0.06% |
416,881
-48,432
| -10% | -$920K |
|
21
Hormel Foods
HRL
$13.1B
| $6.63M | 0.06% |
155,373
-4,650
| -3% | -$200K |
|
22
MillerKnoll
MLKN
$1.57B
| $5.54M | 0.05% |
183,216
-7,050
| -4% | -$234K |
|
23
Coca-Cola
KO
$392B
| $5.54M | 0.05% |
116,923
-2,385
| -2% | -$114K |
|
24
Vulcan Materials
VMC
$35.8B
| $5.32M | 0.04% |
53,800
-1,615
| -3% | -$164K |
|
25
McCormick & Company Non-Voting
MKC
$14.9B
| $4.3M | 0.04% |
61,710
-3,900
| -6% | -$280K |
|
Similar funds
Thomas Russo's Q4 2018 Portfolio in Review
As of Q4 2018, Thomas Russo held 97 positions worth $12B, down 13% from $13.8B the previous quarter. Its ten largest holdings account for 76% of the portfolio.
Thomas Russo's Q4 2018 filing shows 2 new, 7 increased, 50 reduced and 9 closed positions. Its largest new stake was M&T Bank: 4,529 shares worth $648K. The largest sale was Mastercard, an estimated $54.3M.
By sector, the portfolio is most concentrated in Financials at 34% of assets, up from 34% a quarter earlier, followed by Consumer Staples and Materials.
- Thomas Russo's largest Q4 2018 buy was M&T Bank: 4,529 shares worth $648K.
- Thomas Russo added most to Alphabet (Google) Class C in Q4 2018, an estimated $37.7M increase.
- Thomas Russo's biggest Q4 2018 reduction was Mastercard, cutting an estimated $54.3M.
- Thomas Russo fully exited M&T Bank Corporation in Q4 2018, selling an estimated $682K.
- Thomas Russo's ten largest holdings make up 76% of its $12B portfolio in Q4 2018.
- Thomas Russo opened 2 new positions and closed 9 in Q4 2018.
- Thomas Russo's portfolio value fell 13% quarter-over-quarter to $12B.
Based on Gardner Russo & Quinn's 13F filing for Q4 2018, filed 13 Feb 2019.