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
|
+$70.8M |
| 2 |
Wells Fargo
WFC
|
+$6.96M |
| 3 |
Vulcan Materials
VMC
|
+$241K |
| 4 |
Outfront Media
OUT
|
+$23K |
| 5 |
Costco
COST
|
+$21.9K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Altria Group
MO
|
+$78.4M |
| 2 |
Mastercard
MA
|
+$66.9M |
| 3 |
Berkshire Hathaway Class A
BRK.A
|
+$23.5M |
| 4 |
Philip Morris
PM
|
+$18.6M |
| 5 |
Berkshire Hathaway Class B
BRK.B
|
+$14.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 33.26% |
| 2 | Consumer Staples | 15.62% |
| 3 | Communication Services | 4.52% |
| 4 | Materials | 3.79% |
| 5 | Energy | 0.11% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Mastercard
MA
$509B
| $1.81B | 14.11% |
6,672,200
-242,751
| -4% | -$66.9M |
|
|
2
Berkshire Hathaway Class A
BRK.A
$1.06T
| $1.22B | 9.53% |
3,926
-76
| -2% | -$23.5M |
|
|
UN
3
DELISTED
Unilever NV New York Registry Shares
UN
| $759M | 5.91% |
12,641,082
-233,462
| -2% | -$14M |
|
|
4
Philip Morris
PM
$293B
| $690M | 5.37% |
9,083,335
-234,413
| -3% | -$18.6M |
|
|
5
Wells Fargo
WFC
$254B
| $645M | 5.02% |
12,783,847
+147,643
| +1% | +$6.96M |
|
6
Martin Marietta Materials
MLM
$32.1B
| $476M | 3.71% |
1,737,677
-56,773
| -3% | -$14M |
|
|
7
Berkshire Hathaway Class B
BRK.B
$1.06T
| $471M | 3.66% |
2,262,661
-70,153
| -3% | -$14.5M |
|
|
8
Alphabet (Google) Class C
GOOG
$4.18T
| $311M | 2.42% |
5,107,560
+1,196,880
| +31% | +$70.8M |
|
9
Comcast
CMCSA
$95.3B
| $266M | 2.07% |
5,905,493
-149,319
| -2% | -$6.62M |
|
10
Brown-Forman Class A
BF.A
$13.3B
| $232M | 1.81% |
3,881,452
-62,567
| -2% | -$3.57M |
|
|
11
Altria Group
MO
$110B
| $134M | 1.05% |
3,285,894
-1,703,566
| -34% | -$78.4M |
|
|
12
Brown-Forman Class B
BF.B
$13.1B
| $113M | 0.88% |
1,803,190
-90,916
| -5% | -$5.31M |
|
13
Visa
V
$693B
| $86.4M | 0.67% |
502,580
-10,414
| -2% | -$1.85M |
|
14
Diageo
DEO
$52.6B
| $38.6M | 0.3% |
235,970
-5,371
| -2% | -$899K |
|
15
American Express
AXP
$227B
| $16.3M | 0.13% |
137,557
-1,873
| -1% | -$230K |
|
16
Fomento Económico Mexicano
FMX
$41.1B
| $12M | 0.09% |
130,605
-1,562
| -1% | -$144K |
|
17
ExxonMobil
XOM
$679B
| $10.5M | 0.08% |
148,974
-1,958
| -1% | -$142K |
|
|
18
Outfront Media
OUT
$5.25B
| $9.12M | 0.07% |
333,430
+864
| +0.3% | +$23K |
|
19
Markel Group
MKL
$22.2B
| $8.96M | 0.07% |
7,577
-107
| -1% | -$122K |
|
|
20
Vulcan Materials
VMC
$35.8B
| $8.66M | 0.07% |
57,292
+1,705
| +3% | +$241K |
|
21
Crane NXT
CXT
$2.89B
| $7.95M | 0.06% |
283,993
-2,879
| -1% | -$80.3K |
|
22
MillerKnoll
MLKN
$1.57B
| $7.78M | 0.06% |
168,781
-4,935
| -3% | -$217K |
|
23
Hormel Foods
HRL
$13.1B
| $6.63M | 0.05% |
151,668
-1,625
| -1% | -$68.2K |
|
24
Coca-Cola
KO
$392B
| $5.75M | 0.04% |
105,567
-450
| -0.4% | -$24.1K |
|
25
Procter & Gamble
PG
$336B
| $4.83M | 0.04% |
38,837
-441
| -1% | -$52.1K |
|
Similar funds
Thomas Russo's Q3 2019 Portfolio in Review
As of Q3 2019, Thomas Russo held 97 positions worth $12.8B, down 2.3% from $13.2B the previous quarter. Its ten largest holdings account for 77% of the portfolio.
Trading was light in Q3 2019: portfolio turnover was 4.1%. Thomas Russo opened 1 new position and exited 3, leaving the 97-position portfolio largely intact.
By sector, the portfolio is most concentrated in Financials at 33% of assets, up from 33% a quarter earlier, followed by Consumer Staples and Communication Services.
- Thomas Russo added most to Alphabet (Google) Class C in Q3 2019, an estimated $70.8M increase.
- Thomas Russo's biggest Q3 2019 reduction was Altria Group, cutting an estimated $78.4M.
- Thomas Russo fully exited AB InBev in Q3 2019, selling an estimated $371K.
- Thomas Russo's ten largest holdings make up 77% of its $12.8B portfolio in Q3 2019.
- Thomas Russo opened 1 new position and closed 3 in Q3 2019.
- Thomas Russo's portfolio value fell 2.3% quarter-over-quarter to $12.8B.
Based on Gardner Russo & Quinn's 13F filing for Q3 2019, filed 13 Nov 2019.