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
|
+$74.1M |
| 2 |
US Bancorp
USB
|
+$203K |
| 3 |
Danaher
DHR
|
+$190K |
| 4 |
TWNKW
Hostess Brands, Inc. Warrants
TWNKW
|
+$57.2K |
| 5 |
EVF
Eaton Vance Senior Income Trust
EVF
|
+$19.1K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Mastercard
MA
|
+$82.3M |
| 2 |
Altria Group
MO
|
+$50.2M |
| 3 |
Berkshire Hathaway Class A
BRK.A
|
+$24.8M |
| 4 |
Philip Morris
PM
|
+$18.1M |
| 5 |
UN
Unilever NV New York Registry Shares
UN
|
+$15.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 34.68% |
| 2 | Consumer Staples | 15.37% |
| 3 | Communication Services | 5.23% |
| 4 | Materials | 3.7% |
| 5 | Industrials | 0.1% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Mastercard
MA
$509B
| $1.91B | 14.61% |
6,380,459
-291,741
| -4% | -$82.3M |
|
|
2
Berkshire Hathaway Class A
BRK.A
$1.06T
| $1.31B | 10.03% |
3,850
-76
| -2% | -$24.8M |
|
|
3
Philip Morris
PM
$293B
| $754M | 5.79% |
8,863,924
-219,411
| -2% | -$18.1M |
|
|
UN
4
DELISTED
Unilever NV New York Registry Shares
UN
| $711M | 5.45% |
12,374,258
-266,824
| -2% | -$15.8M |
|
5
Wells Fargo
WFC
$254B
| $680M | 5.22% |
12,639,980
-143,867
| -1% | -$7.54M |
|
|
6
Berkshire Hathaway Class B
BRK.B
$1.06T
| $500M | 3.83% |
2,206,875
-55,786
| -2% | -$12.1M |
|
7
Martin Marietta Materials
MLM
$32.1B
| $472M | 3.62% |
1,687,254
-50,423
| -3% | -$13.4M |
|
|
8
Alphabet (Google) Class C
GOOG
$4.18T
| $418M | 3.21% |
6,256,580
+1,149,020
| +22% | +$74.1M |
|
9
Comcast
CMCSA
$95.3B
| $260M | 1.99% |
5,778,809
-126,684
| -2% | -$5.64M |
|
10
Brown-Forman Class A
BF.A
$13.3B
| $235M | 1.8% |
3,738,915
-142,537
| -4% | -$8.75M |
|
|
11
Brown-Forman Class B
BF.B
$13.1B
| $116M | 0.89% |
1,721,550
-81,640
| -5% | -$5.3M |
|
|
12
Altria Group
MO
$110B
| $111M | 0.85% |
2,221,018
-1,064,876
| -32% | -$50.2M |
|
13
Visa
V
$693B
| $93M | 0.71% |
495,011
-7,569
| -2% | -$1.36M |
|
14
Diageo
DEO
$52.6B
| $39.1M | 0.3% |
232,405
-3,565
| -2% | -$579K |
|
15
American Express
AXP
$227B
| $16.4M | 0.13% |
131,870
-5,687
| -4% | -$680K |
|
16
ExxonMobil
XOM
$679B
| $10.2M | 0.08% |
146,062
-2,912
| -2% | -$201K |
|
17
Fomento Económico Mexicano
FMX
$41.1B
| $10.1M | 0.08% |
106,688
-23,917
| -18% | -$2.2M |
|
18
Markel Group
MKL
$22.2B
| $8.61M | 0.07% |
7,527
-50
| -0.7% | -$56.9K |
|
19
Outfront Media
OUT
$5.25B
| $8.5M | 0.07% |
322,097
-11,333
| -3% | -$292K |
|
20
Crane NXT
CXT
$2.89B
| $8.34M | 0.06% |
277,803
-6,190
| -2% | -$176K |
|
21
Vulcan Materials
VMC
$35.8B
| $8.16M | 0.06% |
56,659
-633
| -1% | -$90.6K |
|
22
MillerKnoll
MLKN
$1.57B
| $6.93M | 0.05% |
166,481
-2,300
| -1% | -$106K |
|
23
Hormel Foods
HRL
$13.1B
| $6.8M | 0.05% |
150,805
-863
| -0.6% | -$37.1K |
|
24
Coca-Cola
KO
$392B
| $5.55M | 0.04% |
100,254
-5,313
| -5% | -$286K |
|
25
McCormick & Company Non-Voting
MKC
$14.9B
| $4.87M | 0.04% |
57,400
-100
| -0.2% | -$8.28K |
|
Similar funds
Thomas Russo's Q4 2019 Portfolio in Review
As of Q4 2019, Thomas Russo held 96 positions worth $13B, up 1.5% from $12.8B the previous quarter. Its ten largest holdings account for 76% of the portfolio.
Thomas Russo's Q4 2019 filing shows 2 new, 10 increased, 61 reduced and 3 closed positions. Its largest new stake was US Bancorp: 3,514 shares worth $208K. The largest sale was Mastercard, an estimated $82.3M.
By sector, the portfolio is most concentrated in Financials at 35% of assets, up from 33% a quarter earlier, followed by Consumer Staples and Communication Services.
- Thomas Russo's largest Q4 2019 buy was US Bancorp: 3,514 shares worth $208K.
- Thomas Russo added most to Alphabet (Google) Class C in Q4 2019, an estimated $74.1M increase.
- Thomas Russo's biggest Q4 2019 reduction was Mastercard, cutting an estimated $82.3M.
- Thomas Russo's ten largest holdings make up 76% of its $13B portfolio in Q4 2019.
- Thomas Russo opened 2 new positions and closed 3 in Q4 2019.
- Thomas Russo's portfolio value rose 1.5% quarter-over-quarter to $13B.
Based on Gardner Russo & Quinn's 13F filing for Q4 2019, filed 11 Feb 2020.