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 |
Netflix
NFLX
|
+$36.4M |
| 2 |
Alphabet (Google) Class C
GOOG
|
+$22.1M |
| 3 |
Markel Group
MKL
|
+$851K |
| 4 |
BP
BP
|
+$229K |
| 5 |
Procter & Gamble
PG
|
+$124K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Mastercard
MA
|
+$54M |
| 2 |
Berkshire Hathaway Class A
BRK.A
|
+$49.4M |
| 3 |
Unilever
UL
|
+$44.9M |
| 4 |
Philip Morris
PM
|
+$37.2M |
| 5 |
Martin Marietta Materials
MLM
|
+$19.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 32.79% |
| 2 | Communication Services | 13.45% |
| 3 | Consumer Staples | 13.2% |
| 4 | Materials | 3.91% |
| 5 | Energy | 0.23% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Berkshire Hathaway Class A
BRK.A
$1.06T
| $1.22B | 13.45% |
2,600
-110
| -4% | -$49.4M |
|
|
2
Mastercard
MA
$509B
| $869M | 9.59% |
2,497,748
-164,100
| -6% | -$54M |
|
|
3
Alphabet (Google) Class C
GOOG
$4.18T
| $704M | 7.77% |
7,932,302
+231,767
| +3% | +$22.1M |
|
|
4
Philip Morris
PM
$293B
| $654M | 7.21% |
6,458,197
-394,091
| -6% | -$37.2M |
|
|
5
Berkshire Hathaway Class B
BRK.B
$1.06T
| $512M | 5.66% |
1,659,081
-58,806
| -3% | -$17.5M |
|
|
6
Martin Marietta Materials
MLM
$32.1B
| $341M | 3.77% |
1,010,403
-57,380
| -5% | -$19.6M |
|
|
7
Netflix
NFLX
$331B
| $316M | 3.48% |
10,705,630
+1,297,610
| +14% | +$36.4M |
|
|
8
Unilever
UL
$138B
| $275M | 3.04% |
4,856,050
-839,175
| -15% | -$44.9M |
|
9
JPMorgan Chase
JPM
$935B
| $247M | 2.73% |
1,844,064
-84,500
| -4% | -$10.7M |
|
10
Brown-Forman Class A
BF.A
$13.3B
| $163M | 1.8% |
2,477,243
-146,758
| -6% | -$10M |
|
11
Comcast
CMCSA
$95.3B
| $133M | 1.47% |
3,815,477
-170,096
| -4% | -$5.63M |
|
12
Visa
V
$693B
| $72M | 0.8% |
346,711
-16,501
| -5% | -$3.33M |
|
|
13
Brown-Forman Class B
BF.B
$13.1B
| $65.6M | 0.72% |
998,582
-34,316
| -3% | -$2.33M |
|
14
Cable One
CABO
$129M
| $63.8M | 0.7% |
89,621
-6,092
| -6% | -$4.54M |
|
15
Wells Fargo
WFC
$254B
| $31.6M | 0.35% |
766,181
-18,330
| -2% | -$811K |
|
16
ExxonMobil
XOM
$679B
| $19.5M | 0.21% |
176,458
-2,641
| -1% | -$283K |
|
17
Altria Group
MO
$110B
| $14.9M | 0.16% |
325,292
-10,644
| -3% | -$482K |
|
|
18
Markel Group
MKL
$22.2B
| $11.5M | 0.13% |
8,725
+688
| +9% | +$851K |
|
19
Vulcan Materials
VMC
$35.8B
| $9.66M | 0.11% |
55,162
-245
| -0.4% | -$41.9K |
|
20
Crane NXT
CXT
$2.89B
| $7.2M | 0.08% |
206,442
-4,534
| -2% | -$158K |
|
21
Hormel Foods
HRL
$13.1B
| $5.93M | 0.07% |
130,233
-2,048
| -2% | -$95.4K |
|
22
American Express
AXP
$227B
| $5.74M | 0.06% |
38,831
-1,005
| -3% | -$149K |
|
|
23
Procter & Gamble
PG
$336B
| $5.45M | 0.06% |
35,977
+886
| +3% | +$124K |
|
24
Dover
DOV
$27.2B
| $4.02M | 0.04% |
29,662
-100
| -0.3% | -$13.3K |
|
25
Union Pacific
UNP
$183B
| $3.84M | 0.04% |
18,556
+105
| +0.6% | +$21.5K |
|
Similar funds
Thomas Russo's Q4 2022 Portfolio in Review
As of Q4 2022, Thomas Russo held 84 positions worth $9.06B, up 9.6% from $8.27B the previous quarter. Its ten largest holdings account for 79% of the portfolio.
Thomas Russo withdrew a net $312M in Q4 2022, closing 1 position and reducing 44 holdings. Its largest reduction was Mastercard, cutting an estimated $54M.
By sector, the portfolio is most concentrated in Financials at 33% of assets, up from 32% a quarter earlier, followed by Communication Services and Consumer Staples.
Against the trend, Thomas Russo opened a new position in BP worth $241K.
- Thomas Russo's largest Q4 2022 buy was BP: 6,889 shares worth $241K.
- Thomas Russo added most to Netflix in Q4 2022, an estimated $36.4M increase.
- Thomas Russo's biggest Q4 2022 reduction was Mastercard, cutting an estimated $54M.
- Thomas Russo's ten largest holdings make up 79% of its $9.06B portfolio in Q4 2022.
- Thomas Russo opened 1 new position and closed 1 in Q4 2022.
- Thomas Russo's portfolio value rose 9.6% quarter-over-quarter to $9.06B.
Based on Gardner Russo & Quinn's 13F filing for Q4 2022, filed 13 Feb 2023.