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 |
Uber
UBER
|
+$38.3M |
| 2 |
DoorDash
DASH
|
+$34.7M |
| 3 |
SWZ
Swiss Helvetia Fund
SWZ
|
+$951K |
| 4 |
Warby Parker
WRBY
|
+$117K |
| 5 |
ExxonMobil
XOM
|
+$88.9K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
JPMorgan Chase
JPM
|
+$120M |
| 2 |
Berkshire Hathaway Class A
BRK.A
|
+$25.1M |
| 3 |
Philip Morris
PM
|
+$24.6M |
| 4 |
Mastercard
MA
|
+$18.4M |
| 5 |
Netflix
NFLX
|
+$18.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 31.11% |
| 2 | Communication Services | 18.32% |
| 3 | Consumer Staples | 10.46% |
| 4 | Technology | 4.9% |
| 5 | Materials | 4.19% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Berkshire Hathaway Class A
BRK.A
$1.06T
| $1.18B | 12.58% |
1,624
-33
| -2% | -$25.1M |
|
|
2
Mastercard
MA
$509B
| $946M | 10.05% |
1,683,051
-33,323
| -2% | -$18.4M |
|
3
Alphabet (Google) Class C
GOOG
$4.18T
| $903M | 9.6% |
5,090,317
-16,288
| -0.3% | -$2.69M |
|
|
4
Philip Morris
PM
$293B
| $888M | 9.43% |
4,873,326
-143,305
| -3% | -$24.6M |
|
|
5
Netflix
NFLX
$331B
| $726M | 7.72% |
5,423,340
-160,780
| -3% | -$18.2M |
|
|
6
Berkshire Hathaway Class B
BRK.B
$1.06T
| $561M | 5.96% |
1,154,566
-26,042
| -2% | -$13.2M |
|
|
7
Uber
UBER
$161B
| $457M | 4.86% |
4,896,722
+465,047
| +10% | +$38.3M |
|
8
Martin Marietta Materials
MLM
$32.1B
| $391M | 4.16% |
712,779
-1,473
| -0.2% | -$779K |
|
|
9
DoorDash
DASH
$96.8B
| $238M | 2.53% |
966,760
+173,095
| +22% | +$34.7M |
|
|
10
JPMorgan Chase
JPM
$935B
| $166M | 1.77% |
573,700
-469,654
| -45% | -$120M |
|
11
Comcast
CMCSA
$95.3B
| $91.3M | 0.97% |
2,557,966
-58,845
| -2% | -$2.04M |
|
12
Brown-Forman Class A
BF.A
$13.3B
| $50.2M | 0.53% |
1,827,148
-43,774
| -2% | -$1.4M |
|
13
Visa
V
$693B
| $45.1M | 0.48% |
126,944
-3,757
| -3% | -$1.31M |
|
|
14
Brown-Forman Class B
BF.B
$13.1B
| $21M | 0.22% |
778,521
-42,275
| -5% | -$1.36M |
|
|
15
ExxonMobil
XOM
$679B
| $20.5M | 0.22% |
190,301
+832
| +0.4% | +$88.9K |
|
16
Markel Group
MKL
$22.2B
| $16.3M | 0.17% |
8,143
-133
| -2% | -$249K |
|
17
Crane Co
CR
$12B
| $11.3M | 0.12% |
59,355
-950
| -2% | -$158K |
|
18
Altria Group
MO
$110B
| $11.2M | 0.12% |
191,440
-55,208
| -22% | -$3.24M |
|
19
Union Pacific
UNP
$183B
| $5.69M | 0.06% |
24,715
+127
| +0.5% | +$28.2K |
|
20
Costco
COST
$420B
| $4.59M | 0.05% |
4,633
-4
| -0.1% | -$3.98K |
|
21
American Express
AXP
$227B
| $4.35M | 0.05% |
13,634
-24
| -0.2% | -$6.75K |
|
22
Dover
DOV
$27.2B
| $3.95M | 0.04% |
21,551
-400
| -2% | -$69.6K |
|
23
McCormick & Company Non-Voting
MKC
$14.9B
| $3.18M | 0.03% |
41,976
-650
| -2% | -$48.7K |
|
|
24
Alphabet (Google) Class A
GOOGL
$4.22T
| $2.77M | 0.03% |
15,729
+118
| +0.8% | +$19.3K |
|
|
SWZ
25
Swiss Helvetia Fund
SWZ
$76.9M
| $2.75M | 0.03% |
434,237
+140,834
| +48% | +$951K |
|
Similar funds
Thomas Russo's Q2 2025 Portfolio in Review
As of Q2 2025, Thomas Russo held 88 positions worth $9.41B, up 5.5% from $8.92B the previous quarter. Its ten largest holdings account for 81% of the portfolio.
Thomas Russo's Q2 2025 filing shows 2 new, 13 increased, 49 reduced and 3 closed positions. The largest sale was JPMorgan Chase, an estimated $120M.
By sector, the portfolio is most concentrated in Financials at 31% of assets, down from 36% a quarter earlier, followed by Communication Services and Consumer Staples.
- Thomas Russo added most to Uber in Q2 2025, an estimated $38.3M increase.
- Thomas Russo's biggest Q2 2025 reduction was JPMorgan Chase, cutting an estimated $120M.
- Thomas Russo fully exited Merck in Q2 2025, selling an estimated $248K.
- Thomas Russo's ten largest holdings make up 81% of its $9.41B portfolio in Q2 2025.
- Thomas Russo opened 2 new positions and closed 3 in Q2 2025.
- Thomas Russo's portfolio value rose 5.5% quarter-over-quarter to $9.41B.
Based on Gardner Russo & Quinn's 13F filing for Q2 2025, filed 13 Aug 2025.