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 |
Berkshire Hathaway Class B
BRK.B
|
+$3.31M |
| 2 |
Caterpillar
CAT
|
+$299K |
| 3 |
ExxonMobil
XOM
|
+$160K |
| 4 |
Warby Parker
WRBY
|
+$75.8K |
| 5 |
Union Pacific
UNP
|
+$28.8K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class C
GOOG
|
+$92.6M |
| 2 |
Berkshire Hathaway Class A
BRK.A
|
+$60.3M |
| 3 |
Mastercard
MA
|
+$36.1M |
| 4 |
Philip Morris
PM
|
+$35.5M |
| 5 |
Netflix
NFLX
|
+$34.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 31.14% |
| 2 | Communication Services | 19.62% |
| 3 | Consumer Staples | 9.08% |
| 4 | Technology | 4.99% |
| 5 | Materials | 4.68% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Berkshire Hathaway Class A
BRK.A
$1.06T
| $1.16B | 12.46% |
1,541
-83
| -5% | -$60.3M |
|
|
2
Alphabet (Google) Class C
GOOG
$4.18T
| $1.13B | 12.14% |
4,649,923
-440,394
| -9% | -$92.6M |
|
|
3
Mastercard
MA
$509B
| $922M | 9.88% |
1,620,272
-62,779
| -4% | -$36.1M |
|
|
4
Philip Morris
PM
$293B
| $756M | 8.11% |
4,662,201
-211,125
| -4% | -$35.5M |
|
|
5
Netflix
NFLX
$331B
| $617M | 6.61% |
5,144,250
-279,090
| -5% | -$34.1M |
|
|
6
Berkshire Hathaway Class B
BRK.B
$1.06T
| $584M | 6.26% |
1,161,394
+6,828
| +0.6% | +$3.31M |
|
7
Uber
UBER
$161B
| $462M | 4.95% |
4,710,841
-185,881
| -4% | -$17.4M |
|
8
Martin Marietta Materials
MLM
$32.1B
| $433M | 4.65% |
687,537
-25,242
| -4% | -$15M |
|
9
DoorDash
DASH
$96.8B
| $252M | 2.7% |
926,363
-40,397
| -4% | -$10.1M |
|
10
JPMorgan Chase
JPM
$935B
| $172M | 1.84% |
545,030
-28,670
| -5% | -$8.53M |
|
11
Comcast
CMCSA
$95.3B
| $76.8M | 0.82% |
2,445,711
-112,255
| -4% | -$3.76M |
|
12
Brown-Forman Class A
BF.A
$13.3B
| $46.2M | 0.5% |
1,718,072
-109,076
| -6% | -$3.17M |
|
13
Visa
V
$693B
| $41.7M | 0.45% |
122,264
-4,680
| -4% | -$1.62M |
|
|
14
ExxonMobil
XOM
$679B
| $21.6M | 0.23% |
191,742
+1,441
| +0.8% | +$160K |
|
|
15
Brown-Forman Class B
BF.B
$13.1B
| $20.7M | 0.22% |
765,768
-12,753
| -2% | -$370K |
|
16
Markel Group
MKL
$22.2B
| $14.6M | 0.16% |
7,653
-490
| -6% | -$961K |
|
17
Altria Group
MO
$110B
| $10.9M | 0.12% |
165,693
-25,747
| -13% | -$1.63M |
|
18
Crane Co
CR
$12B
| $10.4M | 0.11% |
56,476
-2,879
| -5% | -$543K |
|
|
19
Union Pacific
UNP
$183B
| $5.87M | 0.06% |
24,843
+128
| +0.5% | +$28.8K |
|
20
American Express
AXP
$227B
| $4.53M | 0.05% |
13,632
-2
| -0% | -$636 |
|
21
Costco
COST
$420B
| $4.28M | 0.05% |
4,624
-9
| -0.2% | -$8.63K |
|
|
22
Alphabet (Google) Class A
GOOGL
$4.22T
| $3.76M | 0.04% |
15,486
-243
| -2% | -$50.9K |
|
23
Dover
DOV
$27.2B
| $3.26M | 0.04% |
19,551
-2,000
| -9% | -$359K |
|
24
Vulcan Materials
VMC
$35.8B
| $3.04M | 0.03% |
9,897
-265
| -3% | -$75.2K |
|
25
AbbVie
ABBV
$468B
| $2.87M | 0.03% |
12,410
| – | – |
|
Similar funds
Thomas Russo's Q3 2025 Portfolio in Review
As of Q3 2025, Thomas Russo held 87 positions worth $9.33B, down 0.86% from $9.41B the previous quarter. Its ten largest holdings account for 80% of the portfolio.
Thomas Russo withdrew a net $337M in Q3 2025, closing 2 positions and reducing 41 holdings. Its most notable exit was Ralph Lauren, an estimated $1.12M position sold in full.
By sector, the portfolio is most concentrated in Financials at 31% of assets, up from 31% a quarter earlier, followed by Communication Services and Consumer Staples.
Against the trend, Thomas Russo opened a new position in Caterpillar worth $334K.
- Thomas Russo's largest Q3 2025 buy was Caterpillar: 700 shares worth $334K.
- Thomas Russo added most to Berkshire Hathaway Class B in Q3 2025, an estimated $3.31M increase.
- Thomas Russo's biggest Q3 2025 reduction was Alphabet (Google) Class C, cutting an estimated $92.6M.
- Thomas Russo fully exited Ralph Lauren in Q3 2025, selling an estimated $1.12M.
- Thomas Russo's ten largest holdings make up 80% of its $9.33B portfolio in Q3 2025.
- Thomas Russo opened 2 new positions and closed 2 in Q3 2025.
- Thomas Russo's portfolio value fell 0.86% quarter-over-quarter to $9.33B.
Based on Gardner Russo & Quinn's 13F filing for Q3 2025, filed 12 Nov 2025.