Funds › Gardner Russo & Quinn (Tom Russo) › Q2 2006Gardner Russo & Quinn (Tom Russo) 13F holdings, Q2 2006 Gardner Russo & Quinn (Tom Russo) disclosed 312 US equity positions worth $2.5bn in its Q2 2006 13F filing. Its largest position is MO at 12.0% of the reported book, followed by HEINEKEN HLDG NV and COMCAST CORP NEW. Versus Q1 2006 it opened 44 new positions, added to 36, reduced 91 and exited 18.
$2.5bn Reported equity book Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
312 Positions Distinct securities in the equity book with a reported value above zero. Options are excluded.
12.0% Largest position The largest single position as a share of the reported equity book.
66.9% Top 10 weight The ten largest positions together, as a share of the reported equity book.
18 Effective positions 1 / HHI of portfolio weights: the number of equal-weight positions the book behaves like.
85 Quarters on file since Q1 1999 Quarters for which this manager's 13F holdings are on record. Holdings Against Q1 2006: 44 new , 36 added , 91 reduced , 18 exited
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Stock Sector Weight Value Shares Δ shares Action MO ALTRIA GROUP INC Consumer Defensive 12.0% $304m 4.15m +2.8% added HEINEKEN HLDG NV no ticker – 8.8% $222m 6.03m +2.3% added COMCAST CORP NEW no ticker – 7.4% $188m 5.72m +6.8% added MLM MARTIN MARIETTA MATLS INC Basic Materials 6.8% $173m 1.89m −3.9% reduced WFC WELLS FARGO & CO Financial Services 6.8% $172m 2.56m +2.5% added AMERICAN INTL GROUP INC no ticker – 5.6% $141m 2.39m – new WASHINGTON POST CO no ticker – 5.3% $135m 173,089 +3.4% added UST INC no ticker – 5.1% $129m 2.86m +3.6% added SCRIPPS E W CO OHIO no ticker – 4.7% $120m 2.79m +3.7% added DIAGEO P L C no ticker – 4.4% $113m 6.70m – new BF/A BROWN FORMAN CORP – 4.4% $111m 1.54m +1.7% added HRB BLOCK H & R INC Consumer Cyclical 3.7% $93.8m 3.93m – new PERNOD RICARD S A no ticker – 3.2% $81.3m 410,342 +5.3% added KRAFT FOODS INC no ticker – 1.7% $43.5m 1.41m −18% reduced MATV MATIV HOLDINGS INC Basic Materials 1.5% $38.5m 1.78m −3.5% reduced ISCAUSD INTERNATIONAL SPEEDWAY CORP – 1.3% $33.1m 714,005 −32% reduced DEO DIAGEO PLC Consumer Defensive 1.2% $30.1m 445,768 – new MKL MARKEL GROUP INC Financial Services 1.0% $25.5m 73,560 −0.6% reduced PGR PROGRESSIVE CORP Financial Services 1.0% $24.8m 965,904 +290% added BF/B BROWN FORMAN CORP – 0.9% $21.8m 304,640 −4.2% reduced EXMOC EXXON MOBIL CORP – 0.8% $20.8m 338,268 +1.4% added HRL HORMEL FOODS CORP Consumer Defensive 0.7% $18.8m 505,515 −2.2% reduced ABT ABBOTT LABORATORIES Healthcare 0.7% $18.4m 421,627 – new KONINKLIJKE WEGENER NV no ticker – 0.7% $16.9m 1.14m −8.3% reduced INTERNATIONAL SPEEDWAY CORP no ticker – 0.6% $16.2m 350,007 – new SWEDISH MATCH AB no ticker – 0.6% $14.4m 894,980 −2.7% reduced FEDERAL HOME LN MTG CORP no ticker – 0.5% $12.1m 211,655 −3.4% reduced CANADIAN OIL SANDS TRUST no ticker – 0.4% $10.6m 330,000 +385% added PEP PEPSICO INC Consumer Defensive 0.4% $9.9m 165,722 −0.2% held BRITISH AMERN TOB PLC no ticker – 0.4% $9.1m 363,270 −1.5% reduced CR CRANE CO Industrials 0.4% $9.1m 218,674 −1.6% reduced VMC VULCAN MATLS CO Basic Materials 0.3% $8.9m 113,850 +4.6% added GE GENERAL ELECTRIC CO Industrials 0.3% $8.6m 260,817 +4.1% added PARGESA HOLDING AG - B no ticker – 0.3% $8.6m 90,725 −1.0% reduced ANHEUSER BUSCH COS INC no ticker – 0.3% $7.6m 167,590 – new WACHOVIA CORP 2ND NEW no ticker – 0.3% $6.4m 118,793 −20% reduced OMC OMNICOM GROUP INC Communication Services 0.2% $6.1m 68,235 −8.3% reduced JNJ JOHNSON & JOHNSON Healthcare 0.2% $6.1m 101,263 −8.9% reduced RDS/A ROYAL DUTCH SHELL PLC – 0.2% $5.5m 81,516 +0.2% held SUN MICROSYSTEMS INC no ticker – 0.2% $5.4m 1.30m −12% reduced SMG SCOTTS MIRACLE-GRO CO Basic Materials 0.2% $5.2m 123,915 −4.4% reduced BAC BANK OF AMER CORP Financial Services 0.2% $4.9m 101,380 – new ENCANA CORP no ticker – 0.2% $4.8m 92,000 −18% reduced GANNETT INC no ticker – 0.2% $4.5m 81,150 −37% reduced HEINEKEN NV UNSPONS no ticker – 0.2% $4.3m 205,214 +0.2% held DE DEERE & CO Industrials 0.2% $4.0m 47,817 −7.9% reduced KINGSPAN GROUP PLC no ticker – 0.1% $3.8m 215,525 +6.8% added PG PROCTER & GAMBLE CO Consumer Defensive 0.1% $3.7m 67,238 −5.3% reduced CSCO CISCO SYS INC Technology 0.1% $3.5m 179,307 0.0% held BIC no ticker – 0.1% $3.4m 53,300 – new
Exited since Q1 2006 Sector mix Unclassified 60.1% Consumer Defensive 14.6% Financial Services 9.4% Basic Materials 8.9% Consumer Cyclical 3.8% Industrials 1.2% Healthcare 1.0% Communication Services 0.3% Energy 0.3% Technology 0.2% Real Estate 0.10% Utilities 0.05% Book over time Every quarter on file (85) Where Gardner Russo & Quinn (Tom Russo) was early Concentration and tenure
13.3% Median largest position, all quarters The largest single position as a share of the reported equity book.
77.1% Median top 10 weight, all quarters The ten largest positions together, as a share of the reported equity book.
Concentrated Style, by median largest position
2 Median completed holding, quarters