Funds › Gardner Russo & Quinn (Tom Russo) › Q1 2010Gardner Russo & Quinn (Tom Russo) 13F holdings, Q1 2010 Gardner Russo & Quinn (Tom Russo) disclosed 66 US equity positions worth $1.9bn in its Q1 2010 13F filing. Its largest position is BRK/A at 22.0% of the reported book, followed by PM and WFC. Versus Q4 2009 it opened 4 new positions, added to 20, reduced 18 and exited 2.
$1.9bn Reported equity book Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
66 Positions Distinct securities in the equity book with a reported value above zero. Options are excluded.
22.0% Largest position The largest single position as a share of the reported equity book.
90.6% Top 10 weight The ten largest positions together, as a share of the reported equity book.
8 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 Q4 2009: 4 new , 20 added , 18 reduced , 2 exited
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Stock Sector Weight Value Shares Δ shares Action BRK/A BERKSHIRE HATHAWAY INC DEL – 22.0% $408m 3,353 +1.9% added PM PHILIP MORRIS INTL INC Consumer Defensive 20.0% $372m 7.13m +12% added WFC WELLS FARGO & CO Financial Services 10.0% $185m 5.95m +9.0% added MLM MARTIN MARIETTA MATLS INC Basic Materials 7.6% $142m 1.69m +0.7% added UNILEVER N V no ticker – 7.4% $138m 4.56m +23% added SNI SCRIPPS NETWORKS INTERACT IN – 6.0% $112m 2.53m +0.1% held BRK/B BERKSHIRE HATHAWAY INC DEL – 5.9% $110m 1.35m +5095% added BF/A BROWN FORMAN CORP – 5.1% $94.3m 1.50m +2.7% added Washington Post no ticker – 4.5% $82.7m 186,289 +1.1% added HAS HASBRO INC Consumer Cyclical 2.1% $39.9m 1.04m −0.1% held ABT ABBOTT LABORATORIES Healthcare 1.2% $22.7m 430,345 +19% added PG PROCTER & GAMBLE CO Consumer Defensive 0.9% $16.6m 262,687 −2.4% reduced MKL MARKEL GROUP INC Financial Services 0.8% $14.4m 38,374 −3.5% reduced MLKN MILLERKNOLL INC Consumer Cyclical 0.7% $13.5m 747,639 −2.1% reduced HRL HORMEL FOODS CORP Consumer Defensive 0.7% $13.3m 317,199 −3.1% reduced BF/B BROWN FORMAN CORP – 0.6% $10.6m 178,095 −2.2% reduced PEP PEPSICO INC Consumer Defensive 0.5% $8.5m 127,902 0.0% held CR CRANE CO Industrials 0.4% $7.1m 199,847 +6.3% added MSFT MICROSOFT CORP Technology 0.3% $6.1m 209,847 +86% added MKC MCCORMICK & CO INC Consumer Defensive 0.3% $6.0m 156,150 −0.1% held STAPLES INC no ticker – 0.3% $5.2m 220,630 +29% added CVX CHEVRON CORPORATION Energy 0.3% $4.9m 65,069 +17% added RDS/A ROYAL DUTCH SHELL PLC – 0.2% $3.4m 58,939 −0.3% held American Tower Corp no ticker – 0.2% $3.2m 75,860 0.0% held LEUCADIA NATL CORP no ticker – 0.2% $3.1m 125,786 +0.6% added PGR PROGRESSIVE CORP Financial Services 0.2% $3.1m 160,714 −2.4% reduced AXP AMERICAN EXPRESS CO Financial Services 0.1% $2.8m 67,155 −1.3% reduced CSL CARLISLE COS INC Industrials 0.1% $2.5m 65,738 −5.2% reduced VMC VULCAN MATLS CO Basic Materials 0.1% $2.3m 48,975 −14% reduced KO COCA COLA CO Consumer Defensive 0.1% $2.0m 35,731 +14% added DOV DOVER CORP Industrials 0.09% $1.8m 37,750 −6.2% reduced FMX FOMENTO ECONOMICO MEXICANO S Consumer Defensive 0.09% $1.6m 33,500 – new ENCANA CORP no ticker – 0.08% $1.6m 50,000 0.0% held WMT WALMART INC Consumer Defensive 0.08% $1.4m 25,743 +2.0% added VNO VORNADO RLTY TR Real Estate 0.07% $1.3m 17,612 0.0% held JNJ JOHNSON & JOHNSON Healthcare 0.06% $1.2m 18,321 +6.3% added FULT FULTON FINL CORP PA Financial Services 0.06% $1.1m 112,182 0.0% held MESA RTY TR no ticker – 0.05% $872k 21,000 0.0% held ATR APTARGROUP INC Healthcare 0.04% $826k 20,984 −13% reduced HTLD HEARTLAND EXPRESS INC Industrials 0.04% $817k 49,526 −20% reduced BBTUSD BB&T CORP – 0.04% $815k 25,150 +66% added GD GENERAL DYNAMICS CORP Industrials 0.04% $753k 9,750 −11% reduced IBM INTERNATIONAL BUSINESS MACHS Technology 0.04% $699k 5,451 −16% reduced BP BP PLC Energy 0.04% $682k 11,956 0.0% held MAT MATTEL INC Consumer Cyclical 0.04% $654k 28,750 −8.0% reduced SLB SLB LIMITED Energy 0.04% $654k 10,300 +6.7% added MCD MCDONALDS CORP Consumer Cyclical 0.03% $642k 9,625 −23% reduced PXDEUR PIONEER NAT RES CO – 0.03% $642k 11,400 −1.7% reduced DU PONT E I DE NEMOURS & CO no ticker – 0.03% $636k 17,076 0.0% held DE DEERE & CO Industrials 0.03% $614k 10,325 0.0% held
Exited since Q4 2009 2 rows
Stock Prior weight Prior value Eaton Vance Ins PA Mun BD FD no ticker 0.05% $732k FPL Group Inc no ticker 0.02% $254k
Sector mix Unclassified 52.6% Consumer Defensive 22.7% Financial Services 11.2% Basic Materials 7.8% Consumer Cyclical 2.9% Healthcare 1.3% Industrials 0.7% Technology 0.4% Energy 0.3% Real Estate 0.07% Communication Services 0.03% 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