Funds › Gardner Russo & Quinn (Tom Russo) › Q3 2010Gardner Russo & Quinn (Tom Russo) 13F holdings, Q3 2010 Gardner Russo & Quinn (Tom Russo) disclosed 63 US equity positions worth $1.8bn in its Q3 2010 13F filing. Its largest position is BRK/A at 23.1% of the reported book, followed by PM and UNILEVER N V. Versus Q2 2010 it opened 2 new positions, added to 10, reduced 37 and exited 2.
$1.8bn Reported equity book Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
63 Positions Distinct securities in the equity book with a reported value above zero. Options are excluded.
23.1% Largest position The largest single position as a share of the reported equity book.
90.8% Top 10 weight The ten largest positions together, as a share of the reported equity book.
7 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 Q2 2010: 2 new , 10 added , 37 reduced , 2 exited
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Stock Sector Weight Value Shares Δ shares Action BRK/A BERKSHIRE HATHAWAY INC DEL – 23.1% $422m 3,392 +0.9% added PM PHILIP MORRIS INTL INC Consumer Defensive 23.1% $421m 7.52m +1.3% added UNILEVER N V no ticker – 8.7% $159m 5.32m +5.0% added WFC WELLS FARGO & CO Financial Services 8.5% $156m 6.19m +14% added BRK/B BERKSHIRE HATHAWAY INC DEL – 6.2% $113m 1.36m +0.8% added MLM MARTIN MARIETTA MATLS INC Basic Materials 6.1% $112m 1.45m −3.6% reduced BF/A BROWN FORMAN CORP – 5.1% $93.6m 1.52m +1.3% added SNI SCRIPPS NETWORKS INTERACT IN – 4.7% $86.6m 1.82m −16% reduced Washington Post no ticker – 2.9% $53.8m 134,586 −16% reduced HAS HASBRO INC Consumer Cyclical 2.3% $42.7m 960,346 −5.9% reduced ABT ABBOTT LABORATORIES Healthcare 1.2% $22.3m 427,020 −1.1% reduced MLKN MILLERKNOLL INC Consumer Cyclical 0.7% $13.4m 679,831 −6.8% reduced PG PROCTER & GAMBLE CO Consumer Defensive 0.7% $12.4m 206,115 −7.0% reduced HRL HORMEL FOODS CORP Consumer Defensive 0.7% $12.4m 277,066 −3.2% reduced MKL MARKEL GROUP INC Financial Services 0.6% $11.0m 31,984 −15% reduced BF/B BROWN FORMAN CORP – 0.5% $10.0m 162,561 −3.7% reduced PEP PEPSICO INC Consumer Defensive 0.5% $8.4m 126,204 −0.7% reduced CR CRANE CO Industrials 0.4% $7.5m 196,997 −1.3% reduced MKC MCCORMICK & CO INC Consumer Defensive 0.3% $6.2m 148,200 −2.8% reduced STAPLES INC no ticker – 0.3% $5.6m 267,630 +16% added CVX CHEVRON CORPORATION Energy 0.3% $5.4m 66,717 +1.3% added MSFT MICROSOFT CORP Technology 0.3% $5.1m 206,622 −0.5% reduced FMX FOMENTO ECONOMICO MEXICANO S Consumer Defensive 0.2% $4.3m 85,475 +1.2% added AXP AMERICAN EXPRESS CO Financial Services 0.2% $3.9m 93,155 0.0% held American Tower Corp no ticker – 0.2% $3.7m 71,460 −5.8% reduced KO COCA COLA CO Consumer Defensive 0.2% $3.5m 60,651 0.0% held RDS/A ROYAL DUTCH SHELL PLC – 0.2% $3.3m 53,994 −6.7% reduced PGR PROGRESSIVE CORP Financial Services 0.2% $3.1m 147,614 −1.5% reduced LEUCADIA NATL CORP no ticker – 0.2% $3.0m 128,886 −1.2% reduced CSL CARLISLE COS INC Industrials 0.1% $1.9m 64,638 −0.2% held DOV DOVER CORP Industrials 0.1% $1.9m 36,250 −2.9% reduced ENCANA CORP no ticker – 0.08% $1.5m 50,000 0.0% held WMT WALMART INC Consumer Defensive 0.07% $1.3m 24,372 −3.4% reduced IBM INTERNATIONAL BUSINESS MACHS Technology 0.06% $1.1m 7,900 +5.9% added FULT FULTON FINL CORP PA Financial Services 0.05% $1.0m 110,770 −1.3% reduced MESA RTY TR no ticker – 0.05% $971k 21,000 0.0% held JNJ JOHNSON & JOHNSON Healthcare 0.05% $945k 15,246 −15% reduced VMC VULCAN MATLS CO Basic Materials 0.05% $929k 25,150 −23% reduced VNO VORNADO RLTY TR Real Estate 0.05% $855k 10,000 0.0% held PRECISION CASTPARTS CORP no ticker – 0.05% $841k 6,600 −4.3% reduced ATR APTARGROUP INC Healthcare 0.04% $817k 17,884 −0.6% reduced DU PONT E I DE NEMOURS & CO no ticker – 0.04% $764k 17,118 0.0% held DE DEERE & CO Industrials 0.04% $703k 10,075 −2.4% reduced BBTUSD BB&T CORP – 0.03% $606k 25,150 0.0% held MCD MCDONALDS CORP Consumer Cyclical 0.03% $589k 7,910 −16% reduced GD GENERAL DYNAMICS CORP Industrials 0.03% $581k 9,250 −5.1% reduced HTLD HEARTLAND EXPRESS INC Industrials 0.03% $581k 39,061 −7.1% reduced MAT MATTEL INC Consumer Cyclical 0.03% $557k 23,750 −17% reduced PXDEUR PIONEER NAT RES CO – 0.03% $491k 7,550 −13% reduced DIS DISNEY WALT CO Communication Services 0.03% $473k 14,275 −19% reduced
Exited since Q2 2010 2 rows
Stock Prior weight Prior value PNC PNC FINL SVCS GROUP INC 0.02% $258k ALLIANCE ONE INTL INC no ticker 0.0% $64.0k
Sector mix Unclassified 52.5% Consumer Defensive 25.7% Financial Services 9.6% Basic Materials 6.2% Consumer Cyclical 3.1% Healthcare 1.3% Industrials 0.7% Energy 0.3% Technology 0.3% Real Estate 0.05% Communication Services 0.03% Utilities 0.01% 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