Funds › Gardner Russo & Quinn (Tom Russo) › Q1 2011Gardner Russo & Quinn (Tom Russo) 13F holdings, Q1 2011 Gardner Russo & Quinn (Tom Russo) disclosed 69 US equity positions worth $2.7bn in its Q1 2011 13F filing. Its largest position is Nestle SA-Spons at 21.0% of the reported book, followed by PM and BRK/A. Versus Q4 2010 it opened 10 new positions, added to 17, reduced 22 and exited 1.
$2.7bn Reported equity book Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
69 Positions Distinct securities in the equity book with a reported value above zero. Options are excluded.
21.0% Largest position The largest single position as a share of the reported equity book.
92.0% 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 2010: 10 new , 17 added , 22 reduced , 1 exited
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Stock Sector Weight Value Shares Δ shares Action Nestle SA-Spons no ticker – 21.0% $562m 9.76m – new PM PHILIP MORRIS INTL INC Consumer Defensive 19.6% $525m 7.99m +2.9% added BRK/A BERKSHIRE HATHAWAY INC DEL – 16.7% $446m 3,556 +2.5% added WFC WELLS FARGO & CO Financial Services 8.1% $218m 6.86m +3.8% added UNILEVER N V no ticker – 7.3% $194m 6.19m +4.6% added MLM MARTIN MARIETTA MATLS INC Basic Materials 5.2% $138m 1.54m +2.1% added BRK/B BERKSHIRE HATHAWAY INC DEL – 4.5% $121m 1.45m +3.1% added BF/A BROWN FORMAN CORP – 4.2% $111m 1.64m +4.3% added SNI SCRIPPS NETWORKS INTERACT IN – 3.3% $87.0m 1.74m +3.9% added Washington Post no ticker – 2.1% $57.3m 131,063 −2.9% reduced HAS HASBRO INC Consumer Cyclical 1.6% $43.2m 922,321 −2.1% reduced ABT ABBOTT LABORATORIES Healthcare 0.8% $21.4m 436,545 +1.1% added MLKN MILLERKNOLL INC Consumer Cyclical 0.5% $14.1m 511,911 −14% reduced PG PROCTER & GAMBLE CO Consumer Defensive 0.4% $11.2m 181,756 −7.1% reduced MKL MARKEL GROUP INC Financial Services 0.4% $10.2m 24,679 −15% reduced CR CRANE CO Industrials 0.4% $9.4m 193,597 −0.8% reduced PEP PEPSICO INC Consumer Defensive 0.3% $8.2m 127,588 +2.6% added BF/B BROWN FORMAN CORP – 0.3% $7.6m 111,062 −5.1% reduced CVX CHEVRON CORPORATION Energy 0.3% $7.3m 68,276 +0.6% added HRL HORMEL FOODS CORP Consumer Defensive 0.3% $6.8m 245,366 +88% added MKC MCCORMICK & CO INC Consumer Defensive 0.3% $6.8m 141,800 −2.2% reduced FMX FOMENTO ECONOMICO MEXICANO S Consumer Defensive 0.2% $5.3m 90,250 +0.7% added STAPLES INC no ticker – 0.2% $4.7m 240,280 −5.4% reduced AXP AMERICAN EXPRESS CO Financial Services 0.2% $4.2m 92,400 −0.4% held MSFT MICROSOFT CORP Technology 0.2% $4.1m 161,997 −17% reduced LEUCADIA NATL CORP no ticker – 0.1% $4.0m 106,200 −17% reduced KO COCA COLA CO Consumer Defensive 0.1% $3.9m 58,811 −1.9% reduced RDS/A ROYAL DUTCH SHELL PLC – 0.1% $3.8m 52,294 −3.1% reduced American Tower Corp no ticker – 0.1% $3.7m 71,400 0.0% held Danone no ticker – 0.1% $2.9m 224,800 – new PGR PROGRESSIVE CORP Financial Services 0.1% $2.7m 128,129 −4.7% reduced CSL CARLISLE COS INC Industrials 0.09% $2.3m 51,634 −20% reduced DOV DOVER CORP Industrials 0.09% $2.3m 34,950 −1.1% reduced IBM INTERNATIONAL BUSINESS MACHS Technology 0.07% $1.8m 11,147 +16% added WMT WALMART INC Consumer Defensive 0.05% $1.3m 24,078 −0.8% reduced FULT FULTON FINL CORP PA Financial Services 0.04% $1.1m 101,720 −6.3% reduced Heineken NV Unspons no ticker – 0.04% $1.1m 40,762 – new PNC PNC FINL SVCS GROUP INC Financial Services 0.04% $1.1m 17,274 +90% added CIE Financiere Richemont-Unsp no ticker – 0.04% $1.0m 178,650 – new DE DEERE & CO Industrials 0.04% $998k 10,300 +2.2% added GD GENERAL DYNAMICS CORP Industrials 0.04% $988k 12,900 +39% added PRECISION CASTPARTS CORP no ticker – 0.04% $971k 6,600 0.0% held DU PONT E I DE NEMOURS & CO no ticker – 0.04% $945k 17,184 +0.4% held ATR APTARGROUP INC Healthcare 0.03% $897k 17,884 0.0% held VNO VORNADO RLTY TR Real Estate 0.03% $875k 10,000 0.0% held Pernod-Ricard SA-Unspon no ticker – 0.03% $854k 45,655 – new JNJ JOHNSON & JOHNSON Healthcare 0.03% $779k 13,151 −10% reduced BBTUSD BB&T CORP – 0.03% $690k 25,150 0.0% held PXDEUR PIONEER NAT RES CO – 0.02% $662k 6,500 0.0% held SLB SLB LIMITED Energy 0.02% $613k 6,575 0.0% held
Exited since Q4 2010 1 row
Stock Prior weight Prior value TWXCHF TIME WARNER INC 0.01% $248k
Sector mix Unclassified 60.3% Consumer Defensive 21.3% Financial Services 8.9% Basic Materials 5.2% Consumer Cyclical 2.2% Healthcare 0.9% Industrials 0.6% Energy 0.3% Technology 0.2% Real Estate 0.03% Communication Services 0.02% 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