Funds › Gardner Russo & Quinn (Tom Russo) › Q3 2011Gardner Russo & Quinn (Tom Russo) 13F holdings, Q3 2011 Gardner Russo & Quinn (Tom Russo) disclosed 166 US equity positions worth $2.5bn in its Q3 2011 13F filing. Its largest position is Nestle SA-Spons at 22.0% of the reported book, followed by PM and BRK/A. Versus Q2 2011 it opened 98 new positions, added to 12, reduced 31 and exited 0.
$2.5bn Reported equity book Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
166 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.
92.8% 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 2011: 98 new , 12 added , 31 reduced , 0 exited
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Stock Sector Weight Value Shares Δ shares Action Nestle SA-Spons no ticker – 22.0% $550m 9.97m +0.2% held PM PHILIP MORRIS INTL INC Consumer Defensive 20.5% $512m 8.21m +1.0% added BRK/A BERKSHIRE HATHAWAY INC DEL – 16.4% $409m 3,834 +3.2% added UNILEVER N V no ticker – 8.4% $209m 6.64m +2.3% added WFC WELLS FARGO & CO Financial Services 8.4% $209m 8.66m +7.2% added BF/A BROWN FORMAN CORP – 4.7% $117m 1.73m +1.6% added BRK/B BERKSHIRE HATHAWAY INC DEL – 4.3% $108m 1.52m +2.2% added MLM MARTIN MARIETTA MATLS INC Basic Materials 4.0% $99.2m 1.57m +1.5% added SNI SCRIPPS NETWORKS INTERACT IN – 2.4% $60.2m 1.62m 0.0% held Washington Post no ticker – 1.6% $40.7m 124,419 −0.3% held HAS HASBRO INC Consumer Cyclical 1.2% $30.9m 946,654 +0.5% held ABT ABBOTT LABORATORIES Healthcare 0.9% $21.7m 425,177 −2.2% reduced PG PROCTER & GAMBLE CO Consumer Defensive 0.5% $11.8m 186,137 −4.5% reduced MLKN MILLERKNOLL INC Consumer Cyclical 0.3% $8.2m 457,561 −1.1% reduced MKL MARKEL GROUP INC Financial Services 0.3% $8.0m 22,394 −4.3% reduced BF/B BROWN FORMAN CORP – 0.3% $7.2m 102,860 −5.9% reduced CR CRANE CO Industrials 0.3% $6.9m 191,947 +0.7% added FMX FOMENTO ECONOMICO MEXICANO S Consumer Defensive 0.3% $6.7m 104,119 −1.8% reduced CVX CHEVRON CORPORATION Energy 0.2% $6.0m 64,646 −5.2% reduced HRL HORMEL FOODS CORP Consumer Defensive 0.2% $5.9m 219,779 −3.8% reduced PEP PEPSICO INC Consumer Defensive 0.2% $5.5m 88,105 −4.7% reduced AXP AMERICAN EXPRESS CO Financial Services 0.2% $5.2m 115,250 −6.8% reduced KO COCA COLA CO Consumer Defensive 0.2% $4.8m 70,986 −0.2% held MKC MCCORMICK & CO INC Consumer Defensive 0.2% $4.4m 94,416 −32% reduced RDS/A ROYAL DUTCH SHELL PLC – 0.2% $4.1m 66,619 −3.9% reduced American Tower Corp no ticker – 0.2% $3.8m 71,330 0.0% held MSFT MICROSOFT CORP Technology 0.1% $3.2m 126,947 −4.7% reduced STAPLES INC no ticker – 0.1% $3.0m 226,080 −5.6% reduced DOV DOVER CORP Industrials 0.1% $2.9m 63,175 +74% added Danone no ticker – 0.1% $2.8m 222,750 0.0% held PGR PROGRESSIVE CORP Financial Services 0.09% $2.2m 121,132 −0.8% reduced IBM INTERNATIONAL BUSINESS MACHS Technology 0.08% $1.9m 11,102 +0.9% added PNC PNC FINL SVCS GROUP INC Financial Services 0.07% $1.8m 37,774 +106% added Wells Fargo WTS Exp 10/28/18 WTS no ticker – 0.05% $1.2m 152,250 +41% added PRECISION CASTPARTS CORP no ticker – 0.04% $1.0m 6,600 0.0% held WMT WALMART INC Consumer Defensive 0.04% $1.0m 19,478 −21% reduced VMC VULCAN MATLS CO Basic Materials 0.04% $956k 34,675 −11% reduced LEUCADIA NATL CORP no ticker – 0.04% $901k 39,715 −61% reduced JNJ JOHNSON & JOHNSON Healthcare 0.03% $831k 13,051 −0.4% held ATR APTARGROUP INC Healthcare 0.03% $799k 17,884 0.0% held FULT FULTON FINL CORP PA Financial Services 0.03% $747k 97,591 −1.0% reduced VNO VORNADO RLTY TR Real Estate 0.03% $746k 10,000 0.0% held GD GENERAL DYNAMICS CORP Industrials 0.03% $705k 12,400 −3.9% reduced Heineken NV Unspons no ticker – 0.03% $699k 31,087 −24% reduced DU PONT E I DE NEMOURS & CO no ticker – 0.03% $687k 17,184 0.0% held DE DEERE & CO Industrials 0.03% $665k 10,300 0.0% held MCD MCDONALDS CORP Consumer Cyclical 0.03% $662k 7,535 −1.0% reduced MAT MATTEL INC Consumer Cyclical 0.02% $586k 22,625 0.0% held CIE Financiere Richemont-Unsp no ticker – 0.02% $574k 127,400 −29% reduced Pernod-Ricard SA-Unspon no ticker – 0.02% $536k 33,955 −26% reduced
Sector mix Unclassified 61.1% Consumer Defensive 22.2% Financial Services 9.1% Basic Materials 4.0% Consumer Cyclical 1.6% Healthcare 1.0% Industrials 0.5% Energy 0.3% Technology 0.2% Real Estate 0.03% Communication Services 0.02% 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