Funds › Gardner Russo & Quinn (Tom Russo) › Q1 2014Gardner Russo & Quinn (Tom Russo) 13F holdings, Q1 2014 Gardner Russo & Quinn (Tom Russo) disclosed 112 US equity positions worth $10.3bn in its Q1 2014 13F filing. Its largest position is Nestle SA-Spons ADR at 10.6% of the reported book, followed by BRK/A and PM. Versus Q4 2013 it opened 5 new positions, added to 39, reduced 32 and exited 3.
$10.3bn Reported equity book Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
112 Positions Distinct securities in the equity book with a reported value above zero. Options are excluded.
10.6% Largest position The largest single position as a share of the reported equity book.
71.2% Top 10 weight The ten largest positions together, as a share of the reported equity book.
16 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 2013: 5 new , 39 added , 32 reduced , 3 exited
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Stock Sector Weight Value Shares Δ shares Action Nestle SA-Spons ADR no ticker – 10.6% $1.1bn 14.58m +0.4% held BRK/A BERKSHIRE HATHAWAY INC DEL – 9.2% $957m 5,109 +0.6% added PM PHILIP MORRIS INTL INC Consumer Defensive 8.1% $834m 10.19m +2.2% added MA MASTERCARD INC Financial Services 7.1% $734m 9.83m +892% added WFC WELLS FARGO & CO Financial Services 7.1% $731m 14.69m +1.1% added Heineken Holding NV no ticker – 6.5% $672m 10.41m +2.2% added Compagnie Financiere Richemont no ticker – 6.5% $671m 7.03m +1.7% added SABMiller PLC no ticker – 5.5% $574m 11.50m +4.2% added Pernod Ricard no ticker – 5.5% $573m 4.92m +3.9% added BUD ANHEUSER BUSCH INBEV SA NV Consumer Defensive 5.1% $529m 5.02m +1.5% added UNILEVER N V no ticker – 5.0% $520m 12.65m +7.2% added BRK/B BERKSHIRE HATHAWAY INC DEL – 2.9% $301m 2.41m +3.8% added British American Tobacco PLC no ticker – 2.6% $269m 4.83m +1.8% added MO ALTRIA GROUP INC Consumer Defensive 2.6% $268m 7.15m +1.0% added Diageo PLC no ticker – 2.5% $257m 8.28m +2.3% added BF/A BROWN FORMAN CORP – 2.5% $256m 2.88m +0.3% held MLM MARTIN MARIETTA MATLS INC Basic Materials 2.5% $256m 1.99m +3.2% added COMCAST CORP NEW no ticker – 2.2% $233m 4.77m +0.3% held SNI SCRIPPS NETWORKS INTERACT IN – 1.0% $105m 1.38m −1.4% reduced JC Decaux SA ACT no ticker – 0.6% $64.3m 1.47m +0.4% held DEO DIAGEO PLC Consumer Defensive 0.5% $53.0m 425,185 +2.8% added GHC GRAHAM HLDGS CO Industrials 0.5% $51.4m 73,068 −3.7% reduced BF/B BROWN FORMAN CORP – 0.4% $38.9m 433,949 +2.1% added The Swatch Group AG-BR no ticker – 0.4% $37.5m 59,811 +1.6% added V VISA INC Financial Services 0.2% $23.9m 110,677 +2.0% added EXMOC EXXON MOBIL CORP – 0.2% $17.6m 180,151 −15% reduced CR CRANE CO Industrials 0.1% $12.1m 170,552 −1.2% reduced AXP AMERICAN EXPRESS CO Financial Services 0.1% $11.7m 129,435 +2.2% added MLKN MILLERKNOLL INC Consumer Cyclical 0.1% $11.4m 355,670 −1.0% reduced MKL MARKEL GROUP INC Financial Services 0.1% $11.3m 18,927 −1.0% reduced Swedish Match AB no ticker – 0.1% $11.1m 341,362 −1.4% reduced FMX FOMENTO ECONOMICO MEXICANO S Consumer Defensive 0.10% $10.3m 110,800 +1.0% added PG PROCTER & GAMBLE CO Consumer Defensive 0.10% $10.3m 127,297 +2.7% added GS GOLDMAN SACHS GROUP INC Financial Services 0.09% $9.2m 55,875 −1.9% reduced KO COCA COLA CO Consumer Defensive 0.08% $8.0m 207,713 +2.2% added Berner Gruppen no ticker – 0.07% $6.8m 116,554 0.0% held CVX CHEVRON CORPORATION Energy 0.06% $6.4m 54,107 −16% reduced DOV DOVER CORP Industrials 0.06% $6.4m 78,630 −3.0% reduced RDS/A ROYAL DUTCH SHELL PLC – 0.06% $5.8m 78,980 +5.4% added HRL HORMEL FOODS CORP Consumer Defensive 0.05% $5.7m 114,763 −1.8% reduced ABBV ABBVIE INC Healthcare 0.04% $4.5m 86,777 0.0% held PEP PEPSICO INC Consumer Defensive 0.04% $3.8m 45,098 −23% reduced Heineken NV no ticker – 0.04% $3.6m 52,191 0.0% held PXGBX PRAXAIR INC – 0.03% $3.6m 27,150 −8.0% reduced ABT ABBOTT LABORATORIES Healthcare 0.03% $3.3m 86,503 0.0% held Wells Fargo WTS Exp 10/28/18 no ticker – 0.03% $3.3m 177,750 0.0% held MKC MCCORMICK & CO INC Consumer Defensive 0.03% $3.2m 45,080 −1.8% reduced JP Morgan Chase & Co WTS Exp 1 no ticker – 0.03% $3.0m 150,750 0.0% held Nestle SA-REG no ticker – 0.03% $3.0m 40,310 0.0% held PRECISION CASTPARTS CORP no ticker – 0.03% $2.9m 11,325 0.0% held
Exited since Q4 2013 3 rows
Stock Prior weight Prior value BA BOEING CO 0.0% $332k DHR DANAHER CORP DEL 0.0% $320k Syngenta AG no ticker 0.0% $209k
Sector mix Unclassified 65.0% Consumer Defensive 16.7% Financial Services 14.7% Basic Materials 2.5% Industrials 0.7% Consumer Cyclical 0.1% Energy 0.08% Healthcare 0.08% Technology 0.07% 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