Funds › Gardner Russo & Quinn (Tom Russo) › Q3 2016Gardner Russo & Quinn (Tom Russo) 13F holdings, Q3 2016 Gardner Russo & Quinn (Tom Russo) disclosed 100 US equity positions worth $12.0bn in its Q3 2016 13F filing. Its largest position is Nestle SA-Spons ADR at 10.4% of the reported book, followed by BRK/A and PM. Versus Q2 2016 it opened 3 new positions, added to 19, reduced 28 and exited 8.
$12.0bn Reported equity book Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
100 Positions Distinct securities in the equity book with a reported value above zero. Options are excluded.
10.4% Largest position The largest single position as a share of the reported equity book.
74.0% 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 Q2 2016: 3 new , 19 added , 28 reduced , 8 exited
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Stock Sector Weight Value Shares Δ shares Action Nestle SA-Spons ADR no ticker – 10.4% $1.2bn 15.82m −0.1% held BRK/A BERKSHIRE HATHAWAY INC DEL – 9.0% $1.1bn 4,984 −0.3% held PM PHILIP MORRIS INTL INC Consumer Defensive 8.3% $1.0bn 10.31m −1.7% reduced MA MASTERCARD INC Financial Services 8.3% $995m 9.78m +0.4% held Heineken Holding NV no ticker – 7.2% $867m 10.81m −0.1% held BUD ANHEUSER BUSCH INBEV SA NV Consumer Defensive 7.2% $866m 6.59m +1.0% added Pernod Ricard no ticker – 6.2% $745m 6.30m −0.1% held Compagnie Financiere Richemont no ticker – 6.1% $729m 11.93m +2.2% added WFC WELLS FARGO & CO Financial Services 5.8% $700m 15.81m +4.1% added UNILEVER N V no ticker – 5.5% $660m 14.32m 0.0% held BRK/B BERKSHIRE HATHAWAY INC DEL – 3.1% $374m 2.59m +0.3% held MO ALTRIA GROUP INC Consumer Defensive 3.1% $373m 5.89m −0.6% reduced MLM MARTIN MARIETTA MATLS INC Basic Materials 3.1% $371m 2.07m −0.8% reduced British American Tobacco PLC no ticker – 2.7% $324m 5.06m −0.6% reduced The Swatch Group AG-BR no ticker – 2.3% $277m 977,574 +1.3% added Diageo PLC no ticker – 2.2% $269m 9.35m +0.2% held CMCSA COMCAST CORP NEW Communication Services 2.1% $251m 3.78m −0.9% reduced BF/A BROWN FORMAN CORP – 2.0% $235m 4.73m +96% added JC Decaux SA ACT no ticker – 1.7% $203m 6.29m +4.2% added SNI SCRIPPS NETWORKS INTERACT IN – 0.6% $74.8m 1.18m −0.2% held BF/B BROWN FORMAN CORP – 0.5% $59.6m 1.26m +113% added DEO DIAGEO PLC Consumer Defensive 0.5% $55.9m 482,019 +1.2% added V VISA INC Financial Services 0.4% $44.8m 542,014 +0.2% held EXMOC EXXON MOBIL CORP – 0.1% $14.3m 163,315 −2.3% reduced FMX FOMENTO ECONOMICO MEXICANO S Consumer Defensive 0.10% $11.5m 124,665 +0.8% added MKL MARKEL GROUP INC Financial Services 0.09% $11.1m 11,987 −2.3% reduced Swedish Match AB no ticker – 0.09% $11.1m 300,938 −0.9% reduced Anheuser-Busch InBev SA no ticker – 0.08% $10.0m 76,260 – new AXP AMERICAN EXPRESS CO Financial Services 0.08% $10.0m 155,638 +1.2% added Danone ADR no ticker – 0.08% $9.9m 665,770 −0.2% held CR CRANE CO Industrials 0.08% $9.7m 153,741 −1.7% reduced KO COCA COLA CO Consumer Defensive 0.07% $7.9m 185,892 −5.7% reduced PG PROCTER & GAMBLE CO Consumer Defensive 0.06% $7.1m 78,792 −1.6% reduced MLKN MILLERKNOLL INC Consumer Cyclical 0.05% $6.4m 223,543 −1.5% reduced HRL HORMEL FOODS CORP Consumer Defensive 0.05% $6.2m 163,849 −1.2% reduced OUT OUTFRONT MEDIA INC Real Estate 0.05% $5.9m 250,700 +0.4% held JP Morgan Chase & Co WTS Exp 1 no ticker – 0.05% $5.8m 234,750 +0.6% added DOV DOVER CORP Industrials 0.04% $4.6m 62,326 +3.7% added Heineken NV no ticker – 0.04% $4.4m 49,788 0.0% held PEP PEPSICO INC Consumer Defensive 0.03% $4.0m 37,062 +5.4% added SABMiller PLC no ticker – 0.03% $3.8m 65,760 −2.7% reduced CVX CHEVRON CORPORATION Energy 0.03% $3.7m 35,542 −7.8% reduced MKC MCCORMICK & CO INC Consumer Defensive 0.03% $3.5m 35,005 −6.5% reduced M&T Bank Corp Wts Exp 12/23/1 no ticker – 0.03% $3.5m 82,139 0.0% held Wells Fargo WTS Exp 10/28/18 no ticker – 0.03% $3.3m 268,000 +3.9% added Nestle SA-REG no ticker – 0.03% $3.3m 41,310 0.0% held BIC no ticker – 0.03% $3.2m 21,725 −1.1% reduced MSFT MICROSOFT CORP Technology 0.02% $2.9m 50,550 +0.8% added RDS/A ROYAL DUTCH SHELL PLC – 0.02% $2.9m 57,920 −1.1% reduced Reckitt Benckiser Group PLC no ticker – 0.02% $2.8m 29,537 −1.0% reduced
Exited since Q2 2016 Sector mix Unclassified 60.3% Consumer Defensive 19.5% Financial Services 14.7% Basic Materials 3.1% Communication Services 2.1% Industrials 0.1% Consumer Cyclical 0.06% Real Estate 0.06% Technology 0.04% Energy 0.04% Healthcare 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