Funds › Gardner Russo & Quinn (Tom Russo) › Q3 2018Gardner Russo & Quinn (Tom Russo) 13F holdings, Q3 2018 Gardner Russo & Quinn (Tom Russo) disclosed 95 US equity positions worth $13.8bn in its Q3 2018 13F filing. Its largest position is MA at 13.4% of the reported book, followed by BRK/A and Nestle SA-Spons ADR. Versus Q2 2018 it opened 3 new positions, added to 20, reduced 40 and exited 6.
$13.8bn Reported equity book Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
95 Positions Distinct securities in the equity book with a reported value above zero. Options are excluded.
13.4% Largest position The largest single position as a share of the reported equity book.
76.2% Top 10 weight The ten largest positions together, as a share of the reported equity book.
14 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 2018: 3 new , 20 added , 40 reduced , 6 exited
50 of 95 Show all 95
Stock Sector Weight Value Shares Δ shares Action MA MASTERCARD INC Financial Services 13.4% $1.9bn 8.35m −3.6% reduced BRK/A BERKSHIRE HATHAWAY INC DEL – 10.5% $1.5bn 4,555 −1.4% reduced Nestle SA-Spons ADR no ticker – 9.3% $1.3bn 15.39m −1.9% reduced Pernod Ricard no ticker – 6.9% $960m 5.85m −0.7% reduced Heineken Holding NV no ticker – 6.9% $959m 10.59m +0.2% held Compagnie Financiere Richemont no ticker – 6.9% $954m 11.64m +1.2% added PM PHILIP MORRIS INTL INC Consumer Defensive 6.1% $840m 10.30m −0.9% reduced UNILEVER N V no ticker – 5.9% $818m 14.72m −1.5% reduced Anheuser-Busch InBev SA no ticker – 5.1% $704m 8.06m +0.1% held WFC WELLS FARGO & CO Financial Services 5.1% $703m 13.38m +9.0% added BRK/B BERKSHIRE HATHAWAY INC DEL – 4.0% $546m 2.55m +1.0% added The Swatch Group AG-BR no ticker – 3.5% $478m 1.20m +4.0% added MLM MARTIN MARIETTA MATLS INC Basic Materials 2.6% $362m 1.99m −0.2% held MO ALTRIA GROUP INC Consumer Defensive 2.4% $329m 5.45m −1.7% reduced Diageo PLC no ticker – 2.0% $280m 7.90m −1.4% reduced JC Decaux SA ACT no ticker – 2.0% $279m 7.63m −1.1% reduced CMCSA COMCAST CORP NEW Communication Services 1.8% $248m 7.00m −1.1% reduced BF/A BROWN FORMAN CORP – 1.6% $218m 4.30m −0.3% held BF/B BROWN FORMAN CORP – 0.9% $127m 2.51m −5.0% reduced V VISA INC Financial Services 0.7% $92.5m 616,572 −1.2% reduced GOOG ALPHABET INC Communication Services 0.5% $68.4m 57,351 +1.1% added DEO DIAGEO PLC Consumer Defensive 0.4% $55.3m 390,477 −3.0% reduced AXP AMERICAN EXPRESS CO Financial Services 0.1% $18.9m 177,446 −1.6% reduced FMX FOMENTO ECONOMICO MEXICANO S Consumer Defensive 0.1% $16.1m 162,402 −1.0% reduced Swedish Match AB no ticker – 0.10% $13.2m 258,395 −0.5% held EXMOC EXXON MOBIL CORP – 0.10% $13.2m 154,948 +0.4% held Danone ADR no ticker – 0.09% $12.8m 828,970 −2.2% reduced CR CRANE CO Industrials 0.08% $11.5m 116,518 −2.8% reduced MKL MARKEL GROUP INC Financial Services 0.07% $9.5m 8,000 −1.1% reduced OUT OUTFRONT MEDIA INC Real Estate 0.07% $9.1m 457,996 +0.6% added MLKN MILLERKNOLL INC Consumer Cyclical 0.05% $7.3m 190,266 −2.9% reduced HRL HORMEL FOODS CORP Consumer Defensive 0.05% $6.3m 160,023 +0.9% added VMC VULCAN MATLS CO Basic Materials 0.04% $6.2m 55,415 +1.0% added KO COCA COLA CO Consumer Defensive 0.04% $5.5m 119,308 −2.2% reduced Anheuser-Busch InBev SA Restri no ticker – 0.03% $4.5m 51,983 0.0% held DOV DOVER CORP Industrials 0.03% $4.5m 50,291 −1.9% reduced MKC MCCORMICK & CO INC Consumer Defensive 0.03% $4.3m 32,805 −1.9% reduced Heineken NV no ticker – 0.03% $4.3m 45,988 0.0% held PG PROCTER & GAMBLE CO Consumer Defensive 0.03% $3.9m 47,439 −2.9% reduced PEP PEPSICO INC Consumer Defensive 0.03% $3.6m 31,975 −0.6% reduced Nestle SA-REG no ticker – 0.02% $3.4m 41,000 0.0% held DOWDUPONT INC no ticker – 0.02% $3.1m 47,631 0.0% held RDS/A ROYAL DUTCH SHELL PLC – 0.02% $2.7m 40,050 −12% reduced PNC PNC FINL SVCS GROUP INC Financial Services 0.02% $2.7m 19,568 −6.6% reduced Reckitt Benckiser Group PLC no ticker – 0.02% $2.3m 24,717 −1.7% reduced GOOGL ALPHABET INC Communication Services 0.02% $2.3m 1,871 0.0% held Unilever NV no ticker – 0.02% $2.2m 39,000 0.0% held Lindt & Spruengli AG - Reg no ticker – 0.02% $2.1m 26 −3.7% reduced BIC no ticker – 0.01% $2.0m 22,055 +4.7% added FULT FULTON FINL CORP PA Financial Services 0.01% $2.0m 120,154 −0.1% held
Exited since Q2 2018 6 rows
Stock Prior weight Prior value British American Tobacco PLC no ticker 0.5% $63.4m Wells Fargo WTS Exp 10/28/18 no ticker 0.01% $1.8m JP Morgan Chase & Co WTS Exp 1 no ticker 0.01% $946k SLB SLB LIMITED 0.0% $283k CSFLUSD CENTERSTATE BK CORP 0.0% $218k JNJ JOHNSON & JOHNSON 0.0% $208k
Sector mix Unclassified 66.1% Financial Services 19.5% Consumer Defensive 9.2% Basic Materials 2.7% Communication Services 2.3% Industrials 0.1% Real Estate 0.07% Consumer Cyclical 0.06% Healthcare 0.02% Energy 0.01% Technology 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