Funds › Gardner Russo & Quinn (Tom Russo) › Q1 2020Gardner Russo & Quinn (Tom Russo) 13F holdings, Q1 2020 Gardner Russo & Quinn (Tom Russo) disclosed 84 US equity positions worth $9.9bn in its Q1 2020 13F filing. Its largest position is MA at 14.6% of the reported book, followed by Nestle SA-Spons ADR and BRK/A. Versus Q4 2019 it opened 1 new position, added to 19, reduced 47 and exited 10.
$9.9bn Reported equity book Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
84 Positions Distinct securities in the equity book with a reported value above zero. Options are excluded.
14.6% Largest position The largest single position as a share of the reported equity book.
77.1% Top 10 weight The ten largest positions together, as a share of the reported equity book.
13 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 2019: 1 new , 19 added , 47 reduced , 10 exited
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Stock Sector Weight Value Shares Δ shares Action MA MASTERCARD INC Financial Services 14.6% $1.4bn 5.98m −6.3% reduced Nestle SA-Spons ADR no ticker – 12.9% $1.3bn 12.36m −3.2% reduced BRK/A BERKSHIRE HATHAWAY INC DEL – 10.4% $1.0bn 3,777 −1.9% reduced Heineken Holding NV no ticker – 6.9% $678m 8.84m −1.7% reduced Pernod Ricard no ticker – 6.8% $676m 4.76m −1.8% reduced PM PHILIP MORRIS INTL INC Consumer Defensive 6.3% $623m 8.54m −3.7% reduced UNILEVER N V no ticker – 6.1% $602m 12.33m −0.4% held Compagnie Financiere Richemont no ticker – 4.6% $458m 8.35m −18% reduced GOOG ALPHABET INC Communication Services 4.6% $458m 393,781 +26% added BRK/B BERKSHIRE HATHAWAY INC DEL – 3.9% $389m 2.13m −3.7% reduced Anheuser-Busch InBev SA no ticker – 3.5% $350m 7.89m +4.2% added JPM JPMORGAN CHASE & CO Financial Services 3.5% $345m 3.83m +36846% added MLM MARTIN MARIETTA MATLS INC Basic Materials 3.2% $312m 1.65m −2.2% reduced The Swatch Group AG-BR no ticker – 2.1% $203m 1.02m −2.7% reduced CMCSA COMCAST CORP NEW Communication Services 2.0% $193m 5.61m −2.9% reduced BF/A BROWN FORMAN CORP – 1.9% $189m 3.68m −1.5% reduced Diageo PLC no ticker – 1.7% $170m 5.29m −2.5% reduced JC Decaux SA ACT no ticker – 1.1% $111m 6.14m −3.3% reduced BF/B BROWN FORMAN CORP – 0.9% $90.7m 1.63m −5.1% reduced V VISA INC Financial Services 0.8% $82.7m 513,113 +3.7% added WFC WELLS FARGO & CO Financial Services 0.4% $43.0m 1.50m −88% reduced DEO DIAGEO PLC Consumer Defensive 0.3% $28.9m 227,406 −2.2% reduced MO ALTRIA GROUP INC Consumer Defensive 0.1% $14.5m 374,042 −83% reduced Swedish Match AB no ticker – 0.1% $10.4m 182,180 −7.0% reduced AXP AMERICAN EXPRESS CO Financial Services 0.1% $10.4m 121,643 −7.8% reduced VMC VULCAN MATLS CO Basic Materials 0.08% $7.7m 71,204 +26% added MKL MARKEL GROUP INC Financial Services 0.07% $6.9m 7,427 −1.3% reduced HRL HORMEL FOODS CORP Consumer Defensive 0.07% $6.8m 146,074 −3.1% reduced EXMOC EXXON MOBIL CORP – 0.06% $5.5m 146,081 0.0% held FMX FOMENTO ECONOMICO MEXICANO S Consumer Defensive 0.05% $5.0m 83,376 −22% reduced CR CRANE CO Industrials 0.05% $4.7m 95,768 −0.8% reduced OUT OUTFRONT MEDIA INC Real Estate 0.05% $4.7m 347,682 +9.7% added Nestle SA-REG no ticker – 0.04% $4.3m 42,250 0.0% held PG PROCTER & GAMBLE CO Consumer Defensive 0.04% $4.1m 37,563 −1.2% reduced Danone ADR no ticker – 0.04% $3.9m 299,150 −11% reduced MKC MCCORMICK & CO INC Consumer Defensive 0.04% $3.8m 27,146 −5.4% reduced MLKN MILLERKNOLL INC Consumer Cyclical 0.04% $3.6m 163,981 −1.5% reduced KO COCA COLA CO Consumer Defensive 0.04% $3.5m 79,607 −21% reduced DOV DOVER CORP Industrials 0.03% $3.4m 41,065 −2.4% reduced Heineken NV no ticker – 0.03% $3.4m 40,588 0.0% held PEP PEPSICO INC Consumer Defensive 0.03% $2.8m 23,474 −2.5% reduced Davide Campari-Milano SPA no ticker – 0.03% $2.5m 344,615 +425% added Anheuser-Busch InBev SA Restri no ticker – 0.02% $2.2m 49,357 0.0% held Lindt & Spruengli AG - Reg no ticker – 0.02% $2.2m 25 −3.8% reduced GOOGL ALPHABET INC Communication Services 0.02% $2.0m 1,748 −3.9% reduced Unilever NV no ticker – 0.02% $1.9m 39,000 0.0% held PNC PNC FINL SVCS GROUP INC Financial Services 0.02% $1.6m 16,988 0.0% held Loreal SA no ticker – 0.02% $1.5m 5,798 +18% added Eaton Vance Sr Income TR SF no ticker – 0.01% $1.5m 315,110 +4.9% added COST COSTCO WHOLESALE CORPORATION Consumer Defensive 0.01% $1.4m 5,029 −2.6% reduced
Exited since Q4 2019 Sector mix Unclassified 63.3% Financial Services 19.6% Consumer Defensive 7.0% Communication Services 6.6% Basic Materials 3.2% Industrials 0.08% Real Estate 0.05% Consumer Cyclical 0.04% Healthcare 0.02% Technology 0.01% Energy 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