Funds › Gardner Russo & Quinn (Tom Russo) › Q3 2023Gardner Russo & Quinn (Tom Russo) 13F holdings, Q3 2023 Gardner Russo & Quinn (Tom Russo) disclosed 82 US equity positions worth $9.2bn in its Q3 2023 13F filing. Its largest position is BRK/A at 14.4% of the reported book, followed by GOOG and MA. Versus Q2 2023 it opened 1 new position, added to 9, reduced 33 and exited 2.
$9.2bn Reported equity book Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
82 Positions Distinct securities in the equity book with a reported value above zero. Options are excluded.
14.4% Largest position The largest single position as a share of the reported equity book.
81.7% Top 10 weight The ten largest positions together, as a share of the reported equity book.
12 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 2023: 1 new , 9 added , 33 reduced , 2 exited
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Stock Sector Weight Value Shares Δ shares Action BRK/A BERKSHIRE HATHAWAY INC DEL – 14.4% $1.3bn 2,482 −1.9% reduced GOOG ALPHABET INC Communication Services 11.6% $1.1bn 8.09m −1.5% reduced MA MASTERCARD INC Financial Services 10.3% $943m 2.38m −1.4% reduced Nestle SA Sponsored ADR no ticker – 9.7% $889m 7.86m −2.0% reduced Compagnie Financiere Richemont no ticker – 6.7% $618m 5.05m −1.9% reduced Heineken Holding NV no ticker – 6.5% $598m 7.91m −1.1% reduced PM PHILIP MORRIS INTL INC Consumer Defensive 6.3% $578m 6.24m −1.2% reduced BRK/B BERKSHIRE HATHAWAY INC DEL – 6.2% $567m 1.62m −0.5% held Pernod Ricard no ticker – 5.1% $472m 2.82m −1.3% reduced NFLX NETFLIX INC. Communication Services 4.8% $439m 1.16m −1.2% reduced MLM MARTIN MARIETTA MATLS INC Basic Materials 4.3% $394m 958,763 −1.5% reduced Ashtead Group PLC no ticker – 3.6% $326m 5.34m −0.4% held JPM JPMORGAN CHASE & CO Financial Services 3.3% $304m 2.10m −0.7% reduced CMCSA COMCAST CORP NEW Communication Services 1.7% $156m 3.53m −2.4% reduced BF/A BROWN FORMAN CORP – 1.5% $137m 2.36m −1.9% reduced V VISA INC Financial Services 0.8% $76.2m 331,341 −0.8% reduced BF/B BROWN FORMAN CORP – 0.6% $55.4m 960,448 −0.7% reduced Anheuser-Busch InBev SA no ticker – 0.3% $30.1m 541,283 −2.5% reduced WFC WELLS FARGO & CO Financial Services 0.3% $29.7m 726,373 −0.8% reduced EXMOC EXXON MOBIL CORP – 0.2% $21.0m 178,180 −0.1% held CABO CABLE ONE INC Communication Services 0.2% $15.2m 24,670 −71% reduced MKL MARKEL GROUP INC Financial Services 0.2% $14.7m 9,989 +0.7% added MO ALTRIA GROUP INC Consumer Defensive 0.2% $13.9m 330,299 +0.9% added VMC VULCAN MATLS CO Basic Materials 0.1% $10.7m 53,103 −0.9% reduced Davide Campari-Milano NV no ticker – 0.1% $9.5m 805,403 −0.5% held CR CRANE COMPANY Industrials 0.07% $6.2m 70,181 −0.2% held PG PROCTER & GAMBLE CO Consumer Defensive 0.06% $5.4m 36,684 −0.1% held UNILEVER PLC no ticker – 0.05% $4.9m 99,284 −96% reduced Nestle SA-REG no ticker – 0.05% $4.5m 39,870 0.0% held UNP UNION PACIFIC CORP Industrials 0.05% $4.4m 21,763 +0.3% held HRL HORMEL FOODS CORP Consumer Defensive 0.05% $4.4m 116,130 −2.9% reduced AXP AMERICAN EXPRESS CO Financial Services 0.05% $4.2m 28,176 −17% reduced DOV DOVER CORP Industrials 0.04% $4.0m 28,467 −0.4% held Carlsberg B A/S no ticker – 0.04% $3.7m 29,176 −0.2% held Loreal SA no ticker – 0.04% $3.5m 8,436 0.0% held MKC MCCORMICK & CO INC Consumer Defensive 0.04% $3.4m 44,950 −0.1% held GOOGL ALPHABET INC Communication Services 0.03% $2.9m 22,330 +4.2% added COST COSTCO WHOLESALE CORPORATION Consumer Defensive 0.03% $2.9m 5,143 −1.6% reduced PEP PEPSICO INC Consumer Defensive 0.03% $2.4m 14,048 −0.1% held Heineken NV no ticker – 0.02% $2.2m 25,441 0.0% held Lindt & Spruengli AG - Reg no ticker – 0.02% $2.1m 19 0.0% held Swiss Helvetia FD Inc no ticker – 0.02% $2.0m 266,253 +1.6% added ABBV ABBVIE INC Healthcare 0.02% $1.9m 12,583 −0.1% held FULT FULTON FINL CORP PA Financial Services 0.02% $1.5m 119,905 +20% added AAPL APPLE INC Technology 0.02% $1.4m 8,155 +7.8% added PNC PNC FINL SVCS GROUP INC Financial Services 0.02% $1.4m 11,268 0.0% held DD DUPONT DE NEMOURS INC Basic Materials 0.01% $1.4m 18,107 +0.4% held FMX FOMENTO ECONOMICO MEXICANO S Consumer Defensive 0.01% $1.3m 11,820 −11% reduced ABT ABBOTT LABORATORIES Healthcare 0.01% $1.1m 11,610 0.0% held KO COCA COLA CO Consumer Defensive 0.01% $1.1m 20,008 −0.7% reduced
Exited since Q2 2023 2 rows
Stock Prior weight Prior value Unilever PLC no ticker 0.02% $2.3m LVMH Moet Hennessy Louis Vuitt no ticker 0.0% $212k
Sector mix Unclassified 55.3% Communication Services 18.3% Financial Services 15.0% Consumer Defensive 6.7% Basic Materials 4.4% Industrials 0.2% Healthcare 0.04% Technology 0.03% Real Estate 0.02% Energy 0.01% Consumer Cyclical 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