Gardner Russo & Quinn (Thomas Russo) latest 13F portfolio: 86 holdings worth $8.5B as of Q1 2026.
Backtested since 2020: mirroring Gardner Russo & Quinn's reported 13F equity holdings each quarter would have returned +145.1% versus +195.9%for the S&P 500 (+15.5% annualized). See the Performance tab for the full equity curve.
Investor: Thomas Russo
Number of Assets: 86
Reporting Period: Q1 - 2026
Holdings at Report: $8,496,278,296
Return $ Since Report: +$1,019,348,602
Return % Since Report: +12.00%
Company | Position | Activity | Shares | Port. % | Rep. Price | Curr. Price | Rep. Value | Curr. Value | Return Value | Return % |
|---|---|---|---|---|---|---|---|---|---|---|
| Unum Group (UNM) | Equity | 0% | 3,800 | 0.00% | $73.03 | $90.56 | $277,514 | $344,128 | +$66,614 | +24.00% |
| Brown-Forman Corp. (BF-A) | Equity | -1.21% | 1,647,878 | 0.52% | $26.79 | $29.06 | $44,146,665 | $47,887,335 | +$3,740,670 | +8.47% |
| The Coca-Cola Company (KO) | Equity | -4.51% | 13,025 | 0.01% | $76.05 | $87.05 | $990,551 | $1,133,826 | +$143,275 | +14.46% |
| Comcast Corp. (CMCSA) | Equity | -2.05% | 2,253,106 | 0.76% | $28.71 | $25.36 | $64,686,661 | $57,138,768 | -$7,547,893 | -11.67% |
| Costco Wholesale Corp. (COST) | Equity | 0% | 4,624 | 0.05% | $996.41 | $947.82 | $4,607,417 | $4,382,720 | -$224,697 | -4.88% |
| Doordash Inc. (DASH) | Equity | +7.60% | 1,001,195 | 1.77% | $150.15 | $216.26 | $150,329,429 | $216,518,431 | +$66,189,002 | +44.03% |
| Dover Corp. (DOV) | Equity | -2.05% | 19,126 | 0.05% | $208.45 | $211.13 | $3,986,815 | $4,038,072 | +$51,257 | +1.29% |
| Lamar Advertising Company (LAMR) | Equity | -10.14% | 5,368 | 0.01% | $126.66 | $160.93 | $679,911 | $863,872 | +$183,961 | +27.06% |
| Levi Strauss & Co. (LEVI) | Equity | +73.34% | 82,725 | 0.02% | $18.49 | $24.41 | $1,529,585 | $2,019,317 | +$489,732 | +32.02% |
| Markel Group Inc. (MKL) | Equity | -21.10% | 4,954 | 0.11% | $1,914.07 | $1,875.05 | $9,482,303 | $9,288,998 | -$193,305 | -2.04% |
| Outfront Media Inc. (OUT) | Equity | -13.33% | 13,588 | 0.00% | $26.50 | $31.21 | $360,082 | $424,081 | +$63,999 | +17.77% |
| Pepsico Inc. (PEP) | Equity | -6.01% | 9,205 | 0.02% | $155.28 | $139.02 | $1,429,383 | $1,279,679 | -$149,704 | -10.47% |
| Uber Technologies Inc. (UBER) | Equity | +0.55% | 5,173,404 | 4.38% | $71.93 | $75.02 | $372,122,950 | $388,108,768 | +$15,985,818 | +4.30% |
| Union Pacific Corp. (UNP) | Equity | +10.62% | 27,638 | 0.08% | $242.62 | $293.13 | $6,705,519 | $8,101,527 | +$1,396,008 | +20.82% |
| Visa Inc. (V) | Equity | -13.79% | 93,812 | 0.33% | $302.24 | $362.50 | $28,353,739 | $34,006,850 | +$5,653,111 | +19.94% |
| Vulcan Materials Company (VMC) | Equity | -8.20% | 7,263 | 0.02% | $272.30 | $284.69 | $1,977,715 | $2,067,703 | +$89,988 | +4.55% |
| Abbott Laboratories (ABT) | Equity | 0% | 11,510 | 0.01% | $102.67 | $107.81 | $1,181,732 | $1,240,893 | +$59,161 | +5.01% |
| Abbvie Inc. (ABBV) | Equity | 0% | 12,410 | 0.03% | $217.49 | $246.04 | $2,699,051 | $3,053,356 | +$354,305 | +13.13% |
| Alphabet Inc. (GOOGL) | Equity | -22.16% | 11,610 | 0.04% | $287.56 | $354.30 | $3,338,572 | $4,113,423 | +$774,851 | +23.21% |
| Alphabet Inc. (GOOG) | Equity | -14.78% | 3,350,337 | 11.31% | $286.86 | $353.47 | $961,077,672 | $1,184,243,619 | +$223,165,947 | +23.22% |
| Brown-Forman Corp. (BF-B) | Equity | -6.85% | 659,694 | 0.21% | $26.44 | $28.52 | $17,442,308 | $18,814,473 | +$1,372,165 | +7.87% |
| Hormel Foods Corp. (HRL) | Equity | -4.21% | 19,000 | 0.01% | $22.65 | $25.02 | $430,350 | $475,380 | +$45,030 | +10.46% |
| JP Morgan Chase & Co. (JPM) | Equity | -71.86% | 148,798 | 0.52% | $294.16 | $357.52 | $43,770,420 | $53,198,261 | +$9,427,841 | +21.54% |
| Johnson & Johnson (JNJ) | Equity | +33.61% | 1,304 | 0.00% | $244.44 | $259.24 | $318,750 | $338,049 | +$19,299 | +6.05% |
| Altria Group Inc. (MO) | Equity | -0.19% | 164,461 | 0.13% | $65.99 | $68.35 | $10,852,779 | $11,240,909 | +$388,130 | +3.58% |
| Amazon.com Inc. (AMZN) | Equity | 0% | 1,040 | 0.00% | $208.27 | $274.48 | $216,601 | $285,459 | +$68,858 | +31.79% |
| American Express Company (AXP) | Equity | -46.67% | 6,485 | 0.02% | $302.48 | $340.91 | $1,961,583 | $2,210,801 | +$249,218 | +12.70% |
| Apple Inc. (AAPL) | Equity | +1.65% | 4,751 | 0.01% | $253.79 | $313.33 | $1,205,756 | $1,488,631 | +$282,875 | +23.46% |
| Berkshire Hathaway Inc. (BRK-A) | Equity | -1.88% | 1,460 | 12.34% | $718,140.00 | $780,086.00 | $1,048,484,400 | $1,138,925,560 | +$90,441,160 | +8.63% |
| Berkshire Hathaway Inc. (BRK-B) | Equity | -1.33% | 1,110,429 | 6.26% | $479.20 | $521.80 | $532,117,577 | $579,421,852 | +$47,304,275 | +8.89% |
| Caterpillar Inc. (CAT) | Equity | -18.18% | 450 | 0.00% | $708.46 | $842.19 | $318,807 | $378,986 | +$60,179 | +18.88% |
| Crane Company (CR) | Equity | -14.29% | 46,626 | 0.09% | $171.00 | $219.88 | $7,973,046 | $10,252,125 | +$2,279,079 | +28.58% |
| Herc Holdings Inc. (HRI) | Equity | 0% | 6,450 | 0.01% | $99.55 | $167.90 | $642,098 | $1,082,955 | +$440,857 | +68.66% |
| Martin Marietta Materials Inc. (MLM) | Equity | -1.54% | 715,411 | 4.96% | $588.68 | $548.57 | $421,148,042 | $392,453,012 | -$28,695,030 | -6.81% |
| Mccormick & Company Inc. (MKC) | Equity | -5.13% | 38,581 | 0.02% | $50.44 | $52.96 | $1,946,026 | $2,043,250 | +$97,224 | +5.00% |
| Microsoft Corp. (MSFT) | Equity | -4.35% | 3,544 | 0.02% | $370.17 | $499.99 | $1,311,882 | $1,771,965 | +$460,083 | +35.07% |
| Nestlé S.A. (NSRGY) | Equity | -2.41% | 5,481,714 | 6.39% | $99.10 | $100.51 | $543,237,880 | $550,967,074 | +$7,729,194 | +1.42% |
| Exxon Mobil Corp. (XOM) | Equity | +0.48% | 193,950 | 0.39% | $169.66 | $153.04 | $32,905,526 | $29,682,108 | -$3,223,418 | -9.80% |
| FB Bancorp. Inc. (FBLA) | Equity | 0% | 50,000 | 0.01% | $13.74 | $15.62 | $687,000 | $781,000 | +$94,000 | +13.68% |
| Fulton Financial Corp. (FULT) | Equity | -9.52% | 48,950 | 0.01% | $20.34 | $24.24 | $995,643 | $1,186,548 | +$190,905 | +19.17% |
| Generac Holdings Inc. (GNRC) | Equity | 0% | 2,250 | 0.01% | $195.33 | $212.22 | $439,493 | $477,495 | +$38,002 | +8.65% |
| Mastercard Inc. (MA) | Equity | -1.95% | 1,555,141 | 9.15% | $499.66 | $562.95 | $777,041,820 | $875,466,626 | +$98,424,806 | +12.67% |
| The Procter & Gamble Company (PG) | Equity | -22.78% | 9,229 | 0.02% | $144.44 | $145.79 | $1,333,037 | $1,345,496 | +$12,459 | +0.93% |
| Sunbelt Rentals Holdings INC (SUNB) | Equity | +100% | 6,049,133 | 4.63% | $65.09 | $81.08 | $393,738,067 | $490,463,704 | +$96,725,637 | +24.57% |
| Mcdonald'S Corp. (MCD) | Equity | +4.64% | 947 | 0.00% | $310.79 | $274.48 | $294,318 | $259,933 | -$34,385 | -11.68% |
| Merck & Co. Inc. (MRK) | Equity | +100% | 2,141 | 0.00% | $120.29 | $128.58 | $257,536 | $275,290 | +$17,754 | +6.89% |
| Oracle Corp. (ORCL) | Equity | +3.60% | 3,600 | 0.01% | $147.11 | $147.02 | $529,596 | $529,272 | -$324 | -0.06% |
| Philip Morris International Inc. (PM) | Equity | -1.97% | 4,605,069 | 8.96% | $165.34 | $189.57 | $761,402,140 | $872,982,930 | +$111,580,790 | +14.65% |
| Walmart Inc. (WMT) | Equity | -4.18% | 9,740 | 0.01% | $124.28 | $111.85 | $1,210,487 | $1,089,419 | -$121,068 | -10.00% |
| Warby Parker Inc. (WRBY) | Equity | +23.08% | 80,000 | 0.02% | $21.07 | $26.46 | $1,685,600 | $2,116,800 | +$431,200 | +25.58% |
| Wells Fargo & Company (WFC) | Equity | -6.45% | 7,450 | 0.01% | $79.61 | $87.25 | $593,115 | $650,013 | +$56,898 | +9.59% |
| Yeti Holdings Inc. (YETI) | Equity | 0% | 24,000 | 0.01% | $36.59 | $52.20 | $878,160 | $1,252,800 | +$374,640 | +42.66% |
| Anheuser Busch Inbev NV (BUD) | Equity | -30.70% | 184,010 | 0.15% | $68.81 | $83.76 | $12,661,615 | $15,412,678 | +$2,751,063 | +21.73% |
| The Swiss Helvetia Fund Inc. (SWZ) | Equity | -33.23% | 97,667 | 0.01% | $5.93 | $5.97 | $579,163 | $583,072 | +$3,909 | +0.67% |
| John Bean Technologies Corp. (JBT) | Equity | 0% | 7,250 | 0.01% | $127.87 | N/A | $927,058 | N/A | N/A | N/A |
| Cofide Spa | Equity | 0% | 251,250 | 0.00% | $0.78 | N/A | $195,985 | N/A | N/A | N/A |
| Davide Campari-Milano NV | Equity | -16.56% | 202,013 | 0.02% | $7.06 | N/A | $1,426,815 | N/A | N/A | N/A |
| De'longhi | Equity | +10.64% | 39,000 | 0.02% | $34.54 | N/A | $1,347,175 | N/A | N/A | N/A |
| H&M | Equity | 0% | 64,000 | 0.01% | $18.39 | N/A | $1,176,706 | N/A | N/A | N/A |
| LT Group Inc. | Equity | 0% | 1,775,000 | 0.01% | $0.24 | N/A | $428,337 | N/A | N/A | N/A |
| Demant AS | Equity | 0% | 41,000 | 0.01% | $29.90 | N/A | $1,225,815 | N/A | N/A | N/A |
| Kalmar Oyj B | Equity | +12.50% | 27,000 | 0.02% | $49.96 | N/A | $1,348,904 | N/A | N/A | N/A |
| Konecranes | Equity | +184.55% | 52,500 | 0.02% | $32.19 | N/A | $1,690,105 | N/A | N/A | N/A |
| Chocoladefabriken Lindt & Sprüngli Ag (COCXF) | Equity | 0% | 15 | 0.03% | $142,119.33 | $109,000.00 | $2,131,790 | $1,635,000 | -$496,790 | -23.30% |
| Lotus Bakeries | Equity | 0% | 115 | 0.02% | $11,222.43 | N/A | $1,290,579 | N/A | N/A | N/A |
| Rational Ag | Equity | +125.64% | 2,200 | 0.02% | $716.67 | N/A | $1,576,670 | N/A | N/A | N/A |
| SSP Group | Equity | +6.06% | 700,000 | 0.02% | $2.31 | N/A | $1,614,484 | N/A | N/A | N/A |
| Sunbelt Rentals Holdings ORD | Equity | +100% | 18,178 | 0.01% | $62.64 | N/A | $1,138,638 | N/A | N/A | N/A |
| ALK Abello AS | Equity | +42.86% | 50,000 | 0.02% | $31.18 | N/A | $1,558,886 | N/A | N/A | N/A |
| Zalando SE | Equity | 0% | 28,000 | 0.01% | $23.68 | N/A | $662,976 | N/A | N/A | N/A |
| Electrolux Professional | Equity | +15.00% | 230,000 | 0.01% | $5.29 | N/A | $1,216,848 | N/A | N/A | N/A |
| Eurofins Scientific | Equity | +100% | 3,096,404 | 2.63% | $72.20 | N/A | $223,550,621 | N/A | N/A | N/A |
| Fielmann | Equity | +28.40% | 33,000 | 0.02% | $50.18 | N/A | $1,655,884 | N/A | N/A | N/A |
| Fluidra | Equity | +18.64% | 70,000 | 0.02% | $22.78 | N/A | $1,594,530 | N/A | N/A | N/A |
| PT Hanjaya Mandala Sampoerna Tbk (PHJMF) | Equity | 0% | 5,000,000 | 0.00% | $0.04 | $0.04 | $213,305 | $200,000 | -$13,305 | -6.24% |
| Chevron Corp. (CVX) | Equity | -7.49% | 2,470 | 0.01% | $206.90 | $186.56 | $511,043 | $460,803 | -$50,240 | -9.83% |
| The Walt Disney Company (DIS) | Equity | +0.28% | 2,517 | 0.00% | $96.38 | $104.91 | $242,592 | $264,058 | +$21,466 | +8.85% |
| Netflix Inc. (NFLX) | Equity | +12.11% | 5,610,666 | 6.35% | $96.15 | $74.14 | $539,465,536 | $415,974,777 | -$123,490,759 | -22.89% |
| Compagnie Financière Richemont Sa (CFRHF) | Equity | -1.57% | 3,447,287 | 7.00% | $172.42 | $241.33 | $594,389,414 | $831,933,772 | +$237,544,358 | +39.96% |
| Nestlé S.A. (NSRGF) | Equity | 0% | 11,130 | 0.01% | $97.59 | $101.06 | $1,086,198 | $1,124,798 | +$38,600 | +3.55% |
| Pernod Ricard Sa (PDRDF) | Equity | -2.91% | 2,479,656 | 2.16% | $73.99 | $82.00 | $183,480,370 | $203,331,792 | +$19,851,422 | +10.82% |
| Heineken Holding N.V. (HKHHF) | Equity | -1.07% | 9,101,528 | 7.57% | $70.69 | $85.68 | $643,363,987 | $779,818,919 | +$136,454,932 | +21.21% |
| Puig Brands (PUGBY) | Equity | 0% | 68,000 | 0.02% | $19.46 | $9.75 | $1,323,325 | $663,000 | -$660,325 | -49.90% |
| L'Oréal S.A. (LRLCF) | Equity | 0% | 3,705 | 0.02% | $402.52 | $439.00 | $1,491,341 | $1,626,495 | +$135,154 | +9.06% |
| Heineken N.V. (HINKF) | Equity | 0% | 15,131 | 0.01% | $76.39 | $91.15 | $1,155,870 | $1,379,191 | +$223,321 | +19.32% |
| Carlsberg A/S (CABJF) | Equity | -57.25% | 9,872 | 0.01% | $123.85 | $144.65 | $1,222,622 | $1,427,985 | +$205,363 | +16.80% |