Thomas Russo, Gardner Russo & Quinn

Portfolio USD 8,925,889,000 across 84 positions as of 2026 Q2; history from 2008 Q4. Source: quarterly 13F filings via dataroma.com.

Positions, 2026 Q2

• GOOG Alphabet Inc. CL C: 12% of portfolio, USD 1,076,977,000, reduce -9.02%
• BRK.A Berkshire Hathaway CL A: 12% of portfolio, USD 1,072,353,000, reduce -1.92%
• PM Philip Morris Intl.: 9.2% of portfolio, USD 819,675,000, reduce -1.61%
• MA Mastercard Inc.: 8.8% of portfolio, USD 781,902,000, reduce -2.11%
• CFRHF Compagnie Financiere Richemont SA: 8.7% of portfolio, USD 773,662,000, reduce -2.96%
• HKHHF Heineken Holding NV: 7.6% of portfolio, USD 679,640,000, reduce -2.15%
• NSRGY Nestle: 6.1% of portfolio, USD 545,787,000, reduce -3.04%
• BRK.B Berkshire Hathaway CL B: 6.1% of portfolio, USD 540,103,000, reduce -2.8%
• SUNB Sunbelt Rentals Holdings Inc: 5.0% of portfolio, USD 442,542,000, reduce -2.49%
• NFLX Netflix Inc.: 4.6% of portfolio, USD 407,700,000, add +1.77%
• MLM Martin Marietta: 4.6% of portfolio, USD 406,785,000, reduce -1.4%
• UBER Uber Technologies Inc.: 4.1% of portfolio, USD 366,863,000, reduce -1.73%
• ERFSF Eurofins Scientific SE: 3.6% of portfolio, USD 320,909,000, add +32.22%
• DASH DoorDash Inc.: 2.5% of portfolio, USD 218,872,000, add +18.47%
• PDRDF Pernod Ricard: 1.9% of portfolio, USD 171,675,000, reduce -5.17%
• CMCSA Comcast Corp.: 0.6% of portfolio, USD 53,854,000, reduce -2.64%
• BF.A Brown-Forman Corp. CL A: 0.5% of portfolio, USD 43,716,000, reduce -3.04%
• V Visa Inc.: 0.3% of portfolio, USD 29,937,000, reduce -6.99%
• XOM ExxonMobil Holdings Corp.: 0.3% of portfolio, USD 24,774,000, reduce -6.57%
• BF.B Brown-Forman Corp.: 0.2% of portfolio, USD 17,037,000, reduce -3.09%
• BUDFF Anheuser Busch Inbev SA NV: 0.2% of portfolio, USD 14,230,000, reduce -6.91%
• MO Altria Group Inc.: 0.1% of portfolio, USD 10,692,000, reduce -9.64%
• CR Crane Co: 0.1% of portfolio, USD 9,801,000, reduce -5.77%
• MKL Markel Group Inc.: 0.1% of portfolio, USD 8,330,000, reduce -13.91%
• JPM JPMorgan Chase & Co.: 0.1% of portfolio, USD 8,091,000, reduce -83.39%
• UNP Union Pacific: 0.1% of portfolio, USD 7,029,000, reduce -6.5%
• DOV Dover Corp.: 0.1% of portfolio, USD 4,228,000, reduce -1.44%
• GOOGL Alphabet Inc.: <0.1% of portfolio, USD 3,972,000, reduce -4.27%
• COST Costco Co.: <0.1% of portfolio, USD 3,180,000, reduce -26.49%
• ABBV AbbVie Inc.: <0.1% of portfolio, USD 3,123,000, hold
• WRBY Warby Parker Inc.: <0.1% of portfolio, USD 2,427,000, hold
• VMC Vulcan Materials: <0.1% of portfolio, USD 2,143,000, hold
• LEVI Levi Strauss & Co.: <0.1% of portfolio, USD 2,079,000, add +1.21%
• AKBLF Alk Abello A s: <0.1% of portfolio, USD 1,980,000, add +6%
• MKC McCormick & Co.: <0.1% of portfolio, USD 1,915,000, reduce -1.56%
• DLG.MI De'Longhi SPA: <0.1% of portfolio, USD 1,813,000, add +9.49%
• COCXF Lindt & Spruengli AG: <0.1% of portfolio, USD 1,785,000, hold
• SSPPF Ssp Group Plc: <0.1% of portfolio, USD 1,744,000, hold
• AXP American Express: <0.1% of portfolio, USD 1,734,000, reduce -20.97%
• WILLF Demant A s: <0.1% of portfolio, USD 1,682,000, hold
• LRLCF L'Oreal SA: <0.1% of portfolio, USD 1,625,000, hold
• FLMNF Fielmann Group Ag: <0.1% of portfolio, USD 1,615,000, hold
• KNCRF Konecranes Oyj: <0.1% of portfolio, USD 1,613,000, hold
• RTLLF Rational Ag: <0.1% of portfolio, USD 1,611,000, hold
• FLUIF Fluidra SA: <0.1% of portfolio, USD 1,585,000, hold
• LTSSF Lotus Bakeries: <0.1% of portfolio, USD 1,528,000, hold
• MSFT Microsoft Corp.: <0.1% of portfolio, USD 1,337,000, add +1.13%
• AAPL Apple Inc.: <0.1% of portfolio, USD 1,331,000, reduce -3.16%
• CABJF Carlsberg A/S: <0.1% of portfolio, USD 1,328,000, add +2.66%
• HINKF Heineken NV: <0.1% of portfolio, USD 1,273,000, hold
• PUIGF Puig Brands SA B: <0.1% of portfolio, USD 1,254,000, hold
• PEP PepsiCo Inc.: <0.1% of portfolio, USD 1,234,000, reduce -0.98%
• DVDCF Davide Campari-Milano S.p.A.: <0.1% of portfolio, USD 1,215,000, reduce -3.45%
• KMROF Kalmar Oyj B Share: <0.1% of portfolio, USD 1,208,000, add +1.85%
• YETI YETI Holdings Inc.: <0.1% of portfolio, USD 1,189,000, hold
• NSRGF Nestle Sa Reg: <0.1% of portfolio, USD 1,146,000, hold
• HMRZF Hennes & Mauritz Ab B Shs: <0.1% of portfolio, USD 1,102,000, hold
• FULT Fulton Financial Corp.: <0.1% of portfolio, USD 1,070,000, reduce -9.6%
• JBTM JBT Marel Corp.: <0.1% of portfolio, USD 1,051,000, hold
• ABT Abbott Labs: <0.1% of portfolio, USD 1,044,000, hold
• ECTXF Electrolux Professional Ab B: <0.1% of portfolio, USD 1,006,000, hold
• KO Coca Cola Co.: <0.1% of portfolio, USD 1,004,000, reduce -5.18%
• PG Procter & Gamble: <0.1% of portfolio, USD 961,000, reduce -28.98%
• WMT Walmart Inc.: <0.1% of portfolio, USD 959,000, reduce -13.09%
• HRI HERC Holdings Inc.: <0.1% of portfolio, USD 925,000, hold
• LAMR Lamar Advertising Co.: <0.1% of portfolio, USD 837,000, hold
• ZLDSF Zalando Se: <0.1% of portfolio, USD 812,000, hold
• FBLA Fb Bancorp Inc: <0.1% of portfolio, USD 753,000, hold
• WFC Wells Fargo: <0.1% of portfolio, USD 616,000, add +0.01%
• SWZ Swiss Helvetia Fund Inc.: <0.1% of portfolio, USD 580,000, hold
• HRL Hormel Foods Corp.: <0.1% of portfolio, USD 459,000, reduce -2.63%
• OUT Outfront Media Inc.: 0.0% of portfolio, USD 445,000, hold
• LTGIF Lt Group Inc: 0.0% of portfolio, USD 432,000, hold
• CVX Chevron Corp.: 0.0% of portfolio, USD 409,000, hold
• ORCL Oracle Corp.: 0.0% of portfolio, USD 398,000, reduce -24.58%
• UNM Unum Group: 0.0% of portfolio, USD 312,000, reduce -8.29%
• CAT Caterpillar Inc.: 0.0% of portfolio, USD 282,000, reduce -41.11%
• JNJ Johnson & Johnson: 0.0% of portfolio, USD 282,000, reduce -14.72%
• MCD McDonald's Corp.: 0.0% of portfolio, USD 256,000, hold
• DIS Walt Disney Co.: 0.0% of portfolio, USD 240,000, reduce -0.99%
• AMZN Amazon.com Inc.: 0.0% of portfolio, USD 223,000, reduce -10%
• MRK Merck & Co.: 0.0% of portfolio, USD 211,000, reduce -23.31%
• CIR.MI Cir SPA: 0.0% of portfolio, USD 200,000, hold
• PHJMF Hanjaya Mandala Sampoerna: 0.0% of portfolio, USD 187,000, hold

Portfolio value, all published quarters

• 2008 Q4: USD 1,842,177,407
• 2009 Q1: USD 1,490,081,562
• 2009 Q2: USD 1,721,794,945
• 2009 Q3: USD 1,931,897,745
• 2009 Q4: USD 1,965,963,599
• 2010 Q1: USD 2,264,636,961
• 2010 Q2: USD 2,124,928,639
• 2010 Q3: USD 2,380,032,957
• 2010 Q4: USD 2,626,170,530
• 2011 Q1: USD 4,986,257,600
• 2011 Q2: USD 5,292,125,946
• 2011 Q3: USD 4,747,821,898
• 2011 Q4: USD 5,421,108,799
• 2012 Q1: USD 6,181,302,280
• 2012 Q2: USD 6,411,691,485
• 2012 Q3: USD 6,856,176,702
• 2012 Q4: USD 7,270,603,770
• 2013 Q1: USD 8,542,922,793
• 2013 Q2: USD 8,564,819,315
• 2013 Q3: USD 9,418,881,732
• 2013 Q4: USD 10,109,358,349
• 2014 Q1: USD 10,339,827,788
• 2014 Q2: USD 10,810,327,301
• 2014 Q3: USD 10,613,372,574
• 2014 Q4: USD 10,968,924,024
• 2015 Q1: USD 11,118,987,713
• 2015 Q2: USD 11,386,460,408
• 2015 Q3: USD 11,074,498,656
• 2015 Q4: USD 11,702,128,687
• 2016 Q1: USD 11,839,699,167
• 2016 Q2: USD 11,947,745,985
• 2016 Q3: USD 12,024,356,994
• 2016 Q4: USD 11,817,226,717
• 2017 Q1: USD 12,919,646,340
• 2017 Q2: USD 13,549,248,067
• 2017 Q3: USD 14,136,247,244
• 2017 Q4: USD 14,529,417,494
• 2018 Q1: USD 14,328,954,410
• 2018 Q2: USD 13,707,153,639
• 2018 Q3: USD 13,831,073,815
• 2018 Q4: USD 12,041,407,639
• 2019 Q1: USD 12,879,565,528
• 2019 Q2: USD 13,155,901,784
• 2019 Q3: USD 12,850,568,514
• 2019 Q4: USD 13,041,637,884
• 2020 Q1: USD 9,889,354,709
• 2020 Q2: USD 9,843,458,869
• 2020 Q3: USD 10,290,215,086
• 2020 Q4: USD 11,025,225,357
• 2021 Q1: USD 10,962,144,014
• 2021 Q2: USD 11,843,515,267
• 2021 Q3: USD 10,845,338,249
• 2021 Q4: USD 11,215,131,390
• 2022 Q1: USD 10,394,809,344
• 2022 Q2: USD 8,945,016,820
• 2022 Q3: USD 8,266,710,790
• 2022 Q4: USD 9,064,210,354
• 2023 Q1: USD 9,640,696,853
• 2023 Q2: USD 10,125,946,292
• 2023 Q3: USD 9,172,118,890
• 2023 Q4: USD 9,818,099,730
• 2024 Q1: USD 9,753,008,589
• 2024 Q2: USD 9,470,173,802
• 2024 Q3: USD 9,744,211,857
• 2024 Q4: USD 8,850,262,966
• 2025 Q1: USD 8,924,991,103
• 2025 Q2: USD 9,412,518,583
• 2025 Q3: USD 9,328,814,623
• 2025 Q4: USD 9,269,008,380
• 2026 Q1: USD 8,495,418,607
• 2026 Q2: USD 8,925,889,000