# Thomas Russo — Gardner Russo & Quinn Portfolio USD 8,925,889,000 · 84 positions · 2026 Q2 · history from 2008 Q4. Source: quarterly 13F filings via dataroma.com. Page: https://gigainvestors.com/GR ## Positions (2026 Q2) | Ticker | Company | % of portfolio | Value | This quarter | Holders | |---|---|---:|---:|---|---:| | GOOG | Alphabet Inc. CL C | 12% | USD 1,076,977,000 | -9.02% | | | BRK.A | Berkshire Hathaway CL A | 12% | USD 1,072,353,000 | -1.92% | | | PM | Philip Morris Intl. | 9.2% | USD 819,675,000 | -1.61% | | | MA | Mastercard Inc. | 8.8% | USD 781,902,000 | -2.11% | | | CFRHF | Compagnie Financiere Richemont SA | 8.7% | USD 773,662,000 | -2.96% | | | HKHHF | Heineken Holding NV | 7.6% | USD 679,640,000 | -2.15% | | | NSRGY | Nestle | 6.1% | USD 545,787,000 | -3.04% | | | BRK.B | Berkshire Hathaway CL B | 6.1% | USD 540,103,000 | -2.8% | | | SUNB | Sunbelt Rentals Holdings Inc | 5.0% | USD 442,542,000 | -2.49% | | | NFLX | Netflix Inc. | 4.6% | USD 407,700,000 | +1.77% | | | MLM | Martin Marietta | 4.6% | USD 406,785,000 | -1.4% | | | UBER | Uber Technologies Inc. | 4.1% | USD 366,863,000 | -1.73% | | | ERFSF | Eurofins Scientific SE | 3.6% | USD 320,909,000 | +32.22% | | | DASH | DoorDash Inc. | 2.5% | USD 218,872,000 | +18.47% | | | PDRDF | Pernod Ricard | 1.9% | USD 171,675,000 | -5.17% | | | CMCSA | Comcast Corp. | 0.6% | USD 53,854,000 | -2.64% | | | BF.A | Brown-Forman Corp. CL A | 0.5% | USD 43,716,000 | -3.04% | | | V | Visa Inc. | 0.3% | USD 29,937,000 | -6.99% | | | XOM | ExxonMobil Holdings Corp. | 0.3% | USD 24,774,000 | -6.57% | | | BF.B | Brown-Forman Corp. | 0.2% | USD 17,037,000 | -3.09% | | | BUDFF | Anheuser Busch Inbev SA NV | 0.2% | USD 14,230,000 | -6.91% | | | MO | Altria Group Inc. | 0.1% | USD 10,692,000 | -9.64% | | | CR | Crane Co | 0.1% | USD 9,801,000 | -5.77% | | | MKL | Markel Group Inc. | 0.1% | USD 8,330,000 | -13.91% | | | JPM | JPMorgan Chase & Co. | 0.1% | USD 8,091,000 | -83.39% | | | UNP | Union Pacific | 0.1% | USD 7,029,000 | -6.5% | | | DOV | Dover Corp. | 0.1% | USD 4,228,000 | -1.44% | | | GOOGL | Alphabet Inc. | <0.1% | USD 3,972,000 | -4.27% | | | COST | Costco Co. | <0.1% | USD 3,180,000 | -26.49% | | | ABBV | AbbVie Inc. | <0.1% | USD 3,123,000 | hold | | | WRBY | Warby Parker Inc. | <0.1% | USD 2,427,000 | hold | | | VMC | Vulcan Materials | <0.1% | USD 2,143,000 | hold | | | LEVI | Levi Strauss & Co. | <0.1% | USD 2,079,000 | +1.21% | | | AKBLF | Alk Abello A s | <0.1% | USD 1,980,000 | +6% | | | MKC | McCormick & Co. | <0.1% | USD 1,915,000 | -1.56% | | | DLG.MI | De'Longhi SPA | <0.1% | USD 1,813,000 | +9.49% | | | COCXF | Lindt & Spruengli AG | <0.1% | USD 1,785,000 | hold | | | SSPPF | Ssp Group Plc | <0.1% | USD 1,744,000 | hold | | | AXP | American Express | <0.1% | USD 1,734,000 | -20.97% | | | WILLF | Demant A s | <0.1% | USD 1,682,000 | hold | | | LRLCF | L'Oreal SA | <0.1% | USD 1,625,000 | hold | | | FLMNF | Fielmann Group Ag | <0.1% | USD 1,615,000 | hold | | | KNCRF | Konecranes Oyj | <0.1% | USD 1,613,000 | hold | | | RTLLF | Rational Ag | <0.1% | USD 1,611,000 | hold | | | FLUIF | Fluidra SA | <0.1% | USD 1,585,000 | hold | | | LTSSF | Lotus Bakeries | <0.1% | USD 1,528,000 | hold | | | MSFT | Microsoft Corp. | <0.1% | USD 1,337,000 | +1.13% | | | AAPL | Apple Inc. | <0.1% | USD 1,331,000 | -3.16% | | | CABJF | Carlsberg A/S | <0.1% | USD 1,328,000 | +2.66% | | | HINKF | Heineken NV | <0.1% | USD 1,273,000 | hold | | | PUIGF | Puig Brands SA B | <0.1% | USD 1,254,000 | hold | | | PEP | PepsiCo Inc. | <0.1% | USD 1,234,000 | -0.98% | | | DVDCF | Davide Campari-Milano S.p.A. | <0.1% | USD 1,215,000 | -3.45% | | | KMROF | Kalmar Oyj B Share | <0.1% | USD 1,208,000 | +1.85% | | | YETI | YETI Holdings Inc. | <0.1% | USD 1,189,000 | hold | | | NSRGF | Nestle Sa Reg | <0.1% | USD 1,146,000 | hold | | | HMRZF | Hennes & Mauritz Ab B Shs | <0.1% | USD 1,102,000 | hold | | | FULT | Fulton Financial Corp. | <0.1% | USD 1,070,000 | -9.6% | | | JBTM | JBT Marel Corp. | <0.1% | USD 1,051,000 | hold | | | ABT | Abbott Labs | <0.1% | USD 1,044,000 | hold | | | ECTXF | Electrolux Professional Ab B | <0.1% | USD 1,006,000 | hold | | | KO | Coca Cola Co. | <0.1% | USD 1,004,000 | -5.18% | | | PG | Procter & Gamble | <0.1% | USD 961,000 | -28.98% | | | WMT | Walmart Inc. | <0.1% | USD 959,000 | -13.09% | | | HRI | HERC Holdings Inc. | <0.1% | USD 925,000 | hold | | | LAMR | Lamar Advertising Co. | <0.1% | USD 837,000 | hold | | | ZLDSF | Zalando Se | <0.1% | USD 812,000 | hold | | | FBLA | Fb Bancorp Inc | <0.1% | USD 753,000 | hold | | | WFC | Wells Fargo | <0.1% | USD 616,000 | +0.01% | | | SWZ | Swiss Helvetia Fund Inc. | <0.1% | USD 580,000 | hold | | | HRL | Hormel Foods Corp. | <0.1% | USD 459,000 | -2.63% | | | OUT | Outfront Media Inc. | 0.0% | USD 445,000 | hold | | | LTGIF | Lt Group Inc | 0.0% | USD 432,000 | hold | | | CVX | Chevron Corp. | 0.0% | USD 409,000 | hold | | | ORCL | Oracle Corp. | 0.0% | USD 398,000 | -24.58% | | | UNM | Unum Group | 0.0% | USD 312,000 | -8.29% | | | CAT | Caterpillar Inc. | 0.0% | USD 282,000 | -41.11% | | | JNJ | Johnson & Johnson | 0.0% | USD 282,000 | -14.72% | | | MCD | McDonald's Corp. | 0.0% | USD 256,000 | hold | | | DIS | Walt Disney Co. | 0.0% | USD 240,000 | -0.99% | | | AMZN | Amazon.com Inc. | 0.0% | USD 223,000 | -10% | | | MRK | Merck & Co. | 0.0% | USD 211,000 | -23.31% | | | CIR.MI | Cir SPA | 0.0% | USD 200,000 | hold | | | PHJMF | Hanjaya Mandala Sampoerna | 0.0% | USD 187,000 | hold | | ## Moves this quarter (54) - GOOG Alphabet Inc. CL C: -9.02% (USD 1,076,977,000) - BRK.A Berkshire Hathaway CL A: -1.92% (USD 1,072,353,000) - PM Philip Morris Intl.: -1.61% (USD 819,675,000) - MA Mastercard Inc.: -2.11% (USD 781,902,000) - CFRHF Compagnie Financiere Richemont SA: -2.96% (USD 773,662,000) - HKHHF Heineken Holding NV: -2.15% (USD 679,640,000) - NSRGY Nestle: -3.04% (USD 545,787,000) - BRK.B Berkshire Hathaway CL B: -2.8% (USD 540,103,000) - SUNB Sunbelt Rentals Holdings Inc: -2.49% (USD 442,542,000) - NFLX Netflix Inc.: +1.77% (USD 407,700,000) - MLM Martin Marietta: -1.4% (USD 406,785,000) - UBER Uber Technologies Inc.: -1.73% (USD 366,863,000) - ERFSF Eurofins Scientific SE: +32.22% (USD 320,909,000) - DASH DoorDash Inc.: +18.47% (USD 218,872,000) - PDRDF Pernod Ricard: -5.17% (USD 171,675,000) - CMCSA Comcast Corp.: -2.64% (USD 53,854,000) - BF.A Brown-Forman Corp. CL A: -3.04% (USD 43,716,000) - V Visa Inc.: -6.99% (USD 29,937,000) - XOM ExxonMobil Holdings Corp.: -6.57% (USD 24,774,000) - BF.B Brown-Forman Corp.: -3.09% (USD 17,037,000) - BUDFF Anheuser Busch Inbev SA NV: -6.91% (USD 14,230,000) - MO Altria Group Inc.: -9.64% (USD 10,692,000) - CR Crane Co: -5.77% (USD 9,801,000) - MKL Markel Group Inc.: -13.91% (USD 8,330,000) - JPM JPMorgan Chase & Co.: -83.39% (USD 8,091,000) - UNP Union Pacific: -6.5% (USD 7,029,000) - DOV Dover Corp.: -1.44% (USD 4,228,000) - GOOGL Alphabet Inc.: -4.27% (USD 3,972,000) - COST Costco Co.: -26.49% (USD 3,180,000) - LEVI Levi Strauss & Co.: +1.21% (USD 2,079,000) - AKBLF Alk Abello A s: +6% (USD 1,980,000) - MKC McCormick & Co.: -1.56% (USD 1,915,000) - DLG.MI De'Longhi SPA: +9.49% (USD 1,813,000) - AXP American Express: -20.97% (USD 1,734,000) - MSFT Microsoft Corp.: +1.13% (USD 1,337,000) - AAPL Apple Inc.: -3.16% (USD 1,331,000) - CABJF Carlsberg A/S: +2.66% (USD 1,328,000) - PEP PepsiCo Inc.: -0.98% (USD 1,234,000) - DVDCF Davide Campari-Milano S.p.A.: -3.45% (USD 1,215,000) - KMROF Kalmar Oyj B Share: +1.85% (USD 1,208,000) - FULT Fulton Financial Corp.: -9.6% (USD 1,070,000) - KO Coca Cola Co.: -5.18% (USD 1,004,000) - PG Procter & Gamble: -28.98% (USD 961,000) - WMT Walmart Inc.: -13.09% (USD 959,000) - WFC Wells Fargo: +0.01% (USD 616,000) - HRL Hormel Foods Corp.: -2.63% (USD 459,000) - GNRC Generac Holdings Inc.: sold (USD 438,998) - ORCL Oracle Corp.: -24.58% (USD 398,000) - UNM Unum Group: -8.29% (USD 312,000) - CAT Caterpillar Inc.: -41.11% (USD 282,000) - JNJ Johnson & Johnson: -14.72% (USD 282,000) - DIS Walt Disney Co.: -0.99% (USD 240,000) - AMZN Amazon.com Inc.: -10% (USD 223,000) - MRK Merck & Co.: -23.31% (USD 211,000) ## Portfolio value by quarter - 2008 Q4: USD 1,842,177,407 (41 positions) - 2009 Q1: USD 1,490,081,562 (42 positions) - 2009 Q2: USD 1,721,794,945 (41 positions) - 2009 Q3: USD 1,931,897,745 (41 positions) - 2009 Q4: USD 1,965,963,599 (41 positions) - 2010 Q1: USD 2,264,636,961 (44 positions) - 2010 Q2: USD 2,124,928,639 (44 positions) - 2010 Q3: USD 2,380,032,957 (43 positions) - 2010 Q4: USD 2,626,170,530 (44 positions) - 2011 Q1: USD 4,986,257,600 (59 positions) - 2011 Q2: USD 5,292,125,946 (57 positions) - 2011 Q3: USD 4,747,821,898 (66 positions) - 2011 Q4: USD 5,421,108,799 (68 positions) - 2012 Q1: USD 6,181,302,280 (67 positions) - 2012 Q2: USD 6,411,691,485 (67 positions) - 2012 Q3: USD 6,856,176,702 (66 positions) - 2012 Q4: USD 7,270,603,770 (64 positions) - 2013 Q1: USD 8,542,922,793 (67 positions) - 2013 Q2: USD 8,564,819,315 (58 positions) - 2013 Q3: USD 9,418,881,732 (59 positions) - 2013 Q4: USD 10,109,358,349 (59 positions) - 2014 Q1: USD 10,339,827,788 (58 positions) - 2014 Q2: USD 10,810,327,301 (61 positions) - 2014 Q3: USD 10,613,372,574 (62 positions) - 2014 Q4: USD 10,968,924,024 (62 positions) - 2015 Q1: USD 11,118,987,713 (61 positions) - 2015 Q2: USD 11,386,460,408 (61 positions) - 2015 Q3: USD 11,074,498,656 (58 positions) - 2015 Q4: USD 11,702,128,687 (57 positions) - 2016 Q1: USD 11,839,699,167 (58 positions) - 2016 Q2: USD 11,947,745,985 (60 positions) - 2016 Q3: USD 12,024,356,994 (58 positions) - 2016 Q4: USD 11,817,226,717 (57 positions) - 2017 Q1: USD 12,919,646,340 (58 positions) - 2017 Q2: USD 13,549,248,067 (59 positions) - 2017 Q3: USD 14,136,247,244 (60 positions) - 2017 Q4: USD 14,529,417,494 (74 positions) - 2018 Q1: USD 14,328,954,410 (63 positions) - 2018 Q2: USD 13,707,153,639 (62 positions) - 2018 Q3: USD 13,831,073,815 (62 positions) - 2018 Q4: USD 12,041,407,639 (60 positions) - 2019 Q1: USD 12,879,565,528 (64 positions) - 2019 Q2: USD 13,155,901,784 (66 positions) - 2019 Q3: USD 12,850,568,514 (65 positions) - 2019 Q4: USD 13,041,637,884 (67 positions) - 2020 Q1: USD 9,889,354,709 (64 positions) - 2020 Q2: USD 9,843,458,869 (70 positions) - 2020 Q3: USD 10,290,215,086 (71 positions) - 2020 Q4: USD 11,025,225,357 (73 positions) - 2021 Q1: USD 10,962,144,014 (72 positions) - 2021 Q2: USD 11,843,515,267 (72 positions) - 2021 Q3: USD 10,845,338,249 (73 positions) - 2021 Q4: USD 11,215,131,390 (77 positions) - 2022 Q1: USD 10,394,809,344 (79 positions) - 2022 Q2: USD 8,945,016,820 (81 positions) - 2022 Q3: USD 8,266,710,790 (83 positions) - 2022 Q4: USD 9,064,210,354 (83 positions) - 2023 Q1: USD 9,640,696,853 (84 positions) - 2023 Q2: USD 10,125,946,292 (83 positions) - 2023 Q3: USD 9,172,118,890 (82 positions) - 2023 Q4: USD 9,818,099,730 (82 positions) - 2024 Q1: USD 9,753,008,589 (81 positions) - 2024 Q2: USD 9,470,173,802 (77 positions) - 2024 Q3: USD 9,744,211,857 (77 positions) - 2024 Q4: USD 8,850,262,966 (68 positions) - 2025 Q1: USD 8,924,991,103 (86 positions) - 2025 Q2: USD 9,412,518,583 (85 positions) - 2025 Q3: USD 9,328,814,623 (85 positions) - 2025 Q4: USD 9,269,008,380 (87 positions) - 2026 Q1: USD 8,495,418,607 (85 positions) - 2026 Q2: USD 8,925,889,000 (84 positions)