Thomas Russo
Portfolio value$8.9B
Positions85
QuarterQ2 2026ended 2026-06-30
Filed08/132026
Gardner Russo & Quinn LLC's Q2 2026 13F, filed Aug 13, 2026, reports 85 positions worth $8.9B. The ten largest are 80.0% of the book, led by Alphabet (Class C) at 12.1%, Berkshire Hathaway Inc Cl A at 12.0% and Philip Morris at 9.2%. Against Q1 2026: 1 bought, 10 added to, 42 reduced, 2 sold; the largest moves were reduced Alphabet (Class C) (−9%) and added Eurofins Scientific (+32%).
Where the money is
GOOGBRK/APMMACFRHFHKHHFNSRGYBRK/BSUNBNFLX75 other
Holdings
| Ticker | Issuer | Weight | Value | Q-end → now | Price vs model | Change |
|---|---|---|---|---|---|---|
| GOOG | Alphabet INC Cl C | 12.1% | $1.1B3.0M sh | 353.33 → −5% | 49% overvalued | reduced −9% |
| BRK/A | Berkshire Hathaway INC Cl A | 12.0% | $1.1B1,432 sh | 748,850.00 | — | reduced −2% |
| PM | Philip Morris International In | 9.2% | $819.7M4.5M sh | 180.91 → +13% | 19% overvalued | reduced −2% |
| MA | Mastercard INC Cl A | 8.8% | $781.9M1.5M sh | 513.60 → +20% | 15% overvalued | reduced −2% |
| CFRHF | Compagnie Financiere Richemont | 8.7% | $773.7M3.3M sh | 231.27 | — | reduced −3% |
| HKHHF | Heineken Holding NV | 7.6% | $679.6M8.9M sh | 76.32 | — | reduced −2% |
| NSRGY | Nestle SA Sponsored ADR | 6.1% | $545.8M5.3M sh | 102.69 | — | reduced −3% |
| BRK/B | Berkshire Hathaway INC Cl B | 6.1% | $540.1M1.1M sh | 500.39 → +6% | 21% overvalued | reduced −3% |
| SUNB | Sunbelt Rentals Holdings INC | 4.9% | $441.2M5.9M sh | 74.81 | — | reduced −3% |
| NFLX | Netflix INC | 4.6% | $407.7M5.7M sh | 71.40 → −1% | 39% overvalued | added +2% |
| MLM | Martin Marietta Materials | 4.6% | $406.8M705,367 sh | 576.70 → −13% | 54% overvalued | reduced −1% |
| UBER | Uber Technologies INC | 4.1% | $366.9M5.1M sh | 72.16 → −3% | 12% overvalued | reduced −2% |
| ERFSF | Eurofins Scientific | 3.6% | $320.9M4.1M sh | 78.38 | — | added +32% |
| DASH | Doordash INC Cl A | 2.5% | $218.9M1.2M sh | 184.53 → +3% | 305% overvalued | added +18% |
| PDRDF | Pernod Ricard | 1.9% | $171.7M2.4M sh | 73.01 | — | reduced −5% |
| CMCSA | Comcast Corp New Cl A | 0.6% | $53.9M2.2M sh | 24.55 → −11% | 83% undervalued | reduced −3% |
| BF/A | Brown-forman Corp Cl A | 0.5% | $43.7M1.6M sh | 27.36 | — | reduced −3% |
| V | Visa INC Cl A | 0.3% | $29.9M87,256 sh | 343.09 → +17% | 40% overvalued | reduced −7% |
| XOM | Exxon Mobil Corp | 0.3% | $24.8M181,200 sh | 136.72 → +31% | 13% overvalued | bought |
| BF/B | Brown-forman Corp Cl B | 0.2% | $17.0M639,282 sh | 26.65 → +8% | 9% undervalued | reduced −3% |
| BUDFF | Anheuser-busch Inbev SA | 0.2% | $14.2M171,294 sh | 83.07 | — | reduced −7% |
| MO | Altria Group INC | 0.1% | $10.7M148,603 sh | 71.95 → +4% | 6% overvalued | reduced −10% |
| CR | Crane Company | 0.1% | $9.8M43,937 sh | 223.07 | — | reduced −6% |
| MKL | Markel Corp | 0.1% | $8.3M4,265 sh | 1,953.01 | — | reduced −14% |
| JPM | J.p. Morgan Chase | 0.1% | $8.1M24,719 sh | 327.33 → +4% | 11% overvalued | reduced −83% |
| UNP | Union Pac Corp | 0.1% | $7.0M25,841 sh | 272.00 → +6% | 23% overvalued | reduced −7% |
| DOV | Dover Corp | 0.0% | $4.2M18,851 sh | 224.28 → −13% | 47% overvalued | reduced −1% |
| GOOGL | Alphabet INC Cl A | 0.0% | $4.0M11,114 sh | 357.37 → −5% | 51% overvalued | reduced −4% |
| COST | Costco Whsl Corp | 0.0% | $3.2M3,399 sh | 935.48 → +6% | 145% overvalued | reduced −26% |
| ABBV | Abbvie INC | 0.0% | $3.1M12,410 sh | 251.64 → +13% | at model | held |
| WRBY | Warby Parker INC Cl A | 0.0% | $2.4M80,000 sh | 30.34 | — | held |
| VMC | Vulcan Materials | 0.0% | $2.1M7,263 sh | 295.01 → −13% | 129% overvalued | held |
| LEVI | Levi Strauss & CO Cl A | 0.0% | $2.1M83,725 sh | 24.83 | — | added +1% |
| AKBLF | Alk Abello A/s | 0.0% | $2.0M53,000 sh | 37.35 | — | added +6% |
| MKC | Mccormick INC | 0.0% | $1.9M37,981 sh | 50.42 → −8% | 11% undervalued | reduced −2% |
| DELHF | De'longhi | 0.0% | $1.8M42,700 sh | 42.46 | — | added +9% |
| COCXF | Lindt & Spruengli AG - Reg | 0.0% | $1.8M15 sh | 119,010.73 | — | held |
| SSPPF | Ssp Group | 0.0% | $1.7M700,000 sh | 2.49 | — | held |
| AXP | American Express | 0.0% | $1.7M5,125 sh | 338.25 → −7% | 23% overvalued | reduced −21% |
| WILLF | Demant A/s | 0.0% | $1.7M41,000 sh | 41.02 | — | held |
| LRLCF | Loreal SA | 0.0% | $1.6M3,705 sh | 438.63 | — | held |
| FLMNF | Fielmann | 0.0% | $1.6M33,000 sh | 48.93 | — | held |
| KNCRF | Konecranes | 0.0% | $1.6M52,500 sh | 30.73 | — | held |
| RTLLF | Rational AG | 0.0% | $1.6M2,200 sh | 732.28 | — | held |
| FLUIF | Fluidra | 0.0% | $1.6M70,000 sh | 22.64 | — | held |
| LTSSF | Lotus Bakeries | 0.0% | $1.5M115 sh | 13,285.15 | — | held |
| MSFT | Microsoft Corp | 0.0% | $1.3M3,584 sh | 373.02 → +42% | 10% overvalued | added +1% |
| AAPL | Apple INC | 0.0% | $1.3M4,601 sh | 289.36 → +19% | 114% overvalued | reduced −3% |
| CABJF | Carlsberg B A/s | 0.0% | $1.3M10,135 sh | 131.05 | — | added +3% |
| — | Sunbelt Rentals Holdings OrdCUSIP CREST6610 | 0.0% | $1.3M18,178 sh | 72.95 | — | held |
| HINKF | Heineken NV | 0.0% | $1.3M15,131 sh | 84.15 | — | held |
| PUIGF | Puig Brands | 0.0% | $1.3M68,000 sh | 18.44 | — | held |
| PEP | Pepsico INC | 0.0% | $1.2M9,115 sh | 135.41 → −3% | 3% undervalued | reduced −1% |
| DVDCF | Davide Campari-milano NV | 0.0% | $1.2M195,048 sh | 6.23 | — | reduced −3% |
| KMROF | Kalmar Oyj B | 0.0% | $1.2M27,500 sh | 43.93 | — | added +2% |
| YETI | Yeti Holdings INC | 0.0% | $1.2M24,000 sh | 49.56 | — | held |
| NSRGF | Nestle Sa-reg | 0.0% | $1.1M11,130 sh | 102.99 | — | held |
| HMRZF | H&m | 0.0% | $1.1M64,000 sh | 17.22 | — | held |
| FULT | Fulton Finl Corp | 0.0% | $1.1M44,250 sh | 24.19 | — | reduced −10% |
| JBTM | Jbt Marel Corp | 0.0% | $1.1M7,250 sh | 145.00 | — | held |
| ABT | Abbott Labs | 0.0% | $1.0M11,510 sh | 90.74 → +16% | 3% undervalued | held |
| ECTXF | Electrolux Professional | 0.0% | $1.0M230,000 sh | 4.38 | — | held |
| KO | Coca-cola | 0.0% | $1.0M12,350 sh | 81.27 → +16% | 76% overvalued | reduced −5% |
| PG | Procter & Gamble | 0.0% | $961,0796,554 sh | 146.64 → +9% | 32% overvalued | reduced −29% |
| WMT | Wal Mart Stores INC | 0.0% | $958,7468,465 sh | 113.26 → +5% | 208% overvalued | reduced −13% |
| HRI | Herc Holdings INC | 0.0% | $924,5436,450 sh | 143.34 | — | held |
| LAMR | Lamar Advertising Co-a | 0.0% | $837,3015,368 sh | 155.98 | — | held |
| ZLDSF | Zalando Se | 0.0% | $812,15528,000 sh | 29.01 | — | held |
| FBLA | Fb Bancorp INC | 0.0% | $753,00050,000 sh | 15.06 | — | held |
| WFC | Wells Fargo | 0.0% | $615,7627,451 sh | 82.64 → +1% | 6% undervalued | added +0% |
| SWZ | Total Return Securities Fund | 0.0% | $580,14097,667 sh | 5.94 | — | held |
| HRL | Hormel Foods Corp | 0.0% | $459,17018,500 sh | 24.82 → −18% | 3% overvalued | reduced −3% |
| OUT | Outfront Media INC | 0.0% | $445,14313,588 sh | 32.76 | — | held |
| LTGIF | Lt Group INC | 0.0% | $431,5301.8M sh | 0.24 | — | held |
| CVX | Chevron Corp | 0.0% | $409,4272,470 sh | 165.76 → +36% | 9% overvalued | held |
| ORCL | Oracle Corp | 0.0% | $397,8832,715 sh | 146.55 → −13% | 30% undervalued | reduced −25% |
| UNM | Unum Group | 0.0% | $311,5593,485 sh | 89.40 | — | reduced −8% |
| JNJ | Johnson & Johnson | 0.0% | $282,4151,112 sh | 253.97 → +1% | 36% undervalued | reduced −15% |
| CAT | Caterpillar INC | 0.0% | $282,199265 sh | 1,064.90 → −31% | 180% overvalued | reduced −41% |
| MCD | Mcdonalds Corp | 0.0% | $255,984947 sh | 270.31 → −10% | 2% undervalued | held |
| DIS | Disney Walt Productions | 0.0% | $239,8582,492 sh | 96.25 → +15% | 9% undervalued | reduced −1% |
| AMZN | Amazon.com INC | 0.0% | $223,086936 sh | 238.34 → +5% | 182% overvalued | reduced −10% |
| MRK | Merck INC | 0.0% | $211,0061,642 sh | 128.51 → +14% | 24% undervalued | reduced −23% |
| — | Cofide SpaCUSIP T19404101 | 0.0% | $199,642251,250 sh | 0.79 | — | held |
| PHJMF | Hanjaya Mandala Sampoerna | 0.0% | $187,3605.0M sh | 0.04 | — | held |
Source: the manager's Form 13F-HR on SEC EDGAR, kept as immutable quarterly snapshots; changes compare two consecutive filings. A 13F is filed up to 45 days after quarter end and covers US-listed long positions only. Tickers come from a self-maintained CUSIP map; a position without one shows its CUSIP. Method notes in where the numbers come from.