Great investors · Tom Russo · Q4 2024
What Tom Russo bought and sold in Q4 2024
Gardner Russo & Quinn 13F portfolio as of Dec 31, 2024: 68 positions worth $8.8 bn. Largest: BRK/A, GOOG, MA, CFRHF. Filed with the SEC on Feb 12, 2025.
The 13F is filed by Gardner Russo & Quinn, not by Tom Russo personally: these are the whole firm's positions. A “position” is a distinct security in the filing (by CUSIP); share classes of the same company are shown added together.
Buys in Q4 2024
No purchase of 0.5 points of the portfolio or more this quarter.
Sells in Q4 2024
- ReducedBerkshire HathawayBRK/A−1.2 pp
- ReducedNetflixNFLX−0.9 pp
- ReducedAlphabetGOOG−0.7 pp
- ReducedMastercardMA−0.7 pp
- ReducedNestleNSRGY−0.5 pp
5 companies with material moves, out of 59 positions with a change. Only moves of 0.5 points of the portfolio or more are listed, measured as “traded weight” (what was bought or sold, excluding price effects). Smaller changes exist and are not listed: a position may have gone up or down without appearing above.
The full 13F, line by line
Gardner Russo & Quinn's Q4 2024 13F lists 68 lines of US-listed securities worth $8.8 bn; the largest is BRK/A at 14.4% of the portfolio. It was accepted by the SEC on Feb 12, 2025 at 11:17 AM ET.
Against the previous quarter, it opened 2 positions (FBLA and CFDZF), closed 11 (PRNDY, ASHTY, CTVA and RBGPF and 7 more), added to 2 (UBER and SWZ) and trimmed 45 (BRK/A, NFLX, GOOG and MA and 41 more). 19 lines show the same number of shares.
| # | Company | Shares | Value | Weight | Change in shares |
|---|---|---|---|---|---|
| 1 | Berkshire Hathaway BRK/A | 1,869 | $1.3 bn | 14.4% | −8.6% |
| 2 | Alphabet GOOG | 5.6 M | $1.1 bn | 12.1% | −6% |
| 3 | Mastercard MA | 1.9 M | $992M | 11.2% | −6.3% |
| 4 | CIE Financi-reg CFRHF | 4.2 M | $642M | 7.26% | −6.4% |
| 5 | Philip Morris International PM | 5.2 M | $625M | 7.06% | −3.6% |
| 6 | Berkshire Hathaway BRK/B | 1.3 M | $583M | 6.59% | −4.2% |
| 7 | Netflix NFLX | 632,773 | $564M | 6.38% | −14% |
| 8 | Nestle NSRGY | 6.3 M | $517M | 5.84% | −9% |
| 9 | Heineken Holding NV - A HKHHF | 7.9 M | $471M | 5.32% | −3.7% |
| 10 | Martin Marietta Materials MLM | 707,010 | $365M | 4.13% | −5.7% |
| 11 | Pernod Ricard PDRDF | 3.0 M | $343M | 3.88% | −6.5% |
| 12 | JPMorgan Chase JPM | 1.3 M | $302M | 3.42% | −12% |
| 13 | Tkms Ag& Co Kgaa Ordf | 4.7 M | $293M | 3.32% | −4.6% |
| 14 | UBER Technologies UBER | 4.2 M | $250M | 2.83% | +9.3% |
| 15 | DoorDash DASH | 670,131 | $112M | 1.27% | −5% |
| 16 | Comcast CMCSA | 2.8 M | $104M | 1.18% | −6.3% |
| 17 | Brown Forman BF/A | 2.0 M | $75.9M | 0.86% | −5.3% |
| 18 | Visa V | 204,696 | $64.7M | 0.73% | −23% |
| 19 | Brown Forman BF/B | 840,396 | $31.9M | 0.36% | −4.3% |
| 20 | Exxon Mobil XOM | 188,953 | $20.3M | 0.23% | no change |
| 21 | Anheuser-Busch InBev BUDFF | 378,075 | $18.9M | 0.21% | −5.2% |
| 22 | Markel Group MKL | 8,621 | $14.9M | 0.17% | −4.4% |
| 23 | Altria Group MO | 269,826 | $14.1M | 0.16% | −6.7% |
| 24 | Wells Fargo WFC | 193,556 | $13.6M | 0.15% | −52% |
| 25 | Crane CR | 60,730 | $9.2M | 0.10% | −2.6% |
| 26 | Union Pacific UNP | 24,536 | $5.6M | 0.06% | no change |
| 27 | Vulcan Materials VMC | 21,176 | $5.4M | 0.06% | −9.8% |
| 28 | Costco Wholesale COST | 5,397 | $4.9M | 0.06% | no change |
| 29 | American Express AXP | 14,816 | $4.4M | 0.05% | −3.4% |
| 30 | Dover DOV | 22,451 | $4.2M | 0.05% | −2.8% |
| 31 | Procter & Gamble PG | 23,754 | $4.0M | 0.05% | −24% |
| 32 | Alphabet GOOGL | 20,466 | $3.9M | 0.04% | no change |
| 33 | Davide Campari-Milano DVDCF | 579,531 | $3.6M | 0.04% | −18% |
| 34 | McCORMICK MKC | 42,770 | $3.3M | 0.04% | no change |
| 35 | AbbVie ABBV | 12,410 | $2.2M | 0.02% | no change |
| 36 | Total Return Securities Fund SWZ | 288,801 | $2.2M | 0.02% | +1.9% |
| 37 | Microsoft MSFT | 4,955 | $2.1M | 0.02% | no change |
| 38 | L Oreal Ordf LRLCF | 5,711 | $2.0M | 0.02% | −1% |
| 39 | Lindt & Spruengli AG - Reg COCXF | 16 | $1.8M | 0.02% | −5.9% |
| 40 | Pepsico PEP | 11,528 | $1.8M | 0.02% | −5.8% |
| 41 | Carlsberg B A/S CABJF | 18,138 | $1.7M | 0.02% | −23% |
| 42 | Hormel Foods HRL | 50,345 | $1.6M | 0.02% | −5.2% |
| 43 | Apple AAPL | 5,804 | $1.5M | 0.02% | −7.5% |
| 44 | Fulton Financial FULT | 74,700 | $1.4M | 0.02% | −8% |
| 45 | Abbott Laboratories ABT | 11,510 | $1.3M | 0.01% | no change |
| 46 | Heineken HINKF | 15,131 | $1.1M | 0.01% | −41% |
| 47 | PNC Financial Services Group PNC | 4,950 | $955K | 0.01% | −7.5% |
| 48 | Walmart WMT | 10,305 | $931K | 0.01% | no change |
| 49 | Coca-Cola KO | 14,105 | $878K | 0.01% | −2.9% |
| 50 | Nestle NSRGF | 10,460 | $864K | 0.01% | −74% |
| 51 | FB Bancorp FBLA | 70,000 | $834K | 0.01% | new |
| 52 | OUTFRONT Media OUT | 44,814 | $795K | 0.01% | no change |
| 53 | Lamar Advertising LAMR | 5,974 | $727K | 0.01% | no change |
| 54 | Chevron CVX | 4,465 | $647K | 0.01% | no change |
| 55 | Oracle ORCL | 3,475 | $579K | 0.01% | no change |
| 56 | Truist Financial TFC | 9,617 | $417K | 0.00% | no change |
| 57 | Walt Disney DIS | 3,571 | $398K | 0.00% | −8.1% |
| 58 | LT Group LTGIF | 1.8 M | $322K | 0.00% | no change |
| 59 | Fomento Economico Mexicano S FMX | 3,466 | $296K | 0.00% | −4.8% |
| 60 | Merck MRK | 2,926 | $291K | 0.00% | −5.2% |
| 61 | Unum Group UNM | 3,800 | $278K | 0.00% | no change |
| 62 | Mondelez International MDLZ | 4,400 | $263K | 0.00% | no change |
| 63 | Diageo DGEAF | 8,252 | $262K | 0.00% | −2.4% |
| 64 | Heineken Holding N V F HKHHY | 7,266 | $218K | 0.00% | −66% |
| 65 | McDONALD’S MCD | 705 | $204K | 0.00% | no change |
| 66 | Hanjaya Mandala Sampoerna PHJMF | 5.0 M | $197K | 0.00% | no change |
| 67 | Compagnie Financiere Richemont CFRUY | 12,140 | $185K | 0.00% | −82% |
| 68 | Cofide SPA CFDZF | 251,250 | $156K | 0.00% | new |
Positions it closed (11)
- Pernod-Ricard SA Unsponsored A PRNDYwas 0.01% · 23,057 shares
- Ashtead Group ASHTYwas 0.00% · 1,253 shares
- Corteva CTVAwas 0.00% · 6,070 shares
- Reckitt Benckiser Group RBGPFwas 0.00% · 4,230 shares
- Heineken HEINYwas 0.00% · 5,255 shares
- Danaher DHRwas 0.00% · 819 shares
- Carlisle Companies CSLwas 0.00% · 500 shares
- Trane Technologies TTwas 0.00% · 540 shares
- BP BPwas 0.00% · 6,602 shares
- Cir SPA was 0.00% · 251,250 shares
- Davide Campari-Milano DVCMYwas 0.00% · 13,650 shares
One row per line of the filing (by CUSIP): share classes of the same company are listed separately here. “Change in shares” compares the count with the previous quarter, split-adjusted; the value is the one reported in the 13F at quarter end, not today's price.
Original documents: Gardner Russo & Quinn's 13F filings on EDGAR (SEC) ↗
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Source: 13F filings with the SEC. A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions. Not investment advice.