Great investors · Tom Russo · Q4 2025
What Tom Russo bought and sold in Q4 2025
Gardner Russo & Quinn 13F portfolio as of Dec 31, 2025: 87 positions worth $9.3 bn. Largest: BRK/A, GOOG, MA, CFRHF. Filed with the SEC on Feb 12, 2026.
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 2025
No purchase of 0.5 points of the portfolio or more this quarter.
Sells in Q4 2025
- ReducedAlphabetGOOG−2.4 pp
1 company with a material move, out of 45 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 2025 13F lists 87 lines of US-listed securities worth $9.3 bn; the largest is GOOG at 13.3% of the portfolio. It was accepted by the SEC on Feb 12, 2026 at 11:46 AM ET.
Against the previous quarter, it opened 5 positions (DGEAF, AKBLF, AMZN and IBM and 1 more), closed 3 (DROOF, TFC and FMX), added to 12 (Tkms Ag& Co Kgaa Ordf, UBER, MLM and CABJF and 8 more) and trimmed 26 (GOOG, BRK/A, CFRHF and MA and 22 more). 44 lines show the same number of shares.
| # | Company | Shares | Value | Weight | Change in shares |
|---|---|---|---|---|---|
| 1 | Alphabet GOOG | 3.9 M | $1.2 bn | 13.3% | −15% |
| 2 | Berkshire Hathaway BRK/A | 1,488 | $1.1 bn | 12.1% | −3.4% |
| 3 | Mastercard MA | 1.6 M | $905M | 9.77% | −2.1% |
| 4 | CIE Financi-reg CFRHF | 3.5 M | $761M | 8.21% | −2.8% |
| 5 | Philip Morris International PM | 4.7 M | $753M | 8.13% | no change |
| 6 | Heineken Holding NV - A HKHHF | 9.2 M | $674M | 7.28% | no change |
| 7 | Berkshire Hathaway BRK/B | 1.1 M | $566M | 6.11% | −3.1% |
| 8 | Nestle NSRGY | 5.6 M | $555M | 5.99% | −2.8% |
| 9 | Netflix NFLX | 5.0 M | $469M | 5.07% | −2.7% |
| 10 | Martin Marietta Materials MLM | 726,612 | $452M | 4.88% | +5.7% |
| 11 | UBER Technologies UBER | 5.1 M | $420M | 4.54% | +9.2% |
| 12 | Tkms Ag& Co Kgaa Ordf | 6.1 M | $418M | 4.51% | +9.6% |
| 13 | Pernod Ricard PDRDF | 2.6 M | $219M | 2.37% | −5.4% |
| 14 | DoorDash DASH | 930,467 | $211M | 2.27% | no change |
| 15 | JPMorgan Chase JPM | 528,817 | $170M | 1.84% | −3% |
| 16 | Comcast CMCSA | 2.3 M | $68.8M | 0.74% | −5.9% |
| 17 | Brown Forman BF/A | 1.7 M | $43.9M | 0.47% | −2.9% |
| 18 | Visa V | 108,818 | $38.2M | 0.41% | −11% |
| 19 | Exxon Mobil XOM | 193,033 | $23.2M | 0.25% | no change |
| 20 | Brown Forman BF/B | 708,179 | $18.5M | 0.20% | −7.5% |
| 21 | Anheuser-Busch InBev BUDFF | 265,525 | $17.1M | 0.18% | −5.9% |
| 22 | Markel Group MKL | 6,279 | $13.5M | 0.15% | −18% |
| 23 | Crane CR | 54,401 | $10.0M | 0.11% | −3.7% |
| 24 | Altria Group MO | 164,772 | $9.5M | 0.10% | no change |
| 25 | Union Pacific UNP | 24,984 | $5.8M | 0.06% | no change |
| 26 | Alphabet GOOGL | 14,916 | $4.7M | 0.05% | −3.7% |
| 27 | American Express AXP | 12,160 | $4.5M | 0.05% | −11% |
| 28 | Costco Wholesale COST | 4,624 | $4.0M | 0.04% | no change |
| 29 | Dover DOV | 19,526 | $3.8M | 0.04% | no change |
| 30 | Carlsberg B A/S CABJF | 23,091 | $3.0M | 0.03% | +92% |
| 31 | AbbVie ABBV | 12,410 | $2.8M | 0.03% | no change |
| 32 | Diageo DGEAF | 129,805 | $2.8M | 0.03% | new |
| 33 | McCORMICK MKC | 40,666 | $2.8M | 0.03% | −2.2% |
| 34 | Vulcan Materials VMC | 7,912 | $2.3M | 0.02% | −20% |
| 35 | Lindt & Spruengli AG - Reg COCXF | 15 | $2.2M | 0.02% | no change |
| 36 | Konecranes KNCRF | 18,450 | $2.0M | 0.02% | no change |
| 37 | SSP Group SSPPF | 660,000 | $1.8M | 0.02% | no change |
| 38 | Microsoft MSFT | 3,705 | $1.8M | 0.02% | +5.7% |
| 39 | Procter & Gamble PG | 11,951 | $1.7M | 0.02% | +9.4% |
| 40 | Fluidra FLUIF | 59,000 | $1.6M | 0.02% | +11% |
| 41 | L Oreal Ordf LRLCF | 3,705 | $1.6M | 0.02% | −8.5% |
| 42 | Davide Campari-Milano DVDCF | 242,103 | $1.6M | 0.02% | +15% |
| 43 | De'Longhi DELHF | 35,250 | $1.5M | 0.02% | no change |
| 44 | Abbott Laboratories ABT | 11,510 | $1.4M | 0.02% | no change |
| 45 | Warby Parker WRBY | 65,000 | $1.4M | 0.02% | +6.6% |
| 46 | Electrolux Professional ECTXF | 200,000 | $1.4M | 0.02% | no change |
| 47 | Pepsico PEP | 9,794 | $1.4M | 0.02% | −11% |
| 48 | Hyatt Hotels H | 8,675 | $1.4M | 0.02% | no change |
| 49 | Demant A/s WILLF | 41,000 | $1.4M | 0.02% | no change |
| 50 | Fielmann FLMNF | 25,700 | $1.3M | 0.01% | +2.8% |
| 51 | H&m HMRZF | 64,000 | $1.3M | 0.01% | no change |
| 52 | Apple AAPL | 4,674 | $1.3M | 0.01% | no change |
| 53 | ALK Abello A/S AKBLF | 35,000 | $1.3M | 0.01% | new |
| 54 | Heineken HINKF | 15,131 | $1.2M | 0.01% | no change |
| 55 | Puig Brands PUIGF | 68,000 | $1.2M | 0.01% | no change |
| 56 | Kalmar Oyj B KMROF | 24,000 | $1.1M | 0.01% | +20% |
| 57 | Walmart WMT | 10,165 | $1.1M | 0.01% | no change |
| 58 | Nestle NSRGF | 11,130 | $1.1M | 0.01% | no change |
| 59 | JBT Marel JBTM | 7,250 | $1.1M | 0.01% | no change |
| 60 | Lotus Bakeries LTSSF | 115 | $1.1M | 0.01% | no change |
| 61 | YETI Holdings YETI | 24,000 | $1.1M | 0.01% | no change |
| 62 | Fulton Financial FULT | 54,100 | $1.0M | 0.01% | −16% |
| 63 | LEVI Strauss LEVI | 47,725 | $990K | 0.01% | no change |
| 64 | Herc Holdings HRI | 6,450 | $957K | 0.01% | no change |
| 65 | Coca-Cola KO | 13,640 | $954K | 0.01% | no change |
| 66 | Total Return Securities Fund SWZ | 146,284 | $910K | 0.01% | −66% |
| 67 | Zalando ZLDSF | 28,000 | $833K | 0.01% | no change |
| 68 | PNC Financial Services Group PNC | 3,750 | $783K | 0.01% | no change |
| 69 | Rational RTLLF | 975 | $757K | 0.01% | no change |
| 70 | Lamar Advertising LAMR | 5,974 | $756K | 0.01% | no change |
| 71 | Wells Fargo WFC | 7,964 | $742K | 0.01% | −22% |
| 72 | Oracle ORCL | 3,475 | $677K | 0.01% | no change |
| 73 | FB Bancorp FBLA | 50,000 | $643K | 0.01% | no change |
| 74 | Hormel Foods HRL | 19,835 | $470K | 0.01% | no change |
| 75 | LT Group LTGIF | 1.8 M | $446K | 0.00% | no change |
| 76 | Chevron CVX | 2,670 | $407K | 0.00% | no change |
| 77 | OUTFRONT Media OUT | 15,677 | $378K | 0.00% | no change |
| 78 | Caterpillar CAT | 550 | $315K | 0.00% | −21% |
| 79 | Generac Holdings GNRC | 2,250 | $307K | 0.00% | no change |
| 80 | Unum Group UNM | 3,800 | $295K | 0.00% | no change |
| 81 | Walt Disney DIS | 2,510 | $286K | 0.00% | no change |
| 82 | McDONALD’S MCD | 905 | $277K | 0.00% | +28% |
| 83 | Amazon.com AMZN | 1,040 | $240K | 0.00% | new |
| 84 | International Business Machines IBM | 750 | $222K | 0.00% | new |
| 85 | Hanjaya Mandala Sampoerna PHJMF | 5.0 M | $217K | 0.00% | no change |
| 86 | Cofide SPA CFDZF | 251,250 | $207K | 0.00% | no change |
| 87 | Johnson & Johnson JNJ | 976 | $202K | 0.00% | new |
Positions it closed (3)
- Deliveroo DROOFwas 0.01% · 390,000 shares
- Truist Financial TFCwas 0.00% · 9,355 shares
- Fomento Economico Mex Sponsore FMXwas 0.00% · 3,218 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.