Gardner Russo & Quinn
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 12, 2025), Tom Russo's Gardner Russo & Quinn reported 68 stock positions worth $8.8 billion. Its top holding was Berkshire Hathaway Class A (BRK.A) at 14.4% of the portfolio, followed by Alphabet Class C (GOOG, 12.1%) and Mastercard Class A (MA, 11.2%). Compared with Q3 2024, it opened 3 new positions, sold out of 12, added to 7 and reduced 50. The biggest buy was a new position in FB Bancorp (FBLA) and the biggest sale Nestle SA-Spons ADR (NSRGY, shares −9%).
- Most Recent 13F
- Q2 2026
- Notable People
- Tom Russo
- Location
- LANCASTER, PA
- CIK
- 0000860643
- Portfolio Value
- $8.8B (Q4 2024)
- SEC Filing
- 0000860643-25-000001 ↗ filed Feb 12, 2025
Holdings Value
Holdings 68 stocks · $8.8B
| BRK.A Berkshire Hathaway Inc. Class A | 14.39% | 1,869 | $1.3B | Reduce -8.6% |
| GOOG Alphabet Inc. Class C | 12.13% | 5,635,935 | $1.1B | Reduce -6.0% |
| MA Mastercard Inc. Class A | 11.22% | 1,884,664 | $992.4M | Reduce -6.3% |
| CFRHF Cie Financiere Richemo-A Reg | 7.26% | 4,221,542 | $642.4M | Reduce -6.4% |
| PM Philip Morris International | 7.06% | 5,190,200 | $624.6M | Reduce -3.6% |
| BRK.B Berkshire Hathaway Inc. Class B | 6.59% | 1,286,921 | $583.3M | Reduce -4.2% |
| NFLX Netflix Inc. | 6.38% | 632,773 | $564.0M | Reduce -13.5% |
| NSRGY Nestle SA-Spons ADR | 5.84% | 6,327,409 | $516.9M | Reduce -9.0% |
| HKHHF Heineken Holding NV | 5.32% | 7,860,162 | $470.9M | Reduce -3.7% |
| MLM Martin Marietta Materials | 4.13% | 707,010 | $365.2M | Reduce -5.7% |
| PDRDF Pernod Ricard SA | 3.88% | 3,038,334 | $342.9M | Reduce -6.5% |
| JPM JPMorgan Chase & Co. | 3.42% | 1,261,709 | $302.4M | Reduce -12.4% |
| ASHTF Ashtead Group PLC | 3.32% | 4,717,666 | $293.4M | Reduce -4.6% |
| UBER Uber Technologies Inc. | 2.83% | 4,150,867 | $250.4M | Add +9.3% |
| DASH DoorDash Inc. Class A | 1.27% | 670,131 | $112.4M | Reduce -5.0% |
| CMCSA Comcast Corp. Class A | 1.18% | 2,784,048 | $104.5M | Reduce -6.3% |
| BF.A Brown-Forman Corp. Class A | 0.86% | 2,014,920 | $75.9M | Reduce -5.3% |
| V Visa Inc. Class A | 0.73% | 204,696 | $64.7M | Reduce -22.9% |
| BF.B Brown-Forman Corp. Class B | 0.36% | 840,396 | $31.9M | Reduce -4.3% |
| XOM Exxon Mobil Corp. | 0.23% | 188,953 | $20.3M | Add +0.4% |
| BUDFF Anheuser-Busch Inbev SA | 0.21% | 378,075 | $18.9M | Reduce -5.2% |
| MKL Markel Group Inc. | 0.17% | 8,621 | $14.9M | Reduce -4.4% |
| MO Altria Group Inc. | 0.16% | 269,826 | $14.1M | Reduce -6.7% |
| WFC Wells Fargo & Co. | 0.15% | 193,556 | $13.6M | Reduce -51.9% |
| CR Crane Co. | 0.10% | 60,730 | $9.2M | Reduce -2.6% |
| UNP Union Pacific Corp. | 0.06% | 24,536 | $5.6M | Add +0.5% |
| VMC Vulcan Materials Co. | 0.06% | 21,176 | $5.4M | Reduce -9.8% |
| COST Costco Wholesale Corp. | 0.06% | 5,397 | $4.9M | Reduce -0.5% |
| AXP American Express Co. | 0.05% | 14,816 | $4.4M | Reduce -3.4% |
| DOV Dover Corp. | 0.05% | 22,451 | $4.2M | Reduce -2.8% |
| PG The Procter & Gamble Co. | 0.04% | 23,754 | $4.0M | Reduce -24.1% |
| GOOGL Alphabet Inc. Class A | 0.04% | 20,466 | $3.9M | Add +0.1% |
| DVDCF Davide Campari-Milano NV | 0.04% | 579,531 | $3.6M | Reduce -17.6% |
| MKC McCormick & Co.-Non VTG SHRS | 0.04% | 42,770 | $3.3M | Reduce -0.1% |
| ABBV Abbvie Inc. | 0.02% | 12,410 | $2.2M | Reduce -0.8% |
| SWZ Total Return Securities Fund | 0.02% | 288,801 | $2.2M | Add +1.9% |
| MSFT Microsoft Corp. | 0.02% | 4,955 | $2.1M | Reduce -1.0% |
| LRLCF L'oreal | 0.02% | 5,711 | $2.0M | Reduce -1.0% |
| COCXF Chocoladefabriken Lindt-Reg filed as Lindt & Spruengli AG - Reg | 0.02% | 16 | $1.8M | Reduce -5.9% |
| PEP Pepsico Inc. | 0.02% | 11,528 | $1.8M | Reduce -5.8% |
| CABJF Carlsberg As-B | 0.02% | 18,138 | $1.7M | Reduce -22.6% |
| HRL Hormel Foods Corp. | 0.02% | 50,345 | $1.6M | Reduce -5.2% |
| AAPL Apple Inc. | 0.02% | 5,804 | $1.5M | Reduce -7.5% |
| FULT Fulton Financial Corp. | 0.02% | 74,700 | $1.4M | Reduce -8.0% |
| ABT Abbott Laboratories | 0.01% | 11,510 | $1.3M | No change |
| HINKF Heineken NV | 0.01% | 15,131 | $1.1M | Reduce -40.5% |
| PNC PNC Financial Services Group | 0.01% | 4,950 | $955K | Reduce -7.5% |
| WMT Walmart Inc. | 0.01% | 10,305 | $931K | Reduce -0.6% |
| KO The Coca-Cola Co. | 0.01% | 14,105 | $878K | Reduce -2.9% |
| NSRGF Nestle SA-Reg | 0.01% | 10,460 | $864K | Reduce -73.9% |
| FBLA FB Bancorp Inc. | 0.01% | 70,000 | $834K | New |
| OUT Outfront Media Inc. | 0.01% | 44,814 | $795K | New |
| LAMR Lamar Advertising Co. Class A | 0.01% | 5,974 | $727K | No change |
| CVX Chevron Corp. | 0.01% | 4,465 | $647K | Add +0.4% |
| ORCL Oracle Corp. | 0.01% | 3,475 | $579K | No change |
| TFC Truist Financial Corp. | 0.00% | 9,617 | $417K | Add +0.7% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.00% | 3,571 | $398K | Reduce -8.1% |
| LTGIF LT Group Inc. | 0.00% | 1,775,000 | $322K | No change |
| FMX Fomento Economico Mex-SP ADR | 0.00% | 3,466 | $296K | Reduce -4.8% |
| MRK Merck & Co. Inc. | 0.00% | 2,926 | $291K | Reduce -5.2% |
| UNM Unum Group | 0.00% | 3,800 | $278K | No change |
| MDLZ Mondelez International Inc. Class A | 0.00% | 4,400 | $263K | No change |
| DGEAF Diageo PLC | 0.00% | 8,252 | $262K | Reduce -2.4% |
| HKHHY Heineken Holding NV-SPN ADR | 0.00% | 7,266 | $218K | Reduce -65.8% |
| MCD McDonald's Corp. | 0.00% | 705 | $204K | No change |
| PHJMF HM Sampoerna TBK PT filed as Hanjaya Mandala Sampoerna | 0.00% | 5,000,000 | $197K | No change |
| CFRUY Cie Financiere Rich-Unsp ADR filed as COMPAGNIE FINANCIERE RICHEMONT | 0.00% | 12,140 | $185K | Reduce -81.7% |
| CFDZF Cofide SPA | 0.00% | 251,250 | $156K | New |
Portfolio Sells Q3 2024 → Q4 2024
| NSRGY Nestle SA-Spons ADR | Reduce -9.0% | 5.84% | −1.34 |
| PDRDF Pernod Ricard SA | Reduce -6.5% | 3.88% | −1.17 |
| HKHHF Heineken Holding NV | Reduce -3.7% | 5.32% | −1.02 |
| ASHTF Ashtead Group PLC | Reduce -4.6% | 3.32% | −0.62 |
| BF.A Brown-Forman Corp. Class A | Reduce -5.3% | 0.86% | −0.19 |
| BRK.A Berkshire Hathaway Inc. Class A | Reduce -8.6% | 14.39% | −0.12 |
| CMCSA Comcast Corp. Class A | Reduce -6.3% | 1.18% | −0.09 |
| BF.B Brown-Forman Corp. Class B | Reduce -4.3% | 0.36% | −0.08 |
| CFRHF Cie Financiere Richemo-A Reg | Reduce -6.4% | 7.26% | −0.08 |
| WFC Wells Fargo & Co. | Reduce -51.9% | 0.15% | −0.08 |
| BUDFF Anheuser-Busch Inbev SA | Reduce -5.2% | 0.21% | −0.06 |
| NSRGF Nestle SA-Reg | Reduce -73.9% | 0.01% | −0.03 |
| DVDCF Davide Campari-Milano NV | Reduce -17.6% | 0.04% | −0.02 |
| V Visa Inc. Class A | Reduce -22.9% | 0.73% | −0.02 |
| MLM Martin Marietta Materials | Reduce -5.7% | 4.13% | −0.02 |
| HINKF Heineken NV | Reduce -40.5% | 0.01% | −0.01 |
| PG The Procter & Gamble Co. | Reduce -24.1% | 0.04% | −0.01 |
| CABJF Carlsberg As-B | Reduce -22.6% | 0.02% | −0.01 |
| CFRUY Cie Financiere Rich-Unsp ADR | Reduce -81.7% | 0.00% | −0.01 |
| OUT Outfront Media Inc. | Sold out | 0.00% | −0.01 |
| PRNDY Pernod Ricard SA - Spon ADR | Sold out | 0.00% | −0.01 |
| HKHHY Heineken Holding NV-SPN ADR | Reduce -65.8% | 0.00% | −0.01 |
| ASHTY Ashtead Group PLC-Unspon ADR | Sold out | 0.00% | −0.00 |
| CTVA Corteva Inc. | Sold out | 0.00% | −0.00 |
| LRLCF L'oreal | Reduce -1.0% | 0.02% | −0.00 |
| RBGPF Reckitt Benckiser Group PLC | Sold out | 0.00% | −0.00 |
| HEINY Heineken NV-SPN ADR | Sold out | 0.00% | −0.00 |
| CSL Carlisle Cos Inc. | Sold out | 0.00% | −0.00 |
| DHR Danaher Corp. | Sold out | 0.00% | −0.00 |
| COCXF Chocoladefabriken Lindt-Reg | Reduce -5.9% | 0.02% | −0.00 |
| TT Trane Technologies PLC | Sold out | 0.00% | −0.00 |
| BP BP PLC-Spons ADR | Sold out | 0.00% | −0.00 |
| PEP Pepsico Inc. | Reduce -5.8% | 0.02% | −0.00 |
| Cir SPA | Sold out | 0.00% | −0.00 |
| DVCMY Davide Campari - Unsp ADR | Sold out | 0.00% | −0.00 |
| KO The Coca-Cola Co. | Reduce -2.9% | 0.01% | −0.00 |
| ABBV Abbvie Inc. | Reduce -0.8% | 0.02% | −0.00 |
| FMX Fomento Economico Mex-SP ADR | Reduce -4.8% | 0.00% | −0.00 |
| MRK Merck & Co. Inc. | Reduce -5.2% | 0.00% | −0.00 |
| DGEAF Diageo PLC | Reduce -2.4% | 0.00% | −0.00 |
| HRL Hormel Foods Corp. | Reduce -5.2% | 0.02% | +0.00 |
| PNC PNC Financial Services Group | Reduce -7.5% | 0.01% | +0.00 |
| DIS The Walt Disney Co. | Reduce -8.1% | 0.00% | +0.00 |
| MKC McCormick & Co.-Non VTG SHRS | Reduce -0.1% | 0.04% | +0.00 |
| FULT Fulton Financial Corp. | Reduce -8.0% | 0.02% | +0.00 |
| VMC Vulcan Materials Co. | Reduce -9.8% | 0.06% | +0.00 |
| AAPL Apple Inc. | Reduce -7.5% | 0.02% | +0.00 |
| MSFT Microsoft Corp. | Reduce -1.0% | 0.02% | +0.00 |
| WMT Walmart Inc. | Reduce -0.6% | 0.01% | +0.00 |
| DOV Dover Corp. | Reduce -2.8% | 0.05% | +0.00 |
Portfolio Buys Q3 2024 → Q4 2024
| FBLA FB Bancorp Inc. | New | 0.01% | +0.01 |
| GOOGL Alphabet Inc. Class A | Add +0.1% | 0.04% | +0.01 |
| OUT Outfront Media Inc. | New | 0.01% | +0.01 |
| XOM Exxon Mobil Corp. | Add +0.4% | 0.23% | +0.00 |
| CFDZF Cofide SPA | New | 0.00% | +0.00 |
| UNP Union Pacific Corp. | Add +0.5% | 0.06% | +0.00 |
| CVX Chevron Corp. | Add +0.4% | 0.01% | +0.00 |
| TFC Truist Financial Corp. | Add +0.7% | 0.00% | +0.00 |
| SWZ Total Return Securities Fund | Add +1.9% | 0.02% | −0.00 |
| UBER Uber Technologies Inc. | Add +9.3% | 2.83% | −0.10 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 85 | $8.9B | GOOG, BRK.A, PM, MA, CFRHF |
| Q1 2026 | 86 | $8.5B | BRK.A, GOOG, MA, PM, HKHHF |
| Q4 2025 | 87 | $9.3B | GOOG, BRK.A, MA, CFRHF, PM |
| Q3 2025 | 85 | $9.3B | BRK.A, GOOG, MA, PM, CFRHF |
| Q2 2025 | 85 | $9.4B | BRK.A, MA, GOOG, PM, NFLX |
| Q1 2025 | 86 | $8.9B | BRK.A, MA, GOOG, PM, CFRHF |
| Q4 2024 | 68 | $8.8B | BRK.A, GOOG, MA, CFRHF, PM |
| Q3 2024 | 77 | $9.7B | BRK.A, GOOG, MA, CFRHF, NSRGY |
| Q2 2024 | 77 | $9.5B | BRK.A, GOOG, MA, NSRGY, CFRHF |
| Q1 2024 | 81 | $9.7B | BRK.A, GOOG, MA, NSRGY, CFRHF |