Gardner Russo & Quinn
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 13, 2025), Tom Russo's Gardner Russo & Quinn reported 86 stock positions worth $8.9 billion. Its top holding was Berkshire Hathaway Class A (BRK.A) at 14.8% of the portfolio, followed by Mastercard Class A (MA, 10.5%) and Alphabet Class C (GOOG, 8.9%). Compared with Q4 2024, it opened 20 new positions, sold out of 2, added to 10 and reduced 43. The biggest buy was Heineken (HKHHF, shares +4%) and the biggest sale Alphabet Class C (GOOG, shares −9%).
- Most Recent 13F
- Q2 2026
- Notable People
- Tom Russo
- Location
- LANCASTER, PA
- CIK
- 0000860643
- Portfolio Value
- $8.9B (Q1 2025)
- SEC Filing
- 0000860643-25-000003 ↗ filed May 13, 2025
Holdings Value
Holdings 86 stocks · $8.9B
| BRK.A Berkshire Hathaway Inc. Class A | 14.83% | 1,657 | $1.3B | Reduce -11.3% |
| MA Mastercard Inc. Class A | 10.55% | 1,716,374 | $940.8M | Reduce -8.9% |
| GOOG Alphabet Inc. Class C | 8.94% | 5,106,605 | $797.8M | Reduce -9.4% |
| PM Philip Morris International | 8.93% | 5,016,631 | $796.3M | Reduce -3.3% |
| CFRHF Cie Financiere Richemo-A Reg | 7.34% | 3,788,649 | $655.0M | Reduce -10.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 7.05% | 1,180,608 | $628.8M | Reduce -8.3% |
| NSRGY Nestle SA-Spons ADR | 6.97% | 6,143,739 | $621.6M | Reduce -2.9% |
| HKHHF Heineken Holding NV | 6.59% | 8,139,838 | $588.2M | Add +3.6% |
| NFLX Netflix Inc. | 5.84% | 558,412 | $520.7M | Reduce -11.8% |
| MLM Martin Marietta Materials | 3.83% | 714,252 | $341.5M | Add +1.0% |
| UBER Uber Technologies Inc. | 3.62% | 4,431,675 | $322.9M | Add +6.8% |
| ASHTF Ashtead Group PLC | 3.31% | 5,514,309 | $295.1M | Add +16.9% |
| PDRDF Pernod Ricard SA | 3.19% | 2,882,247 | $284.1M | Reduce -5.1% |
| JPM JPMorgan Chase & Co. | 2.87% | 1,043,354 | $255.9M | Reduce -17.3% |
| DASH DoorDash Inc. Class A | 1.63% | 793,665 | $145.1M | Add +18.4% |
| CMCSA Comcast Corp. Class A | 1.08% | 2,616,811 | $96.6M | Reduce -6.0% |
| BF.A Brown-Forman Corp. Class A | 0.70% | 1,870,922 | $62.6M | Reduce -7.2% |
| V Visa Inc. Class A | 0.51% | 130,701 | $45.8M | Reduce -36.1% |
| BF.B Brown-Forman Corp. Class B | 0.31% | 820,796 | $27.9M | Reduce -2.3% |
| XOM Exxon Mobil Corp. | 0.25% | 189,469 | $22.5M | Add +0.3% |
| BUDFF Anheuser-Busch Inbev SA | 0.23% | 338,650 | $20.8M | Reduce -10.4% |
| MKL Markel Group Inc. | 0.17% | 8,276 | $15.5M | Reduce -4.0% |
| MO Altria Group Inc. | 0.17% | 246,648 | $14.8M | Reduce -8.6% |
| CR Crane Co. | 0.10% | 60,305 | $9.2M | Reduce -0.7% |
| UNP Union Pacific Corp. | 0.07% | 24,588 | $5.8M | Add +0.2% |
| WFC Wells Fargo & Co. | 0.05% | 62,901 | $4.5M | Reduce -67.5% |
| COST Costco Wholesale Corp. | 0.05% | 4,637 | $4.4M | Reduce -14.1% |
| VMC Vulcan Materials Co. | 0.05% | 18,737 | $4.4M | Reduce -11.5% |
| DOV Dover Corp. | 0.04% | 21,951 | $3.9M | Reduce -2.2% |
| AXP American Express Co. | 0.04% | 13,658 | $3.7M | Reduce -7.8% |
| MKC McCormick & Co.-Non VTG SHRS | 0.04% | 42,626 | $3.5M | Reduce -0.3% |
| SWZ Total Return Securities Fund | 0.03% | 293,403 | $2.7M | Add +1.6% |
| ABBV Abbvie Inc. | 0.03% | 12,410 | $2.6M | No change |
| GOOGL Alphabet Inc. Class A | 0.03% | 15,611 | $2.4M | Reduce -23.7% |
| COCXF Chocoladefabriken Lindt-Reg filed as Lindt & Spruengli AG - Reg | 0.02% | 16 | $2.1M | No change |
| PG The Procter & Gamble Co. | 0.02% | 11,000 | $1.9M | Reduce -53.7% |
| MSFT Microsoft Corp. | 0.02% | 4,620 | $1.7M | Reduce -6.8% |
| PEP Pepsico Inc. | 0.02% | 10,979 | $1.6M | Reduce -4.8% |
| ABT Abbott Laboratories | 0.02% | 11,510 | $1.5M | No change |
| LRLCF L'oreal | 0.02% | 4,086 | $1.5M | Reduce -28.4% |
| KNCRF Konecranes Oyj | 0.02% | 23,650 | $1.5M | New |
| H Hyatt Hotels Corp. Class A | 0.02% | 11,675 | $1.4M | New |
| HRL Hormel Foods Corp. | 0.02% | 46,081 | $1.4M | Reduce -8.5% |
| DVDCF Davide Campari-Milano NV | 0.02% | 235,151 | $1.4M | Reduce -59.4% |
| WILLF Demant A/S | 0.02% | 40,250 | $1.3M | New |
| CABJF Carlsberg As-B | 0.01% | 10,307 | $1.3M | Reduce -43.2% |
| HRI Herc Holdings Inc. filed as HERC HLDGS INC | 0.01% | 9,450 | $1.3M | New |
| FULT Fulton Financial Corp. | 0.01% | 69,700 | $1.3M | Reduce -6.7% |
| HINKF Heineken NV | 0.01% | 15,131 | $1.2M | No change |
| FLUIF Fluidra SA | 0.01% | 50,500 | $1.2M | New |
| AAPL Apple Inc. | 0.01% | 5,249 | $1.2M | Reduce -9.6% |
| DELHF De'longhi SPA | 0.01% | 35,250 | $1.2M | New |
| PUIGF Puig Brands SA-B | 0.01% | 68,000 | $1.2M | New |
| HMRZF Hennes & Mauritz AB-B SHS filed as H&M | 0.01% | 88,000 | $1.2M | New |
| LTSSF Lotus Bakeries | 0.01% | 130 | $1.2M | New |
| NSRGF Nestle SA-Reg | 0.01% | 11,285 | $1.1M | Add +7.9% |
| ECTXF Electrolux Professional AB-B | 0.01% | 175,500 | $1.1M | New |
| YETI Yeti Holdings Inc. filed as YETI HLDGS INC | 0.01% | 32,500 | $1.1M | New |
| SSPPF SSP Group PLC | 0.01% | 548,000 | $1.1M | New |
| LEVI Levi Strauss & Co. Class A | 0.01% | 67,725 | $1.1M | New |
| GNRC Generac Holdings Inc. | 0.01% | 8,250 | $1.0M | New |
| FLMNF Fielmann Group AG | 0.01% | 22,300 | $1.0M | New |
| KO The Coca-Cola Co. | 0.01% | 13,640 | $977K | Reduce -3.3% |
| WRBY Warby Parker Inc. Class A | 0.01% | 51,650 | $942K | New |
| RL Ralph Lauren Corp. | 0.01% | 4,100 | $905K | New |
| WMT Walmart Inc. | 0.01% | 10,240 | $899K | Reduce -0.6% |
| JBTM JBT Marel Corp. | 0.01% | 7,250 | $886K | New |
| PNC PNC Financial Services Group | 0.01% | 4,950 | $870K | No change |
| RTLLF Rational AG | 0.01% | 975 | $806K | New |
| FBLA FB Bancorp Inc. | 0.01% | 70,000 | $788K | No change |
| CVX Chevron Corp. | 0.01% | 4,217 | $705K | Reduce -5.5% |
| LAMR Lamar Advertising Co. Class A | 0.01% | 5,974 | $680K | No change |
| ORCL Oracle Corp. | 0.01% | 3,475 | $486K | No change |
| TFC Truist Financial Corp. | 0.00% | 9,692 | $399K | Add +0.8% |
| LTGIF LT Group Inc. | 0.00% | 1,775,000 | $378K | No change |
| FMX Fomento Economico Mex-SP ADR | 0.00% | 3,398 | $332K | Reduce -2.0% |
| UNM Unum Group | 0.00% | 3,800 | $310K | No change |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.00% | 2,943 | $290K | Reduce -17.6% |
| OUT Outfront Media Inc. | 0.00% | 17,706 | $286K | Reduce -60.5% |
| MRK Merck & Co. Inc. | 0.00% | 2,763 | $248K | Reduce -5.6% |
| HKHHY Heineken Holding NV-SPN ADR | 0.00% | 6,260 | $226K | Reduce -13.8% |
| MCD McDonald's Corp. | 0.00% | 705 | $220K | No change |
| BP BP PLC-Spons ADR | 0.00% | 6,300 | $213K | New |
| DGEAF Diageo PLC | 0.00% | 8,077 | $210K | Reduce -2.1% |
| PHJMF HM Sampoerna TBK PT filed as Hanjaya Mandala Sampoerna | 0.00% | 5,000,000 | $166K | No change |
| CFDZF Cofide SPA | 0.00% | 251,250 | $149K | No change |
Portfolio Sells Q4 2024 → Q1 2025
| GOOG Alphabet Inc. Class C | Reduce -9.4% | 8.94% | −3.19 |
| PDRDF Pernod Ricard SA | Reduce -5.1% | 3.19% | −0.69 |
| MA Mastercard Inc. Class A | Reduce -8.9% | 10.55% | −0.67 |
| JPM JPMorgan Chase & Co. | Reduce -17.3% | 2.87% | −0.55 |
| NFLX Netflix Inc. | Reduce -11.8% | 5.84% | −0.54 |
| V Visa Inc. Class A | Reduce -36.1% | 0.51% | −0.22 |
| BF.A Brown-Forman Corp. Class A | Reduce -7.2% | 0.70% | −0.16 |
| WFC Wells Fargo & Co. | Reduce -67.5% | 0.05% | −0.10 |
| CMCSA Comcast Corp. Class A | Reduce -6.0% | 1.08% | −0.10 |
| BF.B Brown-Forman Corp. Class B | Reduce -2.3% | 0.31% | −0.05 |
| DVDCF Davide Campari-Milano NV | Reduce -59.4% | 0.02% | −0.03 |
| PG The Procter & Gamble Co. | Reduce -53.7% | 0.02% | −0.02 |
| GOOGL Alphabet Inc. Class A | Reduce -23.7% | 0.03% | −0.02 |
| VMC Vulcan Materials Co. | Reduce -11.5% | 0.05% | −0.01 |
| AXP American Express Co. | Reduce -7.8% | 0.04% | −0.01 |
| COST Costco Wholesale Corp. | Reduce -14.1% | 0.05% | −0.01 |
| LRLCF L'oreal | Reduce -28.4% | 0.02% | −0.01 |
| OUT Outfront Media Inc. | Reduce -60.5% | 0.00% | −0.01 |
| CABJF Carlsberg As-B | Reduce -43.2% | 0.01% | −0.01 |
| DOV Dover Corp. | Reduce -2.2% | 0.04% | −0.00 |
| MSFT Microsoft Corp. | Reduce -6.8% | 0.02% | −0.00 |
| AAPL Apple Inc. | Reduce -9.6% | 0.01% | −0.00 |
| MDLZ Mondelez International Inc. Class A | Sold out | 0.00% | −0.00 |
| CFRUY Cie Financiere Rich-Unsp ADR | Sold out | 0.00% | −0.00 |
| FULT Fulton Financial Corp. | Reduce -6.7% | 0.01% | −0.00 |
| HRL Hormel Foods Corp. | Reduce -8.5% | 0.02% | −0.00 |
| PEP Pepsico Inc. | Reduce -4.8% | 0.02% | −0.00 |
| DIS The Walt Disney Co. | Reduce -17.6% | 0.00% | −0.00 |
| CR Crane Co. | Reduce -0.7% | 0.10% | −0.00 |
| DGEAF Diageo PLC | Reduce -2.1% | 0.00% | −0.00 |
| MRK Merck & Co. Inc. | Reduce -5.6% | 0.00% | −0.00 |
| WMT Walmart Inc. | Reduce -0.6% | 0.01% | −0.00 |
| HKHHY Heineken Holding NV-SPN ADR | Reduce -13.8% | 0.00% | +0.00 |
| FMX Fomento Economico Mex-SP ADR | Reduce -2.0% | 0.00% | +0.00 |
| CVX Chevron Corp. | Reduce -5.5% | 0.01% | +0.00 |
| KO The Coca-Cola Co. | Reduce -3.3% | 0.01% | +0.00 |
| MKC McCormick & Co.-Non VTG SHRS | Reduce -0.3% | 0.04% | +0.00 |
| MKL Markel Group Inc. | Reduce -4.0% | 0.17% | +0.01 |
| MO Altria Group Inc. | Reduce -8.6% | 0.17% | +0.01 |
| BUDFF Anheuser-Busch Inbev SA | Reduce -10.4% | 0.23% | +0.02 |
| CFRHF Cie Financiere Richemo-A Reg | Reduce -10.3% | 7.34% | +0.08 |
| BRK.A Berkshire Hathaway Inc. Class A | Reduce -11.3% | 14.83% | +0.45 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -8.3% | 7.05% | +0.45 |
| NSRGY Nestle SA-Spons ADR | Reduce -2.9% | 6.97% | +1.12 |
| PM Philip Morris International | Reduce -3.3% | 8.93% | +1.87 |
Portfolio Buys Q4 2024 → Q1 2025
| HKHHF Heineken Holding NV | Add +3.6% | 6.59% | +1.27 |
| UBER Uber Technologies Inc. | Add +6.8% | 3.62% | +0.79 |
| DASH DoorDash Inc. Class A | Add +18.4% | 1.63% | +0.36 |
| XOM Exxon Mobil Corp. | Add +0.3% | 0.25% | +0.02 |
| KNCRF Konecranes Oyj | New | 0.02% | +0.02 |
| H Hyatt Hotels Corp. Class A | New | 0.02% | +0.02 |
| WILLF Demant A/S | New | 0.02% | +0.02 |
| HRI Herc Holdings Inc. | New | 0.01% | +0.01 |
| FLUIF Fluidra SA | New | 0.01% | +0.01 |
| PUIGF Puig Brands SA-B | New | 0.01% | +0.01 |
| DELHF De'longhi SPA | New | 0.01% | +0.01 |
| LTSSF Lotus Bakeries | New | 0.01% | +0.01 |
| HMRZF Hennes & Mauritz AB-B SHS | New | 0.01% | +0.01 |
| ECTXF Electrolux Professional AB-B | New | 0.01% | +0.01 |
| YETI Yeti Holdings Inc. | New | 0.01% | +0.01 |
| SSPPF SSP Group PLC | New | 0.01% | +0.01 |
| LEVI Levi Strauss & Co. Class A | New | 0.01% | +0.01 |
| GNRC Generac Holdings Inc. | New | 0.01% | +0.01 |
| FLMNF Fielmann Group AG | New | 0.01% | +0.01 |
| WRBY Warby Parker Inc. Class A | New | 0.01% | +0.01 |
| RL Ralph Lauren Corp. | New | 0.01% | +0.01 |
| JBTM JBT Marel Corp. | New | 0.01% | +0.01 |
| RTLLF Rational AG | New | 0.01% | +0.01 |
| SWZ Total Return Securities Fund | Add +1.6% | 0.03% | +0.01 |
| NSRGF Nestle SA-Reg | Add +7.9% | 0.01% | +0.00 |
| BP BP PLC-Spons ADR | New | 0.00% | +0.00 |
| UNP Union Pacific Corp. | Add +0.2% | 0.07% | +0.00 |
| TFC Truist Financial Corp. | Add +0.8% | 0.00% | −0.00 |
| ASHTF Ashtead Group PLC | Add +16.9% | 3.31% | −0.01 |
| MLM Martin Marietta Materials | Add +1.0% | 3.83% | −0.30 |
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 |