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GARDNER RUSSO & QUINN LLC

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LANCASTER PA Investment Advisor Hedge Fund
13F Summary
Gardner Russo & Gardner, based out of Lancaster, PA, is managed by Tom Russo.Whalewisdom has at least 102 13F filings, and 17 13G filings Their last reported 13F filing for Q4 2024 included $8,845,870,766 in managed 13F securities and a top 10 holdings concentration of 80.33%. Gardner Russo & Quinn's largest holding is Berkshire Hathaway Inc Class A with shares held of 1,869.
Business Description
The firm's advisory business is discretionary portfolio management on an individual, account-by-account basis. Their client portfolios consist of common stocks that can broadly be termed global value. Within this universe, they focus on stocks that are purchased and held for the purpose of long-term appreciation. Their advice is limited to this discipline. Investment decisions are made with little input from Wall Street, using primary, fundamental research directed towards a limited number of global industries. They conduct research by analyzing a company's financial reports, attending annual, industry, and analyst meetings, and engaging its management in appropriate venues. They assess its free cash flow generation, sustainability of franchise, earnings and pricing power, and quality of management; they match their judgments of these against the price of the company's stock. They buy common stocks in concentrated industry groups in competitively advantaged, global businesses that are run by able and honest managers. Their intention and hope is to retain meaningful positions in these holdings for a long period of time.
Investment Strategy
The firm's investment strategy is discretionary portfolio management, focusing on individual client accounts. They invest in common stocks with a global value approach, prioritizing long-term appreciation over income generation. The firm emphasizes low turnover to minimize taxes and transaction costs, encouraging clients to adopt a business owner mindset and focus on long-term value creation. The firm's portfolio construction involves meaningful positions and concentrated industry groups. The largest positions can have significant weightings within the portfolio, allowing for diversification while concentrating funds in their most promising investment ideas. They favor companies with the capacity to reinvest and shareholder-minded management willing to make long-term investments despite potential short-term profit impacts.
Owners
  • GARDNER, JR., EUGENE, HERR - MEMBER/PORTFOLIO MANAGER
  • RUSSO, CHRISTOPHER - MEMBER/ASSISTANT PORTFOLIO MANAGER
  • QUINN, TIMOTHY, CHARLES - MEMBER/PORTFOLIO MANAGER
  • Troupe, Rodger, Dale - CHIEF COMPLIANCE OFFICER/CHIEF ADMINISTRATIVE OFFICER
  • RUSSO, THOMAS, ADRIAN - MANAGING MEMBER/CHAIRMAN
  • Click on the Ownership/Private Fund Data tab for more details.
Known Email Addresses
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Other Contact Information
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2024-12-31

Top Buys (13F)

2024-12-31

Top Sells (13F)

Name % Change
NSRGY Nestle SA ADR 1.34%
PDRDF Pernod Ricard SA Ord 1.17%
HKHHF Heineken Holding N.V 1.02%
ASHTF Ashtead Group PLC Or 0.62%
BF.A Brown-Forman Corp. C 0.19%

2024-12-31

13F Holdings Summary

Name $ Change
BRK.A Berkshire Hathaway I 14.39%
GOOG Alphabet Inc. Class 12.13%
MA Mastercard Inc 11.22%
CFRHF Compagnie Financiere 7.26%
PM Philip Morris Intern 7.06%
All or part of GARDNER RUSSO & QUINN LLC 13F disclosures were filed under a combined 13F through SELECT ASSET MANAGEMENT & TRUST CARY STREET PARTNERS INVESTMENT ADVISORY LLC
for 2024-12-31

2024-12-31

13F Activity

Market Value $8.85b, Prior: $9.74b
Inflows (Outflows) as % of Total MV (-7.3803)%
New Purchases 2 stocks
Added To 7 stocks
Sold out of 11 stocks
Reduced holdings in 51 stocks
Top 10 Holdings % 80.33%
Turnover %[1] 16.46%
Turnover Alt %[2] 0.25%
Time Held Top 20 43.2 quarters
Time Held Top 10 42.6 quarters
Time Held All 57.21 quarters

[1]: Turnover is calculated by taking the # of new holdings (initial purchases) + the # of positions sold out of (not just reduced) divided by the total # of holdings for the quarter.

[2]: Alt Turnover is calculated by taking either the total MV of new purchases or the MV of securities sold, whichever is less, divided by the total MV of the fund.

2024-12-31

13F Sector Allocation Over Time

limited to past 4 quarters. Subscribe to see all available data

2024-12-31

Analysis

Top 20 equal-weighted holdings. Performance numbers calculated through 2024-12-31

Portfolio Performance