Gardner Russo & Quinn

Managed by Tom Russo

Portfolio value: $8.50B
Holdings: 65
Top 5 weight: 55.65%
Latest filing: Q1 '26 Mar 31

Portfolio

Reported 13F holdings, largest positions first

67holdings

BRK.B 18.6%GOOGL 11.35%MA 9.15%PM 8.96%HEINY 7.59%CFRHF 7%Other 37.36%

Company% PortfolioSharesValue

BRK.BBERKSHIRE HATHAWAY INC18.6%1,112,000$1.58B GOOGLALPHABET INC11.35%3,362,000$964.40M MAMASTERCARD INC9.15%1,555,000$777.00M PMPHILIP MORRIS INTERNATIONAL INC8.96%4,605,000$761.40M

HEINYHEINY7.59%9,117,000$644.50M

CFRHFCFRHF7%3,447,000$594.40M

NSRGYNSRGY6.41%5,493,000$544.30M

NFLXNETFLIX INC6.35%5,611,000$539.50M MLMMARTIN MARIETTA MATERIALS INC4.96%715,000$421.10M SUNBSUNBELT RENTALS HOLDINGS INC4.63%6,049,000$393.70M UBERUBER TECHNOLOGIES INC4.38%5,173,000$372.10M

U10DU10D2.63%3,096,000$223.60M

PDRDYPDRDY2.16%2,480,000$183.50M

DASHDOORDASH INC1.77%1,001,000$150.30M CMCSACOMCAST CORP0.76%2,253,000$64.70M BF.BBROWN FORMAN CORP0.73%2,308,000$61.60M JPMJPMORGAN CHASE & CO0.52%149,000$43.80M XOMEXXON MOBIL CORP0.39%194,000$32.90M VVISA INC0.33%94,000$28.40M

U10DUNDU10D0.22%3,507,000$18.90M

BUDANHEUSER-BUSCH INBEV SA0.15%184,000$12.70M MOALTRIA GROUP INC0.13%164,000$10.90M MKLMARKEL GROUP INC0.11%5,000$9.50M CRCRANE CO0.09%47,000$8.00M UNPUNION PACIFIC CORP0.08%28,000$6.70M COSTCOSTCO WHOLESALE CORP0.05%5,000$4.60M DOVDOVER CORP0.05%19,000$4.00M ABBVABBVIE INC0.03%12,000$2.70M

COCXFCOCXF0.02%0$2.10M

AXPAMERICAN EXPRESS CO0.02%6,000$2.00M VMCVULCAN MATERIALS CO0.02%7,000$2.00M MKCMCCORMICK & CO INC0.02%39,000$1.90M

KNCRFKNCRF0.02%53,000$1.70M

WRBYWARBY PARKER INC0.02%80,000$1.70M LEVILEVI STRAUSS & CO0.02%83,000$1.50M

LRLCYLRLCY0.02%4,000$1.50M

PEPPEPSICO INC0.02%9,000$1.40M MSFTMICROSOFT CORP0.02%4,000$1.30M PGPROCTER & GAMBLE CO0.02%9,000$1.30M AAPLAPPLE INC0.01%5,000$1.20M ABTABBOTT LABORATORIES0.01%12,000$1.20M

CABGYCABGY0.01%10,000$1.20M

HMRZFHMRZF0.01%64,000$1.20M

WMTWALMART INC0.01%10,000$1.20M FULTFULTON FINANCIAL CORP0.01%49,000$1.00M KOCOCA COLA CO0.01%13,000$1.00M JBTMJBT MAREL CORP0.01%7,000$900.00K YETIYETI HOLDINGS INC0.01%24,000$900.00K FBLAFB BANCORP INC0.01%50,000$700.00K LAMRLAMAR ADVERTISING CO0.01%5,000$700.00K

ZLNDYZLNDY0.01%28,000$700.00K

HRIHERC HOLDINGS INC0.01%6,000$600.00K

SWZFNDSWZ0.01%98,000$600.00K

WFCWELLS FARGO & COMPANY0.01%7,000$600.00K CVXCHEVRON CORP0.01%2,000$500.00K ORCLORACLE CORP0.01%4,000$500.00K GNRCGENERAC HOLDINGS INC0%2,000$400.00K HRLHORMEL FOODS CORP0%19,000$400.00K OUTOUTFRONT MEDIA INC0%14,000$400.00K CATCATERPILLAR INC0%0$300.00K JNJJOHNSON & JOHNSON0%1,000$300.00K MCDMCDONALDS CORP0%1,000$300.00K MRKMERCK & CO INC0%2,000$300.00K UNMUNUM GROUP0%4,000$300.00K AMZNAMAZON COM INC0%1,000$200.00K DISWALT DISNEY CO0%3,000$200.00K

PHJMFPHJMF0%5,000,000$200.00K

From the fund's Q1 '26 13F filingWhat is a 13F?

Activity

Buys and sells, quarter by quarter

Mar 31, 2026 filing - 51 moves · 13 buy-side · 38 sell-side

CompanyChangeValue

BRK.BBERKSHIRE HATHAWAY INC1.3%$1.58B GOOGLALPHABET INC14.8%$964.40M MAMASTERCARD INC2.0%$777.00M PMPHILIP MORRIS INTERNATIONAL INC2.0%$761.40M

HEINYHEINY1.1%$644.50M

CFRHFCFRHF1.6%$594.40M

NSRGYNSRGY2.4%$544.30M

NFLXNETFLIX INC12.1%$539.50M MLMMARTIN MARIETTA MATERIALS INC1.7%$421.10M

ASHTYASHTYSold$418.10M

SUNBSUNBELT RENTALS HOLDINGS INCNew$393.70M UBERUBER TECHNOLOGIES INC0.5%$372.10M

U10DU10DNew$223.60M

PDRDYPDRDY2.9%$183.50M

DASHDOORDASH INC7.6%$150.30M CMCSACOMCAST CORP2.0%$64.70M BF.BBROWN FORMAN CORP2.9%$61.60M JPMJPMORGAN CHASE & CO71.8%$43.80M XOMEXXON MOBIL CORP0.5%$32.90M VVISA INC13.8%$28.40M

U10DU10D2.6%$18.90M

BUDANHEUSER-BUSCH INBEV SA30.8%$12.70M MOALTRIA GROUP INC0.6%$10.90M MKLMARKEL GROUP INC16.7%$9.50M CRCRANE CO13.0%$8.00M UNPUNION PACIFIC CORP12.0%$6.70M DOVDOVER CORP5.0%$4.00M DEODIAGEO PLCSold$2.80M AXPAMERICAN EXPRESS CO50.0%$2.00M VMCVULCAN MATERIALS CO12.5%$2.00M MKCMCCORMICK & CO INC4.9%$1.90M

KNCRFKNCRF194.4%$1.70M

WRBYWARBY PARKER INC23.1%$1.70M LEVILEVI STRAUSS & CO72.9%$1.50M HHYATT HOTELS CORPSold$1.40M PEPPEPSICO INC10.0%$1.40M PGPROCTER & GAMBLE CO25.0%$1.30M

CABGYCABGY56.5%$1.20M

FULTFULTON FINANCIAL CORP9.3%$1.00M KOCOCA COLA CO7.1%$1.00M PNCPNC FINANCIAL SERVICES GROUP INCSold$800.00K LAMRLAMAR ADVERTISING CO16.7%$700.00K

SWZSWZ32.9%$600.00K

WFCWELLS FARGO & COMPANY12.5%$600.00K CVXCHEVRON CORP33.3%$500.00K ORCLORACLE CORP33.3%$500.00K HRLHORMEL FOODS CORP5.0%$400.00K OUTOUTFRONT MEDIA INC12.5%$400.00K CATCATERPILLAR INC100.0%$300.00K MRKMERCK & CO INCNew$300.00K IBMINTERNATIONAL BUSINESS MACHINES CORPSold$200.00K

Changes are share-count changes vs. the prior quarter

About this investor

Gardner Russo & Quinn is home to Tom Russo, a global value investor focused on consumer brands and family-controlled companies with strong staying power. Russo looks for management with the capacity to suffer near-term costs to build long-term value, and holds his positions for decades. Very low turnover and a global reach mark the approach.

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