GARDNER RUSSO & QUINN LLC

Superinvestor · Tom Russo

CIK

860643

Location

LANCASTER, PA

Portfolio Value

Mid $4,238,816,385

Diversification

Diversified

Filing Date

Global Rank

#753 / 8,621 ▲ 21 · as of Mar 2026

Top Industry

Credit Services 19.0%

3Y Alpha vs SPY

-7.2%

Period ended 4 months ago

Filed May 13, 2026 · 3mo

25 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.

Cloned portfolio

+55.2%

SPY

+67.9%

Annualised alpha

-3.1%

Max drawdown

−10.4%

Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. It tracks 100% of reported value on average across 13 quarters. Past performance does not predict future results.

Portfolio Concentration

53 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

18.3%

−3.2 pts

Top 5

71.5%

−3.3 pts

Top 10

95.7%

−0.7 pts

HHI

1,259

Diversified−93

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Financial Services	32.9%	$1,395,280,620	10
Consumer Defensive	19.5%	$828,348,925	10
Communication Services	14.3%	$607,733,367	4
Basic Materials	10.0%	$423,125,861	2
Industrials	9.8%	$414,730,910	8
Technology	8.9%	$375,170,183	4
Consumer Cyclical	3.6%	$153,248,092	5
Energy	0.8%	$33,416,600	2
Healthcare	0.1%	$6,142,670	5
Real Estate	0.0%	$1,039,992	2
Unclassified	0.0%	$579,165	1

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

12 positions

Ticker	Company	Δ Shares	Shares	Value
NFLX	Netflix Inc	+605,901	5,610,666	$539,465,535
DASH	DoorDash, Inc.	+70,728	1,001,195	$150,329,429
LEVI	Levi Strauss & Co	+35,000	82,725	$1,529,585
UBER	Uber Technologies, Inc	+28,344	5,173,404	$372,122,949
WRBY	Warby Parker Inc.	+15,000	80,000	$1,685,600
UNP	Union Pacific Corp	+2,654	27,638	$6,705,531
XOM	ExxonMobil Holdings Corp	+917	193,950	$32,905,557
JNJ	Johnson & Johnson	+328	1,304	$318,749
ORCL	Oracle Corp	+125	3,600	$529,596
AAPL	Apple Inc.	+77	4,751	$1,205,756
MCD	Mcdonalds Corp	+42	947	$294,318
DIS	Walt Disney Co	+7	2,517	$242,588
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
JPM	Jpmorgan Chase & Co	−380,019	148,798	$43,770,419
PM	Philip Morris International Inc.	−92,439	4,605,069	$761,402,108
SWZ	Total Return Securities Fund	−48,617	97,667	$579,165
CMCSA	Comcast Corp	−47,091	2,253,106	$64,686,673
MA	Mastercard Inc	−30,858	1,555,141	$777,041,752
BF-A	Brown Forman Corp	−20,216	1,647,878	$44,146,651
V	Visa Inc.	−15,006	93,812	$28,353,738
BRK-B	Berkshire Hathaway Inc	−14,966	1,110,429	$532,117,576
MLM	Martin Marietta Materials Inc	−11,201	715,411	$421,148,147
CR	Crane Co	−7,775	46,626	$7,973,046
AXP	American Express Co	−5,675	6,485	$1,961,582
FULT	Fulton Financial Corp	−5,150	48,950	$995,643
GOOGL	Alphabet Inc.	−3,306	11,610	$3,338,571
PG	PROCTER & GAMBLE Co	−2,722	9,229	$1,333,036
OUT	OUTFRONT Media Inc.	−2,089	13,588	$360,082
MKC	Mccormick & Co Inc	−2,085	38,581	$1,946,025
MKL	Markel Group Inc.	−1,325	4,954	$9,482,302
HRL	Hormel Foods Corp /De/	−835	19,000	$430,350
VMC	Vulcan Materials CO	−649	7,263	$1,977,714
KO	Coca Cola Co	−615	13,025	$990,551
LAMR	Lamar Advertising Co/New	−606	5,368	$679,910
PEP	Pepsico Inc	−589	9,205	$1,429,444
WFC	Wells Fargo & Company/Mn	−514	7,450	$593,094
WMT	Walmart Inc.	−425	9,740	$1,210,487
DOV	DOVER Corp	−400	19,126	$3,986,814
No positions match the current search.

New Positions

Positions the filer opened this quarter

2 positions

Ticker	Company	Shares	Value
SUNB	Sunbelt Rentals Holdings, Inc.	6,049,133	$393,738,066
MRK	Merck & Co., Inc.	2,141	$257,540
No positions match the current search.

Sold Out

Positions the filer fully exited

3 positions

Ticker	Company	Shares	Value
H	Hyatt Hotels Corp	8,675	$1,390,776
PNC	Pnc Financial Services Group, Inc.	3,750	$782,737
IBM	International Business Machines Corp	750	$222,157
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

53 positions · $4,238,816,385 total · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology

Showing 1–50 of 53 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Est. Price	% of Portfolio
MA	Mastercard Inc Financial Services	Reduced	1,555,141	-30,858	$777,041,752	−14.2%	$526.66	18.33%
PM	Philip Morris International Inc. Consumer Defensive	Reduced	4,605,069	-92,439	$761,402,108	+1.1%	$173.77	17.96%
NFLX	Netflix Inc Communication Services	Added	5,610,666	+605,901	$539,465,535	+15.0%	$88.11	12.73%
BRK-B	Berkshire Hathaway Inc Financial Services	Reduced	1,110,429	-14,966	$532,117,576	−5.9%	$490.90	12.55%
MLM	Martin Marietta Materials Inc Basic Materials	Reduced	715,411	-11,201	$421,148,147	−6.9%	$638.17	9.94%
SUNB	Sunbelt Rentals Holdings, Inc. Industrials	NEW	6,049,133	NEW	$393,738,066	NEW	$70.19	9.29%
UBER	Uber Technologies, Inc Technology	Added	5,173,404	+28,344	$372,122,949	−11.5%	$76.97	8.78%
DASH	DoorDash, Inc. Consumer Cyclical	Added	1,001,195	+70,728	$150,329,429	−28.7%	$184.78	3.55%
CMCSA	Comcast Corp Communication Services	Reduced	2,253,106	-47,091	$64,686,673	+0.4%	$29.89	1.53%
BF-A	Brown Forman Corp Consumer Defensive	Reduced	1,647,878	-20,216	$44,146,651	+0.6%	$27.21	1.04%
JPM	Jpmorgan Chase & Co Financial Services	Reduced	148,798	-380,019	$43,770,419	−74.3%	$303.48	1.03%
XOM	ExxonMobil Holdings Corp Energy	Added	193,950	+917	$32,905,557	+41.7%	$145.93	0.78%
V	Visa Inc. Financial Services	Reduced	93,812	-15,006	$28,353,738	−25.7%	$321.55	0.67%
MO	Altria Group, Inc. Consumer Defensive	Reduced	164,461	-311	$10,852,781	+14.2%	$64.34	0.26%
MKL	Markel Group Inc. Financial Services	Reduced	4,954	-1,325	$9,482,302	−29.7%	$2,029.46	0.22%
CR	Crane Co Industrials	Reduced	46,626	-7,775	$7,973,046	−20.5%	$192.01	0.19%
UNP	Union Pacific Corp Industrials	Added	27,638	+2,654	$6,705,531	+16.0%	$244.86	0.16%
COST	Costco Wholesale Corp /New Consumer Defensive	Held	4,624	0	$4,607,492	+15.5%	$974.50	0.11%
DOV	DOVER Corp Industrials	Reduced	19,126	-400	$3,986,814	+4.6%	$213.77	0.09%
GOOGL	Alphabet Inc. Communication Services	Reduced	11,610	-3,306	$3,338,571	−28.5%	$314.21	0.08%
ABBV	AbbVie Inc. Healthcare	Held	12,410	0	$2,699,050	−4.8%	$221.82	0.06%
VMC	Vulcan Materials CO Basic Materials	Reduced	7,263	-649	$1,977,714	−12.4%	$294.22	0.05%
AXP	American Express Co Financial Services	Reduced	6,485	-5,675	$1,961,582	−56.4%	$335.29	0.05%
MKC	Mccormick & Co Inc Consumer Defensive	Reduced	38,581	-2,085	$1,946,025	−29.7%	$63.69	0.05%
WRBY	Warby Parker Inc. Healthcare	Added	80,000	+15,000	$1,685,600	+19.0%	$24.80	0.04%
LEVI	Levi Strauss & Co Consumer Cyclical	Added	82,725	+35,000	$1,529,585	+54.5%	$20.49	0.04%
PEP	Pepsico Inc Consumer Defensive	Reduced	9,205	-589	$1,429,444	+1.7%	$155.82	0.03%
PG	PROCTER & GAMBLE Co Consumer Defensive	Reduced	9,229	-2,722	$1,333,036	−22.2%	$151.60	0.03%
MSFT	Microsoft Corp Technology	Reduced	3,544	-161	$1,311,882	−26.8%	$418.44	0.03%
WMT	Walmart Inc. Consumer Defensive	Reduced	9,740	-425	$1,210,487	+6.9%	$122.77	0.03%
AAPL	Apple Inc. Technology	Added	4,751	+77	$1,205,756	−5.1%	$260.25	0.03%
ABT	Abbott Laboratories Healthcare	Held	11,510	0	$1,181,731	−18.1%	$112.91	0.03%
FULT	Fulton Financial Corp Financial Services	Reduced	48,950	-5,150	$995,643	−4.8%	$20.60	0.02%
KO	Coca Cola Co Consumer Defensive	Reduced	13,025	-615	$990,551	+3.9%	$75.60	0.02%
JBTM	JBT MAREL Corp Industrials	Held	7,250	0	$927,057	−15.1%	$151.22	0.02%
YETI	YETI Holdings, Inc. Consumer Cyclical	Held	24,000	0	$878,160	−17.2%	$44.00	0.02%
FBLA	FB Bancorp, Inc. /MD/ Financial Services	Held	50,000	0	$687,000	+6.9%	$13.19	0.02%
LAMR	Lamar Advertising Co/New Real Estate	Reduced	5,368	-606	$679,910	−10.1%	$131.03	0.02%
HRI	Herc Holdings Inc Industrials	Held	6,450	0	$642,097	−32.9%	$142.68	0.02%
WFC	Wells Fargo & Company/Mn Financial Services	Reduced	7,450	-514	$593,094	−20.1%	$85.89	0.01%
SWZ	Total Return Securities Fund	Reduced	97,667	-48,617	$579,165	−36.3%	$6.07	0.01%
ORCL	Oracle Corp Technology	Added	3,600	+125	$529,596	−21.8%	$162.55	0.01%
CVX	Chevron Corp Energy	Reduced	2,470	-200	$511,043	+25.6%	$182.35	0.01%
GNRC	Generac Holdings Inc. Industrials	Held	2,250	0	$439,492	+43.2%	$192.02	0.01%
HRL	Hormel Foods Corp /De/ Consumer Defensive	Reduced	19,000	-835	$430,350	−8.5%	$23.90	0.01%
OUT	OUTFRONT Media Inc. Real Estate	Reduced	13,588	-2,089	$360,082	−4.7%	$26.06	0.01%
CAT	Caterpillar Inc Industrials	Reduced	450	-100	$318,807	+1.2%	$692.61	0.01%
JNJ	Johnson & Johnson Healthcare	Added	1,304	+328	$318,749	+57.8%	$232.92	0.01%
MCD	Mcdonalds Corp Consumer Cyclical	Added	947	+42	$294,318	+6.4%	$318.58	0.01%
UNM	Unum Group Financial Services	Held	3,800	0	$277,514	−5.8%	$74.64	0.01%