GARDNER RUSSO & QUINN LLC

Superinvestor · Tom Russo

CIK

860643

Location

LANCASTER, PA

Portfolio Value

Mid $4,205,910,828

Diversification

Diversified

Filing Date

Global Rank

#757 / 8,605 ▲ 23 · as of Mar 2026

Top Industry

Credit Services 19.2%

3Y Alpha vs SPY

-6.6%

Period ended 3 months ago

Filed May 13, 2026 · 57d

25 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+47.8%

SPY

+76.5%

Annualised alpha

-7.0%

Max drawdown

−10.4%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

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

Top Position

18.5%

−3.2 pts

Top 5

72.1%

−3.1 pts

Top 10

96.4%

−0.5 pts

HHI

1,278

Diversified−88

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Financial Services	33.2%	$1,395,280,620	10
Consumer Defensive	19.7%	$828,348,925	10
Communication Services	14.4%	$607,733,367	4
Basic Materials	10.1%	$423,125,861	2
Industrials	9.9%	$414,730,910	8
Technology	8.9%	$375,170,183	4
Consumer Cyclical	3.6%	$153,248,092	5
Healthcare	0.1%	$6,142,670	5
Real Estate	0.0%	$1,039,992	2
Unclassified	0.0%	$579,165	1
Energy	0.0%	$511,043	1

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

11 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
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

52 positions · $4,205,910,828 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 52 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	18.47%
PM	Philip Morris International Inc. Consumer Defensive	Reduced	4,605,069	-92,439	$761,402,108	+1.1%	$173.77	18.10%
NFLX	Netflix Inc Communication Services	Added	5,610,666	+605,901	$539,465,535	+15.0%	$88.11	12.83%
BRK-B	Berkshire Hathaway Inc Financial Services	Reduced	1,110,429	-14,966	$532,117,576	−5.9%	$490.90	12.65%
MLM	Martin Marietta Materials Inc Basic Materials	Reduced	715,411	-11,201	$421,148,147	−6.9%	$638.17	10.01%
SUNB	Sunbelt Rentals Holdings, Inc. Industrials	NEW	6,049,133	NEW	$393,738,066	NEW	$70.19	9.36%
UBER	Uber Technologies, Inc Technology	Added	5,173,404	+28,344	$372,122,949	−11.5%	$76.97	8.85%
DASH	DoorDash, Inc. Consumer Cyclical	Added	1,001,195	+70,728	$150,329,429	−28.7%	$184.78	3.57%
CMCSA	Comcast Corp Communication Services	Reduced	2,253,106	-47,091	$64,686,673	+0.4%	$29.89	1.54%
BF-A	Brown Forman Corp Consumer Defensive	Reduced	1,647,878	-20,216	$44,146,651	+0.6%	$27.21	1.05%
JPM	Jpmorgan Chase & Co Financial Services	Reduced	148,798	-380,019	$43,770,419	−74.3%	$303.48	1.04%
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	0.23%
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%
MRK	Merck & Co., Inc. Healthcare	NEW	2,141	NEW	$257,540	NEW	$115.45	0.01%