Tracking Gardner Russo & Quinn Portfolio – Q1 2024 Update

 

• Gardner Russo & Quinn’s 13F portfolio value decreased from $9.81B to $9.75B.
• Russo decreased most positions while increasing Pernod Ricard (PRNDY) and Uber Technologies (UBER).
• The top three 13F stakes are Berkshire Hathaway (BRK.A), Alphabet (GOOG), and MasterCard (MA). They add up to ~35% of the portfolio.

 

This article is part of a series that provides an ongoing analysis of the changes made to Gardner Russo & Quinn’s 13F stock portfolio on a quarterly basis. It is based on Russo’s regulatory 13F Form filed on 5/15/2024. Please visit our Tracking Gardner Russo & Quinn Portfolio series to get an idea of their investment philosophy and our last update for their moves during Q4 2023.

 This quarter, Gardner Russo & Quinn’s 13F stock portfolio value decreased from $9.81B to $9.75B. The top three holdings are at ~35% of the portfolio while the top five are at ~50% of the assets: Berkshire Hathaway, Alphabet, MasterCard, Nestle, and Compagnie Financière Richemont. Recent 13F reports have shown around 100 positions with around 18 stakes that are significantly large. The focus of this article is on the larger positions.

Note: Russo’s portfolio on its own should not be viewed as an overall asset allocation plan as his clients look at his firm to allocate a portion of their assets to his focus area (global equities with consumer orientation).

The spreadsheet below highlights changes to Gardner Russo & Quinn’s 13F stock holdings in Q1 2024:

 

 

 

Source: John Vincent. Data constructed from Gardner Russo & Quinn’s 13F filings for Q4 2023 and Q1 2024.