Insights into Tom Russo (Trades, Portfolio)'s Latest 13F Filing and Its Impact on Key Holdings
Tom Russo (Trades, Portfolio), the Managing Member of Gardner Russo & Quinn LLC, has made significant adjustments to his investment portfolio in the second quarter of 2024. With a focus on long-term, global value equity investments, Russo manages over $8 billion in assets. His investment strategy prioritizes companies with robust cash-flow characteristics and strong balance sheets, aiming for high returns on invested capital.
New Additions to the Portfolio
During the second quarter, Tom Russo (Trades, Portfolio) expanded his portfolio by adding two new stocks:
- DoorDash Inc (DASH, Financial) was the primary new addition with 716,388 shares, making up 0.82% of the portfolio, valued at approximately $77.93 million.
- Carlisle Companies Inc (CSL, Financial) was a smaller addition, with 500 shares valued at about $202,610.
Significant Increases in Existing Positions
Russo also increased his stakes in 19 existing stocks, with notable increases in:
- Pernod Ricard SA (PDRDF, Financial), where he added 281,674 shares, bringing his total to 3,305,294 shares. This adjustment increased his share count by 9.32% and had a 0.4% impact on his current portfolio, totaling $448.83 million.
- Uber Technologies Inc (UBER, Financial), with an additional 344,484 shares, bringing his total to 3,644,712 shares. This represents a 10.44% increase in share count, valued at $264.90 million.
Complete Exits from Certain Holdings
In the same quarter, Tom Russo (Trades, Portfolio) decided to exit completely from six holdings:
- Cable One Inc (CABO, Financial), selling all 11,681 shares, impacting the portfolio by -0.05%.
- Unilever PLC (UL, Financial), liquidating all 15,167 shares, with a -0.01% impact on the portfolio.
Reductions in Key Positions
Furthermore, Russo reduced his positions in 39 stocks. The most significant reductions include:
- Alphabet Inc (GOOG, Financial), with a reduction of 851,066 shares, resulting in a -12.05% decrease in shares and a -1.33% impact on the portfolio. Alphabet's stock traded at an average price of $170.1 during the quarter and has seen a return of -2.81% over the past three months and 17.86% year-to-date.
- Netflix Inc (NFLX, Financial), with a reduction of 92,013 shares, leading to a -10.53% decrease in shares and a -0.57% impact on the portfolio. Netflix traded at an average price of $624.55 during the quarter, with a return of 5.12% over the past three months and 33.13% year-to-date.
Portfolio Overview and Sector Allocation
As of the second quarter of 2024, Tom Russo (Trades, Portfolio)'s portfolio included 77 stocks. The top holdings were 13.67% in Berkshire Hathaway Inc (BRK.A, Financial), 12.03% in Alphabet Inc (GOOG), 9.58% in Mastercard Inc (MA, Financial), 7.86% in Nestle SA (NSRGY, Financial), and 7.7% in Compagnie Financiere Richemont SA (CFRHF, Financial). The holdings are mainly concentrated across 10 industries, excluding only Utilities.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
