Thomas Russo - Gardner Russo & Quinn Investment Strategy & Portfolio Analysis

As of Mar 31, 2026, Thomas Russo's Gardner Russo & Quinn portfolio reflects a concentrated approach across 78 reported 13F positions. Portfolio returns are primarily driven by a small set of mega-cap compounders, with the top five holdings accounting for approximately 52% of total exposure and Berkshire Hathaway alone contributing ~13%. While the portfolio includes 78 positions, economic outcomes are highly concentrated in a narrow set of large-cap financial names. Exposure to high-growth and technology-oriented segments remains limited relative to peers, with performance instead anchored in durable, cash-generating businesses across financials, communication services, and unknown. The portfolio exhibits extremely low turnover, reinforcing a long-term capital allocation approach centered on high-conviction, long-duration holdings. Distinctive traits include Long-Term Holder, Structurally Diversified.