Thomas Russo Portfolio Concentration Analysis: Top Holdings & Share Changes

As of March 31, 2026, Thomas Russo's portfolio at Gardner Russo & Quinn shows significant concentration in a select group of stocks. The analysis reveals that the top ten holdings account for a substantial portion of the total portfolio value, demonstrating a concentrated investment approach.

The largest position is Berkshire Hathaway Inc Cl A (BRK-A), holding 1,460 shares worth approximately $1.05 billion, representing 12.34% of the total portfolio. This investment saw a slight decrease in shares (-81 shares) and value (-5.26%) compared to the previous period.

Alphabet Inc Cl C (GOOG) is the second-largest holding, with 3,350,337 shares valued at $961 million (11.31% allocation). This position experienced the most significant reduction in shares (-1,299,586 shares) and value (-27.95%) during the period.

Mastercard Inc Cl A (MA) follows with a substantial position of 1,555,141 shares worth $777 million (9.15% allocation). The shares decreased by 65,131 (-4.02%) and value during the reporting period.

Philip Morris International Inc (PM) holds the fourth-largest allocation at 8.96%, with 4,605,069 shares valued at $761 million. This position saw a modest decrease in shares (-57,132) and value (-1.23%).

Heineken Holding NV (HKHHF) is another significant holding at 7.57% allocation, with 9,101,528 shares valued at $643 million. The position experienced a small decrease in shares (-184,378) and value (-1.99%).

Compagnie Financiere Richemont (CFRHF) holds a 7.0% allocation, with 3,447,287 shares valued at $594 million. The position saw a decrease in shares (-156,705) and value (-4.35%).

Nestle SA Sponsored ADR (NSRGY) represents 6.39% of the portfolio, with 5,481,714 shares valued at $543 million. This position also saw a decrease in shares (-296,946) and value (-5.14%).

Netflix Inc (NFLX) shows a significant increase, jumping to the seventh-largest position with a 6.35% allocation. The position saw an enormous increase in shares (+5,096,241) and value (+990.67%), making it the most active position in terms of share changes.

Berkshire Hathaway Inc Cl B (BRK-B) holds a 6.26% allocation, with 1,110,429 shares valued at $532 million. This position experienced a decrease in shares (-50,965) and value (-4.39%).

Martin Marietta Materials (MLM) completes the top ten holdings with a 4.96% allocation, holding 715,411 shares valued at $421 million. This position saw an increase in shares (+27,874) and value (+4.05%).

Thomas Russo's portfolio demonstrates a clear concentration in large-cap, established companies across sectors like Financial Services, Communication Services, and Consumer Defensive. The significant changes in share positions, particularly the substantial increase in Netflix and decreases in several large holdings, reflect active management of these concentrated positions.