Thomas Russo Q1 2026 Portfolio Update: Major Netflix Purchase and Financial Sector Sales
Thomas Russo's Gardner Russo & Quinn portfolio saw significant changes in Q1 2026, featuring a notable increase in Netflix holdings and reductions in several major financial sector stocks.
On March 31, 2026, Thomas Russo, managing director at Gardner Russo & Quinn, oversaw a quarter marked by both strategic additions and reductions within his portfolio. The disclosed portfolio, valued at approximately $8.1 billion, showed distinct activity across several key holdings.
The most significant observable purchase during this quarter was the substantial increase in holdings of Netflix Inc (NFLX). Russo's position in the streaming giant surged by an astonishing 990.67%, adding over 5 million additional shares. This represents a major allocation shift towards the entertainment sector and highlights a strong conviction in the company's prospects for this quarter.
Conversely, the quarter also featured notable sales, primarily within the Financial Services sector. Berkshire Hathaway (BRK-A) saw its share count decrease by 5.26%, while Alphabet (GOOG) experienced a sharp reduction of 27.95%. Mastercard (MA) and Philip Morris International (PM) also reported significant declines in their share counts, down by 4.02% and 1.23% respectively.
Russo also disposed of other substantial positions during the quarter. Holdings in Heineken (HKHHF), Richemont (CFRHF), and Nestle (NSRGY) all decreased, with share reductions of 1.99%, 4.35%, and 5.14% respectively. Additionally, a position in Martin Marietta Materials (MLM) saw an increase, albeit more modestly, with a 4.05% rise in shares.
No purchases of stocks outside the disclosed top holdings were indicated. Furthermore, no new positions were disclosed in this filing, and no previously held positions appear to have been fully exited during this quarter.