What stocks does Thomas Russo own?

As of 2026Q2, Thomas Russo's 13F discloses 85 positions worth $8.93B. The top five holdings: GOOG (12.1%), BRK/A (12.0%), PM (9.2%), MA (8.8%). 13F filings cover long US-listed equities only — cash, bonds, shorts, and non-US positions are not disclosed.

What did Thomas Russo buy this quarter?

In 2026Q2, the filing shows 1 new position and 1 addition to existing holdings. The largest positions touched by buying: XOM.

How big is Thomas Russo's portfolio?

$8.93B across 85 positions per the latest 13F (filed Aug 13, 2026). The top five holdings account for 51% of the disclosed book.

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Thomas Russo portfolio & holdings

Gardner Russo & Quinn

$8.93B

disclosed 13F portfolio · 85 positions

top-5 concentration51%

Q2 2026 · filed Aug 13, 2026

Historical clone performance and limitations

Cloning this 13F returned8.2%/yrvs the S&P 500's13.7%/yrover the same 12.2 years· why →

Thomas Russo (Gardner Russo & Quinn) discloses a $8.93B portfolio across 85 US-listed positions in the latest 13F filing (2026Q2, filed Aug 13, 2026). The largest holding is GOOG at 12.1% of the book.

A material reported change · Q2 2026

Thomas Russo reduced reported JPM shares by 83.4%.

Holdings as of Jun 30, 2026 · filed Aug 13, 2026. Position at period end: 0.1% of the reported portfolio. The filing does not reveal the trade date, price, or reason.

Read the SEC filing ↗See the change in context →

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Holdings (85) · click any column to sort

#↑	Ticker	Issuer	% Port.	This Q	History	Value
1	GOOG	Alphabet Inc-cl C	12.1%		40q held	$1.08B
2	BRK/A	Berkshire Hathaway Inc-cl A	12.0%		40q held	$1.07B
3	PM	Philip Morris International	9.2%		40q held	$820M
4	MA	Mastercard Inc - A	8.8%		40q held	$782M
5	H25662182	Compagnie Financiere Richemont	8.7%		40q held	$774M
6	N39338194	Heineken Holding NV	7.6%		40q held	$680M
7	NSRGY	Nestle Sa-spons Adr	6.1%		40q held	$546M
8	BRK/B	Berkshire Hathaway Inc-cl B	6.1%		40q held	$540M
9	SUNB	Sunbelt Rentals Holdings Inc	4.9%		2q held	$441M
10	NFLX	Netflix Inc	4.6%		17q held	$408M
11	MLM	Martin Marietta Materials	4.6%		40q held	$407M
12	UBER	Uber Technologies Inc	4.1%		11q held	$367M
13	L31839134	Eurofins Scientific	3.6%	+32%	2q held	$321M
14	DASH	Doordash Inc - A	2.5%		9q held	$219M
15	F72027109	Pernod Ricard	1.9%		40q held	$172M
16	CMCSA	Comcast Corp-class A	0.6%		40q held	$54M
17	BF/A	Brown-forman Corp-class A	0.5%		40q held	$44M
18	V	Visa Inc-class A Shares	0.3%		40q held	$30M
19	XOM	Exxonmobil Holdings Corp	0.3%	New	— 1q held	$25M
20	BF/B	Brown-forman Corp-class B	0.2%		40q held	$17M
21	B639CJ108	Anheuser-busch Inbev SA	0.2%		40q held	$14M
22	MO	Altria Group Inc	0.1%		40q held	$11M
23	CR	Crane CO	0.1%		13q held	$10M
24	MKL	Markel Group Inc	0.1%		40q held	$8M
25	JPM	Jpmorgan Chase & CO	0.1%	-83%	35q held	$8M
26	UNP	Union Pacific Corp	0.1%		40q held	$7M
27	DOV	Dover Corp	<0.1%		40q held	$4M
28	GOOGL	Alphabet Inc-cl A	<0.1%		40q held	$4M
29	COST	Costco Wholesale Corp	<0.1%	-26%	40q held	$3M
30	ABBV	Abbvie Inc	<0.1%		40q held	$3M
31	WRBY	Warby Parker Inc-class A	<0.1%		6q held	$2M
32	VMC	Vulcan Materials CO	<0.1%		40q held	$2M
33	LEVI	Levi Strauss & Co- Class A	<0.1%		6q held	$2M
34	K03294137	Alk Abello A/s	<0.1%		3q held	$2M
35	MKC	Mccormick & Co-non Vtg Shrs	<0.1%		40q held	$2M
36	T3508H102	De'longhi	<0.1%		6q held	$2M
37	H49983176	Lindt & Spruengli AG - Reg	<0.1%		40q held	$2M
38	G8402N125	Ssp Group	<0.1%		6q held	$2M
39	AXP	American Express CO	<0.1%	-21%	40q held	$2M
40	K3008M105	Demant A/s	<0.1%		6q held	$2M
41	F58149133	Loreal SA	<0.1%		40q held	$2M
42	D2617N114	Fielmann	<0.1%		6q held	$2M
43	X4550J108	Konecranes	<0.1%		6q held	$2M
44	D6349P107	Rational AG	<0.1%		6q held	$2M
45	E52619108	Fluidra	<0.1%		6q held	$2M
46	B5783H102	Lotus Bakeries	<0.1%		6q held	$2M
47	MSFT	Microsoft Corp	<0.1%		40q held	$1M
48	AAPL	Apple Inc	<0.1%		35q held	$1M
49	K36628137	Carlsberg B A/s	<0.1%		25q held	$1M
50	CREST6610	Sunbelt Rentals Holdings Ord	<0.1%		2q held	$1M
51	N39427211	Heineken NV	<0.1%		40q held	$1M
52	E8S64T107	Puig Brands	<0.1%		6q held	$1M
53	PEP	Pepsico Inc	<0.1%		40q held	$1M
54	N24565108	Davide Campari-milano NV	<0.1%		25q held	$1M
55	X4S8SE108	Kalmar Oyj B	<0.1%		4q held	$1M
56	YETI	Yeti Holdings Inc	<0.1%		6q held	$1M
57	H57312649	Nestle Sa-reg	<0.1%		40q held	$1M
58	W41422101	H&m	<0.1%		6q held	$1M
59	FULT	Fulton Financial Corp	<0.1%		40q held	$1M
60	JBTM	Jbt Marel Corp	<0.1%		6q held	$1M
61	ABT	Abbott Laboratories	<0.1%		40q held	$1M
62	W2457W116	Electrolux Professional	<0.1%		6q held	$1M
63	KO	Coca-cola Co/the	<0.1%		40q held	$1M
64	PG	Procter & Gamble Co/the	<0.1%	-29%	40q held	$961K
65	WMT	Walmart Inc	<0.1%		40q held	$959K
66	HRI	Herc Holdings Inc	<0.1%		6q held	$925K
67	LAMR	Lamar Advertising Co-a	<0.1%		40q held	$837K
68	D98423102	Zalando SE	<0.1%		5q held	$812K
69	FBLA	FB Bancorp Inc	<0.1%		7q held	$753K
70	WFC	Wells Fargo & CO	<0.1%		40q held	$616K
71	SWZ	Total Return Securities Fund	<0.1%		24q held	$580K
72	HRL	Hormel Foods Corp	<0.1%		40q held	$459K
73	OUT	Outfront Media Inc	<0.1%		7q held	$445K
74	Y5342M100	LT Group Inc	<0.1%		40q held	$432K
75	CVX	Chevron Corp	<0.1%		40q held	$409K
76	ORCL	Oracle Corp	<0.1%	-25%	33q held	$398K
77	UNM	Unum Group	<0.1%		15q held	$312K
78	JNJ	Johnson & Johnson	<0.1%		6q held	$282K
79	CAT	Caterpillar Inc	<0.1%	-41%	5q held	$282K
80	MCD	Mcdonald's Corp	<0.1%		40q held	$256K
81	DIS	Walt Disney Co/the	<0.1%		40q held	$240K
82	AMZN	Amazon.com Inc	<0.1%		4q held	$223K
83	MRK	Merck & Co. Inc.	<0.1%	-23%	29q held	$211K
84	T19404101	Cofide Spa	<0.1%		16q held	$200K
85	Y7121Z146	Hanjaya Mandala Sampoerna	<0.1%		40q held	$187K

Sort↑

1GOOG
port12.1%
val$1.08B
Alphabet Inc-cl C
this Q hold·40q
2BRK/A
port12.0%
val$1.07B
Berkshire Hathaway Inc-cl A
this Q hold·40q
3PM
port9.2%
val$820M
Philip Morris International
this Q hold·40q
4MA
port8.8%
val$782M
Mastercard Inc - A
this Q hold·40q
5H25662182
port8.7%
val$774M
Compagnie Financiere Richemont
this Q hold·40q
6N39338194
port7.6%
val$680M
Heineken Holding NV
this Q hold·40q
7NSRGY
port6.1%
val$546M
Nestle Sa-spons Adr
this Q hold·40q
8BRK/B
port6.1%
val$540M
Berkshire Hathaway Inc-cl B
this Q hold·40q
9SUNB
port4.9%
val$441M
Sunbelt Rentals Holdings Inc
this Q hold·2q
10NFLX
port4.6%
val$408M
Netflix Inc
this Q hold·17q
11MLM
port4.6%
val$407M
Martin Marietta Materials
this Q hold·40q
12UBER
port4.1%
val$367M
Uber Technologies Inc
this Q hold·11q
13L31839134
port3.6%
val$321M
Eurofins Scientific
this Q +32%·2q
14DASH
port2.5%
val$219M
Doordash Inc - A
this Q hold·9q
15F72027109
port1.9%
val$172M
Pernod Ricard
this Q hold·40q
16CMCSA
port0.6%
val$54M
Comcast Corp-class A
this Q hold·40q
17BF/A
port0.5%
val$44M
Brown-forman Corp-class A
this Q hold·40q
18V
port0.3%
val$30M
Visa Inc-class A Shares
this Q hold·40q
19XOM
port0.3%
val$25M
Exxonmobil Holdings Corp
this Q New·—1q
20BF/B
port0.2%
val$17M
Brown-forman Corp-class B
this Q hold·40q
21B639CJ108
port0.2%
val$14M
Anheuser-busch Inbev SA
this Q hold·40q
22MO
port0.1%
val$11M
Altria Group Inc
this Q hold·40q
23CR
port0.1%
val$10M
Crane CO
this Q hold·13q
24MKL
port0.1%
val$8M
Markel Group Inc
this Q hold·40q
25JPM
port0.1%
val$8M
Jpmorgan Chase & CO
this Q -83%·35q
26UNP
port0.1%
val$7M
Union Pacific Corp
this Q hold·40q
27DOV
port<0.1%
val$4M
Dover Corp
this Q hold·40q
28GOOGL
port<0.1%
val$4M
Alphabet Inc-cl A
this Q hold·40q
29COST
port<0.1%
val$3M
Costco Wholesale Corp
this Q -26%·40q
30ABBV
port<0.1%
val$3M
Abbvie Inc
this Q hold·40q
31WRBY
port<0.1%
val$2M
Warby Parker Inc-class A
this Q hold·6q
32VMC
port<0.1%
val$2M
Vulcan Materials CO
this Q hold·40q
33LEVI
port<0.1%
val$2M
Levi Strauss & Co- Class A
this Q hold·6q
34K03294137
port<0.1%
val$2M
Alk Abello A/s
this Q hold·3q
35MKC
port<0.1%
val$2M
Mccormick & Co-non Vtg Shrs
this Q hold·40q
36T3508H102
port<0.1%
val$2M
De'longhi
this Q hold·6q
37H49983176
port<0.1%
val$2M
Lindt & Spruengli AG - Reg
this Q hold·40q
38G8402N125
port<0.1%
val$2M
Ssp Group
this Q hold·6q
39AXP
port<0.1%
val$2M
American Express CO
this Q -21%·40q
40K3008M105
port<0.1%
val$2M
Demant A/s
this Q hold·6q
41F58149133
port<0.1%
val$2M
Loreal SA
this Q hold·40q
42D2617N114
port<0.1%
val$2M
Fielmann
this Q hold·6q
43X4550J108
port<0.1%
val$2M
Konecranes
this Q hold·6q
44D6349P107
port<0.1%
val$2M
Rational AG
this Q hold·6q
45E52619108
port<0.1%
val$2M
Fluidra
this Q hold·6q
46B5783H102
port<0.1%
val$2M
Lotus Bakeries
this Q hold·6q
47MSFT
port<0.1%
val$1M
Microsoft Corp
this Q hold·40q
48AAPL
port<0.1%
val$1M
Apple Inc
this Q hold·35q
49K36628137
port<0.1%
val$1M
Carlsberg B A/s
this Q hold·25q
50CREST6610
port<0.1%
val$1M
Sunbelt Rentals Holdings Ord
this Q hold·2q
51N39427211
port<0.1%
val$1M
Heineken NV
this Q hold·40q
52E8S64T107
port<0.1%
val$1M
Puig Brands
this Q hold·6q
53PEP
port<0.1%
val$1M
Pepsico Inc
this Q hold·40q
54N24565108
port<0.1%
val$1M
Davide Campari-milano NV
this Q hold·25q
55X4S8SE108
port<0.1%
val$1M
Kalmar Oyj B
this Q hold·4q
56YETI
port<0.1%
val$1M
Yeti Holdings Inc
this Q hold·6q
57H57312649
port<0.1%
val$1M
Nestle Sa-reg
this Q hold·40q
58W41422101
port<0.1%
val$1M
H&m
this Q hold·6q
59FULT
port<0.1%
val$1M
Fulton Financial Corp
this Q hold·40q
60JBTM
port<0.1%
val$1M
Jbt Marel Corp
this Q hold·6q
61ABT
port<0.1%
val$1M
Abbott Laboratories
this Q hold·40q
62W2457W116
port<0.1%
val$1M
Electrolux Professional
this Q hold·6q
63KO
port<0.1%
val$1M
Coca-cola Co/the
this Q hold·40q
64PG
port<0.1%
val$961K
Procter & Gamble Co/the
this Q -29%·40q
65WMT
port<0.1%
val$959K
Walmart Inc
this Q hold·40q
66HRI
port<0.1%
val$925K
Herc Holdings Inc
this Q hold·6q
67LAMR
port<0.1%
val$837K
Lamar Advertising Co-a
this Q hold·40q
68D98423102
port<0.1%
val$812K
Zalando SE
this Q hold·5q
69FBLA
port<0.1%
val$753K
FB Bancorp Inc
this Q hold·7q
70WFC
port<0.1%
val$616K
Wells Fargo & CO
this Q hold·40q
71SWZ
port<0.1%
val$580K
Total Return Securities Fund
this Q hold·24q
72HRL
port<0.1%
val$459K
Hormel Foods Corp
this Q hold·40q
73OUT
port<0.1%
val$445K
Outfront Media Inc
this Q hold·7q
74Y5342M100
port<0.1%
val$432K
LT Group Inc
this Q hold·40q
75CVX
port<0.1%
val$409K
Chevron Corp
this Q hold·40q
76ORCL
port<0.1%
val$398K
Oracle Corp
this Q -25%·33q
77UNM
port<0.1%
val$312K
Unum Group
this Q hold·15q
78JNJ
port<0.1%
val$282K
Johnson & Johnson
this Q hold·6q
79CAT
port<0.1%
val$282K
Caterpillar Inc
this Q -41%·5q
80MCD
port<0.1%
val$256K
Mcdonald's Corp
this Q hold·40q
81DIS
port<0.1%
val$240K
Walt Disney Co/the
this Q hold·40q
82AMZN
port<0.1%
val$223K
Amazon.com Inc
this Q hold·4q
83MRK
port<0.1%
val$211K
Merck & Co. Inc.
this Q -23%·29q
84T19404101
port<0.1%
val$200K
Cofide Spa
this Q hold·16q
85Y7121Z146
port<0.1%
val$187K
Hanjaya Mandala Sampoerna
this Q hold·40q

2026Q2 moves, by size (11)(expand ↓)

Ticker	Issuer	Move	% Port.	Δ Shares	Value
L31839134	Eurofins Scientific	ADD	3.6%	+32%	$321M
JPM	Jpmorgan Chase & CO	TRIM	0.1%	-83%	$8M
XOM	Exxon Mobil Corp	EXIT	0.4%	-100%	$0
XOM	Exxonmobil Holdings Corp	NEW	0.3%	+100%	$25M
COST	Costco Wholesale Corp	TRIM	<0.1%	-26%	$3M
AXP	American Express CO	TRIM	<0.1%	-21%	$2M
PG	Procter & Gamble Co/the	TRIM	<0.1%	-29%	$961K
ORCL	Oracle Corp	TRIM	<0.1%	-25%	$398K
GNRC	Generac Holdings Inc	EXIT	<0.1%	-100%	$0
CAT	Caterpillar Inc	TRIM	<0.1%	-41%	$282K
MRK	Merck & Co. Inc.	TRIM	<0.1%	-23%	$211K

ADDL31839134
3.6%
Eurofins Scientific
Δ +32%·$321M
TRIMJPM
0.1%
Jpmorgan Chase & CO
Δ -83%·$8M
EXITXOM
0.4%
Exxon Mobil Corp
Δ -100%·$0
NEWXOM
0.3%
Exxonmobil Holdings Corp
Δ +100%·$25M
TRIMCOST
<0.1%
Costco Wholesale Corp
Δ -26%·$3M
TRIMAXP
<0.1%
American Express CO
Δ -21%·$2M
TRIMPG
<0.1%
Procter & Gamble Co/the
Δ -29%·$961K
TRIMORCL
<0.1%
Oracle Corp
Δ -25%·$398K
EXITGNRC
<0.1%
Generac Holdings Inc
Δ -100%·$0
TRIMCAT
<0.1%
Caterpillar Inc
Δ -41%·$282K
TRIMMRK
<0.1%
Merck & Co. Inc.
Δ -23%·$211K

About Thomas Russo

Thomas Russo runs Gardner Russo & Quinn, a Lancaster, Pennsylvania-based long-only equity manager overseeing roughly $8.5 billion across a relatively focused book — the top five positions account for roughly half the portfolio. His approach is often described as global value with a consumer-franchise emphasis: he has spent decades building positions in capital-light, brand-driven businesses — tobacco, payments, media — that can compound reinvestment across international markets, a quality he calls the "capacity to suffer" (willingness to accept near-term earnings drag for long-run brand-building abroad). Berkshire Hathaway, Alphabet, Mastercard, and Philip Morris International have been persistent core holdings. Because Russo runs a straightforward long-only, no-derivatives book, his 13F reflects actual economic exposure with reasonable fidelity, subject only to the standard 45-day disclosure lag. The long-run excess-return record versus SPY is modestly negative on a cloned basis, which is consistent with a manager whose edge is framed around after-tax compounding and international consumer exposure rather than index-beating domestic momentum.

2026Q2 brief

Thomas Russo's Gardner Russo & Quinn ($8.93B, 85 positions) remains one of the most static portfolios among super-investors — and that's the point. The headline this quarter is a meaningful add to Eurofins Scientific (+32% to 3.6% of portfolio), a vote of confidence in the global testing and lab services compounder that fits squarely in Russo's playbook of owning patient-capital-friendly, globally scaled businesses with pricing power. The near-total liquidation of JPM (-83% to a rounding-error 0.09%) signals a near-complete exit from U.S. financials, consistent with Russo's long-standing preference for owner-operated global consumer franchises over domestic cyclicals. The recycled XOM situation is curious — the prior XOM position (0.39%) was exited and a new one initiated at 0.28% in the same quarter, likely a tax-loss or restructuring event rather than a conviction change. Core anchors GOOG (12.1%), BRK/A+B (combined ~18%), PM (9.2%), MA (8.8%), and Compagnie Financière (8.7%) are unchanged, confirming Russo's trademark reluctance to trade. Watch whether Eurofins continues to grow toward a top-five position in Q3.

AI-generated. Not investment advice.

Filing history

Thomas Russo's disclosed 13F portfolio value and position count by quarter — the trajectory across every SEC filing.

Disclosed portfolio value · Q3 2023 – Q2 2026now $8.93B · peak $9.81B (Q4 2023)

Quarter	Positions	Portfolio value
Q2 2026 — what changed →	85	$8.93B
Q1 2026 — what changed →	86	$8.50B
Q4 2025 — what changed →	87	$9.26B
Q3 2025 — what changed →	85	$9.33B
Q2 2025 — what changed →	85	$9.41B
Q1 2025 — what changed →	86	$8.92B
Q4 2024 holdings	68	$8.85B
Q3 2024 holdings	77	$9.74B
Q2 2024 holdings	77	$9.47B
Q1 2024 holdings	81	$9.75B
Q4 2023 holdings	82	$9.81B
Q3 2023 holdings	82	$9.17B

Values as disclosed at each quarter end. Older filings on EDGAR.

Manager evidence

5 material decisions, preserved in sequence.

See what Thomas Russo bought, added, trimmed, or exited across eight quarters—plus disclosure lag, SEC sources, and observed outcomes versus SPY. No guru grade.

Open Thomas Russo's decision evidence →

Frequently asked questions

What stocks does Thomas Russo own?: As of 2026Q2, Thomas Russo's 13F discloses 85 positions worth $8.93B. The top five holdings: GOOG (12.1%), BRK/A (12.0%), PM (9.2%), MA (8.8%). 13F filings cover long US-listed equities only — cash, bonds, shorts, and non-US positions are not disclosed.
What did Thomas Russo buy this quarter?: In 2026Q2, the filing shows 1 new position and 1 addition to existing holdings. The largest positions touched by buying: XOM.
How big is Thomas Russo's portfolio?: $8.93B across 85 positions per the latest 13F (filed Aug 13, 2026). The top five holdings account for 51% of the disclosed book.

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Long US equity 13F-HR filings only — no shorts, no derivatives. SEC filings at EDGAR (CIK 0000860643). Not investment advice.