GARDNER RUSSO & QUINN LLC
Reported holdings as of Q2 2026, from 31 quarterly filings.
Holdings
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| Security | Ticker | Value | Shares | Weight | Weight change | Held | Change |
|---|---|---|---|---|---|---|---|
| ALPHABET INC | GOOG | $1.1B | 3,048,077 | +0.75pp | 31q | -9.0%-$106.8M | |
| BERKSHIRE HATHAWAY INC DEL | BRKA | $1.1B | 1,432 | -0.33pp | 31q | -1.9%-$21.0M | |
| PHILIP MORRIS INTL INC | PM | $819.7M | 4,530,846 | +0.22pp | 31q | -1.6%-$13.4M | |
| MASTERCARD INCORPORATED | MA | $781.9M | 1,522,395 | -0.39pp | 31q | -2.1%-$16.8M | |
| CIE FINANCI-REG | $773.7M | 3,345,346 | +1.67pp | 31q | -3.0%-$23.6M | ||
| HEINEKEN HLDG | $679.6M | 8,905,683 | +0.04pp | 31q | -2.2%-$14.9M | ||
| NESTLE SA SPONSORED ADR | NSRGY | $545.8M | 5,314,898 | -0.28pp | 31q | -3.0%-$17.1M | |
| BERKSHIRE HATHAWAY INC DEL | BRKB | $540.1M | 1,079,364 | -0.21pp | 31q | -2.8%-$15.5M | |
| SUNBELT RENTALS HOLDINGS INC | SUNB | $441.2M | 5,897,825 | +0.31pp | 2q | -2.5%-$11.3M | |
| NETFLIX INC. | NFLX | $407.7M | 5,710,088 | -1.78pp | 17q | +1.8%+$7.1M | |
| MARTIN MARIETTA MATLS INC | MLM | $406.8M | 705,367 | -0.40pp | 31q | -1.4%-$5.8M | |
| UBER TECHNOLOGIES INC | UBER | $366.9M | 5,084,015 | -0.27pp | 11q | -1.7%-$6.5M | |
| EUROFINS SCIENTIFIC SE ACT | $320.9M | 4,094,034 | +0.96pp | 2q | +32.2%+$78.2M | ||
| DOORDASH INC | DASH | $218.9M | 1,186,104 | +0.68pp | 9q | +18.5%+$34.1M | |
| PERNOD RICARD SA | $171.7M | 2,351,360 | -0.24pp | 31q | -5.2%-$9.4M | ||
| COMCAST CORP NEW | CMCSA | $53.9M | 2,193,660 | -0.16pp | 31q | -2.6%-$1.5M | |
| BROWN FORMAN CORP | BFA | $43.7M | 1,597,815 | -0.03pp | 31q | -3.0%-$1.4M | |
| VISA INC | V | $29.9M | 87,256 | flat | 31q | -7.0%-$2.2M | |
| EXXONMOBIL HOLDINGS CORP | XOM | $24.8M | 181,200 | - | new | NEW | |
| BROWN FORMAN CORP | BFB | $17.0M | 639,282 | -0.01pp | 31q | -3.1%-$544.0K | |
| ANHEUSER-BUSCH INBEV SA/NV | $14.2M | 171,294 | +0.01pp | 31q | -6.9%-$1.1M | ||
| ALTRIA GROUP INC | MO | $10.7M | 148,603 | -0.01pp | 31q | -9.6%-$1.1M | |
| CRANE COMPANY | CR | $9.8M | 43,937 | +0.02pp | 13q | -5.8%-$599.8K | |
| MARKEL GROUP INC | MKL | $8.3M | 4,265 | -0.02pp | 31q | -13.9%-$1.3M | |
| JPMORGAN CHASE & CO | JPM | $8.1M | 24,719 | -0.42pp | 31q | -83.4%-$40.6M | |
| UNION PAC CORP | UNP | $7.0M | 25,841 | flat | 31q | -6.5%-$488.8K | |
| DOVER CORP | DOV | $4.2M | 18,851 | flat | 31q | -1.4%-$61.7K | |
| ALPHABET INC | GOOGL | $4.0M | 11,114 | +0.01pp | 31q | -4.3%-$177.3K | |
| COSTCO WHOLESALE CORPORATION | COST | $3.2M | 3,399 | -0.02pp | 31q | -26.5%-$1.1M | |
| ABBVIE INC | ABBV | $3.1M | 12,410 | flat | 31q | HELD | |
| WARBY PARKER INC | WRBY | $2.4M | 80,000 | +0.01pp | 6q | HELD | |
| VULCAN MATLS CO | VMC | $2.1M | 7,263 | flat | 31q | HELD | |
| LEVI STRAUSS & CO NEW | LEVI | $2.1M | 83,725 | +0.01pp | 6q | +1.2%+$24.8K | |
| ALK Abello A/S | $2.0M | 53,000 | flat | 3q | +6.0%+$112.1K | ||
| MCCORMICK & CO INC | MKC | $1.9M | 37,981 | flat | 31q | -1.6%-$30.3K | |
| De'Longhi | $1.8M | 42,700 | flat | 6q | +9.5%+$157.1K | ||
| Lindt & Spruengli AG - Reg | $1.8M | 15 | -0.01pp | 31q | HELD | ||
| SSP Group | $1.7M | 700,000 | flat | 6q | HELD | ||
| AMERICAN EXPRESS CO | AXP | $1.7M | 5,125 | flat | 31q | -21.0%-$460.0K | |
| DEMANT A S SHS | $1.7M | 41,000 | flat | 6q | HELD | ||
| L OREAL ORDF | $1.6M | 3,705 | flat | 31q | HELD | ||
| Fielmann | $1.6M | 33,000 | flat | 6q | HELD | ||
| Konecranes | $1.6M | 52,500 | flat | 6q | HELD | ||
| RATIONAL AG | $1.6M | 2,200 | flat | 6q | HELD | ||
| FLUIDRA SA EUR1 ISIN ES0137650018 SEDOL B28V440 | $1.6M | 70,000 | flat | 6q | HELD | ||
| Lotus Bakeries | $1.5M | 115 | flat | 6q | HELD | ||
| MICROSOFT CORP | MSFT | $1.3M | 3,584 | flat | 31q | +1.1%+$14.9K | |
| APPLE INC | AAPL | $1.3M | 4,601 | flat | 31q | -3.2%-$43.4K | |
| Carlsberg A/S | $1.3M | 10,135 | flat | 25q | +2.7%+$34.5K | ||
| Sunbelt Rentals Holdings ORD | $1.3M | 18,178 | flat | 2q | HELD | ||
| Heineken | $1.3M | 15,131 | flat | 31q | HELD | ||
| Puig Brands | $1.3M | 68,000 | flat | 6q | HELD | ||
| PEPSICO INC | PEP | $1.2M | 9,115 | flat | 31q | -1.0%-$12.2K | |
| DAVIDE CAMPARI-MILANO NV | $1.2M | 195,048 | flat | 25q | -3.4%-$43.4K | ||
| Kalmar Oyj B | $1.2M | 27,500 | flat | 4q | +1.9%+$22.0K | ||
| YETI HLDGS INC | YETI | $1.2M | 24,000 | flat | 6q | HELD | |
| Nestle SA Nom | $1.1M | 11,130 | flat | 31q | HELD | ||
| H&M | $1.1M | 64,000 | flat | 6q | HELD | ||
| FULTON FINL CORP PA | FULT | $1.1M | 44,250 | flat | 31q | -9.6%-$113.7K | |
| JBT MAREL CORPORATION | JBTM | $1.1M | 7,250 | flat | 6q | HELD | |
| ABBOTT LABORATORIES | ABT | $1.0M | 11,510 | flat | 31q | HELD | |
| Electrolux Professional | $1.0M | 230,000 | flat | 6q | HELD | ||
| COCA COLA CO | KO | $1.0M | 12,350 | flat | 31q | -5.2%-$54.9K | |
| PROCTER & GAMBLE CO | PG | $961.1K | 6,554 | flat | 31q | -29.0%-$392.3K | |
| WALMART INC | WMT | $958.7K | 8,465 | flat | 31q | -13.1%-$144.4K | |
| HERC HLDGS INC | HRI | $924.5K | 6,450 | flat | 6q | HELD | |
| LAMAR ADVERTISING CO | LAMR | $837.3K | 5,368 | flat | 31q | HELD | |
| ZALANDO SE NPV | $812.2K | 28,000 | flat | 5q | HELD | ||
| FB BANCORP INC | FBLA | $753.0K | 50,000 | flat | 7q | HELD | |
| WELLS FARGO & CO | WFC | $615.8K | 7,451 | flat | 31q | HELD | |
| TOTAL RETURN SECURITIES FUND | SWZ | $580.1K | 97,667 | flat | 24q | HELD | |
| HORMEL FOODS CORP | HRL | $459.2K | 18,500 | flat | 31q | -2.6%-$12.4K | |
| OUTFRONT MEDIA INC | OUT | $445.1K | 13,588 | flat | 7q | HELD | |
| LT Group Inc | $431.5K | 1,775,000 | flat | 31q | HELD | ||
| CHEVRON CORPORATION | CVX | $409.4K | 2,470 | flat | 31q | HELD | |
| ORACLE CORP | ORCL | $397.9K | 2,715 | flat | 25q | -24.6%-$129.7K | |
| UNUM GROUP | UNM | $311.6K | 3,485 | flat | 10q | -8.3%-$28.2K | |
| JOHNSON & JOHNSON | JNJ | $282.4K | 1,112 | flat | 3q | -14.7%-$48.8K | |
| CATERPILLAR INC | CAT | $282.2K | 265 | flat | 4q | -41.1%-$197.0K | |
| MCDONALDS CORP | MCD | $256.0K | 947 | flat | 31q | HELD | |
| DISNEY WALT CO | DIS | $239.9K | 2,492 | flat | 31q | -1.0%-$2.4K | |
| AMAZON COM INC | AMZN | $223.1K | 936 | flat | 3q | -10.0%-$24.8K | |
| MERCK & CO INC | MRK | $211.0K | 1,642 | flat | 2q | -23.3%-$64.1K | |
| Cofide SPA | $199.6K | 251,250 | flat | 7q | HELD | ||
| Hanjaya Mandala Sampoerna | $187.4K | 5,000,000 | flat | 31q | HELD |
Q2 2026 in brief
Gardner Russo & Quinn Llc reported 85 positions worth $8.9B for Q2 2026, filed 44 days after the quarter ended. Its five largest holdings made up 50.7% of the portfolio. It added most to Eurofins Scientific Se Act (about $78.2M), Doordash Inc (about $34.1M) and Netflix Inc. (about $7.1M). It cut Alphabet Inc (about $106.8M), Jpmorgan Chase & Co (about $40.6M) and Cie Financi-Reg (about $23.6M). New positions: Exxonmobil Holdings Corp ($24.8M). Sold out of: Exxon Mobil Corp and Generac Hldgs Inc. Longest held of its top ten: Alphabet Inc, 31 quarters in a row - every quarter on file.
Dollar amounts for buying and selling are estimates: the change in shares at the quarter-end price implied by the filing. A 13F shows long US stock positions only, at quarter end.
By sector
Industry comes from the SIC code on each company's own SEC filings, which is self-reported and sometimes out of date. Derivative exposure is counted with the shares. Securities the SEC assigns no industry - funds, trusts, foreign issues - are shown as not classified rather than dropped.
| Sector | Value | Share |
|---|---|---|
| Business Services | $1.8B | 20.6% |
| Insurance | $1.6B | 18.2% |
| Software & IT Services | $1.1B | 12.1% |
| Food, Drink & Tobacco | $895.7M | 10.0% |
| Telecom & Media | $461.8M | 5.2% |
| Mining & Metals | $408.9M | 4.6% |
| Other sectors | $79.0M | 0.9% |
| Not classified | $2.5B | 28.4% |
What the disclosed book did
This is not the fund's return. A 13F shows long US equity positions only, so shorts, bonds, foreign listings, private holdings and cash are all invisible here. What this measures is the quarter's change in value of the positions this manager disclosed, had they been left untouched - the return a reader following the filing would have earned.
| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +5.2% | +14.8% | -9.6% | 80% |
| Q1 2026 | -5.9% | -4.6% | -1.3% | 77% |
| Q4 2025 | +1.9% | +2.4% | -0.5% | 85% |
| Q3 2025 | +3.2% | +7.8% | -4.7% | 85% |
| Q2 2025 | +7.0% | +10.5% | -3.5% | 86% |
| Q1 2025 | +8.7% | -4.6% | +13.3% | 85% |
| Q4 2024 | -1.2% | +2.1% | -3.3% | 95% |
| Q3 2024 | +5.0% | +5.4% | -0.4% | 91% |
Market is SPY over the same two quarter ends, priced the same way as everything else here - the median across every filer reporting it. It is a large-cap US proxy, so a manager holding small caps or biotech will beat or trail it for reasons that are not skill. Prices are quarter-end to quarter-end and say nothing about the path in between, or about trades opened and closed inside a quarter.
Quarter by quarter
| Quarter | Value | Positions | New | Added | Trimmed | Exited | Top 10 | Days to file |
|---|---|---|---|---|---|---|---|---|
| Q2 2026 | $8.9B | 85 | 1 | 9 | 42 | 2 | 80.0% | 44 |
| Q1 2026 | $8.5B | 86 | 4 | 19 | 38 | 5 | 80.3% | 43 |
| Q4 2025 | $9.3B | 87 | 5 | 15 | 29 | 3 | 80.9% | 43 |
| Q3 2025 | $9.3B | 85 | 2 | 11 | 39 | 2 | 80.3% | 43 |
| Q2 2025 | $9.4B | 85 | 2 | 12 | 43 | 3 | 80.6% | 44 |
| Q1 2025 | $8.9B | 86 | 20 | 8 | 42 | 2 | 80.9% | 43 |
| Q4 2024 | $8.8B | 68 | 3 | 3 | 48 | 12 | 80.3% | 43 |
| Q3 2024 | $9.7B | 77 | 2 | 9 | 45 | 2 | 79.3% | 44 |
| Q2 2024 | $9.5B | 77 | 2 | 13 | 38 | 6 | 79.6% | 44 |
| Q1 2024 | $9.7B | 81 | 2 | 11 | 48 | 3 | 78.9% | 44 |
| Q4 2023 | $9.8B | 82 | 1 | 15 | 43 | 1 | 79.4% | 44 |
| Q3 2023 | $9.2B | 82 | 1 | 9 | 33 | 2 | 81.7% | 45 |
| Q2 2023 | $10.1B | 83 | 1 | 21 | 35 | 2 | 80.1% | 42 |
| Q1 2023 | $9.6B | 84 | 2 | 14 | 39 | 1 | 80.6% | 41 |
| Q4 2022 | $9.1B | 83 | 1 | 9 | 39 | 1 | 79.4% | 44 |
| Q3 2022 | $8.3B | 83 | 1 | 11 | 39 | 3 | 79.8% | 41 |
| Q2 2022 | $8.9B | 85 | 4 | 13 | 38 | 3 | 79.2% | 35 |
| Q1 2022 | $10.4B | 84 | 0 | 12 | 36 | 4 | 80.9% | 42 |
| Q4 2021 | $11.2B | 88 | 3 | 10 | 43 | 2 | 79.6% | 41 |
| Q3 2021 | $10.8B | 87 | 1 | 18 | 36 | 2 | 76.3% | 46 |
| Q2 2021 | $11.8B | 88 | 2 | 13 | 38 | 4 | 75.6% | 43 |
| Q1 2021 | $11.0B | 90 | 2 | 8 | 57 | 4 | 75.5% | 42 |
| Q4 2020 | $11.0B | 92 | 8 | 14 | 45 | 2 | 78.8% | 42 |
| Q3 2020 | $10.3B | 86 | 3 | 16 | 35 | 3 | 81.2% | 43 |
| Q2 2020 | $9.8B | 86 | 8 | 22 | 38 | 6 | 80.3% | 45 |
| Q1 2020 | $9.9B | 84 | 1 | 19 | 47 | 10 | 77.1% | 43 |
| Q4 2019 | $13.0B | 93 | 3 | 8 | 55 | 4 | 75.9% | 42 |
| Q3 2019 | $12.8B | 94 | 1 | 9 | 48 | 3 | 76.6% | 44 |
| Q2 2019 | $13.2B | 96 | 8 | 8 | 46 | 5 | 77.0% | 44 |
| Q1 2019 | $12.9B | 93 | 8 | 11 | 49 | 3 | 77.1% | 45 |
| Q4 2018 | $12.0B | 88 | 0 | 0 | 0 | 0 | 76.2% | 44 |
Rows marked UNVERIFIED ID, PLACEHOLDER ID, TICKER AS ID or NON-CUSIP ID carry an identifier that is not a valid CUSIP. They are shown because the filer reported that money, but treat the security named with caution - hover the chip for what is wrong with it, and see the methodology.
Held counts consecutive filings in which this manager reported the position, and can reach further back than the quarters listed above: the tabs begin at Q4 2018 because earlier coverage is too sparse to describe a market, but tenure is counted over every filing we hold, some reaching to 2007. A position sold and later rebought starts again from one.
Weight change is the shift in this position's share of the whole book, in percentage points. It is the more useful column: when money flows into or out of a broad fund, almost every holding is bought or sold at once, so added and trimmed largely track flows. A weight that rose while the book shrank is a decision. Both compare with the previous quarter this filer reported, not the previous calendar quarter.