Insights from Tom Russo (Trades, Portfolio)'s Fourth Quarter 2024 13F Filing

Tom Russo (Trades, Portfolio) recently submitted the 13F filing for the fourth quarter of 2024, providing insights into his investment moves during this period. Thomas A. Russo joined Gardner Investments as a partner in 1989. In 2014, Mr. Russo became the Managing Member of the firm. Mr. Russo serves as Managing Member of Gardner Russo & Quinn LLC and of Semper Vic Partners GP, LP, which oversees two "global value," long-only, equity investment partnerships, the first of which Mr. Russo founded in 1983. Mr. Russo oversees more than $8 billion distributed between Semper Vic partnerships and separate accounts managed in parallel fashion. His investment philosophy emphasizes return on invested capital, principally through equity investments. His approach to stock selection stresses two main points: value and price. He looks for companies with strong cash-flow characteristics, where large amounts of "free" cash flow are generated. Portfolio companies tend to have strong balance sheets and a history of producing high rates of return on their assets.

Summary of New Buy

Tom Russo (Trades, Portfolio) added a total of 1 stock, among them:

• The most significant addition was FB Bancorp Inc (FBLA, Financial), with 70,000 shares, accounting for 0.01% of the portfolio and a total value of $834,400.

Key Position Increases

Tom Russo (Trades, Portfolio) also increased stakes in a total of 7 stocks, among them:

• The most notable increase was Uber Technologies Inc (UBER, Financial), with an additional 353,488 shares, bringing the total to 4,150,867 shares. This adjustment represents a significant 9.31% increase in share count, a 0.24% impact on the current portfolio, with a total value of $250,380,300.
• The second largest increase was Alphabet Inc (GOOGL, Financial), with an additional 30 shares, bringing the total to 20,466. This adjustment represents a significant 0.15% increase in share count, with a total value of $3,874,210.

Summary of Sold Out

Tom Russo (Trades, Portfolio) completely exited 10 holdings in the fourth quarter of 2024, as detailed below:

• Pernod Ricard SA (PRNDY, Financial): Tom Russo (Trades, Portfolio) sold all 23,057 shares, resulting in a -0.01% impact on the portfolio.
• Carlisle Companies Inc (CSL, Financial): Tom Russo (Trades, Portfolio) liquidated all 500 shares, causing a -0% impact on the portfolio.

Key Position Reduces

Tom Russo (Trades, Portfolio) also reduced positions in 51 stocks. The most significant changes include:

• Reduced Berkshire Hathaway Inc (BRK.A, Financial) by 176 shares, resulting in an -8.61% decrease in shares and a -1.25% impact on the portfolio. The stock traded at an average price of $692,646 during the quarter and has returned 0.64% over the past 3 months and 3.56% year-to-date.
• Reduced Netflix Inc (NFLX, Financial) by 99,065 shares, resulting in a -13.54% reduction in shares and a -0.72% impact on the portfolio. The stock traded at an average price of $824.93 during the quarter and has returned 23.55% over the past 3 months and 13.59% year-to-date.

Portfolio Overview

At the fourth quarter of 2024, Tom Russo (Trades, Portfolio)'s portfolio included 68 stocks, with top holdings including 14.39% in Berkshire Hathaway Inc (BRK.A), 12.13% in Alphabet Inc (GOOG, Financial), 11.22% in Mastercard Inc (MA, Financial), 7.26% in Compagnie Financiere Richemont SA (CFRHF, Financial), and 7.06% in Philip Morris International Inc (PM, Financial).

The holdings are mainly concentrated in 10 of the 11 industries: Financial Services, Consumer Defensive, Communication Services, Consumer Cyclical, Basic Materials, Industrials, Technology, Energy, Healthcare, and Real Estate.

This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.