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Asset manager

Gardner Russo & Quinn LLC

13F for the quarter to June 30, 2026, filed August 13, 2026 · SEC CIK 860643

Reported value
$8.9bn
41% in companies we cover
Positions we cover
45
Largest PM 9.2%
Copy, a year
+10.8%
S&P 500 +14.1%
Copy Sharpe ratio
0.54
S&P 500 0.78

How copying its 13F would have done

$10.0k$20.0k$40.0k 2013201520172019202120232025 $57.0k$38.6k
CopyS&P 500 $10,000 copying Gardner Russo & Quinn LLC's filed holdings in companies we cover from August 16, 2013, buying on the first trading day after each 13F was filed and holding until the next, against the S&P 500 (total return). Marked weekly, log scale. Before costs and taxes; misses trading within each quarter and anything 13F does not show (shorts, cash, bonds, non-US holdings).

Biggest drop −36.9% (S&P 500 −31.8%); beta 0.96; alpha −2.0% a year (t = −0.71); last 12 months +1.1% against +12.1%.

Reported value by quarter

Gardner Russo & Quinn LLC: 13F reported value Total value of all positions in each quarter's 13F, as filed (values before 2023 were filed in thousands of dollars and are converted).
$0 $5T $10T Reported value, 2013-06-30: $8.6B Reported value, 2013-09-30: $9.4B Reported value, 2013-12-31: $10.1B Reported value, 2014-03-31: $10.3B Reported value, 2014-06-30: $10.8B Reported value, 2014-09-30: $10.6B Reported value, 2014-12-31: $11B Reported value, 2015-03-31: $11.1B Reported value, 2015-06-30: $11.4B Reported value, 2015-09-30: $11.1B Reported value, 2015-12-31: $11.7B Reported value, 2016-03-31: $11.8B Reported value, 2016-06-30: $11.9B Reported value, 2016-09-30: $12B Reported value, 2016-12-31: $11.8B Reported value, 2017-03-31: $12.9B Reported value, 2017-06-30: $13.5B Reported value, 2017-09-30: $14.1B Reported value, 2017-12-31: $14.5B Reported value, 2018-03-31: $14.3B Reported value, 2018-06-30: $13.7B Reported value, 2018-09-30: $13.8B Reported value, 2018-12-31: $12B Reported value, 2019-03-31: $12.9B Reported value, 2019-06-30: $13.2B Reported value, 2019-09-30: $12.8B Reported value, 2019-12-31: $13B Reported value, 2020-03-31: $9.9B Reported value, 2020-06-30: $9.8B Reported value, 2020-09-30: $10.3B Reported value, 2020-12-31: $11B Reported value, 2021-03-31: $11B Reported value, 2021-06-30: $11.8B Reported value, 2021-09-30: $10.8B Reported value, 2021-12-31: $11.2B Reported value, 2022-03-31: $10.4B Reported value, 2022-06-30: $8.9B Reported value, 2022-09-30: $8.3B Reported value, 2022-12-31: $9.1T Reported value, 2023-03-31: $9.6B Reported value, 2023-06-30: $10.1B Reported value, 2023-09-30: $9.2B Reported value, 2023-12-31: $9.8B Reported value, 2024-03-31: $9.7B Reported value, 2024-06-30: $9.5B Reported value, 2024-09-30: $9.7B Reported value, 2024-12-31: $8.8B Reported value, 2025-03-31: $8.9B Reported value, 2025-06-30: $9.4B Reported value, 2025-09-30: $9.3B Reported value, 2025-12-31: $9.3B Reported value, 2026-03-31: $8.5B Reported value, 2026-06-30: $8.9B 2013-06-30 2016-03-31 2018-12-31 2021-09-30 2026-06-30 $8.9B
View chart data
Period Reported value
2013-06-30 $8.6B
2013-09-30 $9.4B
2013-12-31 $10.1B
2014-03-31 $10.3B
2014-06-30 $10.8B
2014-09-30 $10.6B
2014-12-31 $11B
2015-03-31 $11.1B
2015-06-30 $11.4B
2015-09-30 $11.1B
2015-12-31 $11.7B
2016-03-31 $11.8B
2016-06-30 $11.9B
2016-09-30 $12B
2016-12-31 $11.8B
2017-03-31 $12.9B
2017-06-30 $13.5B
2017-09-30 $14.1B
2017-12-31 $14.5B
2018-03-31 $14.3B
2018-06-30 $13.7B
2018-09-30 $13.8B
2018-12-31 $12B
2019-03-31 $12.9B
2019-06-30 $13.2B
2019-09-30 $12.8B
2019-12-31 $13B
2020-03-31 $9.9B
2020-06-30 $9.8B
2020-09-30 $10.3B
2020-12-31 $11B
2021-03-31 $11B
2021-06-30 $11.8B
2021-09-30 $10.8B
2021-12-31 $11.2B
2022-03-31 $10.4B
2022-06-30 $8.9B
2022-09-30 $8.3B
2022-12-31 $9.1T
2023-03-31 $9.6B
2023-06-30 $10.1B
2023-09-30 $9.2B
2023-12-31 $9.8B
2024-03-31 $9.7B
2024-06-30 $9.5B
2024-09-30 $9.7B
2024-12-31 $8.8B
2025-03-31 $8.9B
2025-06-30 $9.4B
2025-09-30 $9.3B
2025-12-31 $9.3B
2026-03-31 $8.5B
2026-06-30 $8.9B

Holdings and moves

CompanyShare of portfolioValueSharesChange in shares
PMPhilip Morris International9.18%$819.7m4.53M−1.6% Reduced
MAMastercard8.76%$781.9m1.52M−2.1% Reduced
SUNBSunbelt Rentals Holdings, Inc.4.94%$441.2m5.90M−2.5% Reduced
NFLXNetflix4.57%$407.7m5.71M+1.8% Added
MLMMartin Marietta Materials4.56%$406.8m705.4K−1.4% Reduced
UBERUber4.11%$366.9m5.08M−1.7% Reduced
DASHDoorDash2.45%$218.9m1.19M+18.5% Added
CMCSAComcast0.60%$53.9m2.19M−2.6% Reduced
VVisa Inc.0.34%$29.9m87.3K−7.0% Reduced
XOMExxonMobil0.28%$24.8m181.2KNew
MOAltria0.12%$10.7m148.6K−9.6% Reduced
CRCrane Co0.11%$9.8m43.9K−5.8% Reduced
MKLMarkel Group Inc.0.09%$8.3m4.3K−13.9% Reduced
JPMJPMorgan Chase0.09%$8.1m24.7K−83.4% Reduced
UNPUnion Pacific Corporation0.08%$7.0m25.8K−6.5% Reduced
DOVDover Corporation0.05%$4.2m18.9K−1.4% Reduced
GOOGLAlphabet Inc. (Class A)0.04%$4.0m11.1K−4.3% Reduced
COSTCostco0.04%$3.2m3.4K−26.5% Reduced
ABBVAbbVie0.04%$3.1m12.4K0.0%
VMCVulcan Materials Company0.02%$2.1m7.3K0.0%
MKCMcCormick & Company0.02%$1.9m38.0K−1.6% Reduced
AXPAmerican Express0.02%$1.7m5.1K−21.0% Reduced
MSFTMicrosoft Corporation0.01%$1.3m3.6K+1.1% Added
AAPLApple Inc.0.01%$1.3m4.6K−3.2% Reduced
PEPPepsiCo0.01%$1.2m9.1K−1.0% Reduced
FULTFulton Financial Corp0.01%$1.1m44.3K−9.6% Reduced
JBTMJBT Marel Corp0.01%$1.1m7.3K0.0%
ABTAbbott Laboratories0.01%$1.0m11.5K0.0%
KOThe Coca-Cola Company0.01%$1.0m12.3K−5.2% Reduced
PGProcter & Gamble0.01%$961,0796.6K−29.0% Reduced
WMTWalmart0.01%$958,7468.5K−13.1% Reduced
LAMRLamar Advertising Co0.01%$837,3015.4K0.0%
FBLAFB Bancorp, Inc.0.01%$753,00050.0K0.0%
WFCWells Fargo0.01%$615,7627.5K0.0%
HRLHormel Foods0.01%$459,17018.5K−2.6% Reduced
OUTOutfront Media Inc.0.01%$445,14313.6K0.0%
CVXChevron Corporation0.01%$409,4272.5K0.0%
ORCLOracle Corporation0.00%$397,8832.7K−24.6% Reduced
UNMUnum Group0.00%$311,5593.5K−8.3% Reduced
JNJJohnson & Johnson0.00%$282,4151.1K−14.7% Reduced
CATCaterpillar Inc.0.00%$282,199265−41.1% Reduced
MCDMcDonald's0.00%$255,9849470.0%
DISThe Walt Disney Company0.00%$239,8582.5K−1.0% Reduced
AMZNAmazon0.00%$223,086936−10.0% Reduced
MRKMerck & Co.0.00%$211,0061.6K−23.3% Reduced
CompanyBought (value)Shares
DASHDoorDash$34.1m184.9K
XOMExxonMobil$24.8m181.2K
NFLXNetflix$7.1m99.4K
MSFTMicrosoft Corporation$14,92140
WFCWells Fargo$831

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

CompanySold (value)Shares
JPMJPMorgan Chase−$40.6m−124.1K
MAMastercard−$16.8m−32.7K
PMPhilip Morris International−$13.4m−74.2K
SUNBSunbelt Rentals Holdings, Inc.−$11.3m−151.3K
UBERUber−$6.5m−89.4K
MLMMartin Marietta Materials−$5.8m−10.0K
VVisa Inc.−$2.2m−6.6K
CMCSAComcast−$1.5m−59.4K
MKLMarkel Group Inc.−$1.3m−689
COSTCostco−$1.1m−1.2K
MOAltria−$1.1m−15.9K
CRCrane Co−$599,835−2.7K
UNPUnion Pacific Corporation−$488,776−1.8K
AXPAmerican Express−$460,020−1.4K
GNRCGenerac−$439,493−2.3K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

CompanyValue last quarterShares
GNRCGenerac$439,4932.3K
  • Consumer Staples23.1%
  • Financials22.9%
  • Industrials22.9%
  • Communication Services12.8%
  • Materials11.3%
  • Consumer Discretionary6.0%
  • Energy0.7%
  • Health Care0.1%
  • Technology0.1%
  • Real Estate0.0%

Share of the value held in companies we cover, by sector.

PeriodCopy, a yearS&P 500SharpeS&P 500Biggest dropBeta
Whole backtestAugust 16, 2013 to November 2, 2026+10.8%+14.1%0.540.78−36.9%0.96
2018 onwardsJanuary 5, 2018 to November 2, 2026+9.9%+13.9%0.420.66−36.9%0.98
Last three yearsNovember 3, 2023 to November 2, 2026+19.5%+21.8%1.001.16−15.4%0.71
Last yearNovember 7, 2025 to November 2, 2026+1.9%+14.2%−0.080.84−9.6%0.60

From SEC Form 13F data sets. A 13F lists long positions in US-listed shares at the quarter's end, filed up to 45 days later; it does not show shorts, cash, bonds, non-US holdings or trades within the quarter. Positions in companies outside our coverage are not listed here. Research, not investment advice.