GARDNER RUSSO & QUINN LLC

CIK 0000860643 · Q1 2026

13F Equity AUM

$8.5B

-8.3% QoQ

Positions

-1 QoQ

AUM Rank

#718

Top 6%

Skill Alpha (FF)

+0.5%/yr^ns

No Clear Edge

Rank #1,918 · Top 23%

vs S&P -3.0%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 49.3%Top 10: 80.3%Top 20: 98.4%

BRK/A12.3%

GOOG11.3%

MA9.2%

4I19.0%

HEIO.AS7.6%

CFR.SW7.0%

NSRGY6.4%

NFLX6.3%

BRK/B6.3%

MLM5.0%

Others (76)19.7%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Communication Services20.2%

Financial Services16.4%

Consumer Defensive14.8%

Financials12.3%

Unclassified9.9%

Consumer Staples9.2%

Consumer Cyclical7.0%

Basic Materials5.0%

Other5.2%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 86Median: 0.02%Avg: 1.16%

0–0.5%

68(2.3%)

0.5–1%

3(1.8%)

1–3%

3(6.6%)

3–5%

3(14.0%)

5%+

9(75.3%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 51Unique: 35vs 20 funds

0.7%Low

Fund positions

7,299

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Most Similar Funds

Top 9 benchmark funds with highest portfolio overlap (Jaccard similarity)

BlackRock, Inc.

1.3%

VANGUARD CAPITAL MANAGEMENT LLC

1.5%

VANGUARD PORTFOLIO MANAGEMENT LLC

1.8%

MORGAN STANLEY

BANK OF AMERICA CORP /DE/

1.1%

STATE STREET CORP

1.5%

GEODE CAPITAL MANAGEMENT, LLC

1.4%

JPMORGAN CHASE & CO

FMR LLC

1.6%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

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Position Changes This Quarter

New4Increased21Decreased39Exited5

New Positions

Sunbelt Rentals Hold…4.6%

+6.0M

Eurofins Scientific2.6%

+3.1M

Sunbelt Rentals Hold…0.0%

+18K

MRK0.0%

+2K

Increased

NFLX6.3%

+606K(+12%)

DASH1.8%

+71K(+8%)

SSP Group0.0%

+40K(+6%)

Levi Strauss & C…0.0%

+35K(+73%)

Konecranes0.0%

+34K(+185%)

Electrolux Professio…0.0%

+30K(+15%)

UBER4.4%

+28K(+1%)

ALK Abello A/S0.0%

+15K(+43%)

WRBY0.0%

+15K(+23%)

Fluidra0.0%

+11K(+19%)

Decreased

GOOG11.3%

-580,860(-15%)

JPM0.5%

-380,019(-72%)

NSRGY6.4%

-135,448(-2%)

HEIO.AS7.6%

-98,748(-1%)

4I19.0%

-92,439(-2%)

Anheuser-Busch InBev…0.1%

-81,515(-31%)

Pernod Ricard2.2%

-74,224(-3%)

CFR.SW7.0%

-54,818(-2%)

SWZ0.0%

-48,617(-33%)

BF/B0.2%

-48,485(-7%)

Exited

ASHGY

-6,111,758

DGEAF

-129,805

PNC

-3,750

-8,675

IBM

-750

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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