GARDNER RUSSO & QUINN LLC

CIK 0000860643 · Q2 2026

13F Equity AUM

$8.9B

+5.1% QoQ

Positions

-1 QoQ

AUM Rank

#1,185

Top 9%

Skill Alpha (FF)

+0.0%/yr^ns

No Clear Edge

Rank #2,781 · Top 34%

vs S&P -2.4%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 50.7%Top 10: 80.0%Top 20: 98.5%

GOOG12.1%

BRK/A12.0%

4I19.2%

MA8.8%

CFR.SW8.7%

HEIO.AS7.6%

NSRGY6.1%

BRK/B6.0%

Sunbelt Rentals Holdings Inc4.9%

NFLX4.6%

Others (75)20.0%

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

Sector Allocation

Communication Services19.7%

Financial Services15.4%

Consumer Defensive14.5%

Financials12.0%

Unclassified11.2%

Consumer Staples9.4%

Consumer Cyclical8.7%

Basic Materials4.6%

Other4.5%

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

Position Sizing

Positions: 85Median: 0.02%Avg: 1.18%

0–0.5%

69(2.8%)

0.5–1%

1(0.6%)

1–3%

2(4.4%)

3–5%

5(21.8%)

5%+

8(70.5%)

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

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Portfolio Overlap

Shared: 0Unique: 85vs 20 funds

0%Low

Fund positions

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.

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Position Changes This Quarter

New1Increased10Decreased42Exited2

New Positions

Exxon Mobil Corp0.3%

+181K

Increased

Eurofins Scientific3.6%

+998K(+32%)

DASH2.5%

+185K(+18%)

NFLX4.6%

+99K(+2%)

De'Longhi0.0%

+4K(+9%)

ALK Abello A/S0.0%

+3K(+6%)

Levi Strauss & C…0.0%

+1K(+1%)

Kalmar Oyj B0.0%

+500(+2%)

Carlsberg B A/S0.0%

+263(+3%)

MSFT0.0%

+40(+1%)

WFC0.0%

+1(+0%)

Decreased

GOOG12.1%

-302,260(-9%)

HEIO.AS7.6%

-195,845(-2%)

NSRGY6.1%

-166,816(-3%)

Sunbelt Rentals Hold…4.9%

-151,308(-3%)

Pernod Ricard1.9%

-128,296(-5%)

JPM0.1%

-124,079(-83%)

CFR.SW8.7%

-101,941(-3%)

UBER4.1%

-89,389(-2%)

4I19.2%

-74,223(-2%)

CMCSA0.6%

-59,446(-3%)

Exited

XOM

-193,950

GNRC

-2,250

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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