Yahoo Finance Tom Russo's Strategic Moves in Q1 2024: A Closer Look at Berkshire Hathaway's Adjustment
Insights into the Investment Shifts of a Veteran Value Investor
Tom Russo (Trades, Portfolio), the seasoned investor at the helm of Gardner Russo & Quinn LLC, has made notable changes to his investment portfolio in the first quarter of 2024. With a career that began in 1989 and a managing role since 2014, Russo manages over $8 billion in assets. His investment strategy focuses on companies with robust cash-flow characteristics and high returns on invested capital, favoring those with strong balance sheets and significant free cash flow.
Summary of New Buys
Tom Russo (Trades, Portfolio) expanded his portfolio by adding two new stocks in this quarter:
Lvmh Moet Hennessy Louis Vuitton SE (LVMUY) with 1,121 shares, valued at approximately $201.87 million.
Unum Group (NYSE:UNM) with 4,050 shares, valued at approximately $217.32 million.
Key Position Increases
Russo also increased his stakes in a total of 12 stocks, with significant boosts in:
Pernod Ricard SA (PDRDF), adding 211,183 shares to bring the total to 3,026,620 shares. This adjustment increased the share count by 7.51% and had a 0.35% impact on the current portfolio, totaling $489.66 million.
Uber Technologies Inc (NYSE:UBER), with an additional 218,865 shares, bringing the total to 3,300,228 shares. This represents a 7.1% increase in share count, totaling $254.08 million.
Summary of Sold Out Positions
In the first quarter of 2024, Tom Russo (Trades, Portfolio) exited three positions:
Graham Holdings Co (NYSE:GHC), selling all 1,161 shares, impacting the portfolio by -0.01%.
Pioneer Natural Resources Co (NYSE:PXD), liquidating all 2,400 shares, also impacting the portfolio by -0.01%.
Key Position Reductions
Significant reductions were made in 50 stocks, including:
Berkshire Hathaway Inc (NYSE:BRK.A), reduced by 285 shares, resulting in an 11.79% decrease in shares and a -1.58% impact on the portfolio. The stock traded at an average price of $593,888 during the quarter and has returned 2.80% over the past three months and 13.86% year-to-date.
Netflix Inc (NASDAQ:NFLX), reduced by 250,887 shares, resulting in a 22.3% reduction in shares and a -1.24% impact on the portfolio. The stock traded at an average price of $563.82 during the quarter and has returned 6.22% over the past three months and 26.39% year-to-date.
Portfolio Overview
As of the first quarter of 2024, Tom Russo (Trades, Portfolio)'s portfolio included 81 stocks. The top holdings were:
13.88% in Berkshire Hathaway Inc (NYSE:BRK.A)
11.03% in Alphabet Inc (NASDAQ:GOOG)
10.38% in Mastercard Inc (NYSE:MA)
7.9% in Nestle SA (NSRGY)
7.26% in Compagnie Financiere Richemont SA (CFRHF)
The holdings are mainly concentrated in 10 of the 11 industries, including Financial Services, Consumer Defensive, and Technology, among others.
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.
This article first appeared on GuruFocus.
