Investor: Thomas Russo
Number of Assets: 85
Reporting Period: Q3 - 2025
Holdings at Report: $9,327,888,033
Return Since Report: -$312,387,279
Return Since Report: -3.35%
Company | Position | Activity | Shares | Port. % | Rep. Price | Curr. Price | Rep. Value | Curr. Value | Return Value | Return % |
|---|---|---|---|---|---|---|---|---|---|---|
| Abbott Laboratories (ABT) | Equity | 0% | 11,510 | 0.02% | $133.94 | $124.68 | $1,541,649 | $1,435,009 | -$106,640 | -6.92% |
| The Coca-Cola Company (KO) | Equity | 0% | 13,640 | 0.01% | $66.32 | $70.18 | $904,605 | $957,187 | +$52,582 | +5.81% |
| Comcast Corp. (CMCSA) | Equity | -4.39% | 2,445,711 | 0.82% | $31.42 | $27.39 | $76,844,225 | $66,997,807 | -$9,846,418 | -12.81% |
| Costco Wholesale Corp. (COST) | Equity | -0.19% | 4,624 | 0.05% | $925.57 | $876.53 | $4,279,820 | $4,053,075 | -$226,745 | -5.30% |
| Crane Company (CR) | Equity | -4.85% | 56,476 | 0.11% | $184.14 | $191.25 | $10,399,491 | $10,800,753 | +$401,262 | +3.86% |
| The Walt Disney Company (DIS) | Equity | -10.93% | 2,510 | 0.00% | $114.49 | $111.35 | $287,360 | $279,489 | -$7,871 | -2.74% |
| Doordash Inc. (DASH) | Equity | -4.18% | 926,363 | 2.70% | $271.99 | $228.93 | $251,961,472 | $212,072,282 | -$39,889,190 | -15.83% |
| Dover Corp. (DOV) | Equity | -9.28% | 19,551 | 0.03% | $166.83 | $199.65 | $3,261,693 | $3,903,357 | +$641,664 | +19.67% |
| Microsoft Corp. (MSFT) | Equity | -17.33% | 3,505 | 0.02% | $517.95 | $478.84 | $1,815,415 | $1,678,334 | -$137,081 | -7.55% |
| Nestlé S.A. (NSRGY) | Equity | -3.93% | 5,778,660 | 5.69% | $91.77 | $97.97 | $530,307,649 | $566,135,320 | +$35,827,671 | +6.76% |
| The Procter & Gamble Company (PG) | Equity | 0% | 10,920 | 0.02% | $153.65 | $142.59 | $1,677,858 | $1,557,028 | -$120,830 | -7.20% |
| Truist Financial Corp. (TFC) | Equity | +0.81% | 9,355 | 0.00% | $45.72 | $49.63 | $427,727 | $464,289 | +$36,562 | +8.55% |
| Kalmar Oyj B | Equity | +100% | 20,000 | 0.01% | $39.62 | N/A | $792,420 | N/A | N/A | N/A |
| Konecranes | Equity | -21.99% | 18,450 | 0.02% | $82.48 | $0.00 | $1,521,848 | $0 | -$1,521,848 | -100% |
| Chocoladefabriken Lindt & Sprüngli Ag (COCXF) | Equity | 0% | 15 | 0.02% | $150,317.33 | $109,000.00 | $2,254,760 | $1,635,000 | -$619,760 | -27.49% |
| L'Oréal S.A. (LRLCF) | Equity | 0% | 4,050 | 0.02% | $432.99 | $450.00 | $1,753,599 | $1,822,500 | +$68,901 | +3.93% |
| Lotus Bakeries | Equity | 0% | 115 | 0.01% | $9,423.50 | $0.00 | $1,083,703 | $0 | -$1,083,703 | -100% |
| LT Group Inc. | Equity | 0% | 1,775,000 | 0.00% | $0.26 | $0.00 | $464,794 | $0 | -$464,794 | -100% |
| Nestlé S.A. (NSRGF) | Equity | -1.02% | 11,170 | 0.01% | $91.84 | $97.24 | $1,025,818 | $1,086,171 | +$60,353 | +5.88% |
| Pernod Ricard Sa (PDRDF) | Equity | -4.38% | 2,700,641 | 2.84% | $98.16 | $86.83 | $265,093,570 | $234,496,658 | -$30,596,912 | -11.54% |
| Puig Brands (PUGBY) | Equity | 0% | 68,000 | 0.01% | $16.07 | $8.88 | $1,093,032 | $603,840 | -$489,192 | -44.76% |
| Rational Ag | Equity | 0% | 975 | 0.01% | $762.58 | $0.00 | $743,511 | $0 | -$743,511 | -100% |
| SSP Group | Equity | +20.44% | 660,000 | 0.02% | $2.31 | $0.00 | $1,522,043 | $0 | -$1,522,043 | -100% |
| Zalando SE | Equity | +7.69% | 28,000 | 0.01% | $30.56 | $0.00 | $855,729 | $0 | -$855,729 | -100% |
| The Swiss Helvetia Fund Inc. (SWZ) | Equity | 0% | 434,237 | 0.03% | $6.08 | $6.18 | $2,640,159 | $2,682,716 | +$42,557 | +1.61% |
| Apple Inc. (AAPL) | Equity | -8.74% | 4,699 | 0.01% | $254.63 | $277.98 | $1,196,506 | $1,306,228 | +$109,722 | +9.17% |
| Berkshire Hathaway Inc. (BRK-A) | Equity | -5.11% | 1,541 | 12.46% | $754,200.00 | $745,241.06 | $1,162,222,200 | $1,148,416,477 | -$13,805,723 | -1.19% |
| Berkshire Hathaway Inc. (BRK-B) | Equity | +0.59% | 1,161,394 | 6.26% | $502.74 | $497.61 | $583,879,220 | $577,915,461 | -$5,963,759 | -1.02% |
| Brown-Forman Corp. (BF-A) | Equity | -5.97% | 1,718,072 | 0.50% | $26.91 | $30.55 | $46,233,323 | $52,478,509 | +$6,245,186 | +13.51% |
| Brown-Forman Corp. (BF-B) | Equity | -1.64% | 765,768 | 0.22% | $27.08 | $30.95 | $20,736,988 | $23,696,691 | +$2,959,703 | +14.27% |
| Caterpillar Inc. (CAT) | Equity | +100% | 700 | 0.00% | $477.15 | $608.62 | $334,005 | $426,031 | +$92,026 | +27.55% |
| Chevron Corp. (CVX) | Equity | 0% | 2,670 | 0.00% | $155.29 | $149.73 | $414,624 | $399,779 | -$14,845 | -3.58% |
| JP Morgan Chase & Co. (JPM) | Equity | -5.00% | 545,030 | 1.84% | $315.43 | $317.26 | $171,918,813 | $172,916,218 | +$997,405 | +0.58% |
| John Bean Technologies Corp. (JBT) | Equity | 0% | 7,250 | 0.01% | $140.45 | $0.00 | $1,018,263 | $0 | -$1,018,263 | -100% |
| Lamar Advertising Company (LAMR) | Equity | 0% | 5,974 | 0.01% | $122.42 | $128.47 | $731,337 | $767,480 | +$36,143 | +4.94% |
| Levi Strauss & Co. (LEVI) | Equity | 0% | 47,725 | 0.01% | $23.30 | $21.52 | $1,111,993 | $1,027,042 | -$84,951 | -7.64% |
| Markel Group Inc. (MKL) | Equity | -6.02% | 7,653 | 0.16% | $1,911.36 | $2,160.37 | $14,627,638 | $16,533,312 | +$1,905,674 | +13.03% |
| Martin Marietta Materials Inc. (MLM) | Equity | -3.54% | 687,537 | 4.65% | $630.28 | $626.06 | $433,340,748 | $430,435,977 | -$2,904,771 | -0.67% |
| Mastercard Inc. (MA) | Equity | -3.73% | 1,620,272 | 9.88% | $568.81 | $571.42 | $921,626,733 | $925,847,725 | +$4,220,992 | +0.46% |
| Mccormick & Company Inc. (MKC) | Equity | -0.92% | 41,591 | 0.03% | $66.91 | $66.94 | $2,782,854 | $2,784,102 | +$1,248 | +0.04% |
| Mcdonald'S Corp. (MCD) | Equity | 0% | 705 | 0.00% | $303.89 | $316.92 | $214,242 | $223,429 | +$9,187 | +4.29% |
| Pepsico Inc. (PEP) | Equity | 0% | 10,960 | 0.02% | $140.44 | $149.80 | $1,539,218 | $1,641,753 | +$102,535 | +6.66% |
| Philip Morris International Inc. (PM) | Equity | -4.33% | 4,662,201 | 8.11% | $162.20 | $152.73 | $756,209,051 | $712,034,648 | -$44,174,403 | -5.84% |
| The Pnc Financial Services Group Inc. (PNC) | Equity | -5.06% | 3,750 | 0.01% | $200.93 | $211.33 | $753,488 | $792,484 | +$38,996 | +5.18% |
| Abbvie Inc. (ABBV) | Equity | 0% | 12,410 | 0.03% | $231.54 | $221.69 | $2,873,411 | $2,751,173 | -$122,238 | -4.25% |
| Alphabet Inc. (GOOGL) | Equity | -1.54% | 15,486 | 0.04% | $243.10 | $309.47 | $3,764,647 | $4,792,452 | +$1,027,805 | +27.30% |
| Alphabet Inc. (GOOG) | Equity | -8.65% | 4,649,923 | 12.14% | $243.55 | $310.80 | $1,132,488,747 | $1,445,196,068 | +$312,707,321 | +27.61% |
| Altria Group Inc. (MO) | Equity | -13.45% | 165,693 | 0.12% | $66.06 | $58.59 | $10,945,679 | $9,707,124 | -$1,238,555 | -11.32% |
| American Express Company (AXP) | Equity | -0.01% | 13,632 | 0.05% | $332.16 | $380.07 | $4,528,005 | $5,181,114 | +$653,109 | +14.42% |
| Exxon Mobil Corp. (XOM) | Equity | +0.76% | 191,742 | 0.23% | $112.75 | $118.46 | $21,618,892 | $22,713,757 | +$1,094,865 | +5.06% |
| FB Bancorp. Inc. (FBLA) | Equity | -9.09% | 50,000 | 0.01% | $12.02 | $13.07 | $601,000 | $653,500 | +$52,500 | +8.74% |
| Fomento Económico Mexicano S.A.B. De C.V. (FMX) | Equity | -4.45% | 3,218 | 0.00% | $98.63 | $103.86 | $317,391 | $334,221 | +$16,830 | +5.30% |
| Fulton Financial Corp. (FULT) | Equity | -5.28% | 64,600 | 0.01% | $18.63 | $19.77 | $1,203,498 | $1,276,819 | +$73,321 | +6.09% |
| Generac Holdings Inc. (GNRC) | Equity | -60.18% | 2,250 | 0.00% | $167.40 | $160.75 | $376,650 | $361,683 | -$14,967 | -3.97% |
| Herc Holdings Inc. (HRI) | Equity | -23.67% | 6,450 | 0.01% | $116.66 | $156.82 | $752,457 | $1,011,489 | +$259,032 | +34.42% |
| Hormel Foods Corp. (HRL) | Equity | -44.25% | 19,835 | 0.01% | $24.74 | $24.11 | $490,718 | $478,222 | -$12,496 | -2.55% |
| Hyatt Hotels Corp. (H) | Equity | 0% | 8,675 | 0.01% | $141.93 | $162.21 | $1,231,243 | $1,407,172 | +$175,929 | +14.29% |
| Netflix Inc. (NFLX) | Equity | -5.15% | 514,425 | 6.61% | $1,198.92 | $95.63 | $616,754,421 | $49,194,463 | -$567,559,958 | -92.02% |
| Oracle Corp. (ORCL) | Equity | 0% | 3,475 | 0.01% | $281.24 | $189.67 | $977,309 | $659,103 | -$318,206 | -32.56% |
| Outfront Media Inc. (OUT) | Equity | 0% | 15,690 | 0.00% | $18.32 | $23.39 | $287,441 | $366,989 | +$79,548 | +27.67% |
| Uber Technologies Inc. (UBER) | Equity | -3.80% | 4,710,841 | 4.95% | $97.97 | $85.45 | $461,521,093 | $402,517,809 | -$59,003,284 | -12.78% |
| Union Pacific Corp. (UNP) | Equity | +0.52% | 24,843 | 0.06% | $236.37 | $238.97 | $5,872,227 | $5,936,607 | +$64,380 | +1.10% |
| Unum Group (UNM) | Equity | 0% | 3,800 | 0.00% | $77.78 | $76.68 | $295,564 | $291,384 | -$4,180 | -1.41% |
| Visa Inc. (V) | Equity | -3.69% | 122,264 | 0.45% | $341.38 | $347.47 | $41,738,484 | $42,483,072 | +$744,588 | +1.78% |
| Vulcan Materials Company (VMC) | Equity | -2.61% | 9,897 | 0.03% | $307.62 | $294.87 | $3,044,515 | $2,918,328 | -$126,187 | -4.14% |
| Walmart Inc. (WMT) | Equity | 0% | 10,165 | 0.01% | $103.06 | $116.28 | $1,047,605 | $1,181,935 | +$134,330 | +12.82% |
| Warby Parker Inc. (WRBY) | Equity | +5.17% | 61,000 | 0.02% | $27.58 | $28.42 | $1,682,380 | $1,733,620 | +$51,240 | +3.05% |
| Wells Fargo & Company (WFC) | Equity | -55.58% | 10,149 | 0.01% | $83.82 | $92.69 | $850,662 | $940,711 | +$90,049 | +10.59% |
| Yeti Holdings Inc. (YETI) | Equity | 0% | 24,000 | 0.01% | $33.18 | $44.17 | $796,320 | $1,060,080 | +$263,760 | +33.12% |
| Anheuser Busch Inbev NV (BUD) | Equity | -4.75% | 282,215 | 0.18% | $59.69 | $63.60 | $16,845,413 | $17,948,874 | +$1,103,461 | +6.55% |
| Ashtead Group PLC (ASHTF) | Equity | -4.02% | 5,577,080 | 4.00% | $66.84 | $67.88 | $372,779,347 | $378,572,190 | +$5,792,843 | +1.55% |
| Carlsberg A/S (CABJF) | Equity | +0.74% | 12,055 | 0.02% | $116.30 | $124.15 | $1,401,938 | $1,496,628 | +$94,690 | +6.75% |
| Cofide Spa | Equity | 0% | 251,250 | 0.00% | $0.77 | $0.00 | $192,778 | $0 | -$192,778 | -100% |
| Compagnie Financière Richemont Sa (CFRHF) | Equity | -3.33% | 3,603,992 | 7.36% | $190.54 | $210.00 | $686,690,363 | $756,838,320 | +$70,147,957 | +10.22% |
| Davide Campari-Milano NV | Equity | -10.26% | 210,353 | 0.01% | $6.31 | $0.00 | $1,327,275 | $0 | -$1,327,275 | -100% |
| De'longhi | Equity | 0% | 35,250 | 0.01% | $36.17 | $0.00 | $1,274,869 | $0 | -$1,274,869 | -100% |
| Deliveroo PLC | Equity | 0% | 390,000 | 0.01% | $2.42 | $0.00 | $943,492 | $0 | -$943,492 | -100% |
| Demant AS | Equity | 0% | 41,000 | 0.02% | $34.66 | $0.00 | $1,421,137 | $0 | -$1,421,137 | -100% |
| Electrolux Professional | Equity | +13.96% | 200,000 | 0.01% | $6.44 | $0.00 | $1,288,663 | $0 | -$1,288,663 | -100% |
| Fielmann | Equity | +8.70% | 25,000 | 0.02% | $60.40 | $0.00 | $1,509,875 | $0 | -$1,509,875 | -100% |
| Fluidra | Equity | 0% | 53,000 | 0.02% | $27.10 | $0.00 | $1,436,062 | $0 | -$1,436,062 | -100% |
| H&M | Equity | 0% | 64,000 | 0.01% | $18.63 | $0.00 | $1,192,544 | $0 | -$1,192,544 | -100% |
| PT Hanjaya Mandala Sampoerna Tbk (PHJMF) | Equity | 0% | 5,000,000 | 0.00% | $0.05 | $0.05 | $244,525 | $250,000 | +$5,475 | +2.24% |
| Heineken Holding N.V. (HKHHF) | Equity | +10.14% | 9,285,906 | 6.83% | $68.56 | $72.25 | $636,653,323 | $670,906,709 | +$34,253,385 | +5.38% |
| Heineken N.V. (HINKF) | Equity | 0% | 15,131 | 0.01% | $78.04 | $82.12 | $1,180,876 | $1,242,558 | +$61,682 | +5.22% |