Tom Russo

Tom Russo

Last Update: 02-11-2016

Number of Stocks: 105
Number of New Stocks: 5

Total Value: $11,697 Mil
Q/Q Turnover: 5%

Countries: USA NOR GBR FRA CHE SGP ESP
Details: Top Buys | Top Sales | Top Holdings  Embed:

Tom Russo' s Profile & Performance

Profile

Mr. Russo oversees $3 billion as general partner of the Semper Vic Partners and Semper Vic Partners (Q.P.) limited partnerships along with overseeing funds in discretionary, individually managed accounts for individuals, trusts and endowments. He is a graduate of Dartmouth College (BA, 1977) and Stanford Business and Law Schools (MBA/JD, 1984).

According to Mr. Russo himself, his fund is relatively concentrated. Therefore, the large positions we reported here are his. Others may be from his partners.

Investing Philosophy

Thomas A. Russo joined Gardner Russo & Gardner as a partner in 1989. His investment philosophy emphasizes return on invested capital, principally through equity investments. His approach to stock selection stresses two main points: value and price. He looks for companies with strong cash-flow characteristics, where large amounts of "free" cash flow are generated. Portfolio companies tend to have strong balance sheets and a history of producing high rates of return on their assets.

Total Holding History

Performance of Semper Vic Partners

YearReturn (%)S&P500 (%)Excess Gain (%)
20146.113.69-7.6
201321.932.39-10.5
201224.4168.4
3-Year Cumulative60.9 (17.2%/year)74.6 (20.4%/year)-13.7 (-3.2%/year)
20116.72.114.6
201021.515.066.4
5-Year Cumulative108.6 (15.8%/year)105.1 (15.5%/year)3.5 (0.3%/year)
200925.826.46-0.7
2008-31.5-375.5
20077.75.492.2
200620.815.795.0
20053.24.91-1.7
10-Year Cumulative141.3 (9.2%/year)109.4 (7.7%/year)31.9 (1.5%/year)
200411.910.881.0
200333.6528.685.0
2002-1-22.121.1
20010.1-11.8912.0
200015.6-9.124.7
15-Year Cumulative313.5 (9.9%/year)86.4 (4.2%/year)227.1 (5.7%/year)
1999-2.121.04-23.1
199823.828.58-4.8
199724.733.36-8.7
19961922.96-4.0
199523.637.58-14.0
20-Year Cumulative819.1 (11.7%/year)554.6 (9.8%/year)264.5 (1.9%/year)
199412.41.3211.1
199322.110.0812.0
199213.47.625.8
199127.430.47-3.1
19905.3-3.18.4
25-Year Cumulative1819 (12.5%/year)893.3 (9.6%/year)925.7 (2.9%/year)
198924.631.69-7.1
198819.816.613.2
198737.15.132.0
198624.818.66.2
198543.931.612.3
30-Year Cumulative6952.7 (15.2%/year)2402.2 (11.3%/year)4550.5 (3.9%/year)
198413.66.17.5

Top Ranked Articles

Thomas Russo on Global Value Investing Russo favors consumer brands with long-term perspective
Tom Russo is a partner at Gardner Russo & Gardner LLC. According to Insidermonkey.com, his company managed to beat the Standard & Poor's 500 index by 4.7 percentage points annually between 1984 and 2011. Read more...
Dealing With Foreign Currency Non buy-and-hold global investors should incorporate a framework to deal with foreign currency impact
Most value investors are bottom-up. Yes, our focus should be the fundamentals of the business, not the macro economic factors that are less predictable and less controllable. But how far up should we get? Should macro factors be totally ignored? If not, how much attention should we devote to macro factors such as foreign exchange rates? Read more...
Tom Russo's Global Stock Picks Russo explains 4 investment ideas with Bloomberg
Tom Russo recently spoke with Bloomberg's radio show "Taking Stock." The guru manages about $10 billion. He likes family-controlled companies because families think long term and don't care as much for quarterly numbers, and also tend to be more conservatively financed. He also likes to invest in companies with high ROE numbers. On the show he touts four stocks, three of which are non U.S. companies. Read more...
Altria, Cigna, Philip Morris Are Outperforming the S&P 500 Guru stocks with high returns
The following are some of the stocks that outperformed the S&P 500 Index over the last 12 months and have been bought by gurus during the last quarter. Read more...
Tom Russo Cuts Berkshire, Unilever Stakes An overview of Russo's largest 3rd quarter trades
Tom Russo joined Gardner Russo & Gardner as a partner in 1989. His investment philosophy emphasizes return on invested capital, principally through equity investments. His approach to stock selection stresses two main points: value and price. He manages a portfolio composed of 104 stocks with total value of $11,073 million. Read more...
» More Tom Russo Articles

Commentaries and Stories

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Thomas Russo on Global Value Investing Russo favors consumer brands with long-term perspective Tom Russo - Thomas Russo On Global Value Investing
Tom Russo is a partner at Gardner Russo & Gardner LLC. According to Insidermonkey.com, his company managed to beat the Standard & Poor's 500 index by 4.7 percentage points annually between 1984 and 2011. More...

THOMAS RUSSO


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Dealing With Foreign Currency Non buy-and-hold global investors should incorporate a framework to deal with foreign currency impact Tom Russo - Dealing With Foreign Currency
Most value investors are bottom-up. Yes, our focus should be the fundamentals of the business, not the macro economic factors that are less predictable and less controllable. But how far up should we get? Should macro factors be totally ignored? If not, how much attention should we devote to macro factors such as foreign exchange rates? More...

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Tom Russo's Global Stock Picks Russo explains 4 investment ideas with Bloomberg Tom Russo - Tom Russo's Global Stock Picks
Tom Russo recently spoke with Bloomberg's radio show "Taking Stock." The guru manages about $10 billion. He likes family-controlled companies because families think long term and don't care as much for quarterly numbers, and also tend to be more conservatively financed. He also likes to invest in companies with high ROE numbers. On the show he touts four stocks, three of which are non U.S. companies. More...

LONG, CONSUMER, LUXURY


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Altria, Cigna, Philip Morris Are Outperforming the S&P 500 Guru stocks with high returns Tom Russo, David Winters, Larry Robbins, Warren Bu - Altria, Cigna, Philip Morris Are Outperforming The S&P 500
The following are some of the stocks that outperformed the S&P 500 Index over the last 12 months and have been bought by gurus during the last quarter. More...

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Tom Russo on Emerging Markets and Berkshire Share Buy Back Russo has large exposure to both but is not pessimistic Tom Russo - Tom Russo On Emerging Markets And Berkshire Share Buy Back
Tom Russo (Trades, Portfolio), partner at Gardner Russo & Gardner, told Bloomberg yesterday that value investors will make money over time, and it will depend on the ability of the companies in which they've invested to reinvest the money over time. Russo has large positions in Richemont (XSWX:CFR), Pernod (XPAR:RI), Heineken (XAMS:HEIA), which have large exposure to emerging markets. But most of his companies have a long-term outlook and ability to withstand sudden downturns such as China, he said. More...

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Tom Russo Cuts Berkshire, Unilever Stakes An overview of Russo's largest 3rd quarter trades Tom Russo - Tom Russo Cuts Berkshire, Unilever Stakes
Tom Russo joined Gardner Russo & Gardner as a partner in 1989. His investment philosophy emphasizes return on invested capital, principally through equity investments. His approach to stock selection stresses two main points: value and price. He manages a portfolio composed of 104 stocks with total value of $11,073 million. More...

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AB Inbev and SABMiller Agree on Merger SABMiller agrees to $108 billion acquisition price Tom Russo - AB Inbev And SABMiller Agree On Merger
On Wednesday, Nov. 11, Anheuser-Busch InBev (NYSE:BUD) and SABMiller PLC (SBMRY) reported a merger agreement that would combine the world’s two largest beer makers. After nearly two months of negotiations, SABMiller has agreed to the acquisition which, at its final price, values SABMiller at $108 billion or $66.50 per SABMiller share. More...

CONSUMER GOODS


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Global Value Investing – Tom Russo Talks at Google Veteran value investor shares wisdom from experience Tom Russo,Warren Buffett - Global Value Investing – Tom Russo Talks At Google
Long-term patient value investing: The majority of the money that trades on the stock market every day is certainly not done so using that philosophy. More...

Tom Russo,video


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My Evolution as an 'Intrinsic Value Seeker' Shortfalls and missing points on conventional wisdom about intrinsic value Tom Russo,Donald Yacktman,David Rolfe - My Evolution As An 'Intrinsic Value Seeker'
I’ve been asked many times, “What do you think the intrinsic value is for this company?” Two years ago my answer would be “the intrinsic value of this company is $50, if you assume x% of free cash flow growth in the next few years and y% terminal free cash flow growth and y% discount rate.” If you ask me this question today, I would say, “First of all, that depends on my opportunity cost, which is reflected in the discount rate I use and secondly, over what period of time?” More...

BUFFETT, INTRINSIC VALUE, MARGIN OF SAFETY, WFC, BRK.B, KO, MKL, AXP


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Tom Russo Adds to Long-Time Holding in Philip Morris Tom Russo - Tom Russo Adds To Long-Time Holding In Philip Morris
Tom Russo (Trades, Portfolio) looks for value and price when making stock selections. If the firm in which he is a general partner with responsibility for $3 billion, Semper Vic Partners, can be said to reflect the influence of his investing philosophy, its success is undeniable. Semper Vic Partners has produced returns of 6.1%, 21.9% and 24.4% in the last three years. More...

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Value Investor Tom Russo on the Power of Consumer Brands
Early in his career, Warren Buffett (Trades, Portfolio) achieved tremendous investment returns by purchasing cheap but not great companies, and then waited for the market to properly value the company. More...

Tom Russo, Video


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Nestle and Capacity to Suffer Tom Russo - Nestle And Capacity To Suffer
It is no secret to the readers on this forum that I am huge admirer of Tom Russo (Trades, Portfolio) and the idea of the “capacity to suffer.” Businesses with capacity to suffer are rare to find so once you find one, you would want to keep them for a very long time. The question then becomes, how can we identify businesses with the capacity to suffer when we don’t have access to management team the way Russo does? Here I am reminded of the answer Tom Gayner gave to a question he was asked on the Google Campus (link to the article): More...

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Tom Russo on Wealth Track – Long-Term Value Tom Russo - Tom Russo On Wealth Track – Long-Term Value
I’ve written in the past on what I have learned from one of the greatest global investors – Tom Russo (Trades, Portfolio). I think the concepts of “capacity to suffer” and “capacity to reinvest” are profound. In this outstanding interview with Consuela Mack, Mr. Russo generously shared his further thoughts on “capacity to reinvest.” More...

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How Harley-Davidson Stumbled – Value Investor Tom Russo
A strong brand name is a powerful moat abound a business. More...

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Value Investor Tom Russo Discusses Portfolio Management And His Favorite Valuation Metric Tom Russo - Value Investor Tom Russo Discusses Portfolio Management And His Favorite Valuation Metric
In 2008 Tom Russo (Trades, Portfolio) was able to take profits on several of his core U.S. focused businesses and redeploy those proceeds into bargain international operators. More...

TOM RUSSO, INTERVIEW


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A Weekend in Omaha Tom Russo - A Weekend In Omaha
This past weekend, I was lucky enough to attend my fourth Berkshire Hathaway (BRK.B) shareholder meeting in Omaha, Nebraska. A few readers that I regularly talk with wanted to know how it went in addition to my takeaways from the weekend’s events; those are the things the remainder of this article will focus on. More...

LONG BRK.B


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20 Questions Newsletter Featuring Tom Russo is Ready for Downlaod Tom Russo - 20 Questions Newsletter Featuring Tom Russo Is Ready For Downlaod
We have recently added "20 Questions with the Gurus" to our website for subscribers to enjoy. Each month, we will interview a new guru, using the questions you submit. Premium members will have higher priority when we choose which questions to submit. More...

TOM RUSSO, NEWSLETTER, GLOBAL INVESTING


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Globetrotting the Tom Russo Way Tom Russo - Globetrotting The Tom Russo Way
Almost three weeks ago, I wrote an article on global investing, which you can find here. In the end, I stated the following: More...

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