Tom Russo's Strategic Moves: Significant Reduction in JPMorgan Chase & Co

Exploring the Investment Shifts in Tom Russo (Trades, Portfolio)'s Portfolio

Tom Russo (Trades, Portfolio) recently submitted the 13F filing for the second quarter of 2025, providing insights into his investment moves during this period. Thomas A. Russo joined Gardner Investments as a partner in 1989. In 2014, Mr. Russo became the Managing Member of the firm. Mr. Russo serves as Managing Member of Gardner Russo & Quinn LLC and of Semper Vic Partners GP, LP, which oversees two "global value," long-only, equity investment partnerships, the first of which Mr. Russo founded in 1983. Mr. Russo oversees more than $8 billion distributed between Semper Vic partnerships and separate accounts managed in parallel fashion. 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.

Summary of New Buy

Tom Russo (Trades, Portfolio) added a total of 2 stocks, among them:

The most significant addition was Deliveroo PLC (LSE:ROO), with 390,000 shares, accounting for 0.01% of the portfolio and a total value of 940,070 million. The second largest addition to the portfolio was Zalando SE (XTER:ZAL), consisting of 26,000 shares, representing approximately 0.01% of the portfolio, with a total value of 853,040.

Key Position Increases

Tom Russo (Trades, Portfolio) also increased stakes in a total of 13 stocks, among them:

The most notable increase was Uber Technologies Inc (NYSE:UBER), with an additional 465,047 shares, bringing the total to 4,896,722 shares. This adjustment represents a significant 10.49% increase in share count, a 0.46% impact on the current portfolio, with a total value of $456,864,160. The second largest increase was DoorDash Inc (NASDAQ:DASH), with an additional 173,095 shares, bringing the total to 966,760. This adjustment represents a significant 21.81% increase in share count, with a total value of $238,316,010.

Key Position Reduces

Tom Russo (Trades, Portfolio) also reduced positions in 49 stocks. The most significant changes include:

Reduced JPMorgan Chase & Co (NYSE:JPM) by 469,654 shares, resulting in a -45.01% decrease in shares and a -1.29% impact on the portfolio. The stock traded at an average price of $255.03 during the quarter and has returned 11.00% over the past 3 months and 23.17% year-to-date. Reduced Berkshire Hathaway Inc (NYSE:BRK.A) by 33 shares, resulting in a -1.99% reduction in shares and a -0.3% impact on the portfolio. The stock traded at an average price of $762,376 during the quarter and has returned -6.72% over the past 3 months and 5.08% year-to-date.

Story Continues

Portfolio Overview

At the second quarter of 2025, Tom Russo (Trades, Portfolio)'s portfolio included 85 stocks, with top holdings including 12.58% in Berkshire Hathaway Inc (NYSE:BRK.A), 10.05% in Mastercard Inc (NYSE:MA), 9.6% in Alphabet Inc (NASDAQ:GOOG), 9.43% in Philip Morris International Inc (NYSE:PM), and 7.72% in Netflix Inc (NASDAQ:NFLX).

The holdings are mainly concentrated in 10 of all the 11 industries: Financial Services, Consumer Defensive, Communication Services, Consumer Cyclical, Technology, Industrials, Basic Materials, Energy, Healthcare, and Real Estate.

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.

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