Why Tom Russo Trimmed Alphabet and Mastercard by 4% | Investor Playbook
Deep Values: Value Investing Deep Dives · Nov 12, 2026 · 20:16
Deep Values: Value Investing Deep Dives
Deep Values: Value Investing Deep Dives · Nov 12, 2026 · 20:16
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In Q3 2026 Tom Russo trimmed all ten of his top U.S. holdings, cutting about 4% of his Alphabet and Mastercard shares, yet those ten names still hold 80.6% of his $8.42B portfolio. We look at what trimming without selling out says about his 'capacity to suffer' and how a patient owner runs a concentrated portfolio.
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Chapters
(0:00) DeepValues Q3 2026 Portfolio Review
(1:21) Limitations of 13F Filings
(2:00) Tom Russo and Brand Strength
(5:04) Top 10 Positions Analysis
(6:24) Portfolio Concentration Overview
(7:04) Q3 Capital Allocation Summary
(10:00) Limitations of 13F Filings
(12:26) Mastercard Forensic Valuation
(13:49) Philip Morris Forensic Valuation
(15:28) 10-Year Performance Clone
(16:26) Limitations of 13F Filings
(17:29) Lessons for Patient Investors
(19:29) Disclaimer
(19:51) Get the apps
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Disclaimer: educational and research content only. Not investment advice. Based on public sources that may be revised or interpreted differently. Do your own due diligence.
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Original sources
Alphabet (GOOG) Stock Analysis & Intrinsic Value: Neutral
Episodes: Deep Values: Value Investing Deep Dives
