Tom Russo’s Top 5 Holdings

2. Nestlé S.A. (OTC:NSRGY)

Number of Hedge Fund Holders: 4

Gardner Russo & Quinn’s Stake Value: $996,867,532

Nestlé S.A. (OTC:NSRGY) operates as a food and beverage company worldwide. Tom Russo’s Gardner Russo & Gardner is the largest stakeholder of Nestlé S.A. (OTC:NSRGY) as of the first quarter of 2023, with 8.19 million shares worth approximately $1 billion, representing 10.34% of the total securities. On February 16, Nestlé S.A. (OTC:NSRGY) reported FY 2022 non-GAAP EPS of CHF4.80 and a revenue of CHF94.42 billion, up 8.4% year-over-year. 

According to Insider Monkey’s first quarter database, 4 hedge funds were bullish on Nestlé S.A. (OTC:NSRGY), with collective stakes worth just over $1 billion, compared to 4 funds in the prior quarter worth $1.60 billion. 

Here is what Polen International Growth Fund has to say about Nestlé S.A. (OTC:NSRGY) in its Q1 2022 investor letter:

“We exited the Portfolio’s position in Nestlé in favor of what we believed to be a more compelling investment idea. Nestlé continues to enjoy competitive advantages related to its scale, distribution, and brand equity. We think the management team has positioned the business for success in recent years, with several divestitures along the way and believe the company is still likely to deliver consistent results. That said, our research indicates that returns may be at the lower end of our expected range and other opportunities appear more attractive.”