A Big Fund’s $236 Million Investments in the Financial Sector: WFC, GS, AXP, PGR, PNC, JPM

Wall St. Watchdog reveals information regarding Gardner Russo Gardner’s top holdings in the Financial sector for the quarter ending September 30th, 2011. The firm held 32 stocks in the Financial sector at the end of the quarter with an aggregate market value of $236.802 million.

  • Wells Fargo & Company (NYSE:WFC): On 06/30/2011, Gardner Russo Gardner reported holding 8,183,365 shares with a market value of $229,625,218. This comprised 4.54% of the total portfolio. On 09/30/2011, Gardner Russo Gardner reported holding 8,658,622 shares with a market value of $208,845,970. This comprised 4.62% of the total portfolio. The net change in shares for this position over the two quarters is 475,257. About Company: Wells Fargo & Company is a diversified financial services company providing banking, insurance, investments, mortgage, leasing, credit cards, and consumer finance. The Company operates through physical stores, the Internet and other distribution channels across North America and elsewhere internationally.
  • Markel Corp. (NYSE:MKL): On 06/30/2011, Gardner Russo Gardner reported holding 23,394 shares with a market value of $9,282,973. This comprised 0.18% of the total portfolio. On 09/30/2011, Gardner Russo Gardner reported holding 22,394 shares with a market value of $7,997,569. This comprised 0.18% of the total portfolio. The net change in shares for this position over the two quarters is -1,000. About Company: Markel Corporation markets and underwrites specialty insurance products and programs to a variety of niche markets. The Company also underwrites a diverse property, casualty, marine, and aviation insurance and reinsurance business on a worldwide basis.
  • The Goldman Sachs Group Inc. (NYSE:GS): On 06/30/2011, Gardner Russo Gardner reported holding 63,550 shares with a market value of $8,457,869. This comprised 0.17% of the total portfolio. On 09/30/2011, Gardner Russo Gardner reported holding 63,375 shares with a market value of $5,992,106. This comprised 0.13% of the total portfolio. The net change in shares for this position over the two quarters is -175. About Company: The Goldman Sachs Group, Inc., a bank holding company, is a global investment banking and securities firm specializing in investment banking, trading and principal investments, asset management and securities services. The Company provides services to corporations, financial institutions, governments, and high-net worth individuals.
  • American Express Company (NYSE:AXP): On 06/30/2011, Gardner Russo Gardner reported holding 123,650 shares with a market value of $6,392,705. This comprised 0.13% of the total portfolio. On 09/30/2011, Gardner Russo Gardner reported holding 115,250 shares with a market value of $5,174,725. This comprised 0.11% of the total portfolio. The net change in shares for this position over the two quarters is -8,400. About Company: American Express Company is a global payment and travel company. The Company’s principal products and services are charge and credit payment card products and travel-related services offered to consumers and businesses around the world.
  • Progressive Corp. (NYSE:PGR): On 06/30/2011, Gardner Russo Gardner reported holding 122,132 shares with a market value of $2,611,182. This comprised 0.05% of the total portfolio. On 09/30/2011, Gardner Russo Gardner reported holding 121,132 shares with a market value of $2,151,304. This comprised 0.05% of the total portfolio. The net change in shares for this position over the two quarters is -1,000. About Company: The Progressive Corporation is an insurance holding company. The Company, through its subsidiaries, provide personal and commercial automobile insurance and other specialty property-casualty insurance and related services throughout the United States.
  • Pnc Financial Services Group Inc. (NYSE:PNC): On 06/30/2011, Gardner Russo Gardner reported holding 18,374 shares with a market value of $1,095,274. This comprised 0.02% of the total portfolio. On 09/30/2011, Gardner Russo Gardner reported holding 37,774 shares with a market value of $1,820,329. This comprised 0.04% of the total portfolio. The net change in shares for this position over the two quarters is 19,400. About Company: PNC Financial Services Group, Inc. is a diversified financial services organization. The Company provides regional banking, wholesale banking, and asset management services nationally and in the Company’s primary regional markets.
  • Eaton Vance Senior Income Trust (NYSE:EVF): On 06/30/2011, Gardner Russo Gardner reported holding 135,998 shares with a market value of $979,186. This comprised 0.02% of the total portfolio. On 09/30/2011, Gardner Russo Gardner reported holding 136,708 shares with a market value of $862,627. This comprised 0.02% of the total portfolio. The net change in shares for this position over the two quarters is 710. About Company: Eaton Vance Senior Income Trust is a non-diversified, closed-end fund incorporated in the USA. The Fund’s objective is to provide a high level of current income consistent with the preservation of capital. The Fund invests primarily in senior, secured floating rate loans.
  • Fulton Financial Corp. (NASDAQ:FULT): On 06/30/2011, Gardner Russo Gardner reported holding 98,591 shares with a market value of $1,055,910. This comprised 0.02% of the total portfolio. On 09/30/2011, Gardner Russo Gardner reported holding 97,591 shares with a market value of $746,571. This comprised 0.02% of the total portfolio. The net change in shares for this position over the two quarters is -1,000. About Company: Fulton Financial Corporation is a multi-bank holding company. The Banks offer a full range of general retail and commercial banking services, including deposits, loans, equipment leasing and financing, and credit cards. Fulton operates in Pennsylvania, Maryland, Delaware, and New Jersey.
  • Vornado Realty Trust (NYSE:VNO): On 06/30/2011, Gardner Russo Gardner reported holding 10,000 shares with a market value of $931,800. This comprised 0.02% of the total portfolio. On 09/30/2011, Gardner Russo Gardner reported holding 10,000 shares with a market value of $746,200. This comprised 0.02% of the total portfolio. The net change in shares for this position over the two quarters is 0. About Company: Vornado Realty Trust is a fully-integrated real estate investment trust. The trust owns, manages and leases office properties in New York City, Washington, DC, and California. The Company also owns retail properties Washington, DC and Puerto Rico.
  • Jpmorgan Chase & Co. (NYSE:JPM): On 06/30/2011, Gardner Russo Gardner reported holding 23,000 shares with a market value of $941,620. This comprised 0.02% of the total portfolio. On 09/30/2011, Gardner Russo Gardner reported holding 23,000 shares with a market value of $692,760. This comprised 0.02% of the total portfolio. The net change in shares for this position over the two quarters is 0. About Company: JPMorgan Chase & Co. provides global financial services and retail banking. The Company provides services such as investment banking, treasury and securities services, asset management, private banking, card member services, commercial banking, and home finance. JP Morgan Chase serves business enterprises, institutions, and individuals.

(Note: Data regarding Gardner Russo Gardner’s stock holdings are sourced from whalewisdom.com. All data are assumed to be accurate.)

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