Tom Gayner Markel Group
Tom Gayner is the CEO of Markel Group and long-time steward of its public equity portfolio. Often compared to a smaller-scale Berkshire-style model, Markel combines insurance operations with a carefully selected book of common stocks. Gayner is known for a patient, owner-oriented philosophy and for writing clearly about compounding, culture, and long-term business ownership.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Amazon
AMZN
|
+$9.82M |
| 2 |
Alphabet (Google) Class C
GOOG
|
+$9.32M |
| 3 |
Goldman Sachs
GS
|
+$4.96M |
| 4 |
Blackstone
BX
|
+$2.96M |
| 5 |
Brookfield
BN
|
+$2.95M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
ExxonMobil
XOM
|
+$31.8M |
| 2 |
Core Laboratories
CLB
|
+$11.1M |
| 3 |
NXP Semiconductors
NXPI
|
+$3.83M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 32.25% |
| 2 | Consumer Discretionary | 17.93% |
| 3 | Industrials | 11.37% |
| 4 | Healthcare | 11.24% |
| 5 | Consumer Staples | 8.98% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Enovis
ENOV
$1.5B
| $47.3M | 0.94% |
659,476
| – | – |
|
27
Texas Instruments
TXN
$241B
| $47.2M | 0.94% |
526,000
+28,000
| +6% | +$2.3M |
|
28
Brown-Forman Class A
BF.A
$13.3B
| $46.9M | 0.93% |
1,053,750
| – | – |
|
29
Analog Devices
ADI
$182B
| $46.3M | 0.92% |
537,811
+22,000
| +4% | +$1.77M |
|
|
SCHW
30
Charles Schwab
SCHW
$194B
| $46.2M | 0.92% |
1,057,000
| – | – |
|
31
Lowe's Companies
LOW
$121B
| $45.6M | 0.91% |
570,000
| – | – |
|
|
32
ExxonMobil
XOM
$679B
| $44.7M | 0.89% |
544,800
-400,000
| -42% | -$31.8M |
|
33
3M
MMM
$92.3B
| $42.8M | 0.85% |
243,984
| – | – |
|
34
Elevance Health
ELV
$86.9B
| $42.5M | 0.85% |
224,000
| – | – |
|
|
OAK
35
DELISTED
OAKTREE CAPITAL GROUP, LLC
OAK
| $41.7M | 0.83% |
886,500
+36,000
| +4% | +$1.68M |
|
36
Moody's
MCO
$87.2B
| $40.4M | 0.8% |
290,000
| – | – |
|
37
Travelers Companies
TRV
$75.8B
| $38.6M | 0.77% |
315,000
| – | – |
|
|
ITIC
38
Investors Title Co
ITIC
$546M
| $38.2M | 0.76% |
213,300
| – | – |
|
39
Watsco Inc
WSO
$12.9B
| $37.9M | 0.76% |
235,500
+16,000
| +7% | +$2.42M |
|
40
Hasbro
HAS
$13.2B
| $35.6M | 0.71% |
364,000
| – | – |
|
41
American Express
AXP
$227B
| $34.9M | 0.7% |
386,000
| – | – |
|
42
Caterpillar
CAT
$381B
| $34.7M | 0.69% |
278,000
| – | – |
|
43
Illinois Tool Works
ITW
$80.4B
| $34M | 0.68% |
230,000
| – | – |
|
44
Norfolk Southern
NSC
$78.8B
| $30.3M | 0.6% |
229,500
| – | – |
|
45
Factset
FDS
$10.7B
| $29.5M | 0.59% |
164,000
| – | – |
|
46
Ecolab
ECL
$78.9B
| $29.4M | 0.59% |
228,800
+10,000
| +5% | +$1.31M |
|
47
T. Rowe Price
TROW
$23.8B
| $28.5M | 0.57% |
314,000
| – | – |
|
|
48
Blackstone
BX
$108B
| $28.4M | 0.56% |
850,000
+90,000
| +12% | +$2.96M |
|
49
Mastercard
MA
$509B
| $25.7M | 0.51% |
182,100
+10,000
| +6% | +$1.32M |
|
50
Boeing
BA
$169B
| $24M | 0.48% |
94,400
+11,000
| +13% | +$2.56M |
|
Similar funds
Tom Gayner's Q3 2017 Portfolio in Review
As of Q3 2017, Tom Gayner held 141 positions worth $5.02B, up 7.1% from $4.69B the previous quarter. Its ten largest holdings account for 43% of the portfolio.
Trading was light in Q3 2017: portfolio turnover was 3.5%. Tom Gayner opened 3 new positions and exited 2, leaving the 141-position portfolio largely intact.
By sector, the portfolio is most concentrated in Financials at 32% of assets, up from 32% a quarter earlier, followed by Consumer Discretionary and Industrials.
- Tom Gayner's largest Q3 2017 buy was International Flavors & Fragrances: 8,000 shares worth $1.14M.
- Tom Gayner added most to Amazon in Q3 2017, an estimated $9.82M increase.
- Tom Gayner's biggest Q3 2017 reduction was ExxonMobil, cutting an estimated $31.8M.
- Tom Gayner fully exited Core Laboratories in Q3 2017, selling an estimated $11.1M.
- Tom Gayner's ten largest holdings make up 43% of its $5.02B portfolio in Q3 2017.
- Tom Gayner opened 3 new positions and closed 2 in Q3 2017.
- Tom Gayner's portfolio value rose 7.1% quarter-over-quarter to $5.02B.
Based on Markel Group's 13F filing for Q3 2017, filed 27 Oct 2017.