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 |
Progressive
PGR
|
+$12M |
| 2 |
Starbucks
SBUX
|
+$9.08M |
| 3 |
Capital One
COF
|
+$7.47M |
| 4 |
Alphabet (Google) Class C
GOOG
|
+$7.33M |
| 5 |
Goldman Sachs
GS
|
+$6.99M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
MON
Monsanto Co
MON
|
+$46.3M |
| 2 |
Moody's
MCO
|
+$14.6M |
| 3 |
Brown-Forman Class A
BF.A
|
+$11.3M |
| 4 |
Factset
FDS
|
+$9.69M |
| 5 |
PACCAR
PCAR
|
+$8.41M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 33.83% |
| 2 | Consumer Discretionary | 18.26% |
| 3 | Industrials | 12.08% |
| 4 | Healthcare | 10.06% |
| 5 | Consumer Staples | 8.82% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
NVO
26
Novo Nordisk
NVO
$207B
| $52.9M | 1.01% |
2,150,000
| – | – |
|
|
MRSH
27
Marsh
MRSH
$91.6B
| $50.3M | 0.96% |
609,500
| – | – |
|
28
Lowe's Companies
LOW
$121B
| $50M | 0.95% |
570,000
| – | – |
|
29
Elevance Health
ELV
$86.9B
| $49.2M | 0.94% |
224,000
| – | – |
|
30
Watsco Inc
WSO
$12.9B
| $46.8M | 0.89% |
258,500
+23,000
| +10% | +$3.99M |
|
|
31
Brown-Forman Class A
BF.A
$13.3B
| $45M | 0.85% |
843,000
-210,750
| -20% | -$11.3M |
|
32
3M
MMM
$92.3B
| $44.8M | 0.85% |
243,984
| – | – |
|
33
Travelers Companies
TRV
$75.8B
| $43.7M | 0.83% |
315,000
| – | – |
|
|
ITIC
34
Investors Title Co
ITIC
$546M
| $42.6M | 0.81% |
213,300
| – | – |
|
35
Caterpillar
CAT
$381B
| $41M | 0.78% |
278,000
| – | – |
|
|
OAK
36
DELISTED
OAKTREE CAPITAL GROUP, LLC
OAK
| $38M | 0.72% |
960,500
+74,000
| +8% | +$3.17M |
|
37
Enovis
ENOV
$1.5B
| $36.2M | 0.69% |
659,476
| – | – |
|
38
Illinois Tool Works
ITW
$80.4B
| $36M | 0.68% |
230,000
| – | – |
|
39
American Express
AXP
$227B
| $36M | 0.68% |
386,000
| – | – |
|
40
Ecolab
ECL
$78.9B
| $34M | 0.65% |
248,300
+19,500
| +9% | +$2.62M |
|
41
T. Rowe Price
TROW
$23.8B
| $33.9M | 0.64% |
314,000
| – | – |
|
|
42
Moody's
MCO
$87.2B
| $32.3M | 0.61% |
200,000
-90,000
| -31% | -$14.6M |
|
43
Mastercard
MA
$509B
| $31.9M | 0.61% |
182,100
| – | – |
|
44
Blackstone
BX
$108B
| $31.6M | 0.6% |
990,000
+140,000
| +16% | +$4.77M |
|
45
Norfolk Southern
NSC
$78.8B
| $31.2M | 0.59% |
229,500
| – | – |
|
46
Boeing
BA
$169B
| $31M | 0.59% |
94,400
| – | – |
|
47
Microsoft
MSFT
$3.59T
| $30.9M | 0.59% |
339,000
+27,000
| +9% | +$2.47M |
|
48
Hasbro
HAS
$13.2B
| $30.7M | 0.58% |
364,000
| – | – |
|
49
S&P Global
SPGI
$127B
| $28.1M | 0.53% |
147,000
| – | – |
|
|
50
Brown-Forman Class B
BF.B
$13.1B
| $25.8M | 0.49% |
474,187
+144,890
| +44% | +$6.87M |
|
Similar funds
Tom Gayner's Q1 2018 Portfolio in Review
As of Q1 2018, Tom Gayner held 144 positions worth $5.26B, down 0.68% from $5.3B the previous quarter. Its ten largest holdings account for 42% of the portfolio.
Tom Gayner's Q1 2018 filing shows 6 new, 42 increased, 5 reduced and 7 closed positions. Its largest new stake was Progressive: 210,000 shares worth $12.8M. The largest sale was Monsanto Co, an estimated $46.3M.
By sector, the portfolio is most concentrated in Financials at 34% of assets, up from 33% a quarter earlier, followed by Consumer Discretionary and Industrials.
- Tom Gayner's largest Q1 2018 buy was Progressive: 210,000 shares worth $12.8M.
- Tom Gayner added most to Starbucks in Q1 2018, an estimated $9.08M increase.
- Tom Gayner's biggest Q1 2018 reduction was Moody's, cutting an estimated $14.6M.
- Tom Gayner fully exited Monsanto Co in Q1 2018, selling an estimated $46.3M.
- Tom Gayner's ten largest holdings make up 42% of its $5.26B portfolio in Q1 2018.
- Tom Gayner opened 6 new positions and closed 7 in Q1 2018.
- Tom Gayner's portfolio value fell 0.68% quarter-over-quarter to $5.26B.
Based on Markel Group's 13F filing for Q1 2018, filed 27 Apr 2018.