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 |
International Flavors & Fragrances
IFF
|
+$4.38M |
| 2 |
SEI Investments
SEIC
|
+$2.35M |
| 3 |
Healthcare Services Group
HCSG
|
+$2.03M |
| 4 |
Watsco Inc
WSO
|
+$460K |
| 5 |
O-I Glass
OI
|
+$342K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Mohawk Industries
MHK
|
+$8.92M |
| 2 |
Apple
AAPL
|
+$481K |
| 3 |
Citigroup
C
|
+$102K |
| 4 |
JPMorgan Chase
JPM
|
+$89.4K |
| 5 |
Match Group
MTCH
|
+$132 |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 39.33% |
| 2 | Consumer Discretionary | 14.32% |
| 3 | Communication Services | 11.97% |
| 4 | Industrials | 11.65% |
| 5 | Technology | 9.82% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Ecolab
ECL
$78.9B
| $66.9M | 1% |
309,300
| – | – |
|
27
Progressive
PGR
$127B
| $66.9M | 1% |
676,500
+2,000
| +0.3% | +$189K |
|
28
Illinois Tool Works
ITW
$80.4B
| $66.8M | 0.99% |
327,500
| – | – |
|
29
Brown-Forman Class A
BF.A
$13.3B
| $61.9M | 0.92% |
843,000
| – | – |
|
30
Moody's
MCO
$87.2B
| $61.3M | 0.91% |
211,100
+20
| +0% | +$5.59K |
|
31
MSCI
MSCI
$41B
| $61.2M | 0.91% |
137,000
| – | – |
|
32
American Express
AXP
$227B
| $58.5M | 0.87% |
483,950
| – | – |
|
|
SCHW
33
Charles Schwab
SCHW
$194B
| $58.1M | 0.87% |
1,095,300
| – | – |
|
34
General Dynamics
GD
$104B
| $57.6M | 0.86% |
387,000
| – | – |
|
35
Starbucks
SBUX
$122B
| $56.5M | 0.84% |
527,818
| – | – |
|
36
KKR & Co
KKR
$97.4B
| $56.1M | 0.84% |
1,386,400
+7,000
| +0.5% | +$264K |
|
37
Norfolk Southern
NSC
$78.8B
| $54.5M | 0.81% |
229,500
| – | – |
|
38
Caterpillar
CAT
$381B
| $52.3M | 0.78% |
287,500
| – | – |
|
39
Nike
NKE
$60.5B
| $51.8M | 0.77% |
366,000
| – | – |
|
40
Apollo Global Management
APO
$78.4B
| $49.6M | 0.74% |
1,012,500
| – | – |
|
41
Whirlpool
WHR
$2.63B
| $49M | 0.73% |
271,249
+310
| +0.1% | +$59.4K |
|
42
Rollins
ROL
$17.8B
| $48.6M | 0.72% |
1,243,275
| – | – |
|
43
S&P Global
SPGI
$127B
| $48.4M | 0.72% |
147,260
+260
| +0.2% | +$87.7K |
|
44
T. Rowe Price
TROW
$23.8B
| $47.5M | 0.71% |
314,000
| – | – |
|
45
Enovis
ENOV
$1.5B
| $43.4M | 0.65% |
659,476
| – | – |
|
46
Accenture
ACN
$113B
| $41.6M | 0.62% |
159,400
| – | – |
|
|
SRCL
47
DELISTED
Stericycle Inc
SRCL
| $41.2M | 0.61% |
593,700
| – | – |
|
48
3M
MMM
$92.3B
| $40.9M | 0.61% |
280,103
| – | – |
|
49
HEICO Corp Class A
HEI.A
$36.5B
| $40.2M | 0.6% |
343,144
| – | – |
|
50
Meta Platforms (Facebook)
META
$1.4T
| $39.7M | 0.59% |
145,320
+320
| +0.2% | +$87.7K |
|
Similar funds
Tom Gayner's Q4 2020 Portfolio in Review
As of Q4 2020, Tom Gayner held 115 positions worth $6.71B, up 14% from $5.9B the previous quarter. Its ten largest holdings account for 43% of the portfolio.
Trading was light in Q4 2020: portfolio turnover was 1.7%. Tom Gayner opened 2 new positions and made no exits, leaving the 115-position portfolio largely intact.
By sector, the portfolio is most concentrated in Financials at 39% of assets, up from 39% a quarter earlier, followed by Consumer Discretionary and Communication Services.
- Tom Gayner's largest Q4 2020 buy was People Inc: 3,580 shares worth $370K.
- Tom Gayner added most to International Flavors & Fragrances in Q4 2020, an estimated $4.38M increase.
- Tom Gayner's biggest Q4 2020 reduction was Mohawk Industries, cutting an estimated $8.92M.
- Tom Gayner's ten largest holdings make up 43% of its $6.71B portfolio in Q4 2020.
- Tom Gayner opened 2 new positions and closed 0 in Q4 2020.
- Tom Gayner's portfolio value rose 14% quarter-over-quarter to $6.71B.
Based on Markel Group's 13F filing for Q4 2020, filed 5 Feb 2021.