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 |
Analog Devices
ADI
|
+$27.8M |
| 2 |
Dollar General
DG
|
+$8.41M |
| 3 |
Regeneron Pharmaceuticals
REGN
|
+$4.66M |
| 4 |
Texas Pacific Land
TPL
|
+$3.36M |
| 5 |
ATVI
Activision Blizzard
ATVI
|
+$2.47M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
MXIM
Maxim Integrated Products
MXIM
|
+$26.6M |
| 2 |
International Flavors & Fragrances
IFF
|
+$10.9M |
| 3 |
WIX.com
WIX
|
+$348K |
| 4 |
Netflix
NFLX
|
+$227K |
| 5 |
BNT
Brookfield Wealth Solutions
BNT
|
+$38 |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 40.88% |
| 2 | Consumer Discretionary | 13.46% |
| 3 | Communication Services | 11.64% |
| 4 | Industrials | 11.43% |
| 5 | Technology | 9.51% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
MSCI
MSCI
$41B
| $83.3M | 1.05% |
137,000
| – | – |
|
27
American Express
AXP
$227B
| $81.1M | 1.03% |
484,250
| – | – |
|
|
SCHW
28
Charles Schwab
SCHW
$194B
| $79.8M | 1.01% |
1,095,300
| – | – |
|
29
General Dynamics
GD
$104B
| $75.9M | 0.96% |
387,000
| – | – |
|
30
Moody's
MCO
$87.2B
| $75M | 0.95% |
211,240
| – | – |
|
31
Mastercard
MA
$509B
| $72.2M | 0.91% |
207,540
| – | – |
|
32
Illinois Tool Works
ITW
$80.4B
| $67.7M | 0.86% |
327,500
| – | – |
|
33
Ecolab
ECL
$78.9B
| $64.5M | 0.82% |
309,300
| – | – |
|
34
Progressive
PGR
$127B
| $63.5M | 0.8% |
702,500
+9,200
| +1% | +$877K |
|
35
S&P Global
SPGI
$127B
| $63.1M | 0.8% |
148,540
| – | – |
|
36
Apollo Global Management
APO
$78.4B
| $62.4M | 0.79% |
1,012,500
| – | – |
|
37
T. Rowe Price
TROW
$23.8B
| $61.8M | 0.78% |
314,000
| – | – |
|
38
Carlyle Group
CG
$17.6B
| $58.4M | 0.74% |
1,235,000
+11,000
| +0.9% | +$527K |
|
39
Starbucks
SBUX
$122B
| $58.3M | 0.74% |
528,318
| – | – |
|
40
Whirlpool
WHR
$2.63B
| $57.3M | 0.72% |
280,949
+4,100
| +1% | +$899K |
|
41
Caterpillar
CAT
$381B
| $55.2M | 0.7% |
287,500
| – | – |
|
42
Norfolk Southern
NSC
$78.8B
| $54.9M | 0.69% |
229,500
| – | – |
|
43
Nike
NKE
$60.5B
| $53.2M | 0.67% |
366,000
| – | – |
|
44
Brown-Forman Class A
BF.A
$13.3B
| $52.8M | 0.67% |
843,000
| – | – |
|
45
Enovis
ENOV
$1.5B
| $52.1M | 0.66% |
659,476
| – | – |
|
46
Accenture
ACN
$113B
| $51M | 0.64% |
159,400
| – | – |
|
47
Meta Platforms (Facebook)
META
$1.4T
| $50.2M | 0.63% |
147,803
| – | – |
|
48
Factset
FDS
$10.7B
| $46.1M | 0.58% |
116,720
| – | – |
|
49
NVR
NVR
$16.9B
| $45.7M | 0.58% |
9,539
| – | – |
|
|
50
Regeneron Pharmaceuticals
REGN
$85.9B
| $45M | 0.57% |
74,300
+7,500
| +11% | +$4.66M |
|
Similar funds
Tom Gayner's Q3 2021 Portfolio in Review
As of Q3 2021, Tom Gayner held 128 positions worth $7.91B, up 0.13% from $7.9B the previous quarter. Its ten largest holdings account for 43% of the portfolio.
Trading was light in Q3 2021: portfolio turnover was 4.7%. Tom Gayner opened 3 new positions and exited 3, leaving the 128-position portfolio largely intact.
By sector, the portfolio is most concentrated in Financials at 41% of assets, up from 41% a quarter earlier, followed by Consumer Discretionary and Communication Services.
- Tom Gayner's largest Q3 2021 buy was Dollar General: 37,250 shares worth $7.9M.
- Tom Gayner added most to Analog Devices in Q3 2021, an estimated $27.8M increase.
- Tom Gayner's biggest Q3 2021 reduction was International Flavors & Fragrances, cutting an estimated $10.9M.
- Tom Gayner fully exited Maxim Integrated Products in Q3 2021, selling an estimated $26.6M.
- Tom Gayner's ten largest holdings make up 43% of its $7.91B portfolio in Q3 2021.
- Tom Gayner opened 3 new positions and closed 3 in Q3 2021.
- Tom Gayner's portfolio value rose 0.13% quarter-over-quarter to $7.91B.
Based on Markel Group's 13F filing for Q3 2021, filed 5 Nov 2021.