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 |
Hagerty
HGTY
|
+$46.8M |
| 2 |
ATVI
Activision Blizzard
ATVI
|
+$8.06M |
| 3 |
Dollar General
DG
|
+$7.18M |
| 4 |
Healthcare Services Group
HCSG
|
+$5.54M |
| 5 |
FedEx
FDX
|
+$4.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
International Flavors & Fragrances
IFF
|
+$8.52M |
| 2 |
Illumina
ILMN
|
+$1.62M |
| 3 |
Citigroup
C
|
+$1.48M |
| 4 |
D.R. Horton
DHI
|
+$1.18M |
| 5 |
Lennar Class B
LEN.B
|
+$1.01M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 41.02% |
| 2 | Consumer Discretionary | 13.89% |
| 3 | Industrials | 11.37% |
| 4 | Communication Services | 10.62% |
| 5 | Technology | 9.82% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
SCHW
26
Charles Schwab
SCHW
$194B
| $92.1M | 1.05% |
1,095,300
| – | – |
|
27
MSCI
MSCI
$41B
| $83.9M | 0.96% |
137,000
| – | – |
|
28
Moody's
MCO
$87.2B
| $82.5M | 0.94% |
211,240
| – | – |
|
29
Illinois Tool Works
ITW
$80.4B
| $80.8M | 0.93% |
327,500
| – | – |
|
30
General Dynamics
GD
$104B
| $80.7M | 0.92% |
387,000
| – | – |
|
31
American Express
AXP
$227B
| $79.2M | 0.91% |
484,250
| – | – |
|
32
Mastercard
MA
$509B
| $74.6M | 0.85% |
207,540
| – | – |
|
33
Progressive
PGR
$127B
| $74M | 0.85% |
721,000
+18,500
| +3% | +$1.77M |
|
34
Apollo Global Management
APO
$78.4B
| $73.3M | 0.84% |
1,012,500
| – | – |
|
35
Ecolab
ECL
$78.9B
| $72.6M | 0.83% |
309,300
| – | – |
|
36
S&P Global
SPGI
$127B
| $70.1M | 0.8% |
148,540
| – | – |
|
37
Norfolk Southern
NSC
$78.8B
| $68.3M | 0.78% |
229,500
| – | – |
|
38
Carlyle Group
CG
$17.6B
| $67.9M | 0.78% |
1,237,000
+2,000
| +0.2% | +$109K |
|
39
Whirlpool
WHR
$2.63B
| $66.2M | 0.76% |
282,049
+1,100
| +0.4% | +$242K |
|
40
Accenture
ACN
$113B
| $66.1M | 0.76% |
159,400
| – | – |
|
41
Starbucks
SBUX
$122B
| $61.8M | 0.71% |
528,318
| – | – |
|
42
T. Rowe Price
TROW
$23.8B
| $61.7M | 0.71% |
314,000
| – | – |
|
43
Nike
NKE
$60.5B
| $61M | 0.7% |
366,000
| – | – |
|
44
Caterpillar
CAT
$381B
| $59.4M | 0.68% |
287,500
| – | – |
|
45
Brown-Forman Class A
BF.A
$13.3B
| $57.1M | 0.65% |
843,000
| – | – |
|
46
Factset
FDS
$10.7B
| $56.7M | 0.65% |
116,720
| – | – |
|
47
NVR
NVR
$16.9B
| $56.4M | 0.65% |
9,539
| – | – |
|
48
Rockwell Automation
ROK
$48.5B
| $52.6M | 0.6% |
150,900
+3,000
| +2% | +$993K |
|
49
Enovis
ENOV
$1.5B
| $52.2M | 0.6% |
659,476
| – | – |
|
50
Regeneron Pharmaceuticals
REGN
$85.9B
| $50.1M | 0.57% |
79,300
+5,000
| +7% | +$3.07M |
|
Similar funds
Tom Gayner's Q4 2021 Portfolio in Review
As of Q4 2021, Tom Gayner held 130 positions worth $8.74B, up 10% from $7.91B the previous quarter. Its ten largest holdings account for 42% of the portfolio.
Tom Gayner's Q4 2021 filing shows 5 new, 25 increased, 1 reduced and 10 closed positions. Its largest new stake was Hagerty: 3,000,000 shares worth $42.5M. The largest sale was International Flavors & Fragrances, an estimated $8.52M.
By sector, the portfolio is most concentrated in Financials at 41% of assets, up from 41% a quarter earlier, followed by Consumer Discretionary and Industrials.
- Tom Gayner's largest Q4 2021 buy was Hagerty: 3,000,000 shares worth $42.5M.
- Tom Gayner added most to Activision Blizzard in Q4 2021, an estimated $8.06M increase.
- Tom Gayner's biggest Q4 2021 reduction was International Flavors & Fragrances, cutting an estimated $8.52M.
- Tom Gayner fully exited Illumina in Q4 2021, selling an estimated $1.62M.
- Tom Gayner's ten largest holdings make up 42% of its $8.74B portfolio in Q4 2021.
- Tom Gayner opened 5 new positions and closed 10 in Q4 2021.
- Tom Gayner's portfolio value rose 10% quarter-over-quarter to $8.74B.
Based on Markel Group's 13F filing for Q4 2021, filed 4 Feb 2022.