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 |
ESAB
ESAB
|
+$18.3M |
| 2 |
Netflix
NFLX
|
+$9.53M |
| 3 |
Watsco Inc
WSO
|
+$6.58M |
| 4 |
SEI Investments
SEIC
|
+$6.41M |
| 5 |
Cable One
CABO
|
+$6.36M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Enovis
ENOV
|
+$18.1M |
| 2 |
Equifax
EFX
|
+$11.1M |
| 3 |
Ecolab
ECL
|
+$5.8M |
| 4 |
Y
Alleghany Corp
Y
|
+$3.67M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 42.06% |
| 2 | Industrials | 12.14% |
| 3 | Consumer Discretionary | 11.34% |
| 4 | Communication Services | 9.89% |
| 5 | Technology | 9.79% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
General Dynamics
GD
$104B
| $86.5M | 1.24% |
391,000
+500
| +0.1% | +$115K |
|
|
SCHW
27
Charles Schwab
SCHW
$194B
| $69.7M | 1% |
1,103,300
+8,000
| +0.7% | +$552K |
|
28
American Express
AXP
$227B
| $67.1M | 0.96% |
484,250
| – | – |
|
29
KKR & Co
KKR
$97.4B
| $66M | 0.94% |
1,424,808
+4,158
| +0.3% | +$218K |
|
30
Mastercard
MA
$509B
| $65.5M | 0.94% |
207,540
| – | – |
|
31
Illinois Tool Works
ITW
$80.4B
| $59.7M | 0.85% |
327,500
| – | – |
|
32
MSCI
MSCI
$41B
| $58.5M | 0.84% |
141,950
+250
| +0.2% | +$109K |
|
33
Moody's
MCO
$87.2B
| $57.9M | 0.83% |
212,990
| – | – |
|
34
Brown-Forman Class A
BF.A
$13.3B
| $57M | 0.82% |
843,000
| – | – |
|
35
Norfolk Southern
NSC
$78.8B
| $52.2M | 0.75% |
229,500
| – | – |
|
36
Caterpillar
CAT
$381B
| $51.4M | 0.73% |
287,500
| – | – |
|
37
S&P Global
SPGI
$127B
| $50.5M | 0.72% |
149,790
| – | – |
|
38
Apollo Global Management
APO
$78.4B
| $49.1M | 0.7% |
1,012,500
| – | – |
|
39
Regeneron Pharmaceuticals
REGN
$85.9B
| $47.5M | 0.68% |
80,300
| – | – |
|
40
Factset
FDS
$10.7B
| $44.9M | 0.64% |
116,720
| – | – |
|
41
Accenture
ACN
$113B
| $44.3M | 0.63% |
159,400
| – | – |
|
42
Rollins
ROL
$17.8B
| $44.1M | 0.63% |
1,262,275
+14,000
| +1% | +$481K |
|
43
Whirlpool
WHR
$2.63B
| $43.7M | 0.62% |
282,049
| – | – |
|
|
44
Ecolab
ECL
$78.9B
| $42.2M | 0.6% |
274,300
-35,000
| -11% | -$5.8M |
|
45
Starbucks
SBUX
$122B
| $40.7M | 0.58% |
532,318
+3,000
| +0.6% | +$230K |
|
46
Carlyle Group
CG
$17.6B
| $39.2M | 0.56% |
1,237,000
| – | – |
|
47
NVR
NVR
$16.9B
| $38.7M | 0.55% |
9,659
+120
| +1% | +$511K |
|
48
Dollar General
DG
$27.2B
| $37.5M | 0.54% |
152,750
+27,000
| +21% | +$6.3M |
|
49
Nike
NKE
$60.5B
| $37.4M | 0.53% |
366,000
| – | – |
|
50
Alphabet (Google) Class A
GOOGL
$4.22T
| $36.3M | 0.52% |
333,000
+23,000
| +7% | +$2.71M |
|
Similar funds
Tom Gayner's Q2 2022 Portfolio in Review
As of Q2 2022, Tom Gayner held 132 positions worth $6.99B, down 17% from $8.43B the previous quarter. Its ten largest holdings account for 41% of the portfolio.
Tom Gayner's Q2 2022 filing shows 6 new, 45 increased, 3 reduced and 1 closed positions. Its largest new stake was ESAB: 378,356 shares worth $16.6M. The largest sale was Enovis, an estimated $18.1M.
By sector, the portfolio is most concentrated in Financials at 42% of assets, down from 43% a quarter earlier, followed by Industrials and Consumer Discretionary.
- Tom Gayner's largest Q2 2022 buy was ESAB: 378,356 shares worth $16.6M.
- Tom Gayner added most to Watsco Inc in Q2 2022, an estimated $6.58M increase.
- Tom Gayner's biggest Q2 2022 reduction was Enovis, cutting an estimated $18.1M.
- Tom Gayner fully exited Alleghany Corp in Q2 2022, selling an estimated $3.67M.
- Tom Gayner's ten largest holdings make up 41% of its $6.99B portfolio in Q2 2022.
- Tom Gayner opened 6 new positions and closed 1 in Q2 2022.
- Tom Gayner's portfolio value fell 17% quarter-over-quarter to $6.99B.
Based on Markel Group's 13F filing for Q2 2022, filed 5 Aug 2022.