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 |
LPL Financial
LPLA
|
+$40.5M |
| 2 |
Dollar General
DG
|
+$12.1M |
| 3 |
Cable One
CABO
|
+$7.25M |
| 4 |
Tyson Foods
TSN
|
+$6.79M |
| 5 |
Old Dominion Freight Line
ODFL
|
+$4.86M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
LSXMK
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
|
+$17.1M |
| 2 |
LSXMA
Liberty Media Corporation Series A Liberty SiriusXM Common Stock
LSXMA
|
+$14M |
| 3 |
Healthcare Services Group
HCSG
|
+$4.6M |
| 4 |
Sony
SONY
|
+$4.19M |
| 5 |
LBRDK
Liberty Broadband Class C
LBRDK
|
+$1.99M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 42.47% |
| 2 | Industrials | 13.79% |
| 3 | Consumer Discretionary | 11.49% |
| 4 | Technology | 10.16% |
| 5 | Communication Services | 9.68% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Apollo Global Management
APO
$78.4B
| $90.9M | 1.1% |
1,012,500
| – | – |
|
27
KKR & Co
KKR
$97.4B
| $89.4M | 1.08% |
1,451,800
+2,777
| +0.2% | +$169K |
|
28
General Dynamics
GD
$104B
| $86.4M | 1.04% |
391,000
| – | – |
|
29
Mastercard
MA
$509B
| $82.2M | 0.99% |
207,540
| – | – |
|
30
Caterpillar
CAT
$381B
| $81.7M | 0.99% |
299,100
+6,100
| +2% | +$1.65M |
|
31
Meta Platforms (Facebook)
META
$1.4T
| $77.7M | 0.94% |
258,881
+6,100
| +2% | +$1.84M |
|
32
Illinois Tool Works
ITW
$80.4B
| $75.4M | 0.91% |
327,500
| – | – |
|
33
MSCI
MSCI
$41B
| $73.3M | 0.88% |
142,850
| – | – |
|
34
Brookfield Asset Management
BAM
$83.5B
| $73.1M | 0.88% |
2,193,953
| – | – |
|
35
Alphabet (Google) Class A
GOOGL
$4.22T
| $72.6M | 0.88% |
555,000
+5,000
| +0.9% | +$647K |
|
36
American Express
AXP
$227B
| $72.2M | 0.87% |
484,250
| – | – |
|
|
37
LPL Financial
LPLA
$28.5B
| $71.6M | 0.86% |
301,264
+174,205
| +137% | +$40.5M |
|
|
SCHW
38
Charles Schwab
SCHW
$194B
| $70.1M | 0.85% |
1,276,766
+30,500
| +2% | +$1.84M |
|
39
Moody's
MCO
$87.2B
| $67.6M | 0.82% |
213,890
| – | – |
|
40
NVR
NVR
$16.9B
| $64.5M | 0.78% |
10,824
+305
| +3% | +$1.89M |
|
|
41
Dollar General
DG
$27.2B
| $62.4M | 0.75% |
590,250
+81,000
| +16% | +$12.1M |
|
|
ATVI
42
DELISTED
Activision Blizzard
ATVI
| $60.9M | 0.74% |
650,600
| – | – |
|
43
S&P Global
SPGI
$127B
| $55.1M | 0.66% |
150,690
| – | – |
|
44
Rollins
ROL
$17.8B
| $51.6M | 0.62% |
1,383,275
+27,000
| +2% | +$1.09M |
|
45
Factset
FDS
$10.7B
| $51M | 0.62% |
116,720
| – | – |
|
46
HEICO Corp Class A
HEI.A
$36.5B
| $49.1M | 0.59% |
379,644
| – | – |
|
47
Brown-Forman Class A
BF.A
$13.3B
| $49M | 0.59% |
843,000
| – | – |
|
48
Accenture
ACN
$113B
| $49M | 0.59% |
159,400
| – | – |
|
49
Starbucks
SBUX
$122B
| $48.6M | 0.59% |
532,318
| – | – |
|
50
Comcast
CMCSA
$95.3B
| $47M | 0.57% |
1,060,741
+1,000
| +0.1% | +$44.6K |
|
Similar funds
Tom Gayner's Q3 2023 Portfolio in Review
As of Q3 2023, Tom Gayner held 137 positions worth $8.28B, down 1.4% from $8.4B the previous quarter. Its ten largest holdings account for 39% of the portfolio.
Tom Gayner's Q3 2023 filing shows 6 new, 44 increased, 4 reduced and 4 closed positions. Its largest new stake was Liberty Live Group Series A: 98,000 shares worth $3.13M. The largest sale was Liberty Media Corporation Series C Liberty SiriusXM Common Stock, an estimated $17.1M.
By sector, the portfolio is most concentrated in Financials at 42% of assets, up from 41% a quarter earlier, followed by Industrials and Consumer Discretionary.
- Tom Gayner's largest Q3 2023 buy was Liberty Live Group Series A: 98,000 shares worth $3.13M.
- Tom Gayner added most to LPL Financial in Q3 2023, an estimated $40.5M increase.
- Tom Gayner's biggest Q3 2023 reduction was Sony, cutting an estimated $4.19M.
- Tom Gayner fully exited Liberty Media Corporation Series C Liberty SiriusXM Common Stock in Q3 2023, selling an estimated $17.1M.
- Tom Gayner's ten largest holdings make up 39% of its $8.28B portfolio in Q3 2023.
- Tom Gayner opened 6 new positions and closed 4 in Q3 2023.
- Tom Gayner's portfolio value fell 1.4% quarter-over-quarter to $8.28B.
Based on Markel Group's 13F filing for Q3 2023, filed 3 Nov 2023.