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 |
Franco-Nevada
FNV
|
+$12.4M |
| 2 |
Yum! Brands
YUM
|
+$9.31M |
| 3 |
Deere & Co
DE
|
+$8.95M |
| 4 |
LPL Financial
LPLA
|
+$8.7M |
| 5 |
HCA Healthcare
HCA
|
+$5.79M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
RTX Corp
RTX
|
+$22.5M |
| 2 |
Whirlpool
WHR
|
+$12.5M |
| 3 |
Equifax
EFX
|
+$7.05M |
| 4 |
EA
Electronic Arts
EA
|
+$6.94M |
| 5 |
Cracker Barrel
CBRL
|
+$4.68M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 44.29% |
| 2 | Industrials | 13.65% |
| 3 | Consumer Discretionary | 12.11% |
| 4 | Technology | 9.42% |
| 5 | Communication Services | 8.82% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
American Express
AXP
$227B
| $131M | 1.18% |
484,250
| – | – |
|
27
Apollo Global Management
APO
$78.4B
| $126M | 1.14% |
1,012,500
| – | – |
|
28
Caterpillar
CAT
$381B
| $125M | 1.12% |
318,750
+7,250
| +2% | +$2.5M |
|
|
29
LPL Financial
LPLA
$28.5B
| $121M | 1.09% |
520,404
+38,613
| +8% | +$8.7M |
|
30
General Dynamics
GD
$104B
| $118M | 1.06% |
391,000
| – | – |
|
31
NVR
NVR
$16.9B
| $115M | 1.03% |
11,704
+175
| +2% | +$1.53M |
|
32
Brookfield Asset Management
BAM
$83.5B
| $104M | 0.93% |
2,193,953
| – | – |
|
33
Mastercard
MA
$509B
| $102M | 0.92% |
207,540
| – | – |
|
34
Moody's
MCO
$87.2B
| $102M | 0.91% |
213,890
| – | – |
|
35
Johnson & Johnson
JNJ
$651B
| $99M | 0.89% |
610,800
| – | – |
|
36
Alphabet (Google) Class A
GOOGL
$4.22T
| $92M | 0.83% |
555,000
| – | – |
|
|
SCHW
37
Charles Schwab
SCHW
$194B
| $87.5M | 0.79% |
1,350,800
-15,966
| -1% | -$1.05M |
|
38
Archer Daniels Midland
ADM
$38.7B
| $87.4M | 0.79% |
1,463,300
| – | – |
|
39
Illinois Tool Works
ITW
$80.4B
| $85.8M | 0.77% |
327,500
| – | – |
|
40
MSCI
MSCI
$41B
| $83.3M | 0.75% |
142,850
| – | – |
|
41
S&P Global
SPGI
$127B
| $77.8M | 0.7% |
150,690
| – | – |
|
42
HEICO Corp Class A
HEI.A
$36.5B
| $77.4M | 0.7% |
379,644
| – | – |
|
43
Linde
LIN
$225B
| $73.9M | 0.67% |
155,000
+11,500
| +8% | +$5.25M |
|
44
Rollins
ROL
$17.8B
| $73.5M | 0.66% |
1,453,275
+14,000
| +1% | +$691K |
|
45
Ecolab
ECL
$78.9B
| $70M | 0.63% |
274,300
| – | – |
|
46
Dollar General
DG
$27.2B
| $62.8M | 0.57% |
742,250
+45,000
| +6% | +$4.93M |
|
47
Old Dominion Freight Line
ODFL
$42.8B
| $58.6M | 0.53% |
295,000
+15,500
| +6% | +$3.02M |
|
48
Starbucks
SBUX
$122B
| $58.5M | 0.53% |
600,318
+32,000
| +6% | +$2.75M |
|
49
Carlyle Group
CG
$17.6B
| $57.1M | 0.51% |
1,327,000
| – | – |
|
50
Norfolk Southern
NSC
$78.8B
| $57M | 0.51% |
229,500
| – | – |
|
Similar funds
Tom Gayner's Q3 2024 Portfolio in Review
As of Q3 2024, Tom Gayner held 139 positions worth $11.1B, up 9.3% from $10.2B the previous quarter. Its ten largest holdings account for 39% of the portfolio.
Tom Gayner's Q3 2024 filing shows 5 new, 37 increased, 4 reduced and 7 closed positions. Its largest new stake was Airbnb: 19,150 shares worth $2.43M. The largest sale was RTX Corp, an estimated $22.5M.
By sector, the portfolio is most concentrated in Financials at 44% of assets, up from 43% a quarter earlier, followed by Industrials and Consumer Discretionary.
- Tom Gayner's largest Q3 2024 buy was Airbnb: 19,150 shares worth $2.43M.
- Tom Gayner added most to Franco-Nevada in Q3 2024, an estimated $12.4M increase.
- Tom Gayner's biggest Q3 2024 reduction was Whirlpool, cutting an estimated $12.5M.
- Tom Gayner fully exited RTX Corp in Q3 2024, selling an estimated $22.5M.
- Tom Gayner's ten largest holdings make up 39% of its $11.1B portfolio in Q3 2024.
- Tom Gayner opened 5 new positions and closed 7 in Q3 2024.
- Tom Gayner's portfolio value rose 9.3% quarter-over-quarter to $11.1B.
Based on Markel Group's 13F filing for Q3 2024, filed 1 Nov 2024.