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 |
Capital One
COF
|
+$10M |
| 2 |
Harley-Davidson
HOG
|
+$9.59M |
| 3 |
DISCK
Discovery, Inc. Series C Common Stock
DISCK
|
+$8.38M |
| 4 |
OAK
OAKTREE CAPITAL GROUP, LLC
OAK
|
+$6.89M |
| 5 |
JPMorgan Chase
JPM
|
+$6.42M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
CB
CHUBB CORPORATION
CB
|
+$29.9M |
| 2 |
Federated Hermes
FHI
|
+$4M |
| 3 |
Graham Holdings Company
GHC
|
+$2.25M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 29.98% |
| 2 | Consumer Discretionary | 16.71% |
| 3 | Industrials | 12.34% |
| 4 | Healthcare | 12.25% |
| 5 | Consumer Staples | 12.24% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
Caterpillar
CAT
$381B
| $18.2M | 0.48% |
278,000
+37,000
| +15% | +$2.83M |
|
52
McDonald's
MCD
$192B
| $17.8M | 0.47% |
181,000
| – | – |
|
53
Liberty Media Series C
FWONK
$26.3B
| $17.8M | 0.47% |
728,993
| – | – |
|
54
Ecolab
ECL
$78.9B
| $16.3M | 0.43% |
149,000
+12,000
| +9% | +$1.34M |
|
55
Alphabet (Google) Class C
GOOG
$4.18T
| $15.6M | 0.41% |
500,620
| – | – |
|
56
Blackstone
BX
$108B
| $15.4M | 0.41% |
496,253
+26,494
| +6% | +$958K |
|
|
ITIC
57
Investors Title Co
ITIC
$546M
| $15.3M | 0.4% |
213,300
| – | – |
|
58
Liberty Media Series A
FWONA
$24.2B
| $15.2M | 0.4% |
633,594
+26,772
| +4% | +$667K |
|
59
Accenture
ACN
$113B
| $13.3M | 0.35% |
135,000
| – | – |
|
60
PepsiCo
PEP
$196B
| $13.1M | 0.35% |
139,300
+5,000
| +4% | +$476K |
|
|
DISCK
61
DELISTED
Discovery, Inc. Series C Common Stock
DISCK
| $12.9M | 0.34% |
533,000
+302,000
| +131% | +$8.38M |
|
62
Watsco Inc
WSO
$12.9B
| $12.9M | 0.34% |
109,000
+16,000
| +17% | +$1.99M |
|
|
MHFI
63
DELISTED
MCGRAW-HILL FINANCIAL INC COM
MHFI
| $12.7M | 0.34% |
147,000
+12,000
| +9% | +$1.18M |
|
64
Mattel
MAT
$4.15B
| $12.3M | 0.32% |
584,000
+91,000
| +18% | +$2.13M |
|
|
65
Harley-Davidson
HOG
$2.93B
| $11.8M | 0.31% |
215,000
+170,000
| +378% | +$9.59M |
|
|
AAN.A
66
DELISTED
The Aaron's Company Inc Class A
AAN.A
| $11.8M | 0.31% |
326,000
+2,000
| +0.6% | +$72.2K |
|
67
Mastercard
MA
$509B
| $11.6M | 0.31% |
129,000
+12,000
| +10% | +$1.13M |
|
68
Norfolk Southern
NSC
$78.8B
| $11.6M | 0.31% |
152,000
+54,000
| +55% | +$4.39M |
|
69
SEI Investments
SEIC
$13.1B
| $11.4M | 0.3% |
237,000
| – | – |
|
|
70
JPMorgan Chase
JPM
$935B
| $11.2M | 0.29% |
183,000
+98,000
| +115% | +$6.42M |
|
71
Core Laboratories
CLB
$574M
| $10.9M | 0.29% |
109,000
| – | – |
|
72
CME Group
CME
$98.9B
| $10.8M | 0.28% |
116,000
+2,000
| +2% | +$190K |
|
73
Brown-Forman Class B
BF.B
$13.1B
| $10.2M | 0.27% |
329,297
| – | – |
|
74
Procter & Gamble
PG
$336B
| $9.14M | 0.24% |
127,000
| – | – |
|
75
Philip Morris
PM
$293B
| $9.08M | 0.24% |
114,500
| – | – |
|
Similar funds
Tom Gayner's Q3 2015 Portfolio in Review
As of Q3 2015, Tom Gayner held 121 positions worth $3.8B, down 5.2% from $4B the previous quarter. Its ten largest holdings account for 42% of the portfolio.
Tom Gayner's Q3 2015 filing shows 10 new, 56 increased, 2 reduced and 1 closed positions. Its largest new stake was Capital One: 125,000 shares worth $9.06M. The largest sale was CHUBB CORPORATION, an estimated $29.9M.
By sector, the portfolio is most concentrated in Financials at 30% of assets, down from 30% a quarter earlier, followed by Consumer Discretionary and Industrials.
- Tom Gayner's largest Q3 2015 buy was Capital One: 125,000 shares worth $9.06M.
- Tom Gayner added most to Harley-Davidson in Q3 2015, an estimated $9.59M increase.
- Tom Gayner's biggest Q3 2015 reduction was Federated Hermes, cutting an estimated $4M.
- Tom Gayner fully exited CHUBB CORPORATION in Q3 2015, selling an estimated $29.9M.
- Tom Gayner's ten largest holdings make up 42% of its $3.8B portfolio in Q3 2015.
- Tom Gayner opened 10 new positions and closed 1 in Q3 2015.
- Tom Gayner's portfolio value fell 5.2% quarter-over-quarter to $3.8B.
Based on Markel Group's 13F filing for Q3 2015, filed 9 Nov 2015.