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 |
MON
Monsanto Co
MON
|
+$13.4M |
| 2 |
Alphabet (Google) Class A
GOOGL
|
+$9.25M |
| 3 |
OAK
OAKTREE CAPITAL GROUP, LLC
OAK
|
+$5.61M |
| 4 |
Union Pacific
UNP
|
+$5.58M |
| 5 |
DISCK
Discovery, Inc. Series C Common Stock
DISCK
|
+$5.06M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
GE Aerospace
GE
|
+$74.7M |
| 2 |
Walmart Inc
WMT
|
+$71.2M |
| 3 |
AB InBev
BUD
|
+$45.2M |
| 4 |
Federated Hermes
FHI
|
+$37.6M |
| 5 |
Intel
INTC
|
+$29.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 31.52% |
| 2 | Consumer Discretionary | 16.66% |
| 3 | Healthcare | 12.95% |
| 4 | Industrials | 11.7% |
| 5 | Consumer Staples | 9.69% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
DISCK
51
DELISTED
Discovery, Inc. Series C Common Stock
DISCK
| $18.1M | 0.49% |
718,000
+185,000
| +35% | +$5.06M |
|
52
Norfolk Southern
NSC
$78.8B
| $17.5M | 0.47% |
207,000
+55,000
| +36% | +$4.71M |
|
53
Mattel
MAT
$4.17B
| $17.3M | 0.47% |
636,000
+52,000
| +9% | +$1.28M |
|
54
Liberty Media Series A
FWONA
$24.5B
| $16.7M | 0.45% |
633,594
| – | – |
|
55
Watsco Inc
WSO
$12.8B
| $14.6M | 0.4% |
125,000
+16,000
| +15% | +$1.97M |
|
|
MHFI
56
DELISTED
MCGRAW-HILL FINANCIAL INC COM
MHFI
| $14.5M | 0.39% |
147,000
| – | – |
|
57
Accenture
ACN
$114B
| $14.3M | 0.39% |
137,000
+2,000
| +1% | +$211K |
|
58
Blackstone
BX
$108B
| $14.2M | 0.39% |
487,000
-9,253
| -2% | -$295K |
|
59
PepsiCo
PEP
$198B
| $13.9M | 0.38% |
139,300
| – | – |
|
60
Mastercard
MA
$522B
| $13.9M | 0.38% |
142,500
+13,500
| +10% | +$1.32M |
|
61
Harley-Davidson
HOG
$2.95B
| $13.3M | 0.36% |
292,000
+77,000
| +36% | +$3.79M |
|
62
SEI Investments
SEIC
$13.4B
| $12.4M | 0.34% |
237,000
| – | – |
|
|
63
Alphabet (Google) Class C
GOOG
$4.25T
| $12.2M | 0.33% |
320,620
-180,000
| -36% | -$6.46M |
|
64
JPMorgan Chase
JPM
$948B
| $12.1M | 0.33% |
183,000
| – | – |
|
65
Core Laboratories
CLB
$553M
| $11.9M | 0.32% |
109,000
| – | – |
|
66
CME Group
CME
$100B
| $10.5M | 0.28% |
116,000
| – | – |
|
67
Brown-Forman Class B
BF.B
$13.3B
| $10.5M | 0.28% |
329,297
| – | – |
|
68
Procter & Gamble
PG
$339B
| $10.1M | 0.27% |
127,000
| – | – |
|
69
Philip Morris
PM
$300B
| $10.1M | 0.27% |
114,500
| – | – |
|
70
MSCI
MSCI
$41.4B
| $9.88M | 0.27% |
137,000
| – | – |
|
|
71
Alphabet (Google) Class A
GOOGL
$4.29T
| $9.72M | 0.26% |
+250,000
| New | +$9.25M |
|
72
Capital One
COF
$134B
| $9.1M | 0.25% |
126,000
+1,000
| +0.8% | +$76.6K |
|
|
LBRDK
73
DELISTED
Liberty Broadband Class C
LBRDK
| $8.93M | 0.24% |
172,113
| – | – |
|
|
CDK
74
DELISTED
CDK Global, Inc.
CDK
| $8.4M | 0.23% |
176,897
| – | – |
|
75
KKR & Co
KKR
$97.6B
| $8.31M | 0.22% |
533,000
| – | – |
|
Similar funds
Tom Gayner's Q4 2015 Portfolio in Review
As of Q4 2015, Tom Gayner held 137 positions worth $3.69B, down 2.7% from $3.8B the previous quarter. Its ten largest holdings account for 44% of the portfolio.
Tom Gayner withdrew a net $177M in Q4 2015, closing 7 positions and reducing 3 holdings. Its most notable exit was GE Aerospace, an estimated $74.7M position sold in full.
By sector, the portfolio is most concentrated in Financials at 32% of assets, up from 30% a quarter earlier, followed by Consumer Discretionary and Healthcare.
Against the trend, Tom Gayner opened a new position in Alphabet (Google) Class A worth $9.72M.
- Tom Gayner's largest Q4 2015 buy was Alphabet (Google) Class A: 250,000 shares worth $9.72M.
- Tom Gayner added most to Monsanto Co in Q4 2015, an estimated $13.4M increase.
- Tom Gayner's biggest Q4 2015 reduction was Federated Hermes, cutting an estimated $37.6M.
- Tom Gayner fully exited GE Aerospace in Q4 2015, selling an estimated $74.7M.
- Tom Gayner's ten largest holdings make up 44% of its $3.69B portfolio in Q4 2015.
- Tom Gayner opened 17 new positions and closed 7 in Q4 2015.
- Tom Gayner's portfolio value fell 2.7% quarter-over-quarter to $3.69B.
Based on Markel Group's 13F filing for Q4 2015, filed 16 Feb 2016.