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 | |
|---|---|---|---|---|---|---|
51
Ecolab
ECL
$78.9B
| $46.5M | 0.56% |
274,300
| – | – |
|
52
Norfolk Southern
NSC
$78.8B
| $45.2M | 0.55% |
229,500
| – | – |
|
53
Linde
LIN
$225B
| $44.9M | 0.54% |
120,500
+6,100
| +5% | +$2.32M |
|
54
Rockwell Automation
ROK
$48.5B
| $44.3M | 0.53% |
154,900
| – | – |
|
55
Carlyle Group
CG
$17.6B
| $40M | 0.48% |
1,327,000
| – | – |
|
56
FedEx
FDX
$76.9B
| $38.4M | 0.46% |
145,000
+12,000
| +9% | +$3.12M |
|
57
Whirlpool
WHR
$2.63B
| $37.7M | 0.46% |
282,049
| – | – |
|
58
Nike
NKE
$60.5B
| $35.3M | 0.43% |
368,900
| – | – |
|
59
JPMorgan Chase
JPM
$935B
| $35M | 0.42% |
241,550
+13,000
| +6% | +$1.95M |
|
60
T. Rowe Price
TROW
$23.8B
| $32.9M | 0.4% |
314,000
| – | – |
|
|
61
Old Dominion Freight Line
ODFL
$42.8B
| $32.5M | 0.39% |
159,000
+24,000
| +18% | +$4.86M |
|
62
Aon
AON
$75.3B
| $32.3M | 0.39% |
99,550
+6,500
| +7% | +$2.15M |
|
|
ITIC
63
Investors Title Co
ITIC
$546M
| $31.6M | 0.38% |
213,300
| – | – |
|
|
SRCL
64
DELISTED
Stericycle Inc
SRCL
| $29.9M | 0.36% |
668,700
| – | – |
|
|
65
Tyson Foods
TSN
$20.6B
| $29.2M | 0.35% |
577,500
+127,500
| +28% | +$6.79M |
|
66
3M
MMM
$92.3B
| $27.5M | 0.33% |
351,325
| – | – |
|
67
Brown-Forman Class B
BF.B
$13.1B
| $27.4M | 0.33% |
474,187
| – | – |
|
68
Verisk Analytics
VRSK
$24.4B
| $27.1M | 0.33% |
114,700
+5,700
| +5% | +$1.34M |
|
69
Hagerty
HGTY
$1.34B
| $24.5M | 0.3% |
3,000,000
| – | – |
|
70
Sherwin-Williams
SHW
$84.1B
| $24M | 0.29% |
94,172
| – | – |
|
|
71
Cable One
CABO
$129M
| $23.2M | 0.28% |
37,700
+11,000
| +41% | +$7.25M |
|
72
CVS Health
CVS
$119B
| $23.2M | 0.28% |
332,000
| – | – |
|
73
Lockheed Martin
LMT
$130B
| $23.1M | 0.28% |
56,363
| – | – |
|
74
Costco
COST
$420B
| $22.1M | 0.27% |
39,150
| – | – |
|
75
Hanover Insurance
THG
$7.77B
| $21M | 0.25% |
189,000
+31,000
| +20% | +$3.41M |
|
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.