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 |
RTX Corp
RTX
|
+$27.1M |
| 2 |
Franco-Nevada
FNV
|
+$17M |
| 3 |
Airbnb
ABNB
|
+$13M |
| 4 |
Dollar General
DG
|
+$7.37M |
| 5 |
Yum! Brands
YUM
|
+$6.63M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Whirlpool
WHR
|
+$16.9M |
| 2 |
American Tower
AMT
|
+$12.1M |
| 3 |
Comcast
CMCSA
|
+$4.95M |
| 4 |
Cable One
CABO
|
+$3.42M |
| 5 |
DNB
Dun & Bradstreet
DNB
|
+$1.32M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 46.21% |
| 2 | Industrials | 13.28% |
| 3 | Consumer Discretionary | 11.96% |
| 4 | Communication Services | 9.56% |
| 5 | Technology | 9.14% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
Starbucks
SBUX
$122B
| $56.3M | 0.5% |
617,318
+17,000
| +3% | +$1.64M |
|
52
Accenture
ACN
$113B
| $56.1M | 0.49% |
159,400
| – | – |
|
53
Factset
FDS
$10.7B
| $56.1M | 0.49% |
116,720
| – | – |
|
54
Norfolk Southern
NSC
$78.8B
| $53.9M | 0.47% |
229,500
| – | – |
|
55
Old Dominion Freight Line
ODFL
$42.8B
| $53M | 0.47% |
300,700
+5,700
| +2% | +$1.16M |
|
|
ITIC
56
Investors Title Co
ITIC
$546M
| $50.5M | 0.45% |
213,300
| – | – |
|
57
Tyson Foods
TSN
$20.6B
| $45.9M | 0.4% |
798,500
+9,000
| +1% | +$544K |
|
58
Aon
AON
$75.3B
| $45.3M | 0.4% |
126,200
+6,050
| +5% | +$2.22M |
|
59
Rockwell Automation
ROK
$48.5B
| $44.3M | 0.39% |
154,900
| – | – |
|
60
Verisk Analytics
VRSK
$24.4B
| $43M | 0.38% |
155,950
+11,000
| +8% | +$3.06M |
|
61
Hanover Insurance
THG
$7.77B
| $41.3M | 0.36% |
267,000
+13,000
| +5% | +$2.02M |
|
62
3M
MMM
$92.3B
| $37.9M | 0.33% |
293,750
| – | – |
|
|
63
Comcast
CMCSA
$95.3B
| $36.1M | 0.32% |
961,880
-119,361
| -11% | -$4.95M |
|
64
Costco
COST
$420B
| $35.9M | 0.32% |
39,150
| – | – |
|
65
T. Rowe Price
TROW
$23.8B
| $35.5M | 0.31% |
314,000
| – | – |
|
66
Nike
NKE
$60.5B
| $32.7M | 0.29% |
432,400
+3,500
| +0.8% | +$275K |
|
67
Sherwin-Williams
SHW
$84.1B
| $32M | 0.28% |
94,172
| – | – |
|
68
Brown-Forman Class A
BF.A
$13.3B
| $31.8M | 0.28% |
843,000
| – | – |
|
69
Hagerty
HGTY
$1.34B
| $30M | 0.26% |
3,108,000
+108,000
| +4% | +$1.18M |
|
70
Allstate
ALL
$64.2B
| $29.8M | 0.26% |
154,550
| – | – |
|
|
71
Yum! Brands
YUM
$41.8B
| $27.6M | 0.24% |
205,502
+49,000
| +31% | +$6.63M |
|
72
Lockheed Martin
LMT
$130B
| $27.4M | 0.24% |
56,363
| – | – |
|
|
73
RTX Corp
RTX
$283B
| $25.9M | 0.23% |
+224,000
| New | +$27.1M |
|
74
Thermo Fisher Scientific
TMO
$233B
| $21.4M | 0.19% |
41,100
+5,700
| +16% | +$3.13M |
|
75
Paychex
PAYX
$44.3B
| $21M | 0.19% |
150,000
| – | – |
|
Similar funds
Tom Gayner's Q4 2024 Portfolio in Review
As of Q4 2024, Tom Gayner held 137 positions worth $11.3B, up 2.1% from $11.1B the previous quarter. Its ten largest holdings account for 40% of the portfolio.
Tom Gayner's Q4 2024 filing shows 5 new, 43 increased, 2 reduced and 5 closed positions. Its largest new stake was RTX Corp: 224,000 shares worth $25.9M. The largest sale was Whirlpool, an estimated $16.9M.
By sector, the portfolio is most concentrated in Financials at 46% of assets, up from 44% a quarter earlier, followed by Industrials and Consumer Discretionary.
- Tom Gayner's largest Q4 2024 buy was RTX Corp: 224,000 shares worth $25.9M.
- Tom Gayner added most to Franco-Nevada in Q4 2024, an estimated $17M increase.
- Tom Gayner's biggest Q4 2024 reduction was Comcast, cutting an estimated $4.95M.
- Tom Gayner fully exited Whirlpool in Q4 2024, selling an estimated $16.9M.
- Tom Gayner's ten largest holdings make up 40% of its $11.3B portfolio in Q4 2024.
- Tom Gayner opened 5 new positions and closed 5 in Q4 2024.
- Tom Gayner's portfolio value rose 2.1% quarter-over-quarter to $11.3B.
Based on Markel Group's 13F filing for Q4 2024, filed 7 Feb 2025.