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 |
Airbnb
ABNB
|
+$9.18M |
| 2 |
Franco-Nevada
FNV
|
+$5.88M |
| 3 |
Linde
LIN
|
+$5.85M |
| 4 |
Archer Daniels Midland
ADM
|
+$3.72M |
| 5 |
Ferguson
FERG
|
+$2.95M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Cable One
CABO
|
+$11.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 47.76% |
| 2 | Industrials | 13.98% |
| 3 | Consumer Discretionary | 11.43% |
| 4 | Technology | 8.52% |
| 5 | Communication Services | 8.26% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
Norfolk Southern
NSC
$78.8B
| $54.4M | 0.48% |
229,500
| – | – |
|
52
Factset
FDS
$10.7B
| $53.1M | 0.47% |
116,720
| – | – |
|
53
FedEx
FDX
$76.9B
| $51.9M | 0.46% |
213,000
+6,500
| +3% | +$1.69M |
|
54
Old Dominion Freight Line
ODFL
$42.8B
| $51.8M | 0.46% |
313,200
+12,500
| +4% | +$2.27M |
|
55
Aon
AON
$75.3B
| $51.7M | 0.46% |
129,450
+3,250
| +3% | +$1.25M |
|
|
ITIC
56
Investors Title Co
ITIC
$546M
| $51.4M | 0.46% |
213,300
| – | – |
|
57
Tyson Foods
TSN
$20.6B
| $51M | 0.45% |
798,500
| – | – |
|
58
Accenture
ACN
$113B
| $49.7M | 0.44% |
159,400
| – | – |
|
59
Hanover Insurance
THG
$7.77B
| $48.7M | 0.43% |
280,000
+13,000
| +5% | +$2.1M |
|
60
Verisk Analytics
VRSK
$24.4B
| $46.4M | 0.41% |
155,950
| – | – |
|
61
3M
MMM
$92.3B
| $43.1M | 0.38% |
293,750
| – | – |
|
62
Rockwell Automation
ROK
$48.5B
| $40M | 0.36% |
154,900
| – | – |
|
63
Costco
COST
$420B
| $37M | 0.33% |
39,150
| – | – |
|
64
Comcast
CMCSA
$95.3B
| $35.5M | 0.32% |
961,880
| – | – |
|
65
Yum! Brands
YUM
$41.8B
| $35.5M | 0.32% |
225,451
+19,949
| +10% | +$2.87M |
|
66
Sherwin-Williams
SHW
$84.1B
| $32.9M | 0.29% |
94,172
| – | – |
|
67
Allstate
ALL
$64.2B
| $32M | 0.28% |
154,550
| – | – |
|
68
RTX Corp
RTX
$283B
| $29.7M | 0.26% |
224,000
| – | – |
|
69
T. Rowe Price
TROW
$23.8B
| $28.8M | 0.26% |
314,000
| – | – |
|
70
Nike
NKE
$60.5B
| $28.3M | 0.25% |
445,400
+13,000
| +3% | +$957K |
|
71
Brown-Forman Class A
BF.A
$13.3B
| $28.2M | 0.25% |
843,000
| – | – |
|
72
Hagerty
HGTY
$1.34B
| $28.1M | 0.25% |
3,108,000
| – | – |
|
73
Lockheed Martin
LMT
$130B
| $27.5M | 0.24% |
61,463
+5,100
| +9% | +$2.35M |
|
74
Paychex
PAYX
$44.3B
| $23.1M | 0.21% |
150,000
| – | – |
|
75
Thermo Fisher Scientific
TMO
$233B
| $22.4M | 0.2% |
45,000
+3,900
| +9% | +$2.11M |
|
Similar funds
Tom Gayner's Q1 2025 Portfolio in Review
As of Q1 2025, Tom Gayner held 135 positions worth $11.3B, down 0.73% from $11.3B the previous quarter. Its ten largest holdings account for 41% of the portfolio.
Trading was light in Q1 2025: portfolio turnover was 2.2%. Tom Gayner opened 3 new positions and made no exits, leaving the 135-position portfolio largely intact.
By sector, the portfolio is most concentrated in Financials at 48% of assets, up from 46% a quarter earlier, followed by Industrials and Consumer Discretionary.
- Tom Gayner's largest Q1 2025 buy was Cboe Global Markets: 6,000 shares worth $1.36M.
- Tom Gayner added most to Airbnb in Q1 2025, an estimated $9.18M increase.
- Tom Gayner's biggest Q1 2025 reduction was Cable One, cutting an estimated $11.4M.
- Tom Gayner's ten largest holdings make up 41% of its $11.3B portfolio in Q1 2025.
- Tom Gayner opened 3 new positions and closed 0 in Q1 2025.
- Tom Gayner's portfolio value fell 0.73% quarter-over-quarter to $11.3B.
Based on Markel Group's 13F filing for Q1 2025, filed 2 May 2025.