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 |
BNY
Bank of New York Mellon
BNY
|
+$4.03M |
| 2 |
Mohawk Industries
MHK
|
+$4.03M |
| 3 |
Analog Devices
ADI
|
+$3.28M |
| 4 |
Healthcare Services Group
HCSG
|
+$3.21M |
| 5 |
Berkshire Hathaway Class A
BRK.A
|
+$2.87M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
UnitedHealth
UNH
|
+$176M |
| 2 |
Unilever
UL
|
+$87.3M |
| 3 |
ScottsMiracle-Gro
SMG
|
+$44.8M |
| 4 |
Hasbro
HAS
|
+$38.4M |
| 5 |
WBA
Walgreens Boots Alliance
WBA
|
+$14M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 36.56% |
| 2 | Consumer Discretionary | 18.7% |
| 3 | Industrials | 11.27% |
| 4 | Communication Services | 9.92% |
| 5 | Technology | 8.77% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
LSXMK
76
DELISTED
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
| $16.5M | 0.31% |
685,358
| – | – |
|
77
Linde
LIN
$225B
| $16.3M | 0.31% |
94,400
| – | – |
|
78
Parker-Hannifin
PH
$126B
| $15.4M | 0.29% |
118,600
| – | – |
|
79
Alphabet (Google) Class A
GOOGL
$4.22T
| $14.5M | 0.27% |
250,000
| – | – |
|
80
Sherwin-Williams
SHW
$84.1B
| $14.2M | 0.27% |
93,000
| – | – |
|
81
Boeing
BA
$169B
| $14.1M | 0.26% |
94,400
| – | – |
|
82
Equifax
EFX
$22.6B
| $13.6M | 0.26% |
114,000
+6,500
| +6% | +$945K |
|
|
LSXMA
83
DELISTED
Liberty Media Corporation Series A Liberty SiriusXM Common Stock
LSXMA
| $13.5M | 0.25% |
589,642
| – | – |
|
84
Cisco
CSCO
$438B
| $13.4M | 0.25% |
342,000
| – | – |
|
85
Delta Air Lines
DAL
$54.2B
| $13.1M | 0.25% |
460,500
+43,500
| +10% | +$2.16M |
|
86
Choice Hotels
CHH
$4.93B
| $13M | 0.25% |
213,000
+10,000
| +5% | +$908K |
|
|
EA
87
DELISTED
Electronic Arts
EA
| $12.5M | 0.24% |
125,200
+2,800
| +2% | +$295K |
|
|
MXIM
88
DELISTED
Maxim Integrated Products
MXIM
| $12.3M | 0.23% |
252,000
| – | – |
|
89
Union Pacific
UNP
$183B
| $12M | 0.23% |
85,370
| – | – |
|
|
BNY
90
Bank of New York Mellon
BNY
$108B
| $11.8M | 0.22% |
350,000
+96,000
| +38% | +$4.03M |
|
91
PepsiCo
PEP
$196B
| $11.5M | 0.22% |
95,600
-50,000
| -34% | -$6.76M |
|
92
Costco
COST
$420B
| $11.2M | 0.21% |
39,150
| – | – |
|
93
American Tower
AMT
$81.9B
| $11.1M | 0.21% |
51,150
+2,950
| +6% | +$687K |
|
94
Microchip Technology
MCHP
$41.3B
| $11.1M | 0.21% |
326,000
+8,000
| +3% | +$376K |
|
95
International Flavors & Fragrances
IFF
$21.5B
| $10.9M | 0.21% |
107,000
+1,000
| +0.9% | +$125K |
|
96
Verisk Analytics
VRSK
$24.4B
| $10.3M | 0.19% |
74,000
| – | – |
|
97
Paychex
PAYX
$44.3B
| $9.44M | 0.18% |
150,000
| – | – |
|
98
Cable One
CABO
$129M
| $8.55M | 0.16% |
5,200
| – | – |
|
99
McKesson
MCK
$100B
| $8.54M | 0.16% |
63,100
| – | – |
|
100
Philip Morris
PM
$293B
| $8.35M | 0.16% |
114,500
| – | – |
|
Similar funds
Tom Gayner's Q1 2020 Portfolio in Review
As of Q1 2020, Tom Gayner held 139 positions worth $5.32B, down 26% from $7.2B the previous quarter. Its ten largest holdings account for 40% of the portfolio.
Tom Gayner withdrew a net $344M in Q1 2020, closing 9 positions and reducing 3 holdings. Its most notable exit was UnitedHealth, an estimated $176M position sold in full.
By sector, the portfolio is most concentrated in Financials at 37% of assets, up from 33% a quarter earlier, followed by Consumer Discretionary and Industrials.
Against the trend, Tom Gayner opened a new position in Guidewire Software worth $1.03M.
- Tom Gayner's largest Q1 2020 buy was Guidewire Software: 13,000 shares worth $1.03M.
- Tom Gayner added most to Bank of New York Mellon in Q1 2020, an estimated $4.03M increase.
- Tom Gayner's biggest Q1 2020 reduction was Walgreens Boots Alliance, cutting an estimated $14M.
- Tom Gayner fully exited UnitedHealth in Q1 2020, selling an estimated $176M.
- Tom Gayner's ten largest holdings make up 40% of its $5.32B portfolio in Q1 2020.
- Tom Gayner opened 5 new positions and closed 9 in Q1 2020.
- Tom Gayner's portfolio value fell 26% quarter-over-quarter to $5.32B.
Based on Markel Group's 13F filing for Q1 2020, filed 1 May 2020.