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 |
Otis Worldwide
OTIS
|
+$5.8M |
| 2 |
Carrier Global
CARR
|
+$4.16M |
| 3 |
NVR
NVR
|
+$1.96M |
| 4 |
PayPal
PYPL
|
+$253K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
CarMax
KMX
|
+$264M |
| 2 |
Marriott International
MAR
|
+$119M |
| 3 |
WBA
Walgreens Boots Alliance
WBA
|
+$81.5M |
| 4 |
Automatic Data Processing
ADP
|
+$72.5M |
| 5 |
Elevance Health
ELV
|
+$39.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 39.68% |
| 2 | Consumer Discretionary | 15% |
| 3 | Industrials | 11.01% |
| 4 | Communication Services | 10.85% |
| 5 | Technology | 9.77% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
LSXMA
76
DELISTED
Liberty Media Corporation Series A Liberty SiriusXM Common Stock
LSXMA
| $14.7M | 0.27% |
579,786
-9,856
| -2% | -$241K |
|
77
Union Pacific
UNP
$183B
| $14.4M | 0.27% |
85,370
| – | – |
|
78
RTX Corp
RTX
$283B
| $13.8M | 0.26% |
224,000
-131,936
| -37% | -$8.23M |
|
|
BNY
79
Bank of New York Mellon
BNY
$108B
| $13.5M | 0.25% |
350,000
| – | – |
|
80
American Tower
AMT
$81.9B
| $13.2M | 0.25% |
51,150
| – | – |
|
81
International Flavors & Fragrances
IFF
$21.5B
| $13.1M | 0.24% |
107,000
| – | – |
|
82
PepsiCo
PEP
$196B
| $12.6M | 0.24% |
95,600
| – | – |
|
83
Verisk Analytics
VRSK
$24.4B
| $12.6M | 0.23% |
74,000
| – | – |
|
84
Costco
COST
$420B
| $11.9M | 0.22% |
39,150
| – | – |
|
85
Paychex
PAYX
$44.3B
| $11.4M | 0.21% |
150,000
| – | – |
|
86
Cable One
CABO
$129M
| $9.23M | 0.17% |
5,200
| – | – |
|
87
Hexcel
HXL
$7.1B
| $8.55M | 0.16% |
189,000
| – | – |
|
88
TransUnion
TRU
$16.2B
| $8.22M | 0.15% |
94,500
| – | – |
|
89
Philip Morris
PM
$293B
| $8.02M | 0.15% |
114,500
| – | – |
|
90
Crown Holdings
CCK
$13B
| $7.55M | 0.14% |
116,000
| – | – |
|
91
Aon
AON
$75.3B
| $7.13M | 0.13% |
37,000
| – | – |
|
|
92
Otis Worldwide
OTIS
$27.2B
| $6.37M | 0.12% |
+112,000
| New | +$5.8M |
|
93
Albemarle
ALB
$16.9B
| $5.87M | 0.11% |
76,000
| – | – |
|
94
Trupanion
TRUP
$1.36B
| $5.69M | 0.11% |
133,300
| – | – |
|
95
Wells Fargo
WFC
$254B
| $5M | 0.09% |
195,450
| – | – |
|
|
96
Carrier Global
CARR
$49.8B
| $4.98M | 0.09% |
+224,000
| New | +$4.16M |
|
97
O-I Glass
OI
$1.1B
| $3.99M | 0.07% |
444,000
| – | – |
|
98
Liberty Global Class A
LBTYA
$3.63B
| $3.91M | 0.07% |
179,000
| – | – |
|
99
Ball Corp
BALL
$16.8B
| $3.2M | 0.06% |
46,000
| – | – |
|
|
Y
100
DELISTED
Alleghany Corp
Y
| $2.12M | 0.04% |
4,328
| – | – |
|
Similar funds
Tom Gayner's Q2 2020 Portfolio in Review
As of Q2 2020, Tom Gayner held 133 positions worth $5.37B, up 0.97% from $5.32B the previous quarter. Its ten largest holdings account for 42% of the portfolio.
Tom Gayner withdrew a net $766M in Q2 2020, closing 20 positions and reducing 7 holdings. Its most notable exit was CarMax, an estimated $264M position sold in full.
By sector, the portfolio is most concentrated in Financials at 40% of assets, up from 37% a quarter earlier, followed by Consumer Discretionary and Industrials.
Against the trend, Tom Gayner opened a new position in Otis Worldwide worth $6.37M.
- Tom Gayner's largest Q2 2020 buy was Otis Worldwide: 112,000 shares worth $6.37M.
- Tom Gayner added most to NVR in Q2 2020, an estimated $1.96M increase.
- Tom Gayner's biggest Q2 2020 reduction was Deere & Co, cutting an estimated $36.2M.
- Tom Gayner fully exited CarMax in Q2 2020, selling an estimated $264M.
- Tom Gayner's ten largest holdings make up 42% of its $5.37B portfolio in Q2 2020.
- Tom Gayner opened 3 new positions and closed 20 in Q2 2020.
- Tom Gayner's portfolio value rose 0.97% quarter-over-quarter to $5.37B.
Based on Markel Group's 13F filing for Q2 2020, filed 3 Aug 2020.