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 |
International Flavors & Fragrances
IFF
|
+$4.38M |
| 2 |
SEI Investments
SEIC
|
+$2.35M |
| 3 |
Healthcare Services Group
HCSG
|
+$2.03M |
| 4 |
Watsco Inc
WSO
|
+$460K |
| 5 |
O-I Glass
OI
|
+$342K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Mohawk Industries
MHK
|
+$8.92M |
| 2 |
Apple
AAPL
|
+$481K |
| 3 |
Citigroup
C
|
+$102K |
| 4 |
JPMorgan Chase
JPM
|
+$89.4K |
| 5 |
Match Group
MTCH
|
+$132 |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 39.33% |
| 2 | Consumer Discretionary | 14.32% |
| 3 | Communication Services | 11.97% |
| 4 | Industrials | 11.65% |
| 5 | Technology | 9.82% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
76
Union Pacific
UNP
$183B
| $17.8M | 0.27% |
85,698
+328
| +0.4% | +$65.5K |
|
77
RTX Corp
RTX
$283B
| $16M | 0.24% |
224,000
| – | – |
|
78
Trupanion
TRUP
$1.36B
| $16M | 0.24% |
133,300
| – | – |
|
|
79
International Flavors & Fragrances
IFF
$21.5B
| $15.9M | 0.24% |
146,000
+39,000
| +36% | +$4.38M |
|
80
Verisk Analytics
VRSK
$24.4B
| $15.4M | 0.23% |
74,000
| – | – |
|
81
Cisco
CSCO
$438B
| $15.3M | 0.23% |
342,000
| – | – |
|
|
BNY
82
Bank of New York Mellon
BNY
$108B
| $15.1M | 0.23% |
356,750
+6,750
| +2% | +$259K |
|
83
Costco
COST
$420B
| $14.8M | 0.22% |
39,150
| – | – |
|
84
PepsiCo
PEP
$196B
| $14.3M | 0.21% |
96,210
+610
| +0.6% | +$86.7K |
|
85
Paychex
PAYX
$44.3B
| $14M | 0.21% |
150,000
| – | – |
|
86
Crown Holdings
CCK
$13B
| $11.6M | 0.17% |
116,000
| – | – |
|
87
Cable One
CABO
$129M
| $11.6M | 0.17% |
5,200
| – | – |
|
88
American Tower
AMT
$81.9B
| $11.5M | 0.17% |
51,150
| – | – |
|
89
Albemarle
ALB
$16.9B
| $11.2M | 0.17% |
76,000
| – | – |
|
90
Philip Morris
PM
$293B
| $9.48M | 0.14% |
114,500
| – | – |
|
91
TransUnion
TRU
$16.2B
| $9.38M | 0.14% |
94,500
| – | – |
|
92
Hexcel
HXL
$7.1B
| $9.16M | 0.14% |
189,000
| – | – |
|
93
Carrier Global
CARR
$49.8B
| $8.45M | 0.13% |
224,000
| – | – |
|
94
Aon
AON
$75.3B
| $7.82M | 0.12% |
37,000
| – | – |
|
95
Otis Worldwide
OTIS
$27.2B
| $7.64M | 0.11% |
113,060
+1,060
| +0.9% | +$68.8K |
|
96
Wells Fargo
WFC
$254B
| $5.9M | 0.09% |
195,450
| – | – |
|
|
97
O-I Glass
OI
$1.1B
| $5.64M | 0.08% |
474,000
+30,000
| +7% | +$342K |
|
98
Liberty Global Class A
LBTYA
$3.63B
| $4.34M | 0.06% |
179,000
| – | – |
|
99
Ball Corp
BALL
$16.8B
| $4.29M | 0.06% |
46,000
| – | – |
|
100
Graham Holdings Company
GHC
$4.94B
| $2.77M | 0.04% |
5,200
| – | – |
|
Similar funds
Tom Gayner's Q4 2020 Portfolio in Review
As of Q4 2020, Tom Gayner held 115 positions worth $6.71B, up 14% from $5.9B the previous quarter. Its ten largest holdings account for 43% of the portfolio.
Trading was light in Q4 2020: portfolio turnover was 1.7%. Tom Gayner opened 2 new positions and made no exits, leaving the 115-position portfolio largely intact.
By sector, the portfolio is most concentrated in Financials at 39% of assets, up from 39% a quarter earlier, followed by Consumer Discretionary and Communication Services.
- Tom Gayner's largest Q4 2020 buy was People Inc: 3,580 shares worth $370K.
- Tom Gayner added most to International Flavors & Fragrances in Q4 2020, an estimated $4.38M increase.
- Tom Gayner's biggest Q4 2020 reduction was Mohawk Industries, cutting an estimated $8.92M.
- Tom Gayner's ten largest holdings make up 43% of its $6.71B portfolio in Q4 2020.
- Tom Gayner opened 2 new positions and closed 0 in Q4 2020.
- Tom Gayner's portfolio value rose 14% quarter-over-quarter to $6.71B.
Based on Markel Group's 13F filing for Q4 2020, filed 5 Feb 2021.