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 |
Analog Devices
ADI
|
+$27.8M |
| 2 |
Dollar General
DG
|
+$8.41M |
| 3 |
Regeneron Pharmaceuticals
REGN
|
+$4.66M |
| 4 |
Texas Pacific Land
TPL
|
+$3.36M |
| 5 |
ATVI
Activision Blizzard
ATVI
|
+$2.47M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
MXIM
Maxim Integrated Products
MXIM
|
+$26.6M |
| 2 |
International Flavors & Fragrances
IFF
|
+$10.9M |
| 3 |
WIX.com
WIX
|
+$348K |
| 4 |
Netflix
NFLX
|
+$227K |
| 5 |
BNT
Brookfield Wealth Solutions
BNT
|
+$38 |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 40.88% |
| 2 | Consumer Discretionary | 13.46% |
| 3 | Communication Services | 11.64% |
| 4 | Industrials | 11.43% |
| 5 | Technology | 9.51% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
BNY
76
Bank of New York Mellon
BNY
$108B
| $18.5M | 0.23% |
357,750
| – | – |
|
77
Costco
COST
$420B
| $17.6M | 0.22% |
39,150
| – | – |
|
78
Paychex
PAYX
$44.3B
| $16.9M | 0.21% |
150,000
| – | – |
|
79
Union Pacific
UNP
$183B
| $16.8M | 0.21% |
85,778
| – | – |
|
80
Albemarle
ALB
$16.9B
| $16.6M | 0.21% |
76,000
| – | – |
|
81
Verisk Analytics
VRSK
$24.4B
| $14.8M | 0.19% |
74,000
| – | – |
|
82
Aon
AON
$75.3B
| $14.7M | 0.19% |
51,600
+6,700
| +15% | +$1.8M |
|
83
PepsiCo
PEP
$196B
| $14.5M | 0.18% |
96,210
| – | – |
|
84
American Tower
AMT
$81.9B
| $13.8M | 0.17% |
51,910
| – | – |
|
85
Carrier Global
CARR
$49.8B
| $11.9M | 0.15% |
230,500
+6,500
| +3% | +$350K |
|
86
Crown Holdings
CCK
$13B
| $11.7M | 0.15% |
116,000
| – | – |
|
87
Hexcel
HXL
$7.1B
| $11.2M | 0.14% |
189,000
| – | – |
|
|
88
International Flavors & Fragrances
IFF
$21.5B
| $10.9M | 0.14% |
81,500
-74,500
| -48% | -$10.9M |
|
89
Philip Morris
PM
$293B
| $10.9M | 0.14% |
114,500
| – | – |
|
90
TransUnion
TRU
$16.2B
| $10.6M | 0.13% |
94,500
| – | – |
|
91
Trupanion
TRUP
$1.36B
| $10.4M | 0.13% |
133,400
| – | – |
|
92
Otis Worldwide
OTIS
$27.2B
| $9.43M | 0.12% |
114,620
| – | – |
|
93
Cable One
CABO
$129M
| $9.43M | 0.12% |
5,200
| – | – |
|
94
Wells Fargo
WFC
$254B
| $9.07M | 0.11% |
195,450
| – | – |
|
95
Microchip Technology
MCHP
$41.3B
| $8.6M | 0.11% |
112,000
| – | – |
|
|
96
Texas Pacific Land
TPL
$26.5B
| $8.35M | 0.11% |
62,100
+21,600
| +53% | +$3.36M |
|
|
97
Dollar General
DG
$27.2B
| $7.9M | 0.1% |
+37,250
| New | +$8.41M |
|
98
Liberty Global Class A
LBTYA
$3.63B
| $5.33M | 0.07% |
179,000
| – | – |
|
99
Marvell Technology
MRVL
$213B
| $4.16M | 0.05% |
69,000
| – | – |
|
100
Ball Corp
BALL
$16.8B
| $4.14M | 0.05% |
46,000
| – | – |
|
Similar funds
Tom Gayner's Q3 2021 Portfolio in Review
As of Q3 2021, Tom Gayner held 128 positions worth $7.91B, up 0.13% from $7.9B the previous quarter. Its ten largest holdings account for 43% of the portfolio.
Trading was light in Q3 2021: portfolio turnover was 4.7%. Tom Gayner opened 3 new positions and exited 3, leaving the 128-position portfolio largely intact.
By sector, the portfolio is most concentrated in Financials at 41% of assets, up from 41% a quarter earlier, followed by Consumer Discretionary and Communication Services.
- Tom Gayner's largest Q3 2021 buy was Dollar General: 37,250 shares worth $7.9M.
- Tom Gayner added most to Analog Devices in Q3 2021, an estimated $27.8M increase.
- Tom Gayner's biggest Q3 2021 reduction was International Flavors & Fragrances, cutting an estimated $10.9M.
- Tom Gayner fully exited Maxim Integrated Products in Q3 2021, selling an estimated $26.6M.
- Tom Gayner's ten largest holdings make up 43% of its $7.91B portfolio in Q3 2021.
- Tom Gayner opened 3 new positions and closed 3 in Q3 2021.
- Tom Gayner's portfolio value rose 0.13% quarter-over-quarter to $7.91B.
Based on Markel Group's 13F filing for Q3 2021, filed 5 Nov 2021.