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 |
Dollar General
DG
|
+$21.1M |
| 2 |
Alphabet (Google) Class A
GOOGL
|
+$15.3M |
| 3 |
Watsco Inc
WSO
|
+$8.37M |
| 4 |
Old Dominion Freight Line
ODFL
|
+$4.35M |
| 5 |
Capital One
COF
|
+$4.03M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Regeneron Pharmaceuticals
REGN
|
+$22M |
| 2 |
Netflix
NFLX
|
+$12.7M |
| 3 |
Enovis
ENOV
|
+$9.55M |
| 4 |
Healthcare Services Group
HCSG
|
+$9.12M |
| 5 |
ESAB
ESAB
|
+$1.72M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 41.11% |
| 2 | Industrials | 14.31% |
| 3 | Consumer Discretionary | 11.36% |
| 4 | Technology | 10.89% |
| 5 | Communication Services | 9.23% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
76
Cisco
CSCO
$438B
| $17.9M | 0.23% |
342,000
| – | – |
|
77
Equifax
EFX
$22.6B
| $17.8M | 0.23% |
87,850
| – | – |
|
78
Hanover Insurance
THG
$7.77B
| $17.7M | 0.23% |
138,000
+17,000
| +14% | +$2.29M |
|
79
PepsiCo
PEP
$196B
| $17.5M | 0.22% |
96,210
| – | – |
|
80
Union Pacific
UNP
$183B
| $17.3M | 0.22% |
85,778
| – | – |
|
|
81
Old Dominion Freight Line
ODFL
$42.8B
| $17.2M | 0.22% |
101,000
+26,000
| +35% | +$4.35M |
|
82
Paychex
PAYX
$44.3B
| $17.2M | 0.22% |
150,000
| – | – |
|
|
LBRDA
83
DELISTED
Liberty Broadband Class A
LBRDA
| $16.9M | 0.21% |
205,250
| – | – |
|
|
BNY
84
Bank of New York Mellon
BNY
$108B
| $16.6M | 0.21% |
365,250
| – | – |
|
85
Crown Holdings
CCK
$13B
| $15.5M | 0.2% |
188,000
+10,000
| +6% | +$846K |
|
|
LSXMK
86
DELISTED
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
| $14.6M | 0.19% |
673,902
| – | – |
|
87
Allstate
ALL
$64.2B
| $14.2M | 0.18% |
128,550
| – | – |
|
|
LBRDK
88
DELISTED
Liberty Broadband Class C
LBRDK
| $14.1M | 0.18% |
172,113
| – | – |
|
89
Hexcel
HXL
$7.1B
| $12.9M | 0.16% |
189,000
| – | – |
|
90
Cracker Barrel
CBRL
$1.29B
| $12.5M | 0.16% |
110,000
+13,000
| +13% | +$1.42M |
|
|
LSXMA
91
DELISTED
Liberty Media Corporation Series A Liberty SiriusXM Common Stock
LSXMA
| $12M | 0.15% |
579,786
| – | – |
|
92
Philip Morris
PM
$293B
| $11.1M | 0.14% |
114,500
| – | – |
|
93
Carrier Global
CARR
$49.8B
| $10.8M | 0.14% |
235,000
| – | – |
|
94
O-I Glass
OI
$1.1B
| $10.6M | 0.14% |
468,900
| – | – |
|
95
American Tower
AMT
$81.9B
| $10.6M | 0.14% |
51,910
| – | – |
|
96
ScottsMiracle-Gro
SMG
$3.55B
| $10.4M | 0.13% |
149,735
+20,500
| +16% | +$1.47M |
|
|
EA
97
DELISTED
Electronic Arts
EA
| $9.73M | 0.12% |
80,800
+20,000
| +33% | +$2.35M |
|
98
Otis Worldwide
OTIS
$27.2B
| $9.67M | 0.12% |
114,620
| – | – |
|
99
Sony
SONY
$140B
| $9.53M | 0.12% |
525,605
+27,360
| +5% | +$474K |
|
100
Wells Fargo
WFC
$254B
| $7.64M | 0.1% |
204,450
| – | – |
|
Similar funds
Tom Gayner's Q1 2023 Portfolio in Review
As of Q1 2023, Tom Gayner held 136 positions worth $7.86B, up 5.4% from $7.46B the previous quarter. Its ten largest holdings account for 39% of the portfolio.
Tom Gayner's Q1 2023 filing shows 2 new, 41 increased, 2 reduced and 5 closed positions. Its largest new stake was IQVIA: 14,659 shares worth $2.92M. The largest sale was Regeneron Pharmaceuticals, an estimated $22M.
By sector, the portfolio is most concentrated in Financials at 41% of assets, down from 42% a quarter earlier, followed by Industrials and Consumer Discretionary.
- Tom Gayner's largest Q1 2023 buy was IQVIA: 14,659 shares worth $2.92M.
- Tom Gayner added most to Dollar General in Q1 2023, an estimated $21.1M increase.
- Tom Gayner's biggest Q1 2023 reduction was Healthcare Services Group, cutting an estimated $9.12M.
- Tom Gayner fully exited Regeneron Pharmaceuticals in Q1 2023, selling an estimated $22M.
- Tom Gayner's ten largest holdings make up 39% of its $7.86B portfolio in Q1 2023.
- Tom Gayner opened 2 new positions and closed 5 in Q1 2023.
- Tom Gayner's portfolio value rose 5.4% quarter-over-quarter to $7.86B.
Based on Markel Group's 13F filing for Q1 2023, filed 28 Apr 2023.