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 |
Goldman Sachs
GS
|
+$25.5M |
| 2 |
Southwest Airlines
LUV
|
+$7.51M |
| 3 |
NVR
NVR
|
+$7.47M |
| 4 |
ScottsMiracle-Gro
SMG
|
+$7.12M |
| 5 |
Delta Air Lines
DAL
|
+$7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
OAK
OAKTREE CAPITAL GROUP, LLC
OAK
|
+$34.8M |
| 2 |
Chipotle Mexican Grill
CMG
|
+$5.83M |
| 3 |
Verizon
VZ
|
+$5.5M |
| 4 |
Meta Platforms (Facebook)
META
|
+$466K |
| 5 |
Booking.com
BKNG
|
+$89.8K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 32.98% |
| 2 | Consumer Discretionary | 20.2% |
| 3 | Industrials | 10.94% |
| 4 | Communication Services | 9.82% |
| 5 | Consumer Staples | 8.25% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
101
Costco
COST
$420B
| $10.3M | 0.16% |
39,150
+150
| +0.4% | +$37.4K |
|
102
Liberty Media Series C
FWONK
$26.3B
| $9.71M | 0.15% |
268,398
| – | – |
|
103
International Flavors & Fragrances
IFF
$21.5B
| $9.65M | 0.15% |
66,500
| – | – |
|
104
Philip Morris
PM
$293B
| $8.99M | 0.14% |
114,500
| – | – |
|
|
CDK
105
DELISTED
CDK Global, Inc.
CDK
| $8.75M | 0.13% |
176,897
| – | – |
|
106
Liberty Media Series A
FWONA
$24.2B
| $8.23M | 0.13% |
239,705
| – | – |
|
107
Equifax
EFX
$22.6B
| $7.91M | 0.12% |
58,500
+23,000
| +65% | +$2.88M |
|
108
American Tower
AMT
$81.9B
| $7.26M | 0.11% |
35,500
| – | – |
|
109
Aon
AON
$75.3B
| $7.14M | 0.11% |
37,000
| – | – |
|
110
Healthcare Services Group
HCSG
$1.56B
| $6.41M | 0.1% |
211,500
+15,000
| +8% | +$496K |
|
111
Cable One
CABO
$129M
| $6.09M | 0.09% |
5,200
| – | – |
|
112
McKesson
MCK
$100B
| $5.79M | 0.09% |
43,100
+6,000
| +16% | +$748K |
|
113
Albemarle
ALB
$16.9B
| $5.14M | 0.08% |
73,000
| – | – |
|
114
Liberty Global Class A
LBTYA
$3.63B
| $4.83M | 0.07% |
179,000
| – | – |
|
115
Crown Holdings
CCK
$13B
| $4.58M | 0.07% |
75,000
+26,000
| +53% | +$1.52M |
|
116
TransUnion
TRU
$16.2B
| $4.41M | 0.07% |
60,000
+20,000
| +50% | +$1.37M |
|
117
Sensata Technologies
ST
$6.23B
| $4.02M | 0.06% |
82,000
| – | – |
|
118
Graham Holdings Company
GHC
$4.94B
| $3.59M | 0.06% |
5,200
| – | – |
|
|
BNY
119
Bank of New York Mellon
BNY
$108B
| $3.53M | 0.05% |
+80,000
| New | +$3.76M |
|
120
Penske Automotive Group
PAG
$14.2B
| $3.4M | 0.05% |
72,000
| – | – |
|
121
Wells Fargo
WFC
$254B
| $3.2M | 0.05% |
67,600
+12,600
| +23% | +$589K |
|
|
Y
122
DELISTED
Alleghany Corp
Y
| $2.95M | 0.05% |
4,328
| – | – |
|
123
NXP Semiconductors
NXPI
$56.9B
| $2.83M | 0.04% |
29,000
| – | – |
|
124
Shake Shack
SHAK
$3.06B
| $2.38M | 0.04% |
32,900
+1,000
| +3% | +$61.7K |
|
125
AutoNation
AN
$6.6B
| $1.78M | 0.03% |
42,460
+9,900
| +30% | +$394K |
|
Similar funds
Tom Gayner's Q2 2019 Portfolio in Review
As of Q2 2019, Tom Gayner held 139 positions worth $6.5B, up 9% from $5.97B the previous quarter. Its ten largest holdings account for 40% of the portfolio.
Tom Gayner's Q2 2019 filing shows 6 new, 57 increased, 4 reduced and 2 closed positions. Its largest new stake was Bank of New York Mellon: 80,000 shares worth $3.53M. The largest sale was OAKTREE CAPITAL GROUP, LLC, an estimated $34.8M.
By sector, the portfolio is most concentrated in Financials at 33% of assets, up from 33% a quarter earlier, followed by Consumer Discretionary and Industrials.
- Tom Gayner's largest Q2 2019 buy was Bank of New York Mellon: 80,000 shares worth $3.53M.
- Tom Gayner added most to Goldman Sachs in Q2 2019, an estimated $25.5M increase.
- Tom Gayner's biggest Q2 2019 reduction was OAKTREE CAPITAL GROUP, LLC, cutting an estimated $34.8M.
- Tom Gayner fully exited Chipotle Mexican Grill in Q2 2019, selling an estimated $5.83M.
- Tom Gayner's ten largest holdings make up 40% of its $6.5B portfolio in Q2 2019.
- Tom Gayner opened 6 new positions and closed 2 in Q2 2019.
- Tom Gayner's portfolio value rose 9% quarter-over-quarter to $6.5B.
Based on Markel Group's 13F filing for Q2 2019, filed 2 Aug 2019.