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 |
RTX Corp
RTX
|
+$27.1M |
| 2 |
Franco-Nevada
FNV
|
+$17M |
| 3 |
Airbnb
ABNB
|
+$13M |
| 4 |
Dollar General
DG
|
+$7.37M |
| 5 |
Yum! Brands
YUM
|
+$6.63M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Whirlpool
WHR
|
+$16.9M |
| 2 |
American Tower
AMT
|
+$12.1M |
| 3 |
Comcast
CMCSA
|
+$4.95M |
| 4 |
Cable One
CABO
|
+$3.42M |
| 5 |
DNB
Dun & Bradstreet
DNB
|
+$1.32M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 46.21% |
| 2 | Industrials | 13.28% |
| 3 | Consumer Discretionary | 11.96% |
| 4 | Communication Services | 9.56% |
| 5 | Technology | 9.14% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
101
Spotify
SPOT
$110B
| $11.6M | 0.1% |
25,900
| – | – |
|
102
IQVIA
IQV
$42.8B
| $11.5M | 0.1% |
58,726
| – | – |
|
103
CarMax
KMX
$8.82B
| $11.2M | 0.1% |
136,500
| – | – |
|
104
ScottsMiracle-Gro
SMG
$3.55B
| $11.1M | 0.1% |
168,000
| – | – |
|
105
Shopify
SHOP
$192B
| $10.9M | 0.1% |
102,750
| – | – |
|
106
Otis Worldwide
OTIS
$27.2B
| $10.6M | 0.09% |
114,620
| – | – |
|
107
Insperity
NSP
$2.02B
| $10.2M | 0.09% |
131,728
+61,585
| +88% | +$4.98M |
|
108
TransUnion
TRU
$16.2B
| $9.37M | 0.08% |
101,050
| – | – |
|
|
BNY
109
Bank of New York Mellon
BNY
$108B
| $9.33M | 0.08% |
121,500
| – | – |
|
110
O-I Glass
OI
$1.1B
| $8.93M | 0.08% |
824,100
+10,000
| +1% | +$122K |
|
111
Hershey
HSY
$37.5B
| $7.62M | 0.07% |
45,000
+9,000
| +25% | +$1.61M |
|
112
Sony
SONY
$140B
| $7.09M | 0.06% |
335,000
| – | – |
|
113
Eastman Chemical
EMN
$8.47B
| $6.84M | 0.06% |
74,950
| – | – |
|
114
Uber
UBER
$161B
| $6.57M | 0.06% |
109,000
+21,000
| +24% | +$1.5M |
|
115
Celanese
CE
$5.14B
| $5.63M | 0.05% |
81,300
+3,500
| +4% | +$336K |
|
116
Comfort Systems
FIX
$58.3B
| $5.51M | 0.05% |
13,000
| – | – |
|
117
Graham Holdings Company
GHC
$4.94B
| $4.53M | 0.04% |
5,200
| – | – |
|
118
W.R. Berkley
WRB
$25.5B
| $3.56M | 0.03% |
60,750
| – | – |
|
119
Ball Corp
BALL
$16.8B
| $2.81M | 0.02% |
51,000
| – | – |
|
120
Gartner
IT
$12.4B
| $2.76M | 0.02% |
5,700
| – | – |
|
121
Willis Towers Watson
WTW
$31.8B
| $2.7M | 0.02% |
8,627
| – | – |
|
122
Domino's
DPZ
$11.3B
| $2.31M | 0.02% |
5,500
+1,000
| +22% | +$437K |
|
123
Intuit
INTU
$100B
| $1.71M | 0.02% |
2,720
| – | – |
|
124
MGM Resorts International
MGM
$11B
| $1.39M | 0.01% |
+40,000
| New | +$1.51M |
|
125
CoStar Group
CSGP
$13.1B
| $1.33M | 0.01% |
18,600
| – | – |
|
Similar funds
Tom Gayner's Q4 2024 Portfolio in Review
As of Q4 2024, Tom Gayner held 137 positions worth $11.3B, up 2.1% from $11.1B the previous quarter. Its ten largest holdings account for 40% of the portfolio.
Tom Gayner's Q4 2024 filing shows 5 new, 43 increased, 2 reduced and 5 closed positions. Its largest new stake was RTX Corp: 224,000 shares worth $25.9M. The largest sale was Whirlpool, an estimated $16.9M.
By sector, the portfolio is most concentrated in Financials at 46% of assets, up from 44% a quarter earlier, followed by Industrials and Consumer Discretionary.
- Tom Gayner's largest Q4 2024 buy was RTX Corp: 224,000 shares worth $25.9M.
- Tom Gayner added most to Franco-Nevada in Q4 2024, an estimated $17M increase.
- Tom Gayner's biggest Q4 2024 reduction was Comcast, cutting an estimated $4.95M.
- Tom Gayner fully exited Whirlpool in Q4 2024, selling an estimated $16.9M.
- Tom Gayner's ten largest holdings make up 40% of its $11.3B portfolio in Q4 2024.
- Tom Gayner opened 5 new positions and closed 5 in Q4 2024.
- Tom Gayner's portfolio value rose 2.1% quarter-over-quarter to $11.3B.
Based on Markel Group's 13F filing for Q4 2024, filed 7 Feb 2025.