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 | |
|---|---|---|---|---|---|---|
126
Skyward Specialty Insurance
SKWD
$2.31B
| $1.31M | 0.02% |
+60,064
| New | +$1.17M |
|
127
CoStar Group
CSGP
$13.1B
| $1.28M | 0.02% |
18,600
| – | – |
|
|
HGTY.WS
128
DELISTED
Hagerty, Inc. Warrants, each whole warrant entitles the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share
HGTY.WS
| $1.23M | 0.02% |
540,000
| – | – |
|
129
Intuit
INTU
$100B
| $1.21M | 0.02% |
2,720
| – | – |
|
|
DNB
130
DELISTED
Dun & Bradstreet
DNB
| $939K | 0.01% |
80,000
+15,000
| +23% | +$190K |
|
131
Lamar Advertising Co
LAMR
$15.3B
| $849K | 0.01% |
8,500
| – | – |
|
132
Axalta
AXTA
$7.75B
| – | – |
-28,442
| Closed | -$724K |
|
|
133
Enovis
ENOV
$1.5B
| – | – |
-178,356
| Closed | -$9.55M |
|
|
134
Netflix
NFLX
$331B
| – | – |
-430,000
| Closed | -$12.7M |
|
|
135
Regeneron Pharmaceuticals
REGN
$85.9B
| – | – |
-30,500
| Closed | -$22M |
|
|
DCT
136
DELISTED
Duck Creek Technologies, Inc. Common Stock
DCT
| – | – |
-25,250
| Closed | -$304K |
|
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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.