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 |
LPL Financial
LPLA
|
+$28.1M |
| 2 |
Deere & Co
DE
|
+$14.7M |
| 3 |
Dollar General
DG
|
+$7.76M |
| 4 |
Analog Devices
ADI
|
+$6.3M |
| 5 |
Tyson Foods
TSN
|
+$5.83M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
ATVI
Activision Blizzard
ATVI
|
+$60.9M |
| 2 |
LBRDA
Liberty Broadband Class A
LBRDA
|
+$17.9M |
| 3 |
LBRDK
Liberty Broadband Class C
LBRDK
|
+$13.7M |
| 4 |
BNY
Bank of New York Mellon
BNY
|
+$11.2M |
| 5 |
Vontier
VNT
|
+$3.43M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 42.83% |
| 2 | Industrials | 14.19% |
| 3 | Consumer Discretionary | 11.89% |
| 4 | Technology | 9.68% |
| 5 | Communication Services | 9.01% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
126
AB InBev
BUD
$155B
| $711K | 0.01% |
11,000
| – | – |
|
127
Intercontinental Exchange
ICE
$90.5B
| $658K | 0.01% |
5,120
-27,957
| -85% | -$3.17M |
|
128
Comfort Systems
FIX
$58.3B
| $206K | ﹤0.01% |
+1,000
| New | +$185K |
|
|
LBRDA
129
DELISTED
Liberty Broadband Class A
LBRDA
| – | – |
-196,750
| Closed | -$17.9M |
|
|
LBRDK
130
DELISTED
Liberty Broadband Class C
LBRDK
| – | – |
-149,859
| Closed | -$13.7M |
|
131
Liberty Global Class A
LBTYA
$3.63B
| – | – |
-168,000
| Closed | -$2.88M |
|
132
Liberty Live Group Series A
LLYVA
$9.36B
| – | – |
-98,000
| Closed | -$3.13M |
|
|
133
Liberty Live Group Series C
LLYVK
$9.7B
| – | – |
-80,000
| Closed | -$2.57M |
|
|
134
Vontier
VNT
$4.46B
| – | – |
-110,853
| Closed | -$3.43M |
|
|
ATVI
135
DELISTED
Activision Blizzard
ATVI
| – | – |
-650,600
| Closed | -$60.9M |
|
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Tom Gayner's Q4 2023 Portfolio in Review
As of Q4 2023, Tom Gayner held 135 positions worth $9.2B, up 11% from $8.28B the previous quarter. Its ten largest holdings account for 39% of the portfolio.
Tom Gayner's Q4 2023 filing shows 2 new, 43 increased, 2 reduced and 7 closed positions. Its largest new stake was Graphic Packaging: 121,601 shares worth $3M. The largest sale was Activision Blizzard, an estimated $60.9M.
By sector, the portfolio is most concentrated in Financials at 43% of assets, up from 42% a quarter earlier, followed by Industrials and Consumer Discretionary.
- Tom Gayner's largest Q4 2023 buy was Graphic Packaging: 121,601 shares worth $3M.
- Tom Gayner added most to LPL Financial in Q4 2023, an estimated $28.1M increase.
- Tom Gayner's biggest Q4 2023 reduction was Bank of New York Mellon, cutting an estimated $11.2M.
- Tom Gayner fully exited Activision Blizzard in Q4 2023, selling an estimated $60.9M.
- Tom Gayner's ten largest holdings make up 39% of its $9.2B portfolio in Q4 2023.
- Tom Gayner opened 2 new positions and closed 7 in Q4 2023.
- Tom Gayner's portfolio value rose 11% quarter-over-quarter to $9.2B.
Based on Markel Group's 13F filing for Q4 2023, filed 2 Feb 2024.