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 |
Deere & Co
DE
|
+$46.2M |
| 2 |
Liberty Media Series C
FWONK
|
+$24.7M |
| 3 |
Unilever
UL
|
+$12.5M |
| 4 |
CB
CHUBB CORPORATION
CB
|
+$4.74M |
| 5 |
MRSH
Marsh
MRSH
|
+$4.69M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Liberty Media Series A
FWONA
|
+$19.9M |
| 2 |
Teva Pharmaceuticals
TEVA
|
+$13.2M |
| 3 |
BRSL
Brightstar Lottery PLC
BRSL
|
+$11.6M |
| 4 |
Northern Trust
NTRS
|
+$8.99M |
| 5 |
BUD
ANHEUSER BUSCH COS INC
BUD
|
+$1.15M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 32.7% |
| 2 | Consumer Discretionary | 14.08% |
| 3 | Consumer Staples | 13.7% |
| 4 | Healthcare | 12.13% |
| 5 | Industrials | 10.63% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
CarMax
KMX
$8.82B
| $231M | 6.5% |
4,963,070
| – | – |
|
2
Berkshire Hathaway Class A
BRK.A
$1.06T
| $223M | 6.29% |
1,078
| – | – |
|
|
3
Berkshire Hathaway Class B
BRK.B
$1.06T
| $209M | 5.89% |
1,511,607
| – | – |
|
4
Brookfield
BN
$93.1B
| $148M | 4.17% |
14,038,045
+93,970
| +0.7% | +$1.01M |
|
5
Diageo
DEO
$52.6B
| $142M | 4% |
1,230,000
+14,000
| +1% | +$1.7M |
|
6
Walt Disney
DIS
$186B
| $135M | 3.8% |
1,514,500
+15,000
| +1% | +$1.32M |
|
|
WBA
7
DELISTED
Walgreens Boots Alliance
WBA
| $127M | 3.57% |
2,135,000
| – | – |
|
|
FFH
8
DELISTED
FAIRFAX FINL HLDGS LTD SUB VTG
FFH
| $125M | 3.52% |
279,459
| – | – |
|
9
Marriott International
MAR
$92.9B
| $93M | 2.62% |
1,330,869
+25,000
| +2% | +$1.69M |
|
10
Home Depot
HD
$335B
| $84.4M | 2.38% |
920,000
| – | – |
|
11
Walmart Inc
WMT
$825B
| $84M | 2.37% |
3,294,000
| – | – |
|
12
ExxonMobil
XOM
$679B
| $81.7M | 2.3% |
868,800
| – | – |
|
13
GE Aerospace
GE
$361B
| $73.6M | 2.08% |
599,695
+12,103
| +2% | +$1.51M |
|
14
United Parcel Service
UPS
$86.8B
| $71.4M | 2.01% |
726,500
+11,000
| +2% | +$1.09M |
|
15
Archer Daniels Midland
ADM
$38.7B
| $70.3M | 1.98% |
1,376,000
| – | – |
|
16
Federated Hermes
FHI
$4.76B
| $62.7M | 1.77% |
2,134,000
| – | – |
|
17
Enovis
ENOV
$1.5B
| $61.8M | 1.74% |
630,426
| – | – |
|
18
Johnson & Johnson
JNJ
$651B
| $61.2M | 1.73% |
574,200
| – | – |
|
19
W.P. Carey
WPC
$16.2B
| $60.6M | 1.71% |
970,154
| – | – |
|
20
UnitedHealth
UNH
$350B
| $55.5M | 1.57% |
644,000
+17,000
| +3% | +$1.44M |
|
21
RLI Corp
RLI
$6B
| $51.8M | 1.46% |
2,394,544
| – | – |
|
|
NVO
22
Novo Nordisk
NVO
$207B
| $51.2M | 1.44% |
2,150,000
| – | – |
|
|
23
Unilever
UL
$138B
| $50.2M | 1.41% |
1,064,000
+253,333
| +31% | +$12.5M |
|
24
General Dynamics
GD
$104B
| $49.2M | 1.39% |
387,000
| – | – |
|
25
AB InBev
BUD
$155B
| $47.1M | 1.33% |
425,000
+10,000
| +2% | +$1.12M |
|
Similar funds
Tom Gayner's Q3 2014 Portfolio in Review
As of Q3 2014, Tom Gayner held 108 positions worth $3.55B, up 1.1% from $3.51B the previous quarter. Its ten largest holdings account for 43% of the portfolio.
Tom Gayner's Q3 2014 filing shows 4 new, 39 increased, 3 reduced and 5 closed positions. Its largest new stake was Deere & Co: 540,000 shares worth $44.3M. The largest sale was Liberty Media Series A, an estimated $19.9M.
By sector, the portfolio is most concentrated in Financials at 33% of assets, up from 32% a quarter earlier, followed by Consumer Discretionary and Consumer Staples.
- Tom Gayner's largest Q3 2014 buy was Deere & Co: 540,000 shares worth $44.3M.
- Tom Gayner added most to Unilever in Q3 2014, an estimated $12.5M increase.
- Tom Gayner's biggest Q3 2014 reduction was Liberty Media Series A, cutting an estimated $19.9M.
- Tom Gayner fully exited Northern Trust in Q3 2014, selling an estimated $8.99M.
- Tom Gayner's ten largest holdings make up 43% of its $3.55B portfolio in Q3 2014.
- Tom Gayner opened 4 new positions and closed 5 in Q3 2014.
- Tom Gayner's portfolio value rose 1.1% quarter-over-quarter to $3.55B.
Based on Markel Group's 13F filing for Q3 2014, filed 12 Nov 2014.