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 |
Capital One
COF
|
+$10M |
| 2 |
Harley-Davidson
HOG
|
+$9.59M |
| 3 |
DISCK
Discovery, Inc. Series C Common Stock
DISCK
|
+$8.38M |
| 4 |
OAK
OAKTREE CAPITAL GROUP, LLC
OAK
|
+$6.89M |
| 5 |
JPMorgan Chase
JPM
|
+$6.42M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
CB
CHUBB CORPORATION
CB
|
+$29.9M |
| 2 |
Federated Hermes
FHI
|
+$4M |
| 3 |
Graham Holdings Company
GHC
|
+$2.25M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 29.98% |
| 2 | Consumer Discretionary | 16.71% |
| 3 | Industrials | 12.34% |
| 4 | Healthcare | 12.25% |
| 5 | Consumer Staples | 12.24% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
CarMax
KMX
$8.82B
| $291M | 7.68% |
4,913,070
| – | – |
|
2
Berkshire Hathaway Class A
BRK.A
$1.06T
| $211M | 5.55% |
1,079
+1
| +0.1% | +$206K |
|
|
3
Berkshire Hathaway Class B
BRK.B
$1.06T
| $197M | 5.19% |
1,511,607
| – | – |
|
|
WBA
4
DELISTED
Walgreens Boots Alliance
WBA
| $177M | 4.67% |
2,135,000
| – | – |
|
5
Walt Disney
DIS
$186B
| $161M | 4.24% |
1,575,500
+23,000
| +1% | +$2.5M |
|
6
Brookfield
BN
$93.1B
| $158M | 4.16% |
14,291,477
+51,257
| +0.4% | +$598K |
|
7
Diageo
DEO
$52.6B
| $137M | 3.61% |
1,271,000
+20,000
| +2% | +$2.22M |
|
8
Home Depot
HD
$335B
| $106M | 2.8% |
920,000
| – | – |
|
9
Marriott International
MAR
$92.9B
| $97M | 2.56% |
1,422,869
+39,000
| +3% | +$2.82M |
|
10
UnitedHealth
UNH
$350B
| $76.9M | 2.03% |
663,000
| – | – |
|
11
Deere & Co
DE
$175B
| $76.6M | 2.02% |
1,035,000
+50,000
| +5% | +$4.4M |
|
12
United Parcel Service
UPS
$86.8B
| $75.7M | 2% |
767,500
+12,000
| +2% | +$1.19M |
|
13
GE Aerospace
GE
$361B
| $74.7M | 1.97% |
618,266
| – | – |
|
14
Walmart Inc
WMT
$825B
| $71.2M | 1.88% |
3,294,000
| – | – |
|
15
ExxonMobil
XOM
$679B
| $69.9M | 1.84% |
940,800
+53,000
| +6% | +$4.08M |
|
16
RLI Corp
RLI
$6B
| $64.1M | 1.69% |
2,394,544
| – | – |
|
17
Unilever
UL
$138B
| $61M | 1.61% |
1,330,667
+22,223
| +2% | +$1.06M |
|
|
NVO
18
Novo Nordisk
NVO
$207B
| $58.3M | 1.54% |
2,150,000
| – | – |
|
19
Visa
V
$693B
| $58.1M | 1.53% |
834,000
+15,000
| +2% | +$1.07M |
|
|
20
Federated Hermes
FHI
$4.76B
| $58.1M | 1.53% |
2,009,000
-125,000
| -6% | -$4M |
|
21
Archer Daniels Midland
ADM
$38.7B
| $57M | 1.5% |
1,376,000
| – | – |
|
22
W.P. Carey
WPC
$16.2B
| $54.9M | 1.45% |
970,154
| – | – |
|
23
Johnson & Johnson
JNJ
$651B
| $54.3M | 1.43% |
582,200
+8,000
| +1% | +$774K |
|
24
General Dynamics
GD
$104B
| $53.4M | 1.41% |
387,000
| – | – |
|
25
Blackrock
BLK
$179B
| $45.2M | 1.19% |
152,000
+12,000
| +9% | +$3.87M |
|
Similar funds
Tom Gayner's Q3 2015 Portfolio in Review
As of Q3 2015, Tom Gayner held 121 positions worth $3.8B, down 5.2% from $4B the previous quarter. Its ten largest holdings account for 42% of the portfolio.
Tom Gayner's Q3 2015 filing shows 10 new, 56 increased, 2 reduced and 1 closed positions. Its largest new stake was Capital One: 125,000 shares worth $9.06M. The largest sale was CHUBB CORPORATION, an estimated $29.9M.
By sector, the portfolio is most concentrated in Financials at 30% of assets, down from 30% a quarter earlier, followed by Consumer Discretionary and Industrials.
- Tom Gayner's largest Q3 2015 buy was Capital One: 125,000 shares worth $9.06M.
- Tom Gayner added most to Harley-Davidson in Q3 2015, an estimated $9.59M increase.
- Tom Gayner's biggest Q3 2015 reduction was Federated Hermes, cutting an estimated $4M.
- Tom Gayner fully exited CHUBB CORPORATION in Q3 2015, selling an estimated $29.9M.
- Tom Gayner's ten largest holdings make up 42% of its $3.8B portfolio in Q3 2015.
- Tom Gayner opened 10 new positions and closed 1 in Q3 2015.
- Tom Gayner's portfolio value fell 5.2% quarter-over-quarter to $3.8B.
Based on Markel Group's 13F filing for Q3 2015, filed 9 Nov 2015.