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 |
Amazon
AMZN
|
+$9.82M |
| 2 |
Alphabet (Google) Class C
GOOG
|
+$9.32M |
| 3 |
Goldman Sachs
GS
|
+$4.96M |
| 4 |
Blackstone
BX
|
+$2.96M |
| 5 |
Brookfield
BN
|
+$2.95M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
ExxonMobil
XOM
|
+$31.8M |
| 2 |
Core Laboratories
CLB
|
+$11.1M |
| 3 |
NXP Semiconductors
NXPI
|
+$3.83M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 32.25% |
| 2 | Consumer Discretionary | 17.93% |
| 3 | Industrials | 11.37% |
| 4 | Healthcare | 11.24% |
| 5 | Consumer Staples | 8.98% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
CarMax
KMX
$8.82B
| $372M | 7.42% |
4,913,070
| – | – |
|
2
Berkshire Hathaway Class A
BRK.A
$1.06T
| $299M | 5.95% |
1,088
| – | – |
|
|
3
Berkshire Hathaway Class B
BRK.B
$1.06T
| $277M | 5.52% |
1,511,607
| – | – |
|
|
4
Brookfield
BN
$93.1B
| $224M | 4.47% |
15,235,154
+210,205
| +1% | +$2.95M |
|
5
Diageo
DEO
$52.6B
| $178M | 3.55% |
1,349,800
+2,000
| +0.1% | +$258K |
|
6
Walt Disney
DIS
$186B
| $167M | 3.33% |
1,699,200
+12,000
| +0.7% | +$1.23M |
|
7
Marriott International
MAR
$92.9B
| $166M | 3.31% |
1,508,269
| – | – |
|
|
WBA
8
DELISTED
Walgreens Boots Alliance
WBA
| $165M | 3.28% |
2,135,000
| – | – |
|
9
Home Depot
HD
$335B
| $150M | 3% |
920,000
| – | – |
|
10
Deere & Co
DE
$175B
| $138M | 2.74% |
1,095,400
| – | – |
|
11
UnitedHealth
UNH
$350B
| $130M | 2.59% |
663,000
| – | – |
|
12
Visa
V
$693B
| $96.2M | 1.92% |
914,300
+10,000
| +1% | +$1.01M |
|
|
13
Alphabet (Google) Class C
GOOG
$4.18T
| $93.1M | 1.85% |
1,940,620
+200,000
| +11% | +$9.32M |
|
14
Unilever
UL
$138B
| $88.5M | 1.76% |
1,357,867
| – | – |
|
15
Blackrock
BLK
$179B
| $80.5M | 1.6% |
180,000
+5,000
| +3% | +$2.13M |
|
16
General Dynamics
GD
$104B
| $79.6M | 1.58% |
387,000
| – | – |
|
17
Johnson & Johnson
JNJ
$651B
| $79.4M | 1.58% |
610,800
| – | – |
|
|
18
Amazon
AMZN
$2.79T
| $76.9M | 1.53% |
1,600,000
+200,000
| +14% | +$9.82M |
|
19
RLI Corp
RLI
$6B
| $68.7M | 1.37% |
2,394,544
| – | – |
|
20
W.P. Carey
WPC
$16.2B
| $64M | 1.27% |
970,154
| – | – |
|
21
Archer Daniels Midland
ADM
$38.7B
| $62.2M | 1.24% |
1,463,300
| – | – |
|
22
Automatic Data Processing
ADP
$112B
| $58M | 1.16% |
530,700
| – | – |
|
|
NVO
23
Novo Nordisk
NVO
$207B
| $51.8M | 1.03% |
2,150,000
| – | – |
|
|
MRSH
24
Marsh
MRSH
$91.6B
| $51.1M | 1.02% |
609,500
| – | – |
|
|
MON
25
DELISTED
Monsanto Co
MON
| $47.5M | 0.95% |
396,700
| – | – |
|
Similar funds
Tom Gayner's Q3 2017 Portfolio in Review
As of Q3 2017, Tom Gayner held 141 positions worth $5.02B, up 7.1% from $4.69B the previous quarter. Its ten largest holdings account for 43% of the portfolio.
Trading was light in Q3 2017: portfolio turnover was 3.5%. Tom Gayner opened 3 new positions and exited 2, leaving the 141-position portfolio largely intact.
By sector, the portfolio is most concentrated in Financials at 32% of assets, up from 32% a quarter earlier, followed by Consumer Discretionary and Industrials.
- Tom Gayner's largest Q3 2017 buy was International Flavors & Fragrances: 8,000 shares worth $1.14M.
- Tom Gayner added most to Amazon in Q3 2017, an estimated $9.82M increase.
- Tom Gayner's biggest Q3 2017 reduction was ExxonMobil, cutting an estimated $31.8M.
- Tom Gayner fully exited Core Laboratories in Q3 2017, selling an estimated $11.1M.
- Tom Gayner's ten largest holdings make up 43% of its $5.02B portfolio in Q3 2017.
- Tom Gayner opened 3 new positions and closed 2 in Q3 2017.
- Tom Gayner's portfolio value rose 7.1% quarter-over-quarter to $5.02B.
Based on Markel Group's 13F filing for Q3 2017, filed 27 Oct 2017.