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 |
Progressive
PGR
|
+$12M |
| 2 |
Starbucks
SBUX
|
+$9.08M |
| 3 |
Capital One
COF
|
+$7.47M |
| 4 |
Alphabet (Google) Class C
GOOG
|
+$7.33M |
| 5 |
Goldman Sachs
GS
|
+$6.99M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
MON
Monsanto Co
MON
|
+$46.3M |
| 2 |
Moody's
MCO
|
+$14.6M |
| 3 |
Brown-Forman Class A
BF.A
|
+$11.3M |
| 4 |
Factset
FDS
|
+$9.69M |
| 5 |
PACCAR
PCAR
|
+$8.41M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 33.83% |
| 2 | Consumer Discretionary | 18.26% |
| 3 | Industrials | 12.08% |
| 4 | Healthcare | 10.06% |
| 5 | Consumer Staples | 8.82% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Berkshire Hathaway Class A
BRK.A
$1.06T
| $327M | 6.22% |
1,094
+6
| +0.6% | +$1.85M |
|
2
CarMax
KMX
$8.82B
| $304M | 5.78% |
4,913,070
| – | – |
|
|
3
Berkshire Hathaway Class B
BRK.B
$1.06T
| $302M | 5.74% |
1,512,702
+1,095
| +0.1% | +$225K |
|
4
Brookfield
BN
$93.1B
| $216M | 4.11% |
15,541,492
+306,338
| +2% | +$4.43M |
|
5
Marriott International
MAR
$92.9B
| $205M | 3.9% |
1,508,269
| – | – |
|
6
Diageo
DEO
$52.6B
| $183M | 3.47% |
1,349,800
| – | – |
|
7
Walt Disney
DIS
$186B
| $175M | 3.33% |
1,742,700
+43,500
| +3% | +$4.62M |
|
8
Deere & Co
DE
$175B
| $170M | 3.23% |
1,095,400
| – | – |
|
9
Home Depot
HD
$335B
| $164M | 3.12% |
920,000
| – | – |
|
10
UnitedHealth
UNH
$350B
| $142M | 2.7% |
663,000
| – | – |
|
|
WBA
11
DELISTED
Walgreens Boots Alliance
WBA
| $140M | 2.66% |
2,135,000
| – | – |
|
12
Amazon
AMZN
$2.79T
| $123M | 2.33% |
1,694,400
+94,400
| +6% | +$6.75M |
|
13
Visa
V
$693B
| $110M | 2.09% |
920,400
+6,100
| +0.7% | +$739K |
|
|
14
Alphabet (Google) Class C
GOOG
$4.18T
| $107M | 2.03% |
2,073,480
+132,860
| +7% | +$7.33M |
|
15
Blackrock
BLK
$179B
| $102M | 1.93% |
187,600
+7,600
| +4% | +$4.17M |
|
16
General Dynamics
GD
$104B
| $85.5M | 1.63% |
387,000
| – | – |
|
17
Unilever
UL
$138B
| $84.9M | 1.61% |
1,357,867
| – | – |
|
18
Johnson & Johnson
JNJ
$651B
| $78.3M | 1.49% |
610,800
| – | – |
|
19
RLI Corp
RLI
$6B
| $75.9M | 1.44% |
2,394,544
| – | – |
|
20
Archer Daniels Midland
ADM
$38.7B
| $63.5M | 1.21% |
1,463,300
| – | – |
|
21
Automatic Data Processing
ADP
$112B
| $60.2M | 1.14% |
530,700
| – | – |
|
22
Texas Instruments
TXN
$241B
| $59.7M | 1.14% |
575,000
+49,000
| +9% | +$5.31M |
|
23
W.P. Carey
WPC
$16.2B
| $58.9M | 1.12% |
970,154
| – | – |
|
|
SCHW
24
Charles Schwab
SCHW
$194B
| $55.2M | 1.05% |
1,057,000
| – | – |
|
25
Analog Devices
ADI
$182B
| $53.6M | 1.02% |
587,811
+50,000
| +9% | +$4.55M |
|
Similar funds
Tom Gayner's Q1 2018 Portfolio in Review
As of Q1 2018, Tom Gayner held 144 positions worth $5.26B, down 0.68% from $5.3B the previous quarter. Its ten largest holdings account for 42% of the portfolio.
Tom Gayner's Q1 2018 filing shows 6 new, 42 increased, 5 reduced and 7 closed positions. Its largest new stake was Progressive: 210,000 shares worth $12.8M. The largest sale was Monsanto Co, an estimated $46.3M.
By sector, the portfolio is most concentrated in Financials at 34% of assets, up from 33% a quarter earlier, followed by Consumer Discretionary and Industrials.
- Tom Gayner's largest Q1 2018 buy was Progressive: 210,000 shares worth $12.8M.
- Tom Gayner added most to Starbucks in Q1 2018, an estimated $9.08M increase.
- Tom Gayner's biggest Q1 2018 reduction was Moody's, cutting an estimated $14.6M.
- Tom Gayner fully exited Monsanto Co in Q1 2018, selling an estimated $46.3M.
- Tom Gayner's ten largest holdings make up 42% of its $5.26B portfolio in Q1 2018.
- Tom Gayner opened 6 new positions and closed 7 in Q1 2018.
- Tom Gayner's portfolio value fell 0.68% quarter-over-quarter to $5.26B.
Based on Markel Group's 13F filing for Q1 2018, filed 27 Apr 2018.