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 |
Goldman Sachs
GS
|
+$25.5M |
| 2 |
Southwest Airlines
LUV
|
+$7.51M |
| 3 |
NVR
NVR
|
+$7.47M |
| 4 |
ScottsMiracle-Gro
SMG
|
+$7.12M |
| 5 |
Delta Air Lines
DAL
|
+$7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
OAK
OAKTREE CAPITAL GROUP, LLC
OAK
|
+$34.8M |
| 2 |
Chipotle Mexican Grill
CMG
|
+$5.83M |
| 3 |
Verizon
VZ
|
+$5.5M |
| 4 |
Meta Platforms (Facebook)
META
|
+$466K |
| 5 |
Booking.com
BKNG
|
+$89.8K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 32.98% |
| 2 | Consumer Discretionary | 20.2% |
| 3 | Industrials | 10.94% |
| 4 | Communication Services | 9.82% |
| 5 | Consumer Staples | 8.25% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
CarMax
KMX
$8.82B
| $427M | 6.56% |
4,913,070
| – | – |
|
2
Berkshire Hathaway Class A
BRK.A
$1.06T
| $349M | 5.36% |
1,096
| – | – |
|
|
3
Berkshire Hathaway Class B
BRK.B
$1.06T
| $325M | 4.99% |
1,522,987
+1,870
| +0.1% | +$387K |
|
4
Brookfield
BN
$93.1B
| $275M | 4.23% |
16,155,907
+74,693
| +0.5% | +$1.26M |
|
5
Walt Disney
DIS
$186B
| $255M | 3.91% |
1,823,000
+16,500
| +0.9% | +$2.19M |
|
6
Diageo
DEO
$52.6B
| $233M | 3.58% |
1,349,800
| – | – |
|
7
Marriott International
MAR
$92.9B
| $219M | 3.36% |
1,559,269
+21,000
| +1% | +$2.79M |
|
8
Home Depot
HD
$335B
| $191M | 2.94% |
920,000
| – | – |
|
9
Amazon
AMZN
$2.79T
| $179M | 2.76% |
1,894,140
+29,400
| +2% | +$2.74M |
|
10
Deere & Co
DE
$175B
| $167M | 2.56% |
1,005,900
| – | – |
|
11
Visa
V
$693B
| $163M | 2.5% |
938,300
+6,500
| +0.7% | +$1.06M |
|
12
UnitedHealth
UNH
$350B
| $146M | 2.25% |
599,000
| – | – |
|
13
Alphabet (Google) Class C
GOOG
$4.18T
| $139M | 2.14% |
2,580,460
+101,680
| +4% | +$5.87M |
|
|
WBA
14
DELISTED
Walgreens Boots Alliance
WBA
| $117M | 1.81% |
2,148,000
| – | – |
|
15
RLI Corp
RLI
$6B
| $103M | 1.58% |
2,394,544
| – | – |
|
16
Blackrock
BLK
$179B
| $99.9M | 1.54% |
212,800
+6,100
| +3% | +$2.76M |
|
17
Unilever
UL
$138B
| $94.7M | 1.46% |
1,357,867
| – | – |
|
18
Analog Devices
ADI
$182B
| $91.7M | 1.41% |
812,811
+58,000
| +8% | +$6.28M |
|
19
Automatic Data Processing
ADP
$112B
| $87.7M | 1.35% |
530,700
| – | – |
|
20
Johnson & Johnson
JNJ
$651B
| $85.1M | 1.31% |
610,800
| – | – |
|
21
Texas Instruments
TXN
$241B
| $77.7M | 1.19% |
677,000
+19,000
| +3% | +$2.12M |
|
22
General Dynamics
GD
$104B
| $70.4M | 1.08% |
387,000
| – | – |
|
23
Elevance Health
ELV
$86.9B
| $63.2M | 0.97% |
224,000
| – | – |
|
|
24
Goldman Sachs
GS
$303B
| $60.9M | 0.94% |
297,600
+128,720
| +76% | +$25.5M |
|
|
MRSH
25
Marsh
MRSH
$91.6B
| $60.8M | 0.93% |
609,500
| – | – |
|
Similar funds
Tom Gayner's Q2 2019 Portfolio in Review
As of Q2 2019, Tom Gayner held 139 positions worth $6.5B, up 9% from $5.97B the previous quarter. Its ten largest holdings account for 40% of the portfolio.
Tom Gayner's Q2 2019 filing shows 6 new, 57 increased, 4 reduced and 2 closed positions. Its largest new stake was Bank of New York Mellon: 80,000 shares worth $3.53M. The largest sale was OAKTREE CAPITAL GROUP, LLC, an estimated $34.8M.
By sector, the portfolio is most concentrated in Financials at 33% of assets, up from 33% a quarter earlier, followed by Consumer Discretionary and Industrials.
- Tom Gayner's largest Q2 2019 buy was Bank of New York Mellon: 80,000 shares worth $3.53M.
- Tom Gayner added most to Goldman Sachs in Q2 2019, an estimated $25.5M increase.
- Tom Gayner's biggest Q2 2019 reduction was OAKTREE CAPITAL GROUP, LLC, cutting an estimated $34.8M.
- Tom Gayner fully exited Chipotle Mexican Grill in Q2 2019, selling an estimated $5.83M.
- Tom Gayner's ten largest holdings make up 40% of its $6.5B portfolio in Q2 2019.
- Tom Gayner opened 6 new positions and closed 2 in Q2 2019.
- Tom Gayner's portfolio value rose 9% quarter-over-quarter to $6.5B.
Based on Markel Group's 13F filing for Q2 2019, filed 2 Aug 2019.