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 |
Mohawk Industries
MHK
|
+$6.53M |
| 2 |
Illinois Tool Works
ITW
|
+$5.59M |
| 3 |
Progressive
PGR
|
+$4.47M |
| 4 |
Healthcare Services Group
HCSG
|
+$4.39M |
| 5 |
NVR
NVR
|
+$4.07M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
DISCK
Discovery, Inc. Series C Common Stock
DISCK
|
+$15.7M |
| 2 |
WBA
Walgreens Boots Alliance
WBA
|
+$5.36M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 33.19% |
| 2 | Consumer Discretionary | 19.77% |
| 3 | Industrials | 11.1% |
| 4 | Communication Services | 9.69% |
| 5 | Healthcare | 8.4% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
CarMax
KMX
$8.82B
| $431M | 5.98% |
4,913,070
| – | – |
|
2
Berkshire Hathaway Class A
BRK.A
$1.06T
| $375M | 5.21% |
1,105
+9
| +0.8% | +$2.93M |
|
|
3
Berkshire Hathaway Class B
BRK.B
$1.06T
| $346M | 4.8% |
1,526,357
+1,200
| +0.1% | +$261K |
|
4
Brookfield
BN
$93.1B
| $335M | 4.65% |
16,240,830
+35,034
| +0.2% | +$698K |
|
5
Walt Disney
DIS
$186B
| $268M | 3.72% |
1,854,430
+11,480
| +0.6% | +$1.6M |
|
6
Marriott International
MAR
$92.9B
| $240M | 3.33% |
1,585,269
+11,000
| +0.7% | +$1.47M |
|
7
Diageo
DEO
$52.6B
| $227M | 3.16% |
1,349,800
| – | – |
|
8
Home Depot
HD
$335B
| $201M | 2.79% |
920,000
| – | – |
|
9
Alphabet (Google) Class C
GOOG
$4.18T
| $181M | 2.52% |
2,711,160
+46,400
| +2% | +$2.99M |
|
10
Amazon
AMZN
$2.79T
| $181M | 2.51% |
1,958,640
+13,500
| +0.7% | +$1.19M |
|
11
Visa
V
$693B
| $179M | 2.49% |
955,150
+5,650
| +0.6% | +$1.02M |
|
12
UnitedHealth
UNH
$350B
| $176M | 2.44% |
599,000
| – | – |
|
13
Deere & Co
DE
$175B
| $174M | 2.42% |
1,005,900
| – | – |
|
|
WBA
14
DELISTED
Walgreens Boots Alliance
WBA
| $121M | 1.68% |
2,057,500
-93,000
| -4% | -$5.36M |
|
15
Blackrock
BLK
$179B
| $111M | 1.54% |
220,000
+2,800
| +1% | +$1.33M |
|
16
RLI Corp
RLI
$6B
| $108M | 1.5% |
2,394,544
| – | – |
|
17
Analog Devices
ADI
$182B
| $102M | 1.41% |
855,811
+12,000
| +1% | +$1.35M |
|
18
Texas Instruments
TXN
$241B
| $91.7M | 1.27% |
714,500
+11,000
| +2% | +$1.36M |
|
19
Automatic Data Processing
ADP
$112B
| $90.5M | 1.26% |
530,700
| – | – |
|
20
Johnson & Johnson
JNJ
$651B
| $89.1M | 1.24% |
610,800
| – | – |
|
21
Apple
AAPL
$4.51T
| $88.1M | 1.22% |
1,200,140
+11,400
| +1% | +$733K |
|
22
Unilever
UL
$138B
| $87.3M | 1.21% |
1,357,867
| – | – |
|
23
Goldman Sachs
GS
$303B
| $78.6M | 1.09% |
341,900
+7,710
| +2% | +$1.67M |
|
24
Microsoft
MSFT
$3.59T
| $74.8M | 1.04% |
474,620
+11,420
| +2% | +$1.68M |
|
25
Watsco Inc
WSO
$12.9B
| $69.8M | 0.97% |
387,500
+11,000
| +3% | +$1.93M |
|
Similar funds
Tom Gayner's Q4 2019 Portfolio in Review
As of Q4 2019, Tom Gayner held 134 positions worth $7.2B, up 8.8% from $6.62B the previous quarter. Its ten largest holdings account for 39% of the portfolio.
Trading was light in Q4 2019: portfolio turnover was 1.5%. Tom Gayner opened 2 new positions and made no exits, leaving the 134-position portfolio largely intact.
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 Q4 2019 buy was O-I Glass: 350,000 shares worth $4.17M.
- Tom Gayner added most to Mohawk Industries in Q4 2019, an estimated $6.53M increase.
- Tom Gayner's biggest Q4 2019 reduction was Discovery, Inc. Series C Common Stock, cutting an estimated $15.7M.
- Tom Gayner's ten largest holdings make up 39% of its $7.2B portfolio in Q4 2019.
- Tom Gayner opened 2 new positions and closed 0 in Q4 2019.
- Tom Gayner's portfolio value rose 8.8% quarter-over-quarter to $7.2B.
Based on Markel Group's 13F filing for Q4 2019, filed 7 Feb 2020.