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 |
BNY
Bank of New York Mellon
BNY
|
+$4.03M |
| 2 |
Mohawk Industries
MHK
|
+$4.03M |
| 3 |
Analog Devices
ADI
|
+$3.28M |
| 4 |
Healthcare Services Group
HCSG
|
+$3.21M |
| 5 |
Berkshire Hathaway Class A
BRK.A
|
+$2.87M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
UnitedHealth
UNH
|
+$176M |
| 2 |
Unilever
UL
|
+$87.3M |
| 3 |
ScottsMiracle-Gro
SMG
|
+$44.8M |
| 4 |
Hasbro
HAS
|
+$38.4M |
| 5 |
WBA
Walgreens Boots Alliance
WBA
|
+$14M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 36.56% |
| 2 | Consumer Discretionary | 18.7% |
| 3 | Industrials | 11.27% |
| 4 | Communication Services | 9.92% |
| 5 | Technology | 8.77% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Berkshire Hathaway Class A
BRK.A
$1.06T
| $303M | 5.7% |
1,114
+9
| +0.8% | +$2.87M |
|
|
2
Berkshire Hathaway Class B
BRK.B
$1.06T
| $280M | 5.27% |
1,531,687
+5,330
| +0.3% | +$1.13M |
|
3
CarMax
KMX
$8.82B
| $264M | 4.97% |
4,913,070
| – | – |
|
4
Brookfield
BN
$93.1B
| $257M | 4.83% |
16,257,086
+16,256
| +0.1% | +$334K |
|
5
Amazon
AMZN
$2.79T
| $192M | 3.61% |
1,968,840
+10,200
| +0.5% | +$987K |
|
6
Walt Disney
DIS
$186B
| $180M | 3.38% |
1,862,380
+7,950
| +0.4% | +$1.01M |
|
7
Home Depot
HD
$335B
| $172M | 3.23% |
920,000
| – | – |
|
8
Diageo
DEO
$52.6B
| $172M | 3.23% |
1,349,800
| – | – |
|
9
Alphabet (Google) Class C
GOOG
$4.18T
| $160M | 3.01% |
2,749,860
+38,700
| +1% | +$2.63M |
|
10
Visa
V
$693B
| $154M | 2.9% |
956,650
+1,500
| +0.2% | +$283K |
|
11
Deere & Co
DE
$175B
| $139M | 2.61% |
1,005,900
| – | – |
|
12
Marriott International
MAR
$92.9B
| $119M | 2.24% |
1,592,769
+7,500
| +0.5% | +$933K |
|
13
RLI Corp
RLI
$6B
| $105M | 1.98% |
2,394,544
| – | – |
|
14
Blackrock
BLK
$179B
| $96.9M | 1.82% |
220,200
+200
| +0.1% | +$98.5K |
|
|
WBA
15
DELISTED
Walgreens Boots Alliance
WBA
| $81.5M | 1.53% |
1,782,500
-275,000
| -13% | -$14M |
|
16
Johnson & Johnson
JNJ
$651B
| $80.1M | 1.51% |
610,800
| – | – |
|
|
17
Analog Devices
ADI
$182B
| $79.4M | 1.49% |
885,811
+30,000
| +4% | +$3.28M |
|
18
Apple
AAPL
$4.51T
| $76.4M | 1.44% |
1,202,540
+2,400
| +0.2% | +$177K |
|
19
Microsoft
MSFT
$3.59T
| $75.5M | 1.42% |
478,620
+4,000
| +0.8% | +$658K |
|
20
Automatic Data Processing
ADP
$112B
| $72.5M | 1.36% |
530,700
| – | – |
|
21
Texas Instruments
TXN
$241B
| $72.3M | 1.36% |
724,000
+9,500
| +1% | +$1.14M |
|
|
NVO
22
Novo Nordisk
NVO
$207B
| $64.7M | 1.22% |
2,150,000
| – | – |
|
23
Watsco Inc
WSO
$12.9B
| $62.7M | 1.18% |
397,000
+9,500
| +2% | +$1.6M |
|
24
Blackstone
BX
$108B
| $56M | 1.05% |
1,229,000
+6,000
| +0.5% | +$332K |
|
25
Goldman Sachs
GS
$303B
| $53M | 1% |
342,800
+900
| +0.3% | +$191K |
|
Similar funds
Tom Gayner's Q1 2020 Portfolio in Review
As of Q1 2020, Tom Gayner held 139 positions worth $5.32B, down 26% from $7.2B the previous quarter. Its ten largest holdings account for 40% of the portfolio.
Tom Gayner withdrew a net $344M in Q1 2020, closing 9 positions and reducing 3 holdings. Its most notable exit was UnitedHealth, an estimated $176M position sold in full.
By sector, the portfolio is most concentrated in Financials at 37% of assets, up from 33% a quarter earlier, followed by Consumer Discretionary and Industrials.
Against the trend, Tom Gayner opened a new position in Guidewire Software worth $1.03M.
- Tom Gayner's largest Q1 2020 buy was Guidewire Software: 13,000 shares worth $1.03M.
- Tom Gayner added most to Bank of New York Mellon in Q1 2020, an estimated $4.03M increase.
- Tom Gayner's biggest Q1 2020 reduction was Walgreens Boots Alliance, cutting an estimated $14M.
- Tom Gayner fully exited UnitedHealth in Q1 2020, selling an estimated $176M.
- Tom Gayner's ten largest holdings make up 40% of its $5.32B portfolio in Q1 2020.
- Tom Gayner opened 5 new positions and closed 9 in Q1 2020.
- Tom Gayner's portfolio value fell 26% quarter-over-quarter to $5.32B.
Based on Markel Group's 13F filing for Q1 2020, filed 1 May 2020.