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 |
Regeneron Pharmaceuticals
REGN
|
+$22.2M |
| 2 |
Equifax
EFX
|
+$1.43M |
| 3 |
Progressive
PGR
|
+$1.42M |
| 4 |
International Flavors & Fragrances
IFF
|
+$1.29M |
| 5 |
Watsco Inc
WSO
|
+$1.11M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Microchip Technology
MCHP
|
+$16M |
| 2 |
O-I Glass
OI
|
+$4.56M |
| 3 |
Guidewire Software
GWRE
|
+$1.67M |
| 4 |
Archer Daniels Midland
ADM
|
+$823K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 39.4% |
| 2 | Consumer Discretionary | 14.08% |
| 3 | Industrials | 12.79% |
| 4 | Communication Services | 11.85% |
| 5 | Technology | 9.25% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Berkshire Hathaway Class A
BRK.A
$1.06T
| $430M | 5.95% |
1,114
| – | – |
|
|
2
Berkshire Hathaway Class B
BRK.B
$1.06T
| $391M | 5.42% |
1,531,971
| – | – |
|
3
Brookfield
BN
$93.1B
| $388M | 5.36% |
16,272,556
+4,447
| +0% | +$99.2K |
|
4
Walt Disney
DIS
$186B
| $344M | 4.76% |
1,863,945
+360
| +0% | +$66.4K |
|
5
Amazon
AMZN
$2.79T
| $305M | 4.22% |
1,968,840
| – | – |
|
6
Alphabet (Google) Class C
GOOG
$4.18T
| $284M | 3.94% |
2,749,860
| – | – |
|
7
Deere & Co
DE
$175B
| $283M | 3.91% |
755,800
| – | – |
|
8
Home Depot
HD
$335B
| $281M | 3.89% |
920,000
| – | – |
|
9
Diageo
DEO
$52.6B
| $222M | 3.07% |
1,350,208
+100
| +0% | +$16.4K |
|
10
Visa
V
$693B
| $203M | 2.81% |
957,680
+940
| +0.1% | +$198K |
|
11
Blackrock
BLK
$179B
| $166M | 2.3% |
220,200
| – | – |
|
12
Apple
AAPL
$4.51T
| $146M | 2.03% |
1,198,540
| – | – |
|
13
Analog Devices
ADI
$182B
| $137M | 1.9% |
885,811
| – | – |
|
14
Texas Instruments
TXN
$241B
| $137M | 1.89% |
724,000
| – | – |
|
15
RLI Corp
RLI
$6B
| $134M | 1.85% |
2,394,544
| – | – |
|
16
Microsoft
MSFT
$3.59T
| $113M | 1.56% |
479,300
+580
| +0.1% | +$135K |
|
17
Goldman Sachs
GS
$303B
| $112M | 1.56% |
343,660
+160
| +0% | +$49.8K |
|
18
Lowe's Companies
LOW
$121B
| $112M | 1.55% |
588,680
+180
| +0% | +$30.9K |
|
|
19
Watsco Inc
WSO
$12.9B
| $105M | 1.46% |
403,500
+4,500
| +1% | +$1.11M |
|
20
Johnson & Johnson
JNJ
$651B
| $100M | 1.39% |
610,800
| – | – |
|
21
Blackstone
BX
$108B
| $91.6M | 1.27% |
1,229,000
| – | – |
|
|
22
Archer Daniels Midland
ADM
$38.7B
| $83.4M | 1.15% |
1,463,300
-15,000
| -1% | -$823K |
|
|
MRSH
23
Marsh
MRSH
$91.6B
| $74.2M | 1.03% |
609,500
| – | – |
|
24
Mastercard
MA
$509B
| $73.9M | 1.02% |
207,440
+40
| +0% | +$14K |
|
25
Illinois Tool Works
ITW
$80.4B
| $72.5M | 1% |
327,500
| – | – |
|
Similar funds
Tom Gayner's Q1 2021 Portfolio in Review
As of Q1 2021, Tom Gayner held 119 positions worth $7.23B, up 7.6% from $6.71B the previous quarter. Its ten largest holdings account for 43% of the portfolio.
Trading was light in Q1 2021: portfolio turnover was 4.2%. Tom Gayner opened 4 new positions and exited 1, leaving the 119-position portfolio largely intact.
By sector, the portfolio is most concentrated in Financials at 39% of assets, up from 39% a quarter earlier, followed by Consumer Discretionary and Industrials.
- Tom Gayner's largest Q1 2021 buy was Regeneron Pharmaceuticals: 45,500 shares worth $21.5M.
- Tom Gayner added most to Equifax in Q1 2021, an estimated $1.43M increase.
- Tom Gayner's biggest Q1 2021 reduction was Microchip Technology, cutting an estimated $16M.
- Tom Gayner fully exited Guidewire Software in Q1 2021, selling an estimated $1.67M.
- Tom Gayner's ten largest holdings make up 43% of its $7.23B portfolio in Q1 2021.
- Tom Gayner opened 4 new positions and closed 1 in Q1 2021.
- Tom Gayner's portfolio value rose 7.6% quarter-over-quarter to $7.23B.
Based on Markel Group's 13F filing for Q1 2021, filed 30 Apr 2021.