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 |
Analog Devices
ADI
|
+$27.8M |
| 2 |
Dollar General
DG
|
+$8.41M |
| 3 |
Regeneron Pharmaceuticals
REGN
|
+$4.66M |
| 4 |
Texas Pacific Land
TPL
|
+$3.36M |
| 5 |
ATVI
Activision Blizzard
ATVI
|
+$2.47M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
MXIM
Maxim Integrated Products
MXIM
|
+$26.6M |
| 2 |
International Flavors & Fragrances
IFF
|
+$10.9M |
| 3 |
WIX.com
WIX
|
+$348K |
| 4 |
Netflix
NFLX
|
+$227K |
| 5 |
BNT
Brookfield Wealth Solutions
BNT
|
+$38 |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 40.88% |
| 2 | Consumer Discretionary | 13.46% |
| 3 | Communication Services | 11.64% |
| 4 | Industrials | 11.43% |
| 5 | Technology | 9.51% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Brookfield
BN
$93.1B
| $466M | 5.9% |
16,172,057
| – | – |
|
2
Berkshire Hathaway Class A
BRK.A
$1.06T
| $458M | 5.79% |
1,114
| – | – |
|
|
3
Berkshire Hathaway Class B
BRK.B
$1.06T
| $418M | 5.29% |
1,531,971
| – | – |
|
4
Alphabet (Google) Class C
GOOG
$4.18T
| $366M | 4.63% |
2,749,860
| – | – |
|
5
Amazon
AMZN
$2.79T
| $324M | 4.09% |
1,970,360
| – | – |
|
6
Walt Disney
DIS
$186B
| $315M | 3.99% |
1,864,165
| – | – |
|
7
Home Depot
HD
$335B
| $302M | 3.82% |
920,000
| – | – |
|
8
Diageo
DEO
$52.6B
| $261M | 3.29% |
1,350,208
| – | – |
|
9
Deere & Co
DE
$175B
| $253M | 3.2% |
755,800
| – | – |
|
10
Visa
V
$693B
| $213M | 2.7% |
958,040
| – | – |
|
11
Blackrock
BLK
$179B
| $185M | 2.33% |
220,200
| – | – |
|
|
12
Analog Devices
ADI
$182B
| $177M | 2.24% |
1,057,421
+166,010
| +19% | +$27.8M |
|
13
Apple
AAPL
$4.51T
| $170M | 2.14% |
1,198,540
| – | – |
|
14
Blackstone
BX
$108B
| $143M | 1.81% |
1,229,000
| – | – |
|
15
Texas Instruments
TXN
$241B
| $139M | 1.76% |
724,000
| – | – |
|
16
Microsoft
MSFT
$3.59T
| $135M | 1.71% |
479,980
| – | – |
|
17
Goldman Sachs
GS
$303B
| $130M | 1.64% |
343,860
| – | – |
|
18
RLI Corp
RLI
$6B
| $120M | 1.52% |
2,394,544
| – | – |
|
19
Lowe's Companies
LOW
$121B
| $119M | 1.51% |
588,980
| – | – |
|
20
Watsco Inc
WSO
$12.9B
| $110M | 1.39% |
414,250
+7,750
| +2% | +$2.17M |
|
|
NVO
21
Novo Nordisk
NVO
$207B
| $103M | 1.3% |
2,150,000
| – | – |
|
22
Johnson & Johnson
JNJ
$651B
| $98.6M | 1.25% |
610,800
| – | – |
|
|
MRSH
23
Marsh
MRSH
$91.6B
| $92.3M | 1.17% |
609,500
| – | – |
|
24
Archer Daniels Midland
ADM
$38.7B
| $87.8M | 1.11% |
1,463,300
| – | – |
|
25
KKR & Co
KKR
$97.4B
| $86.2M | 1.09% |
1,416,300
+8,500
| +0.6% | +$534K |
|
Similar funds
Tom Gayner's Q3 2021 Portfolio in Review
As of Q3 2021, Tom Gayner held 128 positions worth $7.91B, up 0.13% from $7.9B the previous quarter. Its ten largest holdings account for 43% of the portfolio.
Trading was light in Q3 2021: portfolio turnover was 4.7%. Tom Gayner opened 3 new positions and exited 3, leaving the 128-position portfolio largely intact.
By sector, the portfolio is most concentrated in Financials at 41% of assets, up from 41% a quarter earlier, followed by Consumer Discretionary and Communication Services.
- Tom Gayner's largest Q3 2021 buy was Dollar General: 37,250 shares worth $7.9M.
- Tom Gayner added most to Analog Devices in Q3 2021, an estimated $27.8M increase.
- Tom Gayner's biggest Q3 2021 reduction was International Flavors & Fragrances, cutting an estimated $10.9M.
- Tom Gayner fully exited Maxim Integrated Products in Q3 2021, selling an estimated $26.6M.
- Tom Gayner's ten largest holdings make up 43% of its $7.91B portfolio in Q3 2021.
- Tom Gayner opened 3 new positions and closed 3 in Q3 2021.
- Tom Gayner's portfolio value rose 0.13% quarter-over-quarter to $7.91B.
Based on Markel Group's 13F filing for Q3 2021, filed 5 Nov 2021.