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 |
ESAB
ESAB
|
+$18.3M |
| 2 |
Netflix
NFLX
|
+$9.53M |
| 3 |
Watsco Inc
WSO
|
+$6.58M |
| 4 |
SEI Investments
SEIC
|
+$6.41M |
| 5 |
Cable One
CABO
|
+$6.36M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Enovis
ENOV
|
+$18.1M |
| 2 |
Equifax
EFX
|
+$11.1M |
| 3 |
Ecolab
ECL
|
+$5.8M |
| 4 |
Y
Alleghany Corp
Y
|
+$3.67M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 42.06% |
| 2 | Industrials | 12.14% |
| 3 | Consumer Discretionary | 11.34% |
| 4 | Communication Services | 9.89% |
| 5 | Technology | 9.79% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Berkshire Hathaway Class A
BRK.A
$1.06T
| $456M | 6.51% |
1,114
| – | – |
|
|
2
Berkshire Hathaway Class B
BRK.B
$1.06T
| $418M | 5.98% |
1,531,971
| – | – |
|
3
Brookfield
BN
$93.1B
| $388M | 5.54% |
16,172,057
| – | – |
|
4
Alphabet (Google) Class C
GOOG
$4.18T
| $301M | 4.3% |
2,749,860
| – | – |
|
5
Home Depot
HD
$335B
| $252M | 3.61% |
920,000
| – | – |
|
6
Diageo
DEO
$52.6B
| $235M | 3.36% |
1,350,208
| – | – |
|
7
Deere & Co
DE
$175B
| $226M | 3.24% |
755,800
| – | – |
|
8
Amazon
AMZN
$2.79T
| $210M | 3.01% |
1,981,360
| – | – |
|
9
Visa
V
$693B
| $190M | 2.71% |
962,779
+1,674
| +0.2% | +$346K |
|
10
Walt Disney
DIS
$186B
| $186M | 2.65% |
1,966,665
+44,000
| +2% | +$4.88M |
|
11
Apple
AAPL
$4.51T
| $165M | 2.36% |
1,206,990
| – | – |
|
12
Analog Devices
ADI
$182B
| $158M | 2.26% |
1,083,071
+5,250
| +0.5% | +$827K |
|
13
RLI Corp
RLI
$6B
| $140M | 2% |
2,394,544
| – | – |
|
14
Blackrock
BLK
$179B
| $134M | 1.92% |
220,200
| – | – |
|
15
Microsoft
MSFT
$3.59T
| $123M | 1.76% |
479,980
| – | – |
|
|
NVO
16
Novo Nordisk
NVO
$207B
| $120M | 1.71% |
2,150,000
| – | – |
|
17
Archer Daniels Midland
ADM
$38.7B
| $114M | 1.62% |
1,463,300
| – | – |
|
18
Blackstone
BX
$108B
| $112M | 1.6% |
1,229,000
| – | – |
|
19
Texas Instruments
TXN
$241B
| $111M | 1.59% |
724,000
| – | – |
|
20
Johnson & Johnson
JNJ
$651B
| $108M | 1.55% |
610,800
| – | – |
|
|
21
Watsco Inc
WSO
$12.9B
| $106M | 1.52% |
443,750
+25,000
| +6% | +$6.58M |
|
22
Lowe's Companies
LOW
$121B
| $103M | 1.47% |
590,480
+1,500
| +0.3% | +$289K |
|
23
Goldman Sachs
GS
$303B
| $102M | 1.46% |
344,860
+1,000
| +0.3% | +$311K |
|
|
MRSH
24
Marsh
MRSH
$91.6B
| $97M | 1.39% |
624,600
+5,800
| +0.9% | +$929K |
|
25
Progressive
PGR
$127B
| $87.6M | 1.25% |
753,750
+3,000
| +0.4% | +$340K |
|
Similar funds
Tom Gayner's Q2 2022 Portfolio in Review
As of Q2 2022, Tom Gayner held 132 positions worth $6.99B, down 17% from $8.43B the previous quarter. Its ten largest holdings account for 41% of the portfolio.
Tom Gayner's Q2 2022 filing shows 6 new, 45 increased, 3 reduced and 1 closed positions. Its largest new stake was ESAB: 378,356 shares worth $16.6M. The largest sale was Enovis, an estimated $18.1M.
By sector, the portfolio is most concentrated in Financials at 42% of assets, down from 43% a quarter earlier, followed by Industrials and Consumer Discretionary.
- Tom Gayner's largest Q2 2022 buy was ESAB: 378,356 shares worth $16.6M.
- Tom Gayner added most to Watsco Inc in Q2 2022, an estimated $6.58M increase.
- Tom Gayner's biggest Q2 2022 reduction was Enovis, cutting an estimated $18.1M.
- Tom Gayner fully exited Alleghany Corp in Q2 2022, selling an estimated $3.67M.
- Tom Gayner's ten largest holdings make up 41% of its $6.99B portfolio in Q2 2022.
- Tom Gayner opened 6 new positions and closed 1 in Q2 2022.
- Tom Gayner's portfolio value fell 17% quarter-over-quarter to $6.99B.
Based on Markel Group's 13F filing for Q2 2022, filed 5 Aug 2022.