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 |
Cracker Barrel
CBRL
|
+$5.93M |
| 2 |
Watsco Inc
WSO
|
+$5.01M |
| 3 |
Dollar General
DG
|
+$4.32M |
| 4 |
Goldman Sachs
GS
|
+$4.05M |
| 5 |
Comcast
CMCSA
|
+$3.81M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Trupanion
TRUP
|
+$7.52M |
| 2 |
MACOM Technology Solutions
MTSI
|
+$3.18M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 41.37% |
| 2 | Industrials | 12.77% |
| 3 | Consumer Discretionary | 12% |
| 4 | Technology | 9.81% |
| 5 | Communication Services | 9.35% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Berkshire Hathaway Class A
BRK.A
$1.06T
| $453M | 6.68% |
1,114
| – | – |
|
|
2
Berkshire Hathaway Class B
BRK.B
$1.06T
| $409M | 6.04% |
1,531,971
| – | – |
|
3
Brookfield
BN
$93.1B
| $356M | 5.26% |
16,172,057
| – | – |
|
4
Alphabet (Google) Class C
GOOG
$4.18T
| $264M | 3.9% |
2,749,860
| – | – |
|
5
Home Depot
HD
$335B
| $254M | 3.75% |
920,000
| – | – |
|
6
Deere & Co
DE
$175B
| $252M | 3.72% |
755,800
| – | – |
|
7
Diageo
DEO
$52.6B
| $229M | 3.38% |
1,350,208
| – | – |
|
8
Amazon
AMZN
$2.79T
| $224M | 3.31% |
1,983,360
+2,000
| +0.1% | +$253K |
|
9
Walt Disney
DIS
$186B
| $188M | 2.77% |
1,991,665
+25,000
| +1% | +$2.68M |
|
10
Visa
V
$693B
| $171M | 2.52% |
962,779
| – | – |
|
11
Apple
AAPL
$4.51T
| $167M | 2.46% |
1,206,990
| – | – |
|
12
Analog Devices
ADI
$182B
| $152M | 2.24% |
1,090,071
+7,000
| +0.6% | +$1.11M |
|
13
RLI Corp
RLI
$6B
| $123M | 1.81% |
2,394,544
| – | – |
|
14
Blackrock
BLK
$179B
| $121M | 1.79% |
220,200
| – | – |
|
|
15
Watsco Inc
WSO
$12.9B
| $119M | 1.76% |
462,250
+18,500
| +4% | +$5.01M |
|
16
Archer Daniels Midland
ADM
$38.7B
| $118M | 1.74% |
1,463,300
| – | – |
|
17
Lowe's Companies
LOW
$121B
| $112M | 1.65% |
596,980
+6,500
| +1% | +$1.27M |
|
18
Texas Instruments
TXN
$241B
| $112M | 1.65% |
724,000
| – | – |
|
19
Microsoft
MSFT
$3.59T
| $112M | 1.65% |
479,980
| – | – |
|
|
NVO
20
Novo Nordisk
NVO
$207B
| $107M | 1.58% |
2,150,000
| – | – |
|
|
21
Goldman Sachs
GS
$303B
| $105M | 1.55% |
357,360
+12,500
| +4% | +$4.05M |
|
22
Blackstone
BX
$108B
| $103M | 1.52% |
1,229,000
| – | – |
|
23
Johnson & Johnson
JNJ
$651B
| $99.8M | 1.47% |
610,800
| – | – |
|
|
MRSH
24
Marsh
MRSH
$91.6B
| $93.8M | 1.38% |
628,500
+3,900
| +0.6% | +$626K |
|
25
Progressive
PGR
$127B
| $87.6M | 1.29% |
753,750
| – | – |
|
Similar funds
Tom Gayner's Q3 2022 Portfolio in Review
As of Q3 2022, Tom Gayner held 132 positions worth $6.77B, down 3.1% from $6.99B the previous quarter. Its ten largest holdings account for 41% of the portfolio.
Trading was light in Q3 2022: portfolio turnover was 1.5%. Tom Gayner opened 1 new position and exited 1, leaving the 132-position portfolio largely intact.
By sector, the portfolio is most concentrated in Financials at 41% of assets, down from 42% a quarter earlier, followed by Industrials and Consumer Discretionary.
- Tom Gayner's largest Q3 2022 buy was RenaissanceRe: 2,000 shares worth $281K.
- Tom Gayner added most to Cracker Barrel in Q3 2022, an estimated $5.93M increase.
- Tom Gayner's biggest Q3 2022 reduction was Trupanion, cutting an estimated $7.52M.
- Tom Gayner fully exited MACOM Technology Solutions in Q3 2022, selling an estimated $3.18M.
- Tom Gayner's ten largest holdings make up 41% of its $6.77B portfolio in Q3 2022.
- Tom Gayner opened 1 new position and closed 1 in Q3 2022.
- Tom Gayner's portfolio value fell 3.1% quarter-over-quarter to $6.77B.
Based on Markel Group's 13F filing for Q3 2022, filed 4 Nov 2022.