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 |
LPL Financial
LPLA
|
+$40.5M |
| 2 |
Dollar General
DG
|
+$12.1M |
| 3 |
Cable One
CABO
|
+$7.25M |
| 4 |
Tyson Foods
TSN
|
+$6.79M |
| 5 |
Old Dominion Freight Line
ODFL
|
+$4.86M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
LSXMK
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
|
+$17.1M |
| 2 |
LSXMA
Liberty Media Corporation Series A Liberty SiriusXM Common Stock
LSXMA
|
+$14M |
| 3 |
Healthcare Services Group
HCSG
|
+$4.6M |
| 4 |
Sony
SONY
|
+$4.19M |
| 5 |
LBRDK
Liberty Broadband Class C
LBRDK
|
+$1.99M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 42.47% |
| 2 | Industrials | 13.79% |
| 3 | Consumer Discretionary | 11.49% |
| 4 | Technology | 10.16% |
| 5 | Communication Services | 9.68% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Berkshire Hathaway Class A
BRK.A
$1.06T
| $592M | 7.15% |
1,114
| – | – |
|
|
2
Berkshire Hathaway Class B
BRK.B
$1.06T
| $537M | 6.48% |
1,531,971
| – | – |
|
3
Alphabet (Google) Class C
GOOG
$4.18T
| $363M | 4.38% |
2,749,860
| – | – |
|
4
Deere & Co
DE
$175B
| $286M | 3.46% |
758,800
+3,000
| +0.4% | +$1.24M |
|
5
Home Depot
HD
$335B
| $278M | 3.36% |
920,000
| – | – |
|
6
Brookfield
BN
$93.1B
| $273M | 3.29% |
13,073,612
| – | – |
|
7
Amazon
AMZN
$2.79T
| $257M | 3.11% |
2,024,960
+6,100
| +0.3% | +$817K |
|
8
Visa
V
$693B
| $230M | 2.77% |
999,285
+10,015
| +1% | +$2.41M |
|
9
Apple
AAPL
$4.51T
| $209M | 2.53% |
1,221,890
+5,900
| +0.5% | +$1.08M |
|
10
Watsco Inc
WSO
$12.9B
| $206M | 2.49% |
545,750
+6,500
| +1% | +$2.35M |
|
11
Diageo
DEO
$52.6B
| $201M | 2.43% |
1,350,208
| – | – |
|
12
Analog Devices
ADI
$182B
| $198M | 2.39% |
1,128,671
+6,100
| +0.5% | +$1.12M |
|
|
NVO
13
Novo Nordisk
NVO
$207B
| $196M | 2.36% |
2,150,000
| – | – |
|
14
Walt Disney
DIS
$186B
| $165M | 1.99% |
2,029,665
+9,000
| +0.4% | +$769K |
|
15
RLI Corp
RLI
$6B
| $163M | 1.96% |
2,394,544
| – | – |
|
16
Microsoft
MSFT
$3.59T
| $156M | 1.88% |
492,480
+6,500
| +1% | +$2.15M |
|
17
Blackrock
BLK
$179B
| $142M | 1.72% |
220,200
| – | – |
|
18
Lowe's Companies
LOW
$121B
| $134M | 1.62% |
645,480
+13,000
| +2% | +$2.92M |
|
19
Blackstone
BX
$108B
| $132M | 1.59% |
1,229,000
| – | – |
|
|
MRSH
20
Marsh
MRSH
$91.6B
| $128M | 1.54% |
672,500
+13,000
| +2% | +$2.49M |
|
21
Goldman Sachs
GS
$303B
| $116M | 1.4% |
359,360
| – | – |
|
22
Texas Instruments
TXN
$241B
| $115M | 1.39% |
724,000
| – | – |
|
23
Archer Daniels Midland
ADM
$38.7B
| $110M | 1.33% |
1,463,300
| – | – |
|
24
Progressive
PGR
$127B
| $105M | 1.27% |
753,750
| – | – |
|
25
Johnson & Johnson
JNJ
$651B
| $95.1M | 1.15% |
610,800
| – | – |
|
Similar funds
Tom Gayner's Q3 2023 Portfolio in Review
As of Q3 2023, Tom Gayner held 137 positions worth $8.28B, down 1.4% from $8.4B the previous quarter. Its ten largest holdings account for 39% of the portfolio.
Tom Gayner's Q3 2023 filing shows 6 new, 44 increased, 4 reduced and 4 closed positions. Its largest new stake was Liberty Live Group Series A: 98,000 shares worth $3.13M. The largest sale was Liberty Media Corporation Series C Liberty SiriusXM Common Stock, an estimated $17.1M.
By sector, the portfolio is most concentrated in Financials at 42% of assets, up from 41% a quarter earlier, followed by Industrials and Consumer Discretionary.
- Tom Gayner's largest Q3 2023 buy was Liberty Live Group Series A: 98,000 shares worth $3.13M.
- Tom Gayner added most to LPL Financial in Q3 2023, an estimated $40.5M increase.
- Tom Gayner's biggest Q3 2023 reduction was Sony, cutting an estimated $4.19M.
- Tom Gayner fully exited Liberty Media Corporation Series C Liberty SiriusXM Common Stock in Q3 2023, selling an estimated $17.1M.
- Tom Gayner's ten largest holdings make up 39% of its $8.28B portfolio in Q3 2023.
- Tom Gayner opened 6 new positions and closed 4 in Q3 2023.
- Tom Gayner's portfolio value fell 1.4% quarter-over-quarter to $8.28B.
Based on Markel Group's 13F filing for Q3 2023, filed 3 Nov 2023.