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 |
Deere & Co
DE
|
+$9.97M |
| 2 |
LPL Financial
LPLA
|
+$7.04M |
| 3 |
Tyson Foods
TSN
|
+$4.38M |
| 4 |
United Rentals
URI
|
+$4.17M |
| 5 |
Watsco Inc
WSO
|
+$3.82M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
SRCL
Stericycle Inc
SRCL
|
+$31.7M |
| 2 |
International Flavors & Fragrances
IFF
|
+$1.86M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 43.54% |
| 2 | Industrials | 13.59% |
| 3 | Consumer Discretionary | 12.16% |
| 4 | Communication Services | 9.52% |
| 5 | Technology | 8.8% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Berkshire Hathaway Class A
BRK.A
$1.06T
| $707M | 6.97% |
1,114
| – | – |
|
|
2
Berkshire Hathaway Class B
BRK.B
$1.06T
| $644M | 6.35% |
1,531,971
| – | – |
|
3
Alphabet (Google) Class C
GOOG
$4.18T
| $419M | 4.13% |
2,749,860
| – | – |
|
4
Amazon
AMZN
$2.79T
| $366M | 3.61% |
2,030,760
| – | – |
|
5
Brookfield
BN
$93.1B
| $365M | 3.6% |
13,073,612
| – | – |
|
6
Home Depot
HD
$335B
| $353M | 3.48% |
920,000
| – | – |
|
|
7
Deere & Co
DE
$175B
| $338M | 3.34% |
823,800
+26,000
| +3% | +$9.97M |
|
8
Visa
V
$693B
| $279M | 2.75% |
999,285
| – | – |
|
|
NVO
9
Novo Nordisk
NVO
$207B
| $276M | 2.72% |
2,150,000
| – | – |
|
10
Walt Disney
DIS
$186B
| $249M | 2.45% |
2,031,665
| – | – |
|
|
11
Watsco Inc
WSO
$12.9B
| $245M | 2.41% |
566,250
+9,500
| +2% | +$3.82M |
|
12
Analog Devices
ADI
$182B
| $231M | 2.28% |
1,167,471
+3,500
| +0.3% | +$673K |
|
13
Microsoft
MSFT
$3.59T
| $212M | 2.09% |
502,830
+4,350
| +0.9% | +$1.76M |
|
14
Apple
AAPL
$4.51T
| $210M | 2.08% |
1,227,190
+1,300
| +0.1% | +$236K |
|
15
Diageo
DEO
$52.6B
| $202M | 2% |
1,360,408
+5,700
| +0.4% | +$834K |
|
16
Blackrock
BLK
$179B
| $184M | 1.81% |
220,200
| – | – |
|
17
RLI Corp
RLI
$6B
| $178M | 1.75% |
2,394,544
| – | – |
|
18
Lowe's Companies
LOW
$121B
| $169M | 1.67% |
663,480
+6,500
| +1% | +$1.49M |
|
19
Blackstone
BX
$108B
| $161M | 1.59% |
1,229,000
| – | – |
|
20
Progressive
PGR
$127B
| $156M | 1.54% |
753,750
| – | – |
|
21
Goldman Sachs
GS
$303B
| $150M | 1.48% |
359,360
| – | – |
|
22
KKR & Co
KKR
$97.4B
| $146M | 1.44% |
1,451,800
| – | – |
|
|
MRSH
23
Marsh
MRSH
$91.6B
| $143M | 1.41% |
694,000
+9,500
| +1% | +$1.89M |
|
24
Meta Platforms (Facebook)
META
$1.4T
| $130M | 1.28% |
267,681
+3,000
| +1% | +$1.34M |
|
25
Texas Instruments
TXN
$241B
| $126M | 1.24% |
724,000
| – | – |
|
Similar funds
Tom Gayner's Q1 2024 Portfolio in Review
As of Q1 2024, Tom Gayner held 133 positions worth $10.1B, up 10% from $9.2B the previous quarter. Its ten largest holdings account for 39% of the portfolio.
Trading was light in Q1 2024: portfolio turnover was 4.5%. Tom Gayner opened 5 new positions and exited 1, leaving the 133-position portfolio largely intact.
By sector, the portfolio is most concentrated in Financials at 44% of assets, up from 43% a quarter earlier, followed by Industrials and Consumer Discretionary.
- Tom Gayner's largest Q1 2024 buy was Air Products & Chemicals: 15,000 shares worth $3.63M.
- Tom Gayner added most to Deere & Co in Q1 2024, an estimated $9.97M increase.
- Tom Gayner's biggest Q1 2024 reduction was Stericycle Inc, cutting an estimated $31.7M.
- Tom Gayner fully exited International Flavors & Fragrances in Q1 2024, selling an estimated $1.86M.
- Tom Gayner's ten largest holdings make up 39% of its $10.1B portfolio in Q1 2024.
- Tom Gayner opened 5 new positions and closed 1 in Q1 2024.
- Tom Gayner's portfolio value rose 10% quarter-over-quarter to $10.1B.
Based on Markel Group's 13F filing for Q1 2024, filed 3 May 2024.