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 |
Franco-Nevada
FNV
|
+$12.4M |
| 2 |
Yum! Brands
YUM
|
+$9.31M |
| 3 |
Deere & Co
DE
|
+$8.95M |
| 4 |
LPL Financial
LPLA
|
+$8.7M |
| 5 |
HCA Healthcare
HCA
|
+$5.79M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
RTX Corp
RTX
|
+$22.5M |
| 2 |
Whirlpool
WHR
|
+$12.5M |
| 3 |
Equifax
EFX
|
+$7.05M |
| 4 |
EA
Electronic Arts
EA
|
+$6.94M |
| 5 |
Cracker Barrel
CBRL
|
+$4.68M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 44.29% |
| 2 | Industrials | 13.65% |
| 3 | Consumer Discretionary | 12.11% |
| 4 | Technology | 9.42% |
| 5 | Communication Services | 8.82% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Berkshire Hathaway Class A
BRK.A
$1.06T
| $770M | 6.93% |
1,114
| – | – |
|
|
2
Berkshire Hathaway Class B
BRK.B
$1.06T
| $705M | 6.35% |
1,531,971
| – | – |
|
3
Brookfield
BN
$93.1B
| $463M | 4.17% |
13,073,612
| – | – |
|
4
Alphabet (Google) Class C
GOOG
$4.18T
| $460M | 4.14% |
2,749,860
| – | – |
|
5
Amazon
AMZN
$2.79T
| $378M | 3.41% |
2,030,760
| – | – |
|
6
Home Depot
HD
$335B
| $373M | 3.36% |
920,000
| – | – |
|
|
7
Deere & Co
DE
$175B
| $363M | 3.26% |
869,100
+23,750
| +3% | +$8.95M |
|
8
Watsco Inc
WSO
$12.9B
| $287M | 2.58% |
582,500
+11,250
| +2% | +$5.41M |
|
9
Apple
AAPL
$4.51T
| $286M | 2.57% |
1,227,290
| – | – |
|
10
Visa
V
$693B
| $275M | 2.47% |
999,285
| – | – |
|
11
Analog Devices
ADI
$182B
| $269M | 2.42% |
1,167,671
| – | – |
|
|
NVO
12
Novo Nordisk
NVO
$207B
| $256M | 2.3% |
2,150,000
| – | – |
|
13
Microsoft
MSFT
$3.59T
| $222M | 1.99% |
514,980
+7,500
| +1% | +$3.21M |
|
14
Blackrock
BLK
$179B
| $209M | 1.88% |
220,200
| – | – |
|
15
Walt Disney
DIS
$186B
| $195M | 1.76% |
2,031,665
| – | – |
|
16
Diageo
DEO
$52.6B
| $192M | 1.73% |
1,366,708
| – | – |
|
17
Progressive
PGR
$127B
| $191M | 1.72% |
753,750
| – | – |
|
18
KKR & Co
KKR
$97.4B
| $190M | 1.71% |
1,451,800
| – | – |
|
19
Blackstone
BX
$108B
| $188M | 1.69% |
1,229,000
| – | – |
|
20
Lowe's Companies
LOW
$121B
| $187M | 1.68% |
690,480
+14,500
| +2% | +$3.51M |
|
21
RLI Corp
RLI
$6B
| $186M | 1.67% |
2,394,544
| – | – |
|
22
Goldman Sachs
GS
$303B
| $178M | 1.6% |
359,360
| – | – |
|
|
MRSH
23
Marsh
MRSH
$91.6B
| $161M | 1.45% |
722,500
+16,000
| +2% | +$3.55M |
|
24
Meta Platforms (Facebook)
META
$1.4T
| $158M | 1.42% |
275,231
+4,250
| +2% | +$2.19M |
|
25
Texas Instruments
TXN
$241B
| $150M | 1.35% |
724,000
| – | – |
|
Similar funds
Tom Gayner's Q3 2024 Portfolio in Review
As of Q3 2024, Tom Gayner held 139 positions worth $11.1B, up 9.3% from $10.2B the previous quarter. Its ten largest holdings account for 39% of the portfolio.
Tom Gayner's Q3 2024 filing shows 5 new, 37 increased, 4 reduced and 7 closed positions. Its largest new stake was Airbnb: 19,150 shares worth $2.43M. The largest sale was RTX Corp, an estimated $22.5M.
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 Q3 2024 buy was Airbnb: 19,150 shares worth $2.43M.
- Tom Gayner added most to Franco-Nevada in Q3 2024, an estimated $12.4M increase.
- Tom Gayner's biggest Q3 2024 reduction was Whirlpool, cutting an estimated $12.5M.
- Tom Gayner fully exited RTX Corp in Q3 2024, selling an estimated $22.5M.
- Tom Gayner's ten largest holdings make up 39% of its $11.1B portfolio in Q3 2024.
- Tom Gayner opened 5 new positions and closed 7 in Q3 2024.
- Tom Gayner's portfolio value rose 9.3% quarter-over-quarter to $11.1B.
Based on Markel Group's 13F filing for Q3 2024, filed 1 Nov 2024.