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 |
RTX Corp
RTX
|
+$27.1M |
| 2 |
Franco-Nevada
FNV
|
+$17M |
| 3 |
Airbnb
ABNB
|
+$13M |
| 4 |
Dollar General
DG
|
+$7.37M |
| 5 |
Yum! Brands
YUM
|
+$6.63M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Whirlpool
WHR
|
+$16.9M |
| 2 |
American Tower
AMT
|
+$12.1M |
| 3 |
Comcast
CMCSA
|
+$4.95M |
| 4 |
Cable One
CABO
|
+$3.42M |
| 5 |
DNB
Dun & Bradstreet
DNB
|
+$1.32M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 46.21% |
| 2 | Industrials | 13.28% |
| 3 | Consumer Discretionary | 11.96% |
| 4 | Communication Services | 9.56% |
| 5 | Technology | 9.14% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Berkshire Hathaway Class A
BRK.A
$1.06T
| $759M | 6.69% |
1,114
| – | – |
|
|
2
Berkshire Hathaway Class B
BRK.B
$1.06T
| $694M | 6.12% |
1,531,971
| – | – |
|
3
Alphabet (Google) Class C
GOOG
$4.18T
| $524M | 4.62% |
2,749,860
| – | – |
|
4
Brookfield
BN
$93.1B
| $501M | 4.41% |
13,073,612
| – | – |
|
5
Amazon
AMZN
$2.79T
| $446M | 3.93% |
2,030,760
| – | – |
|
6
Deere & Co
DE
$175B
| $371M | 3.27% |
874,950
+5,850
| +0.7% | +$2.46M |
|
7
Home Depot
HD
$335B
| $358M | 3.15% |
920,000
| – | – |
|
8
Visa
V
$693B
| $316M | 2.78% |
999,285
| – | – |
|
9
Apple
AAPL
$4.51T
| $307M | 2.71% |
1,227,290
| – | – |
|
10
Watsco Inc
WSO
$12.9B
| $280M | 2.47% |
590,500
+8,000
| +1% | +$4.05M |
|
11
Analog Devices
ADI
$182B
| $248M | 2.19% |
1,167,671
| – | – |
|
12
Walt Disney
DIS
$186B
| $226M | 1.99% |
2,031,665
| – | – |
|
13
Blackrock
BLK
$179B
| $226M | 1.99% |
220,200
| – | – |
|
14
Microsoft
MSFT
$3.59T
| $219M | 1.93% |
519,480
+4,500
| +0.9% | +$1.92M |
|
15
KKR & Co
KKR
$97.4B
| $215M | 1.89% |
1,451,800
| – | – |
|
16
Blackstone
BX
$108B
| $212M | 1.87% |
1,229,000
| – | – |
|
17
Goldman Sachs
GS
$303B
| $206M | 1.81% |
359,360
| – | – |
|
18
RLI Corp
RLI
$6B
| $197M | 1.74% |
2,394,544
| – | – |
|
|
NVO
19
Novo Nordisk
NVO
$207B
| $185M | 1.63% |
2,150,000
| – | – |
|
20
Progressive
PGR
$127B
| $181M | 1.59% |
753,750
| – | – |
|
21
LPL Financial
LPLA
$28.5B
| $174M | 1.53% |
532,404
+12,000
| +2% | +$3.55M |
|
22
Diageo
DEO
$52.6B
| $174M | 1.53% |
1,366,708
| – | – |
|
23
Lowe's Companies
LOW
$121B
| $173M | 1.53% |
701,480
+11,000
| +2% | +$2.94M |
|
24
Apollo Global Management
APO
$78.4B
| $167M | 1.47% |
1,012,500
| – | – |
|
25
Meta Platforms (Facebook)
META
$1.4T
| $163M | 1.44% |
278,381
+3,150
| +1% | +$1.85M |
|
Similar funds
Tom Gayner's Q4 2024 Portfolio in Review
As of Q4 2024, Tom Gayner held 137 positions worth $11.3B, up 2.1% from $11.1B the previous quarter. Its ten largest holdings account for 40% of the portfolio.
Tom Gayner's Q4 2024 filing shows 5 new, 43 increased, 2 reduced and 5 closed positions. Its largest new stake was RTX Corp: 224,000 shares worth $25.9M. The largest sale was Whirlpool, an estimated $16.9M.
By sector, the portfolio is most concentrated in Financials at 46% of assets, up from 44% a quarter earlier, followed by Industrials and Consumer Discretionary.
- Tom Gayner's largest Q4 2024 buy was RTX Corp: 224,000 shares worth $25.9M.
- Tom Gayner added most to Franco-Nevada in Q4 2024, an estimated $17M increase.
- Tom Gayner's biggest Q4 2024 reduction was Comcast, cutting an estimated $4.95M.
- Tom Gayner fully exited Whirlpool in Q4 2024, selling an estimated $16.9M.
- Tom Gayner's ten largest holdings make up 40% of its $11.3B portfolio in Q4 2024.
- Tom Gayner opened 5 new positions and closed 5 in Q4 2024.
- Tom Gayner's portfolio value rose 2.1% quarter-over-quarter to $11.3B.
Based on Markel Group's 13F filing for Q4 2024, filed 7 Feb 2025.