Tom Gayner (Trades, Portfolio) recently submitted the 13F filing for the fourth quarter of 2024, providing insights into his investment moves during this period. Thomas Gayner is Co-Chief Executive Officer of Markel Corporation. He oversees the investing activities for the company, as well as the Markel Ventures diverse industrial and service businesses. Gayner joined Markel in 1990 to form Markel Gayner Asset Management which provided equity investment counsel for Markel Corporation as well as outside clients.Prior to joining Markel, Mr. Gayner served as vice president of Davenport & Co of Virginia and as a Certified Public Accountant with PriceWaterhouseCoopers LLP.Gayner serves as the Chairman of the Board of the Davis Series Mutual Funds and on the boards of the Colfax Corporation, Graham Holdings, Cable One and Markel. He is a trustee of The Community Foundation of Richmond, Bon Secours Health System, and a member of the Investment Advisory Committee of the Virginia Retirement System. He is a graduate of the University of Virginia and The Lawrenceville School. Gayner outlined in Markel's 2019 Letter to Shareholders a four-part discipline: First, Markel looks for businesses earning good rates of return that use only modest leverage to do so. Second, the firm looks for management teams with equal measure of talent and integrity. Third, Markel looks for businesses with opportunities to reinvest its capital and grow organically or by acquisition, and/or with capital discipline to repurchase shares or pay dividends. And fourth, the firm looks to acquire these holdings at fair prices: The long term returns should be similar to the underlying growth in intrinsic value of the company itself.
Tom Gayner (Trades, Portfolio) added a total of 4 stocks, among them:
Tom Gayner (Trades, Portfolio) also increased stakes in a total of 43 stocks, among them:
Tom Gayner (Trades, Portfolio) completely exited 4 of the holdings in the fourth quarter of 2024, as detailed below:
Tom Gayner (Trades, Portfolio) also reduced positions in 2 stocks. The most significant changes include:
At the fourth quarter of 2024, Tom Gayner (Trades, Portfolio)'s portfolio included 132 stocks, with top holdings including 6.69% in Berkshire Hathaway Inc (NYSE:BRK.A), 6.12% in Berkshire Hathaway Inc (NYSE:BRK.B), 4.62% in Alphabet Inc (NASDAQ:GOOG), 4.41% in Brookfield Corp (NYSE:BN), and 3.93% in Amazon.com Inc (NASDAQ:AMZN).
The holdings are mainly concentrated in 9 of all the 11 industries: Financial Services, Industrials, Consumer Cyclical, Communication Services, Technology, Consumer Defensive, Healthcare, Basic Materials, and Real Estate.
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