Portfolio holdings of legendary investors - DATAROMA

Portfolio holdings of Thomas Gayner. Markel Asset Management's Portfolio. Thomas Gayner stock picks:

Stock Holdings

Thomas Gayner - Markel Asset Management

Period: Q1 2013
Portfolio date: 31 Mar 2013
No. of stocks: 102
Portfolio value: $2,692,441,000

	Stock	% of portfolio	Shares	Recent activity	Reported Price*
hist	KMX - CarMax Inc.	7.93	5,120,971	Reduce 0.42%	$41.70
hist	BRK.A - Berkshire Hathaway CL A	6.39	1,101	Reduce 0.18%	$156279.75
hist	BRK.B - Berkshire Hathaway CL B	6.01	1,552,895	Reduce 0.51%	$104.20
hist	DEO - Diageo plc	5.75	1,230,874	Reduce 0.29%	$125.84
hist	BAM - Brookfield Asset Management Inc.	4.15	3,065,714	Reduce 0.49%	$36.49
hist	FFH - Fairfax Financial Holdings Ltd.	4.06	279,459		$391.14
hist	WAG - Walgreen Co.	3.81	2,151,460	Reduce 0.05%	$47.68
hist	DIS - Walt Disney Co.	3.24	1,535,135	Reduce 0.34%	$56.80
hist	WMT - Wal-Mart Stores	3.09	1,110,318	Add 0.38%	$74.83
hist	XOM - Exxon Mobil Corp.	2.75	821,898	Reduce 0.03%	$90.11
hist	HD - Home Depot	2.46	950,495	Reduce 0.65%	$69.78
hist	WPC - WP Carey	2.39	953,600	Reduce 0.21%	$67.40
hist	UPS - United Parcel Service	2.37	742,853	Reduce 0.47%	$85.90
hist	MAR - Marriott Int'l.	2.15	1,368,001	Reduce 0.77%	$42.23
hist	GE - General Electric	2.05	2,387,311	Reduce 0.56%	$23.12
hist	FII - Federated Investors Inc.	1.90	2,156,000	Reduce 0.05%	$23.67
hist	CFX - Colfax Corp.	1.88	1,085,070		$46.54
hist	JNJ - Johnson & Johnson	1.80	592,850	Add 0.06%	$81.53
hist	ADM - Archer-Daniels-Midland	1.69	1,350,300	Add 1.20%	$33.73
hist	RLI - RLI Corp.	1.63	612,658	Reduce 0.15%	$71.85
hist	BUD - Anheuser-Busch InBev	1.47	397,951	Reduce 0.61%	$99.55
hist	UBSH - Union First Market Bankshares Corp.	1.38	1,898,339	Reduce 27.67%	$19.56
hist	NVO - Novo Nordisk A S	1.36	226,400	Reduce 0.40%	$161.50
hist	ADP - Automatic Data Processing Inc.	1.27	523,900	Add 1.59%	$65.03
hist	BF.A - BROWN FORMAN Inc. A	1.16	425,640		$73.60
hist	GD - General Dynamics	1.05	401,555	Add 0.90%	$70.51
hist	TEVA - Teva Pharmaceutical Industries Ltd.	0.98	663,600	Add 3.03%	$39.68
hist	AXP - American Express	0.92	368,135	Reduce 1.01%	$67.46
hist	MSFT - Microsoft Corp.	0.85	802,590	Reduce 0.06%	$28.60
hist	UNH - United Health Group Inc.	0.83	392,300	Buy	$57.21
hist	LOW - Lowe's Cos.	0.81	575,000	Reduce 0.21%	$37.92
hist	MMM - 3M Co.	0.81	205,800	Add 1.50%	$106.31
hist	ORCL - Oracle Corp.	0.79	658,900	Add 1.76%	$32.33
hist	CAT - Caterpillar Inc.	0.79	245,200	Reduce 0.33%	$86.97
hist	LUK - Leucadia National Corp.	0.76	745,033		$27.43
hist	IGT - International Game Technology	0.73	1,195,461	Add 2.20%	$16.50
hist	V - Visa Inc.	0.70	111,100	Add 9.89%	$169.84
hist	TROW - T. Rowe Price Group	0.70	250,500		$74.87
hist	MCD - McDonald's Corp.	0.70	189,861	Add 0.13%	$99.69
hist	PCL - Plum Creek Timber Co.	0.68	350,300	Reduce 0.45%	$52.20
hist	SCHW - Charles Schwab	0.68	1,031,013	Add 1.83%	$17.69
hist	INTC - Intel Corp.	0.68	837,342	Reduce 0.12%	$21.83
hist	CRR - Carbo Ceramics	0.63	186,000	Add 7.51%	$91.07
hist	ITIC - Investors Title Co.	0.59	228,150	Reduce 0.22%	$69.07
hist	ITW - Illinois Tool Works	0.55	245,000	Reduce 0.20%	$60.94
hist	BRO - Brown & Brown Inc.	0.44	365,628		$32.04
hist	SLB - Schlumberger Ltd.	0.41	146,000		$74.89
hist	SYY - Sysco Corp.	0.41	314,278	Reduce 45.00%	$35.17
hist	EOG - EOG Resources	0.40	83,500	Reduce 0.48%	$128.07
hist	PM - Philip Morris Intl.	0.40	116,700		$92.71
hist	L - Loews Corp.	0.39	240,700		$44.07
hist	PEP - PepsiCo Inc.	0.37	127,300		$79.11
hist	COF - Capital One Financial	0.37	179,400		$54.95
hist	EMR - Emerson Electric	0.36	171,300		$55.87
hist	NOV - National Oilwell Varco Inc.	0.36	136,000	Add 10.57%	$70.75
hist	AHGP - Alliance Holdings GP	0.33	166,500		$52.67
hist	ACN - Accenture	0.33	117,600	Reduce 0.08%	$75.97
hist	MCO - Moody's Corp.	0.31	155,400	Add 62.89%	$53.32
hist	HAS - Hasbro Inc.	0.31	189,800	Add 25.28%	$43.94
hist	ART - Artio Global Investors Inc.	0.30	2,968,400	Reduce 47.87%	$2.72
hist	NTRS - Northern Trust Corp.	0.28	140,000		$54.56
hist	BF.B - Brown-Forman Corp.	0.28	106,372		$71.40
hist	NSC - Norfolk Southern Corp.	0.27	94,100	Add 30.51%	$77.08
hist	BK - Bank of New York	0.26	252,546	Add 10.02%	$27.99
hist	NKE - NIKE Inc.	0.26	120,400		$59.01
hist	MAT - Mattel Inc.	0.23	140,000	Add 38.61%	$43.77
hist	PDCO - Patterson Cos. Inc.	0.21	146,100		$38.04
hist	KO - Coca Cola Co.	0.20	134,000	Add 8.06%	$40.44
hist	PAYX - Paychex Inc.	0.20	150,900		$35.06
hist	UTX - United Technologies	0.19	53,600		$93.43
hist	EXPD - Expeditors Int'l	0.18	133,000		$35.73
hist	LMCA - Liberty Media Capital	0.17	42,000	Add 250.00%	$111.62
hist	IBM - International Bus. Machines	0.16	20,100		$213.28
hist	COST - Costco Co.	0.16	40,500		$106.12
hist	MA - Mastercard Inc.	0.16	8,000	Add 166.67%	$541.13
hist	GOOG - Google Inc.	0.15	5,000	Buy	$794.20
hist	HCCI - Heritage-Crystal Clean Inc.	0.15	259,500		$15.10
hist	MON - Monsanto Co.	0.14	35,700	Add 0.85%	$105.63
hist	ECL - Ecolab Inc.	0.14	48,400		$80.19
hist	SEIC - SEI Investments	0.14	130,000	Add 18.18%	$28.85
hist	BTU - Peabody Energy	0.14	180,000		$21.15
hist	WLP - WellPoint Inc.	0.12	50,000	Buy	$66.22
hist	PG - Procter & Gamble	0.10	34,100	Reduce 0.87%	$77.07
hist	FDS - FactSet Research Systems	0.10	29,000	Buy	$92.59
hist	NRP - Natural Resource Partners	0.09	101,400		$23.40
hist	WPO - Washington Post	0.09	5,300		$446.98
hist	STT - State Street Corp.	0.09	40,400		$59.08
hist	APD - Air Products & Chemicals	0.09	26,400	Reduce 3.30%	$87.12
hist	ANR - Alpha Natural Resources Inc.	0.07	242,500		$8.21
hist	Y - Alleghany Corp.	0.06	4,328		$396.03
hist	CLMT - Calumet Specialty Products	0.05	37,000		$37.24
hist	AMZN - Amazon Corp.	0.05	5,500	Buy	$266.55
hist	CVX - Chevron Corp.	0.04	10,100	Buy	$118.81
hist	CNX - CONSOL Energy Inc.	0.04	30,000		$33.63
hist	BG - Bunge Ltd.	0.02	9,000		$73.78
hist	WRE - Washington REIT	0.01	9,200		$27.83
hist	CLB - Core Laboratories NV	0.01	2,000	Buy	$138.00
hist	ACI - Arch Coal	0.01	56,000		$5.43
hist	EPD - Enterprise Products Partners LP	0.01	6,300		$60.32
hist	FNF - Fidelity National Financial Inc.	0.01	12,500	Reduce 10.71%	$25.20
hist	STRZA - Starz	0.01	12,000	Buy	$22.17
hist	QMM - Quaterra Resources	0.00	200,000		$0.20

* Reported Price is the price of the security on the portfolio date. This value is significant in that it indicates the portfolio manager's confidence in the stock at that price and suggests at least some level of undervaluation and/or margin of safety.

Sector % analysis

Financials	34.90
Consumer Discretionary	18.96
Consumer Staples	13.14
Industrials	8.62
Consumer Goods	5.77
Health Care	5.30
Energy	4.78
Information Technology	4.20
Industrial Goods	2.03
Services	1.37
Materials	0.93

Articles & Commentaries

19 Dec 2012 Markel Bags a Whale
With echoes of Berkshire Hathaway's (NYSE: BRK-A)(NYSE: BRK-B) 2009 Burlington Northern deal, Markel (NYSE: MKL) this morning announced its largest acquisition to date with a $3 billion cash and stock agreement to buy rival Alterra Capital Holdings (NASDAQ: ALTE).

07 May 2012 Meet the Money Manager Who Is Beating Berkshire Hathaway and Owns It Too
Much has been made of "the lost decade" for stocks, a 10-year span in which investors in the S&P 500 index saw no gains. And yet, noted value investor Thomas Gayner, president and CIO of Markel (MKL), saw his portfolio gain more than 100%.