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 portfolioSharesRecent activityReported 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%.