Tracking Thomas Gayner's Markel Portfolio – Q1 2019 Update


  • Gayner’s portfolio increased from $5.23B to $5.97B during the quarter. 
  • Markel increased Apple and Goldman Sachs during the quarter. 
  • Berkshire Hathaway at ~11% of the portfolio is by far the largest position. 

Thomas Gayner’s Markel Investment Portfolio value increased ~14% from $5.23B to $5.97B during the quarter. The portfolio continues to have around 100 different positions although only around 50 are significantly large (more than 0.5% of the portfolio each). The top-five stakes are Berkshire Hathaway (BRK.A) (BRK.B), CarMax Corporation (KMX), Brookfield Asset Management (BAM), Diageo plc (DEO), and Walt Disney (DIS).

Markel Corporation (MKL) is currently trading at around 1.5-times Book Value (BV) at $1071 per share - BV is around $705.

Below is a spreadsheet that highlights the changes to the portfolio as of Q1 2019. Please check out our previous update to have an idea on how the portfolio is progressing:




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