- Gayner’s portfolio increased from $6.62B to $7.20B during the quarter.
- Markel made only minor adjustments to the portfolio this quarter.
- Berkshire Hathaway at ~11% of the portfolio is by far the largest position.
Thomas Gayner’s Markel Investment Portfolio value increased
~8% from $6.62B to $7.20B 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), Walt Disney (DIS), and Marriott International (MAR).
Markel Corporation (MKL) is currently trading at around 1.1-times
Book Value (BV) at $894 per share - BV is ~$800 as of Q4 2019.
Below is a spreadsheet that highlights the changes to the
portfolio as of Q4 2019. Please check out our previous
update to have an idea on how the portfolio is progressing:
To learn more about how to profit from a strategy of cloning
hedge fund picks, check out our book Profiting from Hedge Funds: Winning Strategies for the Little
Guy.
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