- Gayner’s portfolio decreased from $7.20B to $5.32B 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 decreased ~25% from $7.20B to $5.32B 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, CarMax Corporation, Brookfield Asset Management, Liberty Broadband, and Amazon.com.
Markel Corporation (MKL) is currently trading at around 1.3-times Book Value (BV) at ~$905 per share - BV is ~$705 as of Q1 2020.
Below is a spreadsheet that highlights the changes to the
portfolio as of Q1 2020. 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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