Tom Gayner

Tom Gayner

Last Update: 11-04-2016

Number of Stocks: 129
Number of New Stocks: 4

Total Value: $3,879 Mil
Q/Q Turnover: 3%

Countries: USA
Details: Top Buys | Top Sales | Top Holdings  Embed:

Tom Gayner Watch

  • Tom Gayner Sells 5 Holdings, Reduces 1 Other

    Tom Gayner (Trades, Portfolio) is co-CEO of Markel Corp., and president and chief investment officer of Markel-Gayner Asset Management. During the third quarter, the guru reduced or exited the following holdings:


    Gayner exited his position in Copart Inc. (NASDAQ:CPRT) with an impact of -1.25% on the portfolio.

      


  • Humble Attempt to Trumpet a Misjudgment


    "It's a good habit to trumpet your failures and be quiet about your successes." – Charlie Munger (Trades, Portfolio)

      


  • Markel’s Tom Gayner Buys 4 Stocks During Quarter

    Tom Gayner (Trades, Portfolio), the well-known co-CEO of boutique insurer Markel Corp. (NYSE:MKL), bought four stocks in the third quarter, according to his portfolio released this week.


    Markel’s investment operations made the decision to lighten equity holdings in an environment dominated by lower returns worldwide, low interest rates and a negative investment return heading into 2015. Its investment operations, including equities and fixed income, declined 0.7% for the year. Returns have since increased by 5.8% for the first three quarters, versus a 1.2% decline for the same period last year, primarily due to an increase in fixed maturity securities, and they include $12.1 million in write-downs for permanent declines mostly in equity securities. Gayner’s top holdings at the end of September were CarMax (NYSE:KMX) – down almost 5 percent year to date – Berkshire Hathaway (NYSE:BRK.A)(NYSE:BRK.B) and Brookfield Asset Management (NYSE:BAM) – both up by double-digits.

      


  • Tom Gayner Acquires Google, Facebook, Amazon

    Tom Gayner (Trades, Portfolio) is the executive vice president and chief investment officer of Markel Corp. (NYSE:MKL) and president of Markel Gayner Asset Management Inc. During the third quarter the guru’s largest buys were the following:


    The guru raised his stake in Alphabet Inc. Class C (GOOG) by 46.23% with an impact of 0.31% on the portfolio.

      


  • 21 Questions for Bluegrass Capital's Founder

    Thank you for your interest in me. I am a longtime follower of your site and hope my responses prove useful to at least a few of your readers. I look forward to other interviews in this series.


    19. Describe some of the biggest mistakes you have made value investing. What are your three worst investments? What did you learn and how do you avoid those mistakes today?

      


  • Tom Gayner Boosts Facebook, Amazon, Apple

    Tom Gayner (Trades, Portfolio), executive vice president and chief investment officer of Markel Corp. and president of Markel Gayner Asset Management Inc., the investment subsidiary of Markel Corp., bought shares in the following stocks in the first and second quarters of 2016:


    Boeing Co. (BA)

      


  • Tom Gayner Buys Microsoft, Amazon

    Tom Gayner (Trades, Portfolio), executive vice president and chief investment officer of Markel Corp. (NYSE:MKL) and president of Markel Gayner Asset Management Inc., Markel's investment subsidiary since December 1990, bought shares in the following stocks in the second quarter.


    The investor acquired 522,000 shares in Liberty Media Corp. (LSXMK) with an impact of 0.42% on the portfolio.

      


  • Tom Gayner's Top 5 2nd Quarter Stock Buys

    Tom Gayner (Trades, Portfolio) serves as co-CEO of Markel Corp. (NYSE:MKL), an insurance, reinsurance and investment holding company. On Thursday, he released his second-quarter portfolio, which lists 13 new stocks.


    Markel’s investment segment focuses on long-term returns rather than quarterly variations, but it produced a taxable total investment return of 4.6% for the first half of 2016.

      


  • High Yield and Profitability: Sturm Ruger, Infosys

    Thanks to Gurufocus’ All-In-One Screener, I want to highlight stocks that have a growing dividend yield with sustainable payout ratio. This sustainability is confirmed to long-term company profitability and a very strong financial situation:


    Novo Nordisk A/S (NVO) has a dividend yield that during the last five years has grown by 38%. The yield is 1.74% with a payout ratio of 47%. The average ROA of the last five years has been positive, 35.93%, and so has the ROE with an average performance of 60.54%.

      


  • Alphabet (aka Google): A Case Study in Spotting Value Creation

    On June 22, 2015, Tom Gayner (Trades, Portfolio), co-chief executive officer of specialty insurance underwriter Markel Corporation (NYSE:MKL), gave a presentation titled "The Evolution of a Value Investor" during the lunch hour to the employees of Alphabet (NASDAQ:GOOG)(NASDAQ:GOOGL), parent company of Google, the world’s largest Internet company.


    Gayner began his presentation by summarizing his business background as a certified public accountant and security analyst before taking a position as an investment officer for Markel in 1990. Gayner's 58-minute presentation may be viewed on YouTube and is most insightful and well worth the time.

      


  • Stocks Tom Gayner Has Been Buying in the Last 2 Quarters

    Tom Gayner (Trades, Portfolio) is the executive vice president and chief investment officer of Markel Corp. (NYSE:MKL) and President, Markel Gayner Asset Management Inc., the investment subsidiary of Markel since December 1990. He manages a portfolio composed of 75 stocks, several of which have been bought for the last two quarters.


    Apple Inc. (AAPL)

      


  • Gayner Sells Stakes in Courier Companies in 1st Quarter

    Tom Gayner (Trades, Portfolio) sold out nine existing stakes in his portfolio in the first quarter. His two most noteworthy divestments involved courier companies.


    Gayner sold his 793,500-share stake in United Parcel Service Inc. (NYSE:UPS), a Sandy Springs, Georgia-based package delivery provider, for an average price of $97.06 per share in what was, by far, the guru’s most significant first-quarter transaction. The divestiture had a -2.07% impact on Gayner’s portfolio.

      


  • Tom Gayner Sells Out of Coach

    Guru Tom Gayner (Trades, Portfolio), CEO of Markel (NYSE:MKL), sold his 54,000-share stake in Coach Inc. (NYSE:COH) in the first quarter.


    Started in 1941 as a family run workshop in New York City, Coach was a pioneer in leather goods, establishing itself as the original American house of leather during the second half of the 20th century. Its products include women's and men's bags, women's and men's small leather goods, business cases, footwear, wearables including outerwear, watches, weekend and travel accessories, scarves, sunwear, fragrance, jewelry, travel bags and other lifestyle products. Coach operates in two segments, North America and International.

      


  • Undervalued Stocks Gurus Are Buying

    According to GuruFocus' All-in-One Screener, the following are companies with a market cap above $5 billion that are trading with a very low P/S ratio.


    Deere & Co. (DE) is trading at about $82 with a P/S ratio of 0.97 and an estimated P/E multiple of 15.08. The company has a market cap of $25.91 billion and over the last 10 years, the stock has risen by 85%. During the last 52 weeks, the price has been as high as $98.23 and as low as $70.16.

      


  • Bearish Sentiment in Becton Dickinson's Stock

    Becton Dickinson & Co. (NYSE:BDX) is a $33.87 billion market cap company that provides a broad range of medical devices and diagnostic products used in hospitals, doctors' offices, research labs and other settings.


    The med-company is trading at $159.55. Analysts have a consensus $163.53 price target on the stock. Yahoo! (NASDAQ:YHOO) Finance estimates a one-year target share price at $166.9. Also, investors will be paid a dividend of $2.64 at the end of the year. The dividend yield is 1.65%, which tries to protect the purchasing power. Dividend investors often pay attention to the track record of dividends payments and favorable expectations regarding dividend growth for the next year. This company has paid dividends since 1926; during the past 13 years, the highest yield was 2.44%, the lowest was 1.05%, and the median was 1.77%. Now it is close to a five-year low.

      


  • Looking at the Office Furnishings Industry

    In a previous article, I posted a lecture on value investing given by Tom Gayner (Trades, Portfolio), co-CEO of Markel Corporation (NYSE:MKL). Markel is often compared to Warren Buffett (Trades, Portfolio)’s Berkshire Hathaway (NYSE:BRK.A)(NYSE:BRK.B) because it is an insurance company that uses its float to invest in other businesses. A key insight was Gayner’s emphasis on differentiating between spotting value and focusing on creators of value.


    I saw an example of this concept when researching the office furniture industry. Below is the thought process that motivated me to study it.

      


  • CME Group Among Guru Stocks With Growing Yield

    The following are companies with high and growing dividend yields that gurus are buying according to GuruFocus' All-in-One Screener.


    CME Group Inc. (CME) has a trailing dividend yield of 2.15% with a three-year growth rate of 3.70% and a five-year growth rate of 16.80%. The stock is now trading with a trailing 12-month P/E multiple of 25.30 and an estimated forward P/E multiple of 19.38. During the last 12 months, the stock price has dropped by 4%.

      


  • Walt Disney, Union Pacific: Undervalued With Predictable Business

    According to GuruFocus’ All-in-One Screener, the following stocks have a high business predictability rating, and at least five gurus are shareholders in the companies.


    Walt Disney Co. (DIS)

      


  • Tom Gayner Sells Stakes in GE, Walmart, Anheuser-Busch

    The most eye-catching fourth-quarter activity from Tom Gayner (Trades, Portfolio), president of Markel Gayner Asset Management, involved the sales of stakes in his portfolio, but the guru made some intriguing purchases as well.


    Gayner’s most significant fourth-quarter transaction was the sale of his 2,963,000-share stake in General Electric Co. (NYSE:GE), a Fairfield, Connecticut-based conglomerate, for an average price of $29.73 per share. The deal had a -1.97% impact on Gayner’s portfolio.

      


  • Investors Can Follow Tom Gayner in Harley Davidson

    In the fourth quarter, guru Tom Gayner added to his stake in Harley Davidson Inc. (NYSE:HOG) at an average price of $49.13. The 36% add took the holding to a total of 292,000 shares and represents a 0.09% impact on the portfolio.


    Since that period, Harley Davidson has fallen to a price around $43. For patient investors willing to hold for the longer haul, does this represent an opportunity? Or is HOG on a long-term rocky road?

      


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