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Markel’s Gayner Buys INTC, ORCL, BUD, FII, TEVA, V, XOM, MSFT

gurufocus

gurufocus

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Markel Corp’s CIO Tom Gayner rarely sells stocks. He doesn’t need to as his company continues to generate good float and cash flows to cover the insurance needs. Like many other value investors, he likes tech now. He added to his positions in large tech companies such as Intel, Oracle etc. to understand more about how Tom Gayner invests, please read:

Markel CIO Tom Gayner's Address to Value Investing Conference May 2011

Tom Gayner's Q&A at May 2011 Value Investor Conference

GuruFocus Reader Q&A with Guru Investor Tom Gayner

During the third quarter Mr. Gayner buys Intel Corp., Oracle Corp., Anheuserbusch Inbev Sa/nv, Federated Investors Inc., Teva Pharmaceutical Industries Ltd., Lennox International Inc., Visa, Exxon Mobil Corp., Microsoft Corp., Berkshire Hathaway Inc. Cl A, Lowes Cos., Watsco Inc., Walt Disney, Western Union, Ecolab Inc., United Technologies Corp., Mastercard Cl A, Nicholas Financial Inc., Expeditors International Of Washington Inc., Lennar Corp. Cl A, Eagle Materials Inc., Capital One Financial Corp., Encana Corp., Brookfield Residential Properties Inc., Louisianapacific Corp., sells White Mountains Insurance Group Ltd., Washington Real Estate Investment Trust during the 3-months ended 09/30/2011, according to the most recent filings of his investment company, Markel Gayner Asset Management Corp.

As of 09/30/2011, Markel Gayner Asset Management Corp owns 92 stocks with a total value of $1.6 billion. These are the details of the buys and sells that have the impact to portfolio of more than .1%.

This is the portfolio chart of Tom Gayner. You can click on the legend of the chart to show/hide buys, sells, or holdings. Each ball on the chart represents a position in the portfolio. You can move your mouse on the balls to see the details of each position and click to see the details of all guru trades with this position.



For the details of Tom Gayner's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=Tom+Gayner

This is the sector weightings of his portfolio:

Financials 39.7%
Consumer Services 22.7%
Industrials 12.2%
Consumer Goods 10.8%
Oil & Gas 6.1%
Health Care 5.1%
Technology 2.5%
Utilities 0.8%
Basic Materials 0.2%


These are the top 5 holdings of Tom Gayner

  1. CarMax Inc. (KMX) - 5,199,169 shares, 7.6% of the total portfolio. Shares reduced by 0.1%
  2. Berkshire Hathaway B (BRK.B) - 1,576,897 shares, 6.9% of the total portfolio. Shares reduced by 0.12%
  3. Fairfax Fin Ltd (FRFHF) - 279,459 shares, 6.6% of the total portfolio.
  4. Berkshire Hathaway Inc. Cl A (BRK.A) - 958 shares, 6.3% of the total portfolio. Shares added by 1.81%
  5. Diageo PLC ADS (DEO) - 1,248,181 shares, 5.8% of the total portfolio. Shares reduced by 0.26%


New Purchase: Lennox International Inc. (LII)

Tom Gayner initiated holdings in Lennox International Inc.. His purchase prices were between $25.29 and $43.78, with an estimated average price of $33.86. The impact to his portfolio due to this purchase was 0.17%. His holdings were 110,500 shares as of 09/30/2011. Lennox International Inc. is a global provider of climate control solutions. Lennox International Inc. has a market cap of $1.76 billion; its shares were traded at around $33.09 with a P/E ratio of 15.91 and P/S ratio of 0.57. The dividend yield of Lennox International Inc. stocks is 2.18%. Lennox International Inc. had an annual average earnings growth of 7.3% over the past 10 years.

Sold Out: White Mountains Insurance Group Ltd. (WTM)

Tom Gayner sold out his holdings in White Mountains Insurance Group Ltd.. His sale prices were between $377 and $431.32, with an estimated average price of $407.49. White Mountains Insurance Group, Ltd. is engaged in the business of property and casualty insurance and reinsurance. White Mountains Insurance Group Ltd. has a market cap of $3.41 billion; its shares were traded at around $428.98 with a P/E ratio of 40.09 and P/S ratio of 0.96. The dividend yield of White Mountains Insurance Group Ltd. stocks is 0.23%.

Added: Intel Corp. (INTC)

Tom Gayner added to his holdings in Intel Corp. by 46.14%. His purchase prices were between $19.19 and $23.23, with an estimated average price of $21.45. The impact to his portfolio due to this purchase was 0.28%. His holdings were 682,592 shares as of 09/30/2011. Intel Corporation is one of the world's largest semiconductor chip maker. Intel Corp. has a market cap of $130.49 billion; its shares were traded at around $24.85 with a P/E ratio of 10.4 and P/S ratio of 2.99. The dividend yield of Intel Corp. stocks is 3.38%. Intel Corp. had an annual average earnings growth of 9.5% over the past 10 years. GuruFocus rated Intel Corp. the business predictability rank of 2-star.

Added: Oracle Corp. (ORCL)

Tom Gayner added to his holdings in Oracle Corp. by 64.35%. His purchase prices were between $24.78 and $34.09, with an estimated average price of $29.37. The impact to his portfolio due to this purchase was 0.23%. His holdings were 331,500 shares as of 09/30/2011. Oracle Corporation is one of the world's suppliers of software for information management. Oracle Corp. has a market cap of $163.29 billion; its shares were traded at around $32.37 with a P/E ratio of 14.85 and P/S ratio of 4.58. The dividend yield of Oracle Corp. stocks is 0.74%. Oracle Corp. had an annual average earnings growth of 19.3% over the past 10 years. GuruFocus rated Oracle Corp. the business predictability rank of 3.5-star.

Added: Anheuserbusch Inbev Sa/nv (BUD)

Tom Gayner added to his holdings in Anheuserbusch Inbev Sa/nv by 20.5%. His purchase prices were between $49.72 and $59.33, with an estimated average price of $54.55. The impact to his portfolio due to this purchase was 0.22%. His holdings were 405,601 shares as of 09/30/2011. Anheuser-Busch Companies is the holding company parent of Anheuser-BuschIncorporated and to a number of subsidiaries that conduct variousother business operations. Anheuserbusch Inbev Sa/nv has a market cap of $95.2 billion; its shares were traded at around $59.29 with a P/E ratio of 16.52 and P/S ratio of 2.62. The dividend yield of Anheuserbusch Inbev Sa/nv stocks is 1.64%.

Added: Federated Investors Inc. (FII)

Tom Gayner added to his holdings in Federated Investors Inc. by 71.86%. His purchase prices were between $16.36 and $24.53, with an estimated average price of $19.31. The impact to his portfolio due to this purchase was 0.22%. His holdings were 485,500 shares as of 09/30/2011. Federated Investors, Inc. is a provider of investment management and related financial services. Federated Investors Inc. has a market cap of $1.81 billion; its shares were traded at around $17.32 with a P/E ratio of 10.31 and P/S ratio of 1.9. The dividend yield of Federated Investors Inc. stocks is 5.54%. Federated Investors Inc. had an annual average earnings growth of 1% over the past 10 years.

Added: Teva Pharmaceutical Industries Ltd. (TEVA)

Tom Gayner added to his holdings in Teva Pharmaceutical Industries Ltd. by 34.15%. His purchase prices were between $35.26 and $49.47, with an estimated average price of $41.94. The impact to his portfolio due to this purchase was 0.2%. His holdings were 338,200 shares as of 09/30/2011. TEVA Pharmaceuticals USA, the business is to develop, manufacture, and market generic pharmaceuticals. Teva Pharmaceutical Industries Ltd. has a market cap of $36.06 billion; its shares were traded at around $40.52 with a P/E ratio of 8.73 and P/S ratio of 2.24. The dividend yield of Teva Pharmaceutical Industries Ltd. stocks is 1.73%. Teva Pharmaceutical Industries Ltd. had an annual average earnings growth of 20.7% over the past 10 years. GuruFocus rated Teva Pharmaceutical Industries Ltd. the business predictability rank of 4-star.

Added: Visa (V)

Tom Gayner added to his holdings in Visa by 707.32%. His purchase prices were between $79.24 and $92.84, with an estimated average price of $87.24. The impact to his portfolio due to this purchase was 0.15%. His holdings were 33,100 shares as of 09/30/2011. VISA operates the world's largest retail electronic payments network and is one of the most recognized global financial services brands. Visa has a market cap of $77.74 billion; its shares were traded at around $95.16 with a P/E ratio of 19.07 and P/S ratio of 8.46. The dividend yield of Visa stocks is 0.63%.

Added: Exxon Mobil Corp. (XOM)

Tom Gayner added to his holdings in Exxon Mobil Corp. by 4.63%. His purchase prices were between $68.03 and $85.22, with an estimated average price of $76.14. The impact to his portfolio due to this purchase was 0.15%. His holdings were 757,476 shares as of 09/30/2011. Exxon Mobil Corporation's principal business is energy, involving exploration for, and production of, crude oil and natural gas, manufacturing of petroleum products and transportation and sale of crudeoil, natural gas and petroleum products. Exxon Mobil Corp. has a market cap of $387.61 billion; its shares were traded at around $79.72 with a P/E ratio of 9.6 and P/S ratio of 1.01. The dividend yield of Exxon Mobil Corp. stocks is 2.36%. Exxon Mobil Corp. had an annual average earnings growth of 9.1% over the past 10 years.

Added: Microsoft Corp. (MSFT)

Tom Gayner added to his holdings in Microsoft Corp. by 20.51%. His purchase prices were between $24.05 and $28.08, with an estimated average price of $26.18. The impact to his portfolio due to this purchase was 0.12%. His holdings were 450,690 shares as of 09/30/2011. Microsoft develops, manufactures, licenses, and supports a wide range of software products for a multitude of computing devices. Microsoft Corp. has a market cap of $225.46 billion; its shares were traded at around $26.91 with a P/E ratio of 9.97 and P/S ratio of 3.22. The dividend yield of Microsoft Corp. stocks is 2.38%. Microsoft Corp. had an annual average earnings growth of 14.4% over the past 10 years. GuruFocus rated Microsoft Corp. the business predictability rank of 4.5-star.

Added: Lowes Cos. (LOW)

Tom Gayner added to his holdings in Lowes Cos. by 27.49%. His purchase prices were between $18.11 and $23.99, with an estimated average price of $20.77. The impact to his portfolio due to this purchase was 0.11%. His holdings were 446,200 shares as of 09/30/2011. Lowe's Companies Inc. is a retailer of home improvement products in the world, with specific emphasis on retail do-it-yourself and commercial business customers. Lowes Cos. has a market cap of $29.13 billion; its shares were traded at around $23.11 with a P/E ratio of 15.01 and P/S ratio of 0.6. The dividend yield of Lowes Cos. stocks is 2.42%. Lowes Cos. had an annual average earnings growth of 7.8% over the past 10 years.

Added: Watsco Inc. (WSO)

Tom Gayner added to his holdings in Watsco Inc. by 700%. His purchase prices were between $52.24 and $69.26, with an estimated average price of $58.82. The impact to his portfolio due to this purchase was 0.11%. His holdings were 40,000 shares as of 09/30/2011. Watsco, Inc. is one of the largest distributor of air conditioning and heating equipment and related parts and supplies in the United States. Watsco Inc. has a market cap of $2.09 billion; its shares were traded at around $63.29 with a P/E ratio of 24.06 and P/S ratio of 0.73. The dividend yield of Watsco Inc. stocks is 3.6%. Watsco Inc. had an annual average earnings growth of 8.3% over the past 10 years.

Added: Berkshire Hathaway Inc. Cl A (BRK.A)

Tom Gayner added to his holdings in Berkshire Hathaway Inc. Cl A by 1.81%. His purchase prices were between $100000 and $116640, with an estimated average price of $108534. The impact to his portfolio due to this purchase was 0.11%. His holdings were 958 shares as of 09/30/2011. Berkshire Hathaway Inc. is a holding company owning subsidiaries engaged in a number of diverse business activities. Berkshire Hathaway Inc. Cl A has a market cap of $190.51 billion; its shares were traded at around $115461 with a P/E ratio of 14.5 and P/S ratio of 1.4. Berkshire Hathaway Inc. Cl A had an annual average earnings growth of 18.2% over the past 10 years.

Added: Walt Disney (DIS)

Tom Gayner added to his holdings in Walt Disney by 3.77%. His purchase prices were between $29.55 and $40.74, with an estimated average price of $34.96. The impact to his portfolio due to this purchase was 0.1%. His holdings were 1,540,794 shares as of 09/30/2011. Walt Disney Company owns 100% of Disney Enterprises, Inc. Walt Disney has a market cap of $68.12 billion; its shares were traded at around $36.7 with a P/E ratio of 14.45 and P/S ratio of 1.67. The dividend yield of Walt Disney stocks is 1.09%. Walt Disney had an annual average earnings growth of 12.5% over the past 10 years. GuruFocus rated Walt Disney the business predictability rank of 3.5-star.

Reduced: Washington Real Estate Investment Trust (WRE)

Tom Gayner reduced to his holdings in Washington Real Estate Investment Trust by 93.93%. His sale prices were between $25.51 and $33.88, with an estimated average price of $30.64. The impact to his portfolio due to this sale was -0.35%. Tom Gayner still held 13,141 shares as of 09/30/2011. WASHINGTON R.E. INV. TRUST is a self-administered qualified equity real estate investment trust. Washington Real Estate Investment Trust has a market cap of $1.89 billion; its shares were traded at around $28.66 with a P/E ratio of 15.08 and P/S ratio of 6.35. The dividend yield of Washington Real Estate Investment Trust stocks is 6.05%. Washington Real Estate Investment Trust had an annual average earnings growth of 2.3% over the past 10 years.

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