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Markel Corp Q1 Portfolio Update: Buys CFX, ADM, ART, CRR, CLMS, BBSI, YUM

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Markel Corp just reported its first quarter portfolio. The portfolio was managed by renowned value investor Tom Gayner. The equity portfolio of Markel Corp has outperformed the S&P 500 in seven out of the last 10 years. Up to the end of 2011, it had a 10-year cumulative gain of 79%. In the same period, the S&P500 gained 35%.

Tom Gayner likes to buy high quality companies at reasonable prices. In GuruFocus interview with Mr. Gayner, he provided his great insight on how to invest in insurance companies.

In the first quarter Tom Gayner was in buying mode. He bought into seven new positions, added to 12 exist positions. He sold out 3 only. It is worth noting that Tom Gayner rarely sells stocks. As of 03/31/2012, Markel Gayner Asset Management Corp owns 101 stocks with a total value of $2.2 billion. These are the details of the buys and sells.

These are the top 5 holdings of Tom Gayner

  1. Carmax Gp (Cc) (KMX) - 5,142,488 shares, 8.2% of the total portfolio. Shares reduced by 0.94%
  2. Berkshire Hth-B (BRK.B) - 1,563,257 shares, 5.8% of the total portfolio. Shares reduced by 0.77%
  3. Berkshire Hth-A (BRK.A) - 1,000 shares, 5.6% of the total portfolio. Shares added by 4.49%
  4. Diageo Plc-Adr (DEO) - 1,234,280 shares, 5.5% of the total portfolio. Shares reduced by 1.03%
  5. Fairfax Fin Ltd (FRFHF) - 279,459 shares, 5.2% of the total portfolio.
He has CarMax and Berkshire Hathaway as his last holding. Fairfax Financial, the company that Prem Watsa founded and operates, it is his fourth largest holding.

These are his new positions:

New Purchase: Colfax Corp (CFX)

His purchase prices were between $28.25 and $36.15, with an estimated average price of $30.93. The impact to his portfolio due to this purchase was 1.8%. His holdings were 1,085,070 shares as of 03/31/2012.

New Purchase: Archer Daniels (ADM)

His purchase prices were between $28.63 and $32.16, with an estimated average price of $28.3. The impact to his portfolio due to this purchase was 0.55%. His holdings were 376,000 shares as of 03/31/2012.

New Purchase: Artio Globl Inv (ART)

His purchase prices were between $4.25 and $5.1, with an estimated average price of $3.1. The impact to his portfolio due to this purchase was 0.31%. His holdings were 1,408,600 shares as of 03/31/2012.

New Purchase: Carbo Ceramics (CRR)

His purchase prices were between $85.94 and $133.99, with an estimated average price of $96.81. The impact to his portfolio due to this purchase was 0.21%. His holdings were 44,000 shares as of 03/31/2012.

New Purchase: Calamos Asset-a (CLMS)

His purchase prices were between $11.77 and $13.26, with an estimated average price of $11.69. The impact to his portfolio due to this purchase was 0.02%. His holdings were 25,000 shares as of 03/31/2012.

New Purchase: Yum! Brands Inc (YUM)

His purchase prices were between $58.57 and $71.44, with an estimated average price of $61.13. The impact to his portfolio due to this purchase was 0.01%. His holdings were 3,200 shares as of 03/31/2012.

New Purchase: Barrett Bus (BBSI)

His purchase prices were between $16.14 and $20.31, with an estimated average price of $17.24. The impact to his portfolio due to this purchase was 0.01%. His holdings were 10,500 shares as of 03/31/2012.

Here is the complete portfolio of Tom Gayner. Also check out the Undervalued Stocks, Top Growth Companies, and High Yield stocks of Tom Gayner.


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