Tom Gayner (Trades, Portfolio) is the executive vice president and chief investment officer of Markel Corp. (MKL, Financial) 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)
During the fourth quarter of 2015, the guru increased his stake by 33.33% and again by 8.75% in the first quarter. The company designs, manufactures and markets mobile communication and media devices, personal computers and portable digital music players and sells a variety of related software, services, accessories, networking solutions and third-party digital content.
During the second quarter revenue was $50.6 billion, and quarterly net income of $1.90 per diluted share compared to revenue of $58 billion and net income of $2.33 per diluted share in the year-ago quarter.
The largest shareholder among the gurus is Ken Fisher (Trades, Portfolio) with 0.21% of outstanding shares followed by Spiros Segalas (Trades, Portfolio) with 0.21%, Warren Buffett (Trades, Portfolio) with 0.18%, Pioneer Investments (Trades, Portfolio) with 0.16%, David Einhorn (Trades, Portfolio) with 0.15%, Jeremy Grantham (Trades, Portfolio) with 0.13%, Chase Coleman (Trades, Portfolio) with 0.1% and David Rolfe (Trades, Portfolio) with 0.09%.
Cummins Inc. (CMI)
During fourth-quarter 2015, the investor raised his stake by 44.00% and again bought shares in the first quarter with an increase of 4.17% of the stake. The fund currently holds 0.02% of outstanding shares in the designer, manufacturer, distributor and servicer of diesel and natural gas engines, electric power generation systems and engine-related component products.
During the last quarter revenue dropped 9% from the same quarter in 2015 and earnings before interest and taxes (EBIT) in the first quarter were $484 million, or 11.3% of sales, down from $562 million or 11.9% of sales a year ago.
HOTCHKIS & WILEY is the company's largest shareholder among the gurus with 3.45% of outstanding shares followed by Bill Nygren (Trades, Portfolio) with 1.76%, First Eagle Investment (Trades, Portfolio) with 1.13%, T Rowe Price Equity Income Fund (Trades, Portfolio) with 0.63%, Joel Greenblatt (Trades, Portfolio) with 0.2%, Jerome Dodson (Trades, Portfolio) with 0.12%, John Buckingham (Trades, Portfolio) with 0.03% and Grantham with 0.01%.
Parker Hannifin Corp. (PH)
During fourth-quarter 2015, the guru increased his stake by 45.00% and again by 6.21% in the first quarter. The fund holds 0.03% of outstanding shares in the company that is a diversified manufacturer of motion and control technologies and systems, providing precision-engineered solutions for mobile, industrial and aerospace markets.
During the last quarter cash flow from operations for the first nine months of fiscal 2016 was $681.5 million, or 8.1% of sales, compared with $791.1 million, or 8.3% of sales, in the prior-year period. Sales decreased 11% from the third quarter of a year before.
The largest shareholder among the gurus is Richard Pzena (Trades, Portfolio) with 2.92% of outstanding shares followed by Nygren with 1.89%, Diamond Hill Capital (Trades, Portfolio) with 1.74%, HOTCHKIS & WILEY with 1.69%, Steven Cohen (Trades, Portfolio) with 0.29%, Greenblatt with 0.1%, Chuck Royce (Trades, Portfolio) with 0.04%, Robert Olstein (Trades, Portfolio) with 0.03% and Louis Moore Bacon (Trades, Portfolio) with 0.01%.
Rockwell Automation Inc. (ROK)
During fourth-quarter 2015, the investor raised his stake by 31.94% and in the first quarter again bought shares with an increase of 5.68% to the stake. The fund currently holds 0.04% of outstanding shares in the company that is a provider of industrial automation power, control and information solutions. It operates in two segments: architecture and software and control products and solutions.
Second-quarter organic sales decreased 3.6% from the same quarter of a year before and adjusted EPS decreased 13.8%.
PRIMECAP Management (Trades, Portfolio) is the company's largest shareholder among the gurus, with 0.85%, of outstanding shares followed by Grantham with 0.44%, Mario Gabelli (Trades, Portfolio) with 0.25%, Fisher with 0.09%, Greenblatt with 0.09%, Chris Davis (Trades, Portfolio) with 0.09% and Bacon with 0.04%.
PACCAR Inc. (PCAR)
During fourth-quarter 2015, the guru increased the stake by 80.77% and again by 0.68% in the first quarter. The fund currently holds 0.03% of outstanding shares in the company that designs, manufactures and distributes light-, medium- and heavy-duty trucks and related aftermarket parts.
First-quarter net sales and financial services revenues were $4.30 billion compared to $4.83 billion for the first quarter of 2015. The company repurchased 1.1 million of its common shares for $56.3 million.
The largest shareholder among the gurus is Davis with 1.12% of outstanding shares followed by HOTCHKIS & WILEY with 0.8%, Pioneer Investments (Trades, Portfolio) with 0.25%, Greenblatt with 0.11%, Cohen with 0.06% and Gabelli with 0.03%.
United Technologies Corp. (UTX)
During fourth-quarter 2015, the investor raised his stake by 15.09% and in the first quarter again bought shares in the company with an increase of 1.31% to the stake. The fund currently holds 0.01% of outstanding shares in the company that provides high technology products and services to the building systems and aerospace industries.
During the last quarter adjusted EPS grew 2% from the first quarter of 2015 and sales had 2% growth.
Barrow, Hanley, Mewhinney & Strauss is the company's largest shareholder among the gurus with 1.84% of outstanding shares followed by Chris Davis (Trades, Portfolio) with 1.06%, Fisher with 1%, Mason Hawkins (Trades, Portfolio) with 0.85%, First Pacific Advisors (Trades, Portfolio) with 0.76%, Steven Romick (Trades, Portfolio) with 0.68% and Diamond Hill Capital (Trades, Portfolio) with 0.45%.
MasterCard Inc. (MA)
During fourth-quarter 2015, the guru increased his stake by 10.47% and in the first quarter again bought shares in the company with another increase of 0.77% of its stake. The fund currently holds 0.01% of outstanding shares of the technology company in the payments industry that connects consumers, financial institutions, merchants, governments and businesses, enabling them to use electronic forms of payment instead of cash and checks.
Net revenue for the first quarter of 2016 had a 10% increase, driven by increase in processed transactions of 14%, 13% increase in gross dollar volume and an increase in cross-border volumes of 12%.
The largest shareholder among the gurus is Tom Russo (Trades, Portfolio) with 0.88%, of outstanding shares followed by Segalas with 0.88%, Ruane Cunniff (Trades, Portfolio) with 0.47%, Steve Mandel (Trades, Portfolio) with 0.46%, Buffett with 0.45%, Chuck Akre (Trades, Portfolio) with 0.43% and Manning & Napier Advisors Inc. with 0.43%.
Alphabet Inc. (GOOG)
During fourth-quarter 2015, the investor raised his stake by 27.93% and by 43.67% in the first quarter. The company through its subsidiary Google Inc. is engaged in improving the ways people connect with information and products including Search, Android, YouTube, Apps, Maps & Ads. It also produces Internet-connected home devices and provides Internet services.
First-quarter results represent a tremendous start to the year with 17% revenue growth year on year and 23% growth on a constant currency basis.
Dodge & Cox is the largest shareholder of the company among the gurus, with 0.47% of outstanding shares followed by PRIMECAP Management (Trades, Portfolio) with 0.37%, Davis with 0.2%, Andreas Halvorsen (Trades, Portfolio) with 0.15%, Hawkins with 0.15%, Frank Sands (Trades, Portfolio) with 0.14%, Grantham with 0.14% and Mandel with 0.11%.
Norfolk Southern Corp. (NSC)
During fourth-quarter 2015, the guru increased his stake by 36.18% and in the first quarter again bought shares in the company with an increase of 0.72% to its stake. The fund currently holds 0.07% of outstanding shares in the company that is engaged in the rail transportation of raw materials, intermediate products and finished goods in the Southeast, East and Midwest and, via interchange with rail carriers, to and from the rest of the U.S.
The largest shareholder among the gurus is Barrow, Hanley, Mewhinney & Strauss with 1.06%, of outstanding shares followed by Cohen with 0.19%, PRIMECAP Management (Trades, Portfolio) with 0.14%, Pioneer Investments (Trades, Portfolio) with 0.04%, Buckingham with 0.03% and Manning & Napier Advisors Inc. with 0.01%.
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