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Tom Gayner Buys BrownForman Corp., ConocoPhillips, Covanta Holding Corp., Sells Cincinnati Financial Corp., Cohen & Steers Inc., Allied Capital Corp.

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[Tom Gayner, CIO of Markel Corp, is selling more than what he bought. Is he raising capital for Markel? Or he saw risks in the market? These are his buys and sells during the fourth quarter.

Tom Gayner buys BrownForman Corp., ConocoPhillips, Covanta Holding Corp., sells Cincinnati Financial Corp., Cohen & Steers Inc., Allied Capital Corp., CORUS Bankshares Inc., LandAmerica Financial Group Inc., Marsh & McLennan Companies Inc., Microsoft Corp., News Corp., XL Capital Ltd during the 3-months ended 12/31/2008, according to the most recent filings of his investment company, Markel Gayner Asset Management Corp. Tom Gayner owns 77 stocks with a total value of $1.1 billion. These are the details of the buys and sells.

New Purchases: BF-B, COP, CVA,

Added Positions: BAM, DIS, FNF, LUK,

Reduced Positions: CMCSA, NYX,

Sold Out: ALD, CINF, CNS, CORS, LFG, MMC, MSFT, NWS, XL,

For the details of Tom Gayner's stock buys and sells, go to the Link Here

Added: The Walt Disney Company Disney (DIS)

Tom Gayner added to his holdings in The Walt Disney Company Disney by 122.55%. His purchase prices were between $20.77 and $25.53, with an estimated average price of $22.6. The impact to his portfolio due to this purchase was 1.65%. His holdings were 1,482,775 shares as of 12/31/2008.

Walt Disney Company owns 100% of Disney Enterprises Inc. whichtogether with its subsidiaries is a diversified worldwide entertainmentcompany with operations in five business segments: Media Networks StudioEntertainment Theme Parks and Resorts Consumer Products and Internet andDirect Marketing. The Walt Disney Company Disney has a market cap of $38.28 billion; its shares were traded at around $19.44 with a P/E ratio of 9.1 and P/S ratio of 1.01. The dividend yield of The Walt Disney Company Disney stocks is 1.69%. The Walt Disney Company Disney had an annual average earning growth of 4.4% over the past 10 years.

Added: Brookfield Asset Management Inc. Ltd. (BAM)

Tom Gayner added to his holdings in Brookfield Asset Management Inc. Ltd. by 41.37%. His purchase prices were between $12.31 and $19.05, with an estimated average price of $15.8. The impact to his portfolio due to this purchase was 1.23%. His holdings were 3,104,839 shares as of 12/31/2008.

Brookfield Asset Management Inc. is an asset manager. Focused on property power and infrastructure assets the company has assets under management and is co-listed on the New York and Toronto Stock Exchanges under the symbol BAM. At Brookfield they continually strive to ensure that they have sound corporate governance practices to maintain investor confidence in the way in which they do business. To ensure it communicates with there practices and commitment to strong corporate governance they are proud to share with its Statement of Corporate Governance Corporate Disclosure Policy Code of Business Conduct and Ethics and other related information on its corporate governance initiatives and practices. Brookfield Asset Management Inc. Ltd. has a market cap of $9.05 billion; its shares were traded at around $16.38 with a P/E ratio of 12.3 and P/S ratio of 0.97. The dividend yield of Brookfield Asset Management Inc. Ltd. stocks is 3.3%. Brookfield Asset Management Inc. Ltd. had an annual average earning growth of 32.6% over the past 5 years.

Added: Fidelity National Financial Inc. (FNF)

Tom Gayner added to his holdings in Fidelity National Financial Inc. by 6.04%. His purchase prices were between $7.31 and $17.36, with an estimated average price of $11.4. The impact to his portfolio due to this purchase was 0.16%. His holdings were 1,754,800 shares as of 12/31/2008.

Fidelity National Title Group Inc. is a leading provider of title insurance specialty insurance and claims management services. FNT is one of the nation's largest title insurance companies through its title insurance underwriters. FNT also provides flood insurance personal lines insurance and home warranty insurance through it specialty insurance business. FNT also is a leading provider of outsourced claims management services to large corporate and public sector entities through its minority-owned subsidiary Sedgwick CMS. Fidelity National Financial Inc. has a market cap of $3.1 billion; its shares were traded at around $19.75 with a P/E ratio of 39.8 and P/S ratio of 0.56. The dividend yield of Fidelity National Financial Inc. stocks is 4.1%.

Added: Leucadia National Corp. (LUK)

Tom Gayner added to his holdings in Leucadia National Corp. by 54.39%. His purchase prices were between $14.56 and $31.83, with an estimated average price of $22.3. The impact to his portfolio due to this purchase was 0.13%. His holdings were 212,900 shares as of 12/31/2008.

LEUCADIA NATL is a diversified financial services holding companyprincipally engaged in personal and commercial lines of property and casualty insurance life insurance banking and lending and manufacturing. The Company concentrates on return on investment and cash flow to build long-term shareholder value rather than emphasizing volume or market share. Additionally the Company continuously evaluates the retention and disposition of its existing operations and investigates possible acquisitions of new businesses in order to maximize shareholder value. Leucadia National Corp. has a market cap of $3.79 billion; its shares were traded at around $16.96 with a P/E ratio of 55.3 and P/S ratio of 3.28.

New Purchase: BrownForman Corp. (BF-B)

Tom Gayner initiated holdings in BrownForman Corp.. His purchase prices were between $43.24 and $49.81, with an estimated average price of $46.6. The impact to his portfolio due to this purchase was 0.32%. His holdings were 70,965 shares as of 12/31/2008.

Brown-Forman Corporation is a producer and marketer of fine quality beverage alcohol brands including Jack Daniel?s Southern Comfort Finlandia Vodka Tequila Herradura el Jimador Tequila Canadian Mist Fetzer and Bolla Wines and Korbel California Champagnes. BrownForman Corp. has a market cap of $6.98 billion; its shares were traded at around $46.84 with a P/E ratio of 14.6 and P/S ratio of 2.13. The dividend yield of BrownForman Corp. stocks is 2.53%. BrownForman Corp. had an annual average earning growth of 8.2% over the past 10 years. GuruFocus rated BrownForman Corp. the business predictability rank of 3.5-star.

New Purchase: ConocoPhillips (COP)

Tom Gayner initiated holdings in ConocoPhillips. His purchase prices were between $46.84 and $52.52, with an estimated average price of $49.7. The impact to his portfolio due to this purchase was 0.05%. His holdings were 10,000 shares as of 12/31/2008.

ConocoPhillips is a major international integrated energy company with operations in some 49 countries. ConocoPhillips has a market cap of $70.86 billion; its shares were traded at around $48.53 with a P/E ratio of 4.5 and P/S ratio of 0.29. The dividend yield of ConocoPhillips stocks is 3.96%. ConocoPhillips had an annual average earning growth of 19% over the past 10 years.

New Purchase: Covanta Holding Corp. (CVA)

Tom Gayner initiated holdings in Covanta Holding Corp.. His purchase prices were between $17.52 and $23.12, with an estimated average price of $20.8. The impact to his portfolio due to this purchase was 0.05%. His holdings were 23,992 shares as of 12/31/2008.

Danielson Holding Corporation is a holding company. Their largest subsidiary is National American Insurance Company of California (NAICC). NAICC and its subsidiaries write workers' compensation non-standard private passenger and commercial automobile insurance in the western United States primarily California. Covanta Holding Corp. has a market cap of $2.67 billion; its shares were traded at around $19.65 with a P/E ratio of 18.7 and P/S ratio of 1.86.

Reduced: NYSE Euronext (NYX)

Tom Gayner reduced to his holdings in NYSE Euronext by 66.67%. His sale prices were between $19 and $29.84, with an estimated average price of $25.3. The impact to his portfolio due to this sale was -0.01%. Tom Gayner still held 10,000 shares as of 12/31/2008.

NYSE Group Inc. is a leading provider of securities listing trading and market data products and services. The NYSE is the world's largest and most liquid cash equities exchange. The NYSE provides a reliable orderly liquid and efficient marketplace where investors buy and sell listed companies' common stock and other securities. NYSE Arca the first open all-electronic stock exchange in the United States has a leading position in trading exchange-traded funds and exchange-listed securities. NYSE Arca is also an exchange for trading equity options. NYSE Arca's trading platforms provide customers with fast electronic execution and open direct and anonymous market access. NYSE Regulation an independent not-for-profit subsidiary regulates member organizations through the enforcement of marketplace rules and federal securities laws. NYSE Euronext has a market cap of $5.83 billion; its shares were traded at around $21.71 with a P/E ratio of 6.9 and P/S ratio of 1.4. The dividend yield of NYSE Euronext stocks is 5.45%.

Reduced: Comcast Corp. (CMCSA)

Tom Gayner reduced to his holdings in Comcast Corp. by 92.48%. His sale prices were between $13.02 and $17.35, with an estimated average price of $15.5. The impact to his portfolio due to this sale was -0.09%. Tom Gayner still held 66,850 shares as of 12/31/2008.

Comcast Corp. among the world's leading communication companies provides basic cable digital cable and high speed internet services that connect people to what's important in their lives. They are in the process of deploying digital video applications and high-speed Internet access service to expand the products available on their cable communications networks. Comcast Corp. has a market cap of $42.19 billion; its shares were traded at around $14.41 with a P/E ratio of 17.7 and P/S ratio of 1.37. The dividend yield of Comcast Corp. stocks is 1.71%. Comcast Corp. had an annual average earning growth of 9.6% over the past 10 years.

Sold Out: Cohen & Steers Inc. (CNS)

Tom Gayner sold out his holdings in Cohen & Steers Inc.. His sale prices were between $8.62 and $20.67, with an estimated average price of $13.5. The impact to his portfolio due to this sale was less than 0.01%.

Cohen & Steers Inc. is a leading manager of income-oriented equity portfolios and specializes in common and preferred stocks of REITs and utilities as well as other preferred securities. Based in New York City the firm serves individual and institutional investors through a wide range of open-end funds closed-end funds and separate accounts. Cohen & Steers Inc. has a market cap of $449.09 million; its shares were traded at around $11.92 with a P/E ratio of 12.6 and P/S ratio of 2.42. The dividend yield of Cohen & Steers Inc. stocks is 3.7%.

Sold Out: News Corp. (NWS)

Tom Gayner sold out his holdings in News Corp.. His sale prices were between $6.38 and $10.62, with an estimated average price of $8.6. The impact to his portfolio due to this sale was less than 0.01%.

News Corporation's diversified global operations include the production and distribution of motion pictures and television programming; television satellite and cable broadcasting; the publication of newspapers magazines books; the production and distribution of promotional and advertising products and services; the development of digital broadcasting; the development of conditional access and subscriber management systems; and the creation and distribution of popular on-line programming. News Corp. has a market cap of $18.92 billion; its shares were traded at around $7.51 with a P/E ratio of 5.7 and P/S ratio of 0.57. The dividend yield of News Corp. stocks is 1.66%. News Corp. had an annual average earning growth of 5.7% over the past 10 years.

Sold Out: Microsoft Corp. (MSFT)

Tom Gayner sold out his holdings in Microsoft Corp.. His sale prices were between $19.12 and $23.77, with an estimated average price of $20.6. The impact to his portfolio due to this sale was less than 0.01%.

Microsoft develops manufactures licenses and supports a wide range of software products for a multitude of computing devices. Microsoft software includes scalable operating systems for servers personal computers and intelligent devices; server applications for client/server environments; knowledge worker productivity applications; and software development tools. The Company's online efforts include the MSN network of Internet products and services and alliances with companies involved with broadband access and various forms of digital interactivity. Microsoft Corp. has a market cap of $152.11 billion; its shares were traded at around $19.44 with a P/E ratio of 9 and P/S ratio of 2.52. The dividend yield of Microsoft Corp. stocks is 3.04%. Microsoft Corp. had an annual average earning growth of 10% over the past 10 years. GuruFocus rated Microsoft Corp. the business predictability rank of 4-star.

Sold Out: Marsh & McLennan Companies Inc. (MMC)

Tom Gayner sold out his holdings in Marsh & McLennan Companies Inc.. His sale prices were between $22.42 and $28.99, with an estimated average price of $24.7. The impact to his portfolio due to this sale was less than 0.01%.

Marsh & McLennan is primarily a holding company which through its subsidiaries and affiliates provides clients with analysis advice and transactional capabilities in the fields of risk and insurance services investment management and consulting. MMC Enterprise Risk provides advanced risk consulting services and transactional solutions on enterprise. MMC CAPITAL is a global private equity firm that invests in industries where MMC possesses specialized knowledge and proprietary deal flow. Marsh & McLennan Companies Inc. has a market cap of $9.91 billion; its shares were traded at around $19.79 with a P/E ratio of 14.8 and P/S ratio of 0.87. The dividend yield of Marsh & McLennan Companies Inc. stocks is 4.14%.

Sold Out: Cincinnati Financial Corp. (CINF)

Tom Gayner sold out his holdings in Cincinnati Financial Corp.. His sale prices were between $19.1 and $30.14, with an estimated average price of $25.9. The impact to his portfolio due to this sale was less than 0.01%.

Cincinnati Financial Corporation offers property and casualty insurance its main business through The Cincinnati Insurance Company The Cincinnati Indemnity Company and The Cincinnati Casualty Company. The Cincinnati Life Insurance Company markets life and disability income insurance and annuities. CFC Investment Company offers commercial leasing and financing services. CinFin Capital Management Company provides asset management services to institutions corporations and individuals. Cincinnati Financial Corp. has a market cap of $3.56 billion; its shares were traded at around $22.36 with a P/E ratio of 8.5 and P/S ratio of 0.84. The dividend yield of Cincinnati Financial Corp. stocks is 7.11%. Cincinnati Financial Corp. had an annual average earning growth of 18.5% over the past 10 years.

Sold Out: LandAmerica Financial Group Inc. (LFG)

Tom Gayner sold out his holdings in LandAmerica Financial Group Inc.. The impact to his portfolio due to this sale was less than 0.01%.

LandAmerica Financial Group Inc. through its principal subsidiary Lawyers Title Insurance Corporation is engaged primarily in the title insurance business through its network of branches service offices subsidiaries and agencies. In addition to writing title insurance in some states Lawyers Title furnishes certificates of title and abstracts of title. Lawyers Title also offers a closing protection letter to lenders and owners who purchase title insurance and in some areas it also serves as an escrow agent in closing real estate transactions. LandAmerica Financial Group Inc. has a market cap of $0.87 million; its shares were traded at around $0.2 . LandAmerica Financial Group Inc. had an annual average earning growth of 1.3% over the past 10 years.

Sold Out: Allied Capital Corp. (ALD)

Tom Gayner sold out his holdings in Allied Capital Corp.. His sale prices were between $1.4 and $5.83, with an estimated average price of $3.3. The impact to his portfolio due to this sale was less than 0.01%.

Allied Capital is the nation's largest business development company andprovides long-term investment capital to support the expansion of growingcompanies nationwide. The company provides mezzanine debt and equityfinancing and also participates in the real estate capital markets as aninvestor in commercial mortgage-backed securities. The company isheadquartered in Washington DC. Allied Capital Corp. has a market cap of $278.76 million; its shares were traded at around $1.61 with a P/E ratio of 1.1 and P/S ratio of 0.6. The dividend yield of Allied Capital Corp. stocks is 166.67%. Allied Capital Corp. had an annual average earning growth of 1.6% over the past 10 years.

Sold Out: CORUS Bankshares Inc. (CORS)

Tom Gayner sold out his holdings in CORUS Bankshares Inc.. His sale prices were between $1.02 and $3.18, with an estimated average price of $1.7. The impact to his portfolio due to this sale was less than 0.01%.

CORUS BANKSHARES INC. is a multi-bank holding company engaged in general banking business. CORUS Bankshares Inc. has a market cap of $59.62 million; its shares were traded at around $0.51 with and P/S ratio of 0.08. CORUS Bankshares Inc. had an annual average earning growth of 16.2% over the past 10 years.

Sold Out: XL Capital Ltd (XL)

Tom Gayner sold out his holdings in XL Capital Ltd. His sale prices were between $2.68 and $9.52, with an estimated average price of $5.9. The impact to his portfolio due to this sale was less than 0.01%.

LX Capital Limited through its subsidiaries provides excess liability insurance coverage to industrial commercial and other enterprises directors and officers of such enterprises professional firms high excess property coverage and the assumption of reinsurance contracts on a worldwide basis. The company's strategy is to be the premier provider of strategic financial risk solutions to specific global markets by applying intellectual and financial capital to assure its customers' economic vitality and enhance their competitive positions. XL Capital Ltd has a market cap of $959.29 million; its shares were traded at around $3.39 with a P/E ratio of 0.8 and P/S ratio of 0.11. The dividend yield of XL Capital Ltd stocks is 26.21%.



Rating: 2.4/5 (11 votes)

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