Tom Gayner (Trades, Portfolio) is the Co-CEO at Markel Gayner Asset Management Corp. The hedge fund had an equity portfolio composed of 114 stocks valued at $5.37 billion at the quarter's end. It sold shares of the following stocks during the second quarter of 2020.
CarMax
The fund exited its position in CarMax Inc. (KMX). The trade had an impact of -4.98% on the portfolio.
The company, which provides used and new cars, has a market cap of $16.20 billion and an enterprise value of $30.87 billion.
GuruFocus gives the company a profitability and growth rating of 7 out of 10. The return on equity of 17.3% and return on assets of 3.09% are outperforming 58% of companies in the vehicles and parts industry. Its financial strength is rated 4 out of 10. The cash-debt ratio of 0.04 is below the industry median of 0.46.
The largest guru shareholder of the company is PRIMECAP Management (Trades, Portfolio) with 6.29% of outstanding shares, followed by Ruane Cunniff (Trades, Portfolio) with 5.64% and Chuck Akre (Trades, Portfolio) with 5.04%.
Marriott International
The fund closed its Marriott International Inc. (MAR) holding. The portfolio was impacted by -2.24%.
The company has a market cap of $27.92 billion and an enterprise value of $39.24 billion.
GuruFocus gives the company a profitability and growth rating of 7 out of 10. The return on equity of 106.44% and return on assets of 3.71% are outperforming 70% of companies in the travel and leisure industry. Its financial strength is rated 4 out of 10. The cash-debt ratio of 0.14 is below the industry median of 0.42.
The largest guru shareholder of the company is PRIMECAP Management (Trades, Portfolio) with 0.33% of outstanding shares, followed by Steven Romick (Trades, Portfolio)’s FPA Crescent Fund with 0.28% and First Pacific Advisors (Trades, Portfolio) with 0.15%.
Walgreens Boots Alliance
The fund exited its position in Walgreens Boots Alliance Inc. (WBA).The portfolio was impacted by -1.53%.
The company has a market cap of $35.47 billion and an enterprise value of $76.01 billion.
GuruFocus gives the company a profitability and growth rating of 8 out of 10. The return on equity of 3.28% and return on assets of 0.94% are underperforming 55% of companies in the healthcare providers and services industry. Its financial strength is rated 4 out of 10. The cash-debt ratio of 0.02 is below the industry median of 0.56.
Some notable guru shareholders are Pioneer Investments (Trades, Portfolio) with 0.09% of outstanding shares, NWQ Managers (Trades, Portfolio) with 0.04% and Jeremy Grantham (Trades, Portfolio) with 0.02%.
Automatic Data Processing
The fund sold out of its shares in Automatic Data Processing Inc. (ADP), impacting the portfolio by -1.37%.
The company, which provides payroll processing and benefits administration for human resources companies, has a market cap of $58.78 billion and an enterprise value of $59.23 billion.
GuruFocus gives the company a profitability and growth rating of 8 out of 10. The return on equity of 45.06% and return on assets of 5.94% are outperforming 70% of companies in the business services industry. Its financial strength is rated 6 out of 10. The cash-debt ratio of 0.81 is above the industry median of 0.69.
The largest guru shareholder of the company is Bill Nygren (Trades, Portfolio) with 0.19% of outstanding shares, followed by Pioneer Investments (Trades, Portfolio) with 0.18% and MS Global Franchise Fund (Trades, Portfolio) with 0.15%.
Anthem
The investment fund closed its holding in Anthem Inc. (ANTM). The trade had an impact of -0.74% on the portfolio.
The private health insurance organization firm has a market cap of $68.13 billion and an enterprise value of $83.58 billion.
GuruFocus gives the company a profitability and growth rating of 6 out of 10. The return on equity of 18.49% and return on assets of 7.37% e outperforming 57% of companies in the healthcare plans industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 0.28 is below the industry median of 0.56.
The largest guru shareholder of the company is Vanguard Health Care Fund (Trades, Portfolio) with 1.86% of outstanding shares, followed by First Eagle Investment (Trades, Portfolio) with 0.85% and Andreas Halvorsen (Trades, Portfolio) with 0.72%.
Deere
The investment fund cut its Deere & Co. (DE) position by 24.86%. The trade had an impact of -0.65% on the portfolio.
The company, which provides agricultural equipment, has a market cap of $55.72 billion and an enterprise value of $96.34 billion.
GuruFocus gives the company a profitability and growth rating of 7 out of 10. The return on equity of -23.6% and return on assets of 3.8% are outperforming 63% of companies in the farm and heavy construction machinery industry. Its financial strength is rated 3 out of 10. The cash-debt ratio of 0.19 is below the industry median of 0.54.
The largest guru shareholder of the company is First Eagle Investment (Trades, Portfolio) with 1.32% of outstanding shares, followed by Barrow, Hanley, Mewhinney & Strauss with 0.68% and Gayner with 0.24%.
The Travelers Companies
The investment fund closed its holding of The Travelers Companies Inc. (TRV). The trade had an impact of -0.59% on the portfolio.
The company has a market cap of $28.64 billion and an enterprise value of $35.06 billion.
GuruFocus gives the company a profitability and growth rating of 6 out of 10. The return on equity of 7.03% and return on assets of 8.2% are outperforming 57% of companies in the insurance industry. Its financial strength is rated 4 out of 10 with cash-debt ratio of 0.09.
First Eagle Investment (Trades, Portfolio) is the largest guru shareholder of the company with 1.54% of outstanding shares, followed by HOTCHKIS & WILEY with 1.03%.
Disclosure: I do not own any stocks mentioned.
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