Markel CIO Tom Gayner Buys Deere & Co, Unilever, Schlumberger, Sells Berkshire Hathaway, Teva, Brown & Brown

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Feb 09, 2015
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Markel CIO Tom Gayner (Trades, Portfolio) just reported his fourth quarter portfolio. Mr. Gayner said that he has the luxury of not selling stocks as Markel rarely needed money from its investment arm. But Tom Gayner (Trades, Portfolio) sold most of his Berkshire Class A position, which he has owned for years.

Tom Gayner (Trades, Portfolio) buys Deere & Co, Unilever PLC, Schlumberger NV, Oaktree Capital Group LLC, Marsh & McLennan Companies Inc, etc., sells Berkshire Hathaway Inc, Teva Pharmaceutical Industries Ltd, Brown & Brown Inc, Coca-Cola Co, International Game Technology during the 3-months ended 12/31/2014, according to the most recent filings of his investment company, Markel Gayner Asset Management Corp. As of 12/31/2014, Markel Gayner Asset Management Corp owns 107 stocks with a total value of $3.8 billion. These are the details of the buys and sells.

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

This is the sector weightings of his portfolio:

Financial Services 24.1%
Consumer Cyclical 22.2%
Consumer Defensive 17.6%
Industrials 15%
Real Estate 6.2%
Healthcare 6%
Energy 4.1%
Technology 3.6%
Basic Materials 1%
Communication Services 0.3%


These are the top 5 holdings of Tom Gayner (Trades, Portfolio)

1. CarMax Inc (KMX) - 4,963,070 shares, 8.7% of the total portfolio.

2. Berkshire Hathaway Inc (BRK.B) - 1,511,607 shares, 6.0% of the total portfolio.

3. Brookfield Asset Management Inc (BAM) - 3,313,548 shares, 4.4% of the total portfolio. Shares added by 0.82%

4. Walgreens Boots Alliance Inc (WBA) - 2,135,000 shares, 4.3% of the total portfolio.

5. Fairfax Financial Holdings Ltd (FRFHF) - 279,459 shares, 3.9% of the total portfolio.


New Purchase: Carbo Ceramics Inc (CRR)

Tom Gayner (Trades, Portfolio) initiated holdings in Carbo Ceramics Inc. His purchase prices were between $34.1 and $57.16, with an estimated average price of $46.51. The impact to his portfolio due to this purchase was 0.06%. His holdings were 61,000 shares as of 12/31/2014.

New Purchase: Liberty Global PLC (LBTYA)

Tom Gayner (Trades, Portfolio) initiated holdings in Liberty Global PLC. His purchase prices were between $41.29 and $51.99, with an estimated average price of $46.43. The impact to his portfolio due to this purchase was 0.04%. His holdings were 33,000 shares as of 12/31/2014.

New Purchase: Halliburton Co (HAL)

Tom Gayner (Trades, Portfolio) initiated holdings in Halliburton Co. His purchase prices were between $37.82 and $61.86, with an estimated average price of $48.49. The impact to his portfolio due to this purchase was 0.02%. His holdings were 15,000 shares as of 12/31/2014.

New Purchase: Wesco Aircraft Holdings Inc (WAIR)

Tom Gayner (Trades, Portfolio) initiated holdings in Wesco Aircraft Holdings Inc. His purchase prices were between $13.48 and $18.12, with an estimated average price of $15.85. The impact to his portfolio due to this purchase was 0.01%. His holdings were 30,000 shares as of 12/31/2014.

New Purchase: Watsco Inc (WSO)

Tom Gayner (Trades, Portfolio) initiated holdings in Watsco Inc. His purchase prices were between $86.14 and $108.2, with an estimated average price of $99.39. The impact to his portfolio due to this purchase was 0.01%. His holdings were 2,000 shares as of 12/31/2014.

New Purchase: LGI Homes Inc (LGIH)

Tom Gayner (Trades, Portfolio) initiated holdings in LGI Homes Inc. His purchase prices were between $13.88 and $19.61, with an estimated average price of $16.97. The impact to his portfolio due to this purchase was 0.01%. His holdings were 17,000 shares as of 12/31/2014.

Sold Out: Teva Pharmaceutical Industries Ltd (TEVA)

Tom Gayner (Trades, Portfolio) sold out his holdings in Teva Pharmaceutical Industries Ltd. His sale prices were between $49.86 and $58.72, with an estimated average price of $55.72.

Sold Out: Coca-Cola Co (KO)

Tom Gayner (Trades, Portfolio) sold out his holdings in Coca-Cola Co. His sale prices were between $40.39 and $44.83, with an estimated average price of $42.73.

Sold Out: International Game Technology (IGT)

Tom Gayner (Trades, Portfolio) sold out his holdings in International Game Technology. His sale prices were between $16 and $17.27, with an estimated average price of $16.81.

Sold Out: Sigma-Aldrich Corp (SIAL)

Tom Gayner (Trades, Portfolio) sold out his holdings in Sigma-Aldrich Corp. His sale prices were between $134.03 and $137.25, with an estimated average price of $135.87.

Sold Out: Target Corp (TGT)

Tom Gayner (Trades, Portfolio) sold out his holdings in Target Corp. His sale prices were between $59.07 and $75.71, with an estimated average price of $67.55.

Sold Out: Laboratory Corp of America Hldgs (LH)

Tom Gayner (Trades, Portfolio) sold out his holdings in Laboratory Corp of America Hldgs. His sale prices were between $97.81 and $109.58, with an estimated average price of $102.65.

Added: Deere & Co (DE, Financial)

Tom Gayner (Trades, Portfolio) added to his holdings in Deere & Co by 54.26%. His purchase prices were between $80.01 and $90.85, with an estimated average price of $86.46. The impact to his portfolio due to this purchase was 0.67%. His holdings were 833,000 shares as of 12/31/2014.

Added: Unilever PLC (UL, Financial)

Tom Gayner (Trades, Portfolio) added to his holdings in Unilever PLC by 17.54%. His purchase prices were between $38.97 and $42.42, with an estimated average price of $40.79. The impact to his portfolio due to this purchase was 0.22%. His holdings were 1,407,000 shares as of 12/31/2014.

Added: Schlumberger NV (SLB, Financial)

Tom Gayner (Trades, Portfolio) added to his holdings in Schlumberger NV by 23.85%. His purchase prices were between $79.9 and $98.73, with an estimated average price of $91.89. The impact to his portfolio due to this purchase was 0.18%. His holdings were 405,000 shares as of 12/31/2014.

Added: Marsh & McLennan Companies Inc (MMC, Financial)

Tom Gayner (Trades, Portfolio) added to his holdings in Marsh & McLennan Companies Inc by 45.45%. His purchase prices were between $49.49 and $58.56, with an estimated average price of $54.87. The impact to his portfolio due to this purchase was 0.16%. His holdings were 336,000 shares as of 12/31/2014.

Added: Oaktree Capital Group LLC (OAK, Financial)

Tom Gayner (Trades, Portfolio) added to his holdings in Oaktree Capital Group LLC by 337.14%. His purchase prices were between $45.5 and $51.85, with an estimated average price of $48.22. The impact to his portfolio due to this purchase was 0.16%. His holdings were 153,000 shares as of 12/31/2014.

Added: Monsanto Co (MON, Financial)

Tom Gayner (Trades, Portfolio) added to his holdings in Monsanto Co by 82.69%. His purchase prices were between $105.91 and $122.67, with an estimated average price of $116.19. The impact to his portfolio due to this purchase was 0.14%. His holdings were 95,000 shares as of 12/31/2014.

Added: Copart Inc (CPRT, Financial)

Tom Gayner (Trades, Portfolio) added to his holdings in Copart Inc by 18.37%. His purchase prices were between $30.25 and $37.76, with an estimated average price of $34.31. The impact to his portfolio due to this purchase was 0.13%. His holdings were 844,000 shares as of 12/31/2014.

Added: BlackRock Inc (BLK, Financial)

Tom Gayner (Trades, Portfolio) added to his holdings in BlackRock Inc by 12.62%. His purchase prices were between $303.91 and $364.4, with an estimated average price of $341.73. The impact to his portfolio due to this purchase was 0.12%. His holdings were 116,000 shares as of 12/31/2014.

Added: Chubb Corp (CB, Financial)

Tom Gayner (Trades, Portfolio) added to his holdings in Chubb Corp by 18.3%. His purchase prices were between $91.41 and $105, with an estimated average price of $99.63. The impact to his portfolio due to this purchase was 0.11%. His holdings were 265,000 shares as of 12/31/2014.

Added: Aaron's Inc (AAN, Financial)

Tom Gayner (Trades, Portfolio) added to his holdings in Aaron's Inc by 31.37%. His purchase prices were between $23.27 and $31, with an estimated average price of $26.6. The impact to his portfolio due to this purchase was 0.05%. His holdings were 268,000 shares as of 12/31/2014.

Added: Core Laboratories NV (CLB, Financial)

Tom Gayner (Trades, Portfolio) added to his holdings in Core Laboratories NV by 150%. His purchase prices were between $110.04 and $145.93, with an estimated average price of $131.22. The impact to his portfolio due to this purchase was 0.05%. His holdings were 25,000 shares as of 12/31/2014.

Added: CME Group Inc (CME, Financial)

Tom Gayner (Trades, Portfolio) added to his holdings in CME Group Inc by 24.44%. His purchase prices were between $78.26 and $92.905, with an estimated average price of $84.78. The impact to his portfolio due to this purchase was 0.03%. His holdings were 56,000 shares as of 12/31/2014.

Added: Nicholas Financial Inc (NICK, Financial)

Tom Gayner (Trades, Portfolio) added to his holdings in Nicholas Financial Inc by 350%. His purchase prices were between $10.96 and $14.92, with an estimated average price of $12.34. The impact to his portfolio due to this purchase was 0.01%. His holdings were 45,000 shares as of 12/31/2014.

Added: Ritchie Bros Auctioneers Inc (RBA)

Tom Gayner (Trades, Portfolio) added to his holdings in Ritchie Bros Auctioneers Inc by 38%. His purchase prices were between $22.86 and $27.25, with an estimated average price of $24.79. The impact to his portfolio due to this purchase was 0.01%. His holdings were 69,000 shares as of 12/31/2014.

Reduced: Berkshire Hathaway Inc (BRK.A)

Tom Gayner (Trades, Portfolio) reduced to his holdings in Berkshire Hathaway Inc by 74.49%. His sale prices were between $202000 and $229300, with an estimated average price of $216635. The impact to his portfolio due to this sale was -4.69%. Tom Gayner (Trades, Portfolio) still held 275 shares as of 12/31/2014.

Reduced: Brown & Brown Inc (BRO)

Tom Gayner (Trades, Portfolio) reduced to his holdings in Brown & Brown Inc by 54.7%. His sale prices were between $31.22 and $33.26, with an estimated average price of $32.11. The impact to his portfolio due to this sale was -0.18%. Tom Gayner (Trades, Portfolio) still held 165,628 shares as of 12/31/2014.

Here is the complete portfolio of Tom Gayner. Also check out:

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