Markel Corp’s CIO Tom Gayner is looking for silver medal winner, he is worrying about inflation. He likes WalMart because it sells the things people need. This is his Q3 portfolio update. Tom Gayner owns 77 stocks with a total value of $1.3 billion.
Tom Gayner buys Itc Holdings Corp., Patterson Companies Inc., Dentsply International Inc., Pool Corp., Heritagecrystal Clean Inc., sells Brookfield Infrastructure Partners L.p., Goldman Sachs Group Inc. The, The Progressive Corp., Yum! Brands Inc. during the 3-months ended 09/30/2009, 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 $1.3 billion. These are the details of the buys and sells.
This is the sector weightings of his portfolio:
These are the top 5 holdings of Tom Gayner
Walgreen Company has a market cap of $39.27 billion; its shares were traded at around $39.57 with a P/E ratio of 19.6 and P/S ratio of 0.6. The dividend yield of Walgreen Company stocks is 1.4%. Walgreen Company had an annual average earning growth of 15.1% over the past 10 years. GuruFocus rated Walgreen Company the business predictability rank of 5-star.
Schlumberger Ltd. has a market cap of $77.14 billion; its shares were traded at around $64.4 with a P/E ratio of 20.6 and P/S ratio of 2.9. The dividend yield of Schlumberger Ltd. stocks is 1.3%. Schlumberger Ltd. had an annual average earning growth of 58.5% over the past 5 years.
Abbott Laboratories is a global broad-based health care company devoted to discovering new medicines new technologies and new ways to manage health. Abbott products span the continuum of care from nutritional products and laboratory diagnostics through medical devices and pharmaceutical therapies. Abbott comprehensive line of products encircles life itself addressing important health needs from infancy to the golden years. Abbott Laboratories has a market cap of $79.66 billion; its shares were traded at around $51.53 with a P/E ratio of 14.3 and P/S ratio of 2.7. The dividend yield of Abbott Laboratories stocks is 3.1%. Abbott Laboratories had an annual average earning growth of 4.4% over the past 10 years. GuruFocus rated Abbott Laboratories the business predictability rank of 5-star.
Mcdonald's Corp. has a market cap of $67.36 billion; its shares were traded at around $61.72 with a P/E ratio of 16.2 and P/S ratio of 2.8. The dividend yield of Mcdonald's Corp. stocks is 3.2%. Mcdonald's Corp. had an annual average earning growth of 7.2% over the past 10 years.
Microsoft Corp. has a market cap of $254.63 billion; its shares were traded at around $28.52 with a P/E ratio of 17.6 and P/S ratio of 4.4. The dividend yield of Microsoft Corp. stocks is 1.9%. 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.
Costco Wholesale Corp. operates membership warehouses based on the concept that offering members very low prices on a limited selection of nationally branded and selected private label products in a wide range of merchandise categories will produce high sales volumes and rapid inventory turnover. This rapid inventory turnover enables Costco to operate profitably at significantly lower gross margins than traditional wholesalers discount retailers and supermarkets. Costco Wholesale Corp. has a market cap of $25.84 billion; its shares were traded at around $59.41 with a P/E ratio of 23.3 and P/S ratio of 0.4. The dividend yield of Costco Wholesale Corp. stocks is 1.3%. Costco Wholesale Corp. had an annual average earning growth of 8.3% over the past 10 years. GuruFocus rated Costco Wholesale Corp. the business predictability rank of 4.5-star.
ITC Holdings Corp. is in the business of electricity transmission infrastructure improvements as a means to improve electric reliability reduce congestion and lower the overall cost of delivered energy. Through ITC operating subsidiaries ITCTransmission and METC we are the only publicly traded company engaged exclusively in the transmission of electricity in the United States. We are also the largest independent electric transmission company and the eighth largest electric transmission company in the country based on transmission load served. Its business strategy is to operate maintain and invest in our transmission infrastructure in order to enhance system integrity and reliability and to reduce transmission constraints. By pursuing this strategy we seek to reduce the overall cost of delivered energy for end-use consumers by providing them with access to electricity from the lowest cost electricity generation sources. Itc Holdings Corp. has a market cap of $2.28 billion; its shares were traded at around $45.67 with a P/E ratio of 18.5 and P/S ratio of 3.7. The dividend yield of Itc Holdings Corp. stocks is 2.8%.
Patterson Companies Inc. is a value-added distributor serving the dental companion-pet veterinarian and rehabilitation supply markets. Patterson Companies Inc. has a market cap of $3.16 billion; its shares were traded at around $25.87 with a P/E ratio of 15.3 and P/S ratio of 1. Patterson Companies Inc. had an annual average earning growth of 20.3% over the past 10 years. GuruFocus rated Patterson Companies Inc. the business predictability rank of 5-star.
DENTSPLY International Inc. designs develops manufactures and markets products in two principal categories: dental consumable and laboratory products and dental equipment. Dental consumable and laboratory products include dental prosthetics endodontic instruments and materials impression materials restorative materials crown and bridge materials prophylaxis paste dental sealants cutting instruments dental needles dental anesthetics and orthodontic appliances. Dentsply International Inc. has a market cap of $4.98 billion; its shares were traded at around $33.5 with a P/E ratio of 18.5 and P/S ratio of 2.3. The dividend yield of Dentsply International Inc. stocks is 0.6%. Dentsply International Inc. had an annual average earning growth of 12% over the past 10 years. GuruFocus rated Dentsply International Inc. the business predictability rank of 3.5-star.
SCP Pool Corporation distributes swimming pool supplies and related products to swimming pool remodelers and builders independent retail stores and swimming pool repair and service companies. The company distributes more than 34000 national brand and private label products to its customers. These products include both non-discretionary pool maintenance products such as chemicals and replacement parts packaged pools (kits to build swimming pools which include walls liners bracing and other materials) and pool equipment such as cleaners and filters. Pool Corp. has a market cap of $981.8 million; its shares were traded at around $20.15 with a P/E ratio of 22.4 and P/S ratio of 0.5. The dividend yield of Pool Corp. stocks is 2.6%. Pool Corp. had an annual average earning growth of 26.3% over the past 10 years. GuruFocus rated Pool Corp. the business predictability rank of 4-star.
HERITAGE-CRYSTAL CLEAN LLC headquartered in Elgin Illinois is a privately-held marketing and sales Company that concentrates on servicing the automotive repair commercial and industrial marketplaces primarily in the Midwest and Eastern States. Heritagecrystal Clean Inc. has a market cap of $135.1 million; its shares were traded at around $12.63 with a P/E ratio of 45 and P/S ratio of 1.2.
Progressive Corp. is an auto insurance company and a writer of auto insurance through independent agents. Progressive is committed to providing independent agents with a financially strong company that offers competitive products designed specifically for the agency business; a strong national brand that drives consumers to independent agent's offices; 24-hour in-person services for them and their customers; and continued innovations in technology. (Company Press Release) The Progressive Corp. has a market cap of $10.93 billion; its shares were traded at around $16.13 with a P/E ratio of 11.9 and P/S ratio of 0.8. The Progressive Corp. had an annual average earning growth of 23.9% over the past 10 years.
BROOKFIELD INFRASTRUCTURE PARTNERS L.P. was established by Brookfield Asset Management as its primary vehicle to own and operate certain infrastructure assets on a global basis. Brookfield Infrastructure operates high quality long-life assets that generate stable cash flows require relatively minimal maintenance capital expenditures and by virtue of barriers to entry and other characteristics tend to appreciate in value over time. Its current business consists of the ownership and operation of premier electricity transmission systems and timberlands in North and South America and it seeks acquisition opportunities in other infrastructure sectors with similar attributes. Brookfield Infrastructure Partners L.p. has a market cap of $330.3 million; its shares were traded at around $14.69 with a P/E ratio of 14.9 and P/S ratio of 10.1. The dividend yield of Brookfield Infrastructure Partners L.p. stocks is 7.2%.
Goldman Sachs Group Inc. has a market cap of $87.82 billion; its shares were traded at around $171.78 with a P/E ratio of 20 and P/S ratio of 1.6. The dividend yield of Goldman Sachs Group Inc. The stocks is 0.8%. Goldman Sachs Group Inc. The had an annual average earning growth of 24.5% over the past 10 years.
Yum! Brands Inc. is the one of the world's largest restaurant companies with restaurants around the world in numerous countries and territories. Tricon's three brands KFC Pizza Hut and Taco Bell some of are the global leaders of the chicken pizza and Mexican restaurant categories respectively. Yum! Brands Inc. has a market cap of $16.44 billion; its shares were traded at around $35.23 with a P/E ratio of 16.5 and P/S ratio of 1.4. The dividend yield of Yum! Brands Inc. stocks is 2.3%. Yum! Brands Inc. had an annual average earning growth of 9.9% over the past 5 years.
Tom Gayner buys Itc Holdings Corp., Patterson Companies Inc., Dentsply International Inc., Pool Corp., Heritagecrystal Clean Inc., sells Brookfield Infrastructure Partners L.p., Goldman Sachs Group Inc. The, The Progressive Corp., Yum! Brands Inc. during the 3-months ended 09/30/2009, 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 $1.3 billion. These are the details of the buys and sells.
- New Purchases: HCCI, ITC, PDCO, POOL, XRAY,
- Added Positions: ABT, COST, MCD, MSFT, SLB, WAG,
- Sold Out: BIP, GS, PGR, YUM,
This is the sector weightings of his portfolio:
| Financials | 45.8% |
| Consumer Services | 24.4% |
| Industrials | 13.8% |
| Consumer Goods | 8.5% |
| Oil & Gas | 3.7% |
| Health Care | 2.7% |
| Technology | 1% |
| Utilities | 0.2% |
These are the top 5 holdings of Tom Gayner
- CarMax Inc. (KMX) - 5,332,406 shares, 8.31% of the total portfolio
- Berkshire Hathaway Inc. (BRK-B) - 31,418 shares, 7.78% of the total portfolio
- Fairfax Financial Holdings Ltd. (FFH) - 279,459 shares, 7.72% of the total portfolio
- Berkshire Hathaway Inc. (BRK-A) - 898 shares, 6.76% of the total portfolio
- DIAGEO Plc (DEO) - 1,257,358 shares, 5.76% of the total portfolio
Added: Walgreen Company (WAG, Financial)
Tom Gayner added to his holdings in Walgreen Company by 67.76%. His purchase prices were between $28.76 and $37.35, with an estimated average price of $31.76. The impact to his portfolio due to this purchase was 0.15%. His holdings were 127,260 shares as of 09/30/2009.Walgreen Company has a market cap of $39.27 billion; its shares were traded at around $39.57 with a P/E ratio of 19.6 and P/S ratio of 0.6. The dividend yield of Walgreen Company stocks is 1.4%. Walgreen Company had an annual average earning growth of 15.1% over the past 10 years. GuruFocus rated Walgreen Company the business predictability rank of 5-star.
Added: Schlumberger Ltd. (SLB, Financial)
Tom Gayner added to his holdings in Schlumberger Ltd. by 46.15%. His purchase prices were between $49.2 and $61.85, with an estimated average price of $55.56. The impact to his portfolio due to this purchase was 0.08%. His holdings were 57,000 shares as of 09/30/2009.Schlumberger Ltd. has a market cap of $77.14 billion; its shares were traded at around $64.4 with a P/E ratio of 20.6 and P/S ratio of 2.9. The dividend yield of Schlumberger Ltd. stocks is 1.3%. Schlumberger Ltd. had an annual average earning growth of 58.5% over the past 5 years.
Added: Abbott Laboratories (ABT, Financial)
Tom Gayner added to his holdings in Abbott Laboratories by 36.87%. His purchase prices were between $43.63 and $49.1, with an estimated average price of $45.55. The impact to his portfolio due to this purchase was 0.03%. His holdings were 29,700 shares as of 09/30/2009.Abbott Laboratories is a global broad-based health care company devoted to discovering new medicines new technologies and new ways to manage health. Abbott products span the continuum of care from nutritional products and laboratory diagnostics through medical devices and pharmaceutical therapies. Abbott comprehensive line of products encircles life itself addressing important health needs from infancy to the golden years. Abbott Laboratories has a market cap of $79.66 billion; its shares were traded at around $51.53 with a P/E ratio of 14.3 and P/S ratio of 2.7. The dividend yield of Abbott Laboratories stocks is 3.1%. Abbott Laboratories had an annual average earning growth of 4.4% over the past 10 years. GuruFocus rated Abbott Laboratories the business predictability rank of 5-star.
Added: Mcdonald's Corp. (MCD, Financial)
Tom Gayner added to his holdings in Mcdonald's Corp. by 24.1%. His purchase prices were between $54.23 and $58.82, with an estimated average price of $56.25. The impact to his portfolio due to this purchase was 0.03%. His holdings were 30,900 shares as of 09/30/2009.Mcdonald's Corp. has a market cap of $67.36 billion; its shares were traded at around $61.72 with a P/E ratio of 16.2 and P/S ratio of 2.8. The dividend yield of Mcdonald's Corp. stocks is 3.2%. Mcdonald's Corp. had an annual average earning growth of 7.2% over the past 10 years.
Added: Microsoft Corp. (MSFT, Financial)
Tom Gayner added to his holdings in Microsoft Corp. by 30.59%. His purchase prices were between $22.39 and $25.94, with an estimated average price of $24.17. The impact to his portfolio due to this purchase was 0.02%. His holdings were 42,690 shares as of 09/30/2009.Microsoft Corp. has a market cap of $254.63 billion; its shares were traded at around $28.52 with a P/E ratio of 17.6 and P/S ratio of 4.4. The dividend yield of Microsoft Corp. stocks is 1.9%. 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.
Added: Costco Wholesale Corp. (COST, Financial)
Tom Gayner added to his holdings in Costco Wholesale Corp. by 25.75%. His purchase prices were between $44.54 and $58.58, with an estimated average price of $50.65. The impact to his portfolio due to this purchase was 0.01%. His holdings were 14,650 shares as of 09/30/2009.Costco Wholesale Corp. operates membership warehouses based on the concept that offering members very low prices on a limited selection of nationally branded and selected private label products in a wide range of merchandise categories will produce high sales volumes and rapid inventory turnover. This rapid inventory turnover enables Costco to operate profitably at significantly lower gross margins than traditional wholesalers discount retailers and supermarkets. Costco Wholesale Corp. has a market cap of $25.84 billion; its shares were traded at around $59.41 with a P/E ratio of 23.3 and P/S ratio of 0.4. The dividend yield of Costco Wholesale Corp. stocks is 1.3%. Costco Wholesale Corp. had an annual average earning growth of 8.3% over the past 10 years. GuruFocus rated Costco Wholesale Corp. the business predictability rank of 4.5-star.
New Purchase: ITC Holdings Corp. (ITC, Financial)
Tom Gayner initiated holdings in Itc Holdings Corp.. His purchase prices were between $42.41 and $48.38, with an estimated average price of $46.02. The impact to his portfolio due to this purchase was 0.15%. His holdings were 43,000 shares as of 09/30/2009.ITC Holdings Corp. is in the business of electricity transmission infrastructure improvements as a means to improve electric reliability reduce congestion and lower the overall cost of delivered energy. Through ITC operating subsidiaries ITCTransmission and METC we are the only publicly traded company engaged exclusively in the transmission of electricity in the United States. We are also the largest independent electric transmission company and the eighth largest electric transmission company in the country based on transmission load served. Its business strategy is to operate maintain and invest in our transmission infrastructure in order to enhance system integrity and reliability and to reduce transmission constraints. By pursuing this strategy we seek to reduce the overall cost of delivered energy for end-use consumers by providing them with access to electricity from the lowest cost electricity generation sources. Itc Holdings Corp. has a market cap of $2.28 billion; its shares were traded at around $45.67 with a P/E ratio of 18.5 and P/S ratio of 3.7. The dividend yield of Itc Holdings Corp. stocks is 2.8%.
New Purchase: Patterson Companies Inc. (PDCO, Financial)
Tom Gayner initiated holdings in Patterson Companies Inc.. His purchase prices were between $21.01 and $28.01, with an estimated average price of $25.26. The impact to his portfolio due to this purchase was 0.1%. His holdings were 50,400 shares as of 09/30/2009.Patterson Companies Inc. is a value-added distributor serving the dental companion-pet veterinarian and rehabilitation supply markets. Patterson Companies Inc. has a market cap of $3.16 billion; its shares were traded at around $25.87 with a P/E ratio of 15.3 and P/S ratio of 1. Patterson Companies Inc. had an annual average earning growth of 20.3% over the past 10 years. GuruFocus rated Patterson Companies Inc. the business predictability rank of 5-star.
New Purchase: Dentsply International Inc. (XRAY, Financial)
Tom Gayner initiated holdings in Dentsply International Inc.. His purchase prices were between $28.02 and $34.85, with an estimated average price of $32.32. The impact to his portfolio due to this purchase was 0.08%. His holdings were 30,400 shares as of 09/30/2009.DENTSPLY International Inc. designs develops manufactures and markets products in two principal categories: dental consumable and laboratory products and dental equipment. Dental consumable and laboratory products include dental prosthetics endodontic instruments and materials impression materials restorative materials crown and bridge materials prophylaxis paste dental sealants cutting instruments dental needles dental anesthetics and orthodontic appliances. Dentsply International Inc. has a market cap of $4.98 billion; its shares were traded at around $33.5 with a P/E ratio of 18.5 and P/S ratio of 2.3. The dividend yield of Dentsply International Inc. stocks is 0.6%. Dentsply International Inc. had an annual average earning growth of 12% over the past 10 years. GuruFocus rated Dentsply International Inc. the business predictability rank of 3.5-star.
New Purchase: Pool Corp. (POOL, Financial)
Tom Gayner initiated holdings in Pool Corp.. His purchase prices were between $15.79 and $24.57, with an estimated average price of $21.72. The impact to his portfolio due to this purchase was 0.06%. His holdings were 35,000 shares as of 09/30/2009.SCP Pool Corporation distributes swimming pool supplies and related products to swimming pool remodelers and builders independent retail stores and swimming pool repair and service companies. The company distributes more than 34000 national brand and private label products to its customers. These products include both non-discretionary pool maintenance products such as chemicals and replacement parts packaged pools (kits to build swimming pools which include walls liners bracing and other materials) and pool equipment such as cleaners and filters. Pool Corp. has a market cap of $981.8 million; its shares were traded at around $20.15 with a P/E ratio of 22.4 and P/S ratio of 0.5. The dividend yield of Pool Corp. stocks is 2.6%. Pool Corp. had an annual average earning growth of 26.3% over the past 10 years. GuruFocus rated Pool Corp. the business predictability rank of 4-star.
New Purchase: Heritagecrystal Clean Inc. (HCCI, Financial)
Tom Gayner initiated holdings in Heritagecrystal Clean Inc.. His purchase prices were between $11.2 and $13.57, with an estimated average price of $12.47. The impact to his portfolio due to this purchase was 0.02%. His holdings were 23,200 shares as of 09/30/2009.HERITAGE-CRYSTAL CLEAN LLC headquartered in Elgin Illinois is a privately-held marketing and sales Company that concentrates on servicing the automotive repair commercial and industrial marketplaces primarily in the Midwest and Eastern States. Heritagecrystal Clean Inc. has a market cap of $135.1 million; its shares were traded at around $12.63 with a P/E ratio of 45 and P/S ratio of 1.2.
Sold Out: The Progressive Corp. (PGR)
Tom Gayner sold out his holdings in The Progressive Corp.. His sale prices were between $14.32 and $17.16, with an estimated average price of $16.Progressive Corp. is an auto insurance company and a writer of auto insurance through independent agents. Progressive is committed to providing independent agents with a financially strong company that offers competitive products designed specifically for the agency business; a strong national brand that drives consumers to independent agent's offices; 24-hour in-person services for them and their customers; and continued innovations in technology. (Company Press Release) The Progressive Corp. has a market cap of $10.93 billion; its shares were traded at around $16.13 with a P/E ratio of 11.9 and P/S ratio of 0.8. The Progressive Corp. had an annual average earning growth of 23.9% over the past 10 years.
Sold Out: Brookfield Infrastructure Partners L.p. (BIP)
Tom Gayner sold out his holdings in Brookfield Infrastructure Partners L.p.. His sale prices were between $11.56 and $18.31, with an estimated average price of $14.27.BROOKFIELD INFRASTRUCTURE PARTNERS L.P. was established by Brookfield Asset Management as its primary vehicle to own and operate certain infrastructure assets on a global basis. Brookfield Infrastructure operates high quality long-life assets that generate stable cash flows require relatively minimal maintenance capital expenditures and by virtue of barriers to entry and other characteristics tend to appreciate in value over time. Its current business consists of the ownership and operation of premier electricity transmission systems and timberlands in North and South America and it seeks acquisition opportunities in other infrastructure sectors with similar attributes. Brookfield Infrastructure Partners L.p. has a market cap of $330.3 million; its shares were traded at around $14.69 with a P/E ratio of 14.9 and P/S ratio of 10.1. The dividend yield of Brookfield Infrastructure Partners L.p. stocks is 7.2%.
Sold Out: Goldman Sachs Group Inc. The (GS)
Tom Gayner sold out his holdings in Goldman Sachs Group Inc. The. His sale prices were between $138.55 and $185.52, with an estimated average price of $163.8.Goldman Sachs Group Inc. has a market cap of $87.82 billion; its shares were traded at around $171.78 with a P/E ratio of 20 and P/S ratio of 1.6. The dividend yield of Goldman Sachs Group Inc. The stocks is 0.8%. Goldman Sachs Group Inc. The had an annual average earning growth of 24.5% over the past 10 years.
Sold Out: Yum! Brands Inc. (YUM)
Tom Gayner sold out his holdings in Yum! Brands Inc.. His sale prices were between $32.5 and $36.56, with an estimated average price of $34.5.Yum! Brands Inc. is the one of the world's largest restaurant companies with restaurants around the world in numerous countries and territories. Tricon's three brands KFC Pizza Hut and Taco Bell some of are the global leaders of the chicken pizza and Mexican restaurant categories respectively. Yum! Brands Inc. has a market cap of $16.44 billion; its shares were traded at around $35.23 with a P/E ratio of 16.5 and P/S ratio of 1.4. The dividend yield of Yum! Brands Inc. stocks is 2.3%. Yum! Brands Inc. had an annual average earning growth of 9.9% over the past 5 years.
