Markel Corp just reported its first quarter portfolio. The
portfolio was managed by renowned value investor
Tom Gayner
. The equity portfolio of Markel Corp has outperformed the
S&P 500 in seven out of the last 10 years. Up to the end of
2011, it had a 10-year cumulative gain of 79%. In the same
period, the S&P500 gained 35%.
Tom Gayner
likes to buy high quality companies at reasonable prices. In
GuruFocus interview with Mr. Gayner
, he provided his great insight on how to invest in insurance
companies.
In the first quarter
Tom Gayner
was in buying mode. He bought into seven new positions, added to
12 exist positions. He sold out 3 only. It is worth noting that
Tom Gayner rarely sells stocks. As of 03/31/2012, Markel Gayner
Asset Management Corp owns 101 stocks with a total value of $2.2
billion. These are the details of the buys and sells.
- New Purchases:
CFX
,
ADM
,
ART
,
CRR
,
CLMS
,
BBSI
,
YUM
,
- Added Positions:
FII
,
WAG
,
BRK.A
,
L
,
TEVA
,
ORCL
,
COF
,
SLB
,
WU
,
DWA
,
EXPD
,
VOD
,
- Reduced Positions:
FNF
,
NSH
,
ITC
,
MCF
,
APD
,
- Sold Out:
ABT
,
PG
,
DST
,
These are the top 5 holdings of Tom Gayner
- Carmax Gp (Cc) (
KMX
) - 5,142,488 shares, 8.2% of the total portfolio. Shares
reduced by 0.94%
- Berkshire Hth-B (
BRK.B
) - 1,563,257 shares, 5.8% of the total portfolio. Shares
reduced by 0.77%
- Berkshire Hth-A (
BRK.A
) - 1,000 shares, 5.6% of the total portfolio. Shares added by
4.49%
- Diageo Plc-Adr (
DEO
) - 1,234,280 shares, 5.5% of the total portfolio. Shares
reduced by 1.03%
- Fairfax Fin Ltd (
FRFHF
) - 279,459 shares, 5.2% of the total portfolio.
He has CarMax and Berkshire Hathaway as his last holding. Fairfax
Financial, the company that Prem Watsa founded and operates, it
is his fourth largest holding.
These are his new positions:
New Purchase: Colfax Corp (
CFX
)
His purchase prices were between $28.25 and $36.15, with an
estimated average price of $30.93. The impact to his portfolio
due to this purchase was 1.8%. His holdings were 1,085,070 shares
as of 03/31/2012.
New Purchase: Archer Daniels (
ADM
)
His purchase prices were between $28.63 and $32.16, with an
estimated average price of $28.3. The impact to his portfolio due
to this purchase was 0.55%. His holdings were 376,000 shares as
of 03/31/2012.
New Purchase: Artio Globl Inv (
ART
)
His purchase prices were between $4.25 and $5.1, with an
estimated average price of $3.1. The impact to his portfolio due
to this purchase was 0.31%. His holdings were 1,408,600 shares as
of 03/31/2012.
New Purchase: Carbo Ceramics (
CRR
)
His purchase prices were between $85.94 and $133.99, with an
estimated average price of $96.81. The impact to his portfolio
due to this purchase was 0.21%. His holdings were 44,000 shares
as of 03/31/2012.
New Purchase: Calamos Asset-a (
CLMS
)
His purchase prices were between $11.77 and $13.26, with an
estimated average price of $11.69. The impact to his portfolio
due to this purchase was 0.02%. His holdings were 25,000 shares
as of 03/31/2012.
New Purchase: Yum! Brands Inc (
YUM
)
His purchase prices were between $58.57 and $71.44, with an
estimated average price of $61.13. The impact to his portfolio
due to this purchase was 0.01%. His holdings were 3,200 shares as
of 03/31/2012.
New Purchase: Barrett Bus (
BBSI
)
His purchase prices were between $16.14 and $20.31, with an
estimated average price of $17.24. The impact to his portfolio
due to this purchase was 0.01%. His holdings were 10,500 shares
as of 03/31/2012.
Here is the complete portfolio of Tom Gayner. Also check out the
Undervalued Stocks, Top Growth Companies, and High Yield stocks
of Tom Gayner.About GuruFocus: GuruFocus.com tracks the stocks
picks and portfolio holdings of the world's best investors. This
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And publishes daily articles tracking the latest moves of the
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.