Thomas Gayner - Markel Asset Management
As of Q3 2026, Thomas Gayner reported 145 long-equity positions worth $12.84B in aggregate.
Copy-investor backtest
- Latest quarter
- -0.60%
- 1-year
- +11.38%
- 3-year
- +43.89%
- 5-year
- +41.20%
- 3-year vs S&P 500
- -25.24%
- 5-year vs S&P 500
- -29.59%
- 5-year top 5
- +41.82%
Return from mechanically copying the disclosed 13F equity portfolio after each filing and rebalancing at the next. The vs S&P 500 figures subtract SPY over that manager's own rebalance dates, so both sides cover the same days; both are price return, excluding dividends. Method & limitations.
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Sells
These are the positions the manager reduced or sold out of this quarter, showing where they pulled money back. The quarter shown is Q3 2026.
| Ticker | Security | Activity | % portfolio | Shares | Value | Reported price | Q range |
|---|---|---|---|---|---|---|---|
| BRO | BROWN & BROWN INC | Sold | — | 0 | $0 | — | - |
| XOM | EXXON MOBIL CORP | Sold | — | 0 | $0 | — | - |
| ABNB | AIRBNB INC | Reduce -69.7% | 0.09% | 73,355 | $11.78M | $160.65 | $135.72 - $193.45(43%)$147.31 -> $160.65 |
| META | META PLATFORMS INC | Reduce -10.7% | 1.18% | 209,163 | $151.68M | $725.18 | $524.49 - $779.82(79%)$612.91 -> $725.18 |
| GOOGL | ALPHABET INC | Reduce -9.1% | 1.39% | 519,975 | $178.91M | $344.08 | $314.90 - $384.48(42%)$361.21 -> $344.08 |
| YUM | YUM BRANDS INC | Reduce -42.1% | 0.15% | 142,059 | $19.37M | $136.34 | $134.26 - $170.14(6%)$161.59 -> $136.34 |
| DE | DEERE & CO | Reduce -1.9% | 4.50% | 861,150 | $578.31M | $671.55 | $576.45 - $721.22(66%)$627.63 -> $671.55 |
| CMCSA | COMCAST CORP NEW | Reduce -64.0% | 0.05% | 288,334 | $6.27M | $21.76 | $21.28 - $27.35(8%)$23.73 -> $21.76 |
| COST | COSTCO WHOLESALE CORPORATION | Reduce -13.8% | 0.24% | 33,748 | $30.72M | $910.34 | $883.10 - $987.55(26%)$924.67 -> $910.34 |
| BAM | BROOKFIELD ASSET MANAGMT LTD | Reduce -0.9% | 0.75% | 2,173,953 | $96.91M | $44.58 | $43.62 - $55.98(8%)$45.40 -> $44.58 |