The portfolio of Markel Corporation (NYSE:MKL), the investment management firm headed by Tom Gayner showed that its equity investments was worth $2,916,799,000 based on its 13f filing with the Securities and Exchange Commission (SEC) for the third quarter that ended September 30, 2013.
Tom Gayner’s largest position
The investment management firm’s largest stockholdings for the third quarter include CarMax, Inc (NYSE:KMX), Berkshire Hathaway Inc. (NYSE:BRK.A) (NYSE:BRK.B), Diageo plc (NYSE:DEO) (LON:DGE) and Brookfield Asset Management Inc. (NYSE:BAM).
During the quarter, Markel Corporation (NYSE:MKL) owned 5,034,519 shares of CarMax Inc (NYSE:KMX) after reducing its stake by 74,752 shares. The stock is the number one holding of the firm representing 8.37% of its portfolio.
The firms owns 1,094 shares of Berkshire Hathaway Inc. (NYSE:BRK.A) and 1,531,357 shares of Berkshire Hathaway Inc. (NYSE:BRK.B), which account for 6.39% and 5.96% of its portfolio, respectively. During the period, Market Corp reduced 5 shares in the stock’s Class A and 18,338 shares in Class B. The total amount of its investment for the Class A was $186,429,000 and $173,825,000 for the Class B.
Markel Corporation (NYSE:MKL) holds 1,212,525 shares of Diageo plc (NYSE:DEO) (LON:DGE) worth $154,088,000, which represents 5.28% in its portfolio, and 3,165,536 shares of Brookfield Asset Management Inc. (NYSE:BAM) with a market value of $181,391,000 representing 4.06% of its portfolio.
Tom Gayner’s new stockholdings
The investment management firm’s new acquisitions during the period include 100,300 shares of Apollo Global Management LLC (NYSE:APO), 105,000 shares of Apollo Group Inc (NASDAQ:APOL), 10,000 shares of Copart, Inc. (NASDAQ:CPRT), 150,000 shares of The Mosaic Co (NYSE:MOS), and 70,000 shares of Potash Corp./Saskatchewan (NYSE:POT) (TSE:POT).
Markel Corp made the highest investment in The Mosaic Co (NYSE:MOS) among its new acquisitions. Its stake in the company has a market value of $6,453,000 followed by its investment in Apollo Global Management LLC (NYSE:APO), which costs $2,834,000.
Zacks Investment Research recently downgraded its rating for the shares of Mosaic to strong after reporting weak financial results for the third quarter. Its profit declined 70% to $124 million or $0.29 per share from $417 million or $0.98 per share. On the other hand, Apollo Global Management reported better-than-expected third quarter earnings. Its economic net income (ENI) was $1.34 per share higher than its ENI of $0.98 per share in the same period a year earlier.