Copy Invest | Sonar Terminal

Thomas Gayner - Markel Group

454 trades · 325 closed · 129 open · Win rate: 63.7% · Avg return: +87.6% · Median return: +16.8%

⚠ 1 of these positions have a value-scale error in the underlying SEC filing (an entry or exit price ≥25× off the rest of the holding), so their return is unreliable. They are marked data error below and excluded from the stats above, but their quarter-by-quarter filing history is still attached — open History on any row to see it exactly as filed.

Stock	Entry Quarter	Entry Price	Exit Quarter	Exit / Current Price	Return	Status	Filings
V - Visa Inc.	Q4 2010	$17.62	Open	$356.02	+1,920.26%	Open	History

MA - Mastercard Inc.	Q3 2011	$31.70	Open	$538.02	+1,597.22%	Open	History

MSCI - MSCI Inc.	Q4 2013	$43.80	Open	$611.43	+1,295.96%	Open	History

COST - Costco Wholesale Corp.	Q2 2008	$70.24	Open	$921.75	+1,212.29%	Open	History

CAT - Caterpillar Inc.	Q4 2007	$72.56	Open	$933.34	+1,186.30%	Open	History

HD - The Home Depot, Inc.	Q4 2007	$26.94	Open	$337.74	+1,153.67%	Open	History

MCO - Moody's Corp.	Q3 2012	$44.17	Open	$494.73	+1,020.06%	Open	History

AAPL - Apple Inc.	Q2 2015	$31.38	Open	$314.86	+903.54%	Open	History

GOOG - Alphabet Inc.	Q4 2015	$37.95	Open	$357.33	+841.71%	Open	History

GOOGL - Alphabet Inc.	Q4 2015	$38.90	Open	$359.51	+824.19%	Open	History

LOW - Lowe's Companies, Inc.	Q4 2007	$22.62	Open	$207.68	+818.13%	Open	History

HEI.A - Heico Cl A	Q2 2016	$27.52	Open	$249.70	+807.34%	Open	History

FIX - Comfort Systems USA, Inc.	Q4 2023	$205.67	Open	$1,775.10	+763.08%	Open	History

NVO - Novo Nordisk A/S	Q4 2009	$6.39	Open	$49.07	+668.52%	Open	History

AMZN - Amazon.com, Inc.	Q4 2015	$33.79	Open	$247.49	+632.44%	Open	History

BRK.A - Berkshire Hathaway CL A	Q3 2009	$101,000.00	Open	$737,000.00	+629.70%	Open	History

GS - The Goldman Sachs Group, Inc.	Q1 2016	$156.94	Open	$1,140.00	+626.39%	Open	History

ITIC - Investors Title Co.	Q4 2007	$38.39	Open	$278.72	+626.02%	Open	History

DE - Deere & Co.	Q3 2014	$81.99	Open	$584.40	+612.77%	Open	History

MSFT - Microsoft Corp.	Q4 2015	$55.47	Open	$384.93	+593.94%	Open	History

AXP - American Express Co.	Q4 2007	$52.02	Open	$355.06	+582.55%	Open	History

ADI - Analog Devices, Inc.	Q1 2016	$59.20	Open	$392.75	+563.43%	Open	History

META - Meta Platforms, Inc.	Q4 2015	$104.57	Open	$661.04	+532.15%	Open	History

BRK.B - Berkshire Hathaway CL B	Q1 2010	$81.27	Open	$491.09	+504.27%	Open	History

BX - Blackstone Inc.	Q2 2013	$21.06	Open	$124.56	+491.45%	Open	History

ECL - Ecolab Inc.	Q3 2011	$48.90	Open	$269.75	+451.64%	Open	History

SEIC - SEI Investments Co.	Q4 2011	$17.35	Open	$94.89	+446.92%	Open	History

TXN - Texas Instruments Inc.	Q1 2016	$57.42	Open	$305.55	+432.13%	Open	History

UNH - UnitedHealth Group Inc.	Q1 2013	$57.21	Q4 2019	$293.98	+413.86%	Closed	History

NSC - Norfolk Southern Corp.	Q3 2012	$63.64	Open	$326.83	+413.56%	Open	History

ITW - Illinois Tool Works Inc.	Q4 2007	$53.54	Open	$272.28	+408.55%	Open	History

JPM - JPMorgan Chase & Co.	Q2 2015	$67.76	Open	$342.89	+406.04%	Open	History

ROL - Rollins, Inc.	Q4 2013	$8.98	Open	$44.29	+393.33%	Open	History

SLG - SL Green Corp	Q1 2009	$11.47	Q4 2009	$53.34	+365.19%	Closed	History

SPGI - S&P Global Inc.	Q2 2016	$101.48	Open	$438.87	+332.49%	Open	History

RLI - RLI Corp.	Q4 2007	$14.20	Open	$60.14	+323.60%	Open	History

GD - General Dynamics Corp.	Q4 2007	$88.99	Open	$369.50	+315.22%	Open	History

CSCO - Cisco Systems, Inc.	Q1 2016	$28.48	Open	$117.09	+311.13%	Open	History

BLK - BlackRock, Inc.	Q2 2013	$256.81	Open	$1,025.44	+299.30%	Open	History

ADP - Automatic Data Processing, Inc.	Q3 2009	$34.50	Q1 2020	$136.68	+296.13%	Closed	History

SCHW - The Charles Schwab Corp.	Q4 2007	$25.55	Open	$101.10	+295.69%	Open	History

JNJ - Johnson & Johnson	Q4 2007	$66.70	Open	$253.85	+280.58%	Open	History

ROK - Rockwell Automation, Inc.	Q2 2015	$124.67	Open	$469.77	+276.81%	Open	History

PGR - The Progressive Corp.	Q1 2018	$60.93	Open	$226.58	+271.87%	Open	History

WSO - Watsco, Inc.	Q4 2014	$107.00	Open	$395.29	+269.43%	Open	History

UNP - Union Pacific Corp.	Q4 2015	$78.20	Open	$288.30	+268.67%	Open	History

ACN - Accenture plc	Q3 2009	$37.27	Open	$134.56	+261.04%	Open	History

MRSH - Marsh & McLennan Companies, Inc.	Q1 2014	$49.33	Open	$178.05	+260.94%	Open	History

AON - Aon plc	Q2 2015	$99.75	Open	$358.89	+259.79%	Open	History

PAYX - Paychex, Inc.	Q4 2009	$30.65	Open	$109.52	+257.32%	Open	History

KKR - KKR & Co. Inc.	Q3 2018	$27.27	Open	$97.21	+256.47%	Open	History

WRB - W. R. Berkley Corp.	Q2 2017	$20.48	Open	$71.98	+251.41%	Open	History

BNY - The Bank of New York Mellon Cor	Q2 2019	$44.15	Open	$154.50	+249.94%	Open	History

PM - Philip Morris International Inc.	Q1 2008	$50.58	Open	$175.95	+247.86%	Open	History

Y - Alleghany Corporation	Q3 2009	$259.07	Q1 2022	$847.04	+226.95%	Closed	History

AMAT - Applied Materials, Inc.	Q2 2025	$183.07	Open	$595.70	+225.39%	Open	History

CARR - Carrier Global Corp.	Q2 2020	$22.22	Open	$69.76	+213.95%	Open	History

HAS - Hasbro, Inc.	Q2 2012	$33.88	Q4 2019	$105.61	+211.72%	Closed	History

LAMR - Lamar Advertising Co.	Q1 2020	$51.29	Open	$157.23	+206.55%	Open	History

DIS - The Walt Disney Co.	Q1 2008	$31.38	Open	$95.87	+205.51%	Open	History

GHC - Graham Holdings Co.	Q4 2013	$400.85	Open	$1,178.12	+193.91%	Open	History

NKE - NIKE, Inc.	Q2 2008	$14.90	Open	$42.86	+187.65%	Open	History

MXIM - Maxim Integrated Products	Q1 2016	$36.80	Q2 2021	$105.36	+186.30%	Closed	History

CME - CME Group Inc.	Q2 2014	$70.96	Q2 2019	$194.11	+173.55%	Closed	History

FDS - FactSet Research Systems Inc.	Q1 2013	$92.59	Open	$252.61	+172.83%	Open	History

KMX - CarMax, Inc.	Q4 2007	$19.75	Q1 2020	$53.83	+172.56%	Closed	History

VRSK - Verisk Analytics, Inc.	Q1 2015	$71.44	Open	$190.54	+166.71%	Open	History

NVR - NVR, Inc.	Q4 2018	$2,436.36	Open	$6,378.80	+161.82%	Open	History

ADM - Archer-Daniels-Midland Co.	Q1 2012	$31.66	Open	$82.28	+159.89%	Open	History

SHW - The Sherwin-Williams Co.	Q4 2018	$131.15	Open	$328.50	+150.48%	Open	History

TWTR - Twitter Inc	Q1 2020	$24.59	Q3 2021	$60.38	+145.55%	Closed	History

URI - United Rentals, Inc.	Q3 2023	$444.57	Open	$1,065.83	+139.74%	Open	History

MAR - Marriott International, Inc.	Q4 2007	$31.86	Q1 2020	$74.81	+134.79%	Closed	History

CCK - Crown Holdings, Inc.	Q3 2018	$48.00	Open	$109.50	+128.13%	Open	History

RNR - RenaissanceRe Holdings Ltd.	Q3 2022	$140.50	Open	$319.92	+127.70%	Open	History

ALL - The Allstate Corp.	Q4 2020	$110.00	Open	$250.35	+127.59%	Open	History

EXP - Eagle Materials Inc.	Q3 2011	$16.64	Q2 2012	$37.33	+124.34%	Closed	History

ALB - Albemarle Corp.	Q1 2017	$105.67	Q4 2021	$233.78	+121.24%	Closed	History

COF - Capital One Financial Corp.	Q4 2022	$92.96	Open	$205.29	+120.84%	Open	History

CMG - Chipotle Mexican Grill, Inc.	Q1 2018	$6.46	Q1 2019	$14.21	+119.87%	Closed	History

MMM - 3M Co.	Q4 2007	$70.49	Q2 2025	$152.24	+115.96%	Closed	History

BF.A - Brown-Forman CL A	Q4 2007	$11.92	Open	$25.71	+115.62%	Open	History

SPOT - Spotify Technology S.A.	Q3 2021	$225.00	Open	$481.06	+113.80%	Open	History

LPX - Louisiana-Pacific Corp.	Q3 2011	$5.11	Q2 2012	$10.88	+112.92%	Closed	History

BUD - Anheuser-Busch InBev SA/NV	Q1 2010	$50.44	Q3 2015	$106.32	+110.79%	Closed	History

CG - The Carlyle Group Inc.	Q1 2020	$21.65	Open	$45.48	+110.07%	Open	History

LINEUR - Linde PLC	Q4 2018	$156.05	Q4 2022	$326.18	+109.02%	Closed	History

BN - Brookfield Corp.	Q4 2022	$20.97	Open	$43.66	+108.17%	Open	History

DHI - D.R. Horton, Inc.	Q2 2018	$40.93	Q3 2021	$83.93	+105.06%	Closed	History

AMT - American Tower Corp.	Q3 2016	$113.50	Q3 2024	$232.56	+104.90%	Closed	History

LII - Lennox International Inc.	Q3 2011	$25.78	Q4 2012	$52.52	+103.72%	Closed	History

BAX - Baxter International Inc.	Q3 2015	$32.80	Q1 2018	$65.05	+98.32%	Closed	History

HXL - Hexcel Corp.	Q4 2016	$51.42	Open	$101.88	+98.13%	Open	History

HEI - HEICO Corp.	Q3 2016	$35.50	Q1 2018	$69.47	+95.71%	Closed	History

9893105Q - Enterprise GP Holdings	Q2 2008	$30.08	Q3 2010	$58.72	+95.21%	Closed	History

COF - Capital One Financial Corp.	Q3 2011	$39.64	Q1 2014	$77.16	+94.65%	Closed	History

MCHP - Microchip Technology Inc.	Q3 2017	$44.88	Q4 2021	$87.06	+94.01%	Closed	History

APO - Apollo Global Management, Inc.	Q1 2022	$61.99	Open	$119.93	+93.47%	Open	History

BBSI - Barrett Business Systems	Q1 2012	$4.95	Q4 2012	$9.53	+92.33%	Closed	History

SBUX - Starbucks Corp.	Q4 2016	$55.50	Open	$106.17	+91.30%	Open	History

Entry/exit prices and returns are split-adjusted to today's share basis. The quarter-by-quarter history shows prices exactly as filed with the SEC, so a pre-split quarter's price will look higher than the split-adjusted entry above.