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Equity Research Database
Institutional Investment Pitches
Explore thousands of hedge fund pitches, high-conviction equity research memos, and portfolio manager commentary extracted from quarterly letters.
Explore thousands of hedge fund pitches, high-conviction equity research memos, and portfolio manager commentary extracted from quarterly letters.
We have owned Markel for 14+ years, and the thesis is not complicated. There are few...
— Patrick Brennan
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Other investors who've written on Markel Group Inc.
Our top 12 holdings represent approximately 72.22% of the total portfolio and 86.6% of the equity weighting in the portfolio. The top 12...
The fund fully exited its position in Markel due to persistent underwriting underperformance and a perceived lack of urgency from management. Despite being a...
Markel operates a unique multi-engine compounding model combining profitable specialty insurance underwriting, an equity-focused investment float, and direct private company ownership through Markel Ventures. The manager highlights...
More institutional theses from Brennan Asset Management, LLC
Long-time client accounts have owned Berkshire Hathaway (BRK) for years, but we have not owned the iconic company across all accounts. Berkshire's sheer size...
We move from a name perceived by value investors as something close to Superman to one that many value investors would view as closer to Lex Luthor. We described our...
As for Meta Platforms Inc.’s (META) new "Muse" product, which might help negotiate lower cable prices, it is unclear how large its impact will be. Skepticism seems warranted....