Is it a Good Move to Trim Your Markel Corp. (MKL) Stake?

Weitz Investment Management, an investment management firm, published its “Hickory Fund” second quarter 2022 investor letter – a copy of which can be downloaded here. The Hickory Fund returned -13.06% in the second quarter compared to -16.85% for the Russell Midcap Index. Year-to-date, the Fund returned -24.49% compared to -21.57% for the Russell Midcap as of June 30, 2022. Go over the fund’s top 5 positions to have a glimpse of its finest picks for 2022.

In its Q2 2022 investor letter, Weitz Investment Partners Value Fund mentioned Markel Corporation (NYSE:MKL) and explained its insights for the company. Founded in 1930, Markel Corporation (NYSE:MKL) is a Glen Allen, Virginia-based insurance company with a $16.8 billion market capitalization. Markel Corporation (NYSE:MKL) delivered a 1.24% return since the beginning of the year, while its 12-month returns are down by -1.55%. The stock closed at $1,249.25 per share on August 19, 2022.

Here is what Weitz Investment Partners Value Fund has to say about Markel Corporation (NYSE:MKL) in its Q2 2022 investor letter:

“In our estimation, the table’s composition is less a function of company results and more a result of sizing within our portfolios. Despite potential near-term uncertainty, we remain confident in these businesses’ quality and potential for future gains. We continued trimming Markel on strength. Markel‘s (NYSE:MKL) modest positive return was our only positive contributor for the first half of 2022.”

Pixabay/Public Domain

Our calculations show that Markel Corporation (NYSE:MKL) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Markel Corporation (NYSE:MKL) was in 29 hedge fund portfolios at the end of the second quarter of 2022, compared to 37 funds in the previous quarter. Markel Corporation (NYSE:MKL) delivered a -6.29% return in the past 3 months.

In June 2022, we also shared another hedge fund’s views on Markel Corporation (NYSE:MKL) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q2 page.

Disclosure: None. This article is originally published at Insider Monkey.