Tom Gayner’s Markel Gayner Asset Management Portfolio: Top 5 Finance Stocks

4. Blackstone Inc. (NYSE:BX)

Markel Gayner Asset Management’s Stake Value: $142,982,000

Percentage of Markel Gayner Asset Management’s 13F Portfolio: 1.80%

Number of Hedge Fund Holders: 54

Blackstone Inc. (NYSE:BX) is an American financial services company focused on alternative investment management and private equity. Headquartered in New York, Blackstone Inc. (NYSE:BX) was originally established as a mergers and acquisitions company in 1985, before it expanded into other financial services. Blackstone Inc. (NYSE:BX) is one of the top finance stocks in Tom Gayner’s Q2 portfolio, with Markel Gayner Asset Management owning 1.22 million shares in Blackstone Inc. (NYSE:BX), worth $142.9 million, representing 1.80% of the firm’s Q2 portfolio. 

Earnings for the third quarter were posted on October 21 by Blackstone Inc. (NYSE:BX). EPS for the period totaled $1.28, beating estimates by $0.36. Revenue for the quarter came in at $3.04 billion, exceeding estimated revenue by $872.27 million. 

BofA analyst Craig Siegenthaler, on November 4, kept a Buy rating on Blackstone Inc. (NYSE:BX), with a $182 price target. The analyst stated that the retail channel will allow Blackstone Inc. (NYSE:BX) to achieve tremendous earnings growth. 

As of the second quarter of 2021, 54 hedge funds were long Blackstone Inc. (NYSE:BX), compared to 49 in the preceding quarter. 

Here is what Artisan Partners has to say about Blackstone Inc. (NYSE:BX) in its Q2 2021 investor letter:

“Top contributors included The Blackstone Group. Investment stalwart Blackstone Group’s virtuous cycle is in full swing. Throughout Blackstone’s history, excellent investment performance and capital protection have allowed the firm to increase fundraising in existing verticals as well as launch new endeavors. Historically, less than 10% of assets under management matures in any given year, and that number should move lower with continued growth in perpetual capital vehicles. Blackstone’s A+ rated balance sheet and capital-light model are the backbone of its 85% of cash flow distribution policy via a variable quarterly dividend.”