Q2 2026 · SEC CIK 0001096343

Thomas Gayner portfolio

SuperinvestorInsurance companyMarkel Group Inc. filed on 2026-07-31. Open SEC filings ↗

Reported 13F value: $13.1B
Reported positions: 130
Eligible equities: 128
Holdings vs S&P 500, 3 years: -6.4 pts

Average holding period of the top positions: 10.0 yrs. Holdings vs the S&P 500 over 1 and 5 years: -9.3 pts, -3.9 pts.

In its Q2 2026 13F, filed 2026-07-31, Markel Group Inc. reported 130 positions worth $13.1B. Its largest holdings were ALPHABET INC (GOOG, 7.4%), BERKSHIRE HATHAWAY INC DEL (BRK-A, 6.4%), BERKSHIRE HATHAWAY INC DEL (BRK-B, 5.8%). Over the last 3 years its top holdings ran 6.4 points a year behind the S&P 500.

Reported holdings in the Q2 2026 13F.

The portfolio weight uses the full reported share-portfolio denominator. Weight changes compare this 13F with the one before it; price moves also change weights, so these are not trade labels. “New” means the position was not in the previous 13F at all; “—” marks a small position the earlier filing data does not cover.

Thomas Gayner eligible holdings
Stock	% of reported portfolio	Prior quarter	Weight change	Reported shares	Reported value
GOOGALPHABET INC	7.4%	6.6%	+0.79 pp	2,749,860	$971.6M
BRK-ABERKSHIRE HATHAWAY INC DEL	6.4%	6.7%	-0.35 pp	1,114	$834.2M
BRK-BBERKSHIRE HATHAWAY INC DEL	5.8%	6.1%	-0.31 pp	1,531,971	$766.6M
DEDEERE & CO	4.2%	4.1%	+0.10 pp	877,900	$556.9M
BNBROOKFIELD CORP	4.2%	4.4%	-0.19 pp	13,073,609	$556.8M
AMZNAMAZON COM INC	3.7%	3.5%	+0.14 pp	2,030,760	$484.0M
ADIANALOG DEVICES INC	3.0%	2.7%	+0.30 pp	999,671	$397.0M
GSGOLDMAN SACHS GROUP INC	2.8%	2.5%	+0.22 pp	359,360	$363.4M
AAPLAPPLE INC	2.7%	2.6%	+0.10 pp	1,227,290	$355.1M
CATCATERPILLAR INC	2.7%	1.9%	+0.72 pp	328,650	$350.0M
VVISA INC	2.6%	2.5%	+0.11 pp	1,013,912	$347.9M
HDHOME DEPOT INC	2.5%	2.5%	-0.06 pp	922,500	$325.3M
WSOWATSCO INC	1.9%	1.8%	+0.12 pp	597,750	$249.1M
TXNTEXAS INSTRS INC	1.6%	1.2%	+0.47 pp	724,000	$215.8M
BLKBLACKROCK INC	1.6%	1.8%	-0.16 pp	220,200	$211.7M
GOOGLALPHABET INC	1.6%	1.4%	+0.18 pp	572,000	$204.4M
MSFTMICROSOFT CORP	1.5%	1.7%	-0.14 pp	537,630	$200.5M
DISDISNEY WALT CO	1.5%	1.6%	-0.15 pp	2,031,665	$195.5M
AXPAMERICAN EXPRESS CO	1.3%	1.2%	+0.02 pp	490,450	$165.9M
LOWLOWES COS INC	1.3%	1.5%	-0.20 pp	751,980	$165.8M
PGRPROGRESSIVE CORP	1.3%	1.3%	+0.00 pp	753,750	$164.7M
FNVFRANCO NEV CORP	1.2%	1.5%	-0.24 pp	773,500	$161.2M
LPLALPL FINL HLDGS INC	1.2%	1.4%	-0.21 pp	559,951	$157.7M
JNJJOHNSON & JOHNSON	1.2%	1.3%	-0.07 pp	610,800	$155.1M
BXBLACKSTONE INC	1.1%	1.2%	-0.08 pp	1,229,000	$144.6M
RLIRLI CORP	1.1%	1.1%	-0.07 pp	2,394,544	$141.4M
GDGENERAL DYNAMICS CORP	1.1%	1.1%	-0.07 pp	391,000	$138.5M
NVONOVO-NORDISK A S	1.0%	0.9%	+0.17 pp	2,869,774	$137.6M
KKRKKR & CO INC	1.0%	1.1%	-0.11 pp	1,451,800	$133.2M
METAMETA PLATFORMS INC	1.0%	1.2%	-0.19 pp	234,163	$131.9M
SCHWSCHWAB CHARLES CORP	1.0%	1.1%	-0.11 pp	1,394,800	$128.7M
MRSHMARSH & MCLENNAN COS INC	1.0%	1.1%	-0.14 pp	763,500	$127.3M
APOAPOLLO GLOBAL MGMT INC	0.9%	0.9%	-0.03 pp	1,012,500	$119.8M
ADMARCHER DANIELS MIDLAND CO	0.9%	0.9%	-0.04 pp	1,505,800	$115.0M
LINLINDE PLC	0.9%	0.8%	+0.00 pp	215,600	$111.9M
DEODIAGEO PLC	0.8%	0.9%	-0.02 pp	1,372,208	$110.3M
MAMASTERCARD INCORPORATED	0.8%	0.9%	-0.06 pp	207,540	$106.6M
DGDOLLAR GEN CORP	0.8%	0.9%	-0.10 pp	869,250	$100.1M
BAMBROOKFIELD ASSET MANAGMT LTD	0.7%	0.8%	-0.07 pp	2,193,953	$98.4M
HEI-AHEICO CORP NEW	0.7%	0.7%	+0.07 pp	379,644	$97.9M
MCOMOODYS CORP	0.7%	0.8%	-0.04 pp	213,890	$96.9M
ODFLOLD DOMINION FREIGHT LINE IN	0.7%	0.7%	+0.01 pp	429,150	$93.0M
NSCNORFOLK SOUTHN CORP	0.7%	0.7%	-0.00 pp	282,500	$88.9M
ITWILLINOIS TOOL WKS INC	0.7%	0.7%	-0.04 pp	327,500	$88.6M
JPMJPMORGAN CHASE & CO	0.6%	0.6%	+0.01 pp	252,550	$82.7M
NVRNVR INC	0.6%	0.7%	-0.04 pp	12,097	$82.4M
MSCIMSCI INC	0.6%	0.6%	-0.04 pp	142,850	$80.0M
ROKROCKWELL AUTOMATION INC	0.6%	0.5%	+0.12 pp	154,900	$76.7M
ECLECOLAB INC	0.6%	0.6%	-0.03 pp	274,300	$76.4M
SUNBSUNBELT RENTALS HOLDINGS INC	0.6%	0.5%	+0.03 pp	974,361	$72.9M
SBUXSTARBUCKS CORP	0.5%	0.5%	+0.02 pp	623,818	$63.7M
ROLROLLINS INC	0.5%	0.7%	-0.19 pp	1,516,525	$63.3M
THGHANOVER INS GROUP INC	0.5%	0.4%	+0.05 pp	281,000	$60.2M
ITICINVESTORS TITLE CO NC	0.4%	0.4%	+0.06 pp	213,300	$58.4M
CGCARLYLE GROUP INC	0.4%	0.5%	-0.11 pp	1,327,000	$55.9M
TSNTYSON FOODS INC	0.4%	0.5%	-0.08 pp	913,500	$52.3M
SPGIS&P GLOBAL INC	0.4%	0.4%	-0.05 pp	117,690	$47.9M
AONAON PLC	0.3%	0.4%	-0.02 pp	135,800	$45.0M
UNPUNION PAC CORP	0.3%	0.3%	+0.03 pp	161,028	$43.8M
FERGFERGUSON ENTERPRISES INC	0.3%	0.3%	-0.01 pp	180,200	$42.8M
RTXRTX CORPORATION	0.3%	0.4%	-0.04 pp	224,000	$42.5M
CSCOCISCO SYS INC	0.3%	0.2%	+0.09 pp	355,500	$41.8M
MELIMERCADOLIBRE INC	0.3%	0.1%	+0.23 pp	24,000	$40.7M
YUMYUM BRANDS INC	0.3%	0.3%	-0.02 pp	245,213	$39.2M
MARMARRIOTT INTL INC NEW	0.3%	0.3%	+0.02 pp	99,500	$36.9M
ALLALLSTATE CORP	0.3%	0.3%	+0.01 pp	154,550	$36.8M
TMOTHERMO FISHER SCIENTIFIC INC	0.3%	0.3%	+0.00 pp	73,100	$36.6M
COSTCOSTCO WHOLESALE CORPORATION	0.3%	0.3%	-0.05 pp	39,150	$36.6M
HGTYHAGERTY INC	0.3%	0.3%	-0.00 pp	3,108,000	$35.9M
TROWPRICE T ROWE GROUP INC	0.3%	0.2%	+0.04 pp	314,000	$35.7M
URIUNITED RENTALS INC	0.3%	0.2%	+0.08 pp	31,150	$35.3M
ABNBAIRBNB INC	0.3%	0.3%	+0.01 pp	242,389	$34.7M
LMTLOCKHEED MARTIN CORP	0.3%	0.3%	-0.08 pp	65,213	$33.2M
HCAHCA HEALTHCARE INC	0.3%	0.3%	-0.08 pp	84,366	$32.9M
SHWSHERWIN WILLIAMS CO	0.2%	0.3%	-0.01 pp	94,172	$32.4M
FDSFACTSET RESH SYS INC	0.2%	0.2%	-0.01 pp	135,376	$31.1M
LAMRLAMAR ADVERTISING CO	0.2%	0.2%	+0.02 pp	193,000	$30.1M
VRSKVERISK ANALYTICS INC	0.2%	0.2%	-0.04 pp	155,950	$28.0M
CSXCSX CORP	0.2%	0.2%	+0.03 pp	584,500	$27.8M
AMATAPPLIED MATLS INC	0.2%	0.1%	+0.10 pp	36,350	$26.3M
APDAIR PRODUCTS AND CHEMICALS I	0.2%	0.2%	+0.01 pp	88,500	$25.9M
FIXCOMFORT SYS USA INC	0.2%	0.1%	+0.05 pp	13,000	$25.8M
CCKCROWN HLDGS INC	0.2%	0.2%	+0.00 pp	220,000	$24.6M
BF-ABROWN FORMAN CORP	0.2%	0.2%	-0.01 pp	843,000	$23.1M
RNRRENAISSANCERE HLDGS LTD	0.2%	0.2%	-0.00 pp	70,000	$22.2M
EPDENTERPRISE PRODS PARTNERS L	0.2%	0.1%	+0.10 pp	569,000	$20.9M
PMPHILIP MORRIS INTL INC	0.2%	0.2%	-0.00 pp	114,500	$20.7M
ACNACCENTURE PLC IRELAND	0.2%	0.3%	-0.11 pp	159,400	$19.8M
CMCSACOMCAST CORP NEW	0.1%	0.2%	-0.08 pp	802,074	$19.7M
HXLHEXCEL CORP NEW	0.1%	0.1%	+0.02 pp	189,000	$18.9M
NKENIKE INC	0.1%	0.2%	-0.06 pp	447,400	$18.4M
COFCAPITAL ONE FINL CORP	0.1%	0.1%	+0.00 pp	91,000	$18.3M
CARRCARRIER GLOBAL CORPORATION	0.1%	0.1%	+0.02 pp	235,000	$17.2M
WFCWELLS FARGO & CO	0.1%	0.1%	-0.01 pp	204,450	$16.9M
SEICSEI INVTS CO	0.1%	0.1%	+0.00 pp	173,200	$15.2M
PAYXPAYCHEX INC	0.1%	0.1%	-0.00 pp	150,000	$14.7M
HSYHERSHEY CO	0.1%	0.1%	-0.03 pp	75,000	$13.2M
PEPPEPSICO INC	0.1%	0.1%	-0.03 pp	96,210	$13.0M
BF-BBROWN FORMAN CORP	0.1%	0.1%	-0.01 pp	474,187	$12.6M
SPOTSPOTIFY TECHNOLOGY S A	0.1%	0.1%	-0.01 pp	25,900	$11.9M
SHOPSHOPIFY INC	0.1%	0.1%	-0.01 pp	102,750	$11.7M
EFXEQUIFAX INC	0.1%	0.1%	-0.02 pp	72,850	$11.6M
CMECME GROUP INC	0.1%	0.1%	-0.04 pp	49,750	$11.0M
CBOECBOE GLOBAL MKTS INC	0.1%	0.1%	-0.02 pp	43,700	$10.6M
UBERUBER TECHNOLOGIES INC	0.1%	0.1%	-0.01 pp	142,500	$10.3M
OTISOTIS WORLDWIDE CORP	0.1%	0.1%	-0.00 pp	133,620	$9.6M
IQVIQVIA HLDGS INC	0.1%	0.1%	+0.00 pp	46,900	$9.1M
HIIHUNTINGTON INGALLS INDS INC	0.1%	0.1%	-0.03 pp	27,500	$7.7M
NSPINSPERITY INC	0.1%	0.0%	+0.02 pp	181,336	$7.5M
KMXCARMAX INC	0.1%	0.0%	+0.01 pp	136,500	$7.2M
SONYSONY GROUP CORP	0.1%	0.1%	-0.01 pp	335,000	$6.7M
CNICANADIAN NATL RY CO	0.0%	0.0%	+0.00 pp	53,500	$6.4M
CPCANADIAN PACIFIC KANSAS CITY	0.0%	0.0%	+0.01 pp	73,000	$6.3M
GHCGRAHAM HLDGS CO	0.0%	0.0%	-0.00 pp	5,200	$5.9M
EMNEASTMAN CHEM CO	0.0%	0.0%	-0.01 pp	74,950	$5.0M
ZTSZOETIS INC	0.0%	—	—	66,195	$4.8M
BCBRUNSWICK CORP	0.0%	0.0%	+0.00 pp	51,250	$4.3M
WRBBERKLEY W R CORP	0.0%	0.0%	-0.00 pp	60,750	$4.3M
MGMMGM RESORTS INTERNATIONAL	0.0%	0.0%	+0.01 pp	87,500	$4.2M
AYIACUITY INC	0.0%	0.0%	+0.01 pp	9,750	$3.7M
ICEINTERCONTINENTAL EXCHANGE IN	0.0%	0.0%	-0.01 pp	28,870	$3.6M
EXPEAGLE MATLS INC	0.0%	0.0%	+0.00 pp	14,750	$3.3M
WYWEYERHAEUSER CO	0.0%	0.0%	+0.02 pp	120,000	$2.9M
NFLXNETFLIX INC.	0.0%	—	—	40,000	$2.9M
SYYSYSCO CORP	0.0%	0.0%	+0.00 pp	30,500	$2.5M
DPZDOMINOS PIZZA INC	0.0%	0.0%	-0.01 pp	5,500	$1.6M
BROBROWN & BROWN INC	0.0%	0.0%	-0.00 pp	14,000	$898K
UFPIUFP INDUSTRIES INC	0.0%	—	—	4,000	$363K

What Thomas Gayner bought and sold in Q2 2026, against Q1 2026.

New positions

Q1 2026's filing was too long to tell new positions apart.

Share counts compared with the Q1 2026 13F; a split also changes share counts. The latest filing lists more than 50 positions, so a position that left the top 50 may still be held.

How the holdings did against the S&P 500.

1 year: +9.8% /yr; S&P 500 +20.1%
3 years: +13.2% /yr; S&P 500 +20.4%
5 years: +7.4% /yr; S&P 500 +11.6%

A portfolio of the filer's 20 largest 13F positions, weighted by value, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Questions about Thomas Gayner's portfolio

What stocks does Thomas Gayner own?

Markel Group Inc.'s latest 13F, for Q2 2026 and filed Jul 31, 2026, lists 130 positions worth $13.1B. The largest are Alphabet Inc (GOOG) at 7.4%, Berkshire Hathaway Inc Del (BRK-A) at 6.4%, Berkshire Hathaway Inc Del (BRK-B) at 5.8%, Deere & Co (DE) at 4.2% and Brookfield Corp (BN) at 4.2%.

What did Thomas Gayner buy last quarter?

In Q2 2026, Markel Group Inc. added Franco Nev Corp (FNV) (+9.2% shares) and Linde PLC (LIN) (+5.4% shares), compared with its Q1 2026 filing.

What did Thomas Gayner sell last quarter?

In Q2 2026, Markel Group Inc. cut from its top 50 Rollins Inc (ROL), cut from its top 50 Carlyle Group Inc (CG) and Meta Platforms Inc (META) (-5.7% shares), compared with its Q1 2026 filing.

How has Thomas Gayner's portfolio performed?

A portfolio copying Markel Group Inc.'s 20 largest 13F holdings each quarter, from the day each filing was public, returned +13.2% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +9.8% against +20.1%. Over 5 years: +7.4% a year against +11.6%.

When is Markel Group Inc.'s next 13F filing due?

13F filings are due 45 days after each quarter ends. Markel Group Inc.'s filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.