Markel Group Inc.

Superinvestor · Thomas Gayner

CIK

1096343

Location

Glen Allen, VA

Portfolio Value

Large $11,215,262,620

Diversification

Diversified

Reports for

Markel-Gayner Asset Management LLC

Filing Date

Global Rank

#445 / 8,618 ▼ 61

Top Industry

Asset Management 12.2%

3Y Alpha vs SPY

-3.4%

Period ended 50 days ago

Filed Jul 31, 2026 · 19d

26 quarters · since Mar 2020

Clone Performance

Aug 2023–Aug 2026 · vs SPY

Hypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.

Cloned portfolio

+59.2%

SPY

+75.8%

Annualised alpha

-3.9%

Max drawdown

−16.1%

Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. Returns use comparable raw closes and exclude dividends; a captured split can shorten the simulated window. It tracks 100% of reported value on average across 13 quarters. Past performance does not predict future results.

Portfolio Concentration

126 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

6.8%

−6.0 pts

Top 5

24.6%

−8.3 pts

Top 10

40.2%

−5.8 pts

HHI

239

Diversified−125

Portfolio Trend

26 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Financial Services	40.3%	$4,523,217,089	38
Industrials	18.6%	$2,088,352,600	27
Consumer Cyclical	12.5%	$1,396,443,346	16
Technology	11.6%	$1,299,875,596	11
Communication Services	5.0%	$566,303,454	6
Consumer Defensive	4.3%	$486,835,538	10
Basic Materials	3.7%	$416,608,121	8
Healthcare	3.4%	$376,063,504	6
Real Estate	0.3%	$32,976,940	2
Energy	0.3%	$28,586,432	2

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

24 positions

Ticker	Company	Δ Shares	Shares	Value
EPD	Enterprise Products Partners L.P.	+367,000	569,000	$20,916,440
WY	Weyerhaeuser Co	+102,500	120,000	$2,872,800
FNV	FRANCO NEVADA Corp	+65,000	773,500	$161,228,340
CSX	Csx Corp	+54,500	584,500	$27,781,285
TSN	Tyson Foods, Inc.	+24,000	913,500	$52,297,875
OTIS	Otis Worldwide Corp	+19,000	133,620	$9,567,192
MELI	Mercadolibre Inc	+18,550	24,000	$40,737,360
ROL	Rollins Inc	+18,500	1,516,525	$63,299,753
WSO	Watsco Inc	+15,581	597,750	$249,100,357
LOW	Lowes Companies Inc	+13,500	751,980	$165,804,069
CP	Canadian Pacific Kansas City Ltd/Cn	+13,500	73,000	$6,325,450
APD	Air Products & Chemicals, Inc.	+13,000	88,500	$25,946,430
SCHW	Schwab Charles Corp	+11,000	1,394,800	$128,698,196
SUNB	Sunbelt Rentals Holdings, Inc.	+11,000	974,361	$72,891,946
LIN	Linde PLC	+11,000	215,600	$111,883,464
UNP	Union Pacific Corp	+10,750	161,028	$43,799,616
V	Visa Inc.	+9,581	1,013,912	$347,863,067
FERG	Ferguson Enterprises Inc. /DE/	+9,500	180,200	$42,766,866
XOM	ExxonMobil Holdings Corp	+9,100	56,100	$7,669,992
TMO	Thermo Fisher Scientific Inc.	+6,000	73,100	$36,649,416
MAR	Marriott International Inc /Md/	+5,750	99,500	$36,873,705
HD	Home Depot, Inc.	+2,500	922,500	$325,347,299
HCA	HCA Healthcare, Inc.	+1,936	84,366	$32,893,459
NVR	Nvr Inc	+10	12,097	$82,421,697
No positions match the current search.

Trimmed

Positions the filer reduced

6 positions

Ticker	Company	Δ Shares	Shares	Value
GOOGL	Alphabet Inc.	−2,749,860	572,000	$204,415,640
BF-B	Brown Forman Corp	−474,187	843,000	$23,064,480
CMCSA	Comcast Corp	−159,806	802,074	$19,690,916
ADI	Analog Devices Inc	−23,574	999,671	$397,039,331
META	Meta Platforms, Inc.	−14,140	234,163	$131,901,675
BRK-B	Berkshire Hathaway Inc	−1,114	1,531,971	$766,582,968
No positions match the current search.

New Positions

Positions the filer opened this quarter

3 positions

Ticker	Company	Shares	Value
ZTS	Zoetis Inc.	66,195	$4,756,772
NFLX	Netflix Inc	40,000	$2,856,000
UFPI	Ufp Industries Inc	4,000	$362,960
No positions match the current search.

Sold Out

Positions the filer fully exited

3 positions

Ticker	Company	Shares	Value
HEI	Heico Corp	379,644	$80,139,051
SMG	Scotts Miracle-Gro Co	168,000	$10,216,080
UNH	Unitedhealth Group Inc	18,700	$5,060,033
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

126 tracked positions · $11,215,262,620 total · filing declares 205 positions · $13,130,490,727 · as of Jun 30, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology

Showing 1–50 of 126 positions by value · page 1 of 3

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Est. Price	% of Portfolio
BRK-B	Berkshire Hathaway Inc Financial Services	Reduced	1,531,971	-1,114	$766,582,968	−50.0%	$480.75	6.84%
DE	Deere & Co Industrials	Held	877,900	0	$556,878,307	+12.6%	$579.22	4.97%
BN	BROOKFIELD Corp /ON/ Financial Services	Held	13,073,609	0	$556,805,006	+5.2%	$44.71	4.96%
AMZN	Amazon Com Inc Consumer Cyclical	Held	2,030,760	0	$484,011,337	+14.4%	$251.01	4.32%
ADI	Analog Devices Inc Technology	Reduced	999,671	-23,574	$397,039,331	+22.0%	$395.80	3.54%
GS	Goldman Sachs Group Inc Financial Services	Held	359,360	0	$363,445,922	+19.5%	$974.94	3.24%
AAPL	Apple Inc. Technology	Held	1,227,290	0	$355,128,634	+14.0%	$286.04	3.17%
CAT	Caterpillar Inc Industrials	Held	328,650	0	$349,979,384	+50.3%	$878.47	3.12%
V	Visa Inc. Financial Services	Added	1,013,912	+9,581	$347,863,067	+14.6%	$321.04	3.10%
HD	Home Depot, Inc. Consumer Cyclical	Added	922,500	+2,500	$325,347,299	+7.5%	$325.33	2.90%
WSO	Watsco Inc Industrials	Added	597,750	+15,581	$249,100,357	+17.6%	$401.97	2.22%
TXN	Texas Instruments Inc Technology	Held	724,000	0	$215,802,679	+53.5%	$277.43	1.92%
BLK	BlackRock, Inc. Financial Services	Held	220,200	0	$211,735,512	−0.0%	$1,034.22	1.89%
GOOGL	Alphabet Inc. Communication Services	Reduced	572,000	-2,749,860	$204,415,640	−78.6%	$359.97	1.82%
MSFT	Microsoft Corp Technology	Held	537,630	0	$200,546,742	+0.8%	$404.60	1.79%
DIS	Walt Disney Co Communication Services	Held	2,031,665	0	$195,547,756	−0.1%	$101.95	1.74%
AXP	American Express Co Financial Services	Held	490,450	0	$165,894,712	+11.8%	$320.17	1.48%
LOW	Lowes Companies Inc Consumer Cyclical	Added	751,980	+13,500	$165,804,069	−5.0%	$227.10	1.48%
PGR	Progressive Corp/Oh/ Financial Services	Held	753,750	0	$164,656,687	+10.2%	$201.54	1.47%
FNV	FRANCO NEVADA Corp Basic Materials	Added	773,500	+65,000	$161,228,340	−7.9%	$233.09	1.44%
LPLA	LPL Financial Holdings Inc. Financial Services	Held	559,951	0	$157,726,997	−6.4%	$300.15	1.41%
JNJ	Johnson & Johnson Healthcare	Held	610,800	0	$155,124,875	+3.9%	$233.06	1.38%
BX	Blackstone Inc. Financial Services	Held	1,229,000	0	$144,616,430	+2.3%	$120.16	1.29%
RLI	Rli Corp Financial Services	Held	2,394,544	0	$141,445,713	+3.6%	$53.67	1.26%
GD	General Dynamics Corp Industrials	Held	391,000	0	$138,507,840	+3.2%	$342.51	1.23%
NVO	Novo Nordisk A S Healthcare	Held	2,869,774	0	$137,576,964	+30.4%	$42.96	1.23%
KKR	KKR & Co. Inc. Financial Services	Held	1,451,800	0	$133,246,204	−0.8%	$96.98	1.19%
META	Meta Platforms, Inc. Communication Services	Reduced	234,163	-14,140	$131,901,675	−7.2%	$611.48	1.18%
SCHW	Schwab Charles Corp Financial Services	Added	1,394,800	+11,000	$128,698,196	−1.0%	$91.19	1.15%
MRSH	Marsh & Mclennan Companies, Inc. Financial Services	Held	763,500	0	$127,252,545	−3.9%	$167.16	1.13%
APO	Apollo Global Management, Inc. Financial Services	Held	1,012,500	0	$119,788,875	+6.2%	$125.75	1.07%
ADM	Archer-Daniels-Midland Co Consumer Defensive	Held	1,505,800	0	$115,043,119	+5.1%	$76.12	1.03%
LIN	Linde PLC Basic Materials	Added	215,600	+11,000	$111,883,464	+10.3%	$506.49	1.00%
DEO	Diageo PLC Consumer Defensive	Held	1,372,208	0	$110,298,078	+8.0%	$80.74	0.98%
MA	Mastercard Inc Financial Services	Held	207,540	0	$106,592,543	+2.8%	$498.62	0.95%
DG	Dollar General Corp Consumer Defensive	Held	869,250	0	$100,059,367	−3.0%	$113.65	0.89%
BAM	Brookfield Asset Management Ltd. Financial Services	Held	2,193,953	0	$98,398,792	+0.9%	$47.21	0.88%
MCO	Moodys Corp /De/ Financial Services	Held	213,890	0	$96,875,058	+3.8%	$449.10	0.86%
ODFL	Old Dominion Freight Line, Inc. Industrials	Held	429,150	0	$92,953,890	+10.8%	$215.92	0.83%
NSC	Norfolk Southern Corp Industrials	Held	282,500	0	$88,871,675	+9.6%	$308.32	0.79%
ITW	Illinois Tool Works Inc Industrials	Held	327,500	0	$88,578,924	+3.9%	$259.46	0.79%
JPM	Jpmorgan Chase & Co Financial Services	Held	252,550	0	$82,667,191	+11.3%	$310.55	0.74%
NVR	Nvr Inc Consumer Cyclical	Added	12,097	+10	$82,421,697	+3.5%	$6,352.70	0.73%
MSCI	MSCI Inc. Financial Services	Held	142,850	0	$80,001,714	+3.9%	$583.46	0.71%
ROK	Rockwell Automation, Inc Industrials	Held	154,900	0	$76,687,892	+38.0%	$435.04	0.68%
ECL	Ecolab Inc. Basic Materials	Held	274,300	0	$76,422,723	+4.7%	$263.37	0.68%
SUNB	Sunbelt Rentals Holdings, Inc. Industrials	Added	974,361	+11,000	$72,891,946	+16.2%	$74.99	0.65%
SBUX	Starbucks Corp Consumer Cyclical	Held	623,818	0	$63,747,961	+14.1%	$100.71	0.57%
ROL	Rollins Inc Consumer Cyclical	Added	1,516,525	+18,500	$63,299,753	−20.9%	$51.11	0.56%
THG	Hanover Insurance Group, Inc. Financial Services	Held	281,000	0	$60,167,720	+23.5%	$189.35	0.54%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.