Markel Group Inc.

Superinvestor · Thomas Gayner

CIK

1096343

Location

Glen Allen, VA

Portfolio Value

Mid $1,284,685,458

Diversification

Diversified

Filing Date

Global Rank

#412 / 8,586 ▲ 1

Top Industry

Asset Management 13.0%

3Y Alpha vs SPY

-7.8%

Period ended 3 months ago

Filed May 1, 2026 · 47d

25 quarters · since Mar 2020

Clone Performance

Jun 2023–Jun 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+46.0%

SPY

+78.1%

Annualised alpha

-7.8%

Max drawdown

−18.0%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

125 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

7.2%

−0.0 pts

Top 5

24.4%

+0.2 pts

Top 10

38.6%

+0.4 pts

HHI

236

Diversified−1

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Financial Services	41.7%	$4,276,201,533	38
Industrials	17.3%	$1,771,430,745	26
Consumer Cyclical	12.5%	$1,284,685,458	16
Technology	10.6%	$1,091,386,414	11
Communication Services	5.3%	$542,532,530	5
Consumer Defensive	4.8%	$490,544,954	11
Basic Materials	4.1%	$420,286,187	8
Healthcare	3.3%	$339,817,340	6
Real Estate	0.2%	$24,872,905	2
Energy	0.2%	$15,617,700	2

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
CSX	Csx Corp	+90,000	530,000	$21,756,500
NSP	Insperity, Inc.	+28,463	181,336	$4,903,325
FNV	FRANCO NEVADA Corp	+25,000	708,500	$175,034,925
YUM	Yum Brands Inc	+18,762	245,213	$38,125,717
FDS	Factset Research Systems Inc	+13,503	135,376	$29,375,238
ROL	Rollins Inc	+9,000	1,498,025	$80,009,514
CNI	Canadian National Railway Co	+9,000	53,500	$5,498,195
NSC	Norfolk Southern Corp	+9,000	282,500	$81,077,500
XOM	Exxon Mobil Corp	+9,000	47,000	$7,974,020
UNP	Union Pacific Corp	+9,000	150,278	$36,460,448
CP	Canadian Pacific Kansas City Ltd/Cn	+9,000	59,500	$4,680,270
CCK	Crown Holdings, Inc.	+8,000	220,000	$22,055,000
ICE	Intercontinental Exchange, Inc.	+8,000	28,870	$4,540,673
LAMR	Lamar Advertising Co/New	+8,000	193,000	$24,445,380
SCHW	Schwab Charles Corp	+8,000	1,383,800	$130,049,524
HSY	Hershey Co	+7,500	75,000	$15,591,750
ODFL	Old Dominion Freight Line, Inc.	+7,500	429,150	$83,855,910
FERG	Ferguson Enterprises Inc. /DE/	+7,200	170,700	$39,817,482
V	Visa Inc.	+5,046	1,004,331	$303,549,001
TSN	Tyson Foods, Inc.	+5,000	889,500	$56,990,265
LIN	Linde PLC	+4,500	204,600	$101,432,496
WSO	Watsco Inc	+4,500	582,169	$211,787,260
TMO	Thermo Fisher Scientific Inc.	+4,300	67,100	$32,981,663
MAR	Marriott International Inc /Md/	+4,000	93,750	$30,662,812
APD	Air Products & Chemicals, Inc.	+4,000	75,500	$21,931,995
No positions match the current search.

Trimmed

Positions the filer reduced

2 positions

Ticker	Company	Δ Shares	Shares	Value
SPGI	S&P Global Inc.	−33,000	117,690	$50,058,264
UNH	Unitedhealth Group Inc	−7,800	18,700	$5,060,033
No positions match the current search.

New Positions

Positions the filer opened this quarter

4 positions

Ticker	Company	Shares	Value
SUNB	Sunbelt Rentals Holdings, Inc.	963,361	$62,705,167
MELI	Mercadolibre Inc	5,450	$9,423,159
EPD	Enterprise Products Partners L.P.	202,000	$7,643,680
WY	Weyerhaeuser Co	17,500	$427,525
No positions match the current search.

Sold Out

Positions the filer fully exited

3 positions

Ticker	Company	Shares	Value
TGT	Target Corp	133,000	$13,000,750
CHH	Choice Hotels International Inc /De	115,500	$11,002,530
TRU	TransUnion	2,000	$171,500
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

16 positions · $1,284,685,458 total · Consumer Cyclical only · as of Mar 31, 2026

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

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Est. Price	% of Portfolio
AMZN	Amazon Com Inc Consumer Cyclical	Held	2,030,760	0	$422,946,384	−9.8%	$220.17	32.92%
HD	Home Depot, Inc. Consumer Cyclical	Held	920,000	0	$302,578,799	−4.4%	$364.41	23.55%
LOW	Lowes Companies Inc Consumer Cyclical	Added	738,480	+4,000	$174,488,053	−1.5%	$260.81	13.58%
ROL	Rollins Inc Consumer Cyclical	Added	1,498,025	+9,000	$80,009,514	−10.5%	$59.51	6.23%
NVR	Nvr Inc Consumer Cyclical	Added	12,087	+80	$79,651,276	−9.0%	$7,288.33	6.20%
SBUX	Starbucks Corp Consumer Cyclical	Held	623,818	0	$55,887,854	+6.4%	$94.59	4.35%
YUM	Yum Brands Inc Consumer Cyclical	Added	245,213	+18,762	$38,125,717	+11.3%	$158.37	2.97%
MAR	Marriott International Inc /Md/ Consumer Cyclical	Added	93,750	+4,000	$30,662,812	+10.1%	$328.91	2.39%
ABNB	Airbnb, Inc. Consumer Cyclical	Added	242,389	+2,100	$30,608,882	−6.1%	$130.05	2.38%
NKE	NIKE, Inc. Consumer Cyclical	Held	447,400	0	$23,631,668	−17.1%	$60.64	1.84%
CCK	Crown Holdings, Inc. Consumer Cyclical	Added	220,000	+8,000	$22,055,000	+1.0%	$106.86	1.72%
MELI	Mercadolibre Inc Consumer Cyclical	NEW	5,450	NEW	$9,423,159	NEW	$1,929.04	0.73%
KMX	Carmax Inc Consumer Cyclical	Held	136,500	0	$5,675,670	+7.6%	$43.78	0.44%
BC	Brunswick Corp Consumer Cyclical	Added	51,250	+3,500	$3,728,950	+5.2%	$80.67	0.29%
MGM	MGM Resorts International Consumer Cyclical	Held	87,500	0	$3,238,375	+1.4%	$35.61	0.25%
DPZ	Dominos Pizza Inc Consumer Cyclical	Held	5,500	0	$1,973,345	−13.9%	$394.83	0.15%