Markel Group Inc.

Superinvestor · Thomas Gayner

CIK

1096343

Location

Glen Allen, VA

Portfolio Value

Mid $4,276,201,533

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

38 positions · $4,276,201,533 total · Financial Services 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
BRK-B	Berkshire Hathaway Inc Financial Services	Held	1,531,971	0	$734,120,503	−4.7%	$490.90	17.17%
BN	BROOKFIELD Corp /ON/ Financial Services	Held	13,073,609	0	$529,088,955	−11.8%	$44.32	12.37%
GS	Goldman Sachs Group Inc Financial Services	Held	359,360	0	$304,014,965	−3.8%	$892.11	7.11%
V	Visa Inc. Financial Services	Added	1,004,331	+5,046	$303,549,001	−13.4%	$321.55	7.10%
BLK	BlackRock, Inc. Financial Services	Held	220,200	0	$211,768,542	−10.1%	$1,052.09	4.95%
LPLA	LPL Financial Holdings Inc. Financial Services	Held	559,951	0	$168,450,058	−15.8%	$335.53	3.94%
PGR	Progressive Corp/Oh/ Financial Services	Held	753,750	0	$149,423,400	−12.9%	$206.39	3.49%
AXP	American Express Co Financial Services	Added	490,450	+1,950	$148,351,316	−17.9%	$335.29	3.47%
BX	Blackstone Inc. Financial Services	Held	1,229,000	0	$141,322,710	−25.4%	$130.10	3.30%
RLI	Rli Corp Financial Services	Held	2,394,544	0	$136,584,789	−10.8%	$60.05	3.19%
KKR	KKR & Co. Inc. Financial Services	Held	1,451,800	0	$134,291,500	−27.4%	$105.41	3.14%
MRSH	Marsh & Mclennan Companies, Inc. Financial Services	Added	763,500	+1,750	$132,429,075	−6.3%	$179.79	3.10%
SCHW	Schwab Charles Corp Financial Services	Added	1,383,800	+8,000	$130,049,524	−5.4%	$98.07	3.04%
APO	Apollo Global Management, Inc. Financial Services	Held	1,012,500	0	$112,812,750	−23.0%	$123.95	2.64%
MA	Mastercard Inc Financial Services	Held	207,540	0	$103,699,435	−12.5%	$526.66	2.43%
BAM	Brookfield Asset Management Ltd. Financial Services	Held	2,193,953	0	$97,521,210	−15.2%	$48.84	2.28%
MCO	Moodys Corp /De/ Financial Services	Held	213,890	0	$93,309,512	−14.6%	$473.05	2.18%
MSCI	MSCI Inc. Financial Services	Held	142,850	0	$76,997,578	−6.1%	$563.88	1.80%
JPM	Jpmorgan Chase & Co Financial Services	Held	252,550	0	$74,290,108	−8.7%	$303.48	1.74%
CG	Carlyle Group Inc. Financial Services	Held	1,327,000	0	$64,213,530	−18.1%	$55.15	1.50%
SPGI	S&P Global Inc. Financial Services	Reduced	117,690	-33,000	$50,058,264	−36.4%	$464.26	1.17%
THG	Hanover Insurance Group, Inc. Financial Services	Held	281,000	0	$48,711,350	−5.2%	$173.92	1.14%
ITIC	Investors Title Co Financial Services	Held	213,300	0	$46,358,622	−12.9%	$241.05	1.08%
AON	Aon plc Financial Services	Added	135,800	+1,750	$43,833,524	−7.3%	$332.33	1.03%
HGTY	Hagerty, Inc. Financial Services	Held	3,108,000	0	$32,727,240	−21.7%	$11.67	0.77%
ALL	Allstate Corp Financial Services	Held	154,550	0	$32,044,397	−0.4%	$205.01	0.75%
FDS	Factset Research Systems Inc Financial Services	Added	135,376	+13,503	$29,375,238	−16.9%	$233.37	0.69%
TROW	Price T Rowe Group Inc Financial Services	Held	314,000	0	$28,303,960	−12.0%	$96.88	0.66%
RNR	Renaissancere Holdings Ltd Financial Services	Held	70,000	0	$20,806,100	+5.7%	$290.02	0.49%
COF	Capital One Financial Corp Financial Services	Held	91,000	0	$16,601,130	−24.7%	$209.18	0.39%
WFC	Wells Fargo & Company/Mn Financial Services	Held	204,450	0	$16,276,264	−14.6%	$85.89	0.38%
BNY	Bank of New York Mellon Corp Financial Services	Added	124,500	+3,000	$14,769,435	+4.7%	$118.92	0.35%
CME	Cme Group Inc. Financial Services	Added	49,750	+4,000	$14,693,662	+17.6%	$297.03	0.34%
SEIC	Sei Investments Co Financial Services	Held	173,200	0	$13,591,004	−4.3%	$82.35	0.32%
CBOE	Cboe Global Markets, Inc. Financial Services	Added	43,700	+1,950	$12,282,759	+17.2%	$278.40	0.29%
ICE	Intercontinental Exchange, Inc. Financial Services	Added	28,870	+8,000	$4,540,673	+34.3%	$163.13	0.11%
WRB	Berkley W R Corp Financial Services	Held	60,750	0	$4,026,510	−5.5%	$68.87	0.09%
BRO	Brown & Brown, Inc. Financial Services	Added	14,000	+3,000	$912,940	+4.1%	$72.08	0.02%