Markel Group Inc.

Superinvestor · Thomas Gayner

CIK

1096343

Location

Glen Allen, VA

Portfolio Value

Mid $1,091,386,414

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 · 46d

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

11 positions · $1,091,386,414 total · Technology 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
ADI	Analog Devices Inc Technology	Held	1,023,245	0	$325,535,164	+17.3%	$318.18	29.83%
AAPL	Apple Inc. Technology	Held	1,227,290	0	$311,473,929	−6.6%	$260.25	28.54%
MSFT	Microsoft Corp Technology	Added	537,630	+1,950	$199,014,496	−23.2%	$418.44	18.24%
TXN	Texas Instruments Inc Technology	Held	724,000	0	$140,557,359	+11.9%	$202.46	12.88%
ACN	Accenture plc Technology	Held	159,400	0	$31,607,425	−26.1%	$233.00	2.90%
CSCO	Cisco Systems, Inc. Technology	Held	355,500	0	$27,583,245	+0.7%	$78.28	2.53%
PAYX	Paychex Inc Technology	Held	150,000	0	$13,818,000	−17.9%	$98.94	1.27%
AMAT	Applied Materials Inc /De Technology	Added	36,350	+2,250	$12,424,066	+41.8%	$336.38	1.14%
SHOP	Shopify Inc. Technology	Held	102,750	0	$12,188,205	−26.3%	$131.40	1.12%
UBER	Uber Technologies, Inc Technology	Added	142,500	+2,500	$10,250,025	−10.4%	$76.97	0.94%
SONY	Sony Group Corp Technology	Held	335,000	0	$6,934,500	−19.1%	$22.41	0.64%