Thomas Gayner

Net buying

Markel Group Inc. — managed by Thomas Gayner; US equity positions disclosed quarterly via SEC 13F

Data as of 2026-03-31 (filed 2026-05-01) · Source: SEC EDGAR

Portfolio value$11.94B（−5%）

Holdings129（+1）

Reporting quarterQ1 2026

Top holdingBerkshire Hathaway Inc

Portfolio overview

Markel Group Inc.'s most recent 13F filing, for the quarter ended 2026-03-31, reports 129 positions worth $11.94B. The top 5 holdings represent 28% of that value, a broadly diversified portfolio.

The single largest position is Berkshire Hathaway Inc at 6.7% of the portfolio, followed by Alphabet Inc at 6.6% and Berkshire Hathaway Inc at 6.1%.

Against the prior quarter, Thomas Gayner opened 4 new positions, exited 3, added to 43, and trimmed 2. The largest new buy was Sunbelt Rentals Holdings Inc. The most notable sale was the full exit from Target Corp.

Across all 8 quarters on file, Berkshire Hathaway Inc has appeared in every filing, as has Alphabet Inc. Berkshire Hathaway Inc currently ranks first by value.

A 13F is filed roughly 45 days after quarter-end and covers only long positions in US-listed equities, so it is a lagging and partial view of the portfolio. Source: SEC EDGAR.

High-conviction

Microsoft CorpMSFTAdding · 7q

Added for 7 straight quarters.

Franco Nev CorpFNVAdding · 7q

Added for 7 straight quarters.

Lowes Cos IncLOWAdding · 7q

Added for 7 straight quarters.

Strike-zone picks

As of 2026-07-02, 1 of Thomas Gayner's tracked holdings trade below our conservative value band (strike zone).

Open any to see the stock's valuation →

CMCSAComcast Corp$48–$84/sh−51%

Valuation as of 2026-07-02; method: conservative Greenwald value band + Owner-Earnings DCF. Position observation, not advice.

Next · is it cheap

Thomas Gayner holds 1 position now in the strike zone.

See the full strike-zone list

Holdings

Security	Value	Valuation	Holders	Shares	Weight (prev→now)
Berkshire Hathaway IncBRK.A	$800.0M	—	14	1,114	6.7% → 6.7%
Alphabet IncGOOG	$788.8M	Above value	31	2,749,860	6.9% → 6.6%
Berkshire Hathaway IncBRK.B	$734.1M	—	22	1,531,971	6.1% → 6.1%
Brookfield CorpBN	$529.1M	—	8	13,073,609	4.8% → 4.4%
Deere & CoDE	$494.5M	Above value	5	877,900	3.3% → 4.1%
Amazon Com IncAMZN	$422.9M	Above value	31	2,030,760	3.7% → 3.5%
Analog Devices IncADI	$325.5M	Above value	9	1,023,245	2.2% → 2.7%
Apple IncAAPL	$311.5M	Above value	21	1,227,290	2.7% → 2.6%
Goldman Sachs Group IncGS	$304.0M	Above value	7	359,360	2.5% → 2.5%
Visa IncV	$303.5M	—	26	1,004,331	2.8% → 2.5% ▲
Home Depot IncHD	$302.6M	Above value	5	920,000	2.5% → 2.5%
Caterpillar IncCAT	$232.8M	Above value	6	328,650	1.5% → 2.0%
Watsco IncWSO	$211.8M	Above value	1	582,169	1.6% → 1.8% ▲
Blackrock IncBLK	$211.8M	Above value	5	220,200	1.9% → 1.8%
Microsoft CorpMSFT	$199.0M	Above value	32	537,630	2.1% → 1.7% ▲
Disney Walt CoDIS	$195.8M	Above value	20	2,031,665	1.8% → 1.6%
Franco Nev CorpFNV	$175.0M	—	2	708,500	1.1% → 1.5% ▲
Lowes Cos IncLOW	$174.5M	Above value	2	738,480	1.4% → 1.5% ▲
Lpl Finl Hldgs IncLPLA	$168.5M	Above value	5	559,951	1.6% → 1.4%
Alphabet IncGOOGL	$164.5M	Above value	34	572,000	1.4% → 1.4%
Progressive CorpPGR	$149.4M	Above value	8	753,750	1.4% → 1.3%
Johnson & JohnsonJNJ	$149.3M	Above value	11	610,800	1.0% → 1.3%
American Express CoAXP	$148.4M	Above value	13	490,450	1.4% → 1.2% ▲
Meta Platforms IncMETA	$142.1M	Above value	27	248,303	1.3% → 1.2%
Blackstone IncBX	$141.3M	Above value	4	1,229,000	1.5% → 1.2%

Berkshire Hathaway IncBRK.A
Value$800.0MValuation—Holders14Weight (prev→now)6.7% → 6.7%
Alphabet IncGOOG
Value$788.8MValuationAbove valueHolders31Weight (prev→now)6.9% → 6.6%
Berkshire Hathaway IncBRK.B
Value$734.1MValuation—Holders22Weight (prev→now)6.1% → 6.1%
Brookfield CorpBN
Value$529.1MValuation—Holders8Weight (prev→now)4.8% → 4.4%
Deere & CoDE
Value$494.5MValuationAbove valueHolders5Weight (prev→now)3.3% → 4.1%
Amazon Com IncAMZN
Value$422.9MValuationAbove valueHolders31Weight (prev→now)3.7% → 3.5%
Analog Devices IncADI
Value$325.5MValuationAbove valueHolders9Weight (prev→now)2.2% → 2.7%
Apple IncAAPL
Value$311.5MValuationAbove valueHolders21Weight (prev→now)2.7% → 2.6%
Goldman Sachs Group IncGS
Value$304.0MValuationAbove valueHolders7Weight (prev→now)2.5% → 2.5%
Visa IncV
Value$303.5MValuation—Holders26Weight (prev→now)2.8% → 2.5% ▲
Home Depot IncHD
Value$302.6MValuationAbove valueHolders5Weight (prev→now)2.5% → 2.5%
Caterpillar IncCAT
Value$232.8MValuationAbove valueHolders6Weight (prev→now)1.5% → 2.0%
Watsco IncWSO
Value$211.8MValuationAbove valueHolders1Weight (prev→now)1.6% → 1.8% ▲
Blackrock IncBLK
Value$211.8MValuationAbove valueHolders5Weight (prev→now)1.9% → 1.8%
Microsoft CorpMSFT
Value$199.0MValuationAbove valueHolders32Weight (prev→now)2.1% → 1.7% ▲
Disney Walt CoDIS
Value$195.8MValuationAbove valueHolders20Weight (prev→now)1.8% → 1.6%
Franco Nev CorpFNV
Value$175.0MValuation—Holders2Weight (prev→now)1.1% → 1.5% ▲
Lowes Cos IncLOW
Value$174.5MValuationAbove valueHolders2Weight (prev→now)1.4% → 1.5% ▲
Lpl Finl Hldgs IncLPLA
Value$168.5MValuationAbove valueHolders5Weight (prev→now)1.6% → 1.4%
Alphabet IncGOOGL
Value$164.5MValuationAbove valueHolders34Weight (prev→now)1.4% → 1.4%
Progressive CorpPGR
Value$149.4MValuationAbove valueHolders8Weight (prev→now)1.4% → 1.3%
Johnson & JohnsonJNJ
Value$149.3MValuationAbove valueHolders11Weight (prev→now)1.0% → 1.3%
American Express CoAXP
Value$148.4MValuationAbove valueHolders13Weight (prev→now)1.4% → 1.2% ▲
Meta Platforms IncMETA
Value$142.1MValuationAbove valueHolders27Weight (prev→now)1.3% → 1.2%
Blackstone IncBX
Value$141.3MValuationAbove valueHolders4Weight (prev→now)1.5% → 1.2%

Showing top 25 of 129 positions

Exited this quarter (3)Target Corp、Choice Hotels Intl Inc、Transunion

Sources· SEC EDGAR 13F as of 2026-03-31 · filed 2026-05-01

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