Thomas Gayner

Net selling

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

Data as of 2026-06-30 (filed 2026-07-31) · Source: SEC EDGAR

Portfolio value$12.51B (+5%)

Holdings78 (−51)

Top holdingAlphabet Inc

Below band2

New

Added

Exited

By what price implies: 37 demand a demanding growth rate, 11 modest.

13F × valuation

Valuation posture

Of 39 valued US positions, 2 trade below a conservative value band (as of 2026-08-25):

Allstate CorpALL18% · below
Brookfield Asset Managmt LtdBAM11% · below

SEC 13F · latest filing

Holdings

Security	Value	Valuation	Holders	Shares	Weight	Signal
Alphabet IncGOOG	$971.6M	—	37	2,749,860	7.4%	—
Berkshire Hathaway IncBRK.A	$834.2M	—	17	1,114	6.4%	—
Berkshire Hathaway IncBRK.B	$766.6M	—	27	1,531,971	5.8%	—
Deere & CoDE	$556.9M	—	7	877,900	4.2%	—
Brookfield CorpBN	$556.8M	—	8	13,073,609	4.2%	—
Amazon Com IncAMZN	$484.0M	—	39	2,030,760	3.7%	—
Analog Devices IncADI	$397.0M	—	12	999,671	3.0%	—
Goldman Sachs Group IncGS	$363.4M	—	8	359,360	2.8%	—
Apple IncAAPL	$355.1M	—	28	1,227,290	2.7%	—
Caterpillar IncCAT	$350.0M	—	8	328,650	2.7%	—
Visa IncV	$347.9M	—	32	1,013,912	2.6%	—
Home Depot IncHD	$325.3M	—	6	922,500	2.5%	—
Watsco IncWSO	$249.1M	—	4	597,750	1.9%	Adding 3q
Texas Instrs IncTXN	$215.8M	—	13	724,000	1.6%	—
Blackrock IncBLK	$211.7M	—	7	220,200	1.6%	—
Alphabet IncGOOGL	$204.4M	—	41	572,000	1.6%	—
Microsoft CorpMSFT	$200.5M	—	43	537,630	1.5%	—
Disney Walt CoDIS	$195.5M	—	22	2,031,665	1.5%	—
American Express CoAXP	$165.9M	—	16	490,450	1.3%	—
Lowes Cos IncLOW	$165.8M	—	5	751,980	1.3%	Adding 7q
Progressive CorpPGR	$164.7M	—	10	753,750	1.3%	—
Franco Nev CorpFNV	$161.2M	—	1	773,500	1.2%	Adding 7q
Lpl Finl Hldgs IncLPLA	$157.7M	—	5	559,951	1.2%	—
Johnson & JohnsonJNJ	$155.1M	—	14	610,800	1.2%	—
Blackstone IncBX	$144.6M	—	4	1,229,000	1.1%	—

Alphabet IncGOOG—
Value$971.6MValuation—Holders37Weight7.4%
Berkshire Hathaway IncBRK.A—
Value$834.2MValuation—Holders17Weight6.4%
Berkshire Hathaway IncBRK.B—
Value$766.6MValuation—Holders27Weight5.8%
Deere & CoDE—
Value$556.9MValuation—Holders7Weight4.2%
Brookfield CorpBN—
Value$556.8MValuation—Holders8Weight4.2%
Amazon Com IncAMZN—
Value$484.0MValuation—Holders39Weight3.7%
Analog Devices IncADI—
Value$397.0MValuation—Holders12Weight3.0%
Goldman Sachs Group IncGS—
Value$363.4MValuation—Holders8Weight2.8%
Apple IncAAPL—
Value$355.1MValuation—Holders28Weight2.7%
Caterpillar IncCAT—
Value$350.0MValuation—Holders8Weight2.7%
Visa IncV—
Value$347.9MValuation—Holders32Weight2.6%
Home Depot IncHD—
Value$325.3MValuation—Holders6Weight2.5%
Watsco IncWSOAdding 3q
Value$249.1MValuation—Holders4Weight1.9%
Texas Instrs IncTXN—
Value$215.8MValuation—Holders13Weight1.6%
Blackrock IncBLK—
Value$211.7MValuation—Holders7Weight1.6%
Alphabet IncGOOGL—
Value$204.4MValuation—Holders41Weight1.6%
Microsoft CorpMSFT—
Value$200.5MValuation—Holders43Weight1.5%
Disney Walt CoDIS—
Value$195.5MValuation—Holders22Weight1.5%
American Express CoAXP—
Value$165.9MValuation—Holders16Weight1.3%
Lowes Cos IncLOWAdding 7q
Value$165.8MValuation—Holders5Weight1.3%
Progressive CorpPGR—
Value$164.7MValuation—Holders10Weight1.3%
Franco Nev CorpFNVAdding 7q
Value$161.2MValuation—Holders1Weight1.2%
Lpl Finl Hldgs IncLPLA—
Value$157.7MValuation—Holders5Weight1.2%
Johnson & JohnsonJNJ—
Value$155.1MValuation—Holders14Weight1.2%
Blackstone IncBX—
Value$144.6MValuation—Holders4Weight1.1%

Showing top 25 of 78 positions

Exited this quarter (51)Accenture Plc Ireland、Comcast Corp、Nike Inc、Brown Forman Corp、Crown Hldgs Inc、Air Prods & Chems Inc、Csx Corp、Renaissancere Hldgs Ltd、Philip Morris Intl Inc、Comfort Sys Usa Inc、Capital One Finl Corp、Wells Fargo Co… +39 more

What is a superinvestor

About this investor

Portfolio overview

Markel Group Inc.'s most recent 13F filing, for the quarter ended 2026-06-30, reports 78 positions worth $12.51B. The top 5 holdings represent 29% of that value, a broadly diversified portfolio.

The single largest position is Alphabet Inc at 7.8% of the portfolio, followed by Berkshire Hathaway Inc at 6.7% and Berkshire Hathaway Inc at 6.1%.

Against the prior quarter, Thomas Gayner opened 0 new positions, exited 51, added to 17, and trimmed 2. The most notable sale was the full exit from Comcast Corp.

Across all 8 quarters on file, Alphabet Inc has appeared in every filing, as has Berkshire Hathaway Inc. Alphabet 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.

Thomas Gayner has no positions in the strike zone right now. Browse the whole market by value band

Sources· SEC EDGAR 13F as of 2026-06-30 · filed 2026-07-31

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