Markel Group

Tom Gayner

Latest filing · Q3 2026

Sold more than boughtFiled Oct 30, 2026 for holdings on Sep 30, 2026, 30 days after the quarter ended. The next one is due by Feb 14, 2027.

Stocks reported

$12.8B

as of Sep 30, 2026

Positions

145

top 100 shown below

Top 10 stocks

43.5%

of the money in stocks

Options

None

none reported

What changed in Q3 2026

compared with Q2 2026, by number of shares

New buys17

XOMExxonMobil0.1%
ZBRAZebra Technologies<0.1%
MBGLMobility Global<0.1%
SLABSilicon Laboratories<0.1%
TYLTyler Technologies<0.1%
VGZVista Gold<0.1%
WSCWillscot<0.1%
XPOXPO<0.1%
and 9 more in the filing

Added to27

ZTSZoetis542% more
WSOWatsco4.2% more
FNVFranco-Nevada1.8% more
HDHome Depot1.0% more
LINLinde2.3% more
ROLRollins4.3% more
NFLXNetflix68.8% more
LPLALpl Financial1.1% more
and 19 more in the filing

Trimmed8

ABNBAirbnb69.7% fewer
METAMeta Platforms10.7% fewer
GOOGLAlphabet9.1% fewer
YUMYum! Brands42.1% fewer
DEDeere1.9% fewer
CMCSAComcast64.0% fewer
COSTCostco Wholesale13.8% fewer
BAMBrookfield Asset Management0.9% fewer

Exited2

Exxon Mobilwas 0.1%
BROBrown & Brownwas <0.1%

Portfolio

as of Sep 30, 2026 · source

#	Holding	Weight	Value	Shares	Vs last quarter	Held since
1	GOOGAlphabet	7.3%	$937M	2.7M	No change	Q4 2015
2	BRK.ABerkshire Hathaway	6.5%	$832M	1,114	No change	≤ Q2 2013
3	BRK.BBerkshire Hathaway	5.9%	$763M	1.5M	No change	≤ Q2 2013
4	DEDeere Trimmed −1.9%	4.5%	$578M	861K	Trimmed −1.9%	Q3 2014
5	AMZNAmazon.com	3.9%	$506M	2.0M	No change	≤ Q2 2013
6	BNBrookfield	3.7%	$477M	13.1M	No change	Q4 2022
7	AAPLApple	3.2%	$409M	1.2M	No change	Q2 2015
8	ADIAnalog Devices	3.1%	$397M	1000K	No change	Q1 2016
9	VVisa Inc-Class a Shares	2.8%	$364M	1.0M	No change	≤ Q2 2013
10	GSGoldman Sachs Group	2.5%	$324M	359K	No change	Q1 2016
11	MSFTMicrosoft	2.1%	$276M	538K	No change	≤ Q2 2013
12	CATCaterpillar	2.1%	$266M	329K	No change	≤ Q2 2013
13	HDHome Depot Added +1.0%	2.1%	$265M	932K	Added +1.0%	≤ Q2 2013
14	BLKBlackRock	1.8%	$233M	220K	No change	Q4 2024
15	DISWalt Disney Added +0.4%	1.7%	$214M	2.0M	Added +0.4%	≤ Q2 2013
16	TXNTexas Instruments	1.6%	$203M	724K	No change	Q1 2016
17	WSOWatsco Added +4.2%	1.5%	$189M	623K	Added +4.2%	Q4 2014
18	FNVFranco-Nevada Added +1.8%	1.5%	$187M	787K	Added +1.8%	Q2 2024
19	GOOGLAlphabet Trimmed −9.1%	1.4%	$179M	520K	Trimmed −9.1%	Q4 2015
20	LPLALpl Financial Added +1.1%	1.3%	$173M	566K	Added +1.1%	Q4 2022

Show 80 more

21	JNJJohnson & Johnson	1.3%	$162M	611K	No change	≤ Q2 2013
22	PGRProgressive	1.2%	$156M	754K	No change	Q1 2018
23	METAMeta Platforms Trimmed −10.7%	1.2%	$152M	209K	Trimmed −10.7%	Q4 2015
24	AXPAmerican Express	1.2%	$149M	490K	No change	≤ Q2 2013
25	LOWLowe's Cos Added +1.3%	1.1%	$140M	761K	Added +1.3%	≤ Q2 2013
26	BXBlackstone	1.1%	$138M	1.2M	No change	Q3 2019
27	SCHWSchwab (charles)	1.1%	$136M	1.4M	No change	≤ Q2 2013
28	RLIRli Added +1.1%	1.0%	$134M	2.4M	Added +1.1%	≤ Q2 2013
29	KKRKKR	1.0%	$133M	1.5M	No change	Q3 2018
30	MRSHMarsh & Mclennan Cos	1.0%	$130M	764K	No change	Q1 2014
31	GDGeneral Dynamics	1.0%	$130M	391K	No change	≤ Q2 2013
32	ADMArcher-Daniels-Midland	0.9%	$120M	1.5M	No change	≤ Q2 2013
33	APOApollo Global Management	0.9%	$118M	1.0M	No change	Q1 2022
34	DEODiageo Plc-Sponsored	0.9%	$117M	1.4M	No change	≤ Q2 2013
35	MAMastercard	0.9%	$114M	208K	No change	≤ Q2 2013
36	NVONovo-Nordisk A/s-Spons	0.8%	$109M	2.9M	No change	≤ Q2 2013
37	LINLinde Added +2.3%	0.8%	$105M	221K	Added +2.3%	Q1 2023
38	DGDollar General	0.8%	$104M	869K	No change	Q3 2021
39	MCOMoody's	0.8%	$97.1M	214K	No change	≤ Q2 2013
40	BAMBrookfield Asset Management Trimmed −0.9%	0.8%	$96.9M	2.2M	Trimmed −0.9%	Q4 2022
41	NSCNorfolk Southern	0.7%	$87.3M	283K	No change	≤ Q2 2013
42	HEI.AHeico	0.7%	$86.7M	380K	No change	Q2 2016
43	ITWIllinois Tool Works	0.7%	$84.3M	328K	No change	≤ Q2 2013
44	JPMJPMorgan Chase	0.7%	$83.6M	253K	No change	Q2 2015
45	MSCIMSCI	0.6%	$76.9M	143K	No change	Q4 2013
46	ECLEcolab	0.6%	$75.3M	274K	No change	≤ Q2 2013
47	NVRNVR Added +0.6%	0.6%	$74.9M	12K	Added +0.6%	Q4 2018
48	ODFLOld Dominion Freight Line	0.6%	$74.6M	429K	No change	Q2 2022
49	SUNBSunbelt Rentals Added +0.9%	0.6%	$72.0M	983K	Added +0.9%	Q1 2026
50	ROKRockwell Automation	0.5%	$67.4M	155K	No change	Q2 2015
51	ITICInvestors Title	0.5%	$60.3M	213K	No change	≤ Q2 2013
52	THGHanover Insurance Group Inc/	0.5%	$60.2M	281K	No change	Q1 2022
53	SBUXStarbucks	0.5%	$58.6M	624K	No change	Q4 2016
54	CGCarlyle Group	0.4%	$52.6M	1.3M	No change	Q1 2020
55	TMOThermo Fisher Scientific Added +1.4%	0.4%	$50.0M	74K	Added +1.4%	Q4 2021
56	ROLRollins Added +4.3%	0.4%	$47.6M	1.6M	Added +4.3%	Q4 2013
57	SPGIS&P Global	0.4%	$46.4M	118K	No change	Q2 2016
58	TSNTyson Foods	0.4%	$46.2M	914K	No change	Q4 2016
59	UNPUnion Pacific Added +3.1%	0.4%	$45.2M	166K	Added +3.1%	Q4 2015
60	HGTYHagerty	0.3%	$41.8M	3.1M	No change	Q2 2023
61	MELIMercadoLibre Added +0.8%	0.3%	$41.8M	24K	Added +0.8%	Q1 2026
62	RTXRTX	0.3%	$41.6M	224K	No change	Q2 2020
63	FERGFerguson Enterprises Added +2.2%	0.3%	$41.0M	184K	Added +2.2%	Q3 2024
64	CSCOCisco Systems	0.3%	$38.3M	356K	No change	Q1 2014
65	AONAon PLC	0.3%	$37.6M	136K	No change	Q4 2020
66	FDSFactset Research Systems	0.3%	$36.5M	135K	No change	≤ Q2 2013
67	HCAHCA Healthcare Added +0.7%	0.3%	$36.3M	85K	Added +0.7%	Q3 2023
68	MARMarriott International Added +0.3%	0.3%	$35.5M	100K	Added +0.3%	≤ Q2 2013
69	ALLAllstate	0.3%	$34.3M	155K	No change	Q4 2020
70	LMTLockheed Martin	0.3%	$33.2M	65K	No change	Q1 2021
71	TROWT Rowe Price Group	0.3%	$32.7M	314K	No change	≤ Q2 2013
72	URIUnited Rentals	0.2%	$31.2M	31K	No change	Q3 2023
73	COSTCostco Wholesale Trimmed −13.8%	0.2%	$30.7M	34K	Trimmed −13.8%	≤ Q2 2013
74	SHWSherwin-Williams	0.2%	$30.4M	94K	No change	Q4 2018
75	ZTSZoetis Added +542%	0.2%	$29.7M	425K	Added +542%	Q2 2026
76	ACNAccenture	0.2%	$29.2M	159K	No change	≤ Q2 2013
77	LAMRLamar Advertising	0.2%	$27.8M	193K	No change	Q1 2020
78	CSXCSX Added +2.2%	0.2%	$27.8M	598K	Added +2.2%	Q4 2015
79	VRSKVerisk Analytics	0.2%	$26.2M	156K	No change	Q1 2015
80	APDAir Products & Chemicals Added +4.8%	0.2%	$25.8M	93K	Added +4.8%	≤ Q2 2013
81	CCKCrown	0.2%	$23.2M	220K	No change	Q3 2018
82	BF.ABrown-Forman	0.2%	$22.6M	843K	No change	≤ Q2 2013
83	RNRRenaissancere	0.2%	$22.3M	70K	No change	Q3 2022
84	PMPhilip Morris International	0.2%	$21.8M	115K	No change	≤ Q2 2013
85	EPDEnterprise Products Partners Added +7.6%	0.2%	$21.8M	612K	Added +7.6%	≤ Q2 2013
86	FIXComfort Systems USA	0.2%	$21.5M	13K	No change	Q4 2023
87	YUMYum! Brands Trimmed −42.1%	0.2%	$19.4M	142K	Trimmed −42.1%	Q1 2024
88	AMATApplied Materials	0.1%	$18.6M	36K	No change	Q2 2025
89	BNYBank of New York Mellon	0.1%	$18.0M	125K	No change	≤ Q2 2013
90	SEICSei Investments	0.1%	$17.8M	173K	No change	≤ Q2 2013
91	COFCapital One Financial	0.1%	$17.6M	91K	No change	≤ Q2 2013
92	WFCWells Fargo	0.1%	$16.4M	204K	No change	Q2 2018
93	HXLHexcel	0.1%	$15.9M	189K	No change	Q4 2016
94	NKENike	0.1%	$15.8M	447K	No change	≤ Q2 2013
95	SHOPShopify	0.1%	$15.2M	103K	No change	Q1 2022
96	PAYXPaychex	0.1%	$14.8M	150K	No change	≤ Q2 2013
97	CARRCarrier Global Added +2.1%	0.1%	$13.2M	240K	Added +2.1%	Q2 2020
98	CMECME Group	0.1%	$13.0M	50K	No change	Q2 2014
99	SPOTSpotify Technology SA	0.1%	$12.6M	26K	No change	Q3 2021
100	IQVIqvia	0.1%	$12.6M	47K	No change	Q1 2023

Values at quarter end, not today's prices. Largest 100 of 145 positions shown.

Filing history

54 quarters since Q2 2013

Quarter	Filed	Lag	Stocks	Positions	Filing
Q3 2026	Oct 30, 2026	30d	$12.8B	145	EDGAR
Q2 2026	Jul 31, 2026	31d	$13.1B	130	EDGAR
Q1 2026	May 1, 2026	31d	$11.9B	129	EDGAR
Q4 2025	Feb 6, 2026	37d	$12.5B	128	EDGAR
Q3 2025	Oct 31, 2025	31d	$12.3B	129	EDGAR
Q2 2025	Aug 1, 2025	32d	$11.8B	137	EDGAR
Q1 2025	May 2, 2025	32d	$11.3B	135	EDGAR
Q4 2024	Feb 7, 2025	38d	$11.3B	132	EDGAR
Q3 2024	Nov 1, 2024	32d	$11.1B	132	EDGAR
Q2 2024	Aug 2, 2024	33d	$10.2B	134	EDGAR
Q1 2024	May 3, 2024	33d	$10.1B	132	EDGAR
Q4 2023	Feb 2, 2024	33d	$9.20B	128	EDGAR
Q3 2023	Nov 3, 2023	34d	$8.28B	133	EDGAR
Q2 2023	Aug 4, 2023	35d	$8.40B	131	EDGAR
Q1 2023	Apr 28, 2023	28d	$7.86B	131	EDGAR
Q4 2022	Feb 3, 2023	34d	$7.46B	134	EDGAR
Q3 2022	Nov 4, 2022	35d	$6.77B	131	EDGAR
Q2 2022	Aug 5, 2022	36d	$6.99B	131	EDGAR
Q1 2022	Apr 29, 2022 *	29d	$8.43B	126	EDGAR
Q4 2021	Feb 4, 2022 *	35d	$8.74B	120	EDGAR
Q3 2021	Nov 5, 2021	36d	$7.91B	125	EDGAR
Q2 2021	Aug 6, 2021	37d	$7.90B	125	EDGAR
Q1 2021	Apr 30, 2021	30d	$7.23B	118	EDGAR
Q4 2020	Feb 5, 2021	36d	$6.71B	115	EDGAR
Q3 2020	Oct 30, 2020	30d	$5.90B	113	EDGAR
Q2 2020	Aug 3, 2020	34d	$5.37B	113	EDGAR
Q1 2020	May 1, 2020	31d	$5.32B	130	EDGAR
Q4 2019	Feb 7, 2020	38d	$7.20B	134	EDGAR
Q3 2019	Nov 1, 2019	32d	$6.62B	132	EDGAR
Q2 2019	Aug 2, 2019	33d	$6.50B	137	EDGAR
Q1 2019	May 3, 2019	33d	$5.97B	133	EDGAR
Q4 2018	Feb 8, 2019	39d	$5.23B	132	EDGAR
Q3 2018	Nov 2, 2018	33d	$5.93B	131	EDGAR
Q2 2018	Aug 3, 2018	34d	$5.45B	133	EDGAR
Q1 2018	Apr 27, 2018	27d	$5.26B	137	EDGAR
Q4 2017	Feb 9, 2018	40d	$5.30B	138	EDGAR
Q3 2017	Oct 27, 2017	27d	$5.02B	139	EDGAR
Q2 2017	Jul 28, 2017	28d	$4.69B	138	EDGAR
Q1 2017	Apr 28, 2017	28d	$4.44B	133	EDGAR
Q4 2016	Feb 10, 2017	41d	$4.15B	133	EDGAR
Q3 2016	Nov 4, 2016	35d	$3.88B	129	EDGAR
Q2 2016	Aug 5, 2016	36d	$3.79B	130	EDGAR
Q1 2016	May 6, 2016	36d	$3.73B	129	EDGAR
Q4 2015	Feb 16, 2016	47d	$3.69B	130	EDGAR
Q3 2015	Nov 9, 2015	40d	$3.80B	121	EDGAR
Q2 2015	Aug 14, 2015	45d	$4.00B	112	EDGAR
Q1 2015	May 7, 2015	37d	$3.96B	107	EDGAR
Q4 2014	Feb 9, 2015 *	40d	$3.79B	107	EDGAR
Q3 2014	Nov 12, 2014	43d	$3.55B	104	EDGAR
Q2 2014	Aug 8, 2014	39d	$3.51B	105	EDGAR
Q1 2014	May 13, 2014	43d	$3.26B	105	EDGAR
Q4 2013	Feb 11, 2014	42d	$3.16B	109	EDGAR
Q3 2013	Nov 12, 2013	43d	$2.92B	107	EDGAR
Q2 2013	Aug 8, 2013	39d	$2.80B	107	EDGAR

They usually file 34 days after the quarter ends. * amended later.

Earlier filings, quarter by quarter

Oct 30
NewXOM0.1% of the bookNewZBRA<0.1% of the bookNewMBGL<0.1% of the bookNewSLAB<0.1% of the bookAddedZTS542% more sharesAddedWSO4.2% more shares
Holdings as of Sep 30 (Q3 2026), filed 30 days later (the report at the SEC)
Jul 31
NewZTS<0.1% of the bookNewNFLX<0.1% of the bookNewUFPI<0.1% of the bookAddedMELI340% more sharesAddedFNV9.2% more sharesAddedEPD182% more shares
Holdings as of Jun 30 (Q2 2026), filed 31 days later (the report at the SEC)
May 1
NewSUNB0.5% of the bookNewMELI0.1% of the bookNewEPD0.1% of the bookNewWY<0.1% of the bookAddedFNV3.7% more sharesAddedCSX20.4% more shares
Holdings as of Mar 31 (Q1 2026), filed 31 days later (the report at the SEC)
Feb 6
NewBRO<0.1% of the bookAddedNVO21.2% more sharesAddedFNV12.9% more sharesAddedODFL17.5% more sharesAddedCSX54.4% more sharesTrimmedADI12.4% fewer shares
Holdings as of Dec 31 (Q4 2025), filed 37 days later (the report at the SEC)
Oct 31
NewCNI<0.1% of the bookNewCP<0.1% of the bookNewExxon Mobil Corp<0.1% of the bookAddedFNV6.3% more sharesAddedCSX338% more sharesAddedUNP30.3% more shares
Holdings as of Sep 30 (Q3 2025), filed 31 days later (the report at the SEC)
Aug 1
NewADBE<0.1% of the bookNewAMAT<0.1% of the bookNewCSX<0.1% of the bookAddedNVO5.0% more sharesAddedFNV8.4% more sharesAddedODFL9.3% more shares
Holdings as of Jun 30 (Q2 2025), filed 32 days later (the report at the SEC)

About Markel Group: An insurer's stock portfolio. Long-term, wide and low turnover. A 13F is up to 45 days old when filed and shows long US stock positions only. Not investment advice.