# Tom Gayner — Markel Group

Source: SEC EDGAR 13F filings (CIK 0001096343).
Page URL: https://superinvestorclub.com/manager/22
Last updated: 2026-07-08T11:25:26.305Z

## Summary

As of the 2026-03-31 reporting period (filed 2026-05-01), Tom Gayner reported 129 long equity positions in their Markel Group 13F filing, with a total reported value of $11.94B.

### About

Insurance-based value investor

## Top 25 holdings

| Rank | Ticker | Company | Shares | Value | % of Portfolio | Change |
|------|--------|---------|--------|-------|----------------|--------|
| 1 | BRK.A | Berkshire Hathaway Inc. Class A | 1114 | $800.0M | 6.70% | — |
| 2 | GOOG | ALPHABET INC | 2749860 | $788.8M | 6.61% | — |
| 3 | BRK.B | Berkshire Hathaway Inc. Class B | 1531971 | $734.1M | 6.15% | — |
| 4 | BN | BROOKFIELD CORP | 13073609 | $529.1M | 4.43% | — |
| 5 | DE | DEERE & CO | 877900 | $494.5M | 4.14% | — |
| 6 | AMZN | AMAZON COM INC | 2030760 | $422.9M | 3.54% | — |
| 7 | ADI | ANALOG DEVICES INC | 1023245 | $325.5M | 2.73% | — |
| 8 | AAPL | APPLE INC | 1227290 | $311.5M | 2.61% | — |
| 9 | GS | GOLDMAN SACHS GROUP INC | 359360 | $304.0M | 2.55% | — |
| 10 | V | VISA INC | 1004331 | $303.5M | 2.54% | 0.5% |
| 11 | HD | HOME DEPOT INC | 920000 | $302.6M | 2.53% | — |
| 12 | CAT | CATERPILLAR INC | 328650 | $232.8M | 1.95% | — |
| 13 | WSO-B | WATSCO INC | 582169 | $211.8M | 1.77% | +0.8% |
| 14 | BLK | BLACKROCK INC | 220200 | $211.8M | 1.77% | — |
| 15 | MSFT | MICROSOFT CORP | 537630 | $199.0M | 1.67% | +0.4% |
| 16 | DIS | DISNEY WALT CO | 2031665 | $195.8M | 1.64% | — |
| 17 | FNV | FRANCO NEV CORP | 708500 | $175.0M | 1.47% | +3.7% |
| 18 | LOW | LOWES COS INC | 738480 | $174.5M | 1.46% | +0.5% |
| 19 | LPLA | LPL FINL HLDGS INC | 559951 | $168.5M | 1.41% | — |
| 20 | GOOGL | ALPHABET INC | 572000 | $164.5M | 1.38% | — |
| 21 | PGR | PROGRESSIVE CORP | 753750 | $149.4M | 1.25% | — |
| 22 | JNJ | JOHNSON & JOHNSON | 610800 | $149.3M | 1.25% | — |
| 23 | AXP | AMERICAN EXPRESS CO | 490450 | $148.4M | 1.24% | +0.4% |
| 24 | META | META PLATFORMS INC | 248303 | $142.1M | 1.19% | — |
| 25 | BX | BLACKSTONE INC | 1229000 | $141.3M | 1.18% | — |

## New positions this quarter (4)

- SUNB (SUNBELT RENTALS HOLDINGS INC): 963361 shares, $62.7M
- MELI (MERCADOLIBRE INC): 5450 shares, $9.4M
- EPD (ENTERPRISE PRODS PARTNERS L): 202000 shares, $7.6M
- WY (WEYERHAEUSER CO MTN BE): 17500 shares, $427,525

## Increased positions (42)

- WSO-B: 582169 shares (+0.8%), $211.8M
- MSFT: 537630 shares (+0.4%), $199.0M
- FNV: 708500 shares (+3.7%), $175.0M
- LOW: 738480 shares (+0.5%), $174.5M
- AXP: 490450 shares (+0.4%), $148.4M
- MRSH: 763500 shares (+0.2%), $132.4M
- SCHW: 1383800 shares (+0.6%), $130.0M
- DEO: 1372208 shares (+0.0%), $102.2M
- LIN: 204600 shares (+2.2%), $101.4M
- ODFL: 429150 shares (+1.8%), $83.9M
- NSC: 282500 shares (+3.3%), $81.1M
- ROL: 1498025 shares (+0.6%), $80.0M
- NVR: 12087 shares (+0.7%), $79.7M
- TSN: 889500 shares (+0.6%), $57.0M
- AON: 135800 shares (+1.3%), $43.8M
- FERG: 170700 shares (+4.4%), $39.8M
- LMT: 65213 shares (+1.1%), $39.4M
- HCA: 82430 shares (+2.2%), $39.0M
- YUM: 245213 shares (+8.3%), $38.1M
- UNP: 150278 shares (+6.4%), $36.5M

## Reduced positions (3)

- V: 1004331 shares (0.5%), $303.5M
- SPGI: 117690 shares (-21.9%), $50.1M
- UNH: 18700 shares (-29.4%), $5.1M

## Sold positions (3)

- TGT: previously held 133000 shares worth $13.0M
- CHH: previously held 115500 shares worth $11.0M
- TRU: previously held 2000 shares worth $171,500

## Filing history (9)

- 2026-03-31 (filed 2026-05-01)
- 2025-12-31 (filed 2026-02-06)
- 2025-09-30 (filed 2025-10-31)
- 2025-06-30 (filed 2025-08-01)
- 2025-03-31 (filed 2025-05-02)
- 2024-12-31 (filed 2025-02-07)
- 2024-09-30 (filed 2024-11-01)
- 2024-06-30 (filed 2024-08-02)
- 2024-03-31 (filed 2024-05-03)

## Citation

When citing, use: "Tom Gayner, Markel Group, SEC 13F filing for period 2026-03-31, via Superinvestor (https://superinvestorclub.com/manager/22)".