What Tom Gayner Bought in Q3 2025
Markel Group · Quarterly 13F recap as filed with the SEC.
Period: 2025-09-30 · Filed · Historical
$12.32B
Total Value
129
Holdings
3
New Buys
5
Reduced
In Q3 2025, Tom Gayner reported 129 long equity positions worth $12.32B in their Markel Group 13F filing, including 3 new positions (largest: CANADIAN NATL RY CO at $2.4M) and 24 increased positions.
| Rank | Ticker | Company | Shares | Value | % Portfolio | Change |
|---|---|---|---|---|---|---|
| 1 | BRK.A | Berkshire Hathaway Inc. Class A | 1114 | $840.2M | 6.82% | — |
| 2 | BRK.B | Berkshire Hathaway Inc. Class B | 1531971 | $770.2M | 6.25% | — |
| 3 | GOOG | ALPHABET INC | 2749860 | $669.7M | 5.44% | — |
| 4 | BN | BROOKFIELD CORP | 8715741 | $597.7M | 4.85% | — |
| 5 | AMZN | AMAZON COM INC | 2030760 | $445.9M | 3.62% | — |
| 6 | DE | DEERE & CO | 877900 | $401.4M | 3.26% | — |
| 7 | HD | HOME DEPOT INC | 920000 | $372.8M | 3.03% | — |
| 8 | V | VISA INC | 999285 | $341.1M | 2.77% | — |
| 9 | AAPL | APPLE INC | 1227290 | $312.5M | 2.54% | — |
| 10 | ADI | ANALOG DEVICES INC | 1167671 | $286.9M | 2.33% | — |
| 11 | GS | GOLDMAN SACHS GROUP INC | 359360 | $286.2M | 2.32% | — |
| 12 | MSFT | MICROSOFT CORP | 532080 | $275.6M | 2.24% | +0.9% |
| 13 | BLK | BLACKROCK INC | 220200 | $256.7M | 2.08% | — |
| 14 | DIS | DISNEY WALT CO | 2031665 | $232.6M | 1.89% | — |
| 15 | WSO | WATSCO INC | 565169 | $228.5M | 1.85% | — |
| 16 | BX | BLACKSTONE INC | 1229000 | $210.0M | 1.70% | — |
| 17 | META | META PLATFORMS INC | 280281 | $205.8M | 1.67% | — |
| 18 | KKR | KKR & CO INC | 1451800 | $188.7M | 1.53% | — |
| 19 | PGR | PROGRESSIVE CORP | 753750 | $186.1M | 1.51% | — |
| 20 | LPLA | LPL FINL HLDGS INC | 553321 | $184.1M | 1.49% | +1.6% |
| 21 | LOW | LOWES COS INC | 726730 | $182.6M | 1.48% | +1.3% |
| 22 | AXP | AMERICAN EXPRESS CO | 484250 | $160.8M | 1.31% | — |
| 23 | CAT | CATERPILLAR INC | 328650 | $156.8M | 1.27% | — |
| 24 | RLI | RLI CORP | 2394544 | $156.2M | 1.27% | — |
| 25 | MRSH | MARSH & MCLENNAN COS INC | 755000 | $152.2M | 1.23% | +0.8% |
| 26 | GOOGL | ALPHABET INC | 572000 | $139.1M | 1.13% | — |
| 27 | FNV | FRANCO NEV CORP | 605500 | $135.0M | 1.10% | +6.3% |
| 28 | APO | APOLLO GLOBAL MGMT INC | 1012500 | $134.9M | 1.10% | — |
| 29 | GD | GENERAL DYNAMICS CORP | 391000 | $133.3M | 1.08% | — |
| 30 | TXN | TEXAS INSTRS INC | 724000 | $133.0M | 1.08% | — |
| 31 | NVO | NOVO-NORDISK A S | 2368649 | $131.4M | 1.07% | +4.9% |
| 32 | DEO | DIAGEO PLC | 1366708 | $130.4M | 1.06% | — |
| 33 | SCHW | SCHWAB CHARLES CORP | 1364800 | $130.3M | 1.06% | — |
| 34 | BAM | BROOKFIELD ASSET MANAGMT LTD | 2193953 | $124.9M | 1.01% | — |
| 35 | MA | MASTERCARD INCORPORATED | 207540 | $118.1M | 0.96% | — |
| 36 | JNJ | JOHNSON & JOHNSON | 610800 | $113.3M | 0.92% | — |
| 37 | MCO | MOODYS CORP | 213890 | $101.9M | 0.83% | — |
| 38 | HEI-A | HEICO CORP NEW | 379644 | $96.5M | 0.78% | — |
| 39 | NVR | NVR INC | 11897 | $95.6M | 0.78% | — |
| 40 | LIN | LINDE PLC | 192850 | $91.6M | 0.74% | +3.3% |
| 41 | ADM | ARCHER DANIELS MIDLAND CO | 1505800 | $90.0M | 0.73% | -4.3% |
| 42 | DG | DOLLAR GEN CORP NEW | 869250 | $89.8M | 0.73% | — |
| 43 | ROL | ROLLINS INC | 1475775 | $86.7M | 0.70% | +0.4% |
| 44 | ITW | ILLINOIS TOOL WKS INC | 327500 | $85.4M | 0.69% | — |
| 45 | CG | Carlyle Group | 1327000 | $83.2M | 0.68% | — |
| 46 | MSCI | MSCI INC | 142850 | $81.1M | 0.66% | — |
| 47 | JPM | JPMORGAN CHASE & CO. | 252550 | $79.7M | 0.65% | — |
| 48 | NSC | NORFOLK SOUTHN CORP | 256500 | $77.1M | 0.63% | +8.5% |
| 49 | ECL | ECOLAB INC | 274300 | $75.1M | 0.61% | — |
| 50 | SPGI | S&P GLOBAL INC | 150690 | $73.3M | 0.60% | — |
| 51 | ITIC | INVESTORS TITLE CO NC | 213300 | $57.1M | 0.46% | — |
| 52 | ROK | ROCKWELL AUTOMATION INC | 154900 | $54.1M | 0.44% | — |
| 53 | SBUX | STARBUCKS CORP | 623818 | $52.8M | 0.43% | — |
| 54 | THG | HANOVER INS GROUP INC | 281000 | $51.0M | 0.41% | — |
| 55 | ODFL | OLD DOMINION FREIGHT LINE IN | 358750 | $50.5M | 0.41% | +4.8% |
| 56 | FDX | FEDEX CORP | 213000 | $50.2M | 0.41% | — |
| 57 | AON | AON PLC | 129800 | $46.3M | 0.38% | — |
| 58 | TSN | TYSON FOODS INC | 848500 | $46.1M | 0.37% | +4.0% |
| 59 | ACN | ACCENTURE PLC IRELAND | 159400 | $39.3M | 0.32% | — |
| 60 | VRSK | VERISK ANALYTICS INC | 155950 | $39.2M | 0.32% | — |
| 61 | RTX | RTX CORPORATION | 224000 | $37.5M | 0.30% | — |
| 62 | HGTY | HAGERTY INC | 3108000 | $37.5M | 0.30% | — |
| 63 | COST | COSTCO WHSL CORP NEW | 39150 | $36.2M | 0.29% | — |
| 64 | YUM | YUM BRANDS INC | 226451 | $34.4M | 0.28% | — |
| 65 | FDS | FACTSET RESH SYS INC | 116720 | $33.4M | 0.27% | — |
| 66 | ALL-PJ | ALLSTATE CORP | 154550 | $33.2M | 0.27% | — |
| 67 | FERG | FERGUSON ENTERPRISES INC | 147000 | $33.0M | 0.27% | +9.3% |
| 68 | SHW | SHERWIN WILLIAMS CO | 94172 | $32.6M | 0.26% | — |
| 69 | TROW | PRICE T ROWE GROUP INC | 314000 | $32.2M | 0.26% | — |
| 70 | HCA | HCA HEALTHCARE INC | 75213 | $32.1M | 0.26% | +9.1% |
| 71 | NKE | NIKE INC | 447400 | $31.2M | 0.25% | — |
| 72 | LMT | LOCKHEED MARTIN CORP | 62263 | $31.1M | 0.25% | — |
| 73 | CMCSA | Comcast Corporation | 961880 | $30.2M | 0.25% | — |
| 74 | UNP | UNION PAC CORP | 126778 | $30.0M | 0.24% | 30.3% |
| 75 | URI | UNITED RENTALS INC | 31150 | $29.7M | 0.24% | — |
| 76 | ABNB | AIRBNB INC | 227133 | $27.6M | 0.22% | +7.1% |
| 77 | TMO | THERMO FISHER SCIENTIFIC INC | 55800 | $27.1M | 0.22% | +12.6% |
| 78 | CSCO | CISCO SYS INC | 355500 | $24.3M | 0.20% | +1.7% |
| 79 | BF-B | BROWN FORMAN CORP | 843000 | $22.7M | 0.18% | — |
| 80 | LAMR | LAMAR ADVERTISING CO NEW | 170000 | $20.8M | 0.17% | +7.6% |
| 81 | COF | Capital One Financial | 91000 | $19.3M | 0.16% | — |
| 82 | MAR | MARRIOTT INTL INC NEW | 73250 | $19.1M | 0.15% | +21.6% |
| 83 | PAYX | PAYCHEX INC | 150000 | $19.0M | 0.15% | — |
| 84 | EFX | EQUIFAX INC | 72850 | $18.7M | 0.15% | — |
| 85 | PM | PHILIP MORRIS INTL INC | 114500 | $18.6M | 0.15% | — |
| 86 | CCK | CROWN HLDGS INC | 189500 | $18.3M | 0.15% | — |
| 87 | SPOT | SPOTIFY TECHNOLOGY S A | 25900 | $18.1M | 0.15% | — |
| 88 | RNR-PG | RENAISSANCERE HLDGS LTD | 70000 | $17.8M | 0.14% | — |
| 89 | APD | AIR PRODS & CHEMS INC | 65000 | $17.7M | 0.14% | — |
| 90 | WFC | WELLS FARGO CO NEW | 204450 | $17.1M | 0.14% | — |
| 91 | SHOP | SHOPIFY INC | 102750 | $15.3M | 0.12% | — |
| 92 | SEIC | SEI INVTS CO | 173200 | $14.7M | 0.12% | — |
| 93 | CARR | CARRIER GLOBAL CORPORATION | 235000 | $14.0M | 0.11% | — |
| 94 | PEP | PEPSICO INC | 96210 | $13.5M | 0.11% | — |
| 95 | BNY | BANK NEW YORK MELLON CORP | 121500 | $13.2M | 0.11% | — |
| 96 | BF-B | BROWN FORMAN CORP | 474187 | $12.8M | 0.10% | — |
| 97 | CHH | CHOICE HOTELS INTL INC | 115500 | $12.3M | 0.10% | — |
| 98 | UBER | UBER TECHNOLOGIES INC | 123500 | $12.1M | 0.10% | — |
| 99 | TGT | TARGET CORP | 133000 | $11.9M | 0.10% | — |
| 100 | HXL | HEXCEL CORP NEW | 189000 | $11.9M | 0.10% | — |
| 101 | FIX | COMFORT SYS USA INC | 13000 | $10.7M | 0.09% | — |
| 102 | OTIS | OTIS WORLDWIDE CORP | 114620 | $10.5M | 0.09% | — |
| 103 | HSY | HERSHEY CO | 54500 | $10.2M | 0.08% | — |
| 104 | CSX | CSX CORP | 285000 | $10.1M | 0.08% | 338.5% |
| 105 | SNEJF | SONY GROUP CORP | 335000 | $9.6M | 0.08% | — |
| 106 | SMG | SCOTTS MIRACLE-GRO CO | 168000 | $9.6M | 0.08% | — |
| 107 | UNH | UNITEDHEALTH GROUP INC | 26500 | $9.2M | 0.07% | — |
| 108 | IQV | IQVIA HLDGS INC | 46900 | $8.9M | 0.07% | -5.5% |
| 109 | CME | CME GROUP INC | 32000 | $8.6M | 0.07% | +42.2% |
| 110 | TRU | TRANSUNION | 101050 | $8.5M | 0.07% | — |
| 111 | CBOE | CBOE GLOBAL MKTS INC | 28500 | $7.0M | 0.06% | +50.0% |
| 112 | NSP | INSPERITY INC | 131728 | $6.5M | 0.05% | — |
| 113 | KMX | CARMAX INC | 136500 | $6.1M | 0.05% | — |
| 114 | GHC | GRAHAM HLDGS CO | 5200 | $6.1M | 0.05% | — |
| 115 | HII | HUNTINGTON INGALLS INDS INC | 20500 | $5.9M | 0.05% | — |
| 116 | AMAT | APPLIED MATLS INC | 26250 | $5.4M | 0.04% | +59.1% |
| 117 | ADBE | ADOBE INC | 14000 | $4.9M | 0.04% | — |
| 118 | EMN | EASTMAN CHEM CO | 74950 | $4.7M | 0.04% | — |
| 119 | WRB | BERKLEY W R CORP | 60750 | $4.7M | 0.04% | — |
| 120 | EXP | EAGLE MATLS INC | 14750 | $3.4M | 0.03% | 63.9% |
| 121 | AYI | ACUITY INC | 9750 | $3.4M | 0.03% | — |
| 122 | MGM | MGM RESORTS INTERNATIONAL | 87500 | $3.0M | 0.02% | — |
| 123 | SYY | SYSCO CORP | 30500 | $2.5M | 0.02% | +27.1% |
| 124 | DPZ | DOMINOS PIZZA INC | 5500 | $2.4M | 0.02% | — |
| 125 | CNI | CANADIAN NATL RY CO | 25000 | $2.4M | 0.02% | NEW |
| 126 | CP | CANADIAN PACIFIC KANSAS CITY | 31000 | $2.3M | 0.02% | NEW |
| 127 | BC | BRUNSWICK CORP | 33500 | $2.1M | 0.02% | +13.6% |
| 128 | ICE | Intercontinental Exchange | 5620 | $947K | 0.01% | +9.8% |
| 129 | XOM | EXXON MOBIL CORP | 3000 | $338K | 0.00% | NEW |