Markel Group

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 3, 2024), Tom Gayner's Markel Group reported 131 stock positions worth $10.1 billion. Its top holding was Berkshire Hathaway Class A (BRK.A) at 7.0% of the portfolio, followed by Berkshire Hathaway Class B (BRK.B, 6.4%) and Alphabet Class C (GOOG, 4.1%). Compared with Q4 2023, it opened 5 new positions, sold out of 1, added to 42 and reduced 1. The biggest buy was Meta Platforms Class A (META, shares +1%) and the biggest sale Stericycle (SRCL, shares −94%).

Most Recent 13F
Q2 2026
Notable People
Tom Gayner
Location
Glen Allen, VA
CIK
0001096343
Portfolio Value
$10.1B (Q1 2024)
SEC Filing
0001096343-24-000058 ↗ filed May 3, 2024

Holdings Value

0$5.0B$10.0B$15.0B Q1 2024: $10.1B $10.1B Q1 2024 Q2 2024: $10.2B Q2 2024 Q3 2024: $11.1B Q3 2024 Q4 2024: $11.3B Q4 2024 Q1 2025: $11.3B Q1 2025 Q2 2025: $11.8B Q2 2025 Q3 2025: $12.3B Q3 2025 Q4 2025: $12.5B Q4 2025 Q1 2026: $11.9B Q1 2026 Q2 2026: $13.1B Q2 2026

Holdings 131 stocks · $10.1B
BRK.A Berkshire Hathaway Inc. Class A 6.97% 1,114 $706.8M No change
BRK.B Berkshire Hathaway Inc. Class B 6.35% 1,531,971 $644.2M No change
GOOG Alphabet Inc. Class C 4.13% 2,749,860 $418.7M No change
AMZN Amazon.com Inc. 3.61% 2,030,760 $366.3M No change
BN Brookfield Corp. 3.60% 8,715,741 $364.9M No change
HD Home Depot Inc. 3.48% 920,000 $352.9M No change
DE Deere & Co. 3.34% 823,800 $338.4M Add +3.3%
V Visa Inc. Class A 2.75% 999,285 $278.9M No change
NVO Novo-Nordisk A/S-Spons ADR 2.72% 2,150,000 $276.1M No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 2.45% 2,031,665 $248.6M No change
WSO Watsco Inc. 2.41% 566,250 $244.6M Add +1.7%
ADI Analog Devices Inc. 2.28% 1,167,471 $230.9M Add +0.3%
MSFT Microsoft Corp. 2.09% 502,830 $211.6M Add +0.9%
AAPL Apple Inc. 2.08% 1,227,190 $210.4M Add +0.1%
DEO Diageo PLC-Sponsored ADR 2.00% 1,360,408 $202.3M Add +0.4%
BLK BlackRock Finance Inc. 1.81% 220,200 $183.6M No change
RLI Rli Corp. 1.75% 1,197,272 $177.8M No change
LOW Lowe's Cos Inc. 1.67% 663,480 $169.0M Add +1.0%
BX Blackstone Inc. 1.59% 1,229,000 $161.5M No change
PGR Progressive Corp. 1.54% 753,750 $155.9M No change
GS Goldman Sachs Group Inc. 1.48% 359,360 $150.1M No change
KKR KKR & Co. Inc. 1.44% 1,451,800 $146.0M No change
MRSH Marsh & McLennan Cos 1.41% 694,000 $143.0M Add +1.4%
META Meta Platforms Inc. Class A 1.28% 267,681 $130.0M Add +1.1%
TXN Texas Instruments Inc. 1.24% 724,000 $126.1M No change
LPLA LPL Financial Holdings Inc. 1.18% 454,291 $120.0M Add +6.5%
APO Apollo Global Management Inc. 1.12% 1,012,500 $113.9M No change
CAT Caterpillar Inc. 1.11% 307,600 $112.7M Add +1.5%
GD General Dynamics Corp. 1.09% 391,000 $110.5M No change
AXP American Express Co. 1.09% 484,250 $110.3M No change
DG Dollar General Corp. 1.04% 675,250 $105.4M Add +3.2%
MA Mastercard Inc. Class A 0.99% 207,540 $99.9M No change
SCHW Schwab (charles) Corp. 0.97% 1,353,766 $97.9M Add +1.4%
JNJ Johnson & Johnson 0.95% 610,800 $96.6M No change
BAM Brookfield Asset Mgmt-A 0.91% 2,193,953 $92.2M No change
NVR NVR Inc. 0.91% 11,349 $91.9M Add +2.0%
ADM Archer-Daniels-Midland Co. 0.91% 1,463,300 $91.9M No change
ITW Illinois Tool Works 0.87% 327,500 $87.9M No change
MCO Moody's Corp. 0.83% 213,890 $84.1M No change
GOOGL Alphabet Inc. Class A 0.83% 555,000 $83.8M No change
MSCI MSCI Inc. 0.79% 142,850 $80.1M No change
ROL Rollins Inc. 0.65% 1,426,275 $66.0M Add +1.4%
SPGI S&P Global Inc. 0.63% 150,690 $64.1M No change
ECL Ecolab Inc. 0.62% 274,300 $63.3M No change
CG The Carlyle Group Inc. 0.61% 1,327,000 $62.2M No change
LIN Linde PLC 0.60% 131,500 $61.1M Add +4.2%
NSC Norfolk Southern Corp. 0.58% 229,500 $58.5M No change
HEI.A Heico Corp. Class A 0.58% 379,644 $58.4M No change
ACN Accenture PLC Class A 0.54% 159,400 $55.2M No change
FDS Factset Research Systems Inc. 0.52% 116,720 $53.0M No change
JPM JPMorgan Chase & Co. 0.50% 252,550 $50.6M No change
SBUX Starbucks Corp. 0.49% 541,318 $49.5M Add +1.7%
FDX FedEx Corp. 0.48% 168,000 $48.7M Add +7.3%
CMCSA Comcast Corp. Class A 0.46% 1,072,241 $46.5M Add +1.1%
TSN Tyson Foods Inc. Class A 0.45% 777,500 $45.7M Add +11.5%
ROK Rockwell Automation Inc. 0.45% 154,900 $45.1M No change
BF.A Brown-Forman Corp. Class A 0.44% 843,000 $44.6M No change
ODFL Old Dominion Freight Line 0.42% 195,000 $42.8M Add +7.1%
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 0.38% 314,000 $38.3M No change
AON Aon PLC Class A 0.36% 110,050 $36.7M Add +4.5%
NKE Nike Inc. Class B 0.35% 375,900 $35.3M Add +1.9%
ITIC Investors Title Co. 0.34% 213,300 $34.8M No change
WHR Whirlpool Corp. 0.33% 282,049 $33.7M No change
SHW The Sherwin-Williams Co. 0.32% 94,172 $32.7M No change
MMM 3M Co. 0.31% 293,750 $31.2M No change
THG Hanover Insurance Group Inc./ 0.30% 227,000 $30.9M Add +6.1%
VRSK Verisk Analytics Inc. 0.30% 127,200 $30.0M Add +5.4%
COST Costco Wholesale Corp. 0.28% 39,150 $28.7M No change
HGTY Hagerty Inc. Class A 0.27% 3,000,000 $27.4M No change
ALL Allstate Corp. 0.26% 154,550 $26.7M No change
CVS CVS Health Corp. 0.26% 332,000 $26.5M No change
EFX Equifax Inc. 0.26% 97,850 $26.2M No change
LMT Lockheed Martin Corp. 0.25% 56,363 $25.6M No change
BF.B Brown-Forman Corp. Class B 0.24% 474,187 $24.5M No change
TGT Target Corp. 0.23% 133,000 $23.6M Add +9.9%
RTX RTX Corp. 0.22% 224,000 $21.8M No change
UNP Union Pacific Corp. 0.21% 85,778 $21.1M No change
CABO Cable One Inc. 0.20% 48,100 $20.4M Add +8.8%
PAYX Paychex Inc. 0.18% 150,000 $18.4M No change
CSCO Cisco Systems Inc. 0.17% 342,000 $17.1M No change
PEP Pepsico Inc. 0.17% 96,210 $16.8M No change
RNR Renaissancere Holdings Ltd. 0.16% 70,000 $16.5M Add +15.7%
CCK Crown Holdings Inc. 0.15% 189,500 $15.0M No change
TMO Thermo Fisher Scientific Inc. 0.14% 24,700 $14.4M Add +26.0%
IQV Iqvia Holdings Inc. 0.14% 55,726 $14.1M Add +10.1%
HXL Hexcel Corp. 0.14% 189,000 $13.8M No change
CARR Carrier Global Corp. 0.13% 235,000 $13.7M No change
COF Capital One Financial Corp. 0.13% 91,000 $13.5M No change
CE Celanese Corp. 0.13% 77,800 $13.4M No change
FERG Ferguson Jersey Ltd. 0.12% 57,500 $12.6M Add +49.4%
SMG Scotts Miracle-Gro Co. 0.12% 168,000 $12.5M Add +7.7%
SEIC Sei Investments Company 0.12% 173,200 $12.5M No change
WFC Wells Fargo & Co. 0.12% 204,450 $11.8M No change
OTIS Otis Worldwide Corp. 0.11% 114,620 $11.4M No change
URI United Rentals Inc. 0.11% 15,500 $11.2M Add +72.2%
KMX Carmax Inc. 0.11% 123,500 $10.8M Add +11.8%
EA Electronic Arts Inc. 0.11% 80,800 $10.7M No change
CHH Choice Hotels Intl Inc. 0.11% 84,500 $10.7M Add +37.4%
PM Philip Morris International 0.10% 114,500 $10.5M No change
AMT American Tower Corp. 0.10% 51,910 $10.3M No change
LAMR Lamar Advertising Co. Class A 0.09% 77,000 $9.2M Add +24.2%
OI O-I Glass Inc. 0.09% 539,100 $8.9M Add +14.9%
CBRL Cracker Barrel Old Country 0.08% 111,000 $8.1M No change
TRU Transunion 0.08% 101,050 $8.1M No change
UNH Unitedhealth Group Inc. 0.08% 16,100 $8.0M Add +46.4%
SHOP Shopify Inc. Class A 0.08% 102,750 $7.9M No change
EMN Eastman Chemical Co. 0.07% 74,950 $7.5M No change
HCA HCA Healthcare Inc. 0.07% 21,432 $7.1M Add +51.6%
GPK Graphic Packaging Holding Co. 0.07% 240,824 $7.0M Add +98.0%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.07% 121,500 $7.0M No change
SPOT Spotify Technology SA 0.07% 25,900 $6.8M No change
SONY Sony Group Corp. - SP ADR 0.06% 67,000 $5.7M No change
UBER Uber Technologies Inc. 0.04% 58,000 $4.5M Add +28.9%
FIX Comfort Systems USA Inc. 0.04% 13,000 $4.1M Add +1200.0%
GHC Graham Holdings Co. Class B 0.04% 5,200 $4.0M No change
APD Air Products & Chemicals Inc. 0.04% 15,000 $3.6M New
WRB WR Berkley Corp. filed as BERKLEY W R CORP 0.04% 40,500 $3.6M No change
BALL Ball Corp. 0.03% 51,000 $3.4M No change
IT Gartner Inc. 0.03% 5,700 $2.7M No change
BNT Brookfield Reins Ltd. 0.02% 60,101 $2.5M No change
WTW Willis Towers Watson PLC 0.02% 8,627 $2.4M No change
MAR Marriott International Class A 0.02% 9,000 $2.3M New
YUM Yum! Brands Inc. 0.02% 16,152 $2.2M New
SRCL Stericycle Inc. 0.02% 38,000 $2.0M Reduce -94.3%
NSP Insperity Inc. 0.02% 16,876 $1.8M New
HSY The Hershey Co. 0.02% 9,500 $1.8M New
CSGP Costar Group Inc. 0.02% 18,600 $1.8M No change
INTU Intuit Inc. 0.02% 2,720 $1.8M No change
DNB Dun & Bradstreet Holdings Inc. 0.01% 115,000 $1.2M No change
ICE Intercontinental Exchange Inc. 0.01% 5,120 $704K No change
BUD Anheuser-Busch Inbev-SPN ADR 0.01% 11,000 $669K No change
Other holdings (1): bonds, preferreds, convertibles and warrants · $1.1M (not counted above)
SecurityClassShares / PrincipalValueChange
HAGERTY INC *W EXP 12/02/202 540,000$1.1MNo change

Total filed on the 13F, all lines: $10.1B.

Portfolio Sells Q4 2023 → Q1 2024
SRCL Stericycle Inc. Reduce -94.3% 0.02% −0.34
IFF Intl Flavors & Fragrances Sold out 0.00% −0.02

Portfolio Buys Q4 2023 → Q1 2024
META Meta Platforms Inc. Class A Add +1.1% 1.28% +0.26
CAT Caterpillar Inc. Add +1.5% 1.11% +0.14
LPLA LPL Financial Holdings Inc. Add +6.5% 1.18% +0.13
LOW Lowe's Cos Inc. Add +1.0% 1.67% +0.08
DG Dollar General Corp. Add +3.2% 1.04% +0.07
NVR NVR Inc. Add +2.0% 0.91% +0.06
URI United Rentals Inc. Add +72.2% 0.11% +0.05
FDX FedEx Corp. Add +7.3% 0.48% +0.05
MSFT Microsoft Corp. Add +0.9% 2.09% +0.05
TGT Target Corp. Add +9.9% 0.23% +0.05
FERG Ferguson Jersey Ltd. Add +49.4% 0.12% +0.04
TSN Tyson Foods Inc. Class A Add +11.5% 0.45% +0.04
LIN Linde PLC Add +4.2% 0.60% +0.04
FIX Comfort Systems USA Inc. Add +1200.0% 0.04% +0.04
GPK Graphic Packaging Holding Co. Add +98.0% 0.07% +0.04
APD Air Products & Chemicals Inc. New 0.04% +0.04
RNR Renaissancere Holdings Ltd. Add +15.7% 0.16% +0.03
CHH Choice Hotels Intl Inc. Add +37.4% 0.11% +0.03
HCA HCA Healthcare Inc. Add +51.6% 0.07% +0.03
AON Aon PLC Class A Add +4.5% 0.36% +0.03
TMO Thermo Fisher Scientific Inc. Add +26.0% 0.14% +0.03
THG Hanover Insurance Group Inc./ Add +6.1% 0.30% +0.02
MAR Marriott International Class A New 0.02% +0.02
YUM Yum! Brands Inc. New 0.02% +0.02
ODFL Old Dominion Freight Line Add +7.1% 0.42% +0.02
LAMR Lamar Advertising Co. Class A Add +24.2% 0.09% +0.02
HSY The Hershey Co. New 0.02% +0.02
NSP Insperity Inc. New 0.02% +0.02
UNH Unitedhealth Group Inc. Add +46.4% 0.08% +0.02
SMG Scotts Miracle-Gro Co. Add +7.7% 0.12% +0.02
KMX Carmax Inc. Add +11.8% 0.11% +0.01
UBER Uber Technologies Inc. Add +28.9% 0.04% +0.01
IQV Iqvia Holdings Inc. Add +10.1% 0.14% +0.01
OI O-I Glass Inc. Add +14.9% 0.09% +0.00
MRSH Marsh & McLennan Cos Add +1.4% 1.41% −0.00
ROL Rollins Inc. Add +1.4% 0.65% −0.02
VRSK Verisk Analytics Inc. Add +5.4% 0.30% −0.02
SCHW Schwab (charles) Corp. Add +1.4% 0.97% −0.03
CMCSA Comcast Corp. Class A Add +1.1% 0.46% −0.05
CABO Cable One Inc. Add +8.8% 0.20% −0.07
SBUX Starbucks Corp. Add +1.7% 0.49% −0.07
NKE Nike Inc. Class B Add +1.9% 0.35% −0.09
DE Deere & Co. Add +3.3% 3.34% −0.13
DEO Diageo PLC-Sponsored ADR Add +0.4% 2.00% −0.15
WSO Watsco Inc. Add +1.7% 2.41% −0.18
ADI Analog Devices Inc. Add +0.3% 2.28% −0.24
AAPL Apple Inc. Add +0.1% 2.08% −0.49

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 130$13.1BGOOG, BRK.A, BRK.B, DE, BN
Q1 2026 129$11.9BBRK.A, GOOG, BRK.B, BN, DE
Q4 2025 128$12.5BGOOG, BRK.A, BRK.B, BN, AMZN
Q3 2025 129$12.3BBRK.A, BRK.B, GOOG, BN, AMZN
Q2 2025 137$11.8BBRK.A, BRK.B, BN, GOOG, DE
Q1 2025 135$11.3BBRK.A, BRK.B, BN, GOOG, DE
Q4 2024 132$11.3BBRK.A, BRK.B, GOOG, BN, AMZN
Q3 2024 132$11.1BBRK.A, BRK.B, BN, GOOG, AMZN
Q2 2024 133$10.2BBRK.A, BRK.B, GOOG, AMZN, BN
Q1 2024 131$10.1BBRK.A, BRK.B, GOOG, AMZN, BN