Markel Group

In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 1, 2024), Tom Gayner's Markel Group reported 132 stock positions worth $11.1 billion. Its top holding was Berkshire Hathaway Class A (BRK.A) at 6.9% of the portfolio, followed by Berkshire Hathaway Class B (BRK.B, 6.3%) and Brookfield (BN, 4.2%). Compared with Q2 2024, it opened 5 new positions, sold out of 6, added to 37 and reduced 4. The biggest buy was a new position in RTX and the biggest sale an exit from RTX (RTX).

Most Recent 13F
Q2 2026
Notable People
Tom Gayner
Location
Glen Allen, VA
CIK
0001096343
Portfolio Value
$11.1B (Q3 2024)
SEC Filing
0001096343-24-000124 ↗ filed Nov 1, 2024

Holdings Value

0$5.0B$10.0B$15.0B Q1 2024: $10.1B Q1 2024 Q2 2024: $10.2B Q2 2024 Q3 2024: $11.1B $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 132 stocks · $11.1B
BRK.A Berkshire Hathaway Inc. Class A 6.93% 1,114 $770.0M No change
BRK.B Berkshire Hathaway Inc. Class B 6.35% 1,531,971 $705.1M No change
BN Brookfield Corp. 4.17% 8,715,741 $463.2M No change
GOOG Alphabet Inc. Class C 4.14% 2,749,860 $459.7M No change
AMZN Amazon.com Inc. 3.41% 2,030,760 $378.4M No change
HD Home Depot Inc. 3.36% 920,000 $372.8M No change
DE Deere & Co. 3.26% 869,100 $362.7M Add +2.8%
WSO Watsco Inc. 2.58% 582,500 $286.5M Add +2.0%
AAPL Apple Inc. 2.57% 1,227,290 $286.0M No change
V Visa Inc. Class A 2.47% 999,285 $274.8M No change
ADI Analog Devices Inc. 2.42% 1,167,671 $268.8M No change
NVO Novo-Nordisk A/S-Spons ADR 2.30% 2,150,000 $256.0M No change
MSFT Microsoft Corp. 1.99% 514,980 $221.6M Add +1.5%
BLK BlackRock Finance Inc. 1.88% 220,200 $209.1M No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 1.76% 2,031,665 $195.4M No change
DEO Diageo PLC-Sponsored ADR 1.73% 1,366,708 $191.8M No change
PGR Progressive Corp. 1.72% 753,750 $191.3M No change
KKR KKR & Co. Inc. 1.71% 1,451,800 $189.6M No change
BX Blackstone Inc. 1.69% 1,229,000 $188.2M No change
LOW Lowe's Cos Inc. 1.68% 690,480 $187.0M Add +2.1%
RLI Rli Corp. 1.67% 1,197,272 $185.6M No change
GS Goldman Sachs Group Inc. 1.60% 359,360 $177.9M No change
MRSH Marsh & McLennan Cos 1.45% 722,500 $161.2M Add +2.3%
META Meta Platforms Inc. Class A 1.42% 275,231 $157.6M Add +1.6%
TXN Texas Instruments Inc. 1.35% 724,000 $149.6M No change
AXP American Express Co. 1.18% 484,250 $131.3M No change
APO Apollo Global Management Inc. 1.14% 1,012,500 $126.5M No change
CAT Caterpillar Inc. 1.12% 318,750 $124.7M Add +2.3%
LPLA LPL Financial Holdings Inc. 1.09% 520,404 $121.1M Add +8.0%
GD General Dynamics Corp. 1.06% 391,000 $118.2M No change
NVR NVR Inc. 1.03% 11,704 $114.8M Add +1.5%
BAM Brookfield Asset Mgmt-A 0.93% 2,193,953 $103.8M No change
MA Mastercard Inc. Class A 0.92% 207,540 $102.5M No change
MCO Moody's Corp. 0.91% 213,890 $101.5M No change
JNJ Johnson & Johnson 0.89% 610,800 $99.0M No change
GOOGL Alphabet Inc. Class A 0.83% 555,000 $92.0M No change
SCHW Schwab (charles) Corp. 0.79% 1,350,800 $87.5M Reduce -1.2%
ADM Archer-Daniels-Midland Co. 0.79% 1,463,300 $87.4M No change
ITW Illinois Tool Works 0.77% 327,500 $85.8M No change
MSCI MSCI Inc. 0.75% 142,850 $83.3M No change
SPGI S&P Global Inc. 0.70% 150,690 $77.8M No change
HEI.A Heico Corp. Class A 0.70% 379,644 $77.4M No change
LIN Linde PLC 0.67% 155,000 $73.9M Add +8.0%
ROL Rollins Inc. 0.66% 1,453,275 $73.5M Add +1.0%
ECL Ecolab Inc. 0.63% 274,300 $70.0M No change
DG Dollar General Corp. 0.56% 742,250 $62.8M Add +6.5%
ODFL Old Dominion Freight Line 0.53% 295,000 $58.6M Add +5.5%
SBUX Starbucks Corp. 0.53% 600,318 $58.5M Add +5.6%
CG The Carlyle Group Inc. 0.51% 1,327,000 $57.1M No change
NSC Norfolk Southern Corp. 0.51% 229,500 $57.0M No change
ACN Accenture PLC Class A 0.51% 159,400 $56.3M No change
FDS Factset Research Systems Inc. 0.48% 116,720 $53.7M No change
FDX FedEx Corp. 0.48% 195,000 $53.4M Add +7.7%
JPM JPMorgan Chase & Co. 0.48% 252,550 $53.3M No change
ITIC Investors Title Co. 0.44% 213,300 $49.0M No change
TSN Tyson Foods Inc. Class A 0.42% 789,500 $47.0M Add +0.5%
CMCSA Comcast Corp. Class A 0.41% 1,081,241 $45.2M No change
FNV Franco-Nevada Corp. 0.39% 345,500 $42.9M Add +41.0%
ROK Rockwell Automation Inc. 0.37% 154,900 $41.6M No change
AON Aon PLC Class A 0.37% 120,150 $41.6M Add +5.4%
BF.A Brown-Forman Corp. Class A 0.36% 843,000 $40.5M No change
MMM 3M Co. 0.36% 293,750 $40.2M No change
VRSK Verisk Analytics Inc. 0.35% 144,950 $38.8M Add +8.4%
NKE Nike Inc. Class B 0.34% 428,900 $37.9M Add +10.3%
THG Hanover Insurance Group Inc./ 0.34% 254,000 $37.6M Add +5.8%
SHW The Sherwin-Williams Co. 0.32% 94,172 $35.9M No change
COST Costco Wholesale Corp. 0.31% 39,150 $34.7M No change
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 0.31% 314,000 $34.2M No change
LMT Lockheed Martin Corp. 0.30% 56,363 $32.9M No change
HGTY Hagerty Inc. Class A 0.27% 3,000,000 $30.5M No change
ALL Allstate Corp. 0.26% 154,550 $29.3M No change
RTX CORPORATION 0.24% 224,000 $27.1M New
BF.B Brown-Forman Corp. Class B 0.21% 474,187 $23.3M No change
TMO Thermo Fisher Scientific Inc. 0.20% 35,400 $21.9M Add +20.4%
YUM Yum! Brands Inc. 0.20% 156,502 $21.9M Add +80.9%
EFX Equifax Inc. 0.19% 72,850 $21.4M Reduce -25.6%
UNP Union Pacific Corp. 0.19% 85,778 $21.1M No change
URI United Rentals Inc. 0.19% 25,950 $21.0M Add +17.9%
CABO Cable One Inc. 0.19% 60,050 $21.0M Add +11.6%
TGT Target Corp. 0.19% 133,000 $20.7M No change
HCA HCA Healthcare Inc. 0.19% 50,930 $20.7M Add +45.1%
PAYX Paychex Inc. 0.18% 150,000 $20.1M No change
RNR Renaissancere Holdings Ltd. 0.17% 70,000 $19.1M No change
CARR Carrier Global Corp. 0.17% 235,000 $18.9M No change
CSCO Cisco Systems Inc. 0.16% 342,000 $18.2M No change
CCK Crown Holdings Inc. 0.16% 189,500 $18.2M No change
WHR Whirlpool Corp. 0.15% 157,619 $16.9M Reduce -44.1%
FERG Ferguson Enterprises Inc. 0.15% 84,500 $16.8M Add +19.9%
PEP Pepsico Inc. 0.15% 96,210 $16.4M No change
APD Air Products & Chemicals Inc. 0.14% 52,000 $15.5M Add +36.8%
CHH Choice Hotels Intl Inc. 0.14% 115,500 $15.0M Add +4.5%
LAMR Lamar Advertising Co. Class A 0.13% 111,000 $14.8M Add +18.1%
SMG Scotts Miracle-Gro Co. 0.13% 168,000 $14.6M No change
UNH Unitedhealth Group Inc. 0.13% 24,064 $14.1M Add +15.6%
IQV Iqvia Holdings Inc. 0.13% 58,726 $13.9M No change
PM Philip Morris International 0.13% 114,500 $13.9M No change
COF Capital One Financial Corp. 0.12% 91,000 $13.6M No change
AMT American Tower Corp. 0.11% 51,910 $12.1M No change
SEIC Sei Investments Company 0.11% 173,200 $12.0M No change
OTIS Otis Worldwide Corp. 0.11% 114,620 $11.9M No change

Show all 132 holdings

Portfolio Sells Q2 2024 → Q3 2024
RTX RTX Corp. Sold out 0.00% −0.22
SCHW Schwab (charles) Corp. Reduce -1.2% 0.79% −0.20
WHR Whirlpool Corp. Reduce -44.1% 0.15% −0.13
EA Electronic Arts Inc. Sold out 0.00% −0.07
CBRL Cracker Barrel Old Country Sold out 0.00% −0.05
EFX Equifax Inc. Reduce -25.6% 0.19% −0.04
SOLV Solventum Corp. Reduce -99.0% 0.00% −0.04
CVS CVS Health Corp. Sold out 0.00% −0.03
BNT Brookfield Reins Ltd. Sold out 0.00% −0.02
ULS Ul Solutions Inc. Class A Sold out 0.00% −0.01

Portfolio Buys Q2 2024 → Q3 2024
RTX CORPORATION New 0.24% +0.24
LOW Lowe's Cos Inc. Add +2.1% 1.68% +0.22
NVR NVR Inc. Add +1.5% 1.03% +0.17
DE Deere & Co. Add +2.8% 3.26% +0.16
CAT Caterpillar Inc. Add +2.3% 1.12% +0.10
FNV Franco-Nevada Corp. Add +41.0% 0.39% +0.10
SBUX Starbucks Corp. Add +5.6% 0.53% +0.09
YUM Yum! Brands Inc. Add +80.9% 0.20% +0.08
HCA HCA Healthcare Inc. Add +45.1% 0.19% +0.08
META Meta Platforms Inc. Class A Add +1.6% 1.42% +0.07
NKE Nike Inc. Class B Add +10.3% 0.34% +0.05
URI United Rentals Inc. Add +17.9% 0.19% +0.05
LIN Linde PLC Add +8.0% 0.67% +0.05
AON Aon PLC Class A Add +5.4% 0.37% +0.04
APD Air Products & Chemicals Inc. Add +36.8% 0.14% +0.04
THG Hanover Insurance Group Inc./ Add +5.8% 0.34% +0.04
ODFL Old Dominion Freight Line Add +5.5% 0.53% +0.04
TMO Thermo Fisher Scientific Inc. Add +20.4% 0.20% +0.04
MAR Marriott International Class A Add +63.6% 0.08% +0.03
HSY The Hershey Co. Add +67.4% 0.06% +0.02
LAMR Lamar Advertising Co. Class A Add +18.1% 0.13% +0.02
UNH Unitedhealth Group Inc. Add +15.6% 0.13% +0.02
OI O-I Glass Inc. Add +20.8% 0.10% +0.02
ABNB Airbnb Inc. Class A New 0.02% +0.02
GPK Graphic Packaging Holding Co. Add +17.9% 0.11% +0.02
DPZ Domino's Pizza Inc. New 0.02% +0.02
FERG Ferguson Enterprises Inc. Add +19.9% 0.15% +0.02
EL Estee Lauder Companies Class A New 0.01% +0.01
BC Brunswick Corp. New 0.01% +0.01
UBER Uber Technologies Inc. Add +23.9% 0.06% +0.01
NSP Insperity Inc. Add +32.6% 0.06% +0.01
CHH Choice Hotels Intl Inc. Add +4.5% 0.14% +0.01
CABO Cable One Inc. Add +11.6% 0.19% +0.00
VRSK Verisk Analytics Inc. Add +8.4% 0.35% −0.01
MRSH Marsh & McLennan Cos Add +2.3% 1.45% −0.01
TSN Tyson Foods Inc. Class A Add +0.5% 0.42% −0.02
WSO Watsco Inc. Add +2.0% 2.58% −0.02
ROL Rollins Inc. Add +1.0% 0.66% −0.03
FDX FedEx Corp. Add +7.7% 0.48% −0.05
LPLA LPL Financial Holdings Inc. Add +8.0% 1.09% −0.23
MSFT Microsoft Corp. Add +1.5% 1.99% −0.24
DG Dollar General Corp. Add +6.5% 0.56% −0.34

Notes & Other Activity Q2 2024 → Q3 2024
HAGERTY INC *W EXP 12/02/202 Sold out 540,000 $1.1Mbefore exit

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

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