Markel Group

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 7, 2025), Tom Gayner's Markel Group reported 132 stock positions worth $11.3 billion. Its top holding was Berkshire Hathaway Class A (BRK.A) at 6.7% of the portfolio, followed by Berkshire Hathaway Class B (BRK.B, 6.1%) and Alphabet Class C (GOOG, 4.6%). Compared with Q3 2024, it opened 5 new positions, sold out of 5, added to 43 and reduced 2. The biggest buy was LPL Financial (LPLA, shares +2%) and the biggest sale an exit from RTX.

Most Recent 13F
Q2 2026
Notable People
Tom Gayner
Location
Glen Allen, VA
CIK
0001096343
Portfolio Value
$11.3B (Q4 2024)
SEC Filing
0001096343-25-000011 ↗ filed Feb 7, 2025

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 Q3 2024 Q4 2024: $11.3B $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 · $11.3B
BRK.A Berkshire Hathaway Inc. Class A 6.69% 1,114 $758.5M No change
BRK.B Berkshire Hathaway Inc. Class B 6.12% 1,531,971 $694.4M No change
GOOG Alphabet Inc. Class C 4.62% 2,749,860 $523.7M No change
BN Brookfield Corp. 4.41% 8,715,741 $500.7M No change
AMZN Amazon.com Inc. 3.93% 2,030,760 $445.5M No change
DE Deere & Co. 3.27% 874,950 $370.7M Add +0.7%
HD Home Depot Inc. 3.15% 920,000 $357.9M No change
V Visa Inc. Class A 2.78% 999,285 $315.8M No change
AAPL Apple Inc. 2.71% 1,227,290 $307.3M No change
WSO Watsco Inc. 2.47% 590,500 $279.8M Add +1.4%
ADI Analog Devices Inc. 2.19% 1,167,671 $248.1M No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 1.99% 2,031,665 $226.2M No change
BLK BlackRock Inc. 1.99% 220,200 $225.7M No change
MSFT Microsoft Corp. 1.93% 519,480 $219.0M Add +0.9%
KKR KKR & Co. Inc. 1.89% 1,451,800 $214.7M No change
BX Blackstone Inc. 1.87% 1,229,000 $211.9M No change
GS Goldman Sachs Group Inc. 1.81% 359,360 $205.8M No change
RLI Rli Corp. 1.74% 1,197,272 $197.3M No change
NVO Novo-Nordisk A/S-Spons ADR 1.63% 2,150,000 $184.9M No change
PGR Progressive Corp. 1.59% 753,750 $180.6M No change
LPLA LPL Financial Holdings Inc. 1.53% 532,404 $173.8M Add +2.3%
DEO Diageo PLC-Sponsored ADR 1.53% 1,366,708 $173.7M No change
LOW Lowe's Cos Inc. 1.53% 701,480 $173.1M Add +1.6%
APO Apollo Global Management Inc. 1.47% 1,012,500 $167.2M No change
META Meta Platforms Inc. Class A 1.44% 278,381 $163.0M Add +1.1%
MRSH Marsh & McLennan Cos 1.38% 735,500 $156.2M Add +1.8%
AXP American Express Co. 1.27% 484,250 $143.7M No change
TXN Texas Instruments Inc. 1.20% 724,000 $135.8M No change
BAM Brookfield Asset Mgmt-A 1.05% 2,193,953 $118.9M No change
CAT Caterpillar Inc. 1.04% 324,800 $117.8M Add +1.9%
MA Mastercard Inc. Class A 0.96% 207,540 $109.3M No change
GOOGL Alphabet Inc. Class A 0.93% 555,000 $105.1M No change
GD General Dynamics Corp. 0.91% 391,000 $103.0M No change
MCO Moody's Corp. 0.89% 213,890 $101.2M No change
SCHW Schwab (charles) Corp. 0.89% 1,363,800 $100.9M Add +1.0%
NVR NVR Inc. 0.85% 11,814 $96.6M Add +0.9%
JNJ Johnson & Johnson 0.78% 610,800 $88.3M No change
MSCI MSCI Inc. 0.76% 142,850 $85.7M No change
ITW Illinois Tool Works 0.73% 327,500 $83.0M No change
SPGI S&P Global Inc. 0.66% 150,690 $75.0M No change
ADM Archer-Daniels-Midland Co. 0.66% 1,474,300 $74.5M Add +0.8%
HEI.A Heico Corp. Class A 0.62% 379,644 $70.6M No change
LIN Linde PLC 0.62% 168,000 $70.3M Add +8.4%
ROL Rollins Inc. 0.60% 1,462,275 $67.8M Add +0.6%
CG The Carlyle Group Inc. 0.59% 1,327,000 $67.0M No change
ECL Ecolab Inc. 0.57% 274,300 $64.3M No change
DG Dollar General Corp. 0.56% 835,750 $63.4M Add +12.6%
JPM JPMorgan Chase & Co. 0.53% 252,550 $60.5M No change
FDX FedEx Corp. 0.51% 206,500 $58.1M Add +5.9%
FNV Franco-Nevada Corp. 0.50% 483,250 $56.8M Add +39.9%
SBUX Starbucks Corp. 0.50% 617,318 $56.3M Add +2.8%
ACN Accenture PLC Class A 0.49% 159,400 $56.1M No change
FDS Factset Research Systems Inc. 0.49% 116,720 $56.1M No change
NSC Norfolk Southern Corp. 0.47% 229,500 $53.9M No change
ODFL Old Dominion Freight Line 0.47% 300,700 $53.0M Add +1.9%
ITIC Investors Title Co. 0.45% 213,300 $50.5M No change
TSN Tyson Foods Inc. Class A 0.40% 798,500 $45.9M Add +1.1%
AON Aon PLC Class A 0.40% 126,200 $45.3M Add +5.0%
ROK Rockwell Automation Inc. 0.39% 154,900 $44.3M No change
VRSK Verisk Analytics Inc. 0.38% 155,950 $43.0M Add +7.6%
THG Hanover Insurance Group Inc./ 0.36% 267,000 $41.3M Add +5.1%
MMM 3M Co. 0.33% 293,750 $37.9M No change
CMCSA Comcast Corp. Class A 0.32% 961,880 $36.1M Reduce -11.0%
COST Costco Wholesale Corp. 0.32% 39,150 $35.9M No change
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 0.31% 314,000 $35.5M No change
NKE Nike Inc. Class B 0.29% 432,400 $32.7M Add +0.8%
SHW The Sherwin-Williams Co. 0.28% 94,172 $32.0M No change
BF.A Brown-Forman Corp. Class A 0.28% 843,000 $31.8M No change
HGTY Hagerty Inc. Class A 0.26% 3,108,000 $30.0M Add +3.6%
ALL Allstate Corp. 0.26% 154,550 $29.8M No change
YUM Yum! Brands Inc. 0.24% 205,502 $27.6M Add +31.3%
LMT Lockheed Martin Corp. 0.24% 56,363 $27.4M No change
RTX RTX Corp. 0.23% 224,000 $25.9M New
TMO Thermo Fisher Scientific Inc. 0.19% 41,100 $21.4M Add +16.1%
PAYX Paychex Inc. 0.19% 150,000 $21.0M No change
URI United Rentals Inc. 0.18% 29,650 $20.9M Add +14.3%
CSCO Cisco Systems Inc. 0.18% 342,000 $20.2M No change
UNP Union Pacific Corp. 0.17% 85,778 $19.6M No change
APD Air Products & Chemicals Inc. 0.16% 64,500 $18.7M Add +24.0%
EFX Equifax Inc. 0.16% 72,850 $18.6M No change
CABO Cable One Inc. 0.16% 50,900 $18.4M Reduce -15.2%
FERG Ferguson Enterprises Inc. 0.16% 106,000 $18.4M Add +25.4%
BF.B Brown-Forman Corp. Class B 0.16% 474,187 $18.0M No change
TGT Target Corp. 0.16% 133,000 $18.0M No change
RNR Renaissancere Holdings Ltd. 0.15% 70,000 $17.4M No change
HCA HCA Healthcare Inc. 0.15% 56,580 $17.0M Add +11.1%
CHH Choice Hotels Intl Inc. 0.14% 115,500 $16.4M No change
COF Capital One Financial Corp. 0.14% 91,000 $16.2M No change
CARR Carrier Global Corp. 0.14% 235,000 $16.0M No change
CCK Crown Holdings Inc. 0.14% 189,500 $15.7M No change
ABNB Airbnb Inc. Class A 0.13% 115,310 $15.2M Add +502.1%
LAMR Lamar Advertising Co. Class A 0.13% 124,000 $15.1M Add +11.7%
PEP Pepsico Inc. 0.13% 96,210 $14.6M No change
WFC Wells Fargo & Co. 0.13% 204,450 $14.4M No change
SEIC Sei Investments Company 0.13% 173,200 $14.3M No change
PM Philip Morris International 0.12% 114,500 $13.8M No change
UNH Unitedhealth Group Inc. 0.12% 26,714 $13.5M Add +11.0%
MAR Marriott International Class A 0.12% 47,000 $13.1M Add +30.6%
HXL Hexcel Corp. 0.10% 189,000 $11.9M No change
GPK Graphic Packaging Holding Co. 0.10% 427,225 $11.6M Add +8.2%

Show all 132 holdings

Portfolio Sells Q3 2024 → Q4 2024
RTX CORPORATION Sold out 0.00% −0.24
WHR Whirlpool Corp. Sold out 0.00% −0.15
AMT American Tower Corp. Sold out 0.00% −0.11
CMCSA Comcast Corp. Class A Reduce -11.0% 0.32% −0.09
CABO Cable One Inc. Reduce -15.2% 0.16% −0.03
DNB Dun & Bradstreet Holdings Inc. Sold out 0.00% −0.01
SOLV Solventum Corp. Sold out 0.00% −0.00

Portfolio Buys Q3 2024 → Q4 2024
LPLA LPL Financial Holdings Inc. Add +2.3% 1.53% +0.44
RTX RTX Corp. New 0.23% +0.23
FNV Franco-Nevada Corp. Add +39.9% 0.50% +0.11
ABNB Airbnb Inc. Class A Add +502.1% 0.13% +0.11
SCHW Schwab (charles) Corp. Add +1.0% 0.89% +0.10
YUM Yum! Brands Inc. Add +31.3% 0.24% +0.05
MAR Marriott International Class A Add +30.6% 0.12% +0.04
NSP Insperity Inc. Add +87.8% 0.09% +0.03
FDX FedEx Corp. Add +5.9% 0.51% +0.03
VRSK Verisk Analytics Inc. Add +7.6% 0.38% +0.03
APD Air Products & Chemicals Inc. Add +24.0% 0.16% +0.03
THG Hanover Insurance Group Inc./ Add +5.1% 0.36% +0.03
AON Aon PLC Class A Add +5.0% 0.40% +0.03
META Meta Platforms Inc. Class A Add +1.1% 1.44% +0.02
MGM MGM Resorts International New 0.01% +0.01
FERG Ferguson Enterprises Inc. Add +25.4% 0.16% +0.01
AYI Acuity Inc. New 0.01% +0.01
HII Huntington Ingalls Industrie New 0.01% +0.01
CME Cme Group Inc. New 0.01% +0.01
HSY The Hershey Co. Add +25.0% 0.07% +0.01
DE Deere & Co. Add +0.7% 3.27% +0.00
DPZ Domino's Pizza Inc. Add +22.2% 0.02% +0.00
LAMR Lamar Advertising Co. Class A Add +11.7% 0.13% −0.00
UBER Uber Technologies Inc. Add +23.9% 0.06% −0.00
BC Brunswick Corp. Add +7.1% 0.01% −0.00
EL Estee Lauder Companies Class A Add +7.1% 0.01% −0.00
GPK Graphic Packaging Holding Co. Add +8.2% 0.10% −0.00
URI United Rentals Inc. Add +14.3% 0.18% −0.01
DG Dollar General Corp. Add +12.6% 0.56% −0.01
UNH Unitedhealth Group Inc. Add +11.0% 0.12% −0.01
TMO Thermo Fisher Scientific Inc. Add +16.1% 0.19% −0.01
HGTY Hagerty Inc. Class A Add +3.6% 0.26% −0.01
OI O-I Glass Inc. Add +1.2% 0.08% −0.02
TSN Tyson Foods Inc. Class A Add +1.1% 0.40% −0.02
SBUX Starbucks Corp. Add +2.8% 0.50% −0.03
HCA HCA Healthcare Inc. Add +11.1% 0.15% −0.04
LIN Linde PLC Add +8.4% 0.62% −0.05
CE Celanese Corp. Add +4.5% 0.05% −0.05
NKE Nike Inc. Class B Add +0.8% 0.29% −0.05
ODFL Old Dominion Freight Line Add +1.9% 0.47% −0.06
ROL Rollins Inc. Add +0.6% 0.60% −0.06
MSFT Microsoft Corp. Add +0.9% 1.93% −0.06
MRSH Marsh & McLennan Cos Add +1.8% 1.38% −0.07
CAT Caterpillar Inc. Add +1.9% 1.04% −0.08
WSO Watsco Inc. Add +1.4% 2.47% −0.11
ADM Archer-Daniels-Midland Co. Add +0.8% 0.66% −0.13
LOW Lowe's Cos Inc. Add +1.6% 1.53% −0.16
NVR NVR Inc. Add +0.9% 0.85% −0.18

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