Markel Group (Tom Gayner)

CIK: 0001096343 · Filing period: 2026-03-31

Steady Compounders

Tom Gayner invests an insurance company's money the Buffett way: steadily buying durable, profitable businesses and almost never selling.

1.4×

Trust Weight

129

Positions

In our model

New

Increasing

Decreasing

Unchanged

In Our Model Portfolio

These holdings also appear in the Bogen Capital model

AMZN 3.5% MSFT 1.7% GOOGL 1.4% AXP 1.2% SPOT 0.1% UBER 0.1% UNH 0.0%

Recent Moves

What Markel Group opened, added to, or trimmed in their latest 13F — 23 position changes

— ANALOG DEVICES INC ▼ Trimmed -2% 3.0% of port. — WATSCO INC ▲ Added +3% 1.9% of port. — FRANCO NEV CORP ▲ Added +9% 1.2% of port. META META PLATFORMS INC ▼ Trimmed -6% 1.0% of port. — LINDE PLC ▲ Added +5% 0.8% of port. — TYSON FOODS INC ▲ Added +3% 0.4% of port. — FERGUSON ENTERPRISES INC ▲ Added +6% 0.3% of port. UNP UNION PAC CORP ▲ Added +7% 0.3% of port. MELI MERCADOLIBRE INC ▲ Added +340% 0.3% of port. — MARRIOTT INTL INC NEW ▲ Added +6% 0.3% of port.

Top 10 positions (% of portfolio)

Sector breakdown

All Holdings

129 positions, sorted by portfolio weight

← swipe to see all columns

#	Company	Ticker	Sector	% of Portfolio	Activity	Change
1	BERKSHIRE HATHAWAY INC DEL	BRK.B	Other	6.7%	— Unchanged	—
2	ALPHABET INC	GOOG	Technology	6.6%	— Unchanged	—
3	BERKSHIRE HATHAWAY INC DEL	BRK-B	Other	6.2%	— Unchanged	—
4	BROOKFIELD CORP	BN	Financials	4.4%	— Unchanged	—
5	DEERE & CO	DE	Other	4.1%	— Unchanged	—
6	AMAZON COM INC	AMZN	Technology	3.5%	— Unchanged	—
7	ANALOG DEVICES INC	—	Other	2.7%	— Unchanged	—
8	APPLE INC	AAPL	Technology	2.6%	— Unchanged	—
9	GOLDMAN SACHS GROUP INC	GS	Other	2.5%	— Unchanged	—
10	VISA INC	V	Technology	2.5%	— Unchanged	+0%
11	HOME DEPOT INC	HD	Other	2.5%	— Unchanged	—
12	CATERPILLAR INC	CAT	Other	1.9%	— Unchanged	—
13	BLACKROCK INC	—	Other	1.8%	— Unchanged	—
14	WATSCO INC	—	Other	1.8%	— Unchanged	+1%
15	MICROSOFT CORP	MSFT	Technology	1.7%	— Unchanged	+0%
16	DISNEY WALT CO	DIS	Other	1.6%	— Unchanged	—
17	FRANCO NEV CORP	—	Other	1.5%	▲ Increasing	+4%
18	LOWES COS INC	LOW	Other	1.5%	— Unchanged	+0%
19	LPL FINL HLDGS INC	—	Other	1.4%	— Unchanged	—
20	ALPHABET INC	GOOGL	Technology	1.4%	— Unchanged	—
21	JOHNSON & JOHNSON	JNJ	Other	1.2%	— Unchanged	—
22	PROGRESSIVE CORP	PGR	Other	1.2%	— Unchanged	—
23	AMERICAN EXPRESS CO	AXP	Financials	1.2%	— Unchanged	+0%
24	META PLATFORMS INC	META	Technology	1.2%	— Unchanged	—
25	BLACKSTONE INC	—	Other	1.2%	— Unchanged	—
26	TEXAS INSTRS INC	TXN	Other	1.2%	— Unchanged	—
27	RLI CORP	—	Other	1.1%	— Unchanged	—
28	GENERAL DYNAMICS CORP	—	Other	1.1%	— Unchanged	—
29	KKR & CO INC	KKR	Other	1.1%	— Unchanged	—
30	MARSH & MCLENNAN COS INC	—	Other	1.1%	— Unchanged	+0%
31	SCHWAB CHARLES CORP	SCHW	Financials	1.1%	— Unchanged	+1%
32	APOLLO GLOBAL MGMT INC	—	Other	0.9%	— Unchanged	—
33	ARCHER DANIELS MIDLAND CO	—	Other	0.9%	— Unchanged	—
34	NOVO-NORDISK A S	—	Other	0.9%	— Unchanged	—
35	MASTERCARD INCORPORATED	MA	Technology	0.9%	— Unchanged	—
36	DIAGEO PLC	DEO	Other	0.9%	— Unchanged	—
37	DOLLAR GEN CORP NEW	DG	Other	0.9%	— Unchanged	—
38	LINDE PLC	—	Other	0.8%	▲ Increasing	+2%
39	BROOKFIELD ASSET MANAGMT LTD	—	Other	0.8%	— Unchanged	—
40	MOODYS CORP	MCO	Financials	0.8%	— Unchanged	—
41	ILLINOIS TOOL WKS INC	ITW	Other	0.7%	— Unchanged	—
42	OLD DOMINION FREIGHT LINE IN	—	Other	0.7%	— Unchanged	+2%
43	NORFOLK SOUTHN CORP	SO	Other	0.7%	▲ Increasing	+3%
44	HEICO CORP NEW	HEI	Other	0.7%	— Unchanged	—
45	NVR INC	NVR	Other	0.7%	— Unchanged	+1%
46	ROLLINS INC	—	Other	0.7%	— Unchanged	+1%
47	MSCI INC	—	Other	0.6%	— Unchanged	—
48	JPMORGAN CHASE & CO.	JPM	Financials	0.6%	— Unchanged	—
49	ECOLAB INC	—	Other	0.6%	— Unchanged	—
50	CARLYLE GROUP INC	—	Other	0.5%	— Unchanged	—
… and 79 more positions

#1 BERKSHIRE HATHAWAY INC DEL 6.7%

BRK.B · Other — Unchanged

#2 ALPHABET INC 6.6%

GOOG · Technology — Unchanged

#3 BERKSHIRE HATHAWAY INC DEL 6.2%

BRK-B · Other — Unchanged

#4 BROOKFIELD CORP 4.4%

BN · Financials — Unchanged

#5 DEERE & CO 4.1%

DE · Other — Unchanged

#6 AMAZON COM INC 3.5%

AMZN · Technology — Unchanged

#7 ANALOG DEVICES INC 2.7%

Other — Unchanged

#8 APPLE INC 2.6%

AAPL · Technology — Unchanged

#9 GOLDMAN SACHS GROUP INC 2.5%

GS · Other — Unchanged

#10 VISA INC 2.5%

V · Technology — Unchanged

#11 HOME DEPOT INC 2.5%

HD · Other — Unchanged

#12 CATERPILLAR INC 1.9%

CAT · Other — Unchanged

#13 BLACKROCK INC 1.8%

Other — Unchanged

#14 WATSCO INC 1.8%

Other — Unchanged

#15 MICROSOFT CORP 1.7%

MSFT · Technology — Unchanged

#16 DISNEY WALT CO 1.6%

DIS · Other — Unchanged

#17 FRANCO NEV CORP 1.5%

Other ▲ Increasing +4%

#18 LOWES COS INC 1.5%

LOW · Other — Unchanged

#19 LPL FINL HLDGS INC 1.4%

Other — Unchanged

#20 ALPHABET INC 1.4%

GOOGL · Technology — Unchanged

#21 JOHNSON & JOHNSON 1.2%

JNJ · Other — Unchanged

#22 PROGRESSIVE CORP 1.2%

PGR · Other — Unchanged

#23 AMERICAN EXPRESS CO 1.2%

AXP · Financials — Unchanged

#24 META PLATFORMS INC 1.2%

META · Technology — Unchanged

#25 BLACKSTONE INC 1.2%

Other — Unchanged

#26 TEXAS INSTRS INC 1.2%

TXN · Other — Unchanged

#27 RLI CORP 1.1%

Other — Unchanged

#28 GENERAL DYNAMICS CORP 1.1%

Other — Unchanged

#29 KKR & CO INC 1.1%

KKR · Other — Unchanged

#30 MARSH & MCLENNAN COS INC 1.1%

Other — Unchanged

#31 SCHWAB CHARLES CORP 1.1%

SCHW · Financials — Unchanged

#32 APOLLO GLOBAL MGMT INC 0.9%

Other — Unchanged

#33 ARCHER DANIELS MIDLAND CO 0.9%

Other — Unchanged

#34 NOVO-NORDISK A S 0.9%

Other — Unchanged

#35 MASTERCARD INCORPORATED 0.9%

MA · Technology — Unchanged

#36 DIAGEO PLC 0.9%

DEO · Other — Unchanged

#37 DOLLAR GEN CORP NEW 0.9%

DG · Other — Unchanged

#38 LINDE PLC 0.8%

Other ▲ Increasing +2%

#39 BROOKFIELD ASSET MANAGMT LTD 0.8%

Other — Unchanged

#40 MOODYS CORP 0.8%

MCO · Financials — Unchanged

#41 ILLINOIS TOOL WKS INC 0.7%

ITW · Other — Unchanged

#42 OLD DOMINION FREIGHT LINE IN 0.7%

Other — Unchanged

#43 NORFOLK SOUTHN CORP 0.7%

SO · Other ▲ Increasing +3%

#44 HEICO CORP NEW 0.7%

HEI · Other — Unchanged

#45 NVR INC 0.7%

NVR · Other — Unchanged

#46 ROLLINS INC 0.7%

Other — Unchanged

#47 MSCI INC 0.6%

Other — Unchanged

#48 JPMORGAN CHASE & CO. 0.6%

JPM · Financials — Unchanged

#49 ECOLAB INC 0.6%

Other — Unchanged

#50 CARLYLE GROUP INC 0.5%

Other — Unchanged

… and 79 more positions

⚠ Disclaimer: Holdings data from SEC EDGAR 13F filings for Markel Group (Tom Gayner), delayed up to 135 days after quarter-end. This is not investment advice. The investor may have already changed these positions.

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