Tom Gayner Markel Group
Tom Gayner is the CEO of Markel Group and long-time steward of its public equity portfolio. Often compared to a smaller-scale Berkshire-style model, Markel combines insurance operations with a carefully selected book of common stocks. Gayner is known for a patient, owner-oriented philosophy and for writing clearly about compounding, culture, and long-term business ownership.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Mercado Libre
MELI
|
+$31.7M |
| 2 |
Franco-Nevada
FNV
|
+$15.2M |
| 3 |
Enterprise Products Partners
EPD
|
+$13.8M |
| 4 |
Watsco Inc
WSO
|
+$6.26M |
| 5 |
Zoetis
ZTS
|
+$6.23M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
ScottsMiracle-Gro
SMG
|
+$10.2M |
| 2 |
Analog Devices
ADI
|
+$9.33M |
| 3 |
Meta Platforms (Facebook)
META
|
+$8.65M |
| 4 |
UnitedHealth
UNH
|
+$5.06M |
| 5 |
Comcast
CMCSA
|
+$4.12M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 40.79% |
| 2 | Industrials | 16.65% |
| 3 | Communication Services | 11.71% |
| 4 | Consumer Discretionary | 10.64% |
| 5 | Technology | 9.9% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
Starbucks
SBUX
$122B
| $63.7M | 0.49% |
623,818
| – | – |
|
52
Rollins
ROL
$17.8B
| $63.3M | 0.48% |
1,516,525
+18,500
| +1% | +$945K |
|
53
Hanover Insurance
THG
$7.77B
| $60.2M | 0.46% |
281,000
| – | – |
|
|
ITIC
54
Investors Title Co
ITIC
$546M
| $58.4M | 0.44% |
213,300
| – | – |
|
55
Carlyle Group
CG
$17.6B
| $55.9M | 0.43% |
1,327,000
| – | – |
|
56
Tyson Foods
TSN
$20.6B
| $52.3M | 0.4% |
913,500
+24,000
| +3% | +$1.5M |
|
57
S&P Global
SPGI
$127B
| $47.9M | 0.37% |
117,690
| – | – |
|
58
Aon
AON
$75.3B
| $45M | 0.34% |
135,800
| – | – |
|
59
Union Pacific
UNP
$183B
| $43.8M | 0.33% |
161,028
+10,750
| +7% | +$2.82M |
|
60
Ferguson
FERG
$46.9B
| $42.8M | 0.33% |
180,200
+9,500
| +6% | +$2.29M |
|
61
RTX Corp
RTX
$283B
| $42.5M | 0.32% |
224,000
| – | – |
|
62
Cisco
CSCO
$438B
| $41.8M | 0.32% |
355,500
| – | – |
|
|
63
Mercado Libre
MELI
$97.5B
| $40.7M | 0.31% |
24,000
+18,550
| +340% | +$31.7M |
|
64
Yum! Brands
YUM
$41.8B
| $39.2M | 0.3% |
245,213
| – | – |
|
65
Marriott International
MAR
$92.9B
| $36.9M | 0.28% |
99,500
+5,750
| +6% | +$2.12M |
|
66
Allstate
ALL
$64.2B
| $36.8M | 0.28% |
154,550
| – | – |
|
67
Thermo Fisher Scientific
TMO
$233B
| $36.6M | 0.28% |
73,100
+6,000
| +9% | +$2.88M |
|
68
Costco
COST
$420B
| $36.6M | 0.28% |
39,150
| – | – |
|
69
Hagerty
HGTY
$1.34B
| $35.9M | 0.27% |
3,108,000
| – | – |
|
70
T. Rowe Price
TROW
$23.8B
| $35.7M | 0.27% |
314,000
| – | – |
|
71
United Rentals
URI
$68.4B
| $35.3M | 0.27% |
31,150
| – | – |
|
72
Airbnb
ABNB
$110B
| $34.7M | 0.26% |
242,389
| – | – |
|
73
Lockheed Martin
LMT
$130B
| $33.2M | 0.25% |
65,213
| – | – |
|
74
HCA Healthcare
HCA
$92.9B
| $32.9M | 0.25% |
84,366
+1,936
| +2% | +$818K |
|
75
Sherwin-Williams
SHW
$84.1B
| $32.4M | 0.25% |
94,172
| – | – |
|
Similar funds
Tom Gayner's Q2 2026 Portfolio in Review
As of Q2 2026, Tom Gayner held 132 positions worth $13.1B, up 10% from $11.9B the previous quarter. Its ten largest holdings account for 43% of the portfolio.
Trading was light in Q2 2026: portfolio turnover was 3.8%. Tom Gayner opened 3 new positions and exited 2, leaving the 132-position portfolio largely intact.
By sector, the portfolio is most concentrated in Financials at 41% of assets, down from 43% a quarter earlier, followed by Industrials and Communication Services.
- Tom Gayner's largest Q2 2026 buy was Zoetis: 66,195 shares worth $4.76M.
- Tom Gayner added most to Mercado Libre in Q2 2026, an estimated $31.7M increase.
- Tom Gayner's biggest Q2 2026 reduction was Analog Devices, cutting an estimated $9.33M.
- Tom Gayner fully exited ScottsMiracle-Gro in Q2 2026, selling an estimated $10.2M.
- Tom Gayner's ten largest holdings make up 43% of its $13.1B portfolio in Q2 2026.
- Tom Gayner opened 3 new positions and closed 2 in Q2 2026.
- Tom Gayner's portfolio value rose 10% quarter-over-quarter to $13.1B.
Based on Markel Group's 13F filing for Q2 2026, filed 31 Jul 2026.