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 | |
|---|---|---|---|---|---|---|
76
Factset
FDS
$10.7B
| $31.1M | 0.24% |
135,376
| – | – |
|
77
Lamar Advertising Co
LAMR
$15.3B
| $30.1M | 0.23% |
193,000
| – | – |
|
78
Verisk Analytics
VRSK
$24.4B
| $28M | 0.21% |
155,950
| – | – |
|
79
CSX Corp
CSX
$95.6B
| $27.8M | 0.21% |
584,500
+54,500
| +10% | +$2.46M |
|
80
Applied Materials
AMAT
$391B
| $26.3M | 0.2% |
36,350
| – | – |
|
81
Air Products & Chemicals
APD
$67.9B
| $25.9M | 0.2% |
88,500
+13,000
| +17% | +$3.78M |
|
82
Comfort Systems
FIX
$58.3B
| $25.8M | 0.2% |
13,000
| – | – |
|
83
Crown Holdings
CCK
$13B
| $24.6M | 0.19% |
220,000
| – | – |
|
84
Brown-Forman Class A
BF.A
$13.3B
| $23.1M | 0.18% |
843,000
| – | – |
|
85
RenaissanceRe
RNR
$13.4B
| $22.2M | 0.17% |
70,000
| – | – |
|
|
86
Enterprise Products Partners
EPD
$82.1B
| $20.9M | 0.16% |
569,000
+367,000
| +182% | +$13.8M |
|
87
Philip Morris
PM
$293B
| $20.7M | 0.16% |
114,500
| – | – |
|
88
Accenture
ACN
$113B
| $19.8M | 0.15% |
159,400
| – | – |
|
|
89
Comcast
CMCSA
$95.3B
| $19.7M | 0.15% |
802,074
-159,806
| -17% | -$4.12M |
|
90
Hexcel
HXL
$7.1B
| $18.9M | 0.14% |
189,000
| – | – |
|
91
Nike
NKE
$60.5B
| $18.4M | 0.14% |
447,400
| – | – |
|
92
Capital One
COF
$134B
| $18.3M | 0.14% |
91,000
| – | – |
|
|
BNY
93
Bank of New York Mellon
BNY
$108B
| $18M | 0.14% |
124,500
| – | – |
|
94
Carrier Global
CARR
$49.8B
| $17.2M | 0.13% |
235,000
| – | – |
|
95
Wells Fargo
WFC
$254B
| $16.9M | 0.13% |
204,450
| – | – |
|
96
SEI Investments
SEIC
$13.1B
| $15.2M | 0.12% |
173,200
| – | – |
|
97
Paychex
PAYX
$44.3B
| $14.7M | 0.11% |
150,000
| – | – |
|
98
Hershey
HSY
$37.5B
| $13.2M | 0.1% |
75,000
| – | – |
|
99
PepsiCo
PEP
$196B
| $13M | 0.1% |
96,210
| – | – |
|
|
100
Brown-Forman Class B
BF.B
$13.1B
| $12.6M | 0.1% |
474,187
| – | – |
|
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.