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 |
SUNB
Sunbelt Rentals Holdings
SUNB
|
+$67.6M |
| 2 |
Mercado Libre
MELI
|
+$10.5M |
| 3 |
Enterprise Products Partners
EPD
|
+$7.15M |
| 4 |
Franco-Nevada
FNV
|
+$6.18M |
| 5 |
CSX Corp
CSX
|
+$3.53M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
S&P Global
SPGI
|
+$15.3M |
| 2 |
Target
TGT
|
+$13M |
| 3 |
Choice Hotels
CHH
|
+$11M |
| 4 |
UnitedHealth
UNH
|
+$2.32M |
| 5 |
TransUnion
TRU
|
+$172K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 42.52% |
| 2 | Industrials | 15.55% |
| 3 | Communication Services | 11.15% |
| 4 | Consumer Discretionary | 10.76% |
| 5 | Technology | 9.14% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Berkshire Hathaway Class A
BRK.A
$1.06T
| $800M | 6.7% |
1,114
| – | – |
|
2
Alphabet (Google) Class C
GOOG
$4.18T
| $789M | 6.61% |
2,749,860
| – | – |
|
|
3
Berkshire Hathaway Class B
BRK.B
$1.06T
| $734M | 6.15% |
1,531,971
| – | – |
|
4
Brookfield
BN
$93.1B
| $529M | 4.43% |
13,073,609
| – | – |
|
5
Deere & Co
DE
$175B
| $495M | 4.14% |
877,900
| – | – |
|
6
Amazon
AMZN
$2.79T
| $423M | 3.54% |
2,030,760
| – | – |
|
7
Analog Devices
ADI
$182B
| $326M | 2.73% |
1,023,245
| – | – |
|
8
Apple
AAPL
$4.51T
| $311M | 2.61% |
1,227,290
| – | – |
|
9
Goldman Sachs
GS
$303B
| $304M | 2.55% |
359,360
| – | – |
|
10
Visa
V
$693B
| $304M | 2.54% |
1,004,331
+5,046
| +0.5% | +$1.62M |
|
11
Home Depot
HD
$335B
| $303M | 2.53% |
920,000
| – | – |
|
12
Caterpillar
CAT
$381B
| $233M | 1.95% |
328,650
| – | – |
|
13
Watsco Inc
WSO
$12.9B
| $212M | 1.77% |
582,169
+4,500
| +0.8% | +$1.74M |
|
14
Blackrock
BLK
$179B
| $212M | 1.77% |
220,200
| – | – |
|
15
Microsoft
MSFT
$3.59T
| $199M | 1.67% |
537,630
+1,950
| +0.4% | +$816K |
|
16
Walt Disney
DIS
$186B
| $196M | 1.64% |
2,031,665
| – | – |
|
|
17
Franco-Nevada
FNV
$51.3B
| $175M | 1.47% |
708,500
+25,000
| +4% | +$6.18M |
|
18
Lowe's Companies
LOW
$121B
| $174M | 1.46% |
738,480
+4,000
| +0.5% | +$1.04M |
|
19
LPL Financial
LPLA
$28.5B
| $168M | 1.41% |
559,951
| – | – |
|
|
20
Alphabet (Google) Class A
GOOGL
$4.22T
| $164M | 1.38% |
572,000
| – | – |
|
21
Progressive
PGR
$127B
| $149M | 1.25% |
753,750
| – | – |
|
22
Johnson & Johnson
JNJ
$651B
| $149M | 1.25% |
610,800
| – | – |
|
23
American Express
AXP
$227B
| $148M | 1.24% |
490,450
+1,950
| +0.4% | +$654K |
|
24
Meta Platforms (Facebook)
META
$1.4T
| $142M | 1.19% |
248,303
| – | – |
|
25
Blackstone
BX
$108B
| $141M | 1.18% |
1,229,000
| – | – |
|
Similar funds
Tom Gayner's Q1 2026 Portfolio in Review
As of Q1 2026, Tom Gayner held 132 positions worth $11.9B, down 4.8% from $12.5B the previous quarter. Its ten largest holdings account for 42% of the portfolio.
Tom Gayner's Q1 2026 filing shows 4 new, 43 increased, 2 reduced and 3 closed positions. Its largest new stake was Sunbelt Rentals Holdings: 963,361 shares worth $62.7M. The largest sale was S&P Global, an estimated $15.3M.
By sector, the portfolio is most concentrated in Financials at 43% of assets, down from 45% a quarter earlier, followed by Industrials and Communication Services.
- Tom Gayner's largest Q1 2026 buy was Sunbelt Rentals Holdings: 963,361 shares worth $62.7M.
- Tom Gayner added most to Franco-Nevada in Q1 2026, an estimated $6.18M increase.
- Tom Gayner's biggest Q1 2026 reduction was S&P Global, cutting an estimated $15.3M.
- Tom Gayner fully exited Target in Q1 2026, selling an estimated $13M.
- Tom Gayner's ten largest holdings make up 42% of its $11.9B portfolio in Q1 2026.
- Tom Gayner opened 4 new positions and closed 3 in Q1 2026.
- Tom Gayner's portfolio value fell 4.8% quarter-over-quarter to $11.9B.
Based on Markel Group's 13F filing for Q1 2026, filed 1 May 2026.