Great investors · Tom Gayner · Q1 2026
What Tom Gayner bought and sold in Q1 2026
Markel Group 13F portfolio as of Mar 31, 2026: 129 positions worth $11.9 bn. Largest: BRK/A, GOOG, BN, DE. Filed with the SEC on May 1, 2026.
The 13F is filed by Markel Group, not by Tom Gayner personally: these are the whole firm's positions. A “position” is a distinct security in the filing (by CUSIP); share classes of the same company are shown added together.
Buys in Q1 2026
No purchase of 0.5 points of the portfolio or more this quarter.
Sells in Q1 2026
No sale of 0.5 points of the portfolio or more this quarter.
Only moves of 0.5 points of the portfolio or more are listed, measured as “traded weight” (what was bought or sold, excluding price effects). Smaller changes exist and are not listed: a position may have gone up or down without appearing above.
The full 13F, line by line
Markel Group's Q1 2026 13F lists 129 lines of US-listed securities worth $11.9 bn; the largest is BRK/A at 6.70% of the portfolio. It was accepted by the SEC on May 1, 2026 at 5:21 PM ET.
Against the previous quarter, it opened 4 positions (SUNB, MELI, EPD and WY), closed 3 (TGT, CHH and TRU), added to 31 (FNV, CSX, FDS and YUM and 27 more) and trimmed 2 (SPGI and UNH). 92 lines show the same number of shares.
| # | Company | Shares | Value | Weight | Change in shares |
|---|---|---|---|---|---|
| 1 | Berkshire Hathaway BRK/A | 1,114 | $800M | 6.70% | no change |
| 2 | Alphabet GOOG | 2.7 M | $789M | 6.61% | no change |
| 3 | Berkshire Hathaway BRK/B | 1.5 M | $734M | 6.15% | no change |
| 4 | Brookfield BN | 13.1 M | $529M | 4.43% | no change |
| 5 | Deere DE | 877,900 | $495M | 4.14% | no change |
| 6 | Amazon.com AMZN | 2.0 M | $423M | 3.54% | no change |
| 7 | Analog Devices ADI | 1.0 M | $326M | 2.73% | no change |
| 8 | Apple AAPL | 1.2 M | $311M | 2.61% | no change |
| 9 | Goldman Sachs Group GS | 359,360 | $304M | 2.55% | no change |
| 10 | Visa V | 1.0 M | $304M | 2.54% | no change |
| 11 | Home Depot HD | 920,000 | $303M | 2.53% | no change |
| 12 | Caterpillar CAT | 328,650 | $233M | 1.95% | no change |
| 13 | Watsco WSO | 582,169 | $212M | 1.77% | no change |
| 14 | BlackRock BLK | 220,200 | $212M | 1.77% | no change |
| 15 | Microsoft MSFT | 537,630 | $199M | 1.67% | no change |
| 16 | Walt Disney DIS | 2.0 M | $196M | 1.64% | no change |
| 17 | Franco Nevada FNV | 708,500 | $175M | 1.47% | +3.7% |
| 18 | Lowe's LOW | 738,480 | $174M | 1.46% | no change |
| 19 | LPL Financial Holdings LPLA | 559,951 | $168M | 1.41% | no change |
| 20 | Alphabet GOOGL | 572,000 | $164M | 1.38% | no change |
| 21 | Progressive PGR | 753,750 | $149M | 1.25% | no change |
| 22 | Johnson & Johnson JNJ | 610,800 | $149M | 1.25% | no change |
| 23 | American Express AXP | 490,450 | $148M | 1.24% | no change |
| 24 | Meta Platforms META | 248,303 | $142M | 1.19% | no change |
| 25 | Blackstone BX | 1.2 M | $141M | 1.18% | no change |
| 26 | Texas Instruments TXN | 724,000 | $141M | 1.18% | no change |
| 27 | RLI RLI | 2.4 M | $137M | 1.14% | no change |
| 28 | KKR KKR | 1.5 M | $134M | 1.12% | no change |
| 29 | General Dynamics GD | 391,000 | $134M | 1.12% | no change |
| 30 | Marsh & Mclennan Companies MRSH | 763,500 | $132M | 1.11% | no change |
| 31 | Charles Schwab SCHW | 1.4 M | $130M | 1.09% | no change |
| 32 | Apollo Global Management APO | 1.0 M | $113M | 0.94% | no change |
| 33 | Archer-Daniels-Midland ADM | 1.5 M | $109M | 0.92% | no change |
| 34 | Novo Nordisk A/s NVO | 2.9 M | $105M | 0.88% | no change |
| 35 | Mastercard MA | 207,540 | $104M | 0.87% | no change |
| 36 | Dollar General DG | 869,250 | $103M | 0.86% | no change |
| 37 | Diageo DEO | 1.4 M | $102M | 0.86% | no change |
| 38 | Linde LIN | 204,600 | $101M | 0.85% | +2.2% |
| 39 | Brookfield Asset Management BAM | 2.2 M | $97.5M | 0.82% | no change |
| 40 | Moody's MCO | 213,890 | $93.3M | 0.78% | no change |
| 41 | Illinois Tool Works ITW | 327,500 | $85.2M | 0.71% | no change |
| 42 | Old Dominion Freight Line ODFL | 429,150 | $83.9M | 0.70% | +1.8% |
| 43 | Norfolk Southern NSC | 282,500 | $81.1M | 0.68% | +3.3% |
| 44 | Heico HEI/A | 379,644 | $80.1M | 0.67% | no change |
| 45 | Rollins ROL | 1.5 M | $80.0M | 0.67% | no change |
| 46 | NVR NVR | 12,087 | $79.7M | 0.67% | no change |
| 47 | MSCI MSCI | 142,850 | $77.0M | 0.64% | no change |
| 48 | JPMorgan Chase JPM | 252,550 | $74.3M | 0.62% | no change |
| 49 | Ecolab ECL | 274,300 | $73.0M | 0.61% | no change |
| 50 | Carlyle Group CG | 1.3 M | $64.2M | 0.54% | no change |
| 51 | Sunbelt Rentals Holdings SUNB | 963,361 | $62.7M | 0.53% | new |
| 52 | Tyson Foods TSN | 889,500 | $57.0M | 0.48% | no change |
| 53 | Starbucks SBUX | 623,818 | $55.9M | 0.47% | no change |
| 54 | Rockwell Automation ROK | 154,900 | $55.6M | 0.47% | no change |
| 55 | S&P Global SPGI | 117,690 | $50.1M | 0.42% | −22% |
| 56 | Hanover Insurance Group THG | 281,000 | $48.7M | 0.41% | no change |
| 57 | Investors Title ITIC | 213,300 | $46.4M | 0.39% | no change |
| 58 | Aon AON | 135,800 | $43.8M | 0.37% | +1.3% |
| 59 | RTX RTX | 224,000 | $43.2M | 0.36% | no change |
| 60 | Ferguson Enterprises FERG | 170,700 | $39.8M | 0.33% | +4.4% |
| 61 | Lockheed Martin LMT | 65,213 | $39.4M | 0.33% | +1.1% |
| 62 | Costco Wholesale COST | 39,150 | $39.0M | 0.33% | no change |
| 63 | HCA Healthcare HCA | 82,430 | $39.0M | 0.33% | +2.2% |
| 64 | Yum! Brands YUM | 245,213 | $38.1M | 0.32% | +8.3% |
| 65 | Union Pacific UNP | 150,278 | $36.5M | 0.31% | +6.4% |
| 66 | Thermo Fisher Scientific TMO | 67,100 | $33.0M | 0.28% | +6.8% |
| 67 | Hagerty HGTY | 3.1 M | $32.7M | 0.27% | no change |
| 68 | Allstate ALL | 154,550 | $32.0M | 0.27% | no change |
| 69 | Accenture ACN | 159,400 | $31.6M | 0.26% | no change |
| 70 | Marriott International MAR | 93,750 | $30.7M | 0.26% | +4.5% |
| 71 | Airbnb ABNB | 242,389 | $30.6M | 0.26% | no change |
| 72 | Sherwin-williams SHW | 94,172 | $30.2M | 0.25% | no change |
| 73 | Verisk Analytics VRSK | 155,950 | $29.6M | 0.25% | no change |
| 74 | Factset Research Systems FDS | 135,376 | $29.4M | 0.25% | +11% |
| 75 | T. Rowe Price TROW | 314,000 | $28.3M | 0.24% | no change |
| 76 | Comcast CMCSA | 961,880 | $27.6M | 0.23% | no change |
| 77 | Cisco Systems CSCO | 355,500 | $27.6M | 0.23% | no change |
| 78 | Lamar Advertising LAMR | 193,000 | $24.4M | 0.20% | +4.3% |
| 79 | Nike NKE | 447,400 | $23.6M | 0.20% | no change |
| 80 | United Rentals URI | 31,150 | $22.7M | 0.19% | no change |
| 81 | Brown Forman BF/A | 843,000 | $22.6M | 0.19% | no change |
| 82 | Crown Holdings CCK | 220,000 | $22.1M | 0.18% | +3.8% |
| 83 | Air Products and Chemicals APD | 75,500 | $21.9M | 0.18% | +5.6% |
| 84 | CSX CSX | 530,000 | $21.8M | 0.18% | +20% |
| 85 | Renaissancere Holdings RNR | 70,000 | $20.8M | 0.17% | no change |
| 86 | Philip Morris International PM | 114,500 | $18.9M | 0.16% | no change |
| 87 | Comfort Systems USA FIX | 13,000 | $17.9M | 0.15% | no change |
| 88 | Capital One Financial COF | 91,000 | $16.6M | 0.14% | no change |
| 89 | Wells Fargo WFC | 204,450 | $16.3M | 0.14% | no change |
| 90 | Hershey HSY | 75,000 | $15.6M | 0.13% | +11% |
| 91 | Hexcel HXL | 189,000 | $15.3M | 0.13% | no change |
| 92 | Pepsico PEP | 96,210 | $14.9M | 0.13% | no change |
| 93 | Bank of New York Mellon BNY | 124,500 | $14.8M | 0.12% | +2.5% |
| 94 | CME Group CME | 49,750 | $14.7M | 0.12% | +8.7% |
| 95 | Paychex PAYX | 150,000 | $13.8M | 0.12% | no change |
| 96 | SEI Investments SEIC | 173,200 | $13.6M | 0.11% | no change |
| 97 | Carrier Global CARR | 235,000 | $13.2M | 0.11% | no change |
| 98 | Equifax EFX | 72,850 | $13.1M | 0.11% | no change |
| 99 | Spotify Technology SPOT | 25,900 | $12.6M | 0.11% | no change |
| 100 | Brown Forman BF/B | 474,187 | $12.5M | 0.11% | no change |
The 100 largest lines are shown. The other 29 add up to 1.51% of the portfolio; full 13F of Markel Group →
Positions it closed (3)
- Target TGTwas 0.10% · 133,000 shares
- Choice Hotels International CHHwas 0.09% · 115,500 shares
- TransUnion TRUwas 0.00% · 2,000 shares
One row per line of the filing (by CUSIP): share classes of the same company are listed separately here. “Change in shares” compares the count with the previous quarter, split-adjusted; the value is the one reported in the 13F at quarter end, not today's price.
Original documents: Markel Group's 13F filings on EDGAR (SEC) ↗
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Source: 13F filings with the SEC. A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions. Not investment advice.