Markel Group 13F, Q2 2025
Thomas Gayner · quarter ending 30 June 2025 · filed 1 August 2025 · SEC CIK 1096343
Common stock only: shares the fund reported owning at the quarter end, valued as filed.
Largest positions, Q2 2025
The 25 largest of 137 positions. Weights are against the whole filed book. Changes are in shares held, against the Q1 2025 filing.
| Company | Ticker | Value | % of book | vs Q1 2025 |
|---|---|---|---|---|
| BERKSHIRE HATHAWAY INC DEL | BRK/A | $811.88M | 6.9% | unchanged |
| BERKSHIRE HATHAWAY INC DEL | BRK/B | $744.19M | 6.3% | unchanged |
| BROOKFIELD CORP | BN | $539.07M | 4.6% | unchanged |
| ALPHABET INC | GOOG | $487.80M | 4.1% | unchanged |
| DEERE & CO | DE | $446.40M | 3.8% | unchanged |
| AMAZON COM INC | AMZN | $445.53M | 3.8% | unchanged |
| VISA INC | V | $354.80M | 3.0% | unchanged |
| HOME DEPOT INC | HD | $337.31M | 2.9% | unchanged |
| ANALOG DEVICES INC | ADI | $277.93M | 2.4% | unchanged |
| MICROSOFT CORP | MSFT | $262.37M | 2.2% | unchanged |
| GOLDMAN SACHS GROUP INC | GS | $254.34M | 2.1% | unchanged |
| DISNEY WALT CO | DIS | $251.95M | 2.1% | unchanged |
| APPLE INC | AAPL | $251.80M | 2.1% | unchanged |
| WATSCO INC | WSO | $249.59M | 2.1% | -4% shares |
| BLACKROCK INC | BLK | $231.04M | 1.9% | unchanged |
| META PLATFORMS INC | META | $206.87M | 1.8% | unchanged |
| LPL FINL HLDGS INC | LPLA | $204.21M | 1.7% | unchanged |
| PROGRESSIVE CORP | PGR | $201.15M | 1.7% | unchanged |
| KKR & CO INC | KKR | $193.13M | 1.6% | unchanged |
| BLACKSTONE INC | BX | $183.83M | 1.6% | unchanged |
| RLI CORP | RLI | $172.93M | 1.5% | unchanged |
| MARSH & MCLENNAN COS INC | MRSH | $163.71M | 1.4% | unchanged |
| LOWES COS INC | LOW | $159.13M | 1.4% | unchanged |
| NOVO-NORDISK A S | NVO | $155.89M | 1.3% | +5% shares |
| AMERICAN EXPRESS CO | AXP | $154.47M | 1.3% | unchanged |
What changed since Q1 2025
Against the Q1 2025 filing, Markel Group opened 3 new positions, added to 21, trimmed 6, left 107 unchanged and exited 1. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.
Other quarters
Source: SEC Form 13F-HR, accession 0001096343-25-000124, filed by MARKEL GROUP INC.. Values are as filed and cover US-listed positions only; a 13F does not show short positions or holdings outside the US. A 13F may be filed up to 45 days after the quarter ends, so the fund may have traded since. Educational information, not financial advice.