Markel Group 13F, Q4 2025
Thomas Gayner · quarter ending 31 December 2025 · filed 6 February 2026 · SEC CIK 1096343
Common stock only: shares the fund reported owning at the quarter end, valued as filed.
Largest positions, Q4 2025
The 25 largest of 128 positions. Weights are against the whole filed book. Changes are in shares held, against the Q3 2025 filing.
| Company | Ticker | Value | % of book | vs Q3 2025 |
|---|---|---|---|---|
| ALPHABET INC | GOOG | $862.91M | 6.9% | unchanged |
| BERKSHIRE HATHAWAY INC DEL | BRK/A | $840.85M | 6.7% | unchanged |
| BERKSHIRE HATHAWAY INC DEL | BRK/B | $770.05M | 6.1% | unchanged |
| BROOKFIELD CORP | BN | $599.95M | 4.8% | +50% shares |
| AMAZON COM INC | AMZN | $468.74M | 3.7% | unchanged |
| DEERE & CO | DE | $408.72M | 3.3% | unchanged |
| VISA INC | V | $350.46M | 2.8% | unchanged |
| APPLE INC | AAPL | $333.65M | 2.7% | unchanged |
| HOME DEPOT INC | HD | $316.57M | 2.5% | unchanged |
| GOLDMAN SACHS GROUP INC | GS | $315.88M | 2.5% | unchanged |
| ANALOG DEVICES INC | ADI | $277.50M | 2.2% | -12% shares |
| MICROSOFT CORP | MSFT | $259.07M | 2.1% | unchanged |
| BLACKROCK INC | BLK | $235.69M | 1.9% | unchanged |
| DISNEY WALT CO | DIS | $231.14M | 1.8% | unchanged |
| LPL FINL HLDGS INC | LPLA | $200.00M | 1.6% | unchanged |
| WATSCO INC | WSO | $194.65M | 1.6% | +2% shares |
| BLACKSTONE INC | BX | $189.44M | 1.5% | unchanged |
| CATERPILLAR INC | CAT | $188.27M | 1.5% | unchanged |
| KKR & CO INC | KKR | $185.08M | 1.5% | unchanged |
| AMERICAN EXPRESS CO | AXP | $180.72M | 1.4% | unchanged |
| ALPHABET INC | GOOGL | $179.04M | 1.4% | unchanged |
| LOWES COS INC | LOW | $177.13M | 1.4% | unchanged |
| PROGRESSIVE CORP | PGR | $171.64M | 1.4% | unchanged |
| META PLATFORMS INC | META | $163.90M | 1.3% | -11% shares |
| RLI CORP | RLI | $153.20M | 1.2% | unchanged |
What changed since Q3 2025
Against the Q3 2025 filing, Markel Group opened 1 new position, added to 33, trimmed 3, left 91 unchanged and exited 2. 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 0001096343-26-000011, 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.