Tom Gayner · Markel Group Inc.
| Period: | Q4 2025 |
| Portfolio date: | Dec 31, 2025 |
| No. of stocks: | 128 |
| Portfolio value: | $12.5B |
Viewing historical Q4 2025 data. Holdings + moves reflect that quarter — not current.← Back to latest
| Stock | % of Portfolio | Recent Activity | Shares | Reported Price * | Value | Current Price | +/- Reported Price | 52 Week Low | 52 Week High |
|---|---|---|---|---|---|---|---|---|---|
| GOOG · Alphabet Inc. | 6.88 | 2,749,860 | $313.80 | $862,906,068 | $400.71 | +27.70% | $156.16 | $402.00 | |
| BRK-A · Berkshire Hathaway Inc. Del | 6.70 | 1,114 | $754800.00 | $840,847,200 | $717387.00 | -4.96% | $685150.00 | $779853.00 | |
| BRK-B · Berkshire Hathaway Inc. Del | 6.14 | 1,531,971 | $502.65 | $770,045,226 | $475.94 | -5.31% | $455.19 | $520.30 | |
| BN · Brookfield Corp. | 4.78 | Add 50.00% | 13,073,609 | $45.89 | $599,947,917 | $47.08 | +2.59% | $37.54 | $49.57 |
| AMZN · Amazon Com Inc. | 3.74 | 2,030,760 | $230.82 | $468,740,022 | $272.68 | +18.14% | $196.00 | $278.56 | |
| DE · Deere & Co. | 3.26 | 877,900 | $465.57 | $408,723,903 | $574.84 | +23.47% | $433.00 | $674.19 | |
| V · Visa, Inc. | 2.79 | 999,285 | $350.71 | $350,459,242 | $318.79 | -9.10% | $293.89 | $375.51 | |
| AAPL · Apple Inc. | 2.66 | 1,227,290 | $271.86 | $333,651,061 | $293.26 | +7.87% | $193.46 | $294.76 | |
| HD · Home Depot Inc. | 2.52 | 920,000 | $344.10 | $316,572,001 | $317.45 | -7.74% | $310.40 | $426.75 | |
| GS · Goldman Sachs Group Inc. | 2.52 | 359,360 | $879.00 | $315,877,440 | $936.48 | +6.54% | $582.50 | $984.70 | |
| ADI · Analog Devices Inc. | 2.21 | Reduce 12.37% | 1,023,245 | $271.20 | $277,504,044 | $416.52 | +53.58% | $206.00 | $418.75 |
| MSFT · Microsoft Corp. | 2.07 | Add 0.68% | 535,680 | $483.62 | $259,065,563 | $415.06 | -14.18% | $356.28 | $555.45 |
| BLK · Blackrock Inc. | 1.88 | 220,200 | $1070.34 | $235,688,869 | $1084.83 | +1.35% | $917.39 | $1219.94 | |
| DIS · Disney Walt Co. | 1.84 | 2,031,665 | $113.77 | $231,142,527 | $108.02 | -5.05% | $92.19 | $124.69 | |
| LPLA · Lpl Finl Hldgs Inc. | 1.59 | Add 1.20% | 559,951 | $357.17 | $199,997,699 | $303.52 | -15.02% | $281.51 | $403.58 |
| WSO · Watsco Inc. | 1.55 | Add 2.21% | 577,669 | $336.95 | $194,645,571 | $420.60 | +24.83% | $323.05 | $496.25 |
| BX · Blackstone Inc. | 1.51 | 1,229,000 | $154.14 | $189,438,060 | $123.77 | -19.70% | $101.73 | $190.09 | |
| CAT · Caterpillar Inc. | 1.50 | 328,650 | $572.87 | $188,273,727 | $897.45 | +56.66% | $336.24 | $931.35 | |
| KKR · Kkr & Co. Inc. | 1.48 | 1,451,800 | $127.48 | $185,075,464 | $102.52 | -19.58% | $82.67 | $153.87 | |
| AXP · American Express Co. | 1.44 | Add 0.88% | 488,500 | $369.95 | $180,720,576 | $316.03 | -14.57% | $281.46 | $387.49 |
| GOOGL · Alphabet Inc. | 1.43 | 572,000 | $313.00 | $179,036,000 | $400.71 | +28.02% | $156.16 | $402.00 | |
| LOW · Lowes Cos Inc. | 1.41 | Add 1.07% | 734,480 | $241.16 | $177,127,198 | $229.20 | -4.96% | $210.33 | $293.06 |
| PGR · Progressive Corp. | 1.37 | 753,750 | $227.72 | $171,643,949 | $194.00 | -14.81% | $191.75 | $289.96 | |
| META · Meta Platforms, Inc. | 1.31 | Reduce 11.41% | 248,303 | $660.09 | $163,902,328 | $609.63 | -7.64% | $520.26 | $796.25 |
| RLI · Rli Corp. | 1.22 | 2,394,544 | $63.98 | $153,202,926 | $49.05 | -23.34% | $48.65 | $77.24 | |
| APO · Apollo Global Mgmt Inc. | 1.17 | 1,012,500 | $144.76 | $146,569,500 | $133.20 | -7.99% | $99.56 | $157.28 | |
| NVO · Novo-Nordisk A S | 1.16 | Add 21.16% | 2,869,774 | $50.88 | $146,014,101 | $46.07 | -9.45% | $35.12 | $81.44 |
| 351858105 · Franco Nev Corp. | 1.13 | Add 12.88% | 683,500 | $207.28 | $141,675,880 | — | — | — | — |
| MRSH · Marsh & Mclennan Cos Inc. | 1.13 | Add 0.89% | 761,750 | $185.52 | $141,319,860 | $163.25 | -12.00% | $162.50 | $235.78 |
| 808513105 · Schwab Charles Corp. | 1.10 | Add 0.81% | 1,375,800 | $99.91 | $137,456,178 | — | — | — | — |
| GD · General Dynamics Corp. | 1.05 | 391,000 | $336.66 | $131,634,060 | $346.53 | +2.93% | $267.39 | $369.70 | |
| JNJ · Johnson & Johnson | 1.01 | 610,800 | $206.95 | $126,405,060 | $221.32 | +6.94% | $146.12 | $251.71 | |
| TXN · Texas Instrs Inc. | 1.00 | 724,000 | $173.49 | $125,606,759 | $287.80 | +65.89% | $152.73 | $292.64 | |
| MA · Mastercard Inc. | 0.94 | 207,540 | $570.88 | $118,480,436 | $495.48 | -13.21% | $480.50 | $601.77 | |
| DEO · Diageo Plc | 0.94 | Add 0.37% | 1,371,708 | $86.27 | $118,337,249 | $84.30 | -2.28% | $72.45 | $116.41 |
| DG · Dollar Gen Corp. New | 0.92 | 869,250 | $132.77 | $115,410,323 | $113.29 | -14.67% | $86.25 | $158.23 | |
| BAM · Brookfield Asset Managmt Ltd. | 0.92 | 2,193,953 | $52.39 | $114,941,197 | $49.76 | -5.02% | $42.20 | $64.10 | |
| MCO · Moodys Corp. | 0.87 | 213,890 | $510.85 | $109,265,707 | $451.32 | -11.65% | $402.28 | $546.88 | |
| HEI · Heico Corp. New | 0.76 | 379,644 | $252.43 | $95,833,535 | $292.52 | +15.88% | $256.11 | $361.69 | |
| ROL · Rollins Inc. | 0.71 | Add 0.90% | 1,489,025 | $60.02 | $89,371,282 | $53.83 | -10.31% | $52.32 | $66.14 |
| NVR · Nvr Inc. | 0.70 | Add 0.92% | 12,007 | $7292.77 | $87,564,290 | $5974.07 | -18.08% | $5930.00 | $8618.28 |
| ADM · Archer Daniels Midland Co. | 0.69 | 1,505,800 | $57.49 | $86,568,442 | $77.66 | +35.08% | $46.81 | $81.75 | |
| LIN · Linde Plc | 0.68 | Add 3.76% | 200,100 | $426.39 | $85,320,641 | $493.16 | +15.66% | $387.78 | $521.28 |
| MSCI · Msci Inc. | 0.65 | 142,850 | $573.73 | $81,957,331 | $585.42 | +2.04% | $501.08 | $626.28 | |
| JPM · Jpmorgan Chase & Co. | 0.65 | 252,550 | $322.22 | $81,376,661 | $302.10 | -6.24% | $256.00 | $337.25 | |
| ITW · Illinois Tool Wks Inc. | 0.64 | 327,500 | $246.30 | $80,663,249 | $254.76 | +3.43% | $238.82 | $303.16 | |
| NSC · Norfolk Southn Corp. | 0.63 | Add 6.63% | 273,500 | $288.72 | $78,964,920 | $312.01 | +8.07% | $232.36 | $323.37 |
| SPGI · S&P Global Inc. | 0.63 | 150,690 | $522.59 | $78,749,088 | $420.12 | -19.61% | $381.61 | $579.05 | |
| CG · Carlyle Group Inc. | 0.63 | 1,327,000 | $59.11 | $78,438,970 | $50.63 | -14.35% | $43.19 | $69.85 | |
| ECL · Ecolab Inc. | 0.57 | 274,300 | $262.52 | $72,009,236 | $254.22 | -3.16% | $249.04 | $309.27 | |
| ODFL · Old Dominion Freight Line In | 0.53 | Add 17.53% | 421,650 | $156.80 | $66,114,720 | $198.33 | +26.49% | $126.01 | $233.79 |
| ROK · Rockwell Automation Inc. | 0.48 | 154,900 | $389.07 | $60,266,943 | $453.89 | +16.66% | $298.70 | $463.49 | |
| ITIC · Investors Title Co. Nc | 0.42 | 213,300 | $249.64 | $53,248,212 | $238.30 | -4.54% | $190.20 | $288.98 | |
| SBUX · Starbucks Corp. | 0.42 | 623,818 | $84.21 | $52,531,714 | $104.93 | +24.61% | $77.99 | $107.55 | |
| TSN · Tyson Foods Inc. | 0.41 | Add 4.24% | 884,500 | $58.62 | $51,849,390 | $68.38 | +16.65% | $50.56 | $69.48 |
| THG · Hanover Ins Group Inc. | 0.41 | 281,000 | $182.77 | $51,358,370 | $189.14 | +3.49% | $160.70 | $191.66 | |
| AON · Aon Plc | 0.38 | Add 3.27% | 134,050 | $352.88 | $47,303,564 | $312.79 | -11.36% | $304.59 | $381.00 |
| G1151C101 · Accenture Plc Ireland | 0.34 | 159,400 | $268.30 | $42,767,020 | — | — | — | — | |
| HGTY · Hagerty Inc. | 0.33 | 3,108,000 | $13.44 | $41,771,520 | $10.06 | -25.15% | $8.81 | $14.00 | |
| RTX · Rtx Corp. | 0.33 | 224,000 | $183.40 | $41,081,600 | $176.09 | -3.99% | $127.39 | $214.50 | |
| HCA · Hca Healthcare Inc. | 0.30 | Add 7.27% | 80,680 | $466.86 | $37,666,266 | $435.19 | -6.78% | $330.00 | $556.52 |
| FERG · Ferguson Enterprises | 0.29 | Add 11.22% | 163,500 | $222.63 | $36,400,005 | $241.34 | +8.40% | $173.53 | $271.64 |
| TMO · Thermo Fisher Scientific Inc. | 0.29 | Add 12.54% | 62,800 | $579.45 | $36,389,461 | $465.00 | -19.75% | $385.46 | $643.99 |
| FDS · Factset Resh Sys Inc. | 0.28 | Add 4.41% | 121,873 | $290.19 | $35,366,326 | $223.61 | -22.94% | $185.00 | $474.79 |
| VRSK · Verisk Analytics Inc. | 0.28 | 155,950 | $223.69 | $34,884,456 | $171.87 | -23.17% | $161.70 | $322.92 | |
| YUM · Yum Brands Inc. | 0.27 | 226,451 | $151.28 | $34,257,507 | $151.95 | +0.44% | $137.33 | $169.39 | |
| COST · Costco Wholesale Corp. | 0.27 | 39,150 | $862.34 | $33,760,611 | $1008.79 | +16.98% | $844.06 | $1067.08 | |
| 907818108 · Union Pac Corp. | 0.26 | Add 11.44% | 141,278 | $231.32 | $32,680,427 | — | — | — | — |
| ABNB · Airbnb Inc. | 0.26 | Add 5.79% | 240,289 | $135.72 | $32,612,022 | $141.49 | +4.25% | $110.81 | $147.25 |
| ALL · Allstate Corp. | 0.26 | 154,550 | $208.15 | $32,169,583 | $213.15 | +2.40% | $188.08 | $222.23 | |
| TROW · Price T Rowe Group Inc. | 0.26 | 314,000 | $102.38 | $32,147,319 | $105.33 | +2.88% | $85.22 | $118.22 | |
| LMT · Lockheed Martin Corp. | 0.25 | Add 3.61% | 64,513 | $483.67 | $31,203,003 | $506.51 | +4.72% | $410.11 | $692.00 |
| SHW · Sherwin Williams Co. | 0.24 | 94,172 | $324.03 | $30,514,552 | $316.82 | -2.23% | $301.58 | $379.65 | |
| CMCSA · Comcast Corp. Cl A | 0.23 | 961,880 | $29.89 | $28,750,593 | $25.39 | -15.04% | $24.13 | $34.36 | |
| NKE · Nike Inc. | 0.23 | 447,400 | $63.71 | $28,503,854 | $44.14 | -30.72% | $42.09 | $80.17 | |
| MAR · Marriott Intl Inc. New | 0.22 | Add 22.53% | 89,750 | $310.24 | $27,844,040 | $353.18 | +13.84% | $253.56 | $380.00 |
| CSCO · Cisco Sys Inc. | 0.22 | 355,500 | $77.03 | $27,384,165 | $96.57 | +25.37% | $60.85 | $97.02 | |
| URI · United Rentals Inc. | 0.20 | 31,150 | $809.32 | $25,210,318 | $937.00 | +15.78% | $681.98 | $1021.47 | |
| LAMR · Lamar Advertising Co. New | 0.19 | Add 8.82% | 185,000 | $126.58 | $23,417,300 | $157.93 | +24.77% | $113.05 | $158.69 |
| BF-A · Brown Forman Corp. | 0.18 | 843,000 | $26.31 | $22,179,330 | $28.36 | +7.79% | $23.01 | $35.96 | |
| COF · Capital One Financial | 0.18 | 91,000 | $242.36 | $22,054,760 | $189.48 | -21.82% | $174.98 | $259.64 | |
| CCK · Crown Hldgs Inc. | 0.17 | Add 11.87% | 212,000 | $102.97 | $21,829,640 | $101.19 | -1.73% | $89.21 | $116.62 |
| RNR · Renaissancere Hldgs Ltd. | 0.16 | 70,000 | $281.16 | $19,681,200 | $300.16 | +6.76% | $231.17 | $318.20 | |
| WFC · Wells Fargo Co. New | 0.15 | 204,450 | $93.20 | $19,054,740 | $75.64 | -18.84% | $71.90 | $97.76 | |
| PM · Philip Morris Intl Inc. | 0.15 | 114,500 | $160.40 | $18,365,800 | $170.99 | +6.60% | $142.11 | $191.30 | |
| APD · Air Prods & Chems Inc. | 0.14 | Add 10.00% | 71,500 | $247.02 | $17,661,930 | $295.41 | +19.59% | $229.11 | $307.29 |
| PAYX · Paychex Inc. | 0.13 | 150,000 | $112.18 | $16,827,000 | $93.93 | -16.27% | $85.45 | $161.24 | |
| SHOP · Shopify Inc. | 0.13 | 102,750 | $160.97 | $16,539,668 | $110.50 | -31.35% | $99.01 | $182.19 | |
| CSX · Csx Corp. | 0.13 | Add 54.39% | 440,000 | $36.25 | $15,950,000 | $44.83 | +23.67% | $29.75 | $46.55 |
| EFX · Equifax Inc. | 0.13 | 72,850 | $216.98 | $15,806,993 | $175.83 | -18.96% | $166.02 | $281.03 | |
| SPOT · Spotify Technology S A | 0.12 | 25,900 | $580.71 | $15,040,389 | $417.83 | -28.05% | $405.00 | $785.00 | |
| 784117103 · Sei Invts Co. | 0.11 | 173,200 | $82.02 | $14,205,864 | — | — | — | — | |
| BK · Bank New York Mellon Corp. | 0.11 | 121,500 | $116.09 | $14,104,935 | $130.50 | +12.41% | $86.52 | $139.15 | |
| HXL · Hexcel Corp. New | 0.11 | 189,000 | $73.90 | $13,967,100 | $95.32 | +28.99% | $50.54 | $98.26 | |
| PEP · Pepsico Inc. | 0.11 | 96,210 | $143.52 | $13,808,059 | $154.62 | +7.73% | $127.60 | $171.48 | |
| TGT · Target Corp. | 0.10 | 133,000 | $97.75 | $13,000,750 | $125.25 | +28.13% | $83.44 | $133.10 | |
| CME · Cme Group Inc. | 0.10 | Add 42.97% | 45,750 | $273.08 | $12,493,410 | $281.25 | +2.99% | $257.17 | $329.16 |
| CARR · Carrier Global Corporation | 0.10 | 235,000 | $52.84 | $12,417,400 | $66.83 | +26.48% | $50.24 | $81.09 | |
| BF-A · Brown Forman Corp. | 0.10 | 474,187 | $26.06 | $12,357,313 | $28.36 | +8.83% | $23.01 | $35.96 | |
| HSY · Hershey Co. | 0.10 | Add 23.85% | 67,500 | $181.98 | $12,283,650 | $185.94 | +2.18% | $150.04 | $239.48 |
* Reported Price is the price of the security as of the portfolio date. This value is significant in that it is the last known price at which the security was still held. Price columns + 52-week range are placeholders pending v2 price-data feed.
Sector % analysis
10 sectors represented
Whales with similar holdings to Tom Gayner
Ranked by number of overlapping positions in current portfolios
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★ WatchlistData from SEC EDGAR · whalstreet.com