Smart Money Radar / Whales / Tom Gayner
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Tom Gayner

Markel Group Inc. · Holdings as of Sep 30, 2025, filed by Nov 15, 2025 · US long stock positions only

Insurance float compounder in the Berkshire mold.

Reported value
$12B
60 positions shown
Copycat since 2016
3.25x
12% per year
vs SPY
behind
SPY 3.57x same window
Top position
BRK.A
7% of book

Copying these filings vs SPY

$1 at every deadline since 2016
SPY 3.57x Tom Gayner 3.25x
Price returns, dividends excluded on both lines. A copycat of public filings traded at each deadline, not the fund's actual performance.
Mar 2026 Dec 2025 Sep 2025 Jun 2025 Mar 2025 Dec 2024 Sep 2024 Jun 2024 Mar 2024 Dec 2023 Sep 2023 Jun 2023

The book

tile = share of the filed book · tap a tile for the ticker · Sep 2025
BRK.A 7% BRK.B 6% GOOG 5% BN 5% AMZN 4% DE 3% HD 3% V 3% AAPL 3% ADI 2% GS 2% MSFT 2% BLK 2% DIS 2% WSO 2%
Top 15 positions shown, 51% of the book; 114 smaller names hold the rest.
SymbolValue% of bookvs prior quarter
BRK.A $840M 7% unchanged
BRK.B $770M 6% unchanged
GOOG $670M 5% unchanged
BN $598M 5% unchanged
AMZN $446M 4% unchanged
DE $401M 3% unchanged
HD $373M 3% unchanged
V $341M 3% unchanged
AAPL $313M 3% unchanged
ADI $287M 2% unchanged
GS $286M 2% unchanged
MSFT $276M 2% unchanged
BLK $257M 2% unchanged
DIS $233M 2% unchanged
WSO $228M 2% unchanged
BX $210M 2% unchanged
META $206M 2% unchanged
KKR $189M 2% unchanged
PGR $186M 2% unchanged
LPLA $184M 1% unchanged
LOW $183M 1% unchanged
AXP $161M 1% unchanged
CAT $157M 1% unchanged
RLI $156M 1% unchanged
MRSH $152M 1% unchanged
GOOGL $139M 1% unchanged
FNV $135M 1% added
APO $135M 1% unchanged
GD $133M 1% unchanged
TXN $133M 1% unchanged
NVO $131M 1% added
DEO $130M 1% unchanged
SCHW $130M 1% unchanged
BAM $125M 1% unchanged
MA $118M 1% unchanged
JNJ $113M 1% unchanged
MCO $102M 1% unchanged
HEI.A $96M 1% unchanged
NVR $96M 1% unchanged
LIN $92M 1% added
ADM $90M 1% trimmed
DG $90M 1% unchanged
ROL $87M 1% unchanged
ITW $85M 1% unchanged
CG $83M 1% unchanged
MSCI $81M 1% unchanged
JPM $80M 1% unchanged
NSC $77M 1% added
ECL $75M 1% unchanged
SPGI $73M 1% unchanged
ITIC $57M 0% unchanged
ROK $54M 0% unchanged
SBUX $53M 0% unchanged
THG $51M 0% unchanged
ODFL $51M 0% added
FDX $50M 0% unchanged
AON $46M 0% unchanged
TSN $46M 0% added
unlisted $39M 0% unchanged
VRSK $39M 0% unchanged
Positions built under SEC confidential treatment appear only after the SEC releases them. Cash, foreign listings and shorts never appear in these filings.