Tom Gayner

Markel Corp

Period: Q4, 2025

Filed Date: Feb 06, 2026

Reported Date: Dec 31, 2025

No. of Stocks: 128

Portfolio Value: 12.54B

SEC Reference

Holding

Activity

Stock% of portfoliioActivitySharesValueRecent Price

GOOG - Alphabet inc

6.879%2.75M862.91M$313.800

BRK-A - Berkshire hathaway inc-cl a

6.703%1114840.85M$754800.000

BRK-B - Berkshire hathaway inc-cl b

6.139%1.53M770.05M$502.650

BN - Brookfield corp

4.783%Add 50.00%13.07M599.95M$45.890

AMZN - Amazon.com inc

3.737%2.03M468.74M$230.820

DE - Deere & co

3.258%877.9K408.72M$465.570

V - Visa inc

2.794%999.285K350.46M$350.710

AAPL - Apple inc

2.660%1.23M333.65M$271.860

HD - Home depot inc

2.524%920K316.57M$344.100

GS - Goldman sachs group inc

2.518%359.36K315.88M$879.000

ADI - Analog devices inc

2.212%Reduced 12.37%1.02M277.50M$271.200

MSFT - Microsoft corp

2.065%Add 0.68%535.68K259.07M$483.620

Blackrock inc

1.879%220.2K235.69M$1070.340

DIS - Walt disney co

1.843%2.03M231.14M$113.770

LPLA - Lpl financial holdings inc.

1.594%Add 1.20%559.951K200.00M$357.170

WSO - Watsco inc

1.552%Add 2.21%577.669K194.65M$336.950

BX - Blackstone inc

1.510%1.23M189.44M$154.140

CAT - Caterpillar inc

1.501%328.65K188.27M$572.870

KKR - Kkr & co inc

1.475%1.45M185.08M$127.480

AXP - American express co

1.441%Add 0.88%488.5K180.72M$369.950

GOOGL - Alphabet inc

1.427%572K179.04M$313.000

LOW - Lowe's companies inc

1.412%Add 1.07%734.48K177.13M$241.160

PGR - Progressive corp

1.368%753.75K171.64M$227.720

META - Meta platforms inc

1.307%Reduced 11.41%248.303K163.90M$660.090

RLI - Rli corp

1.221%2.39M153.20M$63.980

APO - Apollo global management inc

1.168%1.01M146.57M$144.760

NVO - Novo nordisk a/s

1.164%Add 21.16%2.87M146.01M$50.880

FNV - Franco-nevada corp

1.129%Add 12.88%683.5K141.68M$207.280

MMC - Marsh & mclennan companies inc

1.127%Add 0.89%761.75K141.32M$185.520

SCHW - Charles schwab corp

1.096%Add 0.81%1.38M137.46M$99.910

GD - General dynamics corp

1.049%391K131.63M$336.660

JNJ - Johnson & johnson

1.008%610.8K126.41M$206.950

TXN - Texas instruments inc

1.001%724K125.61M$173.490

MA - Mastercard inc

0.944%207.54K118.48M$570.880

DEO - Diageo plc

0.943%Add 0.37%1.37M118.34M$86.270

DG - Dollar general corp

0.920%869.25K115.41M$132.770

BAM - Brookfield asset management ltd.

0.916%2.19M114.94M$52.390

MCO - Moody's corp

0.871%213.89K109.27M$510.850

HEI-A - Heico corp-class a

0.764%379.644K95.83M$252.430

ROL - Rollins inc

0.712%Add 0.90%1.49M89.37M$60.020

NVR - Nvr inc

0.698%Add 0.92%12.007K87.56M$7292.770

ADM - Archer-daniels-midland co

0.690%1.51M86.57M$57.490

LIN - Linde plc

0.680%Add 3.76%200.1K85.32M$426.390

MSCI - Msci inc

0.653%142.85K81.96M$573.730

JPM - Jpmorgan chase & co

0.649%252.55K81.38M$322.220

ITW - Illinois tool works inc

0.643%327.5K80.66M$246.300

NSC - Norfolk southern corp

0.629%Add 6.63%273.5K78.96M$288.720

SPGI - S&p global inc

0.628%150.69K78.75M$522.590

CG - Carlyle group inc

0.625%1.33M78.44M$59.110

ECL - Ecolab inc

0.574%274.3K72.01M$262.520

ODFL - Old dominion freight line inc

0.527%Add 17.53%421.65K66.11M$156.800

ROK - Rockwell automation, inc

0.480%154.9K60.27M$389.070

ITIC - Investors title co

0.424%213.3K53.25M$249.640

SBUX - Starbucks corp

0.419%623.818K52.53M$84.210

TSN - Tyson foods, inc.

0.413%Add 4.24%884.5K51.85M$58.620

THG - Hanover insurance group inc

0.409%281K51.36M$182.770

AON - Aon plc

0.377%Add 3.27%134.05K47.30M$352.880

ACN - Accenture plc

0.341%159.4K42.77M$268.300

HGTY - Hagerty inc

0.333%3.11M41.77M$13.440

RTX - Rtx corp

0.327%224K41.08M$183.400

HCA - Hca healthcare inc

0.300%Add 7.27%80.68K37.67M$466.860

Ferguson enterprises inc

0.290%Add 11.22%163.5K36.40M$222.630

TMO - Thermo fisher scientific inc

0.290%Add 12.54%62.8K36.39M$579.450

FDS - Factset research systems inc

0.282%Add 4.41%121.873K35.37M$290.190

VRSK - Verisk analytics, inc.

0.278%155.95K34.88M$223.690

YUM - Yum brands inc

0.273%226.451K34.26M$151.280

COST - Costco wholesale corp

0.269%39.15K33.76M$862.340

UNP - Union pacific corp

0.261%Add 11.44%141.278K32.68M$231.320

ABNB - Airbnb inc

0.260%Add 5.79%240.289K32.61M$135.720

ALL - Allstate corp

0.256%154.55K32.17M$208.150

TROW - T rowe price group inc

0.256%314K32.15M$102.380

LMT - Lockheed martin corp

0.249%Add 3.61%64.513K31.20M$483.670

SHW - Sherwin-williams co

0.243%94.172K30.51M$324.030

CMCSA - Comcast corp

0.229%961.88K28.75M$29.890

NKE - Nike inc

0.227%447.4K28.50M$63.710

MAR - Marriott international inc

0.222%Add 22.53%89.75K27.84M$310.240

CSCO - Cisco systems inc

0.218%355.5K27.38M$77.030

URI - United rentals inc

0.201%31.15K25.21M$809.320

LAMR - Lamar advertising co/new

0.187%Add 8.82%185K23.42M$126.580

BF-A - Brown-forman corp-class a

0.177%843K22.18M$26.310

COF - Capital one financial corp

0.176%91K22.05M$242.360

CCK - Crown holdings inc

0.174%Add 11.87%212K21.83M$102.970

RNR - Renaissancere holdings ltd

0.157%70K19.68M$281.160

WFC - Wells fargo & co

0.152%204.45K19.05M$93.200

PM - Philip morris international inc

0.146%114.5K18.37M$160.400

APD - Air products and chemicals inc

0.141%Add 10.00%71.5K17.66M$247.020

PAYX - Paychex inc

0.134%150K16.83M$112.180

SHOP - Shopify inc

0.132%102.75K16.54M$160.970

CSX - Csx corp

0.127%Add 54.39%440K15.95M$36.250

EFX - Equifax inc

0.126%72.85K15.81M$216.980

SPOT - Spotify technology sa

0.120%25.9K15.04M$580.710

SEIC - Sei investments co

0.113%173.2K14.21M$82.020

BK - Bank of new york mellon corp

0.112%121.5K14.10M$116.090

HXL - Hexcel corp

0.111%189K13.97M$73.900

PEP - Pepsico inc

0.110%96.21K13.81M$143.520

TGT - Target corp

0.104%133K13.00M$97.750

CME - Cme group inc

0.100%Add 42.97%45.75K12.49M$273.080

CARR - Carrier global corp

0.099%235K12.42M$52.840

BF-B - Brown-forman corp-class b

0.099%474.187K12.36M$26.060

HSY - Hershey co

0.098%Add 23.85%67.5K12.28M$181.980

FIX - Comfort systems usa inc

0.097%13K12.13M$933.290

UBER - Uber technologies inc

0.091%Add 13.36%140K11.44M$81.710

CHH - Choice hotels international inc

0.088%115.5K11.00M$95.260

IQV - Iqvia holdings inc

0.084%46.9K10.57M$225.410

CBOE - Cboe global mkt

0.084%Add 46.49%41.75K10.48M$251.000

OTIS - Otis worldwide corp

0.080%114.62K10.01M$87.350

SMG - Scotts miracle-gro co

0.078%168K9.80M$58.350

AMAT - Applied materials inc

0.070%Add 29.90%34.1K8.76M$256.990

UNH - Unitedhealth group inc

0.070%26.5K8.75M$330.110

HII - Huntington ingalls industries inc

0.069%Add 24.39%25.5K8.67M$340.070

SONY - Sony group corp

0.068%335K8.58M$25.600

NSP - Insperity inc

0.047%Add 16.05%152.873K5.92M$38.720

GHC - Graham holdings co

0.046%52005.71M$1098.600

KMX - Carmax inc

0.042%136.5K5.27M$38.640

EMN - Eastman chemical co

0.038%74.95K4.78M$63.830

XOM - Exxon mobil corp

0.036%Add 1166.67%38K4.57M$120.340

CNI - Canadian national railway co

0.035%Add 78.00%44.5K4.40M$98.850

WRB - W r berkley corp

0.034%60.75K4.26M$70.120

CP - Canadian pacific kansas city ltd

0.030%Add 62.90%50.5K3.72M$73.630

BC - Brunswick corp

0.028%Add 42.54%47.75K3.54M$74.240

AYI - Acuity brands inc

0.028%97503.51M$360.040

ICE - Intercontinental exchange inc

0.027%Add 271.35%20.87K3.38M$161.960

MGM - Mgm resorts international

0.025%87.5K3.19M$36.490

EXP - Eagle materials inc

0.024%14.75K3.05M$206.680

DPZ - Dominos pizza inc

0.018%55002.29M$416.820

SYY - Sysco corp

0.018%30.5K2.25M$73.690

BRO - Brown & brown, inc.

0.007%Buy11K876.7K$79.700

TRU - Transunion

0.001%Reduced 98.02%2000171.5K$85.750