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← Thomas Gayner

Thomas Gayner's 2025Q4 portfolio

Thomas Gayner (Markel Group) held 109 positions as of Dec 31, 2025, with the largest position at 6.9% of the portfolio.

Showing positions still held at the most recent quarter so their historical weights can be reconstructed. Positions that were held in 2025Q4but have since been exited aren't included in this table — for a full point-in-time reconstruction, use the SEC EDGAR filing directly.

Holdings as of Dec 31, 2025 (109)

  1. 1GOOGAlphabet Inc-cl C
    % port
    6.9%
    +1.4pp vs prior Qnow 6.6%
  2. 2BRK/ABerkshire Hathaway Inc-cl A
    % port
    6.7%
    -0.1pp vs prior Q
  3. 3BRK/BBerkshire Hathaway Inc-cl B
    % port
    6.1%
    -0.1pp vs prior Q
  4. 4BNBrookfield Corp
    % port
    4.8%
    now 4.4%
  5. 5AMZNAmazon.com Inc
    % port
    3.7%
    +0.1pp vs prior Qnow 3.5%
  6. 6DEDeere & CO
    % port
    3.3%
    now 4.1%
  7. 7VVisa Inc-class A Shares
    % port
    2.8%
    now 2.5%
  8. 8AAPLApple Inc
    % port
    2.7%
    +0.1pp vs prior Q
  9. 9HDHome Depot Inc
    % port
    2.5%
    -0.5pp vs prior Q
  10. 10GSGoldman Sachs Group Inc
    % port
    2.5%
    +0.2pp vs prior Q
  11. 11ADIAnalog Devices Inc
    % port
    2.2%
    -0.1pp vs prior Qnow 2.7%
  12. 12MSFTMicrosoft Corp
    % port
    2.1%
    -0.2pp vs prior Qnow 1.7%
  13. 13BLKBlackrock Inc
    % port
    1.9%
    -0.2pp vs prior Qnow 1.8%
  14. 14DISWalt Disney Co/the
    % port
    1.8%
    now 1.6%
  15. 15LPLALpl Financial Holdings Inc
    % port
    1.6%
    +0.1pp vs prior Qnow 1.4%
  16. 16WSOWatsco Inc
    % port
    1.6%
    -0.3pp vs prior Qnow 1.8%
  17. 17BXBlackstone Inc
    % port
    1.5%
    -0.2pp vs prior Qnow 1.2%
  18. 18CATCaterpillar Inc
    % port
    1.5%
    +0.2pp vs prior Qnow 1.9%
  19. 19KKRKkr & CO Inc
    % port
    1.5%
    now 1.1%
  20. 20AXPAmerican Express CO
    % port
    1.4%
    +0.1pp vs prior Qnow 1.2%
  21. 21GOOGLAlphabet Inc-cl A
    % port
    1.4%
    +0.3pp vs prior Q
  22. 22LOWLowe's Cos Inc
    % port
    1.4%
  23. 23PGRProgressive Corp
    % port
    1.4%
    -0.1pp vs prior Qnow 1.3%
  24. 24METAMeta Platforms Inc-class A
    % port
    1.3%
    -0.4pp vs prior Qnow 1.2%
  25. 25RLIRli Corp
    % port
    1.2%
  26. 26APOApollo Global Management Inc
    % port
    1.2%
    now 0.9%
  27. 27NVONovo-nordisk A/s-spons Adr
    % port
    1.2%
    now 0.9%
  28. 28FNVFranco-nevada Corp
    % port
    1.1%
    now 1.5%
  29. 29MRSHMarsh & Mclennan Cos
    % port
    1.1%
    -0.1pp vs prior Q
  30. 30SCHWSchwab (charles) Corp
    % port
    1.1%
  31. 31GDGeneral Dynamics Corp
    % port
    1.0%
  32. 32JNJJohnson & Johnson
    % port
    1.0%
    now 1.3%
  33. 33TXNTexas Instruments Inc
    % port
    1.0%
    now 1.2%
  34. 34MAMastercard Inc - A
    % port
    0.9%
  35. 35DEODiageo Plc-sponsored Adr
    % port
    0.9%
    -0.1pp vs prior Q
  36. 36DGDollar General Corp
    % port
    0.9%
    +0.2pp vs prior Q
  37. 37BAMBrookfield Asset Mgmt-a
    % port
    0.9%
  38. 38MCOMoody's Corp
    % port
    0.9%
  39. 39HEI/AHeico Corp-class A
    % port
    0.8%
  40. 40ROLRollins Inc
    % port
    0.7%
  41. 41NVRNvr Inc
    % port
    0.7%
  42. 42ADMArcher-daniels-midland CO
    % port
    0.7%
    now 0.9%
  43. 43LINLinde Plc
    % port
    0.7%
    now 0.8%
  44. 44MSCIMsci Inc
    % port
    0.7%
  45. 45JPMJpmorgan Chase & CO
    % port
    0.6%
  46. 46ITWIllinois Tool Works
    % port
    0.6%
  47. 47NSCNorfolk Southern Corp
    % port
    0.6%
  48. 48SPGIS&p Global Inc
    % port
    0.6%
    now 0.4%
  49. 49CGCarlyle Group Inc/the
    % port
    0.6%
  50. 50ECLEcolab Inc
    % port
    0.6%

13F-HR filings disclose long US-equity positions only. 13Fs don't cover shorts, bonds, derivatives, or non-US listings, so the picture here is the public part of the portfolio — not the whole.

Not investment advice.