Markel Group Inc. Discloses $12.84 Billion in Q3 2026 13F Equity Holdings

Executive Summary

On October 30, 2026, Markel Group Inc. filed its Form 13F-HR for the quarterly period ended September 30, 2026. The report details 220 entries totaling an aggregate market value of $12,839,103,847 ($12.84 billion).

Investment discretion is shared across Markel Group Inc. and its subsidiary manager, Markel-Gayner Asset Management LLC (CIK: 0001034180), overseen by CEO Thomas S. Gayner.

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Notable Portfolio Holdings

1. Berkshire Hathaway Inc. (BRK.A & BRK.B)

   • Class A: 1,114 shares valued at ~$832.16M across SOLE and DFND accounts.
   • Class B: 1,531,971 shares valued at ~$762.84M across SOLE and DFND accounts.
   • Total Position: ~$1.595 billion (~12.4% of total reported equity assets).

2. Alphabet Inc. (GOOG / GOOGL)

   • Class C (GOOG): 2,749,860 shares valued at ~$936.99M.
   • Class A (GOOGL): 519,975 shares valued at ~$178.91M.
   • Total Position: ~$1.116 billion (~8.7% of total reported equity assets).

3. Deere & Co (DE)

   • 861,150 shares valued at $578.31M.

4. Amazon.com Inc. (AMZN)

   • 2,030,760 shares valued at $505.96M combined.

5. Apple Inc. (AAPL)

   • 1,227,290 shares valued at $408.71M combined.

6. Analog Devices Inc. (ADI)

   • 999,671 shares valued at $396.58M combined.

7. Visa Inc. (V)

   • 1,013,912 shares valued at $364.33M combined.

8. Goldman Sachs Group Inc. (GS)

   • 359,360 shares valued at $323.55M combined.

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Strategic Implications

Markel Group continues to maintain its disciplined, long-duration equity holding strategy, characterized by significant core exposures to diversified financial institutions, large-cap technology platforms, and industrial bellwethers. The high concentration in Berkshire Hathaway and high-return-on-capital businesses remains consistent with Thomas Gayner's established capital allocation philosophy.