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Markel Group
Has run Markel's investment portfolio since joining in 1990 and became CEO in 2023. Like Berkshire, Markel invests insurance float in public equities held for the long term.
Markel Group reported 130 positions worth $13.13B in U.S.-listed equities as of Q2 2026. It opened 2 new positions that quarter. It exited 2 positions. The largest holding is Alphabet Inc. (GOOG), at 7.4% of the portfolio. The biggest new position was Zoetis Inc (ZTS), at $4.76M. The ten largest holdings account for 43% of the total.
Positions as of Q2 2026, per the 13F filed on Jul 31, 2026. Current positions may differ.
Positions opened, added to, trimmed or closed in the Q2 2026 filing.
A 13F does not report cash. It covers only U.S.-listed securities — cash, bonds, foreign stocks and private holdings are invisible in it, which is why Berkshire’s cash pile appears in its 10-Q and not here. What the filing does show is direction: selling more than buying means money left U.S. equities that quarter. Where it went — cash, fixed income, other markets — the form does not say.
Estimated across every position in each quarter, so a single stock can be compared against the whole. Same caveat as elsewhere: a 13F reports the share count on the last day of the quarter, while dividends are paid throughout it.
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