Thomas Gayner - Markel Asset Management
As of Q2 2026, Thomas Gayner reported 130 long-equity positions worth $13.13B in aggregate.
Copy-investor backtest
- Latest quarter
- +2.15%
- 1-year
- +12.18%
- 3-year
- +45.42%
- 5-year
- +43.61%
- 3-year vs S&P 500
- -21.77%
- 5-year vs S&P 500
- -25.22%
- 5-year top 5
- +48.42%
Return from mechanically copying the disclosed 13F equity portfolio after each filing and rebalancing at the next. The vs S&P 500 figures subtract SPY over that manager's own rebalance dates, so both sides cover the same days; both are price return, excluding dividends. Method & limitations.
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Updated 2026-06-06 from SEC 13F data.
Live quotes available for 97 of 114 rows. Rows without a quote are marked unavailable.
| 1 | BRK/A | Berkshire Hathaway, Inc.CUSIP 084670108 | 6.05% | - | 1,114 | $356.48M | No quote | No quote |
| 2 | BRK/B | Berkshire Hathaway Class BCUSIP 084670702 | 5.53% | - | 1,531,687 | $326.16M | No quote | No quote |
| 3 | AMZN | Amazon.com | 5.26% | - | 98,442 | $309.97M | $3148.74 | |
| 4 | BAM | Brookfield Asset Management | 4.88% | - | 8,700,661 | $287.64M | $33.06 | No quote |
| 5 | HD | Home Depot | 4.33% | - | 920,000 | $255.49M | $277.71 | |
| 6 | DIS | Disney | 3.92% | - | 1,862,380 | $231.08M | $124.08 | |
| 7 | GOOG | Alphabet Inc | 3.43% | - | 137,493 | $202.06M | $1469.60 | |
| 8 | V | Visa | 3.24% | - | 956,650 | $191.3M | $199.97 | |
| 9 | DEO | Diageo PLC | 3.15% | - | 1,349,800 | $185.81M | $137.66 | |
| 10 | DE | John Deere | 2.84% | - | 755,800 | $167.51M | $221.63 | |
| 11 | AAPL | Apple Inc | 2.36% | -4:1 split | 1,202,540 | $139.27M | $115.81 | |
| 12 | BLK | Blackrock Inc | 2.10% | - | 220,200 | $124.09M | $563.55 | |
| 13 | ADI | Analog Devices Inc | 1.75% | - | 885,811 | $103.41M | $116.74 | |
| 14 | TXN | Texas Instruments Inc | 1.75% | - | 724,000 | $103.38M | $142.79 | |
| 15 | MSFT | Microsoft Corp | 1.71% | - | 478,620 | $100.67M | $210.33 | |
| 16 | RLI | RLI Corporation | 1.70% | - | 1,197,272 | $100.25M | $83.73 | |
| 17 | LOW | Lowes | 1.66% | - | 588,500 | $97.61M | $165.86 | |
| 18 | WSO | Watsco Inc | 1.57% | - | 397,000 | $92.46M | $232.89 | |
| 19 | JNJ | Johnson and Johnson | 1.54% | - | 610,800 | $90.94M | $148.88 | |
| 20 | NVO | Novo-Nordisk A/S | 1.27% | - | 1,075,000 | $74.64M | $69.43 | |
| 21 | MA | Mastercard, Inc | 1.19% | - | 207,370 | $70.13M | $338.17 | |
| 22 | MMC | Marsh & McLennan | 1.19% | - | 609,500 | $69.91M | No quote | No quote |
| 23 | GS | Goldman Sachs | 1.17% | - | 342,800 | $68.89M | $200.97 | |
| 24 | ADM | Archer Daniels | 1.17% | - | 1,478,300 | $68.73M | $46.49 | |
| 25 | BX | Blackstone Group | 1.09% | - | 1,229,000 | $64.15M | $52.20 | |
| 26 | PGR | Progressive Corp | 1.08% | - | 674,500 | $63.86M | $94.67 | |
| 27 | ITW | Illinois Tool Works | 1.07% | - | 327,500 | $63.28M | $193.21 | |
| 28 | ECL | Ecolab | 1.05% | - | 309,300 | $61.81M | $199.84 | |
| 29 | MCO | Moody's Corp | 1.04% | - | 211,080 | $61.18M | $289.85 | |
| 30 | BF/A | Brown Forman Class ACUSIP 115637100 | 0.98% | - | 843,000 | $57.9M | No quote | No quote |
| 31 | GD | General Dynamics | 0.91% | - | 387,000 | $53.57M | $138.43 | |
| 32 | SPGI | S&P Global | 0.90% | - | 147,000 | $53.01M | $360.61 | |
| 33 | WHR | Whirlpool Corp | 0.84% | - | 270,939 | $49.82M | $183.89 | |
| 34 | NSC | Norfolk Southern | 0.83% | - | 229,500 | $49.11M | $213.99 | |
| 35 | MSCI | MSCI | 0.83% | - | 137,000 | $48.88M | $356.78 | |
| 36 | AXP | American Express | 0.82% | - | 483,950 | $48.52M | $100.25 | |
| 37 | KKR | KKR & Co LLC | 0.80% | - | 1,379,400 | $47.37M | $34.34 | |
| 38 | NKE | Nike | 0.78% | - | 366,000 | $45.95M | $125.54 | |
| 39 | SBUX | Starbucks Corp | 0.77% | - | 527,818 | $45.35M | $85.92 | |
| 40 | APO | Apollo Global Management - A | 0.77% | - | 1,012,500 | $45.31M | $44.75 | |
| 41 | ROL | Rollins, Inc. | 0.76% | - | 828,850 | $44.92M | $54.19 | |
| 42 | CAT | Caterpillar Inc | 0.73% | - | 287,500 | $42.88M | $149.15 | |
| 43 | TROW | T.Rowe Price | 0.68% | - | 314,000 | $40.26M | $128.22 | |
| 44 | SCHW | Charles Schwab | 0.67% | - | 1,095,300 | $39.68M | $36.23 | |
| 45 | FDS | Factset Research | 0.66% | - | 116,680 | $39.07M | $334.88 | |
| 46 | NVR | NVR Inc | 0.66% | - | 9,495 | $38.77M | $4083.10 | |
| 47 | META | 0.64% | - | 145,000 | $37.98M | $261.90 | ||
| 48 | MMM | 3M Company | 0.64% | - | 234,200 | $37.51M | $160.18 | |
| 49 | SRCL | Stericycle Inc | 0.63% | - | 593,700 | $37.44M | No quote | No quote |
| 50 | ACN | Accenture | 0.61% | - | 159,400 | $36.02M | $225.99 | |
| 51 | BF/B | Brown-Forman Class BCUSIP 115637209 | 0.61% | - | 474,187 | $35.72M | No quote | No quote |
| 52 | CFX | Colfax Corporation | 0.60% | - | 1,135,070 | $35.6M | No quote | No quote |
| 53 | ROK | Rockwell Automation Inc | 0.53% | - | 142,100 | $31.36M | $220.68 | |
| 54 | HEI/A | Heico Corp Class ACUSIP 422806208 | 0.52% | - | 343,144 | $30.42M | No quote | No quote |
| 55 | CG | The Carlyle Group | 0.51% | - | 1,222,000 | $30.15M | $24.67 | |
| 56 | LBRDA | Liberty Broadband A | 0.49% | - | 205,250 | $29.11M | $141.81 | |
| 57 | MHK | Mohawk Industries | 0.49% | - | 295,000 | $28.79M | $97.59 | |
| 58 | ITIC | Investors Title Company | 0.47% | - | 213,300 | $27.74M | $130.06 | |
| 59 | LBRDK | Liberty Broadband Class C | 0.42% | - | 172,113 | $24.59M | $142.87 | |
| 60 | CMCSA | Comcast Corp- Class A | 0.41% | - | 522,000 | $24.15M | $46.26 | |
| 61 | ATVI | Activision Blizzard Inc | 0.39% | - | 283,800 | $22.97M | No quote | No quote |
| 62 | LIN | Linde PLC | 0.38% | - | 94,400 | $22.48M | $238.14 | |
| 63 | TSN | Tyson Foods | 0.37% | - | 369,000 | $21.95M | $59.48 | |
| 64 | SHW | Sherwin Williams | 0.37% | - | 31,000 | $21.6M | $696.74 | |
| 65 | JPM | JP Morgan | 0.35% | - | 217,350 | $20.92M | $96.27 | |
| 66 | SEIC | SEI Investments Co | 0.33% | - | 383,200 | $19.44M | $50.72 | |
| 67 | CVS | CVS Corporation | 0.33% | - | 332,000 | $19.39M | $58.40 | |
| 68 | GOOGL | Alphabet Inc Class A | 0.31% | - | 12,500 | $18.32M | $1465.60 | |
| 69 | EFX | Equifax Inc | 0.30% | - | 114,000 | $17.89M | $156.90 | |
| 70 | LSXMK | Liberty Sirius Group C | 0.29% | - | 522,000 | $17.27M | No quote | No quote |
| 71 | MXIM | Maxim Integrated Products | 0.29% | - | 252,000 | $17.04M | No quote | No quote |
| 72 | UNP | Union Pacific | 0.28% | - | 85,370 | $16.81M | $196.87 | |
| 73 | MCHP | Microchip Technology | 0.28% | - | 163,000 | $16.75M | $102.76 | |
| 74 | EA | Electronic Arts Inc | 0.28% | - | 125,200 | $16.33M | $130.41 | |
| 75 | HCSG | Healthcare Services Group | 0.26% | - | 698,500 | $15.04M | $21.53 | |
| 76 | LSXMA | Liberty Sirius Group A | 0.24% | - | 426,000 | $14.13M | No quote | No quote |
| 77 | COST | Costco | 0.24% | - | 39,150 | $13.9M | $354.99 | |
| 78 | VRSK | Verisk Analytics Inc | 0.23% | - | 74,000 | $13.71M | $185.31 | |
| 79 | CSCO | Cisco | 0.23% | - | 342,000 | $13.47M | $39.39 | |
| 80 | PEP | Pepsico | 0.22% | - | 95,600 | $13.25M | $138.60 | |
| 81 | IFF | Intl Flavors & Fragrances | 0.22% | - | 107,000 | $13.1M | $122.45 | |
| 82 | RTX | Raytheon Technologies Ord | 0.22% | - | 224,000 | $12.89M | $57.54 | |
| 83 | AMT | American Tower | 0.21% | - | 51,150 | $12.37M | $241.74 | |
| 84 | BK | Bank of New York Mellon Corp | 0.20% | - | 350,000 | $12.02M | $34.34 | |
| 85 | PAYX | Paychex | 0.20% | - | 150,000 | $11.97M | $79.77 | |
| 86 | TRUP | Trupanion | 0.18% | - | 133,300 | $10.52M | $78.90 | |
| 87 | CABO | Cable One | 0.17% | - | 5,200 | $9.8M | $1885.38 | |
| 88 | CCK | Crown Holdings Inc | 0.15% | - | 116,000 | $8.92M | $76.86 | |
| 89 | PM | Philip Morris International | 0.15% | - | 114,500 | $8.59M | $74.99 | |
| 90 | TRU | TransUnion | 0.13% | - | 94,500 | $7.95M | $84.13 | |
| 91 | AON | Aon Corporation | 0.13% | - | 37,000 | $7.63M | $206.30 | |
| 92 | OTIS | Otis Elevator | 0.12% | - | 112,000 | $6.99M | $62.42 | |
| 93 | CARR | Carrier Air Conditioning | 0.12% | - | 224,000 | $6.84M | $30.54 | |
| 94 | ALB | Albemarle Corp | 0.12% | - | 76,000 | $6.79M | $89.28 | |
| 95 | HXL | Hexcel Corp | 0.11% | - | 189,000 | $6.34M | $33.55 | |
| 96 | OI | Owens-Illinois Inc | 0.08% | - | 444,000 | $4.7M | No quote | No quote |
| 97 | WFC | Wells Fargo | 0.08% | - | 195,450 | $4.6M | $23.51 | |
| 98 | BALL | Ball Corporation | 0.06% | - | 46,000 | $3.82M | $83.13 | |
| 99 | LBTYA | Liberty Global PLC | 0.06% | - | 179,000 | $3.76M | $21.01 | |
| 100 | Y | Alleghany Corporation | 0.04% | - | 4,328 | $2.25M | No quote | No quote |
| 101 | GHC | Graham Holdings Co | 0.04% | - | 5,200 | $2.1M | $404.04 | |
| 102 | SHAK | Shake Shack Inc - Class A | 0.03% | - | 30,600 | $1.97M | $64.48 | |
| 103 | WRB | WR Berkley Corp | 0.03% | - | 27,000 | $1.65M | $61.15 | |
| 104 | GWRE | Guidewire Software Inc | 0.02% | - | 13,000 | $1.36M | $104.31 | |
| 105 | ILMN | Illumina Inc | 0.02% | - | 4,000 | $1.24M | $309.00 | |
| 106 | DHI | DR Horton Inc | 0.02% | - | 13,999 | $1.06M | $75.58 | |
| 107 | C | Citigroup Inc | 0.02% | - | 22,620 | $975K | $43.10 | |
| 108 | LEN/B | Lennar Corp - BCUSIP 526057302 | 0.01% | - | 13,000 | $854K | No quote | No quote |
| 109 | LAMR | Lamar Advertising Company | 0.01% | - | 8,500 | $562K | $66.12 | |
| 110 | EMN | Eastman Chemical Company | 0.01% | - | 6,000 | $469K | $78.17 | |
| 111 | MTCH | Match Group Inc | 0.01% | New | 3,561 | $394K | $110.64 | |
| 112 | TWTR | Twitter Inc | 0.01% | - | 8,500 | $378K | No quote | No quote |
| 113 | PYPL | PayPal Holdings Inc | 0.01% | - | 1,830 | $361K | $197.27 | |
| 114 | IAC | InterActiveCorp | - | Sold | 0 | $0 | No quote | No quote |