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 99 of 116 rows. Rows without a quote are marked unavailable.
| 1 | BRK/A | BERKSHIRE HATHAWAY ICUSIP 084670108 | 5.77% | - | 1,114 | $387.47M | No quote | No quote |
| 2 | BAM | BROOKFIELD ASSET MGM | 5.35% | Add +0.1% | 8,706,561 | $359.32M | $41.27 | No quote |
| 3 | BRK/B | BERKSHIRE HATHAWAY ICUSIP 084670702 | 5.29% | Add +0.0% | 1,531,971 | $355.22M | No quote | No quote |
| 4 | DIS | DISNEY WALT CO | 5.03% | Add +0.1% | 1,863,585 | $337.65M | $181.18 | |
| 5 | AMZN | AMAZON COM INC | 4.78% | - | 98,442 | $320.62M | $3256.92 | |
| 6 | HD | HOME DEPOT INC | 3.64% | - | 920,000 | $244.37M | $265.62 | |
| 7 | GOOG | ALPHABET INC | 3.59% | - | 137,493 | $240.87M | $1751.88 | |
| 8 | DEO | DIAGEO PLC | 3.19% | Add +0.0% | 1,350,108 | $214.41M | $158.81 | |
| 9 | V | VISA INC | 3.12% | Add +0.0% | 956,740 | $209.27M | $218.73 | |
| 10 | DE | DEERE & CO | 3.03% | - | 755,800 | $203.35M | $269.05 | |
| 11 | AAPL | APPLE INC | 2.37% | Reduce -0.3% | 1,198,540 | $159.04M | $132.69 | |
| 12 | BLK | BLACKROCK INC | 2.37% | - | 220,200 | $158.88M | $721.54 | |
| 13 | ADI | ANALOG DEVICES INC | 1.95% | - | 885,811 | $130.86M | $147.73 | |
| 14 | RLI | RLI CORP | 1.86% | - | 1,197,272 | $124.7M | $104.15 | |
| 15 | TXN | TEXAS INSTRS INC | 1.77% | - | 724,000 | $118.83M | $164.13 | |
| 16 | MSFT | MICROSOFT CORP | 1.59% | Add +0.0% | 478,720 | $106.48M | $222.42 | |
| 17 | JNJ | JOHNSON & JOHNSON | 1.43% | - | 610,800 | $96.13M | $157.38 | |
| 18 | LOW | LOWES COS INC | 1.41% | - | 588,500 | $94.46M | $160.51 | |
| 19 | GS | GOLDMAN SACHS GROUP | 1.35% | Add +0.2% | 343,500 | $90.58M | $263.71 | |
| 20 | WSO | WATSCO INC | 1.35% | Add +0.5% | 399,000 | $90.39M | $226.55 | |
| 21 | BX | BLACKSTONE GROUP INC | 1.19% | - | 1,229,000 | $79.65M | $64.81 | |
| 22 | NVO | NOVO-NORDISK A S | 1.12% | - | 1,075,000 | $75.09M | $69.85 | |
| 23 | ADM | ARCHER DANIELS MIDLA | 1.11% | - | 1,478,300 | $74.52M | $50.41 | |
| 24 | MA | MASTERCARD INCORPORA | 1.10% | Add +0.0% | 207,400 | $74.03M | $356.94 | |
| 25 | MMC | MARSH & MCLENNAN COS | 1.06% | - | 609,500 | $71.31M | No quote | No quote |
| 26 | ECL | ECOLAB INC | 1.00% | - | 309,300 | $66.92M | $216.36 | |
| 27 | PGR | PROGRESSIVE CORP | 1.00% | Add +0.3% | 676,500 | $66.89M | $98.88 | |
| 28 | ITW | ILLINOIS TOOL WKS IN | 0.99% | - | 327,500 | $66.77M | $203.88 | |
| 29 | BF/A | BROWN FORMAN CORPCUSIP 115637100 | 0.92% | - | 843,000 | $61.94M | No quote | No quote |
| 30 | MCO | MOODYS CORP | 0.91% | Add +0.0% | 211,100 | $61.27M | $290.24 | |
| 31 | MSCI | MSCI INC | 0.91% | - | 137,000 | $61.18M | $446.53 | |
| 32 | AXP | AMERICAN EXPRESS CO | 0.87% | - | 483,950 | $58.51M | $120.91 | |
| 33 | SCHW | SCHWAB CHARLES CORP | 0.87% | - | 1,095,300 | $58.1M | $53.04 | |
| 34 | GD | GENERAL DYNAMICS COR | 0.86% | - | 387,000 | $57.59M | $148.82 | |
| 35 | SBUX | STARBUCKS CORP | 0.84% | - | 527,818 | $56.47M | $106.98 | |
| 36 | KKR | KKR & CO INC | 0.84% | Add +0.5% | 1,386,400 | $56.14M | $40.49 | |
| 37 | NSC | NORFOLK SOUTHN CORP | 0.81% | - | 229,500 | $54.53M | $237.61 | |
| 38 | CAT | CATERPILLAR INC DEL | 0.78% | - | 287,500 | $52.33M | $182.02 | |
| 39 | NKE | NIKE INC | 0.77% | - | 366,000 | $51.78M | $141.47 | |
| 40 | APO | APOLLO GLOBAL MGMT I | 0.74% | - | 1,012,500 | $49.59M | $48.98 | |
| 41 | WHR | WHIRLPOOL CORP | 0.73% | Add +0.1% | 271,249 | $48.96M | $180.49 | |
| 42 | ROL | ROLLINS INC | 0.72% | -1.5:1 split | 1,243,275 | $48.58M | $39.07 | |
| 43 | SPGI | S&P GLOBAL INC | 0.72% | Add +0.2% | 147,260 | $48.41M | $328.73 | |
| 44 | TROW | PRICE T ROWE GROUP I | 0.71% | - | 314,000 | $47.54M | $151.39 | |
| 45 | CFX | COLFAX CORP | 0.65% | - | 1,135,070 | $43.41M | No quote | No quote |
| 46 | ACN | ACCENTURE PLC IRELAN | 0.62% | - | 159,400 | $41.64M | $261.21 | |
| 47 | SRCL | STERICYCLE INC | 0.61% | - | 593,700 | $41.16M | No quote | No quote |
| 48 | MMM | 3M CO | 0.61% | - | 234,200 | $40.94M | $174.79 | |
| 49 | HEI/A | HEICO CORP NEWCUSIP 422806208 | 0.60% | - | 343,144 | $40.17M | No quote | No quote |
| 50 | META | FACEBOOK INC | 0.59% | Add +0.2% | 145,320 | $39.7M | $273.16 | |
| 51 | NVR | NVR INC | 0.58% | Add +0.3% | 9,521 | $38.84M | $4079.82 | |
| 52 | FDS | FACTSET RESH SYS INC | 0.58% | Add +0.0% | 116,720 | $38.81M | $332.51 | |
| 53 | CG | CARLYLE GROUP INC | 0.57% | - | 1,222,000 | $38.42M | $31.44 | |
| 54 | BF/B | BROWN FORMAN CORPCUSIP 115637209 | 0.56% | - | 474,187 | $37.67M | No quote | No quote |
| 55 | ROK | ROCKWELL AUTOMATION | 0.53% | - | 142,100 | $35.64M | $250.81 | |
| 56 | ITIC | INVESTORS TITLE CO N | 0.49% | - | 213,300 | $32.64M | $153.00 | |
| 57 | LBRDA | LIBERTY BROADBAND CO | 0.48% | - | 205,250 | $32.34M | $157.58 | |
| 58 | MHK | MOHAWK INDS INC | 0.46% | Reduce -25.1% | 221,000 | $31.15M | $140.95 | |
| 59 | JPM | JPMORGAN CHASE & CO | 0.41% | Reduce -0.4% | 216,550 | $27.52M | $127.07 | |
| 60 | CMCSA | COMCAST CORP NEW | 0.41% | - | 522,000 | $27.35M | $52.40 | |
| 61 | LBRDK | LIBERTY BROADBAND CO | 0.41% | - | 172,113 | $27.26M | $158.37 | |
| 62 | ATVI | ACTIVISION BLIZZARD | 0.39% | Add +0.5% | 285,100 | $26.47M | No quote | No quote |
| 63 | LIN | LINDE PLC | 0.37% | - | 94,400 | $24.88M | $263.52 | |
| 64 | SEIC | SEI INVTS CO | 0.36% | Add +11.2% | 426,200 | $24.49M | $57.47 | |
| 65 | TSN | TYSON FOODS INC | 0.36% | Add +1.4% | 374,000 | $24.1M | $64.44 | |
| 66 | SHW | SHERWIN WILLIAMS CO | 0.34% | Add +0.2% | 31,064 | $22.83M | $734.90 | |
| 67 | LSXMK | LIBERTY MEDIA CORP D | 0.34% | - | 522,000 | $22.71M | No quote | No quote |
| 68 | CVS | CVS HEALTH CORP | 0.34% | - | 332,000 | $22.68M | $68.30 | |
| 69 | MCHP | MICROCHIP TECHNOLOGY | 0.34% | - | 163,000 | $22.51M | $138.10 | |
| 70 | MXIM | MAXIM INTEGRATED PRO | 0.33% | - | 252,000 | $22.34M | No quote | No quote |
| 71 | HCSG | HEALTHCARE SVCS GROU | 0.33% | Add +12.0% | 782,500 | $21.99M | $28.10 | |
| 72 | EFX | EQUIFAX INC | 0.33% | - | 114,000 | $21.98M | $192.84 | |
| 73 | GOOGL | ALPHABET INC | 0.33% | - | 12,500 | $21.91M | $1752.64 | |
| 74 | LSXMA | LIBERTY MEDIA CORP D | 0.27% | - | 426,000 | $18.4M | No quote | No quote |
| 75 | EA | ELECTRONIC ARTS INC | 0.27% | Add +0.7% | 126,100 | $18.11M | $143.60 | |
| 76 | UNP | UNION PAC CORP | 0.27% | Add +0.4% | 85,698 | $17.84M | $208.22 | |
| 77 | RTX | RAYTHEON TECHNOLOGIE | 0.24% | - | 224,000 | $16.02M | $71.51 | |
| 78 | TRUP | TRUPANION INC | 0.24% | - | 133,300 | $15.96M | $119.71 | |
| 79 | IFF | INTERNATIONAL FLAVOR | 0.24% | Add +36.5% | 146,000 | $15.89M | $108.84 | |
| 80 | VRSK | VERISK ANALYTICS INC | 0.23% | - | 74,000 | $15.36M | $207.59 | |
| 81 | CSCO | CISCO SYS INC | 0.23% | - | 342,000 | $15.31M | $44.75 | |
| 82 | BK | BANK NEW YORK MELLON | 0.23% | Add +1.9% | 356,750 | $15.14M | $42.44 | |
| 83 | COST | COSTCO WHSL CORP NEW | 0.22% | - | 39,150 | $14.75M | $376.78 | |
| 84 | PEP | PEPSICO INC | 0.21% | Add +0.6% | 96,210 | $14.27M | $148.30 | |
| 85 | PAYX | PAYCHEX INC | 0.21% | - | 150,000 | $13.98M | $93.18 | |
| 86 | CCK | CROWN HLDGS INC | 0.17% | - | 116,000 | $11.62M | $100.20 | |
| 87 | CABO | CABLE ONE INC | 0.17% | - | 5,200 | $11.58M | $2227.69 | |
| 88 | AMT | AMERICAN TOWER CORP | 0.17% | - | 51,150 | $11.48M | $224.46 | |
| 89 | ALB | ALBEMARLE CORP | 0.17% | - | 76,000 | $11.21M | $147.53 | |
| 90 | PM | PHILIP MORRIS INTL I | 0.14% | - | 114,500 | $9.48M | $82.79 | |
| 91 | TRU | TRANSUNION | 0.14% | - | 94,500 | $9.38M | $99.23 | |
| 92 | HXL | HEXCEL CORP NEW | 0.14% | - | 189,000 | $9.17M | $48.49 | |
| 93 | CARR | CARRIER GLOBAL CORPO | 0.13% | - | 224,000 | $8.45M | $37.72 | |
| 94 | AON | AON PLC | 0.12% | New | 37,000 | $7.82M | $211.27 | |
| 95 | OTIS | OTIS WORLDWIDE CORP | 0.11% | Add +0.9% | 113,060 | $7.64M | $67.55 | |
| 96 | WFC | WELLS FARGO CO NEW | 0.09% | - | 195,450 | $5.9M | $30.18 | |
| 97 | OI | O-I GLASS INC | 0.08% | Add +6.8% | 474,000 | $5.64M | No quote | No quote |
| 98 | LBTYA | LIBERTY GLOBAL PLC | 0.06% | - | 179,000 | $4.34M | $24.22 | |
| 99 | BALL | BALL CORP | 0.06% | - | 46,000 | $4.29M | $93.17 | |
| 100 | GHC | GRAHAM HLDGS CO | 0.04% | - | 5,200 | $2.77M | $533.46 | |
| 101 | Y | ALLEGHANY CORP DEL | 0.04% | - | 4,328 | $2.61M | No quote | No quote |
| 102 | SHAK | SHAKE SHACK INC | 0.04% | - | 30,600 | $2.59M | $84.77 | |
| 103 | WRB | BERKLEY W R CORP | 0.03% | - | 27,000 | $1.79M | $66.41 | |
| 104 | GWRE | GUIDEWIRE SOFTWARE I | 0.02% | - | 13,000 | $1.67M | $128.69 | |
| 105 | ILMN | ILLUMINA INC | 0.02% | - | 4,000 | $1.48M | $370.00 | |
| 106 | C | CITIGROUP INC | 0.02% | Reduce -8.8% | 20,620 | $1.27M | $61.64 | |
| 107 | DHI | D R HORTON INC | 0.01% | - | 13,999 | $965K | $68.93 | |
| 108 | LEN/B | LENNAR CORPCUSIP 526057302 | 0.01% | - | 13,000 | $796K | No quote | No quote |
| 109 | LAMR | LAMAR ADVERTISING CO | 0.01% | - | 8,500 | $707K | $83.18 | |
| 110 | EMN | EASTMAN CHEM CO | 0.01% | - | 6,000 | $602K | $100.33 | |
| 111 | MTCH | MATCH GROUP INC NEW | 0.01% | Reduce -0.0% | 3,560 | $538K | $151.12 | |
| 112 | TWTR | TWITTER INC | 0.01% | - | 8,500 | $460K | No quote | No quote |
| 113 | PYPL | PAYPAL HLDGS INC | 0.01% | - | 1,830 | $429K | $234.43 | |
| 114 | IAC | IAC INTERACTIVECORP | 0.01% | New | 1,954 | $370K | $189.36 | |
| 115 | ALL | ALLSTATE CORP | 0.00% | New | 2,000 | $220K | $110.00 | |
| 116 | AON | Aon Corporation | - | Sold | 0 | $0 | No quote | No quote |