운용사 기록 · ✦ 큐레이션

Markel Group

Insurance holding company · Glen Allen, VA · CIK 1096343 · EDGAR 공시 ↗

Buffett-style equity book inside an insurer.

Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 변동 ⇄

$13.13B보고된 13F 가치

205포지션

42.9%상위 10개 비중

37.10유효 보유 종목

1.3%추정 회전율

+3신규

−2청산

보고된 13F 포트폴리오 가치는 미국 보고 의무 대상 롱 포지션만을 포함하며 — 현금, 채권, 숏 또는 비미국 자산은 제외됩니다. 운용자산(AUM)이 아닙니다.

분기별 보고 가치 Q2 2024 → Q2 2026

섹터 익스포저

금융 서비스 40.6% (-1.8pp)

산업재 17.1% (+0.9pp)

커뮤니케이션 서비스 11.8% (+0.6pp)

경기소비재 10.2% (+0.1pp)

기술 10.1% (+0.8pp)

필수소비재 3.7% (-0.3pp)

기초소재 3.2% (-0.3pp)

헬스케어 2.9% (+0.0pp)

부동산 0.3% (+0.1pp)

에너지 0.2% (+0.1pp)

보고된 보통주 가치 대비 비중; (±pp) 전 분기 대비.

포트폴리오 · Q2 2026

#	증권	비중	가치	주식 수	Δ 주식 수		보유
1	GOOG Alphabet Inc.	7.4%	$971.61M	2.75M	0.0%	Held	9+
2	BRK-A Berkshire Hathaway Inc.	6.4%	$834.22M	1.11K	0.0%	Held	9+
3	BRK-B Berkshire Hathaway Inc.	5.8%	$766.58M	1.53M	0.0%	Held	9+
4	DE Deere & Company	4.2%	$556.88M	877.90K	0.0%	Held	9+
5	BN Brookfield Corporation	4.2%	$556.81M	13.07M	0.0%	Held	9+
6	AMZN Amazon.com, Inc.	3.7%	$484.01M	2.03M	0.0%	Held	9+
7	ADI Analog Devices, Inc.	3.0%	$397.04M	999.67K	-2.3%	▼ Trim	9+
8	GS The Goldman Sachs Group…	2.8%	$363.45M	359.36K	0.0%	Held	9+
9	AAPL Apple Inc.	2.7%	$355.13M	1.23M	0.0%	Held	9+
10	CAT Caterpillar Inc.	2.7%	$349.98M	328.65K	0.0%	Held	9+
11	V Visa Inc.	2.6%	$347.86M	1.01M	+0.9%	▲ Add	9+
12	HD The Home Depot, Inc.	2.5%	$325.35M	922.50K	+0.3%	▲ Add	9+
13	WSO Watsco, Inc.	1.9%	$249.10M	597.75K	+2.7%	▲ Add	9+
14	TXN Texas Instruments…	1.6%	$215.80M	724.00K	0.0%	Held	9+
15	BLK BlackRock, Inc.	1.6%	$211.74M	220.20K	0.0%	Held	9+
16	GOOGL Alphabet Inc.	1.6%	$204.42M	572.00K	0.0%	Held	9+
17	MSFT Microsoft Corporation	1.5%	$200.55M	537.63K	0.0%	Held	9+
18	DIS The Walt Disney Company	1.5%	$195.55M	2.03M	0.0%	Held	9+
19	AXP American Express Company	1.3%	$165.89M	490.45K	0.0%	Held	9+
20	LOW Lowe's Companies, Inc.	1.3%	$165.80M	751.98K	+1.8%	▲ Add	9+
21	PGR The Progressive Corporation	1.3%	$164.66M	753.75K	0.0%	Held	9+
22	FNV Franco-Nevada Corporation	1.2%	$161.23M	773.50K	+9.2%	▲ Add	9+
23	LPLA LPL Financial Holdings Inc.	1.2%	$157.73M	559.95K	0.0%	Held	9+
24	JNJ Johnson & Johnson	1.2%	$155.12M	610.80K	0.0%	Held	9+
25	BX Blackstone Inc.	1.1%	$144.62M	1.23M	0.0%	Held	9+
26	RLI RLI Corp.	1.1%	$141.45M	2.39M	0.0%	Held	9+
27	GD General Dynamics Corporation	1.1%	$138.51M	391.00K	0.0%	Held	9+
28	NVO Novo Nordisk A/S	1.0%	$137.58M	2.87M	0.0%	Held	9+
29	KKR KKR & Co. Inc.	1.0%	$133.25M	1.45M	0.0%	Held	9+
30	META Meta Platforms, Inc.	1.0%	$131.90M	234.16K	-5.7%	▼ Trim	9+
31	SCHW The Charles Schwab…	1.0%	$128.70M	1.39M	+0.8%	▲ Add	9+
32	MRSH Marsh & McLennan Companies…	1.0%	$127.25M	763.50K	0.0%	Held	9+
33	APO Apollo Global Management…	0.9%	$119.79M	1.01M	0.0%	Held	9+
34	ADM Archer-Daniels-Midland…	0.9%	$115.04M	1.51M	0.0%	Held	9+
35	LIN Linde plc	0.9%	$111.88M	215.60K	+5.4%	▲ Add	9+
36	DEO Diageo plc	0.8%	$110.30M	1.37M	0.0%	Held	9+
37	MA Mastercard Incorporated	0.8%	$106.59M	207.54K	0.0%	Held	9+
38	DG Dollar General Corporation	0.8%	$100.06M	869.25K	0.0%	Held	9+
39	BAM Brookfield Asset Management…	0.7%	$98.40M	2.19M	0.0%	Held	9+
40	HEI-A HEICO Corporation	0.7%	$97.91M	379.64K	0.0%	Held	9+
41	MCO Moody's Corporation	0.7%	$96.88M	213.89K	0.0%	Held	9+
42	ODFL Old Dominion Freight Line…	0.7%	$92.95M	429.15K	0.0%	Held	9+
43	NSC Norfolk Southern Corporation	0.7%	$88.87M	282.50K	0.0%	Held	9+
44	ITW Illinois Tool Works Inc.	0.7%	$88.58M	327.50K	0.0%	Held	9+
45	JPM JPMorgan Chase & Co.	0.6%	$82.67M	252.55K	0.0%	Held	9+
46	NVR NVR, Inc.	0.6%	$82.42M	12.10K	+0.1%	▲ Add	9+
47	MSCI MSCI Inc.	0.6%	$80.00M	142.85K	0.0%	Held	9+
48	ROK Rockwell Automation, Inc.	0.6%	$76.69M	154.90K	0.0%	Held	9+
49	ECL Ecolab Inc.	0.6%	$76.42M	274.30K	0.0%	Held	9+
50	SUNB Sunbelt Rentals Holdings Inc	0.6%	$72.89M	974.36K	+1.1%	▲ Add	2
51	SBUX Starbucks Corporation	0.5%	$63.75M	623.82K	0.0%	Held	9+
52	ROL Rollins, Inc.	0.5%	$63.30M	1.52M	+1.2%	▲ Add	9+
53	THG The Hanover Insurance…	0.5%	$60.17M	281.00K	0.0%	Held	9+
54	ITIC INVESTORS TITLE CO NC	0.4%	$58.38M	213.30K	0.0%	Held	9+
55	CG The Carlyle Group Inc.	0.4%	$55.88M	1.33M	0.0%	Held	9+
56	TSN Tyson Foods, Inc.	0.4%	$52.30M	913.50K	+2.7%	▲ Add	9+
57	SPGI S&P Global Inc.	0.4%	$47.93M	117.69K	0.0%	Held	9+
58	AON Aon plc	0.3%	$45.04M	135.80K	0.0%	Held	9+
59	UNP Union Pacific Corporation	0.3%	$43.80M	161.03K	+7.2%	▲ Add	9+
60	FERG Ferguson plc	0.3%	$42.77M	180.20K	+5.6%	▲ Add	8
61	RTX RTX Corporation	0.3%	$42.50M	224.00K	0.0%	Held	9+
62	CSCO Cisco Systems, Inc.	0.3%	$41.76M	355.50K	0.0%	Held	9+
63	MELI MercadoLibre, Inc.	0.3%	$40.74M	24.00K	+340.4%	▲ Add	2
64	YUM Yum! Brands, Inc.	0.3%	$39.20M	245.21K	0.0%	Held	9+
65	MAR Marriott International, Inc.	0.3%	$36.87M	99.50K	+6.1%	▲ Add	9+
66	ALL The Allstate Corporation	0.3%	$36.77M	154.55K	0.0%	Held	9+
67	TMO Thermo Fisher Scientific…	0.3%	$36.65M	73.10K	+8.9%	▲ Add	9+
68	COST Costco Wholesale Corporation	0.3%	$36.62M	39.15K	0.0%	Held	9+
69	HGTY Hagerty, Inc.	0.3%	$35.90M	3.11M	0.0%	Held	9+
70	TROW T. Rowe Price Group, Inc.	0.3%	$35.70M	314.00K	0.0%	Held	9+
71	URI United Rentals, Inc.	0.3%	$35.29M	31.15K	0.0%	Held	9+
72	ABNB Airbnb, Inc.	0.3%	$34.69M	242.39K	0.0%	Held	8
73	LMT Lockheed Martin Corporation	0.3%	$33.22M	65.21K	0.0%	Held	9+
74	HCA HCA Healthcare, Inc.	0.3%	$32.89M	84.37K	+2.4%	▲ Add	9+
75	SHW The Sherwin-Williams Company	0.2%	$32.43M	94.17K	0.0%	Held	9+
76	FDS FactSet Research Systems…	0.2%	$31.15M	135.38K	0.0%	Held	9+
77	LAMR Lamar Advertising Company	0.2%	$30.10M	193.00K	0.0%	Held	9+
78	VRSK Verisk Analytics, Inc.	0.2%	$28.00M	155.95K	0.0%	Held	9+
79	CSX CSX Corporation	0.2%	$27.78M	584.50K	+10.3%	▲ Add	5
80	AMAT Applied Materials, Inc.	0.2%	$26.28M	36.35K	0.0%	Held	5
81	APD Air Products and Chemicals…	0.2%	$25.95M	88.50K	+17.2%	▲ Add	9+
82	FIX Comfort Systems USA, Inc.	0.2%	$25.77M	13.00K	0.0%	Held	9+
83	CCK Crown Holdings, Inc.	0.2%	$24.60M	220.00K	0.0%	Held	9+
84	BF-A BROWN FORMAN CORP	0.2%	$23.06M	843.00K	0.0%	Held	9+
85	RNR RenaissanceRe Holdings Ltd.	0.2%	$22.18M	70.00K	0.0%	Held	9+
86	EPD Enterprise Products…	0.2%	$20.92M	569.00K	+181.7%	▲ Add	2
87	PM Philip Morris International…	0.2%	$20.71M	114.50K	0.0%	Held	9+
88	ACN Accenture plc	0.2%	$19.84M	159.40K	0.0%	Held	9+
89	CMCSA Comcast Corporation	0.1%	$19.69M	802.07K	-16.6%	▼ Trim	9+
90	HXL Hexcel Corporation	0.1%	$18.91M	189.00K	0.0%	Held	9+
91	NKE NIKE, Inc.	0.1%	$18.37M	447.40K	0.0%	Held	9+
92	COF Capital One Financial…	0.1%	$18.26M	91.00K	0.0%	Held	9+
93	BNY Bank of New York Mellon Corp	0.1%	$18.00M	124.50K	0.0%	Held	9+
94	CARR Carrier Global Corporation	0.1%	$17.24M	235.00K	0.0%	Held	9+
95	WFC Wells Fargo & Company	0.1%	$16.90M	204.45K	0.0%	Held	9+
96	SEIC SEI Investments Company	0.1%	$15.19M	173.20K	0.0%	Held	9+
97	PAYX Paychex, Inc.	0.1%	$14.75M	150.00K	0.0%	Held	9+
98	HSY The Hershey Company	0.1%	$13.16M	75.00K	0.0%	Held	9+
99	PEP PepsiCo, Inc.	0.1%	$13.03M	96.21K	0.0%	Held	9+
100	BF-B Brown-Forman Corporation	0.1%	$12.64M	474.19K	0.0%	Held	9+
101	SPOT Spotify Technology S.A.	0.1%	$11.89M	25.90K	0.0%	Held	9+
102	SHOP Shopify Inc.	0.1%	$11.73M	102.75K	0.0%	Held	9+
103	EFX Equifax Inc.	0.1%	$11.56M	72.85K	0.0%	Held	9+
104	CME CME Group Inc.	0.1%	$10.99M	49.75K	0.0%	Held	7
105	CBOE Cboe Global Markets, Inc.	0.1%	$10.60M	43.70K	0.0%	Held	6
106	UBER Uber Technologies, Inc.	0.1%	$10.28M	142.50K	0.0%	Held	9+
107	OTIS Otis Worldwide Corporation	0.1%	$9.57M	133.62K	+16.6%	▲ Add	9+
108	IQV IQVIA Holdings Inc.	0.1%	$9.06M	46.90K	0.0%	Held	9+
109	HII Huntington Ingalls…	0.1%	$7.70M	27.50K	0.0%	Held	7
110	XONA.DE Exxon Mobil Corporation	0.1%	$7.67M	56.10K	+19.4%	▲ Add	4
111	NSP Insperity, Inc.	0.1%	$7.49M	181.34K	0.0%	Held	9+
112	KMX CarMax, Inc.	0.1%	$7.22M	136.50K	0.0%	Held	9+
113	SONY Sony Group Corporation	0.1%	$6.72M	335.00K	0.0%	Held	9+
114	CNI Canadian National Railway…	0.0%	$6.38M	53.50K	0.0%	Held	4
115	CP Canadian Pacific Kansas…	0.0%	$6.33M	73.00K	+22.7%	▲ Add	4
116	GHC Graham Holdings Company	0.0%	$5.94M	5.20K	0.0%	Held	9+
117	EMN Eastman Chemical Company	0.0%	$5.02M	74.95K	0.0%	Held	9+
118	ZTS Zoetis Inc.	0.0%	$4.76M	66.19K	신규	New	1
119	BC Brunswick Corporation	0.0%	$4.32M	51.25K	0.0%	Held	8
120	WRB W. R. Berkley Corporation	0.0%	$4.28M	60.75K	0.0%	Held	9+
121	MGM MGM Resorts International	0.0%	$4.18M	87.50K	0.0%	Held	7
122	AYI Acuity Brands, Inc.	0.0%	$3.67M	9.75K	0.0%	Held	7
123	ICE Intercontinental Exchange…	0.0%	$3.55M	28.87K	0.0%	Held	9+
124	EXP Eagle Materials Inc.	0.0%	$3.32M	14.75K	0.0%	Held	6
125	WY Weyerhaeuser Company	0.0%	$2.87M	120.00K	+585.7%	▲ Add	2
126	NFLX Netflix, Inc.	0.0%	$2.86M	40.00K	신규	New	1
127	SYY Sysco Corporation	0.0%	$2.55M	30.50K	0.0%	Held	6
128	DPZ Domino's Pizza, Inc.	0.0%	$1.63M	5.50K	0.0%	Held	8
129	BRO Brown & Brown, Inc.	0.0%	$898,100	14.00K	0.0%	Held	3
130	UFPI UFP Industries, Inc.	0.0%	$362,960	4.00K	신규	New	1

보통주(SH) 포지션만 해당; 옵션 라인은 옵션 탭에 표시되며 순액 처리되지 않습니다. ✂ = 분할 조정 이전 주식 수 대비 산출된 변동. "Held N+" = 조회 기간 내 매 분기 보유, 실제 보유 기간은 더 길 수 있음.

증권	주식 수	이전	변동	가치	비중
ZTS Zoetis Inc.	66.19K	—	신규	$4.76M	0.0%
NFLX Netflix, Inc.	40.00K	—	신규	$2.86M	0.0%
UFPI UFP Industries, Inc.	4.00K	—	신규	$362,960	0.0%

증권	주식 수	이전	변동	가치	비중	연속 기록
V Visa Inc.	1.01M	1.00M	+0.9%	$347.86M	2.6%	●●○○○○
HD The Home Depot, Inc.	922.50K	920.00K	+0.3%	$325.35M	2.5%
WSO Watsco, Inc.	597.75K	582.17K	+2.7%	$249.10M	1.9%	●●●○○○
FNV Franco-Nevada…	773.50K	708.50K	+9.2%	$161.23M	1.2%	●●●●●●
LOW Lowe's Companies, Inc.	751.98K	738.48K	+1.8%	$165.80M	1.3%	●●●●●●
SCHW The Charles Schwab…	1.39M	1.38M	+0.8%	$128.70M	1.0%	●●●○○○
LIN Linde plc	215.60K	204.60K	+5.4%	$111.88M	0.9%	●●●●●●
NVR NVR, Inc.	12.10K	12.09K	+0.1%	$82.42M	0.6%	●●●○○○
ROL Rollins, Inc.	1.52M	1.50M	+1.2%	$63.30M	0.5%	●●●●●○
SUNB Sunbelt Rentals…	974.36K	963.36K	+1.1%	$72.89M	0.6%	●●○○○○
TSN Tyson Foods, Inc.	913.50K	889.50K	+2.7%	$52.30M	0.4%	●●●●●○
UNP Union Pacific…	161.03K	150.28K	+7.2%	$43.80M	0.3%	●●●●●○
FERG Ferguson plc	180.20K	170.70K	+5.6%	$42.77M	0.3%	●●●●●●
MELI MercadoLibre, Inc.	24.00K	5.45K	+340.4%	$40.74M	0.3%	●●○○○○
HCA HCA Healthcare, Inc.	84.37K	82.43K	+2.4%	$32.89M	0.3%	●●●●●●
MAR Marriott International…	99.50K	93.75K	+6.1%	$36.87M	0.3%	●●●●●●
TMO Thermo Fisher…	73.10K	67.10K	+8.9%	$36.65M	0.3%	●●●●●●
CSX CSX Corporation	584.50K	530.00K	+10.3%	$27.78M	0.2%	●●●●●○
APD Air Products and…	88.50K	75.50K	+17.2%	$25.95M	0.2%	●●●○○○
EPD Enterprise Products…	569.00K	202.00K	+181.7%	$20.92M	0.2%	●●○○○○
OTIS Otis Worldwide…	133.62K	114.62K	+16.6%	$9.57M	0.1%
XONA.DE Exxon Mobil Corporation	56.10K	47.00K	+19.4%	$7.67M	0.1%	●●●●○○
CP Canadian Pacific Kansas…	73.00K	59.50K	+22.7%	$6.33M	0.0%	●●●●○○
WY Weyerhaeuser Company	120.00K	17.50K	+585.7%	$2.87M	0.0%	●●○○○○

증권	주식 수	이전	변동	가치	비중
ADI Analog Devices, Inc.	999.67K	1.02M	-2.3%	$397.04M	3.0%
META Meta Platforms, Inc.	234.16K	248.30K	-5.7%	$131.90M	1.0%
CMCSA Comcast Corporation	802.07K	961.88K	-16.6%	$19.69M	0.1%

증권	주식 수	이전	변동	가치	비중	연속 기록
SMG The Scotts Miracle-Gro…	—	168.00K	퇴출	$10.22M	0.1%
UNH UnitedHealth Group…	—	18.70K	퇴출	$5.06M	0.0%

포지션 보유 기간

30–1 분기

82–4 분기

135–8 분기

1069+ 분기

현재 각 포지션이 데이터 조회 기간 내에서 보고된 연속 분기 수.

유사 운용사

운용사	공통 보유 종목	종목 중복	가중 유사도
First Manhattan Co. Llc.	88	11.3%	0.5431	비교 ⇄
Fayez Sarofim & Co	77	21.9%	0.4651	비교 ⇄
Blair William & Co/Il	121	6.2%	0.4471	비교 ⇄
Baird Financial Group, Inc.	115	6.0%	0.443	비교 ⇄
Neuberger Berman Group LLC	129	5.7%	0.4397	비교 ⇄
Chevy Chase Trust Holdings, LLC	102	15.1%	0.4098	비교 ⇄
Brown Advisory Inc	118	8.2%	0.4098	비교 ⇄
Aberdeen Group plc	102	10.7%	0.4012	비교 ⇄

보고된 롱 포지션만의 유사도 — 헤지 및 비13F 자산은 표시되지 않습니다. 방법론

공시 기록

Jul 31 2026 13F-HR · 기간 Q2 2026

$13.13B · 205 등록된 보유 종목 · 원본 SEC 제출 서류 보기 ↗

May 01 2026 13F-HR · 기간 Q1 2026

$11.94B · 205 등록된 보유 종목 · 원본 SEC 제출 서류 보기 ↗

Feb 06 2026 13F-HR · 기간 Q4 2025

$12.54B · 205 등록된 보유 종목 · 원본 SEC 제출 서류 보기 ↗

Oct 31 2025 13F-HR · 기간 Q3 2025

$12.32B · 208 등록된 보유 종목 · 원본 SEC 제출 서류 보기 ↗

Aug 01 2025 13F-HR · 기간 Q2 2025

$11.83B · 218 등록된 보유 종목 · 원본 SEC 제출 서류 보기 ↗

May 02 2025 13F-HR · 기간 Q1 2025

$11.26B · 217 등록된 보유 종목 · 원본 SEC 제출 서류 보기 ↗

Feb 07 2025 13F-HR · 기간 Q4 2024

$11.34B · 214 등록된 보유 종목 · 원본 SEC 제출 서류 보기 ↗

Nov 01 2024 13F-HR · 기간 Q3 2024

$11.11B · 216 등록된 보유 종목 · 원본 SEC 제출 서류 보기 ↗

Aug 02 2024 13F-HR · 기간 Q2 2024

$10.17B · 222 등록된 보유 종목 · 원본 SEC 제출 서류 보기 ↗

출처: SEC EDGAR의 해당 운용사 13F 정보 테이블에서 파싱된 모든 보유 종목; 보고된 값 기준, 미국 달러 전액. 변동은 분할 조정 주식 수 기준으로 각 분기의 최종 접수 버전(수정본 반영)을 비교합니다. 보고 기간: Q2 2026 · 최근 공시 Jul 31, 2026 · 변동 산출 방법론

☆ Markel Group

Markel Group