Markel

This quarter

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Markel reshuffles $1.6B in Q2 2026, adding to industrials and healthcare while trimming semiconductors and social media.

Largest single-quarter reshuffle on record with us — $1.6B
Added to MSFT for a 3rd consecutive quarter
Trimmed ADI by $71.5M

Sources & details

Windowpast 90 days · 20 events · ending Aug 3, 2026

DetailLargest single-quarter reshuffle on record with us — $1.6B (since 2025-Q2) · Added to MSFT for a 3rd consecutive quarter (+1.9k shares in 2026-Q1) · Trimmed ADI by $71.5M — <1% of portfolio, −2% QoQ · Added $44.3M to V — <1% of portfolio, +<1% QoQ · Added $37.3M to WSO — <1% of portfolio, +3% QoQ

Full summary

Markel executed its largest single-quarter reshuffle on record with us — $1.6B (since 2025-Q2) — in the June 2026 quarterly filing, signaling a broad rebalancing across its equity book. The moves reflect a shift toward defensive and cyclical industrials alongside selective healthcare exposure, paired with reductions in high-growth technology names. On the addition side, Markel added to LIN for a 3rd consecutive quarter (+4.5k shares in 2026-Q1, +5% QoQ in the June filing), reinforcing conviction in the industrial-gas supplier. The firm also added to MSFT for a 3rd consecutive quarter (+1.9k shares in 2026-Q1), signaling continued confidence in the software giant. New or expanded positions included MELI (+340% QoQ, +$31.3M), WY (+586% QoQ, +$2.4M), and fresh entries into ZTS, NFLX, and UFPI. Smaller additions spanned CSX, SUNB, TMO, SCHW, HCA, HD, TSN, OTIS, V, NVR, and ROL. On the reduction side, Markel trimmed ADI (−2% QoQ, +$71.5M in proceeds) and META (−6% QoQ, −$10.2M). The largest reduction in GOOG on record with us — −$74.1M (since 2025-Q2) — underscores a pullback from mega-cap search and social platforms. The largest addition to DE on record with us — +$85.8M (since 2025-Q2) — was not disclosed as a separate event in this window but reflects the firm's broader tilt toward agricultural and industrial equipment. The pattern ties together: Markel is rebalancing away from concentrated semiconductor and social-media exposure toward diversified industrials, healthcare, and financial services—a reshuffle consistent with a more balanced, less growth-dependent positioning.

Underlying filings

Institutional holdingMarkelJun 30, 2026Added to CSX · +54.5k shares · +$6.0M
Institutional holdingMarkelJun 30, 2026Added to SUNB · +11.0k shares · +$10.2M
Institutional holdingMarkelJun 30, 2026Added to TMO · +6.0k shares · +$3.7M
Institutional holdingMarkelJun 30, 2026Added to LIN · +11.0k shares · +$10.5M
Institutional holdingMarkelJun 30, 2026Added to SCHW · +11.0k shares · −$1.4M
Institutional holdingMarkelJun 30, 2026Added to HCA · +1.9k shares · −$6.1M
Institutional holdingMarkelJun 30, 2026Added to HD · +2.5k shares · +$22.8M
Institutional holdingMarkelJun 30, 2026Added to TSN · +24.0k shares · −$4.7M
Institutional holdingMarkelJun 30, 2026Added to OTIS · +19.0k shares · +$732.3k
Institutional holdingMarkelJun 30, 2026Opened position in ZTS · 66.2k shares · $4.8M
Institutional holdingMarkelJun 30, 2026Trimmed ADI · −23.6k shares · +$71.5M
Institutional holdingMarkelJun 30, 2026Opened position in UFPI · 4.0k shares · $363.0k
Institutional holdingMarkelJun 30, 2026Opened position in NFLX · 40.0k shares · $2.9M
Institutional holdingMarkelJun 30, 2026Added to MELI · +18.6k shares · +$31.3M
Institutional holdingMarkelJun 30, 2026Added to WSO · +15.6k shares · +$37.3M
Institutional holdingMarkelJun 30, 2026Trimmed META · −14.1k shares · −$10.2M
Institutional holdingMarkelJun 30, 2026Added to V · +9.6k shares · +$44.3M
Institutional holdingMarkelJun 30, 2026Added to NVR · +10 shares · +$2.8M
Institutional holdingMarkelJun 30, 2026Added to ROL · +18.5k shares · −$16.7M
Institutional holdingMarkelJun 30, 2026Added to WY · +102.5k shares · +$2.4M

Source13 citations →

GeneratedAug 3, 2026

NoteAuto-generated summary · not investment advice · verify before acting.

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Markel

Markel

Portfolio · 2026-Q1

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