Markel

This quarter

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Markel adds across 16 holdings in Q2 2026; trims ADI and META; opens ZTS, UFPI, NFLX

Added to ROL for a 4th consecutive quarter
Added to LIN for a 4th consecutive quarter
Trimmed ADI by $71.5M

Sources & details

Windowpast 90 days · 20 events · ending Sep 11, 2026

DetailAdded to ROL for a 4th consecutive quarter (+18.5k shares in 2026-Q2) · Added to LIN for a 4th consecutive quarter (+11.0k shares in 2026-Q2) · 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 disclosed a broad-based rebalancing in its Q2 2026 quarterly filing, adding to 16 positions while trimming only two. The filing reveals a pattern of incremental accumulation across industrials, financials, and consumer names, with particular emphasis on repeat additions to existing stakes. Notable moves include a +340% QoQ surge in MELI (adding 18.6k shares for $31.3M), a +586% QoQ expansion in WY (adding 102.5k shares for $2.4M), and continued quarterly additions to ROL and LIN — both extended for a 4th consecutive quarter. Markel also opened fresh positions in ZTS (66.2k shares, $4.8M), NFLX (40.0k shares, $2.9M), and UFPI (4.0k shares, $363.0k). On the exit side, the firm trimmed ADI by 23.6k shares (−2% QoQ) and META by 14.1k shares (−6% QoQ). The largest dollar moves were additions to V ($44.3M), WSO ($37.3M), and HD ($22.8M), alongside the MELI surge. Notably, ROL saw the largest reduction on record with Markel — a −$16.7M move — despite the share-count addition, suggesting a price-driven decline in that holding. The window shows a disciplined rebalancing favoring financial services, industrials, and select consumer plays, with no single position dominating the activity.

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

Source9 citations →

GeneratedSep 11, 2026

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

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ALPHABET INC CAP STK CL C	2,749,860	$971.6M	7.4%
BERKSHIRE HATHAWAY INC DEL CL A	1,114	$834.2M	6.4%
BERKSHIRE HATHAWAY INC DEL CL B NEW	1,531,971	$766.6M	5.8%
DEERE & CO COM	877,900	$556.9M	4.2%
BROOKFIELD CORP CL A LTD VT SH	13,073,609	$556.8M	4.2%
AMAZON COM INC COM	2,030,760	$484.0M	3.7%
ANALOG DEVICES INC COM	999,671Shares decreased 2%	$397.0M	3.0%
GOLDMAN SACHS GROUP INC COM	359,360	$363.4M	2.8%
APPLE INC COM	1,227,290	$355.1M	2.7%
CATERPILLAR INC COM	328,650	$350.0M	2.7%
VISA INC COM CL A	1,013,912Shares increased 1%	$347.9M	2.6%
HOME DEPOT INC COM	922,500Shares increased <1%	$325.3M	2.5%
WATSCO INC COM	597,750Shares increased 3%	$249.1M	1.9%
TEXAS INSTRS INC COM	724,000	$215.8M	1.6%
BLACKROCK INC COM	220,200	$211.7M	1.6%
ALPHABET INC CAP STK CL A	572,000	$204.4M	1.6%
MICROSOFT CORP COM	537,630	$200.5M	1.5%
DISNEY WALT CO COM	2,031,665	$195.5M	1.5%
AMERICAN EXPRESS CO COM	490,450	$165.9M	1.3%
LOWES COS INC COM	751,980Shares increased 2%	$165.8M	1.3%
PROGRESSIVE CORP COM	753,750	$164.7M	1.3%
FRANCO NEV CORP COM	773,500Shares increased 9%	$161.2M	1.2%
LPL FINL HLDGS INC COM	559,951	$157.7M	1.2%
JOHNSON & JOHNSON COM	610,800	$155.1M	1.2%
BLACKSTONE INC COM	1,229,000	$144.6M	1.1%
RLI CORP COM	2,394,544	$141.4M	1.1%
GENERAL DYNAMICS CORP COM	391,000	$138.5M	1.1%
NOVO-NORDISK A S ADR	2,869,774	$137.6M	1.0%
KKR & CO INC COM	1,451,800	$133.2M	1.0%
META PLATFORMS INC CL A	234,163Shares decreased 6%	$131.9M	1.0%
SCHWAB CHARLES CORP COM	1,394,800Shares increased 1%	$128.7M	1.0%
MARSH & MCLENNAN COS INC COM	763,500	$127.3M	1.0%
APOLLO GLOBAL MGMT INC COM	1,012,500	$119.8M	0.9%
ARCHER DANIELS MIDLAND CO COM	1,505,800	$115.0M	0.9%
LINDE PLC SHS	215,600Shares increased 5%	$111.9M	0.9%
DIAGEO PLC SPON ADR NEW	1,372,208	$110.3M	0.8%
MASTERCARD INCORPORATED CL A	207,540	$106.6M	0.8%
DOLLAR GEN CORP COM	869,250	$100.1M	0.8%
BROOKFIELD ASSET MANAGMT LTD CL A LMT VTG SHS	2,193,953	$98.4M	0.7%
HEICO CORP NEW CL A	379,644	$97.9M	0.7%
MOODYS CORP COM	213,890	$96.9M	0.7%
OLD DOMINION FREIGHT LINE IN COM	429,150	$93.0M	0.7%
NORFOLK SOUTHN CORP COM	282,500	$88.9M	0.7%
ILLINOIS TOOL WKS INC COM	327,500	$88.6M	0.7%
JPMORGAN CHASE & CO COM	252,550	$82.7M	0.6%
NVR INC COM	12,097Shares increased <1%	$82.4M	0.6%
MSCI INC COM	142,850	$80.0M	0.6%
ROCKWELL AUTOMATION INC COM	154,900	$76.7M	0.6%
ECOLAB INC COM	274,300	$76.4M	0.6%
SUNBELT RENTALS HOLDINGS INC SHS	974,361Shares increased 1%	$72.9M	0.6%
STARBUCKS CORP COM	623,818	$63.7M	0.5%
ROLLINS INC COM	1,516,525Shares increased 1%	$63.3M	0.5%
HANOVER INS GROUP INC COM	281,000	$60.2M	0.5%
INVESTORS TITLE CO NC COM	213,300	$58.4M	0.4%
CARLYLE GROUP INC COM	1,327,000	$55.9M	0.4%
TYSON FOODS INC CL A	913,500Shares increased 3%	$52.3M	0.4%
S&P GLOBAL INC COM	117,690	$47.9M	0.4%
AON PLC SHS CL A	135,800	$45.0M	0.3%
UNION PAC CORP COM	161,028Shares increased 7%	$43.8M	0.3%
FERGUSON ENTERPRISES INC COMMON STOCK NEW	180,200Shares increased 6%	$42.8M	0.3%
RTX CORPORATION COM	224,000	$42.5M	0.3%
CISCO SYS INC COM	355,500	$41.8M	0.3%
MERCADOLIBRE INC COM	24,000Shares increased 340%	$40.7M	0.3%
YUM BRANDS INC COM	245,213	$39.2M	0.3%
MARRIOTT INTL INC NEW CL A	99,500Shares increased 6%	$36.9M	0.3%
ALLSTATE CORP COM	154,550	$36.8M	0.3%
THERMO FISHER SCIENTIFIC INC COM	73,100Shares increased 9%	$36.6M	0.3%
COSTCO WHOLESALE CORPORATION COM	39,150	$36.6M	0.3%
HAGERTY INC CL A COM	3,108,000	$35.9M	0.3%
PRICE T ROWE GROUP INC COM	314,000	$35.7M	0.3%
UNITED RENTALS INC COM	31,150	$35.3M	0.3%
AIRBNB INC COM CL A	242,389	$34.7M	0.3%
LOCKHEED MARTIN CORP COM	65,213	$33.2M	0.3%
HCA HEALTHCARE INC COM	84,366Shares increased 2%	$32.9M	0.3%
SHERWIN WILLIAMS CO COM	94,172	$32.4M	0.2%
FACTSET RESH SYS INC COM	135,376	$31.1M	0.2%
LAMAR ADVERTISING CO CL A	193,000	$30.1M	0.2%
VERISK ANALYTICS INC COM	155,950	$28.0M	0.2%
CSX CORP COM	584,500Shares increased 10%	$27.8M	0.2%
APPLIED MATLS INC COM	36,350	$26.3M	0.2%
AIR PRODUCTS AND CHEMICALS I COM	88,500Shares increased 17%	$25.9M	0.2%
COMFORT SYS USA INC COM	13,000	$25.8M	0.2%
CROWN HLDGS INC COM	220,000	$24.6M	0.2%
BROWN FORMAN CORP CL A	843,000	$23.1M	0.2%
G7496G103RENAISSANCERE HLDGS LTD COM	70,000	$22.2M	0.2%
ENTERPRISE PRODS PARTNERS L COM	569,000Shares increased 182%	$20.9M	0.2%
PHILIP MORRIS INTL INC COM	114,500	$20.7M	0.2%
G1151C101ACCENTURE PLC IRELAND SHS CLASS A	159,400	$19.8M	0.2%
COMCAST CORP NEW CL A	802,074Shares decreased 17%	$19.7M	0.1%
HEXCEL CORP NEW COM	189,000	$18.9M	0.1%
NIKE INC CL B	447,400	$18.4M	0.1%
CAPITAL ONE FINL CORP COM	91,000	$18.3M	0.1%
BANK NEW YORK MELLON CORP COM	124,500	$18.0M	0.1%
CARRIER GLOBAL CORPORATION COM	235,000	$17.2M	0.1%
WELLS FARGO & CO COM	204,450	$16.9M	0.1%
SEI INVTS CO COM	173,200	$15.2M	0.1%
PAYCHEX INC COM	150,000	$14.7M	0.1%
HERSHEY CO COM	75,000	$13.2M	0.1%
PEPSICO INC COM	96,210	$13.0M	0.1%
BROWN FORMAN CORP CL B	474,187	$12.6M	0.1%

Markel

Markel

Portfolio · 2026-Q2

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