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Markel Group Tom Gayner
In Q2 2026, Markel Group held 127 US-listed stocks worth $13bn. It made only small changes. It started 3 new positions and sold out of 2. Its largest holding is Berkshire Hathaway at 12%.
Source: SEC Form 13F for Q2 2026, filed 31 Jul 2026. How we use them
Changes Holdings Over time Look-through 5% stakes Sectors Value What changed in Q2 2026 Against Q1 2026, by number of shares and adjusted for splits. Up to five of each, largest first; the full list is below.
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US holdings from the 13F Q2 2026, filed 31 Jul 2026 (filing ): 3 new, 24 added to, 3 trimmed, 2 sold out. Select a row to see it over time. How this works Changes compare share counts with Q1 2026, adjusted for stock splits. Share classes of the same company are combined. Values are at quarter-end prices.
13F holdings with change from the previous quarter Company Value Shares Portfolio Change Q1 2026 Berkshire Hathaway BRK.B $1.6bn 1,533,085 12.2%$1.6bn 12.8% Alphabet GOOG $1.2bn 3,321,860 9.0%$1.2bn 8.0% Deere & Co DE $557m 877,900 4.2%$557m 4.1% Brookfield BN $557m 13,073,609 4.2%$557m 4.4% Amazon.com AMZN $484m 2,030,760 3.7%$484m 3.5% Analog Devices ADI $397m 999,671 3.0%$397m ▼ Trimmed -2.3%2.7% Goldman Sachs Group GS $363m 359,360 2.8%$363m 2.5% Apple AAPL $355m 1,227,290 2.7%$355m 2.6% Caterpillar CAT $350m 328,650 2.7%$350m 1.9% Visa V $348m 1,013,912 2.6%$348m ▲ Added +1.0%2.5% Home Depot HD $325m 922,500 2.5%$325m ▲ Added +0.3%2.5% Watsco WSO $249m 597,750 1.9%$249m ▲ Added +2.7%1.8% Texas Instruments TXN $216m 724,000 1.6%$216m 1.2% Blackrock BLK $212m 220,200 1.6%$212m 1.8% Microsoft MSFT $201m 537,630 1.5%$201m 1.7% Walt Disney DIS $196m 2,031,665 1.5%$196m 1.6% American Express AXP $166m 490,450 1.3%$166m 1.2% Lowe’s LOW $166m 751,980 1.3%$166m ▲ Added +1.8%1.5% Progressive PGR $165m 753,750 1.3%$165m 1.3% Franco Nevada FNV $161m 773,500 1.2%$161m ▲ Added +9.2%1.5% LPL Financial Holdings LPLA $158m 559,951 1.2%$158m 1.4% Johnson & Johnson JNJ $155m 610,800 1.2%$155m 1.3% Blackstone BX $145m 1,229,000 1.1%$145m 1.2% RLI RLI $141m 2,394,544 1.1%$141m 1.1% General Dynamics GD $139m 391,000 1.1%$139m 1.1% Novo-Nordisk NVO $138m 2,869,774 1.1%$138m 0.9% KKR & Co. KKR $133m 1,451,800 1.0%$133m 1.1% Meta Platforms META $132m 234,163 1.0%$132m ▼ Trimmed -5.7%1.2% Charles Schwab SCHW $129m 1,394,800 1.0%$129m ▲ Added +0.8%1.1% Marsh & Mclennan Companies MRSH $127m 763,500 1.0%$127m 1.1% Apollo Global Management APO $120m 1,012,500 0.9%$120m 0.9% Archer-Daniels-Midland ADM $115m 1,505,800 0.9%$115m 0.9% Linde LIN $112m 215,600 0.8%$112m ▲ Added +5.4%0.8% Diageo DEO $110m 1,372,208 0.8%$110m 0.9% Mastercard MA $107m 207,540 0.8%$107m 0.9% Dollar General DG $100m 869,250 0.8%$100m 0.9% Brookfield Asset Management BAM $98.4m 2,193,953 0.8%$98.4m 0.8% HEICO Ord HEI.A $97.9m 379,644 0.8%$97.9m 0.7% Moody's MCO $96.9m 213,890 0.7%$96.9m 0.8% Old Dominion Freight Line ODFL $93.0m 429,150 0.7%$93.0m 0.7% Norfolk Southern NSC $88.9m 282,500 0.7%$88.9m 0.7% Illinois Tool Works ITW $88.6m 327,500 0.7%$88.6m 0.7% JPMorgan Chase JPM $82.7m 252,550 0.6%$82.7m 0.6% NVR NVR $82.4m 12,097 0.6%$82.4m ▲ Added +0.1%0.7% MSCI MSCI $80.0m 142,850 0.6%$80.0m 0.6% Rockwell Automation ROK $76.7m 154,900 0.6%$76.7m 0.5% Ecolab ECL $76.4m 274,300 0.6%$76.4m 0.6% Sunbelt Rentals Holdings SUNB $72.9m 974,361 0.6%$72.9m ▲ Added +1.1%0.5% Starbucks SBUX $63.7m 623,818 0.5%$63.7m 0.5% Rollins ROL $63.3m 1,516,525 0.5%$63.3m ▲ Added +1.2%0.7% Hanover Insurance Group THG $60.2m 281,000 0.5%$60.2m 0.4% Investors Title ITIC $58.4m 213,300 0.4%$58.4m 0.4% Carlyle Group CG $55.9m 1,327,000 0.4%$55.9m 0.5% Tyson Foods TSN $52.3m 913,500 0.4%$52.3m ▲ Added +2.7%0.5% S&P Global SPGI $47.9m 117,690 0.4%$47.9m 0.4% Aon AON $45.0m 135,800 0.3%$45.0m 0.4% Union Pacific UNP $43.8m 161,028 0.3%$43.8m ▲ Added +7.2%0.3% Ferguson Enterprises FERG $42.8m 180,200 0.3%$42.8m ▲ Added +5.6%0.3% RTX RTX $42.5m 224,000 0.3%$42.5m 0.4% Cisco Systems CSCO $41.8m 355,500 0.3%$41.8m 0.2% MercadoLibre MELI $40.7m 24,000 0.3%$40.7m ▲ Added +340%0.1% Yum! Brands YUM $39.2m 245,213 0.3%$39.2m 0.3% Marriott International MAR $36.9m 99,500 0.3%$36.9m ▲ Added +6.1%0.3% Allstate ALL $36.8m 154,550 0.3%$36.8m 0.3% Thermo Fisher Scientific TMO $36.6m 73,100 0.3%$36.6m ▲ Added +8.9%0.3% Costco Wholesale COST $36.6m 39,150 0.3%$36.6m 0.3% Hagerty HGTY $35.9m 3,108,000 0.3%$35.9m 0.3% Brown Forman BF.B $35.7m 1,317,187 0.3%$35.7m 0.3% T Rowe Price Group TROW $35.7m 314,000 0.3%$35.7m 0.2% United Rentals URI $35.3m 31,150 0.3%$35.3m 0.2% Airbnb ABNB $34.7m 242,389 0.3%$34.7m 0.3% Lockheed Martin LMT $33.2m 65,213 0.3%$33.2m 0.3% HCA Healthcare HCA $32.9m 84,366 0.3%$32.9m ▲ Added +2.3%0.3% Sherwin Williams SHW $32.4m 94,172 0.3%$32.4m 0.3% FactSet Research Systems FDS $31.1m 135,376 0.2%$31.1m 0.3% Lamar Advertising LAMR $30.1m 193,000 0.2%$30.1m 0.2% Verisk Analytics VRSK $28.0m 155,950 0.2%$28.0m 0.3% CSX CSX $27.8m 584,500 0.2%$27.8m ▲ Added +10%0.2% Applied Materials AMAT $26.3m 36,350 0.2%$26.3m 0.1% Air Products & Chemicals APD $25.9m 88,500 0.2%$25.9m ▲ Added +17%0.2% Comfort Systems USA FIX $25.8m 13,000 0.2%$25.8m 0.1% Crown Holdings CCK $24.6m 220,000 0.2%$24.6m 0.2% Renaissancere Holdings RNR $22.2m 70,000 0.2%$22.2m 0.2% Enterprise Products Partners EPD $20.9m 569,000 0.2%$20.9m ▲ Added +182%0.1% Philip Morris International PM $20.7m 114,500 0.2%$20.7m 0.2% Accenture ACN $19.8m 159,400 0.1%$19.8m 0.3% Comcast CMCSA $19.7m 802,074 0.1%$19.7m ▼ Trimmed -17%0.2% Hexcel HXL $18.9m 189,000 0.1%$18.9m 0.1% Nike NKE $18.4m 447,400 0.1%$18.4m 0.2% Capital One Financial COF $18.3m 91,000 0.1%$18.3m 0.1% BNY BK $18.0m 124,500 0.1%$18.0m 0.1% Carrier Global CARR $17.2m 235,000 0.1%$17.2m 0.1% Wells Fargo & Company WFC $16.9m 204,450 0.1%$16.9m 0.1% Sei Investments SEIC $15.2m 173,200 0.1%$15.2m 0.1% Paychex PAYX $14.7m 150,000 0.1%$14.7m 0.1% Hershey HSY $13.2m 75,000 0.1%$13.2m 0.1% Pepsico PEP $13.0m 96,210 0.1%$13.0m 0.1% Spotify Technology SPOT $11.9m 25,900 0.1%$11.9m 0.1% Shopify SHOP $11.7m 102,750 0.1%$11.7m 0.1% Equifax EFX $11.6m 72,850 0.1%$11.6m 0.1% CME Group CME $11.0m 49,750 0.1%$11.0m 0.1% Cboe Global Markets CBOE $10.6m 43,700 0.1%$10.6m 0.1% Uber Technologies UBER $10.3m 142,500 0.1%$10.3m 0.1% Otis Worldwide OTIS $9.6m 133,620 0.1%$9.6m ▲ Added +17%0.1% IQVIA Holdings IQV $9.1m 46,900 0.1%$9.1m 0.1% Huntington Ingalls Industries HII $7.7m 27,500 0.1%$7.7m 0.1% Exxon Mobil EXMOC $7.7m 56,100 0.1%$7.7m ▲ Added +19%0.1% Insperity NSP $7.5m 181,336 0.1%$7.5m 0.0% Carmax KMX $7.2m 136,500 0.1%$7.2m 0.1% Sony Group SONY $6.7m 335,000 0.1%$6.7m 0.1% Canadian National Railway CNI $6.4m 53,500 0.1%$6.4m 0.1% Canadian Pacific Kansas City CP $6.3m 73,000 0.1%$6.3m ▲ Added +23%0.0% Graham Holdings GHC $5.9m 5,200 0.1%$5.9m 0.1% Eastman Chemical EMN $5.0m 74,950 0.0%$5.0m 0.1% Zoetis ZTS $4.8m 66,195 0.0%$4.8m ▲ New– Brunswick BC $4.3m 51,250 0.0%$4.3m 0.0% Wr Berkley WRB $4.3m 60,750 0.0%$4.3m 0.0% MGM Resorts International MGM $4.2m 87,500 0.0%$4.2m 0.0% Acuity Brands AYI $3.7m 9,750 0.0%$3.7m 0.0% Intercontinental Exchange ICE $3.6m 28,870 0.0%$3.6m 0.0% Eagle Materials EXP $3.3m 14,750 0.0%$3.3m 0.0% Weyerhaeuser WY $2.9m 120,000 0.0%$2.9m ▲ Added +586%0.0% Netflix NFLX $2.9m 40,000 0.0%$2.9m ▲ New– Sysco SYY $2.5m 30,500 0.0%$2.5m 0.0% Dominos Pizza DPZ $1.6m 5,500 0.0%$1.6m 0.0% Brown & Brown BRO $898k 14,000 0.0%$898k 0.0% UFP Industries UFPI $363k 4,000 0.0%$363k ▲ New– Scotts Miracle-Gro SMG – – – ▼ Sold out0.1% UnitedHealth Group UNH – – – ▼ Sold out0.0%
Show all 129 Download the Q2 2026 holdings: CSV · JSON · Markdown
How the portfolio has changed Each bar is one 13F. Select a bar or press play to see that quarter’s 12 largest positions. How this works Bars are split by share of the US portfolio: the six biggest holdings over the period in colour, everything else in grey. The last eight quarters are shown in full, earlier years at year end.
2013 · Berkshire Hathaway: 11.9% 2013 · Brookfield: 4.0% 2013 · Home Depot: 2.4% 2013 · Everything else: 81.7% 2014 · Berkshire Hathaway: 11.3% 2014 · Brookfield: 4.0% 2014 · Home Depot: 2.3% 2014 · Everything else: 82.3% 2015 · Berkshire Hathaway: 11.2% 2015 · Brookfield: 4.3% 2015 · Home Depot: 3.3% 2015 · Deere & Co: 2.3% 2015 · Everything else: 79.0% 2016 · Berkshire Hathaway: 12.3% 2016 · Brookfield: 4.1% 2016 · Home Depot: 3.0% 2016 · Deere & Co: 2.7% 2016 · Everything else: 77.9% 2017 · Berkshire Hathaway: 11.8% 2017 · Brookfield: 4.5% 2017 · Alphabet: 2.2% 2017 · Home Depot: 3.3% 2017 · Deere & Co: 3.2% 2017 · Everything else: 75.1% 2018 · Berkshire Hathaway: 12.3% 2018 · Brookfield: 4.2% 2018 · Alphabet: 2.5% 2018 · Home Depot: 3.0% 2018 · Deere & Co: 3.1% 2018 · Amazon.com: 2.6% 2018 · Everything else: 72.3% 2019 · Berkshire Hathaway: 10.0% 2019 · Brookfield: 4.7% 2019 · Alphabet: 2.8% 2019 · Home Depot: 2.8% 2019 · Deere & Co: 2.4% 2019 · Amazon.com: 2.5% 2019 · Everything else: 74.9% 2020 · Berkshire Hathaway: 11.1% 2020 · Brookfield: 5.3% 2020 · Alphabet: 3.9% 2020 · Home Depot: 3.6% 2020 · Deere & Co: 3.0% 2020 · Amazon.com: 4.8% 2020 · Everything else: 68.2% 2021 · Berkshire Hathaway: 11.0% 2021 · Brookfield: 6.0% 2021 · Alphabet: 5.0% 2021 · Home Depot: 4.4% 2021 · Deere & Co: 3.0% 2021 · Amazon.com: 3.8% 2021 · Everything else: 66.9% 2022 · Berkshire Hathaway: 13.3% 2022 · Brookfield: 3.7% 2022 · Alphabet: 3.7% 2022 · Home Depot: 3.9% 2022 · Deere & Co: 4.3% 2022 · Amazon.com: 2.3% 2022 · Everything else: 68.8% 2023 · Berkshire Hathaway: 12.5% 2023 · Brookfield: 3.8% 2023 · Alphabet: 5.1% 2023 · Home Depot: 3.5% 2023 · Deere & Co: 3.5% 2023 · Amazon.com: 3.4% 2023 · Everything else: 68.3% Q3 ’24 · Berkshire Hathaway: 13.3% Q3 ’24 · Brookfield: 4.2% Q3 ’24 · Alphabet: 5.0% Q3 ’24 · Home Depot: 3.4% Q3 ’24 · Deere & Co: 3.3% Q3 ’24 · Amazon.com: 3.4% Q3 ’24 · Everything else: 67.5% Q4 ’24 · Berkshire Hathaway: 12.8% Q4 ’24 · Brookfield: 4.4% Q4 ’24 · Alphabet: 5.5% Q4 ’24 · Home Depot: 3.1% Q4 ’24 · Deere & Co: 3.3% Q4 ’24 · Amazon.com: 3.9% Q4 ’24 · Everything else: 66.9% Q1 ’25 · Berkshire Hathaway: 15.1% Q1 ’25 · Brookfield: 4.1% Q1 ’25 · Alphabet: 4.6% Q1 ’25 · Home Depot: 3.0% Q1 ’25 · Deere & Co: 3.7% Q1 ’25 · Amazon.com: 3.4% Q1 ’25 · Everything else: 66.1% Q2 ’25 · Berkshire Hathaway: 13.2% Q2 ’25 · Brookfield: 4.6% Q2 ’25 · Alphabet: 5.0% Q2 ’25 · Home Depot: 2.9% Q2 ’25 · Deere & Co: 3.8% Q2 ’25 · Amazon.com: 3.8% Q2 ’25 · Everything else: 66.9% Q3 ’25 · Berkshire Hathaway: 13.1% Q3 ’25 · Brookfield: 4.8% Q3 ’25 · Alphabet: 6.6% Q3 ’25 · Home Depot: 3.0% Q3 ’25 · Deere & Co: 3.3% Q3 ’25 · Amazon.com: 3.6% Q3 ’25 · Everything else: 65.6% Q4 ’25 · Berkshire Hathaway: 12.8% Q4 ’25 · Brookfield: 4.8% Q4 ’25 · Alphabet: 8.3% Q4 ’25 · Home Depot: 2.5% Q4 ’25 · Deere & Co: 3.3% Q4 ’25 · Amazon.com: 3.7% Q4 ’25 · Everything else: 64.5% Q1 ’26 · Berkshire Hathaway: 12.8% Q1 ’26 · Brookfield: 4.4% Q1 ’26 · Alphabet: 8.0% Q1 ’26 · Home Depot: 2.5% Q1 ’26 · Deere & Co: 4.1% Q1 ’26 · Amazon.com: 3.5% Q1 ’26 · Everything else: 64.5% Q2 ’26 · Berkshire Hathaway: 12.2% Q2 ’26 · Brookfield: 4.2% Q2 ’26 · Alphabet: 9.0% Q2 ’26 · Home Depot: 2.5% Q2 ’26 · Deere & Co: 4.2% Q2 ’26 · Amazon.com: 3.7% Q2 ’26 · Everything else: 64.2% 2013
2015
2017
2019
2021
2023
Q4 ’24
Q2 ’25
Q4 ’25
Q2 ’26
2013: Berkshire Hathaway 11.9%, Brookfield 4.0%, Alphabet 0.0%, Home Depot 2.4%, Deere & Co 0.0%, Amazon.com 0.0%; 2014: Berkshire Hathaway 11.3%, Brookfield 4.0%, Alphabet 0.0%, Home Depot 2.3%, Deere & Co 0.0%, Amazon.com 0.0%; 2015: Berkshire Hathaway 11.2%, Brookfield 4.3%, Alphabet 0.0%, Home Depot 3.3%, Deere & Co 2.3%, Amazon.com 0.0%; 2016: Berkshire Hathaway 12.3%, Brookfield 4.1%, Alphabet 0.0%, Home Depot 3.0%, Deere & Co 2.7%, Amazon.com 0.0%; 2017: Berkshire Hathaway 11.8%, Brookfield 4.5%, Alphabet 2.2%, Home Depot 3.3%, Deere & Co 3.2%, Amazon.com 0.0%; 2018: Berkshire Hathaway 12.3%, Brookfield 4.2%, Alphabet 2.5%, Home Depot 3.0%, Deere & Co 3.1%, Amazon.com 2.6%; 2019: Berkshire Hathaway 10.0%, Brookfield 4.7%, Alphabet 2.8%, Home Depot 2.8%, Deere & Co 2.4%, Amazon.com 2.5%; 2020: Berkshire Hathaway 11.1%, Brookfield 5.3%, Alphabet 3.9%, Home Depot 3.6%, Deere & Co 3.0%, Amazon.com 4.8%; 2021: Berkshire Hathaway 11.0%, Brookfield 6.0%, Alphabet 5.0%, Home Depot 4.4%, Deere & Co 3.0%, Amazon.com 3.8%; 2022: Berkshire Hathaway 13.3%, Brookfield 3.7%, Alphabet 3.7%, Home Depot 3.9%, Deere & Co 4.3%, Amazon.com 2.3%; 2023: Berkshire Hathaway 12.5%, Brookfield 3.8%, Alphabet 5.1%, Home Depot 3.5%, Deere & Co 3.5%, Amazon.com 3.4%; Q3 ’24: Berkshire Hathaway 13.3%, Brookfield 4.2%, Alphabet 5.0%, Home Depot 3.4%, Deere & Co 3.3%, Amazon.com 3.4%; Q4 ’24: Berkshire Hathaway 12.8%, Brookfield 4.4%, Alphabet 5.5%, Home Depot 3.1%, Deere & Co 3.3%, Amazon.com 3.9%; Q1 ’25: Berkshire Hathaway 15.1%, Brookfield 4.1%, Alphabet 4.6%, Home Depot 3.0%, Deere & Co 3.7%, Amazon.com 3.4%; Q2 ’25: Berkshire Hathaway 13.2%, Brookfield 4.6%, Alphabet 5.0%, Home Depot 2.9%, Deere & Co 3.8%, Amazon.com 3.8%; Q3 ’25: Berkshire Hathaway 13.1%, Brookfield 4.8%, Alphabet 6.6%, Home Depot 3.0%, Deere & Co 3.3%, Amazon.com 3.6%; Q4 ’25: Berkshire Hathaway 12.8%, Brookfield 4.8%, Alphabet 8.3%, Home Depot 2.5%, Deere & Co 3.3%, Amazon.com 3.7%; Q1 ’26: Berkshire Hathaway 12.8%, Brookfield 4.4%, Alphabet 8.0%, Home Depot 2.5%, Deere & Co 4.1%, Amazon.com 3.5%; Q2 ’26: Berkshire Hathaway 12.2%, Brookfield 4.2%, Alphabet 9.0%, Home Depot 2.5%, Deere & Co 4.2%, Amazon.com 3.7% ▶ Play Q2 2026
Berkshire Hathaway 12.2% Alphabet 9.0% Deere & Co 4.2% Brookfield 4.2% Amazon.com 3.7% Analog Devices 3.0% Goldman Sachs Group 2.8% Apple 2.7% Caterpillar 2.7% Visa 2.6% Home Depot 2.5% Watsco 1.9% Q4 2013 Q2 2026
Look-through earnings Markel Group’s share of the profits of the US companies it holds. How this works Look-through earnings, Q2 2026
$435m
Last 12 months, holdings with SEC financials
Price paid for those earnings
22.4×
Value of those holdings ÷ their earnings
Earnings per share growth
+21.3%
Same holdings, against a year earlier
Portfolio covered
74%
Of the 13F value
By year Rolling 12 months
Q1 2017: $28.6m Q2 2017: $32.7m Q3 2017: $31.9m Q4 2017: $29.8m Q1 2018: $37.5m Q2 2018: $46.6m Q3 2018: $47.2m Q4 2018: $34.8m Q1 2019: $53.0m Q2 2019: $48.0m Q3 2019: $51.9m Q4 2019: $49.8m Q1 2020: $30.0m Q2 2020: $26.9m Q3 2020: $41.7m Q4 2020: $49.7m Q1 2021: $62.1m Q2 2021: $65.4m Q3 2021: $54.1m Q4 2021: $53.3m Q1 2022: $59.0m Q2 2022: $45.9m Q3 2022: $60.5m Q4 2022: $44.2m Q1 2023: $61.2m Q2 2023: $56.9m Q3 2023: $65.0m Q4 2023: $69.7m Q1 2024: $76.1m Q2 2024: $78.4m Q3 2024: $78.1m Q4 2024: $79.1m Q1 2025: $90.0m Q2 2025: $97.0m Q3 2025: $91.4m Q4 2025: $88.9m Q1 2026: $104m Q2 2026: $148m $123m 2017
$166m 2018
$203m 2019
$148m 2020
$235m 2021
$210m 2022
$253m 2023
$312m 2024
$367m 2025
$252m 2026*
2017: $123m; 2018: $166m; 2019: $203m; 2020: $148m; 2021: $235m; 2022: $210m; 2023: $253m; 2024: $312m; 2025: $367m; 2026 (2 quarters): $252m
Holdings behind Q2 2026 (latest) Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022 Q2 2022 Q1 2022 Q4 2021 Q3 2021
Show all 30 Net income is as reported (GAAP), so it includes one-off items and, for some companies, gains or losses on investments they hold. Companies that report under IFRS (most non-US companies) or whose shares we can’t match reliably are left out; “portfolio covered” shows how much is included. Look-through earnings explained . Growth compares earnings per share over the last 12 months with the 12 months a year earlier, for holdings profitable in both.
5% stake filings Holdings of 5% or more of a company (13D and 13G), usually reported well before the next 13F. How this works Markel Group’s filings since December 2024, newest first. An amendment showing less than 5% means the holding fell below the threshold. A 13D means the holder may seek to influence the company.
How to read a 13D .
US holdings by sector Financials 19.3% Insurance 17.5% Industrials 16.6% Consumer discretionary 12.6% Technology 10.7% Communication and media 10.2% Real estate 4.2% Materials 3.0% Consumer staples 2.8% Health care 2.6% Other 0.2% Utilities 0.2% Not classified 0.1% Sectors are grouped from each company’s SEC industry code, as a share of the Q2 2026 13F.
US portfolio value by quarter $8.3bn Q3 ’23
$9.2bn Q4 ’23
$10bn Q1 ’24
$10bn Q2 ’24
$11bn Q3 ’24
$11bn Q4 ’24
$11bn Q1 ’25
$12bn Q2 ’25
$12bn Q3 ’25
$13bn Q4 ’25
$12bn Q1 ’26
$13bn Q2 ’26
Q3 ’23: $8.3bn; Q4 ’23: $9.2bn; Q1 ’24: $10bn; Q2 ’24: $10bn; Q3 ’24: $11bn; Q4 ’24: $11bn; Q1 ’25: $11bn; Q2 ’25: $12bn; Q3 ’25: $12bn; Q4 ’25: $13bn; Q1 ’26: $12bn; Q2 ’26: $13bn From each quarter’s 13F. Changes reflect both trading and share-price moves.