Markel Group Inc.
MX ˙ BMV ˙ US5705351048
SecurityMX:MKL / Markel Group Inc.
InstitutionGAM Holding AG
Latest Disclosed Ownership5,587 shares
Latest Disclosed Value $ 12,010,095
GAM Holding AG reports 4.05% decrease in ownership of MKL / Markel Group Inc.

On February 17, 2026 - GAM Holding AG filed a 13F-HR form disclosing ownership of 5,587 shares of Markel Group Inc. (MX:MKL) valued at $12,010,095 USD as of December 31, 2025. The entity filed a previous 13F-HR on October 21, 2025 disclosing 5,823 shares of Markel Group Inc.. This represents a change in shares of -4.05% during the quarter.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

Upgrade to unlock premium data and export to Excel .

Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-02-17 2025-12-31 13F MARKEL GROUP COM 570535104 5,587 -236 -4.05 12,010 7.92 0.5823
2025-10-21 2025-09-30 13F MARKEL GROUP COM 570535104 5,823 -208 -3.45 11,130 -7.61 0.6879
2025-08-04 2025-06-30 13F MARKEL GROUP COM 570535104 6,031 -506 -7.74 12,046 -1.43 0.8469
2025-04-22 2025-03-31 13F MARKEL GROUP COM 570535104 6,537 -1,128 -14.72 12,222 -7.63 0.9479
2025-01-31 2024-12-31 13F MARKEL GROUP COM 570535104 7,665 -384 -4.77 13,232 4.80 0.9867
2024-10-22 2024-09-30 13F MARKEL GROUP COM 570535104 8,049 23 0.29 12,626 -0.17 1.0067
2024-07-26 2024-06-30 13F MARKEL GROUP COM 570535104 8,026 -1 -0.01 12,647 3.55 0.9703
2024-05-13 2024-03-31 13F MARKEL GROUP COM 570535104 8,027 25 0.31 12,213 7.49 0.8836
2024-01-23 2023-12-31 13F MARKEL GROUP COM 570535104 8,002 -9 -0.11 11,363 -3.68 0.8451
2023-10-16 2023-09-30 13F MARKEL GROUP COM 570535104 8,011 -15 -0.19 11,797 6.26 0.8710
2023-07-27 2023-06-30 13F MARKEL GROUP COM 570535104 8,026 -10 -0.12 11,102 8.14 0.7664
2023-05-09 2023-03-31 13F MARKEL COM 570535104 8,036 -495 -5.80 10,266 -8.67 0.7122
2023-02-02 2022-12-31 13F MARKEL COM 570535104 8,531 -65 -0.76 11,240 20.59 0.9022
2022-10-19 2022-09-30 13F MARKEL COM 570535104 8,596 -26 -0.30 9,320 -16.42 0.7128
2022-07-21 2022-06-30 13F MARKEL COM 570535104 8,622 -7 -0.08 11,151 -12.40 0.7416
2022-05-06 2022-03-31 13F MARKEL COM 570535104 8,629 905 11.72 12,730 33.55 0.5465
2022-02-18 2021-12-31 13F/A-1 MARKEL COM 570535104 7,724 -9 -0.12 9,532 3.14 0.4249
2022-01-26 2021-12-31 13F MARKEL COM 570535104 7,724 -9 9,532 0.4267
2021-11-12 2021-09-30 13F MARKEL COM 570535104 7,733 -31 -0.40 9,242 0.30 0.4300
2021-08-09 2021-06-30 13F MARKEL COM 570535104 7,764 -37 -0.47 9,214 3.64 0.3992
2021-05-10 2021-03-31 13F MARKEL COM 570535104 7,801 7,801 8,890 0.4135
2017-11-14 2017-09-30 13F MARKEL COM 570535104 0 -1,506 -100.00 0 -100.00
2017-08-07 2017-06-30 13F MARKEL COM 570535104 1,506 0 0.00 1,470 0.00 0.0217
2017-05-12 2017-03-31 13F MARKEL COM 570535104 1,506 0 0.00 1,470 7.93 0.0232
2017-02-10 2016-12-31 13F MARKEL COM 570535104 1,506 406 36.91 1,362 33.01 0.0239
2016-11-07 2016-09-30 13F MARKEL COM 570535104 1,100 -420 -27.63 1,024 -29.28 0.0180
2016-08-11 2016-06-30 13F MARKEL COM 570535104 1,520 1,201 376.49 1,448 409.86 0.0225
2016-05-13 2016-03-31 13F MARKEL COM 570535104 319 18 5.98 284 6.77 0.0047
2016-02-08 2015-12-31 13F MARKEL COM 570535104 301 -4,957 -94.28 266 -91.28 0.0041
2014-02-12 2013-12-31 13F MARKEL COM 570535104 5,258 1,148 27.93 3,051 43.37 0.0532
2013-11-12 2013-09-30 13F MARKEL COM 570535104 4,110 2,420 143.20 2,128 138.83 0.0398
2013-08-13 2013-06-30 13F Markel Corp Common NPV COM 570535104 1,690 1,690 891 0.0195
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.