Markel Group (Thomas S. Gayner) latest 13F portfolio: 130 holdings worth $13.1B as of Q2 2026.
Backtested since 2020: mirroring Markel Group's reported 13F equity holdings each quarter would have returned +160.0% versus +198.2%for the S&P 500 (+16.1% annualized). See the Performance tab for the full equity curve.
Investor: Thomas S. Gayner
Number of Assets: 130
Reporting Period: Q2 - 2026
Holdings at Report: $13,130,490,727
Return $ Since Report: +$9,899,985
Return % Since Report: +0.08%
Company | Position | Activity | Shares | Port. % | Rep. Price | Curr. Price | Rep. Value | Curr. Value | Return Value | Return % |
|---|---|---|---|---|---|---|---|---|---|---|
| The Bank Of New York Mellon Corp. (BK) | Equity | 0% | 124,500 | 0.14% | $144.61 | $15.01 | $18,003,945 | $1,868,745 | -$16,135,200 | -89.62% |
| Accenture PLC (ACN) | Equity | 0% | 159,400 | 0.15% | $124.44 | $183.72 | $19,835,735 | $29,284,968 | +$9,449,233 | +47.64% |
| Acuity Inc. (AYI) | Equity | 0% | 9,750 | 0.03% | $376.66 | $310.77 | $3,672,435 | $3,030,008 | -$642,428 | -17.49% |
| Alphabet Inc. (GOOG) | Equity | 0% | 2,749,860 | 7.40% | $353.33 | $347.41 | $971,608,033 | $955,328,863 | -$16,279,170 | -1.68% |
| Archer-Daniels-Midland Company (ADM) | Equity | 0% | 1,505,800 | 0.88% | $76.40 | $82.34 | $115,043,119 | $123,987,572 | +$8,944,453 | +7.77% |
| Canadian Pacific Kansas City Limited (CP) | Equity | +22.69% | 73,000 | 0.05% | $86.65 | $87.99 | $6,325,450 | $6,423,270 | +$97,820 | +1.55% |
| Crown Holdings Inc. (CCK) | Equity | 0% | 220,000 | 0.19% | $111.82 | $109.64 | $24,600,400 | $24,120,800 | -$479,600 | -1.95% |
| Csx Corp. (CSX) | Equity | +10.28% | 584,500 | 0.21% | $47.53 | $46.59 | $27,781,285 | $27,231,855 | -$549,430 | -1.98% |
| Equifax Inc. (EFX) | Equity | 0% | 72,850 | 0.09% | $158.72 | $159.78 | $11,562,752 | $11,639,973 | +$77,221 | +0.67% |
| Hagerty Inc. (HGTY) | Equity | 0% | 3,108,000 | 0.27% | $11.55 | $13.55 | $35,897,400 | $42,113,400 | +$6,216,000 | +17.32% |
| Hexcel Corp. (HXL) | Equity | 0% | 189,000 | 0.14% | $100.06 | $85.98 | $18,911,340 | $16,250,220 | -$2,661,120 | -14.07% |
| The Home Depot Inc. (HD) | Equity | +0.27% | 922,500 | 2.48% | $352.68 | $305.35 | $325,347,299 | $281,685,375 | -$43,661,924 | -13.42% |
| Huntington Ingalls Industries Inc. (HII) | Equity | 0% | 27,500 | 0.06% | $279.89 | $270.95 | $7,696,975 | $7,451,125 | -$245,850 | -3.19% |
| Johnson & Johnson (JNJ) | Equity | 0% | 610,800 | 1.18% | $253.97 | $269.19 | $155,124,875 | $164,421,252 | +$9,296,377 | +5.99% |
| JP Morgan Chase & Co. (JPM) | Equity | 0% | 252,550 | 0.63% | $327.33 | $340.00 | $82,667,192 | $85,867,000 | +$3,199,808 | +3.87% |
| Meta Platforms Inc. (META) | Equity | -5.69% | 234,163 | 1.00% | $563.29 | $736.60 | $131,901,676 | $172,483,295 | +$40,581,619 | +30.77% |
| MGM Resorts International (MGM) | Equity | 0% | 87,500 | 0.03% | $47.81 | $38.90 | $4,183,375 | $3,403,750 | -$779,625 | -18.64% |
| Shopify Inc. (SHOP) | Equity | 0% | 102,750 | 0.09% | $114.18 | $147.74 | $11,731,995 | $15,180,285 | +$3,448,290 | +29.39% |
| Texas Instruments Inc. (TXN) | Equity | 0% | 724,000 | 1.64% | $298.07 | $271.41 | $215,802,680 | $196,500,840 | -$19,301,840 | -8.94% |
| Thermo Fisher Scientific Inc. (TMO) | Equity | +8.94% | 73,100 | 0.28% | $501.36 | $658.52 | $36,649,416 | $48,137,812 | +$11,488,396 | +31.35% |
| Yum! Brands Inc. (YUM) | Equity | 0% | 245,213 | 0.30% | $159.86 | $139.71 | $39,199,750 | $34,258,708 | -$4,941,042 | -12.60% |
| Air Products And Chemicals Inc. (APD) | Equity | +17.22% | 88,500 | 0.20% | $293.18 | $287.86 | $25,946,430 | $25,475,610 | -$470,820 | -1.81% |
| W. R. Berkley Corp. (WRB) | Equity | 0% | 60,750 | 0.03% | $70.53 | $68.17 | $4,284,699 | $4,141,328 | -$143,371 | -3.35% |
| Capital One Financial Corp. (COF) | Equity | 0% | 91,000 | 0.14% | $200.62 | $200.55 | $18,256,420 | $18,250,050 | -$6,370 | -0.03% |
| The Carlyle Group Inc. (CG) | Equity | 0% | 1,327,000 | 0.43% | $42.11 | $40.23 | $55,879,970 | $53,385,210 | -$2,494,760 | -4.46% |
| Carmax Inc. (KMX) | Equity | 0% | 136,500 | 0.05% | $52.89 | $56.84 | $7,219,485 | $7,758,660 | +$539,175 | +7.47% |
| Carrier Global Corp. (CARR) | Equity | 0% | 235,000 | 0.13% | $73.35 | $55.26 | $17,237,250 | $12,986,100 | -$4,251,150 | -24.66% |
| Caterpillar Inc. (CAT) | Equity | 0% | 328,650 | 2.67% | $1,064.90 | $808.01 | $349,979,385 | $265,552,487 | -$84,426,899 | -24.12% |
| CBOE Global Markets Inc. (CBOE) | Equity | 0% | 43,700 | 0.08% | $242.67 | $266.83 | $10,604,680 | $11,660,471 | +$1,055,791 | +9.96% |
| Deere & Company (DE) | Equity | 0% | 877,900 | 4.24% | $634.33 | $703.12 | $556,878,306 | $617,269,048 | +$60,390,742 | +10.84% |
| Exxon Mobil Corp. (XOM) | Equity | +19.36% | 56,100 | 0.06% | $136.72 | $158.71 | $7,669,992 | $8,903,631 | +$1,233,639 | +16.08% |
| The Hanover Insurance Group Inc. (THG) | Equity | 0% | 281,000 | 0.46% | $214.12 | $218.41 | $60,167,720 | $61,373,210 | +$1,205,490 | +2.00% |
| The Hershey Company (HSY) | Equity | 0% | 75,000 | 0.10% | $175.45 | $168.46 | $13,158,750 | $12,634,500 | -$524,250 | -3.98% |
| Airbnb Inc. (ABNB) | Equity | 0% | 242,389 | 0.26% | $143.10 | $161.81 | $34,685,867 | $39,220,964 | +$4,535,097 | +13.07% |
| Berkshire Hathaway Inc. (BRK-A) | Equity | 0% | 1,114 | 6.35% | $748,850.00 | $755,649.00 | $834,218,900 | $841,792,986 | +$7,574,086 | +0.91% |
| Blackrock Inc. (BLK) | Equity | 0% | 220,200 | 1.61% | $961.56 | $1,066.66 | $211,735,512 | $234,878,532 | +$23,143,020 | +10.93% |
| Blackstone Inc. (BX) | Equity | 0% | 1,229,000 | 1.10% | $117.67 | $124.01 | $144,616,429 | $152,408,290 | +$7,791,861 | +5.39% |
| Brookfield Asset Management Ltd. (BAM) | Equity | 0% | 2,193,953 | 0.75% | $44.85 | $46.01 | $98,398,791 | $100,943,778 | +$2,544,987 | +2.59% |
| Brookfield Corp. (BN) | Equity | 0% | 13,073,609 | 4.24% | $42.59 | $37.85 | $556,805,009 | $494,836,101 | -$61,968,908 | -11.13% |
| Brown & Brown Inc. (BRO) | Equity | 0% | 14,000 | 0.01% | $64.15 | $62.44 | $898,100 | $874,160 | -$23,940 | -2.67% |
| Cisco Systems Inc. (CSCO) | Equity | 0% | 355,500 | 0.32% | $117.46 | $106.44 | $41,757,030 | $37,839,420 | -$3,917,610 | -9.38% |
| CME Group Inc. (CME) | Equity | 0% | 49,750 | 0.08% | $220.83 | $267.21 | $10,986,293 | $13,293,698 | +$2,307,405 | +21.00% |
| Diageo PLC (DEO) | Equity | 0% | 1,372,208 | 0.84% | $80.38 | $87.37 | $110,298,080 | $119,889,813 | +$9,591,733 | +8.70% |
| The Walt Disney Company (DIS) | Equity | 0% | 2,031,665 | 1.49% | $96.25 | $103.82 | $195,547,757 | $210,927,460 | +$15,379,703 | +7.86% |
| Dollar General Corp. (DG) | Equity | 0% | 869,250 | 0.76% | $115.11 | $122.63 | $100,059,367 | $106,596,128 | +$6,536,761 | +6.53% |
| Domino's Pizza Inc. (DPZ) | Equity | 0% | 5,500 | 0.01% | $296.04 | $297.12 | $1,628,220 | $1,634,133 | +$5,913 | +0.36% |
| Factset Research Systems Inc. (FDS) | Equity | 0% | 135,376 | 0.24% | $230.08 | $276.42 | $31,147,311 | $37,420,634 | +$6,273,323 | +20.14% |
| Ferguson Enterprises Inc. (FERG) | Equity | +5.57% | 180,200 | 0.33% | $237.33 | $221.17 | $42,766,866 | $39,854,834 | -$2,912,032 | -6.81% |
| Intercontinental Exchange Inc. (ICE) | Equity | 0% | 28,870 | 0.03% | $123.11 | $152.93 | $3,554,186 | $4,415,089 | +$860,903 | +24.22% |
| Linde PLC (LIN) | Equity | +5.38% | 215,600 | 0.85% | $518.94 | $464.91 | $111,883,464 | $100,234,596 | -$11,648,868 | -10.41% |
| Lockheed Martin Corp. (LMT) | Equity | 0% | 65,213 | 0.25% | $509.46 | $522.34 | $33,223,415 | $34,063,358 | +$839,943 | +2.53% |
| The Allstate Corp. (ALL) | Equity | 0% | 154,550 | 0.28% | $237.94 | $229.50 | $36,773,627 | $35,469,225 | -$1,304,402 | -3.55% |
| Berkshire Hathaway Inc. (BRK-B) | Equity | 0% | 1,531,971 | 5.84% | $500.39 | $503.49 | $766,582,969 | $771,332,079 | +$4,749,110 | +0.62% |
| Brown-Forman Corp. (BF-A) | Equity | 0% | 843,000 | 0.18% | $27.36 | $26.94 | $23,064,480 | $22,710,420 | -$354,060 | -1.54% |
| Brunswick Corp. (BC) | Equity | 0% | 51,250 | 0.03% | $84.24 | $66.59 | $4,317,300 | $3,412,738 | -$904,563 | -20.95% |
| Comcast Corp. (CMCSA) | Equity | -16.61% | 802,074 | 0.15% | $24.55 | $22.42 | $19,690,917 | $17,982,499 | -$1,708,418 | -8.68% |
| Comfort Systems Usa Inc. (FIX) | Equity | 0% | 13,000 | 0.20% | $1,981.95 | $1,625.13 | $25,765,350 | $21,126,690 | -$4,638,660 | -18.00% |
| Eagle Materials Inc. (EXP) | Equity | 0% | 14,750 | 0.03% | $225.00 | $183.16 | $3,318,750 | $2,701,610 | -$617,140 | -18.60% |
| Franco-Nevada Corp. (FNV) | Equity | +9.17% | 773,500 | 1.23% | $208.44 | $267.20 | $161,228,340 | $206,679,200 | +$45,450,860 | +28.19% |
| HCA Healthcare Inc. (HCA) | Equity | +2.35% | 84,366 | 0.25% | $389.89 | $438.12 | $32,893,460 | $36,962,432 | +$4,068,972 | +12.37% |
| Heico Corp. (HEI-A) | Equity | 0% | 379,644 | 0.75% | $257.91 | $229.22 | $97,913,984 | $87,021,998 | -$10,891,986 | -11.12% |
| Investors Title Company (ITIC) | Equity | 0% | 213,300 | 0.44% | $273.68 | $292.86 | $58,375,945 | $62,467,038 | +$4,091,093 | +7.01% |
| Lowe'S Companies Inc. (LOW) | Equity | +1.83% | 751,980 | 1.26% | $220.49 | $196.08 | $165,804,070 | $147,448,238 | -$18,355,832 | -11.07% |
| Lpl Financial Holdings Inc. (LPLA) | Equity | 0% | 559,951 | 1.20% | $281.68 | $307.50 | $157,726,999 | $172,184,933 | +$14,457,934 | +9.17% |
| Marriott International Inc. (MAR) | Equity | +6.13% | 99,500 | 0.28% | $370.59 | $348.06 | $36,873,706 | $34,631,970 | -$2,241,736 | -6.08% |
| Philip Morris International Inc. (PM) | Equity | 0% | 114,500 | 0.16% | $180.91 | $190.23 | $20,714,195 | $21,781,335 | +$1,067,140 | +5.15% |
| Starbucks Corp. (SBUX) | Equity | 0% | 623,818 | 0.49% | $102.19 | $95.11 | $63,747,961 | $59,331,330 | -$4,416,631 | -6.93% |
| Sunbelt Rentals Holdings INC (SUNB) | Equity | +1.14% | 974,361 | 0.56% | $74.81 | $75.67 | $72,891,947 | $73,729,897 | +$837,950 | +1.15% |
| Union Pacific Corp. (UNP) | Equity | +7.15% | 161,028 | 0.33% | $272.00 | $274.41 | $43,799,616 | $44,187,693 | +$388,077 | +0.89% |
| United Rentals Inc. (URI) | Equity | 0% | 31,150 | 0.27% | $1,132.89 | $1,043.04 | $35,289,524 | $32,490,696 | -$2,798,828 | -7.93% |
| Alphabet Inc. (GOOGL) | Equity | 0% | 572,000 | 1.56% | $357.37 | $351.16 | $204,415,640 | $200,863,520 | -$3,552,120 | -1.74% |
| Amazon.com Inc. (AMZN) | Equity | 0% | 2,030,760 | 3.69% | $238.34 | $254.98 | $484,011,339 | $517,803,185 | +$33,791,846 | +6.98% |
| American Express Company (AXP) | Equity | 0% | 490,450 | 1.26% | $338.25 | $305.07 | $165,894,715 | $149,621,582 | -$16,273,134 | -9.81% |
| Analog Devices Inc. (ADI) | Equity | -2.30% | 999,671 | 3.02% | $397.17 | $390.37 | $397,039,330 | $390,241,568 | -$6,797,762 | -1.71% |
| Aon PLC (AON) | Equity | 0% | 135,800 | 0.34% | $331.69 | $286.10 | $45,043,503 | $38,852,380 | -$6,191,123 | -13.74% |
| Apollo Global Management Inc. (APO) | Equity | 0% | 1,012,500 | 0.91% | $118.31 | $124.15 | $119,788,875 | $125,701,875 | +$5,913,000 | +4.94% |
| Apple Inc. (AAPL) | Equity | 0% | 1,227,290 | 2.70% | $289.36 | $339.75 | $355,128,634 | $416,971,778 | +$61,843,143 | +17.41% |
| Applied Materials Inc. (AMAT) | Equity | 0% | 36,350 | 0.20% | $723.00 | $472.46 | $26,281,050 | $17,173,921 | -$9,107,129 | -34.65% |
| Canadian National Railway Company (CNI) | Equity | 0% | 53,500 | 0.05% | $119.24 | $119.52 | $6,379,340 | $6,394,320 | +$14,980 | +0.23% |
| Costco Wholesale Corp. (COST) | Equity | 0% | 39,150 | 0.28% | $935.47 | $899.41 | $36,623,651 | $35,211,902 | -$1,411,750 | -3.85% |
| Eastman Chemical Company (EMN) | Equity | 0% | 74,950 | 0.04% | $66.98 | $67.07 | $5,020,151 | $5,026,897 | +$6,746 | +0.13% |
| Ecolab Inc. (ECL) | Equity | 0% | 274,300 | 0.58% | $278.61 | $276.22 | $76,422,723 | $75,767,146 | -$655,577 | -0.86% |
| Enterprise Products Partners L.P. (EPD) | Equity | +181.68% | 569,000 | 0.16% | $36.76 | $38.01 | $20,916,440 | $21,627,690 | +$711,250 | +3.40% |
| General Dynamics Corp. (GD) | Equity | 0% | 391,000 | 1.05% | $354.24 | $343.39 | $138,507,840 | $134,265,490 | -$4,242,350 | -3.06% |
| The Goldman Sachs Group Inc. (GS) | Equity | 0% | 359,360 | 2.77% | $1,011.37 | $949.49 | $363,445,924 | $341,208,726 | -$22,237,198 | -6.12% |
| Graham Holdings Company (GHC) | Equity | 0% | 5,200 | 0.05% | $1,141.42 | $1,150.03 | $5,935,384 | $5,980,156 | +$44,772 | +0.75% |
| Illinois Tool Works Inc. (ITW) | Equity | 0% | 327,500 | 0.67% | $270.47 | $270.47 | $88,578,926 | $88,578,925 | -$1 | -0.00% |
| Insperity Inc. (NSP) | Equity | 0% | 181,336 | 0.06% | $41.31 | $50.26 | $7,490,989 | $9,113,947 | +$1,622,958 | +21.67% |
| KKR & Co. Inc. (KKR) | Equity | 0% | 1,451,800 | 1.01% | $91.78 | $98.44 | $133,246,205 | $142,915,192 | +$9,668,987 | +7.26% |
| Lamar Advertising Company (LAMR) | Equity | 0% | 193,000 | 0.23% | $155.98 | $145.13 | $30,104,140 | $28,010,090 | -$2,094,050 | -6.96% |
| Microsoft Corp. (MSFT) | Equity | 0% | 537,630 | 1.53% | $373.02 | $498.00 | $200,546,744 | $267,739,740 | +$67,192,996 | +33.50% |
| Moody's Corp. (MCO) | Equity | 0% | 213,890 | 0.74% | $452.92 | $469.25 | $96,875,059 | $100,367,883 | +$3,492,823 | +3.61% |
| MSCI Inc. (MSCI) | Equity | 0% | 142,850 | 0.61% | $560.04 | $548.88 | $80,001,714 | $78,407,508 | -$1,594,206 | -1.99% |
| Netflix Inc. (NFLX) | Equity | +100% | 40,000 | 0.02% | $71.40 | $72.16 | $2,856,000 | $2,886,400 | +$30,400 | +1.06% |
| Sony Group Corp. (SONY) | Equity | 0% | 335,000 | 0.05% | $20.06 | $23.42 | $6,720,100 | $7,845,700 | +$1,125,600 | +16.75% |
| Tyson Foods Inc. (TSN) | Equity | +2.70% | 913,500 | 0.40% | $57.25 | $51.82 | $52,297,875 | $47,337,570 | -$4,960,305 | -9.48% |
| Uber Technologies Inc. (UBER) | Equity | 0% | 142,500 | 0.08% | $72.16 | $69.89 | $10,282,800 | $9,959,325 | -$323,475 | -3.15% |
| Zoetis Inc. (ZTS) | Equity | +100% | 66,195 | 0.04% | $71.86 | $72.86 | $4,756,773 | $4,822,968 | +$66,195 | +1.39% |
| Iqvia Holdings Inc. (IQV) | Equity | 0% | 46,900 | 0.07% | $193.22 | $270.09 | $9,062,018 | $12,667,221 | +$3,605,203 | +39.78% |
| Mastercard Inc. (MA) | Equity | 0% | 207,540 | 0.81% | $513.60 | $555.89 | $106,592,545 | $115,369,411 | +$8,776,866 | +8.23% |
| Mercadolibre Inc. (MELI) | Equity | +340.37% | 24,000 | 0.31% | $1,697.39 | $1,826.58 | $40,737,361 | $43,837,920 | +$3,100,559 | +7.61% |
| T. Rowe Price Group Inc. (TROW) | Equity | 0% | 314,000 | 0.27% | $113.69 | $104.17 | $35,698,661 | $32,709,380 | -$2,989,281 | -8.37% |
| The Progressive Corp. (PGR) | Equity | 0% | 753,750 | 1.25% | $218.45 | $206.94 | $164,656,689 | $155,981,025 | -$8,675,664 | -5.27% |
| Renaissancere Holdings Ltd. (RNR) | Equity | 0% | 70,000 | 0.17% | $316.90 | $325.90 | $22,183,000 | $22,813,000 | +$630,000 | +2.84% |
| Rli Corp. (RLI) | Equity | 0% | 2,394,544 | 1.08% | $59.07 | $58.13 | $141,445,715 | $139,194,843 | -$2,250,872 | -1.59% |
| Rockwell Automation Inc. (ROK) | Equity | 0% | 154,900 | 0.58% | $495.08 | $427.19 | $76,687,892 | $66,171,731 | -$10,516,161 | -13.71% |
| Rollins Inc. (ROL) | Equity | +1.23% | 1,516,525 | 0.48% | $41.74 | $32.86 | $63,299,755 | $49,833,012 | -$13,466,744 | -21.27% |
| RTX Corp. (RTX) | Equity | 0% | 224,000 | 0.32% | $189.73 | $190.99 | $42,499,520 | $42,781,760 | +$282,240 | +0.66% |
| S&P Global Inc. (SPGI) | Equity | 0% | 117,690 | 0.37% | $407.26 | $402.44 | $47,930,429 | $47,363,164 | -$567,265 | -1.18% |
| The Charles Schwab Corp. (SCHW) | Equity | +0.79% | 1,394,800 | 0.98% | $92.27 | $100.35 | $128,698,196 | $139,968,180 | +$11,269,984 | +8.76% |
| Sei Investments Company (SEIC) | Equity | 0% | 173,200 | 0.12% | $87.71 | $103.76 | $15,191,372 | $17,971,232 | +$2,779,860 | +18.30% |
| The Sherwin-Williams Company (SHW) | Equity | 0% | 94,172 | 0.25% | $344.32 | $328.35 | $32,425,304 | $30,921,376 | -$1,503,928 | -4.64% |
| Sysco Corp. (SYY) | Equity | 0% | 30,500 | 0.02% | $83.58 | $78.67 | $2,549,190 | $2,399,435 | -$149,755 | -5.87% |
| Verisk Analytics Inc. (VRSK) | Equity | 0% | 155,950 | 0.21% | $179.53 | $171.94 | $27,997,704 | $26,814,043 | -$1,183,661 | -4.23% |
| Visa Inc. (V) | Equity | +0.95% | 1,013,912 | 2.65% | $343.09 | $362.04 | $347,863,069 | $367,076,700 | +$19,213,631 | +5.52% |
| Watsco Inc. (WSO) | Equity | +2.68% | 597,750 | 1.90% | $416.73 | $325.58 | $249,100,359 | $194,615,445 | -$54,484,914 | -21.87% |
| Wells Fargo & Company (WFC) | Equity | 0% | 204,450 | 0.13% | $82.64 | $83.15 | $16,895,748 | $17,000,018 | +$104,270 | +0.62% |
| Weyerhaeuser Company (WY) | Equity | +585.71% | 120,000 | 0.02% | $23.94 | $21.54 | $2,872,800 | $2,584,800 | -$288,000 | -10.03% |
| Nike Inc. (NKE) | Equity | 0% | 447,400 | 0.14% | $41.05 | $36.10 | $18,365,770 | $16,151,140 | -$2,214,630 | -12.06% |
| Norfolk Southern Corp. (NSC) | Equity | 0% | 282,500 | 0.68% | $314.59 | $314.00 | $88,871,675 | $88,705,000 | -$166,675 | -0.19% |
| Novo Nordisk As (NVO) | Equity | 0% | 2,869,774 | 1.05% | $47.94 | $39.40 | $137,576,966 | $113,069,096 | -$24,507,870 | -17.81% |
| NVR Inc. (NVR) | Equity | +0.08% | 12,097 | 0.63% | $6,813.40 | $6,338.92 | $82,421,700 | $76,681,915 | -$5,739,785 | -6.96% |
| Old Dominion Freight Line Inc. (ODFL) | Equity | 0% | 429,150 | 0.71% | $216.60 | $177.31 | $92,953,890 | $76,092,587 | -$16,861,304 | -18.14% |
| Otis Worldwide Corp. (OTIS) | Equity | +16.58% | 133,620 | 0.07% | $71.60 | $68.08 | $9,567,192 | $9,096,850 | -$470,342 | -4.92% |
| Paychex Inc. (PAYX) | Equity | 0% | 150,000 | 0.11% | $98.33 | $114.53 | $14,749,500 | $17,179,500 | +$2,430,000 | +16.48% |
| Pepsico Inc. (PEP) | Equity | 0% | 96,210 | 0.10% | $135.40 | $131.19 | $13,026,834 | $12,621,790 | -$405,044 | -3.11% |
| Spotify Technology S.A. (SPOT) | Equity | 0% | 25,900 | 0.09% | $459.13 | $501.30 | $11,891,467 | $12,983,670 | +$1,092,203 | +9.18% |
| UFP Industries Inc. (UFPI) | Equity | +100% | 4,000 | 0.00% | $90.74 | $83.02 | $362,960 | $332,080 | -$30,880 | -8.51% |
| Marsh & Mclennan Companies Inc. (MMC) | Equity | 0% | 763,500 | 0.97% | $166.67 | $171.94 | $127,252,547 | $131,276,190 | +$4,023,643 | +3.16% |
| Brown-Forman Corp. (BF-B) | Equity | 0% | 474,187 | 0.10% | $26.65 | $26.56 | $12,637,084 | $12,594,407 | -$42,677 | -0.34% |