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Markel Group Inc and MFS Investment Management: where the books meet

At Q2 2026, at least 25% of the two 13F books was the same, across 75 stocks both listed, against 16% at Q2 2013. Overlap is the smaller of each shared stock’s two weights, added up: the part of one book that could be swapped for the other’s without a trade.

Overlap by quarter
0%13%26%Q2 2013: 16%, 49 in bothQ3 2013: 16%, 50 in bothQ4 2013: 17%, 53 in bothQ1 2014: 17%, 49 in both14Q2 2014: 17%, 51 in bothQ3 2014: 17%, 52 in bothQ4 2014: 16%, 50 in bothQ1 2015: 16%, 52 in both15Q2 2015: 16%, 55 in bothQ3 2015: 17%, 58 in bothQ4 2015: 18%, 67 in bothQ1 2016: 17%, 68 in both16Q2 2016: 19%, 68 in bothQ3 2016: 19%, 69 in bothQ4 2016: 19%, 70 in bothQ1 2017: 20%, 73 in both17Q2 2017: 19%, 72 in bothQ3 2017: 19%, 71 in bothQ4 2017: 19%, 69 in bothQ1 2018: 19%, 62 in both18Q2 2018: 19%, 67 in bothQ3 2018: 20%, 68 in bothQ4 2018: 21%, 70 in bothQ1 2019: 21%, 70 in both19Q2 2019: 22%, 70 in bothQ3 2019: 22%, 65 in bothQ4 2019: 22%, 62 in bothQ1 2020: 23%, 69 in both20Q2 2020: 24%, 66 in bothQ3 2020: 24%, 65 in bothQ4 2020: 24%, 65 in bothQ1 2021: 24%, 70 in both21Q2 2021: 24%, 73 in bothQ3 2021: 24%, 72 in bothQ4 2021: 24%, 66 in bothQ1 2022: 24%, 73 in both22Q2 2022: 24%, 72 in bothQ3 2022: 24%, 74 in bothQ4 2022: 24%, 76 in bothQ1 2023: 24%, 76 in both23Q2 2023: 25%, 73 in bothQ3 2023: 25%, 79 in bothQ4 2023: 26%, 77 in bothQ1 2024: 25%, 76 in both24Q2 2024: 26%, 80 in bothQ3 2024: 26%, 76 in bothQ4 2024: 26%, 72 in bothQ1 2025: 26%, 73 in both25Q2 2025: 26%, 79 in bothQ3 2025: 26%, 76 in bothQ4 2025: 26%, 73 in bothQ1 2026: 26%, 74 in both26Q2 2026: 25%, 75 in both
  • Q2 2013: 16%, 49 in both
  • Q3 2013: 16%, 50 in both
  • Q4 2013: 17%, 53 in both
  • Q1 2014: 17%, 49 in both
  • Q2 2014: 17%, 51 in both
  • Q3 2014: 17%, 52 in both
  • Q4 2014: 16%, 50 in both
  • Q1 2015: 16%, 52 in both
  • Q2 2015: 16%, 55 in both
  • Q3 2015: 17%, 58 in both
  • Q4 2015: 18%, 67 in both
  • Q1 2016: 17%, 68 in both
  • Q2 2016: 19%, 68 in both
  • Q3 2016: 19%, 69 in both
  • Q4 2016: 19%, 70 in both
  • Q1 2017: 20%, 73 in both
  • Q2 2017: 19%, 72 in both
  • Q3 2017: 19%, 71 in both
  • Q4 2017: 19%, 69 in both
  • Q1 2018: 19%, 62 in both
  • Q2 2018: 19%, 67 in both
  • Q3 2018: 20%, 68 in both
  • Q4 2018: 21%, 70 in both
  • Q1 2019: 21%, 70 in both
  • Q2 2019: 22%, 70 in both
  • Q3 2019: 22%, 65 in both
  • Q4 2019: 22%, 62 in both
  • Q1 2020: 23%, 69 in both
  • Q2 2020: 24%, 66 in both
  • Q3 2020: 24%, 65 in both
  • Q4 2020: 24%, 65 in both
  • Q1 2021: 24%, 70 in both
  • Q2 2021: 24%, 73 in both
  • Q3 2021: 24%, 72 in both
  • Q4 2021: 24%, 66 in both
  • Q1 2022: 24%, 73 in both
  • Q2 2022: 24%, 72 in both
  • Q3 2022: 24%, 74 in both
  • Q4 2022: 24%, 76 in both
  • Q1 2023: 24%, 76 in both
  • Q2 2023: 25%, 73 in both
  • Q3 2023: 25%, 79 in both
  • Q4 2023: 26%, 77 in both
  • Q1 2024: 25%, 76 in both
  • Q2 2024: 26%, 80 in both
  • Q3 2024: 26%, 76 in both
  • Q4 2024: 26%, 72 in both
  • Q1 2025: 26%, 73 in both
  • Q2 2025: 26%, 79 in both
  • Q3 2025: 26%, 76 in both
  • Q4 2025: 26%, 73 in both
  • Q1 2026: 26%, 74 in both
  • Q2 2026: 25%, 75 in both

Only quarters both managers filed. Where either filing has more positions than are read each quarter, a stock both hold below that range is not counted, so the figure is a floor.

What the overlap is made of, Q2 2026

Stocks both listed, by the smaller of the two weights. A weight is the stock’s share of that manager’s reported book, which says how large the position is, not how strongly it is held.

StockMarkel Group IncMFS Investment Management
Amazon.com(AMZN)3.7%Held2.8%Added
Apple Inc(AAPL)2.7%Held2.8%Added
Alphabet Inc Class A(GOOGL)1.6%Held3.3%Added
Microsoft Corp(MSFT)1.5%Held2.8%Trimmed
Johnson and Johnson(JNJ)1.2%Held0.9%Trimmed
Linde PLC(LIN)0.9%Added1.0%Added
Mastercard, Inc(MA)0.8%Held0.9%Trimmed
Visa(V)2.6%Added0.8%Trimmed
Franco Nev Corp(FNV)1.2%Added0.8%Trimmed
Analog Devices Inc(ADI)3.0%Trimmed0.7%Trimmed
Charles Schwab(SCHW)1.0%Added0.7%Trimmed
Facebook(META)1.0%Trimmed0.7%Trimmed
JP Morgan(JPM)0.6%Held1.3%Trimmed
Caterpillar Inc(CAT)2.7%Held0.6%Added
Progressive Corp(PGR)1.3%Held0.5%Trimmed
American Express(AXP)1.3%Held0.5%Trimmed
General Dynamics(GD)1.1%Held0.5%Trimmed
Texas Instruments Inc(TXN)1.6%Held0.4%Trimmed
Lowes(LOW)1.3%Added0.4%Trimmed
Marsh & McLennan(MRSH)1.0%Held0.3%Trimmed

and 55 smaller ones

Moved different ways in Q2 2026

Stocks one manager started or added to while the other trimmed or sold out, between the same two quarter ends. A 13F shows the quarter ends, never when in between anything was bought or sold, or why.

  • Visa(V)Markel Group Inc added; MFS Investment Management trimmed
  • Franco Nev Corp(FNV)Markel Group Inc added; MFS Investment Management trimmed
  • Thermo Fisher Scient(TMO)Markel Group Inc added; MFS Investment Management trimmed
  • Exxon Corporation(XOM)Markel Group Inc added; MFS Investment Management trimmed
  • Charles Schwab(SCHW)Markel Group Inc added; MFS Investment Management trimmed
  • Union Pacific(UNP)Markel Group Inc added; MFS Investment Management trimmed
  • Marriott International(MAR)Markel Group Inc added; MFS Investment Management trimmed
  • Lowes(LOW)Markel Group Inc added; MFS Investment Management trimmed
  • Canadian Pacific Kansas City(CP)Markel Group Inc added; MFS Investment Management trimmed
  • Air Products & Chemicals(APD)Markel Group Inc added; MFS Investment Management trimmed
  • Home Depot(HD)Markel Group Inc added; MFS Investment Management trimmed
  • Otis Worldwide Corp(OTIS)Markel Group Inc added; MFS Investment Management trimmed
Markel Group Inc: the recordMFS Investment Management: the record

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