Markel Group Inc. Reports 44.8% Stake in Hagerty, Inc. and Announces Board Member Change
Markel Group Inc. filed an Amendment No. 5 to its Schedule 13D on April 15, 2026, regarding its investment in Hagerty, Inc. (HGTY). The reporting person disclosed beneficial ownership of 79,380,265 shares of Class A Common Stock, representing approximately 44.8% of the class. This holding includes 75,000,000 shares of Class V Common Stock (exchangeable for Class A), 1,272,265 shares issuable upon conversion of Series A Preferred Stock, and 3,108,000 shares of Class A Common Stock. Despite the 44.8% ownership figure, Markel Group controls approximately 29.9% of the total voting power. The primary purpose of this amendment was to report a change in board representation: Michael R. Heaton resigned from Hagerty's Board of Directors effective April 13, 2026, and was replaced by Markel's designee, Henrik Bjornstad, effective April 14, 2026. The filing also provides an updated list of Markel Groupβs directors and executive officers.