diff --git a/src/main/java/net/rptools/maptool/client/tool/PointerTool.java b/src/main/java/net/rptools/maptool/client/tool/PointerTool.java
index 774a4e1f65..d638930821 100644
--- a/src/main/java/net/rptools/maptool/client/tool/PointerTool.java
+++ b/src/main/java/net/rptools/maptool/client/tool/PointerTool.java
@@ -38,7 +38,6 @@
 import net.rptools.lib.AwtUtil;
 import net.rptools.lib.CodeTimer;
 import net.rptools.lib.MD5Key;
-import net.rptools.lib.StringUtil;
 import net.rptools.maptool.client.*;
 import net.rptools.maptool.client.events.TokenHoverEnter;
 import net.rptools.maptool.client.events.TokenHoverExit;
@@ -49,6 +48,7 @@
 import net.rptools.maptool.client.ui.theme.Images;
 import net.rptools.maptool.client.ui.theme.RessourceManager;
 import net.rptools.maptool.client.ui.zone.FogUtil;
+import net.rptools.maptool.client.ui.zone.Marker;
 import net.rptools.maptool.client.ui.zone.PlayerView;
 import net.rptools.maptool.client.ui.zone.renderer.ZoneRenderer;
 import net.rptools.maptool.events.MapToolEventBus;
@@ -88,7 +88,7 @@ public class PointerTool extends DefaultTool {
   private boolean mouseButtonDown = false;
 
   private Token tokenUnderMouse;
-  private Token markerUnderMouse;
+  private Marker markerUnderMouse;
   private int keysDown; // used to record whether Shift/Ctrl/Meta keys are down
 
   private final TokenStackPanel tokenStackPanel = new TokenStackPanel();
@@ -400,7 +400,7 @@ public void mousePressed(MouseEvent e) {
     if (isShowingHover) {
       isShowingHover = false;
       hoverTokenNotes = null;
-      markerUnderMouse = renderer.getMarkerAt(e.getX(), e.getY());
+      markerUnderMouse = renderer.getViewModel().getMarkerAt(e.getX(), e.getY());
       repaint();
     }
     if (isShowingTokenStackPopup) {
@@ -668,14 +668,11 @@ public void mouseMoved(MouseEvent e) {
                   SwingUtil.isShiftDown(keysDown),
                   SwingUtil.isControlDown(keysDown)));
     }
-    Token marker = renderer.getMarkerAt(mouseX, mouseY);
-    if (!AppUtil.tokenIsVisible(renderer.getZone(), marker, renderer.getPlayerView())) {
-      marker = null;
-    }
+    Marker marker = renderer.getViewModel().getMarkerAt(mouseX, mouseY);
     if (marker != markerUnderMouse && marker != null) {
       markerUnderMouse = marker;
       renderer.setCursor(Cursor.getPredefinedCursor(Cursor.HAND_CURSOR));
-      MapTool.getFrame().setStatusMessage(markerUnderMouse.getName());
+      MapTool.getFrame().setStatusMessage(markerUnderMouse.name());
     } else if (marker == null && markerUnderMouse != null) {
       markerUnderMouse = null;
       renderer.setCursor(Cursor.getPredefinedCursor(Cursor.DEFAULT_CURSOR));
@@ -1678,42 +1675,36 @@ && new StatSheetManager().isLegacyStatSheet(tokenUnderMouse.getStatSheet())) {
     }
   }
 
-  private String createHoverNote(Token marker) {
-    var notes = HTMLUtil.htmlize(marker.getNotes(), marker.getNotesType());
-    var gmNotes = HTMLUtil.htmlize(marker.getGMNotes(), marker.getGmNotesType());
-
-    boolean showGMNotes = MapTool.getPlayer().isGM() && !StringUtil.isEmpty(gmNotes);
-    boolean showNotes = !StringUtil.isEmpty(notes);
+  private String createHoverNote(Marker marker) {
+    boolean showGMNotes = marker.gmNotes() != null;
+    boolean showNotes = marker.playerNotes() != null;
 
     StringBuilder builder = new StringBuilder();
 
-    if (marker.getPortraitImage() != null) {
+    if (marker.imageKey() != null) {
       builder.append("<table><tr><td valign=top>");
     }
     if (showGMNotes || showNotes) {
-      builder.append("<b><span class='title'>").append(marker.getName());
-      if (MapTool.getPlayer().isGM()
-          && !StringUtil.isEmpty(marker.getGMName())
-          && !marker.getName().equals(marker.getGMName())) {
-        builder.append(" (").append(marker.getGMName()).append(")");
+      builder.append("<b><span class='title'>").append(marker.name());
+      if (marker.gmName() != null && !marker.name().equals(marker.gmName())) {
+        builder.append(" (").append(marker.gmName()).append(")");
       }
       builder.append("</span></b><br>");
     }
+
     if (showNotes) {
-      builder.append(notes);
-      // add a gap between player and gmNotes
-      if (showGMNotes) {
-        builder.append("<br><br>");
-      }
+      builder.append(
+          HTMLUtil.htmlize(marker.playerNotes().note(), marker.playerNotes().mimeType()));
     }
     if (showGMNotes) {
       if (showNotes) {
-        builder.append("<b><span class='title'>GM Notes</span></b><br>");
+        // add a gap and heading between player and gmNotes
+        builder.append("<br><br><b><span class='title'>GM Notes</span></b><br>");
       }
-      builder.append(gmNotes);
+      builder.append(HTMLUtil.htmlize(marker.gmNotes().note(), marker.gmNotes().mimeType()));
     }
-    if (marker.getPortraitImage() != null) {
-      BufferedImage image = ImageManager.getImageAndWait(marker.getPortraitImage());
+    if (marker.imageKey() != null) {
+      BufferedImage image = ImageManager.getImageAndWait(marker.imageKey());
       Dimension imgSize = new Dimension(image.getWidth(), image.getHeight());
       if (imgSize.width > AppConstants.NOTE_PORTRAIT_SIZE
           || imgSize.height > AppConstants.NOTE_PORTRAIT_SIZE) {
@@ -1722,15 +1713,14 @@ private String createHoverNote(Token marker) {
       builder.append("</td><td valign=top>");
       builder
           .append("<img src='asset://")
-          .append(marker.getPortraitImage())
+          .append(marker.imageKey())
           .append("' width=")
           .append(imgSize.width)
           .append(" height=")
           .append(imgSize.height)
           .append("></tr></table>");
     }
-    String hoverText = builder.toString();
-    return hoverText;
+    return builder.toString();
   }
 
   private static final class TokenDragOp {
diff --git a/src/main/java/net/rptools/maptool/client/ui/zone/Marker.java b/src/main/java/net/rptools/maptool/client/ui/zone/Marker.java
new file mode 100644
index 0000000000..626915072d
--- /dev/null
+++ b/src/main/java/net/rptools/maptool/client/ui/zone/Marker.java
@@ -0,0 +1,27 @@
+/*
+ * This software Copyright by the RPTools.net development team, and
+ * licensed under the Affero GPL Version 3 or, at your option, any later
+ * version.
+ *
+ * MapTool Source Code is distributed in the hope that it will be
+ * useful, but WITHOUT ANY WARRANTY; without even the implied warranty
+ * of MERCHANTABILITY or FITNESS FOR A PARTICULAR PURPOSE.
+ *
+ * You should have received a copy of the GNU Affero General Public
+ * License * along with this source Code.  If not, please visit
+ * <http://www.gnu.org/licenses/> and specifically the Affero license
+ * text at <http://www.gnu.org/licenses/agpl.html>.
+ */
+package net.rptools.maptool.client.ui.zone;
+
+import java.awt.geom.Area;
+import javax.annotation.Nullable;
+import net.rptools.lib.MD5Key;
+
+public record Marker(
+    Area bounds,
+    String name,
+    @Nullable String gmName,
+    @Nullable Notes playerNotes,
+    @Nullable Notes gmNotes,
+    @Nullable MD5Key imageKey) {}
diff --git a/src/main/java/net/rptools/maptool/client/ui/zone/Notes.java b/src/main/java/net/rptools/maptool/client/ui/zone/Notes.java
new file mode 100644
index 0000000000..11885235dc
--- /dev/null
+++ b/src/main/java/net/rptools/maptool/client/ui/zone/Notes.java
@@ -0,0 +1,17 @@
+/*
+ * This software Copyright by the RPTools.net development team, and
+ * licensed under the Affero GPL Version 3 or, at your option, any later
+ * version.
+ *
+ * MapTool Source Code is distributed in the hope that it will be
+ * useful, but WITHOUT ANY WARRANTY; without even the implied warranty
+ * of MERCHANTABILITY or FITNESS FOR A PARTICULAR PURPOSE.
+ *
+ * You should have received a copy of the GNU Affero General Public
+ * License * along with this source Code.  If not, please visit
+ * <http://www.gnu.org/licenses/> and specifically the Affero license
+ * text at <http://www.gnu.org/licenses/agpl.html>.
+ */
+package net.rptools.maptool.client.ui.zone;
+
+public record Notes(String note, String mimeType) {}
diff --git a/src/main/java/net/rptools/maptool/client/ui/zone/ZoneViewModel.java b/src/main/java/net/rptools/maptool/client/ui/zone/ZoneViewModel.java
index 913e8d33e4..e91e16363f 100644
--- a/src/main/java/net/rptools/maptool/client/ui/zone/ZoneViewModel.java
+++ b/src/main/java/net/rptools/maptool/client/ui/zone/ZoneViewModel.java
@@ -118,7 +118,7 @@ public static TokenPosition fromToken(Token token, Zone zone) {
   private final Map<Zone.Layer, List<TokenPosition>> tokenPositionsByLayer =
       CollectionUtil.newFilledEnumMap(Zone.Layer.class, l -> new LinkedList<>());
 
-  private final List<TokenPosition> markerList = new ArrayList<>();
+  private final List<Marker> markerList = new ArrayList<>();
   private final Map<Token, Set<Token>> tokenStackMap = new HashMap<>();
 
   private final Map<Zone.Layer, Set<GUID>> visibleTokensByLayer =
@@ -229,8 +229,14 @@ public List<TokenPosition> getTokenPositionsForLayer(Zone.Layer layer) {
         tokenPositionsByLayer.getOrDefault(layer, Collections.emptyList()));
   }
 
-  public List<TokenPosition> getMarkerPositions() {
-    return Collections.unmodifiableList(markerList);
+  public @Nullable Marker getMarkerAt(int x, int y) {
+    var zonePoint = zoneScale.toWorldSpace(x, y);
+    for (var marker : markerList.reversed()) {
+      if (marker.bounds().contains(zonePoint)) {
+        return marker;
+      }
+    }
+    return null;
   }
 
   public Map<Token, Set<Token>> getTokenStackMap() {
@@ -277,7 +283,7 @@ public void update() {
     updateVisibleArea();
     updateMovingTokens();
     updateTokenPositions();
-    updateMarkerPositions();
+    updateMarkerList();
     updateTokenStacks();
     updateVisibleTokens();
     updateLightPosition();
@@ -397,17 +403,48 @@ private void updateTokenPositions() {
     }
   }
 
-  /** Updates {@link #markerList} based on {@link #tokenPositionsByLayer}. */
-  private void updateMarkerPositions() {
+  /**
+   * Updates {@link #markerList} based on {@link #playerView}, {@link #tokenPositionsByLayer}, and
+   * {@link #visibleTokensByLayer}
+   */
+  private void updateMarkerList() {
+    var isGM = playerView.isGMView();
+
     markerList.clear();
 
-    for (var list : tokenPositionsByLayer.values()) {
-      for (var tokenPosition : list) {
+    for (var entry : tokenPositionsByLayer.entrySet()) {
+      var layer = entry.getKey();
+      if (!layer.isMarkerLayer()) {
+        // No markers in this layer, so don't bother iterating over them.
+        continue;
+      }
+
+      for (var tokenPosition : entry.getValue()) {
         var token = tokenPosition.token();
-        var playerCanSeeMarker =
-            MapTool.getPlayer().isGM() || !StringUtil.isEmpty(token.getNotes());
-        if (tokenPosition.token().isMarker() && playerCanSeeMarker) {
-          markerList.add(tokenPosition);
+        if (!visibleTokensByLayer.get(layer).contains(token.getId())) {
+          // No value in storing markers the player can't see.
+          continue;
+        }
+
+        var marker =
+            new Marker(
+                tokenPosition.transformedBounds(),
+                token.getName(),
+                isGM && !StringUtil.isEmpty(token.getGMName()) ? token.getGMName() : null,
+                StringUtil.isEmpty(token.getNotes())
+                    ? null
+                    : new Notes(token.getNotes(), token.getNotesType()),
+                StringUtil.isEmpty(token.getGMNotes()) || !isGM
+                    ? null
+                    : new Notes(token.getGMNotes(), token.getGmNotesType()),
+                token.getPortraitImage());
+
+        // A GM sees a marker if it has any notes or a portrait.
+        // A player sees a marker only if it has player notes.
+        if (marker.playerNotes() != null
+            || marker.imageKey() != null
+            || (isGM && marker.gmNotes() != null)) {
+          markerList.add(marker);
         }
       }
     }
diff --git a/src/main/java/net/rptools/maptool/client/ui/zone/renderer/ZoneRenderer.java b/src/main/java/net/rptools/maptool/client/ui/zone/renderer/ZoneRenderer.java
index 7ebc2dcdfd..6a4ea1ad55 100644
--- a/src/main/java/net/rptools/maptool/client/ui/zone/renderer/ZoneRenderer.java
+++ b/src/main/java/net/rptools/maptool/client/ui/zone/renderer/ZoneRenderer.java
@@ -2162,20 +2162,6 @@ public Rectangle getLabelBounds(Label label) {
     return null;
   }
 
-  public @Nullable Token getMarkerAt(int x, int y) {
-    var zonePoint = viewModel.getZoneScale().toWorldSpace(x, y);
-
-    List<ZoneViewModel.TokenPosition> positionList =
-        new ArrayList<>(viewModel.getMarkerPositions());
-    Collections.reverse(positionList);
-    for (ZoneViewModel.TokenPosition position : positionList) {
-      if (position.transformedBounds().contains(zonePoint)) {
-        return position.token();
-      }
-    }
-    return null;
-  }
-
   public List<Token> getTokenStackAt(int x, int y) {
     var tokenStackMap = viewModel.getTokenStackMap();
 
diff --git a/src/main/java/net/rptools/maptool/model/Token.java b/src/main/java/net/rptools/maptool/model/Token.java
index 43881adf30..073a0f85e3 100644
--- a/src/main/java/net/rptools/maptool/model/Token.java
+++ b/src/main/java/net/rptools/maptool/model/Token.java
@@ -43,7 +43,6 @@
 import javax.swing.ImageIcon;
 import net.rptools.CaseInsensitiveHashMap;
 import net.rptools.lib.MD5Key;
-import net.rptools.lib.StringUtil;
 import net.rptools.lib.image.ImageUtil;
 import net.rptools.lib.transferable.TokenTransferData;
 import net.rptools.maptool.client.AppUtil;
@@ -613,11 +612,6 @@ public int getHeight() {
     }
   }
 
-  public boolean isMarker() {
-    return getLayer().isMarkerLayer()
-        && (!StringUtil.isEmpty(notes) || !StringUtil.isEmpty(gmNotes) || portraitImage != null);
-  }
-
   public String getPropertyType() {
     return propertyType;
   }