Thomas Gayner - Markel Group Inc. 13F Activity & Position Changes (Q1 2016)

According to the SEC 13F filed on Oct 30, 2026, the Markel Group Inc. portfolio showed several notable changes in holdings as of quarter-end Mar 31, 2016. The activity included new positions, additions to existing holdings, reductions, and complete exits, providing a clear view of how the portfolio evolved during the quarter.

During Q1 2016, the filing reported:

New Buys - Analog Devices, Inc., Cisco Systems, Inc., Goldman Sachs Group, Inc. (The), Novartis AG, Texas Instruments Incorporated, and 1 more

Increases - Apple Inc., Accenture plc, Archer-Daniels-Midland Company, Amazon.com, Inc., Boeing Company (The), and 28 more

Reductions - Ascent Industries Co., Federated Hermes, Inc.

Complete Exits - Donaldson Company, Inc., FedEx Corporation, PJT Partners Inc., Rush Enterprises, Inc., State Street Corporation, and 1 more

These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.

Showing 30 of 47 transactions.

Date	Symbol	Name	Type	Change Qty	% Change	Value	Remaining
Q1 2016	AAPL Apple Inc.	Apple Inc.	Buy	+2,100	+8.8%	$2.85M	26,100
Q1 2016	ACN Accenture plc	Accenture plc	Buy	+2,300	+1.7%	$16.07M	139,300
Q1 2016	ACNT Ascent Industries Co.	Ascent Industries Co.	Sell	-94,862	-12.1%	$5.47M	690,481
Q1 2016	ADI Analog Devices, Inc.	Analog Devices, Inc.	Buy - Position Entry	+56,000	-	$3.31M	56,000
Q1 2016	ADM Archer-Daniels-Midland Company	Archer-Daniels-Midland Company	Buy	+7,300	+0.5%	$51.97M	1,431,300
Q1 2016	AMZN Amazon.com, Inc.	Amazon.com, Inc.	Buy	+5,700	+172.7%	$5.34M	9,000
Q1 2016	BA Boeing Company (The)	Boeing Company (The)	Buy	+300	+6.2%	$647.00K	5,100
Q1 2016	BAM Brookfield Asset Management Inc	Brookfield Asset Management Inc	Buy	+5,200	+0.1%	$175.62M	5,048,021
Q1 2016	CMI Cummins Inc.	Cummins Inc.	Buy	+1,500	+4.2%	$4.12M	37,500
Q1 2016	CSCO Cisco Systems, Inc.	Cisco Systems, Inc.	Buy - Position Entry	+63,000	-	$1.79M	63,000
Q1 2016	CSX CSX Corporation	CSX Corporation	Buy	+5,000	+5.9%	$2.32M	90,000
Q1 2016	DCI Donaldson Company, Inc.	Donaldson Company, Inc.	Sell - Position Exit	-48,000	-100.0%	$0.00	-
Q1 2016	DE Deere & Company	Deere & Company	Buy	+1,400	+0.1%	$84.10M	1,092,400
Q1 2016	DEO Diageo plc	Diageo plc	Buy	+2,200	+0.2%	$138.80M	1,286,700
Q1 2016	DIS Walt Disney Company (The)	Walt Disney Company (The)	Buy	+2,200	+0.1%	$158.02M	1,591,200
Q1 2016	DISCKEUR DISCOVERY INC-C	DISCOVERY INC-C	Buy	+20,000	+2.8%	$19.93M	738,000
Q1 2016	ECL Ecolab Inc.	Ecolab Inc.	Buy	+2,500	+1.6%	$18.07M	162,000
Q1 2016	FDX FedEx Corporation	FedEx Corporation	Sell - Position Exit	-32,000	-100.0%	$0.00	-
Q1 2016	FHI Federated Hermes, Inc.	Federated Hermes, Inc.	Sell	-25,000	-3.3%	$21.32M	739,000
Q1 2016	GOOG Alphabet Inc.	Alphabet Inc.	Buy	+7,000	+43.7%	$17.16M	23,031
Q1 2016	GS Goldman Sachs Group, Inc. (The)	Goldman Sachs Group, Inc. (The)	Buy - Position Entry	+3,600	-	$565.00K	3,600
Q1 2016	HSY The Hershey Company	The Hershey Company	Buy	+4,400	+36.7%	$1.51M	16,400
Q1 2016	JNJ Johnson & Johnson	Johnson & Johnson	Buy	+5,600	+0.9%	$66.09M	610,800
Q1 2016	LYV Live Nation Entertainment, Inc.	Live Nation Entertainment, Inc.	Buy	+8,400	+33.6%	$745.00K	33,400
Q1 2016	MA Mastercard Incorporated	Mastercard Incorporated	Buy	+1,100	+0.8%	$13.57M	143,600
Q1 2016	MAR Marriott International	Marriott International	Buy	+3,400	+0.2%	$103.34M	1,451,769
Q1 2016	META Meta Platforms, Inc.	Meta Platforms, Inc.	Buy	+10,500	+300.0%	$1.60M	14,000
Q1 2016	MSFT Microsoft Corporation	Microsoft Corporation	Buy	+34,000	+113.3%	$3.54M	64,000
Q1 2016	NSC Norfolk Southern Corporation	Norfolk Southern Corporation	Buy	+1,500	+0.7%	$17.36M	208,500
Q1 2016	NVS Novartis AG	Novartis AG	Buy - Position Entry	+3,700	-	$268.00K	3,700