Thomas Gayner - Markel Group Inc. 13F Activity & Position Changes (Q1 2020)

According to the SEC 13F filed on Jul 31, 2026, the Markel Group Inc. portfolio showed several notable changes in holdings as of quarter-end Mar 31, 2020. 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 2020, the filing reported:

New Buys - TWITTER INC, American Airlines Group, Inc., The Carlyle Group Inc., Eastman Chemical Company, Guidewire Software, Inc., and 1 more

Increases - ACTIVISION BLIZZARD INC, Apple Inc., Analog Devices, Inc., Archer-Daniels-Midland Company, Albemarle Corporation, and 63 more

Reductions - Elevance Health, Inc., Pepsico, Inc., Walgreens Boots Alliance, Inc.

Complete Exits - Anheuser-Busch Inbev SA Sponsor, CDK GLOBAL INC, DISCOVERY INC-C, Dollar Tree, Inc., Hasbro, Inc., and 4 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 86 transactions.

Date	Symbol	Name	Type	Change Qty	% Change	Value	Remaining
Q1 2020	0QZB TWITTER INC	TWITTER INC	Buy - Position Entry	+8,500	-	$209.00K	8,500
Q1 2020	4ATVI ACTIVISION BLIZZARD INC	ACTIVISION BLIZZARD INC	Buy	+3,000	+1.1%	$16.88M	283,800
Q1 2020	AAL American Airlines Group, Inc.	American Airlines Group, Inc.	Buy - Position Entry	+55,000	-	$670.00K	55,000
Q1 2020	AAPL Apple Inc.	Apple Inc.	Buy	+600	+0.2%	$76.45M	300,635
Q1 2020	ADI Analog Devices, Inc.	Analog Devices, Inc.	Buy	+30,000	+3.5%	$79.41M	885,811
Q1 2020	ADM Archer-Daniels-Midland Company	Archer-Daniels-Midland Company	Buy	+15,000	+1.0%	$52.01M	1,478,300
Q1 2020	ALB Albemarle Corporation	Albemarle Corporation	Buy	+3,000	+4.1%	$4.28M	76,000
Q1 2020	AMT American Tower Corporation (REI	American Tower Corporation (REI	Buy	+2,950	+6.1%	$11.14M	51,150
Q1 2020	AMZN Amazon.com, Inc.	Amazon.com, Inc.	Buy	+510	+0.5%	$191.94M	98,442
Q1 2020	AN AutoNation, Inc.	AutoNation, Inc.	Buy	+3,250	+7.5%	$1.31M	46,860
Q1 2020	AXP American Express Company	American Express Company	Buy	+2,700	+0.6%	$41.43M	483,950
Q1 2020	BALL Ball Corporation	Ball Corporation	Buy	+4,000	+9.5%	$2.97M	46,000
Q1 2020	BAM Brookfield Asset Management Inc	Brookfield Asset Management Inc	Buy	+5,800	+0.1%	$256.67M	5,800,441
Q1 2020	BK The Bank of New York Mellon Cor	The Bank of New York Mellon Cor	Buy	+96,000	+37.8%	$11.79M	350,000
Q1 2020	BKNG Booking Holdings Inc. Common St	Booking Holdings Inc. Common St	Buy	+210	+105.0%	$552.00K	410
Q1 2020	BLK BlackRock, Inc.	BlackRock, Inc.	Buy	+200	+0.1%	$96.88M	220,200
Q1 2020	BRK-A Berkshire Hathaway Inc.	Berkshire Hathaway Inc.	Buy	+9	+0.8%	$303.01M	1,114
Q1 2020	BRK-B Berkshire Hathaway Inc. New	Berkshire Hathaway Inc. New	Buy	+5,330	+0.3%	$280.04M	1,531,687
Q1 2020	BUD Anheuser-Busch Inbev SA Sponsor	Anheuser-Busch Inbev SA Sponsor	Sell - Position Exit	-13,000	-100.0%	$0.00	-
Q1 2020	BX Blackstone Inc.	Blackstone Inc.	Buy	+6,000	+0.5%	$56.01M	1,229,000
Q1 2020	C Citigroup, Inc.	Citigroup, Inc.	Buy	+2,300	+11.3%	$953.00K	22,620
Q1 2020	CAT Caterpillar, Inc.	Caterpillar, Inc.	Buy	+3,500	+1.2%	$33.36M	287,500
Q1 2020	CCK Crown Holdings, Inc.	Crown Holdings, Inc.	Buy	+4,000	+3.6%	$6.73M	116,000
Q1 2020	CDK CDK GLOBAL INC	CDK GLOBAL INC	Sell - Position Exit	-176,897	-100.0%	$0.00	-
Q1 2020	CG The Carlyle Group Inc.	The Carlyle Group Inc.	Buy - Position Entry	+1,222,000	-	$26.46M	1,222,000
Q1 2020	CHH Choice Hotels International, In	Choice Hotels International, In	Buy	+10,000	+4.9%	$13.05M	213,000
Q1 2020	CMCSA Comcast Corporation	Comcast Corporation	Buy	+1,000	+0.2%	$17.95M	522,000
Q1 2020	DAL Delta Air Lines, Inc.	Delta Air Lines, Inc.	Buy	+43,500	+10.4%	$13.14M	460,500
Q1 2020	DHI D.R. Horton, Inc.	D.R. Horton, Inc.	Buy	+1,300	+4.1%	$1.11M	32,647
Q1 2020	DIS Walt Disney Company (The)	Walt Disney Company (The)	Buy	+7,950	+0.4%	$179.91M	1,862,380