Thomas Gayner - Markel Group Inc. 13F Activity & Position Changes (Q3 2019)

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 Sep 30, 2019. 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 Q3 2019, the filing reported:

New Buys - APOLLO ASSET MANAGEMENT INC, Blackstone Inc., The Kraft Heinz Company, Lennar Corporation

Increases - ACTIVISION BLIZZARD INC, Apple Inc., Analog Devices, Inc., American Tower Corporation (REI, Amazon.com, Inc., and 55 more

Reductions - DISCOVERY INC-C, Shake Shack, Inc., Stericycle, Inc.

Complete Exits - BLACKSTONE INC, CME Group Inc., The Goodyear Tire & Rubber Comp, Liberty Latin America Ltd, NXP Semiconductors, 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 73 transactions.

Date	Symbol	Name	Type	Change Qty	% Change	Value	Remaining
Q3 2019	4ATVI ACTIVISION BLIZZARD INC	ACTIVISION BLIZZARD INC	Buy	+18,000	+6.8%	$14.86M	280,800
Q3 2019	AAPL Apple Inc.	Apple Inc.	Buy	+6,700	+2.3%	$66.56M	297,185
Q3 2019	ADI Analog Devices, Inc.	Analog Devices, Inc.	Buy	+31,000	+3.8%	$94.28M	843,811
Q3 2019	AMT American Tower Corporation (REI	American Tower Corporation (REI	Buy	+9,600	+27.0%	$9.97M	45,100
Q3 2019	AMZN Amazon.com, Inc.	Amazon.com, Inc.	Buy	+2,550	+2.7%	$168.83M	97,257
Q3 2019	AN AutoNation, Inc.	AutoNation, Inc.	Buy	+750	+1.8%	$2.19M	43,210
Q3 2019	APOEUR APOLLO ASSET MANAGEMENT INC	APOLLO ASSET MANAGEMENT INC	Buy - Position Entry	+1,012,500	-	$38.29M	1,012,500
Q3 2019	AXP American Express Company	American Express Company	Buy	+20,300	+4.5%	$55.75M	471,300
Q3 2019	BALL Ball Corporation	Ball Corporation	Buy	+28,000	+933.3%	$2.26M	31,000
Q3 2019	BAM Brookfield Asset Management Inc	Brookfield Asset Management Inc	Buy	+17,800	+0.3%	$306.97M	5,782,141
Q3 2019	BK The Bank of New York Mellon Cor	The Bank of New York Mellon Cor	Buy	+126,000	+157.5%	$9.31M	206,000
Q3 2019	BLK BlackRock, Inc.	BlackRock, Inc.	Buy	+4,400	+2.1%	$96.79M	217,200
Q3 2019	BRK-B Berkshire Hathaway Inc. New	Berkshire Hathaway Inc. New	Buy	+2,170	+0.1%	$317.26M	1,525,157
Q3 2019	BUD Anheuser-Busch Inbev SA Sponsor	Anheuser-Busch Inbev SA Sponsor	Buy	+10,000	+333.3%	$1.24M	13,000
Q3 2019	BX Blackstone Inc.	Blackstone Inc.	Buy - Position Entry	+1,206,000	-	$58.90M	1,206,000
Q3 2019	BXCHF BLACKSTONE INC	BLACKSTONE INC	Sell - Position Exit	-1,206,000	-100.0%	$0.00	-
Q3 2019	C Citigroup, Inc.	Citigroup, Inc.	Buy	+2,100	+13.1%	$1.25M	18,170
Q3 2019	CCK Crown Holdings, Inc.	Crown Holdings, Inc.	Buy	+26,000	+34.7%	$6.67M	101,000
Q3 2019	CHH Choice Hotels International, In	Choice Hotels International, In	Buy	+17,500	+10.3%	$16.64M	187,000
Q3 2019	CMCSA Comcast Corporation	Comcast Corporation	Buy	+9,000	+1.8%	$23.49M	521,000
Q3 2019	CME CME Group Inc.	CME Group Inc.	Sell - Position Exit	-135,000	-100.0%	$0.00	-
Q3 2019	CVS CVS Health Corporation	CVS Health Corporation	Buy	+48,000	+17.5%	$20.37M	323,000
Q3 2019	DAL Delta Air Lines, Inc.	Delta Air Lines, Inc.	Buy	+63,000	+21.1%	$20.85M	362,000
Q3 2019	DHI D.R. Horton, Inc.	D.R. Horton, Inc.	Buy	+17,590	+148.4%	$1.55M	29,447
Q3 2019	DIS Walt Disney Company (The)	Walt Disney Company (The)	Buy	+19,950	+1.1%	$240.17M	1,842,950
Q3 2019	DISCKEUR DISCOVERY INC-C	DISCOVERY INC-C	Sell	-499,000	-42.4%	$16.67M	677,000
Q3 2019	EA Electronic Arts Inc.	Electronic Arts Inc.	Buy	+3,000	+2.5%	$11.97M	122,400
Q3 2019	ECL Ecolab Inc.	Ecolab Inc.	Buy	+14,000	+4.9%	$58.98M	297,800
Q3 2019	EFX Equifax, Inc.	Equifax, Inc.	Buy	+26,000	+44.4%	$11.89M	84,500
Q3 2019	FDS FactSet Research Systems Inc.	FactSet Research Systems Inc.	Buy	+270	+0.2%	$28.30M	116,490