Thomas Gayner - Markel Group Inc. 13F Activity & Position Changes (Q4 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 Dec 31, 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 Q4 2019, the filing reported:

New Buys - IAC/INTERACTIVECORP, O-I Glass, Inc.

Increases - Apple Inc., Analog Devices, Inc., American Tower Corporation (REI, Amazon.com, Inc., AutoNation, Inc., and 57 more

Reductions - DISCOVERY INC-C, Walgreens Boots Alliance, Inc.

Complete Exits - APOLLO ASSET MANAGEMENT INC

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

Showing 30 of 67 transactions.

Date	Symbol	Name	Type	Change Qty	% Change	Value	Remaining
Q4 2019	AAPL Apple Inc.	Apple Inc.	Buy	+2,850	+1.0%	$88.11M	300,035
Q4 2019	ADI Analog Devices, Inc.	Analog Devices, Inc.	Buy	+12,000	+1.4%	$101.70M	855,811
Q4 2019	AMT American Tower Corporation (REI	American Tower Corporation (REI	Buy	+3,100	+6.9%	$11.08M	48,200
Q4 2019	AMZN Amazon.com, Inc.	Amazon.com, Inc.	Buy	+675	+0.7%	$180.96M	97,932
Q4 2019	AN AutoNation, Inc.	AutoNation, Inc.	Buy	+400	+0.9%	$2.12M	43,610
Q4 2019	APOEUR APOLLO ASSET MANAGEMENT INC	APOLLO ASSET MANAGEMENT INC	Sell - Position Exit	-1,012,500	-100.0%	$0.00	-
Q4 2019	AXP American Express Company	American Express Company	Buy	+9,950	+2.1%	$59.91M	481,250
Q4 2019	BALL Ball Corporation	Ball Corporation	Buy	+11,000	+35.5%	$2.72M	42,000
Q4 2019	BAM Brookfield Asset Management Inc	Brookfield Asset Management Inc	Buy	+12,500	+0.2%	$334.93M	5,794,641
Q4 2019	BK The Bank of New York Mellon Cor	The Bank of New York Mellon Cor	Buy	+48,000	+23.3%	$12.78M	254,000
Q4 2019	BLK BlackRock, Inc.	BlackRock, Inc.	Buy	+2,800	+1.3%	$110.59M	220,000
Q4 2019	BRK-A Berkshire Hathaway Inc.	Berkshire Hathaway Inc.	Buy	+9	+0.8%	$375.25M	1,105
Q4 2019	BRK-B Berkshire Hathaway Inc. New	Berkshire Hathaway Inc. New	Buy	+1,200	+0.1%	$345.72M	1,526,357
Q4 2019	BX Blackstone Inc.	Blackstone Inc.	Buy	+17,000	+1.4%	$68.42M	1,223,000
Q4 2019	C Citigroup, Inc.	Citigroup, Inc.	Buy	+2,150	+11.8%	$1.62M	20,320
Q4 2019	CAT Caterpillar, Inc.	Caterpillar, Inc.	Buy	+6,000	+2.2%	$41.94M	284,000
Q4 2019	CCK Crown Holdings, Inc.	Crown Holdings, Inc.	Buy	+11,000	+10.9%	$8.12M	112,000
Q4 2019	CHH Choice Hotels International, In	Choice Hotels International, In	Buy	+16,000	+8.6%	$21.00M	203,000
Q4 2019	CVS CVS Health Corporation	CVS Health Corporation	Buy	+9,000	+2.8%	$24.66M	332,000
Q4 2019	DAL Delta Air Lines, Inc.	Delta Air Lines, Inc.	Buy	+55,000	+15.2%	$24.39M	417,000
Q4 2019	DHI D.R. Horton, Inc.	D.R. Horton, Inc.	Buy	+1,900	+6.5%	$1.65M	31,347
Q4 2019	DIS Walt Disney Company (The)	Walt Disney Company (The)	Buy	+11,480	+0.6%	$268.21M	1,854,430
Q4 2019	DISCKEUR DISCOVERY INC-C	DISCOVERY INC-C	Sell	-560,000	-82.7%	$3.57M	117,000
Q4 2019	DLTR Dollar Tree, Inc.	Dollar Tree, Inc.	Buy	+100	+0.1%	$11.58M	123,100
Q4 2019	ECL Ecolab Inc.	Ecolab Inc.	Buy	+8,500	+2.9%	$59.11M	306,300
Q4 2019	EFX Equifax, Inc.	Equifax, Inc.	Buy	+23,000	+27.2%	$15.06M	107,500
Q4 2019	FDS FactSet Research Systems Inc.	FactSet Research Systems Inc.	Buy	+70	+0.1%	$31.27M	116,560
Q4 2019	GOOG Alphabet Inc.	Alphabet Inc.	Buy	+2,320	+1.7%	$181.24M	135,558
Q4 2019	GS Goldman Sachs Group, Inc. (The)	Goldman Sachs Group, Inc. (The)	Buy	+7,710	+2.3%	$78.61M	341,900
Q4 2019	HCSG Healthcare Services Group, Inc.	Healthcare Services Group, Inc.	Buy	+177,000	+44.6%	$13.95M	573,500