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Institutional Investment Manager
MARKEL GROUP INC.
MARKEL GROUP INC. (CIK: 0001096343) incorporated in Virginia, registered under Fire, Marine & Casualty Insurance, located at 4521 Highwoods Parkway, Glen Allen, VA. Institutional holdings reported to the SEC.

Institutional Holdings (2016Q3)
Portfolio Summary: 129 holdings with a total value of $3,879,477,000.
#
Name
Shares
Value ($)
%
Options
Notes
1 CARMAX 4,913,070 262,112,000 6.76%
2 BERKSHIRE HATHAWAY INC DEL 1,084 234,382,000 6.04%
3 BERKSHIRE HATHAWAY INC DEL 1,511,607 218,382,000 5.63%
4 BROOKFIELD ASSET MGMT INC 5,112,821 179,869,000 4.64%
5 WALGREENS BOOTS ALLIANCE INC 2,135,000 172,124,000 4.44%
6 DIAGEO P L C 1,310,800 152,105,000 3.92%
7 DISNEY WALT CO 1,617,200 150,173,000 3.87%
8 HOME DEPOT INC 920,000 118,386,000 3.05%
9 MARRIOTT INTL 1,472,269 99,128,000 2.56%
10 DEERE & CO 1,095,400 93,492,000 2.41%
11 UNITEDHEALTH GROUP INC 663,000 92,820,000 2.39%
12 EXXON MOBIL CORP 944,800 82,463,000 2.13%
13 RLI CORP COM 1,197,272 81,846,000 2.11%
14 UNILEVER PLC 1,527,600 72,408,000 1.87%
15 JOHNSON & JOHNSON 610,800 72,154,000 1.86%
16 VISA INC 870,800 72,015,000 1.86%
17 ARCHER DANIELS M 1,463,300 61,707,000 1.59%
18 WP CAREY INC COM 950,200 61,317,000 1.58%
19 GENERAL DYNAMICS CORP 387,000 60,047,000 1.55%
20 BLACKROCK INC 155,500 56,363,000 1.45%
21 SCHLUMBERGER LTD 662,500 52,099,000 1.34%
22 AUTOMATIC DATA PROCESSING IN 530,700 46,808,000 1.21%
23 NOVO-NORDISK A S 1,075,000 44,709,000 1.15%
24 BROWN FORMAN CORP 843,000 41,939,000 1.08%
25 MARSH & MCLENNAN COS INC 609,500 40,989,000 1.06%
26 MONSANTO CO NEW 396,700 40,543,000 1.05%
27 LOWES COS INC 540,000 38,993,000 1.01%
28 ALPHABET INC 49,031 38,111,000 0.98%
29 TRAVELERS COMPANIES INC 315,000 36,083,000 0.93%
30 3M CO 204,000 35,951,000 0.93%
31 COLFAX CORP 1,135,070 35,675,000 0.92%
32 SCHWAB CHARLES CORP 1,057,000 33,369,000 0.86%
33 MOODYS CORP 290,000 31,401,000 0.81%
34 HASBRO INC 364,000 28,876,000 0.74%
35 Oaktree Cap Grp Llc 675,500 28,641,000 0.74%
36 AMAZON COM INC 34,000 28,469,000 0.73%
37 ANTHEM INC 224,000 28,069,000 0.72%
38 ILLINOIS TOOL WKS INC 230,000 27,563,000 0.71%
39 FACTSET RESH SYS INC 164,000 26,584,000 0.69%
40 ORACLE CORP 638,000 25,061,000 0.65%
41 WATSCO INC 177,500 25,010,000 0.64%
42 AMERICAN EXPRESS CO 386,000 24,719,000 0.64%
43 CATERPILLAR INC 278,000 24,678,000 0.64%
44 TEXAS INSTRS INC 330,000 23,159,000 0.60%
45 NORFOLK SOUTHN CORP 229,500 22,275,000 0.57%
46 CVS HEALTH CORP 247,000 21,981,000 0.57%
47 DISCOVERY C 833,000 21,916,000 0.56%
48 ECOLAB INC 179,800 21,885,000 0.56%
49 INVESTORS TITLE CO NC COM 213,300 21,223,000 0.55%
50 ANALOG DEVICES INC 312,000 20,108,000 0.52%
Page 1 of 3

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0000950123-16-021248, filed 2016.11.04).

From 2023-01-03 onward, the SEC requires values to be reported in nearest dollars. Earlier filings reported values in thousands; therefore, positions shown as $0 in older filings may represent actual values between $0–$999.