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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 (2016Q4)
Portfolio Summary: 133 holdings with a total value of $4,148,987,000.
#
Name
Shares
Value ($)
%
Options
Notes
1 CARMAX 4,913,070 316,353,000 7.62%
2 BERKSHIRE HATHAWAY INC DEL 1,084 264,627,000 6.38%
3 BERKSHIRE HATHAWAY INC DEL 1,511,607 246,362,000 5.94%
4 WALGREENS BOOTS ALLIANCE INC 2,135,000 176,693,000 4.26%
5 DISNEY WALT CO 1,646,200 171,567,000 4.14%
6 BROOKFIELD ASSET MGMT INC 5,148,821 169,962,000 4.10%
7 DIAGEO P L C 1,322,800 137,492,000 3.31%
8 MARRIOTT INTL 1,496,269 123,712,000 2.98%
9 HOME DEPOT INC 920,000 123,354,000 2.97%
10 DEERE & CO 1,095,400 112,870,000 2.72%
11 UNITEDHEALTH GROUP INC 663,000 106,107,000 2.56%
12 EXXON MOBIL CORP 944,800 85,278,000 2.06%
13 RLI CORP COM 1,197,272 75,584,000 1.82%
14 JOHNSON & JOHNSON 610,800 70,371,000 1.70%
15 VISA INC 882,300 68,837,000 1.66%
16 GENERAL DYNAMICS CORP 387,000 66,819,000 1.61%
17 ARCHER DANIELS M 1,463,300 66,800,000 1.61%
18 UNILEVER PLC 1,527,600 62,173,000 1.50%
19 BLACKROCK INC 161,500 61,457,000 1.48%
20 WP CAREY INC COM 950,200 56,147,000 1.35%
21 SCHLUMBERGER LTD 662,500 55,617,000 1.34%
22 AUTOMATIC DATA PROCESSING IN 530,700 54,545,000 1.31%
23 ALPHABET INC 61,031 47,105,000 1.14%
24 MONSANTO CO NEW 396,700 41,737,000 1.01%
25 SCHWAB CHARLES CORP 1,057,000 41,720,000 1.01%
26 MARSH & MCLENNAN COS INC 609,500 41,196,000 0.99%
27 COLFAX CORP 1,135,070 40,783,000 0.98%
28 BROWN FORMAN CORP 843,000 38,989,000 0.94%
29 TRAVELERS COMPANIES INC 315,000 38,562,000 0.93%
30 NOVO-NORDISK A S 1,075,000 38,549,000 0.93%
31 LOWES COS INC 540,000 38,404,000 0.93%
32 3M CO 204,000 36,428,000 0.88%
33 AMAZON COM INC 46,000 34,494,000 0.83%
34 INVESTORS TITLE CO NC COM 213,300 33,740,000 0.81%
35 ANTHEM INC 224,000 32,204,000 0.78%
36 TEXAS INSTRS INC 415,000 30,283,000 0.73%
37 AMERICAN EXPRESS CO 386,000 28,595,000 0.69%
38 ANALOG DEVICES INC 392,000 28,467,000 0.69%
39 HASBRO INC 364,000 28,316,000 0.68%
40 ILLINOIS TOOL WKS INC 230,000 28,166,000 0.68%
41 WATSCO INC 189,000 27,995,000 0.67%
42 MOODYS CORP 290,000 27,338,000 0.66%
43 FACTSET RESH SYS INC 164,000 26,803,000 0.65%
44 Oaktree Cap Grp Llc 695,500 26,081,000 0.63%
45 CATERPILLAR INC 278,000 25,782,000 0.62%
46 NORFOLK SOUTHN CORP 229,500 24,802,000 0.60%
47 ORACLE CORP 638,000 24,531,000 0.59%
48 DISCOVERY C 892,000 23,888,000 0.58%
49 PRICE T ROWE GROUP INC 314,000 23,632,000 0.57%
50 ECOLAB INC 191,800 22,483,000 0.54%
Page 1 of 3

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0000950123-17-001526, filed 2017.02.10).

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.