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MARKEL CORP
MARKEL CORP. Institutional holdings reported to the SEC.

Institutional Holders (2016Q2)
Portfolio Summary: 442 Institutional holders with a total value of $10,198,272,167.
#
Manager Name
Shares
Value ($)
%
Options
Notes
51 ROYCE & ASSOCIATES LP 35,800 34,110,000 0.33%
52 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 35,565 33,887,000 0.33%
53 VAUGHAN NELSON INVESTMENT MANAGEMENT, L.P. 35,425 33,752,000 0.33%
54 CALIFORNIA PUBLIC EMPLOYEES RETIREMENT SYSTEM 33,016 31,457,000 0.31%
55 Greenbrier Partners Capital Management, LLC 32,285 30,761,000 0.30%
56 PARAMETRIC PORTFOLIO ASSOCIATES LLC 29,942 28,528,000 0.28%
57 Epoch Investment Partners, Inc. 29,830 28,422,000 0.28%
58 CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 29,792 28,385,000 0.28%
59 Clarkston Capital Partners, LLC 29,334 27,949,000 0.27%
60 THOMPSON SIEGEL & WALMSLEY LLC 27,144 25,862,000 0.25%
61 GIVERNY CAPITAL INC. 26,642 25,384,000 0.25%
62 ROYAL BANK OF CANADA 25,933 24,708,000 0.24%
63 Sentry Investments Corp. 25,200 24,010,000 0.24%
64 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 24,902 23,727,000 0.23%
65 QUALCOMM INC/DE 24,600 23,438,000 0.23%
66 Horizon Kinetics LLC 22,634 21,565,000 0.21%
67 JUPITER ASSET MANAGEMENT LTD 22,560 21,495,000 0.21%
68 Lafayette Investments, Inc. 22,369 21,313,000 0.21%
69 Mizuho Trust & Banking Co., Ltd. 21,149 20,150,000 0.20%
70 STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 19,599 18,673,000 0.18%
71 FRANKLIN RESOURCES INC 19,437 18,519,000 0.18%
72 Invesco Ltd. 19,200 18,294,000 0.18%
73 Stack Financial Management, Inc 18,720 17,836,000 0.17%
74 COMMUNITY TRUST & INVESTMENT CO 18,642 17,762,000 0.17%
75 Robeco Institutional Asset Management B.V. 18,320 17,455,000 0.17%
76 SUSQUEHANNA INTERNATIONAL GROUP, LLP 18,294 17,430,000 0.17%
77 SUSQUEHANNA INTERNATIONAL GROUP, LLP 18,200 17,341,000 0.17% Put
78 CREDIT SUISSE AG/ 17,694 16,858,000 0.17%
79 BlackRock Japan Co. Ltd 17,682 16,847,000 0.17%
80 HUTCHINSON CAPITAL MANAGEMENT/CA 17,581 16,751,000 0.16%
81 MARATHON ASSET MANAGEMENT LLP 17,576 16,741,000 0.16%
82 BlackRock Finance, Inc. 17,333 16,514,000 0.16%
83 Mraz, Amerine & Associates, Inc. 17,134 16,325,000 0.16%
84 DEUTSCHE BANK AG\ 17,023 16,217,000 0.16%
85 BLACKROCK ADVISORS LLC 16,731 15,941,000 0.16%
86 CITADEL ADVISORS LLC 16,320 15,549,000 0.15%
87 JACOBS LEVY EQUITY MANAGEMENT, INC 16,315 15,545,000 0.15%
88 Motley Fool Asset Management LLC 16,300 15,530,000 0.15%
89 IRONBRIDGE CAPITAL MANAGEMENT LP 16,092 15,332,000 0.15%
90 MORGAN STANLEY 15,984 15,229,000 0.15%
91 FRONTIER INVESTMENT MGMT CO 15,571 14,765,000 0.14%
92 D. E. Shaw & Co., Inc. 15,200 14,482,000 0.14% Call
93 HERMES INVESTMENT MANAGEMENT LTD 15,132 14,417,000 0.14%
94 WESTWOOD HOLDINGS GROUP INC 15,051 14,340,000 0.14%
95 TEACHERS ADVISORS, LLC 15,011 14,302,000 0.14%
96 WEDGE CAPITAL MANAGEMENT L L P/NC 14,555 13,868,000 0.14%
97 KIRR MARBACH & CO LLC /IN/ 14,093 13,428,000 0.13%
98 JAG CAPITAL MANAGEMENT, LLC 14,962 13,050,000 0.13%
99 Sather Financial Group Inc 13,488 12,851,000 0.13%
100 QS Investors, LLC 13,461 12,825,000 0.13%
Page 2 of 9

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.