Thomas Gayner - Markel Asset Management
Holding/activity history for: American Express (AXP)
| Period | Shares | % of Portfolio | Activity | % Change to Portfolio | Reported Price |
| 2013   Q1 | 368,135 | 0.92 | Reduce 1.01% | 0.01 | $67.46 |
| 2012   Q4 | 371,898 | 0.89 | Reduce 0.53% | 0.00 | $57.48 |
| 2012   Q3 | 373,897 | 0.91 | Reduce 0.08% | 0.00 | $56.86 |
| 2012   Q2 | 374,196 | 1.00 | Reduce 0.90% | 0.01 | $58.21 |
| 2012   Q1 | 377,595 | 1.01 | Reduce 2.58% | 0.03 | $57.86 |
| 2011   Q4 | 387,595 | 0.96 | Reduce 0.17% | 0.00 | $47.17 |
| 2011   Q3 | 388,264 | 1.07 | Add 0.00% | 0.00 | $44.90 |
| 2011   Q2 | 388,263 | 1.07 | Reduce 2.22% | 0.02 | $51.70 |
| 2011   Q1 | 397,059 | 0.97 | Add 0.00% | 0.00 | $45.20 |
| 2010   Q4 | 397,058 | 0.95 | Reduce 0.27% | 0.00 | $42.92 |
| 2010   Q3 | 398,124 | 1.01 | Reduce 0.01% | 0.00 | $42.03 |
| 2010   Q2 | 398,173 | 1.08 | Add 0.00% | 0.00 | $39.70 |
| 2010   Q1 | 398,172 | 1.02 | Reduce 0.05% | 0.00 | $41.26 |
| 2009   Q4 | 398,371 | 1.14 | Add 0.00% | 0.00 | $40.52 |
| 2009   Q3 | 398,370 | 1.01 | Add 0.00% | 0.00 | $33.90 |
| 2009   Q2 | 398,369 | 0.84 | Reduce 0.12% | 0.00 | $23.24 |
| 2009   Q1 | 398,867 | 0.55 | Add 0.00% | 0.00 | $13.63 |
| 2008   Q4 | 398,865 | 0.66 | Reduce 0.50% | 0.00 | $18.55 |
| 2008   Q3 | 400,864 | 0.93 | Reduce 0.02% | 0.00 | $35.43 |
| 2008   Q2 | 400,929 | 1.00 | Add 0.00% | 0.00 | $37.67 |
| 2008   Q1 | 400,928 | 0.97 | Reduce 0.59% | 0.01 | $43.72 |
| 2007   Q4 | 403,288 | 1.07 | Add 5.39% | 0.05 | $52.02 |
| 2007   Q3 | 382,655 | 1.15 | Reduce 0.01% | 0.00 | $59.37 |
| 2007   Q2 | 382,699 | 1.21 | Add 2.95% | 0.03 | $61.18 |
| 2007   Q1 | 371,733 | 1.12 | Reduce 0.45% | 0.01 | $56.40 |
| 2006   Q4 | 373,400 | 1.20 | $60.67 |
