Buy/Sell Activity

Thomas Gayner - Markel Asset Management

Stock Activity Share change % change to portfolio
Q4  2010
hist FNF - Fidelity National Financial Inc. Reduce 0.13% 2,292 0.00
hist DIS - Walt Disney Co. Reduce 0.13% 2,000 0.00
hist SYY - Sysco Corp. Reduce 0.16% 1,297 0.00
hist MAR - Marriott Int'l. Reduce 0.21% 3,009 0.01
hist BAM - Brookfield Asset Management Inc. Reduce 0.23% 7,206 0.01
hist AXP - American Express Reduce 0.27% 1,066 0.00
hist IGT - International Game Technology Reduce 0.39% 4,499 0.00
hist KMX - CarMax Inc. Reduce 0.90% 47,153 0.08
hist APD - Air Products & Chemicals Reduce 3.57% 200 0.00
hist GE - General Electric Reduce 31.90% 1,160,709 1.19
hist FCE.A - Forest City Enterprises Inc. Reduce 41.14% 7,967 0.01
hist EPE - Enterprise GP Holdings LP Sell 100.00% 167,200 0.59
hist NSRGY - Nestle Sell 100.00% 100,100 0.32
hist PPD - Pre-Paid Legal Svcs. Sell 100.00% 15,000 0.06
hist CMCSA - Comcast Corp. Sell 100.00% 10,800 0.01
Q3  2010
hist MSFT - Microsoft Corp. Add 95.62% 50,000 0.07
hist TEVA - Teva Pharmaceutical Industries Ltd. Add 48.67% 29,300 0.09
hist XOM - Exxon Mobil Corp. Add 17.65% 96,052 0.36
hist SCHW - Charles Schwab Add 17.25% 124,900 0.10
hist BUD - Anheuser-Busch InBev Add 11.67% 14,000 0.05
hist MMM - 3M Co. Add 11.64% 15,600 0.08
hist LUK - Leucadia National Corp. Add 7.29% 40,000 0.06
hist ADP - Automatic Data Processing Inc. Add 6.57% 26,800 0.07
hist WMT - Wal-Mart Stores Add 5.60% 49,460 0.16
hist FII - Federated Investors Inc. Add 5.08% 11,000 0.01
hist CAT - Caterpillar Inc. Add 3.76% 8,900 0.04
hist FO - Fortune Brands Inc. Add 0.44% 200 0.00
hist INTC - Intel Corp. Add 0.18% 450 0.00
hist NSRGY - Nestle Buy 100,100 0.32
hist NOV - National Oilwell Varco Inc. Buy 82,000 0.22
hist AXP - American Express Reduce 0.01% 49 0.00
hist RLI - RLI Corp. Reduce 0.02% 300 0.00
hist ITW - Illinois Tool Works Reduce 0.04% 94 0.00
hist IGT - International Game Technology Reduce 0.04% 498 0.00
hist SYY - Sysco Corp. Reduce 0.05% 396 0.00
hist HD - Home Depot Reduce 0.06% 546 0.00
hist PCL - Plum Creek Timber Co. Reduce 0.06% 200 0.00
hist GD - General Dynamics Reduce 0.06% 247 0.00
hist JNJ - Johnson & Johnson Reduce 0.07% 400 0.00
hist DEO - Diageo plc Reduce 0.07% 900 0.00
hist MCD - McDonald's Corp. Reduce 0.08% 150 0.00
hist BRK.B - Berkshire Hathaway CL B Reduce 0.09% 1,400 0.01
hist KMX - CarMax Inc. Reduce 0.09% 4,700 0.01
hist UPS - United Parcel Service Reduce 0.09% 642 0.00
hist BAM - Brookfield Asset Management Inc. Reduce 0.09% 2,747 0.00
hist WAG - Walgreen Co. Reduce 0.09% 200 0.00
hist DIS - Walt Disney Co. Reduce 0.11% 1,700 0.00
hist MAR - Marriott Int'l. Reduce 0.13% 1,860 0.00
hist GE - General Electric Reduce 0.15% 5,363 0.01
hist SLB - Schlumberger Ltd. Reduce 0.15% 100 0.00
hist LOW - Lowe's Cos. Reduce 0.16% 500 0.00
hist FNF - Fidelity National Financial Inc. Reduce 0.18% 3,243 0.00
hist PDCO - Patterson Cos. Inc. Reduce 0.22% 300 0.00
hist IBM - International Bus. Machines Reduce 0.24% 50 0.00
hist WPC - WP Carey Reduce 0.24% 2,300 0.00
hist NVO - Novo Nordisk A S Reduce 0.28% 3,250 0.00
hist EMR - Emerson Electric Reduce 0.57% 1,000 0.00
hist COST - Costco Co. Reduce 0.86% 350 0.00
hist ACN - Accenture Reduce 1.06% 1,300 0.00
hist CMCSA - Comcast Corp. Reduce 6.49% 750 0.00
hist FCE.A - Forest City Enterprises Inc. Reduce 97.70% 824,400 0.43
Q2  2010
hist HCCI - Heritage-Crystal Clean Inc. Add 188.90% 156,600 0.09
hist BUD - Anheuser-Busch InBev Add 71.43% 50,000 0.16
hist APD - Air Products & Chemicals Add 36.59% 1,500 0.01
hist KO - Coca Cola Co. Add 18.76% 20,600 0.03
hist SCHW - Charles Schwab Add 17.58% 108,300 0.10
hist COST - Costco Co. Add 17.22% 6,000 0.02
hist FII - Federated Investors Inc. Add 16.27% 30,300 0.04
hist PDCO - Patterson Cos. Inc. Add 12.07% 15,000 0.03
hist ADP - Automatic Data Processing Inc. Add 9.94% 36,900 0.10
hist ITC - ITC Holdings Corp. Add 9.48% 45,000 0.05
hist XOM - Exxon Mobil Corp. Add 9.04% 45,101 0.18
hist EOG - EOG Resources Add 8.33% 6,000 0.02
hist PEP - PepsiCo Inc. Add 8.06% 5,000 0.02
hist LUK - Leucadia National Corp. Add 7.87% 40,000 0.05
hist MMM - 3M Co. Add 7.54% 9,400 0.05
hist MCD - McDonald's Corp. Add 5.47% 10,001 0.05
hist BK - Bank of New York Add 4.77% 10,300 0.02
hist WPC - WP Carey Add 2.73% 25,700 0.05
hist Y - Alleghany Corp. Add 1.99% 83 0.00
hist WMT - Wal-Mart Stores Add 1.73% 15,004 0.05
hist CPB - Campbell Soup Add 1.36% 1,000 0.00
hist SLB - Schlumberger Ltd. Add 0.61% 400 0.00
hist TEVA - Teva Pharmaceutical Industries Ltd. Add 0.50% 300 0.00
hist ABT - Abbott Labs Add 0.43% 300 0.00
hist MSFT - Microsoft Corp. Add 0.19% 100 0.00
hist ACN - Accenture Add 0.16% 200 0.00
hist FNF - Fidelity National Financial Inc. Add 0.13% 2,308 0.00
hist UPS - United Parcel Service Add 0.07% 503 0.00
hist CAT - Caterpillar Inc. Add 0.04% 100 0.00
hist ITW - Illinois Tool Works Add 0.00% 4 0.00
hist SYY - Sysco Corp. Add 0.00% 3 0.00
hist AXP - American Express Add 0.00% 1 0.00
hist GE - General Electric Add 0.00% 5 0.00
hist IGT - International Game Technology Add 0.00% 1 0.00
hist PPD - Pre-Paid Legal Svcs. Buy 15,000 0.05
hist BRK.B - Berkshire Hathaway CL B Reduce 0.01% 160 0.00
hist DEO - Diageo plc Reduce 0.03% 389 0.00
hist BF.A - BROWN FORMAN Inc. A Reduce 0.04% 100 0.00
hist JNJ - Johnson & Johnson Reduce 0.04% 200 0.00