Buy/Sell Activity

Thomas Gayner - Markel Asset Management

Stock Activity Share change % change to portfolio
Q1  2010
hist UBSH - Union First Market Bankshares Corp. Buy 3,504,920 3.28
hist TEVA - Teva Pharmaceutical Industries Ltd. Buy 59,900 0.23
hist BUD - Anheuser-Busch InBev Buy 70,000 0.22
hist EOG - EOG Resources Buy 36,000 0.21
hist CLMT - Calumet Specialty Products Buy 25,700 0.03
hist APD - Air Products & Chemicals Buy 4,100 0.02
hist DIS - Walt Disney Co. Reduce 0.01% 194 0.00
hist GE - General Electric Reduce 0.01% 193 0.00
hist DEO - Diageo plc Reduce 0.02% 200 0.00
hist IGT - International Game Technology Reduce 0.02% 199 0.00
hist SYY - Sysco Corp. Reduce 0.03% 246 0.00
hist AXP - American Express Reduce 0.05% 199 0.00
hist UPS - United Parcel Service Reduce 0.07% 497 0.00
hist BRK.A - Berkshire Hathaway CL A Reduce 0.11% 1 0.01
hist MAR - Marriott Int'l. Reduce 0.18% 2,514 0.00
hist KMX - CarMax Inc. Reduce 0.26% 13,800 0.02
hist PCL - Plum Creek Timber Co. Reduce 0.28% 1,000 0.00
hist GD - General Dynamics Reduce 0.47% 1,861 0.01
hist INTC - Intel Corp. Reduce 0.47% 1,200 0.00
hist WTM - White Mountains Insurance Reduce 2.14% 2,000 0.04
hist CMCSA - Comcast Corp. Reduce 5.36% 2,900 0.00
hist MHP - McGraw-Hill Sell 100.00% 170,000 0.40
hist AFL - AFLAC Inc. Sell 100.00% 105,000 0.34
hist SAP - SAP AG Sell 100.00% 97,500 0.32
hist CME - CME Group Sell 100.00% 67,975 0.32
hist MAN - ManpowerGroup Sell 100.00% 80,000 0.31
hist SLG - SL Green Realty Corp. Sell 100.00% 45,500 0.16
Q4  2009
hist PAYX - Paychex Inc. Add 389.42% 40,500 0.09
hist MCD - McDonald's Corp. Add 296.77% 91,701 0.40
hist ITC - ITC Holdings Corp. Add 140.00% 60,200 0.22
hist PDCO - Patterson Cos. Inc. Add 124.50% 49,800 0.10
hist FO - Fortune Brands Inc. Add 77.82% 20,000 0.06
hist POOL - Pool Corp. Add 57.14% 20,000 0.03
hist COST - Costco Co. Add 34.13% 5,000 0.02
hist HCCI - Heritage-Crystal Clean Inc. Add 30.17% 7,000 0.00
hist LUK - Leucadia National Corp. Add 18.39% 65,000 0.11
hist XRAY - Dentsply International Add 16.45% 5,000 0.01
hist SLB - Schlumberger Ltd. Add 15.79% 9,000 0.04
hist XOM - Exxon Mobil Corp. Add 8.33% 32,000 0.15
hist SCHW - Charles Schwab Add 5.07% 25,600 0.03
hist LOW - Lowe's Cos. Add 3.16% 9,500 0.02
hist JNJ - Johnson & Johnson Add 1.86% 10,000 0.05
hist ADP - Automatic Data Processing Inc. Add 1.51% 4,700 0.01
hist PG - Procter & Gamble Add 1.15% 200 0.00
hist WMT - Wal-Mart Stores Add 0.66% 5,700 0.02
hist WPC - WP Carey Add 0.58% 5,000 0.01
hist ACN - Accenture Add 0.41% 500 0.00
hist MAR - Marriott Int'l. Add 0.24% 3,388 0.01
hist FII - Federated Investors Inc. Add 0.11% 200 0.00
hist EMR - Emerson Electric Add 0.06% 100 0.00