Buy/Sell Activity

Thomas Gayner - Markel Asset Management

Stock Activity Share change % change to portfolio
Q1  2011
hist DST - DST Systems Inc. Buy 21,000 0.06
hist WSO - Watsco Inc. Buy 5,000 0.02
hist DIS - Walt Disney Co. Reduce 0.07% 995 0.00
hist SYY - Sysco Corp. Reduce 0.10% 796 0.00
hist FNF - Fidelity National Financial Inc. Reduce 0.10% 1,694 0.00
hist DEO - Diageo plc Reduce 0.16% 2,000 0.01
hist MCD - McDonald's Corp. Reduce 0.16% 299 0.00
hist WAG - Walgreen Co. Reduce 0.18% 400 0.00
hist GE - General Electric Reduce 0.27% 6,592 0.01
hist ACN - Accenture Reduce 0.33% 400 0.00
hist NVO - Novo Nordisk A S Reduce 0.43% 5,000 0.01
hist KO - Coca Cola Co. Reduce 0.46% 600 0.00
hist APD - Air Products & Chemicals Reduce 3.70% 200 0.00
hist FO - Fortune Brands Inc. Sell 100.00% 45,900 0.15
hist ABH - AbitibiBowater Inc. Sell 100.00% 85,392 0.11
Q4  2010
hist MSFT - Microsoft Corp. Add 103.92% 106,300 0.17
hist EOG - EOG Resources Add 102.05% 79,600 0.20
hist BUD - Anheuser-Busch InBev Add 98.51% 132,000 0.42
hist TEVA - Teva Pharmaceutical Industries Ltd. Add 35.87% 32,100 0.09
hist SCHW - Charles Schwab Add 9.09% 77,200 0.07
hist XOM - Exxon Mobil Corp. Add 8.64% 55,326 0.23
hist SLB - Schlumberger Ltd. Add 6.03% 4,000 0.02
hist WMT - Wal-Mart Stores Add 5.79% 54,000 0.16
hist BRK.A - Berkshire Hathaway CL A Add 5.02% 45 0.30
hist BK - Bank of New York Add 4.42% 10,000 0.02
hist ITW - Illinois Tool Works Add 4.08% 9,905 0.03
hist FII - Federated Investors Inc. Add 3.96% 9,000 0.01
hist INTC - Intel Corp. Add 3.95% 10,000 0.01
hist NOV - National Oilwell Varco Inc. Add 3.66% 3,000 0.01
hist MMM - 3M Co. Add 3.48% 5,200 0.03
hist ADP - Automatic Data Processing Inc. Add 3.40% 14,800 0.04
hist CAT - Caterpillar Inc. Add 0.82% 2,000 0.01
hist JNJ - Johnson & Johnson Add 0.77% 4,300 0.01
hist BRK.B - Berkshire Hathaway CL B Add 0.64% 10,007 0.04
hist KO - Coca Cola Co. Add 0.46% 600 0.00
hist WAG - Walgreen Co. Add 0.23% 500 0.00
hist EPD - Enterprise Products Partners LP Buy 499,600 0.58
hist ABH - AbitibiBowater Inc. Buy 85,392 0.11
hist CLX - Clorox Co. Buy 12,000 0.04
hist KMB - Kimberly-Clark Buy 12,200 0.04
hist WU - Western Union Co. Buy 40,000 0.04
hist V - Visa Inc. Buy 4,100 0.02
hist HD - Home Depot Reduce 0.04% 397 0.00
hist MCD - McDonald's Corp. Reduce 0.05% 99 0.00
hist NVO - Novo Nordisk A S Reduce 0.09% 1,000 0.00
hist UPS - United Parcel Service Reduce 0.09% 602 0.00
hist GD - General Dynamics Reduce 0.09% 342 0.00
hist PCL - Plum Creek Timber Co. Reduce 0.11% 400 0.00
hist DEO - Diageo plc Reduce 0.13% 1,592 0.01
hist LOW - Lowe's Cos. Reduce 0.13% 400 0.00