Thomas Gayner - Markel Asset Management
| History | Stock | Activity ▲ | Share change | % change to portfolio |
| Q4 2008 | ≡ | XL-OLD - XL Group Ltd. | Sell 100.00% | 249,230 | 0.29 | ≡ | CINF - Cincinnati Financial | Sell 100.00% | 210,906 | 0.39 | ≡ | MMC - Marsh & McLennan | Sell 100.00% | 898,776 | 1.86 | ≡ | LFG-OLD2 - LandAmerica Financial Group | Sell 100.00% | 1,382,700 | 2.19 |
| Q3 2008 | ≡ | NWS - News Corp. CL B | Reduce 67.34% | 114,000 | 0.08 | ≡ | FBR - Friedman Billings Ramsey Group | Reduce 64.10% | 250,000 | 0.04 | ≡ | CORS-OLD2 - Corus Bankshares | Reduce 50.76% | 100,000 | 0.03 | ≡ | AFL - AFLAC Inc. | Reduce 48.78% | 200,000 | 0.38 | ≡ | ALD - Allied Capital Corp. | Reduce 42.78% | 100,400 | 0.07 | ≡ | SPGI - S&P Global Inc. | Reduce 35.45% | 120,800 | 0.25 | ≡ | BK - Bank of New York Mellon Corp. | Reduce 30.82% | 91,697 | 0.20 | ≡ | CINF - Cincinnati Financial | Reduce 29.91% | 90,000 | 0.17 | ≡ | XL-OLD - XL Group Ltd. | Reduce 28.63% | 100,000 | 0.12 | ≡ | WTM - White Mountains Insurance | Reduce 15.22% | 18,000 | 0.55 | ≡ | MMC - Marsh & McLennan | Reduce 10.07% | 100,630 | 0.21 | ≡ | MSFT - Microsoft Corp. | Reduce 3.62% | 300 | 0.00 | ≡ | YUM - Yum! Brands Inc. | Reduce 0.41% | 100 | 0.00 | ≡ | RLI - RLI Corp. | Reduce 0.24% | 3,002 | 0.01 | ≡ | AXP - American Express | Reduce 0.02% | 65 | 0.00 | ≡ | DEO - Diageo ADR | Reduce 0.01% | 166 | 0.00 | ≡ | VLY - Valley National Bancorp | Sell 100.00% | 29,641 | 0.03 | ≡ | BP - BP plc | Sell 100.00% | 11,548 | 0.05 | ≡ | MIG - Meadowbrook Insurance Group Inc. | Sell 100.00% | 130,000 | 0.05 | ≡ | INBVF - Inbev NV | Sell 100.00% | 20,000 | 0.09 | ≡ | C - Citigroup Inc. | Sell 100.00% | 20,550 | 0.23 |
| Q2 2008 | ≡ | C - Citigroup Inc. | Reduce 84.84% | 115,041 | 1.29 | ≡ | VLY - Valley National Bancorp | Reduce 76.59% | 96,966 | 0.10 | ≡ | MIG - Meadowbrook Insurance Group Inc. | Reduce 55.37% | 161,300 | 0.06 | ≡ | FBR - Friedman Billings Ramsey Group | Reduce 43.48% | 300,000 | 0.03 | ≡ | NWS - News Corp. CL B | Reduce 41.75% | 121,350 | 0.12 | ≡ | AFL - AFLAC Inc. | Reduce 39.19% | 264,240 | 0.55 | ≡ | ALD - Allied Capital Corp. | Reduce 38.29% | 145,616 | 0.13 | ≡ | CORS-OLD2 - Corus Bankshares | Reduce 37.85% | 120,000 | 0.03 | ≡ | CINF - Cincinnati Financial | Reduce 31.02% | 135,330 | 0.22 | ≡ | SPGI - S&P Global Inc. | Reduce 26.04% | 120,000 | 0.32 | ≡ | XL-OLD - XL Group Ltd. | Reduce 25.66% | 120,566 | 0.16 | ≡ | BK - Bank of New York Mellon Corp. | Reduce 24.20% | 94,996 | 0.24 | ≡ | MMC - Marsh & McLennan | Reduce 11.52% | 130,150 | 0.23 | ≡ | WPC - WP Carey | Reduce 9.42% | 89,400 | 0.17 | ≡ | WTM - White Mountains Insurance | Reduce 9.21% | 12,000 | 0.34 | ≡ | MSFT - Microsoft Corp. | Reduce 5.69% | 500 | 0.00 | ≡ | YUM - Yum! Brands Inc. | Reduce 2.02% | 500 | 0.00 | ≡ | CMCSA - Comcast Corp. | Reduce 1.44% | 25,900 | 0.02 | ≡ | BIP - Brookfield Infrastructure Partners | Reduce 1.10% | 1,011 | 0.00 | ≡ | RLI - RLI Corp. | Reduce 0.96% | 12,144 | 0.02 | ≡ | BAC - Bank of America Corp. | Reduce 0.65% | 4,685 | 0.01 | ≡ | IGT - International Game Technology | Reduce 0.61% | 6,900 | 0.01 | ≡ | HD - Home Depot | Reduce 0.56% | 5,697 | 0.01 | ≡ | BRK.A - Berkshire Hathaway CL A | Reduce 0.44% | 4 | 0.03 | ≡ | ITW - Illinois Tool Works | Reduce 0.41% | 1,000 | 0.00 | ≡ | KMX - CarMax Inc. | Reduce 0.41% | 22,000 | 0.02 | ≡ | DEO - Diageo ADR | Reduce 0.36% | 4,500 | 0.02 | ≡ | SYY - Sysco Corp. | Reduce 0.32% | 2,497 | 0.00 | ≡ | ITIC - Investors Title Co. | Reduce 0.26% | 600 | 0.00 | ≡ | ELME - ELME Communities | Reduce 0.22% | 900 | 0.00 | ≡ | FNF - Fidelity National Financial Inc. | Reduce 0.21% | 3,500 | 0.00 | ≡ | UPS - United Parcel Service | Reduce 0.19% | 1,297 | 0.01 | ≡ | GE - GE Aerospace | Reduce 0.07% | 324 | 0.00 | ≡ | WB-OLD - Wachovia Corp. | Sell 100.00% | 12,797 | 0.02 | ≡ | AIG - American International Group | Sell 100.00% | 2,148 | 0.10 | ≡ | ISCA-OLD - International Speedway | Sell 100.00% | 58,650 | 0.13 | ≡ | BUD - Anheuser-Busch InBev | Sell 100.00% | 1,553,704 | 4.07 |
| Q1 2008 | ≡ | ISCA-OLD - International Speedway | Reduce 65.22% | 110,000 | 0.24 | ≡ | MSFT - Microsoft Corp. | Reduce 55.13% | 10,800 | 0.01 | ≡ | WB-OLD - Wachovia Corp. | Reduce 38.48% | 8,006 | 0.01 | ≡ | FBR - Friedman Billings Ramsey Group | Reduce 28.66% | 277,200 | 0.02 | ≡ | CINF - Cincinnati Financial | Reduce 19.33% | 104,563 | 0.22 | ≡ | XL-OLD - XL Group Ltd. | Reduce 18.52% | 106,812 | 0.18 | ≡ | MIG - Meadowbrook Insurance Group Inc. | Reduce 17.62% | 62,300 | 0.03 | ≡ | AFL - AFLAC Inc. | Reduce 16.74% | 135,600 | 0.24 | ≡ | ALD - Allied Capital Corp. | Reduce 13.28% | 58,225 | 0.06 | ≡ | FRFHF - Fairfax Financial Holdings Ltd. | Reduce 12.52% | 40,000 | 0.63 | ≡ | C - Citigroup Inc. | Reduce 11.32% | 17,304 | 0.20 | ≡ | MMC - Marsh & McLennan | Reduce 11.03% | 140,038 | 0.19 | ≡ | WTM - White Mountains Insurance | Reduce 6.46% | 9,000 | 0.24 | ≡ | CORS-OLD2 - Corus Bankshares | Reduce 5.09% | 17,000 | 0.01 | ≡ | SPGI - S&P Global Inc. | Reduce 4.52% | 21,800 | 0.04 | ≡ | NWS - News Corp. CL B | Reduce 3.71% | 11,200 | 0.01 | ≡ | SPIR - Spire Global Inc. | Reduce 2.26% | 10,600 | 0.01 | ≡ | BAC - Bank of America Corp. | Reduce 1.87% | 13,600 | 0.03 | ≡ | ELME - ELME Communities | Reduce 1.77% | 7,300 | 0.01 | ≡ | SYY - Sysco Corp. | Reduce 1.67% | 13,244 | 0.02 | ≡ | HD - Home Depot | Reduce 1.58% | 16,463 | 0.03 | ≡ | UPS - United Parcel Service | Reduce 1.58% | 11,200 | 0.05 | ≡ | BUD - Anheuser-Busch InBev | Reduce 1.52% | 24,033 | 0.06 | ≡ | VLY - Valley National Bancorp | Reduce 1.46% | 1,876 | 0.00 | ≡ | FNF - Fidelity National Financial Inc. | Reduce 1.36% | 22,800 | 0.02 | ≡ | CMCSA - Comcast Corp. | Reduce 1.12% | 20,400 | 0.01 | ≡ | KMX - CarMax Inc. | Reduce 1.01% | 55,014 | 0.06 | ≡ | PCL - Plum Creek Timber Co. | Reduce 0.97% | 3,500 | 0.01 | ≡ | WPC - WP Carey | Reduce 0.69% | 6,600 | 0.01 | ≡ | GE - GE Aerospace | Reduce 0.65% | 2,992 | 0.05 | ≡ | AXP - American Express | Reduce 0.59% | 2,360 | 0.01 | ≡ | DEO - Diageo ADR | Reduce 0.40% | 5,122 | 0.02 | ≡ | BF.A - Brown-Forman Corp. CL A | Reduce 0.28% | 1,600 | 0.00 | ≡ | BK - Bank of New York Mellon Corp. | Reduce 0.26% | 1,037 | 0.00 | ≡ | RLI - RLI Corp. | Reduce 0.25% | 3,124 | 0.00 | ≡ | IBM - International Business Machines | Reduce 0.24% | 50 | 0.00 | ≡ | ADP - Automatic Data Processing Inc. | Reduce 0.20% | 600 | 0.00 | ≡ | BRK.B - Berkshire Hathaway CL B | Reduce 0.20% | 3,150 | 0.02 |