WhaleCreep

Markel Group 13F holdings, Q4 2011

Investment holding companySEC filingsCompare with another fundHoldings as of 2011-12-31, filed 2012-02-13

Markel Group disclosed 89 US equity positions worth $884.9m in its Q4 2011 13F filing. Its largest position is Fairfax Financial Holdings Ltd at 13.0% of the reported book, followed by UNION FIRST MKT BANKSH CP and RLI. Versus Q3 2011 it opened 6 new positions, added to 14, reduced 9 and exited 3.

$885m
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
89
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
13.0%
Largest position
The largest single position as a share of the reported equity book.
46.3%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
27
Effective positions
1 / HHI of portfolio weights: the number of equal-weight positions the book behaves like.
75
Quarters on file since Q4 2007
Quarters for which this manager's 13F holdings are on record.

Holdings

Against Q3 2011: 6 new, 14 added, 9 reduced, 3 exited

50 of 89
Fairfax Financial Holdings Ltd no ticker–13.0%$115m267,1040.0%held
UNION FIRST MKT BANKSH CP no ticker–5.3%$46.6m3.50m0.0%held
RLI RLI CORPFinancial Services5.1%$44.8m615,0960.0%held
BRK/B BERKSHIRE HATHAWAY INC DEL–4.2%$37.0m485,1000.0%held
BRK/A BERKSHIRE HATHAWAY INC DEL–3.6%$31.6m2750.0%held
DEO DIAGEO PLCConsumer Defensive3.2%$28.7m328,5000.0%held
ADP AUTOMATIC DATA PROCESSING INTechnology3.1%$27.1m501,800+2.8%added
FNF FIDELITY NATIONAL FINANCIALFinancial Services3.0%$26.9m1.69m−0.6%reduced
NVO NOVO-NORDISK A SHealthcare3.0%$26.4m229,200−0.1%held
GD GENERAL DYNAMICS CORPIndustrials2.9%$25.8m388,188−0.2%held
BUD ANHEUSER BUSCH INBEV SA NVConsumer Defensive2.8%$24.7m404,801−0.2%held
GE GENERAL ELECTRIC COIndustrials2.8%$24.4m1.36m0.0%held
BF/A BROWN FORMAN CORP–2.5%$22.5m283,7600.0%held
CAT CATERPILLAR INCIndustrials2.5%$22.4m246,734−0.2%held
MCD MCDONALDS CORPConsumer Cyclical2.2%$19.3m191,907+0.2%held
MSFT MICROSOFT CORPTechnology2.2%$19.1m734,690+63%added
TEVA TEVA PHARMACEUTICAL INDS LTDHealthcare2.1%$18.9m468,100+38%added
JNJ JOHNSON & JOHNSONHealthcare2.1%$18.4m280,0000.0%held
EXMOC EXXON MOBIL CORP–1.9%$16.9m199,8000.0%held
LEUCADIA NATL CORP no ticker–1.6%$14.3m627,766+6.7%added
ITC HLDGS CORP no ticker–1.5%$13.1m173,2000.0%held
BROOKFIELD ASSET MGMT INC no ticker–1.3%$11.8m430,0000.0%held
ITW ILLINOIS TOOL WKS INCIndustrials1.3%$11.7m249,641−0.2%held
SCHW SCHWAB CHARLES CORPFinancial Services1.2%$10.7m949,700−1.2%reduced
PM PHILIP MORRIS INTL INCConsumer Defensive1.0%$9.2m116,7000.0%held
NUSTAR GP HOLDINGS LLC no ticker–1.0%$8.6m258,500−54%reduced
V VISA INCFinancial Services1.0%$8.5m84,100+154%added
BRO BROWN & BROWN INCFinancial Services0.9%$8.3m365,6280.0%held
ITIC INVESTORS TITLE COFinancial Services0.9%$8.2m228,8500.0%held
EMR Emerson Electric Inc.Industrials0.9%$8.1m174,300−0.2%held
LII LENNOX INTL INCIndustrials0.9%$7.8m230,500+109%added
DIS DISNEY WALT COCommunication Services0.8%$7.5m200,0000.0%held
WALGREEN CO no ticker–0.8%$7.4m222,360+0.2%held
KMX CARMAX INCConsumer Cyclical0.8%$7.2m235,0000.0%held
PEP PEPSICO INCConsumer Defensive0.8%$7.0m105,0000.0%held
WMT WALMART INCConsumer Defensive0.8%$7.0m116,4250.0%held
NOVEUR NATIONAL OILWELL VARCO INC–0.7%$5.8m85,0000.0%held
BF/B BROWN FORMAN CORP–0.6%$5.7m70,9150.0%held
NTRS NORTHERN TR CORPFinancial Services0.6%$5.6m140,0000.0%held
PLUM CREEK TIMBER CO INC no ticker–0.6%$5.5m150,0000.0%held
COF CAPITAL ONE FINL CORPFinancial Services0.6%$5.4m128,300+1066%added
MAR MARRIOTT INTL INC NEWConsumer Cyclical0.6%$5.3m181,9650.0%held
UPS UNITED PARCEL SERVICE INCIndustrials0.6%$5.1m69,5200.0%held
ABT ABBOTT LABORATORIESHealthcare0.6%$5.1m90,000−31%reduced
WU WESTERN UN COFinancial Services0.6%$5.0m272,000+27%added
NKE NIKE INCConsumer Cyclical0.5%$4.8m50,2000.0%held
SLB SLB LIMITEDEnergy0.5%$4.7m69,400−0.9%reduced
KO COCA COLA COConsumer Defensive0.5%$4.5m64,0000.0%held
PAYX PAYCHEX INCTechnology0.5%$4.4m145,900+187%added
PDCOEUR PATTERSON COS INC–0.5%$4.3m146,6000.0%held

Exited since Q3 2011

3 rows
CPB THE CAMPBELLS COMPANY0.3%$2.4m
LEN LENNAR CORP0.1%$772k
ENCANA CORP no ticker0.07%$538k

Sector mix

  • Unclassified41.8%
  • Financial Services14.9%
  • Industrials12.8%
  • Consumer Defensive10.3%
  • Healthcare7.8%
  • Technology6.1%
  • Consumer Cyclical4.5%
  • Communication Services0.8%
  • Energy0.6%
  • Basic Materials0.4%
  • Real Estate0.04%

Book over time

Every quarter on file (75)
QuarterPositionsEquity book
Q2 2026130$13.1bn
Q1 2026129$11.9bn
Q4 2025128$12.5bn
Q3 2025129$12.3bn
Q2 2025137$11.8bn
Q1 2025135$11.3bn
Q4 2024132$11.3bn
Q3 2024132$11.1bn
Q2 2024134$10.2bn
Q1 2024132$10.1bn
Q4 2023128$9.2bn
Q3 2023133$8.3bn
Q2 2023131$8.4bn
Q1 2023131$7.9bn
Q4 2022134$7.5bn
Q3 2022131$6.8bn
Q2 2022131$7.0bn
Q1 2022126$8.4bn
Q4 2021120$8.7bn
Q3 2021125$7.9bn
Q2 2021125$7.9bn
Q1 2021118$7.2bn
Q4 2020115$6.7bn
Q3 2020113$5.9bn
Q2 2020113$5.4bn
Q1 2020130$5.3bn
Q4 2019134$7.2bn
Q3 2019132$6.6bn
Q2 2019137$6.5bn
Q1 2019133$6.0bn
Q4 2018132$5.2bn
Q3 2018131$5.9bn
Q2 2018133$5.4bn
Q1 2018137$5.3bn
Q4 2017138$5.3bn
Q3 2017139$5.0bn
Q2 2017138$4.7bn
Q1 2017133$4.4bn
Q4 2016133$4.1bn
Q3 2016129$3.9bn
Q2 2016130$3.8bn
Q1 2016129$3.7bn
Q4 2015130$3.7bn
Q3 2015121$3.8bn
Q2 2015112$4.0bn
Q1 2015107$4.0bn
Q4 2014107$3.7bn
Q3 2014104$3.5bn
Q2 2014105$3.5bn
Q1 2014105$3.3bn
Q4 2013109$3.2bn
Q3 2013107$2.9bn
Q2 2013107$2.8bn
Q1 201395$1.3bn
Q4 201296$1.2bn
Q3 201290$1.1bn
Q2 201293$1.0bn
Q1 201293$1.0bn
Q4 201189$885m
Q3 201186$763m
Q2 201181$855m
Q1 201180$831m
Q4 201081$828m
Q3 201079$726m
Q2 201077$682m
Q1 201076$750m
Q4 200976$631m
Q3 200975$598m
Q2 200973$494m
Q1 200973$443m
Q4 200874$527m
Q3 200879$646m
Q2 200880$612m
Q1 200877$675m
Q4 200772$748m

Where Markel Group was early

26 rows
EMR Emerson ElectricQ1 20081 of 1490.7%1.3%35Exited by Q4 2016+5.9%
DIS DISNEY WALT COQ1 20086 of 2530.6%5.0%74Held at last filing, Q2 2026+207%
PM PHILIP MORRIS INTL INCQ1 200812 of 1690.9%1.0%74Held at last filing, Q2 2026+258%
SLB SchlumbergerQ3 200812 of 2110.2%1.4%37Exited by Q4 2017−11%
MCD McDonaldsQ2 20094 of 1920.3%2.2%26Exited by Q4 2015+71%
EXMOC EXXON MOBIL CORPQ3 20096 of 1932.3%2.8%37Held at last filing, Q2 2026+99%
NVO NOVO-NORDISK A SQ4 20092 of 1511.7%3.5%67Held at last filing, Q2 2026+651%
BUD ANHEUSER BUSCH INBEV SA/NVQ1 20101 of 1290.5%3.1%35Exited by Q3 2025+36%
BRK/B BERKSHIRE HATHAWAY INC DELQ1 20103 of 1804.2%7.2%66Held at last filing, Q2 2026+516%
TEVA Teva PharmaceuticalsQ2 201014 of 1820.5%2.4%18Exited by Q4 2014+3.4%
V VISA INCQ4 201022 of 2840.04%3.4%63Held at last filing, Q2 2026+1850%
WSO WATSCO INCQ1 20113 of 1140.04%2.7%53Held at last filing, Q2 2026+498%
LII Lennox InternationalQ3 20112 of 1190.4%1.2%6Exited by Q1 2013+104%
ECL ECOLAB INCQ3 201112 of 1380.2%1.1%60Held at last filing, Q2 2026+470%
ADM ARCHER DANIELS MIDLAND COQ1 20122 of 1361.2%3.4%58Held at last filing, Q2 2026+141%
WPC W.P. CareyQ4 20121 of 960.2%2.3%23Exited by Q3 2018+27%
UNH UNITEDHEALTH GROUP INCQ1 201312 of 2991.7%3.0%39Exited by Q2 2026+373%
BLK BLACKROCK INCQ2 20134 of 1550.08%2.4%53Held at last filing, Q2 2026+274%
CPRT Copart IncQ3 201311 of 1780.01%1.2%12Exited by Q3 2016+54%
DE DEERE & COQ3 20142 of 1851.2%4.3%48Held at last filing, Q2 2026+674%
WBA Walgreens Boots Alliance IncQ4 20149 of 2064.4%4.9%22Exited by Q2 2020−40%
ADI ANALOG DEVICES INCQ1 20169 of 2020.09%3.0%42Held at last filing, Q2 2026+571%
TXN TEXAS INSTRS INCQ1 201612 of 2020.09%1.9%42Held at last filing, Q2 2026+419%
BX BLACKSTONE INCQ3 201913 of 2060.9%1.9%28Held at last filing, Q2 2026+141%
BAM BROOKFIELD ASSET MANAGMT LTDQ4 20225 of 970.8%1.0%15Held at last filing, Q2 2026+56%
BN BROOKFIELD CORPQ4 20226 of 1153.7%4.9%15Held at last filing, Q2 2026+103%

Concentration and tenure

7.0%
Median largest position, all quarters
The largest single position as a share of the reported equity book.
42.9%
Median top 10 weight, all quarters
The ten largest positions together, as a share of the reported equity book.
Concentrated
Style, by median largest position
8
Median completed holding, quarters