WhaleCreep

Markel Group 13F holdings, Q3 2018

Investment holding companySEC filingsCompare with another fundHoldings as of 2018-09-30, filed 2018-11-02

Markel Group disclosed 131 US equity positions worth $5.9bn in its Q3 2018 13F filing. Its largest position is KMX at 6.2% of the reported book, followed by BRK/A and BRK/B. Versus Q2 2018 it opened 4 new positions, added to 51, reduced 1 and exited 6.

$5.9bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
131
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
6.2%
Largest position
The largest single position as a share of the reported equity book.
41.2%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
41
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 Q2 2018: 4 new, 51 added, 1 reduced, 6 exited

50 of 131
KMX CARMAX INCConsumer Cyclical6.2%$367m4.91m0.0%held
BRK/A BERKSHIRE HATHAWAY INC DEL–5.9%$351m1,0960.0%held
BRK/B BERKSHIRE HATHAWAY INC DEL–5.5%$325m1.52m+0.1%held
BROOKFIELD ASSET MGMT INC no ticker–4.3%$252m5.66m+0.8%added
DIS DISNEY WALT COCommunication Services3.5%$210m1.80m+1.7%added
MAR MARRIOTT INTL INC NEWConsumer Cyclical3.4%$202m1.53m+1.1%added
DEO DIAGEO PLCConsumer Defensive3.2%$191m1.35m0.0%held
HD HOME DEPOT INCConsumer Cyclical3.2%$191m920,0000.0%held
AMZN AMAZON COM INCConsumer Cyclical3.0%$179m89,320+2.2%added
UNH UNITEDHEALTH GROUP INCHealthcare3.0%$176m663,0000.0%held
DE DEERE & COIndustrials2.8%$165m1.10m0.0%held
WBA WALGREENS BOOTS ALLIANCE INC–2.6%$157m2.15m0.0%held
V VISA INCFinancial Services2.3%$139m924,400+0.4%held
GOOG ALPHABET INCCommunication Services2.3%$136m113,809+3.9%added
RLI RLI CORPFinancial Services1.6%$94.1m1.20m0.0%held
BLK BLACKROCK INCFinancial Services1.6%$92.1m195,500+1.9%added
JNJ JOHNSON & JOHNSONHealthcare1.4%$84.4m610,8000.0%held
UNILEVER PLC no ticker–1.4%$84.0m1.53m0.0%held
ADP AUTOMATIC DATA PROCESSING INTechnology1.3%$80.0m530,7000.0%held
GD GENERAL DYNAMICS CORPIndustrials1.3%$79.2m387,0000.0%held
ADM ARCHER DANIELS MIDLAND COConsumer Defensive1.2%$73.6m1.46m0.0%held
TXN TEXAS INSTRS INCTechnology1.1%$68.1m635,000+3.8%added
LOW LOWES COS INCConsumer Cyclical1.1%$65.4m570,0000.0%held
ELV ELEVANCE HEALTH INCHealthcare1.0%$61.4m224,0000.0%held
ADI ANALOG DEVICES INCTechnology1.0%$61.0m659,811+3.6%added
WSO WATSCO INCIndustrials0.9%$52.0m292,000+5.8%added
SCHW SCHWAB CHARLES CORPFinancial Services0.9%$52.0m1.06m0.0%held
NVO NOVO-NORDISK A SHealthcare0.9%$50.7m1.07m0.0%held
MRSH MARSH & MCLENNAN COS INCFinancial Services0.9%$50.4m609,5000.0%held
MSFT MICROSOFT CORPTechnology0.7%$44.3m387,000+7.2%added
MMM 3M COIndustrials0.7%$43.0m204,0000.0%held
BF/A BROWN FORMAN CORP–0.7%$42.8m843,0000.0%held
CAT CATERPILLAR INCIndustrials0.7%$42.4m278,0000.0%held
BXUSD BLACKSTONE GROUP L P–0.7%$42.4m1.11m+4.0%added
OAK OAKTREE CAP GROUP LLC–0.7%$42.2m1.02m+1.6%added
ECL ECOLAB INCBasic Materials0.7%$42.2m269,100+3.2%added
NSC NORFOLK SOUTHERN CORPIndustrials0.7%$41.4m229,5000.0%held
AXP AMERICAN EXPRESS COFinancial Services0.7%$41.1m386,0000.0%held
COLFAX CORP no ticker–0.7%$40.9m1.14m0.0%held
TRV TRAVELERS COMPANIES INCFinancial Services0.7%$40.9m315,0000.0%held
MA MASTERCARD INCFinancial Services0.7%$40.5m182,1000.0%held
HAS HASBRO INCConsumer Cyclical0.6%$38.3m364,0000.0%held
ITIC INVESTORS TITLE COFinancial Services0.6%$35.8m213,3000.0%held
BA BOEING COIndustrials0.6%$35.1m94,4000.0%held
AAPL APPLE INCTechnology0.6%$34.8m154,375+3.5%added
DISCKUSD DISCOVERY INC–0.6%$34.6m1.17m+0.2%held
TROW PRICE T ROWE GROUP INCFinancial Services0.6%$34.3m314,0000.0%held
KKR KKR & CO INCFinancial Services0.6%$33.8m1.24m–new
MCO MOODYS CORPFinancial Services0.6%$33.4m200,0000.0%held
APOLLO GLOBAL MGMT LLC no ticker–0.6%$33.4m967,500+4.6%added

Exited since Q2 2018

6 rows
WPC W P CAREY INC0.9%$46.5m
KKR & CO L P DEL no ticker0.5%$29.7m
COF CAPITAL ONE FINL CORP0.1%$6.9m
MAT MATTEL INC0.06%$3.4m
GT GOODYEAR TIRE & RUBR CO0.06%$3.1m
GE GENERAL ELECTRIC CO0.02%$1.3m

Sector mix

  • Unclassified28.7%
  • Consumer Cyclical19.7%
  • Financial Services15.2%
  • Industrials9.8%
  • Communication Services7.4%
  • Healthcare6.8%
  • Technology5.5%
  • Consumer Defensive5.5%
  • Basic Materials1.4%
  • Real Estate0.09%

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