WhaleCreep

Markel Group 13F holdings, Q4 2019

Investment holding companySEC filingsCompare with another fundHoldings as of 2019-12-31, filed 2020-02-07

Markel Group disclosed 134 US equity positions worth $7.2bn in its Q4 2019 13F filing. Its largest position is KMX at 6.0% of the reported book, followed by BRK/A and BRK/B. Versus Q3 2019 it opened 3 new positions, added to 59, reduced 2 and exited 1.

$7.2bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
134
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
6.0%
Largest position
The largest single position as a share of the reported equity book.
38.7%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
45
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 2019: 3 new, 59 added, 2 reduced, 1 exited

50 of 134
KMX CARMAX INCConsumer Cyclical6.0%$431m4.91m0.0%held
BRK/A BERKSHIRE HATHAWAY INC DEL–5.2%$375m1,105+0.8%added
BRK/B BERKSHIRE HATHAWAY INC DEL–4.8%$346m1.53m+0.1%held
BROOKFIELD ASSET MGMT INC no ticker–4.7%$335m5.79m+0.2%held
DIS DISNEY WALT COCommunication Services3.7%$268m1.85m+0.6%added
MAR MARRIOTT INTL INC NEWConsumer Cyclical3.3%$240m1.59m+0.7%added
DEO DIAGEO PLCConsumer Defensive3.2%$227m1.35m0.0%held
HD HOME DEPOT INCConsumer Cyclical2.8%$201m920,0000.0%held
GOOG ALPHABET INCCommunication Services2.5%$181m135,558+1.7%added
AMZN AMAZON COM INCConsumer Cyclical2.5%$181m97,932+0.7%added
V VISA INCFinancial Services2.5%$179m955,150+0.6%added
UNH UNITEDHEALTH GROUP INCHealthcare2.4%$176m599,0000.0%held
DE DEERE & COIndustrials2.4%$174m1.01m0.0%held
WBA WALGREENS BOOTS ALLIANCE INC–1.7%$121m2.06m−4.3%reduced
BLK BLACKROCK INCFinancial Services1.5%$111m220,000+1.3%added
RLI RLI CORPFinancial Services1.5%$108m1.20m0.0%held
ADI ANALOG DEVICES INCTechnology1.4%$102m855,811+1.4%added
TXN TEXAS INSTRS INCTechnology1.3%$91.7m714,500+1.6%added
ADP AUTOMATIC DATA PROCESSING INTechnology1.3%$90.5m530,7000.0%held
JNJ JOHNSON & JOHNSONHealthcare1.2%$89.1m610,8000.0%held
AAPL APPLE INCTechnology1.2%$88.1m300,035+1.0%added
UNILEVER PLC no ticker–1.2%$87.3m1.53m0.0%held
GS GOLDMAN SACHS GROUP INCFinancial Services1.1%$78.6m341,900+2.3%added
MSFT MICROSOFT CORPTechnology1.0%$74.8m474,620+2.5%added
WSO WATSCO INCIndustrials1.0%$69.8m387,500+2.9%added
LOW LOWES COS INCConsumer Cyclical1.0%$69.6m581,000+1.9%added
BX BLACKSTONE INCFinancial Services0.9%$68.4m1.22m+1.4%added
GD GENERAL DYNAMICS CORPIndustrials0.9%$68.2m387,0000.0%held
MRSH MARSH & MCLENNAN COS INCFinancial Services0.9%$67.9m609,5000.0%held
ADM ARCHER DANIELS MIDLAND COConsumer Defensive0.9%$67.8m1.46m0.0%held
ELV ELEVANCE HEALTH INCHealthcare0.9%$67.7m224,0000.0%held
NVO NOVO-NORDISK A SHealthcare0.9%$62.2m1.07m0.0%held
MA MASTERCARD INCFinancial Services0.9%$61.5m205,850+1.7%added
AXP AMERICAN EXPRESS COFinancial Services0.8%$59.9m481,250+2.1%added
ECL ECOLAB INCBasic Materials0.8%$59.1m306,300+2.9%added
ITW ILLINOIS TOOL WKS INCIndustrials0.8%$57.3m319,000+12%added
BF/A BROWN FORMAN CORP–0.7%$52.9m843,0000.0%held
SCHW SCHWAB CHARLES CORPFinancial Services0.7%$51.5m1.08m+1.3%added
MCO MOODYS CORPFinancial Services0.7%$49.8m209,780+1.7%added
APOLLO GLOBAL MGMT LLC no ticker–0.7%$48.3m1.01m–new
PGR PROGRESSIVE CORPFinancial Services0.6%$46.3m640,000+11%added
SBUX STARBUCKS CORPConsumer Cyclical0.6%$45.7m519,668+2.7%added
SMG SCOTTS MIRACLE-GRO COBasic Materials0.6%$44.8m422,000+2.7%added
NSC NORFOLK SOUTHERN CORPIndustrials0.6%$44.6m229,5000.0%held
TRV TRAVELERS COMPANIES INCFinancial Services0.6%$43.1m315,0000.0%held
CAT CATERPILLAR INCIndustrials0.6%$41.9m284,000+2.2%added
COLFAX CORP no ticker–0.6%$41.3m1.14m0.0%held
MMM 3M COIndustrials0.6%$40.3m228,500+2.5%added
SPGI S&P GLOBAL INCFinancial Services0.6%$40.1m147,0000.0%held
KKR KKR & CO INCFinancial Services0.6%$39.8m1.37m+2.6%added

Exited since Q3 2019

1 row
APOEUR APOLLO GLOBAL MGMT INC0.6%$38.3m

Sector mix

  • Unclassified24.7%
  • Consumer Cyclical19.8%
  • Financial Services17.3%
  • Industrials9.6%
  • Communication Services8.0%
  • Technology6.8%
  • Healthcare6.1%
  • Consumer Defensive5.3%
  • Basic Materials2.2%
  • Real Estate0.2%

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