MARKEL CORP

Ticker: MKL CUSIP: 570535104 Class: COMMON STOCK

Pine River Capital Management L.P.'s Holding History (CIK: 0001288136)

Note: Option positions (PUT/CALL) are excluded.

Q4 2016

Shares 600 Value ($000) $543 Avg Close $891.63 Range $811.05 - $931.94

Q3 2014

Shares 1,030 Value ($000) $655 Avg Close $645.09 Range $623.90 - $666.00

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2016	600	$543	$891.63	$811.05 - $931.94
Q3 2014	1,030	$655	$645.09	$623.90 - $666.00