13F-HR 1 d13fhr.txt FORM 13-F UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter: December 31, 2002 ----------------- Check here if Amendment [_]; Amendment Number: ____ This Amendment (Check only one.): [_] is a restatement. [_] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Markel Gayner Asset Management Corporation Address: 4521 Highwoods Pkwy Glen Allen, VA 23060 Form 13F File Number: 28-6056 -------- The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Thomas S. Gayner Title: President Phone: 804-527-3806 Signature, Place, and Date of Signing: Thomas S. Gayner Richmond, VA 02/12/03 ---------------------- ---------------------------- ------------------- [Signature] [City, State] [Date] Report Type (Check only one.): [X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [_] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) [_] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 3 ----------------- Form 13F Information Table Entry Total: 148 ----------------- Form 13F Information Table Value Total: $ 603447 ----------------- (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. No. Form 13F File Number Name -- -------------------- ---- 1 28-6647 Markel Corporation 2 28-6745 Evanston Insurance Company 3 To Be Assigned Essex Insurance Company 1 Markel Gayner Asset Management Corporation FORM 13F December 31, 2002

Voting Authority Title of Value Shares/ Sh/ Put/ Invstmt Other -------------------- Name of Issuer Class Cusip (x$1000) Prn Amt Prn Call Dscretn Managers Sole Shared None ---------------------------------------------------------------------------------------------------------------------------------- Abbott Laboratories COM 002824100 1484 37100 SH Other 1 37100 Ace Limited COM G0070K103 3979 135600 SH Other 1,3 135600 460 15700 SH Other 1 15700 Aflac COM 001055102 602 20000 SH Other 1,2 20000 9 300 SH Other 1 300 Allied Capital Corp. COM 019033109 2521 115500 SH Other 1,2 115500 5453 249790 SH Other 1 249790 Aluminum Company of America COM 022249106 3118 136880 SH Other 1,2 136880 1248 54800 SH Other 1,3 54800 256 11200 SH Other 1 11200 American Express COM 025816109 4843 137000 SH Other 1,2 137000 353 10000 SH Other 1,3 10000 7555 213700 SH Other 1 213700 Anheuser Busch COM 035229103 17529 362175 SH Other 1,2 362175 3872 80000 SH Other 1,3 80000 16650 344005 SH Other 1 344005 Astoria Financial COM 046265104 814 30000 SH Other 1,2 30000 71 2600 SH Other 1 2600 Automatic Data Processing COM 019411107 785 20000 SH Other 1,2 20000 1229 31306 SH Other 1 31306 Bank One COM 06423A103 731 20000 SH Other 1 20000 Bank of New York COM 064057102 2276 95000 SH Other 1,2 95000 719 30000 SH Other 1,3 30000 3038 126800 SH Other 1 126800 Berkshire Hathaway Class B COM 084670207 14599 6025 SH Other 1,2 6025 6057 2500 SH Other 1,3 2500 48361 19959 SH Other 1 19959 Berkshire Hathaway, Inc. COM 10382K102 10549 145 SH Other 1,2 145 6620 91 SH Other 1 91 Bristol Myers Squibb COM 110122108 2431 105000 SH Other 1,3 105000 1426 61600 SH Other 1 61600 Brown Forman Class A COM 115637100 770 11500 SH Other 1,2 11500 536 8000 SH Other 1,3 8000 8190 122230 SH Other 1 122230 Carmax COM 143130102 12579 703500 SH Other 1,2 703500 2593 145000 SH Other 1,3 145000 13745 768793 SH Other 1 768793 Cedar Fair LP COM 150185106 588 24900 SH Other 1 24900 Centerpoint Property Trust COM 151895109 14025 245400 SH Other 1,2 245400 3429 60000 SH Other 1,3 60000 13673 239250 SH Other 1 239250 Cincinnati Financial COM 172062101 6383 170000 SH Other 1,2 170000 5811 154750 SH Other 1,3 154750 8749 232985 SH Other 1 232985 Claire's Stores COM 179584107 552 25000 SH Other 1,2 25000 4522 204900 SH Other 1 204900 Clayton Homes COM 184190106 304 25000 SH Other 1,2 25000 609 50000 SH Other 1,3 50000 19230 1578817 SH Other 1 1578817 Corus Bankshares COM 220873103 873 20000 SH Other 1,2 20000 437 10000 SH Other 1 10000 Costco COM 22160K105 2104 75000 SH Other 1,2 75000 1123 40000 SH Other 1 40000 Cox Communications COM 224044107 284 10000 SH Other 1 10000 Diageo PLC COM 25243Q205 15111 345000 SH Other 1,2 345000 6198 141500 SH Other 1,3 141500 7119 162545 SH Other 1 162545 Exxon Corporation COM 302290101 349 10000 SH Other 1,2 10000 349 10000 SH Other 1,3 10000 2582 73872 SH Other 1 73872 Fairfax Financial Holdings Ltd. COM 303901102 2300 30000 SH Other 1,2 30000 Family Golf Centers Inc. COM 30701A106 0 60000 SH Other 1,2 60000 0 50000 SH Other 1,3 50000 0 50000 SH Other 1 50000 Forest City Enterprises COM 345550107 5002 150000 SH Other 1,2 150000 1000 30000 SH Other 1,3 30000 1178 35300 SH Other 1 35300 Gannett Company COM 364730101 1663 23167 SH Other 1 23167 General Electric COM 369604103 398 16350 SH Other 1 16350 Golden West Financial COM 381317106 718 10000 SH Other 1,2 10000 2409 33550 SH Other 1 33550 HCC Corporation COM 404132102 14760 600000 SH Other 1,2 600000 1968 80000 SH Other 1,3 80000 4440 180500 SH Other 1 180500 Harrah's Entertainment COM 413619107 396 10000 SH Other 1,2 10000 792 20000 SH Other 1,3 20000 6130 154800 SH Other 1 154800

Markel Gayner Asset Management Corporation FORM 13F December 31, 2002

Voting Authority Title of Value Shares/ Sh/ Put/ Invstmt Other -------------------- Name of Issuer Class Cusip (x$1000) Prn Amt Prn Call Dscretn Managers Sole Shared None ---------------------------------------------------------------------------------------------------------------------------------- Household International COM 441815107 556 20000 SH Other 1,3 20000 804 28900 SH Other 1 28900 International Speedway COM 460335201 1219 32700 SH Other 1,2 32700 559 15000 SH Other 1,3 15000 5837 156500 SH Other 1 156500 Interpublic Group COM 460690100 957 68000 SH Other 1,2 68000 845 60000 SH Other 1,3 60000 2650 188200 SH Other 1 188200 Investors Title Company COM 461804106 964 42200 SH Other 1,2 42200 3486 152600 SH Other 1,3 152600 1013 44350 SH Other 1 44350 Johnson and Johnson COM 478160104 1461 27200 SH Other 1 27200 Kaneb Services COM 484173109 743 40500 SH Other 1,2 40500 4046 220500 SH Other 1,3 220500 2854 155500 SH Other 1 155500 Lamar Communications COM 512815101 336 10000 SH Other 1 10000 MBIA Inc. COM 55262C100 5044 115000 SH Other 1,2 115000 7675 175000 SH Other 1,3 175000 7031 160300 SH Other 1 160300 Marriott International COM 571903202 657 20000 SH Other 1,3 20000 2242 682000 SH Other 1 68200 Marsh & McLennan COM 571748102 1525 33000 SH Other 1 33000 Martin Marietta Materials COM 573284106 1303 42500 SH Other 1,2 42500 7668 250086 SH Other 1,3 250086 6818 222394 SH Other 1 222394 Merck COM 58155Q103 4009 70825 SH Other 1 70825 New York Community Bank COM 649445103 578 20000 SH Other 1,2 20000 Penn National Gaming COM 707569109 983 62000 SH Other 1,2 62000 2147 135400 SH Other 1,3 135400 318 20000 SH Other 1 20000 Pepsico COM 713448108 1440 34100 SH Other 1 34100 Pfizer Inc COM 717081103 257 8400 SH Other 1 8400 Philip Morris, Inc. COM 718154107 4807 118600 SH Other 1 118600 Plum Creek Lumber COM 729237107 370 15687 SH Other 1 15687 RLI Corporation COM 749607107 2891 103624 SH Other 1,2 103624 11064 396576 SH Other 1,3 396576 4117 147546 SH Other 1 147546 Schering Plough COM 806605101 333 15000 SH Other 1,2 15000 222 10000 SH Other 1,3 10000 1128 50800 SH Other 1 50800 ServiceMaster COM 817615107 1720 155000 SH Other 1,2 155000 346 31200 SH Other 1,3 31200 2967 267243 SH Other 1 267243 State Street Corp COM 857477103 390 10000 SH Other 1,2 10000 796 20400 SH Other 1 20400 Tiffany COM 886547108 598 25000 SH Other 1,2 25000 2 100 SH Other 1 100 United Mobile Homes COM 911024107 176 13000 SH Other 1 13000 Valley National Bank COM 919794107 549 20808 SH Other 1,2 20808 1110 42097 SH Other 1 42097 Vulcan Materials COM 929160109 975 26000 SH Other 1,2 26000 1162 31000 SH Other 1,3 31000 2231 59480 SH Other 1 59480 Walt Disney Company COM 254687106 979 60000 SH Other 1,2 60000 815 50000 SH Other 1,3 50000 4505 276205 SH Other 1 276205 Washington Post Co COM 939640108 1328 1800 SH Other 1,3 1800 1273 1725 SH Other 1 1725 Washington Real Estate Investm COM 939653101 2435 95500 SH Other 1,2 95500 5490 215293 SH Other 1,3 215293 5128 201107 SH Other 1 201107 Waste Management COM 94106l109 573 25000 SH Other 1,2 25000 5295 231036 SH Other 1 231036 White Mountains COM G9618E107 97 300 SH Other 1,2 300 3230 10000 SH Other 1,3 10000 43605 135000 SH Other 1 135000 Wyeth Inc. COM 026609107 1194 31920 SH Other 1 31920 XL Capital COM G3242A102 27745 359160 SH Other 1,2 359160 8396 108688 SH Other 1,3 108688 9687 125400 SH Other 1 125400 Zimmer Holdings Inc. COM 98956P102 84 2030 SH Other 1 2030 REPORT SUMMARY 148 DATA RECORDS $603447 3 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter: December 31, 2002 Check here if Amendment [_]; Amendment Number: ____ This Amendment (Check only one.): [_] is a restatement. [_] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Markel Corporation Address: 4521 Highwoods Pkwy Glen Allen, VA 23060 Form 13F File Number: 28-6647 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Thomas S. Gayner Title: Chief Investment Officer Phone: 804-527-3806 Signature, Place, and Date of Signing: Thomas S. Gayner Richmond, VA 02/12/03 ---------------------- ---------------------------- ------------------- [Signature] [City, State] [Date] Report Type (Check only one.): [_] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [X] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) [_] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) List of Other Managers Reporting for this Manager: Form 13F File Number Name -------------------- ---- 28-6056 Markel Gayner Asset Management Corporation UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter: December 31, 2002 Check here if Amendment [_]; Amendment Number: ____ This Amendment (Check only one.): [_] is a restatement. [_] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Evanston Insurance Company Address: Ten Parkway North Deerfield, IL 60015 Form 13F File Number: 28-6745 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Anne Waleski Title: Assistant Treasurer Phone: 804-747-0136 Signature, Place, and Date of Signing: Anne Waleski Richmond, VA 02/12/03 ---------------------- ---------------------------- ------------------- [Signature] [City, State] [Date] Report Type (Check only one.): [_] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [X] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) [_] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) List of Other Managers Reporting for this Manager: Form 13F File Number Name -------------------- ---- 28-6056 Markel Gayner Asset Management Corporation UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter: December 31, 2002 Check here if Amendment [_]; Amendment Number: ____ This Amendment (Check only one.): [_] is a restatement. [_] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Essex Insurance Company Address: 4521 Highwoods Parkway Glen Allen, VA 23060 Form 13F File Number: To Be Assigned The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Anne Waleski Title: Assistant Treasurer Phone: 804-747-0136 Signature, Place, and Date of Signing: Anne Waleski Richmond, VA 02/12/03 ---------------------- ---------------------------- ------------------- [Signature] [City, State] [Date] Report Type (Check only one.): [_] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [X] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) [_] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) List of Other Managers Reporting for this Manager: Form 13F File Number Name -------------------- ---- 28-6056 Markel Gayner Asset Management Corporation