Instuitional Investor - Capco Asset Management, Llc

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	Progressive Corp	PGR	404,365	$64,407,225	15.45%
2.	Marriott International Inc	MAR	259,394	$58,495,992	14.03%
3.	Microsoft Corp	MSFT	140,991	$53,018,350	12.72%
4.	Charter Communications Inc.	CHTR	109,181	$42,436,471	10.18%
5.	Markel Group Inc.	MKL	28,903	$41,039,370	9.84%