Guy Spier Aquamarine Zurich
Guy Spier is the founder of Aquamarine Capital and a well-known advocate of value investing in the Buffett-Munger tradition. He is the author of The Education of a Value Investor and is known for a patient, checklist-oriented process and limited portfolio turnover. Spier’s public holdings and writings attract individual investors who study behavioral discipline as much as stock picking.
Top Buys
Top Sells
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 74.41% |
| 2 | Consumer Discretionary | 13.39% |
| 3 | Technology | 9.18% |
| 4 | Real Estate | 2.04% |
| 5 | Communication Services | 0.98% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Berkshire Hathaway Class B
BRK.B
$1.23T
| $50.1M | 21.92% |
140,600
| – | – |
2022 Q3
5 quarters
|
|
2
American Express
AXP
$217B
| $39.3M | 17.2% |
210,000
| – | – |
2022 Q3
5 quarters
|
|
3
Mastercard
MA
$571B
| $28M | 12.26% |
65,750
| – | – |
2022 Q3
5 quarters
|
|
4
Ferrari
RACE
$73.4B
| $27M | 11.78% |
80,000
| – | – |
2022 Q3
5 quarters
|
|
5
Bank of America
BAC
$349B
| $25.9M | 11.3% |
767,845
| – | – |
2022 Q3
5 quarters
|
|
6
Micron Technology
MU
$830B
| $17.1M | 7.46% |
200,000
| – | – |
2022 Q3
5 quarters
|
|
7
Berkshire Hathaway Class A
BRK.A
$1.22T
| $16.3M | 7.12% |
30
| – | – |
2022 Q3
5 quarters
|
|
8
Moody's
MCO
$88.1B
| $10.5M | 4.61% |
27,000
| – | – |
2022 Q3
5 quarters
|
|
9
Seritage Growth Properties
SRG
$93.5M
| $4.68M | 2.04% |
500,000
| – | – |
2022 Q3
5 quarters
|
|
10
Daily Journal
DJCO
$911M
| $3.92M | 1.71% |
11,500
| – | – |
2022 Q3
5 quarters
|
|
11
Alibaba
BABA
$262B
| $3.68M | 1.61% |
47,500
| – | – |
2022 Q3
5 quarters
|
|
12
Alphabet (Google) Class A
GOOGL
$3.54T
| $2.24M | 0.98% |
16,000
| – | – |
2022 Q3
5 quarters
|
|
Similar funds
Guy Spier's Q4 2023 Portfolio in Review
As of Q4 2023, Guy Spier held 12 positions worth $229M, up 13% from $203M the previous quarter. Its ten largest holdings account for 97% of the portfolio.
Trading was light in Q4 2023: portfolio turnover was 0%. Guy Spier opened no new positions and made no exits, leaving the 12-position portfolio largely intact.
By sector, the portfolio is most concentrated in Financials at 74% of assets, down from 75% a quarter earlier, followed by Consumer Discretionary and Technology.
- Guy Spier's ten largest holdings make up 97% of its $229M portfolio in Q4 2023.
- Guy Spier opened 0 new positions and closed 0 in Q4 2023.
- Guy Spier's portfolio value rose 13% quarter-over-quarter to $229M.
Based on Aquamarine Zurich's 13F filing for Q4 2023, filed 1 Feb 2024.