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 | 76.38% |
| 2 | Consumer Discretionary | 11.58% |
| 3 | Technology | 9.24% |
| 4 | Communication Services | 0.93% |
| 5 | Real Estate | 0.81% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Berkshire Hathaway Class B
BRK.B
$1.06T
| $64.7M | 22.66% |
140,600
| – | – |
|
2
American Express
AXP
$227B
| $57M | 19.94% |
210,000
| – | – |
|
3
Mastercard
MA
$509B
| $32.5M | 11.37% |
65,750
| – | – |
|
4
Bank of America
BAC
$431B
| $30.5M | 10.67% |
767,845
| – | – |
|
5
Ferrari
RACE
$76.7B
| $28M | 9.82% |
60,000
| – | – |
|
6
Micron Technology
MU
$1.09T
| $20.7M | 7.26% |
200,000
| – | – |
|
|
7
Berkshire Hathaway Class A
BRK.A
$1.06T
| $20.7M | 7.26% |
30
| – | – |
|
8
Moody's
MCO
$87.2B
| $12.8M | 4.49% |
27,000
| – | – |
|
9
Daily Journal
DJCO
$827M
| $5.64M | 1.97% |
11,500
| – | – |
|
10
Alibaba
BABA
$286B
| $5.04M | 1.77% |
47,500
| – | – |
|
11
Alphabet (Google) Class A
GOOGL
$4.22T
| $2.65M | 0.93% |
16,000
| – | – |
|
|
SRG
12
Seritage Growth Properties
SRG
$120M
| $2.33M | 0.81% |
500,000
| – | – |
|
13
Alpha Metallurgical Resources
AMR
$2.66B
| $1.89M | 0.66% |
8,000
| – | – |
|
|
ARCH
14
DELISTED
Arch Resources, Inc.
ARCH
| $1.12M | 0.39% |
8,100
| – | – |
|
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Guy Spier's Q3 2024 Portfolio in Review
As of Q3 2024, Guy Spier held 14 positions worth $286M, up 8.8% from $263M the previous quarter. Its ten largest holdings account for 97% of the portfolio.
Trading was light in Q3 2024: portfolio turnover was 0%. Guy Spier opened no new positions and made no exits, leaving the 14-position portfolio largely intact.
By sector, the portfolio is most concentrated in Financials at 76% of assets, up from 74% a quarter earlier, followed by Consumer Discretionary and Technology.
- Guy Spier's ten largest holdings make up 97% of its $286M portfolio in Q3 2024.
- Guy Spier opened 0 new positions and closed 0 in Q3 2024.
- Guy Spier's portfolio value rose 8.8% quarter-over-quarter to $286M.
Based on Aquamarine Zurich's 13F filing for Q3 2024, filed 16 Oct 2024.