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 | 79.15% |
| 2 | Consumer Discretionary | 10% |
| 3 | Technology | 8.12% |
| 4 | Communication Services | 1.05% |
| 5 | Real Estate | 0.72% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Berkshire Hathaway Class B
BRK.B
$1.22T
| $63.7M | 22.16% |
140,600
| – | – |
2022 Q3
9 quarters
|
|
2
American Express
AXP
$217B
| $62.3M | 21.67% |
210,000
| – | – |
2022 Q3
9 quarters
|
|
3
Mastercard
MA
$571B
| $34.6M | 12.04% |
65,750
| – | – |
2022 Q3
9 quarters
|
|
4
Bank of America
BAC
$349B
| $33.7M | 11.73% |
767,845
| – | – |
2022 Q3
9 quarters
|
|
5
Ferrari
RACE
$73.4B
| $24.7M | 8.6% |
60,000
| – | – |
2022 Q3
9 quarters
|
|
6
Berkshire Hathaway Class A
BRK.A
$1.21T
| $20.4M | 7.1% |
30
| – | – |
2022 Q3
9 quarters
|
|
7
Micron Technology
MU
$830B
| $16.8M | 5.85% |
200,000
| – | – |
2022 Q3
9 quarters
|
|
8
Moody's
MCO
$88.1B
| $12.8M | 4.44% |
27,000
| – | – |
2022 Q3
9 quarters
|
|
9
Daily Journal
DJCO
$911M
| $6.53M | 2.27% |
11,500
| – | – |
2022 Q3
9 quarters
|
|
10
Alibaba
BABA
$262B
| $4.03M | 1.4% |
47,500
| – | – |
2022 Q3
9 quarters
|
|
11
Alphabet (Google) Class A
GOOGL
$3.54T
| $3.03M | 1.05% |
16,000
| – | – |
2022 Q3
9 quarters
|
|
12
Seritage Growth Properties
SRG
$93.5M
| $2.06M | 0.72% |
500,000
| – | – |
2022 Q3
9 quarters
|
|
13
Alpha Metallurgical Resources
AMR
$1.96B
| $1.6M | 0.56% |
8,000
| – | – |
2024 Q2
2 quarters
|
|
14
DELISTED
Arch Resources, Inc.
ARCH
| $1.14M | 0.4% |
8,100
| – | – |
2024 Q2
2 quarters
|
|
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Guy Spier's Q4 2024 Portfolio in Review
As of Q4 2024, Guy Spier held 14 positions worth $288M, up 0.7% from $286M the previous quarter. Its ten largest holdings account for 97% of the portfolio.
Trading was light in Q4 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 79% of assets, up from 76% a quarter earlier, followed by Consumer Discretionary and Technology.
- Guy Spier's ten largest holdings make up 97% of its $288M portfolio in Q4 2024.
- Guy Spier opened 0 new positions and closed 0 in Q4 2024.
- Guy Spier's portfolio value rose 0.7% quarter-over-quarter to $288M.
Based on Aquamarine Zurich's 13F filing for Q4 2024, filed 24 Jan 2025.