- Aquamarine Capital’s 13F portfolio value decreased from $217M to $147M.
- The portfolio value decreased roughly one-third during the quarter.
- Berkshire Hathaway and Ferrari N V are the largest two positions.
Guy Spier’s Aquamarine Capital Portfolio value decreased one-third from $217M to $147M during the quarter. The portfolio is very concentrated with just 10 positions. The largest five positions are Berkshire Hathaway (BRK.A), Ferrari NV (RACE), American Express (AXP), Bank of America (BAC), and Mastercard Inc. (MA). They together add up to ~79% of the entire portfolio.
Most of the top positions have remained steady in recent quarters. Below is a spreadsheet that highlights the changes to the portfolio as of Q1 2020. Please check out our previous update to have an idea on how the portfolio is progressing:
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