Tracking Thomas Gayner's Markel Portfolio – Q1 2021 Update

  • Gayner’s portfolio increased from $6.71B to $7.23B this quarter. 
  • The portfolio saw only minor adjustments during the quarter. 
  • Berkshire Hathaway at ~11% of the portfolio is by far the largest position. 

 Thomas Gayner’s Markel Investment Portfolio value increased from $6.71B to $7.23B this quarter. The portfolio continues to have around 100 different positions although only around 50 are significantly large (more than 0.5% of the portfolio each). The top-five stakes are Berkshire Hathaway, Brookfield Asset Management, Walt Disney, Alphabet, and Amazon.

 

Markel Corporation (MKL) is currently trading at around 1.33-times Book Value (BV) at ~$1216 per share - BV is ~$913 as of Q4 2020.

 

Below is a spreadsheet that highlights the changes to the portfolio as of Q1 2021. Please check out our previous update to have an idea on how the portfolio is progressing:

 


 

 

To learn more about how to profit from a strategy of cloning hedge fund picks, check out our book Profiting from Hedge Funds: Winning Strategies for the Little Guy.  

 




Tracking Michael Burry’s Scion Asset Management Portfolio – Q1 2021 Update

  • Michael Burry’s 13F portfolio value increased a whopping ~500% from $225M to $1.35B this quarter as several new stakes were added. 
  • Scion Asset Management added two large positions through Puts this quarter – Tesla and iShares 20 year Bond ETF Fund.  
  • The top three positions are Tesla Puts, iShares 20 year Bond ETF Puts, and Alphabet Calls. 

 

Michael Burry’s 13F portfolio increased from $225M to $1.35B this quarter. The portfolio is heavily concentrated with recent 13F reports showing around 25 positions. To know more about Dr. Michael Burry, check out the book The Big Short: Inside the Doomsday Machine by Michael Lewis.

 

Below is a spreadsheet that shows the changes to Michael Burry's Scion Asset Management US long portfolio holdings as of Q1 2021. For a look at how the portfolio has progressed, see our previous update:

 

 


 

To learn more about how to profit from a strategy of following the best hedge fund picks, check out our book Profiting from Hedge Funds: Winning Strategies for the Little Guy .    

 



Tracking Charlie Munger's Daily Journal Portfolio – Q1 2021 Update

  • Charlie Munger’s Daily Journal Portfolio has just five positions. 
  • The portfolio has been largely untouched since their first 13F filing for Q4 2013. 
  • The portfolio remained steady this quarter as well. 

Charlie Munger’s Daily Journal portfolio value remained steady at ~$197M this quarter. Since their first 13F filing in Q4 2013, there have only been two changes to the holdings: POSCO was reduced significantly in Q4 2014 and a large position was initiated in Alibaba Group Holdings in Q4 2020. After accounting for those two changes, the portfolio has remained remarkably steady over the last seven years. To know more about Charlie Munger, check out the book Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger.

 

Regarding the origins of this portfolio in 2009, Charlie Munger said the following during Daily Journal’s (DJCO) 2018 AGM Q&A: “In addition to Daily Journal's businesses, we have a great bundle of securities and want to dispel again that this is not some minor version of Berkshire. We have a bundle, because we bought them at a time when we preferred to own them to holding cash and had a lot of extra liquidity on hand that came to us by accident. The chances of more gains like what we have done in the last four or five years is zero. Oh, well we will have a big gain next quarter, because of a deferred tax reduction from the Trump tax code change, so we will look like a genius for one more quarter, I suppose.” The cost-basis of the positions acquired at the time was $63.4M.

 

The spreadsheet below shows Charlie Munger's Daily Journal 13F stock holdings as of Q1 2021. Please visit our previous updates to get an idea on how the portfolio has progressed:

 

 


 

To learn more about how to profit from a strategy of cloning hedge fund picks, check out our book Profiting from Hedge Funds: Winning Strategies for the Little Guy .

 

 




Tracking Bill & Melinda Gates Foundation Portfolio – Q1 2021 Update

  • The huge ~$21B portfolio has just 15 positions. 
  • The largest stake, Berkshire Hathaway is at a whopping ~45% of the portfolio. 
  • This quarter saw a small position in Coupang added while dropping Amazon, Apple, Liberty Global, and Twitter. 

 Gates Foundation portfolio value decreased this quarter from ~$22.34B to ~$21B this quarter. Over the years, the portfolio has become extremely concentrated. In their first 13F filing in 2002, they had about 27 positions and the total portfolio value was ~$1.8B. Currently, the portfolio is around ten times that while the number of positions has gone down to just 15.

 

To know more about Gates and the Foundation, check-out the book Bill Gates: The Inspirational Life Story of Bill Gates; Businessman, Inventor, and the World's Most Remarkable Philanthropist.

 

The spreadsheet below shows Gates Foundation’s holdings as of Q1 2021. Please visit our previous updates to get an idea on how the portfolio has progressed:

 


 

 

To learn more about how to profit from a strategy of cloning hedge fund picks, check out our book Profiting from Hedge Funds: Winning Strategies for the Little Guy.   

 





Tracking Michael Price’s MFP Portfolio – Q1 2021 Update

  • Michael Price’s 13F portfolio value increased from $649M to $835M this quarter. 
  • MFP Investors increased W R Grace and added Laboratory Corp during the quarter. 
  • The largest three individual stock positions are Intel Corporation S&W Seed Company, and Bunge and they add up to ~27% of the portfolio. 

 Michael Price’s 13F portfolio value increased from $649M to $835M this quarter. The portfolio is diversified with recent 13F reports showing well over 100 individual stock positions. The top five stakes are Intel Corporation S&W Seed Company, Bunge, CIT Group, and Anterix. They add up to ~34% of the 13F portfolio.

 

Below is a spreadsheet that shows the changes to Michael Price's MFP Investors 13F portfolio holdings as of Q1 2021. For a look at how the portfolio has progressed, see our previous update:

 

 


 

To learn more about how to profit from a strategy of following the best hedge fund picks, check out our book Profiting from Hedge Funds: Winning Strategies for the Little Guy .    

 




Tracking Robert & Jeffrey Bruce’s Bruce Fund Portfolio – Q1 2021 Update

  • Robert & Jeffrey Bruce’s 13F portfolio value increased from $519M to $534M this quarter. 
  • Bruce Fund increased Abbvie and Pfizer while dropping Compass Minerals and Bunge. 
  • The largest three individual stock positions are AMERCO, Bausch Health, and Nextera Energy and they add up to ~27% of the portfolio. 

 Robert & Jeffrey Bruce’s 13F portfolio value increased from $519M to $534M this quarter. Recent 13F reports have shown a total of around 50 positions. The largest five individual stock positions are AMERCO, Bausch Health, Nextera Energy, Abbvie, and Allstate. They add up to ~42% of the 13F portfolio.

 

Below is a spreadsheet that shows the changes to Robert & Jeffrey Bruce's Bruce Fund Holdings US long portfolio holdings as of Q1 2021. For a look at how the portfolio has progressed, see our previous update:

 

 


 

To learn more about how to profit from a strategy of following the best hedge fund picks, check out our book Profiting from Hedge Funds: Winning Strategies for the Little Guy .    

 




Tracking Guy Spier's Aquamarine Capital Portfolio – Q1 2021 Update

  • Aquamarine Capital’s 13F portfolio value increased from $171M to $191M. 
  • The portfolio was untouched this quarter. 
  • Berkshire Hathaway, Bank of America, and American Express are the three largest positions. 

Guy Spier’s Aquamarine Capital Portfolio value increased from $171M to $191M during the quarter. The portfolio is very concentrated with just 11 positions. The largest five positions are Berkshire Hathaway (BRK.A), Bank of America (BAC), American Express (AXP), Mastercard Inc. (MA), and Micron Technology (MU). They together add up to ~77% of the entire portfolio.

 

Below is a spreadsheet that highlights the changes to the portfolio as of Q1 2021. Please check out our previous update to have an idea on how the portfolio is progressing:

 

 


 

To learn more about how to profit from a strategy of cloning hedge fund picks, check out our book Profiting from Hedge Funds: Winning Strategies for the Little Guy.    



 

Tracking John Armitage’s Egerton Capital Portfolio – Q1 2021 Update

  • John Armitage’s 13F portfolio value increased ~8% from $17.66B to $18.98B this quarter. 
  • Egerton Capital increased Alphabet, Microsoft, and Amazon while dropping Progressive Corp during the quarter. 
  • Alphabet, Microsoft, and Canadian Pacific are the largest three positions in the portfolio. 

 

John Arimitage’s 13F portfolio value increased ~8% from $17.66B to $18.98B this quarter. The portfolio is very concentrated with recent 13Fs listing around 30 positions. The largest five individual stock positions are Alphabet, Microsoft Corp, Canadian Pacific, Charter Communications, and L Brands. They add up to ~34% of the entire portfolio.

 

Below is a spreadsheet that highlights the changes to John Armitage's Egerton Capital 13F stock portfolio as of Q1 2021. For a look at how the portfolio has progressed, see our previous update:

 

 


 

To learn more about how to profit from a strategy of following the best hedge fund picks, check out our book Profiting from Hedge Funds: Winning Strategies for the Little Guy .    

 

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