Tracking Thomas Gayner's Markel Portfolio – Q1 2022 Update

• Gayner’s portfolio decreased from $8.70B to $8.39B this quarter. 
• There were only minor adjustments this quarter. 
• Berkshire Hathaway at ~13% of the portfolio is by far the largest position. 

 Thomas Gayner’s Markel Investment Portfolio value decreased from $8.70B to $8.39B 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, Alphabet, Amazon.com, and Deere.

 

Markel Corporation (MKL) is currently trading at around ~1.35-times Book Value (BV) at ~$995 per share - BV is ~$1340.

 

Below is a spreadsheet that highlights the changes to the portfolio as of Q1 2022. 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 2022 Update

•  Michael Burry’s 13F portfolio value increased from $75M to $201M this quarter. 
• Scion Asset Management added a large short position in Apple through Puts during the quarter.  
• The top three positions are Alphabet, Apple Puts, and Booking Holdings. 

Michael Burry’s 13F portfolio value increased from $75M this quarter. The portfolio is heavily concentrated with just 12 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 2022. 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 2022 Update

• Charlie Munger’s Daily Journal Portfolio has just five positions. 
• Alibaba Group Holdings stake was reduced by ~50% this quarter. 
• The portfolio value increased to $259M this quarter. 

 Charlie Munger’s Daily Journal portfolio value decreased from $259M to $213M 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 nine 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 2022. 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 2022 Update

• The huge ~$20B portfolio has 21 positions. 
• The largest stake, Berkshire Hathaway is at a whopping ~51% of the portfolio. 
• They decreased Berkshire Hathaway, Caterpillar, and Wal-Mart and dropped Alphabet, Canadian Pacific Railway, and Grupo Televisa SA during the quarter. 

 Gates Foundation portfolio value decreased from ~$23B to ~$20B 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 over ten times that while the number of positions has gone down to just 18.

 

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 2022. Please visit our previous update 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 2022 Update

• Michael Price’s 13F portfolio value decreased from $905M to $847M this quarter. 
• MFP Investors added SouthState Corp and increased First Citizens BancShares while dropping Atlantic Capital Bancshares and CIT Group during the quarter. 
• The largest three individual stock positions are Intel Corporation, Bunge Limited, and  S&W Seed Company, and they add up to ~22% of the portfolio. 

 Michael Price’s 13F portfolio value decreased from $905M to $847M this quarter. The portfolio is diversified with recent 13F reports showing well over 100 individual stock positions. The top five stakes are Intel Corporation, Bunge, S&W Seed Company, Anterix, and First Citizens BancShares. They add up to ~29% of the 13F portfolio.

 

Below is a spreadsheet that shows the changes to Michael Price's MFP Investors 13F portfolio holdings as of Q1 2022. 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 2022 Update

• Robert & Jeffrey Bruce’s 13F portfolio value decreased from $500M to $489M this quarter. 
• Bruce Fund added AT&T while decreasing AbbVie, Apple, Supernus, & XM Sirius during the quarter. 
• The largest three individual stock positions are AMERCO, Nextera Energy, and AbbVie and they add up to ~26% of the portfolio.

 Robert & Jeffrey Bruce’s 13F portfolio value decreased from $500M to $489M this quarter. Recent 13F reports have shown a total of around 50 positions. The largest five individual stock positions are AMERCO, Nextera Energy, AbbVie, Allstate, and CMS Energy. They add up to ~40% 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 2022. 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 2022 Update

• Aquamarine Capital’s 13F portfolio value increased from $218M to $221M. 
• The portfolio was untouched this quarter. 
• Berkshire Hathaway, American Express, and Bank of America are the three largest positions. 

 Guy Spier’s Aquamarine Capital Portfolio value increased from $218M to $221M during the quarter. The portfolio is very concentrated with just 12 positions. The largest five positions are Berkshire Hathaway (BRK.A), American Express (AXP), Bank of America (BAC), Mastercard Inc. (MA), and Ferrari NV (RACE). They together add up to ~80% of the entire portfolio.

 

Below is a spreadsheet that highlights the changes to the portfolio as of Q1 2022. 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 2022 Update

• John Armitage’s 13F portfolio value decreased from $21.45B to $18.91B this quarter. 
• Egerton Capital added Alcoa and increased Canadian National Railway, Amazon.com, Linde plc, and Lowes while dropping Shopify and Netflix. 
• Canadian Pacific, Alphabet, and Microsoft are the largest three positions in the portfolio. 

John Arimitage’s 13F portfolio value decreased ~12% from $21.45B to $18.91B this quarter. The portfolio is very concentrated with recent 13Fs listing around 27 positions. The largest five individual stock positions are Alphabet, Microsoft Corp, Canadian National Railway, Amazon.com, and CSX Corporation. They add up to ~43% of the entire portfolio.

 

Below is a spreadsheet that highlights the changes to John Armitage's Egerton Capital 13F stock portfolio as of Q1 2022. 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 Thomas Gayner's Markel Portfolio – Q4 2021 Update

• Gayner’s portfolio increased from $7.91B to $8.70B this quarter. 
• There were only minor adjustments this quarter. 
• Berkshire Hathaway at ~12% of the portfolio is by far the largest position. 

Thomas Gayner’s Markel Investment Portfolio value increased from $7.91B to $8.70B 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, Alphabet, Home Depot, and Amazon.com.

 

Markel Corporation (MKL) is currently trading at around 1.31-times Book Value (BV) at ~$1353 per share - BV is ~$1035.

 

Below is a spreadsheet that highlights the changes to the portfolio as of Q4 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 – Q4 2021 Update

• Michael Burry’s 13F portfolio value increased from $42M to $75M this quarter. 
• Scion Asset Management added Bristol-Myers Squibb, Fidelity National Financial, General Dynamic, and AEA-Bridges Impact while dropping CVS Health and Lockheed Martin this quarter.  
• The top three positions are Bristol-Myers Squibb, Fidelity National Financial, and General Dynamic. 

 Michael Burry’s 13F portfolio value increased from $42M to $75M this quarter. The portfolio is heavily concentrated with just 6 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 Q4 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 Bill & Melinda Gates Foundation Portfolio – Q4 2021 Update

• The huge ~$23B portfolio has 21 positions. 
• The largest stake, Berkshire Hathaway is at a whopping ~44% of the portfolio. 
• This quarter saw Berkshire Hathaway, Microsoft, and Grupo Televisa SA stake decreased while adding Canadian Pacific Railway and Sanderson Farms. 

 Gates Foundation portfolio value remained almost steady at ~$23B 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 over ten times that while the number of positions has gone down to just 21.

 

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 Q4 2021. Please visit our previous update 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 – Q4 2021 Update

• Michael Price’s 13F portfolio value increased from $865M to $905M this quarter. 
• MFP Investors increased Twitter and Trinity Place Holdings while reducing The Bancorp during the quarter. 
• The largest three individual stock positions are Intel Corporation S&W Seed Company, and Bunge and they add up to ~22% of the portfolio. 

 Michael Price’s 13F portfolio value increased from $865M to $905M 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, Anterix, and CIT Group. They add up to ~29% of the 13F portfolio.

 

Below is a spreadsheet that shows the changes to Michael Price's MFP Investors 13F portfolio holdings as of Q4 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 – Q4 2021 Update

• Robert & Jeffrey Bruce’s 13F portfolio value increased from $471M to $500M this quarter. 
• Bruce Fund decreased Apple & Amryt Pharma plc during the quarter. 
• The largest three individual stock positions are AMERCO, Nextera Energy, and AbbVie and they add up to ~28% of the portfolio. 

 Robert & Jeffrey Bruce’s 13F portfolio value increased from $471M to $500M this quarter. Recent 13F reports have shown a total of around 50 positions. The largest five individual stock positions are AMERCO, Nextera Energy, AbbVie, Bausch Health, and Allstate. They add up to ~43% 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 Q4 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 – Q4 2021 Update

•  Aquamarine Capital’s 13F portfolio value increased from $204M to $218M. 
• The portfolio was untouched this quarter. 
• Berkshire Hathaway, American Express, and Bank of America are the three largest positions. 

Guy Spier’s Aquamarine Capital Portfolio value decreased from $204M to $218M during the quarter. The portfolio is very concentrated with just 12 positions. The largest five positions are Berkshire Hathaway (BRK.A), American Express (AXP), Bank of America (BAC), Mastercard Inc. (MA), and Ferrari NV (RACE). They together add up to ~77% of the entire portfolio.

 

Below is a spreadsheet that highlights the changes to the portfolio as of Q4 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 – Q4 2021 Update

• John Armitage’s 13F portfolio value increased from $21.04B to $21.45B this quarter. 
• Egerton Capital added Lowes and increased Amazon.com and Shopify while reducing Linde plc & Meta Platforms and dropping Comcast. 
• Alphabet, Canadian Pacific, and Microsoft are the largest three positions in the portfolio. 

 John Arimitage’s 13F portfolio value increased from $21.04B to $21.45B this quarter. The portfolio is very concentrated with recent 13Fs listing around 30 positions. The largest five individual stock positions are Alphabet, Canadian Pacific, Microsoft Corp, CSX, and Charter Communications. They add up to ~41% of the entire portfolio.

 

Below is a spreadsheet that highlights the changes to John Armitage's Egerton Capital 13F stock portfolio as of Q4 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 .