# Guy Spier — Aquamarine Capital

Portfolio USD 144,091,000 · 7 positions · 2026 Q2 · history from 2014 Q4.
Source: quarterly 13F filings via dataroma.com. Page: https://gigainvestors.com/aq

## Positions (2026 Q2)

| Ticker | Company | % of portfolio | Value | This quarter | Holders |
|---|---|---:|---:|---|---:|
| BRK.B | Berkshire Hathaway CL B | 34% | USD 48,838,000 | hold |  |
| BRK.A | Berkshire Hathaway CL A | 16% | USD 22,466,000 | hold |  |
| AXP | American Express | 15% | USD 21,986,000 | hold |  |
| MA | Mastercard Inc. | 14% | USD 20,544,000 | hold |  |
| MCO | Moody's Corp. | 8.5% | USD 12,229,000 | hold |  |
| RACE | Ferrari NV | 7.7% | USD 11,114,000 | hold |  |
| DJCO | Daily Journal Corp. | 4.8% | USD 6,914,000 | hold |  |

## Moves this quarter (0)


## Portfolio value by quarter

- 2014 Q4: USD 138,758,131 (12 positions)
- 2015 Q1: USD 127,635,687 (10 positions)
- 2015 Q2: USD 143,527,623 (13 positions)
- 2015 Q3: USD 120,024,319 (13 positions)
- 2015 Q4: USD 125,181,830 (13 positions)
- 2016 Q1: USD 117,807,500 (16 positions)
- 2016 Q2: USD 110,856,343 (16 positions)
- 2016 Q3: USD 125,486,499 (16 positions)
- 2016 Q4: USD 149,204,739 (16 positions)
- 2017 Q1: USD 162,243,867 (16 positions)
- 2017 Q2: USD 163,848,006 (17 positions)
- 2017 Q3: USD 197,018,772 (17 positions)
- 2017 Q4: USD 208,780,411 (17 positions)
- 2018 Q1: USD 208,114,965 (17 positions)
- 2018 Q2: USD 212,509,864 (17 positions)
- 2018 Q3: USD 207,805,986 (15 positions)
- 2018 Q4: USD 177,699,397 (14 positions)
- 2019 Q1: USD 181,239,540 (11 positions)
- 2019 Q2: USD 193,218,520 (11 positions)
- 2019 Q3: USD 197,934,628 (12 positions)
- 2019 Q4: USD 217,252,820 (12 positions)
- 2020 Q1: USD 146,642,742 (11 positions)
- 2020 Q2: USD 137,313,793 (13 positions)
- 2020 Q3: USD 151,598,509 (13 positions)
- 2020 Q4: USD 171,408,131 (12 positions)
- 2021 Q1: USD 191,395,064 (12 positions)
- 2021 Q2: USD 213,163,806 (13 positions)
- 2021 Q3: USD 203,940,991 (13 positions)
- 2021 Q4: USD 217,565,874 (13 positions)
- 2022 Q1: USD 220,635,418 (13 positions)
- 2022 Q2: USD 170,245,792 (12 positions)
- 2022 Q3: USD 164,372,241 (12 positions)
- 2022 Q4: USD 185,888,293 (12 positions)
- 2023 Q1: USD 193,360,082 (12 positions)
- 2023 Q2: USD 209,716,363 (12 positions)
- 2023 Q3: USD 202,847,519 (12 positions)
- 2023 Q4: USD 228,763,176 (12 positions)
- 2024 Q1: USD 261,934,317 (12 positions)
- 2024 Q2: USD 262,557,198 (14 positions)
- 2024 Q3: USD 285,594,414 (14 positions)
- 2024 Q4: USD 287,633,550 (14 positions)
- 2025 Q1: USD 293,673,172 (14 positions)
- 2025 Q2: USD 309,811,622 (14 positions)
- 2025 Q3: USD 317,371,056 (14 positions)
- 2025 Q4: USD 147,527,737 (7 positions)
- 2026 Q1: USD 135,303,265 (7 positions)
- 2026 Q2: USD 144,091,000 (7 positions)