Guy Spier | Aquamarine Capital Management, Llc

This pages lists all securities owned by Aquamarine Capital Management, Llc going back to 2014 Q4. At the top of the list are companies that have been held the longest such as Mastercard Incorporated, Wells Fargo & Company, and Ferrari N.V..

Name	Ticker	Quarters Owned	First Quarter Owned	Latest Quarter Owned	Min % of Portfolio	Avg % of Portfolio	Max % of Portfolio
Mastercard Incorporated	MA	30	'14 Q4	'22 Q1	3.75%	7.70%	14.67%
Wells Fargo & Company	WFC	26	'14 Q4	'21 Q1	2.35%	3.70%	4.99%
Ferrari N.V.	RACE	25	'16 Q1	'22 Q1	5.63%	11.00%	21.30%
Moody's Corporation	MCO	25	'16 Q1	'22 Q1	1.58%	2.96%	5.40%
Seritage Growth Properties	SRG	25	'16 Q1	'22 Q1	0.75%	4.12%	8.59%
Fiat Chrysler Automobiles N		24	'14 Q4	'20 Q3	5.56%	14.84%	22.41%
American Express Company	AXP	23	'14 Q4	'22 Q1	11.40%	14.04%	17.80%
Bank of America Corporation	BAC	23	'14 Q4	'22 Q1	6.99%	11.10%	15.98%
Berkshire Hathaway Inc Del		23	'14 Q4	'22 Q1	3.98%	5.21%	7.19%
Berkshire Hathaway Inc Del		23	'14 Q4	'22 Q1	12.35%	16.26%	22.49%

Industry Breakdown

Disclaimer: Investor holdings are derived from 13F filings which are required to be filed by all institutional investment managers with at least $100 million in assets under management. Limitations to this data include but are not limited to: (1) SEC does not review 13Fs for accuracy or completeness, (2) cash, foreign stocks, short positions, and a variety of other assets are not required to be reported, (3) 13Fs are often filed 45 days after the end of the quarter, by which time a manager's positions and outlook could have changed significantly, (4) the market value does not tell us at what price the manager acquired the asset, and (5) data is only available starting mid 2013. Please do your own research before drawing any conclusions from this data.