Guy Spier
Aquamarine Capital
Guy Spier (Aquamarine Capital) discloses a $144M portfolio across 7 US-listed positions in the latest 13F filing (2026Q2, filed Jul 10, 2026). The largest holding is BRK/B at 33.9% of the book.
About Guy Spier
Guy Spier manages Aquamarine Capital, a Zurich-based fund he founded in 1997 after an early career in investment banking that he has publicly described as formative in the wrong direction. He is best known for paying $650,100 alongside Mohnish Pabrai at a 2007 charity auction to have lunch with Warren Buffett — a transaction he treated as education rather than publicity, and which he later chronicled in his 2014 memoir The Education of a Value Investor. His style is concentrated, long-only, patient value with an explicit Buffett-Munger intellectual framework; the current 13F reflects that plainly, with Berkshire shares across two share classes comprising nearly half the disclosed book and AXP, MA, and MCO filling most of the remainder. At seven positions and 88% top-5 concentration on $144M in disclosed U.S. equities, the filing is essentially the whole story — there is little structural gap between the 13F and the actual equity book to account for.
2026Q2 brief
Guy Spier's Aquamarine Capital remained completely static in 2026Q2 — zero new positions, zero adds, zero trims, zero exits — a posture that itself signals conviction bordering on inertia, or perhaps the quiet confidence of a deep value disciple who found his portfolio years ago and stopped fidgeting. The $140M book holds just 7 positions, with BRK/B and BRK/A together consuming ~49.5% of the portfolio, an extraordinary doubling-down on the Buffett mothership. AXP (15.3%) and MA (14.3%) keep Aquamarine heavily tilted toward payment networks and financial infrastructure — a theme Spier shares with several Buffett disciples but at concentration levels most peers won't match. MCO (8.5%) and RACE (7.7%) round out the top six, blending Buffett-approved moat businesses with a luxury brand outlier. The top-5 at 87.5% of assets makes this one of the most concentrated books among tracked super-investors. DJCO (4.8%) remains a quiet nod to Charlie Munger's legacy. Watch the next filing for any trim in the dual BRK positions — if Spier ever rebalances that combined ~50% stake, it will be the most meaningful signal this portfolio has sent in years.
AI-generated. Not investment advice.
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Holdings (7) · click any column to sort
| #↑ | Ticker | Issuer | % Port. | This Q | History | Value |
|---|---|---|---|---|---|---|
| 1 | BRK/B | 33.9% | $49M | |||
| 2 | BRK/A | 15.6% | $22M | |||
| 3 | AXP | 15.3% | $22M | |||
| 4 | MA | 14.3% | $21M | |||
| 5 | MCO | 8.5% | $12M | |||
| 6 | RACE | 7.7% | $11M | |||
| 7 | DJCO | 4.8% | $7M |
- port33.9%val$49MBerkshire Hathaway Inc-cl Bthis Q hold·16q
- port15.6%val$22MBerkshire Hathaway Inc-cl Athis Q hold·16q
- 3AXPport15.3%val$22MAmerican Express COthis Q hold·16q
- 4MAport14.3%val$21MMastercard Inc - Athis Q hold·16q
- 5MCOport8.5%val$12MMoody's Corpthis Q hold·16q
- 6RACEport7.7%val$11MFerrari N Vthis Q hold·16q
- 7DJCOport4.8%val$7MDaily Journal Corpthis Q hold·16q
Frequently asked questions
- What stocks does Guy Spier own?
- As of 2026Q2, Guy Spier's 13F discloses 7 positions worth $144M. The top five holdings: BRK/B (33.9%), BRK/A (15.6%), AXP (15.3%), MA (14.3%), MCO (8.5%). 13F filings cover long US-listed equities only — cash, bonds, shorts, and non-US positions are not disclosed.
- What did Guy Spier buy this quarter?
- The 2026Q2 filing shows no new purchases — no new positions were opened and no existing holdings were added to this quarter.
- How big is Guy Spier's portfolio?
- $144M across 7 positions per the latest 13F (filed Jul 10, 2026). The top five holdings account for 88% of the disclosed book.
Explore more
Long US equity 13F-HR filings only — no shorts, no derivatives. SEC filings at EDGAR (CIK 0001953324). Not investment advice.