Aquamarine Capital

I. Institutional Overview

The institutional profile of Aquamarine Capital, led by the renowned value investor Guy Spier, presents a masterclass in the philosophy of "active patience." As of the first quarter of 2026, the portfolio managed by Aquamarine Capital stands at a reported market value of approximately $135.30 million. While this figure might seem modest compared to the...

A deep dive into the institutional data reveals a portfolio comprised of only seven distinct holdings. This level of concentration is extraordinary in the modern investment landscape, where many institutional managers feel compelled to diversify across dozens or even hundreds of positions to mitigate perceived risk or to satisfy institutional mandates. For...

The scale trend of the portfolio reflects a stable and disciplined approach. With a total portfolio value of $135.30 million, the institution has maintained a consistent presence in its core positions. The fact that the number of stocks remains at seven indicates a "coffee can" portfolio approach, where the manager selects the best possible businesses and...