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Aquamarine Zurich AG

CIK:0001953324
Hedge Fund
$350M AUM
14 holdings
Zurich, Switzerland
Founded:2015
5 employees
Latest filing:Sep 30, 2025

Aquamarine Zurich AG, founded in 2015, is a Swiss asset manager headquartered in Zurich. The firm is licensed as a manager of collective investment schemes and is supervised by the Swiss Financial Market Supervisory Authority (FINMA). Aquamarine Zurich AG manages investment funds primarily inspired by value investing principles. The organization is associated with Guy Spier, who is founder and managing partner, and caters to both high-net-worth individuals and institutional clients.

Investment Strategy

Aquamarine Zurich AG employs a value investing strategy inspired by the original 1950s Buffett partnerships. The firm focuses on a concentrated portfolio of high-quality businesses trading at attractive valuations, often holding positions over the long term. The investment approach emphasizes careful analysis, capital preservation, and a margin of safety while investing primarily in established companies, as evidenced by their significant holdings in well-known firms such as Berkshire Hathaway, American Express, and Bank of America.

Latest 13F Filing Activity

Aquamarine Zurich AG filed their most recent 13F report on Sep 30, 2025 disclosing 14 equity positions with a total 13F market value of $317M. The fund increased holdings in Ferrari N V, Bank America Corp., Alibaba Group HLDG LTD among other positions. Aquamarine Zurich AG reduced exposure to Micron Technology Inc., Moodys Corp., Core Natural Resources Inc. among others.

Top Buys
R
RACEFERRARI N V
+$4.0M
B
BACBANK AMERICA CORP
+$3.3M
B
BABAALIBABA GROUP HLDG LTD
+$3.1M
A
AXPAMERICAN EXPRESS CO
+$2.8M
B
BRK-BBERKSHIRE HATHAWAY INC DEL
+$2.4M
Top Sells
M
MUMICRON TECHNOLOGY INC
-$11.3M
B
BRK-BBERKSHIRE HATHAWAY INC DEL
+$2.4M
G
GOOGLALPHABET INC
+$1.1M
B
BRK-ABERKSHIRE HATHAWAY INC DEL
+$762.0K
M
MCOMOODYS CORP
-$678.0K

Top Holdings

B
BRK-BBERKSHIRE HATHAWAY INC DEL
+22.3%$70.7M
A
AXPAMERICAN EXPRESS CO
+22.0%$69.8M
B
BACBANK AMERICA CORP
+12.5%$39.6M
M
MAMASTERCARD INCORPORATED
+11.8%$37.4M
R
RACEFERRARI N V
+9.1%$29.0M

Equity Positions (14)

TickerSecurityWeightMarket ValueSharesAvg CostPriceChange (QoQ)
BERKSHIRE HATHAWAY INC DEL22.27%$70.7M140,600$267.02$502.74+$2.4M
AMERICAN EXPRESS CO21.98%$69.8M210,000$134.91$332.16+$2.8M
BANK AMERICA CORP12.48%$39.6M767,845$30.20$51.59+$3.3M
MASTERCARD INCORPORATED11.78%$37.4M65,750$284.34$568.81+$451.0K
FERRARI N V9.13%$29.0M60,000$185.00$485.22+$4.0M

Industry Allocation

FIRE, MARINE & CASUALTY INSURANCE
+29.4%
FINANCE SERVICES
+22.0%
SERVICES-BUSINESS SERVICES, NEC
+14.5%
NATIONAL COMMERCIAL BANKS
+12.5%
MOTOR VEHICLES & PASSENGER CAR BODIES
+9.1%