Aquamarine Zurich AG
•CIK: 1953324•Filing: Q4 2025
**Aquamarine Zurich AG** manages $148M across a concentrated portfolio of seven holdings. The fund exhibits significant conviction in defensive and industrial value, evidenced by its top three positions: Berkshire Hathaway Class B ($49.1M), American Express ($24.0M), and Mastercard ($22.8M). These core allocations represent over 65% of the current AUM, suggesting a focus on established, resilient market leaders. The remaining positions include notable stakes in Berkshire Hathaway Class A ($22.6M) and Union Pacific ($13.8M).
Total AUM
$147.5M
QoQ Performance
-53.5%
Positions
6
Top 10 Concentration
100.0%
Latest Filing
Q4 2025
Top Holdings Allocation
BRK/B
AXP
MA
BRK/A
DUT
RACE
BRK/B33.3%
AXP16.3%
MA15.5%
BRK/A15.3%
DUT9.3%
RACE6.5%
DJCO3.8%
📈 Biggest Buys
No new positions or increases this quarter
📉 Biggest Sells
Sector Breakdown
Financial80.4%
Other19.6%
🚪 Exited Positionssold since Q3 2025
+2 more exited positions
Changes from Q3 2025
↓4 decreased
Historical Filings
Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023