Aquamarine Zurich AG Long-Term Concentrated

CIK: 0001953324 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Jan 15, 2026

Total Value ($000): $148 (100.0% shares, 0.0% debt)

Holdings (7)

Exited Positions (7)

BAC BANK AMERICA CORP 26.8%

Value ($000) $40 Shares 767,845 Est. Cost $30.59 Unrealized +72.2%

MU MICRON TECHNOLOGY INC 9.1%

Value ($000) $13 Shares 80,000 Est. Cost $56.91 Unrealized +303.0%

BABA ALIBABA GROUP HLDG LTD 5.8%

Value ($000) $8 Shares 47,500 Est. Cost $80.00 Unrealized —

GOOGL ALPHABET INC 2.6%

Value ($000) $4 Shares 16,000 Est. Cost $95.11 Unrealized +200.3%

SRG SERITAGE GROWTH PPTYS 1.4%

Value ($000) $2 Shares 500,000 Est. Cost $11.44 Unrealized -66.9%

AMR ALPHA METALLURGICAL RESOUR I 0.9%

Value ($000) $1 Shares 8,000 Est. Cost $309.65 Unrealized -44.2%

CNR CORE NATURAL RESOURCES INC 0.6%

Value ($000) $1 Shares 10,740 Est. Cost $84.05 Unrealized +1.3%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
BAC	BANK AMERICA CORP	767,845	$40	26.8%	$30.59	+72.2%	—	060505104
MU	MICRON TECHNOLOGY INC	80,000	$13	9.1%	$56.91	+303.0%	—	595112103
BABA	ALIBABA GROUP HLDG LTD	47,500	$8	5.8%	$80.00	—	—	01609W102
GOOGL	ALPHABET INC	16,000	$4	2.6%	$95.11	+200.3%	—	02079K305
SRG	SERITAGE GROWTH PPTYS	500,000	$2	1.4%	$11.44	-66.9%	—	81752R100
AMR	ALPHA METALLURGICAL RESOUR I	8,000	$1	0.9%	$309.65	-44.2%	—	020764106
CNR	CORE NATURAL RESOURCES INC	10,740	$1	0.6%	$84.05	+1.3%	—	218937100

Decreased Positions (4)

AXP AMERICAN EXPRESS CO 16.3%

Value ($000) $24 (-65.5%) Shares 65,000 (-69.0%) Est. Cost $144.95 Unrealized +146.3%

BRK/B BERKSHIRE HATHAWAY INC DEL 33.3%

Value ($000) $49 (-30.6%) Shares 97,600 (-30.6%) Est. Cost $284.56 Unrealized +74.8%

RACE FERRARI N V 6.5%

Value ($000) $10 (-67.0%) Shares 30,000 (-50.0%) Est. Cost $199.38 Unrealized +100.7%

MA MASTERCARD INCORPORATED 15.5%

Value ($000) $23 (-38.9%) Shares 40,000 (-39.2%) Est. Cost $325.17 Unrealized +71.9%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
AXP	AMERICAN EXPRESS CO	65,000 (-69.0%)	$24 (-65.5%)	16.3%	$144.95	+146.3%	COM	025816109
BRK/B	BERKSHIRE HATHAWAY INC DEL	97,600 (-30.6%)	$49 (-30.6%)	33.3%	$284.56	+74.8%	CL B NEW	084670702
RACE	FERRARI N V	30,000 (-50.0%)	$10 (-67.0%)	6.5%	$199.38	+100.7%	COM	N3167Y103
MA	MASTERCARD INCORPORATED	40,000 (-39.2%)	$23 (-38.9%)	15.5%	$325.17	+71.9%	CL A	57636Q104

Unchanged Positions (3)

MCO MOODYS CORP 9.3%

Value ($000) $14 Shares 27,000 Est. Cost $282.31 Unrealized +72.6%

DJCO DAILY JOURNAL CORP 3.8%

Value ($000) $6 Shares 11,500 Est. Cost $264.01 Unrealized +68.3%

BRK/A BERKSHIRE HATHAWAY INC DEL 15.3%

Value ($000) $23 Shares 30 Est. Cost $428128.38 Unrealized +74.3%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MCO	MOODYS CORP	27,000	$14	9.3%	$282.31	+72.6%	COM	615369105
DJCO	DAILY JOURNAL CORP	11,500	$6	3.8%	$264.01	+68.3%	COM	233912104
BRK/A	BERKSHIRE HATHAWAY INC DEL	30	$23	15.3%	$428128.38	+74.3%	CL A	084670108