Aquamarine Zurich (Guy Spier)

Aquamarine Zurich (Guy Spier) has filed 13F reports from Q4 2014 through Q4 2025. The portfolio has returned 15.0% annualized over five years, with 17.3% volatility and a maximum drawdown of 47.5%. Across all filing periods, 6.7% included restatements and 0.0% introduced new holdings. Review the fund’s investment style metrics, recent position changes, track record by individual position and sector, and related educational resources below.