My top (>2%) positions in no particular order: FRFHF, BRKB, JPM, Fannie/Freddie prefs, EXXRF, DISCK, ISTB, LSXMA, NOV, TESB.BE, MKL, AAPL
Fixed income: 5%
(kinda): Insurance(FRFHF, BRK, MKL): 25%, Malone/media:
14%, Banks/financials: 9%, Oil: 4%, Tech: 3%, Various
owner-operators (not included in other categories): 15%
New positions: IVSBF, LCSHF
Positions increased: LSXMA, MCO, UHAL
Positions reduced: FRFHF, FRMO, SPND
My belief in good results of FRMO continues to drop, so I sold some. I reduced SPND position as it climbed a bit.
- I still like the (re)insurance side of the company. However, I am not
so sure about the investment side. Since Fairfax removed the stock
hedges that they put on couple years ago, this is no longer an
investment that would do well if market tanked. I reduced my position.
started a position in IVSBF, which is a family foundation controlled
holding company that holds pieces of various European companies. I like
their history and I hope that they can continue to produce reasonable
I bought initial position in LCSHF. It is not very cheap. I would probably add if it dropped.
I added some LSXMA, MCO, UHAL.
My 2016 return was ~21%. It is higher than SP500, but less than holding just BRK would have produced.
My 10 year annualized return is ~11%, which is higher than SP500 and BRK.