My top (>2%) positions in no particular order: BRKB, FB, LSXMA, EXXRF, AAPL, DISCK, JPM, FRFHF, GOOG, MKL,
Fixed income: 2%
(kinda): Insurance (FRFHF, BRK, MKL): 19%, Malone/media: 9%,
Banks/financials: 11%, Cars: 0%, Oil: 0%, Medical/pharma: 1%, Tech: 25%,
Various owner-operators (not included in other categories): 7%
Positions increased: CVS
Positions reduced: VMW, JPM
Positions eliminated: WBA, REGN
Not much activity in terms of number of companies, but somewhat significant changes in some positions.
Sold WBA - not certain about future prospects. Added a bit to CVS where future potential seems more positive.
REGN - I probably should admit that I don't understand pharmas and I
don't bring any insight when investing in pharmas. I'll have to attempt
to not buy pharmas in the future.
Reduced VMW to a tracking position -
I think that further move to cloud infrastructure and containers will
reduce VMW business. Pivotal acquisition may counter this trend, but I
think growth is not assured.
Reduced JPM position significantly.
Although I think JPM may provide positive return in the future, I doubt
it will be high return. Considering that I have a large exposure to
banks through BRK, I decided to reduce JPM position significantly.