Latest Transactions of Guy Spier Q1 2025

Highlights

Biggest Buys

Core Natural Resources (CNR) Aquamarine Capital initiated a new position in Core Natural Resources, acquiring 8,100 shares at an average purchase price of approximately $82 per share. While the specific public operational details of "Core Natural Resources" under the CNR ticker can be niche, Guy Spier's investment indicates he has identified what he perceives as a compelling value proposition or special situation within this natural resources entity. This aligns with his investment framework of finding often overlooked or misunderstood companies that offer a significant margin of safety.

Biggest Sells

Arch Resources Inc. (ARCH-OLD) Spier sold 8,100 shares designated as ARCH-OLD, representing the legacy holding in Arch Resources Inc., completely liquidating this position at an average selling price of approximately $119 per share. Arch Resources is a U.S. coal producer. The "-OLD" ticker indicates these were likely shares from a previous corporate structure or an older holding period. This sale finalizes Aquamarine's exit from this particular coal investment. The identical share count to the CNR purchase suggests a potential direct redeployment of this capital.

Guy Spier's Q1 2025 reported transactions at Aquamarine Capital were notably precise, highlighting a direct shift from a legacy coal investment (Arch Resources - OLD) to a new venture in another natural resources company (Core Natural Resources). This focused reallocation, involving an identical number of shares in the sell and the new buy, suggests a deliberate rotation within the resources sector. Such a move is characteristic of Spier's value investing principles: patiently waiting for opportunities and making thoughtful adjustments when a more attractive, ethically aligned investment that meets his margin of safety criteria is identified.

All Transactions

The information is provided for educational purposes only and does not constitute financial advice or recommendation and should not be considered as such. Do your own research.