Aquamarine Capital Management 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

OMB APPROVAL

OMB Number:		3235-0006
Expires:	Oct 31, 2018
Estimated average burden
hours per response:		23.8

COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
AMERICAN EXPRESS CO	COM	25816109	21,282	272,430	SH		SOLE		272,430	0	0
BANK OF AMERICA CORP	COM	60505104	9,060	590,000	SH		SOLE		590,000	0	0
BANK OF AMERICA CORP	W Exp 1/16/19	60505146	1,878	320,000	SH		SOLE		320,000	0	0
BERKSHIRE HATHAWAY INC. DEL	CL A	84670108	6,525	30	SH		SOLE		30	0	0
BERKSHIRE HATHAWAY INC. DEL	CL B	84670702	20,291	140,600	SH		SOLE		140,600	0	0
CITIGROUP INC	COM NEW	172967424	5,461	106,000	SH		SOLE		106,000	0	0
CRESUD SA COMERCIAL	W Exp 05/22/15	P3311R192	6	271,944	SH		SOLE		271,944	0	0
FIAT CHRYSLER AUTOMOBILES	SHS	N31738102	32,542	2,000,000	SH		SOLE		2,000,000	0	0
GENERAL MOTORS CO	W Exp 07/10/19	37045V126	19,650	1,000,000	SH		SOLE		1,000,000	0	0
HORSEHEAD HOLDING CORP	COM	440694305	16,711	1,320,000	SH		SOLE		1,320,000	0	0
MASTERCARD INC	CL A	57636Q104	5,680	65,750	SH		SOLE		65,750	0	0
POSCO	Sponsored ADR	693483109	3,826	70,000	SH		SOLE		70,000	0	0
WELLS FARGO & CO NEW	COM	949746101	6,256	115,000	SH		SOLE		115,000	0	0
WELLS FARGO & CO	W Exp 10/28/18	949746119	2,254	110,000	SH		SOLE		110,000	0	0