Portfolio 2026

[phil_Buffett]

iam a long term Board Member, was very long passive now back.

 

I start with my Portfolio for 2026. Iam not quite happy yet and probably will change something. Goal is to hold around 20 Holdings. 

 

Nintendo
Berkshire Hathaway
Visa
Exxon
S&P Global
Lindt & Sprüngli
Rational
Alphabet
Safran
Amazon
Mc Donalds
Philip Morris
Procter & Gamble
Diageo
Rentokil
Novo Nordisk
TKO Group
MGM Resort
Ferrari
Cellnex
Zoetis
Richemont
Biontech
 

Portfolio weighting descending

[Dave86ch]

Bitcoin

Alibaba

Meta

[coffeecaninvestor]

I turned my portfolio over this year after going too concentrated too quickly into positions. (I had big positions for me in JNJ and got frustrated before the run up and sold, and went to aggressive RTO and should have averaged in more slowly so I didn’t get anxious when it fell and could buy more). The plan is to hold 20-25 positions equal weight at cost so I can sleep better. I only have 3 full positions the rest are around 1/2 positions and I am dollar cost averaging into those weekly. 

 

ACN

ADBE

AJG

AMRZ - full position 

BAH

BRO

CHD

CNSWF - full position 

CP

CPRT

ELV

FND

KRE

ODFL

PYPL

PAYX

RTO - full position 

STZ

SYY

UNF

UNH

 

[73 Reds]

51 minutes ago, coffeecaninvestor said:

I turned my portfolio over this year after going too concentrated too quickly into positions. (I had big positions for me in JNJ and got frustrated before the run up and sold, and went to aggressive RTO and should have averaged in more slowly so I didn’t get anxious when it fell and could buy more). The plan is to hold 20-25 positions equal weight at cost so I can sleep better. I only have 3 full positions the rest are around 1/2 positions and I am dollar cost averaging into those weekly. 

 

ACN

ADBE

AJG

AMRZ - full position 

BAH

BRO

CHD

CNSWF - full position 

CP

CPRT

ELV

FND

KRE

ODFL

PYPL

PAYX

RTO - full position 

STZ

SYY

UNF

UNH

 

Not directed specifically at you or anyone in particular, but on a forum like this how can Fairfax Financial not be included in one's portfolio?  

[coffeecaninvestor]

22 hours ago, 73 Reds said:

Not directed specifically at you or anyone in particular, but on a forum like this how can Fairfax Financial not be included in one's portfolio?  

It’s on my watch list. I was close to pulling the trigger at $1600-$1500 range but then it took off. 

 

It also seems like a lot of people got in Fairfax prior to this run up when it was trading below BVPS, at 1.3x it is a little tougher decision for me. It wasn't on my radar then since I only got a COB&F membership less than 2 years ago. 

 

This could and probably is a mistake, but I will be patient, and wait for an opportunity to buy, 

 

Edited December 21, 2025 by coffeecaninvestor

[Whensthepaintdry?]

My holdings haven’t changed much. I added more to Google, Amazon, and Fairfax earlier on drops. I trimmed some brk and aapl. I don’t expect the names to look much different a year from now unless things get silly. I have some smaller holdings that never got to size. 

BRK 35%
GOOG 14%
FRFHF 14%
AMZN 11%
MKL 11%
JOE 5%

NNI 3%
BOC 2%
DJCO 2%
AAPL 2%
CROX 1%

 

[Milu]

No major changes for me, only activity was buy of chipotle and sale of lululemon (used last week’s bump to get out at $220 and essentially break even on the trade). Decided retail is not for me, I almost bought some Nike earlier this year too but thankfully talked myself out of it.

Tesla 17%

Meta 17%

Google 15%

Bitcoin 14%

LVMH 6%

Amazon 6%

Nintendo 5%

Dominos 3%

Chipotle 3%

Ethereum 2%

Cash 12%

Edited December 20, 2025 by Milu

[cwericb]

7 hours ago, 73 Reds said:

Not directed specifically at you or anyone in particular, but on a forum like this how can Fairfax Financial not be included in one's portfolio?  

 

YES.

 

Fairfax keeps compounding and their is every reason to believe that it will continue to do so into the foreseeable future. On top of that I doubt there is any stock that has been more closely examined than has been by this board. Several posters here have made it their mission to become virtual experts on the company. And yet, during the 20+ years existence of the board, there is always a percentage who do not hold Fairfax. I mean look at the chart for the past 5 years:

 

 

I have owned Fairfax for just shy of 20 years and had I dumped shares during slow times, I know I am not smart enough to time the market and jump back in at the most opportune time, so I have held on through thick and thin and am damn glad I did.

 

But I have trouble with how anyone on the Corner of Berkshire and "Fairfax" does not own shares in the company. And for those who are waiting to become a shareholder, what are you waiting for?? 

 

Coffeecaninvestor, you say you have been on the board for two years? Two years ago FFH shares were about $1200C, today it is at $2,500C, how long do you intend to wait? 

[TwoCitiesCapital]

Bitcoin - ~31%

FRFHF - ~12%

FIH - ~5%

Exor - ~4%

PROSY - ~3.25%

ATUSF - ~2.5%

BABA - ~2.5%

FMCCJ - ~2.25%

 

And then a dozen smaller positions in things like JACK, BBWI, ESI.TO, FOM.TO, ARE.TO, CSU that are all 1% or so of the total portfolio (probably closer to 2% weights ex-Bitcoin) and my fixed income investments. 

 

 

[coffeecaninvestor]

2 hours ago, cwericb said:

 

 

Coffeecaninvestor, you say you have been on the board for two years? Two years ago FFH shares were about $1200C, today it is at $2,500C, how long do you intend to wait? 

Good question, maybe I’ll buy a little on Monday just to loosen up to the idea to buying even more later. I have some BRK tucked away in an account that I ignore I’ll do the same for Fairfax. 

[cwericb]

1 minute ago, coffeecaninvestor said:

Good question, maybe I’ll buy a little on Monday just to loosen up to the idea to buying even more later. I have some BRK tucked away in an account that I ignore I’ll do the same for Fairfax. 

 

There were periods when it was frustrating to own Fairfax. The "ignore" part of your response worked for me. 

[moatrep]

10% greggs 

10% wyse

10% fairfax 

10% elf finantial

 

Smaller positions

5% paypal 

3% Kraft heinz 

3% pinduoduo 

3% constellation brands 

3% crocs 

2% bic s.a

2% oxy

1% united health 

 

40% ish cash to deploy.

(Sold some positions last week in smith and wesson, rio tinto, lululemon and elf finantial that liberated this cash)

 

 

Edited December 21, 2025 by moatrep

[villainx]

@TwoCitiesCapital originally going to say that your portfolio looks kinda strange, but I kinda get the theme or principle after looking up ATUSF and FMCCJ

Edited December 21, 2025 by villainx

[TwoCitiesCapital]

2 hours ago, villainx said:

@TwoCitiesCapital originally going to say that your portfolio looks kinda strange, but I kinda get the theme or principle after looking up ATUSF and FMCCJ

 

The theme is "discount to NAV"

 

FIH, Exor, and Prosus explicitly. 

 

Fairfax Financial and Altius based on my estimations of value. 

 

FMCCJ was a special situation that I've been locked in for over a decade, but have been reducing as the price ran following the election. 

[UK]

Main list: FFH, ERF, RTO, NOVO, GOOGL, JOE
Secondary list: CELH, CROX, LULU, JACK, LQDA, FISV, CSU, HSBK, IVL1L, PDD

 

No big changes in 2025, except for the new position in NOVO and recent increase in FFH:)

[coffeecaninvestor]

17 hours ago, Milu said:

 I almost bought some Nike earlier this year too but thankfully talked myself out of it.

I looked at NKE again this week.. I think it’s telling when you look how pathetic the insider buying has been. 

[73 Reds]

9 hours ago, TwoCitiesCapital said:

 

The theme is "discount to NAV"

 

FIH, Exor, and Prosus explicitly. 

 

Fairfax Financial and Altius based on my estimations of value. 

 

FMCCJ was a special situation that I've been locked in for over a decade, but have been reducing as the price ran following the election. 

Theme for me is always tail winds.  2025 adds to JOE, Fairfax Financial, new position in TGT (new CEO - finally!) and FL real estate.   Also bought a few dividend payers (SWBI, KW, WU, COP)  in only retirement account to have some additional tax-deferred money to play with via ideas from this board.  No sales except retirement account and none expected.

Edited December 21, 2025 by 73 Reds
spelling

[73 Reds]

5 minutes ago, dealraker said:

Cash very well may be the way to do comparatively well with 2026.  For me the 2025 year was a drudge of nothing with major holdings such as Berk, AJG, other ins brokers, Meta, Lowe's, Mondelez...da-dee-doo and such.  Only big holding that did much was Fairfax.

 

At the same time nearly all my meaningful additions of recent times did not only sorta well, but very well.  Teva continued its journey; Cushman and Wakefield ripped; my GE basket from buying before the split broke the glass ceiling with a vengeance working on being a quick 5 bagger; Constellation Energy is a 9 bagger and it continued its journey up; and re-buying First Solar was a good idea.  And then in the ole tax free account I made a quick 65%-ter in the ole Dolla General, a stock of course...but not a business I am fond of whatsoever.  And can't leave out that the ole Joe seems to be crawling back somewhat.  I didn't add personally but I own 25% of a business that sunk over $5 mil (relative to ownership by far the biggest addition for me in 2025) of my $ into this one just below $41.

 

So when the 2025 tally of performance comes along, once again as the norm for now going on 30 years of forum participation, I'll be on or near the bottom.  But at the same time I had a net worth of $1.35 mil in 1994 and I'd basically wager based on percentage gains that very few have the net worth gains that I have in the last 30...boring beyond belief as it may seem.  

The only thing better than a boring portfolio is a boring tax return schedule D.

[SharperDingaan]

CJ, IPO, OBE, NVO, UBS, BTC_ETF, Treasuries, and a lot of swing trades. If it goes our way, a material re-balancing into CAD infrastructure at the end of 2026/27/28. Three themes; volatility opportunities, growing dividends, and diversification.

 

Waiting on press releases of the big blowing up.  

 

SD

 

Edited December 21, 2025 by SharperDingaan

[Libs]

1 hour ago, dealraker said:

Cash very well may be the way to do comparatively well with 2026.  For me the 2025 year was a drudge of nothing with major holdings such as Berk, AJG, other ins brokers, Meta, Lowe's, Mondelez...da-dee-doo and such.  Only big holding that did much was Fairfax.

 

At the same time nearly all my meaningful additions of recent times did not only sorta well, but very well.  Teva continued its journey; Cushman and Wakefield ripped; my GE basket from buying before the split broke the glass ceiling with a vengeance working on being a quick 5 bagger; Constellation Energy is a 9 bagger and it continued its journey up; and re-buying First Solar was a good idea.  And then in the ole tax free account I made a quick 65%-ter in the ole Dolla General, a stock of course...but not a business I am fond of whatsoever.  And can't leave out that the ole Joe seems to be crawling back somewhat.  I didn't add personally but I own 25% of a business that sunk over $5 mil (relative to ownership by far the biggest addition for me in 2025) of my $ into this one just below $41.

 

So when the 2025 tally of performance comes along, once again as the norm for now going on 30 years of forum participation, I'll be on or near the bottom.  But at the same time I had a net worth of $1.35 mil in 1994 and I'd basically wager based on percentage gains that very few have the net worth gains that I have in the last 30...boring beyond belief as it may seem.  

 

Well at 12% CAGR, you'd have easily cracked $40 MM by now and that doesn't include $ added along the way....so I suspect it's a lot higher than that, brother!

Well done.

 

I'm glad Dealraker busted open the unwritten rule about putting some actual numbers up. I get it, no one wants to come off as bragging. But who the heck can you tell this stuff too? You can't discuss with friends or family. 

 

It's weird. The closest people to me in the world - who I share everything with - have no idea about something which has been the result of so much blood, sweat and tears over the years. 

[Gregmal]

Core four did their thing this year. Trading occasionally was fun and quite profitable. Only change of real

significance was running like hell from FRPH and dumping it all at $30 and reallocating to more MGM and Fairfax which proved quite timely in both directions. Not looking to do a whole lot otherwise. Liking how things look.

[73 Reds]

7 minutes ago, dealraker said:

I wasn't aware of the unwritten rule but over the years - and it doesn't include COBF - I'd become frustrated as to the absolute incredible short term nature of investment forums.  So in 1994-96 in Berkshire related investment forums I began posting actual figures and have continued to do intermittently since.  In 1994 I posted my shares of AJG and Berk and have generally done that at least once a year on whatever boards I'm participating with (COBF is my 4th participation, actually 3 but one changed places).

 

With a sub performing portfolio nearly every year as related to what most post up I do know that my outcome is somewhat over 14% annual, I do expect that to slowly decline which is not at all something negative.  And the outcome is still, each day, shocking...yet in my world of thinking would still be at 10% annual or whatever.  

 

So in some respects maybe it is a rebellion to think longer term as it relates to building net worth while not obsessing over yearly outcome.  While manlobbi transitioned us Berk-ers away from the Motley Fool boards while there we were sort of over-run with all kinds of shorter term turbo types and their vehicles.  Most frustrating was the Saul's people who followed their cult leader into his incredible figures of daily personal return posting of his SAAS stocks...only to see that get so mutilated via massive changes and juggling to the point where people who had followed and defended him were emailing me with "I lost 80% of my value and am in a panic of how to tell my wife" and such.

 

So to some degree I got mentored, thus I try to mentor.  I had no parents to help me so maybe I try to be dad to others.  But regardless I haven't done much but hold stocks messing around on the fringes, and it has been an incredible outcome.  So I publish it.  I thought about taking a photo of my brokerage account, I think it would shock most here to the point of taking your breath away as to what percentage of my portfolio is profits with so many stocks.  It did not get that way from active management, it got that way from time.

 

My guess is that Reds portfolio is somewhat similar, he's posted enough so that I sense that.  But it is not abnormal to have this type of outcome if you live long and stay invested.  

@dealraker 5 legacy holdings haven't changed (BRK, MSFT, HD, WMT and AAPL).  The investment thesis for these companies more or less remains in tact and like you, much of the value (90%+) is in gains so selling makes little sense since the $ is not needed anyway.  I don't post yearly performance and frankly don't know or care b/c value-wise more than half of investments (and growing) are not publicly traded and the price is far less relevant than performance.   

[cwericb]

50 minutes ago, Libs said:

 

But who the heck can you tell this stuff too? You can't discuss with friends or family. 

 

It's weird. The closest people to me in the world - who I share everything with - have no idea about something which has been the result of so much blood, sweat and tears over the years. 

 

Really! I'm kinda shocked at this.

 

Here I thought I was the only one like this. What's wrong with us? Last year my portfolio was up 50.8% and was very reluctant to brag about it to anyone in the family, other than to say that I had a good year. 

[TwoCitiesCapital]

1 hour ago, Libs said:

 

But who the heck can you tell this stuff too? You can't discuss with friends or family. 

 

 

Yea. When I cracked $1 million, the only person I told was my best friend whose also into investments. 

 

Not sure anyone else in the family would understand that for someone my age and background. I don't live like it and certainly don't want the expectations that might come along with it. 

[coffeecaninvestor]

I've never shared my net-worth with anyone other than my wife. I hinted that our home was paid for to one of my friends drunk one night, and they were in shock, what I didn't share is that our home is probably less than a third of our net-worth. The funny thing is we were never high earners just worked normal jobs and didn't inherit anything. Just busted our ass, sometimes worked 2 jobs, picked up OT, didn't go out and have $300 bar tabs when we were just out of college. Basically just saved an above average of our income, and was interested in investing since I was 16 years old. They made fun of me recently because my brand new 2024 corolla didn't have an automatic start. I paid for my car in cash, and didn't blink, yet they are financing the sofa to their home. It was an early decision in my life to be a millionaire by 40, and I greatly exceeded, thanks to the bull market of the last 10-15 years, but also thanks to learning early on about compound interest over a long duration can lead to great things.