Bronte Capital Management Pty Ltd. Activity Q4 2018-Q3 2023

Q3 2023

			Value		Shares		↓ Weighting
BRKB	Buy	BERKSHIRE HATHAWAY INC DELcl b new	$143,486,733	+5.6%	409,611	+2.8%	14.45%	+10.3%
REGN	Buy	REGENERON PHARMACEUTICALS	$116,401,108	+17.1%	141,442	+2.3%	11.72%	+22.3%
IBKR	Buy	INTERACTIVE BROKERS GROUP	$72,816,696	+4.8%	841,228	+0.6%	7.34%	+9.4%
	New	VISA INC-CLASS A SHARES	$66,871,497	–	290,733	–	6.74%	–
	New	VANGUARD INDEX FDSsml cp grw etf	$51,677,779	–	241,282	–	5.20%	–
HLF	Buy	HERBALIFE NUTRITION LTD	$43,669,323	+9.3%	3,121,467	+3.5%	4.40%	+14.2%
PM	Buy	PHILIP MORRIS INTL INC	$37,404,172	+40.9%	404,020	+48.6%	3.77%	+47.2%
PINS	Sell	PINTEREST INCcl a	$37,408,087	-3.7%	1,383,947	-2.6%	3.77%	+0.5%
FCNCA	Buy	FIRST CTZNS BANCSHARES INC Ncl a	$36,223,485	+9.0%	26,247	+1.4%	3.65%	+13.8%
AMZN	Buy	AMAZON COM INC	$36,194,115	+20.2%	284,724	+23.2%	3.65%	+25.5%
IBB	Sell	ISHARES TRishares biotech	$34,636,074	-16.8%	283,229	-13.6%	3.49%	-13.1%
CTVA	Buy	CORTEVA INC	$31,531,289	-8.8%	616,327	+2.1%	3.18%	-4.8%
HIBB	Buy	HIBBETT INC	$28,878,526	+40.7%	607,841	+7.5%	2.91%	+46.9%
MTCH	Buy	MATCH GROUP INC NEW	$24,938,727	+6.0%	636,598	+13.2%	2.51%	+10.7%
GHC	Buy	GRAHAM HLDGS CO	$14,266,010	+3.4%	24,470	+1.4%	1.44%	+8.0%
	Buy	SOTERA HEALTH CO	$12,513,783	-15.1%	835,366	+6.8%	1.26%	-11.3%
GOOG	Sell	ALPHABET INCcap stk cl c	$9,197,856	-24.3%	69,760	-30.5%	0.93%	-20.9%
SQM	Buy	SOCIEDAD QUIMICA Y MINERA DEspon adr ser b	$9,134,284	+62.9%	153,080	+98.2%	0.92%	+70.1%
GIS	Buy	GENERAL MLS INC	$8,882,196	-15.3%	138,806	+1.5%	0.90%	-11.6%
	New	VANECK ETF TRUSTgold miners etf	$8,012,775	–	297,762	–	0.81%	–
ATVI	Sell	ACTIVISION BLIZZARD INC	$6,527,415	-83.6%	69,715	-85.2%	0.66%	-82.9%
MDLZ	Sell	MONDELEZ INTL INCcl a	$4,135,893	-22.0%	59,595	-18.1%	0.42%	-18.6%
	New	VANECK ETF TRUSTjunior gold mine	$2,542,399	–	78,883	–	0.26%	–
DBTX	Exit	DECIBEL THERAPEUTICS INC	$0	–	-154,878	–	-0.06%	–
MO	Exit	ALTRIA GROUP INC	$0	–	-62,674	–	-0.27%	–
ALB	Exit	ALBEMARLE CORP	$0	–	-19,306	–	-0.42%	–
STT	Exit	STATE STR CORP	$0	–	-87,940	–	-0.62%	–
BK	Exit	BANK NEW YORK MELLON CORP	$0	–	-176,865	–	-0.76%	–
VBK	Exit	VANGUARD INDEX FDSsml cp grw etf	$0	–	-171,513	–	-3.80%	–
IWM	Exit	ISHARES TRrus 2000 grw etf	$0	–	-278,400	–	-6.52%	–
V	Exit	VISA INC	$0	–	-284,917	–	-6.53%	–

Q2 2023

			Value		Shares		↓ Weighting
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$135,822,346	–	398,306	–	13.10%	–
GOOGL	New	ALPHABET INCcap stk cl a	$130,763,991	–	1,092,431	–	12.61%	–
REGN	New	REGENERON PHARMACEUTICALS	$99,385,579	–	138,316	–	9.59%	–
IBKR	New	INTERACTIVE BROKERS GROUP	$69,483,985	–	836,451	–	6.70%	–
V	New	VISA INC	$67,662,089	–	284,917	–	6.53%	–
IWM	New	ISHARES TRrus 2000 grw etf	$67,556,544	–	278,400	–	6.52%	–
IBB	New	ISHARES TRishares biotech	$41,619,138	–	327,813	–	4.02%	–
HLF	New	HERBALIFE NUTRITION LTD	$39,943,756	–	3,016,900	–	3.85%	–
ATVI	New	ACTIVISION BLIZZARD INC	$39,712,971	–	471,091	–	3.83%	–
VBK	New	VANGUARD INDEX FDSsml cp grw etf	$39,403,397	–	171,513	–	3.80%	–
PINS	New	PINTEREST INCcl a	$38,852,382	–	1,421,082	–	3.75%	–
CTVA	New	CORTEVA INC	$34,572,815	–	603,365	–	3.34%	–
FCNCA	New	FIRST CTZNS BANCSHARES INC Ncl a	$33,236,221	–	25,896	–	3.21%	–
AMZN	New	AMAZON COM INC	$30,118,505	–	231,041	–	2.90%	–
PM	New	PHILIP MORRIS INTL INC	$26,541,511	–	271,886	–	2.56%	–
MTCH	New	MATCH GROUP INC NEW	$23,527,442	–	562,185	–	2.27%	–
HIBB	New	HIBBETT INC	$20,520,543	–	565,460	–	1.98%	–
	New	SOTERA HEALTH CO	$14,734,010	–	782,060	–	1.42%	–
GHC	New	GRAHAM HLDGS CO	$13,796,099	–	24,141	–	1.33%	–
GOOG	New	ALPHABET INCcap stk cl c	$12,142,848	–	100,379	–	1.17%	–
GIS	New	GENERAL MLS INC	$10,490,489	–	136,773	–	1.01%	–
BK	New	BANK NEW YORK MELLON CORP	$7,874,030	–	176,865	–	0.76%	–
	New	BATH & BODY WORKS INC	$7,148,138	–	190,617	–	0.69%	–
STT	New	STATE STR CORP	$6,435,449	–	87,940	–	0.62%	–
SQM	New	SOCIEDAD QUIMICA Y MINERA DEspon adr ser b	$5,608,515	–	77,231	–	0.54%	–
MDLZ	New	MONDELEZ INTL INCcl a	$5,305,364	–	72,736	–	0.51%	–
ALB	New	ALBEMARLE CORP	$4,306,976	–	19,306	–	0.42%	–
MO	New	ALTRIA GROUP INC	$2,839,132	–	62,674	–	0.27%	–
BNTX	New	BIONTECH SEsponsored ads	$2,536,247	–	23,499	–	0.24%	–
	New	RISKIFIED LTD	$2,493,690	–	513,105	–	0.24%	–
CTMX	New	CYTOMX THERAPEUTICS INC	$1,591,421	–	925,245	–	0.15%	–
DBTX	New	DECIBEL THERAPEUTICS INC	$596,280	–	154,878	–	0.06%	–

Q4 2022

			Value		Shares		↓ Weighting
DBTX	Exit	DECIBEL THERAPEUTICS INC	$0	–	-163,547	–	-0.07%	–
BNTX	Exit	BIONTECH SEsponsored ads	$0	–	-6,948	–	-0.12%	–
	Exit	RISKIFIED LTD	$0	–	-443,480	–	-0.22%	–
NPO	Exit	ENPRO INDS INC	$0	–	-30,613	–	-0.32%	–
AVLR	Exit	AVALARA INC	$0	–	-31,845	–	-0.36%	–
MDLZ	Exit	MONDELEZ INTL INCcl a	$0	–	-75,107	–	-0.51%	–
SHC	Exit	SOTERA HEALTH CO	$0	–	-824,197	–	-0.70%	–
	Exit	BATH & BODY WORKS INC	$0	–	-197,120	–	-0.80%	–
MO	Exit	ALTRIA GROUP INC	$0	–	-200,531	–	-1.01%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-99,727	–	-1.19%	–
ALB	Exit	ALBEMARLE CORP	$0	–	-41,894	–	-1.38%	–
GIS	Exit	GENERAL MLS INC	$0	–	-147,171	–	-1.40%	–
BK	Exit	BANK NEW YORK MELLON CORP	$0	–	-357,760	–	-1.72%	–
SQM	Exit	SOCIEDAD QUIMICA Y MINERA DEspon adr ser b	$0	–	-152,987	–	-1.73%	–
STT	Exit	STATE STR CORP	$0	–	-246,646	–	-1.87%	–
GHC	Exit	GRAHAM HLDGS CO	$0	–	-28,711	–	-1.92%	–
PM	Exit	PHILIP MORRIS INTL INC	$0	–	-199,194	–	-2.06%	–
HIBB	Exit	HIBBETT INC	$0	–	-463,695	–	-2.88%	–
IBB	Exit	ISHARES TRishares biotech	$0	–	-263,091	–	-3.83%	–
PINS	Exit	PINTEREST INCcl a	$0	–	-1,448,160	–	-4.20%	–
ATVI	Exit	ACTIVISION BLIZZARD INC	$0	–	-500,797	–	-4.64%	–
CTVA	Exit	CORTEVA INC	$0	–	-854,556	–	-6.08%	–
V	Exit	VISA INC	$0	–	-295,928	–	-6.55%	–
IBKR	Exit	INTERACTIVE BROKERS GROUP	$0	–	-861,270	–	-6.86%	–
HLF	Exit	HERBALIFE NUTRITION LTD	$0	–	-3,116,215	–	-7.72%	–
REGN	Exit	REGENERON PHARMACEUTICALS	$0	–	-147,175	–	-12.63%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-1,101,820	–	-13.12%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-424,197	–	-14.11%	–

Q3 2022

			Value		Shares		↓ Weighting
BRKB	Sell	BERKSHIRE HATHAWAY INC DELcl b new	$113,269,000	-51.4%	424,197	-50.3%	14.11%	+5.7%
GOOGL	Buy	ALPHABET INCcap stk cl a	$105,389,000	-56.1%	1,101,820	+900.0%	13.12%	-4.6%
REGN	Sell	REGENERON PHARMACEUTICALS	$101,384,000	-42.5%	147,175	-50.7%	12.63%	+24.9%
HLF	Sell	HERBALIFE NUTRITION LTD	$61,982,000	-49.4%	3,116,215	-48.0%	7.72%	+9.9%
IBKR	Sell	INTERACTIVE BROKERS GROUP	$55,044,000	-43.7%	861,270	-51.5%	6.86%	+22.4%
V	Sell	VISA INC	$52,572,000	-54.9%	295,928	-50.0%	6.55%	-2.0%
CTVA	Sell	CORTEVA INC	$48,838,000	-49.9%	854,556	-52.5%	6.08%	+8.9%
ATVI	Sell	ACTIVISION BLIZZARD INC	$37,229,000	-41.8%	500,797	-39.0%	4.64%	+26.5%
PINS	Sell	PINTEREST INCcl a	$33,742,000	-35.8%	1,448,160	-50.0%	4.20%	+39.4%
IBB	Sell	ISHARES TRishares biotech	$30,771,000	-54.0%	263,091	-53.7%	3.83%	-0.0%
HIBB	Sell	HIBBETT INC	$23,097,000	-30.3%	463,695	-38.8%	2.88%	+51.5%
PM	Sell	PHILIP MORRIS INTL INC	$16,535,000	-59.0%	199,194	-74.6%	2.06%	-11.0%
GHC	Sell	GRAHAM HLDGS CO	$15,446,000	-57.8%	28,711	-55.5%	1.92%	-8.2%
STT	Sell	STATE STR CORP	$14,999,000	-50.7%	246,646	-50.0%	1.87%	+7.2%
SQM	Sell	SOCIEDAD QUIMICA Y MINERA DEspon adr ser b	$13,884,000	-50.3%	152,987	-54.2%	1.73%	+8.0%
BK	Sell	BANK NEW YORK MELLON CORP	$13,781,000	-53.8%	357,760	-50.0%	1.72%	+0.4%
GIS	Sell	GENERAL MLS INC	$11,275,000	-54.7%	147,171	-55.4%	1.40%	-1.5%
ALB	Sell	ALBEMARLE CORP	$11,078,000	-51.6%	41,894	-61.8%	1.38%	+5.1%
GOOG	Buy	ALPHABET INCcap stk cl c	$9,589,000	-59.7%	99,727	+815.9%	1.19%	-12.5%
MO	Sell	ALTRIA GROUP INC	$8,097,000	-57.6%	200,531	-56.1%	1.01%	-7.8%
	Sell	BATH & BODY WORKS INC	$6,426,000	-0.4%	197,120	-17.8%	0.80%	+116.2%
SHC	Sell	SOTERA HEALTH CO	$5,621,000	-79.3%	824,197	-40.4%	0.70%	-54.9%
MDLZ	Sell	MONDELEZ INTL INCcl a	$4,118,000	-55.8%	75,107	-50.0%	0.51%	-3.9%
AVLR	Sell	AVALARA INC	$2,923,000	-26.0%	31,845	-43.1%	0.36%	+61.1%
NPO	Sell	ENPRO INDS INC	$2,601,000	-48.2%	30,613	-50.0%	0.32%	+12.5%
	New	RISKIFIED LTD	$1,747,000	–	443,480	–	0.22%	–
BNTX	Sell	BIONTECH SEsponsored ads	$937,000	-54.8%	6,948	-50.0%	0.12%	-1.7%
DBTX	Sell	DECIBEL THERAPEUTICS INC	$566,000	-58.9%	163,547	-50.0%	0.07%	-11.4%
NEM	Exit	NEWMONT CORP	$0	–	-105,148	–	-0.36%	–
MACK	Exit	MERRIMACK PHARMACEUTICALS IN	$0	–	-1,156,626	–	-0.39%	–
IWM	Exit	ISHARES TRcall	$0	–	-188,200	–	-1.83%	–
FB	Exit	META PLATFORMS INCcl a	$0	–	-203,250	–	-1.88%	–
IWO	Exit	ISHARES TRcall	$0	–	-270,000	–	-3.19%	–

Q2 2022

			Value		Shares		↓ Weighting
GOOGL	New	ALPHABET INCcap stk cl a	$240,116,000	–	110,182	–	13.76%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$232,992,000	–	853,388	–	13.35%	–
REGN	New	REGENERON PHARMACEUTICALS	$176,380,000	–	298,378	–	10.11%	–
HLF	New	HERBALIFE NUTRITION LTD	$122,564,000	–	5,993,322	–	7.02%	–
V	New	VISA INC	$116,530,000	–	591,856	–	6.68%	–
IBKR	New	INTERACTIVE BROKERS GROUP	$97,734,000	–	1,776,656	–	5.60%	–
CTVA	New	CORTEVA INC	$97,474,000	–	1,800,392	–	5.59%	–
IBB	New	ISHARES TRishares biotech	$66,878,000	–	568,538	–	3.83%	–
ATVI	New	ACTIVISION BLIZZARD INC	$63,970,000	–	821,610	–	3.67%	–
IWO	New	ISHARES TRcall	$55,704,000	–	270,000	–	3.19%	–
PINS	New	PINTEREST INCcl a	$52,598,000	–	2,896,320	–	3.01%	–
PM	New	PHILIP MORRIS INTL INC	$40,372,000	–	782,753	–	2.31%	–
GHC	New	GRAHAM HLDGS CO	$36,582,000	–	64,536	–	2.10%	–
HIBB	New	HIBBETT INC	$33,134,000	–	758,038	–	1.90%	–
FB	New	META PLATFORMS INCcl a	$32,774,000	–	203,250	–	1.88%	–
IWM	New	ISHARES TRcall	$31,874,000	–	188,200	–	1.83%	–
STT	New	STATE STR CORP	$30,412,000	–	493,292	–	1.74%	–
BK	New	BANK NEW YORK MELLON CORP	$29,844,000	–	715,520	–	1.71%	–
SQM	New	SOCIEDAD QUIMICA Y MINERA DEspon adr ser b	$27,930,000	–	334,370	–	1.60%	–
SHC	New	SOTERA HEALTH CO	$27,102,000	–	1,383,478	–	1.55%	–
GIS	New	GENERAL MLS INC	$24,890,000	–	329,878	–	1.43%	–
GOOG	New	ALPHABET INCcap stk cl c	$23,816,000	–	10,888	–	1.36%	–
ALB	New	ALBEMARLE CORP	$22,908,000	–	109,620	–	1.31%	–
MO	New	ALTRIA GROUP INC	$19,080,000	–	456,790	–	1.09%	–
MDLZ	New	MONDELEZ INTL INCcl a	$9,326,000	–	150,214	–	0.53%	–
MACK	New	MERRIMACK PHARMACEUTICALS IN	$6,882,000	–	1,156,626	–	0.39%	–
	New	BATH & BODY WORKS INC	$6,454,000	–	239,756	–	0.37%	–
NEM	New	NEWMONT CORP	$6,274,000	–	105,148	–	0.36%	–
NPO	New	ENPRO INDS INC	$5,020,000	–	61,262	–	0.29%	–
AVLR	New	AVALARA INC	$3,950,000	–	55,950	–	0.23%	–
BNTX	New	BIONTECH SEsponsored ads	$2,072,000	–	13,896	–	0.12%	–
DBTX	New	DECIBEL THERAPEUTICS INC	$1,378,000	–	327,094	–	0.08%	–

Q4 2021

			Value		Shares		↓ Weighting
DBTX	Exit	DECIBEL THERAPEUTICS INC	$0	–	-159,462	–	-0.09%	–
BNTX	Exit	BIONTECH SE-ADRsponsored ads	$0	–	-6,795	–	-0.14%	–
NPO	Exit	ENPRO INDS INC	$0	–	-30,000	–	-0.19%	–
MACK	Exit	MERRIMACK PHARMACEUTICALS IN	$0	–	-548,836	–	-0.19%	–
VIR	Exit	VIR BIOTECHNOLOGY INC	$0	–	-74,920	–	-0.24%	–
	Exit	BATH & BODY WORKS INC	$0	–	-59,794	–	-0.28%	–
NEM	Exit	NEWMONT CORP	$0	–	-72,921	–	-0.29%	–
MDLZ	Exit	MONDELEZ INTL INCcl a	$0	–	-79,715	–	-0.34%	–
SHC	Exit	SOTERA HEALTH CO	$0	–	-179,279	–	-0.34%	–
PM	Exit	PHILIP MORRIS INTL INC	$0	–	-106,293	–	-0.74%	–
GIS	Exit	GENERAL MLS INC	$0	–	-168,870	–	-0.74%	–
BYND	Exit	BEYOND MEAT INCput	$0	–	-100,000	–	-0.77%	–
MO	Exit	ALTRIA GROUP INC	$0	–	-287,561	–	-0.96%	–
GHC	Exit	GRAHAM HLDGS CO	$0	–	-25,399	–	-1.10%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-6,972	–	-1.36%	–
STT	Exit	STATE STR CORP	$0	–	-268,574	–	-1.66%	–
BK	Exit	BANK NEW YORK MELLON CORP	$0	–	-497,891	–	-1.89%	–
CTVA	Exit	CORTEVA NC	$0	–	-859,996	–	-2.65%	–
V	Exit	VISA INC	$0	–	-177,440	–	-2.89%	–
IBKR	Exit	INTERACTIVE BROKERS GROUP	$0	–	-868,725	–	-3.96%	–
REGN	Exit	REGENERON PHARMACEUTICALS	$0	–	-124,224	–	-5.50%	–
HLF	Exit	HERBALIFE NUTRITION LTD	$0	–	-2,345,486	–	-7.27%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-416,558	–	-8.32%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-49,176	–	-9.62%	–
IWO	Exit	ISHARES TRcall	$0	–	-462,700	–	-9.94%	–
SPY	Exit	SPDR S&P 500 ETF TRcall	$0	–	-42,400	–	-13.36%	–
IWM	Exit	ISHARES TRcall	$0	–	-156,100	–	-25.18%	–

Q3 2021

			Value		Shares		↓ Weighting
IWM	Buy	ISHARES TRcall	$344,102,000	+3.1%	156,100	+8.1%	25.18%	+5.8%
SPY	Sell	SPDR S&P 500 ETF TRcall	$182,640,000	-18.7%	42,400	-18.9%	13.36%	-16.6%
IWO	Sell	ISHARES TRcall	$135,844,000	-16.1%	462,700	-10.9%	9.94%	-13.9%
BRKB	Sell	BERKSHIRE HATHAWAY INC DELcl b new	$113,695,000	-3.5%	416,558	-1.8%	8.32%	-1.0%
HLF	Buy	HERBALIFE NUTRITION LTD	$99,402,000	-16.4%	2,345,486	+4.1%	7.27%	-14.2%
REGN	Buy	REGENERON PHARMACEUTICALS	$75,178,000	+14.6%	124,224	+5.8%	5.50%	+17.6%
IBKR	Buy	INTERACTIVE BROKERS GROUP	$54,156,000	-3.3%	868,725	+1.9%	3.96%	-0.8%
CTVA	Buy	CORTEVA NC	$36,189,000	-0.9%	859,996	+4.5%	2.65%	+1.7%
GHC	Buy	GRAHAM HLDGS CO	$14,964,000	+0.5%	25,399	+8.1%	1.10%	+3.1%
GIS	New	GENERAL MLS INC	$10,102,000	–	168,870	–	0.74%	–
PM	New	PHILIP MORRIS INTL INC	$10,076,000	–	106,293	–	0.74%	–
SHC	New	SOTERA HEALTH CO	$4,688,000	–	179,279	–	0.34%	–
MDLZ	Buy	MONDELEZ INTL INCcl a	$4,638,000	+6.4%	79,715	+14.2%	0.34%	+9.0%
NEM	Buy	NEWMONT CORP	$3,960,000	-14.2%	72,921	+0.1%	0.29%	-11.9%
	New	BATH & BODY WORKS INC	$3,769,000	–	59,794	–	0.28%	–
VIR	New	VIR BIOTECHNOLOGY INC	$3,261,000	–	74,920	–	0.24%	–
NPO	New	ENPRO INDS INC	$2,614,000	–	30,000	–	0.19%	–
BNTX	Sell	BIONTECH SE-ADRsponsored ads	$1,855,000	-24.4%	6,795	-38.0%	0.14%	-22.3%

Q2 2021

			Value		Shares		↓ Weighting
IWM	New	ISHARES TRcall	$333,643,000	–	144,400	–	23.79%	–
SPY	New	SPDR S&P 500 ETF TRcall	$224,759,000	–	52,300	–	16.03%	–
IWO	New	ISHARES TRcall	$161,923,000	–	519,500	–	11.55%	–
GOOGL	New	ALPHABET INC-CL Acap stk cl a	$120,077,000	–	49,176	–	8.56%	–
HLF	New	HERBALIFE NUTRITION LTD	$118,846,000	–	2,253,861	–	8.47%	–
BRKB	New	BERKSHIRE HATHAWAY INC-CL Bcl b new	$117,836,000	–	423,993	–	8.40%	–
REGN	New	REGENERON PHARMACEUTICALS	$65,611,000	–	117,469	–	4.68%	–
IBKR	New	INTERACTIVE BROKERS GRO-CL A	$56,013,000	–	852,162	–	3.99%	–
V	New	VISA INC-CLASS A SHARES	$41,489,000	–	177,440	–	2.96%	–
CTVA	New	CORTEVA INC	$36,511,000	–	823,242	–	2.60%	–
BK	New	BANK OF NEW YORK MELLON CORP	$25,507,000	–	497,891	–	1.82%	–
STT	New	STATE STREET CORP	$22,098,000	–	268,574	–	1.58%	–
GOOG	New	ALPHABET INC-CL Ccap stk cl c	$17,474,000	–	6,972	–	1.25%	–
BYND	New	BEYOND MEAT INCput	$15,749,000	–	100,000	–	1.12%	–
GHC	New	GRAHAM HOLDINGS CO-CLASS B	$14,892,000	–	23,493	–	1.06%	–
MO	New	ALTRIA GROUP INC	$13,711,000	–	287,561	–	0.98%	–
NEM	New	NEWMONT CORP	$4,616,000	–	72,829	–	0.33%	–
MDLZ	New	MONDELEZ INTERNATIONAL INC-Acl a	$4,359,000	–	69,807	–	0.31%	–
MACK	New	MERRIMACK PHARMACEUTICALS IN	$3,507,000	–	548,836	–	0.25%	–
BNTX	New	BIONTECH SE-ADRsponsored ads	$2,454,000	–	10,963	–	0.18%	–
DBTX	New	DECIBEL THERAPEUTICS INC	$1,371,000	–	159,462	–	0.10%	–

Q4 2020

			Value		Shares		↓ Weighting
MACK	Exit	MERRIMACK PHARMACEUTICALS IN	$0	–	-531,510	–	-0.36%	–
GHC	Exit	GRAHAM HLDGS CO	$0	–	-10,171	–	-0.68%	–
STT	Exit	STATE STR CORP	$0	–	-271,026	–	-2.81%	–
BK	Exit	BANK NEW YORK MELLON CORP	$0	–	-490,085	–	-2.96%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-14,490	–	-4.14%	–
NEM	Exit	NEWMONT CORP	$0	–	-380,903	–	-4.22%	–
CTVA	Exit	CORTEVA NC	$0	–	-835,714	–	-4.85%	–
SPY	Exit	SPDR S&P 500 ETF TRcall	$0	–	-15,000	–	-8.88%	–
IBKR	Exit	INTERACTIVE BROKERS GROUP	$0	–	-1,305,296	–	-10.94%	–
V	Exit	VISA INC	$0	–	-397,957	–	-12.73%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-47,198	–	-13.43%	–
HLF	Exit	HERBALIFE NUTRITION LTD	$0	–	-2,061,245	–	-16.38%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-495,183	–	-17.61%	–

Q3 2020

			Value		Shares		↓ Weighting
BRKB	Buy	BERKSHIRE HATHAWAY INC DELcl b new	$99,977,000	+38.1%	495,183	+22.1%	17.61%	+38.6%
HLF	Sell	HERBALIFE NUTRITION LTD	$93,045,000	-0.7%	2,061,245	-1.1%	16.38%	-0.3%
GOOGL	Buy	ALPHABET INCcap stk cl a	$76,277,000	+24.5%	47,198	+9.3%	13.43%	+25.0%
V	Sell	VISA INC	$72,313,000	-7.9%	397,957	-2.1%	12.73%	-7.5%
IBKR	Buy	INTERACTIVE BROKERS GROUP	$62,093,000	+19.8%	1,305,296	+5.2%	10.94%	+20.3%
SPY	Sell	SPDR S&P 500 ETF TRcall	$50,445,000	-59.3%	15,000	-62.5%	8.88%	-59.2%
CTVA	Sell	CORTEVA NC	$27,562,000	+22.9%	835,714	-0.1%	4.85%	+23.4%
NEM	Buy	NEWMONT CORP	$23,936,000	+18.3%	380,903	+16.2%	4.22%	+18.8%
GOOG	Sell	ALPHABET INCcap stk cl c	$23,488,000	+2.3%	14,490	-10.8%	4.14%	+2.7%
BK	New	BANK NEW YORK MELLON CORP	$16,839,000	–	490,085	–	2.96%	–
STT	New	STATE STR CORP	$15,963,000	–	271,026	–	2.81%	–
GHC	New	GRAHAM HLDGS CO	$3,868,000	–	10,171	–	0.68%	–
MACK	New	MERRIMACK PHARMACEUTICALS IN	$2,052,000	–	531,510	–	0.36%	–
GDXJ	Exit	VANECK VECTORS ETF TRjr gold miners e	$0	–	-147,463	–	-1.28%	–
GDX	Exit	VANECK VECTORS ETF TRgold miners etf	$0	–	-420,737	–	-2.71%	–

Q2 2020

			Value		Shares		↓ Weighting
SPY	New	SPDR S&P 500 ETF TRcall	$124,012,000	–	40,000	–	21.75%	–
HLF	New	HERBALIFE NUTRITION LTD	$93,732,000	–	2,083,862	–	16.44%	–
V	New	VISA INC	$78,519,000	–	406,475	–	13.77%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$72,406,000	–	405,613	–	12.70%	–
GOOGL	New	ALPHABET INCcap stk cl a	$61,248,000	–	43,192	–	10.74%	–
IBKR	New	INTERACTIVE BROKERS GROUP	$51,834,000	–	1,240,933	–	9.09%	–
GOOG	New	ALPHABET INCcap stk cl c	$22,967,000	–	16,247	–	4.03%	–
CTVA	New	CORTEVA NC	$22,421,000	–	836,923	–	3.93%	–
NEM	New	NEWMONT CORP	$20,230,000	–	327,666	–	3.55%	–
GDX	New	VANECK VECTORS ETF TRgold miners etf	$15,433,000	–	420,737	–	2.71%	–
GDXJ	New	VANECK VECTORS ETF TRjr gold miners e	$7,311,000	–	147,463	–	1.28%	–

Q4 2019

			Value		Shares		↓ Weighting
IIVI	Exit	II VI INC	$0	–	-11,833	–	-0.12%	–
WRLD	Exit	WORLD ACCEP CORP DEL	$0	–	-55,108	–	-1.94%	–
SPY	Exit	SPDR S&P 500 ETF TRcall	$0	–	-360,000	–	-2.95%	–
TSLA	Exit	TESLA INCput	$0	–	-60,400	–	-4.02%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-15,496	–	-5.22%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-2,352,994	–	-5.82%	–
CTVA	Exit	CORTEVA NC	$0	–	-800,603	–	-6.20%	–
IBKR	Exit	INTERACTIVE BROKERS GROUP	$0	–	-716,305	–	-10.65%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-36,809	–	-12.43%	–
V	Exit	VISA INC	$0	–	-317,972	–	-15.12%	–
HLF	Exit	HERBALIFE NUTRITION LTD	$0	–	-1,477,317	–	-15.47%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-348,683	–	-20.06%	–

Q3 2019

			Value		Shares		↓ Weighting
BRKB	Buy	BERKSHIRE HATHAWAY INC DELcl b new	$72,533,000	+22.2%	348,683	+25.2%	20.06%	-5.2%
HLF	Buy	HERBALIFE NUTRITION LTD	$55,931,000	+22.0%	1,477,317	+37.8%	15.47%	-5.3%
V	Buy	VISA INC	$54,694,000	+17.3%	317,972	+18.4%	15.12%	-9.0%
GOOGL	Buy	ALPHABET INCcap stk cl a	$44,949,000	+39.3%	36,809	+23.5%	12.43%	+8.1%
IBKR	Buy	INTERACTIVE BROKERS GROUP	$38,523,000	+36.4%	716,305	+37.4%	10.65%	+5.8%
CTVA	New	CORTEVA NC	$22,417,000	–	800,603	–	6.20%	–
GE	Buy	GENERAL ELECTRIC CO	$21,036,000	+10.3%	2,352,994	+29.5%	5.82%	-14.4%
GOOG	Buy	ALPHABET INCcap stk cl c	$18,890,000	+35.6%	15,496	+20.3%	5.22%	+5.2%
SPY	Buy	SPDR S&P 500 ETF TRcall	$10,684,000	+160.5%	360,000	+2471.4%	2.95%	+102.1%
WRLD	Sell	WORLD ACCEP CORP DEL	$7,027,000	-59.4%	55,108	-47.7%	1.94%	-68.5%
IIVI	Buy	II VI INC	$417,000	+20.2%	11,833	+24.6%	0.12%	-7.3%

Q2 2019

			Value		Shares		↓ Weighting
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$59,355,000	–	278,440	–	21.15%	–
V	New	VISA INC	$46,625,000	–	268,657	–	16.62%	–
HLF	New	HERBALIFE NUTRITION LTD	$45,832,000	–	1,071,844	–	16.33%	–
GOOGL	New	ALPHABET INCcap stk cl a	$32,274,000	–	29,806	–	11.50%	–
IBKR	New	INTERACTIVE BROKERS GROUP	$28,253,000	–	521,264	–	10.07%	–
GE	New	GENERAL ELECTRIC CO	$19,078,000	–	1,816,994	–	6.80%	–
WRLD	New	WORLD ACCEP CORP DEL	$17,298,000	–	105,405	–	6.16%	–
GOOG	New	ALPHABET INCcap stk cl c	$13,929,000	–	12,886	–	4.96%	–
TSLA	New	TESLA INCput	$13,497,000	–	60,400	–	4.81%	–
SPY	New	SPDR S&P 500 ETF TRcall	$4,102,000	–	14,000	–	1.46%	–
IIVI	New	II VI INC	$347,000	–	9,493	–	0.12%	–

Bronte Capital Management Pty Ltd. is a registered-investment adviser.

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