In short: BOUGHT — the month's add for the American portfolio, at a stated price of $114.1, "tomorrow at the market opening." The reasoning is one line — "Let's add some quality, Wide Moat stocks this month!" — with no valuation, screen or trigger given. Already the portfolio's third-largest holding at 15.0% and its third-best performer at roughly +34%, so this is an add to a winner, not a new position.
This fund holds American companies that Morningstar's analysts judge to have a "wide moat" — a durable structural advantage that should let them keep earning high returns for a couple of decades — and, importantly, buys them only when Morningstar also thinks they are cheap relative to its own estimate of fair value. So it is a quality screen with a valuation step attached, which makes it an unusually close match to the way the rest of this archive picks individual shares.
The August purchase is a top-up: money goes in at the next market open, at a quoted $114.1, into a position that is already 15% of the American portfolio and its third-best performer at roughly +34%. No price target, screen or trigger is offered — the whole justification is one sentence about adding wide-moat exposure this month, which is a materially thinner standard than the equity book's named limit prices.
In short: BOUGHT — $500 at the Monday open, current price $100.80. The rationale is an explicit echo of the AGM: "Warren Buffett always buys companies with moats. We'll add some to our Wide Moat stocks." Currently 11.6% of the American ETF portfolio, and the second-largest cumulative gainer in it: two prior purchases (November 2023 at $73.5 and April 2024 at $85.8) now stand at +38.30% and +18.50%. The same top-up is repeated on 20 August.
This fund holds American companies that Morningstar's analysts judge to have a durable competitive advantage — a "wide moat" — and that are trading below what those analysts think they are worth. It is a rules-based way of owning the sort of business this whole newsletter is about.
The reason for buying more this month is stated in one line, straight from the Omaha weekend: "Warren Buffett always buys companies with moats."
It is currently 11.6% of the American ETF portfolio, and the two earlier purchases — November 2023 and April 2024 — are up 38% and 19%. The new purchase is $500 at the Monday opening, at a price of $100.80. Note the sizing: every single transaction in this portfolio, going back to 2023, is $500. The discipline is regular fixed amounts, not timing.
In short: Disclosed holding, not re-rated. 12.5% of the American book at roughly +19%. Two purchases: November 2023 at $73.5 (+28.75%) and April 2024 at $85.8 (+10.32%), marked at $94.63. Its non-American twin (GOAT.AS) is at roughly +11% over the same period — the moat screen has worked materially better in the US.
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Verbatim excerpts from the public transcripts (auto-pulled at each mention's timestamp, lightly cleaned). Timestamps link into the video; "source page" opens that commentator's full analysis at this row. Click a mention's header line to expand it (one open at a time). For personal study — not investment advice.