# Lourd Capital, LLC

> Institutional holdings reported to the SEC as of Q2 2019 on Form 13F. CIK 1568190. Source: https://holderbook.com/funds/1568190-lourd-capital-llc/

- Reported value: $1.1B
- Positions: 127
- Weight of the ten largest: 90.3%
- Filed: 2019-07-11

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| BERKSHIRE HATHAWAY INC DEL | [BRKA](https://holderbook.com/stocks/BRKA/) | $668.2M | 2,099 | 62.0% | 3 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $98.5M | 461,914 | 9.1% | 3 |
| VANGUARD INDEX FDS | [VBR](https://holderbook.com/stocks/VBR/) | $62.6M | 479,334 | 5.8% | 3 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $34.7M | 1,197,075 | 3.2% | 3 |
| VANGUARD INDEX FDS | [VNQ](https://holderbook.com/stocks/VNQ/) | $33.8M | 386,481 | 3.1% | 3 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $28.2M | 106,793 | 2.6% | 3 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $18.9M | 247,215 | 1.8% | 3 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $10.0M | 80,165 | 0.9% | 3 |
| DAILY JOURNAL CORP | [DJCO](https://holderbook.com/stocks/DJCO/) | $9.8M | 41,331 | 0.9% | 3 |
| WELLS FARGO & CO | [WFC](https://holderbook.com/stocks/WFC/) | $8.4M | 178,340 | 0.8% | 3 |
| INTERNATIONAL BUSINESS MACHS | [IBM](https://holderbook.com/stocks/IBM/) | $6.1M | 44,329 | 0.6% | 3 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $5.9M | 29,577 | 0.5% | 3 |
| J P MORGAN EXCHANGE TRADED F | [BBRE](https://holderbook.com/stocks/BBRE/) | $5.3M | 63,591 | 0.5% | 3 |
| IAC INTERACTIVECORP | [IACXXXX](https://holderbook.com/stocks/IACXXXX/) | $4.7M | 21,637 | 0.4% | 3 |
| STATE STR SPDR S&P MIDCAP 40 | [MDY](https://holderbook.com/stocks/MDY/) | $4.3M | 12,003 | 0.4% | 3 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $3.7M | 27,507 | 0.3% | 3 |
| VANGUARD INDEX FDS | [VTI](https://holderbook.com/stocks/VTI/) | $3.0M | 19,895 | 0.3% | 3 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $2.8M | 1,459 | 0.3% | 3 |
| VANGUARD INTL EQUITY INDEX F | [VSS](https://holderbook.com/stocks/VSS/) | $2.6M | 24,630 | 0.2% | 3 |
| AMERICAN EXPRESS CO | [AXP](https://holderbook.com/stocks/AXP/) | $2.4M | 19,518 | 0.2% | 3 |
| ISHARES TR | [IWM](https://holderbook.com/stocks/IWM/) | $2.3M | 14,987 | 0.2% | 3 |
| SPOTIFY TECHNOLOGY S A | [SPOT](https://holderbook.com/stocks/SPOT/) | $2.2M | 15,003 | 0.2% | 3 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $2.0M | 18,648 | 0.2% | 3 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $1.6M | 8,071 | 0.1% | 3 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $1.5M | 5,779 | 0.1% | 3 |
| DISNEY WALT CO | [DIS](https://holderbook.com/stocks/DIS/) | $1.5M | 10,709 | 0.1% | 3 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $1.5M | 10,454 | 0.1% | 3 |
| COCA COLA CO | [KO](https://holderbook.com/stocks/KO/) | $1.5M | 28,562 | 0.1% | 3 |
| PFIZER INC | [PFE](https://holderbook.com/stocks/PFE/) | $1.4M | 32,821 | 0.1% | 3 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $1.3M | 4,459 | 0.1% | 3 |
| ISHARES TR | [TIP](https://holderbook.com/stocks/TIP/) | $1.3M | 11,254 | 0.1% | 3 |
| NORDSTROM INC | [JWN](https://holderbook.com/stocks/JWN/) | $1.3M | 39,561 | 0.1% | 3 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $1.2M | 11,059 | 0.1% | 3 |
| ISHARES TR | [SCZ](https://holderbook.com/stocks/SCZ/) | $1.2M | 20,536 | 0.1% | 3 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $1.1M | 1,035 | 0.1% | 3 |
| APACHE CORP | [APAXXXX](https://holderbook.com/stocks/APAXXXX/) | $1.1M | 37,573 | 0.1% | 3 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $1.1M | 977 | 0.1% | 3 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $1.0M | 18,768 | 0.1% | 3 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $1.0M | 3,447 | 0.1% | 3 |
| STARS GROUP INC | [TSG](https://holderbook.com/stocks/TSG/) | $945.0K | 55,350 | 0.1% | 3 |
| ISHARES TR | [EFA](https://holderbook.com/stocks/EFA/) | $939.0K | 14,282 | 0.1% | 3 |
| IDEXX LABS INC | [IDXX](https://holderbook.com/stocks/IDXX/) | $921.0K | 3,344 | 0.1% | 3 |
| HERSHEY CO | [HSY](https://holderbook.com/stocks/HSY/) | $909.0K | 6,782 | 0.1% | 3 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $907.0K | 5,228 | 0.1% | 3 |
| AUTOMATIC DATA PROCESSING IN | [ADP](https://holderbook.com/stocks/ADP/) | $883.0K | 5,340 | 0.1% | 3 |
| SPDR SERIES TRUST | [SHM](https://holderbook.com/stocks/SHM/) | $827.0K | 16,905 | 0.1% | 3 |
| 3M CO | [MMM](https://holderbook.com/stocks/MMM/) | $823.0K | 4,750 | 0.1% | 3 |
| INTERCONTINENTAL EXCHANGE IN | [ICE](https://holderbook.com/stocks/ICE/) | $822.0K | 9,567 | 0.1% | 3 |
| BOEING CO | [BA](https://holderbook.com/stocks/BA/) | $749.0K | 2,057 | 0.1% | 3 |
| GENERAL ELECTRIC CO | [GEXXXX](https://holderbook.com/stocks/GEXXXX/) | $735.0K | 70,000 | 0.1% | 3 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $731.0K | 3,517 | 0.1% | 3 |
| ABBOTT LABORATORIES | [ABT](https://holderbook.com/stocks/ABT/) | $664.0K | 7,897 | 0.1% | 3 |
| AT&T INC | [T](https://holderbook.com/stocks/T/) | $625.0K | 18,640 | 0.1% | 3 |
| BRISTOL-MYERS SQUIBB CO | [BMY](https://holderbook.com/stocks/BMY/) | $607.0K | 13,374 | 0.1% | 3 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $574.0K | 10,067 | 0.1% | 3 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $561.0K | 2,300 | 0.1% | 3 |
| ISHARES TR | [IWF](https://holderbook.com/stocks/IWF/) | $557.0K | 3,543 | 0.1% | 3 |
| JPMORGAN CHASE & CO | [AMJ](https://holderbook.com/stocks/AMJ/) | $528.0K | 21,039 | 0.0% | 3 |
| NIKE INC | [NKE](https://holderbook.com/stocks/NKE/) | $520.0K | 6,198 | 0.0% | 3 |
| INTEL CORP | [INTC](https://holderbook.com/stocks/INTC/) | $516.0K | 10,769 | 0.0% | 3 |
| ROYAL DUTCH SHELL PLC | [RDSA](https://holderbook.com/stocks/RDSA/) | $508.0K | 7,814 | 0.0% | 3 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $491.0K | 3,742 | 0.0% | 3 |
| UNITED TECHNOLOGIES CORP | [UTX](https://holderbook.com/stocks/UTX/) | $484.0K | 3,717 | 0.0% | 3 |
| MORGAN STANLEY | [MS](https://holderbook.com/stocks/MS/) | $467.0K | 10,652 | 0.0% | 3 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $451.0K | 6,200 | 0.0% | 3 |
| VANGUARD BD INDEX FDS | [BSV](https://holderbook.com/stocks/BSV/) | $451.0K | 5,600 | 0.0% | 3 |
| VANGUARD TAX-MANAGED FDS | [VEA](https://holderbook.com/stocks/VEA/) | $451.0K | 10,809 | 0.0% | 2 |
| THERMO FISHER SCIENTIFIC INC | [TMO](https://holderbook.com/stocks/TMO/) | $447.0K | 1,521 | 0.0% | 3 |
| VERIZON COMMUNICATIONS INC | [VZ](https://holderbook.com/stocks/VZ/) | $444.0K | 7,773 | 0.0% | 3 |
| EMERSON ELEC CO | [EMR](https://holderbook.com/stocks/EMR/) | $435.0K | 6,513 | 0.0% | 3 |
| CITIGROUP INC | [C](https://holderbook.com/stocks/C/) | $434.0K | 6,196 | 0.0% | 3 |
| ISHARES TR | [IWD](https://holderbook.com/stocks/IWD/) | $431.0K | 3,388 | 0.0% | 3 |
| TWITTER INC | [TWTR](https://holderbook.com/stocks/TWTR/) | $422.0K | 12,099 | 0.0% | 3 |
| TEXAS INSTRS INC | [TXN](https://holderbook.com/stocks/TXN/) | $413.0K | 3,596 | 0.0% | 3 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $412.0K | 3,723 | 0.0% | 3 |
| COMCAST CORP NEW | [CMCSA](https://holderbook.com/stocks/CMCSA/) | $392.0K | 9,265 | 0.0% | 3 |
| WASTE MGMT INC DEL | [WM](https://holderbook.com/stocks/WM/) | $389.0K | 3,369 | 0.0% | 3 |
| ISHARES TR | [IJH](https://holderbook.com/stocks/IJH/) | $369.0K | 1,898 | 0.0% | 3 |
| NETFLIX INC | [NFLX](https://holderbook.com/stocks/NFLX/) | $368.0K | 1,001 | 0.0% | 3 |
| ZOETIS INC | [ZTS](https://holderbook.com/stocks/ZTS/) | $363.0K | 3,201 | 0.0% | 3 |
| TRIPADVISOR INC | [TRIP](https://holderbook.com/stocks/TRIP/) | $353.0K | 7,631 | 0.0% | 3 |
| VANGUARD INDEX FDS | [VTV](https://holderbook.com/stocks/VTV/) | $353.0K | 3,180 | 0.0% | 2 |
| ZILLOW GROUP INC | [Z](https://holderbook.com/stocks/Z/) | $352.0K | 7,592 | 0.0% | 3 |
| PHILIP MORRIS INTL INC | [PM](https://holderbook.com/stocks/PM/) | $349.0K | 4,444 | 0.0% | 3 |
| VERTEX PHARMACEUTICALS INC | [VRTX](https://holderbook.com/stocks/VRTX/) | $342.0K | 1,863 | 0.0% | 3 |
| ISHARES TR | [IYR](https://holderbook.com/stocks/IYR/) | $335.0K | 3,839 | 0.0% | 3 |
| LIONS GATE ENTMNT CORP | [LGFB](https://holderbook.com/stocks/LGFB/) | $334.0K | 28,800 | 0.0% | 2 |
| STARBUCKS CORP | [SBUX](https://holderbook.com/stocks/SBUX/) | $334.0K | 3,986 | 0.0% | 3 |
| MCDONALDS CORP | [MCD](https://holderbook.com/stocks/MCD/) | $331.0K | 1,593 | 0.0% | 3 |
| ADOBE INC | [ADBE](https://holderbook.com/stocks/ADBE/) | $329.0K | 1,116 | 0.0% | 3 |
| BAXTER INTL INC | [BAX](https://holderbook.com/stocks/BAX/) | $329.0K | 4,011 | 0.0% | 3 |
| UNION PAC CORP | [UNP](https://holderbook.com/stocks/UNP/) | $328.0K | 1,937 | 0.0% | 3 |
| RAYTHEON CO | [RTN](https://holderbook.com/stocks/RTN/) | $321.0K | 1,844 | 0.0% | 3 |
| VANGUARD INTL EQUITY INDEX F | [VWO](https://holderbook.com/stocks/VWO/) | $317.0K | 7,447 | 0.0% | 2 |
| AMERICAN TOWER CORP | [AMT](https://holderbook.com/stocks/AMT/) | $316.0K | 1,545 | 0.0% | 3 |
| SALESFORCE INC | [CRM](https://holderbook.com/stocks/CRM/) | $316.0K | 2,084 | 0.0% | 3 |
| CME GROUP INC | [CME](https://holderbook.com/stocks/CME/) | $314.0K | 1,620 | 0.0% | 3 |
| GRUBHUB INC | [GRUBXXXX](https://holderbook.com/stocks/GRUBXXXX/) | $305.0K | 3,908 | 0.0% | 3 |
| ISHARES TR | [IJR](https://holderbook.com/stocks/IJR/) | $305.0K | 3,902 | 0.0% | 3 |
| HONEYWELL INTL INC | [HONZZZZ](https://holderbook.com/stocks/HONZZZZ/) | $296.0K | 1,695 | 0.0% | 3 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2019 | +4.8% | +3.7% | +1.1% | 100% |
| Q1 2019 | +3.8% | +13.0% | -9.2% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2019 | $1.1B | 127 |
| Q1 2019 | $1.0B | 123 |
| Q4 2018 | $1.3B | 307 |