Century Management

Q1 2020 13F · by Arnold Van Den Berg, CIO

As of: Mar 31, 2020
Filed: Apr 30, 2020
US stock: $371M · prev $596M
Positions: 67 · prev 65
Options notional: $0
Documents: 1· no amendments

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 100.0%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves77 since the prior filing

+28.8 pp in · −28.9 pp out

New 19 +16.31 pp
Added 16 +12.50 pp
Trimmed 25 −11.63 pp
Exited 17 −17.23 pp

The book

Focused · behaves like 21 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

High turnover · 117% a year, about 0.9 years per position

Low
Moderate
High

Top 5 positions33% of US stock

BRK.B BERKSHIRE HATHAWAY Class B trimmed+3.05 pp trimmed+3.0514.4%
COR Cencora, Inc. trimmed+1.81 pp trimmed+1.814.8%
unresolved Colfax Corp added−0.68 pp added−0.684.7%
BOOM DMC Global Inc. trimmed−1.23 pp trimmed−1.234.5%
GOOG Alphabet Inc. Class C new+4.42 pp new+4.424.4%

Positions67 in this filing · 17 exited


BRK.BBERKSHIRE HATHAWAY Class B	14.36%	291,386	$53M	trimmed−2%	+3.05 pp	28 q
CORCencora, Inc.	4.82%	202,089	$18M	trimmed−4%	+1.81 pp	16 q
unresolvedColfax Corp	4.70%	881,291	$17M	added0%	−0.68 pp	22 q
BOOMDMC Global Inc.	4.51%	726,657	$17M	trimmed−5%	−1.23 pp	14 q
GOOGAlphabet Inc. Class C	4.42%	14,115	$16M	new	+4.42 pp	new
WFCWells Fargo & Co.	4.39%	567,000	$16M	trimmed−5%	−0.97 pp	28 q
METAMeta Platforms, Inc. Class A	4.08%	90,766	$15M	new	+4.08 pp	new
DLTRDollar Tree Inc.	3.84%	193,763	$14M	added+77%	+2.11 pp	8 q
DHRDanaher Corporation	3.65%	97,918	$14M	trimmed−3%	+1.05 pp	11 q
ATKRAtkore Inc.	3.52%	620,490	$13M	added+7%	−0.43 pp	14 q
MKLMarkel Group Inc.	3.40%	13,580	$13M	added×16.4	+3.24 pp	25 q
POSTPost Holdings, Inc.	3.34%	149,487	$12M	added+80%	+1.82 pp	10 q
MCKMcKesson Corporation	3.21%	88,165	$12M	trimmed−3%	+1.09 pp	17 q
KWKennedy-wilson Holdings, Inc.	3.03%	837,926	$11M	new	+3.03 pp	new
SEASeabridge Gold, Inc.	2.93%	1,164,076	$11M	trimmed−6%	+0.06 pp	26 q
0LW9Westrock Co	2.85%	373,665	$11M	added+3%	+0.23 pp	2 q
unresolvedBrookfield Asset Mgmt Inc	2.78%	233,375	$10M	added×32.7	+2.71 pp	2 q
SLBSLB Limited	2.77%	761,777	$10M	trimmed−4%	−2.55 pp	16 q
TRSTrimas Corporation	1.96%	314,217	$7M	trimmed−9%	+0.15 pp	14 q
IBKRInteractive Brokers Group, Inc. Class A	1.87%	160,659	$7M	added+16%	+0.79 pp	13 q
PEParsley Energy Inc	1.62%	1,050,711	$6M	added×12.5	+1.35 pp	3 q
COPConocoPhillips	1.58%	190,200	$6M	added×10.7	+1.39 pp	11 q
ULTAUlta Beauty, Inc.	1.52%	32,172	$6M	new	+1.52 pp	new
AIMCAltra Industrial Motion Corp.	1.49%	316,784	$6M	trimmed−8%	−0.61 pp	6 q
VZVerizon Communications	1.43%	98,881	$5M	trimmed−2%	+0.39 pp	11 q
ERABristow Group Inc.	1.33%	923,722	$5M	trimmed−38%	−1.22 pp	28 q
BATRKAtlanta Braves Holdings, Inc. Series C	1.33%	258,063	$5M	trimmed−4%	0.00 pp	16 q
PXDPioneer Natural Resource Co.	1.01%	53,284	$4M	new	+1.01 pp	new
ATIATI Inc.	1.00%	436,288	$4M	added+10%	−0.38 pp	20 q
TAT&T Inc.	0.82%	104,766	$3M	trimmed−7%	+0.08 pp	7 q
HALHalliburton Company	0.79%	428,665	$3M	trimmed−2%	−1.01 pp	28 q
GEFGreif, Inc.	0.63%	75,041	$2M	added+12%	+0.13 pp	3 q
DVNDevon Energy Corporation	0.52%	281,760	$2M	trimmed−4%	−0.75 pp	17 q
CMCOColumbus McKinnon Corp/NY	0.39%	58,036	$1M	held	—	9 q
unresolvedIi-Vi Inc	0.36%	47,500	$1M	new	+0.36 pp	new
MBUUMalibu Boats, Inc. Class A	0.32%	41,270	$1M	added+45%	+0.12 pp	3 q
FLIRFLIR Systems, Inc. (DE)	0.28%	32,260	$1M	added+39%	+0.08 pp	4 q
FWONKLiberty Media Corporation Series C Liberty Formula One	0.28%	38,097	$1M	trimmed−21%	−0.09 pp	16 q
AIRAAR Corp.	0.24%	49,705	$883,000	new	+0.24 pp	new
LKQLKQ Corporation	0.22%	39,245	$805,000	new	+0.22 pp	new
RRXRegal Rexnord Corporation	0.20%	11,850	$746,000	new	+0.20 pp	new
HLIOHelios Technologies, Inc.	0.19%	18,190	$690,000	held	—	4 q
STSensata Technologies Holding plc	0.16%	21,000	$608,000	new	+0.16 pp	new
ALKAlaska Air Group, Inc.	0.15%	19,515	$556,000	new	+0.15 pp	new
BMCHBMC Stock Holdings, Inc	0.15%	31,240	$554,000	new	+0.15 pp	new
CRSCarpenter Technology Corp	0.14%	27,265	$532,000	added+60%	0.00 pp	11 q
ITGRInteger Holdings Corporation	0.13%	7,500	$471,000	new	+0.13 pp	new
ROGRogers Corporation	0.13%	5,100	$482,000	new	+0.13 pp	new
STWDStarwood Property Trust, Inc.	0.13%	46,245	$474,000	new	+0.13 pp	new
RAVNRaven Industries Inc	0.12%	20,170	$428,000	new	+0.12 pp	new
HIHillenbrand, Inc.	0.11%	21,560	$412,000	trimmed−38%	−0.09 pp	2 q
IDCCInterDigital, Inc.	0.11%	9,250	$413,000	new	+0.11 pp	new
LODEComstock Inc.	0.09%	845,688	$343,000	trimmed−2%	+0.03 pp	2 q
CVXChevron Corporation	0.08%	4,141	$300,000	new	+0.08 pp	new
GOOGLAlphabet Inc. Class A	0.07%	212	$246,000	held	—	2 q
DGDollar General Corp.	0.07%	1,696	$256,000	new	+0.07 pp	new
XOMExxon Mobil Corp	0.07%	6,815	$259,000	added+56%	+0.02 pp	2 q
AEMAgnico Eagle Mines Ltd.	0.06%	5,280	$210,000	held	—	26 q
ZIXIZix Corporation	0.06%	50,000	$215,000	held	—	2 q
ALOTAstroNova, Inc.	0.05%	23,005	$179,000	trimmed−73%	−0.14 pp	8 q
CDEVPermian Resources Corporation	0.03%	369,050	$97,000	trimmed−82%	−1.52 pp	11 q
MURMurphy Oil Corp.	0.03%	18,900	$116,000	trimmed−91%	−0.90 pp	14 q
PTENPatterson-UTI Energy Inc	0.03%	52,841	$124,000	trimmed−95%	−1.83 pp	19 q
RIGTransocean LTD.	0.03%	95,517	$111,000	trimmed−95%	−2.27 pp	11 q
9990302DApache Corp	0.02%	20,273	$85,000	trimmed−98%	−4.16 pp	28 q
BTGB2Gold Corp.	0.01%	11,300	$35,000	held	—	22 q
YRIYamana Gold Inc	0.01%	13,795	$38,000	held	—	26 q
DISCKDiscovery Inc-c	—	−759,851	—	exited	−3.89 pp	—
GVAGranite Construction Inc.	—	−778,632	—	exited	−3.61 pp	—
BFHBread Financial Holdings, Inc.	—	−162,434	—	exited	−3.06 pp	—
MTWThe Manitowoc Company, Inc.	—	−601,952	—	exited	−1.77 pp	—
GLDSPDR Gold Trust, SPDR Gold Shares	—	−49,377	—	exited	−1.18 pp	—
VALPQValaris PLC	—	−875,933	—	exited	−0.96 pp	—
ACNTAscent Industries Co.	—	−299,726	—	exited	−0.65 pp	—
IWMiShares Russell 2000 ETF	—	−20,430	—	exited	−0.57 pp	—
RDIReading International, Inc Class A	—	−295,491	—	exited	−0.55 pp	—
CEFSprott Physical Gold and Silver Trust	—	−162,945	—	exited	−0.40 pp	—
LDLLydall, Inc.	—	−67,053	—	exited	−0.23 pp	—
DWSNDawson Geophysical Company New	—	−365,216	—	exited	−0.15 pp	—
FRACKeane Group, Inc.	—	−50,000	—	exited	−0.06 pp	—
POLAvient Corporation	—	−9,000	—	exited	−0.06 pp	—
SUSuncor Energy, Inc.	—	−9,295	—	exited	−0.05 pp	—
PLOWDouglas Dynamics, Inc.	—	−4,055	—	exited	−0.04 pp	—
UNTUNIT Corporation	—	−14,059	—	exited	0.00 pp	—