Century Management

Q1 2021 13F · by Arnold Van Den Berg, CIO

As of: Mar 31, 2021
Filed: May 14, 2021
US stock: $457M · prev $397M
Positions: 69 · prev 63
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%

Moves67 since the prior filing

+9.2 pp in · −9.2 pp out

New 8 +2.49 pp
Added 23 +6.74 pp
Trimmed 34 −5.47 pp
Exited 2 −3.72 pp

The book

Focused · behaves like 27 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 36% a year, about 2.8 years per position

Low
Moderate
High

Top 5 positions31% of US stock

BRK.B BERKSHIRE HATHAWAY Class B trimmed−0.75 pp trimmed−0.7510.9%
PXD Pioneer Natural Resource Co. added+4.48 pp added+4.486.4%
GOOG Alphabet Inc. Class C trimmed+0.05 pp trimmed+0.055.1%
META Meta Platforms, Inc. Class A trimmed−0.37 pp trimmed−0.374.4%
ATKR Atkore Inc. trimmed+0.16 pp trimmed+0.164.1%

Positions69 in this filing · 2 exited


BRK.BBERKSHIRE HATHAWAY Class B	10.86%	194,291	$50M	trimmed−2%	−0.75 pp	32 q
PXDPioneer Natural Resource Co.	6.36%	183,182	$29M	added×2.8	+4.48 pp	5 q
GOOGAlphabet Inc. Class C	5.08%	11,226	$23M	trimmed−2%	+0.05 pp	5 q
METAMeta Platforms, Inc. Class A	4.43%	68,735	$20M	trimmed−2%	−0.37 pp	5 q
ATKRAtkore Inc.	4.06%	258,402	$19M	trimmed−32%	+0.16 pp	18 q
unresolvedBrookfield Asset Mgmt Inc	3.60%	370,230	$16M	added+3%	−0.15 pp	6 q
DLTRDollar Tree Inc.	3.60%	143,903	$16M	trimmed−2%	−0.38 pp	12 q
SLBSLB Limited	3.18%	534,010	$15M	trimmed−2%	+0.18 pp	20 q
SEASeabridge Gold, Inc.	3.16%	892,205	$14M	trimmed−0%	−1.58 pp	30 q
DGDollar General Corp.	2.95%	66,561	$13M	added×67.9	+2.90 pp	5 q
unresolvedColfax Corp	2.94%	306,439	$13M	trimmed−2%	−0.08 pp	26 q
0LW9Westrock Co	2.71%	238,448	$12M	trimmed−2%	+0.05 pp	6 q
BOOMDMC Global Inc.	2.68%	225,706	$12M	trimmed−3%	+0.16 pp	18 q
VRSNVeriSign Inc	2.62%	60,282	$12M	added+67%	+0.66 pp	3 q
KWKennedy-wilson Holdings, Inc.	2.55%	576,143	$12M	trimmed−1%	−0.08 pp	5 q
MKLMarkel Group Inc.	2.44%	9,807	$11M	trimmed−2%	−0.15 pp	29 q
FANGDiamondback Energy, Inc.	2.40%	149,044	$11M	trimmed−1%	+0.57 pp	3 q
COPConocoPhillips	2.30%	198,944	$11M	trimmed−1%	+0.27 pp	15 q
PHYSSprott Physical Gold Trust	2.00%	680,440	$9M	added+2%	−0.53 pp	2 q
DHRDanaher Corporation	1.96%	39,847	$9M	added0%	−0.26 pp	15 q
AIMCAltra Industrial Motion Corp.	1.88%	155,709	$9M	trimmed−2%	−0.34 pp	10 q
POSTPost Holdings, Inc.	1.77%	76,508	$8M	trimmed−2%	−0.21 pp	14 q
CIThe Cigna Group	1.61%	30,543	$7M	trimmed−1%	0.00 pp	2 q
TAT&T Inc.	1.56%	235,583	$7M	trimmed−1%	−0.16 pp	11 q
IBKRInteractive Brokers Group, Inc. Class A	1.56%	97,469	$7M	trimmed−15%	−0.20 pp	17 q
VNTVontier Corporation	1.54%	232,415	$7M	added+1%	−0.39 pp	2 q
MCKMcKesson Corporation	1.52%	35,648	$7M	trimmed−0%	−0.04 pp	3 q
CRICarter's Inc.	1.49%	76,815	$7M	added+1%	−0.32 pp	2 q
LKQLKQ Corporation	1.29%	138,938	$6M	added+3%	+0.09 pp	2 q
CORCencora, Inc.	1.19%	45,918	$5M	new	+1.19 pp	new
MSFTMicrosoft Corp	1.15%	22,243	$5M	trimmed−1%	−0.10 pp	3 q
AIRAAR Corp.	1.07%	117,778	$5M	trimmed−41%	−0.74 pp	2 q
CERNCerner Corp	1.05%	67,071	$5M	added+1%	−0.26 pp	3 q
POWLPowell Industries Inc	1.02%	137,933	$5M	added+99%	+0.51 pp	2 q
JPMJPMorgan Chase & Co.	0.98%	29,358	$4M	trimmed−63%	−1.58 pp	4 q
WDAYWorkday, Inc. Class A	0.91%	16,803	$4M	trimmed−1%	−0.11 pp	3 q
MCOMoody's Corporation	0.89%	13,686	$4M	new	+0.89 pp	new
VZVerizon Communications	0.80%	63,230	$4M	added+7%	−0.07 pp	15 q
TRSTrimas Corporation	0.62%	93,975	$3M	trimmed−4%	−0.16 pp	18 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	0.45%	5,516	$2M	added+1%	−0.03 pp	2 q
VYMVanguard High Dividend Yield ETF	0.35%	15,977	$2M	trimmed−0%	−0.02 pp	2 q
VTIVanguard Morningstar Total Stock Market ETF	0.33%	7,312	$2M	trimmed−11%	−0.07 pp	2 q
LODEComstock Inc.	0.30%	295,209	$1M	trimmed−6%	+0.22 pp	6 q
FWONKLiberty Media Corporation Series C Liberty Formula One	0.28%	29,596	$1M	added+5%	−0.02 pp	20 q
VYMIVanguard International High Dividend Yield ETF	0.24%	17,079	$1M	trimmed−1%	−0.02 pp	2 q
EQTEqt Corp	0.22%	54,861	$1M	added+3%	+0.05 pp	2 q
CTRACoterra Energy Inc.	0.18%	44,169	$829,000	held	—	2 q
XOPState Street SPDR S&P Oil & Gas Exploration & Production ETF	0.18%	10,251	$834,000	added+2%	+0.03 pp	2 q
XLEState Street Energy Select Sector SPDR ETF	0.16%	15,101	$741,000	added+12%	+0.03 pp	2 q
IWNiShares Russell 2000 Value ETF	0.15%	4,295	$685,000	held	—	3 q
VXUSVanguard Total International Stock ETF	0.14%	10,349	$649,000	added+4%	−0.01 pp	2 q
IBMInternational Business Machines Corporation	0.13%	4,403	$587,000	new	+0.13 pp	new
CRKComstock Resources, Inc.	0.12%	98,691	$547,000	trimmed−0%	+0.01 pp	2 q
LUMNLumen Technologies, Inc.	0.12%	41,909	$559,000	new	+0.12 pp	new
ESTEEarthstone Energy Inc. Class A	0.09%	56,130	$401,000	added+19%	+0.03 pp	2 q
MOATVanEck Morningstar Wide Moat ETF	0.09%	5,934	$411,000	added+10%	+0.01 pp	2 q
VIGVanguard Dividend Appreciation ETF	0.09%	2,891	$425,000	trimmed−1%	−0.01 pp	2 q
CVXChevron Corporation	0.08%	3,277	$343,000	added+1%	+0.01 pp	5 q
XOMExxon Mobil Corp	0.08%	6,387	$357,000	trimmed−2%	+0.01 pp	6 q
AEMAgnico Eagle Mines Ltd.	0.06%	4,905	$284,000	added+2%	−0.03 pp	30 q
VBRVanguard Morningstar Small-Cap Value ETF	0.06%	1,705	$282,000	trimmed−15%	−0.01 pp	2 q
VVVanguard Morningstar Large-Cap ETF	0.06%	1,359	$252,000	added+11%	+0.01 pp	2 q
RSPHInvesco S&P 500 Equal Weight Health Care ETF	0.05%	808	$217,000	held	—	2 q
OIHVanEck Oil Services ETF	0.05%	1,112	$213,000	new	+0.05 pp	new
GDPGoodrich Petroleum Corp	0.04%	20,760	$196,000	new	+0.04 pp	new
VEAVanguard FTSE Developed Markets ETF	0.04%	4,089	$201,000	new	+0.04 pp	new
TALOTalos Energy, Inc.	0.03%	10,750	$129,000	new	+0.03 pp	new
RIGTransocean LTD.	0.02%	24,184	$86,000	trimmed−4%	+0.01 pp	15 q
SJTSan Juan Basin Royalty Trust UBI	0.01%	15,500	$61,000	held	—	3 q
PEParsley Energy Inc	—	−1,018,528	—	exited	−3.64 pp	—
BACBank of America Corporation	—	−10,002	—	exited	−0.08 pp	—