Century Management

Q1 2024 13F · by Arnold Van Den Berg, CIO

As of: Mar 31, 2024
Filed: May 15, 2024
US stock: $341M · prev $301M
Positions: 111 · prev 105
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%

Moves87 since the prior filing

+4.5 pp in · −4.4 pp out

New 8 +2.51 pp
Added 35 +1.95 pp
Trimmed 42 +0.37 pp
Exited 2 −4.76 pp

The book

Focused · behaves like 33 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 27% a year, about 3.8 years per position

Low
Moderate
High

Top 5 positions28% of US stock

BRK.B BERKSHIRE HATHAWAY Class B trimmed−0.14 pp trimmed−0.147.0%
PXD Pioneer Natural Resource Co. trimmed+0.16 pp trimmed+0.166.7%
FANG Diamondback Energy, Inc. trimmed+0.51 pp trimmed+0.515.2%
PHYS Sprott Physical Gold Trust added+0.71 pp added+0.714.5%
GOOG Alphabet Inc. Class C trimmed−0.36 pp trimmed−0.364.2%

Positions111 in this filing · 2 exited


BRK.BBERKSHIRE HATHAWAY Class B	6.97%	56,504	$24M	trimmed−6%	−0.14 pp	44 q
PXDPioneer Natural Resource Co.	6.73%	87,479	$23M	trimmed−1%	+0.16 pp	17 q
FANGDiamondback Energy, Inc.	5.18%	89,136	$18M	trimmed−2%	+0.51 pp	15 q
PHYSSprott Physical Gold Trust	4.48%	883,884	$15M	added+24%	+0.71 pp	14 q
GOOGAlphabet Inc. Class C	4.22%	94,450	$14M	trimmed−3%	−0.36 pp	17 q
VNTVontier Corporation	3.42%	256,761	$12M	trimmed−0%	+0.46 pp	14 q
COHRCoherent Corp.	3.28%	184,568	$11M	trimmed−1%	+0.60 pp	5 q
SLBSLB Limited	3.16%	196,376	$11M	added+3%	−0.15 pp	32 q
SEASeabridge Gold, Inc.	3.16%	712,608	$11M	added+7%	+0.47 pp	42 q
QCOMQualcomm Inc	3.09%	62,198	$11M	added0%	+0.11 pp	12 q
ATKRAtkore Inc.	3.08%	55,159	$11M	trimmed−11%	−0.22 pp	30 q
0LW9Westrock Co	2.96%	204,005	$10M	trimmed−1%	+0.11 pp	18 q
BNBrookfield Corporation	2.68%	218,144	$9M	added0%	−0.22 pp	6 q
CRICarter's Inc.	2.56%	103,197	$9M	added+5%	+0.11 pp	14 q
DISThe Walt Disney Company	2.50%	69,646	$9M	trimmed−1%	+0.39 pp	9 q
IBMInternational Business Machines Corporation	2.42%	43,247	$8M	added+2%	+0.11 pp	13 q
PRPermian Resources Corporation	2.41%	464,977	$8M	trimmed−2%	+0.27 pp	3 q
BACBank of America Corporation	2.17%	195,230	$7M	added0%	−0.01 pp	6 q
EQTEqt Corp	1.97%	180,888	$7M	added+5%	−0.25 pp	14 q
ELVElevance Health, Inc.	1.79%	11,755	$6M	added+9%	+0.09 pp	3 q
METAMeta Platforms, Inc. Class A	1.73%	12,159	$6M	trimmed−30%	−0.31 pp	17 q
MSFTMicrosoft Corp	1.60%	12,958	$5M	trimmed−2%	−0.05 pp	15 q
COPConocoPhillips	1.51%	40,549	$5M	trimmed−2%	−0.09 pp	27 q
BAMBrookfield Asset Management Ltd.	1.40%	113,991	$5M	trimmed−0%	−0.12 pp	6 q
DHRDanaher Corporation	1.38%	18,804	$5M	trimmed−2%	−0.10 pp	27 q
VRSNVeriSign Inc	1.34%	24,193	$5M	added+8%	−0.19 pp	15 q
KWKennedy-wilson Holdings, Inc.	1.31%	520,329	$4M	added+34%	−0.29 pp	17 q
CRKComstock Resources, Inc.	1.15%	421,415	$4M	added+4%	−0.04 pp	14 q
WDAYWorkday, Inc. Class A	1.15%	14,319	$4M	trimmed−5%	−0.23 pp	15 q
SWKStanley Black & Decker, Inc.	1.06%	37,020	$4M	added+2%	−0.12 pp	8 q
BOOMDMC Global Inc.	1.04%	181,586	$4M	added+1%	−0.08 pp	30 q
CMCOColumbus McKinnon Corp/NY	0.96%	73,056	$3M	added×11.1	+0.87 pp	2 q
LUMNLumen Technologies, Inc.	0.88%	1,934,221	$3M	added+78%	+0.22 pp	13 q
STSensata Technologies Holding plc	0.87%	81,044	$3M	added+17%	+0.01 pp	8 q
MCOMoody's Corporation	0.86%	7,430	$3M	trimmed−1%	−0.11 pp	13 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	0.86%	5,914	$3M	added×2.2	+0.38 pp	4 q
EGEverest Group, Ltd.	0.83%	7,109	$3M	new	+0.83 pp	new
CMECME Group Inc.	0.73%	11,527	$2M	new	+0.73 pp	new
ILMNIllumina Inc	0.62%	15,492	$2M	added0%	−0.10 pp	9 q
TMOThermo Fisher Scientific, Inc.	0.61%	3,565	$2M	trimmed−1%	−0.02 pp	2 q
ACGLArch Capital Group Ltd	0.59%	21,826	$2M	new	+0.59 pp	new
DVNDevon Energy Corporation	0.48%	32,938	$2M	added+1%	−0.01 pp	12 q
CTRACoterra Energy Inc.	0.44%	53,924	$2M	trimmed−0%	−0.02 pp	14 q
NOGNorthern Oil and Gas, Inc.	0.43%	37,090	$1M	added+3%	−0.01 pp	10 q
CIThe Cigna Group	0.39%	3,683	$1M	added+26%	+0.10 pp	2 q
SBOWSilverBow Resources, Inc.	0.39%	38,479	$1M	added+6%	+0.04 pp	12 q
RSPInvesco S&P 500 Equal Weight ETF	0.35%	7,094	$1M	trimmed−4%	−0.04 pp	12 q
OVVOvintiv Inc.	0.33%	21,619	$1M	added+3%	+0.02 pp	11 q
TXNTexas Instruments Incorporated	0.32%	6,295	$1M	trimmed−0%	−0.04 pp	9 q
AZZAZZ Inc.	0.31%	13,595	$1M	added+12%	+0.08 pp	3 q
MOATVanEck Morningstar Wide Moat ETF	0.31%	11,634	$1M	trimmed−5%	−0.03 pp	14 q
VIGVanguard Dividend Appreciation ETF	0.30%	5,521	$1M	trimmed−6%	−0.03 pp	14 q
XOPState Street SPDR S&P Oil & Gas Exploration & Production ETF	0.29%	6,351	$983,892	trimmed−1%	0.00 pp	14 q
VTIVanguard Morningstar Total Stock Market ETF	0.29%	3,769	$979,497	trimmed−3%	−0.02 pp	14 q
EROEro Copper Corp.	0.27%	48,535	$935,755	trimmed−1%	+0.01 pp	8 q
LPINVital Energy Inc	0.27%	17,492	$919,030	trimmed−1%	0.00 pp	9 q
MAMastercard Incorporated	0.27%	1,887	$908,723	trimmed−2%	0.00 pp	10 q
VEAVanguard FTSE Developed Markets ETF	0.27%	18,096	$907,875	trimmed−5%	−0.03 pp	13 q
BTEBaytex Energy Corp.	0.25%	236,778	$859,504	added+8%	+0.01 pp	4 q
XLEState Street Energy Select Sector SPDR ETF	0.23%	8,440	$796,803	trimmed−7%	−0.02 pp	14 q
TRSTrimas Corporation	0.23%	28,974	$774,475	held	—	30 q
CVXChevron Corporation	0.22%	4,659	$734,911	added+22%	+0.03 pp	17 q
FNDFSchwab Fundamental International Equity ETF	0.21%	20,532	$731,145	trimmed−2%	−0.02 pp	2 q
VOOVanguard S&P 500 ETF	0.18%	1,253	$602,317	trimmed−2%	−0.01 pp	6 q
AAPLApple Inc.	0.17%	3,396	$582,346	new	+0.17 pp	new
VYMVanguard High Dividend Yield ETF	0.15%	4,225	$511,183	trimmed−6%	−0.02 pp	14 q
SPSMState Street SPDR Portfolio S&P 600 Small Cap ETF	0.13%	10,459	$450,155	trimmed−4%	−0.02 pp	10 q
TALOTalos Energy, Inc.	0.13%	30,947	$431,092	added+19%	+0.01 pp	9 q
HALHalliburton Company	0.12%	10,290	$405,632	held	—	9 q
SUSuncor Energy, Inc.	0.11%	10,377	$383,015	trimmed−3%	0.00 pp	11 q
VYMIVanguard International High Dividend Yield ETF	0.11%	5,307	$365,122	trimmed−6%	−0.01 pp	14 q
SEISolaris Energy Infrastructure, Inc.	0.10%	37,386	$324,137	trimmed−4%	0.00 pp	10 q
VRTVertiv Holdings Co Class A	0.10%	4,201	$343,096	trimmed−9%	+0.03 pp	4 q
CPNGCoupang, Inc.	0.09%	17,538	$312,001	new	+0.09 pp	new
URAGlobal X Uranium ETF	0.09%	10,678	$307,837	trimmed−2%	−0.01 pp	8 q
RRCRange Resources Corp	0.09%	8,819	$303,638	added+1%	0.00 pp	8 q
AEMAgnico Eagle Mines Ltd.	0.08%	4,847	$289,124	held	—	42 q
CORCencora, Inc.	0.08%	1,113	$270,529	trimmed−56%	−0.09 pp	13 q
ARAntero Resources Corporation	0.08%	9,263	$268,627	added+2%	+0.01 pp	5 q
DODiamond Offshore Drilling, Inc.	0.07%	16,680	$227,515	held	—	8 q
GDXJVanEck Junior Gold Miners ETF	0.07%	6,547	$253,631	added×4.2	+0.05 pp	6 q
TAT&T Inc.	0.06%	11,920	$209,792	held	—	23 q
XOMExxon Mobil Corp	0.06%	1,875	$217,950	new	+0.06 pp	new
PSLVSprott Physical Silver Trust	0.05%	20,261	$167,964	held	—	2 q
VVVanguard Morningstar Large-Cap ETF	0.05%	658	$157,762	held	—	6 q
SPXS1Direxion Dly S&P 500 Bear 3X	0.04%	16,360	$142,823	added+32%	−0.01 pp	2 q
RIGTransocean LTD.	0.04%	22,000	$138,160	held	—	27 q
unresolvedCrescent Pt Energy Corp	0.03%	12,084	$98,969	new	+0.03 pp	new
HLHecla Mining Company	0.02%	17,000	$81,770	held	—	8 q
REIRing Energy Inc.	0.02%	33,299	$65,266	added+10%	+0.01 pp	5 q
FNDESchwab Fundamental Emerging Markets Equity ETF	0.02%	2,850	$79,116	trimmed−6%	−0.01 pp	2 q
GDXVanEck Gold Miners ETF	0.02%	1,670	$52,805	trimmed−9%	0.00 pp	6 q
VBRVanguard Morningstar Small-Cap Value ETF	0.02%	369	$70,804	held	—	6 q
PXEInvesco Energy Exploration & Production ETF	0.01%	1,000	$35,800	new	+0.01 pp	new
KGEIKolibri Global Energy Inc.	0.01%	14,834	$46,430	added+9%	−0.01 pp	2 q
SCHDSchwab US Dividend Equity ETF	0.01%	609	$49,104	held	—	2 q
VNQVanguard Real Estate ETF	0.01%	220	$19,026	held	—	6 q
unresolvedAirspan Networks Holdings In	0.00%	15,500	$1,751	held	—	9 q
GOOGLAlphabet Inc. Class A	0.00%	20	$3,019	held	—	6 q
DTCRGlobal X Funds Global X Data Center & Digital Infrastructure ETF	0.00%	100	$1,555	held	—	6 q
QYLDGlobal X Funds Global X NASDAQ-100 Covered Call ETF	0.00%	750	$13,432	held	—	6 q
PFFDGlobal X U.S. Preferred ETF	0.00%	600	$12,096	held	—	6 q
EFASGlobal X MSCI SuperDividend EAFE ETF	0.00%	325	$4,761	held	—	6 q
SILGlobal X Silver Miners ETF (NEW)	0.00%	50	$1,373	held	—	6 q
DJDInvesco Dow Jones Industrial Average Dividend ETF	0.00%	150	$7,207	held	—	6 q
XESState Street SPDR S&P Oil & Gas Equipment & Services ETF	0.00%	38	$3,537	held	—	6 q
XLFState Street Financial Select Sector SPDR ETF	0.00%	318	$13,413	held	—	6 q
MORTVanEck Mortgage REIT Income ETF	0.00%	585	$6,839	held	—	6 q
VUGVanguard Morningstar Growth ETF	0.00%	29	$10,030	held	—	6 q
VTVVanguard Morningstar Value ETF	0.00%	54	$8,794	held	—	6 q
VBVanguard Morningstar Small-Cap ETF	0.00%	13	$3,073	held	—	6 q
MKLMarkel Group Inc.	—	−7,958	—	exited	−3.75 pp	—
POWLPowell Industries Inc	—	−34,544	—	exited	−1.01 pp	—