Century Management

Q3 2024 13F · by Arnold Van Den Berg, CIO

As of: Sep 30, 2024
Filed: Nov 14, 2024
US stock: $346M · prev $337M
Positions: 107 · prev 108
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%

Moves91 since the prior filing

+5.4 pp in · −5.5 pp out

New 4 +3.16 pp
Added 21 +2.23 pp
Trimmed 61 −1.90 pp
Exited 5 −3.55 pp

The book

Focused · behaves like 34 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 24% a year, about 4.3 years per position

Low
Moderate
High

Top 5 positions26% of US stock

Positions107 in this filing · 5 exited


BRK.BBERKSHIRE HATHAWAY Class B	6.13%	46,048	$21M	trimmed−16%	−0.51 pp	46 q
XOMExxon Mobil Corp	5.75%	169,419	$20M	trimmed−13%	−0.88 pp	3 q
PHYSSprott Physical Gold Trust	5.20%	881,258	$18M	trimmed−2%	+0.38 pp	16 q
LUMNLumen Technologies, Inc.	5.01%	2,438,626	$17M	trimmed−3%	+4.19 pp	15 q
FANGDiamondback Energy, Inc.	4.22%	84,604	$15M	trimmed−2%	−0.89 pp	17 q
COHRCoherent Corp.	4.01%	155,836	$14M	trimmed−9%	+0.34 pp	7 q
GOOGAlphabet Inc. Class C	3.68%	76,000	$13M	trimmed−6%	−0.72 pp	19 q
SEASeabridge Gold, Inc.	3.41%	701,280	$12M	trimmed−1%	+0.53 pp	44 q
BNBrookfield Corporation	3.24%	210,487	$11M	trimmed−3%	+0.57 pp	8 q
QCOMQualcomm Inc	2.80%	56,854	$10M	added0%	−0.55 pp	14 q
IBMInternational Business Machines Corporation	2.74%	42,810	$9M	trimmed−3%	+0.48 pp	15 q
SWSmurfit Westrock plc	2.64%	184,495	$9M	new	+2.64 pp	new
CRICarter's Inc.	2.60%	138,171	$9M	added+17%	+0.42 pp	16 q
EQTEqt Corp	2.55%	240,522	$9M	added+15%	+0.26 pp	16 q
CMCOColumbus McKinnon Corp/NY	2.38%	228,117	$8M	added+72%	+1.02 pp	4 q
VNTVontier Corporation	2.37%	243,040	$8M	trimmed−5%	−0.54 pp	16 q
SLBSLB Limited	2.35%	193,410	$8M	trimmed−1%	−0.39 pp	34 q
DISThe Walt Disney Company	1.95%	69,927	$7M	added+1%	−0.10 pp	11 q
METAMeta Platforms, Inc. Class A	1.94%	11,740	$7M	trimmed−2%	+0.14 pp	19 q
PRPermian Resources Corporation	1.77%	450,013	$6M	trimmed−3%	−0.45 pp	5 q
ELVElevance Health, Inc.	1.75%	11,604	$6M	trimmed−1%	−0.14 pp	5 q
KWKennedy-wilson Holdings, Inc.	1.69%	527,769	$6M	trimmed−1%	+0.16 pp	19 q
MSFTMicrosoft Corp	1.61%	12,906	$6M	added+1%	−0.09 pp	17 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	1.61%	9,502	$6M	trimmed−6%	+0.07 pp	6 q
EGEverest Group, Ltd.	1.52%	13,422	$5M	added+12%	+0.16 pp	3 q
BAMBrookfield Asset Management Ltd.	1.51%	110,281	$5M	trimmed−2%	+0.23 pp	8 q
DHRDanaher Corporation	1.46%	18,163	$5M	trimmed−2%	+0.08 pp	29 q
CMECME Group Inc.	1.34%	21,006	$5M	added+15%	+0.27 pp	3 q
CRKComstock Resources, Inc.	1.34%	415,893	$5M	trimmed−1%	+0.04 pp	16 q
COPConocoPhillips	1.28%	41,862	$4M	trimmed−4%	−0.20 pp	29 q
SWKStanley Black & Decker, Inc.	1.22%	38,144	$4M	added+4%	+0.35 pp	10 q
WDAYWorkday, Inc. Class A	1.22%	17,321	$4M	trimmed−2%	+0.04 pp	17 q
VRSNVeriSign Inc	1.05%	19,095	$4M	trimmed−37%	−0.55 pp	17 q
ACGLArch Capital Group Ltd	1.04%	32,096	$4M	added+18%	+0.22 pp	3 q
ATKRAtkore Inc.	1.00%	40,883	$3M	trimmed−25%	−1.19 pp	32 q
ILMNIllumina Inc	0.92%	24,456	$3M	trimmed−3%	+0.14 pp	11 q
MCOMoody's Corporation	0.89%	6,476	$3M	trimmed−12%	−0.03 pp	15 q
STSensata Technologies Holding plc	0.86%	82,911	$3M	added+3%	−0.04 pp	10 q
BACBank of America Corporation	0.85%	73,618	$3M	trimmed−62%	−1.43 pp	8 q
TMOThermo Fisher Scientific, Inc.	0.66%	3,681	$2M	added+4%	+0.08 pp	4 q
CIThe Cigna Group	0.46%	4,599	$2M	added+11%	+0.05 pp	4 q
CRGYCrescent Energy Company	0.38%	120,795	$1M	new	+0.38 pp	new
TXNTexas Instruments Incorporated	0.38%	6,293	$1M	held	—	11 q
DVNDevon Energy Corporation	0.37%	32,957	$1M	added0%	−0.09 pp	14 q
NOGNorthern Oil and Gas, Inc.	0.37%	36,449	$1M	trimmed−6%	−0.06 pp	12 q
CTRACoterra Energy Inc.	0.36%	51,839	$1M	trimmed−4%	−0.07 pp	16 q
AZZAZZ Inc.	0.32%	13,216	$1M	trimmed−1%	+0.01 pp	5 q
VTOLBristow Group Inc.	0.29%	29,163	$1M	added+85%	+0.13 pp	2 q
VIGVanguard Dividend Appreciation ETF	0.29%	5,133	$1M	trimmed−2%	+0.01 pp	16 q
EROEro Copper Corp.	0.28%	43,735	$973,978	trimmed−10%	−0.03 pp	10 q
RSPInvesco S&P 500 Equal Weight ETF	0.28%	5,349	$958,280	trimmed−22%	−0.06 pp	14 q
MAMastercard Incorporated	0.26%	1,843	$910,073	trimmed−1%	+0.02 pp	12 q
LPINVital Energy Inc	0.24%	30,697	$825,749	added+70%	0.00 pp	11 q
VTIVanguard Morningstar Total Stock Market ETF	0.24%	2,901	$821,398	trimmed−7%	−0.01 pp	16 q
BOOMDMC Global Inc.	0.23%	61,439	$797,478	trimmed−66%	−0.55 pp	32 q
OVVOvintiv Inc.	0.23%	20,316	$778,306	trimmed−6%	−0.07 pp	13 q
MOATVanEck Morningstar Wide Moat ETF	0.23%	8,121	$787,338	trimmed−25%	−0.05 pp	16 q
XLEState Street Energy Select Sector SPDR ETF	0.21%	8,296	$728,372	trimmed−11%	−0.04 pp	16 q
TRSTrimas Corporation	0.20%	27,073	$691,174	trimmed−7%	−0.02 pp	32 q
VEAVanguard FTSE Developed Markets ETF	0.20%	13,345	$704,748	trimmed−20%	−0.04 pp	15 q
BTEBaytex Energy Corp.	0.18%	212,894	$632,295	trimmed−10%	−0.06 pp	6 q
CVXChevron Corporation	0.17%	4,018	$591,731	trimmed−14%	−0.05 pp	19 q
XOPState Street SPDR S&P Oil & Gas Exploration & Production ETF	0.17%	4,455	$585,876	trimmed−20%	−0.07 pp	16 q
FNDFSchwab Fundamental International Equity ETF	0.17%	16,008	$598,219	trimmed−6%	−0.01 pp	4 q
VOOVanguard S&P 500 ETF	0.16%	1,058	$558,275	trimmed−15%	−0.03 pp	8 q
GDXJVanEck Junior Gold Miners ETF	0.15%	10,357	$505,525	added+58%	+0.07 pp	8 q
SCHJSchwab 1-5 Year Corporate Bond ETF	0.13%	8,748	$433,990	new	+0.13 pp	new
VYMVanguard High Dividend Yield ETF	0.13%	3,540	$453,828	trimmed−4%	0.00 pp	16 q
PSLVSprott Physical Silver Trust	0.12%	38,044	$397,560	added×2.1	+0.07 pp	4 q
AEMAgnico Eagle Mines Ltd.	0.11%	4,847	$390,474	held	—	44 q
SPSMState Street SPDR Portfolio S&P 600 Small Cap ETF	0.11%	8,139	$370,406	trimmed−21%	−0.02 pp	12 q
SEISolaris Energy Infrastructure, Inc.	0.10%	27,240	$347,583	trimmed−27%	0.00 pp	12 q
SUSuncor Energy, Inc.	0.10%	9,360	$345,571	trimmed−4%	−0.01 pp	13 q
VYMIVanguard International High Dividend Yield ETF	0.09%	4,222	$309,979	held	—	16 q
TAT&T Inc.	0.08%	11,920	$262,240	held	—	25 q
HALHalliburton Company	0.08%	9,810	$284,980	trimmed−5%	−0.02 pp	11 q
TALOTalos Energy, Inc.	0.08%	28,282	$292,719	trimmed−8%	−0.03 pp	11 q
ARAntero Resources Corporation	0.07%	8,133	$233,010	trimmed−12%	−0.02 pp	7 q
GNRCGenerac Holdings Inc	0.07%	1,570	$249,442	held	—	2 q
URAGlobal X Uranium ETF	0.06%	7,206	$206,154	trimmed−33%	−0.03 pp	10 q
RRCRange Resources Corp	0.06%	6,503	$200,032	trimmed−26%	−0.03 pp	10 q
HLHecla Mining Company	0.03%	17,000	$113,390	held	—	10 q
GDXVanEck Gold Miners ETF	0.03%	2,670	$106,319	added+23%	+0.01 pp	8 q
VVVanguard Morningstar Large-Cap ETF	0.03%	378	$99,524	trimmed−34%	−0.01 pp	8 q
RIGTransocean LTD.	0.03%	25,155	$106,909	added+14%	0.00 pp	29 q
FNDESchwab Fundamental Emerging Markets Equity ETF	0.02%	2,500	$80,675	trimmed−11%	0.00 pp	4 q
VBRVanguard Morningstar Small-Cap Value ETF	0.02%	369	$74,088	held	—	8 q
VRNVeren Inc.	0.02%	13,726	$84,416	added+13%	−0.01 pp	2 q
EUenCore Energy Corp.	0.01%	10,000	$40,400	new	+0.01 pp	new
PXEInvesco Energy Exploration & Production ETF	0.01%	900	$26,685	trimmed−40%	0.00 pp	3 q
KGEIKolibri Global Energy Inc.	0.01%	11,391	$36,451	trimmed−23%	−0.01 pp	4 q
REIRing Energy Inc.	0.01%	23,746	$37,994	trimmed−21%	−0.01 pp	7 q
SCHDSchwab US Dividend Equity ETF	0.01%	609	$51,479	held	—	4 q
VNQVanguard Real Estate ETF	0.01%	220	$21,432	held	—	8 q
GOOGLAlphabet Inc. Class A	0.00%	20	$3,317	held	—	8 q
DTCRGlobal X Funds Global X Data Center & Digital Infrastructure ETF	0.00%	100	$1,762	held	—	8 q
QYLDGlobal X Funds Global X NASDAQ-100 Covered Call ETF	0.00%	750	$13,530	held	—	8 q
PFFDGlobal X U.S. Preferred ETF	0.00%	600	$12,468	held	—	8 q
EFASGlobal X MSCI SuperDividend EAFE ETF	0.00%	325	$5,015	held	—	8 q
SILGlobal X Silver Miners ETF (NEW)	0.00%	50	$1,754	held	—	8 q
DJDInvesco Dow Jones Industrial Average Dividend ETF	0.00%	150	$7,888	held	—	8 q
XESState Street SPDR S&P Oil & Gas Equipment & Services ETF	0.00%	37	$2,988	held	—	8 q
XLFState Street Financial Select Sector SPDR ETF	0.00%	218	$9,900	trimmed−31%	0.00 pp	8 q
MORTVanEck Mortgage REIT Income ETF	0.00%	585	$7,061	held	—	8 q
VUGVanguard Morningstar Growth ETF	0.00%	29	$11,187	held	—	8 q
VTVVanguard Morningstar Value ETF	0.00%	54	$9,427	held	—	8 q
VBVanguard Morningstar Small-Cap ETF	0.00%	13	$3,189	held	—	8 q
0LW9Westrock Co	—	−200,615	—	exited	−2.99 pp	—
SBOWSilverBow Resources, Inc.	—	−36,926	—	exited	−0.41 pp	—
DODiamond Offshore Drilling, Inc.	—	−16,992	—	exited	−0.08 pp	—
CORCencora, Inc.	—	−1,078	—	exited	−0.07 pp	—
unresolvedAirspan Networks Holdings In	—	−15,500	—	exited	0.00 pp	—