Century Management

Q2 2026 13F · by Arnold Van Den Berg, CIO

As of: Jun 30, 2026
Filed: Aug 14, 2026
US stock: $473M · prev $436M
Positions: 120 · prev 133
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%

Moves114 since the prior filing

+2.3 pp in · −2.1 pp out

New 6 +0.90 pp
Added 29 +1.44 pp
Trimmed 60 −1.36 pp
Exited 19 −0.78 pp

The book

Focused · behaves like 40 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 19% a year, about 5.1 years per position

Low
Moderate
High

Top 5 positions23% of US stock

Positions120 in this filing · 19 exited


DELLDell Technologies Inc.	5.68%	62,293	$27M	trimmed−20%	+2.73 pp	7 q
PHYSSprott Physical Gold Trust	5.29%	829,987	$25M	trimmed−1%	−1.49 pp	23 q
INTCIntel Corp	4.18%	141,569	$20M	trimmed−43%	+1.65 pp	7 q
LUMNLumen Technologies, Inc.	3.87%	2,383,170	$18M	trimmed−2%	0.00 pp	22 q
XOMExxon Mobil Corp	3.65%	126,367	$17M	trimmed−6%	−1.60 pp	10 q
SASeabridge Gold, Inc.	3.52%	647,986	$17M	trimmed−2%	−0.76 pp	51 q
COHRCoherent Corp.	3.50%	42,046	$17M	trimmed−35%	−0.02 pp	14 q
GOOGAlphabet Inc. Class C	3.37%	45,086	$16M	trimmed−3%	+0.32 pp	26 q
FANGDiamondback Energy, Inc.	3.02%	81,302	$14M	trimmed−2%	−0.74 pp	24 q
EQTEqt Corp	2.50%	222,416	$12M	trimmed−2%	−0.80 pp	23 q
QCOMQualcomm Inc	2.43%	62,213	$11M	added0%	+0.60 pp	21 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	2.43%	27,680	$12M	trimmed−4%	+0.64 pp	13 q
BRK.BBERKSHIRE HATHAWAY Class B	2.38%	22,466	$11M	trimmed−4%	−0.20 pp	53+ q
IBMInternational Business Machines Corporation	2.36%	39,723	$11M	added+8%	+0.31 pp	22 q
ELVElevance Health, Inc.	2.25%	27,514	$11M	trimmed−2%	+0.36 pp	12 q
MSFTMicrosoft Corp	2.19%	27,758	$10M	added+1%	−0.14 pp	24 q
BNBrookfield Corporation	2.08%	231,334	$10M	trimmed−2%	−0.12 pp	15 q
PRPermian Resources Corporation	1.97%	506,641	$9M	trimmed−2%	−0.56 pp	12 q
SWKStanley Black & Decker, Inc.	1.92%	96,652	$9M	added+5%	+0.42 pp	17 q
CIThe Cigna Group	1.82%	31,263	$9M	added0%	−0.08 pp	11 q
DHRDanaher Corporation	1.73%	43,029	$8M	added+19%	+0.16 pp	36 q
TKRThe Timken Company	1.72%	56,168	$8M	trimmed−5%	+0.35 pp	4 q
CMCOColumbus McKinnon Corp/NY	1.71%	534,610	$8M	added+12%	+0.12 pp	11 q
VNTVontier Corporation	1.70%	276,939	$8M	added+25%	−0.11 pp	23 q
ACGLArch Capital Group Ltd	1.67%	81,619	$8M	added+1%	−0.11 pp	10 q
SLBSLB Limited	1.65%	167,511	$8M	trimmed−3%	−0.39 pp	41 q
ILMNIllumina Inc	1.62%	43,610	$8M	trimmed−3%	+0.35 pp	18 q
SWSmurfit Westrock plc	1.53%	156,841	$7M	trimmed−3%	+0.06 pp	8 q
TMOThermo Fisher Scientific, Inc.	1.51%	14,289	$7M	added+1%	−0.08 pp	11 q
GNRCGenerac Holdings Inc	1.38%	22,318	$7M	trimmed−2%	+0.36 pp	9 q
INTUIntuit Inc	1.38%	25,020	$7M	added×3.6	+0.70 pp	2 q
DISThe Walt Disney Company	1.37%	67,131	$6M	added+1%	−0.10 pp	18 q
STSensata Technologies Holding plc	1.27%	125,840	$6M	trimmed−2%	+0.23 pp	17 q
CRKComstock Resources, Inc.	1.26%	399,068	$6M	added+1%	−0.65 pp	23 q
WDAYWorkday, Inc. Class A	1.26%	48,837	$6M	added+29%	+0.13 pp	24 q
MKTXMarketAxess Holdings Inc.	1.25%	52,054	$6M	added+66%	+0.06 pp	4 q
FTVFortive Corporation	1.04%	80,408	$5M	added+27%	+0.24 pp	3 q
CMECME Group Inc.	1.03%	22,089	$5M	added+19%	−0.22 pp	10 q
VTOLBristow Group Inc.	0.95%	108,398	$4M	added+17%	−0.05 pp	9 q
TREXTrex Company, Inc.	0.91%	86,107	$4M	added+1%	+0.20 pp	2 q
APHAmphenol Corporation	0.81%	21,645	$4M	new	+0.81 pp	new
FDXFedEx Corporation	0.78%	11,836	$4M	trimmed−2%	−0.21 pp	4 q
VRSNVeriSign Inc	0.75%	14,120	$4M	trimmed−2%	−0.07 pp	24 q
METAMeta Platforms, Inc. Class A	0.70%	5,918	$3M	trimmed−2%	−0.09 pp	26 q
BACBank of America Corporation	0.61%	50,610	$3M	trimmed−2%	+0.03 pp	15 q
BAMBrookfield Asset Management Ltd.	0.59%	62,424	$3M	added+48%	+0.16 pp	15 q
UPSUnited Parcel Service, Inc. Class B	0.58%	25,554	$3M	added+1%	+0.01 pp	4 q
DVNDevon Energy Corporation	0.55%	62,891	$3M	added×2.2	+0.22 pp	21 q
MCOMoody's Corporation	0.55%	5,707	$3M	trimmed−2%	−0.04 pp	22 q
COPConocoPhillips	0.54%	24,761	$3M	trimmed−41%	−0.72 pp	36 q
CRGYCrescent Energy Company	0.47%	228,438	$2M	added+1%	−0.23 pp	8 q
RSPInvesco S&P 500 Equal Weight ETF	0.22%	4,792	$1M	added+1%	+0.01 pp	21 q
LBRTLiberty Energy Inc.	0.21%	38,016	$995,639	trimmed−0%	−0.04 pp	3 q
OVVOvintiv Inc.	0.21%	18,533	$975,762	trimmed−4%	−0.05 pp	20 q
VIGVanguard Dividend Appreciation ETF	0.21%	4,115	$973,691	added+1%	+0.01 pp	23 q
GDXJVanEck Junior Gold Miners ETF	0.20%	9,672	$950,274	trimmed−7%	−0.08 pp	15 q
EROEro Copper Corp.	0.19%	33,393	$893,263	trimmed−1%	−0.02 pp	17 q
VTIVanguard Morningstar Total Stock Market ETF	0.19%	2,441	$903,380	trimmed−8%	0.00 pp	23 q
MAMastercard Incorporated	0.17%	1,553	$797,621	trimmed−2%	−0.01 pp	19 q
AEMAgnico Eagle Mines Ltd.	0.16%	4,762	$738,729	held	—	51 q
CVXChevron Corporation	0.16%	4,592	$761,170	trimmed−10%	−0.08 pp	26 q
NOGNorthern Oil and Gas, Inc.	0.16%	42,782	$776,493	added+1%	−0.12 pp	19 q
FNDFSchwab Fundamental International Equity ETF	0.15%	13,849	$730,673	trimmed−6%	−0.01 pp	11 q
XLEState Street Energy Select Sector SPDR ETF	0.15%	13,125	$697,083	trimmed−3%	−0.04 pp	23 q
PSLVSprott Physical Silver Trust	0.15%	38,019	$717,419	held	—	11 q
VEAVanguard FTSE Developed Markets ETF	0.15%	10,157	$723,685	trimmed−5%	−0.01 pp	22 q
BTEBaytex Energy Corp.	0.14%	164,777	$659,108	trimmed−1%	−0.03 pp	13 q
MOATVanEck Morningstar Wide Moat ETF	0.14%	6,181	$642,585	trimmed−7%	−0.01 pp	23 q
VOOVanguard S&P 500 ETF	0.13%	872	$598,941	trimmed−23%	−0.02 pp	15 q
VYMVanguard High Dividend Yield ETF	0.12%	3,537	$558,952	trimmed−3%	0.00 pp	23 q
SUSuncor Energy, Inc.	0.10%	9,103	$488,649	trimmed−0%	−0.04 pp	20 q
AMZNAmazon.Com Inc	0.09%	1,807	$430,680	held	—	5 q
XOPState Street SPDR S&P Oil & Gas Exploration & Production ETF	0.09%	2,816	$434,387	trimmed−4%	−0.03 pp	23 q
SPSMState Street SPDR Portfolio S&P 600 Small Cap ETF	0.08%	6,968	$401,845	trimmed−4%	0.00 pp	19 q
TXNTexas Instruments Incorporated	0.08%	1,294	$385,703	trimmed−40%	−0.02 pp	3 q
VYMIVanguard International High Dividend Yield ETF	0.08%	4,015	$394,273	added+1%	−0.01 pp	23 q
ARAntero Resources Corporation	0.06%	7,647	$268,716	trimmed−4%	−0.02 pp	14 q
AAPLApple Inc.	0.06%	904	$261,476	held	—	2 q
GEGE Aerospace	0.06%	780	$291,509	trimmed−1%	+0.01 pp	2 q
HLHecla Mining Company	0.06%	17,000	$262,310	held	—	17 q
NVDANvidia Corp	0.06%	1,485	$297,134	trimmed−5%	0.00 pp	2 q
EGEverest Group, Ltd.	0.06%	822	$293,643	trimmed−24%	−0.02 pp	10 q
TAT&T Inc.	0.05%	11,394	$235,856	trimmed−1%	−0.03 pp	32 q
CWCurtiss-Wright Corp.	0.05%	327	$247,788	held	—	2 q
GEVGE Vernova Inc.	0.05%	193	$226,748	new	+0.05 pp	new
URAGlobal X Uranium ETF	0.05%	5,038	$220,161	trimmed−18%	−0.02 pp	5 q
RRCRange Resources Corp	0.05%	6,387	$237,533	held	—	17 q
DIAState Street SPDR Dow Jones Industrial Average ETF Trust	0.05%	444	$231,941	trimmed−22%	−0.01 pp	4 q
CEFSprott Physical Gold and Silver Trust	0.05%	5,948	$239,288	trimmed−1%	−0.02 pp	4 q
TALOTalos Energy, Inc.	0.05%	17,895	$231,024	held	—	18 q
GDXVanEck Gold Miners ETF	0.03%	1,590	$119,965	held	—	15 q
VHTVanguard Health Care ETF	0.03%	481	$143,827	trimmed−2%	0.00 pp	2 q
GOOGLAlphabet Inc. Class A	0.02%	214	$76,344	held	—	15 q
FNDESchwab Fundamental Emerging Markets Equity ETF	0.02%	2,617	$103,843	trimmed−1%	0.00 pp	11 q
WEATTeucrium Wheat Fund	0.02%	4,900	$107,947	new	+0.02 pp	new
VGTVanguard Information Technology ETF	0.02%	600	$71,712	held	—	2 q
RIGTransocean LTD.	0.02%	18,265	$89,316	trimmed−34%	−0.02 pp	36 q
REIRing Energy Inc.	0.01%	64,391	$69,542	added+21%	−0.01 pp	14 q
SCHDSchwab US Dividend Equity ETF	0.01%	1,899	$60,217	held	—	11 q
CORNTeucrium Corn Fund	0.01%	4,000	$67,000	new	+0.01 pp	new
TAGSTeucrium Agricultural Fund	0.01%	2,000	$47,674	new	+0.01 pp	new
VIGIVanguard International Dividend Appreciation ETF	0.01%	436	$40,714	added+63%	0.00 pp	2 q
VPUVanguard Utilities ETF	0.01%	162	$31,708	held	—	2 q
VVVanguard Morningstar Large-Cap ETF	0.01%	79	$27,169	trimmed−8%	0.00 pp	15 q
COPXGlobal X Copper Miners ETF (NEW)	0.00%	274	$21,053	held	—	2 q
SILGlobal X Silver Miners ETF (NEW)	0.00%	175	$13,555	held	—	5 q
DJDInvesco Dow Jones Industrial Average Dividend ETF	0.00%	150	$9,505	held	—	15 q
NAKNorthern Dynasty Minerals, Ltd.	0.00%	10,000	$19,200	held	—	2 q
XESState Street SPDR S&P Oil & Gas Equipment & Services ETF	0.00%	34	$3,811	held	—	15 q
SCHHSchwab U.S. REIT ETF	0.00%	172	$4,079	held	—	2 q
SCHCSchwab International Small-Cap Equity ETF	0.00%	300	$14,436	new	0.00 pp	new
XLFState Street Financial Select Sector SPDR ETF	0.00%	133	$7,154	held	—	15 q
XLKState Street Technology Select Sector SPDR ETF	0.00%	4	$762	held	—	5 q
MORTVanEck Mortgage REIT Income ETF	0.00%	140	$1,450	held	—	15 q
NLRVanEck Uranium and Nuclear ETF	0.00%	70	$8,119	trimmed−68%	−0.01 pp	6 q
VNQVanguard Real Estate ETF	0.00%	25	$2,411	held	—	15 q
VBRVanguard Morningstar Small-Cap Value ETF	0.00%	30	$7,290	trimmed−12%	0.00 pp	15 q
VUGVanguard Morningstar Growth ETF	0.00%	132	$11,370	held	—	15 q
VTVVanguard Morningstar Value ETF	0.00%	47	$10,243	trimmed−13%	0.00 pp	15 q
VBVanguard Morningstar Small-Cap ETF	0.00%	5	$1,516	held	—	15 q
CTRACoterra Energy Inc.	—	−49,090	—	exited	−0.40 pp	—
SEISolaris Energy Infrastructure, Inc.	—	−14,868	—	exited	−0.19 pp	—
AZZAZZ Inc.	—	−2,351	—	exited	−0.07 pp	—
SMSM Energy Company	—	−7,003	—	exited	−0.05 pp	—
IVViShares Core S&P 500 ETF	—	−116	—	exited	−0.02 pp	—
ILFiShares Latin America 40 ETF	—	−1,300	—	exited	−0.01 pp	—
IWSiShares Russell Mid-Cap Value ETF	—	−368	—	exited	−0.01 pp	—
IWDiShares Russell 1000 Value ETF	—	−247	—	exited	−0.01 pp	—
IWFiShares Russell 1000 Growth ETF	—	−564	—	exited	−0.01 pp	—
IWBiShares Russell 1000 ETF	—	−161	—	exited	−0.01 pp	—
EUenCore Energy Corp.	—	−10,000	—	exited	0.00 pp	—
IVWiShares S&P 500 Growth ETF	—	−135	—	exited	0.00 pp	—
IVEiShares S&P 500 Value ETF	—	−18	—	exited	0.00 pp	—
IJHiShares Core S&P Mid-Cap ETF	—	−107	—	exited	0.00 pp	—
IJKiShares S&P Mid-Cap 400 Growth ETF	—	−41	—	exited	0.00 pp	—
IWNiShares Russell 2000 Value ETF	—	−15	—	exited	0.00 pp	—
IJRiShares Core S&P Small-Cap ETF	—	−26	—	exited	0.00 pp	—
IJSiShares S&P Small-Cap 600 Value ETF	—	−26	—	exited	0.00 pp	—
IJTiShares S&P Small-Cap 600 Growth ETF	—	−17	—	exited	0.00 pp	—