Semper Augustus

Q2 2019 13F · by Christopher Bloomstran, CIO

As of: Jun 30, 2019
Filed: Aug 13, 2019
US stock: $169M · prev $163M
Positions: 27 · prev 28
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%

Moves21 since the prior filing

+4.2 pp in · −4.8 pp out

New 0 0.00 pp
Added 14 +4.24 pp
Trimmed 6 −2.25 pp
Exited 1 −2.58 pp

The book

Concentrated · behaves like 10 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 16% a year, about 6.4 years per position

Low
Moderate
High

Top 5 positions56% of US stock

Positions27 in this filing · 1 exited


BRK.BBERKSHIRE HATHAWAY Class B	22.90%	181,295	$39M	held	—	25 q
BRK.ABerkshire Hathaway Inc.	15.84%	84	$27M	trimmed−1%	+0.11 pp	25 q
NEMNewmont Corporation	6.57%	288,349	$11M	added+65%	+2.73 pp	25 q
SBUXStarbucks Corp	5.66%	113,915	$10M	trimmed−34%	−2.23 pp	5 q
XOMExxon Mobil Corp	4.99%	110,024	$8M	added0%	−0.46 pp	25 q
DGDollar General Corp.	4.36%	54,405	$7M	trimmed−1%	+0.32 pp	10 q
MCYMercury General Corp.	4.00%	108,043	$7M	trimmed−29%	−0.71 pp	25 q
COSTCostco Wholesale Corp	3.06%	19,530	$5M	added0%	+0.16 pp	25 q
NXPINXP Semiconductors N.V.	3.05%	52,798	$5M	added0%	+0.19 pp	4 q
CMICummins Inc.	2.98%	29,311	$5M	added0%	+0.14 pp	4 q
HXLHexcel Corporation	2.95%	61,632	$5M	trimmed−5%	+0.20 pp	13 q
SMHISEACOR Marine Holdings Inc.	2.85%	321,498	$5M	added0%	+0.22 pp	9 q
SWKSSkyworks Solutions Inc	2.77%	60,430	$5M	added+2%	−0.22 pp	2 q
KGCKinross Gold Corporation	2.50%	1,087,314	$4M	added0%	+0.21 pp	25 q
MRKMerck & Co., Inc.	2.12%	42,723	$4M	held	—	25 q
unresolvedAVX Corporation	2.01%	204,090	$3M	added+39%	+0.45 pp	25 q
DISThe Walt Disney Company	1.78%	21,505	$3M	added0%	+0.32 pp	5 q
TRVThe Travelers Companies, Inc.	1.77%	20,000	$3M	held	—	25 q
AXPAmerican Express Company	1.49%	20,425	$3M	trimmed−4%	+0.06 pp	18 q
EQNREquinor ASA	1.35%	115,113	$2M	added+7%	−0.11 pp	5 q
INTCIntel Corp	1.12%	39,520	$2M	added+91%	+0.44 pp	25 q
WAFDWaFd, Inc.	1.12%	54,320	$2M	added+1%	+0.16 pp	25 q
KOCoca-Cola Company	0.91%	30,000	$2M	held	—	25 q
unresolvedGeneral Electric Co	0.74%	119,415	$1M	held	—	25 q
NKENike, Inc.	0.63%	12,723	$1M	held	—	9 q
MDTMedtronic plc	0.29%	5,106	$497,000	added+1%	+0.01 pp	18 q
RDS.ARoyal Dutch Shell PLC	0.19%	4,868	$317,000	held	—	25 q
18614USDGoldcorp Inc	—	−366,798	—	exited	−2.58 pp	—