Semper Augustus

Q1 2021 13F · by Christopher Bloomstran, CIO

As of: Mar 31, 2021
Filed: May 14, 2021
US stock: $265M · prev $229M
Positions: 30 · prev 30
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%

Moves24 since the prior filing

−0.5 pp in · +1.4 pp out

New 1 +0.13 pp
Added 8 −0.65 pp
Trimmed 14 +2.01 pp
Exited 1 −0.57 pp

The book

Concentrated · behaves like 12 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 2.6% a year, more than 30 years per position

Low
Moderate
High

Top 5 positions57% of US stock

BRK.B BERKSHIRE HATHAWAY Class B added−0.99 pp added−0.9919.3%
BRK.A Berkshire Hathaway Inc. held held12.4%
OLN Olin Corp. trimmed+2.57 pp trimmed+2.5710.3%
NEM Newmont Corporation added−0.58 pp added−0.587.9%
MCY Mercury General Corp. trimmed−0.02 pp trimmed−0.026.8%

Positions30 in this filing · 1 exited


BRK.BBERKSHIRE HATHAWAY Class B	19.26%	199,765	$51M	added0%	−0.99 pp	32 q
BRK.ABerkshire Hathaway Inc.	12.37%	85	$33M	held	—	32 q
OLNOlin Corp.	10.35%	722,249	$27M	trimmed−0%	+2.57 pp	7 q
NEMNewmont Corporation	7.92%	348,120	$21M	added+7%	−0.58 pp	32 q
MCYMercury General Corp.	6.83%	297,696	$18M	trimmed−1%	−0.02 pp	32 q
SBUXStarbucks Corp	4.29%	104,082	$11M	trimmed−1%	−0.63 pp	12 q
KGCKinross Gold Corporation	3.91%	1,552,010	$10M	added+23%	−0.13 pp	32 q
XOMExxon Mobil Corp	3.34%	158,297	$9M	added0%	+0.49 pp	32 q
HFCHollyfrontier Corp	3.05%	225,997	$8M	added+8%	+0.69 pp	2 q
NXPINXP Semiconductors N.V.	2.97%	39,069	$8M	trimmed−0%	+0.24 pp	11 q
VLOValero Energy Corporation	2.90%	107,504	$8M	added+1%	+0.27 pp	2 q
CMICummins Inc.	2.87%	29,319	$8M	trimmed−0%	−0.04 pp	11 q
DISThe Walt Disney Company	2.69%	38,576	$7M	trimmed−0%	−0.37 pp	12 q
ALKAlaska Air Group, Inc.	2.40%	91,811	$6M	trimmed−0%	+0.31 pp	5 q
YAlleghany Corporation	2.02%	8,531	$5M	added+6%	−0.10 pp	5 q
HXLHexcel Corporation	1.51%	71,654	$4M	trimmed−0%	−0.01 pp	20 q
EQNREquinor ASA	1.38%	188,565	$4M	trimmed−0%	+0.03 pp	12 q
GPCGenuine Parts Company	1.34%	30,792	$4M	trimmed−0%	−0.01 pp	5 q
MRKMerck & Co., Inc.	1.28%	44,073	$3M	added0%	−0.30 pp	32 q
AXPAmerican Express Company	1.22%	22,870	$3M	trimmed−0%	+0.01 pp	25 q
TRVThe Travelers Companies, Inc.	1.14%	20,000	$3M	held	—	32 q
COSTCostco Wholesale Corp	0.90%	6,760	$2M	held	—	32 q
DGDollar General Corp.	0.82%	10,680	$2M	trimmed−0%	−0.16 pp	17 q
WAFDWaFd, Inc.	0.75%	64,943	$2M	held	—	32 q
unresolvedGeneral Electric Co	0.71%	142,607	$2M	held	—	32 q
NKENike, Inc.	0.54%	10,758	$1M	trimmed−0%	−0.13 pp	16 q
SMHISEACOR Marine Holdings Inc.	0.52%	256,692	$1M	trimmed−0%	+0.22 pp	16 q
KOCoca-Cola Company	0.51%	25,500	$1M	held	—	32 q
CVXChevron Corporation	0.13%	3,288	$345,000	new	+0.13 pp	new
PEPPepsiCo, Inc.	0.08%	1,582	$224,000	held	—	4 q
PSQProShares Short QQQ	—	−91,077	—	exited	−0.57 pp	—