Semper Augustus

Q3 2022 13F · by Christopher Bloomstran, CIO

As of: Sep 30, 2022
Filed: Nov 14, 2022
US stock: $331M · prev $338M
Positions: 34 · prev 32
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%

Moves27 since the prior filing

+4.6 pp in · −4.4 pp out

New 2 +0.21 pp
Added 15 +4.34 pp
Trimmed 10 −4.40 pp
Exited 0 0.00 pp

The book

Concentrated · behaves like 13 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 17% a year, about 5.8 years per position

Low
Moderate
High

Top 5 positions51% of US stock

BRK.B BERKSHIRE HATHAWAY Class B added+0.11 pp added+0.1118.4%
BRK.A Berkshire Hathaway Inc. added+1.39 pp added+1.3912.5%
OLN Olin Corp. added+0.45 pp added+0.458.3%
PARA Paramount Global-class B added−1.08 pp added−1.085.9%
NEM Newmont Corporation added−1.76 pp added−1.765.4%

Positions34 in this filing · 0 exited


BRK.BBERKSHIRE HATHAWAY Class B	18.41%	227,986	$61M	added+1%	+0.11 pp	38 q
BRK.ABerkshire Hathaway Inc.	12.54%	102	$41M	added+11%	+1.39 pp	38 q
OLNOlin Corp.	8.32%	641,270	$27M	added+12%	+0.45 pp	13 q
PARAParamount Global-class B	5.91%	1,025,957	$20M	added+7%	−1.08 pp	6 q
NEMNewmont Corporation	5.42%	426,434	$18M	added+5%	−1.76 pp	38 q
MCYMercury General Corp.	4.92%	572,572	$16M	added×4.0	+3.05 pp	38 q
DINOHF Sinclair Corporation	4.61%	283,360	$15M	added+1%	+0.87 pp	3 q
KGCKinross Gold Corporation	4.25%	3,741,021	$14M	added+3%	+0.41 pp	38 q
VLOValero Energy Corporation	3.93%	121,761	$13M	added+2%	+0.19 pp	8 q
XOMExxon Mobil Corp	3.23%	122,353	$11M	trimmed−23%	−0.82 pp	38 q
DGDollar General Corp.	3.20%	44,064	$11M	trimmed−0%	−0.01 pp	23 q
DLTRDollar Tree Inc.	2.88%	69,902	$10M	trimmed−0%	−0.35 pp	5 q
YAlleghany Corporation	2.81%	11,065	$9M	trimmed−47%	−2.29 pp	11 q
CMICummins Inc.	2.56%	41,561	$8M	added+1%	+0.20 pp	17 q
SBUXStarbucks Corp	2.52%	98,925	$8M	added0%	+0.28 pp	18 q
ALKAlaska Air Group, Inc.	2.47%	208,447	$8M	added+3%	+0.07 pp	11 q
EQNREquinor ASA	1.97%	196,445	$7M	trimmed−0%	−0.06 pp	18 q
DISThe Walt Disney Company	1.92%	67,367	$6M	added+2%	+0.07 pp	18 q
NXPINXP Semiconductors N.V.	1.73%	38,719	$6M	added+7%	+0.14 pp	17 q
MRKMerck & Co., Inc.	1.16%	44,473	$4M	held	—	38 q
HXLHexcel Corporation	1.12%	71,366	$4M	trimmed−0%	+0.01 pp	26 q
TRVThe Travelers Companies, Inc.	0.93%	20,000	$3M	held	—	38 q
COSTCostco Wholesale Corp	0.73%	5,119	$2M	held	—	38 q
SMHISEACOR Marine Holdings Inc.	0.43%	250,922	$1M	trimmed−0%	0.00 pp	22 q
KOCoca-Cola Company	0.38%	22,425	$1M	held	—	38 q
GEGE Aerospace	0.33%	17,821	$1M	held	—	5 q
NKENike, Inc.	0.29%	11,515	$957,000	added+2%	−0.05 pp	22 q
AXPAmerican Express Company	0.27%	6,593	$889,000	trimmed−68%	−0.57 pp	31 q
WAFDWaFd, Inc.	0.25%	27,847	$835,000	trimmed−54%	−0.29 pp	38 q
CVXChevron Corporation	0.16%	3,610	$519,000	trimmed−12%	−0.02 pp	7 q
AAPLApple Inc.	0.14%	3,374	$466,000	new	+0.14 pp	new
PEPPepsiCo, Inc.	0.08%	1,582	$258,000	held	—	10 q
DOWDow Inc.	0.07%	5,169	$227,000	new	+0.07 pp	new
SHELShell plc	0.07%	4,868	$242,000	held	—	3 q