Semper Augustus

Q1 2023 13F · by Christopher Bloomstran, CIO

As of: Mar 31, 2023
Filed: May 15, 2023
US stock: $391M · prev $367M
Positions: 34 · prev 33
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%

Moves26 since the prior filing

+3.5 pp in · −3.3 pp out

New 1 +0.12 pp
Added 13 +3.40 pp
Trimmed 12 −3.27 pp
Exited 0 0.00 pp

The book

Concentrated · behaves like 12 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 12% a year, about 8.4 years per position

Low
Moderate
High

Top 5 positions52% of US stock

BRK.B BERKSHIRE HATHAWAY Class B added−0.83 pp added−0.8318.4%
BRK.A Berkshire Hathaway Inc. added+0.77 pp added+0.7714.4%
OLN Olin Corp. trimmed−1.70 pp trimmed−1.707.5%
NEM Newmont Corporation added+0.40 pp added+0.406.3%
PARA Paramount Global-class B added+1.28 pp added+1.285.6%

Positions34 in this filing · 0 exited


BRK.BBERKSHIRE HATHAWAY Class B	18.43%	233,163	$72M	added+2%	−0.83 pp	40 q
BRK.ABerkshire Hathaway Inc.	14.43%	121	$56M	added+13%	+0.77 pp	40 q
OLNOlin Corp.	7.54%	530,379	$29M	trimmed−17%	−1.70 pp	15 q
NEMNewmont Corporation	6.26%	498,388	$24M	added+9%	+0.40 pp	40 q
PARAParamount Global-class B	5.64%	986,609	$22M	added+4%	+1.28 pp	8 q
MCYMercury General Corp.	5.34%	656,485	$21M	added+10%	−0.21 pp	40 q
KGCKinross Gold Corporation	4.84%	4,010,602	$19M	added+13%	+0.90 pp	40 q
DGDollar General Corp.	4.45%	82,537	$17M	added+88%	+1.50 pp	25 q
DINOHF Sinclair Corporation	3.71%	299,436	$14M	added+7%	−0.25 pp	5 q
VLOValero Energy Corporation	3.50%	98,013	$14M	trimmed−19%	−0.67 pp	10 q
DISThe Walt Disney Company	2.92%	114,086	$11M	added+1%	+0.24 pp	20 q
DLTRDollar Tree Inc.	2.74%	74,577	$11M	added+7%	+0.05 pp	7 q
SBUXStarbucks Corp	2.60%	97,608	$10M	trimmed−1%	−0.07 pp	20 q
CMICummins Inc.	2.53%	41,424	$10M	trimmed−0%	−0.22 pp	19 q
XOMExxon Mobil Corp	2.51%	89,467	$10M	trimmed−13%	−0.56 pp	40 q
ALKAlaska Air Group, Inc.	2.44%	227,360	$10M	added+1%	−0.18 pp	13 q
NXPINXP Semiconductors N.V.	1.89%	39,598	$7M	trimmed−0%	+0.18 pp	19 q
EQNREquinor ASA	1.66%	228,666	$7M	added+17%	−0.25 pp	20 q
MRKMerck & Co., Inc.	1.21%	44,473	$5M	held	—	40 q
HXLHexcel Corporation	1.17%	66,804	$5M	trimmed−6%	+0.03 pp	28 q
TRVThe Travelers Companies, Inc.	0.88%	20,155	$3M	held	—	40 q
COSTCostco Wholesale Corp	0.54%	4,269	$2M	trimmed−14%	−0.08 pp	40 q
SMHISEACOR Marine Holdings Inc.	0.48%	248,123	$2M	trimmed−1%	−0.14 pp	24 q
GEGE Aerospace	0.44%	17,821	$2M	held	—	7 q
KOCoca-Cola Company	0.36%	22,425	$1M	held	—	40 q
NKENike, Inc.	0.36%	11,405	$1M	trimmed−1%	−0.01 pp	24 q
AXPAmerican Express Company	0.28%	6,518	$1M	trimmed−1%	+0.01 pp	33 q
WAFDWaFd, Inc.	0.21%	27,743	$835,619	trimmed−0%	−0.04 pp	40 q
AAPLApple Inc.	0.15%	3,525	$581,273	held	—	3 q
CVXChevron Corporation	0.15%	3,504	$571,640	added0%	−0.02 pp	9 q
GEHCGE HealthCare Technologies Inc.	0.12%	5,936	$486,930	new	+0.12 pp	new
DOWDow Inc.	0.07%	5,169	$283,365	held	—	3 q
PEPPepsiCo, Inc.	0.07%	1,582	$288,399	held	—	12 q
SHELShell plc	0.07%	4,868	$280,105	held	—	5 q