Semper Augustus

Q2 2023 13F · by Christopher Bloomstran, CIO

As of: Jun 30, 2023
Filed: Aug 14, 2023
US stock: $423M · prev $391M
Positions: 33 · prev 34
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%

Moves30 since the prior filing

+4.4 pp in · −4.3 pp out

New 0 0.00 pp
Added 13 +4.41 pp
Trimmed 16 −3.13 pp
Exited 1 −1.17 pp

The book

Concentrated · behaves like 11 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 6.9% a year, about 14.4 years per position

Low
Moderate
High

Top 5 positions56% of US stock

BRK.B BERKSHIRE HATHAWAY Class B added+0.48 pp added+0.4818.9%
BRK.A Berkshire Hathaway Inc. added+1.36 pp added+1.3615.8%
MCY Mercury General Corp. added+3.67 pp added+3.679.0%
OLN Olin Corp. trimmed−1.23 pp trimmed−1.236.3%
DG Dollar General Corp. added+1.41 pp added+1.415.9%

Positions33 in this filing · 1 exited


BRK.BBERKSHIRE HATHAWAY Class B	18.91%	234,530	$80M	added+1%	+0.48 pp	41 q
BRK.ABerkshire Hathaway Inc.	15.79%	129	$67M	added+7%	+1.36 pp	41 q
MCYMercury General Corp.	9.01%	1,259,725	$38M	added+92%	+3.67 pp	41 q
OLNOlin Corp.	6.31%	519,139	$27M	trimmed−2%	−1.23 pp	16 q
DGDollar General Corp.	5.86%	146,025	$25M	added+77%	+1.41 pp	26 q
NEMNewmont Corporation	5.25%	520,677	$22M	added+4%	−1.01 pp	41 q
KGCKinross Gold Corporation	4.71%	4,176,999	$20M	added+4%	−0.13 pp	41 q
PARAParamount Global-class B	4.27%	1,134,831	$18M	added+15%	−1.37 pp	9 q
DINOHF Sinclair Corporation	3.43%	325,025	$14M	added+9%	−0.28 pp	6 q
ALKAlaska Air Group, Inc.	3.20%	254,566	$14M	added+12%	+0.76 pp	14 q
VLOValero Energy Corporation	2.71%	97,893	$11M	trimmed−0%	−0.79 pp	11 q
DLTRDollar Tree Inc.	2.59%	76,335	$11M	added+2%	−0.15 pp	8 q
DISThe Walt Disney Company	2.58%	122,023	$11M	added+7%	−0.34 pp	21 q
CMICummins Inc.	2.39%	41,272	$10M	trimmed−0%	−0.14 pp	20 q
SBUXStarbucks Corp	2.27%	97,140	$10M	trimmed−0%	−0.33 pp	21 q
NXPINXP Semiconductors N.V.	1.92%	39,718	$8M	added0%	+0.03 pp	20 q
XOMExxon Mobil Corp	1.89%	74,348	$8M	trimmed−17%	−0.62 pp	41 q
EQNREquinor ASA	1.64%	237,162	$7M	added+4%	−0.02 pp	21 q
MRKMerck & Co., Inc.	1.21%	44,444	$5M	trimmed−0%	0.00 pp	41 q
TRVThe Travelers Companies, Inc.	0.83%	20,155	$4M	held	—	41 q
SMHISEACOR Marine Holdings Inc.	0.67%	246,977	$3M	trimmed−0%	+0.19 pp	25 q
COSTCostco Wholesale Corp	0.53%	4,172	$2M	trimmed−2%	−0.01 pp	41 q
GEGE Aerospace	0.43%	16,559	$2M	trimmed−7%	−0.01 pp	8 q
KOCoca-Cola Company	0.32%	22,425	$1M	held	—	41 q
NKENike, Inc.	0.30%	11,342	$1M	trimmed−1%	−0.06 pp	25 q
AXPAmerican Express Company	0.26%	6,426	$1M	trimmed−1%	−0.02 pp	34 q
WAFDWaFd, Inc.	0.17%	27,575	$731,289	trimmed−1%	−0.04 pp	41 q
AAPLApple Inc.	0.15%	3,208	$622,256	trimmed−9%	0.00 pp	4 q
CVXChevron Corporation	0.12%	3,253	$511,860	trimmed−7%	−0.03 pp	10 q
GEHCGE HealthCare Technologies Inc.	0.09%	4,581	$372,160	trimmed−23%	−0.03 pp	2 q
DOWDow Inc.	0.07%	5,169	$275,301	held	—	4 q
PEPPepsiCo, Inc.	0.07%	1,582	$293,018	held	—	13 q
SHELShell plc	0.06%	4,168	$251,664	trimmed−14%	−0.01 pp	6 q
HXLHexcel Corporation	—	−66,804	—	exited	−1.17 pp	—