Semper Augustus

Q4 2023 13F · by Christopher Bloomstran, CIO

As of: Dec 31, 2023
Filed: Feb 14, 2024
US stock: $478M · prev $417M
Positions: 35 · 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%

Moves27 since the prior filing

+4.2 pp in · −3.8 pp out

New 2 +0.35 pp
Added 17 +3.87 pp
Trimmed 8 −3.80 pp
Exited 0 0.00 pp

The book

Concentrated · behaves like 11 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 5.4% a year, about 18.6 years per position

Low
Moderate
High

Top 5 positions60% of US stock

BRK.B BERKSHIRE HATHAWAY Class B added−2.01 pp added−2.0117.4%
BRK.A Berkshire Hathaway Inc. trimmed−2.23 pp trimmed−2.2314.2%
DG Dollar General Corp. added+1.65 pp added+1.6511.8%
MCY Mercury General Corp. added+1.78 pp added+1.7810.9%
OLN Olin Corp. trimmed−0.35 pp trimmed−0.355.7%

Positions35 in this filing · 0 exited


BRK.BBERKSHIRE HATHAWAY Class B	17.43%	233,545	$83M	added+1%	−2.01 pp	43 q
BRK.ABerkshire Hathaway Inc.	14.20%	125	$68M	trimmed−3%	−2.23 pp	43 q
DGDollar General Corp.	11.84%	416,140	$57M	added+4%	+1.65 pp	28 q
MCYMercury General Corp.	10.86%	1,391,249	$52M	added+3%	+1.78 pp	43 q
OLNOlin Corp.	5.71%	505,528	$27M	trimmed−0%	−0.35 pp	18 q
KGCKinross Gold Corporation	5.57%	4,402,127	$27M	added+5%	+0.99 pp	43 q
NEMNewmont Corporation	5.06%	584,153	$24M	added+11%	+0.40 pp	43 q
DISThe Walt Disney Company	3.79%	200,311	$18M	added+64%	+1.41 pp	23 q
DINOHF Sinclair Corporation	3.17%	272,556	$15M	added+2%	−0.49 pp	8 q
PARAParamount Global-class B	2.76%	890,526	$13M	trimmed−23%	−0.84 pp	11 q
DLTRDollar Tree Inc.	2.68%	90,095	$13M	added+5%	+0.49 pp	10 q
ALKAlaska Air Group, Inc.	2.57%	314,106	$12M	added+17%	+0.19 pp	16 q
CMICummins Inc.	2.04%	40,749	$10M	trimmed−0%	−0.20 pp	22 q
SBUXStarbucks Corp	1.93%	96,221	$9M	added+1%	−0.15 pp	23 q
EQNREquinor ASA	1.60%	241,982	$8M	added+1%	−0.28 pp	23 q
XOMExxon Mobil Corp	1.18%	56,335	$6M	held	—	43 q
NXPINXP Semiconductors N.V.	1.18%	24,471	$6M	trimmed−0%	0.00 pp	22 q
VLOValero Energy Corporation	1.05%	38,482	$5M	added+8%	−0.16 pp	13 q
MRKMerck & Co., Inc.	1.02%	44,575	$5M	added0%	−0.08 pp	43 q
TRVThe Travelers Companies, Inc.	0.80%	20,155	$4M	held	—	43 q
SMHISEACOR Marine Holdings Inc.	0.62%	237,026	$3M	trimmed−4%	−0.20 pp	27 q
COSTCostco Wholesale Corp	0.60%	4,341	$3M	added+9%	+0.06 pp	43 q
GEGE Aerospace	0.44%	16,559	$2M	held	—	10 q
OVVOvintiv Inc.	0.30%	32,974	$1M	new	+0.30 pp	new
KOCoca-Cola Company	0.28%	22,425	$1M	held	—	43 q
NKENike, Inc.	0.26%	11,308	$1M	trimmed−0%	0.00 pp	27 q
AXPAmerican Express Company	0.25%	6,426	$1M	held	—	36 q
WAFDWaFd, Inc.	0.19%	27,500	$906,400	trimmed−0%	+0.02 pp	43 q
AAPLApple Inc.	0.17%	4,250	$818,253	added+32%	+0.04 pp	6 q
CVXChevron Corporation	0.15%	4,731	$705,676	added+45%	+0.02 pp	12 q
GEHCGE HealthCare Technologies Inc.	0.07%	4,581	$354,203	held	—	4 q
SHELShell plc	0.07%	4,968	$326,894	added+19%	+0.01 pp	8 q
DOWDow Inc.	0.06%	5,169	$283,468	held	—	6 q
MCHPMicrochip Technology Inc	0.05%	2,418	$218,055	new	+0.05 pp	new
PEPPepsiCo, Inc.	0.05%	1,457	$247,457	held	—	15 q