Semper Augustus

Q1 2024 13F · by Christopher Bloomstran, CIO

As of: Mar 31, 2024
Filed: May 14, 2024
US stock: $547M · prev $478M
Positions: 36 · prev 35
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%

Moves28 since the prior filing

+0.7 pp in · −1.0 pp out

New 2 +0.08 pp
Added 16 +0.59 pp
Trimmed 9 −0.99 pp
Exited 1 −0.05 pp

The book

Concentrated · behaves like 10 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 7.8% a year, about 12.8 years per position

Low
Moderate
High

Top 5 positions63% of US stock

BRK.B BERKSHIRE HATHAWAY Class B trimmed+0.40 pp trimmed+0.4017.8%
BRK.A Berkshire Hathaway Inc. held held14.5%
MCY Mercury General Corp. added+2.30 pp added+2.3013.2%
DG Dollar General Corp. added+0.13 pp added+0.1312.0%
OLN Olin Corp. trimmed−0.28 pp trimmed−0.285.4%

Positions36 in this filing · 1 exited


BRK.BBERKSHIRE HATHAWAY Class B	17.83%	231,819	$97M	trimmed−1%	+0.40 pp	44 q
BRK.ABerkshire Hathaway Inc.	14.51%	125	$79M	held	—	44 q
MCYMercury General Corp.	13.16%	1,394,224	$72M	added0%	+2.30 pp	44 q
DGDollar General Corp.	11.97%	419,289	$65M	added+1%	+0.13 pp	29 q
OLNOlin Corp.	5.43%	505,339	$30M	trimmed−0%	−0.28 pp	19 q
KGCKinross Gold Corporation	5.01%	4,472,067	$27M	added+2%	−0.56 pp	44 q
NEMNewmont Corporation	3.97%	605,447	$22M	added+4%	−1.09 pp	44 q
PARAParamount Global-class B	3.18%	1,477,943	$17M	added+66%	+0.42 pp	12 q
DINOHF Sinclair Corporation	3.03%	274,707	$17M	added+1%	−0.14 pp	9 q
DISThe Walt Disney Company	2.94%	131,211	$16M	trimmed−35%	−0.85 pp	24 q
ALKAlaska Air Group, Inc.	2.52%	319,868	$14M	added+2%	−0.05 pp	17 q
DLTRDollar Tree Inc.	2.22%	91,240	$12M	added+1%	−0.46 pp	11 q
CMICummins Inc.	2.20%	40,779	$12M	added0%	+0.16 pp	23 q
SBUXStarbucks Corp	1.94%	116,111	$11M	added+21%	+0.01 pp	24 q
EQNREquinor ASA	1.28%	258,646	$7M	added+7%	−0.32 pp	24 q
VLOValero Energy Corporation	1.25%	40,066	$7M	added+4%	+0.20 pp	14 q
XOMExxon Mobil Corp	1.23%	57,910	$7M	added+3%	+0.05 pp	44 q
NXPINXP Semiconductors N.V.	1.11%	24,450	$6M	trimmed−0%	−0.07 pp	23 q
MRKMerck & Co., Inc.	1.07%	44,443	$6M	trimmed−0%	+0.05 pp	44 q
TRVThe Travelers Companies, Inc.	0.85%	20,155	$5M	held	—	44 q
SMHISEACOR Marine Holdings Inc.	0.60%	234,478	$3M	trimmed−1%	−0.02 pp	28 q
COSTCostco Wholesale Corp	0.58%	4,355	$3M	added0%	−0.02 pp	44 q
GEGE Aerospace	0.53%	16,559	$3M	held	—	11 q
KOCoca-Cola Company	0.25%	22,425	$1M	held	—	44 q
AXPAmerican Express Company	0.22%	5,166	$1M	trimmed−20%	−0.03 pp	37 q
NKENike, Inc.	0.20%	11,395	$1M	added+1%	−0.06 pp	28 q
CVXChevron Corporation	0.17%	6,036	$952,119	added+28%	+0.02 pp	13 q
OVVOvintiv Inc.	0.16%	16,487	$855,675	trimmed−50%	−0.14 pp	2 q
WAFDWaFd, Inc.	0.14%	27,072	$785,900	trimmed−2%	−0.05 pp	44 q
AAPLApple Inc.	0.13%	4,250	$728,790	held	—	7 q
GEHCGE HealthCare Technologies Inc.	0.08%	4,581	$416,459	held	—	5 q
SHELShell plc	0.06%	4,968	$333,055	held	—	9 q
DOWDow Inc.	0.05%	5,169	$299,440	held	—	7 q
MCHPMicrochip Technology Inc	0.04%	2,418	$216,919	held	—	2 q
PSXPhillips 66	0.04%	1,472	$240,436	new	+0.04 pp	new
SAIASaia, Inc.	0.04%	400	$234,000	new	+0.04 pp	new
PEPPepsiCo, Inc.	—	−1,457	—	exited	−0.05 pp	—