Semper Augustus

Q2 2024 13F · by Christopher Bloomstran, CIO

As of: Jun 30, 2024
Filed: Aug 14, 2024
US stock: $559M · prev $547M
Positions: 39 · prev 36
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%

Moves31 since the prior filing

+1.7 pp in · −1.4 pp out

New 5 +1.58 pp
Added 16 +0.10 pp
Trimmed 8 −1.33 pp
Exited 2 −0.09 pp

The book

Concentrated · behaves like 11 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 3.6% a year, about 27.6 years per position

Low
Moderate
High

Top 5 positions62% of US stock

BRK.B BERKSHIRE HATHAWAY Class B added−0.58 pp added−0.5817.3%
BRK.A Berkshire Hathaway Inc. added−0.49 pp added−0.4914.0%
MCY Mercury General Corp. added+0.10 pp added+0.1013.3%
DG Dollar General Corp. added−1.56 pp added−1.5610.4%
KGC Kinross Gold Corporation added+1.91 pp added+1.916.9%

Positions39 in this filing · 2 exited


BRK.BBERKSHIRE HATHAWAY Class B	17.25%	237,074	$96M	added+2%	−0.58 pp	45 q
BRK.ABerkshire Hathaway Inc.	14.02%	128	$78M	added+2%	−0.49 pp	45 q
MCYMercury General Corp.	13.26%	1,394,980	$74M	added0%	+0.10 pp	45 q
DGDollar General Corp.	10.41%	440,295	$58M	added+5%	−1.56 pp	30 q
KGCKinross Gold Corporation	6.92%	4,651,364	$39M	added+4%	+1.91 pp	45 q
NEMNewmont Corporation	4.86%	649,573	$27M	added+7%	+0.89 pp	45 q
OLNOlin Corp.	4.45%	527,383	$25M	added+4%	−0.98 pp	20 q
SBUXStarbucks Corp	3.20%	229,823	$18M	added+98%	+1.26 pp	25 q
PARAParamount Global-class B	3.13%	1,682,416	$17M	added+14%	−0.05 pp	13 q
DINOHF Sinclair Corporation	2.60%	272,714	$15M	trimmed−1%	−0.43 pp	10 q
ALKAlaska Air Group, Inc.	2.47%	341,767	$14M	added+7%	−0.05 pp	18 q
DISThe Walt Disney Company	2.43%	136,693	$14M	added+4%	−0.51 pp	25 q
CMICummins Inc.	2.03%	40,909	$11M	added0%	−0.17 pp	24 q
DLTRDollar Tree Inc.	1.85%	96,990	$10M	added+6%	−0.37 pp	12 q
EQNREquinor ASA	1.38%	270,342	$8M	added+5%	+0.10 pp	25 q
FIVEFive Below, Inc.	1.29%	66,384	$7M	new	+1.29 pp	new
XOMExxon Mobil Corp	1.16%	56,264	$6M	trimmed−3%	−0.07 pp	45 q
VLOValero Energy Corporation	1.05%	37,619	$6M	trimmed−6%	−0.20 pp	15 q
MRKMerck & Co., Inc.	0.98%	44,443	$6M	held	—	45 q
TRVThe Travelers Companies, Inc.	0.73%	20,155	$4M	held	—	45 q
NXPINXP Semiconductors N.V.	0.67%	13,930	$4M	trimmed−43%	−0.44 pp	24 q
COSTCostco Wholesale Corp	0.66%	4,330	$4M	trimmed−1%	+0.08 pp	45 q
SMHISEACOR Marine Holdings Inc.	0.52%	214,561	$3M	trimmed−8%	−0.08 pp	29 q
AAPLApple Inc.	0.48%	12,650	$3M	added×3.0	+0.35 pp	8 q
NKENike, Inc.	0.45%	33,169	$2M	added×2.9	+0.25 pp	29 q
GEGE Aerospace	0.37%	12,947	$2M	trimmed−22%	−0.16 pp	12 q
KOCoca-Cola Company	0.26%	22,425	$1M	held	—	45 q
AXPAmerican Express Company	0.19%	4,518	$1M	trimmed−13%	−0.03 pp	38 q
CVXChevron Corporation	0.17%	6,036	$944,151	held	—	14 q
OVVOvintiv Inc.	0.14%	16,487	$772,746	held	—	3 q
WAFDWaFd, Inc.	0.14%	27,072	$773,718	held	—	45 q
GEVGE Vernova Inc.	0.13%	4,138	$709,708	new	+0.13 pp	new
PHYSSprott Physical Gold Trust	0.08%	23,869	$431,074	new	+0.08 pp	new
GEHCGE HealthCare Technologies Inc.	0.06%	4,581	$356,952	held	—	6 q
SHELShell plc	0.06%	4,968	$358,590	held	—	10 q
GOOGLAlphabet Inc. Class A	0.04%	1,160	$211,294	new	+0.04 pp	new
MCHPMicrochip Technology Inc	0.04%	2,418	$221,247	held	—	3 q
PSXPhillips 66	0.04%	1,472	$207,802	held	—	2 q
SYFSynchrony Financial	0.04%	4,437	$209,382	new	+0.04 pp	new
DOWDow Inc.	—	−5,169	—	exited	−0.05 pp	—
SAIASaia, Inc.	—	−400	—	exited	−0.04 pp	—