13F filing recap · Q3 2009

What did Semper Augustus buy in Q3 2009?

Reported stock-position changes between this filing and the previous one.

Stock value

$115.93M

Positions

Estimated turnover

8.4%

Turnover is a proxy: verified trade-origin share changes valued at period-end and divided by average reported stock value. SEC holdings reports do not disclose execution dates or prices. Corporate actions and unreconciled activity are excluded.

New positions

VRValidus Holdings, Ltd.$929.0Kreported value+36.0K shares PEPPepsico, Inc.$211.0Kreported value+3.6K shares

Increased positions

GEGeneral Electric Company$6.61Mreported value+1 shares+0.0%NEMNewmont Corporation$3.71Mreported value+580 shares+0.7%

Reduced positions

MSFTMicrosoft Corporation$9.39Mreported value-43.1K shares-10.6%INTCIntel Corp$4.20Mreported value-7.0K shares-3.2%WAGWalgreen Co.$2.05Mreported value-95.9K shares-63.7%VICLVical Incorporated$1.64Mreported value-21.7K shares

Exited positions

IPCRIpc Holdings Ltd$1.01Mprior reported value-37.0K shares-100.0%ETDEthan Allen Interiors Inc.$507.0Kprior reported value-49.0K shares-100.0%