13F filing recap · Q4 2009

What did Semper Augustus buy in Q4 2009?

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

Stock value

$120.20M

Positions

Estimated turnover

20.7%

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

MRKMerck & Co., Inc.MIXED CORP ACTION$4.99Mreported value+136.7K shares BNIBurlington Northern Santa Fe Corporation$2.10Mreported value+21.3K shares MJNMead Johnson Nutrition Co$255.0Kreported value+5.8K shares

Increased positions

BRK.BBerkshire Hathaway Inc$16.03Mreported value+835 shares+20.7%MCYMercury General Corp$15.44Mreported value+52.2K shares+15.3%XOMExxon Mobil Corp.$11.24Mreported value+60.1K shares+57.4%GEGeneral Electric Company$6.13Mreported value+2.8K shares

Reduced positions

CEGConstellation Energy Group Inc$7.70Mreported value-25.0K shares-10.3%MSFTMicrosoft Corporation$5.93Mreported value-170.7K shares-46.7%INTCIntel Corp$2.94Mreported value-70.2K shares-32.7%BMYBristol-Myers Squibb Company$943.0Kreported value-9.2K shares

Exited positions

MRKMerck & Co., Inc.MIXED CORP ACTION$2.92Mprior reported value-92.4K shares-100.0%SGPSchering-Plough Corporation$2.17Mprior reported value-76.8K shares-100.0%WAGWalgreen Co.$2.05Mprior reported value-54.7K shares-100.0%WGOWinnebago Industries, Inc.$641.0K