13F filing recap · Q3 2014

What did Semper Augustus buy in Q3 2014?

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

Stock value

$163.00M

Positions

Estimated turnover

6.9%

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

CBIChicago Bridge & Iron Company N.v.$1.94Mreported value+33.5K shares

Increased positions

GGGoldcorp Inc.$4.91Mreported value+1.1K shares+0.5%GEGeneral Electric Company$3.85Mreported value+2 shares+0.0%AVXAVX Corporation$2.92Mreported value+525 shares+0.2%KGCKinross Gold Corp$2.79Mreported value+1.3K shares

Reduced positions

BRK.BBerkshire Hathaway Inc$28.81Mreported value-1.1K shares-0.5%MCYMercury General Corp$12.72Mreported value-151 shares-0.1%NEMNewmont Corporation$6.95Mreported value-535 shares-0.2%MRKMerck & Co., Inc.$5.50Mreported value-5.0K shares