13F filing recap · Q2 2016

What did Semper Augustus buy in Q2 2016?

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

Stock value

$137.93M

Positions

Estimated turnover

14.1%

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

HXLHexcel Corp /de/$3.45Mreported value+83.0K shares VICLVical Incorporated$168.0Kreported value+37.2K shares

Increased positions

BRK.BBerkshire Hathaway Inc$27.34Mreported value+200 shares+0.1%MCYMercury General Corp$9.05Mreported value+1 shares+0.0%SNYSanofi$4.25Mreported value+19.2K shares+23.3%

Reduced positions

XOMExxon Mobil Corp.$10.03Mreported value-118.1K shares-52.5%GEGeneral Electric Company$4.07Mreported value-6.6K shares-4.9%

Exited positions

MSFTMicrosoft Corporation$3.71Mprior reported value-67.2K shares-100.0%VICLVical Incorporated$145.0Kprior reported value-371.9K shares-100.0%