13F filing recap · Q4 2021

What did Semper Augustus buy in Q4 2021?

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

Stock value

$320.52M

Positions

Estimated turnover

3.8%

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.

Increased positions

NEMNewmont Corporation$23.71Mreported value+1.1K shares+0.3%KGCKinross Gold Corp$13.78Mreported value+281.3K shares+13.5%SBUXStarbucks Corporation$9.16Mreported value+111 shares+0.1%VLOValero Energy Corp/tx$8.91Mreported value+1.7K shares+1.4%MCYMercury General Corp$7.17Mreported value+678 shares+0.5%ALKAlaska Air Group, Inc.$7.07Mreported value+13.5K shares+11.0%CMICummins Inc$6.39Mreported value+168 shares+0.6%DISWalt Disney Co/$5.90Mreported value+522 shares+1.4%YAlleghany Corporation$5.84Mreported value+153 shares+1.8%EQNREquinor Asa$5.18Mreported value+8.4K shares+4.5%HXLHexcel Corp /de/$3.71Mreported value+400 shares+0.6%

Reduced positions

BRK.BBerkshire Hathaway Inc$63.24Mreported value-6.7K shares-3.1%OLNOlin Corp$41.24Mreported value-15.4K shares-2.1%PARAParamount Global$22.60Mreported value-17.2K shares-2.2%XOMExxon Mobil Corp.$9.74Mreported value-5.9K shares

Exited positions

OXYOccidental Petroleum Corporation$3.16Mprior reported value-266.7K shares-100.0%OXYOccidental Petroleum Corporation$621.0Kprior reported value-21.0K shares-100.0%METAMeta Platforms, Inc.$305.0Kprior reported value-900 shares-100.0%PSTHPershing Square Tontine Holdings, Ltd.$276.0Kprior reported value