13F filing recap · Q1 2026

What did Semper Augustus buy in Q1 2026?

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

Stock value

$837.34M

Positions

Estimated turnover

26.0%

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.

Quarter in review

Semper Augustus opened new positions in Builders Firstsource, Alphabet, Mastercard, Philip Morris International, Netflix, and Phillips 66, while exiting Ovintiv entirely. The investor also dramatically increased its stake in Alaska Air Group and iShares Trust. Among the more notable reductions, Valero Energy and Equinor were substantially trimmed, while Dollar General, Newmont, Kinross Gold, and Five Below saw moderate decreases.

New positions

BLDRBuilders Firstsource, Inc.$18.79Mreported value+228.2K shares GOOGAlphabet Inc.$697.6Kreported value+2.4K shares MAMastercard Inc$328.9Kreported value+658 shares PMPhilip Morris International Inc.$291.3Kreported value+1.8K shares NFLX

Increased positions

BRK.BBerkshire Hathaway Inc$121.25Mreported value+3.8K shares+1.5%DECKDeckers Outdoor Corp$66.16Mreported value+21.3K shares+3.3%ALKAlaska Air Group, Inc.$62.34Mreported value+1.29M shares+314.2%OLNOlin Corp$60.33Mreported value+85.9K shares

Reduced positions

DGDollar General Corp$76.96Mreported value-277.7K shares-30.0%NEMNewmont Corporation$51.87Mreported value-184.1K shares-27.8%KGCKinross Gold Corp$46.05Mreported value-604.0K shares-28.6%FIVEFive Below, Inc.$44.02Mreported value-72.6K shares

Exited positions

OVVOvintiv Inc.$646.1Kprior reported value-16.5K shares-100.0%