13F filing recap · Q2 2026

What did Semper Augustus buy in Q2 2026?

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

Stock value

$884.60M

Positions

Estimated turnover

21.1%

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.

Quarter in review

Semper Augustus opened new positions in Paychex, S&P Global, and Cognizant Technology Solutions, along with smaller stakes in Microsoft, Microchip Technology, Sunbelt Rentals Holdings, and Johnson & Johnson. The investor exited Flex entirely. Among existing holdings, Builders Firstsource was increased sharply, while Five Below, Cummins, Starbucks, and NXP Semiconductors were substantially reduced.

New positions

PAYXPaychex, Inc.$20.81Mreported value+211.6K shares SPGIS&P Global Inc.$18.73Mreported value+46.0K shares CTSHCognizant Technology Solutions Corporation$14.64Mreported value+378.0K shares MSFTMicrosoft Corporation$239.1Kreported value+641 shares

Increased positions

BRK.BBerkshire Hathaway Inc$136.68Mreported value+20.1K shares+8.0%ALKAlaska Air Group, Inc.$93.63Mreported value+98.6K shares+5.8%BRK.ABerkshire Hathaway Inc$89.86Mreported value+4 shares+3.4%DGDollar General Corp$76.58Mreported value+17.1K shares

Reduced positions

NEMNewmont Corporation$41.77Mreported value-31.9K shares-6.7%FIVEFive Below, Inc.$19.00Mreported value-87.0K shares-45.2%DINOHf Sinclair Corporation$17.56Mreported value-108.5K shares-30.1%VLOValero Energy Corp/tx$9.87Mreported value-6.2K shares

Exited positions

FLEXFlex Ltd.$293.6Kprior reported value-4.5K shares-100.0%