Semper Augustus Investments Group LLC — 13F Filing Insights

CIK: 0001115373

Momentum followerDiversified strategyQuality / disciplined sizing

Total reported value

$837.3M

Reporting period: 2026-03-31 · Number of holdings: 44

SEMPER AUGUSTUS INVESTMENTS GROUP LLC disclosed 44 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $837.3M and a quarterly turnover rate of 26.6%.

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Personality snowflake

Concentration: 29.56
Portfolio Stability: 26.6
Momentum/Contrarian: 100
Sector conviction: 49.79
Diversification: 88
Sizing Uniformity: 84.82

Semper Augustus Investments Group LLC's disclosed holdings carry a Herfindahl concentration index of 0.074 — mathematically equivalent to about 14 equally-sized positions, well below its 44 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.

Position sizes vary widely across the portfolio (a coefficient of variation of 1.52), with a handful of outsized bets alongside many smaller positions.

Recent activity leans toward adding more aggressively to already-large existing positions than to newly initiated ones (a 3.9 percentage-point tilt) — a pattern consistent with a momentum-following approach.

Recent moves

Add ALK
+314.2%　$41.8M
Trim DG
-30.0%　-$46.0M
Add OLN
+4.4%　$19.8M
Trim VLO
-77.8%　-$21.5M
Trim NEM
-27.8%　-$14.4M
Trim KGC
-28.6%　-$13.4M

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	BRK-B	Berkshire Hathaway Inc-cl B	Stock-Other	14.48%	+0.07%	+1.53%
2	BRK-A	Berkshire Hathaway Inc-cl A	Stock-Other	9.95%	-0.12%	—
3	DG	Dollar General CORP	Stock-Consumer Staples	9.19%	-4.95%	-29.99%
4	DECK	Deckers Outdoor CORP	Stock-Consumer Disc	7.90%	+0.27%	+3.33%
5	ALK	Alaska Air Group INC	Stock-Industrials	7.45%	+5.08%	+314.15%
6	OLN	Olin CORP	Stock-Materials	7.21%	+2.55%	+4.42%
7	DLTR	Dollar Tree INC	Stock-Consumer Staples	6.72%	-0.53%	+0.16%
8	NEM	Newmont CORP	Stock-Materials	6.19%	-1.43%	-27.76%
9	KGC	Kinross Gold CORP	Stock-Materials	5.50%	-1.34%	-28.59%
10	FIVE	Five Below	Stock-Consumer Disc	5.26%	-0.49%	-27.36%
11	SBUX	Starbucks CORP	Stock-Consumer Disc	2.69%	+0.35%	+4.07%
12	DINO	Hf Sinclair CORP	Stock-Energy	2.69%	+0.79%	+0.60%
13	CMI	Cummins INC	Stock-Industrials	2.54%	+0.21%	-0.61%
14	BLDR	Builders Firstsource INC	Stock-Industrials	2.24%	+2.24%	NEW
15	DIS	Walt Disney Co/the	Stock-Comm Services	1.76%	-0.15%	+4.67%
16	VLO	Valero Energy CORP	Stock-Energy	1.30%	-2.42%	-77.82%
17	XOM	Exxon Mobil CORP	Stock-Energy	1.17%	+0.37%	-0.07%
18	EQNR	Equinor Asa-spon Adr	Stock-Energy	0.89%	-0.74%	-70.60%
19	PSKY	Paramount Skydance Cl B	Stock-Comm Services	0.70%	-0.32%	-0.96%
20	TRV	Travelers Cos Inc/the	Stock-Financials	0.67%	+0.03%	—
21	MRK	Merck & Co. INC.	Stock-Healthcare	0.64%	+0.10%	+0.43%
22	COST	Costco Wholesale CORP	Stock-Consumer Staples	0.40%	+0.06%	-2.32%
23	GE	General Electric	Stock-Industrials	0.32%	-0.01%	—
24	NXPI	NXP Semiconductors N.V.	Stock-Tech	0.31%	-0.02%	-2.27%
25	GLDM	Spdr Gold Minishares Trust	ETF-Commodities	0.27%	+0.03%	—
26	GEV	GE Vernova INC	Stock-Industrials	0.21%	+0.06%	—
27	SMHI	Seacor Marine Holdings INC	Stock-Other	0.18%	+0.04%	—
28	CVX	Chevron CORP	Stock-Energy	0.15%	+0.04%	-5.10%
29	KO	Coca-cola Co/the	Stock-Consumer Staples	0.14%	+0.02%	—
30	AAPL	Apple INC	Stock-Tech	0.13%	—	—
31	AXP	American Express Co	Stock-Financials	0.12%	-0.03%	-0.15%
32	SGOV	Ishares 0-3 Month Treasury B	ETF-Gov Bonds	0.12%	+0.08%	+180.03%
33	PHYS	Sprott Physical Gold Trust	Stock-Other	0.10%	+0.01%	—
34	GOOG	Alphabet Inc-cl C	Stock-Comm Services	0.08%	+0.08%	NEW
35	SHEL	Shell Plc-adr	Stock-Energy	0.06%	+0.02%	—
36	MA	Mastercard INC - A	Stock-Financials	0.04%	+0.04%	NEW
37	GEHC	GE Healthcare Technology	Stock-Healthcare	0.04%	—	—
38	SIVR	Abrdn Physical Silver Shares	ETF-Commodities	0.04%	+0.01%	—
39	SYF	Synchrony Financial	Stock-Financials	0.04%	—	—
40	FLEX	Flex Ltd.	Stock-Tech	0.04%	+0.01%	—
41	PM	Philip Morris International	Stock-Consumer Staples	0.03%	+0.03%	NEW
42	NFLX	Netflix INC	Stock-Comm Services	0.03%	+0.03%	NEW
43	PSX	Phillips 66	Stock-Energy	0.03%	+0.03%	NEW
44	GOOGL	Alphabet Inc-cl A	Stock-Comm Services	0.02%	-0.01%	—

Portfolio Performance

Performance for Q3 2026

-1.1%

Performance Last 4 Quarters

+33.8%

Based on 68% of reported portfolio value with available pricing

Stdev: +19.5%
Beta: +0.6
Alpha: +20.1%
Max Drawdown: -11.1%
Annualized Perf: +29.9%
Batting Avg vs S&P: +50%
Sortino: +2.94
Stutzer: +0.42
Treynor: +0.47
Sterling: +1.6
Calmar: +2.7
Information Ratio: +0.78
Tracking Error: +18.7%
Stdev Down: +9.6%
Winning Months %: +70.8%
Losing Months %: +29.2%
Best 12 Months: +80.5%
Worst 12 Months: +26%
Efficiency Ratio: +0.58
Sharpe: +1.44
Stdev Sectors: +7.8%
Skewness: -0.18
Kurtosis: -0.83
Upside Potential: +4.55

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2026-03-31	44	$837.3M	27	1BRK-B 2BRK-A 3DG Top holdings2026-03-31 1.BRK-B 2.BRK-A 3.DG 4.DECK 5.ALK 6.OLN 7.DLTR 8.NEM 9.KGC 10.FIVE
2025-12-31	39	$869.6M	14	1BRK-B 2DG 3BRK-A Top holdings2025-12-31 1.BRK-B 2.DG 3.BRK-A 4.DECK 5.NEM 6.DLTR 7.KGC 8.FIVE 9.OLN 10.VLO
2025-09-30	38	$801.2M	33	1BRK-B 2DG 3BRK-A Top holdings2025-09-30 1.BRK-B 2.DG 3.BRK-A 4.KGC 5.NEM 6.OLN 7.FIVE 8.DLTR 9.DECK 10.VLO
2025-06-30	37	$710.6M	0	1BRK-B 2DG 3BRK-A Top holdings2025-06-30 1.BRK-B 2.DG 3.BRK-A 4.DLTR 5.KGC 6.FIVE 7.NEM 8.VLO 9.SBUX 10.DECK
2025-03-31	36	$620.3M	100	1BRK-B 2BRK-A 3DG Top holdings2025-03-31 1.BRK-B 2.BRK-A 3.DG 4.KGC 5.DLTR 6.NEM 7.VLO 8.SBUX 9.0VVB 10.OLN
2024-12-31	37	$559.5M	0	1BRK-B 2BRK-A 3DLTR Top holdings2024-12-31 1.BRK-B 2.BRK-A 3.DLTR 4.DG 5.KGC 6.NEM 7.VLO 8.ALK 9.SBUX 10.OLN
2024-09-30	37	$591.6M	0	1BRK-B 2BRK-A 3DG Top holdings2024-09-30 1.BRK-B 2.BRK-A 3.DG 4.KGC 5.NEM 6.DLTR 7.OLN 8.DINO 9.SBUX 10.0VVB
2024-06-30	39	$559.0M	0	1BRK-B 2BRK-A 3MCY Top holdings2024-06-30 1.BRK-B 2.BRK-A 3.MCY 4.DG 5.KGC 6.NEM 7.OLN 8.SBUX 9.0VVB 10.DINO
2024-03-31	36	$546.7M	0	1BRK-B 2BRK-A 3MCY Top holdings2024-03-31 1.BRK-B 2.BRK-A 3.MCY 4.DG 5.OLN 6.KGC 7.NEM 8.0VVB 9.DINO 10.DIS
2023-12-31	35	$477.8M	0	1BRK-B 2BRK-A 3DG Top holdings2023-12-31 1.BRK-B 2.BRK-A 3.DG 4.MCY 5.OLN 6.KGC 7.NEM 8.DIS 9.DINO 10.0VVB
2023-09-30	33	$417.2M	0	1BRK-B 2BRK-A 3DG Top holdings2023-09-30 1.BRK-B 2.BRK-A 3.DG 4.MCY 5.OLN 6.NEM 7.KGC 8.DINO 9.0VVB 10.ALK
2023-06-30	33	$423.0M	0	1BRK-B 2BRK-A 3MCY Top holdings2023-06-30 1.BRK-B 2.BRK-A 3.MCY 4.OLN 5.DG 6.NEM 7.KGC 8.0VVB 9.DINO 10.ALK
2023-03-31	34	$390.6M	0	1BRK-B 2BRK-A 3OLN Top holdings2023-03-31 1.BRK-B 2.BRK-A 3.OLN 4.NEM 5.0VVB 6.MCY 7.KGC 8.DG 9.DINO 10.VLO
2022-12-31	33	$367.3M	0	1BRK-B 2BRK-A 3OLN Top holdings2022-12-31 1.BRK-B 2.BRK-A 3.OLN 4.NEM 5.MCY 6.0VVB 7.VLO 8.DINO 9.KGC 10.XOM
2022-09-30	34	$330.6M	0	1BRK-B 2BRK-A 3OLN Top holdings2022-09-30 1.BRK-B 2.BRK-A 3.OLN 4.0VVB 5.NEM 6.MCY 7.DINO 8.KGC 9.VLO 10.XOM
2022-06-30	32	$337.5M	0	1BRK-B 2BRK-A 3OLN Top holdings2022-06-30 1.BRK-B 2.BRK-A 3.OLN 4.NEM 5.0VVB 6.YUSD 7.XOM 8.KGC 9.VLO 10.DINO
2022-03-31	32	$393.4M	0	1BRK-B 2BRK-A 3OLN Top holdings2022-03-31 1.BRK-B 2.BRK-A 3.OLN 4.0VVB 5.NEM 6.YUSD 7.KGC 8.XOM 9.VLO 10.DINO
2021-12-31	33	$320.5M	0	1BRK-B 2OLN 3BRK-A Top holdings2021-12-31 1.BRK-B 2.OLN 3.BRK-A 4.NEM 5.0VVB 6.KGC 7.XOM 8.DLTR 9.SBUX 10.VLO
2021-09-30	38	$309.5M	0	1BRK-B 2BRK-A 3OLN Top holdings2021-09-30 1.BRK-B 2.BRK-A 3.OLN 4.0VVB 5.NEM 6.KGC 7.XOM 8.HFCUSD 9.SBUX 10.VLO
2021-06-30	36	$301.2M	27	1BRK-B 2BRK-A 3OLN Top holdings2021-06-30 1.BRK-B 2.BRK-A 3.OLN 4.0VVB 5.NEM 6.KGC 7.XOM 8.SBUX 9.MCY 10.VLO
2021-03-31	30	$265.0M	16	1BRK-B 2BRK-A 3OLN Top holdings2021-03-31 1.BRK-B 2.BRK-A 3.OLN 4.NEM 5.MCY 6.SBUX 7.KGC 8.XOM 9.HFCUSD 10.NXPI
2020-12-31	30	$228.7M	24	1BRK-B 2BRK-A 3NEM Top holdings2020-12-31 1.BRK-B 2.BRK-A 3.NEM 4.OLN 5.MCY 6.SBUX 7.KGC 8.DIS 9.CMI 10.XOM
2020-09-30	27	$194.8M	13	1BRK-B 2BRK-A 3NEM Top holdings2020-09-30 1.BRK-B 2.BRK-A 3.NEM 4.KGC 5.SBUX 6.DIS 7.OLN 8.MCY 9.NXPI 10.CMI
2020-06-30	27	$176.9M	14	1BRK-B 2BRK-A 3NEM Top holdings2020-06-30 1.BRK-B 2.BRK-A 3.NEM 4.SBUX 5.KGC 6.DIS 7.MCY 8.OLN 9.XOM 10.NXPI
2020-03-31	27	$158.7M	38	1BRK-B 2BRK-A 3NEM Top holdings2020-03-31 1.BRK-B 2.BRK-A 3.NEM 4.SBUX 5.OLN 6.MCY 7.DIS 8.COST 9.XOM 10.KGC
2019-12-31	28	$186.2M	9	1BRK-B 2BRK-A 3NEM Top holdings2019-12-31 1.BRK-B 2.BRK-A 3.NEM 4.SBUX 5.DG 6.XOM 7.SWKS 8.NXPI 9.COST 10.CMI
2019-09-30	28	$174.6M	7	1BRK-B 2BRK-A 3NEM Top holdings2019-09-30 1.BRK-B 2.BRK-A 3.NEM 4.SBUX 5.DG 6.XOM 7.MCY 8.NXPI 9.COST 10.HXL
2019-06-30	27	$168.8M	15	1BRK-B 2BRK-A 3NEM Top holdings2019-06-30 1.BRK-B 2.BRK-A 3.NEM 4.SBUX 5.XOM 6.DG 7.MCY 8.COST 9.NXPI 10.CMI
2019-03-31	28	$162.8M	15	1BRK-B 2BRK-A 3SBUX Top holdings2019-03-31 1.BRK-B 2.BRK-A 3.SBUX 4.XOM 5.MCY 6.DG 7.NEM 8.SWKS 9.COST 10.NXPI
2018-12-31	28	$155.7M	16	1BRK-B 2BRK-A 3SBUX Top holdings2018-12-31 1.BRK-B 2.BRK-A 3.SBUX 4.MCY 5.XOM 6.DG 7.NEM 8.903293 9.COST 10.CMI
2018-09-30	29	$173.4M	17	1BRK-B 2BRK-A 3SBUX Top holdings2018-09-30 1.BRK-B 2.BRK-A 3.SBUX 4.XOM 5.MCY 6.SMHI 7.903293 8.DG 9.SNY 10.NEM
2018-06-30	29	$159.8M	22	1BRK-B 2BRK-A 3XOM Top holdings2018-06-30 1.BRK-B 2.BRK-A 3.XOM 4.SBUX 5.SMHI 6.MCY 7.NEM 8.903293 9.DG 10.380956
2018-03-31	26	$143.8M	10	1BRK-B 2BRK-A 3XOM Top holdings2018-03-31 1.BRK-B 2.BRK-A 3.XOM 4.MCY 5.NEM 6.SMHI 7.DG 8.380956 9.KGC 10.HXL
2017-12-31	26	$133.5M	11	1BRK-B 2BRK-A 3XOM Top holdings2017-12-31 1.BRK-B 2.BRK-A 3.XOM 4.NEM 5.DG 6.380956 7.SNY 8.HXL 9.SMHI 10.COST
2017-09-30	26	$135.2M	12	1BRK-B 2BRK-A 3XOM Top holdings2017-09-30 1.BRK-B 2.BRK-A 3.XOM 4.NEM 5.380956 6.SNY 7.DG 8.HXL 9.002444 10.SMHI
2017-06-30	28	$130.2M	12	1BRK-B 2BRK-A 3XOM Top holdings2017-06-30 1.BRK-B 2.BRK-A 3.XOM 4.NEM 5.380956 6.SNY 7.HXL 8.DG 9.002444 10.MCY
2017-03-31	28	$133.9M	12	1BRK-B 2BRK-A 3XOM Top holdings2017-03-31 1.BRK-B 2.BRK-A 3.XOM 4.NEM 5.380956 6.MRK 7.SNY 8.HXL 9.DG 10.MCY
2016-12-31	28	$134.8M	17	1BRK-B 2BRK-A 3XOM Top holdings2016-12-31 1.BRK-B 2.BRK-A 3.XOM 4.527288 5.NEM 6.380956 7.MRK 8.SNY 9.HXL 10.AEP
2016-09-30	30	$137.9M	5	1BRK-B 2BRK-A 3XOM Top holdings2016-09-30 1.BRK-B 2.BRK-A 3.XOM 4.MCY 5.NEM 6.380956 7.WAFD 8.527288 9.MRK 10.SNY
2016-06-30	30	$137.9M	18	1BRK-B 2BRK-A 3XOM Top holdings2016-06-30 1.BRK-B 2.BRK-A 3.XOM 4.MCY 5.NEM 6.380956 7.WAFD 8.527288 9.MRK 10.SNY
2016-03-31	30	$139.5M	18	1BRK-B 2XOM 3BRK-A Top holdings2016-03-31 1.BRK-B 2.XOM 3.BRK-A 4.MCY 5.380956 6.NEM 7.WAFD 8.527288 9.AEP 10.MRK
2015-12-31	32	$142.7M	8	1BRK-B 2XOM 3BRK-A Top holdings2015-12-31 1.BRK-B 2.XOM 3.BRK-A 4.MCY 5.740189 6.WAFD 7.527288 8.380956 9.MRK 10.MSFT
2015-09-30	31	$142.6M	14	1BRK-B 2XOM 3BRK-A Top holdings2015-09-30 1.BRK-B 2.XOM 3.BRK-A 4.MCY 5.740189 6.527288 7.380956 8.WAFD 9.SNY 10.MRK
2015-06-30	31	$149.4M	8	1BRK-B 2XOM 3BRK-A Top holdings2015-06-30 1.BRK-B 2.XOM 3.BRK-A 4.MCY 5.380956 6.527288 7.WAFD 8.MRK 9.SNY 10.AEP
2015-03-31	31	$153.8M	7	1BRK-B 2XOM 3BRK-A Top holdings2015-03-31 1.BRK-B 2.XOM 3.BRK-A 4.MCY 5.380956 6.527288 7.WAFD 8.MRK 9.SNY 10.INTC
2014-12-31	30	$156.5M	15	1BRK-B 2XOM 3BRK-A Top holdings2014-12-31 1.BRK-B 2.XOM 3.BRK-A 4.MCY 5.380956 6.527288 7.WAFD 8.MRK 9.INTC 10.SNY
2014-09-30	30	$163.0M	12	1BRK-B 2XOM 3BRK-A Top holdings2014-09-30 1.BRK-B 2.XOM 3.BRK-A 4.MCY 5.527288 6.NEM 7.MRK 8.SNY 9.WAFD 10.380956
2014-06-30	29	$170.2M	7	1BRK-B 2XOM 3BRK-A Top holdings2014-06-30 1.BRK-B 2.XOM 3.BRK-A 4.MCY 5.527288 6.NEM 7.MSFT 8.JNJ 9.380956 10.INTC
2014-03-31	30	$173.6M	7	1BRK-B 2XOM 3BRK-A Top holdings2014-03-31 1.BRK-B 2.XOM 3.BRK-A 4.MCY 5.527288 6.INTC 7.NEM 8.MSFT 9.JNJ 10.MRK
2013-12-31	31	$176.0M	13	1XOM 2BRK-B 3BRK-A Top holdings2013-12-31 1.XOM 2.BRK-B 3.BRK-A 4.MCY 5.527288 6.INTC 7.NEM 8.MRK 9.WAFD 10.MSFT
2013-09-30	30	$168.6M	6	1BRK-B 2XOM 3MCY Top holdings2013-09-30 1.BRK-B 2.XOM 3.MCY 4.BRK-A 5.NEM 6.527288 7.INTC 8.MRK 9.KGC 10.JNJ
2013-06-30	30	$169.5M	0	1BRK-B 2XOM 3MCY Top holdings2013-06-30 1.BRK-B 2.XOM 3.MCY 4.BRK-A 5.NEM 6.527288 7.INTC 8.MRK 9.KGC 10.MSFT

Holding changes this quarter

Semper Augustus Investments Group LLC's most significant position changes for 2026-03-31: New buy: Builders Firstsource INC (BLDR); New buy: Alphabet Inc-cl C (GOOG); Sold out: Ovintiv INC (OVV); New buy: Mastercard INC - A (MA); New buy: Philip Morris International (PM).

Position changes disclosed by Semper Augustus Investments Group LLC for the quarter ending 2026-03-31, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	ALK	Alaska Air Group INC	+5.1%	+314.15%	Add
2	OLN	Olin CORP	+2.6%	+4.42%	Add
3	DINO	Hf Sinclair CORP	+0.8%	+0.60%	Add
4	XOM	Exxon Mobil CORP	+0.4%	-0.07%	Trim
5	SBUX	Starbucks CORP	+0.4%	+4.07%	Add
6	DECK	Deckers Outdoor CORP	+0.3%	+3.33%	Add
7	CMI	Cummins INC	+0.2%	-0.61%	Trim
8	MRK	Merck & Co. INC.	+0.1%	+0.43%	Add
9	SGOV	Ishares 0-3 Month Treasury B	+0.1%	+180.03%	Add
10	BRK-B	Berkshire Hathaway Inc-cl B	+0.1%	+1.53%	Add
11	GEV	GE Vernova INC	+0.1%	—	Unchanged
12	COST	Costco Wholesale CORP	+0.1%	-2.32%	Trim
13	CVX	Chevron CORP	0%	-5.10%	Trim
14	SMHI	Seacor Marine Holdings INC	0%	—	Unchanged
15	GLDM	Spdr Gold Minishares Trust	0%	—	Unchanged
16	TRV	Travelers Cos Inc/the	0%	—	Unchanged
17	SHEL	Shell Plc-adr	0%	—	Unchanged
18	KO	Coca-cola Co/the	0%	—	Unchanged
19	PHYS	Sprott Physical Gold Trust	0%	—	Unchanged
20	FLEX	Flex Ltd.	0%	—	Unchanged
21	SIVR	Abrdn Physical Silver Shares	0%	—	Unchanged
22	AAPL	Apple INC	—	—	Unchanged
23	SYF	Synchrony Financial	—	—	Unchanged
24	GEHC	GE Healthcare Technology	—	—	Unchanged
25	GE	General Electric	0%	—	Unchanged
26	GOOGL	Alphabet Inc-cl A	0%	—	Unchanged
27	NXPI	NXP Semiconductors N.V.	0%	-2.27%	Trim
28	AXP	American Express Co	0%	-0.15%	Trim
29	BRK-A	Berkshire Hathaway Inc-cl A	-0.1%	—	Unchanged
30	DIS	Walt Disney Co/the	-0.2%	+4.67%	Add
31	PSKY	Paramount Skydance Cl B	-0.3%	-0.96%	Trim
32	FIVE	Five Below	-0.5%	-27.36%	Trim
33	DLTR	Dollar Tree INC	-0.5%	+0.16%	Add
34	EQNR	Equinor Asa-spon Adr	-0.7%	-70.60%	Trim
35	KGC	Kinross Gold CORP	-1.3%	-28.59%	Trim
36	NEM	Newmont CORP	-1.4%	-27.76%	Trim
37	VLO	Valero Energy CORP	-2.4%	-77.82%	Trim
38	DG	Dollar General CORP	-5%	-29.99%	Trim
39	BLDR	Builders Firstsource INC	—	NEW	New buy
40	GOOG	Alphabet Inc-cl C	—	NEW	New buy
41	OVV	Ovintiv INC	—	EXIT	Sold out
42	MA	Mastercard INC - A	—	NEW	New buy
43	PM	Philip Morris International	—	NEW	New buy
44	NFLX	Netflix INC	—	NEW	New buy
45	PSX	Phillips 66	—	NEW	New buy

Filing History

Period	Filed	Type	EDGAR
2026-03-31	2026-05-15	13F-HR	View on EDGAR
2025-12-31	2026-02-17	13F-HR	View on EDGAR
2025-09-30	2025-11-14	13F-HR	View on EDGAR
2025-06-30	2025-08-15	13F-HR	View on EDGAR
2025-03-31	2025-05-15	13F-HR	View on EDGAR
2024-12-31	2025-02-14	13F-HR	View on EDGAR
2024-09-30	2024-11-14	13F-HR	View on EDGAR
2024-06-30	2024-08-14	13F-HR	View on EDGAR
2024-03-31	2024-05-15	13F-HR	View on EDGAR
2023-12-31	2024-02-14	13F-HR	View on EDGAR
2023-09-30	2023-11-14	13F-HR	View on EDGAR
2023-06-30	2023-08-14	13F-HR	View on EDGAR
2023-03-31	2023-05-15	13F-HR	View on EDGAR
2022-12-31	2023-02-14	13F-HR	View on EDGAR
2022-09-30	2022-11-14	13F-HR	View on EDGAR
2022-06-30	2022-08-15	13F-HR	View on EDGAR
2022-03-31	2022-05-16	13F-HR	View on EDGAR
2021-12-31	2022-02-14	13F-HR	View on EDGAR
2021-09-30	2021-11-15	13F-HR	View on EDGAR
2021-06-30	2021-08-16	13F-HR	View on EDGAR
2021-03-31	2021-05-14	13F-HR	View on EDGAR
2020-12-31	2021-02-12	13F-HR	View on EDGAR
2020-09-30	2020-11-13	13F-HR	View on EDGAR
2020-06-30	2020-08-14	13F-HR	View on EDGAR
2020-03-31	2020-05-14	13F-HR	View on EDGAR
2019-12-31	2020-02-13	13F-HR	View on EDGAR
2019-09-30	2019-11-14	13F-HR	View on EDGAR
2019-06-30	2019-08-13	13F-HR	View on EDGAR
2019-03-31	2019-05-14	13F-HR	View on EDGAR
2018-12-31	2019-02-13	13F-HR	View on EDGAR
2018-09-30	2018-11-13	13F-HR	View on EDGAR
2018-06-30	2018-08-13	13F-HR	View on EDGAR
2018-03-31	2018-05-14	13F-HR	View on EDGAR
2017-12-31	2018-02-13	13F-HR	View on EDGAR
2017-09-30	2017-11-13	13F-HR	View on EDGAR
2017-06-30	2017-08-11	13F-HR	View on EDGAR
2017-03-31	2017-05-12	13F-HR	View on EDGAR
2016-12-31	2017-02-13	13F-HR	View on EDGAR
2016-09-30	2016-11-10	13F-HR	View on EDGAR
2016-06-30	2016-08-12	13F-HR	View on EDGAR
2016-03-31	2016-05-13	13F-HR	View on EDGAR
2015-12-31	2016-02-08	13F-HR	View on EDGAR
2015-09-30	2015-11-13	13F-HR	View on EDGAR
2015-06-30	2015-08-13	13F-HR	View on EDGAR
2015-03-31	2015-05-14	13F-HR	View on EDGAR
2014-12-31	2015-02-13	13F-HR	View on EDGAR
2014-09-30	2014-11-13	13F-HR	View on EDGAR
2014-06-30	2014-08-13	13F-HR	View on EDGAR
2014-03-31	2014-05-14	13F-HR	View on EDGAR
2013-12-31	2014-02-13	13F-HR	View on EDGAR
2013-09-30	2013-11-13	13F-HR	View on EDGAR
2013-06-30	2013-08-14	13F-HR	View on EDGAR

FAQ

What is Semper Augustus Investments Group LLC and what type of investor is it?

Semper Augustus Investments Group LLC is a investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-03-31), the firm manages a tracked equity portfolio valued at approximately $837.3M, spread across 44 disclosed positions.

What are Semper Augustus Investments Group LLC's largest equity positions?

Based on the latest 13F filing, Semper Augustus Investments Group LLC's top holdings by market value are: 1. Berkshire Hathaway Inc-cl B (BRK-B) — $121.2M (14.5%) 2. Berkshire Hathaway Inc-cl A (BRK-A) — $83.3M (9.9%) 3. Dollar General CORP (DG) — $77.0M (9.2%) 4. Deckers Outdoor CORP (DECK) — $66.2M (7.9%) 5. Alaska Air Group INC (ALK) — $62.3M (7.5%)

What changes did Semper Augustus Investments Group LLC make in its most recent portfolio filing?

In the latest reported quarter, Semper Augustus Investments Group LLC made 30 notable position adjustments: 6 new positions were initiated, 10 existing holdings were added to, 13 positions were partially reduced, and 1 were completely exited. The largest of these moves: New buy: Builders Firstsource INC (BLDR); New buy: Alphabet Inc-cl C (GOOG); Sold out: Ovintiv INC (OVV); New buy: Mastercard INC - A (MA); New buy: Philip Morris International (PM)

What sectors does Semper Augustus Investments Group LLC focus on?

Semper Augustus Investments Group LLC is concentrated in the following sectors based on its current disclosed equity portfolio: • Materials: 21.1% • Consumer Staples: 18.4% • Consumer Discretionary: 17.7% • Financials: 17.2% • Industrials: 14.3% • Energy: 7.0%

Peer Institutions

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Concentration8.6

Portfolio Stability21.3

Sector conviction48.0

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Eagle Strategies LLC

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Total reported value

$837.1M

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Perpetual Investment Management Ltd

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Total reported value

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Similar Holdings Style

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Total reported value

$966.7M

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2 of the top 5 holdings overlap, including Berkshire Hathaway Inc-cl A

View detail

Elkhorn Partners Limited Partnership

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Total reported value

$157.1M

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View detail

Hutner Capital Management INC

CIK 0000944733

Total reported value

$243.4M

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Concentration19.5

Portfolio Stability9.5

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2 of the top 5 holdings overlap, including Berkshire Hathaway Inc-cl A

View detail

Semper Augustus Investments Group LLC — 13F Filing Insights

CIK: 0001115373

Momentum followerDiversified strategyQuality / disciplined sizing

Total reported value

$837.3M

Reporting period: 2026-03-31 · Number of holdings: 44

SEMPER AUGUSTUS INVESTMENTS GROUP LLC disclosed 44 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $837.3M and a quarterly turnover rate of 26.6%.

Browse other institutions with $100M to $1B AUM Browse other institutions starting with "S"

Personality snowflake

Concentration: 29.56
Portfolio Stability: 26.6
Momentum/Contrarian: 100
Sector conviction: 49.79
Diversification: 88
Sizing Uniformity: 84.82

Position sizes vary widely across the portfolio (a coefficient of variation of 1.52), with a handful of outsized bets alongside many smaller positions.

Recent moves

Add ALK
+314.2%　$41.8M
Trim DG
-30.0%　-$46.0M
Add OLN
+4.4%　$19.8M
Trim VLO
-77.8%　-$21.5M
Trim NEM
-27.8%　-$14.4M
Trim KGC
-28.6%　-$13.4M

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	BRK-B	Berkshire Hathaway Inc-cl B	Stock-Other	14.48%	+0.07%	+1.53%
2	BRK-A	Berkshire Hathaway Inc-cl A	Stock-Other	9.95%	-0.12%	—
3	DG	Dollar General CORP	Stock-Consumer Staples	9.19%	-4.95%	-29.99%
4	DECK	Deckers Outdoor CORP	Stock-Consumer Disc	7.90%	+0.27%	+3.33%
5	ALK	Alaska Air Group INC	Stock-Industrials	7.45%	+5.08%	+314.15%
6	OLN	Olin CORP	Stock-Materials	7.21%	+2.55%	+4.42%
7	DLTR	Dollar Tree INC	Stock-Consumer Staples	6.72%	-0.53%	+0.16%
8	NEM	Newmont CORP	Stock-Materials	6.19%	-1.43%	-27.76%
9	KGC	Kinross Gold CORP	Stock-Materials	5.50%	-1.34%	-28.59%
10	FIVE	Five Below	Stock-Consumer Disc	5.26%	-0.49%	-27.36%
11	SBUX	Starbucks CORP	Stock-Consumer Disc	2.69%	+0.35%	+4.07%
12	DINO	Hf Sinclair CORP	Stock-Energy	2.69%	+0.79%	+0.60%
13	CMI	Cummins INC	Stock-Industrials	2.54%	+0.21%	-0.61%
14	BLDR	Builders Firstsource INC	Stock-Industrials	2.24%	+2.24%	NEW
15	DIS	Walt Disney Co/the	Stock-Comm Services	1.76%	-0.15%	+4.67%
16	VLO	Valero Energy CORP	Stock-Energy	1.30%	-2.42%	-77.82%
17	XOM	Exxon Mobil CORP	Stock-Energy	1.17%	+0.37%	-0.07%
18	EQNR	Equinor Asa-spon Adr	Stock-Energy	0.89%	-0.74%	-70.60%
19	PSKY	Paramount Skydance Cl B	Stock-Comm Services	0.70%	-0.32%	-0.96%
20	TRV	Travelers Cos Inc/the	Stock-Financials	0.67%	+0.03%	—
21	MRK	Merck & Co. INC.	Stock-Healthcare	0.64%	+0.10%	+0.43%
22	COST	Costco Wholesale CORP	Stock-Consumer Staples	0.40%	+0.06%	-2.32%
23	GE	General Electric	Stock-Industrials	0.32%	-0.01%	—
24	NXPI	NXP Semiconductors N.V.	Stock-Tech	0.31%	-0.02%	-2.27%
25	GLDM	Spdr Gold Minishares Trust	ETF-Commodities	0.27%	+0.03%	—
26	GEV	GE Vernova INC	Stock-Industrials	0.21%	+0.06%	—
27	SMHI	Seacor Marine Holdings INC	Stock-Other	0.18%	+0.04%	—
28	CVX	Chevron CORP	Stock-Energy	0.15%	+0.04%	-5.10%
29	KO	Coca-cola Co/the	Stock-Consumer Staples	0.14%	+0.02%	—
30	AAPL	Apple INC	Stock-Tech	0.13%	—	—
31	AXP	American Express Co	Stock-Financials	0.12%	-0.03%	-0.15%
32	SGOV	Ishares 0-3 Month Treasury B	ETF-Gov Bonds	0.12%	+0.08%	+180.03%
33	PHYS	Sprott Physical Gold Trust	Stock-Other	0.10%	+0.01%	—
34	GOOG	Alphabet Inc-cl C	Stock-Comm Services	0.08%	+0.08%	NEW
35	SHEL	Shell Plc-adr	Stock-Energy	0.06%	+0.02%	—
36	MA	Mastercard INC - A	Stock-Financials	0.04%	+0.04%	NEW
37	GEHC	GE Healthcare Technology	Stock-Healthcare	0.04%	—	—
38	SIVR	Abrdn Physical Silver Shares	ETF-Commodities	0.04%	+0.01%	—
39	SYF	Synchrony Financial	Stock-Financials	0.04%	—	—
40	FLEX	Flex Ltd.	Stock-Tech	0.04%	+0.01%	—
41	PM	Philip Morris International	Stock-Consumer Staples	0.03%	+0.03%	NEW
42	NFLX	Netflix INC	Stock-Comm Services	0.03%	+0.03%	NEW
43	PSX	Phillips 66	Stock-Energy	0.03%	+0.03%	NEW
44	GOOGL	Alphabet Inc-cl A	Stock-Comm Services	0.02%	-0.01%	—

Portfolio Performance

Performance for Q3 2026

-1.1%

Performance Last 4 Quarters

+33.8%

Based on 68% of reported portfolio value with available pricing

Stdev: +19.5%
Beta: +0.6
Alpha: +20.1%
Max Drawdown: -11.1%
Annualized Perf: +29.9%
Batting Avg vs S&P: +50%
Sortino: +2.94
Stutzer: +0.42
Treynor: +0.47
Sterling: +1.6
Calmar: +2.7
Information Ratio: +0.78
Tracking Error: +18.7%
Stdev Down: +9.6%
Winning Months %: +70.8%
Losing Months %: +29.2%
Best 12 Months: +80.5%
Worst 12 Months: +26%
Efficiency Ratio: +0.58
Sharpe: +1.44
Stdev Sectors: +7.8%
Skewness: -0.18
Kurtosis: -0.83
Upside Potential: +4.55

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2026-03-31	44	$837.3M	27	1BRK-B 2BRK-A 3DG Top holdings2026-03-31 1.BRK-B 2.BRK-A 3.DG 4.DECK 5.ALK 6.OLN 7.DLTR 8.NEM 9.KGC 10.FIVE
2025-12-31	39	$869.6M	14	1BRK-B 2DG 3BRK-A Top holdings2025-12-31 1.BRK-B 2.DG 3.BRK-A 4.DECK 5.NEM 6.DLTR 7.KGC 8.FIVE 9.OLN 10.VLO
2025-09-30	38	$801.2M	33	1BRK-B 2DG 3BRK-A Top holdings2025-09-30 1.BRK-B 2.DG 3.BRK-A 4.KGC 5.NEM 6.OLN 7.FIVE 8.DLTR 9.DECK 10.VLO
2025-06-30	37	$710.6M	0	1BRK-B 2DG 3BRK-A Top holdings2025-06-30 1.BRK-B 2.DG 3.BRK-A 4.DLTR 5.KGC 6.FIVE 7.NEM 8.VLO 9.SBUX 10.DECK
2025-03-31	36	$620.3M	100	1BRK-B 2BRK-A 3DG Top holdings2025-03-31 1.BRK-B 2.BRK-A 3.DG 4.KGC 5.DLTR 6.NEM 7.VLO 8.SBUX 9.0VVB 10.OLN
2024-12-31	37	$559.5M	0	1BRK-B 2BRK-A 3DLTR Top holdings2024-12-31 1.BRK-B 2.BRK-A 3.DLTR 4.DG 5.KGC 6.NEM 7.VLO 8.ALK 9.SBUX 10.OLN
2024-09-30	37	$591.6M	0	1BRK-B 2BRK-A 3DG Top holdings2024-09-30 1.BRK-B 2.BRK-A 3.DG 4.KGC 5.NEM 6.DLTR 7.OLN 8.DINO 9.SBUX 10.0VVB
2024-06-30	39	$559.0M	0	1BRK-B 2BRK-A 3MCY Top holdings2024-06-30 1.BRK-B 2.BRK-A 3.MCY 4.DG 5.KGC 6.NEM 7.OLN 8.SBUX 9.0VVB 10.DINO
2024-03-31	36	$546.7M	0	1BRK-B 2BRK-A 3MCY Top holdings2024-03-31 1.BRK-B 2.BRK-A 3.MCY 4.DG 5.OLN 6.KGC 7.NEM 8.0VVB 9.DINO 10.DIS
2023-12-31	35	$477.8M	0	1BRK-B 2BRK-A 3DG Top holdings2023-12-31 1.BRK-B 2.BRK-A 3.DG 4.MCY 5.OLN 6.KGC 7.NEM 8.DIS 9.DINO 10.0VVB
2023-09-30	33	$417.2M	0	1BRK-B 2BRK-A 3DG Top holdings2023-09-30 1.BRK-B 2.BRK-A 3.DG 4.MCY 5.OLN 6.NEM 7.KGC 8.DINO 9.0VVB 10.ALK
2023-06-30	33	$423.0M	0	1BRK-B 2BRK-A 3MCY Top holdings2023-06-30 1.BRK-B 2.BRK-A 3.MCY 4.OLN 5.DG 6.NEM 7.KGC 8.0VVB 9.DINO 10.ALK
2023-03-31	34	$390.6M	0	1BRK-B 2BRK-A 3OLN Top holdings2023-03-31 1.BRK-B 2.BRK-A 3.OLN 4.NEM 5.0VVB 6.MCY 7.KGC 8.DG 9.DINO 10.VLO
2022-12-31	33	$367.3M	0	1BRK-B 2BRK-A 3OLN Top holdings2022-12-31 1.BRK-B 2.BRK-A 3.OLN 4.NEM 5.MCY 6.0VVB 7.VLO 8.DINO 9.KGC 10.XOM
2022-09-30	34	$330.6M	0	1BRK-B 2BRK-A 3OLN Top holdings2022-09-30 1.BRK-B 2.BRK-A 3.OLN 4.0VVB 5.NEM 6.MCY 7.DINO 8.KGC 9.VLO 10.XOM
2022-06-30	32	$337.5M	0	1BRK-B 2BRK-A 3OLN Top holdings2022-06-30 1.BRK-B 2.BRK-A 3.OLN 4.NEM 5.0VVB 6.YUSD 7.XOM 8.KGC 9.VLO 10.DINO
2022-03-31	32	$393.4M	0	1BRK-B 2BRK-A 3OLN Top holdings2022-03-31 1.BRK-B 2.BRK-A 3.OLN 4.0VVB 5.NEM 6.YUSD 7.KGC 8.XOM 9.VLO 10.DINO
2021-12-31	33	$320.5M	0	1BRK-B 2OLN 3BRK-A Top holdings2021-12-31 1.BRK-B 2.OLN 3.BRK-A 4.NEM 5.0VVB 6.KGC 7.XOM 8.DLTR 9.SBUX 10.VLO
2021-09-30	38	$309.5M	0	1BRK-B 2BRK-A 3OLN Top holdings2021-09-30 1.BRK-B 2.BRK-A 3.OLN 4.0VVB 5.NEM 6.KGC 7.XOM 8.HFCUSD 9.SBUX 10.VLO
2021-06-30	36	$301.2M	27	1BRK-B 2BRK-A 3OLN Top holdings2021-06-30 1.BRK-B 2.BRK-A 3.OLN 4.0VVB 5.NEM 6.KGC 7.XOM 8.SBUX 9.MCY 10.VLO
2021-03-31	30	$265.0M	16	1BRK-B 2BRK-A 3OLN Top holdings2021-03-31 1.BRK-B 2.BRK-A 3.OLN 4.NEM 5.MCY 6.SBUX 7.KGC 8.XOM 9.HFCUSD 10.NXPI
2020-12-31	30	$228.7M	24	1BRK-B 2BRK-A 3NEM Top holdings2020-12-31 1.BRK-B 2.BRK-A 3.NEM 4.OLN 5.MCY 6.SBUX 7.KGC 8.DIS 9.CMI 10.XOM
2020-09-30	27	$194.8M	13	1BRK-B 2BRK-A 3NEM Top holdings2020-09-30 1.BRK-B 2.BRK-A 3.NEM 4.KGC 5.SBUX 6.DIS 7.OLN 8.MCY 9.NXPI 10.CMI
2020-06-30	27	$176.9M	14	1BRK-B 2BRK-A 3NEM Top holdings2020-06-30 1.BRK-B 2.BRK-A 3.NEM 4.SBUX 5.KGC 6.DIS 7.MCY 8.OLN 9.XOM 10.NXPI
2020-03-31	27	$158.7M	38	1BRK-B 2BRK-A 3NEM Top holdings2020-03-31 1.BRK-B 2.BRK-A 3.NEM 4.SBUX 5.OLN 6.MCY 7.DIS 8.COST 9.XOM 10.KGC
2019-12-31	28	$186.2M	9	1BRK-B 2BRK-A 3NEM Top holdings2019-12-31 1.BRK-B 2.BRK-A 3.NEM 4.SBUX 5.DG 6.XOM 7.SWKS 8.NXPI 9.COST 10.CMI
2019-09-30	28	$174.6M	7	1BRK-B 2BRK-A 3NEM Top holdings2019-09-30 1.BRK-B 2.BRK-A 3.NEM 4.SBUX 5.DG 6.XOM 7.MCY 8.NXPI 9.COST 10.HXL
2019-06-30	27	$168.8M	15	1BRK-B 2BRK-A 3NEM Top holdings2019-06-30 1.BRK-B 2.BRK-A 3.NEM 4.SBUX 5.XOM 6.DG 7.MCY 8.COST 9.NXPI 10.CMI
2019-03-31	28	$162.8M	15	1BRK-B 2BRK-A 3SBUX Top holdings2019-03-31 1.BRK-B 2.BRK-A 3.SBUX 4.XOM 5.MCY 6.DG 7.NEM 8.SWKS 9.COST 10.NXPI
2018-12-31	28	$155.7M	16	1BRK-B 2BRK-A 3SBUX Top holdings2018-12-31 1.BRK-B 2.BRK-A 3.SBUX 4.MCY 5.XOM 6.DG 7.NEM 8.903293 9.COST 10.CMI
2018-09-30	29	$173.4M	17	1BRK-B 2BRK-A 3SBUX Top holdings2018-09-30 1.BRK-B 2.BRK-A 3.SBUX 4.XOM 5.MCY 6.SMHI 7.903293 8.DG 9.SNY 10.NEM
2018-06-30	29	$159.8M	22	1BRK-B 2BRK-A 3XOM Top holdings2018-06-30 1.BRK-B 2.BRK-A 3.XOM 4.SBUX 5.SMHI 6.MCY 7.NEM 8.903293 9.DG 10.380956
2018-03-31	26	$143.8M	10	1BRK-B 2BRK-A 3XOM Top holdings2018-03-31 1.BRK-B 2.BRK-A 3.XOM 4.MCY 5.NEM 6.SMHI 7.DG 8.380956 9.KGC 10.HXL
2017-12-31	26	$133.5M	11	1BRK-B 2BRK-A 3XOM Top holdings2017-12-31 1.BRK-B 2.BRK-A 3.XOM 4.NEM 5.DG 6.380956 7.SNY 8.HXL 9.SMHI 10.COST
2017-09-30	26	$135.2M	12	1BRK-B 2BRK-A 3XOM Top holdings2017-09-30 1.BRK-B 2.BRK-A 3.XOM 4.NEM 5.380956 6.SNY 7.DG 8.HXL 9.002444 10.SMHI
2017-06-30	28	$130.2M	12	1BRK-B 2BRK-A 3XOM Top holdings2017-06-30 1.BRK-B 2.BRK-A 3.XOM 4.NEM 5.380956 6.SNY 7.HXL 8.DG 9.002444 10.MCY
2017-03-31	28	$133.9M	12	1BRK-B 2BRK-A 3XOM Top holdings2017-03-31 1.BRK-B 2.BRK-A 3.XOM 4.NEM 5.380956 6.MRK 7.SNY 8.HXL 9.DG 10.MCY
2016-12-31	28	$134.8M	17	1BRK-B 2BRK-A 3XOM Top holdings2016-12-31 1.BRK-B 2.BRK-A 3.XOM 4.527288 5.NEM 6.380956 7.MRK 8.SNY 9.HXL 10.AEP
2016-09-30	30	$137.9M	5	1BRK-B 2BRK-A 3XOM Top holdings2016-09-30 1.BRK-B 2.BRK-A 3.XOM 4.MCY 5.NEM 6.380956 7.WAFD 8.527288 9.MRK 10.SNY
2016-06-30	30	$137.9M	18	1BRK-B 2BRK-A 3XOM Top holdings2016-06-30 1.BRK-B 2.BRK-A 3.XOM 4.MCY 5.NEM 6.380956 7.WAFD 8.527288 9.MRK 10.SNY
2016-03-31	30	$139.5M	18	1BRK-B 2XOM 3BRK-A Top holdings2016-03-31 1.BRK-B 2.XOM 3.BRK-A 4.MCY 5.380956 6.NEM 7.WAFD 8.527288 9.AEP 10.MRK
2015-12-31	32	$142.7M	8	1BRK-B 2XOM 3BRK-A Top holdings2015-12-31 1.BRK-B 2.XOM 3.BRK-A 4.MCY 5.740189 6.WAFD 7.527288 8.380956 9.MRK 10.MSFT
2015-09-30	31	$142.6M	14	1BRK-B 2XOM 3BRK-A Top holdings2015-09-30 1.BRK-B 2.XOM 3.BRK-A 4.MCY 5.740189 6.527288 7.380956 8.WAFD 9.SNY 10.MRK
2015-06-30	31	$149.4M	8	1BRK-B 2XOM 3BRK-A Top holdings2015-06-30 1.BRK-B 2.XOM 3.BRK-A 4.MCY 5.380956 6.527288 7.WAFD 8.MRK 9.SNY 10.AEP
2015-03-31	31	$153.8M	7	1BRK-B 2XOM 3BRK-A Top holdings2015-03-31 1.BRK-B 2.XOM 3.BRK-A 4.MCY 5.380956 6.527288 7.WAFD 8.MRK 9.SNY 10.INTC
2014-12-31	30	$156.5M	15	1BRK-B 2XOM 3BRK-A Top holdings2014-12-31 1.BRK-B 2.XOM 3.BRK-A 4.MCY 5.380956 6.527288 7.WAFD 8.MRK 9.INTC 10.SNY
2014-09-30	30	$163.0M	12	1BRK-B 2XOM 3BRK-A Top holdings2014-09-30 1.BRK-B 2.XOM 3.BRK-A 4.MCY 5.527288 6.NEM 7.MRK 8.SNY 9.WAFD 10.380956
2014-06-30	29	$170.2M	7	1BRK-B 2XOM 3BRK-A Top holdings2014-06-30 1.BRK-B 2.XOM 3.BRK-A 4.MCY 5.527288 6.NEM 7.MSFT 8.JNJ 9.380956 10.INTC
2014-03-31	30	$173.6M	7	1BRK-B 2XOM 3BRK-A Top holdings2014-03-31 1.BRK-B 2.XOM 3.BRK-A 4.MCY 5.527288 6.INTC 7.NEM 8.MSFT 9.JNJ 10.MRK
2013-12-31	31	$176.0M	13	1XOM 2BRK-B 3BRK-A Top holdings2013-12-31 1.XOM 2.BRK-B 3.BRK-A 4.MCY 5.527288 6.INTC 7.NEM 8.MRK 9.WAFD 10.MSFT
2013-09-30	30	$168.6M	6	1BRK-B 2XOM 3MCY Top holdings2013-09-30 1.BRK-B 2.XOM 3.MCY 4.BRK-A 5.NEM 6.527288 7.INTC 8.MRK 9.KGC 10.JNJ
2013-06-30	30	$169.5M	0	1BRK-B 2XOM 3MCY Top holdings2013-06-30 1.BRK-B 2.XOM 3.MCY 4.BRK-A 5.NEM 6.527288 7.INTC 8.MRK 9.KGC 10.MSFT

Holding changes this quarter

Position changes disclosed by Semper Augustus Investments Group LLC for the quarter ending 2026-03-31, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	ALK	Alaska Air Group INC	+5.1%	+314.15%	Add
2	OLN	Olin CORP	+2.6%	+4.42%	Add
3	DINO	Hf Sinclair CORP	+0.8%	+0.60%	Add
4	XOM	Exxon Mobil CORP	+0.4%	-0.07%	Trim
5	SBUX	Starbucks CORP	+0.4%	+4.07%	Add
6	DECK	Deckers Outdoor CORP	+0.3%	+3.33%	Add
7	CMI	Cummins INC	+0.2%	-0.61%	Trim
8	MRK	Merck & Co. INC.	+0.1%	+0.43%	Add
9	SGOV	Ishares 0-3 Month Treasury B	+0.1%	+180.03%	Add
10	BRK-B	Berkshire Hathaway Inc-cl B	+0.1%	+1.53%	Add
11	GEV	GE Vernova INC	+0.1%	—	Unchanged
12	COST	Costco Wholesale CORP	+0.1%	-2.32%	Trim
13	CVX	Chevron CORP	0%	-5.10%	Trim
14	SMHI	Seacor Marine Holdings INC	0%	—	Unchanged
15	GLDM	Spdr Gold Minishares Trust	0%	—	Unchanged
16	TRV	Travelers Cos Inc/the	0%	—	Unchanged
17	SHEL	Shell Plc-adr	0%	—	Unchanged
18	KO	Coca-cola Co/the	0%	—	Unchanged
19	PHYS	Sprott Physical Gold Trust	0%	—	Unchanged
20	FLEX	Flex Ltd.	0%	—	Unchanged
21	SIVR	Abrdn Physical Silver Shares	0%	—	Unchanged
22	AAPL	Apple INC	—	—	Unchanged
23	SYF	Synchrony Financial	—	—	Unchanged
24	GEHC	GE Healthcare Technology	—	—	Unchanged
25	GE	General Electric	0%	—	Unchanged
26	GOOGL	Alphabet Inc-cl A	0%	—	Unchanged
27	NXPI	NXP Semiconductors N.V.	0%	-2.27%	Trim
28	AXP	American Express Co	0%	-0.15%	Trim
29	BRK-A	Berkshire Hathaway Inc-cl A	-0.1%	—	Unchanged
30	DIS	Walt Disney Co/the	-0.2%	+4.67%	Add
31	PSKY	Paramount Skydance Cl B	-0.3%	-0.96%	Trim
32	FIVE	Five Below	-0.5%	-27.36%	Trim
33	DLTR	Dollar Tree INC	-0.5%	+0.16%	Add
34	EQNR	Equinor Asa-spon Adr	-0.7%	-70.60%	Trim
35	KGC	Kinross Gold CORP	-1.3%	-28.59%	Trim
36	NEM	Newmont CORP	-1.4%	-27.76%	Trim
37	VLO	Valero Energy CORP	-2.4%	-77.82%	Trim
38	DG	Dollar General CORP	-5%	-29.99%	Trim
39	BLDR	Builders Firstsource INC	—	NEW	New buy
40	GOOG	Alphabet Inc-cl C	—	NEW	New buy
41	OVV	Ovintiv INC	—	EXIT	Sold out
42	MA	Mastercard INC - A	—	NEW	New buy
43	PM	Philip Morris International	—	NEW	New buy
44	NFLX	Netflix INC	—	NEW	New buy
45	PSX	Phillips 66	—	NEW	New buy

Filing History

Period	Filed	Type	EDGAR
2026-03-31	2026-05-15	13F-HR	View on EDGAR
2025-12-31	2026-02-17	13F-HR	View on EDGAR
2025-09-30	2025-11-14	13F-HR	View on EDGAR
2025-06-30	2025-08-15	13F-HR	View on EDGAR
2025-03-31	2025-05-15	13F-HR	View on EDGAR
2024-12-31	2025-02-14	13F-HR	View on EDGAR
2024-09-30	2024-11-14	13F-HR	View on EDGAR
2024-06-30	2024-08-14	13F-HR	View on EDGAR
2024-03-31	2024-05-15	13F-HR	View on EDGAR
2023-12-31	2024-02-14	13F-HR	View on EDGAR
2023-09-30	2023-11-14	13F-HR	View on EDGAR
2023-06-30	2023-08-14	13F-HR	View on EDGAR
2023-03-31	2023-05-15	13F-HR	View on EDGAR
2022-12-31	2023-02-14	13F-HR	View on EDGAR
2022-09-30	2022-11-14	13F-HR	View on EDGAR
2022-06-30	2022-08-15	13F-HR	View on EDGAR
2022-03-31	2022-05-16	13F-HR	View on EDGAR
2021-12-31	2022-02-14	13F-HR	View on EDGAR
2021-09-30	2021-11-15	13F-HR	View on EDGAR
2021-06-30	2021-08-16	13F-HR	View on EDGAR
2021-03-31	2021-05-14	13F-HR	View on EDGAR
2020-12-31	2021-02-12	13F-HR	View on EDGAR
2020-09-30	2020-11-13	13F-HR	View on EDGAR
2020-06-30	2020-08-14	13F-HR	View on EDGAR
2020-03-31	2020-05-14	13F-HR	View on EDGAR
2019-12-31	2020-02-13	13F-HR	View on EDGAR
2019-09-30	2019-11-14	13F-HR	View on EDGAR
2019-06-30	2019-08-13	13F-HR	View on EDGAR
2019-03-31	2019-05-14	13F-HR	View on EDGAR
2018-12-31	2019-02-13	13F-HR	View on EDGAR
2018-09-30	2018-11-13	13F-HR	View on EDGAR
2018-06-30	2018-08-13	13F-HR	View on EDGAR
2018-03-31	2018-05-14	13F-HR	View on EDGAR
2017-12-31	2018-02-13	13F-HR	View on EDGAR
2017-09-30	2017-11-13	13F-HR	View on EDGAR
2017-06-30	2017-08-11	13F-HR	View on EDGAR
2017-03-31	2017-05-12	13F-HR	View on EDGAR
2016-12-31	2017-02-13	13F-HR	View on EDGAR
2016-09-30	2016-11-10	13F-HR	View on EDGAR
2016-06-30	2016-08-12	13F-HR	View on EDGAR
2016-03-31	2016-05-13	13F-HR	View on EDGAR
2015-12-31	2016-02-08	13F-HR	View on EDGAR
2015-09-30	2015-11-13	13F-HR	View on EDGAR
2015-06-30	2015-08-13	13F-HR	View on EDGAR
2015-03-31	2015-05-14	13F-HR	View on EDGAR
2014-12-31	2015-02-13	13F-HR	View on EDGAR
2014-09-30	2014-11-13	13F-HR	View on EDGAR
2014-06-30	2014-08-13	13F-HR	View on EDGAR
2014-03-31	2014-05-14	13F-HR	View on EDGAR
2013-12-31	2014-02-13	13F-HR	View on EDGAR
2013-09-30	2013-11-13	13F-HR	View on EDGAR
2013-06-30	2013-08-14	13F-HR	View on EDGAR