{
 "manager": "Semper Augustus",
 "page": "https://www.moatshark.com/m/semper-augustus",
 "form": "13F-HR",
 "period": "2026-06-30",
 "filed": "2026-08-14",
 "previous_period": "2026-03-31",
 "filing_url": "https://www.sec.gov/Archives/edgar/data/1115373/000194104026000625/0001941040-26-000625-index.htm",
 "total_value_usd": 884603403,
 "note": "Source: SEC filings via moatshark. Values and changes are estimates; not investment advice.",
 "holdings": [
  {
   "company": "Berkshire Hathaway",
   "ticker": "BRK.B",
   "moatshark_slug": "brk-b",
   "sector": "Insurance",
   "value_usd": 226541027,
   "shares": 273265,
   "portfolio_pct": 25.61,
   "previous_pct": 24.43,
   "change": "ADD",
   "share_change_pct": 7.9,
   "quarters_held": 53
  },
  {
   "company": "Alaska Air Group",
   "ticker": "ALK",
   "moatshark_slug": "alk",
   "sector": "Industrials",
   "value_usd": 93627329,
   "shares": 1793627,
   "portfolio_pct": 10.58,
   "previous_pct": 7.45,
   "change": "ADD",
   "share_change_pct": 5.8,
   "quarters_held": 26
  },
  {
   "company": "Dollar General",
   "ticker": "DG",
   "moatshark_slug": "dg",
   "sector": "Consumer discretionary",
   "value_usd": 76583445,
   "shares": 665307,
   "portfolio_pct": 8.66,
   "previous_pct": 9.19,
   "change": "ADD",
   "share_change_pct": 2.6,
   "quarters_held": 38
  },
  {
   "company": "Deckers Outdoor",
   "ticker": "DECK",
   "moatshark_slug": "deck",
   "sector": "Other",
   "value_usd": 66544059,
   "shares": 670199,
   "portfolio_pct": 7.52,
   "previous_pct": 7.9,
   "change": "ADD",
   "share_change_pct": 1.4,
   "quarters_held": 5
  },
  {
   "company": "Dollar Tree",
   "ticker": "DLTR",
   "moatshark_slug": "dltr",
   "sector": "Consumer discretionary",
   "value_usd": 64117167,
   "shares": 530113,
   "portfolio_pct": 7.25,
   "previous_pct": 6.72,
   "change": "ADD",
   "share_change_pct": 3.2,
   "quarters_held": 20
  },
  {
   "company": "Builders Firstsource",
   "ticker": "BLDR",
   "moatshark_slug": "bldr",
   "sector": "Consumer discretionary",
   "value_usd": 49547045,
   "shares": 553722,
   "portfolio_pct": 5.6,
   "previous_pct": 2.24,
   "change": "ADD",
   "share_change_pct": 142.6,
   "quarters_held": 2
  },
  {
   "company": "Olin",
   "ticker": "OLN",
   "moatshark_slug": "oln",
   "sector": "Materials",
   "value_usd": 42688822,
   "shares": 2153826,
   "portfolio_pct": 4.83,
   "previous_pct": 7.21,
   "change": "ADD",
   "share_change_pct": 6.1,
   "quarters_held": 28
  },
  {
   "company": "Newmont",
   "ticker": "NEM",
   "moatshark_slug": "nem",
   "sector": "Materials",
   "value_usd": 41771064,
   "shares": 447228,
   "portfolio_pct": 4.72,
   "previous_pct": 6.19,
   "change": "REDUCE",
   "share_change_pct": -6.7,
   "quarters_held": 53
  },
  {
   "company": "Kinross Gold",
   "ticker": "KGC",
   "moatshark_slug": "kgc",
   "sector": "Materials",
   "value_usd": 36587262,
   "shares": 1548995,
   "portfolio_pct": 4.14,
   "previous_pct": 5.5,
   "change": "ADD",
   "share_change_pct": 2.7,
   "quarters_held": 53
  },
  {
   "company": "Paychex",
   "ticker": "PAYX",
   "moatshark_slug": "payx",
   "sector": "Industrials",
   "value_usd": 20810577,
   "shares": 211640,
   "portfolio_pct": 2.35,
   "previous_pct": null,
   "change": "NEW",
   "share_change_pct": null,
   "quarters_held": 1
  },
  {
   "company": "Five Below",
   "ticker": "FIVE",
   "moatshark_slug": "five",
   "sector": "Consumer discretionary",
   "value_usd": 18996072,
   "shares": 105657,
   "portfolio_pct": 2.15,
   "previous_pct": 5.26,
   "change": "REDUCE",
   "share_change_pct": -45.2,
   "quarters_held": 9
  },
  {
   "company": "S&P Global",
   "ticker": "SPGI",
   "moatshark_slug": "spgi",
   "sector": "Financials",
   "value_usd": 18729480,
   "shares": 45989,
   "portfolio_pct": 2.12,
   "previous_pct": null,
   "change": "NEW",
   "share_change_pct": null,
   "quarters_held": 1
  },
  {
   "company": "HF Sinclair",
   "ticker": "DINO",
   "moatshark_slug": "dino",
   "sector": "Industrials",
   "value_usd": 17564807,
   "shares": 252187,
   "portfolio_pct": 1.99,
   "previous_pct": 2.69,
   "change": "REDUCE",
   "share_change_pct": -30.1,
   "quarters_held": 18
  },
  {
   "company": "Walt Disney",
   "ticker": "DIS",
   "moatshark_slug": "dis",
   "sector": "Consumer discretionary",
   "value_usd": 15462848,
   "shares": 160653,
   "portfolio_pct": 1.75,
   "previous_pct": 1.76,
   "change": "ADD",
   "share_change_pct": 5.3,
   "quarters_held": 33
  },
  {
   "company": "Cognizant Technology Solutions",
   "ticker": "CTSH",
   "moatshark_slug": "ctsh",
   "sector": "Technology",
   "value_usd": 14639591,
   "shares": 377991,
   "portfolio_pct": 1.65,
   "previous_pct": null,
   "change": "NEW",
   "share_change_pct": null,
   "quarters_held": 1
  },
  {
   "company": "Valero Energy",
   "ticker": "VLO",
   "moatshark_slug": "vlo",
   "sector": "Energy",
   "value_usd": 9868963,
   "shares": 37893,
   "portfolio_pct": 1.12,
   "previous_pct": 1.3,
   "change": "REDUCE",
   "share_change_pct": -14,
   "quarters_held": 23
  },
  {
   "company": "Cummins",
   "ticker": "CMI",
   "moatshark_slug": "cmi",
   "sector": "Industrials",
   "value_usd": 9251760,
   "shares": 12972,
   "portfolio_pct": 1.05,
   "previous_pct": 2.54,
   "change": "REDUCE",
   "share_change_pct": -67.2,
   "quarters_held": 32
  },
  {
   "company": "Exxon Mobil",
   "ticker": "EXMOC",
   "moatshark_slug": "exmoc",
   "sector": null,
   "value_usd": 7817103,
   "shares": 57176,
   "portfolio_pct": 0.88,
   "previous_pct": 1.17,
   "change": "REDUCE",
   "share_change_pct": -0.6,
   "quarters_held": 53
  },
  {
   "company": "Paramount Skydance",
   "ticker": "SKYD",
   "moatshark_slug": "skyd",
   "sector": "Communication and media",
   "value_usd": 6397512,
   "shares": 648835,
   "portfolio_pct": 0.72,
   "previous_pct": 0.7,
   "change": "REDUCE",
   "share_change_pct": -0.6,
   "quarters_held": 4
  },
  {
   "company": "Travelers Companies",
   "ticker": "TRV",
   "moatshark_slug": "trv",
   "sector": "Insurance",
   "value_usd": 6305292,
   "shares": 19100,
   "portfolio_pct": 0.71,
   "previous_pct": 0.67,
   "change": "HOLD",
   "share_change_pct": 0,
   "quarters_held": 53
  },
  {
   "company": "Merck & Co.",
   "ticker": "MRK",
   "moatshark_slug": "mrk",
   "sector": "Health care",
   "value_usd": 5735341,
   "shares": 44633,
   "portfolio_pct": 0.65,
   "previous_pct": 0.64,
   "change": "HOLD",
   "share_change_pct": 0,
   "quarters_held": 53
  },
  {
   "company": "Equinor",
   "ticker": "EQNR",
   "moatshark_slug": "eqnr",
   "sector": "Energy",
   "value_usd": 5060895,
   "shares": 161175,
   "portfolio_pct": 0.57,
   "previous_pct": 0.89,
   "change": "REDUCE",
   "share_change_pct": -8.4,
   "quarters_held": 33
  },
  {
   "company": "Starbucks",
   "ticker": "SBUX",
   "moatshark_slug": "sbux",
   "sector": "Consumer discretionary",
   "value_usd": 4676339,
   "shares": 45761,
   "portfolio_pct": 0.53,
   "previous_pct": 2.69,
   "change": "REDUCE",
   "share_change_pct": -81.8,
   "quarters_held": 33
  },
  {
   "company": "GE Aerospace",
   "ticker": "GE",
   "moatshark_slug": "ge",
   "sector": "Industrials",
   "value_usd": 3495123,
   "shares": 9352,
   "portfolio_pct": 0.4,
   "previous_pct": 0.32,
   "change": "HOLD",
   "share_change_pct": 0,
   "quarters_held": 20
  },
  {
   "company": "Costco Wholesale",
   "ticker": "COST",
   "moatshark_slug": "cost",
   "sector": "Consumer discretionary",
   "value_usd": 3137566,
   "shares": 3354,
   "portfolio_pct": 0.35,
   "previous_pct": 0.4,
   "change": "REDUCE",
   "share_change_pct": -0.4,
   "quarters_held": 53
  },
  {
   "company": "Ge Vernova",
   "ticker": "GEV",
   "moatshark_slug": "gev",
   "sector": "Industrials",
   "value_usd": 2342671,
   "shares": 1994,
   "portfolio_pct": 0.26,
   "previous_pct": 0.21,
   "change": "HOLD",
   "share_change_pct": 0,
   "quarters_held": 9
  },
  {
   "company": "NXP Semiconductors",
   "ticker": "NXPI",
   "moatshark_slug": "nxpi",
   "sector": "Technology",
   "value_usd": 2153252,
   "shares": 7662,
   "portfolio_pct": 0.24,
   "previous_pct": 0.31,
   "change": "REDUCE",
   "share_change_pct": -41,
   "quarters_held": 32
  },
  {
   "company": "World Gold Trust",
   "ticker": "GLDM",
   "moatshark_slug": "gldm",
   "sector": "Financials",
   "value_usd": 1911083,
   "shares": 24063,
   "portfolio_pct": 0.22,
   "previous_pct": 0.27,
   "change": "ADD",
   "share_change_pct": 0.4,
   "quarters_held": 8
  },
  {
   "company": "Seacor Marine Holdings",
   "ticker": "SMHI",
   "moatshark_slug": "smhi",
   "sector": "Industrials",
   "value_usd": 1592539,
   "shares": 208175,
   "portfolio_pct": 0.18,
   "previous_pct": 0.18,
   "change": "HOLD",
   "share_change_pct": 0,
   "quarters_held": 37
  },
  {
   "company": "Apple",
   "ticker": "AAPL",
   "moatshark_slug": "aapl",
   "sector": "Technology",
   "value_usd": 1342630,
   "shares": 4640,
   "portfolio_pct": 0.15,
   "previous_pct": 0.13,
   "change": "ADD",
   "share_change_pct": 12.1,
   "quarters_held": 16
  },
  {
   "company": "Coca-Cola",
   "ticker": "KO",
   "moatshark_slug": "ko",
   "sector": "Consumer staples",
   "value_usd": 1245707,
   "shares": 15328,
   "portfolio_pct": 0.14,
   "previous_pct": 0.14,
   "change": "HOLD",
   "share_change_pct": 0,
   "quarters_held": 53
  },
  {
   "company": "American Express",
   "ticker": "AXP",
   "moatshark_slug": "axp",
   "sector": "Financials",
   "value_usd": 1119946,
   "shares": 3311,
   "portfolio_pct": 0.13,
   "previous_pct": 0.12,
   "change": "REDUCE",
   "share_change_pct": -3.6,
   "quarters_held": 46
  },
  {
   "company": "Alphabet",
   "ticker": "GOOG",
   "moatshark_slug": "goog",
   "sector": "Communication and media",
   "value_usd": 1109458,
   "shares": 3132,
   "portfolio_pct": 0.13,
   "previous_pct": 0.11,
   "change": "HOLD",
   "share_change_pct": 0,
   "quarters_held": 3
  },
  {
   "company": "Chevron",
   "ticker": "CVX",
   "moatshark_slug": "cvx",
   "sector": "Energy",
   "value_usd": 1005003,
   "shares": 6063,
   "portfolio_pct": 0.11,
   "previous_pct": 0.15,
   "change": "HOLD",
   "share_change_pct": 0,
   "quarters_held": 22
  },
  {
   "company": "Ishares Tr",
   "ticker": "SGOV",
   "moatshark_slug": "sgov",
   "sector": null,
   "value_usd": 862742,
   "shares": 8570,
   "portfolio_pct": 0.1,
   "previous_pct": 0.12,
   "change": "REDUCE",
   "share_change_pct": -13.6,
   "quarters_held": 6
  },
  {
   "company": "Sprott Physical Gold Trust",
   "ticker": "PHYS",
   "moatshark_slug": "phys",
   "sector": "Financials",
   "value_usd": 720128,
   "shares": 23869,
   "portfolio_pct": 0.08,
   "previous_pct": 0.1,
   "change": "HOLD",
   "share_change_pct": 0,
   "quarters_held": 9
  },
  {
   "company": "Shell",
   "ticker": "RDS.A",
   "moatshark_slug": "rds-a",
   "sector": "Energy",
   "value_usd": 385219,
   "shares": 4968,
   "portfolio_pct": 0.04,
   "previous_pct": 0.06,
   "change": "HOLD",
   "share_change_pct": 0,
   "quarters_held": 18
  },
  {
   "company": "Mastercard",
   "ticker": "MA",
   "moatshark_slug": "ma",
   "sector": "Financials",
   "value_usd": 338038,
   "shares": 658,
   "portfolio_pct": 0.04,
   "previous_pct": 0.04,
   "change": "HOLD",
   "share_change_pct": 0,
   "quarters_held": 2
  },
  {
   "company": "Synchrony Financial",
   "ticker": "SYF",
   "moatshark_slug": "syf",
   "sector": "Financials",
   "value_usd": 337434,
   "shares": 4437,
   "portfolio_pct": 0.04,
   "previous_pct": 0.04,
   "change": "HOLD",
   "share_change_pct": 0,
   "quarters_held": 9
  },
  {
   "company": "Philip Morris International",
   "ticker": "PM",
   "moatshark_slug": "pm",
   "sector": "Consumer staples",
   "value_usd": 318763,
   "shares": 1762,
   "portfolio_pct": 0.04,
   "previous_pct": 0.03,
   "change": "HOLD",
   "share_change_pct": 0,
   "quarters_held": 2
  },
  {
   "company": "GE HealthCare Technologies",
   "ticker": "GEHC",
   "moatshark_slug": "gehc",
   "sector": "Health care",
   "value_usd": 293230,
   "shares": 4581,
   "portfolio_pct": 0.03,
   "previous_pct": 0.04,
   "change": "HOLD",
   "share_change_pct": 0,
   "quarters_held": 14
  },
  {
   "company": "Phillips 66",
   "ticker": "PSX",
   "moatshark_slug": "psx",
   "sector": "Energy",
   "value_usd": 248842,
   "shares": 1472,
   "portfolio_pct": 0.03,
   "previous_pct": 0.03,
   "change": "HOLD",
   "share_change_pct": 0,
   "quarters_held": 2
  },
  {
   "company": "Microsoft",
   "ticker": "MSFT",
   "moatshark_slug": "msft",
   "sector": "Technology",
   "value_usd": 239106,
   "shares": 641,
   "portfolio_pct": 0.03,
   "previous_pct": null,
   "change": "NEW",
   "share_change_pct": null,
   "quarters_held": 1
  },
  {
   "company": "Abrdn Silver Etf Trust",
   "ticker": "SIVR",
   "moatshark_slug": "sivr",
   "sector": "Financials",
   "value_usd": 238654,
   "shares": 4245,
   "portfolio_pct": 0.03,
   "previous_pct": 0.04,
   "change": "HOLD",
   "share_change_pct": 0,
   "quarters_held": 3
  },
  {
   "company": "Microchip Technology",
   "ticker": "MCHP",
   "moatshark_slug": "mchp",
   "sector": "Technology",
   "value_usd": 220522,
   "shares": 2418,
   "portfolio_pct": 0.02,
   "previous_pct": null,
   "change": "NEW",
   "share_change_pct": null,
   "quarters_held": 1
  },
  {
   "company": "Netflix",
   "ticker": "NFLX",
   "moatshark_slug": "nflx",
   "sector": "Communication and media",
   "value_usd": 212772,
   "shares": 2980,
   "portfolio_pct": 0.02,
   "previous_pct": 0.03,
   "change": "HOLD",
   "share_change_pct": 0,
   "quarters_held": 2
  },
  {
   "company": "Sunbelt Rentals Holdings",
   "ticker": "SUNB",
   "moatshark_slug": "sunb",
   "sector": "Industrials",
   "value_usd": 207523,
   "shares": 2774,
   "portfolio_pct": 0.02,
   "previous_pct": null,
   "change": "NEW",
   "share_change_pct": null,
   "quarters_held": 1
  },
  {
   "company": "Johnson & Johnson",
   "ticker": "JNJ",
   "moatshark_slug": "jnj",
   "sector": "Health care",
   "value_usd": 201652,
   "shares": 794,
   "portfolio_pct": 0.02,
   "previous_pct": null,
   "change": "NEW",
   "share_change_pct": null,
   "quarters_held": 1
  },
  {
   "company": "Flextronics International",
   "ticker": "FLEX",
   "moatshark_slug": "flex",
   "sector": "Technology",
   "value_usd": 0,
   "shares": 0,
   "portfolio_pct": 0,
   "previous_pct": 0.04,
   "change": "EXIT",
   "share_change_pct": null,
   "quarters_held": 4
  }
 ]
}