Christopher Bloomstran
Semper Augustus
2026Q1 brief
Christopher Bloomstran's Semper Augustus ($840M, 44 positions) made its most decisive move in ALK (Alaska Air), which surged to 7.4% of the portfolio on a +314% add — a bold contrarian bet on a beaten-down airline at a time most super-investors avoid the sector. The headline trim pattern is notable: Bloomstran cut DG (-30%), NEM (-28%), KGC (-29%), and FIVE (-27%) in near-synchronized fashion, suggesting a deliberate rotation out of defensive value plays — discounters and gold miners — that had likely appreciated or whose theses evolved. Energy exposure was also pruned sharply, with VLO cut 78% and EQNR down 71%, and OVV exited entirely. New positions include BLDR (2.2%), a homebuilder-adjacent play, plus token stakes in GOOG, MA, PM, and NFLX — possibly early-stage research positions. Combined Berkshire exposure (BRK/B + BRK/A) remains his largest conviction at ~24.4%. Watch whether the ALK bet continues to build and whether the gold-miner trimming extends to a full exit of KGC.
AI-generated. Not investment advice.
Holdings (44) · click any column to sort
| #↑ | Ticker | Issuer | % Port. | This Q | History | Value |
|---|---|---|---|---|---|---|
| 1 | BRK/B | 14.5% | $121M | |||
| 2 | BRK/A | 9.9% | $83M | |||
| 3 | DG | 9.2% | $77M | |||
| 4 | DECK | 7.9% | $66M | |||
| 5 | ALK | 7.4% | $62M | |||
| 6 | OLN | 7.2% | $60M | |||
| 7 | DLTR | 6.7% | $56M | |||
| 8 | NEM | 6.2% | $52M | |||
| 9 | KGC | 5.5% | $46M | |||
| 10 | FIVE | 5.3% | $44M | |||
| 11 | SBUX | 2.7% | $23M | |||
| 12 | DINO | 2.7% | $23M | |||
| 13 | CMI | 2.5% | $21M | |||
| 14 | BLDR | 2.2% | $19M | |||
| 15 | DIS | 1.8% | $15M | |||
| 16 | VLO | 1.3% | $11M | |||
| 17 | XOM | 1.2% | $10M | |||
| 18 | EQNR | 0.9% | $7M | |||
| 19 | PSKY | 0.7% | $6M | |||
| 20 | TRV | 0.7% | $6M | |||
| 21 | MRK | 0.6% | $5M | |||
| 22 | COST | 0.4% | $3M | |||
| 23 | GE | 0.3% | $3M | |||
| 24 | NXPI | 0.3% | $3M | |||
| 25 | GLDM | 0.3% | $2M | |||
| 26 | GEV | 0.2% | $2M | |||
| 27 | SMHI | 0.2% | $1M | |||
| 28 | CVX | 0.1% | $1M | |||
| 29 | KO | 0.1% | $1M | |||
| 30 | AAPL | 0.1% | $1M | |||
| 31 | AXP | 0.1% | $1M | |||
| 32 | SGOV | 0.1% | $998K | |||
| 33 | PHYS | 0.1% | $846K | |||
| 34 | GOOG | 0.1% | $698K | |||
| 35 | SHEL | 0.1% | $462K | |||
| 36 | MA | <0.1% | $329K | |||
| 37 | GEHC | <0.1% | $326K | |||
| 38 | SIVR | <0.1% | $304K | |||
| 39 | SYF | <0.1% | $302K | |||
| 40 | Y2573F102 | <0.1% | $294K | |||
| 41 | PM | <0.1% | $291K | |||
| 42 | NFLX | <0.1% | $287K | |||
| 43 | PSX | <0.1% | $268K | |||
| 44 | GOOGL | <0.1% | $201K |
- 1BRK/B14.5%$121MBerkshire Hathaway Inc-cl Bthis Q hold·40q
- 2BRK/A9.9%$83MBerkshire Hathaway Inc-cl Athis Q hold·40q
- 3DG9.2%$77MDollar General Corpthis Q -30%·37q
- 4DECK7.9%$66MDeckers Outdoor Corpthis Q hold·4q
- 5ALK7.4%$62MAlaska Air Group Incthis Q +314%·25q
- 6OLN7.2%$60MOlin Corpthis Q hold·27q
- 7DLTR6.7%$56MDollar Tree Incthis Q hold·19q
- 8NEM6.2%$52MNewmont Corpthis Q -28%·40q
- 9KGC5.5%$46MKinross Gold Corpthis Q -29%·40q
- 10FIVE5.3%$44MFive Belowthis Q -27%·8q
- 11SBUX2.7%$23MStarbucks Corpthis Q hold·32q
- 12DINO2.7%$23MHF Sinclair Corpthis Q hold·17q
- 13CMI2.5%$21MCummins Incthis Q hold·31q
- 14BLDR2.2%$19MBuilders Firstsource Incthis Q New·—1q
- 15DIS1.8%$15MWalt Disney Co/thethis Q hold·32q
- 16VLO1.3%$11MValero Energy Corpthis Q -78%·22q
- 17XOM1.2%$10MExxon Mobil Corpthis Q hold·40q
- 18EQNR0.9%$7MEquinor Asa-spon Adrthis Q -71%·32q
- 19PSKY0.7%$6MParamount Skydance CL Bthis Q hold·3q
- 20TRV0.7%$6MTravelers Cos Inc/thethis Q hold·40q
- 21MRK0.6%$5MMerck & Co. Inc.this Q hold·40q
- 22COST0.4%$3MCostco Wholesale Corpthis Q hold·40q
- 23GE0.3%$3MGeneral Electricthis Q hold·19q
- 24NXPI0.3%$3MNxp Semiconductors N Vthis Q hold·31q
- 25GLDM0.3%$2MSpdr Gold Minishares Trustthis Q hold·7q
- 26GEV0.2%$2MGE Vernova Incthis Q hold·8q
- 27SMHI0.2%$1MSeacor Marine Holdings Incthis Q hold·36q
- 28CVX0.1%$1MChevron Corpthis Q hold·21q
- 29KO0.1%$1MCoca-cola Co/thethis Q hold·40q
- 30AAPL0.1%$1MApple Incthis Q hold·15q
- 31AXP0.1%$1MAmerican Express COthis Q hold·40q
- 32SGOV0.1%$998KIshares 0-3 Month Treasury Bthis Q +180%·5q
- 33PHYS0.1%$846KSprott Physical Gold Trustthis Q hold·8q
- 34GOOG0.1%$698KAlphabet Inc-cl Cthis Q New·—1q
- 35SHEL0.1%$462KShell Plc-adrthis Q hold·17q
- 36MA<0.1%$329KMastercard Inc - Athis Q New·—1q
- 37GEHC<0.1%$326KGE Healthcare Technologythis Q hold·13q
- 38SIVR<0.1%$304KAbrdn Physical Silver Sharesthis Q hold·2q
- 39SYF<0.1%$302KSynchrony Financialthis Q hold·13q
- 40Y2573F102<0.1%$294KFlextronics Intl Ltdthis Q hold·4q
- 41PM<0.1%$291KPhilip Morris Internationalthis Q New·—1q
- 42NFLX<0.1%$287KNetflix Incthis Q New·—1q
- 43PSX<0.1%$268KPhillips 66this Q New·4q
- 44GOOGL<0.1%$201KAlphabet Inc-cl Athis Q hold·3q
All activity (2026Q1)
| Ticker | Issuer | Move | % Port. | Δ Shares | Value |
|---|---|---|---|---|---|
| DG | Dollar General Corp | TRIM | 9.2% | -30% | $77M |
| NEM | Newmont Corp | TRIM | 6.2% | -28% | $52M |
| ALK | Alaska Air Group Inc | ADD | 7.4% | +314% | $62M |
| KGC | Kinross Gold Corp | TRIM | 5.5% | -29% | $46M |
| FIVE | Five Below | TRIM | 5.3% | -27% | $44M |
| VLO | Valero Energy Corp | TRIM | 1.3% | -78% | $11M |
| BLDR | Builders Firstsource Inc | NEW | 2.2% | +100% | $19M |
| EQNR | Equinor Asa-spon Adr | TRIM | 0.9% | -71% | $7M |
| SGOV | Ishares 0-3 Month Treasury B | ADD | 0.1% | +180% | $998K |
| GOOG | Alphabet Inc-cl C | NEW | 0.1% | +100% | $698K |
| OVV | Ovintiv Inc | EXIT | 0.1% | -100% | $0 |
| MA | Mastercard Inc - A | NEW | <0.1% | +100% | $329K |
| PM | Philip Morris International | NEW | <0.1% | +100% | $291K |
| NFLX | Netflix Inc | NEW | <0.1% | +100% | $287K |
| PSX | Phillips 66 | NEW | <0.1% | +100% | $268K |
- TRIMDG9.2%Dollar General CorpΔ -30%·$77M
- TRIMNEM6.2%Newmont CorpΔ -28%·$52M
- ADDALK7.4%Alaska Air Group IncΔ +314%·$62M
- TRIMKGC5.5%Kinross Gold CorpΔ -29%·$46M
- TRIMFIVE5.3%Five BelowΔ -27%·$44M
- TRIMVLO1.3%Valero Energy CorpΔ -78%·$11M
- NEWBLDR2.2%Builders Firstsource IncΔ +100%·$19M
- TRIMEQNR0.9%Equinor Asa-spon AdrΔ -71%·$7M
- ADDSGOV0.1%Ishares 0-3 Month Treasury BΔ +180%·$998K
- NEWGOOG0.1%Alphabet Inc-cl CΔ +100%·$698K
- EXITOVV0.1%Ovintiv IncΔ -100%·$0
- NEWMA<0.1%Mastercard Inc - AΔ +100%·$329K
- NEWPM<0.1%Philip Morris InternationalΔ +100%·$291K
- NEWNFLX<0.1%Netflix IncΔ +100%·$287K
- NEWPSX<0.1%Phillips 66Δ +100%·$268K
Long US equity 13F-HR filings only — no shorts, no derivatives. SEC filings at EDGAR (CIK 0001115373). Not investment advice.