Founded in 1998 by Christopher P. Bloomstran, CFA, Semper Augustus manages $693 million in discretionary assets for high net worth individuals, charitable organizations, pension plans, and corporations. The firm operates both separately managed accounts and a hedge fund partnership, maintaining concentrated value-oriented portfolios with significant holdings in Berkshire Hathaway, Dollar General, and precious metals mining companies. The investment team combines three decades of experience with deep fundamental analysis and long-term conviction investing.

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Semper Augustus employs a disciplined value-driven investment philosophy focused on concentrated equity portfolios of financially strong and well-managed companies whose share prices trade below conservative intrinsic value estimates. The firm's investment process is anchored by a dual margin of safety approach that emphasizes both business quality and price discipline, seeking companies that generate free cash returns exceeding their realistic cost of capital. Risk is defined as permanent loss of capital rather than volatility, with portfolios generally containing fewer than 30 holdings concentrated in high-quality businesses with significant discounts to appraised value.

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