In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 13, 2025), Aldebaran Capital, LLC reported 40 stock positions worth $105.5 million . Its top holding was Berkshire Hathaway Class B (BRK.B) at 21.6% of the portfolio, followed by Occidental Petroleum (OXY, 8.1% ) and Bunge Global (BG, 7.1% ). Compared with Q4 2024, it opened 5 new positions, sold out of 1, added to 6 and reduced 22. The biggest buy was Sirius XM (SIRI, shares +93% ) and the biggest sale Microsoft (MSFT, shares −16% ).
Location CARMEL, IN
CIK 0001448430
Portfolio Value $105.5M (Q1 2025) Holdings 40 stocks · $105.5M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q4 2024 BRK.B Berkshire Hathaway Inc. Class B 42,862 $22.8M Reduce -0.7% OXY Occidental Petroleum Corp. 172,853 $8.5M Add +2.0% BG Bunge Global SA 97,814 $7.5M Reduce -0.3% MSFT Microsoft Corp. 19,414 $7.3M Reduce -16.2% LLY Eli Lilly & Co. 7,783 $6.4M No change BAC Bank of America Corp. filed as BANK AMERICA CORP 138,938 $5.8M Reduce -1.4% IWS iShares Russell Mid-Cap Valu 40,045 $5.0M Reduce -0.9% SU Suncor Energy Inc. 122,559 $4.7M Reduce -2.0% CVX Chevron Corp. 28,250 $4.7M Reduce -1.1% CATO Cato Corp. Class A 1,059,429 $3.5M Reduce -1.5% BCI Abrdn Bloomberg All Commodit filed as ABRDN ETFS 152,421 $3.3M Reduce -1.0% JPM JPMorgan Chase & Co. 11,907 $2.9M No change FCX Freeport-McMoran Inc. 51,563 $2.0M Add +62.6% SIRI Sirius XM Holdings Inc. 83,285 $1.9M Add +93.2% ENB Enbridge Inc. 42,261 $1.9M Reduce -1.9% VZ Verizon Communications Inc. 40,166 $1.8M Reduce -1.2% RELL Richardson Elec Ltd. 144,385 $1.6M Reduce -1.8% BRK.A Berkshire Hathaway Inc. Class A 2 $1.6M No change ACRS Aclaris Therapeutics Inc. 1,007,958 $1.5M Reduce -0.9% PATK Patrick Industries Inc. 14,234 $1.2M Reduce -0.6% CENX Century Aluminum Company 61,295 $1.1M Reduce -1.1% HI Hillenbrand Inc. 38,056 $919K Reduce -1.1% AMLX Amylyx Pharmaceuticals Inc. 259,253 $918K Reduce -1.3% EPIX Essa Pharma Inc. 569,294 $899K Add +43.2% TECX Tectonic Therapeutic Inc. 40,896 $724K Reduce -0.8% PMVP PMV Pharmaceuticals Inc. 523,553 $571K Add +4.3% ANTX AN2 Therapeutics Inc. 406,623 $553K Add +18.3% IESC Ies Holdings Inc. filed as IES HLDGS INC 3,294 $544K Reduce -20.0% TECK Teck Resources Ltd.-CLS B 12,961 $472K Reduce -0.9% Duke Energy Corp New 3,600 $439K No change MBIN Merchants Bancorp 10,125 $375K No change IKENA ONCOLOGY INC 247,795 $317K New BCIM Abrdn Bloomberg Industrial M filed as ABRDN ETFS 12,897 $280K New GE General Electric Company 1,256 $251K No change F Ford Motor Co. filed as FORD MTR CO 23,150 $232K Reduce -9.8% XOM Exxon Mobil Corp. 1,842 $219K New PG The Procter & Gamble Co. 1,260 $215K No change OKUR Onkure Therapeutics Inc. Class A 45,048 $194K Reduce -1.1% AVIR Atea Pharmaceuticals Inc. 37,500 $112K New THIRD HARMONIC BIO INC 23,000 $80K New
Other holdings (1): bonds, preferreds, convertibles and warrants · $219K (not counted above) Security Class Shares / Principal Value Change OXY.WS Occidental Petroleum-CW27 *W EXP 08/03/202 7,907 $219K Reduce -0.9%
Total filed on the 13F, all lines: $105.7M.
Portfolio Sells Q4 2024 → Q1 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2024 % Of Portfolio Change To Portfolio ▲ MSFT Microsoft Corp. Reduce -16.2% 6.91% −2.40 TECX Tectonic Therapeutic Inc. Reduce -0.8% 0.69% −1.13 ACRS Aclaris Therapeutics Inc. Reduce -0.9% 1.46% −0.94 CATO Cato Corp. Class A Reduce -1.5% 3.34% −0.65 RELL Richardson Elec Ltd. Reduce -1.8% 1.53% −0.44 B Barrick Gold Corp. Sold out 0.00% −0.41 BAC Bank of America Corp. Reduce -1.4% 5.49% −0.41 IESC Ies Holdings Inc. Reduce -20.0% 0.52% −0.27 HI Hillenbrand Inc. Reduce -1.1% 0.87% −0.26 IWS iShares Russell Mid-Cap Valu Reduce -0.9% 4.78% −0.20 OKUR Onkure Therapeutics Inc. Class A Reduce -1.1% 0.18% −0.19 BG Bunge Global SA Reduce -0.3% 7.08% −0.18 AMLX Amylyx Pharmaceuticals Inc. Reduce -1.3% 0.87% −0.08 TECK Teck Resources Ltd.-CLS B Reduce -0.9% 0.45% −0.06 F Ford Motor Co. Reduce -9.8% 0.22% −0.02 CENX Century Aluminum Company Reduce -1.1% 1.08% +0.00 PATK Patrick Industries Inc. Reduce -0.6% 1.14% +0.01 ENB Enbridge Inc. Reduce -1.9% 1.77% +0.03 VZ Verizon Communications Inc. Reduce -1.2% 1.73% +0.18 BCI Abrdn Bloomberg All Commodit Reduce -1.0% 3.10% +0.20 SU Suncor Energy Inc. Reduce -2.0% 4.50% +0.25 CVX Chevron Corp. Reduce -1.1% 4.48% +0.54 BRK.B Berkshire Hathaway Inc. Class B Reduce -0.7% 21.63% +3.00
Portfolio Buys Q4 2024 → Q1 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2024 % Of Portfolio Change To Portfolio ▼ SIRI Sirius XM Holdings Inc. Add +93.2% 1.78% +0.84 FCX Freeport-McMoran Inc. Add +62.6% 1.85% +0.70 IKENA ONCOLOGY INC New 0.30% +0.30 BCIM Abrdn Bloomberg Industrial M New 0.27% +0.27 XOM Exxon Mobil Corp. New 0.21% +0.21 EPIX Essa Pharma Inc. Add +43.2% 0.85% +0.17 OXY Occidental Petroleum Corp. Add +2.0% 8.09% +0.12 AVIR Atea Pharmaceuticals Inc. New 0.11% +0.11 THIRD HARMONIC BIO INC New 0.08% +0.08 ANTX AN2 Therapeutics Inc. Add +18.3% 0.52% +0.07 PMVP PMV Pharmaceuticals Inc. Add +4.3% 0.54% −0.18
Notes & Other Activity Q4 2024 → Q1 2025 Security Class Change vs Q4 2024 Shares / Principal Value ▼ OXY.WS Occidental Petroleum-CW27 *W EXP 08/03/202 Reduce -0.9% 7,907 $219K
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 39 $133.1M BRK.B, LLY, MSFT, BG, IWS Q1 2026 42 $130.5M BRK.B, OXY, BG, LLY, MSFT Q4 2025 35 $111.5M BRK.B, LLY, MSFT, BG, OXY Q3 2025 33 $108.9M BRK.B, MSFT, OXY, BG, LLY Q2 2025 34 $101.3M BRK.B, MSFT, BG, OXY, LLY Q1 2025 40 $105.5M BRK.B, OXY, BG, MSFT, LLY Q4 2024 36 $105.0M BRK.B, MSFT, OXY, BG, BAC Q3 2024 36 $109.3M BRK.B, MSFT, BG, OXY, LLY Q2 2024 35 $107.1M BRK.B, OXY, BG, MSFT, LLY Q1 2024 32 $104.7M BRK.B, OXY, BG, MSFT, LLY