Elgethun Capital Management

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 14, 2024), Elgethun Capital Management reported 154 stock positions worth $396.4 million. Its top holding was Berkshire Hathaway Class B (BRK.B) at 13.0% of the portfolio, followed by Fairfax Financial (FRFHF, 7.9%) and Eli Lilly (LLY, 4.5%). Compared with Q4 2023, it opened 3 new positions, sold out of 1, added to 70 and reduced 33. The biggest buy was Eli Lilly (LLY, shares +97%) and the biggest sale Bancorp (TBBK, shares −1%).

Most Recent 13F
Q2 2026
Location
SIOUX FALLS, SD
CIK
0001638022
Portfolio Value
$396.4M (Q1 2024)
SEC Filing
0001420506-24-000810 ↗ filed May 14, 2024

Holdings Value

0$200.0M$400.0M$600.0M$800.0M Q1 2024: $396.4M $396.4M Q1 2024 Q2 2024: $396.6M Q2 2024 Q3 2024: $425.9M Q3 2024 Q4 2024: $412.0M Q4 2024 Q1 2025: $447.6M Q1 2025 Q2 2025: $497.0M Q2 2025 Q3 2025: $550.6M Q3 2025 Q4 2025: $578.7M Q4 2025 Q1 2026: $604.2M Q1 2026 Q2 2026: $717.6M Q2 2026

Holdings 154 stocks · $396.4M
BRK.B Berkshire Hathaway Inc. Class B 13.03% 122,867 $51.7M Add +0.7%
FRFHF Fairfax Financial Hldgs Ltd. 7.91% 28,940 $31.4M Reduce -0.8%
LLY Eli Lilly & Co. 4.50% 23,541 $17.9M Add +97.5%
IEMG iShares Core MSCI Emerging 4.21% 321,091 $16.7M Add +1.1%
SCHB Schwab US Broad Market ETF 3.79% 246,006 $15.0M Add +1.7%
EFV iShares MSCI Eafe Value ETF 3.57% 261,086 $14.1M Add +1.9%
MSFT Microsoft Corp. 2.60% 24,261 $10.3M Add +1.2%
SCHW Schwab (charles) Corp. 2.60% 141,989 $10.3M Reduce -0.1%
CASH Pathward Financial Inc. 2.42% 190,066 $9.6M Reduce -0.5%
CWGL Crimson Wine Group Ltd. 2.08% 1,418,187 $8.3M Add +3.6%
FWONA Liberty Media Corp. Class A 1.98% 133,599 $7.8M Reduce -0.6%
LSXMK Liberty Media Corp.-Liber-New 1.93% 257,368 $7.7M Reduce -0.4%
AMLP Alerian MLP ETF 1.91% 159,631 $7.6M Reduce -0.7%
NVR NVR Inc. 1.91% 930 $7.6M Reduce -0.2%
LBTYK Liberty Global Ltd. Class C 1.90% 434,972 $7.5M Add +57.7%
FNDE Schwab Fndmntl Em MRK Eq ETF 1.89% 268,711 $7.5M Add +0.3%
TBBK The Bancorp Inc. 1.85% 222,761 $7.3M Reduce -0.7%
BOC Boston Omaha Corp. Class A 1.73% 444,816 $6.9M Add +40.3%
VDE Vanguard Energy ETF 1.52% 45,805 $6.0M Add +0.0%
STLA Stellantis NV 1.48% 206,234 $5.9M Reduce -2.3%
SCHF Schwab Intl Equity ETF 1.40% 142,811 $5.6M Add +11.5%
INTC Intel Corp. 1.37% 119,974 $5.4M Reduce -0.2%
WFC Wells Fargo & Co. 1.34% 91,640 $5.3M Reduce -0.2%
KMX Carmax Inc. 1.29% 59,457 $5.1M Add +1.3%
BATRK Atlanta Braves Holdings in-C 1.16% 117,347 $4.6M Reduce -3.2%
KR Kroger Co. 1.10% 76,730 $4.4M Reduce -0.3%
C Citigroup Inc. 1.09% 67,867 $4.3M Add +13.7%
AXP American Express Co. 1.04% 18,143 $4.1M Add +1.4%
DFH Dream Finders Homes Inc. Class A 1.01% 92,628 $4.0M Reduce -4.3%
ACI Albertsons Cos Inc. Class A 1.01% 187,747 $4.0M Reduce -0.2%
SBUX Starbucks Corp. 1.00% 43,074 $3.9M Add +2.6%
UNH Unitedhealth Group Inc. 0.95% 7,631 $3.8M Reduce -2.5%
JNJ Johnson & Johnson 0.89% 22,387 $3.5M Add +12.5%
BUD Anheuser-Busch Inbev-SPN ADR 0.87% 56,931 $3.5M Add +2.6%
AMZN Amazon.com Inc. 0.80% 17,605 $3.2M No change
CVS CVS Health Corp. 0.76% 38,017 $3.0M Reduce -0.5%
FFXDF Fairfax India Ho-Sub VTG SHS 0.75% 202,334 $3.0M Add +0.8%
IWR iShares Russell Mid-Cap ETF 0.75% 35,550 $3.0M Add +0.0%
AAPL Apple Inc. 0.70% 16,349 $2.8M Reduce -0.3%
EPD Enterprise Products Partners 0.70% 94,547 $2.8M Add +5.8%
SCHX Schwab US Large-Cap ETF 0.64% 40,954 $2.5M Reduce -1.7%
WBD Warner Bros Discovery Inc. 0.63% 284,388 $2.5M Reduce -0.3%
VBR Vngrd Mrngst SL-CP Val ETF-U 0.58% 11,994 $2.3M Add +17.1%
OPFI Oppfi Inc. 0.43% 678,393 $1.7M Reduce -1.8%
KVUE Kenvue Inc. 0.41% 76,879 $1.6M Reduce -1.1%
MRK Merck & Co. Inc. 0.40% 12,210 $1.6M Add +74.8%
SCHV Schwab US Large-Cap Value 0.38% 19,687 $1.5M Add +2.2%
WRB WR Berkley Corp. filed as BERKLEY W R CORP 0.36% 16,038 $1.4M Add +0.0%
WMT Walmart Inc. 0.35% 22,945 $1.4M Add +14.7%
GOOG Alphabet Inc. Class C 0.33% 8,420 $1.3M Reduce -0.5%
ABBV Abbvie Inc. 0.33% 7,245 $1.3M Add +0.3%
BWB Bridgewater Bancshares Inc. 0.32% 110,735 $1.3M Reduce -3.2%
V Visa Inc. Class A 0.32% 4,487 $1.2M No change
GOOGL Alphabet Inc. Class A 0.31% 7,811 $1.2M No change
PEP Pepsico Inc. 0.30% 6,914 $1.2M Add +0.4%
HD Home Depot Inc. 0.29% 2,999 $1.1M No change
VWO Vanguard Ftse Emerging Marke 0.27% 25,822 $1.1M Reduce -10.7%
XOM Exxon Mobil Corp. 0.24% 8,353 $968K Add +17.3%
CVX Chevron Corp. 0.24% 6,116 $965K Add +0.6%
MCD McDonald's Corp. 0.24% 3,404 $953K Add +0.5%
JPM JPMorgan Chase & Co. 0.22% 4,453 $889K Add +0.0%
IWM iShares Russell 2000 ETF 0.22% 4,126 $865K Reduce -1.5%
MPC Marathon Petroleum Corp. 0.20% 4,000 $809K No change
NOW ServiceNow Inc. 0.19% 1,000 $765K No change
GLD SPDR Gold Shares 0.18% 3,531 $732K New
EFA iShares MSCI Eafe ETF 0.18% 9,137 $729K No change
MMM 3M Co. 0.17% 7,582 $678K Add +0.8%
GEF.B Greif Inc. Class B 0.16% 9,330 $645K Add +0.9%
IWO iShares Russell 2000 Growth 0.16% 2,374 $642K No change
TSM Taiwan Semiconductor-SP ADR 0.16% 4,519 $641K No change
KO The Coca-Cola Co. 0.16% 10,485 $638K Add +7.3%
BP BP PLC-Spons ADR 0.16% 16,936 $637K Add +8.0%
DHR Danaher Corp. 0.15% 2,431 $603K No change
PG The Procter & Gamble Co. 0.15% 3,690 $592K Add +0.4%
MKL Markel Group Inc. 0.14% 378 $574K No change
SLV iShares Silver Trust 0.14% 24,441 $557K New
XLF SS Financial Select Sector 0.14% 13,179 $554K Reduce -1.7%
BKNG Booking Holdings Inc. 0.14% 150 $543K No change
INTU Intuit Inc. 0.13% 806 $524K No change
ACN Accenture PLC Class A 0.13% 1,512 $518K No change
AVGO Broadcom Inc. 0.13% 375 $510K No change
SPGI S&P Global Inc. 0.12% 1,083 $464K No change
WERN Werner Enterprises Inc. 0.12% 11,826 $458K Add +0.4%
CSX CSX Corp. 0.11% 12,310 $454K No change
HON Honeywell International Inc. 0.11% 2,212 $449K Add +0.1%
URI United Rentals Inc. 0.11% 608 $435K No change
UPS United Parcel Service Class B 0.11% 2,895 $428K Reduce -2.7%
IVV iShares Core S&P 500 ETF 0.11% 797 $420K Reduce -0.1%
CRM Salesforce Inc. 0.10% 1,339 $405K No change
MNST Monster Beverage Corp. 0.10% 6,660 $393K No change
IEFA iShares Core MSCI Eafe ETF 0.10% 5,213 $386K No change
PM Philip Morris International 0.10% 4,216 $385K Add +38.3%
MA Mastercard Inc. Class A 0.09% 756 $363K Add +0.1%
SPY SS SPDR S&P 500 ETF Trust-US 0.09% 690 $362K Add +0.1%
GRBK Green Brick Partners Inc. 0.09% 5,800 $351K No change
IVLU iShares MSCI International V 0.09% 12,472 $350K No change
CAT Caterpillar Inc. 0.09% 938 $344K Add +0.2%
NVDA Nvidia Corp. 0.09% 373 $342K Reduce -65.4%
UNP Union Pacific Corp. 0.08% 1,310 $320K Add +0.4%
SYY Sysco Corp. 0.08% 3,864 $313K Add +0.7%
ITW Illinois Tool Works 0.08% 1,152 $309K Add +0.1%
ICE Intercontinental Exchange Inc. 0.08% 2,184 $300K No change
ABT Abbott Laboratories 0.08% 2,644 $298K Add +0.2%
CB Chubb Ltd. 0.07% 1,119 $289K No change
FNDF Schwab Fndmn Intl LRG Co. ETF 0.07% 8,104 $288K Add +2.3%
DHI D.R. Horton Inc. 0.07% 1,717 $283K No change
MDU Mdu Resources Group Inc. 0.07% 10,749 $272K Add +0.4%
COST Costco Wholesale Corp. 0.07% 364 $266K No change
MDLZ Mondelez International Inc. Class A 0.07% 3,759 $261K Add +31.4%
LPLA LPL Financial Holdings Inc. 0.06% 958 $255K No change
LOW Lowe's Cos Inc. 0.06% 1,003 $253K No change
LMT Lockheed Martin Corp. 0.06% 547 $248K Add +0.7%
DEM Wisdomtree Emerging Markets 0.06% 5,874 $246K Add +0.1%
AMT American Tower Corp. 0.06% 1,255 $245K Add +0.1%
ETN Eaton Corp. PLC 0.06% 725 $227K No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.06% 1,192 $227K Add +0.8%
RTX RTX Corp. 0.06% 2,241 $219K Add +2.4%
GM General Motors Co. 0.05% 4,772 $217K No change
AMAT Applied Materials Inc. 0.05% 1,017 $215K No change
SHEL Shell PLC-ADR 0.05% 3,183 $213K New
NOC Northrop Grumman Corp. 0.05% 441 $209K Add +0.5%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.05% 5,530 $208K Add +0.1%
INN Summit Hotel Properties Inc. 0.05% 32,063 $207K Add +0.8%
NEE Nextera Energy Inc. 0.05% 3,137 $199K No change
TGT Target Corp. 0.05% 1,097 $198K Add +0.2%
ITB iShares U.S. Home Constructi 0.05% 1,644 $190K No change
VTS Vitesse Energy Inc. 0.05% 7,976 $188K Reduce -1.4%
KNF Knife River Corp. 0.05% 2,307 $186K No change
AMD Advanced Micro Devices 0.05% 981 $182K No change
CASY Casey's General Stores Inc. 0.04% 539 $171K No change
SCHA Schwab US Small-Cap ETF 0.04% 3,468 $170K Add +2.8%
FL Foot Locker Inc. 0.04% 5,808 $168K No change
QCOM Qualcomm Inc. 0.04% 923 $159K No change
IJH iShares Core S&P Midcap ETF 0.04% 2,594 $157K Add +0.1%
EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC 0.04% 1,013 $155K No change
CEF Sprott Physical Gold and Sil 0.04% 7,480 $153K No change
TXN Texas Instruments Inc. 0.04% 835 $147K Add +0.6%
PFE Pfizer Inc. 0.04% 5,247 $145K Reduce -15.6%
BA The Boeing Co. 0.04% 759 $145K Reduce -0.5%
IJR iShares Core S&P Small-Cap E 0.04% 1,311 $144K Add +0.2%
VOO Vanguard S&P 500 ETF 0.03% 286 $138K Add +1.8%
AFL Aflac Inc. 0.03% 1,606 $137K Add +0.3%
XEL Xcel Energy Inc. 0.03% 2,546 $135K Add +27.1%
DEO Diageo PLC-Sponsored ADR 0.03% 911 $135K No change
HSY The Hershey Co. 0.03% 681 $133K Add +29.5%
NEM Newmont Corp. 0.03% 3,524 $128K Add +0.7%
ARWR Arrowhead Pharmaceuticals Inc. 0.03% 4,000 $111K No change
ORCL Oracle Corp. 0.03% 877 $111K Add +0.2%
ECL Ecolab Inc. 0.03% 473 $108K No change
NKE Nike Inc. Class B 0.03% 1,087 $100K No change
VNQ Vanguard Real Estate ETF 0.02% 964 $83K Add +0.3%
LCTX Lineage Cell Therapeutics Inc. 0.01% 15,000 $22K No change
NGD New Gold Inc. 0.01% 12,000 $21K No change
BENSON HILL INC 0.00% 16,011 $3K No change
Other holdings (2): bonds, preferreds, convertibles and warrants · $101K (not counted above)
SecurityClassShares / PrincipalValueChange
SKYH.WS Yellowstone Acquisit A -CW25 *W EXP 01/25/202 51,380$90KNo change
OPFI.WS Oppfi Inc. -CW26 *W EXP 07/20/202 134,700$11KNo change

Total filed on the 13F, all lines: $396.5M.

Portfolio Sells Q4 2023 → Q1 2024
TBBK The Bancorp Inc. Reduce -0.7% 1.85% −0.60
OPFI Oppfi Inc. Reduce -1.8% 0.43% −0.57
CASH Pathward Financial Inc. Reduce -0.5% 2.42% −0.45
INTC Intel Corp. Reduce -0.2% 1.37% −0.34
WBD Warner Bros Discovery Inc. Reduce -0.3% 0.63% −0.29
FWONA Liberty Media Corp. Class A Reduce -0.6% 1.98% −0.23
UNH Unitedhealth Group Inc. Reduce -2.5% 0.95% −0.22
ACI Albertsons Cos Inc. Class A Reduce -0.2% 1.01% −0.22
BATRK Atlanta Braves Holdings in-C Reduce -3.2% 1.16% −0.20
AAPL Apple Inc. Reduce -0.3% 0.70% −0.19
LSXMK Liberty Media Corp.-Liber-New Reduce -0.4% 1.93% −0.17
SCHW Schwab (charles) Corp. Reduce -0.1% 2.60% −0.17
BWB Bridgewater Bancshares Inc. Reduce -3.2% 0.32% −0.12
CVS CVS Health Corp. Reduce -0.5% 0.76% −0.09
NVDA Nvidia Corp. Reduce -65.4% 0.09% −0.07
VWO Vanguard Ftse Emerging Marke Reduce -10.7% 0.27% −0.06
KVUE Kenvue Inc. Reduce -1.1% 0.41% −0.06
UPS United Parcel Service Class B Reduce -2.7% 0.11% −0.02
AMLP Alerian MLP ETF Reduce -0.7% 1.91% −0.02
SCHX Schwab US Large-Cap ETF Reduce -1.7% 0.64% −0.02
IWM iShares Russell 2000 ETF Reduce -1.5% 0.22% −0.02
BA The Boeing Co. Reduce -0.5% 0.04% −0.02
PFE Pfizer Inc. Reduce -15.6% 0.04% −0.01
GOOG Alphabet Inc. Class C Reduce -0.5% 0.33% −0.01
XLF SS Financial Select Sector Reduce -1.7% 0.14% −0.00
VTS Vitesse Energy Inc. Reduce -1.4% 0.05% −0.00
IVV iShares Core S&P 500 ETF Reduce -0.1% 0.11% −0.00
SABS Sab Biotherapeutics Inc. Sold out 0.00% −0.00
DFH Dream Finders Homes Inc. Class A Reduce -4.3% 1.01% +0.03
WFC Wells Fargo & Co. Reduce -0.2% 1.34% +0.06
NVR NVR Inc. Reduce -0.2% 1.91% +0.06
STLA Stellantis NV Reduce -2.3% 1.48% +0.08
KR Kroger Co. Reduce -0.3% 1.10% +0.11
FRFHF Fairfax Financial Hldgs Ltd. Reduce -0.8% 7.91% +0.29

Portfolio Buys Q4 2023 → Q1 2024
LLY Eli Lilly & Co. Add +97.5% 4.50% +2.53
BRK.B Berkshire Hathaway Inc. Class B Add +0.7% 13.03% +0.70
LBTYK Liberty Global Ltd. Class C Add +57.7% 1.90% +0.45
BOC Boston Omaha Corp. Class A Add +40.3% 1.73% +0.32
C Citigroup Inc. Add +13.7% 1.09% +0.22
MRK Merck & Co. Inc. Add +74.8% 0.40% +0.19
GLD SPDR Gold Shares New 0.18% +0.18
SLV iShares Silver Trust New 0.14% +0.14
AXP American Express Co. Add +1.4% 1.04% +0.09
SCHF Schwab Intl Equity ETF Add +11.5% 1.40% +0.06
VBR Vngrd Mrngst SL-CP Val ETF-U Add +17.1% 0.58% +0.06
SHEL Shell PLC-ADR New 0.05% +0.05
WMT Walmart Inc. Add +14.7% 0.35% +0.05
MSFT Microsoft Corp. Add +1.2% 2.60% +0.04
XOM Exxon Mobil Corp. Add +17.3% 0.24% +0.04
WRB WR Berkley Corp. Add +0.0% 0.36% +0.04
EPD Enterprise Products Partners Add +5.8% 0.70% +0.03
PM Philip Morris International Add +38.3% 0.10% +0.02
KMX Carmax Inc. Add +1.3% 1.29% +0.01
ABBV Abbvie Inc. Add +0.3% 0.33% +0.01
JPM JPMorgan Chase & Co. Add +0.0% 0.22% +0.01
MDU Mdu Resources Group Inc. Add +0.4% 0.07% +0.01
CAT Caterpillar Inc. Add +0.2% 0.09% +0.01
MDLZ Mondelez International Inc. Class A Add +31.4% 0.07% +0.01
HSY The Hershey Co. Add +29.5% 0.03% +0.01
TGT Target Corp. Add +0.2% 0.05% +0.01
BP BP PLC-Spons ADR Add +8.0% 0.16% +0.00
RTX RTX Corp. Add +2.4% 0.06% +0.00
JNJ Johnson & Johnson Add +12.5% 0.89% +0.00
IBM Intl Business Machines Corp. Add +0.8% 0.06% +0.00
ORCL Oracle Corp. Add +0.2% 0.03% +0.00
MA Mastercard Inc. Class A Add +0.1% 0.09% +0.00
VOO Vanguard S&P 500 ETF Add +1.8% 0.03% 0.00
BAC Bank of America Corp. Add +0.1% 0.05% −0.00
SYY Sysco Corp. Add +0.7% 0.08% −0.00
IJH iShares Core S&P Midcap ETF Add +0.1% 0.04% −0.00
XEL Xcel Energy Inc. Add +27.1% 0.03% −0.00
VDE Vanguard Energy ETF Add +0.0% 1.52% −0.00
SPY SS SPDR S&P 500 ETF Trust-US Add +0.1% 0.09% −0.00
KO The Coca-Cola Co. Add +7.3% 0.16% −0.00
SCHA Schwab US Small-Cap ETF Add +2.8% 0.04% −0.00
AFL Aflac Inc. Add +0.3% 0.03% −0.00
VNQ Vanguard Real Estate ETF Add +0.3% 0.02% −0.00
TXN Texas Instruments Inc. Add +0.6% 0.04% −0.00
PG The Procter & Gamble Co. Add +0.4% 0.15% −0.00
FNDF Schwab Fndmn Intl LRG Co. ETF Add +2.3% 0.07% −0.00
IJR iShares Core S&P Small-Cap E Add +0.2% 0.04% −0.00
NOC Northrop Grumman Corp. Add +0.5% 0.05% −0.01
DEM Wisdomtree Emerging Markets Add +0.1% 0.06% −0.01
SCHV Schwab US Large-Cap Value Add +2.2% 0.38% −0.01

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 173$717.6MLLY, BRK.B, FRFHF, EFV, IEMG
Q1 2026 165$604.2MBRK.B, LLY, FRFHF, EFV, IEMG
Q4 2025 163$578.7MBRK.B, FRFHF, EFV, LLY, IEMG
Q3 2025 156$550.6MBRK.B, FRFHF, EFV, IEMG, LLY
Q2 2025 151$497.0MBRK.B, FRFHF, EFV, IEMG, LLY
Q1 2025 151$447.6MBRK.B, FRFHF, EFV, LLY, IEMG
Q4 2024 154$412.0MBRK.B, FRFHF, LLY, IEMG, SCHB
Q3 2024 152$425.9MBRK.B, FRFHF, LLY, IEMG, LBTYK
Q2 2024 152$396.6MBRK.B, FRFHF, LLY, IEMG, SCHB
Q1 2024 154$396.4MBRK.B, FRFHF, LLY, IEMG, SCHB