Elgethun Capital Management

In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 14, 2024), Elgethun Capital Management reported 152 stock positions worth $396.6 million. Its top holding was Berkshire Hathaway Class B (BRK.B) at 13.0% of the portfolio, followed by Fairfax Financial (FRFHF, 6.6%) and Eli Lilly (LLY, 5.6%). Compared with Q1 2024, it sold out of 2, added to 75 and reduced 37. The biggest buy was Liberty Global Class C (LBTYK, shares +72%) and the biggest sale Fairfax Financial (FRFHF, shares −21%).

Most Recent 13F
Q2 2026
Location
SIOUX FALLS, SD
CIK
0001638022
Portfolio Value
$396.6M (Q2 2024)
SEC Filing
0001420506-24-001425 ↗ filed Aug 14, 2024

Holdings Value

0$200.0M$400.0M$600.0M$800.0M Q1 2024: $396.4M Q1 2024 Q2 2024: $396.6M $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 152 stocks · $396.6M
BRK.B Berkshire Hathaway Inc. Class B 12.99% 126,650 $51.5M Add +3.1%
FRFHF Fairfax Financial Hldgs Ltd. 6.58% 22,942 $26.1M Reduce -20.7%
LLY Eli Lilly & Co. 5.62% 24,633 $22.3M Add +4.6%
IEMG iShares Core MSCI Emerging 4.25% 314,814 $16.9M Reduce -1.9%
SCHB Schwab US Broad Market ETF 3.83% 241,639 $15.2M Reduce -1.8%
EFV iShares MSCI Eafe Value ETF 3.68% 274,805 $14.6M Add +5.3%
LBTYK Liberty Global Ltd. Class C 3.36% 746,975 $13.3M Add +71.7%
CASH Pathward Financial Inc. 2.76% 193,747 $11.0M Add +1.9%
MSFT Microsoft Corp. 2.73% 24,191 $10.8M Reduce -0.3%
SCHW Schwab (charles) Corp. 2.66% 143,319 $10.6M Add +0.9%
FNDE Schwab Fndmntl Em MRK Eq ETF 2.28% 305,494 $9.0M Add +13.7%
FWONA Liberty Media Corp. Class A 2.22% 137,214 $8.8M Add +2.7%
CWGL Crimson Wine Group Ltd. 2.15% 1,428,628 $8.5M Add +0.7%
TBBK The Bancorp Inc. 2.14% 224,558 $8.5M Add +0.8%
AMLP Alerian MLP ETF 1.97% 162,503 $7.8M Add +1.8%
NVR NVR Inc. 1.77% 923 $7.0M Reduce -0.8%
SCHF Schwab Intl Equity ETF 1.64% 169,101 $6.5M Add +18.4%
LSXMK Liberty Media Corp.-Liber-New 1.52% 271,467 $6.0M Add +5.5%
BOC Boston Omaha Corp. Class A 1.49% 437,876 $5.9M Reduce -1.6%
VDE Vanguard Energy ETF 1.48% 46,063 $5.9M Add +0.6%
WFC Wells Fargo & Co. 1.35% 90,015 $5.3M Reduce -1.8%
BATRK Atlanta Braves Holdings in-C 1.20% 120,739 $4.8M Add +2.9%
C Citigroup Inc. 1.18% 73,467 $4.7M Add +8.3%
AXP American Express Co. 1.06% 18,218 $4.2M Add +0.4%
KMX Carmax Inc. 1.06% 57,159 $4.2M Reduce -3.9%
STLA Stellantis NV 1.03% 206,274 $4.1M Add +0.0%
KR Kroger Co. 0.97% 76,889 $3.8M Add +0.2%
INTC Intel Corp. 0.95% 122,254 $3.8M Add +1.9%
UNH Unitedhealth Group Inc. 0.93% 7,256 $3.7M Reduce -4.9%
SBUX Starbucks Corp. 0.88% 44,863 $3.5M Add +4.2%
ACI Albertsons Cos Inc. Class A 0.88% 176,298 $3.5M Reduce -6.1%
BUD Anheuser-Busch Inbev-SPN ADR 0.87% 59,579 $3.5M Add +4.7%
AMZN Amazon.com Inc. 0.86% 17,605 $3.4M No change
AAPL Apple Inc. 0.85% 16,050 $3.4M Reduce -1.8%
JNJ Johnson & Johnson 0.82% 22,324 $3.3M Reduce -0.3%
FFXDF Fairfax India Ho-Sub VTG SHS 0.78% 216,026 $3.1M Add +6.8%
IWR iShares Russell Mid-Cap ETF 0.73% 35,558 $2.9M Add +0.0%
VBR Vngrd Mrngst SL-CP Val ETF-U 0.71% 15,414 $2.8M Add +28.5%
EPD Enterprise Products Partners 0.70% 95,727 $2.8M Add +1.3%
SCHX Schwab US Large-Cap ETF 0.67% 41,264 $2.7M Add +0.8%
DFH Dream Finders Homes Inc. Class A 0.61% 92,971 $2.4M Add +0.4%
CVS CVS Health Corp. 0.56% 37,542 $2.2M Reduce -1.3%
OPFI Oppfi Inc. 0.53% 624,851 $2.1M Reduce -7.9%
WBD Warner Bros Discovery Inc. 0.51% 274,021 $2.0M Reduce -3.6%
WMT Walmart Inc. 0.39% 22,967 $1.6M Add +0.1%
GOOG Alphabet Inc. Class C 0.39% 8,422 $1.5M Add +0.0%
SCHV Schwab US Large-Cap Value 0.38% 20,514 $1.5M Add +4.2%
MRK Merck & Co. Inc. 0.38% 12,134 $1.5M Reduce -0.6%
GOOGL Alphabet Inc. Class A 0.36% 7,811 $1.4M No change
KVUE Kenvue Inc. 0.35% 75,750 $1.4M Reduce -1.5%
WRB WR Berkley Corp. filed as BERKLEY W R CORP 0.32% 16,040 $1.3M Add +0.0%
ABBV Abbvie Inc. 0.31% 7,092 $1.2M Reduce -2.1%
BWB Bridgewater Bancshares Inc. 0.31% 104,709 $1.2M Reduce -5.4%
PEP Pepsico Inc. 0.29% 6,977 $1.2M Add +0.9%
VWO Vanguard Ftse Emerging Marke 0.29% 25,877 $1.1M Add +0.2%
V Visa Inc. Class A 0.26% 3,989 $1.0M Reduce -11.1%
CVX Chevron Corp. 0.24% 6,151 $962K Add +0.6%
XOM Exxon Mobil Corp. 0.24% 8,326 $958K Reduce -0.3%
HD Home Depot Inc. 0.24% 2,750 $947K Reduce -8.3%
JPM JPMorgan Chase & Co. 0.23% 4,455 $901K Add +0.0%
MCD McDonald's Corp. 0.22% 3,370 $859K Reduce -1.0%
IWM iShares Russell 2000 ETF 0.21% 4,127 $837K Add +0.0%
NOW ServiceNow Inc. 0.20% 1,000 $787K No change
TSM Taiwan Semiconductor-SP ADR 0.20% 4,520 $786K Add +0.0%
MMM 3M Co. 0.19% 7,352 $751K Reduce -3.0%
EFA iShares MSCI Eafe ETF 0.18% 9,137 $716K No change
MPC Marathon Petroleum Corp. 0.17% 4,000 $694K No change
KO The Coca-Cola Co. 0.17% 10,499 $668K Add +0.1%
IWO iShares Russell 2000 Growth 0.16% 2,375 $623K Add +0.0%
DHR Danaher Corp. 0.15% 2,431 $607K No change
PG The Procter & Gamble Co. 0.15% 3,680 $607K Reduce -0.3%
BP BP PLC-Spons ADR 0.15% 16,702 $603K Reduce -1.4%
AVGO Broadcom Inc. 0.15% 375 $602K No change
MKL Markel Group Inc. 0.15% 378 $596K No change
GEF.B Greif Inc. Class B 0.15% 9,416 $588K Add +0.9%
XLF SS Financial Select Sector 0.14% 13,182 $542K Add +0.0%
SPGI S&P Global Inc. 0.12% 1,083 $483K No change
HON Honeywell International Inc. 0.12% 2,213 $473K Add +0.1%
NVDA Nvidia Corp. 0.12% 3,729 $461K No change
ACN Accenture PLC Class A 0.12% 1,512 $459K No change
IVV iShares Core S&P 500 ETF 0.11% 797 $436K No change
PM Philip Morris International 0.11% 4,235 $429K Add +0.5%
WERN Werner Enterprises Inc. 0.11% 11,874 $425K Add +0.4%
CSX CSX Corp. 0.10% 12,310 $412K No change
URI United Rentals Inc. 0.10% 608 $393K No change
IEFA iShares Core MSCI Eafe ETF 0.10% 5,235 $380K Add +0.4%
BKNG Booking Holdings Inc. 0.09% 95 $376K Reduce -36.7%
SPY SS SPDR S&P 500 ETF Trust-US 0.09% 691 $376K Add +0.1%
IVLU iShares MSCI International V 0.09% 12,472 $342K No change
MA Mastercard Inc. Class A 0.08% 756 $333K No change
INTU Intuit Inc. 0.08% 506 $333K Reduce -37.2%
GRBK Green Brick Partners Inc. 0.08% 5,800 $332K No change
CAT Caterpillar Inc. 0.08% 940 $313K Add +0.2%
CB Chubb Ltd. 0.08% 1,219 $311K Add +8.9%
COST Costco Wholesale Corp. 0.08% 365 $310K Add +0.3%
ICE Intercontinental Exchange Inc. 0.08% 2,184 $299K No change
UNP Union Pacific Corp. 0.07% 1,314 $297K Add +0.3%
FNDF Schwab Fndmn Intl LRG Co. ETF 0.07% 8,294 $291K Add +2.3%
ABT Abbott Laboratories 0.07% 2,649 $275K Add +0.2%
ITW Illinois Tool Works 0.07% 1,154 $273K Add +0.2%
MDU Mdu Resources Group Inc. 0.07% 10,785 $271K Add +0.3%
LPLA LPL Financial Holdings Inc. 0.07% 958 $268K No change
SYY Sysco Corp. 0.07% 3,712 $265K Reduce -3.9%
LMT Lockheed Martin Corp. 0.07% 554 $259K Add +1.3%
CRM Salesforce Inc. 0.06% 999 $257K Reduce -25.4%
DEM Wisdomtree Emerging Markets 0.06% 5,885 $255K Add +0.2%
MDLZ Mondelez International Inc. Class A 0.06% 3,760 $246K Add +0.0%
DHI D.R. Horton Inc. 0.06% 1,717 $242K No change
AMAT Applied Materials Inc. 0.06% 1,017 $240K No change
RTX RTX Corp. 0.06% 2,326 $233K Add +3.8%
SHEL Shell PLC-ADR 0.06% 3,183 $230K No change
ETN Eaton Corp. PLC 0.06% 725 $227K No change
GM General Motors Co. 0.06% 4,772 $222K No change
LOW Lowe's Cos Inc. 0.06% 1,003 $221K No change
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.06% 5,537 $220K Add +0.1%
NEE Nextera Energy Inc. 0.06% 3,094 $219K Reduce -1.4%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.05% 1,204 $208K Add +1.0%
CASY Casey's General Stores Inc. 0.05% 539 $206K No change
INN Summit Hotel Properties Inc. 0.05% 32,438 $194K Add +1.2%
NOC Northrop Grumman Corp. 0.05% 443 $193K Add +0.5%
AMT American Tower Corp. 0.05% 990 $193K Reduce -21.1%
VTS Vitesse Energy Inc. 0.05% 7,921 $188K Reduce -0.7%
QCOM Qualcomm Inc. 0.05% 923 $184K No change
UPS United Parcel Service Class B 0.05% 1,331 $182K Reduce -54.0%
SCHA Schwab US Small-Cap ETF 0.04% 3,572 $170K Add +3.0%
MNST Monster Beverage Corp. 0.04% 3,360 $168K Reduce -49.5%
ITB iShares U.S. Home Constructi 0.04% 1,644 $166K No change
CEF Sprott Physical Gold and Sil 0.04% 7,480 $165K No change
TXN Texas Instruments Inc. 0.04% 839 $163K Add +0.5%
TGT Target Corp. 0.04% 1,099 $163K Add +0.2%
KNF Knife River Corp. 0.04% 2,307 $162K No change
AMD Advanced Micro Devices 0.04% 981 $159K No change
IJH iShares Core S&P Midcap ETF 0.04% 2,599 $152K Add +0.2%
GLD SPDR Gold Shares 0.04% 691 $149K Reduce -80.4%
PFE Pfizer Inc. 0.04% 5,305 $148K Add +1.1%
NEM Newmont Corp. 0.04% 3,545 $148K Add +0.6%
FL Foot Locker Inc. 0.04% 5,808 $145K No change
AFL Aflac Inc. 0.04% 1,611 $144K Add +0.3%
VOO Vanguard S&P 500 ETF 0.04% 282 $141K Reduce -1.4%
IJR iShares Core S&P Small-Cap E 0.04% 1,313 $140K Add +0.1%
BA The Boeing Co. 0.03% 759 $138K No change
XEL Xcel Energy Inc. 0.03% 2,546 $136K No change
HSY The Hershey Co. 0.03% 686 $126K Add +0.7%
ORCL Oracle Corp. 0.03% 878 $124K Add +0.1%
DEO Diageo PLC-Sponsored ADR 0.03% 920 $116K Add +1.0%
ECL Ecolab Inc. 0.03% 473 $113K No change
ARWR Arrowhead Pharmaceuticals Inc. 0.03% 4,000 $104K No change
NKE Nike Inc. Class B 0.02% 1,087 $82K No change
VNQ Vanguard Real Estate ETF 0.02% 964 $81K No change
NGD New Gold Inc. 0.01% 15,000 $29K Add +25.0%
LCTX Lineage Cell Therapeutics Inc. 0.00% 15,000 $15K No change
BENSON HILL INC 0.00% 16,011 $2K No change
Other holdings (2): bonds, preferreds, convertibles and warrants · $71K (not counted above)
SecurityClassShares / PrincipalValueChange
SKYH.WS Yellowstone Acquisit A -CW25 *W EXP 01/25/202 43,299$54KReduce -15.7%
OPFI.WS Oppfi Inc. -CW26 *W EXP 07/20/202 134,700$18KNo change

Total filed on the 13F, all lines: $396.7M.

Portfolio Sells Q1 2024 → Q2 2024
FRFHF Fairfax Financial Hldgs Ltd. Reduce -20.7% 6.58% −1.33
BOC Boston Omaha Corp. Class A Reduce -1.6% 1.49% −0.24
KMX Carmax Inc. Reduce -3.9% 1.06% −0.23
CVS CVS Health Corp. Reduce -1.3% 0.56% −0.20
GLD SPDR Gold Shares Reduce -80.4% 0.04% −0.15
NVR NVR Inc. Reduce -0.8% 1.77% −0.15
SLV iShares Silver Trust Sold out 0.00% −0.14
ACI Albertsons Cos Inc. Class A Reduce -6.1% 0.88% −0.13
WBD Warner Bros Discovery Inc. Reduce -3.6% 0.51% −0.11
KVUE Kenvue Inc. Reduce -1.5% 0.35% −0.07
JNJ Johnson & Johnson Reduce -0.3% 0.82% −0.06
UPS United Parcel Service Class B Reduce -54.0% 0.05% −0.06
MNST Monster Beverage Corp. Reduce -49.5% 0.04% −0.06
V Visa Inc. Class A Reduce -11.1% 0.26% −0.05
INTU Intuit Inc. Reduce -37.2% 0.08% −0.05
HD Home Depot Inc. Reduce -8.3% 0.24% −0.05
BKNG Booking Holdings Inc. Reduce -36.7% 0.09% −0.04
EL Estee Lauder Companies Class A Sold out 0.00% −0.04
CRM Salesforce Inc. Reduce -25.4% 0.06% −0.04
MCD McDonald's Corp. Reduce -1.0% 0.22% −0.02
MRK Merck & Co. Inc. Reduce -0.6% 0.38% −0.02
ABBV Abbvie Inc. Reduce -2.1% 0.31% −0.02
UNH Unitedhealth Group Inc. Reduce -4.9% 0.93% −0.02
BWB Bridgewater Bancshares Inc. Reduce -5.4% 0.31% −0.02
AMT American Tower Corp. Reduce -21.1% 0.05% −0.01
SYY Sysco Corp. Reduce -3.9% 0.07% −0.01
BP BP PLC-Spons ADR Reduce -1.4% 0.15% −0.01
XOM Exxon Mobil Corp. Reduce -0.3% 0.24% −0.00
VTS Vitesse Energy Inc. Reduce -0.7% 0.05% 0.00
VOO Vanguard S&P 500 ETF Reduce -1.4% 0.04% +0.00
PG The Procter & Gamble Co. Reduce -0.3% 0.15% +0.00
NEE Nextera Energy Inc. Reduce -1.4% 0.06% +0.01
WFC Wells Fargo & Co. Reduce -1.8% 1.35% +0.01
MMM 3M Co. Reduce -3.0% 0.19% +0.02
IEMG iShares Core MSCI Emerging Reduce -1.9% 4.25% +0.04
SCHB Schwab US Broad Market ETF Reduce -1.8% 3.83% +0.04
OPFI Oppfi Inc. Reduce -7.9% 0.53% +0.10
MSFT Microsoft Corp. Reduce -0.3% 2.73% +0.13
AAPL Apple Inc. Reduce -1.8% 0.85% +0.15

Portfolio Buys Q1 2024 → Q2 2024
LBTYK Liberty Global Ltd. Class C Add +71.7% 3.36% +1.46
LLY Eli Lilly & Co. Add +4.6% 5.62% +1.12
FNDE Schwab Fndmntl Em MRK Eq ETF Add +13.7% 2.28% +0.38
CASH Pathward Financial Inc. Add +1.9% 2.76% +0.35
TBBK The Bancorp Inc. Add +0.8% 2.14% +0.29
FWONA Liberty Media Corp. Class A Add +2.7% 2.22% +0.24
SCHF Schwab Intl Equity ETF Add +18.4% 1.64% +0.23
VBR Vngrd Mrngst SL-CP Val ETF-U Add +28.5% 0.71% +0.13
EFV iShares MSCI Eafe Value ETF Add +5.3% 3.68% +0.11
C Citigroup Inc. Add +8.3% 1.18% +0.09
CWGL Crimson Wine Group Ltd. Add +0.7% 2.15% +0.07
SCHW Schwab (charles) Corp. Add +0.9% 2.66% +0.07
GOOG Alphabet Inc. Class C Add +0.0% 0.39% +0.06
AMLP Alerian MLP ETF Add +1.8% 1.97% +0.05
BATRK Atlanta Braves Holdings in-C Add +2.9% 1.20% +0.04
WMT Walmart Inc. Add +0.1% 0.39% +0.04
TSM Taiwan Semiconductor-SP ADR Add +0.0% 0.20% +0.04
FFXDF Fairfax India Ho-Sub VTG SHS Add +6.8% 0.78% +0.03
SCHX Schwab US Large-Cap ETF Add +0.8% 0.67% +0.03
AXP American Express Co. Add +0.4% 1.06% +0.02
PM Philip Morris International Add +0.5% 0.11% +0.01
VWO Vanguard Ftse Emerging Marke Add +0.2% 0.29% +0.01
COST Costco Wholesale Corp. Add +0.3% 0.08% +0.01
KO The Coca-Cola Co. Add +0.1% 0.17% +0.01
SCHV Schwab US Large-Cap Value Add +4.2% 0.38% +0.01
HON Honeywell International Inc. Add +0.1% 0.12% +0.01
CB Chubb Ltd. Add +8.9% 0.08% +0.01
NEM Newmont Corp. Add +0.6% 0.04% +0.01
TXN Texas Instruments Inc. Add +0.5% 0.04% +0.00
RTX RTX Corp. Add +3.8% 0.06% +0.00
SPY SS SPDR S&P 500 ETF Trust-US Add +0.1% 0.09% +0.00
ORCL Oracle Corp. Add +0.1% 0.03% +0.00
BAC Bank of America Corp. Add +0.1% 0.06% +0.00
JPM JPMorgan Chase & Co. Add +0.0% 0.23% +0.00
LMT Lockheed Martin Corp. Add +1.3% 0.07% +0.00
NGD New Gold Inc. Add +25.0% 0.01% +0.00
DEM Wisdomtree Emerging Markets Add +0.2% 0.06% +0.00
AFL Aflac Inc. Add +0.3% 0.04% +0.00
PFE Pfizer Inc. Add +1.1% 0.04% +0.00
FNDF Schwab Fndmn Intl LRG Co. ETF Add +2.3% 0.07% +0.00
EPD Enterprise Products Partners Add +1.3% 0.70% +0.00
BUD Anheuser-Busch Inbev-SPN ADR Add +4.7% 0.87% +0.00
SCHA Schwab US Small-Cap ETF Add +3.0% 0.04% −0.00
MDU Mdu Resources Group Inc. Add +0.3% 0.07% −0.00
CVX Chevron Corp. Add +0.6% 0.24% −0.00
IJR iShares Core S&P Small-Cap E Add +0.1% 0.04% −0.00
IJH iShares Core S&P Midcap ETF Add +0.2% 0.04% −0.00
IEFA iShares Core MSCI Eafe ETF Add +0.4% 0.10% −0.00
HSY The Hershey Co. Add +0.7% 0.03% −0.00
XLF SS Financial Select Sector Add +0.0% 0.14% −0.00

Notes & Other Activity Q1 2024 → Q2 2024
SKYH.WS Yellowstone Acquisit A -CW25 *W EXP 01/25/202 Reduce -15.7% 43,299 $54K

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

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