Elgethun Capital Management

In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 14, 2024), Elgethun Capital Management reported 152 stock positions worth $425.9 million. Its top holding was Berkshire Hathaway Class B (BRK.B) at 13.9% of the portfolio, followed by Fairfax Financial (FRFHF, 6.8%) and Eli Lilly (LLY, 5.1%). Compared with Q2 2024, it opened 4 new positions, sold out of 4, added to 74 and reduced 30. The biggest buy was a new position in Sirius XM (SIRI) and the biggest sale an exit from Liberty Media Corp.-Liber-New (LSXMK).

Most Recent 13F
Q2 2026
Location
SIOUX FALLS, SD
CIK
0001638022
Portfolio Value
$425.9M (Q3 2024)
SEC Filing
0001420506-24-002513 ↗ filed Nov 14, 2024

Holdings Value

0$200.0M$400.0M$600.0M$800.0M Q1 2024: $396.4M Q1 2024 Q2 2024: $396.6M Q2 2024 Q3 2024: $425.9M $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 · $425.9M
BRK.B Berkshire Hathaway Inc. Class B 13.86% 128,273 $59.0M Add +1.3%
FRFHF Fairfax Financial Hldgs Ltd. 6.82% 23,084 $29.0M Add +0.6%
LLY Eli Lilly & Co. 5.12% 24,634 $21.8M Add +0.0%
IEMG iShares Core MSCI Emerging 4.28% 317,332 $18.2M Add +0.8%
LBTYK Liberty Global Ltd. Class C 3.86% 759,948 $16.4M Add +1.7%
EFV iShares MSCI Eafe Value ETF 3.80% 281,368 $16.2M Add +2.4%
SCHB Schwab US Broad Market ETF 3.77% 241,259 $16.0M Reduce -0.2%
CASH Pathward Financial Inc. 3.01% 194,116 $12.8M Add +0.2%
TBBK The Bancorp Inc. 2.88% 229,476 $12.3M Add +2.2%
MSFT Microsoft Corp. 2.42% 23,932 $10.3M Reduce -1.1%
FNDE Schwab Fndmntl Em MRK Eq ETF 2.42% 319,042 $10.3M Add +4.4%
FWONA Liberty Media Corp. Class A 2.34% 139,232 $10.0M Add +1.5%
SCHW Schwab (charles) Corp. 2.22% 145,747 $9.4M Add +1.7%
CWGL Crimson Wine Group Ltd. 2.16% 1,458,403 $9.2M Add +2.1%
NVR NVR Inc. 2.12% 921 $9.0M Reduce -0.2%
AMLP Alerian MLP ETF 1.84% 166,211 $7.8M Add +2.3%
SCHF Schwab Intl Equity ETF 1.75% 181,741 $7.5M Add +7.5%
BOC Boston Omaha Corp. Class A 1.68% 480,823 $7.1M Add +9.8%
SIRI Sirius XM Holdings Inc. 1.36% 244,935 $5.8M New
VDE Vanguard Energy ETF 1.33% 46,288 $5.7M Add +0.5%
WFC Wells Fargo & Co. 1.20% 90,560 $5.1M Add +0.6%
AXP American Express Co. 1.19% 18,646 $5.1M Add +2.4%
BATRK Atlanta Braves Holdings in-C 1.16% 124,424 $5.0M Add +3.0%
C Citigroup Inc. 1.15% 78,328 $4.9M Add +6.6%
KR Kroger Co. 1.09% 81,126 $4.6M Add +5.5%
KMX Carmax Inc. 1.04% 57,236 $4.4M Add +0.1%
DFH Dream Finders Homes Inc. Class A 0.99% 115,978 $4.2M Add +24.8%
UNH Unitedhealth Group Inc. 0.96% 7,020 $4.1M Reduce -3.3%
BUD Anheuser-Busch Inbev-SPN ADR 0.95% 61,146 $4.1M Add +2.6%
AAPL Apple Inc. 0.83% 15,160 $3.5M Reduce -5.5%
FFXDF Fairfax India Ho-Sub VTG SHS 0.80% 227,669 $3.4M Add +5.4%
VBR Vngrd Mrngst SL-CP Val ETF-U 0.79% 16,793 $3.4M Add +8.9%
AMZN Amazon.com Inc. 0.77% 17,605 $3.3M No change
ACI Albertsons Cos Inc. Class A 0.76% 175,701 $3.2M Reduce -0.3%
STLA Stellantis NV 0.74% 223,216 $3.1M Add +8.2%
IWR iShares Russell Mid-Cap ETF 0.74% 35,572 $3.1M Add +0.0%
INTC Intel Corp. 0.72% 130,051 $3.1M Add +6.4%
OPFI Oppfi Inc. 0.69% 623,647 $2.9M Reduce -0.2%
EPD Enterprise Products Partners 0.68% 99,694 $2.9M Add +4.1%
BTT BlackRock 2030 Muni TRGT TRM 0.68% 132,989 $2.9M New
SCHX Schwab US Large-Cap ETF 0.64% 40,105 $2.7M Reduce -2.8%
WMT Walmart Inc. 0.44% 23,002 $1.9M Add +0.1%
KVUE Kenvue Inc. 0.40% 73,626 $1.7M Reduce -2.8%
SCHV Schwab US Large-Cap Value 0.39% 20,787 $1.7M Add +1.3%
ABBV Abbvie Inc. 0.33% 7,111 $1.4M Add +0.3%
MRK Merck & Co. Inc. 0.32% 12,056 $1.4M Reduce -0.6%
WRB WR Berkley Corp. filed as BERKLEY W R CORP 0.32% 24,060 $1.4M No change
GOOG Alphabet Inc. Class C 0.31% 7,774 $1.3M Reduce -7.7%
GOOGL Alphabet Inc. Class A 0.30% 7,811 $1.3M No change
BWB Bridgewater Bancshares Inc. 0.29% 87,935 $1.2M Reduce -16.0%
VWO Vanguard Ftse Emerging Marke 0.29% 25,726 $1.2M Reduce -0.6%
PEP Pepsico Inc. 0.28% 6,981 $1.2M Add +0.1%
HD Home Depot Inc. 0.26% 2,750 $1.1M No change
V Visa Inc. Class A 0.26% 3,990 $1.1M Add +0.0%
MCD McDonald's Corp. 0.24% 3,386 $1.0M Add +0.5%
MMM 3M Co. 0.24% 7,375 $1.0M Add +0.3%
XOM Exxon Mobil Corp. 0.23% 8,290 $972K Reduce -0.4%
JPM JPMorgan Chase & Co. 0.22% 4,457 $940K Add +0.0%
IWM iShares Russell 2000 ETF 0.21% 4,129 $912K Add +0.1%
CVX Chevron Corp. 0.21% 6,191 $912K Add +0.7%
TSM Taiwan Semiconductor-SP ADR 0.19% 4,621 $803K Add +2.2%
EFA iShares MSCI Eafe ETF 0.18% 9,137 $764K No change
KO The Coca-Cola Co. 0.18% 10,513 $755K Add +0.1%
NOW ServiceNow Inc. 0.17% 830 $742K Reduce -17.0%
DHR Danaher Corp. 0.16% 2,431 $676K No change
IWO iShares Russell 2000 Growth 0.16% 2,375 $675K No change
GEF.B Greif Inc. Class B 0.15% 9,422 $658K Add +0.1%
MPC Marathon Petroleum Corp. 0.15% 4,000 $652K No change
AVGO Broadcom Inc. 0.15% 3,750 $647K No change
PG The Procter & Gamble Co. 0.15% 3,629 $629K Reduce -1.4%
XLF SS Financial Select Sector 0.14% 13,186 $598K Add +0.0%
MKL Markel Group Inc. 0.14% 378 $593K No change
SPY SS SPDR S&P 500 ETF Trust-US 0.13% 990 $568K Add +43.3%
JNJ Johnson & Johnson 0.13% 3,454 $560K Reduce -84.5%
SPGI S&P Global Inc. 0.13% 1,083 $560K No change
ACN Accenture PLC Class A 0.13% 1,512 $534K No change
BP BP PLC-Spons ADR 0.12% 16,827 $528K Add +0.8%
PM Philip Morris International 0.12% 4,253 $516K Add +0.4%
URI United Rentals Inc. 0.12% 608 $492K No change
GRBK Green Brick Partners Inc. 0.11% 5,800 $484K No change
NVDA Nvidia Corp. 0.11% 3,834 $466K Add +2.8%
IVV iShares Core S&P 500 ETF 0.11% 798 $460K Add +0.1%
HON Honeywell International Inc. 0.11% 2,214 $458K Add +0.1%
CSX CSX Corp. 0.10% 12,310 $425K No change
WERN Werner Enterprises Inc. 0.10% 10,685 $412K Reduce -10.0%
IEFA iShares Core MSCI Eafe ETF 0.10% 5,235 $409K No change
BKNG Booking Holdings Inc. 0.09% 95 $400K No change
MA Mastercard Inc. Class A 0.09% 756 $373K No change
CAT Caterpillar Inc. 0.09% 942 $368K Add +0.2%
IVLU iShares MSCI International V 0.09% 12,356 $365K Reduce -0.9%
CB Chubb Ltd. 0.08% 1,219 $352K No change
ICE Intercontinental Exchange Inc. 0.08% 2,184 $351K No change
DHI D.R. Horton Inc. 0.08% 1,717 $328K No change
LMT Lockheed Martin Corp. 0.08% 557 $326K Add +0.5%
UNP Union Pacific Corp. 0.08% 1,315 $324K Add +0.1%
COST Costco Wholesale Corp. 0.08% 365 $323K No change
FNDF Schwab Fndmn Intl LRG Co. ETF 0.07% 8,483 $317K Add +2.3%
INTU Intuit Inc. 0.07% 506 $314K No change
ITW Illinois Tool Works 0.07% 1,156 $303K Add +0.2%
ABT Abbott Laboratories 0.07% 2,655 $303K Add +0.2%
RSP Invesco S&P 500 Equal Weight 0.07% 1,652 $296K New
MDU Mdu Resources Group Inc. 0.07% 10,593 $290K Reduce -1.8%
SYY Sysco Corp. 0.07% 3,702 $289K Reduce -0.3%
RTX RTX Corp. 0.07% 2,337 $283K Add +0.5%
MDLZ Mondelez International Inc. Class A 0.07% 3,761 $277K Add +0.0%
CRM Salesforce Inc. 0.06% 999 $274K No change
LOW Lowe's Cos Inc. 0.06% 1,003 $272K No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.06% 1,213 $268K Add +0.8%
NEE Nextera Energy Inc. 0.06% 3,094 $262K No change
DEM Wisdomtree Emerging Markets 0.06% 5,902 $260K Add +0.3%
ETN Eaton Corp. PLC 0.06% 725 $240K No change
NOC Northrop Grumman Corp. 0.06% 445 $235K Add +0.5%
AMT American Tower Corp. 0.05% 991 $231K Add +0.1%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.05% 5,540 $220K Add +0.1%
ITB iShares U.S. Home Constructi 0.05% 1,644 $209K No change
GM General Motors Co. 0.05% 4,612 $207K Reduce -3.4%
KNF Knife River Corp. 0.05% 2,307 $206K No change
AMAT Applied Materials Inc. 0.05% 1,017 $206K No change
SHEL Shell PLC-ADR 0.05% 3,083 $203K Reduce -3.1%
DE Deere & Co. 0.05% 486 $203K New
CASY Casey's General Stores Inc. 0.05% 539 $202K No change
NEM Newmont Corp. 0.04% 3,561 $190K Add +0.5%
VTS Vitesse Energy Inc. 0.04% 7,905 $190K Reduce -0.2%
SCHA Schwab US Small-Cap ETF 0.04% 3,583 $185K Add +0.3%
UPS United Parcel Service Class B 0.04% 1,348 $184K Add +1.3%
CEF Sprott Physical Gold and Sil 0.04% 7,480 $183K No change
MNST Monster Beverage Corp. 0.04% 3,360 $175K No change
TXN Texas Instruments Inc. 0.04% 844 $174K Add +0.6%
TGT Target Corp. 0.04% 1,102 $172K Add +0.3%
XEL Xcel Energy Inc. 0.04% 2,546 $166K No change
INN Summit Hotel Properties Inc. 0.04% 24,001 $165K Reduce -26.0%
IJH iShares Core S&P Midcap ETF 0.04% 2,604 $162K Add +0.2%
GLD SPDR Gold Shares 0.04% 665 $162K Reduce -3.8%
AMD Advanced Micro Devices 0.04% 981 $161K No change
QCOM Qualcomm Inc. 0.04% 923 $157K No change
IJR iShares Core S&P Small-Cap E 0.04% 1,317 $154K Add +0.3%
FL Foot Locker Inc. 0.04% 5,808 $150K No change
ORCL Oracle Corp. 0.04% 879 $150K Add +0.1%
VOO Vanguard S&P 500 ETF 0.04% 283 $149K Add +0.3%
HSY The Hershey Co. 0.03% 691 $132K Add +0.7%
DEO Diageo PLC-Sponsored ADR 0.03% 920 $129K No change
PFE Pfizer Inc. 0.03% 4,267 $123K Reduce -19.6%
ECL Ecolab Inc. 0.03% 473 $121K No change
BA The Boeing Co. 0.03% 759 $115K No change
LPLA LPL Financial Holdings Inc. 0.03% 493 $115K Reduce -48.5%
SBUX Starbucks Corp. 0.03% 1,114 $109K Reduce -97.5%
AFL Aflac Inc. 0.02% 879 $98K Reduce -45.4%
NKE Nike Inc. Class B 0.02% 1,087 $96K No change
VNQ Vanguard Real Estate ETF 0.02% 968 $94K Add +0.4%
ARWR Arrowhead Pharmaceuticals Inc. 0.02% 4,000 $77K No change
NGD New Gold Inc. 0.01% 15,000 $43K No change
LCTX Lineage Cell Therapeutics Inc. 0.00% 15,000 $14K No change
Other holdings (1): bonds, preferreds, convertibles and warrants · $23K (not counted above)
SecurityClassShares / PrincipalValueChange
OPFI.WS Oppfi Inc. -CW26 *W EXP 07/20/202 109,700$23KReduce -18.6%

Total filed on the 13F, all lines: $426.0M.

Portfolio Sells Q2 2024 → Q3 2024
LSXMK Liberty Media Corp.-Liber-New Sold out 0.00% −1.52
SBUX Starbucks Corp. Reduce -97.5% 0.03% −0.86
JNJ Johnson & Johnson Reduce -84.5% 0.13% −0.69
CVS CVS Health Corp. Sold out 0.00% −0.56
WBD Warner Bros Discovery Inc. Sold out 0.00% −0.51
MSFT Microsoft Corp. Reduce -1.1% 2.42% −0.31
ACI Albertsons Cos Inc. Class A Reduce -0.3% 0.76% −0.12
GOOG Alphabet Inc. Class C Reduce -7.7% 0.31% −0.08
SCHB Schwab US Broad Market ETF Reduce -0.2% 3.77% −0.06
MRK Merck & Co. Inc. Reduce -0.6% 0.32% −0.06
LPLA LPL Financial Holdings Inc. Reduce -48.5% 0.03% −0.04
SCHX Schwab US Large-Cap ETF Reduce -2.8% 0.64% −0.03
NOW ServiceNow Inc. Reduce -17.0% 0.17% −0.02
AAPL Apple Inc. Reduce -5.5% 0.83% −0.02
BWB Bridgewater Bancshares Inc. Reduce -16.0% 0.29% −0.01
XOM Exxon Mobil Corp. Reduce -0.4% 0.23% −0.01
AFL Aflac Inc. Reduce -45.4% 0.02% −0.01
WERN Werner Enterprises Inc. Reduce -10.0% 0.10% −0.01
INN Summit Hotel Properties Inc. Reduce -26.0% 0.04% −0.01
SHEL Shell PLC-ADR Reduce -3.1% 0.05% −0.01
PFE Pfizer Inc. Reduce -19.6% 0.03% −0.01
GM General Motors Co. Reduce -3.4% 0.05% −0.01
PG The Procter & Gamble Co. Reduce -1.4% 0.15% −0.01
VTS Vitesse Energy Inc. Reduce -0.2% 0.04% −0.00
BENSON HILL INC Sold out 0.00% −0.00
IVLU iShares MSCI International V Reduce -0.9% 0.09% −0.00
MDU Mdu Resources Group Inc. Reduce -1.8% 0.07% −0.00
GLD SPDR Gold Shares Reduce -3.8% 0.04% +0.00
SYY Sysco Corp. Reduce -0.3% 0.07% +0.00
VWO Vanguard Ftse Emerging Marke Reduce -0.6% 0.29% +0.00
UNH Unitedhealth Group Inc. Reduce -3.3% 0.96% +0.03
KVUE Kenvue Inc. Reduce -2.8% 0.40% +0.05
OPFI Oppfi Inc. Reduce -0.2% 0.69% +0.16
NVR NVR Inc. Reduce -0.2% 2.12% +0.36

Portfolio Buys Q2 2024 → Q3 2024
SIRI Sirius XM Holdings Inc. New 1.36% +1.36
BRK.B Berkshire Hathaway Inc. Class B Add +1.3% 13.86% +0.87
TBBK The Bancorp Inc. Add +2.2% 2.88% +0.74
BTT BlackRock 2030 Muni TRGT TRM New 0.68% +0.68
LBTYK Liberty Global Ltd. Class C Add +1.7% 3.86% +0.49
DFH Dream Finders Homes Inc. Class A Add +24.8% 0.99% +0.38
CASH Pathward Financial Inc. Add +0.2% 3.01% +0.24
FRFHF Fairfax Financial Hldgs Ltd. Add +0.6% 6.82% +0.24
BOC Boston Omaha Corp. Class A Add +9.8% 1.68% +0.19
FNDE Schwab Fndmntl Em MRK Eq ETF Add +4.4% 2.42% +0.14
EFV iShares MSCI Eafe Value ETF Add +2.4% 3.80% +0.13
AXP American Express Co. Add +2.4% 1.19% +0.12
KR Kroger Co. Add +5.5% 1.09% +0.12
SCHF Schwab Intl Equity ETF Add +7.5% 1.75% +0.12
FWONA Liberty Media Corp. Class A Add +1.5% 2.34% +0.12
VBR Vngrd Mrngst SL-CP Val ETF-U Add +8.9% 0.79% +0.08
BUD Anheuser-Busch Inbev-SPN ADR Add +2.6% 0.95% +0.08
RSP Invesco S&P 500 Equal Weight New 0.07% +0.07
DE Deere & Co. New 0.05% +0.05
MMM 3M Co. Add +0.3% 0.24% +0.05
WMT Walmart Inc. Add +0.1% 0.44% +0.04
SPY SS SPDR S&P 500 ETF Trust-US Add +43.3% 0.13% +0.04
IEMG iShares Core MSCI Emerging Add +0.8% 4.28% +0.03
MCD McDonald's Corp. Add +0.5% 0.24% +0.03
ABBV Abbvie Inc. Add +0.3% 0.33% +0.02
PM Philip Morris International Add +0.4% 0.12% +0.01
FFXDF Fairfax India Ho-Sub VTG SHS Add +5.4% 0.80% +0.01
LMT Lockheed Martin Corp. Add +0.5% 0.08% +0.01
IBM Intl Business Machines Corp. Add +0.8% 0.06% +0.01
CWGL Crimson Wine Group Ltd. Add +2.1% 2.16% +0.01
IWR iShares Russell Mid-Cap ETF Add +0.0% 0.74% +0.01
SCHV Schwab US Large-Cap Value Add +1.3% 0.39% +0.01
KO The Coca-Cola Co. Add +0.1% 0.18% +0.01
CAT Caterpillar Inc. Add +0.2% 0.09% +0.01
RTX RTX Corp. Add +0.5% 0.07% +0.01
NEM Newmont Corp. Add +0.5% 0.04% +0.01
NOC Northrop Grumman Corp. Add +0.5% 0.06% +0.01
GEF.B Greif Inc. Class B Add +0.1% 0.15% +0.01
AMT American Tower Corp. Add +0.1% 0.05% +0.01
ORCL Oracle Corp. Add +0.1% 0.04% +0.00
XLF SS Financial Select Sector Add +0.0% 0.14% +0.00
IWM iShares Russell 2000 ETF Add +0.1% 0.21% +0.00
MDLZ Mondelez International Inc. Class A Add +0.0% 0.07% +0.00
ITW Illinois Tool Works Add +0.2% 0.07% +0.00
VNQ Vanguard Real Estate ETF Add +0.4% 0.02% +0.00
ABT Abbott Laboratories Add +0.2% 0.07% +0.00
FNDF Schwab Fndmn Intl LRG Co. ETF Add +2.3% 0.07% +0.00
UNP Union Pacific Corp. Add +0.1% 0.08% +0.00
IJR iShares Core S&P Small-Cap E Add +0.3% 0.04% +0.00
SCHA Schwab US Small-Cap ETF Add +0.3% 0.04% +0.00

Notes & Other Activity Q2 2024 → Q3 2024
SKYH.WS Yellowstone Acquisit A -CW25 *W EXP 01/25/202 Sold out 43,299 $54Kbefore exit
OPFI.WS Oppfi Inc. -CW26 *W EXP 07/20/202 Reduce -18.6% 109,700 $23K

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