Elgethun Capital Management

Name: Elgethun Capital Management 13F holdings, Q1 2025
Creator: Elgethun Capital Management
Published: 2025-05-09

Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 9, 2025), Elgethun Capital Management reported 151 stock positions worth $447.6 million. Its top holding was Berkshire Hathaway Class B (BRK.B) at 15.2% of the portfolio, followed by Fairfax Financial (FRFHF, 7.9%) and iShares MSCI Eafe Value ETF (EFV, 4.7%). Compared with Q4 2024, it opened 9 new positions, sold out of 12, added to 66 and reduced 52. The biggest buy was Boston Omaha Class A (BOC, shares +80%) and the biggest sale an exit from Sirius XM (SIRI).

Most Recent 13F: Q2 2026
Location: SIOUX FALLS, SD
CIK: 0001638022
Portfolio Value: $447.6M (Q1 2025)
SEC Filing: 0001420506-25-000978 ↗ filed May 9, 2025

Holdings Value

Holdings 151 stocks · $447.6M


BRK.B Berkshire Hathaway Inc. Class B	15.23%	128,021	$68.2M	Add +0.7%
FRFHF Fairfax Financial Hldgs Ltd.	7.91%	24,453	$35.4M	Add +4.5%
EFV iShares MSCI Eafe Value ETF	4.73%	359,450	$21.2M	Add +17.4%
LLY Eli Lilly & Co.	4.55%	24,636	$20.3M	Reduce -0.2%
IEMG iShares Core MSCI Emerging	4.07%	337,557	$18.2M	Add +7.2%
SCHB Schwab US Broad Market ETF	3.29%	683,898	$14.7M	Reduce -3.7%
BOC Boston Omaha Corp. Class A	3.29%	1,009,471	$14.7M	Add +80.4%
FNDE Schwab Fndmntl Em MRK Eq ETF	2.84%	413,155	$12.7M	Add +18.2%
CASH Pathward Financial Inc.	2.84%	173,959	$12.7M	Add +4.5%
SCHW Schwab (charles) Corp.	2.78%	159,001	$12.4M	Add +7.6%
C Citigroup Inc.	2.69%	169,505	$12.0M	Add +6.9%
FWONA Liberty Media Corp. Class A	2.57%	141,286	$11.5M	Add +1.3%
SCHF Schwab Intl Equity ETF	2.36%	534,219	$10.6M	Add +17.6%
LBTYK Liberty Global Ltd. Class C	2.20%	820,896	$9.8M	Add +6.0%
MSFT Microsoft Corp.	2.06%	24,603	$9.2M	Add +1.8%
AMLP Alerian MLP ETF	2.02%	173,982	$9.0M	Add +1.3%
CWGL Crimson Wine Group Ltd.	1.90%	1,478,780	$8.5M	Add +0.6%
VDE Vanguard Energy ETF	1.45%	50,165	$6.5M	Add +3.9%
TBBK The Bancorp Inc.	1.30%	110,425	$5.8M	Add +1.5%
BATRK Atlanta Braves Holdings in-C	1.22%	136,281	$5.5M	Add +5.2%
KR Kroger Co.	1.21%	80,294	$5.4M	Add +1.8%
KMX Carmax Inc.	1.08%	61,907	$4.8M	Add +0.6%
FFXDF Fairfax India Ho-Sub VTG SHS	1.06%	283,177	$4.7M	Add +8.9%
AXP American Express Co.	1.04%	17,284	$4.7M	Reduce -1.9%
VBR Vngrd Mrngst SL-CP Val ETF-U	1.04%	24,919	$4.6M	Add +39.9%
RSP Invesco S&P 500 Equal Weight	0.96%	24,809	$4.3M	Add +24.6%
ACI Albertsons Cos Inc. Class A	0.95%	192,662	$4.2M	Add +8.4%
DFH Dream Finders Homes Inc. Class A	0.93%	185,088	$4.2M	Add +44.9%
NVR NVR Inc.	0.93%	572	$4.1M	Reduce -2.9%
UNH Unitedhealth Group Inc.	0.88%	7,483	$3.9M	Add +5.7%
STLA Stellantis NV	0.79%	316,685	$3.6M	Add +259.8%
AAPL Apple Inc.	0.79%	15,834	$3.5M	Reduce -5.3%
EPD Enterprise Products Partners	0.78%	101,630	$3.5M	Add +0.7%
AMZN Amazon.com Inc.	0.74%	17,443	$3.3M	Reduce -4.0%
INTC Intel Corp.	0.71%	139,136	$3.2M	Add +243.2%
IWR iShares Russell Mid-Cap ETF	0.68%	35,515	$3.0M	Reduce -0.2%
BTT BlackRock 2030 Muni TRGT TRM	0.63%	132,081	$2.8M	Reduce -0.6%
SCHX Schwab US Large-Cap ETF	0.54%	108,731	$2.4M	Reduce -2.9%
SPSM SS SPDR P S&P 600 Small Cap	0.47%	51,968	$2.1M	Add +59.2%
WMT Walmart Inc.	0.46%	23,357	$2.1M	Reduce -1.9%
SCHV Schwab US Large-Cap Value	0.44%	73,488	$2.0M	Add +14.5%
WRB WR Berkley Corp. filed as BERKLEY W R CORP	0.38%	24,064	$1.7M	Add +0.0%
KVUE Kenvue Inc.	0.36%	67,497	$1.6M	Reduce -5.0%
V Visa Inc. Class A	0.31%	3,952	$1.4M	Reduce -3.5%
VWO Vanguard Ftse Emerging Marke	0.31%	30,170	$1.4M	Add +17.6%
ABBV Abbvie Inc.	0.30%	6,500	$1.4M	Reduce -8.8%
GOOGL Alphabet Inc. Class A	0.29%	8,487	$1.3M	Add +4.8%
GOOG Alphabet Inc. Class C	0.28%	8,058	$1.3M	Add +0.0%
JPM JPMorgan Chase & Co.	0.27%	4,918	$1.2M	Add +4.2%
HD Home Depot Inc.	0.27%	3,292	$1.2M	Add +13.6%
BWB Bridgewater Bancshares Inc.	0.26%	82,575	$1.1M	Reduce -2.6%
MRK Merck & Co. Inc.	0.24%	11,938	$1.1M	Reduce -1.4%
XOM Exxon Mobil Corp.	0.24%	8,971	$1.1M	Add +2.0%
MMM 3M Co.	0.24%	7,230	$1.1M	Add +5.1%
MCD McDonald's Corp.	0.23%	3,361	$1.0M	Reduce -1.1%
PEP Pepsico Inc.	0.21%	6,240	$936K	Reduce -11.2%
CVX Chevron Corp.	0.20%	5,279	$883K	Reduce -19.8%
IWM iShares Russell 2000 ETF	0.18%	4,129	$824K	No change
KO The Coca-Cola Co.	0.18%	11,338	$812K	Add +5.2%
BRK.A Berkshire Hathaway Inc. Class A	0.18%	1	$798K	No change
EFA iShares MSCI Eafe ETF	0.17%	9,137	$747K	No change
PM Philip Morris International	0.16%	4,618	$733K	Add +8.2%
IEFA iShares Core MSCI Eafe ETF	0.15%	9,056	$685K	Add +72.3%
VTI VG Morningstar TS MKT ETF-US	0.15%	2,429	$668K	Add +44.1%
NOW ServiceNow Inc.	0.15%	830	$661K	Reduce -2.6%
PG The Procter & Gamble Co.	0.15%	3,842	$655K	Reduce -0.8%
AVGO Broadcom Inc.	0.15%	3,880	$650K	Reduce -2.5%
NVDA Nvidia Corp.	0.14%	5,903	$640K	Add +18.2%
TSM Taiwan Semiconductor-SP ADR	0.14%	3,843	$638K	Reduce -3.9%
JNJ Johnson & Johnson	0.14%	3,823	$634K	Add +6.4%
VEA Vanguard Ftse Developed ETF	0.14%	12,245	$622K	New
XLF SS Financial Select Sector	0.14%	12,344	$615K	Reduce -6.4%
IWO iShares Russell 2000 Growth	0.14%	2,375	$607K	No change
BP BP PLC-Spons ADR	0.13%	16,640	$562K	Reduce -4.4%
MKL Markel Group Inc.	0.12%	297	$555K	Reduce -2.9%
SPGI S&P Global Inc.	0.12%	1,083	$550K	No change
BSV Vanguard Short-Term Bond ETF	0.11%	6,460	$506K	New
GEF.B Greif Inc. Class B	0.11%	8,503	$504K	Reduce -9.9%
DHR Danaher Corp.	0.11%	2,432	$498K	Reduce -3.4%
VYM Vanguard High DVD Yield ETF	0.11%	3,700	$477K	New
ACN Accenture PLC Class A	0.11%	1,512	$472K	No change
MPC Marathon Petroleum Corp.	0.10%	3,168	$462K	Reduce -20.8%
BKNG Booking Holdings Inc.	0.10%	95	$438K	Reduce -6.9%
URI United Rentals Inc.	0.10%	683	$428K	Add +12.3%
ORCL Oracle Corp.	0.09%	3,012	$421K	Add +183.6%
MA Mastercard Inc. Class A	0.09%	756	$414K	Reduce -8.0%
HON Honeywell International Inc.	0.09%	1,930	$409K	Reduce -12.9%
ABT Abbott Laboratories	0.09%	3,026	$401K	Add +6.7%
VTEB Vanguard Tax-Exempt Bond ETF	0.09%	8,011	$398K	New
ICE Intercontinental Exchange Inc.	0.08%	2,184	$377K	No change
IJR iShares Core S&P Small-Cap E	0.08%	3,595	$376K	Add +171.5%
CB Chubb Ltd.	0.08%	1,219	$368K	No change
COST Costco Wholesale Corp.	0.08%	384	$363K	Reduce -2.5%
CSX CSX Corp.	0.08%	12,310	$362K	Reduce -3.8%
DE Deere & Co.	0.08%	755	$354K	Add +54.7%
CAT Caterpillar Inc.	0.08%	1,067	$352K	Reduce -2.7%
GRBK Green Brick Partners Inc.	0.08%	6,000	$350K	Add +3.5%
RTX RTX Corp.	0.07%	2,490	$330K	Reduce -5.4%
SPY SS SPDR S&P 500 ETF Trust-US	0.07%	589	$329K	Reduce -14.6%
ITW Illinois Tool Works	0.07%	1,282	$318K	Add +8.9%
UNP Union Pacific Corp.	0.07%	1,319	$312K	Reduce -7.2%
INTU Intuit Inc.	0.07%	506	$311K	Reduce -12.9%
FNDF Schwab Fndmn Intl LRG Co. ETF	0.07%	8,515	$308K	Reduce -1.0%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS	0.07%	1,229	$306K	Add +0.6%
WERN Werner Enterprises Inc.	0.06%	9,691	$284K	Reduce -8.2%
SCHO Schwab Short-Term US Treas	0.06%	11,478	$279K	New
SYY Sysco Corp.	0.06%	3,643	$273K	Reduce -2.3%
BND Vanguard Total Bond Market	0.06%	3,688	$271K	New
CRM Salesforce Inc.	0.06%	961	$258K	Reduce -16.0%
MDLZ Mondelez International Inc. Class A	0.06%	3,762	$255K	Add +0.0%
LMT Lockheed Martin Corp.	0.06%	560	$250K	No change
DEM Wisdomtree Emerging Markets	0.06%	5,905	$248K	Reduce -0.0%
TRV The Travelers Cos Inc.	0.05%	910	$241K	New
LOW Lowe's Cos Inc.	0.05%	1,004	$234K	No change
CASY Casey's General Stores Inc.	0.05%	539	$234K	No change
SCHZ Schwab US Aggregate Bond ETF	0.05%	10,000	$232K	New
BAC Bank of America Corp. filed as BANK AMERICA CORP	0.05%	5,547	$231K	Reduce -14.3%
NOC Northrop Grumman Corp.	0.05%	447	$229K	Add +0.2%
VUSB Vanguard Ultra Short Bond Et	0.05%	4,487	$224K	New
NEE Nextera Energy Inc.	0.05%	3,094	$219K	No change
DHI D.R. Horton Inc.	0.05%	1,717	$218K	No change
KNF Knife River Corp.	0.05%	2,307	$208K	No change
ECL Ecolab Inc.	0.05%	807	$205K	Add +70.6%
IVV iShares Core S&P 500 ETF	0.05%	360	$202K	No change
VOO Vanguard S&P 500 ETF	0.04%	385	$198K	Add +6.9%
ETN Eaton Corp. PLC	0.04%	725	$197K	No change
MNST Monster Beverage Corp.	0.04%	3,360	$197K	No change
SCHA Schwab US Small-Cap ETF	0.04%	8,121	$190K	Add +9.9%
IVLU iShares MSCI International V	0.04%	6,276	$190K	No change
VTS Vitesse Energy Inc.	0.04%	7,438	$183K	Reduce -4.2%
MDU Mdu Resources Group Inc.	0.04%	10,666	$180K	Add +0.4%
SHEL Shell PLC-ADR	0.04%	2,426	$178K	Reduce -31.7%
GLD SPDR Gold Shares	0.04%	615	$177K	Add +19.4%
NEM Newmont Corp.	0.04%	3,603	$174K	Add +0.5%
AMT American Tower Corp.	0.04%	758	$165K	Reduce -26.2%
LPLA LPL Financial Holdings Inc.	0.04%	493	$161K	No change
ITB iShares U.S. Home Constructi	0.04%	1,644	$157K	No change
IJH iShares Core S&P Midcap ETF	0.03%	2,615	$153K	Add +0.1%
UPS United Parcel Service Class B	0.03%	1,384	$152K	Add +1.4%
TXN Texas Instruments Inc.	0.03%	845	$152K	No change
AMAT Applied Materials Inc.	0.03%	917	$133K	Reduce -21.4%
AMD Advanced Micro Devices	0.03%	1,287	$132K	Reduce -6.3%
NKE Nike Inc. Class B	0.03%	2,019	$128K	Add +63.4%
INN Summit Hotel Properties Inc.	0.03%	22,239	$120K	Reduce -8.3%
HSY The Hershey Co.	0.03%	701	$120K	Add +0.7%
VNQ Vanguard Real Estate ETF	0.03%	1,316	$119K	Add +35.3%
GM General Motors Co.	0.02%	2,365	$111K	No change
SBUX Starbucks Corp.	0.02%	1,114	$109K	Reduce -15.0%
QCOM Qualcomm Inc.	0.02%	693	$106K	Reduce -34.3%
NGD New Gold Inc.	0.01%	15,000	$56K	No change
LCTX Lineage Cell Therapeutics Inc.	0.00%	15,000	$7K	No change

Portfolio Sells Q4 2024 → Q1 2025


SIRI Sirius XM Holdings Inc.	Sold out	0.00%	−1.38
OPFI Oppfi Inc.	Sold out	0.00%	−0.98
SCHB Schwab US Broad Market ETF	Reduce -3.7%	3.29%	−0.62
NVR NVR Inc.	Reduce -2.9%	0.93%	−0.24
AAPL Apple Inc.	Reduce -5.3%	0.79%	−0.23
AXP American Express Co.	Reduce -1.9%	1.04%	−0.23
AMZN Amazon.com Inc.	Reduce -4.0%	0.74%	−0.23
SCHX Schwab US Large-Cap ETF	Reduce -2.9%	0.54%	−0.09
IWR iShares Russell Mid-Cap ETF	Reduce -0.2%	0.68%	−0.09
LLY Eli Lilly & Co.	Reduce -0.2%	4.55%	−0.08
AVGO Broadcom Inc.	Reduce -2.5%	0.15%	−0.08
NOW ServiceNow Inc.	Reduce -2.6%	0.15%	−0.07
WMT Walmart Inc.	Reduce -1.9%	0.46%	−0.06
MRK Merck & Co. Inc.	Reduce -1.4%	0.24%	−0.05
PEP Pepsico Inc.	Reduce -11.2%	0.21%	−0.05
TSM Taiwan Semiconductor-SP ADR	Reduce -3.9%	0.14%	−0.05
GEF.B Greif Inc. Class B	Reduce -9.9%	0.11%	−0.04
WFC Wells Fargo & Co.	Sold out	0.00%	−0.04
BTT BlackRock 2030 Muni TRGT TRM	Reduce -0.6%	0.63%	−0.04
TGT Target Corp.	Sold out	0.00%	−0.04
CRM Salesforce Inc.	Reduce -16.0%	0.06%	−0.04
CVX Chevron Corp.	Reduce -19.8%	0.20%	−0.03
BA The Boeing Co.	Sold out	0.00%	−0.03
MPC Marathon Petroleum Corp.	Reduce -20.8%	0.10%	−0.03
FL Foot Locker Inc.	Sold out	0.00%	−0.03
HON Honeywell International Inc.	Reduce -12.9%	0.09%	−0.03
DHR Danaher Corp.	Reduce -3.4%	0.11%	−0.03
DEO Diageo PLC-Sponsored ADR	Sold out	0.00%	−0.03
WERN Werner Enterprises Inc.	Reduce -8.2%	0.06%	−0.03
PFE Pfizer Inc.	Sold out	0.00%	−0.03
BKNG Booking Holdings Inc.	Reduce -6.9%	0.10%	−0.03
SPY SS SPDR S&P 500 ETF Trust-US	Reduce -14.6%	0.07%	−0.02
AFL Aflac Inc.	Sold out	0.00%	−0.02
BWB Bridgewater Bancshares Inc.	Reduce -2.6%	0.26%	−0.02
CSX CSX Corp.	Reduce -3.8%	0.08%	−0.02
INTU Intuit Inc.	Reduce -12.9%	0.07%	−0.02
ARWR Arrowhead Pharmaceuticals Inc.	Sold out	0.00%	−0.02
CAT Caterpillar Inc.	Reduce -2.7%	0.08%	−0.02
XLF SS Financial Select Sector	Reduce -6.4%	0.14%	−0.02
BAC Bank of America Corp.	Reduce -14.3%	0.05%	−0.02
AMAT Applied Materials Inc.	Reduce -21.4%	0.03%	−0.02
QCOM Qualcomm Inc.	Reduce -34.3%	0.02%	−0.02
SHEL Shell PLC-ADR	Reduce -31.7%	0.04%	−0.01
INN Summit Hotel Properties Inc.	Reduce -8.3%	0.03%	−0.01
MA Mastercard Inc. Class A	Reduce -8.0%	0.09%	−0.01
PG The Procter & Gamble Co.	Reduce -0.8%	0.15%	−0.01
AMD Advanced Micro Devices	Reduce -6.3%	0.03%	−0.01
UNP Union Pacific Corp.	Reduce -7.2%	0.07%	−0.01
AMT American Tower Corp.	Reduce -26.2%	0.04%	−0.01
XEL Xcel Energy Inc.	Sold out	0.00%	−0.01

Portfolio Buys Q4 2024 → Q1 2025


BOC Boston Omaha Corp. Class A	Add +80.4%	3.29%	+1.36
BRK.B Berkshire Hathaway Inc. Class B	Add +0.7%	15.23%	+1.25
EFV iShares MSCI Eafe Value ETF	Add +17.4%	4.73%	+0.83
STLA Stellantis NV	Add +259.8%	0.79%	+0.51
INTC Intel Corp.	Add +243.2%	0.71%	+0.51
FNDE Schwab Fndmntl Em MRK Eq ETF	Add +18.2%	2.84%	+0.38
SCHF Schwab Intl Equity ETF	Add +17.6%	2.36%	+0.32
DFH Dream Finders Homes Inc. Class A	Add +44.9%	0.93%	+0.21
VBR Vngrd Mrngst SL-CP Val ETF-U	Add +39.9%	1.04%	+0.18
VEA Vanguard Ftse Developed ETF	New	0.14%	+0.14
SCHW Schwab (charles) Corp.	Add +7.6%	2.78%	+0.13
SPSM SS SPDR P S&P 600 Small Cap	Add +59.2%	0.47%	+0.12
RSP Invesco S&P 500 Equal Weight	Add +24.6%	0.96%	+0.11
BSV Vanguard Short-Term Bond ETF	New	0.11%	+0.11
VYM Vanguard High DVD Yield ETF	New	0.11%	+0.11
ACI Albertsons Cos Inc. Class A	Add +8.4%	0.95%	+0.10
VTEB Vanguard Tax-Exempt Bond ETF	New	0.09%	+0.09
IEMG iShares Core MSCI Emerging	Add +7.2%	4.07%	+0.08
IEFA iShares Core MSCI Eafe ETF	Add +72.3%	0.15%	+0.06
SCHO Schwab Short-Term US Treas	New	0.06%	+0.06
BND Vanguard Total Bond Market	New	0.06%	+0.06
TRV The Travelers Cos Inc.	New	0.05%	+0.05
SCHZ Schwab US Aggregate Bond ETF	New	0.05%	+0.05
ORCL Oracle Corp.	Add +183.6%	0.09%	+0.05
VUSB Vanguard Ultra Short Bond Et	New	0.05%	+0.05
FFXDF Fairfax India Ho-Sub VTG SHS	Add +8.9%	1.06%	+0.05
IJR iShares Core S&P Small-Cap E	Add +171.5%	0.08%	+0.05
KR Kroger Co.	Add +1.8%	1.21%	+0.04
WRB WR Berkley Corp.	Add +0.0%	0.38%	+0.04
PM Philip Morris International	Add +8.2%	0.16%	+0.04
VDE Vanguard Energy ETF	Add +3.9%	1.45%	+0.03
VWO Vanguard Ftse Emerging Marke	Add +17.6%	0.31%	+0.03
VTI VG Morningstar TS MKT ETF-US	Add +44.1%	0.15%	+0.03
SCHV Schwab US Large-Cap Value	Add +14.5%	0.44%	+0.03
DE Deere & Co.	Add +54.7%	0.08%	+0.03
MMM 3M Co.	Add +5.1%	0.24%	+0.02
ECL Ecolab Inc.	Add +70.6%	0.05%	+0.02
KO The Coca-Cola Co.	Add +5.2%	0.18%	+0.02
JNJ Johnson & Johnson	Add +6.4%	0.14%	+0.02
BATRK Atlanta Braves Holdings in-C	Add +5.2%	1.22%	+0.01
FRFHF Fairfax Financial Hldgs Ltd.	Add +4.5%	7.91%	+0.01
ABT Abbott Laboratories	Add +6.7%	0.09%	+0.01
AMLP Alerian MLP ETF	Add +1.3%	2.02%	+0.01
GLD SPDR Gold Shares	Add +19.4%	0.04%	+0.01
XOM Exxon Mobil Corp.	Add +2.0%	0.24%	+0.01
EPD Enterprise Products Partners	Add +0.7%	0.78%	+0.01
NEM Newmont Corp.	Add +0.5%	0.04%	+0.01
UNH Unitedhealth Group Inc.	Add +5.7%	0.88%	+0.01
NKE Nike Inc. Class B	Add +63.4%	0.03%	+0.01
VNQ Vanguard Real Estate ETF	Add +35.3%	0.03%	+0.01

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026	173	$717.6M	LLY, BRK.B, FRFHF, EFV, IEMG
Q1 2026	165	$604.2M	BRK.B, LLY, FRFHF, EFV, IEMG
Q4 2025	163	$578.7M	BRK.B, FRFHF, EFV, LLY, IEMG
Q3 2025	156	$550.6M	BRK.B, FRFHF, EFV, IEMG, LLY
Q2 2025	151	$497.0M	BRK.B, FRFHF, EFV, IEMG, LLY
Q1 2025	151	$447.6M	BRK.B, FRFHF, EFV, LLY, IEMG
Q4 2024	154	$412.0M	BRK.B, FRFHF, LLY, IEMG, SCHB
Q3 2024	152	$425.9M	BRK.B, FRFHF, LLY, IEMG, LBTYK
Q2 2024	152	$396.6M	BRK.B, FRFHF, LLY, IEMG, SCHB
Q1 2024	154	$396.4M	BRK.B, FRFHF, LLY, IEMG, SCHB