Elgethun Capital Management
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 13, 2025), Elgethun Capital Management reported 151 stock positions worth $497.0 million. Its top holding was Berkshire Hathaway Class B (BRK.B) at 11.7% of the portfolio, followed by Fairfax Financial (FRFHF, 9.0%) and iShares MSCI Eafe Value ETF (EFV, 4.9%). Compared with Q1 2025, it opened 2 new positions, sold out of 2, added to 60 and reduced 43. The biggest buy was a new position in Advance Auto Parts (AAP) and the biggest sale Berkshire Hathaway Class B (BRK.B, shares −7%).
- Most Recent 13F
- Q2 2026
- Location
- SIOUX FALLS, SD
- CIK
- 0001638022
- Portfolio Value
- $497.0M (Q2 2025)
- SEC Filing
- 0001420506-25-001875 ↗ filed Aug 13, 2025
Holdings Value
Holdings 151 stocks · $497.0M
| BRK.B Berkshire Hathaway Inc. Class B | 11.65% | 119,219 | $57.9M | Reduce -6.9% |
| FRFHF Fairfax Financial Hldgs Ltd. | 9.01% | 24,782 | $44.8M | Add +1.4% |
| EFV iShares MSCI Eafe Value ETF | 4.91% | 384,036 | $24.4M | Add +6.8% |
| IEMG iShares Core MSCI Emerging | 4.22% | 349,535 | $21.0M | Add +3.5% |
| LLY Eli Lilly & Co. | 3.86% | 24,637 | $19.2M | Add +0.0% |
| SCHB Schwab US Broad Market ETF | 3.17% | 661,901 | $15.8M | Reduce -3.2% |
| FNDE Schwab Fndmntl Em MRK Eq ETF | 2.97% | 446,527 | $14.7M | Add +8.1% |
| C Citigroup Inc. | 2.96% | 172,895 | $14.7M | Add +2.0% |
| BOC Boston Omaha Corp. Class A | 2.96% | 1,047,984 | $14.7M | Add +3.8% |
| SCHW Schwab (charles) Corp. | 2.95% | 160,598 | $14.7M | Add +1.0% |
| CASH Pathward Financial Inc. | 2.79% | 175,215 | $13.9M | Add +0.7% |
| FWONA Liberty Media Corp. Class A | 2.75% | 143,968 | $13.7M | Add +1.9% |
| TBBK The Bancorp Inc. | 2.54% | 221,559 | $12.6M | Add +100.6% |
| SCHF Schwab Intl Equity ETF | 2.53% | 569,419 | $12.6M | Add +6.6% |
| MSFT Microsoft Corp. | 2.44% | 24,412 | $12.1M | Reduce -0.8% |
| DFH Dream Finders Homes Inc. Class A | 2.30% | 454,112 | $11.4M | Add +145.3% |
| LBTYK Liberty Global Ltd. Class C | 1.75% | 843,187 | $8.7M | Add +2.7% |
| CWGL Crimson Wine Group Ltd. | 1.72% | 1,555,453 | $8.6M | Add +5.2% |
| AMLP Alerian MLP ETF | 1.70% | 172,888 | $8.4M | Reduce -0.6% |
| AAP Advance Auto Parts Inc. | 1.56% | 167,284 | $7.8M | New |
| BATRK Atlanta Braves Holdings in-C | 1.37% | 145,531 | $6.8M | Add +6.8% |
| VDE Vanguard Energy ETF | 1.24% | 51,697 | $6.2M | Add +3.0% |
| FFXDF Fairfax India Ho-Sub VTG SHS | 1.15% | 309,029 | $5.7M | Add +9.1% |
| KR Kroger Co. | 1.15% | 79,608 | $5.7M | Reduce -0.8% |
| RSP Invesco S&P 500 Equal Weight | 1.14% | 31,087 | $5.6M | Add +25.3% |
| VBR Vngrd Mrngst SL-CP Val ETF-U | 1.12% | 28,515 | $5.6M | Add +14.4% |
| AXP American Express Co. | 1.10% | 17,113 | $5.5M | Reduce -1.0% |
| OXY Occidental Petroleum Corp. | 1.09% | 129,277 | $5.4M | New |
| EPD Enterprise Products Partners | 1.07% | 172,285 | $5.3M | Add +69.5% |
| ACI Albertsons Cos Inc. Class A | 0.87% | 201,558 | $4.3M | Add +4.6% |
| NVR NVR Inc. | 0.86% | 580 | $4.3M | Add +1.4% |
| AMZN Amazon.com Inc. | 0.77% | 17,429 | $3.8M | Reduce -0.1% |
| STLA Stellantis NV | 0.69% | 342,727 | $3.4M | Add +8.2% |
| UNH Unitedhealth Group Inc. | 0.67% | 10,692 | $3.3M | Add +42.9% |
| IWR iShares Russell Mid-Cap ETF | 0.66% | 35,515 | $3.3M | No change |
| AAPL Apple Inc. | 0.65% | 15,759 | $3.2M | Reduce -0.5% |
| INTC Intel Corp. | 0.60% | 132,415 | $3.0M | Reduce -4.8% |
| BTT BlackRock 2030 Muni TRGT TRM | 0.58% | 132,251 | $2.9M | Add +0.1% |
| SPSM SS SPDR P S&P 600 Small Cap | 0.47% | 55,395 | $2.4M | Add +6.6% |
| WMT Walmart Inc. | 0.46% | 23,337 | $2.3M | Reduce -0.1% |
| SCHX Schwab US Large-Cap ETF | 0.43% | 87,618 | $2.1M | Reduce -19.4% |
| SCHV Schwab US Large-Cap Value | 0.41% | 73,805 | $2.0M | Add +0.4% |
| WRB WR Berkley Corp. filed as BERKLEY W R CORP | 0.36% | 24,066 | $1.8M | Add +0.0% |
| GOOGL Alphabet Inc. Class A | 0.32% | 9,052 | $1.6M | Add +6.7% |
| VWO Vanguard Ftse Emerging Marke | 0.30% | 29,907 | $1.5M | Reduce -0.9% |
| GOOG Alphabet Inc. Class C | 0.30% | 8,268 | $1.5M | Add +2.6% |
| JPM JPMorgan Chase & Co. | 0.29% | 4,902 | $1.4M | Reduce -0.3% |
| V Visa Inc. Class A | 0.28% | 3,952 | $1.4M | No change |
| BWB Bridgewater Bancshares Inc. | 0.26% | 82,225 | $1.3M | Reduce -0.4% |
| HD Home Depot Inc. | 0.24% | 3,292 | $1.2M | No change |
| ABBV Abbvie Inc. | 0.23% | 6,218 | $1.2M | Reduce -4.3% |
| MMM 3M Co. | 0.22% | 7,112 | $1.1M | Reduce -1.6% |
| AVGO Broadcom Inc. | 0.22% | 3,880 | $1.1M | No change |
| MCD McDonald's Corp. | 0.20% | 3,400 | $993K | Add +1.2% |
| MRK Merck & Co. Inc. | 0.19% | 11,979 | $948K | Add +0.3% |
| IWM iShares Russell 2000 ETF | 0.18% | 4,129 | $891K | No change |
| NVDA Nvidia Corp. | 0.18% | 5,573 | $881K | Reduce -5.6% |
| TSM Taiwan Semiconductor-SP ADR | 0.17% | 3,823 | $866K | Reduce -0.5% |
| IVV iShares Core S&P 500 ETF | 0.17% | 1,387 | $861K | Add +285.3% |
| NOW ServiceNow Inc. | 0.17% | 830 | $853K | No change |
| XOM Exxon Mobil Corp. | 0.17% | 7,845 | $846K | Reduce -12.6% |
| PM Philip Morris International | 0.17% | 4,626 | $843K | Add +0.2% |
| PEP Pepsico Inc. | 0.17% | 6,351 | $839K | Add +1.8% |
| EFA iShares MSCI Eafe ETF | 0.16% | 9,137 | $817K | No change |
| IEFA iShares Core MSCI Eafe ETF | 0.16% | 9,636 | $804K | Add +6.4% |
| CVX Chevron Corp. | 0.16% | 5,600 | $802K | Add +6.1% |
| KO The Coca-Cola Co. | 0.16% | 11,155 | $789K | Reduce -1.6% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.15% | 1 | $729K | No change |
| VTI VG Morningstar TS MKT ETF-US | 0.14% | 2,350 | $714K | Reduce -3.3% |
| VEA Vanguard Ftse Developed ETF | 0.14% | 12,283 | $700K | Add +0.3% |
| ORCL Oracle Corp. | 0.13% | 3,012 | $658K | No change |
| XLF SS Financial Select Sector | 0.13% | 12,154 | $637K | Reduce -1.5% |
| JNJ Johnson & Johnson | 0.12% | 4,062 | $620K | Add +6.3% |
| PG The Procter & Gamble Co. | 0.12% | 3,855 | $614K | Add +0.3% |
| IWO iShares Russell 2000 Growth | 0.12% | 2,075 | $593K | Reduce -12.6% |
| BKNG Booking Holdings Inc. | 0.11% | 95 | $550K | No change |
| MPC Marathon Petroleum Corp. | 0.11% | 3,168 | $526K | No change |
| MKL Markel Group Inc. | 0.11% | 262 | $523K | Reduce -11.8% |
| SPGI S&P Global Inc. | 0.10% | 983 | $518K | Reduce -9.2% |
| URI United Rentals Inc. | 0.10% | 683 | $515K | No change |
| VYM Vanguard High DVD Yield ETF | 0.10% | 3,700 | $493K | No change |
| DHR Danaher Corp. | 0.10% | 2,432 | $480K | No change |
| ACN Accenture PLC Class A | 0.09% | 1,512 | $452K | No change |
| MA Mastercard Inc. Class A | 0.09% | 756 | $425K | No change |
| GEF.B Greif Inc. Class B | 0.08% | 6,091 | $420K | Reduce -28.4% |
| BSV Vanguard Short-Term Bond ETF | 0.08% | 5,310 | $418K | Reduce -17.8% |
| HON Honeywell International Inc. | 0.08% | 1,750 | $408K | Reduce -9.3% |
| ABT Abbott Laboratories | 0.08% | 2,969 | $404K | Reduce -1.9% |
| CAT Caterpillar Inc. | 0.08% | 1,038 | $403K | Reduce -2.7% |
| CSX CSX Corp. | 0.08% | 12,310 | $402K | No change |
| BP BP PLC-Spons ADR | 0.08% | 13,355 | $400K | Reduce -19.7% |
| INTU Intuit Inc. | 0.08% | 506 | $399K | No change |
| IJR iShares Core S&P Small-Cap E | 0.08% | 3,598 | $393K | Add +0.1% |
| VTEB Vanguard Tax-Exempt Bond ETF | 0.08% | 8,011 | $393K | No change |
| DE Deere & Co. | 0.08% | 756 | $384K | Add +0.1% |
| COST Costco Wholesale Corp. | 0.08% | 384 | $380K | No change |
| GRBK Green Brick Partners Inc. | 0.08% | 6,000 | $377K | No change |
| RTX RTX Corp. | 0.07% | 2,496 | $365K | Add +0.2% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.07% | 1,235 | $364K | Add +0.5% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.07% | 589 | $364K | No change |
Portfolio Sells Q1 2025 → Q2 2025
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -6.9% | 11.65% | −3.58 |
| KMX Carmax Inc. | Sold out | 0.00% | −1.08 |
| KVUE Kenvue Inc. | Sold out | 0.00% | −0.36 |
| AMLP Alerian MLP ETF | Reduce -0.6% | 1.70% | −0.32 |
| AAPL Apple Inc. | Reduce -0.5% | 0.65% | −0.14 |
| SCHB Schwab US Broad Market ETF | Reduce -3.2% | 3.17% | −0.12 |
| INTC Intel Corp. | Reduce -4.8% | 0.60% | −0.11 |
| SCHX Schwab US Large-Cap ETF | Reduce -19.4% | 0.43% | −0.11 |
| ABBV Abbvie Inc. | Reduce -4.3% | 0.23% | −0.07 |
| XOM Exxon Mobil Corp. | Reduce -12.6% | 0.17% | −0.07 |
| KR Kroger Co. | Reduce -0.8% | 1.15% | −0.07 |
| VUSB Vanguard Ultra Short Bond Et | Reduce -97.5% | 0.00% | −0.05 |
| BP BP PLC-Spons ADR | Reduce -19.7% | 0.08% | −0.05 |
| BND Vanguard Total Bond Market | Reduce -54.2% | 0.03% | −0.04 |
| MDLZ Mondelez International Inc. Class A | Reduce -48.3% | 0.03% | −0.03 |
| BSV Vanguard Short-Term Bond ETF | Reduce -17.8% | 0.08% | −0.03 |
| GEF.B Greif Inc. Class B | Reduce -28.4% | 0.08% | −0.03 |
| KO The Coca-Cola Co. | Reduce -1.6% | 0.16% | −0.02 |
| MMM 3M Co. | Reduce -1.6% | 0.22% | −0.02 |
| MKL Markel Group Inc. | Reduce -11.8% | 0.11% | −0.02 |
| SPGI S&P Global Inc. | Reduce -9.2% | 0.10% | −0.02 |
| ICE Intercontinental Exchange Inc. | Reduce -18.3% | 0.07% | −0.02 |
| IWO iShares Russell 2000 Growth | Reduce -12.6% | 0.12% | −0.02 |
| WERN Werner Enterprises Inc. | Reduce -5.6% | 0.05% | −0.01 |
| SCHO Schwab Short-Term US Treas | Reduce -8.7% | 0.05% | −0.01 |
| HON Honeywell International Inc. | Reduce -9.3% | 0.08% | −0.01 |
| XLF SS Financial Select Sector | Reduce -1.5% | 0.13% | −0.01 |
| ABT Abbott Laboratories | Reduce -1.9% | 0.08% | −0.01 |
| VWO Vanguard Ftse Emerging Marke | Reduce -0.9% | 0.30% | −0.01 |
| ECL Ecolab Inc. | Reduce -12.4% | 0.04% | −0.01 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -3.3% | 0.14% | −0.01 |
| VNQ Vanguard Real Estate ETF | Reduce -5.2% | 0.02% | −0.00 |
| FNDF Schwab Fndmn Intl LRG Co. ETF | Reduce -3.8% | 0.07% | −0.00 |
| IVLU iShares MSCI International V | Reduce -2.3% | 0.04% | −0.00 |
| NKE Nike Inc. Class B | Reduce -0.8% | 0.03% | 0.00 |
| WMT Walmart Inc. | Reduce -0.1% | 0.46% | +0.00 |
| TXN Texas Instruments Inc. | Reduce -0.1% | 0.04% | +0.00 |
| CAT Caterpillar Inc. | Reduce -2.7% | 0.08% | +0.00 |
| BWB Bridgewater Bancshares Inc. | Reduce -0.4% | 0.26% | +0.01 |
| JPM JPMorgan Chase & Co. | Reduce -0.3% | 0.29% | +0.02 |
| AMZN Amazon.com Inc. | Reduce -0.1% | 0.77% | +0.03 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -0.5% | 0.17% | +0.03 |
| NVDA Nvidia Corp. | Reduce -5.6% | 0.18% | +0.03 |
| AXP American Express Co. | Reduce -1.0% | 1.10% | +0.06 |
| MSFT Microsoft Corp. | Reduce -0.8% | 2.44% | +0.38 |
Portfolio Buys Q1 2025 → Q2 2025
| AAP Advance Auto Parts Inc. | New | 1.56% | +1.56 |
| DFH Dream Finders Homes Inc. Class A | Add +145.3% | 2.30% | +1.36 |
| TBBK The Bancorp Inc. | Add +100.6% | 2.54% | +1.24 |
| FRFHF Fairfax Financial Hldgs Ltd. | Add +1.4% | 9.01% | +1.10 |
| OXY Occidental Petroleum Corp. | New | 1.09% | +1.09 |
| EPD Enterprise Products Partners | Add +69.5% | 1.07% | +0.30 |
| C Citigroup Inc. | Add +2.0% | 2.96% | +0.27 |
| FWONA Liberty Media Corp. Class A | Add +1.9% | 2.75% | +0.18 |
| RSP Invesco S&P 500 Equal Weight | Add +25.3% | 1.14% | +0.18 |
| EFV iShares MSCI Eafe Value ETF | Add +6.8% | 4.91% | +0.17 |
| SCHF Schwab Intl Equity ETF | Add +6.6% | 2.53% | +0.17 |
| SCHW Schwab (charles) Corp. | Add +1.0% | 2.95% | +0.17 |
| IEMG iShares Core MSCI Emerging | Add +3.5% | 4.22% | +0.15 |
| BATRK Atlanta Braves Holdings in-C | Add +6.8% | 1.37% | +0.15 |
| IVV iShares Core S&P 500 ETF | Add +285.3% | 0.17% | +0.13 |
| FNDE Schwab Fndmntl Em MRK Eq ETF | Add +8.1% | 2.97% | +0.12 |
| FFXDF Fairfax India Ho-Sub VTG SHS | Add +9.1% | 1.15% | +0.09 |
| VBR Vngrd Mrngst SL-CP Val ETF-U | Add +14.4% | 1.12% | +0.08 |
| GOOGL Alphabet Inc. Class A | Add +6.7% | 0.32% | +0.03 |
| GOOG Alphabet Inc. Class C | Add +2.6% | 0.30% | +0.01 |
| IEFA iShares Core MSCI Eafe ETF | Add +6.4% | 0.16% | +0.01 |
| AMD Advanced Micro Devices | Add +0.1% | 0.04% | +0.01 |
| BAC Bank of America Corp. | Add +11.4% | 0.06% | +0.01 |
| PM Philip Morris International | Add +0.2% | 0.17% | +0.01 |
| IBM Intl Business Machines Corp. | Add +0.5% | 0.07% | +0.01 |
| UPS United Parcel Service Class B | Add +36.5% | 0.04% | +0.00 |
| GM General Motors Co. | Add +22.5% | 0.03% | +0.00 |
| NEM Newmont Corp. | Add +0.4% | 0.04% | +0.00 |
| VEA Vanguard Ftse Developed ETF | Add +0.3% | 0.14% | +0.00 |
| SPSM SS SPDR P S&P 600 Small Cap | Add +6.6% | 0.47% | +0.00 |
| VTS Vitesse Energy Inc. | Add +26.4% | 0.04% | +0.00 |
| VOO Vanguard S&P 500 ETF | Add +0.5% | 0.04% | 0.00 |
| RTX RTX Corp. | Add +0.2% | 0.07% | −0.00 |
| SCHA Schwab US Small-Cap ETF | Add +1.2% | 0.04% | −0.00 |
| IJH iShares Core S&P Midcap ETF | Add +1.3% | 0.03% | −0.00 |
| DE Deere & Co. | Add +0.1% | 0.08% | −0.00 |
| AMT American Tower Corp. | Add +0.1% | 0.03% | −0.00 |
| HSY The Hershey Co. | Add +0.9% | 0.02% | −0.00 |
| INN Summit Hotel Properties Inc. | Add +0.8% | 0.02% | −0.00 |
| MDU Mdu Resources Group Inc. | Add +0.4% | 0.04% | −0.00 |
| IJR iShares Core S&P Small-Cap E | Add +0.1% | 0.08% | −0.00 |
| SYY Sysco Corp. | Add +0.7% | 0.06% | −0.01 |
| NOC Northrop Grumman Corp. | Add +0.2% | 0.05% | −0.01 |
| JNJ Johnson & Johnson | Add +6.3% | 0.12% | −0.02 |
| PG The Procter & Gamble Co. | Add +0.3% | 0.12% | −0.02 |
| SCHV Schwab US Large-Cap Value | Add +0.4% | 0.41% | −0.03 |
| WRB WR Berkley Corp. | Add +0.0% | 0.36% | −0.03 |
| MCD McDonald's Corp. | Add +1.2% | 0.20% | −0.03 |
| CVX Chevron Corp. | Add +6.1% | 0.16% | −0.04 |
| PEP Pepsico Inc. | Add +1.8% | 0.17% | −0.04 |
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 |