JRM Investment Counsel, LLC

In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 13, 2026), JRM Investment Counsel, LLC reported 19 stock positions worth $410.5 million. Its top holding was Berkshire Hathaway Class B (BRK.B) at 24.7% of the portfolio, followed by Avantis US Large Cap Value (AVLV, 12.0%) and Vanguard Ftse Developed ETF (VEA, 10.7%). Compared with Q1 2026, it added to 7 and reduced 8. The biggest buy was Sturm Ruger (RGR, shares +54%) and the biggest sale Berkshire Hathaway Class B (BRK.B, shares −0%).

Most Recent 13F
Q2 2026
Location
OMAHA, NE
CIK
0001631084
Portfolio Value
$410.5M (Q2 2026)
SEC Filing
0001631084-26-000003 ↗ filed Aug 13, 2026

Holdings Value

0$100.0M$200.0M$300.0M$400.0M$500.0M Q1 2024: $279.4M Q1 2024 Q2 2024: $277.2M Q2 2024 Q3 2024: $272.9M Q3 2024 Q4 2024: $268.2M Q4 2024 Q1 2025: $281.5M Q1 2025 Q2 2025: $307.8M Q2 2025 Q3 2025: $331.0M Q3 2025 Q4 2025: $342.9M Q4 2025 Q1 2026: $372.7M Q1 2026 Q2 2026: $410.5M $410.5M Q2 2026

Holdings 19 stocks · $410.5M
BRK.B Berkshire Hathaway Inc. Class B 24.68% 202,508 $101.3M Reduce -0.2%
AVLV Avantis US Large Cap Value 12.04% 541,727 $49.4M Add +1.8%
VEA Vanguard Ftse Developed ETF 10.74% 618,971 $44.1M Reduce -2.1%
AVUS Avantis U.S. Equity ETF 9.40% 301,331 $38.6M Reduce -2.9%
AVEM Avantis Emerging Markets Eq 7.94% 337,757 $32.6M Add +0.3%
AVUV Avantis US Small Cap Value 6.56% 215,990 $26.9M Add +4.6%
AVDE Avantis International Equity 5.65% 260,135 $23.2M Add +1.5%
RGR Sturm Ruger & Co. Inc. 5.62% 610,000 $23.1M Add +53.6%
EPD Enterprise Products Partners 4.92% 549,345 $20.2M Reduce -0.7%
AVDV Avantis Intl S/C Value ETF 4.40% 175,220 $18.1M Add +1.9%
BRK.A Berkshire Hathaway Inc. Class A 4.01% 22 $16.5M No change
PAGP Plains GP Holdings LP 1.51% 255,000 $6.2M No change
SPDW Ste STR SPDR PT DW Eu ETF 1.03% 83,898 $4.2M Reduce -6.9%
TRP TC Energy Corp. 0.44% 27,000 $1.8M No change
AAPL Apple Inc. 0.35% 4,971 $1.4M Reduce -11.1%
IEFA iShares Core MSCI Eafe ETF 0.29% 12,481 $1.2M Add +0.2%
VIG Vanguard Dividend Apprec ETF 0.25% 4,344 $1.0M Reduce -1.6%
UNP Union Pacific Corp. 0.08% 1,265 $344K No change
BX Blackstone Inc. 0.08% 2,741 $323K Reduce -1.6%
Other holdings (2): bonds, preferreds, convertibles and warrants · $2.8M (not counted above)
SecurityClassShares / PrincipalValueChange
WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A 1,881$2.2MAdd +1.7%
BANK OF AMERICA CORP (BAC 7.25 PERP L) 7.25%CNV PFD L 466$584KAdd +1.1%

Total filed on the 13F, all lines: $413.3M.

Portfolio Sells Q1 2026 → Q2 2026
BRK.B Berkshire Hathaway Inc. Class B Reduce -0.2% 24.68% −1.40
EPD Enterprise Products Partners Reduce -0.7% 4.92% −0.70
VEA Vanguard Ftse Developed ETF Reduce -2.1% 10.74% −0.12
SPDW Ste STR SPDR PT DW Eu ETF Reduce -6.9% 1.03% −0.07
AAPL Apple Inc. Reduce -11.1% 0.35% −0.03
BX Blackstone Inc. Reduce -1.6% 0.08% −0.01
VIG Vanguard Dividend Apprec ETF Reduce -1.6% 0.25% −0.00
AVUS Avantis U.S. Equity ETF Reduce -2.9% 9.40% +0.14

Portfolio Buys Q1 2026 → Q2 2026
RGR Sturm Ruger & Co. Inc. Add +53.6% 5.62% +1.35
AVEM Avantis Emerging Markets Eq Add +0.3% 7.94% +0.66
AVLV Avantis US Large Cap Value Add +1.8% 12.04% +0.53
AVUV Avantis US Small Cap Value Add +4.6% 6.56% +0.45
IEFA iShares Core MSCI Eafe ETF Add +0.2% 0.29% −0.01
AVDE Avantis International Equity Add +1.5% 5.65% −0.18
AVDV Avantis Intl S/C Value ETF Add +1.9% 4.40% −0.21

Notes & Other Activity Q1 2026 → Q2 2026
WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A Add +1.7% 1,881 $2.2M
BANK OF AMERICA CORP (BAC 7.25 PERP L) 7.25%CNV PFD L Add +1.1% 466 $584K

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

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 19$410.5MBRK.B, AVLV, VEA, AVUS, AVEM
Q1 2026 19$372.7MBRK.B, AVLV, VEA, AVUS, AVEM
Q4 2025 19$342.9MBRK.B, VEA, AVLV, AVUS, AVEM
Q3 2025 19$331.0MBRK.B, VEA, AVLV, AVUS, AVEM
Q2 2025 18$307.8MBRK.B, VEA, AVLV, AVUS, AVEM
Q1 2025 18$281.5MBRK.B, AVLV, VEA, AVUS, BRK.A
Q4 2024 18$268.2MBRK.B, AVUS, AVLV, VEA, AVUV
Q3 2024 18$272.9MBRK.B, AVUS, VEA, AVLV, AVEM
Q2 2024 19$277.2MBRK.B, AVUS, AVLV, VEA, AVUV
Q1 2024 18$279.4MBRK.B, AVUS, VEA, AVLV, AVUV