JRM Investment Counsel, LLC

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 14, 2024), JRM Investment Counsel, LLC reported 18 stock positions worth $279.4 million. Its top holding was Berkshire Hathaway Class B (BRK.B) at 32.6% of the portfolio, followed by Avantis U.S. Equity ETF (AVUS, 14.3%) and Vanguard Ftse Developed ETF (VEA, 10.5%). Compared with Q4 2023, it sold out of 1, added to 8 and reduced 7. The biggest buy was Berkshire Hathaway Class B (BRK.B, shares +1%) and the biggest sale Avantis US Small Cap Value (AVUV, shares −23%).

Most Recent 13F
Q2 2026
Location
OMAHA, NE
CIK
0001631084
Portfolio Value
$279.4M (Q1 2024)
SEC Filing
0001631084-24-000008 ↗ filed May 14, 2024

Holdings Value

0$100.0M$200.0M$300.0M$400.0M$500.0M Q1 2024: $279.4M $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 Q2 2026

Holdings 18 stocks · $279.4M
BRK.B Berkshire Hathaway Inc. Class B 32.59% 216,523 $91.1M Add +1.2%
AVUS Avantis U.S. Equity ETF 14.28% 445,706 $39.9M Add +6.3%
VEA Vanguard Ftse Developed ETF 10.53% 586,598 $29.4M Add +23.6%
AVLV Avantis US Large Cap Value 9.19% 399,601 $25.7M Add +1.1%
AVUV Avantis US Small Cap Value 6.89% 205,372 $19.2M Reduce -23.3%
EPD Enterprise Products Partners 5.38% 514,972 $15.0M Add +1.9%
AVEM Avantis Emerging Markets Eq 5.28% 254,418 $14.7M Add +41.5%
BRK.A Berkshire Hathaway Inc. Class A 5.00% 22 $14.0M No change
AVDV Avantis Intl S/C Value ETF 3.38% 143,564 $9.5M Reduce -16.1%
BX Blackstone Inc. 2.66% 56,469 $7.4M Reduce -26.0%
SPDW Ste STR SPDR PT DW Eu ETF 2.04% 158,895 $5.7M Reduce -0.2%
AAPL Apple Inc. 1.03% 16,746 $2.9M Add +1.2%
IEFA iShares Core MSCI Eafe ETF 0.69% 25,916 $1.9M Add +6.1%
TRP TC Energy Corp. 0.40% 28,000 $1.1M Reduce -13.6%
VIG Vanguard Dividend Apprec ETF 0.39% 5,948 $1.1M Reduce -5.6%
TFLO iShares Treasury Floating Ra 0.10% 5,685 $288K Reduce -16.6%
UNP Union Pacific Corp. 0.09% 1,030 $253K No change
VTI VG Morningstar TS MKT ETF-US 0.08% 910 $237K No change
Other holdings (2): bonds, preferreds, convertibles and warrants · $23.4M (not counted above)
SecurityClassShares / PrincipalValueChange
WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A 10,967$13.4MReduce -1.4%
BANK OF AMERICA CORP (BAC 7.25 PERP L) 7.25%CNV PFD L 8,402$10.0MReduce -2.8%

Total filed on the 13F, all lines: $302.8M.

Portfolio Sells Q4 2023 → Q1 2024
AVUV Avantis US Small Cap Value Reduce -23.3% 6.89% −2.73
BX Blackstone Inc. Reduce -26.0% 2.66% −1.34
AVDV Avantis Intl S/C Value ETF Reduce -16.1% 3.38% −0.90
SCTXX Schwab Amt Tax FR MNY-Ultra Sold out 0.00% −0.14
SPDW Ste STR SPDR PT DW Eu ETF Reduce -0.2% 2.04% −0.13
TRP TC Energy Corp. Reduce -13.6% 0.40% −0.10
VIG Vanguard Dividend Apprec ETF Reduce -5.6% 0.39% −0.04
TFLO iShares Treasury Floating Ra Reduce -16.6% 0.10% −0.03

Portfolio Buys Q4 2023 → Q1 2024
BRK.B Berkshire Hathaway Inc. Class B Add +1.2% 32.59% +2.08
VEA Vanguard Ftse Developed ETF Add +23.6% 10.53% +1.44
AVEM Avantis Emerging Markets Eq Add +41.5% 5.28% +1.22
AVUS Avantis U.S. Equity ETF Add +6.3% 14.28% +0.60
AVLV Avantis US Large Cap Value Add +1.1% 9.19% +0.06
EPD Enterprise Products Partners Add +1.9% 5.38% +0.05
IEFA iShares Core MSCI Eafe ETF Add +6.1% 0.69% +0.00
AAPL Apple Inc. Add +1.2% 1.03% −0.25

Notes & Other Activity Q4 2023 → Q1 2024
WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A Reduce -1.4% 10,967 $13.4M
BANK OF AMERICA CORP (BAC 7.25 PERP L) 7.25%CNV PFD L Reduce -2.8% 8,402 $10.0M

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