JRM Investment Counsel, LLC

In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 12, 2024), JRM Investment Counsel, LLC reported 19 stock positions worth $277.2 million. Its top holding was Berkshire Hathaway Class B (BRK.B) at 32.4% of the portfolio, followed by Avantis U.S. Equity ETF (AVUS, 14.4%) and Avantis US Large Cap Value (AVLV, 10.3%). Compared with Q1 2024, it opened 1 new position, added to 7 and reduced 7. The biggest buy was Avantis US Large Cap Value (AVLV, shares +14%) and the biggest sale Avantis US Small Cap Value (AVUV, shares −12%).

Most Recent 13F
Q2 2026
Location
OMAHA, NE
CIK
0001631084
Portfolio Value
$277.2M (Q2 2024)
SEC Filing
0001631084-24-000010 ↗ filed Aug 12, 2024

Holdings Value

0$100.0M$200.0M$300.0M$400.0M$500.0M Q1 2024: $279.4M Q1 2024 Q2 2024: $277.2M $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 19 stocks · $277.2M
BRK.B Berkshire Hathaway Inc. Class B 32.36% 220,521 $89.7M Add +1.9%
AVUS Avantis U.S. Equity ETF 14.45% 444,006 $40.0M Reduce -0.4%
AVLV Avantis US Large Cap Value 10.30% 454,425 $28.6M Add +13.7%
VEA Vanguard Ftse Developed ETF 10.14% 568,738 $28.1M Reduce -3.0%
AVUV Avantis US Small Cap Value 5.87% 181,395 $16.3M Reduce -11.7%
AVEM Avantis Emerging Markets Eq 5.75% 260,945 $15.9M Add +2.6%
EPD Enterprise Products Partners 5.66% 541,753 $15.7M Add +5.2%
BRK.A Berkshire Hathaway Inc. Class A 4.86% 22 $13.5M No change
AVDV Avantis Intl S/C Value ETF 3.38% 144,415 $9.4M Add +0.6%
BX Blackstone Inc. 2.27% 50,917 $6.3M Reduce -9.8%
SPDW Ste STR SPDR PT DW Eu ETF 1.97% 155,784 $5.5M Reduce -2.0%
AAPL Apple Inc. 1.27% 16,746 $3.5M No change
IEFA iShares Core MSCI Eafe ETF 0.71% 26,970 $2.0M Add +4.1%
TRP TC Energy Corp. 0.37% 27,000 $1.0M Reduce -3.6%
VIG Vanguard Dividend Apprec ETF 0.34% 5,153 $941K Reduce -13.4%
TFLO iShares Treasury Floating Ra 0.11% 5,839 $296K Add +2.7%
VTI VG Morningstar TS MKT ETF-US 0.09% 910 $243K No change
UNP Union Pacific Corp. 0.08% 1,030 $233K No change
SCTXX Schwab Amt Tax FR MNY-Ultra 0.02% 45,843 $46K New
Other holdings (2): bonds, preferreds, convertibles and warrants · $19.3M (not counted above)
SecurityClassShares / PrincipalValueChange
WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A 8,710$10.4MReduce -20.6%
BANK OF AMERICA CORP (BAC 7.25 PERP L) 7.25%CNV PFD L 7,444$8.9MReduce -11.4%

Total filed on the 13F, all lines: $296.5M.

Portfolio Sells Q1 2024 → Q2 2024
AVUV Avantis US Small Cap Value Reduce -11.7% 5.87% −1.02
VEA Vanguard Ftse Developed ETF Reduce -3.0% 10.14% −0.39
BX Blackstone Inc. Reduce -9.8% 2.27% −0.38
SPDW Ste STR SPDR PT DW Eu ETF Reduce -2.0% 1.97% −0.07
VIG Vanguard Dividend Apprec ETF Reduce -13.4% 0.34% −0.05
TRP TC Energy Corp. Reduce -3.6% 0.37% −0.03
AVUS Avantis U.S. Equity ETF Reduce -0.4% 14.45% +0.17

Portfolio Buys Q1 2024 → Q2 2024
AVLV Avantis US Large Cap Value Add +13.7% 10.30% +1.11
AVEM Avantis Emerging Markets Eq Add +2.6% 5.75% +0.47
EPD Enterprise Products Partners Add +5.2% 5.66% +0.28
IEFA iShares Core MSCI Eafe ETF Add +4.1% 0.71% +0.02
SCTXX Schwab Amt Tax FR MNY-Ultra New 0.02% +0.02
TFLO iShares Treasury Floating Ra Add +2.7% 0.11% +0.00
AVDV Avantis Intl S/C Value ETF Add +0.6% 3.38% −0.00
BRK.B Berkshire Hathaway Inc. Class B Add +1.9% 32.36% −0.23

Notes & Other Activity Q1 2024 → Q2 2024
WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A Reduce -20.6% 8,710 $10.4M
BANK OF AMERICA CORP (BAC 7.25 PERP L) 7.25%CNV PFD L Reduce -11.4% 7,444 $8.9M

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