JRM Investment Counsel, LLC

In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 14, 2024), JRM Investment Counsel, LLC reported 18 stock positions worth $272.9 million. Its top holding was Berkshire Hathaway Class B (BRK.B) at 32.1% of the portfolio, followed by Avantis U.S. Equity ETF (AVUS, 14.5%) and Vanguard Ftse Developed ETF (VEA, 10.6%). Compared with Q2 2024, it sold out of 1 and reduced 14. The biggest sale was Enterprise Products Partners (EPD, shares −15%).

Most Recent 13F
Q2 2026
Location
OMAHA, NE
CIK
0001631084
Portfolio Value
$272.9M (Q3 2024)
SEC Filing
0001631084-24-000011 ↗ filed Nov 14, 2024

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 $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 · $272.9M
BRK.B Berkshire Hathaway Inc. Class B 32.14% 190,520 $87.7M Reduce -13.6%
AVUS Avantis U.S. Equity ETF 14.46% 414,685 $39.5M Reduce -6.6%
VEA Vanguard Ftse Developed ETF 10.65% 550,141 $29.1M Reduce -3.3%
AVLV Avantis US Large Cap Value 10.08% 417,879 $27.5M Reduce -8.0%
AVEM Avantis Emerging Markets Eq 6.02% 254,273 $16.4M Reduce -2.6%
AVUV Avantis US Small Cap Value 5.68% 161,559 $15.5M Reduce -10.9%
BRK.A Berkshire Hathaway Inc. Class A 5.57% 22 $15.2M No change
EPD Enterprise Products Partners 4.93% 462,428 $13.5M Reduce -14.6%
AVDV Avantis Intl S/C Value ETF 3.54% 136,629 $9.7M Reduce -5.4%
BX Blackstone Inc. 2.38% 42,446 $6.5M Reduce -16.6%
SPDW Ste STR SPDR PT DW Eu ETF 1.51% 109,342 $4.1M Reduce -29.8%
AAPL Apple Inc. 1.29% 15,133 $3.5M Reduce -9.6%
IEFA iShares Core MSCI Eafe ETF 0.65% 22,735 $1.8M Reduce -15.7%
TRP TC Energy Corp. 0.47% 27,000 $1.3M No change
VIG Vanguard Dividend Apprec ETF 0.36% 4,961 $983K Reduce -3.7%
VTI VG Morningstar TS MKT ETF-US 0.09% 910 $258K No change
UNP Union Pacific Corp. 0.09% 1,030 $254K No change
TFLO iShares Treasury Floating Ra 0.08% 4,531 $229K Reduce -22.4%
Other holdings (2): bonds, preferreds, convertibles and warrants · $17.5M (not counted above)
SecurityClassShares / PrincipalValueChange
BANK OF AMERICA CORP (BAC 7.25 PERP L) 7.25%CNV PFD L 6,902$8.8MReduce -7.3%
WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A 6,791$8.7MReduce -22.0%

Total filed on the 13F, all lines: $290.4M.

Portfolio Sells Q2 2024 → Q3 2024
EPD Enterprise Products Partners Reduce -14.6% 4.93% −0.73
SPDW Ste STR SPDR PT DW Eu ETF Reduce -29.8% 1.51% −0.47
BRK.B Berkshire Hathaway Inc. Class B Reduce -13.6% 32.14% −0.22
AVLV Avantis US Large Cap Value Reduce -8.0% 10.08% −0.22
AVUV Avantis US Small Cap Value Reduce -10.9% 5.68% −0.19
IEFA iShares Core MSCI Eafe ETF Reduce -15.7% 0.65% −0.06
TFLO iShares Treasury Floating Ra Reduce -22.4% 0.08% −0.02
SCTXX Schwab Amt Tax FR MNY-Ultra Sold out 0.00% −0.02
AVUS Avantis U.S. Equity ETF Reduce -6.6% 14.46% +0.01
AAPL Apple Inc. Reduce -9.6% 1.29% +0.02
VIG Vanguard Dividend Apprec ETF Reduce -3.7% 0.36% +0.02
BX Blackstone Inc. Reduce -16.6% 2.38% +0.11
AVDV Avantis Intl S/C Value ETF Reduce -5.4% 3.54% +0.15
AVEM Avantis Emerging Markets Eq Reduce -2.6% 6.02% +0.27
VEA Vanguard Ftse Developed ETF Reduce -3.3% 10.65% +0.51

Portfolio Buys Q2 2024 → Q3 2024
None this quarter.

Notes & Other Activity Q2 2024 → Q3 2024
BANK OF AMERICA CORP (BAC 7.25 PERP L) 7.25%CNV PFD L Reduce -7.3% 6,902 $8.8M
WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A Reduce -22.0% 6,791 $8.7M

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