JRM Investment Counsel, LLC

Name: JRM Investment Counsel, LLC 13F holdings, Q1 2026
Creator: JRM Investment Counsel, LLC
Published: 2026-05-14

Q2 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 14, 2026), JRM Investment Counsel, LLC reported 19 stock positions worth $372.7 million. Its top holding was Berkshire Hathaway Class B (BRK.B) at 26.1% of the portfolio, followed by Avantis US Large Cap Value (AVLV, 11.5%) and Vanguard Ftse Developed ETF (VEA, 10.9%). Compared with Q4 2025, it opened 1 new position, sold out of 1, added to 9 and reduced 4. The biggest buy was a new position in Sturm Ruger (RGR) and the biggest sale Avantis U.S. Equity ETF (AVUS, shares −3%).

Most Recent 13F: Q2 2026
Location: OMAHA, NE
CIK: 0001631084
Portfolio Value: $372.7M (Q1 2026)
SEC Filing: 0001631084-26-000002 ↗ filed May 14, 2026

Holdings Value

Holdings 19 stocks · $372.7M


BRK.B Berkshire Hathaway Inc. Class B	26.08%	202,868	$97.2M	Add +0.9%
AVLV Avantis US Large Cap Value	11.51%	532,169	$42.9M	Add +6.6%
VEA Vanguard Ftse Developed ETF	10.87%	631,968	$40.5M	Add +0.0%
AVUS Avantis U.S. Equity ETF	9.26%	310,296	$34.5M	Reduce -3.5%
AVEM Avantis Emerging Markets Eq	7.28%	336,701	$27.1M	Add +6.3%
AVUV Avantis US Small Cap Value	6.12%	206,412	$22.8M	Add +18.0%
AVDE Avantis International Equity	5.83%	256,291	$21.7M	Add +7.8%
EPD Enterprise Products Partners	5.62%	553,284	$20.9M	Add +2.2%
AVDV Avantis Intl S/C Value ETF	4.61%	171,919	$17.2M	Add +9.8%
RGR Sturm Ruger & Co. Inc.	4.27%	397,000	$15.9M	New
BRK.A Berkshire Hathaway Inc. Class A	4.24%	22	$15.8M	No change
PAGP Plains GP Holdings LP	1.66%	255,000	$6.2M	Add +11.3%
SPDW Ste STR SPDR PT DW Eu ETF	1.10%	90,103	$4.1M	No change
TRP TC Energy Corp.	0.45%	27,000	$1.7M	No change
AAPL Apple Inc.	0.38%	5,591	$1.4M	Reduce -14.6%
IEFA iShares Core MSCI Eafe ETF	0.30%	12,461	$1.1M	Reduce -25.1%
VIG Vanguard Dividend Apprec ETF	0.25%	4,416	$950K	No change
BX Blackstone Inc.	0.09%	2,786	$320K	Reduce -5.7%
UNP Union Pacific Corp.	0.08%	1,265	$307K	No change

Other holdings (2): bonds, preferreds, convertibles and warrants · $2.7M (not counted above)

Security	Class	Shares / Principal	Value	Change
WELLS FARGO & COMPANY (WFC 7.5 PERP L)	PERP PFD CNV A	1,850	$2.1M	No change
BANK OF AMERICA CORP (BAC 7.25 PERP L)	7.25%CNV PFD L	461	$549K	Reduce -1.3%

Total filed on the 13F, all lines: $375.4M.

Portfolio Sells Q4 2025 → Q1 2026


AVUS Avantis U.S. Equity ETF	Reduce -3.5%	9.26%	−1.22
CG The Carlyle Group Inc.	Sold out	0.00%	−0.95
AAPL Apple Inc.	Reduce -14.6%	0.38%	−0.14
IEFA iShares Core MSCI Eafe ETF	Reduce -25.1%	0.30%	−0.13
BX Blackstone Inc.	Reduce -5.7%	0.09%	−0.05

Portfolio Buys Q4 2025 → Q1 2026


RGR Sturm Ruger & Co. Inc.	New	4.27%	+4.27
AVUV Avantis US Small Cap Value	Add +18.0%	6.12%	+0.92
EPD Enterprise Products Partners	Add +2.2%	5.62%	+0.56
AVLV Avantis US Large Cap Value	Add +6.6%	11.51%	+0.48
PAGP Plains GP Holdings LP	Add +11.3%	1.66%	+0.38
AVDV Avantis Intl S/C Value ETF	Add +9.8%	4.61%	+0.32
AVEM Avantis Emerging Markets Eq	Add +6.3%	7.28%	+0.16
AVDE Avantis International Equity	Add +7.8%	5.83%	+0.13
VEA Vanguard Ftse Developed ETF	Add +0.0%	10.87%	−0.64
BRK.B Berkshire Hathaway Inc. Class B	Add +0.9%	26.08%	−3.40

Notes & Other Activity Q4 2025 → Q1 2026


BANK OF AMERICA CORP (BAC 7.25 PERP L)	7.25%CNV PFD L	Reduce -1.3%	461	$549K

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

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026	19	$410.5M	BRK.B, AVLV, VEA, AVUS, AVEM
Q1 2026	19	$372.7M	BRK.B, AVLV, VEA, AVUS, AVEM
Q4 2025	19	$342.9M	BRK.B, VEA, AVLV, AVUS, AVEM
Q3 2025	19	$331.0M	BRK.B, VEA, AVLV, AVUS, AVEM
Q2 2025	18	$307.8M	BRK.B, VEA, AVLV, AVUS, AVEM
Q1 2025	18	$281.5M	BRK.B, AVLV, VEA, AVUS, BRK.A
Q4 2024	18	$268.2M	BRK.B, AVUS, AVLV, VEA, AVUV
Q3 2024	18	$272.9M	BRK.B, AVUS, VEA, AVLV, AVEM
Q2 2024	19	$277.2M	BRK.B, AVUS, AVLV, VEA, AVUV
Q1 2024	18	$279.4M	BRK.B, AVUS, VEA, AVLV, AVUV