Pecaut

SIOUX CITY, IAfiles as PECAUT & CO.

$328m in 65 US stocks at the end of 30 June 2026. The top 10 are 59.2% of the money. It changed about 4.5% of the portfolio this quarter.

Value

$328m

Stocks

Top 10 share

59.2%

Turnover

4.5%

What changed this quarter

New

Bought for the first time this quarter.

None this quarter.

Added

Bought more of a stock they already held.

Berkshire HathawayBRK-B
8.9% of the fund
+2%
Vanguard Scottsdale FDSVCSH
7.6% of the fund
+2%
Spdr Series TrustSPYV
3.4% of the fund
+4%
Listed FDS TRINFL
2.3% of the fund
+2%
Spdr Series TrustBIL
1.1% of the fund
+6%
Hawaiian Electric IndustriesHE
0.2% of the fund
+3%

Cut

Sold some of their stake.

AlphabetGOOG
5.7% of the fund
-2%
Berkshire Hathaway INC DELBRK-A
1.8% of the fund
-20%
AutonationAN
1.3% of the fund
-7%
Lowe's CompaniesLOW
1.2% of the fund
-6%
White Mountains Insurance GroupWTM
0.7% of the fund
-3%
J P Morgan Exchange Traded FJMST
0.6% of the fund
-5%
Intercontinental ExchangeICE
0.6% of the fund
-5%
BWX TechnologiesBWXT
0.5% of the fund
-2%
Union PacificUNP
0.3% of the fund
-6%
Vanguard World FDESGV
0.3% of the fund
-3%
Floor & Decor HoldingsFND
0.2% of the fund
-4%

Sold out

Sold their entire stake.

NikeNKE
-100%

Holdings

Berkshire HathawayBRK-B
Share
8.9%
Value
$29m
Shares
58,483
+2%
Spdr Series TrustBILS
Share
7.9%
Value
$26m
Shares
259,692
Held
Vanguard Scottsdale FDSVCSH
Share
7.6%
Value
$25m
Shares
316,064
+2%
IsharesEMXC
Share
6.3%
Value
$21m
Shares
202,039
Held
AlphabetGOOG
Share
5.7%
Value
$19m
Shares
52,934
-2%
Spdr Series TrustSPYG
Share
5.7%
Value
$19m
Shares
155,879
Held
Ishares TRSGOV
Share
5.0%
Value
$16m
Shares
163,019
Held
Spdr Index SHS FDSSPDW
Share
4.6%
Value
$15m
Shares
298,409
Held
Vanguard Specialized FundsVIG
Share
4.2%
Value
$14m
Shares
57,622
Held
Spdr Series TrustSPYV
Share
3.4%
Value
$11m
Shares
185,397
+4%
AppleAAPL
Share
3.1%
Value
$10m
Shares
35,616
Held
First TR Exchange-Traded FDGRID
Share
2.9%
Value
$9m
Shares
49,362
Held
Texas Pacific LandTPL
Share
2.7%
Value
$9m
Shares
20,556
Held
Listed FDS TRINFL
Share
2.3%
Value
$8m
Shares
152,906
+2%
First TR Exchange Traded FDAIRR
Share
2.2%
Value
$7m
Shares
54,856
Held
Spdr Series TrustSPMD
Share
2.2%
Value
$7m
Shares
105,452
Held
Costco WholesaleCOST
Share
2.0%
Value
$7m
Shares
7,077
Held
Berkshire Hathaway INC DELBRK-A
Share
1.8%
Value
$6m
Shares
8
-20%
AutonationAN
Share
1.3%
Value
$4m
Shares
23,570
-7%
Knife RiverKNF
Share
1.3%
Value
$4m
Shares
50,140
Held
Lowe's CompaniesLOW
Share
1.2%
Value
$4m
Shares
18,567
-6%
Spdr Series TrustSPSM
Share
1.2%
Value
$4m
Shares
66,143
Held
Spdr Series TrustBIL
Share
1.1%
Value
$4m
Shares
38,396
+6%
MicrosoftMSFT
Share
0.9%
Value
$3m
Shares
8,301
Held
WaterBridge InfrastructureWBI
Share
0.9%
Value
$3m
Shares
87,000
Held
Builders FirstSourceBLDR
Share
0.7%
Value
$2m
Shares
26,865
Held
White Mountains Insurance GroupWTM
Share
0.7%
Value
$2m
Shares
1,142
-3%
Vanguard Index FDSVUG
Share
0.7%
Value
$2m
Shares
27,432
Held
Vanguard Tax-Managed FDSVEA
Share
0.7%
Value
$2m
Shares
30,802
Held
J P Morgan Exchange Traded FJMST
Share
0.6%
Value
$2m
Shares
41,785
-5%
StarbucksSBUX
Share
0.6%
Value
$2m
Shares
20,700
Held
Caseys General StoresCASY
Share
0.6%
Value
$2m
Shares
2,600
Held
Intercontinental ExchangeICE
Share
0.6%
Value
$2m
Shares
16,444
-5%
World Gold TRGLDM
Share
0.5%
Value
$2m
Shares
22,268
Held
American ExpressAXP
Share
0.5%
Value
$2m
Shares
5,015
Held
United RentalsURI
Share
0.5%
Value
$2m
Shares
1,403
Held
BWX TechnologiesBWXT
Share
0.5%
Value
$2m
Shares
7,935
-2%
NvidiaNVDA
Share
0.5%
Value
$1m
Shares
7,391
Held
Vanguard Index FDSVTV
Share
0.4%
Value
$1m
Shares
6,454
Held
WalmartWMT
Share
0.4%
Value
$1m
Shares
12,123
Held
Wheaton Precious MetalsWPM
Share
0.4%
Value
$1m
Shares
11,550
Held
LandBridgeLB
Share
0.4%
Value
$1m
Shares
15,894
Held
Union PacificUNP
Share
0.3%
Value
$1m
Shares
4,139
-6%
Liberty MediaFWONA
Share
0.3%
Value
$1m
Shares
12,158
Held
Vanguard Index FDSVB
Share
0.3%
Value
$1m
Shares
3,367
Held
Vanguard Index FDSVO
Share
0.3%
Value
$993,881
Shares
12,336
Held
Vanguard World FDESGV
Share
0.3%
Value
$941,294
Shares
7,118
-3%
Mesabi TrustMSB
Share
0.3%
Value
$859,264
Shares
33,963
Held
Floor & Decor HoldingsFND
Share
0.2%
Value
$813,232
Shares
13,700
-4%
Natural Resource Partners LPNRP
Share
0.2%
Value
$783,275
Shares
8,075
Held
TidewaterTDW
Share
0.2%
Value
$632,985
Shares
9,500
Held
Source CapitalXSORX
Share
0.2%
Value
$625,241
Shares
13,601
Held
Hawaiian Electric IndustriesHE
Share
0.2%
Value
$558,789
Shares
41,300
+3%
Johnson & JohnsonJNJ
Share
0.2%
Value
$540,956
Shares
2,130
Held
Ishares TRESGD
Share
0.1%
Value
$460,719
Shares
4,481
Held
LSB IndustriesLXU
Share
0.1%
Value
$394,565
Shares
36,500
Held
Canadian National RailwayCNI
Share
<0.1%
Value
$320,040
Shares
2,684
Held
Ishares TRESGU
Share
<0.1%
Value
$307,504
Shares
1,879
Held
State STR Spdr S&P 500 ETF TSPY
Share
<0.1%
Value
$291,451
Shares
390
Held
Ishares TRIWF
Share
<0.1%
Value
$280,525
Shares
2,259
Held
Ishares TRIWD
Share
<0.1%
Value
$280,279
Shares
1,156
Held
RENN FundRCG
Share
<0.1%
Value
$278,404
Shares
93,099
Held
Sprott Asset Management LPPHYS
Share
<0.1%
Value
$262,479
Shares
8,700
Held
OR RoyaltiesOR
Share
<0.1%
Value
$253,040
Shares
8,000
Held
Triple Flag Precious MetalsTFPM
Share
<0.1%
Value
$209,790
Shares
7,000
Held

Company	Share of fund	Value	Shares	Change
Berkshire HathawayBRK-B	8.9%	$29m	58,483	+2%
Spdr Series TrustBILS	7.9%	$26m	259,692	Held
Vanguard Scottsdale FDSVCSH	7.6%	$25m	316,064	+2%
IsharesEMXC	6.3%	$21m	202,039	Held
AlphabetGOOG	5.7%	$19m	52,934	-2%
Spdr Series TrustSPYG	5.7%	$19m	155,879	Held
Ishares TRSGOV	5.0%	$16m	163,019	Held
Spdr Index SHS FDSSPDW	4.6%	$15m	298,409	Held
Vanguard Specialized FundsVIG	4.2%	$14m	57,622	Held
Spdr Series TrustSPYV	3.4%	$11m	185,397	+4%
AppleAAPL	3.1%	$10m	35,616	Held
First TR Exchange-Traded FDGRID	2.9%	$9m	49,362	Held
Texas Pacific LandTPL	2.7%	$9m	20,556	Held
Listed FDS TRINFL	2.3%	$8m	152,906	+2%
First TR Exchange Traded FDAIRR	2.2%	$7m	54,856	Held
Spdr Series TrustSPMD	2.2%	$7m	105,452	Held
Costco WholesaleCOST	2.0%	$7m	7,077	Held
Berkshire Hathaway INC DELBRK-A	1.8%	$6m	8	-20%
AutonationAN	1.3%	$4m	23,570	-7%
Knife RiverKNF	1.3%	$4m	50,140	Held
Lowe's CompaniesLOW	1.2%	$4m	18,567	-6%
Spdr Series TrustSPSM	1.2%	$4m	66,143	Held
Spdr Series TrustBIL	1.1%	$4m	38,396	+6%
MicrosoftMSFT	0.9%	$3m	8,301	Held
WaterBridge InfrastructureWBI	0.9%	$3m	87,000	Held
Builders FirstSourceBLDR	0.7%	$2m	26,865	Held
White Mountains Insurance GroupWTM	0.7%	$2m	1,142	-3%
Vanguard Index FDSVUG	0.7%	$2m	27,432	Held
Vanguard Tax-Managed FDSVEA	0.7%	$2m	30,802	Held
J P Morgan Exchange Traded FJMST	0.6%	$2m	41,785	-5%
StarbucksSBUX	0.6%	$2m	20,700	Held
Caseys General StoresCASY	0.6%	$2m	2,600	Held
Intercontinental ExchangeICE	0.6%	$2m	16,444	-5%
World Gold TRGLDM	0.5%	$2m	22,268	Held
American ExpressAXP	0.5%	$2m	5,015	Held
United RentalsURI	0.5%	$2m	1,403	Held
BWX TechnologiesBWXT	0.5%	$2m	7,935	-2%
NvidiaNVDA	0.5%	$1m	7,391	Held
Vanguard Index FDSVTV	0.4%	$1m	6,454	Held
WalmartWMT	0.4%	$1m	12,123	Held
Wheaton Precious MetalsWPM	0.4%	$1m	11,550	Held
LandBridgeLB	0.4%	$1m	15,894	Held
Union PacificUNP	0.3%	$1m	4,139	-6%
Liberty MediaFWONA	0.3%	$1m	12,158	Held
Vanguard Index FDSVB	0.3%	$1m	3,367	Held
Vanguard Index FDSVO	0.3%	$993,881	12,336	Held
Vanguard World FDESGV	0.3%	$941,294	7,118	-3%
Mesabi TrustMSB	0.3%	$859,264	33,963	Held
Floor & Decor HoldingsFND	0.2%	$813,232	13,700	-4%
Natural Resource Partners LPNRP	0.2%	$783,275	8,075	Held
TidewaterTDW	0.2%	$632,985	9,500	Held
Source CapitalXSORX	0.2%	$625,241	13,601	Held
Hawaiian Electric IndustriesHE	0.2%	$558,789	41,300	+3%
Johnson & JohnsonJNJ	0.2%	$540,956	2,130	Held
Ishares TRESGD	0.1%	$460,719	4,481	Held
LSB IndustriesLXU	0.1%	$394,565	36,500	Held
Canadian National RailwayCNI	<0.1%	$320,040	2,684	Held
Ishares TRESGU	<0.1%	$307,504	1,879	Held
State STR Spdr S&P 500 ETF TSPY	<0.1%	$291,451	390	Held
Ishares TRIWF	<0.1%	$280,525	2,259	Held
Ishares TRIWD	<0.1%	$280,279	1,156	Held
RENN FundRCG	<0.1%	$278,404	93,099	Held
Sprott Asset Management LPPHYS	<0.1%	$262,479	8,700	Held
OR RoyaltiesOR	<0.1%	$253,040	8,000	Held
Triple Flag Precious MetalsTFPM	<0.1%	$209,790	7,000	Held

Over time and by industry

Value over time

Jun '25

Dec '25

Jun '26

Value is up 9.0% since 30 June 2025.

Where the money is

Financial services11.5%

Media & telecom6.0%

Technology4.5%

Retail & consumer4.2%

Energy3.9%

Everyday goods3.1%

Materials1.9%

Industrials1.6%

Utilities0.2%

Health care0.2%

Other63.0%

From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.