# PECAUT & CO.

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1597200. Source: https://holderbook.com/funds/1597200-pecaut-co/

- Reported value: $328.2M
- Positions: 65
- Weight of the ten largest: 59.2%
- Filed: 2026-08-03

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $29.3M | 58,483 | 8.9% | 32 |
| SPDR SERIES TRUST | [BILS](https://holderbook.com/stocks/BILS/) | $25.8M | 259,692 | 7.9% | 13 |
| VANGUARD SCOTTSDALE FDS | [VCSH](https://holderbook.com/stocks/VCSH/) | $25.0M | 316,064 | 7.6% | 2 |
| ISHARES INC | [EMXC](https://holderbook.com/stocks/EMXC/) | $20.7M | 202,039 | 6.3% | 15 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $18.7M | 52,934 | 5.7% | 32 |
| SPDR SERIES TRUST | [SPYG](https://holderbook.com/stocks/SPYG/) | $18.5M | 155,879 | 5.7% | 21 |
| ISHARES TR | [SGOV](https://holderbook.com/stocks/SGOV/) | $16.4M | 163,019 | 5.0% | 16 |
| SPDR INDEX SHS FDS | [SPDW](https://holderbook.com/stocks/SPDW/) | $15.0M | 298,409 | 4.6% | 21 |
| VANGUARD SPECIALIZED FUNDS | [VIG](https://holderbook.com/stocks/VIG/) | $13.6M | 57,622 | 4.2% | 10 |
| SPDR SERIES TRUST | [SPYV](https://holderbook.com/stocks/SPYV/) | $11.3M | 185,397 | 3.4% | 21 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $10.3M | 35,616 | 3.1% | 32 |
| FIRST TR EXCHANGE TRADED FD | [GRID](https://holderbook.com/stocks/GRID/) | $9.5M | 49,362 | 2.9% | 9 |
| TEXAS PACIFIC LAND CORPORATI | [TPL](https://holderbook.com/stocks/TPL/) | $9.0M | 20,556 | 2.7% | 22 |
| LISTED FDS TR | [INFL](https://holderbook.com/stocks/INFL/) | $7.6M | 152,906 | 2.3% | 22 |
| FIRST TR EXCHANGE TRADED FD | [AIRR](https://holderbook.com/stocks/AIRR/) | $7.3M | 54,856 | 2.2% | 4 |
| SPDR SERIES TRUST | [SPMD](https://holderbook.com/stocks/SPMD/) | $7.1M | 105,452 | 2.2% | 21 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $6.6M | 7,077 | 2.0% | 32 |
| BERKSHIRE HATHAWAY INC DEL | [BRKA](https://holderbook.com/stocks/BRKA/) | $6.0M | 8 | 1.8% | 32 |
| AUTONATION INC | [AN](https://holderbook.com/stocks/AN/) | $4.4M | 23,570 | 1.3% | 16 |
| KNIFE RIVER CORP | [KNF](https://holderbook.com/stocks/KNF/) | $4.2M | 50,140 | 1.3% | 13 |
| LOWES COS INC | [LOW](https://holderbook.com/stocks/LOW/) | $4.1M | 18,567 | 1.2% | 26 |
| SPDR SERIES TRUST | [SPSM](https://holderbook.com/stocks/SPSM/) | $3.8M | 66,143 | 1.2% | 21 |
| SPDR SERIES TRUST | [BIL](https://holderbook.com/stocks/BIL/) | $3.5M | 38,396 | 1.1% | 13 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $3.1M | 8,301 | 0.9% | 25 |
| WATERBRIDGE INFRASTRUCTURE L | [WBI](https://holderbook.com/stocks/WBI/) | $3.0M | 87,000 | 0.9% | 4 |
| BUILDERS FIRSTSOURCE INC | [BLDR](https://holderbook.com/stocks/BLDR/) | $2.4M | 26,865 | 0.7% | 30 |
| WHITE MTNS INS GROUP LTD | [WTM](https://holderbook.com/stocks/WTM/) | $2.4M | 1,142 | 0.7% | 32 |
| VANGUARD INDEX FDS | [VUG](https://holderbook.com/stocks/VUG/) | $2.4M | 27,432 | 0.7% | 21 |
| VANGUARD TAX-MANAGED FDS | [VEA](https://holderbook.com/stocks/VEA/) | $2.2M | 30,802 | 0.7% | 18 |
| J P MORGAN EXCHANGE TRADED F | [JMST](https://holderbook.com/stocks/JMST/) | $2.1M | 41,785 | 0.6% | 5 |
| STARBUCKS CORP | [SBUX](https://holderbook.com/stocks/SBUX/) | $2.1M | 20,700 | 0.6% | 2 |
| CASEYS GEN STORES INC | [CASY](https://holderbook.com/stocks/CASY/) | $2.1M | 2,600 | 0.6% | 32 |
| INTERCONTINENTAL EXCHANGE IN | [ICE](https://holderbook.com/stocks/ICE/) | $2.0M | 16,444 | 0.6% | 25 |
| WORLD GOLD TR | [GLDM](https://holderbook.com/stocks/GLDM/) | $1.8M | 22,268 | 0.5% | 18 |
| AMERICAN EXPRESS CO | [AXP](https://holderbook.com/stocks/AXP/) | $1.7M | 5,015 | 0.5% | 32 |
| UNITED RENTALS INC | [URI](https://holderbook.com/stocks/URI/) | $1.6M | 1,403 | 0.5% | 17 |
| BWX TECHNOLOGIES INC | [BWXT](https://holderbook.com/stocks/BWXT/) | $1.5M | 7,935 | 0.5% | 11 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $1.5M | 7,391 | 0.5% | 25 |
| VANGUARD INDEX FDS | [VTV](https://holderbook.com/stocks/VTV/) | $1.4M | 6,454 | 0.4% | 21 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $1.4M | 12,123 | 0.4% | 24 |
| WHEATON PRECIOUS METALS CORP | [WPM](https://holderbook.com/stocks/WPM/) | $1.3M | 11,550 | 0.4% | 23 |
| LANDBRIDGE COMPANY LLC | [LB](https://holderbook.com/stocks/LB/) | $1.3M | 15,894 | 0.4% | 8 |
| UNION PAC CORP | [UNP](https://holderbook.com/stocks/UNP/) | $1.1M | 4,139 | 0.3% | 32 |
| LIBERTY MEDIA CORP DEL | [FWONA](https://holderbook.com/stocks/FWONA/) | $1.1M | 12,158 | 0.3% | 12 |
| VANGUARD INDEX FDS | [VB](https://holderbook.com/stocks/VB/) | $1.0M | 3,367 | 0.3% | 21 |
| VANGUARD INDEX FDS | [VO](https://holderbook.com/stocks/VO/) | $993.9K | 12,336 | 0.3% | 19 |
| VANGUARD WORLD FD | [ESGV](https://holderbook.com/stocks/ESGV/) | $941.3K | 7,118 | 0.3% | 19 |
| MESABI TR | [MSB](https://holderbook.com/stocks/MSB/) | $859.3K | 33,963 | 0.3% | 11 |
| FLOOR & DECOR HLDGS INC | [FND](https://holderbook.com/stocks/FND/) | $813.2K | 13,700 | 0.2% | 17 |
| NATURAL RESOURCE PARTNERS LP | [NRP](https://holderbook.com/stocks/NRP/) | $783.3K | 8,075 | 0.2% | 7 |
| TIDEWATER INC NEW | [TDW](https://holderbook.com/stocks/TDW/) | $633.0K | 9,500 | 0.2% | 15 |
| SOURCE CAPITAL | [SOR](https://holderbook.com/stocks/SOR/) | $625.2K | 13,601 | 0.2% | 6 |
| HAWAIIAN ELEC INDS INC MTN B | [HE](https://holderbook.com/stocks/HE/) | $558.8K | 41,300 | 0.2% | 5 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $541.0K | 2,130 | 0.2% | 32 |
| ISHARES TR | [ESGD](https://holderbook.com/stocks/ESGD/) | $460.7K | 4,481 | 0.1% | 21 |
| LSB INDS INC | [LXU](https://holderbook.com/stocks/LXU/) | $394.6K | 36,500 | 0.1% | 8 |
| CANADIAN NATL RY CO | [CNI](https://holderbook.com/stocks/CNI/) | $320.0K | 2,684 | 0.1% | 32 |
| ISHARES TR | [ESGU](https://holderbook.com/stocks/ESGU/) | $307.5K | 1,879 | 0.1% | 5 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $291.5K | 390 | 0.1% | 11 |
| ISHARES TR | [IWF](https://holderbook.com/stocks/IWF/) | $280.5K | 2,259 | 0.1% | 7 |
| ISHARES TR | [IWD](https://holderbook.com/stocks/IWD/) | $280.3K | 1,156 | 0.1% | 6 |
| RENN FD INC | [RCG](https://holderbook.com/stocks/RCG/) | $278.4K | 93,099 | 0.1% | 32 |
| SPROTT ASSET MANAGEMENT LP | [PHYS](https://holderbook.com/stocks/PHYS/) | $262.5K | 8,700 | 0.1% | 6 |
| OR ROYALTIES INC. | [OR](https://holderbook.com/stocks/OR/) | $253.0K | 8,000 | 0.1% | 2 |
| TRIPLE FLAG PRECIOUS METAL | [TFPM](https://holderbook.com/stocks/TFPM/) | $209.8K | 7,000 | 0.1% | 4 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +7.0% | +14.8% | -7.8% | 100% |
| Q1 2026 | +0.5% | -4.6% | +5.1% | 100% |
| Q4 2025 | +1.1% | +2.4% | -1.3% | 100% |
| Q3 2025 | +4.7% | +7.8% | -3.1% | 100% |
| Q2 2025 | +2.2% | +10.5% | -8.2% | 100% |
| Q1 2025 | +0.2% | -4.6% | +4.8% | 100% |
| Q4 2024 | +0.9% | +2.1% | -1.3% | 100% |
| Q3 2024 | +6.4% | +5.4% | +1.0% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $328.2M | 65 |
| Q1 2026 | $308.0M | 66 |
| Q4 2025 | $310.0M | 70 |
| Q3 2025 | $311.3M | 79 |
| Q2 2025 | $301.2M | 82 |
| Q1 2025 | $293.9M | 77 |
| Q4 2024 | $289.7M | 75 |
| Q3 2024 | $282.7M | 74 |
| Q2 2024 | $264.5M | 70 |
| Q1 2024 | $268.3M | 78 |
| Q4 2023 | $249.1M | 80 |
| Q3 2023 | $238.9M | 101 |