P&
Pecaut & Co. — 13F Portfolio Changes & Top Buys (Q2 2026)
Pecaut & Co.CIK: 0001597200
Diversified strategyLong-term holderQuality / disciplined sizing
Total reported value
$328.2M
Reporting period: 2026-06-30 · Number of holdings: 65
PECAUT & CO. disclosed 65 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $328.2M and a quarterly turnover rate of 0.0%.
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Personality snowflake
- Concentration
- 17.68
- Portfolio Stability
- 0
- Momentum
- 50
- Sector conviction
- 43.15
- Diversification
- 100
- Sizing Uniformity
- 86.21
Pecaut & Co.'s disclosed holdings carry a Herfindahl concentration index of 0.044 — mathematically equivalent to about 23 equally-sized positions, well below its 65 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.38), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 26% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd EMXC
-1.0% $4.6M
Add SPYG
-0.2% $3.3M
Add GOOG
-2.4% $3.1M
Trim BRK-A
-20.0% -$1.2M
Trim TPL
-0.2% -$782.5K
Trim BILS
+1.4% $345.5K
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 8.92% | +0.04% | +2.42% | |
| 2 | BILS | Ss Spdrb B 3-12m T-bill ETF | ETF-Other | 7.86% | -0.41% | +1.42% | |
| 3 | VCSH | Vanguard S/t CORP Bond ETF | ETF-Corp Bonds | 7.61% | -0.36% | +2.01% | |
| 4 | EMXC | Ishares Msci Emr Mrk Ex Chna | ETF-Other | 6.30% | +1.09% | -1.04% | |
| 5 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 5.70% | +0.65% | -2.40% | |
| 6 | SPYG | Ss Spdr P S&p 500 Growth ETF | ETF-Large Cap & Growth | 5.65% | +0.68% | -0.23% | |
| 7 | SGOV | Ishares 0-3 Month Treasury B | ETF-Gov Bonds | 5.00% | -0.27% | +1.10% | |
| 8 | SPDW | Ste Str Spdr Pt Dw EU ETF | ETF-Other | 4.58% | +0.19% | +0.86% | |
| 9 | VIG | Vanguard Dividend Apprec ETF | ETF-Other | 4.15% | +0.15% | +0.67% | |
| 10 | SPYV | Ss Spdr P S&p 500 Value ETF | ETF-Large Cap & Growth | 3.43% | +0.17% | +4.48% | |
| 11 | AAPL | Apple Inc | Stock-Tech | 3.14% | +0.15% | -1.98% | |
| 12 | GRID | First Trst Nasd Cl Edg Sgiif | ETF-Other | 2.88% | +0.23% | -1.20% | |
| 13 | TPL | Texas Pacific Land CORP | Stock-Energy | 2.74% | -0.44% | -0.24% | |
| 14 | INFL | Horizon Kinetics Infl Benef | ETF-Other | 2.32% | -0.21% | +2.35% | |
| 15 | AIRR | First Trust Rba American Ind | ETF-Other | 2.23% | +0.25% | -0.24% | |
| 16 | SPMD | Ss Spdr P S&p 400 Midcap ETF | ETF-Other | 2.17% | +0.13% | -0.52% | |
| 17 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 2.02% | -0.29% | -0.70% | |
| 18 | BRK-A | Berkshire Hathaway Inc-cl A | Stock-Other | 1.83% | -0.50% | -20.00% | |
| 19 | AN | Autonation Inc | Stock-Consumer Disc | 1.33% | -0.28% | -7.28% | |
| 20 | KNF | Knife River CORP | Stock-Materials | 1.28% | -0.07% | -1.28% | |
| 21 | LOW | Lowe's Cos Inc | Stock-Consumer Disc | 1.25% | -0.26% | -5.84% | |
| 22 | SPSM | Ss Spdr P S&p 600 Small Cap | ETF-Small Cap | 1.16% | +0.11% | -1.14% | |
| 23 | BIL | Ss Spdr Bb 1-3m T-bill ETF | ETF-Gov Bonds | 1.07% | — | +6.45% | |
| 24 | MSFT | Microsoft CORP | Stock-Tech | 0.94% | -0.06% | -0.42% | |
| 25 | WBI | Waterbridge Infrastruc-cl A | Stock-Other | 0.91% | +0.15% | -0.57% | |
| 26 | BLDR | Builders Firstsource Inc | Stock-Industrials | 0.73% | +0.01% | — | |
| 27 | WTM | White Mountains Insurance Group, Ltd. | Stock-Financials | 0.72% | -0.12% | -2.56% | |
| 28 | VUG | Vanguard Growth ETF | ETF-Other | 0.72% | +0.07% | +495.31% | |
| 29 | VEA | Vanguard Ftse Developed ETF | ETF-Other | 0.67% | +0.04% | +1.77% | |
| 30 | JMST | JPM Ultra-short Muni Income | ETF-Other | 0.65% | -0.08% | -4.90% | |
| 31 | SBUX | Starbucks CORP | Stock-Consumer Disc | 0.64% | +0.04% | — | |
| 32 | CASY | Casey's General Stores Inc | Stock-Consumer Disc | 0.63% | +0.02% | — | |
| 33 | ICE | Intercontinental Exchange In | Stock-Financials | 0.62% | -0.26% | -4.90% | |
| 34 | GLDM | Spdr Gold Minishares Trust | ETF-Commodities | 0.54% | -0.13% | +0.07% | |
| 35 | AXP | American Express Co | Stock-Financials | 0.52% | +0.02% | -0.50% | |
| 36 | URI | United Rentals Inc | Stock-Industrials | 0.48% | +0.15% | — | |
| 37 | BWXT | Bwx Technologies Inc | Stock-Industrials | 0.47% | -0.07% | -2.46% | |
| 38 | NVDA | Nvidia CORP | Stock-Tech | 0.45% | +0.03% | -0.15% | |
| 39 | VTV | Vanguard Value ETF | ETF-Other | 0.43% | +0.02% | +0.20% | |
| 40 | WMT | Walmart Inc | Stock-Consumer Staples | 0.42% | -0.07% | -0.79% | |
| 41 | WPM | Wheaton Precious Metals CORP | Stock-Materials | 0.40% | -0.09% | — | |
| 42 | LB | Landbridge Co Llc-a | Stock-Other | 0.38% | +0.02% | +0.01% | |
| 43 | UNP | Union Pacific CORP | Stock-Industrials | 0.34% | -0.01% | -5.52% | |
| 44 | FWONA | Liberty Media Corp-formula-a | Stock-Other | 0.32% | +0.01% | — | |
| 45 | VB | Vanguard Small-cap ETF | ETF-Other | 0.31% | +0.03% | +0.66% | |
| 46 | VO | Vanguard Mid-cap ETF | ETF-Other | 0.30% | +0.02% | +305.66% | |
| 47 | ESGV | Vanguard Esg US Stock ETF | ETF-Other | 0.29% | +0.02% | -3.12% | |
| 48 | MSB | Mesabi Trust | Stock-Other | 0.26% | -0.09% | — | |
| 49 | FND | Floor & Decor Holdings Inc-a | Stock-Consumer Disc | 0.25% | +0.02% | -3.52% | |
| 50 | NRP | Natural Resource Partners LP | Stock-Other | 0.24% | -0.08% | — |
1–50 of 65
Portfolio Performance
Performance for Q3 2026
-2.7%
Performance Last 4 Quarters
+7.9%
Based on 89% of reported portfolio value with available pricing
- Stdev
- +9.7%
- Beta
- +0.7
- Alpha
- -1.2%
- Max Drawdown
- -6.3%
- Annualized Perf
- +14.3%
- Batting Avg vs S&P
- +36.1%
- Sortino
- +2.85
- Stutzer
- +0.42
- Treynor
- +0.2
- Sterling
- +1
- Calmar
- +2.28
- Information Ratio
- -1.35
- Tracking Error
- +5.7%
- Stdev Down
- +4.9%
- Winning Months %
- +66.7%
- Losing Months %
- +33.3%
- Best 12 Months
- +28.3%
- Worst 12 Months
- +6.5%
- Efficiency Ratio
- +0.56
- Sharpe
- +1.44
- Stdev Sectors
- +6.6%
- Skewness
- -0.1
- Kurtosis
- -0.4
- Upside Potential
- +4.45
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 65 | $328.2M | 0 | ||
| 2026 Q1 | 66 | $308.0M | 35 | ||
| 2025 Q4 | 70 | $310.0M | 10 | ||
| 2025 Q3 | 79 | $311.3M | 30 | ||
| 2025 Q2 | 82 | $301.2M | 0 | ||
| 2025 Q1 | 77 | $293.9M | 100 | ||
| 2024 Q4 | 75 | $289.7M | 0 | ||
| 2024 Q3 | 74 | $282.7M | 0 | ||
| 2024 Q2 | 70 | $264.5M | 0 | ||
| 2024 Q1 | 78 | $268.3M | 0 | ||
| 2023 Q4 | 80 | $249.1M | 0 | ||
| 2023 Q3 | 101 | $238.9M | 0 | ||
| 2023 Q2 | 106 | $237.1M | — | ||
| 2023 Q1 | 110 | $219.5M | 0 | ||
| 2022 Q4 | 108 | $210.6M | 0 | ||
| 2022 Q3 | 102 | $188.6M | 0 | ||
| 2022 Q2 | 98 | $177.5M | 0 | ||
| 2022 Q1 | 103 | $205.4M | 0 | ||
| 2021 Q4 | 98 | $197.0M | 0 | ||
| 2021 Q3 | 80 | $167.6M | 0 | ||
| 2021 Q2 | 82 | $153.5M | 100 | ||
| 2021 Q1 | 58 | $138.6M | 29 | ||
| 2020 Q4 | 57 | $132.9M | 16 | ||
| 2020 Q3 | 59 | $131.9M | 25 | ||
| 2020 Q2 | 62 | $127.7M | 27 | ||
| 2020 Q1 | 62 | $110.2M | 43 | ||
| 2019 Q4 | 65 | $156.9M | 18 | ||
| 2019 Q3 | 71 | $143.6M | 15 | ||
| 2019 Q2 | 70 | $146.3M | 9 | ||
| 2019 Q1 | 69 | $144.7M | 22 | ||
| 2018 Q4 | 67 | $121.2M | 28 | ||
| 2018 Q3 | 71 | $144.5M | 13 | ||
| 2018 Q2 | 63 | $137.1M | 21 | ||
| 2018 Q1 | 63 | $131.6M | 17 | ||
| 2017 Q4 | 61 | $136.0M | 14 | ||
| 2017 Q3 | 52 | $122.2M | 11 | ||
| 2017 Q2 | 52 | $120.8M | 24 | ||
| 2017 Q1 | 50 | $111.9M | 23 | ||
| 2016 Q4 | 48 | $103.2M | 17 | ||
| 2016 Q3 | 45 | $93.1M | 16 | ||
| 2016 Q2 | 48 | $96.6M | 28 | ||
| 2016 Q1 | 47 | $98.6M | 14 | ||
| 2015 Q4 | 45 | $96.7M | 15 | ||
| 2015 Q3 | 47 | $97.2M | 18 | ||
| 2015 Q2 | 48 | $103.6M | 17 | ||
| 2015 Q1 | 49 | $102.1M | 22 | ||
| 2014 Q4 | 49 | $106.2M | 31 | ||
| 2014 Q3 | 49 | $101.7M | 12 | ||
| 2014 Q2 | 49 | $107.3M | 16 | ||
| 2014 Q1 | 45 | $101.2M | 17 | ||
| 2013 Q4 | 48 | $102.7M | — |
Holding changes this quarter
Pecaut & Co.'s most significant position changes for 2026-06-30: Sold out: Nike Inc -cl B (NKE); Trim: Ishares Msci Emr Mrk Ex Chna (EMXC) — shares -1.04%; Trim: Ss Spdr P S&p 500 Growth ETF (SPYG) — shares -0.23%; Trim: Alphabet Inc-cl C (GOOG) — shares -2.40%; Trim: Berkshire Hathaway Inc-cl A (BRK-A) — shares -20.00%.
1–50 of 66
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Data Source Notice: AlphaSMO is the web's most authoritative 13F / Inside Trader database. Institutional holdings and insider trades presented here are precisely computed to deliver accurate portfolio reporting.
Filing History
FAQ
What is Pecaut & Co. and what type of investor is it?
Pecaut & Co. is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $328.2M, spread across 65 disclosed positions.
What are Pecaut & Co.'s largest equity positions?
Based on the latest 13F filing, Pecaut & Co.'s top holdings by market value are:
1. Berkshire Hathaway Inc-cl B (BRK-B) — $29.3M (8.9%)
2. Ss Spdrb B 3-12m T-bill ETF (BILS) — $25.8M (7.9%)
3. Vanguard S/t CORP Bond ETF (VCSH) — $25.0M (7.6%)
4. Ishares Msci Emr Mrk Ex Chna (EMXC) — $20.7M (6.3%)
5. Alphabet Inc-cl C (GOOG) — $18.7M (5.7%)
What changes did Pecaut & Co. make in its most recent portfolio filing?
In the latest reported quarter, Pecaut & Co. made 51 notable position adjustments: 0 new positions were initiated, 22 existing holdings were added to, 28 positions were partially reduced, and 1 were completely exited. The largest of these moves: Sold out: Nike Inc -cl B (NKE); Trim: Ishares Msci Emr Mrk Ex Chna (EMXC) — shares -1.04%; Trim: Ss Spdr P S&p 500 Growth ETF (SPYG) — shares -0.23%; Trim: Alphabet Inc-cl C (GOOG) — shares -2.40%; Trim: Berkshire Hathaway Inc-cl A (BRK-A) — shares -20.00%
What sectors does Pecaut & Co. focus on?
Pecaut & Co. is concentrated in the following sectors based on its current disclosed equity portfolio:
• Communication Services: 22.1%
• Information Technology: 17.6%
• Consumer Discretionary: 15.9%
• Energy: 11.4%
• Consumer Staples: 9.4%
• Industrials: 8.3%
Investment Profile
Pecaut & Co. returned an annualized 14.3% over the trailing 36 months — underperforming the S&P 500 by 1.2 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.70 (less volatile than the market) and a 36% quarterly batting average against the index.
Its portfolio is broadly diversified and long-term-holding.
It has added to its EMXC position over the past two quarters (+$9.2M, now $20.7M), while trimming BRK-A over the same stretch (-$1.6M, still holding $6.0M).
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Developer Access
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