Q4 2025 · 13F-HR
JRM Investment Counsel, LLCholdings as filed
Filed 2026-02-12 · accession 0001631084-26-000001
$345.7M
Reported value
21
Positions
2025-12-31
Period end
The Brief · JRM Investment Counsel, LLC · Q4 2025
AI · grounded in 13F
JRM Investment Counsel, LLC trimmed its position in BANK AMERICA CORP [[stock:BAC 7.25 PERP L]] by 17.93%. The fund also reduced its holdings in BLACKSTONE INC BX by 12.71% and WELLS FARGO CO NEW [[stock:WFC 7.5 PERP L]] by 2.06%. On the buy side, the fund accumulated shares of AMERICAN CENTY ETF TR AVLV by 2.40% and AMERICAN CENTY ETF TR AVDE by 2.08%.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 084670702 | BRK/B | BERKSHIRE HATHAWAY INC DEL | $101.1M | 29.2% | 201,142 | Common | NONE |
| 921943858 | VEA | VANGUARD TAX-MANAGED FDS | $39.5M | 11.4% | 631,723 | Common | NONE |
| 025072349 | AVLV | AMERICAN CENTY ETF TR | $37.8M | 10.9% | 499,066 | Common | NONE |
| 025072885 | AVUS | AMERICAN CENTY ETF TR | $35.9M | 10.4% | 321,496 | Common | NONE |
| 025072604 | AVEM | AMERICAN CENTY ETF TR | $24.4M | 7.06% | 316,761 | Common | NONE |
| 025072703 | AVDE | AMERICAN CENTY ETF TR | $19.6M | 5.66% | 237,767 | Common | NONE |
| 025072877 | AVUV | AMERICAN CENTY ETF TR | $17.8M | 5.16% | 174,902 | Common | NONE |
| 293792107 | EPD | ENTERPRISE PRODS PARTNERS L | $17.4M | 5.02% | 541,196 | Common | NONE |
| 084670108 | BRK/A | BERKSHIRE HATHAWAY INC DEL | $16.6M | 4.80% | 22 | Common | NONE |
| 025072802 | AVDV | AMERICAN CENTY ETF TR | $14.7M | 4.26% | 156,562 | Common | NONE |
| 72651A207 | PAGP | PLAINS GP HLDGS L P | $4.4M | 1.27% | 229,000 | Common | NONE |
| 78463X889 | SPDW | SPDR INDEX SHS FDS | $4.0M | 1.16% | 90,103 | Common | NONE |
| 14316J108 | CG | CARLYLE GROUP INC | $3.2M | 0.94% | 54,921 | Common | NONE |
| 949746804 | WFC 7.5 PERP L | WELLS FARGO CO NEW | $2.2M | 0.65% | 1,850 | Common | NONE |
| 037833100 | AAPL | APPLE INC | $1.8M | 0.51% | 6,546 | Common | NONE |
| 46432F842 | IEFA | ISHARES TR | $1.5M | 0.43% | 16,644 | Common | NONE |
| 87807B107 | TRP | TC ENERGY CORP | $1.5M | 0.43% | 27,000 | Common | NONE |
| 921908844 | VIG | VANGUARD SPECIALIZED FUNDS | $970,611 | 0.28% | 4,416 | Common | NONE |
| 060505682 | BAC 7.25 PERP L | BANK AMERICA CORP | $585,134 | 0.17% | 467 | Common | NONE |
| 09260D107 | BX | BLACKSTONE INC | $455,267 | 0.13% | 2,954 | Common | NONE |
| 907818108 | UNP | UNION PAC CORP | $292,620 | 0.08% | 1,265 | Common | NONE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.