# EDGAR Filing Document

**Accession Number:** 0001638022
**File Stem:** 0001420506-26-000263
**Filing Date:** 2026-2
**Character Count:** 19670
**Document Hash:** d3aae1a89476ac57ad0fc7883a5d5602
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001420506-26-000263.hdr.sgml**: 20260210

**ACCESSION NUMBER**: 0001420506-26-000263

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260210

**DATE AS OF CHANGE**: 20260210

**EFFECTIVENESS DATE**: 20260210

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Elgethun Capital Management
- **CENTRAL INDEX KEY:** 0001638022

**ORGANIZATION NAME:**
- **EIN:** 462136660
- **STATE OF INCORPORATION:** SD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-17656
- **FILM NUMBER:** 26617395

**BUSINESS ADDRESS:**
- **STREET 1:** 231 S PHILLIPS AVE
- **STREET 2:** SUITE 201
- **CITY:** SIOUX FALLS
- **STATE:** SD
- **ZIP:** 57104
- **BUSINESS PHONE:** 605-367-3336

**MAIL ADDRESS:**
- **STREET 1:** 231 S PHILLIPS AVE
- **STREET 2:** SUITE 201
- **CITY:** SIOUX FALLS
- **STATE:** SD
- **ZIP:** 57104

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Elgethun Capital Management<br>**Address:** 231 S PHILLIPS AVE<br>SUITE 201<br>SIOUX FALLS, SD 57104

**Form 13F File Number:** 028-17656

**CRD Number (if applicable):** 000127616

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** John Allen Barker<br>**Title:** President<br>**Phone:** 605-367-3336

**Signature, Place, and Date of Signing:**

John Allen Barker President  SIOUX FALLS, SD  02-10-2026<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 164

**Form 13F Information Table Value Total:** $578908490

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 66313190 | 131927 | SH |  | SOLE |  | 129830 | 0 | 2097 |
| FAIRFAX FINANCIAL | COM | 303901102 |  | 47416106 | 24851 | SH |  | SOLE |  | 24293 | 0 | 558 |
| ISHARES TR | EAFE VALUE ETF | 464288877 |  | 32491277 | 454996 | SH |  | SOLE |  | 452463 | 0 | 2533 |
| ELI LILLY  CO | COM | 532457108 |  | 26480008 | 24640 | SH |  | SOLE |  | 15474 | 0 | 9166 |
| ISHARES INC | CORE MSCI EMKT | 46434G103 |  | 24388199 | 362812 | SH |  | SOLE |  | 358791 | 0 | 4021 |
| CITIGROUP INC | COM NEW | 172967424 |  | 20387504 | 174715 | SH |  | SOLE |  | 171616 | 0 | 3099 |
| SCHWAB STRATEGIC TR | FUNDAMENTAL EMER | 808524730 |  | 19355030 | 536745 | SH |  | SOLE |  | 532506 | 0 | 4239 |
| BOSTON OMAHA CORP | CL A COM STK | 101044105 |  | 17984026 | 1453842 | SH |  | SOLE |  | 1434979 | 0 | 18863 |
| SCHWAB CHARLES CORP | COM | 808513105 |  | 16016008 | 160304 | SH |  | SOLE |  | 158044 | 0 | 2261 |
| SCHWAB STRATEGIC TR | INTL EQTY ETF | 808524805 |  | 15813791 | 657812 | SH |  | SOLE |  | 648470 | 0 | 9342 |
| BANCORP INC DEL | COM | 05969A105 |  | 14866013 | 220172 | SH |  | SOLE |  | 215776 | 0 | 4396 |
| PATHWARD FINANCIAL INC | COM | 59100U108 |  | 14397494 | 202782 | SH |  | SOLE |  | 199059 | 0 | 3722 |
| SCHWAB STRATEGIC TR | US BRD MKT ETF | 808524102 |  | 13948580 | 531780 | SH |  | SOLE |  | 517416 | 0 | 14364 |
| LIBERTY MEDIA CORP DEL | COM LBTY ONE S A | 531229771 |  | 13182656 | 147490 | SH |  | SOLE |  | 145155 | 0 | 2335 |
| MICROSOFT CORP | COM | 594918104 |  | 11441671 | 23658 | SH |  | SOLE |  | 23337 | 0 | 322 |
| LIBERTY GLOBAL LTD | COM CL C | G61188127 |  | 9164436 | 830112 | SH |  | SOLE |  | 808648 | 0 | 21464 |
| ALPS ETF TR | ALERIAN MLP | 00162Q452 |  | 8866271 | 188564 | SH |  | SOLE |  | 186472 | 0 | 2092 |
| DREAM FINDERS HOMES INC | COM CL A | 26154D100 |  | 8465133 | 495037 | SH |  | SOLE |  | 486287 | 0 | 8750 |
| CRIMSON WINE GROUP | COM | 22662X100 |  | 8123945 | 1657948 | SH |  | SOLE |  | 1646247 | 0 | 11701 |
| DRIVEN BRANDS HLDGS INC | COM | 26210V102 |  | 7892169 | 532535 | SH |  | SOLE |  | 525937 | 0 | 6598 |
| VANGUARD INDEX FDS | SM CP VAL ETF | 922908611 |  | 7750829 | 36597 | SH |  | SOLE |  | 36259 | 0 | 338 |
| VANGUARD WORLD FD | ENERGY ETF | 92204A306 |  | 7279083 | 57807 | SH |  | SOLE |  | 57153 | 0 | 655 |
| ADVANCE AUTO PARTS INC | COM | 00751Y106 |  | 6691965 | 170279 | SH |  | SOLE |  | 166320 | 0 | 3959 |
| ATLANTA BRAVES HLDGS INC | COM SER C | 047726302 |  | 6324861 | 160326 | SH |  | SOLE |  | 157084 | 0 | 3242 |
| AMERICAN EXPRESS CO | COM | 025816109 |  | 6303749 | 17039 | SH |  | SOLE |  | 16738 | 0 | 301 |
| OCCIDENTAL PETE CORP | COM | 674599105 |  | 5989545 | 145660 | SH |  | SOLE |  | 143953 | 0 | 1707 |
| ENTERPRISE PRODS PARTNERS L | COM | 293792107 |  | 5909647 | 184331 | SH |  | SOLE |  | 184331 | 0 | 0 |
| FAIRFAX INDIA | COM | 303897102 |  | 5898498 | 337057 | SH |  | SOLE |  | 332136 | 0 | 4921 |
| INVESCO EXCHANGE TRADED FD T | S EQL WGT | 46137V357 |  | 5811435 | 30337 | SH |  | SOLE |  | 29151 | 0 | 1186 |
| INTEL CORP | COM | 458140100 |  | 5089295 | 137921 | SH |  | SOLE |  | 134860 | 0 | 3061 |
| AMAZON COM INC | COM | 023135106 |  | 5065114 | 21944 | SH |  | SOLE |  | 21299 | 0 | 645 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 5055244 | 27106 | SH |  | SOLE |  | 27105 | 0 | 1 |
| KROGER CO | COM | 501044101 |  | 4960160 | 79388 | SH |  | SOLE |  | 78081 | 0 | 1307 |
| NVR INC | COM | 62944T105 |  | 4667373 | 640 | SH |  | SOLE |  | 628 | 0 | 12 |
| APPLE INC | COM | 037833100 |  | 4071612 | 14977 | SH |  | SOLE |  | 14977 | 0 | 0 |
| ALBERTSONS COS INC | COMMON STOCK | 013091103 |  | 3637485 | 211851 | SH |  | SOLE |  | 209289 | 0 | 2562 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 3531752 | 10699 | SH |  | SOLE |  | 10468 | 0 | 231 |
| STELLANTIS N.V | SHS | N82405106 |  | 3471013 | 318734 | SH |  | SOLE |  | 313387 | 0 | 5347 |
| SCHWAB STRATEGIC TR | US LCAP GR ETF | 808524300 |  | 3423342 | 104946 | SH |  | SOLE |  | 104946 | 0 | 0 |
| ISHARES TR | RUS MID CAP ETF | 464287499 |  | 3419072 | 35515 | SH |  | SOLE |  | 34519 | 0 | 997 |
| BLACKROCK MUN TARGET TERM TR | COM SHS BEN IN | 09257P105 |  | 3126503 | 137007 | SH |  | SOLE |  | 137007 | 0 | 0 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 3100975 | 9882 | SH |  | SOLE |  | 8867 | 0 | 1015 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 3048127 | 9738 | SH |  | SOLE |  | 9738 | 0 | 0 |
| WALMART INC | COM | 931142103 |  | 2677042 | 24029 | SH |  | SOLE |  | 24029 | 0 | 0 |
| SCHWAB STRATEGIC TR | US LCAP VA ETF | 808524409 |  | 2317189 | 78257 | SH |  | SOLE |  | 78076 | 0 | 181 |
| BERKSHIRE HATHAWAY INC DEL | CL A | 084670108 |  | 2264400 | 3 | SH |  | SOLE |  | 3 | 0 | 0 |
| SCHWAB STRATEGIC TR | US LRG CAP ETF | 808524201 |  | 2111495 | 78465 | SH |  | SOLE |  | 77819 | 0 | 646 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 1721908 | 5344 | SH |  | SOLE |  | 5302 | 0 | 42 |
| BERKLEY W R CORP | COM | 084423102 |  | 1687716 | 24069 | SH |  | SOLE |  | 24069 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 922042858 |  | 1504387 | 27983 | SH |  | SOLE |  | 27661 | 0 | 322 |
| ABBVIE INC | COM | 00287Y109 |  | 1440012 | 6302 | SH |  | SOLE |  | 6302 | 0 | 0 |
| VISA INC | COM CL A | 92826C839 |  | 1409113 | 4018 | SH |  | SOLE |  | 4018 | 0 | 0 |
| BRIDGEWATER BANCSHARES INC | COM | 108621103 |  | 1389253 | 79250 | SH |  | SOLE |  | 79250 | 0 | 0 |
| BROADCOM INC | COM | 11135F101 |  | 1342868 | 3880 | SH |  | SOLE |  | 130 | 0 | 3750 |
| MERCK  CO INC | COM | 58933Y105 |  | 1252694 | 11901 | SH |  | SOLE |  | 11901 | 0 | 0 |
| HOME DEPOT INC | COM | 437076102 |  | 1136393 | 3303 | SH |  | SOLE |  | 3303 | 0 | 0 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 |  | 1129559 | 3717 | SH |  | SOLE |  | 3717 | 0 | 0 |
| 3M CO | COM | 88579Y101 |  | 1107062 | 6915 | SH |  | SOLE |  | 5781 | 0 | 1134 |
| MCDONALDS CORP | COM | 580135101 |  | 1063017 | 3478 | SH |  | SOLE |  | 3478 | 0 | 0 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 |  | 1016340 | 4129 | SH |  | SOLE |  | 4129 | 0 | 0 |
| ORACLE CORP | COM | 68389X105 |  | 1002148 | 5142 | SH |  | SOLE |  | 5142 | 0 | 0 |
| VANGUARD INDEX FDS | VALUE ETF | 922908744 |  | 977016 | 5116 | SH |  | SOLE |  | 5116 | 0 | 0 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 965501 | 8023 | SH |  | SOLE |  | 8023 | 0 | 0 |
| VANGUARD INDEX FDS | GROWTH ETF | 922908736 |  | 924007 | 1894 | SH |  | SOLE |  | 1894 | 0 | 0 |
| ISHARES TR | CORE S ETF | 464287200 |  | 920559 | 1344 | SH |  | SOLE |  | 1344 | 0 | 0 |
| ISHARES TR | CORE MSCI EAFE | 46432F842 |  | 918219 | 10264 | SH |  | SOLE |  | 10264 | 0 | 0 |
| VISTRA CORP | COM | 92840M102 |  | 908772 | 5633 | SH |  | SOLE |  | 5633 | 0 | 0 |
| SPDR SERIES TRUST | STATE STREET SPD | 78468R853 |  | 893245 | 19062 | SH |  | SOLE |  | 18997 | 0 | 65 |
| ISHARES TR | MSCI EAFE ETF | 464287465 |  | 877486 | 9138 | SH |  | SOLE |  | 9138 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 851358 | 4114 | SH |  | SOLE |  | 4114 | 0 | 0 |
| VANGUARD TAX-MANAGED FDS | VAN FTSE DEV MKT | 921943858 |  | 791870 | 12676 | SH |  | SOLE |  | 12676 | 0 | 0 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 787885 | 2350 | SH |  | SOLE |  | 2350 | 0 | 0 |
| CHEVRON CORP NEW | COM | 166764100 |  | 756254 | 4962 | SH |  | SOLE |  | 4962 | 0 | 0 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 744932 | 4644 | SH |  | SOLE |  | 4636 | 0 | 8 |
| COCA COLA CO | COM | 191216100 |  | 726984 | 10399 | SH |  | SOLE |  | 10399 | 0 | 0 |
| PEPSICO INC | COM | 713448108 |  | 685999 | 4780 | SH |  | SOLE |  | 4780 | 0 | 0 |
| ISHARES TR | RUS 2000 GRW ETF | 464287648 |  | 670309 | 2075 | SH |  | SOLE |  | 2075 | 0 | 0 |
| SELECT SECTOR SPDR TR | STATE STREET FIN | 81369Y605 |  | 665694 | 12154 | SH |  | SOLE |  | 12154 | 0 | 0 |
| UNITED PARCEL SERVICE INC | CL B | 911312106 |  | 642944 | 6482 | SH |  | SOLE |  | 6431 | 0 | 51 |
| CATERPILLAR INC | COM | 149123101 |  | 637578 | 1113 | SH |  | SOLE |  | 1113 | 0 | 0 |
| SERVICENOW INC | COM | 81762P102 |  | 635739 | 4150 | SH |  | SOLE |  | 4150 | 0 | 0 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 591636 | 943 | SH |  | SOLE |  | 943 | 0 | 0 |
| TESLA INC | COM | 88160R101 |  | 559452 | 1244 | SH |  | SOLE |  | 1243 | 0 | 1 |
| DANAHER CORPORATION | COM | 235851102 |  | 556652 | 2432 | SH |  | SOLE |  | 2432 | 0 | 0 |
| UNITED RENTALS INC | COM | 911363109 |  | 552766 | 683 | SH |  | SOLE |  | 683 | 0 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 532665 | 781 | SH |  | SOLE |  | 780 | 0 | 1 |
| VANGUARD WHITEHALL FDS | HIGH DIV YLD | 921946406 |  | 531024 | 3700 | SH |  | SOLE |  | 3700 | 0 | 0 |
| BOOKING HOLDINGS INC | COM | 09857L108 |  | 519467 | 97 | SH |  | SOLE |  | 97 | 0 | 0 |
| MARATHON PETE CORP | COM | 56585A102 |  | 515212 | 3168 | SH |  | SOLE |  | 3168 | 0 | 0 |
| S GLOBAL INC | COM | 78409V104 |  | 513862 | 983 | SH |  | SOLE |  | 983 | 0 | 0 |
| MARKEL GROUP INC | COM | 570535104 |  | 511617 | 238 | SH |  | SOLE |  | 238 | 0 | 0 |
| ISHARES TR | MSCI ACWI EX US | 464288240 |  | 503475 | 7500 | SH |  | SOLE |  | 7500 | 0 | 0 |
| CARMAX INC | COM | 143130102 |  | 468510 | 12125 | SH |  | SOLE |  | 9394 | 0 | 2731 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 448015 | 785 | SH |  | SOLE |  | 785 | 0 | 0 |
| CSX CORP | COM | 126408103 |  | 446244 | 12310 | SH |  | SOLE |  | 12310 | 0 | 0 |
| BP PLC | SPONSORED ADR | 055622104 |  | 440864 | 12694 | SH |  | SOLE |  | 12692 | 0 | 2 |
| TARGET CORP | COM | 87612E106 |  | 417253 | 4269 | SH |  | SOLE |  | 4006 | 0 | 263 |
| RTX CORPORATION | COM | 75513E101 |  | 414336 | 2259 | SH |  | SOLE |  | 2259 | 0 | 0 |
| ACCENTURE PLC IRELAND | SHS CLASS A | G1151C101 |  | 405670 | 1512 | SH |  | SOLE |  | 1512 | 0 | 0 |
| GREEN BRICK PARTNERS INC | COM | 392709101 |  | 398204 | 6355 | SH |  | SOLE |  | 6355 | 0 | 0 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 395565 | 2760 | SH |  | SOLE |  | 2760 | 0 | 0 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 383683 | 625 | SH |  | SOLE |  | 556 | 0 | 69 |
| CHUBB LIMITED | COM | H1467J104 |  | 380474 | 1219 | SH |  | SOLE |  | 1219 | 0 | 0 |
| VANGUARD INDEX FDS | MID CAP ETF | 922908629 |  | 371772 | 1281 | SH |  | SOLE |  | 1281 | 0 | 0 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 369432 | 1247 | SH |  | SOLE |  | 1247 | 0 | 0 |
| BANK AMERICA CORP | COM | 060505104 |  | 366390 | 6662 | SH |  | SOLE |  | 2612 | 0 | 4050 |
| NEWMONT CORP | COM | 651639106 |  | 363265 | 3638 | SH |  | SOLE |  | 3638 | 0 | 0 |
| ABBOTT LABS | COM | 002824100 |  | 361821 | 2888 | SH |  | SOLE |  | 2888 | 0 | 0 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 359366 | 417 | SH |  | SOLE |  | 417 | 0 | 0 |
| INTUIT | COM | 461202103 |  | 353998 | 534 | SH |  | SOLE |  | 534 | 0 | 0 |
| DEERE  CO | COM | 244199105 |  | 352991 | 758 | SH |  | SOLE |  | 758 | 0 | 0 |
| HONEYWELL INTL INC | COM | 438516106 |  | 341733 | 1752 | SH |  | SOLE |  | 1752 | 0 | 0 |
| ISHARES INC | EM MKTS DIV ETF | 464286319 |  | 340423 | 10925 | SH |  | SOLE |  | 10925 | 0 | 0 |
| UNION PAC CORP | COM | 907818108 |  | 337958 | 1461 | SH |  | SOLE |  | 1461 | 0 | 0 |
| SCHWAB STRATEGIC TR | FUNDAMENTAL INTL | 808524755 |  | 333048 | 7367 | SH |  | SOLE |  | 7367 | 0 | 0 |
| CASEYS GEN STORES INC | COM | 147528103 |  | 323111 | 585 | SH |  | SOLE |  | 585 | 0 | 0 |
| ILLINOIS TOOL WKS INC | COM | 452308109 |  | 317553 | 1289 | SH |  | SOLE |  | 1284 | 0 | 5 |
| ISHARES TR | CORE S SCP ETF | 464287804 |  | 312829 | 2603 | SH |  | SOLE |  | 2603 | 0 | 0 |
| WISDOMTREE TR | EMER MKT HIGH FD | 97717W315 |  | 303381 | 6495 | SH |  | SOLE |  | 6495 | 0 | 0 |
| INTERCONTINENTAL EXCHANGE IN | COM | 45866F104 |  | 288873 | 1784 | SH |  | SOLE |  | 1784 | 0 | 0 |
| ADVANCED MICRO DEVICES INC | COM | 007903107 |  | 267700 | 1250 | SH |  | SOLE |  | 1229 | 0 | 21 |
| GREIF INC | CL B | 397624206 |  | 267456 | 3581 | SH |  | SOLE |  | 3581 | 0 | 0 |
| LOCKHEED MARTIN CORP | COM | 539830109 |  | 266966 | 552 | SH |  | SOLE |  | 552 | 0 | 0 |
| ARROWHEAD PHARMACEUTICALS IN | COM | 04280A100 |  | 265560 | 4000 | SH |  | SOLE |  | 4000 | 0 | 0 |
| TRAVELERS COMPANIES INC | COM | 89417E109 |  | 264085 | 910 | SH |  | SOLE |  | 910 | 0 | 0 |
| VANGUARD BD INDEX FDS | SHORT TRM BOND | 921937827 |  | 260851 | 3310 | SH |  | SOLE |  | 3310 | 0 | 0 |
| MONSTER BEVERAGE CORP NEW | COM | 61174X109 |  | 257611 | 3360 | SH |  | SOLE |  | 3360 | 0 | 0 |
| D R HORTON INC | COM | 23331A109 |  | 252197 | 1751 | SH |  | SOLE |  | 1751 | 0 | 0 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 248170 | 3091 | SH |  | SOLE |  | 3091 | 0 | 0 |
| NORTHROP GRUMMAN CORP | COM | 666807102 |  | 245759 | 431 | SH |  | SOLE |  | 431 | 0 | 0 |
| SPDR GOLD TR | GOLD SHS | 78463V107 |  | 244127 | 616 | SH |  | SOLE |  | 215 | 0 | 401 |
| LOWES COS INC | COM | 548661107 |  | 242247 | 1005 | SH |  | SOLE |  | 1005 | 0 | 0 |
| ALTRIA GROUP INC | COM | 02209S103 |  | 237559 | 4120 | SH |  | SOLE |  | 4120 | 0 | 0 |
| APPLIED MATLS INC | COM | 038222105 |  | 235917 | 918 | SH |  | SOLE |  | 918 | 0 | 0 |
| EATON CORP PLC | SHS | G29183103 |  | 230920 | 725 | SH |  | SOLE |  | 725 | 0 | 0 |
| EVERUS CONSTR GROUP | COM | 300426103 |  | 229472 | 2682 | SH |  | SOLE |  | 2682 | 0 | 0 |
| SALESFORCE INC | COM | 79466L302 |  | 227823 | 860 | SH |  | SOLE |  | 860 | 0 | 0 |
| ISHARES TR | MSCI INTL VLU FT | 46435G409 |  | 227159 | 5970 | SH |  | SOLE |  | 5970 | 0 | 0 |
| CANADIAN NAT RES LTD | COM | 136385101 |  | 226727 | 6698 | SH |  | SOLE |  | 6698 | 0 | 0 |
| GOLD FIELDS LTD | SPONSORED ADR | 38059T106 |  | 218300 | 5000 | SH |  | SOLE |  | 5000 | 0 | 0 |
| GENERAL MTRS CO | COM | 37045V100 |  | 215173 | 2646 | SH |  | SOLE |  | 2113 | 0 | 533 |
| MDU RES GROUP INC | COM | 552690109 |  | 213344 | 10930 | SH |  | SOLE |  | 10930 | 0 | 0 |
| MICRON TECHNOLOGY INC | COM | 595112103 |  | 213138 | 747 | SH |  | SOLE |  | 747 | 0 | 0 |
| OCCIDENTAL PETE CORP | *W EXP 08/03/202 | 674599162 |  | 200377 | 10400 | SH |  | SOLE |  | 10400 | 0 | 0 |
| ECOLAB INC | COM | 278865100 |  | 185631 | 707 | SH |  | SOLE |  | 707 | 0 | 0 |
| SCHWAB STRATEGIC TR | US SML CAP ETF | 808524607 |  | 180918 | 6352 | SH |  | SOLE |  | 6352 | 0 | 0 |
| LPL FINL HLDGS INC | COM | 50212V100 |  | 176085 | 493 | SH |  | SOLE |  | 493 | 0 | 0 |
| SHELL PLC | SPON ADS | 780259305 |  | 173486 | 2361 | SH |  | SOLE |  | 2361 | 0 | 0 |
| KNIFE RIVER CORP | COMMON STOCK | 498894104 |  | 164408 | 2337 | SH |  | SOLE |  | 2337 | 0 | 0 |
| ISHARES TR | US HOME CONS ETF | 464288752 |  | 158317 | 1644 | SH |  | SOLE |  | 1644 | 0 | 0 |
| SYSCO CORP | COM | 871829107 |  | 156059 | 2118 | SH |  | SOLE |  | 2118 | 0 | 0 |
| WERNER ENTERPRISES INC | COM | 950755108 |  | 147605 | 4919 | SH |  | SOLE |  | 4919 | 0 | 0 |
| TEXAS INSTRS INC | COM | 882508104 |  | 146376 | 844 | SH |  | SOLE |  | 844 | 0 | 0 |
| VITESSE ENERGY INC | COMMON STOCK | 92852X103 |  | 137497 | 7139 | SH |  | SOLE |  | 7027 | 0 | 112 |
| VANGUARD BD INDEX FDS | TOTAL BND MRKT | 921937835 |  | 136363 | 1841 | SH |  | SOLE |  | 1841 | 0 | 0 |
| NEW GOLD INC CDA | COM | 644535106 |  | 130650 | 15000 | SH |  | SOLE |  | 15000 | 0 | 0 |
| HERSHEY CO | COM | 427866108 |  | 128678 | 707 | SH |  | SOLE |  | 707 | 0 | 0 |
| NIKE INC | CL B | 654106103 |  | 127547 | 2002 | SH |  | SOLE |  | 2002 | 0 | 0 |
| AMERICAN TOWER CORP NEW | COM | 03027X100 |  | 115984 | 661 | SH |  | SOLE |  | 661 | 0 | 0 |
| ISHARES TR | CORE S MCP ETF | 464287507 |  | 107951 | 1636 | SH |  | SOLE |  | 1636 | 0 | 0 |
| QUALCOMM INC | COM | 747525103 |  | 106393 | 622 | SH |  | SOLE |  | 622 | 0 | 0 |
| STARBUCKS CORP | COM | 855244109 |  | 93810 | 1114 | SH |  | SOLE |  | 1114 | 0 | 0 |
| MONDELEZ INTL INC | CL A | 609207105 |  | 91321 | 1696 | SH |  | SOLE |  | 950 | 0 | 747 |
| LINEAGE CELL THERAPEUTICS IN | COM | 53566P109 |  | 25050 | 15000 | SH |  | SOLE |  | 15000 | 0 | 0 |

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