# EDGAR Filing Document

**Accession Number:** 0001638022
**File Stem:** 0001420506-25-001875
**Filing Date:** 2025-8
**Character Count:** 18432
**Document Hash:** 0b08394877135ff8275cda64c4b4b9b2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001420506-25-001875.hdr.sgml**: 20250813

**ACCESSION NUMBER**: 0001420506-25-001875

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250813

**DATE AS OF CHANGE**: 20250812

**EFFECTIVENESS DATE**: 20250813

**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:** 251208339

**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:** 06-30-2025

**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  08-12-2025<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:** 151

**Form 13F Information Table Value Total:** $496986669

      (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 |  | 57913094 | 119219 | SH |  | SOLE |  | 116608 | 0 | 2611 |
| FAIRFAX FINANCIAL | COM | 303901102 |  | 44770666 | 24782 | SH |  | SOLE |  | 24105 | 0 | 677 |
| ISHARES TR | EAFE VALUE ETF | 464288877 |  | 24378629 | 384036 | SH |  | SOLE |  | 378832 | 0 | 5204 |
| ISHARES INC | CORE MSCI EMKT | 46434G103 |  | 20982572 | 349535 | SH |  | SOLE |  | 343054 | 0 | 6481 |
| ELI LILLY  CO | COM | 532457108 |  | 19205651 | 24637 | SH |  | SOLE |  | 15471 | 0 | 9166 |
| SCHWAB STRATEGIC TR | US BRD MKT ETF | 808524102 |  | 15773096 | 661901 | SH |  | SOLE |  | 644758 | 0 | 17143 |
| SCHWAB STRATEGIC TR | FUNDAMENTAL EMER | 808524730 |  | 14739853 | 446527 | SH |  | SOLE |  | 439318 | 0 | 7209 |
| CITIGROUP INC | COM NEW | 172967424 |  | 14716830 | 172895 | SH |  | SOLE |  | 168996 | 0 | 3899 |
| BOSTON OMAHA CORP | CL A COM STK | 101044105 |  | 14713695 | 1047984 | SH |  | SOLE |  | 1020737 | 0 | 27247 |
| SCHWAB CHARLES CORP | COM | 808513105 |  | 14652920 | 160598 | SH |  | SOLE |  | 157592 | 0 | 3006 |
| PATHWARD FINANCIAL INC | COM | 59100U108 |  | 13863008 | 175215 | SH |  | SOLE |  | 170854 | 0 | 4361 |
| LIBERTY MEDIA CORP DEL | COM LBTY ONE S A | 531229771 |  | 13663308 | 143968 | SH |  | SOLE |  | 140972 | 0 | 2996 |
| BANCORP INC DEL | COM | 05969A105 |  | 12622216 | 221559 | SH |  | SOLE |  | 216037 | 0 | 5522 |
| SCHWAB STRATEGIC TR | INTL EQTY ETF | 808524805 |  | 12584157 | 569419 | SH |  | SOLE |  | 554035 | 0 | 15384 |
| MICROSOFT CORP | COM | 594918104 |  | 12142694 | 24412 | SH |  | SOLE |  | 24347 | 0 | 65 |
| DREAM FINDERS HOMES INC | COM CL A | 26154D100 |  | 11411835 | 454112 | SH |  | SOLE |  | 443298 | 0 | 10814 |
| LIBERTY GLOBAL LTD | COM CL C | G61188127 |  | 8693258 | 843187 | SH |  | SOLE |  | 813946 | 0 | 29241 |
| CRIMSON WINE GROUP | COM | 22662X100 |  | 8554992 | 1555453 | SH |  | SOLE |  | 1540072 | 0 | 15381 |
| ALPS ETF TR | ALERIAN MLP | 00162Q452 |  | 8447292 | 172888 | SH |  | SOLE |  | 170967 | 0 | 1921 |
| ADVANCE AUTO PARTS INC | COM | 00751Y106 |  | 7777033 | 167284 | SH |  | SOLE |  | 162489 | 0 | 4795 |
| ATLANTA BRAVES HLDGS INC | COM SER C | 047726302 |  | 6806485 | 145531 | SH |  | SOLE |  | 141281 | 0 | 4250 |
| VANGUARD WORLD FD | ENERGY ETF | 92204A306 |  | 6158178 | 51697 | SH |  | SOLE |  | 51123 | 0 | 575 |
| FAIRFAX INDIA | COM | 303897102 |  | 5715182 | 309029 | SH |  | SOLE |  | 301483 | 0 | 7546 |
| KROGER CO | COM | 501044101 |  | 5710316 | 79608 | SH |  | SOLE |  | 77712 | 0 | 1896 |
| INVESCO EXCHANGE TRADED FD T | S EQL WGT | 46137V357 |  | 5649790 | 31087 | SH |  | SOLE |  | 29086 | 0 | 2001 |
| VANGUARD INDEX FDS | SM CP VAL ETF | 922908611 |  | 5560792 | 28515 | SH |  | SOLE |  | 27671 | 0 | 844 |
| AMERICAN EXPRESS CO | COM | 025816109 |  | 5458704 | 17113 | SH |  | SOLE |  | 16793 | 0 | 320 |
| OCCIDENTAL PETE CORP | COM | 674599105 |  | 5430919 | 129277 | SH |  | SOLE |  | 127740 | 0 | 1537 |
| ENTERPRISE PRODS PARTNERS L | COM | 293792107 |  | 5342552 | 172285 | SH |  | SOLE |  | 172285 | 0 | 0 |
| ALBERTSONS COS INC | COMMON STOCK | 013091103 |  | 4335508 | 201558 | SH |  | SOLE |  | 196832 | 0 | 4726 |
| NVR INC | COM | 62944T105 |  | 4283683 | 580 | SH |  | SOLE |  | 568 | 0 | 12 |
| AMAZON COM INC | COM | 023135106 |  | 3823748 | 17429 | SH |  | SOLE |  | 17357 | 0 | 72 |
| STELLANTIS N.V | SHS | N82405106 |  | 3437552 | 342727 | SH |  | SOLE |  | 332043 | 0 | 10684 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 3335560 | 10692 | SH |  | SOLE |  | 9820 | 0 | 872 |
| ISHARES TR | RUS MID CAP ETF | 464287499 |  | 3266356 | 35515 | SH |  | SOLE |  | 34519 | 0 | 997 |
| APPLE INC | COM | 037833100 |  | 3233205 | 15759 | SH |  | SOLE |  | 15759 | 0 | 0 |
| INTEL CORP | COM | 458140100 |  | 2966096 | 132415 | SH |  | SOLE |  | 129477 | 0 | 2938 |
| BLACKROCK MUN TARGET TERM TR | COM SHS BEN IN | 09257P105 |  | 2894974 | 132251 | SH |  | SOLE |  | 132251 | 0 | 0 |
| SPDR SERIES TRUST | PORTFOLIO S | 78468R853 |  | 2359827 | 55395 | SH |  | SOLE |  | 52932 | 0 | 2463 |
| WALMART INC | COM | 931142103 |  | 2281892 | 23337 | SH |  | SOLE |  | 23337 | 0 | 0 |
| SCHWAB STRATEGIC TR | US LRG CAP ETF | 808524201 |  | 2141388 | 87618 | SH |  | SOLE |  | 87020 | 0 | 598 |
| SCHWAB STRATEGIC TR | US LCAP VA ETF | 808524409 |  | 2042182 | 73805 | SH |  | SOLE |  | 72674 | 0 | 1131 |
| BERKLEY W R CORP | COM | 084423102 |  | 1768122 | 24066 | SH |  | SOLE |  | 24066 | 0 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 1595201 | 9052 | SH |  | SOLE |  | 9052 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 922042858 |  | 1479217 | 29907 | SH |  | SOLE |  | 29587 | 0 | 320 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 1466611 | 8268 | SH |  | SOLE |  | 8067 | 0 | 201 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 1421010 | 4902 | SH |  | SOLE |  | 4830 | 0 | 72 |
| VISA INC | COM CL A | 92826C839 |  | 1403273 | 3952 | SH |  | SOLE |  | 3952 | 0 | 0 |
| BRIDGEWATER BANCSHARES INC | COM | 108621103 |  | 1308200 | 82225 | SH |  | SOLE |  | 82225 | 0 | 0 |
| HOME DEPOT INC | COM | 437076102 |  | 1206946 | 3292 | SH |  | SOLE |  | 3292 | 0 | 0 |
| ABBVIE INC | COM | 00287Y109 |  | 1154136 | 6218 | SH |  | SOLE |  | 6218 | 0 | 0 |
| 3M CO | COM | 88579Y101 |  | 1082704 | 7112 | SH |  | SOLE |  | 5978 | 0 | 1134 |
| BROADCOM INC | COM | 11135F101 |  | 1069522 | 3880 | SH |  | SOLE |  | 130 | 0 | 3750 |
| MCDONALDS CORP | COM | 580135101 |  | 993302 | 3400 | SH |  | SOLE |  | 3400 | 0 | 0 |
| MERCK  CO INC | COM | 58933Y105 |  | 948287 | 11979 | SH |  | SOLE |  | 11979 | 0 | 0 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 |  | 890949 | 4129 | SH |  | SOLE |  | 4129 | 0 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 880522 | 5573 | SH |  | SOLE |  | 5572 | 0 | 1 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 |  | 865871 | 3823 | SH |  | SOLE |  | 3742 | 0 | 81 |
| ISHARES TR | CORE S ETF | 464287200 |  | 861403 | 1387 | SH |  | SOLE |  | 1387 | 0 | 0 |
| SERVICENOW INC | COM | 81762P102 |  | 853306 | 830 | SH |  | SOLE |  | 830 | 0 | 0 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 845655 | 7845 | SH |  | SOLE |  | 7845 | 0 | 0 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 842572 | 4626 | SH |  | SOLE |  | 4618 | 0 | 8 |
| PEPSICO INC | COM | 713448108 |  | 838634 | 6351 | SH |  | SOLE |  | 6351 | 0 | 0 |
| ISHARES TR | MSCI EAFE ETF | 464287465 |  | 816798 | 9137 | SH |  | SOLE |  | 9137 | 0 | 0 |
| ISHARES TR | CORE MSCI EAFE | 46432F842 |  | 804409 | 9636 | SH |  | SOLE |  | 9636 | 0 | 0 |
| CHEVRON CORP NEW | COM | 166764100 |  | 801920 | 5600 | SH |  | SOLE |  | 5600 | 0 | 0 |
| COCA COLA CO | COM | 191216100 |  | 789201 | 11155 | SH |  | SOLE |  | 11155 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL A | 084670108 |  | 728800 | 1 | SH |  | SOLE |  | 1 | 0 | 0 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 714236 | 2350 | SH |  | SOLE |  | 2350 | 0 | 0 |
| VANGUARD TAX-MANAGED FDS | VAN FTSE DEV MKT | 921943858 |  | 700254 | 12283 | SH |  | SOLE |  | 12283 | 0 | 0 |
| ORACLE CORP | COM | 68389X105 |  | 658425 | 3012 | SH |  | SOLE |  | 3012 | 0 | 0 |
| SELECT SECTOR SPDR TR | FINANCIAL | 81369Y605 |  | 636523 | 12154 | SH |  | SOLE |  | 12154 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 620473 | 4062 | SH |  | SOLE |  | 4062 | 0 | 0 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 614175 | 3855 | SH |  | SOLE |  | 3855 | 0 | 0 |
| ISHARES TR | RUS 2000 GRW ETF | 464287648 |  | 593215 | 2075 | SH |  | SOLE |  | 2075 | 0 | 0 |
| BOOKING HOLDINGS INC | COM | 09857L108 |  | 549978 | 95 | SH |  | SOLE |  | 95 | 0 | 0 |
| MARATHON PETE CORP | COM | 56585A102 |  | 526236 | 3168 | SH |  | SOLE |  | 3168 | 0 | 0 |
| MARKEL GROUP INC | COM | 570535104 |  | 523308 | 262 | SH |  | SOLE |  | 262 | 0 | 0 |
| S GLOBAL INC | COM | 78409V104 |  | 518483 | 983 | SH |  | SOLE |  | 983 | 0 | 0 |
| UNITED RENTALS INC | COM | 911363109 |  | 514572 | 683 | SH |  | SOLE |  | 683 | 0 | 0 |
| VANGUARD WHITEHALL FDS | HIGH DIV YLD | 921946406 |  | 493247 | 3700 | SH |  | SOLE |  | 3700 | 0 | 0 |
| DANAHER CORPORATION | COM | 235851102 |  | 480328 | 2432 | SH |  | SOLE |  | 2432 | 0 | 0 |
| ACCENTURE PLC IRELAND | SHS CLASS A | G1151C101 |  | 451922 | 1512 | SH |  | SOLE |  | 1512 | 0 | 0 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 424659 | 756 | SH |  | SOLE |  | 756 | 0 | 0 |
| GREIF INC | CL B | 397624206 |  | 420352 | 6091 | SH |  | SOLE |  | 6091 | 0 | 0 |
| VANGUARD BD INDEX FDS | SHORT TRM BOND | 921937827 |  | 417870 | 5310 | SH |  | SOLE |  | 5310 | 0 | 0 |
| HONEYWELL INTL INC | COM | 438516106 |  | 407640 | 1750 | SH |  | SOLE |  | 1750 | 0 | 0 |
| ABBOTT LABS | COM | 002824100 |  | 403805 | 2969 | SH |  | SOLE |  | 2969 | 0 | 0 |
| CATERPILLAR INC | COM | 149123101 |  | 402788 | 1038 | SH |  | SOLE |  | 1038 | 0 | 0 |
| CSX CORP | COM | 126408103 |  | 401681 | 12310 | SH |  | SOLE |  | 12310 | 0 | 0 |
| BP PLC | SPONSORED ADR | 055622104 |  | 399711 | 13355 | SH |  | SOLE |  | 13353 | 0 | 2 |
| INTUIT | COM | 461202103 |  | 398857 | 506 | SH |  | SOLE |  | 506 | 0 | 0 |
| ISHARES TR | CORE S SCP ETF | 464287804 |  | 393226 | 3598 | SH |  | SOLE |  | 3598 | 0 | 0 |
| VANGUARD MUN BD FDS | TAX EXEMPT BD | 922907746 |  | 392789 | 8011 | SH |  | SOLE |  | 8011 | 0 | 0 |
| DEERE  CO | COM | 244199105 |  | 384389 | 756 | SH |  | SOLE |  | 756 | 0 | 0 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 379811 | 384 | SH |  | SOLE |  | 384 | 0 | 0 |
| GREEN BRICK PARTNERS INC | COM | 392709101 |  | 377280 | 6000 | SH |  | SOLE |  | 6000 | 0 | 0 |
| RTX CORPORATION | COM | 75513E101 |  | 364520 | 2496 | SH |  | SOLE |  | 2496 | 0 | 0 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 364123 | 1235 | SH |  | SOLE |  | 1235 | 0 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 363925 | 589 | SH |  | SOLE |  | 589 | 0 | 0 |
| CHUBB LIMITED | COM | H1467J104 |  | 353169 | 1219 | SH |  | SOLE |  | 1219 | 0 | 0 |
| SCHWAB STRATEGIC TR | FUNDAMENTAL INTL | 808524755 |  | 327742 | 8189 | SH |  | SOLE |  | 8189 | 0 | 0 |
| INTERCONTINENTAL EXCHANGE IN | COM | 45866F104 |  | 327238 | 1784 | SH |  | SOLE |  | 1784 | 0 | 0 |
| ILLINOIS TOOL WKS INC | COM | 452308109 |  | 317032 | 1282 | SH |  | SOLE |  | 1282 | 0 | 0 |
| UNION PAC CORP | COM | 907818108 |  | 303573 | 1319 | SH |  | SOLE |  | 1319 | 0 | 0 |
| BANK AMERICA CORP | COM | 060505104 |  | 292512 | 6182 | SH |  | SOLE |  | 2132 | 0 | 4050 |
| SYSCO CORP | COM | 871829107 |  | 277911 | 3669 | SH |  | SOLE |  | 3669 | 0 | 0 |
| CASEYS GEN STORES INC | COM | 147528103 |  | 274828 | 539 | SH |  | SOLE |  | 539 | 0 | 0 |
| WISDOMTREE TR | EMER MKT HIGH FD | 97717W315 |  | 267437 | 5905 | SH |  | SOLE |  | 5905 | 0 | 0 |
| SALESFORCE INC | COM | 79466L302 |  | 261978 | 961 | SH |  | SOLE |  | 961 | 0 | 0 |
| LOCKHEED MARTIN CORP | COM | 539830109 |  | 259148 | 560 | SH |  | SOLE |  | 560 | 0 | 0 |
| EATON CORP PLC | SHS | G29183103 |  | 258818 | 725 | SH |  | SOLE |  | 725 | 0 | 0 |
| SCHWAB STRATEGIC TR | SHT TM US TRES | 808524862 |  | 255454 | 10478 | SH |  | SOLE |  | 10478 | 0 | 0 |
| WERNER ENTERPRISES INC | COM | 950755108 |  | 250354 | 9150 | SH |  | SOLE |  | 9150 | 0 | 0 |
| TRAVELERS COMPANIES INC | COM | 89417E109 |  | 243581 | 910 | SH |  | SOLE |  | 910 | 0 | 0 |
| SCHWAB STRATEGIC TR | US AGGREGATE B | 808524839 |  | 232400 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| NORTHROP GRUMMAN CORP | COM | 666807102 |  | 224235 | 448 | SH |  | SOLE |  | 448 | 0 | 0 |
| LOWES COS INC | COM | 548661107 |  | 222755 | 1004 | SH |  | SOLE |  | 1004 | 0 | 0 |
| D R HORTON INC | COM | 23331A109 |  | 221356 | 1717 | SH |  | SOLE |  | 1717 | 0 | 0 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 219828 | 387 | SH |  | SOLE |  | 387 | 0 | 0 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 214783 | 3094 | SH |  | SOLE |  | 3094 | 0 | 0 |
| NEWMONT CORP | COM | 651639106 |  | 210832 | 3619 | SH |  | SOLE |  | 3619 | 0 | 0 |
| MONSTER BEVERAGE CORP NEW | COM | 61174X109 |  | 210470 | 3360 | SH |  | SOLE |  | 3360 | 0 | 0 |
| SCHWAB STRATEGIC TR | US SML CAP ETF | 808524607 |  | 207838 | 8215 | SH |  | SOLE |  | 8215 | 0 | 0 |
| VITESSE ENERGY INC | COMMON STOCK | 92852X103 |  | 207690 | 9402 | SH |  | SOLE |  | 9290 | 0 | 112 |
| ISHARES TR | MSCI INTL VLU FT | 46435G409 |  | 201583 | 6129 | SH |  | SOLE |  | 6129 | 0 | 0 |
| UNITED PARCEL SERVICE INC | CL B | 911312106 |  | 190677 | 1889 | SH |  | SOLE |  | 1889 | 0 | 0 |
| ECOLAB INC | COM | 278865100 |  | 190490 | 707 | SH |  | SOLE |  | 707 | 0 | 0 |
| KNIFE RIVER CORP | COMMON STOCK | 498894104 |  | 188343 | 2307 | SH |  | SOLE |  | 2307 | 0 | 0 |
| SPDR GOLD TR | GOLD SHS | 78463V107 |  | 187470 | 615 | SH |  | SOLE |  | 615 | 0 | 0 |
| LPL FINL HLDGS INC | COM | 50212V100 |  | 184860 | 493 | SH |  | SOLE |  | 493 | 0 | 0 |
| ADVANCED MICRO DEVICES INC | COM | 007903107 |  | 182767 | 1288 | SH |  | SOLE |  | 1287 | 0 | 1 |
| MDU RES GROUP INC | COM | 552690109 |  | 178583 | 10713 | SH |  | SOLE |  | 10713 | 0 | 0 |
| TEXAS INSTRS INC | COM | 882508104 |  | 175172 | 844 | SH |  | SOLE |  | 844 | 0 | 0 |
| SHELL PLC | SPON ADS | 780259305 |  | 170815 | 2426 | SH |  | SOLE |  | 2426 | 0 | 0 |
| APPLIED MATLS INC | COM | 038222105 |  | 167875 | 917 | SH |  | SOLE |  | 917 | 0 | 0 |
| AMERICAN TOWER CORP NEW | COM | 03027X100 |  | 167707 | 759 | SH |  | SOLE |  | 759 | 0 | 0 |
| ISHARES TR | CORE S MCP ETF | 464287507 |  | 164295 | 2649 | SH |  | SOLE |  | 2649 | 0 | 0 |
| ISHARES TR | US HOME CONS ETF | 464288752 |  | 153171 | 1644 | SH |  | SOLE |  | 1644 | 0 | 0 |
| GENERAL MTRS CO | COM | 37045V100 |  | 142611 | 2898 | SH |  | SOLE |  | 2365 | 0 | 533 |
| NIKE INC | CL B | 654106103 |  | 142222 | 2002 | SH |  | SOLE |  | 2002 | 0 | 0 |
| MONDELEZ INTL INC | CL A | 609207105 |  | 131203 | 1945 | SH |  | SOLE |  | 1199 | 0 | 747 |
| VANGUARD BD INDEX FDS | TOTAL BND MRKT | 921937835 |  | 124287 | 1688 | SH |  | SOLE |  | 1688 | 0 | 0 |
| HERSHEY CO | COM | 427866108 |  | 117343 | 707 | SH |  | SOLE |  | 707 | 0 | 0 |
| SUMMIT HOTEL PPTYS INC | COM | 866082100 |  | 114040 | 22405 | SH |  | SOLE |  | 22405 | 0 | 0 |
| VANGUARD INDEX FDS | REAL ESTATE ETF | 922908553 |  | 111182 | 1248 | SH |  | SOLE |  | 1248 | 0 | 0 |
| QUALCOMM INC | COM | 747525103 |  | 110367 | 693 | SH |  | SOLE |  | 693 | 0 | 0 |
| STARBUCKS CORP | COM | 855244109 |  | 102076 | 1114 | SH |  | SOLE |  | 1114 | 0 | 0 |
| NEW GOLD INC CDA | COM | 644535106 |  | 74250 | 15000 | SH |  | SOLE |  | 15000 | 0 | 0 |
| LINEAGE CELL THERAPEUTICS IN | COM | 53566P109 |  | 13611 | 15000 | SH |  | SOLE |  | 15000 | 0 | 0 |
| VANGUARD BD INDEX FDS | VANGUARD ULTRA | 92203C303 |  | 5647 | 113 | SH |  | SOLE |  | 113 | 0 | 0 |

---