PECAUT & CO.

FIRM OVERVIEW Pecaut & Co. is a registered investment advisory firm headquartered in Omaha, Nebraska, embodying the value-oriented investment philosophy closely associated with the region's storied investment tradition. Founded by Daniel Pecaut, the firm operates with a long-term, owner-oriented approach to wealth management, serving high-net-worth individuals and families seeking patient capital appreciation through disciplined equity selection. The firm's Omaha location places it in the same investment ecosystem as Berkshire Hathaway, and its philosophy reflects many of the principles championed by that tradition. As an SEC-registered advisor filing 13F reports under CIK #0001597200, Pecaut & Co. provides quarterly disclosure of its qualifying U.S. equity holdings, offering visibility into its investment convictions. The platform's 13F History capabilities allow users to examine the firm's disclosed positions over multiple years, providing insight into its characteristic patience and consistency. PECAUT & CO. INVESTMENT STRATEGY Pecaut & Co. employs a classic value investing philosophy rooted in fundamental analysis and long-term business ownership principles. The firm's approach emphasizes identifying high-quality companies with durable competitive advantages, capable management teams, and attractive valuations relative to intrinsic value. This methodology prioritizes patience over activity, with portfolio turnover maintained at notably low levels consistent with a buy-and-hold orientation. The firm is known for its expertise in analyzing Berkshire Hathaway and the broader application of Warren Buffett's investment principles. Observable patterns in the **13F Portfolio Composition** suggest meaningful exposure to financial services and consumer-facing businesses—sectors offering compounding potential through established franchises and recurring revenue characteristics. The **Sector Allocation History** available through the platform reveals the firm's consistency in maintaining exposure to high-quality businesses rather than rotating tactically between sectors based on short-term considerations. RISK PROFILE The firm's value-oriented, low-turnover investment approach suggests a risk profile characterized by long-term orientation and tolerance for near-term price volatility in service of ultimate value realization. Buy-and-hold strategies emphasizing quality businesses historically exhibit different drawdown characteristics than more active approaches, often experiencing meaningful paper losses during market corrections while maintaining conviction through recovery periods. The concentrated yet quality-focused portfolio construction implies meaningful position-level volatility balanced against the defensive characteristics inherent in owning businesses with strong balance sheets and durable earnings power. Users can evaluate **Max Drawdown Depth** through the platform's backtesting tools to assess how a portfolio replicating Pecaut & Co.'s disclosed holdings would have weathered historical market stress events. The **Downside Capture Ratio** metric offers perspective on the firm's defensive characteristics during broad market declines. ANALYTICS SUMMARY Pecaut & Co. represents an Omaha-based investment advisor practicing value investing principles with patient, owner-oriented discipline. The firm's 13F disclosures reveal a portfolio constructed with emphasis on quality businesses held for extended periods, consistent with the long-term compounding philosophy associated with the Midwest value investing tradition. Daniel Pecaut's expertise includes publishing annual analysis of Berkshire Hathaway shareholder meetings, reinforcing the firm's intellectual alignment with fundamental value principles. Key analytical tools accessible through the platform include **Annualized Return (CAGR)** calculations for historical replication analysis and **Sharpe Ratio** assessment to evaluate risk-adjusted compounding behavior over extended periods. The **Top 10 Holdings Concentration** metric illuminates conviction levels, likely revealing concentrated positions in highest-conviction ideas consistent with focused value investing. These capabilities enable users to contextualize the firm's approach within broader market dynamics. A central question for ongoing analysis: How does Pecaut & Co.'s patient, quality-focused approach perform across different valuation regimes, and do observable position changes suggest opportunistic accumulation during market dislocations or steadfast holding through volatility cycles?

Pecaut & Co. reported $308M in 13F assets as of 2026 Q1. Note: 13F AUM reflects only long equity positions reported to the SEC and may differ from total assets under management.

Pecaut & Co. holds 66 disclosed positions. The top 10 holdings represent +57.27% of the reported portfolio, indicating a highly concentrated investment approach.

Track Pecaut & Co.'s quarterly filings on SEC EDGAR or on this page — data is updated within days of each filing deadline. Subscribe to 13Foresight for position-change alerts.

Pecaut & Co. is managed by Daniel Pecaut (President & Chief Executive Officer), Corey Wrenn (Vice President & Portfolio Manager).