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ELKHORN PARTNERS LIMITED PARTNERSHIP — 13F Holdings & Portfolio

CIK 928400 · latest 13F-HR filed 2026-08-13

Backtest portfolio

ELKHORN PARTNERS LIMITED PARTNERSHIP manages $116.7M in 13F-reported U.S. long-equity assets across 50 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are BRK.A (32.08%), BRK.B (23.42%), WTM (21.89%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 12 new positions and exited 10; 21 existing positions rose in reported value and 10 fell.

AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.

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AUM
$116.7M

Long-equity book

Holdings
50

Distinct positions

Period
2026-06-30

Filed 2026-08-13

Q/Q Activity
+12 / −10 / ↑21 / ↓10

vs 2026-03-31

Portfolio charts

Latest quarter's book, what changed, and how the portfolio has evolved across filings.

Portfolio map

Q2 26
BRK.A32.1% · 0%BRK.B23.4% · +0%WTM21.9% · -3%GOOGL4.8% · -2%GOOG4.4% · 0%AAPL2.9% · -2%CDZI2.3% · +2%BA0.9% · 0%CME0.9% · newKMB0.8% · +26%C0.7% · -3%IFF0.5% · -4%QXO0.4% · +2082%FOX0.3% · newMETA0.3% · -7%PANW0.3% · -33%ADBE0.3% · +38%MSFT0.3% · +47%UBER0.3% · +62%CRM0.2% · +23%PFE0.2% · +15%BSX0.2% · newNFLX0.1% · +35%DD0.1% · -64%AMZN0.1% · -18%UNH0.1% · -30%FPH0.1% · +10%ACTG0.1% · 0%CRSP0.1% · +5%GEHC0.1% · newNOW0.1% · -23%BABA0.1% · +200%NVDA0.1% · +40%BATRK0.1% · 0%HSY0.1% · newCRDF0.1% · +8%MAX0.0% · -80%DOW0.0% · -9%OXY0.0% · +43%SHAK0.0% · newNEPH0.0% · -8%PSUS0.0% · newAXP0.0% · -71%RDI0.0% · 0%CABO0.0% · newFGNX0.0% · +138%FORR0.0% · -40%BHVN0.0% · -45%MLCI0.0% · newCREX0.0% · 0%

Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.

Sector mix

% of 13F value

Sectors from each company's SIC code; funds and ETFs grouped separately.

Biggest buys and sells

Q1 26 → Q2 26

Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.

13F assets and positions

4 quarters

Total reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.

Top positions over time

reported value

The eight largest current positions, valued at each quarter end.

Concentration

top 10 = 94.4%

Cumulative share of the portfolio held in the largest N positions.

Firm Profile & Key People

As of the firm’s regulatory filing dated Mar 21, 2018.

Assets Under Management
$237.9M
Discretionary
$237.0M
Employees
5
Accounts
5
Address
845 W WASHINGTON BLVD
THIRD FLOOR
CHICAGO, IL 60607
Phone
(630) 355-4676
Website
Name Title / Status Ownership Type
ELKHORN CAPITAL GROUP, LLC ControlSOLE MEMBER
since Feb 2013
75% or moreDomestic Entity
FULTON, BENJAMIN, THOMAS ControlCEO & CCO
since May 2013
Less than 5%Individual
ZIESEMER, PHILIP, LEE ControlCOO
since Feb 2013
Less than 5%Individual
FULTON, BENJAMIN, THOMAS Control
Indirect owner via ELKHORN CAPITAL GROUP, LLC
MANAGING MEMBER
since May 2013
50–75%Individual
ZIESEMER, PHILIP, LEE Control
Indirect owner via ELKHORN CAPITAL GROUP, LLC
MANAGING MEMBER
since Feb 2013
25–50%Individual
CABLE MOUNTAIN PARTNERS LLC
Indirect owner via ELKHORN CAPITAL GROUP
MINORITY OWNER
since May 2016
25–50%Domestic Entity
Ownership & leadership changes · 4 filings with changes since Aug 19, 2013

From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.

Mar 21, 2018 filing
  • No longer listedKEYSTONE ASSOCIATES, LLC · MINORITY OWNER · 25–50% · indirect via ELKHORN CAPITAL GROUP, LLC · control person · listed since Feb 2016
Apr 28, 2017 filing
  • AddedCABLE MOUNTAIN PARTNERS LLC · MINORITY OWNER · 25–50% · indirect via ELKHORN CAPITAL GROUP
  • ChangedKEYSTONE ASSOCIATES, LLC · indirect via ELKHORN CAPITAL GROUP, LLC: title OWNER → MINORITY OWNER
Mar 31, 2016 filing
  • AddedKEYSTONE ASSOCIATES, LLC · OWNER · 25–50% · indirect via ELKHORN CAPITAL GROUP, LLC · control person
Aug 8, 2014 filing
  • No longer listedBNP PARIBAS NORTH AMERICA, INC · MEMBER · General partner, trustee or manager · indirect via ELKHORN CAPITAL GROUP, LLC · control person · listed since Aug 2013
Aug 19, 2013 filing (earliest on record)
  • ListedBNP PARIBAS NORTH AMERICA, INC · MEMBER · General partner, trustee or manager · indirect via ELKHORN CAPITAL GROUP, LLC · control person
  • ListedELKHORN CAPITAL GROUP, LLC · SOLE MEMBER · 75% or more · control person
  • ListedFULTON, BENJAMIN, THOMAS · CEO & CCO · Less than 5% · control person
  • ListedFULTON, BENJAMIN, THOMAS · MANAGING MEMBER · 50–75% · indirect via ELKHORN CAPITAL GROUP, LLC · control person
  • ListedZIESEMER, PHILIP, LEE · COO · Less than 5% · control person
  • ListedZIESEMER, PHILIP, LEE · MANAGING MEMBER · 25–50% · indirect via ELKHORN CAPITAL GROUP, LLC · control person

Quarter-over-quarter changes

Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.

Top Adds (vs prior quarter)

Show all 21 →

Top Trims

Show all 10 →

New Positions

Show all 12 →

Exited Positions

Show all 10 →

ELKHORN PARTNERS LIMITED PARTNERSHIP Holdings (2026-06-30)

Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).

# Issuer Symbol CUSIP Value Weight Shares Type
1 BERKSHIRE HATHAWAY INC DEL BRK.A 084670108 $37.4M 32.08% 50 SH
2 BERKSHIRE HATHAWAY INC DEL BRK.B 084670702 $27.3M 23.42% 54,630 SH
3 WHITE MTNS INS GROUP LTD WTM G9618E107 $25.5M 21.89% 12,320 SH
4 ALPHABET INC CAP STK GOOGL 02079K305 $5.6M 4.78% 15,600 SH
5 ALPHABET INC CAP STK GOOG 02079K107 $5.1M 4.39% 14,500 SH
6 APPLE INC AAPL 037833100 $3.4M 2.93% 11,800 SH
7 CADIZ INC CDZI 127537207 $2.7M 2.35% 656,000 SH
8 BOEING CO BA 097023105 $1.1M 0.91% 4,900 SH
9 CME GROUP INC CME 12572Q105 $993.7K 0.85% 4,500 SH
10 KIMBERLY CLARK CORP KMB 494368103 $944.0K 0.81% 8,600 SH
11 CITIGROUP INC C 172967424 $825.8K 0.71% 5,900 SH
12 INTERNATIONAL FLAVORS&FRAGRA IFF 459506101 $625.8K 0.54% 7,900 SH
13 QXO INC QXO 82846H405 $414.7K 0.36% 24,000 SH
14 FOX CORP CL B FOX 35137L204 $374.7K 0.32% 8,000 SH
15 FACEBOOK INC. META 30303M102 $366.1K 0.31% 650 SH
16 PALO ALTO NETWORKS INC PANW 697435105 $341.0K 0.29% 1,000 SH
17 ADOBE SYSTEMS INCORPORATED ADBE 00724F101 $338.3K 0.29% 1,650 SH
18 MICROSOFT CORP MSFT 594918104 $309.6K 0.27% 830 SH
19 UBER TECHNOLOGIES INC UBER 90353T100 $303.1K 0.26% 4,200 SH
20 SALESFORCE INC CRM 79466L302 $250.7K 0.21% 1,600 SH
21 PFIZER INC PFE 717081103 $204.7K 0.18% 8,500 SH
22 BOSTON SCIENTIFIC CORP BSX 101137107 $192.1K 0.16% 4,500 SH
23 NETFLIX INC NFLX 64110L106 $164.2K 0.14% 2,300 SH
24 DUPONT DE NEMOURS INC DD 26614N201 $162.8K 0.14% 1,200 SH
25 AMAZON COM INC AMZN 023135106 $143.0K 0.12% 600 SH
26 UNITEDHEALTH GROUP INC UNH 91324P102 $137.2K 0.12% 330 SH
27 FIVE POINT HOLDINGS LLC COM FPH 33833Q106 $121.2K 0.10% 23,000 SH
28 ACACIA RESH CORP ACACIA TCH ACTG 003881307 $116.5K 0.10% 25,000 SH
29 CRISPR THERAPEUTICS AG NAMEN CRSP H17182108 $109.1K 0.09% 2,000 SH
30 GE HEALTHCARE TECHNOLOGIES GEHC 36266G107 $102.4K 0.09% 1,600 SH
31 SERVICENOW INC NOW 81762P102 $99.3K 0.09% 1,000 SH
32 ALIBABA GROUP HLDG LTD BABA 01609W102 $86.4K 0.07% 900 SH
33 NVIDIA CORPORATION NVDA 67066G104 $84.0K 0.07% 420 SH
34 ATLANTA BRAVES HLDGS INC BATRK 047726302 $83.0K 0.07% 1,600 SH
35 HERSHEY CO HSY 427866108 $70.2K 0.06% 400 SH
36 CARDIFF ONCOLOGY INC CRDF 14147L108 $62.4K 0.05% 48,000 SH
37 MEDIAALPHA INC MAX 58450V104 $56.6K 0.05% 4,500 SH
38 DOW INC DOW 260557103 $54.7K 0.05% 2,000 SH
39 OCCIDENTAL PETE CORP OXY 674599105 $48.6K 0.04% 1,000 SH
40 SHAKE SHACK INC. SHAK 819047101 $44.8K 0.04% 800 SH
41 NEPHROS INC NEPH 640671400 $39.3K 0.03% 11,000 SH
42 PERSHING SQUARE USA LTD PSUS 71531T105 $37.4K 0.03% 1,000 SH
43 AMERICAN EXPRESS CO AXP 025816109 $33.8K 0.03% 100 SH
44 READING INTL INC RDI 755408101 $33.3K 0.03% 26,000 SH
45 CABLE ONE INC CABO 12685J105 $29.2K 0.03% 550 SH
46 FG NEXUS INC FGNX 30329Y403 $25.9K 0.02% 5,000 SH
47 FORRESTER RESH INC FORR 346563109 $25.2K 0.02% 3,000 SH
48 BIOHAVEN LTD BHVN G1110E107 $16.4K 0.01% 1,100 SH
49 MOUNT LOGAN CAP INC MLCI 62188E103 $5.2K 0.00% 1,500 SH
50 CREATIVE REALITIES INC CREX 22530J309 $62 0.00% 15 SH
Filing History
Period Filed AUM Holdings Accession
2026-06-30 2026-08-13 $116.7M 50 0000900440-26-000043
2026-03-31 2026-05-14 $157.1M 48 0000900440-26-000041
2025-12-31 2026-02-17 $158.3M 50 0000900440-26-000011
2025-09-30 2025-11-13 $147.3M 37 0000928400-25-000002
Filer Information
Address
ELKHORN PARTNERS LIMITED PARTNERSHIP
8405 INDIAN HILLS DRIVE, #2A8
OMAHA, NE 68114
Phone
(402) 289-3217
Filing Manager
ELKHORN PARTNERS LIMITED PARTNERSHIP
OMAHA, NE
Signatory
Alan S. Parsow
Sole Manager of Parsow Management LLC, the General Partner