Citadel Investment Advisory, Inc.
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed October 16, 2024), Citadel Investment Advisory, Inc. reported 80 stock positions worth $189.8 million. Its top holding was Berkshire Hathaway Class B (BRK.B) at 26.4% of the portfolio, followed by Markel (MKL, 13.1%) and Alphabet Class A (GOOGL, 4.4%). Compared with Q2 2024, it opened 1 new position, sold out of 2, added to 23 and reduced 31. The biggest buy was Berkshire Hathaway Class B (BRK.B, shares +1%) and the biggest sale Alphabet Class A (GOOGL, shares −7%).
- Most Recent 13F
- Q2 2026
- Location
- CHESTERLAND, OH
- CIK
- 0001811907
- Portfolio Value
- $189.8M (Q3 2024)
- SEC Filing
- 0001811907-24-000004 ↗ filed Oct 16, 2024
Holdings Value
Holdings 80 stocks · $189.8M
| BRK.B Berkshire Hathaway Inc. Class B | 26.44% | 109,017 | $50.2M | Add +1.2% |
| MKL Markel Group Inc. | 13.15% | 15,909 | $25.0M | Add +1.2% |
| GOOGL Alphabet Inc. Class A | 4.36% | 46,620 | $8.3M | Reduce -6.8% |
| MSFT Microsoft Corp. | 3.50% | 15,444 | $6.6M | Add +3.4% |
| GOOG Alphabet Inc. Class C | 2.72% | 30,830 | $5.2M | Reduce -1.6% |
| PM Philip Morris International | 2.65% | 41,491 | $5.0M | Add +1.2% |
| JNJ Johnson & Johnson | 2.09% | 24,501 | $4.0M | Add +2.1% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 2.05% | 17,626 | $3.9M | Reduce -0.2% |
| ORCL Oracle Corp. | 2.03% | 22,567 | $3.8M | Add +1.7% |
| MCO Moody's Corp. | 1.97% | 7,865 | $3.7M | No change |
| RTX RTX Corp. | 1.92% | 30,139 | $3.7M | Add +1.4% |
| MCD McDonald's Corp. | 1.76% | 10,993 | $3.3M | Add +4.0% |
| ABBV Abbvie Inc. | 1.69% | 16,244 | $3.2M | Add +2.5% |
| KO The Coca-Cola Co. | 1.64% | 43,178 | $3.1M | Add +1.5% |
| IPMLF Imperial Metals Corp. | 1.57% | 1,762,570 | $3.0M | Add +0.3% |
| MTD Mettler-Toledo International | 1.48% | 1,875 | $2.8M | No change |
| PEP Pepsico Inc. | 1.48% | 16,521 | $2.8M | Add +2.5% |
| GD General Dynamics Corp. | 1.40% | 8,821 | $2.7M | Add +4.5% |
| BKNG Booking Holdings Inc. | 1.33% | 598 | $2.5M | Reduce -0.7% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 1.28% | 25,351 | $2.4M | Add +1.9% |
| GS Goldman Sachs Group Inc. | 1.17% | 4,495 | $2.2M | Reduce -0.8% |
| Medtronic | 1.15% | 24,200 | $2.2M | Add +1.0% |
| MHK Mohawk Industries Inc. | 1.08% | 12,778 | $2.1M | Add +3.2% |
| JPM JPMorgan Chase & Co. | 0.99% | 8,936 | $1.9M | No change |
| AXP American Express Co. | 0.98% | 6,884 | $1.9M | No change |
| IDXX Idexx Laboratories Inc. | 0.98% | 3,685 | $1.9M | Reduce -0.3% |
| CSX CSX Corp. | 0.81% | 44,360 | $1.5M | Add +3.9% |
| BUD Anheuser-Busch Inbev-SPN ADR | 0.78% | 22,432 | $1.5M | Reduce -3.1% |
| LOW Lowe's Cos Inc. | 0.71% | 4,970 | $1.3M | Reduce -5.7% |
| DHR Danaher Corp. | 0.64% | 4,373 | $1.2M | No change |
| WFC Wells Fargo & Co. | 0.63% | 21,091 | $1.2M | Reduce -1.4% |
| ABT Abbott Laboratories | 0.58% | 9,714 | $1.1M | Add +5.4% |
| ETN Eaton Corp. PLC | 0.57% | 3,457 | $1.1M | No change |
| AMG Affiliated Managers Group | 0.55% | 5,889 | $1.0M | Reduce -2.5% |
| AMZN Amazon.com Inc. | 0.50% | 5,072 | $945K | Reduce -1.6% |
| CNI Canadian Natl Railway Co. | 0.49% | 8,011 | $938K | No change |
| SYY Sysco Corp. | 0.49% | 11,976 | $935K | Reduce -0.7% |
| HHC The Howard Hughes Corp. | 0.49% | 11,992 | $929K | Add +0.8% |
| JEF Jefferies Financial Group Inc. | 0.48% | 14,885 | $916K | No change |
| EG Everest Group Ltd. | 0.46% | 2,227 | $873K | Reduce -1.1% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.46% | 21,920 | $870K | Reduce -0.7% |
| John Marshall Bank | 0.41% | 39,800 | $787K | Add +0.5% |
| CMCSA Comcast Corp. Class A | 0.41% | 18,530 | $774K | Add +1.4% |
| LDOS Leidos Holdings Inc. | 0.39% | 4,517 | $736K | Reduce -2.2% |
| CEDAR FAIR LP | 0.38% | 17,925 | $723K | No change |
| PG The Procter & Gamble Co. | 0.38% | 4,162 | $721K | No change |
| UPS United Parcel Service Class A | 0.38% | 5,256 | $717K | Add +2.5% |
| VISTAPRINT N V | 0.37% | 8,675 | $711K | Reduce -2.3% |
| FISV Fiserv Inc. | 0.35% | 3,740 | $672K | No change |
| WYNN WYNN Resorts Ltd. | 0.34% | 6,761 | $648K | Reduce -6.9% |
| CACC Credit Acceptance Corp. | 0.31% | 1,312 | $582K | No change |
| MA Mastercard Inc. Class A | 0.30% | 1,155 | $570K | Reduce -2.1% |
| BA The Boeing Co. | 0.29% | 3,585 | $545K | Reduce -3.2% |
| WRB WR Berkley Corp. filed as BERKLEY W R CORP | 0.27% | 9,096 | $516K | No change |
| LECO Lincoln Electric Holdings | 0.26% | 2,595 | $498K | No change |
| WBD Warner Bros Discovery Inc. | 0.25% | 57,505 | $474K | Reduce -6.3% |
| META Meta Platforms Inc. Class A | 0.24% | 810 | $464K | No change |
| ESAB Esab Corp. | 0.24% | 4,258 | $453K | Reduce -3.0% |
| CI The Cigna Group | 0.21% | 1,179 | $408K | No change |
| FCN Fti Consulting Inc. | 0.20% | 1,670 | $380K | No change |
| AAPL Apple Inc. | 0.20% | 1,600 | $373K | No change |
| T AT&T Inc. | 0.19% | 16,726 | $368K | No change |
| MDLZ Mondelez International Inc. Class A | 0.19% | 4,870 | $359K | No change |
| BF.B Brown-Forman Corp. Class B | 0.18% | 6,804 | $335K | No change |
| INTC Intel Corp. | 0.16% | 13,032 | $306K | Reduce -0.2% |
| KHC The Kraft Heinz Co. | 0.16% | 8,465 | $297K | Reduce -3.0% |
| LBRDK Liberty Broadband-C | 0.15% | 3,661 | $283K | Reduce -5.5% |
| SEIC Sei Investments Company | 0.14% | 3,940 | $273K | Reduce -1.5% |
| WTW Willis Towers Watson PLC | 0.13% | 826 | $243K | No change |
| CABO Cable One Inc. | 0.13% | 688 | $241K | No change |
| KDP Keurig Dr Pepper Inc. | 0.12% | 6,045 | $227K | Add +3.4% |
| SIRI Sirius XM Holdings Inc. | 0.12% | 9,310 | $220K | New |
| LBYKV Liberty Global PLC-C-Wi | 0.11% | 9,921 | $214K | No change |
| ECHO Echostar Corp. Class A | 0.09% | 6,680 | $166K | Reduce -11.6% |
| WBA Walgreens Boots Alliance | 0.08% | 17,190 | $154K | Reduce -13.3% |
| LBYAV Liberty Global PLC-A-Wi | 0.08% | 7,058 | $149K | Reduce -6.2% |
| Ascent Industries Corp | 0.08% | 15,201 | $147K | No change |
| ENOV Enovis Corp. | 0.07% | 3,197 | $138K | Reduce -11.1% |
| AAP Advance Auto Parts Inc. | 0.05% | 2,400 | $94K | Reduce -5.0% |
| PARAA Paramount Global Class A | 0.05% | 8,873 | $94K | Reduce -4.3% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $462K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| CITIGROUP INC (C 6.875 PERP L) | Equity | 4,447 | $462K | Reduce -2.2% |
Total filed on the 13F, all lines: $190.2M.
Portfolio Sells Q2 2024 → Q3 2024
| GOOGL Alphabet Inc. Class A | Reduce -6.8% | 4.36% | −0.83 |
| GOOG Alphabet Inc. Class C | Reduce -1.6% | 2.72% | −0.56 |
| BA The Boeing Co. | Reduce -3.2% | 0.29% | −0.10 |
| LSXMK Liberty Media Cor-Siriusxm C | Sold out | 0.00% | −0.10 |
| WFC Wells Fargo & Co. | Reduce -1.4% | 0.63% | −0.10 |
| AMZN Amazon.com Inc. | Reduce -1.6% | 0.50% | −0.07 |
| INTC Intel Corp. | Reduce -0.2% | 0.16% | −0.07 |
| VISTAPRINT N V | Reduce -2.3% | 0.37% | −0.07 |
| WBA Walgreens Boots Alliance | Reduce -13.3% | 0.08% | −0.06 |
| LSXMA Liberty Media Cor-Siriusxm A | Sold out | 0.00% | −0.04 |
| IDXX Idexx Laboratories Inc. | Reduce -0.3% | 0.98% | −0.04 |
| BAC Bank of America Corp. | Reduce -0.7% | 0.46% | −0.04 |
| AAP Advance Auto Parts Inc. | Reduce -5.0% | 0.05% | −0.04 |
| BKNG Booking Holdings Inc. | Reduce -0.7% | 1.33% | −0.03 |
| WYNN WYNN Resorts Ltd. | Reduce -6.9% | 0.34% | −0.03 |
| EG Everest Group Ltd. | Reduce -1.1% | 0.46% | −0.03 |
| ENOV Enovis Corp. | Reduce -11.1% | 0.07% | −0.02 |
| WBD Warner Bros Discovery Inc. | Reduce -6.3% | 0.25% | −0.01 |
| PARAA Paramount Global Class A | Reduce -4.3% | 0.05% | −0.01 |
| SEIC Sei Investments Company | Reduce -1.5% | 0.14% | −0.00 |
| KHC The Kraft Heinz Co. | Reduce -3.0% | 0.16% | −0.00 |
| SYY Sysco Corp. | Reduce -0.7% | 0.49% | +0.00 |
| ESAB Esab Corp. | Reduce -3.0% | 0.24% | +0.00 |
| MA Mastercard Inc. Class A | Reduce -2.1% | 0.30% | +0.00 |
| LDOS Leidos Holdings Inc. | Reduce -2.2% | 0.39% | +0.00 |
| LBYAV Liberty Global PLC-A-Wi | Reduce -6.2% | 0.08% | +0.00 |
| GS Goldman Sachs Group Inc. | Reduce -0.8% | 1.17% | +0.01 |
| ECHO Echostar Corp. Class A | Reduce -11.6% | 0.09% | +0.01 |
| AMG Affiliated Managers Group | Reduce -2.5% | 0.55% | +0.01 |
| BUD Anheuser-Busch Inbev-SPN ADR | Reduce -3.1% | 0.78% | +0.02 |
| LBRDK Liberty Broadband-C | Reduce -5.5% | 0.15% | +0.03 |
| LOW Lowe's Cos Inc. | Reduce -5.7% | 0.71% | +0.05 |
| IBM Intl Business Machines Corp. | Reduce -0.2% | 2.05% | +0.31 |
Portfolio Buys Q2 2024 → Q3 2024
| BRK.B Berkshire Hathaway Inc. Class B | Add +1.2% | 26.44% | +1.47 |
| PM Philip Morris International | Add +1.2% | 2.65% | +0.29 |
| MHK Mohawk Industries Inc. | Add +3.2% | 1.08% | +0.28 |
| ORCL Oracle Corp. | Add +1.7% | 2.03% | +0.24 |
| MCD McDonald's Corp. | Add +4.0% | 1.76% | +0.23 |
| RTX RTX Corp. | Add +1.4% | 1.92% | +0.22 |
| ABBV Abbvie Inc. | Add +2.5% | 1.69% | +0.14 |
| SIRI Sirius XM Holdings Inc. | New | 0.12% | +0.12 |
| JNJ Johnson & Johnson | Add +2.1% | 2.09% | +0.09 |
| KO The Coca-Cola Co. | Add +1.5% | 1.64% | +0.09 |
| Medtronic | Add +1.0% | 1.15% | +0.07 |
| HHC The Howard Hughes Corp. | Add +0.8% | 0.49% | +0.05 |
| ABT Abbott Laboratories | Add +5.4% | 0.58% | +0.04 |
| John Marshall Bank | Add +0.5% | 0.41% | +0.02 |
| GD General Dynamics Corp. | Add +4.5% | 1.40% | +0.01 |
| KDP Keurig Dr Pepper Inc. | Add +3.4% | 0.12% | +0.01 |
| CMCSA Comcast Corp. Class A | Add +1.4% | 0.41% | −0.00 |
| CSX CSX Corp. | Add +3.9% | 0.81% | −0.01 |
| IPMLF Imperial Metals Corp. | Add +0.3% | 1.57% | −0.02 |
| UPS United Parcel Service Class A | Add +2.5% | 0.38% | −0.02 |
| PEP Pepsico Inc. | Add +2.5% | 1.48% | −0.03 |
| DIS The Walt Disney Co. | Add +1.9% | 1.28% | −0.12 |
| MSFT Microsoft Corp. | Add +3.4% | 3.50% | −0.30 |
| MKL Markel Group Inc. | Add +1.2% | 13.15% | −0.96 |
Notes & Other Activity Q2 2024 → Q3 2024
| CITIGROUP INC (C 6.875 PERP L) | Equity | Reduce -2.2% | 4,447 | $462K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 75 | $220.0M | BRK.B, MKL, GOOGL, GOOG, IPMLF |
| Q1 2026 | 77 | $209.2M | BRK.B, MKL, GOOGL, IPMLF, GOOG |
| Q4 2025 | 78 | $231.2M | BRK.B, MKL, GOOGL, IPMLF, GOOG |
| Q3 2025 | 81 | $217.7M | BRK.B, MKL, GOOGL, MSFT, IPMLF |
| Q2 2025 | 82 | $206.1M | BRK.B, MKL, GOOGL, MSFT, PM |
| Q1 2025 | 81 | $203.4M | BRK.B, MKL, GOOGL, PM, MSFT |
| Q4 2024 | 81 | $192.6M | BRK.B, MKL, GOOGL, MSFT, GOOG |
| Q3 2024 | 80 | $189.8M | BRK.B, MKL, GOOGL, MSFT, GOOG |
| Q2 2024 | 81 | $175.5M | BRK.B, MKL, GOOGL, MSFT, GOOG |
| Q1 2024 | 81 | $177.1M | BRK.B, MKL, GOOGL, MSFT, GOOG |