Citadel Investment Advisory, Inc.
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed January 24, 2025), Citadel Investment Advisory, Inc. reported 81 stock positions worth $192.6 million. Its top holding was Berkshire Hathaway Class B (BRK.B) at 25.7% of the portfolio, followed by Markel (MKL, 14.3%) and Alphabet Class A (GOOGL, 4.9%). Compared with Q3 2024, it opened 2 new positions, sold out of 1, added to 17 and reduced 38. The biggest buy was Markel (MKL, shares +0%) and the biggest sale Mettler-Toledo International (MTD, shares −0%).
- Most Recent 13F
- Q2 2026
- Location
- CHESTERLAND, OH
- CIK
- 0001811907
- Portfolio Value
- $192.6M (Q4 2024)
- SEC Filing
- 0001811907-25-000001 ↗ filed Jan 24, 2025
Holdings Value
Holdings 81 stocks · $192.6M
| BRK.B Berkshire Hathaway Inc. Class B | 25.74% | 109,355 | $49.6M | Add +0.3% |
| MKL Markel Group Inc. | 14.29% | 15,939 | $27.5M | Add +0.2% |
| GOOGL Alphabet Inc. Class A | 4.89% | 49,720 | $9.4M | Add +6.7% |
| MSFT Microsoft Corp. | 3.47% | 15,846 | $6.7M | Add +2.6% |
| GOOG Alphabet Inc. Class C | 2.98% | 30,115 | $5.7M | Reduce -2.3% |
| PM Philip Morris International | 2.59% | 41,391 | $5.0M | Reduce -0.2% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 2.02% | 17,716 | $3.9M | Add +0.5% |
| ORCL Oracle Corp. | 1.98% | 22,831 | $3.8M | Add +1.2% |
| MCO Moody's Corp. | 1.96% | 7,985 | $3.8M | Add +1.5% |
| JNJ Johnson & Johnson | 1.84% | 24,531 | $3.5M | Add +0.1% |
| RTX RTX Corp. | 1.81% | 30,069 | $3.5M | Reduce -0.2% |
| ABBV Abbvie Inc. | 1.70% | 18,381 | $3.3M | Add +13.2% |
| MCD McDonald's Corp. | 1.69% | 11,199 | $3.2M | Add +1.9% |
| BKNG Booking Holdings Inc. | 1.54% | 597 | $3.0M | Reduce -0.2% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 1.46% | 25,232 | $2.8M | Reduce -0.5% |
| KO The Coca-Cola Co. | 1.39% | 43,087 | $2.7M | Reduce -0.2% |
| PEP Pepsico Inc. | 1.32% | 16,671 | $2.5M | Add +0.9% |
| GS Goldman Sachs Group Inc. | 1.31% | 4,410 | $2.5M | Reduce -1.9% |
| CEDAR FAIR LP | 1.25% | 49,902 | $2.4M | Add +178.4% |
| GD General Dynamics Corp. | 1.22% | 8,906 | $2.3M | Add +1.0% |
| MTD Mettler-Toledo International | 1.19% | 1,870 | $2.3M | Reduce -0.3% |
| IPMLF Imperial Metals Corp. | 1.14% | 1,763,562 | $2.2M | Add +0.1% |
| JPM JPMorgan Chase & Co. | 1.11% | 8,886 | $2.1M | Reduce -0.6% |
| AXP American Express Co. | 1.06% | 6,884 | $2.0M | No change |
| Medtronic | 0.98% | 23,615 | $1.9M | Reduce -2.4% |
| MHK Mohawk Industries Inc. | 0.79% | 12,748 | $1.5M | Reduce -0.2% |
| IDXX Idexx Laboratories Inc. | 0.79% | 3,660 | $1.5M | Reduce -0.7% |
| WFC Wells Fargo & Co. | 0.77% | 21,041 | $1.5M | Reduce -0.2% |
| CSX CSX Corp. | 0.75% | 44,660 | $1.4M | Add +0.7% |
| CACC Credit Acceptance Corp. | 0.68% | 2,802 | $1.3M | Add +113.6% |
| LOW Lowe's Cos Inc. | 0.64% | 4,970 | $1.2M | No change |
| JEF Jefferies Financial Group Inc. | 0.60% | 14,785 | $1.2M | Reduce -0.7% |
| ETN Eaton Corp. PLC | 0.60% | 3,457 | $1.1M | No change |
| BUD Anheuser-Busch Inbev-SPN ADR | 0.58% | 2,257 | $1.1M | Reduce -89.9% |
| AMZN Amazon.com Inc. | 0.58% | 5,072 | $1.1M | No change |
| AMG Affiliated Managers Group | 0.57% | 5,889 | $1.1M | No change |
| ABT Abbott Laboratories | 0.56% | 9,614 | $1.1M | Reduce -1.0% |
| DHR Danaher Corp. | 0.52% | 4,373 | $1.0M | No change |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.50% | 21,895 | $962K | Reduce -0.1% |
| HHC The Howard Hughes Corp. | 0.48% | 11,992 | $922K | No change |
| SYY Sysco Corp. | 0.47% | 11,876 | $908K | Reduce -0.8% |
| CNI Canadian Natl Railway Co. | 0.42% | 7,961 | $808K | Reduce -0.6% |
| EG Everest Group Ltd. | 0.42% | 2,227 | $807K | No change |
| John Marshall Bank | 0.41% | 39,400 | $791K | Reduce -1.0% |
| FISV Fiserv Inc. | 0.39% | 3,640 | $748K | Reduce -2.7% |
| PG The Procter & Gamble Co. | 0.36% | 4,162 | $698K | No change |
| CMCSA Comcast Corp. Class A | 0.35% | 17,880 | $671K | Reduce -3.5% |
| LDOS Leidos Holdings Inc. | 0.34% | 4,517 | $651K | No change |
| BA The Boeing Co. | 0.33% | 3,585 | $635K | No change |
| VISTAPRINT N V | 0.32% | 8,675 | $622K | No change |
| MA Mastercard Inc. Class A | 0.32% | 1,155 | $608K | No change |
| UPS United Parcel Service Class A | 0.31% | 4,756 | $600K | Reduce -9.5% |
| WBD Warner Bros Discovery Inc. | 0.30% | 55,364 | $585K | Reduce -3.7% |
| WYNN WYNN Resorts Ltd. | 0.28% | 6,286 | $542K | Reduce -7.0% |
| WRB WR Berkley Corp. filed as BERKLEY W R CORP | 0.28% | 9,096 | $532K | No change |
| ESAB Esab Corp. | 0.25% | 4,026 | $483K | Reduce -5.5% |
| META Meta Platforms Inc. Class A | 0.25% | 810 | $474K | No change |
| LECO Lincoln Electric Holdings | 0.23% | 2,345 | $440K | Reduce -9.6% |
| AAPL Apple Inc. | 0.21% | 1,600 | $401K | No change |
| T AT&T Inc. | 0.20% | 16,537 | $377K | Reduce -1.1% |
| SEIC Sei Investments Company | 0.17% | 3,940 | $325K | No change |
| FCN Fti Consulting Inc. | 0.17% | 1,670 | $319K | No change |
| CI The Cigna Group | 0.16% | 1,131 | $312K | Reduce -4.1% |
| MDLZ Mondelez International Inc. Class A | 0.15% | 4,870 | $291K | No change |
| LBRDK Liberty Broadband-C | 0.14% | 3,661 | $274K | No change |
| WTW Willis Towers Watson PLC | 0.13% | 826 | $259K | No change |
| BF.B Brown-Forman Corp. Class B | 0.13% | 6,804 | $258K | No change |
| CABO Cable One Inc. | 0.13% | 675 | $244K | Reduce -1.9% |
| KHC The Kraft Heinz Co. | 0.12% | 7,616 | $234K | Reduce -10.0% |
| INTC Intel Corp. | 0.12% | 11,485 | $230K | Reduce -11.9% |
| PNFP Pinnacle Financial Partners | 0.11% | 1,909 | $218K | New |
| SIRI Sirius XM Holdings Inc. | 0.11% | 9,310 | $212K | No change |
| WTM White Mountains Insurance GP | 0.10% | 100 | $195K | New |
| KDP Keurig Dr Pepper Inc. | 0.10% | 6,045 | $194K | No change |
| Ascent Industries Corp | 0.09% | 14,701 | $164K | Reduce -3.3% |
| ENOV Enovis Corp. | 0.07% | 3,055 | $134K | Reduce -4.4% |
| LBYKV Liberty Global PLC-C-Wi | 0.07% | 9,683 | $127K | Reduce -2.4% |
| ECHO Echostar Corp. Class A | 0.06% | 4,982 | $114K | Reduce -25.4% |
| AAP Advance Auto Parts Inc. | 0.06% | 2,300 | $109K | Reduce -4.2% |
| LBYAV Liberty Global PLC-A-Wi | 0.05% | 7,158 | $91K | Add +1.4% |
| PARAA Paramount Global Class A | 0.04% | 8,090 | $85K | Reduce -8.8% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $400K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| CITIGROUP INC (C 6.875 PERP L) | Equity | 4,397 | $400K | Reduce -1.1% |
Total filed on the 13F, all lines: $193.0M.
Portfolio Sells Q3 2024 → Q4 2024
| MTD Mettler-Toledo International | Reduce -0.3% | 1.19% | −0.29 |
| MHK Mohawk Industries Inc. | Reduce -0.2% | 0.79% | −0.29 |
| KO The Coca-Cola Co. | Reduce -0.2% | 1.39% | −0.24 |
| BUD Anheuser-Busch Inbev-SPN ADR | Reduce -89.9% | 0.58% | −0.21 |
| IDXX Idexx Laboratories Inc. | Reduce -0.7% | 0.79% | −0.20 |
| Medtronic | Reduce -2.4% | 0.98% | −0.17 |
| RTX RTX Corp. | Reduce -0.2% | 1.81% | −0.12 |
| WBA Walgreens Boots Alliance | Sold out | 0.00% | −0.08 |
| CNI Canadian Natl Railway Co. | Reduce -0.6% | 0.42% | −0.07 |
| PM Philip Morris International | Reduce -0.2% | 2.59% | −0.07 |
| UPS United Parcel Service Class A | Reduce -9.5% | 0.31% | −0.07 |
| WYNN WYNN Resorts Ltd. | Reduce -7.0% | 0.28% | −0.06 |
| CMCSA Comcast Corp. Class A | Reduce -3.5% | 0.35% | −0.06 |
| CI The Cigna Group | Reduce -4.1% | 0.16% | −0.05 |
| LBYKV Liberty Global PLC-C-Wi | Reduce -2.4% | 0.07% | −0.05 |
| INTC Intel Corp. | Reduce -11.9% | 0.12% | −0.04 |
| KHC The Kraft Heinz Co. | Reduce -10.0% | 0.12% | −0.04 |
| LECO Lincoln Electric Holdings | Reduce -9.6% | 0.23% | −0.03 |
| ECHO Echostar Corp. Class A | Reduce -25.4% | 0.06% | −0.03 |
| SYY Sysco Corp. | Reduce -0.8% | 0.47% | −0.02 |
| ABT Abbott Laboratories | Reduce -1.0% | 0.56% | −0.02 |
| PARAA Paramount Global Class A | Reduce -8.8% | 0.04% | −0.01 |
| John Marshall Bank | Reduce -1.0% | 0.41% | −0.00 |
| ENOV Enovis Corp. | Reduce -4.4% | 0.07% | −0.00 |
| CABO Cable One Inc. | Reduce -1.9% | 0.13% | −0.00 |
| T AT&T Inc. | Reduce -1.1% | 0.20% | +0.00 |
| AAP Advance Auto Parts Inc. | Reduce -4.2% | 0.06% | +0.01 |
| Ascent Industries Corp | Reduce -3.3% | 0.09% | +0.01 |
| ESAB Esab Corp. | Reduce -5.5% | 0.25% | +0.01 |
| FISV Fiserv Inc. | Reduce -2.7% | 0.39% | +0.03 |
| BAC Bank of America Corp. | Reduce -0.1% | 0.50% | +0.04 |
| WBD Warner Bros Discovery Inc. | Reduce -3.7% | 0.30% | +0.05 |
| JPM JPMorgan Chase & Co. | Reduce -0.6% | 1.11% | +0.11 |
| JEF Jefferies Financial Group Inc. | Reduce -0.7% | 0.60% | +0.12 |
| GS Goldman Sachs Group Inc. | Reduce -1.9% | 1.31% | +0.14 |
| WFC Wells Fargo & Co. | Reduce -0.2% | 0.77% | +0.14 |
| DIS The Walt Disney Co. | Reduce -0.5% | 1.46% | +0.17 |
| BKNG Booking Holdings Inc. | Reduce -0.2% | 1.54% | +0.21 |
| GOOG Alphabet Inc. Class C | Reduce -2.3% | 2.98% | +0.26 |
Portfolio Buys Q3 2024 → Q4 2024
| MKL Markel Group Inc. | Add +0.2% | 14.29% | +1.14 |
| CEDAR FAIR LP | Add +178.4% | 1.25% | +0.87 |
| GOOGL Alphabet Inc. Class A | Add +6.7% | 4.89% | +0.52 |
| CACC Credit Acceptance Corp. | Add +113.6% | 0.68% | +0.38 |
| PNFP Pinnacle Financial Partners | New | 0.11% | +0.11 |
| WTM White Mountains Insurance GP | New | 0.10% | +0.10 |
| ABBV Abbvie Inc. | Add +13.2% | 1.70% | +0.01 |
| MCO Moody's Corp. | Add +1.5% | 1.96% | −0.00 |
| IBM Intl Business Machines Corp. | Add +0.5% | 2.02% | −0.03 |
| LBYAV Liberty Global PLC-A-Wi | Add +1.4% | 0.05% | −0.03 |
| MSFT Microsoft Corp. | Add +2.6% | 3.47% | −0.03 |
| ORCL Oracle Corp. | Add +1.2% | 1.98% | −0.05 |
| CSX CSX Corp. | Add +0.7% | 0.75% | −0.06 |
| MCD McDonald's Corp. | Add +1.9% | 1.69% | −0.08 |
| PEP Pepsico Inc. | Add +0.9% | 1.32% | −0.16 |
| GD General Dynamics Corp. | Add +1.0% | 1.22% | −0.19 |
| JNJ Johnson & Johnson | Add +0.1% | 1.84% | −0.25 |
| IPMLF Imperial Metals Corp. | Add +0.1% | 1.14% | −0.42 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +0.3% | 25.74% | −0.70 |
Notes & Other Activity Q3 2024 → Q4 2024
| CITIGROUP INC (C 6.875 PERP L) | Equity | Reduce -1.1% | 4,397 | $400K |
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 |