Culbertson A N & Co. Inc.

Q2 2026Q1 2026Q4 2025Q3 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 11, 2025), Culbertson A N & Co. Inc. reported 126 stock positions worth $651.3 million. Its top holding was Berkshire Hathaway Class B (BRK.B) at 8.2% of the portfolio, followed by Microsoft (MSFT, 6.4%) and Apple (AAPL, 5.7%). Compared with Q1 2025, it opened 4 new positions, sold out of 1, added to 34 and reduced 70. The biggest buy was Markel (MKL, shares +70%) and the biggest sale Apple (AAPL, shares −2%).

Most Recent 13F: Q2 2026
Location: Charlottesville, VA
CIK: 0001224890
Portfolio Value: $651.3M (Q2 2025)
SEC Filing: 0001172661-25-002996 ↗ filed Aug 11, 2025

Holdings Value

Holdings 126 stocks · $651.3M


BRK.B Berkshire Hathaway Inc. Class B	8.22%	110,148	$53.5M	Add +0.3%
MSFT Microsoft Corp.	6.44%	84,292	$41.9M	Reduce -1.7%
AAPL Apple Inc.	5.74%	182,066	$37.4M	Reduce -2.5%
JPM JPMorgan Chase & Co.	5.16%	115,887	$33.6M	Reduce -1.7%
GS Goldman Sachs Group Inc.	2.98%	27,429	$19.4M	Reduce -0.7%
ORCL Oracle Corp.	2.61%	77,697	$17.0M	Reduce -1.0%
CAT Caterpillar Inc.	2.45%	41,121	$16.0M	Reduce -1.5%
IWR iShares Russell Mid-Cap ETF	2.40%	169,916	$15.6M	Reduce -0.8%
MCK McKesson Corp.	2.36%	21,015	$15.4M	Reduce -0.2%
ABBV Abbvie Inc.	1.95%	68,356	$12.7M	Reduce -2.9%
ABT Abbott Laboratories	1.92%	92,033	$12.5M	Reduce -0.8%
DE Deere & Co.	1.88%	24,025	$12.2M	Reduce -0.7%
GOOG Alphabet Inc. Class C	1.86%	68,463	$12.1M	Reduce -1.2%
VTI VG Morningstar TS MKT ETF-US	1.86%	39,776	$12.1M	Reduce -1.4%
CMI Cummins Inc.	1.77%	35,253	$11.5M	Reduce -1.3%
JNJ Johnson & Johnson	1.76%	75,002	$11.5M	Reduce -0.8%
MCD McDonald's Corp.	1.68%	37,368	$10.9M	Reduce -1.4%
PG The Procter & Gamble Co.	1.49%	60,930	$9.7M	Reduce -2.4%
CVX Chevron Corp.	1.42%	64,502	$9.2M	Add +1.8%
VB Vanguard Most SM-Cap ETF-Usd	1.42%	38,918	$9.2M	Add +0.1%
PEP Pepsico Inc.	1.39%	68,627	$9.1M	Add +1.2%
IWM iShares Russell 2000 ETF	1.28%	38,755	$8.4M	Reduce -1.1%
XOM Exxon Mobil Corp.	1.21%	73,032	$7.9M	Add +0.7%
VGT Vanguard Info Tech ETF	1.21%	11,854	$7.9M	Reduce -1.4%
BSV Vanguard Short-Term Bond ETF	1.21%	99,731	$7.8M	Reduce -2.6%
ADP Automatic Data Processing	1.16%	24,503	$7.6M	Reduce -1.5%
V Visa Inc. Class A	1.15%	21,099	$7.5M	Reduce -1.4%
APD Air Products & Chemicals Inc.	1.12%	25,940	$7.3M	Reduce -1.6%
CSCO Cisco Systems Inc.	1.10%	103,621	$7.2M	Reduce -1.9%
FDX FedEx Corp.	1.08%	31,012	$7.0M	Reduce -2.6%
VO Vngrd Mrngstr MD-Cap ETF-Usd	1.01%	23,482	$6.6M	Reduce -0.2%
GOOGL Alphabet Inc. Class A	0.97%	35,810	$6.3M	Reduce -1.4%
AMZN Amazon.com Inc.	0.94%	27,957	$6.1M	Add +0.7%
WFC Wells Fargo & Co.	0.92%	75,096	$6.0M	Add +5.4%
BN Brookfield Corp.	0.91%	96,186	$5.9M	Add +5.7%
VUG Vanguard Mrngstar GR ETF-Sui	0.87%	12,914	$5.7M	Reduce -0.5%
OEF iShares S&P 100 ETF	0.85%	18,117	$5.5M	Reduce -1.2%
USB US Bancorp	0.84%	120,441	$5.4M	Add +11.7%
TRV The Travelers Cos Inc.	0.83%	20,193	$5.4M	Reduce -2.1%
TXN Texas Instruments Inc.	0.83%	25,924	$5.4M	Reduce -0.1%
MDLZ Mondelez International Inc. Class A	0.81%	77,809	$5.2M	Reduce -2.3%
MKL Markel Group Inc.	0.77%	2,519	$5.0M	Add +70.2%
VGSH Vanguard Short-Term Treasury	0.74%	82,071	$4.8M	Add +7.2%
GLW Corning Inc.	0.73%	90,141	$4.7M	Reduce -1.0%
VTV Vanguard Mrngstr Val ETF-Aui	0.65%	23,954	$4.2M	Add +1.3%
VBR Vngrd Mrngst SL-CP Val ETF-U	0.62%	20,869	$4.1M	Add +5.3%
EOG EOG Resources Inc.	0.60%	32,461	$3.9M	Reduce -0.2%
BAC Bank of America Corp. filed as BANK AMERICA CORP	0.58%	79,552	$3.8M	Reduce -3.9%
VYM Vanguard High DVD Yield ETF	0.57%	27,903	$3.7M	Reduce -0.5%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS	0.55%	12,105	$3.6M	No change
MS Morgan Stanley	0.54%	25,123	$3.5M	Reduce -2.6%
VCSH Vanguard S/T Corp. Bond ETF	0.54%	43,847	$3.5M	Add +5.4%
C Citigroup Inc.	0.53%	40,269	$3.4M	Add +2.0%
MTB M & T Bank Corp. filed as M & T BK CORP	0.51%	17,169	$3.3M	Add +12.0%
EES Wisdomtree US Smallcap Fund	0.49%	62,454	$3.2M	Reduce -1.4%
EZM Wisdomtree US Midcap Fund	0.44%	46,413	$2.9M	Add +0.1%
VOE Vngrd Mrngstr MD-Cap Val ETF	0.41%	16,208	$2.7M	Add +18.9%
HSY The Hershey Co.	0.39%	15,277	$2.5M	Reduce -7.8%
VZ Verizon Communications Inc.	0.39%	58,540	$2.5M	Add +4.2%
MMM 3M Co.	0.38%	16,232	$2.5M	Reduce -3.5%
IJR iShares Core S&P Small-Cap E	0.38%	22,435	$2.5M	Add +3.6%
COF Capital One Financial Corp.	0.37%	11,365	$2.4M	Add +0.4%
CVS CVS Health Corp.	0.37%	34,991	$2.4M	Reduce -1.8%
VOO Vanguard S&P 500 ETF	0.36%	4,164	$2.4M	Add +13.5%
VXUS Vanguard Total Intl Stock	0.34%	32,360	$2.2M	Reduce -0.6%
T AT&T Inc.	0.34%	76,648	$2.2M	Add +2.6%
UNH Unitedhealth Group Inc.	0.31%	6,498	$2.0M	Reduce -45.0%
DIS The Walt Disney Co. filed as DISNEY WALT CO	0.29%	15,219	$1.9M	Reduce -27.3%
SPY SS SPDR S&P 500 ETF Trust-US	0.28%	2,967	$1.8M	Reduce -1.0%
DLN Wisdomtree US Largecap Divid	0.28%	22,260	$1.8M	Reduce -2.6%
VTEB Vanguard Tax-Exempt Bond ETF	0.27%	36,500	$1.8M	Add +11.6%
BND Vanguard Total Bond Market	0.27%	24,299	$1.8M	Reduce -11.3%
CLX Clorox Company	0.27%	14,867	$1.8M	Add +4.7%
AGG iShares Core U.S. Aggregate	0.27%	17,870	$1.8M	Reduce -0.9%
SBUX Starbucks Corp.	0.27%	18,898	$1.7M	Reduce -3.0%
GIS General Mills Inc.	0.25%	31,742	$1.6M	Reduce -1.4%
HD Home Depot Inc.	0.24%	4,202	$1.5M	No change
MA Mastercard Inc. Class A	0.23%	2,715	$1.5M	Reduce -2.9%
UPS United Parcel Service Class B	0.23%	14,993	$1.5M	Reduce -49.8%
IJH iShares Core S&P Midcap ETF	0.22%	23,244	$1.4M	Add +6.3%
DON Wisdomtree US Midcap Dividen	0.22%	28,251	$1.4M	Reduce -8.4%
JCI Johnson Controls Internation	0.21%	13,113	$1.4M	Reduce -0.0%
ERIE Erie Indemnity Company Class A	0.20%	3,762	$1.3M	No change
UNP Union Pacific Corp.	0.20%	5,620	$1.3M	Add +42.6%
DVN Devon Energy Corp.	0.19%	39,456	$1.3M	Reduce -0.8%
AXP American Express Co.	0.19%	3,913	$1.2M	No change
KO The Coca-Cola Co.	0.19%	17,446	$1.2M	No change
PFF iShares Preferred & Income S	0.16%	33,730	$1.0M	Reduce -7.4%
RSP Invesco S&P 500 Equal Weight	0.15%	5,381	$978K	Add +5.2%
WMT Walmart Inc.	0.14%	9,039	$884K	Add +2.3%
IVV iShares Core S&P 500 ETF	0.14%	1,420	$882K	Add +1.1%
STT State Street Corp.	0.13%	8,122	$864K	Reduce -3.6%
D Dominion Energy Inc.	0.13%	15,167	$857K	Reduce -1.2%
LOW Lowe's Cos Inc.	0.13%	3,708	$823K	Reduce -10.6%
IWN iShares Russell 2000 Value E	0.13%	5,211	$822K	No change
BIL SS SPDR BB 1-3M T-Bill ETF	0.12%	8,865	$813K	Add +40.0%
IVW iShares S&P 500 Growth ETF	0.12%	7,372	$812K	No change
BAM Brookfield Asset Mgmt-A	0.12%	13,708	$758K	Reduce -2.8%
SJM The JM Smucker Co. filed as SMUCKER J M CO	0.11%	7,542	$741K	Reduce -19.6%
COST Costco Wholesale Corp.	0.10%	690	$683K	Reduce -2.8%
LLY Eli Lilly & Co.	0.10%	876	$683K	Add +16.3%
ADBE Adobe Inc.	0.10%	1,733	$670K	No change
EFA iShares MSCI Eafe ETF	0.09%	6,858	$613K	Reduce -4.2%
VIG Vanguard Dividend Apprec ETF	0.09%	2,767	$566K	Add +0.4%
ZBH Zimmer Biomet Holdings Inc.	0.08%	5,998	$547K	No change
QQQ Invesco QQQ Trust Series 1	0.08%	937	$517K	No change
TFC Truist Financial Corp.	0.08%	11,728	$504K	Reduce -76.0%
ITOT iShares Core S&P Total U.S.	0.08%	3,695	$499K	No change
AMGN Amgen Inc.	0.07%	1,732	$484K	Reduce -9.9%
K Kellanova	0.07%	5,907	$470K	Reduce -10.7%
VCIT Vanguard Int-Term Corporate	0.07%	5,230	$434K	Add +4.6%
SLB SLB Ltd. filed as SCHLUMBERGER LTD	0.06%	11,959	$404K	Reduce -2.5%
PFE Pfizer Inc.	0.06%	16,177	$392K	Reduce -23.1%
META Meta Platforms Inc. Class A	0.06%	516	$381K	New
VUSB Vanguard Ultra Short Bond Et	0.06%	7,195	$359K	Reduce -4.0%
SCHB Schwab US Broad Market ETF	0.05%	15,000	$357K	No change
VOT Vngrd Mrngstr MC GRW ETF-Usd	0.05%	1,190	$338K	No change
KVUE Kenvue Inc.	0.05%	14,400	$301K	Reduce -2.7%
BX Blackstone Inc.	0.04%	1,800	$269K	No change
MOAT Vaneck Morningstar Wide Moat	0.04%	2,701	$253K	No change
MKC.V McCormick & Co. Inc. VTG Com	0.04%	3,185	$241K	No change
LSTR Landstar System Inc.	0.04%	1,700	$236K	No change
DWM Wisdomtree International Equ	0.04%	3,695	$235K	No change
SPYM Ste STR SPDR PT S&P 500 ETF	0.03%	2,874	$209K	New
OBT Orange County Bancorp Inc.	0.03%	7,800	$202K	New
NKE Nike Inc. Class B	0.03%	2,829	$201K	New

Other holdings (1): bonds, preferreds, convertibles and warrants · $3K (not counted above)

Security	Class	Shares / Principal	Value	Change
LIBERTY INTERACTIVE LLC (LINTA 4 11/15/29)	DEB 4.000%11/1 · principal	40,000	$3K	No change

Total filed on the 13F, all lines: $651.3M.

Portfolio Sells Q1 2025 → Q2 2025


AAPL Apple Inc.	Reduce -2.5%	5.74%	−0.89
UNH Unitedhealth Group Inc.	Reduce -45.0%	0.31%	−0.68
ABBV Abbvie Inc.	Reduce -2.9%	1.95%	−0.41
UPS United Parcel Service Class B	Reduce -49.8%	0.23%	−0.29
TFC Truist Financial Corp.	Reduce -76.0%	0.08%	−0.24
JNJ Johnson & Johnson	Reduce -0.8%	1.76%	−0.24
MCD McDonald's Corp.	Reduce -1.4%	1.68%	−0.21
PG The Procter & Gamble Co.	Reduce -2.4%	1.49%	−0.21
FDX FedEx Corp.	Reduce -2.6%	1.08%	−0.16
APD Air Products & Chemicals Inc.	Reduce -1.6%	1.12%	−0.12
BSV Vanguard Short-Term Bond ETF	Reduce -2.6%	1.21%	−0.08
EOG EOG Resources Inc.	Reduce -0.2%	0.60%	−0.07
SJM The JM Smucker Co.	Reduce -19.6%	0.11%	−0.06
HSY The Hershey Co.	Reduce -7.8%	0.39%	−0.06
MDLZ Mondelez International Inc. Class A	Reduce -2.3%	0.81%	−0.06
GIS General Mills Inc.	Reduce -1.4%	0.25%	−0.05
ADP Automatic Data Processing	Reduce -1.5%	1.16%	−0.05
V Visa Inc. Class A	Reduce -1.4%	1.15%	−0.05
BND Vanguard Total Bond Market	Reduce -11.3%	0.27%	−0.05
KHC The Kraft Heinz Co.	Sold out	0.00%	−0.05
DVN Devon Energy Corp.	Reduce -0.8%	0.19%	−0.04
ABT Abbott Laboratories	Reduce -0.8%	1.92%	−0.04
TRV The Travelers Cos Inc.	Reduce -2.1%	0.83%	−0.04
DIS The Walt Disney Co.	Reduce -27.3%	0.29%	−0.04
SBUX Starbucks Corp.	Reduce -3.0%	0.27%	−0.04
LOW Lowe's Cos Inc.	Reduce -10.6%	0.13%	−0.03
DON Wisdomtree US Midcap Dividen	Reduce -8.4%	0.22%	−0.03
PFE Pfizer Inc.	Reduce -23.1%	0.06%	−0.03
AMGN Amgen Inc.	Reduce -9.9%	0.07%	−0.02
PFF iShares Preferred & Income S	Reduce -7.4%	0.16%	−0.02
SLB SLB Ltd.	Reduce -2.5%	0.06%	−0.02
CMI Cummins Inc.	Reduce -1.3%	1.77%	−0.02
K Kellanova	Reduce -10.7%	0.07%	−0.02
MMM 3M Co.	Reduce -3.5%	0.38%	−0.02
CVS CVS Health Corp.	Reduce -1.8%	0.37%	−0.01
AGG iShares Core U.S. Aggregate	Reduce -0.9%	0.27%	−0.01
MA Mastercard Inc. Class A	Reduce -2.9%	0.23%	−0.01
KVUE Kenvue Inc.	Reduce -2.7%	0.05%	−0.01
DLN Wisdomtree US Largecap Divid	Reduce -2.6%	0.28%	−0.01
VYM Vanguard High DVD Yield ETF	Reduce -0.5%	0.57%	−0.01
D Dominion Energy Inc.	Reduce -1.2%	0.13%	−0.01
EES Wisdomtree US Smallcap Fund	Reduce -1.4%	0.49%	−0.01
VUSB Vanguard Ultra Short Bond Et	Reduce -4.0%	0.06%	−0.00
COST Costco Wholesale Corp.	Reduce -2.8%	0.10%	−0.00
EFA iShares MSCI Eafe ETF	Reduce -4.2%	0.09%	+0.00
BAM Brookfield Asset Mgmt-A	Reduce -2.8%	0.12%	+0.01
STT State Street Corp.	Reduce -3.6%	0.13%	+0.01
SPY SS SPDR S&P 500 ETF Trust-US	Reduce -1.0%	0.28%	+0.01
VXUS Vanguard Total Intl Stock	Reduce -0.6%	0.34%	+0.02
BAC Bank of America Corp.	Reduce -3.9%	0.58%	+0.03

Portfolio Buys Q1 2025 → Q2 2025


MKL Markel Group Inc.	Add +70.2%	0.77%	+0.33
BN Brookfield Corp.	Add +5.7%	0.91%	+0.15
USB US Bancorp	Add +11.7%	0.84%	+0.11
WFC Wells Fargo & Co.	Add +5.4%	0.92%	+0.11
AMZN Amazon.com Inc.	Add +0.7%	0.94%	+0.10
C Citigroup Inc.	Add +2.0%	0.53%	+0.08
MTB M & T Bank Corp.	Add +12.0%	0.51%	+0.07
VOO Vanguard S&P 500 ETF	Add +13.5%	0.36%	+0.06
VOE Vngrd Mrngstr MD-Cap Val ETF	Add +18.9%	0.41%	+0.06
META Meta Platforms Inc. Class A	New	0.06%	+0.06
UNP Union Pacific Corp.	Add +42.6%	0.20%	+0.05
COF Capital One Financial Corp.	Add +0.4%	0.37%	+0.05
VB Vanguard Most SM-Cap ETF-Usd	Add +0.1%	1.42%	+0.04
VBR Vngrd Mrngst SL-CP Val ETF-U	Add +5.3%	0.62%	+0.03
SPYM Ste STR SPDR PT S&P 500 ETF	New	0.03%	+0.03
BIL SS SPDR BB 1-3M T-Bill ETF	Add +40.0%	0.12%	+0.03
NKE Nike Inc. Class B	New	0.03%	+0.03
OBT Orange County Bancorp Inc.	New	0.03%	+0.03
VGSH Vanguard Short-Term Treasury	Add +7.2%	0.74%	+0.02
IJH iShares Core S&P Midcap ETF	Add +6.3%	0.22%	+0.02
VTEB Vanguard Tax-Exempt Bond ETF	Add +11.6%	0.27%	+0.02
IJR iShares Core S&P Small-Cap E	Add +3.6%	0.38%	+0.01
WMT Walmart Inc.	Add +2.3%	0.14%	+0.01
VCSH Vanguard S/T Corp. Bond ETF	Add +5.4%	0.54%	+0.01
IVV iShares Core S&P 500 ETF	Add +1.1%	0.14%	+0.01
RSP Invesco S&P 500 Equal Weight	Add +5.2%	0.15%	+0.01
LLY Eli Lilly & Co.	Add +16.3%	0.10%	+0.01
T AT&T Inc.	Add +2.6%	0.34%	+0.00
VIG Vanguard Dividend Apprec ETF	Add +0.4%	0.09%	+0.00
VCIT Vanguard Int-Term Corporate	Add +4.6%	0.07%	+0.00
EZM Wisdomtree US Midcap Fund	Add +0.1%	0.44%	−0.00
VTV Vanguard Mrngstr Val ETF-Aui	Add +1.3%	0.65%	−0.00
VZ Verizon Communications Inc.	Add +4.2%	0.39%	−0.02
CLX Clorox Company	Add +4.7%	0.27%	−0.06
XOM Exxon Mobil Corp.	Add +0.7%	1.21%	−0.17
PEP Pepsico Inc.	Add +1.2%	1.39%	−0.23
CVX Chevron Corp.	Add +1.8%	1.42%	−0.28
BRK.B Berkshire Hathaway Inc. Class B	Add +0.3%	8.22%	−1.13

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026	139	$858.7M	BRK.B, AAPL, JNJ, CAT, JPM
Q1 2026	131	$770.9M	BRK.B, AAPL, JNJ, JPM, MSFT
Q4 2025	128	$728.9M	BRK.B, AAPL, MSFT, JPM, GS
Q3 2025	127	$706.6M	BRK.B, AAPL, MSFT, JPM, GS
Q2 2025	126	$651.3M	BRK.B, MSFT, AAPL, JPM, GS
Q1 2025	123	$626.0M	BRK.B, AAPL, MSFT, JPM, GS
Q4 2024	125	$628.7M	BRK.B, AAPL, MSFT, JPM, GS
Q3 2024	125	$621.1M	BRK.B, AAPL, MSFT, JPM, CAT
Q2 2024	120	$572.6M	BRK.B, AAPL, MSFT, JPM, IWR
Q1 2024	121	$579.3M	BRK.B, MSFT, AAPL, JPM, CAT