Culbertson A N & Co. Inc.

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

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 21, 2026), Culbertson A N & Co. Inc. reported 128 stock positions worth $728.9 million. Its top holding was Berkshire Hathaway Class B (BRK.B) at 8.0% of the portfolio, followed by Apple (AAPL, 6.5%) and Microsoft (MSFT, 5.4%). Compared with Q3 2025, it opened 2 new positions, sold out of 1, added to 31 and reduced 75. The biggest buy was Caterpillar (CAT, shares +1%) and the biggest sale Oracle (ORCL, shares −5%).

Most Recent 13F: Q2 2026
Location: Charlottesville, VA
CIK: 0001224890
Portfolio Value: $728.9M (Q4 2025)
SEC Filing: 0001172661-26-000244 ↗ filed Jan 21, 2026

Holdings Value

Holdings 128 stocks · $728.9M


BRK.B Berkshire Hathaway Inc. Class B	8.03%	116,425	$58.5M	Add +5.4%
AAPL Apple Inc.	6.45%	173,040	$47.0M	Reduce -3.0%
MSFT Microsoft Corp.	5.44%	81,982	$39.6M	Reduce -0.2%
JPM JPMorgan Chase & Co.	5.02%	113,567	$36.6M	Add +0.7%
GS Goldman Sachs Group Inc.	3.28%	27,176	$23.9M	Reduce -0.3%
CAT Caterpillar Inc.	3.21%	40,895	$23.4M	Add +0.6%
GOOG Alphabet Inc. Class C	2.92%	67,749	$21.3M	Reduce -0.7%
CMI Cummins Inc.	2.43%	34,741	$17.7M	Reduce -0.4%
MCK McKesson Corp.	2.33%	20,684	$17.0M	Reduce -1.1%
IWR iShares Russell Mid-Cap ETF	2.22%	167,938	$16.2M	Reduce -1.1%
JNJ Johnson & Johnson	2.12%	74,751	$15.5M	Reduce -0.4%
ABBV Abbvie Inc.	2.10%	67,137	$15.3M	Reduce -1.0%
ORCL Oracle Corp.	1.93%	72,150	$14.1M	Reduce -4.8%
VTI VG Morningstar TS MKT ETF-US	1.78%	38,671	$13.0M	Reduce -1.8%
DE Deere & Co.	1.61%	25,232	$11.7M	Add +2.3%
GOOGL Alphabet Inc. Class A	1.57%	36,666	$11.5M	Add +2.0%
ABT Abbott Laboratories	1.56%	90,577	$11.3M	Reduce -0.9%
MCD McDonald's Corp.	1.55%	36,903	$11.3M	Reduce -0.8%
CVX Chevron Corp.	1.42%	68,053	$10.4M	Add +4.0%
VB Vanguard Most SM-Cap ETF-Usd	1.40%	39,626	$10.2M	Reduce -1.3%
PEP Pepsico Inc.	1.34%	68,310	$9.8M	Reduce -2.1%
IWM iShares Russell 2000 ETF	1.29%	38,186	$9.4M	Reduce -1.6%
XOM Exxon Mobil Corp.	1.21%	73,269	$8.8M	Reduce -0.6%
PG The Procter & Gamble Co.	1.17%	59,556	$8.5M	Reduce -1.5%
VGT Vanguard Info Tech ETF	1.16%	11,224	$8.5M	Reduce -5.2%
WFC Wells Fargo & Co.	1.09%	85,611	$8.0M	Add +14.4%
CSCO Cisco Systems Inc.	1.07%	101,592	$7.8M	Reduce -0.9%
GLW Corning Inc.	1.06%	88,265	$7.7M	Reduce -1.1%
FDX FedEx Corp.	1.05%	26,504	$7.7M	Reduce -3.9%
USB US Bancorp	1.05%	143,254	$7.6M	Add +11.4%
BSV Vanguard Short-Term Bond ETF	1.03%	95,558	$7.5M	Reduce -4.2%
BN Brookfield Corp.	1.02%	162,492	$7.5M	Add +10.1%
V Visa Inc. Class A	1.02%	21,199	$7.4M	Reduce -0.6%
AMZN Amazon.com Inc.	0.96%	30,444	$7.0M	Add +8.6%
VO Vngrd Mrngstr MD-Cap ETF-Usd	0.93%	23,400	$6.8M	Reduce -0.2%
MKL Markel Group Inc.	0.89%	3,012	$6.5M	Add +9.5%
VUG Vanguard Mrngstar GR ETF-Sui	0.87%	12,953	$6.3M	Add +0.3%
APD Air Products & Chemicals Inc.	0.86%	25,426	$6.3M	Reduce -1.2%
ADP Automatic Data Processing	0.85%	23,973	$6.2M	Reduce -1.6%
OEF iShares S&P 100 ETF	0.83%	17,712	$6.1M	Reduce -1.7%
TRV The Travelers Cos Inc.	0.80%	20,123	$5.8M	Reduce -0.3%
VGSH Vanguard Short-Term Treasury	0.66%	81,531	$4.8M	Reduce -0.8%
VBR Vngrd Mrngst SL-CP Val ETF-U	0.65%	22,229	$4.7M	Add +6.1%
C Citigroup Inc.	0.64%	40,004	$4.7M	Reduce -0.4%
VTV Vanguard Mrngstr Val ETF-Aui	0.63%	24,034	$4.6M	Reduce -0.2%
BAC Bank of America Corp. filed as BANK AMERICA CORP	0.63%	83,032	$4.6M	Add +5.3%
MS Morgan Stanley	0.62%	25,383	$4.5M	Add +0.6%
VYM Vanguard High DVD Yield ETF	0.54%	27,553	$4.0M	No change
MDLZ Mondelez International Inc. Class A	0.50%	67,594	$3.6M	Reduce -9.1%
VCSH Vanguard S/T Corp. Bond ETF	0.49%	45,158	$3.6M	Add +0.9%
EOG EOG Resources Inc.	0.49%	34,151	$3.6M	Add +0.9%
TXN Texas Instruments Inc.	0.49%	20,483	$3.6M	Reduce -3.7%
MTB M & T Bank Corp. filed as M & T BK CORP	0.48%	17,484	$3.5M	Add +1.4%
EES Wisdomtree US Smallcap Fund	0.48%	61,811	$3.5M	Reduce -1.0%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS	0.48%	11,843	$3.5M	Reduce -2.1%
BIL SS SPDR BB 1-3M T-Bill ETF	0.46%	37,057	$3.4M	Add +56.0%
VOE Vngrd Mrngstr MD-Cap Val ETF	0.45%	18,416	$3.3M	Add +10.9%
CVS CVS Health Corp.	0.42%	38,634	$3.1M	Reduce -3.9%
EZM Wisdomtree US Midcap Fund	0.42%	45,710	$3.1M	Reduce -1.4%
COF Capital One Financial Corp.	0.37%	11,190	$2.7M	Reduce -1.5%
IJR iShares Core S&P Small-Cap E	0.36%	21,821	$2.6M	Reduce -0.5%
CB Chubb Ltd.	0.36%	8,338	$2.6M	Add +16.0%
MMM 3M Co.	0.35%	15,994	$2.6M	Reduce -1.2%
VZ Verizon Communications Inc.	0.34%	61,022	$2.5M	Add +5.0%
VXUS Vanguard Total Intl Stock	0.34%	32,875	$2.5M	No change
VOO Vanguard S&P 500 ETF	0.33%	3,846	$2.4M	Reduce -5.0%
HSY The Hershey Co.	0.33%	13,159	$2.4M	Reduce -6.6%
BLK BlackRock Inc.	0.29%	1,993	$2.1M	Reduce -2.7%
T AT&T Inc.	0.27%	79,007	$2.0M	Add +0.5%
DLN Wisdomtree US Largecap Divid	0.27%	22,240	$2.0M	No change
SPY SS SPDR S&P 500 ETF Trust-US	0.27%	2,849	$1.9M	Reduce -0.7%
VTEB Vanguard Tax-Exempt Bond ETF	0.26%	38,200	$1.9M	Add +2.1%
D Dominion Energy Inc.	0.26%	32,005	$1.9M	Add +106.3%
BND Vanguard Total Bond Market	0.25%	24,189	$1.8M	Reduce -0.5%
DIS The Walt Disney Co. filed as DISNEY WALT CO	0.25%	15,711	$1.8M	Reduce -6.7%
AGG iShares Core U.S. Aggregate	0.22%	16,262	$1.6M	Reduce -5.5%
UPS United Parcel Service Class B	0.21%	15,772	$1.6M	Reduce -9.2%
MA Mastercard Inc. Class A	0.21%	2,675	$1.5M	Reduce -1.5%
IJH iShares Core S&P Midcap ETF	0.21%	23,119	$1.5M	Reduce -0.5%
JCI Johnson Controls Internation	0.21%	12,645	$1.5M	Reduce -2.1%
DON Wisdomtree US Midcap Dividen	0.20%	28,251	$1.5M	No change
AXP American Express Co.	0.20%	3,913	$1.4M	No change
HD Home Depot Inc.	0.20%	4,143	$1.4M	Reduce -1.4%
UNP Union Pacific Corp.	0.19%	5,960	$1.4M	Reduce -0.3%
DVN Devon Energy Corp.	0.18%	36,820	$1.3M	Reduce -11.2%
KO The Coca-Cola Co.	0.18%	19,202	$1.3M	Add +0.0%
SBUX Starbucks Corp.	0.15%	12,868	$1.1M	Reduce -0.4%
RSP Invesco S&P 500 Equal Weight	0.14%	5,371	$1.0M	No change
STT State Street Corp.	0.14%	7,972	$1.0M	Reduce -1.2%
PFF iShares Preferred & Income S	0.14%	32,292	$1000K	Reduce -0.9%
UNH Unitedhealth Group Inc.	0.13%	2,885	$952K	Reduce -9.1%
IVV iShares Core S&P 500 ETF	0.13%	1,390	$952K	Reduce -0.7%
WMT Walmart Inc.	0.13%	8,539	$951K	No change
LLY Eli Lilly & Co.	0.13%	880	$946K	No change
ERIE Erie Indemnity Company Class A	0.13%	3,269	$937K	Reduce -2.5%
IWN iShares Russell 2000 Value E	0.13%	5,151	$933K	Reduce -1.1%
GIS General Mills Inc.	0.12%	19,346	$900K	Reduce -32.0%
IVW iShares S&P 500 Growth ETF	0.12%	7,297	$899K	Reduce -1.0%
LOW Lowe's Cos Inc.	0.11%	3,318	$800K	Reduce -8.0%
BUD Anheuser-Busch Inbev-SPN ADR	0.10%	11,725	$751K	Add +14.1%

Show all 128 holdings

Portfolio Sells Q3 2025 → Q4 2025


ORCL Oracle Corp.	Reduce -4.8%	1.93%	−1.09
MSFT Microsoft Corp.	Reduce -0.2%	5.44%	−0.58
ABT Abbott Laboratories	Reduce -0.9%	1.56%	−0.18
ADP Automatic Data Processing	Reduce -1.6%	0.85%	−0.17
MDLZ Mondelez International Inc. Class A	Reduce -9.1%	0.50%	−0.16
PG The Procter & Gamble Co.	Reduce -1.5%	1.17%	−0.14
APD Air Products & Chemicals Inc.	Reduce -1.2%	0.86%	−0.13
ABBV Abbvie Inc.	Reduce -1.0%	2.10%	−0.12
IWR iShares Russell Mid-Cap ETF	Reduce -1.1%	2.22%	−0.10
VGT Vanguard Info Tech ETF	Reduce -5.2%	1.16%	−0.09
BSV Vanguard Short-Term Bond ETF	Reduce -4.2%	1.03%	−0.08
GIS General Mills Inc.	Reduce -32.0%	0.12%	−0.08
TXN Texas Instruments Inc.	Reduce -3.7%	0.49%	−0.07
K Kellanova	Sold out	0.00%	−0.07
MCD McDonald's Corp.	Reduce -0.8%	1.55%	−0.05
VTI VG Morningstar TS MKT ETF-US	Reduce -1.8%	1.78%	−0.05
HD Home Depot Inc.	Reduce -1.4%	0.20%	−0.05
BLK BlackRock Inc.	Reduce -2.7%	0.29%	−0.05
HSY The Hershey Co.	Reduce -6.6%	0.33%	−0.04
VO Vngrd Mrngstr MD-Cap ETF-Usd	Reduce -0.2%	0.93%	−0.04
SJM The JM Smucker Co.	Reduce -34.9%	0.06%	−0.04
VB Vanguard Most SM-Cap ETF-Usd	Reduce -1.3%	1.40%	−0.04
PEP Pepsico Inc.	Reduce -2.1%	1.34%	−0.04
IWM iShares Russell 2000 ETF	Reduce -1.6%	1.29%	−0.04
DIS The Walt Disney Co.	Reduce -6.7%	0.25%	−0.03
VGSH Vanguard Short-Term Treasury	Reduce -0.8%	0.66%	−0.03
UNH Unitedhealth Group Inc.	Reduce -9.1%	0.13%	−0.02
ADBE Adobe Inc.	Reduce -24.2%	0.06%	−0.02
ERIE Erie Indemnity Company Class A	Reduce -2.5%	0.13%	−0.02
AGG iShares Core U.S. Aggregate	Reduce -5.5%	0.22%	−0.02
DVN Devon Energy Corp.	Reduce -11.2%	0.18%	−0.02
VOO Vanguard S&P 500 ETF	Reduce -5.0%	0.33%	−0.02
LOW Lowe's Cos Inc.	Reduce -8.0%	0.11%	−0.02
ZBH Zimmer Biomet Holdings Inc.	Reduce -12.0%	0.06%	−0.02
CLX Clorox Company	Reduce -3.9%	0.05%	−0.02
OEF iShares S&P 100 ETF	Reduce -1.7%	0.83%	−0.02
EZM Wisdomtree US Midcap Fund	Reduce -1.4%	0.42%	−0.01
BAM Brookfield Asset Mgmt-A	Reduce -1.3%	0.10%	−0.01
PFE Pfizer Inc.	Reduce -19.6%	0.04%	−0.01
EES Wisdomtree US Smallcap Fund	Reduce -1.0%	0.48%	−0.01
UNP Union Pacific Corp.	Reduce -0.3%	0.19%	−0.01
V Visa Inc. Class A	Reduce -0.6%	1.02%	−0.01
BND Vanguard Total Bond Market	Reduce -0.5%	0.25%	−0.01
IJR iShares Core S&P Small-Cap E	Reduce -0.5%	0.36%	−0.01
MA Mastercard Inc. Class A	Reduce -1.5%	0.21%	−0.01
PFF iShares Preferred & Income S	Reduce -0.9%	0.14%	−0.01
CVS CVS Health Corp.	Reduce -3.9%	0.42%	−0.01
SBUX Starbucks Corp.	Reduce -0.4%	0.15%	−0.01
VTV Vanguard Mrngstr Val ETF-Aui	Reduce -0.2%	0.63%	−0.01
IJH iShares Core S&P Midcap ETF	Reduce -0.5%	0.21%	−0.01

Portfolio Buys Q3 2025 → Q4 2025


CAT Caterpillar Inc.	Add +0.6%	3.21%	+0.47
GOOGL Alphabet Inc. Class A	Add +2.0%	1.57%	+0.34
WFC Wells Fargo & Co.	Add +14.4%	1.09%	+0.21
BRK.B Berkshire Hathaway Inc. Class B	Add +5.4%	8.03%	+0.17
USB US Bancorp	Add +11.4%	1.05%	+0.17
BIL SS SPDR BB 1-3M T-Bill ETF	Add +56.0%	0.46%	+0.16
MKL Markel Group Inc.	Add +9.5%	0.89%	+0.14
D Dominion Energy Inc.	Add +106.3%	0.26%	+0.12
AMZN Amazon.com Inc.	Add +8.6%	0.96%	+0.09
CB Chubb Ltd.	Add +16.0%	0.36%	+0.07
BN Brookfield Corp.	Add +10.1%	1.02%	+0.07
BAC Bank of America Corp.	Add +5.3%	0.63%	+0.05
MS Morgan Stanley	Add +0.6%	0.62%	+0.05
STZ Constellation Brands Inc. Class A	New	0.04%	+0.04
VOE Vngrd Mrngstr MD-Cap Val ETF	Add +10.9%	0.45%	+0.04
OBT Orange County Bancorp Inc.	New	0.03%	+0.03
VBR Vngrd Mrngst SL-CP Val ETF-U	Add +6.1%	0.65%	+0.03
BUD Anheuser-Busch Inbev-SPN ADR	Add +14.1%	0.10%	+0.02
DE Deere & Co.	Add +2.3%	1.61%	+0.02
BX Blackstone Inc.	Add +47.5%	0.06%	+0.01
META Meta Platforms Inc. Class A	Add +38.8%	0.06%	+0.01
SLB SLB Ltd.	Add +1.4%	0.06%	+0.01
KO The Coca-Cola Co.	Add +0.0%	0.18%	+0.00
KVUE Kenvue Inc.	Add +3.2%	0.04%	+0.00
MTB M & T Bank Corp.	Add +1.4%	0.48%	+0.00
VTEB Vanguard Tax-Exempt Bond ETF	Add +2.1%	0.26%	−0.00
VUG Vanguard Mrngstar GR ETF-Sui	Add +0.3%	0.87%	−0.01
VCSH Vanguard S/T Corp. Bond ETF	Add +0.9%	0.49%	−0.01
JPM JPMorgan Chase & Co.	Add +0.7%	5.02%	−0.01
CVX Chevron Corp.	Add +4.0%	1.42%	−0.02
VZ Verizon Communications Inc.	Add +5.0%	0.34%	−0.02
EOG EOG Resources Inc.	Add +0.9%	0.49%	−0.04
T AT&T Inc.	Add +0.5%	0.27%	−0.04

Notes & Other Activity Q3 2025 → Q4 2025


LIBERTY INTERACTIVE LLC (LINTA 4 11/15/29)	DEB 4.000%11/1 · principal	Sold out	40,000	$3Kbefore exit

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	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