Hutchinson Capital Management

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

In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 12, 2024), Hutchinson Capital Management reported 89 stock positions worth $527.9 million. Its top holding was Berkshire Hathaway Class B (BRK.B) at 6.5% of the portfolio, followed by Microsoft (MSFT, 5.8%) and Apple (AAPL, 5.5%). Compared with Q2 2024, it opened 3 new positions, sold out of 2, added to 32 and reduced 37. The biggest buy was Amazon.com (AMZN, shares +1053%) and the biggest sale Novo-Nordisk A/S-Spons ADR (NVO, shares −1%).

Most Recent 13F: Q2 2026
Location: SAN RAFAEL, CA
CIK: 0001078246
Portfolio Value: $527.9M (Q3 2024)
SEC Filing: 0001078246-24-000004 ↗ filed Nov 12, 2024

Holdings Value

Holdings 89 stocks · $527.9M


BRK.B Berkshire Hathaway Inc. Class B	6.50%	74,531	$34.3M	Reduce -1.6%
MSFT Microsoft Corp.	5.82%	71,402	$30.7M	Reduce -0.7%
AAPL Apple Inc.	5.50%	124,561	$29.0M	Reduce -18.0%
PGR Progressive Corp.	4.91%	102,202	$25.9M	Reduce -1.2%
GOOGL Alphabet Inc. Class A	4.55%	144,910	$24.0M	Reduce -0.4%
BAC Bank of America Corp. filed as BANK AMERICA CORP	3.99%	530,911	$21.1M	Reduce -0.5%
NVO Novo-Nordisk A/S-Spons ADR	3.95%	175,088	$20.8M	Reduce -0.5%
UNH Unitedhealth Group Inc.	3.69%	33,330	$19.5M	Reduce -1.0%
J Jacobs Solutions Inc.	3.69%	148,697	$19.5M	Reduce -0.8%
WAT Waters Corp.	3.41%	49,969	$18.0M	Reduce -0.4%
XOM Exxon Mobil Corp.	3.07%	138,431	$16.2M	Add +0.0%
SBUX Starbucks Corp.	3.07%	166,104	$16.2M	Reduce -0.3%
BHRB Burke & Herbert Financial SE	2.99%	259,080	$15.8M	Add +1.6%
VRSN Verisign Inc.	2.84%	78,995	$15.0M	Reduce -1.6%
DUHP Dimensional US High Profi Et	2.71%	419,527	$14.3M	Add +1.8%
WRB WR Berkley Corp. filed as BERKLEY W R CORP	2.64%	245,278	$13.9M	Reduce -0.7%
MKL Markel Group Inc.	2.55%	8,589	$13.5M	Reduce -1.1%
ACN Accenture PLC Class A	2.43%	36,339	$12.8M	Reduce -0.3%
AMZN Amazon.com Inc.	2.35%	66,537	$12.4M	Add +1053.2%
DEO Diageo PLC-Sponsored ADR	2.33%	87,516	$12.3M	Add +48.4%
KMX Carmax Inc.	2.32%	158,162	$12.2M	Reduce -1.1%
RHI Robert Half Inc.	2.30%	180,305	$12.2M	Reduce -1.9%
COF Capital One Financial Corp.	2.13%	75,260	$11.3M	Reduce -0.7%
ARE Alexandria Real Estate Equit	1.96%	86,915	$10.3M	Reduce -0.6%
CMCSA Comcast Corp. Class A	1.64%	207,034	$8.6M	Reduce -0.3%
VLO Valero Energy Corp.	1.50%	58,638	$7.9M	Add +0.1%
DFAU Dimensional US Core Equity M	1.37%	182,170	$7.2M	Add +17.3%
WFC Wells Fargo & Co.	1.08%	100,485	$5.7M	Reduce -0.1%
DFAC Dimensional US Core Equity 2	0.98%	150,405	$5.2M	Reduce -6.1%
DFAI Dimensional International Co.	0.94%	155,581	$4.9M	Add +3.2%
AMTM Amentum Holdings Inc.	0.91%	148,572	$4.8M	Reduce -0.8%
SCHO Schwab Short-Term US Treas	0.77%	82,882	$4.1M	Add +6.0%
VTIP Vanguard Short-Term Tips	0.76%	81,599	$4.0M	Reduce -1.6%
CVX Chevron Corp.	0.59%	21,005	$3.1M	Add +8.9%
SPY SS SPDR S&P 500 ETF Trust-US	0.41%	3,737	$2.1M	Add +12.4%
DIHP Dimensional International Hi	0.39%	74,136	$2.1M	Add +2.1%
PG The Procter & Gamble Co.	0.34%	10,321	$1.8M	Reduce -0.3%
DFAE Dimensional Emerging Core Eq	0.33%	63,879	$1.8M	Add +0.2%
JNJ Johnson & Johnson	0.33%	10,590	$1.7M	Add +0.3%
DFSI Dimensional Int Sus COR1 ETF	0.31%	45,736	$1.6M	No change
DFAX Dimensional World Ex US Core	0.29%	57,178	$1.5M	Add +14.5%
COST Costco Wholesale Corp.	0.27%	1,604	$1.4M	Reduce -3.6%
BA The Boeing Co.	0.27%	9,279	$1.4M	No change
SCHP Schwab U.S. Tips ETF	0.25%	24,381	$1.3M	Reduce -1.9%
SCHR Schwab Intermediate-Term US	0.24%	24,763	$1.3M	Add +3.3%
UNP Union Pacific Corp.	0.23%	5,001	$1.2M	Add +1.2%
IAU iShares Gold Trust	0.22%	23,132	$1.1M	No change
JPM JPMorgan Chase & Co.	0.21%	5,291	$1.1M	Add +4.0%
DFAR Dimensional US Real Est ETF	0.21%	43,503	$1.1M	No change
IJT iShares S&P Small-Cap 600 GR	0.20%	7,465	$1.0M	No change
EWU iShares MSCI United Kingdom	0.19%	27,187	$1.0M	No change
V Visa Inc. Class A	0.18%	3,379	$929K	Add +6.3%
PFE Pfizer Inc.	0.18%	32,012	$926K	Reduce -6.1%
MRSH Marsh & McLennan Cos	0.16%	3,670	$819K	Reduce -0.3%
KO The Coca-Cola Co.	0.15%	10,927	$785K	Reduce -0.2%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS	0.14%	3,332	$737K	Reduce -0.1%
VEEV Veeva Systems Inc. Class A	0.12%	3,122	$655K	Add +0.0%
PEP Pepsico Inc.	0.12%	3,640	$619K	Reduce -1.8%
GOOG Alphabet Inc. Class C	0.11%	3,501	$585K	Add +0.3%
K Kellanova	0.10%	6,779	$547K	Add +0.1%
DFAT Dimensional US Target Value	0.10%	9,835	$547K	Add +12.3%
DFSU Dimensional US Sus CORE1 ETF	0.10%	14,177	$527K	Add +82.9%
DIS The Walt Disney Co. filed as DISNEY WALT CO	0.10%	5,450	$524K	Reduce -0.4%
FLOT iShares Floating Rate Bond E	0.09%	9,501	$485K	Add +4.3%
GLW Corning Inc.	0.09%	10,429	$471K	Add +0.1%
HD Home Depot Inc.	0.08%	1,105	$448K	Reduce -12.3%
AMGN Amgen Inc.	0.08%	1,362	$439K	Add +0.1%
LLY Eli Lilly & Co.	0.08%	477	$423K	Reduce -0.6%
CAT Caterpillar Inc.	0.08%	1,017	$398K	No change
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE	0.07%	892	$377K	No change
ROK Rockwell Automation Inc.	0.07%	1,359	$365K	Add +0.1%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP	0.07%	5,033	$362K	Reduce -6.1%
CWT California Water Service Grp	0.07%	6,612	$359K	Reduce -0.0%
MCD McDonald's Corp.	0.07%	1,174	$358K	No change
XLK SS Technology Select Sector	0.07%	1,552	$350K	No change
BX Blackstone Inc.	0.06%	2,108	$323K	Add +4.7%
PFGC Performance Food Group Co.	0.06%	3,974	$311K	No change
YUM Yum! Brands Inc.	0.05%	1,974	$276K	No change
ADBE Adobe Inc.	0.05%	519	$269K	Add +21.8%
SCHF Schwab Intl Equity ETF	0.05%	6,242	$257K	No change
NVDA Nvidia Corp.	0.05%	2,111	$256K	Add +13.3%
IWB iShares Russell 1000 ETF	0.05%	806	$253K	No change
MRK Merck & Co. Inc.	0.05%	2,111	$240K	Add +3.0%
JMST JPM Ultra-Short Muni Income filed as J P MORGAN EXCHANGE TRADED F	0.04%	4,441	$226K	No change
BMY Bristol-Myers Squibb Co.	0.04%	4,298	$222K	New
RSG Republic Services Inc.	0.04%	1,089	$219K	No change
RTX RTX Corp.	0.04%	1,760	$213K	New
META Meta Platforms Inc. Class A	0.04%	368	$211K	New
AMTX Aemetis Inc.	0.01%	23,200	$53K	No change

Portfolio Sells Q2 2024 → Q3 2024


NVO Novo-Nordisk A/S-Spons ADR	Reduce -0.5%	3.95%	−1.19
AAPL Apple Inc.	Reduce -18.0%	5.50%	−1.04
GOOGL Alphabet Inc. Class A	Reduce -0.4%	4.55%	−0.87
MSFT Microsoft Corp.	Reduce -0.7%	5.82%	−0.75
J Jacobs Solutions Inc.	Reduce -0.8%	3.69%	−0.59
BAC Bank of America Corp.	Reduce -0.5%	3.99%	−0.35
MKL Markel Group Inc.	Reduce -1.1%	2.55%	−0.25
WFC Wells Fargo & Co.	Reduce -0.1%	1.08%	−0.15
ARE Alexandria Real Estate Equit	Reduce -0.6%	1.96%	−0.14
RHI Robert Half Inc.	Reduce -1.9%	2.30%	−0.10
AMTM Amentum Holdings Inc.	Reduce -0.8%	0.91%	−0.08
DFAC Dimensional US Core Equity 2	Reduce -6.1%	0.98%	−0.08
KMX Carmax Inc.	Reduce -1.1%	2.32%	−0.08
VRSN Verisign Inc.	Reduce -1.6%	2.84%	−0.08
VTIP Vanguard Short-Term Tips	Reduce -1.6%	0.76%	−0.06
ABBV Abbvie Inc.	Sold out	0.00%	−0.05
ABT Abbott Laboratories	Sold out	0.00%	−0.04
CMCSA Comcast Corp. Class A	Reduce -0.3%	1.64%	−0.03
COST Costco Wholesale Corp.	Reduce -3.6%	0.27%	−0.02
PFE Pfizer Inc.	Reduce -6.1%	0.18%	−0.02
SCHP Schwab U.S. Tips ETF	Reduce -1.9%	0.25%	−0.02
DIS The Walt Disney Co.	Reduce -0.4%	0.10%	−0.01
COF Capital One Financial Corp.	Reduce -0.7%	2.13%	−0.01
PG The Procter & Gamble Co.	Reduce -0.3%	0.34%	−0.01
WRB WR Berkley Corp.	Reduce -0.7%	2.64%	−0.01
LLY Eli Lilly & Co.	Reduce -0.6%	0.08%	−0.01
PEP Pepsico Inc.	Reduce -1.8%	0.12%	−0.01
HD Home Depot Inc.	Reduce -12.3%	0.08%	−0.00
MRSH Marsh & McLennan Cos	Reduce -0.3%	0.16%	−0.00
CWT California Water Service Grp	Reduce -0.0%	0.07%	+0.00
BNY Bank of New York Mellon Corp.	Reduce -6.1%	0.07%	+0.00
KO The Coca-Cola Co.	Reduce -0.2%	0.15%	+0.01
IBM Intl Business Machines Corp.	Reduce -0.1%	0.14%	+0.02
ACN Accenture PLC Class A	Reduce -0.3%	2.43%	+0.17
UNH Unitedhealth Group Inc.	Reduce -1.0%	3.69%	+0.18
BRK.B Berkshire Hathaway Inc. Class B	Reduce -1.6%	6.50%	+0.20
SBUX Starbucks Corp.	Reduce -0.3%	3.07%	+0.42
WAT Waters Corp.	Reduce -0.4%	3.41%	+0.43
PGR Progressive Corp.	Reduce -1.2%	4.91%	+0.52

Portfolio Buys Q2 2024 → Q3 2024


AMZN Amazon.com Inc.	Add +1053.2%	2.35%	+2.12
DEO Diageo PLC-Sponsored ADR	Add +48.4%	2.33%	+0.81
BHRB Burke & Herbert Financial SE	Add +1.6%	2.99%	+0.33
DFAU Dimensional US Core Equity M	Add +17.3%	1.37%	+0.18
DFSU Dimensional US Sus CORE1 ETF	Add +82.9%	0.10%	+0.04
BMY Bristol-Myers Squibb Co.	New	0.04%	+0.04
RTX RTX Corp.	New	0.04%	+0.04
META Meta Platforms Inc. Class A	New	0.04%	+0.04
SPY SS SPDR S&P 500 ETF Trust-US	Add +12.4%	0.41%	+0.04
DFAX Dimensional World Ex US Core	Add +14.5%	0.29%	+0.03
K Kellanova	Add +0.1%	0.10%	+0.02
DFAI Dimensional International Co.	Add +3.2%	0.94%	+0.02
DUHP Dimensional US High Profi Et	Add +1.8%	2.71%	+0.01
DFAT Dimensional US Target Value	Add +12.3%	0.10%	+0.01
BX Blackstone Inc.	Add +4.7%	0.06%	+0.01
JNJ Johnson & Johnson	Add +0.3%	0.33%	+0.01
VEEV Veeva Systems Inc. Class A	Add +0.0%	0.12%	+0.01
GLW Corning Inc.	Add +0.1%	0.09%	+0.01
V Visa Inc. Class A	Add +6.3%	0.18%	+0.01
UNP Union Pacific Corp.	Add +1.2%	0.23%	+0.00
ADBE Adobe Inc.	Add +21.8%	0.05%	+0.00
NVDA Nvidia Corp.	Add +13.3%	0.05%	+0.00
JPM JPMorgan Chase & Co.	Add +4.0%	0.21%	+0.00
SCHO Schwab Short-Term US Treas	Add +6.0%	0.77%	−0.00
SCHR Schwab Intermediate-Term US	Add +3.3%	0.24%	−0.00
DIHP Dimensional International Hi	Add +2.1%	0.39%	−0.00
FLOT iShares Floating Rate Bond E	Add +4.3%	0.09%	−0.00
AMGN Amgen Inc.	Add +0.1%	0.08%	−0.00
DFAE Dimensional Emerging Core Eq	Add +0.2%	0.33%	−0.01
MRK Merck & Co. Inc.	Add +3.0%	0.05%	−0.01
ROK Rockwell Automation Inc.	Add +0.1%	0.07%	−0.01
GOOG Alphabet Inc. Class C	Add +0.3%	0.11%	−0.02
CVX Chevron Corp.	Add +8.9%	0.59%	−0.03
XOM Exxon Mobil Corp.	Add +0.0%	3.07%	−0.19
VLO Valero Energy Corp.	Add +0.1%	1.50%	−0.38

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026	108	$583.7M	BRK.B, AAPL, GOOGL, MSFT, PGR
Q1 2026	97	$544.1M	BRK.B, GOOGL, AAPL, MSFT, XOM
Q4 2025	98	$583.3M	GOOGL, BRK.B, MSFT, AAPL, BAC
Q3 2025	97	$577.9M	BRK.B, MSFT, GOOGL, AAPL, BAC
Q2 2025	92	$548.0M	BRK.B, MSFT, PGR, BAC, GOOGL
Q1 2025	92	$524.2M	BRK.B, PGR, AAPL, MSFT, GOOGL
Q4 2024	93	$530.0M	BRK.B, AAPL, MSFT, GOOGL, PGR
Q3 2024	89	$527.9M	BRK.B, MSFT, AAPL, PGR, GOOGL
Q2 2024	87	$488.9M	MSFT, AAPL, BRK.B, GOOGL, NVO
Q1 2024	82	$494.0M	BRK.B, MSFT, PGR, BAC, AAPL