Hutchinson Capital Management

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 10, 2025), Hutchinson Capital Management reported 93 stock positions worth $530.0 million. Its top holding was Berkshire Hathaway Class B (BRK.B) at 6.4% of the portfolio, followed by Apple (AAPL, 5.8%) and Microsoft (MSFT, 5.6%). Compared with Q3 2024, it opened 5 new positions, sold out of 1, added to 29 and reduced 41. The biggest buy was a new position in Simplify MBS ETF (MTBA) and the biggest sale Comcast Class A (CMCSA, shares −55%).

Most Recent 13F
Q2 2026
Location
SAN RAFAEL, CA
CIK
0001078246
Portfolio Value
$530.0M (Q4 2024)
SEC Filing
0001078246-25-000001 ↗ filed Feb 10, 2025

Holdings Value

0$200.0M$400.0M$600.0M Q1 2024: $494.0M Q1 2024 Q2 2024: $488.9M Q2 2024 Q3 2024: $527.9M Q3 2024 Q4 2024: $530.0M $530.0M Q4 2024 Q1 2025: $524.2M Q1 2025 Q2 2025: $548.0M Q2 2025 Q3 2025: $577.9M Q3 2025 Q4 2025: $583.3M Q4 2025 Q1 2026: $544.1M Q1 2026 Q2 2026: $583.7M Q2 2026

Holdings 93 stocks · $530.0M
BRK.B Berkshire Hathaway Inc. Class B 6.36% 74,362 $33.7M Reduce -0.2%
AAPL Apple Inc. 5.78% 122,315 $30.6M Reduce -1.8%
MSFT Microsoft Corp. 5.59% 70,329 $29.6M Reduce -1.5%
GOOGL Alphabet Inc. Class A 5.24% 146,795 $27.8M Add +1.3%
PGR Progressive Corp. 4.63% 102,460 $24.6M Add +0.3%
BAC Bank of America Corp. filed as BANK AMERICA CORP 4.39% 528,882 $23.2M Reduce -0.4%
J Jacobs Solutions Inc. 3.72% 147,637 $19.7M Reduce -0.7%
WAT Waters Corp. 3.49% 49,826 $18.5M Reduce -0.3%
UNH Unitedhealth Group Inc. 3.20% 33,503 $16.9M Add +0.5%
BHRB Burke & Herbert Financial SE 3.02% 257,080 $16.0M Reduce -0.8%
VRSN Verisign Inc. 3.01% 77,106 $16.0M Reduce -2.4%
SBUX Starbucks Corp. 2.85% 165,712 $15.1M Reduce -0.2%
NVO Novo-Nordisk A/S-Spons ADR 2.85% 175,651 $15.1M Add +0.3%
XOM Exxon Mobil Corp. 2.81% 138,328 $14.9M Reduce -0.1%
MKL Markel Group Inc. 2.78% 8,535 $14.7M Reduce -0.6%
AMZN Amazon.com Inc. 2.75% 66,356 $14.6M Reduce -0.3%
WRB WR Berkley Corp. filed as BERKLEY W R CORP 2.70% 244,459 $14.3M Reduce -0.3%
DUHP Dimensional US High Profi Et 2.70% 423,274 $14.3M Add +0.9%
COF Capital One Financial Corp. 2.51% 74,697 $13.3M Reduce -0.8%
ACN Accenture PLC Class A 2.41% 36,344 $12.8M Add +0.0%
KMX Carmax Inc. 2.41% 156,259 $12.8M Reduce -1.2%
DEO Diageo PLC-Sponsored ADR 2.40% 99,991 $12.7M Add +14.3%
ARE Alexandria Real Estate Equit 2.00% 108,618 $10.6M Add +25.0%
RHI Robert Half Inc. 1.97% 148,168 $10.4M Reduce -17.8%
DFAU Dimensional US Core Equity M 1.53% 199,701 $8.1M Add +9.6%
VLO Valero Energy Corp. 1.35% 58,274 $7.1M Reduce -0.6%
WFC Wells Fargo & Co. 1.31% 98,511 $6.9M Reduce -2.0%
MTBA Simplify MBS ETF 1.25% 133,457 $6.6M New
DFAI Dimensional International Co. 1.00% 182,149 $5.3M Add +17.1%
DFAC Dimensional US Core Equity 2 0.94% 144,562 $5.0M Reduce -3.9%
VTIP Vanguard Short-Term Tips 0.75% 81,607 $4.0M Add +0.0%
SCHO Schwab Short-Term US Treas 0.75% 164,205 $4.0M Reduce -0.9%
CMCSA Comcast Corp. Class A 0.66% 93,781 $3.5M Reduce -54.7%
AMTM Amentum Holdings Inc. 0.58% 145,490 $3.1M Reduce -2.1%
CVX Chevron Corp. 0.56% 20,511 $3.0M Reduce -2.4%
SPY SS SPDR S&P 500 ETF Trust-US 0.42% 3,778 $2.2M Add +1.1%
DIHP Dimensional International Hi 0.38% 80,457 $2.0M Add +8.5%
PG The Procter & Gamble Co. 0.33% 10,403 $1.7M Add +0.8%
DFAE Dimensional Emerging Core Eq 0.32% 66,201 $1.7M Add +3.6%
BA The Boeing Co. 0.31% 9,204 $1.6M Reduce -0.8%
DFAT Dimensional US Target Value 0.29% 27,213 $1.5M Add +176.7%
JNJ Johnson & Johnson 0.29% 10,448 $1.5M Reduce -1.3%
DFSI Dimensional Int Sus COR1 ETF 0.28% 45,736 $1.5M No change
DFAX Dimensional World Ex US Core 0.27% 56,487 $1.4M Reduce -1.2%
COST Costco Wholesale Corp. 0.26% 1,492 $1.4M Reduce -7.0%
JPM JPMorgan Chase & Co. 0.24% 5,291 $1.3M No change
SCHP Schwab U.S. Tips ETF 0.23% 47,892 $1.2M Reduce -1.8%
SCHR Schwab Intermediate-Term US 0.22% 48,891 $1.2M Reduce -1.3%
IAU iShares Gold Trust 0.22% 23,132 $1.1M No change
UNP Union Pacific Corp. 0.22% 4,999 $1.1M Reduce -0.0%
V Visa Inc. Class A 0.21% 3,446 $1.1M Add +2.0%
IJT iShares S&P Small-Cap 600 GR 0.19% 7,465 $1.0M No change
EWU iShares MSCI United Kingdom 0.17% 27,187 $922K No change
MRSH Marsh & McLennan Cos 0.15% 3,670 $780K No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.14% 3,332 $732K No change
PFE Pfizer Inc. 0.14% 27,246 $723K Reduce -14.9%
GOOG Alphabet Inc. Class C 0.13% 3,555 $677K Add +1.5%
VEEV Veeva Systems Inc. Class A 0.12% 3,124 $657K Add +0.1%
KO The Coca-Cola Co. 0.12% 10,477 $652K Reduce -4.1%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.11% 5,299 $590K Reduce -2.8%
K Kellanova 0.10% 6,779 $549K No change
DFSU Dimensional US Sus CORE1 ETF 0.10% 14,177 $537K No change
GLW Corning Inc. 0.09% 10,432 $496K Add +0.0%
FLOT iShares Floating Rate Bond E 0.09% 9,501 $483K No change
PEP Pepsico Inc. 0.09% 2,977 $453K Reduce -18.2%
HD Home Depot Inc. 0.08% 1,106 $430K Add +0.1%
ROK Rockwell Automation Inc. 0.07% 1,360 $389K Add +0.1%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.07% 5,033 $387K No change
DFGR Dim Global Real Estate ETF 0.07% 15,026 $384K New
MCD McDonald's Corp. 0.07% 1,283 $372K Add +9.3%
CAT Caterpillar Inc. 0.07% 1,017 $369K No change
BX Blackstone Inc. 0.07% 2,109 $364K Add +0.1%
LLY Eli Lilly & Co. 0.07% 468 $361K Reduce -1.9%
XLK SS Technology Select Sector 0.07% 1,552 $361K No change
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE 0.07% 833 $354K Reduce -6.6%
AMGN Amgen Inc. 0.07% 1,359 $354K Reduce -0.2%
PFGC Performance Food Group Co. 0.06% 3,849 $325K Reduce -3.1%
NVDA Nvidia Corp. 0.06% 2,255 $303K Add +6.8%
CWT California Water Service Grp 0.06% 6,611 $300K Reduce -0.0%
YUM Yum! Brands Inc. 0.05% 1,973 $265K Reduce -0.1%
IWB iShares Russell 1000 ETF 0.05% 806 $260K No change
META Meta Platforms Inc. Class A 0.05% 425 $249K Add +15.5%
BMY Bristol-Myers Squibb Co. 0.05% 4,319 $244K Add +0.5%
ORLY O'reilly Automotive Inc. 0.04% 198 $235K New
DFAR Dimensional US Real Est ETF 0.04% 9,968 $232K Reduce -77.1%
SCHF Schwab Intl Equity ETF 0.04% 12,484 $231K No change
ADBE Adobe Inc. 0.04% 519 $231K No change
JMST JPM Ultra-Short Muni Income filed as J P MORGAN EXCHANGE TRADED F 0.04% 4,441 $225K No change
RSG Republic Services Inc. 0.04% 1,090 $219K Add +0.1%
MRK Merck & Co. Inc. 0.04% 2,164 $215K Add +2.5%
OKE Oneok Inc. 0.04% 2,068 $208K New
MA Mastercard Inc. Class A 0.04% 393 $207K New
AMTX Aemetis Inc. 0.01% 23,200 $62K No change

Portfolio Sells Q3 2024 → Q4 2024
CMCSA Comcast Corp. Class A Reduce -54.7% 0.66% −0.97
RHI Robert Half Inc. Reduce -17.8% 1.97% −0.33
AMTM Amentum Holdings Inc. Reduce -2.1% 0.58% −0.33
XOM Exxon Mobil Corp. Reduce -0.1% 2.81% −0.27
MSFT Microsoft Corp. Reduce -1.5% 5.59% −0.23
SBUX Starbucks Corp. Reduce -0.2% 2.85% −0.21
DFAR Dimensional US Real Est ETF Reduce -77.1% 0.04% −0.17
VLO Valero Energy Corp. Reduce -0.6% 1.35% −0.15
BRK.B Berkshire Hathaway Inc. Class B Reduce -0.2% 6.36% −0.14
RTX RTX Corp. Sold out 0.00% −0.04
JNJ Johnson & Johnson Reduce -1.3% 0.29% −0.04
PFE Pfizer Inc. Reduce -14.9% 0.14% −0.04
DFAC Dimensional US Core Equity 2 Reduce -3.9% 0.94% −0.03
PEP Pepsico Inc. Reduce -18.2% 0.09% −0.03
DFAX Dimensional World Ex US Core Reduce -1.2% 0.27% −0.03
KO The Coca-Cola Co. Reduce -4.1% 0.12% −0.03
CVX Chevron Corp. Reduce -2.4% 0.56% −0.03
SCHO Schwab Short-Term US Treas Reduce -0.9% 0.75% −0.02
UNP Union Pacific Corp. Reduce -0.0% 0.22% −0.02
AMGN Amgen Inc. Reduce -0.2% 0.07% −0.02
SCHP Schwab U.S. Tips ETF Reduce -1.8% 0.23% −0.01
SCHR Schwab Intermediate-Term US Reduce -1.3% 0.22% −0.01
LLY Eli Lilly & Co. Reduce -1.9% 0.07% −0.01
CWT California Water Service Grp Reduce -0.0% 0.06% −0.01
COST Costco Wholesale Corp. Reduce -7.0% 0.26% −0.01
DIA SS SPDR Dow Jones Indus Avg Reduce -6.6% 0.07% −0.00
YUM Yum! Brands Inc. Reduce -0.1% 0.05% −0.00
PFGC Performance Food Group Co. Reduce -3.1% 0.06% +0.00
DIS The Walt Disney Co. Reduce -2.8% 0.11% +0.01
BHRB Burke & Herbert Financial SE Reduce -0.8% 3.02% +0.03
J Jacobs Solutions Inc. Reduce -0.7% 3.72% +0.04
BA The Boeing Co. Reduce -0.8% 0.31% +0.04
WRB WR Berkley Corp. Reduce -0.3% 2.70% +0.06
WAT Waters Corp. Reduce -0.3% 3.49% +0.08
KMX Carmax Inc. Reduce -1.2% 2.41% +0.09
VRSN Verisign Inc. Reduce -2.4% 3.01% +0.17
MKL Markel Group Inc. Reduce -0.6% 2.78% +0.23
WFC Wells Fargo & Co. Reduce -2.0% 1.31% +0.23
AAPL Apple Inc. Reduce -1.8% 5.78% +0.28
COF Capital One Financial Corp. Reduce -0.8% 2.51% +0.38
BAC Bank of America Corp. Reduce -0.4% 4.39% +0.40
AMZN Amazon.com Inc. Reduce -0.3% 2.75% +0.40

Portfolio Buys Q3 2024 → Q4 2024
MTBA Simplify MBS ETF New 1.25% +1.25
GOOGL Alphabet Inc. Class A Add +1.3% 5.24% +0.69
DFAT Dimensional US Target Value Add +176.7% 0.29% +0.18
DFAU Dimensional US Core Equity M Add +9.6% 1.53% +0.16
DFGR Dim Global Real Estate ETF New 0.07% +0.07
DEO Diageo PLC-Sponsored ADR Add +14.3% 2.40% +0.07
DFAI Dimensional International Co. Add +17.1% 1.00% +0.07
ORLY O'reilly Automotive Inc. New 0.04% +0.04
ARE Alexandria Real Estate Equit Add +25.0% 2.00% +0.04
OKE Oneok Inc. New 0.04% +0.04
MA Mastercard Inc. Class A New 0.04% +0.04
V Visa Inc. Class A Add +2.0% 0.21% +0.03
GOOG Alphabet Inc. Class C Add +1.5% 0.13% +0.02
SPY SS SPDR S&P 500 ETF Trust-US Add +1.1% 0.42% +0.01
NVDA Nvidia Corp. Add +6.8% 0.06% +0.01
BX Blackstone Inc. Add +0.1% 0.07% +0.01
META Meta Platforms Inc. Class A Add +15.5% 0.05% +0.01
GLW Corning Inc. Add +0.0% 0.09% +0.00
ROK Rockwell Automation Inc. Add +0.1% 0.07% +0.00
BMY Bristol-Myers Squibb Co. Add +0.5% 0.05% +0.00
MCD McDonald's Corp. Add +9.3% 0.07% +0.00
RSG Republic Services Inc. Add +0.1% 0.04% −0.00
VEEV Veeva Systems Inc. Class A Add +0.1% 0.12% −0.00
HD Home Depot Inc. Add +0.1% 0.08% −0.00
MRK Merck & Co. Inc. Add +2.5% 0.04% −0.00
DIHP Dimensional International Hi Add +8.5% 0.38% −0.01
DUHP Dimensional US High Profi Et Add +0.9% 2.70% −0.01
PG The Procter & Gamble Co. Add +0.8% 0.33% −0.01
DFAE Dimensional Emerging Core Eq Add +3.6% 0.32% −0.01
VTIP Vanguard Short-Term Tips Add +0.0% 0.75% −0.02
ACN Accenture PLC Class A Add +0.0% 2.41% −0.02
PGR Progressive Corp. Add +0.3% 4.63% −0.28
UNH Unitedhealth Group Inc. Add +0.5% 3.20% −0.49
NVO Novo-Nordisk A/S-Spons ADR Add +0.3% 2.85% −1.10

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 108$583.7MBRK.B, AAPL, GOOGL, MSFT, PGR
Q1 2026 97$544.1MBRK.B, GOOGL, AAPL, MSFT, XOM
Q4 2025 98$583.3MGOOGL, BRK.B, MSFT, AAPL, BAC
Q3 2025 97$577.9MBRK.B, MSFT, GOOGL, AAPL, BAC
Q2 2025 92$548.0MBRK.B, MSFT, PGR, BAC, GOOGL
Q1 2025 92$524.2MBRK.B, PGR, AAPL, MSFT, GOOGL
Q4 2024 93$530.0MBRK.B, AAPL, MSFT, GOOGL, PGR
Q3 2024 89$527.9MBRK.B, MSFT, AAPL, PGR, GOOGL
Q2 2024 87$488.9MMSFT, AAPL, BRK.B, GOOGL, NVO
Q1 2024 82$494.0MBRK.B, MSFT, PGR, BAC, AAPL