Hutchinson Capital Management

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

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 4, 2025), Hutchinson Capital Management reported 92 stock positions worth $548.0 million. Its top holding was Berkshire Hathaway Class B (BRK.B) at 6.4% of the portfolio, followed by Microsoft (MSFT, 6.1%) and Progressive (PGR, 4.9%). Compared with Q1 2025, it opened 5 new positions, sold out of 5, added to 22 and reduced 46. The biggest buy was a new position in Hubbell (HUBB) and the biggest sale an exit from Robert Half (RHI).

Most Recent 13F: Q2 2026
Location: SAN RAFAEL, CA
CIK: 0001078246
Portfolio Value: $548.0M (Q2 2025)
SEC Filing: 0001078246-25-000004 ↗ filed Aug 4, 2025

Holdings Value

Holdings 92 stocks · $548.0M


BRK.B Berkshire Hathaway Inc. Class B	6.40%	72,240	$35.1M	Reduce -1.5%
MSFT Microsoft Corp.	6.15%	67,708	$33.7M	Reduce -1.5%
PGR Progressive Corp.	4.88%	100,187	$26.7M	Reduce -1.2%
BAC Bank of America Corp. filed as BANK AMERICA CORP	4.81%	557,341	$26.4M	Add +6.4%
GOOGL Alphabet Inc. Class A	4.58%	142,465	$25.1M	Reduce -1.7%
AAPL Apple Inc.	4.49%	119,924	$24.6M	Reduce -0.9%
J Jacobs Solutions Inc.	3.43%	143,078	$18.8M	Reduce -1.6%
WRB WR Berkley Corp. filed as BERKLEY W R CORP	3.17%	236,256	$17.4M	Reduce -2.1%
ADBE Adobe Inc.	3.11%	44,011	$17.0M	Reduce -1.6%
WAT Waters Corp.	3.09%	48,496	$16.9M	Reduce -1.4%
MKL Markel Group Inc.	3.03%	8,309	$16.6M	Reduce -1.7%
VRSN Verisign Inc.	3.02%	57,256	$16.5M	Reduce -21.5%
COF Capital One Financial Corp.	2.82%	72,685	$15.5M	Reduce -1.5%
BHRB Burke & Herbert Financial SE	2.80%	257,080	$15.4M	No change
DUHP Dimensional US High Profi Et	2.77%	426,889	$15.2M	Add +2.0%
SBUX Starbucks Corp.	2.71%	161,787	$14.8M	Reduce -1.4%
AMZN Amazon.com Inc.	2.59%	64,809	$14.2M	Reduce -1.2%
XOM Exxon Mobil Corp.	2.57%	130,811	$14.1M	Reduce -4.7%
NVO Novo-Nordisk A/S-Spons ADR	2.53%	200,817	$13.9M	Add +7.5%
MTBA Simplify MBS ETF	2.33%	255,224	$12.8M	Add +30.2%
HUBB Hubbell Inc.	2.32%	31,133	$12.7M	New
ACN Accenture PLC Class A	1.96%	35,853	$10.7M	Reduce -0.6%
DFAU Dimensional US Core Equity M	1.89%	244,363	$10.4M	Add +21.8%
KMX Carmax Inc.	1.82%	148,230	$10.0M	Reduce -2.6%
DEO Diageo PLC-Sponsored ADR	1.81%	98,339	$9.9M	Reduce -1.6%
CMCSA Comcast Corp. Class A	1.80%	276,800	$9.9M	Add +21.8%
WFC Wells Fargo & Co.	1.44%	98,511	$7.9M	No change
VLO Valero Energy Corp.	1.39%	56,512	$7.6M	Reduce -1.8%
ARE Alexandria Real Estate Equit	1.38%	104,174	$7.6M	Reduce -3.6%
DFAI Dimensional International Co.	1.29%	205,029	$7.1M	Add +12.0%
DFAC Dimensional US Core Equity 2	0.92%	140,144	$5.0M	Reduce -4.0%
VTIP Vanguard Short-Term Tips	0.80%	87,714	$4.4M	Add +2.4%
SCHO Schwab Short-Term US Treas	0.76%	171,722	$4.2M	Reduce -1.0%
DCRE DBL Comm Real Est Debt	0.55%	57,862	$3.0M	Add +1363.4%
DIHP Dimensional International Hi	0.47%	86,952	$2.6M	Add +7.8%
CVX Chevron Corp.	0.45%	17,350	$2.5M	Reduce -9.4%
DFAE Dimensional Emerging Core Eq	0.39%	74,564	$2.2M	Add +10.1%
DFSI Dimensional Int Sus COR1 ETF	0.33%	45,736	$1.8M	No change
SPY SS SPDR S&P 500 ETF Trust-US	0.33%	2,901	$1.8M	Reduce -11.9%
DFAX Dimensional World Ex US Core	0.31%	57,734	$1.7M	Add +1.8%
SCHR Schwab Intermediate-Term US	0.31%	67,675	$1.7M	Add +38.4%
GLDM SPDR Gold Minishares Trust	0.30%	25,437	$1.7M	New
DFAT Dimensional US Target Value	0.30%	30,439	$1.6M	Add +10.6%
PG The Procter & Gamble Co.	0.30%	10,268	$1.6M	Reduce -1.1%
BA The Boeing Co.	0.29%	7,706	$1.6M	Reduce -14.9%
SCHP Schwab U.S. Tips ETF	0.29%	59,140	$1.6M	Add +0.2%
IAU iShares Gold Trust	0.26%	23,132	$1.4M	No change
JPM JPMorgan Chase & Co.	0.26%	4,856	$1.4M	No change
COST Costco Wholesale Corp.	0.25%	1,387	$1.4M	Reduce -7.1%
JNJ Johnson & Johnson	0.21%	7,416	$1.1M	Reduce -27.3%
EWU iShares MSCI United Kingdom	0.20%	27,187	$1.1M	No change
UNP Union Pacific Corp.	0.20%	4,653	$1.1M	Reduce -7.0%
V Visa Inc. Class A	0.19%	3,007	$1.1M	Reduce -8.4%
IJT iShares S&P Small-Cap 600 GR	0.18%	7,465	$993K	No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS	0.18%	3,334	$983K	Add +0.1%
VEEV Veeva Systems Inc. Class A	0.16%	3,125	$900K	Reduce -0.0%
KO The Coca-Cola Co.	0.12%	9,350	$662K	No change
GOOG Alphabet Inc. Class C	0.12%	3,587	$636K	Add +0.3%
DIS The Walt Disney Co. filed as DISNEY WALT CO	0.12%	5,130	$636K	Reduce -1.2%
PFE Pfizer Inc.	0.11%	24,135	$585K	Add +0.2%
DFSU Dimensional US Sus CORE1 ETF	0.10%	14,177	$556K	No change
GLW Corning Inc.	0.10%	10,426	$548K	Reduce -0.0%
K Kellanova	0.10%	6,779	$539K	No change
DFGR Dim Global Real Estate ETF	0.09%	19,344	$519K	Add +26.7%
FLOT iShares Floating Rate Bond E	0.09%	9,226	$471K	Reduce -1.5%
ROK Rockwell Automation Inc.	0.08%	1,359	$451K	Reduce -0.1%
MRSH Marsh & McLennan Cos	0.08%	2,000	$437K	Reduce -41.1%
CAT Caterpillar Inc.	0.07%	1,016	$394K	Reduce -0.1%
HD Home Depot Inc.	0.07%	1,072	$393K	Reduce -3.3%
PEP Pepsico Inc.	0.07%	2,936	$388K	No change
IEUR iShares Core MSCI Europe ETF	0.07%	5,835	$386K	New
AMGN Amgen Inc.	0.07%	1,363	$381K	Reduce -0.1%
MCD McDonald's Corp.	0.07%	1,283	$375K	No change
LLY Eli Lilly & Co.	0.07%	468	$365K	No change
PFGC Performance Food Group Co.	0.06%	3,849	$337K	No change
NVDA Nvidia Corp.	0.06%	2,000	$316K	Add +1.6%
BX Blackstone Inc.	0.06%	2,108	$315K	Reduce -0.1%
META Meta Platforms Inc. Class A	0.06%	425	$314K	Reduce -1.2%
CWT California Water Service Grp	0.05%	6,610	$301K	Reduce -0.1%
GDX Vaneck Gold Miners ETF	0.05%	5,416	$282K	New
DCOR Dimensional US Core Eq 1 ETF	0.05%	4,180	$279K	New
IWB iShares Russell 1000 ETF	0.05%	806	$274K	No change
RSG Republic Services Inc.	0.05%	1,084	$267K	Reduce -0.6%
ORLY O'reilly Automotive Inc.	0.05%	2,940	$265K	Reduce -1.0%
PM Philip Morris International	0.05%	1,397	$254K	Add +10.8%
DFAR Dimensional US Real Est ETF	0.04%	9,968	$234K	No change
SCHF Schwab Intl Equity ETF	0.04%	10,451	$231K	No change
JMST JPM Ultra-Short Muni Income filed as J P MORGAN EXCHANGE TRADED F	0.04%	4,441	$226K	No change
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP	0.04%	2,461	$224K	Reduce -51.1%
MA Mastercard Inc. Class A	0.04%	393	$221K	Add +0.3%
YUM Yum! Brands Inc.	0.04%	1,374	$204K	Reduce -30.4%
AMTX Aemetis Inc.	0.01%	15,600	$39K	No change

Portfolio Sells Q1 2025 → Q2 2025


RHI Robert Half Inc.	Sold out	0.00%	−1.50
BRK.B Berkshire Hathaway Inc. Class B	Reduce -1.5%	6.40%	−1.05
AAPL Apple Inc.	Reduce -0.9%	4.49%	−0.64
PGR Progressive Corp.	Reduce -1.2%	4.88%	−0.60
XOM Exxon Mobil Corp.	Reduce -4.7%	2.57%	−0.54
ARE Alexandria Real Estate Equit	Reduce -3.6%	1.38%	−0.53
VRSN Verisign Inc.	Reduce -21.5%	3.02%	−0.52
KMX Carmax Inc.	Reduce -2.6%	1.82%	−0.44
WAT Waters Corp.	Reduce -1.4%	3.09%	−0.37
SBUX Starbucks Corp.	Reduce -1.4%	2.71%	−0.37
ACN Accenture PLC Class A	Reduce -0.6%	1.96%	−0.19
DEO Diageo PLC-Sponsored ADR	Reduce -1.6%	1.81%	−0.19
ADBE Adobe Inc.	Reduce -1.6%	3.11%	−0.16
CVX Chevron Corp.	Reduce -9.4%	0.45%	−0.16
JNJ Johnson & Johnson	Reduce -27.3%	0.21%	−0.12
WRB WR Berkley Corp.	Reduce -2.1%	3.17%	−0.11
MRSH Marsh & McLennan Cos	Reduce -41.1%	0.08%	−0.08
VLO Valero Energy Corp.	Reduce -1.8%	1.39%	−0.06
BMY Bristol-Myers Squibb Co.	Sold out	0.00%	−0.05
XLK SS Technology Select Sector	Sold out	0.00%	−0.04
DIA SS SPDR Dow Jones Indus Avg	Sold out	0.00%	−0.04
SCHO Schwab Short-Term US Treas	Reduce -1.0%	0.76%	−0.04
BNY Bank of New York Mellon Corp.	Reduce -51.1%	0.04%	−0.04
PG The Procter & Gamble Co.	Reduce -1.1%	0.30%	−0.04
OKE Oneok Inc.	Sold out	0.00%	−0.04
UNP Union Pacific Corp.	Reduce -7.0%	0.20%	−0.03
V Visa Inc. Class A	Reduce -8.4%	0.19%	−0.02
SPY SS SPDR S&P 500 ETF Trust-US	Reduce -11.9%	0.33%	−0.02
YUM Yum! Brands Inc.	Reduce -30.4%	0.04%	−0.02
COST Costco Wholesale Corp.	Reduce -7.1%	0.25%	−0.02
AMGN Amgen Inc.	Reduce -0.1%	0.07%	−0.01
CWT California Water Service Grp	Reduce -0.1%	0.05%	−0.01
HD Home Depot Inc.	Reduce -3.3%	0.07%	−0.01
ORLY O'reilly Automotive Inc.	Reduce -1.0%	0.05%	−0.01
FLOT iShares Floating Rate Bond E	Reduce -1.5%	0.09%	−0.01
DFAC Dimensional US Core Equity 2	Reduce -4.0%	0.92%	−0.00
RSG Republic Services Inc.	Reduce -0.6%	0.05%	−0.00
BA The Boeing Co.	Reduce -14.9%	0.29%	−0.00
BX Blackstone Inc.	Reduce -0.1%	0.06%	+0.00
CAT Caterpillar Inc.	Reduce -0.1%	0.07%	+0.01
GLW Corning Inc.	Reduce -0.0%	0.10%	+0.01
META Meta Platforms Inc. Class A	Reduce -1.2%	0.06%	+0.01
MKL Markel Group Inc.	Reduce -1.7%	3.03%	+0.01
ROK Rockwell Automation Inc.	Reduce -0.1%	0.08%	+0.02
DIS The Walt Disney Co.	Reduce -1.2%	0.12%	+0.02
VEEV Veeva Systems Inc. Class A	Reduce -0.0%	0.16%	+0.03
J Jacobs Solutions Inc.	Reduce -1.6%	3.43%	+0.08
AMZN Amazon.com Inc.	Reduce -1.2%	2.59%	+0.21
COF Capital One Financial Corp.	Reduce -1.5%	2.82%	+0.30
GOOGL Alphabet Inc. Class A	Reduce -1.7%	4.58%	+0.31

Portfolio Buys Q1 2025 → Q2 2025


HUBB Hubbell Inc.	New	2.32%	+2.32
BAC Bank of America Corp.	Add +6.4%	4.81%	+0.64
DCRE DBL Comm Real Est Debt	Add +1363.4%	0.55%	+0.51
MTBA Simplify MBS ETF	Add +30.2%	2.33%	+0.46
DFAU Dimensional US Core Equity M	Add +21.8%	1.89%	+0.42
GLDM SPDR Gold Minishares Trust	New	0.30%	+0.30
DFAI Dimensional International Co.	Add +12.0%	1.29%	+0.20
CMCSA Comcast Corp. Class A	Add +21.8%	1.80%	+0.20
DUHP Dimensional US High Profi Et	Add +2.0%	2.77%	+0.12
SCHR Schwab Intermediate-Term US	Add +38.4%	0.31%	+0.08
IEUR iShares Core MSCI Europe ETF	New	0.07%	+0.07
DFAE Dimensional Emerging Core Eq	Add +10.1%	0.39%	+0.06
DIHP Dimensional International Hi	Add +7.8%	0.47%	+0.05
NVO Novo-Nordisk A/S-Spons ADR	Add +7.5%	2.53%	+0.05
GDX Vaneck Gold Miners ETF	New	0.05%	+0.05
DCOR Dimensional US Core Eq 1 ETF	New	0.05%	+0.05
DFAT Dimensional US Target Value	Add +10.6%	0.30%	+0.03
DFAX Dimensional World Ex US Core	Add +1.8%	0.31%	+0.03
IBM Intl Business Machines Corp.	Add +0.1%	0.18%	+0.02
DFGR Dim Global Real Estate ETF	Add +26.7%	0.09%	+0.02
NVDA Nvidia Corp.	Add +1.6%	0.06%	+0.02
GOOG Alphabet Inc. Class C	Add +0.3%	0.12%	+0.01
PM Philip Morris International	Add +10.8%	0.05%	+0.01
MA Mastercard Inc. Class A	Add +0.3%	0.04%	−0.00
PFE Pfizer Inc.	Add +0.2%	0.11%	−0.01
VTIP Vanguard Short-Term Tips	Add +2.4%	0.80%	−0.01
SCHP Schwab U.S. Tips ETF	Add +0.2%	0.29%	−0.01

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