Hutner Capital Management Inc.
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 10, 2024), Hutner Capital Management Inc. reported 43 stock positions worth $184.4 million. Its top holding was Berkshire Hathaway Class A (BRK.A) at 17.9% of the portfolio, followed by Berkshire Hathaway Class B (BRK.B, 7.6%) and Costco Wholesale (COST, 6.5%). Compared with Q4 2023, it sold out of 1, added to 17 and reduced 14. The biggest buy was Alphabet Class C (GOOG, shares +40%) and the biggest sale McDonald's (MCD, shares −0%).
- Most Recent 13F
- Q2 2026
- Location
- MANCHESTER, VT
- CIK
- 0000944733
- Portfolio Value
- $184.4M (Q1 2024)
- SEC Filing
- 0000944733-24-000002 ↗ filed May 10, 2024
Holdings Value
Holdings 43 stocks · $184.4M
| BRK.A Berkshire Hathaway Inc. Class A | 17.89% | 52 | $33.0M | No change |
| BRK.B Berkshire Hathaway Inc. Class B | 7.56% | 33,134 | $13.9M | Reduce -0.1% |
| COST Costco Wholesale Corp. | 6.49% | 16,330 | $12.0M | Add +0.3% |
| MCD McDonald's Corp. | 4.64% | 30,339 | $8.6M | Reduce -0.2% |
| PEP Pepsico Inc. | 4.51% | 47,573 | $8.3M | Reduce -0.1% |
| PG The Procter & Gamble Co. | 4.43% | 50,373 | $8.2M | Reduce -0.4% |
| KO The Coca-Cola Co. | 4.40% | 132,715 | $8.1M | Reduce -0.2% |
| ABBV Abbvie Inc. | 3.86% | 39,065 | $7.1M | Add +0.0% |
| JNJ Johnson & Johnson | 3.80% | 44,313 | $7.0M | Reduce -0.3% |
| PM Philip Morris International | 3.56% | 71,619 | $6.6M | Reduce -0.1% |
| AXP American Express Co. | 2.81% | 22,777 | $5.2M | Add +0.8% |
| ABT Abbott Laboratories | 2.66% | 43,121 | $4.9M | Reduce -0.2% |
| MO Altria Group Inc. | 2.41% | 102,056 | $4.5M | Add +0.0% |
| FNV Franco-Nevada Corp. | 2.23% | 34,558 | $4.1M | Add +1.9% |
| WMT Walmart Inc. | 2.20% | 67,312 | $4.1M | Reduce -0.4% |
| ENB Enbridge Inc. | 2.19% | 111,779 | $4.0M | Add +0.0% |
| GPC Genuine Parts Co. | 2.00% | 23,754 | $3.7M | Add +0.0% |
| GOOG Alphabet Inc. Class C | 1.99% | 24,125 | $3.7M | Add +40.4% |
| DEO Diageo PLC-Sponsored ADR | 1.98% | 24,532 | $3.6M | Reduce -1.2% |
| UNP Union Pacific Corp. | 1.80% | 13,466 | $3.3M | Add +0.0% |
| VRSK Verisk Analytics Inc. | 1.71% | 13,400 | $3.2M | No change |
| AAPL Apple Inc. | 1.67% | 17,989 | $3.1M | Add +6.8% |
| EPD Enterprise Products Partners | 1.44% | 90,782 | $2.6M | No change |
| ADI Analog Devices Inc. | 1.39% | 12,923 | $2.6M | No change |
| O Realty Income Corp. | 1.08% | 36,925 | $2.0M | Add +0.0% |
| QSR Restaurant Brands Intern | 1.08% | 25,110 | $2.0M | Add +8.2% |
| ORLY O'reilly Automotive Inc. | 1.08% | 1,759 | $2.0M | No change |
| NSC Norfolk Southern Corp. | 1.05% | 7,604 | $1.9M | Add +0.1% |
| HSY The Hershey Co. | 0.89% | 8,478 | $1.6M | Add +0.0% |
| OKE Oneok Inc. | 0.84% | 19,336 | $1.6M | Add +20.2% |
| AMT American Tower Corp. | 0.57% | 5,304 | $1.0M | No change |
| EXPD Expeditors Intl Wash Inc. | 0.52% | 7,912 | $962K | No change |
| WFC Wells Fargo & Co. | 0.48% | 15,127 | $877K | Add +0.0% |
| UPS United Parcel Service Class B | 0.44% | 5,506 | $818K | Reduce -1.9% |
| SHW The Sherwin-Williams Co. | 0.39% | 2,063 | $716K | No change |
| CVX Chevron Corp. | 0.37% | 4,375 | $690K | No change |
| YUM Yum! Brands Inc. | 0.37% | 4,957 | $687K | Add +0.5% |
| KHC The Kraft Heinz Co. | 0.35% | 17,592 | $649K | Reduce -0.7% |
| WEC WEC Energy Group Inc. | 0.24% | 5,427 | $446K | No change |
| MCO Moody's Corp. | 0.21% | 969 | $381K | No change |
| VZ Verizon Communications Inc. | 0.15% | 6,459 | $271K | Reduce -3.4% |
| MDLZ Mondelez International Inc. Class A | 0.15% | 3,860 | $270K | Reduce -1.5% |
| UNH Unitedhealth Group Inc. | 0.12% | 432 | $214K | No change |
Portfolio Sells Q4 2023 → Q1 2024
| MCD McDonald's Corp. | Reduce -0.2% | 4.64% | −0.67 |
| PM Philip Morris International | Reduce -0.1% | 3.56% | −0.42 |
| JNJ Johnson & Johnson | Reduce -0.3% | 3.80% | −0.31 |
| PEP Pepsico Inc. | Reduce -0.1% | 4.51% | −0.25 |
| KO The Coca-Cola Co. | Reduce -0.2% | 4.40% | −0.22 |
| DEO Diageo PLC-Sponsored ADR | Reduce -1.2% | 1.98% | −0.15 |
| ABT Abbott Laboratories | Reduce -0.2% | 2.66% | −0.14 |
| NVS Novartis AG-Sponsored ADR | Sold out | 0.00% | −0.12 |
| UPS United Parcel Service Class B | Reduce -1.9% | 0.44% | −0.08 |
| KHC The Kraft Heinz Co. | Reduce -0.7% | 0.35% | −0.03 |
| MDLZ Mondelez International Inc. Class A | Reduce -1.5% | 0.15% | −0.02 |
| VZ Verizon Communications Inc. | Reduce -3.4% | 0.15% | −0.00 |
| PG The Procter & Gamble Co. | Reduce -0.4% | 4.43% | +0.06 |
| WMT Walmart Inc. | Reduce -0.4% | 2.20% | +0.10 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -0.1% | 7.56% | +0.58 |
Portfolio Buys Q4 2023 → Q1 2024
| GOOG Alphabet Inc. Class C | Add +40.4% | 1.99% | +0.56 |
| AXP American Express Co. | Add +0.8% | 2.81% | +0.32 |
| ABBV Abbvie Inc. | Add +0.0% | 3.86% | +0.29 |
| OKE Oneok Inc. | Add +20.2% | 0.84% | +0.18 |
| COST Costco Wholesale Corp. | Add +0.3% | 6.49% | +0.15 |
| GPC Genuine Parts Co. | Add +0.0% | 2.00% | +0.06 |
| WFC Wells Fargo & Co. | Add +0.0% | 0.48% | +0.04 |
| FNV Franco-Nevada Corp. | Add +1.9% | 2.23% | +0.02 |
| QSR Restaurant Brands Intern | Add +8.2% | 1.08% | +0.01 |
| YUM Yum! Brands Inc. | Add +0.5% | 0.37% | −0.01 |
| NSC Norfolk Southern Corp. | Add +0.1% | 1.05% | −0.01 |
| MO Altria Group Inc. | Add +0.0% | 2.41% | −0.01 |
| HSY The Hershey Co. | Add +0.0% | 0.89% | −0.04 |
| UNP Union Pacific Corp. | Add +0.0% | 1.80% | −0.15 |
| O Realty Income Corp. | Add +0.0% | 1.08% | −0.17 |
| ENB Enbridge Inc. | Add +0.0% | 2.19% | −0.18 |
| AAPL Apple Inc. | Add +6.8% | 1.67% | −0.24 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 43 | $252.1M | BRK.A, BRK.B, GOOG, COST, PM |
| Q1 2026 | 44 | $243.4M | BRK.A, BRK.B, COST, PM, KO |
| Q4 2025 | 44 | $239.6M | BRK.A, BRK.B, GOOG, COST, PM |
| Q3 2025 | 44 | $236.4M | BRK.A, BRK.B, COST, PM, MCD |
| Q2 2025 | 44 | $219.8M | BRK.A, BRK.B, COST, PM, KO |
| Q1 2025 | 48 | $234.3M | BRK.A, BRK.B, COST, PM, KO |
| Q4 2024 | 45 | $207.1M | BRK.A, BRK.B, COST, MCD, PM |
| Q3 2024 | 45 | $200.9M | BRK.A, BRK.B, COST, KO, MCD |
| Q2 2024 | 44 | $182.4M | BRK.A, COST, BRK.B, KO, PG |
| Q1 2024 | 43 | $184.4M | BRK.A, BRK.B, COST, MCD, PEP |