Hutner Capital Management Inc.
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 13, 2025), Hutner Capital Management Inc. reported 48 stock positions worth $234.3 million. Its top holding was Berkshire Hathaway Class A (BRK.A) at 17.4% of the portfolio, followed by Berkshire Hathaway Class B (BRK.B, 8.6%) and Costco Wholesale (COST, 6.3%). Compared with Q4 2024, it opened 3 new positions, added to 20 and reduced 21. The biggest buy was Berkshire Hathaway Class B (BRK.B, shares +10%) and the biggest sale Costco Wholesale (COST, shares −4%).
- Most Recent 13F
- Q2 2026
- Location
- MANCHESTER, VT
- CIK
- 0000944733
- Portfolio Value
- $234.3M (Q1 2025)
- SEC Filing
- 0000944733-25-000002 ↗ filed May 13, 2025
Holdings Value
Holdings 48 stocks · $234.3M
| BRK.A Berkshire Hathaway Inc. Class A | 17.38% | 51 | $40.7M | Reduce -1.9% |
| BRK.B Berkshire Hathaway Inc. Class B | 8.63% | 37,966 | $20.2M | Add +9.8% |
| COST Costco Wholesale Corp. | 6.27% | 15,522 | $14.7M | Reduce -4.1% |
| PM Philip Morris International | 5.32% | 78,487 | $12.5M | Add +2.2% |
| KO The Coca-Cola Co. | 4.61% | 150,719 | $10.8M | Add +2.0% |
| MCD McDonald's Corp. | 4.58% | 34,382 | $10.7M | Add +5.4% |
| PG The Procter & Gamble Co. | 3.92% | 53,919 | $9.2M | Add +1.3% |
| ABBV Abbvie Inc. | 3.85% | 43,096 | $9.0M | Add +1.6% |
| PEP Pepsico Inc. | 3.49% | 54,525 | $8.2M | Add +1.4% |
| JNJ Johnson & Johnson | 3.38% | 47,697 | $7.9M | Add +3.0% |
| FNV Franco-Nevada Corp. | 3.22% | 47,842 | $7.5M | Add +20.1% |
| GOOG Alphabet Inc. Class C | 2.78% | 41,648 | $6.5M | Add +15.3% |
| MO Altria Group Inc. | 2.73% | 106,733 | $6.4M | Add +3.8% |
| ENB Enbridge Inc. | 2.63% | 139,241 | $6.2M | Add +13.0% |
| AXP American Express Co. | 2.56% | 22,309 | $6.0M | Reduce -0.2% |
| WMT Walmart Inc. | 2.37% | 63,281 | $5.6M | Reduce -2.1% |
| ABT Abbott Laboratories | 2.34% | 41,248 | $5.5M | Reduce -1.4% |
| EPD Enterprise Products Partners | 1.80% | 123,369 | $4.2M | Add +20.2% |
| VRSK Verisk Analytics Inc. | 1.68% | 13,220 | $3.9M | Reduce -0.1% |
| AAPL Apple Inc. | 1.66% | 17,523 | $3.9M | Add +0.1% |
| UNP Union Pacific Corp. | 1.34% | 13,315 | $3.1M | Add +1.0% |
| ORLY O'reilly Automotive Inc. | 1.26% | 2,060 | $3.0M | Add +11.8% |
| GPC Genuine Parts Co. | 1.15% | 22,603 | $2.7M | Reduce -2.2% |
| O Realty Income Corp. | 1.11% | 44,694 | $2.6M | Add +2.9% |
| ADI Analog Devices Inc. | 1.08% | 12,500 | $2.5M | Reduce -1.5% |
| CB Chubb Ltd. | 1.02% | 7,943 | $2.4M | Add +23.0% |
| OKE Oneok Inc. | 0.86% | 20,369 | $2.0M | Reduce -1.1% |
| DEO Diageo PLC-Sponsored ADR | 0.79% | 17,716 | $1.9M | Reduce -1.4% |
| NSC Norfolk Southern Corp. | 0.75% | 7,464 | $1.8M | Reduce -0.6% |
| QSR Restaurant Brands Intern | 0.62% | 21,660 | $1.4M | Reduce -9.9% |
| HSY The Hershey Co. | 0.59% | 8,130 | $1.4M | Reduce -1.9% |
| WFC Wells Fargo & Co. | 0.46% | 15,117 | $1.1M | No change |
| PGR Progressive Corp. | 0.42% | 3,487 | $987K | New |
| V Visa Inc. Class A | 0.40% | 2,644 | $927K | New |
| EXPD Expeditors Intl Wash Inc. | 0.37% | 7,306 | $879K | No change |
| SHW The Sherwin-Williams Co. | 0.36% | 2,426 | $847K | Add +0.5% |
| YUM Yum! Brands Inc. | 0.34% | 5,109 | $804K | Add +1.2% |
| NVS Novartis AG-Sponsored ADR | 0.27% | 5,764 | $643K | Reduce -2.2% |
| WEC WEC Energy Group Inc. | 0.25% | 5,427 | $591K | No change |
| UPS United Parcel Service Class B | 0.21% | 4,552 | $501K | Reduce -13.3% |
| MCO Moody's Corp. | 0.19% | 945 | $440K | Reduce -1.5% |
| KHC The Kraft Heinz Co. | 0.18% | 13,824 | $421K | Reduce -10.8% |
| CVX Chevron Corp. | 0.18% | 2,488 | $416K | Reduce -5.0% |
| ZTS Zoetis Inc. | 0.15% | 2,115 | $348K | New |
| AMT American Tower Corp. | 0.14% | 1,546 | $337K | Reduce -34.1% |
| MDLZ Mondelez International Inc. Class A | 0.11% | 3,647 | $247K | Reduce -1.2% |
| VZ Verizon Communications Inc. | 0.10% | 5,370 | $244K | Reduce -6.3% |
| UNH Unitedhealth Group Inc. | 0.09% | 400 | $210K | No change |
Portfolio Sells Q4 2024 → Q1 2025
| COST Costco Wholesale Corp. | Reduce -4.1% | 6.27% | −0.90 |
| AXP American Express Co. | Reduce -0.2% | 2.56% | −0.64 |
| WMT Walmart Inc. | Reduce -2.1% | 2.37% | −0.45 |
| DEO Diageo PLC-Sponsored ADR | Reduce -1.4% | 0.79% | −0.31 |
| ADI Analog Devices Inc. | Reduce -1.5% | 1.08% | −0.23 |
| GPC Genuine Parts Co. | Reduce -2.2% | 1.15% | −0.15 |
| QSR Restaurant Brands Intern | Reduce -9.9% | 0.62% | −0.14 |
| OKE Oneok Inc. | Reduce -1.1% | 0.86% | −0.14 |
| UPS United Parcel Service Class B | Reduce -13.3% | 0.21% | −0.11 |
| NSC Norfolk Southern Corp. | Reduce -0.6% | 0.75% | −0.10 |
| HSY The Hershey Co. | Reduce -1.9% | 0.59% | −0.08 |
| VRSK Verisk Analytics Inc. | Reduce -0.1% | 1.68% | −0.08 |
| AMT American Tower Corp. | Reduce -34.1% | 0.14% | −0.06 |
| KHC The Kraft Heinz Co. | Reduce -10.8% | 0.18% | −0.05 |
| MCO Moody's Corp. | Reduce -1.5% | 0.19% | −0.03 |
| VZ Verizon Communications Inc. | Reduce -6.3% | 0.10% | −0.01 |
| CVX Chevron Corp. | Reduce -5.0% | 0.18% | −0.01 |
| NVS Novartis AG-Sponsored ADR | Reduce -2.2% | 0.27% | −0.00 |
| MDLZ Mondelez International Inc. Class A | Reduce -1.2% | 0.11% | −0.00 |
| ABT Abbott Laboratories | Reduce -1.4% | 2.34% | +0.05 |
| BRK.A Berkshire Hathaway Inc. Class A | Reduce -1.9% | 17.38% | +0.28 |
Portfolio Buys Q4 2024 → Q1 2025
| BRK.B Berkshire Hathaway Inc. Class B | Add +9.8% | 8.63% | +1.06 |
| FNV Franco-Nevada Corp. | Add +20.1% | 3.22% | +0.95 |
| PM Philip Morris International | Add +2.2% | 5.32% | +0.85 |
| PGR Progressive Corp. | New | 0.42% | +0.42 |
| V Visa Inc. Class A | New | 0.40% | +0.40 |
| EPD Enterprise Products Partners | Add +20.2% | 1.80% | +0.24 |
| ABBV Abbvie Inc. | Add +1.6% | 3.85% | +0.21 |
| ORLY O'reilly Automotive Inc. | Add +11.8% | 1.26% | +0.20 |
| KO The Coca-Cola Co. | Add +2.0% | 4.61% | +0.16 |
| CB Chubb Ltd. | Add +23.0% | 1.02% | +0.16 |
| ZTS Zoetis Inc. | New | 0.15% | +0.15 |
| JNJ Johnson & Johnson | Add +3.0% | 3.38% | +0.14 |
| MO Altria Group Inc. | Add +3.8% | 2.73% | +0.14 |
| ENB Enbridge Inc. | Add +13.0% | 2.63% | +0.11 |
| YUM Yum! Brands Inc. | Add +1.2% | 0.34% | +0.02 |
| MCD McDonald's Corp. | Add +5.4% | 4.58% | +0.02 |
| O Realty Income Corp. | Add +2.9% | 1.11% | −0.01 |
| SHW The Sherwin-Williams Co. | Add +0.5% | 0.36% | −0.03 |
| UNP Union Pacific Corp. | Add +1.0% | 1.34% | −0.11 |
| PG The Procter & Gamble Co. | Add +1.3% | 3.92% | −0.39 |
| AAPL Apple Inc. | Add +0.1% | 1.66% | −0.45 |
| PEP Pepsico Inc. | Add +1.4% | 3.49% | −0.46 |
| GOOG Alphabet Inc. Class C | Add +15.3% | 2.78% | −0.54 |
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 |