Hutner Capital Management Inc.
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 13, 2025), Hutner Capital Management Inc. reported 44 stock positions worth $219.8 million. Its top holding was Berkshire Hathaway Class A (BRK.A) at 13.9% of the portfolio, followed by Berkshire Hathaway Class B (BRK.B, 9.1%) and Costco Wholesale (COST, 6.4%). Compared with Q1 2025, it sold out of 4, added to 17 and reduced 25. The biggest buy was Berkshire Hathaway Class B (BRK.B, shares +9%) and the biggest sale Berkshire Hathaway Class A (BRK.A, shares −18%).
- Most Recent 13F
- Q2 2026
- Location
- MANCHESTER, VT
- CIK
- 0000944733
- Portfolio Value
- $219.8M (Q2 2025)
- SEC Filing
- 0000944733-25-000003 ↗ filed Aug 13, 2025
Holdings Value
Holdings 44 stocks · $219.8M
| BRK.A Berkshire Hathaway Inc. Class A | 13.92% | 42 | $30.6M | Reduce -17.6% |
| BRK.B Berkshire Hathaway Inc. Class B | 9.13% | 41,301 | $20.1M | Add +8.8% |
| COST Costco Wholesale Corp. | 6.41% | 14,227 | $14.1M | Reduce -8.3% |
| PM Philip Morris International | 6.10% | 73,616 | $13.4M | Reduce -6.2% |
| KO The Coca-Cola Co. | 4.92% | 153,003 | $10.8M | Add +1.5% |
| MCD McDonald's Corp. | 4.57% | 34,351 | $10.0M | Reduce -0.1% |
| PG The Procter & Gamble Co. | 3.86% | 53,226 | $8.5M | Reduce -1.3% |
| ABBV Abbvie Inc. | 3.54% | 41,964 | $7.8M | Reduce -2.6% |
| FNV Franco-Nevada Corp. | 3.35% | 44,995 | $7.4M | Reduce -6.0% |
| PEP Pepsico Inc. | 3.30% | 54,957 | $7.3M | Add +0.8% |
| GOOG Alphabet Inc. Class C | 3.13% | 38,790 | $6.9M | Reduce -6.9% |
| ENB Enbridge Inc. | 3.04% | 147,628 | $6.7M | Add +6.0% |
| AXP American Express Co. | 3.00% | 20,659 | $6.6M | Reduce -7.4% |
| JNJ Johnson & Johnson | 2.96% | 42,631 | $6.5M | Reduce -10.6% |
| MO Altria Group Inc. | 2.96% | 110,894 | $6.5M | Add +3.9% |
| WMT Walmart Inc. | 2.66% | 59,899 | $5.9M | Reduce -5.3% |
| ABT Abbott Laboratories | 2.57% | 41,474 | $5.6M | Add +0.6% |
| EPD Enterprise Products Partners | 1.93% | 136,489 | $4.2M | Add +10.6% |
| AAPL Apple Inc. | 1.88% | 20,094 | $4.1M | Add +14.7% |
| VRSK Verisk Analytics Inc. | 1.59% | 11,200 | $3.5M | Reduce -15.3% |
| CB Chubb Ltd. | 1.29% | 9,816 | $2.8M | Add +23.6% |
| UNP Union Pacific Corp. | 1.25% | 11,948 | $2.7M | Reduce -10.3% |
| GPC Genuine Parts Co. | 1.25% | 22,622 | $2.7M | Add +0.1% |
| O Realty Income Corp. | 1.18% | 45,140 | $2.6M | Add +1.0% |
| ORLY O'reilly Automotive Inc. | 1.17% | 28,607 | $2.6M | Reduce -7.4% |
| ADI Analog Devices Inc. | 1.14% | 10,546 | $2.5M | Reduce -15.6% |
| NSC Norfolk Southern Corp. | 0.86% | 7,344 | $1.9M | Reduce -1.6% |
| DEO Diageo PLC-Sponsored ADR | 0.77% | 16,768 | $1.7M | Reduce -5.3% |
| OKE Oneok Inc. | 0.74% | 19,984 | $1.6M | Reduce -1.9% |
| V Visa Inc. Class A | 0.70% | 4,334 | $1.5M | Add +63.9% |
| PGR Progressive Corp. | 0.65% | 5,354 | $1.4M | Add +53.5% |
| HSY The Hershey Co. | 0.57% | 7,595 | $1.3M | Reduce -6.6% |
| WFC Wells Fargo & Co. | 0.55% | 15,118 | $1.2M | Add +0.0% |
| QSR Restaurant Brands Intern | 0.48% | 15,954 | $1.1M | Reduce -26.3% |
| YUM Yum! Brands Inc. | 0.43% | 6,324 | $937K | Add +23.8% |
| SHW The Sherwin-Williams Co. | 0.42% | 2,715 | $932K | Add +11.9% |
| EXPD Expeditors Intl Wash Inc. | 0.34% | 6,526 | $746K | Reduce -10.7% |
| NVS Novartis AG-Sponsored ADR | 0.32% | 5,787 | $700K | Add +0.4% |
| WEC WEC Energy Group Inc. | 0.26% | 5,427 | $565K | No change |
| MCO Moody's Corp. | 0.22% | 945 | $474K | No change |
| UPS United Parcel Service Class B | 0.20% | 4,403 | $444K | Reduce -3.3% |
| AMT American Tower Corp. | 0.15% | 1,538 | $340K | Reduce -0.5% |
| ZTS Zoetis Inc. | 0.14% | 1,977 | $308K | Reduce -6.5% |
| MDLZ Mondelez International Inc. Class A | 0.10% | 3,398 | $229K | Reduce -6.8% |
Portfolio Sells Q1 2025 → Q2 2025
| BRK.A Berkshire Hathaway Inc. Class A | Reduce -17.6% | 13.92% | −3.46 |
| JNJ Johnson & Johnson | Reduce -10.6% | 2.96% | −0.41 |
| ABBV Abbvie Inc. | Reduce -2.6% | 3.54% | −0.31 |
| KHC The Kraft Heinz Co. | Sold out | 0.00% | −0.18 |
| CVX Chevron Corp. | Sold out | 0.00% | −0.18 |
| QSR Restaurant Brands Intern | Reduce -26.3% | 0.48% | −0.14 |
| OKE Oneok Inc. | Reduce -1.9% | 0.74% | −0.12 |
| VZ Verizon Communications Inc. | Sold out | 0.00% | −0.10 |
| VRSK Verisk Analytics Inc. | Reduce -15.3% | 1.59% | −0.09 |
| UNP Union Pacific Corp. | Reduce -10.3% | 1.25% | −0.09 |
| UNH Unitedhealth Group Inc. | Sold out | 0.00% | −0.09 |
| ORLY O'reilly Automotive Inc. | Reduce -7.4% | 1.17% | −0.09 |
| PG The Procter & Gamble Co. | Reduce -1.3% | 3.86% | −0.06 |
| EXPD Expeditors Intl Wash Inc. | Reduce -10.7% | 0.34% | −0.04 |
| DEO Diageo PLC-Sponsored ADR | Reduce -5.3% | 0.77% | −0.02 |
| HSY The Hershey Co. | Reduce -6.6% | 0.57% | −0.02 |
| MCD McDonald's Corp. | Reduce -0.1% | 4.57% | −0.02 |
| UPS United Parcel Service Class B | Reduce -3.3% | 0.20% | −0.01 |
| ZTS Zoetis Inc. | Reduce -6.5% | 0.14% | −0.01 |
| MDLZ Mondelez International Inc. Class A | Reduce -6.8% | 0.10% | −0.00 |
| AMT American Tower Corp. | Reduce -0.5% | 0.15% | +0.01 |
| ADI Analog Devices Inc. | Reduce -15.6% | 1.14% | +0.07 |
| NSC Norfolk Southern Corp. | Reduce -1.6% | 0.86% | +0.10 |
| FNV Franco-Nevada Corp. | Reduce -6.0% | 3.35% | +0.14 |
| COST Costco Wholesale Corp. | Reduce -8.3% | 6.41% | +0.14 |
| WMT Walmart Inc. | Reduce -5.3% | 2.66% | +0.29 |
| GOOG Alphabet Inc. Class C | Reduce -6.9% | 3.13% | +0.35 |
| AXP American Express Co. | Reduce -7.4% | 3.00% | +0.44 |
| PM Philip Morris International | Reduce -6.2% | 6.10% | +0.78 |
Portfolio Buys Q1 2025 → Q2 2025
| BRK.B Berkshire Hathaway Inc. Class B | Add +8.8% | 9.13% | +0.50 |
| ENB Enbridge Inc. | Add +6.0% | 3.04% | +0.41 |
| KO The Coca-Cola Co. | Add +1.5% | 4.92% | +0.32 |
| V Visa Inc. Class A | Add +63.9% | 0.70% | +0.30 |
| CB Chubb Ltd. | Add +23.6% | 1.29% | +0.27 |
| ABT Abbott Laboratories | Add +0.6% | 2.57% | +0.23 |
| PGR Progressive Corp. | Add +53.5% | 0.65% | +0.23 |
| MO Altria Group Inc. | Add +3.9% | 2.96% | +0.22 |
| AAPL Apple Inc. | Add +14.7% | 1.88% | +0.21 |
| EPD Enterprise Products Partners | Add +10.6% | 1.93% | +0.13 |
| GPC Genuine Parts Co. | Add +0.1% | 1.25% | +0.10 |
| WFC Wells Fargo & Co. | Add +0.0% | 0.55% | +0.09 |
| YUM Yum! Brands Inc. | Add +23.8% | 0.43% | +0.08 |
| O Realty Income Corp. | Add +1.0% | 1.18% | +0.08 |
| SHW The Sherwin-Williams Co. | Add +11.9% | 0.42% | +0.06 |
| NVS Novartis AG-Sponsored ADR | Add +0.4% | 0.32% | +0.04 |
| PEP Pepsico Inc. | Add +0.8% | 3.30% | −0.19 |
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 |