SEC 13F Intelligence

Managers / Q1 2026

HUTNER CAPITAL MANAGEMENT INC

CIK 0000944733 · 3546 MAIN STREET BOX 379, MANCHESTER, VT, 05254 · 8023668157

Reported Value
$243M
Q1 2026
Positions
44
Filings on Record
30
2019–present window
Filed
May 15, 2026
original filing

Summary

Hutner Capital Management Inc reported $243M in U.S.-listed holdings across 44 positions for Q1 2026.

Its largest position, BRK/A, represents 12.1% of the portfolio.

The book was largely unchanged from Q4 2025.

Portfolio Metrics

Turnover
+4.0%
vs prior filed quarter
Top-10 Concentration
+58.6%
share of reported value
Largest Position
+12.1%
Berkshire Hathaway

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $128MQ4 ’18Q1 ’19: $137MQ2 ’19: $141MQ3 ’19: $141MQ4 ’19: $145MQ4 ’19Q1 ’20: $109MQ2 ’20: $118MQ3 ’20: $135MQ4 ’20: $144MQ4 ’20Q1 ’21: $152MQ2 ’21: $156MQ3 ’21: $153MQ4 ’21: $171MQ4 ’21Q1 ’22: $175MQ2 ’22: $152MQ3 ’22: $143MQ4 ’22: $161MQ4 ’22Q1 ’23: $164MQ2 ’23: $171MQ3 ’23: $163MQ4 ’23: $170MQ4 ’23Q1 ’24: $184MQ2 ’24: $182MQ3 ’24: $201MQ4 ’24: $207MQ4 ’24Q1 ’25: $234MQ2 ’25: $220MQ3 ’25: $236MQ4 ’25: $240MQ4 ’25Q1 ’26: $243Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 94.0%MLP: 2.1%Other: 1.7%REIT: 1.4%ADR: 0.7%
  • Common Stock · 94.0% · $229M
  • MLP · 2.1% · $5M
  • Other · 1.7% · $4M
  • REIT · 1.4% · $3M
  • ADR · 0.7% · $2M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
UPSUnited Parcel Svc Inc Cl BTRIMMED−1.9K2.4K−$190,103$240,430
DGEDDiageo PLC Sponsored ADRTRIMMED−7.2K9.4K−$729,516$703,121
AMTAmerican Tower Systems Corp ClTRIMMED−2311.2K−$44,221$213,507
VVisa IncADDED+6007.5K−$154,057$2M
GPCGenuine Parts CoTRIMMED−1.4K23.7K−$576,133$3M
YUMYum Brands IncADDED+51610.3K+$121,442$2M
VRSKVerisk AnalyticsHELD+55811.8K−$274,247$2M
Chubb LimitedHELD+56111.8K+$338,811$4M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q1 2026

42 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1BRK/ABerkshire Hathaway Inc Cl ACOM20.36%$50M42.0K
2COSTCostco Whsl Corphistory →COM5.77%$14M14.1K
34I1Philip Morris International Inhistory →COM4.90%$12M72.1K
4KOCoca-Cola Companyhistory →COM4.80%$12M153.7K
5FNVFranco-Nevada Corphistory →COM4.79%$12M47.2K
6GOOGAlphabet Inc Class CCOM4.79%$12M40.7K
7JNJJohnson & Johnsonhistory →COM4.53%$11M45.1K
8MCDMcDonald's Corphistory →COM4.48%$11M35.1K
9PEPPepsiCo Inchistory →COM4.24%$10M66.5K
10ABBVAbbVie Inchistory →COM3.57%$9M40.0K
11ENBEnbridge Inchistory →COM3.57%$9M160.7K
12PGProcter & Gamble Cohistory →COM3.17%$8M53.5K
13MOAltria Group Inchistory →COM3.07%$7M113.3K
14WMTWalmart Inchistory →COM2.96%$7M58.0K
15AXPAmerican Express Companyhistory →COM2.56%$6M20.6K
16AAPLApple Inchistory →COM2.30%$6M22.1K
17EPDEnterprise Prods Partners LPhistory →COM2.13%$5M137.1K
18ABTAbbott Labshistory →COM1.86%$5M44.0K
19Chubb LimitedCOM1.59%$4M11.8K
20ADIAnalog Devices Inchistory →COM1.53%$4M11.7K
21ORealty Income Corphistory →COM1.33%$3M53.0K
22UNPUnion Pacific Corphistory →COM1.25%$3M12.5K
23ORLYO'Reilly Automotive Inchistory →COM1.12%$3M29.5K
24GPCGenuine Parts Cohistory →COM1.03%$3M23.7K
25VVisa IncCOM0.93%$2M7.5K
26VRSKVerisk AnalyticsCOM0.92%$2M11.8K
27NSCNorfolk Southern CorpCOM0.88%$2M7.5K
28HSYHershey CompanyCOM0.79%$2M9.3K
29YUMYum Brands IncCOM0.66%$2M10.3K
30QSRRestaurant Brands InternationaCOM0.55%$1M18.0K
31PGRProgressive CorpCOM0.49%$1M6.0K
32SHWSherwin-Williams Co.COM0.49%$1M3.7K
33WFCWells Fargo & CoCOM0.49%$1M15.0K
34NVSNNovartis International AG ADRADR0.43%$1M6.8K
35EXPDExpeditors InternationalCOM0.38%$928,8346.5K
36DGEDDiageo PLC Sponsored ADRADR0.29%$703,1219.4K
37OKEOneok, IncCOM0.26%$629,2957.0K
38WECWEC Energy Group IncCOM0.25%$617,7495.3K
39DUTMoody's CorpCOM0.17%$412,256945
40Zoetis Inc Cl ACOM0.13%$322,6112.7K
41UPSUnited Parcel Svc Inc Cl BCOM0.10%$240,4302.4K
42AMTAmerican Tower Systems Corp ClCOM0.09%$213,5071.2K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$243M44May 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$240M44Feb 17, 202613F-HRchanges · EDGAR ↗
Q3 2025$236M44Nov 13, 202513F-HRchanges · EDGAR ↗
Q2 2025$220M44Aug 13, 202513F-HRchanges · EDGAR ↗
Q1 2025$234M48May 13, 202513F-HRchanges · EDGAR ↗
Q4 2024$207M45Feb 14, 202513F-HRchanges · EDGAR ↗
Q3 2024$201M45Nov 13, 202413F-HRchanges · EDGAR ↗
Q2 2024$182M44Aug 13, 202413F-HRchanges · EDGAR ↗
Q1 2024$184M43May 10, 202413F-HRchanges · EDGAR ↗
Q4 2023$170M44Feb 14, 202413F-HRchanges · EDGAR ↗
Q3 2023$163M45Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$171M44Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$164M44May 15, 202313F-HRchanges · EDGAR ↗
Q4 2022$161M44Feb 14, 202313F-HRchanges · EDGAR ↗
Q3 2022$143M44Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$152M43Aug 11, 202213F-HRchanges · EDGAR ↗
Q1 2022$175M45May 13, 202213F-HRchanges · EDGAR ↗
Q4 2021$171M46Feb 11, 202213F-HRchanges · EDGAR ↗
Q3 2021$153M45Nov 12, 202113F-HRchanges · EDGAR ↗
Q2 2021$156M46Aug 13, 202113F-HRchanges · EDGAR ↗
Q1 2021$152M46May 18, 202113F-HRchanges · EDGAR ↗
Q4 2020$144M43Feb 16, 202113F-HRchanges · EDGAR ↗
Q3 2020$135M44Nov 13, 202013F-HRchanges · EDGAR ↗
Q2 2020$118M39Aug 14, 202013F-HRchanges · EDGAR ↗
Q1 2020$109M41May 13, 202013F-HRchanges · EDGAR ↗
Q4 2019$145M43Jan 30, 202013F-HRchanges · EDGAR ↗
Q3 2019$141M42Nov 12, 201913F-HRchanges · EDGAR ↗
Q2 2019$141M42Aug 7, 201913F-HRchanges · EDGAR ↗
Q1 2019$137M41May 10, 201913F-HRchanges · EDGAR ↗
Q4 2018$128M41Feb 12, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.