SEC 13F Intelligence

Managers / Q2 2019 · view latest →

HUTNER CAPITAL MANAGEMENT INC

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

Reported Value
$141M
Q2 2019
Positions
42
Filings on Record
30
2019–present window
Filed
Aug 7, 2019
original filing

Summary

Hutner Capital Management Inc reported $141M in U.S.-listed holdings across 42 positions for Q2 2019.

Its largest position, BRK/A, represents 18.1% of the portfolio.

Compared with Q1 2019, the fund opened 4 new positions and exited 3.

Portfolio Metrics

Turnover
+5.8%
vs prior filed quarter
Top-10 Concentration
+63.3%
share of reported value
Largest Position
+18.1%
Berkshire Hathaway
New / Exited
4 / 3
positions this quarter

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, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. 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: 85.7%ADR: 6.0%Other: 3.6%MLP: 2.6%REIT: 2.1%
  • Common Stock · 85.7% · $120M
  • ADR · 6.0% · $8M
  • Other · 3.6% · $5M
  • MLP · 2.6% · $4M
  • REIT · 2.1% · $3M

Quarter-over-Quarter Changes full breakdown →

vs Q1 2019 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
BUDAnheuser-Busch Inbev SA/NVNEW+33.4K33.4K+$3M$3M
ABBVAbbVie IncNEW+25.1K25.1K+$2M$2M
JPMJ.P. Morgan Chase & CoNEW+3.8K3.8K+$425,000$425,000
MCOMoodys CorpNEW+1.1K1.1K+$212,000$212,000
Anheuser-Busch Inbev SA/NVSOLD OUT−33.4K0−$3M$0
AbbVie IncSOLD OUT−25.1K0−$2M$0
EXMOCExxon Mobil CorpSOLD OUT−2.5K0−$201,000$0
Novartis ADRADDED+2.5K13.2K+$180,000$1M

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

Holdings — Q2 2019

41 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1BRK/ABerkshire Hathaway Inc Cl ACOM18.11%$25M37.3K
2MCDMcDonald's Corphistory →COM7.21%$10M48.8K
3PEPPepsico Inchistory →COM6.09%$9M65.3K
4KOCoca-Cola Companyhistory →COM5.94%$8M163.9K
5PGProcter & Gamble Cohistory →COM5.62%$8M72.1K
6JNJJohnson & Johnsonhistory →COM5.32%$7M53.7K
7COSTCostco Whsl Corphistory →COM4.15%$6M22.1K
8PMPhilip Morris International Inhistory →COM4.01%$6M71.7K
9DEODiageo PLC Sponsored ADR Newhistory →ADR3.58%$5M29.2K
10MOAltria Group Inchistory →COM3.26%$5M96.8K
11NSCNorfolk Southern Corphistory →COM2.95%$4M20.8K
12ABTAbbott Labshistory →COM2.87%$4M48.0K
13AXPAmerican Express Companyhistory →COM2.69%$4M30.6K
14Restaurant Brands InternationaCOM2.58%$4M52.2K
15WFCWells Fargo & Cohistory →COM2.43%$3M72.3K
16WMTWal Mart Stores Inchistory →COM2.22%$3M28.2K
17BUDAnheuser-Busch Inbev SA/NVhistory →ADR2.10%$3M33.4K
18GPCGenuine Parts Cohistory →COM2.07%$3M28.0K
19EPDEnterprise Prods Partners LPhistory →COM1.97%$3M95.9K
20ENBEnbridge Inchistory →COM1.78%$3M69.5K
21VRSKVerisk Analyticshistory →COM1.61%$2M15.5K
22ORealty Income Corphistory →COM1.59%$2M32.3K
23ABBVAbbVie Inchistory →COM1.30%$2M25.1K
24KHCKraft Heinz Cohistory →COM1.25%$2M56.7K
25Novartis ADRADR0.86%$1M13.2K
26UNPUnion Pacific CorpCOM0.81%$1M6.7K
27UPSUnited Parcel Svc Inc Cl BCOM0.81%$1M11.0K
28FNVFranco-Nevada CorpCOM0.70%$988,00011.6K
29Magellan Midstream Partners LPCOM0.64%$898,00014.0K
30Store CapitalCOM0.53%$751,00022.6K
31KMIKinder Morgan IncCOM0.48%$668,00032.0K
32MDLZMondelez International IncCOM0.47%$659,00012.2K
33JPMJ.P. Morgan Chase & CoCOM0.30%$425,0003.8K
34BTIBritish American TobaccoADR0.29%$405,00011.6K
35HSYHershey Food CorpCOM0.28%$393,0002.9K
36EXPDExpeditors InternationalCOM0.25%$347,0004.6K
37WECWEC Energy Group IncCOM0.23%$319,0003.8K
38Unilever PLCADR0.18%$257,0004.1K
39BAXBaxter InternationalCOM0.18%$250,0003.1K
40AAPLApple Computer IncCOM0.16%$222,0001.1K
41MCOMoodys CorpCOM0.15%$212,0001.1K

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 ↗.