SEC 13F Intelligence

Managers / Q1 2021 · view latest →

HUTNER CAPITAL MANAGEMENT INC

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

Reported Value
$152M
Q1 2021
Positions
46
Filings on Record
30
2019–present window
Filed
May 18, 2021
original filing

Summary

Hutner Capital Management Inc reported $152M in U.S.-listed holdings across 46 positions for Q1 2021.

Its largest position, BRK/A, represents 13.9% of the portfolio.

Compared with Q4 2020, the fund opened 3 new positions and exited 0.

Portfolio Metrics

Turnover
+1.9%
vs prior filed quarter
Top-10 Concentration
+58.7%
share of reported value
Largest Position
+13.9%
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: 91.5%ADR: 4.2%MLP: 1.9%REIT: 1.7%Other: 0.6%Other: 0.1%
  • Common Stock · 91.5% · $139M
  • ADR · 4.2% · $6M
  • MLP · 1.9% · $3M
  • REIT · 1.7% · $3M
  • Other · 0.6% · $954,000
  • Other · 0.1% · $159,000

Quarter-over-Quarter Changes full breakdown →

vs Q4 2020 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
BACVerizon Communications IncNEW+25.0K25.0K+$1M$1M
ORLYO'Reilly Automotive IncNEW+634634+$322,000$322,000
PMLPIMCO Municipal Income FundNEW+10.7K10.7K+$159,000$159,000
AMTAmerican Tower Systems Corp ClADDED+8842.9K+$240,000$690,000
BMTABritish American TobaccoTRIMMED−2.7K7.6K−$90,000$296,000
Unilever PLCTRIMMED−3.9K17.1K−$314,000$954,000
KMIKinder Morgan IncTRIMMED−2.9K16.8K+$10,000$280,000
EXPDExpeditors InternationalADDED+1.0K8.2K+$201,000$881,000

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

Holdings — Q1 2021

45 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1BRK/ABerkshire Hathaway Inc Cl ACOM19.63%$30M34.2K
2JNJJohnson & Johnsonhistory →COM5.50%$8M51.0K
3PGProcter & Gamble Cohistory →COM5.41%$8M60.9K
4PEPPepsiCo Inchistory →COM5.24%$8M56.5K
5MCDMcDonald's Corphistory →COM5.12%$8M34.8K
6KOCoca-Cola Companyhistory →COM4.97%$8M143.6K
7COSTCostco Whsl Corphistory →COM4.75%$7M20.6K
84I1Philip Morris International Inhistory →COM4.53%$7M77.8K
9ABTAbbott Labshistory →COM3.54%$5M45.1K
10MOAltria Group Inchistory →COM3.53%$5M105.3K
11DGEDDiageo PLC Sponsored ADRhistory →ADR3.12%$5M28.9K
12ABBVAbbVie Inchistory →COM2.89%$4M40.8K
13QSRRestaurant Brands Internationahistory →COM2.46%$4M57.7K
14NSCNorfolk Southern Corphistory →COM2.28%$3M13.0K
15ENBEnbridge Inchistory →COM2.25%$3M94.1K
16AXPAmerican Express Companyhistory →COM2.20%$3M23.7K
17WMTWalmart Inchistory →COM2.17%$3M24.4K
18GPCGenuine Parts Cohistory →COM2.06%$3M27.2K
19VRSKVerisk Analyticshistory →COM1.58%$2M13.7K
20UNPUnion Pacific Corphistory →COM1.47%$2M10.2K
21KHCKraft Heinz Cohistory →COM1.40%$2M53.5K
22EPDEnterprise Prods Partners LPhistory →COM1.38%$2M95.7K
23UPSUnited Parcel Svc Inc Cl Bhistory →COM1.38%$2M12.4K
24ORealty Income Corphistory →COM1.28%$2M30.7K
25FNVFranco-Nevada Corphistory →COM1.26%$2M15.3K
26BACVerizon Communications IncCOM0.95%$1M25.0K
27HSYHershey CompanyCOM0.92%$1M8.8K
28NVSNNovartis International AG ADRADR0.90%$1M16.1K
29Unilever PLCADR0.63%$954,00017.1K
30EXPDExpeditors InternationalCOM0.58%$881,0008.2K
31WEPMagellan Midstream Partners LPCOM0.49%$753,00017.4K
32AMTAmerican Tower Systems Corp ClCOM0.45%$690,0002.9K
33WFCWells Fargo & CoCOM0.44%$673,00017.2K
34JPMJPMorgan Chase & CoCOM0.42%$648,0004.3K
35YUMYum Brands IncCOM0.40%$605,0005.6K
36AAPLApple IncCOM0.37%$562,0004.6K
37SHWSherwin-Williams Co.COM0.32%$483,000654
38GOOGAlphabet Inc Class CCOM0.30%$453,000219
39MDLZMondelez International IncCOM0.27%$408,0007.0K
40WECWEC Energy Group IncCOM0.23%$358,0003.8K
41ORLYO'Reilly Automotive IncCOM0.21%$322,000634
42DUTMoody's CorpCOM0.21%$321,0001.1K
43BMTABritish American TobaccoADR0.19%$296,0007.6K
44KMIKinder Morgan IncCOM0.18%$280,00016.8K
45PMLPIMCO Municipal Income FundCOM0.10%$159,00010.7K

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 ↗.