SEC 13F Intelligence

Managers / Q2 2021 · view latest →

HUTNER CAPITAL MANAGEMENT INC

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

Reported Value
$156M
Q2 2021
Positions
46
Filings on Record
30
2019–present window
Filed
Aug 13, 2021
original filing

Summary

Hutner Capital Management Inc reported $156M in U.S.-listed holdings across 46 positions for Q2 2021.

The portfolio is heavily concentrated: BRK/A alone accounts for 20.4% of reported value.

Compared with Q1 2021, the fund opened 1 new position and exited 1.

Portfolio Metrics

Turnover
+2.7%
vs prior filed quarter
Top-10 Concentration
+61.4%
share of reported value
Largest Position
+20.4%
Berkshire Hathaway
New / Exited
1 / 1
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: 91.6%ADR: 4.2%MLP: 1.9%REIT: 1.8%Other: 0.6%
  • Common Stock · 91.6% · $143M
  • ADR · 4.2% · $7M
  • MLP · 1.9% · $3M
  • REIT · 1.8% · $3M
  • Other · 0.6% · $883,000

Quarter-over-Quarter Changes full breakdown →

vs Q1 2021 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
ADIAnalog Devices IncNEW+1.4K1.4K+$245,000$245,000
SHWSherwin-Williams Co.ADDED+1.3K1.9K+$43,000$526,000
PMLPIMCO Municipal Income FundSOLD OUT−10.7K0−$159,000$0
AAPLApple IncADDED+2.6K7.2K+$419,000$981,000
GOOGAlphabet Inc Class CADDED+114333+$382,000$835,000
ORLYO'Reilly Automotive IncADDED+245879+$176,000$498,000
VZVerizon Communications IncADDED+8.2K33.2K+$408,000$2M
BTIBritish American TobaccoTRIMMED−2.3K5.3K−$88,000$208,000

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

Holdings — Q2 2021

45 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1BRK/ABerkshire Hathaway Inc Cl ACOM20.39%$32M31.8K
2COSTCostco Whsl Corphistory →COM5.21%$8M20.6K
3PEPPepsiCo Inchistory →COM5.09%$8M53.6K
4JNJJohnson & Johnsonhistory →COM5.07%$8M48.1K
5PGProcter & Gamble Cohistory →COM4.95%$8M57.4K
6KOCoca-Cola Companyhistory →COM4.72%$7M136.4K
7MCDMcDonald's Corphistory →COM4.72%$7M31.9K
8PMPhilip Morris International Inhistory →COM4.71%$7M74.2K
9DEODiageo PLC Sponsored ADRhistory →ADR3.42%$5M27.9K
10ABTAbbott Labshistory →COM3.13%$5M42.1K
11MOAltria Group Inchistory →COM3.06%$5M100.3K
12ABBVAbbVie Inchistory →COM2.89%$5M40.1K
13AXPAmerican Express Companyhistory →COM2.50%$4M23.6K
14ENBEnbridge Inchistory →COM2.34%$4M91.1K
15QSRRestaurant Brands Internationahistory →COM2.27%$4M55.1K
16NSCNorfolk Southern Corphistory →COM2.18%$3M12.9K
17WMTWalmart Inchistory →COM2.15%$3M23.8K
18GPCGenuine Parts Cohistory →COM2.07%$3M25.5K
19VRSKVerisk Analyticshistory →COM1.53%$2M13.7K
20UPSUnited Parcel Svc Inc Cl Bhistory →COM1.51%$2M11.4K
21FNVFranco-Nevada Corphistory →COM1.47%$2M15.9K
22EPDEnterprise Prods Partners LPhistory →COM1.35%$2M87.2K
23UNPUnion Pacific Corphistory →COM1.34%$2M9.6K
24KHCKraft Heinz Cohistory →COM1.31%$2M50.1K
25VZVerizon Communications Inchistory →COM1.19%$2M33.2K
26ORealty Income Corphistory →COM1.19%$2M27.9K
27HSYHershey CompanyCOM0.93%$1M8.4K
28NVSNovartis International AG ADRADR0.66%$1M11.3K
29EXPDExpeditors InternationalCOM0.65%$1M8.1K
30AAPLApple IncCOM0.63%$981,0007.2K
31AMTAmerican Tower Systems Corp ClCOM0.61%$956,0003.5K
32Unilever PLCADR0.57%$883,00015.1K
33GOOGAlphabet Inc Class CCOM0.53%$835,000333
34Magellan Midstream Partners LPCOM0.51%$798,00016.3K
35WFCWells Fargo & CoCOM0.50%$775,00017.1K
36YUMYum Brands IncCOM0.40%$624,0005.4K
37JPMJPMorgan Chase & CoCOM0.39%$616,0004.0K
38SHWSherwin-Williams Co.COM0.34%$526,0001.9K
39ORLYO'Reilly Automotive IncCOM0.32%$498,000879
40MDLZMondelez International IncCOM0.28%$436,0007.0K
41MCOMoody's CorpCOM0.24%$382,0001.1K
42WECWEC Energy Group IncCOM0.22%$340,0003.8K
43KMIKinder Morgan IncCOM0.16%$249,00013.7K
44ADIAnalog Devices IncCOM0.16%$245,0001.4K
45BTIBritish American TobaccoADR0.13%$208,0005.3K

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 ↗.