SEC 13F Intelligence

Managers / Q2 2022 · view latest →

HUTNER CAPITAL MANAGEMENT INC

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

Reported Value
$152M
Q2 2022
Positions
43
Filings on Record
30
2019–present window
Filed
Aug 11, 2022
original filing

Summary

Hutner Capital Management Inc reported $152M in U.S.-listed holdings across 43 positions for Q2 2022.

The portfolio is heavily concentrated: BRK/A alone accounts for 20.2% of reported value.

Compared with Q1 2022, the fund opened 0 new positions and exited 2.

Portfolio Metrics

Turnover
+0.5%
vs prior filed quarter
Top-10 Concentration
+64.4%
share of reported value
Largest Position
+20.2%
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, 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: 92.7%ADR: 3.3%REIT: 2.1%MLP: 2.0%
  • Common Stock · 92.7% · $141M
  • ADR · 3.3% · $5M
  • REIT · 2.1% · $3M
  • MLP · 2.0% · $3M

Quarter-over-Quarter Changes full breakdown →

vs Q1 2022 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
JPMJPMorgan Chase & CoSOLD OUT−2.9K0−$395,000$0
KMIKinder Morgan IncSOLD OUT−11.3K0−$215,000$0
VZVerizon Communications IncTRIMMED−15.4K22.0K−$786,000$1M
QSRRestaurant Brands InternationaTRIMMED−11.5K21.3K−$845,000$1M
MDLZMondelez International IncTRIMMED−1.9K4.2K−$122,000$261,000
NVSNovartis International AG ADRTRIMMED−1.5K4.6K−$148,000$393,000
YUMYum Brands IncTRIMMED−9704.9K−$139,000$561,000
COSTCostco Whsl CorpTRIMMED−1.4K18.1K−$3M$9M

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

Holdings — Q2 2022

42 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1BRK/ABerkshire Hathaway Inc Cl ACOM20.24%$31M30.7K
2COSTCostco Whsl Corphistory →COM5.68%$9M18.1K
3KOCoca-Cola Companyhistory →COM5.66%$9M137.0K
4PEPPepsiCo Inchistory →COM5.58%$9M51.0K
5JNJJohnson & Johnsonhistory →COM5.27%$8M45.3K
6PGProcter & Gamble Cohistory →COM5.12%$8M54.3K
7MCDMcDonald's Corphistory →COM5.08%$8M31.4K
8PMPhilip Morris International Inhistory →COM4.79%$7M73.9K
9ABBVAbbVie Inchistory →COM3.99%$6M39.7K
10DEODiageo PLC Sponsored ADRhistory →ADR3.02%$5M26.4K
11ABTAbbott Labshistory →COM2.99%$5M41.9K
12ENBEnbridge Inchistory →COM2.87%$4M103.6K
13MOAltria Group Inchistory →COM2.82%$4M102.9K
14FNVFranco-Nevada Corphistory →COM2.32%$4M26.9K
15GPCGenuine Parts Cohistory →COM2.20%$3M25.2K
16AXPAmerican Express Companyhistory →COM2.13%$3M23.4K
17WMTWalmart Inchistory →COM1.94%$3M24.3K
18NSCNorfolk Southern Corphistory →COM1.73%$3M11.6K
19VRSKVerisk Analyticshistory →COM1.53%$2M13.5K
20EPDEnterprise Prods Partners LPhistory →COM1.45%$2M90.5K
21ORealty Income Corphistory →COM1.31%$2M29.3K
22UNPUnion Pacific Corphistory →COM1.30%$2M9.3K
23UPSUnited Parcel Svc Inc Cl Bhistory →COM1.25%$2M10.4K
24HSYHershey Companyhistory →COM1.18%$2M8.4K
25AMTAmerican Tower Systems Corp ClCOM0.77%$1M4.6K
26KHCKraft Heinz CoCOM0.77%$1M30.6K
27AAPLApple IncCOM0.75%$1M8.4K
28VZVerizon Communications IncCOM0.73%$1M22.0K
29QSRRestaurant Brands InternationaCOM0.70%$1M21.3K
30ADIAnalog Devices IncCOM0.67%$1M7.0K
31EXPDExpeditors InternationalCOM0.56%$857,0008.8K
32ORLYO'Reilly Automotive IncCOM0.55%$841,0001.3K
33Magellan Midstream Partners LPCOM0.51%$776,00016.2K
34GOOGAlphabet Inc Class CCOM0.47%$713,000326
35WFCWells Fargo & CoCOM0.43%$656,00016.7K
36YUMYum Brands IncCOM0.37%$561,0004.9K
37SHWSherwin-Williams Co.COM0.28%$433,0001.9K
38NVSNovartis International AG ADRADR0.26%$393,0004.6K
39WECWEC Energy Group IncCOM0.25%$383,0003.8K
40MCOMoody's CorpCOM0.18%$276,0001.0K
41MDLZMondelez International IncCOM0.17%$261,0004.2K
42UNHUnitedHealth Group IncCOM0.13%$205,000400

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 ↗.