SEC 13F Intelligence

Managers / Q1 2024 · view latest →

HUTNER CAPITAL MANAGEMENT INC

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

Reported Value
$184M
Q1 2024
Positions
43
Filings on Record
30
2019–present window
Filed
May 10, 2024
original filing

Summary

Hutner Capital Management Inc reported $184M in U.S.-listed holdings across 43 positions for Q1 2024.

Its largest position, BRK/A, represents 17.9% of the portfolio.

Compared with Q4 2023, the fund opened 0 new positions and exited 1.

Portfolio Metrics

Turnover
+0.8%
vs prior filed quarter
Top-10 Concentration
+61.1%
share of reported value
Largest Position
+17.9%
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: 94.9%ADR: 2.0%REIT: 1.7%MLP: 1.4%
  • Common Stock · 94.9% · $175M
  • ADR · 2.0% · $4M
  • REIT · 1.7% · $3M
  • MLP · 1.4% · $3M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
WMTWalmart IncADDED+44.8K67.3K+$498,536$4M
NVSNNovartis International AG ADRSOLD OUT−2.0K0−$205,933$0
GOOGAlphabet Inc Class CADDED+6.9K24.1K+$1M$4M
OKEOneok, IncADDED+3.3K19.3K+$420,959$2M
QSRRestaurant Brands InternationaADDED+1.9K25.1K+$181,764$2M
AAPLApple IncADDED+1.1K18.0K−$159,279$3M
BACVerizon Communications IncHELD−2286.5K+$18,910$271,008
FNVFranco-Nevada CorpHELD+66034.6K+$361,696$4M

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

Holdings — Q1 2024

42 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1BRK/ABerkshire Hathaway Inc Cl ACOM25.45%$47M33.2K
2COSTCostco Whsl Corphistory →COM6.49%$12M16.3K
3MCDMcDonald's Corphistory →COM4.64%$9M30.3K
4PEPPepsiCo Inchistory →COM4.51%$8M47.6K
5PGProcter & Gamble Cohistory →COM4.43%$8M50.4K
6KOCoca-Cola Companyhistory →COM4.40%$8M132.7K
7ABBVAbbVie Inchistory →COM3.86%$7M39.1K
8JNJJohnson & Johnsonhistory →COM3.80%$7M44.3K
94I1Philip Morris International Inhistory →COM3.56%$7M71.6K
10AXPAmerican Express Companyhistory →COM2.81%$5M22.8K
11ABTAbbott Labshistory →COM2.66%$5M43.1K
12MOAltria Group Inchistory →COM2.41%$4M102.1K
13FNVFranco-Nevada Corphistory →COM2.23%$4M34.6K
14WMTWalmart Inchistory →COM2.20%$4M67.3K
15ENBEnbridge Inchistory →COM2.19%$4M111.8K
16GPCGenuine Parts Cohistory →COM2.00%$4M23.8K
17GOOGAlphabet Inc Class Chistory →COM1.99%$4M24.1K
18DGEDDiageo PLC Sponsored ADRhistory →ADR1.98%$4M24.5K
19UNPUnion Pacific Corphistory →COM1.80%$3M13.5K
20VRSKVerisk Analyticshistory →COM1.71%$3M13.4K
21AAPLApple Inchistory →COM1.67%$3M18.0K
22EPDEnterprise Prods Partners LPhistory →COM1.44%$3M90.8K
23ADIAnalog Devices Inchistory →COM1.39%$3M12.9K
24ORealty Income Corphistory →COM1.08%$2M36.9K
25QSRRestaurant Brands Internationahistory →COM1.08%$2M25.1K
26ORLYO'Reilly Automotive Inchistory →COM1.08%$2M1.8K
27NSCNorfolk Southern Corphistory →COM1.05%$2M7.6K
28HSYHershey CompanyCOM0.89%$2M8.5K
29OKEOneok, IncCOM0.84%$2M19.3K
30AMTAmerican Tower Systems Corp ClCOM0.57%$1M5.3K
31EXPDExpeditors InternationalCOM0.52%$961,8237.9K
32WFCWells Fargo & CoCOM0.48%$876,76215.1K
33UPSUnited Parcel Svc Inc Cl BCOM0.44%$818,4075.5K
34SHWSherwin-Williams Co.COM0.39%$716,3982.1K
35CHVChevron CorpCOM0.37%$690,1134.4K
36YUMYum Brands IncCOM0.37%$687,2655.0K
37KHCKraft Heinz CoCOM0.35%$649,14117.6K
38WECWEC Energy Group IncCOM0.24%$445,6655.4K
39DUTMoody's CorpCOM0.21%$380,846969
40BACVerizon Communications IncCOM0.15%$271,0086.5K
41MDLZMondelez International IncCOM0.15%$270,2003.9K
42UNHUnitedHealth Group IncCOM0.12%$213,710432

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 ↗.