SEC 13F Intelligence

Managers / Q3 2024 · view latest →

HUTNER CAPITAL MANAGEMENT INC

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

Reported Value
$201M
Q3 2024
Positions
45
Filings on Record
30
2019–present window
Filed
Nov 13, 2024
original filing

Summary

Hutner Capital Management Inc reported $201M in U.S.-listed holdings across 45 positions for Q3 2024.

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

Compared with Q2 2024, the fund opened 1 new position and exited 0.

Portfolio Metrics

Turnover
+0.2%
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: 95.2%REIT: 1.7%ADR: 1.5%MLP: 1.3%Other: 0.3%
  • Common Stock · 95.2% · $191M
  • REIT · 1.7% · $3M
  • ADR · 1.5% · $3M
  • MLP · 1.3% · $3M
  • Other · 0.3% · $586,928

Quarter-over-Quarter Changes full breakdown →

vs Q2 2024 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
Chubb LimitedNEW+2.0K2.0K+$586,928$586,928
NVSNNovartis International AG ADRADDED+6472.6K+$90,877$295,570
DGEDDiageo PLC Sponsored ADRTRIMMED−3.1K19.2K−$117,185$3M
GOOGAlphabet Inc Class CADDED+1.5K27.9K−$180,672$5M
KHCKraft Heinz CoHELD−59215.9K+$26,741$556,571
BACVerizon Communications IncHELD−2006.3K+$14,765$281,426
HSYHershey CompanyHELD−2588.3K+$18,684$2M
UNHUnitedHealth Group IncHELD−12400+$24,057$233,872

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

Holdings — Q3 2024

44 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1BRK/ABerkshire Hathaway Inc Cl ACOM25.16%$51M31.8K
2COSTCostco Whsl Corphistory →COM7.19%$14M16.3K
3KOCoca-Cola Companyhistory →COM4.58%$9M128.0K
4MCDMcDonald's Corphistory →COM4.58%$9M30.2K
54I1Philip Morris International Inhistory →COM4.22%$8M69.8K
6PGProcter & Gamble Cohistory →COM4.14%$8M48.1K
7PEPPepsiCo Inchistory →COM3.97%$8M46.9K
8ABBVAbbVie Inchistory →COM3.78%$8M38.5K
9JNJJohnson & Johnsonhistory →COM3.52%$7M43.6K
10AXPAmerican Express Companyhistory →COM3.06%$6M22.7K
11WMTWalmart Inchistory →COM2.64%$5M65.6K
12MOAltria Group Inchistory →COM2.52%$5M99.3K
13ABTAbbott Labshistory →COM2.38%$5M42.0K
14GOOGAlphabet Inc Class Chistory →COM2.32%$5M27.9K
15ENBEnbridge Inchistory →COM2.22%$4M110.0K
16FNVFranco-Nevada Corphistory →COM2.16%$4M34.9K
17AAPLApple Inchistory →COM2.06%$4M17.8K
18VRSKVerisk Analyticshistory →COM1.79%$4M13.4K
19UNPUnion Pacific Corphistory →COM1.62%$3M13.2K
20GPCGenuine Parts Cohistory →COM1.61%$3M23.2K
21ADIAnalog Devices Inchistory →COM1.46%$3M12.7K
22DGEDDiageo PLC Sponsored ADRhistory →ADR1.34%$3M19.2K
23EPDEnterprise Prods Partners LPhistory →COM1.31%$3M90.1K
24ORealty Income Corphistory →COM1.14%$2M36.0K
25ORLYO'Reilly Automotive Inchistory →COM1.06%$2M1.8K
26OKEOneok, IncCOM0.93%$2M20.6K
27NSCNorfolk Southern CorpCOM0.93%$2M7.5K
28QSRRestaurant Brands InternationaCOM0.86%$2M24.1K
29HSYHershey CompanyCOM0.79%$2M8.3K
30AMTAmerican Tower Systems Corp ClCOM0.60%$1M5.2K
31EXPDExpeditors InternationalCOM0.51%$1M7.8K
32SHWSherwin-Williams Co.COM0.46%$924,3592.4K
33WFCWells Fargo & CoCOM0.43%$853,91315.1K
34UPSUnited Parcel Svc Inc Cl BCOM0.36%$718,6945.3K
35CHVChevron CorpCOM0.36%$716,0274.9K
36YUMYum Brands IncCOM0.35%$703,1165.0K
37Chubb LimitedCOM0.29%$586,9282.0K
38KHCKraft Heinz CoCOM0.28%$556,57115.9K
39WECWEC Energy Group IncCOM0.26%$521,9695.4K
40DUTMoody's CorpCOM0.23%$459,878969
41NVSNNovartis International AG ADRADR0.15%$295,5702.6K
42BACVerizon Communications IncCOM0.14%$281,4266.3K
43MDLZMondelez International IncCOM0.14%$271,8423.7K
44UNHUnitedHealth Group IncCOM0.12%$233,872400

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 ↗.