Managers / Q1 2022 · view latest →
Citadel Investment Advisory, Inc.
CIK 0001811907 · PO BOX 900, CHESTERLAND, OH, 44026 · 440-942-8877
Reported Value
$172M
Q1 2022
Positions
80
Filings on Record
22
2021–present window
Filed
May 12, 2022
original filing
Summary
Citadel Investment Advisory, Inc. reported $172M in U.S.-listed holdings across 80 positions for Q1 2022.
Its largest position, BRK/B, represents 18.2% of the portfolio.
Compared with Q4 2021, the fund opened 5 new positions and exited 0.
Portfolio Metrics
Turnover
+6.4%
vs prior filed quarter
Top-10 Concentration
+56.2%
share of reported value
Largest Position
+18.2%
Beckshire 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
Portfolio Composition
By security type
- Common Stock · 92.9% · $160M
- Other · 5.9% · $10M
- ADR · 0.9% · $2M
- PUBLIC · 0.2% · $430,000
Quarter-over-Quarter Changes full breakdown →
vs Q4 2021 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| John Marshall Bancorp | NEW | +45.8K | 45.8K | +$1M | $1M |
| AMZNAmazon | NEW | +262 | 262 | +$854,000 | $854,000 |
| Colfax | NEW | +16.3K | 16.3K | +$649,000 | $649,000 |
| Vistaprint NV Cimpress | NEW | +9.4K | 9.4K | +$599,000 | $599,000 |
| BABoeing Company | NEW | +1.6K | 1.6K | +$306,000 | $306,000 |
| MKLMarkel Corp | TRIMMED | −14.3K | 1.6K | +$5M | $24M |
| WRBBerkley W R Corp | ADDED | +2.1K | 6.6K | +$67,000 | $441,000 |
| KDPKeurig Dr. Pepper | ADDED | +400 | 6.5K | +$21,000 | $246,000 |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q1 2022
78 positions (from 80 filing rows — )
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | BRK/BBeckshire Hathawayhistory → | BRKB | 18.21% | $31M | 113.0K |
| 2 | MKLMarkel Corphistory → | MKL | 14.08% | $24M | 1.6K |
| 3 | GOOGLAlphabet Inc. Class A | GOOGL | 7.23% | $12M | 4.5K |
| 4 | IPMLFImperial Metals Corphistory → | IPMLF | 3.35% | $6M | 1.92M |
| 5 | MSFTMicrosoft Corphistory → | MSFT | 2.89% | $5M | 16.1K |
| 6 | JNJJohnson & Johnsonhistory → | JNJ | 2.63% | $5M | 25.6K |
| 7 | PMPhilip Morris Intlhistory → | PM | 2.27% | $4M | 41.6K |
| 8 | DISDisney Companyhistory → | DIS | 2.14% | $4M | 26.9K |
| 9 | RTXRaytheon Technologies Corphistory → | RTX | 1.72% | $3M | 29.8K |
| 10 | KOCoca Cola Cohistory → | KO | 1.69% | $3M | 46.8K |
| 11 | Medtronic | MDT | 1.68% | $3M | 26.1K |
| 12 | ABBVAbbvie Inchistory → | ABBV | 1.63% | $3M | 17.3K |
| 13 | PEPPepsiCohistory → | PEP | 1.63% | $3M | 16.8K |
| 14 | MCDMcDonald'shistory → | MCD | 1.59% | $3M | 11.1K |
| 15 | MTDMettler Toledo Intlhistory → | MTD | 1.56% | $3M | 2.0K |
| 16 | MCOMoodys Corphistory → | MCO | 1.55% | $3M | 7.9K |
| 17 | IBMIBM Corphistory → | IBM | 1.54% | $3M | 20.3K |
| 18 | IDXXIdexx Labs Inchistory → | IDXX | 1.26% | $2M | 4.0K |
| 19 | GDGeneral Dynamics Corphistory → | GD | 1.25% | $2M | 8.9K |
| 20 | ORCLOracle Corphistory → | ORCL | 1.13% | $2M | 23.6K |
| 21 | DLTRDollar Tree Inchistory → | DLTR | 1.11% | $2M | 11.9K |
| 22 | FRBKQRepublic First Bancorp Inchistory → | FRBK | 1.03% | $2M | 342.6K |
| 23 | BKNGBooking Holdings Inc | BKNG | 0.99% | $2M | 726 |
| 24 | CSXCSX Corp | CSX | 0.99% | $2M | 45.4K |
| 25 | MHKMohawk Industries | MHK | 0.96% | $2M | 13.3K |
| 26 | GSGoldman Sachs Group Inc. | GS | 0.92% | $2M | 4.8K |
| 27 | BUDAB Inbev | BUD | 0.92% | $2M | 26.4K |
| 28 | Discovery Holdings A | DISCA | 0.85% | $1M | 58.7K |
| 29 | WFCWells Fargo | WFC | 0.84% | $1M | 29.8K |
| 30 | BACBank of America | BAC | 0.81% | $1M | 33.9K |
| 31 | DHRDanaher Corp | DHR | 0.76% | $1M | 4.4K |
| 32 | Howard Hughs | HHC | 0.76% | $1M | 12.6K |
| 33 | United Parcel Service Inc | UPS | 0.76% | $1M | 6.1K |
| 34 | AXPAmerican Express | AXP | 0.75% | $1M | 6.9K |
| 35 | JPMJPMorgan Chase & Co | JPM | 0.73% | $1M | 9.2K |
| 36 | SYYSysco Corp | SYY | 0.70% | $1M | 14.8K |
| 37 | Walgreens | WBA | 0.70% | $1M | 26.8K |
| 38 | DISHDish Network | DISH | 0.69% | $1M | 37.6K |
| 39 | ABTAbbott Laboratories | ABT | 0.69% | $1M | 10.1K |
| 40 | CNICanadian National Railway | CNI | 0.68% | $1M | 8.7K |
| 41 | CABOCable One Inc. | CABO | 0.67% | $1M | 792 |
| 42 | LOWLowes | LOW | 0.62% | $1M | 5.2K |
| 43 | John Marshall Bancorp | JMSB | 0.58% | $1M | 45.8K |
| 44 | CMCSAComcast | CMCSA | 0.55% | $942,000 | 20.1K |
| 45 | AMZNAmazon | AMZN | 0.50% | $854,000 | 262 |
| 46 | WYNNWynn Resorts | WYNN | 0.48% | $832,000 | 10.4K |
| 47 | CACCCredit Acceptance Corp | CACC | 0.46% | $794,000 | 1.4K |
| 48 | EGEverest Re Group Inc | RE | 0.43% | $746,000 | 2.5K |
| 49 | INTCIntel | INTC | 0.42% | $718,000 | 14.5K |
| 50 | PGProctor & Gamble Co | PG | 0.41% | $707,000 | 4.6K |
| 51 | TATT | T | 0.38% | $662,000 | 28.0K |
| 52 | LDOSLeidos Holdings Inc | LDOS | 0.38% | $654,000 | 6.1K |
| 53 | Colfax | CFX | 0.38% | $649,000 | 16.3K |
| 54 | LBRDKLiberty Broadband cl C | LBRDK | 0.36% | $621,000 | 4.6K |
| 55 | Vistaprint NV Cimpress | CMPR | 0.35% | $599,000 | 9.4K |
| 56 | Liberty Global cl C | LBTYK · LBTYA | 0.34% | $592,000 | 23.0K |
| 57 | ViacomCBS cl B | VIAC | 0.34% | $588,000 | 15.5K |
| 58 | AAPAdvande Auto Parts | AAP | 0.31% | $540,000 | 2.6K |
| 59 | ETNEaton Corp | ETN | 0.31% | $525,000 | 3.5K |
| 60 | JEFJefferies Financial | JEF | 0.30% | $512,000 | 15.6K |
| 61 | KHCKraft Heintz Co | KHC | 0.28% | $484,000 | 12.3K |
| 62 | Cedar Fair | FUN | 0.28% | $475,000 | 8.7K |
| 63 | FISVFiserv Inc | FISV | 0.27% | $465,000 | 4.6K |
| 64 | BF/BBrown Forman | BFB | 0.26% | $456,000 | 6.8K |
| 65 | WRBBerkley W R Corp | WRB | 0.26% | $441,000 | 6.6K |
| 66 | Liberty Media Sirius C | LSXMK | 0.25% | $431,000 | 9.4K |
| 67 | Colgate Palmolive | CL | 0.25% | $430,000 | 5.7K |
| 68 | MAMastercard | MA | 0.25% | $422,000 | 1.2K |
| 69 | MDLZMondelez Intl Inc | MDLZ | 0.24% | $412,000 | 6.6K |
| 70 | CICigna Corp | CI | 0.18% | $308,000 | 1.3K |
| 71 | BABoeing Company | BA | 0.18% | $306,000 | 1.6K |
| 72 | ACNTSynalloy Corp | SYNL | 0.17% | $299,000 | 18.7K |
| 73 | AAPLApple Inc | AAPL | 0.16% | $280,000 | 1.6K |
| 74 | Discovery Holdings C | DISCK | 0.16% | $275,000 | 11.0K |
| 75 | SEICSEI Investments | SEIC | 0.15% | $266,000 | 4.4K |
| 76 | FCNFTI Consulting, Inc. | FCN | 0.15% | $263,000 | 1.7K |
| 77 | KDPKeurig Dr. Pepper | KDP | 0.14% | $246,000 | 6.5K |
| 78 | Liberty Media Sirius A | LSXMA | 0.12% | $202,000 | 4.4K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $210M | 78 | Apr 16, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $231M | 79 | Jan 21, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $218M | 82 | Oct 21, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $206M | 83 | Aug 5, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $204M | 82 | Apr 17, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $193M | 82 | Jan 24, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $190M | 81 | Oct 16, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $176M | 82 | Jul 15, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $178M | 82 | Apr 17, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $163M | 82 | Jan 23, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $153M | 81 | Oct 31, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $155M | 80 | Jul 11, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $147M | 79 | May 1, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $146M | 79 | Jan 18, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $131M | 78 | Oct 20, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $148M | 80 | Aug 2, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $172M | 80 | May 12, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $171M | 75 | Jan 27, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $161M | 74 | Nov 2, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $162M | 74 | Aug 10, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q1 2021 | $153M | 74 | Apr 20, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q4 2020 | $140M | 72 | Jan 29, 2021 | 13F-HR | changes · 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 ↗.