SEC 13F Intelligence

Managers / Q4 2024 · view latest →

Citadel Investment Advisory, Inc.

CIK 0001811907 · PO BOX 900, CHESTERLAND, OH, 44026 · 440-942-8877

Reported Value
$193M
Q4 2024
Positions
82
Filings on Record
22
2021–present window
Filed
Jan 24, 2025
original filing

Summary

Citadel Investment Advisory, Inc. reported $193M in U.S.-listed holdings across 82 positions for Q4 2024.

The portfolio is heavily concentrated: BRK/B alone accounts for 25.7% of reported value.

Compared with Q3 2024, the fund opened 2 new positions and exited 1.

Portfolio Metrics

Turnover
+3.9%
vs prior filed quarter
Top-10 Concentration
+63.4%
share of reported value
Largest Position
+25.7%
Beckshire Hathaway
New / Exited
2 / 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 ’20: $140MQ4 ’20Q1 ’21: $153MQ2 ’21: $162MQ3 ’21: $161MQ3 ’21Q4 ’21: $171MQ1 ’22: $172MQ2 ’22: $148MQ2 ’22Q3 ’22: $131MQ4 ’22: $146MQ1 ’23: $147MQ1 ’23Q2 ’23: $155MQ3 ’23: $153MQ4 ’23: $163MQ4 ’23Q1 ’24: $178MQ2 ’24: $176MQ3 ’24: $190MQ3 ’24Q4 ’24: $193MQ1 ’25: $204MQ2 ’25: $206MQ2 ’25Q3 ’25: $218MQ4 ’25: $231MQ1 ’26: $210MQ1 ’26filingsflow.com

Portfolio Composition

By security type
Common Stock: 95.5%Other: 3.7%ADR: 0.6%PUBLIC: 0.2%
  • Common Stock · 95.5% · $184M
  • Other · 3.7% · $7M
  • ADR · 0.6% · $1M
  • PUBLIC · 0.2% · $400,000

Quarter-over-Quarter Changes full breakdown →

vs Q3 2024 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
Pinnacle Financial PartnersNEW+1.9K1.9K+$218,000$218,000
White MountainsNEW+100100+$195,000$195,000
Cedar FairADDED+32.0K49.9K+$2M$2M
CACCCredit Acceptance CorpADDED+1.5K2.8K+$733,000$1M
WalgreensSOLD OUT−17.2K0−$154,000$0
BUDAB InbevTRIMMED−20.2K2.3K−$373,000$1M
ECHOEchostar CorpTRIMMED−1.7K5.0K−$52,000$114,000
ABBVAbbvie IncADDED+2.1K18.4K+$58,000$3M

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

Holdings — Q4 2024

80 positions (from 82 filing rows — )
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1BRK/BBeckshire Hathawayhistory →BRKB25.68%$50M109.4K
2MKLMarkel Corphistory →MKL14.26%$28M15.9K
3GOOGLAlphabet Inc. Class AGOOGL7.85%$15M79.8K
4MSFTMicrosoft Corphistory →MSFT3.46%$7M15.8K
5PMPhilip Morris Intlhistory →PM2.58%$5M41.4K
6IBMIBM Corphistory →IBM2.02%$4M17.7K
7ORCLOracle Corphistory →ORCL1.97%$4M22.8K
8MCOMoodys Corphistory →MCO1.96%$4M8.0K
9JNJJohnson & Johnsonhistory →JNJ1.84%$4M24.5K
10RTXRaytheon Technologies Corphistory →RTX1.80%$3M30.1K
11ABBVAbbvie Inchistory →ABBV1.69%$3M18.4K
12MCDMcDonald'shistory →MCD1.68%$3M11.2K
13BKNGBooking Holdings Inchistory →BKNG1.54%$3M597
14DISDisney Companyhistory →DIS1.46%$3M25.2K
15KOCoca Cola Cohistory →KO1.39%$3M43.1K
16PEPPepsiCohistory →PEP1.31%$3M16.7K
17GSGoldman Sachs Group Inc.history →GS1.31%$3M4.4K
18Cedar FairFUN1.25%$2M49.9K
19GDGeneral Dynamics Corphistory →GD1.22%$2M8.9K
20MTDMettler Toledo Intlhistory →MTD1.19%$2M1.9K
21IPMLFImperial Metals Corphistory →IPMLF1.14%$2M1.76M
22JPMJPMorgan Chase & Cohistory →JPM1.10%$2M8.9K
23AXPAmerican Expresshistory →AXP1.06%$2M6.9K
24MedtronicMDT0.98%$2M23.6K
25MHKMohawk IndustriesMHK0.79%$2M12.7K
26IDXXIdexx Labs IncIDXX0.78%$2M3.7K
27WFCWells FargoWFC0.77%$1M21.0K
28CSXCSX CorpCSX0.75%$1M44.7K
29CACCCredit Acceptance CorpCACC0.68%$1M2.8K
30LOWLowesLOW0.64%$1M5.0K
31JEFJefferies FinancialJEF0.60%$1M14.8K
32ETNEaton CorpETN0.59%$1M3.5K
33BUDAB InbevBUD0.58%$1M2.3K
34AMZNAmazonAMZN0.58%$1M5.1K
35AMGAffiliated ManagersAMG0.56%$1M5.9K
36ABTAbbott LaboratoriesABT0.56%$1M9.6K
37DHRDanaher CorpDHR0.52%$1M4.4K
38BACBank of AmericaBAC0.50%$962,00021.9K
39Howard HughsHHC0.48%$922,00012.0K
40SYYSysco CorpSYY0.47%$908,00011.9K
41CNICanadian National RailwayCNI0.42%$808,0008.0K
42EGEverest Re Group IncRE0.42%$807,0002.2K
43John Marshall BancorpJMSB0.41%$791,00039.4K
44FISVFiserv IncFISV0.39%$748,0003.6K
45PGProctor & Gamble CoPG0.36%$698,0004.2K
46CMCSAComcastCMCSA0.35%$671,00017.9K
47LDOSLeidos Holdings IncLDOS0.34%$651,0004.5K
48BABoeing CompanyBA0.33%$635,0003.6K
49Vistaprint NV CimpressCMPR0.32%$622,0008.7K
50MAMastercardMA0.32%$608,0001.2K
51United Parcel Service IncUPS0.31%$600,0004.8K
52WBDWarner Brothers Discovery,incWBD0.30%$585,00055.4K
53WYNNWynn ResortsWYNN0.28%$542,0006.3K
54WRBBerkley W R CorpWRB0.28%$532,0009.1K
55ESABESAB CorpESAB0.25%$483,0004.0K
56METAMETAMETA0.25%$474,000810
57LECOLincoln Electric HoldingsLECO0.23%$440,0002.3K
58AAPLApple IncAAPL0.21%$401,0001.6K
59Colgate PalmoliveCL0.21%$400,0004.4K
60TATTT0.20%$377,00016.5K
61SEICSEI InvestmentsSEIC0.17%$325,0003.9K
62FCNFTI Consulting, Inc.FCN0.17%$319,0001.7K
63CICigna CorpCI0.16%$312,0001.1K
64MDLZMondelez Intl IncMDLZ0.15%$291,0004.9K
65LBRDKLiberty Broadband cl CLBRDK0.14%$274,0003.7K
66WTWWillis Tower WatsonWTW0.13%$259,000826
67BF/BBrown FormanBFB0.13%$258,0006.8K
68CABOCable One Inc.CABO0.13%$244,000675
69KHCKraft Heintz CoKHC0.12%$234,0007.6K
70INTCIntelINTC0.12%$230,00011.5K
71Pinnacle Financial PartnersPNFP0.11%$218,0001.9K
72Liberty Global cl CLBTYK · LBTYA0.11%$218,00016.8K
73Sirius XM HoldingsSIRI0.11%$212,0009.3K
74White MountainsWTM0.10%$195,000100
75KDPKeurig Dr. PepperKDP0.10%$194,0006.0K
76Ascent Industries CorpACNT0.08%$164,00014.7K
77ENOVEnovis CorpENOV0.07%$134,0003.1K
78ECHOEchostar CorpSATS0.06%$114,0005.0K
79AAPAdvance Auto PartsAAP0.06%$109,0002.3K
80PARAAParamount GlobalPARA0.04%$85,0008.1K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$210M78Apr 16, 202613F-HRchanges · EDGAR ↗
Q4 2025$231M79Jan 21, 202613F-HRchanges · EDGAR ↗
Q3 2025$218M82Oct 21, 202513F-HRchanges · EDGAR ↗
Q2 2025$206M83Aug 5, 202513F-HRchanges · EDGAR ↗
Q1 2025$204M82Apr 17, 202513F-HRchanges · EDGAR ↗
Q4 2024$193M82Jan 24, 202513F-HRchanges · EDGAR ↗
Q3 2024$190M81Oct 16, 202413F-HRchanges · EDGAR ↗
Q2 2024$176M82Jul 15, 202413F-HRchanges · EDGAR ↗
Q1 2024$178M82Apr 17, 202413F-HRchanges · EDGAR ↗
Q4 2023$163M82Jan 23, 202413F-HRchanges · EDGAR ↗
Q3 2023$153M81Oct 31, 202313F-HRchanges · EDGAR ↗
Q2 2023$155M80Jul 11, 202313F-HRchanges · EDGAR ↗
Q1 2023$147M79May 1, 202313F-HRchanges · EDGAR ↗
Q4 2022$146M79Jan 18, 202313F-HRchanges · EDGAR ↗
Q3 2022$131M78Oct 20, 202213F-HRchanges · EDGAR ↗
Q2 2022$148M80Aug 2, 202213F-HRchanges · EDGAR ↗
Q1 2022$172M80May 12, 202213F-HRchanges · EDGAR ↗
Q4 2021$171M75Jan 27, 202213F-HRchanges · EDGAR ↗
Q3 2021$161M74Nov 2, 202113F-HRchanges · EDGAR ↗
Q2 2021$162M74Aug 10, 202113F-HRchanges · EDGAR ↗
Q1 2021$153M74Apr 20, 202113F-HRchanges · EDGAR ↗
Q4 2020$140M72Jan 29, 202113F-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 ↗.