SEC 13F Intelligence

Managers / Q1 2025 · view latest →

Citadel Investment Advisory, Inc.

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

Reported Value
$204M
Q1 2025
Positions
82
Filings on Record
22
2021–present window
Filed
Apr 17, 2025
original filing

Summary

Citadel Investment Advisory, Inc. reported $204M in U.S.-listed holdings across 82 positions for Q1 2025.

The portfolio is heavily concentrated: BRK/B alone accounts for 28.6% of reported value.

The book was largely unchanged from Q4 2024.

Portfolio Metrics

Turnover
+3.8%
vs prior filed quarter
Top-10 Concentration
+65.3%
share of reported value
Largest Position
+28.6%
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
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: 96.1%Other: 3.1%ADR: 0.7%PUBLIC: 0.2%
  • Common Stock · 96.1% · $196M
  • Other · 3.1% · $6M
  • ADR · 0.7% · $1M
  • PUBLIC · 0.2% · $393,000

Quarter-over-Quarter Changes full breakdown →

vs Q4 2024 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
BUDAB InbevADDED+19.9K22.2K+$253,000$1M
PARAAParamount GlobalTRIMMED−1.1K7.0K−$1,000$84,000
Liberty Global cl ATRIMMED−7946.4K−$18,000$73,000
Liberty Global cl CTRIMMED−9068.8K−$22,000$105,000
KDPKeurig Dr. PepperADDED+4006.4K+$27,000$221,000
CACCCredit Acceptance CorpADDED+1573.0K+$212,000$2M
ORCLOracle CorpADDED+1.1K24.0K−$452,000$3M
IPMLFImperial Metals CorpHELD+87.9K1.85M+$1M$4M

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

Holdings — Q1 2025

80 positions (from 82 filing rows — )
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1BRK/BBeckshire Hathawayhistory →BRKB28.56%$58M109.3K
2MKLMarkel Corphistory →MKL14.69%$30M16.0K
3GOOGLAlphabet Inc. Class AGOOGL6.11%$12M80.2K
4PMPhilip Morris Intlhistory →PM3.22%$7M41.4K
5MSFTMicrosoft Corphistory →MSFT2.93%$6M15.9K
6IBMIBM Corphistory →IBM2.16%$4M17.7K
7JNJJohnson & Johnsonhistory →JNJ2.00%$4M24.6K
8RTXRaytheon Technologies Corphistory →RTX1.95%$4M30.1K
9ABBVAbbvie Inchistory →ABBV1.90%$4M18.5K
10MCOMoodys Corphistory →MCO1.82%$4M8.0K
11IPMLFImperial Metals Corphistory →IPMLF1.76%$4M1.85M
12MCDMcDonald'shistory →MCD1.72%$3M11.2K
13ORCLOracle Corphistory →ORCL1.65%$3M24.0K
14KOCoca Cola Cohistory →KO1.51%$3M43.0K
15BKNGBooking Holdings Inchistory →BKNG1.39%$3M615
16DISDisney Companyhistory →DIS1.23%$3M25.4K
17PEPPepsiCohistory →PEP1.23%$3M16.7K
18GDGeneral Dynamics Corphistory →GD1.20%$2M8.9K
19GSGoldman Sachs Group Inc.history →GS1.18%$2M4.4K
20MTDMettler Toledo Intlhistory →MTD1.08%$2M1.9K
21JPMJPMorgan Chase & Cohistory →JPM1.07%$2M8.9K
22MedtronicMDT1.04%$2M23.6K
23Cedar FairFUN0.90%$2M51.2K
24AXPAmerican ExpressAXP0.89%$2M6.7K
25IDXXIdexx Labs IncIDXX0.75%$2M3.6K
26CACCCredit Acceptance CorpCACC0.75%$2M3.0K
27WFCWells FargoWFC0.74%$2M21.0K
28MHKMohawk IndustriesMHK0.72%$1M12.8K
29BUDAB InbevBUD0.67%$1M22.2K
30CSXCSX CorpCSX0.64%$1M44.7K
31ABTAbbott LaboratoriesABT0.63%$1M9.6K
32LOWLowesLOW0.57%$1M5.0K
33AMGAffiliated ManagersAMG0.49%$998,0005.9K
34AMZNAmazonAMZN0.47%$965,0005.1K
35ETNEaton CorpETN0.46%$940,0003.5K
36BACBank of AmericaBAC0.45%$914,00021.9K
37DHRDanaher CorpDHR0.44%$896,0004.4K
38Howard HughsHHC0.44%$888,00012.0K
39SYYSysco CorpSYY0.42%$865,00011.5K
40JEFJefferies FinancialJEF0.40%$819,00015.3K
41EGEverest Re Group IncRE0.40%$809,0002.2K
42FISVFiserv IncFISV0.38%$784,0003.5K
43CNICanadian National RailwayCNI0.38%$776,0008.0K
44PGProctor & Gamble CoPG0.35%$709,0004.2K
45John Marshall BancorpJMSB0.32%$662,00040.1K
46CMCSAComcastCMCSA0.32%$660,00017.9K
47WRBBerkley W R CorpWRB0.32%$647,0009.1K
48MAMastercardMA0.31%$633,0001.2K
49BABoeing CompanyBA0.30%$611,0003.6K
50LDOSLeidos Holdings IncLDOS0.30%$610,0004.5K
51WBDWarner Brothers Discovery,incWBD0.29%$594,00055.4K
52WYNNWynn ResortsWYNN0.25%$519,0006.2K
53United Parcel Service IncUPS0.25%$512,0004.7K
54METAMETAMETA0.23%$467,000810
55TATTT0.22%$454,00016.0K
56ESABESAB CorpESAB0.22%$450,0003.9K
57LECOLincoln Electric HoldingsLECO0.22%$444,0002.3K
58Colgate PalmoliveCL0.19%$393,0004.2K
59Vistaprint NV CimpressCMPR0.19%$392,0008.7K
60CICigna CorpCI0.18%$372,0001.1K
61AAPLApple IncAAPL0.17%$355,0001.6K
62MDLZMondelez Intl IncMDLZ0.16%$330,0004.9K
63LBRDKLiberty Broadband cl CLBRDK0.15%$311,0003.7K
64SEICSEI InvestmentsSEIC0.15%$306,0003.9K
65WTWWillis Tower WatsonWTW0.14%$279,000826
66FCNFTI Consulting, Inc.FCN0.13%$274,0001.7K
67INTCIntelINTC0.13%$256,00011.3K
68BF/BBrown FormanBFB0.11%$231,0006.8K
69KHCKraft Heintz CoKHC0.11%$230,0007.5K
70KDPKeurig Dr. PepperKDP0.11%$221,0006.4K
71Sirius XM HoldingsSIRI0.10%$207,0009.2K
72Pinnacle Financial PartnersPNFP0.10%$202,0001.9K
73White MountainsWTM0.09%$193,000100
74Ascent Industries CorpACNT0.09%$186,00014.7K
75CABOCable One Inc.CABO0.09%$179,000675
76Liberty Global cl CLBTYK · LBTYA0.09%$178,00015.1K
77ENOVEnovis CorpENOV0.07%$134,0003.1K
78ECHOEchostar CorpSATS0.06%$114,0005.0K
79AAPAdvance Auto PartsAAP0.04%$90,0002.3K
80PARAAParamount GlobalPARA0.04%$84,0007.0K

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 ↗.