HUTNER CAPITAL MANAGEMENT INC — 13F Holdings & Portfolio
CIK 944733 · latest 13F-HR filed 2026-05-15
HUTNER CAPITAL MANAGEMENT INC manages $243.4M in 13F-reported U.S. long-equity assets across 44 reported positions as of its 2026-03-31 13F-HR filing. Its largest disclosed positions are BRK.A (12.10%), BRK.B (8.26%), COST (5.77%). Quarter over quarter (versus its 2025-12-31 filing) the fund opened 0 new positions, exited 0, added to 19, and trimmed 16.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
$243.4M
Long-equity book
44
Distinct positions
2026-03-31
Filed 2026-05-15
+0 / −0 / ↑19 / ↓16
vs 2025-12-31
| Name | Title / Status | Ownership | Type |
|---|
Top Adds (vs prior quarter)
- Costco Whsl Corp$1.9M +15.5%
- Franco-Nevada Corp$1.9M +19.2%
- Johnson & Johnson$1.7M +17.7%
- Enbridge Inc$1.1M +13.8%
- PepsiCo Inc$966.0K +10.3%
Top Trims
- American Express Company-$1.3M -17.5%
- Alphabet Inc Class C-$1.0M -8.1%
- Abbott Labs-$992.5K -18.0%
- AbbVie Inc-$866.4K -9.1%
- Diageo PLC Sponsored ADR-$729.5K -50.9%
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | Berkshire Hathaway Inc Cl A | BRK.A | 084670108 | $29.4M | 12.10% | 41 | SH |
| 2 | Berkshire Hathaway Inc Cl B | BRK.B | 084670702 | $20.1M | 8.26% | 41,962 | SH |
| 3 | Costco Whsl Corp | COST | 22160K105 | $14.0M | 5.77% | 14,085 | SH |
| 4 | Philip Morris International In | PM | 718172109 | $11.9M | 4.90% | 72,083 | SH |
| 5 | Coca-Cola Company | KO | 191216100 | $11.7M | 4.80% | 153,656 | SH |
| 6 | Franco-Nevada Corp | FNV | 351858105 | $11.7M | 4.79% | 47,226 | SH |
| 7 | Alphabet Inc Class C | GOOG | 02079K107 | $11.4M | 4.70% | 39,872 | SH |
| 8 | Johnson & Johnson | JNJ | 478160104 | $11.0M | 4.53% | 45,062 | SH |
| 9 | McDonald's Corp | MCD | 580135101 | $10.9M | 4.48% | 35,104 | SH |
| 10 | PepsiCo Inc | PEP | 713448108 | $10.3M | 4.24% | 66,492 | SH |
| 11 | AbbVie Inc | ABBV | 00287Y109 | $8.7M | 3.57% | 40,006 | SH |
| 12 | Enbridge Inc | ENB | 29250N105 | $8.7M | 3.57% | 160,656 | SH |
| 13 | Procter & Gamble Co | PG | 742718109 | $7.7M | 3.17% | 53,474 | SH |
| 14 | Altria Group Inc | MO | 02209S103 | $7.5M | 3.07% | 113,334 | SH |
| 15 | Walmart Inc | WMT | 931142103 | $7.2M | 2.96% | 58,016 | SH |
| 16 | American Express Company | AXP | 025816109 | $6.2M | 2.56% | 20,596 | SH |
| 17 | Apple Inc | AAPL | 037833100 | $5.6M | 2.30% | 22,071 | SH |
| 18 | Enterprise Prods Partners LP | EPD | 293792107 | $5.2M | 2.13% | 137,053 | SH |
| 19 | Abbott Labs | ABT | 002824100 | $4.5M | 1.86% | 44,022 | SH |
| 20 | Chubb Limited | CB | H1467J104 | $3.9M | 1.59% | 11,839 | SH |
| 21 | Analog Devices Inc | ADI | 032654105 | $3.7M | 1.53% | 11,731 | SH |
| 22 | Realty Income Corp | O | 756109104 | $3.2M | 1.33% | 52,954 | SH |
| 23 | Union Pacific Corp | UNP | 907818108 | $3.0M | 1.25% | 12,515 | SH |
| 24 | O'Reilly Automotive Inc | ORLY | 67103H107 | $2.7M | 1.12% | 29,464 | SH |
| 25 | Genuine Parts Co | GPC | 372460105 | $2.5M | 1.03% | 23,653 | SH |
| 26 | Visa Inc | V | 92826C839 | $2.3M | 0.93% | 7,523 | SH |
| 27 | Verisk Analytics | VRSK | 92345Y106 | $2.2M | 0.92% | 11,758 | SH |
| 28 | Norfolk Southern Corp | NSC | 655844108 | $2.1M | 0.88% | 7,454 | SH |
| 29 | Hershey Company | HSY | 427866108 | $1.9M | 0.79% | 9,287 | SH |
| 30 | Yum Brands Inc | YUM | 988498101 | $1.6M | 0.66% | 10,317 | SH |
| 31 | Restaurant Brands Internationa | QSR | 76131D103 | $1.3M | 0.55% | 17,997 | SH |
| 32 | Progressive Corp | PGR | 743315103 | $1.2M | 0.49% | 6,043 | SH |
| 33 | Sherwin-Williams Co. | SHW | 824348106 | $1.2M | 0.49% | 3,731 | SH |
| 34 | Wells Fargo & Co | WFC | 949746101 | $1.2M | 0.49% | 14,987 | SH |
| 35 | Novartis International AG ADR | NVS | 66987V109 | $1.0M | 0.43% | 6,834 | SH |
| 36 | Expeditors International | EXPD | 302130109 | $928.8K | 0.38% | 6,485 | SH |
| 37 | Diageo PLC Sponsored ADR | DEO | 25243Q205 | $703.1K | 0.29% | 9,444 | SH |
| 38 | Oneok, Inc | OKE | 682680103 | $629.3K | 0.26% | 6,962 | SH |
| 39 | WEC Energy Group Inc | WEC | 92939U106 | $617.7K | 0.25% | 5,336 | SH |
| 40 | Moody's Corp | MCO | 615369105 | $412.3K | 0.17% | 945 | SH |
| 41 | Zoetis Inc Cl A | ZTS | 98978V103 | $322.6K | 0.13% | 2,729 | SH |
| 42 | United Parcel Svc Inc Cl B | UPS | 911312106 | $240.4K | 0.10% | 2,444 | SH |
| 43 | Alphabet Inc Class A | GOOGL | 02079K305 | $228.5K | 0.09% | 794 | SH |
| 44 | American Tower Systems Corp Cl | AMT | 03027X100 | $213.5K | 0.09% | 1,237 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-03-31 | 2026-05-15 | $243.4M | 44 | 0000944733-26-000002 |
| 2025-12-31 | 2026-02-17 | $239.6M | 44 | 0000944733-26-000001 |
| 2025-09-30 | 2025-11-13 | $236.4M | 44 | 0000944733-25-000006 |