# HUTNER CAPITAL MANAGEMENT INC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 944733. Source: https://holderbook.com/funds/944733-hutner-capital-management-inc/

- Reported value: $252.1M
- Positions: 43
- Weight of the ten largest: 57.4%
- Filed: 2026-08-14

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| BERKSHIRE HATHAWAY INC DEL | [BRKA](https://holderbook.com/stocks/BRKA/) | $30.7M | 41 | 12.2% | 31 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $19.7M | 39,297 | 7.8% | 31 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $14.5M | 41,045 | 5.8% | 24 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $13.3M | 14,183 | 5.3% | 31 |
| PHILIP MORRIS INTL INC | [PM](https://holderbook.com/stocks/PM/) | $13.0M | 71,834 | 5.2% | 31 |
| COCA COLA CO | [KO](https://holderbook.com/stocks/KO/) | $12.5M | 154,028 | 5.0% | 31 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $11.5M | 45,099 | 4.5% | 31 |
| FRANCO NEV CORP | [FNV](https://holderbook.com/stocks/FNV/) | $10.1M | 48,444 | 4.0% | 31 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $10.1M | 40,013 | 4.0% | 31 |
| MCDONALDS CORP | [MCD](https://holderbook.com/stocks/MCD/) | $9.5M | 35,234 | 3.8% | 31 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $9.2M | 68,143 | 3.7% | 31 |
| ENBRIDGE INC | [ENB](https://holderbook.com/stocks/ENB/) | $8.8M | 161,690 | 3.5% | 31 |
| ALTRIA GROUP INC | [MO](https://holderbook.com/stocks/MO/) | $8.1M | 113,040 | 3.2% | 31 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $7.8M | 53,101 | 3.1% | 31 |
| AMERICAN EXPRESS CO | [AXP](https://holderbook.com/stocks/AXP/) | $7.0M | 20,835 | 2.8% | 31 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $6.5M | 57,724 | 2.6% | 31 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $6.4M | 22,289 | 2.6% | 30 |
| ENTERPRISE PRODS PARTNERS L | [EPD](https://holderbook.com/stocks/EPD/) | $5.1M | 138,729 | 2.0% | 31 |
| ANALOG DEVICES INC | [ADI](https://holderbook.com/stocks/ADI/) | $4.7M | 11,731 | 1.8% | 21 |
| CHUBB LIMITED | [CB](https://holderbook.com/stocks/CB/) | $4.6M | 13,541 | 1.8% | 8 |
| ABBOTT LABORATORIES | [ABT](https://holderbook.com/stocks/ABT/) | $4.0M | 43,797 | 1.6% | 31 |
| UNION PAC CORP | [UNP](https://holderbook.com/stocks/UNP/) | $3.6M | 13,053 | 1.4% | 31 |
| REALTY INCOME CORP | [O](https://holderbook.com/stocks/O/) | $3.4M | 54,267 | 1.3% | 31 |
| VERISK ANALYTICS INC | [VRSK](https://holderbook.com/stocks/VRSK/) | $3.2M | 17,641 | 1.3% | 31 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $2.9M | 8,478 | 1.2% | 6 |
| GENUINE PARTS CO | [GPC](https://holderbook.com/stocks/GPC/) | $2.8M | 23,654 | 1.1% | 31 |
| OREILLY AUTOMOTIVE INC | [ORLY](https://holderbook.com/stocks/ORLY/) | $2.7M | 29,674 | 1.1% | 22 |
| NORFOLK SOUTHN CORP | [NSC](https://holderbook.com/stocks/NSC/) | $2.3M | 7,454 | 0.9% | 31 |
| YUM BRANDS INC | [YUM](https://holderbook.com/stocks/YUM/) | $1.7M | 10,693 | 0.7% | 24 |
| RESTAURANT BRANDS INTL INC | [QSR](https://holderbook.com/stocks/QSR/) | $1.7M | 23,563 | 0.7% | 31 |
| HERSHEY CO | [HSY](https://holderbook.com/stocks/HSY/) | $1.6M | 9,378 | 0.7% | 31 |
| PROGRESSIVE CORP | [PGR](https://holderbook.com/stocks/PGR/) | $1.3M | 6,093 | 0.5% | 6 |
| SHERWIN WILLIAMS CO | [SHW](https://holderbook.com/stocks/SHW/) | $1.3M | 3,731 | 0.5% | 24 |
| WELLS FARGO & CO | [WFC](https://holderbook.com/stocks/WFC/) | $1.2M | 14,953 | 0.5% | 31 |
| NOVARTIS AG | [NVS](https://holderbook.com/stocks/NVS/) | $1.1M | 6,891 | 0.4% | 9 |
| EXPEDITORS INTL WASH INC | [EXPD](https://holderbook.com/stocks/EXPD/) | $1.1M | 6,485 | 0.4% | 31 |
| DIAGEO PLC | [DEO](https://holderbook.com/stocks/DEO/) | $739.0K | 9,194 | 0.3% | 31 |
| WEC ENERGY GROUP INC | [WEC](https://holderbook.com/stocks/WEC/) | $623.1K | 5,336 | 0.2% | 31 |
| ONEOK INC NEW | [OKE](https://holderbook.com/stocks/OKE/) | $605.3K | 6,962 | 0.2% | 12 |
| MOODYS CORP | [MCO](https://holderbook.com/stocks/MCO/) | $428.0K | 945 | 0.2% | 29 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $283.9K | 795 | 0.1% | 3 |
| UNITED PARCEL SVCS INC | [UPS](https://holderbook.com/stocks/UPS/) | $259.2K | 2,411 | 0.1% | 31 |
| CORNING INC | [GLW](https://holderbook.com/stocks/GLW/) | $204.3K | 800 | 0.1% | 1 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +2.6% | +14.8% | -12.2% | 100% |
| Q1 2026 | +1.8% | -4.6% | +6.5% | 100% |
| Q4 2025 | +0.5% | +2.4% | -1.8% | 100% |
| Q3 2025 | +5.2% | +7.8% | -2.6% | 100% |
| Q2 2025 | -2.0% | +10.5% | -12.5% | 100% |
| Q1 2025 | +9.3% | -4.6% | +13.9% | 100% |
| Q4 2024 | -2.3% | +2.1% | -4.4% | 100% |
| Q3 2024 | +10.2% | +5.4% | +4.8% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $252.1M | 43 |
| Q1 2026 | $243.4M | 44 |
| Q4 2025 | $239.6M | 44 |
| Q3 2025 | $236.4M | 44 |
| Q2 2025 | $219.8M | 44 |
| Q1 2025 | $234.3M | 48 |
| Q4 2024 | $207.1M | 45 |
| Q3 2024 | $200.9M | 45 |
| Q2 2024 | $182.4M | 44 |
| Q1 2024 | $184.4M | 43 |
| Q4 2023 | $169.7M | 44 |
| Q3 2023 | $163.1M | 45 |