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HUTNER CAPITAL MANAGEMENT INC

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13F filer, CIK 944733, MANCHESTER, VT

HUTNER CAPITAL MANAGEMENT INC reported $234,311,422 across 48 holdings for the quarter ended 2025-03-31, in a 13F-HR filed 2025-05-13. Its ten largest share positions make up 61.42% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0000944733-25-000002

Period
2025-03-31
Reported value
$234M
Holdings
48
Top 10 weight
61.42%
New
3
Sold out
0

Largest buys vs the previous quarter

SecurityShares changeApprox. value
BRK-Badded+3,376$1.8M
FNVadded+7,994$1.26M
PGRnew+3,487$987K
Vnew+2,644$927K
GOOGadded+5,536$865K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
BRK-Areduced-1-$798K
COSTreduced-668-$632K
AMTreduced-801-$174K
QSRreduced-2,388-$159K
WMTreduced-1,352-$119K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q1 2025

Share positions as resolved from 13F-HR 0000944733-25-000002, largest first. % of portfolio is the value over $234,311,422, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
BRK-ABERKSHIRE HATHAWAY INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 52 shares; 2024Q4: 52 shares; 2025Q1: 51 shares 51$40.7M17.38%-1Timeline
BRK-BBERKSHIRE HATHAWAY INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 31,741 shares; 2024Q4: 34,590 shares; 2025Q1: 37,966 shares 37,966$20.2M8.63%+3,376Timeline
COSTCOSTCO WHOLESALE CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 16,292 shares; 2024Q4: 16,190 shares; 2025Q1: 15,522 shares 15,522$14.7M6.27%-668Timeline
PMPHILIP MORRIS INTL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 69,778 shares; 2024Q4: 76,790 shares; 2025Q1: 78,487 shares 78,487$12.5M5.32%+1,697Timeline
KOCOCA COLA COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 128,014 shares; 2024Q4: 147,769 shares; 2025Q1: 150,719 shares 150,719$10.8M4.61%+2,950Timeline
MCDMCDONALDS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 30,189 shares; 2024Q4: 32,630 shares; 2025Q1: 34,382 shares 34,382$10.7M4.58%+1,752Timeline
PGPROCTER & GAMBLE COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 48,058 shares; 2024Q4: 53,210 shares; 2025Q1: 53,919 shares 53,919$9.19M3.92%+709Timeline
ABBVABBVIE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 38,502 shares; 2024Q4: 42,403 shares; 2025Q1: 43,096 shares 43,096$9.03M3.85%+693Timeline
PEPPEPSICO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 46,918 shares; 2024Q4: 53,783 shares; 2025Q1: 54,525 shares 54,525$8.18M3.49%+742Timeline
JNJJOHNSON & JOHNSONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 43,586 shares; 2024Q4: 46,286 shares; 2025Q1: 47,697 shares 47,697$7.91M3.38%+1,411Timeline
FNVFRANCO NEV CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 34,880 shares; 2024Q4: 39,848 shares; 2025Q1: 47,842 shares 47,842$7.54M3.22%+7,994Timeline
GOOGALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 27,860 shares; 2024Q4: 36,112 shares; 2025Q1: 41,648 shares 41,648$6.51M2.78%+5,536Timeline
MOALTRIA GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 99,348 shares; 2024Q4: 102,852 shares; 2025Q1: 106,733 shares 106,733$6.41M2.73%+3,881Timeline
ENBENBRIDGE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 110,009 shares; 2024Q4: 123,242 shares; 2025Q1: 139,241 shares 139,241$6.17M2.63%+15,999Timeline
AXPAMERICAN EXPRESS COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 22,677 shares; 2024Q4: 22,352 shares; 2025Q1: 22,309 shares 22,309$6M2.56%-43Timeline
WMTWALMART INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 65,602 shares; 2024Q4: 64,633 shares; 2025Q1: 63,281 shares 63,281$5.56M2.37%-1,352Timeline
ABTABBOTT LABORATORIESQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 41,950 shares; 2024Q4: 41,854 shares; 2025Q1: 41,248 shares 41,248$5.47M2.34%-606Timeline
EPDENTERPRISE PRODS PARTNERS LQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 90,109 shares; 2024Q4: 102,654 shares; 2025Q1: 123,369 shares 123,369$4.21M1.8%+20,715Timeline
VRSKVERISK ANALYTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 13,400 shares; 2024Q4: 13,238 shares; 2025Q1: 13,220 shares 13,220$3.93M1.68%-18Timeline
AAPLAPPLE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 17,773 shares; 2024Q4: 17,496 shares; 2025Q1: 17,523 shares 17,523$3.89M1.66%+27Timeline
UNPUNION PAC CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 13,210 shares; 2024Q4: 13,182 shares; 2025Q1: 13,315 shares 13,315$3.15M1.34%+133Timeline
ORLYOREILLY AUTOMOTIVE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,846 shares; 2024Q4: 1,843 shares; 2025Q1: 2,060 shares 2,060$2.95M1.26%+217Timeline
GPCGENUINE PARTS COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 23,158 shares; 2024Q4: 23,114 shares; 2025Q1: 22,603 shares 22,603$2.69M1.15%-511Timeline
OREALTY INCOME CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 36,012 shares; 2024Q4: 43,423 shares; 2025Q1: 44,694 shares 44,694$2.59M1.11%+1,271Timeline
ADIANALOG DEVICES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 12,702 shares; 2024Q4: 12,692 shares; 2025Q1: 12,500 shares 12,500$2.52M1.08%-192Timeline
CBCHUBB LIMITEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,035 shares; 2024Q4: 6,456 shares; 2025Q1: 7,943 shares 7,943$2.4M1.02%+1,487Timeline
OKEONEOK INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 20,589 shares; 2024Q4: 20,589 shares; 2025Q1: 20,369 shares 20,369$2.02M0.86%-220Timeline
DEODIAGEO PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 19,173 shares; 2024Q4: 17,968 shares; 2025Q1: 17,716 shares 17,716$1.86M0.79%-252Timeline
NSCNORFOLK SOUTHN CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 7,509 shares; 2024Q4: 7,509 shares; 2025Q1: 7,464 shares 7,464$1.77M0.75%-45Timeline
QSRRESTAURANT BRANDS INTL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 24,071 shares; 2024Q4: 24,048 shares; 2025Q1: 21,660 shares 21,660$1.44M0.62%-2,388Timeline
HSYHERSHEY COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 8,325 shares; 2024Q4: 8,291 shares; 2025Q1: 8,130 shares 8,130$1.39M0.59%-161Timeline
WFCWELLS FARGO & COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 15,116 shares; 2024Q4: 15,117 shares; 2025Q1: 15,117 shares 15,117$1.09M0.46%0Timeline
PGRPROGRESSIVE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 3,487 shares 3,487$987K0.42%newTimeline
VVISA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 2,644 shares 2,644$927K0.4%newTimeline
EXPDEXPEDITORS INTL WASH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 7,761 shares; 2024Q4: 7,306 shares; 2025Q1: 7,306 shares 7,306$879K0.37%0Timeline
SHWSHERWIN WILLIAMS COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,422 shares; 2024Q4: 2,413 shares; 2025Q1: 2,426 shares 2,426$847K0.36%+13Timeline
YUMYUM BRANDS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,033 shares; 2024Q4: 5,048 shares; 2025Q1: 5,109 shares 5,109$804K0.34%+61Timeline
NVSNOVARTIS AGQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,570 shares; 2024Q4: 5,894 shares; 2025Q1: 5,764 shares 5,764$643K0.27%-130Timeline
WECWEC ENERGY GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,427 shares; 2024Q4: 5,427 shares; 2025Q1: 5,427 shares 5,427$591K0.25%0Timeline
UPSUNITED PARCEL SVCS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,271 shares; 2024Q4: 5,251 shares; 2025Q1: 4,552 shares 4,552$501K0.21%-699Timeline
MCOMOODYS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 969 shares; 2024Q4: 959 shares; 2025Q1: 945 shares 945$440K0.19%-14Timeline
KHCKRAFT HEINZ COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 15,852 shares; 2024Q4: 15,491 shares; 2025Q1: 13,824 shares 13,824$421K0.18%-1,667Timeline
CVXCHEVRON CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,862 shares; 2024Q4: 2,619 shares; 2025Q1: 2,488 shares 2,488$416K0.18%-131Timeline
ZTSZOETIS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 2,115 shares 2,115$348K0.15%newTimeline
AMTAMERICAN TOWER CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,223 shares; 2024Q4: 2,347 shares; 2025Q1: 1,546 shares 1,546$337K0.14%-801Timeline
MDLZMONDELEZ INTL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,690 shares; 2024Q4: 3,690 shares; 2025Q1: 3,647 shares 3,647$247K0.11%-43Timeline
VZVERIZON COMMUNICATIONS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,266 shares; 2024Q4: 5,733 shares; 2025Q1: 5,370 shares 5,370$244K0.1%-363Timeline
UNHUNITEDHEALTH GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 400 shares; 2024Q4: 400 shares; 2025Q1: 400 shares 400$210K0.09%0Timeline

How Q1 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0000944733-25-000002 base2025-05-13acceptance time not in the bulk data set