Skip to content
Disclosery

HUTNER CAPITAL MANAGEMENT INC

Follow

13F filer, CIK 944733, MANCHESTER, VT

HUTNER CAPITAL MANAGEMENT INC reported $243,418,746 across 44 holdings for the quarter ended 2026-03-31, in a 13F-HR filed 2026-05-15. Its ten largest share positions make up 58.56% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0000944733-26-000002

Period
2026-03-31
Reported value
$243M
Holdings
44
Top 10 weight
58.56%
New
0
Sold out
0

Largest buys vs the previous quarter

SecurityShares changeApprox. value
PEPadded+1,278$198K
CBadded+561$183K
Vadded+600$181K
VRSKadded+558$106K
Oadded+1,413$86.4K

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
DEOreduced-7,162-$533K
ABBVreduced-1,866-$406K
PMreduced-1,520-$251K
UPSreduced-1,896-$187K
GPCreduced-1,375-$145K

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 2026

Share positions as resolved from 13F-HR 0000944733-26-000002, largest first. % of portfolio is the value over $243,418,746, 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; 2024Q2: restricted; 2024Q3: 52 shares; 2024Q4: 52 shares; 2025Q1: 51 shares; 2025Q2: 42 shares; 2025Q3: 41 shares; 2025Q4: 41 shares; 2026Q1: 41 shares 41$29.4M12.1%0Timeline
BRK-BBERKSHIRE HATHAWAY INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 31,741 shares; 2024Q4: 34,590 shares; 2025Q1: 37,966 shares; 2025Q2: 41,301 shares; 2025Q3: 42,201 shares; 2025Q4: 41,919 shares; 2026Q1: 41,962 shares 41,962$20.1M8.26%+43Timeline
COSTCOSTCO WHOLESALE CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 16,292 shares; 2024Q4: 16,190 shares; 2025Q1: 15,522 shares; 2025Q2: 14,227 shares; 2025Q3: 14,191 shares; 2025Q4: 14,094 shares; 2026Q1: 14,085 shares 14,085$14M5.77%-9Timeline
PMPHILIP MORRIS INTL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 69,778 shares; 2024Q4: 76,790 shares; 2025Q1: 78,487 shares; 2025Q2: 73,616 shares; 2025Q3: 74,067 shares; 2025Q4: 73,603 shares; 2026Q1: 72,083 shares 72,083$11.9M4.9%-1,520Timeline
KOCOCA COLA COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 128,014 shares; 2024Q4: 147,769 shares; 2025Q1: 150,719 shares; 2025Q2: 153,003 shares; 2025Q3: 155,194 shares; 2025Q4: 153,961 shares; 2026Q1: 153,656 shares 153,656$11.7M4.8%-305Timeline
FNVFRANCO NEV CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 34,880 shares; 2024Q4: 39,848 shares; 2025Q1: 47,842 shares; 2025Q2: 44,995 shares; 2025Q3: 46,767 shares; 2025Q4: 47,233 shares; 2026Q1: 47,226 shares 47,226$11.7M4.79%-7Timeline
GOOGALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 27,860 shares; 2024Q4: 36,112 shares; 2025Q1: 41,648 shares; 2025Q2: 38,790 shares; 2025Q3: 39,696 shares; 2025Q4: 39,654 shares; 2026Q1: 39,872 shares 39,872$11.4M4.7%+218Timeline
JNJJOHNSON & JOHNSONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 43,586 shares; 2024Q4: 46,286 shares; 2025Q1: 47,697 shares; 2025Q2: 42,631 shares; 2025Q3: 44,164 shares; 2025Q4: 45,214 shares; 2026Q1: 45,062 shares 45,062$11M4.53%-152Timeline
MCDMCDONALDS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 30,189 shares; 2024Q4: 32,630 shares; 2025Q1: 34,382 shares; 2025Q2: 34,351 shares; 2025Q3: 34,647 shares; 2025Q4: 34,955 shares; 2026Q1: 35,104 shares 35,104$10.9M4.48%+149Timeline
PEPPEPSICO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 46,918 shares; 2024Q4: 53,783 shares; 2025Q1: 54,525 shares; 2025Q2: 54,957 shares; 2025Q3: 62,473 shares; 2025Q4: 65,214 shares; 2026Q1: 66,492 shares 66,492$10.3M4.24%+1,278Timeline
ABBVABBVIE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 38,502 shares; 2024Q4: 42,403 shares; 2025Q1: 43,096 shares; 2025Q2: 41,964 shares; 2025Q3: 42,120 shares; 2025Q4: 41,872 shares; 2026Q1: 40,006 shares 40,006$8.7M3.57%-1,866Timeline
ENBENBRIDGE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 110,009 shares; 2024Q4: 123,242 shares; 2025Q1: 139,241 shares; 2025Q2: 147,628 shares; 2025Q3: 154,684 shares; 2025Q4: 159,798 shares; 2026Q1: 160,656 shares 160,656$8.7M3.57%+858Timeline
PGPROCTER & GAMBLE COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 48,058 shares; 2024Q4: 53,210 shares; 2025Q1: 53,919 shares; 2025Q2: 53,226 shares; 2025Q3: 53,941 shares; 2025Q4: 53,814 shares; 2026Q1: 53,474 shares 53,474$7.72M3.17%-340Timeline
MOALTRIA GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 99,348 shares; 2024Q4: 102,852 shares; 2025Q1: 106,733 shares; 2025Q2: 110,894 shares; 2025Q3: 114,174 shares; 2025Q4: 113,534 shares; 2026Q1: 113,334 shares 113,334$7.48M3.07%-200Timeline
WMTWALMART INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 65,602 shares; 2024Q4: 64,633 shares; 2025Q1: 63,281 shares; 2025Q2: 59,899 shares; 2025Q3: 59,834 shares; 2025Q4: 58,185 shares; 2026Q1: 58,016 shares 58,016$7.21M2.96%-169Timeline
AXPAMERICAN EXPRESS COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 22,677 shares; 2024Q4: 22,352 shares; 2025Q1: 22,309 shares; 2025Q2: 20,659 shares; 2025Q3: 20,660 shares; 2025Q4: 20,409 shares; 2026Q1: 20,596 shares 20,596$6.23M2.56%+187Timeline
AAPLAPPLE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 17,773 shares; 2024Q4: 17,496 shares; 2025Q1: 17,523 shares; 2025Q2: 20,094 shares; 2025Q3: 22,117 shares; 2025Q4: 22,085 shares; 2026Q1: 22,071 shares 22,071$5.6M2.3%-14Timeline
EPDENTERPRISE PRODS PARTNERS LQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 90,109 shares; 2024Q4: 102,654 shares; 2025Q1: 123,369 shares; 2025Q2: 136,489 shares; 2025Q3: 137,784 shares; 2025Q4: 137,053 shares; 2026Q1: 137,053 shares 137,053$5.19M2.13%0Timeline
ABTABBOTT LABORATORIESQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 41,950 shares; 2024Q4: 41,854 shares; 2025Q1: 41,248 shares; 2025Q2: 41,474 shares; 2025Q3: 43,162 shares; 2025Q4: 43,996 shares; 2026Q1: 44,022 shares 44,022$4.52M1.86%+26Timeline
CBCHUBB LIMITEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 2,035 shares; 2024Q4: 6,456 shares; 2025Q1: 7,943 shares; 2025Q2: 9,816 shares; 2025Q3: 10,471 shares; 2025Q4: 11,278 shares; 2026Q1: 11,839 shares 11,839$3.86M1.59%+561Timeline
ADIANALOG DEVICES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 12,702 shares; 2024Q4: 12,692 shares; 2025Q1: 12,500 shares; 2025Q2: 10,546 shares; 2025Q3: 11,278 shares; 2025Q4: 11,741 shares; 2026Q1: 11,731 shares 11,731$3.73M1.53%-10Timeline
OREALTY INCOME CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 36,012 shares; 2024Q4: 43,423 shares; 2025Q1: 44,694 shares; 2025Q2: 45,140 shares; 2025Q3: 48,206 shares; 2025Q4: 51,541 shares; 2026Q1: 52,954 shares 52,954$3.24M1.33%+1,413Timeline
UNPUNION PAC CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 13,210 shares; 2024Q4: 13,182 shares; 2025Q1: 13,315 shares; 2025Q2: 11,948 shares; 2025Q3: 12,326 shares; 2025Q4: 12,276 shares; 2026Q1: 12,515 shares 12,515$3.04M1.25%+239Timeline
ORLYOREILLY AUTOMOTIVE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 1,846 shares; 2024Q4: 1,843 shares; 2025Q1: 2,060 shares; 2025Q2: 28,607 shares; 2025Q3: 28,588 shares; 2025Q4: 29,395 shares; 2026Q1: 29,464 shares 29,464$2.72M1.12%+69Timeline
GPCGENUINE PARTS COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 23,158 shares; 2024Q4: 23,114 shares; 2025Q1: 22,603 shares; 2025Q2: 22,622 shares; 2025Q3: 24,899 shares; 2025Q4: 25,028 shares; 2026Q1: 23,653 shares 23,653$2.5M1.03%-1,375Timeline
VVISA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 2,644 shares; 2025Q2: 4,334 shares; 2025Q3: 5,020 shares; 2025Q4: 6,923 shares; 2026Q1: 7,523 shares 7,523$2.27M0.93%+600Timeline
VRSKVERISK ANALYTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 13,400 shares; 2024Q4: 13,238 shares; 2025Q1: 13,220 shares; 2025Q2: 11,200 shares; 2025Q3: 11,200 shares; 2025Q4: 11,200 shares; 2026Q1: 11,758 shares 11,758$2.23M0.92%+558Timeline
NSCNORFOLK SOUTHN CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 7,509 shares; 2024Q4: 7,509 shares; 2025Q1: 7,464 shares; 2025Q2: 7,344 shares; 2025Q3: 7,454 shares; 2025Q4: 7,454 shares; 2026Q1: 7,454 shares 7,454$2.14M0.88%0Timeline
HSYHERSHEY COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 8,325 shares; 2024Q4: 8,291 shares; 2025Q1: 8,130 shares; 2025Q2: 7,595 shares; 2025Q3: 8,518 shares; 2025Q4: 9,284 shares; 2026Q1: 9,287 shares 9,287$1.93M0.79%+3Timeline
YUMYUM BRANDS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 5,033 shares; 2024Q4: 5,048 shares; 2025Q1: 5,109 shares; 2025Q2: 6,324 shares; 2025Q3: 7,703 shares; 2025Q4: 9,801 shares; 2026Q1: 10,317 shares 10,317$1.6M0.66%+516Timeline
QSRRESTAURANT BRANDS INTL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 24,071 shares; 2024Q4: 24,048 shares; 2025Q1: 21,660 shares; 2025Q2: 15,954 shares; 2025Q3: 15,786 shares; 2025Q4: 17,788 shares; 2026Q1: 17,997 shares 17,997$1.33M0.55%+209Timeline
PGRPROGRESSIVE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 3,487 shares; 2025Q2: 5,354 shares; 2025Q3: 5,540 shares; 2025Q4: 6,039 shares; 2026Q1: 6,043 shares 6,043$1.2M0.49%+4Timeline
SHWSHERWIN WILLIAMS COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 2,422 shares; 2024Q4: 2,413 shares; 2025Q1: 2,426 shares; 2025Q2: 2,715 shares; 2025Q3: 3,111 shares; 2025Q4: 3,605 shares; 2026Q1: 3,731 shares 3,731$1.2M0.49%+126Timeline
WFCWELLS FARGO & COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 15,116 shares; 2024Q4: 15,117 shares; 2025Q1: 15,117 shares; 2025Q2: 15,118 shares; 2025Q3: 15,104 shares; 2025Q4: 15,087 shares; 2026Q1: 14,987 shares 14,987$1.19M0.49%-100Timeline
NVSNOVARTIS AGQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 2,570 shares; 2024Q4: 5,894 shares; 2025Q1: 5,764 shares; 2025Q2: 5,787 shares; 2025Q3: 6,433 shares; 2025Q4: 6,832 shares; 2026Q1: 6,834 shares 6,834$1.04M0.43%+2Timeline
EXPDEXPEDITORS INTL WASH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 7,761 shares; 2024Q4: 7,306 shares; 2025Q1: 7,306 shares; 2025Q2: 6,526 shares; 2025Q3: 6,516 shares; 2025Q4: 6,492 shares; 2026Q1: 6,485 shares 6,485$929K0.38%-7Timeline
DEODIAGEO PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 19,173 shares; 2024Q4: 17,968 shares; 2025Q1: 17,716 shares; 2025Q2: 16,768 shares; 2025Q3: 16,768 shares; 2025Q4: 16,606 shares; 2026Q1: 9,444 shares 9,444$703K0.29%-7,162Timeline
OKEONEOK INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 20,589 shares; 2024Q4: 20,589 shares; 2025Q1: 20,369 shares; 2025Q2: 19,984 shares; 2025Q3: 16,047 shares; 2025Q4: 6,962 shares; 2026Q1: 6,962 shares 6,962$629K0.26%0Timeline
WECWEC ENERGY GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 5,427 shares; 2024Q4: 5,427 shares; 2025Q1: 5,427 shares; 2025Q2: 5,427 shares; 2025Q3: 5,427 shares; 2025Q4: 5,356 shares; 2026Q1: 5,336 shares 5,336$618K0.25%-20Timeline
MCOMOODYS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 969 shares; 2024Q4: 959 shares; 2025Q1: 945 shares; 2025Q2: 945 shares; 2025Q3: 945 shares; 2025Q4: 945 shares; 2026Q1: 945 shares 945$412K0.17%0Timeline
ZTSZOETIS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 2,115 shares; 2025Q2: 1,977 shares; 2025Q3: 2,729 shares; 2025Q4: 2,729 shares; 2026Q1: 2,729 shares 2,729$323K0.13%0Timeline
UPSUNITED PARCEL SVCS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 5,271 shares; 2024Q4: 5,251 shares; 2025Q1: 4,552 shares; 2025Q2: 4,403 shares; 2025Q3: 4,388 shares; 2025Q4: 4,340 shares; 2026Q1: 2,444 shares 2,444$240K0.1%-1,896Timeline
GOOGLALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 794 shares; 2026Q1: 794 shares 794$228K0.09%0Timeline
AMTAMERICAN TOWER CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 5,223 shares; 2024Q4: 2,347 shares; 2025Q1: 1,546 shares; 2025Q2: 1,538 shares; 2025Q3: 1,510 shares; 2025Q4: 1,468 shares; 2026Q1: 1,237 shares 1,237$214K0.09%-231Timeline

How Q1 2026 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 0000944733-26-000002 base2026-05-15acceptance time not in the bulk data set