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HUTNER CAPITAL MANAGEMENT INC

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13F filer, CIK 944733, MANCHESTER, VT

HUTNER CAPITAL MANAGEMENT INC reported $252,139,573 across 43 holdings for the quarter ended 2026-06-30, in a 13F-HR filed 2026-08-14. Its ten largest share positions make up 57.43% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0000944733-26-000003

Period
2026-06-30
Reported value
$252M
Holdings
43
Top 10 weight
57.43%
New
1
Sold out
2

Largest buys vs the previous quarter

SecurityShares changeApprox. value
VRSKadded+5,883$1.06M
CBadded+1,702$580K
GOOGadded+1,173$414K
QSRadded+5,566$404K
Vadded+955$328K

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-Breduced-2,665-$1.33M
ZTSexited-2,729-$323K
AMTexited-1,237-$214K
PGreduced-373-$54.7K
PMreduced-249-$45K

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, Q2 2026

Share positions as resolved from 13F-HR 0000944733-26-000003, largest first. % of portfolio is the value over $252,139,573, 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; 2024Q3: 52 shares; 2024Q4: 52 shares; 2025Q1: 51 shares; 2025Q2: 42 shares; 2025Q3: 41 shares; 2025Q4: 41 shares; 2026Q1: 41 shares; 2026Q2: 41 shares 41$30.7M12.18%0Timeline
BRK-BBERKSHIRE HATHAWAY INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 39,297 shares 39,297$19.7M7.8%-2,665Timeline
GOOGALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 41,045 shares 41,045$14.5M5.75%+1,173Timeline
COSTCOSTCO WHOLESALE CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 14,183 shares 14,183$13.3M5.26%+98Timeline
PMPHILIP MORRIS INTL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 71,834 shares 71,834$13M5.15%-249Timeline
KOCOCA COLA COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 154,028 shares 154,028$12.5M4.96%+372Timeline
JNJJOHNSON & JOHNSONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 45,099 shares 45,099$11.5M4.54%+37Timeline
FNVFRANCO NEV CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 48,444 shares 48,444$10.1M4%+1,218Timeline
ABBVABBVIE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 40,013 shares 40,013$10.1M3.99%+7Timeline
MCDMCDONALDS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 35,234 shares 35,234$9.52M3.78%+130Timeline
PEPPEPSICO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 68,143 shares 68,143$9.23M3.66%+1,651Timeline
ENBENBRIDGE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 161,690 shares 161,690$8.77M3.48%+1,034Timeline
MOALTRIA GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 113,040 shares 113,040$8.13M3.23%-294Timeline
PGPROCTER & GAMBLE COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 53,101 shares 53,101$7.79M3.09%-373Timeline
AXPAMERICAN EXPRESS COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 20,835 shares 20,835$7.05M2.8%+239Timeline
WMTWALMART INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 57,724 shares 57,724$6.54M2.59%-292Timeline
AAPLAPPLE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 22,289 shares 22,289$6.45M2.56%+218Timeline
EPDENTERPRISE PRODS PARTNERS LQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 138,729 shares 138,729$5.1M2.02%+1,676Timeline
ADIANALOG DEVICES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 11,731 shares 11,731$4.66M1.85%0Timeline
CBCHUBB LIMITEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 13,541 shares 13,541$4.61M1.83%+1,702Timeline
ABTABBOTT LABORATORIESQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 43,797 shares 43,797$3.97M1.58%-225Timeline
UNPUNION PAC CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 13,053 shares 13,053$3.55M1.41%+538Timeline
OREALTY INCOME CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 54,267 shares 54,267$3.36M1.33%+1,313Timeline
VRSKVERISK ANALYTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 17,641 shares 17,641$3.17M1.26%+5,883Timeline
VVISA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 8,478 shares 8,478$2.91M1.15%+955Timeline
GPCGENUINE PARTS COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 23,654 shares 23,654$2.79M1.11%+1Timeline
ORLYOREILLY AUTOMOTIVE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 29,674 shares 29,674$2.73M1.08%+210Timeline
NSCNORFOLK SOUTHN CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 7,454 shares 7,454$2.34M0.93%0Timeline
YUMYUM BRANDS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 10,693 shares 10,693$1.71M0.68%+376Timeline
QSRRESTAURANT BRANDS INTL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 23,563 shares 23,563$1.71M0.68%+5,566Timeline
HSYHERSHEY COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 9,378 shares 9,378$1.65M0.65%+91Timeline
PGRPROGRESSIVE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 6,093 shares 6,093$1.33M0.53%+50Timeline
SHWSHERWIN WILLIAMS COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 3,731 shares 3,731$1.28M0.51%0Timeline
WFCWELLS FARGO & COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 14,953 shares 14,953$1.24M0.49%-34Timeline
NVSNOVARTIS AGQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 6,891 shares 6,891$1.08M0.43%+57Timeline
EXPDEXPEDITORS INTL WASH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 6,485 shares 6,485$1.06M0.42%0Timeline
DEODIAGEO PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 9,194 shares 9,194$739K0.29%-250Timeline
WECWEC ENERGY GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 5,336 shares 5,336$623K0.25%0Timeline
OKEONEOK INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 6,962 shares 6,962$605K0.24%0Timeline
MCOMOODYS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 969 shares; 2024Q4: 959 shares; 2025Q1: 945 shares; 2025Q2: 945 shares; 2025Q3: 945 shares; 2025Q4: 945 shares; 2026Q1: 945 shares; 2026Q2: 945 shares 945$428K0.17%0Timeline
GOOGLALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 794 shares; 2026Q1: 794 shares; 2026Q2: 795 shares 795$284K0.11%+1Timeline
UPSUNITED PARCEL SVCS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 2,411 shares 2,411$259K0.1%-33Timeline
GLWCORNING INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 800 shares 800$204K0.08%newTimeline

Sold out in Q2 2026

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
ZTSZOETIS INC2,729$323Kshares
AMTAMERICAN TOWER CORP1,237$214Kshares

How Q2 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 0000944733-26-000003 base2026-08-14acceptance time not in the bulk data set