HUTNER CAPITAL MANAGEMENT INC

CIK

944733

Location

MANCHESTER, VT

Portfolio Value

Small $247,525,730

Diversification

Diversified

Filing Date

Global Rank

#4,089 / 8,633 ▼ 113

Top Industry

Insurance - Diversified 20.3%

3Y Alpha vs SPY

+0.1%

Period ended 51 days ago

Filed Aug 14, 2026 · 6d

26 quarters · since Mar 2020

Clone Performance

Aug 2023–Aug 2026 · vs SPY

Hypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.

Cloned portfolio

+79.0%

SPY

+76.2%

Annualised alpha

+0.6%

Max drawdown

−8.9%

Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. Returns use comparable raw closes and exclude dividends; a captured split can shorten the simulated window. It tracks 100% of reported value on average across 13 quarters. Past performance does not predict future results.

Portfolio Concentration

40 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

20.3%

−0.0 pts

Top 5

42.0%

+1.4 pts

Top 10

62.3%

+0.1 pts

HHI

694

Diversified+5

Portfolio Trend

26 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Consumer Defensive	29.4%	$72,849,837	9
Financial Services	25.6%	$63,317,569	6
Healthcare	10.7%	$26,576,760	4
Consumer Cyclical	7.5%	$18,465,413	5
Communication Services	6.0%	$14,786,538	1
Energy	5.8%	$14,470,168	3
Basic Materials	4.6%	$11,382,324	2
Technology	4.6%	$11,313,090	3
Industrials	4.2%	$10,378,564	5
Real Estate	1.4%	$3,362,383	1
Utilities	0.3%	$623,084	1

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

23 positions

Ticker	Company	Δ Shares	Shares	Value
VRSK	Verisk Analytics, Inc.	+5,883	17,641	$3,167,088
QSR	Restaurant Brands International Inc.	+5,566	23,563	$1,708,553
EPD	Enterprise Products Partners L.P.	+1,676	138,729	$5,099,678
PEP	Pepsico Inc	+1,651	68,143	$9,226,562
O	Realty Income Corp	+1,313	54,267	$3,362,383
FNV	FRANCO NEVADA Corp	+1,218	48,444	$10,097,667
GOOGL	Alphabet Inc.	+1,174	41,840	$14,786,538
ENB	Enbridge Inc	+1,034	161,690	$8,765,214
V	Visa Inc.	+955	8,478	$2,908,717
UNP	Union Pacific Corp	+538	13,053	$3,550,416
YUM	Yum Brands Inc	+376	10,693	$1,709,382
KO	Coca Cola Co	+372	154,028	$12,517,855
AXP	American Express Co	+239	20,835	$7,047,438
AAPL	Apple Inc.	+218	22,289	$6,449,545
ORLY	O Reilly Automotive Inc	+210	29,674	$2,732,678
MCD	Mcdonalds Corp	+130	35,234	$9,524,102
COST	Costco Wholesale Corp /New	+98	14,183	$13,267,771
HSY	Hershey Co	+91	9,378	$1,645,370
NVS	Novartis AG	+57	6,891	$1,079,957
PGR	Progressive Corp/Oh/	+50	6,093	$1,331,015
JNJ	Johnson & Johnson	+37	45,099	$11,453,793
ABBV	AbbVie Inc.	+7	40,013	$10,068,871
GPC	Genuine Parts Co	+1	23,654	$2,790,698
No positions match the current search.

Trimmed

Positions the filer reduced

9 positions

Ticker	Company	Δ Shares	Shares	Value
BRK-B	Berkshire Hathaway Inc	−2,665	39,338	$50,366,675
PG	PROCTER & GAMBLE Co	−373	53,101	$7,786,730
MO	Altria Group, Inc.	−294	113,040	$8,133,228
WMT	Walmart Inc.	−292	57,724	$6,537,820
DEO	Diageo PLC	−250	9,194	$739,013
PM	Philip Morris International Inc.	−249	71,834	$12,995,488
ABT	Abbott Laboratories	−225	43,797	$3,974,139
WFC	Wells Fargo & Company/Mn	−34	14,953	$1,235,715
UPS	United Parcel Service Inc	−33	2,411	$259,182
No positions match the current search.

New Positions

Positions the filer opened this quarter

1 positions

Ticker	Company	Shares	Value	Open
GLW	Corning Inc /Ny	800	$204,344
No positions match the current search.

Sold Out

Positions the filer fully exited

3 positions

Ticker	Company	Shares	Value
CB	Chubb Ltd	11,839	$3,858,685
ZTS	Zoetis Inc.	2,729	$322,595
AMT	American Tower Corp /Ma/	1,237	$213,481
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

40 tracked positions · $247,525,730 total · filing declares 43 positions · $252,139,573 · as of Jun 30, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
BRK-B	Berkshire Hathaway Inc Financial Services	Reduced	39,338	-2,665	$50,366,675	+1.6%	20.35%
GOOGL	Alphabet Inc. Communication Services	Added	41,840	+1,174	$14,786,538	+26.7%	5.97%
COST	Costco Wholesale Corp /New Consumer Defensive	Added	14,183	+98	$13,267,771	−5.5%	5.36%
PM	Philip Morris International Inc. Consumer Defensive	Reduced	71,834	-249	$12,995,488	+9.0%	5.25%
KO	Coca Cola Co Consumer Defensive	Added	154,028	+372	$12,517,855	+7.1%	5.06%
JNJ	Johnson & Johnson Healthcare	Added	45,099	+37	$11,453,793	+4.0%	4.63%
FNV	FRANCO NEVADA Corp Basic Materials	Added	48,444	+1,218	$10,097,667	−13.5%	4.08%
ABBV	AbbVie Inc. Healthcare	Added	40,013	+7	$10,068,871	+15.7%	4.07%
MCD	Mcdonalds Corp Consumer Cyclical	Added	35,234	+130	$9,524,102	−12.7%	3.85%
PEP	Pepsico Inc Consumer Defensive	Added	68,143	+1,651	$9,226,562	−10.6%	3.73%
ENB	Enbridge Inc Energy	Added	161,690	+1,034	$8,765,214	+0.8%	3.54%
MO	Altria Group, Inc. Consumer Defensive	Reduced	113,040	-294	$8,133,228	+8.7%	3.29%
PG	PROCTER & GAMBLE Co Consumer Defensive	Reduced	53,101	-373	$7,786,730	+0.8%	3.15%
AXP	American Express Co Financial Services	Added	20,835	+239	$7,047,438	+13.1%	2.85%
WMT	Walmart Inc. Consumer Defensive	Reduced	57,724	-292	$6,537,820	−9.3%	2.64%
AAPL	Apple Inc. Technology	Added	22,289	+218	$6,449,545	+15.1%	2.61%
EPD	Enterprise Products Partners L.P. Energy	Added	138,729	+1,676	$5,099,678	−1.7%	2.06%
ADI	Analog Devices Inc Technology	Held	11,731	0	$4,659,201	+24.8%	1.88%
ABT	Abbott Laboratories Healthcare	Reduced	43,797	-225	$3,974,139	−12.1%	1.61%
UNP	Union Pacific Corp Industrials	Added	13,053	+538	$3,550,416	+16.9%	1.43%
O	Realty Income Corp Real Estate	Added	54,267	+1,313	$3,362,383	+3.8%	1.36%
VRSK	Verisk Analytics, Inc. Industrials	Added	17,641	+5,883	$3,167,088	+42.0%	1.28%
V	Visa Inc. Financial Services	Added	8,478	+955	$2,908,717	+27.9%	1.18%
GPC	Genuine Parts Co Consumer Cyclical	Added	23,654	+1	$2,790,698	+11.6%	1.13%
ORLY	O Reilly Automotive Inc Consumer Cyclical	Added	29,674	+210	$2,732,678	+0.5%	1.10%
NSC	Norfolk Southern Corp Industrials	Held	7,454	0	$2,344,953	+9.6%	0.95%
YUM	Yum Brands Inc Consumer Cyclical	Added	10,693	+376	$1,709,382	+6.6%	0.69%
QSR	Restaurant Brands International Inc. Consumer Cyclical	Added	23,563	+5,566	$1,708,553	+28.5%	0.69%
HSY	Hershey Co Consumer Defensive	Added	9,378	+91	$1,645,370	−14.8%	0.66%
PGR	Progressive Corp/Oh/ Financial Services	Added	6,093	+50	$1,331,015	+11.1%	0.54%
SHW	Sherwin Williams Co Basic Materials	Held	3,731	0	$1,284,657	+7.4%	0.52%
WFC	Wells Fargo & Company/Mn Financial Services	Reduced	14,953	-34	$1,235,715	+3.6%	0.50%
NVS	Novartis AG Healthcare	Added	6,891	+57	$1,079,957	+3.5%	0.44%
EXPD	Expeditors International Of Washington Inc Industrials	Held	6,485	0	$1,056,925	+13.8%	0.43%
DEO	Diageo PLC Consumer Defensive	Reduced	9,194	-250	$739,013	+5.1%	0.30%
WEC	Wec Energy Group, Inc. Utilities	Held	5,336	0	$623,084	+0.9%	0.25%
OKE	Oneok Inc /New/ Energy	Held	6,962	0	$605,276	−3.8%	0.24%
MCO	Moodys Corp /De/ Financial Services	Held	945	0	$428,009	+3.8%	0.17%
UPS	United Parcel Service Inc Industrials	Reduced	2,411	-33	$259,182	+7.8%	0.10%
GLW	Corning Inc /Ny Technology	NEW	800	NEW	$204,344	NEW	0.08%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.