HUTNER CAPITAL MANAGEMENT INC
Sector Allocation
- Consumer Staples28.9%$72.8M
- Financials26.9%$67.9M
- Technology11.5%$29.1M
- Healthcare10.5%$26.6M
- Consumer Discretionary7.3%$18.5M
- Energy5.7%$14.5M
- Materials4.6%$11.6M
- Industrials2.9%$7.2M
- Real Estate1.3%$3.4M
- Utilities0.3%$623,085
AUM History
13fpro.ai/research/fund/hutner-capital-management-inc-944733
Conviction and streaks
Diversifying · top 10 = 57.4%From the fund's last 12 quarters of 13F filings: positions held longest at size, and names it added to or trimmed several quarters running.
Largest positions — Q2 2026
BRK.A
$30.7MBRK.B
$19.7MGOOG
$14.5MCOST
$13.3MPM
$13.0MKO
$12.5MJNJ
$11.5MFNV
$10.1MABBV
$10.1MMCD
$9.5MPEP
$9.2MENB
$8.8MMO
$8.1MPG
$7.8MAXP
$7.0MWMT
$6.5MAAPL
$6.4MEPD
$5.1MADI
$4.7MCB
$4.6M
Top 20 stock positions. Options are left out: 13F reports them at the underlying's value.
13fpro.ai/research/fund/hutner-capital-management-inc-944733
HUTNER CAPITAL MANAGEMENT INC 13F holdings — Q2 2026
$252.1M portfolio (+3.6% QoQ) · 43 holdings · Q2 2026 13F · top 10 are 57% of the stock portfolio
$30.7M
12.2% of stocks
No changeThis quarter—Since filed7+ qtrsHeld$19.7M
7.8% of stocks
-6%This quarter—Since filed7+ qtrsHeld$14.5M
5.8% of stocks
+3%This quarter-8.5%Since filed7+ qtrsHeld$13.3M
5.3% of stocks
+0.7%This quarter+4.6%Since filed7+ qtrsHeld$13.0M
5.2% of stocks
-0.3%This quarter+6.0%Since filed7+ qtrsHeld$12.5M
5.0% of stocks
+0.2%This quarter+5.7%Since filed7+ qtrsHeld$11.5M
4.5% of stocks
+0.1%This quarter+2.3%Since filed7+ qtrsHeld$10.1M
4.0% of stocks
+3%This quarter-1.5%Since filed7+ qtrsHeld$10.1M
4.0% of stocks
+0.0%This quarter+14.9%Since filed7+ qtrsHeld$9.5M
3.8% of stocks
+0.4%This quarter-8.1%Since filed7+ qtrsHeld
All holdings — HUTNER CAPITAL MANAGEMENT INC (Q2 2026)
43 disclosed positions from the Form 13F-HR on SEC EDGAR, with quarter-over-quarter share changes. Largest by value first; the ten above are not repeated.
| # | Company | Held | Source | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 11 | PEPSICO INC | Consumer Staples | $9.2M | 3.7% | 68K | +2% | 7+ qtrsAdded 4 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 12 | ENBRIDGE INC | Energy | $8.8M | 3.5% | 162K | +0.6% | 7+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 13 | ALTRIA GROUP, INC. | Consumer Staples | $8.1M | 3.2% | 113K | -0.3% | 7+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 14 | PROCTER & GAMBLE Co | Consumer Staples | $7.8M | 3.1% | 53K | -0.7% | 7+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 15 | AMERICAN EXPRESS CO | Financials | $7.0M | 2.8% | 21K | +1% | 7+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 16 | Walmart Inc. | Consumer Staples | $6.5M | 2.6% | 58K | -0.5% | 7+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 17 | Apple Inc. | Technology | $6.4M | 2.6% | 22K | +1.0% | 7+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 18 | ENTERPRISE PRODUCTS PARTNERS L.P. | Energy | $5.1M | 2.0% | 139K | +1% | 7+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 19 | ANALOG DEVICES INC | Technology | $4.7M | 1.9% | 12K | — | 7+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 20 | Chubb Ltd | Financials | $4.6M | 1.8% | 14K | +14% | 7+ qtrsAdded 6 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 21 | ABBOTT LABORATORIES | Healthcare | $4.0M | 1.6% | 44K | -0.5% | 7+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 22 | UNION PACIFIC CORP | Industrials | $3.6M | 1.4% | 13K | +4% | 7+ qtrsAdded 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 23 | REALTY INCOME CORP | Real Estate | $3.4M | 1.3% | 54K | +2% | 7+ qtrsAdded 4 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 24 | Verisk Analytics, Inc. | Technology | $3.2M | 1.3% | 18K | +50% | 7+ qtrsAdded 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 25 | VISA INC. | Financials | $2.9M | 1.1% | 8,478 | +13% | 6 qtrsAdded 6 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 26 | $GPC | GENUINE PARTS CO | Consumer Discretionary | $2.8M | 1.1% | 24K | +0.0% | |||
| 27 | $ORLY | O REILLY AUTOMOTIVE INC | Consumer Discretionary | $2.7M | 1.1% | 30K | +0.7% | |||
| 28 | $NSC | NORFOLK SOUTHERN CORP | Industrials | $2.3M | 0.9% | 7,454 | — | |||
| 29 | $YUM | YUM BRANDS INC | Consumer Discretionary | $1.7M | 0.7% | 11K | +4% | |||
| 30 | $QSR | Restaurant Brands International Inc. | Consumer Discretionary | $1.7M | 0.7% | 24K | +31% | |||
| 31 | $HSY | HERSHEY CO | Consumer Staples | $1.6M | 0.7% | 9,378 | +1.0% | |||
| 32 | $PGR | PROGRESSIVE CORP/OH/ | Financials | $1.3M | 0.5% | 6,093 | +0.8% | |||
| 33 | $SHW | SHERWIN WILLIAMS CO | Materials | $1.3M | 0.5% | 3,731 | — | |||
| 34 | $WFC | WELLS FARGO & COMPANY/MN | Financials | $1.2M | 0.5% | 15K | -0.2% | |||
| 35 | $NVS | NOVARTIS AG | Healthcare | $1.1M | 0.4% | 6,891 | +0.8% | |||
| 36 | $EXPD | EXPEDITORS INTERNATIONAL OF WASHINGTON INC | Industrials | $1.1M | 0.4% | 6,485 | — | |||
| 37 | $DEO | DIAGEO PLC | Consumer Staples | $739K | 0.3% | 9,194 | -3% | |||
| 38 | $WEC | WEC ENERGY GROUP, INC. | Utilities | $623K | 0.3% | 5,336 | — | |||
| 39 | $OKE | ONEOK INC /NEW/ | Energy | $605K | 0.2% | 6,962 | — | |||
| 40 | $MCO | MOODYS CORP /DE/ | Financials | $428K | 0.2% | 945 | — | |||
| 41 | $GOOGL | Alphabet Inc. | Technology | $284K | 0.1% | 795 | +0.1% | |||
| 42 | $UPS | UNITED PARCEL SERVICE INC | Industrials | $259K | 0.1% | 2,411 | -1% | |||
| 43 | $GLW | CORNING INC /NY | Materials | $204K | 0.1% | 800 | New |
What changed in Q2 2026
Against the previous quarter's 13F: 1 new, 25 added to, 9 trimmed, 2 sold out. Share-count changes; largest moves by dollar size first.
New positions (1)
$GLWCORNING INC /NY$204K
first bought this quarter
Added to (25)
$VRSKVerisk Analytics, Inc.+50%
now $3.2M · held 7+ qtrs, 2 adds in a row
now $4.6M · held 7+ qtrs, 6 adds in a row
now $14.5M · held 7+ qtrs
$QSRRestaurant Brands International Inc.+31%
now $1.7M · held 7+ qtrs, 3 adds in a row
$VVISA INC.+13%
now $2.9M · held 6 qtrs, 6 adds in a row
now $10.1M · held 7+ qtrs
+19 more in the Excel export
Trimmed (9)
now $19.7M · held 7+ qtrs
now $7.8M · held 7+ qtrs
now $13.0M · held 7+ qtrs
now $6.5M · held 7+ qtrs
now $8.1M · held 7+ qtrs
$ABTABBOTT LABORATORIES-0.5%
now $4.0M · held 7+ qtrs
+3 more in the Excel export
Holdings by quarter
Every 13F HUTNER CAPITAL MANAGEMENT INC has filed, 39 earlier quarters. Pick one to see what it held then.
Is it too late to follow HUTNER CAPITAL MANAGEMENT?
Q2 2026 13F filed with the SEC on Aug 14, 2026. Prices are closing prices as of Oct 26, 2026.
Average quality of HUTNER CAPITAL MANAGEMENT's top 20 holdings: 71/100 (our AI quality score, weighted by position size; 18 of the 20 are scored)
Top 10 since filing
+1.8%
Value-weighted move of the 10 largest stock positions
Turnover
1%
Last quarter; 3% over the last 4
Top 10 weight
57%
Share of the stock portfolio in its 10 largest positions
Held 4+ quarters
100%
Share of portfolio value in positions held a year or more
Highest-quality names it owns(among its 100 largest positions)
The 8 highest-scoring companies in this portfolio are a Pro feature.
How these are measured
- Moves since the quarter-end and since the filing date use our own daily closing prices, from the close on (or just before) each date to the latest close.
- Turnover is the lesser of shares bought or sold in a quarter, valued at the quarter-end prices in the 13F, divided by the average of the two quarters' stock portfolio values.
- Quarters held and add/trim streaks count back only through quarters whose filed holdings add up to the filing's own cover-page total (back to Q4 2024 for this fund). A change counts as an add or a trim when the split-adjusted share count moves by more than 1%.
- Estimate, not the fund's reported cost. For each quarter in the current holding period in which the fund's share count rose (split-adjusted), we take that quarter's average daily close and weight it by the shares added; sales do not change an average cost. Quarters where the stock's price history and the 13F's own implied price disagree by more than 2x are left out.
- Put and call option rows report the value of the underlying shares, not a position the fund paid for, so they are left out of all of the above.
Portfolio Overview
HUTNER CAPITAL MANAGEMENT INC disclosed 43 positions worth $252.1M in its Form 13F-HR for Q2 2026, led by $BRK.A (BERKSHIRE HATHAWAY INC) at 12.2% of the equity portfolio, followed by $BRK.B and $GOOG. During the quarter the fund opened 1 new position and exited 2 — including a new stake in $GLW and a full exit from $ZTS. The portfolio is most concentrated in Consumer Staples (28.9% of disclosed assets). All figures are sourced directly from HUTNER CAPITAL MANAGEMENT INC’s Form 13F-HR filing with the SEC under CIK 944733.
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