HUTNER CAPITAL MANAGEMENT INC Long-Term Concentrated

Location: Manchester, VT

CIK: 0000944733 · Show all filings

Period: Q1 2026 (← Previous) (Next →)

Filing Date: May 15, 2026

Total Value: $243M (100.0% shares, 0.0% debt)

Holdings (44)

BRK/A Berkshire Hathaway Inc Cl A 12.1%

Value $29.44M Shares 41 Est. Cost — Unrealized —

BRK/B Berkshire Hathaway Inc Cl B 8.3%

Value $20.11M Shares 41,962 Est. Cost — Unrealized —

COST Costco Whsl Corp 5.8%

Value $14.03M Shares 14,085 Est. Cost — Unrealized —

PM Philip Morris International In 4.9%

Value $11.92M Shares 72,083 Est. Cost — Unrealized —

KO Coca-Cola Company 4.8%

Value $11.69M Shares 153,656 Est. Cost — Unrealized —

FNV Franco-Nevada Corp 4.8%

Value $11.67M Shares 47,226 Est. Cost — Unrealized —

GOOG Alphabet Inc Class C 4.7%

Value $11.44M Shares 39,872 Est. Cost — Unrealized —

JNJ Johnson & Johnson 4.5%

Value $11.02M Shares 45,062 Est. Cost — Unrealized —

MCD McDonald's Corp 4.5%

Value $10.91M Shares 35,104 Est. Cost — Unrealized —

PEP PepsiCo Inc 4.2%

Value $10.33M Shares 66,492 Est. Cost — Unrealized —

ABBV AbbVie Inc 3.6%

Value $8.701M Shares 40,006 Est. Cost — Unrealized —

ENB Enbridge Inc 3.6%

Value $8.698M Shares 160,656 Est. Cost — Unrealized —

PG Procter & Gamble Co 3.2%

Value $7.724M Shares 53,474 Est. Cost — Unrealized —

MO Altria Group Inc 3.1%

Value $7.479M Shares 113,334 Est. Cost — Unrealized —

WMT Walmart Inc 3.0%

Value $7.21M Shares 58,016 Est. Cost — Unrealized —

AXP American Express Company 2.6%

Value $6.23M Shares 20,596 Est. Cost — Unrealized —

AAPL Apple Inc 2.3%

Value $5.601M Shares 22,071 Est. Cost — Unrealized —

EPD Enterprise Prods Partners LP 2.1%

Value $5.186M Shares 137,053 Est. Cost — Unrealized —

ABT Abbott Labs 1.9%

Value $4.52M Shares 44,022 Est. Cost — Unrealized —

— Chubb Limited 1.6%

Value $3.859M Shares 11,839 Est. Cost — Unrealized —

ADI Analog Devices Inc 1.5%

Value $3.732M Shares 11,731 Est. Cost — Unrealized —

O Realty Income Corp 1.3%

Value $3.24M Shares 52,954 Est. Cost — Unrealized —

UNP Union Pacific Corp 1.2%

Value $3.036M Shares 12,515 Est. Cost — Unrealized —

ORLY O'Reilly Automotive Inc 1.1%

Value $2.72M Shares 29,464 Est. Cost — Unrealized —

GPC Genuine Parts Co 1.0%

Value $2.501M Shares 23,653 Est. Cost — Unrealized —

V Visa Inc 0.9%

Value $2.274M Shares 7,523 Est. Cost — Unrealized —

VRSK Verisk Analytics 0.9%

Value $2.231M Shares 11,758 Est. Cost — Unrealized —

NSC Norfolk Southern Corp 0.9%

Value $2.139M Shares 7,454 Est. Cost — Unrealized —

HSY Hershey Company 0.8%

Value $1.931M Shares 9,287 Est. Cost — Unrealized —

YUM Yum Brands Inc 0.7%

Value $1.604M Shares 10,317 Est. Cost — Unrealized —

QSR Restaurant Brands Internationa 0.5%

Value $1.33M Shares 17,997 Est. Cost — Unrealized —

PGR Progressive Corp 0.5%

Value $1.198M Shares 6,043 Est. Cost — Unrealized —

SHW Sherwin-Williams Co. 0.5%

Value $1.196M Shares 3,731 Est. Cost — Unrealized —

WFC Wells Fargo & Co 0.5%

Value $1.193M Shares 14,987 Est. Cost — Unrealized —

NVS Novartis International AG ADR 0.4%

Value $1.044M Shares 6,834 Est. Cost — Unrealized —

EXPD Expeditors International 0.4%

Value $929K Shares 6,485 Est. Cost — Unrealized —

DEO Diageo PLC Sponsored ADR 0.3%

Value $703K Shares 9,444 Est. Cost — Unrealized —

OKE Oneok, Inc 0.3%

Value $629K Shares 6,962 Est. Cost — Unrealized —

WEC WEC Energy Group Inc 0.3%

Value $618K Shares 5,336 Est. Cost — Unrealized —

MCO Moody's Corp 0.2%

Value $412K Shares 945 Est. Cost — Unrealized —

— Zoetis Inc Cl A 0.1%

Value $323K Shares 2,729 Est. Cost — Unrealized —

UPS United Parcel Svc Inc Cl B 0.1%

Value $240K Shares 2,444 Est. Cost — Unrealized —

GOOGL Alphabet Inc Class A 0.1%

Value $228K Shares 794 Est. Cost — Unrealized —

AMT American Tower Systems Corp Cl 0.1%

Value $214K Shares 1,237 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
BRK/A	Berkshire Hathaway Inc Cl A	41	$29.44M	12.1%	—	—	COM	084670108
BRK/B	Berkshire Hathaway Inc Cl B	41,962	$20.11M	8.3%	—	—	COM	084670702
COST	Costco Whsl Corp	14,085	$14.03M	5.8%	—	—	COM	22160K105
PM	Philip Morris International In	72,083	$11.92M	4.9%	—	—	COM	718172109
KO	Coca-Cola Company	153,656	$11.69M	4.8%	—	—	COM	191216100
FNV	Franco-Nevada Corp	47,226	$11.67M	4.8%	—	—	COM	351858105
GOOG	Alphabet Inc Class C	39,872	$11.44M	4.7%	—	—	COM	02079K107
JNJ	Johnson & Johnson	45,062	$11.02M	4.5%	—	—	COM	478160104
MCD	McDonald's Corp	35,104	$10.91M	4.5%	—	—	COM	580135101
PEP	PepsiCo Inc	66,492	$10.33M	4.2%	—	—	COM	713448108
ABBV	AbbVie Inc	40,006	$8.701M	3.6%	—	—	COM	00287Y109
ENB	Enbridge Inc	160,656	$8.698M	3.6%	—	—	COM	29250N105
PG	Procter & Gamble Co	53,474	$7.724M	3.2%	—	—	COM	742718109
MO	Altria Group Inc	113,334	$7.479M	3.1%	—	—	COM	02209S103
WMT	Walmart Inc	58,016	$7.21M	3.0%	—	—	COM	931142103
AXP	American Express Company	20,596	$6.23M	2.6%	—	—	COM	025816109
AAPL	Apple Inc	22,071	$5.601M	2.3%	—	—	COM	037833100
EPD	Enterprise Prods Partners LP	137,053	$5.186M	2.1%	—	—	COM	293792107
ABT	Abbott Labs	44,022	$4.52M	1.9%	—	—	COM	002824100
—	Chubb Limited	11,839	$3.859M	1.6%	—	—	COM	h1467j104
ADI	Analog Devices Inc	11,731	$3.732M	1.5%	—	—	COM	032654105
O	Realty Income Corp	52,954	$3.24M	1.3%	—	—	COM	756109104
UNP	Union Pacific Corp	12,515	$3.036M	1.2%	—	—	COM	907818108
ORLY	O'Reilly Automotive Inc	29,464	$2.72M	1.1%	—	—	COM	67103H107
GPC	Genuine Parts Co	23,653	$2.501M	1.0%	—	—	COM	372460105
V	Visa Inc	7,523	$2.274M	0.9%	—	—	COM	92826C839
VRSK	Verisk Analytics	11,758	$2.231M	0.9%	—	—	COM	92345Y106
NSC	Norfolk Southern Corp	7,454	$2.139M	0.9%	—	—	COM	655844108
HSY	Hershey Company	9,287	$1.931M	0.8%	—	—	COM	427866108
YUM	Yum Brands Inc	10,317	$1.604M	0.7%	—	—	COM	988498101
QSR	Restaurant Brands Internationa	17,997	$1.33M	0.5%	—	—	COM	76131D103
PGR	Progressive Corp	6,043	$1.198M	0.5%	—	—	COM	743315103
SHW	Sherwin-Williams Co.	3,731	$1.196M	0.5%	—	—	COM	824348106
WFC	Wells Fargo & Co	14,987	$1.193M	0.5%	—	—	COM	949746101
NVS	Novartis International AG ADR	6,834	$1.044M	0.4%	—	—	ADR	66987V109
EXPD	Expeditors International	6,485	$929K	0.4%	—	—	COM	302130109
DEO	Diageo PLC Sponsored ADR	9,444	$703K	0.3%	—	—	ADR	25243Q205
OKE	Oneok, Inc	6,962	$629K	0.3%	—	—	COM	682680103
WEC	WEC Energy Group Inc	5,336	$618K	0.3%	—	—	COM	92939U106
MCO	Moody's Corp	945	$412K	0.2%	—	—	COM	615369105
—	Zoetis Inc Cl A	2,729	$323K	0.1%	—	—	COM	98978v103
UPS	United Parcel Svc Inc Cl B	2,444	$240K	0.1%	—	—	COM	911312106
GOOGL	Alphabet Inc Class A	794	$228K	0.1%	—	—	COM	02079K305
AMT	American Tower Systems Corp Cl	1,237	$214K	0.1%	—	—	COM	03027X100