HUTNER CAPITAL MANAGEMENT INC

RIA/Wealth

HUTNER CAPITAL MANAGEMENT INC is a RIA/Wealth based in Manchester, VT led by Daniel Ellsworth Hutner, reporting $270.7M in AUM as of Q3 2025 with 58% concentrated in top 10 holdings.

PresidentDaniel Ellsworth Hutner

Portfolio Value: $236.4M
Positions: 44
Top Holding: BRK.A at 13.08%
Last Reported: Q3 2025

Address3546 Main Street, Manchester, VT, 05254, United States

Top Holdings

Largest long holdings in HUTNER CAPITAL MANAGEMENT INC's portfolio (57.8% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Berkshire Hathaway BRK.A	Insurance - Diversified Financial Services	$30.9M	13.08%	-$754.2K Sold	0.00% 41.0 shares	Q4 2019 Held for 5y 11m
2 Berkshire Hathaway BRK.B	Insurance - Diversified Financial Services	$21.2M	8.97%	+$452.5K Bought	0.00% 42.2K shares	Q4 2019 Held for 5y 11m
3 Costco Wholesale COST	Discount Stores Consumer Defensive	$13.1M	5.56%	-$33.3K Sold	0.00% 14.2K shares	Q3 2016 Held for 9y 2m
4 Philip Morris International PM	Tobacco Consumer Defensive	$12.0M	5.08%	+$73.2K Bought	0.00% 74.1K shares	Q3 2016 Held for 9y 2m
5 McDonald's MCD	Restaurants Consumer Cyclical	$10.5M	4.45%	+$90.0K Bought	0.00% 34.6K shares	Q3 2016 Held for 9y 2m
6 Franco-Nevada FNV	Gold Basic Materials	$10.4M	4.41%	+$395.0K Bought	0.02% 46.8K shares	Q4 2018 Held for 6y 11m
7 Coca-Cola KO	Beverages - Non-Alcoholic Consumer Defensive	$10.3M	4.35%	+$145.3K Bought	0.00% 155.2K shares	Q3 2016 Held for 9y 2m
8 AbbVie ABBV	Drug Manufacturers - General Healthcare	$9.8M	4.13%	+$36.1K Bought	0.00% 42.1K shares	Q3 2016 Held for 9y 2m
9 Alphabet Inc. GOOG	Internet Content & Information Communication Services	$9.7M	4.09%	+$220.7K Bought	0.00% 39.7K shares	Q3 2020 Held for 5y 2m
10 PepsiCo PEP	Beverages - Non-Alcoholic Consumer Defensive	$8.8M	3.71%	+$1.1M Bought	0.00% 62.5K shares	Q3 2016 Held for 9y 2m

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in HUTNER CAPITAL MANAGEMENT INC's latest filing

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Market Value

$236.4M

Prior: $219.8M

Q/Q Change

+7.53%

+$16.6M

Net Flows % of MV

+2.16%

Turnover Ratio

1.54%

New Purchases

0 stocks

Added To

29 stocks

+$6.2M

Sold Out Of

0 stocks

Reduced Holdings

10 stocks

-$1.1M

Increased Positions

Position	Shares Δ	Change
1 Zoetis ZTS	+38.04%	2.0K → 2.7K +$110.0K
2 Yum! Brands YUM	+21.81%	6.3K → 7.7K +$209.6K
3 Visa V	+15.83%	4.3K → 5.0K +$234.2K
4 Sherwin-Williams SHW	+14.59%	2.7K → 3.1K +$137.1K
5 PepsiCo PEP	+13.68%	55.0K → 62.5K +$1.1M

Decreased Positions

Position	Shares Δ	Change
1 Oneok OKE	-19.7%	20.0K → 16.0K −$287.3K
2 Berkshire Hathaway BRK.A	-2.38%	42.0 → 41.0 −$754.2K
3 American Tower AMT	-1.82%	1.5K → 1.5K −$5.4K
4 Restaurant Brands International QSR	-1.05%	16.0K → 15.8K −$10.8K
5 United Parcel Service, Inc. UPS	-0.34%	4.4K → 4.4K −$1.3K