HUTNER CAPITAL MANAGEMENT INC

Q3 2025 13F-HR Holdings

Location
Manchester, VT
Holdings as of
9/30/2025
Date filed
11/13/2025
Form type
13F-HR
Num holdings
44
Total value ($000)
$236,399
Net value change ($000)
+16,555 (7.5%)
New positions
0
Sold out positions
0
Turnover %
0.0%
Sector allocation + QoQ delta (equities-only)
Prev filing: 8/13/2025 Next filing: 2/17/2026 SEC filing

Snapshot: Change Analysis

Compared to Q2 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
FNV 3,049 41.3%
GOOGL 2,787 40.5%
ABBV 1,963 25.2%
JNJ 1,677 25.8%
PEP 1,517 20.9%
AAPL 1,509 36.6%
BRK-B 1,153 5.7%
ENB 1,114 16.6%
MO 1,040 16.0%
GPC 707 25.8%
Top Reduces (Value $000, Stocks/ETFs)
PM -1,394 -10.4%
COST -948 -6.7%
VRSK -672 -19.3%
KO -533 -4.9%
OKE -460 -28.2%
PG -192 -2.3%
DEO -91 -5.4%
UPS -77 -17.3%
PGR -61 -4.3%
AMT -50 -14.7%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type