HUTNER CAPITAL MANAGEMENT INC

PrivateCIK: 944733

Location

MANCHESTER, VT

Positions

$243.42M

Total AUM (reported)

1.44M

Total Shares

Allocation by class

COM$241.67M99.3%

ADR$1.75M0.7%

Portfolio Concentration

Top 3$63.59M26.1%

4–10$78.96M32.4%

11–25$80.44M33.0%

Rest$20.44M8.4%

Top 3 weight

26.1%

Top 10 weight

58.6%

Voting Authority Distribution

Total shares with voting rights: 1.44M

Sole

Full voting authority

1.21M

% of voting shares84.1%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

228.15K

% of voting shares15.9%

Investment Discretion (by position count)

Sole44

Shared0

Other0

Dominant voting typeSole · 84.1% of voting shares

Institutional Holdings44

Rows:

Berkshire Hathaway Inc Cl A

SOLE

COM

Shares41.00

TypeSH

Market value$29.44M

12.10%

Sole

34.00

Shared

0.00

None

7.00

Berkshire Hathaway Inc Cl B

SOLE

COM

Shares41.96K

TypeSH

Market value$20.11M

8.26%

Sole

37.05K

Shared

0.00

None

4.92K

Costco Whsl Corp

SOLE

COM

Shares14.09K

TypeSH

Market value$14.03M

5.77%

Sole

11.57K

Shared

0.00

None

2.51K

Philip Morris International In

SOLE

COM

Shares72.08K

TypeSH

Market value$11.92M

4.90%

Sole

60.36K

Shared

0.00

None

11.72K

Coca-Cola Company

SOLE

COM

Shares153.66K

TypeSH

Market value$11.69M

4.80%

Sole

132.83K

Shared

0.00

None

20.83K

Franco-Nevada Corp

SOLE

COM

Shares47.23K

TypeSH

Market value$11.67M

4.79%

Sole

39.49K

Shared

0.00

None

7.73K

Alphabet Inc Class C

SOLE

COM

Shares39.87K

TypeSH

Market value$11.44M

4.70%

Sole

33.84K

Shared

0.00

None

6.03K

Johnson & Johnson

SOLE

COM

Shares45.06K

TypeSH

Market value$11.02M

4.53%

Sole

39.40K

Shared

0.00

None

5.66K

McDonald's Corp

SOLE

COM

Shares35.10K

TypeSH

Market value$10.91M

4.48%

Sole

30.60K

Shared

0.00

None

4.50K

PepsiCo Inc

SOLE

COM

Shares66.49K

TypeSH

Market value$10.33M

4.24%

Sole

56.53K

Shared

0.00

None

9.96K

AbbVie Inc

SOLE

COM

Shares40.01K

TypeSH

Market value$8.70M

3.57%

Sole

33.89K

Shared

0.00

None

6.12K

Enbridge Inc

SOLE

COM

Shares160.66K

TypeSH

Market value$8.70M

3.57%

Sole

131.07K

Shared

0.00

None

29.58K

Procter & Gamble Co

SOLE

COM

Shares53.47K

TypeSH

Market value$7.72M

3.17%

Sole

46.92K

Shared

0.00

None

6.56K

Altria Group Inc

SOLE

COM

Shares113.33K

TypeSH

Market value$7.48M

3.07%

Sole

95.18K

Shared

0.00

None

18.16K

Walmart Inc

SOLE

COM

Shares58.02K

TypeSH

Market value$7.21M

2.96%

Sole

49.34K

Shared

0.00

None

8.67K

American Express Company

SOLE

COM

Shares20.60K

TypeSH

Market value$6.23M

2.56%

Sole

17.40K

Shared

0.00

None

3.19K

Apple Inc

SOLE

COM

Shares22.07K

TypeSH

Market value$5.60M

2.30%

Sole

15.99K

Shared

0.00

None

6.08K

Enterprise Prods Partners LP

SOLE

COM

Shares137.05K

TypeSH

Market value$5.19M

2.13%

Sole

110.58K

Shared

0.00

None

26.47K

Abbott Labs

SOLE

COM

Shares44.02K

TypeSH

Market value$4.52M

1.86%

Sole

39.15K

Shared

0.00

None

4.87K

Chubb Limited

SOLE

COM

Shares11.84K

TypeSH

Market value$3.86M

1.59%

Sole

10.27K

Shared

0.00

None

1.57K

Analog Devices Inc

SOLE

COM

Shares11.73K

TypeSH

Market value$3.73M

1.53%

Sole

9.40K

Shared

0.00

None

2.33K

Realty Income Corp

SOLE

COM

Shares52.95K

TypeSH

Market value$3.24M

1.33%

Sole

43.53K

Shared

0.00

None

9.42K

Union Pacific Corp

SOLE

COM

Shares12.52K

TypeSH

Market value$3.04M

1.25%

Sole

9.44K

Shared

0.00

None

3.07K

O'Reilly Automotive Inc

SOLE

COM

Shares29.46K

TypeSH

Market value$2.72M

1.12%

Sole

21.92K

Shared

0.00

None

7.54K

Genuine Parts Co

SOLE

COM

Shares23.65K

TypeSH

Market value$2.50M

1.03%

Sole

19.35K

Shared

0.00

None

4.30K

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole	None
Berkshire Hathaway Inc Cl ASOLE	COM	41.00	SH	$29.44M 12.10%	34.00	7.00
Berkshire Hathaway Inc Cl BSOLE	COM	41.96K	SH	$20.11M 8.26%	37.05K	4.92K
Costco Whsl CorpSOLE	COM	14.09K	SH	$14.03M 5.77%	11.57K	2.51K
Philip Morris International InSOLE	COM	72.08K	SH	$11.92M 4.90%	60.36K	11.72K
Coca-Cola CompanySOLE	COM	153.66K	SH	$11.69M 4.80%	132.83K	20.83K
Franco-Nevada CorpSOLE	COM	47.23K	SH	$11.67M 4.79%	39.49K	7.73K
Alphabet Inc Class CSOLE	COM	39.87K	SH	$11.44M 4.70%	33.84K	6.03K
Johnson & JohnsonSOLE	COM	45.06K	SH	$11.02M 4.53%	39.40K	5.66K
McDonald's CorpSOLE	COM	35.10K	SH	$10.91M 4.48%	30.60K	4.50K
PepsiCo IncSOLE	COM	66.49K	SH	$10.33M 4.24%	56.53K	9.96K
AbbVie IncSOLE	COM	40.01K	SH	$8.70M 3.57%	33.89K	6.12K
Enbridge IncSOLE	COM	160.66K	SH	$8.70M 3.57%	131.07K	29.58K
Procter & Gamble CoSOLE	COM	53.47K	SH	$7.72M 3.17%	46.92K	6.56K
Altria Group IncSOLE	COM	113.33K	SH	$7.48M 3.07%	95.18K	18.16K
Walmart IncSOLE	COM	58.02K	SH	$7.21M 2.96%	49.34K	8.67K
American Express CompanySOLE	COM	20.60K	SH	$6.23M 2.56%	17.40K	3.19K
Apple IncSOLE	COM	22.07K	SH	$5.60M 2.30%	15.99K	6.08K
Enterprise Prods Partners LPSOLE	COM	137.05K	SH	$5.19M 2.13%	110.58K	26.47K
Abbott LabsSOLE	COM	44.02K	SH	$4.52M 1.86%	39.15K	4.87K
Chubb LimitedSOLE	COM	11.84K	SH	$3.86M 1.59%	10.27K	1.57K
Analog Devices IncSOLE	COM	11.73K	SH	$3.73M 1.53%	9.40K	2.33K
Realty Income CorpSOLE	COM	52.95K	SH	$3.24M 1.33%	43.53K	9.42K
Union Pacific CorpSOLE	COM	12.52K	SH	$3.04M 1.25%	9.44K	3.07K
O'Reilly Automotive IncSOLE	COM	29.46K	SH	$2.72M 1.12%	21.92K	7.54K
Genuine Parts CoSOLE	COM	23.65K	SH	$2.50M 1.03%	19.35K	4.30K

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