Institutions / HUTNER CAPITAL MANAGEMENT INC / Holdings

Hutner Capital Management Inc

All holdings · as of Dec 31, 2025

Company	Class	Value	Shares	% of portfolio
Alphabet Inc.	—	$248.7K	794	0.1%
American Tower Corp	—	$257.7K	1,468	0.1%
Zoetis Inc Cl A	—	$343.4K	2,729	0.1%
United Parcel Service Inc	—	$430.5K	4,340	0.2%
Moody's Corp	—	$482.8K	945	0.2%
ONEOK Inc	—	$511.7K	6,962	0.2%
WEC ENERGY GROUP, INC.	—	$564.8K	5,356	0.2%
Novartis International AG ADR	—	$941.9K	6,832	0.4%
EXPEDITORS INTERNATIONAL OF WASHINGTON INC	—	$967.4K	6,492	0.4%
SHERWIN WILLIAMS CO	—	$1.17M	3,605	0.5%
Restaurant Brands International Inc.QSR	Common Stock	$1.21M	17,788	0.5%
PROGRESSIVE CORP/OH	—	$1.38M	6,039	0.6%
WELLS FARGO & COMPANY/MN	—	$1.41M	15,087	0.6%
Diageo PLC Sponsored ADR	—	$1.43M	16,606	0.6%
Yum! Brands Inc	—	$1.48M	9,801	0.6%
HERSHEY CO	—	$1.69M	9,284	0.7%
NORFOLK SOUTHERN CORP	—	$2.15M	7,454	0.9%
Visa Inc	—	$2.43M	6,923	1.0%
Verisk Analytics, Inc.	—	$2.51M	11,200	1.0%
O REILLY AUTOMOTIVE INC	—	$2.68M	29,395	1.1%
Union Pacific Corp	—	$2.84M	12,276	1.2%
REALTY INCOME CORP	—	$2.91M	51,541	1.2%
GENUINE PARTS CO	—	$3.08M	25,028	1.3%
ANALOG DEVICES INC	—	$3.18M	11,741	1.3%
Chubb Limited	—	$3.52M	11,278	1.5%
ENTERPRISE PRODUCTS PARTNERS L.P.EPD	MLP	$4.39M	137,053	1.8%
ABBOTT LABORATORIES	—	$5.51M	43,996	2.3%
Apple Inc.	—	$6.00M	22,085	2.5%
Walmart Inc.	—	$6.48M	58,185	2.7%
ALTRIA GROUP, INC.	—	$6.55M	113,534	2.7%
AMERICAN EXPRESS CO	—	$7.55M	20,409	3.2%
Enbridge Inc	—	$7.64M	159,798	3.2%
PROCTER & GAMBLE Co	—	$7.71M	53,814	3.2%
JOHNSON & JOHNSON	—	$9.36M	45,214	3.9%
PEPSICO INC	—	$9.36M	65,214	3.9%
AbbVie Inc.	—	$9.57M	41,872	4.0%
Franco-Nevada Corp	—	$9.79M	47,233	4.1%
MCDONALD'S CORP	—	$10.68M	34,955	4.5%
COCA COLA CO	—	$10.76M	153,961	4.5%
Philip Morris International Inc.	—	$11.81M	73,603	4.9%
COSTCO WHOLESALE CORP /NEW	—	$12.15M	14,094	5.1%
Alphabet Inc.	—	$12.44M	39,654	5.2%
Warren E. Buffett	—	$21.07M	41,919	8.8%
Berkshire Hathaway Inc Cl A	—	$30.95M	41	12.9%