UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F COVER PAGE
OMB APPROVAL
OMB Number:3235-0006
Expires:July 31, 2015
Estimated average burden
hours per response:23.8
Report for the Calendar Year or Quarter Ended:
12-31-2022
Check here if Amendment: ☐ Amendment Number:
This Amendment (Check only one.):☐ is a restatement.
☐ adds new holdings entries.

Institutional Investment Manager Filing this Report:

Name:
HUTNER CAPITAL MANAGEMENT INC
Address:
3546 MAIN STREET BOX 379
MANCHESTER, VT 05254
Form 13F File Number:
028-17568

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.


Person Signing this Report on Behalf of Reporting Manager:
Name:
Daniel E. Hutner, Jr.
Title:
Vice President and Chief Compliance Officer
Phone:
8023668157


Signature, Place, and Date of Signing:

Daniel E. Hutner, Jr.
                         [Signature]
Burlington, VERMONT
                 [City, State]
02-14-2023
                           [Date]
                          

Report Type (Check only one.):

☒ 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) 

☐ 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) 

☐ 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)


Form 13F Summary Page

Report Summary:

Number of Other Included Managers:
0
Form 13F Information table Entry Total:
44
Form 13F Information table Value Total:
161448752
          (thousands)

List of Other Included Managers:

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.
[If there are no entries in this list, state "NONE" and omit the column headings and list entries.]

  
NONE


UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number:3235-0006
Expires:July 31, 2015
Estimated average burden
hours per response:23.8
COLUMN 1COLUMN 2COLUMN 3COLUMN 4COLUMN 5COLUMN 6COLUMN 7COLUMN 8
VALUESHRS ORSH/PUT/INVESTMENTOTHERVOTING AUTHORITY
NAME OF ISSUERTITLE OF CLASSCUSIP(x$1000)PRN AMTPRNCALLDISCRETIONMANAGERSOLESHAREDNONE
AbbVie IncCOM00287Y1096,493,82940,182SHSOLE32,623 0 7,559
Abbott LabsCOM0028241004,919,32944,807SHSOLE38,322 0 6,484
Activision Blizzard IncCOM00507V109548,8647,170SHSOLE6,075 0 1,095
Alphabet Inc Class CCOM02079K107533,5336,013SHSOLE4,468 0 1,545
Altria Group IncCOM02209S1034,874,787106,646SHSOLE87,527 0 19,119
American Express CompanyCOM0258161093,453,68023,375SHSOLE19,231 0 4,144
American Tower Systems Corp ClCOM03027X1001,165,6875,502SHSOLE4,007 0 1,495
Analog Devices IncCOM0326541051,403,0978,554SHSOLE6,648 0 1,906
Apple IncCOM0378331001,796,33513,825SHSOLE8,459 0 5,366
Berkshire Hathaway Inc Cl ACOM08467010825,310,39254SHSOLE46 0 8
Berkshire Hathaway Inc Cl BCOM08467070210,059,13632,564SHSOLE26,071 0 6,493
Coca-Cola CompanyCOM1912161008,835,820138,906SHSOLE115,574 0 23,332
Costco Whsl CorpCOM22160K1057,628,58916,711SHSOLE13,654 0 3,057
Enbridge IncCOM29250N1054,363,173111,701SHSOLE83,864 0 27,837
Enterprise Prods Partners LPCOM2937921072,190,77190,828SHSOLE67,313 0 23,515
Expeditors InternationalCOM302130109822,0887,911SHSOLE6,850 0 1,061
Franco-Nevada CorpCOM3518581053,862,01428,297SHSOLE21,790 0 6,507
Genuine Parts CoCOM3724601054,049,69223,340SHSOLE18,448 0 4,892
Hershey CompanyCOM4278661081,925,7308,316SHSOLE7,037 0 1,279
Johnson & JohnsonCOM4781601048,007,16645,328SHSOLE37,596 0 7,732
Kraft Heinz CoCOM5007541061,119,08327,489SHSOLE24,615 0 2,874
Magellan Midstream Partners LPCOM559080106851,11016,951SHSOLE15,511 0 1,440
McDonald's CorpCOM5801351018,189,81331,077SHSOLE26,002 0 5,075
Mondelez International IncCOM609207105277,5974,165SHSOLE3,437 0 728
Moody's CorpCOM615369105275,834990SHSOLE990 0 0
Norfolk Southern CorpCOM6558441082,757,67511,191SHSOLE9,884 0 1,307
O'Reilly Automotive IncCOM67103H1071,179,1101,397SHSOLE819 0 578
PepsiCo IncCOM7134481088,725,09348,296SHSOLE39,905 0 8,391
Philip Morris International InCOM7181721097,597,02975,062SHSOLE61,048 0 14,014
Procter & Gamble CoCOM7427181098,237,10954,349SHSOLE45,562 0 8,787
Realty Income CorpCOM7561091042,037,56232,123SHSOLE25,233 0 6,890
Restaurant Brands InternationaCOM76131D1031,407,83021,769SHSOLE17,894 0 3,875
Sherwin-Williams Co.COM824348106457,5881,928SHSOLE1,295 0 633
Union Pacific CorpCOM9078181081,969,1639,510SHSOLE6,765 0 2,745
United Parcel Svc Inc Cl BCOM9113121061,564,1978,998SHSOLE7,137 0 1,861
UnitedHealth Group IncCOM91324P102229,038432SHSOLE32 0 400
Verisk AnalyticsCOM92345Y1062,364,02813,400SHSOLE11,795 0 1,605
Verizon Communications IncCOM92343V104288,3337,318SHSOLE3,765 0 3,553
WEC Energy Group IncCOM92939U106356,9443,807SHSOLE3,807 0 0
Walmart IncCOM9311421033,377,00823,817SHSOLE19,882 0 3,935
Wells Fargo & CoCOM949746101678,58416,435SHSOLE14,434 0 2,001
Yum Brands IncCOM988498101632,6824,940SHSOLE4,075 0 865
Diageo PLC Sponsored ADRADR25243Q2054,415,07924,777SHSOLE20,867 0 3,910
Novartis International AG ADRADR66987V109217,5512,398SHSOLE1,493 0 905