13F HOLDINGS REPORT
Citadel Investment Advisory, Inc.
Quarter ended Q3 2025 · Filed October 21, 2025 · Accession 0001811907-25-000005
Total Value
$218,027
Positions
82
Other Managers
0
Confidential Omitted
No
Holdings (82)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | Beckshire Hathaway | BRK-A | 106,017 | $53,299 | 24.45% |
| 2 | Markel Corp | MKL | 15,519 | $29,662 | 13.60% |
| 3 | Alphabet Inc. Class A | GOOG | 48,749 | $11,851 | 5.44% |
| 4 | Microsoft Corp | MSFT | 14,927 | $7,726 | 3.54% |
| 5 | Imperial Metals Corp | 452892102 | 1,748,340 | $7,378 | 3.38% |
| 6 | Alphabet Inc. Class C | GOOG | 28,130 | $6,851 | 3.14% |
| 7 | Oracle Corp | ORCL-PD | 23,150 | $6,511 | 2.99% |
| 8 | Philip Morris Intl | 718172109 | 39,580 | $6,420 | 2.94% |
| 9 | IBM Corp | INTR | 17,185 | $4,849 | 2.22% |
| 10 | Raytheon Technologies Corp | RTX | 28,571 | $4,781 | 2.19% |
| 11 | Johnson & Johnson | JNJ | 23,446 | $4,347 | 1.99% |
| 12 | Abbvie Inc | ABBV | 18,291 | $4,235 | 1.94% |
| 13 | Moodys Corp | MCO | 7,702 | $3,670 | 1.68% |
| 14 | Goldman Sachs Group Inc. | GSCE | 4,262 | $3,394 | 1.56% |
| 15 | McDonald's | MCD | 10,526 | $3,199 | 1.47% |
| 16 | Booking Holdings Inc | BKNG | 587 | $3,169 | 1.45% |
| 17 | General Dynamics Corp | GD | 8,411 | $2,868 | 1.32% |
| 18 | JPMorgan Chase & Co | VYLD | 8,599 | $2,712 | 1.24% |
| 19 | Coca Cola Co | KO | 40,403 | $2,680 | 1.23% |
| 20 | Disney Company | 254687106 | 23,207 | $2,657 | 1.22% |
| 21 | Idexx Labs Inc | 45168D104 | 3,682 | $2,346 | 1.08% |
| 22 | PepsiCo | PEP | 15,968 | $2,243 | 1.03% |
| 23 | Mettler Toledo Intl | MTD | 1,710 | $2,099 | 0.96% |
| 24 | Medtronic | MDT | 21,946 | $2,090 | 0.96% |
| 25 | American Express | AXP | 6,032 | $2,004 | 0.92% |
| 26 | Wells Fargo | 949746101 | 20,341 | $1,705 | 0.78% |
| 27 | Mohawk Industries | 608190104 | 12,626 | $1,628 | 0.75% |
| 28 | Affiliated Managers | MGRE | 6,432 | $1,534 | 0.70% |
| 29 | CSX Corp | CSX | 40,810 | $1,449 | 0.66% |
| 30 | AB Inbev | BUDFF | 21,260 | $1,267 | 0.58% |
| 31 | Credit Acceptance Corp | 225310101 | 2,650 | $1,237 | 0.57% |
| 32 | Abbott Laboratories | ABLZF | 9,064 | $1,214 | 0.56% |
| 33 | Eaton Corp | ETN | 3,244 | $1,214 | 0.56% |
| 34 | Jefferies Financial | 47233W109 | 18,420 | $1,205 | 0.55% |
| 35 | Bank of America | 060505104 | 21,895 | $1,130 | 0.52% |
| 36 | Lowes | 548661107 | 4,420 | $1,111 | 0.51% |
| 37 | Berkley W R Corp | WRB-PH | 14,453 | $1,107 | 0.51% |
| 38 | Amazon | AMZN | 4,732 | $1,039 | 0.48% |
| 39 | Warner Brothers Discovery,inc | WBD | 52,612 | $1,028 | 0.47% |
| 40 | Howard Hughs | HHH | 11,792 | $969 | 0.44% |
| 41 | Danaher Corp | 235851102 | 4,348 | $862 | 0.40% |
| 42 | Sysco Corp | SYY | 10,188 | $839 | 0.38% |
| 43 | Leidos Holdings Inc | LDOS | 4,177 | $789 | 0.36% |
| 44 | Wynn Resorts | WYNN | 5,961 | $765 | 0.35% |
| 45 | John Marshall Bancorp | JMSB | 38,200 | $757 | 0.35% |
| 46 | Boeing Company | BA-PA | 3,495 | $754 | 0.35% |
| 47 | Everest Re Group Inc | EG | 2,127 | $745 | 0.34% |
| 48 | Canadian National Railway | 136375102 | 7,711 | $727 | 0.33% |
| 49 | Mastercard | MA | 1,155 | $657 | 0.30% |
| 50 | Proctor & Gamble Co | 742718109 | 4,012 | $616 | 0.28% |
| 51 | META | META | 790 | $580 | 0.27% |
| 52 | Vistaprint NV Cimpress | N93540107 | 8,575 | $541 | 0.25% |
| 53 | Comcast | CCZ | 16,230 | $510 | 0.23% |
| 54 | Fiserv Inc | FISV | 3,550 | $458 | 0.21% |
| 55 | ATT | T-PC | 14,531 | $410 | 0.19% |
| 56 | ESAB Corp | ESAB | 3,528 | $394 | 0.18% |
| 57 | Apple Inc | AAPL | 1,500 | $382 | 0.18% |
| 58 | Lincoln Electric Holdings | 533900106 | 1,571 | $370 | 0.17% |
| 59 | United Parcel Service Inc | UPS | 4,341 | $363 | 0.17% |
| 60 | SEI Investments | 784117103 | 3,940 | $334 | 0.15% |
| 61 | MSCI Inc | MSCI | 580 | $329 | 0.15% |
| 62 | Cigna Corp | 125523100 | 1,131 | $326 | 0.15% |
| 63 | Mondelez Intl Inc | 609207105 | 4,699 | $317 | 0.15% |
| 64 | Colgate Palmolive | CL | 3,797 | $304 | 0.14% |
| 65 | Willis Tower Watson | WTW | 817 | $282 | 0.13% |
| 66 | FTI Consulting, Inc. | FCN | 1,670 | $270 | 0.12% |
| 67 | Intel | INTC | 10,710 | $240 | 0.11% |
| 68 | Liberty Broadband cl C | LBRDP | 3,412 | $217 | 0.10% |
| 69 | Capital One | 14040H105 | 950 | $202 | 0.09% |
| 70 | Keurig Dr. Pepper | KDP | 7,845 | $200 | 0.09% |
| 71 | Kraft Heintz Co | KHC | 7,298 | $190 | 0.09% |
| 72 | Brown Forman | BF-B | 6,804 | $183 | 0.08% |
| 73 | Pinnacle Financial Partners | 72346Q104 | 1,909 | $179 | 0.08% |
| 74 | Sirius XM Holdings | SIRI | 7,396 | $172 | 0.08% |
| 75 | Ascent Industries Corp | ACNT | 13,077 | $168 | 0.08% |
| 76 | White Mountains | G9618E107 | 100 | $167 | 0.08% |
| 77 | Echostar Corp | SATS | 4,982 | $114 | 0.05% |
| 78 | Cable One Inc. | CABO | 610 | $108 | 0.05% |
| 79 | Enovis Corp | ENOV | 2,889 | $91 | 0.04% |
| 80 | Paramount Global | 92556H107 | 6,738 | $87 | 0.04% |
| 81 | Liberty Global cl C | LBTYK | 7,967 | $82 | 0.04% |
| 82 | Liberty Global cl A | LBTYK | 5,951 | $68 | 0.03% |