Citadel Investment Advisory 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

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

FORM 13F INFORMATION TABLE

OMB APPROVAL

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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
AB Inbev	BUD	03524A108	1,533	25,531	SH		SOLE		0	0	0
Abbott Laboratories	ABT	002824100	1,034	9,414	SH		SOLE		0	0	0
Abbvie Inc	ABBV	00287Y109	2,708	16,754	SH		SOLE		0	0	0
Advande Auto Parts	AAP	00751Y106	376	2,558	SH		SOLE		0	0	0
Alphabet Inc. Class A	GOOGL	02079K305	4,973	56,360	SH		SOLE		0	0	0
Alphabet Inc. Class C	GOOG	02079K107	2,823	31,820	SH		SOLE		0	0	0
American Express	AXP	025816109	1,017	6,884	SH		SOLE		0	0	0
Amazon	AMZN	023135106	433	5,160	SH		SOLE		0	0	0
Apple Inc	AAPL	037833100	208	1,600	SH		SOLE		0	0	0
ATT	T	00206R102	489	26,561	SH		SOLE		0	0	0
Bank of America	BAC	060505104	848	25,600	SH		SOLE		0	0	0
Beckshire Hathaway	BRKB	084670702	33,551	108,597	SH		SOLE		0	0	0
Berkley W R Corp	WRB	084423102	473	6,516	SH		SOLE		0	0	0
Boeing Company	BA	097023105	730	3,830	SH		SOLE		0	0	0
Booking Holdings Inc	BKNG	09857L108	1,451	720	SH		SOLE		0	0	0
Brown Forman	BFB	115637209	447	6,804	SH		SOLE		0	0	0
Cable One Inc.	CABO	12685J105	535	752	SH		SOLE		0	0	0
Canadian National Railway	CNI	136375102	999	8,401	SH		SOLE		0	0	0
Cedar Fair	FUN	150185106	354	8,575	SH		SOLE		0	0	0
Cigna Corp	CI	125523100	428	1,292	SH		SOLE		0	0	0
Vistaprint NV Cimpress	CMPR	N93540107	266	9,625	SH		SOLE		0	0	0
Coca Cola Co	KO	191216100	2,777	43,653	SH		SOLE		0	0	0
Colgate Palmolive	CL	172967333	405	5,137	SH		SOLE		0	0	0
Comcast	CMCSA	20030N101	681	19,480	SH		SOLE		0	0	0
Credit Acceptance Corp	CACC	225310101	760	1,602	SH		SOLE		0	0	0
CSX Corp	CSX	126408103	1,323	42,689	SH		SOLE		0	0	0
Danaher Corp	DHR	235851102	1,181	4,448	SH		SOLE		0	0	0
Warner Brothers Discovery,inc	WBD	934423104	683	72,053	SH		SOLE		0	0	0
ESAB Corp	ESAB	29605J106	245	5,226	SH		SOLE		0	0	0
Dish Network	DISH	25470M109	471	33,592	SH		SOLE		0	0	0
Disney Company	DIS	254687106	2,223	25,585	SH		SOLE		0	0	0
Enovis Corp	ENOV	194014502	280	5,226	SH		SOLE		0	0	0
Eaton Corp	ETN	G29183103	543	3,457	SH		SOLE		0	0	0
Everest Re Group Inc	RE	G3223R108	812	2,450	SH		SOLE		0	0	0
Fiserv Inc	FISV	337738108	414	4,092	SH		SOLE		0	0	0
FTI Consulting, Inc.	FCN	302941109	265	1,670	SH		SOLE		0	0	0
General Dynamics Corp	GD	369550108	2,097	8,451	SH		SOLE		0	0	0
Goldman Sachs Group Inc.	GS	38141G104	1,604	4,670	SH		SOLE		0	0	0
Howard Hughs	HHC	44267D107	931	12,177	SH		SOLE		0	0	0
IBM Corp	IBM	459200101	2,635	18,706	SH		SOLE		0	0	0
Idexx Labs Inc	IDXX	45168D104	1,556	3,815	SH		SOLE		0	0	0
Imperial Metals Corp	IPMLF	452892102	2,620	1,962,289	SH		SOLE		0	0	0
Intel	INTC	458140100	373	14,107	SH		SOLE		0	0	0
John Marshall Bancorp	JMSB	47804G103	1,240	43,100	SH		SOLE		0	0	0
Jefferies Financial	JEF	47233W109	534	15,585	SH		SOLE		0	0	0
Johnson & Johnson	JNJ	478160104	4,320	24,453	SH		SOLE		0	0	0
JPMorgan Chase & Co	JPM	46625H100	1,222	9,111	SH		SOLE		0	0	0
Keurig Dr. Pepper	KDP	49271V100	214	5,995	SH		SOLE		0	0	0
Kraft Heintz Co	KHC	500754106	480	11,801	SH		SOLE		0	0	0
Leidos Holdings Inc	LDOS	525327102	554	5,267	SH		SOLE		0	0	0
Liberty Broadband cl C	LBRDK	530307305	333	4,369	SH		SOLE		0	0	0
Liberty Global cl A	LBTYA	G5480U104	181	9,549	SH		SOLE		0	0	0
Liberty Global cl C	LBTYK	G5480U120	227	11,679	SH		SOLE		0	0	0
Liberty Media Sirius A	LSXMA	531229409	166	4,227	SH		SOLE		0	0	0
Liberty Media Sirius C	LSXMK	531229607	352	8,994	SH		SOLE		0	0	0
Lowes	LOW	548661107	1,085	5,445	SH		SOLE		0	0	0
Markel Corp	MKL	570535104	21,150	16,053	SH		SOLE		0	0	0
Mastercard	MA	57636Q104	410	1,180	SH		SOLE		0	0	0
McDonald's	MCD	580135101	2,785	10,568	SH		SOLE		0	0	0
Medtronic	MDT	BTN1Y11US	1,919	24,695	SH		SOLE		0	0	0
Mettler Toledo Intl	MTD	592688105	2,782	1,925	SH		SOLE		0	0	0
Microsoft Corp	MSFT	594918104	3,678	15,338	SH		SOLE		0	0	0
Mohawk Industries	MHK	608190104	1,302	12,733	SH		SOLE		0	0	0
Mondelez Intl Inc	MDLZ	609207105	407	6,100	SH		SOLE		0	0	0
Moodys Corp	MCO	615369105	2,191	7,865	SH		SOLE		0	0	0
Oracle Corp	ORCL	68389X105	1,838	22,492	SH		SOLE		0	0	0
PepsiCo	PEP	713448108	2,949	16,321	SH		SOLE		0	0	0
Philip Morris Intl	PM	718172109	4,107	40,576	SH		SOLE		0	0	0
Proctor & Gamble Co	PG	742718109	650	4,286	SH		SOLE		0	0	0
Raytheon Technologies Corp	RTX	75513E101	2,912	28,856	SH		SOLE		0	0	0
Ascent Industries Corp	ACNT	001725861	155	17,904	SH		SOLE		0	0	0
SEI Investments	SEIC	784117103	256	4,395	SH		SOLE		0	0	0
Sysco Corp	SYY	871829107	1,075	14,063	SH		SOLE		0	0	0
United Parcel Service Inc	UPS	911312205	954	5,486	SH		SOLE		0	0	0
ViacomCBS cl B	VIAC	92556H107	227	13,432	SH		SOLE		0	0	0
Walgreens	WBA	931422109	929	24,869	SH		SOLE		0	0	0
Wells Fargo	WFC	949746101	1,066	25,807	SH		SOLE		0	0	0
Willis Tower Watson	WTW	G96629103	202	826	SH		SOLE		0	0	0
Wynn Resorts	WYNN	983134107	831	10,071	SH		SOLE		0	0	0