Hutner Capital Management 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

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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
AbbVie Inc	COM	00287y109	2,019	25,053	SH		SOLE		21,443	0	3,610
Abbott Labs	COM	002824100	3,835	47,975	SH		SOLE		42,103	0	5,873
Altria Group Inc	COM	02209S103	5,547	96,584	SH		SOLE		79,680	0	16,904
American Express Company	COM	025816109	3,352	30,669	SH		SOLE		25,618	0	5,051
Apple Computer Inc	COM	037833100	218	1,150	SH		SOLE		0	0	1,150
Baxter International	COM	071813109	248	3,055	SH		SOLE		2,505	0	550
Berkshire Hathaway Inc Cl A	COM	084670108	16,567	55	SH		SOLE		47	0	8
Berkshire Hathaway Inc Cl B	COM	084670702	7,576	37,714	SH		SOLE		30,223	0	7,491
Coca-Cola Company	COM	191216100	7,844	167,401	SH		SOLE		140,377	0	27,024
Costco Whsl Corp	COM	22160K105	5,361	22,138	SH		SOLE		18,561	0	3,577
Enbridge Inc	COM	29250N105	2,502	69,000	SH		SOLE		54,513	0	14,487
Enterprise Prods Partners LP	COM	293792107	2,792	95,944	SH		SOLE		74,539	0	21,405
Expeditors International	COM	302130109	348	4,580	SH		SOLE		4,480	0	100
Exxon Mobil Corp	COM	30231G102	201	2,493	SH		SOLE		2,093	0	400
Franco-Nevada Corp	COM	351858105	873	11,638	SH		SOLE		8,828	0	2,810
Genuine Parts Co	COM	372460105	3,073	27,432	SH		SOLE		21,724	0	5,708
Hershey Food Corp	COM	427866108	337	2,932	SH		SOLE		2,597	0	335
Johnson & Johnson	COM	478160104	7,581	54,229	SH		SOLE		45,179	0	9,051
Kinder Morgan Inc	COM	49456B101	642	32,092	SH		SOLE		24,182	0	7,910
Kraft Heinz Co	COM	500754106	1,860	56,973	SH		SOLE		46,755	0	10,218
Magellan Midstream Partners LP	COM	559080106	849	13,995	SH		SOLE		13,070	0	925
McDonald's Corp	COM	580135101	9,308	49,013	SH		SOLE		41,042	0	7,971
Mondelez International Inc	COM	609207105	613	12,271	SH		SOLE		11,483	0	788
Norfolk Southern Corp	COM	655844108	3,905	20,896	SH		SOLE		17,461	0	3,435
Pepsico Inc	COM	713448108	8,021	65,453	SH		SOLE		54,183	0	11,270
Philip Morris International In	COM	718172109	6,278	71,024	SH		SOLE		58,945	0	12,079
Procter & Gamble Co	COM	742718109	7,517	72,246	SH		SOLE		60,479	0	11,767
Realty Income Corp	COM	756109104	2,378	32,330	SH		SOLE		26,255	0	6,075
Restaurant Brands Internationa	COM	76131d103	3,160	48,526	SH		SOLE		42,116	0	6,410
Store Capital	COM	862121100	737	21,995	SH		SOLE		18,090	0	3,905
Union Pacific Corp	COM	907818108	1,123	6,718	SH		SOLE		4,802	0	1,916
United Parcel Svc Inc Cl B	COM	911312106	1,440	12,890	SH		SOLE		10,268	0	2,622
Verisk Analytics	COM	92345Y106	2,066	15,533	SH		SOLE		13,793	0	1,740
WEC Energy Group Inc	COM	92939U106	302	3,825	SH		SOLE		3,581	0	244
Wal Mart Stores Inc	COM	931142103	2,820	28,916	SH		SOLE		24,791	0	4,125
Wells Fargo & Co	COM	949746101	3,938	81,495	SH		SOLE		64,948	0	16,547
Anheuser-Busch Inbev SA/NV	ADR	03524a108	2,802	33,374	SH		SOLE		26,427	0	6,947
British American Tobacco	ADR	110448107	485	11,615	SH		SOLE		7,865	0	3,750
Diageo PLC Sponsored ADR New	ADR	25243Q205	4,775	29,185	SH		SOLE		24,745	0	4,440
Novartis ADR	ADR	66987v109	1,028	10,695	SH		SOLE		8,430	0	2,265
Unilever PLC	ADR	904767704	239	4,147	SH		SOLE		3,511	0	635