CI
Citadel Investment Advisory, Inc. 13F Holdings & Recent Stock Buys (Q2 2026)
Citadel Investment Advisory, Inc.CIK: 0001811907
Momentum followerLong-term holderQuality / disciplined sizing
Total reported value
$220.3M
Reporting period: 2026-06-30 · Number of holdings: 76
Citadel Investment Advisory, Inc. disclosed 76 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $220.3M and a quarterly turnover rate of 9.0%.
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Personality snowflake
- Concentration
- 36.2
- Portfolio Stability
- 9
- Momentum
- 100
- Sector conviction
- 60.74
- Diversification
- 100
- Sizing Uniformity
- 75.59
Citadel Investment Advisory, Inc.'s disclosed holdings carry a Herfindahl concentration index of 0.090 — mathematically equivalent to about 11 equally-sized positions, well below its 76 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 2.44), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 69% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govTrim IPMLF
-0.1% -$2.1M
Add GOOGL
-0.4% $3.2M
Add GOOG
-1.1% $1.7M
Trim MKL
0.0% $594.0K
Trim MCD
+0.0% -$416.0K
Add GS
-0.4% $666.0K
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 23.81% | -0.19% | -0.13% | |
| 2 | MKL | Markel Group Inc | Stock-Financials | 13.52% | -0.40% | — | |
| 3 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 7.57% | +1.14% | -0.37% | |
| 4 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 4.40% | +0.60% | -1.08% | |
| 5 | IPMLF | Imperial Metals CORP | Stock-Other | 3.45% | -1.15% | -0.09% | |
| 6 | PM | Philip Morris International | Stock-Consumer Staples | 3.21% | +0.13% | — | |
| 7 | JNJ | Johnson & Johnson | Stock-Healthcare | 2.66% | -0.03% | +0.00% | |
| 8 | MSFT | Microsoft CORP | Stock-Tech | 2.47% | -0.10% | — | |
| 9 | RTX | Rtx CORP | Stock-Industrials | 2.41% | -0.16% | — | |
| 10 | IBM | Intl Business Machines CORP | Stock-Tech | 2.15% | +0.20% | — | |
| 11 | ABBV | Abbvie Inc | Stock-Healthcare | 2.04% | +0.19% | -0.06% | |
| 12 | GS | Goldman Sachs Group Inc | Stock-Financials | 1.88% | +0.22% | -0.36% | |
| 13 | MCO | Moody's CORP | Stock-Financials | 1.53% | -0.02% | — | |
| 14 | ORCL | Oracle CORP | Stock-Tech | 1.49% | -0.08% | — | |
| 15 | KO | Coca-cola Co/the | Stock-Consumer Staples | 1.42% | +0.02% | -0.26% | |
| 16 | GD | General Dynamics CORP | Stock-Industrials | 1.33% | -0.03% | -0.05% | |
| 17 | MCD | Mcdonald's CORP | Stock-Consumer Disc | 1.26% | -0.26% | +0.01% | |
| 18 | JPM | Jpmorgan Chase & Co | Stock-Financials | 1.25% | +0.07% | — | |
| 19 | BKNG | Booking Holdings Inc | Stock-Consumer Disc | 1.16% | +0.01% | +2400.00% | |
| 20 | AMG | Affiliated Managers Group | Stock-Financials | 0.99% | +0.14% | — | |
| 21 | MTD | Mettler-toledo International | Stock-Healthcare | 0.99% | -0.03% | — | |
| 22 | DIS | Walt Disney Co/the | Stock-Comm Services | 0.97% | -0.06% | -0.47% | |
| 23 | PEP | Pepsico Inc | Stock-Consumer Staples | 0.95% | -0.20% | -0.46% | |
| 24 | WRB | Wr Berkley CORP | Stock-Financials | 0.94% | +0.01% | — | |
| 25 | AXP | American Express Co | Stock-Financials | 0.90% | +0.06% | — | |
| 26 | IDXX | Idexx Laboratories Inc | Stock-Healthcare | 0.83% | -0.11% | -0.14% | |
| 27 | CSX | Csx CORP | Stock-Industrials | 0.81% | +0.07% | -0.20% | |
| 28 | WFC | Wells Fargo & Co | Stock-Financials | 0.74% | -0.01% | — | |
| 29 | ✓ | Medtronic | Stock-Other | 0.74% | -0.12% | — | |
| 30 | CACC | Credit Acceptance CORP | Stock-Other | 0.73% | +0.22% | — | |
| 31 | BUD | Anheuser-busch Inbev-spn Adr | Stock-Consumer Staples | 0.61% | +0.07% | — | |
| 32 | WBD | Warner Bros Discovery Inc | Stock-Comm Services | 0.61% | -0.05% | — | |
| 33 | ETN | Eaton Corporation plc | Stock-Industrials | 0.61% | +0.07% | — | |
| 34 | MHK | Mohawk Industries Inc | Stock-Consumer Disc | 0.54% | +0.08% | — | |
| 35 | BAC | Bank Of America CORP | Stock-Financials | 0.53% | +0.05% | -0.84% | |
| 36 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 0.50% | +0.04% | — | |
| 37 | JEF | Jefferies Financial Group In | Stock-Financials | 0.43% | -0.12% | +3.25% | |
| 38 | LOW | Lowe's Cos Inc | Stock-Consumer Disc | 0.40% | -0.05% | — | |
| 39 | ✓ | Vistaprint NV Cimpress | Stock-Other | 0.40% | +0.10% | — | |
| 40 | CNI | Canadian Natl Railway Co | Stock-Industrials | 0.39% | +0.04% | — | |
| 41 | HHC* | Howard Hughes Corp/the | Stock-Other | 0.38% | +0.03% | — | |
| 42 | DHR | Danaher CORP | Stock-Healthcare | 0.38% | -0.01% | — | |
| 43 | ✓ | John Marshall Bancorp | Stock-Other | 0.37% | +0.01% | — | |
| 44 | ABT | Abbott Laboratories | Stock-Healthcare | 0.36% | -0.07% | — | |
| 45 | SYY | Sysco CORP | Stock-Consumer Staples | 0.36% | +0.04% | — | |
| 46 | BA | Boeing Co/the | Stock-Industrials | 0.34% | +0.01% | — | |
| 47 | EG | Everest Group, Ltd. | Stock-Financials | 0.32% | +0.01% | — | |
| 48 | MA | Mastercard Inc - A | Stock-Financials | 0.27% | -0.01% | — | |
| 49 | WYNN | Wynn Resorts LTD | Stock-Consumer Disc | 0.26% | -0.02% | — | |
| 50 | PG | Procter & Gamble Co/the | Stock-Consumer Staples | 0.22% | -0.01% | — |
1–50 of 76
Portfolio Performance
Performance for Q3 2026
+4.3%
Performance Last 4 Quarters
+15.3%
Based on 74% of reported portfolio value with available pricing
- Stdev
- +11.7%
- Beta
- +0.75
- Alpha
- +2.2%
- Max Drawdown
- -11%
- Annualized Perf
- +17.8%
- Batting Avg vs S&P
- +55.6%
- Sortino
- +2.55
- Stutzer
- +0.41
- Treynor
- +0.23
- Sterling
- +1.1
- Calmar
- +1.63
- Information Ratio
- -0.38
- Tracking Error
- +7.3%
- Stdev Down
- +6.7%
- Winning Months %
- +69.4%
- Losing Months %
- +30.6%
- Best 12 Months
- +32.7%
- Worst 12 Months
- +10.6%
- Efficiency Ratio
- +0.57
- Sharpe
- +1.46
- Stdev Sectors
- +9.8%
- Skewness
- -0.75
- Kurtosis
- +0.37
- Upside Potential
- +4.04
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 76 | $220.3M | 9 | ||
| 2026 Q1 | 78 | $209.5M | 12 | ||
| 2025 Q4 | 79 | $231.5M | 11 | ||
| 2025 Q3 | 82 | $218.0M | 17 | ||
| 2025 Q2 | 83 | $206.5M | 0 | ||
| 2025 Q1 | 82 | $203.8M | 100 | ||
| 2024 Q4 | 82 | $192.0M | 0 | ||
| 2024 Q3 | 81 | $190.2M | 0 | ||
| 2024 Q2 | 82 | $175.9M | 0 | ||
| 2024 Q1 | 82 | $177.5M | 0 | ||
| 2023 Q4 | 82 | $163.3M | 0 | ||
| 2023 Q3 | 81 | $152.7M | 0 | ||
| 2023 Q2 | 80 | $154.6M | 0 | ||
| 2023 Q1 | 79 | $146.9M | 0 | ||
| 2022 Q4 | 79 | $146.2M | 0 | ||
| 2022 Q3 | 78 | $131.1M | 0 | ||
| 2022 Q2 | 80 | $147.5M | 0 | ||
| 2022 Q1 | 80 | $172.1M | 0 | ||
| 2021 Q4 | 75 | $170.9M | 0 | ||
| 2021 Q3 | 74 | $161.4M | 0 | ||
| 2021 Q2 | 74 | $161.7M | 97 | ||
| 2021 Q1 | 74 | $152.9M | 11 | ||
| 2020 Q4 | 72 | $139.9M | 0 |
Holding changes this quarter
Citadel Investment Advisory, Inc.'s most significant position changes for 2026-06-30: Sold out: Enovis CORP (ENOV); Sold out: Cable One Inc (CABO); Trim: Imperial Metals CORP (IPMLF) — shares -0.09%; Trim: Alphabet Inc-cl A (GOOGL) — shares -0.37%; Trim: Alphabet Inc-cl C (GOOG) — shares -1.08%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | GOOGL | Alphabet Inc-cl A | +1.1% | -0.37% | Trim |
| 2 | GOOG | Alphabet Inc-cl C | +0.6% | -1.08% | Trim |
| 3 | GS | Goldman Sachs Group Inc | +0.2% | -0.36% | Trim |
| 4 | CACC | Credit Acceptance CORP | +0.2% | — | Unchanged |
| 5 | IBM | Intl Business Machines CORP | +0.2% | — | Unchanged |
| 6 | ABBV | Abbvie Inc | +0.2% | -0.06% | Trim |
| 7 | AMG | Affiliated Managers Group | +0.1% | — | Unchanged |
| 8 | PM | Philip Morris International | +0.1% | — | Unchanged |
| 9 | ✓ | Vistaprint NV Cimpress | +0.1% | — | Unchanged |
| 10 | MHK | Mohawk Industries Inc | +0.1% | — | Unchanged |
| 11 | JPM | Jpmorgan Chase & Co | +0.1% | — | Unchanged |
| 12 | CSX | Csx CORP | +0.1% | -0.20% | Trim |
| 13 | ETN | Eaton Corporation plc | +0.1% | — | Unchanged |
| 14 | BUD | Anheuser-busch Inbev-spn Adr | +0.1% | — | Unchanged |
| 15 | AXP | American Express Co | +0.1% | — | Unchanged |
| 16 | BAC | Bank Of America CORP | +0.1% | -0.84% | Trim |
| 17 | AMZN | Amazon.com Inc | 0% | — | Unchanged |
| 18 | CNI | Canadian Natl Railway Co | 0% | — | Unchanged |
| 19 | SYY | Sysco CORP | 0% | — | Unchanged |
| 20 | HHC* | Howard Hughes Corp/the | 0% | — | Unchanged |
| 21 | ✓ | 0% | — | Unchanged | |
| 22 | SIRIEUR | Sirius Xm Holdings Inc | 0% | — | Unchanged |
| 23 | KO | Coca-cola Co/the | 0% | -0.26% | Trim |
| 24 | AAPL | Apple Inc | 0% | — | Unchanged |
| 25 | KDP | Keurig Dr Pepper Inc | 0% | -4.03% | Trim |
| 26 | BKNG | Booking Holdings Inc | 0% | +2400.00% | Add |
| 27 | WRB | Wr Berkley CORP | 0% | — | Unchanged |
| 28 | BA | Boeing Co/the | 0% | — | Unchanged |
| 29 | EG | Everest Group, Ltd. | 0% | — | Unchanged |
| 30 | ✓ | John Marshall Bancorp | 0% | — | Unchanged |
| 31 | PNW | Pinnacle West Capital Corporation | 0% | — | Unchanged |
| 32 | C 6.875 PERP LBond | Citigroup Inc | 0% | — | Unchanged |
| 33 | SEIC | Sei Investments Company | — | — | Unchanged |
| 34 | ✓ | United Parcel Service Inc | — | -1.33% | Trim |
| 35 | MSCI | Msci Inc | — | — | Unchanged |
| 36 | CI | THE Cigna Group | — | — | Unchanged |
| 37 | LECO | Lincoln Electric Holdings | — | -3.17% | Trim |
| 38 | LBTYA | Liberty Global Ltd. | — | — | Unchanged |
| 39 | ESAB | Esab CORP | — | -3.16% | Trim |
| 40 | COF | Capital One Financial CORP | — | — | Unchanged |
| 41 | WFC | Wells Fargo & Co | 0% | — | Unchanged |
| 42 | WTW | Willis Towers Watson Public Limited Company | 0% | — | Unchanged |
| 43 | CABO | Cable One Inc | 0% | EXIT | Sold out |
| 44 | LBTYA | Liberty Global Ltd. | 0% | -21.89% | Trim |
| 45 | MA | Mastercard Inc - A | 0% | — | Unchanged |
| 46 | WTM | White Mountains Insurance Group, Ltd. | 0% | — | Unchanged |
| 47 | PG | Procter & Gamble Co/the | 0% | — | Unchanged |
| 48 | DHR | Danaher CORP | 0% | — | Unchanged |
| 49 | BF-B | Brown-forman Corp-class B | 0% | — | Unchanged |
| 50 | MDLZ | Mondelez International Inc-a | 0% | — | Unchanged |
1–50 of 78
Filing History
FAQ
What is Citadel Investment Advisory, Inc. and what type of investor is it?
Citadel Investment Advisory, Inc. is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $220.3M, spread across 76 disclosed positions.
What are Citadel Investment Advisory, Inc.'s largest equity positions?
Based on the latest 13F filing, Citadel Investment Advisory, Inc.'s top holdings by market value are:
1. Berkshire Hathaway Inc-cl B (BRK-B) — $52.4M (23.8%)
2. Markel Group Inc (MKL) — $29.8M (13.5%)
3. Alphabet Inc-cl A (GOOGL) — $16.7M (7.6%)
4. Alphabet Inc-cl C (GOOG) — $9.7M (4.4%)
5. Imperial Metals CORP (IPMLF) — $7.6M (3.5%)
What changes did Citadel Investment Advisory, Inc. make in its most recent portfolio filing?
In the latest reported quarter, Citadel Investment Advisory, Inc. made 26 notable position adjustments: 0 new positions were initiated, 4 existing holdings were added to, 20 positions were partially reduced, and 2 were completely exited. The largest of these moves: Sold out: Enovis CORP (ENOV); Sold out: Cable One Inc (CABO); Trim: Imperial Metals CORP (IPMLF) — shares -0.09%; Trim: Alphabet Inc-cl A (GOOGL) — shares -0.37%; Trim: Alphabet Inc-cl C (GOOG) — shares -1.08%
What sectors does Citadel Investment Advisory, Inc. focus on?
Citadel Investment Advisory, Inc. is concentrated in the following sectors based on its current disclosed equity portfolio:
• Financials: 34.5%
• Communication Services: 20.3%
• Health Care: 10.6%
• Consumer Staples: 10.1%
• Information Technology: 9.3%
• Industrials: 9.1%
Investment Profile
Citadel Investment Advisory, Inc. returned an annualized 17.8% over the trailing 36 months — outperforming the S&P 500 by 2.2 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.75 (less volatile than the market) and a 56% quarterly batting average against the index.
Its portfolio is moderately concentrated and long-term-holding, with 34.5% of the portfolio concentrated in Financials.
It has added to its JNJ position over the past two quarters (+$1.0M, now $5.9M), while trimming IPMLF over the same stretch (-$5.2M, still holding $7.6M).
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Developer Access
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REST API
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