Citadel Investment Advisory, Inc. — Q4 2025 13F Holdings

Name: Citadel Investment Advisory, Inc. — 13F Holdings, Q4 2025
Creator: AlphaSMO
License: https://www.sec.gov/forms

CIK: 0001811907

Total reported value

$220.3M

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Full holdings list this quarter

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	BRK-B	Berkshire Hathaway Inc-cl B	Stock-Other	22.98%	-0.19%	-0.19%
2	MKL	Markel Group INC	Stock-Financials	14.51%	-0.40%	+0.64%
3	GOOGL	Alphabet Inc-cl A	Stock-Comm Services	6.43%	+1.14%	-2.49%
4	IPMLF	Imperial Metals CORP	Stock-Other	5.52%	-1.15%	—
5	GOOG	Alphabet Inc-cl C	Stock-Comm Services	3.78%	+0.60%	-1.01%
6	MSFT	Microsoft CORP	Stock-Tech	3.12%	—	-0.07%
7	PM	Philip Morris International	Stock-Consumer Staples	2.74%	+0.13%	—
8	RTX	Rtx CORP	Stock-Industrials	2.26%	-0.16%	-0.03%
9	IBM	Intl Business Machines CORP	Stock-Tech	2.20%	+0.20%	-0.06%
10	JNJ	Johnson & Johnson	Stock-Healthcare	2.08%	-0.03%	-0.90%
11	ORCL	Oracle CORP	Stock-Tech	1.95%	—	—
12	ABBV	Abbvie INC	Stock-Healthcare	1.81%	+0.19%	—
13	MCO	Moody's CORP	Stock-Financials	1.70%	-0.02%	—
14	GS	Goldman Sachs Group INC	Stock-Financials	1.62%	+0.22%	—
15	MCD	Mcdonald's CORP	Stock-Consumer Disc	1.39%	-0.26%	-0.11%
16	BKNG	Booking Holdings INC	Stock-Consumer Disc	1.33%	+0.01%	-2.38%
17	GD	General Dynamics CORP	Stock-Industrials	1.22%	-0.03%	—
18	JPM	Jpmorgan Chase & Co	Stock-Financials	1.20%	+0.07%	—
19	KO	Coca-cola Co/the	Stock-Consumer Staples	1.20%	+0.02%	-1.98%
20	DIS	Walt Disney Co/the	Stock-Comm Services	1.11%	—	-2.46%
21	MTD	Mettler-toledo International	Stock-Healthcare	1.02%	—	-0.58%
22	IDXX	Idexx Laboratories INC	Stock-Healthcare	1.01%	-0.11%	—
23	PEP	Pepsico INC	Stock-Consumer Staples	0.98%	-0.20%	-1.25%
24	AXP	American Express Co	Stock-Financials	0.96%	+0.06%	—
25	WRB	Wr Berkley CORP	Stock-Financials	0.90%	+0.01%	+105.45%
26	✓	Medtronic	Stock-Other	0.88%	-0.12%	-2.87%
27	WFC	Wells Fargo & Co	Stock-Financials	0.81%	-0.01%	-0.98%
28	AMG	Affiliated Managers Group	Stock-Financials	0.80%	+0.14%	+0.31%
29	WBD	Warner Bros Discovery INC	Stock-Comm Services	0.65%	—	-0.08%
30	CSX	Csx CORP	Stock-Industrials	0.61%	+0.07%	-4.78%
31	BAC	Bank Of America CORP	Stock-Financials	0.52%	+0.05%	-0.73%
32	CACC	Credit Acceptance CORP	Stock-Other	0.51%	+0.22%	—
33	MHK	Mohawk Industries INC	Stock-Consumer Disc	0.50%	+0.08%	-15.56%
34	JEF	Jefferies Financial Group In	Stock-Financials	0.49%	-0.12%	+0.33%
35	ABT	Abbott Laboratories	Stock-Healthcare	0.49%	-0.07%	-1.10%
36	AMZN	Amazon.com INC	Stock-Consumer Disc	0.47%	+0.04%	—
37	BUD	Anheuser-busch Inbev-spn Adr	Stock-Consumer Staples	0.47%	+0.07%	-20.27%
38	LOW	Lowe's Cos INC	Stock-Consumer Disc	0.45%	-0.05%	-1.92%
39	ETN	Eaton Corporation plc	Stock-Industrials	0.45%	+0.07%	—
40	DHR	Danaher CORP	Stock-Healthcare	0.43%	—	—
41	HHC*	Howard Hughes Corp/the	Stock-Other	0.40%	+0.03%	-0.85%
42	✓	John Marshall Bancorp	Stock-Other	0.33%	+0.01%	—
43	CNI	Canadian Natl Railway Co	Stock-Industrials	0.33%	+0.04%	—
44	BA	Boeing Co/the	Stock-Industrials	0.33%	+0.01%	—
45	LDOS	Leidos Holdings INC	Stock-Tech	0.33%	-0.11%	—
46	EG	Everest Group, Ltd.	Stock-Financials	0.31%	+0.01%	—
47	SYY	Sysco CORP	Stock-Consumer Staples	0.31%	+0.04%	-3.93%
48	WYNN	Wynn Resorts LTD	Stock-Consumer Disc	0.31%	—	—
49	MA	Mastercard INC - A	Stock-Financials	0.28%	—	—
50	✓	Vistaprint NV Cimpress	Stock-Other	0.25%	+0.10%	—

1–50 of 79

Holding changes this quarter

Position changes disclosed by Citadel Investment Advisory, Inc. for the quarter ending Q4 2025, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	IPMLF	Imperial Metals CORP	+2.1%	—	Unchanged
2	GOOGL	Alphabet Inc-cl A	+1%	-2.49%	Trim
3	MKL	Markel Group INC	+0.9%	+0.64%	Add
4	GOOG	Alphabet Inc-cl C	+0.6%	-1.01%	Trim
5	WRB	Wr Berkley CORP	+0.4%	+105.45%	Add
6	WBD	Warner Bros Discovery INC	+0.2%	-0.08%	Trim
7	AMG	Affiliated Managers Group	+0.1%	+0.31%	Add
8	JNJ	Johnson & Johnson	+0.1%	-0.90%	Trim
9	RTX	Rtx CORP	+0.1%	-0.03%	Trim
10	GS	Goldman Sachs Group INC	+0.1%	—	Unchanged
11	MTD	Mettler-toledo International	+0.1%	-0.58%	Trim
12	AXP	American Express Co	0%	—	Unchanged
13	WFC	Wells Fargo & Co	0%	-0.98%	Trim
14	DHR	Danaher CORP	0%	—	Unchanged
15	MCO	Moody's CORP	0%	—	Unchanged
16	WTM	White Mountains Insurance Group, Ltd.	0%	—	Unchanged
17	BAC	Bank Of America CORP	—	-0.73%	Trim
18	AMZN	Amazon.com INC	0%	—	Unchanged
19	IBM	Intl Business Machines CORP	0%	-0.06%	Trim
20	KO	Coca-cola Co/the	0%	-1.98%	Trim
21	LBRDK	Liberty Broadband-c	0%	-2.58%	Trim
22	CABO	Cable One INC	0%	-64.75%	Trim
23	MDLZ	Mondelez International Inc-a	0%	-2.21%	Trim
24	T	At&t INC	0%	-3.12%	Trim
25	META	Meta Platforms Inc-class A	0%	—	Unchanged
26	JPM	Jpmorgan Chase & Co	0%	—	Unchanged
27	WYNN	Wynn Resorts LTD	0%	—	Unchanged
28	PG	Procter & Gamble Co/the	-0.1%	-8.40%	Trim
29	LOW	Lowe's Cos INC	-0.1%	-1.92%	Trim
30	CACC	Credit Acceptance CORP	-0.1%	—	Unchanged
31	JEF	Jefferies Financial Group In	-0.1%	+0.33%	Add
32	SYY	Sysco CORP	-0.1%	-3.93%	Trim
33	ABT	Abbott Laboratories	-0.1%	-1.10%	Trim
34	✓	Medtronic	-0.1%	-2.87%	Trim
35	FISV	Fiserv INC	-0.1%	—	Unchanged
36	BUD	Anheuser-busch Inbev-spn Adr	-0.1%	-20.27%	Trim
37	ETN	Eaton Corporation plc	-0.1%	—	Unchanged
38	DIS	Walt Disney Co/the	-0.1%	-2.46%	Trim
39	BKNG	Booking Holdings INC	-0.1%	-2.38%	Trim
40	ABBV	Abbvie INC	-0.1%	—	Unchanged
41	PM	Philip Morris International	-0.2%	—	Unchanged
42	MHK	Mohawk Industries INC	-0.3%	-15.56%	Trim
43	MSFT	Microsoft CORP	-0.4%	-0.07%	Trim
44	ORCL	Oracle CORP	-1%	—	Unchanged
45	BRK-B	Berkshire Hathaway Inc-cl B	-1.5%	-0.19%	Trim
46	INTC	Intel CORP	—	EXIT	Sold out
47	✓		—	NEW	New buy
48	✓	Ascent Industries Corp	—	EXIT	Sold out
49	ECHO	Echostar Corp-a	—	EXIT	Sold out
50	PARAA	Paramount Global-class A	—	EXIT	Sold out