Q2 2026 13F · SEC CIK 1811907

Citadel Investment Advisory, Inc.

Wealth managerFiled 2026-07-23 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $220.3M
Reported positions: 76
Top holdings a year, 3 yrs: +16.4%
Assets under management: $278.3M

Citadel Investment Advisory, Inc. is a wealth manager that reported 76 positions worth $220.3M in its Q2 2026 13F, filed 2026-07-23. Its largest holdings were Berkshire Hathaway Inc Del (BRK-B, 23.8%), Markel Group Inc (MKL, 13.5%), Alphabet Inc (GOOGL, 7.6%). A portfolio copying its top holdings returned 16.4% a year over the last 3 years, against 20.4% for the S&P 500.

Citadel Investment Advisory, Inc. holdings largest 50 of 76 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

Citadel Investment Advisory, Inc. 13F holdings
Stock	% of 13F value	Q1 2026	Shares	Share change	Reported value
BRK-BBerkshire Hathaway Inc Del	23.8%	24.0%	104,793	-0.1%	$52.4M
MKLMarkel Group Inc	13.5%	13.9%	15,242	+0.0%	$29.8M
GOOGLAlphabet Inc	7.6%	6.4%	46,669	-0.4%	$16.7M
GOOGAlphabet Inc	4.4%	3.8%	27,430	-1.1%	$9.7M
IPMLFImperial Metals Corp	3.4%	4.6%	1,732,813	-0.1%	$7.6M
PMPhilip Morris Intl Inc Com	3.2%	3.1%	39,030	+0.0%	$7.1M
JNJJohnson & Johnson	2.7%	2.7%	23,054	+0.0%	$5.9M
MSFTMicrosoft Corp	2.5%	2.6%	14,568	+0.0%	$5.4M
RTXRtx Corporation Com	2.4%	2.6%	27,943	+0.0%	$5.3M
IBMInternational Business Machs	2.2%	2.0%	16,875	+0.0%	$4.7M
ABBVAbbvie Inc	2.0%	1.9%	17,848	-0.1%	$4.5M
GSGoldman Sachs Group Inc	1.9%	1.7%	4,100	-0.4%	$4.1M
MCOMoodys Corp	1.5%	1.5%	7,427	+0.0%	$3.4M
ORCLOracle Corp	1.5%	1.6%	22,366	+0.0%	$3.3M
KOCoca Cola Co	1.4%	1.4%	38,403	-0.3%	$3.1M
GDGeneral Dynamics Corp	1.3%	1.4%	8,291	-0.0%	$2.9M
MCDMcdonalds Corp Com	1.3%	1.5%	10,274	+0.0%	$2.8M
JPMJpmorgan Chase & Co	1.3%	1.2%	8,422	+0.0%	$2.8M
BKNGBooking Holdings Inc Com	1.2%	1.2%	14,325	+2400.0%	$2.6M
AMGAffiliated Managers Group	1.0%	0.9%	6,452	+0.0%	$2.2M
MTDMettler-Toledo International I	1.0%	1.0%	1,700	+0.0%	$2.2M
DISDisney Walt Co	1.0%	1.0%	22,311	-0.5%	$2.1M
PEPPepsico Inc	1.0%	1.2%	15,481	-0.5%	$2.1M
WRBW. R. Berkley Corp.	0.9%	0.9%	29,468	+0.0%	$2.1M
AXPAmerican Express Co Com	0.9%	0.8%	5,832	+0.0%	$2.0M
IDXXIdexx Labs Inc	0.8%	0.9%	3,486	-0.1%	$1.8M
CSXCsx Corp Com	0.8%	0.7%	37,585	-0.2%	$1.8M
WFCWells Fargo Co New	0.7%	0.8%	19,775	+0.0%	$1.6M
MDTMedtronic	0.7%	0.9%	20,700	+0.0%	$1.6M
CACCCredit Accep Corp Mich	0.7%	0.5%	2,525	+0.0%	$1.6M
BUDAnheuser Busch Inbev ADR	0.6%	0.5%	16,383	+0.0%	$1.4M
WBDWarner Bros Discovery Inc	0.6%	0.7%	50,363	+0.0%	$1.3M
ETNEaton Corp PLC	0.6%	0.5%	3,144	+0.0%	$1.3M
MHKMohawk Inds Inc	0.5%	0.5%	9,852	+0.0%	$1.2M
BACBank of Amer Corp	0.5%	0.5%	20,560	-0.8%	$1.2M
AMZNAmazon Com Inc Com	0.5%	0.5%	4,612	+0.0%	$1.1M
JEFJefferies Financial Group Inc Com	0.4%	0.5%	19,080	+3.2%	$954K
LOWLowes Cos Inc	0.4%	0.5%	4,026	+0.0%	$888K
N93540107Vistaprint NV Cimpress	0.4%	0.3%	8,575	+0.0%	$872K
CNICanadian Natl Ry Co	0.4%	0.4%	7,161	+0.0%	$854K
HHCHoward Hughs	0.4%	0.4%	11,692	+0.0%	$836K
DHRDanaher Corporation	0.4%	0.4%	4,348	+0.0%	$828K
47804G103John Marshall Bancorp	0.4%	0.4%	37,200	+0.0%	$811K
ABTAbbott Laboratories	0.4%	0.4%	8,730	+0.0%	$792K
SYYSysco Corp	0.4%	0.3%	9,401	+0.0%	$786K
BABoeing Co	0.3%	0.3%	3,495	+0.0%	$757K
REEverest Group Ltd	0.3%	0.3%	1,960	+0.0%	$700K
MAMastercard Inc.	0.3%	0.3%	1,155	+0.0%	$593K
WYNNWynn Resorts Ltd	0.3%	0.3%	5,811	+0.0%	$564K
PGProcter & Gamble Co Com	0.2%	—	3,358	—	$492K

What Citadel Investment Advisory, Inc. bought and sold in Q2 2026, against Q1 2026.

New positions

Q1 2026's filing was too long to tell new positions apart.

Added to

BKNG Booking Holdings Inc Com+2400.0% shares

Reduced

No position shrank by more than 5%.

Left the top 50

LDOS Leidos Holdings Incwas 0.3%

Share counts compared with the Q1 2026 13F; a split also changes share counts. The latest filing lists more than 50 positions, so a position that left the top 50 may still be held.

How the holdings did against the S&P 500.

1 year: +13.3% /yr; S&P 500 +20.1%
3 years: +16.4% /yr; S&P 500 +20.4%
5 years: +10.0% /yr; S&P 500 +11.6%

A portfolio of the filer's 20 largest 13F positions, weighted by value and rebuilt each quarter on the day the filing became public. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F value	Positions
Q2 2026	$220.3M	76
Q1 2026	$209.5M	78
Q4 2025	$231.4M	79
Q3 2025	$218.0M	82
Q2 2025	$206.5M	83
Q1 2025	$203.8M	82
Q4 2024	$193.0M	82
Q3 2024	$190.2M	81
Q2 2024	$175.9M	82
Q1 2024	$177.5M	82
Q4 2023	$163.3M	82
Q3 2023	$152.7M	81

Questions about Citadel Investment Advisory, Inc.'s portfolio

What stocks does Citadel Investment Advisory, Inc. own?

Citadel Investment Advisory, Inc.'s latest 13F, for Q2 2026 and filed Jul 23, 2026, lists 76 positions worth $220.3M. The largest are Berkshire Hathaway Inc Del (BRK-B) at 23.8%, Markel Group Inc (MKL) at 13.5%, Alphabet Inc (GOOGL) at 7.6%, Alphabet Inc (GOOG) at 4.4% and Imperial Metals Corp (IPMLF) at 3.4%.

What did Citadel Investment Advisory, Inc. buy last quarter?

In Q2 2026, Citadel Investment Advisory, Inc. added Booking Holdings Inc Com (BKNG) (+2400.0% shares), compared with its Q1 2026 filing.

What did Citadel Investment Advisory, Inc. sell last quarter?

In Q2 2026, Citadel Investment Advisory, Inc. cut from its top 50 Leidos Holdings Inc (LDOS), compared with its Q1 2026 filing.

How has Citadel Investment Advisory, Inc.'s portfolio performed?

A portfolio copying Citadel Investment Advisory, Inc.'s 20 largest 13F holdings each quarter, from the day each filing was public, returned +16.4% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +13.3% against +20.1%. Over 5 years: +10.0% a year against +11.6%.

When is Citadel Investment Advisory, Inc.'s next 13F filing due?

13F filings are due 45 days after each quarter ends. Citadel Investment Advisory, Inc.'s filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.

How much money does Citadel Investment Advisory, Inc. manage?

Citadel Investment Advisory, Inc. reported $278.3M of regulatory assets under management on its latest SEC Form ADV. Its 13F, which covers only US-listed stocks and options, totals $220.3M.