Citadel Investment Advisory, Inc.
Long book
$209.5M
Q1 2026
Positions
78
Top-10 weight
66%
concentration
Last quarter
+8.3%
SPY +14.8%
Turnover
1%
of book per quarter
Strategy in plain words
auto-generated from filingsCitadel Investment Advisory, Inc. is a diversified fundamental manager, running a $209.5M US long book across 78 positions.
The portfolio is concentrated: the top 10 names carry 66% of the portfolio. The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: BERKSHIRE HATHAWAY INC-CL B, MARKEL GROUP INC, ALPHABET INC-CL A, IMPERIAL METALS CORP, ALPHABET INC-CL C.
Over the last 9 quarters its long book ran on average 0.6pp per quarter behind the S&P 500, beating the index in 3 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+0.3%
Q2 2024
+7.7%
Q3 2024
+0.5%
Q4 2024
+6.2%
Q1 2025
+6.0%
Q2 2025
+6.5%
Q3 2025
+7.1%
Q4 2025
-7.8%
Q1 2026
+8.3%
Sector allocation
Financials 48%
Technology 18%
Industrials 8%
Healthcare 6%
Consumer staples 6%
Other 6%
Services media 4%
Consumer discretionary 3%
Long book by quarter
What does Citadel Investment own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 104.9K | $50.3M | 24.0% | -0.8% |
| MKL MARKEL GROUP INC | Financials | 15.2K | $29.2M | 13.9% | -2.4% |
| GOOGL ALPHABET INC-CL A | Technology | 46.8K | $13.5M | 6.4% | -1.5% |
| IPMLF IMPERIAL METALS CORP | — | 1.7M | $9.6M | 4.6% | -0.8% |
| GOOG ALPHABET INC-CL C | Technology | 27.7K | $8.0M | 3.8% | -0.4% |
| PM PHILIP MORRIS INTERNATIONAL | Consumer staples | 39.0K | $6.5M | 3.1% | -1.4% |
| JNJ JOHNSON & JOHNSON | Healthcare | 23.1K | $5.6M | 2.7% | -0.8% |
| MSFT MICROSOFT CORP | Technology | 14.6K | $5.4M | 2.6% | -2.3% |
| RTX RTX CORP | Industrials | 27.9K | $5.4M | 2.6% | -2.2% |
| IBM INTL BUSINESS MACHINES CORP | Technology | 16.9K | $4.1M | 2.0% | -1.7% |
| ABBV ABBVIE INC | Healthcare | 17.9K | $3.9M | 1.9% | -2.4% |
| GS GOLDMAN SACHS GROUP INC | Financials | 4.1K | $3.5M | 1.7% | -3.4% |
| ORCL ORACLE CORP | Technology | 22.4K | $3.3M | 1.6% | -3.4% |
| MCO MOODY'S CORP | Services media | 7.4K | $3.2M | 1.5% | -3.6% |
| MCD MCDONALD'S CORP | Consumer discretionary | 10.3K | $3.2M | 1.5% | -2.3% |
| KO COCA-COLA CO/THE | Consumer staples | 38.5K | $2.9M | 1.4% | -2.8% |
| GD GENERAL DYNAMICS CORP | Industrials | 8.3K | $2.8M | 1.4% | -1.4% |
| JPM JPMORGAN CHASE & CO | Financials | 8.4K | $2.5M | 1.2% | -2.1% |
| PEP PEPSICO INC | Consumer staples | 15.6K | $2.4M | 1.2% | -1.4% |
| BKNG BOOKING HOLDINGS INC | Industrials | 573 | $2.4M | 1.2% | Held |
| DIS WALT DISNEY CO/THE | Services media | 22.4K | $2.2M | 1.0% | -1.0% |
| MTD METTLER-TOLEDO INTERNATIONAL | Healthcare | 1.7K | $2.1M | 1.0% | Held |
| IDXX IDEXX LABORATORIES INC | Materials | 3.5K | $2.0M | 0.9% | -5.2% |
| WRB WR BERKLEY CORP | Financials | 29.5K | $2.0M | 0.9% | -0.8% |
| AMG AFFILIATED MANAGERS GROUP | Financials | 6.5K | $1.8M | 0.9% | Held |
| AXP AMERICAN EXPRESS CO | Financials | 5.8K | $1.8M | 0.8% | -3.3% |
| WFC WELLS FARGO & CO | Financials | 19.8K | $1.6M | 0.8% | -1.8% |
| CSX CSX CORP | Industrials | 37.7K | $1.5M | 0.7% | -3.1% |
| WBD WARNER BROS DISCOVERY INC | Communications | 50.4K | $1.4M | 0.7% | -4.2% |
| JEF JEFFERIES FINANCIAL GROUP IN | Financials | 18.5K | $1.1M | 0.5% | Held |
| ETN EATON CORP PLC | Industrials | 3.1K | $1.1M | 0.5% | -3.1% |
| CACC CREDIT ACCEPTANCE CORP | Financials | 2.5K | $1.1M | 0.5% | -4.7% |
| BAC BANK OF AMERICA CORP | Financials | 20.7K | $1.0M | 0.5% | -4.6% |
| MHK MOHAWK INDUSTRIES INC | Other | 9.9K | $970K | 0.5% | -7.6% |
| AMZN AMAZON.COM INC | Consumer discretionary | 4.6K | $961K | 0.5% | -2.5% |
| LOW LOWE'S COS INC | Consumer discretionary | 4.0K | $951K | 0.5% | -7.1% |
| ABT ABBOTT LABORATORIES | Healthcare | 8.7K | $896K | 0.4% | -2.6% |
| DHR DANAHER CORP | Technology | 4.3K | $824K | 0.4% | Held |
| HHC* HOWARD HUGHES CORP/THE | — | 11.7K | $740K | 0.4% | Held |
| CNI CANADIAN NATL RAILWAY CO | Industrials | 7.2K | $736K | 0.4% | -7.1% |
| BA BOEING CO/THE | Industrials | 3.5K | $696K | 0.3% | Held |
| SYY SYSCO CORP | Consumer discretionary | 9.4K | $671K | 0.3% | -4.0% |
| EG EVEREST GROUP LTD | Financials | 2.0K | $641K | 0.3% | -7.9% |
| LDOS LEIDOS HOLDINGS INC | Technology | 4.1K | $639K | 0.3% | -1.6% |
| WYNN WYNN RESORTS LTD | Services media | 5.8K | $590K | 0.3% | -2.5% |
| MA MASTERCARD INC - A | Services media | 1.2K | $577K | 0.3% | Held |
| PG PROCTER & GAMBLE CO/THE | Other | 3.4K | $485K | 0.2% | -8.6% |
| CMCSA COMCAST CORP-CLASS A | Communications | 16.0K | $460K | 0.2% | -1.2% |
| META META PLATFORMS INC-CLASS A | Technology | 790 | $452K | 0.2% | Held |
| T AT&T INC | Communications | 14.1K | $408K | 0.2% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | Apr 16, 2026 | 78 | $209.52B | $K fixed canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Jan 21, 2026 | 79 | $231.45B | $K fixed canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Oct 21, 2025 | 82 | $218.0M | $K fixed canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 5, 2025 | 83 | $156.04B | $K fixed canonical | SEC ↗ |
| Q1 2025 | 13F-HR | Apr 17, 2025 | 82 | $203.8M | $K fixed canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Jan 24, 2025 | 82 | $193.0M | $K fixed canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Oct 16, 2024 | 81 | $190.24B | $K fixed canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Jul 15, 2024 | 82 | $175.9M | $K fixed canonical | SEC ↗ |
| Q1 2024 | 13F-HR | Apr 17, 2024 | 82 | $177.50B | $K fixed canonical | SEC ↗ |
Similar funds
DIAMANT ASSET MANAGEMENT, INC. LILLY ENDOWMENT INCBROOKFIELD Corp /ON/GQG Partners LLCMITSUBISHI UFJ FINANCIAL GROUP INCNewport Trust Company, LLCVIKING GLOBAL INVESTORS LPPARNASSUS INVESTMENTS, LLC MASTERCARD FOUNDATION ASSET MANAGEMENT CORPPZENA INVESTMENT MANAGEMENT LLCCOATUE MANAGEMENT LLCWinslow Capital Management, LLC