Hi-Line Capital Management, LLC
Long book
$318.2M
Q1 2026
Positions
32
Top-10 weight
55%
concentration
Last quarter
+5.2%
SPY +14.8%
Turnover
36%
of book per quarter
Strategy in plain words
auto-generated from filingsHi-Line Capital Management, LLC is a concentrated fundamental stock-picker, running a $318.2M US long book across 32 positions.
The portfolio is concentrated: the top 10 names carry 55% of the portfolio. The portfolio is actively managed, with meaningful quarterly turnover. Current anchor positions: BERKSHIRE HATHAWAY INC-CL A, ISHARES CORE MSCI DEV MKTS, LIBERTY BROADBAND-C, BERKSHIRE HATHAWAY INC-CL B, SIRIUS XM HOLDINGS INC.
Over the last 9 quarters its long book ran on average 0.8pp per quarter behind the S&P 500, beating the index in 4 of 9 quarters. We rate its filings highest-signal: new buys here are worth attention.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-3.1%
Q2 2024
+12.9%
Q3 2024
+0.3%
Q4 2024
+4.8%
Q1 2025
+0.9%
Q2 2025
+6.6%
Q3 2025
+2.9%
Q4 2025
+2.5%
Q1 2026
+5.2%
Sector allocation
Financials 42%
Communications 18%
Industrials 17%
Other 9%
Energy 5%
Services media 4%
Technology 3%
Materials 3%
Long book by quarter
What does Hi-Line Capital own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| BRK/A BERKSHIRE HATHAWAY INC-CL A | Financials | 50 | $35.9M | 11.3% | Held |
| LBRDK LIBERTY BROADBAND-C | Communications | 336.4K | $16.9M | 5.3% | +58.6% |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 34.0K | $16.3M | 5.1% | -0.4% |
| SIRI SIRIUS XM HOLDINGS INC | Communications | 667.7K | $15.4M | 4.8% | +20.9% |
| NE NOBLE CORP PLC | Energy | 227.6K | $11.2M | 3.5% | +136.5% |
| CB CHUBB LTD | Financials | 32.0K | $10.5M | 3.3% | -0.1% |
| EXP EAGLE MATERIALS INC | Industrials | 52.3K | $9.9M | 3.1% | +59.9% |
| CF CF INDUSTRIES HOLDINGS INC | Other | 72.6K | $9.4M | 3.0% | New |
| AER AERCAP HOLDINGS NV | Services media | 66.8K | $9.2M | 2.9% | +51.1% |
| JPM JPMORGAN CHASE & CO | Financials | 30.6K | $9.0M | 2.8% | -0.2% |
| CI THE CIGNA GROUP | Financials | 30.9K | $8.3M | 2.6% | +59.1% |
| CRH CRH PLC | Industrials | 76.8K | $8.1M | 2.5% | -0.2% |
| ADBE ADOBE INC | Technology | 33.1K | $8.0M | 2.5% | +49.0% |
| BRO BROWN & BROWN INC | Financials | 113.2K | $7.4M | 2.3% | New |
| HCC WARRIOR MET COAL INC | Materials | 79.1K | $7.4M | 2.3% | -0.1% |
| MKL MARKEL GROUP INC | Financials | 3.6K | $6.9M | 2.2% | -9.0% |
| AMCR AMCOR PLC | Other | 172.2K | $6.8M | 2.2% | New |
| DAC DANAOS CORP | Industrials | 60.2K | $6.8M | 2.1% | +0.1% |
| UPS UNITED PARCEL SERVICE-CL B | Industrials | 66.7K | $6.6M | 2.1% | -0.3% |
| AXP AMERICAN EXPRESS CO | Financials | 20.9K | $6.3M | 2.0% | -0.2% |
| MHK MOHAWK INDUSTRIES INC | Other | 64.2K | $6.3M | 2.0% | +61.2% |
| GLIBK LIBERTY CAPITAL CORP-CL C | Communications | 141.5K | $5.3M | 1.7% | +233.2% |
| PCAR PACCAR INC | Industrials | 42.0K | $4.9M | 1.5% | -0.1% |
| VSNT VERSANT MEDIA GROUP INC | Communications | 125.2K | $4.6M | 1.5% | New |
| GRBK GREEN BRICK PARTNERS INC | Industrials | 63.4K | $4.1M | 1.3% | New |
| CHTR CHARTER COMMUNICATIONS INC-A | Communications | 1.4K | $296K | 0.1% | -4.1% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | Apr 27, 2026 | 32 | $318.2M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 6, 2026 | 37 | $300.4M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 6, 2025 | 39 | $316.8M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 5, 2025 | 38 | $282.4M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | Apr 23, 2025 | 39 | $267.3M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 4, 2025 | 37 | $228.5M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Oct 28, 2024 | 30 | $203.6M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Jul 31, 2024 | 33 | $238.1M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | Apr 18, 2024 | 39 | $281.8M | canonical | SEC ↗ |
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