HOURGLASS CAPITAL, LLC
Long book
$480.5M
Q1 2026
Positions
130
Top-10 weight
24%
concentration
Last quarter
+6.5%
SPY +14.8%
Turnover
53%
of book per quarter
Strategy in plain words
auto-generated from filingsHOURGLASS CAPITAL, LLC is an institutional manager, running a $480.5M US long book across 130 positions.
The portfolio is broadly diversified across 130 positions (top 10 only 24%). Turnover is high — positions rotate quickly, so individual names matter less than the process. Current anchor positions: CORE NATURAL RESOURCES INC, ALPHABET INC-CL A, NEWMONT CORP, CITIGROUP INC, SS SPDR S&P 500 ETF TRUST-US.
Over the last 9 quarters its long book ran on average 0.5pp per quarter ahead of the S&P 500, beating the index in 5 of 9 quarters. Signal value of individual moves is limited — treat changes as weak evidence.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+2.4%
Q2 2024
+8.9%
Q3 2024
+0.0%
Q4 2024
+1.2%
Q1 2025
+7.1%
Q2 2025
+9.1%
Q3 2025
+3.7%
Q4 2025
+5.8%
Q1 2026
+6.5%
Sector allocation
Technology 23%
Financials 15%
Materials 10%
Healthcare 9%
Industrials 8%
Energy 8%
Utilities 6%
Consumer staples 6%
Long book by quarter
What does HOURGLASS CAPITAL, own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| CNR CORE NATURAL RESOURCES INC | Materials | 124.4K | $13.0M | 2.7% | -0.7% |
| GOOGL ALPHABET INC-CL A | Technology | 45.2K | $13.0M | 2.7% | -6.3% |
| NEM NEWMONT CORP | Materials | 117.6K | $12.7M | 2.6% | -24.3% |
| C CITIGROUP INC | Financials | 110.7K | $12.6M | 2.6% | -4.7% |
| GS GOLDMAN SACHS GROUP INC | Financials | 13.2K | $11.1M | 2.3% | -6.5% |
| NVDA NVIDIA CORP | Technology | 63.9K | $11.1M | 2.3% | +55.9% |
| CSCO CISCO SYSTEMS INC | Technology | 140.3K | $10.9M | 2.3% | -5.7% |
| MS MORGAN STANLEY | Financials | 64.1K | $10.5M | 2.2% | -8.6% |
| XOM EXXON MOBIL CORP | Energy | 60.4K | $10.2M | 2.1% | +11.8% |
| FCX FREEPORT-MCMORAN INC | Materials | 173.7K | $10.2M | 2.1% | +11.9% |
| UBER UBER TECHNOLOGIES INC | Services media | 141.3K | $10.2M | 2.1% | +2936.9% |
| LYB LYONDELLBASELL INDU-CL A | Other | 121.3K | $9.8M | 2.0% | +19.4% |
| PFE PFIZER INC | Healthcare | 347.6K | $9.8M | 2.0% | -20.7% |
| MSFT MICROSOFT CORP | Technology | 24.3K | $9.0M | 1.9% | +83.7% |
| SLB SLB LTD | Energy | 172.7K | $8.9M | 1.8% | -26.5% |
| KEX KIRBY CORP | Industrials | 65.6K | $8.7M | 1.8% | -12.7% |
| CVX CHEVRON CORP | Energy | 42.0K | $8.7M | 1.8% | -9.1% |
| WMT WALMART INC | Consumer discretionary | 69.1K | $8.6M | 1.8% | -8.5% |
| KMI KINDER MORGAN INC | Utilities | 250.5K | $8.4M | 1.7% | -10.3% |
| WMB WILLIAMS COS INC | Utilities | 112.9K | $8.2M | 1.7% | -6.1% |
| HCA HCA HEALTHCARE INC | Healthcare | 16.7K | $7.9M | 1.6% | -8.0% |
| AVGO BROADCOM INC | Technology | 25.2K | $7.8M | 1.6% | +20.9% |
| HD HOME DEPOT INC | Consumer discretionary | 22.9K | $7.5M | 1.6% | +13.6% |
| ABBV ABBVIE INC | Healthcare | 34.1K | $7.4M | 1.5% | -12.5% |
| KHC KRAFT HEINZ CO/THE | Consumer staples | 328.8K | $7.4M | 1.5% | +65.2% |
| ORCL ORACLE CORP | Technology | 49.3K | $7.3M | 1.5% | 0.0% |
| ZBH ZIMMER BIOMET HOLDINGS INC | Healthcare | 78.1K | $7.1M | 1.5% | -0.1% |
| UNP UNION PACIFIC CORP | Industrials | 28.1K | $6.8M | 1.4% | +328.4% |
| AAPL APPLE INC | Technology | 26.3K | $6.7M | 1.4% | -6.0% |
| MAIN MAIN STREET CAPITAL CORP | — | 123.5K | $6.5M | 1.4% | -1.0% |
| VLY VALLEY NATIONAL BANCORP | Financials | 520.1K | $6.4M | 1.3% | -0.4% |
| UPS UNITED PARCEL SERVICE-CL B | Industrials | 63.9K | $6.3M | 1.3% | +55.5% |
| PM PHILIP MORRIS INTERNATIONAL | Consumer staples | 38.0K | $6.3M | 1.3% | -28.9% |
| T AT&T INC | Communications | 214.8K | $6.2M | 1.3% | +2.8% |
| IBM INTL BUSINESS MACHINES CORP | Technology | 25.3K | $6.1M | 1.3% | +1.2% |
| VZ VERIZON COMMUNICATIONS INC | Communications | 118.5K | $5.9M | 1.2% | +91.0% |
| RF REGIONS FINANCIAL CORP | Financials | 200.4K | $5.2M | 1.1% | -3.8% |
| SJM JM SMUCKER CO/THE | Consumer staples | 51.4K | $5.0M | 1.0% | +4.2% |
| HPQ HP INC | Technology | 252.1K | $4.8M | 1.0% | +1.7% |
| AMZN AMAZON.COM INC | Consumer discretionary | 18.8K | $3.9M | 0.8% | New |
| MO ALTRIA GROUP INC | Consumer staples | 58.5K | $3.9M | 0.8% | +490.7% |
| QCOM QUALCOMM INC | Technology | 28.3K | $3.6M | 0.8% | +4.2% |
| PANW PALO ALTO NETWORKS INC | Technology | 22.6K | $3.6M | 0.8% | New |
| BKR BAKER HUGHES CO | Industrials | 51.8K | $3.2M | 0.7% | -65.3% |
| FLG FLAGSTAR BANK NA | Financials | 230.0K | $3.0M | 0.6% | +81.1% |
| SOFI SOFI TECHNOLOGIES INC | Financials | 169.8K | $2.7M | 0.6% | +1598.0% |
| DOW DOW INC | Materials | 63.3K | $2.6M | 0.5% | -62.6% |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 4.6K | $2.2M | 0.5% | -34.8% |
| FHI FEDERATED HERMES INC | Financials | 37.0K | $2.1M | 0.4% | -40.5% |
| JNJ JOHNSON & JOHNSON | Healthcare | 8.4K | $2.1M | 0.4% | -5.2% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 4, 2026 | 130 | $480.5M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Jan 14, 2026 | 114 | $463.7M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 10, 2025 | 106 | $445.4M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 29, 2025 | 106 | $404.5M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | Apr 30, 2025 | 110 | $382.2M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Jan 30, 2025 | 105 | $362.6M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 6, 2024 | 106 | $359.0M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 5, 2024 | 103 | $336.4M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | Apr 26, 2024 | 102 | $331.9M | canonical | SEC ↗ |
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