HOURGLASS CAPITAL, LLC

CIK 1442573 · View on SEC EDGAR ↗

Portfolio value
$508.4M
#3,734 of 9,443 by 13F value · top 39.5%
Positions
127
As of
June 30, 2026

Portfolio value QoQ: +5.8% 13F does not disclose cash

Top 10 holdings weight
26.15%
Top 25 holdings weight
50.97%
Positions above 1%
47
Effective number of positions
63.1

Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)

Turnover Q2 2026: 2.58% Est. buys $15,262,267 · sells $12,754,757

Median holding: 5.0 quarters Tracked Q4 2024–Q2 2026 · 70.6% still held

New positions
4
Increased
34
Decreased
44
Closed
7
On this page

Performance vs S&P 500

Tracked Q4 2024–Q2 2026
+37.6%
S&P 500 total return (same window)
+28.1%
Excess return
+9.5%

Annualized: +23.8% · S&P 500: +18.0%

Approximates a buy-and-hold portfolio built from quarterly SEC 13F snapshots. Excludes cash, short positions, options/derivatives, and non-13(f) securities — reflects the disclosed long-equity book only, not total fund AUM. SEC filing lag is up to 45 days; this is not a real-time-copyable timing.

Priceable coverage: 96.9% · Options excluded: 0.0%

Sector breakdown

Technology
15.1%
Energy
13.8%
Financial Services
7.8%
Healthcare
7.8%
Materials
7.4%
Financials
7.1%
Industrials
6.5%
Consumer Staples
5.2%
Real Estate
4.3%
Retail
4.1%
Communication Services
3.8%
Communications
2.9%
Telecommunication
2.2%
Logistics & Transportation
1.5%
Consumer Discretionary
0.3%
Consumer products
0.3%
Utilities
0.1%
Other/Unmapped
10.0%

Full portfolio 127 positions

Type Streak 8Q trend
GOOGL Alphabet Inc. - Class A Common Stock $16,078,434 3.16% 44,991 $3,067,494 Down ×4
C Citigroup, Inc. Common Stock $15,134,855 2.98% 108,137 $2,578,440 Down ×6
CSCO Cisco Systems, Inc. - Common Stock $14,384,152 2.83% 122,460 $3,498,896 Down ×4
MS Morgan Stanley Common Stock $13,278,221 2.61% 63,520 $2,729,284 Down ×6
GS Goldman Sachs Group, Inc. (The) Common Stock $13,273,220 2.61% 13,124 $2,123,918 Down ×6
SPY SPY $12,973,225 2.55% 17,372 $1,810,527 Up ×3
NVDA NVIDIA Corporation - Common Stock $12,731,927 2.50% 63,631 $1,592,127 Down ×1
CNR Core Natural Resources, Inc. Common Stock $12,519,209 2.46% 156,451 $-506,689 Up ×1
NEM Newmont Corporation $11,354,638 2.23% 121,570 $-1,377,727 Up ×1
UBER Uber Technologies, Inc. Common Stock $11,194,542 2.20% 155,135 $1,028,315 Up ×2
FCX Freeport-McMoRan, Inc. Common Stock $9,350,359 1.84% 148,678 $-859,022 Down ×1
AVGO Broadcom Inc. - Common Stock $9,059,578 1.78% 23,983 $1,263,021 Down ×1
MSFT Microsoft Corporation - Common Stock $9,053,637 1.78% 24,271 $72,943 Up ×2
KEX Kirby Corporation Common Stock $8,867,284 1.74% 65,215 $155,007 Down ×2
PFE Pfizer, Inc. Common Stock $8,604,940 1.69% 357,348 $-1,155,612 Up ×1
XOM Exxon Mobil Corporation Common Stock $8,400,487 1.65% 61,443 $-1,849,183 Up ×3
WMB Williams Companies, Inc. (The) Common Stock $8,360,276 1.64% 112,460 $144,142 Down ×4
IRM Iron Mountain Incorporated (Delaware)Common Stock REIT $8,342,776 1.64% 66,050 $1,223,618 Down ×2
ABBV AbbVie Inc. Common Stock $8,306,636 1.63% 33,010 $896,752 Down ×3
KHC The Kraft Heinz Company - Common Stock $8,271,252 1.63% 350,180 $876,540 Up ×2
BHP BHP Group Limited American Depositary Shares (Each representing two Ordinary Shares) $8,021,920 1.58% 96,290 $1,028,696 Up ×3
KMI Kinder Morgan, Inc. Common Stock $8,009,092 1.58% 250,519 $-390,810
SLB SLB Limited Common Shares $7,893,072 1.55% 169,780 $-980,953 Down ×3
ORCL Oracle Corporation Common Stock $7,877,942 1.55% 53,756 $624,536 Up ×3
UNP Union Pacific Corporation Common Stock $7,771,312 1.53% 28,571 $958,300 Up ×2
WMT Walmart Inc. - Common Stock $7,727,164 1.52% 68,225 $-866,177 Down ×6
PANW Palo Alto Networks, Inc. - Common Stock $7,715,578 1.52% 22,625 $4,088,338
HD Home Depot, Inc. (The) Common Stock $7,666,911 1.51% 21,739 $138,619 Down ×1
VLY Valley National Bancorp - Common Stock $7,566,725 1.49% 516,500 $1,179,701 Down ×2
GSK GSK plc American Depositary Shares (Each representing two Ordinary Shares) $7,557,391 1.49% 144,170 $-401,724 Down ×1
AAPL Apple Inc. - Common Stock $7,557,215 1.49% 26,117 $880,761 Down ×6
UPS United Parcel Service, Inc. Common Stock $7,495,438 1.47% 69,725 $1,213,383 Up ×6
LAMR Lamar Advertising Company - Class A Common Stock $7,429,327 1.46% 47,630 $1,266,051 Down ×1
IBM International Business Machines Corporation Common Stock $7,071,307 1.39% 25,146 $947,566 Down ×1
CVX Chevron Corporation Common Stock $7,020,599 1.38% 42,354 $-1,672,098 Up ×1
VZ Verizon Communications Inc. Common Stock $6,825,547 1.34% 161,208 $878,955 Up ×6
PM Philip Morris International Inc Common Stock $6,806,558 1.34% 37,624 $524,630 Down ×2
HCA HCA Healthcare, Inc. Common Stock $6,487,770 1.28% 16,640 $-1,398,775 Down ×6
LYB LyondellBasell Industries NV Ordinary Shares Class A (Netherlands) $6,382,128 1.26% 121,218 $-3,387,625 Down ×1
WDS Woodside Energy Group Limited American Depositary Shares, each representing one Ordinary Share $6,313,003 1.24% 326,760 $-1,432,714 Up ×2
MAIN Main Street Capital Corporation Common Stock $6,311,202 1.24% 121,650 $-232,006 Down ×2
ZBH Zimmer Biomet Holdings, Inc. Common Stock $6,225,598 1.22% 72,315 $-832,135 Down ×3
RF Regions Financial Corporation Common Stock $5,982,318 1.18% 198,090 $748,131 Down ×2
SJM The J.M. Smucker Company Common Stock $5,881,500 1.16% 52,280 $921,591 Up ×2
VICI VICI Properties Inc. Common Stock $5,877,055 1.16% 221,358 $-175,910 Down ×1
MO Altria Group, Inc. $5,618,576 1.11% 78,090 $1,759,283 Up ×2
HPQ HP Inc. Common Stock $5,551,676 1.09% 253,039 $708,086 Up ×6
QCOM QUALCOMM Incorporated - Common Stock $4,829,487 0.95% 26,135 $1,189,520 Down ×1
AMZN Amazon.com, Inc. - Common Stock $4,485,559 0.88% 18,820 $565,918
T AT&T Inc. $4,445,118 0.87% 214,740 $-1,781,644 Down ×1
IGSB iShares 1-5 Year Investment Grade Corporate Bond ETF $3,731,592 0.73% 71,200 $483,384 Up ×1
FLG Flagstar Bank, N.A. Common Stock $3,512,394 0.69% 235,100 $483,294 Up ×4
SOFI SoFi Technologies, Inc. - Common Stock $3,383,391 0.67% 188,700 $686,967 Up ×2
QQQ Invesco QQQ Trust, Series 1 $3,376,815 0.66% 4,586 $773,156 Up ×1
BKR Baker Hughes Company - Common Stock $2,827,725 0.56% 50,950 $-331,613 Down ×6
RSP $2,685,157 0.53% 12,620 $263,127
XLK XLK $2,370,831 0.47% 12,444 $690,443 Down ×1
BRKB $2,311,802 0.45% 4,620 $112,274 Up ×1
FHI Federated Hermes, Inc. Common Stock $2,134,253 0.42% 38,650 $33,147 Up ×1
FITB Fifth Third Bancorp - Common Stock $2,111,057 0.42% 37,450 $329,316 Down ×4
JNJ Johnson & Johnson Common Stock $2,097,792 0.41% 8,260 $44,496 Down ×3
VWO $2,050,053 0.40% 34,345 $47,771 Down ×1
FSLR First Solar, Inc. - Common Stock $2,020,997 0.40% 8,565 $357,109 Up ×2
VTI $1,872,032 0.37% 5,059 $249,054
PWR Quanta Services, Inc. Common Stock $1,800,100 0.35% 2,500 $427,550
GLD $1,742,437 0.34% 4,730 $1,376,690 Up ×1
META Meta Platforms, Inc. - Class A Common Stock $1,703,952 0.34% 3,025 $-26,741
DOW Dow Inc. Common Stock $1,699,056 0.33% 62,100 $-935,348 Down ×2
VB $1,492,866 0.29% 4,925 $202,910
JFR Nuveen Floating Rate Income Fund Common Stock $1,486,630 0.29% 193,824 $1,257 Down ×1
MPLX MPLX LP Common Units Representing Limited Partner Interests $1,457,370 0.29% 25,872 $-19,145
TSLA Tesla, Inc. - Common Stock $1,451,070 0.29% 3,450 $168,532
SDY $1,438,878 0.28% 9,455 $61,923 Up ×1
VO $1,421,255 0.28% 17,640 $154,791 Up ×1
MSD Morgan Stanley Emerging Markets Debt Fund, Inc. Common Stock $1,397,950 0.27% 191,500 $24,838 Down ×1
FFIN First Financial Bankshares, Inc. - Common Stock $1,384,000 0.27% 40,000 $206,000
EPD Enterprise Products Partners L.P. Common Stock $1,376,552 0.27% 37,447 $-40,442
TRGP Targa Resources, Inc. Common Stock $1,340,164 0.26% 4,998 $87,015
TBF $1,289,036 0.25% 53,200 $2,423 Up ×1
DHI D.R. Horton, Inc. Common Stock $1,149,933 0.23% 7,060 $181,160
AWF Alliancebernstein Global High Income Fund $1,116,314 0.22% 108,380 $3,919 Down ×1
ET Energy Transfer LP Common Units $1,092,536 0.21% 57,141 $-10,285
FCT First Trust Senior Floating Rate Income Fund II Common Shares of Beneficial Interest $1,079,988 0.21% 111,800 $-17,044 Down ×1
NFLX Netflix, Inc. - Common Stock $1,071,000 0.21% 15,000 $-371,250
LMT Lockheed Martin Corporation Common Stock $1,054,424 0.21% 2,070 $105,532 Up ×2
DAL Delta Air Lines, Inc. Common Stock $1,048,992 0.21% 11,200 $-981,972 Down ×4
EFR Eaton Vance Senior Floating-Rate Fund Common Shares of Beneficial Interest $1,022,900 0.20% 96,500 $5,790
PLTR Palantir Technologies Inc. - Class A Common Stock $991,695 0.20% 8,500 $-68,835 Up ×1
JNK $934,789 0.18% 9,700 $25,449 Up ×1
HEDJ $912,570 0.18% 16,010 $75,247
MOS Mosaic Company (The) Common Stock $870,909 0.17% 41,100 $-24,141 Up ×1
COST Costco Wholesale Corporation - Common Stock $823,214 0.16% 880 $-53,644
AIRR First Trust RBA American Industrial Renaissance ETF $799,500 0.16% 6,000 $134,820
CRM Salesforce, Inc. Common Stock $775,467 0.15% 4,950 $-428,555 Down ×1
CRWD CrowdStrike Holdings, Inc. - Class A Common Stock $763,140 0.15% 1,000 $372,730
MSDL Morgan Stanley Direct Lending Fund Common Stock $735,921 0.14% 48,672 $56,460
DDOG Datadog, Inc. - Class A Common Stock $650,900 0.13% 2,500 $355,775
ETN Eaton Corporation, PLC Ordinary Shares $639,180 0.13% 1,500 $102,675
WES Western Midstream Partners, LP Common Units Representing Limited Partner Interests $582,358 0.11% 13,308 $34,468
ANET Arista Networks, Inc. Common Stock $552,110 0.11% 3,250 $153,075

Conviction holdings

Positions increased for 3+ consecutive quarters.

Share counts are as reported in 13F filings (not split-adjusted)

Security Value % of portfolio Streak
SPY $12,973,225 2.55% up ×3
XOM $8,400,487 1.65% up ×3
BHP $8,021,920 1.58% up ×3
ORCL $7,877,942 1.55% up ×3
UPS $7,495,438 1.47% up ×6
VZ $6,825,547 1.34% up ×6
HPQ $5,551,676 1.09% up ×6
FLG $3,512,394 0.69% up ×4

Biggest new bets

New positions opened this quarter, largest first.

Security Value Shares % of portfolio
DIA $522,390 1,000 0.10%
DVN $260,936 6,315 0.05%
GLW $255,430 1,000 0.05%
SUN $202,703 3,003 0.04%

Top movers (QoQ)

Security Action Shares Δ Value Δ
PANW Price move only +0 +$4.1M
CSCO Trimmed -18K +$3.5M
LYB Trimmed -55 -$3.4M
GOOGL Trimmed -255 +$3.1M
MS Trimmed -580 +$2.7M
C Trimmed -3K +$2.6M
GS Trimmed -55 +$2.1M
XOM Bought more +1K -$1.8M
SPY Bought more +208 +$1.8M
T Trimmed -50 -$1.8M

Exited positions

Includes corporate events (mergers, delistings) — not all exits are sells

Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.

SecurityQuarter Shares before Value before Price since exit
GM March 31, 2026 81,377 $6,617,578 17.7%
NRG March 31, 2026 37,940 $6,041,566 -21.6%
CEIX March 31, 2025 56,340 $6,010,351 No longer tracked
MCK March 31, 2026 5,990 $4,913,537 -1.0%
MMM March 31, 2026 22,390 $3,584,639 23.8%
HPE March 31, 2026 143,110 $3,437,502 125.0%
CMCSA March 31, 2026 114,140 $3,411,645 -7.8%
UGI March 31, 2026 87,030 $3,257,533 4.2%
CPRI March 31, 2026 131,230 $3,202,012 -21.1%
BIIB March 31, 2026 17,550 $3,088,624 17.6%
CXW March 31, 2026 159,890 $3,055,498 77.5%
BAC March 31, 2026 51,787 $2,848,285 28.1%
MAN Dec. 31, 2025 73,590 $2,789,061 103.9%
TNL March 31, 2026 39,395 $2,778,529 4.1%
OI March 31, 2026 175,000 $2,583,000 -33.7%
CAG March 31, 2026 144,240 $2,496,794 2.2%
LNG March 31, 2026 11,565 $2,248,120 -1.5%
SYY March 31, 2026 20,120 $1,482,643 17.9%
TAP March 31, 2026 25,775 $1,203,177 -1.5%
JEPI March 31, 2026 20,150 $1,153,386 No longer tracked
JPM March 31, 2026 2,906 $936,371 20.8%
LIN March 31, 2026 2,002 $853,633 -1.6%
EXP June 30, 2025 3,600 $798,948 1.4%
APO June 30, 2026 6,900 $768,798 11.2%
CTRA June 30, 2025 25,350 $732,615 No longer tracked
RTX March 31, 2026 3,000 $550,200 10.2%
ROST March 31, 2026 2,600 $468,364 10.0%
SOFI Sept. 30, 2025 25,000 $455,250 -29.4%
CLF June 30, 2026 53,200 $449,540 23.3%
AMGN March 31, 2026 1,347 $440,887 23.9%
ARCH March 31, 2025 3,025 $427,190 No longer tracked
ARLP June 30, 2025 15,000 $409,200 0.4%
SNOW June 30, 2026 2,600 $392,132 24.1%
FISV June 30, 2025 1,618 $357,303 -70.1%
BA March 31, 2026 1,500 $325,680 7.8%
MPC March 31, 2026 2,000 $325,260 48.6%
NVO Dec. 31, 2025 5,700 $316,293 -8.2%
GD March 31, 2026 919 $309,391 13.0%
TM March 31, 2026 1,400 $299,684 -4.0%
BABA March 31, 2026 2,005 $293,893 -2.6%
PG March 31, 2026 2,000 $286,620 -0.8%
LH March 31, 2026 1,000 $250,880 24.5%
TGT March 31, 2026 2,500 $244,375 34.0%
COP March 31, 2026 2,510 $234,961 2.6%
BMY March 31, 2026 4,330 $233,560 8.9%
CTRA June 30, 2026 6,500 $228,410 No longer tracked
PSX March 31, 2026 1,770 $228,401 33.4%
HON June 30, 2025 1,026 $217,255 0.0%
PAAS June 30, 2025 8,000 $206,640 85.3%
UBER Sept. 30, 2025 2,204 $205,633 -20.2%
HESM June 30, 2026 5,276 $205,078 4.2%
BMY Sept. 30, 2025 4,330 $200,436 46.5%
TBT June 30, 2026 5,700 $200,298 No longer tracked
UNL March 31, 2025 20,500 $167,485 No longer tracked
EGY June 30, 2026 25,000 $158,500 16.9%
F March 31, 2026 10,000 $131,200 24.4%
UEC March 31, 2026 10,000 $116,800 No longer tracked