Hi-Line Capital Management, LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 5, 2025), Hi-Line Capital Management, LLC reported 38 stock positions worth $282.4 million. Its top holding was Berkshire Hathaway Class A (BRK.A) at 12.6% of the portfolio, followed by iShares Core MSCI Dev MKTS (IDEV, 7.8%) and Liberty Broadband-C (LBRDK, 5.7%). Compared with Q1 2025, it opened 5 new positions, sold out of 6, added to 10 and reduced 19. The biggest buy was Markel (MKL, shares +622%) and the biggest sale an exit from Alibaba Group Holding-SP ADR (BABA).
- Most Recent 13F
- Q2 2026
- Location
- WATERTOWN, SD
- CIK
- 0001776074
- Portfolio Value
- $282.4M (Q2 2025)
- SEC Filing
- 0001951757-25-001024 ↗ filed Aug 5, 2025
Holdings Value
Holdings 38 stocks · $282.4M
| BRK.A Berkshire Hathaway Inc. Class A | 12.65% | 49 | $35.7M | No change |
| IDEV iShares Core MSCI Dev MKTS | 7.76% | 288,319 | $21.9M | Add +27.1% |
| LBRDK Liberty Broadband-C | 5.74% | 164,757 | $16.2M | Reduce -0.3% |
| BN Brookfield Corp. | 4.71% | 214,930 | $13.3M | Reduce -0.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 4.48% | 26,067 | $12.7M | Reduce -1.3% |
| SIRI Sirius XM Holdings Inc. | 4.26% | 524,092 | $12.0M | Add +0.1% |
| RSP Invesco S&P 500 Equal Weight | 3.76% | 58,364 | $10.6M | Add +27.3% |
| LBTYA Liberty Global Ltd. Class A | 3.51% | 990,369 | $9.9M | Reduce -1.1% |
| IEMG iShares Core MSCI Emerging | 3.34% | 157,134 | $9.4M | Add +27.3% |
| COP Conocophillips | 3.18% | 100,171 | $9.0M | Reduce -0.6% |
| CMCSA Comcast Corp. Class A | 3.07% | 242,531 | $8.7M | Reduce -0.5% |
| CB Chubb Ltd. | 3.01% | 29,216 | $8.5M | Reduce -0.3% |
| JPM JPMorgan Chase & Co. | 2.92% | 28,417 | $8.2M | Reduce -0.4% |
| MKL Markel Group Inc. | 2.73% | 3,854 | $7.7M | Add +621.7% |
| WBD Warner Bros Discovery Inc. | 2.41% | 594,854 | $6.8M | Reduce -0.4% |
| IJH iShares Core S&P Midcap ETF | 2.39% | 108,834 | $6.7M | Add +17.2% |
| CRH CRH PLC | 2.30% | 70,662 | $6.5M | Reduce -0.4% |
| UPS United Parcel Service Class B | 2.20% | 61,484 | $6.2M | Add +37.8% |
| AXP American Express Co. | 2.17% | 19,235 | $6.1M | Reduce -0.3% |
| EXP Eagle Materials Inc. | 2.15% | 29,971 | $6.1M | Add +39.6% |
| LMT Lockheed Martin Corp. | 2.15% | 13,086 | $6.1M | Reduce -0.6% |
| SNREY Sunrise Communicat Class A | 1.99% | 99,446 | $5.6M | Reduce -50.3% |
| IVV iShares Core S&P 500 ETF | 1.90% | 8,663 | $5.4M | Add +25.4% |
| TMUS T-Mobile US Inc. | 1.64% | 19,426 | $4.6M | Reduce -28.6% |
| IJR iShares Core S&P Small-Cap E | 1.63% | 42,097 | $4.6M | Add +14.2% |
| VSAT Viasat Inc. | 1.36% | 263,300 | $3.8M | Reduce -1.5% |
| AER Aercap Holdings NV | 1.36% | 32,827 | $3.8M | New |
| MHK Mohawk Industries Inc. | 1.35% | 36,480 | $3.8M | New |
| PCAR Paccar Inc. | 1.30% | 38,713 | $3.7M | New |
| HCC Warrior Met Coal Inc. | 1.17% | 72,326 | $3.3M | New |
| CNH CNH Industrial NV | 1.04% | 227,532 | $2.9M | Reduce -0.4% |
| OXY Occidental Petroleum Corp. | 0.94% | 63,164 | $2.7M | Reduce -0.8% |
| SCZ iShares MSCI Eafe Small-Cap | 0.89% | 34,738 | $2.5M | No change |
| DAC Danaos Corp. | 0.88% | 28,768 | $2.5M | New |
| ADM Archer-Daniels-Midland Co. | 0.87% | 46,481 | $2.5M | Reduce -0.4% |
| PNC PNC Financial Services Group | 0.30% | 4,520 | $843K | Reduce -0.1% |
| ARW Arrow Electronics Inc. | 0.25% | 5,578 | $711K | No change |
| DINO HF Sinclair Corp. | 0.23% | 15,864 | $652K | No change |
Portfolio Sells Q1 2025 → Q2 2025
| BABA Alibaba Group Holding-SP ADR | Sold out | 0.00% | −3.61 |
| SNREY Sunrise Communicat Class A | Reduce -50.3% | 1.99% | −1.63 |
| EG Everest Group Ltd. | Sold out | 0.00% | −1.44 |
| TMUS T-Mobile US Inc. | Reduce -28.6% | 1.64% | −1.08 |
| L Loews Corp. | Sold out | 0.00% | −1.01 |
| CNR Core Natural Resources Inc. | Sold out | 0.00% | −0.81 |
| LBTYA Liberty Global Ltd. Class A | Reduce -1.1% | 3.51% | −0.80 |
| COP Conocophillips | Reduce -0.6% | 3.18% | −0.78 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -1.3% | 4.48% | −0.78 |
| AMR Alpha Metallurgical Resource | Sold out | 0.00% | −0.54 |
| CB Chubb Ltd. | Reduce -0.3% | 3.01% | −0.31 |
| CMCSA Comcast Corp. Class A | Reduce -0.5% | 3.07% | −0.30 |
| OXY Occidental Petroleum Corp. | Reduce -0.8% | 0.94% | −0.24 |
| CABO Cable One Inc. | Sold out | 0.00% | −0.14 |
| LMT Lockheed Martin Corp. | Reduce -0.6% | 2.15% | −0.05 |
| CRH CRH PLC | Reduce -0.4% | 2.30% | −0.05 |
| CNH CNH Industrial NV | Reduce -0.4% | 1.04% | −0.00 |
| PNC PNC Financial Services Group | Reduce -0.1% | 0.30% | +0.00 |
| WBD Warner Bros Discovery Inc. | Reduce -0.4% | 2.41% | +0.02 |
| ADM Archer-Daniels-Midland Co. | Reduce -0.4% | 0.87% | +0.03 |
| AXP American Express Co. | Reduce -0.3% | 2.17% | +0.23 |
| JPM JPMorgan Chase & Co. | Reduce -0.4% | 2.92% | +0.30 |
| VSAT Viasat Inc. | Reduce -1.5% | 1.36% | +0.32 |
| LBRDK Liberty Broadband-C | Reduce -0.3% | 5.74% | +0.48 |
| BN Brookfield Corp. | Reduce -0.3% | 4.71% | +0.48 |
Portfolio Buys Q1 2025 → Q2 2025
| MKL Markel Group Inc. | Add +621.7% | 2.73% | +2.35 |
| IDEV iShares Core MSCI Dev MKTS | Add +27.1% | 7.76% | +1.92 |
| AER Aercap Holdings NV | New | 1.36% | +1.36 |
| MHK Mohawk Industries Inc. | New | 1.35% | +1.35 |
| PCAR Paccar Inc. | New | 1.30% | +1.30 |
| HCC Warrior Met Coal Inc. | New | 1.17% | +1.17 |
| DAC Danaos Corp. | New | 0.88% | +0.88 |
| IEMG iShares Core MSCI Emerging | Add +27.3% | 3.34% | +0.85 |
| RSP Invesco S&P 500 Equal Weight | Add +27.3% | 3.76% | +0.78 |
| IVV iShares Core S&P 500 ETF | Add +25.4% | 1.90% | +0.45 |
| IJH iShares Core S&P Midcap ETF | Add +17.2% | 2.39% | +0.36 |
| EXP Eagle Materials Inc. | Add +39.6% | 2.15% | +0.36 |
| UPS United Parcel Service Class B | Add +37.8% | 2.20% | +0.36 |
| IJR iShares Core S&P Small-Cap E | Add +14.2% | 1.63% | +0.19 |
| SIRI Sirius XM Holdings Inc. | Add +0.1% | 4.26% | −0.15 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 32 | $355.5M | BRK.A, IDEV, SIRI, BRK.B, IEMG |
| Q1 2026 | 32 | $318.2M | BRK.A, IDEV, LBRDK, BRK.B, SIRI |
| Q4 2025 | 37 | $300.4M | BRK.A, IDEV, BRK.B, RSP, LBTYA |
| Q3 2025 | 39 | $316.8M | BRK.A, IDEV, BRK.B, RSP, LBRDK |
| Q2 2025 | 38 | $282.4M | BRK.A, IDEV, LBRDK, BN, BRK.B |
| Q1 2025 | 39 | $267.3M | BRK.A, IDEV, BRK.B, LBRDK, SIRI |
| Q4 2024 | 37 | $228.5M | BRK.A, IDEV, BN, BRK.B, LBTYA |
| Q3 2024 | 30 | $203.6M | BRK.A, LBTYA, BN, TMUS, BRK.B |
| Q2 2024 | 33 | $238.1M | BRK.A, JPM, LBTYA, BRK.B, LSXMK |
| Q1 2024 | 39 | $281.8M | BRK.A, JPM, BRK.B, LSXMK, LBTYA |