Hi-Line Capital Management, LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 6, 2025), Hi-Line Capital Management, LLC reported 39 stock positions worth $316.8 million. Its top holding was Berkshire Hathaway Class A (BRK.A) at 11.9% of the portfolio, followed by iShares Core MSCI Dev MKTS (IDEV, 8.7%) and Berkshire Hathaway Class B (BRK.B, 4.5%). Compared with Q2 2025, it opened 3 new positions, sold out of 3, added to 29 and reduced 4. The biggest buy was a new position in Cigna (CI) and the biggest sale an exit from Sunrise Communicat Class A (SNREY).
- Most Recent 13F
- Q2 2026
- Location
- WATERTOWN, SD
- CIK
- 0001776074
- Portfolio Value
- $316.8M (Q3 2025)
- SEC Filing
- 0001951757-25-001290 ↗ filed Nov 6, 2025
Holdings Value
Holdings 39 stocks · $316.8M
| BRK.A Berkshire Hathaway Inc. Class A | 11.90% | 50 | $37.7M | Add +2.0% |
| IDEV iShares Core MSCI Dev MKTS | 8.70% | 343,822 | $27.6M | Add +19.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 4.53% | 28,572 | $14.4M | Add +9.6% |
| RSP Invesco S&P 500 Equal Weight | 4.17% | 69,673 | $13.2M | Add +19.4% |
| LBRDK Liberty Broadband-C | 4.16% | 207,235 | $13.2M | Add +25.8% |
| SIRI Sirius XM Holdings Inc. | 3.94% | 535,843 | $12.5M | Add +2.2% |
| IEMG iShares Core MSCI Emerging | 3.89% | 187,127 | $12.3M | Add +19.1% |
| WBD Warner Bros Discovery Inc. | 3.77% | 611,598 | $11.9M | Add +2.8% |
| LBTYA Liberty Global Ltd. Class A | 3.63% | 1,004,299 | $11.5M | Add +1.4% |
| BN Brookfield Corp. | 3.19% | 147,158 | $10.1M | Reduce -31.5% |
| COP Conocophillips | 3.01% | 100,841 | $9.5M | Add +0.7% |
| JPM JPMorgan Chase & Co. | 2.88% | 28,941 | $9.1M | Add +1.8% |
| CRH CRH PLC | 2.74% | 72,394 | $8.7M | Add +2.5% |
| CB Chubb Ltd. | 2.70% | 30,207 | $8.6M | Add +3.4% |
| IJH iShares Core S&P Midcap ETF | 2.55% | 123,577 | $8.1M | Add +13.6% |
| CMCSA Comcast Corp. Class A | 2.46% | 248,043 | $7.8M | Add +2.3% |
| MKL Markel Group Inc. | 2.38% | 3,946 | $7.5M | Add +2.4% |
| VSAT Viasat Inc. | 2.32% | 250,359 | $7.3M | Reduce -4.9% |
| EXP Eagle Materials Inc. | 2.27% | 30,798 | $7.2M | Add +2.8% |
| IVV iShares Core S&P 500 ETF | 2.19% | 10,352 | $6.9M | Add +19.5% |
| LMT Lockheed Martin Corp. | 2.09% | 13,294 | $6.6M | Add +1.6% |
| AXP American Express Co. | 2.07% | 19,783 | $6.6M | Add +2.9% |
| IJR iShares Core S&P Small-Cap E | 1.75% | 46,685 | $5.5M | Add +10.9% |
| CI The Cigna Group | 1.67% | 18,338 | $5.3M | New |
| UPS United Parcel Service Class B | 1.66% | 62,955 | $5.3M | Add +2.4% |
| DAC Danaos Corp. | 1.62% | 57,133 | $5.1M | Add +98.6% |
| AER Aercap Holdings NV | 1.59% | 41,676 | $5.0M | Add +27.0% |
| AMCR Amcor PLC | 1.54% | 594,947 | $4.9M | New |
| MHK Mohawk Industries Inc. | 1.52% | 37,425 | $4.8M | Add +2.6% |
| HCC Warrior Met Coal Inc. | 1.50% | 74,531 | $4.7M | Add +3.0% |
| PCAR Paccar Inc. | 1.23% | 39,777 | $3.9M | Add +2.8% |
| OXY Occidental Petroleum Corp. | 0.94% | 62,971 | $3.0M | Reduce -0.3% |
| ADM Archer-Daniels-Midland Co. | 0.90% | 47,755 | $2.9M | Add +2.7% |
| SCZ iShares MSCI Eafe Small-Cap | 0.84% | 34,738 | $2.7M | No change |
| CNH CNH Industrial NV | 0.80% | 233,942 | $2.5M | Add +2.8% |
| GLIBK Liberty Capital Corp. Class C filed as GCI LIBERTY INC | 0.34% | 29,022 | $1.1M | Reduce -11.9% |
| DINO HF Sinclair Corp. | 0.26% | 15,864 | $830K | No change |
| ARW Arrow Electronics Inc. | 0.21% | 5,578 | $675K | No change |
| CABO Cable One Inc. | 0.08% | 1,373 | $243K | New |
Portfolio Sells Q2 2025 → Q3 2025
| SNREY Sunrise Communicat Class A | Sold out | 0.00% | −1.99 |
| TMUS T-Mobile US Inc. | Sold out | 0.00% | −1.64 |
| BN Brookfield Corp. | Reduce -31.5% | 3.19% | −1.52 |
| PNC PNC Financial Services Group | Sold out | 0.00% | −0.30 |
| GLIBK Liberty Capital Corp. Class C | Reduce -11.9% | 0.34% | −0.09 |
| OXY Occidental Petroleum Corp. | Reduce -0.3% | 0.94% | −0.00 |
| VSAT Viasat Inc. | Reduce -4.9% | 2.32% | +0.95 |
Portfolio Buys Q2 2025 → Q3 2025
| CI The Cigna Group | New | 1.67% | +1.67 |
| AMCR Amcor PLC | New | 1.54% | +1.54 |
| WBD Warner Bros Discovery Inc. | Add +2.8% | 3.77% | +1.36 |
| IDEV iShares Core MSCI Dev MKTS | Add +19.3% | 8.70% | +0.94 |
| DAC Danaos Corp. | Add +98.6% | 1.62% | +0.74 |
| IEMG iShares Core MSCI Emerging | Add +19.1% | 3.89% | +0.55 |
| CRH CRH PLC | Add +2.5% | 2.74% | +0.44 |
| RSP Invesco S&P 500 Equal Weight | Add +19.4% | 4.17% | +0.42 |
| HCC Warrior Met Coal Inc. | Add +3.0% | 1.50% | +0.32 |
| IVV iShares Core S&P 500 ETF | Add +19.5% | 2.19% | +0.28 |
| AER Aercap Holdings NV | Add +27.0% | 1.59% | +0.23 |
| MHK Mohawk Industries Inc. | Add +2.6% | 1.52% | +0.17 |
| IJH iShares Core S&P Midcap ETF | Add +13.6% | 2.55% | +0.16 |
| LBTYA Liberty Global Ltd. Class A | Add +1.4% | 3.63% | +0.12 |
| IJR iShares Core S&P Small-Cap E | Add +10.9% | 1.75% | +0.12 |
| EXP Eagle Materials Inc. | Add +2.8% | 2.27% | +0.12 |
| CABO Cable One Inc. | New | 0.08% | +0.08 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +9.6% | 4.53% | +0.05 |
| ADM Archer-Daniels-Midland Co. | Add +2.7% | 0.90% | +0.03 |
| JPM JPMorgan Chase & Co. | Add +1.8% | 2.88% | −0.04 |
| LMT Lockheed Martin Corp. | Add +1.6% | 2.09% | −0.05 |
| PCAR Paccar Inc. | Add +2.8% | 1.23% | −0.07 |
| AXP American Express Co. | Add +2.9% | 2.07% | −0.10 |
| COP Conocophillips | Add +0.7% | 3.01% | −0.17 |
| CNH CNH Industrial NV | Add +2.8% | 0.80% | −0.24 |
| CB Chubb Ltd. | Add +3.4% | 2.70% | −0.31 |
| SIRI Sirius XM Holdings Inc. | Add +2.2% | 3.94% | −0.33 |
| MKL Markel Group Inc. | Add +2.4% | 2.38% | −0.35 |
| UPS United Parcel Service Class B | Add +2.4% | 1.66% | −0.54 |
| CMCSA Comcast Corp. Class A | Add +2.3% | 2.46% | −0.61 |
| BRK.A Berkshire Hathaway Inc. Class A | Add +2.0% | 11.90% | −0.74 |
| LBRDK Liberty Broadband-C | Add +25.8% | 4.16% | −1.58 |
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 |