Hi-Line Capital Management, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 6, 2026), Hi-Line Capital Management, LLC reported 37 stock positions worth $300.4 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, 8.6%) and Berkshire Hathaway Class B (BRK.B, 5.7%). Compared with Q3 2025, it opened 3 new positions, sold out of 5, added to 24 and reduced 9. The biggest buy was a new position in Adobe (ADBE) and the biggest sale an exit from Warner Bros Discovery (WBD).
- Most Recent 13F
- Q2 2026
- Location
- WATERTOWN, SD
- CIK
- 0001776074
- Portfolio Value
- $300.4M (Q4 2025)
- SEC Filing
- 0001951757-26-000384 ↗ filed Feb 6, 2026
Holdings Value
Holdings 37 stocks · $300.4M
| BRK.A Berkshire Hathaway Inc. Class A | 12.56% | 50 | $37.7M | No change |
| IDEV iShares Core MSCI Dev MKTS | 8.58% | 312,376 | $25.8M | Reduce -9.2% |
| BRK.B Berkshire Hathaway Inc. Class B | 5.71% | 34,124 | $17.2M | Add +19.4% |
| RSP Invesco S&P 500 Equal Weight | 4.03% | 63,230 | $12.1M | Reduce -9.3% |
| LBTYA Liberty Global Ltd. Class A | 3.84% | 1,035,340 | $11.5M | Add +3.1% |
| IEMG iShares Core MSCI Emerging | 3.83% | 171,217 | $11.5M | Reduce -8.5% |
| SIRI Sirius XM Holdings Inc. | 3.67% | 552,047 | $11.0M | Add +3.0% |
| LBRDK Liberty Broadband-C | 3.43% | 212,076 | $10.3M | Add +2.3% |
| CB Chubb Ltd. | 3.34% | 32,034 | $10.0M | Add +6.0% |
| COP Conocophillips | 3.32% | 106,600 | $10.0M | Add +5.7% |
| JPM JPMorgan Chase & Co. | 3.29% | 30,698 | $9.9M | Add +6.1% |
| CRH CRH PLC | 3.19% | 76,894 | $9.6M | Add +6.2% |
| MKL Markel Group Inc. | 2.84% | 3,964 | $8.5M | Add +0.5% |
| CMCSA Comcast Corp. Class A | 2.60% | 261,485 | $7.8M | Add +5.4% |
| ADBE Adobe Inc. | 2.59% | 22,226 | $7.8M | New |
| AXP American Express Co. | 2.58% | 20,965 | $7.8M | Add +6.0% |
| VSAT Viasat Inc. | 2.42% | 211,050 | $7.3M | Reduce -15.7% |
| HCC Warrior Met Coal Inc. | 2.32% | 79,185 | $7.0M | Add +6.2% |
| LMT Lockheed Martin Corp. | 2.27% | 14,080 | $6.8M | Add +5.9% |
| EXP Eagle Materials Inc. | 2.25% | 32,728 | $6.8M | Add +6.3% |
| UPS United Parcel Service Class B | 2.21% | 66,882 | $6.6M | Add +6.2% |
| IVV iShares Core S&P 500 ETF | 2.13% | 9,324 | $6.4M | Reduce -9.9% |
| AER Aercap Holdings NV | 2.12% | 44,205 | $6.4M | Add +6.1% |
| DAC Danaos Corp. | 1.89% | 60,179 | $5.7M | Add +5.3% |
| IJH iShares Core S&P Midcap ETF | 1.81% | 82,349 | $5.4M | Reduce -33.4% |
| CI The Cigna Group | 1.78% | 19,450 | $5.4M | Add +6.1% |
| AMCR Amcor PLC | 1.75% | 631,578 | $5.3M | Add +6.2% |
| PCAR Paccar Inc. | 1.55% | 42,073 | $4.7M | Add +5.8% |
| MHK Mohawk Industries Inc. | 1.45% | 39,802 | $4.4M | Add +6.3% |
| IJR iShares Core S&P Small-Cap E | 1.09% | 27,223 | $3.3M | Reduce -41.7% |
| ADM Archer-Daniels-Midland Co. | 0.97% | 50,646 | $2.9M | Add +6.0% |
| NE Noble Corp. PLC | 0.90% | 96,240 | $2.7M | New |
| CNH CNH Industrial NV | 0.76% | 248,611 | $2.3M | Add +6.3% |
| GLIBK Liberty Capital Corp. Class C filed as GCI LIBERTY INC | 0.53% | 42,471 | $1.6M | Add +46.3% |
| DINO HF Sinclair Corp. | 0.16% | 10,587 | $488K | Reduce -33.3% |
| ARW Arrow Electronics Inc. | 0.14% | 3,722 | $410K | Reduce -33.3% |
| CHTR Charter Communications Inc. Class A | 0.10% | 1,428 | $298K | New |
Portfolio Sells Q3 2025 → Q4 2025
| WBD Warner Bros Discovery Inc. | Sold out | 0.00% | −3.77 |
| BN Brookfield Corp. | Sold out | 0.00% | −3.19 |
| OXY Occidental Petroleum Corp. | Sold out | 0.00% | −0.94 |
| SCZ iShares MSCI Eafe Small-Cap | Sold out | 0.00% | −0.84 |
| IJH iShares Core S&P Midcap ETF | Reduce -33.4% | 1.81% | −0.74 |
| IJR iShares Core S&P Small-Cap E | Reduce -41.7% | 1.09% | −0.66 |
| RSP Invesco S&P 500 Equal Weight | Reduce -9.3% | 4.03% | −0.14 |
| IDEV iShares Core MSCI Dev MKTS | Reduce -9.2% | 8.58% | −0.12 |
| DINO HF Sinclair Corp. | Reduce -33.3% | 0.16% | −0.10 |
| CABO Cable One Inc. | Sold out | 0.00% | −0.08 |
| ARW Arrow Electronics Inc. | Reduce -33.3% | 0.14% | −0.08 |
| IEMG iShares Core MSCI Emerging | Reduce -8.5% | 3.83% | −0.06 |
| IVV iShares Core S&P 500 ETF | Reduce -9.9% | 2.13% | −0.06 |
| VSAT Viasat Inc. | Reduce -15.7% | 2.42% | +0.11 |
Portfolio Buys Q3 2025 → Q4 2025
| ADBE Adobe Inc. | New | 2.59% | +2.59 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +19.4% | 5.71% | +1.18 |
| NE Noble Corp. PLC | New | 0.90% | +0.90 |
| HCC Warrior Met Coal Inc. | Add +6.2% | 2.32% | +0.83 |
| CB Chubb Ltd. | Add +6.0% | 3.34% | +0.64 |
| UPS United Parcel Service Class B | Add +6.2% | 2.21% | +0.55 |
| AER Aercap Holdings NV | Add +6.1% | 2.12% | +0.52 |
| AXP American Express Co. | Add +6.0% | 2.58% | +0.51 |
| MKL Markel Group Inc. | Add +0.5% | 2.84% | +0.46 |
| CRH CRH PLC | Add +6.2% | 3.19% | +0.45 |
| JPM JPMorgan Chase & Co. | Add +6.1% | 3.29% | +0.41 |
| PCAR Paccar Inc. | Add +5.8% | 1.55% | +0.32 |
| COP Conocophillips | Add +5.7% | 3.32% | +0.31 |
| DAC Danaos Corp. | Add +5.3% | 1.89% | +0.27 |
| AMCR Amcor PLC | Add +6.2% | 1.75% | +0.22 |
| LBTYA Liberty Global Ltd. Class A | Add +3.1% | 3.84% | +0.21 |
| GLIBK Liberty Capital Corp. Class C | Add +46.3% | 0.53% | +0.18 |
| LMT Lockheed Martin Corp. | Add +5.9% | 2.27% | +0.17 |
| CMCSA Comcast Corp. Class A | Add +5.4% | 2.60% | +0.14 |
| CI The Cigna Group | Add +6.1% | 1.78% | +0.11 |
| CHTR Charter Communications Inc. Class A | New | 0.10% | +0.10 |
| ADM Archer-Daniels-Midland Co. | Add +6.0% | 0.97% | +0.07 |
| EXP Eagle Materials Inc. | Add +6.3% | 2.25% | −0.01 |
| CNH CNH Industrial NV | Add +6.3% | 0.76% | −0.04 |
| MHK Mohawk Industries Inc. | Add +6.3% | 1.45% | −0.07 |
| SIRI Sirius XM Holdings Inc. | Add +3.0% | 3.67% | −0.26 |
| LBRDK Liberty Broadband-C | Add +2.3% | 3.43% | −0.73 |
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 |