Hourglass Capital, LLC

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed January 30, 2025), Hourglass Capital, LLC reported 105 stock positions worth $362.6 million. Its top holding was Pfizer (PFE) at 2.9% of the portfolio, followed by Goldman Sachs (GS, 2.8%) and Morgan Stanley (MS, 2.6%). Compared with Q3 2024, it opened 6 new positions, sold out of 7, added to 43 and reduced 27. The biggest buy was a new position in United Parcel Service Class B (UPS) and the biggest sale 3M (MMM, shares −59%).

Most Recent 13F
Q2 2026
Location
HOUSTON, TX
CIK
0001442573
Portfolio Value
$362.6M (Q4 2024)
SEC Filing
0001062993-25-001307 ↗ filed Jan 30, 2025

Holdings Value

0$200.0M$400.0M$600.0M Q1 2024: $331.9M Q1 2024 Q2 2024: $336.4M Q2 2024 Q3 2024: $359.0M Q3 2024 Q4 2024: $362.6M $362.6M Q4 2024 Q1 2025: $382.2M Q1 2025 Q2 2025: $404.5M Q2 2025 Q3 2025: $445.4M Q3 2025 Q4 2025: $463.7M Q4 2025 Q1 2026: $480.5M Q1 2026 Q2 2026: $508.4M Q2 2026

Holdings 105 stocks · $362.6M
PFE Pfizer Inc. 2.91% 397,720 $10.6M Add +42.1%
GS Goldman Sachs Group Inc. 2.80% 17,699 $10.1M Reduce -2.5%
MS Morgan Stanley 2.58% 74,452 $9.4M Reduce -1.2%
C Citigroup Inc. 2.44% 125,642 $8.8M Add +0.7%
AAPL Apple Inc. 2.43% 35,229 $8.8M Reduce -0.5%
PM Philip Morris International 2.40% 72,450 $8.7M Reduce -0.8%
ORCL Oracle Corp. 2.40% 52,258 $8.7M Reduce -19.9%
NEM Newmont Corp. 2.33% 227,040 $8.5M Add +26.6%
SLB SLB Ltd. filed as SCHLUMBERGER LTD 2.32% 219,345 $8.4M Add +22.1%
CSCO Cisco Systems Inc. 2.30% 140,852 $8.3M Reduce -1.1%
KMI Kinder Morgan Inc. 2.29% 302,785 $8.3M Reduce -0.9%
LYB Lyondellbasell Indu Class A 2.16% 105,597 $7.8M Add +25.9%
GOOGL Alphabet Inc. Class A 2.16% 41,300 $7.8M Reduce -0.3%
WMB Williams Cos Inc. 2.10% 140,880 $7.6M Reduce -8.7%
FHI Federated Hermes Inc. 2.09% 184,410 $7.6M Reduce -5.1%
WMT Walmart Inc. 1.98% 79,493 $7.2M Reduce -0.3%
MAIN Main Street Capital Corp. 1.97% 122,116 $7.2M Add +0.4%
ZBH Zimmer Biomet Holdings Inc. 1.96% 67,435 $7.1M Add +47.0%
BKR Baker Hughes Co. 1.90% 168,235 $6.9M Reduce -1.1%
HCA HCA Healthcare Inc. 1.79% 21,622 $6.5M Add +0.0%
ABBV Abbvie Inc. 1.75% 35,658 $6.3M Reduce -28.0%
CVX Chevron Corp. 1.74% 43,539 $6.3M Add +4.6%
MSFT Microsoft Corp. 1.69% 14,507 $6.1M Add +3.2%
CONSOL ENERGY INC 1.66% 56,340 $6.0M Add +19.6%
FCX Freeport-McMoran Inc. 1.66% 157,590 $6.0M Add +8.3%
HD Home Depot Inc. 1.64% 15,331 $6.0M Add +1.3%
XOM Exxon Mobil Corp. 1.61% 54,232 $5.8M Reduce -0.6%
SYY Sysco Corp. 1.53% 72,505 $5.5M Reduce -0.1%
DOW Dow Inc. 1.49% 134,164 $5.4M Reduce -2.1%
NRG NRG Energy Inc. 1.46% 58,600 $5.3M Add +0.6%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 1.43% 23,510 $5.2M Reduce -21.9%
VICI Vici Properties Inc. filed as VICI PPTYS INC 1.41% 175,151 $5.1M Add +2.0%
KHC The Kraft Heinz Co. 1.32% 155,590 $4.8M Add +2.0%
NVDA Nvidia Corp. 1.31% 35,380 $4.8M Reduce -0.1%
KEX Kirby Corp. 1.31% 44,825 $4.7M Add +9.5%
DAL Delta Air Lines Inc. 1.29% 77,370 $4.7M Reduce -51.8%
AVGO Broadcom Inc. 1.27% 19,805 $4.6M Reduce -19.9%
HPQ HP Inc. 1.24% 138,005 $4.5M Add +3.5%
T AT&T Inc. 1.21% 191,960 $4.4M Add +4.9%
GM General Motors Co. 1.16% 79,147 $4.2M Add +0.5%
VLO Valero Energy Corp. 1.11% 32,830 $4.0M Add +4.3%
QCOM Qualcomm Inc. 1.10% 25,915 $4.0M Add +15.3%
BHP BHP Group Ltd.-Spon ADR 1.07% 79,266 $3.9M Add +2.2%
UPS United Parcel Service Class B 1.06% 30,565 $3.9M New
VLY Valley National Bancorp 1.05% 418,233 $3.8M Add +5.3%
WDS Woodside Energy Group-ADR 0.97% 226,249 $3.5M Add +3.1%
IRM Iron Mountain Inc. filed as IRON MTN INC DEL 0.97% 33,430 $3.5M Reduce -2.5%
SJM The JM Smucker Co. filed as SMUCKER J M CO 0.92% 30,380 $3.3M Add +5.9%
LAMR Lamar Advertising Co. Class A 0.90% 26,920 $3.3M Add +5.0%
BRK.B Berkshire Hathaway Inc. Class B 0.90% 7,225 $3.3M No change
MCK McKesson Corp. 0.86% 5,452 $3.1M Add +0.6%
HPE Hewlett Packard Enterprise 0.81% 137,480 $2.9M Add +0.5%
MMM 3M Co. 0.76% 21,450 $2.8M Reduce -58.5%
CXW Corecivic Inc. 0.73% 121,380 $2.6M No change
JEPI JPMorgan Equity Premium Inco 0.67% 42,150 $2.4M No change
LNG Cheniere Energy Inc. 0.65% 10,950 $2.4M Add +0.6%
UGI Ugi Corp. 0.64% 82,520 $2.3M Add +0.6%
CMCSA Comcast Corp. Class A 0.57% 55,450 $2.1M Add +30.6%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.57% 46,827 $2.1M Add +0.5%
CPRI Capri Holdings Ltd. 0.56% 96,570 $2.0M New
TNL Travel + Leisure Co. 0.50% 36,230 $1.8M Add +0.6%
OI O-I Glass Inc. 0.50% 167,450 $1.8M Add +105.6%
FITB Fifth Third Bancorp 0.49% 42,300 $1.8M No change
VZ Verizon Communications Inc. 0.46% 41,720 $1.7M Add +9.8%
NVO Novo-Nordisk A/S-Spons ADR 0.45% 18,950 $1.6M Add +21.3%
SDY SS SPDR S&P Dividend ETF 0.41% 11,150 $1.5M Reduce -4.4%
TAP Molson Coors Beverage Co. Class B 0.38% 24,345 $1.4M Add +0.6%
JNJ Johnson & Johnson 0.36% 8,960 $1.3M Add +12.6%
XLK SS Technology Select Sector 0.34% 5,330 $1.2M Add +300.8%
CTRA Coterra Energy Inc. 0.33% 46,350 $1.2M Add +183.5%
VTI VG Morningstar TS MKT ETF-US 0.30% 3,750 $1.1M No change
MOS The Mosaic Co. 0.29% 42,100 $1.0M New
DHI D.R. Horton Inc. 0.27% 7,060 $987K No change
FLG Flagstar Bank NA 0.26% 101,166 $944K New
JPM JPMorgan Chase & Co. 0.25% 3,735 $895K No change
EXP Eagle Materials Inc. 0.24% 3,600 $888K No change
ETN Eaton Corp. PLC 0.22% 2,400 $796K No change
SPY SS SPDR S&P 500 ETF Trust-US 0.19% 1,199 $703K Reduce -2.7%
OEF iShares S&P 100 ETF 0.19% 2,340 $676K Reduce -2.3%
SOFI Sofi Technologies Inc. 0.17% 40,000 $616K Reduce -38.5%
CLF Cleveland-Cliffs Inc. 0.16% 60,000 $564K New
LMT Lockheed Martin Corp. 0.13% 1,000 $486K No change
ARCH Arch Resources Inc. 0.12% 3,025 $427K No change
ROST Ross Stores Inc. 0.11% 2,600 $393K No change
XLC SS Comm Select Sector SPDR 0.11% 4,000 $387K New
PG The Procter & Gamble Co. 0.10% 2,097 $352K No change
AMGN Amgen Inc. 0.10% 1,347 $351K No change
RTX RTX Corp. 0.10% 3,000 $347K No change
CL Colgate-Palmolive Co. 0.09% 3,700 $336K Add +60.9%
FISV Fiserv Inc. 0.09% 1,618 $332K No change
CAT Caterpillar Inc. 0.09% 872 $316K No change
GOOG Alphabet Inc. Class C 0.09% 1,650 $314K Reduce -54.8%
COST Costco Wholesale Corp. 0.08% 326 $299K No change
MPC Marathon Petroleum Corp. 0.08% 2,000 $279K No change
TM Toyota Motor Corp. -Spon ADR 0.08% 1,400 $272K No change
COP Conocophillips 0.07% 2,510 $249K Add +25.5%
GD General Dynamics Corp. 0.07% 920 $242K No change
BMY Bristol-Myers Squibb Co. 0.07% 4,213 $238K No change
HON Honeywell International Inc. 0.06% 1,026 $232K No change
IWD iShares Russell 1000 Value E 0.06% 1,185 $219K No change

Show all 105 holdings

Portfolio Sells Q3 2024 → Q4 2024
MMM 3M Co. Reduce -58.5% 0.76% −1.21
DAL Delta Air Lines Inc. Reduce -51.8% 1.29% −0.98
ABBV Abbvie Inc. Reduce -28.0% 1.75% −0.98
ORCL Oracle Corp. Reduce -19.9% 2.40% −0.70
DOW Dow Inc. Reduce -2.1% 1.49% −0.60
IBM Intl Business Machines Corp. Reduce -21.9% 1.43% −0.43
FLG New York Community Bancorp Sold out 0.00% −0.26
XOM Exxon Mobil Corp. Reduce -0.6% 1.61% −0.17
IRM Iron Mountain Inc. Reduce -2.5% 0.97% −0.17
UAL United Airlines Holdings Inc. Sold out 0.00% −0.09
GOOG Alphabet Inc. Class C Reduce -54.8% 0.09% −0.08
WFC Wells Fargo & Co. Sold out 0.00% −0.08
INTC Intel Corp. Sold out 0.00% −0.07
UBER Uber Technologies Inc. Sold out 0.00% −0.07
PM Philip Morris International Reduce -0.8% 2.40% −0.07
KO The Coca-Cola Co. Sold out 0.00% −0.06
UNG US Natural Gas Fund LP Sold out 0.00% −0.06
SDY SS SPDR S&P Dividend ETF Reduce -4.4% 0.41% −0.06
SYY Sysco Corp. Reduce -0.1% 1.53% −0.05
SPY SS SPDR S&P 500 ETF Trust-US Reduce -2.7% 0.19% −0.00
OEF iShares S&P 100 ETF Reduce -2.3% 0.19% +0.00
SOFI Sofi Technologies Inc. Reduce -38.5% 0.17% +0.03
AVGO Broadcom Inc. Reduce -19.9% 1.27% +0.08
FHI Federated Hermes Inc. Reduce -5.1% 2.09% +0.10
NVDA Nvidia Corp. Reduce -0.1% 1.31% +0.11
AAPL Apple Inc. Reduce -0.5% 2.43% +0.14
WMB Williams Cos Inc. Reduce -8.7% 2.10% +0.14
WMT Walmart Inc. Reduce -0.3% 1.98% +0.19
CSCO Cisco Systems Inc. Reduce -1.1% 2.30% +0.19
BKR Baker Hughes Co. Reduce -1.1% 1.90% +0.19
GOOGL Alphabet Inc. Class A Reduce -0.3% 2.16% +0.24
GS Goldman Sachs Group Inc. Reduce -2.5% 2.80% +0.29
MS Morgan Stanley Reduce -1.2% 2.58% +0.39
KMI Kinder Morgan Inc. Reduce -0.9% 2.29% +0.41

Portfolio Buys Q3 2024 → Q4 2024
UPS United Parcel Service Class B New 1.06% +1.06
PFE Pfizer Inc. Add +42.1% 2.91% +0.65
ZBH Zimmer Biomet Holdings Inc. Add +47.0% 1.96% +0.59
CPRI Capri Holdings Ltd. New 0.56% +0.56
MOS The Mosaic Co. New 0.29% +0.29
CONSOL ENERGY INC Add +19.6% 1.66% +0.28
MAIN Main Street Capital Corp. Add +0.4% 1.97% +0.27
C Citigroup Inc. Add +0.7% 2.44% +0.26
FLG Flagstar Bank NA New 0.26% +0.26
XLK SS Technology Select Sector Add +300.8% 0.34% +0.26
SLB SLB Ltd. Add +22.1% 2.32% +0.22
CTRA Coterra Energy Inc. Add +183.5% 0.33% +0.22
OI O-I Glass Inc. Add +105.6% 0.50% +0.20
GM General Motors Co. Add +0.5% 1.16% +0.18
CLF Cleveland-Cliffs Inc. New 0.16% +0.16
MCK McKesson Corp. Add +0.6% 0.86% +0.11
XLC SS Comm Select Sector SPDR New 0.11% +0.11
LNG Cheniere Energy Inc. Add +0.6% 0.65% +0.10
T AT&T Inc. Add +4.9% 1.21% +0.08
CMCSA Comcast Corp. Class A Add +30.6% 0.57% +0.08
UGI Ugi Corp. Add +0.6% 0.64% +0.07
BAC Bank of America Corp. Add +0.5% 0.57% +0.05
VLY Valley National Bancorp Add +5.3% 1.05% +0.04
TNL Travel + Leisure Co. Add +0.6% 0.50% +0.04
QCOM Qualcomm Inc. Add +15.3% 1.10% +0.03
CVX Chevron Corp. Add +4.6% 1.74% +0.03
HPE Hewlett Packard Enterprise Add +0.5% 0.81% +0.03
CL Colgate-Palmolive Co. Add +60.9% 0.09% +0.03
COP Conocophillips Add +25.5% 0.07% +0.01
MSFT Microsoft Corp. Add +3.2% 1.69% +0.00
JNJ Johnson & Johnson Add +12.6% 0.36% −0.00
TAP Molson Coors Beverage Co. Class B Add +0.6% 0.38% −0.00
VZ Verizon Communications Inc. Add +9.8% 0.46% −0.01
NRG NRG Energy Inc. Add +0.6% 1.46% −0.02
SJM The JM Smucker Co. Add +5.9% 0.92% −0.04
LAMR Lamar Advertising Co. Class A Add +5.0% 0.90% −0.05
HD Home Depot Inc. Add +1.3% 1.64% −0.06
NVO Novo-Nordisk A/S-Spons ADR Add +21.3% 0.45% −0.07
VLO Valero Energy Corp. Add +4.3% 1.11% −0.07
LYB Lyondellbasell Indu Class A Add +25.9% 2.16% −0.08
WDS Woodside Energy Group-ADR Add +3.1% 0.97% −0.08
KEX Kirby Corp. Add +9.5% 1.31% −0.09
HPQ HP Inc. Add +3.5% 1.24% −0.09
KHC The Kraft Heinz Co. Add +2.0% 1.32% −0.17
VICI Vici Properties Inc. Add +2.0% 1.41% −0.18
BHP BHP Group Ltd.-Spon ADR Add +2.2% 1.07% −0.27
NEM Newmont Corp. Add +26.6% 2.33% −0.34
FCX Freeport-McMoran Inc. Add +8.3% 1.66% −0.37
HCA HCA Healthcare Inc. Add +0.0% 1.79% −0.66

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026Amended 127$508.4MGOOGL, C, CSCO, MS, GS
Q1 2026 130$480.5MCNR, GOOGL, NEM, C, SPY
Q4 2025 114$463.7MNEM, GOOGL, C, MS, GS
Q3 2025 106$445.4MNEM, ORCL, GOOGL, PFE, C
Q2 2025 106$404.5MGS, CSCO, ORCL, NEM, LYB
Q1 2025 110$382.2MPM, NEM, SLB, PFE, GS
Q4 2024 105$362.6MPFE, GS, MS, C, AAPL
Q3 2024 106$359.0MORCL, ABBV, NEM, GS, PM
Q2 2024 103$336.4MABBV, NEM, ORCL, GS, SLB
Q1 2024 102$331.9MABBV, NEM, SLB, GS, ORCL