Hourglass Capital, LLC
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 4, 2026), Hourglass Capital, LLC reported 130 stock positions worth $480.5 million. Its top holding was Core Natural Resources (CNR) at 2.7% of the portfolio, followed by Alphabet Class A (GOOGL, 2.7%) and Newmont (NEM, 2.6%). Compared with Q4 2025, it opened 52 new positions, sold out of 36, added to 32 and reduced 41. The biggest buy was SS SPDR S&P 500 ETF Trust-US (SPY, shares +1644%) and the biggest sale an exit from General Motors (GM).
- Most Recent 13F
- Q2 2026
- Location
- HOUSTON, TX
- CIK
- 0001442573
- Portfolio Value
- $480.5M (Q1 2026)
- SEC Filing
- 0001442573-26-000001 ↗ filed May 4, 2026
Holdings Value
Holdings 130 stocks · $480.5M
| CNR Core Natural Resources Inc. | 2.71% | 124,376 | $13.0M | Reduce -0.7% |
| GOOGL Alphabet Inc. Class A | 2.71% | 45,246 | $13.0M | Reduce -6.3% |
| NEM Newmont Corp. | 2.65% | 117,620 | $12.7M | Reduce -24.3% |
| C Citigroup Inc. | 2.61% | 110,717 | $12.6M | Reduce -4.7% |
| SPY SS SPDR S&P 500 ETF Trust-US | 2.32% | 17,164 | $11.2M | Add +1644.3% |
| GS Goldman Sachs Group Inc. | 2.32% | 13,179 | $11.1M | Reduce -6.5% |
| NVDA Nvidia Corp. | 2.32% | 63,875 | $11.1M | Add +55.9% |
| CSCO Cisco Systems Inc. | 2.27% | 140,292 | $10.9M | Reduce -5.7% |
| MS Morgan Stanley | 2.20% | 64,100 | $10.5M | Reduce -8.6% |
| XOM Exxon Mobil Corp. | 2.13% | 60,413 | $10.2M | Add +11.8% |
| FCX Freeport-McMoran Inc. | 2.12% | 173,688 | $10.2M | Add +11.9% |
| UBER Uber Technologies Inc. | 2.12% | 141,335 | $10.2M | Add +2936.8% |
| LYB Lyondellbasell Indu Class A | 2.03% | 121,273 | $9.8M | Add +19.4% |
| PFE Pfizer Inc. | 2.03% | 347,598 | $9.8M | Reduce -20.7% |
| MSFT Microsoft Corp. | 1.87% | 24,261 | $9.0M | Add +83.7% |
| SLB SLB Ltd. filed as SLB LIMITED | 1.85% | 172,680 | $8.9M | Reduce -26.5% |
| KEX Kirby Corp. | 1.81% | 65,565 | $8.7M | Reduce -12.7% |
| CVX Chevron Corp. | 1.81% | 42,014 | $8.7M | Reduce -9.1% |
| WMT Walmart Inc. | 1.79% | 69,145 | $8.6M | Reduce -8.5% |
| KMI Kinder Morgan Inc. | 1.75% | 250,519 | $8.4M | Reduce -10.3% |
| WMB Williams Cos Inc. | 1.71% | 112,890 | $8.2M | Reduce -6.1% |
| GSK GSK PLC-Spon ADR | 1.66% | 144,213 | $8.0M | Add +4.2% |
| HCA HCA Healthcare Inc. | 1.64% | 16,665 | $7.9M | Reduce -8.0% |
| AVGO Broadcom Inc. | 1.62% | 25,190 | $7.8M | Add +20.9% |
| WDS Woodside Energy Group-ADR | 1.61% | 324,360 | $7.7M | Add +4.9% |
| HD Home Depot Inc. | 1.57% | 22,890 | $7.5M | Add +13.6% |
| ABBV Abbvie Inc. | 1.54% | 34,070 | $7.4M | Reduce -12.4% |
| KHC The Kraft Heinz Co. | 1.54% | 328,800 | $7.4M | Add +65.2% |
| ORCL Oracle Corp. | 1.51% | 49,306 | $7.3M | Add +0.0% |
| IRM Iron Mountain Inc. filed as IRON MTN INC DEL | 1.48% | 69,700 | $7.1M | Reduce -12.9% |
| ZBH Zimmer Biomet Holdings Inc. | 1.47% | 78,055 | $7.1M | Reduce -0.1% |
| BHP BHP Group Ltd.-Spon ADR filed as BHP BILLITON LIMITED | 1.46% | 96,140 | $7.0M | Add +1.5% |
| UNP Union Pacific Corp. | 1.42% | 28,081 | $6.8M | Add +328.4% |
| AAPL Apple Inc. | 1.39% | 26,307 | $6.7M | Reduce -6.0% |
| MAIN Main Street Capital Corp. | 1.36% | 123,550 | $6.5M | Reduce -1.1% |
| VLY Valley National Bancorp | 1.33% | 520,116 | $6.4M | Reduce -0.4% |
| UPS United Parcel Service Class B | 1.31% | 63,855 | $6.3M | Add +55.5% |
| PM Philip Morris International | 1.31% | 37,994 | $6.3M | Reduce -28.9% |
| T AT&T Inc. | 1.30% | 214,790 | $6.2M | Add +2.8% |
| LAMR Lamar Advertising Co. Class A | 1.28% | 48,660 | $6.2M | Add +1.0% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 1.27% | 25,264 | $6.1M | Add +1.2% |
| VICI Vici Properties Inc. filed as VICI PPTYS INC | 1.26% | 221,558 | $6.1M | Add +5.9% |
| VZ Verizon Communications Inc. | 1.24% | 118,458 | $5.9M | Add +91.0% |
| RF Regions Financial Corp. | 1.09% | 200,390 | $5.2M | Reduce -3.8% |
| SJM The JM Smucker Co. filed as SMUCKER J M CO | 1.03% | 51,430 | $5.0M | Add +4.2% |
| HPQ HP Inc. | 1.01% | 252,139 | $4.8M | Add +1.7% |
| AMZN Amazon.com Inc. | 0.82% | 18,820 | $3.9M | New |
| MO Altria Group Inc. | 0.80% | 58,483 | $3.9M | Add +490.7% |
| QCOM Qualcomm Inc. | 0.76% | 28,265 | $3.6M | Add +4.2% |
| PANW Palo Alto Networks Inc. | 0.75% | 22,625 | $3.6M | New |
| IGSB iShares 1-5Y Inv Grade Corp. | 0.68% | 61,800 | $3.2M | New |
| BKR Baker Hughes Co. | 0.66% | 51,750 | $3.2M | Reduce -65.3% |
| FLG Flagstar Bank NA | 0.63% | 230,000 | $3.0M | Add +81.1% |
| SOFI Sofi Technologies Inc. | 0.56% | 169,800 | $2.7M | Add +1598.0% |
| DOW Dow Inc. filed as DOW HLDGS INC | 0.55% | 63,251 | $2.6M | Reduce -62.6% |
| QQQ Invesco QQQ Trust Series 1 | 0.54% | 4,511 | $2.6M | New |
| RSP Invesco S&P 500 Equal Weight | 0.50% | 12,620 | $2.4M | New |
| BRK.B Berkshire Hathaway Inc. Class B | 0.46% | 4,590 | $2.2M | Reduce -34.9% |
| FHI Federated Hermes Inc. | 0.44% | 37,050 | $2.1M | Reduce -40.5% |
| JNJ Johnson & Johnson | 0.43% | 8,400 | $2.1M | Reduce -5.2% |
| DAL Delta Air Lines Inc. | 0.42% | 30,550 | $2.0M | Reduce -73.2% |
| VWO Vanguard Ftse Emerging Marke | 0.42% | 37,045 | $2.0M | Add +640.9% |
| FITB Fifth Third Bancorp | 0.37% | 38,350 | $1.8M | Reduce -14.5% |
| META Meta Platforms Inc. Class A | 0.36% | 3,025 | $1.7M | New |
| XLK SS Technology Select Sector | 0.35% | 12,644 | $1.7M | Add +12.5% |
| FSLR First Solar Inc. | 0.35% | 8,435 | $1.7M | Add +1.0% |
| VTI VG Morningstar TS MKT ETF-US | 0.34% | 5,059 | $1.6M | No change |
| JFR Nuveen Floating Rate Income | 0.31% | 197,523 | $1.5M | New |
| MPLX MPLX LP | 0.31% | 25,872 | $1.5M | New |
| NFLX Netflix Inc. | 0.30% | 15,000 | $1.4M | New |
| EPD Enterprise Products Partners | 0.29% | 37,447 | $1.4M | New |
| SDY SS SPDR S&P Dividend ETF | 0.29% | 9,435 | $1.4M | Reduce -1.8% |
| MSD Morgan Stanley Emrg MKT Debt | 0.29% | 195,600 | $1.4M | New |
| PWR Quanta Services Inc. | 0.29% | 2,500 | $1.4M | New |
| VB Vanguard Most SM-Cap ETF-Usd | 0.27% | 4,925 | $1.3M | New |
| TBF Proshares Short 20+ Treasury | 0.27% | 53,100 | $1.3M | New |
| TSLA Tesla Inc. | 0.27% | 3,450 | $1.3M | New |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.26% | 4,410 | $1.3M | New |
| TRGP Targa Resources Corp. | 0.26% | 4,998 | $1.3M | New |
| CRM Salesforce Inc. | 0.25% | 6,450 | $1.2M | New |
| FFIN First Finl Bankshares Inc. | 0.25% | 40,000 | $1.2M | Reduce -29.8% |
| XAWFX Alliancebernstein GL Hi Inc. | 0.23% | 109,380 | $1.1M | New |
| ET Energy Transfer LP | 0.23% | 57,141 | $1.1M | New |
| FCT First Trust SNR FL RT Inc. II | 0.23% | 113,800 | $1.1M | New |
| PLTR Palantir Technologies Inc. Class A | 0.22% | 7,250 | $1.1M | New |
| XEFRX Eaton Vance Sr FLTG Rate TR | 0.21% | 96,500 | $1.0M | New |
| DHI D.R. Horton Inc. | 0.20% | 7,060 | $969K | No change |
| LMT Lockheed Martin Corp. | 0.20% | 1,570 | $949K | Add +57.0% |
| JNK SS SPDR BB High Yield Bond | 0.19% | 9,500 | $909K | New |
| MOS The Mosaic Co. | 0.19% | 35,100 | $895K | Reduce -16.6% |
| COST Costco Wholesale Corp. | 0.18% | 880 | $877K | Add +101.8% |
| HEDJ Wisdomtree Europe Hedged Equ | 0.17% | 16,010 | $837K | New |
| APO Apollo Global Management Inc. | 0.16% | 6,900 | $769K | New |
| MSDL Morgan Stanley Direct Lendin | 0.14% | 48,672 | $679K | New |
| AIRR First Trust Rba American Ind | 0.14% | 6,000 | $665K | New |
| SGIOY Shionogi & Co. Ltd.-Unspon ADR | 0.12% | 50,900 | $564K | New |
| WES Western Midstream Partners L | 0.11% | 13,308 | $548K | New |
| ETN Eaton Corp. PLC | 0.11% | 1,500 | $537K | Reduce -37.5% |
| ABT Abbott Laboratories | 0.11% | 5,000 | $513K | Reduce -50.0% |
| CEG Constellation Energy | 0.10% | 1,750 | $489K | New |
Portfolio Sells Q4 2025 → Q1 2026
| GM General Motors Co. | Sold out | 0.00% | −1.43 |
| NRG NRG Energy Inc. | Sold out | 0.00% | −1.30 |
| DAL Delta Air Lines Inc. | Reduce -73.2% | 0.42% | −1.28 |
| VLO Valero Energy Corp. | Reduce -97.4% | 0.04% | −1.14 |
| MCK McKesson Corp. | Sold out | 0.00% | −1.06 |
| BKR Baker Hughes Co. | Reduce -65.3% | 0.66% | −0.81 |
| MMM 3M Co. | Sold out | 0.00% | −0.77 |
| HPE Hewlett Packard Enterprise | Sold out | 0.00% | −0.74 |
| CMCSA Comcast Corp. Class A | Sold out | 0.00% | −0.74 |
| UGI Ugi Corp. | Sold out | 0.00% | −0.70 |
| NEM Newmont Corp. | Reduce -24.3% | 2.65% | −0.70 |
| CPRI Capri Holdings Ltd. | Sold out | 0.00% | −0.69 |
| BIIB Biogen Inc. | Sold out | 0.00% | −0.67 |
| CXW Corecivic Inc. | Sold out | 0.00% | −0.66 |
| BAC Bank of America Corp. | Sold out | 0.00% | −0.61 |
| TNL Travel + Leisure Co. | Sold out | 0.00% | −0.60 |
| OI O-I Glass Inc. | Sold out | 0.00% | −0.56 |
| GOOGL Alphabet Inc. Class A | Reduce -6.3% | 2.71% | −0.55 |
| PM Philip Morris International | Reduce -28.9% | 1.31% | −0.54 |
| CAG Conagra Brands Inc. | Sold out | 0.00% | −0.54 |
| MS Morgan Stanley | Reduce -8.6% | 2.20% | −0.49 |
| LNG Cheniere Energy Inc. | Sold out | 0.00% | −0.48 |
| ABBV Abbvie Inc. | Reduce -12.4% | 1.54% | −0.38 |
| GS Goldman Sachs Group Inc. | Reduce -6.5% | 2.32% | −0.35 |
| PFE Pfizer Inc. | Reduce -20.7% | 2.03% | −0.32 |
| SYY Sysco Corp. | Sold out | 0.00% | −0.32 |
| C Citigroup Inc. | Reduce -4.7% | 2.61% | −0.31 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -34.9% | 0.46% | −0.31 |
| DOW Dow Inc. | Reduce -62.6% | 0.55% | −0.30 |
| MAIN Main Street Capital Corp. | Reduce -1.1% | 1.36% | −0.26 |
| FHI Federated Hermes Inc. | Reduce -40.5% | 0.44% | −0.26 |
| TAP Molson Coors Beverage Co. Class B | Sold out | 0.00% | −0.26 |
| AAPL Apple Inc. | Reduce -6.0% | 1.39% | −0.25 |
| JEPI JPMorgan Equity Premium Inco | Sold out | 0.00% | −0.25 |
| IWD iShares Russell 1000 Value E | Reduce -83.6% | 0.05% | −0.24 |
| CSCO Cisco Systems Inc. | Reduce -5.7% | 2.27% | −0.21 |
| JPM JPMorgan Chase & Co. | Sold out | 0.00% | −0.20 |
| LIN Linde PLC | Sold out | 0.00% | −0.18 |
| HCA HCA Healthcare Inc. | Reduce -8.0% | 1.64% | −0.18 |
| ABT Abbott Laboratories | Reduce -50.0% | 0.11% | −0.16 |
| CLF Cleveland-Cliffs Inc. | Reduce -37.4% | 0.09% | −0.15 |
| RF Regions Financial Corp. | Reduce -3.8% | 1.09% | −0.13 |
| FFIN First Finl Bankshares Inc. | Reduce -29.8% | 0.25% | −0.12 |
| RTX RTX Corp. | Sold out | 0.00% | −0.12 |
| ROST Ross Stores Inc. | Sold out | 0.00% | −0.10 |
| SLB SLB Ltd. | Reduce -26.5% | 1.85% | −0.10 |
| AMGN Amgen Inc. | Sold out | 0.00% | −0.10 |
| FITB Fifth Third Bancorp | Reduce -14.5% | 0.37% | −0.08 |
| BA The Boeing Co. | Sold out | 0.00% | −0.07 |
| MPC Marathon Petroleum Corp. | Sold out | 0.00% | −0.07 |
Portfolio Buys Q4 2025 → Q1 2026
| SPY SS SPDR S&P 500 ETF Trust-US | Add +1644.3% | 2.32% | +2.18 |
| UBER Uber Technologies Inc. | Add +2936.8% | 2.12% | +2.03 |
| UNP Union Pacific Corp. | Add +328.4% | 1.42% | +1.09 |
| LYB Lyondellbasell Indu Class A | Add +19.4% | 2.03% | +1.08 |
| AMZN Amazon.com Inc. | New | 0.82% | +0.82 |
| PANW Palo Alto Networks Inc. | New | 0.75% | +0.75 |
| XOM Exxon Mobil Corp. | Add +11.8% | 2.13% | +0.73 |
| VZ Verizon Communications Inc. | Add +91.0% | 1.24% | +0.69 |
| MO Altria Group Inc. | Add +490.7% | 0.80% | +0.68 |
| IGSB iShares 1-5Y Inv Grade Corp. | New | 0.68% | +0.68 |
| NVDA Nvidia Corp. | Add +55.9% | 2.32% | +0.67 |
| WDS Woodside Energy Group-ADR | Add +4.9% | 1.61% | +0.57 |
| QQQ Invesco QQQ Trust Series 1 | New | 0.54% | +0.54 |
| SOFI Sofi Technologies Inc. | Add +1598.0% | 0.56% | +0.50 |
| RSP Invesco S&P 500 Equal Weight | New | 0.50% | +0.50 |
| KHC The Kraft Heinz Co. | Add +65.2% | 1.54% | +0.50 |
| MSFT Microsoft Corp. | Add +83.7% | 1.87% | +0.49 |
| UPS United Parcel Service Class B | Add +55.5% | 1.31% | +0.43 |
| FCX Freeport-McMoran Inc. | Add +11.9% | 2.12% | +0.42 |
| META Meta Platforms Inc. Class A | New | 0.36% | +0.36 |
| VWO Vanguard Ftse Emerging Marke | Add +640.9% | 0.42% | +0.36 |
| JFR Nuveen Floating Rate Income | New | 0.31% | +0.31 |
| MPLX MPLX LP | New | 0.31% | +0.31 |
| NFLX Netflix Inc. | New | 0.30% | +0.30 |
| EPD Enterprise Products Partners | New | 0.29% | +0.29 |
| MSD Morgan Stanley Emrg MKT Debt | New | 0.29% | +0.29 |
| PWR Quanta Services Inc. | New | 0.29% | +0.29 |
| FLG Flagstar Bank NA | Add +81.1% | 0.63% | +0.29 |
| VB Vanguard Most SM-Cap ETF-Usd | New | 0.27% | +0.27 |
| TBF Proshares Short 20+ Treasury | New | 0.27% | +0.27 |
| TSLA Tesla Inc. | New | 0.27% | +0.27 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | New | 0.26% | +0.26 |
| TRGP Targa Resources Corp. | New | 0.26% | +0.26 |
| CRM Salesforce Inc. | New | 0.25% | +0.25 |
| XAWFX Alliancebernstein GL Hi Inc. | New | 0.23% | +0.23 |
| ET Energy Transfer LP | New | 0.23% | +0.23 |
| FCT First Trust SNR FL RT Inc. II | New | 0.23% | +0.23 |
| BHP BHP Group Ltd.-Spon ADR | Add +1.5% | 1.46% | +0.22 |
| PLTR Palantir Technologies Inc. Class A | New | 0.22% | +0.22 |
| XEFRX Eaton Vance Sr FLTG Rate TR | New | 0.21% | +0.21 |
| GSK GSK PLC-Spon ADR | Add +4.2% | 1.66% | +0.19 |
| JNK SS SPDR BB High Yield Bond | New | 0.19% | +0.19 |
| T AT&T Inc. | Add +2.8% | 1.30% | +0.18 |
| HEDJ Wisdomtree Europe Hedged Equ | New | 0.17% | +0.17 |
| APO Apollo Global Management Inc. | New | 0.16% | +0.16 |
| MSDL Morgan Stanley Direct Lendin | New | 0.14% | +0.14 |
| AIRR First Trust Rba American Ind | New | 0.14% | +0.14 |
| SGIOY Shionogi & Co. Ltd.-Unspon ADR | New | 0.12% | +0.12 |
| WES Western Midstream Partners L | New | 0.11% | +0.11 |
| CEG Constellation Energy | New | 0.10% | +0.10 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026Amended | 127 | $508.4M | GOOGL, C, CSCO, MS, GS |
| Q1 2026 | 130 | $480.5M | CNR, GOOGL, NEM, C, SPY |
| Q4 2025 | 114 | $463.7M | NEM, GOOGL, C, MS, GS |
| Q3 2025 | 106 | $445.4M | NEM, ORCL, GOOGL, PFE, C |
| Q2 2025 | 106 | $404.5M | GS, CSCO, ORCL, NEM, LYB |
| Q1 2025 | 110 | $382.2M | PM, NEM, SLB, PFE, GS |
| Q4 2024 | 105 | $362.6M | PFE, GS, MS, C, AAPL |
| Q3 2024 | 106 | $359.0M | ORCL, ABBV, NEM, GS, PM |
| Q2 2024 | 103 | $336.4M | ABBV, NEM, ORCL, GS, SLB |
| Q1 2024 | 102 | $331.9M | ABBV, NEM, SLB, GS, ORCL |