Hi-Line Capital Management, LLC

Registered adviser

CIK

1776074

Location

WATERTOWN, SD

Portfolio Value

Small $355,406,525

Diversification

Diversified

Filing Date

Global Rank

#4,606 / 8,811 ▲ 260

Top Industry

Insurance - Diversified 20.9%

Period ended 4 months ago

Filed Jul 24, 2026 · 3mo

26 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Oct 1, 2026

Form ADV adviser

CRD 149522

Roster of Oct 1, 2026

Regulatory AUM

$756,593,567

Main clients

Charitable organizations (91% of AUM)

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Mar 2026 to Oct 2026	$756,593,567	Charitable organizations (91%)
Apr 2025 to Feb 2026	$657,780,902	Charitable organizations (89%)
Mar 2024 to Mar 2025	$631,940,945	Charitable organizations (79%)
May 2023 to Feb 2024	$509,829,784	Charitable organizations (84%)
Apr 2023	$509,829,784	Charitable organizations (84%)
Apr 2022 to Mar 2023	$491,198,498	Charitable organizations (91%)

3 earlier changes not shown.

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, never from the firm's own description.

Style

Concentrated

The top 10 positions are 65.7% of the book (60%+)

Turnover

Medium turnover

43.2% over the last four quarters (30% to under 100%)

Horizon

Horizon unknown

The value-weighted holding period is at least 10.1 quarters, but 23.3% of the book was already held when coverage starts

Closest benchmark: the Dow Jones Industrial Average as of 2026-07-31, active share 95.5%; sector active share 45.5% against the combined 13F book's sector weights.

Over time 26 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

32 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

21.0%

+0.6 pts

Top 5

50.2%

+7.4 pts

Top 10

65.7%

+4.1 pts

HHI

870

Diversified+152

Portfolio Trend

26 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Financial Services	26.1%	$92,934,427	6
Unclassified	25.5%	$90,643,105	6
Communication Services	13.4%	$47,781,592	5
Basic Materials	9.8%	$34,783,097	4
Industrials	6.3%	$22,509,691	3
Technology	5.6%	$20,000,059	2
Energy	5.0%	$17,764,107	2
Consumer Cyclical	3.7%	$13,028,413	2
Healthcare	2.4%	$8,688,882	1
Consumer Defensive	2.0%	$7,273,152	1

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
BRO	Brown & Brown, Inc.	+52,012	165,254	$10,601,044
ADBE	Adobe Inc.	+27,465	60,576	$12,419,291
IDEV	iShares Core MSCI International Developed Markets ETF	+23,908	419,487	$37,338,537
IEMG	iShares Trust	+13,261	203,656	$16,870,863
SIRI	Sirius Xm Holdings Inc.	+9,981	677,658	$20,018,017
—		+9,872	346,317	$11,518,503
IJH	iShares Core S&P Mid-Cap ETF	+5,710	97,011	$7,480,518
RSP	Victory Portfolios II	+4,730	74,679	$15,889,450
NE	Noble Corp plc	+4,323	231,912	$8,650,317
VSNT	Versant Media Group, Inc.	+2,083	127,296	$4,583,928
IJR	iShares Core S&P Small-Cap ETF	+2,024	32,580	$4,831,939
BRK-B	Berkshire Hathaway Inc	+1,806	35,777	$17,902,453
GLIBK	Liberty Capital Corp/NV	+1,641	143,164	$3,086,615
CF	CF Industries Holdings, Inc.	+1,556	74,202	$8,033,108
HCC	Warrior Met Coal, Inc.	+1,367	80,456	$6,529,808
DAC	Danaos Corp	+1,219	61,467	$7,521,716
MHK	Mohawk Industries Inc	+1,152	65,311	$7,924,183
PCAR	Paccar Inc	+798	42,812	$5,142,577
AER	AerCap Holdings N.V.	+743	67,536	$9,845,398
CRH	Crh Public Ltd Co	+727	77,483	$8,290,681
EXP	Eagle Materials Inc	+688	53,020	$11,929,500
IVV	iShares Core S&P 500 ETF	+665	10,992	$8,231,798
CI	Cigna Group	+575	31,518	$8,688,882
CB	Chubb Ltd	+549	32,537	$11,086,657
AXP	American Express Co	+370	21,290	$7,201,342
No positions match the current search.

Trimmed

Positions the filer reduced

1 positions

Ticker	Company	Δ Shares	Shares	Value	Open
JPM	Jpmorgan Chase & Co	−4,061	26,580	$8,700,431
No positions match the current search.

New Positions

Positions the filer opened this quarter

4 positions

Ticker	Company	Shares	Value
SU	Suncor Energy Inc	169,780	$9,113,790
CMCSA	Comcast Corp	349,268	$8,574,529
UBER	Uber Technologies, Inc	105,055	$7,580,768
KR	Kroger Co	130,977	$7,273,152
No positions match the current search.

Sold Out

Positions the filer fully exited

4 positions

Ticker	Company	Shares	Value
MKL	Markel Group Inc.	3,607	$6,904,050
AMCR	Amcor plc	172,208	$6,845,268
UPS	United Parcel Service Inc	66,687	$6,560,667
CHTR	Charter Communications, Inc. /Mo/	1,369	$295,539
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

32 tracked positions · $355,406,525 total · filing declares 32 positions · $355,452,624 · as of Jun 30, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Technology

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
BRK-A	Berkshire Hathaway Inc Financial Services	Held	50	0	$37,442,500	+4.3%	26+	before history	10.54%
IDEV	iShares Core MSCI International Developed Markets ETF	Added	419,487	+23,908	$37,338,537	—	7	unpriced	10.51%
SIRI	Sirius Xm Holdings Inc. Communication Services	Added	677,658	+9,981	$20,018,017	+29.9%	8	unpriced	5.63%
BRK-B	Berkshire Hathaway Inc Financial Services	Added	35,777	+1,806	$17,902,453	+10.0%	26+	before history	5.04%
IEMG	iShares Trust	Added	203,656	+13,261	$16,870,863	—	7	unpriced	4.75%
RSP	Victory Portfolios II	Added	74,679	+4,730	$15,889,450	+18.4%	7	$183.20	4.47%
ADBE	Adobe Inc. Technology	Added	60,576	+27,465	$12,419,291	+54.3%	3	$281.97	3.49%
EXP	Eagle Materials Inc Basic Materials	Added	53,020	+688	$11,929,500	+20.3%	6	$223.53	3.36%
		Added	346,317	+9,872	$11,518,503	−31.9%	26+	before history	3.24%
CB	Chubb Ltd Financial Services	Added	32,537	+549	$11,086,657	+6.3%	12	$213.53	3.12%
BRO	Brown & Brown, Inc. Financial Services	Added	165,254	+52,012	$10,601,044	+43.6%	2	$68.59	2.98%
AER	AerCap Holdings N.V. Industrials	Added	67,536	+743	$9,845,398	+7.5%	5	$122.21	2.77%
SU	Suncor Energy Inc Energy	NEW	169,780	NEW	$9,113,790	NEW	1	$63.33	2.56%
JPM	Jpmorgan Chase & Co Financial Services	Reduced	26,580	-4,061	$8,700,431	−3.5%	26+	before history	2.45%
CI	Cigna Group Healthcare	Added	31,518	+575	$8,688,882	+5.3%	4	$288.09	2.44%
NE	Noble Corp plc Energy	Added	231,912	+4,323	$8,650,317	−22.5%	3	$36.29	2.43%
CMCSA	Comcast Corp Communication Services	NEW	349,268	NEW	$8,574,529	NEW	1	$25.81	2.41%
CRH	Crh Public Ltd Co Basic Materials	Added	77,483	+727	$8,290,681	+2.8%	8	$87.02	2.33%
IVV	iShares Core S&P 500 ETF	Added	10,992	+665	$8,231,798	—	7	unpriced	2.32%
CF	CF Industries Holdings, Inc. Basic Materials	Added	74,202	+1,556	$8,033,108	−14.8%	2	$102.31	2.26%
MHK	Mohawk Industries Inc Consumer Cyclical	Added	65,311	+1,152	$7,924,183	+25.4%	5	$109.52	2.23%
UBER	Uber Technologies, Inc Technology	NEW	105,055	NEW	$7,580,768	NEW	1	$73.33	2.13%
DAC	Danaos Corp Industrials	Added	61,467	+1,219	$7,521,716	+10.8%	5	$88.10	2.12%
IJH	iShares Core S&P Mid-Cap ETF	Added	97,011	+5,710	$7,480,518	—	7	unpriced	2.10%
KR	Kroger Co Consumer Defensive	NEW	130,977	NEW	$7,273,152	NEW	1	$65.24	2.05%
AXP	American Express Co Financial Services	Added	21,290	+370	$7,201,342	+13.8%	26+	before history	2.03%
HCC	Warrior Met Coal, Inc. Basic Materials	Added	80,456	+1,367	$6,529,808	−11.4%	5	$49.10	1.84%
PCAR	Paccar Inc Industrials	Added	42,812	+798	$5,142,577	+6.0%	5	$93.55	1.45%
GRBK	Green Brick Partners, Inc. Consumer Cyclical	Added	63,771	+337	$5,104,230	+24.8%	2	$70.35	1.44%
IJR	iShares Core S&P Small-Cap ETF	Added	32,580	+2,024	$4,831,939	—	7	unpriced	1.36%
VSNT	Versant Media Group, Inc. Communication Services	Added	127,296	+2,083	$4,583,928	−1.1%	2	$33.80	1.29%
GLIBK	Liberty Capital Corp/NV Communication Services	Added	143,164	+1,641	$3,086,615	−41.4%	4	$36.92	0.87%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.