# HOURGLASS CAPITAL, LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1442573. Source: https://holderbook.com/funds/1442573-hourglass-capital-llc/

- Reported value: $962.3M
- Positions: 127
- Weight of the ten largest: 26.3%
- Filed: 2026-07-29

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $30.5M | 85,292 | 3.2% | 31 |
| CITIGROUP INC | [C](https://holderbook.com/stocks/C/) | $28.3M | 202,274 | 2.9% | 31 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $26.9M | 229,120 | 2.8% | 31 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $25.8M | 34,540 | 2.7% | 31 |
| MORGAN STANLEY | [MS](https://holderbook.com/stocks/MS/) | $25.1M | 119,840 | 2.6% | 31 |
| GOLDMAN SACHS GROUP INC | [GS](https://holderbook.com/stocks/GS/) | $25.0M | 24,745 | 2.6% | 31 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $24.4M | 121,956 | 2.5% | 8 |
| CORE NATURAL RESOURCES INC | [CNR](https://holderbook.com/stocks/CNR/) | $23.8M | 297,702 | 2.5% | 6 |
| NEWMONT CORP | [NEM](https://holderbook.com/stocks/NEM/) | $21.4M | 229,240 | 2.2% | 14 |
| UBER TECHNOLOGIES INC | [UBER](https://holderbook.com/stocks/UBER/) | $21.4M | 296,420 | 2.2% | 3 |
| FREEPORT-MCMORAN INC | [FCX](https://holderbook.com/stocks/FCX/) | $17.8M | 282,856 | 1.8% | 23 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $17.2M | 46,082 | 1.8% | 31 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $16.8M | 44,546 | 1.7% | 26 |
| KIRBY CORP | [KEX](https://holderbook.com/stocks/KEX/) | $16.6M | 121,830 | 1.7% | 21 |
| PFIZER INC | [PFE](https://holderbook.com/stocks/PFE/) | $15.9M | 661,696 | 1.7% | 31 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $15.8M | 62,660 | 1.6% | 31 |
| IRON MTN INC DEL | [IRM](https://holderbook.com/stocks/IRM/) | $15.7M | 124,600 | 1.6% | 18 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $15.7M | 114,671 | 1.6% | 31 |
| WILLIAMS COS INC | [WMB](https://holderbook.com/stocks/WMB/) | $15.5M | 208,420 | 1.6% | 31 |
| PALO ALTO NETWORKS INC | [PANW](https://holderbook.com/stocks/PANW/) | $15.4M | 45,250 | 1.6% | 2 |
| KRAFT HEINZ CO | [KHC](https://holderbook.com/stocks/KHC/) | $15.4M | 652,660 | 1.6% | 11 |
| KINDER MORGAN INC DEL | [KMI](https://holderbook.com/stocks/KMI/) | $15.0M | 468,438 | 1.6% | 28 |
| SLB LIMITED | [SLB](https://holderbook.com/stocks/SLB/) | $14.9M | 320,460 | 1.5% | 31 |
| BHP BILLITON LIMITED | [BHP](https://holderbook.com/stocks/BHP/) | $14.8M | 177,580 | 1.5% | 31 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $14.8M | 100,934 | 1.5% | 31 |
| UNION PAC CORP | [UNP](https://holderbook.com/stocks/UNP/) | $14.5M | 53,392 | 1.5% | 3 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $14.5M | 128,100 | 1.5% | 26 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $14.4M | 40,909 | 1.5% | 31 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $14.2M | 49,054 | 1.5% | 31 |
| VALLEY NATL BANCORP | [VLY](https://holderbook.com/stocks/VLY/) | $14.1M | 961,200 | 1.5% | 31 |
| GSK PLC | [GSK](https://holderbook.com/stocks/GSK/) | $14.0M | 267,960 | 1.5% | 6 |
| UNITED PARCEL SVCS INC | [UPS](https://holderbook.com/stocks/UPS/) | $14.0M | 130,100 | 1.5% | 7 |
| LAMAR ADVERTISING CO | [LAMR](https://holderbook.com/stocks/LAMR/) | $13.8M | 88,630 | 1.4% | 8 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $13.3M | 80,278 | 1.4% | 31 |
| INTERNATIONAL BUSINESS MACHS | [IBM](https://holderbook.com/stocks/IBM/) | $13.2M | 46,802 | 1.4% | 31 |
| VERIZON COMMUNICATIONS INC | [VZ](https://holderbook.com/stocks/VZ/) | $12.8M | 301,986 | 1.3% | 31 |
| PHILIP MORRIS INTL INC | [PM](https://holderbook.com/stocks/PM/) | $12.7M | 70,148 | 1.3% | 31 |
| HCA HEALTHCARE INC | [HCA](https://holderbook.com/stocks/HCA/) | $12.2M | 31,170 | 1.3% | 31 |
| LYONDELLBASELL INDUSTRIES NV | [LYB](https://holderbook.com/stocks/LYB/) | $11.9M | 225,686 | 1.2% | 31 |
| MAIN STR CAP CORP | [MAIN](https://holderbook.com/stocks/MAIN/) | $11.8M | 226,500 | 1.2% | 22 |
| ZIMMER BIOMET HOLDINGS INC | [ZBH](https://holderbook.com/stocks/ZBH/) | $11.7M | 135,780 | 1.2% | 31 |
| WOODSIDE ENERGY GROUP LTD | [WDS](https://holderbook.com/stocks/WDS/) | $11.6M | 601,720 | 1.2% | 17 |
| REGIONS FINANCIAL CORP NEW | [RF](https://holderbook.com/stocks/RF/) | $11.0M | 363,480 | 1.1% | 6 |
| VICI PPTYS INC | [VICI](https://holderbook.com/stocks/VICI/) | $10.9M | 411,916 | 1.1% | 17 |
| SMUCKER J M CO | [SJM](https://holderbook.com/stocks/SJM/) | $10.7M | 95,360 | 1.1% | 9 |
| ALTRIA GROUP INC | [MO](https://holderbook.com/stocks/MO/) | $10.4M | 144,930 | 1.1% | 3 |
| HP INC | [HPQ](https://holderbook.com/stocks/HPQ/) | $10.2M | 465,078 | 1.1% | 26 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $9.0M | 37,640 | 0.9% | 2 |
| QUALCOMM INC | [QCOM](https://holderbook.com/stocks/QCOM/) | $8.9M | 48,370 | 0.9% | 31 |
| AT&T INC | [T](https://holderbook.com/stocks/T/) | $8.2M | 394,780 | 0.8% | 31 |
| FLAGSTAR BANK NATIONAL ASSOC | [FLG](https://holderbook.com/stocks/FLG/) | $7.0M | 470,200 | 0.7% | 7 |
| ISHARES TR | [IGSB](https://holderbook.com/stocks/IGSB/) | $6.8M | 129,200 | 0.7% | 2 |
| SOFI TECHNOLOGIES INC | [SOFI](https://holderbook.com/stocks/SOFI/) | $6.8M | 377,400 | 0.7% | 3 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $6.7M | 9,105 | 0.7% | 2 |
| BAKER HUGHES COMPANY | [BKR](https://holderbook.com/stocks/BKR/) | $5.5M | 98,900 | 0.6% | 31 |
| INVESCO EXCHANGE TRADED FD T | [RSP](https://holderbook.com/stocks/RSP/) | $5.4M | 25,240 | 0.6% | 2 |
| SELECT SECTOR SPDR TR | [XLK](https://holderbook.com/stocks/XLK/) | $4.7M | 24,888 | 0.5% | 13 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $4.3M | 8,690 | 0.5% | 31 |
| VANGUARD INTL EQUITY INDEX F | [VWO](https://holderbook.com/stocks/VWO/) | $4.1M | 68,690 | 0.4% | 3 |
| FIFTH THIRD BANCORP | [FITB](https://holderbook.com/stocks/FITB/) | $4.1M | 72,300 | 0.4% | 31 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $4.0M | 15,720 | 0.4% | 31 |
| FEDERATED HERMES INC | [FHI](https://holderbook.com/stocks/FHI/) | $4.0M | 71,600 | 0.4% | 31 |
| FIRST SOLAR INC | [FSLR](https://holderbook.com/stocks/FSLR/) | $3.8M | 16,230 | 0.4% | 6 |
| VANGUARD INDEX FDS | [VTI](https://holderbook.com/stocks/VTI/) | $3.7M | 10,118 | 0.4% | 14 |
| QUANTA SVCS INC | [PWR](https://holderbook.com/stocks/PWR/) | $3.6M | 5,000 | 0.4% | 2 |
| SPDR GOLD TR | [GLD](https://holderbook.com/stocks/GLD/) | $3.5M | 9,460 | 0.4% | 2 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $3.4M | 6,050 | 0.4% | 2 |
| DOW HLDGS INC | [DOW](https://holderbook.com/stocks/DOW/) | $3.3M | 120,400 | 0.3% | 29 |
| VANGUARD INDEX FDS | [VB](https://holderbook.com/stocks/VB/) | $3.0M | 9,850 | 0.3% | 2 |
| MPLX LP | [MPLX](https://holderbook.com/stocks/MPLX/) | $2.9M | 51,744 | 0.3% | 2 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $2.9M | 6,900 | 0.3% | 2 |
| SPDR SERIES TRUST | [SDY](https://holderbook.com/stocks/SDY/) | $2.9M | 18,910 | 0.3% | 31 |
| VANGUARD INDEX FDS | [VO](https://holderbook.com/stocks/VO/) | $2.8M | 35,280 | 0.3% | 2 |
| FIRST FINL BANKSHARES INC | [FFIN](https://holderbook.com/stocks/FFIN/) | $2.8M | 80,000 | 0.3% | 4 |
| ENTERPRISE PRODS PARTNERS L | [EPD](https://holderbook.com/stocks/EPD/) | $2.8M | 74,894 | 0.3% | 2 |
| TARGA RES CORP | [TRGP](https://holderbook.com/stocks/TRGP/) | $2.7M | 9,996 | 0.3% | 2 |
| NUVEEN FLOATING RATE INCOME | [JFR](https://holderbook.com/stocks/JFR/) | $2.6M | 344,388 | 0.3% | 2 |
| MORGAN STANLEY EMKT DBT FD I | [MSD](https://holderbook.com/stocks/MSD/) | $2.4M | 333,000 | 0.3% | 2 |
| PROSHARES TR | [TBF](https://holderbook.com/stocks/TBF/) | $2.4M | 98,100 | 0.2% | 2 |
| D R HORTON INC | [DHI](https://holderbook.com/stocks/DHI/) | $2.3M | 14,120 | 0.2% | 31 |
| ENERGY TRANSFER L P | [ET](https://holderbook.com/stocks/ET/) | $2.2M | 114,282 | 0.2% | 2 |
| NETFLIX INC | [NFLX](https://holderbook.com/stocks/NFLX/) | $2.1M | 30,000 | 0.2% | 2 |
| DELTA AIR LINES INC | [DAL](https://holderbook.com/stocks/DAL/) | $2.1M | 22,400 | 0.2% | 31 |
| FIRST TR SR FLTG RATE INCOME | [FCT](https://holderbook.com/stocks/FCT/) | $2.0M | 207,600 | 0.2% | 2 |
| PALANTIR TECHNOLOGIES INC | [PLTR](https://holderbook.com/stocks/PLTR/) | $2.0M | 16,950 | 0.2% | 2 |
| ALLIANCEBERNSTEIN GLOBAL HIG | [AWF](https://holderbook.com/stocks/AWF/) | $2.0M | 191,760 | 0.2% | 2 |
| WISDOMTREE TR | [HEDJ](https://holderbook.com/stocks/HEDJ/) | $1.8M | 32,020 | 0.2% | 2 |
| LOCKHEED MARTIN CORP | [LMT](https://holderbook.com/stocks/LMT/) | $1.8M | 3,540 | 0.2% | 31 |
| EATON VANCE SR FLTNG RTE TR | [EFR](https://holderbook.com/stocks/EFR/) | $1.8M | 167,000 | 0.2% | 2 |
| MOSAIC CO | [MOS](https://holderbook.com/stocks/MOS/) | $1.7M | 82,200 | 0.2% | 7 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $1.6M | 1,760 | 0.2% | 10 |
| SPDR SERIES TRUST | [JNK](https://holderbook.com/stocks/JNK/) | $1.6M | 16,600 | 0.2% | 2 |
| FIRST TR EXCHANGE TRADED FD | [AIRR](https://holderbook.com/stocks/AIRR/) | $1.6M | 12,000 | 0.2% | 2 |
| SALESFORCE INC | [CRM](https://holderbook.com/stocks/CRM/) | $1.6M | 9,900 | 0.2% | 2 |
| CROWDSTRIKE HLDGS INC | [CRWD](https://holderbook.com/stocks/CRWD/) | $1.5M | 2,000 | 0.2% | 2 |
| MORGAN STANLEY DIRECT LENDIN | [MSDL](https://holderbook.com/stocks/MSDL/) | $1.5M | 97,344 | 0.2% | 2 |
| DATADOG INC | [DDOG](https://holderbook.com/stocks/DDOG/) | $1.3M | 5,000 | 0.1% | 2 |
| EATON CORP PLC | [ETN](https://holderbook.com/stocks/ETN/) | $1.3M | 3,000 | 0.1% | 27 |
| WESTERN MIDSTREAM PARTNERS L | [WES](https://holderbook.com/stocks/WES/) | $1.2M | 26,616 | 0.1% | 2 |
| ARISTA NETWORKS INC | [ANET](https://holderbook.com/stocks/ANET/) | $1.1M | 6,500 | 0.1% | 2 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +5.6% | +14.8% | -9.3% | 100% |
| Q1 2026 | +5.0% | -4.6% | +9.7% | 100% |
| Q4 2025 | +3.0% | +2.4% | +0.7% | 100% |
| Q3 2025 | +8.4% | +7.8% | +0.6% | 100% |
| Q2 2025 | +6.4% | +10.5% | -4.1% | 100% |
| Q1 2025 | +0.4% | -4.6% | +4.9% | 98% |
| Q4 2024 | -0.6% | +2.1% | -2.8% | 100% |
| Q3 2024 | +8.6% | +5.4% | +3.2% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $962.3M | 127 |
| Q1 2026 | $480.5M | 130 |
| Q4 2025 | $463.7M | 114 |
| Q3 2025 | $445.4M | 106 |
| Q2 2025 | $404.5M | 106 |
| Q1 2025 | $382.2M | 110 |
| Q4 2024 | $362.6M | 105 |
| Q3 2024 | $359.0M | 106 |
| Q2 2024 | $336.4M | 103 |
| Q1 2024 | $331.9M | 102 |
| Q4 2023 | $310.5M | 98 |
| Q3 2023 | $283.3M | 99 |