Hi-line Capital Management 13F annual report

Hi-line Capital Management is an investment fund managing more than $238 billion ran by Matthew Roby. There are currently 31 companies in Mr. Roby’s portfolio. The largest investments include Berkshire Hathaway and Jpmorgan Chase Co., together worth $69.7 billion.

Limited to 30 biggest holdings

$238 billion Assets Under Management (AUM)

As of 24th July 2024, Hi-line Capital Management’s top holding is 40,854 shares of Berkshire Hathaway currently worth over $49 billion and making up 20.6% of the portfolio value. Relative to the number of outstanding shares of Berkshire Hathaway, Hi-line Capital Management owns less than approximately 0.1% of the company. In addition, the fund holds 101,945 shares of Jpmorgan Chase Co. worth $20.6 billion. The third-largest holding is Liberty Global Ltd worth $18.3 billion and the next is Liberty Media worth $14.7 billion, with 661,586 shares owned.

Currently, Hi-line Capital Management's portfolio is worth at least $238 billion. The total portfolio value may be much higher due to cash assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.

Careers at Hi-line Capital Management

The Hi-line Capital Management office and employees reside in Watertown, South Dakota. According to the last 13-F report filed with the SEC, Matthew Roby serves as the Chief Compliance Officer at Hi-line Capital Management.

Recent trades

In the most recent 13F filing, Hi-line Capital Management revealed that it had opened a new position in Markel Inc and bought 722 shares worth $1.14 billion. This means they effectively own approximately 0.1% of the company. Markel Inc makes up 1.6% of the fund's Finance sector allocation and has grown its share price by 7.8% in the past year.

The investment fund also strengthened its position in Viasat by buying 21,054 additional shares. This makes their stake in Viasat total 322,139 shares worth $4.09 billion. Viasat dropped 51.2% in the past year.

On the other hand, there are companies that Hi-line Capital Management is getting rid of from its portfolio. Hi-line Capital Management closed its position in Merck Co Inc on 31st July 2024. It sold the previously owned 80,534 shares for $10.7 billion. Matthew Roby also disclosed a decreased stake in Berkshire Hathaway by 0.1%. This leaves the value of the investment at $49 billion and 40,854 shares.

One of the smallest hedge funds

The two most similar investment funds to Hi-line Capital Management are Baker Tilly Wealth Management and Prudent Investors Network, Inc. They manage $238 billion and $238 billion respectively.

Matthew Roby investment strategy

Hi-line Capital Management’s portfolio is diversified across 8 sectors. Currently, their heaviest sector is Finance — making up 30.3% of the total portfolio value. The fund focuses on investments in the United States as 54.8% of the portfolio companies are based in the United States.

The majority of the companies in the fund’s portfolio are large-cap stocks. Stocks with a size of more than $10 billion in market cap make up 39% of the total holdings value. On the other hand, small-cap stocks make up only 3.2% of the portfolio. The average market cap of the portfolio companies is close to $62.3 billion.

The complete list of Hi-line Capital Management trades based on 13F SEC filings

These positions were updated on July 31st based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.

Security	Shares Owned	Value	Allocation
Berkshire Hathaway Inc.	13.39% 40,854	$49,046,620,000	20.60%
Jpmorgan Chase Co.	4.87% 101,945	$20,619,396,000	8.66%
Liberty Global Ltd	4.57% 1,050,768	$18,314,886,000	7.69%
Liberty Media Corp.	0.10% 661,586	$14,660,746,000	6.16%
Conocophillips	4.87% 121,369	$13,882,186,000	5.83%
Phillips 66	4.93% 96,917	$13,681,773,000	5.75%
T-Mobile US, Inc.	4.85% 77,303	$13,619,243,000	5.72%
Brookfield Corp	4.91% 309,680	$12,864,107,000	5.40%
American Express Co.	4.96% 48,802	$11,300,103,000	4.75%
Merck Co Inc	Closed 80,534	$10,687,836,000
Chubb Limited	4.91% 35,263	$9,028,511,000	3.79%
Lockheed Martin Corp.	4.86% 15,822	$7,390,456,000	3.10%
Liberty Broadband Corp	5.00% 152,105	$8,310,119,000	3.49%
Abbvie Inc	Closed 35,982	$6,552,322,000
Alibaba Group Hldg Ltd	4.75% 76,173	$5,616,801,000	2.36%
Pnc Finl Svcs Group Inc	5.00% 35,935	$5,587,174,000	2.35%
Charter Communications Inc N	4.05% 18,274	$5,463,195,000	2.29%
Occidental Pete Corp	4.90% 76,490	$4,838,772,000	2.03%
Warner Bros.Discovery Inc	4.93% 622,356	$4,630,329,000	1.95%
Viasat, Inc.	6.99% 322,139	$4,091,165,000	1.72%
Sprouts Fmrs Mkt Inc	Closed 32,702	$2,108,625,000
Equity Comwlth	No change 97,805	$1,897,417,000	0.80%
Marathon Oil Corporation	61.02% 58,151	$1,667,189,000	0.70%
Affiliated Managers Group In	No change 9,990	$1,560,738,000	0.66%
Cable One Inc	69.85% 4,017	$1,422,018,000	0.60%
Century Cmntys Inc	Closed 13,007	$1,255,176,000
Ally Finl Inc	No change 30,801	$1,221,876,000	0.51%
Brookfield Asset Managmt Ltd	4.65% 31,620	$1,203,141,000	0.51%
Markel Group Inc	Opened 722	$1,137,627,000	0.48%
Arrow Electrs Inc	No change 9,206	$1,111,717,000	0.47%
HF Sinclair Corporation	No change 20,775	$1,108,139,000	0.47%
Molson Coors Beverage Company	Closed 15,841	$1,065,307,000
Coterra Energy Inc	Closed 35,074	$977,863,000
Globe Life Inc	No change 10,386	$854,560,000	0.36%
Glacier Bancorp, Inc.	No change 19,199	$716,507,000	0.30%
Viatris Inc.	No change 57,957	$616,083,000	0.26%
Nexstar Media Group Inc	No change 3,569	$592,490,000	0.25%
Liberty Media Corp.	Closed 7,467	$327,204,000
No transactions found
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