HOURGLASS CAPITAL, LLC

CIK 0001442573 · Q2 2026

13F Equity AUM

$508.4M

+5.8% QoQ

Positions

127

-3 QoQ

AUM Rank

#3,631

Top 42%

Skill Alpha (FF)

-0.2%/yr^ns

No Clear Edge

Rank #2,999 · Top 36%

vs S&P -1.2%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 14.2%Top 10: 26.1%Top 20: 43.2%

GOOGL3.2%

TRVC3.0%

CSCO2.8%

DWD2.6%

GS2.6%

SPY2.5%

NVDA2.5%

CNR2.5%

NEM2.2%

UBER2.2%

Others (117)73.8%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Financial Services20.9%

Technology19.9%

Energy14.2%

Healthcare7.9%

Basic Materials7.4%

Communication Services6.0%

Industrials5.7%

Consumer Defensive5.6%

Other12.4%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 127Median: 0.37%Avg: 0.79%

0–0.5%

71(13.2%)

0.5–1%

9(6.5%)

1–3%

46(77.1%)

3–5%

1(3.2%)

5%+

0(0.0%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 0Unique: 127vs 20 funds

0%Low

127

Fund positions

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

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Position Changes This Quarter

New4Increased34Decreased44Exited7

New Positions

DON0.1%

+1K

GLW0.1%

+1K

DVN0.1%

+6K

SUN0.0%

+3K

Increased

BAC1.3%

+43K(+36%)

CNR2.5%

+32K(+26%)

KHC1.6%

+21K(+7%)

MO1.1%

+20K(+34%)

SOFI0.7%

+19K(+11%)

UBER2.2%

+14K(+10%)

VO0.3%

+13K(+300%)

PFE1.7%

+10K(+3%)

IGSB0.7%

+9K(+15%)

MOS0.2%

+6K(+17%)

Decreased

FCX1.8%

-25,010(-14%)

DAL0.2%

-19,350(-63%)

CSCO2.8%

-17,832(-13%)

SGIOY0.1%

-7,000(-14%)

ZBH1.2%

-5,740(-7%)

MSD0.3%

-4,100(-2%)

JFR0.3%

-3,699(-2%)

IRM1.6%

-3,650(-5%)

VLY1.5%

-3,616(-1%)

SLB1.6%

-2,900(-2%)

Exited

-6,900

-53,200

-2,600

-6,500

-5,276

-5,700

-25,000

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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