Hamlin Capital Management: Significant Energy Buys and Selective Sales in Q2 2026
Hamlin Capital Management's portfolio saw notable changes during the quarter ending June 30, 2026. The firm significantly increased its holdings of SLB LIMITED (SLB) and INTERNATIONAL BUSINESS MACHINES (IBM), while reducing positions in several other stocks.
Portfolio Activity Overview
The portfolio managed by Hamlin Capital Management, LLC, registered a total value of $4.3 billion as of June 30, 2026. This quarter's activity saw both strategic additions and reductions across various sectors.
Prominent Purchases: New Positions in Energy and Technology
Hamlin Capital Management demonstrated a significant buying stance during the second quarter by substantially increasing its stake in two companies:
- SLB LIMITED, commonly known as Schlumberger. The fund acquired an additional 572,287 shares of this energy services giant, representing a nearly 53.4% increase in its position over the prior quarter.
- INTERNATIONAL BUSINESS MACHINES (IBM). Hamlin Capital Management initiated or significantly bolstered its position in IBM by adding 193,749 shares during this period.
Their substantial investment in SLB LIMITED suggests confidence in the energy sector's prospects. The firm also took a significant interest in INTERNATIONAL BUSINESS MACHINES (IBM), indicating an opportunistic approach towards Technology stocks that saw share increases.
Notable Sales: Major Reductions and Portfolio Rebalancing
The investor was active in exiting or reducing positions, particularly evident with their largest holdings:
- MORGAN STANLEY (MS). Hamlin Capital Management sold off shares of this Financial Services giant, resulting in an approximate 8.57% decrease in its position.
This sale was part of a broader trend observed across the portfolio where most holdings experienced reductions during the quarter:
- CUMMINS INC (CMI) saw Hamlin's stake decrease by about 8.83%.
- LAMAR ADVERTISING CO (LAMR), a Real Estate player, experienced an 8.57% reduction in its allocation.
- BROADCOM INC (AVGO). Hamlin Capital Management reduced its Technology stake by nearly 9.92%, following the same pattern seen with IBM but showing less confidence or different outlook for this stock.
The decision to sell substantial portions of major holdings like Morgan Stanley and CUMMINS INC (CMI) indicates a deliberate strategy to rebalance the portfolio, potentially adjusting exposure based on market conditions or investment thesis updates during Q2 2026.
Other Changes: Smaller Adjustments and Continued Holdings
Beyond these major shifts, Hamlin Capital Management made several other adjustments:
- OLD REPUBLIC INTERNATIONAL CORP (ORI) experienced a slight reduction of about 1.56%.
- CONOCOPHILLIPS (COP). The Energy allocation saw Hamlin sell shares, leading to approximately a 2.97% decrease in its position.
The firm also maintained positions in several other companies this quarter:
- SNAP ON INC (SNA)
- PUBLIC SERVICE ENTERPRISE GROUP (PEG). Hamlin's stake in Utilities decreased slightly by about 1.08%.
These smaller adjustments, alongside the significant buys and sells, reflect ongoing management of the portfolio to optimize performance based on quarterly analysis.