Hi-Line Capital Management provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, and selecting other managers.
Hi-Line Capital Management reports 128 clients. They include 84 individual clients, 33 high-net-worth individuals and 11 charitable organizations. Of its assets, 96.0% ($726M across 219 accounts) are managed with discretion; $30.3M across 6 accounts are not.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 66% | <1% |
| High-net-worth individuals | 26% | 5% |
| Charitable organizations | 9% | 91% |
| Other investment advisers | Fewer than 5 | 3% |
| Corporations and other businesses | Fewer than 5 | <1% |
Client shares use reported counts. Client types without a reported count are excluded from that total.
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 84 | $6.08M | 0.8% | $72.4K |
| High-net-worth individuals | 33 | $41.1M | 5.4% | $1.25M |
| Charitable organizations | 11 | $685M | 90.5% | $62.3M |
| Other investment advisers | Fewer than 5 | $22.5M | 3.0% | — |
| Corporations and other businesses | Fewer than 5 | $1.78M | 0.2% | — |
| Total | 128 | $757M | 100% | — |
- Clients
- 84
- Regulatory AUM
- $6.08M
- AUM share
- 0.8%
- Avg. per client
- $72.4K
- Clients
- 33
- Regulatory AUM
- $41.1M
- AUM share
- 5.4%
- Avg. per client
- $1.25M
- Clients
- 11
- Regulatory AUM
- $685M
- AUM share
- 90.5%
- Avg. per client
- $62.3M
- Clients
- Fewer than 5
- Regulatory AUM
- $22.5M
- AUM share
- 3.0%
- Avg. per client
- —
- Clients
- Fewer than 5
- Regulatory AUM
- $1.78M
- AUM share
- 0.2%
- Avg. per client
- —
Total
- Clients
- 128
- Regulatory AUM
- $757M
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 0
Hi-Line Capital Management is paid through a percentage of assets under management; its fees and minimums are set out in its brochures on the SEC website.
Michael Anderson owns 75% or more of Hi-Line Capital Management. The leadership team of Hi-Line Capital Management includes President Michael Anderson and Chief Compliance Officer Matthew Roby. It has 5 employees, 2 of them in advisory roles.
Leadership
- Michael AndersonMember, President, and Chief Investment Officer
- Matthew RobyVice President, Chief Compliance Officer, General Counsel
Investment adviser representatives
2 representatives listed in the SEC register as of 9 October 2026.
- Michael Eugene Anderson
- Matthew Thomas Roby
Staff
- 5 employees
- 2 in advisory functions
- 2 state-registered reps
- 1 insurance agent
- 1 soliciting firm
- Owns 75% or more of Hi-Line Capital Management, LLC
Michael Anderson
Control person · since March 2010
Hi-Line Capital Management’s regulatory assets grew 2.3× from $332M (March 2021) to $757M (April 2026); clients rose from 83 to 128 and employees from 4 to 5.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| April 2026 | $757M | 128 | 5 | 1 |
| March 2025 | $658M | 152 | 5 | 1 |
| July 2024 | $632M | 190 | 7 | 1 |
| April 2023 | $510M | 125 | 8 | 1 |
| April 2022 | $491M | 100 | 5 | 1 |
| March 2021 | $332M | 83 | 4 | 1 |
Besides its headquarters, Hi-Line Capital Management has 0 offices, with 1 listed address in South Dakota.
South Dakota · 1 listed address
- 1200 33rd Street Se, Suite #309, WatertownHQ
Contact and registration details
- Legal name
- Hi-Line Capital Management, LLC
- Headquarters
- 1200 33rd Street Se, Suite #309, Watertown, SD 57201
- Website
- hi-linecapital.com
- Phone
- 605-878-0897
- @hi-line-capital-management-llc
- SEC file
- 801-87167
- Structure
- South Dakota LLC
- Fiscal year end
- December
Hi-Line Capital Management uses Charles Schwab ($725M) as custodian for its separately managed accounts. Hi-Line Capital Management does not have custody of client assets.
- Charles SchwabCharles Schwab & Co., Inc. · San Francisco, CA · $725M100%
At year end, Hi-Line Capital Management’s separately managed accounts were largely in bonds (47%) and stocks (42%). Its reported 13F holdings for the quarter ended 30 June 2026 total $355M across 32 positions; the largest are Berkshire Hathaway Inc. Del (10.5%), iShares TR (10.5%) and Siriusxm Holdings Inc. (5.6%).
What the accounts hold
- Stocks42%
- Funds3%
- Bonds47%
- U.S. government and agency bonds30%
- Investment grade corporate bonds17%
- Cash8%
Reported 13F holdings
- $355M
- Reported 13F value
- 32
- Positions
- 54.1%
- In the 10 largest
- +11.7%
- Value vs. prior quarter
- Berkshire Hathaway Inc. Del · CL A10.5%
- iShares TR · Core MSCI Intl10.5%
- Siriusxm Holdings Inc.5.6%
- Berkshire Hathaway Inc. Del · CL B New5.0%
- iShares Inc. · Core MSCI Emkt4.7%
- Invesco Exchange Traded FD T · S&P500 Eql Wgt4.5%
- Adobe Inc.3.5%
- Eagle Matls Inc.3.4%
- Liberty Broadband Corp. · Com Ser C3.2%
- Chubb Limited3.1%
Together, the ten largest are 54.1% of reported value.
How many clients does Hi-Line Capital Management have?
Hi-Line Capital Management has 128 clients and manages $757 million for them, as of April 2026. They include 84 individual clients, 33 high-net-worth individuals and 11 charitable organizations.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 21 April 2026
What services does Hi-Line Capital Management offer?
Hi-Line Capital Management provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, and selecting other managers.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Hi-Line Capital Management use?
Hi-Line Capital Management’s separately managed account assets are held at Charles Schwab & Co., Inc. (San Francisco, CA), with $725M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 21 April 2026
How many financial advisors does Hi-Line Capital Management have?
Hi-Line Capital Management has 2 investment adviser representatives registered with state securities authorities, out of 5 employees, and 2 perform investment advisory functions. 0 employees are registered representatives of a broker-dealer and 1 employee is a licensed insurance agent.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Hi-Line Capital Management invest in?
At the end of its last fiscal year, Hi-Line Capital Management’s separately managed accounts held 42% exchange-traded equities, 30% U.S. government and agency bonds, 17% investment grade corporate bonds, 8% cash and equivalents and 3% pooled vehicles (private funds and similar).
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Hi-Line Capital Management?
Hi-Line Capital Management’s direct owner is Michael Anderson (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 21 April 2026
How does Hi-Line Capital Management get paid?
Hi-Line Capital Management is paid through a percentage of assets under management. Its Form ADV lists no commissions or performance-based fees among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
How do I contact Hi-Line Capital Management?
Hi-Line Capital Management’s main office is at 1200 33rd Street Se, Suite #309, Watertown, SD 57201. Its phone number is 605-878-0897. Its website is hi-linecapital.com.