What smart money is saying about HF Sinclair
No fund has written a full thesis on HF Sinclair in our archive, but 3 fund letters report a position in it — most recently Cambiar Investors SMID Fund in September 2026.
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Position history
Between Q2 2026 and Q3 2026, 3 fund letters reported a position in HF Sinclair, with 2 sells (trimmed or exited).
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 1 | 0 | 1 | 0 |
| Q2 2026 | 2 | 0 | 1 | 0 |
Bought and Sold count moves: the same sentence published by several funds of one house in a quarter counts once.
Fund activity · 3 positions · 2 moves
- TrimmedCambiar Investors SMID FundSeptember 2026
“Given the potential for oil prices to contract upon resolution of the Middle East conflict, we chose to have limited exposure in the Energy sector with a single position in HF Sinclair – which operates branded gas stations and also has a refining segment. The blowout in crack spreads (measures how much refiners earn from turning oil into diesel and gasoline) has resulted in windfall profits for Sinclair in recent quarters, with the stock more than doubling in 2026. Given the reduced upside, we sold the position in favor of Expand Energy, which is the largest natural gas producer in the U.S.”
HF Sinclair - June 2026
“After leading to the upside in the first quarter, the Energy sector declined in 2Q, as settlement talks with Iran led to a decline in oil prices. Cambiar’s sole holding in the sector is HF Sinclair, which sidestepped the sector weakness and posted a solid gain for the quarter.”
HF Sinclair - June 2026
Listed in Distillate Capital Multi-Strategy’s reported holdings.
HF Sinclair
Also mentioned · 1
These funds discuss HF Sinclair — as a competitor, benchmark or comparable — without disclosing a position in it.
- MentionedCambiar Smid Cap fundMarch 2026
“Never short on catchy abbreviations, Wall Street’s newest term that is gaining traction is HALO – high asset, low obsolescence companies. It is one thing to use agentic AI to write code, handle call center service functions, or optimize digital workflows. Yet AI cannot be a substitute for necessary hydrocarbons provided by HF Sinclair, replace key assets such as Saia’s logistics networks, or provide teeth-straightening technology (e.g., Align Technology).”
HF Sinclair
Read the letters behind these HF Sinclair positions
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