SiteOne Stock Up 14% in One Year as This Fund Discloses $26 Million Sale

On February 17, 2026, 59 North Capital Management disclosed a sale of 208,619 shares of SiteOne Landscape Supply (NYSE:SITE), an estimated $26.41 million trade based on quarterly average pricing.

What happened

According to a Securities and Exchange Commission (SEC) filing dated February 17, 2026, 59 North Capital Management sold 208,619 shares of SiteOne Landscape Supply (NYSE:SITE), with the estimated value of the transaction at $26.41 million based on the average closing price during the fourth quarter. The quarter-end value of the SITE position decreased by $33.04 million, incorporating both share sales and price changes.

What else to know

• This was a reduction of the stake, which now represents 5.65% of 13F reportable assets under management.
• Top five holdings after the filing:
  • NYSE: AER: $475.93 million (14.8% of AUM)
  • NYSE: DTM: $365.06 million (11.4% of AUM)
  • NASDAQ: NWSA: $338.63 million (10.5% of AUM)
  • NYSE: KMI: $312.66 million (9.7% of AUM)
  • NYSE: LPX: $285.64 million (8.9% of AUM)
• As of Tuesday, SITE shares were priced at $140.14, up 13% over the past year and slightly underperforming the S&P 500’s roughly 16% gain in the same period.

Company overview

Company snapshot

• SITE offers approximately 180,000 SKUs, including irrigation supplies, fertilizers, control products, landscape accessories, nursery goods, hardscapes, and outdoor lighting products.
• The company operates a wholesale distribution model, generating revenue through direct sales to landscape professionals via a broad branch network and direct distribution channels.
• It serves residential and commercial landscape professionals focused on the design, installation, and maintenance of outdoor spaces across the United States and Canada.

SiteOne Landscape Supply is a leading distributor of landscape supplies in North America, with a diversified product portfolio and a strong branch network. The company leverages its scale and consultative services to provide comprehensive solutions to professional customers. Its broad offering and established presence position it as a key partner for landscape professionals seeking efficiency and product variety.

What this transaction means for investors

Even after the trim, SiteOne remains a meaningful 6% of 59 North’s reported assets, sitting alongside infrastructure and asset-heavy names like AER, DTM and KMI. That tells you this was likely risk management, not a thesis break.

Fundamentally, the business looks durable. Full year 2025 net sales rose 4% to $4.7 billion, with net income climbing 23% to $151.8 million. Adjusted EBITDA increased 10% to $414.2 million, and the company generated $300.5 million in operating cash flow. Gross margin improved to 34.8% for the year, and leverage remains conservative with net debt to EBITDA at 0.8x.

That balance sheet strength matters in a cyclical end market tied to housing and commercial construction. Management expects low single-digit organic growth in 2026 and further margin expansion.

For long-term investors, the takeaway is discipline. SiteOne is not a hyper-growth story, but it throws off cash, repurchases shares, and maintains pricing power. Trimming into relative strength while keeping a sizable position fits a portfolio built around durable operators.

Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Kinder Morgan. The Motley Fool recommends AerCap and recommends the following options: long January 2027 $60 calls on AerCap. The Motley Fool has a disclosure policy.