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 (SITE 1.30%), 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 (SITE 1.30%), 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.