Hill City Capital, LP

BOSTON, MA · CIK 1837343 · 13F filing filed 2026-08-17

SEC-registered investment adviser since 2020 · limited partnership

Assets managed$4.9bn
Staff7 · 5 in investment roles
Main clients (by assets)Private funds 100%
Private funds2 (1 hedge) · $4.9bn gross assets
Websitehillcitycapital.com
Form ADV · 2026-04-08SEC adviser record

Legal entityHILL CITY CAPITAL LP (US)

$4.3bn reported value +53.0% vs Q1 2026

28positions

79.9%in top 10

6 new 10 added 1 reduced 1 sold out vs Q1 2026

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	MASTEC INC COM MTZ	MTZ	2,155,000	$896.6m20.94%	20.94%	Unchanged
2	FIRST SOLAR INC COM FSLR	FSLR	2,628,130	$620.1m14.48%	14.48%	Added +450.6k	+450,590 20.7%
3	DYCOM INDS INC COM DY	DY	1,009,784	$510.5m11.92%	11.92%	Unchanged
4	DPC HOLDINGS PLC ORDINARY SHARES DPC	DPC	7,693,605	$377.4m8.81%	8.81%	New
5	STMICROELECTRONICS N V NY REGISTRY STM	STM	3,100,000	$232.2m5.42%	5.42%	Added +800.0k	+800,000 34.8%
6	INTERNATIONAL PAPER CO COM IP	IP	5,100,000	$194.3m4.54%	4.54%	Added +900.0k	+900,000 21.4%
7	GRANITE CONSTR INC COM GVA	GVA	1,110,248	$175.5m4.10%	4.10%	Added +200	+200 0.0%
8	JAMES HARDIE INDS PLC ORD SHS JHX	JHX	5,723,900	$149.9m3.50%	3.50%	Added +102.2k	+102,200 1.8%
9	BOEING CO COM BA	BA	621,583	$134.6m3.14%	3.14%	Added +70.1k	+70,100 12.7%
10	CEMEX SAB DE CV SPON ADR NEW CX	CX	10,802,750	$129.6m3.03%	3.03%	Unchanged
11	CENTURI HOLDINGS INC COM SHS CTRI	CTRI	4,030,000	$121.9m2.85%	2.85%	Unchanged
12	CRH PLC ORD CRH	CRH	1,106,400	$118.4m2.76%	2.76%	Added +30.0k	+30,000 2.8%
13	ARRAY TECHNOLOGIES INC COM SHS ARRY	ARRY	12,891,300	$95.5m2.23%	2.23%	Unchanged
14	ADVANCED DRAIN SYS INC DEL COM WMS	WMS	480,000	$75.3m1.76%	1.76%	Added +110.0k	+110,000 29.7%
15	ATKORE INC COM ATKR	ATKR	724,106	$55.1m1.29%	1.29%	Reduced -4.1k	-4,100 -0.6%
16	LITTELFUSE INC COM LFUS	LFUS	120,000	$54.6m1.28%	1.28%	New
17	BORGWARNER INC COM BWA	BWA	802,170	$53.3m1.24%	1.24%	New
18	CORE & MAIN INC CL A CNM	CNM	1,028,650	$49.6m1.16%	1.16%	Added +161.1k	+161,050 18.6%
19	ATS CORPORATION COM ATS	ATS	1,649,857	$47.5m1.11%	1.11%	Unchanged
20	WOLFSPEED INC COMMON STOCK WOLF	WOLF	935,000	$45.1m1.05%	1.05%	Added +50.0k	+50,000 5.7%
21	ENERSYS COM ENS	ENS	190,000	$44.4m1.04%	1.04%	Unchanged
22	TREX CO INC COM TREX	TREX	550,000	$27.5m0.64%	0.64%	Unchanged
23	WATERBRIDGE INFRASTRUCTURE L CL A SHS REPSTG WBI	WBI	700,000	$24.0m0.56%	0.56%	Unchanged
24	TFI INTL INC COM TFII	TFII	145,000	$20.8m0.49%	0.49%	Unchanged
25	GARRETT MOTION INC COM GTX	GTX	500,000	$18.1m0.42%	0.42%	New
26	SOLV ENERGY INC COM SHS CL A MWH	MWH	250,000	$8.5m0.20%	0.20%	Unchanged
27	EROCK INC CL A COM EROC	EROC	110,000	$1.6m0.04%	0.04%	New
28	SITEONE LANDSCAPE SUPPLY INC COM SITE	SITE	2,900	$331.8k0.01%	0.01%	New

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
EQUIPMENTSHARE COM INC EQPT	EQPT	750,000	$15.3m750.0k shares

Stakes above 5%

Companies where this manager has reported owning more than 5% of a class of shares, on Schedule 13D (may seek influence) or 13G (passive): its latest filing for each, from 19 Dec 2024 on.

Company	Ticker	Stake	Change	Schedule	Last filed
ARRAY TECHNOLOGIES INC ARRY · 13G · filed 2026-08-10	ARRY	8.4%≈ $95.5m		13G	2026-08-10
DPC HOLDINGS PLC DPC · 13G · filed 2026-08-11	DPC	5.1%≈ $377.4m	new	13G	2026-08-11