Hill City Capital, LP 13F holdings, Q3 2025
Holdings as of September 30, 2025 · filings on SEC EDGAR · latest filing →
Hill City Capital, LP disclosed 22 US equity positions worth $2.4bn in its Q3 2025 13F filing. The largest position was FSLR at 19.5% of the reported book, followed by MTZ and DY. Against the Q2 2025 filing, it opened 4 new positions, added to 5 and reduced 4 among the top 22 holdings.
What did Hill City Capital, LP own in Q3 2025? Top 22 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q2 2025 |
|---|---|---|---|---|---|---|---|
| 1 | FSLR FIRST SOLAR INC | Technology | 19.5% | $460.9m | 2,090,000 | -3% | reduced |
| 2 | MTZ MASTEC INC | Industrials | 19.4% | $458.6m | 2,155,000 | 0% | held |
| 3 | DY DYCOM INDS INC | Industrials | 12.5% | $294.6m | 1,009,784 | 0% | held |
| 4 | CRH CRH PLC | Basic Materials | 5.3% | $125.4m | 1,046,000 | -5% | reduced |
| 5 | GVA GRANITE CONSTR INC | Industrials | 5.1% | $121.7m | 1,110,048 | -0% | held |
| 6 | ARRY ARRAY TECHNOLOGIES INC | Technology | 4.4% | $105.1m | 12,891,300 | -10% | reduced |
| 7 | S9Q SPIRIT AEROSYSTEMS HLDGS INC | 4.3% | $102.4m | 2,652,093 | -33% | reduced | |
| 8 | CX CEMEX SAB DE CV | Basic Materials | 4.1% | $97.1m | 10,802,750 | 154% | added |
| 9 | IP INTERNATIONAL PAPER CO | Consumer Cyclical | 4.0% | $94.2m | 2,030,000 | 5% | added |
| 10 | CTRI CENTURI HOLDINGS INC | Utilities | 3.4% | $81.1m | 3,830,000 | 26% | added |
| 11 | JHX JAMES HARDIE INDS PLC | 3.4% | $81.0m | 4,218,500 | – | new | |
| 12 | MMM 3M CO | Industrials | 2.4% | $57.4m | 370,000 | 0% | held |
| 13 | ENS ENERSYS | Industrials | 2.2% | $52.8m | 467,500 | 4% | added |
| 14 | ATKR ATKORE INC | Industrials | 1.9% | $45.7m | 728,206 | – | new |
| 15 | ATS ATS CORPORATION | 1.8% | $43.2m | 1,649,857 | 35% | added | |
| 16 | CNM CORE & MAIN INC | Industrials | 1.8% | $41.7m | 775,500 | 0% | held |
| 17 | BLDR BUILDERS FIRSTSOURCE INC | Industrials | 1.2% | $29.1m | 240,000 | 0% | held |
| 18 | WMS ADVANCED DRAIN SYS INC DEL | Industrials | 0.9% | $20.8m | 150,000 | – | new |
| 19 | WBI WATERBRIDGE INFRASTRUCTURE L | 0.7% | $17.7m | 700,000 | – | new | |
| 20 | SITE SITEONE LANDSCAPE SUPPLY INC | Industrials | 0.5% | $12.9m | 100,250 | 0% | held |
| 21 | TFII TFI INTL INC | Industrials | 0.5% | $12.8m | 145,000 | 0% | held |
| 22 | SABR SABRE CORP | Technology | 0.4% | $8.5m | 4,667,000 | 0% | held |
Weights are shares of the reported long US equity book (options excluded). Values are as filed, normalised to whole dollars. Share changes compare against the immediately preceding filing only.