Hill City Capital, LP 13F holdings, Q4 2025
Holdings as of December 31, 2025 · filings on SEC EDGAR · latest filing →
Hill City Capital, LP disclosed 23 US equity positions worth $2.6bn in its Q4 2025 13F filing. The largest position was FSLR at 20.6% of the reported book, followed by MTZ and DY. Against the Q3 2025 filing, it opened 2 new positions, added to 5 and reduced 1 among the top 23 holdings.
What did Hill City Capital, LP own in Q4 2025? Top 23 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q3 2025 |
|---|---|---|---|---|---|---|---|
| 1 | FSLR FIRST SOLAR INC | Technology | 20.6% | $546.1m | 2,090,390 | 0% | held |
| 2 | MTZ MASTEC INC | Industrials | 17.7% | $468.4m | 2,155,000 | 0% | held |
| 3 | DY DYCOM INDS INC | Industrials | 12.9% | $341.2m | 1,009,784 | 0% | held |
| 4 | CRH CRH PLC | Basic Materials | 4.9% | $130.5m | 1,046,000 | 0% | held |
| 5 | GVA GRANITE CONSTR INC | Industrials | 4.8% | $128.0m | 1,110,048 | 0% | held |
| 6 | CX CEMEX SAB DE CV | Basic Materials | 4.7% | $124.1m | 10,802,750 | 0% | held |
| 7 | ARRY ARRAY TECHNOLOGIES INC | Technology | 4.5% | $118.9m | 12,891,300 | 0% | held |
| 8 | BA BOEING CO | Industrials | 4.2% | $112.6m | 518,483 | – | new |
| 9 | JHX JAMES HARDIE INDS PLC | 4.0% | $106.2m | 5,120,200 | 21% | added | |
| 10 | CTRI CENTURI HOLDINGS INC | Utilities | 3.8% | $101.8m | 4,030,000 | 5% | added |
| 11 | IP INTERNATIONAL PAPER CO | Consumer Cyclical | 3.6% | $95.7m | 2,430,000 | 20% | added |
| 12 | ENS ENERSYS | Industrials | 2.6% | $68.6m | 467,500 | 0% | held |
| 13 | MMM 3M CO | Industrials | 2.2% | $59.2m | 370,000 | 0% | held |
| 14 | ATKR ATKORE INC | Industrials | 1.7% | $46.1m | 728,206 | 0% | held |
| 15 | ATS ATS CORP | 1.7% | $45.4m | 1,649,857 | 0% | held | |
| 16 | CNM CORE & MAIN INC | Industrials | 1.6% | $41.4m | 797,000 | 3% | added |
| 17 | BLDR BUILDERS FIRSTSOURCE INC | Industrials | 0.9% | $24.7m | 240,000 | 0% | held |
| 18 | WMS ADVANCED DRAIN SYS INC DEL | Industrials | 0.9% | $23.2m | 160,000 | 7% | added |
| 19 | TREX TREX CO INC | Industrials | 0.7% | $19.4m | 552,000 | – | new |
| 20 | TFII TFI INTL INC | Industrials | 0.6% | $15.0m | 145,000 | 0% | held |
| 21 | WBI WATERBRIDGE INFRASTRUCTURE L | 0.5% | $14.0m | 700,000 | 0% | held | |
| 22 | SITE SITEONE LANDSCAPE SUPPLY INC | Industrials | 0.5% | $12.4m | 99,200 | -1% | reduced |
| 23 | SABR SABRE CORP | Technology | 0.2% | $6.3m | 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.