Institutional Manager · CIK 0001837343
Hill City Capital, LP
BOSTON, MA · File #028-20893
Latest AUM
$2.65B
Positions
23
Top-10 Concentration
82.2%
Filings
9
Portfolio Value Over Time
2024-03
2024-06
2024-09
2024-12
2025-03
2025-06
2025-09
2025-12
Biggest QoQ Changes
Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.
| Action | Issuer | Ticker / CUSIP | Δ Shares | Flow ($) | Price Effect |
|---|---|---|---|---|---|
| NEW | BOEING CO | BA-PA | +518,483 | +$112.6M | $0 |
| EXITED | SPIRIT AEROSYSTEMS HLDGS INC | 848574109 | -2,652,093 | -$102.4M | $0 |
| NEW | TREX CO INC | TREX | +552,000 | +$19.4M | $0 |
| ADD | JAMES HARDIE INDS PLC | G4253H101 | +901,700 | +$18.7M | +$6.5M |
| ADD | INTERNATIONAL PAPER CO | 460146103 | +400,000 | +$15.8M | -$14.2M |
| ADD | CENTURI HOLDINGS INC | CTRI | +200,000 | +$5.0M | +$15.6M |
| ADD | ADVANCED DRAIN SYS INC DEL | 00790R104 | +10,000 | +$1.4M | +$919,500 |
| ADD | CORE & MAIN INC | CNM | +21,500 | +$1.1M | -$1.4M |
| REDUCE | SITEONE LANDSCAPE SUPPLY INC | SITE | -1,050 | -$130,788 | -$425,060 |
| ADD | FIRST SOLAR INC | FSLR | +390 | +$101,880 | +$85.1M |
Sector Allocation
Filing History
- 13F HOLDINGS REPORTQ/E Dec 202523 pos · $2.65B
- 13F HOLDINGS REPORTQ/E Sep 202522 pos · $2.36B
- 13F HOLDINGS REPORTQ/E Jun 202520 pos · $2.02B
- 13F HOLDINGS REPORTQ/E Mar 202517 pos · $1.34B
- 13F HOLDINGS REPORTQ/E Dec 202419 pos · $1.56B
- 13F HOLDINGS REPORTQ/E Sep 202422 pos · $1.51B
- 13F HOLDINGS REPORTQ/E Jun 202424 pos · $1.39B
- 13F HOLDINGS REPORTQ/E Mar 202422 pos · $1.36B
- 13F HOLDINGS REPORTQ/E Dec 202321 pos · $745.1M
Top 20 Holdings — Dec 2025
| # | Issuer | Ticker | Shares | Value | % of Portfolio |
|---|---|---|---|---|---|
| 1 | FIRST SOLAR INC | FSLR | 2,090,390 | $546.1M | 20.61% |
| 2 | MASTEC INC | MTZ | 2,155,000 | $468.4M | 17.68% |
| 3 | DYCOM INDS INC | 267475101 | 1,009,784 | $341.2M | 12.88% |
| 4 | CRH PLC | CRH | 1,046,000 | $130.5M | 4.93% |
| 5 | GRANITE CONSTR INC | GVA | 1,110,048 | $128.0M | 4.83% |
| 6 | CEMEX SAB DE CV | CXMSF | 10,802,750 | $124.1M | 4.69% |
| 7 | ARRAY TECHNOLOGIES INC | ARRY | 12,891,300 | $118.9M | 4.49% |
| 8 | BOEING CO | BA-PA | 518,483 | $112.6M | 4.25% |
| 9 | JAMES HARDIE INDS PLC | G4253H101 | 5,120,200 | $106.2M | 4.01% |
| 10 | CENTURI HOLDINGS INC | CTRI | 4,030,000 | $101.8M | 3.84% |
| 11 | INTERNATIONAL PAPER CO | 460146103 | 2,430,000 | $95.7M | 3.61% |
| 12 | ENERSYS | ENS | 467,500 | $68.6M | 2.59% |
| 13 | 3M CO | MMM | 370,000 | $59.2M | 2.24% |
| 14 | ATKORE INC | ATKR | 728,206 | $46.1M | 1.74% |
| 15 | ATS CORP | ATS | 1,649,857 | $45.4M | 1.72% |
| 16 | CORE & MAIN INC | CNM | 797,000 | $41.4M | 1.56% |
| 17 | BUILDERS FIRSTSOURCE INC | BLDR | 240,000 | $24.7M | 0.93% |
| 18 | ADVANCED DRAIN SYS INC DEL | 00790R104 | 160,000 | $23.2M | 0.87% |
| 19 | TREX CO INC | TREX | 552,000 | $19.4M | 0.73% |
| 20 | TFI INTL INC | 87241L109 | 145,000 | $15.0M | 0.57% |