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Hill City Capital, LP

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13F filer, CIK 1837343, BOSTON, MA

Hill City Capital, LP reported $2,021,929,105 across 20 holdings for the quarter ended 2025-06-30, in a 13F-HR filed 2025-08-14. Its ten largest share positions make up 87.41% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001837343-25-000005

Period
2025-06-30
Reported value
$2.02B
Holdings
20
Top 10 weight
87.41%
New
3
Sold out
0

Largest buys vs the previous quarter

SecurityShares changeApprox. value
FSLRadded+795,000$132M
CTRInew+3,030,000$68M
CXnew+4,252,500$29.5M
ENSadded+130,000$11.2M
DYadded+40,000$9.78M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
SPRreduced-2,025,701-$77.3M
ATSreduced-75,000-$2.39M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q2 2025

Share positions as resolved from 13F-HR 0001837343-25-000005, largest first. % of portfolio is the value over $1,858,044,505, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
MTZMASTEC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,130,000 shares; 2024Q4: 2,130,000 shares; 2025Q1: 2,145,000 shares; 2025Q2: 2,155,000 shares 2,155,000$367M19.77%+10,000Timeline
FSLRFIRST SOLAR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 460,000 shares; 2024Q4: 850,000 shares; 2025Q1: 1,355,000 shares; 2025Q2: 2,150,000 shares 2,150,000$356M19.16%+795,000Timeline
DYDYCOM INDS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 679,784 shares; 2024Q4: 849,784 shares; 2025Q1: 969,784 shares; 2025Q2: 1,009,784 shares 1,009,784$247M13.28%+40,000Timeline
SPRSPIRIT AEROSYSTEMS HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,975,000 shares; 2024Q4: 5,975,000 shares; 2025Q1: 5,975,000 shares; 2025Q2: 3,949,299 shares 3,949,299$151M8.11%-2,025,701Timeline
GVAGRANITE CONSTR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 978,938 shares; 2024Q4: 1,048,938 shares; 2025Q1: 1,060,048 shares; 2025Q2: 1,110,548 shares 1,110,548$104M5.59%+50,500Timeline
CRHCRH PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,097,000 shares; 2024Q4: 1,097,000 shares; 2025Q1: 1,097,000 shares; 2025Q2: 1,097,000 shares 1,097,000$101M5.42%0Timeline
IPINTERNATIONAL PAPER COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,550,000 shares; 2024Q4: 1,550,000 shares; 2025Q1: 1,800,000 shares; 2025Q2: 1,930,000 shares 1,930,000$90.4M4.86%+130,000Timeline
ARRYARRAY TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 14,265,335 shares; 2024Q4: 14,265,335 shares; 2025Q1: 14,265,335 shares; 2025Q2: 14,265,335 shares 14,265,335$84.2M4.53%0Timeline
CTRICENTURI HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 3,030,000 shares 3,030,000$68M3.66%newTimeline
MMM3M COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 370,000 shares; 2024Q4: 370,000 shares; 2025Q1: 370,000 shares; 2025Q2: 370,000 shares 370,000$56.3M3.03%0Timeline
CNMCORE & MAIN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 774,200 shares; 2024Q4: 774,200 shares; 2025Q1: 774,200 shares; 2025Q2: 774,200 shares 774,200$46.7M2.51%0Timeline
ATSATS CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,299,857 shares; 2025Q2: 1,224,857 shares 1,224,857$39M2.1%-75,000Timeline
ENSENERSYSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 657,500 shares; 2024Q4: 277,500 shares; 2025Q1: 317,500 shares; 2025Q2: 447,500 shares 447,500$38.4M2.07%+130,000Timeline
CXCEMEX SAB DE CVQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 4,252,500 shares 4,252,500$29.5M1.59%newTimeline
BLDRBUILDERS FIRSTSOURCE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 300,000 shares; 2024Q4: 240,000 shares; 2025Q1: 240,000 shares; 2025Q2: 240,000 shares 240,000$28M1.51%0Timeline
SABRSABRE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 7,617,000 shares; 2024Q4: 6,617,000 shares; 2025Q1: 4,667,000 shares; 2025Q2: 4,667,000 shares 4,667,000$14.7M0.79%0Timeline
TFIITFI INTERNATIONAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 145,000 shares; 2024Q4: 145,000 shares; 2025Q1: 145,000 shares; 2025Q2: 145,000 shares 145,000$13M0.7%0Timeline
WEXWEX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 85,000 shares; 2024Q4: 85,000 shares; 2025Q1: 85,000 shares; 2025Q2: 85,000 shares 85,000$12.5M0.67%0Timeline
SITESITEONE LANDSCAPE SUPPLY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 42,250 shares; 2025Q2: 100,250 shares 100,250$12.1M0.65%+58,000Timeline

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
FSLRFIRST SOLAR INC Stockcall990,000$164Mnew

How Q2 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001837343-25-000005 base2025-08-14acceptance time not in the bulk data set