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Hill City Capital, LP

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13F filer, CIK 1837343, BOSTON, MA

Hill City Capital, LP reported $2,649,255,133 across 23 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-13. Its ten largest share positions make up 82.21% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001837343-26-000002

Period
2025-12-31
Reported value
$2.65B
Holdings
23
Top 10 weight
82.21%
New
2
Sold out
1

Largest buys vs the previous quarter

SecurityShares changeApprox. value
BAnew+518,483$113M
TREXnew+552,000$19.4M
JHXadded+901,700$18.7M
IPadded+400,000$15.8M
CTRIadded+200,000$5.05M

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
SPRexited-2,652,093-$102M
SITEreduced-1,050-$131K

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, Q4 2025

Share positions as resolved from 13F-HR 0001837343-26-000002, largest first. % of portfolio is the value over $2,649,255,133, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
FSLRFIRST SOLAR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 460,000 shares; 2024Q4: 850,000 shares; 2025Q1: 1,355,000 shares; 2025Q2: 2,150,000 shares; 2025Q3: 2,090,000 shares; 2025Q4: 2,090,390 shares 2,090,390$546M20.61%+390Timeline
MTZMASTEC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,130,000 shares; 2024Q4: 2,130,000 shares; 2025Q1: 2,145,000 shares; 2025Q2: 2,155,000 shares; 2025Q3: 2,155,000 shares; 2025Q4: 2,155,000 shares 2,155,000$468M17.68%0Timeline
DYDYCOM INDS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 679,784 shares; 2024Q4: 849,784 shares; 2025Q1: 969,784 shares; 2025Q2: 1,009,784 shares; 2025Q3: 1,009,784 shares; 2025Q4: 1,009,784 shares 1,009,784$341M12.88%0Timeline
CRHCRH PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,097,000 shares; 2024Q4: 1,097,000 shares; 2025Q1: 1,097,000 shares; 2025Q2: 1,097,000 shares; 2025Q3: 1,046,000 shares; 2025Q4: 1,046,000 shares 1,046,000$131M4.93%0Timeline
GVAGRANITE CONSTR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 978,938 shares; 2024Q4: 1,048,938 shares; 2025Q1: 1,060,048 shares; 2025Q2: 1,110,548 shares; 2025Q3: 1,110,048 shares; 2025Q4: 1,110,048 shares 1,110,048$128M4.83%0Timeline
CXCEMEX SAB DE CVQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 4,252,500 shares; 2025Q3: 10,802,750 shares; 2025Q4: 10,802,750 shares 10,802,750$124M4.69%0Timeline
ARRYARRAY TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 14,265,335 shares; 2024Q4: 14,265,335 shares; 2025Q1: 14,265,335 shares; 2025Q2: 14,265,335 shares; 2025Q3: 12,891,300 shares; 2025Q4: 12,891,300 shares 12,891,300$119M4.49%0Timeline
BABOEING COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 518,483 shares 518,483$113M4.25%newTimeline
JHXJAMES HARDIE INDS PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 4,218,500 shares; 2025Q4: 5,120,200 shares 5,120,200$106M4.01%+901,700Timeline
CTRICENTURI HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 3,030,000 shares; 2025Q3: 3,830,000 shares; 2025Q4: 4,030,000 shares 4,030,000$102M3.84%+200,000Timeline
IPINTERNATIONAL PAPER COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,550,000 shares; 2024Q4: 1,550,000 shares; 2025Q1: 1,800,000 shares; 2025Q2: 1,930,000 shares; 2025Q3: 2,030,000 shares; 2025Q4: 2,430,000 shares 2,430,000$95.7M3.61%+400,000Timeline
ENSENERSYSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 657,500 shares; 2024Q4: 277,500 shares; 2025Q1: 317,500 shares; 2025Q2: 447,500 shares; 2025Q3: 467,500 shares; 2025Q4: 467,500 shares 467,500$68.6M2.59%0Timeline
MMM3M COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 370,000 shares; 2024Q4: 370,000 shares; 2025Q1: 370,000 shares; 2025Q2: 370,000 shares; 2025Q3: 370,000 shares; 2025Q4: 370,000 shares 370,000$59.2M2.24%0Timeline
ATKRATKORE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 460,909 shares; 2024Q4: 460,908 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 728,206 shares; 2025Q4: 728,206 shares 728,206$46.1M1.74%0Timeline
ATSATS CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,299,857 shares; 2025Q2: 1,224,857 shares; 2025Q3: 1,649,857 shares; 2025Q4: 1,649,857 shares 1,649,857$45.4M1.72%0Timeline
CNMCORE & MAIN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 774,200 shares; 2024Q4: 774,200 shares; 2025Q1: 774,200 shares; 2025Q2: 774,200 shares; 2025Q3: 775,500 shares; 2025Q4: 797,000 shares 797,000$41.4M1.56%+21,500Timeline
BLDRBUILDERS FIRSTSOURCE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 300,000 shares; 2024Q4: 240,000 shares; 2025Q1: 240,000 shares; 2025Q2: 240,000 shares; 2025Q3: 240,000 shares; 2025Q4: 240,000 shares 240,000$24.7M0.93%0Timeline
WMSADVANCED DRAIN SYS INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 150,000 shares; 2025Q4: 160,000 shares 160,000$23.2M0.87%+10,000Timeline
TREXTREX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 552,000 shares 552,000$19.4M0.73%newTimeline
TFIITFI INTERNATIONAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 145,000 shares; 2024Q4: 145,000 shares; 2025Q1: 145,000 shares; 2025Q2: 145,000 shares; 2025Q3: 145,000 shares; 2025Q4: 145,000 shares 145,000$15M0.57%0Timeline
WBIWATERBRIDGE INFRASTRUCTURE LQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 700,000 shares; 2025Q4: 700,000 shares 700,000$14M0.53%0Timeline
SITESITEONE LANDSCAPE SUPPLY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 42,250 shares; 2025Q2: 100,250 shares; 2025Q3: 100,250 shares; 2025Q4: 99,200 shares 99,200$12.4M0.47%-1,050Timeline
SABRSABRE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 7,617,000 shares; 2024Q4: 6,617,000 shares; 2025Q1: 4,667,000 shares; 2025Q2: 4,667,000 shares; 2025Q3: 4,667,000 shares; 2025Q4: 4,667,000 shares 4,667,000$6.35M0.24%0Timeline

Sold out in Q4 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
SPRSPIRIT AEROSYSTEMS HLDGS INC2,652,093$102Mshares

How Q4 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 0001837343-26-000002 base2026-02-13acceptance time not in the bulk data set