Hill City Capital, LP
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 14, 2025), Hill City Capital, LP reported 17 stock positions worth $1.3 billion. Its top holding was Mastec (MTZ) at 18.6% of the portfolio, followed by Spirit Aerosystems Hold Class A (SPR, 15.3%) and First Solar (FSLR, 12.8%). Compared with Q4 2024, it opened 2 new positions, sold out of 4, added to 6 and reduced 1. The biggest buy was First Solar (FSLR, shares +59%) and the biggest sale an exit from Triumph (TGI).
- Most Recent 13F
- Q2 2026
- Location
- BOSTON, MA
- CIK
- 0001837343
- Portfolio Value
- $1.3B (Q1 2025)
- SEC Filing
- 0001837343-25-000004 ↗ filed May 14, 2025
Holdings Value
Holdings 17 stocks · $1.3B
| MTZ Mastec Inc. | 18.64% | 2,145,000 | $250.3M | Add +0.7% |
| SPR Spirit Aerosystems Hold Class A | 15.33% | 5,975,000 | $205.9M | No change |
| FSLR First Solar Inc. | 12.75% | 1,355,000 | $171.3M | Add +59.4% |
| DY Dycom Industries Inc. | 11.00% | 969,784 | $147.7M | Add +14.1% |
| CRH CRH PLC | 7.18% | 1,097,000 | $96.5M | No change |
| IP International Paper Co. | 7.15% | 1,800,000 | $96.0M | Add +16.1% |
| GVA Granite Construction Inc. | 5.95% | 1,060,048 | $79.9M | Add +1.1% |
| ARRY Array Technologies Inc. | 5.17% | 14,265,335 | $69.5M | No change |
| MMM 3M Co. | 4.05% | 370,000 | $54.3M | No change |
| CNM Core & Main Inc. Class A | 2.78% | 774,200 | $37.4M | No change |
| ATS Ats Corp. | 2.41% | 1,299,857 | $32.4M | New |
| BLDR Builders Firstsource Inc. | 2.23% | 240,000 | $30.0M | No change |
| ENS Enersys | 2.16% | 317,500 | $29.1M | Add +14.4% |
| WEX Wex Inc. | 0.99% | 85,000 | $13.3M | No change |
| SABR Sabre Corp. | 0.98% | 4,667,000 | $13.1M | Reduce -29.5% |
| TFII Tfi International Inc. | 0.84% | 145,000 | $11.2M | No change |
| SITE Siteone Landscape Supply Inc. | 0.38% | 42,250 | $5.1M | New |
Portfolio Sells Q4 2024 → Q1 2025
Portfolio Buys Q4 2024 → Q1 2025
| FSLR First Solar Inc. | Add +59.4% | 12.75% | +3.16 |
| ATS Ats Corp. | New | 2.41% | +2.41 |
| IP International Paper Co. | Add +16.1% | 7.15% | +1.81 |
| DY Dycom Industries Inc. | Add +14.1% | 11.00% | +1.52 |
| ENS Enersys | Add +14.4% | 2.16% | +0.52 |
| SITE Siteone Landscape Supply Inc. | New | 0.38% | +0.38 |
| MTZ Mastec Inc. | Add +0.7% | 18.64% | +0.06 |
| GVA Granite Construction Inc. | Add +1.1% | 5.95% | +0.06 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026Amended | 28 | $4.3B | MTZ, FSLR, DY, DPC, STM |
| Q1 2026 | 23 | $2.8B | MTZ, FSLR, DY, IP, GVA |
| Q4 2025 | 23 | $2.6B | FSLR, MTZ, DY, CRH, GVA |
| Q3 2025 | 22 | $2.4B | FSLR, MTZ, DY, CRH, GVA |
| Q2 2025 | 19 | $1.9B | MTZ, FSLR, DY, SPR, GVA |
| Q1 2025 | 17 | $1.3B | MTZ, SPR, FSLR, DY, CRH |
| Q4 2024 | 19 | $1.6B | MTZ, SPR, FSLR, DY, TGI |
| Q3 2024 | 22 | $1.5B | MTZ, SPR, DY, FSLR, CRH |
| Q2 2024 | 24 | $1.4B | MTZ, SPR, ARRY, DY, FSLR |
| Q1 2024 | 22 | $1.4B | SPR, MTZ, ARRY, CRH, DY |